# EDGAR Filing Document

**Accession Number:** 0000756913
**File Stem:** 0001683863-25-007147
**Filing Date:** 2025-8
**Character Count:** 7407245
**Document Hash:** 003289c31c0c2d5005fc1ad24f4d33a4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001683863-25-007147.hdr.sgml**: 20250829

**ACCESSION NUMBER**: 0001683863-25-007147

**CONFORMED SUBMISSION TYPE**: N-CSRS

**PUBLIC DOCUMENT COUNT**: 374

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250829

**DATE AS OF CHANGE**: 20250829

**EFFECTIVENESS DATE**: 20250829

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** N-CSRS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04146
- **FILM NUMBER:** 251277639

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

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

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

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

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

## Series and Classes Contracts Data

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

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

### American Growth Trust (Series ID: S000008215)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000022347 | Series I     | JAHJX           |
| C000022348 | Series II    | JAHKX           |
| C000022349 | Series III   | JAHGX           |

### American International Trust (Series ID: S000008216)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000022351 | Series I     | JAHLX           |
| C000022352 | Series II    | JAHMX           |
| C000022353 | Series III   | JAHPX           |

### Blue Chip Growth Trust (Series ID: S000008217)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000022354 | NAV          | JAEDX           |
| C000022355 | Series I     | JADZX           |
| C000022356 | Series II    | JADYX           |

### 500 Index Trust (Series ID: S000008219)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000022362 | NAV          | JAGMX           |
| C000117967 | Series I     | JFIVX           |
| C000117968 | Series II    | JAGKX           |

### U.S. Growth Trust (Series ID: S000008220)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000022366 | NAV          | JAFGX           |
| C000022367 | Series I     | JAFHX           |
| C000022368 | Series II    | JAFJX           |

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

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

### Equity Income Trust (Series ID: S000008228)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000022398 | NAV          | JAEEX           |
| C000022399 | Series I     | JAEGX           |
| C000022400 | Series II    | JAEFX           |

### Financial Industries Trust (Series ID: S000008229)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000022402 | NAV          | JAFNX           |
| C000022403 | Series I     | JEFSX           |
| C000022404 | Series II    | JEFCX           |

### Global Equity Trust (Series ID: S000008231)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000022410 | NAV          | JAJGX           |
| C000022411 | Series I     | JEFGX           |
| C000022412 | Series II    | JAJFX           |

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

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

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

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

### Health Sciences Trust (Series ID: S000008239)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000022442 | NAV          | JAFMX           |
| C000022443 | Series I     | JEHSX           |
| C000022444 | Series II    | JAFKX           |

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

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

### American Growth-Income Trust (Series ID: S000008247)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000022475 | Series I     | JAHQX           |
| C000022476 | Series II    | JAHRX           |
| C000022477 | Series III   | JAHUX           |

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

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

### Managed Volatility Growth Portfolio (Series ID: S000008278)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000022588 | NAV          | JAIZX           |
| C000022589 | Series I     | JELGX           |
| C000022590 | Series II    | JAJAX           |

### Managed Volatility Balanced Portfolio (Series ID: S000008279)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000022593 | NAV          | JAIYX           |
| C000022594 | Series I     | JELBX           |
| C000022595 | Series II    | JAJRX           |

### Managed Volatility Moderate Portfolio (Series ID: S000008280)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000022598 | NAV          | JAIVX           |
| C000022599 | Series I     | JELMX           |
| C000022600 | Series II    | JAIWX           |

### Managed Volatility Conservative Portfolio (Series ID: S000008281)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000022603 | NAV          | JAIUX           |
| C000022604 | Series I     | JELCX           |
| C000022605 | Series II    | JAISX           |

### Mid Cap Index Trust (Series ID: S000008285)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000022620 | NAV          | JAEYX           |
| C000022621 | Series I     | JECIX           |
| C000022622 | Series II    | JAEZX           |

### Mid Cap Growth Trust (Series ID: S000008286)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000022624 | NAV          | JAEVX           |
| C000022625 | Series I     | JAETX           |
| C000022626 | Series II    | JAEUX           |

### Mid Value Trust (Series ID: S000008289)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000022636 | NAV          | JAGWX           |
| C000022637 | Series I     | JEMUX           |
| C000022638 | Series II    | JAGYX           |

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

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

### Fundamental All Cap Core Trust (Series ID: S000008296)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000022664 | NAV          | JADDX           |
| C000022665 | Series I     | JEQAX           |
| C000022666 | Series II    | JFLGX           |

### International Equity Index Trust (Series ID: S000008297)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000022668 | NAV          | JVANX           |
| C000117969 | Series I     | JIEQX           |
| C000117970 | Series II    | JAJEX           |

### International Small Company Trust (Series ID: S000008301)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000022684 | NAV          | JAJDX           |
| C000022685 | Series I     | JAJCX           |
| C000022686 | Series II    | JAADX           |

### Disciplined Value International Trust (Series ID: S000008302)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000022688 | NAV          | JAJJX           |
| C000022689 | Series I     | JAJHX           |
| C000022690 | Series II    | JAJIX           |

### Small Cap Index Trust (Series ID: S000008311)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000022703 | NAV          | JAEWX           |
| C000022704 | Series I     | JESIX           |
| C000022705 | Series II    | JAJOX           |

### Small Cap Opportunities Trust (Series ID: S000008312)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000022707 | NAV          | JADMX           |
| C000022708 | Series I     | JADLX           |
| C000022709 | Series II    | JADPX           |

### Small Cap Core Trust (Series ID: S000008313)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000022711 | Series NAV   | JAHBX           |
| C000022712 | Series I     | JESVX           |
| C000022713 | Series II    | JAGZX           |

### Small Company Value Trust (Series ID: S000008316)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000022723 | NAV          | JAEQX           |
| C000022724 | Series I     | JAEPX           |
| C000022725 | Series II    | JAERX           |

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

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

### Fundamental Large Cap Value Trust (Series ID: S000008321)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000022743 | NAV          | JADIX           |
| C000022744 | Series I     | JVFLX           |
| C000022745 | Series II    | JADJX           |

### Total Stock Market Index Trust (Series ID: S000008325)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000022759 | NAV          | JAFEX           |
| C000022760 | Series I     | JETSX           |
| C000022761 | Series II    | JAFFX           |

### Real Estate Securities Trust (Series ID: S000008338)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000022811 | NAV          | JAJMX           |
| C000022812 | Series I     | JADBX           |
| C000022813 | Series II    | JAJLX           |

### Science & Technology Trust (Series ID: S000008340)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000022819 | NAV          | JAFSX           |
| C000022820 | Series I     | JESTX           |
| C000022821 | Series II    | JAFUX           |

### Small Cap Stock Trust (Series ID: S000008343)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000022831 | NAV          | JAGPX           |
| C000022832 | Series I     | JESGX           |
| C000022833 | Series II    | JAGQX           |

### American Asset Allocation Trust (Series ID: S000017250)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000047744 | Series I     | JAHZX           |
| C000047745 | Series II    | JAIFX           |
| C000047746 | Series III   | JAIDX           |

### Disciplined Value Emerging Markets Equity Trust (Series ID: S000017255)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000047759 | Series I     | JAJBX           |
| C000047760 | Series II    | JEMTX           |
| C000047761 | NAV          | JHVTX           |

### American Global Growth Trust (Series ID: S000017256)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000047762 | Series II    | JAHWX           |
| C000047763 | Series III   | JAHVX           |
| C000047764 | Series I     | JAJQX           |

### Capital Appreciation Value Trust (Series ID: S000021933)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000063026 | NAV Class       | JAFRX           |
| C000063027 | Series I Class  | JAFPX           |
| C000063028 | Series II Class | JAFQX           |

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

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

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

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

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

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

### Lifestyle Balanced Portfolio (Series ID: S000032004)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000099620 | Series I     | JHBPX           |
| C000099621 | Series II    | JAILX           |
| C000099622 | NAV          | JAINX           |

### Lifestyle Conservative Portfolio (Series ID: S000032005)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000099623 | Series I     | JHCIX           |
| C000099624 | Series II    | JAIRX           |
| C000099625 | NAV          | JAIQX           |

### Lifestyle Growth Portfolio (Series ID: S000032006)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000099626 | Series I     | JHGPX           |
| C000099627 | Series II    | JAIKX           |
| C000099628 | NAV          | JAIJX           |

### Lifestyle Moderate Portfolio (Series ID: S000032007)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000099629 | Series I     | JHMPX           |
| C000099630 | Series II    | JAIPX           |
| C000099631 | NAV          | JAIOX           |

### Strategic Equity Allocation Trust (Series ID: S000036499)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000111804 | Series NAV   | JAFVX           |

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#### UNITED STATES

#### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

------

#### FORM N-CSR

------

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

#### Investment Company Act file number

#### 811-04146

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

------

200 BERKELEY STREET, BOSTON, MA 02116

(Address of principal executive offices) (Zip code)

SALVATORE SCHIAVONE

TREASURER

200 BERKELEY STREET

BOSTON, MA 02116

(Name and address of agent for service)

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

#### Date of fiscal year end:

#### December 31

#### Date of reporting period:

#### June 30, 2025
ITEM 1. REPORTS TO STOCKHOLDERS

The Registrant prepared the following semiannual reports to shareholders for the six months ended June 30, 2025:

John Hancock Variable Insurance Trust

* John Hancock 500 Index Trust 

* John Hancock American Asset Allocation Trust 

* John Hancock American Global Growth Trust 

* John Hancock American Growth Trust 

* John Hancock American Growth-Income Trust 

* John Hancock American International Trust 

* John Hancock Blue Chip Growth Trust 

* John Hancock Capital Appreciation Value Trust 

* John Hancock Disciplined Value International Trust 

* John Hancock Disciplined Value Emerging Markets Equity Trust 

* John Hancock Equity Income Trust 

* John Hancock Financial Industries Trust 

* John Hancock Fundamental All Cap Core Trust 

* John Hancock Fundamental Large Cap Value Trust 

* John Hancock Global Equity Trust 

* John Hancock Health Sciences Trust 

* John Hancock International Equity Index Trust 

* John Hancock International Small Company Trust 

* John Hancock Lifestyle Balanced Portfolio 

* John Hancock Lifestyle Conservative Portfolio 

* John Hancock Lifestyle Growth Portfolio 

* John Hancock Lifestyle Moderate Portfolio 

* John Hancock Mid Cap Growth Trust 

* John Hancock Mid Cap Index Trust 

* John Hancock Mid Value Trust 

* John Hancock Real Estate Securities Trust 

* John Hancock Science & Technology Trust 

* John Hancock Small Cap Core Trust (formerly Small Cap Value Trust) 

* John Hancock Small Cap Index Trust 

* John Hancock Small Cap Opportunities Trust 

* John Hancock Small Cap Stock Trust 

* John Hancock Small Company Value Trust 

* John Hancock Strategic Equity Allocation Trust 

* John Hancock Total Stock Market Index Trust 

* John Hancock U.S. Growth Trust (formerly Capital Appreciation Trust) 

John Hancock Variable Insurance Trust - Bond Trusts

* John Hancock Active Bond Trust 

* John Hancock Core Bond Trust 

* John Hancock High Yield Trust 

* John Hancock Investment Quality Bond Trust 

* John Hancock Money Market Trust 

* John Hancock Opportunistic Fixed Income Trust 

* John Hancock Select Bond Trust 

* John Hancock Short Term Government Income Trust 

* John Hancock Strategic Income Opportunities Trust 

* John Hancock Total Bond Market Trust 

* John Hancock Ultra Short Term Bond Trust 

John Hancock Variable Insurance Trust - Managed Volatility Portfolios

* John Hancock Managed Volatility Balanced Portfolio 

* John Hancock Managed Volatility Conservative Portfolio 

* John Hancock Managed Volatility Growth Portfolio 

* John Hancock Managed Volatility Moderate Portfolio 

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust 500 Index Trust
Series I/JFIVX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the 500 Index Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| 500 Index Trust<br>(Series I/JFIVX) | $15 | 0.30% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$11300831243 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;506 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;1% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| NVIDIA Corp. | 7.1% |
| Microsoft Corp. | 6.8% |
| Apple, Inc. | 5.7% |
| Amazon.com, Inc. | 3.8% |
| Meta Platforms, Inc., Class A | 3.0% |
| Broadcom, Inc. | 2.4% |
| Alphabet, Inc., Class A | 1.9% |
| Berkshire Hathaway, Inc., Class B | 1.7% |
| Tesla, Inc. | 1.6% |
| Alphabet, Inc., Class C | 1.5% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Information technology | 32.1% |
| Financials | 13.6% |
| Consumer discretionary | 10.1% |
| Communication services | 9.5% |
| Health care | 9.0% |
| Industrials | 8.3% |
| Consumer staples | 5.4% |
| Energy | 2.9% |
| Utilities | 2.3% |
| Real estate | 2.0% |
| Materials | 1.8% |
| Short-term investments and other | 3.0% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

FIVE-SA-I

6/25

8/25

500 Index Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust 500 Index Trust
Series II/JAGKX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the 500 Index Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| 500 Index Trust<br>(Series II/JAGKX) | $26 | 0.50% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$11300831243 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;506 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;1% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| NVIDIA Corp. | 7.1% |
| Microsoft Corp. | 6.8% |
| Apple, Inc. | 5.7% |
| Amazon.com, Inc. | 3.8% |
| Meta Platforms, Inc., Class A | 3.0% |
| Broadcom, Inc. | 2.4% |
| Alphabet, Inc., Class A | 1.9% |
| Berkshire Hathaway, Inc., Class B | 1.7% |
| Tesla, Inc. | 1.6% |
| Alphabet, Inc., Class C | 1.5% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Information technology | 32.1% |
| Financials | 13.6% |
| Consumer discretionary | 10.1% |
| Communication services | 9.5% |
| Health care | 9.0% |
| Industrials | 8.3% |
| Consumer staples | 5.4% |
| Energy | 2.9% |
| Utilities | 2.3% |
| Real estate | 2.0% |
| Materials | 1.8% |
| Short-term investments and other | 3.0% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

FIVE-SA-II

6/25

8/25

500 Index Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust 500 Index Trust
Series NAV/JAGMX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the 500 Index Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| 500 Index Trust<br>(Series NAV/JAGMX) | $13 | 0.25% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$11300831243 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;506 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;1% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| NVIDIA Corp. | 7.1% |
| Microsoft Corp. | 6.8% |
| Apple, Inc. | 5.7% |
| Amazon.com, Inc. | 3.8% |
| Meta Platforms, Inc., Class A | 3.0% |
| Broadcom, Inc. | 2.4% |
| Alphabet, Inc., Class A | 1.9% |
| Berkshire Hathaway, Inc., Class B | 1.7% |
| Tesla, Inc. | 1.6% |
| Alphabet, Inc., Class C | 1.5% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Information technology | 32.1% |
| Financials | 13.6% |
| Consumer discretionary | 10.1% |
| Communication services | 9.5% |
| Health care | 9.0% |
| Industrials | 8.3% |
| Consumer staples | 5.4% |
| Energy | 2.9% |
| Utilities | 2.3% |
| Real estate | 2.0% |
| Materials | 1.8% |
| Short-term investments and other | 3.0% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

FIVE-SA-NAV

6/25

8/25

500 Index Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust American Asset Allocation Trust
Series I/JAHZX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the American Asset Allocation Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| American Asset Allocation Trust<br>(Series I/JAHZX) | $32 | 0.62% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$1209332404 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;6% |

---

#### Graphical Representation of Holdings
The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund. The weightings represent the holdings of American Funds Insurance Series – Asset Allocation Fund. For further details, please visit the American Funds website at americanfunds.com/afis.

**Portfolio Composition**

---

| | |
|:---|:---|
| Common stocks | 67.6% |
| Collateralized mortgage obligations | 10.4% |
| Corporate bonds | 9.6% |
| U.S. Government and agency obligations | 7.1% |
| Asset-backed securities | 2.1% |
| Foreign government obligations | 0.1% |
| Short-term investments and other | 3.1% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

AMAS-SA-I

6/25

8/25

American Asset Allocation Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust American Asset Allocation Trust
Series II/JAIFX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the American Asset Allocation Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| American Asset Allocation Trust<br>(Series II/JAIFX) | $37 | 0.71% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$1209332404 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;6% |

---

#### Graphical Representation of Holdings
The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund. The weightings represent the holdings of American Funds Insurance Series – Asset Allocation Fund. For further details, please visit the American Funds website at americanfunds.com/afis.

**Portfolio Composition**

---

| | |
|:---|:---|
| Common stocks | 67.6% |
| Collateralized mortgage obligations | 10.4% |
| Corporate bonds | 9.6% |
| U.S. Government and agency obligations | 7.1% |
| Asset-backed securities | 2.1% |
| Foreign government obligations | 0.1% |
| Short-term investments and other | 3.1% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

AMAS-SA-II

6/25

8/25

American Asset Allocation Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust American Asset Allocation Trust
Series III/JAIDX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the American Asset Allocation Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| American Asset Allocation Trust<br>(Series III/JAIDX) | $14 | 0.27% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$1209332404 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;6% |

---

#### Graphical Representation of Holdings
The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund. The weightings represent the holdings of American Funds Insurance Series – Asset Allocation Fund. For further details, please visit the American Funds website at americanfunds.com/afis.

**Portfolio Composition**

---

| | |
|:---|:---|
| Common stocks | 67.6% |
| Collateralized mortgage obligations | 10.4% |
| Corporate bonds | 9.6% |
| U.S. Government and agency obligations | 7.1% |
| Asset-backed securities | 2.1% |
| Foreign government obligations | 0.1% |
| Short-term investments and other | 3.1% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

AMAS-SA-III

6/25

8/25

American Asset Allocation Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust American Global Growth Trust
Series I/JAJQX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the American Global Growth Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| American Global Growth Trust<br>(Series I/JAJQX) | $34 | 0.65% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$200483467 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;10% |

---

#### Graphical Representation of Holdings
The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund. The weightings represent the holdings of American Funds Insurance Series – Global Growth Fund. For further details, please visit the American Funds website at americanfunds.com/afis.

**Sector Composition**

---

| | |
|:---|:---|
| Information technology | 28.6% |
| Financials | 16.2% |
| Industrials | 15.3% |
| Consumer discretionary | 14.6% |
| Health care | 8.8% |
| Communication services | 6.4% |
| Consumer staples | 3.2% |
| Energy | 2.2% |
| Materials | 2.1% |
| Utilities | 0.5% |
| Real estate | 0.1% |
| Short-term investments and other | 2.0% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

AMGL-SA-I

6/25

8/25

American Global Growth Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust American Global Growth Trust
Series II/JAHWX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the American Global Growth Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| American Global Growth Trust<br>(Series II/JAHWX) | $38 | 0.72% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$200483467 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;10% |

---

#### Graphical Representation of Holdings
The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund. The weightings represent the holdings of American Funds Insurance Series – Global Growth Fund. For further details, please visit the American Funds website at americanfunds.com/afis.

**Sector Composition**

---

| | |
|:---|:---|
| Information technology | 28.6% |
| Financials | 16.2% |
| Industrials | 15.3% |
| Consumer discretionary | 14.6% |
| Health care | 8.8% |
| Communication services | 6.4% |
| Consumer staples | 3.2% |
| Energy | 2.2% |
| Materials | 2.1% |
| Utilities | 0.5% |
| Real estate | 0.1% |
| Short-term investments and other | 2.0% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

AMGL-SA-II

6/25

8/25

American Global Growth Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust American Global Growth Trust
Series III/JAHVX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the American Global Growth Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| American Global Growth Trust<br>(Series III/JAHVX) | $16 | 0.30% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$200483467 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;10% |

---

#### Graphical Representation of Holdings
The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund. The weightings represent the holdings of American Funds Insurance Series – Global Growth Fund. For further details, please visit the American Funds website at americanfunds.com/afis.

**Sector Composition**

---

| | |
|:---|:---|
| Information technology | 28.6% |
| Financials | 16.2% |
| Industrials | 15.3% |
| Consumer discretionary | 14.6% |
| Health care | 8.8% |
| Communication services | 6.4% |
| Consumer staples | 3.2% |
| Energy | 2.2% |
| Materials | 2.1% |
| Utilities | 0.5% |
| Real estate | 0.1% |
| Short-term investments and other | 2.0% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

AMGL-SA-III

6/25

8/25

American Global Growth Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust American Growth Trust
Series I/JAHJX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the American Growth Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| American Growth Trust<br>(Series I/JAHJX) | $32 | 0.62% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$1064134445 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;8% |

---

#### Graphical Representation of Holdings
The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund. The weightings represent the holdings of American Funds Insurance Series – Growth Fund. For further details, please visit the American Funds website at americanfunds.com/afis.

**Sector Composition**

---

| | |
|:---|:---|
| Information technology | 27.4% |
| Communication services | 20.0% |
| Consumer discretionary | 13.8% |
| Health care | 11.1% |
| Industrials | 10.5% |
| Financials | 8.0% |
| Consumer staples | 2.0% |
| Energy | 2.0% |
| Materials | 1.4% |
| Utilities | 0.7% |
| Real estate | 0.6% |
| Short-term investments and other | 2.5% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

AMGR-SA-I

6/25

8/25

American Growth Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust American Growth Trust
Series II/JAHKX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the American Growth Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| American Growth Trust<br>(Series II/JAHKX) | $35 | 0.68% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$1064134445 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;8% |

---

#### Graphical Representation of Holdings
The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund. The weightings represent the holdings of American Funds Insurance Series – Growth Fund. For further details, please visit the American Funds website at americanfunds.com/afis.

**Sector Composition**

---

| | |
|:---|:---|
| Information technology | 27.4% |
| Communication services | 20.0% |
| Consumer discretionary | 13.8% |
| Health care | 11.1% |
| Industrials | 10.5% |
| Financials | 8.0% |
| Consumer staples | 2.0% |
| Energy | 2.0% |
| Materials | 1.4% |
| Utilities | 0.7% |
| Real estate | 0.6% |
| Short-term investments and other | 2.5% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

AMGR-SA-II

6/25

8/25

American Growth Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust American Growth Trust
Series III/JAHGX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the American Growth Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| American Growth Trust<br>(Series III/JAHGX) | $14 | 0.27% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$1064134445 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;8% |

---

#### Graphical Representation of Holdings
The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund. The weightings represent the holdings of American Funds Insurance Series – Growth Fund. For further details, please visit the American Funds website at americanfunds.com/afis.

**Sector Composition**

---

| | |
|:---|:---|
| Information technology | 27.4% |
| Communication services | 20.0% |
| Consumer discretionary | 13.8% |
| Health care | 11.1% |
| Industrials | 10.5% |
| Financials | 8.0% |
| Consumer staples | 2.0% |
| Energy | 2.0% |
| Materials | 1.4% |
| Utilities | 0.7% |
| Real estate | 0.6% |
| Short-term investments and other | 2.5% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

AMGR-SA-III

6/25

8/25

American Growth Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust American Growth-Income Trust
Series I/JAHQX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the American Growth-Income Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| American Growth-Income Trust<br>(Series I/JAHQX) | $32 | 0.63% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$976948642 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;7% |

---

#### Graphical Representation of Holdings
The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund. The weightings represent the holdings of American Funds Insurance Series – Growth-Income Fund. For further details, please visit the American Funds website at americanfunds.com/afis.

**Sector Composition**

---

| | |
|:---|:---|
| Information technology | 27.8% |
| Industrials | 15.5% |
| Financials | 12.2% |
| Consumer discretionary | 10.8% |
| Health care | 9.3% |
| Communication services | 9.0% |
| Consumer staples | 3.1% |
| Energy | 3.0% |
| Materials | 2.7% |
| Utilities | 2.0% |
| Real estate | 1.8% |
| Short-term investments and other | 2.8% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

AMGI-SA-I

6/25

8/25

American Growth-Income Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust American Growth-Income Trust
Series II/JAHRX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the American Growth-Income Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| American Growth-Income Trust<br>(Series II/JAHRX) | $37 | 0.71% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$976948642 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;7% |

---

#### Graphical Representation of Holdings
The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund. The weightings represent the holdings of American Funds Insurance Series – Growth-Income Fund. For further details, please visit the American Funds website at americanfunds.com/afis.

**Sector Composition**

---

| | |
|:---|:---|
| Information technology | 27.8% |
| Industrials | 15.5% |
| Financials | 12.2% |
| Consumer discretionary | 10.8% |
| Health care | 9.3% |
| Communication services | 9.0% |
| Consumer staples | 3.1% |
| Energy | 3.0% |
| Materials | 2.7% |
| Utilities | 2.0% |
| Real estate | 1.8% |
| Short-term investments and other | 2.8% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

AMGI-SA-II

6/25

8/25

American Growth-Income Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust American Growth-Income Trust
Series III/JAHUX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the American Growth-Income Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| American Growth-Income Trust<br>(Series III/JAHUX) | $14 | 0.28% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$976948642 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;7% |

---

#### Graphical Representation of Holdings
The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund. The weightings represent the holdings of American Funds Insurance Series – Growth-Income Fund. For further details, please visit the American Funds website at americanfunds.com/afis.

**Sector Composition**

---

| | |
|:---|:---|
| Information technology | 27.8% |
| Industrials | 15.5% |
| Financials | 12.2% |
| Consumer discretionary | 10.8% |
| Health care | 9.3% |
| Communication services | 9.0% |
| Consumer staples | 3.1% |
| Energy | 3.0% |
| Materials | 2.7% |
| Utilities | 2.0% |
| Real estate | 1.8% |
| Short-term investments and other | 2.8% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

AMGI-SA-III

6/25

8/25

American Growth-Income Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust American International Trust
Series I/JAHLX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the American International Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| American International Trust<br>(Series I/JAHLX) | $33 | 0.63% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$369841203 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;1% |

---

#### Graphical Representation of Holdings
The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund. The weightings represent the holdings of American Funds Insurance Series – International Fund. For further details, please visit the American Funds website at americanfunds.com/afis.

**Sector Composition**

---

| | |
|:---|:---|
| Industrials | 18.2% |
| Financials | 16.9% |
| Information technology | 13.3% |
| Communication services | 9.1% |
| Consumer discretionary | 9.0% |
| Health care | 8.6% |
| Materials | 7.9% |
| Consumer staples | 6.0% |
| Energy | 5.5% |
| Utilities | 1.6% |
| Short-term investments and other | 3.9% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

AMIN-SA-I

6/25

8/25

American International Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust American International Trust
Series II/JAHMX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the American International Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| American International Trust<br>(Series II/JAHMX) | $38 | 0.73% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$369841203 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;1% |

---

#### Graphical Representation of Holdings
The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund. The weightings represent the holdings of American Funds Insurance Series – International Fund. For further details, please visit the American Funds website at americanfunds.com/afis.

**Sector Composition**

---

| | |
|:---|:---|
| Industrials | 18.2% |
| Financials | 16.9% |
| Information technology | 13.3% |
| Communication services | 9.1% |
| Consumer discretionary | 9.0% |
| Health care | 8.6% |
| Materials | 7.9% |
| Consumer staples | 6.0% |
| Energy | 5.5% |
| Utilities | 1.6% |
| Short-term investments and other | 3.9% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

AMIN-SA-II

6/25

8/25

American International Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust American International Trust
Series III/JAHPX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the American International Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| American International Trust<br>(Series III/JAHPX) | $15 | 0.28% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$369841203 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;1% |

---

#### Graphical Representation of Holdings
The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund. The weightings represent the holdings of American Funds Insurance Series – International Fund. For further details, please visit the American Funds website at americanfunds.com/afis.

**Sector Composition**

---

| | |
|:---|:---|
| Industrials | 18.2% |
| Financials | 16.9% |
| Information technology | 13.3% |
| Communication services | 9.1% |
| Consumer discretionary | 9.0% |
| Health care | 8.6% |
| Materials | 7.9% |
| Consumer staples | 6.0% |
| Energy | 5.5% |
| Utilities | 1.6% |
| Short-term investments and other | 3.9% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

AMIN-SA-III

6/25

8/25

American International Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Blue Chip Growth Trust
Series I/JADZX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Blue Chip Growth Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Blue Chip Growth Trust<br>(Series I/JADZX) | $41 | 0.79% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$2110637651 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;67 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;10% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| NVIDIA Corp. | 14.1% |
| Microsoft Corp. | 13.8% |
| Apple, Inc. | 7.7% |
| Amazon.com, Inc. | 7.1% |
| Meta Platforms, Inc., Class A | 6.7% |
| Alphabet, Inc., Class C | 3.6% |
| Visa, Inc., Class A | 3.1% |
| Broadcom, Inc. | 3.1% |
| Carvana Company | 3.1% |
| Netflix, Inc. | 2.9% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Information technology | 46.9% |
| Consumer discretionary | 15.9% |
| Communication services | 15.7% |
| Financials | 8.7% |
| Health care | 6.7% |
| Industrials | 3.1% |
| Utilities | 0.9% |
| Consumer staples | 0.8% |
| Materials | 0.7% |
| Energy | 0.2% |
| Short-term investments and other | 0.4% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

BLUG-SA-I

6/25

8/25

Blue Chip Growth Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Blue Chip Growth Trust
Series II/JADYX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Blue Chip Growth Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Blue Chip Growth Trust<br>(Series II/JADYX) | $51 | 0.99% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$2110637651 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;67 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;10% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| NVIDIA Corp. | 14.1% |
| Microsoft Corp. | 13.8% |
| Apple, Inc. | 7.7% |
| Amazon.com, Inc. | 7.1% |
| Meta Platforms, Inc., Class A | 6.7% |
| Alphabet, Inc., Class C | 3.6% |
| Visa, Inc., Class A | 3.1% |
| Broadcom, Inc. | 3.1% |
| Carvana Company | 3.1% |
| Netflix, Inc. | 2.9% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Information technology | 46.9% |
| Consumer discretionary | 15.9% |
| Communication services | 15.7% |
| Financials | 8.7% |
| Health care | 6.7% |
| Industrials | 3.1% |
| Utilities | 0.9% |
| Consumer staples | 0.8% |
| Materials | 0.7% |
| Energy | 0.2% |
| Short-term investments and other | 0.4% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

BLUG-SA-II

6/25

8/25

Blue Chip Growth Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Blue Chip Growth Trust
Series NAV/JAEDX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Blue Chip Growth Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Blue Chip Growth Trust<br>(Series NAV/JAEDX) | $38 | 0.74% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$2110637651 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;67 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;10% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| NVIDIA Corp. | 14.1% |
| Microsoft Corp. | 13.8% |
| Apple, Inc. | 7.7% |
| Amazon.com, Inc. | 7.1% |
| Meta Platforms, Inc., Class A | 6.7% |
| Alphabet, Inc., Class C | 3.6% |
| Visa, Inc., Class A | 3.1% |
| Broadcom, Inc. | 3.1% |
| Carvana Company | 3.1% |
| Netflix, Inc. | 2.9% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Information technology | 46.9% |
| Consumer discretionary | 15.9% |
| Communication services | 15.7% |
| Financials | 8.7% |
| Health care | 6.7% |
| Industrials | 3.1% |
| Utilities | 0.9% |
| Consumer staples | 0.8% |
| Materials | 0.7% |
| Energy | 0.2% |
| Short-term investments and other | 0.4% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

BLUG-SA-NAV

6/25

8/25

Blue Chip Growth Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Capital Appreciation Value Trust
Series I/JAFPX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Capital Appreciation Value Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Capital Appreciation Value Trust<br>(Series I/JAFPX) | $46 | 0.90% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$483775251 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;251 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;61% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| Microsoft Corp. | 6.6% |
| U.S. Treasury Note, 4.000%, 02/28/2030 | 4.3% |
| Amazon.com, Inc. | 4.2% |
| U.S. Treasury Note, 4.000%, 05/31/2030 | 3.7% |
| NVIDIA Corp. | 3.5% |
| U.S. Treasury Note, 3.875%, 04/30/2030 | 3.3% |
| Becton, Dickinson and Company | 2.7% |
| Roper Technologies, Inc. | 2.7% |
| U.S. Treasury Note, 4.000%, 03/31/2030 | 2.5% |
| PTC, Inc. | 2.3% |

---

**Portfolio Composition**

---

| | |
|:---|:---|
| Common stocks | 60.5% |
| U.S. Government | 14.2% |
| Term loans | 9.2% |
| Corporate bonds | 7.4% |
| Asset-backed securities | 0.1% |
| Short-term investments and other | 8.6% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

CAVA-SA-I

6/25

8/25

Capital Appreciation Value Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Capital Appreciation Value Trust
Series II/JAFQX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Capital Appreciation Value Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Capital Appreciation Value Trust<br>(Series II/JAFQX) | $56 | 1.10% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$483775251 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;251 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;61% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| Microsoft Corp. | 6.6% |
| U.S. Treasury Note, 4.000%, 02/28/2030 | 4.3% |
| Amazon.com, Inc. | 4.2% |
| U.S. Treasury Note, 4.000%, 05/31/2030 | 3.7% |
| NVIDIA Corp. | 3.5% |
| U.S. Treasury Note, 3.875%, 04/30/2030 | 3.3% |
| Becton, Dickinson and Company | 2.7% |
| Roper Technologies, Inc. | 2.7% |
| U.S. Treasury Note, 4.000%, 03/31/2030 | 2.5% |
| PTC, Inc. | 2.3% |

---

**Portfolio Composition**

---

| | |
|:---|:---|
| Common stocks | 60.5% |
| U.S. Government | 14.2% |
| Term loans | 9.2% |
| Corporate bonds | 7.4% |
| Asset-backed securities | 0.1% |
| Short-term investments and other | 8.6% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

CAVA-SA-II

6/25

8/25

Capital Appreciation Value Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Capital Appreciation Value Trust
Series NAV/JAFRX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Capital Appreciation Value Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Capital Appreciation Value Trust<br>(Series NAV/JAFRX) | $43 | 0.85% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$483775251 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;251 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;61% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| Microsoft Corp. | 6.6% |
| U.S. Treasury Note, 4.000%, 02/28/2030 | 4.3% |
| Amazon.com, Inc. | 4.2% |
| U.S. Treasury Note, 4.000%, 05/31/2030 | 3.7% |
| NVIDIA Corp. | 3.5% |
| U.S. Treasury Note, 3.875%, 04/30/2030 | 3.3% |
| Becton, Dickinson and Company | 2.7% |
| Roper Technologies, Inc. | 2.7% |
| U.S. Treasury Note, 4.000%, 03/31/2030 | 2.5% |
| PTC, Inc. | 2.3% |

---

**Portfolio Composition**

---

| | |
|:---|:---|
| Common stocks | 60.5% |
| U.S. Government | 14.2% |
| Term loans | 9.2% |
| Corporate bonds | 7.4% |
| Asset-backed securities | 0.1% |
| Short-term investments and other | 8.6% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

CAVA-SA-NAV

6/25

8/25

Capital Appreciation Value Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Disciplined Value International Trust
Series I/JAJHX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Disciplined Value International Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Disciplined Value International Trust<br>(Series I/JAJHX) | $48 | 0.85% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$302471391 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;85 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;36% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| BAE Systems PLC | 3.0% |
| The Weir Group PLC | 2.8% |
| Heineken NV | 2.3% |
| NAVER Corp. | 2.3% |
| Shell PLC | 2.3% |
| Euronext NV | 2.2% |
| Danske Bank A/S | 2.2% |
| Sandoz Group AG | 2.1% |
| Alibaba Group Holding, Ltd. | 2.0% |
| Enel SpA | 1.9% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Financials | 22.3% |
| Industrials | 21.4% |
| Health care | 8.7% |
| Materials | 8.0% |
| Energy | 7.8% |
| Consumer staples | 7.4% |
| Consumer discretionary | 6.8% |
| Communication services | 6.5% |
| Information technology | 6.3% |
| Utilities | 1.9% |
| Short-term investments and other | 2.9% |

---

**Country Composition**

![Graphical Representation - Allocation 2 Chart](chartimages_5973136.jpg)

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

DVIT-SA-I

6/25

8/25

Disciplined Value International Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Disciplined Value International Trust
Series II/JAJIX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Disciplined Value International Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Disciplined Value International Trust<br>(Series II/JAJIX) | $59 | 1.05% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$302471391 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;85 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;36% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| BAE Systems PLC | 3.0% |
| The Weir Group PLC | 2.8% |
| Heineken NV | 2.3% |
| NAVER Corp. | 2.3% |
| Shell PLC | 2.3% |
| Euronext NV | 2.2% |
| Danske Bank A/S | 2.2% |
| Sandoz Group AG | 2.1% |
| Alibaba Group Holding, Ltd. | 2.0% |
| Enel SpA | 1.9% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Financials | 22.3% |
| Industrials | 21.4% |
| Health care | 8.7% |
| Materials | 8.0% |
| Energy | 7.8% |
| Consumer staples | 7.4% |
| Consumer discretionary | 6.8% |
| Communication services | 6.5% |
| Information technology | 6.3% |
| Utilities | 1.9% |
| Short-term investments and other | 2.9% |

---

**Country Composition**

![Graphical Representation - Allocation 2 Chart](chartimages_5973126.jpg)

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

DVIT-SA-II

6/25

8/25

Disciplined Value International Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Disciplined Value International Trust
Series NAV/JAJJX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Disciplined Value International Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Disciplined Value International Trust<br>(Series NAV/JAJJX) | $45 | 0.80% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$302471391 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;85 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;36% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| BAE Systems PLC | 3.0% |
| The Weir Group PLC | 2.8% |
| Heineken NV | 2.3% |
| NAVER Corp. | 2.3% |
| Shell PLC | 2.3% |
| Euronext NV | 2.2% |
| Danske Bank A/S | 2.2% |
| Sandoz Group AG | 2.1% |
| Alibaba Group Holding, Ltd. | 2.0% |
| Enel SpA | 1.9% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Financials | 22.3% |
| Industrials | 21.4% |
| Health care | 8.7% |
| Materials | 8.0% |
| Energy | 7.8% |
| Consumer staples | 7.4% |
| Consumer discretionary | 6.8% |
| Communication services | 6.5% |
| Information technology | 6.3% |
| Utilities | 1.9% |
| Short-term investments and other | 2.9% |

---

**Country Composition**

![Graphical Representation - Allocation 2 Chart](chartimages_5973094.jpg)

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

DVIT-SA-NAV

6/25

8/25 Disciplined Value International Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Disciplined Value Emerging Markets Equity Trust
Series I/JAJBX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Disciplined Value Emerging Markets Equity Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Disciplined Value Emerging Markets Equity Trust<br>(Series I/JAJBX) | $51 | 0.97% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$240181254 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;170 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;97% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| Taiwan Semiconductor Manufacturing Company, Ltd. | 5.1% |
| Tencent Holdings, Ltd. | 4.9% |
| Samsung Electronics Company, Ltd. | 2.9% |
| Hyundai Mobis Company, Ltd. | 2.8% |
| WuXi AppTec Company, Ltd., H Shares | 2.5% |
| Samsung Electronics Company, Ltd. | 2.3% |
| Sendas Distribuidora SA | 2.0% |
| Millicom International Cellular SA | 2.0% |
| Hana Financial Group, Inc. | 1.9% |
| Muyuan Foods Company, Ltd., Class A | 1.9% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Information technology | 17.3% |
| Communication services | 13.5% |
| Consumer staples | 11.9% |
| Financials | 11.8% |
| Consumer discretionary | 10.9% |
| Health care | 7.7% |
| Materials | 7.7% |
| Industrials | 7.5% |
| Energy | 1.6% |
| Real estate | 1.6% |
| Utilities | 0.4% |
| Short-term investments and other | 8.1% |

---

**Country Composition**

![Graphical Representation - Allocation 2 Chart](chartimages_5973480.jpg)

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

EMVA-SA-I

6/25

8/25 Disciplined Value Emerging Markets Equity Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Disciplined Value Emerging Markets Equity Trust
Series II/JEMTX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Disciplined Value Emerging Markets Equity Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Disciplined Value Emerging Markets Equity Trust<br>(Series II/JEMTX) | $62 | 1.17% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$240181254 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;170 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;97% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| Taiwan Semiconductor Manufacturing Company, Ltd. | 5.1% |
| Tencent Holdings, Ltd. | 4.9% |
| Samsung Electronics Company, Ltd. | 2.9% |
| Hyundai Mobis Company, Ltd. | 2.8% |
| WuXi AppTec Company, Ltd., H Shares | 2.5% |
| Samsung Electronics Company, Ltd. | 2.3% |
| Sendas Distribuidora SA | 2.0% |
| Millicom International Cellular SA | 2.0% |
| Hana Financial Group, Inc. | 1.9% |
| Muyuan Foods Company, Ltd., Class A | 1.9% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Information technology | 17.3% |
| Communication services | 13.5% |
| Consumer staples | 11.9% |
| Financials | 11.8% |
| Consumer discretionary | 10.9% |
| Health care | 7.7% |
| Materials | 7.7% |
| Industrials | 7.5% |
| Energy | 1.6% |
| Real estate | 1.6% |
| Utilities | 0.4% |
| Short-term investments and other | 8.1% |

---

**Country Composition**

![Graphical Representation - Allocation 2 Chart](chartimages_5973458.jpg)

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

EMVA-SA-II

6/25

8/25 Disciplined Value Emerging Markets Equity Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Disciplined Value Emerging Markets Equity Trust
Series NAV/JHVTX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Disciplined Value Emerging Markets Equity Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Disciplined Value Emerging Markets Equity Trust<br>(Series NAV/JHVTX) | $49 | 0.92% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$240181254 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;170 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;97% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| Taiwan Semiconductor Manufacturing Company, Ltd. | 5.1% |
| Tencent Holdings, Ltd. | 4.9% |
| Samsung Electronics Company, Ltd. | 2.9% |
| Hyundai Mobis Company, Ltd. | 2.8% |
| WuXi AppTec Company, Ltd., H Shares | 2.5% |
| Samsung Electronics Company, Ltd. | 2.3% |
| Sendas Distribuidora SA | 2.0% |
| Millicom International Cellular SA | 2.0% |
| Hana Financial Group, Inc. | 1.9% |
| Muyuan Foods Company, Ltd., Class A | 1.9% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Information technology | 17.3% |
| Communication services | 13.5% |
| Consumer staples | 11.9% |
| Financials | 11.8% |
| Consumer discretionary | 10.9% |
| Health care | 7.7% |
| Materials | 7.7% |
| Industrials | 7.5% |
| Energy | 1.6% |
| Real estate | 1.6% |
| Utilities | 0.4% |
| Short-term investments and other | 8.1% |

---

**Country Composition**

![Graphical Representation - Allocation 2 Chart](chartimages_5973438.jpg)

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

EMVA-SA-NAV

6/25

8/25 Disciplined Value Emerging Markets Equity Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Equity Income Trust
Series I/JAEGX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Equity Income Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Equity Income Trust<br>(Series I/JAEGX) | $39 | 0.76% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$824633996 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;123 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;14% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| MetLife, Inc. | 2.1% |
| The Southern Company | 2.1% |
| Qualcomm, Inc. | 2.0% |
| The Charles Schwab Corp. | 1.9% |
| JPMorgan Chase & Co. | 1.9% |
| Wells Fargo & Company | 1.8% |
| Elevance Health, Inc. | 1.8% |
| L3Harris Technologies, Inc. | 1.7% |
| Citigroup, Inc. | 1.7% |
| Kimberly-Clark Corp. | 1.7% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Financials | 22.8% |
| Industrials | 13.5% |
| Health care | 12.7% |
| Information technology | 9.0% |
| Consumer staples | 8.8% |
| Energy | 8.7% |
| Utilities | 6.0% |
| Communication services | 5.9% |
| Consumer discretionary | 4.4% |
| Real estate | 3.6% |
| Materials | 3.0% |
| Short-term investments and other | 1.6% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

EQIN-SA-I

6/25

8/25

Equity Income Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Equity Income Trust
Series II/JAEFX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Equity Income Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Equity Income Trust<br>(Series II/JAEFX) | $49 | 0.96% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$824633996 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;123 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;14% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| MetLife, Inc. | 2.1% |
| The Southern Company | 2.1% |
| Qualcomm, Inc. | 2.0% |
| The Charles Schwab Corp. | 1.9% |
| JPMorgan Chase & Co. | 1.9% |
| Wells Fargo & Company | 1.8% |
| Elevance Health, Inc. | 1.8% |
| L3Harris Technologies, Inc. | 1.7% |
| Citigroup, Inc. | 1.7% |
| Kimberly-Clark Corp. | 1.7% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Financials | 22.8% |
| Industrials | 13.5% |
| Health care | 12.7% |
| Information technology | 9.0% |
| Consumer staples | 8.8% |
| Energy | 8.7% |
| Utilities | 6.0% |
| Communication services | 5.9% |
| Consumer discretionary | 4.4% |
| Real estate | 3.6% |
| Materials | 3.0% |
| Short-term investments and other | 1.6% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

EQIN-SA-II

6/25

8/25

Equity Income Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Equity Income Trust
Series NAV/JAEEX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Equity Income Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Equity Income Trust<br>(Series NAV/JAEEX) | $36 | 0.71% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$824633996 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;123 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;14% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| MetLife, Inc. | 2.1% |
| The Southern Company | 2.1% |
| Qualcomm, Inc. | 2.0% |
| The Charles Schwab Corp. | 1.9% |
| JPMorgan Chase & Co. | 1.9% |
| Wells Fargo & Company | 1.8% |
| Elevance Health, Inc. | 1.8% |
| L3Harris Technologies, Inc. | 1.7% |
| Citigroup, Inc. | 1.7% |
| Kimberly-Clark Corp. | 1.7% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Financials | 22.8% |
| Industrials | 13.5% |
| Health care | 12.7% |
| Information technology | 9.0% |
| Consumer staples | 8.8% |
| Energy | 8.7% |
| Utilities | 6.0% |
| Communication services | 5.9% |
| Consumer discretionary | 4.4% |
| Real estate | 3.6% |
| Materials | 3.0% |
| Short-term investments and other | 1.6% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

EQIN-SA-NAV

6/25

8/25

Equity Income Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Financial Industries Trust
Series I/JEFSX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Financial Industries Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Financial Industries Trust<br>(Series I/JEFSX) | $47 | 0.92% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$139097982 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;52 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;26% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| Wells Fargo & Company | 4.5% |
| Citigroup, Inc. | 3.9% |
| JPMorgan Chase & Co. | 3.8% |
| M&T Bank Corp. | 3.6% |
| Nasdaq, Inc. | 3.6% |
| Bank of America Corp. | 3.6% |
| The Goldman Sachs Group, Inc. | 3.2% |
| CME Group, Inc. | 2.9% |
| The Allstate Corp. | 2.9% |
| Visa, Inc., Class A | 2.6% |

---

**Industry Composition** 

---

| | |
|:---|:---|
| Banks | 35.7% |
| Capital markets | 24.8% |
| Insurance | 24.4% |
| Financial services | 9.9% |
| Consumer finance | 1.6% |
| Specialized REITs | 0.7% |
| Short-term investments and other | 2.9% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

FINI-SA-I

6/25

8/25

Financial Industries Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Financial Industries Trust
Series II/JEFCX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Financial Industries Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Financial Industries Trust<br>(Series II/JEFCX) | $57 | 1.12% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$139097982 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;52 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;26% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| Wells Fargo & Company | 4.5% |
| Citigroup, Inc. | 3.9% |
| JPMorgan Chase & Co. | 3.8% |
| M&T Bank Corp. | 3.6% |
| Nasdaq, Inc. | 3.6% |
| Bank of America Corp. | 3.6% |
| The Goldman Sachs Group, Inc. | 3.2% |
| CME Group, Inc. | 2.9% |
| The Allstate Corp. | 2.9% |
| Visa, Inc., Class A | 2.6% |

---

**Industry Composition** 

---

| | |
|:---|:---|
| Banks | 35.7% |
| Capital markets | 24.8% |
| Insurance | 24.4% |
| Financial services | 9.9% |
| Consumer finance | 1.6% |
| Specialized REITs | 0.7% |
| Short-term investments and other | 2.9% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

FINI-SA-II

6/25

8/25

Financial Industries Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Financial Industries Trust
Series NAV/JAFNX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Financial Industries Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Financial Industries Trust<br>(Series NAV/JAFNX) | $45 | 0.87% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$139097982 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;52 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;26% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| Wells Fargo & Company | 4.5% |
| Citigroup, Inc. | 3.9% |
| JPMorgan Chase & Co. | 3.8% |
| M&T Bank Corp. | 3.6% |
| Nasdaq, Inc. | 3.6% |
| Bank of America Corp. | 3.6% |
| The Goldman Sachs Group, Inc. | 3.2% |
| CME Group, Inc. | 2.9% |
| The Allstate Corp. | 2.9% |
| Visa, Inc., Class A | 2.6% |

---

**Industry Composition** 

---

| | |
|:---|:---|
| Banks | 35.7% |
| Capital markets | 24.8% |
| Insurance | 24.4% |
| Financial services | 9.9% |
| Consumer finance | 1.6% |
| Specialized REITs | 0.7% |
| Short-term investments and other | 2.9% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

FINI-SA-NAV

6/25

8/25

Financial Industries Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Fundamental All Cap Core Trust
Series I/JEQAX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Fundamental All Cap Core Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Fundamental All Cap Core Trust<br>(Series I/JEQAX) | $37 | 0.75% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$2500061760 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;49 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;13% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| Amazon.com, Inc. | 8.4% |
| NVIDIA Corp. | 6.5% |
| Alphabet, Inc., Class A | 5.0% |
| Cheniere Energy, Inc. | 4.0% |
| Apple, Inc. | 4.0% |
| Workday, Inc., Class A | 3.9% |
| KKR & Company, Inc. | 3.8% |
| First Hawaiian, Inc. | 3.6% |
| Lennar Corp., Class A | 3.4% |
| Hologic, Inc. | 3.3% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Information technology | 30.0% |
| Consumer discretionary | 22.3% |
| Financials | 13.1% |
| Health care | 10.2% |
| Communication services | 9.7% |
| Energy | 5.1% |
| Consumer staples | 3.7% |
| Industrials | 3.4% |
| Real estate | 2.1% |
| Short-term investments and other | 0.4% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

FUAC-SA-I

6/25

8/25

Fundamental All Cap Core Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Fundamental All Cap Core Trust
Series II/JFLGX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Fundamental All Cap Core Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Fundamental All Cap Core Trust<br>(Series II/JFLGX) | $47 | 0.95% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$2500061760 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;49 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;13% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| Amazon.com, Inc. | 8.4% |
| NVIDIA Corp. | 6.5% |
| Alphabet, Inc., Class A | 5.0% |
| Cheniere Energy, Inc. | 4.0% |
| Apple, Inc. | 4.0% |
| Workday, Inc., Class A | 3.9% |
| KKR & Company, Inc. | 3.8% |
| First Hawaiian, Inc. | 3.6% |
| Lennar Corp., Class A | 3.4% |
| Hologic, Inc. | 3.3% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Information technology | 30.0% |
| Consumer discretionary | 22.3% |
| Financials | 13.1% |
| Health care | 10.2% |
| Communication services | 9.7% |
| Energy | 5.1% |
| Consumer staples | 3.7% |
| Industrials | 3.4% |
| Real estate | 2.1% |
| Short-term investments and other | 0.4% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

FUAC-SA-II

6/25

8/25

Fundamental All Cap Core Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Fundamental All Cap Core Trust
Series NAV/JADDX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Fundamental All Cap Core Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Fundamental All Cap Core Trust<br>(Series NAV/JADDX) | $35 | 0.70% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$2500061760 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;49 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;13% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| Amazon.com, Inc. | 8.4% |
| NVIDIA Corp. | 6.5% |
| Alphabet, Inc., Class A | 5.0% |
| Cheniere Energy, Inc. | 4.0% |
| Apple, Inc. | 4.0% |
| Workday, Inc., Class A | 3.9% |
| KKR & Company, Inc. | 3.8% |
| First Hawaiian, Inc. | 3.6% |
| Lennar Corp., Class A | 3.4% |
| Hologic, Inc. | 3.3% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Information technology | 30.0% |
| Consumer discretionary | 22.3% |
| Financials | 13.1% |
| Health care | 10.2% |
| Communication services | 9.7% |
| Energy | 5.1% |
| Consumer staples | 3.7% |
| Industrials | 3.4% |
| Real estate | 2.1% |
| Short-term investments and other | 0.4% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

FUAC-SA-NAV

6/25

8/25

Fundamental All Cap Core Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Fundamental Large Cap Value Trust
Series I/JVFLX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Fundamental Large Cap Value Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Fundamental Large Cap Value Trust<br>(Series I/JVFLX) | $39 | 0.77% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$816027365 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;60 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;6% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| Cheniere Energy, Inc. | 5.1% |
| Oracle Corp. | 4.4% |
| Nasdaq, Inc. | 4.1% |
| Elevance Health, Inc. | 4.1% |
| Crown Castle, Inc. | 3.5% |
| Microsoft Corp. | 3.3% |
| Walmart, Inc. | 3.3% |
| Hologic, Inc. | 3.1% |
| Comcast Corp., Class A | 3.0% |
| United Rentals, Inc. | 2.8% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Health care | 19.6% |
| Financials | 18.4% |
| Information technology | 14.6% |
| Industrials | 12.0% |
| Consumer staples | 8.8% |
| Energy | 7.7% |
| Communication services | 7.3% |
| Consumer discretionary | 6.8% |
| Real estate | 3.5% |
| Materials | 0.8% |
| Short-term investments and other | 0.5% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

FULA-SA-I

6/25

8/25

Fundamental Large Cap Value Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Fundamental Large Cap Value Trust
Series II/JADJX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Fundamental Large Cap Value Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Fundamental Large Cap Value Trust<br>(Series II/JADJX) | $50 | 0.97% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$816027365 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;60 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;6% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| Cheniere Energy, Inc. | 5.1% |
| Oracle Corp. | 4.4% |
| Nasdaq, Inc. | 4.1% |
| Elevance Health, Inc. | 4.1% |
| Crown Castle, Inc. | 3.5% |
| Microsoft Corp. | 3.3% |
| Walmart, Inc. | 3.3% |
| Hologic, Inc. | 3.1% |
| Comcast Corp., Class A | 3.0% |
| United Rentals, Inc. | 2.8% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Health care | 19.6% |
| Financials | 18.4% |
| Information technology | 14.6% |
| Industrials | 12.0% |
| Consumer staples | 8.8% |
| Energy | 7.7% |
| Communication services | 7.3% |
| Consumer discretionary | 6.8% |
| Real estate | 3.5% |
| Materials | 0.8% |
| Short-term investments and other | 0.5% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

FULA-SA-II

6/25

8/25

Fundamental Large Cap Value Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Fundamental Large Cap Value Trust
Series NAV/JADIX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Fundamental Large Cap Value Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Fundamental Large Cap Value Trust<br>(Series NAV/JADIX) | $37 | 0.72% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$816027365 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;60 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;6% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| Cheniere Energy, Inc. | 5.1% |
| Oracle Corp. | 4.4% |
| Nasdaq, Inc. | 4.1% |
| Elevance Health, Inc. | 4.1% |
| Crown Castle, Inc. | 3.5% |
| Microsoft Corp. | 3.3% |
| Walmart, Inc. | 3.3% |
| Hologic, Inc. | 3.1% |
| Comcast Corp., Class A | 3.0% |
| United Rentals, Inc. | 2.8% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Health care | 19.6% |
| Financials | 18.4% |
| Information technology | 14.6% |
| Industrials | 12.0% |
| Consumer staples | 8.8% |
| Energy | 7.7% |
| Communication services | 7.3% |
| Consumer discretionary | 6.8% |
| Real estate | 3.5% |
| Materials | 0.8% |
| Short-term investments and other | 0.5% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

FULA-SA-NAV

6/25

8/25

Fundamental Large Cap Value Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Global Equity Trust
Series I/JEFGX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Global Equity Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Global Equity Trust<br>(Series I/JEFGX) | $48 | 0.93% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$297471515 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;61 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;22% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| Microsoft Corp. | 4.0% |
| Wells Fargo & Company | 2.9% |
| Philip Morris International, Inc. | 2.9% |
| ING Groep NV | 2.6% |
| McKesson Corp. | 2.5% |
| Medtronic PLC | 2.5% |
| L3Harris Technologies, Inc. | 2.4% |
| AutoZone, Inc. | 2.4% |
| Sony Group Corp. | 2.2% |
| Samsung Electronics Company, Ltd. | 2.1% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Financials | 19.4% |
| Industrials | 16.1% |
| Information technology | 13.4% |
| Consumer discretionary | 11.0% |
| Health care | 10.9% |
| Consumer staples | 9.3% |
| Communication services | 6.7% |
| Materials | 6.2% |
| Energy | 5.5% |
| Short-term investments and other | 1.5% |

---

**Country Composition**

![Graphical Representation - Allocation 2 Chart](chartimages_5973219.jpg)

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

GLOE-SA-I

6/25

8/25

Global Equity Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Global Equity Trust
Series II/JAJFX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Global Equity Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Global Equity Trust<br>(Series II/JAJFX) | $59 | 1.13% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$297471515 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;61 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;22% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| Microsoft Corp. | 4.0% |
| Wells Fargo & Company | 2.9% |
| Philip Morris International, Inc. | 2.9% |
| ING Groep NV | 2.6% |
| McKesson Corp. | 2.5% |
| Medtronic PLC | 2.5% |
| L3Harris Technologies, Inc. | 2.4% |
| AutoZone, Inc. | 2.4% |
| Sony Group Corp. | 2.2% |
| Samsung Electronics Company, Ltd. | 2.1% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Financials | 19.4% |
| Industrials | 16.1% |
| Information technology | 13.4% |
| Consumer discretionary | 11.0% |
| Health care | 10.9% |
| Consumer staples | 9.3% |
| Communication services | 6.7% |
| Materials | 6.2% |
| Energy | 5.5% |
| Short-term investments and other | 1.5% |

---

**Country Composition**

![Graphical Representation - Allocation 2 Chart](chartimages_5973209.jpg)

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

GLOE-SA-II

6/25

8/25

Global Equity Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Global Equity Trust
Series NAV/JAJGX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Global Equity Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Global Equity Trust<br>(Series NAV/JAJGX) | $46 | 0.88% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$297471515 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;61 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;22% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| Microsoft Corp. | 4.0% |
| Wells Fargo & Company | 2.9% |
| Philip Morris International, Inc. | 2.9% |
| ING Groep NV | 2.6% |
| McKesson Corp. | 2.5% |
| Medtronic PLC | 2.5% |
| L3Harris Technologies, Inc. | 2.4% |
| AutoZone, Inc. | 2.4% |
| Sony Group Corp. | 2.2% |
| Samsung Electronics Company, Ltd. | 2.1% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Financials | 19.4% |
| Industrials | 16.1% |
| Information technology | 13.4% |
| Consumer discretionary | 11.0% |
| Health care | 10.9% |
| Consumer staples | 9.3% |
| Communication services | 6.7% |
| Materials | 6.2% |
| Energy | 5.5% |
| Short-term investments and other | 1.5% |

---

**Country Composition**

![Graphical Representation - Allocation 2 Chart](chartimages_5973177.jpg)

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

GLOE-SA-NAV

6/25

8/25

Global Equity Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Health Sciences Trust
Series I/JEHSX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Health Sciences Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Health Sciences Trust<br>(Series I/JEHSX) | $46 | 0.95% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$210604678 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;151 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;25% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| Eli Lilly & Company | 12.1% |
| Intuitive Surgical, Inc. | 5.9% |
| UnitedHealth Group, Inc. | 5.2% |
| Stryker Corp. | 5.1% |
| Vertex Pharmaceuticals, Inc. | 3.9% |
| Boston Scientific Corp. | 3.8% |
| Argenx SE, ADR | 3.4% |
| Danaher Corp. | 3.2% |
| Thermo Fisher Scientific, Inc. | 3.1% |
| Alnylam Pharmaceuticals, Inc. | 3.0% |

---

**Industry Composition** 

---

| | |
|:---|:---|
| Biotechnology | 38.3% |
| Health care equipment and supplies | 19.4% |
| Pharmaceuticals | 17.3% |
| Health care providers and services | 16.2% |
| Life sciences tools and services | 7.9% |
| Health care technology | 0.4% |
| Insurance | 0.1% |
| Financial services | 0.1% |
| Short-term investments and other | 0.3% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

HEAS-SA-I

6/25

8/25

Health Sciences Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Health Sciences Trust
Series II/JAFKX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Health Sciences Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Health Sciences Trust<br>(Series II/JAFKX) | $56 | 1.15% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$210604678 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;151 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;25% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| Eli Lilly & Company | 12.1% |
| Intuitive Surgical, Inc. | 5.9% |
| UnitedHealth Group, Inc. | 5.2% |
| Stryker Corp. | 5.1% |
| Vertex Pharmaceuticals, Inc. | 3.9% |
| Boston Scientific Corp. | 3.8% |
| Argenx SE, ADR | 3.4% |
| Danaher Corp. | 3.2% |
| Thermo Fisher Scientific, Inc. | 3.1% |
| Alnylam Pharmaceuticals, Inc. | 3.0% |

---

**Industry Composition** 

---

| | |
|:---|:---|
| Biotechnology | 38.3% |
| Health care equipment and supplies | 19.4% |
| Pharmaceuticals | 17.3% |
| Health care providers and services | 16.2% |
| Life sciences tools and services | 7.9% |
| Health care technology | 0.4% |
| Insurance | 0.1% |
| Financial services | 0.1% |
| Short-term investments and other | 0.3% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

HEAS-SA-II

6/25

8/25

Health Sciences Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Health Sciences Trust
Series NAV/JAFMX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Health Sciences Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Health Sciences Trust<br>(Series NAV/JAFMX) | $44 | 0.90% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$210604678 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;151 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;25% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| Eli Lilly & Company | 12.1% |
| Intuitive Surgical, Inc. | 5.9% |
| UnitedHealth Group, Inc. | 5.2% |
| Stryker Corp. | 5.1% |
| Vertex Pharmaceuticals, Inc. | 3.9% |
| Boston Scientific Corp. | 3.8% |
| Argenx SE, ADR | 3.4% |
| Danaher Corp. | 3.2% |
| Thermo Fisher Scientific, Inc. | 3.1% |
| Alnylam Pharmaceuticals, Inc. | 3.0% |

---

**Industry Composition** 

---

| | |
|:---|:---|
| Biotechnology | 38.3% |
| Health care equipment and supplies | 19.4% |
| Pharmaceuticals | 17.3% |
| Health care providers and services | 16.2% |
| Life sciences tools and services | 7.9% |
| Health care technology | 0.4% |
| Insurance | 0.1% |
| Financial services | 0.1% |
| Short-term investments and other | 0.3% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

HEAS-SA-NAV

6/25

8/25

Health Sciences Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust International Equity Index Trust
Series I/JIEQX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the International Equity Index Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| International Equity Index Trust<br>(Series I/JIEQX) | $22 | 0.40% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$1074017266 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1995 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;2% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| Taiwan Semiconductor Manufacturing Company, Ltd. | 3.0% |
| Tencent Holdings, Ltd. | 1.4% |
| SAP SE | 1.1% |
| ASML Holding NV | 1.1% |
| Nestle SA | 0.9% |
| Alibaba Group Holding, Ltd. | 0.8% |
| Novartis AG | 0.8% |
| Roche Holding AG | 0.8% |
| Novo Nordisk A/S, Class B | 0.7% |
| AstraZeneca PLC | 0.7% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Financials | 24.5% |
| Industrials | 14.7% |
| Information technology | 13.2% |
| Consumer discretionary | 10.1% |
| Health care | 8.0% |
| Consumer staples | 6.6% |
| Communication services | 6.3% |
| Materials | 6.2% |
| Energy | 4.5% |
| Utilities | 3.1% |
| Real estate | 1.6% |
| Short-term investments and other | 1.2% |

---

**Country Composition**

![Graphical Representation - Allocation 2 Chart](chartimages_5973302.jpg)

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

INDE-SA-I

6/25

8/25

International Equity Index Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust International Equity Index Trust
Series II/JAJEX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the International Equity Index Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| International Equity Index Trust<br>(Series II/JAJEX) | $33 | 0.60% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$1074017266 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1995 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;2% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| Taiwan Semiconductor Manufacturing Company, Ltd. | 3.0% |
| Tencent Holdings, Ltd. | 1.4% |
| SAP SE | 1.1% |
| ASML Holding NV | 1.1% |
| Nestle SA | 0.9% |
| Alibaba Group Holding, Ltd. | 0.8% |
| Novartis AG | 0.8% |
| Roche Holding AG | 0.8% |
| Novo Nordisk A/S, Class B | 0.7% |
| AstraZeneca PLC | 0.7% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Financials | 24.5% |
| Industrials | 14.7% |
| Information technology | 13.2% |
| Consumer discretionary | 10.1% |
| Health care | 8.0% |
| Consumer staples | 6.6% |
| Communication services | 6.3% |
| Materials | 6.2% |
| Energy | 4.5% |
| Utilities | 3.1% |
| Real estate | 1.6% |
| Short-term investments and other | 1.2% |

---

**Country Composition**

![Graphical Representation - Allocation 2 Chart](chartimages_5973292.jpg)

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

INDE-SA-II

6/25

8/25

International Equity Index Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust International Equity Index Trust
Series NAV/JVANX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the International Equity Index Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| International Equity Index Trust<br>(Series NAV/JVANX) | $19 | 0.35% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$1074017266 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1995 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;2% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| Taiwan Semiconductor Manufacturing Company, Ltd. | 3.0% |
| Tencent Holdings, Ltd. | 1.4% |
| SAP SE | 1.1% |
| ASML Holding NV | 1.1% |
| Nestle SA | 0.9% |
| Alibaba Group Holding, Ltd. | 0.8% |
| Novartis AG | 0.8% |
| Roche Holding AG | 0.8% |
| Novo Nordisk A/S, Class B | 0.7% |
| AstraZeneca PLC | 0.7% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Financials | 24.5% |
| Industrials | 14.7% |
| Information technology | 13.2% |
| Consumer discretionary | 10.1% |
| Health care | 8.0% |
| Consumer staples | 6.6% |
| Communication services | 6.3% |
| Materials | 6.2% |
| Energy | 4.5% |
| Utilities | 3.1% |
| Real estate | 1.6% |
| Short-term investments and other | 1.2% |

---

**Country Composition**

![Graphical Representation - Allocation 2 Chart](chartimages_5973260.jpg)

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

INDE-SA-NAV

6/25

8/25

International Equity Index Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust International Small Company Trust
Series I/JAJCX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the International Small Company Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| International Small Company Trust<br>(Series I/JAJCX) | $58 | 1.05% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$105380020 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;2830 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;7% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| Swiss Prime Site AG | 0.5% |
| BAWAG Group AG | 0.4% |
| Belimo Holding AG | 0.4% |
| PSP Swiss Property AG | 0.4% |
| SPIE SA | 0.3% |
| Baloise Holding AG | 0.3% |
| Hensoldt AG | 0.3% |
| Gaztransport Et Technigaz SA | 0.3% |
| LEG Immobilien SE | 0.3% |
| Orion OYJ, Class B | 0.3% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Industrials | 24.3% |
| Financials | 14.3% |
| Materials | 12.7% |
| Consumer discretionary | 12.2% |
| Information technology | 7.9% |
| Consumer staples | 5.4% |
| Health care | 5.4% |
| Energy | 4.8% |
| Real estate | 4.5% |
| Communication services | 3.6% |
| Utilities | 3.4% |
| Short-term investments and other | 1.5% |

---

**Country Composition**

![Graphical Representation - Allocation 2 Chart](chartimages_5973397.jpg)

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

INSC-SA-I

6/25

8/25

International Small Company Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust International Small Company Trust
Series II/JAADX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the International Small Company Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| International Small Company Trust<br>(Series II/JAADX) | $69 | 1.25% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$105380020 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;2830 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;7% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| Swiss Prime Site AG | 0.5% |
| BAWAG Group AG | 0.4% |
| Belimo Holding AG | 0.4% |
| PSP Swiss Property AG | 0.4% |
| SPIE SA | 0.3% |
| Baloise Holding AG | 0.3% |
| Hensoldt AG | 0.3% |
| Gaztransport Et Technigaz SA | 0.3% |
| LEG Immobilien SE | 0.3% |
| Orion OYJ, Class B | 0.3% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Industrials | 24.3% |
| Financials | 14.3% |
| Materials | 12.7% |
| Consumer discretionary | 12.2% |
| Information technology | 7.9% |
| Consumer staples | 5.4% |
| Health care | 5.4% |
| Energy | 4.8% |
| Real estate | 4.5% |
| Communication services | 3.6% |
| Utilities | 3.4% |
| Short-term investments and other | 1.5% |

---

**Country Composition**

![Graphical Representation - Allocation 2 Chart](chartimages_5973375.jpg)

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

INSC-SA-II

6/25

8/25

International Small Company Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust International Small Company Trust
Series NAV/JAJDX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the International Small Company Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| International Small Company Trust<br>(Series NAV/JAJDX) | $55 | 1.00% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$105380020 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;2830 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;7% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| Swiss Prime Site AG | 0.5% |
| BAWAG Group AG | 0.4% |
| Belimo Holding AG | 0.4% |
| PSP Swiss Property AG | 0.4% |
| SPIE SA | 0.3% |
| Baloise Holding AG | 0.3% |
| Hensoldt AG | 0.3% |
| Gaztransport Et Technigaz SA | 0.3% |
| LEG Immobilien SE | 0.3% |
| Orion OYJ, Class B | 0.3% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Industrials | 24.3% |
| Financials | 14.3% |
| Materials | 12.7% |
| Consumer discretionary | 12.2% |
| Information technology | 7.9% |
| Consumer staples | 5.4% |
| Health care | 5.4% |
| Energy | 4.8% |
| Real estate | 4.5% |
| Communication services | 3.6% |
| Utilities | 3.4% |
| Short-term investments and other | 1.5% |

---

**Country Composition**

![Graphical Representation - Allocation 2 Chart](chartimages_5973355.jpg)

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

INSC-SA-NAV

6/25

8/25

International Small Company Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Lifestyle Balanced Portfolio
Series I/JHBPX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Lifestyle Balanced Portfolio (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Lifestyle Balanced Portfolio<br>(Series I/JHBPX) | $6 | 0.12% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$979477236 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;3 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;1% |

---

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

**Asset Allocation**

---

| | |
|:---|:---|
| **Affiliated investment companies** | **100.0%** |
| Equity | 51.4% |
| Fixed income | 48.6% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

LBP-SA-I

6/25

8/25

Lifestyle Balanced Portfolio

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Lifestyle Balanced Portfolio
Series II/JAILX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Lifestyle Balanced Portfolio (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Lifestyle Balanced Portfolio<br>(Series II/JAILX) | $16 | 0.32% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$979477236 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;3 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;1% |

---

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

**Asset Allocation**

---

| | |
|:---|:---|
| **Affiliated investment companies** | **100.0%** |
| Equity | 51.4% |
| Fixed income | 48.6% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

LBP-SA-II

6/25

8/25

Lifestyle Balanced Portfolio

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Lifestyle Balanced Portfolio
Series NAV/JAINX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Lifestyle Balanced Portfolio (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Lifestyle Balanced Portfolio<br>(Series NAV/JAINX) | $4 | 0.07% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$979477236 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;3 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;1% |

---

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

**Asset Allocation**

---

| | |
|:---|:---|
| **Affiliated investment companies** | **100.0%** |
| Equity | 51.4% |
| Fixed income | 48.6% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

LBP-SA-NAV

6/25

8/25 Lifestyle Balanced Portfolio

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Lifestyle Conservative Portfolio
Series I/JHCIX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Lifestyle Conservative Portfolio (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Lifestyle Conservative Portfolio<br>(Series I/JHCIX) | $7 | 0.13% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$153058106 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;3 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;3% |

---

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

**Asset Allocation**

---

| | |
|:---|:---|
| **Affiliated investment companies** | **100.0%** |
| Fixed income | 79.9% |
| Equity | 20.1% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

LICO-SA-I

6/25

8/25 Lifestyle Conservative Portfolio

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Lifestyle Conservative Portfolio
Series II/JAIRX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Lifestyle Conservative Portfolio (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Lifestyle Conservative Portfolio<br>(Series II/JAIRX) | $17 | 0.33% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$153058106 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;3 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;3% |

---

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

**Asset Allocation**

---

| | |
|:---|:---|
| **Affiliated investment companies** | **100.0%** |
| Fixed income | 79.9% |
| Equity | 20.1% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

LICO-SA-II

6/25

8/25 Lifestyle Conservative Portfolio

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Lifestyle Conservative Portfolio
Series NAV/JAIQX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Lifestyle Conservative Portfolio (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Lifestyle Conservative Portfolio<br>(Series NAV/JAIQX) | $4 | 0.08% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$153058106 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;3 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;3% |

---

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

**Asset Allocation**

---

| | |
|:---|:---|
| **Affiliated investment companies** | **100.0%** |
| Fixed income | 79.9% |
| Equity | 20.1% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

LICO-SA-NAV

6/25

8/25 Lifestyle Conservative Portfolio

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Lifestyle Growth Portfolio
Series I/JHGPX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Lifestyle Growth Portfolio (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Lifestyle Growth Portfolio<br>(Series I/JHGPX) | $6 | 0.12% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$5133700741 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;3 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;0% |

---

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

**Asset Allocation**

---

| | |
|:---|:---|
| **Affiliated investment companies** | **100.0%** |
| Equity | 71.5% |
| Fixed income | 28.5% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

LIGR-SA-I

6/25

8/25

Lifestyle Growth Portfolio

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Lifestyle Growth Portfolio
Series II/JAIKX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Lifestyle Growth Portfolio (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Lifestyle Growth Portfolio<br>(Series II/JAIKX) | $17 | 0.32% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$5133700741 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;3 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;0% |

---

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

**Asset Allocation**

---

| | |
|:---|:---|
| **Affiliated investment companies** | **100.0%** |
| Equity | 71.5% |
| Fixed income | 28.5% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

LIGR-SA-II

6/25

8/25

Lifestyle Growth Portfolio

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Lifestyle Growth Portfolio
Series NAV/JAIJX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Lifestyle Growth Portfolio (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Lifestyle Growth Portfolio<br>(Series NAV/JAIJX) | $4 | 0.07% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$5133700741 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;3 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;0% |

---

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

**Asset Allocation**

---

| | |
|:---|:---|
| **Affiliated investment companies** | **100.0%** |
| Equity | 71.5% |
| Fixed income | 28.5% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

LIGR-SA-NAV

6/25

8/25

Lifestyle Growth Portfolio

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Lifestyle Moderate Portfolio
Series I/JHMPX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Lifestyle Moderate Portfolio (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Lifestyle Moderate Portfolio<br>(Series I/JHMPX) | $7 | 0.13% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$269529024 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;3 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;2% |

---

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

**Asset Allocation**

---

| | |
|:---|:---|
| **Affiliated investment companies** | **100.0%** |
| Fixed income | 59.4% |
| Equity | 40.6% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

LIMO-SA-I

6/25

8/25

Lifestyle Moderate Portfolio

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Lifestyle Moderate Portfolio
Series II/JAIPX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Lifestyle Moderate Portfolio (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Lifestyle Moderate Portfolio<br>(Series II/JAIPX) | $17 | 0.33% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$269529024 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;3 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;2% |

---

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

**Asset Allocation**

---

| | |
|:---|:---|
| **Affiliated investment companies** | **100.0%** |
| Fixed income | 59.4% |
| Equity | 40.6% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

LIMO-SA-II

6/25

8/25

Lifestyle Moderate Portfolio

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Lifestyle Moderate Portfolio
Series NAV/JAIOX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Lifestyle Moderate Portfolio (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Lifestyle Moderate Portfolio<br>(Series NAV/JAIOX) | $4 | 0.08% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$269529024 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;3 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;2% |

---

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

**Asset Allocation**

---

| | |
|:---|:---|
| **Affiliated investment companies** | **100.0%** |
| Fixed income | 59.4% |
| Equity | 40.6% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

LIMO-SA-NAV

6/25

8/25

Lifestyle Moderate Portfolio

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Mid Cap Growth Trust
Series I/JAETX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Mid Cap Growth Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Mid Cap Growth Trust<br>(Series I/JAETX) | $47 | 0.93% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$649992276 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;75 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;83% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| Live Nation Entertainment, Inc. | 3.5% |
| Liberty Media Corp.-Liberty Formula One, Series C | 3.4% |
| Celestica, Inc. | 3.0% |
| Natera, Inc. | 2.8% |
| DraftKings, Inc., Class A | 2.8% |
| Tradeweb Markets, Inc., Class A | 2.7% |
| Royal Caribbean Cruises, Ltd. | 2.6% |
| Cloudflare, Inc., Class A | 2.6% |
| GoDaddy, Inc., Class A | 2.3% |
| Marriott International, Inc., Class A | 2.3% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Information technology | 23.0% |
| Consumer discretionary | 21.2% |
| Health care | 13.6% |
| Financials | 10.9% |
| Industrials | 10.2% |
| Communication services | 8.4% |
| Energy | 3.4% |
| Real estate | 3.2% |
| Consumer staples | 2.9% |
| Utilities | 1.6% |
| Short-term investments and other | 1.6% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

MIGR-SA-I

6/25

8/25

Mid Cap Growth Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Mid Cap Growth Trust
Series II/JAEUX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Mid Cap Growth Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Mid Cap Growth Trust<br>(Series II/JAEUX) | $57 | 1.13% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$649992276 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;75 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;83% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| Live Nation Entertainment, Inc. | 3.5% |
| Liberty Media Corp.-Liberty Formula One, Series C | 3.4% |
| Celestica, Inc. | 3.0% |
| Natera, Inc. | 2.8% |
| DraftKings, Inc., Class A | 2.8% |
| Tradeweb Markets, Inc., Class A | 2.7% |
| Royal Caribbean Cruises, Ltd. | 2.6% |
| Cloudflare, Inc., Class A | 2.6% |
| GoDaddy, Inc., Class A | 2.3% |
| Marriott International, Inc., Class A | 2.3% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Information technology | 23.0% |
| Consumer discretionary | 21.2% |
| Health care | 13.6% |
| Financials | 10.9% |
| Industrials | 10.2% |
| Communication services | 8.4% |
| Energy | 3.4% |
| Real estate | 3.2% |
| Consumer staples | 2.9% |
| Utilities | 1.6% |
| Short-term investments and other | 1.6% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

MIGR-SA-II

6/25

8/25

Mid Cap Growth Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Mid Cap Growth Trust
Series NAV/JAEVX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Mid Cap Growth Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Mid Cap Growth Trust<br>(Series NAV/JAEVX) | $45 | 0.88% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$649992276 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;75 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;83% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| Live Nation Entertainment, Inc. | 3.5% |
| Liberty Media Corp.-Liberty Formula One, Series C | 3.4% |
| Celestica, Inc. | 3.0% |
| Natera, Inc. | 2.8% |
| DraftKings, Inc., Class A | 2.8% |
| Tradeweb Markets, Inc., Class A | 2.7% |
| Royal Caribbean Cruises, Ltd. | 2.6% |
| Cloudflare, Inc., Class A | 2.6% |
| GoDaddy, Inc., Class A | 2.3% |
| Marriott International, Inc., Class A | 2.3% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Information technology | 23.0% |
| Consumer discretionary | 21.2% |
| Health care | 13.6% |
| Financials | 10.9% |
| Industrials | 10.2% |
| Communication services | 8.4% |
| Energy | 3.4% |
| Real estate | 3.2% |
| Consumer staples | 2.9% |
| Utilities | 1.6% |
| Short-term investments and other | 1.6% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

MIGR-SA-NAV

6/25

8/25 Mid Cap Growth Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Mid Cap Index Trust
Series I/JECIX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Mid Cap Index Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Mid Cap Index Trust<br>(Series I/JECIX) | $23 | 0.46% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$1177225214 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;403 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;5% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| Interactive Brokers Group, Inc., Class A | 0.8% |
| EMCOR Group, Inc. | 0.8% |
| Guidewire Software, Inc. | 0.7% |
| RB Global, Inc. | 0.7% |
| Flex, Ltd. | 0.6% |
| Casey's General Stores, Inc. | 0.6% |
| Comfort Systems USA, Inc. | 0.6% |
| Curtiss-Wright Corp. | 0.6% |
| Pure Storage, Inc., Class A | 0.6% |
| U.S. Foods Holding Corp. | 0.6% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Industrials | 22.0% |
| Financials | 17.6% |
| Consumer discretionary | 12.8% |
| Information technology | 11.3% |
| Health care | 8.3% |
| Real estate | 6.6% |
| Materials | 5.2% |
| Consumer staples | 5.2% |
| Energy | 3.6% |
| Utilities | 2.8% |
| Communication services | 1.2% |
| Short-term investments and other | 3.4% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

MIDC-SA-I

6/25

8/25

Mid Cap Index Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Mid Cap Index Trust
Series II/JAEZX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Mid Cap Index Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Mid Cap Index Trust<br>(Series II/JAEZX) | $33 | 0.66% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$1177225214 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;403 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;5% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| Interactive Brokers Group, Inc., Class A | 0.8% |
| EMCOR Group, Inc. | 0.8% |
| Guidewire Software, Inc. | 0.7% |
| RB Global, Inc. | 0.7% |
| Flex, Ltd. | 0.6% |
| Casey's General Stores, Inc. | 0.6% |
| Comfort Systems USA, Inc. | 0.6% |
| Curtiss-Wright Corp. | 0.6% |
| Pure Storage, Inc., Class A | 0.6% |
| U.S. Foods Holding Corp. | 0.6% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Industrials | 22.0% |
| Financials | 17.6% |
| Consumer discretionary | 12.8% |
| Information technology | 11.3% |
| Health care | 8.3% |
| Real estate | 6.6% |
| Materials | 5.2% |
| Consumer staples | 5.2% |
| Energy | 3.6% |
| Utilities | 2.8% |
| Communication services | 1.2% |
| Short-term investments and other | 3.4% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

MIDC-SA-II

6/25

8/25

Mid Cap Index Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Mid Cap Index Trust
Series NAV/JAEYX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Mid Cap Index Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Mid Cap Index Trust<br>(Series NAV/JAEYX) | $20 | 0.41% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$1177225214 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;403 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;5% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| Interactive Brokers Group, Inc., Class A | 0.8% |
| EMCOR Group, Inc. | 0.8% |
| Guidewire Software, Inc. | 0.7% |
| RB Global, Inc. | 0.7% |
| Flex, Ltd. | 0.6% |
| Casey's General Stores, Inc. | 0.6% |
| Comfort Systems USA, Inc. | 0.6% |
| Curtiss-Wright Corp. | 0.6% |
| Pure Storage, Inc., Class A | 0.6% |
| U.S. Foods Holding Corp. | 0.6% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Industrials | 22.0% |
| Financials | 17.6% |
| Consumer discretionary | 12.8% |
| Information technology | 11.3% |
| Health care | 8.3% |
| Real estate | 6.6% |
| Materials | 5.2% |
| Consumer staples | 5.2% |
| Energy | 3.6% |
| Utilities | 2.8% |
| Communication services | 1.2% |
| Short-term investments and other | 3.4% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

MIDC-SA-NAV

6/25

8/25

Mid Cap Index Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Mid Value Trust
Series I/JEMUX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Mid Value Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Mid Value Trust<br>(Series I/JEMUX) | $45 | 0.91% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$578298948 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;118 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;31% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| RenaissanceRe Holdings, Ltd. | 1.7% |
| Zimmer Biomet Holdings, Inc. | 1.7% |
| API Group Corp. | 1.7% |
| Corning, Inc. | 1.7% |
| Baxter International, Inc. | 1.6% |
| Sun Communities, Inc. | 1.5% |
| Keysight Technologies, Inc. | 1.5% |
| Kenvue, Inc. | 1.5% |
| Norfolk Southern Corp. | 1.5% |
| Expand Energy Corp. | 1.5% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Financials | 20.1% |
| Industrials | 17.2% |
| Information technology | 10.9% |
| Health care | 10.8% |
| Real estate | 7.8% |
| Energy | 7.3% |
| Utilities | 6.4% |
| Consumer discretionary | 6.3% |
| Materials | 5.5% |
| Consumer staples | 3.9% |
| Communication services | 2.0% |
| Short-term investments and other | 1.8% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

MVT-SA-I

6/25

8/25

Mid Value Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Mid Value Trust
Series II/JAGYX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Mid Value Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Mid Value Trust<br>(Series II/JAGYX) | $54 | 1.11% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$578298948 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;118 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;31% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| RenaissanceRe Holdings, Ltd. | 1.7% |
| Zimmer Biomet Holdings, Inc. | 1.7% |
| API Group Corp. | 1.7% |
| Corning, Inc. | 1.7% |
| Baxter International, Inc. | 1.6% |
| Sun Communities, Inc. | 1.5% |
| Keysight Technologies, Inc. | 1.5% |
| Kenvue, Inc. | 1.5% |
| Norfolk Southern Corp. | 1.5% |
| Expand Energy Corp. | 1.5% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Financials | 20.1% |
| Industrials | 17.2% |
| Information technology | 10.9% |
| Health care | 10.8% |
| Real estate | 7.8% |
| Energy | 7.3% |
| Utilities | 6.4% |
| Consumer discretionary | 6.3% |
| Materials | 5.5% |
| Consumer staples | 3.9% |
| Communication services | 2.0% |
| Short-term investments and other | 1.8% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

MVT-SA-II

6/25

8/25

Mid Value Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Mid Value Trust
Series NAV/JAGWX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Mid Value Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Mid Value Trust<br>(Series NAV/JAGWX) | $42 | 0.86% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$578298948 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;118 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;31% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| RenaissanceRe Holdings, Ltd. | 1.7% |
| Zimmer Biomet Holdings, Inc. | 1.7% |
| API Group Corp. | 1.7% |
| Corning, Inc. | 1.7% |
| Baxter International, Inc. | 1.6% |
| Sun Communities, Inc. | 1.5% |
| Keysight Technologies, Inc. | 1.5% |
| Kenvue, Inc. | 1.5% |
| Norfolk Southern Corp. | 1.5% |
| Expand Energy Corp. | 1.5% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Financials | 20.1% |
| Industrials | 17.2% |
| Information technology | 10.9% |
| Health care | 10.8% |
| Real estate | 7.8% |
| Energy | 7.3% |
| Utilities | 6.4% |
| Consumer discretionary | 6.3% |
| Materials | 5.5% |
| Consumer staples | 3.9% |
| Communication services | 2.0% |
| Short-term investments and other | 1.8% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

MVT-SA-NAV

6/25

8/25

Mid Value Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Real Estate Securities Trust
Series I/JADBX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Real Estate Securities Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Real Estate Securities Trust<br>(Series I/JADBX) | $40 | 0.81% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$279265952 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;35 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;49% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| Welltower, Inc. | 9.9% |
| Prologis, Inc. | 7.8% |
| Equinix, Inc. | 6.2% |
| Essex Property Trust, Inc. | 5.6% |
| Public Storage | 4.7% |
| EastGroup Properties, Inc. | 3.6% |
| SL Green Realty Corp. | 3.3% |
| AvalonBay Communities, Inc. | 3.3% |
| American Tower Corp. | 3.3% |
| EPR Properties | 3.1% |

---

**Industry Composition** 

---

| | |
|:---|:---|
| Specialized REITs | 25.1% |
| Health care REITs | 16.9% |
| Residential REITs | 16.4% |
| Retail REITs | 12.8% |
| Industrial REITs | 11.4% |
| Office REITs | 5.9% |
| Hotels, restaurants and leisure | 3.4% |
| Diversified REITs | 3.0% |
| Health care providers and services | 1.8% |
| Real estate management and development | 1.2% |
| Hotel and resort REITs | 0.5% |
| Short-term investments and other | 1.6% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

RESE-SA-I

6/25

8/25

Real Estate Securities Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Real Estate Securities Trust
Series II/JAJLX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Real Estate Securities Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Real Estate Securities Trust<br>(Series II/JAJLX) | $50 | 1.01% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$279265952 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;35 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;49% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| Welltower, Inc. | 9.9% |
| Prologis, Inc. | 7.8% |
| Equinix, Inc. | 6.2% |
| Essex Property Trust, Inc. | 5.6% |
| Public Storage | 4.7% |
| EastGroup Properties, Inc. | 3.6% |
| SL Green Realty Corp. | 3.3% |
| AvalonBay Communities, Inc. | 3.3% |
| American Tower Corp. | 3.3% |
| EPR Properties | 3.1% |

---

**Industry Composition** 

---

| | |
|:---|:---|
| Specialized REITs | 25.1% |
| Health care REITs | 16.9% |
| Residential REITs | 16.4% |
| Retail REITs | 12.8% |
| Industrial REITs | 11.4% |
| Office REITs | 5.9% |
| Hotels, restaurants and leisure | 3.4% |
| Diversified REITs | 3.0% |
| Health care providers and services | 1.8% |
| Real estate management and development | 1.2% |
| Hotel and resort REITs | 0.5% |
| Short-term investments and other | 1.6% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

RESE-SA-II

6/25

8/25

Real Estate Securities Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Real Estate Securities Trust
Series NAV/JAJMX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Real Estate Securities Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Real Estate Securities Trust<br>(Series NAV/JAJMX) | $37 | 0.76% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$279265952 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;35 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;49% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| Welltower, Inc. | 9.9% |
| Prologis, Inc. | 7.8% |
| Equinix, Inc. | 6.2% |
| Essex Property Trust, Inc. | 5.6% |
| Public Storage | 4.7% |
| EastGroup Properties, Inc. | 3.6% |
| SL Green Realty Corp. | 3.3% |
| AvalonBay Communities, Inc. | 3.3% |
| American Tower Corp. | 3.3% |
| EPR Properties | 3.1% |

---

**Industry Composition** 

---

| | |
|:---|:---|
| Specialized REITs | 25.1% |
| Health care REITs | 16.9% |
| Residential REITs | 16.4% |
| Retail REITs | 12.8% |
| Industrial REITs | 11.4% |
| Office REITs | 5.9% |
| Hotels, restaurants and leisure | 3.4% |
| Diversified REITs | 3.0% |
| Health care providers and services | 1.8% |
| Real estate management and development | 1.2% |
| Hotel and resort REITs | 0.5% |
| Short-term investments and other | 1.6% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

RESE-SA-NAV

6/25

8/25

Real Estate Securities Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Science & Technology Trust
Series I/JESTX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Science & Technology Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Science & Technology Trust<br>(Series I/JESTX) | $50 | 0.99% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$1089782016 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;86 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;116% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| NVIDIA Corp. | 10.0% |
| Meta Platforms, Inc., Class A | 10.0% |
| Microsoft Corp. | 8.8% |
| Broadcom, Inc. | 7.7% |
| Apple, Inc. | 4.3% |
| Advanced Micro Devices, Inc. | 3.6% |
| Alphabet, Inc., Class C | 3.4% |
| MicroStrategy, Inc., Class A | 3.2% |
| Oracle Corp. | 2.6% |
| Applied Materials, Inc. | 2.4% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Information technology | 78.5% |
| Communication services | 18.0% |
| Financials | 1.7% |
| Consumer discretionary | 1.4% |
| Industrials | 0.1% |
| Short-term investments and other | 0.3% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

SCIT-SA-I

6/25

8/25

Science & Technology Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Science & Technology Trust
Series II/JAFUX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Science & Technology Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Science & Technology Trust<br>(Series II/JAFUX) | $60 | 1.19% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$1089782016 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;86 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;116% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| NVIDIA Corp. | 10.0% |
| Meta Platforms, Inc., Class A | 10.0% |
| Microsoft Corp. | 8.8% |
| Broadcom, Inc. | 7.7% |
| Apple, Inc. | 4.3% |
| Advanced Micro Devices, Inc. | 3.6% |
| Alphabet, Inc., Class C | 3.4% |
| MicroStrategy, Inc., Class A | 3.2% |
| Oracle Corp. | 2.6% |
| Applied Materials, Inc. | 2.4% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Information technology | 78.5% |
| Communication services | 18.0% |
| Financials | 1.7% |
| Consumer discretionary | 1.4% |
| Industrials | 0.1% |
| Short-term investments and other | 0.3% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

SCIT-SA-II

6/25

8/25

Science & Technology Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Science & Technology Trust
Series NAV/JAFSX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Science & Technology Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Science & Technology Trust<br>(Series NAV/JAFSX) | $48 | 0.94% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$1089782016 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;86 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;116% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| NVIDIA Corp. | 10.0% |
| Meta Platforms, Inc., Class A | 10.0% |
| Microsoft Corp. | 8.8% |
| Broadcom, Inc. | 7.7% |
| Apple, Inc. | 4.3% |
| Advanced Micro Devices, Inc. | 3.6% |
| Alphabet, Inc., Class C | 3.4% |
| MicroStrategy, Inc., Class A | 3.2% |
| Oracle Corp. | 2.6% |
| Applied Materials, Inc. | 2.4% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Information technology | 78.5% |
| Communication services | 18.0% |
| Financials | 1.7% |
| Consumer discretionary | 1.4% |
| Industrials | 0.1% |
| Short-term investments and other | 0.3% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

SCIT-SA-NAV

6/25

8/25

Science & Technology Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Small Cap Core Trust
Series I/JESVX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Small Cap Core Trust, formerly Small Cap Value Trust, (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Small Cap Core Trust<br>(Series I/JESVX) | $49 | 1.02% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$288947229 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;72 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;110% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| Cullen/Frost Bankers, Inc. | 2.4% |
| Arcosa, Inc. | 2.3% |
| Pinnacle Financial Partners, Inc. | 2.3% |
| SouthState Corp. | 2.3% |
| EastGroup Properties, Inc. | 2.1% |
| First Industrial Realty Trust, Inc. | 2.1% |
| Banner Corp. | 2.0% |
| Crane Company | 1.9% |
| Atmus Filtration Technologies, Inc. | 1.9% |
| Lithia Motors, Inc. | 1.8% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Information technology | 23.2% |
| Industrials | 20.0% |
| Financials | 13.4% |
| Health care | 13.3% |
| Consumer discretionary | 11.5% |
| Real estate | 4.2% |
| Energy | 3.9% |
| Consumer staples | 2.8% |
| Communication services | 2.4% |
| Materials | 1.4% |
| Utilities | 1.3% |
| Short-term investments and other | 2.6% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

SMVT-SA-I

6/25

8/25

Small Cap Core Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Small Cap Core Trust
Series II/JAGZX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Small Cap Core Trust, formerly Small Cap Value Trust, (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Small Cap Core Trust<br>(Series II/JAGZX) | $59 | 1.22% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$288947229 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;72 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;110% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| Cullen/Frost Bankers, Inc. | 2.4% |
| Arcosa, Inc. | 2.3% |
| Pinnacle Financial Partners, Inc. | 2.3% |
| SouthState Corp. | 2.3% |
| EastGroup Properties, Inc. | 2.1% |
| First Industrial Realty Trust, Inc. | 2.1% |
| Banner Corp. | 2.0% |
| Crane Company | 1.9% |
| Atmus Filtration Technologies, Inc. | 1.9% |
| Lithia Motors, Inc. | 1.8% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Information technology | 23.2% |
| Industrials | 20.0% |
| Financials | 13.4% |
| Health care | 13.3% |
| Consumer discretionary | 11.5% |
| Real estate | 4.2% |
| Energy | 3.9% |
| Consumer staples | 2.8% |
| Communication services | 2.4% |
| Materials | 1.4% |
| Utilities | 1.3% |
| Short-term investments and other | 2.6% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

SMVT-SA-II

6/25

8/25

Small Cap Core Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Small Cap Core Trust
Series NAV/JAHBX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Small Cap Core Trust, formerly Small Cap Value Trust, (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Small Cap Core Trust<br>(Series NAV/JAHBX) | $47 | 0.97% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$288947229 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;72 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;110% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| Cullen/Frost Bankers, Inc. | 2.4% |
| Arcosa, Inc. | 2.3% |
| Pinnacle Financial Partners, Inc. | 2.3% |
| SouthState Corp. | 2.3% |
| EastGroup Properties, Inc. | 2.1% |
| First Industrial Realty Trust, Inc. | 2.1% |
| Banner Corp. | 2.0% |
| Crane Company | 1.9% |
| Atmus Filtration Technologies, Inc. | 1.9% |
| Lithia Motors, Inc. | 1.8% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Information technology | 23.2% |
| Industrials | 20.0% |
| Financials | 13.4% |
| Health care | 13.3% |
| Consumer discretionary | 11.5% |
| Real estate | 4.2% |
| Energy | 3.9% |
| Consumer staples | 2.8% |
| Communication services | 2.4% |
| Materials | 1.4% |
| Utilities | 1.3% |
| Short-term investments and other | 2.6% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

SMVT-SA-NAV

6/25

8/25

Small Cap Core Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Small Cap Index Trust
Series I/JESIX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Small Cap Index Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Small Cap Index Trust<br>(Series I/JESIX) | $26 | 0.53% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$505020518 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1826 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;8% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| Credo Technology Group Holding, Ltd. | 0.5% |
| Fabrinet | 0.4% |
| IonQ, Inc. | 0.4% |
| Hims & Hers Health, Inc. | 0.4% |
| HealthEquity, Inc. | 0.3% |
| The Ensign Group, Inc. | 0.3% |
| Fluor Corp. | 0.3% |
| Blueprint Medicines Corp. | 0.3% |
| AeroVironment, Inc. | 0.3% |
| Brinker International, Inc. | 0.3% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Financials | 18.6% |
| Industrials | 16.4% |
| Health care | 15.4% |
| Information technology | 14.1% |
| Consumer discretionary | 9.7% |
| Real estate | 5.9% |
| Energy | 4.7% |
| Materials | 3.6% |
| Utilities | 3.1% |
| Communication services | 2.5% |
| Consumer staples | 2.2% |
| Short-term investments and other | 3.8% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

SMCI-SA-I

6/25

8/25

Small Cap Index Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Small Cap Index Trust
Series II/JAJOX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Small Cap Index Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Small Cap Index Trust<br>(Series II/JAJOX) | $36 | 0.73% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$505020518 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1826 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;8% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| Credo Technology Group Holding, Ltd. | 0.5% |
| Fabrinet | 0.4% |
| IonQ, Inc. | 0.4% |
| Hims & Hers Health, Inc. | 0.4% |
| HealthEquity, Inc. | 0.3% |
| The Ensign Group, Inc. | 0.3% |
| Fluor Corp. | 0.3% |
| Blueprint Medicines Corp. | 0.3% |
| AeroVironment, Inc. | 0.3% |
| Brinker International, Inc. | 0.3% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Financials | 18.6% |
| Industrials | 16.4% |
| Health care | 15.4% |
| Information technology | 14.1% |
| Consumer discretionary | 9.7% |
| Real estate | 5.9% |
| Energy | 4.7% |
| Materials | 3.6% |
| Utilities | 3.1% |
| Communication services | 2.5% |
| Consumer staples | 2.2% |
| Short-term investments and other | 3.8% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

SMCI-SA-II

6/25

8/25

Small Cap Index Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Small Cap Index Trust
Series NAV/JAEWX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Small Cap Index Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Small Cap Index Trust<br>(Series NAV/JAEWX) | $24 | 0.48% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$505020518 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1826 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;8% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| Credo Technology Group Holding, Ltd. | 0.5% |
| Fabrinet | 0.4% |
| IonQ, Inc. | 0.4% |
| Hims & Hers Health, Inc. | 0.4% |
| HealthEquity, Inc. | 0.3% |
| The Ensign Group, Inc. | 0.3% |
| Fluor Corp. | 0.3% |
| Blueprint Medicines Corp. | 0.3% |
| AeroVironment, Inc. | 0.3% |
| Brinker International, Inc. | 0.3% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Financials | 18.6% |
| Industrials | 16.4% |
| Health care | 15.4% |
| Information technology | 14.1% |
| Consumer discretionary | 9.7% |
| Real estate | 5.9% |
| Energy | 4.7% |
| Materials | 3.6% |
| Utilities | 3.1% |
| Communication services | 2.5% |
| Consumer staples | 2.2% |
| Short-term investments and other | 3.8% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

SMCI-SA-NAV

6/25

8/25

Small Cap Index Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Small Cap Opportunities Trust
Series I/JADLX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Small Cap Opportunities Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Small Cap Opportunities Trust<br>(Series I/JADLX) | $45 | 0.92% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$163724007 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1151 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;42% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| Liberty Broadband Corp., Series C | 0.6% |
| TD SYNNEX Corp. | 0.6% |
| Toll Brothers, Inc. | 0.6% |
| Zions Bancorp NA | 0.6% |
| Bunge Global SA | 0.6% |
| Molson Coors Beverage Company, Class B | 0.6% |
| First Horizon Corp. | 0.6% |
| The Mosaic Company | 0.6% |
| Ally Financial, Inc. | 0.6% |
| Permian Resources Corp. | 0.5% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Financials | 28.2% |
| Industrials | 16.0% |
| Consumer discretionary | 14.9% |
| Energy | 9.3% |
| Information technology | 7.3% |
| Health care | 7.2% |
| Materials | 6.2% |
| Consumer staples | 5.7% |
| Communication services | 3.9% |
| Real estate | 0.9% |
| Utilities | 0.3% |
| Short-term investments and other | 0.1% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

SMCO-SA-I

6/25

8/25

Small Cap Opportunities Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Small Cap Opportunities Trust
Series II/JADPX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Small Cap Opportunities Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Small Cap Opportunities Trust<br>(Series II/JADPX) | $55 | 1.12% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$163724007 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1151 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;42% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| Liberty Broadband Corp., Series C | 0.6% |
| TD SYNNEX Corp. | 0.6% |
| Toll Brothers, Inc. | 0.6% |
| Zions Bancorp NA | 0.6% |
| Bunge Global SA | 0.6% |
| Molson Coors Beverage Company, Class B | 0.6% |
| First Horizon Corp. | 0.6% |
| The Mosaic Company | 0.6% |
| Ally Financial, Inc. | 0.6% |
| Permian Resources Corp. | 0.5% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Financials | 28.2% |
| Industrials | 16.0% |
| Consumer discretionary | 14.9% |
| Energy | 9.3% |
| Information technology | 7.3% |
| Health care | 7.2% |
| Materials | 6.2% |
| Consumer staples | 5.7% |
| Communication services | 3.9% |
| Real estate | 0.9% |
| Utilities | 0.3% |
| Short-term investments and other | 0.1% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

SMCO-SA-II

6/25

8/25

Small Cap Opportunities Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Small Cap Opportunities Trust
Series NAV/JADMX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Small Cap Opportunities Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Small Cap Opportunities Trust<br>(Series NAV/JADMX) | $43 | 0.87% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$163724007 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1151 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;42% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| Liberty Broadband Corp., Series C | 0.6% |
| TD SYNNEX Corp. | 0.6% |
| Toll Brothers, Inc. | 0.6% |
| Zions Bancorp NA | 0.6% |
| Bunge Global SA | 0.6% |
| Molson Coors Beverage Company, Class B | 0.6% |
| First Horizon Corp. | 0.6% |
| The Mosaic Company | 0.6% |
| Ally Financial, Inc. | 0.6% |
| Permian Resources Corp. | 0.5% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Financials | 28.2% |
| Industrials | 16.0% |
| Consumer discretionary | 14.9% |
| Energy | 9.3% |
| Information technology | 7.3% |
| Health care | 7.2% |
| Materials | 6.2% |
| Consumer staples | 5.7% |
| Communication services | 3.9% |
| Real estate | 0.9% |
| Utilities | 0.3% |
| Short-term investments and other | 0.1% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

SMCO-SA-NAV

6/25

8/25

Small Cap Opportunities Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Small Cap Stock Trust
Series I/JESGX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Small Cap Stock Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Small Cap Stock Trust<br>(Series I/JESGX) | $55 | 1.12% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$274159775 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;102 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;35% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| The AZEK Company, Inc. | 2.8% |
| Verra Mobility Corp. | 2.7% |
| CyberArk Software, Ltd. | 2.6% |
| ExlService Holdings, Inc. | 2.5% |
| AvePoint, Inc. | 2.3% |
| SiTime Corp. | 2.2% |
| PJT Partners, Inc., Class A | 2.0% |
| Casella Waste Systems, Inc., Class A | 2.0% |
| Cabot Corp. | 1.9% |
| Zurn Elkay Water Solutions Corp. | 1.9% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Industrials | 26.2% |
| Health care | 24.6% |
| Information technology | 16.8% |
| Consumer discretionary | 12.0% |
| Financials | 8.5% |
| Real estate | 3.3% |
| Communication services | 2.3% |
| Materials | 1.9% |
| Energy | 1.8% |
| Consumer staples | 1.7% |
| Short-term investments and other | 0.9% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

SMCS-SA-I

6/25

8/25

Small Cap Stock Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Small Cap Stock Trust
Series II/JAGQX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Small Cap Stock Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Small Cap Stock Trust<br>(Series II/JAGQX) | $65 | 1.32% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$274159775 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;102 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;35% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| The AZEK Company, Inc. | 2.8% |
| Verra Mobility Corp. | 2.7% |
| CyberArk Software, Ltd. | 2.6% |
| ExlService Holdings, Inc. | 2.5% |
| AvePoint, Inc. | 2.3% |
| SiTime Corp. | 2.2% |
| PJT Partners, Inc., Class A | 2.0% |
| Casella Waste Systems, Inc., Class A | 2.0% |
| Cabot Corp. | 1.9% |
| Zurn Elkay Water Solutions Corp. | 1.9% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Industrials | 26.2% |
| Health care | 24.6% |
| Information technology | 16.8% |
| Consumer discretionary | 12.0% |
| Financials | 8.5% |
| Real estate | 3.3% |
| Communication services | 2.3% |
| Materials | 1.9% |
| Energy | 1.8% |
| Consumer staples | 1.7% |
| Short-term investments and other | 0.9% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

SMCS-SA-II

6/25

8/25

Small Cap Stock Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Small Cap Stock Trust
Series NAV/JAGPX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Small Cap Stock Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Small Cap Stock Trust<br>(Series NAV/JAGPX) | $53 | 1.07% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$274159775 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;102 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;35% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| The AZEK Company, Inc. | 2.8% |
| Verra Mobility Corp. | 2.7% |
| CyberArk Software, Ltd. | 2.6% |
| ExlService Holdings, Inc. | 2.5% |
| AvePoint, Inc. | 2.3% |
| SiTime Corp. | 2.2% |
| PJT Partners, Inc., Class A | 2.0% |
| Casella Waste Systems, Inc., Class A | 2.0% |
| Cabot Corp. | 1.9% |
| Zurn Elkay Water Solutions Corp. | 1.9% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Industrials | 26.2% |
| Health care | 24.6% |
| Information technology | 16.8% |
| Consumer discretionary | 12.0% |
| Financials | 8.5% |
| Real estate | 3.3% |
| Communication services | 2.3% |
| Materials | 1.9% |
| Energy | 1.8% |
| Consumer staples | 1.7% |
| Short-term investments and other | 0.9% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

SMCS-SA-NAV

6/25

8/25

Small Cap Stock Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Small Company Value Trust
Series I/JAEPX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Small Company Value Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Small Company Value Trust<br>(Series I/JAEPX) | $55 | 1.13% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$120846854 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;198 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;21% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| Pinnacle Financial Partners, Inc. | 1.9% |
| PennyMac Financial Services, Inc. | 1.5% |
| Columbia Banking System, Inc. | 1.5% |
| Houlihan Lokey, Inc. | 1.4% |
| SouthState Corp. | 1.2% |
| Western Alliance Bancorp | 1.2% |
| Mirion Technologies, Inc. | 1.1% |
| FB Financial Corp. | 1.0% |
| Carvana Company | 1.0% |
| Matador Resources Company | 1.0% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Financials | 28.4% |
| Industrials | 13.2% |
| Real estate | 10.8% |
| Consumer discretionary | 9.6% |
| Health care | 8.4% |
| Information technology | 7.2% |
| Energy | 6.8% |
| Utilities | 5.8% |
| Materials | 4.5% |
| Communication services | 2.0% |
| Consumer staples | 1.8% |
| Short-term investments and other | 1.5% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

SMCO-SA-I

6/25

8/25

Small Company Value Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Small Company Value Trust
Series II/JAERX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Small Company Value Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Small Company Value Trust<br>(Series II/JAERX) | $65 | 1.33% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$120846854 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;198 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;21% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| Pinnacle Financial Partners, Inc. | 1.9% |
| PennyMac Financial Services, Inc. | 1.5% |
| Columbia Banking System, Inc. | 1.5% |
| Houlihan Lokey, Inc. | 1.4% |
| SouthState Corp. | 1.2% |
| Western Alliance Bancorp | 1.2% |
| Mirion Technologies, Inc. | 1.1% |
| FB Financial Corp. | 1.0% |
| Carvana Company | 1.0% |
| Matador Resources Company | 1.0% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Financials | 28.4% |
| Industrials | 13.2% |
| Real estate | 10.8% |
| Consumer discretionary | 9.6% |
| Health care | 8.4% |
| Information technology | 7.2% |
| Energy | 6.8% |
| Utilities | 5.8% |
| Materials | 4.5% |
| Communication services | 2.0% |
| Consumer staples | 1.8% |
| Short-term investments and other | 1.5% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

SMCO-SA-II

6/25

8/25

Small Company Value Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Small Company Value Trust
Series NAV/JAEQX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Small Company Value Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Small Company Value Trust<br>(Series NAV/JAEQX) | $53 | 1.08% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$120846854 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;198 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;21% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| Pinnacle Financial Partners, Inc. | 1.9% |
| PennyMac Financial Services, Inc. | 1.5% |
| Columbia Banking System, Inc. | 1.5% |
| Houlihan Lokey, Inc. | 1.4% |
| SouthState Corp. | 1.2% |
| Western Alliance Bancorp | 1.2% |
| Mirion Technologies, Inc. | 1.1% |
| FB Financial Corp. | 1.0% |
| Carvana Company | 1.0% |
| Matador Resources Company | 1.0% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Financials | 28.4% |
| Industrials | 13.2% |
| Real estate | 10.8% |
| Consumer discretionary | 9.6% |
| Health care | 8.4% |
| Information technology | 7.2% |
| Energy | 6.8% |
| Utilities | 5.8% |
| Materials | 4.5% |
| Communication services | 2.0% |
| Consumer staples | 1.8% |
| Short-term investments and other | 1.5% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

SMCO-SA-NAV

6/25

8/25

Small Company Value Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Strategic Equity Allocation Trust
Series NAV/JAFVX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Strategic Equity Allocation Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Strategic Equity Allocation Trust<br>(Series NAV/JAFVX) | $28 | 0.54% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$6991406203 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;3345 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;2% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| NVIDIA Corp. | 3.9% |
| Microsoft Corp. | 3.8% |
| Apple, Inc. | 3.1% |
| Amazon.com, Inc. | 2.1% |
| Meta Platforms, Inc., Class A | 1.6% |
| Broadcom, Inc. | 1.3% |
| Alphabet, Inc., Class A | 1.1% |
| Berkshire Hathaway, Inc., Class B | 0.9% |
| Tesla, Inc. | 0.9% |
| Alphabet, Inc., Class C | 0.9% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Information technology | 21.8% |
| Financials | 17.2% |
| Industrials | 13.0% |
| Consumer discretionary | 10.0% |
| Health care | 9.9% |
| Communication services | 7.1% |
| Consumer staples | 5.9% |
| Materials | 3.3% |
| Energy | 3.1% |
| Utilities | 2.7% |
| Real estate | 2.5% |
| Short-term investments and other | 3.5% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

SEAT-SA-NAV

6/25

8/25

Strategic Equity Allocation Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Total Stock Market Index Trust
Series I/JETSX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Total Stock Market Index Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Total Stock Market Index Trust<br>(Series I/JETSX) | $25 | 0.49% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$1072039530 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;2565 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;4% |

---

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

**Top Ten Holdings**

---

| | |
|:---|:---|
| NVIDIA Corp. | 5.9% |
| Microsoft Corp. | 5.7% |
| Apple, Inc. | 4.8% |
| Amazon.com, Inc. | 3.6% |
| Meta Platforms, Inc., Class A | 2.5% |
| Broadcom, Inc. | 2.0% |
| Alphabet, Inc., Class A | 1.6% |
| Tesla, Inc. | 1.6% |
| Alphabet, Inc., Class C | 1.5% |
| JPMorgan Chase & Co. | 1.3% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Information technology | 29.5% |
| Financials | 14.1% |
| Consumer discretionary | 10.4% |
| Industrials | 9.4% |
| Health care | 9.3% |
| Communication services | 9.1% |
| Consumer staples | 5.6% |
| Energy | 2.9% |
| Real estate | 2.3% |
| Materials | 2.2% |
| Utilities | 2.2% |
| Short-term investments and other | 3.0% |

---

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

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

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

TOST-SA-I

6/25

8/25

Total Stock Market Index Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Total Stock Market Index Trust
Series II/JAFFX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Total Stock Market Index Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Total Stock Market Index Trust<br>(Series II/JAFFX) | $35 | 0.69% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$1072039530 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;2565 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;4% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Top Ten Holdings**

---

| | |
|:---|:---|
| NVIDIA Corp. | 5.9% |
| Microsoft Corp. | 5.7% |
| Apple, Inc. | 4.8% |
| Amazon.com, Inc. | 3.6% |
| Meta Platforms, Inc., Class A | 2.5% |
| Broadcom, Inc. | 2.0% |
| Alphabet, Inc., Class A | 1.6% |
| Tesla, Inc. | 1.6% |
| Alphabet, Inc., Class C | 1.5% |
| JPMorgan Chase & Co. | 1.3% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Information technology | 29.5% |
| Financials | 14.1% |
| Consumer discretionary | 10.4% |
| Industrials | 9.4% |
| Health care | 9.3% |
| Communication services | 9.1% |
| Consumer staples | 5.6% |
| Energy | 2.9% |
| Real estate | 2.3% |
| Materials | 2.2% |
| Utilities | 2.2% |
| Short-term investments and other | 3.0% |

---

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

TOST-SA-II

6/25

8/25

Total Stock Market Index Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Total Stock Market Index Trust
Series NAV/JAFEX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Total Stock Market Index Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Total Stock Market Index Trust<br>(Series NAV/JAFEX) | $22 | 0.44% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$1072039530 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;2565 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;4% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Top Ten Holdings**

---

| | |
|:---|:---|
| NVIDIA Corp. | 5.9% |
| Microsoft Corp. | 5.7% |
| Apple, Inc. | 4.8% |
| Amazon.com, Inc. | 3.6% |
| Meta Platforms, Inc., Class A | 2.5% |
| Broadcom, Inc. | 2.0% |
| Alphabet, Inc., Class A | 1.6% |
| Tesla, Inc. | 1.6% |
| Alphabet, Inc., Class C | 1.5% |
| JPMorgan Chase & Co. | 1.3% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Information technology | 29.5% |
| Financials | 14.1% |
| Consumer discretionary | 10.4% |
| Industrials | 9.4% |
| Health care | 9.3% |
| Communication services | 9.1% |
| Consumer staples | 5.6% |
| Energy | 2.9% |
| Real estate | 2.3% |
| Materials | 2.2% |
| Utilities | 2.2% |
| Short-term investments and other | 3.0% |

---

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

TOST-SA-NAV

6/25

8/25

Total Stock Market Index Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust U.S. Growth Trust
Series I/JAFHX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the U.S. Growth Trust, formerly Capital Appreciation Trust, (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| U.S. Growth Trust<br>(Series I/JAFHX) | $41 | 0.79% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$708013283 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;43 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;64% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Top Ten Holdings**

---

| | |
|:---|:---|
| NVIDIA Corp. | 11.9% |
| Microsoft Corp. | 6.8% |
| Amazon.com, Inc. | 6.6% |
| Broadcom, Inc. | 5.1% |
| Meta Platforms, Inc., Class A | 5.0% |
| Apple, Inc. | 4.8% |
| Alphabet, Inc., Class A | 4.6% |
| Mastercard, Inc., Class A | 3.9% |
| Eli Lilly & Company | 3.4% |
| Netflix, Inc. | 3.3% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Information technology | 38.0% |
| Communication services | 15.4% |
| Consumer discretionary | 13.6% |
| Financials | 12.3% |
| Health care | 6.5% |
| Industrials | 5.3% |
| Consumer staples | 3.7% |
| Real estate | 2.7% |
| Energy | 1.9% |
| Short-term investments and other | 0.6% |

---

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

CAPA-SA-I

6/25

8/25

U.S. Growth Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust U.S. Growth Trust
Series II/JAFJX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the U.S. Growth Trust, formerly Capital Appreciation Trust, (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| U.S. Growth Trust<br>(Series II/JAFJX) | $51 | 0.99% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$708013283 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;43 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;64% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Top Ten Holdings**

---

| | |
|:---|:---|
| NVIDIA Corp. | 11.9% |
| Microsoft Corp. | 6.8% |
| Amazon.com, Inc. | 6.6% |
| Broadcom, Inc. | 5.1% |
| Meta Platforms, Inc., Class A | 5.0% |
| Apple, Inc. | 4.8% |
| Alphabet, Inc., Class A | 4.6% |
| Mastercard, Inc., Class A | 3.9% |
| Eli Lilly & Company | 3.4% |
| Netflix, Inc. | 3.3% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Information technology | 38.0% |
| Communication services | 15.4% |
| Consumer discretionary | 13.6% |
| Financials | 12.3% |
| Health care | 6.5% |
| Industrials | 5.3% |
| Consumer staples | 3.7% |
| Real estate | 2.7% |
| Energy | 1.9% |
| Short-term investments and other | 0.6% |

---

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

CAPA-SA-II

6/25

8/25

U.S. Growth Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust U.S. Growth Trust
Series NAV/JAFGX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the U.S. Growth Trust, formerly Capital Appreciation Trust, (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| U.S. Growth Trust<br>(Series NAV/JAFGX) | $38 | 0.74% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$708013283 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;43 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;64% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Top Ten Holdings**

---

| | |
|:---|:---|
| NVIDIA Corp. | 11.9% |
| Microsoft Corp. | 6.8% |
| Amazon.com, Inc. | 6.6% |
| Broadcom, Inc. | 5.1% |
| Meta Platforms, Inc., Class A | 5.0% |
| Apple, Inc. | 4.8% |
| Alphabet, Inc., Class A | 4.6% |
| Mastercard, Inc., Class A | 3.9% |
| Eli Lilly & Company | 3.4% |
| Netflix, Inc. | 3.3% |

---

**Sector Composition**

---

| | |
|:---|:---|
| Information technology | 38.0% |
| Communication services | 15.4% |
| Consumer discretionary | 13.6% |
| Financials | 12.3% |
| Health care | 6.5% |
| Industrials | 5.3% |
| Consumer staples | 3.7% |
| Real estate | 2.7% |
| Energy | 1.9% |
| Short-term investments and other | 0.6% |

---

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

CAPA-SA-NAV

6/25

8/25

U.S. Growth Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Active Bond Trust
Series I/JAHFX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Active Bond Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Active Bond Trust<br>(Series I/JAHFX) | $35 | 0.70% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$556802242 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;998 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;42% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| U.S. Government Agency | 35.7% |
| Corporate bonds | 35.6% |
| U.S. Government | 17.7% |
| Asset-backed securities | 4.8% |
| Collateralized mortgage obligations – Commercial and residential | 2.6% |
| Collateralized mortgage obligations – U.S. Government Agency | 1.0% |
| Term loans | 0.3% |
| Short-term investments and other | 2.3% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_5971937.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 6-30-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

ACTB-SA-I

6/25

8/25

Active Bond Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Active Bond Trust
Series II/JAHEX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Active Bond Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Active Bond Trust<br>(Series II/JAHEX) | $46 | 0.90% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$556802242 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;998 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;42% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| U.S. Government Agency | 35.7% |
| Corporate bonds | 35.6% |
| U.S. Government | 17.7% |
| Asset-backed securities | 4.8% |
| Collateralized mortgage obligations – Commercial and residential | 2.6% |
| Collateralized mortgage obligations – U.S. Government Agency | 1.0% |
| Term loans | 0.3% |
| Short-term investments and other | 2.3% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_5971910.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 6-30-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

ACTB-SA-II

6/25

8/25

Active Bond Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Active Bond Trust
Series NAV/JAHDX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Active Bond Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Active Bond Trust<br>(Series NAV/JAHDX) | $33 | 0.65% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$556802242 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;998 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;42% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| U.S. Government Agency | 35.7% |
| Corporate bonds | 35.6% |
| U.S. Government | 17.7% |
| Asset-backed securities | 4.8% |
| Collateralized mortgage obligations – Commercial and residential | 2.6% |
| Collateralized mortgage obligations – U.S. Government Agency | 1.0% |
| Term loans | 0.3% |
| Short-term investments and other | 2.3% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_5971897.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 6-30-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

ACTB-SA-NAV

6/25

8/25

Active Bond Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Core Bond Trust
Series I/JADKX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Core Bond Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Core Bond Trust<br>(Series I/JADKX) | $34 | 0.67% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$776661722 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1042 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;124% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| U.S. Government Agency | 31.4% |
| Corporate bonds | 25.5% |
| U.S. Government | 15.1% |
| Collateralized mortgage obligations – U.S. Government Agency | 14.3% |
| Asset-backed securities | 9.7% |
| Collateralized mortgage obligations – Commercial and residential | 1.7% |
| Foreign government obligations | 1.1% |
| Municipal bonds | 0.1% |
| Short-term investments and other | 1.1% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_5972460.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 6-30-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

CRBT-SA-I

6/25

8/25

Core Bond Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Core Bond Trust
Series II/JAAEX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Core Bond Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Core Bond Trust<br>(Series II/JAAEX) | $44 | 0.87% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$776661722 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1042 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;124% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| U.S. Government Agency | 31.4% |
| Corporate bonds | 25.5% |
| U.S. Government | 15.1% |
| Collateralized mortgage obligations – U.S. Government Agency | 14.3% |
| Asset-backed securities | 9.7% |
| Collateralized mortgage obligations – Commercial and residential | 1.7% |
| Foreign government obligations | 1.1% |
| Municipal bonds | 0.1% |
| Short-term investments and other | 1.1% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_5972433.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 6-30-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

CRBT-SA-II

6/25

8/25

Core Bond Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Core Bond Trust
Series NAV/JVCNX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Core Bond Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Core Bond Trust<br>(Series NAV/JVCNX) | $31 | 0.62% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$776661722 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1042 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;124% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| U.S. Government Agency | 31.4% |
| Corporate bonds | 25.5% |
| U.S. Government | 15.1% |
| Collateralized mortgage obligations – U.S. Government Agency | 14.3% |
| Asset-backed securities | 9.7% |
| Collateralized mortgage obligations – Commercial and residential | 1.7% |
| Foreign government obligations | 1.1% |
| Municipal bonds | 0.1% |
| Short-term investments and other | 1.1% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_5972408.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 6-30-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

CRBT-SA-NAV

6/25

8/25

Core Bond Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust High Yield Trust
Series I/JAELX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the High Yield Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| High Yield Trust<br>(Series I/JAELX) | $37 | 0.73% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$179703732 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;342 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;115% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| Corporate bonds | 91.2% |
| Term loans | 5.6% |
| Preferred securities | 0.5% |
| Short-term investments and other | 2.7% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_5972697.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 6-30-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

HIYI-SA-I

6/25

8/25

High Yield Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust High Yield Trust
Series II/JAEOX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the High Yield Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| High Yield Trust<br>(Series II/JAEOX) | $47 | 0.93% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$179703732 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;342 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;115% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| Corporate bonds | 91.2% |
| Term loans | 5.6% |
| Preferred securities | 0.5% |
| Short-term investments and other | 2.7% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_5972672.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 6-30-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

HIYI-SA-II

6/25

8/25

High Yield Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust High Yield Trust
Series NAV/JAEMX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the High Yield Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| High Yield Trust<br>(Series NAV/JAEMX) | $34 | 0.68% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$179703732 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;342 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;115% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| Corporate bonds | 91.2% |
| Term loans | 5.6% |
| Preferred securities | 0.5% |
| Short-term investments and other | 2.7% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_5972657.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 6-30-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

HIYI-SA-NAV

6/25

8/25

High Yield Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Investment Quality Bond Trust
Series I/JADUX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Investment Quality Bond Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Investment Quality Bond Trust<br>(Series I/JADUX) | $38 | 0.75% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$207117550 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;797 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;18% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total investments of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| U.S. Government | 29.3% |
| U.S. Government Agency | 27.7% |
| Corporate bonds | 19.8% |
| Collateralized mortgage obligations – Commercial and residential | 7.7% |
| Asset-backed securities | 6.7% |
| Collateralized mortgage obligations – U.S. Government Agency | 2.9% |
| Foreign government obligations | 2.1% |
| Municipal bonds | 1.2% |
| Short-term investments | 2.6% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_5972367.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 6-30-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

INQB-SA-I

6/25

8/25

Investment Quality Bond Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Investment Quality Bond Trust
Series II/JADSX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Investment Quality Bond Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Investment Quality Bond Trust<br>(Series II/JADSX) | $48 | 0.95% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$207117550 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;797 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;18% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total investments of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| U.S. Government | 29.3% |
| U.S. Government Agency | 27.7% |
| Corporate bonds | 19.8% |
| Collateralized mortgage obligations – Commercial and residential | 7.7% |
| Asset-backed securities | 6.7% |
| Collateralized mortgage obligations – U.S. Government Agency | 2.9% |
| Foreign government obligations | 2.1% |
| Municipal bonds | 1.2% |
| Short-term investments | 2.6% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_5972352.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 6-30-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

INQB-SA-II

6/25

8/25

Investment Quality Bond Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Investment Quality Bond Trust
Series NAV/JAJNX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Investment Quality Bond Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Investment Quality Bond Trust<br>(Series NAV/JAJNX) | $35 | 0.70% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$207117550 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;797 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;18% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total investments of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| U.S. Government | 29.3% |
| U.S. Government Agency | 27.7% |
| Corporate bonds | 19.8% |
| Collateralized mortgage obligations – Commercial and residential | 7.7% |
| Asset-backed securities | 6.7% |
| Collateralized mortgage obligations – U.S. Government Agency | 2.9% |
| Foreign government obligations | 2.1% |
| Municipal bonds | 1.2% |
| Short-term investments | 2.6% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_5972327.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 6-30-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

INQB-SA-NAV

6/25

8/25

Investment Quality Bond Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Money Market Trust
Series I/JHOXX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Money Market Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Money Market Trust<br>(Series I/JHOXX) | $17 | 0.33% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$2410321230 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;116 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Weighted Average Maturity** | &nbsp;&nbsp;&nbsp;&nbsp;48 Days |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total investments of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| U.S. Government Agency | 53.7% |
| U.S. Government | 29.1% |
| Repurchase agreement | 17.2% |

---

**Maturity Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_5972617.jpg)

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

MMT-SA-I

6/25

8/25

Money Market Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Money Market Trust
Series II/JAAXX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Money Market Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Money Market Trust<br>(Series II/JAAXX) | $27 | 0.53% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$2410321230 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;116 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Weighted Average Maturity** | &nbsp;&nbsp;&nbsp;&nbsp;48 Days |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total investments of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| U.S. Government Agency | 53.7% |
| U.S. Government | 29.1% |
| Repurchase agreement | 17.2% |

---

**Maturity Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_5972592.jpg)

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

MMT-SA-II

6/25

8/25

Money Market Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Money Market Trust
Series NAV/JABXX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Money Market Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Money Market Trust<br>(Series NAV/JABXX) | $14 | 0.28% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$2410321230 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;116 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Weighted Average Maturity** | &nbsp;&nbsp;&nbsp;&nbsp;48 Days |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total investments of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| U.S. Government Agency | 53.7% |
| U.S. Government | 29.1% |
| Repurchase agreement | 17.2% |

---

**Maturity Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_5972565.jpg)

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

MMT-SA-NAV

6/25

8/25

Money Market Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Opportunistic Fixed Income Trust
Series I/JAEJX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Opportunistic Fixed Income Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Opportunistic Fixed Income Trust<br>(Series I/JAEJX) | $42 | 0.82% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$141428303 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1017 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;71% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total investments of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| Foreign government obligations | 32.2% |
| U.S. Government Agency | 24.7% |
| Corporate bonds | 9.0% |
| Convertible bonds | 5.9% |
| U.S. Government | 5.4% |
| Collateralized mortgage obligations – U.S. Government Agency | 2.6% |
| Asset-backed securities | 2.0% |
| Term loans | 1.6% |
| Collateralized mortgage obligations – Commercial and residential | 1.4% |
| Exchange-traded funds | 1.3% |
| Preferred securities | 0.9% |
| Short-term investments | 13.0% |

---

**Country Composition**

---

| | |
|:---|:---|
| United States | 59.9% |
| Norway | 7.0% |
| Brazil | 5.3% |
| New Zealand | 4.2% |
| Australia | 3.4% |
| Colombia | 2.8% |
| United Kingdom | 2.0% |
| Iceland | 1.5% |
| Mexico | 1.1% |
| Other countries | 12.8% |

---

**Quality Composition**

![Graphical Representation - Allocation 2 Chart](chartimages_5972293.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 6-30-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

OPFI-SA-I

6/25

8/25

Opportunistic Fixed Income Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Opportunistic Fixed Income Trust
Series II/JAEHX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Opportunistic Fixed Income Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Opportunistic Fixed Income Trust<br>(Series II/JAEHX) | $52 | 1.02% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$141428303 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1017 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;71% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total investments of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| Foreign government obligations | 32.2% |
| U.S. Government Agency | 24.7% |
| Corporate bonds | 9.0% |
| Convertible bonds | 5.9% |
| U.S. Government | 5.4% |
| Collateralized mortgage obligations – U.S. Government Agency | 2.6% |
| Asset-backed securities | 2.0% |
| Term loans | 1.6% |
| Collateralized mortgage obligations – Commercial and residential | 1.4% |
| Exchange-traded funds | 1.3% |
| Preferred securities | 0.9% |
| Short-term investments | 13.0% |

---

**Country Composition**

---

| | |
|:---|:---|
| United States | 59.9% |
| Norway | 7.0% |
| Brazil | 5.3% |
| New Zealand | 4.2% |
| Australia | 3.4% |
| Colombia | 2.8% |
| United Kingdom | 2.0% |
| Iceland | 1.5% |
| Mexico | 1.1% |
| Other countries | 12.8% |

---

**Quality Composition**

![Graphical Representation - Allocation 2 Chart](chartimages_5972261.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 6-30-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

OPFI-SA-II

6/25

8/25

Opportunistic Fixed Income Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Opportunistic Fixed Income Trust
Series NAV/JAEKX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Opportunistic Fixed Income Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Opportunistic Fixed Income Trust<br>(Series NAV/JAEKX) | $39 | 0.77% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$141428303 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1017 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;71% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total investments of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| Foreign government obligations | 32.2% |
| U.S. Government Agency | 24.7% |
| Corporate bonds | 9.0% |
| Convertible bonds | 5.9% |
| U.S. Government | 5.4% |
| Collateralized mortgage obligations – U.S. Government Agency | 2.6% |
| Asset-backed securities | 2.0% |
| Term loans | 1.6% |
| Collateralized mortgage obligations – Commercial and residential | 1.4% |
| Exchange-traded funds | 1.3% |
| Preferred securities | 0.9% |
| Short-term investments | 13.0% |

---

**Country Composition**

---

| | |
|:---|:---|
| United States | 59.9% |
| Norway | 7.0% |
| Brazil | 5.3% |
| New Zealand | 4.2% |
| Australia | 3.4% |
| Colombia | 2.8% |
| United Kingdom | 2.0% |
| Iceland | 1.5% |
| Mexico | 1.1% |
| Other countries | 12.8% |

---

**Quality Composition**

![Graphical Representation - Allocation 2 Chart](chartimages_5972251.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 6-30-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

OPFI-SA-NAV

6/25

8/25

Opportunistic Fixed Income Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Select Bond Trust
Series I/JAFZX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Select Bond Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Select Bond Trust<br>(Series I/JAFZX) | $32 | 0.63% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$5551671842 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;765 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;54% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| U.S. Government Agency | 38.6% |
| Corporate bonds | 29.1% |
| U.S. Government | 17.7% |
| Asset-backed securities | 7.4% |
| Collateralized mortgage obligations – Commercial and residential | 3.8% |
| Collateralized mortgage obligations – U.S. Government Agency | 1.1% |
| Municipal bonds | 0.4% |
| Short-term investments and other | 1.9% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_5972110.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 6-30-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

SELB-SA-I

6/25

8/25

Select Bond Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Select Bond Trust
Series II/JHBDX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Select Bond Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Select Bond Trust<br>(Series II/JHBDX) | $42 | 0.83% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$5551671842 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;765 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;54% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| U.S. Government Agency | 38.6% |
| Corporate bonds | 29.1% |
| U.S. Government | 17.7% |
| Asset-backed securities | 7.4% |
| Collateralized mortgage obligations – Commercial and residential | 3.8% |
| Collateralized mortgage obligations – U.S. Government Agency | 1.1% |
| Municipal bonds | 0.4% |
| Short-term investments and other | 1.9% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_5972095.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 6-30-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

SELB-SA-II

6/25

8/25

Select Bond Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Select Bond Trust
Series NAV/JAGBX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Select Bond Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Select Bond Trust<br>(Series NAV/JAGBX) | $30 | 0.59% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$5551671842 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;765 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;54% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| U.S. Government Agency | 38.6% |
| Corporate bonds | 29.1% |
| U.S. Government | 17.7% |
| Asset-backed securities | 7.4% |
| Collateralized mortgage obligations – Commercial and residential | 3.8% |
| Collateralized mortgage obligations – U.S. Government Agency | 1.1% |
| Municipal bonds | 0.4% |
| Short-term investments and other | 1.9% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_5972070.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 6-30-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

SELB-SA-NAV

6/25

8/25

Select Bond Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Short Term Government Income Trust
Series I/JAJPX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Short Term Government Income Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Short Term Government Income Trust<br>(Series I/JAJPX) | $35 | 0.70% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$243431594 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;95 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;202% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| U.S. Government | 50.9% |
| U.S. Government Agency | 45.8% |
| Municipal bonds | 2.0% |
| Collateralized mortgage obligations – U.S. Government Agency | 0.3% |
| Short-term investments and other | 1.0% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_5972175.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 6-30-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

SHTG-SA-I

6/25

8/25

Short Term Government Income Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Short Term Government Income Trust
Series II/JAFWX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Short Term Government Income Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Short Term Government Income Trust<br>(Series II/JAFWX) | $45 | 0.90% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$243431594 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;95 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;202% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| U.S. Government | 50.9% |
| U.S. Government Agency | 45.8% |
| Municipal bonds | 2.0% |
| Collateralized mortgage obligations – U.S. Government Agency | 0.3% |
| Short-term investments and other | 1.0% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_5972150.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 6-30-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

SHTG-SA-II

6/25

8/25

Short Term Government Income Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Short Term Government Income Trust
Series NAV/JAFYX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Short Term Government Income Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Short Term Government Income Trust<br>(Series NAV/JAFYX) | $33 | 0.65% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$243431594 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;95 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;202% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| U.S. Government | 50.9% |
| U.S. Government Agency | 45.8% |
| Municipal bonds | 2.0% |
| Collateralized mortgage obligations – U.S. Government Agency | 0.3% |
| Short-term investments and other | 1.0% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_5972202.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 6-30-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

SHTG-SA-NAV

6/25

8/25

Short Term Government Income Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Strategic Income Opportunities Trust
Series I/JESNX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Strategic Income Opportunities Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Strategic Income Opportunities Trust<br>(Series I/JESNX) | $39 | 0.78% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$388052741 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;486 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;35% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| Corporate bonds | 46.3% |
| Foreign government obligations | 20.3% |
| Term loans | 9.5% |
| U.S. Government Agency | 6.3% |
| U.S. Government | 3.6% |
| Collateralized mortgage obligations – U.S. Government Agency | 3.3% |
| Collateralized mortgage obligations – Commercial and residential | 2.9% |
| Preferred securities | 2.5% |
| Convertible bonds | 1.6% |
| Asset-backed securities | 1.5% |
| Short-term investments and other | 2.2% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_5972525.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 6-30-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

STIO-SA-I

6/25

8/25

Strategic Income Opportunities Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Strategic Income Opportunities Trust
Series II/JESPX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Strategic Income Opportunities Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Strategic Income Opportunities Trust<br>(Series II/JESPX) | $50 | 0.98% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$388052741 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;486 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;35% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| Corporate bonds | 46.3% |
| Foreign government obligations | 20.3% |
| Term loans | 9.5% |
| U.S. Government Agency | 6.3% |
| U.S. Government | 3.6% |
| Collateralized mortgage obligations – U.S. Government Agency | 3.3% |
| Collateralized mortgage obligations – Commercial and residential | 2.9% |
| Preferred securities | 2.5% |
| Convertible bonds | 1.6% |
| Asset-backed securities | 1.5% |
| Short-term investments and other | 2.2% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_5972500.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 6-30-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

STIO-SA-II

6/25

8/25

Strategic Income Opportunities Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Strategic Income Opportunities Trust
Series NAV/JVRNX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Strategic Income Opportunities Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Strategic Income Opportunities Trust<br>(Series NAV/JVRNX) | $37 | 0.73% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$388052741 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;486 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;35% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| Corporate bonds | 46.3% |
| Foreign government obligations | 20.3% |
| Term loans | 9.5% |
| U.S. Government Agency | 6.3% |
| U.S. Government | 3.6% |
| Collateralized mortgage obligations – U.S. Government Agency | 3.3% |
| Collateralized mortgage obligations – Commercial and residential | 2.9% |
| Preferred securities | 2.5% |
| Convertible bonds | 1.6% |
| Asset-backed securities | 1.5% |
| Short-term investments and other | 2.2% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_5972540.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 6-30-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

STIO-SA-NAV

6/25

8/25

Strategic Income Opportunities Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Total Bond Market Trust
Series I/JTBMX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Total Bond Market Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Total Bond Market Trust<br>(Series I/JTBMX) | $15 | 0.30% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$1047589061 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1108 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;31% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| U.S. Government | 45.9% |
| U.S. Government Agency | 25.2% |
| Corporate bonds | 24.7% |
| Collateralized mortgage obligations – Commercial and residential | 1.4% |
| Foreign government obligations | 0.8% |
| Asset-backed securities | 0.5% |
| Municipal bonds | 0.3% |
| Short-term investments and other | 1.2% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_5971397.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 6-30-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

TBMT-SA-I

6/25

8/25

Total Bond Market Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Total Bond Market Trust
Series II/JAGVX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Total Bond Market Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Total Bond Market Trust<br>(Series II/JAGVX) | $25 | 0.50% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$1047589061 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1108 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;31% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| U.S. Government | 45.9% |
| U.S. Government Agency | 25.2% |
| Corporate bonds | 24.7% |
| Collateralized mortgage obligations – Commercial and residential | 1.4% |
| Foreign government obligations | 0.8% |
| Asset-backed securities | 0.5% |
| Municipal bonds | 0.3% |
| Short-term investments and other | 1.2% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_5971372.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 6-30-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

TBMT-SA-II

6/25

8/25

Total Bond Market Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Total Bond Market Trust
Series NAV/JAGUX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Total Bond Market Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Total Bond Market Trust<br>(Series NAV/JAGUX) | $13 | 0.25% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$1047589061 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1108 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;31% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| U.S. Government | 45.9% |
| U.S. Government Agency | 25.2% |
| Corporate bonds | 24.7% |
| Collateralized mortgage obligations – Commercial and residential | 1.4% |
| Foreign government obligations | 0.8% |
| Asset-backed securities | 0.5% |
| Municipal bonds | 0.3% |
| Short-term investments and other | 1.2% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_5971412.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 6-30-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

TBMT-SA-NAV

6/25

8/25

Total Bond Market Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Ultra Short Term Bond Trust
Series I/JAGJX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Ultra Short Term Bond Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Ultra Short Term Bond Trust<br>(Series I/JAGJX) | $31 | 0.61% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$229660118 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;198 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;29% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| Corporate bonds | 52.9% |
| Asset-backed securities | 23.8% |
| U.S. Government Agency | 0.4% |
| Collateralized mortgage obligations – U.S. Government Agency | 0.2% |
| Collateralized mortgage obligations – Commercial and residential | 0.1% |
| Short-term investments and other | 22.6% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_5972002.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 6-30-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

ULST-SA-I

6/25

8/25

Ultra Short Term Bond Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Ultra Short Term Bond Trust
Series II/JAGEX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Ultra Short Term Bond Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Ultra Short Term Bond Trust<br>(Series II/JAGEX) | $41 | 0.81% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$229660118 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;198 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;29% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| Corporate bonds | 52.9% |
| Asset-backed securities | 23.8% |
| U.S. Government Agency | 0.4% |
| Collateralized mortgage obligations – U.S. Government Agency | 0.2% |
| Collateralized mortgage obligations – Commercial and residential | 0.1% |
| Short-term investments and other | 22.6% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_5972029.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 6-30-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

ULST-SA-II

6/25

8/25

Ultra Short Term Bond Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Ultra Short Term Bond Trust
Series NAV/JAGFX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Ultra Short Term Bond Trust (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Ultra Short Term Bond Trust<br>(Series NAV/JAGFX) | $28 | 0.56% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$229660118 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;198 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;29% |

---

#### Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Portfolio Composition**

---

| | |
|:---|:---|
| Corporate bonds | 52.9% |
| Asset-backed securities | 23.8% |
| U.S. Government Agency | 0.4% |
| Collateralized mortgage obligations – U.S. Government Agency | 0.2% |
| Collateralized mortgage obligations – Commercial and residential | 0.1% |
| Short-term investments and other | 22.6% |

---

**Quality Composition**

![Graphical Representation - Allocation 1 Chart](chartimages_5971977.jpg)

Ratings are from Moody's Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. "Not rated" securities are those with no ratings available from these agencies. All ratings are as of 6-30-25 and do not reflect subsequent downgrades or upgrades, if any.

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

ULST-SA-NAV

6/25

8/25

Ultra Short Term Bond Trust

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Managed Volatility Balanced Portfolio
Series I/JELBX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Managed Volatility Balanced Portfolio (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Managed Volatility Balanced Portfolio<br>(Series I/JELBX) | $9 | 0.17% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$3903276208 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;26 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;9% |

---

#### Graphical Representation of Holdings
The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Asset Allocation**

---

| | |
|:---|:---|
| **Affiliated investment companies** | **98.0%** |
| **Equity** | **50.0%** |
| Large blend | 22.1% |
| U.S. large cap | 15.1% |
| Emerging-market equity | 4.0% |
| U.S. mid cap | 3.8% |
| U.S. small cap | 2.8% |
| International equity | 2.2% |
| **Fixed income** | **48.0%** |
| Intermediate bond | 48.0% |
| **Short-term investments and other** | **2.0%** |

---

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

MVBP-SA-I

6/25

8/25

Managed Volatility Balanced Portfolio

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Managed Volatility Balanced Portfolio
Series II/JAJRX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Managed Volatility Balanced Portfolio (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Managed Volatility Balanced Portfolio<br>(Series II/JAJRX) | $19 | 0.37% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$3903276208 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;26 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;9% |

---

#### Graphical Representation of Holdings
The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Asset Allocation**

---

| | |
|:---|:---|
| **Affiliated investment companies** | **98.0%** |
| **Equity** | **50.0%** |
| Large blend | 22.1% |
| U.S. large cap | 15.1% |
| Emerging-market equity | 4.0% |
| U.S. mid cap | 3.8% |
| U.S. small cap | 2.8% |
| International equity | 2.2% |
| **Fixed income** | **48.0%** |
| Intermediate bond | 48.0% |
| **Short-term investments and other** | **2.0%** |

---

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

MVBP-SA-II

6/25

8/25

Managed Volatility Balanced Portfolio

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Managed Volatility Balanced Portfolio
Series NAV/JAIYX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Managed Volatility Balanced Portfolio (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Managed Volatility Balanced Portfolio<br>(Series NAV/JAIYX) | $6 | 0.12% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$3903276208 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;26 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;9% |

---

#### Graphical Representation of Holdings
The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Asset Allocation**

---

| | |
|:---|:---|
| **Affiliated investment companies** | **98.0%** |
| **Equity** | **50.0%** |
| Large blend | 22.1% |
| U.S. large cap | 15.1% |
| Emerging-market equity | 4.0% |
| U.S. mid cap | 3.8% |
| U.S. small cap | 2.8% |
| International equity | 2.2% |
| **Fixed income** | **48.0%** |
| Intermediate bond | 48.0% |
| **Short-term investments and other** | **2.0%** |

---

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

MVBP-SA-NAV

6/25

8/25

Managed Volatility Balanced Portfolio

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Managed Volatility Conservative Portfolio
Series I/JELCX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Managed Volatility Conservative Portfolio (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Managed Volatility Conservative Portfolio<br>(Series I/JELCX) | $10 | 0.19% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$487321895 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;23 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;5% |

---

#### Graphical Representation of Holdings
The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Asset Allocation**

---

| | |
|:---|:---|
| **Affiliated investment companies** | **98.9%** |
| **Equity** | **20.0%** |
| Large blend | 9.1% |
| U.S. large cap | 7.2% |
| U.S. mid cap | 1.4% |
| Emerging-market equity | 1.3% |
| U.S. small cap | 1.0% |
| **Fixed income** | **78.9%** |
| Intermediate bond | 78.9% |
| **Short-term investments and other** | **1.1%** |

---

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

MVCP-SA-I

6/25

8/25

Managed Volatility Conservative Portfolio

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Managed Volatility Conservative Portfolio
Series II/JAISX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Managed Volatility Conservative Portfolio (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Managed Volatility Conservative Portfolio<br>(Series II/JAISX) | $20 | 0.39% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$487321895 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;23 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;5% |

---

#### Graphical Representation of Holdings
The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Asset Allocation**

---

| | |
|:---|:---|
| **Affiliated investment companies** | **98.9%** |
| **Equity** | **20.0%** |
| Large blend | 9.1% |
| U.S. large cap | 7.2% |
| U.S. mid cap | 1.4% |
| Emerging-market equity | 1.3% |
| U.S. small cap | 1.0% |
| **Fixed income** | **78.9%** |
| Intermediate bond | 78.9% |
| **Short-term investments and other** | **1.1%** |

---

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

MVCP-SA-II

6/25

8/25

Managed Volatility Conservative Portfolio

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Managed Volatility Conservative Portfolio
Series NAV/JAIUX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Managed Volatility Conservative Portfolio (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Managed Volatility Conservative Portfolio<br>(Series NAV/JAIUX) | $7 | 0.14% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$487321895 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;23 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;5% |

---

#### Graphical Representation of Holdings
The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Asset Allocation**

---

| | |
|:---|:---|
| **Affiliated investment companies** | **98.9%** |
| **Equity** | **20.0%** |
| Large blend | 9.1% |
| U.S. large cap | 7.2% |
| U.S. mid cap | 1.4% |
| Emerging-market equity | 1.3% |
| U.S. small cap | 1.0% |
| **Fixed income** | **78.9%** |
| Intermediate bond | 78.9% |
| **Short-term investments and other** | **1.1%** |

---

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

MVCP-SA-NAV

6/25

8/25

Managed Volatility Conservative Portfolio

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Managed Volatility Growth Portfolio
Series I/JELGX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Managed Volatility Growth Portfolio (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Managed Volatility Growth Portfolio<br>(Series I/JELGX) | $9 | 0.18% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$5200149430 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;26 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;11% |

---

#### Graphical Representation of Holdings
The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Asset Allocation**

---

| | |
|:---|:---|
| **Affiliated investment companies** | **96.9%** |
| **Equity** | **69.4%** |
| Large blend | 30.6% |
| U.S. large cap | 18.1% |
| Emerging-market equity | 6.3% |
| U.S. mid cap | 5.9% |
| International equity | 4.5% |
| U.S. small cap | 4.0% |
| **Fixed income** | **27.5%** |
| Intermediate bond | 27.5% |
| **Short-term investments and other** | **3.1%** |

---

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

MVGP-SA-I

6/25

8/25

Managed Volatility Growth Portfolio

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Managed Volatility Growth Portfolio
Series II/JAJAX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Managed Volatility Growth Portfolio (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Managed Volatility Growth Portfolio<br>(Series II/JAJAX) | $19 | 0.38% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$5200149430 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;26 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;11% |

---

#### Graphical Representation of Holdings
The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Asset Allocation**

---

| | |
|:---|:---|
| **Affiliated investment companies** | **96.9%** |
| **Equity** | **69.4%** |
| Large blend | 30.6% |
| U.S. large cap | 18.1% |
| Emerging-market equity | 6.3% |
| U.S. mid cap | 5.9% |
| International equity | 4.5% |
| U.S. small cap | 4.0% |
| **Fixed income** | **27.5%** |
| Intermediate bond | 27.5% |
| **Short-term investments and other** | **3.1%** |

---

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

MVGP-SA-II

6/25

8/25

Managed Volatility Growth Portfolio

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Managed Volatility Growth Portfolio
Series NAV/JAIZX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Managed Volatility Growth Portfolio (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Managed Volatility Growth Portfolio<br>(Series NAV/JAIZX) | $7 | 0.13% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$5200149430 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;26 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;11% |

---

#### Graphical Representation of Holdings
The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Asset Allocation**

---

| | |
|:---|:---|
| **Affiliated investment companies** | **96.9%** |
| **Equity** | **69.4%** |
| Large blend | 30.6% |
| U.S. large cap | 18.1% |
| Emerging-market equity | 6.3% |
| U.S. mid cap | 5.9% |
| International equity | 4.5% |
| U.S. small cap | 4.0% |
| **Fixed income** | **27.5%** |
| Intermediate bond | 27.5% |
| **Short-term investments and other** | **3.1%** |

---

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

MVGP-SA-NAV

6/25

8/25

Managed Volatility Growth Portfolio

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Managed Volatility Moderate Portfolio
Series I/JELMX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Managed Volatility Moderate Portfolio (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Managed Volatility Moderate Portfolio<br>(Series I/JELMX) | $9 | 0.17% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$1008014176 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;26 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;8% |

---

#### Graphical Representation of Holdings
The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Asset Allocation**

---

| | |
|:---|:---|
| **Affiliated investment companies** | **98.6%** |
| **Equity** | **40.0%** |
| Large blend | 18.1% |
| U.S. large cap | 13.4% |
| Emerging-market equity | 2.9% |
| U.S. mid cap | 2.8% |
| U.S. small cap | 1.9% |
| International equity | 0.9% |
| **Fixed income** | **58.6%** |
| Intermediate bond | 58.6% |
| **Short-term investments and other** | **1.4%** |

---

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

MVMP-SA-I

6/25

8/25

Managed Volatility Moderate Portfolio

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Managed Volatility Moderate Portfolio
Series II/JAIWX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Managed Volatility Moderate Portfolio (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Managed Volatility Moderate Portfolio<br>(Series II/JAIWX) | $19 | 0.37% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$1008014176 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;26 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;8% |

---

#### Graphical Representation of Holdings
The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Asset Allocation**

---

| | |
|:---|:---|
| **Affiliated investment companies** | **98.6%** |
| **Equity** | **40.0%** |
| Large blend | 18.1% |
| U.S. large cap | 13.4% |
| Emerging-market equity | 2.9% |
| U.S. mid cap | 2.8% |
| U.S. small cap | 1.9% |
| International equity | 0.9% |
| **Fixed income** | **58.6%** |
| Intermediate bond | 58.6% |
| **Short-term investments and other** | **1.4%** |

---

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

MVMP-SA-II

6/25

8/25

Managed Volatility Moderate Portfolio

![jh-signature](images_5119.jpg)

## John Hancock Variable Insurance Trust Managed Volatility Moderate Portfolio
Series NAV/JAIVX

#### Semiannual SHAREHOLDER REPORT \| June 30, 2025
This semiannual shareholder report contains important information about the Managed Volatility Moderate Portfolio (the fund) for the period of January 1, 2025 to June 30, 2025. You can find additional information about the fund at dfinview.com/johnhancock?site=funds. You can also request this information by contacting us at 800-344-1029 for John Hancock Variable Annuities and 800-732-5543 for John Hancock Variable Life Insurance.

#### What were the fund costs during the last six months ?

#### (Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Managed Volatility Moderate Portfolio<br>(Series NAV/JAIVX) | $6 | 0.12% |

---

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$1008014176 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;26 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;8% |

---

#### Graphical Representation of Holdings
The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund.

**Asset Allocation**

---

| | |
|:---|:---|
| **Affiliated investment companies** | **98.6%** |
| **Equity** | **40.0%** |
| Large blend | 18.1% |
| U.S. large cap | 13.4% |
| Emerging-market equity | 2.9% |
| U.S. mid cap | 2.8% |
| U.S. small cap | 1.9% |
| International equity | 0.9% |
| **Fixed income** | **58.6%** |
| Intermediate bond | 58.6% |
| **Short-term investments and other** | **1.4%** |

---

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

*The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .* 

Availability of Additional Information

![VIT TSR QR Code](images_5145.jpg)

At dfinview.com/johnhancock?site=funds, you can find additional information about the fund, including the fund's:

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

You can also request this information by contacting us at 800-344-1029.

**This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.**

John Hancock Distributors, LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, John Hancock Variable Annuities: 800-344-1029, John Hancock Variable Life Insurance: 800-732-5543, johnhancock.com

MVMP-SA-NAV

6/25

8/25

Managed Volatility Moderate Portfolio

------

ITEM 2. CODE OF ETHICS.

Item is not applicable at this time.

ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.

Item is not applicable at this time.

ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.

Item is not applicable at this time.

ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.

Item is not applicable at this time.

ITEM 6. SCHEDULE OF INVESTMENTS.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)Refer to information included in Item 7.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)Not applicable.

ITEM 7. FINANCIAL STATEMENTS AND FINANCIAL HIGHLIGHTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.

The Registrant prepared financial statements and financial highlights for the six months ended June 30, 2025 for the following funds:

John Hancock Variable Insurance Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•John Hancock 500 Index Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•John Hancock American Asset Allocation Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•John Hancock American Global Growth Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•John Hancock American Growth Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•John Hancock American Growth-Income Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•John Hancock American International Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•John Hancock Blue Chip Growth Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•John Hancock Capital Appreciation Value Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•John Hancock Disciplined Value International Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•John Hancock Disciplined Value Emerging Markets Equity Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•John Hancock Equity Income Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•John Hancock Financial Industries Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•John Hancock Fundamental All Cap Core Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•John Hancock Fundamental Large Cap Value Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•John Hancock Global Equity Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•John Hancock Health Sciences Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•John Hancock International Equity Index Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•John Hancock International Small Company Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•John Hancock Lifestyle Balanced Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•John Hancock Lifestyle Conservative Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•John Hancock Lifestyle Growth Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•John Hancock Lifestyle Moderate Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•John Hancock Mid Cap Growth Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•John Hancock Mid Cap Index Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•John Hancock Mid Value Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•John Hancock Real Estate Securities Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•John Hancock Science & Technology Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•John Hancock Small Cap Core Trust (formerly Small Cap Value Trust)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•John Hancock Small Cap Index Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•John Hancock Small Cap Opportunities Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•John Hancock Small Cap Stock Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•John Hancock Small Company Value Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•John Hancock Strategic Equity Allocation Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•John Hancock Total Stock Market Index Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•John Hancock U.S. Growth Trust (formerly Capital Appreciation Trust)

John Hancock Variable Insurance Trust - Bond Trusts

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•John Hancock Active Bond Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•John Hancock Core Bond Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•John Hancock High Yield Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•John Hancock Investment Quality Bond Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•John Hancock Money Market Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•John Hancock Opportunistic Fixed Income Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•John Hancock Select Bond Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•John Hancock Short Term Government Income Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•John Hancock Strategic Income Opportunities Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•John Hancock Total Bond Market Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•John Hancock Ultra Short Term Bond Trust

John Hancock Variable Insurance Trust - Managed Volatility Portfolios

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•John Hancock Managed Volatility Balanced Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•John Hancock Managed Volatility Conservative Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•John Hancock Managed Volatility Growth Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•John Hancock Managed Volatility Moderate Portfolio

In addition, the June 30, 2025 semiannual annual report for American Funds Insurance Series, which includes master funds in which the Registrant's portfolios invest, is included herein.

------

![](img7a01d9251.gif)

![](imgb7884e6e2.gif)

## JOHN HANCOCK

## Variable Insurance Trust
Semiannual Financial Statements & Other N-CSR Items

June 30, 2025

------

## John Hancock Variable Insurance Trust

#### Semiannual Financial Statements & Other N-CSR Items — Table of contents

------

---

| | |
|:---|:---|
| **[Portfolio of investments](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_1)[(See below for each portfolio's page #)](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_1)<br>**  | **3** |
| **[Statements of assets and liabilities](#xx_20941f07-b699-420c-8260-06e6b83cae9d_1)<br>**  | **171** |
| **[Statements of operations](#xx_20941f07-b699-420c-8260-06e6b83cae9d_10)<br>**  | **180** |
| **[Statements of changes in net assets](#xx_20941f07-b699-420c-8260-06e6b83cae9d_19)<br>**  | **189** |
| **[Financial highlights](#xx_645d9c75-a7cb-4485-8630-c04694285ae6_1)<br>**  | **195** |
| **[Notes to financial statements](#xx_7b786ef8-f168-449a-9890-762c1b142852_1)<br>**  | **212** |
| **[Special shareholder meeting](#xx_8141deb3-4b20-4fb7-b89d-d089667a4716_1)<br>**  | **252** |
| **[Evaluation of advisory and subadvisory agreements by the Board of Trustees](#xx_fc9d8b7a-365c-449f-a103-9affde9875fc_1)<br>**  | **253** |
| **[Appendix A](#xx_efe64eb8-1888-469a-86e3-b588d7b3c937_1)<br>**  | **257** |

---

---

| | | |
|:---|:---|:---|
| **Portfolio** | **Portfolio of investments** | **Portfolio of investments** |
| [500 Index Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_1) | [500 Index Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_1) | 3 |
| [American Asset Allocation Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_6) | [American Asset Allocation Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_6) | 8 |
| [American Global Growth Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_6) | [American Global Growth Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_6) | 8 |
| [American Growth Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_7) | [American Growth Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_7) | 9 |
| [American Growth-Income Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_7) | [American Growth-Income Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_7) | 9 |
| [American International Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_7) | [American International Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_7) | 9 |
| [Blue Chip Growth Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_7) | [Blue Chip Growth Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_7) | 9 |
| [Capital Appreciation Value Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_8) | [Capital Appreciation Value Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_8) | 10 |
| [Disciplined Value Emerging Markets Equity Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_14) | [Disciplined Value Emerging Markets Equity Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_14) | 16 |
| [Disciplined Value International Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_17) | [Disciplined Value International Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_17) | 19 |
| [Equity Income Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_18) | [Equity Income Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_18) | 20 |
| [Financial Industries Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_20) | [Financial Industries Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_20) | 22 |
| [Fundamental All Cap Core Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_21) | [Fundamental All Cap Core Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_21) | 23 |
| [Fundamental Large Cap Value Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_22) | [Fundamental Large Cap Value Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_22) | 24 |
| [Global Equity Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_23) | [Global Equity Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_23) | 25 |
| [Health Sciences Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_24) | [Health Sciences Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_24) | 26 |
| [International Equity Index Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_26) | [International Equity Index Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_26) | 28 |
| [International Small Company Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_46) | [International Small Company Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_46) | 48 |

---

---

| | | |
|:---|:---|:---|
| **Portfolio** | **Portfolio of investments** | **Portfolio of investments** |
| [Lifestyle Balanced Portfolio](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_70) | [Lifestyle Balanced Portfolio](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_70) | 72 |
| [Lifestyle Conservative Portfolio](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_70) | [Lifestyle Conservative Portfolio](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_70) | 72 |
| [Lifestyle Growth Portfolio](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_70) | [Lifestyle Growth Portfolio](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_70) | 72 |
| [Lifestyle Moderate Portfolio](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_70) | [Lifestyle Moderate Portfolio](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_70) | 72 |
| [Mid Cap Growth Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_71) | [Mid Cap Growth Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_71) | 73 |
| [Mid Cap Index Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_72) | [Mid Cap Index Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_72) | 74 |
| [Mid Value Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_77) | [Mid Value Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_77) | 79 |
| [Real Estate Securities Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_79) | [Real Estate Securities Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_79) | 81 |
| [Science & Technology Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_80) | [Science & Technology Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_80) | 82 |
| [Small Cap Core Trust (formerly Small Cap Value Trust)](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_81) | [Small Cap Core Trust (formerly Small Cap Value Trust)](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_81) | 83 |
| [Small Cap Index Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_83) | [Small Cap Index Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_83) | 85 |
| [Small Cap Opportunities Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_99) | [Small Cap Opportunities Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_99) | 101 |
| [Small Cap Stock Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_109) | [Small Cap Stock Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_109) | 111 |
| [Small Company Value Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_111) | [Small Company Value Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_111) | 113 |
| [Strategic Equity Allocation Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_114) | [Strategic Equity Allocation Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_114) | 116 |
| [Total Stock Market Index Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_143) | [Total Stock Market Index Trust](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_143) | 145 |
| [U.S. Growth Trust (formerly Capital Appreciation Trust)](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_165) | [U.S. Growth Trust (formerly Capital Appreciation Trust)](#xx_6c9a486e-4449-436f-83ff-ec49d6e6d969_165) | 167 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### 500 Index Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS – 97.0%** | **COMMON STOCKS – 97.0%** |  |
| **Communication services – 9.5%** |  |  |
| **Diversified telecommunication services – 0.7%** | **Diversified telecommunication services – 0.7%** |  |
| AT&T, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1495709 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43285818 |
| Verizon Communications, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;877509 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37969814 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81255632 |
| **Entertainment – 1.7%** | **Entertainment – 1.7%** |  |
| Electronic Arts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7386604 |
| Live Nation Entertainment, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32687 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4944889 |
| Netflix, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88673 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118744674 |
| Take-Two Interactive Software, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8806227 |
| The Walt Disney Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375498 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46565507 |
| TKO Group Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13773 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2505997 |
| Warner Brothers Discovery, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;465346 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5332865 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194286763 |
| **Interactive media and services – 6.4%** | **Interactive media and services – 6.4%** |  |
| Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1214419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214017060 |
| Alphabet, Inc., Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;981026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174024202 |
| Match Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52341 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1616813 |
| Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;453344 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;334608673 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;724266748 |
| **Media – 0.5%** | **Media – 0.5%** |  |
| Charter Communications, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8239974 |
| Comcast Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;784476 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27997948 |
| Fox Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2583500 |
| Fox Corp., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1419825 |
| News Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2347434 |
| News Corp., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23339 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800761 |
| Omnicom Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2925656 |
| Paramount Global, Class B (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1599871 |
| The Interpublic Group of Companies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1900896 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49815865 |
| **Wireless telecommunication services – 0.2%** | **Wireless telecommunication services – 0.2%** |  |
| T-Mobile US, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23774536 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1073399544 |
| **Consumer discretionary – 10.1%** |  |  |
| **Automobile components – 0.0%** | **Automobile components – 0.0%** |  |
| Aptiv PLC (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3342371 |
| **Automobiles – 1.8%** | **Automobiles – 1.8%** |  |
| Ford Motor Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;813683 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8828461 |
| General Motors Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9604217 |
| Tesla, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;585115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185867626 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204300304 |
| **Broadline retail – 3.9%** | **Broadline retail – 3.9%** |  |
| Amazon.com, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1972627 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;432774638 |
| eBay, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6927461 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;439702099 |
| **Distributors – 0.1%** | **Distributors – 0.1%** |  |
| Genuine Parts Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28982 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3515806 |
| LKQ Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2005535 |
| Pool Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2312311 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7833652 |
| **Hotels, restaurants and leisure – 2.0%** | **Hotels, restaurants and leisure – 2.0%** |  |
| Airbnb, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11941568 |
| Booking Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6791 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39314729 |
| Caesars Entertainment, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44292 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1257450 |
| Carnival Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6088824 |
| Chipotle Mexican Grill, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;279948 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15719080 |
| Darden Restaurants, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24493 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5338739 |
| Domino's Pizza, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7198 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3243419 |
| DoorDash, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17397443 |
| Expedia Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4318714 |
| Hilton Worldwide Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49932 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13298889 |

---

#### 500 Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Hotels, restaurants and leisure (continued)** | **Hotels, restaurants and leisure (continued)** |  |
| Las Vegas Sands Corp. | &nbsp;&nbsp;72544 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3156389 |
| Marriott International, Inc., Class A | &nbsp;&nbsp;47271 | &nbsp;&nbsp;&nbsp;&nbsp;12914910 |
| McDonald's Corp. | 149381 | &nbsp;&nbsp;&nbsp;&nbsp;43644647 |
| MGM Resorts International (A) | &nbsp;&nbsp;47169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1622142 |
| Norwegian Cruise Line Holdings, Ltd. (A) | &nbsp;&nbsp;91658 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1858824 |
| Royal Caribbean Cruises, Ltd. | &nbsp;&nbsp;51564 | &nbsp;&nbsp;&nbsp;&nbsp;16146751 |
| Starbucks Corp. | 236281 | &nbsp;&nbsp;&nbsp;&nbsp;21650428 |
| Wynn Resorts, Ltd. | &nbsp;&nbsp;19273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1805302 |
| Yum! Brands, Inc. | &nbsp;&nbsp;58173 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8620075 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;229338323 |
| **Household durables – 0.3%** | **Household durables – 0.3%** |  |
| D.R. Horton, Inc. | &nbsp;&nbsp;54684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7049861 |
| Garmin, Ltd. | &nbsp;&nbsp;32023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6683841 |
| Lennar Corp., Class A | &nbsp;&nbsp;48115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5322000 |
| Mohawk Industries, Inc. (A) | &nbsp;&nbsp;10921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1144958 |
| NVR, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;611 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4512638 |
| PulteGroup, Inc. | &nbsp;&nbsp;42750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4508415 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;29221713 |
| **Leisure products – 0.0%** | **Leisure products – 0.0%** |  |
| Hasbro, Inc. | &nbsp;&nbsp;27335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2017870 |
| **Specialty retail – 1.7%** | **Specialty retail – 1.7%** |  |
| AutoZone, Inc. (A) | &nbsp;&nbsp;&nbsp;3468 | &nbsp;&nbsp;&nbsp;&nbsp;12874014 |
| Best Buy Company, Inc. | &nbsp;&nbsp;40732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2734339 |
| CarMax, Inc. (A) | &nbsp;&nbsp;32294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2170480 |
| Lowe's Companies, Inc. | 117297 | &nbsp;&nbsp;&nbsp;&nbsp;26024685 |
| O'Reilly Automotive, Inc. (A) | 180510 | &nbsp;&nbsp;&nbsp;&nbsp;16269366 |
| Ross Stores, Inc. | &nbsp;&nbsp;69157 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8823050 |
| The Home Depot, Inc. | 207055 | &nbsp;&nbsp;&nbsp;&nbsp;75914645 |
| The TJX Companies, Inc. | 233404 | &nbsp;&nbsp;&nbsp;&nbsp;28823060 |
| Tractor Supply Company | 111355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5876203 |
| Ulta Beauty, Inc. (A) | &nbsp;&nbsp;&nbsp;9821 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4594460 |
| Williams-Sonoma, Inc. | &nbsp;&nbsp;25486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4163648 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;188267950 |
| **Textiles, apparel and luxury goods – 0.3%** | **Textiles, apparel and luxury goods – 0.3%** |  |
| Deckers Outdoor Corp. (A) | &nbsp;&nbsp;31669 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3264124 |
| Lululemon Athletica, Inc. (A) | &nbsp;&nbsp;23546 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5594059 |
| NIKE, Inc., Class B | 245187 | &nbsp;&nbsp;&nbsp;&nbsp;17418084 |
| Ralph Lauren Corp. | &nbsp;&nbsp;&nbsp;8383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2299289 |
| Tapestry, Inc. | &nbsp;&nbsp;42589 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3739740 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;32315296 |
|  |  | 1136339578 |
| **Consumer staples – 5.4%** |  |  |
| **Beverages – 1.1%** | **Beverages – 1.1%** |  |
| Brown-Forman Corp., Class B | &nbsp;&nbsp;37964 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021611 |
| Constellation Brands, Inc., Class A | &nbsp;&nbsp;32544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5294258 |
| Keurig Dr. Pepper, Inc. | 284045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9390528 |
| Molson Coors Beverage Company, Class B | &nbsp;&nbsp;36411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1751005 |
| Monster Beverage Corp. (A) | 145961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9142997 |
| PepsiCo, Inc. | 285995 | &nbsp;&nbsp;&nbsp;&nbsp;37762780 |
| The Coca-Cola Company | 812916 | &nbsp;&nbsp;&nbsp;&nbsp;57513807 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;121876986 |
| **Consumer staples distribution and retail – 1.9%** | **Consumer staples distribution and retail – 1.9%** |  |
| Costco Wholesale Corp. | &nbsp;&nbsp;92360 | &nbsp;&nbsp;&nbsp;&nbsp;91430858 |
| Dollar General Corp. | &nbsp;&nbsp;45842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5243408 |
| Dollar Tree, Inc. (A) | &nbsp;&nbsp;42127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4172258 |
| Sysco Corp. | 102398 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7755625 |
| Target Corp. | &nbsp;&nbsp;96029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9473261 |
| The Kroger Company | 128370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9207980 |
| Walgreens Boots Alliance, Inc. | 149593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1717328 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>3</sub>

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### 500 Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Consumer staples distribution and retail (continued)** | **Consumer staples distribution and retail (continued)** |  |
| Walmart, Inc. | 902502 | $&nbsp;&nbsp;&nbsp;88246646 |
|  |  | 217247364 |
| **Food products – 0.6%** | **Food products – 0.6%** |  |
| Archer-Daniels-Midland Company | &nbsp;&nbsp;99670 | &nbsp;&nbsp;&nbsp;&nbsp;5260583 |
| Bunge Global SA | &nbsp;&nbsp;26444 | &nbsp;&nbsp;&nbsp;&nbsp;2122924 |
| Conagra Brands, Inc. | &nbsp;&nbsp;99488 | &nbsp;&nbsp;&nbsp;&nbsp;2036519 |
| General Mills, Inc. | 115724 | &nbsp;&nbsp;&nbsp;&nbsp;5995660 |
| Hormel Foods Corp. | &nbsp;&nbsp;60583 | &nbsp;&nbsp;&nbsp;&nbsp;1832636 |
| Kellanova | &nbsp;&nbsp;56045 | &nbsp;&nbsp;&nbsp;&nbsp;4457259 |
| Lamb Weston Holdings, Inc. | &nbsp;&nbsp;29725 | &nbsp;&nbsp;&nbsp;&nbsp;1541241 |
| McCormick & Company, Inc. | &nbsp;&nbsp;52570 | &nbsp;&nbsp;&nbsp;&nbsp;3985857 |
| Mondelez International, Inc., Class A | 269249 | &nbsp;&nbsp;&nbsp;18158153 |
| The Campbell's Company | &nbsp;&nbsp;40946 | &nbsp;&nbsp;&nbsp;&nbsp;1254995 |
| The Hershey Company | &nbsp;&nbsp;30797 | &nbsp;&nbsp;&nbsp;&nbsp;5110762 |
| The J.M. Smucker Company | &nbsp;&nbsp;22181 | &nbsp;&nbsp;&nbsp;&nbsp;2178174 |
| The Kraft Heinz Company | 177300 | &nbsp;&nbsp;&nbsp;&nbsp;4577886 |
| Tyson Foods, Inc., Class A | &nbsp;&nbsp;59587 | &nbsp;&nbsp;&nbsp;&nbsp;3333297 |
|  |  | &nbsp;&nbsp;&nbsp;61845946 |
| **Household products – 1.0%** | **Household products – 1.0%** |  |
| Church & Dwight Company, Inc. | &nbsp;&nbsp;51070 | &nbsp;&nbsp;&nbsp;&nbsp;4908338 |
| Colgate-Palmolive Company | 168094 | &nbsp;&nbsp;&nbsp;15279745 |
| Kimberly-Clark Corp. | &nbsp;&nbsp;69516 | &nbsp;&nbsp;&nbsp;&nbsp;8962003 |
| The Clorox Company | &nbsp;&nbsp;25803 | &nbsp;&nbsp;&nbsp;&nbsp;3098166 |
| The Procter & Gamble Company | 491593 | &nbsp;&nbsp;&nbsp;78320597 |
|  |  | 110568849 |
| **Personal care products – 0.1%** | **Personal care products – 0.1%** |  |
| Kenvue, Inc. | 399658 | &nbsp;&nbsp;&nbsp;&nbsp;8364842 |
| The Estee Lauder Companies, Inc., Class A | &nbsp;&nbsp;48660 | &nbsp;&nbsp;&nbsp;&nbsp;3931728 |
|  |  | &nbsp;&nbsp;&nbsp;12296570 |
| **Tobacco – 0.7%** | **Tobacco – 0.7%** |  |
| Altria Group, Inc. | 353289 | &nbsp;&nbsp;&nbsp;20713334 |
| Philip Morris International, Inc. | 324109 | &nbsp;&nbsp;&nbsp;59029972 |
|  |  | &nbsp;&nbsp;&nbsp;79743306 |
|  |  | 603579021 |
| **Energy – 2.9%** |  |  |
| **Energy equipment and services – 0.2%** | **Energy equipment and services – 0.2%** |  |
| Baker Hughes Company | 206269 | &nbsp;&nbsp;&nbsp;&nbsp;7908353 |
| Halliburton Company | 183126 | &nbsp;&nbsp;&nbsp;&nbsp;3732108 |
| Schlumberger, Ltd. | 274757 | &nbsp;&nbsp;&nbsp;&nbsp;9286787 |
|  |  | &nbsp;&nbsp;&nbsp;20927248 |
| **Oil, gas and consumable fuels – 2.7%** | **Oil, gas and consumable fuels – 2.7%** |  |
| APA Corp. | &nbsp;&nbsp;77117 | &nbsp;&nbsp;&nbsp;&nbsp;1410470 |
| Chevron Corp. | 338963 | &nbsp;&nbsp;&nbsp;48536112 |
| ConocoPhillips | 265245 | &nbsp;&nbsp;&nbsp;23803086 |
| Coterra Energy, Inc. | 153548 | &nbsp;&nbsp;&nbsp;&nbsp;3897048 |
| Devon Energy Corp. | 136933 | &nbsp;&nbsp;&nbsp;&nbsp;4355839 |
| Diamondback Energy, Inc. | &nbsp;&nbsp;38954 | &nbsp;&nbsp;&nbsp;&nbsp;5352280 |
| EOG Resources, Inc. | 112248 | &nbsp;&nbsp;&nbsp;13425983 |
| EQT Corp. | 124380 | &nbsp;&nbsp;&nbsp;&nbsp;7253842 |
| Expand Energy Corp. | &nbsp;&nbsp;47917 | &nbsp;&nbsp;&nbsp;&nbsp;5603414 |
| Exxon Mobil Corp. | 900295 | &nbsp;&nbsp;&nbsp;97051801 |
| Hess Corp. | &nbsp;&nbsp;57614 | &nbsp;&nbsp;&nbsp;&nbsp;7981844 |
| Kinder Morgan, Inc. | 402903 | &nbsp;&nbsp;&nbsp;11845348 |
| Marathon Petroleum Corp. | &nbsp;&nbsp;62382 | &nbsp;&nbsp;&nbsp;10362274 |
| Occidental Petroleum Corp. | 152480 | &nbsp;&nbsp;&nbsp;&nbsp;6405685 |
| ONEOK, Inc. | 128815 | &nbsp;&nbsp;&nbsp;10515168 |
| Phillips 66 | &nbsp;&nbsp;86089 | &nbsp;&nbsp;&nbsp;10270418 |
| Targa Resources Corp. | &nbsp;&nbsp;45456 | &nbsp;&nbsp;&nbsp;&nbsp;7912980 |
| Texas Pacific Land Corp. | &nbsp;&nbsp;&nbsp;3927 | &nbsp;&nbsp;&nbsp;&nbsp;4148444 |
| The Williams Companies, Inc. | 254106 | &nbsp;&nbsp;&nbsp;15960398 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Oil, gas and consumable fuels (continued)** | **Oil, gas and consumable fuels (continued)** |  |
| Valero Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;65993 | $&nbsp;&nbsp;&nbsp;&nbsp;8870779 |
|  |  | 304963213 |
|  |  | 325890461 |
| **Financials – 13.6%** |  |  |
| **Banks – 3.5%** | **Banks – 3.5%** |  |
| Bank of America Corp. | 1367181 | &nbsp;&nbsp;&nbsp;64695005 |
| Citigroup, Inc. | &nbsp;&nbsp;390889 | &nbsp;&nbsp;&nbsp;33272472 |
| Citizens Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;91865 | &nbsp;&nbsp;&nbsp;&nbsp;4110959 |
| Fifth Third Bancorp | &nbsp;&nbsp;139777 | &nbsp;&nbsp;&nbsp;&nbsp;5749028 |
| Huntington Bancshares, Inc. | &nbsp;&nbsp;302842 | &nbsp;&nbsp;&nbsp;&nbsp;5075632 |
| JPMorgan Chase & Co. | &nbsp;&nbsp;580326 | 168242311 |
| KeyCorp | &nbsp;&nbsp;206629 | &nbsp;&nbsp;&nbsp;&nbsp;3599477 |
| M&T Bank Corp. | &nbsp;&nbsp;&nbsp;&nbsp;34587 | &nbsp;&nbsp;&nbsp;&nbsp;6709532 |
| Regions Financial Corp. | &nbsp;&nbsp;189455 | &nbsp;&nbsp;&nbsp;&nbsp;4455982 |
| The PNC Financial Services Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;82711 | &nbsp;&nbsp;&nbsp;15418985 |
| Truist Financial Corp. | &nbsp;&nbsp;271873 | &nbsp;&nbsp;&nbsp;11687820 |
| U.S. Bancorp | &nbsp;&nbsp;325193 | &nbsp;&nbsp;&nbsp;14714983 |
| Wells Fargo & Company | &nbsp;&nbsp;677644 | &nbsp;&nbsp;&nbsp;54292837 |
|  |  | 392025023 |
| **Capital markets – 3.3%** | **Capital markets – 3.3%** |  |
| Ameriprise Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;20223 | &nbsp;&nbsp;&nbsp;10793622 |
| BlackRock, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;30348 | &nbsp;&nbsp;&nbsp;31842639 |
| Cboe Global Markets, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;21822 | &nbsp;&nbsp;&nbsp;&nbsp;5089109 |
| CME Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;75118 | &nbsp;&nbsp;&nbsp;20704023 |
| Coinbase Global, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;44050 | &nbsp;&nbsp;&nbsp;15439085 |
| FactSet Research Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;7919 | &nbsp;&nbsp;&nbsp;&nbsp;3542010 |
| Franklin Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;64405 | &nbsp;&nbsp;&nbsp;&nbsp;1536059 |
| Intercontinental Exchange, Inc. | &nbsp;&nbsp;119689 | &nbsp;&nbsp;&nbsp;21959341 |
| Invesco, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;93687 | &nbsp;&nbsp;&nbsp;&nbsp;1477444 |
| KKR & Company, Inc. | &nbsp;&nbsp;140717 | &nbsp;&nbsp;&nbsp;18719583 |
| MarketAxess Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;7860 | &nbsp;&nbsp;&nbsp;&nbsp;1755452 |
| Moody's Corp. | &nbsp;&nbsp;&nbsp;&nbsp;32049 | &nbsp;&nbsp;&nbsp;16075458 |
| Morgan Stanley | &nbsp;&nbsp;256914 | &nbsp;&nbsp;&nbsp;36188906 |
| MSCI, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;15986 | &nbsp;&nbsp;&nbsp;&nbsp;9219766 |
| Nasdaq, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;86263 | &nbsp;&nbsp;&nbsp;&nbsp;7713637 |
| Northern Trust Corp. | &nbsp;&nbsp;&nbsp;&nbsp;41319 | &nbsp;&nbsp;&nbsp;&nbsp;5238836 |
| Raymond James Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;38141 | &nbsp;&nbsp;&nbsp;&nbsp;5849685 |
| S&P Global, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;65560 | &nbsp;&nbsp;&nbsp;34569132 |
| State Street Corp. | &nbsp;&nbsp;&nbsp;&nbsp;58888 | &nbsp;&nbsp;&nbsp;&nbsp;6262150 |
| T. Rowe Price Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;46310 | &nbsp;&nbsp;&nbsp;&nbsp;4468915 |
| The Bank of New York Mellon Corp. | &nbsp;&nbsp;149174 | &nbsp;&nbsp;&nbsp;13591243 |
| The Blackstone Group, Inc. | &nbsp;&nbsp;152378 | &nbsp;&nbsp;&nbsp;22792701 |
| The Charles Schwab Corp. | &nbsp;&nbsp;354798 | &nbsp;&nbsp;&nbsp;32371770 |
| The Goldman Sachs Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;64157 | &nbsp;&nbsp;&nbsp;45407117 |
|  |  | 372607683 |
| **Consumer finance – 0.6%** | **Consumer finance – 0.6%** |  |
| American Express Company | &nbsp;&nbsp;115266 | &nbsp;&nbsp;&nbsp;36767549 |
| Capital One Financial Corp. | &nbsp;&nbsp;132866 | &nbsp;&nbsp;&nbsp;28268570 |
| Synchrony Financial | &nbsp;&nbsp;&nbsp;&nbsp;81160 | &nbsp;&nbsp;&nbsp;&nbsp;5416618 |
|  |  | &nbsp;&nbsp;&nbsp;70452737 |
| **Financial services – 4.2%** | **Financial services – 4.2%** |  |
| Apollo Global Management, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;93177 | &nbsp;&nbsp;&nbsp;13219021 |
| Berkshire Hathaway, Inc., Class B (A) | &nbsp;&nbsp;383359 | 186224301 |
| Corpay, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;14531 | &nbsp;&nbsp;&nbsp;&nbsp;4821676 |
| Fidelity National Information Services, Inc. | &nbsp;&nbsp;109527 | &nbsp;&nbsp;&nbsp;&nbsp;8916593 |
| Fiserv, Inc. (A) | &nbsp;&nbsp;115319 | &nbsp;&nbsp;&nbsp;19882149 |
| Global Payments, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;51009 | &nbsp;&nbsp;&nbsp;&nbsp;4082760 |
| Jack Henry & Associates, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;15208 | &nbsp;&nbsp;&nbsp;&nbsp;2740025 |
| Mastercard, Inc., Class A | &nbsp;&nbsp;169686 | &nbsp;&nbsp;&nbsp;95353351 |
| PayPal Holdings, Inc. (A) | &nbsp;&nbsp;205829 | &nbsp;&nbsp;&nbsp;15297211 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>4</sub>

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### 500 Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Financial services (continued)** | **Financial services (continued)** |  |
| Visa, Inc., Class A | 357381 | $&nbsp;&nbsp;&nbsp;&nbsp;126888124 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;477425211 |
| **Insurance – 2.0%** | **Insurance – 2.0%** |  |
| Aflac, Inc. | 102374 | &nbsp;&nbsp;&nbsp;&nbsp;10796362 |
| American International Group, Inc. | 123270 | &nbsp;&nbsp;&nbsp;&nbsp;10550679 |
| Aon PLC, Class A | &nbsp;&nbsp;45081 | &nbsp;&nbsp;&nbsp;&nbsp;16083098 |
| Arch Capital Group, Ltd. | &nbsp;&nbsp;78111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7112007 |
| Arthur J. Gallagher & Company | &nbsp;&nbsp;52830 | &nbsp;&nbsp;&nbsp;&nbsp;16911940 |
| Assurant, Inc. | &nbsp;&nbsp;10691 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2111366 |
| Brown & Brown, Inc. | &nbsp;&nbsp;49475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5485293 |
| Chubb, Ltd. | &nbsp;&nbsp;77434 | &nbsp;&nbsp;&nbsp;&nbsp;22434178 |
| Cincinnati Financial Corp. | &nbsp;&nbsp;32584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4852409 |
| Erie Indemnity Company, Class A | &nbsp;&nbsp;&nbsp;5199 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1802961 |
| Everest Group, Ltd. | &nbsp;&nbsp;&nbsp;8959 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3044716 |
| Globe Life, Inc. | &nbsp;&nbsp;17499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2174951 |
| Loews Corp. | &nbsp;&nbsp;35398 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3244581 |
| Marsh & McLennan Companies, Inc. | 102376 | &nbsp;&nbsp;&nbsp;&nbsp;22383489 |
| MetLife, Inc. | 114518 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9209538 |
| Principal Financial Group, Inc. | &nbsp;&nbsp;43864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3484118 |
| Prudential Financial, Inc. | &nbsp;&nbsp;74209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7973015 |
| The Allstate Corp. | &nbsp;&nbsp;55199 | &nbsp;&nbsp;&nbsp;&nbsp;11112111 |
| The Hartford Insurance Group, Inc. | &nbsp;&nbsp;60428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7666500 |
| The Progressive Corp. | 122114 | &nbsp;&nbsp;&nbsp;&nbsp;32587342 |
| The Travelers Companies, Inc. | &nbsp;&nbsp;47323 | &nbsp;&nbsp;&nbsp;&nbsp;12660795 |
| W.R. Berkley Corp. | &nbsp;&nbsp;62754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4610536 |
| Willis Towers Watson PLC | &nbsp;&nbsp;20996 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6435274 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;224727259 |
|  |  | 1537237913 |
| **Health care – 9.0%** |  |  |
| **Biotechnology – 1.5%** | **Biotechnology – 1.5%** |  |
| AbbVie, Inc. | 370269 | &nbsp;&nbsp;&nbsp;&nbsp;68729332 |
| Amgen, Inc. | 112050 | &nbsp;&nbsp;&nbsp;&nbsp;31285481 |
| Biogen, Inc. (A) | &nbsp;&nbsp;30376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3814922 |
| Gilead Sciences, Inc. | 259788 | &nbsp;&nbsp;&nbsp;&nbsp;28802696 |
| Incyte Corp. (A) | &nbsp;&nbsp;33331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2269841 |
| Moderna, Inc. (A) | &nbsp;&nbsp;70590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1947578 |
| Regeneron Pharmaceuticals, Inc. | &nbsp;&nbsp;21944 | &nbsp;&nbsp;&nbsp;&nbsp;11520600 |
| Vertex Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;53292 | &nbsp;&nbsp;&nbsp;&nbsp;23725598 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;172096048 |
| **Health care equipment and supplies – 2.2%** | **Health care equipment and supplies – 2.2%** |  |
| Abbott Laboratories | 365541 | &nbsp;&nbsp;&nbsp;&nbsp;49717231 |
| Align Technology, Inc. (A) | &nbsp;&nbsp;14628 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2769519 |
| Baxter International, Inc. | 106434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3222822 |
| Becton, Dickinson and Company | &nbsp;&nbsp;59388 | &nbsp;&nbsp;&nbsp;&nbsp;10229583 |
| Boston Scientific Corp. (A) | 307223 | &nbsp;&nbsp;&nbsp;&nbsp;32998822 |
| DexCom, Inc. (A) | &nbsp;&nbsp;81421 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7107239 |
| Edwards Lifesciences Corp. (A) | 122946 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9615607 |
| GE HealthCare Technologies, Inc. | &nbsp;&nbsp;95236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7054131 |
| Hologic, Inc. (A) | &nbsp;&nbsp;45160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2942626 |
| IDEXX Laboratories, Inc. (A) | &nbsp;&nbsp;17069 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9154787 |
| Insulet Corp. (A) | &nbsp;&nbsp;14622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4593940 |
| Intuitive Surgical, Inc. (A) | &nbsp;&nbsp;75283 | &nbsp;&nbsp;&nbsp;&nbsp;40909535 |
| Medtronic PLC | 267334 | &nbsp;&nbsp;&nbsp;&nbsp;23303505 |
| ResMed, Inc. | &nbsp;&nbsp;30600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7894800 |
| Solventum Corp. (A) | &nbsp;&nbsp;28809 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2184875 |
| STERIS PLC | &nbsp;&nbsp;20576 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4942767 |
| Stryker Corp. | &nbsp;&nbsp;71519 | &nbsp;&nbsp;&nbsp;&nbsp;28295062 |
| The Cooper Companies, Inc. (A) | &nbsp;&nbsp;41515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2954207 |
| Zimmer Biomet Holdings, Inc. | &nbsp;&nbsp;41498 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3785033 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;253676091 |
| **Health care providers and services – 1.7%** | **Health care providers and services – 1.7%** |  |
| Cardinal Health, Inc. | &nbsp;&nbsp;50448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8475264 |
| Cencora, Inc. | &nbsp;&nbsp;35804 | &nbsp;&nbsp;&nbsp;&nbsp;10735829 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Health care providers and services (continued)** | **Health care providers and services (continued)** |  |
| Centene Corp. (A) | &nbsp;&nbsp;101859 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5528907 |
| CVS Health Corp. | &nbsp;&nbsp;262319 | &nbsp;&nbsp;&nbsp;&nbsp;18094765 |
| DaVita, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;9405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1339742 |
| Elevance Health, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;46940 | &nbsp;&nbsp;&nbsp;&nbsp;18257782 |
| HCA Healthcare, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;35784 | &nbsp;&nbsp;&nbsp;&nbsp;13708850 |
| Henry Schein, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;25990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1898570 |
| Humana, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;25100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6136448 |
| Labcorp Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;17435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4576862 |
| McKesson Corp. | &nbsp;&nbsp;&nbsp;&nbsp;26080 | &nbsp;&nbsp;&nbsp;&nbsp;19110902 |
| Molina Healthcare, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;11287 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3362397 |
| Quest Diagnostics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;23266 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4179272 |
| The Cigna Group | &nbsp;&nbsp;&nbsp;&nbsp;55283 | &nbsp;&nbsp;&nbsp;&nbsp;18275454 |
| UnitedHealth Group, Inc. | &nbsp;&nbsp;189686 | &nbsp;&nbsp;&nbsp;&nbsp;59176341 |
| Universal Health Services, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;12239 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2217095 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;195074480 |
| **Life sciences tools and services – 0.8%** | **Life sciences tools and services – 0.8%** |  |
| Agilent Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;59894 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7068091 |
| Bio-Techne Corp. | &nbsp;&nbsp;&nbsp;&nbsp;33121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1704075 |
| Charles River Laboratories International, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;10659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1617290 |
| Danaher Corp. | &nbsp;&nbsp;133046 | &nbsp;&nbsp;&nbsp;&nbsp;26281907 |
| IQVIA Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;34684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5465852 |
| Mettler-Toledo International, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;4399 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5167593 |
| Revvity, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;25369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2453690 |
| Thermo Fisher Scientific, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;78337 | &nbsp;&nbsp;&nbsp;&nbsp;31762520 |
| Waters Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;12377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4320068 |
| West Pharmaceutical Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;15097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3303224 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;89144310 |
| **Pharmaceuticals – 2.8%** | **Pharmaceuticals – 2.8%** |  |
| Bristol-Myers Squibb Company | &nbsp;&nbsp;422779 | &nbsp;&nbsp;&nbsp;&nbsp;19570440 |
| Eli Lilly & Company | &nbsp;&nbsp;164008 | &nbsp;&nbsp;&nbsp;&nbsp;127849156 |
| Johnson & Johnson | &nbsp;&nbsp;504152 | &nbsp;&nbsp;&nbsp;&nbsp;77009218 |
| Merck & Company, Inc. | &nbsp;&nbsp;527310 | &nbsp;&nbsp;&nbsp;&nbsp;41741860 |
| Pfizer, Inc. | 1181300 | &nbsp;&nbsp;&nbsp;&nbsp;28634712 |
| Viatris, Inc. | &nbsp;&nbsp;248808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2221855 |
| Zoetis, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;92824 | &nbsp;&nbsp;&nbsp;&nbsp;14475903 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;311503144 |
|  |  | 1021494073 |
| **Industrials – 8.3%** |  |  |
| **Aerospace and defense – 2.1%** | **Aerospace and defense – 2.1%** |  |
| Axon Enterprise, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;15101 | &nbsp;&nbsp;&nbsp;&nbsp;12502722 |
| General Dynamics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;52658 | &nbsp;&nbsp;&nbsp;&nbsp;15358232 |
| General Electric Company | &nbsp;&nbsp;223361 | &nbsp;&nbsp;&nbsp;&nbsp;57490888 |
| Howmet Aerospace, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;84686 | &nbsp;&nbsp;&nbsp;&nbsp;15762605 |
| Huntington Ingalls Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;8157 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1969589 |
| L3Harris Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;39537 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9917461 |
| Lockheed Martin Corp. | &nbsp;&nbsp;&nbsp;&nbsp;43499 | &nbsp;&nbsp;&nbsp;&nbsp;20146127 |
| Northrop Grumman Corp. | &nbsp;&nbsp;&nbsp;&nbsp;28141 | &nbsp;&nbsp;&nbsp;&nbsp;14069937 |
| RTX Corp. | &nbsp;&nbsp;277454 | &nbsp;&nbsp;&nbsp;&nbsp;40513833 |
| Textron, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;38670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3104814 |
| The Boeing Company (A) | &nbsp;&nbsp;158506 | &nbsp;&nbsp;&nbsp;&nbsp;33211762 |
| TransDigm Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11721 | &nbsp;&nbsp;&nbsp;&nbsp;17823421 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;241871391 |
| **Air freight and logistics – 0.3%** | **Air freight and logistics – 0.3%** |  |
| CH Robinson Worldwide, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;24640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2364208 |
| Expeditors International of Washington, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;29178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3333587 |
| FedEx Corp. | &nbsp;&nbsp;&nbsp;&nbsp;46045 | &nbsp;&nbsp;&nbsp;&nbsp;10466489 |
| United Parcel Service, Inc., Class B | &nbsp;&nbsp;152456 | &nbsp;&nbsp;&nbsp;&nbsp;15388909 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;31553193 |
| **Building products – 0.5%** | **Building products – 0.5%** |  |
| A.O. Smith Corp. | &nbsp;&nbsp;&nbsp;&nbsp;24829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1628038 |
| Allegion PLC | &nbsp;&nbsp;&nbsp;&nbsp;18121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2611599 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>5</sub>

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### 500 Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Building products (continued)** | **Building products (continued)** |  |
| Builders FirstSource, Inc. (A) | &nbsp;&nbsp;23990 | $&nbsp;&nbsp;&nbsp;&nbsp;2799393 |
| Carrier Global Corp. | 167695 | &nbsp;&nbsp;&nbsp;12273597 |
| Johnson Controls International PLC | 136833 | &nbsp;&nbsp;&nbsp;14452301 |
| Lennox International, Inc. | &nbsp;&nbsp;&nbsp;6683 | &nbsp;&nbsp;&nbsp;&nbsp;3830963 |
| Masco Corp. | &nbsp;&nbsp;44974 | &nbsp;&nbsp;&nbsp;&nbsp;2894527 |
| Trane Technologies PLC | &nbsp;&nbsp;46907 | &nbsp;&nbsp;&nbsp;20517591 |
|  |  | &nbsp;&nbsp;&nbsp;61008009 |
| **Commercial services and supplies – 0.5%** | **Commercial services and supplies – 0.5%** |  |
| Cintas Corp. | &nbsp;&nbsp;71459 | &nbsp;&nbsp;&nbsp;15926067 |
| Copart, Inc. (A) | 182744 | &nbsp;&nbsp;&nbsp;&nbsp;8967248 |
| Republic Services, Inc. | &nbsp;&nbsp;42430 | &nbsp;&nbsp;&nbsp;10463662 |
| Rollins, Inc. | &nbsp;&nbsp;58554 | &nbsp;&nbsp;&nbsp;&nbsp;3303617 |
| Veralto Corp. | &nbsp;&nbsp;51552 | &nbsp;&nbsp;&nbsp;&nbsp;5204174 |
| Waste Management, Inc. | &nbsp;&nbsp;76136 | &nbsp;&nbsp;&nbsp;17421440 |
|  |  | &nbsp;&nbsp;&nbsp;61286208 |
| **Construction and engineering – 0.1%** | **Construction and engineering – 0.1%** |  |
| Quanta Services, Inc. | &nbsp;&nbsp;30770 | &nbsp;&nbsp;&nbsp;11633522 |
| **Electrical equipment – 0.9%** | **Electrical equipment – 0.9%** |  |
| AMETEK, Inc. | &nbsp;&nbsp;48217 | &nbsp;&nbsp;&nbsp;&nbsp;8725348 |
| Eaton Corp. PLC | &nbsp;&nbsp;80803 | &nbsp;&nbsp;&nbsp;28845863 |
| Emerson Electric Company | 117078 | &nbsp;&nbsp;&nbsp;15610010 |
| GE Vernova, Inc. | &nbsp;&nbsp;57461 | &nbsp;&nbsp;&nbsp;30405488 |
| Generac Holdings, Inc. (A) | &nbsp;&nbsp;12402 | &nbsp;&nbsp;&nbsp;&nbsp;1776090 |
| Hubbell, Inc. | &nbsp;&nbsp;11189 | &nbsp;&nbsp;&nbsp;&nbsp;4569699 |
| Rockwell Automation, Inc. | &nbsp;&nbsp;23534 | &nbsp;&nbsp;&nbsp;&nbsp;7817289 |
|  |  | &nbsp;&nbsp;&nbsp;97749787 |
| **Ground transportation – 0.9%** | **Ground transportation – 0.9%** |  |
| CSX Corp. | 385599 | &nbsp;&nbsp;&nbsp;12582095 |
| JB Hunt Transport Services, Inc. | &nbsp;&nbsp;16604 | &nbsp;&nbsp;&nbsp;&nbsp;2384334 |
| Norfolk Southern Corp. | &nbsp;&nbsp;47160 | &nbsp;&nbsp;&nbsp;12071545 |
| Old Dominion Freight Line, Inc. | &nbsp;&nbsp;39164 | &nbsp;&nbsp;&nbsp;&nbsp;6356317 |
| Uber Technologies, Inc. (A) | 434866 | &nbsp;&nbsp;&nbsp;40572998 |
| Union Pacific Corp. | 125529 | &nbsp;&nbsp;&nbsp;28881712 |
|  |  | 102849001 |
| **Industrial conglomerates – 0.4%** | **Industrial conglomerates – 0.4%** |  |
| 3M Company | 113515 | &nbsp;&nbsp;&nbsp;17281524 |
| Honeywell International, Inc. | 133165 | &nbsp;&nbsp;&nbsp;31011465 |
|  |  | &nbsp;&nbsp;&nbsp;48292989 |
| **Machinery – 1.5%** | **Machinery – 1.5%** |  |
| Caterpillar, Inc. | &nbsp;&nbsp;97959 | &nbsp;&nbsp;&nbsp;38028663 |
| Cummins, Inc. | &nbsp;&nbsp;28596 | &nbsp;&nbsp;&nbsp;&nbsp;9365190 |
| Deere & Company | &nbsp;&nbsp;52622 | &nbsp;&nbsp;&nbsp;26757761 |
| Dover Corp. | &nbsp;&nbsp;28598 | &nbsp;&nbsp;&nbsp;&nbsp;5240012 |
| Fortive Corp. | &nbsp;&nbsp;69661 | &nbsp;&nbsp;&nbsp;&nbsp;3631428 |
| IDEX Corp. | &nbsp;&nbsp;15785 | &nbsp;&nbsp;&nbsp;&nbsp;2771372 |
| Illinois Tool Works, Inc. | &nbsp;&nbsp;55234 | &nbsp;&nbsp;&nbsp;13656607 |
| Ingersoll Rand, Inc. | &nbsp;&nbsp;84009 | &nbsp;&nbsp;&nbsp;&nbsp;6987869 |
| Nordson Corp. | &nbsp;&nbsp;11324 | &nbsp;&nbsp;&nbsp;&nbsp;2427526 |
| Otis Worldwide Corp. | &nbsp;&nbsp;81320 | &nbsp;&nbsp;&nbsp;&nbsp;8052306 |
| PACCAR, Inc. | 109292 | &nbsp;&nbsp;&nbsp;10389298 |
| Parker-Hannifin Corp. | &nbsp;&nbsp;26832 | &nbsp;&nbsp;&nbsp;18741347 |
| Pentair PLC | &nbsp;&nbsp;34443 | &nbsp;&nbsp;&nbsp;&nbsp;3535918 |
| Snap-on, Inc. | &nbsp;&nbsp;10945 | &nbsp;&nbsp;&nbsp;&nbsp;3405865 |
| Stanley Black & Decker, Inc. | &nbsp;&nbsp;32136 | &nbsp;&nbsp;&nbsp;&nbsp;2177214 |
| Wabtec Corp. | &nbsp;&nbsp;35831 | &nbsp;&nbsp;&nbsp;&nbsp;7501220 |
| Xylem, Inc. | &nbsp;&nbsp;50643 | &nbsp;&nbsp;&nbsp;&nbsp;6551178 |
|  |  | 169220774 |
| **Passenger airlines – 0.2%** | **Passenger airlines – 0.2%** |  |
| Delta Air Lines, Inc. | 133642 | &nbsp;&nbsp;&nbsp;&nbsp;6572514 |
| Southwest Airlines Company | 125017 | &nbsp;&nbsp;&nbsp;&nbsp;4055551 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Passenger airlines (continued)** | **Passenger airlines (continued)** |  |
| United Airlines Holdings, Inc. (A) | &nbsp;&nbsp;68555 | $&nbsp;&nbsp;&nbsp;&nbsp;5459035 |
|  |  | &nbsp;&nbsp;&nbsp;16087100 |
| **Professional services – 0.6%** | **Professional services – 0.6%** |  |
| Automatic Data Processing, Inc. | &nbsp;&nbsp;84935 | &nbsp;&nbsp;&nbsp;26193954 |
| Broadridge Financial Solutions, Inc. | &nbsp;&nbsp;24366 | &nbsp;&nbsp;&nbsp;&nbsp;5921669 |
| Dayforce, Inc. (A) | &nbsp;&nbsp;32873 | &nbsp;&nbsp;&nbsp;&nbsp;1820835 |
| Equifax, Inc. | &nbsp;&nbsp;25838 | &nbsp;&nbsp;&nbsp;&nbsp;6701602 |
| Jacobs Solutions, Inc. | &nbsp;&nbsp;25900 | &nbsp;&nbsp;&nbsp;&nbsp;3404555 |
| Leidos Holdings, Inc. | &nbsp;&nbsp;27814 | &nbsp;&nbsp;&nbsp;&nbsp;4387937 |
| Paychex, Inc. | &nbsp;&nbsp;66769 | &nbsp;&nbsp;&nbsp;&nbsp;9712219 |
| Paycom Software, Inc. | &nbsp;&nbsp;&nbsp;9214 | &nbsp;&nbsp;&nbsp;&nbsp;2132120 |
| Verisk Analytics, Inc. | &nbsp;&nbsp;29436 | &nbsp;&nbsp;&nbsp;&nbsp;9169314 |
|  |  | &nbsp;&nbsp;&nbsp;69444205 |
| **Trading companies and distributors – 0.3%** | **Trading companies and distributors – 0.3%** |  |
| Fastenal Company | 238840 | &nbsp;&nbsp;&nbsp;10031280 |
| United Rentals, Inc. | &nbsp;&nbsp;13679 | &nbsp;&nbsp;&nbsp;10305759 |
| W.W. Grainger, Inc. | &nbsp;&nbsp;&nbsp;9238 | &nbsp;&nbsp;&nbsp;&nbsp;9609737 |
|  |  | &nbsp;&nbsp;&nbsp;29946776 |
|  |  | 940942955 |
| **Information technology – 32.1%** |  |  |
| **Communications equipment – 0.9%** | **Communications equipment – 0.9%** |  |
| Arista Networks, Inc. (A) | 215332 | &nbsp;&nbsp;&nbsp;22030617 |
| Cisco Systems, Inc. | 827620 | &nbsp;&nbsp;&nbsp;57420276 |
| F5, Inc. (A) | &nbsp;&nbsp;12110 | &nbsp;&nbsp;&nbsp;&nbsp;3564215 |
| Juniper Networks, Inc. | &nbsp;&nbsp;69016 | &nbsp;&nbsp;&nbsp;&nbsp;2755809 |
| Motorola Solutions, Inc. | &nbsp;&nbsp;34837 | &nbsp;&nbsp;&nbsp;14647565 |
|  |  | 100418482 |
| **Electronic equipment, instruments and components – 0.6%** | **Electronic equipment, instruments and components – 0.6%** |  |
| Amphenol Corp., Class A | 251313 | &nbsp;&nbsp;&nbsp;24817159 |
| CDW Corp. | &nbsp;&nbsp;27779 | &nbsp;&nbsp;&nbsp;&nbsp;4961052 |
| Corning, Inc. | 160631 | &nbsp;&nbsp;&nbsp;&nbsp;8447584 |
| Jabil, Inc. | &nbsp;&nbsp;22086 | &nbsp;&nbsp;&nbsp;&nbsp;4816957 |
| Keysight Technologies, Inc. (A) | &nbsp;&nbsp;36176 | &nbsp;&nbsp;&nbsp;&nbsp;5927799 |
| Ralliant Corp. (A) | &nbsp;&nbsp;23220 | &nbsp;&nbsp;&nbsp;&nbsp;1125954 |
| TE Connectivity PLC | &nbsp;&nbsp;62361 | &nbsp;&nbsp;&nbsp;10518430 |
| Teledyne Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;9714 | &nbsp;&nbsp;&nbsp;&nbsp;4976579 |
| Trimble, Inc. (A) | &nbsp;&nbsp;50906 | &nbsp;&nbsp;&nbsp;&nbsp;3867838 |
| Zebra Technologies Corp., Class A (A) | &nbsp;&nbsp;10752 | &nbsp;&nbsp;&nbsp;&nbsp;3315487 |
|  |  | &nbsp;&nbsp;&nbsp;72774839 |
| **IT services – 1.1%** | **IT services – 1.1%** |  |
| Accenture PLC, Class A | 130253 | &nbsp;&nbsp;&nbsp;38931319 |
| Akamai Technologies, Inc. (A) | &nbsp;&nbsp;31315 | &nbsp;&nbsp;&nbsp;&nbsp;2497684 |
| Cognizant Technology Solutions Corp., Class A | 103356 | &nbsp;&nbsp;&nbsp;&nbsp;8064869 |
| EPAM Systems, Inc. (A) | &nbsp;&nbsp;11824 | &nbsp;&nbsp;&nbsp;&nbsp;2090720 |
| Gartner, Inc. (A) | &nbsp;&nbsp;16079 | &nbsp;&nbsp;&nbsp;&nbsp;6499453 |
| GoDaddy, Inc., Class A (A) | &nbsp;&nbsp;29265 | &nbsp;&nbsp;&nbsp;&nbsp;5269456 |
| IBM Corp. | 194610 | &nbsp;&nbsp;&nbsp;57367136 |
| VeriSign, Inc. | &nbsp;&nbsp;17228 | &nbsp;&nbsp;&nbsp;&nbsp;4975446 |
|  |  | 125696083 |
| **Semiconductors and semiconductor equipment – 12.4%** | **Semiconductors and semiconductor equipment – 12.4%** |  |
| Advanced Micro Devices, Inc. (A) | 338279 | &nbsp;&nbsp;&nbsp;48001790 |
| Analog Devices, Inc. | 103495 | &nbsp;&nbsp;&nbsp;24633880 |
| Applied Materials, Inc. | 168759 | &nbsp;&nbsp;&nbsp;30894710 |
| Broadcom, Inc. | 981878 | 270654671 |
| Enphase Energy, Inc. (A) | &nbsp;&nbsp;28163 | &nbsp;&nbsp;&nbsp;&nbsp;1116663 |
| First Solar, Inc. (A) | &nbsp;&nbsp;22317 | &nbsp;&nbsp;&nbsp;&nbsp;3694356 |
| Intel Corp. | 899057 | &nbsp;&nbsp;&nbsp;20138877 |
| KLA Corp. | &nbsp;&nbsp;27604 | &nbsp;&nbsp;&nbsp;24726007 |
| Lam Research Corp. | 268213 | &nbsp;&nbsp;&nbsp;26107853 |
| Microchip Technology, Inc. | 111941 | &nbsp;&nbsp;&nbsp;&nbsp;7877288 |
| Micron Technology, Inc. | 231121 | &nbsp;&nbsp;&nbsp;28485663 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>6</sub>

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### 500 Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Semiconductors and semiconductor equipment (continued)** | **Semiconductors and semiconductor equipment (continued)** |  |
| Monolithic Power Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;9850 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7204093 |
| NVIDIA Corp. | 5092230 | &nbsp;&nbsp;&nbsp;&nbsp;804521419 |
| NXP Semiconductors NV | &nbsp;&nbsp;&nbsp;&nbsp;52980 | &nbsp;&nbsp;&nbsp;&nbsp;11575600 |
| ON Semiconductor Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;88759 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4651859 |
| Qualcomm, Inc. | &nbsp;&nbsp;230177 | &nbsp;&nbsp;&nbsp;&nbsp;36657989 |
| Skyworks Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;33293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2480994 |
| Teradyne, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;33949 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3052694 |
| Texas Instruments, Inc. | &nbsp;&nbsp;190154 | &nbsp;&nbsp;&nbsp;&nbsp;39479773 |
|  |  | 1395956179 |
| **Software – 11.1%** | **Software – 11.1%** |  |
| Adobe, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;88942 | &nbsp;&nbsp;&nbsp;&nbsp;34409881 |
| ANSYS, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;18229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6402389 |
| Autodesk, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;44817 | &nbsp;&nbsp;&nbsp;&nbsp;13873999 |
| Cadence Design Systems, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;57171 | &nbsp;&nbsp;&nbsp;&nbsp;17617244 |
| Crowdstrike Holdings, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;52330 | &nbsp;&nbsp;&nbsp;&nbsp;26652192 |
| Fair Isaac Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;5075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9276897 |
| Fortinet, Inc. (A) | &nbsp;&nbsp;132608 | &nbsp;&nbsp;&nbsp;&nbsp;14019318 |
| Gen Digital, Inc. | &nbsp;&nbsp;113036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3323258 |
| Intuit, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;58428 | &nbsp;&nbsp;&nbsp;&nbsp;46019646 |
| Microsoft Corp. | 1551977 | &nbsp;&nbsp;&nbsp;&nbsp;771968880 |
| Oracle Corp. | &nbsp;&nbsp;340243 | &nbsp;&nbsp;&nbsp;&nbsp;74387327 |
| Palantir Technologies, Inc., Class A (A) | &nbsp;&nbsp;444322 | &nbsp;&nbsp;&nbsp;&nbsp;60569975 |
| Palo Alto Networks, Inc. (A) | &nbsp;&nbsp;137773 | &nbsp;&nbsp;&nbsp;&nbsp;28193867 |
| PTC, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;25041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4315566 |
| Roper Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;22352 | &nbsp;&nbsp;&nbsp;&nbsp;12670008 |
| Salesforce, Inc. | &nbsp;&nbsp;199281 | &nbsp;&nbsp;&nbsp;&nbsp;54341936 |
| ServiceNow, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;43479 | &nbsp;&nbsp;&nbsp;&nbsp;44699890 |
| Synopsys, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;32021 | &nbsp;&nbsp;&nbsp;&nbsp;16416526 |
| Tyler Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;8922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5289318 |
| Workday, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;44400 | &nbsp;&nbsp;&nbsp;&nbsp;10656000 |
|  |  | 1255104117 |
| **Technology hardware, storage and peripherals – 6.0%** | **Technology hardware, storage and peripherals – 6.0%** |  |
| Apple, Inc. | 3118509 | &nbsp;&nbsp;&nbsp;&nbsp;639824492 |
| Dell Technologies, Inc., Class C | &nbsp;&nbsp;&nbsp;&nbsp;64029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7849955 |
| Hewlett Packard Enterprise Company | &nbsp;&nbsp;270711 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5536040 |
| HP, Inc. | &nbsp;&nbsp;193926 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4743430 |
| NetApp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;42688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4548406 |
| Seagate Technology Holdings PLC | &nbsp;&nbsp;&nbsp;&nbsp;44094 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6364087 |
| Super Micro Computer, Inc. (A) | &nbsp;&nbsp;104974 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5144776 |
| Western Digital Corp. | &nbsp;&nbsp;&nbsp;&nbsp;72064 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4611375 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;678622561 |
|  |  | 3628572261 |
| **Materials – 1.8%** |  |  |
| **Chemicals – 1.2%** | **Chemicals – 1.2%** |  |
| Air Products & Chemicals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;46342 | &nbsp;&nbsp;&nbsp;&nbsp;13071225 |
| Albemarle Corp. | &nbsp;&nbsp;&nbsp;&nbsp;24502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1535540 |
| CF Industries Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;36275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3337300 |
| Corteva, Inc. | &nbsp;&nbsp;143268 | &nbsp;&nbsp;&nbsp;&nbsp;10677764 |
| Dow, Inc. | &nbsp;&nbsp;145936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3864385 |
| DuPont de Nemours, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;87124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5975835 |
| Eastman Chemical Company | &nbsp;&nbsp;&nbsp;&nbsp;24162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1803935 |
| Ecolab, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;52533 | &nbsp;&nbsp;&nbsp;&nbsp;14154492 |
| International Flavors & Fragrances, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;53298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3920068 |
| Linde PLC | &nbsp;&nbsp;&nbsp;&nbsp;97979 | &nbsp;&nbsp;&nbsp;&nbsp;45969787 |
| LyondellBasell Industries NV, Class A | &nbsp;&nbsp;&nbsp;&nbsp;54157 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3133524 |
| PPG Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;48361 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5501064 |
| The Mosaic Company | &nbsp;&nbsp;&nbsp;&nbsp;66214 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2415487 |
| The Sherwin-Williams Company | &nbsp;&nbsp;&nbsp;&nbsp;48299 | &nbsp;&nbsp;&nbsp;&nbsp;16583945 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;131944351 |
| **Construction materials – 0.1%** | **Construction materials – 0.1%** |  |
| Martin Marietta Materials, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6993750 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Construction materials (continued)** | **Construction materials (continued)** |  |
| Vulcan Materials Company | &nbsp;&nbsp;27528 | $&nbsp;&nbsp;&nbsp;&nbsp;7179853 |
|  |  | &nbsp;&nbsp;&nbsp;14173603 |
| **Containers and packaging – 0.2%** | **Containers and packaging – 0.2%** |  |
| Amcor PLC | 480100 | &nbsp;&nbsp;&nbsp;&nbsp;4412119 |
| Avery Dennison Corp. | &nbsp;&nbsp;16748 | &nbsp;&nbsp;&nbsp;&nbsp;2938772 |
| Ball Corp. | &nbsp;&nbsp;52746 | &nbsp;&nbsp;&nbsp;&nbsp;2958523 |
| International Paper Company | 109197 | &nbsp;&nbsp;&nbsp;&nbsp;5113696 |
| Packaging Corp. of America | &nbsp;&nbsp;18588 | &nbsp;&nbsp;&nbsp;&nbsp;3502909 |
| Smurfit WestRock PLC | 103007 | &nbsp;&nbsp;&nbsp;&nbsp;4444752 |
|  |  | &nbsp;&nbsp;&nbsp;23370771 |
| **Metals and mining – 0.3%** | **Metals and mining – 0.3%** |  |
| Freeport-McMoRan, Inc. | 299531 | &nbsp;&nbsp;&nbsp;12984669 |
| Newmont Corp. | 237313 | &nbsp;&nbsp;&nbsp;13825855 |
| Nucor Corp. | &nbsp;&nbsp;48947 | &nbsp;&nbsp;&nbsp;&nbsp;6340594 |
| Steel Dynamics, Inc. | &nbsp;&nbsp;29514 | &nbsp;&nbsp;&nbsp;&nbsp;3778087 |
|  |  | &nbsp;&nbsp;&nbsp;36929205 |
|  |  | 206417930 |
| **Real estate – 2.0%** |  |  |
| **Health care REITs – 0.3%** | **Health care REITs – 0.3%** |  |
| Alexandria Real Estate Equities, Inc. | &nbsp;&nbsp;32422 | &nbsp;&nbsp;&nbsp;&nbsp;2354810 |
| Healthpeak Properties, Inc. | 145801 | &nbsp;&nbsp;&nbsp;&nbsp;2552976 |
| Ventas, Inc. | &nbsp;&nbsp;90693 | &nbsp;&nbsp;&nbsp;&nbsp;5727263 |
| Welltower, Inc. | 131146 | &nbsp;&nbsp;&nbsp;20161075 |
|  |  | &nbsp;&nbsp;&nbsp;30796124 |
| **Hotel and resort REITs – 0.0%** | **Hotel and resort REITs – 0.0%** |  |
| Host Hotels & Resorts, Inc. | 145714 | &nbsp;&nbsp;&nbsp;&nbsp;2238167 |
| **Industrial REITs – 0.2%** | **Industrial REITs – 0.2%** |  |
| Prologis, Inc. | 193064 | &nbsp;&nbsp;&nbsp;20294888 |
| **Office REITs – 0.0%** | **Office REITs – 0.0%** |  |
| BXP, Inc. | &nbsp;&nbsp;30322 | &nbsp;&nbsp;&nbsp;&nbsp;2045825 |
| **Real estate management and development – 0.1%** | **Real estate management and development – 0.1%** |  |
| CBRE Group, Inc., Class A (A) | &nbsp;&nbsp;61146 | &nbsp;&nbsp;&nbsp;&nbsp;8567778 |
| CoStar Group, Inc. (A) | &nbsp;&nbsp;87979 | &nbsp;&nbsp;&nbsp;&nbsp;7073512 |
|  |  | &nbsp;&nbsp;&nbsp;15641290 |
| **Residential REITs – 0.2%** | **Residential REITs – 0.2%** |  |
| AvalonBay Communities, Inc. | &nbsp;&nbsp;29611 | &nbsp;&nbsp;&nbsp;&nbsp;6025839 |
| Camden Property Trust | &nbsp;&nbsp;22238 | &nbsp;&nbsp;&nbsp;&nbsp;2506000 |
| Equity Residential | &nbsp;&nbsp;71170 | &nbsp;&nbsp;&nbsp;&nbsp;4803263 |
| Essex Property Trust, Inc. | &nbsp;&nbsp;13397 | &nbsp;&nbsp;&nbsp;&nbsp;3796710 |
| Invitation Homes, Inc. | 118760 | &nbsp;&nbsp;&nbsp;&nbsp;3895328 |
| Mid-America Apartment Communities, Inc. | &nbsp;&nbsp;24364 | &nbsp;&nbsp;&nbsp;&nbsp;3606116 |
| UDR, Inc. | &nbsp;&nbsp;62591 | &nbsp;&nbsp;&nbsp;&nbsp;2555591 |
|  |  | &nbsp;&nbsp;&nbsp;27188847 |
| **Retail REITs – 0.3%** | **Retail REITs – 0.3%** |  |
| Federal Realty Investment Trust | &nbsp;&nbsp;15940 | &nbsp;&nbsp;&nbsp;&nbsp;1514141 |
| Kimco Realty Corp. | 140515 | &nbsp;&nbsp;&nbsp;&nbsp;2953625 |
| Realty Income Corp. | 191614 | &nbsp;&nbsp;&nbsp;11038883 |
| Regency Centers Corp. | &nbsp;&nbsp;34052 | &nbsp;&nbsp;&nbsp;&nbsp;2425524 |
| Simon Property Group, Inc. | &nbsp;&nbsp;63931 | &nbsp;&nbsp;&nbsp;10277548 |
|  |  | &nbsp;&nbsp;&nbsp;28209721 |
| **Specialized REITs – 0.9%** | **Specialized REITs – 0.9%** |  |
| American Tower Corp. | &nbsp;&nbsp;97408 | &nbsp;&nbsp;&nbsp;21529116 |
| Crown Castle, Inc. | &nbsp;&nbsp;90593 | &nbsp;&nbsp;&nbsp;&nbsp;9306619 |
| Digital Realty Trust, Inc. | &nbsp;&nbsp;66324 | &nbsp;&nbsp;&nbsp;11562263 |
| Equinix, Inc. | &nbsp;&nbsp;20709 | &nbsp;&nbsp;&nbsp;16473388 |
| Extra Space Storage, Inc. | &nbsp;&nbsp;44189 | &nbsp;&nbsp;&nbsp;&nbsp;6515226 |
| Iron Mountain, Inc. | &nbsp;&nbsp;61173 | &nbsp;&nbsp;&nbsp;&nbsp;6274515 |
| Public Storage | &nbsp;&nbsp;32852 | &nbsp;&nbsp;&nbsp;&nbsp;9639434 |
| SBA Communications Corp. | &nbsp;&nbsp;22413 | &nbsp;&nbsp;&nbsp;&nbsp;5263469 |
| VICI Properties, Inc. | 219745 | &nbsp;&nbsp;&nbsp;&nbsp;7163687 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>7</sub>

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### 500 Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Specialized REITs (continued)** | **Specialized REITs (continued)** |  |
| Weyerhaeuser Company | 151457 | $&nbsp;&nbsp;&nbsp;&nbsp;3890930 |
|  |  | &nbsp;&nbsp;&nbsp;97618647 |
|  |  | 224033509 |
| **Utilities – 2.3%** |  |  |
| **Electric utilities – 1.5%** | **Electric utilities – 1.5%** |  |
| Alliant Energy Corp. | &nbsp;&nbsp;53489 | &nbsp;&nbsp;&nbsp;&nbsp;3234480 |
| American Electric Power Company, Inc. | 111014 | &nbsp;&nbsp;&nbsp;11518813 |
| Constellation Energy Corp. | &nbsp;&nbsp;65197 | &nbsp;&nbsp;&nbsp;21042984 |
| Duke Energy Corp. | 161026 | &nbsp;&nbsp;&nbsp;19001068 |
| Edison International | &nbsp;&nbsp;80702 | &nbsp;&nbsp;&nbsp;&nbsp;4164223 |
| Entergy Corp. | &nbsp;&nbsp;95916 | &nbsp;&nbsp;&nbsp;&nbsp;7972538 |
| Evergy, Inc. | &nbsp;&nbsp;47939 | &nbsp;&nbsp;&nbsp;&nbsp;3304435 |
| Eversource Energy | &nbsp;&nbsp;76377 | &nbsp;&nbsp;&nbsp;&nbsp;4859105 |
| Exelon Corp. | 209461 | &nbsp;&nbsp;&nbsp;&nbsp;9094797 |
| FirstEnergy Corp. | 106922 | &nbsp;&nbsp;&nbsp;&nbsp;4304680 |
| NextEra Energy, Inc. | 428663 | &nbsp;&nbsp;&nbsp;29757785 |
| NRG Energy, Inc. | &nbsp;&nbsp;42225 | &nbsp;&nbsp;&nbsp;&nbsp;6780491 |
| PG&E Corp. | 455719 | &nbsp;&nbsp;&nbsp;&nbsp;6352723 |
| Pinnacle West Capital Corp. | &nbsp;&nbsp;23701 | &nbsp;&nbsp;&nbsp;&nbsp;2120528 |
| PPL Corp. | 153832 | &nbsp;&nbsp;&nbsp;&nbsp;5213366 |
| The Southern Company | 234358 | &nbsp;&nbsp;&nbsp;21521095 |
| Xcel Energy, Inc. | 119702 | &nbsp;&nbsp;&nbsp;&nbsp;8151706 |
|  |  | 168394817 |
| **Gas utilities – 0.0%** | **Gas utilities – 0.0%** |  |
| Atmos Energy Corp. | &nbsp;&nbsp;32359 | &nbsp;&nbsp;&nbsp;&nbsp;4986845 |
| **Independent power and renewable electricity producers –<br> 0.1%** | **Independent power and renewable electricity producers –<br> 0.1%** |  |
| The AES Corp. | 148216 | &nbsp;&nbsp;&nbsp;&nbsp;1559232 |
| Vistra Corp. | &nbsp;&nbsp;70921 | &nbsp;&nbsp;&nbsp;13745199 |
|  |  | &nbsp;&nbsp;&nbsp;15304431 |
| **Multi-utilities – 0.6%** | **Multi-utilities – 0.6%** |  |
| Ameren Corp. | &nbsp;&nbsp;55642 | &nbsp;&nbsp;&nbsp;&nbsp;5343858 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Multi-utilities (continued)** | **Multi-utilities (continued)** |  |
| CenterPoint Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;135853 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4991239 |
| CMS Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;62283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4314966 |
| Consolidated Edison, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;77477 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7774817 |
| Dominion Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;175103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9896822 |
| DTE Energy Company | &nbsp;&nbsp;&nbsp;&nbsp;43171 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5718431 |
| NiSource, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;97301 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3925122 |
| Public Service Enterprise Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;103856 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8742598 |
| Sempra | &nbsp;&nbsp;&nbsp;&nbsp;139135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10542259 |
| WEC Energy Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;65945 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6871469 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68121581 |
| **Water utilities – 0.1%** | **Water utilities – 0.1%** |  |
| American Water Works Company, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;40626 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5651483 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;262459157 |
| TOTAL COMMON STOCKS (Cost $3,465,876,157) | TOTAL COMMON STOCKS (Cost $3,465,876,157) | $10960366402 |
| **SHORT-TERM INVESTMENTS – 2.6%** | **SHORT-TERM INVESTMENTS – 2.6%** |  |
| **Short-term funds – 2.6%** |  |  |
| John Hancock Collateral Trust, 4.2596% (C)(D) | 29263709 | &nbsp;&nbsp;&nbsp;&nbsp;292707323 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $292,714,490) | TOTAL SHORT-TERM INVESTMENTS (Cost $292,714,490) | $&nbsp;&nbsp;&nbsp;&nbsp;292707323 |
| **Total Investments (500 Index Trust)<br> (Cost $3,758,590,647) – 99.6%** | **Total Investments (500 Index Trust)<br> (Cost $3,758,590,647) – 99.6%** | $**11253073725** |
| **Other assets and liabilities, net – 0.4%** | **Other assets and liabilities, net – 0.4%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**47757518** |
| **TOTAL NET ASSETS – 100.0%** | **TOTAL NET ASSETS – 100.0%** | $**11300831243** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| (A) | Non-income producing security. |
| (B) | All or a portion of this security is on loan as of 6-30-25. |
| (C) | The rate shown is the annualized seven-day yield as of 6-30-25. |
| (D) | Investment is an affiliate of the fund, the advisor and/or subadvisor. A portion of this security represents the investment of cash collateral received for securities lending. Market value of this investment amounted to $1,309,810. |

---

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| S&P 500 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;1128 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;$344127512 | &nbsp;&nbsp;&nbsp;&nbsp;$352711500 | &nbsp;&nbsp;&nbsp;&nbsp;$8583988 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$8583988** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

See Notes to financial statements regarding investment transactions and other derivatives information.

#### American Asset Allocation Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **INVESTMENT COMPANIES - 100.0%** | **INVESTMENT COMPANIES - 100.0%** |  |
| **American Funds Insurance Series - 100.0%** | **American Funds Insurance Series - 100.0%** |  |
| American Asset Allocation Fund - Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;46389266 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1209368178 |
| TOTAL INVESTMENT COMPANIES (Cost $1,072,602,818) | TOTAL INVESTMENT COMPANIES (Cost $1,072,602,818) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1209368178 |
| **Total Investments (American Asset Allocation Trust) (Cost $1,072,602,818) - 100.0%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1209368178** |
| **Other assets and liabilities, net - (0.0%)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(35774)** |
| **TOTAL NET ASSETS - 100.0%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1209332404** |

---

#### American Global Growth Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **INVESTMENT COMPANIES - 100.0%** | **INVESTMENT COMPANIES - 100.0%** |  |
| **American Funds Insurance Series - 100.0%** | **American Funds Insurance Series - 100.0%** |  |
| American Global Growth Fund - Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5596101 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200508297 |
| TOTAL INVESTMENT COMPANIES (Cost $182,931,056) | TOTAL INVESTMENT COMPANIES (Cost $182,931,056) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200508297 |
| **Total Investments (American Global Growth Trust) (Cost $182,931,056) - 100.0%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**200508297** |
| **Other assets and liabilities, net - (0.0%)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(24830)** |
| **TOTAL NET ASSETS - 100.0%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**200483467** |

---

**The accompanying notes are an integral part of the financial statements.** <sub>8</sub>

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### American Growth Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **INVESTMENT COMPANIES - 100.0%** | **INVESTMENT COMPANIES - 100.0%** |  |
| **American Funds Insurance Series - 100.0%** | **American Funds Insurance Series - 100.0%** |  |
| American Growth Fund - Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8243644 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1064172000 |
| TOTAL INVESTMENT COMPANIES (Cost $755,350,698) | TOTAL INVESTMENT COMPANIES (Cost $755,350,698) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1064172000 |
| **Total Investments (American Growth Trust) (Cost $755,350,698) - 100.0%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1064172000** |
| **Other assets and liabilities, net - (0.0%)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(37555)** |
| **TOTAL NET ASSETS - 100.0%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1064134445** |

---

#### American Growth-Income Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **INVESTMENT COMPANIES - 100.0%** | **INVESTMENT COMPANIES - 100.0%** |  |
| **American Funds Insurance Series - 100.0%** | **American Funds Insurance Series - 100.0%** |  |
| American Growth-Income Fund - Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;15656813 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;976985134 |
| TOTAL INVESTMENT COMPANIES (Cost $817,840,678) | TOTAL INVESTMENT COMPANIES (Cost $817,840,678) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;976985134 |
| **Total Investments (American Growth-Income Trust) (Cost $817,840,678) - 100.0%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**976985134** |
| **Other assets and liabilities, net - (0.0%)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(36492)** |
| **TOTAL NET ASSETS - 100.0%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**976948642** |

---

#### American International Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **INVESTMENT COMPANIES - 100.0%** | **INVESTMENT COMPANIES - 100.0%** |  |
| **American Funds Insurance Series - 100.0%** | **American Funds Insurance Series - 100.0%** |  |
| American International Fund - Class 1 (A) | &nbsp;&nbsp;&nbsp;&nbsp;18493352 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;369867044 |
| TOTAL INVESTMENT COMPANIES (Cost $345,021,764) | TOTAL INVESTMENT COMPANIES (Cost $345,021,764) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;369867044 |
| **Total Investments (American International Trust) (Cost $345,021,764) - 100.0%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**369867044** |
| **Other assets and liabilities, net - (0.0%)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(25841)** |
| **TOTAL NET ASSETS - 100.0%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**369841203** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| (A) | The fund owns 5% or more of the outstanding voting shares of the issuer and the security is considered an affiliate of the fund. For more information on this security refer to the Notes to financial statements. |

---

#### Blue Chip Growth Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS – 99.4%** | **COMMON STOCKS – 99.4%** |  |
| **Communication services – 15.7%** |  |  |
| **Entertainment – 3.4%** | **Entertainment – 3.4%** |  |
| Netflix, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46426 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62170449 |
| Sea, Ltd., ADR (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9933713 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72104162 |
| **Interactive media and services – 11.3%** | **Interactive media and services – 11.3%** |  |
| Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20382586 |
| Alphabet, Inc., Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;426058 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75578429 |
| Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141623233 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;237584248 |
| **Wireless telecommunication services – 1.0%** | **Wireless telecommunication services – 1.0%** |  |
| T-Mobile US, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21136045 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330824455 |

---

#### Blue Chip Growth Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Consumer discretionary – 15.7%** |  |  |
| **Automobiles – 2.3%** | **Automobiles – 2.3%** |  |
| Tesla, Inc. (A) | 154622 | $&nbsp;&nbsp;&nbsp;49117225 |
| **Broadline retail – 7.1%** | **Broadline retail – 7.1%** |  |
| Amazon.com, Inc. (A) | 684954 | 150272058 |
| **Hotels, restaurants and leisure – 2.4%** | **Hotels, restaurants and leisure – 2.4%** |  |
| Booking Holdings, Inc. | &nbsp;&nbsp;&nbsp;3812 | &nbsp;&nbsp;&nbsp;22068583 |
| Chipotle Mexican Grill, Inc. (A) | 298656 | &nbsp;&nbsp;&nbsp;16769534 |
| DoorDash, Inc., Class A (A) | &nbsp;&nbsp;45916 | &nbsp;&nbsp;&nbsp;11318753 |
|  |  | &nbsp;&nbsp;&nbsp;50156870 |
| **Specialty retail – 3.9%** | **Specialty retail – 3.9%** |  |
| Carvana Company (A) | 195611 | &nbsp;&nbsp;&nbsp;65913083 |
| Ross Stores, Inc. | &nbsp;&nbsp;60380 | &nbsp;&nbsp;&nbsp;&nbsp;7703280 |
| The TJX Companies, Inc. | &nbsp;&nbsp;69471 | &nbsp;&nbsp;&nbsp;&nbsp;8578974 |
|  |  | &nbsp;&nbsp;&nbsp;82195337 |
|  |  | 331741490 |
| **Consumer staples – 0.8%** |  |  |
| **Food products – 0.2%** | **Food products – 0.2%** |  |
| Mondelez International, Inc., Class A | &nbsp;&nbsp;67352 | &nbsp;&nbsp;&nbsp;&nbsp;4542219 |
| **Household products – 0.6%** | **Household products – 0.6%** |  |
| Colgate-Palmolive Company | &nbsp;&nbsp;81458 | &nbsp;&nbsp;&nbsp;&nbsp;7404532 |
| The Procter & Gamble Company | &nbsp;&nbsp;36128 | &nbsp;&nbsp;&nbsp;&nbsp;5755913 |
|  |  | &nbsp;&nbsp;&nbsp;13160445 |
|  |  | &nbsp;&nbsp;&nbsp;17702664 |
| **Energy – 0.2%** |  |  |
| **Energy equipment and services – 0.2%** | **Energy equipment and services – 0.2%** |  |
| Schlumberger, Ltd. | 100050 | &nbsp;&nbsp;&nbsp;&nbsp;3381690 |
| **Financials – 8.7%** |  |  |
| **Capital markets – 1.5%** | **Capital markets – 1.5%** |  |
| Morgan Stanley | &nbsp;&nbsp;62629 | &nbsp;&nbsp;&nbsp;&nbsp;8821921 |
| S&P Global, Inc. | &nbsp;&nbsp;13475 | &nbsp;&nbsp;&nbsp;&nbsp;7105233 |
| The Charles Schwab Corp. | &nbsp;&nbsp;83194 | &nbsp;&nbsp;&nbsp;&nbsp;7590621 |
| The Goldman Sachs Group, Inc. | &nbsp;&nbsp;11026 | &nbsp;&nbsp;&nbsp;&nbsp;7803652 |
|  |  | &nbsp;&nbsp;&nbsp;31321427 |
| **Financial services – 5.9%** | **Financial services – 5.9%** |  |
| Adyen NV (A)(B) | &nbsp;&nbsp;&nbsp;2252 | &nbsp;&nbsp;&nbsp;&nbsp;4135881 |
| Fiserv, Inc. (A) | &nbsp;&nbsp;23646 | &nbsp;&nbsp;&nbsp;&nbsp;4076807 |
| Mastercard, Inc., Class A | &nbsp;&nbsp;89183 | &nbsp;&nbsp;&nbsp;50115495 |
| Visa, Inc., Class A | 188444 | &nbsp;&nbsp;&nbsp;66907042 |
|  |  | 125235225 |
| **Insurance – 1.3%** | **Insurance – 1.3%** |  |
| Chubb, Ltd. | &nbsp;&nbsp;66879 | &nbsp;&nbsp;&nbsp;19376184 |
| Marsh & McLennan Companies, Inc. | &nbsp;&nbsp;36735 | &nbsp;&nbsp;&nbsp;&nbsp;8031740 |
|  |  | &nbsp;&nbsp;&nbsp;27407924 |
|  |  | 183964576 |
| **Health care – 6.7%** |  |  |
| **Health care equipment and supplies – 2.0%** | **Health care equipment and supplies – 2.0%** |  |
| Intuitive Surgical, Inc. (A) | &nbsp;&nbsp;58594 | &nbsp;&nbsp;&nbsp;31840566 |
| Stryker Corp. | &nbsp;&nbsp;27566 | &nbsp;&nbsp;&nbsp;10905937 |
|  |  | &nbsp;&nbsp;&nbsp;42746503 |
| **Health care providers and services – 0.9%** | **Health care providers and services – 0.9%** |  |
| Elevance Health, Inc. | &nbsp;&nbsp;11240 | &nbsp;&nbsp;&nbsp;&nbsp;4371910 |
| UnitedHealth Group, Inc. | &nbsp;&nbsp;47359 | &nbsp;&nbsp;&nbsp;14774587 |
|  |  | &nbsp;&nbsp;&nbsp;19146497 |
| **Life sciences tools and services – 1.0%** | **Life sciences tools and services – 1.0%** |  |
| Danaher Corp. | &nbsp;&nbsp;55695 | &nbsp;&nbsp;&nbsp;11001990 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>9</sub>

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Blue Chip Growth Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Life sciences tools and services (continued)** | **Life sciences tools and services (continued)** |  |
| Thermo Fisher Scientific, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;23405 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9489791 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;20491781 |
| **Pharmaceuticals – 2.8%** | **Pharmaceuticals – 2.8%** |  |
| Eli Lilly & Company | &nbsp;&nbsp;&nbsp;&nbsp;76667 | &nbsp;&nbsp;&nbsp;&nbsp;59764227 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;142149008 |
| **Industrials – 3.1%** |  |  |
| **Aerospace and defense – 2.0%** | **Aerospace and defense – 2.0%** |  |
| General Electric Company | &nbsp;&nbsp;134902 | &nbsp;&nbsp;&nbsp;&nbsp;34722426 |
| TransDigm Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;4132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6283284 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;41005710 |
| **Commercial services and supplies – 0.3%** | **Commercial services and supplies – 0.3%** |  |
| Cintas Corp. | &nbsp;&nbsp;&nbsp;&nbsp;24824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5532525 |
| Veralto Corp. | &nbsp;&nbsp;&nbsp;&nbsp;13388 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1351519 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6884044 |
| **Electrical equipment – 0.6%** | **Electrical equipment – 0.6%** |  |
| GE Vernova, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;23802 | &nbsp;&nbsp;&nbsp;&nbsp;12594828 |
| **Ground transportation – 0.2%** | **Ground transportation – 0.2%** |  |
| Old Dominion Freight Line, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;27666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4490192 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;64974774 |
| **Information technology – 46.9%** |  |  |
| **Electronic equipment, instruments and components – 0.4%** | **Electronic equipment, instruments and components – 0.4%** |  |
| TE Connectivity PLC | &nbsp;&nbsp;&nbsp;&nbsp;47492 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8010476 |
| **IT services – 0.8%** | **IT services – 0.8%** |  |
| Shopify, Inc., Class A (A) | &nbsp;&nbsp;139105 | &nbsp;&nbsp;&nbsp;&nbsp;16045762 |
| **Semiconductors and semiconductor equipment – 19.3%** | **Semiconductors and semiconductor equipment – 19.3%** |  |
| ASML Holding NV, NYRS | &nbsp;&nbsp;&nbsp;&nbsp;22343 | &nbsp;&nbsp;&nbsp;&nbsp;17905457 |
| Broadcom, Inc. | &nbsp;&nbsp;239634 | &nbsp;&nbsp;&nbsp;&nbsp;66055112 |
| Monolithic Power Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12811 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9369709 |
| NVIDIA Corp. | 1877916 | &nbsp;&nbsp;&nbsp;&nbsp;296691945 |
| Taiwan Semiconductor Manufacturing Company, Ltd., ADR | &nbsp;&nbsp;&nbsp;&nbsp;46481 | &nbsp;&nbsp;&nbsp;&nbsp;10527482 |
| Texas Instruments, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;30293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6289433 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;406839138 |
| **Software – 18.7%** | **Software – 18.7%** |  |
| Confluent, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;60231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1501559 |
| Crowdstrike Holdings, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;16958 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8636879 |
| Datadog, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;23427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3146949 |
| Intuit, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;19690 | &nbsp;&nbsp;&nbsp;&nbsp;15508435 |
| Microsoft Corp. | &nbsp;&nbsp;586348 | &nbsp;&nbsp;&nbsp;&nbsp;291655359 |
| Palantir Technologies, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;22000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2999040 |
| Roper Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;18955 | &nbsp;&nbsp;&nbsp;&nbsp;10744452 |
| ServiceNow, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;42867 | &nbsp;&nbsp;&nbsp;&nbsp;44070705 |
| Synopsys, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;32365 | &nbsp;&nbsp;&nbsp;&nbsp;16592888 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;394856266 |
| **Technology hardware, storage and peripherals – 7.7%** | **Technology hardware, storage and peripherals – 7.7%** |  |
| Apple, Inc. (C) | &nbsp;&nbsp;796134 | &nbsp;&nbsp;&nbsp;&nbsp;163342813 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;989094455 |
| **Materials – 0.7%** |  |  |
| **Chemicals – 0.7%** | **Chemicals – 0.7%** |  |
| Linde PLC | &nbsp;&nbsp;&nbsp;&nbsp;16351 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7671562 |
| The Sherwin-Williams Company | &nbsp;&nbsp;&nbsp;&nbsp;21233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7290563 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;14962125 |
| **Utilities – 0.9%** |  |  |
| **Electric utilities – 0.9%** | **Electric utilities – 0.9%** |  |
| Constellation Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;58379 | &nbsp;&nbsp;&nbsp;&nbsp;18842406 |
| TOTAL COMMON STOCKS (Cost $1,142,821,585) | TOTAL COMMON STOCKS (Cost $1,142,821,585) | $2097637643 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS - 0.2%** |  |  |
| **Consumer discretionary - 0.2%** |  |  |
| Carvana Company |  |  |
| &nbsp;&nbsp;&nbsp;9.000%, (9.000% Cash or 12.000% PIK), 12/01/2028 (B) | &nbsp;&nbsp;&nbsp;&nbsp;775350 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;795252 |
| &nbsp;&nbsp;&nbsp;11.000%, (11.000% Cash or 13.000% PIK), 06/01/2030 (B) | &nbsp;&nbsp;1366094 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1436241 |
| &nbsp;&nbsp;&nbsp;14.000%, (9.000% Cash or 14.000% PIK), 06/01/2031 (B) | &nbsp;&nbsp;1745277 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2067441 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4298934 |
| TOTAL CORPORATE BONDS (Cost $4,283,689) | TOTAL CORPORATE BONDS (Cost $4,283,689) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4298934 |
| **SHORT-TERM INVESTMENTS – 0.7%** | **SHORT-TERM INVESTMENTS – 0.7%** |  |
| **Short-term funds – 0.7%** |  |  |
| State Street Institutional U.S. Government Money Market Fund, Premier Class, 4.2560% (D) | &nbsp;&nbsp;1367241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1367241 |
| T. Rowe Price Government Reserve Fund, 4.3685% (D) | 13852786 | &nbsp;&nbsp;&nbsp;&nbsp;13852786 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $15,220,027) | TOTAL SHORT-TERM INVESTMENTS (Cost $15,220,027) | $&nbsp;&nbsp;&nbsp;&nbsp;15220027 |
| **Total Investments (Blue Chip Growth Trust)<br> (Cost $1,162,325,301) – 100.3%** | **Total Investments (Blue Chip Growth Trust)<br> (Cost $1,162,325,301) – 100.3%** | $**2117156604** |
| **Other assets and liabilities, net – (0.3%)** | **Other assets and liabilities, net – (0.3%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(6518953)** |
| **TOTAL NET ASSETS – 100.0%** | **TOTAL NET ASSETS – 100.0%** | $**2110637651** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| ADR | American Depositary Receipt |
| NYRS | New York Registry Shares |
| PIK | Pay-in-Kind Security - Represents a payment-in-kind which may pay interest in additional par and/or cash. Rates shown are the current rate and most recent payment rate. |
| (A) | Non-income producing security. |
| (B) | This security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. |
| (C) | All or a portion of this security is on loan as of 6-30-25. |
| (D) | The rate shown is the annualized seven-day yield as of 6-30-25. |

---

#### Capital Appreciation Value Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS – 60.5%** | **COMMON STOCKS – 60.5%** |  |
| **Communication services – 3.3%** |  |  |
| **Interactive media and services – 3.3%** | **Interactive media and services – 3.3%** |  |
| Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41015 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7228073 |
| Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12137 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8958198 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16186271 |
| **Consumer discretionary – 6.4%** |  |  |
| **Broadline retail – 4.2%** | **Broadline retail – 4.2%** |  |
| Amazon.com, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20451755 |
| **Hotels, restaurants and leisure – 2.2%** | **Hotels, restaurants and leisure – 2.2%** |  |
| Hilton Worldwide Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2984340 |
| Starbucks Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4568489 |
| Yum! Brands, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3007165 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10559994 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31011749 |
| **Consumer staples – 0.2%** |  |  |
| **Beverages – 0.2%** | **Beverages – 0.2%** |  |
| Keurig Dr. Pepper, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;416556 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>10</sub>

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Capital Appreciation Value Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Beverages (continued)** | **Beverages (continued)** |  |
| PepsiCo, Inc. | &nbsp;&nbsp;&nbsp;5500 | $&nbsp;&nbsp;&nbsp;&nbsp;726220 |
|  |  | &nbsp;&nbsp;&nbsp;1142776 |
| **Energy – 1.5%** |  |  |
| **Oil, gas and consumable fuels – 1.5%** | **Oil, gas and consumable fuels – 1.5%** |  |
| Canadian Natural Resources, Ltd. | 223859 | &nbsp;&nbsp;&nbsp;7029173 |
| **Financials – 2.4%** |  |  |
| **Capital markets – 0.6%** | **Capital markets – 0.6%** |  |
| Cboe Global Markets, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;186568 |
| CME Group, Inc. | &nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;689050 |
| Intercontinental Exchange, Inc. | &nbsp;&nbsp;&nbsp;2860 | &nbsp;&nbsp;&nbsp;&nbsp;524724 |
| KKR & Company, Inc. | &nbsp;&nbsp;&nbsp;5137 | &nbsp;&nbsp;&nbsp;&nbsp;683375 |
| Morgan Stanley | &nbsp;&nbsp;&nbsp;5653 | &nbsp;&nbsp;&nbsp;&nbsp;796282 |
|  |  | &nbsp;&nbsp;&nbsp;2879999 |
| **Financial services – 1.0%** | **Financial services – 1.0%** |  |
| Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;3487 | &nbsp;&nbsp;&nbsp;1959485 |
| Visa, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;7888 | &nbsp;&nbsp;&nbsp;2800634 |
|  |  | &nbsp;&nbsp;&nbsp;4760119 |
| **Insurance – 0.8%** | **Insurance – 0.8%** |  |
| Aon PLC, Class A | &nbsp;&nbsp;&nbsp;1400 | &nbsp;&nbsp;&nbsp;&nbsp;499464 |
| Marsh & McLennan Companies, Inc. | &nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;327960 |
| Willis Towers Watson PLC | &nbsp;&nbsp;10734 | &nbsp;&nbsp;&nbsp;3289971 |
|  |  | &nbsp;&nbsp;&nbsp;4117395 |
|  |  | 11757513 |
| **Health care – 12.1%** |  |  |
| **Biotechnology – 0.9%** | **Biotechnology – 0.9%** |  |
| AbbVie, Inc. | &nbsp;&nbsp;&nbsp;5800 | &nbsp;&nbsp;&nbsp;1076596 |
| Alnylam Pharmaceuticals, Inc. (B) | &nbsp;&nbsp;&nbsp;4354 | &nbsp;&nbsp;&nbsp;1419796 |
| Ascendis Pharma A/S, ADR (B) | &nbsp;&nbsp;&nbsp;2206 | &nbsp;&nbsp;&nbsp;&nbsp;380756 |
| Biogen, Inc. (B) | &nbsp;&nbsp;&nbsp;1233 | &nbsp;&nbsp;&nbsp;&nbsp;154852 |
| BioNTech SE, ADR (B) | &nbsp;&nbsp;&nbsp;6776 | &nbsp;&nbsp;&nbsp;&nbsp;721441 |
| Cytokinetics, Inc. (B) | &nbsp;&nbsp;17744 | &nbsp;&nbsp;&nbsp;&nbsp;586262 |
|  |  | &nbsp;&nbsp;&nbsp;4339703 |
| **Health care equipment and supplies – 4.2%** | **Health care equipment and supplies – 4.2%** |  |
| Abbott Laboratories | &nbsp;&nbsp;38446 | &nbsp;&nbsp;&nbsp;5229040 |
| Becton, Dickinson and Company (A) | &nbsp;&nbsp;75659 | 13032263 |
| GE HealthCare Technologies, Inc. | &nbsp;&nbsp;&nbsp;5200 | &nbsp;&nbsp;&nbsp;&nbsp;385164 |
| Hologic, Inc. (B) | &nbsp;&nbsp;23895 | &nbsp;&nbsp;&nbsp;1556998 |
|  |  | 20203465 |
| **Health care providers and services – 2.6%** | **Health care providers and services – 2.6%** |  |
| Cardinal Health, Inc. | &nbsp;&nbsp;&nbsp;3730 | &nbsp;&nbsp;&nbsp;&nbsp;626640 |
| Cencora, Inc. | &nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;809595 |
| McKesson Corp. | &nbsp;&nbsp;&nbsp;8293 | &nbsp;&nbsp;&nbsp;6076945 |
| The Cigna Group | &nbsp;&nbsp;&nbsp;6300 | &nbsp;&nbsp;&nbsp;2082654 |
| UnitedHealth Group, Inc. | &nbsp;&nbsp;10066 | &nbsp;&nbsp;&nbsp;3140290 |
|  |  | 12736124 |
| **Life sciences tools and services – 3.5%** | **Life sciences tools and services – 3.5%** |  |
| Avantor, Inc. (B) | &nbsp;&nbsp;51290 | &nbsp;&nbsp;&nbsp;&nbsp;690363 |
| Danaher Corp. | &nbsp;&nbsp;31292 | &nbsp;&nbsp;&nbsp;6181422 |
| Revvity, Inc. | 104463 | 10103661 |
|  |  | 16975446 |
| **Pharmaceuticals – 0.9%** | **Pharmaceuticals – 0.9%** |  |
| Eli Lilly & Company | &nbsp;&nbsp;&nbsp;4635 | &nbsp;&nbsp;&nbsp;3613122 |
| Johnson & Johnson | &nbsp;&nbsp;&nbsp;3100 | &nbsp;&nbsp;&nbsp;&nbsp;473525 |
|  |  | &nbsp;&nbsp;&nbsp;4086647 |
|  |  | 58341385 |
| **Industrials – 3.1%** |  |  |
| **Aerospace and defense – 1.0%** | **Aerospace and defense – 1.0%** |  |
| L3Harris Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;175588 |
| Lockheed Martin Corp. | &nbsp;&nbsp;&nbsp;1508 | &nbsp;&nbsp;&nbsp;&nbsp;698415 |
| Northrop Grumman Corp. | &nbsp;&nbsp;&nbsp;1600 | &nbsp;&nbsp;&nbsp;&nbsp;799968 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Aerospace and defense (continued)** | **Aerospace and defense (continued)** |  |
| RTX Corp. (A) | &nbsp;&nbsp;20213 | $&nbsp;&nbsp;&nbsp;&nbsp;2951502 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;4625473 |
| **Commercial services and supplies – 0.6%** | **Commercial services and supplies – 0.6%** |  |
| Veralto Corp. | &nbsp;&nbsp;21562 | &nbsp;&nbsp;&nbsp;&nbsp;2176684 |
| Waste Management, Inc. | &nbsp;&nbsp;&nbsp;3300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;755106 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2931790 |
| **Machinery – 0.9%** | **Machinery – 0.9%** |  |
| Fortive Corp. | &nbsp;&nbsp;34954 | &nbsp;&nbsp;&nbsp;&nbsp;1822152 |
| Ingersoll Rand, Inc. | &nbsp;&nbsp;31711 | &nbsp;&nbsp;&nbsp;&nbsp;2637721 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;4459873 |
| **Trading companies and distributors – 0.6%** | **Trading companies and distributors – 0.6%** |  |
| Ferguson Enterprises, Inc. | &nbsp;&nbsp;12493 | &nbsp;&nbsp;&nbsp;&nbsp;2720351 |
|  |  | &nbsp;&nbsp;&nbsp;14737487 |
| **Information technology – 25.5%** |  |  |
| **Electronic equipment, instruments and components – 1.8%** | **Electronic equipment, instruments and components – 1.8%** |  |
| Amphenol Corp., Class A | &nbsp;&nbsp;74343 | &nbsp;&nbsp;&nbsp;&nbsp;7341371 |
| Ralliant Corp. (B) | &nbsp;&nbsp;11392 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;552414 |
| Teledyne Technologies, Inc. (B) | &nbsp;&nbsp;&nbsp;1372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;702889 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;8596674 |
| **Semiconductors and semiconductor equipment – 5.9%** | **Semiconductors and semiconductor equipment – 5.9%** |  |
| Advanced Micro Devices, Inc. (B) | &nbsp;&nbsp;59576 | &nbsp;&nbsp;&nbsp;&nbsp;8453834 |
| Analog Devices, Inc. | &nbsp;&nbsp;&nbsp;7700 | &nbsp;&nbsp;&nbsp;&nbsp;1832754 |
| ASML Holding NV, NYRS | &nbsp;&nbsp;&nbsp;1393 | &nbsp;&nbsp;&nbsp;&nbsp;1116336 |
| NVIDIA Corp. (A) | 108468 | &nbsp;&nbsp;&nbsp;17136859 |
|  |  | &nbsp;&nbsp;&nbsp;28539783 |
| **Software – 16.5%** | **Software – 16.5%** |  |
| ANSYS, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;212 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74459 |
| Aurora Innovation, Inc. (B)(C) | 953067 | &nbsp;&nbsp;&nbsp;&nbsp;4994071 |
| Autodesk, Inc. (B) | &nbsp;&nbsp;15567 | &nbsp;&nbsp;&nbsp;&nbsp;4819076 |
| Intuit, Inc. | &nbsp;&nbsp;&nbsp;6591 | &nbsp;&nbsp;&nbsp;&nbsp;5191269 |
| Microsoft Corp. | &nbsp;&nbsp;64483 | &nbsp;&nbsp;&nbsp;32074482 |
| PTC, Inc. (B) | &nbsp;&nbsp;63261 | &nbsp;&nbsp;&nbsp;10902401 |
| Roper Technologies, Inc. | &nbsp;&nbsp;22871 | &nbsp;&nbsp;&nbsp;12964198 |
| Salesforce, Inc. | &nbsp;&nbsp;&nbsp;9546 | &nbsp;&nbsp;&nbsp;&nbsp;2603099 |
| Workday, Inc., Class A (B) | &nbsp;&nbsp;24997 | &nbsp;&nbsp;&nbsp;&nbsp;5999280 |
|  |  | &nbsp;&nbsp;&nbsp;79622335 |
| **Technology hardware, storage and peripherals – 1.3%** | **Technology hardware, storage and peripherals – 1.3%** |  |
| Apple, Inc. (A) | &nbsp;&nbsp;31175 | &nbsp;&nbsp;&nbsp;&nbsp;6396175 |
|  |  | 123154967 |
| **Materials – 0.5%** |  |  |
| **Construction materials – 0.5%** | **Construction materials – 0.5%** |  |
| Vulcan Materials Company | &nbsp;&nbsp;&nbsp;9100 | &nbsp;&nbsp;&nbsp;&nbsp;2373462 |
| **Real estate – 0.2%** |  |  |
| **Specialized REITs – 0.2%** | **Specialized REITs – 0.2%** |  |
| American Tower Corp. | &nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;552550 |
| SBA Communications Corp. | &nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;352260 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;904810 |
| **Utilities – 5.3%** |  |  |
| **Electric utilities – 0.2%** | **Electric utilities – 0.2%** |  |
| Alliant Energy Corp. | &nbsp;&nbsp;&nbsp;2300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139081 |
| American Electric Power Company, Inc. | &nbsp;&nbsp;&nbsp;3500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;363160 |
| Duke Energy Corp. | &nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236000 |
| Exelon Corp. | &nbsp;&nbsp;10100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;438542 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1176783 |
| **Multi-utilities – 5.1%** | **Multi-utilities – 5.1%** |  |
| Ameren Corp. | &nbsp;&nbsp;65843 | &nbsp;&nbsp;&nbsp;&nbsp;6323562 |
| CenterPoint Energy, Inc. | 221070 | &nbsp;&nbsp;&nbsp;&nbsp;8122112 |
| DTE Energy Company | &nbsp;&nbsp;16500 | &nbsp;&nbsp;&nbsp;&nbsp;2185590 |
| NiSource, Inc. | 188828 | &nbsp;&nbsp;&nbsp;&nbsp;7617322 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>11</sub>

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Capital Appreciation Value Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Multi-utilities (continued)** | **Multi-utilities (continued)** |  |
| WEC Energy Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3400 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;354280 |
|  |  | &nbsp;&nbsp;&nbsp;24602866 |
|  |  | &nbsp;&nbsp;&nbsp;25779649 |
| TOTAL COMMON STOCKS (Cost $248,408,820) | TOTAL COMMON STOCKS (Cost $248,408,820) | $292419242 |
| **PREFERRED SECURITIES – 0.0%** |  |  |
| **Utilities – 0.0%** |  |  |
| **Multi-utilities – 0.0%** | **Multi-utilities – 0.0%** |  |
| CMS Energy Corp., 5.875% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3702 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81555 |
| TOTAL PREFERRED SECURITIES (Cost $92,550) | TOTAL PREFERRED SECURITIES (Cost $92,550) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81555 |
| **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS – 14.2%** |  |  |
| **U.S. Government – 14.2%** |  |  |
| U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 04/30/2030 to 06/30/2030 | $17786000 | &nbsp;&nbsp;&nbsp;17855323 |
| &nbsp;&nbsp;&nbsp;4.000%, 02/28/2030 to 05/31/2030 | 50167000 | &nbsp;&nbsp;&nbsp;50649120 |
|  |  | &nbsp;&nbsp;&nbsp;68504443 |
| TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $67,862,191) | TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $67,862,191) | $&nbsp;&nbsp;&nbsp;68504443 |
| **CORPORATE BONDS - 7.4%** |  |  |
| **Communication services - 0.6%** |  |  |
| CCO Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, 05/01/2027 (D) | &nbsp;&nbsp;2457000 | &nbsp;&nbsp;&nbsp;&nbsp;2449096 |
| &nbsp;&nbsp;&nbsp;5.500%, 05/01/2026 (D) | &nbsp;&nbsp;&nbsp;&nbsp;163000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162940 |
| Lamar Media Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, 01/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46202 |
| &nbsp;&nbsp;&nbsp;3.750%, 02/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96932 |
| &nbsp;&nbsp;&nbsp;4.875%, 01/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49426 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2804596 |
| **Consumer discretionary - 2.5%** |  |  |
| Hilton Domestic Operating Company, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, 02/15/2032 (D) | &nbsp;&nbsp;&nbsp;&nbsp;887000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;803496 |
| &nbsp;&nbsp;&nbsp;3.750%, 05/01/2029 (D) | &nbsp;&nbsp;&nbsp;&nbsp;762000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;730464 |
| &nbsp;&nbsp;&nbsp;4.000%, 05/01/2031 (D) | &nbsp;&nbsp;1019000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;958089 |
| &nbsp;&nbsp;&nbsp;4.875%, 01/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;698000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;694861 |
| &nbsp;&nbsp;&nbsp;5.750%, 05/01/2028 (D) | &nbsp;&nbsp;&nbsp;&nbsp;902000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;904037 |
| &nbsp;&nbsp;&nbsp;5.875%, 04/01/2029 (D) | &nbsp;&nbsp;&nbsp;&nbsp;355000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;362588 |
| Hilton Worldwide Finance LLC<br> 4.875%, 04/01/2027 | &nbsp;&nbsp;&nbsp;&nbsp;212000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211762 |
| KFC Holding Company/Pizza Hut Holdings LLC/Taco Bell of America LLC<br> 4.750%, 06/01/2027 (D) | &nbsp;&nbsp;1053000 | &nbsp;&nbsp;&nbsp;&nbsp;1050029 |
| Life Time, Inc.<br> 6.000%, 11/15/2031 (D) | &nbsp;&nbsp;&nbsp;&nbsp;102000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103627 |
| Service Corp. International |  |  |
| &nbsp;&nbsp;&nbsp;3.375%, 08/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91913 |
| &nbsp;&nbsp;&nbsp;4.625%, 12/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;44000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43731 |
| &nbsp;&nbsp;&nbsp;5.750%, 10/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;255000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257600 |
| Six Flags Entertainment Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, 07/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;259000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253637 |
| &nbsp;&nbsp;&nbsp;5.375%, 04/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;676000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675273 |
| &nbsp;&nbsp;&nbsp;5.500%, 04/15/2027 (D) | &nbsp;&nbsp;&nbsp;&nbsp;697000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;695498 |
| &nbsp;&nbsp;&nbsp;6.500%, 10/01/2028 | &nbsp;&nbsp;&nbsp;&nbsp;560000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;564723 |
| &nbsp;&nbsp;&nbsp;7.000%, 07/01/2025 (D) | &nbsp;&nbsp;&nbsp;&nbsp;136000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136000 |
| Vail Resorts, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.625%, 07/15/2030 (D) | &nbsp;&nbsp;&nbsp;&nbsp;147000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147000 |
| &nbsp;&nbsp;&nbsp;6.500%, 05/15/2032 (D) | &nbsp;&nbsp;&nbsp;&nbsp;315000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325473 |
| Yum! Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, 03/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;331000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;305512 |
| &nbsp;&nbsp;&nbsp;4.625%, 01/31/2032 | &nbsp;&nbsp;&nbsp;&nbsp;902000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;868421 |
| &nbsp;&nbsp;&nbsp;4.750%, 01/15/2030 (D) | &nbsp;&nbsp;&nbsp;&nbsp;402000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;398211 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** |  |  |
| **Consumer discretionary (continued)** |  |  |
| Yum! Brands, Inc. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;5.350%, 11/01/2043 | $&nbsp;&nbsp;657000 | $&nbsp;&nbsp;&nbsp;&nbsp;627436 |
| &nbsp;&nbsp;&nbsp;5.375%, 04/01/2032 | &nbsp;&nbsp;540000 | &nbsp;&nbsp;&nbsp;&nbsp;540398 |
| &nbsp;&nbsp;&nbsp;6.875%, 11/15/2037 | &nbsp;&nbsp;414000 | &nbsp;&nbsp;&nbsp;&nbsp;445193 |
|  |  | 12194972 |
| **Financials - 2.1%** |  |  |
| AmWINS Group, Inc.<br> 6.375%, 02/15/2029 (D) | &nbsp;&nbsp;297000 | &nbsp;&nbsp;&nbsp;&nbsp;302713 |
| AssuredPartners, Inc.<br> 7.500%, 02/15/2032 (D) | &nbsp;&nbsp;133000 | &nbsp;&nbsp;&nbsp;&nbsp;142513 |
| BroadStreet Partners, Inc.<br> 5.875%, 04/15/2029 (D) | &nbsp;&nbsp;686000 | &nbsp;&nbsp;&nbsp;&nbsp;677946 |
| HUB International, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;5.625%, 12/01/2029 (D) | &nbsp;&nbsp;255000 | &nbsp;&nbsp;&nbsp;&nbsp;255034 |
| &nbsp;&nbsp;&nbsp;7.250%, 06/15/2030 (D) | 4324000 | &nbsp;&nbsp;&nbsp;4518731 |
| &nbsp;&nbsp;&nbsp;7.375%, 01/31/2032 (D) | 2554000 | &nbsp;&nbsp;&nbsp;2672323 |
| Ryan Specialty LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.375%, 02/01/2030 (D) | &nbsp;&nbsp;135000 | &nbsp;&nbsp;&nbsp;&nbsp;130572 |
| &nbsp;&nbsp;&nbsp;5.875%, 08/01/2032 (D) | &nbsp;&nbsp;380000 | &nbsp;&nbsp;&nbsp;&nbsp;382989 |
| USI, Inc.<br> 7.500%, 01/15/2032 (D) | 1079000 | &nbsp;&nbsp;&nbsp;1138517 |
|  |  | 10221338 |
| **Health care - 0.6%** |  |  |
| Avantor Funding, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 11/01/2029 (D) | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;662761 |
| &nbsp;&nbsp;&nbsp;4.625%, 07/15/2028 (D) | 1055000 | &nbsp;&nbsp;&nbsp;1035967 |
| Hologic, Inc.<br> 3.250%, 02/15/2029 (D) | &nbsp;&nbsp;&nbsp;&nbsp;93000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88625 |
| IQVIA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, 05/15/2027 (D) | &nbsp;&nbsp;436000 | &nbsp;&nbsp;&nbsp;&nbsp;434528 |
| &nbsp;&nbsp;&nbsp;6.500%, 05/15/2030 (D) | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;206197 |
| Surgery Center Holdings, Inc.<br> 7.250%, 04/15/2032 (D) | &nbsp;&nbsp;204000 | &nbsp;&nbsp;&nbsp;&nbsp;207878 |
|  |  | &nbsp;&nbsp;&nbsp;2635956 |
| **Industrials - 0.8%** |  |  |
| Booz Allen Hamilton, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, 07/01/2029 (D) | &nbsp;&nbsp;188000 | &nbsp;&nbsp;&nbsp;&nbsp;180601 |
| &nbsp;&nbsp;&nbsp;5.950%, 08/04/2033 | &nbsp;&nbsp;278000 | &nbsp;&nbsp;&nbsp;&nbsp;285371 |
| Korn Ferry<br> 4.625%, 12/15/2027 (D) | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;248270 |
| TransDigm, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, 01/15/2029 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;294359 |
| &nbsp;&nbsp;&nbsp;6.375%, 03/01/2029 (D) | 1193000 | &nbsp;&nbsp;&nbsp;1223948 |
| &nbsp;&nbsp;&nbsp;6.625%, 03/01/2032 (D) | 1031000 | &nbsp;&nbsp;&nbsp;1067491 |
| &nbsp;&nbsp;&nbsp;7.125%, 12/01/2031 (D) | &nbsp;&nbsp;622000 | &nbsp;&nbsp;&nbsp;&nbsp;651681 |
|  |  | &nbsp;&nbsp;&nbsp;3951721 |
| **Information technology - 0.2%** |  |  |
| Capstone Borrower, Inc.<br> 8.000%, 06/15/2030 to 06/15/2030 (D) | &nbsp;&nbsp;220000 | &nbsp;&nbsp;&nbsp;&nbsp;228999 |
| Crowdstrike Holdings, Inc.<br> 3.000%, 02/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;24000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22673 |
| Ellucian Holdings, Inc.<br> 6.500%, 12/01/2029 (D) | &nbsp;&nbsp;260000 | &nbsp;&nbsp;&nbsp;&nbsp;265900 |
| Fair Isaac Corp.<br> 6.000%, 05/15/2033 (D) | &nbsp;&nbsp;191000 | &nbsp;&nbsp;&nbsp;&nbsp;192751 |
| PTC, Inc.<br> 4.000%, 02/15/2028 (D) | &nbsp;&nbsp;280000 | &nbsp;&nbsp;&nbsp;&nbsp;272143 |
| Workday, Inc.<br> 3.800%, 04/01/2032 | &nbsp;&nbsp;215000 | &nbsp;&nbsp;&nbsp;&nbsp;202026 |
|  |  | &nbsp;&nbsp;&nbsp;1184492 |
| **Materials - 0.1%** |  |  |
| Ball Corp.<br> 6.000%, 06/15/2029 | &nbsp;&nbsp;495000 | &nbsp;&nbsp;&nbsp;&nbsp;507462 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>12</sub>

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Capital Appreciation Value Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** |  |  |
| **Real estate - 0.5%** |  |  |
| Crown Castle, Inc.<br> 4.900%, 09/01/2029 | $&nbsp;&nbsp;227000 | $&nbsp;&nbsp;&nbsp;&nbsp;229043 |
| SBA Communications Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.125%, 02/01/2029 | &nbsp;&nbsp;944000 | &nbsp;&nbsp;&nbsp;&nbsp;891587 |
| &nbsp;&nbsp;&nbsp;3.875%, 02/15/2027 | &nbsp;&nbsp;860000 | &nbsp;&nbsp;&nbsp;&nbsp;846757 |
| VICI Properties LP<br> 5.750%, 04/01/2034 | &nbsp;&nbsp;233000 | &nbsp;&nbsp;&nbsp;&nbsp;238185 |
|  |  | &nbsp;&nbsp;&nbsp;2205572 |
| TOTAL CORPORATE BONDS (Cost $34,787,146) | TOTAL CORPORATE BONDS (Cost $34,787,146) | $35706109 |
| **TERM LOANS (E) – 9.2%** |  |  |
| **Consumer discretionary – 0.9%** |  |  |
| Four Seasons Hotels, Ltd., 2024 1st Lien Term Loan B (1 month CME Term SOFR + 1.750%) 6.077%, 11/30/2029 | &nbsp;&nbsp;&nbsp;&nbsp;68788 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69132 |
| Hilton Domestic Operating Company, Inc., 2023 Term Loan B4 (1 month CME Term SOFR + 1.750%) 6.069%, 11/08/2030 | 1662129 | &nbsp;&nbsp;&nbsp;1667065 |
| IRB Holding Corp., 2024 1st Lien Term Loan B (1 month CME Term SOFR + 2.500%) 6.827%, 12/15/2027 | &nbsp;&nbsp;971547 | &nbsp;&nbsp;&nbsp;&nbsp;971207 |
| Mister Car Wash Holdings, Inc., 2024 Term Loan B (1 month CME Term SOFR + 2.500%) 6.827%, 03/27/2031 | &nbsp;&nbsp;232298 | &nbsp;&nbsp;&nbsp;&nbsp;232540 |
| Varsity Brands, Inc., 2025 Term Loan (3 month CME Term SOFR + 3.500%) 7.830%, 08/26/2031 | 1276800 | &nbsp;&nbsp;&nbsp;1275600 |
| Wyndham Hotels & Resorts, Inc., 2024 Term Loan (1 month CME Term SOFR + 1.750%) 6.077%, 05/24/2030 | &nbsp;&nbsp;269141 | &nbsp;&nbsp;&nbsp;&nbsp;270053 |
|  |  | &nbsp;&nbsp;&nbsp;4485597 |
| **Financials – 3.4%** |  |  |
| AmWINS Group, Inc., 2025 Term Loan B (1 month CME Term SOFR + 2.250%) 6.577%, 01/30/2032 | 3030261 | &nbsp;&nbsp;&nbsp;3030807 |
| BroadStreet Partners, Inc., 2024 Term Loan B4 (1 month CME Term SOFR + 3.000%) 7.327%, 06/13/2031 | 2855904 | &nbsp;&nbsp;&nbsp;2858703 |
| CPI Holdco B LLC, 2024 Incremental Term Loan B (1 month CME Term SOFR + 2.250%) 6.577%, 05/17/2031 | &nbsp;&nbsp;945000 | &nbsp;&nbsp;&nbsp;&nbsp;943819 |
| CPI Holdco B LLC, 2025 Add on Term Loan B TBD 05/17/2031 (F) | &nbsp;&nbsp;245000 | &nbsp;&nbsp;&nbsp;&nbsp;244143 |
| HUB International, Ltd., 2025 Term Loan B (3 month CME Term SOFR + 2.500%) 6.770%, 06/20/2030 | 6118498 | &nbsp;&nbsp;&nbsp;6135446 |
| Mariner Wealth Advisors LLC, Term Loan B (3 month CME Term SOFR + 2.500%) 6.796%, 08/18/2028 | &nbsp;&nbsp;295370 | &nbsp;&nbsp;&nbsp;&nbsp;295984 |
| Mariner Wealth Advisors LLC , 2025 Term Loan TBD 12/18/2030 (F) | &nbsp;&nbsp;412000 | &nbsp;&nbsp;&nbsp;&nbsp;412857 |
| USI, Inc., 2024 Term Loan C (3 month CME Term SOFR + 2.250%) 6.546%, 09/29/2030 | 1231451 | &nbsp;&nbsp;&nbsp;1227215 |
| USI, Inc., 2024 Term Loan D (3 month CME Term SOFR + 2.250%) 6.546%, 11/21/2029 | 1222080 | &nbsp;&nbsp;&nbsp;1219599 |
|  |  | 16368573 |
| **Health care – 0.5%** |  |  |
| ADMI Corp., 2021 Incremental Term Loan B3 (1 month CME Term SOFR + 3.750%) 8.191%, 12/23/2027 | &nbsp;&nbsp;176978 | &nbsp;&nbsp;&nbsp;&nbsp;168350 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **TERM LOANS (E)(continued)** |  |  |
| **Health care (continued)** |  |  |
| ADMI Corp., 2021 Term Loan B2 (1 month CME Term SOFR + 3.375%) 7.816%, 12/23/2027 | $&nbsp;&nbsp;&nbsp;&nbsp;54914 | &nbsp;&nbsp;&nbsp;&nbsp;51870 |
| AthenaHealth Group, Inc., 2022 Term Loan B (1 month CME Term SOFR + 2.750%) 7.077%, 02/15/2029 | &nbsp;&nbsp;697253 | &nbsp;&nbsp;&nbsp;&nbsp;696165 |
| Avantor Funding, Inc., 2024 Term Loan (1 month CME Term SOFR + 2.000%) 6.427%, 11/08/2027 | &nbsp;&nbsp;&nbsp;&nbsp;6183 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6204 |
| Loire Finco Luxembourg Sarl, 2025 USD Term Loan B (1 month CME Term SOFR + 4.000%) 8.327%, 01/21/2030 | 1695763 | 1700002 |
|  |  | 2622591 |
| **Industrials – 1.1%** |  |  |
| Filtration Group Corp., 2025 EUR Term Loan B (1 month EURIBOR + 3.500%) 5.429%, 10/21/2028 | &nbsp;&nbsp;603316 | &nbsp;&nbsp;&nbsp;&nbsp;709789 |
| Filtration Group Corp., 2025 USD Term Loan B (1 month CME Term SOFR + 3.000%) 7.327%, 10/21/2028 | $2722162 | 2731499 |
| Trans Union LLC, 2019 Term Loan B5 (1 month CME Term SOFR + 1.750%) 6.177%, 11/16/2026 | &nbsp;&nbsp;&nbsp;&nbsp;92181 | &nbsp;&nbsp;&nbsp;&nbsp;92220 |
| TransDigm, Inc., 2024 Term Loan I (3 month CME Term SOFR + 2.750%) 7.046%, 08/24/2028 | &nbsp;&nbsp;772282 | &nbsp;&nbsp;&nbsp;&nbsp;774761 |
| TransDigm, Inc., 2024 Term Loan K (3 month CME Term SOFR + 2.750%) 7.046%, 03/22/2030 | 1173089 | 1177007 |
|  |  | 5485276 |
| **Information technology – 3.1%** |  |  |
| Applied Systems, Inc., 2024 1st Lien Term Loan (3 month CME Term SOFR + 2.500%) 6.796%, 02/24/2031 | 5356933 | 5377022 |
| Applied Systems, Inc., 2024 2nd Lien Term Loan (3 month CME Term SOFR + 4.500%) 8.796%, 02/23/2032 | &nbsp;&nbsp;716009 | &nbsp;&nbsp;&nbsp;&nbsp;732656 |
| Ascend Learning LLC, 2025 Repriced Term Loan B TBD 12/11/2028 (F) | &nbsp;&nbsp;427928 | &nbsp;&nbsp;&nbsp;&nbsp;427662 |
| Azalea TopCo, Inc., 2024 1st Lien Term Loan B (1 month CME Term SOFR + 3.250%) 7.577%, 04/30/2031 | &nbsp;&nbsp;890273 | &nbsp;&nbsp;&nbsp;&nbsp;891385 |
| CCC Intelligent Solutions, Inc., Term Loan (1 month CME Term SOFR + 2.000%) 6.327%, 01/23/2032 | &nbsp;&nbsp;414598 | &nbsp;&nbsp;&nbsp;&nbsp;414548 |
| Ellucian Holdings, Inc., 2024 1st Lien Term Loan B (1 month CME Term SOFR + 3.000%) 7.327%, 10/09/2029 | &nbsp;&nbsp;782040 | &nbsp;&nbsp;&nbsp;&nbsp;783510 |
| Epicor Software Corp., 2024 Term Loan E (1 month CME Term SOFR + 2.750%) 7.077%, 05/30/2031 | 1271650 | 1274206 |
| Icon Parent, Inc., 2024 2nd Lien Term Loan (6 month CME Term SOFR + 5.000%) 9.205%, 11/12/2032 | &nbsp;&nbsp;387200 | &nbsp;&nbsp;&nbsp;&nbsp;390104 |
| Icon Parent, Inc., 2024 Term Loan (6 month CME Term SOFR + 3.000%) 7.205%, 11/13/2031 | 1189120 | 1190095 |
| Informatica LLC, 2024 Term Loan B (1 month CME Term SOFR + 2.250%) 6.577%, 10/27/2028 | &nbsp;&nbsp;405568 | &nbsp;&nbsp;&nbsp;&nbsp;406963 |
| Quartz Acquireco LLC, 2025 Term Loan B (3 month CME Term SOFR + 2.250%) 6.546%, 06/28/2030 | &nbsp;&nbsp;290414 | &nbsp;&nbsp;&nbsp;&nbsp;291140 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>13</sub>

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Capital Appreciation Value Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **TERM LOANS (E)(continued)** |  |  |
| **Information technology (continued)** |  |  |
| Storable, Inc., 2025 Term Loan B (1 month CME Term SOFR + 3.250%) 7.577%, 04/16/2031 | $&nbsp;&nbsp;1001053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;999181 |
| UKG, Inc., 2024 Term Loan B (1 month CME Term SOFR + 3.000%) 7.311%, 02/10/2031 | &nbsp;&nbsp;1604207 | &nbsp;&nbsp;&nbsp;&nbsp;1609854 |
|  |  | &nbsp;&nbsp;&nbsp;14788326 |
| **Real estate – 0.2%** |  |  |
| SBA Senior Finance II LLC, 2024 Term Loan B (1 month CME Term SOFR + 1.750%) 6.080%, 01/25/2031 | &nbsp;&nbsp;1009009 | &nbsp;&nbsp;&nbsp;&nbsp;1009897 |
| TOTAL TERM LOANS (Cost $44,623,508) | TOTAL TERM LOANS (Cost $44,623,508) | $&nbsp;&nbsp;&nbsp;44760260 |
| **ASSET-BACKED SECURITIES - 0.1%** |  |  |
| Domino's Pizza Master Issuer LLC<br> Series 2017-1A, Class A23<br> 4.118%, 07/25/2047 (D) | &nbsp;&nbsp;&nbsp;&nbsp;326180 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;321749 |
| Domino's Pizza Master Issuer LLC<br> Series 2019-1A, Class A2<br> 3.668%, 10/25/2049 (D) | &nbsp;&nbsp;&nbsp;&nbsp;206400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196634 |
| TOTAL ASSET-BACKED SECURITIES (Cost $529,894) | TOTAL ASSET-BACKED SECURITIES (Cost $529,894) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;518383 |
| **SHORT-TERM INVESTMENTS – 9.4%** | **SHORT-TERM INVESTMENTS – 9.4%** |  |
| **Short-term funds – 9.0%** |  |  |
| John Hancock Collateral Trust, 4.2596% (G)(H) | &nbsp;&nbsp;&nbsp;&nbsp;239532 | &nbsp;&nbsp;&nbsp;&nbsp;2395895 |
| T. Rowe Price Government Reserve Fund, 4.3685% (G) | 41009457 | &nbsp;&nbsp;&nbsp;41009457 |
|  |  | &nbsp;&nbsp;&nbsp;43405352 |
| **Repurchase agreement – 0.4%** |  |  |
| Repurchase Agreement with State Street Corp. dated 6-30-25 at 1.360% to be repurchased at $2,208,083 on 7-1-25, collateralized by $2,234,400 U.S. Treasury Notes, 4.000% due 12-15-27 (valued at $2,252,245) | $&nbsp;&nbsp;2208000 | &nbsp;&nbsp;&nbsp;&nbsp;2208000 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $45,613,347) | TOTAL SHORT-TERM INVESTMENTS (Cost $45,613,347) | $&nbsp;&nbsp;&nbsp;45613352 |
| **Total Investments (Capital Appreciation Value Trust)<br> (Cost $441,917,456) – 100.8%** | **Total Investments (Capital Appreciation Value Trust)<br> (Cost $441,917,456) – 100.8%** | $**487603344** |
| **Other assets and liabilities, net – (0.8%)** | **Other assets and liabilities, net – (0.8%)** | &nbsp;&nbsp;&nbsp;**(3828093)** |
| **TOTAL NET ASSETS – 100.0%** | **TOTAL NET ASSETS – 100.0%** | $**483775251** |

---

<u>Currency Abbreviations</u> <br> EUR Euro

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| ADR | American Depositary Receipt |
| CME | CME Group Published Rates |
| EURIBOR | Euro Interbank Offered Rate |
| NYRS | New York Registry Shares |
| SOFR | Secured Overnight Financing Rate |
| (A) | All or a portion of this security is segregated at the custodian as collateral for certain derivatives. |
| (B) | Non-income producing security. |
| (C) | All or a portion of this security is on loan as of 6-30-25. |
| (D) | This security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. |
| (E) | Term loans are variable rate obligations. The rate shown represents the rate at period end. |
| (F) | This position represents an unsettled loan commitment at period end. Certain details associated with this purchase are not known prior to the settlement date, including coupon rate, which is disclosed as TBD (To Be Determined). |
| (G) | The rate shown is the annualized seven-day yield as of 6-30-25. |
| (H) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |

---

#### DERIVATIVES

#### WRITTEN OPTIONS

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Options on securities** | **Options on securities** | **Options on securities** | **Options on securities** | **Options on securities** | **Options on securities** | **Options on securities** | **Options on securities** | **Options on securities** |
| **Counterparty (OTC)/<br> Exchange-<br> traded** | &nbsp;&nbsp;**Name of issuer** | &nbsp;&nbsp;**Currency** | **Exercise<br> price** | &nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;**Notional<br> amount** | &nbsp;&nbsp;**Premium** | &nbsp;&nbsp;**Value** |
| **Calls** | **Calls** |  |  |  |  |  |  |  |
| BOA | &nbsp;&nbsp;Abbott Laboratories | &nbsp;&nbsp;USD | 130.00 | &nbsp;&nbsp;Jan 2026 | &nbsp;&nbsp;&nbsp;&nbsp;45 | &nbsp;&nbsp;&nbsp;&nbsp;4500 | &nbsp;&nbsp;$24919 | &nbsp;&nbsp;$(60796) |
| BOA | &nbsp;&nbsp;Abbott Laboratories | &nbsp;&nbsp;USD | 145.00 | &nbsp;&nbsp;Jan 2026 | &nbsp;&nbsp;&nbsp;&nbsp;22 | &nbsp;&nbsp;&nbsp;&nbsp;2200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12481) |
| BOA | &nbsp;&nbsp;AbbVie, Inc. | &nbsp;&nbsp;USD | 195.00 | &nbsp;&nbsp;Jan 2026 | &nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30387) |
| BOA | &nbsp;&nbsp;AbbVie, Inc. | &nbsp;&nbsp;USD | 210.00 | &nbsp;&nbsp;Jan 2026 | &nbsp;&nbsp;&nbsp;&nbsp;28 | &nbsp;&nbsp;&nbsp;&nbsp;2800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14546) |
| UBS | &nbsp;&nbsp;Alliant Energy Corp. | &nbsp;&nbsp;USD | 67.50 | &nbsp;&nbsp;Jul 2025 | &nbsp;&nbsp;&nbsp;&nbsp;23 | &nbsp;&nbsp;&nbsp;&nbsp;2300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1357 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) |
| GSI | &nbsp;&nbsp;American Electric Power Company, Inc. | &nbsp;&nbsp;USD | 110.00 | &nbsp;&nbsp;Jan 2026 | &nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6548) |
| GSI | &nbsp;&nbsp;American Electric Power Company, Inc. | &nbsp;&nbsp;USD | 115.00 | &nbsp;&nbsp;Jan 2026 | &nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2742) |
| GSI | &nbsp;&nbsp;American Tower Corp. | &nbsp;&nbsp;USD | 210.00 | &nbsp;&nbsp;Jan 2026 | &nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23128) |
| GSI | &nbsp;&nbsp;American Tower Corp. | &nbsp;&nbsp;USD | 210.00 | &nbsp;&nbsp;Jan 2026 | &nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(34692) |
| WFB | &nbsp;&nbsp;Aon PLC, Class A | &nbsp;&nbsp;USD | 390.00 | &nbsp;&nbsp;Dec 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16359 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7326) |
| WFB | &nbsp;&nbsp;Aon PLC, Class A | &nbsp;&nbsp;USD | 430.00 | &nbsp;&nbsp;Dec 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9009 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1639) |
| GSI | &nbsp;&nbsp;Becton, Dickinson and Company | &nbsp;&nbsp;USD | 255.00 | &nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) |

---

**The accompanying notes are an integral part of the financial statements.** <sub>14</sub>

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Capital Appreciation Value Trust (continued)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Options on securities (continued)** | **Options on securities (continued)** | **Options on securities (continued)** | **Options on securities (continued)** | **Options on securities (continued)** | **Options on securities (continued)** | **Options on securities (continued)** | **Options on securities (continued)** | **Options on securities (continued)** |
| **Counterparty (OTC)/<br> Exchange-<br> traded** | &nbsp;&nbsp;**Name of issuer** | &nbsp;&nbsp;**Currency** | **Exercise<br> price** | &nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;**Notional<br> amount** | &nbsp;&nbsp;**Premium** | &nbsp;&nbsp;**Value** |
| **Calls (continued)** | **Calls (continued)** |  |  |  |  |  |  |  |
| BARC | &nbsp;&nbsp;Cardinal Health, Inc. | &nbsp;&nbsp;USD | 140.00 | &nbsp;&nbsp;Jan 2026 | &nbsp;&nbsp;&nbsp;&nbsp;22 | &nbsp;&nbsp;&nbsp;&nbsp;2200 | &nbsp;&nbsp;$17710 | &nbsp;&nbsp;$(73520) |
| BARC | &nbsp;&nbsp;Cardinal Health, Inc. | &nbsp;&nbsp;USD | 140.00 | &nbsp;&nbsp;Jan 2026 | &nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(50127) |
| BARC | &nbsp;&nbsp;Cboe Global Markets, Inc. | &nbsp;&nbsp;USD | 230.00 | &nbsp;&nbsp;Jan 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15782) |
| UBS | &nbsp;&nbsp;Cencora, Inc. | &nbsp;&nbsp;USD | 260.00 | &nbsp;&nbsp;Jan 2026 | &nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(76766) |
| UBS | &nbsp;&nbsp;Cencora, Inc. | &nbsp;&nbsp;USD | 270.00 | &nbsp;&nbsp;Jan 2026 | &nbsp;&nbsp;&nbsp;&nbsp;12 | &nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(51926) |
| BOA | &nbsp;&nbsp;CenterPoint Energy, Inc. | &nbsp;&nbsp;USD | 35.00 | &nbsp;&nbsp;Dec 2025 | &nbsp;&nbsp;&nbsp;&nbsp;76 | &nbsp;&nbsp;&nbsp;&nbsp;7600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25611) |
| BOA | &nbsp;&nbsp;CenterPoint Energy, Inc. | &nbsp;&nbsp;USD | 35.00 | &nbsp;&nbsp;Dec 2025 | &nbsp;&nbsp;&nbsp;&nbsp;44 | &nbsp;&nbsp;&nbsp;&nbsp;4400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5892 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14828) |
| BARC | &nbsp;&nbsp;CME Group, Inc. | &nbsp;&nbsp;USD | 250.00 | &nbsp;&nbsp;Jan 2026 | &nbsp;&nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(39297) |
| BARC | &nbsp;&nbsp;CME Group, Inc. | &nbsp;&nbsp;USD | 270.00 | &nbsp;&nbsp;Jan 2026 | &nbsp;&nbsp;&nbsp;&nbsp;14 | &nbsp;&nbsp;&nbsp;&nbsp;1400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30304) |
| UBS | &nbsp;&nbsp;Danaher Corp. | &nbsp;&nbsp;USD | 330.00 | &nbsp;&nbsp;Jan 2026 | &nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40441 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(106) |
| WFB | &nbsp;&nbsp;DTE Energy Company | &nbsp;&nbsp;USD | 135.00 | &nbsp;&nbsp;Jul 2025 | &nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1509) |
| WFB | &nbsp;&nbsp;DTE Energy Company | &nbsp;&nbsp;USD | 135.00 | &nbsp;&nbsp;Jul 2025 | &nbsp;&nbsp;&nbsp;&nbsp;19 | &nbsp;&nbsp;&nbsp;&nbsp;1900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1433) |
| UBS | &nbsp;&nbsp;Duke Energy Corp. | &nbsp;&nbsp;USD | 120.00 | &nbsp;&nbsp;Jan 2026 | &nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11262) |
| UBS | &nbsp;&nbsp;Exelon Corp. | &nbsp;&nbsp;USD | 45.00 | &nbsp;&nbsp;Jan 2026 | &nbsp;&nbsp;&nbsp;&nbsp;76 | &nbsp;&nbsp;&nbsp;&nbsp;7600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6308 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14728) |
| UBS | &nbsp;&nbsp;Exelon Corp. | &nbsp;&nbsp;USD | 47.00 | &nbsp;&nbsp;Jan 2026 | &nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2919) |
| WFB | &nbsp;&nbsp;GE HealthCare Technologies, Inc. | &nbsp;&nbsp;USD | 97.50 | &nbsp;&nbsp;Jan 2026 | &nbsp;&nbsp;&nbsp;&nbsp;27 | &nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2609) |
| WFB | &nbsp;&nbsp;GE HealthCare Technologies, Inc. | &nbsp;&nbsp;USD | 100.00 | &nbsp;&nbsp;Jan 2026 | &nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1830) |
| GSI | &nbsp;&nbsp;Intercontinental Exchange, Inc. | &nbsp;&nbsp;USD | 165.00 | &nbsp;&nbsp;Jan 2026 | &nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(38278) |
| GSI | &nbsp;&nbsp;Intercontinental Exchange, Inc. | &nbsp;&nbsp;USD | 185.00 | &nbsp;&nbsp;Jan 2026 | &nbsp;&nbsp;&nbsp;&nbsp;13 | &nbsp;&nbsp;&nbsp;&nbsp;1300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15013) |
| WFB | &nbsp;&nbsp;Johnson & Johnson | &nbsp;&nbsp;USD | 170.00 | &nbsp;&nbsp;Jan 2026 | &nbsp;&nbsp;&nbsp;&nbsp;31 | &nbsp;&nbsp;&nbsp;&nbsp;3100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6682) |
| UBS | &nbsp;&nbsp;Keurig Dr. Pepper, Inc. | &nbsp;&nbsp;USD | 35.00 | &nbsp;&nbsp;Jan 2026 | &nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3308) |
| UBS | &nbsp;&nbsp;Keurig Dr. Pepper, Inc. | &nbsp;&nbsp;USD | 35.00 | &nbsp;&nbsp;Jan 2026 | &nbsp;&nbsp;101 | &nbsp;&nbsp;10100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13365) |
| WFB | &nbsp;&nbsp;L3Harris Technologies, Inc. | &nbsp;&nbsp;USD | 230.00 | &nbsp;&nbsp;Dec 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10479 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21449) |
| BOA | &nbsp;&nbsp;Lockheed Martin Corp. | &nbsp;&nbsp;USD | 500.00 | &nbsp;&nbsp;Jan 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11772 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11594) |
| BOA | &nbsp;&nbsp;Lockheed Martin Corp. | &nbsp;&nbsp;USD | 520.00 | &nbsp;&nbsp;Jan 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12389) |
| BARC | &nbsp;&nbsp;Marsh & McLennan Companies, Inc. | &nbsp;&nbsp;USD | 250.00 | &nbsp;&nbsp;Dec 2025 | &nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3896) |
| BARC | &nbsp;&nbsp;Mastercard, Inc., Class A | &nbsp;&nbsp;USD | 580.00 | &nbsp;&nbsp;Jan 2026 | &nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27095 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(33899) |
| BARC | &nbsp;&nbsp;Mastercard, Inc., Class A | &nbsp;&nbsp;USD | 620.00 | &nbsp;&nbsp;Jan 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8844) |
| GSI | &nbsp;&nbsp;McKesson Corp. | &nbsp;&nbsp;USD | 660.00 | &nbsp;&nbsp;Jan 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(44264) |
| GSI | &nbsp;&nbsp;McKesson Corp. | &nbsp;&nbsp;USD | 680.00 | &nbsp;&nbsp;Jan 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12429 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(28831) |
| CITI | &nbsp;&nbsp;Northrop Grumman Corp. | &nbsp;&nbsp;USD | 530.00 | &nbsp;&nbsp;Jan 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12612 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15150) |
| CITI | &nbsp;&nbsp;Northrop Grumman Corp. | &nbsp;&nbsp;USD | 560.00 | &nbsp;&nbsp;Jan 2026 | &nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15341) |
| CITI | &nbsp;&nbsp;PepsiCo, Inc. | &nbsp;&nbsp;USD | 160.00 | &nbsp;&nbsp;Jan 2026 | &nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4616) |
| CITI | &nbsp;&nbsp;PepsiCo, Inc. | &nbsp;&nbsp;USD | 165.00 | &nbsp;&nbsp;Jan 2026 | &nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4065) |
| GSI | &nbsp;&nbsp;RTX Corp. | &nbsp;&nbsp;USD | 140.00 | &nbsp;&nbsp;Jan 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8827) |
| GSI | &nbsp;&nbsp;RTX Corp. | &nbsp;&nbsp;USD | 140.00 | &nbsp;&nbsp;Jan 2026 | &nbsp;&nbsp;&nbsp;&nbsp;31 | &nbsp;&nbsp;&nbsp;&nbsp;3100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(45604) |
| JPM | &nbsp;&nbsp;SBA Communications Corp. | &nbsp;&nbsp;USD | 230.00 | &nbsp;&nbsp;Dec 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15887) |
| JPM | &nbsp;&nbsp;SBA Communications Corp. | &nbsp;&nbsp;USD | 230.00 | &nbsp;&nbsp;Dec 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6804 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13901) |
| WFB | &nbsp;&nbsp;Starbucks Corp. | &nbsp;&nbsp;USD | 125.00 | &nbsp;&nbsp;Jan 2026 | &nbsp;&nbsp;&nbsp;&nbsp;22 | &nbsp;&nbsp;&nbsp;&nbsp;2200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15774 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1994) |
| GSI | &nbsp;&nbsp;Visa, Inc., Class A | &nbsp;&nbsp;USD | 360.00 | &nbsp;&nbsp;Jan 2026 | &nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21086 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(38189) |
| GSI | &nbsp;&nbsp;Visa, Inc., Class A | &nbsp;&nbsp;USD | 390.00 | &nbsp;&nbsp;Jan 2026 | &nbsp;&nbsp;&nbsp;&nbsp;17 | &nbsp;&nbsp;&nbsp;&nbsp;1700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26364 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20895) |
| JPM | &nbsp;&nbsp;Waste Management, Inc. | &nbsp;&nbsp;USD | 230.00 | &nbsp;&nbsp;Jan 2026 | &nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(35667) |
| JPM | &nbsp;&nbsp;Waste Management, Inc. | &nbsp;&nbsp;USD | 250.00 | &nbsp;&nbsp;Jan 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4381) |
| JPM | &nbsp;&nbsp;WEC Energy Group, Inc. | &nbsp;&nbsp;USD | 110.00 | &nbsp;&nbsp;Dec 2025 | &nbsp;&nbsp;&nbsp;&nbsp;21 | &nbsp;&nbsp;&nbsp;&nbsp;2100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4137 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5920) |
| JPM | &nbsp;&nbsp;WEC Energy Group, Inc. | &nbsp;&nbsp;USD | 115.00 | &nbsp;&nbsp;Dec 2025 | &nbsp;&nbsp;&nbsp;&nbsp;13 | &nbsp;&nbsp;&nbsp;&nbsp;1300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1880) |
| UBS | &nbsp;&nbsp;Willis Towers Watson PLC | &nbsp;&nbsp;USD | 360.00 | &nbsp;&nbsp;Jul 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2909 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(53) |
| WFB | &nbsp;&nbsp;Yum! Brands, Inc. | &nbsp;&nbsp;USD | 145.00 | &nbsp;&nbsp;Jan 2026 | &nbsp;&nbsp;&nbsp;&nbsp;17 | &nbsp;&nbsp;&nbsp;&nbsp;1700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20257) |
| WFB | &nbsp;&nbsp;Yum! Brands, Inc. | &nbsp;&nbsp;USD | 160.00 | &nbsp;&nbsp;Jan 2026 | &nbsp;&nbsp;&nbsp;&nbsp;23 | &nbsp;&nbsp;&nbsp;&nbsp;2300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10773 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10623) |
|  |  |  |  |  |  |  | &nbsp;&nbsp;**$771087** | &nbsp;&nbsp;**$(1113909)** |

---

<u>Derivatives Currency Abbreviations</u> <br> USD U.S. Dollar

---

| | |
|:---|:---|
| <u>Derivatives Abbreviations</u> | <u>Derivatives Abbreviations</u> |
| BARC | Barclays Bank PLC |
| BOA | Bank of America, N.A. |
| CITI | Citibank, N.A. |
| GSI | Goldman Sachs International |
| JPM | JPMorgan Chase Bank, N.A. |
| OTC | Over-the-counter |
| UBS | UBS AG |
| WFB | Wells Fargo Bank, N.A. |

---

&nbsp;&nbsp;&nbsp;&nbsp;

See Notes to financial statements regarding investment transactions and other derivatives information.

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 15 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Disciplined Value Emerging Markets Equity Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS - 87.3%** | **COMMON STOCKS - 87.3%** |  |
| **Brazil - 9.9%** |  |  |
| Embraer SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19300 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;273563 |
| Hypera SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;771700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3861980 |
| Itau Unibanco Holding SA, ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;373691 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2537362 |
| Localiza Rent a Car SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;522700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3898291 |
| Rede D'Or Sao Luiz SA (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;659200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4297521 |
| Sendas Distribuidora SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2371200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4914268 |
| Suzano SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236582 |
| TIM SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;952100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3864056 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23883623 |
| **Chile - 0.4%** |  |  |
| Cencosud SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69707 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;237189 |
| Sociedad Quimica y Minera de Chile SA, ADR (B)(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17977 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;634049 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;871238 |
| **China - 26.0%** |  |  |
| AAC Technologies Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247135 |
| Alibaba Group Holding, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4185911 |
| Angel Yeast Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;695712 |
| BYD Company, Ltd., H Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;224000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3487685 |
| Central China Management Company, Ltd. (B)(D) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1434 |
| China Dili Group (B)(D) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11218 |
| China Feihe, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;645000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470490 |
| China Huiyuan Juice Group, Ltd. (B)(D) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| China Jushi Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;767917 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1221506 |
| China Mengniu Dairy Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185510 |
| China Taifeng Beddings Holdings, Ltd. (B)(D) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| China Zhongwang Holdings, Ltd. (B)(D) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Contemporary Amperex Technology Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1177569 |
| CT Environmental Group, Ltd. (B)(D) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Goldwind Science & Technology Company, Ltd., H Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;959000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;913459 |
| Hangzhou Chang Chuan Technology Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262882 |
| Hongda Xingye Company, Ltd., Class A (B)(D) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2339 |
| Inner Mongolia Yili Industrial Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;474207 |
| J&T Global Express, Ltd. (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3630600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3144202 |
| JD Logistics, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125752 |
| JD.com, Inc., ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232919 |
| JD.com, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;234368 |
| Lenovo Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;244055 |
| Luzhou Laojiao Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240731 |
| Muyuan Foods Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;785689 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4608993 |
| Ningbo Deye Technology Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;419451 |
| Pharmaron Beijing Company, Ltd., H Shares (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;699408 |
| Qinghai Salt Lake Industry Company, Ltd., Class A (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;826053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1968171 |
| Quectel Wireless Solutions Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1590536 |
| Qunxing Paper Holdings Company, Ltd. (B)(D) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;634371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Silergy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;426343 |
| STO Express Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222188 |
| Sunny Optical Technology Group Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250458 |
| Sunwoda Electronic Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260953 |
| Tencent Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11888374 |

---

#### Disciplined Value Emerging Markets Equity Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **China (continued)** |  |  |
| Tencent Holdings, Ltd., ADR | &nbsp;&nbsp;&nbsp;&nbsp;32879 | $&nbsp;&nbsp;&nbsp;2120696 |
| Tenwow International Holdings, Ltd. (B)(D) | &nbsp;&nbsp;&nbsp;&nbsp;121000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Tingyi Cayman Islands Holding Corp. | &nbsp;&nbsp;1398000 | &nbsp;&nbsp;&nbsp;2052292 |
| Tongcheng Travel Holdings, Ltd. | &nbsp;&nbsp;1432400 | &nbsp;&nbsp;&nbsp;3582344 |
| Tongwei Company, Ltd., Class A (B) | &nbsp;&nbsp;&nbsp;&nbsp;107500 | &nbsp;&nbsp;&nbsp;&nbsp;251418 |
| Wens Foodstuff Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;337911 | &nbsp;&nbsp;&nbsp;&nbsp;805856 |
| Wuliangye Yibin Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;14000 | &nbsp;&nbsp;&nbsp;&nbsp;232420 |
| WuXi AppTec Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;252000 | &nbsp;&nbsp;&nbsp;2447717 |
| WuXi AppTec Company, Ltd., H Shares (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;599900 | &nbsp;&nbsp;&nbsp;6035217 |
| Yifeng Pharmacy Chain Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;676694 | &nbsp;&nbsp;&nbsp;2312760 |
| Yunnan Baiyao Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;17180 | &nbsp;&nbsp;&nbsp;&nbsp;133804 |
| Yunnan Yuntianhua Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;655700 | &nbsp;&nbsp;&nbsp;2011010 |
| Zhejiang Glass Company, Ltd., H Shares (B)(D) | &nbsp;&nbsp;&nbsp;&nbsp;162000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Zhejiang Jingxin Pharmaceutical Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;121800 | &nbsp;&nbsp;&nbsp;&nbsp;221930 |
| Zhejiang NHU Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;72432 | &nbsp;&nbsp;&nbsp;&nbsp;215055 |
|  |  | 62316478 |
| **Greece - 0.5%** |  |  |
| Hellenic Telecommunications Organization SA | &nbsp;&nbsp;&nbsp;&nbsp;49291 | &nbsp;&nbsp;&nbsp;&nbsp;937274 |
| OPAP SA | &nbsp;&nbsp;&nbsp;&nbsp;15414 | &nbsp;&nbsp;&nbsp;&nbsp;349525 |
|  |  | &nbsp;&nbsp;&nbsp;1286799 |
| **Hong Kong - 3.7%** |  |  |
| Anxin-China Holdings, Ltd. (B)(D) | &nbsp;&nbsp;1648000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Cathay Pacific Airways, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;719000 | &nbsp;&nbsp;&nbsp;&nbsp;980855 |
| CECEP COSTIN New Materials Group, Ltd. (B)(D) | &nbsp;&nbsp;&nbsp;&nbsp;348000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| China Fiber Optic Network System Group, Ltd. (B)(D) | &nbsp;&nbsp;&nbsp;&nbsp;150800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| China Lumena New Materials Corp. (B)(D) | &nbsp;&nbsp;&nbsp;&nbsp;50900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Geely Automobile Holdings, Ltd. | &nbsp;&nbsp;1675000 | &nbsp;&nbsp;&nbsp;3419016 |
| Hua Han Health Industry Holdings, Ltd. (B)(D) | &nbsp;&nbsp;&nbsp;&nbsp;880000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Mingyuan Medicare Development Company, Ltd. (B)(D) | &nbsp;&nbsp;1300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| WH Group, Ltd. (A) | &nbsp;&nbsp;4600000 | &nbsp;&nbsp;&nbsp;4433443 |
|  |  | &nbsp;&nbsp;&nbsp;8833314 |
| **India - 3.6%** |  |  |
| Bharti Airtel, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;78405 | &nbsp;&nbsp;&nbsp;1837308 |
| Chambal Fertilisers & Chemicals, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;94253 | &nbsp;&nbsp;&nbsp;&nbsp;621969 |
| Chennai Super Kings Cricket, Ltd. (B)(D) | &nbsp;&nbsp;&nbsp;&nbsp;207315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5439 |
| Reliance Industries, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;205378 | &nbsp;&nbsp;&nbsp;3593098 |
| Steel Authority of India, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;766106 | &nbsp;&nbsp;&nbsp;1178551 |
| UPL, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;162304 | &nbsp;&nbsp;&nbsp;1251493 |
| UPL, Ltd., Partly Paid Shares (B) | &nbsp;&nbsp;&nbsp;&nbsp;40883 | &nbsp;&nbsp;&nbsp;&nbsp;205483 |
|  |  | &nbsp;&nbsp;&nbsp;8693341 |
| **Indonesia - 0.0%** |  |  |
| Bakrie Telecom Tbk PT (B)(D) | 17557300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Sri Rejeki Isman Tbk PT (B)(D) | &nbsp;&nbsp;1260900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11339 |
| Suryainti Permata Tbk PT (B)(D) | &nbsp;&nbsp;1446000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Truba Alam Manunggal Engineering PT (B)(D) | 11991500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Waskita Karya Persero Tbk PT (B)(D) | &nbsp;&nbsp;&nbsp;&nbsp;596656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4454 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15793 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 16 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Disciplined Value Emerging Markets Equity Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Israel - 0.6%** |  |  |
| ICL Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;92805 | $&nbsp;&nbsp;&nbsp;&nbsp;637131 |
| ICL Group, Ltd. (New York Stock Exchange) (C) | &nbsp;&nbsp;110863 | &nbsp;&nbsp;&nbsp;&nbsp;762737 |
|  |  | &nbsp;&nbsp;&nbsp;1399868 |
| **Luxembourg - 3.4%** |  |  |
| Millicom International Cellular SA | &nbsp;&nbsp;129313 | &nbsp;&nbsp;&nbsp;4845358 |
| Zabka Group SA (B)(C) | &nbsp;&nbsp;535080 | &nbsp;&nbsp;&nbsp;3216045 |
|  |  | &nbsp;&nbsp;&nbsp;8061403 |
| **Malaysia - 0.1%** |  |  |
| AMMB Holdings BHD | &nbsp;&nbsp;187700 | &nbsp;&nbsp;&nbsp;&nbsp;227419 |
| **Mexico - 5.6%** |  |  |
| Alpek SAB de CV | &nbsp;&nbsp;628900 | &nbsp;&nbsp;&nbsp;&nbsp;343868 |
| America Movil SAB de CV, ADR | &nbsp;&nbsp;&nbsp;&nbsp;14303 | &nbsp;&nbsp;&nbsp;&nbsp;256596 |
| America Movil SAB de CV, Series B | &nbsp;&nbsp;678100 | &nbsp;&nbsp;&nbsp;&nbsp;607108 |
| Arca Continental SAB de CV | &nbsp;&nbsp;&nbsp;&nbsp;18900 | &nbsp;&nbsp;&nbsp;&nbsp;200236 |
| Cemex SAB de CV, ADR | &nbsp;&nbsp;343082 | &nbsp;&nbsp;&nbsp;2377558 |
| Coca-Cola Femsa SAB de CV, ADR | &nbsp;&nbsp;&nbsp;&nbsp;6294 | &nbsp;&nbsp;&nbsp;&nbsp;608819 |
| Fibra Uno Administracion SA de CV | 1293400 | &nbsp;&nbsp;&nbsp;1787993 |
| Genomma Lab Internacional SAB de CV, Class B | &nbsp;&nbsp;212800 | &nbsp;&nbsp;&nbsp;&nbsp;231915 |
| Gruma SAB de CV, Class B | &nbsp;&nbsp;&nbsp;&nbsp;13630 | &nbsp;&nbsp;&nbsp;&nbsp;235076 |
| Grupo Comercial Chedraui SA de CV | &nbsp;&nbsp;&nbsp;&nbsp;78800 | &nbsp;&nbsp;&nbsp;&nbsp;623992 |
| Grupo Financiero Banorte SAB de CV, Series O | &nbsp;&nbsp;389000 | &nbsp;&nbsp;&nbsp;3569608 |
| Grupo KUO SAB de CV, Series B | &nbsp;&nbsp;&nbsp;&nbsp;42698 | &nbsp;&nbsp;&nbsp;&nbsp;100121 |
| Kimberly-Clark de Mexico SAB de CV, Class A | &nbsp;&nbsp;672800 | &nbsp;&nbsp;&nbsp;1233410 |
| Organizacion Soriana SAB de CV, Series B (B) | &nbsp;&nbsp;178000 | &nbsp;&nbsp;&nbsp;&nbsp;265418 |
| Prologis Property Mexico SA de CV | &nbsp;&nbsp;193600 | &nbsp;&nbsp;&nbsp;&nbsp;729953 |
| Vista Energy SAB de CV, ADR (B) | &nbsp;&nbsp;&nbsp;&nbsp;4576 | &nbsp;&nbsp;&nbsp;&nbsp;218779 |
|  |  | 13390450 |
| **Peru - 0.5%** |  |  |
| Credicorp, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;5443 | &nbsp;&nbsp;&nbsp;1216619 |
| **Philippines - 0.0%** |  |  |
| Philtown Properties, Inc. (B)(D) | &nbsp;&nbsp;&nbsp;&nbsp;3844 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Phoenix Petroleum Philippines, Inc. (B)(D) | &nbsp;&nbsp;&nbsp;&nbsp;22200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1315 |
| PNB Holdings Corp. (B)(D) | &nbsp;&nbsp;&nbsp;&nbsp;10246 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1373 |
| **Russia - 0.0%** |  |  |
| Gazprom PJSC, ADR (B)(D) | &nbsp;&nbsp;196506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| LUKOIL PJSC, ADR (B)(D) | &nbsp;&nbsp;&nbsp;&nbsp;16379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Rosneft Oil Company PJSC, GDR (London Stock Exchange) (B)(D) | &nbsp;&nbsp;&nbsp;&nbsp;1686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| RusHydro PJSC, ADR (B)(D) | &nbsp;&nbsp;&nbsp;&nbsp;52278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| VTB Bank PJSC, GDR (B)(D) | &nbsp;&nbsp;&nbsp;&nbsp;86297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| **Saudi Arabia - 2.5%** |  |  |
| Al Rajhi Bank | &nbsp;&nbsp;145709 | &nbsp;&nbsp;&nbsp;3675196 |
| Riyad Bank | &nbsp;&nbsp;259451 | &nbsp;&nbsp;&nbsp;1987541 |
| SABIC Agri-Nutrients Company | &nbsp;&nbsp;&nbsp;&nbsp;9236 | &nbsp;&nbsp;&nbsp;&nbsp;264085 |
|  |  | &nbsp;&nbsp;&nbsp;5926822 |
| **Singapore - 1.7%** |  |  |
| DBS Group Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;20600 | &nbsp;&nbsp;&nbsp;&nbsp;727222 |
| Oversea-Chinese Banking Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;19000 | &nbsp;&nbsp;&nbsp;&nbsp;243643 |
| Singapore Airlines, Ltd. | &nbsp;&nbsp;567200 | &nbsp;&nbsp;&nbsp;3110951 |
|  |  | &nbsp;&nbsp;&nbsp;4081816 |
| **South Africa - 0.4%** |  |  |
| Vodacom Group, Ltd. | &nbsp;&nbsp;124725 | &nbsp;&nbsp;&nbsp;&nbsp;966420 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **South Korea - 13.4%** |  |  |
| Coway Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;20810 | $&nbsp;&nbsp;&nbsp;1487048 |
| Dahaam E-Tec Company, Ltd. (B)(D) | &nbsp;&nbsp;&nbsp;&nbsp;2630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68011 |
| Hana Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;73748 | &nbsp;&nbsp;&nbsp;4697599 |
| Hankook Tire & Technology Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;8123 | &nbsp;&nbsp;&nbsp;&nbsp;238646 |
| Hyundai Mobis Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;31444 | &nbsp;&nbsp;&nbsp;6670788 |
| Hyundai Rotem Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;18104 | &nbsp;&nbsp;&nbsp;2627175 |
| Jeil Savings Bank (B)(D) | &nbsp;&nbsp;&nbsp;&nbsp;1820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Korea Electric Power Corp. | &nbsp;&nbsp;&nbsp;&nbsp;34301 | &nbsp;&nbsp;&nbsp;&nbsp;991203 |
| Korean Air Lines Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;29176 | &nbsp;&nbsp;&nbsp;&nbsp;492873 |
| KT Corp. | &nbsp;&nbsp;&nbsp;&nbsp;56523 | &nbsp;&nbsp;&nbsp;2313552 |
| KT Corp., ADR | &nbsp;&nbsp;119140 | &nbsp;&nbsp;&nbsp;2475729 |
| NAVER Corp. | &nbsp;&nbsp;&nbsp;&nbsp;1636 | &nbsp;&nbsp;&nbsp;&nbsp;317686 |
| Orion Corp. | &nbsp;&nbsp;&nbsp;&nbsp;3958 | &nbsp;&nbsp;&nbsp;&nbsp;318474 |
| Samsung Electro-Mechanics Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;8665 | &nbsp;&nbsp;&nbsp;&nbsp;860916 |
| Samsung Electronics Company, Ltd. | &nbsp;&nbsp;123013 | &nbsp;&nbsp;&nbsp;5439832 |
| Samsung Electronics Company, Ltd., GDR (A) | &nbsp;&nbsp;&nbsp;&nbsp;2081 | &nbsp;&nbsp;&nbsp;2298641 |
| Samsung Fire & Marine Insurance Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;2964 | &nbsp;&nbsp;&nbsp;&nbsp;950369 |
|  |  | 32248542 |
| **Taiwan - 9.1%** |  |  |
| Eva Airways Corp. | &nbsp;&nbsp;174000 | &nbsp;&nbsp;&nbsp;&nbsp;237499 |
| Formosa Plastics Corp. | &nbsp;&nbsp;385000 | &nbsp;&nbsp;&nbsp;&nbsp;459414 |
| Globalwafers Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;22000 | &nbsp;&nbsp;&nbsp;&nbsp;227059 |
| Nan Ya Plastics Corp. | &nbsp;&nbsp;470000 | &nbsp;&nbsp;&nbsp;&nbsp;439117 |
| Nanya Technology Corp. (B) | 1570000 | &nbsp;&nbsp;&nbsp;2751495 |
| Prodisc Technology, Inc. (B)(D) | &nbsp;&nbsp;762000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Taiwan Kolin Company, Ltd. (B)(D) | &nbsp;&nbsp;327000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Taiwan Semiconductor Manufacturing Company, Ltd. | &nbsp;&nbsp;339000 | 12397007 |
| Taiwan Semiconductor Manufacturing Company, Ltd., ADR | &nbsp;&nbsp;&nbsp;&nbsp;12802 | &nbsp;&nbsp;&nbsp;2899525 |
| Tripod Technology Corp. | &nbsp;&nbsp;216000 | &nbsp;&nbsp;&nbsp;1832482 |
| Wintek Corp. (B)(D) | &nbsp;&nbsp;543000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| WT Microelectronics Company, Ltd. | &nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;660266 |
|  |  | 21903864 |
| **Thailand - 0.8%** |  |  |
| Cal-Comp Electronics Thailand PCL | &nbsp;&nbsp;145292 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24475 |
| Com7 PCL, NVDR | 1005700 | &nbsp;&nbsp;&nbsp;&nbsp;573165 |
| CP ALL PCL, NVDR | &nbsp;&nbsp;149300 | &nbsp;&nbsp;&nbsp;&nbsp;202221 |
| Indorama Ventures PCL, NVDR | 1884600 | &nbsp;&nbsp;&nbsp;1177948 |
| Polyplex Thailand PCL | &nbsp;&nbsp;&nbsp;&nbsp;14000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4285 |
| Star Petroleum Refining PCL | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15538 |
|  |  | &nbsp;&nbsp;&nbsp;1997632 |
| **Turkey - 0.0%** |  |  |
| Goldas Kuyumculuk Sanayi Ithalat Ve Bagli Ortakliklari (B)(D) | &nbsp;&nbsp;&nbsp;&nbsp;54846 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Uzel Makina Sanayii AS (B)(D) | &nbsp;&nbsp;&nbsp;&nbsp;22930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| **United Arab Emirates - 2.4%** |  |  |
| Abu Dhabi Commercial Bank PJSC | &nbsp;&nbsp;596112 | &nbsp;&nbsp;&nbsp;2188043 |
| Abu Dhabi Islamic Bank PJSC | &nbsp;&nbsp;389893 | &nbsp;&nbsp;&nbsp;2282735 |
| Emaar Properties PJSC | &nbsp;&nbsp;338739 | &nbsp;&nbsp;&nbsp;1256599 |
|  |  | &nbsp;&nbsp;&nbsp;5727377 |
| **United Kingdom - 0.9%** |  |  |
| Hikma Pharmaceuticals PLC | &nbsp;&nbsp;&nbsp;&nbsp;24639 | &nbsp;&nbsp;&nbsp;&nbsp;672372 |
| Pepco Group NV | &nbsp;&nbsp;262519 | &nbsp;&nbsp;&nbsp;1580560 |
|  |  | &nbsp;&nbsp;&nbsp;2252932 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 17 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Disciplined Value Emerging Markets Equity Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **United States - 1.8%** |  |  |
| Monolithic Power Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2503 | $&nbsp;&nbsp;&nbsp;&nbsp;1830644 |
| The Mosaic Company | &nbsp;&nbsp;&nbsp;&nbsp;69329 | &nbsp;&nbsp;&nbsp;&nbsp;2529122 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;4359766 |
| TOTAL COMMON STOCKS (Cost $189,298,365) | TOTAL COMMON STOCKS (Cost $189,298,365) | $209662889 |
| **PREFERRED SECURITIES - 4.6%** | **PREFERRED SECURITIES - 4.6%** |  |
| **Brazil - 1.7%** |  |  |
| Itau Unibanco Holding SA | &nbsp;&nbsp;&nbsp;&nbsp;592900 | &nbsp;&nbsp;&nbsp;&nbsp;4032257 |
| **Philippines - 0.0%** |  |  |
| Cebu Air, Inc., 6.000% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4989 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3402 |
| **South Korea - 2.9%** |  |  |
| Samsung Electronics Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;189982 | &nbsp;&nbsp;&nbsp;&nbsp;6969472 |
| TOTAL PREFERRED SECURITIES (Cost $10,079,114) | TOTAL PREFERRED SECURITIES (Cost $10,079,114) | $&nbsp;&nbsp;&nbsp;11005131 |
| **SHORT-TERM INVESTMENTS - 7.3%** | **SHORT-TERM INVESTMENTS - 7.3%** |  |
| **Short-term funds - 7.3%** |  |  |
| Fidelity Government Portfolio, Institutional Class, 4.2300% (E) | 10231688 | &nbsp;&nbsp;&nbsp;10231688 |
| John Hancock Collateral Trust, 4.2596% (E)(F) | &nbsp;&nbsp;&nbsp;&nbsp;729589 | &nbsp;&nbsp;&nbsp;&nbsp;7297642 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $17,529,299) | TOTAL SHORT-TERM INVESTMENTS (Cost $17,529,299) | $&nbsp;&nbsp;&nbsp;17529330 |
| **Total Investments (Disciplined Value Emerging Markets Equity Trust)<br> (Cost $216,906,778) - 99.2%** | **Total Investments (Disciplined Value Emerging Markets Equity Trust)<br> (Cost $216,906,778) - 99.2%** | $**238197350** |
| **Other assets and liabilities, net - 0.8%** | **Other assets and liabilities, net - 0.8%** | &nbsp;&nbsp;&nbsp;&nbsp;**1983904** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $**240181254** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| ADR | American Depositary Receipt |
| GDR | Global Depositary Receipt |
| NVDR | Non-Voting Depositary Receipt |
| (A) | This security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. |
| (B) | Non-income producing security. |
| (C) | All or a portion of this security is on loan as of 6-30-25. |
| (D) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements. |
| (E) | The rate shown is the annualized seven-day yield as of 6-30-25. |
| (F) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |

---

#### DERIVATIVES

#### SWAPS

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Total return swaps** | **Total return swaps** | **Total return swaps** | **Total return swaps** | **Total return swaps** | **Total return swaps** | **Total return swaps** | **Total return swaps** | **Total return swaps** | **Total return swaps** | **Total return swaps** |
| **Pay/<br> receive<br> total<br> return\*** | &nbsp;&nbsp;**Reference<br> entity** | &nbsp;&nbsp;**Floating/<br> fixed<br> rate** | &nbsp;&nbsp;**Payment<br> frequency** | &nbsp;&nbsp;**Currency** | &nbsp;&nbsp;**Notional<br> amount** | &nbsp;&nbsp;**Maturity<br> date** | &nbsp;&nbsp;**Counterparty<br> (OTC)** | &nbsp;&nbsp;**Unamortized<br> upfront<br> payment paid<br> (received)** | &nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** | &nbsp;&nbsp;**Value** |
| Receive | &nbsp;&nbsp;Jeronimo Martins SGPS SA | &nbsp;&nbsp;EUR ESTR Compounded OIS + 0.35% | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;EUR | &nbsp;&nbsp;2141175 | &nbsp;&nbsp;Dec 2027 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;— | &nbsp;&nbsp;$312380 | &nbsp;&nbsp;$312380 |
|  |  |  |  |  |  |  |  | &nbsp;&nbsp;**—** | &nbsp;&nbsp;**$312380** | &nbsp;&nbsp;**$312380** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

\* Fund will pay or receive the total return of the reference asset depending on whether the return is positive or negative. For contracts where the fund has elected to receive the total return of the reference asset if positive, it will be responsible for paying the floating rate and the total return of the reference asset if negative. If the fund has elected to pay the total return of the reference asset if positive, it will receive the floating rate and the total return of the reference asset if negative.

<u>Derivatives Currency Abbreviations</u> <br> EUR Euro

---

| | |
|:---|:---|
| <u>Derivatives Abbreviations</u> | <u>Derivatives Abbreviations</u> |
| ESTR | Euro Short-Term Rate |
| HSBC | HSBC Bank PLC |
| OIS | Overnight Index Swap |
| OTC | Over-the-counter |

---

&nbsp;&nbsp;&nbsp;&nbsp;

See Notes to financial statements regarding investment transactions and other derivatives information.

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 18 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Disciplined Value International Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS - 97.1%** | **COMMON STOCKS - 97.1%** |  |
| **Austria - 0.6%** |  |  |
| ANDRITZ AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23762 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1769745 |
| **Bermuda - 2.4%** |  |  |
| Everest Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1750907 |
| Hiscox, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315247 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5441333 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7192240 |
| **Canada - 7.0%** |  |  |
| Allied Gold Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142927 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1918638 |
| Cenovus Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3880312 |
| Hammond Power Solutions, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;847038 |
| Kinross Gold Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1007470 |
| MEG Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2816176 |
| Nutrien, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4560899 |
| Sandstorm Gold, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1455735 |
| Teck Resources, Ltd., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4753147 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21239415 |
| **China - 2.0%** |  |  |
| Alibaba Group Holding, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;421800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5970975 |
| **Denmark - 2.2%** |  |  |
| Danske Bank A/S | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6679881 |
| **Finland - 1.7%** |  |  |
| Nordea Bank ABP (Nasdaq Stockholm Exchange) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;341104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5067449 |
| **France - 10.5%** |  |  |
| BNP Paribas SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17287 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1550677 |
| Bureau Veritas SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4138722 |
| Capgemini SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29339 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5023918 |
| Eiffage SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15964 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2243160 |
| Eurazeo SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1755151 |
| Ipsen SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1570930 |
| Rexel SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37004 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1141305 |
| Sanofi SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3150424 |
| SPIE SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5512514 |
| Vallourec SACA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;304731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5621150 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31707951 |
| **Germany - 1.9%** |  |  |
| Evonik Industries AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1238526 |
| Infineon Technologies AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1556039 |
| Siemens AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2991893 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5786458 |
| **Hong Kong - 2.2%** |  |  |
| CK Hutchison Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;312000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1921196 |
| Prudential PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;388386 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4861119 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6782315 |
| **India - 1.2%** |  |  |
| HDFC Bank, Ltd., ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45683 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3502516 |
| **Ireland - 1.1%** |  |  |
| AIB Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;399448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3296592 |
| **Italy - 4.4%** |  |  |
| Enel SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;607672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5767252 |
| Iveco Group NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3087595 |
| Saipem SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1625704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4444360 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13299207 |
| **Japan - 14.9%** |  |  |
| Asahi Group Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2783038 |
| Fuji Electric Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3656520 |
| Hitachi, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2586725 |
| IHI Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2238988 |
| Kyocera Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2470530 |
| Mitsubishi Chemical Group Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;422100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2218567 |
| Mitsubishi Electric Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3837200 |
| Mitsubishi UFJ Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;640779 |

---

#### Disciplined Value International Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Japan (continued)** |  |  |
| Sony Group Corp. | 147200 | $&nbsp;&nbsp;&nbsp;&nbsp;3827245 |
| Sugi Holdings Company, Ltd. | 127800 | &nbsp;&nbsp;&nbsp;&nbsp;2921529 |
| Sumitomo Mitsui Financial Group, Inc. | 149800 | &nbsp;&nbsp;&nbsp;&nbsp;3772107 |
| Suzuken Company, Ltd. | &nbsp;&nbsp;64000 | &nbsp;&nbsp;&nbsp;&nbsp;2314068 |
| Suzuki Motor Corp. | 275500 | &nbsp;&nbsp;&nbsp;&nbsp;3321491 |
| Tokyo Electron, Ltd. | &nbsp;&nbsp;27500 | &nbsp;&nbsp;&nbsp;&nbsp;5266507 |
| Toyo Suisan Kaisha, Ltd. | &nbsp;&nbsp;23300 | &nbsp;&nbsp;&nbsp;&nbsp;1548683 |
| Toyo Tire Corp. | &nbsp;&nbsp;72600 | &nbsp;&nbsp;&nbsp;&nbsp;1537738 |
|  |  | &nbsp;&nbsp;&nbsp;44941715 |
| **Luxembourg - 1.0%** |  |  |
| Millicom International Cellular SA | &nbsp;&nbsp;76767 | &nbsp;&nbsp;&nbsp;&nbsp;2876459 |
| **Mexico - 2.2%** |  |  |
| America Movil SAB de CV, ADR | 122033 | &nbsp;&nbsp;&nbsp;&nbsp;2189272 |
| Coca-Cola Femsa SAB de CV, ADR | &nbsp;&nbsp;46840 | &nbsp;&nbsp;&nbsp;&nbsp;4530833 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;6720105 |
| **Netherlands - 5.6%** |  |  |
| Euronext NV (C) | &nbsp;&nbsp;39224 | &nbsp;&nbsp;&nbsp;&nbsp;6720733 |
| Heineken NV | &nbsp;&nbsp;80947 | &nbsp;&nbsp;&nbsp;&nbsp;7062062 |
| Prosus NV (A) | &nbsp;&nbsp;58136 | &nbsp;&nbsp;&nbsp;&nbsp;3261814 |
|  |  | &nbsp;&nbsp;&nbsp;17044609 |
| **Norway - 0.7%** |  |  |
| Norsk Hydro ASA | 388607 | &nbsp;&nbsp;&nbsp;&nbsp;2225319 |
| **South Korea - 8.3%** |  |  |
| HD Korea Shipbuilding & Offshore Engineering Company, Ltd. | &nbsp;&nbsp;&nbsp;9275 | &nbsp;&nbsp;&nbsp;&nbsp;2504628 |
| KB Financial Group, Inc. | &nbsp;&nbsp;30042 | &nbsp;&nbsp;&nbsp;&nbsp;2468740 |
| KT Corp. | &nbsp;&nbsp;82529 | &nbsp;&nbsp;&nbsp;&nbsp;3378008 |
| KT Corp., ADR | 101043 | &nbsp;&nbsp;&nbsp;&nbsp;2099674 |
| NAVER Corp. | &nbsp;&nbsp;35507 | &nbsp;&nbsp;&nbsp;&nbsp;6894921 |
| Samsung Electronics Company, Ltd. | 106973 | &nbsp;&nbsp;&nbsp;&nbsp;4730518 |
| Samsung Fire & Marine Insurance Company, Ltd. | &nbsp;&nbsp;&nbsp;9236 | &nbsp;&nbsp;&nbsp;&nbsp;2961407 |
|  |  | &nbsp;&nbsp;&nbsp;25037896 |
| **Spain - 3.3%** |  |  |
| Banco Bilbao Vizcaya Argentaria SA | 345966 | &nbsp;&nbsp;&nbsp;&nbsp;5327292 |
| Banco Santander SA | 579755 | &nbsp;&nbsp;&nbsp;&nbsp;4800892 |
|  |  | &nbsp;&nbsp;&nbsp;10128184 |
| **Switzerland - 3.5%** |  |  |
| Novartis AG | &nbsp;&nbsp;35511 | &nbsp;&nbsp;&nbsp;&nbsp;4310222 |
| Sandoz Group AG | 116172 | &nbsp;&nbsp;&nbsp;&nbsp;6366618 |
|  |  | &nbsp;&nbsp;&nbsp;10676840 |
| **United Kingdom - 19.6%** |  |  |
| AstraZeneca PLC | &nbsp;&nbsp;35556 | &nbsp;&nbsp;&nbsp;&nbsp;4948284 |
| Babcock International Group PLC | 349286 | &nbsp;&nbsp;&nbsp;&nbsp;5501211 |
| BAE Systems PLC | 346357 | &nbsp;&nbsp;&nbsp;&nbsp;8988931 |
| Barratt Redrow PLC | 417877 | &nbsp;&nbsp;&nbsp;&nbsp;2616734 |
| Beazley PLC | 232704 | &nbsp;&nbsp;&nbsp;&nbsp;2987914 |
| Endeavour Mining PLC | &nbsp;&nbsp;76337 | &nbsp;&nbsp;&nbsp;&nbsp;2353876 |
| Hikma Pharmaceuticals PLC | 134754 | &nbsp;&nbsp;&nbsp;&nbsp;3677293 |
| HSBC Holdings PLC | 201306 | &nbsp;&nbsp;&nbsp;&nbsp;2435027 |
| IMI PLC | 109530 | &nbsp;&nbsp;&nbsp;&nbsp;3151732 |
| Informa PLC | 212279 | &nbsp;&nbsp;&nbsp;&nbsp;2350176 |
| NatWest Group PLC | 187801 | &nbsp;&nbsp;&nbsp;&nbsp;1318914 |
| Nomad Foods, Ltd. | 206251 | &nbsp;&nbsp;&nbsp;&nbsp;3504204 |
| Shell PLC | 196457 | &nbsp;&nbsp;&nbsp;&nbsp;6854271 |
| The Weir Group PLC | 251746 | &nbsp;&nbsp;&nbsp;&nbsp;8609611 |
|  |  | &nbsp;&nbsp;&nbsp;59298178 |
| **United States - 0.8%** |  |  |
| CRH PLC (London Stock Exchange) | &nbsp;&nbsp;26321 | &nbsp;&nbsp;&nbsp;&nbsp;2429677 |
| TOTAL COMMON STOCKS (Cost $248,124,138) | TOTAL COMMON STOCKS (Cost $248,124,138) | $293673726 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 19 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Disciplined Value International Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **SHORT-TERM INVESTMENTS - 1.9%** | **SHORT-TERM INVESTMENTS - 1.9%** |  |
| **Short-term funds - 1.9%** |  |  |
| Fidelity Government Portfolio, Institutional Class, 4.2300% (D) | 5641359 | $&nbsp;&nbsp;&nbsp;&nbsp;5641359 |
| John Hancock Collateral Trust, 4.2596% (D)(E) | &nbsp;&nbsp;&nbsp;&nbsp;4614 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46150 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $5,687,509) | TOTAL SHORT-TERM INVESTMENTS (Cost $5,687,509) | $&nbsp;&nbsp;&nbsp;&nbsp;5687509 |
| **Total Investments (Disciplined Value International Trust)<br> (Cost $253,811,647) - 99.0%** | **Total Investments (Disciplined Value International Trust)<br> (Cost $253,811,647) - 99.0%** | $**299361235** |
| **Other assets and liabilities, net - 1.0%** | **Other assets and liabilities, net - 1.0%** | &nbsp;&nbsp;&nbsp;&nbsp;**3110156** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $**302471391** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| ADR | American Depositary Receipt |
| (A) | Non-income producing security. |
| (B) | All or a portion of this security is on loan as of 6-30-25. |
| (C) | This security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. |
| (D) | The rate shown is the annualized seven-day yield as of 6-30-25. |
| (E) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |

---

#### Equity Income Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS – 97.2%** | **COMMON STOCKS – 97.2%** |  |
| **Communication services – 5.9%** |  |  |
| **Diversified telecommunication services – 0.4%** | **Diversified telecommunication services – 0.4%** |  |
| AT&T, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39383 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1139744 |
| Verizon Communications, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2072200 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3211944 |
| **Entertainment – 1.1%** | **Entertainment – 1.1%** |  |
| The Walt Disney Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73087 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9063519 |
| **Interactive media and services – 2.7%** | **Interactive media and services – 2.7%** |  |
| Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56338 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9928446 |
| Alphabet, Inc., Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43718 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7755136 |
| Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4667681 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22351263 |
| **Media – 1.7%** | **Media – 1.7%** |  |
| Comcast Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4717897 |
| News Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;299466 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8900130 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13618027 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48244753 |
| **Consumer discretionary – 3.9%** |  |  |
| **Broadline retail – 1.6%** | **Broadline retail – 1.6%** |  |
| Amazon.com, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62272 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13661854 |
| **Hotels, restaurants and leisure – 1.1%** | **Hotels, restaurants and leisure – 1.1%** |  |
| Las Vegas Sands Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8847976 |
| **Leisure products – 0.4%** | **Leisure products – 0.4%** |  |
| Mattel, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170673 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3365672 |
| **Specialty retail – 0.8%** | **Specialty retail – 0.8%** |  |
| The Home Depot, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6448464 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32323966 |

---

#### Equity Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Consumer staples – 8.8%** |  |  |
| **Beverages – 0.1%** | **Beverages – 0.1%** |  |
| Keurig Dr. Pepper, Inc. | &nbsp;&nbsp;21009 | $&nbsp;&nbsp;&nbsp;&nbsp;694558 |
| **Consumer staples distribution and retail – 0.9%** | **Consumer staples distribution and retail – 0.9%** |  |
| Dollar General Corp. | &nbsp;&nbsp;20134 | &nbsp;&nbsp;&nbsp;2302927 |
| Walmart, Inc. | &nbsp;&nbsp;51627 | &nbsp;&nbsp;&nbsp;5048088 |
|  |  | &nbsp;&nbsp;&nbsp;7351015 |
| **Food products – 1.1%** | **Food products – 1.1%** |  |
| Conagra Brands, Inc. | 121501 | &nbsp;&nbsp;&nbsp;2487125 |
| Tyson Foods, Inc., Class A | 111018 | &nbsp;&nbsp;&nbsp;6210347 |
|  |  | &nbsp;&nbsp;&nbsp;8697472 |
| **Household products – 3.9%** | **Household products – 3.9%** |  |
| Colgate-Palmolive Company | 100514 | &nbsp;&nbsp;&nbsp;9136723 |
| Kimberly-Clark Corp. | 108498 | 13987563 |
| The Procter & Gamble Company | &nbsp;&nbsp;54746 | &nbsp;&nbsp;&nbsp;8722133 |
|  |  | 31846419 |
| **Personal care products – 1.3%** | **Personal care products – 1.3%** |  |
| Kenvue, Inc. | 533257 | 11161069 |
| **Tobacco – 1.5%** | **Tobacco – 1.5%** |  |
| Philip Morris International, Inc. | &nbsp;&nbsp;70061 | 12760210 |
|  |  | 72510743 |
| **Energy – 8.7%** |  |  |
| **Energy equipment and services – 0.7%** | **Energy equipment and services – 0.7%** |  |
| Schlumberger, Ltd. | 161383 | &nbsp;&nbsp;&nbsp;5454745 |
| **Oil, gas and consumable fuels – 8.0%** | **Oil, gas and consumable fuels – 8.0%** |  |
| Chevron Corp. | &nbsp;&nbsp;14260 | &nbsp;&nbsp;&nbsp;2041889 |
| ConocoPhillips | 119042 | 10682829 |
| EOG Resources, Inc. | &nbsp;&nbsp;26004 | &nbsp;&nbsp;&nbsp;3110338 |
| EQT Corp. | &nbsp;&nbsp;81067 | &nbsp;&nbsp;&nbsp;4727827 |
| Expand Energy Corp. | &nbsp;&nbsp;38229 | &nbsp;&nbsp;&nbsp;4470499 |
| Exxon Mobil Corp. | &nbsp;&nbsp;99550 | 10731490 |
| Hess Corp. | &nbsp;&nbsp;19172 | &nbsp;&nbsp;&nbsp;2656089 |
| Phillips 66 | &nbsp;&nbsp;29589 | &nbsp;&nbsp;&nbsp;3529968 |
| South Bow Corp. (B) | 136012 | &nbsp;&nbsp;&nbsp;3530769 |
| TC Energy Corp. (B) | &nbsp;&nbsp;71079 | &nbsp;&nbsp;&nbsp;3467944 |
| The Williams Companies, Inc. | &nbsp;&nbsp;79618 | &nbsp;&nbsp;&nbsp;5000807 |
| TotalEnergies SE | 174411 | 10660467 |
| TotalEnergies SE, ADR | &nbsp;&nbsp;29915 | &nbsp;&nbsp;&nbsp;1836482 |
|  |  | 66447398 |
|  |  | 71902143 |
| **Financials – 22.8%** |  |  |
| **Banks – 9.4%** | **Banks – 9.4%** |  |
| Bank of America Corp. | 187834 | &nbsp;&nbsp;&nbsp;8888305 |
| Citigroup, Inc. | 166490 | 14171629 |
| Fifth Third Bancorp | 194099 | &nbsp;&nbsp;&nbsp;7983292 |
| Huntington Bancshares, Inc. | 488721 | &nbsp;&nbsp;&nbsp;8190964 |
| JPMorgan Chase & Co. | &nbsp;&nbsp;53421 | 15487282 |
| U.S. Bancorp | 163234 | &nbsp;&nbsp;&nbsp;7386339 |
| Wells Fargo & Company | 191544 | 15346505 |
|  |  | 77454316 |
| **Capital markets – 2.7%** | **Capital markets – 2.7%** |  |
| Morgan Stanley | &nbsp;&nbsp;13494 | &nbsp;&nbsp;&nbsp;1900765 |
| State Street Corp. | &nbsp;&nbsp;38771 | &nbsp;&nbsp;&nbsp;4122908 |
| The Charles Schwab Corp. | 171061 | 15607606 |
|  |  | 21631279 |
| **Financial services – 3.2%** | **Financial services – 3.2%** |  |
| Apollo Global Management, Inc. | &nbsp;&nbsp;15201 | &nbsp;&nbsp;&nbsp;2156566 |
| Corebridge Financial, Inc. | 100035 | &nbsp;&nbsp;&nbsp;3551243 |
| Equitable Holdings, Inc. | 226470 | 12704967 |
| Fiserv, Inc. (A) | &nbsp;&nbsp;41161 | &nbsp;&nbsp;&nbsp;7096568 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 20 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Equity Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Financial services (continued)** | **Financial services (continued)** |  |
| Global Payments, Inc. | &nbsp;&nbsp;12794 | $&nbsp;&nbsp;&nbsp;&nbsp;1024032 |
|  |  | &nbsp;&nbsp;&nbsp;26533376 |
| **Insurance – 7.5%** | **Insurance – 7.5%** |  |
| American International Group, Inc. | 113954 | &nbsp;&nbsp;&nbsp;&nbsp;9753323 |
| Chubb, Ltd. | &nbsp;&nbsp;43591 | &nbsp;&nbsp;&nbsp;12629185 |
| Loews Corp. | &nbsp;&nbsp;87972 | &nbsp;&nbsp;&nbsp;&nbsp;8063514 |
| MetLife, Inc. | 219442 | &nbsp;&nbsp;&nbsp;17647526 |
| The Allstate Corp. | &nbsp;&nbsp;23715 | &nbsp;&nbsp;&nbsp;&nbsp;4774067 |
| The Hartford Insurance Group, Inc. | &nbsp;&nbsp;72283 | &nbsp;&nbsp;&nbsp;&nbsp;9170544 |
|  |  | &nbsp;&nbsp;&nbsp;62038159 |
|  |  | 187657130 |
| **Health care – 12.7%** |  |  |
| **Biotechnology – 0.3%** | **Biotechnology – 0.3%** |  |
| Biogen, Inc. (A) | &nbsp;&nbsp;16193 | &nbsp;&nbsp;&nbsp;&nbsp;2033679 |
| **Health care equipment and supplies – 3.5%** | **Health care equipment and supplies – 3.5%** |  |
| Becton, Dickinson and Company | &nbsp;&nbsp;64874 | &nbsp;&nbsp;&nbsp;11174541 |
| Medtronic PLC | &nbsp;&nbsp;75774 | &nbsp;&nbsp;&nbsp;&nbsp;6605220 |
| Zimmer Biomet Holdings, Inc. | 118536 | &nbsp;&nbsp;&nbsp;10811669 |
|  |  | &nbsp;&nbsp;&nbsp;28591430 |
| **Health care providers and services – 5.2%** | **Health care providers and services – 5.2%** |  |
| Cardinal Health, Inc. | &nbsp;&nbsp;&nbsp;4829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;811272 |
| CVS Health Corp. | 155301 | &nbsp;&nbsp;&nbsp;10712663 |
| Elevance Health, Inc. | &nbsp;&nbsp;38358 | &nbsp;&nbsp;&nbsp;14919728 |
| Humana, Inc. | &nbsp;&nbsp;&nbsp;4143 | &nbsp;&nbsp;&nbsp;&nbsp;1012881 |
| The Cigna Group | &nbsp;&nbsp;27398 | &nbsp;&nbsp;&nbsp;&nbsp;9057231 |
| UnitedHealth Group, Inc. | &nbsp;&nbsp;20425 | &nbsp;&nbsp;&nbsp;&nbsp;6371987 |
|  |  | &nbsp;&nbsp;&nbsp;42885762 |
| **Life sciences tools and services – 0.4%** | **Life sciences tools and services – 0.4%** |  |
| Thermo Fisher Scientific, Inc. | &nbsp;&nbsp;&nbsp;8710 | &nbsp;&nbsp;&nbsp;&nbsp;3531557 |
| **Pharmaceuticals – 3.3%** | **Pharmaceuticals – 3.3%** |  |
| AstraZeneca PLC, ADR | &nbsp;&nbsp;68530 | &nbsp;&nbsp;&nbsp;&nbsp;4788876 |
| Bristol-Myers Squibb Company | &nbsp;&nbsp;67815 | &nbsp;&nbsp;&nbsp;&nbsp;3139156 |
| Johnson & Johnson | &nbsp;&nbsp;24240 | &nbsp;&nbsp;&nbsp;&nbsp;3702660 |
| Merck & Company, Inc. | &nbsp;&nbsp;63649 | &nbsp;&nbsp;&nbsp;&nbsp;5038455 |
| Sanofi SA | &nbsp;&nbsp;35705 | &nbsp;&nbsp;&nbsp;&nbsp;3456735 |
| Sanofi SA, ADR | &nbsp;&nbsp;39223 | &nbsp;&nbsp;&nbsp;&nbsp;1894863 |
| Viatris, Inc. | 622311 | &nbsp;&nbsp;&nbsp;&nbsp;5557237 |
|  |  | &nbsp;&nbsp;&nbsp;27577982 |
|  |  | 104620410 |
| **Industrials – 13.0%** |  |  |
| **Aerospace and defense – 4.4%** | **Aerospace and defense – 4.4%** |  |
| General Electric Company | &nbsp;&nbsp;41058 | &nbsp;&nbsp;&nbsp;10567919 |
| L3Harris Technologies, Inc. | &nbsp;&nbsp;57136 | &nbsp;&nbsp;&nbsp;14331994 |
| The Boeing Company (A) | &nbsp;&nbsp;53608 | &nbsp;&nbsp;&nbsp;11232484 |
|  |  | &nbsp;&nbsp;&nbsp;36132397 |
| **Air freight and logistics – 0.8%** | **Air freight and logistics – 0.8%** |  |
| United Parcel Service, Inc., Class B | &nbsp;&nbsp;66205 | &nbsp;&nbsp;&nbsp;&nbsp;6682733 |
| **Electrical equipment – 0.6%** | **Electrical equipment – 0.6%** |  |
| Rockwell Automation, Inc. | &nbsp;&nbsp;16206 | &nbsp;&nbsp;&nbsp;&nbsp;5383147 |
| **Ground transportation – 1.6%** | **Ground transportation – 1.6%** |  |
| CSX Corp. | 240981 | &nbsp;&nbsp;&nbsp;&nbsp;7863210 |
| Norfolk Southern Corp. | &nbsp;&nbsp;20274 | &nbsp;&nbsp;&nbsp;&nbsp;5189536 |
|  |  | &nbsp;&nbsp;&nbsp;13052746 |
| **Industrial conglomerates – 1.6%** | **Industrial conglomerates – 1.6%** |  |
| 3M Company | &nbsp;&nbsp;15092 | &nbsp;&nbsp;&nbsp;&nbsp;2297606 |
| Siemens AG | &nbsp;&nbsp;41374 | &nbsp;&nbsp;&nbsp;10627257 |
|  |  | &nbsp;&nbsp;&nbsp;12924863 |
| **Machinery – 2.8%** | **Machinery – 2.8%** |  |
| AGCO Corp. | &nbsp;&nbsp;34312 | &nbsp;&nbsp;&nbsp;&nbsp;3539626 |
| Cummins, Inc. | &nbsp;&nbsp;14882 | &nbsp;&nbsp;&nbsp;&nbsp;4873855 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Machinery (continued)** | **Machinery (continued)** |  |
| Fortive Corp. | 101734 | $&nbsp;&nbsp;&nbsp;&nbsp;5303393 |
| Stanley Black & Decker, Inc. | 136035 | &nbsp;&nbsp;&nbsp;&nbsp;9216371 |
|  |  | &nbsp;&nbsp;&nbsp;22933245 |
| **Passenger airlines – 1.0%** | **Passenger airlines – 1.0%** |  |
| Southwest Airlines Company | 264003 | &nbsp;&nbsp;&nbsp;&nbsp;8564257 |
| **Trading companies and distributors – 0.2%** | **Trading companies and distributors – 0.2%** |  |
| Ferguson Enterprises, Inc. | &nbsp;&nbsp;&nbsp;6713 | &nbsp;&nbsp;&nbsp;&nbsp;1461756 |
|  |  | 107135144 |
| **Information technology – 9.0%** |  |  |
| **Electronic equipment, instruments and components – 0.4%** | **Electronic equipment, instruments and components – 0.4%** |  |
| Ralliant Corp. (A) | &nbsp;&nbsp;33911 | &nbsp;&nbsp;&nbsp;&nbsp;1644361 |
| TE Connectivity PLC | &nbsp;&nbsp;11037 | &nbsp;&nbsp;&nbsp;&nbsp;1861611 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;3505972 |
| **IT services – 0.8%** | **IT services – 0.8%** |  |
| Accenture PLC, Class A | &nbsp;&nbsp;23219 | &nbsp;&nbsp;&nbsp;&nbsp;6939927 |
| **Semiconductors and semiconductor equipment – 4.5%** | **Semiconductors and semiconductor equipment – 4.5%** |  |
| Advanced Micro Devices, Inc. (A) | &nbsp;&nbsp;27274 | &nbsp;&nbsp;&nbsp;&nbsp;3870181 |
| Applied Materials, Inc. | &nbsp;&nbsp;30505 | &nbsp;&nbsp;&nbsp;&nbsp;5584550 |
| Intel Corp. | 130725 | &nbsp;&nbsp;&nbsp;&nbsp;2928240 |
| Qualcomm, Inc. | 101691 | &nbsp;&nbsp;&nbsp;16195309 |
| Texas Instruments, Inc. | &nbsp;&nbsp;40704 | &nbsp;&nbsp;&nbsp;&nbsp;8450964 |
|  |  | &nbsp;&nbsp;&nbsp;37029244 |
| **Software – 2.4%** | **Software – 2.4%** |  |
| Adobe, Inc. (A) | &nbsp;&nbsp;&nbsp;5980 | &nbsp;&nbsp;&nbsp;&nbsp;2313542 |
| Microsoft Corp. | &nbsp;&nbsp;17671 | &nbsp;&nbsp;&nbsp;&nbsp;8789732 |
| Salesforce, Inc. | &nbsp;&nbsp;33131 | &nbsp;&nbsp;&nbsp;&nbsp;9034492 |
|  |  | &nbsp;&nbsp;&nbsp;20137766 |
| **Technology hardware, storage and peripherals – 0.9%** | **Technology hardware, storage and peripherals – 0.9%** |  |
| Samsung Electronics Company, Ltd. | 158218 | &nbsp;&nbsp;&nbsp;&nbsp;6996654 |
|  |  | &nbsp;&nbsp;&nbsp;74609563 |
| **Materials – 3.0%** |  |  |
| **Chemicals – 1.4%** | **Chemicals – 1.4%** |  |
| CF Industries Holdings, Inc. | 123824 | &nbsp;&nbsp;&nbsp;11391808 |
| **Containers and packaging – 1.3%** | **Containers and packaging – 1.3%** |  |
| International Paper Company | 230735 | &nbsp;&nbsp;&nbsp;10805320 |
| **Paper and forest products – 0.3%** | **Paper and forest products – 0.3%** |  |
| West Fraser Timber Company, Ltd. (B) | &nbsp;&nbsp;38940 | &nbsp;&nbsp;&nbsp;&nbsp;2854302 |
|  |  | &nbsp;&nbsp;&nbsp;25051430 |
| **Real estate – 3.6%** |  |  |
| **Industrial REITs – 0.5%** | **Industrial REITs – 0.5%** |  |
| Rexford Industrial Realty, Inc. | 118539 | &nbsp;&nbsp;&nbsp;&nbsp;4216432 |
| **Residential REITs – 1.6%** | **Residential REITs – 1.6%** |  |
| Equity Residential | 178448 | &nbsp;&nbsp;&nbsp;12043456 |
| Sun Communities, Inc. | &nbsp;&nbsp;11505 | &nbsp;&nbsp;&nbsp;&nbsp;1455267 |
|  |  | &nbsp;&nbsp;&nbsp;13498723 |
| **Specialized REITs – 1.5%** | **Specialized REITs – 1.5%** |  |
| Rayonier, Inc. | 178816 | &nbsp;&nbsp;&nbsp;&nbsp;3966139 |
| Weyerhaeuser Company | 321556 | &nbsp;&nbsp;&nbsp;&nbsp;8260774 |
|  |  | &nbsp;&nbsp;&nbsp;12226913 |
|  |  | &nbsp;&nbsp;&nbsp;29942068 |
| **Utilities – 5.8%** |  |  |
| **Electric utilities – 3.0%** | **Electric utilities – 3.0%** |  |
| NextEra Energy, Inc. | &nbsp;&nbsp;74137 | &nbsp;&nbsp;&nbsp;&nbsp;5146591 |
| PG&E Corp. | &nbsp;&nbsp;31380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;437437 |
| The Southern Company | 184260 | &nbsp;&nbsp;&nbsp;16920596 |
| Xcel Energy, Inc. | &nbsp;&nbsp;26401 | &nbsp;&nbsp;&nbsp;&nbsp;1797908 |
|  |  | &nbsp;&nbsp;&nbsp;24302532 |
| **Multi-utilities – 2.8%** | **Multi-utilities – 2.8%** |  |
| Ameren Corp. | 106549 | &nbsp;&nbsp;&nbsp;10232966 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 21 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Equity Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Multi-utilities (continued)** | **Multi-utilities (continued)** |  |
| Dominion Energy, Inc. | &nbsp;&nbsp;107522 | $&nbsp;&nbsp;&nbsp;&nbsp;6077143 |
| Sempra | &nbsp;&nbsp;&nbsp;&nbsp;91274 | &nbsp;&nbsp;&nbsp;&nbsp;6915831 |
|  |  | &nbsp;&nbsp;&nbsp;23225940 |
|  |  | &nbsp;&nbsp;&nbsp;47528472 |
| TOTAL COMMON STOCKS (Cost $662,200,491) | TOTAL COMMON STOCKS (Cost $662,200,491) | $801525822 |
| **PREFERRED SECURITIES – 1.2%** |  |  |
| **Consumer discretionary – 0.5%** |  |  |
| **Automobiles – 0.5%** | **Automobiles – 0.5%** |  |
| Volkswagen AG | &nbsp;&nbsp;&nbsp;&nbsp;36020 | &nbsp;&nbsp;&nbsp;&nbsp;3807801 |
| **Industrials – 0.5%** |  |  |
| **Aerospace and defense – 0.5%** | **Aerospace and defense – 0.5%** |  |
| The Boeing Company, 6.000% | &nbsp;&nbsp;&nbsp;&nbsp;59174 | &nbsp;&nbsp;&nbsp;&nbsp;4023832 |
| **Utilities – 0.2%** |  |  |
| **Electric utilities – 0.2%** | **Electric utilities – 0.2%** |  |
| NextEra Energy, Inc., 6.926% | &nbsp;&nbsp;&nbsp;&nbsp;38327 | &nbsp;&nbsp;&nbsp;&nbsp;1523115 |
| TOTAL PREFERRED SECURITIES (Cost $9,431,711) | TOTAL PREFERRED SECURITIES (Cost $9,431,711) | $&nbsp;&nbsp;&nbsp;&nbsp;9354748 |
| **SHORT-TERM INVESTMENTS – 2.1%** | **SHORT-TERM INVESTMENTS – 2.1%** |  |
| **Short-term funds – 2.1%** |  |  |
| John Hancock Collateral Trust, 4.2596% (C)(D) | &nbsp;&nbsp;812074 | &nbsp;&nbsp;&nbsp;&nbsp;8122685 |
| State Street Institutional U.S. Government Money Market Fund, Premier Class, 4.2560% (C) | 3010431 | &nbsp;&nbsp;&nbsp;&nbsp;3010431 |
| T. Rowe Price Government Reserve Fund, 4.3685% (C) | 6364968 | &nbsp;&nbsp;&nbsp;&nbsp;6364968 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $17,498,026) | TOTAL SHORT-TERM INVESTMENTS (Cost $17,498,026) | $&nbsp;&nbsp;&nbsp;17498084 |
| **Total Investments (Equity Income Trust)<br> (Cost $689,130,228) – 100.5%** | **Total Investments (Equity Income Trust)<br> (Cost $689,130,228) – 100.5%** | $**828378654** |
| **Other assets and liabilities, net – (0.5%)** | **Other assets and liabilities, net – (0.5%)** | &nbsp;&nbsp;&nbsp;**(3744658)** |
| **TOTAL NET ASSETS – 100.0%** | **TOTAL NET ASSETS – 100.0%** | $**824633996** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| ADR | American Depositary Receipt |
| (A) | Non-income producing security. |
| (B) | All or a portion of this security is on loan as of 6-30-25. |
| (C) | The rate shown is the annualized seven-day yield as of 6-30-25. |
| (D) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |

---

#### Financial Industries Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS – 97.1%** | **COMMON STOCKS – 97.1%** |  |
| **Financials – 96.4%** |  |  |
| **Banks – 35.7%** | **Banks – 35.7%** |  |
| American Business Bank | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26976 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1150257 |
| Bank of America Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4965430 |
| Bank of Ireland Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1402854 |
| CaixaBank SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156301 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1354319 |
| Citigroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5405546 |
| Coastal Financial Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;788328 |
| Dime Community Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36527 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;984037 |
| East West Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;801377 |
| JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5223598 |
| M&T Bank Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5066243 |
| Old National Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2338459 |
| Pinnacle Financial Partners, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3109146 |

---

#### Financial Industries Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Banks (continued)** | **Banks (continued)** |  |
| Popular, Inc. | 20704 | $&nbsp;&nbsp;&nbsp;&nbsp;2281788 |
| Renasant Corp. | 20285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;728840 |
| Sumitomo Mitsui Trust Group, Inc. | 77800 | &nbsp;&nbsp;&nbsp;&nbsp;2069280 |
| Synovus Financial Corp. | 62030 | &nbsp;&nbsp;&nbsp;&nbsp;3210053 |
| Washington Trust Bancorp, Inc. | 22318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;631153 |
| Wells Fargo & Company | 78452 | &nbsp;&nbsp;&nbsp;&nbsp;6285572 |
| Zions Bancorp NA | 37332 | &nbsp;&nbsp;&nbsp;&nbsp;1939024 |
|  |  | &nbsp;&nbsp;&nbsp;49735304 |
| **Capital markets – 24.8%** | **Capital markets – 24.8%** |  |
| Ameriprise Financial, Inc. | &nbsp;&nbsp;5206 | &nbsp;&nbsp;&nbsp;&nbsp;2778598 |
| Ares Management Corp., Class A | 16512 | &nbsp;&nbsp;&nbsp;&nbsp;2859878 |
| CME Group, Inc. | 14508 | &nbsp;&nbsp;&nbsp;&nbsp;3998695 |
| GCM Grosvenor, Inc., Class A | 36752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;424853 |
| KKR & Company, Inc. | 26955 | &nbsp;&nbsp;&nbsp;&nbsp;3585824 |
| Marex Group PLC | 43916 | &nbsp;&nbsp;&nbsp;&nbsp;1733365 |
| Morgan Stanley | 25434 | &nbsp;&nbsp;&nbsp;&nbsp;3582633 |
| Nasdaq, Inc. | 56238 | &nbsp;&nbsp;&nbsp;&nbsp;5028802 |
| Partners Group Holding AG | &nbsp;&nbsp;2481 | &nbsp;&nbsp;&nbsp;&nbsp;3245958 |
| The Goldman Sachs Group, Inc. | &nbsp;&nbsp;6276 | &nbsp;&nbsp;&nbsp;&nbsp;4441839 |
| Tradeweb Markets, Inc., Class A | 19580 | &nbsp;&nbsp;&nbsp;&nbsp;2866512 |
|  |  | &nbsp;&nbsp;&nbsp;34546957 |
| **Consumer finance – 1.6%** | **Consumer finance – 1.6%** |  |
| American Express Company | &nbsp;&nbsp;6933 | &nbsp;&nbsp;&nbsp;&nbsp;2211488 |
| **Financial services – 9.9%** | **Financial services – 9.9%** |  |
| Equitable Holdings, Inc. | 46097 | &nbsp;&nbsp;&nbsp;&nbsp;2586042 |
| Fiserv, Inc. (A) | 13181 | &nbsp;&nbsp;&nbsp;&nbsp;2272536 |
| Mastercard, Inc., Class A | &nbsp;&nbsp;6078 | &nbsp;&nbsp;&nbsp;&nbsp;3415471 |
| PayPal Holdings, Inc. (A) | 24131 | &nbsp;&nbsp;&nbsp;&nbsp;1793416 |
| Visa, Inc., Class A | 10269 | &nbsp;&nbsp;&nbsp;&nbsp;3646008 |
|  |  | &nbsp;&nbsp;&nbsp;13713473 |
| **Insurance – 24.4%** | **Insurance – 24.4%** |  |
| American Integrity Insurance Group, Inc. (A) | 56277 | &nbsp;&nbsp;&nbsp;&nbsp;1034934 |
| American International Group, Inc. | 16696 | &nbsp;&nbsp;&nbsp;&nbsp;1429011 |
| Arthur J. Gallagher & Company | 10509 | &nbsp;&nbsp;&nbsp;&nbsp;3364141 |
| Bowhead Specialty Holdings, Inc. (A) | 21591 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;810310 |
| Chubb, Ltd. | &nbsp;&nbsp;8351 | &nbsp;&nbsp;&nbsp;&nbsp;2419452 |
| MetLife, Inc. | 33433 | &nbsp;&nbsp;&nbsp;&nbsp;2688682 |
| NN Group NV | 41887 | &nbsp;&nbsp;&nbsp;&nbsp;2787125 |
| Palomar Holdings, Inc. (A) | 19081 | &nbsp;&nbsp;&nbsp;&nbsp;2943244 |
| Reinsurance Group of America, Inc. | &nbsp;&nbsp;8491 | &nbsp;&nbsp;&nbsp;&nbsp;1684275 |
| Skyward Specialty Insurance Group, Inc. (A) | 45516 | &nbsp;&nbsp;&nbsp;&nbsp;2630370 |
| The Allstate Corp. | 19820 | &nbsp;&nbsp;&nbsp;&nbsp;3989964 |
| The Hartford Insurance Group, Inc. | 12475 | &nbsp;&nbsp;&nbsp;&nbsp;1582703 |
| The Progressive Corp. | 11538 | &nbsp;&nbsp;&nbsp;&nbsp;3079031 |
| Unum Group | 42808 | &nbsp;&nbsp;&nbsp;&nbsp;3457174 |
|  |  | &nbsp;&nbsp;&nbsp;33900416 |
|  |  | 134107638 |
| **Real estate – 0.7%** |  |  |
| **Specialized REITs – 0.7%** | **Specialized REITs – 0.7%** |  |
| Digital Realty Trust, Inc. | &nbsp;&nbsp;5537 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;965265 |
| TOTAL COMMON STOCKS (Cost $105,172,067) | TOTAL COMMON STOCKS (Cost $105,172,067) | $135072903 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 22 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Financial Industries Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **SHORT-TERM INVESTMENTS – 2.8%** | **SHORT-TERM INVESTMENTS – 2.8%** |  |
| **Short-term funds – 2.8%** |  |  |
| John Hancock Collateral Trust, 4.2596% (B)(C) | 391696 | $&nbsp;&nbsp;&nbsp;&nbsp;3917901 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $3,917,866) | TOTAL SHORT-TERM INVESTMENTS (Cost $3,917,866) | $&nbsp;&nbsp;&nbsp;&nbsp;3917901 |
| **Total Investments (Financial Industries Trust)<br> (Cost $109,089,933) – 99.9%** | **Total Investments (Financial Industries Trust)<br> (Cost $109,089,933) – 99.9%** | $**138990804** |
| **Other assets and liabilities, net – 0.1%** | **Other assets and liabilities, net – 0.1%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**107178** |
| **TOTAL NET ASSETS – 100.0%** | **TOTAL NET ASSETS – 100.0%** | $**139097982** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| (A) | Non-income producing security. |
| (B) | The rate shown is the annualized seven-day yield as of 6-30-25. |
| (C) | Investment is an affiliate of the fund, the advisor and/or subadvisor. |

---

#### Fundamental All Cap Core Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS – 99.6%** | **COMMON STOCKS – 99.6%** |  |
| **Communication services – 9.7%** |  |  |
| **Entertainment – 3.8%** | **Entertainment – 3.8%** |  |
| Liberty Media Corp.-Liberty Formula One, Series C (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;628687 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65697792 |
| Warner Brothers Discovery, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2627265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30108457 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95806249 |
| **Interactive media and services – 5.9%** | **Interactive media and services – 5.9%** |  |
| Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;712808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125618154 |
| CarGurus, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;654655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21911303 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147529457 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243335706 |
| **Consumer discretionary – 22.3%** |  |  |
| **Automobile components – 1.9%** | **Automobile components – 1.9%** |  |
| Fox Factory Holding Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;394327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10228842 |
| Mobileye Global, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2046711 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36799864 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47028706 |
| **Broadline retail – 8.4%** | **Broadline retail – 8.4%** |  |
| Amazon.com, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;954427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209391738 |
| **Hotels, restaurants and leisure – 2.3%** | **Hotels, restaurants and leisure – 2.3%** |  |
| Las Vegas Sands Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;580419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25254031 |
| Vail Resorts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33104463 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58358494 |
| **Household durables – 3.4%** | **Household durables – 3.4%** |  |
| Lennar Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;760085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84073002 |
| **Specialty retail – 5.2%** | **Specialty retail – 5.2%** |  |
| Avolta AG (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;534167 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29096658 |
| CarMax, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;557453 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37466416 |
| Group 1 Automotive, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146821 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64118199 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130681273 |
| **Textiles, apparel and luxury goods – 1.1%** | **Textiles, apparel and luxury goods – 1.1%** |  |
| Canada Goose Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2072911 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23195874 |
| Salvatore Ferragamo SpA (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;666003 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3929274 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27125148 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;556658361 |
| **Consumer staples – 3.7%** |  |  |
| **Beverages – 2.1%** | **Beverages – 2.1%** |  |
| Anheuser-Busch InBev SA/NV, ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35789376 |

---

#### Fundamental All Cap Core Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Beverages (continued)** | **Beverages (continued)** |  |
| Diageo PLC, ADR | &nbsp;&nbsp;156602 | $&nbsp;&nbsp;&nbsp;15791746 |
|  |  | &nbsp;&nbsp;&nbsp;51581122 |
| **Food products – 1.6%** | **Food products – 1.6%** |  |
| Post Holdings, Inc. (A) | &nbsp;&nbsp;368840 | &nbsp;&nbsp;&nbsp;40214625 |
|  |  | &nbsp;&nbsp;&nbsp;91795747 |
| **Energy – 5.1%** |  |  |
| **Oil, gas and consumable fuels – 5.1%** | **Oil, gas and consumable fuels – 5.1%** |  |
| Cheniere Energy, Inc. | &nbsp;&nbsp;409852 | &nbsp;&nbsp;&nbsp;99807159 |
| Suncor Energy, Inc. | &nbsp;&nbsp;753400 | &nbsp;&nbsp;&nbsp;28214830 |
|  |  | 128021989 |
| **Financials – 13.1%** |  |  |
| **Banks – 3.6%** | **Banks – 3.6%** |  |
| First Hawaiian, Inc. | 3594456 | &nbsp;&nbsp;&nbsp;89717622 |
| **Capital markets – 9.5%** | **Capital markets – 9.5%** |  |
| KKR & Company, Inc. | &nbsp;&nbsp;712995 | &nbsp;&nbsp;&nbsp;94849725 |
| Morgan Stanley | &nbsp;&nbsp;403425 | &nbsp;&nbsp;&nbsp;56826446 |
| S&P Global, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;78925 | &nbsp;&nbsp;&nbsp;41616363 |
| The Goldman Sachs Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;63880 | &nbsp;&nbsp;&nbsp;45211070 |
|  |  | 238503604 |
|  |  | 328221226 |
| **Health care – 10.2%** |  |  |
| **Health care equipment and supplies – 3.3%** | **Health care equipment and supplies – 3.3%** |  |
| Hologic, Inc. (A) | 1270518 | &nbsp;&nbsp;&nbsp;82786953 |
| **Health care providers and services – 3.3%** | **Health care providers and services – 3.3%** |  |
| Elevance Health, Inc. | &nbsp;&nbsp;139975 | &nbsp;&nbsp;&nbsp;54444676 |
| McKesson Corp. | &nbsp;&nbsp;&nbsp;&nbsp;36900 | &nbsp;&nbsp;&nbsp;27039582 |
|  |  | &nbsp;&nbsp;&nbsp;81484258 |
| **Life sciences tools and services – 3.2%** | **Life sciences tools and services – 3.2%** |  |
| Avantor, Inc. (A) | 2778648 | &nbsp;&nbsp;&nbsp;37400602 |
| Thermo Fisher Scientific, Inc. | &nbsp;&nbsp;106961 | &nbsp;&nbsp;&nbsp;43368407 |
|  |  | &nbsp;&nbsp;&nbsp;80769009 |
| **Pharmaceuticals – 0.4%** | **Pharmaceuticals – 0.4%** |  |
| Elanco Animal Health, Inc. (A) | &nbsp;&nbsp;721201 | &nbsp;&nbsp;&nbsp;10298750 |
|  |  | 255338970 |
| **Industrials – 3.4%** |  |  |
| **Electrical equipment – 1.2%** | **Electrical equipment – 1.2%** |  |
| Regal Rexnord Corp. | &nbsp;&nbsp;206110 | &nbsp;&nbsp;&nbsp;29877706 |
| **Trading companies and distributors – 2.2%** | **Trading companies and distributors – 2.2%** |  |
| United Rentals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;72841 | &nbsp;&nbsp;&nbsp;54878409 |
|  |  | &nbsp;&nbsp;&nbsp;84756115 |
| **Information technology – 30.0%** |  |  |
| **Semiconductors and semiconductor equipment – 10.6%** | **Semiconductors and semiconductor equipment – 10.6%** |  |
| Analog Devices, Inc. | &nbsp;&nbsp;286647 | &nbsp;&nbsp;&nbsp;68227719 |
| NVIDIA Corp. | 1020402 | 161213312 |
| Texas Instruments, Inc. | &nbsp;&nbsp;166133 | &nbsp;&nbsp;&nbsp;34492533 |
|  |  | 263933564 |
| **Software – 14.3%** | **Software – 14.3%** |  |
| Adobe, Inc. (A) | &nbsp;&nbsp;119664 | &nbsp;&nbsp;&nbsp;46295608 |
| Autodesk, Inc. (A) | &nbsp;&nbsp;104849 | &nbsp;&nbsp;&nbsp;32458105 |
| Microsoft Corp. | &nbsp;&nbsp;&nbsp;&nbsp;62018 | &nbsp;&nbsp;&nbsp;30848373 |
| Oracle Corp. | &nbsp;&nbsp;258986 | &nbsp;&nbsp;&nbsp;56622109 |
| Roper Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;51387 | &nbsp;&nbsp;&nbsp;29128207 |
| Salesforce, Inc. | &nbsp;&nbsp;238075 | &nbsp;&nbsp;&nbsp;64920672 |
| Workday, Inc., Class A (A) | &nbsp;&nbsp;410992 | &nbsp;&nbsp;&nbsp;98638080 |
|  |  | 358911154 |
| **Technology hardware, storage and peripherals – 5.1%** | **Technology hardware, storage and peripherals – 5.1%** |  |
| Apple, Inc. | &nbsp;&nbsp;480689 | &nbsp;&nbsp;&nbsp;98622962 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 23 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Fundamental All Cap Core Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Technology hardware, storage and peripherals (continued)** | **Technology hardware, storage and peripherals (continued)** |  |
| Samsung Electronics Company, Ltd. | &nbsp;&nbsp;642050 | $&nbsp;&nbsp;&nbsp;&nbsp;28392481 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;127015443 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;749860161 |
| **Real estate – 2.1%** |  |  |
| **Real estate management and development – 0.4%** | **Real estate management and development – 0.4%** |  |
| Five Point Holdings LLC, Class A (A) | 1771481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9743146 |
| **Specialized REITs – 1.7%** | **Specialized REITs – 1.7%** |  |
| Crown Castle, Inc. | &nbsp;&nbsp;317034 | &nbsp;&nbsp;&nbsp;&nbsp;32568903 |
| Millrose Properties, Inc., Class A | &nbsp;&nbsp;367725 | &nbsp;&nbsp;&nbsp;&nbsp;10483840 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;43052743 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;52795889 |
| TOTAL COMMON STOCKS (Cost $1,609,520,681) | TOTAL COMMON STOCKS (Cost $1,609,520,681) | $2490784164 |
| **SHORT-TERM INVESTMENTS – 0.1%** | **SHORT-TERM INVESTMENTS – 0.1%** |  |
| **Short-term funds – 0.1%** |  |  |
| John Hancock Collateral Trust, 4.2596% (B)(C) | &nbsp;&nbsp;&nbsp;&nbsp;99883 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;999072 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $999,077) | TOTAL SHORT-TERM INVESTMENTS (Cost $999,077) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;999072 |
| **Total Investments (Fundamental All Cap Core Trust)<br> (Cost $1,610,519,758) – 99.7%** | **Total Investments (Fundamental All Cap Core Trust)<br> (Cost $1,610,519,758) – 99.7%** | $**2491783236** |
| **Other assets and liabilities, net – 0.3%** | **Other assets and liabilities, net – 0.3%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8278524** |
| **TOTAL NET ASSETS – 100.0%** | **TOTAL NET ASSETS – 100.0%** | $**2500061760** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| ADR | American Depositary Receipt |
| (A) | Non-income producing security. |
| (B) | The rate shown is the annualized seven-day yield as of 6-30-25. |
| (C) | Investment is an affiliate of the fund, the advisor and/or subadvisor. |

---

#### Fundamental Large Cap Value Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS – 99.5%** | **COMMON STOCKS – 99.5%** |  |
| **Communication services – 7.3%** |  |  |
| **Interactive media and services – 3.4%** | **Interactive media and services – 3.4%** |  |
| Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103060 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18162264 |
| Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9566384 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27728648 |
| **Media – 3.9%** | **Media – 3.9%** |  |
| Charter Communications, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7366756 |
| Comcast Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;696066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24842596 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32209352 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59938000 |
| **Consumer discretionary – 6.8%** |  |  |
| **Automobile components – 1.1%** | **Automobile components – 1.1%** |  |
| Mobileye Global, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;481790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8662584 |
| **Broadline retail – 1.1%** | **Broadline retail – 1.1%** |  |
| eBay, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120924 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9004001 |
| **Hotels, restaurants and leisure – 1.6%** | **Hotels, restaurants and leisure – 1.6%** |  |
| Vail Resorts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82612 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12980824 |
| **Household durables – 2.4%** | **Household durables – 2.4%** |  |
| Lennar Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179804 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19888120 |
| **Specialty retail – 0.6%** | **Specialty retail – 0.6%** |  |
| CarMax, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67916 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4564634 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55100163 |

---

#### Fundamental Large Cap Value Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Consumer staples – 8.8%** |  |  |
| **Beverages – 3.1%** | **Beverages – 3.1%** |  |
| Anheuser-Busch InBev SA/NV, ADR | &nbsp;&nbsp;174341 | $&nbsp;&nbsp;&nbsp;11980714 |
| Heineken Holding NV | &nbsp;&nbsp;108171 | &nbsp;&nbsp;&nbsp;&nbsp;8071684 |
| PepsiCo, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;38771 | &nbsp;&nbsp;&nbsp;&nbsp;5119323 |
|  |  | &nbsp;&nbsp;&nbsp;25171721 |
| **Consumer staples distribution and retail – 3.3%** | **Consumer staples distribution and retail – 3.3%** |  |
| Walmart, Inc. | &nbsp;&nbsp;275475 | &nbsp;&nbsp;&nbsp;26935946 |
| **Food products – 2.4%** | **Food products – 2.4%** |  |
| Danone SA | &nbsp;&nbsp;101117 | &nbsp;&nbsp;&nbsp;&nbsp;8273730 |
| Post Holdings, Inc. (A) | &nbsp;&nbsp;106333 | &nbsp;&nbsp;&nbsp;11593487 |
|  |  | &nbsp;&nbsp;&nbsp;19867217 |
|  |  | &nbsp;&nbsp;&nbsp;71974884 |
| **Energy – 7.7%** |  |  |
| **Oil, gas and consumable fuels – 7.7%** | **Oil, gas and consumable fuels – 7.7%** |  |
| Cheniere Energy, Inc. | &nbsp;&nbsp;170680 | &nbsp;&nbsp;&nbsp;41563994 |
| Chevron Corp. | &nbsp;&nbsp;&nbsp;&nbsp;64693 | &nbsp;&nbsp;&nbsp;&nbsp;9263391 |
| Suncor Energy, Inc. | &nbsp;&nbsp;329177 | &nbsp;&nbsp;&nbsp;12327679 |
|  |  | &nbsp;&nbsp;&nbsp;63155064 |
| **Financials – 18.4%** |  |  |
| **Banks – 6.0%** | **Banks – 6.0%** |  |
| Bank of America Corp. | &nbsp;&nbsp;357392 | &nbsp;&nbsp;&nbsp;16911789 |
| Citigroup, Inc. | &nbsp;&nbsp;143048 | &nbsp;&nbsp;&nbsp;12176246 |
| JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;&nbsp;34358 | &nbsp;&nbsp;&nbsp;&nbsp;9960728 |
| Wells Fargo & Company | &nbsp;&nbsp;119501 | &nbsp;&nbsp;&nbsp;&nbsp;9574420 |
|  |  | &nbsp;&nbsp;&nbsp;48623183 |
| **Capital markets – 11.8%** | **Capital markets – 11.8%** |  |
| KKR & Company, Inc. | &nbsp;&nbsp;171385 | &nbsp;&nbsp;&nbsp;22799347 |
| Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp;61390 | &nbsp;&nbsp;&nbsp;&nbsp;8647395 |
| Nasdaq, Inc. | &nbsp;&nbsp;375945 | &nbsp;&nbsp;&nbsp;33617002 |
| State Street Corp. | &nbsp;&nbsp;194868 | &nbsp;&nbsp;&nbsp;20722263 |
| The Goldman Sachs Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14626 | &nbsp;&nbsp;&nbsp;10351552 |
|  |  | &nbsp;&nbsp;&nbsp;96137559 |
| **Consumer finance – 0.6%** | **Consumer finance – 0.6%** |  |
| American Express Company | &nbsp;&nbsp;&nbsp;&nbsp;16246 | &nbsp;&nbsp;&nbsp;&nbsp;5182149 |
|  |  | 149942891 |
| **Health care – 19.6%** |  |  |
| **Biotechnology – 2.1%** | **Biotechnology – 2.1%** |  |
| Gilead Sciences, Inc. | &nbsp;&nbsp;122791 | &nbsp;&nbsp;&nbsp;13613838 |
| Moderna, Inc. (A) | &nbsp;&nbsp;142763 | &nbsp;&nbsp;&nbsp;&nbsp;3938831 |
|  |  | &nbsp;&nbsp;&nbsp;17552669 |
| **Health care equipment and supplies – 3.1%** | **Health care equipment and supplies – 3.1%** |  |
| Hologic, Inc. (A) | &nbsp;&nbsp;382975 | &nbsp;&nbsp;&nbsp;24954651 |
| **Health care providers and services – 4.1%** | **Health care providers and services – 4.1%** |  |
| Elevance Health, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;85652 | &nbsp;&nbsp;&nbsp;33315201 |
| **Life sciences tools and services – 2.3%** | **Life sciences tools and services – 2.3%** |  |
| Avantor, Inc. (A) | &nbsp;&nbsp;844553 | &nbsp;&nbsp;&nbsp;11367683 |
| Danaher Corp. | &nbsp;&nbsp;&nbsp;&nbsp;39580 | &nbsp;&nbsp;&nbsp;&nbsp;7818633 |
|  |  | &nbsp;&nbsp;&nbsp;19186316 |
| **Pharmaceuticals – 8.0%** | **Pharmaceuticals – 8.0%** |  |
| Elanco Animal Health, Inc. (A) | 1511663 | &nbsp;&nbsp;&nbsp;21586548 |
| GSK PLC, ADR | &nbsp;&nbsp;491575 | &nbsp;&nbsp;&nbsp;18876480 |
| Haleon PLC, ADR | &nbsp;&nbsp;809804 | &nbsp;&nbsp;&nbsp;&nbsp;8397667 |
| Merck & Company, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;69932 | &nbsp;&nbsp;&nbsp;&nbsp;5535817 |
| Novartis AG, ADR | &nbsp;&nbsp;&nbsp;&nbsp;89758 | &nbsp;&nbsp;&nbsp;10861616 |
|  |  | &nbsp;&nbsp;&nbsp;65258128 |
|  |  | 160266965 |
| **Industrials – 12.0%** |  |  |
| **Aerospace and defense – 4.1%** | **Aerospace and defense – 4.1%** |  |
| Airbus SE | &nbsp;&nbsp;&nbsp;&nbsp;47502 | &nbsp;&nbsp;&nbsp;&nbsp;9937450 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 24 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Fundamental Large Cap Value Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Aerospace and defense (continued)** | **Aerospace and defense (continued)** |  |
| L3Harris Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;55663 | $&nbsp;&nbsp;&nbsp;13962507 |
| RTX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;65850 | &nbsp;&nbsp;&nbsp;&nbsp;9615417 |
|  |  | &nbsp;&nbsp;&nbsp;33515374 |
| **Air freight and logistics – 0.9%** | **Air freight and logistics – 0.9%** |  |
| FedEx Corp. | &nbsp;&nbsp;&nbsp;&nbsp;31667 | &nbsp;&nbsp;&nbsp;&nbsp;7198226 |
| **Electrical equipment – 0.6%** | **Electrical equipment – 0.6%** |  |
| Sensata Technologies Holding PLC | &nbsp;&nbsp;162252 | &nbsp;&nbsp;&nbsp;&nbsp;4885408 |
| **Machinery – 3.6%** | **Machinery – 3.6%** |  |
| Fortive Corp. | &nbsp;&nbsp;248175 | &nbsp;&nbsp;&nbsp;12937363 |
| Parker-Hannifin Corp. | &nbsp;&nbsp;&nbsp;&nbsp;22921 | &nbsp;&nbsp;&nbsp;16009631 |
|  |  | &nbsp;&nbsp;&nbsp;28946994 |
| **Trading companies and distributors – 2.8%** | **Trading companies and distributors – 2.8%** |  |
| United Rentals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;30657 | &nbsp;&nbsp;&nbsp;23096984 |
|  |  | &nbsp;&nbsp;&nbsp;97642986 |
| **Information technology – 14.6%** |  |  |
| **Electronic equipment, instruments and components – 1.7%** | **Electronic equipment, instruments and components – 1.7%** |  |
| Ralliant Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;82725 | &nbsp;&nbsp;&nbsp;&nbsp;4011335 |
| Vontier Corp. | &nbsp;&nbsp;267201 | &nbsp;&nbsp;&nbsp;&nbsp;9859717 |
|  |  | &nbsp;&nbsp;&nbsp;13871052 |
| **IT services – 0.8%** | **IT services – 0.8%** |  |
| Cognizant Technology Solutions Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;87741 | &nbsp;&nbsp;&nbsp;&nbsp;6846430 |
| **Semiconductors and semiconductor equipment – 1.3%** | **Semiconductors and semiconductor equipment – 1.3%** |  |
| Analog Devices, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;19312 | &nbsp;&nbsp;&nbsp;&nbsp;4596642 |
| Taiwan Semiconductor Manufacturing Company, Ltd., ADR | &nbsp;&nbsp;&nbsp;&nbsp;24497 | &nbsp;&nbsp;&nbsp;&nbsp;5548326 |
|  |  | &nbsp;&nbsp;&nbsp;10144968 |
| **Software – 8.8%** | **Software – 8.8%** |  |
| Adobe, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;23837 | &nbsp;&nbsp;&nbsp;&nbsp;9222059 |
| Microsoft Corp. | &nbsp;&nbsp;&nbsp;&nbsp;54683 | &nbsp;&nbsp;&nbsp;27199871 |
| Oracle Corp. | &nbsp;&nbsp;162434 | &nbsp;&nbsp;&nbsp;35512945 |
|  |  | &nbsp;&nbsp;&nbsp;71934875 |
| **Technology hardware, storage and peripherals – 2.0%** | **Technology hardware, storage and peripherals – 2.0%** |  |
| Samsung Electronics Company, Ltd. | &nbsp;&nbsp;362218 | &nbsp;&nbsp;&nbsp;16017861 |
|  |  | 118815186 |
| **Materials – 0.8%** |  |  |
| **Chemicals – 0.8%** | **Chemicals – 0.8%** |  |
| LyondellBasell Industries NV, Class A | &nbsp;&nbsp;112398 | &nbsp;&nbsp;&nbsp;&nbsp;6503348 |
| **Real estate – 3.5%** |  |  |
| **Specialized REITs – 3.5%** | **Specialized REITs – 3.5%** |  |
| Crown Castle, Inc. | &nbsp;&nbsp;277576 | &nbsp;&nbsp;&nbsp;28515382 |
| TOTAL COMMON STOCKS (Cost $592,237,585) | TOTAL COMMON STOCKS (Cost $592,237,585) | $811854869 |
| **ESCROW CERTIFICATES - 0.0%** |  |  |
| Sino-Forest Corp. (A)(B) | $3244100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| TOTAL ESCROW CERTIFICATES (Cost $3) | TOTAL ESCROW CERTIFICATES (Cost $3) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| **SHORT-TERM INVESTMENTS – 0.5%** | **SHORT-TERM INVESTMENTS – 0.5%** |  |
| **Short-term funds – 0.5%** |  |  |
| John Hancock Collateral Trust, 4.2596% (C)(D) | &nbsp;&nbsp;421639 | &nbsp;&nbsp;&nbsp;&nbsp;4217401 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $4,217,545) | TOTAL SHORT-TERM INVESTMENTS (Cost $4,217,545) | $&nbsp;&nbsp;&nbsp;&nbsp;4217401 |
| **Total Investments (Fundamental Large Cap Value Trust)<br> (Cost $596,455,133) – 100.0%** | **Total Investments (Fundamental Large Cap Value Trust)<br> (Cost $596,455,133) – 100.0%** | $**816072270** |
| **Other assets and liabilities, net – (0.0%)** | **Other assets and liabilities, net – (0.0%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(44905)** |
| **TOTAL NET ASSETS – 100.0%** | **TOTAL NET ASSETS – 100.0%** | $**816027365** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| ADR | American Depositary Receipt |
| (A) | Non-income producing security. |

---

(B) Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements.

(C) The rate shown is the annualized seven-day yield as of 6-30-25.

(D) Investment is an affiliate of the fund, the advisor and/or subadvisor.

#### Global Equity Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS - 96.4%** | **COMMON STOCKS - 96.4%** |  |
| **Belgium - 2.0%** |  |  |
| Anheuser-Busch InBev SA/NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84814 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5835251 |
| **Denmark - 1.0%** |  |  |
| DSV A/S | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12847 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3081407 |
| **France - 7.2%** |  |  |
| Air Liquide SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4152487 |
| LVMH Moet Hennessy Louis Vuitton SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3341790 |
| Publicis Groupe SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40123 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4531695 |
| Sanofi SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47694 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4617446 |
| TotalEnergies SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4751749 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21395167 |
| **Germany - 2.6%** |  |  |
| Deutsche Bank AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3094546 |
| Heidelberg Materials AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20366 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4796138 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7890684 |
| **Hong Kong - 1.0%** |  |  |
| Prudential PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;248597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3111491 |
| **Ireland - 5.5%** |  |  |
| Accenture PLC, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13723 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4101667 |
| Medtronic PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84738 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7386611 |
| Ryanair Holdings PLC, ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4942838 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16431116 |
| **Japan - 8.3%** |  |  |
| Asahi Group Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;442000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5908274 |
| Seven & i Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3156291 |
| Sony Group Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6572877 |
| Sumitomo Mitsui Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3180354 |
| Sumitomo Mitsui Trust Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;218400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5808878 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24626674 |
| **Netherlands - 4.0%** |  |  |
| ING Groep NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;352712 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7730651 |
| Koninklijke Ahold Delhaize NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4160615 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11891266 |
| **Switzerland - 3.4%** |  |  |
| Chubb, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5845391 |
| SGS SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41916 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4255967 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10101358 |
| **Taiwan - 1.9%** |  |  |
| Taiwan Semiconductor Manufacturing Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5631679 |
| **United Kingdom - 2.1%** |  |  |
| Haleon PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1191238 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6122502 |
| **United States - 57.4%** |  |  |
| 3M Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19084 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2905348 |
| Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3239989 |
| Analog Devices, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3647657 |
| Apple, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13876 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2846939 |
| Arthur J. Gallagher & Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2876278 |
| AutoZone, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7049525 |
| Bank of America Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5968472 |
| Cheniere Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6249697 |
| Citigroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5409376 |
| Comcast Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3109241 |
| ConocoPhillips | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5487960 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 25 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Global Equity Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **United States (continued)** |  |  |
| CRH PLC | &nbsp;&nbsp;&nbsp;&nbsp;63381 | $&nbsp;&nbsp;&nbsp;&nbsp;5818376 |
| CSX Corp. | &nbsp;&nbsp;149133 | &nbsp;&nbsp;&nbsp;&nbsp;4866210 |
| Darden Restaurants, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;20308 | &nbsp;&nbsp;&nbsp;&nbsp;4426535 |
| DuPont de Nemours, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;52442 | &nbsp;&nbsp;&nbsp;&nbsp;3596997 |
| Elevance Health, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;6609 | &nbsp;&nbsp;&nbsp;&nbsp;2570637 |
| Emerson Electric Company | &nbsp;&nbsp;&nbsp;&nbsp;44954 | &nbsp;&nbsp;&nbsp;&nbsp;5993717 |
| GE HealthCare Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;55364 | &nbsp;&nbsp;&nbsp;&nbsp;4100811 |
| Honeywell International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12782 | &nbsp;&nbsp;&nbsp;&nbsp;2976672 |
| Intercontinental Exchange, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;32153 | &nbsp;&nbsp;&nbsp;&nbsp;5899111 |
| L3Harris Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;28829 | &nbsp;&nbsp;&nbsp;&nbsp;7231466 |
| Lennar Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;24498 | &nbsp;&nbsp;&nbsp;&nbsp;2709724 |
| Lowe's Companies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;25244 | &nbsp;&nbsp;&nbsp;&nbsp;5600886 |
| McKesson Corp. | &nbsp;&nbsp;&nbsp;&nbsp;10226 | &nbsp;&nbsp;&nbsp;&nbsp;7493408 |
| Microsoft Corp. | &nbsp;&nbsp;&nbsp;&nbsp;24086 | &nbsp;&nbsp;&nbsp;11980618 |
| Oracle Corp. | &nbsp;&nbsp;&nbsp;&nbsp;24398 | &nbsp;&nbsp;&nbsp;&nbsp;5334135 |
| Philip Morris International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;47475 | &nbsp;&nbsp;&nbsp;&nbsp;8646622 |
| Starbucks Corp. | &nbsp;&nbsp;&nbsp;&nbsp;33438 | &nbsp;&nbsp;&nbsp;&nbsp;3063924 |
| The Walt Disney Company | &nbsp;&nbsp;&nbsp;&nbsp;38582 | &nbsp;&nbsp;&nbsp;&nbsp;4784554 |
| T-Mobile US, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;18050 | &nbsp;&nbsp;&nbsp;&nbsp;4300593 |
| TransUnion | &nbsp;&nbsp;&nbsp;&nbsp;54603 | &nbsp;&nbsp;&nbsp;&nbsp;4805064 |
| United Rentals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;4648 | &nbsp;&nbsp;&nbsp;&nbsp;3501803 |
| Waste Management, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14939 | &nbsp;&nbsp;&nbsp;&nbsp;3418342 |
| Wells Fargo & Company | &nbsp;&nbsp;109025 | &nbsp;&nbsp;&nbsp;&nbsp;8735083 |
|  |  | 170645770 |
| TOTAL COMMON STOCKS (Cost $236,292,657) | TOTAL COMMON STOCKS (Cost $236,292,657) | $286764365 |
| **PREFERRED SECURITIES - 2.1%** | **PREFERRED SECURITIES - 2.1%** |  |
| **South Korea - 2.1%** |  |  |
| Samsung Electronics Company, Ltd. | &nbsp;&nbsp;173636 | &nbsp;&nbsp;&nbsp;&nbsp;6369820 |
| TOTAL PREFERRED SECURITIES (Cost $7,756,781) | TOTAL PREFERRED SECURITIES (Cost $7,756,781) | $&nbsp;&nbsp;&nbsp;&nbsp;6369820 |
| **ESCROW CERTIFICATES - 0.0%** |  |  |
| Texas Competitive Electric Holdings Company LLC (A)(B) | $7466240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| TOTAL ESCROW CERTIFICATES (Cost $0) | TOTAL ESCROW CERTIFICATES (Cost $0) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| **SHORT-TERM INVESTMENTS - 0.4%** | **SHORT-TERM INVESTMENTS - 0.4%** |  |
| **Short-term funds - 0.4%** |  |  |
| Federated Government Obligations Fund, Institutional Class, 4.1686% (C) | 1119785 | &nbsp;&nbsp;&nbsp;&nbsp;1119785 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $1,119,785) | TOTAL SHORT-TERM INVESTMENTS (Cost $1,119,785) | $&nbsp;&nbsp;&nbsp;&nbsp;1119785 |
| **Total Investments (Global Equity Trust)<br> (Cost $245,169,223) - 98.9%** | **Total Investments (Global Equity Trust)<br> (Cost $245,169,223) - 98.9%** | $**294253970** |
| **Other assets and liabilities, net - 1.1%** | **Other assets and liabilities, net - 1.1%** | &nbsp;&nbsp;&nbsp;&nbsp;**3217545** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $**297471515** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| ADR | American Depositary Receipt |
| (A) | Non-income producing security. |
| (B) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements. |
| (C) | The rate shown is the annualized seven-day yield as of 6-30-25. |

---

#### Health Sciences Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS – 99.4%** | **COMMON STOCKS – 99.4%** |  |
| **Financials – 0.2%** |  |  |
| **Financial services – 0.1%** | **Financial services – 0.1%** |  |
| Helix Acquisition Corp. II (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16298 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173574 |
| **Insurance – 0.1%** | **Insurance – 0.1%** |  |
| Oscar Health, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275547 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;449121 |
| **Health care – 99.2%** |  |  |
| **Biotechnology – 38.2%** | **Biotechnology – 38.2%** |  |
| AbbVie, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3851986 |
| ACADIA Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110007 |
| Agios Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;703516 |
| Akero Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22529 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1202147 |
| Alector, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102486 |
| Alkermes PLC (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;804885 |
| Allogene Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91955 |
| Alnylam Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19364 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6314407 |
| Amgen, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;439197 |
| Annexon, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53062 |
| Apogee Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13302 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;577706 |
| Arcellx, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9687 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;637889 |
| Argenx SE, ADR (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13002 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7166962 |
| Ascendis Pharma A/S, ADR (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2336141 |
| Aura Biosciences, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65267 |
| Avidity Biosciences, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1350477 |
| Beam Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24279 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;412986 |
| BeOne Medicines, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157998 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2988853 |
| BeOne Medicines, Ltd., ADR (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87145 |
| Bicara Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;288650 |
| Bicycle Therapeutics PLC, ADR (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25602 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177934 |
| Biohaven, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39446 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;556583 |
| Blueprint Medicines Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9602 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1230784 |
| Cabaletta Bio, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14876 |
| Cargo Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6153 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25350 |
| Caris Life Sciences, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5439 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145330 |
| Celldex Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17861 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;363471 |
| Centessa Pharmaceuticals PLC, ADR (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;907317 |
| CG Oncology, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26067 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;677742 |
| Climb Bio, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11408 |
| Crinetics Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22567 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;649027 |
| Cytokinetics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;321644 |
| Denali Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;751333 |
| Disc Medicine, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7393 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;391533 |
| Entrada Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78120 |
| Exact Sciences Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20421 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1085172 |
| Generation Bio Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37692 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12065 |
| Gilead Sciences, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5209116 |
| Heron Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89424 |
| Ideaya Biosciences, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8737 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183652 |
| Immunocore Holdings PLC, ADR (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;569076 |
| Immunome, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;526324 |
| Insmed, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46148 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4644335 |
| Ionis Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13309 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525839 |
| Iovance Biotherapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31687 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54502 |
| Janux Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233703 |
| Krystal Biotech, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;394235 |
| Kymera Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28002 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1222007 |
| Kyverna Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27613 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84772 |
| Legend Biotech Corp., ADR (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13773 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;488804 |
| Lyell Immunopharma, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54773 |
| Madrigal Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;926986 |
| Merus NV (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;556508 |
| Metsera, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10966 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;311983 |
| Monte Rosa Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29932 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134993 |
| MoonLake Immunotherapeutics (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22471 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1060631 |
| Natera, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1906995 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 26 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Health Sciences Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Biotechnology (continued)** | **Biotechnology (continued)** |  |
| Neurocrine Biosciences, Inc. (A) | &nbsp;&nbsp;12357 | $&nbsp;&nbsp;&nbsp;1553151 |
| Nuvalent, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;7847 | &nbsp;&nbsp;&nbsp;&nbsp;598726 |
| ORIC Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;25630 | &nbsp;&nbsp;&nbsp;&nbsp;260145 |
| Oruka Therapeutics, Inc. | &nbsp;&nbsp;13401 | &nbsp;&nbsp;&nbsp;&nbsp;150225 |
| Praxis Precision Medicines, Inc. (A) | &nbsp;&nbsp;&nbsp;8966 | &nbsp;&nbsp;&nbsp;&nbsp;377020 |
| Prelude Therapeutics, Inc. (A) | &nbsp;&nbsp;17428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14106 |
| Protagonist Therapeutics, Inc. (A) | &nbsp;&nbsp;15241 | &nbsp;&nbsp;&nbsp;&nbsp;842370 |
| Regeneron Pharmaceuticals, Inc. | &nbsp;&nbsp;&nbsp;4418 | &nbsp;&nbsp;&nbsp;2319450 |
| Relay Therapeutics, Inc. (A) | &nbsp;&nbsp;32881 | &nbsp;&nbsp;&nbsp;&nbsp;113768 |
| Replimune Group, Inc. (A) | &nbsp;&nbsp;47161 | &nbsp;&nbsp;&nbsp;&nbsp;438126 |
| REVOLUTION Medicines, Inc. (A) | &nbsp;&nbsp;28063 | &nbsp;&nbsp;&nbsp;1032438 |
| Rhythm Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;7936 | &nbsp;&nbsp;&nbsp;&nbsp;501476 |
| Rocket Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;23535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57661 |
| Roivant Sciences, Ltd. (A) | &nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp;207368 |
| Sana Biotechnology, Inc. (A) | &nbsp;&nbsp;54773 | &nbsp;&nbsp;&nbsp;&nbsp;149530 |
| Scholar Rock Holding Corp. (A) | &nbsp;&nbsp;39504 | &nbsp;&nbsp;&nbsp;1399232 |
| Sensorion SA (A) | 182870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67344 |
| Sionna Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;7726 | &nbsp;&nbsp;&nbsp;&nbsp;134046 |
| Soleno Therapeutics, Inc. (A) | &nbsp;&nbsp;12538 | &nbsp;&nbsp;&nbsp;1050434 |
| Spyre Therapeutics, Inc. (A) | &nbsp;&nbsp;13120 | &nbsp;&nbsp;&nbsp;&nbsp;196406 |
| Summit Therapeutics, Inc. (A) | &nbsp;&nbsp;57081 | &nbsp;&nbsp;&nbsp;1214684 |
| Ultragenyx Pharmaceutical, Inc. (A) | &nbsp;&nbsp;16546 | &nbsp;&nbsp;&nbsp;&nbsp;601613 |
| United Therapeutics Corp. (A) | &nbsp;&nbsp;&nbsp;1551 | &nbsp;&nbsp;&nbsp;&nbsp;445680 |
| UroGen Pharma, Ltd. (A) | &nbsp;&nbsp;&nbsp;5500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75350 |
| Vaxcyte, Inc. (A) | &nbsp;&nbsp;32110 | &nbsp;&nbsp;&nbsp;1043896 |
| Vera Therapeutics, Inc. (A) | &nbsp;&nbsp;27014 | &nbsp;&nbsp;&nbsp;&nbsp;636450 |
| Vertex Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;18510 | &nbsp;&nbsp;&nbsp;8240652 |
| Viridian Therapeutics, Inc. (A) | &nbsp;&nbsp;10200 | &nbsp;&nbsp;&nbsp;&nbsp;142596 |
| Voyager Therapeutics, Inc. (A) | &nbsp;&nbsp;15964 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49648 |
| Xencor, Inc. (A) | &nbsp;&nbsp;13179 | &nbsp;&nbsp;&nbsp;&nbsp;103587 |
| Zai Lab, Ltd., ADR (A) | &nbsp;&nbsp;&nbsp;4866 | &nbsp;&nbsp;&nbsp;&nbsp;170164 |
|  |  | 80351413 |
| **Health care equipment and supplies – 19.4%** | **Health care equipment and supplies – 19.4%** |  |
| Beta Bionics, Inc. (A) | &nbsp;&nbsp;&nbsp;4325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62972 |
| Boston Scientific Corp. (A) | &nbsp;&nbsp;73791 | &nbsp;&nbsp;&nbsp;7925891 |
| DexCom, Inc. (A) | &nbsp;&nbsp;&nbsp;7020 | &nbsp;&nbsp;&nbsp;&nbsp;612776 |
| IDEXX Laboratories, Inc. (A) | &nbsp;&nbsp;&nbsp;1698 | &nbsp;&nbsp;&nbsp;&nbsp;910705 |
| Intuitive Surgical, Inc. (A) | &nbsp;&nbsp;22909 | 12448980 |
| Kestra Medical Technologies, Ltd. (A) | &nbsp;&nbsp;&nbsp;9069 | &nbsp;&nbsp;&nbsp;&nbsp;150364 |
| Lantheus Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;3453 | &nbsp;&nbsp;&nbsp;&nbsp;282663 |
| Masimo Corp. (A) | &nbsp;&nbsp;&nbsp;5512 | &nbsp;&nbsp;&nbsp;&nbsp;927229 |
| Orchestra BioMed Holdings, Inc. (A) | &nbsp;&nbsp;13354 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35789 |
| Penumbra, Inc. (A) | &nbsp;&nbsp;12405 | &nbsp;&nbsp;&nbsp;3183495 |
| PROCEPT BioRobotics Corp. (A) | &nbsp;&nbsp;14588 | &nbsp;&nbsp;&nbsp;&nbsp;840269 |
| Sonova Holding AG | &nbsp;&nbsp;&nbsp;3871 | &nbsp;&nbsp;&nbsp;1154431 |
| Stryker Corp. | &nbsp;&nbsp;27006 | 10684384 |
| The Cooper Companies, Inc. (A) | &nbsp;&nbsp;21033 | &nbsp;&nbsp;&nbsp;1496708 |
|  |  | 40716656 |
| **Health care providers and services – 16.2%** | **Health care providers and services – 16.2%** |  |
| Alignment Healthcare, Inc. (A) | &nbsp;&nbsp;35631 | &nbsp;&nbsp;&nbsp;&nbsp;498834 |
| BrightSpring Health Services, Inc. (A) | &nbsp;&nbsp;39334 | &nbsp;&nbsp;&nbsp;&nbsp;927889 |
| Cardinal Health, Inc. | &nbsp;&nbsp;&nbsp;6020 | &nbsp;&nbsp;&nbsp;1011360 |
| Cencora, Inc. | &nbsp;&nbsp;&nbsp;5603 | &nbsp;&nbsp;&nbsp;1680060 |
| CVS Health Corp. | &nbsp;&nbsp;19771 | &nbsp;&nbsp;&nbsp;1363804 |
| Elevance Health, Inc. | &nbsp;&nbsp;10881 | &nbsp;&nbsp;&nbsp;4232274 |
| Encompass Health Corp. | &nbsp;&nbsp;&nbsp;4586 | &nbsp;&nbsp;&nbsp;&nbsp;562381 |
| Guardant Health, Inc. (A) | &nbsp;&nbsp;20059 | &nbsp;&nbsp;&nbsp;1043870 |
| HCA Healthcare, Inc. | &nbsp;&nbsp;&nbsp;4490 | &nbsp;&nbsp;&nbsp;1720119 |
| McKesson Corp. | &nbsp;&nbsp;&nbsp;&nbsp;433 | &nbsp;&nbsp;&nbsp;&nbsp;317294 |
| Molina Healthcare, Inc. (A) | &nbsp;&nbsp;&nbsp;4954 | &nbsp;&nbsp;&nbsp;1475797 |
| Quest Diagnostics, Inc. | &nbsp;&nbsp;&nbsp;8237 | &nbsp;&nbsp;&nbsp;1479612 |
| Tenet Healthcare Corp. (A) | &nbsp;&nbsp;12160 | &nbsp;&nbsp;&nbsp;2140160 |
| The Cigna Group | &nbsp;&nbsp;13901 | &nbsp;&nbsp;&nbsp;4595393 |
| UnitedHealth Group, Inc. | &nbsp;&nbsp;34934 | 10898360 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Health care providers and services (continued)** | **Health care providers and services (continued)** |  |
| Universal Health Services, Inc., Class B | &nbsp;&nbsp;&nbsp;1300 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235495 |
|  |  | &nbsp;&nbsp;&nbsp;34182702 |
| **Health care technology – 0.4%** | **Health care technology – 0.4%** |  |
| Veeva Systems, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;3109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;895330 |
| **Life sciences tools and services – 7.7%** | **Life sciences tools and services – 7.7%** |  |
| Danaher Corp. | &nbsp;&nbsp;33834 | &nbsp;&nbsp;&nbsp;&nbsp;6683568 |
| ICON PLC (A) | &nbsp;&nbsp;&nbsp;1899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276210 |
| Mettler-Toledo International, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;692 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;812906 |
| Repligen Corp. (A) | &nbsp;&nbsp;&nbsp;7782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;967925 |
| Revvity, Inc. | &nbsp;&nbsp;&nbsp;8838 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;854811 |
| Thermo Fisher Scientific, Inc. | &nbsp;&nbsp;16290 | &nbsp;&nbsp;&nbsp;&nbsp;6604943 |
|  |  | &nbsp;&nbsp;&nbsp;16200363 |
| **Pharmaceuticals – 17.3%** | **Pharmaceuticals – 17.3%** |  |
| Arvinas, Inc. (A) | &nbsp;&nbsp;&nbsp;4849 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35689 |
| AstraZeneca PLC, ADR | &nbsp;&nbsp;37856 | &nbsp;&nbsp;&nbsp;&nbsp;2645377 |
| Axsome Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156585 |
| Chugai Pharmaceutical Company, Ltd. | &nbsp;&nbsp;45800 | &nbsp;&nbsp;&nbsp;&nbsp;2391576 |
| Eli Lilly & Company | &nbsp;&nbsp;32643 | &nbsp;&nbsp;&nbsp;25446192 |
| Enliven Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;7709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154643 |
| MBX Biosciences, Inc. (A) | &nbsp;&nbsp;26494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;302297 |
| MediWound, Ltd. (A) | &nbsp;&nbsp;&nbsp;5415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104889 |
| Pharvaris NV (A) | &nbsp;&nbsp;11645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204952 |
| Rapport Therapeutics, Inc. (A) | &nbsp;&nbsp;22372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254370 |
| Sanofi SA, ADR | &nbsp;&nbsp;26965 | &nbsp;&nbsp;&nbsp;&nbsp;1302679 |
| Structure Therapeutics, Inc., ADR (A) | &nbsp;&nbsp;&nbsp;7577 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157147 |
| Tarsus Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;7654 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310064 |
| UCB SA | &nbsp;&nbsp;&nbsp;1373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270148 |
| Verona Pharma PLC, ADR (A) | &nbsp;&nbsp;26979 | &nbsp;&nbsp;&nbsp;&nbsp;2551674 |
| WaVe Life Sciences, Ltd. (A) | &nbsp;&nbsp;28868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187642 |
|  |  | &nbsp;&nbsp;&nbsp;36475924 |
|  |  | 208822388 |
| **Materials – 0.0%** |  |  |
| **Chemicals – 0.0%** | **Chemicals – 0.0%** |  |
| Ginkgo Bioworks Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;1971 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22174 |
| TOTAL COMMON STOCKS (Cost $184,183,064) | TOTAL COMMON STOCKS (Cost $184,183,064) | $209293683 |
| **PREFERRED SECURITIES – 0.2%** |  |  |
| **Health care – 0.2%** |  |  |
| **Life sciences tools and services – 0.2%** | **Life sciences tools and services – 0.2%** |  |
| Sartorius AG | &nbsp;&nbsp;&nbsp;2158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;549638 |
| TOTAL PREFERRED SECURITIES (Cost $602,110) | TOTAL PREFERRED SECURITIES (Cost $602,110) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;549638 |
| **CONVERTIBLE BONDS - 0.1%** |  |  |
| **Health care - 0.1%** |  |  |
| Immunocore Holdings PLC<br> 2.500%, 02/01/2030 | $277000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;238865 |
| TOTAL CONVERTIBLE BONDS (Cost $277,000) | TOTAL CONVERTIBLE BONDS (Cost $277,000) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;238865 |
| **WARRANTS – 0.0%** |  |  |
| GeneDx Holdings Corp. (Expiration Date: 7-22-26; Strike Price: $379.50) (A) | &nbsp;&nbsp;&nbsp;4862 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;321 |
| Revolution Medicines, Inc. (Expiration Date: 12-17-26; Strike Price: $11.50) (A) | &nbsp;&nbsp;&nbsp;4502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1216 |
| SomaLogic, Inc. (Expiration Date: 8-31-26; Strike Price: $11.50) (A) | &nbsp;&nbsp;&nbsp;2050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232 |
| TOTAL WARRANTS (Cost $29,139) | TOTAL WARRANTS (Cost $29,139) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1769 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 27 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Health Sciences Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **SHORT-TERM INVESTMENTS – 1.2%** | **SHORT-TERM INVESTMENTS – 1.2%** |  |
| **Short-term funds – 1.2%** |  |  |
| State Street Institutional U.S. Government Money Market Fund, Premier Class, 4.2560% (B) | &nbsp;&nbsp;501689 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;501689 |
| T. Rowe Price Government Reserve Fund, 4.3685% (B) | 1950820 | &nbsp;&nbsp;&nbsp;&nbsp;1950820 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $2,452,509) | TOTAL SHORT-TERM INVESTMENTS (Cost $2,452,509) | $&nbsp;&nbsp;&nbsp;&nbsp;2452509 |
| **Total Investments (Health Sciences Trust)<br> (Cost $187,543,822) – 100.9%** | **Total Investments (Health Sciences Trust)<br> (Cost $187,543,822) – 100.9%** | $**212536464** |
| **Other assets and liabilities, net – (0.9%)** | **Other assets and liabilities, net – (0.9%)** | &nbsp;&nbsp;&nbsp;**(1931786)** |
| **TOTAL NET ASSETS – 100.0%** | **TOTAL NET ASSETS – 100.0%** | $**210604678** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| ADR | American Depositary Receipt |
| (A) | Non-income producing security. |
| (B) | The rate shown is the annualized seven-day yield as of 6-30-25. |

---

#### International Equity Index Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS - 98.2%** | **COMMON STOCKS - 98.2%** |  |
| **Australia - 4.2%** |  |  |
| ANZ Group Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105953 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2031838 |
| APA Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247982 |
| Aristocrat Leisure, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;851754 |
| ASX, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6673 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;306394 |
| BHP Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4354425 |
| BlueScope Steel, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15384 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;234430 |
| Brambles, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;763619 |
| carsales.com, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;338108 |
| Cochlear, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2361 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;466949 |
| Coles Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;646924 |
| Commonwealth Bank of Australia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7262576 |
| Computershare, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;491312 |
| CSL, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17266 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2727347 |
| Evolution Mining, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71401 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;371735 |
| Fortescue, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59389 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;596992 |
| Goodman Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1620394 |
| Insurance Australia Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;507200 |
| Macquarie Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12911 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1941887 |
| Medibank Private, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330845 |
| MMG, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74074 |
| National Australia Bank, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108959 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2823977 |
| Northern Star Resources, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;594706 |
| Origin Energy, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;431487 |
| Pro Medicus, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;378573 |
| Qantas Airways, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25744 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181870 |
| QBE Insurance Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53844 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;829150 |
| REA Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;309116 |
| Reece, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7679 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72560 |
| Rio Tinto, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13237 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;937050 |
| Santos, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113901 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;574273 |
| Scentre Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187762 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;440999 |
| SGH, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6916 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246307 |
| Sigma Healthcare, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;324080 |
| Sonic Healthcare, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;287397 |
| South32, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112851 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215647 |
| South32, Ltd. (London Stock Exchange) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93516 |
| Stockland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88841 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;313975 |
| Suncorp Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38142 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;543586 |
| Telstra Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455431 |
| The Lottery Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;289794 |
| Transurban Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1017681 |

---

#### International Equity Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Australia (continued)** |  |  |
| Vicinity, Ltd. | 148057 | $&nbsp;&nbsp;&nbsp;&nbsp;241698 |
| Washington H. Soul Pattinson & Company, Ltd. | &nbsp;&nbsp;&nbsp;8229 | &nbsp;&nbsp;&nbsp;&nbsp;227495 |
| Wesfarmers, Ltd. | &nbsp;&nbsp;40464 | &nbsp;&nbsp;&nbsp;2258188 |
| Westpac Banking Corp. | 122065 | &nbsp;&nbsp;&nbsp;2720405 |
| WiseTech Global, Ltd. | &nbsp;&nbsp;&nbsp;7058 | &nbsp;&nbsp;&nbsp;&nbsp;506170 |
| Woodside Energy Group, Ltd. | &nbsp;&nbsp;67706 | &nbsp;&nbsp;&nbsp;1045849 |
| Woolworths Group, Ltd. | &nbsp;&nbsp;43560 | &nbsp;&nbsp;&nbsp;&nbsp;892275 |
|  |  | 45420040 |
| **Austria - 0.1%** |  |  |
| Erste Group Bank AG | &nbsp;&nbsp;10998 | &nbsp;&nbsp;&nbsp;&nbsp;936210 |
| OMV AG | &nbsp;&nbsp;&nbsp;5543 | &nbsp;&nbsp;&nbsp;&nbsp;301436 |
| Verbund AG | &nbsp;&nbsp;&nbsp;2442 | &nbsp;&nbsp;&nbsp;&nbsp;187611 |
|  |  | &nbsp;&nbsp;&nbsp;1425257 |
| **Belgium - 0.5%** |  |  |
| Ageas SA/NV | &nbsp;&nbsp;&nbsp;5462 | &nbsp;&nbsp;&nbsp;&nbsp;369492 |
| Anheuser-Busch InBev SA/NV | &nbsp;&nbsp;35247 | &nbsp;&nbsp;&nbsp;2425013 |
| D'ieteren Group | &nbsp;&nbsp;&nbsp;&nbsp;850 | &nbsp;&nbsp;&nbsp;&nbsp;183047 |
| Elia Group SA/NV | &nbsp;&nbsp;&nbsp;1750 | &nbsp;&nbsp;&nbsp;&nbsp;202116 |
| Groupe Bruxelles Lambert NV | &nbsp;&nbsp;&nbsp;2961 | &nbsp;&nbsp;&nbsp;&nbsp;252754 |
| KBC Group NV | &nbsp;&nbsp;&nbsp;8189 | &nbsp;&nbsp;&nbsp;&nbsp;845185 |
| Lotus Bakeries NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14 | &nbsp;&nbsp;&nbsp;&nbsp;134903 |
| Sofina SA | &nbsp;&nbsp;&nbsp;&nbsp;537 | &nbsp;&nbsp;&nbsp;&nbsp;177612 |
| Syensqo SA | &nbsp;&nbsp;&nbsp;2508 | &nbsp;&nbsp;&nbsp;&nbsp;194281 |
| UCB SA | &nbsp;&nbsp;&nbsp;4453 | &nbsp;&nbsp;&nbsp;&nbsp;876164 |
|  |  | &nbsp;&nbsp;&nbsp;5660567 |
| **Brazil - 1.0%** |  |  |
| Ambev SA | 165730 | &nbsp;&nbsp;&nbsp;&nbsp;406310 |
| B3 SA - Brasil Bolsa Balcao | 196921 | &nbsp;&nbsp;&nbsp;&nbsp;528448 |
| Banco Bradesco SA | &nbsp;&nbsp;56324 | &nbsp;&nbsp;&nbsp;&nbsp;150423 |
| Banco BTG Pactual SA | &nbsp;&nbsp;40604 | &nbsp;&nbsp;&nbsp;&nbsp;315753 |
| Banco do Brasil SA | &nbsp;&nbsp;60326 | &nbsp;&nbsp;&nbsp;&nbsp;245275 |
| BB Seguridade Participacoes SA | &nbsp;&nbsp;24400 | &nbsp;&nbsp;&nbsp;&nbsp;160777 |
| BRF SA | &nbsp;&nbsp;20700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76733 |
| Caixa Seguridade Participacoes SA | &nbsp;&nbsp;20700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55969 |
| Centrais Eletricas Brasileiras SA | &nbsp;&nbsp;42847 | &nbsp;&nbsp;&nbsp;&nbsp;317187 |
| Centrais Eletricas Brasileiras SA, ADR | &nbsp;&nbsp;&nbsp;1429 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11818 |
| Cia de Saneamento Basico do Estado de Sao Paulo | &nbsp;&nbsp;16670 | &nbsp;&nbsp;&nbsp;&nbsp;365518 |
| CPFL Energia SA | &nbsp;&nbsp;&nbsp;7900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59412 |
| Embraer SA | &nbsp;&nbsp;24600 | &nbsp;&nbsp;&nbsp;&nbsp;348686 |
| Energisa SA | &nbsp;&nbsp;&nbsp;8850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78709 |
| Eneva SA (A) | &nbsp;&nbsp;27600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69342 |
| Engie Brasil Energia SA | &nbsp;&nbsp;&nbsp;7275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60805 |
| Equatorial Energia SA | &nbsp;&nbsp;43634 | &nbsp;&nbsp;&nbsp;&nbsp;288800 |
| JBS NV (A) | &nbsp;&nbsp;13687 | &nbsp;&nbsp;&nbsp;&nbsp;197018 |
| Klabin SA | &nbsp;&nbsp;26400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89650 |
| Localiza Rent a Car SA | &nbsp;&nbsp;32451 | &nbsp;&nbsp;&nbsp;&nbsp;242019 |
| Motiva Infraestrutura de Mobilidade SA | &nbsp;&nbsp;40100 | &nbsp;&nbsp;&nbsp;&nbsp;101780 |
| Natura & Company Holding SA (A) | &nbsp;&nbsp;31629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64328 |
| NU Holdings, Ltd., Class A (A) | 114200 | &nbsp;&nbsp;&nbsp;1566824 |
| Petroleo Brasileiro SA | 132729 | &nbsp;&nbsp;&nbsp;&nbsp;832808 |
| PRIO SA (A) | &nbsp;&nbsp;30400 | &nbsp;&nbsp;&nbsp;&nbsp;237242 |
| Raia Drogasil SA | &nbsp;&nbsp;44036 | &nbsp;&nbsp;&nbsp;&nbsp;122550 |
| Rede D'Or Sao Luiz SA (B) | &nbsp;&nbsp;27900 | &nbsp;&nbsp;&nbsp;&nbsp;181888 |
| Rumo SA | &nbsp;&nbsp;45451 | &nbsp;&nbsp;&nbsp;&nbsp;155014 |
| Suzano SA | &nbsp;&nbsp;24163 | &nbsp;&nbsp;&nbsp;&nbsp;227750 |
| Telefonica Brasil SA | &nbsp;&nbsp;19280 | &nbsp;&nbsp;&nbsp;&nbsp;109617 |
| Telefonica Brasil SA, ADR | &nbsp;&nbsp;&nbsp;6017 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68594 |
| TIM SA | &nbsp;&nbsp;28020 | &nbsp;&nbsp;&nbsp;&nbsp;113718 |
| TOTVS SA | &nbsp;&nbsp;17746 | &nbsp;&nbsp;&nbsp;&nbsp;137869 |
| Ultrapar Participacoes SA | &nbsp;&nbsp;25400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82000 |
| Vale SA | 129250 | &nbsp;&nbsp;&nbsp;1252510 |
| Vibra Energia SA | &nbsp;&nbsp;35500 | &nbsp;&nbsp;&nbsp;&nbsp;141527 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 28 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### International Equity Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Brazil (continued)** |  |  |
| WEG SA | 58916 | $&nbsp;&nbsp;&nbsp;&nbsp;463902 |
| XP, Inc., Class A | 13000 | &nbsp;&nbsp;&nbsp;&nbsp;262600 |
|  |  | 10191173 |
| **Canada - 7.9%** |  |  |
| Agnico Eagle Mines, Ltd. | 17905 | &nbsp;&nbsp;&nbsp;2133216 |
| Alamos Gold, Inc., Class A | 15000 | &nbsp;&nbsp;&nbsp;&nbsp;398972 |
| Alimentation Couche-Tard, Inc. | 27000 | &nbsp;&nbsp;&nbsp;1342119 |
| AltaGas, Ltd. | 10300 | &nbsp;&nbsp;&nbsp;&nbsp;298997 |
| ARC Resources, Ltd. | 20700 | &nbsp;&nbsp;&nbsp;&nbsp;436422 |
| Bank of Montreal | 25777 | &nbsp;&nbsp;&nbsp;2856624 |
| Barrick Mining Corp. | 18057 | &nbsp;&nbsp;&nbsp;&nbsp;375910 |
| Barrick Mining Corp. (Toronto Stock Exchange) | 43777 | &nbsp;&nbsp;&nbsp;&nbsp;911385 |
| BCE, Inc. | &nbsp;&nbsp;3117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69127 |
| Brookfield Corp. (A) | 48572 | &nbsp;&nbsp;&nbsp;3006167 |
| CAE, Inc. (A) | 10900 | &nbsp;&nbsp;&nbsp;&nbsp;319456 |
| Cameco Corp. | 15600 | &nbsp;&nbsp;&nbsp;1158530 |
| Canadian Imperial Bank of Commerce | 33557 | &nbsp;&nbsp;&nbsp;2381949 |
| Canadian National Railway Company | 19000 | &nbsp;&nbsp;&nbsp;1979739 |
| Canadian Natural Resources, Ltd. | 74520 | &nbsp;&nbsp;&nbsp;2342174 |
| Canadian Pacific Kansas City, Ltd. | 33200 | &nbsp;&nbsp;&nbsp;2637471 |
| Canadian Tire Corp., Ltd., Class A | &nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;245054 |
| Canadian Utilities, Ltd., Class A | &nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;127283 |
| CCL Industries, Inc., Class B | &nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;314899 |
| Celestica, Inc. (A) | &nbsp;&nbsp;4100 | &nbsp;&nbsp;&nbsp;&nbsp;640585 |
| Cenovus Energy, Inc. | 49202 | &nbsp;&nbsp;&nbsp;&nbsp;669516 |
| CGI, Inc. | &nbsp;&nbsp;7200 | &nbsp;&nbsp;&nbsp;&nbsp;756139 |
| Constellation Software, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;2566727 |
| Dollarama, Inc. | &nbsp;&nbsp;9900 | &nbsp;&nbsp;&nbsp;1394906 |
| Element Fleet Management Corp. | 14700 | &nbsp;&nbsp;&nbsp;&nbsp;368215 |
| Emera, Inc. | 10600 | &nbsp;&nbsp;&nbsp;&nbsp;485572 |
| Empire Company, Ltd., Class A | &nbsp;&nbsp;4900 | &nbsp;&nbsp;&nbsp;&nbsp;203341 |
| Enbridge, Inc. | 77700 | &nbsp;&nbsp;&nbsp;3523389 |
| Fairfax Financial Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;719 | &nbsp;&nbsp;&nbsp;1297817 |
| First Quantum Minerals, Ltd. (A) | 24554 | &nbsp;&nbsp;&nbsp;&nbsp;436175 |
| FirstService Corp. | &nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;261755 |
| Fortis, Inc. | 17840 | &nbsp;&nbsp;&nbsp;&nbsp;851813 |
| Franco-Nevada Corp. | &nbsp;&nbsp;6815 | &nbsp;&nbsp;&nbsp;1118876 |
| George Weston, Ltd. | &nbsp;&nbsp;2099 | &nbsp;&nbsp;&nbsp;&nbsp;420971 |
| GFL Environmental, Inc. | &nbsp;&nbsp;7900 | &nbsp;&nbsp;&nbsp;&nbsp;398785 |
| Gildan Activewear, Inc. | &nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;246374 |
| Great-West Lifeco, Inc. | &nbsp;&nbsp;9900 | &nbsp;&nbsp;&nbsp;&nbsp;376516 |
| Hydro One, Ltd. (B) | 11900 | &nbsp;&nbsp;&nbsp;&nbsp;428811 |
| iA Financial Corp., Inc. | &nbsp;&nbsp;3300 | &nbsp;&nbsp;&nbsp;&nbsp;361782 |
| IGM Financial, Inc. | &nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94775 |
| Imperial Oil, Ltd. | &nbsp;&nbsp;6630 | &nbsp;&nbsp;&nbsp;&nbsp;526700 |
| Intact Financial Corp. | &nbsp;&nbsp;6400 | &nbsp;&nbsp;&nbsp;1488203 |
| Ivanhoe Mines, Ltd., Class A (A) | 26900 | &nbsp;&nbsp;&nbsp;&nbsp;202083 |
| Keyera Corp. | &nbsp;&nbsp;8500 | &nbsp;&nbsp;&nbsp;&nbsp;278017 |
| Kinross Gold Corp. | 43929 | &nbsp;&nbsp;&nbsp;&nbsp;686476 |
| Loblaw Companies, Ltd. | &nbsp;&nbsp;5340 | &nbsp;&nbsp;&nbsp;&nbsp;883301 |
| Lundin Gold, Inc. | &nbsp;&nbsp;3900 | &nbsp;&nbsp;&nbsp;&nbsp;205919 |
| Lundin Mining Corp. | 26900 | &nbsp;&nbsp;&nbsp;&nbsp;282877 |
| Magna International, Inc. | &nbsp;&nbsp;9500 | &nbsp;&nbsp;&nbsp;&nbsp;367233 |
| Manulife Financial Corp. (C) | 61400 | &nbsp;&nbsp;&nbsp;1963177 |
| Metro, Inc. | &nbsp;&nbsp;7557 | &nbsp;&nbsp;&nbsp;&nbsp;593628 |
| National Bank of Canada | 14000 | &nbsp;&nbsp;&nbsp;1444670 |
| Nutrien, Ltd. | 17390 | &nbsp;&nbsp;&nbsp;1013326 |
| Open Text Corp. | &nbsp;&nbsp;9700 | &nbsp;&nbsp;&nbsp;&nbsp;283432 |
| Pan American Silver Corp. | 12800 | &nbsp;&nbsp;&nbsp;&nbsp;363203 |
| Pembina Pipeline Corp. | 20398 | &nbsp;&nbsp;&nbsp;&nbsp;765889 |
| Power Corp. of Canada | 20012 | &nbsp;&nbsp;&nbsp;&nbsp;781669 |
| Quebecor, Inc., Class B | &nbsp;&nbsp;5200 | &nbsp;&nbsp;&nbsp;&nbsp;158282 |
| Restaurant Brands International, Inc. | 10946 | &nbsp;&nbsp;&nbsp;&nbsp;726089 |
| Rogers Communications, Inc., Class B | 13188 | &nbsp;&nbsp;&nbsp;&nbsp;391161 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Canada (continued)** |  |  |
| Royal Bank of Canada | &nbsp;&nbsp;&nbsp;&nbsp;49948 | $&nbsp;&nbsp;&nbsp;6582829 |
| Saputo, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;9100 | &nbsp;&nbsp;&nbsp;&nbsp;186243 |
| Shopify, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;43400 | &nbsp;&nbsp;&nbsp;5005621 |
| Stantec, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;435234 |
| Sun Life Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;20400 | &nbsp;&nbsp;&nbsp;1357403 |
| Suncor Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;44435 | &nbsp;&nbsp;&nbsp;1664497 |
| TC Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;37046 | &nbsp;&nbsp;&nbsp;1808568 |
| Teck Resources, Ltd., Class B | &nbsp;&nbsp;&nbsp;&nbsp;16961 | &nbsp;&nbsp;&nbsp;&nbsp;685913 |
| TELUS Corp. | &nbsp;&nbsp;&nbsp;&nbsp;18041 | &nbsp;&nbsp;&nbsp;&nbsp;289742 |
| TFI International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;2800 | &nbsp;&nbsp;&nbsp;&nbsp;251347 |
| The Bank of Nova Scotia | &nbsp;&nbsp;&nbsp;&nbsp;43683 | &nbsp;&nbsp;&nbsp;2415517 |
| The Descartes Systems Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;3100 | &nbsp;&nbsp;&nbsp;&nbsp;314906 |
| The Toronto-Dominion Bank | &nbsp;&nbsp;&nbsp;&nbsp;62484 | &nbsp;&nbsp;&nbsp;4595849 |
| Thomson Reuters Corp. | &nbsp;&nbsp;&nbsp;&nbsp;5654 | &nbsp;&nbsp;&nbsp;1136987 |
| TMX Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;423866 |
| Toromont Industries, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;2800 | &nbsp;&nbsp;&nbsp;&nbsp;251656 |
| Tourmaline Oil Corp. | &nbsp;&nbsp;&nbsp;&nbsp;12600 | &nbsp;&nbsp;&nbsp;&nbsp;607909 |
| West Fraser Timber Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;2100 | &nbsp;&nbsp;&nbsp;&nbsp;153997 |
| Wheaton Precious Metals Corp. | &nbsp;&nbsp;&nbsp;&nbsp;16170 | &nbsp;&nbsp;&nbsp;1454142 |
| Whitecap Resources, Inc. (Toronto Stock Exchange) | &nbsp;&nbsp;&nbsp;&nbsp;43600 | &nbsp;&nbsp;&nbsp;&nbsp;292961 |
| WSP Global, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;938309 |
|  |  | 84497165 |
| **Chile - 0.2%** |  |  |
| Antofagasta PLC | &nbsp;&nbsp;&nbsp;&nbsp;13585 | &nbsp;&nbsp;&nbsp;&nbsp;337761 |
| Banco de Chile | 1620933 | &nbsp;&nbsp;&nbsp;&nbsp;245152 |
| Banco de Credito e Inversiones SA | &nbsp;&nbsp;&nbsp;&nbsp;3323 | &nbsp;&nbsp;&nbsp;&nbsp;140321 |
| Banco Santander Chile, ADR | &nbsp;&nbsp;&nbsp;&nbsp;5508 | &nbsp;&nbsp;&nbsp;&nbsp;138912 |
| Cencosud SA | &nbsp;&nbsp;&nbsp;&nbsp;42702 | &nbsp;&nbsp;&nbsp;&nbsp;145300 |
| Empresas CMPC SA | &nbsp;&nbsp;&nbsp;&nbsp;38455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58779 |
| Empresas COPEC SA | &nbsp;&nbsp;&nbsp;&nbsp;13196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89860 |
| Enel Americas SA | &nbsp;&nbsp;726053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70725 |
| Enel Chile SA, ADR | &nbsp;&nbsp;&nbsp;&nbsp;18222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66146 |
| Falabella SA | &nbsp;&nbsp;&nbsp;&nbsp;29974 | &nbsp;&nbsp;&nbsp;&nbsp;159261 |
| Latam Airlines Group SA | 8049276 | &nbsp;&nbsp;&nbsp;&nbsp;162951 |
| Sociedad Quimica y Minera de Chile SA, ADR (A)(D) | &nbsp;&nbsp;&nbsp;&nbsp;4430 | &nbsp;&nbsp;&nbsp;&nbsp;156246 |
|  |  | &nbsp;&nbsp;&nbsp;1771414 |
| **China - 7.6%** |  |  |
| 360 Security Technology, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;14500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20653 |
| 37 Interactive Entertainment Network Technology Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;4700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11347 |
| AAC Technologies Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;27342 | &nbsp;&nbsp;&nbsp;&nbsp;142256 |
| Advanced Micro-Fabrication Equipment, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;1253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31910 |
| AECC Aviation Power Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;5500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29600 |
| Agricultural Bank of China, Ltd., Class A | &nbsp;&nbsp;182100 | &nbsp;&nbsp;&nbsp;&nbsp;149460 |
| Agricultural Bank of China, Ltd., H Shares | &nbsp;&nbsp;989000 | &nbsp;&nbsp;&nbsp;&nbsp;706757 |
| Aier Eye Hospital Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;19585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34130 |
| Air China, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;23600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26001 |
| Akeso, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp;270666 |
| Alibaba Group Holding, Ltd. | &nbsp;&nbsp;610400 | &nbsp;&nbsp;&nbsp;8640786 |
| Alibaba Group Holding, Ltd., ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;338 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38333 |
| Aluminum Corp. of China, Ltd., A Shares | &nbsp;&nbsp;&nbsp;&nbsp;29100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28652 |
| Aluminum Corp. of China, Ltd., H Shares | &nbsp;&nbsp;131220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88717 |
| Angel Yeast Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8838 |
| Anhui Conch Cement Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;8900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26679 |
| Anhui Conch Cement Company, Ltd., H Shares | &nbsp;&nbsp;&nbsp;&nbsp;44290 | &nbsp;&nbsp;&nbsp;&nbsp;112829 |
| Anhui Gujing Distillery Company, Ltd., B Shares | &nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48179 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 29 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### International Equity Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **China (continued)** |  |  |
| Anhui Gujing Distillery Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | $&nbsp;&nbsp;&nbsp;&nbsp;16736 |
| Anhui Jianghuai Automobile Group Corp. Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;4500 | &nbsp;&nbsp;&nbsp;&nbsp;25160 |
| Anhui Yingjia Distillery Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;1400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7708 |
| Anker Innovations Technology Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;1040 | &nbsp;&nbsp;&nbsp;&nbsp;16504 |
| ANTA Sports Products, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;44200 | &nbsp;&nbsp;&nbsp;&nbsp;534810 |
| Autohome, Inc., ADR | &nbsp;&nbsp;&nbsp;&nbsp;2600 | &nbsp;&nbsp;&nbsp;&nbsp;67054 |
| Avary Holding Shenzhen Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;17904 |
| AviChina Industry & Technology Company, Ltd., H Shares | &nbsp;&nbsp;120000 | &nbsp;&nbsp;&nbsp;&nbsp;67895 |
| BAIC BluePark New Energy Technology Company, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;11600 | &nbsp;&nbsp;&nbsp;&nbsp;11930 |
| Baidu, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;80300 | &nbsp;&nbsp;&nbsp;&nbsp;860569 |
| Bank of Beijing Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;47000 | &nbsp;&nbsp;&nbsp;&nbsp;44808 |
| Bank of Changsha Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;8400 | &nbsp;&nbsp;&nbsp;&nbsp;11656 |
| Bank of Chengdu Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;7700 | &nbsp;&nbsp;&nbsp;&nbsp;21604 |
| Bank of China, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;78100 | &nbsp;&nbsp;&nbsp;&nbsp;61270 |
| Bank of China, Ltd., H Shares | 2534563 | 1475526 |
| Bank of Communications Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;87300 | &nbsp;&nbsp;&nbsp;&nbsp;97492 |
| Bank of Communications Company, Ltd., H Shares | &nbsp;&nbsp;308527 | &nbsp;&nbsp;&nbsp;&nbsp;287501 |
| Bank of Hangzhou Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;11400 | &nbsp;&nbsp;&nbsp;&nbsp;26765 |
| Bank of Jiangsu Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;33410 | &nbsp;&nbsp;&nbsp;&nbsp;55683 |
| Bank of Nanjing Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;21500 | &nbsp;&nbsp;&nbsp;&nbsp;34869 |
| Bank of Ningbo Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;13750 | &nbsp;&nbsp;&nbsp;&nbsp;52519 |
| Bank of Shanghai Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;31610 | &nbsp;&nbsp;&nbsp;&nbsp;46810 |
| Baoshan Iron & Steel Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;41300 | &nbsp;&nbsp;&nbsp;&nbsp;37987 |
| Beijing Enlight Media Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;6300 | &nbsp;&nbsp;&nbsp;&nbsp;17835 |
| Beijing Kingsoft Office Software, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;935 | &nbsp;&nbsp;&nbsp;&nbsp;36562 |
| Beijing New Building Materials PLC, Class A | &nbsp;&nbsp;&nbsp;&nbsp;3500 | &nbsp;&nbsp;&nbsp;&nbsp;12940 |
| Beijing Roborock Technology Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;534 | &nbsp;&nbsp;&nbsp;&nbsp;11677 |
| Beijing Tiantan Biological Products Corp., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;4080 | &nbsp;&nbsp;&nbsp;&nbsp;10929 |
| Beijing Tong Ren Tang Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;2800 | &nbsp;&nbsp;&nbsp;&nbsp;14095 |
| Beijing Wantai Biological Pharmacy Enterprise Company, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;15329 |
| Beijing-Shanghai High Speed Railway Company, Ltd., Class A (A) | &nbsp;&nbsp;100700 | &nbsp;&nbsp;&nbsp;&nbsp;80860 |
| Bestechnic Shanghai Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;418 | &nbsp;&nbsp;&nbsp;&nbsp;20305 |
| Bethel Automotive Safety Systems Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;1260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9264 |
| Bilibili, Inc., Class Z (A) | &nbsp;&nbsp;&nbsp;&nbsp;7960 | &nbsp;&nbsp;&nbsp;&nbsp;170855 |
| BOC International China Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;5800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8658 |
| BOE Technology Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;75300 | &nbsp;&nbsp;&nbsp;&nbsp;41948 |
| BYD Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;185414 |
| BYD Company, Ltd., H Shares | &nbsp;&nbsp;130815 | 2036792 |
| BYD Electronic International Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;26500 | &nbsp;&nbsp;&nbsp;&nbsp;107861 |
| Caitong Securities Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;9600 | &nbsp;&nbsp;&nbsp;&nbsp;10606 |
| Cambricon Technologies Corp., Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;844 | &nbsp;&nbsp;&nbsp;&nbsp;70905 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **China (continued)** |  |  |
| CCOOP Group Company, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;64600 | $&nbsp;&nbsp;&nbsp;&nbsp;20936 |
| CGN Power Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;32300 | &nbsp;&nbsp;&nbsp;&nbsp;16414 |
| CGN Power Company, Ltd., H Shares (B) | &nbsp;&nbsp;364000 | &nbsp;&nbsp;&nbsp;&nbsp;124094 |
| Changchun High-Tech Industry Group Company, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;11080 |
| Changjiang Securities Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;11500 | &nbsp;&nbsp;&nbsp;&nbsp;11129 |
| Changzhou Xingyu Automotive Lighting Systems Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;10468 |
| Chaozhou Three-Circle Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;3900 | &nbsp;&nbsp;&nbsp;&nbsp;18199 |
| Chifeng Jilong Gold Mining Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;6200 | &nbsp;&nbsp;&nbsp;&nbsp;21773 |
| China CITIC Bank Corp., Ltd., H Shares | &nbsp;&nbsp;310800 | &nbsp;&nbsp;&nbsp;&nbsp;296311 |
| China Coal Energy Company, Ltd., H Shares | &nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;81039 |
| China Communications Services Corp., Ltd., H Shares | &nbsp;&nbsp;&nbsp;&nbsp;75600 | &nbsp;&nbsp;&nbsp;&nbsp;41040 |
| China Construction Bank Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;15400 | &nbsp;&nbsp;&nbsp;&nbsp;20295 |
| China Construction Bank Corp., H Shares | 3428914 | 3469877 |
| China CSSC Holdings, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;9100 | &nbsp;&nbsp;&nbsp;&nbsp;41332 |
| China Eastern Airlines Corp., Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;35500 | &nbsp;&nbsp;&nbsp;&nbsp;19974 |
| China Energy Engineering Corp., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;65700 | &nbsp;&nbsp;&nbsp;&nbsp;20454 |
| China Everbright Bank Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;88600 | &nbsp;&nbsp;&nbsp;&nbsp;51333 |
| China Everbright Bank Company, Ltd., H Shares | &nbsp;&nbsp;120000 | &nbsp;&nbsp;&nbsp;&nbsp;59964 |
| China Feihe, Ltd. (B) | &nbsp;&nbsp;119000 | &nbsp;&nbsp;&nbsp;&nbsp;86804 |
| China Galaxy Securities Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;19900 | &nbsp;&nbsp;&nbsp;&nbsp;47661 |
| China Galaxy Securities Company, Ltd., H Shares | &nbsp;&nbsp;129500 | &nbsp;&nbsp;&nbsp;&nbsp;146313 |
| China Great Wall Securities Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;8400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9829 |
| China Greatwall Technology Group Company, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;6500 | &nbsp;&nbsp;&nbsp;&nbsp;13426 |
| China Hongqiao Group, Ltd. | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;230260 |
| China Huishan Dairy Holdings Company, Ltd. (A)(E) | &nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| China International Capital Corp., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;19745 |
| China International Capital Corp., Ltd., H Shares (B) | &nbsp;&nbsp;&nbsp;&nbsp;52000 | &nbsp;&nbsp;&nbsp;&nbsp;117899 |
| China Jushi Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;8100 | &nbsp;&nbsp;&nbsp;&nbsp;12884 |
| China Life Insurance Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;4500 | &nbsp;&nbsp;&nbsp;&nbsp;25873 |
| China Life Insurance Company, Ltd., H Shares | &nbsp;&nbsp;267624 | &nbsp;&nbsp;&nbsp;&nbsp;645768 |
| China Literature, Ltd. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;14000 | &nbsp;&nbsp;&nbsp;&nbsp;53456 |
| China Longyuan Power Group Corp., Ltd., H Shares | &nbsp;&nbsp;114000 | &nbsp;&nbsp;&nbsp;&nbsp;102868 |
| China Mengniu Dairy Company, Ltd. | &nbsp;&nbsp;108004 | &nbsp;&nbsp;&nbsp;&nbsp;222620 |
| China Merchants Bank Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;45900 | &nbsp;&nbsp;&nbsp;&nbsp;294491 |
| China Merchants Bank Company, Ltd., H Shares | &nbsp;&nbsp;139323 | &nbsp;&nbsp;&nbsp;&nbsp;977345 |
| China Merchants Energy Shipping Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;16500 | &nbsp;&nbsp;&nbsp;&nbsp;14427 |
| China Merchants Expressway Network & Technology Holdings Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;6500 | &nbsp;&nbsp;&nbsp;&nbsp;10886 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 30 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### International Equity Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **China (continued)** |  |  |
| China Merchants Securities Company, Ltd., Class A | &nbsp;&nbsp;16510 | $&nbsp;&nbsp;&nbsp;40540 |
| China Merchants Shekou Industrial Zone Holdings Company, Ltd., Class A | &nbsp;&nbsp;17600 | &nbsp;&nbsp;&nbsp;21549 |
| China Minsheng Banking Corp., Ltd., Class A | &nbsp;&nbsp;78880 | &nbsp;&nbsp;&nbsp;52304 |
| China Minsheng Banking Corp., Ltd., H Shares | 230496 | 130752 |
| China National Building Material Company, Ltd., H Shares | 150187 | &nbsp;&nbsp;&nbsp;71886 |
| China National Chemical Engineering Company, Ltd., Class A | &nbsp;&nbsp;12700 | &nbsp;&nbsp;&nbsp;13601 |
| China National Nuclear Power Company, Ltd., Class A | &nbsp;&nbsp;38300 | &nbsp;&nbsp;&nbsp;49845 |
| China National Software & Service Company, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;11753 |
| China Northern Rare Earth Group High-Tech Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;7300 | &nbsp;&nbsp;&nbsp;25381 |
| China Oilfield Services, Ltd., H Shares | &nbsp;&nbsp;56000 | &nbsp;&nbsp;&nbsp;46006 |
| China Pacific Insurance Group Company, Ltd., Class A | &nbsp;&nbsp;14000 | &nbsp;&nbsp;&nbsp;73335 |
| China Pacific Insurance Group Company, Ltd., H Shares | &nbsp;&nbsp;94100 | 323738 |
| China Petroleum & Chemical Corp., Class A | &nbsp;&nbsp;56700 | &nbsp;&nbsp;&nbsp;44643 |
| China Petroleum & Chemical Corp., H Shares | 873361 | 458181 |
| China Railway Group, Ltd., Class A | &nbsp;&nbsp;42700 | &nbsp;&nbsp;&nbsp;33444 |
| China Railway Group, Ltd., H Shares | 144000 | &nbsp;&nbsp;&nbsp;69131 |
| China Railway Signal & Communication Corp., Ltd., Class A | &nbsp;&nbsp;14917 | &nbsp;&nbsp;&nbsp;10707 |
| China Rare Earth Resources and Technology Company, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;2200 | &nbsp;&nbsp;&nbsp;11096 |
| China Resources Microelectronics, Ltd., Class A | &nbsp;&nbsp;&nbsp;2675 | &nbsp;&nbsp;&nbsp;17613 |
| China Resources Mixc Lifestyle Services, Ltd. (B) | &nbsp;&nbsp;23400 | 113687 |
| China Resources Pharmaceutical Group, Ltd. (B) | &nbsp;&nbsp;53000 | &nbsp;&nbsp;&nbsp;34600 |
| China Resources Sanjiu Medical & Pharmaceutical Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;3380 | &nbsp;&nbsp;&nbsp;14761 |
| China Shenhua Energy Company, Ltd., Class A | &nbsp;&nbsp;13400 | &nbsp;&nbsp;&nbsp;75843 |
| China Shenhua Energy Company, Ltd., H Shares | 120500 | 468252 |
| China Southern Airlines Company, Ltd., Class A (A) | &nbsp;&nbsp;23300 | &nbsp;&nbsp;&nbsp;19192 |
| China State Construction Engineering Corp., Ltd., Class A (A) | &nbsp;&nbsp;93340 | &nbsp;&nbsp;&nbsp;75196 |
| China Three Gorges Renewables Group Company, Ltd., Class A | &nbsp;&nbsp;58700 | &nbsp;&nbsp;&nbsp;34907 |
| China Tourism Group Duty Free Corp., Ltd., Class A | &nbsp;&nbsp;&nbsp;4300 | &nbsp;&nbsp;&nbsp;36615 |
| China Tower Corp., Ltd., H Shares (B) | 158100 | 226665 |
| China United Network Communications, Ltd., Class A | &nbsp;&nbsp;64400 | &nbsp;&nbsp;&nbsp;48024 |
| China Vanke Company, Ltd., Class A (A) | &nbsp;&nbsp;21600 | &nbsp;&nbsp;&nbsp;19361 |
| China Vanke Company, Ltd., H Shares (A) | &nbsp;&nbsp;74500 | &nbsp;&nbsp;&nbsp;46476 |
| China XD Electric Company, Ltd., Class A | &nbsp;&nbsp;10600 | &nbsp;&nbsp;&nbsp;&nbsp;9088 |
| China Yangtze Power Company, Ltd., Class A | &nbsp;&nbsp;54300 | 228419 |
| China Zheshang Bank Company, Ltd., Class A | &nbsp;&nbsp;43700 | &nbsp;&nbsp;&nbsp;20679 |
| Chongqing Brewery Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;7693 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **China (continued)** |  |  |
| Chongqing Changan Automobile Company, Ltd., Class A (A) | &nbsp;&nbsp;16800 | $&nbsp;&nbsp;&nbsp;29927 |
| Chongqing Rural Commercial Bank Company, Ltd., Class A | &nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;18338 |
| Chongqing Rural Commercial Bank Company, Ltd., H Shares | &nbsp;&nbsp;81000 | &nbsp;&nbsp;&nbsp;68465 |
| Chongqing Zhifei Biological Products Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;4650 | &nbsp;&nbsp;&nbsp;12725 |
| Citic Pacific Special Steel Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;7100 | &nbsp;&nbsp;&nbsp;11659 |
| CITIC Securities Company, Ltd., Class A | &nbsp;&nbsp;25185 | &nbsp;&nbsp;&nbsp;97122 |
| CITIC Securities Company, Ltd., H Shares | &nbsp;&nbsp;52825 | 160228 |
| CITIC, Ltd. | 141967 | 195469 |
| CMOC Group, Ltd., Class A | &nbsp;&nbsp;28400 | &nbsp;&nbsp;&nbsp;33410 |
| CMOC Group, Ltd., H Shares | 129000 | 131654 |
| CNGR Advanced Material Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;1960 | &nbsp;&nbsp;&nbsp;&nbsp;8999 |
| CNPC Capital Company, Ltd., Class A | &nbsp;&nbsp;17300 | &nbsp;&nbsp;&nbsp;17646 |
| Contemporary Amperex Technology Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;9320 | 328552 |
| Contemporary Amperex Technology Company, Ltd., H Shares (A) | &nbsp;&nbsp;&nbsp;3100 | 130003 |
| COSCO SHIPPING Energy Transportation Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;7200 | &nbsp;&nbsp;&nbsp;10394 |
| COSCO SHIPPING Holdings Company, Ltd., Class A | &nbsp;&nbsp;26000 | &nbsp;&nbsp;&nbsp;54613 |
| COSCO SHIPPING Holdings Company, Ltd., H Shares | 101600 | 176877 |
| CRRC Corp., Ltd., Class A | &nbsp;&nbsp;49300 | &nbsp;&nbsp;&nbsp;48470 |
| CRRC Corp., Ltd., H Shares | 145000 | &nbsp;&nbsp;&nbsp;87624 |
| CSC Financial Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;30219 |
| CSPC Innovation Pharmaceutical Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;2880 | &nbsp;&nbsp;&nbsp;20790 |
| CSPC Pharmaceutical Group, Ltd. | 303120 | 298167 |
| Daqin Railway Company, Ltd., Class A | &nbsp;&nbsp;30700 | &nbsp;&nbsp;&nbsp;28293 |
| Datang International Power Generation Company, Ltd., Class A | &nbsp;&nbsp;48800 | &nbsp;&nbsp;&nbsp;21613 |
| Dong-E-E-Jiao Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;1300 | &nbsp;&nbsp;&nbsp;&nbsp;9490 |
| Dongfang Electric Corp., Ltd., Class A | &nbsp;&nbsp;&nbsp;5800 | &nbsp;&nbsp;&nbsp;13557 |
| East Money Information Company, Ltd., Class A | &nbsp;&nbsp;30896 | &nbsp;&nbsp;&nbsp;99833 |
| Eastroc Beverage Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;1350 | &nbsp;&nbsp;&nbsp;59177 |
| Ecovacs Robotics Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;2300 | &nbsp;&nbsp;&nbsp;18699 |
| Empyrean Technology Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;13840 |
| ENN Energy Holdings, Ltd. | &nbsp;&nbsp;27900 | 223982 |
| ENN Natural Gas Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;14243 |
| Eoptolink Technology, Inc., Ltd., Class A | &nbsp;&nbsp;&nbsp;2100 | &nbsp;&nbsp;&nbsp;37452 |
| Eve Energy Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;4181 | &nbsp;&nbsp;&nbsp;26749 |
| Everbright Securities Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;8700 | &nbsp;&nbsp;&nbsp;21842 |
| Everdisplay Optronics Shanghai Company, Ltd., Class A (A) | &nbsp;&nbsp;23977 | &nbsp;&nbsp;&nbsp;&nbsp;7831 |
| Flat Glass Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;3300 | &nbsp;&nbsp;&nbsp;&nbsp;7011 |
| Focus Media Information Technology Company, Ltd., Class A | &nbsp;&nbsp;32700 | &nbsp;&nbsp;&nbsp;33331 |
| Foshan Haitian Flavouring & Food Company, Ltd., Class A | &nbsp;&nbsp;10296 | &nbsp;&nbsp;&nbsp;55953 |
| Fosun International, Ltd. | &nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;50644 |
| Founder Securities Company, Ltd., Class A | &nbsp;&nbsp;16700 | &nbsp;&nbsp;&nbsp;18447 |
| Foxconn Industrial Internet Company, Ltd., Class A | &nbsp;&nbsp;27100 | &nbsp;&nbsp;&nbsp;81263 |
| Fuyao Glass Industry Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;4500 | &nbsp;&nbsp;&nbsp;35796 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 31 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### International Equity Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **China (continued)** |  |  |
| Fuyao Glass Industry Group Company, Ltd., H Shares (B) | 20800 | $148624 |
| GalaxyCore, Inc., Class A | &nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;7745 |
| Ganfeng Lithium Group Company, Ltd., Class A | &nbsp;&nbsp;3360 | &nbsp;&nbsp;&nbsp;15842 |
| GD Power Development Company, Ltd., Class A | 36100 | &nbsp;&nbsp;&nbsp;24398 |
| GEM Company, Ltd., Class A | 10700 | &nbsp;&nbsp;&nbsp;&nbsp;9487 |
| Genscript Biotech Corp. (A) | 40000 | &nbsp;&nbsp;&nbsp;75686 |
| GF Securities Company, Ltd., Class A | 13200 | &nbsp;&nbsp;&nbsp;30980 |
| Giant Biogene Holding Company, Ltd. (B) | 10200 | &nbsp;&nbsp;&nbsp;75270 |
| GigaDevice Semiconductor, Inc., Class A (A) | &nbsp;&nbsp;1372 | &nbsp;&nbsp;&nbsp;24247 |
| GoerTek, Inc., Class A | &nbsp;&nbsp;5200 | &nbsp;&nbsp;&nbsp;16942 |
| Goldwind Science & Technology Company, Ltd., Class A | &nbsp;&nbsp;7700 | &nbsp;&nbsp;&nbsp;11019 |
| Goneo Group Company, Ltd., Class A | &nbsp;&nbsp;1827 | &nbsp;&nbsp;&nbsp;12305 |
| Gotion High-tech Company, Ltd., Class A (A) | &nbsp;&nbsp;3700 | &nbsp;&nbsp;&nbsp;16770 |
| Great Wall Motor Company, Ltd., Class A (A) | &nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;14998 |
| Great Wall Motor Company, Ltd., H Shares | 81500 | 125841 |
| Gree Electric Appliances, Inc. of Zhuhai, Class A | &nbsp;&nbsp;5700 | &nbsp;&nbsp;&nbsp;35749 |
| GRG Banking Equipment Company, Ltd., Class A | &nbsp;&nbsp;5200 | &nbsp;&nbsp;&nbsp;&nbsp;9769 |
| Guangdong Haid Group Company, Ltd., Class A | &nbsp;&nbsp;3500 | &nbsp;&nbsp;&nbsp;28620 |
| Guanghui Energy Company, Ltd., Class A (A) | 13500 | &nbsp;&nbsp;&nbsp;11346 |
| Guangzhou Automobile Group Company, Ltd., Class A | 10000 | &nbsp;&nbsp;&nbsp;10453 |
| Guangzhou Baiyunshan Pharmaceutical Holdings Company, Ltd., Class A | &nbsp;&nbsp;2300 | &nbsp;&nbsp;&nbsp;&nbsp;8463 |
| Guangzhou Haige Communications Group, Inc. Company, Class A | &nbsp;&nbsp;5200 | &nbsp;&nbsp;&nbsp;10126 |
| Guangzhou Tinci Materials Technology Company, Ltd., Class A | &nbsp;&nbsp;3900 | &nbsp;&nbsp;&nbsp;&nbsp;9865 |
| Guosen Securities Company, Ltd., Class A | 13300 | &nbsp;&nbsp;&nbsp;21390 |
| Guotai Haitong Securities Company, Ltd. | 27860 | &nbsp;&nbsp;&nbsp;74564 |
| Guotai Haitong Securities Company, Ltd., H Shares (B) | 70184 | 112884 |
| Guoyuan Securities Company, Ltd., Class A | &nbsp;&nbsp;9100 | &nbsp;&nbsp;&nbsp;10025 |
| H World Group, Ltd., ADR | &nbsp;&nbsp;7100 | 240832 |
| Haidilao International Holding, Ltd. (B) | 56000 | 106768 |
| Haier Smart Home Company, Ltd., Class A | 13600 | &nbsp;&nbsp;&nbsp;47062 |
| Haier Smart Home Company, Ltd., H Shares | 83800 | 240808 |
| Hainan Airlines Holding Company, Ltd., Class A (A) | 87600 | &nbsp;&nbsp;&nbsp;16389 |
| Hainan Airport Infrastructure Company, Ltd., Class A (A) | 23700 | &nbsp;&nbsp;&nbsp;11720 |
| Haisco Pharmaceutical Group Company, Ltd., Class A | &nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;11794 |
| Haitian International Holdings, Ltd. | 21000 | &nbsp;&nbsp;&nbsp;54689 |
| Hangzhou First Applied Material Company, Ltd., Class A | &nbsp;&nbsp;7683 | &nbsp;&nbsp;&nbsp;13911 |
| Hangzhou Silan Microelectronics Company, Ltd., Class A | &nbsp;&nbsp;2600 | &nbsp;&nbsp;&nbsp;&nbsp;9016 |
| Hangzhou Tigermed Consulting Company, Ltd., A Shares | &nbsp;&nbsp;1700 | &nbsp;&nbsp;&nbsp;12657 |
| Hansoh Pharmaceutical Group Company, Ltd. (B) | 40000 | 152012 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **China (continued)** |  |  |
| Hebei Yangyuan Zhihui Beverage Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;2600 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7681 |
| Henan Shenhuo Coal Industry & Electricity Power Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;4700 | &nbsp;&nbsp;&nbsp;&nbsp;10922 |
| Henan Shuanghui Investment & Development Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;7200 | &nbsp;&nbsp;&nbsp;&nbsp;24533 |
| Hengan International Group Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;71955 |
| Hengli Petrochemical Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;14600 | &nbsp;&nbsp;&nbsp;&nbsp;29060 |
| Hengtong Optic-electric Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;5100 | &nbsp;&nbsp;&nbsp;&nbsp;10900 |
| Hisense Home Appliances Group Company, Ltd., H Shares | &nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;32781 |
| Hithink RoyalFlush Information Network Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp;34318 |
| HLA Group Corp., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;9100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8843 |
| Hoshine Silicon Industry Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;1600 | &nbsp;&nbsp;&nbsp;&nbsp;10590 |
| Hua Hong Semiconductor, Ltd. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;111078 |
| Huadian Power International Corp., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;17700 | &nbsp;&nbsp;&nbsp;&nbsp;13521 |
| Huadong Medicine Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;2800 | &nbsp;&nbsp;&nbsp;&nbsp;15775 |
| Huafon Chemical Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;10300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9505 |
| Huagong Tech Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;2100 | &nbsp;&nbsp;&nbsp;&nbsp;13786 |
| Huaibei Mining Holdings Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;5200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8231 |
| Hualan Biological Engineering, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;4030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8816 |
| Huaneng Lancang River Hydropower, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;18900 | &nbsp;&nbsp;&nbsp;&nbsp;25190 |
| Huaneng Power International, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;18600 | &nbsp;&nbsp;&nbsp;&nbsp;18535 |
| Huaneng Power International, Inc., H Shares | &nbsp;&nbsp;149436 | &nbsp;&nbsp;&nbsp;&nbsp;96383 |
| Huaqin Technology Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;28200 |
| Huatai Securities Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;16400 | &nbsp;&nbsp;&nbsp;&nbsp;40798 |
| Huatai Securities Company, Ltd., H Shares (B) | &nbsp;&nbsp;&nbsp;&nbsp;48800 | &nbsp;&nbsp;&nbsp;&nbsp;99244 |
| Huaxia Bank Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;28500 | &nbsp;&nbsp;&nbsp;&nbsp;31468 |
| Huayu Automotive Systems Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;5100 | &nbsp;&nbsp;&nbsp;&nbsp;12558 |
| Huizhou Desay Sv Automotive Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp;15678 |
| Humanwell Healthcare Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;3400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9955 |
| Hunan Valin Steel Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;14300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8785 |
| Hundsun Technologies, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;3075 | &nbsp;&nbsp;&nbsp;&nbsp;14406 |
| Hwatsing Technology Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;491 | &nbsp;&nbsp;&nbsp;&nbsp;11572 |
| Hygon Information Technology Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;5383 | &nbsp;&nbsp;&nbsp;&nbsp;106292 |
| IEIT Systems Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;3248 | &nbsp;&nbsp;&nbsp;&nbsp;23122 |
| Iflytek Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;4700 | &nbsp;&nbsp;&nbsp;&nbsp;31421 |
| Imeik Technology Development Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560 | &nbsp;&nbsp;&nbsp;&nbsp;13667 |
| Industrial & Commercial Bank of China, Ltd., Class A | &nbsp;&nbsp;143500 | &nbsp;&nbsp;&nbsp;&nbsp;152042 |
| Industrial & Commercial Bank of China, Ltd., H Shares | 2464735 | 1957137 |
| Industrial Bank Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;46200 | &nbsp;&nbsp;&nbsp;&nbsp;150534 |
| Industrial Securities Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;14900 | &nbsp;&nbsp;&nbsp;&nbsp;12881 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 32 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### International Equity Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **China (continued)** |  |  |
| Ingenic Semiconductor Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;2800 | $&nbsp;&nbsp;&nbsp;&nbsp;27059 |
| Inner Mongolia BaoTou Steel Union Company, Ltd., Class A | &nbsp;&nbsp;94300 | &nbsp;&nbsp;&nbsp;&nbsp;23567 |
| Inner Mongolia Dian Tou Energy Corp., Ltd., Class A | &nbsp;&nbsp;&nbsp;4700 | &nbsp;&nbsp;&nbsp;&nbsp;12965 |
| Inner Mongolia Junzheng Energy & Chemical Industry Group Company, Ltd., Class A | &nbsp;&nbsp;17500 | &nbsp;&nbsp;&nbsp;&nbsp;13485 |
| Inner Mongolia Yili Industrial Group Company, Ltd., Class A | &nbsp;&nbsp;13600 | &nbsp;&nbsp;&nbsp;&nbsp;52949 |
| Inner Mongolia Yitai Coal Company, Ltd., Class B | &nbsp;&nbsp;36400 | &nbsp;&nbsp;&nbsp;&nbsp;72136 |
| Innovent Biologics, Inc. (A)(B) | &nbsp;&nbsp;44000 | &nbsp;&nbsp;&nbsp;&nbsp;441086 |
| Isoftstone Information Technology Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;15258 |
| J&T Global Express, Ltd. (A) | &nbsp;&nbsp;82400 | &nbsp;&nbsp;&nbsp;&nbsp;71361 |
| JA Solar Technology Company, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;6272 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8741 |
| JCET Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;16936 |
| JD Health International, Inc. (A)(B) | &nbsp;&nbsp;38200 | &nbsp;&nbsp;&nbsp;&nbsp;210399 |
| JD Logistics, Inc. (A)(B) | &nbsp;&nbsp;67000 | &nbsp;&nbsp;&nbsp;&nbsp;112639 |
| JD.com, Inc., Class A | &nbsp;&nbsp;86723 | 1416386 |
| Jiangsu Eastern Shenghong Company, Ltd., Class A (A) | &nbsp;&nbsp;13400 | &nbsp;&nbsp;&nbsp;&nbsp;15580 |
| Jiangsu Expressway Company, Ltd., H Shares | &nbsp;&nbsp;41145 | &nbsp;&nbsp;&nbsp;&nbsp;58128 |
| Jiangsu Hengli Hydraulic Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;2960 | &nbsp;&nbsp;&nbsp;&nbsp;29771 |
| Jiangsu Hengrui Pharmaceuticals Company, Ltd., Class A | &nbsp;&nbsp;14198 | &nbsp;&nbsp;&nbsp;&nbsp;102851 |
| Jiangsu Hoperun Software Company, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;21292 |
| Jiangsu King's Luck Brewery JSC, Ltd., Class A | &nbsp;&nbsp;&nbsp;2800 | &nbsp;&nbsp;&nbsp;&nbsp;15218 |
| Jiangsu Yanghe Distillery Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;3400 | &nbsp;&nbsp;&nbsp;&nbsp;30641 |
| Jiangsu Yuyue Medical Equipment & Supply Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;2100 | &nbsp;&nbsp;&nbsp;&nbsp;10435 |
| Jiangsu Zhongtian Technology Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;7100 | &nbsp;&nbsp;&nbsp;&nbsp;14350 |
| Jiangxi Copper Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;4300 | &nbsp;&nbsp;&nbsp;&nbsp;14081 |
| Jiangxi Copper Company, Ltd., H Shares | &nbsp;&nbsp;39075 | &nbsp;&nbsp;&nbsp;&nbsp;76065 |
| Jinduicheng Molybdenum Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;6700 | &nbsp;&nbsp;&nbsp;&nbsp;10236 |
| Jinko Solar Company, Ltd., Class A (A) | &nbsp;&nbsp;13511 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9792 |
| Juneyao Airlines Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8653 |
| Kanzhun, Ltd., ADR (A) | &nbsp;&nbsp;10400 | &nbsp;&nbsp;&nbsp;&nbsp;185536 |
| KE Holdings, Inc., ADR | &nbsp;&nbsp;24700 | &nbsp;&nbsp;&nbsp;&nbsp;438178 |
| Kingdee International Software Group Company, Ltd. (A) | 113000 | &nbsp;&nbsp;&nbsp;&nbsp;223342 |
| Kingsoft Corp., Ltd. | &nbsp;&nbsp;32800 | &nbsp;&nbsp;&nbsp;&nbsp;171431 |
| Kuaishou Technology (A)(B) | &nbsp;&nbsp;94000 | &nbsp;&nbsp;&nbsp;&nbsp;763053 |
| Kuang-Chi Technologies Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;4500 | &nbsp;&nbsp;&nbsp;&nbsp;25104 |
| Kunlun Tech Company, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;11743 |
| Kweichow Moutai Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;531489 |
| LB Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;11326 |
| Lenovo Group, Ltd. | 287436 | &nbsp;&nbsp;&nbsp;&nbsp;347278 |
| Lens Technology Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;7300 | &nbsp;&nbsp;&nbsp;&nbsp;22751 |
| Li Auto, Inc., Class A (A) | &nbsp;&nbsp;44600 | &nbsp;&nbsp;&nbsp;&nbsp;608745 |
| Li Ning Company, Ltd. | &nbsp;&nbsp;80500 | &nbsp;&nbsp;&nbsp;&nbsp;174457 |
| Liaoning Port Company, Ltd., Class A | &nbsp;&nbsp;39100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8192 |
| Lingyi iTech Guangdong Company, Class A | &nbsp;&nbsp;12700 | &nbsp;&nbsp;&nbsp;&nbsp;15242 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **China (continued)** |  |  |
| Longfor Group Holdings, Ltd. (B) | &nbsp;&nbsp;65779 | $&nbsp;&nbsp;&nbsp;&nbsp;77946 |
| LONGi Green Energy Technology Company, Ltd., Class A | &nbsp;&nbsp;15064 | &nbsp;&nbsp;&nbsp;&nbsp;31593 |
| Loongson Technology Corp, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;1251 | &nbsp;&nbsp;&nbsp;&nbsp;23313 |
| Luxshare Precision Industry Company, Ltd., Class A | &nbsp;&nbsp;15495 | &nbsp;&nbsp;&nbsp;&nbsp;75078 |
| Luzhou Laojiao Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;3300 | &nbsp;&nbsp;&nbsp;&nbsp;52264 |
| Mango Excellent Media Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;3300 | &nbsp;&nbsp;&nbsp;&nbsp;10055 |
| Maxscend Microelectronics Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;1440 | &nbsp;&nbsp;&nbsp;&nbsp;14359 |
| Meihua Holdings Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;6100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9103 |
| Meituan, Class B (A)(B) | 177500 | 2855272 |
| Metallurgical Corp. of China, Ltd., Class A | &nbsp;&nbsp;28700 | &nbsp;&nbsp;&nbsp;&nbsp;11941 |
| Midea Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;7300 | &nbsp;&nbsp;&nbsp;&nbsp;73584 |
| Midea Group Company, Ltd., H Shares | &nbsp;&nbsp;12800 | &nbsp;&nbsp;&nbsp;&nbsp;121695 |
| MINISO Group Holding, Ltd. | &nbsp;&nbsp;&nbsp;2600 | &nbsp;&nbsp;&nbsp;&nbsp;11847 |
| MINISO Group Holding, Ltd., ADR (D) | &nbsp;&nbsp;&nbsp;3276 | &nbsp;&nbsp;&nbsp;&nbsp;59689 |
| Montage Technology Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;2305 | &nbsp;&nbsp;&nbsp;&nbsp;26398 |
| Muyuan Foods Company, Ltd., Class A | &nbsp;&nbsp;11382 | &nbsp;&nbsp;&nbsp;&nbsp;66769 |
| Nanjing Securities Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;7700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8688 |
| NARI Technology Company, Ltd., Class A | &nbsp;&nbsp;17798 | &nbsp;&nbsp;&nbsp;&nbsp;55694 |
| National Silicon Industry Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;5536 | &nbsp;&nbsp;&nbsp;&nbsp;14480 |
| NAURA Technology Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp;67938 |
| NetEase, Inc. | &nbsp;&nbsp;67900 | 1829862 |
| New China Life Insurance Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;37598 |
| New China Life Insurance Company, Ltd., H Shares | &nbsp;&nbsp;35500 | &nbsp;&nbsp;&nbsp;&nbsp;194389 |
| New Hope Liuhe Company, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;6800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8906 |
| New Oriental Education & Technology Group, Inc. | &nbsp;&nbsp;52500 | &nbsp;&nbsp;&nbsp;&nbsp;283513 |
| Nexchip Semiconductor Corp., Class A | &nbsp;&nbsp;&nbsp;7599 | &nbsp;&nbsp;&nbsp;&nbsp;21515 |
| Ninestar Corp., Class A (A) | &nbsp;&nbsp;&nbsp;2900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9290 |
| Ningbo Deye Technology Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;1764 | &nbsp;&nbsp;&nbsp;&nbsp;12970 |
| Ningbo Sanxing Medical Electric Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;2900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9074 |
| Ningbo Tuopu Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;3190 | &nbsp;&nbsp;&nbsp;&nbsp;21004 |
| Ningxia Baofeng Energy Group Company, Ltd., Class A | &nbsp;&nbsp;14900 | &nbsp;&nbsp;&nbsp;&nbsp;33561 |
| NIO, Inc., Class A (A) | &nbsp;&nbsp;56730 | &nbsp;&nbsp;&nbsp;&nbsp;194147 |
| Nongfu Spring Company, Ltd., H Shares (B) | &nbsp;&nbsp;71000 | &nbsp;&nbsp;&nbsp;&nbsp;364215 |
| OFILM Group Company, Ltd., Class A (A) | &nbsp;&nbsp;13100 | &nbsp;&nbsp;&nbsp;&nbsp;21685 |
| Oppein Home Group, Inc., Class A | &nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8670 |
| Orient Securities Company, Ltd., Class A | &nbsp;&nbsp;12288 | &nbsp;&nbsp;&nbsp;&nbsp;16611 |
| PetroChina Company, Ltd., Class A | &nbsp;&nbsp;44800 | &nbsp;&nbsp;&nbsp;&nbsp;53465 |
| PetroChina Company, Ltd., H Shares | 742261 | &nbsp;&nbsp;&nbsp;&nbsp;639663 |
| Pharmaron Beijing Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;10283 |
| PICC Property & Casualty Company, Ltd., H Shares | 248363 | &nbsp;&nbsp;&nbsp;&nbsp;482613 |
| Ping An Bank Company, Ltd., Class A | &nbsp;&nbsp;38200 | &nbsp;&nbsp;&nbsp;&nbsp;64365 |
| Ping An Insurance Group Company of China, Ltd., Class A | &nbsp;&nbsp;24100 | &nbsp;&nbsp;&nbsp;&nbsp;186755 |
| Ping An Insurance Group Company of China, Ltd., H Shares | 238790 | 1524272 |
| Piotech, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;568 | &nbsp;&nbsp;&nbsp;&nbsp;12193 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 33 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### International Equity Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **China (continued)** |  |  |
| Poly Developments and Holdings Group Company, Ltd., Class A | &nbsp;&nbsp;26500 | $&nbsp;&nbsp;&nbsp;29959 |
| Pop Mart International Group, Ltd. (B) | &nbsp;&nbsp;19200 | 654128 |
| Postal Savings Bank of China Company, Ltd., Class A | &nbsp;&nbsp;58900 | &nbsp;&nbsp;&nbsp;44980 |
| Postal Savings Bank of China Company, Ltd., H Shares (B) | 330000 | 230743 |
| Power Construction Corp. of China, Ltd., Class A | &nbsp;&nbsp;35800 | &nbsp;&nbsp;&nbsp;24343 |
| Qifu Technology, Inc., ADR | &nbsp;&nbsp;&nbsp;4300 | 186448 |
| Qinghai Salt Lake Industry Company, Ltd., Class A (A) | &nbsp;&nbsp;11000 | &nbsp;&nbsp;&nbsp;26209 |
| Range Intelligent Computing Technology Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;20728 |
| Rockchip Electronics Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;1300 | &nbsp;&nbsp;&nbsp;27608 |
| Rongsheng Petrochemical Company, Ltd., Class A | &nbsp;&nbsp;21050 | &nbsp;&nbsp;&nbsp;24325 |
| SAIC Motor Corp., Ltd., Class A | &nbsp;&nbsp;17300 | &nbsp;&nbsp;&nbsp;38742 |
| Sailun Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;6500 | &nbsp;&nbsp;&nbsp;11908 |
| Sanan Optoelectronics Company, Ltd., Class A | &nbsp;&nbsp;10100 | &nbsp;&nbsp;&nbsp;17516 |
| Sany Heavy Industry Company, Ltd., Class A | &nbsp;&nbsp;18600 | &nbsp;&nbsp;&nbsp;46617 |
| Satellite Chemical Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;6800 | &nbsp;&nbsp;&nbsp;16463 |
| SDIC Capital Company, Ltd., Class A | &nbsp;&nbsp;13300 | &nbsp;&nbsp;&nbsp;13967 |
| SDIC Power Holdings Company, Ltd., Class A | &nbsp;&nbsp;15100 | &nbsp;&nbsp;&nbsp;31032 |
| Seres Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;3100 | &nbsp;&nbsp;&nbsp;58109 |
| SF Holding Company, Ltd., Class A | &nbsp;&nbsp;10100 | &nbsp;&nbsp;&nbsp;68777 |
| SG Micro Corp., Class A | &nbsp;&nbsp;&nbsp;1300 | &nbsp;&nbsp;&nbsp;13227 |
| Shaanxi Coal Industry Company, Ltd., Class A | &nbsp;&nbsp;19600 | &nbsp;&nbsp;&nbsp;52649 |
| Shandong Gold Mining Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;5880 | &nbsp;&nbsp;&nbsp;26410 |
| Shandong Gold Mining Company, Ltd., H Shares (B) | &nbsp;&nbsp;30500 | 107013 |
| Shandong Himile Mechanical Science & Technology Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;2900 | &nbsp;&nbsp;&nbsp;23973 |
| Shandong Hualu Hengsheng Chemical Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;4300 | &nbsp;&nbsp;&nbsp;13005 |
| Shandong Nanshan Aluminum Company, Ltd., Class A | &nbsp;&nbsp;24300 | &nbsp;&nbsp;&nbsp;12991 |
| Shandong Sun Paper Industry JSC, Ltd., Class A | &nbsp;&nbsp;&nbsp;5800 | &nbsp;&nbsp;&nbsp;10898 |
| Shandong Weigao Group Medical Polymer Company, Ltd., H Shares | &nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;62343 |
| Shanghai Baosight Software Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;4320 | &nbsp;&nbsp;&nbsp;14247 |
| Shanghai Baosight Software Company, Ltd., Class B | &nbsp;&nbsp;32947 | &nbsp;&nbsp;&nbsp;44657 |
| Shanghai BOCHU Electronic Technology Corp., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;595 | &nbsp;&nbsp;&nbsp;10936 |
| Shanghai Electric Group Company, Ltd., Class A (A) | &nbsp;&nbsp;25600 | &nbsp;&nbsp;&nbsp;26435 |
| Shanghai Fosun Pharmaceutical Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;3200 | &nbsp;&nbsp;&nbsp;11206 |
| Shanghai International Airport Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;1600 | &nbsp;&nbsp;&nbsp;&nbsp;7098 |
| Shanghai M&G Stationery, Inc., Class A | &nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;8097 |
| Shanghai Pharmaceuticals Holding Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;5600 | &nbsp;&nbsp;&nbsp;13974 |
| Shanghai Pudong Development Bank Company, Ltd., Class A | &nbsp;&nbsp;65300 | 126556 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **China (continued)** |  |  |
| Shanghai Putailai New Energy Technology Company, Ltd., Class A | &nbsp;&nbsp;4100 | $&nbsp;&nbsp;&nbsp;10752 |
| Shanghai RAAS Blood Products Company, Ltd., Class A | 13800 | &nbsp;&nbsp;&nbsp;13237 |
| Shanghai Rural Commercial Bank Company, Ltd., Class A | 19500 | &nbsp;&nbsp;&nbsp;26398 |
| Shanghai United Imaging Healthcare Company, Ltd., Class A | &nbsp;&nbsp;1689 | &nbsp;&nbsp;&nbsp;30116 |
| Shanghai Zhangjiang High-Tech Park Development Company, Ltd., Class A | &nbsp;&nbsp;3200 | &nbsp;&nbsp;&nbsp;11479 |
| Shanjin International Gold Company, Ltd., Class A | &nbsp;&nbsp;5800 | &nbsp;&nbsp;&nbsp;15362 |
| Shanxi Coking Coal Energy Group Company, Ltd., Class A | 11600 | &nbsp;&nbsp;&nbsp;10359 |
| Shanxi Lu'an Environmental Energy Development Company, Ltd., Class A | &nbsp;&nbsp;6100 | &nbsp;&nbsp;&nbsp;&nbsp;8985 |
| Shanxi Xinghuacun Fen Wine Factory Company, Ltd., Class A | &nbsp;&nbsp;2460 | &nbsp;&nbsp;&nbsp;60603 |
| Shenergy Company, Ltd., Class A (A) | 10200 | &nbsp;&nbsp;&nbsp;12247 |
| Shengyi Technology Company, Ltd., Class A | &nbsp;&nbsp;5100 | &nbsp;&nbsp;&nbsp;21486 |
| Shennan Circuits Company, Ltd., Class A | &nbsp;&nbsp;1456 | &nbsp;&nbsp;&nbsp;21952 |
| Shenwan Hongyuan Group Company, Ltd., Class A | 36200 | &nbsp;&nbsp;&nbsp;25373 |
| Shenzhen Goodix Technology Company, Ltd., Class A | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;9916 |
| Shenzhen Inovance Technology Company, Ltd., Class A | &nbsp;&nbsp;2250 | &nbsp;&nbsp;&nbsp;20286 |
| Shenzhen Mindray Bio-Medical Electronics Company, Ltd., Class A | &nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;78464 |
| Shenzhen New Industries Biomedical Engineering Company, Ltd., Class A | &nbsp;&nbsp;1600 | &nbsp;&nbsp;&nbsp;12668 |
| Shenzhen Salubris Pharmaceuticals Company, Ltd., Class A | &nbsp;&nbsp;2300 | &nbsp;&nbsp;&nbsp;15198 |
| Shenzhen Transsion Holdings Company, Ltd., Class A | &nbsp;&nbsp;2280 | &nbsp;&nbsp;&nbsp;25399 |
| Shenzhou International Group Holdings, Ltd. | 28300 | 202292 |
| Sichuan Biokin Pharmaceutical Company, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;429 | &nbsp;&nbsp;&nbsp;17743 |
| Sichuan Changhong Electric Company, Ltd., Class A | 16600 | &nbsp;&nbsp;&nbsp;22538 |
| Sichuan Chuantou Energy Company, Ltd., Class A | &nbsp;&nbsp;9800 | &nbsp;&nbsp;&nbsp;21933 |
| Sichuan Kelun Pharmaceutical Company, Ltd., Class A | &nbsp;&nbsp;3100 | &nbsp;&nbsp;&nbsp;15545 |
| Sichuan Road and Bridge Group Company, Ltd., Class A | 14700 | &nbsp;&nbsp;&nbsp;20316 |
| Sieyuan Electric Company, Ltd., Class A | &nbsp;&nbsp;1600 | &nbsp;&nbsp;&nbsp;16283 |
| Silergy Corp. | 11000 | 133994 |
| Sinolink Securities Company, Ltd., Class A | &nbsp;&nbsp;7700 | &nbsp;&nbsp;&nbsp;&nbsp;9429 |
| Sinopharm Group Company, Ltd., H Shares | 46400 | 108922 |
| Sinotruk Hong Kong, Ltd. | 23500 | &nbsp;&nbsp;&nbsp;68646 |
| Smoore International Holdings, Ltd. (B) | 62000 | 144291 |
| SooChow Securities Company, Ltd., Class A | 10400 | &nbsp;&nbsp;&nbsp;12704 |
| Spring Airlines Company, Ltd., Class A | &nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;15539 |
| Sungrow Power Supply Company, Ltd., Class A | &nbsp;&nbsp;4200 | &nbsp;&nbsp;&nbsp;39746 |
| Sunny Optical Technology Group Company, Ltd. | 24400 | 216708 |
| SUPCON Technology Company, Ltd., Class A | &nbsp;&nbsp;1640 | &nbsp;&nbsp;&nbsp;10286 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 34 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### International Equity Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **China (continued)** |  |  |
| Suzhou Dongshan Precision Manufacturing Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;6200 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32676 |
| Suzhou TFC Optical Communication Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;1568 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17581 |
| TAL Education Group, ADR (A) | &nbsp;&nbsp;14900 | &nbsp;&nbsp;&nbsp;&nbsp;152278 |
| TBEA Company, Ltd., Class A | &nbsp;&nbsp;10200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16988 |
| TCL Technology Group Corp., Class A (A) | &nbsp;&nbsp;38980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23559 |
| TCL Zhonghuan Renewable Energy Technology Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;8250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8847 |
| Tencent Holdings, Ltd. | 229700 | 14800859 |
| Tencent Music Entertainment Group, ADR | &nbsp;&nbsp;26800 | &nbsp;&nbsp;&nbsp;&nbsp;522332 |
| The People's Insurance Company Group of China, Ltd., Class A | &nbsp;&nbsp;19200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23362 |
| The People's Insurance Company Group of China, Ltd., H Shares | 302000 | &nbsp;&nbsp;&nbsp;&nbsp;230517 |
| Tianqi Lithium Corp., Class A (A) | &nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13418 |
| Tingyi Cayman Islands Holding Corp. | &nbsp;&nbsp;76000 | &nbsp;&nbsp;&nbsp;&nbsp;111570 |
| Tongcheng Travel Holdings, Ltd. | &nbsp;&nbsp;41600 | &nbsp;&nbsp;&nbsp;&nbsp;104039 |
| TongFu Microelectronics Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;3100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11088 |
| Tongling Nonferrous Metals Group Company, Ltd., Class A | &nbsp;&nbsp;26300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12277 |
| Tongwei Company, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;9300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21751 |
| TravelSky Technology, Ltd., H Shares | &nbsp;&nbsp;31000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41551 |
| Trina Solar Company, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;4405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8937 |
| Tsingtao Brewery Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;1400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13577 |
| Tsingtao Brewery Company, Ltd., H Shares | &nbsp;&nbsp;22000 | &nbsp;&nbsp;&nbsp;&nbsp;143925 |
| Unigroup Guoxin Microelectronics Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;1679 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15447 |
| Unisplendour Corp., Ltd., Class A | &nbsp;&nbsp;&nbsp;5320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17828 |
| Verisilicon Microelectronics Shanghai Company, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;1072 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14446 |
| Victory Giant Technology Huizhou Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;2800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52684 |
| Vipshop Holdings, Ltd., ADR | &nbsp;&nbsp;13100 | &nbsp;&nbsp;&nbsp;&nbsp;197155 |
| Wanhua Chemical Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53034 |
| Weichai Power Company, Ltd., Class A | &nbsp;&nbsp;14100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30288 |
| Weichai Power Company, Ltd., H Shares | &nbsp;&nbsp;64720 | &nbsp;&nbsp;&nbsp;&nbsp;131771 |
| Wens Foodstuff Group Company, Ltd., Class A | &nbsp;&nbsp;14160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33769 |
| Western Mining Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;4900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11385 |
| Western Securities Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;9300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10236 |
| Will Semiconductor Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;2185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38973 |
| Wingtech Technology Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11724 |
| Wintime Energy Group Company, Ltd., Class A | &nbsp;&nbsp;46100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8622 |
| Wuhan Guide Infrared Company, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;8900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12737 |
| Wuliangye Yibin Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;8600 | &nbsp;&nbsp;&nbsp;&nbsp;142773 |
| WUS Printed Circuit Kunshan Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;4180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24895 |
| WuXi AppTec Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;5544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53850 |
| WuXi AppTec Company, Ltd., H Shares (B) | &nbsp;&nbsp;12106 | &nbsp;&nbsp;&nbsp;&nbsp;121791 |
| WuXi Biologics Cayman, Inc. (A)(B) | 124500 | &nbsp;&nbsp;&nbsp;&nbsp;409095 |
| XCMG Construction Machinery Company, Ltd., Class A | &nbsp;&nbsp;23900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25927 |
| Xiamen C & D, Inc., Class A | &nbsp;&nbsp;&nbsp;6200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8974 |
| Xiaomi Corp., Class B (A)(B) | 610400 | &nbsp;&nbsp;&nbsp;4698698 |
| Xinjiang Daqo New Energy Company, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;3610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10753 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **China (continued)** |  |  |
| Xinyi Solar Holdings, Ltd. | 172835 | $&nbsp;&nbsp;&nbsp;55019 |
| XPeng, Inc., A Shares (A) | &nbsp;&nbsp;43400 | 388501 |
| Yadea Group Holdings, Ltd. (B) | &nbsp;&nbsp;43978 | &nbsp;&nbsp;&nbsp;70566 |
| Yangzijiang Shipbuilding Holdings, Ltd. | &nbsp;&nbsp;90700 | 158281 |
| Yankuang Energy Group Company, Ltd., Class A | &nbsp;&nbsp;10140 | &nbsp;&nbsp;&nbsp;17227 |
| Yankuang Energy Group Company, Ltd., H Shares | 124680 | 124104 |
| Yantai Jereh Oilfield Services Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;2100 | &nbsp;&nbsp;&nbsp;10261 |
| Yealink Network Technology Corp., Ltd., Class A | &nbsp;&nbsp;&nbsp;2600 | &nbsp;&nbsp;&nbsp;12617 |
| Yifeng Pharmacy Chain Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;2520 | &nbsp;&nbsp;&nbsp;&nbsp;8613 |
| Yihai Kerry Arawana Holdings Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;2900 | &nbsp;&nbsp;&nbsp;11956 |
| Yonghui Superstores Company, Ltd., Class A (A) | &nbsp;&nbsp;33000 | &nbsp;&nbsp;&nbsp;22649 |
| Yonyou Network Technology Company, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;5200 | &nbsp;&nbsp;&nbsp;&nbsp;9705 |
| Youngor Fashion Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;9600 | &nbsp;&nbsp;&nbsp;&nbsp;9784 |
| YTO Express Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;12595 |
| Yum China Holdings, Inc. | &nbsp;&nbsp;13400 | 599114 |
| Yunnan Aluminium Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;7200 | &nbsp;&nbsp;&nbsp;16073 |
| Yunnan Baiyao Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;3920 | &nbsp;&nbsp;&nbsp;30530 |
| Yunnan Energy New Material Company, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;7364 |
| Yunnan Yuntianhua Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;3800 | &nbsp;&nbsp;&nbsp;11654 |
| Yutong Bus Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;15965 |
| Zangge Mining Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;3300 | &nbsp;&nbsp;&nbsp;19668 |
| Zhangzhou Pientzehuang Pharmaceutical Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;27918 |
| Zhaojin Mining Industry Company, Ltd., H Shares | &nbsp;&nbsp;65000 | 170858 |
| Zhejiang China Commodities City Group Company, Ltd., Class A | &nbsp;&nbsp;11400 | &nbsp;&nbsp;&nbsp;32933 |
| Zhejiang Chint Electrics Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;4800 | &nbsp;&nbsp;&nbsp;15195 |
| Zhejiang Dahua Technology Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;4800 | &nbsp;&nbsp;&nbsp;10643 |
| Zhejiang Expressway Company, Ltd., H Shares | &nbsp;&nbsp;68610 | &nbsp;&nbsp;&nbsp;63188 |
| Zhejiang Huayou Cobalt Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;3300 | &nbsp;&nbsp;&nbsp;17059 |
| Zhejiang Jingsheng Mechanical & Electrical Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;2600 | &nbsp;&nbsp;&nbsp;&nbsp;9858 |
| Zhejiang Juhua Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;5600 | &nbsp;&nbsp;&nbsp;22443 |
| Zhejiang Leapmotor Technology Company, Ltd. (A)(B) | &nbsp;&nbsp;17300 | 120860 |
| Zhejiang Longsheng Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;6800 | &nbsp;&nbsp;&nbsp;&nbsp;9643 |
| Zhejiang NHU Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;6912 | &nbsp;&nbsp;&nbsp;20522 |
| Zhejiang Sanhua Intelligent Controls Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;13269 |
| Zhejiang Supor Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;8776 |
| Zhejiang Wanfeng Auto Wheel Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;4500 | &nbsp;&nbsp;&nbsp;&nbsp;9987 |
| Zhejiang Weiming Environment Protection Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;3500 | &nbsp;&nbsp;&nbsp;&nbsp;9323 |
| Zhejiang Zheneng Electric Power Company, Ltd., Class A | &nbsp;&nbsp;22900 | &nbsp;&nbsp;&nbsp;16944 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 35 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### International Equity Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **China (continued)** |  |  |
| Zheshang Securities Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;8100 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12341 |
| Zhongji Innolight Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;2240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45880 |
| Zhongjin Gold Corp., Ltd., Class A | &nbsp;&nbsp;&nbsp;9800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20172 |
| Zhongsheng Group Holdings, Ltd. | &nbsp;&nbsp;28500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44081 |
| Zhongtai Securities Company, Ltd., Class A | &nbsp;&nbsp;14100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12660 |
| Zhuzhou CRRC Times Electric Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;1804 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10744 |
| Zhuzhou CRRC Times Electric Company, Ltd., H Shares | &nbsp;&nbsp;18000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72582 |
| Zijin Mining Group Company, Ltd., Class A | &nbsp;&nbsp;41700 | &nbsp;&nbsp;&nbsp;&nbsp;114092 |
| Zijin Mining Group Company, Ltd., H Shares | 203469 | &nbsp;&nbsp;&nbsp;&nbsp;523284 |
| Zoomlion Heavy Industry Science and Technology Company, Ltd., Class A | &nbsp;&nbsp;14300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14434 |
| ZTE Corp., Class A | &nbsp;&nbsp;&nbsp;7600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34535 |
| ZTE Corp., H Shares | &nbsp;&nbsp;25887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80494 |
| ZTO Express Cayman, Inc. | &nbsp;&nbsp;15400 | &nbsp;&nbsp;&nbsp;&nbsp;272659 |
|  |  | 81237618 |
| **Colombia - 0.0%** |  |  |
| Grupo Cibest SA, ADR | &nbsp;&nbsp;&nbsp;3847 | &nbsp;&nbsp;&nbsp;&nbsp;177693 |
| **Czech Republic - 0.0%** |  |  |
| CEZ AS | &nbsp;&nbsp;&nbsp;5755 | &nbsp;&nbsp;&nbsp;&nbsp;337990 |
| Komercni banka AS | &nbsp;&nbsp;&nbsp;2506 | &nbsp;&nbsp;&nbsp;&nbsp;121273 |
| Moneta Money Bank AS (B) | &nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62075 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;521338 |
| **Denmark - 1.4%** |  |  |
| A.P. Moller - Maersk A/S, Series A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99 | &nbsp;&nbsp;&nbsp;&nbsp;182651 |
| A.P. Moller - Maersk A/S, Series B | &nbsp;&nbsp;&nbsp;&nbsp;164 | &nbsp;&nbsp;&nbsp;&nbsp;304990 |
| Carlsberg A/S, Class B | &nbsp;&nbsp;&nbsp;3454 | &nbsp;&nbsp;&nbsp;&nbsp;489374 |
| Coloplast A/S, B Shares | &nbsp;&nbsp;&nbsp;4442 | &nbsp;&nbsp;&nbsp;&nbsp;422891 |
| Danske Bank A/S | &nbsp;&nbsp;24190 | &nbsp;&nbsp;&nbsp;&nbsp;988012 |
| Demant A/S (A) | &nbsp;&nbsp;&nbsp;3300 | &nbsp;&nbsp;&nbsp;&nbsp;137879 |
| DSV A/S | &nbsp;&nbsp;&nbsp;7227 | &nbsp;&nbsp;&nbsp;1733426 |
| Genmab A/S (A) | &nbsp;&nbsp;&nbsp;2266 | &nbsp;&nbsp;&nbsp;&nbsp;470577 |
| Novo Nordisk A/S, Class B | 113799 | &nbsp;&nbsp;&nbsp;7885589 |
| Novonesis A/S, B Shares | &nbsp;&nbsp;12367 | &nbsp;&nbsp;&nbsp;&nbsp;887912 |
| Orsted A/S (A)(B) | &nbsp;&nbsp;&nbsp;5901 | &nbsp;&nbsp;&nbsp;&nbsp;254207 |
| Pandora A/S | &nbsp;&nbsp;&nbsp;2888 | &nbsp;&nbsp;&nbsp;&nbsp;508852 |
| ROCKWOOL A/S, B Shares | &nbsp;&nbsp;&nbsp;3520 | &nbsp;&nbsp;&nbsp;&nbsp;164990 |
| Tryg A/S | &nbsp;&nbsp;11535 | &nbsp;&nbsp;&nbsp;&nbsp;298193 |
| Vestas Wind Systems A/S | &nbsp;&nbsp;35571 | &nbsp;&nbsp;&nbsp;&nbsp;534310 |
|  |  | 15263853 |
| **Egypt - 0.0%** |  |  |
| Commercial International Bank Egypt SAE | &nbsp;&nbsp;79768 | &nbsp;&nbsp;&nbsp;&nbsp;135568 |
| Eastern Company SAE | &nbsp;&nbsp;49043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29663 |
| Talaat Moustafa Group | &nbsp;&nbsp;32709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36634 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;201865 |
| **Finland - 0.7%** |  |  |
| Elisa OYJ | &nbsp;&nbsp;&nbsp;4868 | &nbsp;&nbsp;&nbsp;&nbsp;270571 |
| Fortum OYJ | &nbsp;&nbsp;16798 | &nbsp;&nbsp;&nbsp;&nbsp;314993 |
| Kesko OYJ, B Shares | &nbsp;&nbsp;&nbsp;9739 | &nbsp;&nbsp;&nbsp;&nbsp;240205 |
| Kone OYJ, B Shares | &nbsp;&nbsp;12120 | &nbsp;&nbsp;&nbsp;&nbsp;798477 |
| Metso OYJ | &nbsp;&nbsp;22595 | &nbsp;&nbsp;&nbsp;&nbsp;292828 |
| Neste OYJ | &nbsp;&nbsp;14709 | &nbsp;&nbsp;&nbsp;&nbsp;199339 |
| Nokia OYJ | 131593 | &nbsp;&nbsp;&nbsp;&nbsp;682789 |
| Nokia OYJ (Euronext Paris Exchange) | &nbsp;&nbsp;56247 | &nbsp;&nbsp;&nbsp;&nbsp;291454 |
| Nordea Bank ABP | &nbsp;&nbsp;&nbsp;3099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45982 |
| Nordea Bank ABP (Nasdaq Stockholm Exchange) | 108931 | &nbsp;&nbsp;&nbsp;1618281 |
| Orion OYJ, Class B | &nbsp;&nbsp;&nbsp;3780 | &nbsp;&nbsp;&nbsp;&nbsp;284383 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Finland (continued)** |  |  |
| Sampo OYJ, A Shares | 86409 | $&nbsp;&nbsp;&nbsp;&nbsp;929980 |
| Stora Enso OYJ, R Shares | 20482 | &nbsp;&nbsp;&nbsp;&nbsp;222672 |
| UPM-Kymmene OYJ | 18718 | &nbsp;&nbsp;&nbsp;&nbsp;511153 |
| Wartsila OYJ ABP | 17716 | &nbsp;&nbsp;&nbsp;&nbsp;418707 |
|  |  | 7121814 |
| **France - 6.8%** |  |  |
| Accor SA | &nbsp;&nbsp;6830 | &nbsp;&nbsp;&nbsp;&nbsp;357951 |
| Aeroports de Paris SA | &nbsp;&nbsp;1190 | &nbsp;&nbsp;&nbsp;&nbsp;149193 |
| Air Liquide SA | 20625 | 4252907 |
| Airbus SE | 21188 | 4432554 |
| Alstom SA (A) | 12620 | &nbsp;&nbsp;&nbsp;&nbsp;294563 |
| Amundi SA (B) | &nbsp;&nbsp;2060 | &nbsp;&nbsp;&nbsp;&nbsp;166975 |
| Arkema SA | &nbsp;&nbsp;2115 | &nbsp;&nbsp;&nbsp;&nbsp;156180 |
| AXA SA | 63180 | 3102463 |
| BioMerieux | &nbsp;&nbsp;1432 | &nbsp;&nbsp;&nbsp;&nbsp;198070 |
| BNP Paribas SA | 36290 | 3255282 |
| Bollore SE | 24915 | &nbsp;&nbsp;&nbsp;&nbsp;156601 |
| Bouygues SA | &nbsp;&nbsp;6976 | &nbsp;&nbsp;&nbsp;&nbsp;315488 |
| Bureau Veritas SA | 11003 | &nbsp;&nbsp;&nbsp;&nbsp;375559 |
| Capgemini SE | &nbsp;&nbsp;5804 | &nbsp;&nbsp;&nbsp;&nbsp;993859 |
| Carrefour SA | 19340 | &nbsp;&nbsp;&nbsp;&nbsp;272815 |
| Cie de Saint-Gobain SA | 16016 | 1881488 |
| Cie Generale des Etablissements Michelin SCA | 23832 | &nbsp;&nbsp;&nbsp;&nbsp;886415 |
| Covivio SA | &nbsp;&nbsp;1990 | &nbsp;&nbsp;&nbsp;&nbsp;126174 |
| Credit Agricole SA | 38090 | &nbsp;&nbsp;&nbsp;&nbsp;720599 |
| Danone SA | 22899 | 1873677 |
| Dassault Aviation SA | &nbsp;&nbsp;&nbsp;&nbsp;697 | &nbsp;&nbsp;&nbsp;&nbsp;246440 |
| Dassault Systemes SE | 23899 | &nbsp;&nbsp;&nbsp;&nbsp;866141 |
| Edenred SE | &nbsp;&nbsp;8717 | &nbsp;&nbsp;&nbsp;&nbsp;270755 |
| Eiffage SA | &nbsp;&nbsp;2589 | &nbsp;&nbsp;&nbsp;&nbsp;363790 |
| Engie SA | 65128 | 1530694 |
| EssilorLuxottica SA | 10790 | 2962862 |
| Eurazeo SE | &nbsp;&nbsp;1666 | &nbsp;&nbsp;&nbsp;&nbsp;119107 |
| FDJ UNITED (B) | &nbsp;&nbsp;3888 | &nbsp;&nbsp;&nbsp;&nbsp;152567 |
| Gecina SA | &nbsp;&nbsp;1546 | &nbsp;&nbsp;&nbsp;&nbsp;170191 |
| Getlink SE | 10201 | &nbsp;&nbsp;&nbsp;&nbsp;196921 |
| Hermes International SCA | &nbsp;&nbsp;1129 | 3060574 |
| Ipsen SA | &nbsp;&nbsp;1268 | &nbsp;&nbsp;&nbsp;&nbsp;151042 |
| Kering SA | &nbsp;&nbsp;2611 | &nbsp;&nbsp;&nbsp;&nbsp;568822 |
| Klepierre SA | &nbsp;&nbsp;8046 | &nbsp;&nbsp;&nbsp;&nbsp;318134 |
| Legrand SA | &nbsp;&nbsp;9260 | 1241107 |
| L'Oreal SA | &nbsp;&nbsp;8574 | 3672714 |
| LVMH Moet Hennessy Louis Vuitton SE | &nbsp;&nbsp;9809 | 5133848 |
| Orange SA | 66397 | 1011108 |
| Pernod Ricard SA | &nbsp;&nbsp;7172 | &nbsp;&nbsp;&nbsp;&nbsp;715419 |
| Publicis Groupe SA | &nbsp;&nbsp;8062 | &nbsp;&nbsp;&nbsp;&nbsp;910563 |
| Renault SA | &nbsp;&nbsp;6965 | &nbsp;&nbsp;&nbsp;&nbsp;321401 |
| Rexel SA | &nbsp;&nbsp;7770 | &nbsp;&nbsp;&nbsp;&nbsp;239648 |
| Safran SA | 12840 | 4187446 |
| Sanofi SA | 40046 | 3877013 |
| Sartorius Stedim Biotech | &nbsp;&nbsp;1029 | &nbsp;&nbsp;&nbsp;&nbsp;246202 |
| Schneider Electric SE | 18877 | 5068202 |
| Schneider Electric SE (Euronext London Exchange) | &nbsp;&nbsp;&nbsp;&nbsp;623 | &nbsp;&nbsp;&nbsp;&nbsp;166310 |
| Societe Generale SA | 25684 | 1469236 |
| Sodexo SA | &nbsp;&nbsp;3211 | &nbsp;&nbsp;&nbsp;&nbsp;197626 |
| Teleperformance SE | &nbsp;&nbsp;1842 | &nbsp;&nbsp;&nbsp;&nbsp;178909 |
| Thales SA | &nbsp;&nbsp;3332 | &nbsp;&nbsp;&nbsp;&nbsp;983857 |
| TotalEnergies SE | 76019 | 4646496 |
| Unibail-Rodamco-Westfield (A) | &nbsp;&nbsp;3997 | &nbsp;&nbsp;&nbsp;&nbsp;384223 |
| Unibail-Rodamco-Westfield, CHESS Depositary Interest (A) | &nbsp;&nbsp;7913 | &nbsp;&nbsp;&nbsp;&nbsp;37290 |
| Veolia Environnement SA | 25002 | &nbsp;&nbsp;&nbsp;&nbsp;892621 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 36 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### International Equity Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **France (continued)** |  |  |
| Vinci SA | &nbsp;&nbsp;17653 | $&nbsp;&nbsp;&nbsp;2603301 |
|  |  | 73131393 |
| **Germany - 6.3%** |  |  |
| adidas AG | &nbsp;&nbsp;&nbsp;6053 | &nbsp;&nbsp;&nbsp;1412955 |
| Allianz SE | &nbsp;&nbsp;13770 | &nbsp;&nbsp;&nbsp;5588339 |
| BASF SE | &nbsp;&nbsp;31826 | &nbsp;&nbsp;&nbsp;1574102 |
| Bayer AG | &nbsp;&nbsp;35031 | &nbsp;&nbsp;&nbsp;1055392 |
| Bayerische Motoren Werke AG | &nbsp;&nbsp;10337 | &nbsp;&nbsp;&nbsp;&nbsp;920609 |
| Beiersdorf AG | &nbsp;&nbsp;&nbsp;3535 | &nbsp;&nbsp;&nbsp;&nbsp;444343 |
| Brenntag SE | &nbsp;&nbsp;&nbsp;4572 | &nbsp;&nbsp;&nbsp;&nbsp;302895 |
| Commerzbank AG | &nbsp;&nbsp;33262 | &nbsp;&nbsp;&nbsp;1048189 |
| Continental AG | &nbsp;&nbsp;&nbsp;4004 | &nbsp;&nbsp;&nbsp;&nbsp;349461 |
| Covestro AG (A) | &nbsp;&nbsp;&nbsp;6482 | &nbsp;&nbsp;&nbsp;&nbsp;461254 |
| CTS Eventim AG & Company KGaA | &nbsp;&nbsp;&nbsp;2198 | &nbsp;&nbsp;&nbsp;&nbsp;273323 |
| Daimler Truck Holding AG | &nbsp;&nbsp;17301 | &nbsp;&nbsp;&nbsp;&nbsp;820830 |
| Delivery Hero SE (A)(B) | &nbsp;&nbsp;&nbsp;6759 | &nbsp;&nbsp;&nbsp;&nbsp;183455 |
| Deutsche Bank AG | &nbsp;&nbsp;65997 | &nbsp;&nbsp;&nbsp;1956514 |
| Deutsche Boerse AG | &nbsp;&nbsp;&nbsp;6714 | &nbsp;&nbsp;&nbsp;2193399 |
| Deutsche Lufthansa AG | &nbsp;&nbsp;20091 | &nbsp;&nbsp;&nbsp;&nbsp;170566 |
| Deutsche Telekom AG | 124465 | &nbsp;&nbsp;&nbsp;4555878 |
| DHL Group | &nbsp;&nbsp;33971 | &nbsp;&nbsp;&nbsp;1573536 |
| E.ON SE | &nbsp;&nbsp;80057 | &nbsp;&nbsp;&nbsp;1475104 |
| Evonik Industries AG | &nbsp;&nbsp;&nbsp;9028 | &nbsp;&nbsp;&nbsp;&nbsp;186506 |
| Fresenius Medical Care AG | &nbsp;&nbsp;&nbsp;7738 | &nbsp;&nbsp;&nbsp;&nbsp;444589 |
| Fresenius SE & Company KGaA | &nbsp;&nbsp;15063 | &nbsp;&nbsp;&nbsp;&nbsp;758014 |
| GEA Group AG | &nbsp;&nbsp;&nbsp;5625 | &nbsp;&nbsp;&nbsp;&nbsp;394314 |
| Hannover Rueck SE | &nbsp;&nbsp;&nbsp;2124 | &nbsp;&nbsp;&nbsp;&nbsp;669303 |
| Heidelberg Materials AG | &nbsp;&nbsp;&nbsp;4810 | &nbsp;&nbsp;&nbsp;1132742 |
| Henkel AG & Company KGaA | &nbsp;&nbsp;&nbsp;3543 | &nbsp;&nbsp;&nbsp;&nbsp;256958 |
| Infineon Technologies AG | &nbsp;&nbsp;46567 | &nbsp;&nbsp;&nbsp;1987113 |
| Knorr-Bremse AG | &nbsp;&nbsp;&nbsp;2587 | &nbsp;&nbsp;&nbsp;&nbsp;250932 |
| LEG Immobilien SE | &nbsp;&nbsp;&nbsp;2553 | &nbsp;&nbsp;&nbsp;&nbsp;227247 |
| Mercedes-Benz Group AG | &nbsp;&nbsp;25751 | &nbsp;&nbsp;&nbsp;1500262 |
| Merck KGaA | &nbsp;&nbsp;&nbsp;4533 | &nbsp;&nbsp;&nbsp;&nbsp;587743 |
| MTU Aero Engines AG | &nbsp;&nbsp;&nbsp;1919 | &nbsp;&nbsp;&nbsp;&nbsp;852525 |
| Muenchener Rueckversicherungs-Gesellschaft AG | &nbsp;&nbsp;&nbsp;4770 | &nbsp;&nbsp;&nbsp;3097333 |
| Nemetschek SE | &nbsp;&nbsp;&nbsp;2010 | &nbsp;&nbsp;&nbsp;&nbsp;291436 |
| Rational AG | &nbsp;&nbsp;&nbsp;&nbsp;172 | &nbsp;&nbsp;&nbsp;&nbsp;144532 |
| Rheinmetall AG | &nbsp;&nbsp;&nbsp;1594 | &nbsp;&nbsp;&nbsp;3375619 |
| RWE AG | &nbsp;&nbsp;22545 | &nbsp;&nbsp;&nbsp;&nbsp;942117 |
| SAP SE | &nbsp;&nbsp;37235 | 11385730 |
| Scout24 SE (B) | &nbsp;&nbsp;&nbsp;2729 | &nbsp;&nbsp;&nbsp;&nbsp;376736 |
| Siemens AG | &nbsp;&nbsp;27100 | &nbsp;&nbsp;&nbsp;6960877 |
| Siemens Energy AG (A) | &nbsp;&nbsp;24227 | &nbsp;&nbsp;&nbsp;2831681 |
| Siemens Healthineers AG (B) | &nbsp;&nbsp;11899 | &nbsp;&nbsp;&nbsp;&nbsp;660567 |
| Symrise AG | &nbsp;&nbsp;&nbsp;4743 | &nbsp;&nbsp;&nbsp;&nbsp;497373 |
| Talanx AG | &nbsp;&nbsp;&nbsp;2354 | &nbsp;&nbsp;&nbsp;&nbsp;305177 |
| Vonovia SE | &nbsp;&nbsp;26430 | &nbsp;&nbsp;&nbsp;&nbsp;937035 |
| Zalando SE (A)(B) | &nbsp;&nbsp;&nbsp;7664 | &nbsp;&nbsp;&nbsp;&nbsp;252892 |
|  |  | 67667497 |
| **Greece - 0.2%** |  |  |
| Alpha Bank SA | &nbsp;&nbsp;82858 | &nbsp;&nbsp;&nbsp;&nbsp;291833 |
| Eurobank Ergasias Services and Holdings SA | &nbsp;&nbsp;91237 | &nbsp;&nbsp;&nbsp;&nbsp;314247 |
| FF Group (A)(E) | &nbsp;&nbsp;&nbsp;1869 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Hellenic Telecommunications Organization SA | &nbsp;&nbsp;&nbsp;5794 | &nbsp;&nbsp;&nbsp;&nbsp;110174 |
| JUMBO SA | &nbsp;&nbsp;&nbsp;3913 | &nbsp;&nbsp;&nbsp;&nbsp;135326 |
| Metlen Energy & Metals SA | &nbsp;&nbsp;&nbsp;3775 | &nbsp;&nbsp;&nbsp;&nbsp;204644 |
| National Bank of Greece SA | &nbsp;&nbsp;31216 | &nbsp;&nbsp;&nbsp;&nbsp;398028 |
| OPAP SA | &nbsp;&nbsp;&nbsp;7073 | &nbsp;&nbsp;&nbsp;&nbsp;160386 |
| Piraeus Financial Holdings SA | &nbsp;&nbsp;36819 | &nbsp;&nbsp;&nbsp;&nbsp;255075 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Greece (continued)** |  |  |
| Public Power Corp. SA | &nbsp;&nbsp;&nbsp;6989 | $&nbsp;&nbsp;&nbsp;&nbsp;114218 |
|  |  | 1983931 |
| **Hong Kong - 1.7%** |  |  |
| AIA Group, Ltd. | 382200 | 3462135 |
| Alibaba Health Information Technology, Ltd. (A) | 194000 | &nbsp;&nbsp;&nbsp;&nbsp;117742 |
| Beijing Enterprises Holdings, Ltd. | &nbsp;&nbsp;19786 | &nbsp;&nbsp;&nbsp;&nbsp;81582 |
| Beijing Enterprises Water Group, Ltd. | 126000 | &nbsp;&nbsp;&nbsp;&nbsp;38052 |
| BOC Hong Kong Holdings, Ltd. | 132328 | &nbsp;&nbsp;&nbsp;&nbsp;576056 |
| Bosideng International Holdings, Ltd. | 182000 | &nbsp;&nbsp;&nbsp;&nbsp;107866 |
| C&D International Investment Group, Ltd. | &nbsp;&nbsp;27256 | &nbsp;&nbsp;&nbsp;&nbsp;55386 |
| China Common Rich Renewable Energy Investments, Ltd. (A)(E) | 428695 | &nbsp;&nbsp;&nbsp;&nbsp;11741 |
| China Gas Holdings, Ltd. | 106663 | &nbsp;&nbsp;&nbsp;&nbsp;99761 |
| China Merchants Port Holdings Company, Ltd. | &nbsp;&nbsp;52898 | &nbsp;&nbsp;&nbsp;&nbsp;96420 |
| China Overseas Land & Investment, Ltd. | 131382 | &nbsp;&nbsp;&nbsp;&nbsp;229024 |
| China Power International Development, Ltd. | 185000 | &nbsp;&nbsp;&nbsp;&nbsp;70511 |
| China Resources Beer Holdings Company, Ltd. | &nbsp;&nbsp;55979 | &nbsp;&nbsp;&nbsp;&nbsp;179064 |
| China Resources Gas Group, Ltd. | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;76799 |
| China Resources Land, Ltd. | 110964 | &nbsp;&nbsp;&nbsp;&nbsp;377809 |
| China Resources Power Holdings Company, Ltd. | &nbsp;&nbsp;76244 | &nbsp;&nbsp;&nbsp;&nbsp;184223 |
| China Ruyi Holdings, Ltd. (A) | 304000 | &nbsp;&nbsp;&nbsp;&nbsp;98040 |
| China State Construction International Holdings, Ltd. | &nbsp;&nbsp;71250 | &nbsp;&nbsp;&nbsp;&nbsp;107539 |
| China Taiping Insurance Holdings Company, Ltd. | &nbsp;&nbsp;60500 | &nbsp;&nbsp;&nbsp;&nbsp;118402 |
| Chow Tai Fook Jewellery Group, Ltd. | &nbsp;&nbsp;80800 | &nbsp;&nbsp;&nbsp;&nbsp;138545 |
| CK Asset Holdings, Ltd. | &nbsp;&nbsp;68546 | &nbsp;&nbsp;&nbsp;&nbsp;302893 |
| CK Hutchison Holdings, Ltd. | &nbsp;&nbsp;94163 | &nbsp;&nbsp;&nbsp;&nbsp;579826 |
| CK Infrastructure Holdings, Ltd. | &nbsp;&nbsp;21272 | &nbsp;&nbsp;&nbsp;&nbsp;140869 |
| CLP Holdings, Ltd. | &nbsp;&nbsp;58900 | &nbsp;&nbsp;&nbsp;&nbsp;497455 |
| Far East Horizon, Ltd. | &nbsp;&nbsp;66000 | &nbsp;&nbsp;&nbsp;&nbsp;57367 |
| Futu Holdings, Ltd., ADR | &nbsp;&nbsp;&nbsp;2200 | &nbsp;&nbsp;&nbsp;&nbsp;271898 |
| Galaxy Entertainment Group, Ltd. | &nbsp;&nbsp;77000 | &nbsp;&nbsp;&nbsp;&nbsp;343235 |
| GCL Technology Holdings, Ltd. (A) | 759000 | &nbsp;&nbsp;&nbsp;&nbsp;96944 |
| Geely Automobile Holdings, Ltd. | 217000 | &nbsp;&nbsp;&nbsp;&nbsp;442941 |
| Guangdong Investment, Ltd. | &nbsp;&nbsp;99220 | &nbsp;&nbsp;&nbsp;&nbsp;83140 |
| Hang Seng Bank, Ltd. | &nbsp;&nbsp;27319 | &nbsp;&nbsp;&nbsp;&nbsp;409954 |
| Henderson Land Development Company, Ltd. | &nbsp;&nbsp;55324 | &nbsp;&nbsp;&nbsp;&nbsp;194298 |
| HKT Trust & HKT, Ltd. | 145233 | &nbsp;&nbsp;&nbsp;&nbsp;217134 |
| Hong Kong & China Gas Company, Ltd. | 404091 | &nbsp;&nbsp;&nbsp;&nbsp;339756 |
| Hong Kong Exchanges & Clearing, Ltd. | &nbsp;&nbsp;42714 | 2297438 |
| Hongkong Land Holdings, Ltd. | &nbsp;&nbsp;37200 | &nbsp;&nbsp;&nbsp;&nbsp;214765 |
| Jardine Matheson Holdings, Ltd. | &nbsp;&nbsp;&nbsp;5900 | &nbsp;&nbsp;&nbsp;&nbsp;283570 |
| Kunlun Energy Company, Ltd. | 134000 | &nbsp;&nbsp;&nbsp;&nbsp;130247 |
| Link REIT | &nbsp;&nbsp;90646 | &nbsp;&nbsp;&nbsp;&nbsp;485545 |
| MTR Corp., Ltd. | &nbsp;&nbsp;59022 | &nbsp;&nbsp;&nbsp;&nbsp;212237 |
| Orient Overseas International, Ltd. | &nbsp;&nbsp;&nbsp;4500 | &nbsp;&nbsp;&nbsp;&nbsp;76585 |
| Power Assets Holdings, Ltd. | &nbsp;&nbsp;49582 | &nbsp;&nbsp;&nbsp;&nbsp;318791 |
| Prudential PLC | &nbsp;&nbsp;92854 | 1162180 |
| Sino Biopharmaceutical, Ltd. | 346500 | &nbsp;&nbsp;&nbsp;&nbsp;233105 |
| Sino Land Company, Ltd. | 138789 | &nbsp;&nbsp;&nbsp;&nbsp;147829 |
| SITC International Holdings Company, Ltd. | &nbsp;&nbsp;52000 | &nbsp;&nbsp;&nbsp;&nbsp;166712 |
| Sun Hung Kai Properties, Ltd. | &nbsp;&nbsp;51130 | &nbsp;&nbsp;&nbsp;&nbsp;589173 |
| Swire Pacific, Ltd., Class A | &nbsp;&nbsp;14663 | &nbsp;&nbsp;&nbsp;&nbsp;125693 |
| Techtronic Industries Company, Ltd. | &nbsp;&nbsp;51500 | &nbsp;&nbsp;&nbsp;&nbsp;568249 |
| The Wharf Holdings, Ltd. | &nbsp;&nbsp;37000 | &nbsp;&nbsp;&nbsp;&nbsp;112808 |
| Want Want China Holdings, Ltd. | 163000 | &nbsp;&nbsp;&nbsp;&nbsp;114003 |
| WH Group, Ltd. (B) | 297343 | &nbsp;&nbsp;&nbsp;&nbsp;286577 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 37 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### International Equity Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Hong Kong (continued)** |  |  |
| Wharf Real Estate Investment Company, Ltd. | &nbsp;&nbsp;62876 | $&nbsp;&nbsp;&nbsp;&nbsp;178479 |
|  |  | 17908393 |
| **Hungary - 0.1%** |  |  |
| MOL Hungarian Oil & Gas PLC | &nbsp;&nbsp;15526 | &nbsp;&nbsp;&nbsp;&nbsp;135259 |
| OTP Bank NYRT | &nbsp;&nbsp;&nbsp;8008 | &nbsp;&nbsp;&nbsp;&nbsp;640080 |
| Richter Gedeon NYRT | &nbsp;&nbsp;&nbsp;4794 | &nbsp;&nbsp;&nbsp;&nbsp;141486 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;916825 |
| **India - 5.2%** |  |  |
| ABB India, Ltd. | &nbsp;&nbsp;&nbsp;1809 | &nbsp;&nbsp;&nbsp;&nbsp;128413 |
| Adani Enterprises, Ltd. | &nbsp;&nbsp;&nbsp;5762 | &nbsp;&nbsp;&nbsp;&nbsp;176437 |
| Adani Ports & Special Economic Zone, Ltd. | &nbsp;&nbsp;19257 | &nbsp;&nbsp;&nbsp;&nbsp;324341 |
| Adani Power, Ltd. (A) | &nbsp;&nbsp;20305 | &nbsp;&nbsp;&nbsp;&nbsp;138481 |
| Alkem Laboratories, Ltd. | &nbsp;&nbsp;&nbsp;1469 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84613 |
| Ambuja Cements, Ltd. | &nbsp;&nbsp;21958 | &nbsp;&nbsp;&nbsp;&nbsp;147858 |
| APL Apollo Tubes, Ltd. | &nbsp;&nbsp;&nbsp;6432 | &nbsp;&nbsp;&nbsp;&nbsp;130369 |
| Apollo Hospitals Enterprise, Ltd. | &nbsp;&nbsp;&nbsp;3469 | &nbsp;&nbsp;&nbsp;&nbsp;292890 |
| Ashok Leyland, Ltd. | &nbsp;&nbsp;49576 | &nbsp;&nbsp;&nbsp;&nbsp;144304 |
| Asian Paints, Ltd. | &nbsp;&nbsp;13278 | &nbsp;&nbsp;&nbsp;&nbsp;362735 |
| Astral, Ltd. | &nbsp;&nbsp;&nbsp;4648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81686 |
| AU Small Finance Bank, Ltd. (B) | &nbsp;&nbsp;12818 | &nbsp;&nbsp;&nbsp;&nbsp;122574 |
| Aurobindo Pharma, Ltd. (A) | &nbsp;&nbsp;&nbsp;9153 | &nbsp;&nbsp;&nbsp;&nbsp;120938 |
| Avenue Supermarts, Ltd. (A)(B) | &nbsp;&nbsp;&nbsp;5630 | &nbsp;&nbsp;&nbsp;&nbsp;286787 |
| Axis Bank, Ltd. | &nbsp;&nbsp;81732 | &nbsp;&nbsp;&nbsp;1142917 |
| Bajaj Auto, Ltd. | &nbsp;&nbsp;&nbsp;2390 | &nbsp;&nbsp;&nbsp;&nbsp;233277 |
| Bajaj Finance, Ltd. | &nbsp;&nbsp;99470 | &nbsp;&nbsp;&nbsp;1086927 |
| Bajaj Finserv, Ltd. | &nbsp;&nbsp;13664 | &nbsp;&nbsp;&nbsp;&nbsp;327434 |
| Bajaj Holdings & Investment, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;912 | &nbsp;&nbsp;&nbsp;&nbsp;152188 |
| Balkrishna Industries, Ltd. | &nbsp;&nbsp;&nbsp;2611 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74315 |
| Bank of Baroda | &nbsp;&nbsp;35251 | &nbsp;&nbsp;&nbsp;&nbsp;102171 |
| Bharat Electronics, Ltd. | 130326 | &nbsp;&nbsp;&nbsp;&nbsp;642912 |
| Bharat Forge, Ltd. | &nbsp;&nbsp;&nbsp;8648 | &nbsp;&nbsp;&nbsp;&nbsp;131908 |
| Bharat Heavy Electricals, Ltd. | &nbsp;&nbsp;35988 | &nbsp;&nbsp;&nbsp;&nbsp;111863 |
| Bharat Petroleum Corp., Ltd. | &nbsp;&nbsp;51282 | &nbsp;&nbsp;&nbsp;&nbsp;198312 |
| Bharti Airtel, Ltd. | &nbsp;&nbsp;91497 | &nbsp;&nbsp;&nbsp;2144101 |
| Bosch, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98887 |
| Britannia Industries, Ltd. | &nbsp;&nbsp;&nbsp;3751 | &nbsp;&nbsp;&nbsp;&nbsp;254782 |
| BSE, Ltd. | &nbsp;&nbsp;&nbsp;6984 | &nbsp;&nbsp;&nbsp;&nbsp;226262 |
| Canara Bank | &nbsp;&nbsp;63900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85028 |
| CG Power & Industrial Solutions, Ltd. | &nbsp;&nbsp;20819 | &nbsp;&nbsp;&nbsp;&nbsp;165400 |
| Cholamandalam Investment and Finance Company, Ltd. | &nbsp;&nbsp;14529 | &nbsp;&nbsp;&nbsp;&nbsp;276033 |
| Cipla, Ltd. | &nbsp;&nbsp;19879 | &nbsp;&nbsp;&nbsp;&nbsp;348573 |
| Coal India, Ltd. | &nbsp;&nbsp;64781 | &nbsp;&nbsp;&nbsp;&nbsp;296195 |
| Colgate-Palmolive India, Ltd. | &nbsp;&nbsp;&nbsp;4685 | &nbsp;&nbsp;&nbsp;&nbsp;131740 |
| Container Corp. of India, Ltd. | &nbsp;&nbsp;&nbsp;9153 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81218 |
| Coromandel International, Ltd. | &nbsp;&nbsp;&nbsp;4202 | &nbsp;&nbsp;&nbsp;&nbsp;122365 |
| Cummins India, Ltd. | &nbsp;&nbsp;&nbsp;4680 | &nbsp;&nbsp;&nbsp;&nbsp;185590 |
| Dabur India, Ltd. | &nbsp;&nbsp;21327 | &nbsp;&nbsp;&nbsp;&nbsp;120620 |
| Divi's Laboratories, Ltd. | &nbsp;&nbsp;&nbsp;4260 | &nbsp;&nbsp;&nbsp;&nbsp;339371 |
| Dixon Technologies India, Ltd. | &nbsp;&nbsp;&nbsp;1289 | &nbsp;&nbsp;&nbsp;&nbsp;225409 |
| DLF, Ltd. | &nbsp;&nbsp;25583 | &nbsp;&nbsp;&nbsp;&nbsp;250157 |
| Dr. Reddy's Laboratories, Ltd. | &nbsp;&nbsp;&nbsp;1570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23576 |
| Dr. Reddy's Laboratories, Ltd., ADR | &nbsp;&nbsp;18540 | &nbsp;&nbsp;&nbsp;&nbsp;278656 |
| Eicher Motors, Ltd. | &nbsp;&nbsp;&nbsp;4712 | &nbsp;&nbsp;&nbsp;&nbsp;309963 |
| Eternal, Ltd. (A) | 258085 | &nbsp;&nbsp;&nbsp;&nbsp;794247 |
| FSN E-Commerce Ventures, Ltd. (A) | &nbsp;&nbsp;40782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98958 |
| GAIL India, Ltd. | &nbsp;&nbsp;&nbsp;3491 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7766 |
| GAIL India, Ltd., GDR | &nbsp;&nbsp;12953 | &nbsp;&nbsp;&nbsp;&nbsp;172600 |
| GMR Airports, Ltd. (A) | &nbsp;&nbsp;83177 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82786 |
| Godrej Consumer Products, Ltd. | &nbsp;&nbsp;14095 | &nbsp;&nbsp;&nbsp;&nbsp;193405 |
| Godrej Properties, Ltd. (A) | &nbsp;&nbsp;&nbsp;5627 | &nbsp;&nbsp;&nbsp;&nbsp;153594 |
| Grasim Industries, Ltd. | &nbsp;&nbsp;&nbsp;9706 | &nbsp;&nbsp;&nbsp;&nbsp;321607 |
| Havells India, Ltd. | &nbsp;&nbsp;&nbsp;8636 | &nbsp;&nbsp;&nbsp;&nbsp;156374 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **India (continued)** |  |  |
| HCL Technologies, Ltd. | &nbsp;&nbsp;33867 | $&nbsp;&nbsp;&nbsp;&nbsp;684169 |
| HDFC Asset Management Company, Ltd. (B) | &nbsp;&nbsp;&nbsp;3310 | &nbsp;&nbsp;&nbsp;&nbsp;200557 |
| HDFC Bank, Ltd. | 201919 | 4710359 |
| HDFC Life Insurance Company, Ltd. (B) | &nbsp;&nbsp;33493 | &nbsp;&nbsp;&nbsp;&nbsp;317237 |
| Hero MotoCorp, Ltd. | &nbsp;&nbsp;&nbsp;4132 | &nbsp;&nbsp;&nbsp;&nbsp;204078 |
| Hindalco Industries, Ltd. | &nbsp;&nbsp;48079 | &nbsp;&nbsp;&nbsp;&nbsp;388980 |
| Hindustan Aeronautics, Ltd. | &nbsp;&nbsp;&nbsp;7067 | &nbsp;&nbsp;&nbsp;&nbsp;402095 |
| Hindustan Petroleum Corp., Ltd. | &nbsp;&nbsp;34143 | &nbsp;&nbsp;&nbsp;&nbsp;174141 |
| Hindustan Unilever, Ltd. | &nbsp;&nbsp;28966 | &nbsp;&nbsp;&nbsp;&nbsp;775703 |
| Hyundai Motor India, Ltd. (A) | &nbsp;&nbsp;&nbsp;5657 | &nbsp;&nbsp;&nbsp;&nbsp;146196 |
| ICICI Bank, Ltd. | 103117 | 1746508 |
| ICICI Bank, Ltd., ADR | &nbsp;&nbsp;42418 | 1426942 |
| ICICI Lombard General Insurance Company, Ltd. (B) | &nbsp;&nbsp;&nbsp;8129 | &nbsp;&nbsp;&nbsp;&nbsp;193562 |
| ICICI Prudential Life Insurance Company, Ltd. (B) | &nbsp;&nbsp;11948 | &nbsp;&nbsp;&nbsp;&nbsp;91471 |
| IDFC First Bank, Ltd. (A) | 119836 | &nbsp;&nbsp;&nbsp;&nbsp;101693 |
| Indian Oil Corp., Ltd. | &nbsp;&nbsp;97345 | &nbsp;&nbsp;&nbsp;&nbsp;166922 |
| Indian Railway Catering & Tourism Corp., Ltd. | &nbsp;&nbsp;&nbsp;7983 | &nbsp;&nbsp;&nbsp;&nbsp;72806 |
| Indus Towers, Ltd. (A) | &nbsp;&nbsp;47036 | &nbsp;&nbsp;&nbsp;&nbsp;231466 |
| IndusInd Bank, Ltd. (A) | &nbsp;&nbsp;20069 | &nbsp;&nbsp;&nbsp;&nbsp;204313 |
| Info Edge India, Ltd. | &nbsp;&nbsp;12707 | &nbsp;&nbsp;&nbsp;&nbsp;219828 |
| Infosys, Ltd. | &nbsp;&nbsp;&nbsp;4319 | &nbsp;&nbsp;&nbsp;&nbsp;80771 |
| Infosys, Ltd., ADR (D) | 114159 | 2115366 |
| InterGlobe Aviation, Ltd. (A)(B) | &nbsp;&nbsp;&nbsp;6756 | &nbsp;&nbsp;&nbsp;&nbsp;470048 |
| ITC, Ltd. | 107095 | &nbsp;&nbsp;&nbsp;&nbsp;519915 |
| Jindal Stainless, Ltd. | &nbsp;&nbsp;11602 | &nbsp;&nbsp;&nbsp;&nbsp;95848 |
| Jindal Steel & Power, Ltd. | &nbsp;&nbsp;15135 | &nbsp;&nbsp;&nbsp;&nbsp;165921 |
| Jio Financial Services, Ltd. (A) | 102813 | &nbsp;&nbsp;&nbsp;&nbsp;392962 |
| JSW Energy, Ltd. | &nbsp;&nbsp;15581 | &nbsp;&nbsp;&nbsp;&nbsp;94987 |
| JSW Steel, Ltd. | &nbsp;&nbsp;21158 | &nbsp;&nbsp;&nbsp;&nbsp;251533 |
| Jubilant Foodworks, Ltd. | &nbsp;&nbsp;13701 | &nbsp;&nbsp;&nbsp;&nbsp;112442 |
| Kalyan Jewellers India, Ltd. | &nbsp;&nbsp;14477 | &nbsp;&nbsp;&nbsp;&nbsp;93759 |
| Kotak Mahindra Bank, Ltd. | &nbsp;&nbsp;38512 | &nbsp;&nbsp;&nbsp;&nbsp;970049 |
| Larsen & Toubro, Ltd. | &nbsp;&nbsp;24028 | 1028763 |
| LTIMindtree, Ltd. (B) | &nbsp;&nbsp;&nbsp;2498 | &nbsp;&nbsp;&nbsp;&nbsp;154781 |
| Lupin, Ltd. | &nbsp;&nbsp;&nbsp;7879 | &nbsp;&nbsp;&nbsp;&nbsp;177909 |
| Macrotech Developers, Ltd. (B) | &nbsp;&nbsp;10508 | &nbsp;&nbsp;&nbsp;&nbsp;169988 |
| Mahindra & Mahindra, Ltd. | &nbsp;&nbsp;&nbsp;3736 | &nbsp;&nbsp;&nbsp;&nbsp;138478 |
| Mahindra & Mahindra, Ltd., GDR | &nbsp;&nbsp;29450 | 1076773 |
| Mankind Pharma, Ltd. (A) | &nbsp;&nbsp;&nbsp;4645 | &nbsp;&nbsp;&nbsp;&nbsp;125983 |
| Marico, Ltd. | &nbsp;&nbsp;17795 | &nbsp;&nbsp;&nbsp;&nbsp;149834 |
| Maruti Suzuki India, Ltd. | &nbsp;&nbsp;&nbsp;4407 | &nbsp;&nbsp;&nbsp;&nbsp;637788 |
| Max Healthcare Institute, Ltd. | &nbsp;&nbsp;26906 | &nbsp;&nbsp;&nbsp;&nbsp;400048 |
| Mphasis, Ltd. | &nbsp;&nbsp;&nbsp;3967 | &nbsp;&nbsp;&nbsp;&nbsp;131918 |
| MRF, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp;&nbsp;&nbsp;132487 |
| Muthoot Finance, Ltd. | &nbsp;&nbsp;&nbsp;4018 | &nbsp;&nbsp;&nbsp;&nbsp;123185 |
| Nestle India, Ltd. | &nbsp;&nbsp;11678 | &nbsp;&nbsp;&nbsp;&nbsp;335307 |
| NHPC, Ltd. | 106146 | &nbsp;&nbsp;&nbsp;&nbsp;106202 |
| NMDC, Ltd. | 106008 | &nbsp;&nbsp;&nbsp;&nbsp;86565 |
| NTPC, Ltd. | 153697 | &nbsp;&nbsp;&nbsp;&nbsp;599997 |
| Oberoi Realty, Ltd. | &nbsp;&nbsp;&nbsp;4466 | &nbsp;&nbsp;&nbsp;&nbsp;99829 |
| Oil & Natural Gas Corp., Ltd. | 110780 | &nbsp;&nbsp;&nbsp;&nbsp;315245 |
| Oil India, Ltd. | &nbsp;&nbsp;17099 | &nbsp;&nbsp;&nbsp;&nbsp;86738 |
| Oracle Financial Services Software, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;760 | &nbsp;&nbsp;&nbsp;&nbsp;79599 |
| Page Industries, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;212 | &nbsp;&nbsp;&nbsp;&nbsp;121766 |
| PB Fintech, Ltd. (A) | &nbsp;&nbsp;12509 | &nbsp;&nbsp;&nbsp;&nbsp;265039 |
| Persistent Systems, Ltd. | &nbsp;&nbsp;&nbsp;3957 | &nbsp;&nbsp;&nbsp;&nbsp;279300 |
| Petronet LNG, Ltd. | &nbsp;&nbsp;25955 | &nbsp;&nbsp;&nbsp;&nbsp;91512 |
| PI Industries, Ltd. | &nbsp;&nbsp;&nbsp;2778 | &nbsp;&nbsp;&nbsp;&nbsp;133171 |
| Pidilite Industries, Ltd. | &nbsp;&nbsp;&nbsp;5254 | &nbsp;&nbsp;&nbsp;&nbsp;186796 |
| Polycab India, Ltd. | &nbsp;&nbsp;&nbsp;1852 | &nbsp;&nbsp;&nbsp;&nbsp;141379 |
| Power Finance Corp., Ltd. | &nbsp;&nbsp;51161 | &nbsp;&nbsp;&nbsp;&nbsp;255129 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 38 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### International Equity Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **India (continued)** |  |  |
| Power Grid Corp. of India, Ltd. | &nbsp;&nbsp;163799 | $&nbsp;&nbsp;&nbsp;&nbsp;571070 |
| Prestige Estates Projects, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;6144 | &nbsp;&nbsp;&nbsp;&nbsp;119046 |
| Punjab National Bank | &nbsp;&nbsp;&nbsp;&nbsp;75867 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97723 |
| Rail Vikas Nigam, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;18264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84909 |
| REC, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;45358 | &nbsp;&nbsp;&nbsp;&nbsp;213223 |
| Reliance Industries, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;47488 | &nbsp;&nbsp;&nbsp;&nbsp;830805 |
| Reliance Industries, Ltd., GDR (B) | &nbsp;&nbsp;&nbsp;&nbsp;40805 | &nbsp;&nbsp;&nbsp;2845412 |
| Samvardhana Motherson International, Ltd. | &nbsp;&nbsp;116503 | &nbsp;&nbsp;&nbsp;&nbsp;210344 |
| SBI Cards & Payment Services, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;9870 | &nbsp;&nbsp;&nbsp;&nbsp;109131 |
| SBI Life Insurance Company, Ltd. (B) | &nbsp;&nbsp;&nbsp;&nbsp;16080 | &nbsp;&nbsp;&nbsp;&nbsp;343875 |
| Shree Cement, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;305 | &nbsp;&nbsp;&nbsp;&nbsp;110114 |
| Shriram Finance, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;50288 | &nbsp;&nbsp;&nbsp;&nbsp;414915 |
| Siemens, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;3067 | &nbsp;&nbsp;&nbsp;&nbsp;116570 |
| Solar Industries India, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;956 | &nbsp;&nbsp;&nbsp;&nbsp;196225 |
| Sona BLW Precision Forgings, Ltd. (B) | &nbsp;&nbsp;&nbsp;&nbsp;13867 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77994 |
| SRF, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;4927 | &nbsp;&nbsp;&nbsp;&nbsp;185970 |
| State Bank of India | &nbsp;&nbsp;&nbsp;&nbsp;3731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35668 |
| State Bank of India, GDR | &nbsp;&nbsp;&nbsp;&nbsp;5914 | &nbsp;&nbsp;&nbsp;&nbsp;554166 |
| Sun Pharmaceutical Industries, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;34222 | &nbsp;&nbsp;&nbsp;&nbsp;668695 |
| Sundaram Finance, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;2348 | &nbsp;&nbsp;&nbsp;&nbsp;141717 |
| Supreme Industries, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;2145 | &nbsp;&nbsp;&nbsp;&nbsp;109202 |
| Suzlon Energy, Ltd. (A) | &nbsp;&nbsp;335422 | &nbsp;&nbsp;&nbsp;&nbsp;264574 |
| Tata Communications, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;3897 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76653 |
| Tata Consultancy Services, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;32254 | &nbsp;&nbsp;&nbsp;1301679 |
| Tata Consumer Products, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;20545 | &nbsp;&nbsp;&nbsp;&nbsp;263122 |
| Tata Elxsi, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;1170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85964 |
| Tata Motors, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;72198 | &nbsp;&nbsp;&nbsp;&nbsp;579462 |
| Tata Steel, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;26136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48758 |
| Tata Steel, Ltd., GDR | &nbsp;&nbsp;&nbsp;&nbsp;23852 | &nbsp;&nbsp;&nbsp;&nbsp;445288 |
| Tech Mahindra, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;18580 | &nbsp;&nbsp;&nbsp;&nbsp;365284 |
| The Indian Hotels Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;30454 | &nbsp;&nbsp;&nbsp;&nbsp;269947 |
| The Phoenix Mills, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;6924 | &nbsp;&nbsp;&nbsp;&nbsp;126266 |
| The Tata Power Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;57820 | &nbsp;&nbsp;&nbsp;&nbsp;273670 |
| Thermax, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;1469 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58510 |
| Titan Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;12663 | &nbsp;&nbsp;&nbsp;&nbsp;544665 |
| Torrent Pharmaceuticals, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;4375 | &nbsp;&nbsp;&nbsp;&nbsp;174060 |
| Torrent Power, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;5925 | &nbsp;&nbsp;&nbsp;&nbsp;101313 |
| Trent, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;6465 | &nbsp;&nbsp;&nbsp;&nbsp;467558 |
| Tube Investments of India, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;3625 | &nbsp;&nbsp;&nbsp;&nbsp;131629 |
| TVS Motor Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;8184 | &nbsp;&nbsp;&nbsp;&nbsp;277789 |
| UltraTech Cement, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;3177 | &nbsp;&nbsp;&nbsp;&nbsp;447820 |
| UltraTech Cement, Ltd., GDR | &nbsp;&nbsp;&nbsp;&nbsp;1026 | &nbsp;&nbsp;&nbsp;&nbsp;144676 |
| Union Bank of India, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;51073 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91373 |
| United Spirits, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;10125 | &nbsp;&nbsp;&nbsp;&nbsp;168611 |
| UPL, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;15210 | &nbsp;&nbsp;&nbsp;&nbsp;117281 |
| UPL, Ltd., Partly Paid Shares (A) | &nbsp;&nbsp;&nbsp;&nbsp;1901 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9555 |
| Varun Beverages, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;47086 | &nbsp;&nbsp;&nbsp;&nbsp;250979 |
| Vedanta, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;47644 | &nbsp;&nbsp;&nbsp;&nbsp;256903 |
| Vodafone Idea, Ltd. (A) | &nbsp;&nbsp;832452 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72375 |
| Voltas, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;7546 | &nbsp;&nbsp;&nbsp;&nbsp;115736 |
| Wipro, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;2274 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7069 |
| Wipro, Ltd., ADR | &nbsp;&nbsp;&nbsp;&nbsp;88126 | &nbsp;&nbsp;&nbsp;&nbsp;266141 |
| Yes Bank, Ltd. (A) | &nbsp;&nbsp;506651 | &nbsp;&nbsp;&nbsp;&nbsp;120304 |
| Zydus Lifesciences, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;8814 | &nbsp;&nbsp;&nbsp;&nbsp;101801 |
|  |  | 56209638 |
| **Indonesia - 0.3%** |  |  |
| Alamtri Resources Indonesia Tbk PT | &nbsp;&nbsp;495900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55984 |
| Amman Mineral Internasional PT (A) | &nbsp;&nbsp;222800 | &nbsp;&nbsp;&nbsp;&nbsp;116173 |
| Astra International Tbk PT | &nbsp;&nbsp;721800 | &nbsp;&nbsp;&nbsp;&nbsp;200166 |
| Bank Central Asia Tbk PT | 1978100 | &nbsp;&nbsp;&nbsp;1057388 |
| Bank Mandiri Persero Tbk PT | 1309248 | &nbsp;&nbsp;&nbsp;&nbsp;393278 |
| Bank Negara Indonesia Persero Tbk PT | &nbsp;&nbsp;553000 | &nbsp;&nbsp;&nbsp;&nbsp;140353 |
| Bank Rakyat Indonesia Persero Tbk PT | 2431948 | &nbsp;&nbsp;&nbsp;&nbsp;560710 |
| Barito Pacific Tbk PT (A) | &nbsp;&nbsp;733695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75083 |
| Chandra Asri Pacific Tbk PT | &nbsp;&nbsp;308500 | &nbsp;&nbsp;&nbsp;&nbsp;187762 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Indonesia (continued)** |  |  |
| Charoen Pokphand Indonesia Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;276000 | $&nbsp;&nbsp;&nbsp;&nbsp;79908 |
| GoTo Gojek Tokopedia Tbk PT (A) | 31738300 | &nbsp;&nbsp;&nbsp;&nbsp;113386 |
| Indofood CBP Sukses Makmur Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;74500 | &nbsp;&nbsp;&nbsp;&nbsp;48206 |
| Indofood Sukses Makmur Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;147500 | &nbsp;&nbsp;&nbsp;&nbsp;73858 |
| Kalbe Farma Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;855000 | &nbsp;&nbsp;&nbsp;&nbsp;80418 |
| Sumber Alfaria Trijaya Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;655300 | &nbsp;&nbsp;&nbsp;&nbsp;96515 |
| Telkom Indonesia Persero Tbk PT | &nbsp;&nbsp;1699700 | &nbsp;&nbsp;&nbsp;&nbsp;290787 |
| Telkom Indonesia Persero Tbk PT, ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6065 |
| United Tractors Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;55279 | &nbsp;&nbsp;&nbsp;&nbsp;73028 |
|  |  | 3649068 |
| **Ireland - 0.8%** |  |  |
| AerCap Holdings NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6800 | &nbsp;&nbsp;&nbsp;&nbsp;795600 |
| AIB Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;74725 | &nbsp;&nbsp;&nbsp;&nbsp;616696 |
| Bank of Ireland Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;36548 | &nbsp;&nbsp;&nbsp;&nbsp;520815 |
| DCC PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3357 | &nbsp;&nbsp;&nbsp;&nbsp;217871 |
| Experian PLC | &nbsp;&nbsp;&nbsp;&nbsp;32652 | 1683736 |
| James Hardie Industries PLC, CHESS Depositary Interest (A) | &nbsp;&nbsp;&nbsp;&nbsp;15328 | &nbsp;&nbsp;&nbsp;&nbsp;411608 |
| Kerry Group PLC, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;544 | &nbsp;&nbsp;&nbsp;&nbsp;60105 |
| Kerry Group PLC, Class A (London Stock Exchange) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5260 | &nbsp;&nbsp;&nbsp;&nbsp;565333 |
| Kingspan Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;226 | &nbsp;&nbsp;&nbsp;&nbsp;19257 |
| Kingspan Group PLC (London Stock Exchange) (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5232 | &nbsp;&nbsp;&nbsp;&nbsp;479423 |
| PDD Holdings, Inc., ADR (A) | &nbsp;&nbsp;&nbsp;&nbsp;24800 | 2595568 |
| Ryanair Holdings PLC | &nbsp;&nbsp;&nbsp;&nbsp;30317 | &nbsp;&nbsp;&nbsp;&nbsp;859965 |
|  |  | 8825977 |
| **Israel - 0.6%** |  |  |
| Azrieli Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1424 | &nbsp;&nbsp;&nbsp;&nbsp;131135 |
| Bank Hapoalim BM | &nbsp;&nbsp;&nbsp;&nbsp;44745 | &nbsp;&nbsp;&nbsp;&nbsp;859465 |
| Bank Leumi Le-Israel BM | &nbsp;&nbsp;&nbsp;&nbsp;54437 | 1012830 |
| Check Point Software Technologies, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3116 | &nbsp;&nbsp;&nbsp;&nbsp;689415 |
| CyberArk Software, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1700 | &nbsp;&nbsp;&nbsp;&nbsp;691696 |
| Elbit Systems, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;969 | &nbsp;&nbsp;&nbsp;&nbsp;431625 |
| ICL Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;27153 | &nbsp;&nbsp;&nbsp;&nbsp;186413 |
| Isracard, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 |
| Israel Discount Bank, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;44642 | &nbsp;&nbsp;&nbsp;&nbsp;445292 |
| Mizrahi Tefahot Bank, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5543 | &nbsp;&nbsp;&nbsp;&nbsp;361580 |
| Monday.com, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1400 | &nbsp;&nbsp;&nbsp;&nbsp;440272 |
| Nice, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2200 | &nbsp;&nbsp;&nbsp;&nbsp;372929 |
| Teva Pharmaceutical Industries, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;33126 | &nbsp;&nbsp;&nbsp;&nbsp;557318 |
| Teva Pharmaceutical Industries, Ltd., ADR (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8700 | &nbsp;&nbsp;&nbsp;&nbsp;145812 |
| Wix.com, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1900 | &nbsp;&nbsp;&nbsp;&nbsp;301074 |
|  |  | 6626859 |
| **Italy - 1.9%** |  |  |
| Banca Mediolanum SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7974 | &nbsp;&nbsp;&nbsp;&nbsp;137418 |
| Banco BPM SpA | &nbsp;&nbsp;&nbsp;&nbsp;45364 | &nbsp;&nbsp;&nbsp;&nbsp;529514 |
| BPER Banca SpA | &nbsp;&nbsp;&nbsp;&nbsp;34925 | &nbsp;&nbsp;&nbsp;&nbsp;316990 |
| Davide Campari-Milano NV | &nbsp;&nbsp;&nbsp;&nbsp;21368 | &nbsp;&nbsp;&nbsp;&nbsp;143857 |
| DiaSorin SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;732 | &nbsp;&nbsp;&nbsp;&nbsp;78346 |
| Enel SpA | &nbsp;&nbsp;&nbsp;&nbsp;290019 | 2752492 |
| Eni SpA | &nbsp;&nbsp;&nbsp;&nbsp;78545 | 1268829 |
| Ferrari NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4495 | 2202155 |
| FinecoBank SpA | &nbsp;&nbsp;&nbsp;&nbsp;22046 | &nbsp;&nbsp;&nbsp;&nbsp;489060 |
| Generali | &nbsp;&nbsp;&nbsp;&nbsp;33048 | 1175570 |
| Infrastrutture Wireless Italiane SpA (B) | &nbsp;&nbsp;&nbsp;&nbsp;11205 | &nbsp;&nbsp;&nbsp;&nbsp;137015 |
| Intesa Sanpaolo SpA | &nbsp;&nbsp;&nbsp;&nbsp;539618 | 3108430 |
| Leonardo SpA | &nbsp;&nbsp;&nbsp;&nbsp;14406 | &nbsp;&nbsp;&nbsp;&nbsp;812888 |
| Mediobanca Banca di Credito Finanziario SpA | &nbsp;&nbsp;&nbsp;&nbsp;18112 | &nbsp;&nbsp;&nbsp;&nbsp;421485 |
| Moncler SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8302 | &nbsp;&nbsp;&nbsp;&nbsp;473560 |
| Nexi SpA (B) | &nbsp;&nbsp;&nbsp;&nbsp;20345 | &nbsp;&nbsp;&nbsp;&nbsp;121507 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 39 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### International Equity Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Italy (continued)** |  |  |
| Poste Italiane SpA (B) | &nbsp;&nbsp;16613 | $&nbsp;&nbsp;&nbsp;&nbsp;356945 |
| Prysmian SpA | &nbsp;&nbsp;10020 | &nbsp;&nbsp;&nbsp;&nbsp;709410 |
| Recordati Industria Chimica e Farmaceutica SpA | &nbsp;&nbsp;&nbsp;4175 | &nbsp;&nbsp;&nbsp;&nbsp;262420 |
| Snam SpA | &nbsp;&nbsp;70720 | &nbsp;&nbsp;&nbsp;&nbsp;428118 |
| Telecom Italia SpA (A) | 387741 | &nbsp;&nbsp;&nbsp;&nbsp;191589 |
| Terna - Rete Elettrica Nazionale | &nbsp;&nbsp;49344 | &nbsp;&nbsp;&nbsp;&nbsp;507305 |
| UniCredit SpA | &nbsp;&nbsp;49989 | &nbsp;&nbsp;&nbsp;3353438 |
| Unipol Assicurazioni SpA | &nbsp;&nbsp;13849 | &nbsp;&nbsp;&nbsp;&nbsp;274277 |
|  |  | 20252618 |
| **Japan - 13.6%** |  |  |
| Advantest Corp. | &nbsp;&nbsp;27200 | &nbsp;&nbsp;&nbsp;2016363 |
| Aeon Company, Ltd. | &nbsp;&nbsp;23300 | &nbsp;&nbsp;&nbsp;&nbsp;714210 |
| AGC, Inc. | &nbsp;&nbsp;&nbsp;7300 | &nbsp;&nbsp;&nbsp;&nbsp;214150 |
| Aisin Corp. | &nbsp;&nbsp;19100 | &nbsp;&nbsp;&nbsp;&nbsp;244335 |
| Ajinomoto Company, Inc. | &nbsp;&nbsp;33000 | &nbsp;&nbsp;&nbsp;&nbsp;895064 |
| ANA Holdings, Inc. | &nbsp;&nbsp;&nbsp;5300 | &nbsp;&nbsp;&nbsp;&nbsp;103774 |
| Asahi Group Holdings, Ltd. | &nbsp;&nbsp;51700 | &nbsp;&nbsp;&nbsp;&nbsp;691081 |
| Asahi Kasei Corp. | &nbsp;&nbsp;42800 | &nbsp;&nbsp;&nbsp;&nbsp;304683 |
| Asics Corp. | &nbsp;&nbsp;23600 | &nbsp;&nbsp;&nbsp;&nbsp;601809 |
| Astellas Pharma, Inc. | &nbsp;&nbsp;63300 | &nbsp;&nbsp;&nbsp;&nbsp;619767 |
| Bandai Namco Holdings, Inc. | &nbsp;&nbsp;20997 | &nbsp;&nbsp;&nbsp;&nbsp;752516 |
| Bridgestone Corp. | &nbsp;&nbsp;20100 | &nbsp;&nbsp;&nbsp;&nbsp;821933 |
| Canon, Inc. | &nbsp;&nbsp;33300 | &nbsp;&nbsp;&nbsp;&nbsp;965824 |
| Capcom Company, Ltd. | &nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;409818 |
| Central Japan Railway Company | &nbsp;&nbsp;27200 | &nbsp;&nbsp;&nbsp;&nbsp;608045 |
| Chubu Electric Power Company, Inc. | &nbsp;&nbsp;22000 | &nbsp;&nbsp;&nbsp;&nbsp;272237 |
| Chugai Pharmaceutical Company, Ltd. | &nbsp;&nbsp;23800 | &nbsp;&nbsp;&nbsp;1242784 |
| Concordia Financial Group, Ltd. | &nbsp;&nbsp;39100 | &nbsp;&nbsp;&nbsp;&nbsp;253750 |
| Dai Nippon Printing Company, Ltd. | &nbsp;&nbsp;14000 | &nbsp;&nbsp;&nbsp;&nbsp;212518 |
| Daifuku Company, Ltd. | &nbsp;&nbsp;11700 | &nbsp;&nbsp;&nbsp;&nbsp;300993 |
| Dai-ichi Life Holdings, Inc. | 128700 | &nbsp;&nbsp;&nbsp;&nbsp;978455 |
| Daiichi Sankyo Company, Ltd. | &nbsp;&nbsp;62000 | &nbsp;&nbsp;&nbsp;1436421 |
| Daikin Industries, Ltd. | &nbsp;&nbsp;&nbsp;9400 | &nbsp;&nbsp;&nbsp;1103406 |
| Daito Trust Construction Company, Ltd. | &nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;217837 |
| Daiwa House Industry Company, Ltd. | &nbsp;&nbsp;20800 | &nbsp;&nbsp;&nbsp;&nbsp;714746 |
| Daiwa Securities Group, Inc. | &nbsp;&nbsp;47000 | &nbsp;&nbsp;&nbsp;&nbsp;333795 |
| Denso Corp. | &nbsp;&nbsp;67500 | &nbsp;&nbsp;&nbsp;&nbsp;910932 |
| Dentsu Group, Inc. | &nbsp;&nbsp;&nbsp;7500 | &nbsp;&nbsp;&nbsp;&nbsp;166185 |
| Disco Corp. | &nbsp;&nbsp;&nbsp;3300 | &nbsp;&nbsp;&nbsp;&nbsp;977603 |
| East Japan Railway Company | &nbsp;&nbsp;32400 | &nbsp;&nbsp;&nbsp;&nbsp;696954 |
| Eisai Company, Ltd. | &nbsp;&nbsp;&nbsp;9600 | &nbsp;&nbsp;&nbsp;&nbsp;275716 |
| ENEOS Holdings, Inc. | &nbsp;&nbsp;98411 | &nbsp;&nbsp;&nbsp;&nbsp;487807 |
| FANUC Corp. | &nbsp;&nbsp;33400 | &nbsp;&nbsp;&nbsp;&nbsp;906719 |
| Fast Retailing Company, Ltd. | &nbsp;&nbsp;&nbsp;6800 | &nbsp;&nbsp;&nbsp;2331474 |
| Fuji Electric Company, Ltd. | &nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;211839 |
| FUJIFILM Holdings Corp. | &nbsp;&nbsp;39900 | &nbsp;&nbsp;&nbsp;&nbsp;864057 |
| Fujikura, Ltd. | &nbsp;&nbsp;&nbsp;8800 | &nbsp;&nbsp;&nbsp;&nbsp;462928 |
| Fujitsu, Ltd. | &nbsp;&nbsp;62600 | &nbsp;&nbsp;&nbsp;1518637 |
| Hankyu Hanshin Holdings, Inc. | &nbsp;&nbsp;&nbsp;8400 | &nbsp;&nbsp;&nbsp;&nbsp;228343 |
| Hikari Tsushin, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;177160 |
| Hitachi, Ltd. | 163400 | &nbsp;&nbsp;&nbsp;4749112 |
| Honda Motor Company, Ltd. | 158700 | &nbsp;&nbsp;&nbsp;1530320 |
| Hoshizaki Corp. | &nbsp;&nbsp;&nbsp;3800 | &nbsp;&nbsp;&nbsp;&nbsp;130941 |
| Hoya Corp. | &nbsp;&nbsp;12300 | &nbsp;&nbsp;&nbsp;1460774 |
| Hulic Company, Ltd. | &nbsp;&nbsp;15600 | &nbsp;&nbsp;&nbsp;&nbsp;157354 |
| Idemitsu Kosan Company, Ltd. | &nbsp;&nbsp;30730 | &nbsp;&nbsp;&nbsp;&nbsp;186358 |
| IHI Corp. | &nbsp;&nbsp;&nbsp;5200 | &nbsp;&nbsp;&nbsp;&nbsp;562451 |
| Inpex Corp. | &nbsp;&nbsp;30900 | &nbsp;&nbsp;&nbsp;&nbsp;433748 |
| Isuzu Motors, Ltd. | &nbsp;&nbsp;19800 | &nbsp;&nbsp;&nbsp;&nbsp;250825 |
| ITOCHU Corp. | &nbsp;&nbsp;42400 | &nbsp;&nbsp;&nbsp;2220275 |
| Japan Airlines Company, Ltd. | &nbsp;&nbsp;&nbsp;4700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95861 |
| Japan Exchange Group, Inc. | &nbsp;&nbsp;35900 | &nbsp;&nbsp;&nbsp;&nbsp;363668 |
| Japan Post Bank Company, Ltd. | &nbsp;&nbsp;64300 | &nbsp;&nbsp;&nbsp;&nbsp;693188 |
| Japan Post Holdings Company, Ltd. | &nbsp;&nbsp;67400 | &nbsp;&nbsp;&nbsp;&nbsp;624273 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Japan (continued)** |  |  |
| Japan Post Insurance Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;6400 | $&nbsp;&nbsp;&nbsp;&nbsp;144898 |
| Japan Tobacco, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;42500 | 1252025 |
| JFE Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;19800 | &nbsp;&nbsp;&nbsp;&nbsp;230327 |
| Kajima Corp. | &nbsp;&nbsp;&nbsp;&nbsp;15100 | &nbsp;&nbsp;&nbsp;&nbsp;393834 |
| Kao Corp. | &nbsp;&nbsp;&nbsp;&nbsp;16600 | &nbsp;&nbsp;&nbsp;&nbsp;743773 |
| Kawasaki Kisen Kaisha, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;14100 | &nbsp;&nbsp;&nbsp;&nbsp;199685 |
| KDDI Corp. | &nbsp;&nbsp;108800 | 1868159 |
| Keyence Corp. | &nbsp;&nbsp;&nbsp;&nbsp;6896 | 2757214 |
| Kikkoman Corp. | &nbsp;&nbsp;&nbsp;&nbsp;23100 | &nbsp;&nbsp;&nbsp;&nbsp;214272 |
| Kirin Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;27200 | &nbsp;&nbsp;&nbsp;&nbsp;381171 |
| Kobe Bussan Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;5500 | &nbsp;&nbsp;&nbsp;&nbsp;170806 |
| Komatsu, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;32100 | 1059093 |
| Konami Group Corp. | &nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;569166 |
| Kubota Corp. | &nbsp;&nbsp;&nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;394692 |
| Kyocera Corp. | &nbsp;&nbsp;&nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;540466 |
| Kyowa Kirin Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;9473 | &nbsp;&nbsp;&nbsp;&nbsp;162152 |
| Lasertec Corp. | &nbsp;&nbsp;&nbsp;&nbsp;2800 | &nbsp;&nbsp;&nbsp;&nbsp;375370 |
| LY Corp. | &nbsp;&nbsp;&nbsp;&nbsp;99300 | &nbsp;&nbsp;&nbsp;&nbsp;365683 |
| M3, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16200 | &nbsp;&nbsp;&nbsp;&nbsp;222535 |
| Makita Corp. | &nbsp;&nbsp;&nbsp;&nbsp;8700 | &nbsp;&nbsp;&nbsp;&nbsp;267942 |
| Marubeni Corp. | &nbsp;&nbsp;&nbsp;&nbsp;50200 | 1011943 |
| MatsukiyoCocokara & Company | &nbsp;&nbsp;&nbsp;&nbsp;11700 | &nbsp;&nbsp;&nbsp;&nbsp;240675 |
| MEIJI Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;8200 | &nbsp;&nbsp;&nbsp;&nbsp;181333 |
| MINEBEA MITSUMI, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12500 | &nbsp;&nbsp;&nbsp;&nbsp;182797 |
| Mitsubishi Chemical Group Corp. | &nbsp;&nbsp;&nbsp;&nbsp;46900 | &nbsp;&nbsp;&nbsp;&nbsp;246507 |
| Mitsubishi Corp. | &nbsp;&nbsp;121900 | 2435791 |
| Mitsubishi Electric Corp. | &nbsp;&nbsp;&nbsp;&nbsp;67400 | 1449704 |
| Mitsubishi Estate Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;37900 | &nbsp;&nbsp;&nbsp;&nbsp;710516 |
| Mitsubishi HC Capital, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;32100 | &nbsp;&nbsp;&nbsp;&nbsp;236343 |
| Mitsubishi Heavy Industries, Ltd. | &nbsp;&nbsp;114300 | 2860286 |
| Mitsubishi UFJ Financial Group, Inc. | &nbsp;&nbsp;408800 | 5573411 |
| Mitsui & Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;89200 | 1817893 |
| Mitsui Fudosan Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;94100 | &nbsp;&nbsp;&nbsp;&nbsp;910990 |
| Mitsui OSK Lines, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;400797 |
| Mizuho Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;85210 | 2365423 |
| MonotaRO Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;177173 |
| MS&AD Insurance Group Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;45900 | 1026122 |
| Murata Manufacturing Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;59500 | &nbsp;&nbsp;&nbsp;&nbsp;879451 |
| NEC Corp. | &nbsp;&nbsp;&nbsp;&nbsp;43600 | 1272032 |
| Nexon Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;11400 | &nbsp;&nbsp;&nbsp;&nbsp;229614 |
| Nidec Corp. | &nbsp;&nbsp;&nbsp;&nbsp;29200 | &nbsp;&nbsp;&nbsp;&nbsp;567446 |
| Nintendo Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;39400 | 3783573 |
| Nippon Building Fund, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp;&nbsp;&nbsp;258546 |
| Nippon Paint Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;33800 | &nbsp;&nbsp;&nbsp;&nbsp;271828 |
| Nippon Sanso Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;6500 | &nbsp;&nbsp;&nbsp;&nbsp;245970 |
| Nippon Steel Corp. | &nbsp;&nbsp;&nbsp;&nbsp;34600 | &nbsp;&nbsp;&nbsp;&nbsp;654353 |
| Nippon Telegraph & Telephone Corp. | 1065500 | 1139137 |
| Nippon Yusen KK | &nbsp;&nbsp;&nbsp;&nbsp;15400 | &nbsp;&nbsp;&nbsp;&nbsp;554014 |
| Nissan Motor Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;75800 | &nbsp;&nbsp;&nbsp;&nbsp;183404 |
| Nissin Foods Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;7100 | &nbsp;&nbsp;&nbsp;&nbsp;147504 |
| Nitori Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;2800 | &nbsp;&nbsp;&nbsp;&nbsp;269501 |
| Nitto Denko Corp. | &nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;482787 |
| Nomura Holdings, Inc. | &nbsp;&nbsp;105900 | &nbsp;&nbsp;&nbsp;&nbsp;697849 |
| Nomura Research Institute, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;13346 | &nbsp;&nbsp;&nbsp;&nbsp;533805 |
| Obayashi Corp. | &nbsp;&nbsp;&nbsp;&nbsp;22500 | &nbsp;&nbsp;&nbsp;&nbsp;340916 |
| Obic Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;11700 | &nbsp;&nbsp;&nbsp;&nbsp;454955 |
| Olympus Corp. | &nbsp;&nbsp;&nbsp;&nbsp;40500 | &nbsp;&nbsp;&nbsp;&nbsp;481072 |
| Omron Corp. | &nbsp;&nbsp;&nbsp;&nbsp;5900 | &nbsp;&nbsp;&nbsp;&nbsp;159043 |
| Ono Pharmaceutical Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;14000 | &nbsp;&nbsp;&nbsp;&nbsp;151729 |
| Oracle Corp. Japan | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;178786 |
| Oriental Land Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;38300 | &nbsp;&nbsp;&nbsp;&nbsp;882117 |
| ORIX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;41100 | &nbsp;&nbsp;&nbsp;&nbsp;927490 |
| Osaka Gas Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;13200 | &nbsp;&nbsp;&nbsp;&nbsp;338579 |
| Otsuka Corp. | &nbsp;&nbsp;&nbsp;&nbsp;7600 | &nbsp;&nbsp;&nbsp;&nbsp;154823 |
| Otsuka Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;15600 | &nbsp;&nbsp;&nbsp;&nbsp;773437 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 40 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### International Equity Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Japan (continued)** |  |  |
| Pan Pacific International Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;13400 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460894 |
| Panasonic Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;82100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;878414 |
| Rakuten Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;52800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290937 |
| Recruit Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;50200 | &nbsp;&nbsp;&nbsp;&nbsp;2952091 |
| Renesas Electronics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;742285 |
| Resona Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;73400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;677909 |
| Ricoh Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;18600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175536 |
| Sanrio Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;6400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;309476 |
| SBI Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;9513 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;331482 |
| SCREEN Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;2800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227672 |
| SCSK Corp. | &nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162689 |
| Secom Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;14800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;531688 |
| Sekisui Chemical Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;13400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;242683 |
| Sekisui House, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;21400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;471000 |
| Seven & i Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;78500 | &nbsp;&nbsp;&nbsp;&nbsp;1263482 |
| SG Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;12400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138111 |
| Shimadzu Corp. | &nbsp;&nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197784 |
| Shimano, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;391447 |
| Shin-Etsu Chemical Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;64200 | &nbsp;&nbsp;&nbsp;&nbsp;2120010 |
| Shionogi & Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;26400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475260 |
| Shiseido Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;14000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250049 |
| SMC Corp. | &nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;716724 |
| SoftBank Corp. | 1020800 | &nbsp;&nbsp;&nbsp;&nbsp;1581169 |
| SoftBank Group Corp. | &nbsp;&nbsp;&nbsp;&nbsp;34100 | &nbsp;&nbsp;&nbsp;&nbsp;2479275 |
| Sompo Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;31600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;952259 |
| Sony Group Corp. | &nbsp;&nbsp;219300 | &nbsp;&nbsp;&nbsp;&nbsp;5701867 |
| Subaru Corp. | &nbsp;&nbsp;&nbsp;&nbsp;20800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360597 |
| Sumitomo Corp. | &nbsp;&nbsp;&nbsp;&nbsp;38900 | &nbsp;&nbsp;&nbsp;&nbsp;1003881 |
| Sumitomo Electric Industries, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;25800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;553240 |
| Sumitomo Metal Mining Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;226734 |
| Sumitomo Mitsui Financial Group, Inc. | &nbsp;&nbsp;131500 | &nbsp;&nbsp;&nbsp;&nbsp;3311295 |
| Sumitomo Mitsui Trust Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;23100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;614401 |
| Sumitomo Realty & Development Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;11000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;424813 |
| Suntory Beverage & Food, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159897 |
| Suzuki Motor Corp. | &nbsp;&nbsp;&nbsp;&nbsp;55100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;664298 |
| Sysmex Corp. | &nbsp;&nbsp;&nbsp;&nbsp;18000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;313330 |
| T&D Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370957 |
| Taisei Corp. | &nbsp;&nbsp;&nbsp;&nbsp;5800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;337795 |
| Takeda Pharmaceutical Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;56776 | &nbsp;&nbsp;&nbsp;&nbsp;1752844 |
| TDK Corp. | &nbsp;&nbsp;&nbsp;&nbsp;69300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;808908 |
| Terumo Corp. | &nbsp;&nbsp;&nbsp;&nbsp;47000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;862538 |
| The Chiba Bank, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;21600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199621 |
| The Kansai Electric Power Company, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;32900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390188 |
| TIS, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;7800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261375 |
| Toho Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;4067 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239936 |
| Tokio Marine Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;65500 | &nbsp;&nbsp;&nbsp;&nbsp;2775957 |
| Tokyo Electron, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;16000 | &nbsp;&nbsp;&nbsp;&nbsp;3064150 |
| Tokyo Gas Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;12600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;419102 |
| Tokyo Metro Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;10100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117530 |
| Tokyu Corp. | &nbsp;&nbsp;&nbsp;&nbsp;17900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212941 |
| TOPPAN Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;8300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225486 |
| Toray Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;50800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;347739 |
| Toyota Industries Corp. | &nbsp;&nbsp;&nbsp;&nbsp;5800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;654604 |
| Toyota Motor Corp. | &nbsp;&nbsp;337900 | &nbsp;&nbsp;&nbsp;&nbsp;5819647 |
| Toyota Tsusho Corp. | &nbsp;&nbsp;&nbsp;&nbsp;22500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;509653 |
| Trend Micro, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;318163 |
| Unicharm Corp. | &nbsp;&nbsp;&nbsp;&nbsp;40500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;292442 |
| West Japan Railway Company | &nbsp;&nbsp;&nbsp;&nbsp;16200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370349 |
| Yakult Honsha Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;8686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163583 |
| Yamaha Motor Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;31500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235717 |
| Yokogawa Electric Corp. | &nbsp;&nbsp;&nbsp;&nbsp;7886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210665 |
| Zensho Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;3400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205790 |
| ZOZO, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155588 |
|  |  | 145538491 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Luxembourg - 0.1%** |  |  |
| ArcelorMittal SA | &nbsp;&nbsp;16521 | $&nbsp;&nbsp;&nbsp;&nbsp;524614 |
| CVC Capital Partners PLC (B) | &nbsp;&nbsp;&nbsp;7461 | &nbsp;&nbsp;&nbsp;&nbsp;153409 |
| Eurofins Scientific SE | &nbsp;&nbsp;&nbsp;4949 | &nbsp;&nbsp;&nbsp;&nbsp;352693 |
| Reinet Investments SCA | &nbsp;&nbsp;&nbsp;5229 | &nbsp;&nbsp;&nbsp;&nbsp;170710 |
| Tenaris SA | &nbsp;&nbsp;15170 | &nbsp;&nbsp;&nbsp;&nbsp;284358 |
| Zabka Group SA (A) | &nbsp;&nbsp;10443 | &nbsp;&nbsp;&nbsp;&nbsp;62767 |
|  |  | 1548551 |
| **Macau - 0.0%** |  |  |
| Sands China, Ltd. (A) | &nbsp;&nbsp;82400 | &nbsp;&nbsp;&nbsp;&nbsp;172210 |
| **Malaysia - 0.4%** |  |  |
| AMMB Holdings BHD | &nbsp;&nbsp;80487 | &nbsp;&nbsp;&nbsp;&nbsp;97519 |
| Axiata Group BHD | 101690 | &nbsp;&nbsp;&nbsp;&nbsp;55807 |
| CELCOMDIGI BHD | 124000 | &nbsp;&nbsp;&nbsp;&nbsp;115824 |
| CIMB Group Holdings BHD | 280228 | &nbsp;&nbsp;&nbsp;&nbsp;451967 |
| Gamuda BHD | 168617 | &nbsp;&nbsp;&nbsp;&nbsp;191932 |
| Genting BHD | &nbsp;&nbsp;72900 | &nbsp;&nbsp;&nbsp;&nbsp;52818 |
| Hong Leong Bank BHD | &nbsp;&nbsp;23269 | &nbsp;&nbsp;&nbsp;&nbsp;108328 |
| IHH Healthcare BHD | &nbsp;&nbsp;75900 | &nbsp;&nbsp;&nbsp;&nbsp;122961 |
| IOI Corp. BHD | &nbsp;&nbsp;81966 | &nbsp;&nbsp;&nbsp;&nbsp;72842 |
| Kuala Lumpur Kepong BHD | &nbsp;&nbsp;18132 | &nbsp;&nbsp;&nbsp;&nbsp;89188 |
| Malayan Banking BHD | 191314 | &nbsp;&nbsp;&nbsp;&nbsp;440735 |
| Maxis BHD | &nbsp;&nbsp;82800 | &nbsp;&nbsp;&nbsp;&nbsp;71034 |
| MISC BHD | &nbsp;&nbsp;45780 | &nbsp;&nbsp;&nbsp;&nbsp;82552 |
| Mr. D.I.Y Group M BHD (B) | 115950 | &nbsp;&nbsp;&nbsp;&nbsp;45167 |
| Nestle Malaysia BHD | &nbsp;&nbsp;&nbsp;2800 | &nbsp;&nbsp;&nbsp;&nbsp;51034 |
| Petronas Chemicals Group BHD | &nbsp;&nbsp;99800 | &nbsp;&nbsp;&nbsp;&nbsp;82795 |
| Petronas Dagangan BHD | &nbsp;&nbsp;12200 | &nbsp;&nbsp;&nbsp;&nbsp;62376 |
| Petronas Gas BHD | &nbsp;&nbsp;27300 | &nbsp;&nbsp;&nbsp;&nbsp;114210 |
| PPB Group BHD | &nbsp;&nbsp;21240 | &nbsp;&nbsp;&nbsp;&nbsp;51889 |
| Press Metal Aluminium Holdings BHD | 130600 | &nbsp;&nbsp;&nbsp;&nbsp;160827 |
| Public Bank BHD | 510590 | &nbsp;&nbsp;&nbsp;&nbsp;522679 |
| QL Resources BHD | &nbsp;&nbsp;52700 | &nbsp;&nbsp;&nbsp;&nbsp;57596 |
| RHB Bank BHD | &nbsp;&nbsp;62165 | &nbsp;&nbsp;&nbsp;&nbsp;93006 |
| SD Guthrie BHD | &nbsp;&nbsp;70286 | &nbsp;&nbsp;&nbsp;&nbsp;77501 |
| Sime Darby BHD | 108224 | &nbsp;&nbsp;&nbsp;&nbsp;42415 |
| Sunway BHD | &nbsp;&nbsp;80500 | &nbsp;&nbsp;&nbsp;&nbsp;89896 |
| Telekom Malaysia BHD | &nbsp;&nbsp;43415 | &nbsp;&nbsp;&nbsp;&nbsp;67582 |
| Tenaga Nasional BHD | 101250 | &nbsp;&nbsp;&nbsp;&nbsp;346015 |
| YTL Corp. BHD | 113900 | &nbsp;&nbsp;&nbsp;&nbsp;62816 |
| YTL Power International BHD | &nbsp;&nbsp;84300 | &nbsp;&nbsp;&nbsp;&nbsp;79671 |
|  |  | 3960982 |
| **Mexico - 0.6%** |  |  |
| Alfa SAB de CV, Class A | 113043 | &nbsp;&nbsp;&nbsp;&nbsp;83437 |
| America Movil SAB de CV, Series B | 657032 | &nbsp;&nbsp;&nbsp;&nbsp;588246 |
| Arca Continental SAB de CV | &nbsp;&nbsp;17800 | &nbsp;&nbsp;&nbsp;&nbsp;188582 |
| Cemex SAB de CV, Series CPO | 540349 | &nbsp;&nbsp;&nbsp;&nbsp;374065 |
| Coca-Cola Femsa SAB de CV | &nbsp;&nbsp;18112 | &nbsp;&nbsp;&nbsp;&nbsp;175449 |
| Fibra Uno Administracion SA de CV | 101500 | &nbsp;&nbsp;&nbsp;&nbsp;140313 |
| Fomento Economico Mexicano SAB de CV | &nbsp;&nbsp;61420 | &nbsp;&nbsp;&nbsp;&nbsp;631859 |
| Gruma SAB de CV, Class B | &nbsp;&nbsp;&nbsp;6020 | &nbsp;&nbsp;&nbsp;&nbsp;103827 |
| Grupo Aeroportuario del Centro Norte SAB de CV | &nbsp;&nbsp;&nbsp;9800 | &nbsp;&nbsp;&nbsp;&nbsp;128894 |
| Grupo Aeroportuario del Pacifico SAB de CV, B Shares | &nbsp;&nbsp;14200 | &nbsp;&nbsp;&nbsp;&nbsp;325069 |
| Grupo Aeroportuario del Sureste SAB de CV, B Shares | &nbsp;&nbsp;&nbsp;6560 | &nbsp;&nbsp;&nbsp;&nbsp;209408 |
| Grupo Bimbo SAB de CV, Series A | &nbsp;&nbsp;44984 | &nbsp;&nbsp;&nbsp;&nbsp;125474 |
| Grupo Carso SAB de CV, Series A1 | &nbsp;&nbsp;19322 | &nbsp;&nbsp;&nbsp;&nbsp;137734 |
| Grupo Comercial Chedraui SA de CV | &nbsp;&nbsp;10100 | &nbsp;&nbsp;&nbsp;&nbsp;79979 |
| Grupo Financiero Banorte SAB de CV, Series O | &nbsp;&nbsp;91362 | &nbsp;&nbsp;&nbsp;&nbsp;838372 |
| Grupo Financiero Inbursa SAB de CV, Series O | &nbsp;&nbsp;63138 | &nbsp;&nbsp;&nbsp;&nbsp;163157 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 41 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### International Equity Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Mexico (continued)** |  |  |
| Grupo Mexico SAB de CV, Series B | 109666 | $&nbsp;&nbsp;&nbsp;&nbsp;661871 |
| Industrias Penoles SAB de CV (A) | &nbsp;&nbsp;&nbsp;6883 | &nbsp;&nbsp;&nbsp;&nbsp;192443 |
| Kimberly-Clark de Mexico SAB de CV, Class A | &nbsp;&nbsp;52378 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96022 |
| Prologis Property Mexico SA de CV | &nbsp;&nbsp;39046 | &nbsp;&nbsp;&nbsp;&nbsp;147220 |
| Promotora y Operadora de Infraestructura SAB de CV | &nbsp;&nbsp;&nbsp;5800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65417 |
| Qualitas Controladora SAB de CV | &nbsp;&nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71957 |
| Wal-Mart de Mexico SAB de CV | 186588 | &nbsp;&nbsp;&nbsp;&nbsp;617303 |
|  |  | &nbsp;&nbsp;&nbsp;6146098 |
| **Netherlands - 3.1%** |  |  |
| ABN AMRO Bank NV (B) | &nbsp;&nbsp;16273 | &nbsp;&nbsp;&nbsp;&nbsp;444351 |
| Adyen NV (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;898 | &nbsp;&nbsp;&nbsp;1649214 |
| Aegon, Ltd. | &nbsp;&nbsp;46032 | &nbsp;&nbsp;&nbsp;&nbsp;333581 |
| Akzo Nobel NV | &nbsp;&nbsp;&nbsp;6168 | &nbsp;&nbsp;&nbsp;&nbsp;432771 |
| Argenx SE (A) | &nbsp;&nbsp;&nbsp;2177 | &nbsp;&nbsp;&nbsp;1205152 |
| ASM International NV | &nbsp;&nbsp;&nbsp;1671 | &nbsp;&nbsp;&nbsp;1071912 |
| ASML Holding NV | &nbsp;&nbsp;14043 | 11253201 |
| ASR Nederland NV | &nbsp;&nbsp;&nbsp;5748 | &nbsp;&nbsp;&nbsp;&nbsp;381930 |
| BE Semiconductor Industries NV | &nbsp;&nbsp;&nbsp;2940 | &nbsp;&nbsp;&nbsp;&nbsp;439688 |
| Euronext NV (B) | &nbsp;&nbsp;&nbsp;2829 | &nbsp;&nbsp;&nbsp;&nbsp;484728 |
| EXOR NV | &nbsp;&nbsp;&nbsp;3503 | &nbsp;&nbsp;&nbsp;&nbsp;353620 |
| Ferrovial SE | &nbsp;&nbsp;18210 | &nbsp;&nbsp;&nbsp;&nbsp;971373 |
| Heineken Holding NV | &nbsp;&nbsp;&nbsp;4565 | &nbsp;&nbsp;&nbsp;&nbsp;340640 |
| Heineken NV | &nbsp;&nbsp;10270 | &nbsp;&nbsp;&nbsp;&nbsp;895986 |
| IMCD NV | &nbsp;&nbsp;&nbsp;2151 | &nbsp;&nbsp;&nbsp;&nbsp;289300 |
| ING Groep NV | 112230 | &nbsp;&nbsp;&nbsp;2459828 |
| JDE Peet's NV | &nbsp;&nbsp;&nbsp;6358 | &nbsp;&nbsp;&nbsp;&nbsp;181614 |
| Koninklijke Ahold Delhaize NV | &nbsp;&nbsp;32723 | &nbsp;&nbsp;&nbsp;1366726 |
| Koninklijke KPN NV | 139041 | &nbsp;&nbsp;&nbsp;&nbsp;678270 |
| Koninklijke Philips NV | &nbsp;&nbsp;30876 | &nbsp;&nbsp;&nbsp;&nbsp;741407 |
| NEPI Rockcastle NV (A) | &nbsp;&nbsp;22555 | &nbsp;&nbsp;&nbsp;&nbsp;171931 |
| NN Group NV | &nbsp;&nbsp;&nbsp;9653 | &nbsp;&nbsp;&nbsp;&nbsp;642304 |
| Prosus NV (A) | &nbsp;&nbsp;48285 | &nbsp;&nbsp;&nbsp;2709108 |
| QIAGEN NV (A) | &nbsp;&nbsp;&nbsp;7706 | &nbsp;&nbsp;&nbsp;&nbsp;371273 |
| Randstad NV | &nbsp;&nbsp;&nbsp;3735 | &nbsp;&nbsp;&nbsp;&nbsp;172636 |
| Stellantis NV | &nbsp;&nbsp;37873 | &nbsp;&nbsp;&nbsp;&nbsp;379342 |
| Stellantis NV (Euronext Paris Exchange) | &nbsp;&nbsp;34423 | &nbsp;&nbsp;&nbsp;&nbsp;345635 |
| Universal Music Group NV | &nbsp;&nbsp;39232 | &nbsp;&nbsp;&nbsp;1272711 |
| Wolters Kluwer NV | &nbsp;&nbsp;&nbsp;8505 | &nbsp;&nbsp;&nbsp;1422364 |
|  |  | 33462596 |
| **New Zealand - 0.2%** |  |  |
| Auckland International Airport, Ltd. | &nbsp;&nbsp;59105 | &nbsp;&nbsp;&nbsp;&nbsp;279007 |
| Contact Energy, Ltd. | &nbsp;&nbsp;27778 | &nbsp;&nbsp;&nbsp;&nbsp;152442 |
| Fisher & Paykel Healthcare Corp., Ltd. | &nbsp;&nbsp;20719 | &nbsp;&nbsp;&nbsp;&nbsp;455088 |
| Infratil, Ltd. | &nbsp;&nbsp;32226 | &nbsp;&nbsp;&nbsp;&nbsp;207946 |
| Meridian Energy, Ltd. | &nbsp;&nbsp;46341 | &nbsp;&nbsp;&nbsp;&nbsp;166788 |
| Xero, Ltd. (A) | &nbsp;&nbsp;&nbsp;5097 | &nbsp;&nbsp;&nbsp;&nbsp;603124 |
|  |  | &nbsp;&nbsp;&nbsp;1864395 |
| **Norway - 0.4%** |  |  |
| Aker BP ASA | &nbsp;&nbsp;10753 | &nbsp;&nbsp;&nbsp;&nbsp;274786 |
| DNB Bank ASA | &nbsp;&nbsp;31611 | &nbsp;&nbsp;&nbsp;&nbsp;874189 |
| Equinor ASA | &nbsp;&nbsp;29876 | &nbsp;&nbsp;&nbsp;&nbsp;754490 |
| Gjensidige Forsikring ASA | &nbsp;&nbsp;&nbsp;6934 | &nbsp;&nbsp;&nbsp;&nbsp;175776 |
| Kongsberg Gruppen ASA | &nbsp;&nbsp;15685 | &nbsp;&nbsp;&nbsp;&nbsp;608294 |
| Mowi ASA | &nbsp;&nbsp;16033 | &nbsp;&nbsp;&nbsp;&nbsp;309652 |
| Norsk Hydro ASA | &nbsp;&nbsp;48185 | &nbsp;&nbsp;&nbsp;&nbsp;275927 |
| Orkla ASA | &nbsp;&nbsp;24150 | &nbsp;&nbsp;&nbsp;&nbsp;263029 |
| Salmar ASA | &nbsp;&nbsp;&nbsp;2325 | &nbsp;&nbsp;&nbsp;&nbsp;100819 |
| Telenor ASA | &nbsp;&nbsp;21695 | &nbsp;&nbsp;&nbsp;&nbsp;337839 |
| Yara International ASA | &nbsp;&nbsp;&nbsp;5667 | &nbsp;&nbsp;&nbsp;&nbsp;209127 |
|  |  | &nbsp;&nbsp;&nbsp;4183928 |
| **Peru - 0.1%** |  |  |
| Cia de Minas Buenaventura SAA, ADR | &nbsp;&nbsp;&nbsp;5764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94645 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Peru (continued)** |  |  |
| Credicorp, Ltd. | &nbsp;&nbsp;&nbsp;2434 | $&nbsp;&nbsp;&nbsp;&nbsp;544048 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;638693 |
| **Philippines - 0.1%** |  |  |
| Ayala Corp. | &nbsp;&nbsp;&nbsp;8920 | &nbsp;&nbsp;&nbsp;&nbsp;90241 |
| Ayala Land, Inc. | 253800 | &nbsp;&nbsp;&nbsp;&nbsp;121787 |
| Bank of the Philippine Islands | &nbsp;&nbsp;77991 | &nbsp;&nbsp;&nbsp;&nbsp;179959 |
| BDO Unibank, Inc. | &nbsp;&nbsp;85293 | &nbsp;&nbsp;&nbsp;&nbsp;231363 |
| International Container Terminal Services, Inc. | &nbsp;&nbsp;35820 | &nbsp;&nbsp;&nbsp;&nbsp;261140 |
| Jollibee Foods Corp. | &nbsp;&nbsp;18900 | &nbsp;&nbsp;&nbsp;&nbsp;72494 |
| Manila Electric Company | &nbsp;&nbsp;&nbsp;9930 | &nbsp;&nbsp;&nbsp;&nbsp;94971 |
| Metropolitan Bank & Trust Company | &nbsp;&nbsp;65642 | &nbsp;&nbsp;&nbsp;&nbsp;84486 |
| PLDT, Inc. | &nbsp;&nbsp;&nbsp;2420 | &nbsp;&nbsp;&nbsp;&nbsp;52324 |
| SM Investments Corp. | &nbsp;&nbsp;&nbsp;8302 | &nbsp;&nbsp;&nbsp;&nbsp;128510 |
| SM Prime Holdings, Inc. | 348244 | &nbsp;&nbsp;&nbsp;&nbsp;145186 |
|  |  | 1462461 |
| **Poland - 0.3%** |  |  |
| Allegro.eu SA (A)(B) | &nbsp;&nbsp;22612 | &nbsp;&nbsp;&nbsp;&nbsp;217700 |
| Bank Millennium SA (A) | &nbsp;&nbsp;21629 | &nbsp;&nbsp;&nbsp;&nbsp;85935 |
| Bank Polska Kasa Opieki SA | &nbsp;&nbsp;&nbsp;6330 | &nbsp;&nbsp;&nbsp;&nbsp;326023 |
| Budimex SA | &nbsp;&nbsp;&nbsp;&nbsp;455 | &nbsp;&nbsp;&nbsp;&nbsp;70517 |
| CCC SA (A) | &nbsp;&nbsp;&nbsp;1923 | &nbsp;&nbsp;&nbsp;&nbsp;109463 |
| CD Projekt SA | &nbsp;&nbsp;&nbsp;2349 | &nbsp;&nbsp;&nbsp;&nbsp;183319 |
| Dino Polska SA (A)(B) | &nbsp;&nbsp;&nbsp;1719 | &nbsp;&nbsp;&nbsp;&nbsp;251202 |
| InPost SA (A) | &nbsp;&nbsp;&nbsp;8484 | &nbsp;&nbsp;&nbsp;&nbsp;141189 |
| KGHM Polska Miedz SA (A) | &nbsp;&nbsp;&nbsp;4931 | &nbsp;&nbsp;&nbsp;&nbsp;176489 |
| LPP SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42 | &nbsp;&nbsp;&nbsp;&nbsp;171176 |
| mBank SA (A) | &nbsp;&nbsp;&nbsp;&nbsp;508 | &nbsp;&nbsp;&nbsp;&nbsp;112452 |
| ORLEN SA | &nbsp;&nbsp;21026 | &nbsp;&nbsp;&nbsp;&nbsp;479213 |
| PGE Polska Grupa Energetyczna SA (A) | &nbsp;&nbsp;36175 | &nbsp;&nbsp;&nbsp;&nbsp;114517 |
| Powszechna Kasa Oszczednosci Bank Polski SA | &nbsp;&nbsp;31391 | &nbsp;&nbsp;&nbsp;&nbsp;655909 |
| Powszechny Zaklad Ubezpieczen SA | &nbsp;&nbsp;21961 | &nbsp;&nbsp;&nbsp;&nbsp;384034 |
| Santander Bank Polska SA | &nbsp;&nbsp;&nbsp;1488 | &nbsp;&nbsp;&nbsp;&nbsp;204483 |
|  |  | 3683621 |
| **Portugal - 0.1%** |  |  |
| EDP SA | 110532 | &nbsp;&nbsp;&nbsp;&nbsp;480183 |
| Galp Energia SGPS SA | &nbsp;&nbsp;16011 | &nbsp;&nbsp;&nbsp;&nbsp;293096 |
| Jeronimo Martins SGPS SA | &nbsp;&nbsp;&nbsp;9675 | &nbsp;&nbsp;&nbsp;&nbsp;244951 |
|  |  | 1018230 |
| **Russia - 0.0%** |  |  |
| Gazprom PJSC, ADR (A)(E) | &nbsp;&nbsp;&nbsp;3680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Gazprom PJSC, ADR (London Stock Exchange) (A)(E) | 251662 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| LUKOIL PJSC, ADR (A)(E) | &nbsp;&nbsp;23756 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| MMC Norilsk Nickel PJSC, ADR (A)(E) | &nbsp;&nbsp;39185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Mobile TeleSystems PJSC, ADR (A)(E) | &nbsp;&nbsp;20264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Novatek PJSC, GDR (A)(E) | &nbsp;&nbsp;&nbsp;3057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Rosneft Oil Company PJSC, GDR (A)(E) | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Rosneft Oil Company PJSC, GDR (London Stock Exchange) (A)(E) | &nbsp;&nbsp;&nbsp;9131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Sberbank of Russia PJSC, ADR (A)(E) | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Sberbank of Russia PJSC, ADR (London Stock Exchange) (A)(E) | &nbsp;&nbsp;34900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Severstal PAO, GDR (A)(E) | &nbsp;&nbsp;&nbsp;4250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Surgutneftegas PJSC, ADR (A)(E) | &nbsp;&nbsp;22274 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Surgutneftegas PJSC, ADR (London Stock Exchange) (A)(E) | &nbsp;&nbsp;23070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Tatneft PJSC, ADR (A)(E) | &nbsp;&nbsp;&nbsp;7986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| VTB Bank PJSC, GDR (A)(E) | &nbsp;&nbsp;50760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| **Saudi Arabia - 1.0%** |  |  |
| ACWA Power Company (A) | &nbsp;&nbsp;&nbsp;5161 | &nbsp;&nbsp;&nbsp;&nbsp;351775 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 42 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### International Equity Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Saudi Arabia (continued)** |  |  |
| Ades Holding Company | &nbsp;&nbsp;11669 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42619 |
| Al Rajhi Bank | &nbsp;&nbsp;69890 | &nbsp;&nbsp;&nbsp;1762825 |
| Al Rajhi Company for Co-operative Insurance (A) | &nbsp;&nbsp;&nbsp;1402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48088 |
| Alinma Bank | &nbsp;&nbsp;43373 | &nbsp;&nbsp;&nbsp;&nbsp;310068 |
| Almarai Company JSC | &nbsp;&nbsp;17058 | &nbsp;&nbsp;&nbsp;&nbsp;230553 |
| Arab National Bank | &nbsp;&nbsp;31564 | &nbsp;&nbsp;&nbsp;&nbsp;182782 |
| Arabian Internet & Communications Services Company | &nbsp;&nbsp;&nbsp;&nbsp;812 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57663 |
| Bank AlBilad | &nbsp;&nbsp;26130 | &nbsp;&nbsp;&nbsp;&nbsp;183309 |
| Bank Al-Jazira (A) | &nbsp;&nbsp;22318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76459 |
| Banque Saudi Fransi | &nbsp;&nbsp;42947 | &nbsp;&nbsp;&nbsp;&nbsp;204483 |
| Bupa Arabia for Cooperative Insurance Company | &nbsp;&nbsp;&nbsp;2820 | &nbsp;&nbsp;&nbsp;&nbsp;133894 |
| Dallah Healthcare Company | &nbsp;&nbsp;&nbsp;1169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40702 |
| Dar Al Arkan Real Estate Development Company (A) | &nbsp;&nbsp;18814 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96371 |
| Dr Sulaiman Al Habib Medical Services Group Company | &nbsp;&nbsp;&nbsp;2961 | &nbsp;&nbsp;&nbsp;&nbsp;214068 |
| Elm Company | &nbsp;&nbsp;&nbsp;&nbsp;856 | &nbsp;&nbsp;&nbsp;&nbsp;228559 |
| Etihad Etisalat Company | &nbsp;&nbsp;13413 | &nbsp;&nbsp;&nbsp;&nbsp;212140 |
| Jabal Omar Development Company (A) | &nbsp;&nbsp;20618 | &nbsp;&nbsp;&nbsp;&nbsp;110847 |
| Jarir Marketing Company | &nbsp;&nbsp;20900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69867 |
| Makkah Construction & Development Company | &nbsp;&nbsp;&nbsp;3494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85895 |
| Mouwasat Medical Services Company | &nbsp;&nbsp;&nbsp;3348 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67364 |
| Nahdi Medical Company | &nbsp;&nbsp;&nbsp;1333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45392 |
| Riyad Bank | &nbsp;&nbsp;53160 | &nbsp;&nbsp;&nbsp;&nbsp;407236 |
| SABIC Agri-Nutrients Company | &nbsp;&nbsp;&nbsp;7973 | &nbsp;&nbsp;&nbsp;&nbsp;227972 |
| Sahara International Petrochemical Company | &nbsp;&nbsp;12775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67531 |
| SAL Saudi Logistics Services | &nbsp;&nbsp;&nbsp;1284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64277 |
| Saudi Arabian Mining Company (A) | &nbsp;&nbsp;47527 | &nbsp;&nbsp;&nbsp;&nbsp;678713 |
| Saudi Arabian Oil Company (B) | 215731 | &nbsp;&nbsp;&nbsp;1398782 |
| Saudi Aramco Base Oil Company | &nbsp;&nbsp;&nbsp;1730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47150 |
| Saudi Awwal Bank | &nbsp;&nbsp;35311 | &nbsp;&nbsp;&nbsp;&nbsp;317192 |
| Saudi Basic Industries Corp. | &nbsp;&nbsp;31563 | &nbsp;&nbsp;&nbsp;&nbsp;459892 |
| Saudi Electricity Company | &nbsp;&nbsp;29505 | &nbsp;&nbsp;&nbsp;&nbsp;115578 |
| Saudi Industrial Investment Group | &nbsp;&nbsp;11467 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51303 |
| Saudi Kayan Petrochemical Company (A) | &nbsp;&nbsp;26130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36019 |
| Saudi Research & Media Group (A) | &nbsp;&nbsp;&nbsp;1230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63397 |
| Saudi Tadawul Group Holding Company | &nbsp;&nbsp;&nbsp;1623 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76365 |
| Saudi Telecom Company | &nbsp;&nbsp;71316 | &nbsp;&nbsp;&nbsp;&nbsp;808970 |
| The Company for Cooperative Insurance | &nbsp;&nbsp;&nbsp;2532 | &nbsp;&nbsp;&nbsp;&nbsp;106672 |
| The Saudi Investment Bank | &nbsp;&nbsp;20926 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81012 |
| The Saudi National Bank | 104835 | &nbsp;&nbsp;&nbsp;1009411 |
| Yanbu National Petrochemical Company | &nbsp;&nbsp;&nbsp;9666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77878 |
|  |  | 10851073 |
| **Singapore - 1.2%** |  |  |
| BOC Aviation, Ltd. (B) | &nbsp;&nbsp;&nbsp;7400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61357 |
| CapitaLand Ascendas REIT | 128702 | &nbsp;&nbsp;&nbsp;&nbsp;271581 |
| CapitaLand Integrated Commercial Trust | 212140 | &nbsp;&nbsp;&nbsp;&nbsp;362245 |
| CapitaLand Investment, Ltd. | &nbsp;&nbsp;78802 | &nbsp;&nbsp;&nbsp;&nbsp;164275 |
| DBS Group Holdings, Ltd. | &nbsp;&nbsp;75989 | &nbsp;&nbsp;&nbsp;2682568 |
| Genting Singapore, Ltd. | 226200 | &nbsp;&nbsp;&nbsp;&nbsp;127224 |
| Grab Holdings, Ltd., Class A (A) | &nbsp;&nbsp;82400 | &nbsp;&nbsp;&nbsp;&nbsp;414472 |
| Keppel, Ltd. | &nbsp;&nbsp;51969 | &nbsp;&nbsp;&nbsp;&nbsp;303477 |
| Oversea-Chinese Banking Corp., Ltd. | 120702 | &nbsp;&nbsp;&nbsp;1547800 |
| Sea, Ltd., ADR (A) | &nbsp;&nbsp;13600 | &nbsp;&nbsp;&nbsp;2175184 |
| Sembcorp Industries, Ltd. | &nbsp;&nbsp;30200 | &nbsp;&nbsp;&nbsp;&nbsp;162690 |
| Singapore Airlines, Ltd. | &nbsp;&nbsp;51250 | &nbsp;&nbsp;&nbsp;&nbsp;281094 |
| Singapore Exchange, Ltd. | &nbsp;&nbsp;30900 | &nbsp;&nbsp;&nbsp;&nbsp;361815 |
| Singapore Technologies Engineering, Ltd. | &nbsp;&nbsp;56800 | &nbsp;&nbsp;&nbsp;&nbsp;348280 |
| Singapore Telecommunications, Ltd. | 265040 | &nbsp;&nbsp;&nbsp;&nbsp;799039 |
| Trip.com Group, Ltd. | &nbsp;&nbsp;22150 | &nbsp;&nbsp;&nbsp;1297203 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Singapore (continued)** |  |  |
| United Overseas Bank, Ltd. | &nbsp;&nbsp;45008 | $&nbsp;&nbsp;&nbsp;1273893 |
| Wilmar International, Ltd. | &nbsp;&nbsp;72000 | &nbsp;&nbsp;&nbsp;&nbsp;162524 |
|  |  | 12796721 |
| **South Africa - 0.8%** |  |  |
| Absa Group, Ltd. | &nbsp;&nbsp;29798 | &nbsp;&nbsp;&nbsp;&nbsp;296592 |
| Aspen Pharmacare Holdings, Ltd. | &nbsp;&nbsp;13036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88051 |
| Bid Corp., Ltd. | &nbsp;&nbsp;11763 | &nbsp;&nbsp;&nbsp;&nbsp;310593 |
| Capitec Bank Holdings, Ltd. | &nbsp;&nbsp;&nbsp;3067 | &nbsp;&nbsp;&nbsp;&nbsp;613234 |
| Clicks Group, Ltd. | &nbsp;&nbsp;&nbsp;8355 | &nbsp;&nbsp;&nbsp;&nbsp;174951 |
| Discovery, Ltd. | &nbsp;&nbsp;18977 | &nbsp;&nbsp;&nbsp;&nbsp;230693 |
| FirstRand, Ltd. | 180021 | &nbsp;&nbsp;&nbsp;&nbsp;769561 |
| Gold Fields, Ltd. | &nbsp;&nbsp;32013 | &nbsp;&nbsp;&nbsp;&nbsp;758058 |
| Harmony Gold Mining Company, Ltd. | &nbsp;&nbsp;20728 | &nbsp;&nbsp;&nbsp;&nbsp;288408 |
| Impala Platinum Holdings, Ltd. (A) | &nbsp;&nbsp;31717 | &nbsp;&nbsp;&nbsp;&nbsp;284985 |
| Kumba Iron Ore, Ltd. | &nbsp;&nbsp;&nbsp;2164 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34855 |
| MTN Group, Ltd. | &nbsp;&nbsp;59164 | &nbsp;&nbsp;&nbsp;&nbsp;470959 |
| Naspers, Ltd., N Shares | &nbsp;&nbsp;&nbsp;6020 | &nbsp;&nbsp;&nbsp;1878321 |
| Nedbank Group, Ltd. | &nbsp;&nbsp;16333 | &nbsp;&nbsp;&nbsp;&nbsp;223812 |
| Old Mutual, Ltd. | 182601 | &nbsp;&nbsp;&nbsp;&nbsp;123827 |
| OUTsurance Group, Ltd. | &nbsp;&nbsp;28715 | &nbsp;&nbsp;&nbsp;&nbsp;127207 |
| Pepkor Holdings, Ltd. (B) | &nbsp;&nbsp;90917 | &nbsp;&nbsp;&nbsp;&nbsp;139964 |
| Remgro, Ltd. | &nbsp;&nbsp;17781 | &nbsp;&nbsp;&nbsp;&nbsp;159130 |
| Sanlam, Ltd. | &nbsp;&nbsp;65358 | &nbsp;&nbsp;&nbsp;&nbsp;327421 |
| Sasol, Ltd. (A) | &nbsp;&nbsp;19396 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86367 |
| Shoprite Holdings, Ltd. | &nbsp;&nbsp;17628 | &nbsp;&nbsp;&nbsp;&nbsp;276073 |
| Standard Bank Group, Ltd. | &nbsp;&nbsp;46185 | &nbsp;&nbsp;&nbsp;&nbsp;592998 |
| The Bidvest Group, Ltd. | &nbsp;&nbsp;11986 | &nbsp;&nbsp;&nbsp;&nbsp;158503 |
| Valterra Platinum, Ltd. | &nbsp;&nbsp;&nbsp;3518 | &nbsp;&nbsp;&nbsp;&nbsp;156646 |
| Valterra Platinum, Ltd. (London Stock Exchange) (A) | &nbsp;&nbsp;&nbsp;4636 | &nbsp;&nbsp;&nbsp;&nbsp;203635 |
| Vodacom Group, Ltd. | &nbsp;&nbsp;21952 | &nbsp;&nbsp;&nbsp;&nbsp;170093 |
| Woolworths Holdings, Ltd. | &nbsp;&nbsp;33746 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98674 |
|  |  | &nbsp;&nbsp;&nbsp;9043611 |
| **South Korea - 3.0%** |  |  |
| Alteogen, Inc. (A) | &nbsp;&nbsp;&nbsp;1400 | &nbsp;&nbsp;&nbsp;&nbsp;385739 |
| Amorepacific Corp. | &nbsp;&nbsp;&nbsp;&nbsp;975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98607 |
| Celltrion, Inc. | &nbsp;&nbsp;&nbsp;5843 | &nbsp;&nbsp;&nbsp;&nbsp;689441 |
| CJ CheilJedang Corp. | &nbsp;&nbsp;&nbsp;&nbsp;287 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52805 |
| Coway Company, Ltd. | &nbsp;&nbsp;&nbsp;1819 | &nbsp;&nbsp;&nbsp;&nbsp;129983 |
| DB Insurance Company, Ltd. | &nbsp;&nbsp;&nbsp;1585 | &nbsp;&nbsp;&nbsp;&nbsp;144635 |
| Doosan Bobcat, Inc. (A) | &nbsp;&nbsp;&nbsp;1900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81669 |
| Doosan Enerbility Company, Ltd. (A) | &nbsp;&nbsp;15989 | &nbsp;&nbsp;&nbsp;&nbsp;810052 |
| Ecopro BM Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;1656 | &nbsp;&nbsp;&nbsp;&nbsp;122969 |
| Ecopro Company, Ltd. | &nbsp;&nbsp;&nbsp;3437 | &nbsp;&nbsp;&nbsp;&nbsp;114537 |
| Hana Financial Group, Inc. | &nbsp;&nbsp;10253 | &nbsp;&nbsp;&nbsp;&nbsp;653095 |
| Hanjin Kal Corp. | &nbsp;&nbsp;&nbsp;&nbsp;920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80017 |
| Hankook Tire & Technology Company, Ltd. | &nbsp;&nbsp;&nbsp;2561 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75240 |
| Hanmi Semiconductor Company, Ltd. | &nbsp;&nbsp;&nbsp;1497 | &nbsp;&nbsp;&nbsp;&nbsp;112425 |
| Hanwha Aerospace Company, Ltd. | &nbsp;&nbsp;&nbsp;1139 | &nbsp;&nbsp;&nbsp;&nbsp;714753 |
| Hanwha Ocean Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;3771 | &nbsp;&nbsp;&nbsp;&nbsp;220890 |
| Hanwha Systems Company, Ltd. | &nbsp;&nbsp;&nbsp;2695 | &nbsp;&nbsp;&nbsp;&nbsp;115610 |
| HD Hyundai Company, Ltd. | &nbsp;&nbsp;&nbsp;1555 | &nbsp;&nbsp;&nbsp;&nbsp;148998 |
| HD Hyundai Electric Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;867 | &nbsp;&nbsp;&nbsp;&nbsp;325027 |
| HD Hyundai Heavy Industries Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;768 | &nbsp;&nbsp;&nbsp;&nbsp;242408 |
| HD Korea Shipbuilding & Offshore Engineering Company, Ltd. | &nbsp;&nbsp;&nbsp;1463 | &nbsp;&nbsp;&nbsp;&nbsp;395070 |
| HLB, Inc. (A) | &nbsp;&nbsp;&nbsp;4042 | &nbsp;&nbsp;&nbsp;&nbsp;146469 |
| HMM Company, Ltd. | &nbsp;&nbsp;&nbsp;9425 | &nbsp;&nbsp;&nbsp;&nbsp;157145 |
| HYBE Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;858 | &nbsp;&nbsp;&nbsp;&nbsp;196169 |
| Hyundai Glovis Company, Ltd. | &nbsp;&nbsp;&nbsp;1298 | &nbsp;&nbsp;&nbsp;&nbsp;129230 |
| Hyundai Mobis Company, Ltd. | &nbsp;&nbsp;&nbsp;2188 | &nbsp;&nbsp;&nbsp;&nbsp;464180 |
| Hyundai Motor Company | &nbsp;&nbsp;&nbsp;4858 | &nbsp;&nbsp;&nbsp;&nbsp;729465 |
| Hyundai Rotem Company, Ltd. | &nbsp;&nbsp;&nbsp;2681 | &nbsp;&nbsp;&nbsp;&nbsp;389055 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 43 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### International Equity Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **South Korea (continued)** |  |  |
| Industrial Bank of Korea | &nbsp;&nbsp;&nbsp;9540 | $&nbsp;&nbsp;&nbsp;&nbsp;128848 |
| Kakao Corp. | &nbsp;&nbsp;10776 | &nbsp;&nbsp;&nbsp;&nbsp;478005 |
| KakaoBank Corp. | &nbsp;&nbsp;&nbsp;5704 | &nbsp;&nbsp;&nbsp;&nbsp;126403 |
| KB Financial Group, Inc. | &nbsp;&nbsp;13290 | &nbsp;&nbsp;&nbsp;1092123 |
| Kia Corp. | &nbsp;&nbsp;&nbsp;8406 | &nbsp;&nbsp;&nbsp;&nbsp;601486 |
| Korea Aerospace Industries, Ltd. | &nbsp;&nbsp;&nbsp;2519 | &nbsp;&nbsp;&nbsp;&nbsp;167282 |
| Korea Electric Power Corp. | &nbsp;&nbsp;&nbsp;7018 | &nbsp;&nbsp;&nbsp;&nbsp;202801 |
| Korea Electric Power Corp., ADR | &nbsp;&nbsp;&nbsp;4277 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60904 |
| Korea Investment Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;1446 | &nbsp;&nbsp;&nbsp;&nbsp;149218 |
| Korea Zinc Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;182 | &nbsp;&nbsp;&nbsp;&nbsp;110103 |
| Korean Air Lines Company, Ltd. | &nbsp;&nbsp;&nbsp;6728 | &nbsp;&nbsp;&nbsp;&nbsp;113657 |
| Krafton, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;992 | &nbsp;&nbsp;&nbsp;&nbsp;266341 |
| KT&G Corp. | &nbsp;&nbsp;&nbsp;3672 | &nbsp;&nbsp;&nbsp;&nbsp;346587 |
| LG Chem, Ltd. | &nbsp;&nbsp;&nbsp;1733 | &nbsp;&nbsp;&nbsp;&nbsp;270660 |
| LG Corp. | &nbsp;&nbsp;&nbsp;3251 | &nbsp;&nbsp;&nbsp;&nbsp;191277 |
| LG Display Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;9494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62969 |
| LG Display Company, Ltd., ADR (A) | &nbsp;&nbsp;&nbsp;2454 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8393 |
| LG Electronics, Inc. | &nbsp;&nbsp;&nbsp;3973 | &nbsp;&nbsp;&nbsp;&nbsp;216668 |
| LG Energy Solution, Ltd. (A) | &nbsp;&nbsp;&nbsp;1620 | &nbsp;&nbsp;&nbsp;&nbsp;355660 |
| LG H&H Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84577 |
| LG Innotek Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62606 |
| LG Uplus Corp. | &nbsp;&nbsp;&nbsp;9062 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95940 |
| LS Electric Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;526 | &nbsp;&nbsp;&nbsp;&nbsp;116270 |
| Meritz Financial Group, Inc. | &nbsp;&nbsp;&nbsp;3559 | &nbsp;&nbsp;&nbsp;&nbsp;296068 |
| Mirae Asset Securities Company, Ltd. | &nbsp;&nbsp;&nbsp;7084 | &nbsp;&nbsp;&nbsp;&nbsp;112279 |
| NAVER Corp. | &nbsp;&nbsp;&nbsp;5085 | &nbsp;&nbsp;&nbsp;&nbsp;987430 |
| NH Investment & Securities Company, Ltd. | &nbsp;&nbsp;&nbsp;5165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76380 |
| Orion Corp. | &nbsp;&nbsp;&nbsp;&nbsp;821 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66061 |
| POSCO Future M Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;1059 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98839 |
| POSCO Holdings, Inc. | &nbsp;&nbsp;&nbsp;2532 | &nbsp;&nbsp;&nbsp;&nbsp;487779 |
| Posco International Corp. | &nbsp;&nbsp;&nbsp;1782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65418 |
| Samsung Biologics Company, Ltd. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;634 | &nbsp;&nbsp;&nbsp;&nbsp;465240 |
| Samsung C&T Corp. | &nbsp;&nbsp;&nbsp;3239 | &nbsp;&nbsp;&nbsp;&nbsp;386034 |
| Samsung Electro-Mechanics Company, Ltd. | &nbsp;&nbsp;&nbsp;1973 | &nbsp;&nbsp;&nbsp;&nbsp;196029 |
| Samsung Electronics Company, Ltd. | 168789 | &nbsp;&nbsp;&nbsp;7464120 |
| Samsung Fire & Marine Insurance Company, Ltd. | &nbsp;&nbsp;&nbsp;1085 | &nbsp;&nbsp;&nbsp;&nbsp;347892 |
| Samsung Heavy Industries Company, Ltd. (A) | &nbsp;&nbsp;25103 | &nbsp;&nbsp;&nbsp;&nbsp;310422 |
| Samsung Life Insurance Company, Ltd. | &nbsp;&nbsp;&nbsp;2756 | &nbsp;&nbsp;&nbsp;&nbsp;259520 |
| Samsung SDI Company, Ltd. | &nbsp;&nbsp;&nbsp;2173 | &nbsp;&nbsp;&nbsp;&nbsp;277450 |
| Samsung SDS Company, Ltd. | &nbsp;&nbsp;&nbsp;1499 | &nbsp;&nbsp;&nbsp;&nbsp;187892 |
| Samyang Foods Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;148 | &nbsp;&nbsp;&nbsp;&nbsp;152799 |
| Shinhan Financial Group Company, Ltd. | &nbsp;&nbsp;14733 | &nbsp;&nbsp;&nbsp;&nbsp;667947 |
| Shinhan Financial Group Company, Ltd., ADR | &nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15813 |
| SK Biopharmaceuticals Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;1071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72935 |
| SK Hynix, Inc. | &nbsp;&nbsp;19469 | &nbsp;&nbsp;&nbsp;4195210 |
| SK Innovation Company, Ltd. | &nbsp;&nbsp;&nbsp;2538 | &nbsp;&nbsp;&nbsp;&nbsp;230058 |
| SK Square Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;3395 | &nbsp;&nbsp;&nbsp;&nbsp;456319 |
| SK Telecom Company, Ltd. | &nbsp;&nbsp;&nbsp;1870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78678 |
| SK, Inc. | &nbsp;&nbsp;&nbsp;1269 | &nbsp;&nbsp;&nbsp;&nbsp;191678 |
| SKC Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;859 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69894 |
| S-Oil Corp. | &nbsp;&nbsp;&nbsp;1876 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83182 |
| Woori Financial Group, Inc. | &nbsp;&nbsp;22973 | &nbsp;&nbsp;&nbsp;&nbsp;382253 |
| Yuhan Corp. | &nbsp;&nbsp;&nbsp;1941 | &nbsp;&nbsp;&nbsp;&nbsp;149497 |
|  |  | 32065577 |
| **Spain - 2.0%** |  |  |
| Acciona SA | &nbsp;&nbsp;&nbsp;&nbsp;843 | &nbsp;&nbsp;&nbsp;&nbsp;152048 |
| ACS Actividades de Construccion y Servicios SA | &nbsp;&nbsp;&nbsp;6496 | &nbsp;&nbsp;&nbsp;&nbsp;451523 |
| Aena SME SA (A)(B) | &nbsp;&nbsp;26740 | &nbsp;&nbsp;&nbsp;&nbsp;713793 |
| Amadeus IT Group SA | &nbsp;&nbsp;16064 | &nbsp;&nbsp;&nbsp;1357139 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Spain (continued)** |  |  |
| Banco Bilbao Vizcaya Argentaria SA | 205508 | $&nbsp;&nbsp;&nbsp;3164476 |
| Banco de Sabadell SA | 191623 | &nbsp;&nbsp;&nbsp;&nbsp;610043 |
| Banco Santander SA | 517453 | &nbsp;&nbsp;&nbsp;4284975 |
| Banco Santander SA (Mexican Stock Exchange) (A) | &nbsp;&nbsp;22856 | &nbsp;&nbsp;&nbsp;&nbsp;185752 |
| Bankinter SA | &nbsp;&nbsp;24039 | &nbsp;&nbsp;&nbsp;&nbsp;313817 |
| CaixaBank SA | 140517 | &nbsp;&nbsp;&nbsp;1217557 |
| Cellnex Telecom SA (A)(B) | &nbsp;&nbsp;18445 | &nbsp;&nbsp;&nbsp;&nbsp;718218 |
| EDP Renovaveis SA | &nbsp;&nbsp;11064 | &nbsp;&nbsp;&nbsp;&nbsp;123803 |
| Endesa SA | &nbsp;&nbsp;11538 | &nbsp;&nbsp;&nbsp;&nbsp;365580 |
| Grifols SA (A) | &nbsp;&nbsp;11763 | &nbsp;&nbsp;&nbsp;&nbsp;143532 |
| Iberdrola SA | 206692 | &nbsp;&nbsp;&nbsp;3976357 |
| Industria de Diseno Textil SA | &nbsp;&nbsp;38897 | &nbsp;&nbsp;&nbsp;2029135 |
| Redeia Corp. SA | &nbsp;&nbsp;14812 | &nbsp;&nbsp;&nbsp;&nbsp;316944 |
| Repsol SA | &nbsp;&nbsp;40430 | &nbsp;&nbsp;&nbsp;&nbsp;591347 |
| Telefonica SA | 139075 | &nbsp;&nbsp;&nbsp;&nbsp;731965 |
|  |  | 21448004 |
| **Sweden - 2.3%** |  |  |
| AddTech AB, B Shares | &nbsp;&nbsp;&nbsp;9107 | &nbsp;&nbsp;&nbsp;&nbsp;310472 |
| Alfa Laval AB | &nbsp;&nbsp;10147 | &nbsp;&nbsp;&nbsp;&nbsp;427377 |
| Assa Abloy AB, B Shares | &nbsp;&nbsp;35740 | &nbsp;&nbsp;&nbsp;1117362 |
| Atlas Copco AB, A Shares | &nbsp;&nbsp;95780 | &nbsp;&nbsp;&nbsp;1548380 |
| Atlas Copco AB, B Shares | &nbsp;&nbsp;55658 | &nbsp;&nbsp;&nbsp;&nbsp;792157 |
| Beijer Ref AB | &nbsp;&nbsp;13260 | &nbsp;&nbsp;&nbsp;&nbsp;209256 |
| Boliden AB (A) | &nbsp;&nbsp;10135 | &nbsp;&nbsp;&nbsp;&nbsp;316713 |
| Epiroc AB, A Shares | &nbsp;&nbsp;23702 | &nbsp;&nbsp;&nbsp;&nbsp;515752 |
| Epiroc AB, B Shares | &nbsp;&nbsp;13906 | &nbsp;&nbsp;&nbsp;&nbsp;266613 |
| EQT AB | &nbsp;&nbsp;13277 | &nbsp;&nbsp;&nbsp;&nbsp;445390 |
| Essity AB, B Shares | &nbsp;&nbsp;21462 | &nbsp;&nbsp;&nbsp;&nbsp;594258 |
| Evolution AB (B) | &nbsp;&nbsp;&nbsp;5948 | &nbsp;&nbsp;&nbsp;&nbsp;472408 |
| Fastighets AB Balder, B Shares (A) | &nbsp;&nbsp;24258 | &nbsp;&nbsp;&nbsp;&nbsp;180826 |
| Hennes & Mauritz AB, B Shares | &nbsp;&nbsp;20222 | &nbsp;&nbsp;&nbsp;&nbsp;284809 |
| Hexagon AB, B Shares | &nbsp;&nbsp;74033 | &nbsp;&nbsp;&nbsp;&nbsp;746223 |
| Holmen AB, B Shares | &nbsp;&nbsp;&nbsp;2519 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99783 |
| Industrivarden AB, A Shares | &nbsp;&nbsp;&nbsp;4345 | &nbsp;&nbsp;&nbsp;&nbsp;157956 |
| Industrivarden AB, C Shares | &nbsp;&nbsp;&nbsp;5545 | &nbsp;&nbsp;&nbsp;&nbsp;200794 |
| Indutrade AB | &nbsp;&nbsp;&nbsp;9332 | &nbsp;&nbsp;&nbsp;&nbsp;254811 |
| Investment AB Latour, B Shares | &nbsp;&nbsp;&nbsp;5009 | &nbsp;&nbsp;&nbsp;&nbsp;132114 |
| Investor AB, B Shares | &nbsp;&nbsp;61718 | &nbsp;&nbsp;&nbsp;1828913 |
| L.E. Lundbergforetagen AB, B Shares | &nbsp;&nbsp;&nbsp;2535 | &nbsp;&nbsp;&nbsp;&nbsp;126541 |
| Lifco AB, B Shares | &nbsp;&nbsp;&nbsp;8478 | &nbsp;&nbsp;&nbsp;&nbsp;343586 |
| Nibe Industrier AB, B Shares | &nbsp;&nbsp;51776 | &nbsp;&nbsp;&nbsp;&nbsp;221066 |
| Saab AB, B Shares | &nbsp;&nbsp;11464 | &nbsp;&nbsp;&nbsp;&nbsp;640990 |
| Sagax AB, B Shares | &nbsp;&nbsp;&nbsp;7738 | &nbsp;&nbsp;&nbsp;&nbsp;177310 |
| Sandvik AB | &nbsp;&nbsp;38020 | &nbsp;&nbsp;&nbsp;&nbsp;873028 |
| Securitas AB, B Shares | &nbsp;&nbsp;17323 | &nbsp;&nbsp;&nbsp;&nbsp;259366 |
| Skandinaviska Enskilda Banken AB, A Shares | &nbsp;&nbsp;55895 | &nbsp;&nbsp;&nbsp;&nbsp;974279 |
| Skanska AB, B Shares | &nbsp;&nbsp;12135 | &nbsp;&nbsp;&nbsp;&nbsp;282680 |
| SKF AB, B Shares | &nbsp;&nbsp;12164 | &nbsp;&nbsp;&nbsp;&nbsp;279411 |
| Spotify Technology SA (A) | &nbsp;&nbsp;&nbsp;5500 | &nbsp;&nbsp;&nbsp;4220370 |
| Svenska Cellulosa AB SCA, B Shares | &nbsp;&nbsp;20883 | &nbsp;&nbsp;&nbsp;&nbsp;271537 |
| Svenska Handelsbanken AB, A Shares | &nbsp;&nbsp;52019 | &nbsp;&nbsp;&nbsp;&nbsp;696393 |
| Swedbank AB, A Shares | &nbsp;&nbsp;30274 | &nbsp;&nbsp;&nbsp;&nbsp;801847 |
| Swedish Orphan Biovitrum AB (A) | &nbsp;&nbsp;&nbsp;6982 | &nbsp;&nbsp;&nbsp;&nbsp;212498 |
| Tele2 AB, B Shares | &nbsp;&nbsp;18899 | &nbsp;&nbsp;&nbsp;&nbsp;275877 |
| Telefonaktiebolaget LM Ericsson, B Shares | &nbsp;&nbsp;98813 | &nbsp;&nbsp;&nbsp;&nbsp;844389 |
| Telia Company AB | &nbsp;&nbsp;85858 | &nbsp;&nbsp;&nbsp;&nbsp;308816 |
| Trelleborg AB, B Shares | &nbsp;&nbsp;&nbsp;7583 | &nbsp;&nbsp;&nbsp;&nbsp;282475 |
| Volvo AB, B Shares | &nbsp;&nbsp;56642 | &nbsp;&nbsp;&nbsp;1593770 |
|  |  | 24588596 |
| **Switzerland - 6.2%** |  |  |
| ABB, Ltd. | &nbsp;&nbsp;56394 | &nbsp;&nbsp;&nbsp;3379626 |
| Alcon, Inc. | &nbsp;&nbsp;17818 | &nbsp;&nbsp;&nbsp;1580152 |
| Avolta AG (A) | &nbsp;&nbsp;&nbsp;3335 | &nbsp;&nbsp;&nbsp;&nbsp;181661 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 44 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### International Equity Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Switzerland (continued)** |  |  |
| Baloise Holding AG | &nbsp;&nbsp;&nbsp;1556 | $&nbsp;&nbsp;&nbsp;&nbsp;366986 |
| Banque Cantonale Vaudoise | &nbsp;&nbsp;&nbsp;1029 | &nbsp;&nbsp;&nbsp;&nbsp;118677 |
| Barry Callebaut AG | &nbsp;&nbsp;&nbsp;&nbsp;136 | &nbsp;&nbsp;&nbsp;&nbsp;148657 |
| BKW AG | &nbsp;&nbsp;&nbsp;&nbsp;721 | &nbsp;&nbsp;&nbsp;&nbsp;158079 |
| Chocoladefabriken Lindt & Spruengli AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp;666902 |
| Chocoladefabriken Lindt & Spruengli AG, Participation Certificates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34 | &nbsp;&nbsp;&nbsp;&nbsp;573022 |
| Cie Financiere Richemont SA, A Shares | &nbsp;&nbsp;19169 | &nbsp;&nbsp;&nbsp;3627403 |
| Coca-Cola HBC AG (A) | &nbsp;&nbsp;&nbsp;7861 | &nbsp;&nbsp;&nbsp;&nbsp;410678 |
| DSM-Firmenich AG | &nbsp;&nbsp;&nbsp;6631 | &nbsp;&nbsp;&nbsp;&nbsp;705442 |
| EMS-Chemie Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;241 | &nbsp;&nbsp;&nbsp;&nbsp;182197 |
| Galderma Group AG | &nbsp;&nbsp;&nbsp;3764 | &nbsp;&nbsp;&nbsp;&nbsp;547119 |
| Geberit AG | &nbsp;&nbsp;&nbsp;1194 | &nbsp;&nbsp;&nbsp;&nbsp;940328 |
| Givaudan SA | &nbsp;&nbsp;&nbsp;&nbsp;329 | &nbsp;&nbsp;&nbsp;1595494 |
| Glencore PLC (A) | 367527 | &nbsp;&nbsp;&nbsp;1432117 |
| Helvetia Holding AG | &nbsp;&nbsp;&nbsp;1353 | &nbsp;&nbsp;&nbsp;&nbsp;317652 |
| Holcim, Ltd. (A) | &nbsp;&nbsp;18585 | &nbsp;&nbsp;&nbsp;1380106 |
| Julius Baer Group, Ltd. | &nbsp;&nbsp;&nbsp;7301 | &nbsp;&nbsp;&nbsp;&nbsp;495262 |
| Kuehne + Nagel International AG | &nbsp;&nbsp;&nbsp;1701 | &nbsp;&nbsp;&nbsp;&nbsp;368339 |
| Logitech International SA | &nbsp;&nbsp;&nbsp;5338 | &nbsp;&nbsp;&nbsp;&nbsp;484074 |
| Lonza Group AG | &nbsp;&nbsp;&nbsp;2563 | &nbsp;&nbsp;&nbsp;1832964 |
| Nestle SA | &nbsp;&nbsp;93424 | &nbsp;&nbsp;&nbsp;9288770 |
| Novartis AG | &nbsp;&nbsp;69639 | &nbsp;&nbsp;&nbsp;8452580 |
| Partners Group Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;809 | &nbsp;&nbsp;&nbsp;1058436 |
| Roche Holding AG | &nbsp;&nbsp;25052 | &nbsp;&nbsp;&nbsp;8177465 |
| Roche Holding AG, Bearer Shares | &nbsp;&nbsp;&nbsp;1158 | &nbsp;&nbsp;&nbsp;&nbsp;402441 |
| Sandoz Group AG | &nbsp;&nbsp;14915 | &nbsp;&nbsp;&nbsp;&nbsp;817392 |
| Schindler Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;806 | &nbsp;&nbsp;&nbsp;&nbsp;292809 |
| Schindler Holding AG, Participation Certificates | &nbsp;&nbsp;&nbsp;1428 | &nbsp;&nbsp;&nbsp;&nbsp;531744 |
| SGS SA | &nbsp;&nbsp;&nbsp;5744 | &nbsp;&nbsp;&nbsp;&nbsp;583221 |
| SIG Group AG (A) | &nbsp;&nbsp;10451 | &nbsp;&nbsp;&nbsp;&nbsp;193313 |
| Sika AG | &nbsp;&nbsp;&nbsp;5436 | &nbsp;&nbsp;&nbsp;1479047 |
| Sonova Holding AG | &nbsp;&nbsp;&nbsp;1821 | &nbsp;&nbsp;&nbsp;&nbsp;543068 |
| STMicroelectronics NV | &nbsp;&nbsp;23723 | &nbsp;&nbsp;&nbsp;&nbsp;727396 |
| Straumann Holding AG | &nbsp;&nbsp;&nbsp;3915 | &nbsp;&nbsp;&nbsp;&nbsp;512433 |
| Swiss Life Holding AG | &nbsp;&nbsp;&nbsp;1024 | &nbsp;&nbsp;&nbsp;1036660 |
| Swiss Prime Site AG | &nbsp;&nbsp;&nbsp;2861 | &nbsp;&nbsp;&nbsp;&nbsp;429505 |
| Swiss Re AG | &nbsp;&nbsp;10755 | &nbsp;&nbsp;&nbsp;1860476 |
| Swisscom AG | &nbsp;&nbsp;&nbsp;&nbsp;908 | &nbsp;&nbsp;&nbsp;&nbsp;644760 |
| Temenos AG | &nbsp;&nbsp;&nbsp;1979 | &nbsp;&nbsp;&nbsp;&nbsp;142162 |
| The Swatch Group AG, Bearer Shares | &nbsp;&nbsp;&nbsp;&nbsp;986 | &nbsp;&nbsp;&nbsp;&nbsp;160975 |
| UBS Group AG | 117279 | &nbsp;&nbsp;&nbsp;3981826 |
| VAT Group AG (B) | &nbsp;&nbsp;&nbsp;&nbsp;947 | &nbsp;&nbsp;&nbsp;&nbsp;401274 |
| Zurich Insurance Group AG | &nbsp;&nbsp;&nbsp;5219 | &nbsp;&nbsp;&nbsp;3651853 |
|  |  | 66862543 |
| **Taiwan - 5.5%** |  |  |
| Accton Technology Corp. | &nbsp;&nbsp;18000 | &nbsp;&nbsp;&nbsp;&nbsp;449888 |
| Acer, Inc. | &nbsp;&nbsp;99018 | &nbsp;&nbsp;&nbsp;&nbsp;102608 |
| Advantech Company, Ltd. | &nbsp;&nbsp;16623 | &nbsp;&nbsp;&nbsp;&nbsp;192846 |
| Airtac International Group | &nbsp;&nbsp;&nbsp;5185 | &nbsp;&nbsp;&nbsp;&nbsp;154373 |
| Alchip Technologies, Ltd. | &nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;318096 |
| ASE Technology Holding Company, Ltd. | 118338 | &nbsp;&nbsp;&nbsp;&nbsp;593675 |
| Asia Cement Corp. | &nbsp;&nbsp;79863 | &nbsp;&nbsp;&nbsp;&nbsp;116585 |
| Asia Vital Components Company, Ltd. | &nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;306509 |
| Asustek Computer, Inc. | &nbsp;&nbsp;24952 | &nbsp;&nbsp;&nbsp;&nbsp;551623 |
| AUO Corp. (A) | 219061 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92590 |
| Catcher Technology Company, Ltd. | &nbsp;&nbsp;21184 | &nbsp;&nbsp;&nbsp;&nbsp;153823 |
| Cathay Financial Holding Company, Ltd. | 334373 | &nbsp;&nbsp;&nbsp;&nbsp;719752 |
| Chailease Holding Company, Ltd. | &nbsp;&nbsp;54966 | &nbsp;&nbsp;&nbsp;&nbsp;238070 |
| Chang Hwa Commercial Bank, Ltd. | 233851 | &nbsp;&nbsp;&nbsp;&nbsp;149697 |
| Cheng Shin Rubber Industry Company, Ltd. | &nbsp;&nbsp;66680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86252 |
| China Airlines, Ltd. | &nbsp;&nbsp;94000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69457 |
| China Steel Corp. | 408388 | &nbsp;&nbsp;&nbsp;&nbsp;262662 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Taiwan (continued)** |  |  |
| Chunghwa Telecom Company, Ltd. | 135148 | $&nbsp;&nbsp;&nbsp;&nbsp;625132 |
| Compal Electronics, Inc. | 139764 | &nbsp;&nbsp;&nbsp;&nbsp;139016 |
| CTBC Financial Holding Company, Ltd. | 595465 | &nbsp;&nbsp;&nbsp;&nbsp;891191 |
| Delta Electronics, Inc. | &nbsp;&nbsp;69866 | &nbsp;&nbsp;&nbsp;&nbsp;988670 |
| E Ink Holdings, Inc. | &nbsp;&nbsp;31000 | &nbsp;&nbsp;&nbsp;&nbsp;234634 |
| E.Sun Financial Holding Company, Ltd. | 512998 | &nbsp;&nbsp;&nbsp;&nbsp;576647 |
| Eclat Textile Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;6259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87939 |
| Elite Material Company, Ltd. | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;302387 |
| eMemory Technology, Inc. | &nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;161913 |
| Eva Airways Corp. | &nbsp;&nbsp;93000 | &nbsp;&nbsp;&nbsp;&nbsp;126939 |
| Evergreen Marine Corp. Taiwan, Ltd. | &nbsp;&nbsp;39826 | &nbsp;&nbsp;&nbsp;&nbsp;271202 |
| Far Eastern New Century Corp. | &nbsp;&nbsp;99875 | &nbsp;&nbsp;&nbsp;&nbsp;112492 |
| Far EasTone Telecommunications Company, Ltd. | &nbsp;&nbsp;61159 | &nbsp;&nbsp;&nbsp;&nbsp;187481 |
| Feng TAY Enterprise Company, Ltd. | &nbsp;&nbsp;19262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80874 |
| First Financial Holding Company, Ltd. | 388869 | &nbsp;&nbsp;&nbsp;&nbsp;386685 |
| Formosa Chemicals & Fibre Corp. | 121212 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95096 |
| Formosa Plastics Corp. | 154086 | &nbsp;&nbsp;&nbsp;&nbsp;183868 |
| Fortune Electric Company, Ltd. | &nbsp;&nbsp;&nbsp;4400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84787 |
| Fubon Financial Holding Company, Ltd. | 288641 | &nbsp;&nbsp;&nbsp;&nbsp;864379 |
| Gigabyte Technology Company, Ltd. | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;194344 |
| Global Unichip Corp. | &nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;134186 |
| Globalwafers Company, Ltd. | &nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92888 |
| Hon Hai Precision Industry Company, Ltd. | 445368 | &nbsp;&nbsp;&nbsp;2457245 |
| Hotai Motor Company, Ltd. | &nbsp;&nbsp;11200 | &nbsp;&nbsp;&nbsp;&nbsp;215827 |
| Hua Nan Financial Holdings Company, Ltd. | 310297 | &nbsp;&nbsp;&nbsp;&nbsp;288705 |
| Innolux Corp. | 261495 | &nbsp;&nbsp;&nbsp;&nbsp;104741 |
| International Games System Company, Ltd. | &nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;264202 |
| Inventec Corp. | &nbsp;&nbsp;89899 | &nbsp;&nbsp;&nbsp;&nbsp;130286 |
| Jentech Precision Industrial Company, Ltd. | &nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;155247 |
| KGI Financial Holding Company, Ltd. | 553133 | &nbsp;&nbsp;&nbsp;&nbsp;283723 |
| Largan Precision Company, Ltd. | &nbsp;&nbsp;&nbsp;4143 | &nbsp;&nbsp;&nbsp;&nbsp;338360 |
| Lite-On Technology Corp. | &nbsp;&nbsp;77626 | &nbsp;&nbsp;&nbsp;&nbsp;294267 |
| Lotes Company, Ltd. | &nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;138911 |
| MediaTek, Inc. | &nbsp;&nbsp;54340 | &nbsp;&nbsp;&nbsp;2328396 |
| Mega Financial Holding Company, Ltd. | 422973 | &nbsp;&nbsp;&nbsp;&nbsp;594010 |
| Micro-Star International Company, Ltd. | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;122913 |
| Nan Ya Plastics Corp. | 190992 | &nbsp;&nbsp;&nbsp;&nbsp;178442 |
| Nien Made Enterprise Company, Ltd. | &nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83646 |
| Novatek Microelectronics Corp. | &nbsp;&nbsp;20361 | &nbsp;&nbsp;&nbsp;&nbsp;379751 |
| Pegatron Corp. | &nbsp;&nbsp;69989 | &nbsp;&nbsp;&nbsp;&nbsp;184376 |
| PharmaEssentia Corp. (A) | &nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;168822 |
| Pou Chen Corp. | &nbsp;&nbsp;78641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83388 |
| President Chain Store Corp. | &nbsp;&nbsp;19496 | &nbsp;&nbsp;&nbsp;&nbsp;170980 |
| Quanta Computer, Inc. | &nbsp;&nbsp;96771 | &nbsp;&nbsp;&nbsp;&nbsp;910264 |
| Realtek Semiconductor Corp. | &nbsp;&nbsp;16999 | &nbsp;&nbsp;&nbsp;&nbsp;330137 |
| Ruentex Development Company, Ltd. | &nbsp;&nbsp;51840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52852 |
| Shin Kong Financial Holding Company, Ltd. (A) | 552956 | &nbsp;&nbsp;&nbsp;&nbsp;213904 |
| SinoPac Financial Holdings Company, Ltd. | 394253 | &nbsp;&nbsp;&nbsp;&nbsp;326536 |
| Synnex Technology International Corp. | &nbsp;&nbsp;41928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92404 |
| Taishin Financial Holding Company, Ltd. | 404076 | &nbsp;&nbsp;&nbsp;&nbsp;217962 |
| Taiwan Business Bank | 235202 | &nbsp;&nbsp;&nbsp;&nbsp;123595 |
| Taiwan Cooperative Financial Holding Company, Ltd. | 366659 | &nbsp;&nbsp;&nbsp;&nbsp;310464 |
| Taiwan High Speed Rail Corp. | &nbsp;&nbsp;66000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63812 |
| Taiwan Mobile Company, Ltd. | &nbsp;&nbsp;63257 | &nbsp;&nbsp;&nbsp;&nbsp;248920 |
| Taiwan Semiconductor Manufacturing Company, Ltd. | 878227 | 32116188 |
| TCC Group Holdings Company, Ltd. | 232594 | &nbsp;&nbsp;&nbsp;&nbsp;203027 |
| The Shanghai Commercial & Savings Bank, Ltd. | 133142 | &nbsp;&nbsp;&nbsp;&nbsp;211364 |
| Unimicron Technology Corp. | &nbsp;&nbsp;47000 | &nbsp;&nbsp;&nbsp;&nbsp;183436 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 45 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### International Equity Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Taiwan (continued)** |  |  |
| Uni-President Enterprises Corp. | 172487 | $&nbsp;&nbsp;&nbsp;&nbsp;478117 |
| United Microelectronics Corp. | 397313 | &nbsp;&nbsp;&nbsp;&nbsp;599265 |
| Vanguard International Semiconductor Corp. | &nbsp;&nbsp;33837 | &nbsp;&nbsp;&nbsp;&nbsp;116522 |
| Voltronic Power Technology Corp. | &nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;129406 |
| Wan Hai Lines, Ltd. | &nbsp;&nbsp;22770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69246 |
| Wistron Corp. | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;420725 |
| Wiwynn Corp. | &nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;347340 |
| WPG Holdings, Ltd. | &nbsp;&nbsp;54840 | &nbsp;&nbsp;&nbsp;&nbsp;131813 |
| Yageo Corp. | &nbsp;&nbsp;14355 | &nbsp;&nbsp;&nbsp;&nbsp;238205 |
| Yang Ming Marine Transport Corp. | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;145856 |
| Yuanta Financial Holding Company, Ltd. | 358632 | &nbsp;&nbsp;&nbsp;&nbsp;419715 |
| Zhen Ding Technology Holding, Ltd. | &nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79152 |
|  |  | 59127721 |
| **Thailand - 0.3%** |  |  |
| Advanced Info Service PCL | &nbsp;&nbsp;40400 | &nbsp;&nbsp;&nbsp;&nbsp;346274 |
| Advanced Info Service PCL, NVDR | &nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23142 |
| Airports of Thailand PCL | 144700 | &nbsp;&nbsp;&nbsp;&nbsp;134861 |
| Airports of Thailand PCL, NVDR | &nbsp;&nbsp;&nbsp;6300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5872 |
| Bangkok Dusit Medical Services PCL, NVDR | 387300 | &nbsp;&nbsp;&nbsp;&nbsp;247851 |
| Bumrungrad Hospital PCL, NVDR | &nbsp;&nbsp;20500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88055 |
| Central Pattana PCL, NVDR | &nbsp;&nbsp;71100 | &nbsp;&nbsp;&nbsp;&nbsp;101124 |
| Charoen Pokphand Foods PCL | 136200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96453 |
| CP ALL PCL | 184600 | &nbsp;&nbsp;&nbsp;&nbsp;250033 |
| CP ALL PCL, NVDR | &nbsp;&nbsp;20200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27360 |
| CP AXTRA PCL, NVDR | &nbsp;&nbsp;70567 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38923 |
| Delta Electronics Thailand PCL, NVDR | 113300 | &nbsp;&nbsp;&nbsp;&nbsp;336325 |
| Gulf Development PCL, NVDR (A) | 159767 | &nbsp;&nbsp;&nbsp;&nbsp;190440 |
| Home Product Center PCL | 204400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40940 |
| Kasikornbank PCL, NVDR | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94472 |
| Krung Thai Bank PCL | 113775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74632 |
| Minor International PCL, NVDR | 131483 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94053 |
| PTT Exploration & Production PCL | &nbsp;&nbsp;47147 | &nbsp;&nbsp;&nbsp;&nbsp;158901 |
| PTT Oil & Retail Business PCL, NVDR | 102500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35708 |
| PTT PCL | 329000 | &nbsp;&nbsp;&nbsp;&nbsp;303807 |
| PTT PCL, NVDR | &nbsp;&nbsp;23100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21331 |
| SCB X PCL | &nbsp;&nbsp;23348 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84433 |
| SCB X PCL, NVDR | &nbsp;&nbsp;&nbsp;6200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22421 |
| The Siam Cement PCL | &nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62153 |
| The Siam Cement PCL, NVDR | &nbsp;&nbsp;14300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74065 |
| TMBThanachart Bank PCL, NVDR | 829800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48284 |
| True Corp. PCL (A) | 269362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92125 |
| True Corp. PCL, NVDR (A) | &nbsp;&nbsp;90400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30918 |
|  |  | &nbsp;&nbsp;&nbsp;3124956 |
| **Turkey - 0.2%** |  |  |
| Akbank TAS | 109420 | &nbsp;&nbsp;&nbsp;&nbsp;187517 |
| Aselsan Elektronik Sanayi Ve Ticaret AS | &nbsp;&nbsp;46762 | &nbsp;&nbsp;&nbsp;&nbsp;177082 |
| BIM Birlesik Magazalar AS | &nbsp;&nbsp;16428 | &nbsp;&nbsp;&nbsp;&nbsp;204164 |
| Coca-Cola Icecek AS | &nbsp;&nbsp;28919 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35759 |
| Eregli Demir ve Celik Fabrikalari TAS | 139344 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93394 |
| Ford Otomotiv Sanayi AS | &nbsp;&nbsp;23900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53622 |
| Haci Omer Sabanci Holding AS | &nbsp;&nbsp;41192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92783 |
| KOC Holding AS | &nbsp;&nbsp;26797 | &nbsp;&nbsp;&nbsp;&nbsp;103706 |
| Pegasus Hava Tasimaciligi AS (A) | &nbsp;&nbsp;&nbsp;7693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49673 |
| Sasa Polyester Sanayi AS (A) | 373267 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28700 |
| Turk Hava Yollari AO (A) | &nbsp;&nbsp;18859 | &nbsp;&nbsp;&nbsp;&nbsp;134356 |
| Turkcell Iletisim Hizmetleri AS | &nbsp;&nbsp;42620 | &nbsp;&nbsp;&nbsp;&nbsp;103092 |
| Turkiye Is Bankasi AS, Class C | 336501 | &nbsp;&nbsp;&nbsp;&nbsp;112934 |
| Turkiye Petrol Rafinerileri AS | &nbsp;&nbsp;34986 | &nbsp;&nbsp;&nbsp;&nbsp;123029 |
| Turkiye Sise ve Cam Fabrikalari AS | &nbsp;&nbsp;47094 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42638 |
| Yapi ve Kredi Bankasi AS (A) | 118497 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94381 |
|  |  | &nbsp;&nbsp;&nbsp;1636830 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **United Arab Emirates - 0.0%** |  |  |
| NMC Health PLC (A)(E) | &nbsp;&nbsp;&nbsp;&nbsp;4471 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| **United Kingdom - 8.9%** |  |  |
| 3i Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;34523 | 1953727 |
| Admiral Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;9412 | &nbsp;&nbsp;&nbsp;&nbsp;422659 |
| Anglo American PLC | &nbsp;&nbsp;&nbsp;&nbsp;39906 | 1176341 |
| AngloGold Ashanti PLC | &nbsp;&nbsp;&nbsp;&nbsp;17954 | &nbsp;&nbsp;&nbsp;&nbsp;820165 |
| Ashtead Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;15404 | &nbsp;&nbsp;&nbsp;&nbsp;987794 |
| Associated British Foods PLC | &nbsp;&nbsp;&nbsp;&nbsp;11883 | &nbsp;&nbsp;&nbsp;&nbsp;335745 |
| AstraZeneca PLC | &nbsp;&nbsp;&nbsp;&nbsp;55292 | 7694919 |
| Auto Trader Group PLC (B) | &nbsp;&nbsp;&nbsp;&nbsp;31085 | &nbsp;&nbsp;&nbsp;&nbsp;352092 |
| Aviva PLC | &nbsp;&nbsp;&nbsp;&nbsp;95427 | &nbsp;&nbsp;&nbsp;&nbsp;811292 |
| BAE Systems PLC | &nbsp;&nbsp;107416 | 2787745 |
| Barclays PLC | &nbsp;&nbsp;509300 | 2353350 |
| Barratt Redrow PLC | &nbsp;&nbsp;&nbsp;&nbsp;48297 | &nbsp;&nbsp;&nbsp;&nbsp;302435 |
| BP PLC | &nbsp;&nbsp;568773 | 2833785 |
| British American Tobacco PLC | &nbsp;&nbsp;&nbsp;&nbsp;70637 | 3358520 |
| BT Group PLC | &nbsp;&nbsp;231833 | &nbsp;&nbsp;&nbsp;&nbsp;617305 |
| Bunzl PLC | &nbsp;&nbsp;&nbsp;&nbsp;11855 | &nbsp;&nbsp;&nbsp;&nbsp;377776 |
| Centrica PLC | &nbsp;&nbsp;176008 | &nbsp;&nbsp;&nbsp;&nbsp;390521 |
| Coca-Cola Europacific Partners PLC | &nbsp;&nbsp;&nbsp;&nbsp;1300 | &nbsp;&nbsp;&nbsp;&nbsp;120536 |
| Coca-Cola Europacific Partners PLC (Euronext Amsterdam Exchange) | &nbsp;&nbsp;&nbsp;&nbsp;6887 | &nbsp;&nbsp;&nbsp;&nbsp;634608 |
| Compass Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;60527 | 2050163 |
| Croda International PLC | &nbsp;&nbsp;&nbsp;&nbsp;4570 | &nbsp;&nbsp;&nbsp;&nbsp;183476 |
| Diageo PLC | &nbsp;&nbsp;&nbsp;&nbsp;79349 | 2000866 |
| Entain PLC | &nbsp;&nbsp;&nbsp;&nbsp;21740 | &nbsp;&nbsp;&nbsp;&nbsp;269263 |
| GSK PLC | &nbsp;&nbsp;146209 | 2787680 |
| Haleon PLC | &nbsp;&nbsp;321801 | 1653933 |
| Halma PLC | &nbsp;&nbsp;&nbsp;&nbsp;13659 | &nbsp;&nbsp;&nbsp;&nbsp;600367 |
| Hikma Pharmaceuticals PLC | &nbsp;&nbsp;&nbsp;&nbsp;5587 | &nbsp;&nbsp;&nbsp;&nbsp;152463 |
| HSBC Holdings PLC | &nbsp;&nbsp;631591 | 7639818 |
| Imperial Brands PLC | &nbsp;&nbsp;&nbsp;&nbsp;28222 | 1115052 |
| Informa PLC | &nbsp;&nbsp;&nbsp;&nbsp;47912 | &nbsp;&nbsp;&nbsp;&nbsp;530442 |
| InterContinental Hotels Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;5589 | &nbsp;&nbsp;&nbsp;&nbsp;639017 |
| International Consolidated Airlines Group SA | &nbsp;&nbsp;&nbsp;&nbsp;44318 | &nbsp;&nbsp;&nbsp;&nbsp;208793 |
| Intertek Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;5855 | &nbsp;&nbsp;&nbsp;&nbsp;381385 |
| J Sainsbury PLC | &nbsp;&nbsp;&nbsp;&nbsp;64488 | &nbsp;&nbsp;&nbsp;&nbsp;256653 |
| JD Sports Fashion PLC | &nbsp;&nbsp;&nbsp;&nbsp;87670 | &nbsp;&nbsp;&nbsp;&nbsp;106911 |
| Kingfisher PLC | &nbsp;&nbsp;&nbsp;&nbsp;65606 | &nbsp;&nbsp;&nbsp;&nbsp;262003 |
| Land Securities Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;25882 | &nbsp;&nbsp;&nbsp;&nbsp;224806 |
| Legal & General Group PLC | &nbsp;&nbsp;209707 | &nbsp;&nbsp;&nbsp;&nbsp;733749 |
| Lloyds Banking Group PLC | 2149473 | 2260201 |
| London Stock Exchange Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;16943 | 2477858 |
| M&G PLC | &nbsp;&nbsp;&nbsp;&nbsp;84096 | &nbsp;&nbsp;&nbsp;&nbsp;297255 |
| Marks & Spencer Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;71983 | &nbsp;&nbsp;&nbsp;&nbsp;350342 |
| Melrose Industries PLC | &nbsp;&nbsp;&nbsp;&nbsp;45639 | &nbsp;&nbsp;&nbsp;&nbsp;332396 |
| Mondi PLC | &nbsp;&nbsp;&nbsp;&nbsp;12600 | &nbsp;&nbsp;&nbsp;&nbsp;205890 |
| Mondi PLC (Johannesburg Stock Exchange) | &nbsp;&nbsp;&nbsp;&nbsp;3761 | &nbsp;&nbsp;&nbsp;&nbsp;61961 |
| National Grid PLC | &nbsp;&nbsp;174622 | 2563210 |
| NatWest Group PLC | &nbsp;&nbsp;288047 | 2022935 |
| Next PLC | &nbsp;&nbsp;&nbsp;&nbsp;4249 | &nbsp;&nbsp;&nbsp;&nbsp;725701 |
| Pearson PLC | &nbsp;&nbsp;&nbsp;&nbsp;21043 | &nbsp;&nbsp;&nbsp;&nbsp;309983 |
| Phoenix Group Holdings PLC | &nbsp;&nbsp;&nbsp;&nbsp;25040 | &nbsp;&nbsp;&nbsp;&nbsp;226539 |
| Reckitt Benckiser Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;24260 | 1652755 |
| RELX PLC | &nbsp;&nbsp;&nbsp;&nbsp;22799 | 1232031 |
| RELX PLC (Euronext Amsterdam Exchange) | &nbsp;&nbsp;&nbsp;&nbsp;43007 | 2330873 |
| Rentokil Initial PLC | &nbsp;&nbsp;&nbsp;&nbsp;88467 | &nbsp;&nbsp;&nbsp;&nbsp;426832 |
| Rio Tinto PLC | &nbsp;&nbsp;&nbsp;&nbsp;40243 | 2342300 |
| Rolls-Royce Holdings PLC | &nbsp;&nbsp;302303 | 4006303 |
| Schroders PLC | &nbsp;&nbsp;&nbsp;&nbsp;29188 | &nbsp;&nbsp;&nbsp;&nbsp;145155 |
| Segro PLC | &nbsp;&nbsp;&nbsp;&nbsp;46436 | &nbsp;&nbsp;&nbsp;&nbsp;434693 |
| Severn Trent PLC | &nbsp;&nbsp;&nbsp;&nbsp;9413 | &nbsp;&nbsp;&nbsp;&nbsp;353666 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 46 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### International Equity Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **United Kingdom (continued)** |  |  |
| Shell PLC | 215400 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7515181 |
| Smith & Nephew PLC | &nbsp;&nbsp;30660 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;469533 |
| Smiths Group PLC | &nbsp;&nbsp;12075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;372444 |
| Spirax Group PLC | &nbsp;&nbsp;&nbsp;2735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223646 |
| SSE PLC | &nbsp;&nbsp;39227 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;987738 |
| Standard Chartered PLC | &nbsp;&nbsp;73749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1220434 |
| Tesco PLC | 239923 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1322817 |
| The Sage Group PLC | &nbsp;&nbsp;35769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;614252 |
| Unilever PLC | &nbsp;&nbsp;89200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5443522 |
| United Utilities Group PLC | &nbsp;&nbsp;24018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;377148 |
| Vodafone Group PLC | 764658 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;818527 |
| Whitbread PLC | &nbsp;&nbsp;&nbsp;6683 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;259340 |
| Wise PLC, Class A (A) | &nbsp;&nbsp;23957 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;342234 |
| WPP PLC | &nbsp;&nbsp;37695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265409 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;95119259 |
| **United States - 0.3%** |  |  |
| Amrize, Ltd. (A) | &nbsp;&nbsp;18585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;927083 |
| BeOne Medicines, Ltd. (A) | &nbsp;&nbsp;29400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;556161 |
| Brookfield Asset Management, Ltd., Class A | &nbsp;&nbsp;14568 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;806308 |
| Brookfield Renewable Corp. | &nbsp;&nbsp;&nbsp;5150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168786 |
| Legend Biotech Corp., ADR (A) | &nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88725 |
| RB Global, Inc. | &nbsp;&nbsp;&nbsp;6600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;701173 |
| Southern Copper Corp. | &nbsp;&nbsp;&nbsp;3089 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;312514 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3560750 |
| TOTAL COMMON STOCKS (Cost $666,893,027) | TOTAL COMMON STOCKS (Cost $666,893,027) | $1054567893 |
| **PREFERRED SECURITIES - 0.6%** | **PREFERRED SECURITIES - 0.6%** |  |
| **Brazil - 0.3%** |  |  |
| Banco Bradesco SA | 186281 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;577039 |
| Banco BTG Pactual SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 |
| Centrais Eletricas Brasileiras SA, B Shares | &nbsp;&nbsp;&nbsp;7400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60487 |
| Cia Energetica de Minas Gerais | &nbsp;&nbsp;61322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121897 |
| Companhia Paranaense de Energia, B Shares | &nbsp;&nbsp;38400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88065 |
| Gerdau SA | &nbsp;&nbsp;46536 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137044 |
| Itau Unibanco Holding SA | 190087 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1292764 |
| Itausa SA | 208595 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420407 |
| Petroleo Brasileiro SA | 165051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;953286 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3650996 |
| **Chile - 0.0%** |  |  |
| Sociedad Quimica y Minera de Chile SA, B Shares (A) | &nbsp;&nbsp;&nbsp;&nbsp;490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17462 |
| **Germany - 0.2%** |  |  |
| Bayerische Motoren Werke AG | &nbsp;&nbsp;&nbsp;2090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173566 |
| Dr. Ing. h.c. F. Porsche AG (B) | &nbsp;&nbsp;&nbsp;3890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192259 |
| Henkel AG & Company KGaA | &nbsp;&nbsp;&nbsp;5936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;466473 |
| Porsche Automobil Holding SE | &nbsp;&nbsp;&nbsp;5695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;226084 |
| Sartorius AG | &nbsp;&nbsp;&nbsp;&nbsp;903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229993 |
| Volkswagen AG | &nbsp;&nbsp;&nbsp;7263 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;767799 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2056174 |
| **South Korea - 0.1%** |  |  |
| Hyundai Motor Company | &nbsp;&nbsp;&nbsp;&nbsp;793 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90556 |
| Hyundai Motor Company, 2nd Preferred Shares | &nbsp;&nbsp;&nbsp;1197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140568 |
| Samsung Electronics Company, Ltd. | &nbsp;&nbsp;28859 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1058690 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1289814 |
| TOTAL PREFERRED SECURITIES (Cost $7,504,363) | TOTAL PREFERRED SECURITIES (Cost $7,504,363) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7014446 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **RIGHTS - 0.0%** |  |  |
| Hanwha Aerospace Company, Ltd. (Expiration Date: 7-3-25; Strike Price: KRW 684,000.00) (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9964 |
| Leg Immobilien SE (Expiration Date: 7-4-25) (A)(F) | &nbsp;&nbsp;&nbsp;&nbsp;2553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8120 |
| Posco Future M Company, Ltd. (Expiration Date: 7-23-25; Strike Price: KRW 96,400.00) (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2779 |
| TOTAL RIGHTS (Cost $7,867) | TOTAL RIGHTS (Cost $7,867) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20863 |
| **WARRANTS - 0.0%** |  |  |
| Constellation Software, Inc. (Expiration Date: 3-31-40) (A)(E)(F) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| YTL Corp. BHD (Expiration Date: 6-2-28; Strike Price: MYR 1.50) (A) | &nbsp;&nbsp;&nbsp;&nbsp;22780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4436 |
| YTL Power International BHD (Expiration Date: 6-2-28; Strike Price: MYR 2.45) (A) | &nbsp;&nbsp;&nbsp;&nbsp;16860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6127 |
| TOTAL WARRANTS (Cost $0) | TOTAL WARRANTS (Cost $0) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10563 |
| **SHORT-TERM INVESTMENTS - 0.8%** | **SHORT-TERM INVESTMENTS - 0.8%** |  |
| **Short-term funds - 0.8%** |  |  |
| John Hancock Collateral Trust, 4.2596% (G)(H) | &nbsp;&nbsp;229176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2292311 |
| State Street Institutional Us Government Money Market Fund, 4.2676% (G) | 6136334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6136334 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $8,428,646) | TOTAL SHORT-TERM INVESTMENTS (Cost $8,428,646) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8428645 |
| **Total Investments (International Equity Index Trust)<br> (Cost $682,833,903) - 99.6%** | **Total Investments (International Equity Index Trust)<br> (Cost $682,833,903) - 99.6%** | $**1070042410** |
| **Other assets and liabilities, net - 0.4%** | **Other assets and liabilities, net - 0.4%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3974856** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $**1074017266** |

---

---

| | |
|:---|:---|
| <u>Currency Abbreviations</u> | <u>Currency Abbreviations</u> |
| KRW | Korean Won |
| MYR | Malaysian Ringgit |
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| ADR | American Depositary Receipt |
| GDR | Global Depositary Receipt |
| NVDR | Non-Voting Depositary Receipt |
| (A) | Non-income producing security. |
| (B) | This security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. |
| (C) | Investment is an affiliate of the fund, the advisor and/or subadvisor. |
| (D) | All or a portion of this security is on loan as of 6-30-25. |
| (E) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements. |
| (F) | Strike price and/or expiration date not available. |
| (G) | The rate shown is the annualized seven-day yield as of 6-30-25. |
| (H) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 47 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### International Equity Index Trust (continued) &nbsp;&nbsp;&nbsp;&nbsp;

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| Mini MSCI EAFE Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;$5033335 | &nbsp;&nbsp;&nbsp;&nbsp;$5093710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$60375 |
| Mini MSCI Emerging Markets Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2346999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2404350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57351 |
| MSCI Kuwait Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;121 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2207804 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2353450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145646 |
| MSCI Qatar Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;129 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2243040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2296845 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53805 |
| MSCI UAE Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4423645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4755150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;331505 |
| S&P/TSX 60 Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;695817 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;704975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9158 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$657840** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

See Notes to financial statements regarding investment transactions and other derivatives information.

#### International Small Company Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS - 98.1%** | **COMMON STOCKS - 98.1%** |  |
| **Australia - 6.0%** |  |  |
| Accent Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6857 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6299 |
| Adairs, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8079 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11122 |
| Ainsworth Game Technology, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6047 |
| Alcidion Group, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43339 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2850 |
| Alkane Resources, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11878 |
| Alliance Aviation Services, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3238 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5600 |
| AMA Group, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10377 |
| Amotiv, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4059 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21405 |
| AMP, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91862 |
| Amplitude Energy, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21885 |
| Ansell, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103555 |
| Appen, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7064 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5210 |
| Arafura Rare Earths, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16986 |
| ARB Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71873 |
| Archer Materials, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1419 |
| ARN Media, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20357 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6288 |
| Articore Group, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1825 |
| AUB Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119275 |
| Audinate Group, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1223 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6022 |
| Aurelia Metals, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115998 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14535 |
| Aussie Broadband, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9321 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24044 |
| Austal, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13722 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56841 |
| Australian Agricultural Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25500 |
| Australian Clinical Labs, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10452 |
| Australian Ethical Investment, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4074 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17129 |
| Australian Finance Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22604 |
| Australian Strategic Materials, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2805 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;932 |
| AVZ Minerals, Ltd. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7548 |
| Baby Bunting Group, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5551 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6723 |
| Bank of Queensland, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126413 |
| Bapcor, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51398 |
| Beach Energy, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55786 |
| Beacon Lighting Group, Ltd. (C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6861 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16344 |
| Bega Cheese, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39125 |
| Bell Financial Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8020 |
| Bellevue Gold, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67009 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40383 |
| BetMakers Technology Group, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;921 |
| Boss Energy, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46538 |
| Bravura Solutions, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28317 |
| Breville Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71181 |
| Brickworks, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67253 |
| Bubs Australia, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3917 |
| Capricorn Metals, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92199 |
| Carnarvon Energy, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51813 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3595 |
| Cash Converters International, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14501 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2677 |

---

#### International Small Company Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Australia (continued)** |  |  |
| Catalyst Metals, Ltd. (A) | &nbsp;&nbsp;7241 | $&nbsp;&nbsp;&nbsp;25063 |
| Cedar Woods Properties, Ltd. | &nbsp;&nbsp;3145 | &nbsp;&nbsp;&nbsp;14659 |
| Cettire, Ltd. (A) | &nbsp;&nbsp;7920 | &nbsp;&nbsp;&nbsp;&nbsp;1775 |
| Chalice Mining, Ltd. (A) | 19336 | &nbsp;&nbsp;&nbsp;21586 |
| Challenger, Ltd. | 14347 | &nbsp;&nbsp;&nbsp;76352 |
| Champion Iron, Ltd. | 13415 | &nbsp;&nbsp;&nbsp;36959 |
| Chrysos Corp., Ltd. (A) | &nbsp;&nbsp;1788 | &nbsp;&nbsp;&nbsp;&nbsp;5536 |
| Clinuvel Pharmaceuticals, Ltd. | &nbsp;&nbsp;2335 | &nbsp;&nbsp;&nbsp;15953 |
| Clover Corp., Ltd. | &nbsp;&nbsp;8155 | &nbsp;&nbsp;&nbsp;&nbsp;2759 |
| Coast Entertainment Holdings, Ltd. (A) | 39016 | &nbsp;&nbsp;&nbsp;&nbsp;9750 |
| Codan, Ltd. | &nbsp;&nbsp;4936 | &nbsp;&nbsp;&nbsp;65296 |
| Collins Foods, Ltd. | &nbsp;&nbsp;5736 | &nbsp;&nbsp;&nbsp;35105 |
| Corporate Travel Management, Ltd. | &nbsp;&nbsp;4156 | &nbsp;&nbsp;&nbsp;37846 |
| Credit Corp. Group, Ltd. | &nbsp;&nbsp;3047 | &nbsp;&nbsp;&nbsp;27100 |
| Dalrymple Bay Infrastructure, Ltd. | &nbsp;&nbsp;9505 | &nbsp;&nbsp;&nbsp;26594 |
| Data#3, Ltd. | &nbsp;&nbsp;5537 | &nbsp;&nbsp;&nbsp;27733 |
| Deep Yellow, Ltd. (A) | 31653 | &nbsp;&nbsp;&nbsp;34928 |
| Dicker Data, Ltd. | &nbsp;&nbsp;2871 | &nbsp;&nbsp;&nbsp;15271 |
| Domain Holdings Australia, Ltd. | &nbsp;&nbsp;5557 | &nbsp;&nbsp;&nbsp;16068 |
| Domino's Pizza Enterprises, Ltd. | &nbsp;&nbsp;2592 | &nbsp;&nbsp;&nbsp;32891 |
| Downer EDI, Ltd. | 26043 | 108247 |
| Dyno Nobel, Ltd. | 19601 | &nbsp;&nbsp;&nbsp;34693 |
| Eagers Automotive, Ltd. | &nbsp;&nbsp;4898 | &nbsp;&nbsp;&nbsp;56300 |
| Elders, Ltd. | &nbsp;&nbsp;8739 | &nbsp;&nbsp;&nbsp;36264 |
| Emeco Holdings, Ltd. (A) | 22924 | &nbsp;&nbsp;&nbsp;12528 |
| Emerald Resources NL (A) | 21418 | &nbsp;&nbsp;&nbsp;55896 |
| EML Payments, Ltd. (A) | 16327 | &nbsp;&nbsp;&nbsp;12536 |
| Enero Group, Ltd. | &nbsp;&nbsp;3952 | &nbsp;&nbsp;&nbsp;&nbsp;1776 |
| EQT Holdings, Ltd. | &nbsp;&nbsp;1030 | &nbsp;&nbsp;&nbsp;23074 |
| EVT, Ltd. | &nbsp;&nbsp;4108 | &nbsp;&nbsp;&nbsp;45013 |
| Finbar Group, Ltd. | &nbsp;&nbsp;8370 | &nbsp;&nbsp;&nbsp;&nbsp;3971 |
| FleetPartners Group, Ltd. (A) | &nbsp;&nbsp;3145 | &nbsp;&nbsp;&nbsp;&nbsp;6326 |
| Fleetwood, Ltd. | &nbsp;&nbsp;8058 | &nbsp;&nbsp;&nbsp;13687 |
| Flight Centre Travel Group, Ltd. | &nbsp;&nbsp;6231 | &nbsp;&nbsp;&nbsp;51136 |
| Frontier Digital Ventures, Ltd. (A) | 11391 | &nbsp;&nbsp;&nbsp;&nbsp;1572 |
| G8 Education, Ltd. | 23703 | &nbsp;&nbsp;&nbsp;18420 |
| Galan Lithium, Ltd. (A)(C) | 24061 | &nbsp;&nbsp;&nbsp;&nbsp;1914 |
| Generation Development Group, Ltd. | &nbsp;&nbsp;2690 | &nbsp;&nbsp;&nbsp;&nbsp;9736 |
| Genesis Minerals, Ltd. (A) | 26598 | &nbsp;&nbsp;&nbsp;76466 |
| Gold Road Resources, Ltd. | 45674 | &nbsp;&nbsp;&nbsp;99222 |
| GrainCorp, Ltd., Class A | &nbsp;&nbsp;9793 | &nbsp;&nbsp;&nbsp;50170 |
| Grange Resources, Ltd. | 21083 | &nbsp;&nbsp;&nbsp;&nbsp;2502 |
| GWA Group, Ltd. | 12453 | &nbsp;&nbsp;&nbsp;19680 |
| Hansen Technologies, Ltd. | &nbsp;&nbsp;6495 | &nbsp;&nbsp;&nbsp;21314 |
| Healius, Ltd. | 30121 | &nbsp;&nbsp;&nbsp;15569 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 48 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### International Small Company Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Australia (continued)** |  |  |
| Helia Group, Ltd. | &nbsp;&nbsp;14393 | $&nbsp;&nbsp;&nbsp;53357 |
| Highfield Resources, Ltd. (A) | &nbsp;&nbsp;13495 | &nbsp;&nbsp;&nbsp;&nbsp;1329 |
| HUB24, Ltd. | &nbsp;&nbsp;&nbsp;1194 | &nbsp;&nbsp;&nbsp;70071 |
| Humm Group, Ltd. | &nbsp;&nbsp;30307 | &nbsp;&nbsp;&nbsp;11269 |
| IDP Education, Ltd. | &nbsp;&nbsp;&nbsp;7627 | &nbsp;&nbsp;&nbsp;18467 |
| IGO, Ltd. | &nbsp;&nbsp;11182 | &nbsp;&nbsp;&nbsp;30807 |
| Iluka Resources, Ltd. | &nbsp;&nbsp;10545 | &nbsp;&nbsp;&nbsp;26456 |
| Imdex, Ltd. | &nbsp;&nbsp;25654 | &nbsp;&nbsp;&nbsp;45930 |
| Immutep, Ltd. (A) | &nbsp;&nbsp;32224 | &nbsp;&nbsp;&nbsp;&nbsp;5088 |
| Infomedia, Ltd. | &nbsp;&nbsp;17584 | &nbsp;&nbsp;&nbsp;13721 |
| Inghams Group, Ltd. | &nbsp;&nbsp;13624 | &nbsp;&nbsp;&nbsp;31834 |
| Insignia Financial, Ltd. (A) | &nbsp;&nbsp;28538 | &nbsp;&nbsp;&nbsp;67992 |
| Integral Diagnostics, Ltd. | &nbsp;&nbsp;19333 | &nbsp;&nbsp;&nbsp;32335 |
| Ioneer, Ltd. (A) | &nbsp;&nbsp;61614 | &nbsp;&nbsp;&nbsp;&nbsp;3925 |
| Ioneer, Ltd., Additional Offering (A) | &nbsp;&nbsp;&nbsp;7424 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;473 |
| IPH, Ltd. | &nbsp;&nbsp;11409 | &nbsp;&nbsp;&nbsp;34374 |
| IRESS, Ltd. | &nbsp;&nbsp;&nbsp;4820 | &nbsp;&nbsp;&nbsp;25363 |
| IVE Group, Ltd. | &nbsp;&nbsp;11452 | &nbsp;&nbsp;&nbsp;21696 |
| Johns Lyng Group, Ltd. | &nbsp;&nbsp;&nbsp;7242 | &nbsp;&nbsp;&nbsp;15130 |
| Jumbo Interactive, Ltd. | &nbsp;&nbsp;&nbsp;2253 | &nbsp;&nbsp;&nbsp;14528 |
| Jupiter Mines, Ltd. | &nbsp;&nbsp;72822 | &nbsp;&nbsp;&nbsp;&nbsp;9595 |
| Karoon Energy, Ltd. | &nbsp;&nbsp;26749 | &nbsp;&nbsp;&nbsp;33756 |
| Kelsian Group, Ltd. | &nbsp;&nbsp;&nbsp;8384 | &nbsp;&nbsp;&nbsp;20942 |
| Kogan.com, Ltd. | &nbsp;&nbsp;&nbsp;2032 | &nbsp;&nbsp;&nbsp;&nbsp;5031 |
| Lendlease Corp., Ltd. | &nbsp;&nbsp;20814 | &nbsp;&nbsp;&nbsp;73759 |
| Lifestyle Communities, Ltd. | &nbsp;&nbsp;&nbsp;4954 | &nbsp;&nbsp;&nbsp;22842 |
| Lindsay Australia, Ltd. | &nbsp;&nbsp;22535 | &nbsp;&nbsp;&nbsp;10678 |
| Lovisa Holdings, Ltd. | &nbsp;&nbsp;&nbsp;3010 | &nbsp;&nbsp;&nbsp;62755 |
| Lycopodium, Ltd. | &nbsp;&nbsp;&nbsp;1317 | &nbsp;&nbsp;&nbsp;&nbsp;8979 |
| MA Financial Group, Ltd. | &nbsp;&nbsp;&nbsp;4146 | &nbsp;&nbsp;&nbsp;20752 |
| Macmahon Holdings, Ltd. | 112440 | &nbsp;&nbsp;&nbsp;22668 |
| Macquarie Technology Group, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;470 | &nbsp;&nbsp;&nbsp;20578 |
| Magellan Financial Group, Ltd. | &nbsp;&nbsp;&nbsp;5757 | &nbsp;&nbsp;&nbsp;32467 |
| Mayne Pharma Group, Ltd. (A) | &nbsp;&nbsp;&nbsp;4957 | &nbsp;&nbsp;&nbsp;16295 |
| McMillan Shakespeare, Ltd. | &nbsp;&nbsp;&nbsp;2468 | &nbsp;&nbsp;&nbsp;25239 |
| McPherson's, Ltd. (A) | &nbsp;&nbsp;&nbsp;9168 | &nbsp;&nbsp;&nbsp;&nbsp;1509 |
| Megaport, Ltd. (A) | &nbsp;&nbsp;&nbsp;4479 | &nbsp;&nbsp;&nbsp;42590 |
| Mesoblast, Ltd. (A) | &nbsp;&nbsp;37977 | &nbsp;&nbsp;&nbsp;41302 |
| Metals X, Ltd. (A) | &nbsp;&nbsp;48765 | &nbsp;&nbsp;&nbsp;17478 |
| Metcash, Ltd. | &nbsp;&nbsp;41758 | 107482 |
| Michael Hill International, Ltd. (A) | &nbsp;&nbsp;16629 | &nbsp;&nbsp;&nbsp;&nbsp;4482 |
| Monadelphous Group, Ltd. | &nbsp;&nbsp;&nbsp;4455 | &nbsp;&nbsp;&nbsp;51478 |
| Monash IVF Group, Ltd. | &nbsp;&nbsp;21798 | &nbsp;&nbsp;&nbsp;10125 |
| Mount Gibson Iron, Ltd. (A) | &nbsp;&nbsp;19096 | &nbsp;&nbsp;&nbsp;&nbsp;3393 |
| Myer Holdings, Ltd. | &nbsp;&nbsp;56935 | &nbsp;&nbsp;&nbsp;22684 |
| MyState, Ltd. | &nbsp;&nbsp;&nbsp;6971 | &nbsp;&nbsp;&nbsp;19310 |
| Nanosonics, Ltd. (A) | &nbsp;&nbsp;&nbsp;2276 | &nbsp;&nbsp;&nbsp;&nbsp;6065 |
| Navigator Global Investments, Ltd. | &nbsp;&nbsp;11684 | &nbsp;&nbsp;&nbsp;13077 |
| Neuren Pharmaceuticals, Ltd. (A) | &nbsp;&nbsp;&nbsp;1723 | &nbsp;&nbsp;&nbsp;16017 |
| New Hope Corp., Ltd. | &nbsp;&nbsp;23547 | &nbsp;&nbsp;&nbsp;57342 |
| nib holdings, Ltd. | &nbsp;&nbsp;20171 | &nbsp;&nbsp;&nbsp;93891 |
| Nick Scali, Ltd. | &nbsp;&nbsp;&nbsp;2772 | &nbsp;&nbsp;&nbsp;33250 |
| Nickel Industries, Ltd. | &nbsp;&nbsp;57059 | &nbsp;&nbsp;&nbsp;26150 |
| Nine Entertainment Company Holdings, Ltd. | &nbsp;&nbsp;57796 | &nbsp;&nbsp;&nbsp;61803 |
| Novonix, Ltd. (A)(C) | &nbsp;&nbsp;11595 | &nbsp;&nbsp;&nbsp;&nbsp;2896 |
| NRW Holdings, Ltd. | &nbsp;&nbsp;19940 | &nbsp;&nbsp;&nbsp;39249 |
| Nufarm, Ltd. (A) | &nbsp;&nbsp;14586 | &nbsp;&nbsp;&nbsp;23669 |
| Nuix, Ltd. (A) | &nbsp;&nbsp;10473 | &nbsp;&nbsp;&nbsp;15091 |
| Objective Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;921 | &nbsp;&nbsp;&nbsp;11626 |
| OFX Group, Ltd. (A) | &nbsp;&nbsp;14134 | &nbsp;&nbsp;&nbsp;&nbsp;6986 |
| Omni Bridgeway, Ltd. (A) | &nbsp;&nbsp;15737 | &nbsp;&nbsp;&nbsp;13875 |
| oOh!media, Ltd. | &nbsp;&nbsp;31712 | &nbsp;&nbsp;&nbsp;35934 |
| Ora Banda Mining, Ltd. (A) | &nbsp;&nbsp;35710 | &nbsp;&nbsp;&nbsp;18297 |
| Orora, Ltd. | &nbsp;&nbsp;56536 | &nbsp;&nbsp;&nbsp;70436 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Australia (continued)** |  |  |
| Pacific Current Group, Ltd. | &nbsp;&nbsp;&nbsp;1717 | $&nbsp;&nbsp;&nbsp;&nbsp;12224 |
| Paladin Energy, Ltd. (A) | &nbsp;&nbsp;&nbsp;3788 | &nbsp;&nbsp;&nbsp;&nbsp;20195 |
| Paladin Energy, Ltd. (Toronto Stock Exchange) (A) | &nbsp;&nbsp;&nbsp;2098 | &nbsp;&nbsp;&nbsp;&nbsp;11077 |
| Pantoro Gold, Ltd. (A) | &nbsp;&nbsp;16901 | &nbsp;&nbsp;&nbsp;&nbsp;34327 |
| Peet, Ltd. | &nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;15480 |
| PeopleIN, Ltd. (A) | &nbsp;&nbsp;&nbsp;5305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2564 |
| Perenti, Ltd. | &nbsp;&nbsp;35432 | &nbsp;&nbsp;&nbsp;&nbsp;37848 |
| Perpetual, Ltd. | &nbsp;&nbsp;&nbsp;3944 | &nbsp;&nbsp;&nbsp;&nbsp;46899 |
| Perseus Mining, Ltd. | &nbsp;&nbsp;54471 | &nbsp;&nbsp;&nbsp;&nbsp;123714 |
| PEXA Group, Ltd. (A) | &nbsp;&nbsp;&nbsp;4479 | &nbsp;&nbsp;&nbsp;&nbsp;40059 |
| Platinum Asset Management, Ltd. | &nbsp;&nbsp;22136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6706 |
| Praemium, Ltd. | &nbsp;&nbsp;28131 | &nbsp;&nbsp;&nbsp;&nbsp;11853 |
| Premier Investments, Ltd. | &nbsp;&nbsp;&nbsp;2387 | &nbsp;&nbsp;&nbsp;&nbsp;31792 |
| Propel Funeral Partners, Ltd. | &nbsp;&nbsp;&nbsp;3234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9639 |
| PWR Holdings, Ltd. | &nbsp;&nbsp;&nbsp;3396 | &nbsp;&nbsp;&nbsp;&nbsp;15501 |
| Ramelius Resources, Ltd. | &nbsp;&nbsp;40131 | &nbsp;&nbsp;&nbsp;&nbsp;67576 |
| ReadyTech Holdings, Ltd. (A) | &nbsp;&nbsp;&nbsp;4809 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7281 |
| Regis Healthcare, Ltd. | &nbsp;&nbsp;&nbsp;5443 | &nbsp;&nbsp;&nbsp;&nbsp;28071 |
| Regis Resources, Ltd. (A) | &nbsp;&nbsp;35749 | &nbsp;&nbsp;&nbsp;&nbsp;104926 |
| Resolute Mining, Ltd. (A) | &nbsp;&nbsp;88090 | &nbsp;&nbsp;&nbsp;&nbsp;35887 |
| Ridley Corp., Ltd. | &nbsp;&nbsp;14265 | &nbsp;&nbsp;&nbsp;&nbsp;27618 |
| RPMGlobal Holdings, Ltd. (A) | &nbsp;&nbsp;&nbsp;6670 | &nbsp;&nbsp;&nbsp;&nbsp;12767 |
| Sandfire Resources, Ltd. (A) | &nbsp;&nbsp;13399 | &nbsp;&nbsp;&nbsp;&nbsp;99544 |
| Select Harvests, Ltd. (A) | &nbsp;&nbsp;&nbsp;8313 | &nbsp;&nbsp;&nbsp;&nbsp;22483 |
| Servcorp, Ltd. | &nbsp;&nbsp;&nbsp;3171 | &nbsp;&nbsp;&nbsp;&nbsp;11969 |
| Service Stream, Ltd. | &nbsp;&nbsp;27275 | &nbsp;&nbsp;&nbsp;&nbsp;35577 |
| Seven West Media, Ltd. (A) | &nbsp;&nbsp;85038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8125 |
| Silver Mines, Ltd. (A) | &nbsp;&nbsp;92373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7054 |
| Sims, Ltd. | &nbsp;&nbsp;&nbsp;7974 | &nbsp;&nbsp;&nbsp;&nbsp;80583 |
| SmartGroup Corp., Ltd. | &nbsp;&nbsp;&nbsp;4810 | &nbsp;&nbsp;&nbsp;&nbsp;23344 |
| SolGold PLC (A) | &nbsp;&nbsp;65333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6166 |
| Solvar, Ltd. | &nbsp;&nbsp;10468 | &nbsp;&nbsp;&nbsp;&nbsp;11546 |
| Southern Cross Media Group, Ltd. (A) | &nbsp;&nbsp;17291 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6076 |
| SRG Global, Ltd. | &nbsp;&nbsp;13828 | &nbsp;&nbsp;&nbsp;&nbsp;15720 |
| St. Barbara, Ltd. (A) | &nbsp;&nbsp;43956 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8367 |
| Stanmore Resources, Ltd. | &nbsp;&nbsp;&nbsp;9875 | &nbsp;&nbsp;&nbsp;&nbsp;12159 |
| Strike Energy, Ltd. (A) | 118299 | &nbsp;&nbsp;&nbsp;&nbsp;11695 |
| Super Retail Group, Ltd. | &nbsp;&nbsp;&nbsp;5206 | &nbsp;&nbsp;&nbsp;&nbsp;48804 |
| Superloop, Ltd. (A) | &nbsp;&nbsp;16944 | &nbsp;&nbsp;&nbsp;&nbsp;33608 |
| Supply Network, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;454 | &nbsp;&nbsp;&nbsp;&nbsp;11174 |
| Syrah Resources, Ltd. (A) | &nbsp;&nbsp;62038 | &nbsp;&nbsp;&nbsp;&nbsp;10408 |
| Tabcorp Holdings, Ltd. | &nbsp;&nbsp;93926 | &nbsp;&nbsp;&nbsp;&nbsp;44166 |
| Temple & Webster Group, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;489 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6862 |
| Ten Sixty Four, Ltd. (A)(B) | &nbsp;&nbsp;&nbsp;8127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;457 |
| The Reject Shop, Ltd. | &nbsp;&nbsp;&nbsp;2561 | &nbsp;&nbsp;&nbsp;&nbsp;11254 |
| The Star Entertainment Group, Ltd. (A)(C) | &nbsp;&nbsp;35991 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3205 |
| Tuas, Ltd. (A) | &nbsp;&nbsp;&nbsp;6509 | &nbsp;&nbsp;&nbsp;&nbsp;25516 |
| Tyro Payments, Ltd. (A) | &nbsp;&nbsp;10423 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6040 |
| Ventia Services Group Pty, Ltd. | &nbsp;&nbsp;27017 | &nbsp;&nbsp;&nbsp;&nbsp;92145 |
| Viva Energy Group, Ltd. (D) | &nbsp;&nbsp;28271 | &nbsp;&nbsp;&nbsp;&nbsp;40225 |
| Vulcan Energy Resources, Ltd. (A) | &nbsp;&nbsp;&nbsp;4422 | &nbsp;&nbsp;&nbsp;&nbsp;10612 |
| WEB Travel Group, Ltd. (A) | &nbsp;&nbsp;16369 | &nbsp;&nbsp;&nbsp;&nbsp;47868 |
| Webjet Group, Ltd. (A) | &nbsp;&nbsp;16369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9708 |
| West African Resources, Ltd. (A) | &nbsp;&nbsp;52899 | &nbsp;&nbsp;&nbsp;&nbsp;80353 |
| Westgold Resources, Ltd. | &nbsp;&nbsp;30316 | &nbsp;&nbsp;&nbsp;&nbsp;58003 |
| Westgold Resources, Ltd. (Toronto Stock Exchange) (A) | &nbsp;&nbsp;12115 | &nbsp;&nbsp;&nbsp;&nbsp;22775 |
| Whitehaven Coal, Ltd. | &nbsp;&nbsp;27612 | &nbsp;&nbsp;&nbsp;&nbsp;98567 |
| Zip Company, Ltd. (A) | &nbsp;&nbsp;49768 | &nbsp;&nbsp;&nbsp;&nbsp;100426 |
|  |  | 6273945 |
| **Austria - 1.5%** |  |  |
| Addiko Bank AG (A) | &nbsp;&nbsp;&nbsp;&nbsp;668 | &nbsp;&nbsp;&nbsp;&nbsp;14898 |
| Agrana Beteiligungs AG | &nbsp;&nbsp;&nbsp;&nbsp;724 | &nbsp;&nbsp;&nbsp;&nbsp;11268 |
| ams-OSRAM AG (A) | &nbsp;&nbsp;&nbsp;2043 | &nbsp;&nbsp;&nbsp;&nbsp;27537 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 49 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### International Small Company Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Austria (continued)** |  |  |
| ANDRITZ AG | 2533 | $&nbsp;&nbsp;&nbsp;&nbsp;188653 |
| AT&S Austria Technologie & Systemtechnik AG (A) | 1188 | &nbsp;&nbsp;&nbsp;&nbsp;24023 |
| BAWAG Group AG (A)(D) | 3265 | &nbsp;&nbsp;&nbsp;&nbsp;417425 |
| CA Immobilien Anlagen AG | 1426 | &nbsp;&nbsp;&nbsp;&nbsp;40861 |
| CPI Europe AG (A)(C) | &nbsp;&nbsp;945 | &nbsp;&nbsp;&nbsp;&nbsp;20918 |
| DO & Company AG (A) | &nbsp;&nbsp;278 | &nbsp;&nbsp;&nbsp;&nbsp;59389 |
| Eurotelesites AG (A) | 1109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6634 |
| EVN AG | 1321 | &nbsp;&nbsp;&nbsp;&nbsp;36474 |
| Fabasoft AG | &nbsp;&nbsp;599 | &nbsp;&nbsp;&nbsp;&nbsp;11066 |
| FACC AG (A) | 1116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9335 |
| Kapsch TrafficCom AG (A) | &nbsp;&nbsp;191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1520 |
| Kontron AG | 1320 | &nbsp;&nbsp;&nbsp;&nbsp;38975 |
| Lenzing AG (A) | &nbsp;&nbsp;566 | &nbsp;&nbsp;&nbsp;&nbsp;16102 |
| Mayr Melnhof Karton AG | &nbsp;&nbsp;302 | &nbsp;&nbsp;&nbsp;&nbsp;27229 |
| Oesterreichische Post AG | 1378 | &nbsp;&nbsp;&nbsp;&nbsp;49183 |
| Palfinger AG | &nbsp;&nbsp;876 | &nbsp;&nbsp;&nbsp;&nbsp;36993 |
| POLYTEC Holding AG (A) | &nbsp;&nbsp;995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3850 |
| Porr AG | &nbsp;&nbsp;876 | &nbsp;&nbsp;&nbsp;&nbsp;29236 |
| RHI Magnesita NV | &nbsp;&nbsp;552 | &nbsp;&nbsp;&nbsp;&nbsp;22500 |
| Schoeller-Bleckmann Oilfield Equipment AG | &nbsp;&nbsp;445 | &nbsp;&nbsp;&nbsp;&nbsp;15819 |
| Semperit AG Holding | &nbsp;&nbsp;822 | &nbsp;&nbsp;&nbsp;&nbsp;12737 |
| Strabag SE, Bearer Shares | &nbsp;&nbsp;245 | &nbsp;&nbsp;&nbsp;&nbsp;23329 |
| Telekom Austria AG | 4306 | &nbsp;&nbsp;&nbsp;&nbsp;49020 |
| UBM Development AG (A) | &nbsp;&nbsp;411 | &nbsp;&nbsp;&nbsp;&nbsp;10166 |
| UNIQA Insurance Group AG | 3329 | &nbsp;&nbsp;&nbsp;&nbsp;45153 |
| Vienna Insurance Group AG | 1157 | &nbsp;&nbsp;&nbsp;&nbsp;59581 |
| voestalpine AG | 5003 | &nbsp;&nbsp;&nbsp;&nbsp;141079 |
| Wienerberger AG | 4106 | &nbsp;&nbsp;&nbsp;&nbsp;153450 |
| Zumtobel Group AG | 2545 | &nbsp;&nbsp;&nbsp;&nbsp;14611 |
|  |  | 1619014 |
| **Belgium - 1.7%** |  |  |
| Ackermans & van Haaren NV | &nbsp;&nbsp;875 | &nbsp;&nbsp;&nbsp;&nbsp;224002 |
| Ageas SA/NV | 1606 | &nbsp;&nbsp;&nbsp;&nbsp;108642 |
| AGFA-Gevaert NV (A) | 6780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8418 |
| Atenor (A) | 1218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3904 |
| Azelis Group NV | 2791 | &nbsp;&nbsp;&nbsp;&nbsp;44618 |
| Barco NV | 2300 | &nbsp;&nbsp;&nbsp;&nbsp;33704 |
| Bekaert SA | 1389 | &nbsp;&nbsp;&nbsp;&nbsp;57466 |
| Biocartis Group NV (A)(B)(D) | 4063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1388 |
| bpost SA (A) | 4236 | &nbsp;&nbsp;&nbsp;&nbsp;10544 |
| Cie d'Entreprises CFE | &nbsp;&nbsp;416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4252 |
| Colruyt Group N.V | 1453 | &nbsp;&nbsp;&nbsp;&nbsp;62878 |
| Deceuninck NV | 2515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6126 |
| Deme Group NV | &nbsp;&nbsp;303 | &nbsp;&nbsp;&nbsp;&nbsp;46120 |
| D'ieteren Group | &nbsp;&nbsp;396 | &nbsp;&nbsp;&nbsp;&nbsp;85279 |
| Econocom Group SA/NV | 6435 | &nbsp;&nbsp;&nbsp;&nbsp;14764 |
| Elia Group SA/NV | &nbsp;&nbsp;897 | &nbsp;&nbsp;&nbsp;&nbsp;103599 |
| EVS Broadcast Equipment SA | &nbsp;&nbsp;404 | &nbsp;&nbsp;&nbsp;&nbsp;16935 |
| Fagron | 2712 | &nbsp;&nbsp;&nbsp;&nbsp;71779 |
| Galapagos NV (A) | 1566 | &nbsp;&nbsp;&nbsp;&nbsp;43836 |
| Gimv NV | 1112 | &nbsp;&nbsp;&nbsp;&nbsp;54832 |
| Immobel SA (A)(C) | &nbsp;&nbsp;209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4626 |
| Ion Beam Applications | 1305 | &nbsp;&nbsp;&nbsp;&nbsp;17596 |
| Kinepolis Group NV | &nbsp;&nbsp;585 | &nbsp;&nbsp;&nbsp;&nbsp;24792 |
| Lotus Bakeries NV | &nbsp;&nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp;&nbsp;105995 |
| Melexis NV | &nbsp;&nbsp;863 | &nbsp;&nbsp;&nbsp;&nbsp;73562 |
| Nyxoah SA (A)(C) | &nbsp;&nbsp;774 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5790 |
| Ontex Group NV (A) | 2807 | &nbsp;&nbsp;&nbsp;&nbsp;22521 |
| Orange Belgium SA (A) | &nbsp;&nbsp;417 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8282 |
| Proximus SADP | 6084 | &nbsp;&nbsp;&nbsp;&nbsp;59347 |
| Recticel SA | 2296 | &nbsp;&nbsp;&nbsp;&nbsp;27696 |
| Sipef NV | &nbsp;&nbsp;420 | &nbsp;&nbsp;&nbsp;&nbsp;31490 |
| Solvay SA | 3220 | &nbsp;&nbsp;&nbsp;&nbsp;111531 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Belgium (continued)** |  |  |
| Tessenderlo Group SA | &nbsp;&nbsp;1111 | $&nbsp;&nbsp;&nbsp;&nbsp;33156 |
| Umicore SA | &nbsp;&nbsp;3845 | &nbsp;&nbsp;&nbsp;&nbsp;56744 |
| Van de Velde NV | &nbsp;&nbsp;&nbsp;&nbsp;377 | &nbsp;&nbsp;&nbsp;&nbsp;14840 |
| VGP NV | &nbsp;&nbsp;&nbsp;&nbsp;618 | &nbsp;&nbsp;&nbsp;&nbsp;62510 |
| Viohalco SA | &nbsp;&nbsp;7173 | &nbsp;&nbsp;&nbsp;&nbsp;48302 |
| X-Fab Silicon Foundries SE (A)(D) | &nbsp;&nbsp;3484 | &nbsp;&nbsp;&nbsp;&nbsp;27620 |
|  |  | 1739486 |
| **Bermuda - 0.2%** |  |  |
| Hiscox, Ltd. | 13525 | &nbsp;&nbsp;&nbsp;&nbsp;233449 |
| **Cambodia - 0.0%** |  |  |
| NagaCorp, Ltd. (A) | 52981 | &nbsp;&nbsp;&nbsp;&nbsp;24059 |
| **Canada - 11.2%** |  |  |
| 5N Plus, Inc. (A) | &nbsp;&nbsp;3515 | &nbsp;&nbsp;&nbsp;&nbsp;23076 |
| Acadian Timber Corp. | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;10404 |
| ADENTRA, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;449 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9513 |
| Advantage Energy, Ltd. (A) | &nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;78186 |
| Aecon Group, Inc. | &nbsp;&nbsp;3200 | &nbsp;&nbsp;&nbsp;&nbsp;48338 |
| Ag Growth International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8228 |
| AGF Management, Ltd., Class B | &nbsp;&nbsp;4298 | &nbsp;&nbsp;&nbsp;&nbsp;41725 |
| Aimia, Inc. (A) | &nbsp;&nbsp;7777 | &nbsp;&nbsp;&nbsp;&nbsp;15534 |
| Air Canada (A) | &nbsp;&nbsp;6092 | &nbsp;&nbsp;&nbsp;&nbsp;94260 |
| AirBoss of America Corp. | &nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5177 |
| Algoma Central Corp. | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8302 |
| Algoma Steel Group, Inc. | &nbsp;&nbsp;1095 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7567 |
| Algonquin Power & Utilities Corp. (C) | 20386 | &nbsp;&nbsp;&nbsp;&nbsp;116620 |
| Altius Minerals Corp. | &nbsp;&nbsp;1700 | &nbsp;&nbsp;&nbsp;&nbsp;34181 |
| Altus Group, Ltd. | &nbsp;&nbsp;2018 | &nbsp;&nbsp;&nbsp;&nbsp;78082 |
| Amerigo Resources, Ltd. | 13502 | &nbsp;&nbsp;&nbsp;&nbsp;21516 |
| Andlauer Healthcare Group, Inc. | &nbsp;&nbsp;1114 | &nbsp;&nbsp;&nbsp;&nbsp;43038 |
| Andrew Peller, Ltd., Class A | &nbsp;&nbsp;2300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8884 |
| Aritzia, Inc. (A) | &nbsp;&nbsp;3753 | &nbsp;&nbsp;&nbsp;&nbsp;194437 |
| Ascot Resources, Ltd. (A) | 13700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;654 |
| Atco, Ltd., Class I | &nbsp;&nbsp;3218 | &nbsp;&nbsp;&nbsp;&nbsp;120000 |
| Athabasca Oil Corp. (A) | 22874 | &nbsp;&nbsp;&nbsp;&nbsp;94738 |
| ATS Corp. (A) | &nbsp;&nbsp;3447 | &nbsp;&nbsp;&nbsp;&nbsp;109934 |
| AutoCanada, Inc. (A) | &nbsp;&nbsp;1985 | &nbsp;&nbsp;&nbsp;&nbsp;31952 |
| B2Gold Corp. (C) | 49963 | &nbsp;&nbsp;&nbsp;&nbsp;180516 |
| B2Gold Corp. (NYSE American Exchange) | &nbsp;&nbsp;5393 | &nbsp;&nbsp;&nbsp;&nbsp;19469 |
| Badger Infrastructure Solutions, Ltd. | &nbsp;&nbsp;1832 | &nbsp;&nbsp;&nbsp;&nbsp;64011 |
| Ballard Power Systems, Inc. (A)(C) | &nbsp;&nbsp;9718 | &nbsp;&nbsp;&nbsp;&nbsp;15557 |
| Bausch Health Companies, Inc. (A) | &nbsp;&nbsp;8857 | &nbsp;&nbsp;&nbsp;&nbsp;59058 |
| Baytex Energy Corp. | 16664 | &nbsp;&nbsp;&nbsp;&nbsp;29859 |
| Birch Mountain Resources, Ltd. (A)(B) | &nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| Birchcliff Energy, Ltd. | 11933 | &nbsp;&nbsp;&nbsp;&nbsp;65460 |
| Bird Construction, Inc. | &nbsp;&nbsp;2754 | &nbsp;&nbsp;&nbsp;&nbsp;58225 |
| Bitfarms, Ltd. (A)(C) | &nbsp;&nbsp;9400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7800 |
| Black Diamond Group, Ltd. | &nbsp;&nbsp;2750 | &nbsp;&nbsp;&nbsp;&nbsp;19972 |
| BMTC Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5251 |
| Bombardier, Inc., Class B (A) | &nbsp;&nbsp;2300 | &nbsp;&nbsp;&nbsp;&nbsp;200383 |
| Boralex, Inc., Class A | &nbsp;&nbsp;4010 | &nbsp;&nbsp;&nbsp;&nbsp;93172 |
| Boyd Group Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;460 | &nbsp;&nbsp;&nbsp;&nbsp;72256 |
| BRP, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;696 | &nbsp;&nbsp;&nbsp;&nbsp;33784 |
| Calian Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;605 | &nbsp;&nbsp;&nbsp;&nbsp;22223 |
| Canaccord Genuity Group, Inc. (C) | &nbsp;&nbsp;5281 | &nbsp;&nbsp;&nbsp;&nbsp;40177 |
| Canacol Energy, Ltd. (A)(C) | &nbsp;&nbsp;1513 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2933 |
| Canada Goose Holdings, Inc. (A) | &nbsp;&nbsp;2213 | &nbsp;&nbsp;&nbsp;&nbsp;24751 |
| Canadian Tire Corp., Ltd., Class A | &nbsp;&nbsp;1222 | &nbsp;&nbsp;&nbsp;&nbsp;166364 |
| Canfor Corp. (A) | &nbsp;&nbsp;2404 | &nbsp;&nbsp;&nbsp;&nbsp;24962 |
| Capital Power Corp. | &nbsp;&nbsp;5327 | &nbsp;&nbsp;&nbsp;&nbsp;214371 |
| Capstone Copper Corp. (A) | 22835 | &nbsp;&nbsp;&nbsp;&nbsp;140188 |
| Cardinal Energy, Ltd. | &nbsp;&nbsp;5530 | &nbsp;&nbsp;&nbsp;&nbsp;27371 |
| Cascades, Inc. | &nbsp;&nbsp;4523 | &nbsp;&nbsp;&nbsp;&nbsp;29594 |
| Centerra Gold, Inc. | &nbsp;&nbsp;9077 | &nbsp;&nbsp;&nbsp;&nbsp;65390 |
| CES Energy Solutions Corp. | 13613 | &nbsp;&nbsp;&nbsp;&nbsp;66278 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 50 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### International Small Company Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Canada (continued)** |  |  |
| China Gold International Resources Corp., Ltd. (C) | 18050 | $163964 |
| CI Financial Corp. | &nbsp;&nbsp;3299 | &nbsp;&nbsp;&nbsp;76773 |
| Cineplex, Inc. (A) | &nbsp;&nbsp;1227 | &nbsp;&nbsp;&nbsp;10452 |
| Cogeco Communications, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;563 | &nbsp;&nbsp;&nbsp;29375 |
| Colliers International Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;65420 |
| Computer Modelling Group, Ltd. | &nbsp;&nbsp;4420 | &nbsp;&nbsp;&nbsp;23402 |
| Corby Spirit and Wine, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;7233 |
| Cronos Group, Inc. (A) | &nbsp;&nbsp;5470 | &nbsp;&nbsp;&nbsp;10484 |
| Cronos Group, Inc. (Nasdaq Exchange) (A) | &nbsp;&nbsp;7260 | &nbsp;&nbsp;&nbsp;13867 |
| Definity Financial Corp. | &nbsp;&nbsp;2578 | 150259 |
| Denison Mines Corp. (A) | 17895 | &nbsp;&nbsp;&nbsp;32722 |
| Dexterra Group, Inc. | &nbsp;&nbsp;1621 | &nbsp;&nbsp;&nbsp;10928 |
| Docebo, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;320 | &nbsp;&nbsp;&nbsp;&nbsp;9275 |
| Doman Building Materials Group, Ltd. | &nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;23053 |
| Dorel Industries, Inc., Class B (A) | &nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;1983 |
| DREAM Unlimited Corp., Class A | &nbsp;&nbsp;1350 | &nbsp;&nbsp;&nbsp;20462 |
| Dundee Precious Metals, Inc. | &nbsp;&nbsp;7687 | 123511 |
| Dye & Durham, Ltd. | &nbsp;&nbsp;2990 | &nbsp;&nbsp;&nbsp;21079 |
| E-L Financial Corp., Ltd. | 10000 | 118597 |
| Eldorado Gold Corp. (A) | &nbsp;&nbsp;8268 | 168305 |
| Eldorado Gold Corp. (New York Stock Exchange) (A) | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;14238 |
| Endeavour Silver Corp. (A) | &nbsp;&nbsp;9520 | &nbsp;&nbsp;&nbsp;46910 |
| Enerflex, Ltd. | &nbsp;&nbsp;5377 | &nbsp;&nbsp;&nbsp;42447 |
| Enghouse Systems, Ltd. | &nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;30891 |
| Ensign Energy Services, Inc. (A) | &nbsp;&nbsp;9800 | &nbsp;&nbsp;&nbsp;16192 |
| EQB, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;958 | &nbsp;&nbsp;&nbsp;72855 |
| Equinox Gold Corp. (A) | 16652 | &nbsp;&nbsp;&nbsp;96115 |
| ERO Copper Corp. (A) | &nbsp;&nbsp;3400 | &nbsp;&nbsp;&nbsp;57426 |
| Evertz Technologies, Ltd. | &nbsp;&nbsp;1900 | &nbsp;&nbsp;&nbsp;17301 |
| Exchange Income Corp. | &nbsp;&nbsp;&nbsp;&nbsp;568 | &nbsp;&nbsp;&nbsp;26165 |
| Exco Technologies, Ltd. | &nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;7634 |
| Extendicare, Inc. | &nbsp;&nbsp;3780 | &nbsp;&nbsp;&nbsp;39250 |
| Fiera Capital Corp. (C) | &nbsp;&nbsp;5935 | &nbsp;&nbsp;&nbsp;27981 |
| Finning International, Inc. | &nbsp;&nbsp;5481 | 234334 |
| Firm Capital Mortgage Investment Corp. | &nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp;9936 |
| First Majestic Silver Corp. | &nbsp;&nbsp;9281 | &nbsp;&nbsp;&nbsp;76811 |
| First Majestic Silver Corp. (New York Stock Exchange) | &nbsp;&nbsp;5382 | &nbsp;&nbsp;&nbsp;44509 |
| First Mining Gold Corp. (A) | 39000 | &nbsp;&nbsp;&nbsp;&nbsp;5298 |
| First National Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;21143 |
| Fortuna Mining Corp. (A) | &nbsp;&nbsp;8500 | &nbsp;&nbsp;&nbsp;55616 |
| Freehold Royalties, Ltd. (C) | &nbsp;&nbsp;5429 | &nbsp;&nbsp;&nbsp;50991 |
| Frontera Energy Corp. | &nbsp;&nbsp;2003 | &nbsp;&nbsp;&nbsp;&nbsp;9737 |
| Galiano Gold, Inc. (A) | &nbsp;&nbsp;6600 | &nbsp;&nbsp;&nbsp;&nbsp;8385 |
| Gamehost, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;902 |
| GDI Integrated Facility Services, Inc. (A) | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;23272 |
| Gibson Energy, Inc. (C) | &nbsp;&nbsp;5806 | 101901 |
| Gildan Activewear, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;457 | &nbsp;&nbsp;&nbsp;22519 |
| goeasy, Ltd. (C) | &nbsp;&nbsp;&nbsp;&nbsp;372 | &nbsp;&nbsp;&nbsp;45861 |
| GoGold Resources, Inc. (A) | &nbsp;&nbsp;5300 | &nbsp;&nbsp;&nbsp;&nbsp;7784 |
| Guardian Capital Group, Ltd., Class A | &nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;34937 |
| Hammond Power Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;36844 |
| Hanfeng Evergreen, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Headwater Exploration, Inc. | &nbsp;&nbsp;9290 | &nbsp;&nbsp;&nbsp;45913 |
| High Liner Foods, Inc. | &nbsp;&nbsp;1773 | &nbsp;&nbsp;&nbsp;23579 |
| HLS Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;2467 |
| Hudbay Minerals, Inc. | 18710 | 198538 |
| IAMGOLD Corp. (A) | 22927 | 168869 |
| IAMGOLD Corp. (New York Stock Exchange) (A) | &nbsp;&nbsp;4400 | &nbsp;&nbsp;&nbsp;32340 |
| Imperial Metals Corp. (A) | &nbsp;&nbsp;5060 | &nbsp;&nbsp;&nbsp;18170 |
| Information Services Corp. | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;18805 |
| Innergex Renewable Energy, Inc. | &nbsp;&nbsp;7131 | &nbsp;&nbsp;&nbsp;71847 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Canada (continued)** |  |  |
| Interfor Corp. (A) | &nbsp;&nbsp;2920 | $&nbsp;&nbsp;&nbsp;26890 |
| International Petroleum Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;337 | &nbsp;&nbsp;&nbsp;&nbsp;5514 |
| International Petroleum Corp. (Nasdaq Stockholm Exchange) (A) | &nbsp;&nbsp;3496 | &nbsp;&nbsp;&nbsp;56657 |
| International Tower Hill Mines, Ltd. (A) | &nbsp;&nbsp;2300 | &nbsp;&nbsp;&nbsp;&nbsp;1976 |
| Jamieson Wellness, Inc. (D) | &nbsp;&nbsp;2200 | &nbsp;&nbsp;&nbsp;57385 |
| K92 Mining, Inc. (A) | &nbsp;&nbsp;5911 | &nbsp;&nbsp;&nbsp;66674 |
| KAB Distribution, Inc. (A)(B) | &nbsp;&nbsp;7076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| K-Bro Linen, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;15377 |
| Kelt Exploration, Ltd. (A) | 10445 | &nbsp;&nbsp;&nbsp;56300 |
| Keyera Corp. | &nbsp;&nbsp;2175 | &nbsp;&nbsp;&nbsp;71140 |
| Knight Therapeutics, Inc. (A) | &nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;23119 |
| Labrador Iron Ore Royalty Corp. (C) | &nbsp;&nbsp;3518 | &nbsp;&nbsp;&nbsp;73318 |
| Largo, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;780 | &nbsp;&nbsp;&nbsp;&nbsp;1008 |
| Lassonde Industries, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;30637 |
| Laurentian Bank of Canada | &nbsp;&nbsp;1514 | &nbsp;&nbsp;&nbsp;34622 |
| Leon's Furniture, Ltd. | &nbsp;&nbsp;1283 | &nbsp;&nbsp;&nbsp;26409 |
| Lightspeed Commerce, Inc. (A) | &nbsp;&nbsp;5593 | &nbsp;&nbsp;&nbsp;65633 |
| Linamar Corp. | &nbsp;&nbsp;1866 | &nbsp;&nbsp;&nbsp;88795 |
| Lucara Diamond Corp. (A)(C) | 25184 | &nbsp;&nbsp;&nbsp;&nbsp;4161 |
| Lundin Gold, Inc. | &nbsp;&nbsp;4782 | 252488 |
| Magellan Aerospace Corp. | &nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;12756 |
| Mainstreet Equity Corp. | &nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;41036 |
| Major Drilling Group International, Inc. (A) | &nbsp;&nbsp;4513 | &nbsp;&nbsp;&nbsp;29363 |
| Manitok Energy, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;16 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Maple Leaf Foods, Inc. | &nbsp;&nbsp;4270 | &nbsp;&nbsp;&nbsp;88959 |
| Martinrea International, Inc. | &nbsp;&nbsp;4603 | &nbsp;&nbsp;&nbsp;28664 |
| Mattr Corp. (A) | &nbsp;&nbsp;1373 | &nbsp;&nbsp;&nbsp;12109 |
| MDA Space, Ltd. (A) | &nbsp;&nbsp;4887 | 126002 |
| Medical Facilities Corp. | &nbsp;&nbsp;2104 | &nbsp;&nbsp;&nbsp;24412 |
| MEG Energy Corp. | &nbsp;&nbsp;6856 | 129543 |
| Melcor Developments, Ltd. | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;10178 |
| Meren Energy, Inc. | 22402 | &nbsp;&nbsp;&nbsp;27473 |
| Methanex Corp. | &nbsp;&nbsp;3074 | 101786 |
| Morguard Corp. | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;33272 |
| MTY Food Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;742 | &nbsp;&nbsp;&nbsp;23158 |
| Mullen Group, Ltd. | &nbsp;&nbsp;3682 | &nbsp;&nbsp;&nbsp;38368 |
| New Gold, Inc. (A) | 34515 | 171593 |
| NFI Group, Inc. (A) | &nbsp;&nbsp;2960 | &nbsp;&nbsp;&nbsp;39213 |
| North American Construction Group, Ltd. | &nbsp;&nbsp;1300 | &nbsp;&nbsp;&nbsp;20802 |
| Northland Power, Inc. (C) | &nbsp;&nbsp;9569 | 150167 |
| NuVista Energy, Ltd. (A) | &nbsp;&nbsp;7905 | &nbsp;&nbsp;&nbsp;86959 |
| OceanaGold Corp. | 11200 | 158079 |
| Onex Corp. | &nbsp;&nbsp;1890 | 155586 |
| Open Text Corp. | &nbsp;&nbsp;4797 | 140167 |
| OR Royalties, Inc. | &nbsp;&nbsp;6095 | 156655 |
| Organigram Global, Inc. (A) | &nbsp;&nbsp;2232 | &nbsp;&nbsp;&nbsp;&nbsp;3016 |
| Orla Mining, Ltd. (A) | &nbsp;&nbsp;9340 | &nbsp;&nbsp;&nbsp;93829 |
| Paramount Resources, Ltd., Class A | &nbsp;&nbsp;2973 | &nbsp;&nbsp;&nbsp;47310 |
| Parex Resources, Inc. | &nbsp;&nbsp;3328 | &nbsp;&nbsp;&nbsp;33995 |
| Parkland Corp. | &nbsp;&nbsp;5019 | 141973 |
| Pason Systems, Inc. | &nbsp;&nbsp;3936 | &nbsp;&nbsp;&nbsp;35494 |
| Pet Valu Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;955 | &nbsp;&nbsp;&nbsp;23164 |
| Peyto Exploration & Development Corp. (C) | &nbsp;&nbsp;6197 | &nbsp;&nbsp;&nbsp;88512 |
| PHX Energy Services Corp. | &nbsp;&nbsp;2600 | &nbsp;&nbsp;&nbsp;15370 |
| Pine Cliff Energy, Ltd. (C) | 11000 | &nbsp;&nbsp;&nbsp;&nbsp;5089 |
| Pizza Pizza Royalty Corp. | &nbsp;&nbsp;1729 | &nbsp;&nbsp;&nbsp;19058 |
| Polaris Renewable Energy, Inc. | &nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;13251 |
| Pollard Banknote, Ltd. | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;15899 |
| PrairieSky Royalty, Ltd. | &nbsp;&nbsp;9927 | 172187 |
| Precision Drilling Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;382 | &nbsp;&nbsp;&nbsp;18091 |
| Premium Brands Holdings Corp. | &nbsp;&nbsp;1800 | 107359 |
| Quarterhill, Inc. (A) | &nbsp;&nbsp;9800 | &nbsp;&nbsp;&nbsp;10147 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 51 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### International Small Company Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Canada (continued)** |  |  |
| Quebecor, Inc., Class B | &nbsp;&nbsp;4995 | $&nbsp;&nbsp;&nbsp;&nbsp;152042 |
| Questerre Energy Corp., Class A (A) | 19444 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4569 |
| Real Matters, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1225 |
| RF Capital Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1412 |
| Richelieu Hardware, Ltd. | &nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53740 |
| Rogers Sugar, Inc. | &nbsp;&nbsp;6474 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26623 |
| Russel Metals, Inc. | &nbsp;&nbsp;1946 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62664 |
| Sandstorm Gold, Ltd. | &nbsp;&nbsp;8872 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83459 |
| Sandstorm Gold, Ltd. (New York Stock Exchange) | &nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37600 |
| Savaria Corp. | &nbsp;&nbsp;2300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32936 |
| Seabridge Gold, Inc. (A) | &nbsp;&nbsp;4762 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69135 |
| Secure Waste Infrastructure Corp. | 10077 | &nbsp;&nbsp;&nbsp;&nbsp;115219 |
| Sienna Senior Living, Inc. | &nbsp;&nbsp;3606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50446 |
| Spartan Delta Corp. (A) | &nbsp;&nbsp;1796 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5025 |
| Spin Master Corp. (D) | &nbsp;&nbsp;1400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23759 |
| Sprott, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64216 |
| Stella-Jones, Inc. | &nbsp;&nbsp;2269 | &nbsp;&nbsp;&nbsp;&nbsp;130783 |
| Superior Plus Corp. | &nbsp;&nbsp;7557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44285 |
| Surge Energy, Inc. | &nbsp;&nbsp;2103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9436 |
| Tamarack Valley Energy, Ltd. | 18228 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64653 |
| Taseko Mines, Ltd. (A) | 16100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50839 |
| TELUS Corp. | &nbsp;&nbsp;1433 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23014 |
| TerraVest Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74507 |
| The North West Company, Inc. | &nbsp;&nbsp;2333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82698 |
| Tidewater Midstream and Infrastructure, Ltd. (A) | &nbsp;&nbsp;6650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1026 |
| Tilray Brands, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;114 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47 |
| Timbercreek Financial Corp. | &nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33486 |
| TLC Vision Corp. (A)(B) | &nbsp;&nbsp;3400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Topaz Energy Corp. | &nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37687 |
| Torex Gold Resources, Inc. (A) | &nbsp;&nbsp;3673 | &nbsp;&nbsp;&nbsp;&nbsp;119812 |
| Total Energy Services, Inc. | &nbsp;&nbsp;3132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24840 |
| TransAlta Corp. | 10982 | &nbsp;&nbsp;&nbsp;&nbsp;118469 |
| Transcontinental, Inc., Class A | &nbsp;&nbsp;3383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51947 |
| Trevali Mining Corp. (A)(B) | &nbsp;&nbsp;3713 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252 |
| Trican Well Service, Ltd. | &nbsp;&nbsp;7825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25916 |
| Triple Flag Precious Metals Corp. | &nbsp;&nbsp;2063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48918 |
| Trisura Group, Ltd. (A) | &nbsp;&nbsp;2100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68286 |
| Vecima Networks, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;479 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3243 |
| Vermilion Energy, Inc. (C) | &nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33577 |
| Wajax Corp. | &nbsp;&nbsp;1300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21776 |
| Well Health Technologies Corp. (A) | &nbsp;&nbsp;6500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19379 |
| Wesdome Gold Mines, Ltd. (A) | &nbsp;&nbsp;6200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86370 |
| Western Copper & Gold Corp. (A)(C) | &nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6622 |
| Western Forest Products, Inc. (A) | 25850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7593 |
| Westshore Terminals Investment Corp. | &nbsp;&nbsp;2189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42422 |
| Whitecap Resources, Inc. | &nbsp;&nbsp;9454 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63531 |
| Whitecap Resources, Inc. (Toronto Stock Exchange) (C) | 28739 | &nbsp;&nbsp;&nbsp;&nbsp;193106 |
| Winpak, Ltd. | &nbsp;&nbsp;1677 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54974 |
| Yellow Pages, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1172 |
| Zenith Capital Corp. (A) | &nbsp;&nbsp;1700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68 |
|  |  | 11838530 |
| **Denmark - 2.5%** |  |  |
| ALK-Abello A/S (A) | &nbsp;&nbsp;5228 | &nbsp;&nbsp;&nbsp;&nbsp;154249 |
| Alm Brand A/S | 33083 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88476 |
| Ambu A/S, Class B | &nbsp;&nbsp;7931 | &nbsp;&nbsp;&nbsp;&nbsp;124739 |
| Bang & Olufsen A/S (A)(C) | &nbsp;&nbsp;7788 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16544 |
| Bavarian Nordic A/S (A) | &nbsp;&nbsp;2530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67454 |
| CBrain A/S | &nbsp;&nbsp;&nbsp;&nbsp;389 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13250 |
| Chemometec A/S | &nbsp;&nbsp;&nbsp;&nbsp;801 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73929 |
| Columbus A/S | &nbsp;&nbsp;6187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9720 |
| D/S Norden A/S | &nbsp;&nbsp;&nbsp;&nbsp;890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28249 |
| Demant A/S (A) | &nbsp;&nbsp;1064 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44456 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Denmark (continued)** |  |  |
| Dfds A/S (A) | &nbsp;&nbsp;1767 | $&nbsp;&nbsp;&nbsp;&nbsp;31337 |
| FLSmidth & Company A/S | &nbsp;&nbsp;1909 | &nbsp;&nbsp;&nbsp;&nbsp;117001 |
| GN Store Nord A/S (A) | &nbsp;&nbsp;3264 | &nbsp;&nbsp;&nbsp;&nbsp;50358 |
| H Lundbeck A/S | 12897 | &nbsp;&nbsp;&nbsp;&nbsp;74088 |
| H+H International A/S, Class B (A) | &nbsp;&nbsp;1146 | &nbsp;&nbsp;&nbsp;&nbsp;24540 |
| INVISIO AB | &nbsp;&nbsp;&nbsp;&nbsp;540 | &nbsp;&nbsp;&nbsp;&nbsp;20385 |
| ISS A/S | &nbsp;&nbsp;6026 | &nbsp;&nbsp;&nbsp;&nbsp;168190 |
| Jeudan A/S | &nbsp;&nbsp;&nbsp;&nbsp;380 | &nbsp;&nbsp;&nbsp;&nbsp;12919 |
| Jyske Bank A/S | &nbsp;&nbsp;1691 | &nbsp;&nbsp;&nbsp;&nbsp;171114 |
| Lan & Spar Bank A/S | &nbsp;&nbsp;&nbsp;&nbsp;198 | &nbsp;&nbsp;&nbsp;&nbsp;25696 |
| Matas A/S | &nbsp;&nbsp;1442 | &nbsp;&nbsp;&nbsp;&nbsp;30403 |
| Netcompany Group A/S (A)(D) | &nbsp;&nbsp;1467 | &nbsp;&nbsp;&nbsp;&nbsp;62809 |
| Nilfisk Holding A/S (A) | &nbsp;&nbsp;1220 | &nbsp;&nbsp;&nbsp;&nbsp;16982 |
| NKT A/S (A) | &nbsp;&nbsp;2207 | &nbsp;&nbsp;&nbsp;&nbsp;179062 |
| NNIT A/S (A)(D) | &nbsp;&nbsp;&nbsp;&nbsp;479 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5052 |
| NTG Nordic Transport Group A/S (A) | &nbsp;&nbsp;&nbsp;&nbsp;635 | &nbsp;&nbsp;&nbsp;&nbsp;18932 |
| Per Aarsleff Holding A/S | &nbsp;&nbsp;&nbsp;&nbsp;584 | &nbsp;&nbsp;&nbsp;&nbsp;60657 |
| Ringkjoebing Landbobank A/S | &nbsp;&nbsp;1037 | &nbsp;&nbsp;&nbsp;&nbsp;226925 |
| ROCKWOOL A/S, A Shares | &nbsp;&nbsp;1300 | &nbsp;&nbsp;&nbsp;&nbsp;60524 |
| ROCKWOOL A/S, B Shares | &nbsp;&nbsp;1808 | &nbsp;&nbsp;&nbsp;&nbsp;84745 |
| Royal Unibrew A/S | &nbsp;&nbsp;1886 | &nbsp;&nbsp;&nbsp;&nbsp;154062 |
| Scandinavian Tobacco Group A/S (D) | &nbsp;&nbsp;2440 | &nbsp;&nbsp;&nbsp;&nbsp;32384 |
| Schouw & Company A/S | &nbsp;&nbsp;&nbsp;&nbsp;398 | &nbsp;&nbsp;&nbsp;&nbsp;37871 |
| Solar A/S, B Shares | &nbsp;&nbsp;&nbsp;&nbsp;410 | &nbsp;&nbsp;&nbsp;&nbsp;20045 |
| SP Group A/S | &nbsp;&nbsp;&nbsp;&nbsp;368 | &nbsp;&nbsp;&nbsp;&nbsp;18232 |
| Sparekassen Sjaelland-Fyn A/S | &nbsp;&nbsp;&nbsp;&nbsp;759 | &nbsp;&nbsp;&nbsp;&nbsp;36338 |
| Sydbank A/S | &nbsp;&nbsp;2392 | &nbsp;&nbsp;&nbsp;&nbsp;177423 |
| TCM Group A/S | &nbsp;&nbsp;&nbsp;&nbsp;507 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6041 |
| Tivoli A/S | &nbsp;&nbsp;&nbsp;&nbsp;102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9876 |
| UIE PLC | &nbsp;&nbsp;1062 | &nbsp;&nbsp;&nbsp;&nbsp;51612 |
| Vestjysk Bank A/S | 22473 | &nbsp;&nbsp;&nbsp;&nbsp;16775 |
| Zealand Pharma A/S (A) | &nbsp;&nbsp;1071 | &nbsp;&nbsp;&nbsp;&nbsp;60064 |
|  |  | 2683508 |
| **Finland - 2.8%** |  |  |
| Aktia Bank OYJ | &nbsp;&nbsp;2136 | &nbsp;&nbsp;&nbsp;&nbsp;24441 |
| Alma Media OYJ | &nbsp;&nbsp;1962 | &nbsp;&nbsp;&nbsp;&nbsp;30828 |
| Bittium OYJ | &nbsp;&nbsp;2708 | &nbsp;&nbsp;&nbsp;&nbsp;27207 |
| Citycon OYJ (A) | &nbsp;&nbsp;4136 | &nbsp;&nbsp;&nbsp;&nbsp;18562 |
| Elisa OYJ | &nbsp;&nbsp;3609 | &nbsp;&nbsp;&nbsp;&nbsp;200594 |
| Enento Group OYJ (D) | &nbsp;&nbsp;&nbsp;&nbsp;860 | &nbsp;&nbsp;&nbsp;&nbsp;17212 |
| EQ OYJ | &nbsp;&nbsp;&nbsp;&nbsp;483 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6145 |
| Finnair OYJ (A) | &nbsp;&nbsp;6510 | &nbsp;&nbsp;&nbsp;&nbsp;20571 |
| Fiskars OYJ ABP | &nbsp;&nbsp;2196 | &nbsp;&nbsp;&nbsp;&nbsp;37150 |
| Harvia OYJ | &nbsp;&nbsp;&nbsp;&nbsp;668 | &nbsp;&nbsp;&nbsp;&nbsp;38169 |
| Hiab OYJ | &nbsp;&nbsp;1532 | &nbsp;&nbsp;&nbsp;&nbsp;92751 |
| HKFoods OYJ (A) | &nbsp;&nbsp;&nbsp;&nbsp;316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;558 |
| Huhtamaki OYJ | &nbsp;&nbsp;3346 | &nbsp;&nbsp;&nbsp;&nbsp;119550 |
| Kalmar OYJ, B Shares | &nbsp;&nbsp;1532 | &nbsp;&nbsp;&nbsp;&nbsp;65170 |
| Kamux Corp. | &nbsp;&nbsp;1688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3932 |
| Kemira OYJ | &nbsp;&nbsp;4412 | &nbsp;&nbsp;&nbsp;&nbsp;102315 |
| Kesko OYJ, A Shares | &nbsp;&nbsp;2102 | &nbsp;&nbsp;&nbsp;&nbsp;50504 |
| Kesko OYJ, B Shares | &nbsp;&nbsp;6750 | &nbsp;&nbsp;&nbsp;&nbsp;166484 |
| Kojamo OYJ (A) | &nbsp;&nbsp;4092 | &nbsp;&nbsp;&nbsp;&nbsp;53158 |
| Konecranes OYJ | &nbsp;&nbsp;2704 | &nbsp;&nbsp;&nbsp;&nbsp;214865 |
| Lassila & Tikanoja OYJ | &nbsp;&nbsp;1929 | &nbsp;&nbsp;&nbsp;&nbsp;21681 |
| Lindex Group OYJ (A) | &nbsp;&nbsp;3912 | &nbsp;&nbsp;&nbsp;&nbsp;12759 |
| Mandatum OYJ | 11066 | &nbsp;&nbsp;&nbsp;&nbsp;72409 |
| Marimekko OYJ | &nbsp;&nbsp;1923 | &nbsp;&nbsp;&nbsp;&nbsp;28033 |
| Metsa Board OYJ, B Shares | &nbsp;&nbsp;6636 | &nbsp;&nbsp;&nbsp;&nbsp;24618 |
| Metso OYJ | 11455 | &nbsp;&nbsp;&nbsp;&nbsp;148455 |
| Nokian Renkaat OYJ (C) | &nbsp;&nbsp;4287 | &nbsp;&nbsp;&nbsp;&nbsp;31022 |
| Olvi OYJ, A Shares | &nbsp;&nbsp;&nbsp;&nbsp;721 | &nbsp;&nbsp;&nbsp;&nbsp;28499 |
| Oma Saastopankki OYJ | &nbsp;&nbsp;&nbsp;&nbsp;490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4858 |
| Oriola OYJ, B Shares | &nbsp;&nbsp;9290 | &nbsp;&nbsp;&nbsp;&nbsp;11473 |
| Orion OYJ, Class A | &nbsp;&nbsp;&nbsp;&nbsp;711 | &nbsp;&nbsp;&nbsp;&nbsp;52984 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 52 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### International Small Company Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Finland (continued)** |  |  |
| Orion OYJ, Class B | &nbsp;&nbsp;3859 | $&nbsp;&nbsp;&nbsp;&nbsp;290327 |
| Outokumpu OYJ (C) | 11396 | &nbsp;&nbsp;&nbsp;&nbsp;47145 |
| Pihlajalinna OYJ | &nbsp;&nbsp;1193 | &nbsp;&nbsp;&nbsp;&nbsp;22057 |
| Ponsse OYJ | &nbsp;&nbsp;&nbsp;&nbsp;543 | &nbsp;&nbsp;&nbsp;&nbsp;17339 |
| Puuilo OYJ | &nbsp;&nbsp;3674 | &nbsp;&nbsp;&nbsp;&nbsp;56507 |
| QT Group OYJ (A) | &nbsp;&nbsp;&nbsp;&nbsp;770 | &nbsp;&nbsp;&nbsp;&nbsp;52161 |
| Raisio OYJ, V Shares | &nbsp;&nbsp;8267 | &nbsp;&nbsp;&nbsp;&nbsp;24069 |
| Rapala VMC OYJ (A) | &nbsp;&nbsp;&nbsp;&nbsp;908 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1315 |
| Revenio Group OYJ | &nbsp;&nbsp;&nbsp;&nbsp;802 | &nbsp;&nbsp;&nbsp;&nbsp;26205 |
| Sampo OYJ, A Shares | 12480 | &nbsp;&nbsp;&nbsp;&nbsp;132864 |
| Sanoma OYJ | &nbsp;&nbsp;2692 | &nbsp;&nbsp;&nbsp;&nbsp;31427 |
| Stora Enso OYJ, R Shares | 11015 | &nbsp;&nbsp;&nbsp;&nbsp;119751 |
| Taaleri OYJ | &nbsp;&nbsp;&nbsp;&nbsp;956 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7943 |
| Talenom OYJ | &nbsp;&nbsp;&nbsp;&nbsp;637 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2947 |
| Terveystalo OYJ (D) | &nbsp;&nbsp;4887 | &nbsp;&nbsp;&nbsp;&nbsp;66024 |
| TietoEVRY OYJ | &nbsp;&nbsp;3237 | &nbsp;&nbsp;&nbsp;&nbsp;61386 |
| Tokmanni Group Corp. | &nbsp;&nbsp;1481 | &nbsp;&nbsp;&nbsp;&nbsp;18417 |
| Vaisala OYJ, A Shares | &nbsp;&nbsp;&nbsp;&nbsp;952 | &nbsp;&nbsp;&nbsp;&nbsp;55673 |
| Valmet OYJ | &nbsp;&nbsp;5558 | &nbsp;&nbsp;&nbsp;&nbsp;172254 |
| Verkkokauppa.com OYJ (A) | &nbsp;&nbsp;1047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3161 |
| WithSecure OYJ (A) | &nbsp;&nbsp;7159 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8504 |
| YIT OYJ (A) | &nbsp;&nbsp;8449 | &nbsp;&nbsp;&nbsp;&nbsp;23660 |
|  |  | 2968093 |
| **France - 5.4%** |  |  |
| 74Software SA (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;727 | &nbsp;&nbsp;&nbsp;&nbsp;34583 |
| ABC arbitrage | &nbsp;&nbsp;2016 | &nbsp;&nbsp;&nbsp;&nbsp;15064 |
| AKWEL SADIR | &nbsp;&nbsp;&nbsp;&nbsp;725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7046 |
| Alstom SA (A) | &nbsp;&nbsp;8797 | &nbsp;&nbsp;&nbsp;&nbsp;205331 |
| Altamir | &nbsp;&nbsp;&nbsp;&nbsp;752 | &nbsp;&nbsp;&nbsp;&nbsp;25312 |
| Alten SA | &nbsp;&nbsp;&nbsp;&nbsp;815 | &nbsp;&nbsp;&nbsp;&nbsp;71671 |
| Arkema SA | &nbsp;&nbsp;1679 | &nbsp;&nbsp;&nbsp;&nbsp;123984 |
| Ayvens SA (D) | &nbsp;&nbsp;5316 | &nbsp;&nbsp;&nbsp;&nbsp;59225 |
| Bastide le Confort Medical (A) | &nbsp;&nbsp;&nbsp;&nbsp;256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9449 |
| Beneteau SACA | &nbsp;&nbsp;2130 | &nbsp;&nbsp;&nbsp;&nbsp;19594 |
| Boiron SA | &nbsp;&nbsp;&nbsp;&nbsp;274 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7245 |
| Bonduelle SCA | &nbsp;&nbsp;1027 | &nbsp;&nbsp;&nbsp;&nbsp;10364 |
| Carrefour SA | &nbsp;&nbsp;1885 | &nbsp;&nbsp;&nbsp;&nbsp;26590 |
| Catana Group | &nbsp;&nbsp;1588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6177 |
| Cegedim SA (A) | &nbsp;&nbsp;&nbsp;&nbsp;495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6125 |
| Cie des Alpes | &nbsp;&nbsp;&nbsp;&nbsp;998 | &nbsp;&nbsp;&nbsp;&nbsp;24232 |
| Claranova SE (A) | &nbsp;&nbsp;1250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3733 |
| Clariane SE (A) | &nbsp;&nbsp;9440 | &nbsp;&nbsp;&nbsp;&nbsp;57843 |
| Coface SA | &nbsp;&nbsp;5623 | &nbsp;&nbsp;&nbsp;&nbsp;107947 |
| Derichebourg SA | &nbsp;&nbsp;3889 | &nbsp;&nbsp;&nbsp;&nbsp;26429 |
| Edenred SE | &nbsp;&nbsp;2126 | &nbsp;&nbsp;&nbsp;&nbsp;66035 |
| Ekinops SAS (A) | &nbsp;&nbsp;1302 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6898 |
| Electricite de Strasbourg SA | &nbsp;&nbsp;&nbsp;&nbsp;31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5154 |
| Elior Group SA (A)(D) | &nbsp;&nbsp;2910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8893 |
| Elis SA | &nbsp;&nbsp;7848 | &nbsp;&nbsp;&nbsp;&nbsp;225171 |
| Equasens | &nbsp;&nbsp;&nbsp;&nbsp;92 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5302 |
| Eramet SA (C) | &nbsp;&nbsp;&nbsp;&nbsp;530 | &nbsp;&nbsp;&nbsp;&nbsp;28705 |
| Esso SA Francaise | &nbsp;&nbsp;&nbsp;&nbsp;96 | &nbsp;&nbsp;&nbsp;&nbsp;16995 |
| Etablissements Maurel et Prom SA | &nbsp;&nbsp;4375 | &nbsp;&nbsp;&nbsp;&nbsp;24781 |
| Eurazeo SE | &nbsp;&nbsp;1843 | &nbsp;&nbsp;&nbsp;&nbsp;131761 |
| Eutelsat Communications SACA (A)(C) | &nbsp;&nbsp;6192 | &nbsp;&nbsp;&nbsp;&nbsp;27064 |
| Exel Industries SA, A Shares | &nbsp;&nbsp;&nbsp;&nbsp;89 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4193 |
| FDJ UNITED (D) | &nbsp;&nbsp;4245 | &nbsp;&nbsp;&nbsp;&nbsp;166576 |
| Fnac Darty SA | &nbsp;&nbsp;&nbsp;&nbsp;779 | &nbsp;&nbsp;&nbsp;&nbsp;30877 |
| Forvia SE (A) | &nbsp;&nbsp;4253 | &nbsp;&nbsp;&nbsp;&nbsp;43329 |
| Gaztransport Et Technigaz SA | &nbsp;&nbsp;1530 | &nbsp;&nbsp;&nbsp;&nbsp;302670 |
| Getlink SE | &nbsp;&nbsp;3464 | &nbsp;&nbsp;&nbsp;&nbsp;66869 |
| Groupe Crit SA | &nbsp;&nbsp;&nbsp;&nbsp;163 | &nbsp;&nbsp;&nbsp;&nbsp;13794 |
| Guerbet | &nbsp;&nbsp;&nbsp;&nbsp;326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8440 |
| Haulotte Group SA (A) | &nbsp;&nbsp;&nbsp;&nbsp;962 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2741 |
| ID Logistics Group SACA (A) | &nbsp;&nbsp;&nbsp;&nbsp;162 | &nbsp;&nbsp;&nbsp;&nbsp;78734 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **France (continued)** |  |  |
| Imerys SA | &nbsp;&nbsp;1475 | $&nbsp;&nbsp;&nbsp;&nbsp;48549 |
| Infotel SA | &nbsp;&nbsp;&nbsp;&nbsp;348 | &nbsp;&nbsp;&nbsp;&nbsp;15830 |
| Interparfums SA | &nbsp;&nbsp;&nbsp;&nbsp;327 | &nbsp;&nbsp;&nbsp;&nbsp;12704 |
| Ipsen SA | &nbsp;&nbsp;&nbsp;&nbsp;517 | &nbsp;&nbsp;&nbsp;&nbsp;61584 |
| IPSOS SA | &nbsp;&nbsp;1725 | &nbsp;&nbsp;&nbsp;&nbsp;92655 |
| Jacquet Metals SACA | &nbsp;&nbsp;1024 | &nbsp;&nbsp;&nbsp;&nbsp;26678 |
| JCDecaux SE | &nbsp;&nbsp;1836 | &nbsp;&nbsp;&nbsp;&nbsp;33588 |
| Kaufman & Broad SA | &nbsp;&nbsp;&nbsp;&nbsp;593 | &nbsp;&nbsp;&nbsp;&nbsp;23120 |
| Laurent-Perrier | &nbsp;&nbsp;&nbsp;&nbsp;110 | &nbsp;&nbsp;&nbsp;&nbsp;12153 |
| LISI SA | &nbsp;&nbsp;&nbsp;&nbsp;419 | &nbsp;&nbsp;&nbsp;&nbsp;18667 |
| LNA Sante SA | &nbsp;&nbsp;&nbsp;&nbsp;166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4950 |
| Lumibird (A) | &nbsp;&nbsp;&nbsp;&nbsp;632 | &nbsp;&nbsp;&nbsp;&nbsp;13794 |
| Maisons du Monde SA (D) | &nbsp;&nbsp;1925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5129 |
| Manitou BF SA | &nbsp;&nbsp;&nbsp;&nbsp;530 | &nbsp;&nbsp;&nbsp;&nbsp;13071 |
| Mersen SA | &nbsp;&nbsp;1063 | &nbsp;&nbsp;&nbsp;&nbsp;27751 |
| Metropole Television SA | &nbsp;&nbsp;1324 | &nbsp;&nbsp;&nbsp;&nbsp;20493 |
| Nacon SA (A) | &nbsp;&nbsp;&nbsp;&nbsp;518 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;438 |
| Nexans SA | &nbsp;&nbsp;1314 | &nbsp;&nbsp;&nbsp;&nbsp;171949 |
| Nexity SA (A) | &nbsp;&nbsp;1974 | &nbsp;&nbsp;&nbsp;&nbsp;22262 |
| NRJ Group | &nbsp;&nbsp;&nbsp;&nbsp;782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6741 |
| Opmobility | &nbsp;&nbsp;2278 | &nbsp;&nbsp;&nbsp;&nbsp;29119 |
| OVH Groupe SA (A) | &nbsp;&nbsp;&nbsp;&nbsp;37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476 |
| Pierre Et Vacances SA (A) | 10785 | &nbsp;&nbsp;&nbsp;&nbsp;22311 |
| Pluxee NV | &nbsp;&nbsp;2176 | &nbsp;&nbsp;&nbsp;&nbsp;47445 |
| Quadient SA | &nbsp;&nbsp;1652 | &nbsp;&nbsp;&nbsp;&nbsp;30968 |
| Remy Cointreau SA | &nbsp;&nbsp;&nbsp;&nbsp;189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9661 |
| Rexel SA | &nbsp;&nbsp;8582 | &nbsp;&nbsp;&nbsp;&nbsp;264693 |
| Robertet SA | &nbsp;&nbsp;&nbsp;&nbsp;12 | &nbsp;&nbsp;&nbsp;&nbsp;11252 |
| Rubis SCA | &nbsp;&nbsp;3578 | &nbsp;&nbsp;&nbsp;&nbsp;115689 |
| Samse SACA | &nbsp;&nbsp;&nbsp;&nbsp;48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8771 |
| Savencia SA | &nbsp;&nbsp;&nbsp;&nbsp;372 | &nbsp;&nbsp;&nbsp;&nbsp;28226 |
| SCOR SE | &nbsp;&nbsp;6971 | &nbsp;&nbsp;&nbsp;&nbsp;231522 |
| SEB SA | &nbsp;&nbsp;1048 | &nbsp;&nbsp;&nbsp;&nbsp;99074 |
| Seche Environnement SACA | &nbsp;&nbsp;&nbsp;&nbsp;126 | &nbsp;&nbsp;&nbsp;&nbsp;14933 |
| SMCP SA (A)(D) | &nbsp;&nbsp;1921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9696 |
| Societe BIC SA | &nbsp;&nbsp;1106 | &nbsp;&nbsp;&nbsp;&nbsp;68879 |
| Societe LDC SADIR | &nbsp;&nbsp;&nbsp;&nbsp;424 | &nbsp;&nbsp;&nbsp;&nbsp;44231 |
| Sodexo SA | &nbsp;&nbsp;1017 | &nbsp;&nbsp;&nbsp;&nbsp;62593 |
| SOITEC (A) | &nbsp;&nbsp;&nbsp;&nbsp;623 | &nbsp;&nbsp;&nbsp;&nbsp;34353 |
| Sopra Steria Group | &nbsp;&nbsp;&nbsp;&nbsp;690 | &nbsp;&nbsp;&nbsp;&nbsp;168232 |
| SPIE SA | &nbsp;&nbsp;5882 | &nbsp;&nbsp;&nbsp;&nbsp;330749 |
| Stef SA | &nbsp;&nbsp;&nbsp;&nbsp;202 | &nbsp;&nbsp;&nbsp;&nbsp;31233 |
| Synergie SE | &nbsp;&nbsp;&nbsp;&nbsp;557 | &nbsp;&nbsp;&nbsp;&nbsp;20998 |
| Technip Energies NV | &nbsp;&nbsp;6139 | &nbsp;&nbsp;&nbsp;&nbsp;258284 |
| Teleperformance SE | &nbsp;&nbsp;1915 | &nbsp;&nbsp;&nbsp;&nbsp;185999 |
| Television Francaise 1 SA | &nbsp;&nbsp;1491 | &nbsp;&nbsp;&nbsp;&nbsp;15489 |
| Thermador Groupe | &nbsp;&nbsp;&nbsp;&nbsp;453 | &nbsp;&nbsp;&nbsp;&nbsp;39338 |
| Tikehau Capital SCA | &nbsp;&nbsp;1543 | &nbsp;&nbsp;&nbsp;&nbsp;34507 |
| Trigano SA | &nbsp;&nbsp;&nbsp;&nbsp;395 | &nbsp;&nbsp;&nbsp;&nbsp;69028 |
| Ubisoft Entertainment SA (A) | &nbsp;&nbsp;3448 | &nbsp;&nbsp;&nbsp;&nbsp;38226 |
| Valeo SE | &nbsp;&nbsp;8798 | &nbsp;&nbsp;&nbsp;&nbsp;96574 |
| Vallourec SACA | &nbsp;&nbsp;7651 | &nbsp;&nbsp;&nbsp;&nbsp;141132 |
| Verallia SA (D) | &nbsp;&nbsp;2947 | &nbsp;&nbsp;&nbsp;&nbsp;97986 |
| Vetoquinol SA | &nbsp;&nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9181 |
| Vicat SACA | &nbsp;&nbsp;&nbsp;&nbsp;942 | &nbsp;&nbsp;&nbsp;&nbsp;65266 |
| Virbac SACA | &nbsp;&nbsp;&nbsp;&nbsp;67 | &nbsp;&nbsp;&nbsp;&nbsp;25220 |
| Viridien (A) | &nbsp;&nbsp;&nbsp;&nbsp;424 | &nbsp;&nbsp;&nbsp;&nbsp;30153 |
| Vivendi SE (A) | 21868 | &nbsp;&nbsp;&nbsp;&nbsp;75435 |
| Voltalia SA (A)(C) | &nbsp;&nbsp;1403 | &nbsp;&nbsp;&nbsp;&nbsp;14268 |
| Wavestone | &nbsp;&nbsp;&nbsp;&nbsp;134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9350 |
| Worldline SA (A)(D) | &nbsp;&nbsp;5431 | &nbsp;&nbsp;&nbsp;&nbsp;22964 |
|  |  | 5658536 |
| **Georgia - 0.1%** |  |  |
| Georgia Capital PLC (A) | &nbsp;&nbsp;1145 | &nbsp;&nbsp;&nbsp;&nbsp;30254 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 53 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### International Small Company Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Georgia (continued)** |  |  |
| TBC Bank Group PLC | &nbsp;&nbsp;1983 | $126343 |
|  |  | 156597 |
| **Germany - 5.8%** |  |  |
| 1&1 AG | &nbsp;&nbsp;&nbsp;&nbsp;881 | &nbsp;&nbsp;&nbsp;19360 |
| 7C Solarparken AG (A) | &nbsp;&nbsp;3282 | &nbsp;&nbsp;&nbsp;&nbsp;6905 |
| Adesso SE | &nbsp;&nbsp;&nbsp;&nbsp;207 | &nbsp;&nbsp;&nbsp;21677 |
| Adtran Networks SE | &nbsp;&nbsp;&nbsp;&nbsp;804 | &nbsp;&nbsp;&nbsp;19217 |
| All for One Group SE | &nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp;&nbsp;8573 |
| Allgeier SE | &nbsp;&nbsp;&nbsp;&nbsp;498 | &nbsp;&nbsp;&nbsp;11638 |
| AlzChem Group AG | &nbsp;&nbsp;&nbsp;&nbsp;439 | &nbsp;&nbsp;&nbsp;71875 |
| Amadeus Fire AG (C) | &nbsp;&nbsp;&nbsp;&nbsp;264 | &nbsp;&nbsp;&nbsp;25114 |
| Atoss Software SE | &nbsp;&nbsp;&nbsp;&nbsp;436 | &nbsp;&nbsp;&nbsp;72492 |
| Aurubis AG | &nbsp;&nbsp;1338 | 139339 |
| Auto1 Group SE (A)(D) | &nbsp;&nbsp;1150 | &nbsp;&nbsp;&nbsp;37232 |
| Basler AG (A) | &nbsp;&nbsp;&nbsp;&nbsp;486 | &nbsp;&nbsp;&nbsp;&nbsp;7046 |
| BayWa AG (A) | &nbsp;&nbsp;&nbsp;&nbsp;669 | &nbsp;&nbsp;&nbsp;&nbsp;7111 |
| Bechtle AG | &nbsp;&nbsp;3835 | 180028 |
| Bertrandt AG | &nbsp;&nbsp;&nbsp;&nbsp;394 | &nbsp;&nbsp;&nbsp;&nbsp;9464 |
| Bijou Brigitte AG | &nbsp;&nbsp;&nbsp;&nbsp;340 | &nbsp;&nbsp;&nbsp;15738 |
| Bilfinger SE | &nbsp;&nbsp;1375 | 132354 |
| Borussia Dortmund GmbH & Company KGaA | &nbsp;&nbsp;4276 | &nbsp;&nbsp;&nbsp;19773 |
| BRANICKS Group AG (A)(C) | &nbsp;&nbsp;3005 | &nbsp;&nbsp;&nbsp;&nbsp;7199 |
| Brenntag SE | &nbsp;&nbsp;1821 | 120641 |
| CANCOM SE | &nbsp;&nbsp;&nbsp;&nbsp;314 | &nbsp;&nbsp;&nbsp;10381 |
| CECONOMY AG (A) | &nbsp;&nbsp;8144 | &nbsp;&nbsp;&nbsp;34759 |
| CENIT AG (A) | &nbsp;&nbsp;&nbsp;&nbsp;446 | &nbsp;&nbsp;&nbsp;&nbsp;4596 |
| Cewe Stiftung & Company KGAA | &nbsp;&nbsp;&nbsp;&nbsp;268 | &nbsp;&nbsp;&nbsp;31005 |
| CTS Eventim AG & Company KGaA | &nbsp;&nbsp;1216 | 151211 |
| Dermapharm Holding SE | &nbsp;&nbsp;&nbsp;&nbsp;849 | &nbsp;&nbsp;&nbsp;34699 |
| Deutsche Beteiligungs AG | &nbsp;&nbsp;&nbsp;&nbsp;631 | &nbsp;&nbsp;&nbsp;19189 |
| Deutsche EuroShop AG | &nbsp;&nbsp;&nbsp;&nbsp;514 | &nbsp;&nbsp;&nbsp;12398 |
| Deutsche Pfandbriefbank AG (D) | &nbsp;&nbsp;6014 | &nbsp;&nbsp;&nbsp;37252 |
| Deutsche Wohnen SE | &nbsp;&nbsp;&nbsp;&nbsp;952 | &nbsp;&nbsp;&nbsp;27137 |
| Deutz AG | &nbsp;&nbsp;3432 | &nbsp;&nbsp;&nbsp;30940 |
| Dr. Hoenle AG (A) | &nbsp;&nbsp;&nbsp;&nbsp;420 | &nbsp;&nbsp;&nbsp;&nbsp;4688 |
| Draegerwerk AG & Company KGaA | &nbsp;&nbsp;&nbsp;&nbsp;82 | &nbsp;&nbsp;&nbsp;&nbsp;5512 |
| Duerr AG | &nbsp;&nbsp;2044 | &nbsp;&nbsp;&nbsp;54526 |
| Eckert & Ziegler SE | &nbsp;&nbsp;&nbsp;&nbsp;808 | &nbsp;&nbsp;&nbsp;65022 |
| Elmos Semiconductor SE | &nbsp;&nbsp;&nbsp;&nbsp;331 | &nbsp;&nbsp;&nbsp;35028 |
| ElringKlinger AG | &nbsp;&nbsp;2576 | &nbsp;&nbsp;&nbsp;13735 |
| Energiekontor AG | &nbsp;&nbsp;&nbsp;&nbsp;454 | &nbsp;&nbsp;&nbsp;23442 |
| Evonik Industries AG | &nbsp;&nbsp;3922 | &nbsp;&nbsp;&nbsp;81023 |
| Evotec SE (A) | &nbsp;&nbsp;1508 | &nbsp;&nbsp;&nbsp;12838 |
| Fielmann Group AG | &nbsp;&nbsp;1241 | &nbsp;&nbsp;&nbsp;82956 |
| flatexDEGIRO AG | &nbsp;&nbsp;4062 | 115024 |
| Fraport AG Frankfurt Airport Services Worldwide (A) | &nbsp;&nbsp;1682 | 126890 |
| Freenet AG | &nbsp;&nbsp;5085 | 165769 |
| Friedrich Vorwerk Group SE | &nbsp;&nbsp;1234 | &nbsp;&nbsp;&nbsp;85270 |
| FUCHS SE | &nbsp;&nbsp;1198 | &nbsp;&nbsp;&nbsp;49758 |
| GEA Group AG | &nbsp;&nbsp;4017 | 281593 |
| Gerresheimer AG | &nbsp;&nbsp;1792 | 101200 |
| GFT Technologies SE | &nbsp;&nbsp;&nbsp;&nbsp;961 | &nbsp;&nbsp;&nbsp;28292 |
| GRENKE AG | &nbsp;&nbsp;&nbsp;&nbsp;983 | &nbsp;&nbsp;&nbsp;18042 |
| H&R GmbH & Company KGaA | &nbsp;&nbsp;1324 | &nbsp;&nbsp;&nbsp;&nbsp;7692 |
| Heidelberger Druckmaschinen AG (A) | 18003 | &nbsp;&nbsp;&nbsp;31500 |
| HelloFresh SE (A)(C) | &nbsp;&nbsp;6865 | &nbsp;&nbsp;&nbsp;64495 |
| Hensoldt AG | &nbsp;&nbsp;2642 | 303484 |
| Hornbach Holding AG & Company KGaA | &nbsp;&nbsp;&nbsp;&nbsp;497 | &nbsp;&nbsp;&nbsp;62151 |
| HUGO BOSS AG | &nbsp;&nbsp;1924 | &nbsp;&nbsp;&nbsp;89153 |
| Indus Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;776 | &nbsp;&nbsp;&nbsp;20868 |
| Init Innovation in Traffic Systems SE | &nbsp;&nbsp;&nbsp;&nbsp;364 | &nbsp;&nbsp;&nbsp;16302 |
| Instone Real Estate Group SE (D) | &nbsp;&nbsp;2299 | &nbsp;&nbsp;&nbsp;26139 |
| IVU Traffic Technologies AG | &nbsp;&nbsp;&nbsp;&nbsp;665 | &nbsp;&nbsp;&nbsp;15046 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Germany (continued)** |  |  |
| Jenoptik AG | &nbsp;&nbsp;2248 | $&nbsp;&nbsp;&nbsp;&nbsp;51892 |
| JOST Werke SE (D) | &nbsp;&nbsp;&nbsp;&nbsp;517 | &nbsp;&nbsp;&nbsp;&nbsp;32764 |
| K+S AG | &nbsp;&nbsp;7752 | &nbsp;&nbsp;&nbsp;&nbsp;142196 |
| KION Group AG | &nbsp;&nbsp;2944 | &nbsp;&nbsp;&nbsp;&nbsp;164446 |
| Knaus Tabbert AG (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;203 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3209 |
| Koenig & Bauer AG (A) | &nbsp;&nbsp;&nbsp;&nbsp;912 | &nbsp;&nbsp;&nbsp;&nbsp;14756 |
| Krones AG | &nbsp;&nbsp;&nbsp;&nbsp;639 | &nbsp;&nbsp;&nbsp;&nbsp;105482 |
| KWS Saat SE & Company KGaA | &nbsp;&nbsp;&nbsp;&nbsp;556 | &nbsp;&nbsp;&nbsp;&nbsp;40429 |
| LANXESS AG | &nbsp;&nbsp;3724 | &nbsp;&nbsp;&nbsp;&nbsp;111033 |
| LEG Immobilien SE | &nbsp;&nbsp;3351 | &nbsp;&nbsp;&nbsp;&nbsp;298278 |
| Leifheit AG | &nbsp;&nbsp;&nbsp;&nbsp;437 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8155 |
| Medios AG (A) | &nbsp;&nbsp;&nbsp;&nbsp;842 | &nbsp;&nbsp;&nbsp;&nbsp;12456 |
| MLP SE | &nbsp;&nbsp;4791 | &nbsp;&nbsp;&nbsp;&nbsp;47648 |
| Mutares SE & Company KGaA | &nbsp;&nbsp;&nbsp;&nbsp;663 | &nbsp;&nbsp;&nbsp;&nbsp;28290 |
| Nagarro SE (A) | &nbsp;&nbsp;&nbsp;&nbsp;394 | &nbsp;&nbsp;&nbsp;&nbsp;28200 |
| Nordex SE (A) | &nbsp;&nbsp;2050 | &nbsp;&nbsp;&nbsp;&nbsp;40677 |
| Norma Group SE | &nbsp;&nbsp;1576 | &nbsp;&nbsp;&nbsp;&nbsp;25440 |
| PATRIZIA SE | &nbsp;&nbsp;2719 | &nbsp;&nbsp;&nbsp;&nbsp;26344 |
| ProSiebenSat.1 Media SE | &nbsp;&nbsp;5491 | &nbsp;&nbsp;&nbsp;&nbsp;46316 |
| Puma SE | &nbsp;&nbsp;3370 | &nbsp;&nbsp;&nbsp;&nbsp;92109 |
| Rational AG | &nbsp;&nbsp;&nbsp;&nbsp;41 | &nbsp;&nbsp;&nbsp;&nbsp;34452 |
| SAF-Holland SE | &nbsp;&nbsp;1157 | &nbsp;&nbsp;&nbsp;&nbsp;23335 |
| Salzgitter AG | &nbsp;&nbsp;&nbsp;&nbsp;712 | &nbsp;&nbsp;&nbsp;&nbsp;17240 |
| Schaeffler AG | &nbsp;&nbsp;2740 | &nbsp;&nbsp;&nbsp;&nbsp;14696 |
| Scout24 SE (D) | &nbsp;&nbsp;&nbsp;&nbsp;86 | &nbsp;&nbsp;&nbsp;&nbsp;11872 |
| Secunet Security Networks AG | &nbsp;&nbsp;&nbsp;&nbsp;98 | &nbsp;&nbsp;&nbsp;&nbsp;26466 |
| SGL Carbon SE (A)(C) | &nbsp;&nbsp;3072 | &nbsp;&nbsp;&nbsp;&nbsp;12722 |
| Siltronic AG | &nbsp;&nbsp;&nbsp;&nbsp;272 | &nbsp;&nbsp;&nbsp;&nbsp;13094 |
| Sixt SE | &nbsp;&nbsp;&nbsp;&nbsp;470 | &nbsp;&nbsp;&nbsp;&nbsp;45867 |
| SMA Solar Technology AG (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;839 | &nbsp;&nbsp;&nbsp;&nbsp;21082 |
| Stabilus SE | &nbsp;&nbsp;&nbsp;&nbsp;794 | &nbsp;&nbsp;&nbsp;&nbsp;25912 |
| STRATEC SE | &nbsp;&nbsp;&nbsp;&nbsp;258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7985 |
| Stroeer SE & Company KGaA | &nbsp;&nbsp;1436 | &nbsp;&nbsp;&nbsp;&nbsp;86204 |
| Suedzucker AG | &nbsp;&nbsp;2959 | &nbsp;&nbsp;&nbsp;&nbsp;38920 |
| SUSS MicroTec SE | &nbsp;&nbsp;&nbsp;&nbsp;644 | &nbsp;&nbsp;&nbsp;&nbsp;35396 |
| TAG Immobilien AG | &nbsp;&nbsp;7296 | &nbsp;&nbsp;&nbsp;&nbsp;130111 |
| Takkt AG | &nbsp;&nbsp;1848 | &nbsp;&nbsp;&nbsp;&nbsp;14484 |
| TeamViewer SE (A)(D) | &nbsp;&nbsp;6009 | &nbsp;&nbsp;&nbsp;&nbsp;67814 |
| Technotrans SE | &nbsp;&nbsp;&nbsp;&nbsp;530 | &nbsp;&nbsp;&nbsp;&nbsp;13410 |
| thyssenkrupp AG | 22583 | &nbsp;&nbsp;&nbsp;&nbsp;243405 |
| TUI AG (A) | 10183 | &nbsp;&nbsp;&nbsp;&nbsp;89237 |
| United Internet AG | &nbsp;&nbsp;3058 | &nbsp;&nbsp;&nbsp;&nbsp;85283 |
| Verbio SE (C) | &nbsp;&nbsp;1012 | &nbsp;&nbsp;&nbsp;&nbsp;14557 |
| Vossloh AG | &nbsp;&nbsp;&nbsp;&nbsp;255 | &nbsp;&nbsp;&nbsp;&nbsp;25436 |
| Wacker Chemie AG (C) | &nbsp;&nbsp;&nbsp;&nbsp;591 | &nbsp;&nbsp;&nbsp;&nbsp;43338 |
| Wacker Neuson SE | &nbsp;&nbsp;1493 | &nbsp;&nbsp;&nbsp;&nbsp;42821 |
| Washtec AG | &nbsp;&nbsp;&nbsp;&nbsp;611 | &nbsp;&nbsp;&nbsp;&nbsp;29069 |
| Westwing Group SE (A) | &nbsp;&nbsp;&nbsp;&nbsp;132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1238 |
| Wuestenrot & Wuerttembergische AG | &nbsp;&nbsp;1566 | &nbsp;&nbsp;&nbsp;&nbsp;25208 |
| Zalando SE (A)(D) | &nbsp;&nbsp;6959 | &nbsp;&nbsp;&nbsp;&nbsp;229629 |
|  |  | 6104184 |
| **Greece - 0.0%** |  |  |
| Alapis Holding Industrial and Commercial SA of Pharmaceutical Chemical Products (A)(B) | &nbsp;&nbsp;3303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72 |
| Okeanis Eco Tankers Corp. (C)(D) | &nbsp;&nbsp;&nbsp;&nbsp;733 | &nbsp;&nbsp;&nbsp;&nbsp;15798 |
| TT Hellenic Postbank SA (A)(B) | 12594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;15870 |
| **Guernsey, Channel Islands - 0.0%** |  |  |
| Raven Property Group, Ltd. (A)(B) | &nbsp;&nbsp;4994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| **Hong Kong - 1.8%** |  |  |
| 3D-Gold Jewellery Holdings, Ltd. (A)(B) | 90000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| APAC Resources, Ltd. | 20467 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3211 |
| Apollo Future Mobility Group, Ltd. (A) | &nbsp;&nbsp;2800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;297 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 54 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### International Small Company Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Hong Kong (continued)** |  |  |
| Asia Financial Holdings, Ltd. | &nbsp;&nbsp;14000 | $&nbsp;&nbsp;&nbsp;7229 |
| Associated International Hotels, Ltd. | &nbsp;&nbsp;28000 | 18114 |
| Brightoil Petroleum Holdings, Ltd. (A)(B) | 117000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Burwill Holdings, Ltd. (A)(B) | 292000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Cafe de Coral Holdings, Ltd. | &nbsp;&nbsp;18000 | 15878 |
| Chen Hsong Holdings | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;2027 |
| Cheuk Nang Holdings, Ltd. | &nbsp;&nbsp;&nbsp;3708 | &nbsp;&nbsp;&nbsp;&nbsp;710 |
| China Energy Development Holdings, Ltd. (A) | 634000 | &nbsp;&nbsp;&nbsp;3960 |
| China Solar Energy Holdings, Ltd. (A)(B) | &nbsp;&nbsp;42500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Chinese Estates Holdings, Ltd. | &nbsp;&nbsp;22000 | &nbsp;&nbsp;&nbsp;3757 |
| Chow Sang Sang Holdings International, Ltd. | &nbsp;&nbsp;22000 | 23906 |
| Chuang's Consortium International, Ltd. (A) | &nbsp;&nbsp;30948 | &nbsp;&nbsp;&nbsp;1402 |
| CITIC Telecom International Holdings, Ltd. | &nbsp;&nbsp;59000 | 18043 |
| C-Mer Medical Holdings, Ltd. | &nbsp;&nbsp;18000 | &nbsp;&nbsp;&nbsp;4139 |
| Cowell e Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;8000 | 27839 |
| Crystal International Group, Ltd. (D) | &nbsp;&nbsp;19000 | 11326 |
| CSC Holdings, Ltd. (A) | 885000 | &nbsp;&nbsp;&nbsp;3594 |
| CSI Properties, Ltd. (A) | 343092 | &nbsp;&nbsp;&nbsp;7672 |
| CTF Services, Ltd. | &nbsp;&nbsp;53000 | 50390 |
| Dah Sing Banking Group, Ltd. | &nbsp;&nbsp;18000 | 20870 |
| Dah Sing Financial Holdings, Ltd. | &nbsp;&nbsp;&nbsp;6520 | 24730 |
| DFI Retail Group Holdings, Ltd. | &nbsp;&nbsp;&nbsp;7100 | 19614 |
| EC Healthcare | &nbsp;&nbsp;13000 | &nbsp;&nbsp;&nbsp;&nbsp;979 |
| EganaGoldpfeil Holdings, Ltd. (A)(B) | 103373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Emperor International Holdings, Ltd. | &nbsp;&nbsp;97333 | &nbsp;&nbsp;&nbsp;2612 |
| Esprit Holdings, Ltd. (A)(B) | 176850 | &nbsp;&nbsp;&nbsp;2208 |
| ESR Group, Ltd. (A)(D) | &nbsp;&nbsp;11400 | 18879 |
| Fairwood Holdings, Ltd. | &nbsp;&nbsp;&nbsp;3500 | &nbsp;&nbsp;&nbsp;2413 |
| Far East Consortium International, Ltd. | &nbsp;&nbsp;98508 | 10536 |
| First Pacific Company, Ltd. | &nbsp;&nbsp;76000 | 53870 |
| Giordano International, Ltd. | &nbsp;&nbsp;82000 | 15035 |
| Gold-Finance Holdings, Ltd. (A)(B) | &nbsp;&nbsp;62000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| GR Life Style Company, Ltd. (A) | &nbsp;&nbsp;82000 | &nbsp;&nbsp;&nbsp;6789 |
| Great Eagle Holdings, Ltd. | &nbsp;&nbsp;10516 | 18389 |
| G-Resources Group, Ltd. | &nbsp;&nbsp;13580 | 15948 |
| Guotai Junan International Holdings, Ltd. (C) | 207000 | 90903 |
| Hang Lung Group, Ltd. | &nbsp;&nbsp;31000 | 53976 |
| Hang Lung Properties, Ltd. | &nbsp;&nbsp;34816 | 33327 |
| Harbour Centre Development, Ltd. | &nbsp;&nbsp;38000 | 19361 |
| HKBN, Ltd. | &nbsp;&nbsp;36000 | 22830 |
| HKR International, Ltd. (A) | &nbsp;&nbsp;51920 | &nbsp;&nbsp;&nbsp;6010 |
| Hong Kong Ferry Holdings Company, Ltd. | &nbsp;&nbsp;29000 | 16992 |
| Hong Kong Technology Venture Company, Ltd. | &nbsp;&nbsp;28000 | &nbsp;&nbsp;&nbsp;5642 |
| Hsin Chong Group Holdings, Ltd. (A)(B) | 170000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Hutchison Port Holdings Trust | 161400 | 28097 |
| Hutchison Telecommunications Hong Kong Holdings, Ltd. | &nbsp;&nbsp;80000 | 10399 |
| Hysan Development Company, Ltd. | &nbsp;&nbsp;25000 | 44935 |
| Johnson Electric Holdings, Ltd. | &nbsp;&nbsp;10193 | 28125 |
| K Wah International Holdings, Ltd. | &nbsp;&nbsp;80000 | 19911 |
| Kerry Properties, Ltd. | &nbsp;&nbsp;23500 | 60828 |
| KLN Logistics Group, Ltd. | &nbsp;&nbsp;16500 | 15974 |
| Kowloon Development Company, Ltd. | &nbsp;&nbsp;24422 | &nbsp;&nbsp;&nbsp;9253 |
| Lai Sun Development Company, Ltd. (A) | &nbsp;&nbsp;22980 | &nbsp;&nbsp;&nbsp;1495 |
| Langham Hospitality Investments, Ltd. | &nbsp;&nbsp;22500 | &nbsp;&nbsp;&nbsp;1551 |
| Liu Chong Hing Investment, Ltd. | &nbsp;&nbsp;16000 | &nbsp;&nbsp;&nbsp;8586 |
| Luk Fook Holdings International, Ltd. | &nbsp;&nbsp;15000 | 38318 |
| Man Wah Holdings, Ltd. | &nbsp;&nbsp;61600 | 33901 |
| Mandarin Oriental International, Ltd. | &nbsp;&nbsp;&nbsp;8000 | 15283 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Hong Kong (continued)** |  |  |
| MH Development, Ltd. (A)(B) | &nbsp;&nbsp;16000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Midland Holdings, Ltd. (A) | &nbsp;&nbsp;34734 | &nbsp;&nbsp;&nbsp;7094 |
| Miramar Hotel & Investment | &nbsp;&nbsp;15000 | 18203 |
| Modern Dental Group, Ltd. | &nbsp;&nbsp;20000 | 10868 |
| New World Development Company, Ltd. (A)(C) | &nbsp;&nbsp;38000 | 27708 |
| NewOcean Energy Holdings, Ltd. (A)(B) | &nbsp;&nbsp;66000 | &nbsp;&nbsp;&nbsp;&nbsp;295 |
| Nissin Foods Company, Ltd. (C) | &nbsp;&nbsp;22000 | 19501 |
| Oriental Watch Holdings | &nbsp;&nbsp;18000 | &nbsp;&nbsp;&nbsp;7821 |
| Oshidori International Holdings, Ltd. (A) | 204000 | 11685 |
| Pacific Andes International Holdings, Ltd. (A)(B) | 328006 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Pacific Basin Shipping, Ltd. | 138000 | 35582 |
| Pacific Textiles Holdings, Ltd. | &nbsp;&nbsp;42000 | &nbsp;&nbsp;&nbsp;6861 |
| Paliburg Holdings, Ltd. (A) | &nbsp;&nbsp;46000 | &nbsp;&nbsp;&nbsp;1788 |
| PC Partner Group, Ltd. | &nbsp;&nbsp;12000 | 10471 |
| PCCW, Ltd. | &nbsp;&nbsp;96590 | 65622 |
| Peace Mark Holdings, Ltd. (A)(B) | 164000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Perfect Medical Health Management, Ltd. | &nbsp;&nbsp;32000 | &nbsp;&nbsp;&nbsp;6936 |
| Pico Far East Holdings, Ltd. | &nbsp;&nbsp;60000 | 18973 |
| Plover Bay Technologies, Ltd. | &nbsp;&nbsp;15000 | 11078 |
| Public Financial Holdings, Ltd. (A) | &nbsp;&nbsp;24000 | &nbsp;&nbsp;&nbsp;4044 |
| Regal Hotels International Holdings, Ltd. (A) | &nbsp;&nbsp;36000 | &nbsp;&nbsp;&nbsp;2844 |
| Regina Miracle International Holdings, Ltd. (D) | &nbsp;&nbsp;17000 | &nbsp;&nbsp;&nbsp;4593 |
| Shangri-La Asia, Ltd. | &nbsp;&nbsp;46000 | 25022 |
| Shun Tak Holdings, Ltd. (A) | &nbsp;&nbsp;80250 | &nbsp;&nbsp;&nbsp;6353 |
| Singamas Container Holdings, Ltd. | 114000 | &nbsp;&nbsp;&nbsp;9730 |
| SJM Holdings, Ltd. (A)(C) | 118750 | 38337 |
| SmarTone Telecommunications Holdings, Ltd. | &nbsp;&nbsp;31500 | 17697 |
| Solomon Systech International, Ltd. (A) | &nbsp;&nbsp;72000 | &nbsp;&nbsp;&nbsp;4233 |
| South China Holdings Company, Ltd. (A) | 640000 | &nbsp;&nbsp;&nbsp;2540 |
| Stella International Holdings, Ltd. | &nbsp;&nbsp;20000 | 36946 |
| Sun Hung Kai & Company, Ltd. | &nbsp;&nbsp;45000 | 19499 |
| SUNeVision Holdings, Ltd. | &nbsp;&nbsp;31000 | 29919 |
| Tao Heung Holdings, Ltd. (A) | &nbsp;&nbsp;14000 | &nbsp;&nbsp;&nbsp;&nbsp;535 |
| Television Broadcasts, Ltd. (A) | &nbsp;&nbsp;19100 | &nbsp;&nbsp;&nbsp;8460 |
| Texhong International Group, Ltd. | &nbsp;&nbsp;11000 | &nbsp;&nbsp;&nbsp;5436 |
| Texwinca Holdings, Ltd. | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;5973 |
| The Bank of East Asia, Ltd. | &nbsp;&nbsp;35959 | 55458 |
| The Hongkong & Shanghai Hotels, Ltd. (A) | &nbsp;&nbsp;31903 | 22381 |
| Theme International Holdings, Ltd. (A) | 130000 | 11287 |
| Town Health International Medical Group, Ltd. | 261361 | &nbsp;&nbsp;&nbsp;7923 |
| Tradelink Electronic Commerce, Ltd. | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;5990 |
| Transport International Holdings, Ltd. | &nbsp;&nbsp;13024 | 14658 |
| United Laboratories International Holdings, Ltd. | &nbsp;&nbsp;34000 | 65185 |
| Upbest Group, Ltd. | 164000 | 14420 |
| Value Partners Group, Ltd. | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;9970 |
| Vitasoy International Holdings, Ltd. | &nbsp;&nbsp;34000 | 39801 |
| Vobile Group, Ltd. (A) | &nbsp;&nbsp;73000 | 30029 |
| VSTECS Holdings, Ltd. | &nbsp;&nbsp;17200 | 17101 |
| VTech Holdings, Ltd. | &nbsp;&nbsp;&nbsp;6900 | 50121 |
| Wealthink AI-Innovation Capital, Ltd. (A) | &nbsp;&nbsp;32000 | &nbsp;&nbsp;&nbsp;&nbsp;370 |
| Wing On Company International, Ltd. | &nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;6285 |
| Wing Tai Properties, Ltd. | &nbsp;&nbsp;70000 | 13576 |
| Xinyi Glass Holdings, Ltd. (C) | &nbsp;&nbsp;47101 | 45380 |
| Yue Yuen Industrial Holdings, Ltd. | &nbsp;&nbsp;30000 | 46023 |
| Yunfeng Financial Group, Ltd. (A) | &nbsp;&nbsp;26000 | &nbsp;&nbsp;&nbsp;7599 |
| Zensun Enterprises, Ltd. (A) | &nbsp;&nbsp;21000 | &nbsp;&nbsp;&nbsp;&nbsp;203 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 55 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### International Small Company Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Hong Kong (continued)** |  |  |
| Zhaobangji Lifestyle Holdings, Ltd. (A) | 88000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1516 |
|  |  | 1929986 |
| **Ireland - 0.7%** |  |  |
| C&C Group PLC | 17690 | &nbsp;&nbsp;&nbsp;&nbsp;39568 |
| Cairn Homes PLC | 30473 | &nbsp;&nbsp;&nbsp;&nbsp;77075 |
| COSMO Pharmaceuticals NV | &nbsp;&nbsp;&nbsp;&nbsp;420 | &nbsp;&nbsp;&nbsp;&nbsp;30160 |
| Dalata Hotel Group PLC | &nbsp;&nbsp;6155 | &nbsp;&nbsp;&nbsp;&nbsp;46793 |
| DCC PLC | &nbsp;&nbsp;2009 | &nbsp;&nbsp;&nbsp;&nbsp;130385 |
| FBD Holdings PLC | &nbsp;&nbsp;1936 | &nbsp;&nbsp;&nbsp;&nbsp;31736 |
| Glanbia PLC | &nbsp;&nbsp;6256 | &nbsp;&nbsp;&nbsp;&nbsp;92240 |
| Glenveagh Properties PLC (A)(D) | 24326 | &nbsp;&nbsp;&nbsp;&nbsp;49273 |
| Grafton Group PLC, CHESS Depositary Interest | &nbsp;&nbsp;7751 | &nbsp;&nbsp;&nbsp;&nbsp;108682 |
| Greencore Group PLC | 23988 | &nbsp;&nbsp;&nbsp;&nbsp;76884 |
| Irish Continental Group PLC | &nbsp;&nbsp;5309 | &nbsp;&nbsp;&nbsp;&nbsp;34414 |
| Permanent TSB Group Holdings PLC (A) | &nbsp;&nbsp;5786 | &nbsp;&nbsp;&nbsp;&nbsp;13899 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;731109 |
| **Isle of Man - 0.1%** |  |  |
| Playtech PLC | 11001 | &nbsp;&nbsp;&nbsp;&nbsp;56809 |
| Strix Group PLC (A) | &nbsp;&nbsp;6042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3529 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;60338 |
| **Israel - 1.2%** |  |  |
| Adgar Investment and Development, Ltd. (A) | &nbsp;&nbsp;4535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7324 |
| AFI Properties, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;603 | &nbsp;&nbsp;&nbsp;&nbsp;34573 |
| Africa Israel Residences, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;355 | &nbsp;&nbsp;&nbsp;&nbsp;31748 |
| Airport City, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11 |
| Allot, Ltd. (A) | &nbsp;&nbsp;2103 | &nbsp;&nbsp;&nbsp;&nbsp;17812 |
| Alrov Properties and Lodgings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;399 | &nbsp;&nbsp;&nbsp;&nbsp;26522 |
| Arad, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;787 | &nbsp;&nbsp;&nbsp;&nbsp;12433 |
| Ashdod Refinery, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6612 |
| AudioCodes, Ltd. | &nbsp;&nbsp;1269 | &nbsp;&nbsp;&nbsp;&nbsp;12462 |
| Automatic Bank Services, Ltd. | &nbsp;&nbsp;1109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7124 |
| Azorim-Investment Development & Construction Company, Ltd. | &nbsp;&nbsp;3848 | &nbsp;&nbsp;&nbsp;&nbsp;27050 |
| Bet Shemesh Engines Holdings 1997, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;358 | &nbsp;&nbsp;&nbsp;&nbsp;59622 |
| Blue Square Real Estate, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;215 | &nbsp;&nbsp;&nbsp;&nbsp;24795 |
| Carasso Motors, Ltd. | &nbsp;&nbsp;2020 | &nbsp;&nbsp;&nbsp;&nbsp;19886 |
| Cellcom Israel, Ltd. (A) | &nbsp;&nbsp;4807 | &nbsp;&nbsp;&nbsp;&nbsp;39099 |
| Danel Adir Yeoshua, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;253 | &nbsp;&nbsp;&nbsp;&nbsp;36177 |
| Delek Automotive Systems, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;633 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5333 |
| Delta Galil, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;495 | &nbsp;&nbsp;&nbsp;&nbsp;26277 |
| Dor Alon Energy in Israel 1988, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;420 | &nbsp;&nbsp;&nbsp;&nbsp;16833 |
| Doral Group Renewable Energy Resources, Ltd. (A) | &nbsp;&nbsp;3049 | &nbsp;&nbsp;&nbsp;&nbsp;13880 |
| Duniec Brothers, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;217 | &nbsp;&nbsp;&nbsp;&nbsp;15280 |
| Electra Consumer Products 1970, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;445 | &nbsp;&nbsp;&nbsp;&nbsp;17344 |
| Equital, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29 |
| Fox Wizel, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;228 | &nbsp;&nbsp;&nbsp;&nbsp;22839 |
| Gilat Satellite Networks, Ltd. (A) | &nbsp;&nbsp;1452 | &nbsp;&nbsp;&nbsp;&nbsp;10609 |
| Hamat Group, Ltd. | &nbsp;&nbsp;1230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6818 |
| IDI Insurance Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;440 | &nbsp;&nbsp;&nbsp;&nbsp;28750 |
| IES Holdings, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8884 |
| Ilex Medical, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4039 |
| Inrom Construction Industries, Ltd. | &nbsp;&nbsp;4264 | &nbsp;&nbsp;&nbsp;&nbsp;26622 |
| Isracard, Ltd. | &nbsp;&nbsp;6691 | &nbsp;&nbsp;&nbsp;&nbsp;34484 |
| Israel Discount Bank, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 |
| Isras Investment Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;21354 |
| Issta, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7117 |
| Kamada, Ltd. | &nbsp;&nbsp;1616 | &nbsp;&nbsp;&nbsp;&nbsp;12566 |
| Kerur Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;418 | &nbsp;&nbsp;&nbsp;&nbsp;10172 |
| Kvutzat Acro, Ltd. | &nbsp;&nbsp;1118 | &nbsp;&nbsp;&nbsp;&nbsp;18239 |
| Land Development Nimrodi Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;789 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8502 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Israel (continued)** |  |  |
| Lapidoth Capital, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;571 | $&nbsp;&nbsp;&nbsp;&nbsp;13732 |
| M Yochananof & Sons, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp;&nbsp;14198 |
| Magic Software Enterprises, Ltd. | &nbsp;&nbsp;1349 | &nbsp;&nbsp;&nbsp;&nbsp;25835 |
| Malam - Team, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;476 | &nbsp;&nbsp;&nbsp;&nbsp;14085 |
| Maytronics, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1410 |
| Mediterranean Towers, Ltd. | &nbsp;&nbsp;4044 | &nbsp;&nbsp;&nbsp;&nbsp;15011 |
| Meshulam Levinstein Contracting & Engineering, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;56 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7134 |
| Mivtach Shamir Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;243 | &nbsp;&nbsp;&nbsp;&nbsp;20458 |
| Nawi Group, Ltd. | &nbsp;&nbsp;1396 | &nbsp;&nbsp;&nbsp;&nbsp;25045 |
| Neto Malinda Trading, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;451 | &nbsp;&nbsp;&nbsp;&nbsp;18547 |
| Nexxen International, Ltd. (A)(C) | &nbsp;&nbsp;1412 | &nbsp;&nbsp;&nbsp;&nbsp;14699 |
| Novolog, Ltd. | 20186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8453 |
| Oil Refineries, Ltd. | 28946 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7813 |
| OPC Energy, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12 |
| OY Nofar Energy, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;443 | &nbsp;&nbsp;&nbsp;&nbsp;12288 |
| Palram Industries 1990, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;14953 |
| Perion Network, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;689 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7036 |
| Plasson Industries, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;241 | &nbsp;&nbsp;&nbsp;&nbsp;17072 |
| Plus500, Ltd. | &nbsp;&nbsp;3252 | &nbsp;&nbsp;&nbsp;&nbsp;151749 |
| Prashkovsky Investments and Construction, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;318 | &nbsp;&nbsp;&nbsp;&nbsp;11161 |
| Priortech, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;217 | &nbsp;&nbsp;&nbsp;&nbsp;12787 |
| Rami Levy Chain Stores Hashikma Marketing 2006, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;323 | &nbsp;&nbsp;&nbsp;&nbsp;31179 |
| Retailors, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;748 | &nbsp;&nbsp;&nbsp;&nbsp;14461 |
| Sano-Brunos Enterprises, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp;&nbsp;15975 |
| Scope Metals Group, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;377 | &nbsp;&nbsp;&nbsp;&nbsp;17701 |
| Shikun & Binui, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 |
| Summit Real Estate Holdings, Ltd. | &nbsp;&nbsp;1022 | &nbsp;&nbsp;&nbsp;&nbsp;18590 |
| Tadiran Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;86 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4597 |
| Tamar Petroleum, Ltd. (D) | &nbsp;&nbsp;1923 | &nbsp;&nbsp;&nbsp;&nbsp;23652 |
| Telsys, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;84 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5629 |
| Tera Light, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 |
| Tiv Taam Holdings 1, Ltd. | &nbsp;&nbsp;3848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9247 |
|  |  | 1233833 |
| **Italy - 4.1%** |  |  |
| A2A SpA | 61455 | &nbsp;&nbsp;&nbsp;&nbsp;165531 |
| ACEA SpA | &nbsp;&nbsp;1344 | &nbsp;&nbsp;&nbsp;&nbsp;32492 |
| Amplifon SpA | &nbsp;&nbsp;3025 | &nbsp;&nbsp;&nbsp;&nbsp;71045 |
| Aquafil SpA (A) | &nbsp;&nbsp;&nbsp;&nbsp;969 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1511 |
| Arnoldo Mondadori Editore SpA | &nbsp;&nbsp;7965 | &nbsp;&nbsp;&nbsp;&nbsp;20185 |
| Ascopiave SpA | &nbsp;&nbsp;4243 | &nbsp;&nbsp;&nbsp;&nbsp;15241 |
| Avio SpA | &nbsp;&nbsp;&nbsp;&nbsp;877 | &nbsp;&nbsp;&nbsp;&nbsp;24468 |
| Azimut Holding SpA | &nbsp;&nbsp;4425 | &nbsp;&nbsp;&nbsp;&nbsp;141961 |
| Banca Generali SpA | &nbsp;&nbsp;2463 | &nbsp;&nbsp;&nbsp;&nbsp;136846 |
| Banca IFIS SpA | &nbsp;&nbsp;&nbsp;&nbsp;633 | &nbsp;&nbsp;&nbsp;&nbsp;16948 |
| Banca Monte dei Paschi di Siena SpA (C) | 24967 | &nbsp;&nbsp;&nbsp;&nbsp;211760 |
| Banca Popolare di Sondrio SpA | 16703 | &nbsp;&nbsp;&nbsp;&nbsp;231956 |
| Banca Profilo SpA | 24032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4656 |
| Banco di Desio e della Brianza SpA | &nbsp;&nbsp;2610 | &nbsp;&nbsp;&nbsp;&nbsp;21831 |
| BasicNet SpA | &nbsp;&nbsp;1571 | &nbsp;&nbsp;&nbsp;&nbsp;14679 |
| BFF Bank SpA (A)(D) | &nbsp;&nbsp;6472 | &nbsp;&nbsp;&nbsp;&nbsp;71055 |
| BPER Banca SpA | 14274 | &nbsp;&nbsp;&nbsp;&nbsp;129555 |
| Brembo NV | &nbsp;&nbsp;5497 | &nbsp;&nbsp;&nbsp;&nbsp;52597 |
| Brunello Cucinelli SpA | &nbsp;&nbsp;1495 | &nbsp;&nbsp;&nbsp;&nbsp;181498 |
| Buzzi SpA | &nbsp;&nbsp;2278 | &nbsp;&nbsp;&nbsp;&nbsp;126338 |
| Cairo Communication SpA (A) | &nbsp;&nbsp;4712 | &nbsp;&nbsp;&nbsp;&nbsp;16128 |
| Carel Industries SpA (D) | &nbsp;&nbsp;&nbsp;&nbsp;660 | &nbsp;&nbsp;&nbsp;&nbsp;17593 |
| Cembre SpA | &nbsp;&nbsp;&nbsp;&nbsp;370 | &nbsp;&nbsp;&nbsp;&nbsp;24671 |
| Cementir Holding NV | &nbsp;&nbsp;2219 | &nbsp;&nbsp;&nbsp;&nbsp;38779 |
| CIR SpA-Compagnie Industriali (A) | 42681 | &nbsp;&nbsp;&nbsp;&nbsp;29431 |
| Credito Emiliano SpA | &nbsp;&nbsp;3091 | &nbsp;&nbsp;&nbsp;&nbsp;45614 |
| Danieli & C Officine Meccaniche SpA | &nbsp;&nbsp;&nbsp;&nbsp;197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7743 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 56 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### International Small Company Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Italy (continued)** |  |  |
| Danieli & C Officine Meccaniche SpA, Savings Shares | &nbsp;&nbsp;&nbsp;2118 | $&nbsp;&nbsp;&nbsp;&nbsp;63922 |
| De'Longhi SpA | &nbsp;&nbsp;&nbsp;1031 | &nbsp;&nbsp;&nbsp;&nbsp;34613 |
| Enav SpA (D) | &nbsp;&nbsp;10341 | &nbsp;&nbsp;&nbsp;&nbsp;47821 |
| ERG SpA | &nbsp;&nbsp;&nbsp;&nbsp;344 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7522 |
| Esprinet SpA | &nbsp;&nbsp;&nbsp;2412 | &nbsp;&nbsp;&nbsp;&nbsp;11379 |
| Fila SpA | &nbsp;&nbsp;&nbsp;2245 | &nbsp;&nbsp;&nbsp;&nbsp;25582 |
| Fincantieri SpA (A) | &nbsp;&nbsp;&nbsp;3166 | &nbsp;&nbsp;&nbsp;&nbsp;60956 |
| Garofalo Health Care SpA | &nbsp;&nbsp;&nbsp;1776 | &nbsp;&nbsp;&nbsp;&nbsp;10331 |
| Geox SpA (A) | &nbsp;&nbsp;11885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4579 |
| Hera SpA | &nbsp;&nbsp;33574 | &nbsp;&nbsp;&nbsp;&nbsp;162176 |
| IMMSI SpA | &nbsp;&nbsp;&nbsp;6756 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3978 |
| Intercos SpA | &nbsp;&nbsp;&nbsp;1065 | &nbsp;&nbsp;&nbsp;&nbsp;16187 |
| Interpump Group SpA | &nbsp;&nbsp;&nbsp;&nbsp;506 | &nbsp;&nbsp;&nbsp;&nbsp;21056 |
| Iren SpA | &nbsp;&nbsp;30720 | &nbsp;&nbsp;&nbsp;&nbsp;94905 |
| Italgas SpA | &nbsp;&nbsp;23782 | &nbsp;&nbsp;&nbsp;&nbsp;201737 |
| Italmobiliare SpA | &nbsp;&nbsp;&nbsp;&nbsp;405 | &nbsp;&nbsp;&nbsp;&nbsp;12412 |
| Iveco Group NV | &nbsp;&nbsp;&nbsp;7049 | &nbsp;&nbsp;&nbsp;&nbsp;138818 |
| Lottomatica Group SpA | &nbsp;&nbsp;&nbsp;1988 | &nbsp;&nbsp;&nbsp;&nbsp;55185 |
| Maire SpA | &nbsp;&nbsp;&nbsp;7306 | &nbsp;&nbsp;&nbsp;&nbsp;96273 |
| MARR SpA | &nbsp;&nbsp;&nbsp;&nbsp;998 | &nbsp;&nbsp;&nbsp;&nbsp;11412 |
| MFE-MediaForEurope NV, Class A | &nbsp;&nbsp;&nbsp;6924 | &nbsp;&nbsp;&nbsp;&nbsp;23754 |
| MFE-MediaForEurope NV, Class B | &nbsp;&nbsp;&nbsp;3783 | &nbsp;&nbsp;&nbsp;&nbsp;17635 |
| Moltiply Group SpA | &nbsp;&nbsp;&nbsp;&nbsp;424 | &nbsp;&nbsp;&nbsp;&nbsp;22746 |
| Nexi SpA (D) | &nbsp;&nbsp;13328 | &nbsp;&nbsp;&nbsp;&nbsp;79599 |
| OVS SpA (D) | &nbsp;&nbsp;&nbsp;5774 | &nbsp;&nbsp;&nbsp;&nbsp;25166 |
| Pharmanutra SpA | &nbsp;&nbsp;&nbsp;&nbsp;268 | &nbsp;&nbsp;&nbsp;&nbsp;14902 |
| Piaggio & C SpA (C) | &nbsp;&nbsp;&nbsp;4580 | &nbsp;&nbsp;&nbsp;&nbsp;10146 |
| Pirelli & C. SpA (D) | &nbsp;&nbsp;12309 | &nbsp;&nbsp;&nbsp;&nbsp;84847 |
| RAI Way SpA (D) | &nbsp;&nbsp;&nbsp;5678 | &nbsp;&nbsp;&nbsp;&nbsp;40675 |
| Reply SpA | &nbsp;&nbsp;&nbsp;1004 | &nbsp;&nbsp;&nbsp;&nbsp;173512 |
| Sabaf SpA | &nbsp;&nbsp;&nbsp;&nbsp;338 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5775 |
| Safilo Group SpA (A) | &nbsp;&nbsp;&nbsp;8728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9291 |
| Saipem SpA | &nbsp;&nbsp;62658 | &nbsp;&nbsp;&nbsp;&nbsp;171295 |
| Sanlorenzo SpA | &nbsp;&nbsp;&nbsp;&nbsp;556 | &nbsp;&nbsp;&nbsp;&nbsp;19584 |
| Sesa SpA | &nbsp;&nbsp;&nbsp;&nbsp;103 | &nbsp;&nbsp;&nbsp;&nbsp;10469 |
| Sogefi SpA | &nbsp;&nbsp;&nbsp;3551 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9366 |
| SOL SpA | &nbsp;&nbsp;&nbsp;1145 | &nbsp;&nbsp;&nbsp;&nbsp;64880 |
| Tamburi Investment Partners SpA | &nbsp;&nbsp;&nbsp;4666 | &nbsp;&nbsp;&nbsp;&nbsp;43130 |
| Technogym SpA (D) | &nbsp;&nbsp;&nbsp;5726 | &nbsp;&nbsp;&nbsp;&nbsp;82042 |
| Telecom Italia SpA (A) | 305003 | &nbsp;&nbsp;&nbsp;&nbsp;150707 |
| Telecom Italia SpA, Savings Shares (A) | &nbsp;&nbsp;67931 | &nbsp;&nbsp;&nbsp;&nbsp;37096 |
| Unipol Assicurazioni SpA | &nbsp;&nbsp;10522 | &nbsp;&nbsp;&nbsp;&nbsp;208386 |
| Webuild SpA | &nbsp;&nbsp;14544 | &nbsp;&nbsp;&nbsp;&nbsp;61662 |
| Wiit SpA | &nbsp;&nbsp;&nbsp;&nbsp;839 | &nbsp;&nbsp;&nbsp;&nbsp;15274 |
|  |  | 4314895 |
| **Japan - 21.9%** |  |  |
| A&D HOLON Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp;13117 |
| Achilles Corp. | &nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7677 |
| Adastria Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;620 | &nbsp;&nbsp;&nbsp;&nbsp;12820 |
| ADEKA Corp. | &nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;68834 |
| Ad-sol Nissin Corp. | &nbsp;&nbsp;&nbsp;1600 | &nbsp;&nbsp;&nbsp;&nbsp;13017 |
| Advan Group Company, Ltd. | &nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5699 |
| Aeon Fantasy Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7555 |
| AEON Financial Service Company, Ltd. | &nbsp;&nbsp;&nbsp;4300 | &nbsp;&nbsp;&nbsp;&nbsp;38321 |
| Aeon Hokkaido Corp. | &nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;11104 |
| Ai Holdings Corp. | &nbsp;&nbsp;&nbsp;1900 | &nbsp;&nbsp;&nbsp;&nbsp;30915 |
| Aica Kogyo Company, Ltd. | &nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;44917 |
| Aichi Corp. | &nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;16880 |
| Aichi Steel Corp. | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;11853 |
| Aichi Tokei Denki Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp;14187 |
| Aida Engineering, Ltd. | &nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;17021 |
| Aiful Corp. | &nbsp;&nbsp;&nbsp;8600 | &nbsp;&nbsp;&nbsp;&nbsp;25148 |
| Ain Holdings, Inc. | &nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp;41501 |
| Aiphone Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;11479 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Japan (continued)** |  |  |
| Airman Corp. | 1200 | $16342 |
| Airport Facilities Company, Ltd. | 1200 | &nbsp;&nbsp;&nbsp;6661 |
| Airtrip Corp. | &nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;5419 |
| Aisan Industry Company, Ltd. | &nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;9321 |
| Akatsuki, Inc. | &nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;8386 |
| Akebono Brake Industry Company, Ltd. (A) | 9400 | &nbsp;&nbsp;&nbsp;6773 |
| Albis Company, Ltd. | &nbsp;&nbsp;500 | 10336 |
| Alconix Corp. | 1600 | 20595 |
| Alfresa Holdings Corp. | &nbsp;&nbsp;800 | 10943 |
| Alpen Company, Ltd. | 1100 | 18110 |
| Alps Alpine Company, Ltd. | 7000 | 75303 |
| Altech Corp. | 1100 | 21069 |
| Amano Corp. | 2200 | 68361 |
| Amuse, Inc. | &nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;4492 |
| Amvis Holdings, Inc. | &nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;1008 |
| Anest Iwata Corp. | 1800 | 17227 |
| Anicom Holdings, Inc. | 3700 | 17658 |
| Anycolor, Inc. | 1400 | 50567 |
| AOKI Holdings, Inc. | 1700 | 19689 |
| Aoyama Trading Company, Ltd. | 2500 | 37987 |
| Aoyama Zaisan Networks Company, Ltd. | 1100 | 13816 |
| Arakawa Chemical Industries, Ltd. | 1400 | &nbsp;&nbsp;&nbsp;9955 |
| Arata Corp. | 1400 | 29455 |
| ARCLANDS Corp. | 1770 | 21709 |
| Arcs Company, Ltd. | 2125 | 44026 |
| ARE Holdings, Inc. | 3600 | 45006 |
| Arealink Company, Ltd. (C) | 1000 | 16822 |
| Argo Graphics, Inc. | 1000 | 36418 |
| Arisawa Manufacturing Company, Ltd. | &nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;6122 |
| Artience Company, Ltd. | 1100 | 22979 |
| As One Corp. | 2000 | 34513 |
| Asahi Company, Ltd. | &nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;7381 |
| Asahi Diamond Industrial Company, Ltd. | 3900 | 19355 |
| Asahi Yukizai Corp. | &nbsp;&nbsp;400 | 11196 |
| ASKA Pharmaceutical Holdings Company, Ltd. | &nbsp;&nbsp;800 | 13583 |
| ASKUL Corp. | 2000 | 21336 |
| Atsugi Company, Ltd. (A) | 1200 | 10442 |
| Aucnet, Inc. | 2200 | 24614 |
| Autobacs Seven Company, Ltd. | 3400 | 33858 |
| Avant Group Corp. | &nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;9609 |
| Avex, Inc. | 2800 | 24717 |
| Axial Retailing, Inc. | 3200 | 24983 |
| AZ-COM MARUWA Holdings, Inc. | 3100 | 21948 |
| Bando Chemical Industries, Ltd. | 2500 | 29428 |
| Bank of the Ryukyus, Ltd. | &nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;6335 |
| Belc Company, Ltd. | &nbsp;&nbsp;500 | 25749 |
| Bell System24 Holdings, Inc. | 1300 | 11589 |
| Belluna Company, Ltd. | 3300 | 20339 |
| Bic Camera, Inc. | 3800 | 43561 |
| BML, Inc. | 1000 | 22957 |
| Bourbon Corp. | &nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;9012 |
| Br. Holdings Corp. | 2300 | &nbsp;&nbsp;&nbsp;5173 |
| BrainPad, Inc. | &nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;8425 |
| Buffalo, Inc. | &nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;7949 |
| Bunka Shutter Company, Ltd. | 2900 | 47471 |
| Business Brain Showa-Ota, Inc. | &nbsp;&nbsp;700 | 12460 |
| C Uyemura & Company, Ltd. | &nbsp;&nbsp;500 | 32075 |
| CAC Holdings Corp. | &nbsp;&nbsp;900 | 12400 |
| Canon Electronics, Inc. | &nbsp;&nbsp;900 | 15914 |
| Carenet, Inc. | 1200 | &nbsp;&nbsp;&nbsp;5785 |
| Carlit Company, Ltd. | 2100 | 17830 |
| Cawachi, Ltd. | &nbsp;&nbsp;900 | 17235 |
| Celsys, Inc. | 1100 | 11501 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 57 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### International Small Company Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Japan (continued)** |  |  |
| Central Automotive Products, Ltd. | 1500 | $18852 |
| Central Glass Company, Ltd. | &nbsp;&nbsp;800 | 16485 |
| Central Security Patrols Company, Ltd. | &nbsp;&nbsp;700 | 10812 |
| Central Sports Company, Ltd. | &nbsp;&nbsp;600 | 10020 |
| Ceres, Inc. | &nbsp;&nbsp;600 | 10403 |
| Change Holdings, Inc. | 1700 | 13579 |
| Charm Care Corp. KK | 1000 | &nbsp;&nbsp;&nbsp;8983 |
| Chino Corp. | &nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;6756 |
| Chiyoda Company, Ltd. | &nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;6618 |
| Chiyoda Integre Company, Ltd. | &nbsp;&nbsp;800 | 15186 |
| Chori Company, Ltd. | &nbsp;&nbsp;800 | 22412 |
| Chubu Shiryo Company, Ltd. | 2000 | 21704 |
| Chudenko Corp. | 1300 | 29967 |
| Chuetsu Pulp & Paper Company, Ltd. | &nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;5564 |
| Chugai Ro Company, Ltd. | &nbsp;&nbsp;500 | 11986 |
| Chugin Financial Group, Inc. | 6700 | 81026 |
| Chugoku Marine Paints, Ltd. | 1400 | 26274 |
| Citizen Watch Company, Ltd. | 8700 | 51564 |
| CKD Corp. | 2400 | 43636 |
| Cleanup Corp. | 2100 | &nbsp;&nbsp;&nbsp;9892 |
| CMK Corp. | 3700 | &nbsp;&nbsp;&nbsp;8528 |
| COLOPL, Inc. | 3200 | 11922 |
| Colowide Company, Ltd. | 3200 | 42071 |
| Comture Corp. | 1000 | 11781 |
| Corona Corp. | &nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;1879 |
| Cosel Company, Ltd. | 1200 | &nbsp;&nbsp;&nbsp;9316 |
| Cota Company, Ltd. | &nbsp;&nbsp;643 | &nbsp;&nbsp;&nbsp;6458 |
| Create Restaurants Holdings, Inc. | 5800 | 57294 |
| Create SD Holdings Company, Ltd. | 1100 | 24464 |
| Creek & River Company, Ltd. | &nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;8344 |
| Cresco, Ltd. | 1600 | 19255 |
| CTS Company, Ltd. | 1900 | 10622 |
| Curves Holdings Company, Ltd. | 2000 | &nbsp;&nbsp;&nbsp;9605 |
| Cybozu, Inc. | &nbsp;&nbsp;900 | 23289 |
| Dai Nippon Toryo Company, Ltd. | 1200 | &nbsp;&nbsp;&nbsp;9898 |
| Daicel Corp. | 2100 | 17605 |
| Dai-Dan Company, Ltd. | 1200 | 36891 |
| Daido Metal Company, Ltd. | 1900 | &nbsp;&nbsp;&nbsp;8746 |
| Daido Steel Company, Ltd. | 4600 | 31764 |
| Daiei Kankyo Company, Ltd. | &nbsp;&nbsp;700 | 15350 |
| Daiichi Jitsugyo Company, Ltd. | 1200 | 20384 |
| Daiichi Kensetsu Corp. | 1300 | 27827 |
| Daiichi Kigenso Kagaku-Kogyo Company, Ltd. | 1800 | &nbsp;&nbsp;&nbsp;8174 |
| Daiichikosho Company, Ltd. | 2800 | 31519 |
| Daiken Medical Company, Ltd. | &nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;1225 |
| Daiki Aluminium Industry Company, Ltd. | 1500 | 10086 |
| Daikoku Denki Company, Ltd. | &nbsp;&nbsp;800 | 12146 |
| Daikokutenbussan Company, Ltd. | &nbsp;&nbsp;300 | 14603 |
| Daikyonishikawa Corp. | 1900 | &nbsp;&nbsp;&nbsp;8527 |
| Dainichiseika Color & Chemicals Manufacturing Company, Ltd. | &nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;6549 |
| Daio Paper Corp. | 4200 | 23274 |
| Daiseki Company, Ltd. | 1360 | 32812 |
| Daishi Hokuetsu Financial Group, Inc. | 2200 | 50801 |
| Daishinku Corp. | 1600 | &nbsp;&nbsp;&nbsp;6218 |
| Daito Pharmaceutical Company, Ltd. | 1540 | 10652 |
| Daitron Company, Ltd. | &nbsp;&nbsp;600 | 15642 |
| Daiwa Industries, Ltd. | 2000 | 23024 |
| Daiwabo Holdings Company, Ltd. | 2900 | 52127 |
| DCM Holdings Company, Ltd. | 5100 | 47171 |
| Denka Company, Ltd. | 3400 | 46690 |
| Densan System Holdings Company, Ltd. | &nbsp;&nbsp;700 | 12805 |
| Denyo Company, Ltd. | &nbsp;&nbsp;900 | 17652 |
| Dexerials Corp. | 2700 | 41728 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Japan (continued)** |  |  |
| DIC Corp. | 2700 | $54309 |
| Digital Hearts Holdings Company, Ltd. | &nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;6240 |
| Digital Holdings, Inc. | &nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;5047 |
| Dip Corp. | 1400 | 22147 |
| DKK Company, Ltd. | 1000 | 14703 |
| DKS Company, Ltd. | &nbsp;&nbsp;400 | 10963 |
| Doshisha Company, Ltd. | 1000 | 17194 |
| Doutor Nichires Holdings Company, Ltd. | 1000 | 18211 |
| Dowa Holdings Company, Ltd. | 2100 | 67921 |
| DTS Corp. | 1300 | 46601 |
| Duskin Company, Ltd. | 1600 | 44015 |
| DyDo Group Holdings, Inc. | &nbsp;&nbsp;600 | 11081 |
| Eagle Industry Company, Ltd. | 1300 | 17309 |
| Ebara Jitsugyo Company, Ltd. | &nbsp;&nbsp;800 | 20320 |
| Ebase Company, Ltd. | 1200 | &nbsp;&nbsp;&nbsp;4309 |
| EDION Corp. | 2700 | 39523 |
| EF-ON, Inc. | 1500 | &nbsp;&nbsp;&nbsp;3402 |
| eGuarantee, Inc. | 2000 | 20466 |
| E-Guardian, Inc. | &nbsp;&nbsp;284 | &nbsp;&nbsp;&nbsp;4163 |
| Eizo Corp. | 1600 | 23951 |
| Elan Corp. | &nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;3775 |
| Elecom Company, Ltd. | 1600 | 20052 |
| EM Systems Company, Ltd. | 1400 | &nbsp;&nbsp;&nbsp;7020 |
| en-japan, Inc. | &nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;9223 |
| Enplas Corp. | &nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;9128 |
| eRex Company, Ltd. | 1900 | &nbsp;&nbsp;&nbsp;9866 |
| ES-Con Japan, Ltd. | 1500 | 10324 |
| ESPEC Corp. | &nbsp;&nbsp;800 | 17153 |
| Exedy Corp. | &nbsp;&nbsp;700 | 20024 |
| EXEO Group, Inc. | 6400 | 81474 |
| Ezaki Glico Company, Ltd. | 2000 | 63979 |
| FCC Company, Ltd. | 1100 | 21300 |
| FDK Corp. (A) | &nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;744 |
| Feed One Company, Ltd. | 1600 | 10898 |
| Ferrotec Holdings Corp. | 2000 | 42193 |
| Financial Partners Group Company, Ltd. | 1100 | 18232 |
| FP Corp. | 1100 | 20234 |
| France Bed Holdings Company, Ltd. | 2200 | 19475 |
| Fudo Tetra Corp. | 1080 | 16920 |
| Fuji Company, Ltd. | &nbsp;&nbsp;800 | 11040 |
| Fuji Corp. (Aichi) | 2600 | 48396 |
| Fuji Corp., Ltd. | 1300 | &nbsp;&nbsp;&nbsp;6163 |
| Fuji Kyuko Company, Ltd. | &nbsp;&nbsp;800 | 11548 |
| Fuji Oil Company, Ltd. | 4400 | &nbsp;&nbsp;&nbsp;8934 |
| Fuji Oil Company, Ltd. (Osaka) | 1400 | 27407 |
| Fuji Pharma Company, Ltd. | 1400 | 13449 |
| Fuji Seal International, Inc. | 2100 | 40578 |
| Fujibo Holdings, Inc. | &nbsp;&nbsp;700 | 28762 |
| Fujicco Company, Ltd. | 1500 | 16606 |
| Fujikura Kasei Company, Ltd. | 2000 | &nbsp;&nbsp;&nbsp;7171 |
| Fujimi, Inc. | 2400 | 33966 |
| Fujisash Company, Ltd. | &nbsp;&nbsp;490 | &nbsp;&nbsp;&nbsp;2357 |
| Fujita Kanko, Inc. (A) | &nbsp;&nbsp;200 | 15451 |
| Fujiya Company, Ltd. | &nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;8323 |
| Fukuda Corp. | &nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;6925 |
| Fukuda Denshi Company, Ltd. | &nbsp;&nbsp;700 | 33990 |
| Fukui Computer Holdings, Inc. | &nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;6207 |
| Fukuyama Transporting Company, Ltd. | 1000 | 23361 |
| FULLCAST Holdings Company, Ltd. | 1000 | 11803 |
| Funai Soken Holdings, Inc. | 1800 | 30283 |
| Furuno Electric Company, Ltd. | &nbsp;&nbsp;800 | 20812 |
| Furuya Metal Company, Ltd. | &nbsp;&nbsp;900 | 15748 |
| Furyu Corp. | 1300 | &nbsp;&nbsp;&nbsp;9122 |
| Fuso Chemical Company, Ltd. | 1000 | 26802 |
| Fuso Pharmaceutical Industries, Ltd. | &nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;7360 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 58 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### International Small Company Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Japan (continued)** |  |  |
| Futaba Corp. | &nbsp;&nbsp;1600 | $&nbsp;&nbsp;&nbsp;6816 |
| Futaba Industrial Company, Ltd. | &nbsp;&nbsp;3400 | 18871 |
| Future Corp. | &nbsp;&nbsp;2400 | 35692 |
| Fuyo General Lease Company, Ltd. | &nbsp;&nbsp;1200 | 32452 |
| G-7 Holdings, Inc. | &nbsp;&nbsp;2000 | 18372 |
| Gakken Holdings Company, Ltd. | &nbsp;&nbsp;1600 | 10502 |
| Galilei Company, Ltd. | &nbsp;&nbsp;1000 | 21134 |
| Gecoss Corp. | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;3345 |
| Geo Holdings Corp. | &nbsp;&nbsp;1900 | 20297 |
| GLOBERIDE, Inc. | &nbsp;&nbsp;1200 | 17604 |
| Glory, Ltd. | &nbsp;&nbsp;2100 | 48956 |
| GMO Financial Gate, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;400 | 15017 |
| GMO Financial Holdings, Inc. | &nbsp;&nbsp;1600 | &nbsp;&nbsp;&nbsp;8730 |
| GMO GlobalSign Holdings KK | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;7175 |
| GMO internet group, Inc. | &nbsp;&nbsp;1900 | 47507 |
| Goldcrest Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;990 | 22693 |
| Goldwin, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;400 | 22494 |
| Grems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;800 | 13174 |
| GS Yuasa Corp. | &nbsp;&nbsp;3000 | 55979 |
| G-Tekt Corp. | &nbsp;&nbsp;1200 | 14726 |
| Gun-Ei Chemical Industry Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;7947 |
| Gunze, Ltd. | &nbsp;&nbsp;1600 | 39640 |
| H.U. Group Holdings, Inc. | &nbsp;&nbsp;1600 | 35366 |
| H2O Retailing Corp. | &nbsp;&nbsp;2600 | 34098 |
| Hagihara Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;8459 |
| Hagiwara Electric Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;500 | 11364 |
| Hakudo Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;9517 |
| Halows Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;600 | 20088 |
| Hamakyorex Company, Ltd. | &nbsp;&nbsp;2800 | 26330 |
| Hanwa Company, Ltd. | &nbsp;&nbsp;1500 | 56505 |
| Hazama Ando Corp. | &nbsp;&nbsp;5490 | 55272 |
| Heiwa Corp. | &nbsp;&nbsp;1500 | 21869 |
| Heiwado Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;9818 |
| Hennge KK (A) | &nbsp;&nbsp;1000 | 12547 |
| Hiday Hidaka Corp. | &nbsp;&nbsp;&nbsp;&nbsp;600 | 13763 |
| HI-LEX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;8501 |
| Hino Motors, Ltd. (A) | 10400 | 25854 |
| Hioki EE Corp. | &nbsp;&nbsp;&nbsp;&nbsp;500 | 19750 |
| Hirano Tecseed Company, Ltd. | &nbsp;&nbsp;1100 | 11284 |
| Hirogin Holdings, Inc. | 10600 | 88633 |
| Hiroshima Gas Company, Ltd. | &nbsp;&nbsp;4900 | 12185 |
| Hisaka Works, Ltd. | &nbsp;&nbsp;2000 | 18752 |
| Hochiki Corp. | &nbsp;&nbsp;&nbsp;&nbsp;600 | 12971 |
| Hokkaido Electric Power Company, Inc. | &nbsp;&nbsp;5900 | 30789 |
| Hokkaido Gas Company, Ltd. | &nbsp;&nbsp;3000 | 12360 |
| Hokkan Holdings, Ltd. | &nbsp;&nbsp;1000 | 12985 |
| Hokko Chemical Industry Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;6698 |
| Hokkoku Financial Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;900 | 30201 |
| Hokuetsu Corp. (C) | &nbsp;&nbsp;4900 | 35714 |
| Hokuhoku Financial Group, Inc. | &nbsp;&nbsp;4900 | 92840 |
| Hokuriku Electric Power Company | &nbsp;&nbsp;7400 | 36993 |
| Hokuto Corp. | &nbsp;&nbsp;1600 | 19970 |
| H-One Company, Ltd. | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;8909 |
| Honeys Holdings Company, Ltd. | &nbsp;&nbsp;1350 | 14735 |
| Hoosiers Holdings Company, Ltd. | &nbsp;&nbsp;2100 | 18161 |
| Hosiden Corp. | &nbsp;&nbsp;1700 | 26069 |
| Hosokawa Micron Corp. | &nbsp;&nbsp;&nbsp;&nbsp;600 | 20653 |
| HS Holdings Company, Ltd. | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;7664 |
| IBJ, Inc. | &nbsp;&nbsp;1800 | 10660 |
| Ichigo, Inc. | &nbsp;&nbsp;4500 | 12615 |
| Ichikoh Industries, Ltd. | &nbsp;&nbsp;2300 | &nbsp;&nbsp;&nbsp;5776 |
| Ichiyoshi Securities Company, Ltd. | &nbsp;&nbsp;2800 | 15793 |
| Icom, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;500 | 10255 |
| IDEC Corp. | &nbsp;&nbsp;1600 | 25235 |
| IDOM, Inc. | &nbsp;&nbsp;1300 | &nbsp;&nbsp;&nbsp;9547 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Japan (continued)** |  |  |
| Iino Kaiun Kaisha, Ltd. | &nbsp;&nbsp;2900 | $20336 |
| I'll, Inc. | &nbsp;&nbsp;1100 | 21113 |
| Imasen Electric Industrial | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;2426 |
| Imuraya Group Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;5152 |
| Inaba Denki Sangyo Company, Ltd. | &nbsp;&nbsp;2100 | 57629 |
| Inaba Seisakusho Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;2582 |
| Inabata & Company, Ltd. | &nbsp;&nbsp;2000 | 44583 |
| Ines Corp. | &nbsp;&nbsp;&nbsp;&nbsp;900 | 10382 |
| i-Net Corp. | &nbsp;&nbsp;&nbsp;&nbsp;900 | 11908 |
| INFRONEER Holdings, Inc. | &nbsp;&nbsp;4200 | 35238 |
| Insource Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;2064 |
| Intage Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;468 | &nbsp;&nbsp;&nbsp;5767 |
| Inui Global Logistics Company, Ltd. | &nbsp;&nbsp;1600 | 13347 |
| IR Japan Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;1736 |
| Iriso Electronics Company, Ltd. | &nbsp;&nbsp;1000 | 19801 |
| Iseki & Company, Ltd. | &nbsp;&nbsp;1200 | 10132 |
| Ishihara Sangyo Kaisha, Ltd. | &nbsp;&nbsp;2100 | 29548 |
| ITFOR, Inc. | &nbsp;&nbsp;1000 | 10399 |
| ITmedia, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;900 | 10253 |
| Ito En, Ltd. | &nbsp;&nbsp;1900 | 43065 |
| Itochu Enex Company, Ltd. | &nbsp;&nbsp;2700 | 32336 |
| Itochu-Shokuhin Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;300 | 20616 |
| Itoham Yonekyu Holdings, Inc. | &nbsp;&nbsp;1100 | 37408 |
| Itoki Corp. | &nbsp;&nbsp;2100 | 31836 |
| IwaiCosmo Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;900 | 14018 |
| Iwatani Corp. | &nbsp;&nbsp;3000 | 31875 |
| Izumi Company, Ltd. | &nbsp;&nbsp;1400 | 32319 |
| J Trust Company, Ltd. | &nbsp;&nbsp;6286 | 18462 |
| Jaccs Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;900 | 25022 |
| Jade Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;3860 |
| JAFCO Group Company, Ltd. | &nbsp;&nbsp;1200 | 20531 |
| JANOME Corp. | &nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;9315 |
| Japan Airport Terminal Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;400 | 12773 |
| Japan Aviation Electronics Industry, Ltd. | &nbsp;&nbsp;2300 | 40882 |
| Japan Cash Machine Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;4780 |
| Japan Communications, Inc. (A) | 15200 | 16885 |
| Japan Elevator Service Holdings Company, Ltd. | &nbsp;&nbsp;2000 | 57574 |
| Japan Investment Adviser Company, Ltd. | &nbsp;&nbsp;2000 | 23687 |
| Japan Lifeline Company, Ltd. | &nbsp;&nbsp;3000 | 31078 |
| Japan Material Company, Ltd. | &nbsp;&nbsp;2900 | 29634 |
| Japan Medical Dynamic Marketing, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;3553 |
| Japan Petroleum Exploration Company, Ltd. | &nbsp;&nbsp;6500 | 45732 |
| Japan Property Management Center Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;6501 |
| Japan Pulp & Paper Company, Ltd. | &nbsp;&nbsp;6000 | 25785 |
| Japan Securities Finance Company, Ltd. | &nbsp;&nbsp;3300 | 40133 |
| Japan Transcity Corp. | &nbsp;&nbsp;3100 | 23501 |
| Japan Wool Textile Company, Ltd. | &nbsp;&nbsp;1500 | 15139 |
| JBCC Holdings, Inc. | &nbsp;&nbsp;2400 | 22428 |
| JCU Corp. | &nbsp;&nbsp;&nbsp;&nbsp;800 | 18383 |
| Jeol, Ltd. | &nbsp;&nbsp;1500 | 45644 |
| JGC Holdings Corp. | &nbsp;&nbsp;5700 | 49321 |
| JINS Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;300 | 17756 |
| JINUSHI Company, Ltd. | &nbsp;&nbsp;1100 | 16643 |
| JM Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;600 | 10895 |
| JMS Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;1503 |
| J-Oil Mills, Inc. | &nbsp;&nbsp;1200 | 16328 |
| Joshin Denki Company, Ltd. | &nbsp;&nbsp;1100 | 18116 |
| Joyful Honda Company, Ltd. | &nbsp;&nbsp;1900 | 27514 |
| JSB Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;800 | 21157 |
| JSP Corp. | &nbsp;&nbsp;&nbsp;&nbsp;800 | 10459 |
| JTEKT Corp. | &nbsp;&nbsp;5200 | 42800 |
| Juki Corp. (A) | &nbsp;&nbsp;1400 | &nbsp;&nbsp;&nbsp;3838 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 59 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### International Small Company Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Japan (continued)** |  |  |
| Juroku Financial Group, Inc. | &nbsp;&nbsp;1300 | $43642 |
| Justsystems Corp. | &nbsp;&nbsp;1500 | 38389 |
| JVCKenwood Corp. | &nbsp;&nbsp;6770 | 54289 |
| K&O Energy Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;800 | 15663 |
| Kaga Electronics Company, Ltd. | &nbsp;&nbsp;1200 | 22764 |
| Kagome Company, Ltd. | &nbsp;&nbsp;2300 | 45803 |
| Kaken Pharmaceutical Company, Ltd. | &nbsp;&nbsp;1200 | 31788 |
| Kakiyasu Honten Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;9178 |
| Kamakura Shinsho, Ltd. | &nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;4582 |
| Kameda Seika Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;700 | 19461 |
| Kamei Corp. | &nbsp;&nbsp;1300 | 22296 |
| Kanaden Corp. | &nbsp;&nbsp;1100 | 15417 |
| Kanadevia Corp. | &nbsp;&nbsp;5500 | 37161 |
| Kanagawa Chuo Kotsu Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;700 | 17196 |
| Kanamic Network Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;1777 |
| Kanamoto Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;600 | 13471 |
| Kaneka Corp. | &nbsp;&nbsp;1400 | 38627 |
| Kanematsu Corp. | &nbsp;&nbsp;3500 | 66609 |
| Kanto Denka Kogyo Company, Ltd. | &nbsp;&nbsp;2000 | 11658 |
| Katitas Company, Ltd. | &nbsp;&nbsp;1800 | 31193 |
| Kato Sangyo Company, Ltd. | &nbsp;&nbsp;1100 | 41942 |
| Kato Works Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;3660 |
| Kawada Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;600 | 16074 |
| KeePer Technical Laboratory Company, Ltd. (C) | &nbsp;&nbsp;&nbsp;&nbsp;500 | 12289 |
| Keihan Holdings Company, Ltd. | &nbsp;&nbsp;2200 | 46602 |
| Keihanshin Building Company, Ltd. | &nbsp;&nbsp;2000 | 20787 |
| Keikyu Corp. | &nbsp;&nbsp;3000 | 31288 |
| Kenko Mayonnaise Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;900 | 10706 |
| KH Neochem Company, Ltd. | &nbsp;&nbsp;1500 | 26271 |
| Kimoto Company, Ltd. | &nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;4785 |
| King Jim Company, Ltd. | &nbsp;&nbsp;1400 | &nbsp;&nbsp;&nbsp;8097 |
| Kissei Pharmaceutical Company, Ltd. | &nbsp;&nbsp;1100 | 30792 |
| Ki-Star Real Estate Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;600 | 19273 |
| Kitz Corp. | &nbsp;&nbsp;1500 | 12314 |
| Koa Corp. | &nbsp;&nbsp;1700 | &nbsp;&nbsp;&nbsp;9952 |
| Koatsu Gas Kogyo Company, Ltd. | &nbsp;&nbsp;3000 | 21777 |
| Kobe Electric Railway Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;4885 |
| Kohnan Shoji Company, Ltd. | &nbsp;&nbsp;1200 | 32455 |
| Kokuyo Company, Ltd. | 11600 | 66548 |
| Komatsu Matere Company, Ltd. | &nbsp;&nbsp;1700 | &nbsp;&nbsp;&nbsp;8567 |
| KOMEDA Holdings Company, Ltd. | &nbsp;&nbsp;2000 | 41257 |
| Komeri Company, Ltd. | &nbsp;&nbsp;1500 | 30628 |
| Komori Corp. | &nbsp;&nbsp;2300 | 23841 |
| Kondotec, Inc. | &nbsp;&nbsp;1300 | 13984 |
| Konica Minolta, Inc. (A) | 14200 | 46180 |
| Konishi Company, Ltd. | &nbsp;&nbsp;3100 | 24166 |
| Konoike Transport Company, Ltd. | &nbsp;&nbsp;1700 | 34714 |
| Koshidaka Holdings Company, Ltd. | &nbsp;&nbsp;1500 | 11691 |
| Kotobuki Spirits Company, Ltd. | &nbsp;&nbsp;2500 | 35660 |
| Krosaki Harima Corp. | &nbsp;&nbsp;&nbsp;&nbsp;500 | 11525 |
| KRS Corp. | &nbsp;&nbsp;1100 | 21941 |
| K's Holdings Corp. | &nbsp;&nbsp;5700 | 57928 |
| Kumagai Gumi Company, Ltd. | &nbsp;&nbsp;1300 | 37695 |
| Kumiai Chemical Industry Company, Ltd. | &nbsp;&nbsp;3400 | 18842 |
| Kura Sushi, Inc. | &nbsp;&nbsp;1100 | 27011 |
| Kurabo Industries, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;300 | 15538 |
| Kureha Corp. | &nbsp;&nbsp;1500 | 32694 |
| Kurimoto, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;7851 |
| Kusuri no Aoki Holdings Company, Ltd. | &nbsp;&nbsp;2100 | 52903 |
| KYB Corp. | &nbsp;&nbsp;2000 | 41371 |
| Kyodo Printing Company, Ltd. | &nbsp;&nbsp;2000 | 18029 |
| Kyoei Steel, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;4277 |
| Kyokuto Kaihatsu Kogyo Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;900 | 16717 |
| Kyokuyo Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;700 | 22304 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Japan (continued)** |  |  |
| Kyorin Pharmaceutical Company, Ltd. | 1900 | $19992 |
| Kyoritsu Maintenance Company, Ltd. | 2800 | 68356 |
| Kyosan Electric Manufacturing Company, Ltd. | 2000 | &nbsp;&nbsp;&nbsp;6817 |
| Kyushu Financial Group, Inc. | 6300 | 31794 |
| LA Holdings Company, Ltd. | &nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;8691 |
| Lacto Japan Company, Ltd. | &nbsp;&nbsp;800 | 20443 |
| LEC, Inc. | 1600 | 13009 |
| Leopalace21 Corp. | 6400 | 27559 |
| Life Corp. | 1600 | 24541 |
| Lifedrink Company, Inc. | 1600 | 23514 |
| LIFULL Company, Ltd. | 3800 | &nbsp;&nbsp;&nbsp;5070 |
| Link And Motivation, Inc. | 2300 | &nbsp;&nbsp;&nbsp;7850 |
| Lintec Corp. | 1900 | 38950 |
| Litalico, Inc. | 1300 | 11407 |
| M&A Capital Partners Company, Ltd. | 1000 | 20817 |
| Mabuchi Motor Company, Ltd. | 3200 | 47245 |
| Macnica Holdings, Inc. | 4400 | 59031 |
| Maeda Kosen Company, Ltd. | 2200 | 28947 |
| Maezawa Kasei Industries Company, Ltd. | 1100 | 13940 |
| Maezawa Kyuso Industries Company, Ltd. | 1800 | 15314 |
| Makino Milling Machine Company, Ltd. | &nbsp;&nbsp;800 | 63867 |
| Management Solutions Company, Ltd. | 1300 | 16023 |
| Mandom Corp. | 1600 | 15617 |
| Mani, Inc. | 3500 | 29965 |
| MarkLines Company, Ltd. | &nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;5307 |
| Mars Group Holdings Corp. | &nbsp;&nbsp;700 | 14014 |
| Marubun Corp. | &nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;1433 |
| Marudai Food Company, Ltd. | 1600 | 19955 |
| Maruha Nichiro Corp. | 1400 | 29595 |
| Maruichi Steel Tube, Ltd. | 2700 | 65157 |
| MARUKA FURUSATO Corp. | &nbsp;&nbsp;700 | 11255 |
| Marvelous, Inc. | 1400 | &nbsp;&nbsp;&nbsp;4946 |
| Matsuda Sangyo Company, Ltd. | &nbsp;&nbsp;500 | 11485 |
| Matsui Securities Company, Ltd. | 4900 | 23660 |
| Matsuyafoods Holdings Company, Ltd. | &nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;8218 |
| Max Company, Ltd. | &nbsp;&nbsp;700 | 22568 |
| Maxell, Ltd. | 2200 | 28985 |
| Maxvalu Tokai Company, Ltd. | 1100 | 24477 |
| MCJ Company, Ltd. | 3200 | 28876 |
| MEC Company, Ltd. | &nbsp;&nbsp;700 | 13087 |
| Media Do Company, Ltd. | &nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;7223 |
| Medical Data Vision Company, Ltd. | &nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;562 |
| Medikit Company, Ltd. | &nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;8781 |
| Medley, Inc. (A) | &nbsp;&nbsp;800 | 17586 |
| MedPeer, Inc. | &nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;3247 |
| Megmilk Snow Brand Company, Ltd. | 1400 | 26525 |
| Meidensha Corp. | &nbsp;&nbsp;800 | 30102 |
| Meiko Electronics Company, Ltd. | &nbsp;&nbsp;600 | 28213 |
| MEITEC Group Holdings, Inc. | 2000 | 44075 |
| Meito Sangyo Company, Ltd. | &nbsp;&nbsp;900 | 12669 |
| Menicon Company, Ltd. | 2500 | 19384 |
| Mercari, Inc. (A) | 2600 | 48136 |
| METAWATER Company, Ltd. | 1600 | 24630 |
| Micronics Japan Company, Ltd. | &nbsp;&nbsp;800 | 29884 |
| Midac Holdings Company, Ltd. | &nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;7129 |
| Mie Kotsu Group Holdings, Inc. | 3700 | 12829 |
| Milbon Company, Ltd. | &nbsp;&nbsp;912 | 15332 |
| Ministop Company, Ltd. | &nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;5069 |
| MIRAIT ONE Corp. | 4240 | 74566 |
| Mirarth Holdings, Inc. | 6300 | 16419 |
| Miroku Jyoho Service Company, Ltd. | &nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;8709 |
| Mitani Corp. | 2000 | 29857 |
| Mitsuba Corp. | 2300 | 13223 |
| Mitsubishi Logisnext Company, Ltd. | 1000 | 13606 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 60 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### International Small Company Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Japan (continued)** |  |  |
| Mitsubishi Logistics Corp. | 2800 | $22945 |
| Mitsubishi Materials Corp. | 3900 | 61628 |
| Mitsubishi Paper Mills, Ltd. | 2600 | 11445 |
| Mitsubishi Pencil Company, Ltd. | 1500 | 21191 |
| Mitsubishi Research Institute, Inc. | &nbsp;&nbsp;500 | 15888 |
| Mitsubishi Shokuhin Company, Ltd. | &nbsp;&nbsp;600 | 26342 |
| Mitsubishi Steel Manufacturing Company, Ltd. | 1000 | 10927 |
| Mitsui DM Sugar Company, Ltd. | 1000 | 21230 |
| Mitsui E&S Company, Ltd. | 4600 | 90728 |
| Mitsui High-Tec, Inc. | 2500 | 12237 |
| Mitsui Matsushima Holdings Company, Ltd. | &nbsp;&nbsp;300 | 10494 |
| Mitsui Mining & Smelting Company, Ltd. | 2200 | 76705 |
| Mitsui-Soko Holdings Company, Ltd. | 2700 | 73625 |
| Mitsuuroko Group Holdings Company, Ltd. | 2600 | 34267 |
| Mixi, Inc. | 1800 | 43457 |
| Mizuho Leasing Company, Ltd. | 4000 | 29679 |
| Mizuno Corp. | 1200 | 22082 |
| Mochida Pharmaceutical Company, Ltd. | &nbsp;&nbsp;900 | 18504 |
| Morinaga & Company, Ltd. | 3000 | 49447 |
| Morinaga Milk Industry Company, Ltd. | 3000 | 67399 |
| Morita Holdings Corp. | 2200 | 32844 |
| MOS Food Services, Inc. | 1000 | 25747 |
| MrMax Holdings, Ltd. | 1700 | &nbsp;&nbsp;&nbsp;7734 |
| m-up Holdings, Inc. | 2000 | 28677 |
| Musashi Seimitsu Industry Company, Ltd. | 2600 | 55200 |
| Nabtesco Corp. | 3300 | 58979 |
| Nachi-Fujikoshi Corp. | &nbsp;&nbsp;600 | 12862 |
| Nafco Company, Ltd. | 1100 | 13406 |
| Nagano Keiki Company, Ltd. | &nbsp;&nbsp;800 | 11017 |
| Nagase & Company, Ltd. | 3000 | 57813 |
| Nagoya Railroad Company, Ltd. | 6500 | 73527 |
| Nakamuraya Company, Ltd. | &nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;6499 |
| Nakanishi, Inc. | 2600 | 34164 |
| Nakayama Steel Works, Ltd. | 1100 | &nbsp;&nbsp;&nbsp;4746 |
| Namura Shipbuilding Company, Ltd. | 1152 | 25049 |
| Nankai Electric Railway Company, Ltd. | 3000 | 45366 |
| Natori Company, Ltd. | &nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;9782 |
| NEC Capital Solutions, Ltd. | &nbsp;&nbsp;800 | 21139 |
| Neturen Company, Ltd. | 2300 | 17355 |
| Nextage Company, Ltd. | 1900 | 22968 |
| NHK Spring Company, Ltd. | 2400 | 26132 |
| Nice Corp. | &nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;6921 |
| Nichias Corp. | 2300 | 88007 |
| Nichiban Company, Ltd. | &nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;9403 |
| Nichicon Corp. | &nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;4935 |
| Nichiden Corp. | &nbsp;&nbsp;600 | 11476 |
| Nichiha Corp. | 1200 | 24735 |
| Nichireki Group Company, Ltd. | 1200 | 20056 |
| Nichirin Company, Ltd. | 1040 | 24755 |
| Nifco, Inc. | &nbsp;&nbsp;800 | 18956 |
| Nihon Chouzai Company, Ltd. | &nbsp;&nbsp;800 | 17752 |
| Nihon Dempa Kogyo Company, Ltd. | 2500 | 13036 |
| Nihon Flush Company, Ltd. | 1000 | &nbsp;&nbsp;&nbsp;5657 |
| Nihon House Holdings Company, Ltd. | 1000 | &nbsp;&nbsp;&nbsp;2050 |
| Nihon Kagaku Sangyo Company, Ltd. | 1000 | 13714 |
| Nihon M&A Center Holdings, Inc. | 9700 | 49168 |
| Nihon Parkerizing Company, Ltd. | 3900 | 34385 |
| Nihon Tokushu Toryo Company, Ltd. | 1000 | 13785 |
| Nikkiso Company, Ltd. | 2100 | 18662 |
| Nikkon Holdings Company, Ltd. | 4400 | 97857 |
| Nippn Corp. | 1600 | 23651 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Japan (continued)** |  |  |
| Nippon Air Conditioning Services Company, Ltd. | &nbsp;&nbsp;1600 | $12471 |
| Nippon Beet Sugar Manufacturing Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;900 | 15038 |
| Nippon Carbon Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;500 | 14156 |
| Nippon Chemical Industrial Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;9867 |
| Nippon Chemi-Con Corp. (A) | &nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;9076 |
| Nippon Coke & Engineering Company, Ltd. (A) | 18000 | 10369 |
| Nippon Concrete Industries Company, Ltd. | &nbsp;&nbsp;2600 | &nbsp;&nbsp;&nbsp;5283 |
| Nippon Denko Company, Ltd. | &nbsp;&nbsp;6530 | 11279 |
| Nippon Densetsu Kogyo Company, Ltd. | &nbsp;&nbsp;2100 | 37353 |
| Nippon Electric Glass Company, Ltd. | &nbsp;&nbsp;2200 | 52201 |
| Nippon Gas Company, Ltd. | &nbsp;&nbsp;4300 | 79189 |
| Nippon Hume Corp. | &nbsp;&nbsp;2000 | 30181 |
| Nippon Kayaku Company, Ltd. | &nbsp;&nbsp;5300 | 47638 |
| Nippon Kodoshi Corp. | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;9812 |
| Nippon Light Metal Holdings Company, Ltd. | &nbsp;&nbsp;2820 | 31836 |
| Nippon Paper Industries Company, Ltd. | &nbsp;&nbsp;4600 | 33102 |
| Nippon Parking Development Company, Ltd. | &nbsp;&nbsp;8400 | 15375 |
| Nippon Rietec Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;3825 |
| Nippon Seiki Company, Ltd. | &nbsp;&nbsp;3000 | 29679 |
| Nippon Sharyo, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;8543 |
| Nippon Sheet Glass Company, Ltd. (A) | &nbsp;&nbsp;4100 | 12856 |
| Nippon Shinyaku Company, Ltd. | &nbsp;&nbsp;1800 | 39282 |
| Nippon Shokubai Company, Ltd. | &nbsp;&nbsp;3200 | 36493 |
| Nippon Signal Company, Ltd. | &nbsp;&nbsp;3000 | 22405 |
| Nippon Soda Company, Ltd. | &nbsp;&nbsp;1200 | 25267 |
| Nippon Thompson Company, Ltd. | &nbsp;&nbsp;4700 | 17392 |
| Nippon Yakin Kogyo Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;8270 |
| Nipro Corp. | &nbsp;&nbsp;6700 | 59346 |
| Nishikawa Rubber Company, Ltd. | &nbsp;&nbsp;1600 | 28787 |
| Nishimatsu Construction Company, Ltd. | &nbsp;&nbsp;1500 | 49936 |
| Nishi-Nippon Financial Holdings, Inc. | &nbsp;&nbsp;3900 | 58526 |
| Nishi-Nippon Railroad Company, Ltd. | &nbsp;&nbsp;2400 | 33859 |
| Nishio Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;800 | 22290 |
| Nissan Shatai Company, Ltd. | &nbsp;&nbsp;3400 | 25508 |
| Nissei ASB Machine Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;500 | 20312 |
| Nissei Plastic Industrial Company, Ltd. | &nbsp;&nbsp;1600 | &nbsp;&nbsp;&nbsp;9582 |
| Nissha Company, Ltd. | &nbsp;&nbsp;2300 | 21477 |
| Nisshinbo Holdings, Inc. | &nbsp;&nbsp;4768 | 30552 |
| Nissin Corp. | &nbsp;&nbsp;&nbsp;&nbsp;900 | 50492 |
| Nisso Holdings Company, Ltd. | &nbsp;&nbsp;2400 | 10787 |
| Nissui Corp. | &nbsp;&nbsp;9200 | 55905 |
| Nitta Corp. | &nbsp;&nbsp;&nbsp;&nbsp;800 | 21413 |
| Nittetsu Mining Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;600 | 30914 |
| Nitto Kogyo Corp. | &nbsp;&nbsp;&nbsp;&nbsp;600 | 12957 |
| Nitto Kohki Company, Ltd. | &nbsp;&nbsp;1000 | 12676 |
| Nitto Seiko Company, Ltd. | &nbsp;&nbsp;1700 | &nbsp;&nbsp;&nbsp;6747 |
| Noevir Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;800 | 24044 |
| Nojima Corp. | &nbsp;&nbsp;3200 | 69946 |
| NOK Corp. | &nbsp;&nbsp;&nbsp;&nbsp;900 | 13279 |
| Noritake Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;500 | 12668 |
| Noritsu Koki Company, Ltd. | &nbsp;&nbsp;3000 | 31745 |
| Noritz Corp. | &nbsp;&nbsp;2100 | 26914 |
| North Pacific Bank, Ltd. | 12900 | 51624 |
| NPR-RIKEN Corp. | &nbsp;&nbsp;1200 | 19530 |
| NS Tool Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;3935 |
| NS United Kaiun Kaisha, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;2708 |
| NSD Company, Ltd. | &nbsp;&nbsp;2200 | 54477 |
| NSK, Ltd. | &nbsp;&nbsp;3200 | 15048 |
| NTN Corp. | 18400 | 29058 |
| Obara Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;600 | 14922 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 61 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### International Small Company Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Japan (continued)** |  |  |
| Ohsho Food Service Corp. | &nbsp;&nbsp;600 | $15837 |
| Oiles Corp. | 1380 | 19759 |
| Okabe Company, Ltd. | 2600 | 14989 |
| Okamoto Industries, Inc. | &nbsp;&nbsp;600 | 20045 |
| Okamura Corp. | 2000 | 30796 |
| Okasan Securities Group, Inc. | 7000 | 32601 |
| Oki Electric Industry Company, Ltd. | 4700 | 52415 |
| Okinawa Cellular Telephone Company | &nbsp;&nbsp;800 | 28413 |
| Okinawa Financial Group, Inc. | 1140 | 24108 |
| OKUMA Corp. | 2200 | 55875 |
| Okumura Corp. | 1200 | 35825 |
| Okuwa Company, Ltd. | 1000 | &nbsp;&nbsp;&nbsp;6585 |
| Onoken Company, Ltd. | 1500 | 14565 |
| Onward Holdings Company, Ltd. | 2400 | &nbsp;&nbsp;&nbsp;9892 |
| Open Up Group, Inc. | 1200 | 14216 |
| Optex Group Company, Ltd. | 1900 | 22957 |
| Optim Corp. (A) | &nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;2631 |
| Optorun Company, Ltd. | 1100 | 12439 |
| Organo Corp. | &nbsp;&nbsp;500 | 31129 |
| Orient Corp. | 3180 | 21349 |
| Oriental Shiraishi Corp. | 7600 | 19411 |
| Origin Company, Ltd. | &nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;734 |
| Oro Company, Ltd. | &nbsp;&nbsp;700 | 14464 |
| Osaka Organic Chemical Industry, Ltd. | &nbsp;&nbsp;800 | 14390 |
| Osaka Steel Company, Ltd. | &nbsp;&nbsp;700 | 13700 |
| Osaki Electric Company, Ltd. | 3000 | 19959 |
| OSG Corp. | 3900 | 46009 |
| Oyo Corp. | 1300 | 27180 |
| Pacific Industrial Company, Ltd. | &nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;6552 |
| Pacific Metals Company, Ltd. | 1100 | 13350 |
| PAL GROUP Holdings Company, Ltd. | 1400 | 35021 |
| PALTAC Corp. | 1200 | 33598 |
| Paramount Bed Holdings Company, Ltd. | 1600 | 28472 |
| Park24 Company, Ltd. | 4200 | 53839 |
| Pasona Group, Inc. | 1300 | 20183 |
| Penta-Ocean Construction Company, Ltd. | 9900 | 62024 |
| PeptiDream, Inc. (A) | 3600 | 41057 |
| PIA Corp. (A) | &nbsp;&nbsp;500 | 10213 |
| Pickles Holdings Company, Ltd. | &nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;5388 |
| Pigeon Corp. | 5500 | 66882 |
| PILLAR Corp. | &nbsp;&nbsp;500 | 13420 |
| Pilot Corp. | 1200 | 33945 |
| Piolax, Inc. | 1200 | 14809 |
| PKSHA Technology, Inc. (A) | &nbsp;&nbsp;500 | 12182 |
| Pole To Win Holdings, Inc. | 2000 | &nbsp;&nbsp;&nbsp;5118 |
| Premium Group Company, Ltd. | &nbsp;&nbsp;900 | 13094 |
| Premium Water Holdings, Inc. | &nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;8474 |
| Press Kogyo Company, Ltd. | 2500 | &nbsp;&nbsp;&nbsp;9447 |
| Prestige International, Inc. | 5000 | 20925 |
| Prima Meat Packers, Ltd. | 1500 | 23587 |
| Procrea Holdings, Inc. | 2344 | 23281 |
| Pronexus, Inc. | &nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;4622 |
| PS Construction Company, Ltd. | &nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;9595 |
| Punch Industry Company, Ltd. | 1300 | &nbsp;&nbsp;&nbsp;3366 |
| QB Net Holdings Company, Ltd. | 1800 | 14244 |
| Qol Holdings Company, Ltd. | 1400 | 17988 |
| Quick Company, Ltd. | &nbsp;&nbsp;800 | 13134 |
| Raccoon Holdings, Inc. | &nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;3937 |
| Raito Kogyo Company, Ltd. | 1300 | 25809 |
| Raiznext Corp. | 2000 | 24877 |
| Raksul, Inc. (A) | 1200 | &nbsp;&nbsp;&nbsp;9284 |
| Rakus Company, Ltd. | 1200 | 19235 |
| Rasa Industries, Ltd. | &nbsp;&nbsp;600 | 16855 |
| Relo Group, Inc. | 2800 | 33230 |
| Rengo Company, Ltd. | 8600 | 46612 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Japan (continued)** |  |  |
| RENOVA, Inc. (A) | 1400 | $&nbsp;&nbsp;&nbsp;6311 |
| Resorttrust, Inc. | 4800 | 58620 |
| Retail Partners Company, Ltd. | &nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;2940 |
| Rheon Automatic Machinery Company, Ltd. | 1500 | 12917 |
| Ricoh Leasing Company, Ltd. | &nbsp;&nbsp;800 | 28480 |
| Riken Keiki Company, Ltd. | &nbsp;&nbsp;700 | 14649 |
| Riken Vitamin Company, Ltd. | 1400 | 26561 |
| Rion Company, Ltd. | &nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;9006 |
| Riso Kyoiku Company, Ltd. | 3400 | &nbsp;&nbsp;&nbsp;5285 |
| Rock Field Company, Ltd. | 1000 | 10815 |
| Rokko Butter Company, Ltd. | &nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;5084 |
| Roland Corp. | &nbsp;&nbsp;700 | 15376 |
| Rorze Corp. | 2500 | 35539 |
| Round One Corp. | 5500 | 56136 |
| Royal Holdings Company, Ltd. | &nbsp;&nbsp;600 | 10957 |
| Ryobi, Ltd. | 1400 | 20820 |
| Ryoden Corp. | &nbsp;&nbsp;800 | 15542 |
| Ryoyo Ryosan Holdings, Inc. | &nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;9205 |
| S Foods, Inc. | &nbsp;&nbsp;900 | 16345 |
| S&B Foods, Inc. | &nbsp;&nbsp;700 | 14913 |
| Sac's Bar Holdings, Inc. | &nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;3352 |
| Saibu Gas Holdings Company, Ltd. | 1500 | 18304 |
| Saint-Care Holding Corp. | 1900 | &nbsp;&nbsp;&nbsp;9993 |
| Saizeriya Company, Ltd. | &nbsp;&nbsp;800 | 27728 |
| Sakai Chemical Industry Company, Ltd. | &nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;1847 |
| Sakai Moving Service Company, Ltd. | 1000 | 18428 |
| Sakata INX Corp. | 1200 | 16187 |
| Sakata Seed Corp. | &nbsp;&nbsp;500 | 12159 |
| Sala Corp. | 3000 | 19997 |
| San-A Company, Ltd. | 1400 | 28690 |
| San-Ai Obbli Company, Ltd. | 2700 | 33972 |
| Sangetsu Corp. | 2100 | 43061 |
| Sanken Electric Company, Ltd. (A) | &nbsp;&nbsp;900 | 50363 |
| Sanki Engineering Company, Ltd. | 2000 | 56156 |
| Sankyo Frontier Company, Ltd. | &nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;8319 |
| Sankyo Seiko Company, Ltd. | 3200 | 13779 |
| Sankyo Tateyama, Inc. | 2500 | 11185 |
| Sankyu, Inc. | 1400 | 75094 |
| Sanoh Industrial Company, Ltd. | 1900 | &nbsp;&nbsp;&nbsp;8390 |
| Sanshin Electronics Company, Ltd. | &nbsp;&nbsp;700 | 11479 |
| Sanyo Chemical Industries, Ltd. | &nbsp;&nbsp;600 | 15210 |
| Sanyo Denki Company, Ltd. | &nbsp;&nbsp;400 | 26736 |
| Sanyo Electric Railway Company, Ltd. | 1600 | 21979 |
| Sanyo Shokai, Ltd. | &nbsp;&nbsp;700 | 12656 |
| Sanyo Trading Company, Ltd. | 1200 | 12089 |
| Sato Corp. | 1700 | 24358 |
| Sawai Group Holdings Company, Ltd. | 4500 | 57240 |
| SBI ARUHI Corp. | &nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;2748 |
| SBI Global Asset Management Company, Ltd. | 1300 | &nbsp;&nbsp;&nbsp;5679 |
| SBS Holdings, Inc. | &nbsp;&nbsp;900 | 18137 |
| Scroll Corp. | 2300 | 16979 |
| Seika Corp. | &nbsp;&nbsp;500 | 16159 |
| Seikagaku Corp. | 1700 | &nbsp;&nbsp;&nbsp;7227 |
| Seikitokyu Kogyo Company, Ltd. | 1600 | 16289 |
| Seiko Group Corp. | 1400 | 42478 |
| Seino Holdings Company, Ltd. | 1400 | 21509 |
| Seiren Company, Ltd. | 1900 | 30727 |
| Sekisui Jushi Corp. | 1600 | 21858 |
| Sekisui Kasei Company, Ltd. | 2500 | &nbsp;&nbsp;&nbsp;5708 |
| Senko Group Holdings Company, Ltd. | 4700 | 64052 |
| Senshu Electric Company, Ltd. | &nbsp;&nbsp;600 | 17542 |
| Senshu Ikeda Holdings, Inc. | 8000 | 31650 |
| Senshukai Company, Ltd. (A)(C) | 3300 | &nbsp;&nbsp;&nbsp;5593 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 62 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### International Small Company Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Japan (continued)** |  |  |
| Seria Company, Ltd. | &nbsp;&nbsp;2100 | $39077 |
| Seven Bank, Ltd. | 20300 | 37053 |
| Shibaura Electronics Company, Ltd. | &nbsp;&nbsp;1000 | 41516 |
| Shibaura Machine Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;600 | 13229 |
| Shibaura Mechatronics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;300 | 22600 |
| Shibuya Corp. | &nbsp;&nbsp;&nbsp;&nbsp;800 | 17883 |
| SHIFT, Inc. (A) | &nbsp;&nbsp;4500 | 54499 |
| Shikibo, Ltd. | &nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;7439 |
| Shikoku Electric Power Company, Inc. | &nbsp;&nbsp;5200 | 43576 |
| Shikoku Kasei Holdings Corp. | &nbsp;&nbsp;1700 | 23086 |
| Shima Seiki Manufacturing, Ltd. | &nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;7673 |
| Shimadaya Corp. | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;6398 |
| Shin Nippon Biomedical Laboratories, Ltd. | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;9868 |
| Shinagawa Refractories Company, Ltd. | &nbsp;&nbsp;2100 | 24162 |
| Shindengen Electric Manufacturing Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;7623 |
| Shin-Etsu Polymer Company, Ltd. | &nbsp;&nbsp;1900 | 22861 |
| Shinko Shoji Company, Ltd. | &nbsp;&nbsp;1900 | 12392 |
| Shinmaywa Industries, Ltd. | &nbsp;&nbsp;2400 | 26939 |
| Shinnihon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;6923 |
| Shinwa Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;700 | 14968 |
| Ship Healthcare Holdings, Inc. | &nbsp;&nbsp;2600 | 34994 |
| Shizuoka Gas Company, Ltd. | &nbsp;&nbsp;2500 | 18576 |
| SHO-BOND Holdings Company, Ltd. | &nbsp;&nbsp;1000 | 32664 |
| Shoei Company, Ltd. | &nbsp;&nbsp;1600 | 19319 |
| Showa Sangyo Company, Ltd. | &nbsp;&nbsp;1000 | 20693 |
| SIGMAXYZ Holdings, Inc. | &nbsp;&nbsp;3600 | 31302 |
| Siix Corp. | &nbsp;&nbsp;1600 | 12929 |
| Sinanen Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;500 | 21669 |
| Sinfonia Technology Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;700 | 47236 |
| Sinko Industries, Ltd. | &nbsp;&nbsp;1900 | 15742 |
| Sintokogio, Ltd. | &nbsp;&nbsp;1900 | 11388 |
| SKY Perfect JSAT Holdings, Inc. | &nbsp;&nbsp;7800 | 78152 |
| Smaregi, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;8447 |
| SMK Corp. | &nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;4691 |
| SMS Company, Ltd. | &nbsp;&nbsp;1600 | 16413 |
| Socionext, Inc. | &nbsp;&nbsp;4500 | 86212 |
| Sodick Company, Ltd. | &nbsp;&nbsp;2400 | 16442 |
| Softcreate Holdings Corp. | &nbsp;&nbsp;1400 | 21340 |
| Software Service, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;200 | 18267 |
| Soken Chemical & Engineering Company, Ltd. | &nbsp;&nbsp;1600 | 16852 |
| Solasto Corp. | &nbsp;&nbsp;3200 | &nbsp;&nbsp;&nbsp;9253 |
| Sotetsu Holdings, Inc. | &nbsp;&nbsp;3500 | 55087 |
| Sparx Group Company, Ltd. | &nbsp;&nbsp;1480 | 15151 |
| S-Pool, Inc. | &nbsp;&nbsp;5000 | 11863 |
| SRA Holdings | &nbsp;&nbsp;&nbsp;&nbsp;600 | 18959 |
| SRE Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;9423 |
| ST Corp. | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;7723 |
| St. Marc Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;800 | 12937 |
| Star Mica Holdings Company, Ltd. | &nbsp;&nbsp;2200 | 15160 |
| Star Micronics Company, Ltd. | &nbsp;&nbsp;1000 | 11660 |
| Starts Corp., Inc. | &nbsp;&nbsp;1300 | 41096 |
| Starzen Company, Ltd. | &nbsp;&nbsp;1800 | 13763 |
| Strike Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;700 | 17976 |
| Studio Alice Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;900 | 13369 |
| Sugimoto & Company, Ltd. | &nbsp;&nbsp;1400 | 16321 |
| SUMCO Corp. | &nbsp;&nbsp;5300 | 41544 |
| Sumida Corp. | &nbsp;&nbsp;1600 | 10737 |
| Suminoe Company, Ltd. | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;7780 |
| Sumitomo Bakelite Company, Ltd. | &nbsp;&nbsp;1500 | 43271 |
| Sumitomo Densetsu Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;600 | 25652 |
| Sumitomo Mitsui Construction Company, Ltd. | &nbsp;&nbsp;6000 | 24795 |
| Sumitomo Osaka Cement Company, Ltd. | &nbsp;&nbsp;1500 | 39291 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Japan (continued)** |  |  |
| Sumitomo Riko Company, Ltd. | &nbsp;&nbsp;2400 | $27749 |
| Sumitomo Seika Chemicals Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;500 | 15049 |
| Sun Frontier Fudousan Company, Ltd. | &nbsp;&nbsp;1000 | 14399 |
| Suruga Bank, Ltd. | &nbsp;&nbsp;3600 | 33501 |
| Suzuken Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;900 | 32542 |
| SWCC Corp. | &nbsp;&nbsp;1200 | 62568 |
| Systena Corp. | 12200 | 34556 |
| Syuppin Company, Ltd. | &nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;9394 |
| T RAD Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;500 | 15318 |
| Tachibana Eletech Company, Ltd. | &nbsp;&nbsp;1360 | 24985 |
| Tachi-S Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;7176 |
| Tadano, Ltd. | &nbsp;&nbsp;5000 | 33280 |
| Taihei Dengyo Kaisha, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;600 | 22340 |
| Taiho Kogyo Company, Ltd. | &nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;4729 |
| Taikisha, Ltd. | &nbsp;&nbsp;1800 | 32203 |
| Taisei Lamick Group Head Quarter & Innovation Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;8660 |
| Taiyo Holdings Company, Ltd. | &nbsp;&nbsp;2000 | 97696 |
| Taiyo Yuden Company, Ltd. | &nbsp;&nbsp;3900 | 68256 |
| Takamatsu Construction Group Company, Ltd. | &nbsp;&nbsp;1000 | 20348 |
| Takaoka Toko Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;700 | 11316 |
| Takara Bio, Inc. | &nbsp;&nbsp;2100 | 11709 |
| Takara Holdings, Inc. | &nbsp;&nbsp;5700 | 47387 |
| Takara Standard Company, Ltd. | &nbsp;&nbsp;2200 | 37079 |
| Takasago International Corp. | &nbsp;&nbsp;&nbsp;&nbsp;400 | 19350 |
| Takasago Thermal Engineering Company, Ltd. | &nbsp;&nbsp;1100 | 53992 |
| Takashimaya Company, Ltd. | &nbsp;&nbsp;2200 | 17194 |
| Takeuchi Manufacturing Company, Ltd. | &nbsp;&nbsp;1000 | 32452 |
| Takuma Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;800 | 11354 |
| Tama Home Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;4594 |
| Tamron Company, Ltd. | &nbsp;&nbsp;4800 | 29078 |
| Tamura Corp. | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;1990 |
| Tanseisha Company, Ltd. | &nbsp;&nbsp;1100 | 10135 |
| Tayca Corp. | &nbsp;&nbsp;1500 | 13438 |
| TDC Soft, Inc. | &nbsp;&nbsp;2400 | 22321 |
| TechMatrix Corp. | &nbsp;&nbsp;2000 | 31359 |
| TechnoPro Holdings, Inc. | &nbsp;&nbsp;2700 | 78683 |
| Teijin, Ltd. | &nbsp;&nbsp;5400 | 43771 |
| Teikoku Sen-I Company, Ltd. | &nbsp;&nbsp;1200 | 22611 |
| Tekken Corp. | &nbsp;&nbsp;&nbsp;&nbsp;800 | 16019 |
| Tess Holdings Company, Ltd. | &nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;5484 |
| The 77 Bank, Ltd. | &nbsp;&nbsp;2100 | 71666 |
| The Akita Bank, Ltd. | &nbsp;&nbsp;1100 | 22964 |
| The Awa Bank, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;900 | 17909 |
| The Bank of Iwate, Ltd. | &nbsp;&nbsp;1100 | 23211 |
| The Bank of Nagoya, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;500 | 27435 |
| The Bank of Saga, Ltd. | &nbsp;&nbsp;1000 | 16117 |
| The Chiba Kogyo Bank, Ltd. | &nbsp;&nbsp;1500 | 12392 |
| The Chugoku Electric Power Company, Inc. | &nbsp;&nbsp;7900 | 39139 |
| The Ehime Bank, Ltd. | &nbsp;&nbsp;2100 | 14587 |
| The First Bank of Toyama, Ltd. | &nbsp;&nbsp;2800 | 19182 |
| The Hyakugo Bank, Ltd. | &nbsp;&nbsp;9600 | 45929 |
| The Hyakujushi Bank, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;800 | 23203 |
| The Keiyo Bank, Ltd. | &nbsp;&nbsp;4400 | 30565 |
| The Kita-Nippon Bank, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;700 | 14379 |
| The Kiyo Bank, Ltd. | &nbsp;&nbsp;2300 | 39741 |
| The Miyazaki Bank, Ltd. | &nbsp;&nbsp;1000 | 25500 |
| The Monogatari Corp. | &nbsp;&nbsp;1200 | 32512 |
| The Musashino Bank, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;900 | 20357 |
| The Nanto Bank, Ltd. | &nbsp;&nbsp;1500 | 42679 |
| The Nippon Road Company, Ltd. | &nbsp;&nbsp;1000 | 17391 |
| The Nisshin Oillio Group, Ltd. | &nbsp;&nbsp;1200 | 40666 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 63 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### International Small Company Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Japan (continued)** |  |  |
| The Ogaki Kyoritsu Bank, Ltd. | &nbsp;&nbsp;1600 | $27750 |
| The Oita Bank, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;900 | 24954 |
| The Okinawa Electric Power Company, Inc. | &nbsp;&nbsp;1990 | 12548 |
| The Pack Corp. | &nbsp;&nbsp;2400 | 18331 |
| The San-In Godo Bank, Ltd. | &nbsp;&nbsp;4300 | 35521 |
| The Shiga Bank, Ltd. | &nbsp;&nbsp;1700 | 68193 |
| The Shikoku Bank, Ltd. | &nbsp;&nbsp;2800 | 21559 |
| The Shimizu Bank, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;4912 |
| The Sumitomo Warehouse Company, Ltd. | &nbsp;&nbsp;1824 | 37522 |
| The Tochigi Bank, Ltd. | &nbsp;&nbsp;8000 | 22367 |
| The Toho Bank, Ltd. | 12000 | 27487 |
| The Tohoku Bank, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;3005 |
| The Tottori Bank, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;3476 |
| The Towa Bank, Ltd. | &nbsp;&nbsp;2900 | 13955 |
| The Yamagata Bank, Ltd. | &nbsp;&nbsp;2000 | 20753 |
| The Yamanashi Chuo Bank, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;700 | 12318 |
| Tigers Polymer Corp. | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;5552 |
| TKC Corp. | &nbsp;&nbsp;1300 | 38045 |
| Toa Corp. (Hyogo) | &nbsp;&nbsp;1400 | &nbsp;&nbsp;&nbsp;9864 |
| Toa Corp. (Tokyo) | &nbsp;&nbsp;1300 | 13622 |
| Toagosei Company, Ltd. | &nbsp;&nbsp;4300 | 41689 |
| TOBISHIMA HOLDINGS, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;720 | &nbsp;&nbsp;&nbsp;9138 |
| TOC Company, Ltd. | &nbsp;&nbsp;3400 | 15735 |
| Tocalo Company, Ltd. | &nbsp;&nbsp;1400 | 18447 |
| Toda Corp. | &nbsp;&nbsp;8400 | 53340 |
| Toda Kogyo Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;2455 |
| Toei Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;500 | 18126 |
| Toenec Corp. | &nbsp;&nbsp;3000 | 25399 |
| Toho Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;600 | 12983 |
| Toho Gas Company, Ltd. | &nbsp;&nbsp;1300 | 36275 |
| Toho Holdings Company, Ltd. | &nbsp;&nbsp;1900 | 61397 |
| Toho Titanium Company, Ltd. | &nbsp;&nbsp;1300 | 11758 |
| Toho Zinc Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;3845 |
| Tokai Carbon Company, Ltd. | &nbsp;&nbsp;6700 | 47323 |
| Tokai Corp. | &nbsp;&nbsp;1200 | 17701 |
| TOKAI Holdings Corp. | &nbsp;&nbsp;4000 | 27607 |
| Tokai Rika Company, Ltd. | &nbsp;&nbsp;2600 | 40061 |
| Tokai Tokyo Financial Holdings, Inc. | &nbsp;&nbsp;8400 | 28797 |
| Token Corp. | &nbsp;&nbsp;&nbsp;&nbsp;210 | 20584 |
| Tokushu Tokai Paper Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;600 | 15969 |
| Tokuyama Corp. | &nbsp;&nbsp;1800 | 37614 |
| Tokyo Base Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;2627 |
| Tokyo Electron Device, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;600 | 11766 |
| Tokyo Energy & Systems, Inc. | &nbsp;&nbsp;2000 | 17788 |
| Tokyo Kiraboshi Financial Group, Inc. | &nbsp;&nbsp;1136 | 47832 |
| Tokyo Rope Manufacturing Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;1760 |
| Tokyo Seimitsu Company, Ltd. | &nbsp;&nbsp;1300 | 86380 |
| Tokyo Steel Manufacturing Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;7341 |
| Tokyo Tekko Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;400 | 15061 |
| Tokyo Theatres Company, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;6798 |
| Tokyotokeiba Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;600 | 19870 |
| Tokyu Construction Company, Ltd. | &nbsp;&nbsp;3900 | 28613 |
| Tomato Bank, Ltd. | &nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;9337 |
| Tomen Devices Corp. | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;8360 |
| Tomoku Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;9961 |
| TOMONY Holdings, Inc. | 10600 | 39679 |
| Tomy Company, Ltd. | &nbsp;&nbsp;2900 | 65429 |
| Topcon Corp. | &nbsp;&nbsp;3300 | 74657 |
| Topre Corp. | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;9283 |
| Topy Industries, Ltd. | &nbsp;&nbsp;1300 | 20422 |
| Torex Semiconductor, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;6536 |
| Toridoll Holdings Corp. | &nbsp;&nbsp;1200 | 34701 |
| Torishima Pump Manufacturing Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;900 | 12460 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Japan (continued)** |  |  |
| Tosei Corp. | 1600 | $28666 |
| Toshiba TEC Corp. | 1100 | 22422 |
| Tosho Company, Ltd. | 1300 | &nbsp;&nbsp;&nbsp;5453 |
| Totetsu Kogyo Company, Ltd. | 1000 | 26823 |
| Towa Corp. | 2400 | 33455 |
| Towa Pharmaceutical Company, Ltd. | 1500 | 31127 |
| Toyo Construction Company, Ltd. | &nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;6957 |
| Toyo Corp. | 1100 | 11392 |
| Toyo Denki Seizo KK | &nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;6075 |
| Toyo Engineering Corp. | 2200 | 11865 |
| Toyo Gosei Company, Ltd. | &nbsp;&nbsp;300 | 10089 |
| Toyo Kanetsu KK | &nbsp;&nbsp;400 | 10988 |
| Toyo Tanso Company, Ltd. | 1000 | 33920 |
| Toyo Tire Corp. | 2000 | 42362 |
| Toyo Wharf & Warehouse Company, Ltd. | &nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;5705 |
| Toyobo Company, Ltd. | 4093 | 26071 |
| Toyoda Gosei Company, Ltd. | 2000 | 39348 |
| Toyota Boshoku Corp. | 2100 | 28629 |
| TPR Company, Ltd. | 1400 | 18916 |
| Transaction Company, Ltd. | 1700 | 27620 |
| Transcosmos, Inc. | &nbsp;&nbsp;800 | 19427 |
| Tri Chemical Laboratories, Inc. | &nbsp;&nbsp;500 | 11511 |
| Trusco Nakayama Corp. | 2200 | 31478 |
| TS Tech Company, Ltd. | 4400 | 51597 |
| TSI Holdings Company, Ltd. | 1870 | 14765 |
| Tsubaki Nakashima Company, Ltd. | 2300 | &nbsp;&nbsp;&nbsp;5325 |
| Tsubakimoto Chain Company | 3600 | 44823 |
| Tsuburaya Fields Holdings, Inc. | 2100 | 30219 |
| Tsugami Corp. | 1600 | 20586 |
| Tsukishima Holdings Company, Ltd. | 2000 | 29526 |
| Tsukuba Bank, Ltd. | 5700 | &nbsp;&nbsp;&nbsp;9185 |
| Tsumura & Company | 2600 | 62753 |
| Tsurumi Manufacturing Company, Ltd. | 1000 | 25245 |
| TV Asahi Holdings Corp. | &nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;9686 |
| UACJ Corp. | 1003 | 36693 |
| UBE Corp. | 3000 | 47088 |
| Ubicom Holdings, Inc. | &nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;3308 |
| Uchida Yoko Company, Ltd. | &nbsp;&nbsp;400 | 26581 |
| Ulvac, Inc. | 1100 | 40349 |
| U-Next Holdings Company, Ltd. | 1500 | 23897 |
| Unipres Corp. | &nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;1332 |
| United Arrows, Ltd. | 1600 | 23729 |
| United Super Markets Holdings, Inc. | 2838 | 17981 |
| UNITED, Inc. | 2600 | 10365 |
| Universal Entertainment Corp. (A) | 1200 | &nbsp;&nbsp;&nbsp;8080 |
| Ushio, Inc. | 2600 | 32298 |
| UT Group Company, Ltd. | 1500 | 25629 |
| V Technology Company, Ltd. | &nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;8497 |
| Valor Holdings Company, Ltd. | 1700 | 29738 |
| Valqua, Ltd. | 1000 | 21282 |
| Value HR Company, Ltd. (C) | 1200 | 13219 |
| ValueCommerce Company, Ltd. | &nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;4861 |
| Vector, Inc. | &nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;6051 |
| Vertex Corp. | 1100 | 17534 |
| Vision, Inc. | 3300 | 26347 |
| Visional, Inc. (A) | &nbsp;&nbsp;900 | 69294 |
| Vital KSK Holdings, Inc. | 2100 | 17658 |
| VT Holdings Company, Ltd. | 6600 | 21594 |
| Wacoal Holdings Corp. | 1300 | 44766 |
| Wacom Company, Ltd. | 2700 | 12816 |
| Wakachiku Construction Company, Ltd. | &nbsp;&nbsp;900 | 25588 |
| Wakita & Company, Ltd. | 2300 | 26934 |
| Warabeya Nichiyo Holdings Company, Ltd. | &nbsp;&nbsp;900 | 15069 |
| Watahan & Company, Ltd. | &nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;6794 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 64 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### International Small Company Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Japan (continued)** |  |  |
| WDB Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;700 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8221 |
| Weathernews, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16172 |
| Wellneo Sugar Company, Ltd. | &nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17211 |
| West Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8273 |
| Will Group, Inc. | &nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7770 |
| WingArc1st, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5717 |
| World Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12495 |
| World Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9457 |
| Wowow, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4204 |
| Yahagi Construction Company, Ltd. | &nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23605 |
| YAKUODO Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11252 |
| YAMABIKO Corp. | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11755 |
| YAMADA Consulting Group Company, Ltd. | &nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12335 |
| Yamae Group Holdings Company, Ltd. | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16338 |
| Yamaguchi Financial Group, Inc. | &nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32276 |
| Yamazen Corp. | &nbsp;&nbsp;1900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16500 |
| Yaoko Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19794 |
| Yasuda Logistics Corp. | &nbsp;&nbsp;1400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17762 |
| Yellow Hat, Ltd. | &nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25651 |
| Yodogawa Steel Works, Ltd. | &nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19854 |
| Yokogawa Bridge Holdings Corp. | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17532 |
| Yokorei Company, Ltd. | &nbsp;&nbsp;2900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17252 |
| Yokowo Company, Ltd. | &nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11217 |
| Yomeishu Seizo Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10803 |
| Yondoshi Holdings, Inc. | &nbsp;&nbsp;1300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15669 |
| Yonex Company, Ltd. | &nbsp;&nbsp;2100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42228 |
| Yorozu Corp. | &nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11567 |
| Yoshinoya Holdings Company, Ltd. | &nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54287 |
| Yuasa Trading Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21857 |
| Yukiguni Factory Company, Ltd. | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7637 |
| Yurtec Corp. | &nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29380 |
| Yushiro, Inc. | &nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14718 |
| Zacros Corp. | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20861 |
| Zenkoku Hosho Company, Ltd. | &nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53828 |
| Zenrin Company, Ltd. | &nbsp;&nbsp;1950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13888 |
| Zeon Corp. | &nbsp;&nbsp;3800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38581 |
| ZERIA Pharmaceutical Company, Ltd. | &nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17361 |
| ZIGExN Company, Ltd. | &nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6049 |
|  |  | 23084440 |
| **Liechtenstein - 0.1%** |  |  |
| Liechtensteinische Landesbank AG | &nbsp;&nbsp;&nbsp;&nbsp;587 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60440 |
| VP Bank AG, Class A | &nbsp;&nbsp;&nbsp;&nbsp;188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19322 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79762 |
| **Luxembourg - 0.5%** |  |  |
| APERAM SA | &nbsp;&nbsp;1921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62211 |
| Aroundtown SA (A) | 34053 | &nbsp;&nbsp;&nbsp;&nbsp;125275 |
| B&S Group Sarl (D) | &nbsp;&nbsp;&nbsp;&nbsp;983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6781 |
| Befesa SA (D) | &nbsp;&nbsp;1789 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58349 |
| d'Amico International Shipping SA | &nbsp;&nbsp;3434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13949 |
| Eurofins Scientific SE | &nbsp;&nbsp;&nbsp;&nbsp;865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61645 |
| Grand City Properties SA (A) | &nbsp;&nbsp;2964 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38838 |
| RTL Group SA | &nbsp;&nbsp;1577 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69186 |
| SES SA | 17182 | &nbsp;&nbsp;&nbsp;&nbsp;122447 |
| Sword Group | &nbsp;&nbsp;&nbsp;&nbsp;278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12504 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;571185 |
| **Macau - 0.0%** |  |  |
| MECOM Power and Construction, Ltd. (A) | 87750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1256 |
| Wynn Macau, Ltd. | 12800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8859 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10115 |
| **Malaysia - 0.0%** |  |  |
| Frencken Group, Ltd. | 15400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15020 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Mauritius - 0.0%** |  |  |
| Capital, Ltd. | &nbsp;&nbsp;9014 | $&nbsp;&nbsp;&nbsp;&nbsp;10563 |
| **Mongolia - 0.0%** |  |  |
| Mongolian Mining Corp. (A)(C) | 12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9754 |
| **Netherlands - 2.3%** |  |  |
| Aalberts NV | &nbsp;&nbsp;2473 | &nbsp;&nbsp;&nbsp;&nbsp;89818 |
| Acomo NV | &nbsp;&nbsp;&nbsp;&nbsp;876 | &nbsp;&nbsp;&nbsp;&nbsp;23735 |
| Akzo Nobel NV | &nbsp;&nbsp;2317 | &nbsp;&nbsp;&nbsp;&nbsp;162570 |
| Alfen N.V. (A)(D) | &nbsp;&nbsp;&nbsp;&nbsp;681 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8352 |
| AMG Critical Materials NV | &nbsp;&nbsp;1350 | &nbsp;&nbsp;&nbsp;&nbsp;34746 |
| Arcadis NV | &nbsp;&nbsp;2707 | &nbsp;&nbsp;&nbsp;&nbsp;131452 |
| Basic-Fit NV (A)(C)(D) | &nbsp;&nbsp;2099 | &nbsp;&nbsp;&nbsp;&nbsp;63976 |
| BE Semiconductor Industries NV | &nbsp;&nbsp;1367 | &nbsp;&nbsp;&nbsp;&nbsp;204440 |
| Brunel International NV (C) | &nbsp;&nbsp;1169 | &nbsp;&nbsp;&nbsp;&nbsp;12343 |
| Corbion NV | &nbsp;&nbsp;1806 | &nbsp;&nbsp;&nbsp;&nbsp;38780 |
| CTP NV (D) | &nbsp;&nbsp;2827 | &nbsp;&nbsp;&nbsp;&nbsp;59558 |
| Flow Traders, Ltd. (A) | &nbsp;&nbsp;1631 | &nbsp;&nbsp;&nbsp;&nbsp;53001 |
| ForFarmers NV | &nbsp;&nbsp;2398 | &nbsp;&nbsp;&nbsp;&nbsp;11292 |
| Fugro NV | &nbsp;&nbsp;3425 | &nbsp;&nbsp;&nbsp;&nbsp;48152 |
| IMCD NV | &nbsp;&nbsp;1311 | &nbsp;&nbsp;&nbsp;&nbsp;176324 |
| Innoconcepts NV (A)(B) | 10527 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Just Eat Takeaway.com NV (A)(D) | &nbsp;&nbsp;2415 | &nbsp;&nbsp;&nbsp;&nbsp;55294 |
| Kendrion NV | &nbsp;&nbsp;1244 | &nbsp;&nbsp;&nbsp;&nbsp;17020 |
| Koninklijke BAM Groep NV | 13114 | &nbsp;&nbsp;&nbsp;&nbsp;116982 |
| Koninklijke Heijmans NV | &nbsp;&nbsp;1599 | &nbsp;&nbsp;&nbsp;&nbsp;103575 |
| Koninklijke Vopak NV | &nbsp;&nbsp;2696 | &nbsp;&nbsp;&nbsp;&nbsp;133909 |
| Nedap NV | &nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp;19140 |
| OCI NV (A) | &nbsp;&nbsp;2623 | &nbsp;&nbsp;&nbsp;&nbsp;23721 |
| Pharming Group NV (A) | 30666 | &nbsp;&nbsp;&nbsp;&nbsp;32890 |
| PostNL NV (C) | 17290 | &nbsp;&nbsp;&nbsp;&nbsp;18802 |
| PPHE Hotel Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;592 | &nbsp;&nbsp;&nbsp;&nbsp;13011 |
| QIAGEN NV (A) | &nbsp;&nbsp;3559 | &nbsp;&nbsp;&nbsp;&nbsp;171046 |
| Randstad NV | &nbsp;&nbsp;3405 | &nbsp;&nbsp;&nbsp;&nbsp;157383 |
| SBM Offshore NV | &nbsp;&nbsp;5505 | &nbsp;&nbsp;&nbsp;&nbsp;145545 |
| SIF Holding NV (A) | &nbsp;&nbsp;&nbsp;&nbsp;588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6274 |
| Signify NV (D) | &nbsp;&nbsp;5215 | &nbsp;&nbsp;&nbsp;&nbsp;141601 |
| Sligro Food Group NV | &nbsp;&nbsp;1151 | &nbsp;&nbsp;&nbsp;&nbsp;19533 |
| TKH Group NV | &nbsp;&nbsp;1628 | &nbsp;&nbsp;&nbsp;&nbsp;74590 |
| TomTom NV (A) | &nbsp;&nbsp;3258 | &nbsp;&nbsp;&nbsp;&nbsp;19026 |
| Van Lanschot Kempen NV | &nbsp;&nbsp;1307 | &nbsp;&nbsp;&nbsp;&nbsp;84098 |
|  |  | 2471979 |
| **New Zealand - 0.4%** |  |  |
| Air New Zealand, Ltd. | 37974 | &nbsp;&nbsp;&nbsp;&nbsp;13542 |
| Channel Infrastructure NZ, Ltd. | 12291 | &nbsp;&nbsp;&nbsp;&nbsp;16483 |
| Delegat Group, Ltd. | &nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3072 |
| Fletcher Building, Ltd. (A) | &nbsp;&nbsp;8100 | &nbsp;&nbsp;&nbsp;&nbsp;14283 |
| Freightways Group, Ltd. | &nbsp;&nbsp;5690 | &nbsp;&nbsp;&nbsp;&nbsp;38521 |
| Genesis Energy, Ltd. | &nbsp;&nbsp;8189 | &nbsp;&nbsp;&nbsp;&nbsp;11351 |
| Gentrack Group, Ltd. (A) | &nbsp;&nbsp;3060 | &nbsp;&nbsp;&nbsp;&nbsp;23069 |
| Hallenstein Glasson Holdings, Ltd. | &nbsp;&nbsp;3354 | &nbsp;&nbsp;&nbsp;&nbsp;16820 |
| Heartland Group Holdings, Ltd. | 31010 | &nbsp;&nbsp;&nbsp;&nbsp;15117 |
| Investore Property, Ltd. | 15094 | &nbsp;&nbsp;&nbsp;&nbsp;10787 |
| KMD Brands, Ltd. (A) | 25838 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4332 |
| Manawa Energy, Ltd. | &nbsp;&nbsp;1665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6387 |
| NZME, Ltd. | 13259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9117 |
| NZX, Ltd. | 18453 | &nbsp;&nbsp;&nbsp;&nbsp;16748 |
| Oceania Healthcare, Ltd. (A) | 41920 | &nbsp;&nbsp;&nbsp;&nbsp;17127 |
| Pacific Edge, Ltd. (A) | 27936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1636 |
| PGG Wrightson, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;819 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1044 |
| Restaurant Brands New Zealand, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1665 |
| Ryman Healthcare, Ltd. (A) | &nbsp;&nbsp;7717 | &nbsp;&nbsp;&nbsp;&nbsp;10534 |
| Sanford, Ltd. | &nbsp;&nbsp;2767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9692 |
| Scales Corp., Ltd. | &nbsp;&nbsp;5176 | &nbsp;&nbsp;&nbsp;&nbsp;15210 |
| Serko, Ltd. (A) | &nbsp;&nbsp;2827 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5485 |
| Skellerup Holdings, Ltd. | &nbsp;&nbsp;7637 | &nbsp;&nbsp;&nbsp;&nbsp;21922 |
| SKY Network Television, Ltd. | &nbsp;&nbsp;6265 | &nbsp;&nbsp;&nbsp;&nbsp;11412 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 65 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### International Small Company Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **New Zealand (continued)** |  |  |
| SKYCITY Entertainment Group, Ltd. (A) | &nbsp;&nbsp;20410 | $&nbsp;&nbsp;&nbsp;11684 |
| Summerset Group Holdings, Ltd. | &nbsp;&nbsp;&nbsp;5502 | &nbsp;&nbsp;&nbsp;37719 |
| The Warehouse Group, Ltd. (A) | &nbsp;&nbsp;&nbsp;9894 | &nbsp;&nbsp;&nbsp;&nbsp;4825 |
| Tourism Holdings, Ltd. | &nbsp;&nbsp;&nbsp;7292 | &nbsp;&nbsp;&nbsp;&nbsp;9999 |
| TOWER, Ltd. | &nbsp;&nbsp;10300 | &nbsp;&nbsp;&nbsp;&nbsp;9987 |
| Vista Group International, Ltd. (A) | &nbsp;&nbsp;&nbsp;7682 | &nbsp;&nbsp;&nbsp;16369 |
|  |  | 385939 |
| **Norway - 0.8%** |  |  |
| ABG Sundal Collier Holding ASA | &nbsp;&nbsp;24237 | &nbsp;&nbsp;&nbsp;16885 |
| AF Gruppen ASA (A) | &nbsp;&nbsp;&nbsp;&nbsp;717 | &nbsp;&nbsp;&nbsp;10876 |
| Akastor ASA | &nbsp;&nbsp;&nbsp;6104 | &nbsp;&nbsp;&nbsp;&nbsp;7402 |
| ArcticZymes Technologies ASA (A) | &nbsp;&nbsp;&nbsp;&nbsp;962 | &nbsp;&nbsp;&nbsp;&nbsp;1648 |
| Atea ASA (A) | &nbsp;&nbsp;&nbsp;2860 | &nbsp;&nbsp;&nbsp;45210 |
| Axactor ASA (A) | &nbsp;&nbsp;14729 | &nbsp;&nbsp;&nbsp;10841 |
| B2 Impact ASA | &nbsp;&nbsp;&nbsp;8867 | &nbsp;&nbsp;&nbsp;12542 |
| BLUENORD ASA (A) | &nbsp;&nbsp;&nbsp;&nbsp;912 | &nbsp;&nbsp;&nbsp;44604 |
| Bonheur ASA | &nbsp;&nbsp;&nbsp;1411 | &nbsp;&nbsp;&nbsp;32028 |
| Bouvet ASA | &nbsp;&nbsp;&nbsp;3002 | &nbsp;&nbsp;&nbsp;23759 |
| BW Offshore, Ltd. | &nbsp;&nbsp;&nbsp;4568 | &nbsp;&nbsp;&nbsp;13729 |
| Cloudberry Clean Energy ASA (A) | &nbsp;&nbsp;&nbsp;5431 | &nbsp;&nbsp;&nbsp;&nbsp;6704 |
| Crayon Group Holding ASA (A)(D) | &nbsp;&nbsp;&nbsp;1983 | &nbsp;&nbsp;&nbsp;28490 |
| DNO ASA | &nbsp;&nbsp;18710 | &nbsp;&nbsp;&nbsp;23844 |
| Elkem ASA (A)(D) | &nbsp;&nbsp;&nbsp;6721 | &nbsp;&nbsp;&nbsp;15824 |
| Elmera Group ASA (D) | &nbsp;&nbsp;&nbsp;5860 | &nbsp;&nbsp;&nbsp;20533 |
| Elopak ASA | &nbsp;&nbsp;&nbsp;2737 | &nbsp;&nbsp;&nbsp;12778 |
| Europris ASA (D) | &nbsp;&nbsp;&nbsp;6315 | &nbsp;&nbsp;&nbsp;53555 |
| FLEX LNG, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;294 | &nbsp;&nbsp;&nbsp;&nbsp;6551 |
| FLEX LNG, Ltd. (New York Stock Exchange) (C) | &nbsp;&nbsp;&nbsp;&nbsp;490 | &nbsp;&nbsp;&nbsp;10770 |
| Golden Ocean Group, Ltd. | &nbsp;&nbsp;&nbsp;2752 | &nbsp;&nbsp;&nbsp;20387 |
| Grieg Seafood ASA (A)(C) | &nbsp;&nbsp;&nbsp;2264 | &nbsp;&nbsp;&nbsp;17039 |
| Hexagon Composites ASA (A) | &nbsp;&nbsp;&nbsp;6450 | &nbsp;&nbsp;&nbsp;11656 |
| Hexagon Purus ASA (A) | &nbsp;&nbsp;&nbsp;2213 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;502 |
| Kid ASA (D) | &nbsp;&nbsp;&nbsp;1128 | &nbsp;&nbsp;&nbsp;17442 |
| Kitron ASA | &nbsp;&nbsp;&nbsp;9158 | &nbsp;&nbsp;&nbsp;56891 |
| LINK Mobility Group Holding ASA (A) | &nbsp;&nbsp;&nbsp;9965 | &nbsp;&nbsp;&nbsp;28636 |
| Medistim ASA | &nbsp;&nbsp;&nbsp;&nbsp;352 | &nbsp;&nbsp;&nbsp;&nbsp;7309 |
| MPC Container Ships ASA | &nbsp;&nbsp;15398 | &nbsp;&nbsp;&nbsp;24371 |
| Multiconsult ASA (D) | &nbsp;&nbsp;&nbsp;&nbsp;554 | &nbsp;&nbsp;&nbsp;11481 |
| Norske Skog ASA (A)(C)(D) | &nbsp;&nbsp;&nbsp;1815 | &nbsp;&nbsp;&nbsp;&nbsp;3997 |
| Norwegian Air Shuttle ASA (A) | &nbsp;&nbsp;11101 | &nbsp;&nbsp;&nbsp;16093 |
| Odfjell Drilling, Ltd. | &nbsp;&nbsp;&nbsp;4970 | &nbsp;&nbsp;&nbsp;32892 |
| Panoro Energy ASA (A) | &nbsp;&nbsp;&nbsp;3699 | &nbsp;&nbsp;&nbsp;&nbsp;8327 |
| Pareto Bank ASA | &nbsp;&nbsp;&nbsp;1457 | &nbsp;&nbsp;&nbsp;11969 |
| PhotoCure ASA (A) | &nbsp;&nbsp;&nbsp;2625 | &nbsp;&nbsp;&nbsp;14114 |
| SATS ASA (A) | &nbsp;&nbsp;&nbsp;5362 | &nbsp;&nbsp;&nbsp;19371 |
| Scatec ASA (A)(D) | &nbsp;&nbsp;&nbsp;4993 | &nbsp;&nbsp;&nbsp;46128 |
| Selvaag Bolig ASA | &nbsp;&nbsp;&nbsp;1842 | &nbsp;&nbsp;&nbsp;&nbsp;6416 |
| SmartCraft ASA (A) | &nbsp;&nbsp;&nbsp;4384 | &nbsp;&nbsp;&nbsp;11657 |
| Solstad Maritime Holding AS | &nbsp;&nbsp;&nbsp;1586 | &nbsp;&nbsp;&nbsp;&nbsp;3768 |
| Sparebanken More | &nbsp;&nbsp;&nbsp;1230 | &nbsp;&nbsp;&nbsp;13063 |
| TGS ASA | &nbsp;&nbsp;&nbsp;2915 | &nbsp;&nbsp;&nbsp;24872 |
|  |  | 806954 |
| **Peru - 0.1%** |  |  |
| Hochschild Mining PLC | &nbsp;&nbsp;23905 | &nbsp;&nbsp;&nbsp;84259 |
| **Poland - 0.1%** |  |  |
| InPost SA (A) | &nbsp;&nbsp;&nbsp;4504 | &nbsp;&nbsp;&nbsp;74954 |
| **Portugal - 0.5%** |  |  |
| Altri SGPS SA | &nbsp;&nbsp;&nbsp;2851 | &nbsp;&nbsp;&nbsp;16375 |
| Banco Comercial Portugues SA | 362801 | 282636 |
| Corticeira Amorim SGPS SA | &nbsp;&nbsp;&nbsp;2100 | &nbsp;&nbsp;&nbsp;19598 |
| CTT-Correios de Portugal SA | &nbsp;&nbsp;&nbsp;4239 | &nbsp;&nbsp;&nbsp;37727 |
| Mota-Engil SGPS SA | &nbsp;&nbsp;&nbsp;5636 | &nbsp;&nbsp;&nbsp;25533 |
| NOS SGPS SA | &nbsp;&nbsp;&nbsp;4757 | &nbsp;&nbsp;&nbsp;21713 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Portugal (continued)** |  |  |
| REN - Redes Energeticas Nacionais SGPS SA | &nbsp;&nbsp;&nbsp;&nbsp;14895 | $&nbsp;&nbsp;&nbsp;&nbsp;53100 |
| Sonae SGPS SA | &nbsp;&nbsp;&nbsp;&nbsp;34734 | &nbsp;&nbsp;&nbsp;&nbsp;49454 |
| The Navigator Company SA | &nbsp;&nbsp;&nbsp;&nbsp;6459 | &nbsp;&nbsp;&nbsp;&nbsp;24268 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;530404 |
| **Singapore - 1.0%** |  |  |
| AEM Holdings, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;9191 | &nbsp;&nbsp;&nbsp;&nbsp;10848 |
| ASMPT, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;6800 | &nbsp;&nbsp;&nbsp;&nbsp;50046 |
| Banyan Tree Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;19800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6618 |
| Boustead Singapore, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;10445 | &nbsp;&nbsp;&nbsp;&nbsp;11751 |
| Bukit Sembawang Estates, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;11000 | &nbsp;&nbsp;&nbsp;&nbsp;34775 |
| Capitaland India Trust | &nbsp;&nbsp;&nbsp;&nbsp;50467 | &nbsp;&nbsp;&nbsp;&nbsp;41673 |
| China Aviation Oil Singapore Corp., Ltd. (C) | &nbsp;&nbsp;&nbsp;&nbsp;14400 | &nbsp;&nbsp;&nbsp;&nbsp;10308 |
| ComfortDelGro Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;69000 | &nbsp;&nbsp;&nbsp;&nbsp;77608 |
| COSCO Shipping International Singapore Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;58900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5655 |
| CSE Global, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;37446 | &nbsp;&nbsp;&nbsp;&nbsp;16638 |
| Delfi, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;21900 | &nbsp;&nbsp;&nbsp;&nbsp;13008 |
| Ezion Holdings, Ltd. (A)(B) | &nbsp;&nbsp;131300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Far East Orchard, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;5140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4119 |
| First Resources, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;19300 | &nbsp;&nbsp;&nbsp;&nbsp;22302 |
| Fraser and Neave, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;8600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8526 |
| Gallant Venture, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;71000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5002 |
| Golden Agri-Resources, Ltd. | &nbsp;&nbsp;183600 | &nbsp;&nbsp;&nbsp;&nbsp;36139 |
| GuocoLand, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;10400 | &nbsp;&nbsp;&nbsp;&nbsp;12275 |
| Haw Par Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;4700 | &nbsp;&nbsp;&nbsp;&nbsp;44296 |
| Ho Bee Land, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;11400 | &nbsp;&nbsp;&nbsp;&nbsp;18210 |
| Hong Fok Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;20100 | &nbsp;&nbsp;&nbsp;&nbsp;11622 |
| Hong Leong Finance, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;12900 | &nbsp;&nbsp;&nbsp;&nbsp;26073 |
| Hyflux, Ltd. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;24000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| iFAST Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;3400 | &nbsp;&nbsp;&nbsp;&nbsp;17649 |
| IGG, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;38000 | &nbsp;&nbsp;&nbsp;&nbsp;21351 |
| Indofood Agri Resources, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6290 |
| Keppel Infrastructure Trust | &nbsp;&nbsp;112549 | &nbsp;&nbsp;&nbsp;&nbsp;35429 |
| Metro Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;31600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9817 |
| Midas Holdings, Ltd. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;86000 | &nbsp;&nbsp;&nbsp;&nbsp;11038 |
| Nanofilm Technologies International, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;6500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3299 |
| NetLink NBN Trust | &nbsp;&nbsp;&nbsp;&nbsp;91100 | &nbsp;&nbsp;&nbsp;&nbsp;63027 |
| Oceanus Group, Ltd. (A) | 1035500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4084 |
| OM Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;10791 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1990 |
| OUE, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;11100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9083 |
| Oxley Holdings, Ltd. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;27222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1948 |
| Raffles Medical Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;35758 | &nbsp;&nbsp;&nbsp;&nbsp;27990 |
| Riverstone Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;32900 | &nbsp;&nbsp;&nbsp;&nbsp;17332 |
| SBS Transit, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;10976 |
| Seatrium, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;9100 | &nbsp;&nbsp;&nbsp;&nbsp;14380 |
| Sheng Siong Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;29900 | &nbsp;&nbsp;&nbsp;&nbsp;44004 |
| SIA Engineering Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;12800 | &nbsp;&nbsp;&nbsp;&nbsp;31701 |
| SIIC Environment Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;35800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4403 |
| Singapore Land Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;7100 | &nbsp;&nbsp;&nbsp;&nbsp;12359 |
| Singapore Post, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;66100 | &nbsp;&nbsp;&nbsp;&nbsp;31684 |
| Stamford Land Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;69044 | &nbsp;&nbsp;&nbsp;&nbsp;23878 |
| StarHub, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;25600 | &nbsp;&nbsp;&nbsp;&nbsp;23353 |
| Straits Trading Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1784 |
| Swiber Holdings, Ltd. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| The Hour Glass, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;10100 | &nbsp;&nbsp;&nbsp;&nbsp;15250 |
| Thomson Medical Group, Ltd. (A) | &nbsp;&nbsp;212000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7169 |
| UMS Integration, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;22800 | &nbsp;&nbsp;&nbsp;&nbsp;23835 |
| UOB-Kay Hian Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;19316 | &nbsp;&nbsp;&nbsp;&nbsp;31759 |
| Venture Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;7100 | &nbsp;&nbsp;&nbsp;&nbsp;63715 |
| Wing Tai Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;21205 | &nbsp;&nbsp;&nbsp;&nbsp;21505 |
| Yeo Hiap Seng, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;1129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;510 |
|  |  | 1060084 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 66 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### International Small Company Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **South Africa - 0.1%** |  |  |
| Pan African Resources PLC | 130880 | $&nbsp;&nbsp;&nbsp;&nbsp;82363 |
| **Spain - 2.5%** |  |  |
| Acciona SA | &nbsp;&nbsp;&nbsp;&nbsp;540 | &nbsp;&nbsp;&nbsp;&nbsp;97397 |
| Acerinox SA | &nbsp;&nbsp;&nbsp;7076 | &nbsp;&nbsp;&nbsp;&nbsp;90343 |
| Aedas Homes SA (D) | &nbsp;&nbsp;&nbsp;&nbsp;426 | &nbsp;&nbsp;&nbsp;&nbsp;12195 |
| Almirall SA | &nbsp;&nbsp;&nbsp;2313 | &nbsp;&nbsp;&nbsp;&nbsp;29018 |
| Amper SA (A) | 111435 | &nbsp;&nbsp;&nbsp;&nbsp;21109 |
| Atresmedia Corp. de Medios de Comunicacion SA | &nbsp;&nbsp;&nbsp;4211 | &nbsp;&nbsp;&nbsp;&nbsp;25649 |
| Audax Renovables SA (A) | &nbsp;&nbsp;&nbsp;7306 | &nbsp;&nbsp;&nbsp;&nbsp;13201 |
| Banco de Sabadell SA | &nbsp;&nbsp;40454 | &nbsp;&nbsp;&nbsp;&nbsp;128788 |
| Bankinter SA | &nbsp;&nbsp;14801 | &nbsp;&nbsp;&nbsp;&nbsp;193220 |
| Caja de Ahorros del Mediterraneo (A)(B) | &nbsp;&nbsp;&nbsp;5428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| CIE Automotive SA | &nbsp;&nbsp;&nbsp;1829 | &nbsp;&nbsp;&nbsp;&nbsp;52674 |
| Construcciones y Auxiliar de Ferrocarriles SA | &nbsp;&nbsp;&nbsp;&nbsp;855 | &nbsp;&nbsp;&nbsp;&nbsp;47059 |
| Corp ACCIONA Energias Renovables SA | &nbsp;&nbsp;&nbsp;1077 | &nbsp;&nbsp;&nbsp;&nbsp;24925 |
| Distribuidora Internacional de Alimentacion SA (A) | &nbsp;&nbsp;&nbsp;&nbsp;392 | &nbsp;&nbsp;&nbsp;&nbsp;12376 |
| Ebro Foods SA | &nbsp;&nbsp;&nbsp;2006 | &nbsp;&nbsp;&nbsp;&nbsp;40871 |
| EDP Renovaveis SA | &nbsp;&nbsp;&nbsp;2640 | &nbsp;&nbsp;&nbsp;&nbsp;29541 |
| eDreams ODIGEO SA (A) | &nbsp;&nbsp;&nbsp;1615 | &nbsp;&nbsp;&nbsp;&nbsp;14792 |
| Elecnor SA | &nbsp;&nbsp;&nbsp;2026 | &nbsp;&nbsp;&nbsp;&nbsp;51743 |
| Enagas SA | &nbsp;&nbsp;&nbsp;9373 | &nbsp;&nbsp;&nbsp;&nbsp;157818 |
| Ence Energia y Celulosa SA (C) | &nbsp;&nbsp;&nbsp;6294 | &nbsp;&nbsp;&nbsp;&nbsp;21539 |
| Ercros SA | &nbsp;&nbsp;&nbsp;5006 | &nbsp;&nbsp;&nbsp;&nbsp;17518 |
| Faes Farma SA | &nbsp;&nbsp;13532 | &nbsp;&nbsp;&nbsp;&nbsp;72654 |
| Fluidra SA | &nbsp;&nbsp;&nbsp;2959 | &nbsp;&nbsp;&nbsp;&nbsp;74184 |
| Gestamp Automocion SA (D) | &nbsp;&nbsp;&nbsp;7287 | &nbsp;&nbsp;&nbsp;&nbsp;25170 |
| Global Dominion Access SA (D) | &nbsp;&nbsp;&nbsp;5439 | &nbsp;&nbsp;&nbsp;&nbsp;20097 |
| Grenergy Renovables SA (A) | &nbsp;&nbsp;&nbsp;&nbsp;573 | &nbsp;&nbsp;&nbsp;&nbsp;41598 |
| Grifols SA (A) | &nbsp;&nbsp;&nbsp;7462 | &nbsp;&nbsp;&nbsp;&nbsp;91051 |
| Grupo Catalana Occidente SA | &nbsp;&nbsp;&nbsp;1834 | &nbsp;&nbsp;&nbsp;&nbsp;106376 |
| Grupo Empresarial San Jose SA | &nbsp;&nbsp;&nbsp;2194 | &nbsp;&nbsp;&nbsp;&nbsp;15724 |
| Iberpapel Gestion SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1593 |
| Indra Sistemas SA (C) | &nbsp;&nbsp;&nbsp;2976 | &nbsp;&nbsp;&nbsp;&nbsp;129118 |
| Laboratorios Farmaceuticos Rovi SA | &nbsp;&nbsp;&nbsp;&nbsp;950 | &nbsp;&nbsp;&nbsp;&nbsp;61310 |
| Linea Directa Aseguradora SA Cia de Seguros y Reaseguros | &nbsp;&nbsp;27501 | &nbsp;&nbsp;&nbsp;&nbsp;43882 |
| Logista Integral SA | &nbsp;&nbsp;&nbsp;1957 | &nbsp;&nbsp;&nbsp;&nbsp;64121 |
| Mapfre SA | &nbsp;&nbsp;29551 | &nbsp;&nbsp;&nbsp;&nbsp;121047 |
| Melia Hotels International SA | &nbsp;&nbsp;&nbsp;4842 | &nbsp;&nbsp;&nbsp;&nbsp;40641 |
| Neinor Homes SA (A)(D) | &nbsp;&nbsp;&nbsp;1318 | &nbsp;&nbsp;&nbsp;&nbsp;25793 |
| Obrascon Huarte Lain SA (A) | &nbsp;&nbsp;27496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9767 |
| Pharma Mar SA (A) | &nbsp;&nbsp;&nbsp;&nbsp;409 | &nbsp;&nbsp;&nbsp;&nbsp;38413 |
| Promotora de Informaciones SA, Class A (A) | &nbsp;&nbsp;11711 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5037 |
| Prosegur Cash SA (D) | &nbsp;&nbsp;24667 | &nbsp;&nbsp;&nbsp;&nbsp;23721 |
| Realia Business SA | &nbsp;&nbsp;17710 | &nbsp;&nbsp;&nbsp;&nbsp;18491 |
| Redeia Corp. SA | &nbsp;&nbsp;&nbsp;4192 | &nbsp;&nbsp;&nbsp;&nbsp;89700 |
| Sacyr SA | &nbsp;&nbsp;13421 | &nbsp;&nbsp;&nbsp;&nbsp;54860 |
| Solaria Energia y Medio Ambiente SA (A) | &nbsp;&nbsp;&nbsp;2636 | &nbsp;&nbsp;&nbsp;&nbsp;30585 |
| Soltec Power Holdings SA (A)(B) | &nbsp;&nbsp;&nbsp;2101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2966 |
| Tecnicas Reunidas SA (A) | &nbsp;&nbsp;&nbsp;1625 | &nbsp;&nbsp;&nbsp;&nbsp;37528 |
| Tubacex SA | &nbsp;&nbsp;&nbsp;6252 | &nbsp;&nbsp;&nbsp;&nbsp;30967 |
| Unicaja Banco SA (D) | &nbsp;&nbsp;44382 | &nbsp;&nbsp;&nbsp;&nbsp;104827 |
| Vidrala SA | &nbsp;&nbsp;&nbsp;&nbsp;871 | &nbsp;&nbsp;&nbsp;&nbsp;101211 |
| Viscofan SA | &nbsp;&nbsp;&nbsp;1503 | &nbsp;&nbsp;&nbsp;&nbsp;106913 |
| Viscofan SA, Interim Shares (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2845 |
|  |  | 2673966 |
| **Sweden - 2.8%** |  |  |
| AcadeMedia AB (D) | &nbsp;&nbsp;&nbsp;3665 | &nbsp;&nbsp;&nbsp;&nbsp;32333 |
| AddLife AB, B Shares | &nbsp;&nbsp;&nbsp;2462 | &nbsp;&nbsp;&nbsp;&nbsp;49137 |
| AddNode Group AB | &nbsp;&nbsp;&nbsp;5860 | &nbsp;&nbsp;&nbsp;&nbsp;68826 |
| AFRY AB | &nbsp;&nbsp;&nbsp;3857 | &nbsp;&nbsp;&nbsp;&nbsp;64566 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Sweden (continued)** |  |  |
| Alimak Group AB (D) | &nbsp;&nbsp;3056 | $47003 |
| Alleima AB | &nbsp;&nbsp;7527 | 59466 |
| Alligo AB, Class B | &nbsp;&nbsp;2270 | 26392 |
| Ambea AB (D) | &nbsp;&nbsp;3505 | 41809 |
| Annehem Fastigheter AB, B Shares (A) | &nbsp;&nbsp;1732 | &nbsp;&nbsp;&nbsp;2989 |
| AQ Group AB | &nbsp;&nbsp;2525 | 48190 |
| Arjo AB, B Shares | 10690 | 38352 |
| Attendo AB (D) | &nbsp;&nbsp;5286 | 35508 |
| Balco Group AB (A) | &nbsp;&nbsp;&nbsp;&nbsp;665 | &nbsp;&nbsp;&nbsp;1875 |
| Beijer Alma AB | &nbsp;&nbsp;1857 | 44692 |
| Bergman & Beving AB | &nbsp;&nbsp;&nbsp;&nbsp;902 | 27870 |
| Betsson AB, B Shares (A) | &nbsp;&nbsp;2862 | 60597 |
| BHG Group AB (A) | &nbsp;&nbsp;2406 | &nbsp;&nbsp;&nbsp;5929 |
| Bilia AB, A Shares | &nbsp;&nbsp;2411 | 32498 |
| Billerud AB | &nbsp;&nbsp;3292 | 34108 |
| BioInvent International AB (A) | &nbsp;&nbsp;2250 | &nbsp;&nbsp;&nbsp;8209 |
| Bonava AB, B Shares (A) | &nbsp;&nbsp;9969 | 13524 |
| Bravida Holding AB (D) | &nbsp;&nbsp;1969 | 19841 |
| BTS Group AB, B Shares | &nbsp;&nbsp;&nbsp;&nbsp;346 | &nbsp;&nbsp;&nbsp;8426 |
| Bufab AB | &nbsp;&nbsp;4360 | 40483 |
| Bulten AB | &nbsp;&nbsp;&nbsp;&nbsp;717 | &nbsp;&nbsp;&nbsp;4620 |
| Bure Equity AB | &nbsp;&nbsp;1400 | 42239 |
| Byggmax Group AB | &nbsp;&nbsp;5363 | 28876 |
| Catella AB | &nbsp;&nbsp;2217 | &nbsp;&nbsp;&nbsp;6932 |
| Cellavision AB | &nbsp;&nbsp;&nbsp;&nbsp;999 | 19229 |
| Cibus Nordic Real Estate AB | &nbsp;&nbsp;1681 | 33188 |
| Cint Group AB (A) | 13640 | 11313 |
| Clas Ohlson AB, B Shares | &nbsp;&nbsp;1557 | 53266 |
| Cloetta AB, B Shares | 10640 | 38313 |
| Coor Service Management Holding AB (D) | &nbsp;&nbsp;5027 | 21993 |
| Corem Property Group AB, B Shares | 14214 | &nbsp;&nbsp;&nbsp;7815 |
| Corem Property Group AB, D Shares | &nbsp;&nbsp;&nbsp;&nbsp;408 | 10302 |
| CTT Systems AB | &nbsp;&nbsp;&nbsp;&nbsp;566 | 13010 |
| Dios Fastigheter AB | &nbsp;&nbsp;5109 | 37430 |
| Dometic Group AB (D) | &nbsp;&nbsp;3643 | 15276 |
| Dustin Group AB (A)(D) | 59748 | 14996 |
| Dynavox Group AB (A) | &nbsp;&nbsp;1783 | 21095 |
| Elanders AB, B Shares | &nbsp;&nbsp;1468 | &nbsp;&nbsp;&nbsp;9025 |
| Electrolux Professional AB, B Shares | &nbsp;&nbsp;9620 | 68217 |
| Elekta AB, B Shares | &nbsp;&nbsp;7054 | 36389 |
| Enea AB (A) | &nbsp;&nbsp;1522 | 11225 |
| Fagerhult Group AB | &nbsp;&nbsp;2581 | 11512 |
| Fastighets AB Trianon (A) | &nbsp;&nbsp;1452 | &nbsp;&nbsp;&nbsp;2924 |
| Fastighetsbolaget Emilshus AB, B Shares (A) | &nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp;1154 |
| FastPartner AB, A Shares | &nbsp;&nbsp;2697 | 16514 |
| Ferronordic AB (A) | &nbsp;&nbsp;&nbsp;&nbsp;318 | &nbsp;&nbsp;&nbsp;1695 |
| G5 Entertainment AB | &nbsp;&nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp;&nbsp;3806 |
| Granges AB | &nbsp;&nbsp;4281 | 54959 |
| Green Landscaping Group AB (A)(D) | &nbsp;&nbsp;1593 | 10808 |
| Heba Fastighets AB, Class B | &nbsp;&nbsp;4570 | 15279 |
| Hexatronic Group AB (A) | &nbsp;&nbsp;6047 | 15918 |
| HMS Networks AB (A) | &nbsp;&nbsp;&nbsp;&nbsp;323 | 14142 |
| Hoist Finance AB (D) | &nbsp;&nbsp;3383 | 29832 |
| Hufvudstaden AB, A Shares | &nbsp;&nbsp;1892 | 24730 |
| Humana AB | &nbsp;&nbsp;2641 | 10351 |
| Instalco AB | &nbsp;&nbsp;7730 | 19939 |
| Inwido AB | &nbsp;&nbsp;1534 | 34161 |
| JM AB | &nbsp;&nbsp;2484 | 39885 |
| Karnov Group AB (A) | &nbsp;&nbsp;1497 | 17031 |
| K-fast Holding AB (A) | &nbsp;&nbsp;1142 | &nbsp;&nbsp;&nbsp;1734 |
| KNOW IT AB | &nbsp;&nbsp;1459 | 19761 |
| Lime Technologies AB | &nbsp;&nbsp;&nbsp;&nbsp;558 | 24465 |
| Lindab International AB | &nbsp;&nbsp;2753 | 57168 |
| Medcap AB (A) | &nbsp;&nbsp;&nbsp;&nbsp;576 | 27275 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 67 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### International Small Company Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Sweden (continued)** |  |  |
| MEKO AB | &nbsp;&nbsp;2150 | $&nbsp;&nbsp;&nbsp;&nbsp;24496 |
| MIPS AB | &nbsp;&nbsp;&nbsp;&nbsp;434 | &nbsp;&nbsp;&nbsp;&nbsp;20337 |
| Modern Times Group MTG AB, B Shares (A) | &nbsp;&nbsp;2851 | &nbsp;&nbsp;&nbsp;&nbsp;36132 |
| Momentum Group AB | &nbsp;&nbsp;1535 | &nbsp;&nbsp;&nbsp;&nbsp;26194 |
| NCC AB, B Shares | &nbsp;&nbsp;3723 | &nbsp;&nbsp;&nbsp;&nbsp;69668 |
| Nederman Holding AB | &nbsp;&nbsp;&nbsp;&nbsp;887 | &nbsp;&nbsp;&nbsp;&nbsp;16543 |
| Net Insight AB, B Shares (A) | 16550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7070 |
| New Wave Group AB, B Shares | &nbsp;&nbsp;3382 | &nbsp;&nbsp;&nbsp;&nbsp;44419 |
| Nobia AB (A) | 26704 | &nbsp;&nbsp;&nbsp;&nbsp;12147 |
| Nolato AB, B Shares | &nbsp;&nbsp;6748 | &nbsp;&nbsp;&nbsp;&nbsp;41346 |
| Note AB | &nbsp;&nbsp;&nbsp;&nbsp;776 | &nbsp;&nbsp;&nbsp;&nbsp;14740 |
| NP3 Fastigheter AB | &nbsp;&nbsp;1226 | &nbsp;&nbsp;&nbsp;&nbsp;35072 |
| Nyfosa AB (A) | &nbsp;&nbsp;6996 | &nbsp;&nbsp;&nbsp;&nbsp;69873 |
| OEM International AB, B Shares | &nbsp;&nbsp;2670 | &nbsp;&nbsp;&nbsp;&nbsp;39430 |
| Orron Energy AB (A) | &nbsp;&nbsp;7422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3677 |
| Peab AB, Class B | &nbsp;&nbsp;4540 | &nbsp;&nbsp;&nbsp;&nbsp;37170 |
| Platzer Fastigheter Holding AB, Series B | &nbsp;&nbsp;3454 | &nbsp;&nbsp;&nbsp;&nbsp;29195 |
| Pricer AB, B Shares (A) | 11102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6022 |
| Proact IT Group AB | &nbsp;&nbsp;1428 | &nbsp;&nbsp;&nbsp;&nbsp;15828 |
| Ratos AB, B Shares | &nbsp;&nbsp;8255 | &nbsp;&nbsp;&nbsp;&nbsp;35036 |
| RaySearch Laboratories AB | &nbsp;&nbsp;2452 | &nbsp;&nbsp;&nbsp;&nbsp;86947 |
| Scandi Standard AB | &nbsp;&nbsp;3152 | &nbsp;&nbsp;&nbsp;&nbsp;32250 |
| Scandic Hotels Group AB (D) | &nbsp;&nbsp;6887 | &nbsp;&nbsp;&nbsp;&nbsp;60060 |
| Sdiptech AB, Class B (A) | &nbsp;&nbsp;&nbsp;&nbsp;738 | &nbsp;&nbsp;&nbsp;&nbsp;16639 |
| Sensys Gatso Group AB (A) | &nbsp;&nbsp;&nbsp;&nbsp;293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1305 |
| Sinch AB (A)(D) | 20622 | &nbsp;&nbsp;&nbsp;&nbsp;59888 |
| SkiStar AB | &nbsp;&nbsp;2041 | &nbsp;&nbsp;&nbsp;&nbsp;33427 |
| Solid Forsakring AB | &nbsp;&nbsp;&nbsp;&nbsp;623 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5264 |
| Stendorren Fastigheter AB (A) | &nbsp;&nbsp;1288 | &nbsp;&nbsp;&nbsp;&nbsp;26750 |
| Stillfront Group AB (A) | 19809 | &nbsp;&nbsp;&nbsp;&nbsp;14269 |
| Storskogen Group AB, Class B | 39199 | &nbsp;&nbsp;&nbsp;&nbsp;47019 |
| Synsam AB | &nbsp;&nbsp;3085 | &nbsp;&nbsp;&nbsp;&nbsp;17461 |
| Systemair AB | &nbsp;&nbsp;3796 | &nbsp;&nbsp;&nbsp;&nbsp;35218 |
| Truecaller AB, Class B | &nbsp;&nbsp;9962 | &nbsp;&nbsp;&nbsp;&nbsp;70620 |
| VBG Group AB, B Shares | &nbsp;&nbsp;1018 | &nbsp;&nbsp;&nbsp;&nbsp;27981 |
| Viaplay Group AB (A) | 12648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;968 |
| Vitec Software Group AB, B Shares | &nbsp;&nbsp;1147 | &nbsp;&nbsp;&nbsp;&nbsp;57996 |
| Vitrolife AB | &nbsp;&nbsp;&nbsp;&nbsp;979 | &nbsp;&nbsp;&nbsp;&nbsp;14516 |
| Volati AB | &nbsp;&nbsp;&nbsp;&nbsp;786 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9886 |
| XANO Industri AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;694 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4602 |
|  |  | 2979876 |
| **Switzerland - 8.0%** |  |  |
| Accelleron Industries AG | &nbsp;&nbsp;4040 | &nbsp;&nbsp;&nbsp;&nbsp;284694 |
| Adecco Group AG | &nbsp;&nbsp;6476 | &nbsp;&nbsp;&nbsp;&nbsp;192971 |
| Allreal Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;643 | &nbsp;&nbsp;&nbsp;&nbsp;151029 |
| ALSO Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;260 | &nbsp;&nbsp;&nbsp;&nbsp;88180 |
| APG SGA SA | &nbsp;&nbsp;&nbsp;&nbsp;84 | &nbsp;&nbsp;&nbsp;&nbsp;25109 |
| Arbonia AG | &nbsp;&nbsp;2962 | &nbsp;&nbsp;&nbsp;&nbsp;19853 |
| Aryzta AG (A) | &nbsp;&nbsp;&nbsp;&nbsp;949 | &nbsp;&nbsp;&nbsp;&nbsp;96910 |
| Ascom Holding AG | &nbsp;&nbsp;1310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5962 |
| Autoneum Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp;&nbsp;22758 |
| Avolta AG (A) | &nbsp;&nbsp;2343 | &nbsp;&nbsp;&nbsp;&nbsp;127626 |
| Baloise Holding AG | &nbsp;&nbsp;1306 | &nbsp;&nbsp;&nbsp;&nbsp;308023 |
| Banque Cantonale de Geneve, Bearer Shares | &nbsp;&nbsp;&nbsp;&nbsp;142 | &nbsp;&nbsp;&nbsp;&nbsp;42416 |
| Banque Cantonale Vaudoise | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;57666 |
| Barry Callebaut AG (C) | &nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp;&nbsp;&nbsp;38257 |
| Belimo Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp;&nbsp;&nbsp;382238 |
| Bell Food Group AG | &nbsp;&nbsp;&nbsp;&nbsp;138 | &nbsp;&nbsp;&nbsp;&nbsp;43453 |
| Bellevue Group AG | &nbsp;&nbsp;&nbsp;&nbsp;467 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4490 |
| Berner Kantonalbank AG | &nbsp;&nbsp;&nbsp;&nbsp;246 | &nbsp;&nbsp;&nbsp;&nbsp;77906 |
| BKW AG | &nbsp;&nbsp;&nbsp;&nbsp;494 | &nbsp;&nbsp;&nbsp;&nbsp;108309 |
| Bossard Holding AG, Class A | &nbsp;&nbsp;&nbsp;&nbsp;248 | &nbsp;&nbsp;&nbsp;&nbsp;54689 |
| Bucher Industries AG | &nbsp;&nbsp;&nbsp;&nbsp;282 | &nbsp;&nbsp;&nbsp;&nbsp;140162 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Switzerland (continued)** |  |  |
| Burckhardt Compression Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;146 | $121386 |
| Bystronic AG | &nbsp;&nbsp;&nbsp;&nbsp;74 | &nbsp;&nbsp;&nbsp;35947 |
| Calida Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;19 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;367 |
| Carlo Gavazzi Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;38 | &nbsp;&nbsp;&nbsp;&nbsp;9771 |
| Cembra Money Bank AG | &nbsp;&nbsp;1219 | 153343 |
| Cham Swiss Properties AG | &nbsp;&nbsp;&nbsp;&nbsp;199 | &nbsp;&nbsp;&nbsp;&nbsp;5667 |
| Cie Financiere Tradition SA, Bearer Shares | &nbsp;&nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp;&nbsp;28865 |
| Clariant AG (A) | &nbsp;&nbsp;8951 | &nbsp;&nbsp;&nbsp;95348 |
| Coltene Holding AG (A) | &nbsp;&nbsp;&nbsp;&nbsp;198 | &nbsp;&nbsp;&nbsp;16893 |
| Daetwyler Holding AG, Bearer Shares | &nbsp;&nbsp;&nbsp;&nbsp;281 | &nbsp;&nbsp;&nbsp;42623 |
| DKSH Holding AG | &nbsp;&nbsp;1242 | &nbsp;&nbsp;&nbsp;96607 |
| DocMorris AG (A) | &nbsp;&nbsp;2460 | &nbsp;&nbsp;&nbsp;19831 |
| dormakaba Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;151 | 138076 |
| EFG International AG (A) | &nbsp;&nbsp;3750 | &nbsp;&nbsp;&nbsp;69501 |
| Emmi AG | &nbsp;&nbsp;&nbsp;&nbsp;86 | &nbsp;&nbsp;&nbsp;86007 |
| Feintool International Holding AG (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;426 | &nbsp;&nbsp;&nbsp;&nbsp;6380 |
| Fenix Outdoor International AG | &nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;12422 |
| Flughafen Zurich AG | &nbsp;&nbsp;&nbsp;&nbsp;824 | 234942 |
| Forbo Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;39 | &nbsp;&nbsp;&nbsp;40565 |
| Fundamenta Real Estate AG (A) | &nbsp;&nbsp;1563 | &nbsp;&nbsp;&nbsp;35881 |
| Galenica AG (D) | &nbsp;&nbsp;2209 | 241738 |
| GAM Holding AG (A) | &nbsp;&nbsp;5497 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;702 |
| Georg Fischer AG | &nbsp;&nbsp;2947 | 241196 |
| Gurit Holding AG, Bearer Shares (A) | &nbsp;&nbsp;&nbsp;&nbsp;220 | &nbsp;&nbsp;&nbsp;&nbsp;4810 |
| Helvetia Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;867 | 203551 |
| Hiag Immobilien Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;237 | &nbsp;&nbsp;&nbsp;33060 |
| Huber + Suhner AG | &nbsp;&nbsp;&nbsp;&nbsp;515 | &nbsp;&nbsp;&nbsp;57651 |
| Hypothekarbank Lenzburg AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;15365 |
| Implenia AG | &nbsp;&nbsp;&nbsp;&nbsp;453 | &nbsp;&nbsp;&nbsp;31743 |
| Inficon Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;674 | &nbsp;&nbsp;&nbsp;90523 |
| International Workplace Group PLC | 36159 | 103690 |
| Interroll Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp;&nbsp;74868 |
| Intershop Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp;&nbsp;48358 |
| Investis Holding SA | &nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp;25578 |
| Jungfraubahn Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;213 | &nbsp;&nbsp;&nbsp;54258 |
| Kardex Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;232 | &nbsp;&nbsp;&nbsp;80692 |
| Komax Holding AG (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;228 | &nbsp;&nbsp;&nbsp;27855 |
| Kongsberg Automotive ASA (A) | 23611 | &nbsp;&nbsp;&nbsp;&nbsp;3918 |
| Kudelski SA, Bearer Shares (A) | &nbsp;&nbsp;2497 | &nbsp;&nbsp;&nbsp;&nbsp;4297 |
| Landis+Gyr Group AG (A) | &nbsp;&nbsp;1125 | &nbsp;&nbsp;&nbsp;79289 |
| LEM Holding SA | &nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;26311 |
| Luzerner Kantonalbank AG | &nbsp;&nbsp;&nbsp;&nbsp;728 | &nbsp;&nbsp;&nbsp;65625 |
| Medacta Group SA (D) | &nbsp;&nbsp;&nbsp;&nbsp;308 | &nbsp;&nbsp;&nbsp;52289 |
| medmix AG (D) | &nbsp;&nbsp;&nbsp;&nbsp;877 | &nbsp;&nbsp;&nbsp;13416 |
| Metall Zug AG, B Shares | &nbsp;&nbsp;&nbsp;&nbsp;12 | &nbsp;&nbsp;&nbsp;15900 |
| Mobilezone Holding AG | &nbsp;&nbsp;2336 | &nbsp;&nbsp;&nbsp;33815 |
| Mobimo Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;295 | 120785 |
| Naturenergie Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;979 | &nbsp;&nbsp;&nbsp;35235 |
| Novavest Real Estate AG (A) | &nbsp;&nbsp;&nbsp;&nbsp;469 | &nbsp;&nbsp;&nbsp;22696 |
| OC Oerlikon Corp. AG | &nbsp;&nbsp;8368 | &nbsp;&nbsp;&nbsp;38986 |
| Peach Property Group AG (A) | &nbsp;&nbsp;&nbsp;&nbsp;424 | &nbsp;&nbsp;&nbsp;&nbsp;3824 |
| Phoenix Mecano AG | &nbsp;&nbsp;&nbsp;&nbsp;38 | &nbsp;&nbsp;&nbsp;21080 |
| Plazza AG, Class A | &nbsp;&nbsp;&nbsp;&nbsp;68 | &nbsp;&nbsp;&nbsp;34033 |
| PSP Swiss Property AG | &nbsp;&nbsp;1955 | 360921 |
| Rieter Holding AG (C) | &nbsp;&nbsp;&nbsp;&nbsp;178 | &nbsp;&nbsp;&nbsp;15260 |
| Romande Energie Holding SA | &nbsp;&nbsp;&nbsp;&nbsp;850 | &nbsp;&nbsp;&nbsp;45199 |
| Schweiter Technologies AG | &nbsp;&nbsp;&nbsp;&nbsp;58 | &nbsp;&nbsp;&nbsp;27651 |
| SFS Group AG | &nbsp;&nbsp;&nbsp;&nbsp;818 | 112416 |
| Siegfried Holding AG (A) | &nbsp;&nbsp;1840 | 207310 |
| SIG Group AG (A) | &nbsp;&nbsp;7187 | 132938 |
| SKAN Group AG | &nbsp;&nbsp;&nbsp;&nbsp;427 | &nbsp;&nbsp;&nbsp;38487 |
| Softwareone Holding AG | &nbsp;&nbsp;2860 | &nbsp;&nbsp;&nbsp;28556 |
| St. Galler Kantonalbank AG | &nbsp;&nbsp;&nbsp;&nbsp;106 | &nbsp;&nbsp;&nbsp;64400 |
| Stadler Rail AG | &nbsp;&nbsp;1523 | &nbsp;&nbsp;&nbsp;37612 |
| Sulzer AG | &nbsp;&nbsp;&nbsp;&nbsp;869 | 157040 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 68 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### International Small Company Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Switzerland (continued)** |  |  |
| Swiss Prime Site AG | &nbsp;&nbsp;3437 | $&nbsp;&nbsp;&nbsp;&nbsp;515976 |
| Swissquote Group Holding SA | &nbsp;&nbsp;&nbsp;&nbsp;445 | &nbsp;&nbsp;&nbsp;&nbsp;252911 |
| Tecan Group AG | &nbsp;&nbsp;&nbsp;&nbsp;97 | &nbsp;&nbsp;&nbsp;&nbsp;19851 |
| Temenos AG | &nbsp;&nbsp;2365 | &nbsp;&nbsp;&nbsp;&nbsp;169890 |
| The Swatch Group AG | &nbsp;&nbsp;&nbsp;&nbsp;311 | &nbsp;&nbsp;&nbsp;&nbsp;10478 |
| TX Group AG | &nbsp;&nbsp;&nbsp;&nbsp;146 | &nbsp;&nbsp;&nbsp;&nbsp;38242 |
| u-blox Holding AG (A) | &nbsp;&nbsp;&nbsp;&nbsp;234 | &nbsp;&nbsp;&nbsp;&nbsp;29399 |
| Valiant Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;616 | &nbsp;&nbsp;&nbsp;&nbsp;93821 |
| Vaudoise Assurances Holding SA | &nbsp;&nbsp;&nbsp;&nbsp;19 | &nbsp;&nbsp;&nbsp;&nbsp;14627 |
| Vetropack Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;822 | &nbsp;&nbsp;&nbsp;&nbsp;33135 |
| Vontobel Holding AG | &nbsp;&nbsp;1192 | &nbsp;&nbsp;&nbsp;&nbsp;96341 |
| VZ Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;568 | &nbsp;&nbsp;&nbsp;&nbsp;124480 |
| V-ZUG Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9824 |
| Walliser Kantonalbank | &nbsp;&nbsp;&nbsp;&nbsp;203 | &nbsp;&nbsp;&nbsp;&nbsp;31184 |
| Warteck Invest AG | &nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp;25468 |
| Ypsomed Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;166 | &nbsp;&nbsp;&nbsp;&nbsp;88620 |
| Zehnder Group AG | &nbsp;&nbsp;&nbsp;&nbsp;409 | &nbsp;&nbsp;&nbsp;&nbsp;34666 |
| Zug Estates Holding AG, B Shares | &nbsp;&nbsp;&nbsp;&nbsp;16 | &nbsp;&nbsp;&nbsp;&nbsp;43776 |
| Zuger Kantonalbank AG, Bearer Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp;&nbsp;&nbsp;97885 |
|  |  | 8388624 |
| **Taiwan - 0.0%** |  |  |
| FIT Hon Teng, Ltd. (A)(D) | 49000 | &nbsp;&nbsp;&nbsp;&nbsp;14750 |
| **United Arab Emirates - 0.0%** |  |  |
| Shelf Drilling, Ltd. (A)(D) | 10196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9048 |
| **United Kingdom - 11.3%** |  |  |
| 4imprint Group PLC | &nbsp;&nbsp;1359 | &nbsp;&nbsp;&nbsp;&nbsp;68219 |
| A.G. Barr PLC | &nbsp;&nbsp;4718 | &nbsp;&nbsp;&nbsp;&nbsp;44589 |
| Aberdeen Group PLC | 43907 | &nbsp;&nbsp;&nbsp;&nbsp;113050 |
| Accesso Technology Group PLC (A) | &nbsp;&nbsp;2349 | &nbsp;&nbsp;&nbsp;&nbsp;16899 |
| Advanced Medical Solutions Group PLC | &nbsp;&nbsp;6389 | &nbsp;&nbsp;&nbsp;&nbsp;19022 |
| AJ Bell PLC | 13681 | &nbsp;&nbsp;&nbsp;&nbsp;96383 |
| Alfa Financial Software Holdings PLC (D) | &nbsp;&nbsp;4048 | &nbsp;&nbsp;&nbsp;&nbsp;12492 |
| Anglo-Eastern Plantations PLC | &nbsp;&nbsp;1225 | &nbsp;&nbsp;&nbsp;&nbsp;14821 |
| AO World PLC (A) | 10559 | &nbsp;&nbsp;&nbsp;&nbsp;14068 |
| Ashmore Group PLC | 22693 | &nbsp;&nbsp;&nbsp;&nbsp;48775 |
| Ashtead Technology Holdings PLC | &nbsp;&nbsp;2347 | &nbsp;&nbsp;&nbsp;&nbsp;14286 |
| Aston Martin Lagonda Global Holdings PLC (A)(C)(D) | &nbsp;&nbsp;4390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4809 |
| Auction Technology Group PLC (A) | &nbsp;&nbsp;1706 | &nbsp;&nbsp;&nbsp;&nbsp;10672 |
| B&M European Value Retail SA | &nbsp;&nbsp;7989 | &nbsp;&nbsp;&nbsp;&nbsp;29754 |
| Babcock International Group PLC | 11175 | &nbsp;&nbsp;&nbsp;&nbsp;176005 |
| Bakkavor Group PLC (D) | &nbsp;&nbsp;5579 | &nbsp;&nbsp;&nbsp;&nbsp;16559 |
| Balfour Beatty PLC | 19931 | &nbsp;&nbsp;&nbsp;&nbsp;143000 |
| Beazley PLC | &nbsp;&nbsp;1778 | &nbsp;&nbsp;&nbsp;&nbsp;22829 |
| Begbies Traynor Group PLC | &nbsp;&nbsp;6626 | &nbsp;&nbsp;&nbsp;&nbsp;10065 |
| Bellway PLC | &nbsp;&nbsp;5245 | &nbsp;&nbsp;&nbsp;&nbsp;207780 |
| Bloomsbury Publishing PLC | &nbsp;&nbsp;4265 | &nbsp;&nbsp;&nbsp;&nbsp;29959 |
| Bodycote PLC | &nbsp;&nbsp;7984 | &nbsp;&nbsp;&nbsp;&nbsp;64115 |
| Boohoo Group PLC (A)(C) | &nbsp;&nbsp;3748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1054 |
| BRAEMAR PLC | &nbsp;&nbsp;1328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3830 |
| Breedon Group PLC | &nbsp;&nbsp;8626 | &nbsp;&nbsp;&nbsp;&nbsp;45767 |
| Bridgepoint Group PLC (D) | &nbsp;&nbsp;9683 | &nbsp;&nbsp;&nbsp;&nbsp;41358 |
| Brooks Macdonald Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;427 | &nbsp;&nbsp;&nbsp;&nbsp;10017 |
| Burberry Group PLC (A) | 11554 | &nbsp;&nbsp;&nbsp;&nbsp;187673 |
| Bytes Technology Group PLC | &nbsp;&nbsp;9584 | &nbsp;&nbsp;&nbsp;&nbsp;67318 |
| Capita PLC (A) | &nbsp;&nbsp;6128 | &nbsp;&nbsp;&nbsp;&nbsp;28080 |
| Capricorn Energy PLC (A) | &nbsp;&nbsp;5938 | &nbsp;&nbsp;&nbsp;&nbsp;18715 |
| Card Factory PLC | 14688 | &nbsp;&nbsp;&nbsp;&nbsp;18334 |
| Carillion PLC (A)(B) | 35521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4676 |
| Carr's Group PLC | &nbsp;&nbsp;2599 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5277 |
| Central Asia Metals PLC | &nbsp;&nbsp;8189 | &nbsp;&nbsp;&nbsp;&nbsp;17929 |
| Chemring Group PLC | 13921 | &nbsp;&nbsp;&nbsp;&nbsp;108026 |
| Chesnara PLC | &nbsp;&nbsp;7709 | &nbsp;&nbsp;&nbsp;&nbsp;31633 |
| City of London Investment Group PLC | &nbsp;&nbsp;2068 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9841 |
| Clarkson PLC | &nbsp;&nbsp;1348 | &nbsp;&nbsp;&nbsp;&nbsp;60419 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **United Kingdom (continued)** |  |  |
| Close Brothers Group PLC (A) | &nbsp;&nbsp;&nbsp;7281 | $&nbsp;&nbsp;&nbsp;36940 |
| CMC Markets PLC (D) | &nbsp;&nbsp;&nbsp;7009 | &nbsp;&nbsp;&nbsp;24263 |
| Coats Group PLC | &nbsp;&nbsp;71598 | &nbsp;&nbsp;&nbsp;78156 |
| Cohort PLC | &nbsp;&nbsp;&nbsp;1758 | &nbsp;&nbsp;&nbsp;37434 |
| Computacenter PLC | &nbsp;&nbsp;&nbsp;2915 | &nbsp;&nbsp;&nbsp;96077 |
| Costain Group PLC | &nbsp;&nbsp;16911 | &nbsp;&nbsp;&nbsp;34389 |
| Cranswick PLC | &nbsp;&nbsp;&nbsp;2228 | 163652 |
| Crest Nicholson Holdings PLC | &nbsp;&nbsp;13693 | &nbsp;&nbsp;&nbsp;35119 |
| Croda International PLC | &nbsp;&nbsp;&nbsp;3061 | 122893 |
| Currys PLC (A) | &nbsp;&nbsp;46489 | &nbsp;&nbsp;&nbsp;77709 |
| CVS Group PLC | &nbsp;&nbsp;&nbsp;1520 | &nbsp;&nbsp;&nbsp;26095 |
| De La Rue PLC (A) | &nbsp;&nbsp;&nbsp;9176 | &nbsp;&nbsp;&nbsp;16326 |
| DFS Furniture PLC (A) | &nbsp;&nbsp;12509 | &nbsp;&nbsp;&nbsp;28797 |
| Dialight PLC (A) | &nbsp;&nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;267 |
| Direct Line Insurance Group PLC | &nbsp;&nbsp;32903 | 138755 |
| DiscoverIE Group PLC | &nbsp;&nbsp;&nbsp;4507 | &nbsp;&nbsp;&nbsp;40381 |
| Domino's Pizza Group PLC | &nbsp;&nbsp;16081 | &nbsp;&nbsp;&nbsp;56861 |
| dotdigital Group PLC | &nbsp;&nbsp;12814 | &nbsp;&nbsp;&nbsp;13245 |
| Dr. Martens PLC | &nbsp;&nbsp;12054 | &nbsp;&nbsp;&nbsp;12422 |
| Drax Group PLC | &nbsp;&nbsp;14589 | 139045 |
| Dunelm Group PLC | &nbsp;&nbsp;&nbsp;5320 | &nbsp;&nbsp;&nbsp;86694 |
| easyJet PLC | &nbsp;&nbsp;&nbsp;4377 | &nbsp;&nbsp;&nbsp;32032 |
| ECORA RESOURCES PLC | &nbsp;&nbsp;12147 | &nbsp;&nbsp;&nbsp;10460 |
| EKF Diagnostics Holdings PLC (A) | &nbsp;&nbsp;&nbsp;8242 | &nbsp;&nbsp;&nbsp;&nbsp;3035 |
| Elementis PLC | &nbsp;&nbsp;27226 | &nbsp;&nbsp;&nbsp;59848 |
| Endeavour Mining PLC | &nbsp;&nbsp;&nbsp;6403 | 197439 |
| Energean PLC | &nbsp;&nbsp;&nbsp;5147 | &nbsp;&nbsp;&nbsp;64388 |
| EnQuest PLC | 115537 | &nbsp;&nbsp;&nbsp;20093 |
| Entain PLC | &nbsp;&nbsp;&nbsp;5472 | &nbsp;&nbsp;&nbsp;67774 |
| Essentra PLC | &nbsp;&nbsp;14966 | &nbsp;&nbsp;&nbsp;21964 |
| FDM Group Holdings PLC | &nbsp;&nbsp;&nbsp;4489 | &nbsp;&nbsp;&nbsp;13152 |
| Firstgroup PLC | &nbsp;&nbsp;26489 | &nbsp;&nbsp;&nbsp;83873 |
| Foresight Group Holdings, Ltd. | &nbsp;&nbsp;&nbsp;2196 | &nbsp;&nbsp;&nbsp;13394 |
| Forterra PLC (D) | &nbsp;&nbsp;10957 | &nbsp;&nbsp;&nbsp;29659 |
| Foxtons Group PLC | &nbsp;&nbsp;23551 | &nbsp;&nbsp;&nbsp;21902 |
| Frasers Group PLC (A) | &nbsp;&nbsp;&nbsp;3540 | &nbsp;&nbsp;&nbsp;33068 |
| Frontier Developments PLC (A) | &nbsp;&nbsp;&nbsp;1107 | &nbsp;&nbsp;&nbsp;&nbsp;4732 |
| Fuller Smith & Turner PLC, Class A | &nbsp;&nbsp;&nbsp;1525 | &nbsp;&nbsp;&nbsp;12514 |
| Funding Circle Holdings PLC (A)(D) | &nbsp;&nbsp;&nbsp;3849 | &nbsp;&nbsp;&nbsp;&nbsp;6784 |
| Future PLC | &nbsp;&nbsp;&nbsp;3711 | &nbsp;&nbsp;&nbsp;37252 |
| Galliford Try Holdings PLC | &nbsp;&nbsp;&nbsp;5675 | &nbsp;&nbsp;&nbsp;32705 |
| Games Workshop Group PLC | &nbsp;&nbsp;&nbsp;1025 | 228147 |
| Gamma Communications PLC | &nbsp;&nbsp;&nbsp;3729 | &nbsp;&nbsp;&nbsp;58257 |
| GB Group PLC | &nbsp;&nbsp;&nbsp;7074 | &nbsp;&nbsp;&nbsp;23014 |
| Genel Energy PLC (A) | &nbsp;&nbsp;&nbsp;4784 | &nbsp;&nbsp;&nbsp;&nbsp;3949 |
| Genuit Group PLC | &nbsp;&nbsp;12035 | &nbsp;&nbsp;&nbsp;65087 |
| Genus PLC | &nbsp;&nbsp;&nbsp;&nbsp;212 | &nbsp;&nbsp;&nbsp;&nbsp;5953 |
| Gooch & Housego PLC | &nbsp;&nbsp;&nbsp;1681 | &nbsp;&nbsp;&nbsp;14786 |
| Grainger PLC | &nbsp;&nbsp;32286 | &nbsp;&nbsp;&nbsp;98151 |
| Greggs PLC | &nbsp;&nbsp;&nbsp;1563 | &nbsp;&nbsp;&nbsp;41215 |
| Gulf Keystone Petroleum, Ltd. | &nbsp;&nbsp;11237 | &nbsp;&nbsp;&nbsp;26031 |
| Halfords Group PLC | &nbsp;&nbsp;&nbsp;4413 | &nbsp;&nbsp;&nbsp;&nbsp;9400 |
| Harbour Energy PLC | &nbsp;&nbsp;16506 | &nbsp;&nbsp;&nbsp;44248 |
| Harworth Group PLC | &nbsp;&nbsp;&nbsp;6530 | &nbsp;&nbsp;&nbsp;16201 |
| Hays PLC | &nbsp;&nbsp;69356 | &nbsp;&nbsp;&nbsp;67809 |
| Headlam Group PLC (A) | &nbsp;&nbsp;&nbsp;6602 | &nbsp;&nbsp;&nbsp;&nbsp;7900 |
| Helios Towers PLC (A) | &nbsp;&nbsp;21114 | &nbsp;&nbsp;&nbsp;35242 |
| Henry Boot PLC (C) | &nbsp;&nbsp;&nbsp;5301 | &nbsp;&nbsp;&nbsp;16813 |
| Hikma Pharmaceuticals PLC | &nbsp;&nbsp;&nbsp;4522 | 123401 |
| Hill & Smith PLC | &nbsp;&nbsp;&nbsp;3753 | &nbsp;&nbsp;&nbsp;92499 |
| Hilton Food Group PLC | &nbsp;&nbsp;&nbsp;3867 | &nbsp;&nbsp;&nbsp;45985 |
| Hollywood Bowl Group PLC | &nbsp;&nbsp;&nbsp;8153 | &nbsp;&nbsp;&nbsp;28179 |
| Howden Joinery Group PLC | &nbsp;&nbsp;12134 | 142689 |
| Hunting PLC | &nbsp;&nbsp;&nbsp;6301 | &nbsp;&nbsp;&nbsp;26049 |
| Ibstock PLC (D) | &nbsp;&nbsp;19043 | &nbsp;&nbsp;&nbsp;38239 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 69 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### International Small Company Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **United Kingdom (continued)** |  |  |
| IDOX PLC (C) | &nbsp;&nbsp;10437 | $&nbsp;&nbsp;&nbsp;&nbsp;9471 |
| IG Group Holdings PLC | &nbsp;&nbsp;10589 | 154845 |
| IMI PLC | &nbsp;&nbsp;&nbsp;3522 | 101346 |
| Impax Asset Management Group PLC | &nbsp;&nbsp;&nbsp;4165 | &nbsp;&nbsp;&nbsp;10600 |
| Inchcape PLC | &nbsp;&nbsp;15353 | 152975 |
| IntegraFin Holdings PLC | &nbsp;&nbsp;12246 | &nbsp;&nbsp;&nbsp;54768 |
| International Personal Finance PLC | &nbsp;&nbsp;12526 | &nbsp;&nbsp;&nbsp;29278 |
| iomart Group PLC | &nbsp;&nbsp;&nbsp;2265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;885 |
| IP Group PLC (A) | &nbsp;&nbsp;38897 | &nbsp;&nbsp;&nbsp;27732 |
| IQE PLC (A) | &nbsp;&nbsp;39142 | &nbsp;&nbsp;&nbsp;&nbsp;5533 |
| ITV PLC | 154019 | 174486 |
| J.D. Wetherspoon PLC | &nbsp;&nbsp;&nbsp;4402 | &nbsp;&nbsp;&nbsp;46805 |
| James Fisher & Sons PLC (A) | &nbsp;&nbsp;&nbsp;2814 | &nbsp;&nbsp;&nbsp;13519 |
| James Halstead PLC (C) | &nbsp;&nbsp;11052 | &nbsp;&nbsp;&nbsp;24200 |
| JD Sports Fashion PLC | &nbsp;&nbsp;51224 | &nbsp;&nbsp;&nbsp;62466 |
| JET2 PLC | &nbsp;&nbsp;&nbsp;6865 | 174106 |
| John Wood Group PLC (A)(B) | &nbsp;&nbsp;26919 | &nbsp;&nbsp;&nbsp;&nbsp;6814 |
| Johnson Matthey PLC | &nbsp;&nbsp;&nbsp;6489 | 154724 |
| Johnson Service Group PLC | &nbsp;&nbsp;19438 | &nbsp;&nbsp;&nbsp;40549 |
| Jupiter Fund Management PLC | &nbsp;&nbsp;22824 | &nbsp;&nbsp;&nbsp;31311 |
| Just Group PLC | &nbsp;&nbsp;47041 | &nbsp;&nbsp;&nbsp;85649 |
| Kainos Group PLC | &nbsp;&nbsp;&nbsp;4099 | &nbsp;&nbsp;&nbsp;41762 |
| Keller Group PLC | &nbsp;&nbsp;&nbsp;2943 | &nbsp;&nbsp;&nbsp;59206 |
| Kier Group PLC | &nbsp;&nbsp;22531 | &nbsp;&nbsp;&nbsp;64548 |
| Kingfisher PLC | &nbsp;&nbsp;23625 | &nbsp;&nbsp;&nbsp;94348 |
| Kitwave Group PLC | &nbsp;&nbsp;&nbsp;3226 | &nbsp;&nbsp;&nbsp;14225 |
| Knights Group Holdings PLC | &nbsp;&nbsp;&nbsp;2269 | &nbsp;&nbsp;&nbsp;&nbsp;5940 |
| Lancashire Holdings, Ltd. | &nbsp;&nbsp;&nbsp;8617 | &nbsp;&nbsp;&nbsp;68091 |
| Lion Finance Group PLC | &nbsp;&nbsp;&nbsp;1249 | 121656 |
| LSL Property Services PLC | &nbsp;&nbsp;&nbsp;2514 | &nbsp;&nbsp;&nbsp;10986 |
| Luceco PLC (D) | &nbsp;&nbsp;&nbsp;1922 | &nbsp;&nbsp;&nbsp;&nbsp;3939 |
| M&C Saatchi PLC | &nbsp;&nbsp;&nbsp;&nbsp;253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;672 |
| M&G PLC | &nbsp;&nbsp;32542 | 115026 |
| Macfarlane Group PLC | &nbsp;&nbsp;&nbsp;6288 | &nbsp;&nbsp;&nbsp;10191 |
| Man Group PLC | &nbsp;&nbsp;52083 | 120993 |
| Marshalls PLC | &nbsp;&nbsp;&nbsp;3831 | &nbsp;&nbsp;&nbsp;14153 |
| Marston's PLC (A) | &nbsp;&nbsp;37566 | &nbsp;&nbsp;&nbsp;21544 |
| McBride PLC (A) | &nbsp;&nbsp;14770 | &nbsp;&nbsp;&nbsp;30459 |
| ME Group International PLC | &nbsp;&nbsp;11444 | &nbsp;&nbsp;&nbsp;36075 |
| Mears Group PLC | &nbsp;&nbsp;&nbsp;4066 | &nbsp;&nbsp;&nbsp;21607 |
| Metro Bank Holdings PLC (A) | &nbsp;&nbsp;&nbsp;9741 | &nbsp;&nbsp;&nbsp;17675 |
| Midwich Group PLC | &nbsp;&nbsp;&nbsp;1327 | &nbsp;&nbsp;&nbsp;&nbsp;3844 |
| Mitchells & Butlers PLC (A) | &nbsp;&nbsp;13654 | &nbsp;&nbsp;&nbsp;53729 |
| Mitie Group PLC | &nbsp;&nbsp;58272 | 113112 |
| MJ Gleeson PLC | &nbsp;&nbsp;&nbsp;2770 | &nbsp;&nbsp;&nbsp;15076 |
| Mobico Group PLC (A) | &nbsp;&nbsp;21097 | &nbsp;&nbsp;&nbsp;&nbsp;8550 |
| MONY Group PLC | &nbsp;&nbsp;22189 | &nbsp;&nbsp;&nbsp;67462 |
| Moonpig Group PLC | &nbsp;&nbsp;11812 | &nbsp;&nbsp;&nbsp;36365 |
| Morgan Advanced Materials PLC | &nbsp;&nbsp;&nbsp;8676 | &nbsp;&nbsp;&nbsp;26214 |
| Morgan Sindall Group PLC | &nbsp;&nbsp;&nbsp;1818 | 114217 |
| Mortgage Advice Bureau Holdings, Ltd. | &nbsp;&nbsp;&nbsp;1276 | &nbsp;&nbsp;&nbsp;15476 |
| MP Evans Group PLC | &nbsp;&nbsp;&nbsp;1384 | &nbsp;&nbsp;&nbsp;21457 |
| NCC Group PLC | &nbsp;&nbsp;17294 | &nbsp;&nbsp;&nbsp;34356 |
| Next 15 Group PLC | &nbsp;&nbsp;&nbsp;3756 | &nbsp;&nbsp;&nbsp;12429 |
| Ninety One PLC | &nbsp;&nbsp;15140 | &nbsp;&nbsp;&nbsp;38650 |
| Norcros PLC | &nbsp;&nbsp;&nbsp;6666 | &nbsp;&nbsp;&nbsp;25099 |
| Ocado Group PLC (A) | &nbsp;&nbsp;15572 | &nbsp;&nbsp;&nbsp;48570 |
| Odfjell Technology, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;828 | &nbsp;&nbsp;&nbsp;&nbsp;4058 |
| On the Beach Group PLC (D) | &nbsp;&nbsp;&nbsp;5451 | &nbsp;&nbsp;&nbsp;22100 |
| OSB Group PLC | &nbsp;&nbsp;15883 | 114114 |
| Oxford Instruments PLC | &nbsp;&nbsp;&nbsp;1216 | &nbsp;&nbsp;&nbsp;31644 |
| Pagegroup PLC | &nbsp;&nbsp;&nbsp;8870 | &nbsp;&nbsp;&nbsp;32589 |
| Paragon Banking Group PLC | &nbsp;&nbsp;&nbsp;8507 | 110362 |
| PayPoint PLC | &nbsp;&nbsp;&nbsp;2907 | &nbsp;&nbsp;&nbsp;33799 |
| Pennon Group PLC | &nbsp;&nbsp;19735 | 136156 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **United Kingdom (continued)** |  |  |
| Persimmon PLC | &nbsp;&nbsp;8864 | $157693 |
| Pets at Home Group PLC | 16087 | &nbsp;&nbsp;&nbsp;57914 |
| Pharos Energy PLC | 16636 | &nbsp;&nbsp;&nbsp;&nbsp;4664 |
| Phoenix Spree Deutschland, Ltd. (A) | &nbsp;&nbsp;5484 | &nbsp;&nbsp;&nbsp;12407 |
| Pinewood Technologies Group PLC (A) | &nbsp;&nbsp;5133 | &nbsp;&nbsp;&nbsp;31483 |
| Polar Capital Holdings PLC | &nbsp;&nbsp;3830 | &nbsp;&nbsp;&nbsp;24978 |
| Porvair PLC | &nbsp;&nbsp;1199 | &nbsp;&nbsp;&nbsp;11883 |
| Premier Foods PLC | 23840 | &nbsp;&nbsp;&nbsp;65280 |
| PZ Cussons PLC | 13141 | &nbsp;&nbsp;&nbsp;13385 |
| QinetiQ Group PLC | 20327 | 143829 |
| Quilter PLC (D) | 63959 | 137753 |
| Rank Group PLC | &nbsp;&nbsp;7303 | &nbsp;&nbsp;&nbsp;13334 |
| Rathbones Group PLC | &nbsp;&nbsp;2285 | &nbsp;&nbsp;&nbsp;54679 |
| Reach PLC | 10533 | &nbsp;&nbsp;&nbsp;10595 |
| Renew Holdings PLC | &nbsp;&nbsp;3437 | &nbsp;&nbsp;&nbsp;40044 |
| Ricardo PLC | &nbsp;&nbsp;2982 | &nbsp;&nbsp;&nbsp;18149 |
| Rightmove PLC | &nbsp;&nbsp;2254 | &nbsp;&nbsp;&nbsp;24396 |
| Robert Walters PLC | &nbsp;&nbsp;4693 | &nbsp;&nbsp;&nbsp;11808 |
| Rotork PLC | 35693 | 157471 |
| RS GROUP PLC | 14553 | 114881 |
| RWS Holdings PLC | &nbsp;&nbsp;1824 | &nbsp;&nbsp;&nbsp;&nbsp;2223 |
| S&U PLC | &nbsp;&nbsp;&nbsp;&nbsp;513 | &nbsp;&nbsp;&nbsp;12621 |
| Sabre Insurance Group PLC (D) | 10582 | &nbsp;&nbsp;&nbsp;21521 |
| Saga PLC (A) | &nbsp;&nbsp;4637 | &nbsp;&nbsp;&nbsp;11165 |
| Savannah Energy PLC (A) | 53744 | &nbsp;&nbsp;&nbsp;&nbsp;5262 |
| Savills PLC | &nbsp;&nbsp;5951 | &nbsp;&nbsp;&nbsp;81310 |
| Senior PLC | 17000 | &nbsp;&nbsp;&nbsp;42973 |
| Serco Group PLC | 46758 | 129726 |
| Serica Energy PLC | 10784 | &nbsp;&nbsp;&nbsp;23504 |
| Severfield PLC | 11941 | &nbsp;&nbsp;&nbsp;&nbsp;6166 |
| SIG PLC (A) | 64105 | &nbsp;&nbsp;&nbsp;13710 |
| SigmaRoc PLC (A) | 18853 | &nbsp;&nbsp;&nbsp;27861 |
| Softcat PLC | &nbsp;&nbsp;5154 | 121463 |
| Spectris PLC | &nbsp;&nbsp;2259 | 119044 |
| Speedy Hire PLC | 24369 | &nbsp;&nbsp;&nbsp;&nbsp;9772 |
| Spirax Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;392 | &nbsp;&nbsp;&nbsp;32055 |
| Spire Healthcare Group PLC (D) | 13646 | &nbsp;&nbsp;&nbsp;42012 |
| Spirent Communications PLC (A) | 25617 | &nbsp;&nbsp;&nbsp;68564 |
| SSP Group PLC | 32793 | &nbsp;&nbsp;&nbsp;77668 |
| SThree PLC | &nbsp;&nbsp;6106 | &nbsp;&nbsp;&nbsp;20475 |
| Studio Retail Group PLC (A)(B) | &nbsp;&nbsp;8139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| STV Group PLC | &nbsp;&nbsp;2712 | &nbsp;&nbsp;&nbsp;&nbsp;6498 |
| Synthomer PLC (A) | &nbsp;&nbsp;6230 | &nbsp;&nbsp;&nbsp;&nbsp;9369 |
| Tate & Lyle PLC | 16269 | 115389 |
| Tatton Asset Management PLC | &nbsp;&nbsp;1955 | &nbsp;&nbsp;&nbsp;18141 |
| Taylor Wimpey PLC | 75745 | 123518 |
| Team Internet Group PLC | 10289 | &nbsp;&nbsp;&nbsp;&nbsp;8946 |
| Telecom Plus PLC | &nbsp;&nbsp;2698 | &nbsp;&nbsp;&nbsp;71495 |
| The Berkeley Group Holdings PLC | &nbsp;&nbsp;1908 | 101095 |
| The Gym Group PLC (A)(D) | &nbsp;&nbsp;5959 | &nbsp;&nbsp;&nbsp;12441 |
| The Vitec Group PLC (A) | &nbsp;&nbsp;3978 | &nbsp;&nbsp;&nbsp;&nbsp;4467 |
| THG PLC (A)(C) | 26758 | &nbsp;&nbsp;&nbsp;11870 |
| Topps Tiles PLC | 15591 | &nbsp;&nbsp;&nbsp;&nbsp;7489 |
| TORM PLC, Class A | &nbsp;&nbsp;1905 | &nbsp;&nbsp;&nbsp;32075 |
| TP ICAP Group PLC | 34104 | 127691 |
| Trainline PLC (A)(D) | &nbsp;&nbsp;8324 | &nbsp;&nbsp;&nbsp;31973 |
| Travis Perkins PLC | &nbsp;&nbsp;9597 | &nbsp;&nbsp;&nbsp;80013 |
| Trifast PLC | &nbsp;&nbsp;7237 | &nbsp;&nbsp;&nbsp;&nbsp;7051 |
| Tullow Oil PLC (A)(C) | 46125 | &nbsp;&nbsp;&nbsp;10060 |
| Vanquis Banking Group PLC (A) | 13396 | &nbsp;&nbsp;&nbsp;18510 |
| Vertu Motors PLC | 13548 | &nbsp;&nbsp;&nbsp;11801 |
| Vesuvius PLC | &nbsp;&nbsp;9782 | &nbsp;&nbsp;&nbsp;52709 |
| Victrex PLC | &nbsp;&nbsp;3473 | &nbsp;&nbsp;&nbsp;37040 |
| Vistry Group PLC (A) | &nbsp;&nbsp;6637 | &nbsp;&nbsp;&nbsp;58145 |
| Volex PLC (C) | &nbsp;&nbsp;6267 | &nbsp;&nbsp;&nbsp;32962 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 70 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### International Small Company Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **United Kingdom (continued)** |  |  |
| Volution Group PLC | &nbsp;&nbsp;8031 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65164 |
| Vp PLC | &nbsp;&nbsp;&nbsp;&nbsp;637 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5253 |
| Watches of Switzerland Group PLC (A)(D) | 10654 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59983 |
| Watkin Jones PLC (A) | 10502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4048 |
| WH Smith PLC | &nbsp;&nbsp;5221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78201 |
| Wickes Group PLC | 13094 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40362 |
| Wilmington PLC | &nbsp;&nbsp;8076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37731 |
| Xaar PLC (A) | &nbsp;&nbsp;5629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9519 |
| XPS Pensions Group PLC | &nbsp;&nbsp;6949 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36417 |
| Young & Co's Brewery PLC | &nbsp;&nbsp;1750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14735 |
| Young & Co's Brewery PLC, Class A | &nbsp;&nbsp;1224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16134 |
| Zigup PLC | &nbsp;&nbsp;8827 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43053 |
| Zotefoams PLC | &nbsp;&nbsp;1549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6815 |
|  |  | &nbsp;&nbsp;&nbsp;11867400 |
| **United States - 0.6%** |  |  |
| Aura Minerals, Inc. | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26591 |
| Brookfield Infrastructure Corp., Class A | &nbsp;&nbsp;1488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61913 |
| Burford Capital, Ltd. | &nbsp;&nbsp;8276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96824 |
| Diversified Energy Company PLC (C) | &nbsp;&nbsp;1929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28755 |
| Energy Fuels, Inc. (A)(C) | &nbsp;&nbsp;3431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19728 |
| Energy Fuels, Inc. (Toronto Stock Exchange) (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4219 |
| Frontage Holdings Corp. (A)(D) | 14000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1915 |
| Hut 8 Corp. (A) | &nbsp;&nbsp;1468 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27349 |
| PureTech Health PLC (A) | &nbsp;&nbsp;8318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14217 |
| REC Silicon ASA (A) | 16036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4049 |
| Reliance Worldwide Corp., Ltd. | 33532 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90463 |
| Samsonite Group SA (D) | 41100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76564 |
| SSR Mining, Inc. (A) | &nbsp;&nbsp;8907 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113615 |
| SunOpta, Inc. (A) | &nbsp;&nbsp;4818 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27944 |
| Viemed Healthcare, Inc. (A) | &nbsp;&nbsp;2600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17966 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;612112 |
| TOTAL COMMON STOCKS (Cost $98,970,595) | TOTAL COMMON STOCKS (Cost $98,970,595) | $103408983 |
| **PREFERRED SECURITIES - 0.4%** | **PREFERRED SECURITIES - 0.4%** |  |
| **Germany - 0.4%** |  |  |
| Draegerwerk AG & Company KGaA | &nbsp;&nbsp;&nbsp;&nbsp;565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44750 |
| Einhell Germany AG | &nbsp;&nbsp;&nbsp;&nbsp;219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19379 |
| FUCHS SE | &nbsp;&nbsp;2954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163261 |
| Jungheinrich AG | &nbsp;&nbsp;2336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110243 |
| Sixt SE | &nbsp;&nbsp;&nbsp;&nbsp;838 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58881 |
| STO SE & Company KGaA | &nbsp;&nbsp;&nbsp;&nbsp;163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23045 |
| Villeroy & Boch AG | &nbsp;&nbsp;&nbsp;&nbsp;625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13353 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;432912 |
| TOTAL PREFERRED SECURITIES (Cost $312,065) | TOTAL PREFERRED SECURITIES (Cost $312,065) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;432912 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **RIGHTS - 0.0%** |  |  |
| Intercell AG (A)(B)(E) | &nbsp;&nbsp;&nbsp;3233 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Leg Immobilien SE (Expiration Date: 7-4-25) (A)(E) | &nbsp;&nbsp;&nbsp;3351 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10658 |
| TOTAL RIGHTS (Cost $10,327) | TOTAL RIGHTS (Cost $10,327) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10658 |
| **WARRANTS - 0.0%** |  |  |
| CSI Properties, Ltd. (Expiration Date: 4-7-27; Strike Price: HKD 0.22) (A) | &nbsp;&nbsp;12253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31 |
| Webuild SpA (Expiration Date: 8-2-30) (A)(E) | &nbsp;&nbsp;&nbsp;1316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;973 |
| TOTAL WARRANTS (Cost $0) | TOTAL WARRANTS (Cost $0) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1004 |
| **SHORT-TERM INVESTMENTS - 2.3%** | **SHORT-TERM INVESTMENTS - 2.3%** |  |
| **Short-term funds - 2.3%** |  |  |
| John Hancock Collateral Trust, 4.2596% (F)(G) | 238271 | &nbsp;&nbsp;&nbsp;&nbsp;2383284 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $2,383,302) | TOTAL SHORT-TERM INVESTMENTS (Cost $2,383,302) | $&nbsp;&nbsp;&nbsp;&nbsp;2383284 |
| **Total Investments (International Small Company Trust)<br> (Cost $101,676,289) - 100.8%** | **Total Investments (International Small Company Trust)<br> (Cost $101,676,289) - 100.8%** | $**106236841** |
| **Other assets and liabilities, net - (0.8%)** | **Other assets and liabilities, net - (0.8%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(856821)** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $**105380020** |

---

---

| | |
|:---|:---|
| <u>Currency Abbreviations</u> | <u>Currency Abbreviations</u> |
| HKD | Hong Kong Dollar |
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| (A) | Non-income producing security. |
| (B) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements. |
| (C) | All or a portion of this security is on loan as of 6-30-25. |
| (D) | This security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. |
| (E) | Strike price and/or expiration date not available. |
| (F) | The rate shown is the annualized seven-day yield as of 6-30-25. |
| (G) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |

---

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| Mini MSCI EAFE Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;$657211 | &nbsp;&nbsp;&nbsp;&nbsp;$670225 | &nbsp;&nbsp;&nbsp;&nbsp;$13014 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$13014** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

See Notes to financial statements regarding investment transactions and other derivatives information.

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 71 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Lifestyle Balanced Portfolio

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **AFFILIATED INVESTMENT COMPANIES (A) - 100.0%** | **AFFILIATED INVESTMENT COMPANIES (A) - 100.0%** |  |
| **Equity - 51.4%** | **Equity - 51.4%** |  |
| Strategic Equity Allocation, Series NAV, JHVIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;25865900 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;503091746 |
| **Fixed income - 48.6%** | **Fixed income - 48.6%** |  |
| Select Bond, Series NAV, JHVIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;39703085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476437016 |
| TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $978,672,221) | TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $978,672,221) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;979528762 |
| **SHORT-TERM INVESTMENTS - 0.0%** | **SHORT-TERM INVESTMENTS - 0.0%** |  |
| **Short-term funds - 0.0%** |  |  |
| John Hancock Collateral Trust, 4.2596% (C)(D) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $22) | TOTAL SHORT-TERM INVESTMENTS (Cost $22) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22 |
| **Total Investments (Lifestyle Balanced Portfolio) (Cost $978,672,243) - 100.0%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**979528784** |
| **Other assets and liabilities, net - (0.0%)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(51548)** |
| **TOTAL NET ASSETS - 100.0%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**979477236** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| JHVIT | John Hancock Variable Insurance Trust |
| MIM US | Manulife Investment Management (US) LLC |
| (A) | The underlying portfolios' subadvisor is shown parenthetically. |
| (B) | The subadvisor is an affiliate of the advisor. |
| (C) | The rate shown is the annualized seven-day yield as of 6-30-25. |
| (D) | Investment is an affiliate of the fund, the advisor and/or subadvisor. |

---

#### Lifestyle Conservative Portfolio

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **AFFILIATED INVESTMENT COMPANIES (A) - 100.0%** | **AFFILIATED INVESTMENT COMPANIES (A) - 100.0%** |  |
| **Equity - 20.1%** | **Equity - 20.1%** |  |
| Strategic Equity Allocation, Series NAV, JHVIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1586024 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30848163 |
| **Fixed income - 79.9%** | **Fixed income - 79.9%** |  |
| Select Bond, Series NAV, JHVIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;10186599 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122239191 |
| TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $162,802,134) | TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $162,802,134) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153087354 |
| **SHORT-TERM INVESTMENTS - 0.0%** | **SHORT-TERM INVESTMENTS - 0.0%** |  |
| **Short-term funds - 0.0%** |  |  |
| John Hancock Collateral Trust, 4.2596% (C)(D) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;393 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3930 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $3,930) | TOTAL SHORT-TERM INVESTMENTS (Cost $3,930) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3930 |
| **Total Investments (Lifestyle Conservative Portfolio) (Cost $162,806,064) - 100.0%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**153091284** |
| **Other assets and liabilities, net - (0.0%)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(33178)** |
| **TOTAL NET ASSETS - 100.0%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**153058106** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| JHVIT | John Hancock Variable Insurance Trust |
| MIM US | Manulife Investment Management (US) LLC |
| (A) | The underlying portfolios' subadvisor is shown parenthetically. |
| (B) | The subadvisor is an affiliate of the advisor. |
| (C) | The rate shown is the annualized seven-day yield as of 6-30-25. |
| (D) | Investment is an affiliate of the fund, the advisor and/or subadvisor. |

---

#### Lifestyle Growth Portfolio

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **AFFILIATED INVESTMENT COMPANIES (A) - 100.0%** | **AFFILIATED INVESTMENT COMPANIES (A) - 100.0%** |  |
| **Equity - 71.5%** | **Equity - 71.5%** |  |
| Strategic Equity Allocation, Series NAV, JHVIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;188800524 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3672170184 |
| **Fixed income - 28.5%** | **Fixed income - 28.5%** |  |
| Select Bond, Series NAV, JHVIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;121805467 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1461665605 |
| TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $4,944,397,412) | TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $4,944,397,412) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5133835789 |
| **SHORT-TERM INVESTMENTS - 0.0%** | **SHORT-TERM INVESTMENTS - 0.0%** |  |
| **Short-term funds - 0.0%** |  |  |
| John Hancock Collateral Trust, 4.2596% (C)(D) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $75) | TOTAL SHORT-TERM INVESTMENTS (Cost $75) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 |
| **Total Investments (Lifestyle Growth Portfolio) (Cost $4,944,397,487) - 100.0%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;**5133835864** |
| **Other assets and liabilities, net - (0.0%)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(135123)** |
| **TOTAL NET ASSETS - 100.0%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5133700741** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| JHVIT | John Hancock Variable Insurance Trust |
| MIM US | Manulife Investment Management (US) LLC |
| (A) | The underlying portfolios' subadvisor is shown parenthetically. |
| (B) | The subadvisor is an affiliate of the advisor. |
| (C) | The rate shown is the annualized seven-day yield as of 6-30-25. |
| (D) | Investment is an affiliate of the fund, the advisor and/or subadvisor. |

---

#### Lifestyle Moderate Portfolio

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **AFFILIATED INVESTMENT COMPANIES (A) - 100.0%** | **AFFILIATED INVESTMENT COMPANIES (A) - 100.0%** |  |
| **Equity - 40.6%** | **Equity - 40.6%** |  |
| Strategic Equity Allocation, Series NAV, JHVIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5622780 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109363067 |
| **Fixed income - 59.4%** | **Fixed income - 59.4%** |  |
| Select Bond, Series NAV, JHVIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;13349748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160196980 |
| TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $275,568,307) | TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $275,568,307) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269560047 |
| **SHORT-TERM INVESTMENTS - 0.0%** | **SHORT-TERM INVESTMENTS - 0.0%** |  |
| **Short-term funds - 0.0%** |  |  |
| John Hancock Collateral Trust, 4.2596% (C)(D) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;458 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4584 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $4,584) | TOTAL SHORT-TERM INVESTMENTS (Cost $4,584) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4584 |
| **Total Investments (Lifestyle Moderate Portfolio) (Cost $275,572,891) - 100.0%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**269564631** |
| **Other assets and liabilities, net - (0.0%)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(35607)** |
| **TOTAL NET ASSETS - 100.0%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**269529024** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| JHVIT | John Hancock Variable Insurance Trust |
| MIM US | Manulife Investment Management (US) LLC |
| (A) | The underlying portfolios' subadvisor is shown parenthetically. |
| (B) | The subadvisor is an affiliate of the advisor. |
| (C) | The rate shown is the annualized seven-day yield as of 6-30-25. |
| (D) | Investment is an affiliate of the fund, the advisor and/or subadvisor. |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 72 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Mid Cap Growth Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS – 96.8%** | **COMMON STOCKS – 96.8%** |  |
| **Communication services – 8.4%** |  |  |
| **Entertainment – 7.4%** | **Entertainment – 7.4%** |  |
| Liberty Media Corp.-Liberty Formula One, Series C (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209343 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21876344 |
| Live Nation Entertainment, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149972 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22687767 |
| TKO Group Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19662 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3577501 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48141612 |
| **Media – 1.0%** | **Media – 1.0%** |  |
| The Trade Desk, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6221376 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54362988 |
| **Consumer discretionary – 21.2%** |  |  |
| **Broadline retail – 2.2%** | **Broadline retail – 2.2%** |  |
| Ollie's Bargain Outlet Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14237643 |
| **Hotels, restaurants and leisure – 14.6%** | **Hotels, restaurants and leisure – 14.6%** |  |
| Carnival Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;244377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6871881 |
| Cava Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13901 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1170881 |
| Chipotle Mexican Grill, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6616884 |
| DraftKings, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18258445 |
| Flutter Entertainment PLC (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9095169 |
| Hilton Worldwide Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3341235 |
| Life Time Group Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;322943 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9794861 |
| Marriott International, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54312 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14838582 |
| Royal Caribbean Cruises, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54877 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17184184 |
| Wingstop, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8003300 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95175422 |
| **Specialty retail – 2.1%** | **Specialty retail – 2.1%** |  |
| Chewy, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183911 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7838287 |
| Dick's Sporting Goods, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30074 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5948938 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13787225 |
| **Textiles, apparel and luxury goods – 2.3%** | **Textiles, apparel and luxury goods – 2.3%** |  |
| On Holding AG, Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11401188 |
| Tapestry, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37261 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3271888 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14673076 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137873366 |
| **Consumer staples – 2.9%** |  |  |
| **Consumer staples distribution and retail – 1.4%** | **Consumer staples distribution and retail – 1.4%** |  |
| U.S. Foods Holding Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9054913 |
| **Personal care products – 1.5%** | **Personal care products – 1.5%** |  |
| BellRing Brands, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9686475 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18741388 |
| **Energy – 3.4%** |  |  |
| **Oil, gas and consumable fuels – 3.4%** | **Oil, gas and consumable fuels – 3.4%** |  |
| Cameco Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2086605 |
| Coterra Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124409 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3157500 |
| Diamondback Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3187130 |
| Targa Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79339 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13811333 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22242568 |
| **Financials – 9.8%** |  |  |
| **Capital markets – 9.8%** | **Capital markets – 9.8%** |  |
| Coinbase Global, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8526 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2988278 |
| Evercore, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8959264 |
| Hamilton Lane, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43212 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6141289 |
| Interactive Brokers Group, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214913 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11908329 |
| KKR & Company, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9371697 |
| Morningstar, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20539 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6447808 |
| Tradeweb Markets, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17651887 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63468552 |
| **Health care – 13.6%** |  |  |
| **Biotechnology – 6.4%** | **Biotechnology – 6.4%** |  |
| Argenx SE, ADR (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9291 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5121385 |
| Exact Sciences Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231399 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12296543 |

---

#### Mid Cap Growth Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Biotechnology (continued)** | **Biotechnology (continued)** |  |
| Natera, Inc. (A) | 108880 | $&nbsp;&nbsp;&nbsp;18394187 |
| United Therapeutics Corp. (A) | &nbsp;&nbsp;19454 | &nbsp;&nbsp;&nbsp;&nbsp;5590107 |
|  |  | &nbsp;&nbsp;&nbsp;41402222 |
| **Health care equipment and supplies – 2.7%** | **Health care equipment and supplies – 2.7%** |  |
| DexCom, Inc. (A) | &nbsp;&nbsp;79647 | &nbsp;&nbsp;&nbsp;&nbsp;6952387 |
| Glaukos Corp. (A) | &nbsp;&nbsp;66294 | &nbsp;&nbsp;&nbsp;&nbsp;6847507 |
| PROCEPT BioRobotics Corp. (A) | &nbsp;&nbsp;63527 | &nbsp;&nbsp;&nbsp;&nbsp;3659155 |
|  |  | &nbsp;&nbsp;&nbsp;17459049 |
| **Health care providers and services – 1.4%** | **Health care providers and services – 1.4%** |  |
| The Ensign Group, Inc. | &nbsp;&nbsp;59057 | &nbsp;&nbsp;&nbsp;&nbsp;9110133 |
| **Health care technology – 1.8%** | **Health care technology – 1.8%** |  |
| Veeva Systems, Inc., Class A (A) | &nbsp;&nbsp;41293 | &nbsp;&nbsp;&nbsp;11891558 |
| **Life sciences tools and services – 1.2%** | **Life sciences tools and services – 1.2%** |  |
| Waters Corp. (A) | &nbsp;&nbsp;21771 | &nbsp;&nbsp;&nbsp;&nbsp;7598950 |
| **Pharmaceuticals – 0.1%** | **Pharmaceuticals – 0.1%** |  |
| Structure Therapeutics, Inc., ADR (A) | &nbsp;&nbsp;30849 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;639808 |
|  |  | &nbsp;&nbsp;&nbsp;88101720 |
| **Industrials – 10.2%** |  |  |
| **Aerospace and defense – 3.7%** | **Aerospace and defense – 3.7%** |  |
| Axon Enterprise, Inc. (A) | &nbsp;&nbsp;16403 | &nbsp;&nbsp;&nbsp;13580700 |
| Howmet Aerospace, Inc. | &nbsp;&nbsp;55053 | &nbsp;&nbsp;&nbsp;10247015 |
|  |  | &nbsp;&nbsp;&nbsp;23827715 |
| **Commercial services and supplies – 1.4%** | **Commercial services and supplies – 1.4%** |  |
| Clean Harbors, Inc. (A) | &nbsp;&nbsp;40470 | &nbsp;&nbsp;&nbsp;&nbsp;9355855 |
| **Construction and engineering – 1.4%** | **Construction and engineering – 1.4%** |  |
| Quanta Services, Inc. | &nbsp;&nbsp;24735 | &nbsp;&nbsp;&nbsp;&nbsp;9351809 |
| **Professional services – 1.4%** | **Professional services – 1.4%** |  |
| Paycom Software, Inc. | &nbsp;&nbsp;38802 | &nbsp;&nbsp;&nbsp;&nbsp;8978783 |
| **Trading companies and distributors – 2.3%** | **Trading companies and distributors – 2.3%** |  |
| FTAI Aviation, Ltd. | &nbsp;&nbsp;61234 | &nbsp;&nbsp;&nbsp;&nbsp;7044359 |
| W.W. Grainger, Inc. | &nbsp;&nbsp;&nbsp;7526 | &nbsp;&nbsp;&nbsp;&nbsp;7828846 |
|  |  | &nbsp;&nbsp;&nbsp;14873205 |
|  |  | &nbsp;&nbsp;&nbsp;66387367 |
| **Information technology – 22.5%** |  |  |
| **Electronic equipment, instruments and components – 5.6%** | **Electronic equipment, instruments and components – 5.6%** |  |
| Celestica, Inc. (A) | 126021 | &nbsp;&nbsp;&nbsp;19673138 |
| Cognex Corp. | 150147 | &nbsp;&nbsp;&nbsp;&nbsp;4762663 |
| Flex, Ltd. (A) | 235742 | &nbsp;&nbsp;&nbsp;11768241 |
|  |  | &nbsp;&nbsp;&nbsp;36204042 |
| **IT services – 7.2%** | **IT services – 7.2%** |  |
| Cloudflare, Inc., Class A (A) | &nbsp;&nbsp;87334 | &nbsp;&nbsp;&nbsp;17102617 |
| GoDaddy, Inc., Class A (A) | &nbsp;&nbsp;83906 | &nbsp;&nbsp;&nbsp;15108114 |
| Snowflake, Inc., Class A (A) | &nbsp;&nbsp;22323 | &nbsp;&nbsp;&nbsp;&nbsp;4995218 |
| Twilio, Inc., Class A (A) | &nbsp;&nbsp;76752 | &nbsp;&nbsp;&nbsp;&nbsp;9544879 |
|  |  | &nbsp;&nbsp;&nbsp;46750828 |
| **Software – 9.7%** | **Software – 9.7%** |  |
| AppLovin Corp., Class A (A) | &nbsp;&nbsp;13805 | &nbsp;&nbsp;&nbsp;&nbsp;4832854 |
| Clearwater Analytics Holdings, Inc., Class A (A) | 261060 | &nbsp;&nbsp;&nbsp;&nbsp;5725046 |
| Datadog, Inc., Class A (A) | &nbsp;&nbsp;80028 | &nbsp;&nbsp;&nbsp;10750161 |
| DocuSign, Inc. (A) | 184080 | &nbsp;&nbsp;&nbsp;14337991 |
| Guidewire Software, Inc. (A) | &nbsp;&nbsp;35984 | &nbsp;&nbsp;&nbsp;&nbsp;8472433 |
| HubSpot, Inc. (A) | &nbsp;&nbsp;17448 | &nbsp;&nbsp;&nbsp;&nbsp;9712080 |
| Samsara, Inc., Class A (A) | &nbsp;&nbsp;80741 | &nbsp;&nbsp;&nbsp;&nbsp;3211877 |
| ServiceTitan, Inc., Class A (A) | &nbsp;&nbsp;60119 | &nbsp;&nbsp;&nbsp;&nbsp;6443554 |
|  |  | &nbsp;&nbsp;&nbsp;63485996 |
|  |  | 146440866 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 73 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Mid Cap Growth Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Real estate – 3.2%** |  |  |
| **Real estate management and development – 1.5%** | **Real estate management and development – 1.5%** |  |
| Zillow Group, Inc., Class C (A) | &nbsp;&nbsp;&nbsp;&nbsp;135919 | $&nbsp;&nbsp;&nbsp;&nbsp;9521126 |
| **Residential REITs – 0.8%** | **Residential REITs – 0.8%** |  |
| AvalonBay Communities, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;26370 | &nbsp;&nbsp;&nbsp;&nbsp;5366295 |
| **Specialized REITs – 0.9%** | **Specialized REITs – 0.9%** |  |
| Crown Castle, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;59134 | &nbsp;&nbsp;&nbsp;&nbsp;6074836 |
|  |  | &nbsp;&nbsp;&nbsp;20962257 |
| **Utilities – 1.6%** |  |  |
| **Gas utilities – 0.7%** | **Gas utilities – 0.7%** |  |
| Atmos Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;31626 | &nbsp;&nbsp;&nbsp;&nbsp;4873883 |
| **Multi-utilities – 0.9%** | **Multi-utilities – 0.9%** |  |
| Dominion Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;102963 | &nbsp;&nbsp;&nbsp;&nbsp;5819469 |
|  |  | &nbsp;&nbsp;&nbsp;10693352 |
| TOTAL COMMON STOCKS (Cost $538,076,247) | TOTAL COMMON STOCKS (Cost $538,076,247) | $629274424 |
| **PREFERRED SECURITIES – 0.5%** |  |  |
| **Information technology – 0.5%** |  |  |
| **Software – 0.5%** | **Software – 0.5%** |  |
| Essence Group Holdings Corp. (A)(B)(C) | &nbsp;&nbsp;1663188 | &nbsp;&nbsp;&nbsp;&nbsp;2029089 |
| Lookout, Inc., Series F (A)(B)(C) | &nbsp;&nbsp;&nbsp;&nbsp;211003 | &nbsp;&nbsp;&nbsp;&nbsp;1344089 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;3373178 |
| TOTAL PREFERRED SECURITIES (Cost $5,070,285) | TOTAL PREFERRED SECURITIES (Cost $5,070,285) | $&nbsp;&nbsp;&nbsp;&nbsp;3373178 |
| **EXCHANGE-TRADED FUNDS – 1.1%** | **EXCHANGE-TRADED FUNDS – 1.1%** |  |
| iShares Russell Mid-Cap Growth ETF | &nbsp;&nbsp;&nbsp;&nbsp;24247 | &nbsp;&nbsp;&nbsp;&nbsp;3362574 |
| Vanguard Mid-Cap Growth ETF | &nbsp;&nbsp;&nbsp;&nbsp;11824 | &nbsp;&nbsp;&nbsp;&nbsp;3362627 |
| TOTAL EXCHANGE-TRADED FUNDS (Cost $6,717,977) | TOTAL EXCHANGE-TRADED FUNDS (Cost $6,717,977) | $&nbsp;&nbsp;&nbsp;&nbsp;6725201 |
| **SHORT-TERM INVESTMENTS – 3.0%** | **SHORT-TERM INVESTMENTS – 3.0%** |  |
| **Repurchase agreement – 3.0%** |  |  |
| Deutsche Bank Tri-Party Repurchase Agreement dated 6-30-25 at 4.400% to be repurchased at $19,602,396 on 7-1-25, collateralized by $20,650,400 U.S. Treasury Bonds, 4.625% due 5-15-54 (valued at $19,992,091) | $19600000 | &nbsp;&nbsp;&nbsp;19600000 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $19,600,000) | TOTAL SHORT-TERM INVESTMENTS (Cost $19,600,000) | $&nbsp;&nbsp;&nbsp;19600000 |
| **Total Investments (Mid Cap Growth Trust)<br> (Cost $569,464,509) – 101.4%** | **Total Investments (Mid Cap Growth Trust)<br> (Cost $569,464,509) – 101.4%** | $**658972803** |
| **Other assets and liabilities, net – (1.4%)** | **Other assets and liabilities, net – (1.4%)** | &nbsp;&nbsp;&nbsp;**(8980527)** |
| **TOTAL NET ASSETS – 100.0%** | **TOTAL NET ASSETS – 100.0%** | $**649992276** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| ADR | American Depositary Receipt |
| (A) | Non-income producing security. |
| (B) | Restricted security as to resale. For more information on this security refer to the Notes to financial statements. |
| (C) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements. |

---

#### Mid Cap Index Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS – 96.6%** | **COMMON STOCKS – 96.6%** |  |
| **Communication services – 1.2%** |  |  |
| **Diversified telecommunication services – 0.4%** | **Diversified telecommunication services – 0.4%** |  |
| Frontier Communications Parent, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87109 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3170768 |

---

#### Mid Cap Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Diversified telecommunication services (continued)** | **Diversified telecommunication services (continued)** |  |
| Iridium Communications, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42303 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1276282 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4447050 |
| **Entertainment – 0.1%** | **Entertainment – 0.1%** |  |
| Warner Music Group Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57058 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1554260 |
| **Interactive media and services – 0.1%** | **Interactive media and services – 0.1%** |  |
| ZoomInfo Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101627 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1028465 |
| **Media – 0.6%** | **Media – 0.6%** |  |
| EchoStar Corp., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1453751 |
| Nexstar Media Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11084 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1916978 |
| The New York Times Company, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63466 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3552827 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6923556 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13953331 |
| **Consumer discretionary – 12.8%** |  |  |
| **Automobile components – 0.8%** | **Automobile components – 0.8%** |  |
| Autoliv, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3112610 |
| Gentex Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87924 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1933449 |
| Lear Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1986032 |
| The Goodyear Tire & Rubber Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111743 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1158775 |
| Visteon Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10661 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;994671 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9185537 |
| **Automobiles – 0.2%** | **Automobiles – 0.2%** |  |
| Harley-Davidson, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1009230 |
| Thor Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20809 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1848047 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2857277 |
| **Broadline retail – 0.4%** | **Broadline retail – 0.4%** |  |
| Macy's, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1270404 |
| Ollie's Bargain Outlet Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24016 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3164828 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4435232 |
| **Diversified consumer services – 1.4%** | **Diversified consumer services – 1.4%** |  |
| Duolingo, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15356 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6296267 |
| Graham Holdings Company, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1256514 |
| Grand Canyon Education, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2067660 |
| H&R Block, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2874150 |
| Service Corp. International | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55678 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4532189 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17026780 |
| **Hotels, restaurants and leisure – 3.3%** | **Hotels, restaurants and leisure – 3.3%** |  |
| Aramark | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4291675 |
| Boyd Gaming Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1867976 |
| Cava Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2705299 |
| Choice Hotels International, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8647 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1097131 |
| Churchill Downs, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28251 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2853351 |
| Hilton Grand Vacations, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22587 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;938038 |
| Hyatt Hotels Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2290958 |
| Light & Wonder, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33002 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3176773 |
| Marriott Vacations Worldwide Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;898596 |
| Planet Fitness, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3576295 |
| Texas Roadhouse, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25947 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4862727 |
| The Wendy's Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63086 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;720442 |
| Travel + Leisure Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1340621 |
| Vail Resorts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2294569 |
| Wingstop, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10913 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3674844 |
| Wyndham Hotels & Resorts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2445639 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39034934 |
| **Household durables – 1.7%** | **Household durables – 1.7%** |  |
| KB Home | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1486126 |
| Somnigroup International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5496058 |
| Taylor Morrison Home Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2411042 |
| Toll Brothers, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4438630 |
| TopBuild Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11114 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3598046 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 74 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Mid Cap Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Household durables (continued)** | **Household durables (continued)** |  |
| Whirlpool Corp. | &nbsp;&nbsp;21750 | $&nbsp;&nbsp;&nbsp;&nbsp;2205885 |
|  |  | &nbsp;&nbsp;&nbsp;19635787 |
| **Leisure products – 0.5%** | **Leisure products – 0.5%** |  |
| Brunswick Corp. | &nbsp;&nbsp;25690 | &nbsp;&nbsp;&nbsp;&nbsp;1419116 |
| Mattel, Inc. (A) | 126291 | &nbsp;&nbsp;&nbsp;&nbsp;2490459 |
| Polaris, Inc. | &nbsp;&nbsp;20661 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;839870 |
| YETI Holdings, Inc. (A) | &nbsp;&nbsp;32390 | &nbsp;&nbsp;&nbsp;&nbsp;1020933 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;5770378 |
| **Specialty retail – 3.6%** | **Specialty retail – 3.6%** |  |
| Abercrombie & Fitch Company, Class A (A) | &nbsp;&nbsp;18632 | &nbsp;&nbsp;&nbsp;&nbsp;1543661 |
| AutoNation, Inc. (A) | &nbsp;&nbsp;&nbsp;9732 | &nbsp;&nbsp;&nbsp;&nbsp;1933262 |
| Bath & Body Works, Inc. | &nbsp;&nbsp;83310 | &nbsp;&nbsp;&nbsp;&nbsp;2495968 |
| Burlington Stores, Inc. (A) | &nbsp;&nbsp;24636 | &nbsp;&nbsp;&nbsp;&nbsp;5731319 |
| Chewy, Inc., Class A (A) | &nbsp;&nbsp;86404 | &nbsp;&nbsp;&nbsp;&nbsp;3682538 |
| Dick's Sporting Goods, Inc. | &nbsp;&nbsp;22092 | &nbsp;&nbsp;&nbsp;&nbsp;4370019 |
| Five Below, Inc. (A) | &nbsp;&nbsp;21533 | &nbsp;&nbsp;&nbsp;&nbsp;2824699 |
| Floor & Decor Holdings, Inc., Class A (A) | &nbsp;&nbsp;42086 | &nbsp;&nbsp;&nbsp;&nbsp;3196853 |
| GameStop Corp., Class A (A)(B) | 159201 | &nbsp;&nbsp;&nbsp;&nbsp;3882912 |
| Lithia Motors, Inc. | &nbsp;&nbsp;10181 | &nbsp;&nbsp;&nbsp;&nbsp;3439345 |
| Murphy USA, Inc. | &nbsp;&nbsp;&nbsp;7034 | &nbsp;&nbsp;&nbsp;&nbsp;2861431 |
| Penske Automotive Group, Inc. | &nbsp;&nbsp;&nbsp;7246 | &nbsp;&nbsp;&nbsp;&nbsp;1244935 |
| RH (A) | &nbsp;&nbsp;&nbsp;5933 | &nbsp;&nbsp;&nbsp;&nbsp;1121396 |
| The Gap, Inc. | &nbsp;&nbsp;86904 | &nbsp;&nbsp;&nbsp;&nbsp;1895376 |
| Valvoline, Inc. (A) | &nbsp;&nbsp;49715 | &nbsp;&nbsp;&nbsp;&nbsp;1882707 |
|  |  | &nbsp;&nbsp;&nbsp;42106421 |
| **Textiles, apparel and luxury goods – 0.9%** | **Textiles, apparel and luxury goods – 0.9%** |  |
| Capri Holdings, Ltd. (A) | &nbsp;&nbsp;46116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;816253 |
| Columbia Sportswear Company | &nbsp;&nbsp;11990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;732349 |
| Crocs, Inc. (A) | &nbsp;&nbsp;21932 | &nbsp;&nbsp;&nbsp;&nbsp;2221273 |
| PVH Corp. | &nbsp;&nbsp;18771 | &nbsp;&nbsp;&nbsp;&nbsp;1287691 |
| Skechers USA, Inc., Class A (A) | &nbsp;&nbsp;50958 | &nbsp;&nbsp;&nbsp;&nbsp;3215450 |
| Under Armour, Inc., Class A (A) | &nbsp;&nbsp;73850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;504396 |
| Under Armour, Inc., Class C (A) | &nbsp;&nbsp;50097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325130 |
| VF Corp. | 129512 | &nbsp;&nbsp;&nbsp;&nbsp;1521766 |
|  |  | &nbsp;&nbsp;&nbsp;10624308 |
|  |  | 150676654 |
| **Consumer staples – 5.2%** |  |  |
| **Beverages – 0.5%** | **Beverages – 0.5%** |  |
| Celsius Holdings, Inc. (A) | &nbsp;&nbsp;61492 | &nbsp;&nbsp;&nbsp;&nbsp;2852614 |
| Coca-Cola Consolidated, Inc. | &nbsp;&nbsp;22927 | &nbsp;&nbsp;&nbsp;&nbsp;2559800 |
| The Boston Beer Company, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;3220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;614408 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;6026822 |
| **Consumer staples distribution and retail – 3.2%** | **Consumer staples distribution and retail – 3.2%** |  |
| Albertsons Companies, Inc., Class A | 157629 | &nbsp;&nbsp;&nbsp;&nbsp;3390600 |
| BJ's Wholesale Club Holdings, Inc. (A) | &nbsp;&nbsp;51647 | &nbsp;&nbsp;&nbsp;&nbsp;5569096 |
| Casey's General Stores, Inc. | &nbsp;&nbsp;14518 | &nbsp;&nbsp;&nbsp;&nbsp;7408100 |
| Maplebear, Inc. (A) | &nbsp;&nbsp;64246 | &nbsp;&nbsp;&nbsp;&nbsp;2906489 |
| Performance Food Group Company (A) | &nbsp;&nbsp;61050 | &nbsp;&nbsp;&nbsp;&nbsp;5340044 |
| Sprouts Farmers Market, Inc. (A) | &nbsp;&nbsp;38274 | &nbsp;&nbsp;&nbsp;&nbsp;6301431 |
| U.S. Foods Holding Corp. (A) | &nbsp;&nbsp;90484 | &nbsp;&nbsp;&nbsp;&nbsp;6968173 |
|  |  | &nbsp;&nbsp;&nbsp;37883933 |
| **Food products – 0.9%** | **Food products – 0.9%** |  |
| Darling Ingredients, Inc. (A) | &nbsp;&nbsp;61858 | &nbsp;&nbsp;&nbsp;&nbsp;2346893 |
| Flowers Foods, Inc. | &nbsp;&nbsp;76798 | &nbsp;&nbsp;&nbsp;&nbsp;1227232 |
| Ingredion, Inc. | &nbsp;&nbsp;25153 | &nbsp;&nbsp;&nbsp;&nbsp;3411250 |
| Lancaster Colony Corp. | &nbsp;&nbsp;&nbsp;7548 | &nbsp;&nbsp;&nbsp;&nbsp;1304068 |
| Pilgrim's Pride Corp. | &nbsp;&nbsp;15766 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;709155 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Food products (continued)** | **Food products (continued)** |  |
| Post Holdings, Inc. (A) | &nbsp;&nbsp;17652 | $&nbsp;&nbsp;&nbsp;1924598 |
|  |  | 10923196 |
| **Personal care products – 0.6%** | **Personal care products – 0.6%** |  |
| BellRing Brands, Inc. (A) | &nbsp;&nbsp;49670 | &nbsp;&nbsp;&nbsp;2877383 |
| Coty, Inc., Class A (A) | 143289 | &nbsp;&nbsp;&nbsp;&nbsp;666294 |
| e.l.f. Beauty, Inc. (A) | &nbsp;&nbsp;22058 | &nbsp;&nbsp;&nbsp;2744898 |
|  |  | &nbsp;&nbsp;&nbsp;6288575 |
|  |  | 61122526 |
| **Energy – 3.6%** |  |  |
| **Energy equipment and services – 0.5%** | **Energy equipment and services – 0.5%** |  |
| ChampionX Corp. | &nbsp;&nbsp;74874 | &nbsp;&nbsp;&nbsp;1859870 |
| NOV, Inc. | 146957 | &nbsp;&nbsp;&nbsp;1826676 |
| Valaris, Ltd. (A) | &nbsp;&nbsp;25572 | &nbsp;&nbsp;&nbsp;1076837 |
| Weatherford International PLC | &nbsp;&nbsp;28378 | &nbsp;&nbsp;&nbsp;1427697 |
|  |  | &nbsp;&nbsp;&nbsp;6191080 |
| **Oil, gas and consumable fuels – 3.1%** | **Oil, gas and consumable fuels – 3.1%** |  |
| Antero Midstream Corp. | 131200 | &nbsp;&nbsp;&nbsp;2486240 |
| Antero Resources Corp. (A) | 114164 | &nbsp;&nbsp;&nbsp;4598526 |
| Chord Energy Corp. | &nbsp;&nbsp;22589 | &nbsp;&nbsp;&nbsp;2187745 |
| Civitas Resources, Inc. | &nbsp;&nbsp;33313 | &nbsp;&nbsp;&nbsp;&nbsp;916774 |
| CNX Resources Corp. (A) | &nbsp;&nbsp;56603 | &nbsp;&nbsp;&nbsp;1906389 |
| DT Midstream, Inc. | &nbsp;&nbsp;39734 | &nbsp;&nbsp;&nbsp;4367164 |
| HF Sinclair Corp. | &nbsp;&nbsp;62637 | &nbsp;&nbsp;&nbsp;2573128 |
| Matador Resources Company | &nbsp;&nbsp;45541 | &nbsp;&nbsp;&nbsp;2173217 |
| Murphy Oil Corp. | &nbsp;&nbsp;52469 | &nbsp;&nbsp;&nbsp;1180553 |
| Ovintiv, Inc. | 101617 | &nbsp;&nbsp;&nbsp;3866527 |
| PBF Energy, Inc., Class A | &nbsp;&nbsp;38447 | &nbsp;&nbsp;&nbsp;&nbsp;833146 |
| Permian Resources Corp. | 249433 | &nbsp;&nbsp;&nbsp;3397277 |
| Range Resources Corp. | &nbsp;&nbsp;93466 | &nbsp;&nbsp;&nbsp;3801262 |
| Viper Energy, Inc. | &nbsp;&nbsp;51269 | &nbsp;&nbsp;&nbsp;1954887 |
|  |  | 36242835 |
|  |  | 42433915 |
| **Financials – 17.6%** |  |  |
| **Banks – 6.4%** | **Banks – 6.4%** |  |
| Associated Banc-Corp. | &nbsp;&nbsp;63884 | &nbsp;&nbsp;&nbsp;1558131 |
| Bank OZK | &nbsp;&nbsp;41322 | &nbsp;&nbsp;&nbsp;1944613 |
| Cadence Bank | &nbsp;&nbsp;72896 | &nbsp;&nbsp;&nbsp;2331214 |
| Columbia Banking System, Inc. | &nbsp;&nbsp;82214 | &nbsp;&nbsp;&nbsp;1922163 |
| Comerica, Inc. | &nbsp;&nbsp;51398 | &nbsp;&nbsp;&nbsp;3065891 |
| Commerce Bancshares, Inc. | &nbsp;&nbsp;47489 | &nbsp;&nbsp;&nbsp;2952391 |
| Cullen/Frost Bankers, Inc. | &nbsp;&nbsp;25144 | &nbsp;&nbsp;&nbsp;3232010 |
| East West Bancorp, Inc. | &nbsp;&nbsp;53905 | &nbsp;&nbsp;&nbsp;5443327 |
| First Financial Bankshares, Inc. | &nbsp;&nbsp;50354 | &nbsp;&nbsp;&nbsp;1811737 |
| First Horizon Corp. | 198386 | &nbsp;&nbsp;&nbsp;4205783 |
| Flagstar Financial, Inc. | 118511 | &nbsp;&nbsp;&nbsp;1256217 |
| FNB Corp. | 140726 | &nbsp;&nbsp;&nbsp;2051785 |
| Glacier Bancorp, Inc. | &nbsp;&nbsp;46300 | &nbsp;&nbsp;&nbsp;1994604 |
| Hancock Whitney Corp. | &nbsp;&nbsp;33496 | &nbsp;&nbsp;&nbsp;1922670 |
| Home BancShares, Inc. | &nbsp;&nbsp;71826 | &nbsp;&nbsp;&nbsp;2044168 |
| International Bancshares Corp. | &nbsp;&nbsp;20902 | &nbsp;&nbsp;&nbsp;1391237 |
| Old National Bancorp | 127322 | &nbsp;&nbsp;&nbsp;2717051 |
| Pinnacle Financial Partners, Inc. | &nbsp;&nbsp;30067 | &nbsp;&nbsp;&nbsp;3319697 |
| Prosperity Bancshares, Inc. | &nbsp;&nbsp;37267 | &nbsp;&nbsp;&nbsp;2617634 |
| SouthState Corp. | &nbsp;&nbsp;38505 | &nbsp;&nbsp;&nbsp;3543615 |
| Synovus Financial Corp. | &nbsp;&nbsp;54370 | &nbsp;&nbsp;&nbsp;2813648 |
| Texas Capital Bancshares, Inc. (A) | &nbsp;&nbsp;17953 | &nbsp;&nbsp;&nbsp;1425468 |
| UMB Financial Corp. | &nbsp;&nbsp;27911 | &nbsp;&nbsp;&nbsp;2935121 |
| United Bankshares, Inc. | &nbsp;&nbsp;55429 | &nbsp;&nbsp;&nbsp;2019278 |
| Valley National Bancorp | 186284 | &nbsp;&nbsp;&nbsp;1663516 |
| Webster Financial Corp. | &nbsp;&nbsp;65797 | &nbsp;&nbsp;&nbsp;3592516 |
| Western Alliance Bancorp | &nbsp;&nbsp;42633 | &nbsp;&nbsp;&nbsp;3324521 |
| Wintrust Financial Corp. | &nbsp;&nbsp;26177 | &nbsp;&nbsp;&nbsp;3245424 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 75 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Mid Cap Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Banks (continued)** | **Banks (continued)** |  |
| Zions Bancorp NA | &nbsp;&nbsp;57717 | $&nbsp;&nbsp;&nbsp;&nbsp;2997821 |
|  |  | &nbsp;&nbsp;&nbsp;75343251 |
| **Capital markets – 3.7%** | **Capital markets – 3.7%** |  |
| Affiliated Managers Group, Inc. | &nbsp;&nbsp;11119 | &nbsp;&nbsp;&nbsp;&nbsp;2187886 |
| Evercore, Inc., Class A | &nbsp;&nbsp;14062 | &nbsp;&nbsp;&nbsp;&nbsp;3797021 |
| Federated Hermes, Inc. | &nbsp;&nbsp;29512 | &nbsp;&nbsp;&nbsp;&nbsp;1307972 |
| Hamilton Lane, Inc., Class A | &nbsp;&nbsp;16950 | &nbsp;&nbsp;&nbsp;&nbsp;2408934 |
| Houlihan Lokey, Inc. | &nbsp;&nbsp;21038 | &nbsp;&nbsp;&nbsp;&nbsp;3785788 |
| Interactive Brokers Group, Inc., Class A | 170462 | &nbsp;&nbsp;&nbsp;&nbsp;9445291 |
| Janus Henderson Group PLC | &nbsp;&nbsp;49299 | &nbsp;&nbsp;&nbsp;&nbsp;1914773 |
| Jefferies Financial Group, Inc. | &nbsp;&nbsp;63729 | &nbsp;&nbsp;&nbsp;&nbsp;3485339 |
| Morningstar, Inc. | &nbsp;&nbsp;10410 | &nbsp;&nbsp;&nbsp;&nbsp;3268011 |
| SEI Investments Company | &nbsp;&nbsp;37003 | &nbsp;&nbsp;&nbsp;&nbsp;3325090 |
| Stifel Financial Corp. | &nbsp;&nbsp;40178 | &nbsp;&nbsp;&nbsp;&nbsp;4169673 |
| The Carlyle Group, Inc. | &nbsp;&nbsp;83335 | &nbsp;&nbsp;&nbsp;&nbsp;4283419 |
|  |  | &nbsp;&nbsp;&nbsp;43379197 |
| **Consumer finance – 0.7%** | **Consumer finance – 0.7%** |  |
| Ally Financial, Inc. | 108127 | &nbsp;&nbsp;&nbsp;&nbsp;4211547 |
| FirstCash Holdings, Inc. | &nbsp;&nbsp;15096 | &nbsp;&nbsp;&nbsp;&nbsp;2040073 |
| SLM Corp. | &nbsp;&nbsp;82078 | &nbsp;&nbsp;&nbsp;&nbsp;2691338 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;8942958 |
| **Financial services – 1.8%** | **Financial services – 1.8%** |  |
| Equitable Holdings, Inc. | 118857 | &nbsp;&nbsp;&nbsp;&nbsp;6667878 |
| Essent Group, Ltd. | &nbsp;&nbsp;39660 | &nbsp;&nbsp;&nbsp;&nbsp;2408552 |
| Euronet Worldwide, Inc. (A) | &nbsp;&nbsp;15899 | &nbsp;&nbsp;&nbsp;&nbsp;1611841 |
| MGIC Investment Corp. | &nbsp;&nbsp;92865 | &nbsp;&nbsp;&nbsp;&nbsp;2585362 |
| Shift4 Payments, Inc., Class A (A)(B) | &nbsp;&nbsp;26389 | &nbsp;&nbsp;&nbsp;&nbsp;2615414 |
| The Western Union Company | 129272 | &nbsp;&nbsp;&nbsp;&nbsp;1088470 |
| Voya Financial, Inc. | &nbsp;&nbsp;37662 | &nbsp;&nbsp;&nbsp;&nbsp;2674002 |
| WEX, Inc. (A) | &nbsp;&nbsp;13394 | &nbsp;&nbsp;&nbsp;&nbsp;1967445 |
|  |  | &nbsp;&nbsp;&nbsp;21618964 |
| **Insurance – 4.4%** | **Insurance – 4.4%** |  |
| American Financial Group, Inc. | &nbsp;&nbsp;28092 | &nbsp;&nbsp;&nbsp;&nbsp;3545491 |
| Brighthouse Financial, Inc. (A) | &nbsp;&nbsp;22453 | &nbsp;&nbsp;&nbsp;&nbsp;1207298 |
| CNO Financial Group, Inc. | &nbsp;&nbsp;38776 | &nbsp;&nbsp;&nbsp;&nbsp;1495978 |
| Fidelity National Financial, Inc. | 102045 | &nbsp;&nbsp;&nbsp;&nbsp;5720643 |
| First American Financial Corp. | &nbsp;&nbsp;40246 | &nbsp;&nbsp;&nbsp;&nbsp;2470702 |
| Kemper Corp. | &nbsp;&nbsp;23528 | &nbsp;&nbsp;&nbsp;&nbsp;1518497 |
| Kinsale Capital Group, Inc. | &nbsp;&nbsp;&nbsp;8661 | &nbsp;&nbsp;&nbsp;&nbsp;4191058 |
| Old Republic International Corp. | &nbsp;&nbsp;88936 | &nbsp;&nbsp;&nbsp;&nbsp;3418700 |
| Primerica, Inc. | &nbsp;&nbsp;12852 | &nbsp;&nbsp;&nbsp;&nbsp;3517207 |
| Reinsurance Group of America, Inc. | &nbsp;&nbsp;25847 | &nbsp;&nbsp;&nbsp;&nbsp;5127011 |
| RenaissanceRe Holdings, Ltd. | &nbsp;&nbsp;19028 | &nbsp;&nbsp;&nbsp;&nbsp;4621901 |
| RLI Corp. | &nbsp;&nbsp;32663 | &nbsp;&nbsp;&nbsp;&nbsp;2358922 |
| Ryan Specialty Holdings, Inc. | &nbsp;&nbsp;42102 | &nbsp;&nbsp;&nbsp;&nbsp;2862515 |
| Selective Insurance Group, Inc. | &nbsp;&nbsp;23770 | &nbsp;&nbsp;&nbsp;&nbsp;2059671 |
| The Hanover Insurance Group, Inc. | &nbsp;&nbsp;14047 | &nbsp;&nbsp;&nbsp;&nbsp;2386164 |
| Unum Group | &nbsp;&nbsp;62740 | &nbsp;&nbsp;&nbsp;&nbsp;5066882 |
|  |  | &nbsp;&nbsp;&nbsp;51568640 |
| **Mortgage real estate investment trusts – 0.6%** | **Mortgage real estate investment trusts – 0.6%** |  |
| Annaly Capital Management, Inc. | 236659 | &nbsp;&nbsp;&nbsp;&nbsp;4453922 |
| Starwood Property Trust, Inc. | 126127 | &nbsp;&nbsp;&nbsp;&nbsp;2531369 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;6985291 |
|  |  | 207838301 |
| **Health care – 8.3%** |  |  |
| **Biotechnology – 2.2%** | **Biotechnology – 2.2%** |  |
| BioMarin Pharmaceutical, Inc. (A) | &nbsp;&nbsp;75006 | &nbsp;&nbsp;&nbsp;&nbsp;4123080 |
| Cytokinetics, Inc. (A) | &nbsp;&nbsp;46710 | &nbsp;&nbsp;&nbsp;&nbsp;1543298 |
| Exelixis, Inc. (A) | 106660 | &nbsp;&nbsp;&nbsp;&nbsp;4701040 |
| Halozyme Therapeutics, Inc. (A) | &nbsp;&nbsp;48194 | &nbsp;&nbsp;&nbsp;&nbsp;2507052 |
| Neurocrine Biosciences, Inc. (A) | &nbsp;&nbsp;38707 | &nbsp;&nbsp;&nbsp;&nbsp;4865083 |
| Roivant Sciences, Ltd. (A) | 164657 | &nbsp;&nbsp;&nbsp;&nbsp;1855684 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Biotechnology (continued)** | **Biotechnology (continued)** |  |
| Sarepta Therapeutics, Inc. (A) | &nbsp;&nbsp;38438 | $&nbsp;&nbsp;&nbsp;&nbsp;657290 |
| United Therapeutics Corp. (A) | &nbsp;&nbsp;17642 | &nbsp;&nbsp;&nbsp;5069429 |
|  |  | 25321956 |
| **Health care equipment and supplies – 1.4%** | **Health care equipment and supplies – 1.4%** |  |
| Dentsply Sirona, Inc. | &nbsp;&nbsp;77946 | &nbsp;&nbsp;&nbsp;1237782 |
| Envista Holdings Corp. (A) | &nbsp;&nbsp;66289 | &nbsp;&nbsp;&nbsp;1295287 |
| Globus Medical, Inc., Class A (A) | &nbsp;&nbsp;44176 | &nbsp;&nbsp;&nbsp;2607268 |
| Haemonetics Corp. (A) | &nbsp;&nbsp;19648 | &nbsp;&nbsp;&nbsp;1465937 |
| Lantheus Holdings, Inc. (A) | &nbsp;&nbsp;27060 | &nbsp;&nbsp;&nbsp;2215132 |
| LivaNova PLC (A) | &nbsp;&nbsp;21326 | &nbsp;&nbsp;&nbsp;&nbsp;960097 |
| Masimo Corp. (A) | &nbsp;&nbsp;17601 | &nbsp;&nbsp;&nbsp;2960840 |
| Penumbra, Inc. (A) | &nbsp;&nbsp;15146 | &nbsp;&nbsp;&nbsp;3886918 |
|  |  | 16629261 |
| **Health care providers and services – 2.5%** | **Health care providers and services – 2.5%** |  |
| Acadia Healthcare Company, Inc. (A) | &nbsp;&nbsp;36030 | &nbsp;&nbsp;&nbsp;&nbsp;817521 |
| Amedisys, Inc. (A) | &nbsp;&nbsp;12809 | &nbsp;&nbsp;&nbsp;1260278 |
| Chemed Corp. | &nbsp;&nbsp;&nbsp;5722 | &nbsp;&nbsp;&nbsp;2786213 |
| Encompass Health Corp. | &nbsp;&nbsp;39423 | &nbsp;&nbsp;&nbsp;4834442 |
| HealthEquity, Inc. (A) | &nbsp;&nbsp;33883 | &nbsp;&nbsp;&nbsp;3549583 |
| Hims & Hers Health, Inc. (A)(B) | &nbsp;&nbsp;76683 | &nbsp;&nbsp;&nbsp;3822648 |
| Option Care Health, Inc. (A) | &nbsp;&nbsp;64044 | &nbsp;&nbsp;&nbsp;2080149 |
| Tenet Healthcare Corp. (A) | &nbsp;&nbsp;36329 | &nbsp;&nbsp;&nbsp;6393904 |
| The Ensign Group, Inc. | &nbsp;&nbsp;22321 | &nbsp;&nbsp;&nbsp;3443237 |
|  |  | 28987975 |
| **Health care technology – 0.3%** | **Health care technology – 0.3%** |  |
| Doximity, Inc., Class A (A) | &nbsp;&nbsp;52215 | &nbsp;&nbsp;&nbsp;3202868 |
| **Life sciences tools and services – 1.6%** | **Life sciences tools and services – 1.6%** |  |
| Avantor, Inc. (A) | 266517 | &nbsp;&nbsp;&nbsp;3587319 |
| Bio-Rad Laboratories, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;7274 | &nbsp;&nbsp;&nbsp;1755362 |
| Bruker Corp. | &nbsp;&nbsp;43264 | &nbsp;&nbsp;&nbsp;1782477 |
| Illumina, Inc. (A) | &nbsp;&nbsp;61913 | &nbsp;&nbsp;&nbsp;5907119 |
| Medpace Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;9218 | &nbsp;&nbsp;&nbsp;2893161 |
| Repligen Corp. (A) | &nbsp;&nbsp;20436 | &nbsp;&nbsp;&nbsp;2541830 |
| Sotera Health Company (A) | &nbsp;&nbsp;59950 | &nbsp;&nbsp;&nbsp;&nbsp;666644 |
|  |  | 19133912 |
| **Pharmaceuticals – 0.3%** | **Pharmaceuticals – 0.3%** |  |
| Jazz Pharmaceuticals PLC (A) | &nbsp;&nbsp;24106 | &nbsp;&nbsp;&nbsp;2558129 |
| Perrigo Company PLC | &nbsp;&nbsp;53769 | &nbsp;&nbsp;&nbsp;1436708 |
|  |  | &nbsp;&nbsp;&nbsp;3994837 |
|  |  | 97270809 |
| **Industrials – 22.0%** |  |  |
| **Aerospace and defense – 2.1%** | **Aerospace and defense – 2.1%** |  |
| ATI, Inc. (A) | &nbsp;&nbsp;55174 | &nbsp;&nbsp;&nbsp;4763723 |
| BWX Technologies, Inc. | &nbsp;&nbsp;35733 | &nbsp;&nbsp;&nbsp;5147696 |
| Curtiss-Wright Corp. | &nbsp;&nbsp;14741 | &nbsp;&nbsp;&nbsp;7201716 |
| Hexcel Corp. | &nbsp;&nbsp;31450 | &nbsp;&nbsp;&nbsp;1776611 |
| Woodward, Inc. | &nbsp;&nbsp;23272 | &nbsp;&nbsp;&nbsp;5703734 |
|  |  | 24593480 |
| **Air freight and logistics – 0.2%** | **Air freight and logistics – 0.2%** |  |
| GXO Logistics, Inc. (A) | &nbsp;&nbsp;44751 | &nbsp;&nbsp;&nbsp;2179374 |
| **Building products – 2.2%** | **Building products – 2.2%** |  |
| AAON, Inc. | &nbsp;&nbsp;26413 | &nbsp;&nbsp;&nbsp;1947959 |
| Advanced Drainage Systems, Inc. | &nbsp;&nbsp;27614 | &nbsp;&nbsp;&nbsp;3171744 |
| Carlisle Companies, Inc. | &nbsp;&nbsp;16878 | &nbsp;&nbsp;&nbsp;6302245 |
| Fortune Brands Innovations, Inc. | &nbsp;&nbsp;47036 | &nbsp;&nbsp;&nbsp;2421413 |
| Owens Corning | &nbsp;&nbsp;33265 | &nbsp;&nbsp;&nbsp;4574603 |
| Simpson Manufacturing Company, Inc. | &nbsp;&nbsp;16360 | &nbsp;&nbsp;&nbsp;2540872 |
| Trex Company, Inc. (A) | &nbsp;&nbsp;41938 | &nbsp;&nbsp;&nbsp;2280588 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 76 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Mid Cap Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Building products (continued)** | **Building products (continued)** |  |
| UFP Industries, Inc. | &nbsp;&nbsp;23621 | $&nbsp;&nbsp;&nbsp;2346983 |
|  |  | 25586407 |
| **Commercial services and supplies – 1.7%** | **Commercial services and supplies – 1.7%** |  |
| Clean Harbors, Inc. (A) | &nbsp;&nbsp;19699 | &nbsp;&nbsp;&nbsp;4554015 |
| MSA Safety, Inc. | &nbsp;&nbsp;15373 | &nbsp;&nbsp;&nbsp;2575439 |
| RB Global, Inc. | &nbsp;&nbsp;72431 | &nbsp;&nbsp;&nbsp;7691448 |
| Tetra Tech, Inc. | 103060 | &nbsp;&nbsp;&nbsp;3706038 |
| The Brink's Company | &nbsp;&nbsp;16427 | &nbsp;&nbsp;&nbsp;1466767 |
|  |  | 19993707 |
| **Construction and engineering – 3.2%** | **Construction and engineering – 3.2%** |  |
| AECOM | &nbsp;&nbsp;51745 | &nbsp;&nbsp;&nbsp;5839941 |
| API Group Corp. (A) | &nbsp;&nbsp;99238 | &nbsp;&nbsp;&nbsp;5066100 |
| Comfort Systems USA, Inc. | &nbsp;&nbsp;13766 | &nbsp;&nbsp;&nbsp;7381467 |
| EMCOR Group, Inc. | &nbsp;&nbsp;17506 | &nbsp;&nbsp;&nbsp;9363784 |
| Fluor Corp. (A) | &nbsp;&nbsp;64403 | &nbsp;&nbsp;&nbsp;3301942 |
| MasTec, Inc. (A) | &nbsp;&nbsp;23978 | &nbsp;&nbsp;&nbsp;4086571 |
| Valmont Industries, Inc. | &nbsp;&nbsp;&nbsp;7850 | &nbsp;&nbsp;&nbsp;2563575 |
|  |  | 37603380 |
| **Electrical equipment – 1.5%** | **Electrical equipment – 1.5%** |  |
| Acuity, Inc. | &nbsp;&nbsp;11970 | &nbsp;&nbsp;&nbsp;3571130 |
| EnerSys | &nbsp;&nbsp;15421 | &nbsp;&nbsp;&nbsp;1322659 |
| NEXTracker, Inc., Class A (A) | &nbsp;&nbsp;56207 | &nbsp;&nbsp;&nbsp;3055975 |
| nVent Electric PLC | &nbsp;&nbsp;64392 | &nbsp;&nbsp;&nbsp;4716714 |
| Regal Rexnord Corp. | &nbsp;&nbsp;25945 | &nbsp;&nbsp;&nbsp;3760987 |
| Sensata Technologies Holding PLC | &nbsp;&nbsp;57216 | &nbsp;&nbsp;&nbsp;1722774 |
|  |  | 18150239 |
| **Ground transportation – 1.4%** | **Ground transportation – 1.4%** |  |
| Avis Budget Group, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;6607 | &nbsp;&nbsp;&nbsp;1116913 |
| Knight-Swift Transportation Holdings, Inc. | &nbsp;&nbsp;63380 | &nbsp;&nbsp;&nbsp;2803297 |
| Landstar System, Inc. | &nbsp;&nbsp;13668 | &nbsp;&nbsp;&nbsp;1900125 |
| Ryder System, Inc. | &nbsp;&nbsp;16169 | &nbsp;&nbsp;&nbsp;2570871 |
| Saia, Inc. (A) | &nbsp;&nbsp;10417 | &nbsp;&nbsp;&nbsp;2854154 |
| XPO, Inc. (A) | &nbsp;&nbsp;46076 | &nbsp;&nbsp;&nbsp;5818938 |
|  |  | 17064298 |
| **Machinery – 5.1%** | **Machinery – 5.1%** |  |
| AGCO Corp. | &nbsp;&nbsp;24211 | &nbsp;&nbsp;&nbsp;2497607 |
| Chart Industries, Inc. (A) | &nbsp;&nbsp;17575 | &nbsp;&nbsp;&nbsp;2893724 |
| CNH Industrial NV | 342069 | &nbsp;&nbsp;&nbsp;4433214 |
| Crane Company | &nbsp;&nbsp;19115 | &nbsp;&nbsp;&nbsp;3629747 |
| Donaldson Company, Inc. | &nbsp;&nbsp;46745 | &nbsp;&nbsp;&nbsp;3241766 |
| Esab Corp. | &nbsp;&nbsp;22288 | &nbsp;&nbsp;&nbsp;2686818 |
| Flowserve Corp. | &nbsp;&nbsp;51130 | &nbsp;&nbsp;&nbsp;2676656 |
| Graco, Inc. | &nbsp;&nbsp;65368 | &nbsp;&nbsp;&nbsp;5619687 |
| ITT, Inc. | &nbsp;&nbsp;30781 | &nbsp;&nbsp;&nbsp;4827384 |
| Lincoln Electric Holdings, Inc. | &nbsp;&nbsp;21834 | &nbsp;&nbsp;&nbsp;4526625 |
| Mueller Industries, Inc. | &nbsp;&nbsp;43277 | &nbsp;&nbsp;&nbsp;3439223 |
| Oshkosh Corp. | &nbsp;&nbsp;25177 | &nbsp;&nbsp;&nbsp;2858597 |
| RBC Bearings, Inc. (A) | &nbsp;&nbsp;12260 | &nbsp;&nbsp;&nbsp;4717648 |
| Terex Corp. | &nbsp;&nbsp;25657 | &nbsp;&nbsp;&nbsp;1197925 |
| The Middleby Corp. (A) | &nbsp;&nbsp;20918 | &nbsp;&nbsp;&nbsp;3012192 |
| The Timken Company | &nbsp;&nbsp;24901 | &nbsp;&nbsp;&nbsp;1806568 |
| The Toro Company | &nbsp;&nbsp;39041 | &nbsp;&nbsp;&nbsp;2759418 |
| Watts Water Technologies, Inc., Class A | &nbsp;&nbsp;10725 | &nbsp;&nbsp;&nbsp;2637170 |
|  |  | 59461969 |
| **Marine transportation – 0.2%** | **Marine transportation – 0.2%** |  |
| Kirby Corp. (A) | &nbsp;&nbsp;21942 | &nbsp;&nbsp;&nbsp;2488442 |
| **Passenger airlines – 0.4%** | **Passenger airlines – 0.4%** |  |
| Alaska Air Group, Inc. (A) | &nbsp;&nbsp;47479 | &nbsp;&nbsp;&nbsp;2349261 |
| American Airlines Group, Inc. (A) | 257945 | &nbsp;&nbsp;&nbsp;2894143 |
|  |  | &nbsp;&nbsp;&nbsp;5243404 |
| **Professional services – 2.2%** | **Professional services – 2.2%** |  |
| CACI International, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;8601 | &nbsp;&nbsp;&nbsp;4100097 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Professional services (continued)** | **Professional services (continued)** |  |
| Concentrix Corp. | &nbsp;&nbsp;17990 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;950861 |
| ExlService Holdings, Inc. (A) | &nbsp;&nbsp;63632 | &nbsp;&nbsp;&nbsp;&nbsp;2786445 |
| Exponent, Inc. | &nbsp;&nbsp;19849 | &nbsp;&nbsp;&nbsp;&nbsp;1482919 |
| FTI Consulting, Inc. (A) | &nbsp;&nbsp;13171 | &nbsp;&nbsp;&nbsp;&nbsp;2127117 |
| Genpact, Ltd. | &nbsp;&nbsp;62924 | &nbsp;&nbsp;&nbsp;&nbsp;2769285 |
| Insperity, Inc. | &nbsp;&nbsp;13981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;840538 |
| KBR, Inc. | &nbsp;&nbsp;50742 | &nbsp;&nbsp;&nbsp;&nbsp;2432571 |
| ManpowerGroup, Inc. | &nbsp;&nbsp;18102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;731321 |
| Maximus, Inc. | &nbsp;&nbsp;22039 | &nbsp;&nbsp;&nbsp;&nbsp;1547138 |
| Parsons Corp. (A) | &nbsp;&nbsp;18392 | &nbsp;&nbsp;&nbsp;&nbsp;1319994 |
| Paylocity Holding Corp. (A) | &nbsp;&nbsp;16849 | &nbsp;&nbsp;&nbsp;&nbsp;3052870 |
| Science Applications International Corp. | &nbsp;&nbsp;18448 | &nbsp;&nbsp;&nbsp;&nbsp;2077429 |
|  |  | &nbsp;&nbsp;&nbsp;26218585 |
| **Trading companies and distributors – 1.8%** | **Trading companies and distributors – 1.8%** |  |
| Applied Industrial Technologies, Inc. | &nbsp;&nbsp;14896 | &nbsp;&nbsp;&nbsp;&nbsp;3462575 |
| Core & Main, Inc., Class A (A) | &nbsp;&nbsp;74079 | &nbsp;&nbsp;&nbsp;&nbsp;4470668 |
| GATX Corp. | &nbsp;&nbsp;13963 | &nbsp;&nbsp;&nbsp;&nbsp;2144158 |
| MSC Industrial Direct Company, Inc., Class A | &nbsp;&nbsp;17435 | &nbsp;&nbsp;&nbsp;&nbsp;1482324 |
| Watsco, Inc. | &nbsp;&nbsp;13644 | &nbsp;&nbsp;&nbsp;&nbsp;6025463 |
| WESCO International, Inc. | &nbsp;&nbsp;17370 | &nbsp;&nbsp;&nbsp;&nbsp;3216924 |
|  |  | &nbsp;&nbsp;&nbsp;20802112 |
|  |  | 259385397 |
| **Information technology – 11.3%** |  |  |
| **Communications equipment – 0.6%** | **Communications equipment – 0.6%** |  |
| Ciena Corp. (A) | &nbsp;&nbsp;55595 | &nbsp;&nbsp;&nbsp;&nbsp;4521541 |
| Lumentum Holdings, Inc. (A) | &nbsp;&nbsp;27143 | &nbsp;&nbsp;&nbsp;&nbsp;2580214 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;7101755 |
| **Electronic equipment, instruments and components – 3.1%** | **Electronic equipment, instruments and components – 3.1%** |  |
| Arrow Electronics, Inc. (A) | &nbsp;&nbsp;20289 | &nbsp;&nbsp;&nbsp;&nbsp;2585427 |
| Avnet, Inc. | &nbsp;&nbsp;32798 | &nbsp;&nbsp;&nbsp;&nbsp;1740918 |
| Belden, Inc. | &nbsp;&nbsp;15448 | &nbsp;&nbsp;&nbsp;&nbsp;1788878 |
| Cognex Corp. | &nbsp;&nbsp;65654 | &nbsp;&nbsp;&nbsp;&nbsp;2082545 |
| Coherent Corp. (A) | &nbsp;&nbsp;60795 | &nbsp;&nbsp;&nbsp;&nbsp;5423522 |
| Crane NXT Company | &nbsp;&nbsp;19295 | &nbsp;&nbsp;&nbsp;&nbsp;1040001 |
| Fabrinet (A) | &nbsp;&nbsp;14014 | &nbsp;&nbsp;&nbsp;&nbsp;4129646 |
| Flex, Ltd. (A) | 149837 | &nbsp;&nbsp;&nbsp;&nbsp;7479863 |
| IPG Photonics Corp. (A) | &nbsp;&nbsp;10314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;708056 |
| Littelfuse, Inc. | &nbsp;&nbsp;&nbsp;9666 | &nbsp;&nbsp;&nbsp;&nbsp;2191572 |
| Novanta, Inc. (A) | &nbsp;&nbsp;14069 | &nbsp;&nbsp;&nbsp;&nbsp;1813916 |
| TD SYNNEX Corp. | &nbsp;&nbsp;29212 | &nbsp;&nbsp;&nbsp;&nbsp;3964068 |
| Vontier Corp. | &nbsp;&nbsp;57846 | &nbsp;&nbsp;&nbsp;&nbsp;2134517 |
|  |  | &nbsp;&nbsp;&nbsp;37082929 |
| **IT services – 1.0%** | **IT services – 1.0%** |  |
| ASGN, Inc. (A) | &nbsp;&nbsp;17131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;855351 |
| Kyndryl Holdings, Inc. (A) | &nbsp;&nbsp;91010 | &nbsp;&nbsp;&nbsp;&nbsp;3818780 |
| Okta, Inc. (A) | &nbsp;&nbsp;65379 | &nbsp;&nbsp;&nbsp;&nbsp;6535939 |
|  |  | &nbsp;&nbsp;&nbsp;11210070 |
| **Semiconductors and semiconductor equipment – 2.5%** | **Semiconductors and semiconductor equipment – 2.5%** |  |
| Allegro MicroSystems, Inc. (A) | &nbsp;&nbsp;51130 | &nbsp;&nbsp;&nbsp;&nbsp;1748135 |
| Amkor Technology, Inc. | &nbsp;&nbsp;44449 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;932985 |
| Cirrus Logic, Inc. (A) | &nbsp;&nbsp;20786 | &nbsp;&nbsp;&nbsp;&nbsp;2167044 |
| Entegris, Inc. | &nbsp;&nbsp;59215 | &nbsp;&nbsp;&nbsp;&nbsp;4775690 |
| Lattice Semiconductor Corp. (A) | &nbsp;&nbsp;53781 | &nbsp;&nbsp;&nbsp;&nbsp;2634731 |
| MACOM Technology Solutions Holdings, Inc. (A) | &nbsp;&nbsp;23276 | &nbsp;&nbsp;&nbsp;&nbsp;3335218 |
| MKS, Inc. | &nbsp;&nbsp;26233 | &nbsp;&nbsp;&nbsp;&nbsp;2606511 |
| Onto Innovation, Inc. (A) | &nbsp;&nbsp;19115 | &nbsp;&nbsp;&nbsp;&nbsp;1929277 |
| Power Integrations, Inc. | &nbsp;&nbsp;22016 | &nbsp;&nbsp;&nbsp;&nbsp;1230694 |
| Rambus, Inc. (A) | &nbsp;&nbsp;42010 | &nbsp;&nbsp;&nbsp;&nbsp;2689480 |
| Silicon Laboratories, Inc. (A) | &nbsp;&nbsp;12739 | &nbsp;&nbsp;&nbsp;&nbsp;1877219 |
| Synaptics, Inc. (A) | &nbsp;&nbsp;15076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;977226 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 77 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Mid Cap Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Semiconductors and semiconductor equipment (continued)** | **Semiconductors and semiconductor equipment (continued)** |  |
| Universal Display Corp. | &nbsp;&nbsp;17287 | $&nbsp;&nbsp;&nbsp;&nbsp;2670150 |
|  |  | &nbsp;&nbsp;&nbsp;29574360 |
| **Software – 3.5%** | **Software – 3.5%** |  |
| Appfolio, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;9014 | &nbsp;&nbsp;&nbsp;&nbsp;2075744 |
| BILL Holdings, Inc. (A) | &nbsp;&nbsp;37072 | &nbsp;&nbsp;&nbsp;&nbsp;1714951 |
| Blackbaud, Inc. (A) | &nbsp;&nbsp;14739 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;946391 |
| CommVault Systems, Inc. (A) | &nbsp;&nbsp;17258 | &nbsp;&nbsp;&nbsp;&nbsp;3008587 |
| DocuSign, Inc. (A) | &nbsp;&nbsp;79202 | &nbsp;&nbsp;&nbsp;&nbsp;6169044 |
| Dolby Laboratories, Inc., Class A | &nbsp;&nbsp;24017 | &nbsp;&nbsp;&nbsp;&nbsp;1783502 |
| Dropbox, Inc., Class A (A) | &nbsp;&nbsp;76742 | &nbsp;&nbsp;&nbsp;&nbsp;2194821 |
| Dynatrace, Inc. (A) | 117261 | &nbsp;&nbsp;&nbsp;&nbsp;6473980 |
| Guidewire Software, Inc. (A) | &nbsp;&nbsp;32807 | &nbsp;&nbsp;&nbsp;&nbsp;7724408 |
| Manhattan Associates, Inc. (A) | &nbsp;&nbsp;23747 | &nbsp;&nbsp;&nbsp;&nbsp;4689320 |
| Pegasystems, Inc. | &nbsp;&nbsp;34812 | &nbsp;&nbsp;&nbsp;&nbsp;1884374 |
| Qualys, Inc. (A) | &nbsp;&nbsp;14208 | &nbsp;&nbsp;&nbsp;&nbsp;2029897 |
|  |  | &nbsp;&nbsp;&nbsp;40695019 |
| **Technology hardware, storage and peripherals – 0.6%** | **Technology hardware, storage and peripherals – 0.6%** |  |
| Pure Storage, Inc., Class A (A) | 121553 | &nbsp;&nbsp;&nbsp;&nbsp;6999022 |
|  |  | 132663155 |
| **Materials – 5.2%** |  |  |
| **Chemicals – 1.4%** | **Chemicals – 1.4%** |  |
| Ashland, Inc. | &nbsp;&nbsp;17872 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;898604 |
| Avient Corp. | &nbsp;&nbsp;35800 | &nbsp;&nbsp;&nbsp;&nbsp;1156698 |
| Axalta Coating Systems, Ltd. (A) | &nbsp;&nbsp;85481 | &nbsp;&nbsp;&nbsp;&nbsp;2537931 |
| Cabot Corp. | &nbsp;&nbsp;21012 | &nbsp;&nbsp;&nbsp;&nbsp;1575900 |
| NewMarket Corp. | &nbsp;&nbsp;&nbsp;2952 | &nbsp;&nbsp;&nbsp;&nbsp;2039419 |
| Olin Corp. | &nbsp;&nbsp;45031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;904673 |
| RPM International, Inc. | &nbsp;&nbsp;50228 | &nbsp;&nbsp;&nbsp;&nbsp;5517044 |
| The Scotts Miracle-Gro Company | &nbsp;&nbsp;16930 | &nbsp;&nbsp;&nbsp;&nbsp;1116703 |
| Westlake Corp. | &nbsp;&nbsp;13041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;990203 |
|  |  | &nbsp;&nbsp;&nbsp;16737175 |
| **Construction materials – 0.4%** | **Construction materials – 0.4%** |  |
| Eagle Materials, Inc. | &nbsp;&nbsp;13019 | &nbsp;&nbsp;&nbsp;&nbsp;2631270 |
| Knife River Corp. (A) | &nbsp;&nbsp;22157 | &nbsp;&nbsp;&nbsp;&nbsp;1808897 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;4440167 |
| **Containers and packaging – 1.3%** | **Containers and packaging – 1.3%** |  |
| AptarGroup, Inc. | &nbsp;&nbsp;25830 | &nbsp;&nbsp;&nbsp;&nbsp;4040587 |
| Crown Holdings, Inc. | &nbsp;&nbsp;45002 | &nbsp;&nbsp;&nbsp;&nbsp;4634306 |
| Graphic Packaging Holding Company | 118021 | &nbsp;&nbsp;&nbsp;&nbsp;2486702 |
| Greif, Inc., Class A | &nbsp;&nbsp;10210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;663548 |
| Silgan Holdings, Inc. | &nbsp;&nbsp;31803 | &nbsp;&nbsp;&nbsp;&nbsp;1723087 |
| Sonoco Products Company | &nbsp;&nbsp;38575 | &nbsp;&nbsp;&nbsp;&nbsp;1680327 |
|  |  | &nbsp;&nbsp;&nbsp;15228557 |
| **Metals and mining – 1.9%** | **Metals and mining – 1.9%** |  |
| Alcoa Corp. | 101254 | &nbsp;&nbsp;&nbsp;&nbsp;2988006 |
| Carpenter Technology Corp. | &nbsp;&nbsp;19469 | &nbsp;&nbsp;&nbsp;&nbsp;5380842 |
| Cleveland-Cliffs, Inc. (A) | 189598 | &nbsp;&nbsp;&nbsp;&nbsp;1440945 |
| Commercial Metals Company | &nbsp;&nbsp;44196 | &nbsp;&nbsp;&nbsp;&nbsp;2161626 |
| Reliance, Inc. | &nbsp;&nbsp;20568 | &nbsp;&nbsp;&nbsp;&nbsp;6456295 |
| Royal Gold, Inc. | &nbsp;&nbsp;25742 | &nbsp;&nbsp;&nbsp;&nbsp;4577957 |
|  |  | &nbsp;&nbsp;&nbsp;23005671 |
| **Paper and forest products – 0.2%** | **Paper and forest products – 0.2%** |  |
| Louisiana-Pacific Corp. | &nbsp;&nbsp;24223 | &nbsp;&nbsp;&nbsp;&nbsp;2082936 |
|  |  | &nbsp;&nbsp;&nbsp;61494506 |
| **Real estate – 6.6%** |  |  |
| **Diversified REITs – 0.4%** | **Diversified REITs – 0.4%** |  |
| WP Carey, Inc. | &nbsp;&nbsp;85645 | &nbsp;&nbsp;&nbsp;&nbsp;5342535 |
| **Health care REITs – 0.7%** | **Health care REITs – 0.7%** |  |
| Healthcare Realty Trust, Inc. | 137447 | &nbsp;&nbsp;&nbsp;&nbsp;2179909 |
| Omega Healthcare Investors, Inc. | 113187 | &nbsp;&nbsp;&nbsp;&nbsp;4148304 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Health care REITs (continued)** | **Health care REITs (continued)** |  |
| Sabra Health Care REIT, Inc. | &nbsp;&nbsp;93060 | $&nbsp;&nbsp;&nbsp;1716026 |
|  |  | &nbsp;&nbsp;&nbsp;8044239 |
| **Hotel and resort REITs – 0.1%** | **Hotel and resort REITs – 0.1%** |  |
| Park Hotels & Resorts, Inc. | &nbsp;&nbsp;78181 | &nbsp;&nbsp;&nbsp;&nbsp;799792 |
| **Industrial REITs – 1.0%** | **Industrial REITs – 1.0%** |  |
| EastGroup Properties, Inc. | &nbsp;&nbsp;20511 | &nbsp;&nbsp;&nbsp;3427798 |
| First Industrial Realty Trust, Inc. | &nbsp;&nbsp;51783 | &nbsp;&nbsp;&nbsp;2492316 |
| Rexford Industrial Realty, Inc. | &nbsp;&nbsp;92353 | &nbsp;&nbsp;&nbsp;3284996 |
| STAG Industrial, Inc. | &nbsp;&nbsp;72989 | &nbsp;&nbsp;&nbsp;2648041 |
|  |  | 11853151 |
| **Office REITs – 0.6%** | **Office REITs – 0.6%** |  |
| COPT Defense Properties | &nbsp;&nbsp;44057 | &nbsp;&nbsp;&nbsp;1215092 |
| Cousins Properties, Inc. | &nbsp;&nbsp;65673 | &nbsp;&nbsp;&nbsp;1972160 |
| Kilroy Realty Corp. | &nbsp;&nbsp;41635 | &nbsp;&nbsp;&nbsp;1428497 |
| Vornado Realty Trust | &nbsp;&nbsp;65314 | &nbsp;&nbsp;&nbsp;2497607 |
|  |  | &nbsp;&nbsp;&nbsp;7113356 |
| **Real estate management and development – 0.4%** | **Real estate management and development – 0.4%** |  |
| Jones Lang LaSalle, Inc. (A) | &nbsp;&nbsp;18568 | &nbsp;&nbsp;&nbsp;4749323 |
| **Residential REITs – 0.9%** | **Residential REITs – 0.9%** |  |
| American Homes 4 Rent, Class A | 124293 | &nbsp;&nbsp;&nbsp;4483249 |
| Equity LifeStyle Properties, Inc. | &nbsp;&nbsp;74777 | &nbsp;&nbsp;&nbsp;4611498 |
| Independence Realty Trust, Inc. | &nbsp;&nbsp;91282 | &nbsp;&nbsp;&nbsp;1614779 |
|  |  | 10709526 |
| **Retail REITs – 1.0%** | **Retail REITs – 1.0%** |  |
| Agree Realty Corp. | &nbsp;&nbsp;42947 | &nbsp;&nbsp;&nbsp;3137708 |
| Brixmor Property Group, Inc. | 119704 | &nbsp;&nbsp;&nbsp;3117092 |
| Kite Realty Group Trust | &nbsp;&nbsp;85973 | &nbsp;&nbsp;&nbsp;1947288 |
| NNN REIT, Inc. | &nbsp;&nbsp;73510 | &nbsp;&nbsp;&nbsp;3174162 |
|  |  | 11376250 |
| **Specialized REITs – 1.5%** | **Specialized REITs – 1.5%** |  |
| CubeSmart | &nbsp;&nbsp;89156 | &nbsp;&nbsp;&nbsp;3789130 |
| EPR Properties | &nbsp;&nbsp;29752 | &nbsp;&nbsp;&nbsp;1733352 |
| Gaming and Leisure Properties, Inc. | 107491 | &nbsp;&nbsp;&nbsp;5017680 |
| Lamar Advertising Company, Class A | &nbsp;&nbsp;34406 | &nbsp;&nbsp;&nbsp;4175512 |
| National Storage Affiliates Trust | &nbsp;&nbsp;27515 | &nbsp;&nbsp;&nbsp;&nbsp;880205 |
| PotlatchDeltic Corp. | &nbsp;&nbsp;27974 | &nbsp;&nbsp;&nbsp;1073362 |
| Rayonier, Inc. | &nbsp;&nbsp;54834 | &nbsp;&nbsp;&nbsp;1216218 |
|  |  | 17885459 |
|  |  | 77873631 |
| **Utilities – 2.8%** |  |  |
| **Electric utilities – 1.0%** | **Electric utilities – 1.0%** |  |
| ALLETE, Inc. | &nbsp;&nbsp;22646 | &nbsp;&nbsp;&nbsp;1450929 |
| IDACORP, Inc. | &nbsp;&nbsp;21128 | &nbsp;&nbsp;&nbsp;2439228 |
| OGE Energy Corp. | &nbsp;&nbsp;78743 | &nbsp;&nbsp;&nbsp;3494614 |
| Portland General Electric Company | &nbsp;&nbsp;42833 | &nbsp;&nbsp;&nbsp;1740305 |
| TXNM Energy, Inc. | &nbsp;&nbsp;36240 | &nbsp;&nbsp;&nbsp;2041037 |
|  |  | 11166113 |
| **Gas utilities – 1.1%** | **Gas utilities – 1.1%** |  |
| National Fuel Gas Company | &nbsp;&nbsp;35338 | &nbsp;&nbsp;&nbsp;2993482 |
| New Jersey Resources Corp. | &nbsp;&nbsp;39256 | &nbsp;&nbsp;&nbsp;1759454 |
| ONE Gas, Inc. | &nbsp;&nbsp;23440 | &nbsp;&nbsp;&nbsp;1684398 |
| Southwest Gas Holdings, Inc. | &nbsp;&nbsp;23626 | &nbsp;&nbsp;&nbsp;1757538 |
| Spire, Inc. | &nbsp;&nbsp;23082 | &nbsp;&nbsp;&nbsp;1684755 |
| UGI Corp. | &nbsp;&nbsp;83871 | &nbsp;&nbsp;&nbsp;3054582 |
|  |  | 12934209 |
| **Independent power and renewable electricity producers –<br> 0.2%** | **Independent power and renewable electricity producers –<br> 0.2%** |  |
| Ormat Technologies, Inc. | &nbsp;&nbsp;22540 | &nbsp;&nbsp;&nbsp;1887950 |
| **Multi-utilities – 0.2%** | **Multi-utilities – 0.2%** |  |
| Black Hills Corp. | &nbsp;&nbsp;28360 | &nbsp;&nbsp;&nbsp;1590996 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 78 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Mid Cap Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Multi-utilities (continued)** | **Multi-utilities (continued)** |  |
| Northwestern Energy Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;24007 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1231559 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2822555 |
| **Water utilities – 0.3%** | **Water utilities – 0.3%** |  |
| Essential Utilities, Inc. | &nbsp;&nbsp;100873 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3746423 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;32557250 |
| TOTAL COMMON STOCKS (Cost $869,035,527) | TOTAL COMMON STOCKS (Cost $869,035,527) | $1137269475 |
| **SHORT-TERM INVESTMENTS – 4.2%** | **SHORT-TERM INVESTMENTS – 4.2%** |  |
| **Short-term funds – 4.2%** |  |  |
| John Hancock Collateral Trust, 4.2596% (C)(D) | 4906251 | &nbsp;&nbsp;&nbsp;&nbsp;49074281 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $49,074,631) | TOTAL SHORT-TERM INVESTMENTS (Cost $49,074,631) | $&nbsp;&nbsp;&nbsp;&nbsp;49074281 |
| **Total Investments (Mid Cap Index Trust)<br> (Cost $918,110,158) – 100.8%** | **Total Investments (Mid Cap Index Trust)<br> (Cost $918,110,158) – 100.8%** | $**1186343756** |
| **Other assets and liabilities, net – (0.8%)** | **Other assets and liabilities, net – (0.8%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(9118542)** |
| **TOTAL NET ASSETS – 100.0%** | **TOTAL NET ASSETS – 100.0%** | $**1177225214** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| (A) | Non-income producing security. |
| (B) | All or a portion of this security is on loan as of 6-30-25. |
| (C) | The rate shown is the annualized seven-day yield as of 6-30-25. |
| (D) | Investment is an affiliate of the fund, the advisor and/or subadvisor. A portion of this security represents the investment of cash collateral received for securities lending. Market value of this investment amounted to $12,568,533. |

---

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| S&P Mid 400 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;131 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;$40019714 | &nbsp;&nbsp;&nbsp;&nbsp;$40944050 | &nbsp;&nbsp;&nbsp;&nbsp;$924336 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$924336** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

See Notes to financial statements regarding investment transactions and other derivatives information.

#### Mid Value Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS – 98.0%** | **COMMON STOCKS – 98.0%** |  |
| **Communication services – 2.0%** |  |  |
| **Interactive media and services – 1.1%** | **Interactive media and services – 1.1%** |  |
| Pinterest, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176500 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6329290 |
| **Media – 0.9%** | **Media – 0.9%** |  |
| Charter Communications, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3106956 |
| Liberty Broadband Corp., Series C (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2229192 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5336148 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11665438 |
| **Consumer discretionary – 6.3%** |  |  |
| **Hotels, restaurants and leisure – 1.1%** | **Hotels, restaurants and leisure – 1.1%** |  |
| Aramark | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3157500 |
| Compass Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3129465 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6286965 |
| **Household durables – 1.2%** | **Household durables – 1.2%** |  |
| Installed Building Products, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3119536 |
| PulteGroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3648916 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6768452 |
| **Specialty retail – 2.1%** | **Specialty retail – 2.1%** |  |
| Advance Auto Parts, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162592 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7558902 |
| Bath & Body Works, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1665027 |

---

#### Mid Value Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Specialty retail (continued)** | **Specialty retail (continued)** |  |
| Burlington Stores, Inc. (A) | &nbsp;&nbsp;13225 | $&nbsp;&nbsp;&nbsp;3076664 |
|  |  | 12300593 |
| **Textiles, apparel and luxury goods – 1.9%** | **Textiles, apparel and luxury goods – 1.9%** |  |
| Puma SE | 129660 | &nbsp;&nbsp;&nbsp;3543851 |
| Ralph Lauren Corp. | &nbsp;&nbsp;17249 | &nbsp;&nbsp;&nbsp;4731056 |
| VF Corp. | 255460 | &nbsp;&nbsp;&nbsp;3001655 |
|  |  | 11276562 |
|  |  | 36632572 |
| **Consumer staples – 3.9%** |  |  |
| **Food products – 2.4%** | **Food products – 2.4%** |  |
| Flowers Foods, Inc. | 180662 | &nbsp;&nbsp;&nbsp;2886979 |
| Lamb Weston Holdings, Inc. | 141100 | &nbsp;&nbsp;&nbsp;7316035 |
| Tyson Foods, Inc., Class A | &nbsp;&nbsp;70669 | &nbsp;&nbsp;&nbsp;3953224 |
|  |  | 14156238 |
| **Personal care products – 1.5%** | **Personal care products – 1.5%** |  |
| Kenvue, Inc. | 408157 | &nbsp;&nbsp;&nbsp;8542726 |
|  |  | 22698964 |
| **Energy – 7.3%** |  |  |
| **Energy equipment and services – 2.1%** | **Energy equipment and services – 2.1%** |  |
| Baker Hughes Company | &nbsp;&nbsp;63986 | &nbsp;&nbsp;&nbsp;2453223 |
| TechnipFMC PLC | 154230 | &nbsp;&nbsp;&nbsp;5311681 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 79 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Mid Value Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Energy equipment and services (continued)** | **Energy equipment and services (continued)** |  |
| Tidewater, Inc. (A) | &nbsp;&nbsp;92472 | $&nbsp;&nbsp;&nbsp;&nbsp;4265733 |
|  |  | &nbsp;&nbsp;&nbsp;12030637 |
| **Oil, gas and consumable fuels – 5.2%** | **Oil, gas and consumable fuels – 5.2%** |  |
| Expand Energy Corp. | &nbsp;&nbsp;72528 | &nbsp;&nbsp;&nbsp;&nbsp;8481424 |
| Marathon Petroleum Corp. | &nbsp;&nbsp;32212 | &nbsp;&nbsp;&nbsp;&nbsp;5350735 |
| Permian Resources Corp. | 244000 | &nbsp;&nbsp;&nbsp;&nbsp;3323280 |
| Phillips 66 | &nbsp;&nbsp;45800 | &nbsp;&nbsp;&nbsp;&nbsp;5463940 |
| South Bow Corp. (B) | 109700 | &nbsp;&nbsp;&nbsp;&nbsp;2847729 |
| Viper Energy, Inc. | 119068 | &nbsp;&nbsp;&nbsp;&nbsp;4540063 |
|  |  | &nbsp;&nbsp;&nbsp;30007171 |
|  |  | &nbsp;&nbsp;&nbsp;42037808 |
| **Financials – 20.1%** |  |  |
| **Banks – 5.0%** | **Banks – 5.0%** |  |
| Fifth Third Bancorp | 158855 | &nbsp;&nbsp;&nbsp;&nbsp;6533706 |
| KeyCorp | 271563 | &nbsp;&nbsp;&nbsp;&nbsp;4730627 |
| Popular, Inc. | &nbsp;&nbsp;68266 | &nbsp;&nbsp;&nbsp;&nbsp;7523596 |
| Webster Financial Corp. | &nbsp;&nbsp;75775 | &nbsp;&nbsp;&nbsp;&nbsp;4137315 |
| Western Alliance Bancorp | &nbsp;&nbsp;77219 | &nbsp;&nbsp;&nbsp;&nbsp;6021538 |
|  |  | &nbsp;&nbsp;&nbsp;28946782 |
| **Capital markets – 2.5%** | **Capital markets – 2.5%** |  |
| Lazard, Inc. | 152230 | &nbsp;&nbsp;&nbsp;&nbsp;7303995 |
| Main Street Capital Corp. (B) | &nbsp;&nbsp;76382 | &nbsp;&nbsp;&nbsp;&nbsp;4514176 |
| StepStone Group, Inc., Class A | &nbsp;&nbsp;48684 | &nbsp;&nbsp;&nbsp;&nbsp;2701962 |
|  |  | &nbsp;&nbsp;&nbsp;14520133 |
| **Consumer finance – 0.7%** | **Consumer finance – 0.7%** |  |
| OneMain Holdings, Inc. | &nbsp;&nbsp;64459 | &nbsp;&nbsp;&nbsp;&nbsp;3674163 |
| **Financial services – 4.7%** | **Financial services – 4.7%** |  |
| Corebridge Financial, Inc. | 172711 | &nbsp;&nbsp;&nbsp;&nbsp;6131241 |
| Corpay, Inc. (A) | &nbsp;&nbsp;21819 | &nbsp;&nbsp;&nbsp;&nbsp;7239981 |
| Edenred SE | 114414 | &nbsp;&nbsp;&nbsp;&nbsp;3553758 |
| Marqeta, Inc., Class A (A) | 736150 | &nbsp;&nbsp;&nbsp;&nbsp;4291755 |
| Voya Financial, Inc. | &nbsp;&nbsp;80569 | &nbsp;&nbsp;&nbsp;&nbsp;5720399 |
|  |  | &nbsp;&nbsp;&nbsp;26937134 |
| **Insurance – 6.5%** | **Insurance – 6.5%** |  |
| Assurant, Inc. | &nbsp;&nbsp;25998 | &nbsp;&nbsp;&nbsp;&nbsp;5134345 |
| Horace Mann Educators Corp. | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;2363350 |
| Lincoln National Corp. | &nbsp;&nbsp;82700 | &nbsp;&nbsp;&nbsp;&nbsp;2861420 |
| RenaissanceRe Holdings, Ltd. | &nbsp;&nbsp;41575 | &nbsp;&nbsp;&nbsp;10098568 |
| The Allstate Corp. | &nbsp;&nbsp;30907 | &nbsp;&nbsp;&nbsp;&nbsp;6221888 |
| The Hanover Insurance Group, Inc. | &nbsp;&nbsp;33851 | &nbsp;&nbsp;&nbsp;&nbsp;5750269 |
| Willis Towers Watson PLC | &nbsp;&nbsp;17400 | &nbsp;&nbsp;&nbsp;&nbsp;5333100 |
|  |  | &nbsp;&nbsp;&nbsp;37762940 |
| **Mortgage real estate investment trusts – 0.7%** | **Mortgage real estate investment trusts – 0.7%** |  |
| Annaly Capital Management, Inc. | 217100 | &nbsp;&nbsp;&nbsp;&nbsp;4085822 |
|  |  | 115926974 |
| **Health care – 10.8%** |  |  |
| **Biotechnology – 1.9%** | **Biotechnology – 1.9%** |  |
| Alkermes PLC (A) | 142596 | &nbsp;&nbsp;&nbsp;&nbsp;4079672 |
| Exact Sciences Corp. (A) | &nbsp;&nbsp;30455 | &nbsp;&nbsp;&nbsp;&nbsp;1618379 |
| Neurocrine Biosciences, Inc. (A) | &nbsp;&nbsp;40600 | &nbsp;&nbsp;&nbsp;&nbsp;5103014 |
|  |  | &nbsp;&nbsp;&nbsp;10801065 |
| **Health care equipment and supplies – 4.8%** | **Health care equipment and supplies – 4.8%** |  |
| Baxter International, Inc. | 307179 | &nbsp;&nbsp;&nbsp;&nbsp;9301380 |
| Dentsply Sirona, Inc. | 240427 | &nbsp;&nbsp;&nbsp;&nbsp;3817981 |
| The Cooper Companies, Inc. (A) | &nbsp;&nbsp;68400 | &nbsp;&nbsp;&nbsp;&nbsp;4867344 |
| Zimmer Biomet Holdings, Inc. | 108295 | &nbsp;&nbsp;&nbsp;&nbsp;9877588 |
|  |  | &nbsp;&nbsp;&nbsp;27864293 |
| **Health care providers and services – 1.9%** | **Health care providers and services – 1.9%** |  |
| Concentra Group Holdings Parent, Inc. | 288196 | &nbsp;&nbsp;&nbsp;&nbsp;5928192 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Health care providers and services (continued)** | **Health care providers and services (continued)** |  |
| Select Medical Holdings Corp. | 324036 | $&nbsp;&nbsp;&nbsp;4918866 |
|  |  | 10847058 |
| **Pharmaceuticals – 2.2%** | **Pharmaceuticals – 2.2%** |  |
| Perrigo Company PLC | 310422 | &nbsp;&nbsp;&nbsp;8294476 |
| Viatris, Inc. | 492908 | &nbsp;&nbsp;&nbsp;4401668 |
|  |  | 12696144 |
|  |  | 62208560 |
| **Industrials – 17.2%** |  |  |
| **Aerospace and defense – 3.8%** | **Aerospace and defense – 3.8%** |  |
| Hexcel Corp. | &nbsp;&nbsp;71500 | &nbsp;&nbsp;&nbsp;4039035 |
| L3Harris Technologies, Inc. | &nbsp;&nbsp;32950 | &nbsp;&nbsp;&nbsp;8265178 |
| StandardAero, Inc. (A) | 201907 | &nbsp;&nbsp;&nbsp;6390357 |
| Textron, Inc. | &nbsp;&nbsp;38504 | &nbsp;&nbsp;&nbsp;3091486 |
|  |  | 21786056 |
| **Construction and engineering – 1.7%** | **Construction and engineering – 1.7%** |  |
| API Group Corp. (A) | 190335 | &nbsp;&nbsp;&nbsp;9716602 |
| **Electrical equipment – 1.1%** | **Electrical equipment – 1.1%** |  |
| Sensata Technologies Holding PLC | 209243 | &nbsp;&nbsp;&nbsp;6300307 |
| **Ground transportation – 2.2%** | **Ground transportation – 2.2%** |  |
| Norfolk Southern Corp. | &nbsp;&nbsp;33232 | &nbsp;&nbsp;&nbsp;8506395 |
| Saia, Inc. (A) | &nbsp;&nbsp;16106 | &nbsp;&nbsp;&nbsp;4412883 |
|  |  | 12919278 |
| **Machinery – 4.7%** | **Machinery – 4.7%** |  |
| AGCO Corp. | &nbsp;&nbsp;45121 | &nbsp;&nbsp;&nbsp;4654682 |
| Esab Corp. | &nbsp;&nbsp;34770 | &nbsp;&nbsp;&nbsp;4191524 |
| Fortive Corp. | &nbsp;&nbsp;98102 | &nbsp;&nbsp;&nbsp;5114057 |
| RBC Bearings, Inc. (A) | &nbsp;&nbsp;&nbsp;3723 | &nbsp;&nbsp;&nbsp;1432610 |
| The Middleby Corp. (A) | &nbsp;&nbsp;50683 | &nbsp;&nbsp;&nbsp;7298352 |
| Xylem, Inc. | &nbsp;&nbsp;33800 | &nbsp;&nbsp;&nbsp;4372368 |
|  |  | 27063593 |
| **Passenger airlines – 1.0%** | **Passenger airlines – 1.0%** |  |
| Southwest Airlines Company | 183995 | &nbsp;&nbsp;&nbsp;5968798 |
| **Professional services – 2.2%** | **Professional services – 2.2%** |  |
| First Advantage Corp. (A) | 169443 | &nbsp;&nbsp;&nbsp;2814448 |
| SS&C Technologies Holdings, Inc. | &nbsp;&nbsp;57767 | &nbsp;&nbsp;&nbsp;4783108 |
| Verra Mobility Corp. (A) | 195077 | &nbsp;&nbsp;&nbsp;4953005 |
|  |  | 12550561 |
| **Trading companies and distributors – 0.5%** | **Trading companies and distributors – 0.5%** |  |
| SiteOne Landscape Supply, Inc. (A) | &nbsp;&nbsp;24465 | &nbsp;&nbsp;&nbsp;2958797 |
|  |  | 99263992 |
| **Information technology – 10.7%** |  |  |
| **Electronic equipment, instruments and components – 5.0%** | **Electronic equipment, instruments and components – 5.0%** |  |
| CDW Corp. | &nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;3286056 |
| Corning, Inc. | 183264 | &nbsp;&nbsp;&nbsp;9637854 |
| Keysight Technologies, Inc. (A) | &nbsp;&nbsp;53600 | &nbsp;&nbsp;&nbsp;8782896 |
| Ralliant Corp. (A) | &nbsp;&nbsp;32701 | &nbsp;&nbsp;&nbsp;1585655 |
| TE Connectivity PLC | &nbsp;&nbsp;32935 | &nbsp;&nbsp;&nbsp;5555146 |
|  |  | 28847607 |
| **IT services – 0.8%** | **IT services – 0.8%** |  |
| GoDaddy, Inc., Class A (A) | &nbsp;&nbsp;26920 | &nbsp;&nbsp;&nbsp;4847215 |
| **Semiconductors and semiconductor equipment – 1.8%** | **Semiconductors and semiconductor equipment – 1.8%** |  |
| MKS, Inc. | &nbsp;&nbsp;78376 | &nbsp;&nbsp;&nbsp;7787439 |
| Rambus, Inc. (A) | &nbsp;&nbsp;40255 | &nbsp;&nbsp;&nbsp;2577125 |
|  |  | 10364564 |
| **Software – 1.6%** | **Software – 1.6%** |  |
| CCC Intelligent Solutions Holdings, Inc. (A) | 322900 | &nbsp;&nbsp;&nbsp;3038489 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 80 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Mid Value Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Software (continued)** | **Software (continued)** |  |
| DocuSign, Inc. (A) | &nbsp;&nbsp;80066 | $&nbsp;&nbsp;&nbsp;&nbsp;6236341 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;9274830 |
| **Technology hardware, storage and peripherals – 1.5%** | **Technology hardware, storage and peripherals – 1.5%** |  |
| Sandisk Corp. (A) | 112250 | &nbsp;&nbsp;&nbsp;&nbsp;5090538 |
| Western Digital Corp. | &nbsp;&nbsp;54006 | &nbsp;&nbsp;&nbsp;&nbsp;3455844 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;8546382 |
|  |  | &nbsp;&nbsp;&nbsp;61880598 |
| **Materials – 5.5%** |  |  |
| **Chemicals – 1.3%** | **Chemicals – 1.3%** |  |
| DuPont de Nemours, Inc. | &nbsp;&nbsp;61655 | &nbsp;&nbsp;&nbsp;&nbsp;4228916 |
| Westlake Corp. | &nbsp;&nbsp;45500 | &nbsp;&nbsp;&nbsp;&nbsp;3454815 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;7683731 |
| **Construction materials – 0.6%** | **Construction materials – 0.6%** |  |
| Knife River Corp. (A) | &nbsp;&nbsp;41266 | &nbsp;&nbsp;&nbsp;&nbsp;3368956 |
| **Containers and packaging – 1.3%** | **Containers and packaging – 1.3%** |  |
| International Paper Company | 159702 | &nbsp;&nbsp;&nbsp;&nbsp;7478845 |
| **Metals and mining – 1.7%** | **Metals and mining – 1.7%** |  |
| Franco-Nevada Corp. | &nbsp;&nbsp;35008 | &nbsp;&nbsp;&nbsp;&nbsp;5747559 |
| Freeport-McMoRan, Inc. | &nbsp;&nbsp;95266 | &nbsp;&nbsp;&nbsp;&nbsp;4129781 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;9877340 |
| **Paper and forest products – 0.6%** | **Paper and forest products – 0.6%** |  |
| Stora Enso OYJ, R Shares | 332650 | &nbsp;&nbsp;&nbsp;&nbsp;3616434 |
|  |  | &nbsp;&nbsp;&nbsp;32025306 |
| **Real estate – 7.8%** |  |  |
| **Industrial REITs – 1.1%** | **Industrial REITs – 1.1%** |  |
| Lineage, Inc. | &nbsp;&nbsp;65280 | &nbsp;&nbsp;&nbsp;&nbsp;2840986 |
| Rexford Industrial Realty, Inc. | 100325 | &nbsp;&nbsp;&nbsp;&nbsp;3568560 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;6409546 |
| **Office REITs – 0.7%** | **Office REITs – 0.7%** |  |
| Vornado Realty Trust | &nbsp;&nbsp;98776 | &nbsp;&nbsp;&nbsp;&nbsp;3777194 |
| **Real estate management and development – 0.5%** | **Real estate management and development – 0.5%** |  |
| Jones Lang LaSalle, Inc. (A) | &nbsp;&nbsp;12400 | &nbsp;&nbsp;&nbsp;&nbsp;3171672 |
| **Residential REITs – 3.1%** | **Residential REITs – 3.1%** |  |
| Apartment Investment and Management Company, Class A | 401057 | &nbsp;&nbsp;&nbsp;&nbsp;3469143 |
| Equity Residential | &nbsp;&nbsp;86831 | &nbsp;&nbsp;&nbsp;&nbsp;5860224 |
| Sun Communities, Inc. | &nbsp;&nbsp;69546 | &nbsp;&nbsp;&nbsp;&nbsp;8796874 |
|  |  | &nbsp;&nbsp;&nbsp;18126241 |
| **Retail REITs – 1.0%** | **Retail REITs – 1.0%** |  |
| Regency Centers Corp. | &nbsp;&nbsp;83812 | &nbsp;&nbsp;&nbsp;&nbsp;5969929 |
| **Specialized REITs – 1.4%** | **Specialized REITs – 1.4%** |  |
| Rayonier, Inc. | 146496 | &nbsp;&nbsp;&nbsp;&nbsp;3249281 |
| Weyerhaeuser Company | 178152 | &nbsp;&nbsp;&nbsp;&nbsp;4576725 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;7826006 |
|  |  | &nbsp;&nbsp;&nbsp;45280588 |
| **Utilities – 6.4%** |  |  |
| **Electric utilities – 2.0%** | **Electric utilities – 2.0%** |  |
| FirstEnergy Corp. | 153174 | &nbsp;&nbsp;&nbsp;&nbsp;6166785 |
| PG&E Corp. | 403830 | &nbsp;&nbsp;&nbsp;&nbsp;5629390 |
|  |  | &nbsp;&nbsp;&nbsp;11796175 |
| **Multi-utilities – 4.4%** | **Multi-utilities – 4.4%** |  |
| Ameren Corp. | &nbsp;&nbsp;75884 | &nbsp;&nbsp;&nbsp;&nbsp;7287899 |
| CenterPoint Energy, Inc. | 138974 | &nbsp;&nbsp;&nbsp;&nbsp;5105905 |
| Consolidated Edison, Inc. | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;5017500 |
| Dominion Energy, Inc. | 138630 | &nbsp;&nbsp;&nbsp;&nbsp;7835368 |
|  |  | &nbsp;&nbsp;&nbsp;25246672 |
|  |  | &nbsp;&nbsp;&nbsp;37042847 |
| TOTAL COMMON STOCKS (Cost $514,040,583) | TOTAL COMMON STOCKS (Cost $514,040,583) | $566663647 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CONVERTIBLE BONDS - 0.2%** |  |  |
| **Information technology - 0.2%** |  |  |
| Wolfspeed, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;0.250%, 02/15/2028 (C) | &nbsp;&nbsp;978000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;242055 |
| &nbsp;&nbsp;&nbsp;1.875%, 12/01/2029 (C) | 3436000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850410 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1092465 |
| TOTAL CONVERTIBLE BONDS (Cost $2,791,823) | TOTAL CONVERTIBLE BONDS (Cost $2,791,823) | $&nbsp;&nbsp;&nbsp;&nbsp;1092465 |
| **SHORT-TERM INVESTMENTS – 3.6%** | **SHORT-TERM INVESTMENTS – 3.6%** |  |
| **Short-term funds – 3.6%** |  |  |
| John Hancock Collateral Trust, 4.2596% (D)(E) | 1101777 | &nbsp;&nbsp;&nbsp;11020418 |
| State Street Institutional U.S. Government Money Market Fund, Premier Class, 4.2560% (D) | 2040999 | &nbsp;&nbsp;&nbsp;&nbsp;2040999 |
| T. Rowe Price Government Reserve Fund, 4.3685% (D) | 7686780 | &nbsp;&nbsp;&nbsp;&nbsp;7686780 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $20,748,118) | TOTAL SHORT-TERM INVESTMENTS (Cost $20,748,118) | $&nbsp;&nbsp;&nbsp;20748197 |
| **Total Investments (Mid Value Trust)<br> (Cost $537,580,524) – 101.8%** | **Total Investments (Mid Value Trust)<br> (Cost $537,580,524) – 101.8%** | $**588504309** |
| **Other assets and liabilities, net – (1.8%)** | **Other assets and liabilities, net – (1.8%)** | &nbsp;&nbsp;**(10205361)** |
| **TOTAL NET ASSETS – 100.0%** | **TOTAL NET ASSETS – 100.0%** | $**578298948** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| (A) | Non-income producing security. |
| (B) | All or a portion of this security is on loan as of 6-30-25. |
| (C) | Non-income producing - Issuer is in default. |
| (D) | The rate shown is the annualized seven-day yield as of 6-30-25. |
| (E) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |

---

#### Real Estate Securities Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS – 98.4%** | **COMMON STOCKS – 98.4%** |  |
| **Consumer discretionary – 3.4%** |  |  |
| **Hotels, restaurants and leisure – 3.4%** | **Hotels, restaurants and leisure – 3.4%** |  |
| Hyatt Hotels Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27016 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3772784 |
| Marriott International, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5538240 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9311024 |
| **Health care – 1.8%** |  |  |
| **Health care providers and services – 1.8%** | **Health care providers and services – 1.8%** |  |
| Brookdale Senior Living, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;732358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5097212 |
| **Real estate – 93.2%** |  |  |
| **Diversified REITs – 3.0%** | **Diversified REITs – 3.0%** |  |
| Essential Properties Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8398935 |
| **Health care REITs – 16.9%** | **Health care REITs – 16.9%** |  |
| American Healthcare REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;234358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8610313 |
| CareTrust REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135844 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4156826 |
| Ventas, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109643 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6923955 |
| Welltower, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179558 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27603451 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47294545 |
| **Hotel and resort REITs – 0.5%** | **Hotel and resort REITs – 0.5%** |  |
| Xenia Hotels & Resorts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1372091 |
| **Industrial REITs – 11.4%** | **Industrial REITs – 11.4%** |  |
| EastGroup Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60268 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10071988 |
| Prologis, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205802 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21633906 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31705894 |
| **Office REITs – 5.9%** | **Office REITs – 5.9%** |  |
| Cousins Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4298194 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 81 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Real Estate Securities Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Office REITs (continued)** | **Office REITs (continued)** |  |
| Hudson Pacific Properties, Inc. (A) | 1040250 | $&nbsp;&nbsp;&nbsp;&nbsp;2850285 |
| SL Green Realty Corp. | &nbsp;&nbsp;150269 | &nbsp;&nbsp;&nbsp;&nbsp;9301651 |
|  |  | &nbsp;&nbsp;&nbsp;16450130 |
| **Real estate management and development – 1.2%** | **Real estate management and development – 1.2%** |  |
| CBRE Group, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;24626 | &nbsp;&nbsp;&nbsp;&nbsp;3450595 |
| **Residential REITs – 16.4%** | **Residential REITs – 16.4%** |  |
| American Homes 4 Rent, Class A | &nbsp;&nbsp;225832 | &nbsp;&nbsp;&nbsp;&nbsp;8145760 |
| AvalonBay Communities, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;45294 | &nbsp;&nbsp;&nbsp;&nbsp;9217329 |
| Essex Property Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;55189 | &nbsp;&nbsp;&nbsp;15640563 |
| Independence Realty Trust, Inc. | &nbsp;&nbsp;305983 | &nbsp;&nbsp;&nbsp;&nbsp;5412839 |
| Mid-America Apartment Communities, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;40760 | &nbsp;&nbsp;&nbsp;&nbsp;6032888 |
| Sun Communities, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11421 | &nbsp;&nbsp;&nbsp;&nbsp;1444642 |
|  |  | &nbsp;&nbsp;&nbsp;45894021 |
| **Retail REITs – 12.8%** | **Retail REITs – 12.8%** |  |
| Agree Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp;81371 | &nbsp;&nbsp;&nbsp;&nbsp;5944965 |
| Curbline Properties Corp. | &nbsp;&nbsp;153436 | &nbsp;&nbsp;&nbsp;&nbsp;3502944 |
| Phillips Edison & Company, Inc. | &nbsp;&nbsp;160637 | &nbsp;&nbsp;&nbsp;&nbsp;5627114 |
| Regency Centers Corp. | &nbsp;&nbsp;121242 | &nbsp;&nbsp;&nbsp;&nbsp;8636068 |
| Simon Property Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;44121 | &nbsp;&nbsp;&nbsp;&nbsp;7092892 |
| Tanger, Inc. | &nbsp;&nbsp;157755 | &nbsp;&nbsp;&nbsp;&nbsp;4824148 |
|  |  | &nbsp;&nbsp;&nbsp;35628131 |
| **Specialized REITs – 25.1%** | **Specialized REITs – 25.1%** |  |
| American Tower Corp. | &nbsp;&nbsp;&nbsp;&nbsp;41613 | &nbsp;&nbsp;&nbsp;&nbsp;9197305 |
| Digital Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;48690 | &nbsp;&nbsp;&nbsp;&nbsp;8488128 |
| EPR Properties | &nbsp;&nbsp;149909 | &nbsp;&nbsp;&nbsp;&nbsp;8733698 |
| Equinix, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;21833 | &nbsp;&nbsp;&nbsp;17367498 |
| Iron Mountain, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;76842 | &nbsp;&nbsp;&nbsp;&nbsp;7881684 |
| Public Storage | &nbsp;&nbsp;&nbsp;&nbsp;44266 | &nbsp;&nbsp;&nbsp;12988530 |
| Smartstop Self Storage REIT, Inc. | &nbsp;&nbsp;149665 | &nbsp;&nbsp;&nbsp;&nbsp;5422363 |
|  |  | &nbsp;&nbsp;&nbsp;70079206 |
|  |  | 260273548 |
| TOTAL COMMON STOCKS (Cost $256,471,441) | TOTAL COMMON STOCKS (Cost $256,471,441) | $274681784 |
| **SHORT-TERM INVESTMENTS – 1.9%** | **SHORT-TERM INVESTMENTS – 1.9%** |  |
| **Short-term funds – 1.9%** |  |  |
| State Street Institutional U.S. Government Money Market Fund, Premier Class, 4.2560% (B) | 5413664 | &nbsp;&nbsp;&nbsp;&nbsp;5413664 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $5,413,664) | TOTAL SHORT-TERM INVESTMENTS (Cost $5,413,664) | $&nbsp;&nbsp;&nbsp;&nbsp;5413664 |
| **Total Investments (Real Estate Securities Trust)<br> (Cost $261,885,105) – 100.3%** | **Total Investments (Real Estate Securities Trust)<br> (Cost $261,885,105) – 100.3%** | $**280095448** |
| **Other assets and liabilities, net – (0.3%)** | **Other assets and liabilities, net – (0.3%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(829496)** |
| **TOTAL NET ASSETS – 100.0%** | **TOTAL NET ASSETS – 100.0%** | $**279265952** |

---

<u>Security Abbreviations and Legend</u> <br> (A) Non-income producing security. <br> (B) The rate shown is the annualized seven-day yield as of 6-30-25.

#### Science & Technology Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS – 99.7%** | **COMMON STOCKS – 99.7%** |  |
| **Communication services – 18.0%** |  |  |
| **Entertainment – 3.2%** | **Entertainment – 3.2%** |  |
| Netflix, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7819 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10470657 |
| ROBLOX Corp., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95626 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10059855 |
| Sea, Ltd., ADR (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4622266 |
| Spotify Technology SA (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3069360 |
| Take-Two Interactive Software, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3749604 |

---

#### Science & Technology Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Entertainment (continued)** | **Entertainment (continued)** |  |
| TKO Group Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15800 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2874810 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34846552 |
| **Interactive media and services – 14.8%** | **Interactive media and services – 14.8%** |  |
| Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15532912 |
| Alphabet, Inc., Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36642211 |
| Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108868276 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161043399 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195889951 |
| **Consumer discretionary – 1.4%** |  |  |
| **Diversified consumer services – 0.2%** | **Diversified consumer services – 0.2%** |  |
| Duolingo, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1968096 |
| **Hotels, restaurants and leisure – 0.8%** | **Hotels, restaurants and leisure – 0.8%** |  |
| Booking Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;763 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4417190 |
| DoorDash, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3968811 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8386001 |
| **Specialty retail – 0.4%** | **Specialty retail – 0.4%** |  |
| Carvana Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4751136 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15105233 |
| **Financials – 1.7%** |  |  |
| **Capital markets – 1.5%** | **Capital markets – 1.5%** |  |
| Coinbase Global, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4801713 |
| Galaxy Digital, Inc., Class A (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;459900 |
| Robinhood Markets, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11422860 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16684473 |
| **Financial services – 0.2%** | **Financial services – 0.2%** |  |
| Chime Financial, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50889 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1756179 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18440652 |
| **Health care – 0.0%** |  |  |
| **Pharmaceuticals – 0.0%** | **Pharmaceuticals – 0.0%** |  |
| Chugai Pharmaceutical Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;522178 |
| **Industrials – 0.1%** |  |  |
| **Aerospace and defense – 0.1%** | **Aerospace and defense – 0.1%** |  |
| Axon Enterprise, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1738674 |
| **Information technology – 78.5%** |  |  |
| **Communications equipment – 2.9%** | **Communications equipment – 2.9%** |  |
| Arista Networks, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16825493 |
| Ciena Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;731970 |
| Cisco Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13368693 |
| F5, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;706368 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31632524 |
| **Electronic equipment, instruments and components – 2.8%** | **Electronic equipment, instruments and components – 2.8%** |  |
| Amphenol Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13633129 |
| Celestica, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1966986 |
| Corning, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78572 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4132101 |
| Jabil, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1548510 |
| Keysight Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28578 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4682791 |
| TE Connectivity PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4680930 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30644447 |
| **IT services – 5.6%** | **IT services – 5.6%** |  |
| Cloudflare, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5228661 |
| CoreWeave, Inc., Class A (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8038858 |
| GoDaddy, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3324628 |
| IBM Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25645565 |
| Shopify, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11994785 |
| Snowflake, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5952282 |
| VeriSign, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;519840 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60704619 |
| **Semiconductors and semiconductor equipment – 34.4%** | **Semiconductors and semiconductor equipment – 34.4%** |  |
| Advanced Micro Devices, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276818 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39280474 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 82 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Science & Technology Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Semiconductors and semiconductor equipment (continued)** | **Semiconductors and semiconductor equipment (continued)** |  |
| Analog Devices, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;42279 | $&nbsp;&nbsp;&nbsp;&nbsp;10063248 |
| Applied Materials, Inc. | &nbsp;&nbsp;145903 | &nbsp;&nbsp;&nbsp;&nbsp;26710462 |
| Broadcom, Inc. | &nbsp;&nbsp;303031 | &nbsp;&nbsp;&nbsp;&nbsp;83530495 |
| Disco Corp. | &nbsp;&nbsp;&nbsp;&nbsp;11000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3258677 |
| First Solar, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;10400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1721616 |
| Impinj, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;20200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2243614 |
| KLA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;22239 | &nbsp;&nbsp;&nbsp;&nbsp;19920362 |
| Lam Research Corp. | &nbsp;&nbsp;241785 | &nbsp;&nbsp;&nbsp;&nbsp;23535352 |
| Lattice Semiconductor Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;13849 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;678463 |
| Marvell Technology, Inc. | &nbsp;&nbsp;185253 | &nbsp;&nbsp;&nbsp;&nbsp;14338582 |
| Microchip Technology, Inc. | &nbsp;&nbsp;111266 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7829788 |
| Micron Technology, Inc. | &nbsp;&nbsp;100063 | &nbsp;&nbsp;&nbsp;&nbsp;12332765 |
| Monolithic Power Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;20213 | &nbsp;&nbsp;&nbsp;&nbsp;14783384 |
| NVIDIA Corp. | &nbsp;&nbsp;689205 | &nbsp;&nbsp;&nbsp;&nbsp;108887500 |
| Rambus, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;59757 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3825643 |
| SK Hynix, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;7655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1649511 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;374589936 |
| **Software – 27.9%** | **Software – 27.9%** |  |
| AppLovin Corp., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;21300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7456704 |
| Aurora Innovation, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;3629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19016 |
| Cadence Design Systems, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;9125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2811869 |
| Circle Internet Group, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;24950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4523186 |
| Crowdstrike Holdings, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;21775 | &nbsp;&nbsp;&nbsp;&nbsp;11090225 |
| CyberArk Software, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1098576 |
| Fair Isaac Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;2831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5174955 |
| Fortinet, Inc. (A) | &nbsp;&nbsp;121213 | &nbsp;&nbsp;&nbsp;&nbsp;12814638 |
| Guidewire Software, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211905 |
| InterDigital, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;7800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1748994 |
| Intuit, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;26060 | &nbsp;&nbsp;&nbsp;&nbsp;20525638 |
| Manhattan Associates, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;5300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1046591 |
| Microsoft Corp. | &nbsp;&nbsp;192813 | &nbsp;&nbsp;&nbsp;&nbsp;95907114 |
| MicroStrategy, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;87348 | &nbsp;&nbsp;&nbsp;&nbsp;35308682 |
| Monday.com, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;754752 |
| Nutanix, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;50273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3842868 |
| Oracle Corp. | &nbsp;&nbsp;130791 | &nbsp;&nbsp;&nbsp;&nbsp;28594836 |
| Palantir Technologies, Inc., Class A (A) | &nbsp;&nbsp;174793 | &nbsp;&nbsp;&nbsp;&nbsp;23827782 |
| Palo Alto Networks, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;63408 | &nbsp;&nbsp;&nbsp;&nbsp;12975813 |
| Rubrik, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;16200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1451358 |
| Samsara, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;3404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135411 |
| SAP SE | &nbsp;&nbsp;&nbsp;&nbsp;15483 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4734386 |
| ServiceNow, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;16210 | &nbsp;&nbsp;&nbsp;&nbsp;16665177 |
| Synopsys, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;14078 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7217509 |
| Tyler Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;2485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1473207 |
| Zscaler, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2888248 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;304299440 |
| **Technology hardware, storage and peripherals – 4.9%** | **Technology hardware, storage and peripherals – 4.9%** |  |
| Apple, Inc. | &nbsp;&nbsp;227949 | &nbsp;&nbsp;&nbsp;&nbsp;46768296 |
| IonQ, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;38600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1658642 |
| Seagate Technology Holdings PLC | &nbsp;&nbsp;&nbsp;&nbsp;33600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4849488 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;53276426 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;855147392 |
| **Real estate – 0.0%** |  |  |
| **Specialized REITs – 0.0%** | **Specialized REITs – 0.0%** |  |
| Equinix, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107388 |
| TOTAL COMMON STOCKS (Cost $908,992,731) | TOTAL COMMON STOCKS (Cost $908,992,731) | $1086951468 |
| **SHORT-TERM INVESTMENTS – 1.5%** | **SHORT-TERM INVESTMENTS – 1.5%** |  |
| **Short-term funds – 1.5%** |  |  |
| John Hancock Collateral Trust, 4.2596% (C)(D) | 1298763 | &nbsp;&nbsp;&nbsp;&nbsp;12990748 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **SHORT-TERM INVESTMENTS (continued)** | **SHORT-TERM INVESTMENTS (continued)** |  |
| **Short-term funds (continued)** |  |  |
| State Street Institutional U.S. Government Money Market Fund, Premier Class, 4.2560% (C) | &nbsp;&nbsp;501332 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;501332 |
| T. Rowe Price Government Reserve Fund, 4.3685% (C) | 2890007 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2890007 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $16,382,090) | TOTAL SHORT-TERM INVESTMENTS (Cost $16,382,090) | $&nbsp;&nbsp;&nbsp;&nbsp;16382087 |
| **Total Investments (Science & Technology Trust)<br> (Cost $925,374,821) – 101.2%** | **Total Investments (Science & Technology Trust)<br> (Cost $925,374,821) – 101.2%** | $**1103333555** |
| **Other assets and liabilities, net – (1.2%)** | **Other assets and liabilities, net – (1.2%)** | &nbsp;&nbsp;&nbsp;&nbsp;**(13551539)** |
| **TOTAL NET ASSETS – 100.0%** | **TOTAL NET ASSETS – 100.0%** | $**1089782016** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| ADR | American Depositary Receipt |
| (A) | Non-income producing security. |
| (B) | All or a portion of this security is on loan as of 6-30-25. |
| (C) | The rate shown is the annualized seven-day yield as of 6-30-25. |
| (D) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |

---

#### Small Cap Core Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS – 97.4%** | **COMMON STOCKS – 97.4%** |  |
| **Communication services – 2.4%** |  |  |
| **Entertainment – 2.4%** | **Entertainment – 2.4%** |  |
| Madison Square Garden Sports Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24486 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5116350 |
| Playtika Holding Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;381352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1803795 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6920145 |
| **Consumer discretionary – 11.5%** |  |  |
| **Diversified consumer services – 1.3%** | **Diversified consumer services – 1.3%** |  |
| Mister Car Wash, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;626994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3768234 |
| **Hotels, restaurants and leisure – 4.0%** | **Hotels, restaurants and leisure – 4.0%** |  |
| First Watch Restaurant Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3934323 |
| Genius Sports, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;372513 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3874135 |
| Wingstop, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10821 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3643864 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11452322 |
| **Household durables – 1.1%** | **Household durables – 1.1%** |  |
| Green Brick Partners, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47948 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3014970 |
| **Specialty retail – 2.6%** | **Specialty retail – 2.6%** |  |
| Abercrombie & Fitch Company, Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27388 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2269096 |
| Lithia Motors, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15689 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5300058 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7569154 |
| **Textiles, apparel and luxury goods – 2.5%** | **Textiles, apparel and luxury goods – 2.5%** |  |
| Levi Strauss & Company, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208363 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3852632 |
| On Holding AG, Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3435300 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7287932 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33092612 |
| **Consumer staples – 2.8%** |  |  |
| **Consumer staples distribution and retail – 1.0%** | **Consumer staples distribution and retail – 1.0%** |  |
| The Chefs' Warehouse, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44538 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2841970 |
| **Household products – 0.9%** | **Household products – 0.9%** |  |
| Central Garden & Pet Company, Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2774985 |
| **Personal care products – 0.9%** | **Personal care products – 0.9%** |  |
| BellRing Brands, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44357 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2569601 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8186556 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 83 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Small Cap Core Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Energy – 3.9%** |  |  |
| **Energy equipment and services – 2.1%** | **Energy equipment and services – 2.1%** |  |
| Helmerich & Payne, Inc. | 164800 | $&nbsp;&nbsp;&nbsp;2498368 |
| Liberty Energy, Inc. | 304986 | &nbsp;&nbsp;&nbsp;3501239 |
|  |  | &nbsp;&nbsp;&nbsp;5999607 |
| **Oil, gas and consumable fuels – 1.8%** | **Oil, gas and consumable fuels – 1.8%** |  |
| Magnolia Oil & Gas Corp., Class A | 234831 | &nbsp;&nbsp;&nbsp;5279001 |
|  |  | 11278608 |
| **Financials – 13.4%** |  |  |
| **Banks – 10.2%** | **Banks – 10.2%** |  |
| Banner Corp. | &nbsp;&nbsp;90415 | &nbsp;&nbsp;&nbsp;5800122 |
| Cullen/Frost Bankers, Inc. | &nbsp;&nbsp;53943 | &nbsp;&nbsp;&nbsp;6933833 |
| Pinnacle Financial Partners, Inc. | &nbsp;&nbsp;60602 | &nbsp;&nbsp;&nbsp;6691067 |
| SouthState Corp. | &nbsp;&nbsp;72493 | &nbsp;&nbsp;&nbsp;6671530 |
| Univest Financial Corp. | 117284 | &nbsp;&nbsp;&nbsp;3523211 |
|  |  | 29619763 |
| **Capital markets – 3.2%** | **Capital markets – 3.2%** |  |
| Evercore, Inc., Class A | &nbsp;&nbsp;18724 | &nbsp;&nbsp;&nbsp;5055854 |
| Moelis & Company, Class A | &nbsp;&nbsp;65242 | &nbsp;&nbsp;&nbsp;4065881 |
|  |  | &nbsp;&nbsp;&nbsp;9121735 |
|  |  | 38741498 |
| **Health care – 13.3%** |  |  |
| **Biotechnology – 0.9%** | **Biotechnology – 0.9%** |  |
| ACADIA Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;71767 | &nbsp;&nbsp;&nbsp;1548014 |
| Ultragenyx Pharmaceutical, Inc. (A) | &nbsp;&nbsp;30388 | &nbsp;&nbsp;&nbsp;1104908 |
|  |  | &nbsp;&nbsp;&nbsp;2652922 |
| **Health care equipment and supplies – 7.3%** | **Health care equipment and supplies – 7.3%** |  |
| Globus Medical, Inc., Class A (A) | &nbsp;&nbsp;62497 | &nbsp;&nbsp;&nbsp;3688573 |
| Haemonetics Corp. (A) | &nbsp;&nbsp;42291 | &nbsp;&nbsp;&nbsp;3155332 |
| ICU Medical, Inc. (A) | &nbsp;&nbsp;22969 | &nbsp;&nbsp;&nbsp;3035353 |
| Integer Holdings Corp. (A) | &nbsp;&nbsp;26121 | &nbsp;&nbsp;&nbsp;3212099 |
| LivaNova PLC (A) | &nbsp;&nbsp;49993 | &nbsp;&nbsp;&nbsp;2250685 |
| Merit Medical Systems, Inc. (A) | &nbsp;&nbsp;32114 | &nbsp;&nbsp;&nbsp;3002017 |
| Teleflex, Inc. | &nbsp;&nbsp;23748 | &nbsp;&nbsp;&nbsp;2810813 |
|  |  | 21154872 |
| **Health care providers and services – 2.2%** | **Health care providers and services – 2.2%** |  |
| Concentra Group Holdings Parent, Inc. | 125863 | &nbsp;&nbsp;&nbsp;2589002 |
| Option Care Health, Inc. (A) | 117190 | &nbsp;&nbsp;&nbsp;3806331 |
|  |  | &nbsp;&nbsp;&nbsp;6395333 |
| **Life sciences tools and services – 1.0%** | **Life sciences tools and services – 1.0%** |  |
| Bio-Rad Laboratories, Inc., Class A (A) | &nbsp;&nbsp;11165 | &nbsp;&nbsp;&nbsp;2694338 |
| **Pharmaceuticals – 1.9%** | **Pharmaceuticals – 1.9%** |  |
| Axsome Therapeutics, Inc. (A) | &nbsp;&nbsp;10834 | &nbsp;&nbsp;&nbsp;1130961 |
| Jazz Pharmaceuticals PLC (A) | &nbsp;&nbsp;15705 | &nbsp;&nbsp;&nbsp;1666615 |
| Prestige Consumer Healthcare, Inc. (A) | &nbsp;&nbsp;33992 | &nbsp;&nbsp;&nbsp;2714261 |
|  |  | &nbsp;&nbsp;&nbsp;5511837 |
|  |  | 38409302 |
| **Industrials – 20.0%** |  |  |
| **Aerospace and defense – 1.8%** | **Aerospace and defense – 1.8%** |  |
| Hexcel Corp. | &nbsp;&nbsp;91214 | &nbsp;&nbsp;&nbsp;5152679 |
| **Building products – 4.2%** | **Building products – 4.2%** |  |
| A.O. Smith Corp. | &nbsp;&nbsp;52117 | &nbsp;&nbsp;&nbsp;3417312 |
| Simpson Manufacturing Company, Inc. | &nbsp;&nbsp;33310 | &nbsp;&nbsp;&nbsp;5173376 |
| Trex Company, Inc. (A) | &nbsp;&nbsp;64682 | &nbsp;&nbsp;&nbsp;3517407 |
|  |  | 12108095 |
| **Construction and engineering – 4.0%** | **Construction and engineering – 4.0%** |  |
| Arcosa, Inc. | &nbsp;&nbsp;77337 | &nbsp;&nbsp;&nbsp;6705891 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Construction and engineering (continued)** | **Construction and engineering (continued)** |  |
| MasTec, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;29529 | $&nbsp;&nbsp;&nbsp;&nbsp;5032627 |
|  |  | &nbsp;&nbsp;&nbsp;11738518 |
| **Electrical equipment – 3.1%** | **Electrical equipment – 3.1%** |  |
| Generac Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;32187 | &nbsp;&nbsp;&nbsp;&nbsp;4609500 |
| Regal Rexnord Corp. | &nbsp;&nbsp;&nbsp;&nbsp;30155 | &nbsp;&nbsp;&nbsp;&nbsp;4371269 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;8980769 |
| **Machinery – 6.9%** | **Machinery – 6.9%** |  |
| Atmus Filtration Technologies, Inc. | &nbsp;&nbsp;148602 | &nbsp;&nbsp;&nbsp;&nbsp;5412085 |
| Crane Company | &nbsp;&nbsp;&nbsp;&nbsp;28612 | &nbsp;&nbsp;&nbsp;&nbsp;5433133 |
| The Timken Company | &nbsp;&nbsp;&nbsp;&nbsp;70160 | &nbsp;&nbsp;&nbsp;&nbsp;5090108 |
| The Toro Company | &nbsp;&nbsp;&nbsp;&nbsp;55658 | &nbsp;&nbsp;&nbsp;&nbsp;3933907 |
|  |  | &nbsp;&nbsp;&nbsp;19869233 |
|  |  | &nbsp;&nbsp;&nbsp;57849294 |
| **Information technology – 23.2%** |  |  |
| **Electronic equipment, instruments and components – 1.7%** | **Electronic equipment, instruments and components – 1.7%** |  |
| Advanced Energy Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;36566 | &nbsp;&nbsp;&nbsp;&nbsp;4844995 |
| **Semiconductors and semiconductor equipment – 6.3%** | **Semiconductors and semiconductor equipment – 6.3%** |  |
| Alpha & Omega Semiconductor, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;75991 | &nbsp;&nbsp;&nbsp;&nbsp;1949929 |
| Ambarella, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;65564 | &nbsp;&nbsp;&nbsp;&nbsp;4331486 |
| Kulicke & Soffa Industries, Inc. | &nbsp;&nbsp;110001 | &nbsp;&nbsp;&nbsp;&nbsp;3806035 |
| MACOM Technology Solutions Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;35064 | &nbsp;&nbsp;&nbsp;&nbsp;5024321 |
| Veeco Instruments, Inc. (A) | &nbsp;&nbsp;155190 | &nbsp;&nbsp;&nbsp;&nbsp;3153461 |
|  |  | &nbsp;&nbsp;&nbsp;18265232 |
| **Software – 15.2%** | **Software – 15.2%** |  |
| Adeia, Inc. | &nbsp;&nbsp;289419 | &nbsp;&nbsp;&nbsp;&nbsp;4092385 |
| Alkami Technology, Inc. (A) | &nbsp;&nbsp;145964 | &nbsp;&nbsp;&nbsp;&nbsp;4399355 |
| Braze, Inc., Class A (A) | &nbsp;&nbsp;140896 | &nbsp;&nbsp;&nbsp;&nbsp;3959178 |
| CommVault Systems, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;27408 | &nbsp;&nbsp;&nbsp;&nbsp;4778037 |
| Progress Software Corp. | &nbsp;&nbsp;&nbsp;&nbsp;69267 | &nbsp;&nbsp;&nbsp;&nbsp;4422005 |
| Q2 Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;55732 | &nbsp;&nbsp;&nbsp;&nbsp;5215958 |
| Tenable Holdings, Inc. (A) | &nbsp;&nbsp;142132 | &nbsp;&nbsp;&nbsp;&nbsp;4801219 |
| Varonis Systems, Inc. (A) | &nbsp;&nbsp;103063 | &nbsp;&nbsp;&nbsp;&nbsp;5230447 |
| Xperi, Inc. (A) | &nbsp;&nbsp;259937 | &nbsp;&nbsp;&nbsp;&nbsp;2056102 |
| Yext, Inc. (A) | &nbsp;&nbsp;592174 | &nbsp;&nbsp;&nbsp;&nbsp;5033479 |
|  |  | &nbsp;&nbsp;&nbsp;43988165 |
|  |  | &nbsp;&nbsp;&nbsp;67098392 |
| **Materials – 1.4%** |  |  |
| **Chemicals – 1.4%** | **Chemicals – 1.4%** |  |
| Avient Corp. | &nbsp;&nbsp;123507 | &nbsp;&nbsp;&nbsp;&nbsp;3990511 |
| **Real estate – 4.2%** |  |  |
| **Industrial REITs – 4.2%** | **Industrial REITs – 4.2%** |  |
| EastGroup Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;37077 | &nbsp;&nbsp;&nbsp;&nbsp;6196308 |
| First Industrial Realty Trust, Inc. | &nbsp;&nbsp;123498 | &nbsp;&nbsp;&nbsp;&nbsp;5943959 |
|  |  | &nbsp;&nbsp;&nbsp;12140267 |
| **Utilities – 1.3%** |  |  |
| **Multi-utilities – 1.3%** | **Multi-utilities – 1.3%** |  |
| Unitil Corp. | &nbsp;&nbsp;&nbsp;&nbsp;72764 | &nbsp;&nbsp;&nbsp;&nbsp;3794643 |
| TOTAL COMMON STOCKS (Cost $252,633,017) | TOTAL COMMON STOCKS (Cost $252,633,017) | $281501828 |
| **SHORT-TERM INVESTMENTS – 2.5%** | **SHORT-TERM INVESTMENTS – 2.5%** |  |
| **Short-term funds – 2.5%** |  |  |
| State Street Institutional U.S. Government Money Market Fund, Premier Class, 4.2560% (B) | 7271474 | &nbsp;&nbsp;&nbsp;&nbsp;7271474 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $7,271,474) | TOTAL SHORT-TERM INVESTMENTS (Cost $7,271,474) | $&nbsp;&nbsp;&nbsp;&nbsp;7271474 |
| **Total Investments (Small Cap Core Trust)<br> (Cost $259,904,491) – 99.9%** | **Total Investments (Small Cap Core Trust)<br> (Cost $259,904,491) – 99.9%** | $**288773302** |
| **Other assets and liabilities, net – 0.1%** | **Other assets and liabilities, net – 0.1%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**173927** |
| **TOTAL NET ASSETS – 100.0%** | **TOTAL NET ASSETS – 100.0%** | $**288947229** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 84 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Small Cap Core Trust (continued)
<u>Security Abbreviations and Legend</u> <br> (A) Non-income producing security. <br> (B) The rate shown is the annualized seven-day yield as of 6-30-25.

#### Small Cap Index Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS – 96.2%** | **COMMON STOCKS – 96.2%** |  |
| **Communication services – 2.5%** |  |  |
| **Diversified telecommunication services – 0.4%** | **Diversified telecommunication services – 0.4%** |  |
| Anterix, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2644 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67819 |
| ATN International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2067 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33589 |
| Bandwidth, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83221 |
| Cogent Communications Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;413690 |
| Globalstar, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9627 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;226716 |
| IDT Corp., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3078 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210289 |
| Liberty Latin America, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41877 |
| Liberty Latin America, Ltd., Class C (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145187 |
| Lumen Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;798067 |
| Shenandoah Telecommunications Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9973 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136231 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2156686 |
| **Entertainment – 0.5%** | **Entertainment – 0.5%** |  |
| AMC Entertainment Holdings, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83519 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;258909 |
| Atlanta Braves Holdings, Inc., Series A (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95418 |
| Atlanta Braves Holdings, Inc., Series C (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385432 |
| Cinemark Holdings, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20307 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;612865 |
| CuriosityStream, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35919 |
| Eventbrite, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15791 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41530 |
| IMAX Corp. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231593 |
| Lionsgate Studios Corp. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221216 |
| Madison Square Garden Entertainment Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7579 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;302933 |
| Playtika Holding Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11451 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54163 |
| Reservoir Media, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4458 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34193 |
| Sphere Entertainment Company (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5309 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221916 |
| Starz Entertainment Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2779 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44659 |
| The Marcus Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77674 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2618420 |
| **Interactive media and services – 0.6%** | **Interactive media and services – 0.6%** |  |
| Angi, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129527 |
| Bumble, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14307 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94283 |
| CarGurus, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;526818 |
| Cars.com, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11268 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133526 |
| EverQuote, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127622 |
| FuboTV, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247638 |
| Getty Images Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23484 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38983 |
| Grindr, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147323 |
| MediaAlpha, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72336 |
| Nextdoor Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74121 |
| QuinStreet, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169807 |
| Rumble, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15339 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137744 |
| Shutterstock, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89207 |
| TripAdvisor, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290480 |
| TrueCar, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17596 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33432 |
| Vimeo, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125567 |
| VTEX, Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77207 |
| Webtoon Entertainment, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36611 |
| Yelp, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11746 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;402535 |
| Ziff Davis, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245490 |
| ZipRecruiter, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13341 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66838 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3267095 |
| **Media – 0.8%** | **Media – 0.8%** |  |
| Advantage Solutions, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20626 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27226 |
| Altice USA, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51078 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109307 |

---

#### Small Cap Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Media (continued)** | **Media (continued)** |  |
| AMC Networks, Inc., Class A (A) | &nbsp;&nbsp;6737 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42241 |
| Boston Omaha Corp., Class A (A) | &nbsp;&nbsp;4665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65497 |
| Cable One, Inc. (B) | &nbsp;&nbsp;1013 | &nbsp;&nbsp;&nbsp;&nbsp;137576 |
| EchoStar Corp., Class A (A)(B) | 25987 | &nbsp;&nbsp;&nbsp;&nbsp;719840 |
| Entravision Communications Corp., Class A | 13780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31970 |
| Gambling.com Group, Ltd. (A) | &nbsp;&nbsp;3433 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40818 |
| Gannett Company, Inc. (A) | 27295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97716 |
| Gray Media, Inc. | 16949 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76779 |
| Ibotta, Inc., Class A (A)(B) | &nbsp;&nbsp;2543 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93074 |
| iHeartMedia, Inc., Class A (A)(B) | 24569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43241 |
| Integral Ad Science Holding Corp. (A) | 14760 | &nbsp;&nbsp;&nbsp;&nbsp;122656 |
| John Wiley & Sons, Inc., Class A | &nbsp;&nbsp;7844 | &nbsp;&nbsp;&nbsp;&nbsp;350078 |
| Magnite, Inc. (A) | 26711 | &nbsp;&nbsp;&nbsp;&nbsp;644269 |
| National CineMedia, Inc. | 12865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62331 |
| Nexxen International, Ltd. (A) | &nbsp;&nbsp;7457 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77627 |
| PubMatic, Inc., Class A (A) | &nbsp;&nbsp;8215 | &nbsp;&nbsp;&nbsp;&nbsp;102195 |
| Scholastic Corp. | &nbsp;&nbsp;4174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87571 |
| Sinclair, Inc. | &nbsp;&nbsp;7508 | &nbsp;&nbsp;&nbsp;&nbsp;103761 |
| Stagwell, Inc. (A)(B) | 22799 | &nbsp;&nbsp;&nbsp;&nbsp;102596 |
| TechTarget, Inc. (A) | &nbsp;&nbsp;6016 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46744 |
| TEGNA, Inc. | 30042 | &nbsp;&nbsp;&nbsp;&nbsp;503504 |
| The EW Scripps Company, Class A (A) | 12408 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36480 |
| Thryv Holdings, Inc. (A) | &nbsp;&nbsp;7315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88950 |
| WideOpenWest, Inc. (A) | 11390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46243 |
|  |  | &nbsp;&nbsp;&nbsp;3860290 |
| **Wireless telecommunication services – 0.2%** | **Wireless telecommunication services – 0.2%** |  |
| Gogo, Inc. (A) | 13298 | &nbsp;&nbsp;&nbsp;&nbsp;195215 |
| Spok Holdings, Inc. | &nbsp;&nbsp;4119 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72824 |
| Telephone & Data Systems, Inc. | 18735 | &nbsp;&nbsp;&nbsp;&nbsp;666591 |
| Tingo Group, Inc. (A) | 23160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;278 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;934908 |
|  |  | 12837399 |
| **Consumer discretionary – 9.7%** |  |  |
| **Automobile components – 1.2%** | **Automobile components – 1.2%** |  |
| Adient PLC (A) | 16191 | &nbsp;&nbsp;&nbsp;&nbsp;315077 |
| American Axle & Manufacturing Holdings, Inc. (A) | 23315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95125 |
| Cooper-Standard Holdings, Inc. (A) | &nbsp;&nbsp;3357 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72176 |
| Dana, Inc. | 25464 | &nbsp;&nbsp;&nbsp;&nbsp;436708 |
| Dorman Products, Inc. (A) | &nbsp;&nbsp;5280 | &nbsp;&nbsp;&nbsp;&nbsp;647698 |
| Fox Factory Holding Corp. (A) | &nbsp;&nbsp;8123 | &nbsp;&nbsp;&nbsp;&nbsp;210711 |
| Garrett Motion, Inc. | 24522 | &nbsp;&nbsp;&nbsp;&nbsp;257726 |
| Gentherm, Inc. (A) | &nbsp;&nbsp;5988 | &nbsp;&nbsp;&nbsp;&nbsp;169401 |
| LCI Industries | &nbsp;&nbsp;4674 | &nbsp;&nbsp;&nbsp;&nbsp;426222 |
| Modine Manufacturing Company (A) | &nbsp;&nbsp;9995 | &nbsp;&nbsp;&nbsp;&nbsp;984508 |
| Motorcar Parts of America, Inc. (A) | &nbsp;&nbsp;3741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41899 |
| Patrick Industries, Inc. (B) | &nbsp;&nbsp;6226 | &nbsp;&nbsp;&nbsp;&nbsp;574473 |
| PHINIA, Inc. | &nbsp;&nbsp;7510 | &nbsp;&nbsp;&nbsp;&nbsp;334120 |
| Solid Power, Inc. (A)(B) | 28712 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62879 |
| Standard Motor Products, Inc. | &nbsp;&nbsp;4175 | &nbsp;&nbsp;&nbsp;&nbsp;128256 |
| Strattec Security Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48399 |
| The Goodyear Tire & Rubber Company (A) | 49789 | &nbsp;&nbsp;&nbsp;&nbsp;516312 |
| Visteon Corp. (A) | &nbsp;&nbsp;5231 | &nbsp;&nbsp;&nbsp;&nbsp;488052 |
| XPEL, Inc. (A) | &nbsp;&nbsp;4676 | &nbsp;&nbsp;&nbsp;&nbsp;167868 |
|  |  | &nbsp;&nbsp;&nbsp;5977610 |
| **Automobiles – 0.0%** | **Automobiles – 0.0%** |  |
| Faraday Future Intelligent Electric, Inc. (A)(B) | 17399 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29230 |
| Livewire Group, Inc. (A)(B) | &nbsp;&nbsp;7406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34068 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 85 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Small Cap Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Automobiles (continued)** | **Automobiles (continued)** |  |
| Winnebago Industries, Inc. | &nbsp;&nbsp;5283 | $&nbsp;&nbsp;&nbsp;&nbsp;153207 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;216505 |
| **Broadline retail – 0.1%** | **Broadline retail – 0.1%** |  |
| Groupon, Inc. (A) | &nbsp;&nbsp;4801 | &nbsp;&nbsp;&nbsp;&nbsp;160593 |
| Kohl's Corp. | 20802 | &nbsp;&nbsp;&nbsp;&nbsp;176401 |
| Savers Value Village, Inc. (A)(B) | &nbsp;&nbsp;4776 | &nbsp;&nbsp;&nbsp;&nbsp;48715 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;385709 |
| **Distributors – 0.0%** | **Distributors – 0.0%** |  |
| A-Mark Precious Metals, Inc. | &nbsp;&nbsp;3681 | &nbsp;&nbsp;&nbsp;&nbsp;81645 |
| GigaCloud Technology, Inc., Class A (A) | &nbsp;&nbsp;5074 | &nbsp;&nbsp;&nbsp;&nbsp;100364 |
| Weyco Group, Inc. | &nbsp;&nbsp;1107 | &nbsp;&nbsp;&nbsp;&nbsp;36708 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;218717 |
| **Diversified consumer services – 1.3%** | **Diversified consumer services – 1.3%** |  |
| Adtalem Global Education, Inc. (A) | &nbsp;&nbsp;7018 | &nbsp;&nbsp;&nbsp;&nbsp;892900 |
| American Public Education, Inc. (A) | &nbsp;&nbsp;3379 | &nbsp;&nbsp;&nbsp;&nbsp;102924 |
| Carriage Services, Inc. | &nbsp;&nbsp;2737 | &nbsp;&nbsp;&nbsp;&nbsp;125190 |
| Coursera, Inc. (A) | 26411 | &nbsp;&nbsp;&nbsp;&nbsp;231360 |
| European Wax Center, Inc., Class A (A) | &nbsp;&nbsp;5933 | &nbsp;&nbsp;&nbsp;&nbsp;33403 |
| frontdoor, Inc. (A) | 14191 | &nbsp;&nbsp;&nbsp;&nbsp;836418 |
| Graham Holdings Company, Class B | &nbsp;&nbsp;&nbsp;&nbsp;604 | &nbsp;&nbsp;&nbsp;&nbsp;571487 |
| KinderCare Learning Cos, Inc. (A) | &nbsp;&nbsp;6248 | &nbsp;&nbsp;&nbsp;&nbsp;63105 |
| Laureate Education, Inc. (A) | 24538 | &nbsp;&nbsp;&nbsp;&nbsp;573698 |
| Lincoln Educational Services Corp. (A) | &nbsp;&nbsp;5857 | &nbsp;&nbsp;&nbsp;&nbsp;135004 |
| Matthews International Corp., Class A | &nbsp;&nbsp;5875 | &nbsp;&nbsp;&nbsp;&nbsp;140471 |
| Mister Car Wash, Inc. (A) | 19429 | &nbsp;&nbsp;&nbsp;&nbsp;116768 |
| OneSpaWorld Holdings, Ltd. | 18135 | &nbsp;&nbsp;&nbsp;&nbsp;369773 |
| Perdoceo Education Corp. | 11747 | &nbsp;&nbsp;&nbsp;&nbsp;384009 |
| Strategic Education, Inc. | &nbsp;&nbsp;4582 | &nbsp;&nbsp;&nbsp;&nbsp;390066 |
| Stride, Inc. (A) | &nbsp;&nbsp;8145 | 1182573 |
| Udemy, Inc. (A) | 18952 | &nbsp;&nbsp;&nbsp;&nbsp;133233 |
| Universal Technical Institute, Inc. (A) | &nbsp;&nbsp;8569 | &nbsp;&nbsp;&nbsp;&nbsp;290403 |
|  |  | 6572785 |
| **Hotels, restaurants and leisure – 2.2%** | **Hotels, restaurants and leisure – 2.2%** |  |
| Accel Entertainment, Inc. (A) | 10939 | &nbsp;&nbsp;&nbsp;&nbsp;128752 |
| Biglari Holdings, Inc., Class B (A) | &nbsp;&nbsp;&nbsp;&nbsp;143 | &nbsp;&nbsp;&nbsp;&nbsp;41786 |
| BJ's Restaurants, Inc. (A) | &nbsp;&nbsp;4082 | &nbsp;&nbsp;&nbsp;&nbsp;182057 |
| Bloomin' Brands, Inc. | 16168 | &nbsp;&nbsp;&nbsp;&nbsp;139206 |
| Brinker International, Inc. (A) | &nbsp;&nbsp;8434 | 1520903 |
| Cracker Barrel Old Country Store, Inc. | &nbsp;&nbsp;4238 | &nbsp;&nbsp;&nbsp;&nbsp;258857 |
| Dave & Buster's Entertainment, Inc. (A) | &nbsp;&nbsp;5228 | &nbsp;&nbsp;&nbsp;&nbsp;157258 |
| Denny's Corp. (A) | 10456 | &nbsp;&nbsp;&nbsp;&nbsp;42870 |
| Dine Brands Global, Inc. (B) | &nbsp;&nbsp;2824 | &nbsp;&nbsp;&nbsp;&nbsp;68708 |
| El Pollo Loco Holdings, Inc. (A) | &nbsp;&nbsp;5266 | &nbsp;&nbsp;&nbsp;&nbsp;57979 |
| Everi Holdings, Inc. (A) | 16363 | &nbsp;&nbsp;&nbsp;&nbsp;233009 |
| First Watch Restaurant Group, Inc. (A) | &nbsp;&nbsp;7902 | &nbsp;&nbsp;&nbsp;&nbsp;126748 |
| Genius Sports, Ltd. (A) | 42425 | &nbsp;&nbsp;&nbsp;&nbsp;441220 |
| Global Business Travel Group I (A) | 19351 | &nbsp;&nbsp;&nbsp;&nbsp;121911 |
| Golden Entertainment, Inc. | &nbsp;&nbsp;3732 | &nbsp;&nbsp;&nbsp;&nbsp;109833 |
| Hilton Grand Vacations, Inc. (A)(B) | 11621 | &nbsp;&nbsp;&nbsp;&nbsp;482620 |
| Inspired Entertainment, Inc. (A) | &nbsp;&nbsp;4606 | &nbsp;&nbsp;&nbsp;&nbsp;37631 |
| International Game Technology PLC | 21323 | &nbsp;&nbsp;&nbsp;&nbsp;337117 |
| Jack in the Box, Inc. (B) | &nbsp;&nbsp;3767 | &nbsp;&nbsp;&nbsp;&nbsp;65772 |
| Krispy Kreme, Inc. (B) | 15995 | &nbsp;&nbsp;&nbsp;&nbsp;46545 |
| Kura Sushi USA, Inc., Class A (A) | &nbsp;&nbsp;1220 | &nbsp;&nbsp;&nbsp;&nbsp;105018 |
| Life Time Group Holdings, Inc. (A) | 25866 | &nbsp;&nbsp;&nbsp;&nbsp;784516 |
| Lindblad Expeditions Holdings, Inc. (A) | &nbsp;&nbsp;7502 | &nbsp;&nbsp;&nbsp;&nbsp;87548 |
| Marriott Vacations Worldwide Corp. | &nbsp;&nbsp;6022 | &nbsp;&nbsp;&nbsp;&nbsp;435451 |
| Monarch Casino & Resort, Inc. | &nbsp;&nbsp;2412 | &nbsp;&nbsp;&nbsp;&nbsp;208493 |
| Nathan's Famous, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;556 | &nbsp;&nbsp;&nbsp;&nbsp;61482 |
| Papa John's International, Inc. | &nbsp;&nbsp;6253 | &nbsp;&nbsp;&nbsp;&nbsp;306022 |
| PlayAGS, Inc. (A) | &nbsp;&nbsp;7450 | &nbsp;&nbsp;&nbsp;&nbsp;93051 |
| Portillo's, Inc., Class A (A)(B) | 10964 | &nbsp;&nbsp;&nbsp;&nbsp;127950 |
| Potbelly Corp. (A) | &nbsp;&nbsp;4953 | &nbsp;&nbsp;&nbsp;&nbsp;60674 |
| Pursuit Attractions and Hospitality, Inc. (A) | &nbsp;&nbsp;4218 | &nbsp;&nbsp;&nbsp;&nbsp;121605 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Hotels, restaurants and leisure (continued)** | **Hotels, restaurants and leisure (continued)** |  |
| RCI Hospitality Holdings, Inc. | &nbsp;&nbsp;1565 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59658 |
| Red Rock Resorts, Inc., Class A | &nbsp;&nbsp;9216 | &nbsp;&nbsp;&nbsp;&nbsp;479508 |
| Rush Street Interactive, Inc. (A) | 16937 | &nbsp;&nbsp;&nbsp;&nbsp;252361 |
| Sabre Corp. (A) | 69932 | &nbsp;&nbsp;&nbsp;&nbsp;220985 |
| Serve Robotics, Inc. (A) | &nbsp;&nbsp;8995 | &nbsp;&nbsp;&nbsp;&nbsp;102903 |
| Shake Shack, Inc., Class A (A) | &nbsp;&nbsp;7391 | &nbsp;&nbsp;&nbsp;1039175 |
| Six Flags Entertainment Corp. (A) | 18292 | &nbsp;&nbsp;&nbsp;&nbsp;556626 |
| Super Group SGHC, Ltd. | 30572 | &nbsp;&nbsp;&nbsp;&nbsp;335375 |
| Sweetgreen, Inc., Class A (A)(B) | 19816 | &nbsp;&nbsp;&nbsp;&nbsp;294862 |
| Target Hospitality Corp. (A) | &nbsp;&nbsp;6677 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47540 |
| The Cheesecake Factory, Inc. (B) | &nbsp;&nbsp;8698 | &nbsp;&nbsp;&nbsp;&nbsp;545017 |
| United Parks & Resorts, Inc. (A)(B) | &nbsp;&nbsp;5118 | &nbsp;&nbsp;&nbsp;&nbsp;241314 |
| Xponential Fitness, Inc., Class A (A) | &nbsp;&nbsp;5596 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41914 |
|  |  | 11209830 |
| **Household durables – 1.7%** | **Household durables – 1.7%** |  |
| Beazer Homes USA, Inc. (A) | &nbsp;&nbsp;5669 | &nbsp;&nbsp;&nbsp;&nbsp;126816 |
| Cavco Industries, Inc. (A) | &nbsp;&nbsp;1463 | &nbsp;&nbsp;&nbsp;&nbsp;635571 |
| Century Communities, Inc. | &nbsp;&nbsp;5133 | &nbsp;&nbsp;&nbsp;&nbsp;289091 |
| Champion Homes, Inc. (A) | 10382 | &nbsp;&nbsp;&nbsp;&nbsp;650017 |
| Cricut, Inc., Class A (B) | &nbsp;&nbsp;9586 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64897 |
| Dream Finders Homes, Inc., Class A (A)(B) | &nbsp;&nbsp;5982 | &nbsp;&nbsp;&nbsp;&nbsp;150328 |
| Ethan Allen Interiors, Inc. | &nbsp;&nbsp;4742 | &nbsp;&nbsp;&nbsp;&nbsp;132065 |
| Flexsteel Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29617 |
| Green Brick Partners, Inc. (A) | &nbsp;&nbsp;6124 | &nbsp;&nbsp;&nbsp;&nbsp;385077 |
| Hamilton Beach Brands Holding Company, Class B | &nbsp;&nbsp;1197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21414 |
| Helen of Troy, Ltd. (A) | &nbsp;&nbsp;4519 | &nbsp;&nbsp;&nbsp;&nbsp;128249 |
| Hovnanian Enterprises, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99532 |
| Installed Building Products, Inc. (B) | &nbsp;&nbsp;4479 | &nbsp;&nbsp;&nbsp;&nbsp;807653 |
| KB Home | 13189 | &nbsp;&nbsp;&nbsp;&nbsp;698621 |
| La-Z-Boy, Inc. | &nbsp;&nbsp;8066 | &nbsp;&nbsp;&nbsp;&nbsp;299813 |
| Legacy Housing Corp. (A)(B) | &nbsp;&nbsp;2066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46816 |
| Leggett & Platt, Inc. | 26137 | &nbsp;&nbsp;&nbsp;&nbsp;233142 |
| LGI Homes, Inc. (A) | &nbsp;&nbsp;4127 | &nbsp;&nbsp;&nbsp;&nbsp;212623 |
| M/I Homes, Inc. (A) | &nbsp;&nbsp;5039 | &nbsp;&nbsp;&nbsp;&nbsp;564973 |
| Meritage Homes Corp. | 13437 | &nbsp;&nbsp;&nbsp;&nbsp;899876 |
| Sonos, Inc. (A) | 22976 | &nbsp;&nbsp;&nbsp;&nbsp;248371 |
| Taylor Morrison Home Corp. (A) | 18621 | &nbsp;&nbsp;&nbsp;1143702 |
| The Lovesac Company (A) | &nbsp;&nbsp;2767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50359 |
| Tri Pointe Homes, Inc. (A) | 17120 | &nbsp;&nbsp;&nbsp;&nbsp;546984 |
|  |  | &nbsp;&nbsp;&nbsp;8465607 |
| **Leisure products – 0.4%** | **Leisure products – 0.4%** |  |
| Acushnet Holdings Corp. (B) | &nbsp;&nbsp;5422 | &nbsp;&nbsp;&nbsp;&nbsp;394830 |
| Escalade, Inc. | &nbsp;&nbsp;1960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27401 |
| Funko, Inc., Class A (A) | &nbsp;&nbsp;7124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33910 |
| JAKKS Pacific, Inc. | &nbsp;&nbsp;1809 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37591 |
| Johnson Outdoors, Inc., Class A | &nbsp;&nbsp;1040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31481 |
| Latham Group, Inc. (A) | &nbsp;&nbsp;8999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57414 |
| Malibu Boats, Inc., Class A (A) | &nbsp;&nbsp;3747 | &nbsp;&nbsp;&nbsp;&nbsp;117431 |
| MasterCraft Boat Holdings, Inc. (A) | &nbsp;&nbsp;3638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67594 |
| Peloton Interactive, Inc., Class A (A) | 70673 | &nbsp;&nbsp;&nbsp;&nbsp;490471 |
| Polaris, Inc. | 10264 | &nbsp;&nbsp;&nbsp;&nbsp;417232 |
| Smith & Wesson Brands, Inc. | &nbsp;&nbsp;8850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76818 |
| Sturm Ruger & Company, Inc. | &nbsp;&nbsp;3168 | &nbsp;&nbsp;&nbsp;&nbsp;113731 |
| Topgolf Callaway Brands Corp. (A) | 25564 | &nbsp;&nbsp;&nbsp;&nbsp;205790 |
|  |  | &nbsp;&nbsp;&nbsp;2071694 |
| **Specialty retail – 2.2%** | **Specialty retail – 2.2%** |  |
| Abercrombie & Fitch Company, Class A (A) | &nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;745650 |
| Academy Sports & Outdoors, Inc. | 12642 | &nbsp;&nbsp;&nbsp;&nbsp;566488 |
| Advance Auto Parts, Inc. | 11522 | &nbsp;&nbsp;&nbsp;&nbsp;535658 |
| American Eagle Outfitters, Inc. | 30989 | &nbsp;&nbsp;&nbsp;&nbsp;298114 |
| America's Car-Mart, Inc. (A) | &nbsp;&nbsp;1494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83724 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 86 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Small Cap Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Specialty retail (continued)** | **Specialty retail (continued)** |  |
| Arhaus, Inc. (A) | 10034 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86995 |
| Arko Corp. (B) | 15867 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67117 |
| Asbury Automotive Group, Inc. (A) | &nbsp;&nbsp;3737 | &nbsp;&nbsp;&nbsp;&nbsp;891424 |
| Barnes & Noble Education, Inc. (A) | &nbsp;&nbsp;2951 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34733 |
| Beyond, Inc. (A) | 10854 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74676 |
| Boot Barn Holdings, Inc. (A) | &nbsp;&nbsp;5878 | &nbsp;&nbsp;&nbsp;&nbsp;893456 |
| Build-A-Bear Workshop, Inc. | &nbsp;&nbsp;2445 | &nbsp;&nbsp;&nbsp;&nbsp;126064 |
| Caleres, Inc. | &nbsp;&nbsp;6562 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80188 |
| Camping World Holdings, Inc., Class A | 11574 | &nbsp;&nbsp;&nbsp;&nbsp;198957 |
| Citi Trends, Inc. (A) | &nbsp;&nbsp;1052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35126 |
| EVgo, Inc. (A)(B) | 25006 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91272 |
| Foot Locker, Inc. (A) | 16392 | &nbsp;&nbsp;&nbsp;&nbsp;401604 |
| Genesco, Inc. (A) | &nbsp;&nbsp;2080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40955 |
| Group 1 Automotive, Inc. | &nbsp;&nbsp;2393 | &nbsp;&nbsp;&nbsp;1045047 |
| Haverty Furniture Companies, Inc. | &nbsp;&nbsp;2824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57468 |
| Lands' End, Inc. (A) | &nbsp;&nbsp;2693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28842 |
| MarineMax, Inc. (A) | &nbsp;&nbsp;3695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92892 |
| Monro, Inc. | &nbsp;&nbsp;5982 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89192 |
| National Vision Holdings, Inc. (A) | 14897 | &nbsp;&nbsp;&nbsp;&nbsp;342780 |
| OneWater Marine, Inc., Class A (A)(B) | &nbsp;&nbsp;2446 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32752 |
| Petco Health & Wellness Company, Inc. (A)(B) | 14946 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42297 |
| Revolve Group, Inc. (A) | &nbsp;&nbsp;7844 | &nbsp;&nbsp;&nbsp;&nbsp;157272 |
| Sally Beauty Holdings, Inc. (A) | 19849 | &nbsp;&nbsp;&nbsp;&nbsp;183802 |
| Shoe Carnival, Inc. (B) | &nbsp;&nbsp;3568 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66757 |
| Signet Jewelers, Ltd. | &nbsp;&nbsp;7939 | &nbsp;&nbsp;&nbsp;&nbsp;631547 |
| Sleep Number Corp. (A) | &nbsp;&nbsp;4323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29202 |
| Sonic Automotive, Inc., Class A | &nbsp;&nbsp;2826 | &nbsp;&nbsp;&nbsp;&nbsp;225882 |
| Stitch Fix, Inc., Class A (A) | 21416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79239 |
| The Buckle, Inc. | &nbsp;&nbsp;6047 | &nbsp;&nbsp;&nbsp;&nbsp;274231 |
| The ODP Corp. (A) | &nbsp;&nbsp;5396 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97829 |
| The RealReal, Inc. (A)(B) | 18262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87475 |
| ThredUp, Inc., Class A (A) | 17637 | &nbsp;&nbsp;&nbsp;&nbsp;132101 |
| Tile Shop Holdings, Inc. (A) | &nbsp;&nbsp;6125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38955 |
| Upbound Group, Inc. | 10185 | &nbsp;&nbsp;&nbsp;&nbsp;255644 |
| Urban Outfitters, Inc. (A) | 12077 | &nbsp;&nbsp;&nbsp;&nbsp;876066 |
| Victoria's Secret & Company (A) | 13114 | &nbsp;&nbsp;&nbsp;&nbsp;242871 |
| Warby Parker, Inc., Class A (A) | 18887 | &nbsp;&nbsp;&nbsp;&nbsp;414192 |
| Winmark Corp. | &nbsp;&nbsp;&nbsp;&nbsp;583 | &nbsp;&nbsp;&nbsp;&nbsp;220147 |
| Zumiez, Inc. (A) | &nbsp;&nbsp;3458 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45853 |
|  |  | 11042536 |
| **Textiles, apparel and luxury goods – 0.6%** | **Textiles, apparel and luxury goods – 0.6%** |  |
| Capri Holdings, Ltd. (A) | 22375 | &nbsp;&nbsp;&nbsp;&nbsp;396038 |
| Carter's, Inc. | &nbsp;&nbsp;6835 | &nbsp;&nbsp;&nbsp;&nbsp;205939 |
| Ermenegildo Zegna NV | 12464 | &nbsp;&nbsp;&nbsp;&nbsp;106567 |
| Figs, Inc., Class A (A) | 17372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97978 |
| G-III Apparel Group, Ltd. (A) | &nbsp;&nbsp;7546 | &nbsp;&nbsp;&nbsp;&nbsp;169030 |
| Hanesbrands, Inc. (A) | 67231 | &nbsp;&nbsp;&nbsp;&nbsp;307918 |
| Kontoor Brands, Inc. | 10509 | &nbsp;&nbsp;&nbsp;&nbsp;693279 |
| Lakeland Industries, Inc. | &nbsp;&nbsp;2238 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30459 |
| Movado Group, Inc. | &nbsp;&nbsp;2960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45140 |
| Oxford Industries, Inc. (B) | &nbsp;&nbsp;2729 | &nbsp;&nbsp;&nbsp;&nbsp;109842 |
| Rocky Brands, Inc. | &nbsp;&nbsp;1405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31177 |
| Steven Madden, Ltd. | 13319 | &nbsp;&nbsp;&nbsp;&nbsp;319390 |
| Superior Group of Companies, Inc. | &nbsp;&nbsp;2714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27954 |
| Wolverine World Wide, Inc. | 15480 | &nbsp;&nbsp;&nbsp;&nbsp;279878 |
|  |  | &nbsp;&nbsp;&nbsp;2820589 |
|  |  | 48981582 |
| **Consumer staples – 2.2%** |  |  |
| **Beverages – 0.1%** | **Beverages – 0.1%** |  |
| MGP Ingredients, Inc. | &nbsp;&nbsp;2709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81189 |
| National Beverage Corp. (A) | &nbsp;&nbsp;4769 | &nbsp;&nbsp;&nbsp;&nbsp;206212 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Beverages (continued)** | **Beverages (continued)** |  |
| The Vita Coco Company, Inc. (A) | &nbsp;&nbsp;7723 | $&nbsp;&nbsp;&nbsp;&nbsp;278800 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;566201 |
| **Consumer staples distribution and retail – 0.5%** | **Consumer staples distribution and retail – 0.5%** |  |
| Grocery Outlet Holding Corp. (A) | 18221 | &nbsp;&nbsp;&nbsp;&nbsp;226305 |
| Guardian Pharmacy Services, Inc., Class A (A) | &nbsp;&nbsp;2635 | &nbsp;&nbsp;&nbsp;&nbsp;56152 |
| Ingles Markets, Inc., Class A | &nbsp;&nbsp;2773 | &nbsp;&nbsp;&nbsp;&nbsp;175753 |
| Natural Grocers by Vitamin Cottage, Inc. | &nbsp;&nbsp;2574 | &nbsp;&nbsp;&nbsp;&nbsp;101030 |
| PriceSmart, Inc. | &nbsp;&nbsp;4904 | &nbsp;&nbsp;&nbsp;&nbsp;515116 |
| SpartanNash Company | &nbsp;&nbsp;6682 | &nbsp;&nbsp;&nbsp;&nbsp;177006 |
| The Andersons, Inc. | &nbsp;&nbsp;6287 | &nbsp;&nbsp;&nbsp;&nbsp;231047 |
| The Chefs' Warehouse, Inc. (A) | &nbsp;&nbsp;6949 | &nbsp;&nbsp;&nbsp;&nbsp;443416 |
| United Natural Foods, Inc. (A) | 11532 | &nbsp;&nbsp;&nbsp;&nbsp;268811 |
| Village Super Market, Inc., Class A | &nbsp;&nbsp;1897 | &nbsp;&nbsp;&nbsp;&nbsp;73035 |
| Weis Markets, Inc. (B) | &nbsp;&nbsp;3223 | &nbsp;&nbsp;&nbsp;&nbsp;233635 |
|  |  | 2501306 |
| **Food products – 0.9%** | **Food products – 0.9%** |  |
| Alico, Inc. | &nbsp;&nbsp;1272 | &nbsp;&nbsp;&nbsp;&nbsp;41569 |
| B&G Foods, Inc. (B) | 15134 | &nbsp;&nbsp;&nbsp;&nbsp;64017 |
| Beyond Meat, Inc. (A)(B) | 14964 | &nbsp;&nbsp;&nbsp;&nbsp;52224 |
| Calavo Growers, Inc. | &nbsp;&nbsp;3301 | &nbsp;&nbsp;&nbsp;&nbsp;87774 |
| Cal-Maine Foods, Inc. | &nbsp;&nbsp;8733 | &nbsp;&nbsp;&nbsp;&nbsp;870069 |
| Dole PLC | 12740 | &nbsp;&nbsp;&nbsp;&nbsp;178233 |
| Fresh Del Monte Produce, Inc. | &nbsp;&nbsp;6275 | &nbsp;&nbsp;&nbsp;&nbsp;203436 |
| J&J Snack Foods Corp. | &nbsp;&nbsp;2992 | &nbsp;&nbsp;&nbsp;&nbsp;339323 |
| John B Sanfilippo & Son, Inc. | &nbsp;&nbsp;1476 | &nbsp;&nbsp;&nbsp;&nbsp;93342 |
| Lancaster Colony Corp. | &nbsp;&nbsp;3815 | &nbsp;&nbsp;&nbsp;&nbsp;659118 |
| Limoneira Company | &nbsp;&nbsp;3676 | &nbsp;&nbsp;&nbsp;&nbsp;57529 |
| Mama's Creations, Inc. (A) | &nbsp;&nbsp;7029 | &nbsp;&nbsp;&nbsp;&nbsp;58341 |
| Mission Produce, Inc. (A) | &nbsp;&nbsp;9494 | &nbsp;&nbsp;&nbsp;&nbsp;111270 |
| Seneca Foods Corp., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;886 | &nbsp;&nbsp;&nbsp;&nbsp;89867 |
| SunOpta, Inc. (A) | 18897 | &nbsp;&nbsp;&nbsp;&nbsp;109603 |
| The Hain Celestial Group, Inc. (A) | 19198 | &nbsp;&nbsp;&nbsp;&nbsp;29181 |
| The Simply Good Foods Company (A) | 17809 | &nbsp;&nbsp;&nbsp;&nbsp;562586 |
| Tootsie Roll Industries, Inc. | &nbsp;&nbsp;3547 | &nbsp;&nbsp;&nbsp;&nbsp;118647 |
| TreeHouse Foods, Inc. (A) | &nbsp;&nbsp;9568 | &nbsp;&nbsp;&nbsp;&nbsp;185811 |
| Utz Brands, Inc. | 13909 | &nbsp;&nbsp;&nbsp;&nbsp;174558 |
| Vital Farms, Inc. (A) | &nbsp;&nbsp;6609 | &nbsp;&nbsp;&nbsp;&nbsp;254579 |
| Westrock Coffee Company (A)(B) | &nbsp;&nbsp;7656 | &nbsp;&nbsp;&nbsp;&nbsp;43869 |
| WK Kellogg Company (B) | 11922 | &nbsp;&nbsp;&nbsp;&nbsp;190037 |
|  |  | 4574983 |
| **Household products – 0.3%** | **Household products – 0.3%** |  |
| Central Garden & Pet Company (A) | &nbsp;&nbsp;1057 | &nbsp;&nbsp;&nbsp;&nbsp;37185 |
| Central Garden & Pet Company, Class A (A) | 10824 | &nbsp;&nbsp;&nbsp;&nbsp;338683 |
| Energizer Holdings, Inc. | 12607 | &nbsp;&nbsp;&nbsp;&nbsp;254157 |
| Oil-Dri Corp. of America | &nbsp;&nbsp;1971 | &nbsp;&nbsp;&nbsp;&nbsp;116269 |
| Spectrum Brands Holdings, Inc. | &nbsp;&nbsp;4826 | &nbsp;&nbsp;&nbsp;&nbsp;255778 |
| WD-40 Company | &nbsp;&nbsp;2594 | &nbsp;&nbsp;&nbsp;&nbsp;591665 |
|  |  | 1593737 |
| **Personal care products – 0.3%** | **Personal care products – 0.3%** |  |
| Edgewell Personal Care Company | &nbsp;&nbsp;8943 | &nbsp;&nbsp;&nbsp;&nbsp;209356 |
| Herbalife, Ltd. (A) | 19754 | &nbsp;&nbsp;&nbsp;&nbsp;170279 |
| Interparfums, Inc. | &nbsp;&nbsp;3476 | &nbsp;&nbsp;&nbsp;&nbsp;456434 |
| Lifevantage Corp. | &nbsp;&nbsp;2215 | &nbsp;&nbsp;&nbsp;&nbsp;28972 |
| Medifast, Inc. (A) | &nbsp;&nbsp;2322 | &nbsp;&nbsp;&nbsp;&nbsp;32624 |
| Nature's Sunshine Products, Inc. (A) | &nbsp;&nbsp;2446 | &nbsp;&nbsp;&nbsp;&nbsp;36176 |
| Nu Skin Enterprises, Inc., Class A | &nbsp;&nbsp;9428 | &nbsp;&nbsp;&nbsp;&nbsp;75330 |
| Olaplex Holdings, Inc. (A)(B) | 28920 | &nbsp;&nbsp;&nbsp;&nbsp;40488 |
| The Beauty Health Company (A)(B) | 23375 | &nbsp;&nbsp;&nbsp;&nbsp;44646 |
| The Honest Company, Inc. (A) | 17927 | &nbsp;&nbsp;&nbsp;&nbsp;91248 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 87 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Small Cap Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Personal care products (continued)** | **Personal care products (continued)** |  |
| USANA Health Sciences, Inc. (A) | &nbsp;&nbsp;&nbsp;2220 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67777 |
|  |  | &nbsp;&nbsp;&nbsp;1253330 |
| **Tobacco – 0.1%** | **Tobacco – 0.1%** |  |
| Turning Point Brands, Inc. | &nbsp;&nbsp;&nbsp;3315 | &nbsp;&nbsp;&nbsp;&nbsp;251178 |
| Universal Corp. | &nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;267904 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;519082 |
|  |  | 11008639 |
| **Energy – 4.7%** |  |  |
| **Energy equipment and services – 1.7%** | **Energy equipment and services – 1.7%** |  |
| Archrock, Inc. | &nbsp;&nbsp;31419 | &nbsp;&nbsp;&nbsp;&nbsp;780134 |
| Aris Water Solutions, Inc., Class A | &nbsp;&nbsp;&nbsp;5959 | &nbsp;&nbsp;&nbsp;&nbsp;140930 |
| Atlas Energy Solutions, Inc. (B) | &nbsp;&nbsp;14927 | &nbsp;&nbsp;&nbsp;&nbsp;199574 |
| Borr Drilling, Ltd. (A)(B) | &nbsp;&nbsp;43459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79530 |
| Bristow Group, Inc. (A) | &nbsp;&nbsp;&nbsp;5561 | &nbsp;&nbsp;&nbsp;&nbsp;183346 |
| Cactus, Inc., Class A | &nbsp;&nbsp;13003 | &nbsp;&nbsp;&nbsp;&nbsp;568491 |
| ChampionX Corp. | &nbsp;&nbsp;36240 | &nbsp;&nbsp;&nbsp;&nbsp;900202 |
| Core Laboratories, Inc. | &nbsp;&nbsp;&nbsp;9578 | &nbsp;&nbsp;&nbsp;&nbsp;110339 |
| DMC Global, Inc. (A) | &nbsp;&nbsp;&nbsp;4045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32603 |
| Expro Group Holdings NV (A) | &nbsp;&nbsp;19881 | &nbsp;&nbsp;&nbsp;&nbsp;170778 |
| Flowco Holdings, Inc., Class A | &nbsp;&nbsp;&nbsp;3873 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68978 |
| Forum Energy Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;2425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47215 |
| Helix Energy Solutions Group, Inc. (A) | &nbsp;&nbsp;27075 | &nbsp;&nbsp;&nbsp;&nbsp;168948 |
| Helmerich & Payne, Inc. | &nbsp;&nbsp;18276 | &nbsp;&nbsp;&nbsp;&nbsp;277064 |
| Innovex International, Inc. (A) | &nbsp;&nbsp;&nbsp;7675 | &nbsp;&nbsp;&nbsp;&nbsp;119884 |
| Kodiak Gas Services, Inc. | &nbsp;&nbsp;10285 | &nbsp;&nbsp;&nbsp;&nbsp;352467 |
| Liberty Energy, Inc. | &nbsp;&nbsp;29994 | &nbsp;&nbsp;&nbsp;&nbsp;344331 |
| Nabors Industries, Ltd. (A)(B) | &nbsp;&nbsp;&nbsp;2826 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79185 |
| National Energy Services Reunited Corp. (A)(B) | &nbsp;&nbsp;11901 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71644 |
| Natural Gas Services Group, Inc. (A) | &nbsp;&nbsp;&nbsp;2011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51904 |
| Noble Corp. PLC | &nbsp;&nbsp;23938 | &nbsp;&nbsp;&nbsp;&nbsp;635554 |
| Oceaneering International, Inc. (A) | &nbsp;&nbsp;18045 | &nbsp;&nbsp;&nbsp;&nbsp;373892 |
| Oil States International, Inc. (A) | &nbsp;&nbsp;11547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61892 |
| Patterson-UTI Energy, Inc. | &nbsp;&nbsp;67245 | &nbsp;&nbsp;&nbsp;&nbsp;398763 |
| ProPetro Holding Corp. (A) | &nbsp;&nbsp;15703 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93747 |
| Ranger Energy Services, Inc., Class A | &nbsp;&nbsp;&nbsp;3886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46399 |
| RPC, Inc. | &nbsp;&nbsp;18048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85367 |
| Seadrill, Ltd. (A) | &nbsp;&nbsp;11969 | &nbsp;&nbsp;&nbsp;&nbsp;314186 |
| Select Water Solutions, Inc. | &nbsp;&nbsp;18137 | &nbsp;&nbsp;&nbsp;&nbsp;156704 |
| Solaris Energy Infrastructure, Inc. | &nbsp;&nbsp;&nbsp;7052 | &nbsp;&nbsp;&nbsp;&nbsp;199501 |
| TETRA Technologies, Inc. (A) | &nbsp;&nbsp;26154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87877 |
| Tidewater, Inc. (A) | &nbsp;&nbsp;&nbsp;9640 | &nbsp;&nbsp;&nbsp;&nbsp;444693 |
| Transocean, Ltd. (A)(B) | 142788 | &nbsp;&nbsp;&nbsp;&nbsp;369821 |
| Valaris, Ltd. (A) | &nbsp;&nbsp;12107 | &nbsp;&nbsp;&nbsp;&nbsp;509826 |
|  |  | &nbsp;&nbsp;&nbsp;8525769 |
| **Oil, gas and consumable fuels – 3.0%** | **Oil, gas and consumable fuels – 3.0%** |  |
| Ardmore Shipping Corp. | &nbsp;&nbsp;&nbsp;6553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62909 |
| Berry Corp. | &nbsp;&nbsp;16888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46780 |
| BKV Corp. (A) | &nbsp;&nbsp;&nbsp;3407 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82177 |
| California Resources Corp. | &nbsp;&nbsp;12476 | &nbsp;&nbsp;&nbsp;&nbsp;569779 |
| Calumet, Inc. (A) | &nbsp;&nbsp;13332 | &nbsp;&nbsp;&nbsp;&nbsp;210046 |
| Centrus Energy Corp., Class A (A) | &nbsp;&nbsp;&nbsp;2829 | &nbsp;&nbsp;&nbsp;&nbsp;518216 |
| Clean Energy Fuels Corp. (A) | &nbsp;&nbsp;34875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68006 |
| CNX Resources Corp. (A) | &nbsp;&nbsp;27188 | &nbsp;&nbsp;&nbsp;&nbsp;915692 |
| Comstock Resources, Inc. (A)(B) | &nbsp;&nbsp;14229 | &nbsp;&nbsp;&nbsp;&nbsp;393716 |
| Core Natural Resources, Inc. | &nbsp;&nbsp;10093 | &nbsp;&nbsp;&nbsp;&nbsp;703886 |
| Crescent Energy Company, Class A | &nbsp;&nbsp;34115 | &nbsp;&nbsp;&nbsp;&nbsp;293389 |
| CVR Energy, Inc. | &nbsp;&nbsp;&nbsp;5995 | &nbsp;&nbsp;&nbsp;&nbsp;160966 |
| Delek US Holdings, Inc. | &nbsp;&nbsp;11726 | &nbsp;&nbsp;&nbsp;&nbsp;248357 |
| DHT Holdings, Inc. | &nbsp;&nbsp;24271 | &nbsp;&nbsp;&nbsp;&nbsp;262370 |
| Diversified Energy Company PLC | &nbsp;&nbsp;10789 | &nbsp;&nbsp;&nbsp;&nbsp;158275 |
| Dorian LPG, Ltd. | &nbsp;&nbsp;&nbsp;7069 | &nbsp;&nbsp;&nbsp;&nbsp;172342 |
| Encore Energy Corp. (A) | &nbsp;&nbsp;36597 | &nbsp;&nbsp;&nbsp;&nbsp;104667 |
| Energy Fuels, Inc. (A)(B) | &nbsp;&nbsp;40187 | &nbsp;&nbsp;&nbsp;&nbsp;231075 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Oil, gas and consumable fuels (continued)** | **Oil, gas and consumable fuels (continued)** |  |
| Epsilon Energy, Ltd. | &nbsp;&nbsp;4864 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35896 |
| Evolution Petroleum Corp. (B) | &nbsp;&nbsp;6994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32872 |
| Excelerate Energy, Inc., Class A | &nbsp;&nbsp;4455 | &nbsp;&nbsp;&nbsp;&nbsp;130621 |
| FLEX LNG, Ltd. (New York Stock Exchange) | &nbsp;&nbsp;5848 | &nbsp;&nbsp;&nbsp;&nbsp;128539 |
| Gevo, Inc. (A) | 45530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60100 |
| Golar LNG, Ltd. | 19019 | &nbsp;&nbsp;&nbsp;&nbsp;783393 |
| Granite Ridge Resources, Inc. | 11810 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75230 |
| Green Plains, Inc. (A) | 12688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76509 |
| Gulfport Energy Corp. (A) | &nbsp;&nbsp;2899 | &nbsp;&nbsp;&nbsp;&nbsp;583192 |
| Hallador Energy Company (A) | &nbsp;&nbsp;6051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95787 |
| HighPeak Energy, Inc. (B) | &nbsp;&nbsp;4007 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39269 |
| Infinity Natural Resources, Inc., Class A (A) | &nbsp;&nbsp;3062 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56065 |
| International Seaways, Inc. | &nbsp;&nbsp;7656 | &nbsp;&nbsp;&nbsp;&nbsp;279291 |
| Kinetik Holdings, Inc. | &nbsp;&nbsp;8461 | &nbsp;&nbsp;&nbsp;&nbsp;372707 |
| Kosmos Energy, Ltd. (A) | 94140 | &nbsp;&nbsp;&nbsp;&nbsp;161921 |
| Lightbridge Corp. (A) | &nbsp;&nbsp;3652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48827 |
| Magnolia Oil & Gas Corp., Class A (B) | 35249 | &nbsp;&nbsp;&nbsp;&nbsp;792398 |
| Murphy Oil Corp. (B) | 25549 | &nbsp;&nbsp;&nbsp;&nbsp;574853 |
| NACCO Industries, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;786 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34828 |
| Navigator Holdings, Ltd. | &nbsp;&nbsp;6323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89470 |
| New Fortress Energy, Inc. | 33226 | &nbsp;&nbsp;&nbsp;&nbsp;110310 |
| NextDecade Corp. (A) | 25872 | &nbsp;&nbsp;&nbsp;&nbsp;230520 |
| Nordic American Tankers, Ltd. (B) | 39781 | &nbsp;&nbsp;&nbsp;&nbsp;104624 |
| Northern Oil and Gas, Inc. | 17470 | &nbsp;&nbsp;&nbsp;&nbsp;495275 |
| Par Pacific Holdings, Inc. (A) | 10260 | &nbsp;&nbsp;&nbsp;&nbsp;272198 |
| PBF Energy, Inc., Class A | 16057 | &nbsp;&nbsp;&nbsp;&nbsp;347955 |
| Peabody Energy Corp. | 23187 | &nbsp;&nbsp;&nbsp;&nbsp;311170 |
| REX American Resources Corp. (A) | &nbsp;&nbsp;2867 | &nbsp;&nbsp;&nbsp;&nbsp;139652 |
| Riley Exploration Permian, Inc. | &nbsp;&nbsp;2682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70349 |
| Sable Offshore Corp. (A) | 13155 | &nbsp;&nbsp;&nbsp;&nbsp;289147 |
| SandRidge Energy, Inc. | &nbsp;&nbsp;7385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79906 |
| Scorpio Tankers, Inc. | &nbsp;&nbsp;8261 | &nbsp;&nbsp;&nbsp;&nbsp;323253 |
| SFL Corp., Ltd. (B) | 23349 | &nbsp;&nbsp;&nbsp;&nbsp;194497 |
| Sitio Royalties Corp., Class A | 15180 | &nbsp;&nbsp;&nbsp;&nbsp;279008 |
| SM Energy Company | 21646 | &nbsp;&nbsp;&nbsp;&nbsp;534873 |
| Summit Midstream Corp. (A) | &nbsp;&nbsp;1956 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47981 |
| Talos Energy, Inc. (A) | 23658 | &nbsp;&nbsp;&nbsp;&nbsp;200620 |
| Teekay Corp., Ltd. (B) | &nbsp;&nbsp;9891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81601 |
| Teekay Tankers, Ltd., Class A | &nbsp;&nbsp;4576 | &nbsp;&nbsp;&nbsp;&nbsp;190911 |
| Uranium Energy Corp. (A) | 81607 | &nbsp;&nbsp;&nbsp;&nbsp;554928 |
| VAALCO Energy, Inc. (B) | 21190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76496 |
| Vital Energy, Inc. (A) | &nbsp;&nbsp;5825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93724 |
| Vitesse Energy, Inc. | &nbsp;&nbsp;5755 | &nbsp;&nbsp;&nbsp;&nbsp;127128 |
| W&T Offshore, Inc. (B) | 21085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34790 |
| World Kinect Corp. | 10425 | &nbsp;&nbsp;&nbsp;&nbsp;295549 |
|  |  | 15140881 |
|  |  | 23666650 |
| **Financials – 18.6%** |  |  |
| **Banks – 10.1%** | **Banks – 10.1%** |  |
| 1st Source Corp. | &nbsp;&nbsp;3644 | &nbsp;&nbsp;&nbsp;&nbsp;226183 |
| ACNB Corp. | &nbsp;&nbsp;2094 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89707 |
| Amalgamated Financial Corp. | &nbsp;&nbsp;4571 | &nbsp;&nbsp;&nbsp;&nbsp;142615 |
| Amerant Bancorp, Inc. | &nbsp;&nbsp;7620 | &nbsp;&nbsp;&nbsp;&nbsp;138913 |
| Ameris Bancorp | 12337 | &nbsp;&nbsp;&nbsp;&nbsp;798204 |
| Ames National Corp. | &nbsp;&nbsp;1851 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32966 |
| Arrow Financial Corp. | &nbsp;&nbsp;3602 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95165 |
| Associated Banc-Corp. | 30271 | &nbsp;&nbsp;&nbsp;&nbsp;738310 |
| Atlantic Union Bankshares Corp. | 27082 | &nbsp;&nbsp;&nbsp;&nbsp;847125 |
| Axos Financial, Inc. (A) | &nbsp;&nbsp;9841 | &nbsp;&nbsp;&nbsp;&nbsp;748310 |
| Banc of California, Inc. | 25594 | &nbsp;&nbsp;&nbsp;&nbsp;359596 |
| BancFirst Corp. | &nbsp;&nbsp;4013 | &nbsp;&nbsp;&nbsp;&nbsp;496087 |
| Bank First Corp. | &nbsp;&nbsp;1840 | &nbsp;&nbsp;&nbsp;&nbsp;216476 |
| Bank of Hawaii Corp. | &nbsp;&nbsp;7326 | &nbsp;&nbsp;&nbsp;&nbsp;494725 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 88 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Small Cap Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Banks (continued)** | **Banks (continued)** |  |
| Bank of Marin Bancorp | &nbsp;&nbsp;3189 | $&nbsp;&nbsp;&nbsp;&nbsp;72837 |
| Bank7 Corp. | &nbsp;&nbsp;&nbsp;&nbsp;932 | &nbsp;&nbsp;&nbsp;&nbsp;38986 |
| BankUnited, Inc. | 13962 | &nbsp;&nbsp;&nbsp;&nbsp;496908 |
| Bankwell Financial Group, Inc. | &nbsp;&nbsp;1480 | &nbsp;&nbsp;&nbsp;&nbsp;53324 |
| Banner Corp. | &nbsp;&nbsp;6303 | &nbsp;&nbsp;&nbsp;&nbsp;404337 |
| Bar Harbor Bankshares | &nbsp;&nbsp;3219 | &nbsp;&nbsp;&nbsp;&nbsp;96441 |
| BayCom Corp. | &nbsp;&nbsp;2426 | &nbsp;&nbsp;&nbsp;&nbsp;67224 |
| BCB Bancorp, Inc. | &nbsp;&nbsp;4324 | &nbsp;&nbsp;&nbsp;&nbsp;36408 |
| Berkshire Hills Bancorp, Inc. | &nbsp;&nbsp;9198 | &nbsp;&nbsp;&nbsp;&nbsp;230318 |
| Blue Foundry Bancorp (A) | &nbsp;&nbsp;5214 | &nbsp;&nbsp;&nbsp;&nbsp;49898 |
| Blue Ridge Bankshares, Inc. (A) | 13400 | &nbsp;&nbsp;&nbsp;&nbsp;48106 |
| Bridgewater Bancshares, Inc. (A) | &nbsp;&nbsp;4343 | &nbsp;&nbsp;&nbsp;&nbsp;69097 |
| Brookline Bancorp, Inc. | 17933 | &nbsp;&nbsp;&nbsp;&nbsp;189193 |
| Burke & Herbert Financial Services Corp. | &nbsp;&nbsp;2613 | &nbsp;&nbsp;&nbsp;&nbsp;156074 |
| Business First Bancshares, Inc. | &nbsp;&nbsp;5905 | &nbsp;&nbsp;&nbsp;&nbsp;145558 |
| BV Financial, Inc. (A) | &nbsp;&nbsp;1986 | &nbsp;&nbsp;&nbsp;&nbsp;30247 |
| Byline Bancorp, Inc. | &nbsp;&nbsp;6167 | &nbsp;&nbsp;&nbsp;&nbsp;164844 |
| C&F Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;651 | &nbsp;&nbsp;&nbsp;&nbsp;40186 |
| Cadence Bank | 32756 | 1047537 |
| California BanCorp (A) | &nbsp;&nbsp;4398 | &nbsp;&nbsp;&nbsp;&nbsp;69312 |
| Camden National Corp. | &nbsp;&nbsp;3260 | &nbsp;&nbsp;&nbsp;&nbsp;132291 |
| Capital Bancorp, Inc. | &nbsp;&nbsp;2590 | &nbsp;&nbsp;&nbsp;&nbsp;86972 |
| Capital City Bank Group, Inc. | &nbsp;&nbsp;3014 | &nbsp;&nbsp;&nbsp;&nbsp;118601 |
| Capitol Federal Financial, Inc. | 24342 | &nbsp;&nbsp;&nbsp;&nbsp;148486 |
| Carter Bankshares, Inc. (A) | &nbsp;&nbsp;4800 | &nbsp;&nbsp;&nbsp;&nbsp;83232 |
| Cathay General Bancorp | 12639 | &nbsp;&nbsp;&nbsp;&nbsp;575454 |
| CB Financial Services, Inc. | &nbsp;&nbsp;1110 | &nbsp;&nbsp;&nbsp;&nbsp;31635 |
| Central Pacific Financial Corp. | &nbsp;&nbsp;5162 | &nbsp;&nbsp;&nbsp;&nbsp;144691 |
| Chemung Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;957 | &nbsp;&nbsp;&nbsp;&nbsp;46386 |
| ChoiceOne Financial Services, Inc. | &nbsp;&nbsp;2776 | &nbsp;&nbsp;&nbsp;&nbsp;79671 |
| Citizens & Northern Corp. | &nbsp;&nbsp;3419 | &nbsp;&nbsp;&nbsp;&nbsp;64756 |
| Citizens Financial Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;956 | &nbsp;&nbsp;&nbsp;&nbsp;56136 |
| City Holding Company | &nbsp;&nbsp;2686 | &nbsp;&nbsp;&nbsp;&nbsp;328820 |
| Civista Bancshares, Inc. | &nbsp;&nbsp;3381 | &nbsp;&nbsp;&nbsp;&nbsp;78439 |
| CNB Financial Corp. | &nbsp;&nbsp;4933 | &nbsp;&nbsp;&nbsp;&nbsp;112768 |
| Coastal Financial Corp. (A) | &nbsp;&nbsp;2488 | &nbsp;&nbsp;&nbsp;&nbsp;241013 |
| Colony Bankcorp, Inc. | &nbsp;&nbsp;3947 | &nbsp;&nbsp;&nbsp;&nbsp;65007 |
| Columbia Financial, Inc. (A) | &nbsp;&nbsp;6217 | &nbsp;&nbsp;&nbsp;&nbsp;90209 |
| Community Financial System, Inc. | 10085 | &nbsp;&nbsp;&nbsp;&nbsp;573534 |
| Community Trust Bancorp, Inc. | &nbsp;&nbsp;3268 | &nbsp;&nbsp;&nbsp;&nbsp;172943 |
| Community West Bancshares | &nbsp;&nbsp;3585 | &nbsp;&nbsp;&nbsp;&nbsp;69943 |
| ConnectOne Bancorp, Inc. | &nbsp;&nbsp;9242 | &nbsp;&nbsp;&nbsp;&nbsp;214045 |
| Customers Bancorp, Inc. (A) | &nbsp;&nbsp;5567 | &nbsp;&nbsp;&nbsp;&nbsp;327006 |
| CVB Financial Corp. | 24987 | &nbsp;&nbsp;&nbsp;&nbsp;494493 |
| Dime Community Bancshares, Inc. | &nbsp;&nbsp;7718 | &nbsp;&nbsp;&nbsp;&nbsp;207923 |
| Eagle Bancorp, Inc. | &nbsp;&nbsp;5820 | &nbsp;&nbsp;&nbsp;&nbsp;113374 |
| Eagle Financial Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;986 | &nbsp;&nbsp;&nbsp;&nbsp;30191 |
| Eastern Bankshares, Inc. | 37233 | &nbsp;&nbsp;&nbsp;&nbsp;568548 |
| Enterprise Bancorp, Inc. | &nbsp;&nbsp;2094 | &nbsp;&nbsp;&nbsp;&nbsp;83006 |
| Enterprise Financial Services Corp. | &nbsp;&nbsp;6951 | &nbsp;&nbsp;&nbsp;&nbsp;383000 |
| Equity Bancshares, Inc., Class A | &nbsp;&nbsp;3186 | &nbsp;&nbsp;&nbsp;&nbsp;129989 |
| Esquire Financial Holdings, Inc. | &nbsp;&nbsp;1406 | &nbsp;&nbsp;&nbsp;&nbsp;133092 |
| ESSA Bancorp, Inc. | &nbsp;&nbsp;1689 | &nbsp;&nbsp;&nbsp;&nbsp;32767 |
| Farmers & Merchants Bancorp, Inc. | &nbsp;&nbsp;2573 | &nbsp;&nbsp;&nbsp;&nbsp;65045 |
| Farmers National Banc Corp. | &nbsp;&nbsp;8295 | &nbsp;&nbsp;&nbsp;&nbsp;114388 |
| FB Bancorp, Inc. (A) | &nbsp;&nbsp;3356 | &nbsp;&nbsp;&nbsp;&nbsp;37755 |
| FB Financial Corp. | &nbsp;&nbsp;6704 | &nbsp;&nbsp;&nbsp;&nbsp;303691 |
| Fidelity D&D Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;905 | &nbsp;&nbsp;&nbsp;&nbsp;41630 |
| Financial Institutions, Inc. | &nbsp;&nbsp;4074 | &nbsp;&nbsp;&nbsp;&nbsp;104620 |
| First Bancorp (North Carolina) | &nbsp;&nbsp;7720 | &nbsp;&nbsp;&nbsp;&nbsp;340375 |
| First Bancorp (Puerto Rico) | 30097 | &nbsp;&nbsp;&nbsp;&nbsp;626921 |
| First Bank | &nbsp;&nbsp;4782 | &nbsp;&nbsp;&nbsp;&nbsp;73978 |
| First Busey Corp. | 16278 | &nbsp;&nbsp;&nbsp;&nbsp;372522 |
| First Business Financial Services, Inc. | &nbsp;&nbsp;1666 | &nbsp;&nbsp;&nbsp;&nbsp;84400 |
| First Commonwealth Financial Corp. | 19803 | &nbsp;&nbsp;&nbsp;&nbsp;321403 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Banks (continued)** | **Banks (continued)** |  |
| First Community Bankshares, Inc. | &nbsp;&nbsp;3354 | $131376 |
| First Community Corp. | &nbsp;&nbsp;1597 | &nbsp;&nbsp;&nbsp;38935 |
| First Financial Bancorp | 17584 | 426588 |
| First Financial Bankshares, Inc. | 25723 | 925514 |
| First Financial Corp. | &nbsp;&nbsp;2202 | 119326 |
| First Financial Northwest, Inc. (A)(C) | &nbsp;&nbsp;1279 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;716 |
| First Foundation, Inc. (A) | 12431 | &nbsp;&nbsp;&nbsp;63398 |
| First Internet Bancorp | &nbsp;&nbsp;1630 | &nbsp;&nbsp;&nbsp;43847 |
| First Interstate BancSystem, Inc., Class A | 16232 | 467806 |
| First Merchants Corp. | 10985 | 420726 |
| First Mid Bancshares, Inc. | &nbsp;&nbsp;4264 | 159857 |
| First National Corp. | &nbsp;&nbsp;1699 | &nbsp;&nbsp;&nbsp;33080 |
| First Savings Financial Group, Inc. | &nbsp;&nbsp;1235 | &nbsp;&nbsp;&nbsp;30924 |
| First United Corp. | &nbsp;&nbsp;1254 | &nbsp;&nbsp;&nbsp;38887 |
| First Western Financial, Inc. (A) | &nbsp;&nbsp;1756 | &nbsp;&nbsp;&nbsp;39615 |
| Firstsun Capital Bancorp (A) | &nbsp;&nbsp;2454 | &nbsp;&nbsp;&nbsp;85277 |
| Five Star Bancorp | &nbsp;&nbsp;3529 | 100718 |
| Flagstar Financial, Inc. | 57995 | 614747 |
| Flushing Financial Corp. | &nbsp;&nbsp;6760 | &nbsp;&nbsp;&nbsp;80309 |
| Franklin Financial Services Corp. | &nbsp;&nbsp;&nbsp;&nbsp;902 | &nbsp;&nbsp;&nbsp;31232 |
| FS Bancorp, Inc. | &nbsp;&nbsp;1448 | &nbsp;&nbsp;&nbsp;57022 |
| Fulton Financial Corp. | 33494 | 604232 |
| FVCBankcorp, Inc. (A) | &nbsp;&nbsp;3639 | &nbsp;&nbsp;&nbsp;42940 |
| GBank Financial Holdings, Inc. (A) | &nbsp;&nbsp;1820 | &nbsp;&nbsp;&nbsp;64446 |
| German American Bancorp, Inc. | &nbsp;&nbsp;7159 | 275693 |
| Glacier Bancorp, Inc. | 21641 | 932294 |
| Great Southern Bancorp, Inc. | &nbsp;&nbsp;1775 | 104335 |
| Greene County Bancorp, Inc. | &nbsp;&nbsp;1676 | &nbsp;&nbsp;&nbsp;37241 |
| Guaranty Bancshares, Inc. | &nbsp;&nbsp;1865 | &nbsp;&nbsp;&nbsp;79151 |
| Hancock Whitney Corp. | 15763 | 904796 |
| Hanmi Financial Corp. | &nbsp;&nbsp;5863 | 144699 |
| HarborOne Bancorp, Inc. | &nbsp;&nbsp;8514 | &nbsp;&nbsp;&nbsp;99444 |
| Hawthorn Bancshares, Inc. | &nbsp;&nbsp;1249 | &nbsp;&nbsp;&nbsp;36396 |
| HBT Financial, Inc. | &nbsp;&nbsp;3092 | &nbsp;&nbsp;&nbsp;77949 |
| Heritage Commerce Corp. | 11102 | 110243 |
| Heritage Financial Corp. | &nbsp;&nbsp;6687 | 159418 |
| Hilltop Holdings, Inc. | &nbsp;&nbsp;8849 | 268567 |
| Home Bancorp, Inc. | &nbsp;&nbsp;1479 | &nbsp;&nbsp;&nbsp;76583 |
| Home BancShares, Inc. | 35089 | 998633 |
| HomeStreet, Inc. (A) | &nbsp;&nbsp;3708 | &nbsp;&nbsp;&nbsp;48464 |
| HomeTrust Bancshares, Inc. | &nbsp;&nbsp;3458 | 129364 |
| Hope Bancorp, Inc. | 22773 | 244354 |
| Horizon Bancorp, Inc. | &nbsp;&nbsp;8472 | 130299 |
| Independent Bank Corp. (Massachusetts) | &nbsp;&nbsp;7997 | 502891 |
| Independent Bank Corp. (Michigan) | &nbsp;&nbsp;4213 | 136543 |
| International Bancshares Corp. | 10308 | 686100 |
| Investar Holding Corp. | &nbsp;&nbsp;2001 | &nbsp;&nbsp;&nbsp;38659 |
| John Marshall Bancorp, Inc. | &nbsp;&nbsp;2602 | &nbsp;&nbsp;&nbsp;48215 |
| Kearny Financial Corp. | 11855 | &nbsp;&nbsp;&nbsp;76583 |
| Lakeland Financial Corp. | &nbsp;&nbsp;4917 | 302150 |
| Landmark Bancorp, Inc. | &nbsp;&nbsp;1095 | &nbsp;&nbsp;&nbsp;28952 |
| LCNB Corp. | &nbsp;&nbsp;2858 | &nbsp;&nbsp;&nbsp;41527 |
| LINKBANCORP, Inc. | &nbsp;&nbsp;4534 | &nbsp;&nbsp;&nbsp;33144 |
| Live Oak Bancshares, Inc. | &nbsp;&nbsp;6782 | 202104 |
| Mercantile Bank Corp. | &nbsp;&nbsp;3192 | 148141 |
| Metrocity Bankshares, Inc. | &nbsp;&nbsp;4457 | 127381 |
| Metropolitan Bank Holding Corp. (A) | &nbsp;&nbsp;1848 | 129360 |
| Mid Penn Bancorp, Inc. | &nbsp;&nbsp;3931 | 110854 |
| Middlefield Banc Corp. | &nbsp;&nbsp;1576 | &nbsp;&nbsp;&nbsp;47453 |
| Midland States Bancorp, Inc. | &nbsp;&nbsp;4035 | &nbsp;&nbsp;&nbsp;69886 |
| MidWestOne Financial Group, Inc. | &nbsp;&nbsp;4393 | 126387 |
| MVB Financial Corp. | &nbsp;&nbsp;2713 | &nbsp;&nbsp;&nbsp;61124 |
| National Bank Holdings Corp., Class A | &nbsp;&nbsp;7166 | 269513 |
| National Bankshares, Inc. | &nbsp;&nbsp;1278 | &nbsp;&nbsp;&nbsp;34762 |
| NB Bancorp, Inc. (A) | &nbsp;&nbsp;6589 | 117680 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 89 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Small Cap Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Banks (continued)** | **Banks (continued)** |  |
| NBT Bancorp, Inc. | &nbsp;&nbsp;9639 | $&nbsp;&nbsp;&nbsp;&nbsp;400500 |
| Nicolet Bankshares, Inc. | &nbsp;&nbsp;2587 | &nbsp;&nbsp;&nbsp;&nbsp;319443 |
| Northeast Bank | &nbsp;&nbsp;1423 | &nbsp;&nbsp;&nbsp;&nbsp;126633 |
| Northeast Community Bancorp, Inc. | &nbsp;&nbsp;2546 | &nbsp;&nbsp;&nbsp;&nbsp;59182 |
| Northfield Bancorp, Inc. | &nbsp;&nbsp;7843 | &nbsp;&nbsp;&nbsp;&nbsp;90038 |
| Northpointe Bancshares, Inc. | &nbsp;&nbsp;2307 | &nbsp;&nbsp;&nbsp;&nbsp;31629 |
| Northrim BanCorp, Inc. | &nbsp;&nbsp;1065 | &nbsp;&nbsp;&nbsp;&nbsp;99322 |
| Northwest Bancshares, Inc. | 22848 | &nbsp;&nbsp;&nbsp;&nbsp;291997 |
| Norwood Financial Corp. | &nbsp;&nbsp;1550 | &nbsp;&nbsp;&nbsp;&nbsp;39959 |
| Oak Valley Bancorp | &nbsp;&nbsp;1480 | &nbsp;&nbsp;&nbsp;&nbsp;40315 |
| OceanFirst Financial Corp. | 10959 | &nbsp;&nbsp;&nbsp;&nbsp;192988 |
| OFG Bancorp | &nbsp;&nbsp;8551 | &nbsp;&nbsp;&nbsp;&nbsp;365983 |
| Old National Bancorp | 59960 | 1279546 |
| Old Point Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;854 | &nbsp;&nbsp;&nbsp;&nbsp;33520 |
| Old Second Bancorp, Inc. | &nbsp;&nbsp;8126 | &nbsp;&nbsp;&nbsp;&nbsp;144155 |
| OP Bancorp | &nbsp;&nbsp;2671 | &nbsp;&nbsp;&nbsp;&nbsp;34696 |
| Orange County Bancorp, Inc. | &nbsp;&nbsp;2047 | &nbsp;&nbsp;&nbsp;&nbsp;52894 |
| Origin Bancorp, Inc. | &nbsp;&nbsp;5866 | &nbsp;&nbsp;&nbsp;&nbsp;209651 |
| Orrstown Financial Services, Inc. | &nbsp;&nbsp;3660 | &nbsp;&nbsp;&nbsp;&nbsp;116498 |
| Pacific Premier Bancorp, Inc. | 18044 | &nbsp;&nbsp;&nbsp;&nbsp;380548 |
| Park National Corp. | &nbsp;&nbsp;2822 | &nbsp;&nbsp;&nbsp;&nbsp;472008 |
| Parke Bancorp, Inc. | &nbsp;&nbsp;2068 | &nbsp;&nbsp;&nbsp;&nbsp;42125 |
| Pathward Financial, Inc. | &nbsp;&nbsp;4380 | &nbsp;&nbsp;&nbsp;&nbsp;346546 |
| PCB Bancorp | &nbsp;&nbsp;2637 | &nbsp;&nbsp;&nbsp;&nbsp;55324 |
| Peapack-Gladstone Financial Corp. | &nbsp;&nbsp;3299 | &nbsp;&nbsp;&nbsp;&nbsp;93197 |
| Penns Woods Bancorp, Inc. | &nbsp;&nbsp;1521 | &nbsp;&nbsp;&nbsp;&nbsp;46178 |
| Peoples Bancorp, Inc. | &nbsp;&nbsp;6850 | &nbsp;&nbsp;&nbsp;&nbsp;209199 |
| Peoples Financial Services Corp. | &nbsp;&nbsp;1863 | &nbsp;&nbsp;&nbsp;&nbsp;91976 |
| Plumas Bancorp | &nbsp;&nbsp;1188 | &nbsp;&nbsp;&nbsp;&nbsp;52818 |
| Ponce Financial Group, Inc. (A) | &nbsp;&nbsp;4160 | &nbsp;&nbsp;&nbsp;&nbsp;57574 |
| Preferred Bank | &nbsp;&nbsp;2248 | &nbsp;&nbsp;&nbsp;&nbsp;194553 |
| Primis Financial Corp. | &nbsp;&nbsp;4928 | &nbsp;&nbsp;&nbsp;&nbsp;53469 |
| Princeton Bancorp, Inc. | &nbsp;&nbsp;1032 | &nbsp;&nbsp;&nbsp;&nbsp;31517 |
| Provident Bancorp, Inc. (A) | &nbsp;&nbsp;4026 | &nbsp;&nbsp;&nbsp;&nbsp;50285 |
| Provident Financial Services, Inc. | 24235 | &nbsp;&nbsp;&nbsp;&nbsp;424840 |
| QCR Holdings, Inc. | &nbsp;&nbsp;3139 | &nbsp;&nbsp;&nbsp;&nbsp;213138 |
| RBB Bancorp | &nbsp;&nbsp;3613 | &nbsp;&nbsp;&nbsp;&nbsp;62180 |
| Red River Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;976 | &nbsp;&nbsp;&nbsp;&nbsp;57291 |
| Renasant Corp. | 17594 | &nbsp;&nbsp;&nbsp;&nbsp;632152 |
| Republic Bancorp, Inc., Class A | &nbsp;&nbsp;1724 | &nbsp;&nbsp;&nbsp;&nbsp;126042 |
| Richmond Mutual BanCorp, Inc. | &nbsp;&nbsp;2092 | &nbsp;&nbsp;&nbsp;&nbsp;28870 |
| Riverview Bancorp, Inc. | &nbsp;&nbsp;5132 | &nbsp;&nbsp;&nbsp;&nbsp;28226 |
| S&T Bancorp, Inc. | &nbsp;&nbsp;7528 | &nbsp;&nbsp;&nbsp;&nbsp;284709 |
| Seacoast Banking Corp. of Florida | 16428 | &nbsp;&nbsp;&nbsp;&nbsp;453741 |
| ServisFirst Bancshares, Inc. | &nbsp;&nbsp;9849 | &nbsp;&nbsp;&nbsp;&nbsp;763396 |
| Shore Bancshares, Inc. | &nbsp;&nbsp;6498 | &nbsp;&nbsp;&nbsp;&nbsp;102149 |
| Sierra Bancorp | &nbsp;&nbsp;2782 | &nbsp;&nbsp;&nbsp;&nbsp;82598 |
| Simmons First National Corp., Class A | 23437 | &nbsp;&nbsp;&nbsp;&nbsp;444366 |
| SmartFinancial, Inc. | &nbsp;&nbsp;3089 | &nbsp;&nbsp;&nbsp;&nbsp;104346 |
| South Plains Financial, Inc. | &nbsp;&nbsp;2961 | &nbsp;&nbsp;&nbsp;&nbsp;106714 |
| Southern First Bancshares, Inc. (A) | &nbsp;&nbsp;1747 | &nbsp;&nbsp;&nbsp;&nbsp;66438 |
| Southern Missouri Bancorp, Inc. | &nbsp;&nbsp;1960 | &nbsp;&nbsp;&nbsp;&nbsp;107369 |
| Southern States Bancshares, Inc. | &nbsp;&nbsp;1768 | &nbsp;&nbsp;&nbsp;&nbsp;64302 |
| Southside Bancshares, Inc. | &nbsp;&nbsp;5864 | &nbsp;&nbsp;&nbsp;&nbsp;172578 |
| Stellar Bancorp, Inc. | &nbsp;&nbsp;8939 | &nbsp;&nbsp;&nbsp;&nbsp;250113 |
| Stock Yards Bancorp, Inc. | &nbsp;&nbsp;5084 | &nbsp;&nbsp;&nbsp;&nbsp;401534 |
| Texas Capital Bancshares, Inc. (A) | &nbsp;&nbsp;8500 | &nbsp;&nbsp;&nbsp;&nbsp;674900 |
| The Bancorp, Inc. (A) | &nbsp;&nbsp;8668 | &nbsp;&nbsp;&nbsp;&nbsp;493816 |
| The Bank of NT Butterfield & Son, Ltd. | &nbsp;&nbsp;8150 | &nbsp;&nbsp;&nbsp;&nbsp;360882 |
| The First Bancorp, Inc. | &nbsp;&nbsp;2423 | &nbsp;&nbsp;&nbsp;&nbsp;61568 |
| The Hingham Institution for Savings | &nbsp;&nbsp;&nbsp;&nbsp;291 | &nbsp;&nbsp;&nbsp;&nbsp;72270 |
| Third Coast Bancshares, Inc. (A) | &nbsp;&nbsp;2519 | &nbsp;&nbsp;&nbsp;&nbsp;82296 |
| Timberland Bancorp, Inc. | &nbsp;&nbsp;1585 | &nbsp;&nbsp;&nbsp;&nbsp;49452 |
| Tompkins Financial Corp. | &nbsp;&nbsp;2634 | &nbsp;&nbsp;&nbsp;&nbsp;165231 |
| Towne Bank | 13457 | &nbsp;&nbsp;&nbsp;&nbsp;459960 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Banks (continued)** | **Banks (continued)** |  |
| TriCo Bancshares | &nbsp;&nbsp;5986 | $&nbsp;&nbsp;&nbsp;&nbsp;242373 |
| Triumph Financial, Inc. (A) | &nbsp;&nbsp;4282 | &nbsp;&nbsp;&nbsp;&nbsp;235981 |
| Trustmark Corp. | 10554 | &nbsp;&nbsp;&nbsp;&nbsp;384799 |
| UMB Financial Corp. | 13550 | &nbsp;&nbsp;&nbsp;1424918 |
| United Bankshares, Inc. | 26404 | &nbsp;&nbsp;&nbsp;&nbsp;961898 |
| United Community Banks, Inc. | 22791 | &nbsp;&nbsp;&nbsp;&nbsp;678944 |
| Unity Bancorp, Inc. | &nbsp;&nbsp;1545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72739 |
| Univest Financial Corp. | &nbsp;&nbsp;5807 | &nbsp;&nbsp;&nbsp;&nbsp;174442 |
| USCB Financial Holdings, Inc. | &nbsp;&nbsp;2103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34784 |
| Valley National Bancorp | 90569 | &nbsp;&nbsp;&nbsp;&nbsp;808781 |
| Veritex Holdings, Inc. | &nbsp;&nbsp;9866 | &nbsp;&nbsp;&nbsp;&nbsp;257503 |
| Virginia National Bankshares Corp. | &nbsp;&nbsp;&nbsp;&nbsp;992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36704 |
| WaFd, Inc. | 15259 | &nbsp;&nbsp;&nbsp;&nbsp;446784 |
| Washington Trust Bancorp, Inc. | &nbsp;&nbsp;3876 | &nbsp;&nbsp;&nbsp;&nbsp;109613 |
| WesBanco, Inc. | 17710 | &nbsp;&nbsp;&nbsp;&nbsp;560167 |
| West BanCorp, Inc. | &nbsp;&nbsp;3578 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70236 |
| Westamerica BanCorp | &nbsp;&nbsp;4826 | &nbsp;&nbsp;&nbsp;&nbsp;233771 |
| Western New England Bancorp, Inc. | &nbsp;&nbsp;4892 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45153 |
| WSFS Financial Corp. | 10879 | &nbsp;&nbsp;&nbsp;&nbsp;598345 |
|  |  | 51136884 |
| **Capital markets – 1.7%** | **Capital markets – 1.7%** |  |
| Acadian Asset Management, Inc. | &nbsp;&nbsp;5344 | &nbsp;&nbsp;&nbsp;&nbsp;188323 |
| AlTi Global, Inc. (A)(B) | &nbsp;&nbsp;9326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38703 |
| Artisan Partners Asset Management, Inc., Class A | 11733 | &nbsp;&nbsp;&nbsp;&nbsp;520124 |
| BGC Group, Inc., Class A | 68262 | &nbsp;&nbsp;&nbsp;&nbsp;698320 |
| Cohen & Steers, Inc. | &nbsp;&nbsp;5351 | &nbsp;&nbsp;&nbsp;&nbsp;403198 |
| Diamond Hill Investment Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73527 |
| DigitalBridge Group, Inc. | 32837 | &nbsp;&nbsp;&nbsp;&nbsp;339863 |
| Donnelley Financial Solutions, Inc. (A) | &nbsp;&nbsp;5071 | &nbsp;&nbsp;&nbsp;&nbsp;312627 |
| Forge Global Holdings, Inc. (A) | &nbsp;&nbsp;2114 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40251 |
| GCM Grosvenor, Inc., Class A | &nbsp;&nbsp;9287 | &nbsp;&nbsp;&nbsp;&nbsp;107358 |
| Marex Group PLC | &nbsp;&nbsp;6158 | &nbsp;&nbsp;&nbsp;&nbsp;243056 |
| Moelis & Company, Class A | 14048 | &nbsp;&nbsp;&nbsp;&nbsp;875471 |
| Open Lending Corp. (A) | 21236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41198 |
| P10, Inc., Class A | 10838 | &nbsp;&nbsp;&nbsp;&nbsp;110764 |
| Patria Investments, Ltd., Class A | 11816 | &nbsp;&nbsp;&nbsp;&nbsp;166133 |
| Perella Weinberg Partners | 11697 | &nbsp;&nbsp;&nbsp;&nbsp;227156 |
| Piper Sandler Companies | &nbsp;&nbsp;3295 | &nbsp;&nbsp;&nbsp;&nbsp;915812 |
| PJT Partners, Inc., Class A | &nbsp;&nbsp;4330 | &nbsp;&nbsp;&nbsp;&nbsp;714493 |
| Silvercrest Asset Management Group, Inc., Class A | &nbsp;&nbsp;2573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40808 |
| StepStone Group, Inc., Class A | 11992 | &nbsp;&nbsp;&nbsp;&nbsp;665556 |
| StoneX Group, Inc. (A) | &nbsp;&nbsp;8625 | &nbsp;&nbsp;&nbsp;&nbsp;786083 |
| Victory Capital Holdings, Inc., Class A | &nbsp;&nbsp;8389 | &nbsp;&nbsp;&nbsp;&nbsp;534128 |
| Virtus Investment Partners, Inc. | &nbsp;&nbsp;1225 | &nbsp;&nbsp;&nbsp;&nbsp;222215 |
| Westwood Holdings Group, Inc. | &nbsp;&nbsp;2235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34866 |
| WisdomTree, Inc. (B) | 22950 | &nbsp;&nbsp;&nbsp;&nbsp;264155 |
|  |  | &nbsp;&nbsp;&nbsp;8564188 |
| **Consumer finance – 1.1%** | **Consumer finance – 1.1%** |  |
| Atlanticus Holdings Corp. (A) | &nbsp;&nbsp;1078 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59021 |
| Bread Financial Holdings, Inc. | &nbsp;&nbsp;8828 | &nbsp;&nbsp;&nbsp;&nbsp;504255 |
| Dave, Inc. (A) | &nbsp;&nbsp;1774 | &nbsp;&nbsp;&nbsp;&nbsp;476159 |
| Encore Capital Group, Inc. (A) | &nbsp;&nbsp;4529 | &nbsp;&nbsp;&nbsp;&nbsp;175318 |
| Enova International, Inc. (A) | &nbsp;&nbsp;4620 | &nbsp;&nbsp;&nbsp;&nbsp;515222 |
| FirstCash Holdings, Inc. | &nbsp;&nbsp;7544 | &nbsp;&nbsp;&nbsp;1019496 |
| Green Dot Corp., Class A (A) | 10506 | &nbsp;&nbsp;&nbsp;&nbsp;113255 |
| LendingClub Corp. (A) | 21785 | &nbsp;&nbsp;&nbsp;&nbsp;262074 |
| LendingTree, Inc. (A) | &nbsp;&nbsp;2186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81035 |
| Medallion Financial Corp. | &nbsp;&nbsp;3628 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34575 |
| Navient Corp. | 13376 | &nbsp;&nbsp;&nbsp;&nbsp;188602 |
| Nelnet, Inc., Class A | &nbsp;&nbsp;2655 | &nbsp;&nbsp;&nbsp;&nbsp;321574 |
| NerdWallet, Inc., Class A (A) | &nbsp;&nbsp;8254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90546 |
| Oportun Financial Corp. (A) | &nbsp;&nbsp;6678 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47814 |
| OppFi, Inc. (B) | &nbsp;&nbsp;4708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65865 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 90 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Small Cap Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Consumer finance (continued)** | **Consumer finance (continued)** |  |
| PRA Group, Inc. (A) | &nbsp;&nbsp;7831 | $&nbsp;&nbsp;&nbsp;&nbsp;115507 |
| PROG Holdings, Inc. | &nbsp;&nbsp;7645 | &nbsp;&nbsp;&nbsp;&nbsp;224381 |
| Regional Management Corp. | &nbsp;&nbsp;1960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57252 |
| Upstart Holdings, Inc. (A) | 16076 | &nbsp;&nbsp;&nbsp;1039796 |
| World Acceptance Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;678 | &nbsp;&nbsp;&nbsp;&nbsp;111951 |
|  |  | &nbsp;&nbsp;&nbsp;5503698 |
| **Financial services – 2.5%** | **Financial services – 2.5%** |  |
| Acacia Research Corp. (A) | &nbsp;&nbsp;9228 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33036 |
| Alerus Financial Corp. | &nbsp;&nbsp;4585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99219 |
| AvidXchange Holdings, Inc. (A) | 33233 | &nbsp;&nbsp;&nbsp;&nbsp;325351 |
| Banco Latinoamericano de Comercio Exterior SA, Class E | &nbsp;&nbsp;5645 | &nbsp;&nbsp;&nbsp;&nbsp;227494 |
| Burford Capital, Ltd. | 37134 | &nbsp;&nbsp;&nbsp;&nbsp;529531 |
| Cannae Holdings, Inc. | 11384 | &nbsp;&nbsp;&nbsp;&nbsp;237356 |
| Cantaloupe, Inc. (A) | 10603 | &nbsp;&nbsp;&nbsp;&nbsp;116527 |
| Cass Information Systems, Inc. | &nbsp;&nbsp;2496 | &nbsp;&nbsp;&nbsp;&nbsp;108451 |
| Compass Diversified Holdings | 15629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98150 |
| Enact Holdings, Inc. | &nbsp;&nbsp;5570 | &nbsp;&nbsp;&nbsp;&nbsp;206926 |
| Essent Group, Ltd. | 18794 | &nbsp;&nbsp;&nbsp;1141360 |
| EVERTEC, Inc. | 12450 | &nbsp;&nbsp;&nbsp;&nbsp;448823 |
| Federal Agricultural Mortgage Corp., Class C | &nbsp;&nbsp;1789 | &nbsp;&nbsp;&nbsp;&nbsp;347567 |
| Flywire Corp. (A) | 22701 | &nbsp;&nbsp;&nbsp;&nbsp;265602 |
| HA Sustainable Infrastructure Capital, Inc. (B) | 23330 | &nbsp;&nbsp;&nbsp;&nbsp;626644 |
| International Money Express, Inc. (A) | &nbsp;&nbsp;5523 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55727 |
| Jackson Financial, Inc., Class A | 13577 | &nbsp;&nbsp;&nbsp;1205502 |
| Marqeta, Inc., Class A (A) | 74076 | &nbsp;&nbsp;&nbsp;&nbsp;431863 |
| Merchants Bancorp | &nbsp;&nbsp;5102 | &nbsp;&nbsp;&nbsp;&nbsp;168723 |
| NCR Atleos Corp. (A) | 14050 | &nbsp;&nbsp;&nbsp;&nbsp;400847 |
| NewtekOne, Inc. | &nbsp;&nbsp;5274 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59491 |
| NMI Holdings, Inc. (A) | 14845 | &nbsp;&nbsp;&nbsp;&nbsp;626311 |
| Onity Group, Inc. (A) | &nbsp;&nbsp;1419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54163 |
| PagSeguro Digital, Ltd., Class A | 33876 | &nbsp;&nbsp;&nbsp;&nbsp;326565 |
| Payoneer Global, Inc. (A) | 53759 | &nbsp;&nbsp;&nbsp;&nbsp;368249 |
| Paysafe, Ltd. (A) | &nbsp;&nbsp;6406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80844 |
| Paysign, Inc. (A) | &nbsp;&nbsp;7106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51163 |
| PennyMac Financial Services, Inc. | &nbsp;&nbsp;5554 | &nbsp;&nbsp;&nbsp;&nbsp;553401 |
| Priority Technology Holdings, Inc. (A) | &nbsp;&nbsp;5101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39686 |
| Radian Group, Inc. | 26506 | &nbsp;&nbsp;&nbsp;&nbsp;954746 |
| Remitly Global, Inc. (A) | 29677 | &nbsp;&nbsp;&nbsp;&nbsp;557037 |
| Repay Holdings Corp. (A) | 15161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73076 |
| Security National Financial Corp., Class A (A) | &nbsp;&nbsp;3164 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31165 |
| Sezzle, Inc. (A) | &nbsp;&nbsp;2822 | &nbsp;&nbsp;&nbsp;&nbsp;505844 |
| StoneCo, Ltd., Class A (A) | 46338 | &nbsp;&nbsp;&nbsp;&nbsp;743262 |
| TrustCo Bank Corp. NY | &nbsp;&nbsp;3415 | &nbsp;&nbsp;&nbsp;&nbsp;114129 |
| Velocity Financial, Inc. (A) | &nbsp;&nbsp;2423 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44922 |
| Walker & Dunlop, Inc. | &nbsp;&nbsp;6301 | &nbsp;&nbsp;&nbsp;&nbsp;444094 |
| Waterstone Financial, Inc. | &nbsp;&nbsp;4032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55682 |
|  |  | 12758529 |
| **Insurance – 2.3%** | **Insurance – 2.3%** |  |
| Ambac Financial Group, Inc. (A) | &nbsp;&nbsp;9698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68856 |
| American Coastal Insurance Corp. | &nbsp;&nbsp;4847 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53899 |
| AMERISAFE, Inc. | &nbsp;&nbsp;3696 | &nbsp;&nbsp;&nbsp;&nbsp;161626 |
| Bowhead Specialty Holdings, Inc. (A) | &nbsp;&nbsp;3088 | &nbsp;&nbsp;&nbsp;&nbsp;115893 |
| Citizens, Inc. (A)(B) | 10252 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35779 |
| CNO Financial Group, Inc. | 18642 | &nbsp;&nbsp;&nbsp;&nbsp;719208 |
| Crawford & Company, Class A | &nbsp;&nbsp;3516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37199 |
| Donegal Group, Inc., Class A | &nbsp;&nbsp;3571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71509 |
| eHealth, Inc. (A) | &nbsp;&nbsp;6233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27114 |
| Employers Holdings, Inc. | &nbsp;&nbsp;4457 | &nbsp;&nbsp;&nbsp;&nbsp;210281 |
| Enstar Group, Ltd. (A) | &nbsp;&nbsp;2231 | &nbsp;&nbsp;&nbsp;&nbsp;750419 |
| F&G Annuities & Life, Inc. | &nbsp;&nbsp;4112 | &nbsp;&nbsp;&nbsp;&nbsp;131502 |
| Fidelis Insurance Holdings, Ltd. | 11368 | &nbsp;&nbsp;&nbsp;&nbsp;188481 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Insurance (continued)** | **Insurance (continued)** |  |
| Genworth Financial, Inc. (A) | 77360 | $&nbsp;&nbsp;&nbsp;&nbsp;601861 |
| Goosehead Insurance, Inc., Class A | &nbsp;&nbsp;4559 | &nbsp;&nbsp;&nbsp;&nbsp;481020 |
| Greenlight Capital Re, Ltd., Class A (A) | &nbsp;&nbsp;5426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77972 |
| Hamilton Insurance Group, Ltd., Class B (A) | &nbsp;&nbsp;8600 | &nbsp;&nbsp;&nbsp;&nbsp;185932 |
| HCI Group, Inc. | &nbsp;&nbsp;1635 | &nbsp;&nbsp;&nbsp;&nbsp;248847 |
| Heritage Insurance Holdings, Inc. (A) | &nbsp;&nbsp;4232 | &nbsp;&nbsp;&nbsp;&nbsp;105546 |
| Hippo Holdings, Inc. (A)(B) | &nbsp;&nbsp;3514 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98146 |
| Horace Mann Educators Corp. | &nbsp;&nbsp;7736 | &nbsp;&nbsp;&nbsp;&nbsp;332416 |
| Investors Title Company | &nbsp;&nbsp;&nbsp;&nbsp;265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55995 |
| James River Group Holdings, Ltd. | &nbsp;&nbsp;7315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42866 |
| Kingstone Companies, Inc. (A) | &nbsp;&nbsp;2187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33702 |
| Kingsway Financial Services, Inc. (A) | &nbsp;&nbsp;3992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54052 |
| Lemonade, Inc. (A)(B) | 10647 | &nbsp;&nbsp;&nbsp;&nbsp;466445 |
| MBIA, Inc. (A) | 10046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43600 |
| Mercury General Corp. | &nbsp;&nbsp;5085 | &nbsp;&nbsp;&nbsp;&nbsp;342424 |
| Oscar Health, Inc., Class A (A) | 35016 | &nbsp;&nbsp;&nbsp;&nbsp;750743 |
| Palomar Holdings, Inc. (A) | &nbsp;&nbsp;5030 | &nbsp;&nbsp;&nbsp;&nbsp;775878 |
| ProAssurance Corp. (A) | &nbsp;&nbsp;9772 | &nbsp;&nbsp;&nbsp;&nbsp;223095 |
| Root, Inc., Class A (A) | &nbsp;&nbsp;2034 | &nbsp;&nbsp;&nbsp;&nbsp;260291 |
| Safety Insurance Group, Inc. | &nbsp;&nbsp;2809 | &nbsp;&nbsp;&nbsp;&nbsp;223007 |
| Selective Insurance Group, Inc. | 11466 | &nbsp;&nbsp;&nbsp;&nbsp;993529 |
| SelectQuote, Inc. (A) | 28126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66940 |
| SiriusPoint, Ltd. (A) | 19770 | &nbsp;&nbsp;&nbsp;&nbsp;403110 |
| Skyward Specialty Insurance Group, Inc. (A) | &nbsp;&nbsp;6806 | &nbsp;&nbsp;&nbsp;&nbsp;393319 |
| Stewart Information Services Corp. | &nbsp;&nbsp;5236 | &nbsp;&nbsp;&nbsp;&nbsp;340864 |
| The Baldwin Insurance Group, Inc. (A)(B) | 13406 | &nbsp;&nbsp;&nbsp;&nbsp;573911 |
| Tiptree, Inc. | &nbsp;&nbsp;4807 | &nbsp;&nbsp;&nbsp;&nbsp;113349 |
| Trupanion, Inc. (A) | &nbsp;&nbsp;7093 | &nbsp;&nbsp;&nbsp;&nbsp;392598 |
| United Fire Group, Inc. | &nbsp;&nbsp;4189 | &nbsp;&nbsp;&nbsp;&nbsp;120224 |
| Universal Insurance Holdings, Inc. | &nbsp;&nbsp;4907 | &nbsp;&nbsp;&nbsp;&nbsp;136071 |
|  |  | 11509519 |
| **Mortgage real estate investment trusts – 0.9%** | **Mortgage real estate investment trusts – 0.9%** |  |
| ACRES Commercial Realty Corp. (A) | &nbsp;&nbsp;1582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28381 |
| AG Mortgage Investment Trust, Inc. | &nbsp;&nbsp;5887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44447 |
| Apollo Commercial Real Estate Finance, Inc. | 26391 | &nbsp;&nbsp;&nbsp;&nbsp;255465 |
| Arbor Realty Trust, Inc. | 36469 | &nbsp;&nbsp;&nbsp;&nbsp;390218 |
| Ares Commercial Real Estate Corp. | 10605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50586 |
| ARMOUR Residential REIT, Inc. | 15418 | &nbsp;&nbsp;&nbsp;&nbsp;259177 |
| Blackstone Mortgage Trust, Inc., Class A | 30739 | &nbsp;&nbsp;&nbsp;&nbsp;591726 |
| BrightSpire Capital, Inc. | 24768 | &nbsp;&nbsp;&nbsp;&nbsp;125078 |
| Chicago Atlantic Real Estate Finance, Inc. | &nbsp;&nbsp;3689 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51498 |
| Chimera Investment Corp. | 14881 | &nbsp;&nbsp;&nbsp;&nbsp;206399 |
| Claros Mortgage Trust, Inc. | 18846 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53711 |
| Dynex Capital, Inc. | 19458 | &nbsp;&nbsp;&nbsp;&nbsp;237777 |
| Ellington Financial, Inc. | 17042 | &nbsp;&nbsp;&nbsp;&nbsp;221376 |
| Franklin BSP Realty Trust, Inc. | 15965 | &nbsp;&nbsp;&nbsp;&nbsp;170666 |
| Invesco Mortgage Capital, Inc. | 12715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99686 |
| KKR Real Estate Finance Trust, Inc. | 11456 | &nbsp;&nbsp;&nbsp;&nbsp;100469 |
| Ladder Capital Corp. | 22877 | &nbsp;&nbsp;&nbsp;&nbsp;245928 |
| MFA Financial, Inc. | 19439 | &nbsp;&nbsp;&nbsp;&nbsp;183893 |
| New York Mortgage Trust, Inc. | 17209 | &nbsp;&nbsp;&nbsp;&nbsp;115300 |
| Nexpoint Real Estate Finance, Inc. | &nbsp;&nbsp;2108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29069 |
| Orchid Island Capital, Inc. | 20556 | &nbsp;&nbsp;&nbsp;&nbsp;144098 |
| PennyMac Mortgage Investment Trust | 16461 | &nbsp;&nbsp;&nbsp;&nbsp;211688 |
| Ready Capital Corp. | 32507 | &nbsp;&nbsp;&nbsp;&nbsp;142056 |
| Redwood Trust, Inc. | 25370 | &nbsp;&nbsp;&nbsp;&nbsp;149937 |
| Rithm Property Trust, Inc. | 10168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27454 |
| Seven Hills Realty Trust | &nbsp;&nbsp;3506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42317 |
| TPG RE Finance Trust, Inc. | 12758 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98492 |
| Two Harbors Investment Corp. | 19729 | &nbsp;&nbsp;&nbsp;&nbsp;212481 |
|  |  | &nbsp;&nbsp;&nbsp;4489373 |
|  |  | 93962191 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 91 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Small Cap Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Health care – 15.4%** |  |  |
| **Biotechnology – 6.9%** | **Biotechnology – 6.9%** |  |
| 4D Molecular Therapeutics, Inc. (A) | &nbsp;&nbsp;8375 | $&nbsp;&nbsp;&nbsp;&nbsp;31071 |
| 89bio, Inc. (A) | 24104 | &nbsp;&nbsp;&nbsp;&nbsp;236701 |
| Abeona Therapeutics, Inc. (A) | &nbsp;&nbsp;8991 | &nbsp;&nbsp;&nbsp;&nbsp;51069 |
| Absci Corp. (A)(B) | 21436 | &nbsp;&nbsp;&nbsp;&nbsp;55091 |
| ACADIA Pharmaceuticals, Inc. (A) | 23764 | &nbsp;&nbsp;&nbsp;&nbsp;512589 |
| ADC Therapeutics SA (A) | 14551 | &nbsp;&nbsp;&nbsp;&nbsp;38997 |
| ADMA Biologics, Inc. (A) | 44253 | &nbsp;&nbsp;&nbsp;&nbsp;805847 |
| Aduro Biotech, Inc. (A)(C) | &nbsp;&nbsp;4010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5618 |
| Agios Pharmaceuticals, Inc. (A) | 10807 | &nbsp;&nbsp;&nbsp;&nbsp;359441 |
| Akebia Therapeutics, Inc. (A) | 48275 | &nbsp;&nbsp;&nbsp;&nbsp;175721 |
| Akero Therapeutics, Inc. (A) | 13384 | &nbsp;&nbsp;&nbsp;&nbsp;714170 |
| Albireo Pharma, Inc. (A)(C) | &nbsp;&nbsp;3774 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8114 |
| Aldeyra Therapeutics, Inc. (A)(B) | 11264 | &nbsp;&nbsp;&nbsp;&nbsp;43141 |
| Alkermes PLC (A) | 30913 | &nbsp;&nbsp;&nbsp;&nbsp;884421 |
| Allogene Therapeutics, Inc. (A)(B) | 31586 | &nbsp;&nbsp;&nbsp;&nbsp;35692 |
| Altimmune, Inc. (A) | 14956 | &nbsp;&nbsp;&nbsp;&nbsp;57880 |
| Amicus Therapeutics, Inc. (A) | 53665 | &nbsp;&nbsp;&nbsp;&nbsp;307500 |
| AnaptysBio, Inc. (A)(B) | &nbsp;&nbsp;3810 | &nbsp;&nbsp;&nbsp;&nbsp;84582 |
| Anavex Life Sciences Corp. (A)(B) | 16253 | &nbsp;&nbsp;&nbsp;&nbsp;149853 |
| Anika Therapeutics, Inc. (A) | &nbsp;&nbsp;2997 | &nbsp;&nbsp;&nbsp;&nbsp;31708 |
| Annexon, Inc. (A) | 19295 | &nbsp;&nbsp;&nbsp;&nbsp;46308 |
| Apogee Therapeutics, Inc. (A) | &nbsp;&nbsp;6153 | &nbsp;&nbsp;&nbsp;&nbsp;267225 |
| Arbutus Biopharma Corp. (A)(B) | 31366 | &nbsp;&nbsp;&nbsp;&nbsp;96921 |
| Arcellx, Inc. (A) | &nbsp;&nbsp;7016 | &nbsp;&nbsp;&nbsp;&nbsp;462004 |
| Arcturus Therapeutics Holdings, Inc. (A)(B) | &nbsp;&nbsp;5052 | &nbsp;&nbsp;&nbsp;&nbsp;65727 |
| Arcus Biosciences, Inc. (A) | 13758 | &nbsp;&nbsp;&nbsp;&nbsp;111990 |
| Arcutis Biotherapeutics, Inc. (A) | 20448 | &nbsp;&nbsp;&nbsp;&nbsp;286681 |
| Ardelyx, Inc. (A) | 45633 | &nbsp;&nbsp;&nbsp;&nbsp;178881 |
| ArriVent Biopharma, Inc. (A)(B) | &nbsp;&nbsp;4724 | &nbsp;&nbsp;&nbsp;&nbsp;102841 |
| Arrowhead Pharmaceuticals, Inc. (A) | 23149 | &nbsp;&nbsp;&nbsp;&nbsp;365754 |
| ARS Pharmaceuticals, Inc. (A)(B) | 10616 | &nbsp;&nbsp;&nbsp;&nbsp;185249 |
| Astria Therapeutics, Inc. (A) | &nbsp;&nbsp;8731 | &nbsp;&nbsp;&nbsp;&nbsp;46798 |
| aTyr Pharma, Inc. (A) | 17305 | &nbsp;&nbsp;&nbsp;&nbsp;87736 |
| Aura Biosciences, Inc. (A)(B) | &nbsp;&nbsp;8459 | &nbsp;&nbsp;&nbsp;&nbsp;52953 |
| Aurinia Pharmaceuticals, Inc. (A) | 22782 | &nbsp;&nbsp;&nbsp;&nbsp;192964 |
| Avidity Biosciences, Inc. (A) | 21903 | &nbsp;&nbsp;&nbsp;&nbsp;622045 |
| Avita Medical, Inc. (A)(B) | &nbsp;&nbsp;6303 | &nbsp;&nbsp;&nbsp;&nbsp;33343 |
| Beam Therapeutics, Inc. (A)(B) | 18376 | &nbsp;&nbsp;&nbsp;&nbsp;312576 |
| Bicara Therapeutics, Inc. (A)(B) | &nbsp;&nbsp;6761 | &nbsp;&nbsp;&nbsp;&nbsp;62810 |
| BioCryst Pharmaceuticals, Inc. (A) | 40107 | &nbsp;&nbsp;&nbsp;&nbsp;359359 |
| Biohaven, Ltd. (A) | 17459 | &nbsp;&nbsp;&nbsp;&nbsp;246346 |
| Blueprint Medicines Corp. (A) | 12182 | 1561489 |
| Bridgebio Pharma, Inc. (A) | 29837 | 1288362 |
| Candel Therapeutics, Inc. (A) | &nbsp;&nbsp;7790 | &nbsp;&nbsp;&nbsp;&nbsp;39417 |
| Capricor Therapeutics, Inc. (A)(B) | &nbsp;&nbsp;7597 | &nbsp;&nbsp;&nbsp;&nbsp;75438 |
| Cardiff Oncology, Inc. (A)(B) | 12370 | &nbsp;&nbsp;&nbsp;&nbsp;38966 |
| CareDx, Inc. (A) | 10447 | &nbsp;&nbsp;&nbsp;&nbsp;204134 |
| Cargo Therapeutics, Inc. (A)(B) | &nbsp;&nbsp;7726 | &nbsp;&nbsp;&nbsp;&nbsp;31831 |
| Catalyst Pharmaceuticals, Inc. (A) | 22074 | &nbsp;&nbsp;&nbsp;&nbsp;479006 |
| Celcuity, Inc. (A)(B) | &nbsp;&nbsp;6036 | &nbsp;&nbsp;&nbsp;&nbsp;80581 |
| Celldex Therapeutics, Inc. (A) | 12696 | &nbsp;&nbsp;&nbsp;&nbsp;258364 |
| CG Oncology, Inc. (A) | 10744 | &nbsp;&nbsp;&nbsp;&nbsp;279344 |
| Chinook Therapeutics, Inc. (A)(C) | 12035 | &nbsp;&nbsp;&nbsp;&nbsp;16862 |
| Cidara Therapeutics, Inc. (A) | &nbsp;&nbsp;2014 | &nbsp;&nbsp;&nbsp;&nbsp;98102 |
| Cogent Biosciences, Inc. (A) | 20723 | &nbsp;&nbsp;&nbsp;&nbsp;148791 |
| Compass Therapeutics, Inc. (A)(B) | 18498 | &nbsp;&nbsp;&nbsp;&nbsp;48095 |
| Corvus Pharmaceuticals, Inc. (A) | 10720 | &nbsp;&nbsp;&nbsp;&nbsp;42880 |
| Crinetics Pharmaceuticals, Inc. (A) | 17334 | &nbsp;&nbsp;&nbsp;&nbsp;498526 |
| CRISPR Therapeutics AG (A) | 15804 | &nbsp;&nbsp;&nbsp;&nbsp;768707 |
| Cullinan Therapeutics, Inc. (A) | 10100 | &nbsp;&nbsp;&nbsp;&nbsp;76053 |
| Cytokinetics, Inc. (A) | 22341 | &nbsp;&nbsp;&nbsp;&nbsp;738147 |
| Day One Biopharmaceuticals, Inc. (A) | 14498 | &nbsp;&nbsp;&nbsp;&nbsp;94237 |
| Denali Therapeutics, Inc. (A) | 25679 | &nbsp;&nbsp;&nbsp;&nbsp;359249 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Biotechnology (continued)** | **Biotechnology (continued)** |  |
| Design Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;6850 | $&nbsp;&nbsp;&nbsp;23085 |
| Dianthus Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;3889 | &nbsp;&nbsp;&nbsp;72452 |
| Disc Medicine, Inc. (A) | &nbsp;&nbsp;&nbsp;4748 | 251454 |
| Dynavax Technologies Corp. (A) | &nbsp;&nbsp;20388 | 202249 |
| Dyne Therapeutics, Inc. (A) | &nbsp;&nbsp;18087 | 172188 |
| Editas Medicine, Inc. (A)(B) | &nbsp;&nbsp;16238 | &nbsp;&nbsp;&nbsp;35724 |
| Emergent BioSolutions, Inc. (A) | &nbsp;&nbsp;10396 | &nbsp;&nbsp;&nbsp;66326 |
| Enanta Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;4145 | &nbsp;&nbsp;&nbsp;31336 |
| Entrada Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;4957 | &nbsp;&nbsp;&nbsp;33311 |
| Erasca, Inc. (A) | &nbsp;&nbsp;34311 | &nbsp;&nbsp;&nbsp;43575 |
| Fate Therapeutics, Inc. (A) | &nbsp;&nbsp;22345 | &nbsp;&nbsp;&nbsp;25026 |
| Fennec Pharmaceuticals, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;5128 | &nbsp;&nbsp;&nbsp;42562 |
| Geron Corp. (A) | 118248 | 166730 |
| Gossamer Bio, Inc. (A) | &nbsp;&nbsp;38028 | &nbsp;&nbsp;&nbsp;46774 |
| GRAIL, Inc. (A) | &nbsp;&nbsp;&nbsp;5837 | 300139 |
| Heron Therapeutics, Inc. (A)(B) | &nbsp;&nbsp;29936 | &nbsp;&nbsp;&nbsp;61968 |
| Humacyte, Inc. (A)(B) | &nbsp;&nbsp;24492 | &nbsp;&nbsp;&nbsp;51188 |
| Icosavax, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;6029 | &nbsp;&nbsp;&nbsp;&nbsp;1869 |
| Ideaya Biosciences, Inc. (A) | &nbsp;&nbsp;16228 | 341113 |
| ImmunityBio, Inc. (A)(B) | &nbsp;&nbsp;44366 | 117126 |
| Immunome, Inc. (A)(B) | &nbsp;&nbsp;14339 | 133353 |
| Immunovant, Inc. (A)(B) | &nbsp;&nbsp;13420 | 214720 |
| Inhibrx Biosciences, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;2102 | &nbsp;&nbsp;&nbsp;29996 |
| Inhibrx, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;6820 | &nbsp;&nbsp;&nbsp;&nbsp;4297 |
| Inmune Bio, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;3682 | &nbsp;&nbsp;&nbsp;&nbsp;8505 |
| Intellia Therapeutics, Inc. (A)(B) | &nbsp;&nbsp;19754 | 185293 |
| Iovance Biotherapeutics, Inc. (A)(B) | &nbsp;&nbsp;49877 | &nbsp;&nbsp;&nbsp;85788 |
| iTeos Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;5923 | &nbsp;&nbsp;&nbsp;59052 |
| Jade Biosciences, Inc. | &nbsp;&nbsp;&nbsp;6441 | &nbsp;&nbsp;&nbsp;64346 |
| Janux Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;7587 | 175260 |
| KalVista Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;7671 | &nbsp;&nbsp;&nbsp;86721 |
| Keros Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;6590 | &nbsp;&nbsp;&nbsp;87977 |
| Krystal Biotech, Inc. (A) | &nbsp;&nbsp;&nbsp;4729 | 650048 |
| Kura Oncology, Inc. (A) | &nbsp;&nbsp;16196 | &nbsp;&nbsp;&nbsp;93451 |
| Kymera Therapeutics, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;8999 | 392716 |
| Larimar Therapeutics, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;8766 | &nbsp;&nbsp;&nbsp;25334 |
| Madrigal Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;3222 | 975106 |
| MannKind Corp. (A) | &nbsp;&nbsp;58656 | 219373 |
| MeiraGTx Holdings PLC (A) | &nbsp;&nbsp;&nbsp;8616 | &nbsp;&nbsp;&nbsp;56176 |
| Merrimack Pharmaceuticals, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;2411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72 |
| Metsera, Inc. (A) | &nbsp;&nbsp;&nbsp;3463 | &nbsp;&nbsp;&nbsp;98522 |
| MiMedx Group, Inc. (A) | &nbsp;&nbsp;23900 | 146029 |
| Mineralys Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;7788 | 105372 |
| Mirum Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;8339 | 424372 |
| Monte Rosa Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;9464 | &nbsp;&nbsp;&nbsp;42683 |
| Myriad Genetics, Inc. (A) | &nbsp;&nbsp;17898 | &nbsp;&nbsp;&nbsp;95038 |
| Neurogene, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;1885 | &nbsp;&nbsp;&nbsp;28181 |
| Novavax, Inc. (A)(B) | &nbsp;&nbsp;28705 | 180842 |
| Nurix Therapeutics, Inc. (A) | &nbsp;&nbsp;14659 | 166966 |
| Nuvalent, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;8220 | 627186 |
| Olema Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;11891 | &nbsp;&nbsp;&nbsp;50656 |
| Organogenesis Holdings, Inc. (A) | &nbsp;&nbsp;13865 | &nbsp;&nbsp;&nbsp;50746 |
| ORIC Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;8824 | &nbsp;&nbsp;&nbsp;89564 |
| Oruka Therapeutics, Inc. | &nbsp;&nbsp;&nbsp;5483 | &nbsp;&nbsp;&nbsp;61464 |
| Palvella Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;1428 | &nbsp;&nbsp;&nbsp;32187 |
| PDL BioPharma, Inc. (A)(B)(C) | &nbsp;&nbsp;28581 | &nbsp;&nbsp;&nbsp;&nbsp;4573 |
| Perspective Therapeutics, Inc. (A) | &nbsp;&nbsp;12304 | &nbsp;&nbsp;&nbsp;42326 |
| Praxis Precision Medicines, Inc. (A) | &nbsp;&nbsp;&nbsp;3451 | 145115 |
| Precigen, Inc. (A)(B) | &nbsp;&nbsp;31364 | &nbsp;&nbsp;&nbsp;44537 |
| Prime Medicine, Inc. (A) | &nbsp;&nbsp;11379 | &nbsp;&nbsp;&nbsp;28106 |
| Protagonist Therapeutics, Inc. (A) | &nbsp;&nbsp;11169 | 617311 |
| Prothena Corp. PLC (A) | &nbsp;&nbsp;&nbsp;7895 | &nbsp;&nbsp;&nbsp;47923 |
| PTC Therapeutics, Inc. (A) | &nbsp;&nbsp;14842 | 724883 |
| Puma Biotechnology, Inc. (A) | &nbsp;&nbsp;&nbsp;8862 | &nbsp;&nbsp;&nbsp;30397 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 92 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Small Cap Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Biotechnology (continued)** | **Biotechnology (continued)** |  |
| Recursion Pharmaceuticals, Inc., Class A (A)(B) | 65043 | $&nbsp;&nbsp;&nbsp;&nbsp;329118 |
| REGENXBIO, Inc. (A) | &nbsp;&nbsp;8921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73241 |
| Regulus Therapeutics, Inc. (A)(C) | 12077 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14009 |
| Relay Therapeutics, Inc. (A) | 26393 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91320 |
| Replimune Group, Inc. (A) | 12929 | &nbsp;&nbsp;&nbsp;&nbsp;120110 |
| Rezolute, Inc. (A) | 13316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59389 |
| Rhythm Pharmaceuticals, Inc. (A) | 10415 | &nbsp;&nbsp;&nbsp;&nbsp;658124 |
| Rigel Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;3557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66623 |
| Rocket Pharmaceuticals, Inc. (A) | 17934 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43938 |
| Sage Therapeutics, Inc. (A) | 11117 | &nbsp;&nbsp;&nbsp;&nbsp;101387 |
| Sana Biotechnology, Inc. (A)(B) | 26389 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72042 |
| Savara, Inc. (A) | 27238 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62103 |
| Scholar Rock Holding Corp. (A) | 15550 | &nbsp;&nbsp;&nbsp;&nbsp;550781 |
| SELLAS Life Sciences Group, Inc. (A) | 19464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42626 |
| Sionna Therapeutics, Inc. (A) | &nbsp;&nbsp;2531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43913 |
| Soleno Therapeutics, Inc. (A) | &nbsp;&nbsp;7679 | &nbsp;&nbsp;&nbsp;&nbsp;643347 |
| Solid Biosciences, Inc. (A) | 12933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62984 |
| SpringWorks Therapeutics, Inc. (A) | 13873 | &nbsp;&nbsp;&nbsp;&nbsp;651892 |
| Spyre Therapeutics, Inc. (A)(B) | &nbsp;&nbsp;9655 | &nbsp;&nbsp;&nbsp;&nbsp;144535 |
| Stoke Therapeutics, Inc. (A) | &nbsp;&nbsp;7953 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90267 |
| Syndax Pharmaceuticals, Inc. (A) | 16872 | &nbsp;&nbsp;&nbsp;&nbsp;158006 |
| Synergy Pharmaceuticals, Inc. (A)(C) | 80513 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233 |
| Tango Therapeutics, Inc. (A)(B) | 14923 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76406 |
| Taysha Gene Therapies, Inc. (A)(B) | 32222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74433 |
| Tectonic Therapeutic, Inc. (A) | &nbsp;&nbsp;2271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45125 |
| TG Therapeutics, Inc. (A)(B) | 27728 | &nbsp;&nbsp;&nbsp;&nbsp;997931 |
| Tonix Pharmaceuticals Holding Corp. (A) | &nbsp;&nbsp;1458 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52459 |
| Tourmaline Bio, Inc. (A) | &nbsp;&nbsp;3782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60474 |
| Travere Therapeutics, Inc. (A) | 16952 | &nbsp;&nbsp;&nbsp;&nbsp;250890 |
| Twist Bioscience Corp. (A) | 11310 | &nbsp;&nbsp;&nbsp;&nbsp;416095 |
| Tyra Biosciences, Inc. (A)(B) | &nbsp;&nbsp;4988 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47735 |
| Upstream Bio, Inc. (A)(B) | &nbsp;&nbsp;6856 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75279 |
| UroGen Pharma, Ltd. (A)(B) | &nbsp;&nbsp;7141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97832 |
| Vanda Pharmaceuticals, Inc. (A) | 10998 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51911 |
| Vaxcyte, Inc. (A) | 24138 | &nbsp;&nbsp;&nbsp;&nbsp;784726 |
| Vera Therapeutics, Inc. (A) | &nbsp;&nbsp;9894 | &nbsp;&nbsp;&nbsp;&nbsp;233103 |
| Veracyte, Inc. (A) | 15073 | &nbsp;&nbsp;&nbsp;&nbsp;407423 |
| Verastem, Inc. (A)(B) | &nbsp;&nbsp;9041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37520 |
| Vericel Corp. (A) | &nbsp;&nbsp;9657 | &nbsp;&nbsp;&nbsp;&nbsp;410905 |
| Verve Therapeutics, Inc. (A) | 13147 | &nbsp;&nbsp;&nbsp;&nbsp;147641 |
| Vir Biotechnology, Inc. (A) | 17725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89334 |
| Viridian Therapeutics, Inc. (A) | 13489 | &nbsp;&nbsp;&nbsp;&nbsp;188576 |
| Voyager Therapeutics, Inc. (A) | 11228 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34919 |
| Xencor, Inc. (A) | 13924 | &nbsp;&nbsp;&nbsp;&nbsp;109443 |
| Xenon Pharmaceuticals, Inc. (A) | 14709 | &nbsp;&nbsp;&nbsp;&nbsp;460392 |
| XOMA Royalty Corp. (A) | &nbsp;&nbsp;1739 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43823 |
| Y-mAbs Therapeutics, Inc. (A)(B) | &nbsp;&nbsp;7684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34655 |
| Zenas Biopharma, Inc. (A) | &nbsp;&nbsp;3324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32210 |
| Zymeworks, Inc. (A) | 10001 | &nbsp;&nbsp;&nbsp;&nbsp;125513 |
|  |  | 34987797 |
| **Health care equipment and supplies – 2.8%** | **Health care equipment and supplies – 2.8%** |  |
| Accuray, Inc. (A)(B) | 23255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31859 |
| Alphatec Holdings, Inc. (A) | 22326 | &nbsp;&nbsp;&nbsp;&nbsp;247819 |
| AngioDynamics, Inc. (A) | &nbsp;&nbsp;7745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76830 |
| Artivion, Inc. (A) | &nbsp;&nbsp;7401 | &nbsp;&nbsp;&nbsp;&nbsp;230171 |
| AtriCure, Inc. (A) | &nbsp;&nbsp;9333 | &nbsp;&nbsp;&nbsp;&nbsp;305842 |
| Avanos Medical, Inc. (A) | &nbsp;&nbsp;9048 | &nbsp;&nbsp;&nbsp;&nbsp;110748 |
| Axogen, Inc. (A) | &nbsp;&nbsp;8700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94395 |
| Beta Bionics, Inc. (A) | &nbsp;&nbsp;2666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38817 |
| Bioventus, Inc., Class A (A) | &nbsp;&nbsp;9362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61976 |
| Butterfly Network, Inc. (A) | 37625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75250 |
| Ceribell, Inc. (A) | &nbsp;&nbsp;5026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94137 |
| Cerus Corp. (A) | 39241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55330 |
| ClearPoint Neuro, Inc. (A) | &nbsp;&nbsp;5188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61945 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Health care equipment and supplies (continued)** | **Health care equipment and supplies (continued)** |  |
| CONMED Corp. | &nbsp;&nbsp;5948 | $&nbsp;&nbsp;&nbsp;&nbsp;309772 |
| Delcath Systems, Inc. (A) | &nbsp;&nbsp;5911 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80390 |
| Electromed, Inc. (A) | &nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32985 |
| Embecta Corp. | 11685 | &nbsp;&nbsp;&nbsp;&nbsp;113228 |
| Enovis Corp. (A) | 10872 | &nbsp;&nbsp;&nbsp;&nbsp;340946 |
| Glaukos Corp. (A) | 10657 | &nbsp;&nbsp;&nbsp;1100762 |
| Haemonetics Corp. (A) | &nbsp;&nbsp;9607 | &nbsp;&nbsp;&nbsp;&nbsp;716778 |
| ICU Medical, Inc. (A) | &nbsp;&nbsp;4609 | &nbsp;&nbsp;&nbsp;&nbsp;609079 |
| Inogen, Inc. (A) | &nbsp;&nbsp;4921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34595 |
| Integer Holdings Corp. (A) | &nbsp;&nbsp;6510 | &nbsp;&nbsp;&nbsp;&nbsp;800535 |
| Integra LifeSciences Holdings Corp. (A) | 12982 | &nbsp;&nbsp;&nbsp;&nbsp;159289 |
| iRadimed Corp. | &nbsp;&nbsp;1708 | &nbsp;&nbsp;&nbsp;&nbsp;102121 |
| iRhythm Technologies, Inc. (A) | &nbsp;&nbsp;6084 | &nbsp;&nbsp;&nbsp;&nbsp;936693 |
| Kestra Medical Technologies, Ltd. (A) | &nbsp;&nbsp;2870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47585 |
| Lantheus Holdings, Inc. (A)(B) | 12882 | &nbsp;&nbsp;&nbsp;1054521 |
| LeMaitre Vascular, Inc. | &nbsp;&nbsp;4007 | &nbsp;&nbsp;&nbsp;&nbsp;332781 |
| LivaNova PLC (A) | 10396 | &nbsp;&nbsp;&nbsp;&nbsp;468028 |
| Merit Medical Systems, Inc. (A) | 11034 | &nbsp;&nbsp;&nbsp;1031458 |
| Neogen Corp. (A) | 42602 | &nbsp;&nbsp;&nbsp;&nbsp;203638 |
| Neuronetics, Inc. (A) | &nbsp;&nbsp;7417 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25885 |
| NeuroPace, Inc. (A) | &nbsp;&nbsp;4837 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53884 |
| Novocure, Ltd. (A) | 19511 | &nbsp;&nbsp;&nbsp;&nbsp;347296 |
| Omnicell, Inc. (A) | &nbsp;&nbsp;9028 | &nbsp;&nbsp;&nbsp;&nbsp;265423 |
| OraSure Technologies, Inc. (A) | 16331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48993 |
| Orthofix Medical, Inc. (A) | &nbsp;&nbsp;7937 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88498 |
| OrthoPediatrics Corp. (A) | &nbsp;&nbsp;3428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73633 |
| Outset Medical, Inc. (A) | &nbsp;&nbsp;3463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66524 |
| Paragon 28, Inc. (A)(B)(C) | &nbsp;&nbsp;9242 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;832 |
| PROCEPT BioRobotics Corp. (A) | 10054 | &nbsp;&nbsp;&nbsp;&nbsp;579110 |
| Pulse Biosciences, Inc. (A)(B) | &nbsp;&nbsp;3572 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53901 |
| QuidelOrtho Corp. (A) | 13008 | &nbsp;&nbsp;&nbsp;&nbsp;374891 |
| RxSight, Inc. (A) | &nbsp;&nbsp;7408 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96304 |
| SANUWAVE Health, Inc. (A) | &nbsp;&nbsp;1404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46135 |
| Semler Scientific, Inc. (A)(B) | &nbsp;&nbsp;1623 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62875 |
| SI-BONE, Inc. (A) | &nbsp;&nbsp;7423 | &nbsp;&nbsp;&nbsp;&nbsp;139701 |
| STAAR Surgical Company (A)(B) | &nbsp;&nbsp;9682 | &nbsp;&nbsp;&nbsp;&nbsp;162464 |
| Stereotaxis, Inc. (A) | 12354 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26190 |
| Surmodics, Inc. (A) | &nbsp;&nbsp;2823 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83871 |
| Tactile Systems Technology, Inc. (A) | &nbsp;&nbsp;4976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50457 |
| Tandem Diabetes Care, Inc. (A) | 12934 | &nbsp;&nbsp;&nbsp;&nbsp;241090 |
| TransMedics Group, Inc. (A)(B) | &nbsp;&nbsp;6356 | &nbsp;&nbsp;&nbsp;&nbsp;851768 |
| Treace Medical Concepts, Inc. (A) | &nbsp;&nbsp;9764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57412 |
| UFP Technologies, Inc. (A) | &nbsp;&nbsp;1442 | &nbsp;&nbsp;&nbsp;&nbsp;352079 |
| Utah Medical Products, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33981 |
| Varex Imaging Corp. (A) | &nbsp;&nbsp;8155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70704 |
| Zimvie, Inc. (A) | &nbsp;&nbsp;6010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56194 |
|  |  | 14270398 |
| **Health care providers and services – 3.2%** | **Health care providers and services – 3.2%** |  |
| AdaptHealth Corp. (A) | 17760 | &nbsp;&nbsp;&nbsp;&nbsp;167477 |
| Addus HomeCare Corp. (A) | &nbsp;&nbsp;3453 | &nbsp;&nbsp;&nbsp;&nbsp;397751 |
| agilon health, Inc. (A) | 59788 | &nbsp;&nbsp;&nbsp;&nbsp;137512 |
| Alignment Healthcare, Inc. (A) | 24597 | &nbsp;&nbsp;&nbsp;&nbsp;344358 |
| AMN Healthcare Services, Inc. (A) | &nbsp;&nbsp;7361 | &nbsp;&nbsp;&nbsp;&nbsp;152152 |
| Ardent Health, Inc. (A) | &nbsp;&nbsp;4723 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64516 |
| Astrana Health, Inc. (A) | &nbsp;&nbsp;7958 | &nbsp;&nbsp;&nbsp;&nbsp;197995 |
| Aveanna Healthcare Holdings, Inc. (A) | &nbsp;&nbsp;9319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48738 |
| BrightSpring Health Services, Inc. (A) | 16137 | &nbsp;&nbsp;&nbsp;&nbsp;380672 |
| Brookdale Senior Living, Inc. (A) | 43979 | &nbsp;&nbsp;&nbsp;&nbsp;306094 |
| Castle Biosciences, Inc. (A) | &nbsp;&nbsp;5520 | &nbsp;&nbsp;&nbsp;&nbsp;112718 |
| Clover Health Investments Corp. (A) | 77631 | &nbsp;&nbsp;&nbsp;&nbsp;216590 |
| Community Health Systems, Inc. (A) | 25866 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87944 |
| Concentra Group Holdings Parent, Inc. | 22523 | &nbsp;&nbsp;&nbsp;&nbsp;463298 |
| CorVel Corp. (A) | &nbsp;&nbsp;5565 | &nbsp;&nbsp;&nbsp;&nbsp;571971 |
| Cross Country Healthcare, Inc. (A) | &nbsp;&nbsp;6236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81380 |
| DocGo, Inc. (A) | 19525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30654 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 93 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Small Cap Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Health care providers and services (continued)** | **Health care providers and services (continued)** |  |
| Enhabit, Inc. (A) | &nbsp;&nbsp;9559 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92149 |
| Fulgent Genetics, Inc. (A) | &nbsp;&nbsp;4123 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81965 |
| GeneDx Holdings Corp. (A) | &nbsp;&nbsp;3588 | &nbsp;&nbsp;&nbsp;&nbsp;331208 |
| Guardant Health, Inc. (A) | 22799 | &nbsp;&nbsp;&nbsp;1186460 |
| HealthEquity, Inc. (A) | 16269 | &nbsp;&nbsp;&nbsp;1704340 |
| Hims & Hers Health, Inc. (A)(B) | 36375 | &nbsp;&nbsp;&nbsp;1813294 |
| LifeStance Health Group, Inc. (A) | 25912 | &nbsp;&nbsp;&nbsp;&nbsp;133965 |
| Nano-X Imaging, Ltd. (A)(B) | 12658 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65442 |
| National HealthCare Corp. | &nbsp;&nbsp;2437 | &nbsp;&nbsp;&nbsp;&nbsp;260783 |
| National Research Corp. | &nbsp;&nbsp;2563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43058 |
| NeoGenomics, Inc. (A) | 25379 | &nbsp;&nbsp;&nbsp;&nbsp;185520 |
| Nutex Health, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82537 |
| OPKO Health, Inc. (A) | 71126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93886 |
| Option Care Health, Inc. (A) | 31383 | &nbsp;&nbsp;&nbsp;1019320 |
| Owens & Minor, Inc. (A) | 14572 | &nbsp;&nbsp;&nbsp;&nbsp;132605 |
| PACS Group, Inc. (A) | &nbsp;&nbsp;8717 | &nbsp;&nbsp;&nbsp;&nbsp;112624 |
| Pediatrix Medical Group, Inc. (A) | 16444 | &nbsp;&nbsp;&nbsp;&nbsp;235971 |
| Performant Healthcare, Inc. (A) | 14232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56928 |
| Premier, Inc., Class A | 17403 | &nbsp;&nbsp;&nbsp;&nbsp;381648 |
| Privia Health Group, Inc. (A) | 22096 | &nbsp;&nbsp;&nbsp;&nbsp;508208 |
| Progyny, Inc. (A) | 13216 | &nbsp;&nbsp;&nbsp;&nbsp;290752 |
| RadNet, Inc. (A) | 12660 | &nbsp;&nbsp;&nbsp;&nbsp;720481 |
| Select Medical Holdings Corp. | 21489 | &nbsp;&nbsp;&nbsp;&nbsp;326203 |
| Surgery Partners, Inc. (A) | 14823 | &nbsp;&nbsp;&nbsp;&nbsp;329515 |
| Talkspace, Inc. (A) | 24173 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67201 |
| The Ensign Group, Inc. | 10644 | &nbsp;&nbsp;&nbsp;1641943 |
| The Joint Corp. (A) | &nbsp;&nbsp;2421 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27938 |
| The Oncology Institute, Inc. (A) | 11770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24129 |
| The Pennant Group, Inc. (A) | &nbsp;&nbsp;6619 | &nbsp;&nbsp;&nbsp;&nbsp;197577 |
| US Physical Therapy, Inc. | &nbsp;&nbsp;2864 | &nbsp;&nbsp;&nbsp;&nbsp;223965 |
| Viemed Healthcare, Inc. (A) | &nbsp;&nbsp;6762 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46725 |
|  |  | 16180160 |
| **Health care technology – 0.5%** | **Health care technology – 0.5%** |  |
| Claritev Corp. (A) | &nbsp;&nbsp;1518 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68507 |
| Definitive Healthcare Corp. (A) | &nbsp;&nbsp;8288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32323 |
| Evolent Health, Inc., Class A (A) | 22594 | &nbsp;&nbsp;&nbsp;&nbsp;254408 |
| Health Catalyst, Inc. (A) | 14132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53278 |
| HealthStream, Inc. | &nbsp;&nbsp;4933 | &nbsp;&nbsp;&nbsp;&nbsp;136496 |
| LifeMD, Inc. (A) | &nbsp;&nbsp;7141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97260 |
| OptimizeRx Corp. (A) | &nbsp;&nbsp;3480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46980 |
| Phreesia, Inc. (A) | 10877 | &nbsp;&nbsp;&nbsp;&nbsp;309559 |
| Schrodinger, Inc. (A) | 10864 | &nbsp;&nbsp;&nbsp;&nbsp;218584 |
| Simulations Plus, Inc. (B) | &nbsp;&nbsp;3453 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60255 |
| Teladoc Health, Inc. (A) | 34050 | &nbsp;&nbsp;&nbsp;&nbsp;296576 |
| TruBridge, Inc. (A) | &nbsp;&nbsp;2077 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48643 |
| Waystar Holding Corp. (A) | 17376 | &nbsp;&nbsp;&nbsp;&nbsp;710157 |
|  |  | &nbsp;&nbsp;&nbsp;2333026 |
| **Life sciences tools and services – 0.4%** | **Life sciences tools and services – 0.4%** |  |
| 10X Genomics, Inc., Class A (A) | 20349 | &nbsp;&nbsp;&nbsp;&nbsp;235641 |
| Adaptive Biotechnologies Corp. (A) | 28768 | &nbsp;&nbsp;&nbsp;&nbsp;335147 |
| Azenta, Inc. (A) | &nbsp;&nbsp;7829 | &nbsp;&nbsp;&nbsp;&nbsp;240977 |
| BioLife Solutions, Inc. (A) | &nbsp;&nbsp;7381 | &nbsp;&nbsp;&nbsp;&nbsp;158987 |
| Codexis, Inc. (A) | 16795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40980 |
| CryoPort, Inc. (A) | &nbsp;&nbsp;9685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72250 |
| Cytek Biosciences, Inc. (A) | 23649 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80407 |
| Fortrea Holdings, Inc. (A) | 17834 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88100 |
| Lifecore Biomedical, Inc. (A) | &nbsp;&nbsp;5658 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45943 |
| Maravai LifeSciences Holdings, Inc., Class A (A)(B) | 24729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59597 |
| MaxCyte, Inc. (A) | 21493 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46855 |
| Mesa Laboratories, Inc. | &nbsp;&nbsp;1011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95256 |
| Niagen Bioscience, Inc. (A) | 10197 | &nbsp;&nbsp;&nbsp;&nbsp;146939 |
| OmniAb, Inc. (A) | 23552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40980 |
| OmniAb, Inc., $12.50 Earnout Shares (A) | &nbsp;&nbsp;1176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;789 |
| OmniAb, Inc., $15.00 Earnout Shares (A) | &nbsp;&nbsp;1176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;673 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Life sciences tools and services (continued)** | **Life sciences tools and services (continued)** |  |
| Pacific Biosciences of California, Inc. (A)(B) | 54084 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67064 |
| Personalis, Inc. (A) | &nbsp;&nbsp;9807 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64334 |
| Quanterix Corp. (A)(B) | &nbsp;&nbsp;7614 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50633 |
| Quantum-Si, Inc. (A) | 27582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54061 |
| Standard BioTools, Inc. (A) | 61123 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73348 |
|  |  | &nbsp;&nbsp;&nbsp;1998961 |
| **Pharmaceuticals – 1.6%** | **Pharmaceuticals – 1.6%** |  |
| Aclaris Therapeutics, Inc. (A) | 19210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27278 |
| Alumis, Inc. (A)(B) | &nbsp;&nbsp;9563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28689 |
| Amneal Pharmaceuticals, Inc. (A) | 29264 | &nbsp;&nbsp;&nbsp;&nbsp;236746 |
| Amphastar Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;7089 | &nbsp;&nbsp;&nbsp;&nbsp;162763 |
| Amylyx Pharmaceuticals, Inc. (A) | 13707 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87862 |
| ANI Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;3468 | &nbsp;&nbsp;&nbsp;&nbsp;226287 |
| Aquestive Therapeutics, Inc. (A)(B) | 17077 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56525 |
| Arvinas, Inc. (A) | 12818 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94340 |
| Atea Pharmaceuticals, Inc. (A) | 17214 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61970 |
| Avadel Pharmaceuticals PLC (A)(B) | 17300 | &nbsp;&nbsp;&nbsp;&nbsp;153105 |
| Axsome Therapeutics, Inc. (A) | &nbsp;&nbsp;7722 | &nbsp;&nbsp;&nbsp;&nbsp;806100 |
| CinCor Pharma, Inc. (A)(C) | &nbsp;&nbsp;5189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15878 |
| Collegium Pharmaceutical, Inc. (A) | &nbsp;&nbsp;6096 | &nbsp;&nbsp;&nbsp;&nbsp;180259 |
| CorMedix, Inc. (A) | 12374 | &nbsp;&nbsp;&nbsp;&nbsp;152448 |
| Edgewise Therapeutics, Inc. (A) | 14055 | &nbsp;&nbsp;&nbsp;&nbsp;184261 |
| Enliven Therapeutics, Inc. (A)(B) | &nbsp;&nbsp;6313 | &nbsp;&nbsp;&nbsp;&nbsp;126639 |
| Esperion Therapeutics, Inc. (A)(B) | 41753 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41102 |
| Eton Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;5115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72889 |
| Evolus, Inc. (A) | 10332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95158 |
| EyePoint Pharmaceuticals, Inc. (A) | 12007 | &nbsp;&nbsp;&nbsp;&nbsp;112986 |
| Fulcrum Therapeutics, Inc. (A) | 10524 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72405 |
| Harmony Biosciences Holdings, Inc. (A) | &nbsp;&nbsp;8425 | &nbsp;&nbsp;&nbsp;&nbsp;266230 |
| Harrow, Inc. (A) | &nbsp;&nbsp;6061 | &nbsp;&nbsp;&nbsp;&nbsp;185103 |
| Indivior PLC (A) | 23258 | &nbsp;&nbsp;&nbsp;&nbsp;342823 |
| Innoviva, Inc. (A) | 12170 | &nbsp;&nbsp;&nbsp;&nbsp;244495 |
| LENZ Therapeutics, Inc. (A)(B) | &nbsp;&nbsp;3496 | &nbsp;&nbsp;&nbsp;&nbsp;102468 |
| Ligand Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;3643 | &nbsp;&nbsp;&nbsp;&nbsp;414136 |
| Liquidia Corp. (A) | 12447 | &nbsp;&nbsp;&nbsp;&nbsp;155090 |
| MBX Biosciences, Inc. (A)(B) | &nbsp;&nbsp;3438 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39228 |
| MediWound, Ltd. (A)(B) | &nbsp;&nbsp;1678 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32503 |
| Mind Medicine MindMed, Inc. (A)(B) | 14713 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95487 |
| Nuvation Bio, Inc. (A)(B) | 49089 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95724 |
| Ocular Therapeutix, Inc. (A) | 27036 | &nbsp;&nbsp;&nbsp;&nbsp;250894 |
| Omeros Corp. (A)(B) | 11405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34215 |
| Pacira BioSciences, Inc. (A) | &nbsp;&nbsp;8861 | &nbsp;&nbsp;&nbsp;&nbsp;211778 |
| Phathom Pharmaceuticals, Inc. (A)(B) | &nbsp;&nbsp;8197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78609 |
| Phibro Animal Health Corp., Class A | &nbsp;&nbsp;3943 | &nbsp;&nbsp;&nbsp;&nbsp;100704 |
| Poseida Therapeutics, Inc. (A)(B)(C) | 13765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6883 |
| Prestige Consumer Healthcare, Inc. (A) | &nbsp;&nbsp;9379 | &nbsp;&nbsp;&nbsp;&nbsp;748913 |
| Rapport Therapeutics, Inc. (A) | &nbsp;&nbsp;3595 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40875 |
| scPharmaceuticals, Inc. (A)(B) | &nbsp;&nbsp;7931 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30217 |
| Septerna, Inc. (A) | &nbsp;&nbsp;4224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44648 |
| SIGA Technologies, Inc. | &nbsp;&nbsp;8053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52506 |
| Supernus Pharmaceuticals, Inc. (A) | 10308 | &nbsp;&nbsp;&nbsp;&nbsp;324908 |
| Tarsus Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;7437 | &nbsp;&nbsp;&nbsp;&nbsp;301273 |
| Terns Pharmaceuticals, Inc. (A) | 14387 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53664 |
| Theravance Biopharma, Inc. (A)(B) | &nbsp;&nbsp;8222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90689 |
| Third Harmonic Bio, Inc. (A) | &nbsp;&nbsp;5239 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28448 |
| Trevi Therapeutics, Inc. (A) | 15007 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82088 |
| WaVe Life Sciences, Ltd. (A) | 21793 | &nbsp;&nbsp;&nbsp;&nbsp;141655 |
| Xeris Biopharma Holdings, Inc. (A) | 29142 | &nbsp;&nbsp;&nbsp;&nbsp;136093 |
| Zevra Therapeutics, Inc. (A)(B) | 10819 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95315 |
|  |  | &nbsp;&nbsp;&nbsp;7823352 |
|  |  | 77593694 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 94 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Small Cap Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Industrials – 16.4%** |  |  |
| **Aerospace and defense – 1.5%** | **Aerospace and defense – 1.5%** |  |
| AAR Corp. (A) | &nbsp;&nbsp;&nbsp;6811 | $&nbsp;&nbsp;&nbsp;&nbsp;468529 |
| AeroVironment, Inc. (A) | &nbsp;&nbsp;&nbsp;5392 | 1536450 |
| AerSale Corp. (A) | &nbsp;&nbsp;&nbsp;6700 | &nbsp;&nbsp;&nbsp;&nbsp;40267 |
| Archer Aviation, Inc., Class A (A) | 104096 | 1129442 |
| Astronics Corp. (A) | &nbsp;&nbsp;&nbsp;5891 | &nbsp;&nbsp;&nbsp;&nbsp;197231 |
| Byrna Technologies, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;3487 | &nbsp;&nbsp;&nbsp;&nbsp;107679 |
| Cadre Holdings, Inc. | &nbsp;&nbsp;&nbsp;5510 | &nbsp;&nbsp;&nbsp;&nbsp;175494 |
| Ducommun, Inc. (A) | &nbsp;&nbsp;&nbsp;2666 | &nbsp;&nbsp;&nbsp;&nbsp;220292 |
| Eve Holding, Inc. (A)(B) | &nbsp;&nbsp;10455 | &nbsp;&nbsp;&nbsp;&nbsp;71721 |
| Intuitive Machines, Inc. (A) | &nbsp;&nbsp;20944 | &nbsp;&nbsp;&nbsp;&nbsp;227661 |
| Kratos Defense & Security Solutions, Inc. (A) | &nbsp;&nbsp;28987 | 1346446 |
| Mercury Systems, Inc. (A) | &nbsp;&nbsp;&nbsp;9948 | &nbsp;&nbsp;&nbsp;&nbsp;535799 |
| Moog, Inc., Class A | &nbsp;&nbsp;&nbsp;5335 | &nbsp;&nbsp;&nbsp;&nbsp;965475 |
| National Presto Industries, Inc. | &nbsp;&nbsp;&nbsp;1036 | &nbsp;&nbsp;&nbsp;&nbsp;101487 |
| Park Aerospace Corp. | &nbsp;&nbsp;&nbsp;3829 | &nbsp;&nbsp;&nbsp;&nbsp;56554 |
| Redwire Corp. (A) | &nbsp;&nbsp;&nbsp;6518 | &nbsp;&nbsp;&nbsp;&nbsp;106243 |
| Satellogic, Inc., Class A (A) | &nbsp;&nbsp;13526 | &nbsp;&nbsp;&nbsp;&nbsp;48964 |
| Triumph Group, Inc. (A) | &nbsp;&nbsp;14323 | &nbsp;&nbsp;&nbsp;&nbsp;368817 |
| V2X, Inc. (A) | &nbsp;&nbsp;&nbsp;3332 | &nbsp;&nbsp;&nbsp;&nbsp;161769 |
|  |  | 7866320 |
| **Air freight and logistics – 0.1%** | **Air freight and logistics – 0.1%** |  |
| Forward Air Corp. (A)(B) | &nbsp;&nbsp;&nbsp;4359 | &nbsp;&nbsp;&nbsp;&nbsp;106970 |
| Hub Group, Inc., Class A | &nbsp;&nbsp;11245 | &nbsp;&nbsp;&nbsp;&nbsp;375920 |
| Radiant Logistics, Inc. (A) | &nbsp;&nbsp;&nbsp;8366 | &nbsp;&nbsp;&nbsp;&nbsp;50865 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;533755 |
| **Building products – 1.3%** | **Building products – 1.3%** |  |
| American Woodmark Corp. (A) | &nbsp;&nbsp;&nbsp;2793 | &nbsp;&nbsp;&nbsp;&nbsp;149062 |
| Apogee Enterprises, Inc. | &nbsp;&nbsp;&nbsp;4156 | &nbsp;&nbsp;&nbsp;&nbsp;168734 |
| AZZ, Inc. | &nbsp;&nbsp;&nbsp;5659 | &nbsp;&nbsp;&nbsp;&nbsp;534662 |
| CSW Industrials, Inc. | &nbsp;&nbsp;&nbsp;3096 | &nbsp;&nbsp;&nbsp;&nbsp;888026 |
| Gibraltar Industries, Inc. (A) | &nbsp;&nbsp;&nbsp;5702 | &nbsp;&nbsp;&nbsp;&nbsp;336418 |
| Griffon Corp. | &nbsp;&nbsp;&nbsp;7382 | &nbsp;&nbsp;&nbsp;&nbsp;534235 |
| Insteel Industries, Inc. | &nbsp;&nbsp;&nbsp;3585 | &nbsp;&nbsp;&nbsp;&nbsp;133398 |
| Janus International Group, Inc. (A) | &nbsp;&nbsp;26351 | &nbsp;&nbsp;&nbsp;&nbsp;214497 |
| JELD-WEN Holding, Inc. (A) | &nbsp;&nbsp;18088 | &nbsp;&nbsp;&nbsp;&nbsp;70905 |
| Masterbrand, Inc. (A) | &nbsp;&nbsp;24486 | &nbsp;&nbsp;&nbsp;&nbsp;267632 |
| Quanex Building Products Corp. | &nbsp;&nbsp;&nbsp;9172 | &nbsp;&nbsp;&nbsp;&nbsp;173351 |
| Resideo Technologies, Inc. (A) | &nbsp;&nbsp;28300 | &nbsp;&nbsp;&nbsp;&nbsp;624298 |
| Tecnoglass, Inc. (B) | &nbsp;&nbsp;&nbsp;4651 | &nbsp;&nbsp;&nbsp;&nbsp;359801 |
| UFP Industries, Inc. | &nbsp;&nbsp;11458 | 1138467 |
| Zurn Elkay Water Solutions Corp. | &nbsp;&nbsp;28569 | 1044768 |
|  |  | 6638254 |
| **Commercial services and supplies – 1.8%** | **Commercial services and supplies – 1.8%** |  |
| ABM Industries, Inc. | &nbsp;&nbsp;11759 | &nbsp;&nbsp;&nbsp;&nbsp;555142 |
| ACCO Brands Corp. | &nbsp;&nbsp;18727 | &nbsp;&nbsp;&nbsp;&nbsp;67043 |
| ACV Auctions, Inc., Class A (A) | &nbsp;&nbsp;32152 | &nbsp;&nbsp;&nbsp;&nbsp;521505 |
| BrightView Holdings, Inc. (A) | &nbsp;&nbsp;11789 | &nbsp;&nbsp;&nbsp;&nbsp;196287 |
| Casella Waste Systems, Inc., Class A (A) | &nbsp;&nbsp;11979 | 1382137 |
| CECO Environmental Corp. (A) | &nbsp;&nbsp;&nbsp;5662 | &nbsp;&nbsp;&nbsp;&nbsp;160291 |
| Cimpress PLC (A) | &nbsp;&nbsp;&nbsp;2943 | &nbsp;&nbsp;&nbsp;&nbsp;138321 |
| CoreCivic, Inc. (A) | &nbsp;&nbsp;20631 | &nbsp;&nbsp;&nbsp;&nbsp;434695 |
| Deluxe Corp. | &nbsp;&nbsp;&nbsp;8430 | &nbsp;&nbsp;&nbsp;&nbsp;134121 |
| Driven Brands Holdings, Inc. (A) | &nbsp;&nbsp;11670 | &nbsp;&nbsp;&nbsp;&nbsp;204925 |
| Ennis, Inc. | &nbsp;&nbsp;&nbsp;4975 | &nbsp;&nbsp;&nbsp;&nbsp;90247 |
| Enviri Corp. (A) | &nbsp;&nbsp;14815 | &nbsp;&nbsp;&nbsp;&nbsp;128594 |
| Healthcare Services Group, Inc. (A) | &nbsp;&nbsp;14112 | &nbsp;&nbsp;&nbsp;&nbsp;212103 |
| HNI Corp. | &nbsp;&nbsp;&nbsp;8747 | &nbsp;&nbsp;&nbsp;&nbsp;430177 |
| Interface, Inc. | &nbsp;&nbsp;11336 | &nbsp;&nbsp;&nbsp;&nbsp;237262 |
| Liquidity Services, Inc. (A) | &nbsp;&nbsp;&nbsp;4590 | &nbsp;&nbsp;&nbsp;&nbsp;108278 |
| MillerKnoll, Inc. | &nbsp;&nbsp;12931 | &nbsp;&nbsp;&nbsp;&nbsp;251120 |
| Montrose Environmental Group, Inc. (A) | &nbsp;&nbsp;&nbsp;6380 | &nbsp;&nbsp;&nbsp;&nbsp;139658 |
| OPENLANE, Inc. (A) | &nbsp;&nbsp;20371 | &nbsp;&nbsp;&nbsp;&nbsp;498071 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Commercial services and supplies (continued)** | **Commercial services and supplies (continued)** |  |
| Perma-Fix Environmental Services, Inc. (A) | &nbsp;&nbsp;&nbsp;3802 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39997 |
| Pitney Bowes, Inc. | &nbsp;&nbsp;35048 | &nbsp;&nbsp;&nbsp;&nbsp;382374 |
| Quad/Graphics, Inc. | &nbsp;&nbsp;&nbsp;6242 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35267 |
| Steelcase, Inc., Class A | &nbsp;&nbsp;16129 | &nbsp;&nbsp;&nbsp;&nbsp;168225 |
| The Brink's Company | &nbsp;&nbsp;&nbsp;8221 | &nbsp;&nbsp;&nbsp;&nbsp;734053 |
| The GEO Group, Inc. (A) | &nbsp;&nbsp;26115 | &nbsp;&nbsp;&nbsp;&nbsp;625454 |
| UniFirst Corp. | &nbsp;&nbsp;&nbsp;2896 | &nbsp;&nbsp;&nbsp;&nbsp;545085 |
| Vestis Corp. | &nbsp;&nbsp;22546 | &nbsp;&nbsp;&nbsp;&nbsp;129189 |
| VSE Corp. | &nbsp;&nbsp;&nbsp;3878 | &nbsp;&nbsp;&nbsp;&nbsp;507940 |
|  |  | &nbsp;&nbsp;&nbsp;9057561 |
| **Construction and engineering – 2.1%** | **Construction and engineering – 2.1%** |  |
| Ameresco, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;6284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95454 |
| Arcosa, Inc. | &nbsp;&nbsp;&nbsp;9256 | &nbsp;&nbsp;&nbsp;&nbsp;802588 |
| Argan, Inc. | &nbsp;&nbsp;&nbsp;2543 | &nbsp;&nbsp;&nbsp;&nbsp;560681 |
| Bowman Consulting Group, Ltd. (A) | &nbsp;&nbsp;&nbsp;2886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82973 |
| Centuri Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;3460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77642 |
| Concrete Pumping Holdings, Inc. | &nbsp;&nbsp;&nbsp;4954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30467 |
| Construction Partners, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;8955 | &nbsp;&nbsp;&nbsp;&nbsp;951737 |
| Dycom Industries, Inc. (A) | &nbsp;&nbsp;&nbsp;5341 | &nbsp;&nbsp;&nbsp;1305287 |
| Fluor Corp. (A) | &nbsp;&nbsp;31873 | &nbsp;&nbsp;&nbsp;1634129 |
| Granite Construction, Inc. (B) | &nbsp;&nbsp;&nbsp;8273 | &nbsp;&nbsp;&nbsp;&nbsp;773608 |
| Great Lakes Dredge & Dock Corp. (A) | &nbsp;&nbsp;12909 | &nbsp;&nbsp;&nbsp;&nbsp;157361 |
| IES Holdings, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;1730 | &nbsp;&nbsp;&nbsp;&nbsp;512478 |
| Limbach Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;2042 | &nbsp;&nbsp;&nbsp;&nbsp;286084 |
| Matrix Service Company (A) | &nbsp;&nbsp;&nbsp;5453 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73670 |
| MYR Group, Inc. (A) | &nbsp;&nbsp;&nbsp;2945 | &nbsp;&nbsp;&nbsp;&nbsp;534370 |
| NWPX Infrastructure, Inc. (A) | &nbsp;&nbsp;&nbsp;1942 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79641 |
| Orion Group Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;7392 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67045 |
| Primoris Services Corp. | &nbsp;&nbsp;10287 | &nbsp;&nbsp;&nbsp;&nbsp;801769 |
| Sterling Infrastructure, Inc. (A) | &nbsp;&nbsp;&nbsp;5692 | &nbsp;&nbsp;&nbsp;1313315 |
| Tutor Perini Corp. (A) | &nbsp;&nbsp;&nbsp;8515 | &nbsp;&nbsp;&nbsp;&nbsp;398332 |
|  |  | 10538631 |
| **Electrical equipment – 1.5%** | **Electrical equipment – 1.5%** |  |
| Allient, Inc. | &nbsp;&nbsp;&nbsp;2819 | &nbsp;&nbsp;&nbsp;&nbsp;102358 |
| American Superconductor Corp. (A) | &nbsp;&nbsp;&nbsp;7324 | &nbsp;&nbsp;&nbsp;&nbsp;268718 |
| Amprius Technologies, Inc. (A) | &nbsp;&nbsp;18156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76437 |
| Array Technologies, Inc. (A) | &nbsp;&nbsp;29051 | &nbsp;&nbsp;&nbsp;&nbsp;171401 |
| Atkore, Inc. | &nbsp;&nbsp;&nbsp;6548 | &nbsp;&nbsp;&nbsp;&nbsp;461961 |
| Bloom Energy Corp., Class A (A)(B) | &nbsp;&nbsp;39141 | &nbsp;&nbsp;&nbsp;&nbsp;936253 |
| EnerSys | &nbsp;&nbsp;&nbsp;7459 | &nbsp;&nbsp;&nbsp;&nbsp;639758 |
| Enovix Corp. (A)(B) | &nbsp;&nbsp;31693 | &nbsp;&nbsp;&nbsp;&nbsp;327706 |
| Eos Energy Enterprises, Inc. (A)(B) | &nbsp;&nbsp;42829 | &nbsp;&nbsp;&nbsp;&nbsp;219284 |
| Fluence Energy, Inc. (A)(B) | &nbsp;&nbsp;14927 | &nbsp;&nbsp;&nbsp;&nbsp;100160 |
| Hyliion Holdings Corp. (A) | &nbsp;&nbsp;27480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36274 |
| KULR Technology Group, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;6419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45767 |
| LSI Industries, Inc. | &nbsp;&nbsp;&nbsp;5480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93215 |
| NANO Nuclear Energy, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;5116 | &nbsp;&nbsp;&nbsp;&nbsp;176451 |
| NEXTracker, Inc., Class A (A) | &nbsp;&nbsp;27085 | &nbsp;&nbsp;&nbsp;1472611 |
| NuScale Power Corp. (A) | &nbsp;&nbsp;24205 | &nbsp;&nbsp;&nbsp;&nbsp;957550 |
| Plug Power, Inc. (A) | 175849 | &nbsp;&nbsp;&nbsp;&nbsp;262015 |
| Powell Industries, Inc. (B) | &nbsp;&nbsp;&nbsp;1836 | &nbsp;&nbsp;&nbsp;&nbsp;386386 |
| Power Solutions International, Inc. (A) | &nbsp;&nbsp;&nbsp;1270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82144 |
| Preformed Line Products Company | &nbsp;&nbsp;&nbsp;&nbsp;485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77508 |
| Shoals Technologies Group, Inc., Class A (A) | &nbsp;&nbsp;32457 | &nbsp;&nbsp;&nbsp;&nbsp;137942 |
| SunPower Corp. (A)(C) | &nbsp;&nbsp;18631 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Sunrun, Inc. (A) | &nbsp;&nbsp;40166 | &nbsp;&nbsp;&nbsp;&nbsp;328558 |
| T1 Energy, Inc. (A)(B) | &nbsp;&nbsp;22657 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27868 |
| Thermon Group Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;6447 | &nbsp;&nbsp;&nbsp;&nbsp;181032 |
| Vicor Corp. (A) | &nbsp;&nbsp;&nbsp;4548 | &nbsp;&nbsp;&nbsp;&nbsp;206297 |
|  |  | &nbsp;&nbsp;&nbsp;7775654 |
| **Ground transportation – 0.4%** | **Ground transportation – 0.4%** |  |
| ArcBest Corp. | &nbsp;&nbsp;&nbsp;4370 | &nbsp;&nbsp;&nbsp;&nbsp;336534 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 95 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Small Cap Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Ground transportation (continued)** | **Ground transportation (continued)** |  |
| Covenant Logistics Group, Inc. | &nbsp;&nbsp;3196 | $&nbsp;&nbsp;&nbsp;&nbsp;77056 |
| FTAI Infrastructure, Inc. | 19005 | &nbsp;&nbsp;&nbsp;&nbsp;117261 |
| Heartland Express, Inc. | 10566 | &nbsp;&nbsp;&nbsp;&nbsp;91290 |
| Hertz Global Holdings, Inc. (A)(B) | 22771 | &nbsp;&nbsp;&nbsp;&nbsp;155526 |
| Marten Transport, Ltd. | 12202 | &nbsp;&nbsp;&nbsp;&nbsp;158504 |
| Proficient Auto Logistics, Inc. (A) | &nbsp;&nbsp;4869 | &nbsp;&nbsp;&nbsp;&nbsp;35349 |
| RXO, Inc. (A) | 31216 | &nbsp;&nbsp;&nbsp;&nbsp;490716 |
| Universal Logistics Holdings, Inc. (B) | &nbsp;&nbsp;1382 | &nbsp;&nbsp;&nbsp;&nbsp;35075 |
| Werner Enterprises, Inc. | 11346 | &nbsp;&nbsp;&nbsp;&nbsp;310427 |
|  |  | 1807738 |
| **Industrial conglomerates – 0.0%** | **Industrial conglomerates – 0.0%** |  |
| Brookfield Business Corp., Class A | &nbsp;&nbsp;4814 | &nbsp;&nbsp;&nbsp;&nbsp;150197 |
| **Machinery – 3.7%** | **Machinery – 3.7%** |  |
| 3D Systems Corp. (A) | 28538 | &nbsp;&nbsp;&nbsp;&nbsp;43949 |
| Alamo Group, Inc. | &nbsp;&nbsp;1949 | &nbsp;&nbsp;&nbsp;&nbsp;425623 |
| Albany International Corp., Class A | &nbsp;&nbsp;5707 | &nbsp;&nbsp;&nbsp;&nbsp;400232 |
| Astec Industries, Inc. | &nbsp;&nbsp;4432 | &nbsp;&nbsp;&nbsp;&nbsp;184770 |
| Atmus Filtration Technologies, Inc. | 15790 | &nbsp;&nbsp;&nbsp;&nbsp;575072 |
| Blue Bird Corp. (A)(B) | &nbsp;&nbsp;6152 | &nbsp;&nbsp;&nbsp;&nbsp;265520 |
| Chart Industries, Inc. (A) | &nbsp;&nbsp;8615 | 1418460 |
| Columbus McKinnon Corp. | &nbsp;&nbsp;5770 | &nbsp;&nbsp;&nbsp;&nbsp;88108 |
| Douglas Dynamics, Inc. | &nbsp;&nbsp;4393 | &nbsp;&nbsp;&nbsp;&nbsp;129462 |
| Energy Recovery, Inc. (A) | 10462 | &nbsp;&nbsp;&nbsp;&nbsp;133704 |
| Enerpac Tool Group Corp. | 10394 | &nbsp;&nbsp;&nbsp;&nbsp;421581 |
| Enpro, Inc. | &nbsp;&nbsp;4024 | &nbsp;&nbsp;&nbsp;&nbsp;770797 |
| ESCO Technologies, Inc. | &nbsp;&nbsp;4944 | &nbsp;&nbsp;&nbsp;&nbsp;948605 |
| Federal Signal Corp. | 11420 | 1215316 |
| Franklin Electric Company, Inc. | &nbsp;&nbsp;7564 | &nbsp;&nbsp;&nbsp;&nbsp;678793 |
| Gencor Industries, Inc. (A) | &nbsp;&nbsp;2346 | &nbsp;&nbsp;&nbsp;&nbsp;32844 |
| Graham Corp. (A) | &nbsp;&nbsp;2089 | &nbsp;&nbsp;&nbsp;&nbsp;103426 |
| Helios Technologies, Inc. | &nbsp;&nbsp;6414 | &nbsp;&nbsp;&nbsp;&nbsp;214035 |
| Hillenbrand, Inc. | 13639 | &nbsp;&nbsp;&nbsp;&nbsp;273735 |
| Hillman Solutions Corp. (A) | 38473 | &nbsp;&nbsp;&nbsp;&nbsp;274697 |
| Hyster-Yale, Inc. | &nbsp;&nbsp;2329 | &nbsp;&nbsp;&nbsp;&nbsp;92648 |
| JBT Marel Corp. | &nbsp;&nbsp;9951 | 1196707 |
| Kadant, Inc. (B) | &nbsp;&nbsp;2232 | &nbsp;&nbsp;&nbsp;&nbsp;708548 |
| Kennametal, Inc. | 14430 | &nbsp;&nbsp;&nbsp;&nbsp;331313 |
| LB Foster Company, Class A (A) | &nbsp;&nbsp;1781 | &nbsp;&nbsp;&nbsp;&nbsp;38950 |
| Lindsay Corp. | &nbsp;&nbsp;2082 | &nbsp;&nbsp;&nbsp;&nbsp;300329 |
| Luxfer Holdings PLC | &nbsp;&nbsp;5602 | &nbsp;&nbsp;&nbsp;&nbsp;68232 |
| Mayville Engineering Company, Inc. (A) | &nbsp;&nbsp;3021 | &nbsp;&nbsp;&nbsp;&nbsp;48215 |
| Microvast Holdings, Inc. (A) | 38212 | &nbsp;&nbsp;&nbsp;&nbsp;138710 |
| Miller Industries, Inc. | &nbsp;&nbsp;2129 | &nbsp;&nbsp;&nbsp;&nbsp;94655 |
| Mueller Water Products, Inc., Class A | 29707 | &nbsp;&nbsp;&nbsp;&nbsp;714156 |
| Omega Flex, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;914 | &nbsp;&nbsp;&nbsp;&nbsp;29595 |
| Palladyne AI Corp. (A) | &nbsp;&nbsp;4968 | &nbsp;&nbsp;&nbsp;&nbsp;43023 |
| Park-Ohio Holdings Corp. | &nbsp;&nbsp;1859 | &nbsp;&nbsp;&nbsp;&nbsp;33202 |
| Proto Labs, Inc. (A) | &nbsp;&nbsp;4588 | &nbsp;&nbsp;&nbsp;&nbsp;183704 |
| REV Group, Inc. | &nbsp;&nbsp;9804 | &nbsp;&nbsp;&nbsp;&nbsp;466572 |
| Richtech Robotics, Inc., Class B (A)(B) | 13620 | &nbsp;&nbsp;&nbsp;&nbsp;26559 |
| SPX Technologies, Inc. (A) | &nbsp;&nbsp;8694 | 1457810 |
| Standex International Corp. | &nbsp;&nbsp;2274 | &nbsp;&nbsp;&nbsp;&nbsp;355836 |
| Tennant Company | &nbsp;&nbsp;3546 | &nbsp;&nbsp;&nbsp;&nbsp;274744 |
| Terex Corp. | 12329 | &nbsp;&nbsp;&nbsp;&nbsp;575641 |
| The Gorman-Rupp Company | &nbsp;&nbsp;4237 | &nbsp;&nbsp;&nbsp;&nbsp;155583 |
| The Greenbrier Companies, Inc. | &nbsp;&nbsp;5781 | &nbsp;&nbsp;&nbsp;&nbsp;266215 |
| The Manitowoc Company, Inc. (A) | &nbsp;&nbsp;6687 | &nbsp;&nbsp;&nbsp;&nbsp;80378 |
| The Shyft Group, Inc. | &nbsp;&nbsp;6463 | &nbsp;&nbsp;&nbsp;&nbsp;81046 |
| Titan International, Inc. (A) | &nbsp;&nbsp;9565 | &nbsp;&nbsp;&nbsp;&nbsp;98233 |
| Trinity Industries, Inc. | 15529 | &nbsp;&nbsp;&nbsp;&nbsp;419438 |
| Wabash National Corp. | &nbsp;&nbsp;8289 | &nbsp;&nbsp;&nbsp;&nbsp;88112 |
| Watts Water Technologies, Inc., Class A | &nbsp;&nbsp;5195 | 1277399 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Machinery (continued)** | **Machinery (continued)** |  |
| Worthington Enterprises, Inc. | &nbsp;&nbsp;6107 | $&nbsp;&nbsp;&nbsp;&nbsp;388649 |
|  |  | 18632931 |
| **Marine transportation – 0.2%** | **Marine transportation – 0.2%** |  |
| Costamare, Inc. | &nbsp;&nbsp;8714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79385 |
| Genco Shipping & Trading, Ltd. | &nbsp;&nbsp;7450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97372 |
| Golden Ocean Group, Ltd. | 19332 | &nbsp;&nbsp;&nbsp;&nbsp;141510 |
| Himalaya Shipping, Ltd. (A)(B) | &nbsp;&nbsp;6273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36195 |
| Matson, Inc. | &nbsp;&nbsp;6178 | &nbsp;&nbsp;&nbsp;&nbsp;687920 |
| Pangaea Logistics Solutions, Ltd. | &nbsp;&nbsp;6331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29756 |
| Safe Bulkers, Inc. | 12130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43789 |
|  |  | &nbsp;&nbsp;&nbsp;1115927 |
| **Passenger airlines – 0.5%** | **Passenger airlines – 0.5%** |  |
| Allegiant Travel Company (A) | &nbsp;&nbsp;2773 | &nbsp;&nbsp;&nbsp;&nbsp;152376 |
| Blade Air Mobility, Inc. (A) | 13033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52523 |
| Frontier Group Holdings, Inc. (A)(B) | 16957 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61554 |
| JetBlue Airways Corp. (A) | 61830 | &nbsp;&nbsp;&nbsp;&nbsp;261541 |
| Joby Aviation, Inc. (A)(B) | 88434 | &nbsp;&nbsp;&nbsp;&nbsp;932979 |
| SkyWest, Inc. (A) | &nbsp;&nbsp;7669 | &nbsp;&nbsp;&nbsp;&nbsp;789677 |
| Sun Country Airlines Holdings, Inc. (A) | &nbsp;&nbsp;9821 | &nbsp;&nbsp;&nbsp;&nbsp;115397 |
|  |  | &nbsp;&nbsp;&nbsp;2366047 |
| **Professional services – 2.0%** | **Professional services – 2.0%** |  |
| Acuren Corp. (A) | 20581 | &nbsp;&nbsp;&nbsp;&nbsp;227214 |
| Alight, Inc., Class A | 81331 | &nbsp;&nbsp;&nbsp;&nbsp;460333 |
| Asure Software, Inc. (A) | &nbsp;&nbsp;4722 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46087 |
| Barrett Business Services, Inc. | &nbsp;&nbsp;4757 | &nbsp;&nbsp;&nbsp;&nbsp;198319 |
| BlackSky Technology, Inc. (A)(B) | &nbsp;&nbsp;5456 | &nbsp;&nbsp;&nbsp;&nbsp;112284 |
| CBIZ, Inc. (A) | 10009 | &nbsp;&nbsp;&nbsp;&nbsp;717745 |
| Conduent, Inc. (A) | 29559 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78036 |
| CRA International, Inc. | &nbsp;&nbsp;1271 | &nbsp;&nbsp;&nbsp;&nbsp;238147 |
| CSG Systems International, Inc. | &nbsp;&nbsp;5262 | &nbsp;&nbsp;&nbsp;&nbsp;343661 |
| Exponent, Inc. | &nbsp;&nbsp;9718 | &nbsp;&nbsp;&nbsp;&nbsp;726032 |
| First Advantage Corp. (A) | 15293 | &nbsp;&nbsp;&nbsp;&nbsp;254017 |
| Franklin Covey Company (A) | &nbsp;&nbsp;2482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56639 |
| Heidrick & Struggles International, Inc. | &nbsp;&nbsp;3951 | &nbsp;&nbsp;&nbsp;&nbsp;180798 |
| Huron Consulting Group, Inc. (A) | &nbsp;&nbsp;3255 | &nbsp;&nbsp;&nbsp;&nbsp;447693 |
| IBEX Holdings, Ltd. (A) | &nbsp;&nbsp;2067 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60150 |
| ICF International, Inc. | &nbsp;&nbsp;3503 | &nbsp;&nbsp;&nbsp;&nbsp;296739 |
| Innodata, Inc. (A) | &nbsp;&nbsp;5804 | &nbsp;&nbsp;&nbsp;&nbsp;297281 |
| Insperity, Inc. | &nbsp;&nbsp;6909 | &nbsp;&nbsp;&nbsp;&nbsp;415369 |
| Kelly Services, Inc., Class A | &nbsp;&nbsp;6325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74066 |
| Kforce, Inc. | &nbsp;&nbsp;3518 | &nbsp;&nbsp;&nbsp;&nbsp;144695 |
| Korn Ferry | &nbsp;&nbsp;9778 | &nbsp;&nbsp;&nbsp;&nbsp;717021 |
| Legalzoom.com, Inc. (A) | 21406 | &nbsp;&nbsp;&nbsp;&nbsp;190727 |
| Maximus, Inc. | 10774 | &nbsp;&nbsp;&nbsp;&nbsp;756335 |
| Mistras Group, Inc. (A) | &nbsp;&nbsp;3608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28900 |
| NV5 Global, Inc. (A) | 11267 | &nbsp;&nbsp;&nbsp;&nbsp;260155 |
| Planet Labs PBC (A) | 41156 | &nbsp;&nbsp;&nbsp;&nbsp;251052 |
| Resolute Holdings Management, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;898 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28619 |
| Resources Connection, Inc. | &nbsp;&nbsp;7105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38154 |
| Spire Global, Inc. (A) | &nbsp;&nbsp;5492 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65355 |
| TriNet Group, Inc. | &nbsp;&nbsp;5722 | &nbsp;&nbsp;&nbsp;&nbsp;418507 |
| TrueBlue, Inc. (A) | &nbsp;&nbsp;6251 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40506 |
| Upwork, Inc. (A) | 23718 | &nbsp;&nbsp;&nbsp;&nbsp;318770 |
| Verra Mobility Corp. (A) | 30472 | &nbsp;&nbsp;&nbsp;&nbsp;773684 |
| Willdan Group, Inc. (A) | &nbsp;&nbsp;2677 | &nbsp;&nbsp;&nbsp;&nbsp;167339 |
| WNS Holdings, Ltd. (A) | &nbsp;&nbsp;7734 | &nbsp;&nbsp;&nbsp;&nbsp;489098 |
|  |  | &nbsp;&nbsp;&nbsp;9919527 |
| **Trading companies and distributors – 1.3%** | **Trading companies and distributors – 1.3%** |  |
| Alta Equipment Group, Inc. (B) | &nbsp;&nbsp;4607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29116 |
| BlueLinx Holdings, Inc. (A) | &nbsp;&nbsp;1478 | &nbsp;&nbsp;&nbsp;&nbsp;109934 |
| Boise Cascade Company | &nbsp;&nbsp;7225 | &nbsp;&nbsp;&nbsp;&nbsp;627275 |
| Custom Truck One Source, Inc. (A)(B) | 12214 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60337 |
| Distribution Solutions Group, Inc. (A) | &nbsp;&nbsp;2254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61917 |
| DNOW, Inc. (A) | 20687 | &nbsp;&nbsp;&nbsp;&nbsp;306788 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 96 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Small Cap Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Trading companies and distributors (continued)** | **Trading companies and distributors (continued)** |  |
| DXP Enterprises, Inc. (A) | &nbsp;&nbsp;2499 | $&nbsp;&nbsp;&nbsp;&nbsp;219037 |
| GATX Corp. | &nbsp;&nbsp;6835 | &nbsp;&nbsp;&nbsp;1049583 |
| Global Industrial, Inc. | &nbsp;&nbsp;3199 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86405 |
| GMS, Inc. (A) | &nbsp;&nbsp;7341 | &nbsp;&nbsp;&nbsp;&nbsp;798334 |
| Herc Holdings, Inc. | &nbsp;&nbsp;6233 | &nbsp;&nbsp;&nbsp;&nbsp;820824 |
| Hudson Technologies, Inc. (A) | &nbsp;&nbsp;7578 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61533 |
| Karat Packaging, Inc. | &nbsp;&nbsp;1535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43226 |
| McGrath RentCorp | &nbsp;&nbsp;4725 | &nbsp;&nbsp;&nbsp;&nbsp;547911 |
| MRC Global, Inc. (A) | 16443 | &nbsp;&nbsp;&nbsp;&nbsp;225434 |
| NPK International, Inc. (A) | 15744 | &nbsp;&nbsp;&nbsp;&nbsp;133981 |
| Rush Enterprises, Inc., Class A | 11763 | &nbsp;&nbsp;&nbsp;&nbsp;605912 |
| Rush Enterprises, Inc., Class B | &nbsp;&nbsp;1932 | &nbsp;&nbsp;&nbsp;&nbsp;101391 |
| Titan Machinery, Inc. (A) | &nbsp;&nbsp;4065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80528 |
| Transcat, Inc. (A) | &nbsp;&nbsp;1772 | &nbsp;&nbsp;&nbsp;&nbsp;152321 |
| Willis Lease Finance Corp. | &nbsp;&nbsp;&nbsp;&nbsp;699 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99803 |
| Xometry, Inc., Class A (A) | &nbsp;&nbsp;8369 | &nbsp;&nbsp;&nbsp;&nbsp;282789 |
|  |  | &nbsp;&nbsp;&nbsp;6504379 |
| **Transportation infrastructure – 0.0%** | **Transportation infrastructure – 0.0%** |  |
| Sky Harbour Group Corp. (A) | &nbsp;&nbsp;4432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43301 |
|  |  | 82950222 |
| **Information technology – 14.1%** |  |  |
| **Communications equipment – 0.7%** | **Communications equipment – 0.7%** |  |
| ADTRAN Holdings, Inc. (A) | 14443 | &nbsp;&nbsp;&nbsp;&nbsp;129554 |
| Applied Optoelectronics, Inc. (A)(B) | 10277 | &nbsp;&nbsp;&nbsp;&nbsp;264016 |
| Aviat Networks, Inc. (A) | &nbsp;&nbsp;2371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57023 |
| BK Technologies Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;568 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26770 |
| Calix, Inc. (A) | 11221 | &nbsp;&nbsp;&nbsp;&nbsp;596845 |
| Clearfield, Inc. (A) | &nbsp;&nbsp;2270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98541 |
| CommScope Holding Company, Inc. (A) | 40766 | &nbsp;&nbsp;&nbsp;&nbsp;337542 |
| Digi International, Inc. (A) | &nbsp;&nbsp;6983 | &nbsp;&nbsp;&nbsp;&nbsp;243427 |
| Extreme Networks, Inc. (A) | 25131 | &nbsp;&nbsp;&nbsp;&nbsp;451101 |
| Harmonic, Inc. (A) | 21805 | &nbsp;&nbsp;&nbsp;&nbsp;206493 |
| NETGEAR, Inc. (A) | &nbsp;&nbsp;5342 | &nbsp;&nbsp;&nbsp;&nbsp;155292 |
| NetScout Systems, Inc. (A) | 13534 | &nbsp;&nbsp;&nbsp;&nbsp;335779 |
| Ribbon Communications, Inc. (A) | 19287 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77341 |
| Viasat, Inc. (A) | 21731 | &nbsp;&nbsp;&nbsp;&nbsp;317273 |
| Viavi Solutions, Inc. (A) | 42537 | &nbsp;&nbsp;&nbsp;&nbsp;428348 |
|  |  | &nbsp;&nbsp;&nbsp;3725345 |
| **Electronic equipment, instruments and components – 3.4%** | **Electronic equipment, instruments and components – 3.4%** |  |
| 908 Devices, Inc. (A) | &nbsp;&nbsp;5659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40349 |
| Advanced Energy Industries, Inc. | &nbsp;&nbsp;7179 | &nbsp;&nbsp;&nbsp;&nbsp;951218 |
| Aeva Technologies, Inc. (A)(B) | &nbsp;&nbsp;5892 | &nbsp;&nbsp;&nbsp;&nbsp;222659 |
| Arlo Technologies, Inc. (A) | 19192 | &nbsp;&nbsp;&nbsp;&nbsp;325496 |
| Badger Meter, Inc. | &nbsp;&nbsp;5652 | &nbsp;&nbsp;&nbsp;1384457 |
| Bel Fuse, Inc., Class B | &nbsp;&nbsp;2204 | &nbsp;&nbsp;&nbsp;&nbsp;215309 |
| Belden, Inc. | &nbsp;&nbsp;7503 | &nbsp;&nbsp;&nbsp;&nbsp;868847 |
| Benchmark Electronics, Inc. | &nbsp;&nbsp;6841 | &nbsp;&nbsp;&nbsp;&nbsp;265636 |
| Climb Global Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81252 |
| CTS Corp. | &nbsp;&nbsp;5681 | &nbsp;&nbsp;&nbsp;&nbsp;242067 |
| Daktronics, Inc. (A)(B) | &nbsp;&nbsp;8056 | &nbsp;&nbsp;&nbsp;&nbsp;121807 |
| ePlus, Inc. (A) | &nbsp;&nbsp;5041 | &nbsp;&nbsp;&nbsp;&nbsp;363456 |
| Evolv Technologies Holdings, Inc. (A) | 22416 | &nbsp;&nbsp;&nbsp;&nbsp;139876 |
| Fabrinet (A) | &nbsp;&nbsp;6891 | &nbsp;&nbsp;&nbsp;2030640 |
| FARO Technologies, Inc. (A) | &nbsp;&nbsp;3680 | &nbsp;&nbsp;&nbsp;&nbsp;161626 |
| Frequency Electronics, Inc. | &nbsp;&nbsp;1465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33270 |
| Insight Enterprises, Inc. (A) | &nbsp;&nbsp;5276 | &nbsp;&nbsp;&nbsp;&nbsp;728536 |
| Itron, Inc. (A) | &nbsp;&nbsp;8638 | &nbsp;&nbsp;&nbsp;1137020 |
| Kimball Electronics, Inc. (A) | &nbsp;&nbsp;5035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96823 |
| Knowles Corp. (A) | 16574 | &nbsp;&nbsp;&nbsp;&nbsp;292034 |
| Methode Electronics, Inc. | &nbsp;&nbsp;6803 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64697 |
| MicroVision, Inc. (A)(B) | 49241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56135 |
| Mirion Technologies, Inc. (A) | 40131 | &nbsp;&nbsp;&nbsp;&nbsp;864020 |
| Napco Security Technologies, Inc. | &nbsp;&nbsp;6752 | &nbsp;&nbsp;&nbsp;&nbsp;200467 |
| Neonode, Inc. (A) | &nbsp;&nbsp;2072 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52836 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Electronic equipment, instruments and<br> components (continued)** | **Electronic equipment, instruments and<br> components (continued)** |  |
| nLight, Inc. (A) | &nbsp;&nbsp;9431 | $&nbsp;&nbsp;&nbsp;&nbsp;185602 |
| Novanta, Inc. (A) | &nbsp;&nbsp;6861 | &nbsp;&nbsp;&nbsp;&nbsp;884589 |
| OSI Systems, Inc. (A) | &nbsp;&nbsp;3067 | &nbsp;&nbsp;&nbsp;&nbsp;689646 |
| Ouster, Inc. (A) | &nbsp;&nbsp;9757 | &nbsp;&nbsp;&nbsp;&nbsp;236607 |
| PAR Technology Corp. (A)(B) | &nbsp;&nbsp;7655 | &nbsp;&nbsp;&nbsp;&nbsp;531027 |
| PC Connection, Inc. | &nbsp;&nbsp;2209 | &nbsp;&nbsp;&nbsp;&nbsp;145308 |
| Plexus Corp. (A) | &nbsp;&nbsp;5105 | &nbsp;&nbsp;&nbsp;&nbsp;690758 |
| Powerfleet, Inc. (A) | 24061 | &nbsp;&nbsp;&nbsp;&nbsp;103703 |
| Red Cat Holdings, Inc. (A) | 14390 | &nbsp;&nbsp;&nbsp;&nbsp;104759 |
| Rogers Corp. (A) | &nbsp;&nbsp;3513 | &nbsp;&nbsp;&nbsp;&nbsp;240570 |
| Sanmina Corp. (A) | &nbsp;&nbsp;9933 | &nbsp;&nbsp;&nbsp;&nbsp;971745 |
| ScanSource, Inc. (A) | &nbsp;&nbsp;4200 | &nbsp;&nbsp;&nbsp;&nbsp;175602 |
| TTM Technologies, Inc. (A) | 19230 | &nbsp;&nbsp;&nbsp;&nbsp;784969 |
| Vishay Intertechnology, Inc. | 23020 | &nbsp;&nbsp;&nbsp;&nbsp;365558 |
| Vishay Precision Group, Inc. (A)(B) | &nbsp;&nbsp;2545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71515 |
| Vuzix Corp. (A)(B) | 12910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37697 |
|  |  | 17160188 |
| **IT services – 0.5%** | **IT services – 0.5%** |  |
| Applied Digital Corp. (A)(B) | 33830 | &nbsp;&nbsp;&nbsp;&nbsp;340668 |
| ASGN, Inc. (A) | &nbsp;&nbsp;8164 | &nbsp;&nbsp;&nbsp;&nbsp;407629 |
| Backblaze, Inc., Class A (A) | 10892 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59906 |
| BigBear.ai Holdings, Inc. (A)(B) | 55382 | &nbsp;&nbsp;&nbsp;&nbsp;376044 |
| BigCommerce Holdings, Inc., Series 1 (A) | 13160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65800 |
| Couchbase, Inc. (A) | &nbsp;&nbsp;8282 | &nbsp;&nbsp;&nbsp;&nbsp;201915 |
| DigitalOcean Holdings, Inc. (A) | 12360 | &nbsp;&nbsp;&nbsp;&nbsp;353002 |
| Fastly, Inc., Class A (A) | 26495 | &nbsp;&nbsp;&nbsp;&nbsp;187055 |
| Grid Dynamics Holdings, Inc. (A) | 12979 | &nbsp;&nbsp;&nbsp;&nbsp;149907 |
| Information Services Group, Inc. | &nbsp;&nbsp;8457 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40594 |
| The Hackett Group, Inc. | &nbsp;&nbsp;5206 | &nbsp;&nbsp;&nbsp;&nbsp;132337 |
| TSS, Inc. (A)(B) | &nbsp;&nbsp;3518 | &nbsp;&nbsp;&nbsp;&nbsp;101424 |
| Unisys Corp. (A) | 13577 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61504 |
|  |  | &nbsp;&nbsp;&nbsp;2477785 |
| **Semiconductors and semiconductor equipment – 2.7%** | **Semiconductors and semiconductor equipment – 2.7%** |  |
| ACM Research, Inc., Class A (A) | &nbsp;&nbsp;9647 | &nbsp;&nbsp;&nbsp;&nbsp;249857 |
| Aehr Test Systems (A)(B) | &nbsp;&nbsp;5553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71800 |
| Aeluma, Inc. (A) | &nbsp;&nbsp;1923 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31480 |
| Alpha & Omega Semiconductor, Ltd. (A) | &nbsp;&nbsp;4822 | &nbsp;&nbsp;&nbsp;&nbsp;123733 |
| Ambarella, Inc. (A) | &nbsp;&nbsp;7774 | &nbsp;&nbsp;&nbsp;&nbsp;513589 |
| Atomera, Inc. (A) | &nbsp;&nbsp;5948 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29978 |
| Axcelis Technologies, Inc. (A) | &nbsp;&nbsp;6122 | &nbsp;&nbsp;&nbsp;&nbsp;426642 |
| CEVA, Inc. (A) | &nbsp;&nbsp;4574 | &nbsp;&nbsp;&nbsp;&nbsp;100537 |
| Cohu, Inc. (A) | &nbsp;&nbsp;8744 | &nbsp;&nbsp;&nbsp;&nbsp;168235 |
| Credo Technology Group Holding, Ltd. (A) | 27973 | &nbsp;&nbsp;&nbsp;2590020 |
| Diodes, Inc. (A) | &nbsp;&nbsp;8806 | &nbsp;&nbsp;&nbsp;&nbsp;465749 |
| FormFactor, Inc. (A) | 14829 | &nbsp;&nbsp;&nbsp;&nbsp;510266 |
| Ichor Holdings, Ltd. (A) | &nbsp;&nbsp;6678 | &nbsp;&nbsp;&nbsp;&nbsp;131156 |
| Impinj, Inc. (A) | &nbsp;&nbsp;4951 | &nbsp;&nbsp;&nbsp;&nbsp;549908 |
| Indie Semiconductor, Inc., Class A (A)(B) | 37673 | &nbsp;&nbsp;&nbsp;&nbsp;134116 |
| Kopin Corp. (A) | 29862 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45689 |
| Kulicke & Soffa Industries, Inc. | &nbsp;&nbsp;9780 | &nbsp;&nbsp;&nbsp;&nbsp;338388 |
| MaxLinear, Inc. (A) | 15852 | &nbsp;&nbsp;&nbsp;&nbsp;225257 |
| Navitas Semiconductor Corp. (A) | 25853 | &nbsp;&nbsp;&nbsp;&nbsp;169337 |
| NVE Corp. | &nbsp;&nbsp;&nbsp;&nbsp;983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72359 |
| PDF Solutions, Inc. (A) | &nbsp;&nbsp;6420 | &nbsp;&nbsp;&nbsp;&nbsp;137260 |
| Penguin Solutions, Inc. (A)(B) | 10315 | &nbsp;&nbsp;&nbsp;&nbsp;204340 |
| Photronics, Inc. (A) | 11557 | &nbsp;&nbsp;&nbsp;&nbsp;217618 |
| Power Integrations, Inc. | 10798 | &nbsp;&nbsp;&nbsp;&nbsp;603608 |
| Rambus, Inc. (A) | 20546 | &nbsp;&nbsp;&nbsp;1315355 |
| Rigetti Computing, Inc. (A) | 54037 | &nbsp;&nbsp;&nbsp;&nbsp;640879 |
| Semtech Corp. (A) | 16642 | &nbsp;&nbsp;&nbsp;&nbsp;751220 |
| Silicon Laboratories, Inc. (A) | &nbsp;&nbsp;6141 | &nbsp;&nbsp;&nbsp;&nbsp;904938 |
| SiTime Corp. (A) | &nbsp;&nbsp;3758 | &nbsp;&nbsp;&nbsp;&nbsp;800755 |
| SkyWater Technology, Inc. (A)(B) | &nbsp;&nbsp;5249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51650 |
| Synaptics, Inc. (A) | &nbsp;&nbsp;7416 | &nbsp;&nbsp;&nbsp;&nbsp;480705 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 97 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Small Cap Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Semiconductors and semiconductor equipment (continued)** | **Semiconductors and semiconductor equipment (continued)** |  |
| Ultra Clean Holdings, Inc. (A) | &nbsp;&nbsp;8579 | $&nbsp;&nbsp;&nbsp;&nbsp;193628 |
| Veeco Instruments, Inc. (A) | 10630 | &nbsp;&nbsp;&nbsp;&nbsp;216002 |
|  |  | 13466054 |
| **Software – 6.2%** | **Software – 6.2%** |  |
| 8x8, Inc. (A) | 26669 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52271 |
| A10 Networks, Inc. | 14127 | &nbsp;&nbsp;&nbsp;&nbsp;273357 |
| ACI Worldwide, Inc. (A) | 20106 | &nbsp;&nbsp;&nbsp;&nbsp;923066 |
| Adeia, Inc. | 21054 | &nbsp;&nbsp;&nbsp;&nbsp;297704 |
| Agilysys, Inc. (A) | &nbsp;&nbsp;4947 | &nbsp;&nbsp;&nbsp;&nbsp;567124 |
| Airship AI Holdings, Inc. (A)(B) | &nbsp;&nbsp;3965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23354 |
| Alarm.com Holdings, Inc. (A) | &nbsp;&nbsp;8998 | &nbsp;&nbsp;&nbsp;&nbsp;509017 |
| Alkami Technology, Inc. (A) | 13100 | &nbsp;&nbsp;&nbsp;&nbsp;394834 |
| Amplitude, Inc., Class A (A) | 17087 | &nbsp;&nbsp;&nbsp;&nbsp;211879 |
| Appian Corp., Class A (A) | &nbsp;&nbsp;7589 | &nbsp;&nbsp;&nbsp;&nbsp;226608 |
| Arteris, Inc. (A) | &nbsp;&nbsp;5879 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56027 |
| Asana, Inc., Class A (A) | 18004 | &nbsp;&nbsp;&nbsp;&nbsp;243054 |
| AvePoint, Inc. (A) | 25531 | &nbsp;&nbsp;&nbsp;&nbsp;493004 |
| Bit Digital, Inc. (A) | 35249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77195 |
| Bitdeer Technologies Group, Class A (A) | 17225 | &nbsp;&nbsp;&nbsp;&nbsp;197743 |
| Blackbaud, Inc. (A) | &nbsp;&nbsp;7354 | &nbsp;&nbsp;&nbsp;&nbsp;472200 |
| Blackline, Inc. (A)(B) | 10046 | &nbsp;&nbsp;&nbsp;&nbsp;568805 |
| Blend Labs, Inc., Class A (A) | 40844 | &nbsp;&nbsp;&nbsp;&nbsp;134785 |
| Box, Inc., Class A (A) | 26758 | &nbsp;&nbsp;&nbsp;&nbsp;914321 |
| Braze, Inc., Class A (A) | 14673 | &nbsp;&nbsp;&nbsp;&nbsp;412311 |
| c3.ai, Inc., Class A (A) | 23132 | &nbsp;&nbsp;&nbsp;&nbsp;568353 |
| Cerence, Inc. (A) | &nbsp;&nbsp;8532 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87112 |
| Cipher Mining, Inc. (A)(B) | 50853 | &nbsp;&nbsp;&nbsp;&nbsp;243077 |
| CleanSpark, Inc. (A)(B) | 52982 | &nbsp;&nbsp;&nbsp;&nbsp;584391 |
| Clear Secure, Inc., Class A | 15982 | &nbsp;&nbsp;&nbsp;&nbsp;443660 |
| Clearwater Analytics Holdings, Inc., Class A (A) | 47030 | &nbsp;&nbsp;&nbsp;1031368 |
| CommVault Systems, Inc. (A) | &nbsp;&nbsp;8432 | &nbsp;&nbsp;&nbsp;1469951 |
| Consensus Cloud Solutions, Inc. (A) | &nbsp;&nbsp;3793 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87467 |
| Core Scientific, Inc. (A) | 52765 | &nbsp;&nbsp;&nbsp;&nbsp;900699 |
| CoreCard Corp. (A) | &nbsp;&nbsp;1212 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35112 |
| Daily Journal Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;241 | &nbsp;&nbsp;&nbsp;&nbsp;101762 |
| Digimarc Corp. (A)(B) | &nbsp;&nbsp;3471 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45852 |
| Digital Turbine, Inc. (A) | 19643 | &nbsp;&nbsp;&nbsp;&nbsp;115894 |
| Domo, Inc., Class B (A) | &nbsp;&nbsp;6828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95387 |
| D-Wave Quantum, Inc. (A) | 55014 | &nbsp;&nbsp;&nbsp;&nbsp;805405 |
| E2open Parent Holdings, Inc. (A) | 36641 | &nbsp;&nbsp;&nbsp;&nbsp;118350 |
| EverCommerce, Inc. (A)(B) | &nbsp;&nbsp;3546 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37233 |
| Five9, Inc. (A) | 14573 | &nbsp;&nbsp;&nbsp;&nbsp;385893 |
| Freshworks, Inc., Class A (A) | 38967 | &nbsp;&nbsp;&nbsp;&nbsp;580998 |
| Hut 8 Corp. (A) | 18035 | &nbsp;&nbsp;&nbsp;&nbsp;335451 |
| i3 Verticals, Inc., Class A (A)(B) | &nbsp;&nbsp;4633 | &nbsp;&nbsp;&nbsp;&nbsp;127315 |
| Intapp, Inc. (A) | 10594 | &nbsp;&nbsp;&nbsp;&nbsp;546862 |
| InterDigital, Inc. | &nbsp;&nbsp;4934 | &nbsp;&nbsp;&nbsp;1106351 |
| Jamf Holding Corp. (A) | 13537 | &nbsp;&nbsp;&nbsp;&nbsp;128737 |
| Kaltura, Inc. (A) | 17230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34632 |
| Life360, Inc. (A)(B) | &nbsp;&nbsp;3104 | &nbsp;&nbsp;&nbsp;&nbsp;202536 |
| LiveRamp Holdings, Inc. (A) | 12386 | &nbsp;&nbsp;&nbsp;&nbsp;409233 |
| MARA Holdings, Inc. (A)(B) | 66228 | &nbsp;&nbsp;&nbsp;1038415 |
| MeridianLink, Inc. (A) | &nbsp;&nbsp;6491 | &nbsp;&nbsp;&nbsp;&nbsp;105349 |
| Mitek Systems, Inc. (A) | &nbsp;&nbsp;8594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85081 |
| N-able, Inc. (A) | 14496 | &nbsp;&nbsp;&nbsp;&nbsp;117418 |
| NCR Voyix Corp. (A)(B) | 26503 | &nbsp;&nbsp;&nbsp;&nbsp;310880 |
| NextNav, Inc. (A) | 16998 | &nbsp;&nbsp;&nbsp;&nbsp;258370 |
| Olo, Inc., Class A (A) | 22368 | &nbsp;&nbsp;&nbsp;&nbsp;199075 |
| ON24, Inc. (A) | &nbsp;&nbsp;6032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32754 |
| OneSpan, Inc. | &nbsp;&nbsp;6905 | &nbsp;&nbsp;&nbsp;&nbsp;115244 |
| Ooma, Inc. (A) | &nbsp;&nbsp;5510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71079 |
| Pagaya Technologies, Ltd., Class A (A)(B) | &nbsp;&nbsp;8092 | &nbsp;&nbsp;&nbsp;&nbsp;172521 |
| PagerDuty, Inc. (A) | 16238 | &nbsp;&nbsp;&nbsp;&nbsp;248117 |
| Porch Group, Inc. (A) | 15500 | &nbsp;&nbsp;&nbsp;&nbsp;182745 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Software (continued)** | **Software (continued)** |  |
| Progress Software Corp. | &nbsp;&nbsp;8132 | $&nbsp;&nbsp;&nbsp;&nbsp;519147 |
| PROS Holdings, Inc. (A) | &nbsp;&nbsp;8537 | &nbsp;&nbsp;&nbsp;&nbsp;133689 |
| Q2 Holdings, Inc. (A) | 11838 | &nbsp;&nbsp;&nbsp;1107918 |
| Qualys, Inc. (A) | &nbsp;&nbsp;6946 | &nbsp;&nbsp;&nbsp;&nbsp;992375 |
| Rapid7, Inc. (A) | 12254 | &nbsp;&nbsp;&nbsp;&nbsp;283435 |
| Red Violet, Inc. | &nbsp;&nbsp;2260 | &nbsp;&nbsp;&nbsp;&nbsp;111192 |
| ReposiTrak, Inc. (B) | &nbsp;&nbsp;2267 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44547 |
| Rezolve AI PLC (A)(B) | 17569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54025 |
| Rimini Street, Inc. (A) | &nbsp;&nbsp;9837 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37085 |
| Riot Platforms, Inc. (A) | 63115 | &nbsp;&nbsp;&nbsp;&nbsp;713200 |
| Sapiens International Corp. NV | &nbsp;&nbsp;6240 | &nbsp;&nbsp;&nbsp;&nbsp;182520 |
| SEMrush Holdings, Inc., Class A (A) | &nbsp;&nbsp;9082 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82192 |
| SoundHound AI, Inc., Class A (A)(B) | 69941 | &nbsp;&nbsp;&nbsp;&nbsp;750467 |
| SoundThinking, Inc. (A) | &nbsp;&nbsp;2170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28329 |
| Sprinklr, Inc., Class A (A) | 21398 | &nbsp;&nbsp;&nbsp;&nbsp;181027 |
| Sprout Social, Inc., Class A (A) | &nbsp;&nbsp;9999 | &nbsp;&nbsp;&nbsp;&nbsp;209079 |
| SPS Commerce, Inc. (A) | &nbsp;&nbsp;7260 | &nbsp;&nbsp;&nbsp;&nbsp;988013 |
| Telos Corp. (A) | 11827 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37492 |
| Tenable Holdings, Inc. (A) | 22854 | &nbsp;&nbsp;&nbsp;&nbsp;772008 |
| TeraWulf, Inc. (A)(B) | 51038 | &nbsp;&nbsp;&nbsp;&nbsp;223546 |
| Varonis Systems, Inc. (A) | 21004 | &nbsp;&nbsp;&nbsp;1065953 |
| Verint Systems, Inc. (A) | 11868 | &nbsp;&nbsp;&nbsp;&nbsp;233444 |
| Vertex, Inc., Class A (A) | 12454 | &nbsp;&nbsp;&nbsp;&nbsp;440062 |
| Viant Technology, Inc., Class A (A)(B) | &nbsp;&nbsp;3240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42865 |
| Weave Communications, Inc. (A) | 11391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94773 |
| Workiva, Inc. (A) | &nbsp;&nbsp;9599 | &nbsp;&nbsp;&nbsp;&nbsp;657052 |
| Xperi, Inc. (A) | &nbsp;&nbsp;8953 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70818 |
| Yext, Inc. (A) | 20285 | &nbsp;&nbsp;&nbsp;&nbsp;172423 |
| Zeta Global Holdings Corp., Class A (A) | 36037 | &nbsp;&nbsp;&nbsp;&nbsp;558213 |
|  |  | 31401677 |
| **Technology hardware, storage and peripherals – 0.6%** | **Technology hardware, storage and peripherals – 0.6%** |  |
| CompoSecure, Inc., Class A (A) | &nbsp;&nbsp;8506 | &nbsp;&nbsp;&nbsp;&nbsp;119850 |
| Corsair Gaming, Inc. (A) | &nbsp;&nbsp;9163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86407 |
| Diebold Nixdorf, Inc. (A) | &nbsp;&nbsp;4891 | &nbsp;&nbsp;&nbsp;&nbsp;270961 |
| Eastman Kodak Company (A)(B) | 12657 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71512 |
| Immersion Corp. | &nbsp;&nbsp;5663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44624 |
| IonQ, Inc. (A) | 45290 | &nbsp;&nbsp;&nbsp;1946111 |
| Quantum Computing, Inc. (A)(B) | 22033 | &nbsp;&nbsp;&nbsp;&nbsp;422373 |
| Turtle Beach Corp. (A) | &nbsp;&nbsp;2881 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39844 |
| Xerox Holdings Corp. (B) | 22659 | &nbsp;&nbsp;&nbsp;&nbsp;119413 |
|  |  | &nbsp;&nbsp;&nbsp;3121095 |
|  |  | 71352144 |
| **Materials – 3.6%** |  |  |
| **Chemicals – 1.6%** | **Chemicals – 1.6%** |  |
| AdvanSix, Inc. | &nbsp;&nbsp;5234 | &nbsp;&nbsp;&nbsp;&nbsp;124308 |
| Arq, Inc. (A) | &nbsp;&nbsp;6670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35818 |
| ASP Isotopes, Inc. (A) | 11003 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80982 |
| Aspen Aerogels, Inc. (A) | 13050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77256 |
| Avient Corp. | 17600 | &nbsp;&nbsp;&nbsp;&nbsp;568656 |
| Balchem Corp. | &nbsp;&nbsp;6264 | &nbsp;&nbsp;&nbsp;&nbsp;997229 |
| Cabot Corp. | 10313 | &nbsp;&nbsp;&nbsp;&nbsp;773475 |
| Ecovyst, Inc. (A) | 21113 | &nbsp;&nbsp;&nbsp;&nbsp;173760 |
| Flotek Industries, Inc. (A) | &nbsp;&nbsp;2880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42509 |
| Ginkgo Bioworks Holdings, Inc. (A) | &nbsp;&nbsp;7577 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85241 |
| Hawkins, Inc. | &nbsp;&nbsp;3735 | &nbsp;&nbsp;&nbsp;&nbsp;530744 |
| HB Fuller Company | 10377 | &nbsp;&nbsp;&nbsp;&nbsp;624177 |
| Ingevity Corp. (A) | &nbsp;&nbsp;7024 | &nbsp;&nbsp;&nbsp;&nbsp;302664 |
| Innospec, Inc. | &nbsp;&nbsp;4794 | &nbsp;&nbsp;&nbsp;&nbsp;403127 |
| Intrepid Potash, Inc. (A) | &nbsp;&nbsp;2268 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81036 |
| Koppers Holdings, Inc. | &nbsp;&nbsp;3792 | &nbsp;&nbsp;&nbsp;&nbsp;121913 |
| Kronos Worldwide, Inc. | &nbsp;&nbsp;5235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32457 |
| LSB Industries, Inc. (A) | 10868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84770 |
| Mativ Holdings, Inc. | 10937 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74590 |
| Minerals Technologies, Inc. | &nbsp;&nbsp;6118 | &nbsp;&nbsp;&nbsp;&nbsp;336918 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 98 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Small Cap Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Chemicals (continued)** | **Chemicals (continued)** |  |
| Orion SA | &nbsp;&nbsp;10931 | $&nbsp;&nbsp;&nbsp;&nbsp;114666 |
| Perimeter Solutions, Inc. (A) | &nbsp;&nbsp;26728 | &nbsp;&nbsp;&nbsp;&nbsp;372054 |
| PureCycle Technologies, Inc. (A)(B) | &nbsp;&nbsp;24913 | &nbsp;&nbsp;&nbsp;&nbsp;341308 |
| Quaker Chemical Corp. | &nbsp;&nbsp;&nbsp;2666 | &nbsp;&nbsp;&nbsp;&nbsp;298432 |
| Rayonier Advanced Materials, Inc. (A) | &nbsp;&nbsp;12684 | &nbsp;&nbsp;&nbsp;&nbsp;48833 |
| Sensient Technologies Corp. | &nbsp;&nbsp;&nbsp;8075 | &nbsp;&nbsp;&nbsp;&nbsp;795549 |
| Stepan Company | &nbsp;&nbsp;&nbsp;4157 | &nbsp;&nbsp;&nbsp;&nbsp;226889 |
| The Chemours Company | &nbsp;&nbsp;29060 | &nbsp;&nbsp;&nbsp;&nbsp;332737 |
| Tronox Holdings PLC | &nbsp;&nbsp;23332 | &nbsp;&nbsp;&nbsp;&nbsp;118293 |
|  |  | 8200391 |
| **Construction materials – 0.2%** | **Construction materials – 0.2%** |  |
| Knife River Corp. (A) | &nbsp;&nbsp;10905 | &nbsp;&nbsp;&nbsp;&nbsp;890284 |
| Titan America SA (A) | &nbsp;&nbsp;&nbsp;5388 | &nbsp;&nbsp;&nbsp;&nbsp;67242 |
| United States Lime & Minerals, Inc. | &nbsp;&nbsp;&nbsp;2130 | &nbsp;&nbsp;&nbsp;&nbsp;212574 |
|  |  | 1170100 |
| **Containers and packaging – 0.2%** | **Containers and packaging – 0.2%** |  |
| Ardagh Metal Packaging SA | &nbsp;&nbsp;27361 | &nbsp;&nbsp;&nbsp;&nbsp;117105 |
| Greif, Inc., Class A | &nbsp;&nbsp;&nbsp;4660 | &nbsp;&nbsp;&nbsp;&nbsp;302853 |
| Greif, Inc., Class B | &nbsp;&nbsp;&nbsp;1008 | &nbsp;&nbsp;&nbsp;&nbsp;69562 |
| Myers Industries, Inc. | &nbsp;&nbsp;&nbsp;7209 | &nbsp;&nbsp;&nbsp;&nbsp;104458 |
| O-I Glass, Inc. (A) | &nbsp;&nbsp;29241 | &nbsp;&nbsp;&nbsp;&nbsp;431012 |
| Ranpak Holdings Corp. (A) | &nbsp;&nbsp;10046 | &nbsp;&nbsp;&nbsp;&nbsp;35864 |
| TriMas Corp. | &nbsp;&nbsp;&nbsp;6393 | &nbsp;&nbsp;&nbsp;&nbsp;182904 |
|  |  | 1243758 |
| **Metals and mining – 1.5%** | **Metals and mining – 1.5%** |  |
| 1911 Gold Corp. (A) | &nbsp;&nbsp;&nbsp;5045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;868 |
| Alpha Metallurgical Resources, Inc. (A) | &nbsp;&nbsp;&nbsp;2248 | &nbsp;&nbsp;&nbsp;&nbsp;252855 |
| Ascent Industries Company (A) | &nbsp;&nbsp;&nbsp;2291 | &nbsp;&nbsp;&nbsp;&nbsp;28890 |
| Caledonia Mining Corp. PLC | &nbsp;&nbsp;&nbsp;3597 | &nbsp;&nbsp;&nbsp;&nbsp;69494 |
| Century Aluminum Company (A) | &nbsp;&nbsp;10060 | &nbsp;&nbsp;&nbsp;&nbsp;181281 |
| Coeur Mining, Inc. (A) | 122368 | 1084180 |
| Commercial Metals Company | &nbsp;&nbsp;21459 | 1049560 |
| Compass Minerals International, Inc. (A) | &nbsp;&nbsp;&nbsp;6708 | &nbsp;&nbsp;&nbsp;&nbsp;134764 |
| Constellium SE (A) | &nbsp;&nbsp;27292 | &nbsp;&nbsp;&nbsp;&nbsp;362984 |
| Contango ORE, Inc. (A) | &nbsp;&nbsp;&nbsp;1826 | &nbsp;&nbsp;&nbsp;&nbsp;35570 |
| Dakota Gold Corp. (A) | &nbsp;&nbsp;18102 | &nbsp;&nbsp;&nbsp;&nbsp;66796 |
| Ferroglobe PLC | &nbsp;&nbsp;23759 | &nbsp;&nbsp;&nbsp;&nbsp;87196 |
| Hecla Mining Company | 115223 | &nbsp;&nbsp;&nbsp;&nbsp;690186 |
| Idaho Strategic Resources, Inc. (A) | &nbsp;&nbsp;&nbsp;2715 | &nbsp;&nbsp;&nbsp;&nbsp;35512 |
| Ivanhoe Electric, Inc. (A)(B) | &nbsp;&nbsp;17082 | &nbsp;&nbsp;&nbsp;&nbsp;154934 |
| Kaiser Aluminum Corp. | &nbsp;&nbsp;&nbsp;3064 | &nbsp;&nbsp;&nbsp;&nbsp;244814 |
| MAC Copper, Ltd. (A) | &nbsp;&nbsp;13992 | &nbsp;&nbsp;&nbsp;&nbsp;169163 |
| Materion Corp. | &nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;317480 |
| Metallus, Inc. (A) | &nbsp;&nbsp;&nbsp;7227 | &nbsp;&nbsp;&nbsp;&nbsp;111368 |
| NioCorp Developments, Ltd. (A) | &nbsp;&nbsp;11249 | &nbsp;&nbsp;&nbsp;&nbsp;26210 |
| Novagold Resources, Inc. (A) | &nbsp;&nbsp;48666 | &nbsp;&nbsp;&nbsp;&nbsp;199044 |
| Olympic Steel, Inc. | &nbsp;&nbsp;&nbsp;1940 | &nbsp;&nbsp;&nbsp;&nbsp;63225 |
| Pan American Silver Corp., CVR (A) | &nbsp;&nbsp;88114 | &nbsp;&nbsp;&nbsp;&nbsp;21588 |
| Perpetua Resources Corp. (A) | &nbsp;&nbsp;&nbsp;9034 | &nbsp;&nbsp;&nbsp;&nbsp;109673 |
| Radius Recycling, Inc. | &nbsp;&nbsp;&nbsp;5368 | &nbsp;&nbsp;&nbsp;&nbsp;159376 |
| Ramaco Resources, Inc., Class A | &nbsp;&nbsp;&nbsp;7122 | &nbsp;&nbsp;&nbsp;&nbsp;93583 |
| Ryerson Holding Corp. | &nbsp;&nbsp;&nbsp;5309 | &nbsp;&nbsp;&nbsp;&nbsp;114515 |
| SSR Mining, Inc. (A) | &nbsp;&nbsp;39171 | &nbsp;&nbsp;&nbsp;&nbsp;499039 |
| SunCoke Energy, Inc. | &nbsp;&nbsp;16307 | &nbsp;&nbsp;&nbsp;&nbsp;140077 |
| Tredegar Corp. (A) | &nbsp;&nbsp;&nbsp;5494 | &nbsp;&nbsp;&nbsp;&nbsp;48347 |
| United States Antimony Corp. (A) | &nbsp;&nbsp;18173 | &nbsp;&nbsp;&nbsp;&nbsp;39617 |
| US Gold Corp. (A) | &nbsp;&nbsp;&nbsp;2610 | &nbsp;&nbsp;&nbsp;&nbsp;31842 |
| Vox Royalty Corp. | &nbsp;&nbsp;11014 | &nbsp;&nbsp;&nbsp;&nbsp;34804 |
| Warrior Met Coal, Inc. | &nbsp;&nbsp;&nbsp;9986 | &nbsp;&nbsp;&nbsp;&nbsp;457658 |
| Worthington Steel, Inc. | &nbsp;&nbsp;&nbsp;6441 | &nbsp;&nbsp;&nbsp;&nbsp;192135 |
|  |  | 7308628 |
| **Paper and forest products – 0.1%** | **Paper and forest products – 0.1%** |  |
| Clearwater Paper Corp. (A) | &nbsp;&nbsp;&nbsp;3087 | &nbsp;&nbsp;&nbsp;&nbsp;84090 |
| Magnera Corp. (A) | &nbsp;&nbsp;&nbsp;6509 | &nbsp;&nbsp;&nbsp;&nbsp;78629 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Paper and forest products (continued)** | **Paper and forest products (continued)** |  |
| Resolute Forest Products, Inc. (A)(C) | &nbsp;&nbsp;9238 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13118 |
| Sylvamo Corp. | &nbsp;&nbsp;6533 | &nbsp;&nbsp;&nbsp;&nbsp;327303 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;503140 |
|  |  | 18426017 |
| **Real estate – 5.9%** |  |  |
| **Diversified REITs – 0.6%** | **Diversified REITs – 0.6%** |  |
| Alexander & Baldwin, Inc. | 14776 | &nbsp;&nbsp;&nbsp;&nbsp;263456 |
| Alpine Income Property Trust, Inc. | &nbsp;&nbsp;3169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46616 |
| American Assets Trust, Inc. | 10097 | &nbsp;&nbsp;&nbsp;&nbsp;199416 |
| Armada Hoffler Properties, Inc. | 14617 | &nbsp;&nbsp;&nbsp;&nbsp;100419 |
| Broadstone Net Lease, Inc. | 35782 | &nbsp;&nbsp;&nbsp;&nbsp;574301 |
| CTO Realty Growth, Inc. | &nbsp;&nbsp;5941 | &nbsp;&nbsp;&nbsp;&nbsp;102542 |
| Essential Properties Realty Trust, Inc. | 37463 | &nbsp;&nbsp;&nbsp;1195444 |
| Gladstone Commercial Corp. | &nbsp;&nbsp;8691 | &nbsp;&nbsp;&nbsp;&nbsp;124542 |
| Global Net Lease, Inc. | 37640 | &nbsp;&nbsp;&nbsp;&nbsp;284182 |
| Modiv Industrial, Inc. | &nbsp;&nbsp;2136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30075 |
| NexPoint Diversified Real Estate Trust | &nbsp;&nbsp;7624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31945 |
| One Liberty Properties, Inc. | &nbsp;&nbsp;4321 | &nbsp;&nbsp;&nbsp;&nbsp;103099 |
|  |  | &nbsp;&nbsp;&nbsp;3056037 |
| **Health care REITs – 0.9%** | **Health care REITs – 0.9%** |  |
| American Healthcare REIT, Inc. | 30311 | &nbsp;&nbsp;&nbsp;1113626 |
| CareTrust REIT, Inc. | 35873 | &nbsp;&nbsp;&nbsp;1097714 |
| Community Healthcare Trust, Inc. | &nbsp;&nbsp;5223 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86858 |
| Diversified Healthcare Trust | 43472 | &nbsp;&nbsp;&nbsp;&nbsp;155630 |
| Global Medical REIT, Inc. | 13520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93694 |
| LTC Properties, Inc. | &nbsp;&nbsp;8436 | &nbsp;&nbsp;&nbsp;&nbsp;291970 |
| National Health Investors, Inc. | &nbsp;&nbsp;8788 | &nbsp;&nbsp;&nbsp;&nbsp;616215 |
| Sabra Health Care REIT, Inc. | 44937 | &nbsp;&nbsp;&nbsp;&nbsp;828638 |
| Sila Realty Trust, Inc. | 10595 | &nbsp;&nbsp;&nbsp;&nbsp;250784 |
| Universal Health Realty Income Trust | &nbsp;&nbsp;2613 | &nbsp;&nbsp;&nbsp;&nbsp;104442 |
|  |  | &nbsp;&nbsp;&nbsp;4639571 |
| **Hotel and resort REITs – 0.6%** | **Hotel and resort REITs – 0.6%** |  |
| Apple Hospitality REIT, Inc. | 40986 | &nbsp;&nbsp;&nbsp;&nbsp;478307 |
| Braemar Hotels & Resorts, Inc. | 12238 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29983 |
| Chatham Lodging Trust | &nbsp;&nbsp;8473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59057 |
| DiamondRock Hospitality Company | 38371 | &nbsp;&nbsp;&nbsp;&nbsp;293922 |
| Pebblebrook Hotel Trust | 21912 | &nbsp;&nbsp;&nbsp;&nbsp;218901 |
| RLJ Lodging Trust | 26904 | &nbsp;&nbsp;&nbsp;&nbsp;195861 |
| Ryman Hospitality Properties, Inc. | 11093 | &nbsp;&nbsp;&nbsp;1094546 |
| Service Properties Trust | 30647 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73246 |
| Summit Hotel Properties, Inc. | 20457 | &nbsp;&nbsp;&nbsp;&nbsp;104126 |
| Sunstone Hotel Investors, Inc. | 37027 | &nbsp;&nbsp;&nbsp;&nbsp;321394 |
| Xenia Hotels & Resorts, Inc. | 19363 | &nbsp;&nbsp;&nbsp;&nbsp;243393 |
|  |  | &nbsp;&nbsp;&nbsp;3112736 |
| **Industrial REITs – 0.4%** | **Industrial REITs – 0.4%** |  |
| Industrial Logistics Properties Trust | 10904 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49613 |
| Innovative Industrial Properties, Inc. | &nbsp;&nbsp;5288 | &nbsp;&nbsp;&nbsp;&nbsp;292003 |
| LXP Industrial Trust | 56639 | &nbsp;&nbsp;&nbsp;&nbsp;467838 |
| Plymouth Industrial REIT, Inc. | &nbsp;&nbsp;8072 | &nbsp;&nbsp;&nbsp;&nbsp;129636 |
| Terreno Realty Corp. | 19332 | &nbsp;&nbsp;&nbsp;1083945 |
|  |  | &nbsp;&nbsp;&nbsp;2023035 |
| **Office REITs – 0.7%** | **Office REITs – 0.7%** |  |
| Brandywine Realty Trust | 33653 | &nbsp;&nbsp;&nbsp;&nbsp;144371 |
| City Office REIT, Inc. | &nbsp;&nbsp;9220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49235 |
| COPT Defense Properties | 21495 | &nbsp;&nbsp;&nbsp;&nbsp;592832 |
| Douglas Emmett, Inc. | 30375 | &nbsp;&nbsp;&nbsp;&nbsp;456840 |
| Easterly Government Properties, Inc. | &nbsp;&nbsp;7216 | &nbsp;&nbsp;&nbsp;&nbsp;160195 |
| Empire State Realty Trust, Inc., Class A | 26809 | &nbsp;&nbsp;&nbsp;&nbsp;216885 |
| Franklin Street Properties Corp. | 18269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29961 |
| Hudson Pacific Properties, Inc. (A) | 61611 | &nbsp;&nbsp;&nbsp;&nbsp;168814 |
| JBG SMITH Properties | 14093 | &nbsp;&nbsp;&nbsp;&nbsp;243809 |
| NET Lease Office Properties (A) | &nbsp;&nbsp;2844 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92572 |
| Paramount Group, Inc. (A) | 36311 | &nbsp;&nbsp;&nbsp;&nbsp;221497 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 99 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Small Cap Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Office REITs (continued)** | **Office REITs (continued)** |  |
| Peakstone Realty Trust | &nbsp;&nbsp;7239 | $&nbsp;&nbsp;&nbsp;&nbsp;95627 |
| Piedmont Realty Trust, Inc. | 23511 | &nbsp;&nbsp;&nbsp;&nbsp;171395 |
| Postal Realty Trust, Inc., Class A | &nbsp;&nbsp;4486 | &nbsp;&nbsp;&nbsp;&nbsp;66079 |
| SL Green Realty Corp. | 13633 | &nbsp;&nbsp;&nbsp;&nbsp;843883 |
|  |  | 3553995 |
| **Real estate management and development – 0.6%** | **Real estate management and development – 0.6%** |  |
| Anywhere Real Estate, Inc. (A) | 20573 | &nbsp;&nbsp;&nbsp;&nbsp;74474 |
| Compass, Inc., Class A (A) | 87256 | &nbsp;&nbsp;&nbsp;&nbsp;547968 |
| Cushman & Wakefield PLC (A) | 44013 | &nbsp;&nbsp;&nbsp;&nbsp;487224 |
| Douglas Elliman, Inc. (A) | 14806 | &nbsp;&nbsp;&nbsp;&nbsp;34350 |
| eXp World Holdings, Inc. (B) | 15174 | &nbsp;&nbsp;&nbsp;&nbsp;138083 |
| Forestar Group, Inc. (A) | &nbsp;&nbsp;3917 | &nbsp;&nbsp;&nbsp;&nbsp;78340 |
| FRP Holdings, Inc. (A) | &nbsp;&nbsp;2569 | &nbsp;&nbsp;&nbsp;&nbsp;69080 |
| Kennedy-Wilson Holdings, Inc. | 24275 | &nbsp;&nbsp;&nbsp;&nbsp;165070 |
| Marcus & Millichap, Inc. | &nbsp;&nbsp;5002 | &nbsp;&nbsp;&nbsp;&nbsp;153611 |
| Maui Land & Pineapple Company, Inc. (A) | &nbsp;&nbsp;1578 | &nbsp;&nbsp;&nbsp;&nbsp;28704 |
| Newmark Group, Inc., Class A | 25163 | &nbsp;&nbsp;&nbsp;&nbsp;305730 |
| RE/MAX Holdings, Inc., Class A (A) | &nbsp;&nbsp;4007 | &nbsp;&nbsp;&nbsp;&nbsp;32777 |
| Redfin Corp. (A) | 23813 | &nbsp;&nbsp;&nbsp;&nbsp;266467 |
| Seaport Entertainment Group, Inc. (A) | &nbsp;&nbsp;1668 | &nbsp;&nbsp;&nbsp;&nbsp;31258 |
| Tejon Ranch Company (A)(B) | &nbsp;&nbsp;4721 | &nbsp;&nbsp;&nbsp;&nbsp;80068 |
| The Real Brokerage, Inc. (A) | 20796 | &nbsp;&nbsp;&nbsp;&nbsp;93790 |
| The RMR Group, Inc., Class A | &nbsp;&nbsp;3231 | &nbsp;&nbsp;&nbsp;&nbsp;52827 |
| The St. Joe Company | &nbsp;&nbsp;7272 | &nbsp;&nbsp;&nbsp;&nbsp;346874 |
|  |  | 2986695 |
| **Residential REITs – 0.4%** | **Residential REITs – 0.4%** |  |
| Apartment Investment and Management Company, Class A | 26483 | &nbsp;&nbsp;&nbsp;&nbsp;229078 |
| BRT Apartments Corp. | &nbsp;&nbsp;2552 | &nbsp;&nbsp;&nbsp;&nbsp;39913 |
| Centerspace | &nbsp;&nbsp;3222 | &nbsp;&nbsp;&nbsp;&nbsp;193932 |
| Elme Communities | 16795 | &nbsp;&nbsp;&nbsp;&nbsp;267041 |
| Independence Realty Trust, Inc. | 44010 | &nbsp;&nbsp;&nbsp;&nbsp;778537 |
| NexPoint Residential Trust, Inc. | &nbsp;&nbsp;4525 | &nbsp;&nbsp;&nbsp;&nbsp;150773 |
| UMH Properties, Inc. | 15366 | &nbsp;&nbsp;&nbsp;&nbsp;257995 |
| Veris Residential, Inc. | 15147 | &nbsp;&nbsp;&nbsp;&nbsp;225539 |
|  |  | 2142808 |
| **Retail REITs – 1.2%** | **Retail REITs – 1.2%** |  |
| Acadia Realty Trust | 25352 | &nbsp;&nbsp;&nbsp;&nbsp;470787 |
| Alexander's, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;461 | &nbsp;&nbsp;&nbsp;&nbsp;103873 |
| CBL & Associates Properties, Inc. | &nbsp;&nbsp;3442 | &nbsp;&nbsp;&nbsp;&nbsp;87392 |
| Curbline Properties Corp. | 18840 | &nbsp;&nbsp;&nbsp;&nbsp;430117 |
| FrontView REIT, Inc. | &nbsp;&nbsp;3617 | &nbsp;&nbsp;&nbsp;&nbsp;43404 |
| Getty Realty Corp. | 10051 | &nbsp;&nbsp;&nbsp;&nbsp;277810 |
| InvenTrust Properties Corp. | 14982 | &nbsp;&nbsp;&nbsp;&nbsp;410507 |
| Kite Realty Group Trust | 41574 | &nbsp;&nbsp;&nbsp;&nbsp;941651 |
| NETSTREIT Corp. | 15617 | &nbsp;&nbsp;&nbsp;&nbsp;264396 |
| Phillips Edison & Company, Inc. | 23956 | &nbsp;&nbsp;&nbsp;&nbsp;839179 |
| Saul Centers, Inc. | &nbsp;&nbsp;2713 | &nbsp;&nbsp;&nbsp;&nbsp;92622 |
| SITE Centers Corp. | &nbsp;&nbsp;9814 | &nbsp;&nbsp;&nbsp;&nbsp;110996 |
| Tanger, Inc. | 21076 | &nbsp;&nbsp;&nbsp;&nbsp;644504 |
| The Macerich Company | 48304 | &nbsp;&nbsp;&nbsp;&nbsp;781559 |
| Urban Edge Properties | 24541 | &nbsp;&nbsp;&nbsp;&nbsp;457935 |
| Whitestone REIT | &nbsp;&nbsp;8548 | &nbsp;&nbsp;&nbsp;&nbsp;106679 |
|  |  | 6063411 |
| **Specialized REITs – 0.5%** | **Specialized REITs – 0.5%** |  |
| Farmland Partners, Inc. | &nbsp;&nbsp;8010 | &nbsp;&nbsp;&nbsp;&nbsp;92195 |
| Four Corners Property Trust, Inc. | 19267 | &nbsp;&nbsp;&nbsp;&nbsp;518475 |
| Gladstone Land Corp. | &nbsp;&nbsp;7272 | &nbsp;&nbsp;&nbsp;&nbsp;73956 |
| Outfront Media, Inc. | 26095 | &nbsp;&nbsp;&nbsp;&nbsp;425870 |
| PotlatchDeltic Corp. | 14818 | &nbsp;&nbsp;&nbsp;&nbsp;568567 |
| Safehold, Inc. | 10760 | &nbsp;&nbsp;&nbsp;&nbsp;167426 |
| Smartstop Self Storage REIT, Inc. | &nbsp;&nbsp;5173 | &nbsp;&nbsp;&nbsp;&nbsp;187418 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Specialized REITs (continued)** | **Specialized REITs (continued)** |  |
| Uniti Group, Inc. (A) | 45742 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197605 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2231512 |
|  |  | &nbsp;&nbsp;&nbsp;29809800 |
| **Utilities – 3.1%** |  |  |
| **Electric utilities – 1.1%** | **Electric utilities – 1.1%** |  |
| ALLETE, Inc. | 10886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;697466 |
| Genie Energy, Ltd., B Shares | &nbsp;&nbsp;4234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113810 |
| Hawaiian Electric Industries, Inc. (A) | 33392 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;354957 |
| MGE Energy, Inc. | &nbsp;&nbsp;7125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630135 |
| Oklo, Inc. (A) | 19605 | &nbsp;&nbsp;&nbsp;&nbsp;1097684 |
| Otter Tail Corp. | &nbsp;&nbsp;7374 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;568462 |
| Portland General Electric Company | 20650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;839010 |
| TXNM Energy, Inc. | 17561 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;989036 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;5290560 |
| **Gas utilities – 1.0%** | **Gas utilities – 1.0%** |  |
| Brookfield Infrastructure Corp., Class A | 23069 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;959670 |
| Chesapeake Utilities Corp. | &nbsp;&nbsp;4421 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;531493 |
| New Jersey Resources Corp. | 19026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;852745 |
| Northwest Natural Holding Company | &nbsp;&nbsp;7725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;306837 |
| ONE Gas, Inc. | 11295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;811659 |
| RGC Resources, Inc. | &nbsp;&nbsp;1772 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39657 |
| Southwest Gas Holdings, Inc. | 12297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;914774 |
| Spire, Inc. | 10849 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;791869 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;5208704 |
| **Independent power and renewable electricity producers –<br> 0.2%** | **Independent power and renewable electricity producers –<br> 0.2%** |  |
| Montauk Renewables, Inc. (A)(B) | 12923 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28689 |
| Ormat Technologies, Inc. | 11591 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;970862 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;999551 |
| **Multi-utilities – 0.4%** | **Multi-utilities – 0.4%** |  |
| Avista Corp. | 15040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570768 |
| Black Hills Corp. | 13452 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;754657 |
| Northwestern Energy Group, Inc. | 11609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;595542 |
| Unitil Corp. | &nbsp;&nbsp;3317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172982 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2093949 |
| **Water utilities – 0.4%** | **Water utilities – 0.4%** |  |
| American States Water Company | &nbsp;&nbsp;7344 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;562991 |
| Cadiz, Inc. (A)(B) | 12356 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36944 |
| California Water Service Group | 11517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;523793 |
| Consolidated Water Company, Ltd. | &nbsp;&nbsp;3057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91771 |
| Global Water Resources, Inc. | &nbsp;&nbsp;3608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36766 |
| H2O America | &nbsp;&nbsp;6030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;313379 |
| Middlesex Water Company | &nbsp;&nbsp;3558 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192772 |
| Pure Cycle Corp. (A) | &nbsp;&nbsp;4446 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47661 |
| The York Water Company | &nbsp;&nbsp;3159 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99824 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1905901 |
|  |  | &nbsp;&nbsp;&nbsp;15498665 |
| TOTAL COMMON STOCKS (Cost $403,746,454) | TOTAL COMMON STOCKS (Cost $403,746,454) | $486087003 |
| **RIGHTS – 0.0%** |  |  |
| Gen Digital, Inc. (Expiration Date: 4-17-27) (A)(D) | &nbsp;&nbsp;1637 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13358 |
| TOTAL RIGHTS (Cost $6,384) | TOTAL RIGHTS (Cost $6,384) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13358 |
| **WARRANTS – 0.0%** |  |  |
| Danimer Scientific, Inc. (Expiration Date: 7-15-25; Strike Price: $5.00) (A) | &nbsp;&nbsp;2955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 |
| Nabors Industries, Ltd. (Expiration Date: 6-11-26; Strike Price: $166.67) (A) | &nbsp;&nbsp;&nbsp;&nbsp;668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;441 |
| TOTAL WARRANTS (Cost $0) | TOTAL WARRANTS (Cost $0) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;443 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 100 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Small Cap Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **SHORT-TERM INVESTMENTS – 4.9%** | **SHORT-TERM INVESTMENTS – 4.9%** |  |
| **Short-term funds – 4.9%** |  |  |
| John Hancock Collateral Trust, 4.2596% (E)(F) | 2456554 | $&nbsp;&nbsp;&nbsp;24571428 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $24,571,728) | TOTAL SHORT-TERM INVESTMENTS (Cost $24,571,728) | $&nbsp;&nbsp;&nbsp;24571428 |
| **Total Investments (Small Cap Index Trust)<br> (Cost $428,324,566) – 101.1%** | **Total Investments (Small Cap Index Trust)<br> (Cost $428,324,566) – 101.1%** | $**510672232** |
| **Other assets and liabilities, net – (1.1%)** | **Other assets and liabilities, net – (1.1%)** | &nbsp;&nbsp;&nbsp;**(5651714)** |
| **TOTAL NET ASSETS – 100.0%** | **TOTAL NET ASSETS – 100.0%** | $**505020518** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| CVR | Contingent Value Right |
| (A) | Non-income producing security. |
| (B) | All or a portion of this security is on loan as of 6-30-25. |
| (C) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements. |
| (D) | Strike price and/or expiration date not available. |
| (E) | The rate shown is the annualized seven-day yield as of 6-30-25. |
| (F) | Investment is an affiliate of the fund, the advisor and/or subadvisor. A portion of this security represents the investment of cash collateral received for securities lending. Market value of this investment amounted to $7,741,754. |

---

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| Russell 2000 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;179 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;$19407005 | &nbsp;&nbsp;&nbsp;&nbsp;$19615715 | &nbsp;&nbsp;&nbsp;&nbsp;$208710 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$208710** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

See Notes to financial statements regarding investment transactions and other derivatives information.

#### Small Cap Opportunities Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS – 99.9%** | **COMMON STOCKS – 99.9%** |  |
| **Communication services – 3.9%** |  |  |
| **Diversified telecommunication services – 0.7%** | **Diversified telecommunication services – 0.7%** |  |
| ATN International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1281 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20816 |
| Bandwidth, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37031 |
| Frontier Communications Parent, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;407462 |
| GCI Liberty, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Liberty Global, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15913 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159289 |
| Liberty Global, Ltd., Class C (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119184 |
| Liberty Latin America, Ltd., Class A (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25644 |
| Liberty Latin America, Ltd., Class C (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13964 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86856 |
| Shenandoah Telecommunications Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6437 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87929 |
| Sunrise Communications AG, Class A, ADR (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2408 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136172 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1080383 |
| **Entertainment – 0.2%** | **Entertainment – 0.2%** |  |
| Liberty Media Corp.-Liberty Live, Series A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7471 |
| Liberty Media Corp.-Liberty Live, Series C (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7223 |
| Lionsgate Studios Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3261 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18946 |
| Sphere Entertainment Company (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2847 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119005 |
| Starz Entertainment Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3487 |
| The Marcus Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4627 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78011 |
| Vivid Seats, Inc., Class A (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4064 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6868 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;241011 |
| **Interactive media and services – 0.4%** | **Interactive media and services – 0.4%** |  |
| Angi, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4966 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75781 |
| Bumble, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15466 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101921 |
| Cars.com, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70306 |
| DHI Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5212 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15480 |
| TripAdvisor, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4579 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59756 |
| TrueCar, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15299 |
| Vimeo, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24644 |
| Yelp, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82145 |

---

#### Small Cap Opportunities Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Interactive media and services (continued)** | **Interactive media and services (continued)** |  |
| Ziff Davis, Inc. (A) | &nbsp;&nbsp;3608 | $&nbsp;&nbsp;&nbsp;&nbsp;109214 |
| ZoomInfo Technologies, Inc. (A) | 17541 | &nbsp;&nbsp;&nbsp;&nbsp;177515 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;732061 |
| **Media – 2.2%** | **Media – 2.2%** |  |
| Advantage Solutions, Inc. (A) | &nbsp;&nbsp;9240 | &nbsp;&nbsp;&nbsp;&nbsp;12197 |
| AMC Networks, Inc., Class A (A) | &nbsp;&nbsp;2542 | &nbsp;&nbsp;&nbsp;&nbsp;15938 |
| Boston Omaha Corp., Class A (A) | &nbsp;&nbsp;2031 | &nbsp;&nbsp;&nbsp;&nbsp;28515 |
| Cable One, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;528 | &nbsp;&nbsp;&nbsp;&nbsp;71708 |
| DoubleVerify Holdings, Inc. (A) | &nbsp;&nbsp;6704 | &nbsp;&nbsp;&nbsp;&nbsp;100359 |
| EchoStar Corp., Class A (A) | &nbsp;&nbsp;3901 | &nbsp;&nbsp;&nbsp;&nbsp;108058 |
| Entravision Communications Corp., Class A | &nbsp;&nbsp;5075 | &nbsp;&nbsp;&nbsp;&nbsp;11774 |
| Gannett Company, Inc. (A) | 16874 | &nbsp;&nbsp;&nbsp;&nbsp;60409 |
| Gray Media, Inc. | &nbsp;&nbsp;6546 | &nbsp;&nbsp;&nbsp;&nbsp;29653 |
| Integral Ad Science Holding Corp. (A) | 12847 | &nbsp;&nbsp;&nbsp;&nbsp;106759 |
| John Wiley & Sons, Inc., Class A | &nbsp;&nbsp;3198 | &nbsp;&nbsp;&nbsp;&nbsp;142727 |
| Liberty Broadband Corp., Series A (A) | &nbsp;&nbsp;2267 | &nbsp;&nbsp;&nbsp;&nbsp;221758 |
| Liberty Broadband Corp., Series C (A) | 10545 | 1037417 |
| Magnite, Inc. (A) | 13065 | &nbsp;&nbsp;&nbsp;&nbsp;315128 |
| National CineMedia, Inc. | &nbsp;&nbsp;5768 | &nbsp;&nbsp;&nbsp;&nbsp;27946 |
| Nexstar Media Group, Inc. | &nbsp;&nbsp;2524 | &nbsp;&nbsp;&nbsp;&nbsp;436526 |
| Paramount Global, Class B | &nbsp;&nbsp;9137 | &nbsp;&nbsp;&nbsp;&nbsp;117867 |
| PubMatic, Inc., Class A (A) | &nbsp;&nbsp;1567 | &nbsp;&nbsp;&nbsp;&nbsp;19493 |
| Scholastic Corp. | &nbsp;&nbsp;3690 | &nbsp;&nbsp;&nbsp;&nbsp;77416 |
| Sinclair, Inc. | &nbsp;&nbsp;1410 | &nbsp;&nbsp;&nbsp;&nbsp;19486 |
| Sirius XM Holdings, Inc. | &nbsp;&nbsp;8717 | &nbsp;&nbsp;&nbsp;&nbsp;200229 |
| TEGNA, Inc. | 14274 | &nbsp;&nbsp;&nbsp;&nbsp;239232 |
| The EW Scripps Company, Class A (A) | &nbsp;&nbsp;5843 | &nbsp;&nbsp;&nbsp;&nbsp;17178 |
| The Interpublic Group of Companies, Inc. | 10260 | &nbsp;&nbsp;&nbsp;&nbsp;251165 |
| Urban One, Inc., Class D (A) | &nbsp;&nbsp;3100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1956 |
| WideOpenWest, Inc. (A) | &nbsp;&nbsp;1042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4231 |
|  |  | 3675125 |
| **Wireless telecommunication services – 0.4%** | **Wireless telecommunication services – 0.4%** |  |
| Spok Holdings, Inc. | &nbsp;&nbsp;2056 | &nbsp;&nbsp;&nbsp;&nbsp;36350 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 101 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Small Cap Opportunities Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Wireless telecommunication services (continued)** | **Wireless telecommunication services (continued)** |  |
| Telephone & Data Systems, Inc. | &nbsp;&nbsp;9503 | $&nbsp;&nbsp;&nbsp;&nbsp;338117 |
| United States Cellular Corp. (A) | &nbsp;&nbsp;4082 | &nbsp;&nbsp;&nbsp;&nbsp;261126 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;635593 |
|  |  | 6364173 |
| **Consumer discretionary – 14.9%** |  |  |
| **Automobile components – 2.7%** | **Automobile components – 2.7%** |  |
| Adient PLC (A) | 10493 | &nbsp;&nbsp;&nbsp;&nbsp;204194 |
| American Axle & Manufacturing Holdings, Inc. (A) | 12966 | &nbsp;&nbsp;&nbsp;&nbsp;52901 |
| Aptiv PLC (A) | &nbsp;&nbsp;8940 | &nbsp;&nbsp;&nbsp;&nbsp;609887 |
| Autoliv, Inc. | &nbsp;&nbsp;1667 | &nbsp;&nbsp;&nbsp;&nbsp;186537 |
| BorgWarner, Inc. | 22841 | &nbsp;&nbsp;&nbsp;&nbsp;764717 |
| Cooper-Standard Holdings, Inc. (A) | &nbsp;&nbsp;1311 | &nbsp;&nbsp;&nbsp;&nbsp;28187 |
| Dana, Inc. | 13642 | &nbsp;&nbsp;&nbsp;&nbsp;233960 |
| Dorman Products, Inc. (A) | &nbsp;&nbsp;2751 | &nbsp;&nbsp;&nbsp;&nbsp;337465 |
| Fox Factory Holding Corp. (A) | &nbsp;&nbsp;3760 | &nbsp;&nbsp;&nbsp;&nbsp;97534 |
| Gentherm, Inc. (A) | &nbsp;&nbsp;1109 | &nbsp;&nbsp;&nbsp;&nbsp;31374 |
| Holley, Inc. (A) | &nbsp;&nbsp;3597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7194 |
| LCI Industries | &nbsp;&nbsp;2008 | &nbsp;&nbsp;&nbsp;&nbsp;183110 |
| Lear Corp. | &nbsp;&nbsp;4812 | &nbsp;&nbsp;&nbsp;&nbsp;457044 |
| Mobileye Global, Inc., Class A (A)(C) | &nbsp;&nbsp;8711 | &nbsp;&nbsp;&nbsp;&nbsp;156624 |
| Motorcar Parts of America, Inc. (A) | &nbsp;&nbsp;1585 | &nbsp;&nbsp;&nbsp;&nbsp;17752 |
| Patrick Industries, Inc. | &nbsp;&nbsp;3625 | &nbsp;&nbsp;&nbsp;&nbsp;334479 |
| PHINIA, Inc. | &nbsp;&nbsp;4248 | &nbsp;&nbsp;&nbsp;&nbsp;188994 |
| Standard Motor Products, Inc. | &nbsp;&nbsp;2401 | &nbsp;&nbsp;&nbsp;&nbsp;73759 |
| Stoneridge, Inc. (A) | &nbsp;&nbsp;1672 | &nbsp;&nbsp;&nbsp;&nbsp;11771 |
| Strattec Security Corp. (A) | &nbsp;&nbsp;1138 | &nbsp;&nbsp;&nbsp;&nbsp;70795 |
| The Goodyear Tire & Rubber Company (A) | 28079 | &nbsp;&nbsp;&nbsp;&nbsp;291179 |
| Visteon Corp. (A) | &nbsp;&nbsp;1571 | &nbsp;&nbsp;&nbsp;&nbsp;146574 |
|  |  | 4486031 |
| **Automobiles – 0.5%** | **Automobiles – 0.5%** |  |
| Harley-Davidson, Inc. | 12576 | &nbsp;&nbsp;&nbsp;&nbsp;296794 |
| Thor Industries, Inc. | &nbsp;&nbsp;4767 | &nbsp;&nbsp;&nbsp;&nbsp;423357 |
| Winnebago Industries, Inc. | &nbsp;&nbsp;3280 | &nbsp;&nbsp;&nbsp;&nbsp;95120 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;815271 |
| **Broadline retail – 0.4%** | **Broadline retail – 0.4%** |  |
| Dillard's, Inc., Class A (C) | &nbsp;&nbsp;&nbsp;&nbsp;442 | &nbsp;&nbsp;&nbsp;&nbsp;184681 |
| Kohl's Corp. (C) | 13005 | &nbsp;&nbsp;&nbsp;&nbsp;110282 |
| Macy's, Inc. | 28501 | &nbsp;&nbsp;&nbsp;&nbsp;332322 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;627285 |
| **Distributors – 0.2%** | **Distributors – 0.2%** |  |
| A-Mark Precious Metals, Inc. | &nbsp;&nbsp;3502 | &nbsp;&nbsp;&nbsp;&nbsp;77674 |
| LKQ Corp. | &nbsp;&nbsp;7080 | &nbsp;&nbsp;&nbsp;&nbsp;262031 |
| Weyco Group, Inc. | &nbsp;&nbsp;1316 | &nbsp;&nbsp;&nbsp;&nbsp;43639 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;383344 |
| **Diversified consumer services – 1.0%** | **Diversified consumer services – 1.0%** |  |
| ADT, Inc. | 47674 | &nbsp;&nbsp;&nbsp;&nbsp;403799 |
| Adtalem Global Education, Inc. (A) | &nbsp;&nbsp;1003 | &nbsp;&nbsp;&nbsp;&nbsp;127612 |
| American Public Education, Inc. (A) | &nbsp;&nbsp;2320 | &nbsp;&nbsp;&nbsp;&nbsp;70667 |
| Carriage Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;798 | &nbsp;&nbsp;&nbsp;&nbsp;36501 |
| Chegg, Inc. (A) | &nbsp;&nbsp;7137 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8636 |
| Graham Holdings Company, Class B | &nbsp;&nbsp;&nbsp;&nbsp;268 | &nbsp;&nbsp;&nbsp;&nbsp;253574 |
| Laureate Education, Inc. (A) | 10302 | &nbsp;&nbsp;&nbsp;&nbsp;240861 |
| Lincoln Educational Services Corp. (A) | &nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp;25355 |
| Matthews International Corp., Class A | &nbsp;&nbsp;3440 | &nbsp;&nbsp;&nbsp;&nbsp;82250 |
| Mister Car Wash, Inc. (A) | &nbsp;&nbsp;9339 | &nbsp;&nbsp;&nbsp;&nbsp;56127 |
| Perdoceo Education Corp. | &nbsp;&nbsp;6614 | &nbsp;&nbsp;&nbsp;&nbsp;216212 |
| Strategic Education, Inc. | &nbsp;&nbsp;2056 | &nbsp;&nbsp;&nbsp;&nbsp;175027 |
|  |  | 1696621 |
| **Hotels, restaurants and leisure – 1.2%** | **Hotels, restaurants and leisure – 1.2%** |  |
| Aramark | &nbsp;&nbsp;7485 | &nbsp;&nbsp;&nbsp;&nbsp;313397 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Hotels, restaurants and leisure (continued)** | **Hotels, restaurants and leisure (continued)** |  |
| Ark Restaurants Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;64 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;584 |
| Biglari Holdings, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4201 |
| Biglari Holdings, Inc., Class B (A) | &nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp;&nbsp;42370 |
| BJ's Restaurants, Inc. (A) | &nbsp;&nbsp;2850 | &nbsp;&nbsp;&nbsp;&nbsp;127110 |
| Caesars Entertainment, Inc. (A) | &nbsp;&nbsp;9191 | &nbsp;&nbsp;&nbsp;&nbsp;260932 |
| Cracker Barrel Old Country Store, Inc. (C) | &nbsp;&nbsp;1259 | &nbsp;&nbsp;&nbsp;&nbsp;76900 |
| El Pollo Loco Holdings, Inc. (A) | &nbsp;&nbsp;2613 | &nbsp;&nbsp;&nbsp;&nbsp;28769 |
| First Watch Restaurant Group, Inc. (A) | &nbsp;&nbsp;5499 | &nbsp;&nbsp;&nbsp;&nbsp;88204 |
| Global Business Travel Group I (A) | &nbsp;&nbsp;6183 | &nbsp;&nbsp;&nbsp;&nbsp;38953 |
| Golden Entertainment, Inc. | &nbsp;&nbsp;1315 | &nbsp;&nbsp;&nbsp;&nbsp;38700 |
| Hilton Grand Vacations, Inc. (A) | &nbsp;&nbsp;5843 | &nbsp;&nbsp;&nbsp;&nbsp;242660 |
| Krispy Kreme, Inc. (C) | 15398 | &nbsp;&nbsp;&nbsp;&nbsp;44808 |
| Marriott Vacations Worldwide Corp. | &nbsp;&nbsp;3104 | &nbsp;&nbsp;&nbsp;&nbsp;224450 |
| MGM Resorts International (A) | &nbsp;&nbsp;1723 | &nbsp;&nbsp;&nbsp;&nbsp;59254 |
| Monarch Casino & Resort, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;504 | &nbsp;&nbsp;&nbsp;&nbsp;43566 |
| Penn Entertainment, Inc. (A) | &nbsp;&nbsp;9680 | &nbsp;&nbsp;&nbsp;&nbsp;172982 |
| Portillo's, Inc., Class A (A)(C) | &nbsp;&nbsp;2351 | &nbsp;&nbsp;&nbsp;&nbsp;27436 |
| Pursuit Attractions and Hospitality, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;368 | &nbsp;&nbsp;&nbsp;&nbsp;10609 |
| RCI Hospitality Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;396 | &nbsp;&nbsp;&nbsp;&nbsp;15096 |
| Target Hospitality Corp. (A) | &nbsp;&nbsp;3167 | &nbsp;&nbsp;&nbsp;&nbsp;22549 |
|  |  | 1883530 |
| **Household durables – 3.3%** | **Household durables – 3.3%** |  |
| Bassett Furniture Industries, Inc. | &nbsp;&nbsp;1234 | &nbsp;&nbsp;&nbsp;&nbsp;18757 |
| Beazer Homes USA, Inc. (A) | &nbsp;&nbsp;3203 | &nbsp;&nbsp;&nbsp;&nbsp;71651 |
| Cavco Industries, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;295 | &nbsp;&nbsp;&nbsp;&nbsp;128157 |
| Century Communities, Inc. | &nbsp;&nbsp;3460 | &nbsp;&nbsp;&nbsp;&nbsp;194867 |
| Champion Homes, Inc. (A) | &nbsp;&nbsp;3390 | &nbsp;&nbsp;&nbsp;&nbsp;212248 |
| Cricut, Inc., Class A | &nbsp;&nbsp;2477 | &nbsp;&nbsp;&nbsp;&nbsp;16769 |
| Dream Finders Homes, Inc., Class A (A)(C) | &nbsp;&nbsp;1861 | &nbsp;&nbsp;&nbsp;&nbsp;46767 |
| Ethan Allen Interiors, Inc. | &nbsp;&nbsp;3592 | &nbsp;&nbsp;&nbsp;&nbsp;100037 |
| Flexsteel Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;817 | &nbsp;&nbsp;&nbsp;&nbsp;29437 |
| GoPro, Inc., Class A (A) | 10155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7690 |
| Green Brick Partners, Inc. (A) | &nbsp;&nbsp;2414 | &nbsp;&nbsp;&nbsp;&nbsp;151792 |
| Helen of Troy, Ltd. (A) | &nbsp;&nbsp;1240 | &nbsp;&nbsp;&nbsp;&nbsp;35191 |
| Hooker Furnishings Corp. | &nbsp;&nbsp;1821 | &nbsp;&nbsp;&nbsp;&nbsp;19266 |
| Hovnanian Enterprises, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;292 | &nbsp;&nbsp;&nbsp;&nbsp;30529 |
| KB Home | &nbsp;&nbsp;4725 | &nbsp;&nbsp;&nbsp;&nbsp;250283 |
| La-Z-Boy, Inc. | &nbsp;&nbsp;4577 | &nbsp;&nbsp;&nbsp;&nbsp;170127 |
| Legacy Housing Corp. (A) | &nbsp;&nbsp;1610 | &nbsp;&nbsp;&nbsp;&nbsp;36483 |
| LGI Homes, Inc. (A) | &nbsp;&nbsp;2578 | &nbsp;&nbsp;&nbsp;&nbsp;132819 |
| Lifetime Brands, Inc. | &nbsp;&nbsp;2931 | &nbsp;&nbsp;&nbsp;&nbsp;14948 |
| M/I Homes, Inc. (A) | &nbsp;&nbsp;1752 | &nbsp;&nbsp;&nbsp;&nbsp;196434 |
| Meritage Homes Corp. | &nbsp;&nbsp;4502 | &nbsp;&nbsp;&nbsp;&nbsp;301499 |
| Mohawk Industries, Inc. (A) | &nbsp;&nbsp;5688 | &nbsp;&nbsp;&nbsp;&nbsp;596330 |
| Newell Brands, Inc. | 42806 | &nbsp;&nbsp;&nbsp;&nbsp;231152 |
| Taylor Morrison Home Corp. (A) | 10987 | &nbsp;&nbsp;&nbsp;&nbsp;674822 |
| The Lovesac Company (A) | &nbsp;&nbsp;1272 | &nbsp;&nbsp;&nbsp;&nbsp;23150 |
| Toll Brothers, Inc. | &nbsp;&nbsp;9028 | 1030366 |
| Traeger, Inc. (A) | &nbsp;&nbsp;3184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5445 |
| Tri Pointe Homes, Inc. (A) | 10989 | &nbsp;&nbsp;&nbsp;&nbsp;351099 |
| Universal Electronics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4932 |
| Whirlpool Corp. | &nbsp;&nbsp;2459 | &nbsp;&nbsp;&nbsp;&nbsp;249392 |
|  |  | 5332439 |
| **Leisure products – 0.7%** | **Leisure products – 0.7%** |  |
| American Outdoor Brands, Inc. (A) | &nbsp;&nbsp;1873 | &nbsp;&nbsp;&nbsp;&nbsp;19573 |
| Brunswick Corp. | &nbsp;&nbsp;4333 | &nbsp;&nbsp;&nbsp;&nbsp;239355 |
| Escalade, Inc. | &nbsp;&nbsp;2119 | &nbsp;&nbsp;&nbsp;&nbsp;29624 |
| Funko, Inc., Class A (A) | &nbsp;&nbsp;2763 | &nbsp;&nbsp;&nbsp;&nbsp;13152 |
| JAKKS Pacific, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;482 | &nbsp;&nbsp;&nbsp;&nbsp;10016 |
| Johnson Outdoors, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;934 | &nbsp;&nbsp;&nbsp;&nbsp;28272 |
| Latham Group, Inc. (A) | &nbsp;&nbsp;3937 | &nbsp;&nbsp;&nbsp;&nbsp;25118 |
| Malibu Boats, Inc., Class A (A) | &nbsp;&nbsp;1546 | &nbsp;&nbsp;&nbsp;&nbsp;48452 |
| MasterCraft Boat Holdings, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;617 | &nbsp;&nbsp;&nbsp;&nbsp;11464 |
| Mattel, Inc. (A) | 20739 | &nbsp;&nbsp;&nbsp;&nbsp;408973 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 102 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Small Cap Opportunities Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Leisure products (continued)** | **Leisure products (continued)** |  |
| Outdoor Holding Company (A) | &nbsp;&nbsp;4648 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5949 |
| Polaris, Inc. | &nbsp;&nbsp;3274 | &nbsp;&nbsp;&nbsp;&nbsp;133088 |
| Smith & Wesson Brands, Inc. | &nbsp;&nbsp;5955 | &nbsp;&nbsp;&nbsp;&nbsp;51689 |
| Solo Brands, Inc., Class A (A) | &nbsp;&nbsp;2350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;705 |
| Sturm Ruger & Company, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9155 |
| Topgolf Callaway Brands Corp. (A) | 16634 | &nbsp;&nbsp;&nbsp;&nbsp;133904 |
|  |  | 1168489 |
| **Specialty retail – 3.9%** | **Specialty retail – 3.9%** |  |
| 1-800-Flowers.com, Inc., Class A (A)(C) | &nbsp;&nbsp;3196 | &nbsp;&nbsp;&nbsp;&nbsp;15724 |
| Abercrombie & Fitch Company, Class A (A) | &nbsp;&nbsp;1293 | &nbsp;&nbsp;&nbsp;&nbsp;107125 |
| Academy Sports & Outdoors, Inc. | &nbsp;&nbsp;9168 | &nbsp;&nbsp;&nbsp;&nbsp;410818 |
| Advance Auto Parts, Inc. (C) | &nbsp;&nbsp;5328 | &nbsp;&nbsp;&nbsp;&nbsp;247699 |
| American Eagle Outfitters, Inc. | 24907 | &nbsp;&nbsp;&nbsp;&nbsp;239605 |
| America's Car-Mart, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;565 | &nbsp;&nbsp;&nbsp;&nbsp;31663 |
| Arko Corp. | &nbsp;&nbsp;2615 | &nbsp;&nbsp;&nbsp;&nbsp;11061 |
| Asbury Automotive Group, Inc. (A) | &nbsp;&nbsp;1739 | &nbsp;&nbsp;&nbsp;&nbsp;414821 |
| AutoNation, Inc. (A) | &nbsp;&nbsp;2932 | &nbsp;&nbsp;&nbsp;&nbsp;582442 |
| Caleres, Inc. | &nbsp;&nbsp;3065 | &nbsp;&nbsp;&nbsp;&nbsp;37454 |
| Citi Trends, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;367 | &nbsp;&nbsp;&nbsp;&nbsp;12254 |
| Designer Brands, Inc., Class A (C) | &nbsp;&nbsp;2923 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6957 |
| Destination XL Group, Inc. (A) | &nbsp;&nbsp;2471 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2743 |
| Duluth Holdings, Inc., Class B (A) | &nbsp;&nbsp;1106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2323 |
| Five Below, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;737 | &nbsp;&nbsp;&nbsp;&nbsp;96680 |
| Foot Locker, Inc. (A)(C) | &nbsp;&nbsp;6590 | &nbsp;&nbsp;&nbsp;&nbsp;161455 |
| Genesco, Inc. (A) | &nbsp;&nbsp;1311 | &nbsp;&nbsp;&nbsp;&nbsp;25814 |
| Group 1 Automotive, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;690 | &nbsp;&nbsp;&nbsp;&nbsp;301330 |
| GrowGeneration Corp. (A) | &nbsp;&nbsp;2529 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2365 |
| Guess?, Inc. | &nbsp;&nbsp;7810 | &nbsp;&nbsp;&nbsp;&nbsp;94423 |
| Haverty Furniture Companies, Inc. | &nbsp;&nbsp;1613 | &nbsp;&nbsp;&nbsp;&nbsp;32825 |
| Lands' End, Inc. (A)(C) | &nbsp;&nbsp;2354 | &nbsp;&nbsp;&nbsp;&nbsp;25211 |
| Lithia Motors, Inc. | &nbsp;&nbsp;2347 | &nbsp;&nbsp;&nbsp;&nbsp;792864 |
| MarineMax, Inc. (A) | &nbsp;&nbsp;3082 | &nbsp;&nbsp;&nbsp;&nbsp;77481 |
| Monro, Inc. | &nbsp;&nbsp;3278 | &nbsp;&nbsp;&nbsp;&nbsp;48875 |
| National Vision Holdings, Inc. (A) | &nbsp;&nbsp;9562 | &nbsp;&nbsp;&nbsp;&nbsp;220022 |
| OneWater Marine, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7110 |
| Penske Automotive Group, Inc. | &nbsp;&nbsp;1758 | &nbsp;&nbsp;&nbsp;&nbsp;302042 |
| Petco Health & Wellness Company, Inc. (A) | &nbsp;&nbsp;8896 | &nbsp;&nbsp;&nbsp;&nbsp;25176 |
| PetMed Express, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;654 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2171 |
| Sally Beauty Holdings, Inc. (A) | &nbsp;&nbsp;8532 | &nbsp;&nbsp;&nbsp;&nbsp;79006 |
| Shoe Carnival, Inc. | &nbsp;&nbsp;3686 | &nbsp;&nbsp;&nbsp;&nbsp;68965 |
| Signet Jewelers, Ltd. | &nbsp;&nbsp;4587 | &nbsp;&nbsp;&nbsp;&nbsp;364896 |
| Sonic Automotive, Inc., Class A | &nbsp;&nbsp;2092 | &nbsp;&nbsp;&nbsp;&nbsp;167214 |
| Sportsman's Warehouse Holdings, Inc. (A) | &nbsp;&nbsp;3273 | &nbsp;&nbsp;&nbsp;&nbsp;11292 |
| The Cato Corp., Class A | &nbsp;&nbsp;1957 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5499 |
| The Gap, Inc. | 27734 | &nbsp;&nbsp;&nbsp;&nbsp;604879 |
| The ODP Corp. (A) | &nbsp;&nbsp;4617 | &nbsp;&nbsp;&nbsp;&nbsp;83706 |
| Upbound Group, Inc. | &nbsp;&nbsp;4529 | &nbsp;&nbsp;&nbsp;&nbsp;113678 |
| Urban Outfitters, Inc. (A) | &nbsp;&nbsp;5096 | &nbsp;&nbsp;&nbsp;&nbsp;369664 |
| Victoria's Secret & Company (A) | &nbsp;&nbsp;4144 | &nbsp;&nbsp;&nbsp;&nbsp;76747 |
| Zumiez, Inc. (A) | &nbsp;&nbsp;1822 | &nbsp;&nbsp;&nbsp;&nbsp;24160 |
|  |  | 6308239 |
| **Textiles, apparel and luxury goods – 1.0%** | **Textiles, apparel and luxury goods – 1.0%** |  |
| Capri Holdings, Ltd. (A) | &nbsp;&nbsp;3344 | &nbsp;&nbsp;&nbsp;&nbsp;59189 |
| Carter's, Inc. | &nbsp;&nbsp;3145 | &nbsp;&nbsp;&nbsp;&nbsp;94759 |
| Columbia Sportswear Company | &nbsp;&nbsp;3185 | &nbsp;&nbsp;&nbsp;&nbsp;194540 |
| Crocs, Inc. (A) | &nbsp;&nbsp;1904 | &nbsp;&nbsp;&nbsp;&nbsp;192837 |
| Culp, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1313 |
| Figs, Inc., Class A (A) | &nbsp;&nbsp;3836 | &nbsp;&nbsp;&nbsp;&nbsp;21635 |
| Fossil Group, Inc. (A) | &nbsp;&nbsp;3231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4782 |
| G-III Apparel Group, Ltd. (A) | &nbsp;&nbsp;5446 | &nbsp;&nbsp;&nbsp;&nbsp;121990 |
| Lakeland Industries, Inc. | &nbsp;&nbsp;1110 | &nbsp;&nbsp;&nbsp;&nbsp;15107 |
| Movado Group, Inc. | &nbsp;&nbsp;1758 | &nbsp;&nbsp;&nbsp;&nbsp;26810 |
| Oxford Industries, Inc. | &nbsp;&nbsp;1341 | &nbsp;&nbsp;&nbsp;&nbsp;53975 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Textiles, apparel and luxury goods (continued)** | **Textiles, apparel and luxury goods (continued)** |  |
| Peace Mark Holdings, Ltd. (A)(B) | 464000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| PVH Corp. | &nbsp;&nbsp;&nbsp;6608 | &nbsp;&nbsp;&nbsp;&nbsp;453309 |
| Rocky Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;802 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17796 |
| Steven Madden, Ltd. | &nbsp;&nbsp;&nbsp;3578 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85800 |
| Superior Group of Companies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6829 |
| Under Armour, Inc., Class A (A) | &nbsp;&nbsp;22489 | &nbsp;&nbsp;&nbsp;&nbsp;153600 |
| Under Armour, Inc., Class C (A) | &nbsp;&nbsp;17114 | &nbsp;&nbsp;&nbsp;&nbsp;111070 |
| Unifi, Inc. (A) | &nbsp;&nbsp;&nbsp;2453 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12805 |
| Vera Bradley, Inc. (A) | &nbsp;&nbsp;&nbsp;2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4495 |
|  |  | &nbsp;&nbsp;&nbsp;1632641 |
|  |  | 24333890 |
| **Consumer staples – 5.7%** |  |  |
| **Beverages – 0.6%** | **Beverages – 0.6%** |  |
| MGP Ingredients, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17113 |
| Molson Coors Beverage Company, Class B | &nbsp;&nbsp;19880 | &nbsp;&nbsp;&nbsp;&nbsp;956018 |
| The Boston Beer Company, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;492 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93879 |
|  |  | &nbsp;&nbsp;&nbsp;1067010 |
| **Consumer staples distribution and retail – 0.8%** | **Consumer staples distribution and retail – 0.8%** |  |
| Grocery Outlet Holding Corp. (A)(C) | &nbsp;&nbsp;11732 | &nbsp;&nbsp;&nbsp;&nbsp;145711 |
| Ingles Markets, Inc., Class A | &nbsp;&nbsp;&nbsp;3213 | &nbsp;&nbsp;&nbsp;&nbsp;203640 |
| Performance Food Group Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55806 |
| PriceSmart, Inc. | &nbsp;&nbsp;&nbsp;2309 | &nbsp;&nbsp;&nbsp;&nbsp;242537 |
| SpartanNash Company | &nbsp;&nbsp;&nbsp;4523 | &nbsp;&nbsp;&nbsp;&nbsp;119814 |
| The Andersons, Inc. | &nbsp;&nbsp;&nbsp;3985 | &nbsp;&nbsp;&nbsp;&nbsp;146449 |
| United Natural Foods, Inc. (A) | &nbsp;&nbsp;&nbsp;7086 | &nbsp;&nbsp;&nbsp;&nbsp;165175 |
| Village Super Market, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26373 |
| Walgreens Boots Alliance, Inc. | &nbsp;&nbsp;&nbsp;2273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26094 |
| Weis Markets, Inc. | &nbsp;&nbsp;&nbsp;2494 | &nbsp;&nbsp;&nbsp;&nbsp;180790 |
|  |  | &nbsp;&nbsp;&nbsp;1312389 |
| **Food products – 3.7%** | **Food products – 3.7%** |  |
| Alico, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21242 |
| B&G Foods, Inc. (C) | &nbsp;&nbsp;&nbsp;5104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21590 |
| Bunge Global SA | &nbsp;&nbsp;11959 | &nbsp;&nbsp;&nbsp;&nbsp;960070 |
| Calavo Growers, Inc. | &nbsp;&nbsp;&nbsp;1494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39725 |
| Cal-Maine Foods, Inc. | &nbsp;&nbsp;&nbsp;3931 | &nbsp;&nbsp;&nbsp;&nbsp;391646 |
| Conagra Brands, Inc. | &nbsp;&nbsp;31703 | &nbsp;&nbsp;&nbsp;&nbsp;648960 |
| Darling Ingredients, Inc. (A) | &nbsp;&nbsp;14442 | &nbsp;&nbsp;&nbsp;&nbsp;547929 |
| Dole PLC | &nbsp;&nbsp;&nbsp;8043 | &nbsp;&nbsp;&nbsp;&nbsp;112522 |
| Farmer Brothers Company (A) | &nbsp;&nbsp;&nbsp;1069 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1465 |
| Flowers Foods, Inc. | &nbsp;&nbsp;10081 | &nbsp;&nbsp;&nbsp;&nbsp;161094 |
| Fresh Del Monte Produce, Inc. | &nbsp;&nbsp;&nbsp;5560 | &nbsp;&nbsp;&nbsp;&nbsp;180255 |
| Ingredion, Inc. | &nbsp;&nbsp;&nbsp;4520 | &nbsp;&nbsp;&nbsp;&nbsp;613002 |
| J&J Snack Foods Corp. | &nbsp;&nbsp;&nbsp;&nbsp;740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83923 |
| John B Sanfilippo & Son, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29217 |
| Limoneira Company | &nbsp;&nbsp;&nbsp;&nbsp;726 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11362 |
| Mission Produce, Inc. (A) | &nbsp;&nbsp;&nbsp;6987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81888 |
| Pilgrim's Pride Corp. | &nbsp;&nbsp;&nbsp;6100 | &nbsp;&nbsp;&nbsp;&nbsp;274378 |
| Post Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;2899 | &nbsp;&nbsp;&nbsp;&nbsp;316078 |
| Seaboard Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91 | &nbsp;&nbsp;&nbsp;&nbsp;260369 |
| Seneca Foods Corp., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68465 |
| The Campbell's Company | &nbsp;&nbsp;11573 | &nbsp;&nbsp;&nbsp;&nbsp;354712 |
| The Hain Celestial Group, Inc. (A) | &nbsp;&nbsp;&nbsp;4728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7187 |
| The J.M. Smucker Company | &nbsp;&nbsp;&nbsp;2941 | &nbsp;&nbsp;&nbsp;&nbsp;288806 |
| The Simply Good Foods Company (A) | &nbsp;&nbsp;10381 | &nbsp;&nbsp;&nbsp;&nbsp;327936 |
| Tootsie Roll Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;761 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25455 |
| TreeHouse Foods, Inc. (A) | &nbsp;&nbsp;&nbsp;5848 | &nbsp;&nbsp;&nbsp;&nbsp;113568 |
| Utz Brands, Inc. | &nbsp;&nbsp;&nbsp;4321 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54229 |
|  |  | &nbsp;&nbsp;&nbsp;5997073 |
| **Household products – 0.4%** | **Household products – 0.4%** |  |
| Central Garden & Pet Company (A) | &nbsp;&nbsp;&nbsp;1833 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64485 |
| Central Garden & Pet Company, Class A (A) | &nbsp;&nbsp;&nbsp;4521 | &nbsp;&nbsp;&nbsp;&nbsp;141462 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 103 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Small Cap Opportunities Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Household products (continued)** | **Household products (continued)** |  |
| Oil-Dri Corp. of America | &nbsp;&nbsp;1062 | $&nbsp;&nbsp;&nbsp;&nbsp;62647 |
| Reynolds Consumer Products, Inc. | 11270 | &nbsp;&nbsp;&nbsp;&nbsp;241403 |
| Spectrum Brands Holdings, Inc. | &nbsp;&nbsp;2271 | &nbsp;&nbsp;&nbsp;&nbsp;120363 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;630360 |
| **Personal care products – 0.1%** | **Personal care products – 0.1%** |  |
| Coty, Inc., Class A (A) | &nbsp;&nbsp;1388 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6454 |
| Edgewell Personal Care Company | &nbsp;&nbsp;6385 | &nbsp;&nbsp;&nbsp;&nbsp;149473 |
| Natural Alternatives International, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;656 |
| Nature's Sunshine Products, Inc. (A) | &nbsp;&nbsp;1118 | &nbsp;&nbsp;&nbsp;&nbsp;16535 |
| Nu Skin Enterprises, Inc., Class A | &nbsp;&nbsp;2988 | &nbsp;&nbsp;&nbsp;&nbsp;23874 |
| The Honest Company, Inc. (A) | &nbsp;&nbsp;3767 | &nbsp;&nbsp;&nbsp;&nbsp;19174 |
| USANA Health Sciences, Inc. (A) | &nbsp;&nbsp;1639 | &nbsp;&nbsp;&nbsp;&nbsp;50039 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;266205 |
| **Tobacco – 0.1%** | **Tobacco – 0.1%** |  |
| Universal Corp. | &nbsp;&nbsp;2089 | &nbsp;&nbsp;&nbsp;&nbsp;121663 |
|  |  | 9394700 |
| **Energy – 9.3%** |  |  |
| **Energy equipment and services – 2.1%** | **Energy equipment and services – 2.1%** |  |
| Archrock, Inc. | &nbsp;&nbsp;8226 | &nbsp;&nbsp;&nbsp;&nbsp;204252 |
| Atlas Energy Solutions, Inc. (C) | &nbsp;&nbsp;4723 | &nbsp;&nbsp;&nbsp;&nbsp;63147 |
| Borr Drilling, Ltd. (A) | &nbsp;&nbsp;7383 | &nbsp;&nbsp;&nbsp;&nbsp;13511 |
| Bristow Group, Inc. (A) | &nbsp;&nbsp;2707 | &nbsp;&nbsp;&nbsp;&nbsp;89250 |
| Cactus, Inc., Class A | &nbsp;&nbsp;1520 | &nbsp;&nbsp;&nbsp;&nbsp;66454 |
| Core Laboratories, Inc. | &nbsp;&nbsp;3240 | &nbsp;&nbsp;&nbsp;&nbsp;37325 |
| DMC Global, Inc. (A) | &nbsp;&nbsp;1495 | &nbsp;&nbsp;&nbsp;&nbsp;12050 |
| Expro Group Holdings NV (A) | &nbsp;&nbsp;7270 | &nbsp;&nbsp;&nbsp;&nbsp;62449 |
| Forum Energy Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7340 |
| Geospace Technologies Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7358 |
| Gulf Island Fabrication, Inc. (A) | &nbsp;&nbsp;3019 | &nbsp;&nbsp;&nbsp;&nbsp;20076 |
| Helix Energy Solutions Group, Inc. (A) | 15979 | &nbsp;&nbsp;&nbsp;&nbsp;99709 |
| Helmerich & Payne, Inc. | 10203 | &nbsp;&nbsp;&nbsp;&nbsp;154677 |
| Innovex International, Inc. (A) | &nbsp;&nbsp;4094 | &nbsp;&nbsp;&nbsp;&nbsp;63948 |
| Kodiak Gas Services, Inc. | &nbsp;&nbsp;4848 | &nbsp;&nbsp;&nbsp;&nbsp;166141 |
| Liberty Energy, Inc. | 17241 | &nbsp;&nbsp;&nbsp;&nbsp;197927 |
| Nabors Industries, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;530 | &nbsp;&nbsp;&nbsp;&nbsp;14851 |
| National Energy Services Reunited Corp. (A) | &nbsp;&nbsp;3276 | &nbsp;&nbsp;&nbsp;&nbsp;19722 |
| Natural Gas Services Group, Inc. (A) | &nbsp;&nbsp;2299 | &nbsp;&nbsp;&nbsp;&nbsp;59337 |
| Noble Corp. PLC | &nbsp;&nbsp;8341 | &nbsp;&nbsp;&nbsp;&nbsp;221454 |
| NOV, Inc. | 27434 | &nbsp;&nbsp;&nbsp;&nbsp;341005 |
| Oceaneering International, Inc. (A) | &nbsp;&nbsp;5206 | &nbsp;&nbsp;&nbsp;&nbsp;107868 |
| Oil States International, Inc. (A) | &nbsp;&nbsp;4041 | &nbsp;&nbsp;&nbsp;&nbsp;21660 |
| Patterson-UTI Energy, Inc. | 44990 | &nbsp;&nbsp;&nbsp;&nbsp;266791 |
| ProPetro Holding Corp. (A) | 12321 | &nbsp;&nbsp;&nbsp;&nbsp;73556 |
| Ranger Energy Services, Inc., Class A | &nbsp;&nbsp;1141 | &nbsp;&nbsp;&nbsp;&nbsp;13624 |
| RPC, Inc. | 18302 | &nbsp;&nbsp;&nbsp;&nbsp;86568 |
| SEACOR Marine Holdings, Inc. (A) | &nbsp;&nbsp;2432 | &nbsp;&nbsp;&nbsp;&nbsp;12403 |
| Seadrill, Ltd. (A) | &nbsp;&nbsp;5319 | &nbsp;&nbsp;&nbsp;&nbsp;139624 |
| Select Water Solutions, Inc. | &nbsp;&nbsp;9501 | &nbsp;&nbsp;&nbsp;&nbsp;82089 |
| TETRA Technologies, Inc. (A) | &nbsp;&nbsp;4641 | &nbsp;&nbsp;&nbsp;&nbsp;15594 |
| Tidewater, Inc. (A) | &nbsp;&nbsp;2637 | &nbsp;&nbsp;&nbsp;&nbsp;121645 |
| Transocean, Ltd. (A) | 59579 | &nbsp;&nbsp;&nbsp;&nbsp;154310 |
| Valaris, Ltd. (A) | &nbsp;&nbsp;5291 | &nbsp;&nbsp;&nbsp;&nbsp;222804 |
| Weatherford International PLC | &nbsp;&nbsp;2483 | &nbsp;&nbsp;&nbsp;&nbsp;124920 |
|  |  | 3365439 |
| **Oil, gas and consumable fuels – 7.2%** | **Oil, gas and consumable fuels – 7.2%** |  |
| Amplify Energy Corp. (A) | &nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4800 |
| Antero Resources Corp. (A) | 11542 | &nbsp;&nbsp;&nbsp;&nbsp;464912 |
| APA Corp. | 34160 | &nbsp;&nbsp;&nbsp;&nbsp;624786 |
| Ardmore Shipping Corp. | &nbsp;&nbsp;3297 | &nbsp;&nbsp;&nbsp;&nbsp;31651 |
| Berry Corp. | &nbsp;&nbsp;5062 | &nbsp;&nbsp;&nbsp;&nbsp;14022 |
| California Resources Corp. | &nbsp;&nbsp;7754 | &nbsp;&nbsp;&nbsp;&nbsp;354125 |
| Chord Energy Corp. | &nbsp;&nbsp;2859 | &nbsp;&nbsp;&nbsp;&nbsp;276894 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Oil, gas and consumable fuels (continued)** | **Oil, gas and consumable fuels (continued)** |  |
| Civitas Resources, Inc. | &nbsp;&nbsp;8282 | $&nbsp;&nbsp;&nbsp;&nbsp;227921 |
| Clean Energy Fuels Corp. (A) | 20254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39495 |
| CNX Resources Corp. (A) | 18640 | &nbsp;&nbsp;&nbsp;&nbsp;627795 |
| Comstock Resources, Inc. (A) | 12510 | &nbsp;&nbsp;&nbsp;&nbsp;346152 |
| Core Natural Resources, Inc. | &nbsp;&nbsp;4560 | &nbsp;&nbsp;&nbsp;&nbsp;318014 |
| Crescent Energy Company, Class A | 23094 | &nbsp;&nbsp;&nbsp;&nbsp;198608 |
| CVR Energy, Inc. | &nbsp;&nbsp;6035 | &nbsp;&nbsp;&nbsp;&nbsp;162040 |
| Delek US Holdings, Inc. | &nbsp;&nbsp;5041 | &nbsp;&nbsp;&nbsp;&nbsp;106768 |
| DHT Holdings, Inc. | 14515 | &nbsp;&nbsp;&nbsp;&nbsp;156907 |
| Dorian LPG, Ltd. | &nbsp;&nbsp;5467 | &nbsp;&nbsp;&nbsp;&nbsp;133285 |
| DT Midstream, Inc. | &nbsp;&nbsp;3839 | &nbsp;&nbsp;&nbsp;&nbsp;421944 |
| Evolution Petroleum Corp. | &nbsp;&nbsp;1700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7990 |
| FutureFuel Corp. | &nbsp;&nbsp;4276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16591 |
| Granite Ridge Resources, Inc. | &nbsp;&nbsp;5668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36105 |
| Green Plains, Inc. (A) | &nbsp;&nbsp;3377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20363 |
| Gulfport Energy Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;922 | &nbsp;&nbsp;&nbsp;&nbsp;185479 |
| Hallador Energy Company (A) | &nbsp;&nbsp;1635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25882 |
| HF Sinclair Corp. | 19315 | &nbsp;&nbsp;&nbsp;&nbsp;793460 |
| International Seaways, Inc. | &nbsp;&nbsp;5151 | &nbsp;&nbsp;&nbsp;&nbsp;187908 |
| Kosmos Energy, Ltd. (A) | 16832 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28951 |
| Magnolia Oil & Gas Corp., Class A | 16854 | &nbsp;&nbsp;&nbsp;&nbsp;378878 |
| Matador Resources Company | 11287 | &nbsp;&nbsp;&nbsp;&nbsp;538616 |
| Murphy Oil Corp. | 16753 | &nbsp;&nbsp;&nbsp;&nbsp;376943 |
| NACCO Industries, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31017 |
| Nordic American Tankers, Ltd. | 20225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53192 |
| Northern Oil and Gas, Inc. | &nbsp;&nbsp;9425 | &nbsp;&nbsp;&nbsp;&nbsp;267199 |
| Ovintiv, Inc. | 20547 | &nbsp;&nbsp;&nbsp;&nbsp;781813 |
| PBF Energy, Inc., Class A | 14195 | &nbsp;&nbsp;&nbsp;&nbsp;307606 |
| Peabody Energy Corp. | 17164 | &nbsp;&nbsp;&nbsp;&nbsp;230341 |
| Permian Resources Corp. | 63180 | &nbsp;&nbsp;&nbsp;&nbsp;860512 |
| Range Resources Corp. | 14736 | &nbsp;&nbsp;&nbsp;&nbsp;599313 |
| REX American Resources Corp. (A) | &nbsp;&nbsp;1888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91964 |
| Riley Exploration Permian, Inc. | &nbsp;&nbsp;1631 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42781 |
| SandRidge Energy, Inc. | &nbsp;&nbsp;3343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36171 |
| Scorpio Tankers, Inc. | &nbsp;&nbsp;6270 | &nbsp;&nbsp;&nbsp;&nbsp;245345 |
| SFL Corp., Ltd. | 12426 | &nbsp;&nbsp;&nbsp;&nbsp;103509 |
| Sitio Royalties Corp., Class A | &nbsp;&nbsp;4926 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90540 |
| SM Energy Company | 11859 | &nbsp;&nbsp;&nbsp;&nbsp;293036 |
| Talos Energy, Inc. (A) | 16487 | &nbsp;&nbsp;&nbsp;&nbsp;139810 |
| Teekay Corp., Ltd. | &nbsp;&nbsp;7202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59417 |
| Teekay Tankers, Ltd., Class A | &nbsp;&nbsp;4448 | &nbsp;&nbsp;&nbsp;&nbsp;185571 |
| VAALCO Energy, Inc. | &nbsp;&nbsp;6882 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24844 |
| Vitesse Energy, Inc. (C) | &nbsp;&nbsp;1343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29667 |
| World Kinect Corp. | &nbsp;&nbsp;7679 | &nbsp;&nbsp;&nbsp;&nbsp;217700 |
|  |  | 11798633 |
|  |  | 15164072 |
| **Financials – 28.2%** |  |  |
| **Banks – 17.8%** | **Banks – 17.8%** |  |
| 1st Source Corp. | &nbsp;&nbsp;2221 | &nbsp;&nbsp;&nbsp;&nbsp;137857 |
| ACNB Corp. | &nbsp;&nbsp;&nbsp;&nbsp;394 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16879 |
| Amalgamated Financial Corp. | &nbsp;&nbsp;2746 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85675 |
| Amerant Bancorp, Inc. | &nbsp;&nbsp;3652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66576 |
| Ameris Bancorp | &nbsp;&nbsp;5877 | &nbsp;&nbsp;&nbsp;&nbsp;380242 |
| Ames National Corp. | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8905 |
| Arrow Financial Corp. | &nbsp;&nbsp;1150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30383 |
| Associated Banc-Corp. | 16592 | &nbsp;&nbsp;&nbsp;&nbsp;404679 |
| Atlantic Union Bankshares Corp. | 12283 | &nbsp;&nbsp;&nbsp;&nbsp;384212 |
| Axos Financial, Inc. (A) | &nbsp;&nbsp;5130 | &nbsp;&nbsp;&nbsp;&nbsp;390085 |
| Banc of California, Inc. | &nbsp;&nbsp;7844 | &nbsp;&nbsp;&nbsp;&nbsp;110208 |
| Bank First Corp. | &nbsp;&nbsp;&nbsp;&nbsp;187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22001 |
| Bank of Hawaii Corp. (C) | &nbsp;&nbsp;&nbsp;&nbsp;722 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48757 |
| Bank of Marin Bancorp | &nbsp;&nbsp;3059 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69868 |
| Bank OZK | 11075 | &nbsp;&nbsp;&nbsp;&nbsp;521190 |
| Bank7 Corp. | &nbsp;&nbsp;&nbsp;&nbsp;293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12256 |
| BankFinancial Corp. | &nbsp;&nbsp;2146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24829 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 104 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Small Cap Opportunities Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Banks (continued)** | **Banks (continued)** |  |
| BankUnited, Inc. | &nbsp;&nbsp;8653 | $307960 |
| Bankwell Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;14412 |
| Banner Corp. | &nbsp;&nbsp;3299 | 211631 |
| Bar Harbor Bankshares | &nbsp;&nbsp;2090 | &nbsp;&nbsp;&nbsp;62616 |
| BayCom Corp. | &nbsp;&nbsp;1125 | &nbsp;&nbsp;&nbsp;31174 |
| BCB Bancorp, Inc. | &nbsp;&nbsp;1477 | &nbsp;&nbsp;&nbsp;12436 |
| Berkshire Hills Bancorp, Inc. | &nbsp;&nbsp;6648 | 166466 |
| Blue Foundry Bancorp (A) | &nbsp;&nbsp;&nbsp;&nbsp;912 | &nbsp;&nbsp;&nbsp;&nbsp;8728 |
| Blue Ridge Bankshares, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;682 | &nbsp;&nbsp;&nbsp;&nbsp;2448 |
| BOK Financial Corp. | &nbsp;&nbsp;4828 | 471358 |
| Bridgewater Bancshares, Inc. (A) | &nbsp;&nbsp;1759 | &nbsp;&nbsp;&nbsp;27986 |
| Brookline Bancorp, Inc. | 10567 | 111482 |
| Business First Bancshares, Inc. | &nbsp;&nbsp;1862 | &nbsp;&nbsp;&nbsp;45898 |
| Byline Bancorp, Inc. | &nbsp;&nbsp;4069 | 108764 |
| C&F Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;312 | &nbsp;&nbsp;&nbsp;19260 |
| Cadence Bank | 17565 | 561729 |
| California BanCorp (A) | &nbsp;&nbsp;&nbsp;&nbsp;814 | &nbsp;&nbsp;&nbsp;12829 |
| Camden National Corp. | &nbsp;&nbsp;1655 | &nbsp;&nbsp;&nbsp;67160 |
| Capital Bancorp, Inc. | &nbsp;&nbsp;1039 | &nbsp;&nbsp;&nbsp;34890 |
| Capital City Bank Group, Inc. | &nbsp;&nbsp;2242 | &nbsp;&nbsp;&nbsp;88223 |
| Capitol Federal Financial, Inc. | 13578 | &nbsp;&nbsp;&nbsp;82826 |
| Carter Bankshares, Inc. (A) | &nbsp;&nbsp;1494 | &nbsp;&nbsp;&nbsp;25906 |
| Cathay General Bancorp | &nbsp;&nbsp;6640 | 302319 |
| Central Pacific Financial Corp. | &nbsp;&nbsp;2460 | &nbsp;&nbsp;&nbsp;68954 |
| Chemung Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;723 | &nbsp;&nbsp;&nbsp;35044 |
| ChoiceOne Financial Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;401 | &nbsp;&nbsp;&nbsp;11509 |
| Citizens & Northern Corp. | &nbsp;&nbsp;&nbsp;&nbsp;960 | &nbsp;&nbsp;&nbsp;18182 |
| City Holding Company | &nbsp;&nbsp;&nbsp;&nbsp;102 | &nbsp;&nbsp;&nbsp;12487 |
| Civista Bancshares, Inc. | &nbsp;&nbsp;1114 | &nbsp;&nbsp;&nbsp;25845 |
| CNB Financial Corp. | &nbsp;&nbsp;1562 | &nbsp;&nbsp;&nbsp;35707 |
| Colony Bankcorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;959 | &nbsp;&nbsp;&nbsp;15795 |
| Columbia Banking System, Inc. | 18266 | 427059 |
| Columbia Financial, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;8706 |
| Comerica, Inc. | 11568 | 690031 |
| Community Financial System, Inc. | &nbsp;&nbsp;3533 | 200922 |
| Community Trust Bancorp, Inc. | &nbsp;&nbsp;1985 | 105046 |
| Community West Bancshares | &nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;23412 |
| ConnectOne Bancorp, Inc. | &nbsp;&nbsp;4667 | 108088 |
| Customers Bancorp, Inc. (A) | &nbsp;&nbsp;2981 | 175104 |
| CVB Financial Corp. | 11610 | 229762 |
| Dime Community Bancshares, Inc. | &nbsp;&nbsp;3984 | 107329 |
| Eagle Bancorp, Inc. | &nbsp;&nbsp;3671 | &nbsp;&nbsp;&nbsp;71511 |
| Eastern Bankshares, Inc. | 17813 | 272005 |
| Enterprise Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;446 | &nbsp;&nbsp;&nbsp;17679 |
| Enterprise Financial Services Corp. | &nbsp;&nbsp;3431 | 189048 |
| Equity Bancshares, Inc., Class A | &nbsp;&nbsp;1442 | &nbsp;&nbsp;&nbsp;58834 |
| ESSA Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;897 | &nbsp;&nbsp;&nbsp;17402 |
| Farmers National Banc Corp. | &nbsp;&nbsp;2674 | &nbsp;&nbsp;&nbsp;36874 |
| FB Financial Corp. | &nbsp;&nbsp;4215 | 190940 |
| Financial Institutions, Inc. | &nbsp;&nbsp;1894 | &nbsp;&nbsp;&nbsp;48638 |
| First Bancorp (North Carolina) | &nbsp;&nbsp;3610 | 159165 |
| First Bancorp (Puerto Rico) | 16954 | 353152 |
| First Bank | &nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;13923 |
| First Busey Corp. | &nbsp;&nbsp;7814 | 178823 |
| First Business Financial Services, Inc. | &nbsp;&nbsp;1274 | &nbsp;&nbsp;&nbsp;64541 |
| First Commonwealth Financial Corp. | 10059 | 163258 |
| First Community Bankshares, Inc. | &nbsp;&nbsp;1904 | &nbsp;&nbsp;&nbsp;74580 |
| First Financial Bancorp | &nbsp;&nbsp;9095 | 220645 |
| First Financial Corp. | &nbsp;&nbsp;1325 | &nbsp;&nbsp;&nbsp;71802 |
| First Financial Northwest, Inc. (A)(B) | &nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;616 |
| First Foundation, Inc. (A) | &nbsp;&nbsp;7823 | &nbsp;&nbsp;&nbsp;39897 |
| First Hawaiian, Inc. | 12932 | 322783 |
| First Horizon Corp. | 44104 | 935005 |
| First Internet Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;777 | &nbsp;&nbsp;&nbsp;20901 |
| First Interstate BancSystem, Inc., Class A | &nbsp;&nbsp;8824 | 254308 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Banks (continued)** | **Banks (continued)** |  |
| First Merchants Corp. | &nbsp;&nbsp;4867 | $186406 |
| First Mid Bancshares, Inc. | &nbsp;&nbsp;2091 | &nbsp;&nbsp;&nbsp;78392 |
| First Northwest Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;6160 |
| First Western Financial, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;421 | &nbsp;&nbsp;&nbsp;&nbsp;9498 |
| Firstsun Capital Bancorp (A) | &nbsp;&nbsp;&nbsp;&nbsp;435 | &nbsp;&nbsp;&nbsp;15116 |
| Five Star Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;404 | &nbsp;&nbsp;&nbsp;11530 |
| Flushing Financial Corp. | &nbsp;&nbsp;5162 | &nbsp;&nbsp;&nbsp;61325 |
| FNB Corp. | 31117 | 453686 |
| FS Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;15752 |
| Fulton Financial Corp. | 18051 | 325640 |
| German American Bancorp, Inc. | &nbsp;&nbsp;1684 | &nbsp;&nbsp;&nbsp;64851 |
| Great Southern Bancorp, Inc. | &nbsp;&nbsp;1117 | &nbsp;&nbsp;&nbsp;65657 |
| Guaranty Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;693 | &nbsp;&nbsp;&nbsp;29411 |
| Hancock Whitney Corp. | &nbsp;&nbsp;7556 | 433714 |
| Hanmi Financial Corp. | &nbsp;&nbsp;3548 | &nbsp;&nbsp;&nbsp;87565 |
| HarborOne Bancorp, Inc. | &nbsp;&nbsp;5964 | &nbsp;&nbsp;&nbsp;69660 |
| HBT Financial, Inc. | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;25210 |
| Heritage Commerce Corp. | &nbsp;&nbsp;6790 | &nbsp;&nbsp;&nbsp;67425 |
| Heritage Financial Corp. | &nbsp;&nbsp;3545 | &nbsp;&nbsp;&nbsp;84513 |
| Hilltop Holdings, Inc. | &nbsp;&nbsp;3960 | 120186 |
| Home Bancorp, Inc. | &nbsp;&nbsp;1776 | &nbsp;&nbsp;&nbsp;91961 |
| Home BancShares, Inc. | &nbsp;&nbsp;7494 | 213279 |
| HomeStreet, Inc. (A) | &nbsp;&nbsp;1802 | &nbsp;&nbsp;&nbsp;23552 |
| HomeTrust Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;860 | &nbsp;&nbsp;&nbsp;32173 |
| Hope Bancorp, Inc. | 13236 | 142022 |
| Horizon Bancorp, Inc. | &nbsp;&nbsp;6054 | &nbsp;&nbsp;&nbsp;93111 |
| Independent Bank Corp. (Massachusetts) | &nbsp;&nbsp;3469 | 218148 |
| Independent Bank Corp. (Michigan) | &nbsp;&nbsp;2250 | &nbsp;&nbsp;&nbsp;72923 |
| International Bancshares Corp. | &nbsp;&nbsp;5105 | 339789 |
| Investar Holding Corp. | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;9660 |
| Kearny Financial Corp. | &nbsp;&nbsp;8307 | &nbsp;&nbsp;&nbsp;53663 |
| Lakeland Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;367 | &nbsp;&nbsp;&nbsp;22552 |
| LCNB Corp. | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;8718 |
| Live Oak Bancshares, Inc. | &nbsp;&nbsp;2128 | &nbsp;&nbsp;&nbsp;63414 |
| Mercantile Bank Corp. | &nbsp;&nbsp;1666 | &nbsp;&nbsp;&nbsp;77319 |
| Metrocity Bankshares, Inc. | &nbsp;&nbsp;1116 | &nbsp;&nbsp;&nbsp;31895 |
| Metropolitan Bank Holding Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;854 | &nbsp;&nbsp;&nbsp;59780 |
| Mid Penn Bancorp, Inc. | &nbsp;&nbsp;1196 | &nbsp;&nbsp;&nbsp;33727 |
| Midland States Bancorp, Inc. | &nbsp;&nbsp;1553 | &nbsp;&nbsp;&nbsp;26898 |
| MidWestOne Financial Group, Inc. | &nbsp;&nbsp;1861 | &nbsp;&nbsp;&nbsp;53541 |
| MVB Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;6759 |
| National Bank Holdings Corp., Class A | &nbsp;&nbsp;3153 | 118584 |
| National Bankshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;622 | &nbsp;&nbsp;&nbsp;16918 |
| NBT Bancorp, Inc. | &nbsp;&nbsp;4510 | 187391 |
| Nicolet Bankshares, Inc. | &nbsp;&nbsp;1214 | 149905 |
| Northeast Bank | &nbsp;&nbsp;&nbsp;&nbsp;770 | &nbsp;&nbsp;&nbsp;68522 |
| Northfield Bancorp, Inc. | &nbsp;&nbsp;5738 | &nbsp;&nbsp;&nbsp;65872 |
| Northrim BanCorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;903 | &nbsp;&nbsp;&nbsp;84214 |
| Northwest Bancshares, Inc. | 11024 | 140887 |
| Norwood Financial Corp. | &nbsp;&nbsp;1188 | &nbsp;&nbsp;&nbsp;30627 |
| OceanFirst Financial Corp. | &nbsp;&nbsp;6369 | 112158 |
| OFG Bancorp | &nbsp;&nbsp;4703 | 201288 |
| Old National Bancorp | 24670 | 526458 |
| Old Second Bancorp, Inc. | &nbsp;&nbsp;4574 | &nbsp;&nbsp;&nbsp;81143 |
| OP Bancorp | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;12990 |
| Origin Bancorp, Inc. | &nbsp;&nbsp;2367 | &nbsp;&nbsp;&nbsp;84597 |
| Orrstown Financial Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;15915 |
| Pacific Premier Bancorp, Inc. | 13200 | 278388 |
| Park National Corp. | &nbsp;&nbsp;&nbsp;&nbsp;694 | 116078 |
| Pathward Financial, Inc. | &nbsp;&nbsp;1629 | 128886 |
| PCB Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;836 | &nbsp;&nbsp;&nbsp;17539 |
| Peapack-Gladstone Financial Corp. | &nbsp;&nbsp;1625 | &nbsp;&nbsp;&nbsp;45906 |
| Penns Woods Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;863 | &nbsp;&nbsp;&nbsp;26201 |
| Peoples Bancorp, Inc. | &nbsp;&nbsp;3396 | 103714 |
| Peoples Financial Services Corp. | &nbsp;&nbsp;&nbsp;&nbsp;254 | &nbsp;&nbsp;&nbsp;12540 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 105 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Small Cap Opportunities Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Banks (continued)** | **Banks (continued)** |  |
| Pinnacle Financial Partners, Inc. | &nbsp;&nbsp;2861 | $&nbsp;&nbsp;&nbsp;&nbsp;315883 |
| Popular, Inc. | &nbsp;&nbsp;5879 | &nbsp;&nbsp;&nbsp;&nbsp;647925 |
| Preferred Bank | &nbsp;&nbsp;&nbsp;&nbsp;972 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84122 |
| Primis Financial Corp. | &nbsp;&nbsp;4990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54142 |
| Prosperity Bancshares, Inc. | &nbsp;&nbsp;8207 | &nbsp;&nbsp;&nbsp;&nbsp;576460 |
| Provident Financial Holdings, Inc. | &nbsp;&nbsp;1778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27559 |
| Provident Financial Services, Inc. | 11642 | &nbsp;&nbsp;&nbsp;&nbsp;204084 |
| QCR Holdings, Inc. | &nbsp;&nbsp;1449 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98387 |
| RBB Bancorp | &nbsp;&nbsp;1075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18501 |
| Renasant Corp. | &nbsp;&nbsp;8041 | &nbsp;&nbsp;&nbsp;&nbsp;288913 |
| Republic Bancorp, Inc., Class A | &nbsp;&nbsp;1139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83272 |
| Riverview Bancorp, Inc. | &nbsp;&nbsp;3925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21588 |
| S&T Bancorp, Inc. | &nbsp;&nbsp;3678 | &nbsp;&nbsp;&nbsp;&nbsp;139102 |
| Seacoast Banking Corp. of Florida | &nbsp;&nbsp;4717 | &nbsp;&nbsp;&nbsp;&nbsp;130284 |
| Shore Bancshares, Inc. | &nbsp;&nbsp;3724 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58541 |
| Sierra Bancorp | &nbsp;&nbsp;1759 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52225 |
| Simmons First National Corp., Class A | 11659 | &nbsp;&nbsp;&nbsp;&nbsp;221055 |
| SmartFinancial, Inc. | &nbsp;&nbsp;1186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40063 |
| South Plains Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23606 |
| Southern First Bancshares, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;537 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20422 |
| Southern Missouri Bancorp, Inc. | &nbsp;&nbsp;1012 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55437 |
| Southern States Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;457 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16621 |
| Southside Bancshares, Inc. | &nbsp;&nbsp;1224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36022 |
| SouthState Corp. | &nbsp;&nbsp;7135 | &nbsp;&nbsp;&nbsp;&nbsp;656634 |
| Stellar Bancorp, Inc. | &nbsp;&nbsp;2989 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83632 |
| Stock Yards Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57261 |
| Synovus Financial Corp. | &nbsp;&nbsp;7424 | &nbsp;&nbsp;&nbsp;&nbsp;384192 |
| Texas Capital Bancshares, Inc. (A) | &nbsp;&nbsp;4127 | &nbsp;&nbsp;&nbsp;&nbsp;327684 |
| TFS Financial Corp. | &nbsp;&nbsp;1758 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22766 |
| The Bank of NT Butterfield & Son, Ltd. | &nbsp;&nbsp;2175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96309 |
| The First Bancorp, Inc. | &nbsp;&nbsp;1316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33440 |
| The Hingham Institution for Savings | &nbsp;&nbsp;&nbsp;&nbsp;69 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17136 |
| Third Coast Bancshares, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;881 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28782 |
| Tompkins Financial Corp. | &nbsp;&nbsp;1266 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79416 |
| Towne Bank | &nbsp;&nbsp;6599 | &nbsp;&nbsp;&nbsp;&nbsp;225554 |
| TriCo Bancshares | &nbsp;&nbsp;1995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80778 |
| Triumph Financial, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48221 |
| Trustmark Corp. | &nbsp;&nbsp;6793 | &nbsp;&nbsp;&nbsp;&nbsp;247673 |
| UMB Financial Corp. | &nbsp;&nbsp;4166 | &nbsp;&nbsp;&nbsp;&nbsp;438097 |
| United Bankshares, Inc. | 12184 | &nbsp;&nbsp;&nbsp;&nbsp;443863 |
| United Community Banks, Inc. | 10335 | &nbsp;&nbsp;&nbsp;&nbsp;307880 |
| Unity Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;906 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42654 |
| Univest Financial Corp. | &nbsp;&nbsp;3139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94296 |
| Valley National Bancorp | 49284 | &nbsp;&nbsp;&nbsp;&nbsp;440106 |
| Veritex Holdings, Inc. | &nbsp;&nbsp;5129 | &nbsp;&nbsp;&nbsp;&nbsp;133867 |
| WaFd, Inc. | &nbsp;&nbsp;7756 | &nbsp;&nbsp;&nbsp;&nbsp;227096 |
| Washington Trust Bancorp, Inc. | &nbsp;&nbsp;1795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50763 |
| Webster Financial Corp. | 14613 | &nbsp;&nbsp;&nbsp;&nbsp;797870 |
| WesBanco, Inc. | &nbsp;&nbsp;9275 | &nbsp;&nbsp;&nbsp;&nbsp;293368 |
| Westamerica BanCorp | &nbsp;&nbsp;&nbsp;&nbsp;265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12837 |
| Western Alliance Bancorp | &nbsp;&nbsp;6610 | &nbsp;&nbsp;&nbsp;&nbsp;515448 |
| Western New England Bancorp, Inc. | &nbsp;&nbsp;3609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33311 |
| Wintrust Financial Corp. | &nbsp;&nbsp;3102 | &nbsp;&nbsp;&nbsp;&nbsp;384586 |
| WSFS Financial Corp. | &nbsp;&nbsp;4815 | &nbsp;&nbsp;&nbsp;&nbsp;264825 |
| Zions Bancorp NA | 18822 | &nbsp;&nbsp;&nbsp;&nbsp;977615 |
|  |  | 29143891 |
| **Capital markets – 1.3%** | **Capital markets – 1.3%** |  |
| Affiliated Managers Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;123 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24203 |
| Diamond Hill Investment Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;74 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10753 |
| DigitalBridge Group, Inc. | &nbsp;&nbsp;6789 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70266 |
| Franklin Resources, Inc. | 30786 | &nbsp;&nbsp;&nbsp;&nbsp;734246 |
| Invesco, Ltd. | 41029 | &nbsp;&nbsp;&nbsp;&nbsp;647027 |
| Janus Henderson Group PLC | 13714 | &nbsp;&nbsp;&nbsp;&nbsp;532652 |
| Oppenheimer Holdings, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43934 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Capital markets (continued)** | **Capital markets (continued)** |  |
| Virtus Investment Partners, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;556 | $&nbsp;&nbsp;&nbsp;&nbsp;100858 |
|  |  | 2163939 |
| **Consumer finance – 1.9%** | **Consumer finance – 1.9%** |  |
| Ally Financial, Inc. | 23383 | &nbsp;&nbsp;&nbsp;&nbsp;910768 |
| Atlanticus Holdings Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;705 | &nbsp;&nbsp;&nbsp;&nbsp;38599 |
| Bread Financial Holdings, Inc. | &nbsp;&nbsp;5224 | &nbsp;&nbsp;&nbsp;&nbsp;298395 |
| Consumer Portfolio Services, Inc. (A) | &nbsp;&nbsp;1066 | &nbsp;&nbsp;&nbsp;&nbsp;10479 |
| Encore Capital Group, Inc. (A) | &nbsp;&nbsp;2377 | &nbsp;&nbsp;&nbsp;&nbsp;92014 |
| Enova International, Inc. (A) | &nbsp;&nbsp;2138 | &nbsp;&nbsp;&nbsp;&nbsp;238430 |
| EZCORP, Inc., Class A (A) | &nbsp;&nbsp;6064 | &nbsp;&nbsp;&nbsp;&nbsp;84168 |
| FirstCash Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;602 | &nbsp;&nbsp;&nbsp;&nbsp;81354 |
| Green Dot Corp., Class A (A) | &nbsp;&nbsp;5713 | &nbsp;&nbsp;&nbsp;&nbsp;61586 |
| LendingClub Corp. (A) | &nbsp;&nbsp;9687 | &nbsp;&nbsp;&nbsp;&nbsp;116535 |
| Navient Corp. | 11291 | &nbsp;&nbsp;&nbsp;&nbsp;159203 |
| Nelnet, Inc., Class A | &nbsp;&nbsp;2752 | &nbsp;&nbsp;&nbsp;&nbsp;333322 |
| NerdWallet, Inc., Class A (A) | &nbsp;&nbsp;1415 | &nbsp;&nbsp;&nbsp;&nbsp;15523 |
| Old Market Capital Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;411 |
| OneMain Holdings, Inc. | &nbsp;&nbsp;8783 | &nbsp;&nbsp;&nbsp;&nbsp;500631 |
| Oportun Financial Corp. (A) | &nbsp;&nbsp;1259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9014 |
| PRA Group, Inc. (A) | &nbsp;&nbsp;4305 | &nbsp;&nbsp;&nbsp;&nbsp;63499 |
| PROG Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;757 | &nbsp;&nbsp;&nbsp;&nbsp;22218 |
| Regional Management Corp. | &nbsp;&nbsp;&nbsp;&nbsp;573 | &nbsp;&nbsp;&nbsp;&nbsp;16737 |
| World Acceptance Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;141 | &nbsp;&nbsp;&nbsp;&nbsp;23282 |
|  |  | 3076168 |
| **Financial services – 2.7%** | **Financial services – 2.7%** |  |
| Acacia Research Corp. (A)(C) | &nbsp;&nbsp;5453 | &nbsp;&nbsp;&nbsp;&nbsp;19522 |
| Alerus Financial Corp. | &nbsp;&nbsp;1204 | &nbsp;&nbsp;&nbsp;&nbsp;26055 |
| California First Leasing Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5226 |
| Cass Information Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;338 | &nbsp;&nbsp;&nbsp;&nbsp;14686 |
| Enact Holdings, Inc. | &nbsp;&nbsp;5826 | &nbsp;&nbsp;&nbsp;&nbsp;216436 |
| Essent Group, Ltd. | &nbsp;&nbsp;8696 | &nbsp;&nbsp;&nbsp;&nbsp;528108 |
| Federal Agricultural Mortgage Corp., Class C | &nbsp;&nbsp;&nbsp;&nbsp;898 | &nbsp;&nbsp;&nbsp;&nbsp;174463 |
| Jackson Financial, Inc., Class A | &nbsp;&nbsp;7265 | &nbsp;&nbsp;&nbsp;&nbsp;645059 |
| Merchants Bancorp | &nbsp;&nbsp;2104 | &nbsp;&nbsp;&nbsp;&nbsp;69579 |
| MGIC Investment Corp. | 21346 | &nbsp;&nbsp;&nbsp;&nbsp;594273 |
| Mr. Cooper Group, Inc. (A) | &nbsp;&nbsp;3087 | &nbsp;&nbsp;&nbsp;&nbsp;460611 |
| NMI Holdings, Inc. (A) | &nbsp;&nbsp;7442 | &nbsp;&nbsp;&nbsp;&nbsp;313978 |
| Onity Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;315 | &nbsp;&nbsp;&nbsp;&nbsp;12024 |
| Paysafe, Ltd. (A) | &nbsp;&nbsp;4562 | &nbsp;&nbsp;&nbsp;&nbsp;57572 |
| PennyMac Financial Services, Inc. | &nbsp;&nbsp;4211 | &nbsp;&nbsp;&nbsp;&nbsp;419584 |
| Radian Group, Inc. | &nbsp;&nbsp;9022 | &nbsp;&nbsp;&nbsp;&nbsp;324972 |
| Repay Holdings Corp. (A) | &nbsp;&nbsp;3834 | &nbsp;&nbsp;&nbsp;&nbsp;18480 |
| TrustCo Bank Corp. NY | &nbsp;&nbsp;2163 | &nbsp;&nbsp;&nbsp;&nbsp;72287 |
| Velocity Financial, Inc. (A) | &nbsp;&nbsp;2333 | &nbsp;&nbsp;&nbsp;&nbsp;43254 |
| Voya Financial, Inc. | &nbsp;&nbsp;2868 | &nbsp;&nbsp;&nbsp;&nbsp;203628 |
| Walker & Dunlop, Inc. | &nbsp;&nbsp;1269 | &nbsp;&nbsp;&nbsp;&nbsp;89439 |
| Waterstone Financial, Inc. | &nbsp;&nbsp;3889 | &nbsp;&nbsp;&nbsp;&nbsp;53707 |
|  |  | 4362943 |
| **Insurance – 4.5%** | **Insurance – 4.5%** |  |
| Ambac Financial Group, Inc. (A) | &nbsp;&nbsp;3281 | &nbsp;&nbsp;&nbsp;&nbsp;23295 |
| American Coastal Insurance Corp. | &nbsp;&nbsp;2809 | &nbsp;&nbsp;&nbsp;&nbsp;31236 |
| American Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;75726 |
| Assured Guaranty, Ltd. | &nbsp;&nbsp;3868 | &nbsp;&nbsp;&nbsp;&nbsp;336903 |
| Axis Capital Holdings, Ltd. | &nbsp;&nbsp;4502 | &nbsp;&nbsp;&nbsp;&nbsp;467398 |
| Brighthouse Financial, Inc. (A) | &nbsp;&nbsp;5735 | &nbsp;&nbsp;&nbsp;&nbsp;308371 |
| CNO Financial Group, Inc. | &nbsp;&nbsp;9400 | &nbsp;&nbsp;&nbsp;&nbsp;362652 |
| Donegal Group, Inc., Class A | &nbsp;&nbsp;3869 | &nbsp;&nbsp;&nbsp;&nbsp;77477 |
| Employers Holdings, Inc. | &nbsp;&nbsp;3280 | &nbsp;&nbsp;&nbsp;&nbsp;154750 |
| Enstar Group, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;297 | &nbsp;&nbsp;&nbsp;&nbsp;99899 |
| F&G Annuities & Life, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;827 | &nbsp;&nbsp;&nbsp;&nbsp;26447 |
| Fidelis Insurance Holdings, Ltd. | &nbsp;&nbsp;6979 | &nbsp;&nbsp;&nbsp;&nbsp;115712 |
| First American Financial Corp. | &nbsp;&nbsp;8688 | &nbsp;&nbsp;&nbsp;&nbsp;533356 |
| Fundamental Global, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;732 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 106 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Small Cap Opportunities Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Insurance (continued)** | **Insurance (continued)** |  |
| Genworth Financial, Inc. (A) | 40497 | $&nbsp;&nbsp;&nbsp;&nbsp;315067 |
| Globe Life, Inc. | &nbsp;&nbsp;3948 | &nbsp;&nbsp;&nbsp;&nbsp;490697 |
| Greenlight Capital Re, Ltd., Class A (A) | &nbsp;&nbsp;3417 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49102 |
| Hamilton Insurance Group, Ltd., Class B (A) | &nbsp;&nbsp;1535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33187 |
| Heritage Insurance Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;657 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16386 |
| Horace Mann Educators Corp. | &nbsp;&nbsp;4103 | &nbsp;&nbsp;&nbsp;&nbsp;176306 |
| Investors Title Company | &nbsp;&nbsp;&nbsp;&nbsp;443 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93606 |
| James River Group Holdings, Ltd. | &nbsp;&nbsp;2157 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12640 |
| Kemper Corp. | &nbsp;&nbsp;3443 | &nbsp;&nbsp;&nbsp;&nbsp;222211 |
| Lincoln National Corp. | &nbsp;&nbsp;8927 | &nbsp;&nbsp;&nbsp;&nbsp;308874 |
| Mercury General Corp. | &nbsp;&nbsp;3856 | &nbsp;&nbsp;&nbsp;&nbsp;259663 |
| Old Republic International Corp. | &nbsp;&nbsp;8056 | &nbsp;&nbsp;&nbsp;&nbsp;309673 |
| ProAssurance Corp. (A) | &nbsp;&nbsp;4655 | &nbsp;&nbsp;&nbsp;&nbsp;106274 |
| Reinsurance Group of America, Inc. | &nbsp;&nbsp;2200 | &nbsp;&nbsp;&nbsp;&nbsp;436392 |
| RenaissanceRe Holdings, Ltd. | &nbsp;&nbsp;2743 | &nbsp;&nbsp;&nbsp;&nbsp;666275 |
| Safety Insurance Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;963 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76453 |
| SelectQuote, Inc. (A) | &nbsp;&nbsp;9833 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23403 |
| SiriusPoint, Ltd. (A) | 12227 | &nbsp;&nbsp;&nbsp;&nbsp;249309 |
| Stewart Information Services Corp. | &nbsp;&nbsp;2456 | &nbsp;&nbsp;&nbsp;&nbsp;159886 |
| Tiptree, Inc. | &nbsp;&nbsp;4589 | &nbsp;&nbsp;&nbsp;&nbsp;108209 |
| United Fire Group, Inc. | &nbsp;&nbsp;2109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60528 |
| Universal Insurance Holdings, Inc. | &nbsp;&nbsp;4365 | &nbsp;&nbsp;&nbsp;&nbsp;121041 |
| Unum Group | &nbsp;&nbsp;2552 | &nbsp;&nbsp;&nbsp;&nbsp;206100 |
| White Mountains Insurance Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;185 | &nbsp;&nbsp;&nbsp;&nbsp;332208 |
|  |  | &nbsp;&nbsp;&nbsp;7447444 |
|  |  | 46194385 |
| **Health care – 7.2%** |  |  |
| **Biotechnology – 0.4%** | **Biotechnology – 0.4%** |  |
| Allogene Therapeutics, Inc. (A) | &nbsp;&nbsp;4442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5019 |
| Anika Therapeutics, Inc. (A) | &nbsp;&nbsp;1585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16769 |
| CRISPR Therapeutics AG (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;793 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38572 |
| Cullinan Therapeutics, Inc. (A) | &nbsp;&nbsp;1880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14156 |
| CureVac NV (A)(C) | &nbsp;&nbsp;6804 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36946 |
| Day One Biopharmaceuticals, Inc. (A) | &nbsp;&nbsp;2917 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18961 |
| Dynavax Technologies Corp. (A) | &nbsp;&nbsp;6773 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67188 |
| Editas Medicine, Inc. (A) | &nbsp;&nbsp;4847 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10663 |
| Emergent BioSolutions, Inc. (A) | &nbsp;&nbsp;2676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17073 |
| Intellia Therapeutics, Inc. (A)(C) | &nbsp;&nbsp;1569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14717 |
| iTeos Therapeutics, Inc. (A) | &nbsp;&nbsp;1538 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15334 |
| Kodiak Sciences, Inc. (A) | &nbsp;&nbsp;1185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4420 |
| Myriad Genetics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;781 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4147 |
| Nkarta, Inc. (A) | &nbsp;&nbsp;2121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3521 |
| Organogenesis Holdings, Inc. (A) | &nbsp;&nbsp;6172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22590 |
| PDL BioPharma, Inc. (A)(B) | &nbsp;&nbsp;5434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;869 |
| Prothena Corp. PLC (A) | &nbsp;&nbsp;&nbsp;&nbsp;973 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5906 |
| REGENXBIO, Inc. (A) | &nbsp;&nbsp;1845 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15147 |
| Relay Therapeutics, Inc. (A) | &nbsp;&nbsp;3430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11868 |
| Sage Therapeutics, Inc. (A) | &nbsp;&nbsp;5856 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53407 |
| Tourmaline Bio, Inc. (A) | &nbsp;&nbsp;2485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39735 |
| Vanda Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;4716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22260 |
| Veracyte, Inc. (A) | &nbsp;&nbsp;7060 | &nbsp;&nbsp;&nbsp;&nbsp;190832 |
| Vir Biotechnology, Inc. (A) | &nbsp;&nbsp;4802 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24202 |
| Voyager Therapeutics, Inc. (A) | &nbsp;&nbsp;1361 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4233 |
| Xencor, Inc. (A) | &nbsp;&nbsp;3040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23894 |
| Zymeworks, Inc. (A) | &nbsp;&nbsp;1431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17959 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;700388 |
| **Health care equipment and supplies – 1.5%** | **Health care equipment and supplies – 1.5%** |  |
| AngioDynamics, Inc. (A) | &nbsp;&nbsp;3198 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31724 |
| Avanos Medical, Inc. (A) | &nbsp;&nbsp;5595 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68483 |
| CONMED Corp. | &nbsp;&nbsp;1313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68381 |
| Dentsply Sirona, Inc. | 10075 | &nbsp;&nbsp;&nbsp;&nbsp;159991 |
| Enovis Corp. (A) | &nbsp;&nbsp;6482 | &nbsp;&nbsp;&nbsp;&nbsp;203276 |
| Envista Holdings Corp. (A) | 18106 | &nbsp;&nbsp;&nbsp;&nbsp;353791 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Health care equipment and supplies (continued)** | **Health care equipment and supplies (continued)** |  |
| FONAR Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;463 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6926 |
| Globus Medical, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;173 | &nbsp;&nbsp;&nbsp;&nbsp;10210 |
| ICU Medical, Inc. (A) | &nbsp;&nbsp;1165 | &nbsp;&nbsp;&nbsp;&nbsp;153955 |
| Inogen, Inc. (A) | &nbsp;&nbsp;1678 | &nbsp;&nbsp;&nbsp;&nbsp;11796 |
| Integer Holdings Corp. (A) | &nbsp;&nbsp;1659 | &nbsp;&nbsp;&nbsp;&nbsp;204007 |
| Integra LifeSciences Holdings Corp. (A) | &nbsp;&nbsp;5794 | &nbsp;&nbsp;&nbsp;&nbsp;71092 |
| Kewaunee Scientific Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;83 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4872 |
| LivaNova PLC (A) | &nbsp;&nbsp;2219 | &nbsp;&nbsp;&nbsp;&nbsp;99899 |
| Neogen Corp. (A) | 19887 | &nbsp;&nbsp;&nbsp;&nbsp;95060 |
| Omnicell, Inc. (A) | &nbsp;&nbsp;3918 | &nbsp;&nbsp;&nbsp;&nbsp;115189 |
| OraSure Technologies, Inc. (A) | &nbsp;&nbsp;4040 | &nbsp;&nbsp;&nbsp;&nbsp;12120 |
| Orthofix Medical, Inc. (A) | &nbsp;&nbsp;4028 | &nbsp;&nbsp;&nbsp;&nbsp;44912 |
| OrthoPediatrics Corp. (A) | &nbsp;&nbsp;1896 | &nbsp;&nbsp;&nbsp;&nbsp;40726 |
| QuidelOrtho Corp. (A) | &nbsp;&nbsp;5901 | &nbsp;&nbsp;&nbsp;&nbsp;170067 |
| STAAR Surgical Company (A) | &nbsp;&nbsp;1695 | &nbsp;&nbsp;&nbsp;&nbsp;28442 |
| Tactile Systems Technology, Inc. (A) | &nbsp;&nbsp;1515 | &nbsp;&nbsp;&nbsp;&nbsp;15362 |
| Teleflex, Inc. | &nbsp;&nbsp;3253 | &nbsp;&nbsp;&nbsp;&nbsp;385025 |
| Utah Medical Products, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;289 | &nbsp;&nbsp;&nbsp;&nbsp;16450 |
| Varex Imaging Corp. (A) | &nbsp;&nbsp;4007 | &nbsp;&nbsp;&nbsp;&nbsp;34741 |
| Zimvie, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7274 |
|  |  | 2413771 |
| **Health care providers and services – 1.7%** | **Health care providers and services – 1.7%** |  |
| Acadia Healthcare Company, Inc. (A) | &nbsp;&nbsp;8305 | &nbsp;&nbsp;&nbsp;&nbsp;188440 |
| AdaptHealth Corp. (A) | 10001 | &nbsp;&nbsp;&nbsp;&nbsp;94309 |
| Addus HomeCare Corp. (A) | &nbsp;&nbsp;2156 | &nbsp;&nbsp;&nbsp;&nbsp;248350 |
| Amedisys, Inc. (A) | &nbsp;&nbsp;2199 | &nbsp;&nbsp;&nbsp;&nbsp;216360 |
| Astrana Health, Inc. (A) | &nbsp;&nbsp;1776 | &nbsp;&nbsp;&nbsp;&nbsp;44187 |
| BrightSpring Health Services, Inc. (A) | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;23590 |
| Castle Biosciences, Inc. (A) | &nbsp;&nbsp;2492 | &nbsp;&nbsp;&nbsp;&nbsp;50887 |
| Cross Country Healthcare, Inc. (A) | &nbsp;&nbsp;3819 | &nbsp;&nbsp;&nbsp;&nbsp;49838 |
| Enhabit, Inc. (A) | &nbsp;&nbsp;5906 | &nbsp;&nbsp;&nbsp;&nbsp;56934 |
| Fulgent Genetics, Inc. (A) | &nbsp;&nbsp;4293 | &nbsp;&nbsp;&nbsp;&nbsp;85345 |
| LifeStance Health Group, Inc. (A) | &nbsp;&nbsp;7345 | &nbsp;&nbsp;&nbsp;&nbsp;37974 |
| National HealthCare Corp. | &nbsp;&nbsp;1373 | &nbsp;&nbsp;&nbsp;&nbsp;146925 |
| NeoGenomics, Inc. (A) | 15245 | &nbsp;&nbsp;&nbsp;&nbsp;111441 |
| OPKO Health, Inc. (A) | &nbsp;&nbsp;8398 | &nbsp;&nbsp;&nbsp;&nbsp;11085 |
| Owens & Minor, Inc. (A) | &nbsp;&nbsp;8533 | &nbsp;&nbsp;&nbsp;&nbsp;77650 |
| Pediatrix Medical Group, Inc. (A) | &nbsp;&nbsp;7834 | &nbsp;&nbsp;&nbsp;&nbsp;112418 |
| Premier, Inc., Class A | 10206 | &nbsp;&nbsp;&nbsp;&nbsp;223818 |
| Select Medical Holdings Corp. | &nbsp;&nbsp;8695 | &nbsp;&nbsp;&nbsp;&nbsp;131990 |
| Surgery Partners, Inc. (A) | &nbsp;&nbsp;3883 | &nbsp;&nbsp;&nbsp;&nbsp;86319 |
| Universal Health Services, Inc., Class B | &nbsp;&nbsp;3407 | &nbsp;&nbsp;&nbsp;&nbsp;617178 |
| US Physical Therapy, Inc. | &nbsp;&nbsp;1370 | &nbsp;&nbsp;&nbsp;&nbsp;107134 |
|  |  | 2722172 |
| **Health care technology – 0.2%** | **Health care technology – 0.2%** |  |
| American Well Corp., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4249 |
| Certara, Inc. (A) | &nbsp;&nbsp;9929 | &nbsp;&nbsp;&nbsp;&nbsp;116169 |
| Definitive Healthcare Corp. (A) | &nbsp;&nbsp;1330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5187 |
| Evolent Health, Inc., Class A (A) | &nbsp;&nbsp;1381 | &nbsp;&nbsp;&nbsp;&nbsp;15550 |
| GoodRx Holdings, Inc., Class A (A) | &nbsp;&nbsp;3210 | &nbsp;&nbsp;&nbsp;&nbsp;15986 |
| Health Catalyst, Inc. (A) | &nbsp;&nbsp;2468 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9304 |
| HealthStream, Inc. | &nbsp;&nbsp;2711 | &nbsp;&nbsp;&nbsp;&nbsp;75013 |
| Simulations Plus, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6509 |
| Teladoc Health, Inc. (A) | 14948 | &nbsp;&nbsp;&nbsp;&nbsp;130197 |
| TruBridge, Inc. (A) | &nbsp;&nbsp;1067 | &nbsp;&nbsp;&nbsp;&nbsp;24989 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;403153 |
| **Life sciences tools and services – 1.5%** | **Life sciences tools and services – 1.5%** |  |
| Avantor, Inc. (A) | 28030 | &nbsp;&nbsp;&nbsp;&nbsp;377284 |
| Azenta, Inc. (A) | &nbsp;&nbsp;4127 | &nbsp;&nbsp;&nbsp;&nbsp;127029 |
| BioLife Solutions, Inc. (A) | &nbsp;&nbsp;1269 | &nbsp;&nbsp;&nbsp;&nbsp;27334 |
| Bio-Rad Laboratories, Inc., Class A (A) | &nbsp;&nbsp;1454 | &nbsp;&nbsp;&nbsp;&nbsp;350879 |
| CryoPort, Inc. (A) | &nbsp;&nbsp;1600 | &nbsp;&nbsp;&nbsp;&nbsp;11936 |
| Cytek Biosciences, Inc. (A) | 13243 | &nbsp;&nbsp;&nbsp;&nbsp;45026 |
| ICON PLC (A) | &nbsp;&nbsp;5228 | &nbsp;&nbsp;&nbsp;&nbsp;760413 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 107 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Small Cap Opportunities Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Life sciences tools and services (continued)** | **Life sciences tools and services (continued)** |  |
| MaxCyte, Inc. (A) | &nbsp;&nbsp;3699 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8064 |
| OmniAb, Inc. (A) | &nbsp;&nbsp;6457 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11235 |
| OmniAb, Inc., $12.50 Earnout Shares (A) | &nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161 |
| OmniAb, Inc., $15.00 Earnout Shares (A) | &nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137 |
| Personalis, Inc. (A) | &nbsp;&nbsp;1146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7518 |
| Quanterix Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;851 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5659 |
| Revvity, Inc. | &nbsp;&nbsp;7046 | &nbsp;&nbsp;&nbsp;&nbsp;681489 |
| Seer, Inc. (A) | &nbsp;&nbsp;2095 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4483 |
|  |  | &nbsp;&nbsp;&nbsp;2418647 |
| **Pharmaceuticals – 1.9%** | **Pharmaceuticals – 1.9%** |  |
| Amphastar Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;3557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81669 |
| Cumberland Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;956 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3203 |
| Elanco Animal Health, Inc. (A) | 38843 | &nbsp;&nbsp;&nbsp;&nbsp;554678 |
| Harmony Biosciences Holdings, Inc. (A) | &nbsp;&nbsp;2122 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67055 |
| Innoviva, Inc. (A) | &nbsp;&nbsp;7085 | &nbsp;&nbsp;&nbsp;&nbsp;142338 |
| Jazz Pharmaceuticals PLC (A) | &nbsp;&nbsp;3378 | &nbsp;&nbsp;&nbsp;&nbsp;358473 |
| Ligand Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;1688 | &nbsp;&nbsp;&nbsp;&nbsp;191892 |
| Neumora Therapeutics, Inc. (A) | &nbsp;&nbsp;5323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3903 |
| Nuvation Bio, Inc. (A) | &nbsp;&nbsp;9531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18585 |
| Pacira BioSciences, Inc. (A) | &nbsp;&nbsp;3165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75644 |
| Perrigo Company PLC | 16499 | &nbsp;&nbsp;&nbsp;&nbsp;440853 |
| Phibro Animal Health Corp., Class A | &nbsp;&nbsp;1429 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36497 |
| Pliant Therapeutics, Inc. (A) | &nbsp;&nbsp;1976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2292 |
| Prestige Consumer Healthcare, Inc. (A) | &nbsp;&nbsp;2616 | &nbsp;&nbsp;&nbsp;&nbsp;208888 |
| Rafael Holdings, Inc., Class B (A) | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;865 |
| SIGA Technologies, Inc. | &nbsp;&nbsp;3721 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24261 |
| Supernus Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;5048 | &nbsp;&nbsp;&nbsp;&nbsp;159113 |
| Terns Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;3577 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13342 |
| Viatris, Inc. | 85856 | &nbsp;&nbsp;&nbsp;&nbsp;766694 |
|  |  | &nbsp;&nbsp;&nbsp;3150245 |
|  |  | 11808376 |
| **Industrials – 16.0%** |  |  |
| **Aerospace and defense – 0.5%** | **Aerospace and defense – 0.5%** |  |
| AAR Corp. (A) | &nbsp;&nbsp;3420 | &nbsp;&nbsp;&nbsp;&nbsp;235262 |
| AerSale Corp. (A) | &nbsp;&nbsp;2933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17627 |
| Ducommun, Inc. (A) | &nbsp;&nbsp;1245 | &nbsp;&nbsp;&nbsp;&nbsp;102874 |
| Huntington Ingalls Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;81 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19558 |
| Mercury Systems, Inc. (A) | &nbsp;&nbsp;3834 | &nbsp;&nbsp;&nbsp;&nbsp;206499 |
| National Presto Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;744 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72882 |
| Park Aerospace Corp. | &nbsp;&nbsp;2083 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30766 |
| SIFCO Industries, Inc. (A) | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3730 |
| V2X, Inc. (A) | &nbsp;&nbsp;2053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99673 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;788871 |
| **Air freight and logistics – 0.3%** | **Air freight and logistics – 0.3%** |  |
| GXO Logistics, Inc. (A) | &nbsp;&nbsp;4256 | &nbsp;&nbsp;&nbsp;&nbsp;207267 |
| Hub Group, Inc., Class A | &nbsp;&nbsp;5858 | &nbsp;&nbsp;&nbsp;&nbsp;195833 |
| Radiant Logistics, Inc. (A) | &nbsp;&nbsp;3764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22885 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;425985 |
| **Building products – 1.8%** | **Building products – 1.8%** |  |
| American Woodmark Corp. (A) | &nbsp;&nbsp;2154 | &nbsp;&nbsp;&nbsp;&nbsp;114959 |
| Apogee Enterprises, Inc. | &nbsp;&nbsp;2485 | &nbsp;&nbsp;&nbsp;&nbsp;100891 |
| AZZ, Inc. | &nbsp;&nbsp;1776 | &nbsp;&nbsp;&nbsp;&nbsp;167796 |
| Builders FirstSource, Inc. (A) | &nbsp;&nbsp;4919 | &nbsp;&nbsp;&nbsp;&nbsp;573998 |
| Fortune Brands Innovations, Inc. | &nbsp;&nbsp;6088 | &nbsp;&nbsp;&nbsp;&nbsp;313410 |
| Gibraltar Industries, Inc. (A) | &nbsp;&nbsp;2835 | &nbsp;&nbsp;&nbsp;&nbsp;167265 |
| Hayward Holdings, Inc. (A) | 10454 | &nbsp;&nbsp;&nbsp;&nbsp;144265 |
| Insteel Industries, Inc. | &nbsp;&nbsp;1689 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62848 |
| Janus International Group, Inc. (A) | &nbsp;&nbsp;3334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27139 |
| JELD-WEN Holding, Inc. (A) | &nbsp;&nbsp;4097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16060 |
| Masterbrand, Inc. (A) | &nbsp;&nbsp;9654 | &nbsp;&nbsp;&nbsp;&nbsp;105518 |
| Owens Corning | &nbsp;&nbsp;3779 | &nbsp;&nbsp;&nbsp;&nbsp;519688 |
| Quanex Building Products Corp. | &nbsp;&nbsp;2811 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53128 |
| Resideo Technologies, Inc. (A) | 13667 | &nbsp;&nbsp;&nbsp;&nbsp;301494 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Building products (continued)** | **Building products (continued)** |  |
| UFP Industries, Inc. | &nbsp;&nbsp;2310 | $&nbsp;&nbsp;&nbsp;&nbsp;229522 |
|  |  | 2897981 |
| **Commercial services and supplies – 1.2%** | **Commercial services and supplies – 1.2%** |  |
| ABM Industries, Inc. | &nbsp;&nbsp;5820 | &nbsp;&nbsp;&nbsp;&nbsp;274762 |
| ACCO Brands Corp. | &nbsp;&nbsp;8323 | &nbsp;&nbsp;&nbsp;&nbsp;29796 |
| Acme United Corp. | &nbsp;&nbsp;&nbsp;&nbsp;733 | &nbsp;&nbsp;&nbsp;&nbsp;30383 |
| Brady Corp., Class A | &nbsp;&nbsp;1827 | &nbsp;&nbsp;&nbsp;&nbsp;124181 |
| BrightView Holdings, Inc. (A) | &nbsp;&nbsp;8678 | &nbsp;&nbsp;&nbsp;&nbsp;144489 |
| Civeo Corp. | &nbsp;&nbsp;&nbsp;&nbsp;673 | &nbsp;&nbsp;&nbsp;&nbsp;15540 |
| Deluxe Corp. | &nbsp;&nbsp;4579 | &nbsp;&nbsp;&nbsp;&nbsp;72852 |
| Ennis, Inc. | &nbsp;&nbsp;3253 | &nbsp;&nbsp;&nbsp;&nbsp;59009 |
| Enviri Corp. (A)(C) | &nbsp;&nbsp;9452 | &nbsp;&nbsp;&nbsp;&nbsp;82043 |
| Healthcare Services Group, Inc. (A) | &nbsp;&nbsp;4919 | &nbsp;&nbsp;&nbsp;&nbsp;73933 |
| HNI Corp. | &nbsp;&nbsp;2204 | &nbsp;&nbsp;&nbsp;&nbsp;108393 |
| Interface, Inc. | &nbsp;&nbsp;5284 | &nbsp;&nbsp;&nbsp;&nbsp;110594 |
| MillerKnoll, Inc. | &nbsp;&nbsp;5808 | &nbsp;&nbsp;&nbsp;&nbsp;112791 |
| Montrose Environmental Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;393 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8603 |
| NL Industries, Inc. | &nbsp;&nbsp;3260 | &nbsp;&nbsp;&nbsp;&nbsp;20864 |
| OPENLANE, Inc. (A) | 10424 | &nbsp;&nbsp;&nbsp;&nbsp;254867 |
| Steelcase, Inc., Class A | &nbsp;&nbsp;8290 | &nbsp;&nbsp;&nbsp;&nbsp;86465 |
| UniFirst Corp. | &nbsp;&nbsp;&nbsp;&nbsp;854 | &nbsp;&nbsp;&nbsp;&nbsp;160740 |
| Vestis Corp. | &nbsp;&nbsp;8348 | &nbsp;&nbsp;&nbsp;&nbsp;47834 |
| Virco Manufacturing Corp. | &nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9576 |
| VSE Corp. | &nbsp;&nbsp;1568 | &nbsp;&nbsp;&nbsp;&nbsp;205377 |
|  |  | 2033092 |
| **Construction and engineering – 0.7%** | **Construction and engineering – 0.7%** |  |
| Ameresco, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;921 | &nbsp;&nbsp;&nbsp;&nbsp;13990 |
| Arcosa, Inc. (C) | &nbsp;&nbsp;2760 | &nbsp;&nbsp;&nbsp;&nbsp;239320 |
| Bowman Consulting Group, Ltd. (A) | &nbsp;&nbsp;1047 | &nbsp;&nbsp;&nbsp;&nbsp;30101 |
| Concrete Pumping Holdings, Inc. | &nbsp;&nbsp;2171 | &nbsp;&nbsp;&nbsp;&nbsp;13352 |
| Great Lakes Dredge & Dock Corp. (A) | 10393 | &nbsp;&nbsp;&nbsp;&nbsp;126691 |
| Matrix Service Company (A) | &nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp;14861 |
| NWPX Infrastructure, Inc. (A) | &nbsp;&nbsp;1306 | &nbsp;&nbsp;&nbsp;&nbsp;53559 |
| Orion Group Holdings, Inc. (A) | &nbsp;&nbsp;6515 | &nbsp;&nbsp;&nbsp;&nbsp;59091 |
| Primoris Services Corp. | &nbsp;&nbsp;5264 | &nbsp;&nbsp;&nbsp;&nbsp;410276 |
| Tutor Perini Corp. (A) | &nbsp;&nbsp;5413 | &nbsp;&nbsp;&nbsp;&nbsp;253220 |
|  |  | 1214461 |
| **Electrical equipment – 1.2%** | **Electrical equipment – 1.2%** |  |
| Allient, Inc. | &nbsp;&nbsp;1380 | &nbsp;&nbsp;&nbsp;&nbsp;50108 |
| Atkore, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;417 | &nbsp;&nbsp;&nbsp;&nbsp;29419 |
| Communications Systems, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68 |
| EnerSys | &nbsp;&nbsp;1874 | &nbsp;&nbsp;&nbsp;&nbsp;160733 |
| LSI Industries, Inc. | &nbsp;&nbsp;3947 | &nbsp;&nbsp;&nbsp;&nbsp;67138 |
| Preformed Line Products Company | &nbsp;&nbsp;&nbsp;&nbsp;802 | &nbsp;&nbsp;&nbsp;&nbsp;128168 |
| Regal Rexnord Corp. | &nbsp;&nbsp;5630 | &nbsp;&nbsp;&nbsp;&nbsp;816125 |
| Sensata Technologies Holding PLC | 13837 | &nbsp;&nbsp;&nbsp;&nbsp;416632 |
| Shoals Technologies Group, Inc., Class A (A) | &nbsp;&nbsp;2359 | &nbsp;&nbsp;&nbsp;&nbsp;10026 |
| Sunrun, Inc. (A) | 25574 | &nbsp;&nbsp;&nbsp;&nbsp;209195 |
| Thermon Group Holdings, Inc. (A) | &nbsp;&nbsp;3785 | &nbsp;&nbsp;&nbsp;&nbsp;106283 |
| Ultralife Corp. (A) | &nbsp;&nbsp;1984 | &nbsp;&nbsp;&nbsp;&nbsp;17816 |
|  |  | 2011711 |
| **Ground transportation – 1.9%** | **Ground transportation – 1.9%** |  |
| ArcBest Corp. | &nbsp;&nbsp;2127 | &nbsp;&nbsp;&nbsp;&nbsp;163800 |
| Covenant Logistics Group, Inc. | &nbsp;&nbsp;2928 | &nbsp;&nbsp;&nbsp;&nbsp;70594 |
| FTAI Infrastructure, Inc. | &nbsp;&nbsp;2333 | &nbsp;&nbsp;&nbsp;&nbsp;14395 |
| Heartland Express, Inc. | &nbsp;&nbsp;8010 | &nbsp;&nbsp;&nbsp;&nbsp;69206 |
| Knight-Swift Transportation Holdings, Inc. | 17950 | &nbsp;&nbsp;&nbsp;&nbsp;793929 |
| Marten Transport, Ltd. | &nbsp;&nbsp;7224 | &nbsp;&nbsp;&nbsp;&nbsp;93840 |
| PAMT Corp. (A) | &nbsp;&nbsp;2085 | &nbsp;&nbsp;&nbsp;&nbsp;26834 |
| Ryder System, Inc. | &nbsp;&nbsp;3384 | &nbsp;&nbsp;&nbsp;&nbsp;538056 |
| Saia, Inc. (A) | &nbsp;&nbsp;1285 | &nbsp;&nbsp;&nbsp;&nbsp;352077 |
| Schneider National, Inc., Class B | &nbsp;&nbsp;8309 | &nbsp;&nbsp;&nbsp;&nbsp;200662 |
| U-Haul Holding Company (A)(C) | &nbsp;&nbsp;1626 | &nbsp;&nbsp;&nbsp;&nbsp;98471 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 108 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Small Cap Opportunities Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Ground transportation (continued)** | **Ground transportation (continued)** |  |
| U-Haul Holding Company, Series N | &nbsp;&nbsp;7392 | $&nbsp;&nbsp;&nbsp;&nbsp;401903 |
| Universal Logistics Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;15228 |
| Werner Enterprises, Inc. | &nbsp;&nbsp;6648 | &nbsp;&nbsp;&nbsp;&nbsp;181889 |
|  |  | 3020884 |
| **Machinery – 3.3%** | **Machinery – 3.3%** |  |
| 3D Systems Corp. (A)(C) | &nbsp;&nbsp;5104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7860 |
| AGCO Corp. | &nbsp;&nbsp;5484 | &nbsp;&nbsp;&nbsp;&nbsp;565729 |
| Alamo Group, Inc. | &nbsp;&nbsp;1176 | &nbsp;&nbsp;&nbsp;&nbsp;256815 |
| Albany International Corp., Class A | &nbsp;&nbsp;1243 | &nbsp;&nbsp;&nbsp;&nbsp;87172 |
| Astec Industries, Inc. | &nbsp;&nbsp;2815 | &nbsp;&nbsp;&nbsp;&nbsp;117357 |
| Chart Industries, Inc. (A) | &nbsp;&nbsp;1024 | &nbsp;&nbsp;&nbsp;&nbsp;168602 |
| Columbus McKinnon Corp. | &nbsp;&nbsp;2178 | &nbsp;&nbsp;&nbsp;&nbsp;33258 |
| Commercial Vehicle Group, Inc. (A) | &nbsp;&nbsp;2492 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4137 |
| Douglas Dynamics, Inc. | &nbsp;&nbsp;2021 | &nbsp;&nbsp;&nbsp;&nbsp;59559 |
| Enpro, Inc. | &nbsp;&nbsp;1705 | &nbsp;&nbsp;&nbsp;&nbsp;326593 |
| Gates Industrial Corp. PLC (A) | 10297 | &nbsp;&nbsp;&nbsp;&nbsp;237140 |
| Gencor Industries, Inc. (A) | &nbsp;&nbsp;1462 | &nbsp;&nbsp;&nbsp;&nbsp;20468 |
| Helios Technologies, Inc. | &nbsp;&nbsp;2995 | &nbsp;&nbsp;&nbsp;&nbsp;99943 |
| Hillenbrand, Inc. | &nbsp;&nbsp;4296 | &nbsp;&nbsp;&nbsp;&nbsp;86221 |
| Hillman Solutions Corp. (A) | 17806 | &nbsp;&nbsp;&nbsp;&nbsp;127135 |
| Hurco Companies, Inc. (A) | &nbsp;&nbsp;1054 | &nbsp;&nbsp;&nbsp;&nbsp;19921 |
| Hyster-Yale, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;466 | &nbsp;&nbsp;&nbsp;&nbsp;18537 |
| JBT Marel Corp. | &nbsp;&nbsp;&nbsp;&nbsp;141 | &nbsp;&nbsp;&nbsp;&nbsp;16957 |
| Kennametal, Inc. | &nbsp;&nbsp;9907 | &nbsp;&nbsp;&nbsp;&nbsp;227465 |
| LB Foster Company, Class A (A) | &nbsp;&nbsp;1699 | &nbsp;&nbsp;&nbsp;&nbsp;37157 |
| Lindsay Corp. | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;14425 |
| Luxfer Holdings PLC | &nbsp;&nbsp;1836 | &nbsp;&nbsp;&nbsp;&nbsp;22362 |
| Mayville Engineering Company, Inc. (A) | &nbsp;&nbsp;1096 | &nbsp;&nbsp;&nbsp;&nbsp;17492 |
| Miller Industries, Inc. | &nbsp;&nbsp;1781 | &nbsp;&nbsp;&nbsp;&nbsp;79183 |
| Mueller Industries, Inc. | &nbsp;&nbsp;4250 | &nbsp;&nbsp;&nbsp;&nbsp;337748 |
| NN, Inc. (A) | &nbsp;&nbsp;2376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4990 |
| Oshkosh Corp. | &nbsp;&nbsp;3534 | &nbsp;&nbsp;&nbsp;&nbsp;401250 |
| Park-Ohio Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;749 | &nbsp;&nbsp;&nbsp;&nbsp;13377 |
| Perma-Pipe International Holdings, Inc. (A) | &nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp;25157 |
| Proto Labs, Inc. (A) | &nbsp;&nbsp;2456 | &nbsp;&nbsp;&nbsp;&nbsp;98338 |
| Standex International Corp. | &nbsp;&nbsp;&nbsp;&nbsp;449 | &nbsp;&nbsp;&nbsp;&nbsp;70260 |
| Stanley Black & Decker, Inc. | &nbsp;&nbsp;8163 | &nbsp;&nbsp;&nbsp;&nbsp;553043 |
| Stratasys, Ltd. (A) | &nbsp;&nbsp;1753 | &nbsp;&nbsp;&nbsp;&nbsp;20107 |
| Tennant Company | &nbsp;&nbsp;&nbsp;&nbsp;353 | &nbsp;&nbsp;&nbsp;&nbsp;27350 |
| Terex Corp. | &nbsp;&nbsp;5797 | &nbsp;&nbsp;&nbsp;&nbsp;270662 |
| The Eastern Company | &nbsp;&nbsp;1145 | &nbsp;&nbsp;&nbsp;&nbsp;26129 |
| The Gorman-Rupp Company | &nbsp;&nbsp;1854 | &nbsp;&nbsp;&nbsp;&nbsp;68079 |
| The Greenbrier Companies, Inc. | &nbsp;&nbsp;3130 | &nbsp;&nbsp;&nbsp;&nbsp;144137 |
| The Manitowoc Company, Inc. (A) | &nbsp;&nbsp;4590 | &nbsp;&nbsp;&nbsp;&nbsp;55172 |
| The Shyft Group, Inc. | &nbsp;&nbsp;2902 | &nbsp;&nbsp;&nbsp;&nbsp;36391 |
| The Timken Company | &nbsp;&nbsp;&nbsp;&nbsp;756 | &nbsp;&nbsp;&nbsp;&nbsp;54848 |
| Titan International, Inc. (A) | &nbsp;&nbsp;8125 | &nbsp;&nbsp;&nbsp;&nbsp;83444 |
| Trinity Industries, Inc. | &nbsp;&nbsp;8335 | &nbsp;&nbsp;&nbsp;&nbsp;225128 |
| Twin Disc, Inc. | &nbsp;&nbsp;1650 | &nbsp;&nbsp;&nbsp;&nbsp;14570 |
| Worthington Enterprises, Inc. | &nbsp;&nbsp;3821 | &nbsp;&nbsp;&nbsp;&nbsp;243168 |
|  |  | 5424836 |
| **Marine transportation – 0.5%** | **Marine transportation – 0.5%** |  |
| Costamare Bulkers Holdings, Ltd. (A) | &nbsp;&nbsp;1918 | &nbsp;&nbsp;&nbsp;&nbsp;16629 |
| Costamare, Inc. | 11608 | &nbsp;&nbsp;&nbsp;&nbsp;105749 |
| Genco Shipping & Trading, Ltd. | &nbsp;&nbsp;6585 | &nbsp;&nbsp;&nbsp;&nbsp;86066 |
| Kirby Corp. (A) | &nbsp;&nbsp;2362 | &nbsp;&nbsp;&nbsp;&nbsp;267874 |
| Matson, Inc. | &nbsp;&nbsp;2873 | &nbsp;&nbsp;&nbsp;&nbsp;319909 |
| Pangaea Logistics Solutions, Ltd. | &nbsp;&nbsp;4289 | &nbsp;&nbsp;&nbsp;&nbsp;20158 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;816385 |
| **Passenger airlines – 0.9%** | **Passenger airlines – 0.9%** |  |
| Alaska Air Group, Inc. (A) | 11606 | &nbsp;&nbsp;&nbsp;&nbsp;574265 |
| Allegiant Travel Company (A) | &nbsp;&nbsp;1947 | &nbsp;&nbsp;&nbsp;&nbsp;106988 |
| Blade Air Mobility, Inc. (A) | &nbsp;&nbsp;2974 | &nbsp;&nbsp;&nbsp;&nbsp;11985 |
| Copa Holdings SA, Class A | &nbsp;&nbsp;1569 | &nbsp;&nbsp;&nbsp;&nbsp;172543 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Passenger airlines (continued)** | **Passenger airlines (continued)** |  |
| Frontier Group Holdings, Inc. (A) | &nbsp;&nbsp;7944 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28837 |
| JetBlue Airways Corp. (A) | 42438 | &nbsp;&nbsp;&nbsp;&nbsp;179513 |
| SkyWest, Inc. (A) | &nbsp;&nbsp;3517 | &nbsp;&nbsp;&nbsp;&nbsp;362145 |
| Sun Country Airlines Holdings, Inc. (A) | &nbsp;&nbsp;7681 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90252 |
|  |  | &nbsp;&nbsp;&nbsp;1526528 |
| **Professional services – 1.4%** | **Professional services – 1.4%** |  |
| Alight, Inc., Class A | 47117 | &nbsp;&nbsp;&nbsp;&nbsp;266682 |
| Amentum Holdings, Inc. (A)(C) | &nbsp;&nbsp;3668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86601 |
| Asure Software, Inc. (A) | &nbsp;&nbsp;1391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13576 |
| BGSF, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5096 |
| Clarivate PLC (A) | 55199 | &nbsp;&nbsp;&nbsp;&nbsp;237356 |
| Concentrix Corp. | &nbsp;&nbsp;5815 | &nbsp;&nbsp;&nbsp;&nbsp;307352 |
| Conduent, Inc. (A) | 14444 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38132 |
| Dun & Bradstreet Holdings, Inc. | 16560 | &nbsp;&nbsp;&nbsp;&nbsp;150530 |
| First Advantage Corp. (A) | &nbsp;&nbsp;1878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31194 |
| Genpact, Ltd. | &nbsp;&nbsp;1383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60866 |
| Heidrick & Struggles International, Inc. | &nbsp;&nbsp;1672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76511 |
| IBEX Holdings, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;874 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25433 |
| ICF International, Inc. | &nbsp;&nbsp;1410 | &nbsp;&nbsp;&nbsp;&nbsp;119441 |
| Kelly Services, Inc., Class A | &nbsp;&nbsp;4561 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53409 |
| Korn Ferry | &nbsp;&nbsp;4161 | &nbsp;&nbsp;&nbsp;&nbsp;305126 |
| ManpowerGroup, Inc. | &nbsp;&nbsp;4501 | &nbsp;&nbsp;&nbsp;&nbsp;181840 |
| Maximus, Inc. | &nbsp;&nbsp;2615 | &nbsp;&nbsp;&nbsp;&nbsp;183573 |
| Mistras Group, Inc. (A) | &nbsp;&nbsp;2232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17878 |
| NV5 Global, Inc. (A) | &nbsp;&nbsp;2832 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65391 |
| Resources Connection, Inc. | &nbsp;&nbsp;4120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22124 |
| Science Applications International Corp. | &nbsp;&nbsp;&nbsp;&nbsp;506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56981 |
| TrueBlue, Inc. (A) | &nbsp;&nbsp;3219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20859 |
| Willdan Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25004 |
|  |  | &nbsp;&nbsp;&nbsp;2350955 |
| **Trading companies and distributors – 2.3%** | **Trading companies and distributors – 2.3%** |  |
| Air Lease Corp. | 11269 | &nbsp;&nbsp;&nbsp;&nbsp;659124 |
| BlueLinx Holdings, Inc. (A) | &nbsp;&nbsp;1193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88735 |
| Boise Cascade Company | &nbsp;&nbsp;3402 | &nbsp;&nbsp;&nbsp;&nbsp;295362 |
| Custom Truck One Source, Inc. (A)(C) | &nbsp;&nbsp;9674 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47790 |
| Distribution Solutions Group, Inc. (A) | &nbsp;&nbsp;2214 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60819 |
| DNOW, Inc. (A) | 12468 | &nbsp;&nbsp;&nbsp;&nbsp;184900 |
| DXP Enterprises, Inc. (A) | &nbsp;&nbsp;1440 | &nbsp;&nbsp;&nbsp;&nbsp;126216 |
| GATX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;854 | &nbsp;&nbsp;&nbsp;&nbsp;131140 |
| Global Industrial, Inc. | &nbsp;&nbsp;1726 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46619 |
| GMS, Inc. (A) | &nbsp;&nbsp;2360 | &nbsp;&nbsp;&nbsp;&nbsp;256650 |
| Herc Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;923 | &nbsp;&nbsp;&nbsp;&nbsp;121550 |
| Hudson Technologies, Inc. (A) | &nbsp;&nbsp;2645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21477 |
| McGrath RentCorp | &nbsp;&nbsp;1388 | &nbsp;&nbsp;&nbsp;&nbsp;160952 |
| MRC Global, Inc. (A) | &nbsp;&nbsp;4399 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60310 |
| MSC Industrial Direct Company, Inc., Class A | &nbsp;&nbsp;1510 | &nbsp;&nbsp;&nbsp;&nbsp;128380 |
| NPK International, Inc. (A) | &nbsp;&nbsp;8462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72012 |
| Rush Enterprises, Inc., Class A | &nbsp;&nbsp;5847 | &nbsp;&nbsp;&nbsp;&nbsp;301179 |
| Rush Enterprises, Inc., Class B | &nbsp;&nbsp;1275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66912 |
| Titan Machinery, Inc. (A) | &nbsp;&nbsp;3843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76130 |
| Transcat, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25788 |
| WESCO International, Inc. | &nbsp;&nbsp;3561 | &nbsp;&nbsp;&nbsp;&nbsp;659497 |
| Willis Lease Finance Corp. (C) | &nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92807 |
|  |  | &nbsp;&nbsp;&nbsp;3684349 |
|  |  | 26196038 |
| **Information technology – 7.3%** |  |  |
| **Communications equipment – 0.7%** | **Communications equipment – 0.7%** |  |
| Aviat Networks, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19937 |
| Clearfield, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;468 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20316 |
| Comtech Telecommunications Corp. (A) | &nbsp;&nbsp;2706 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6630 |
| Digi International, Inc. (A) | &nbsp;&nbsp;3664 | &nbsp;&nbsp;&nbsp;&nbsp;127727 |
| Harmonic, Inc. (A) | &nbsp;&nbsp;1656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15682 |
| Juniper Networks, Inc. | &nbsp;&nbsp;4804 | &nbsp;&nbsp;&nbsp;&nbsp;191824 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 109 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Small Cap Opportunities Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Communications equipment (continued)** | **Communications equipment (continued)** |  |
| KVH Industries, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;910 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4850 |
| NETGEAR, Inc. (A) | &nbsp;&nbsp;4983 | &nbsp;&nbsp;&nbsp;&nbsp;144856 |
| NetScout Systems, Inc. (A) | &nbsp;&nbsp;8322 | &nbsp;&nbsp;&nbsp;&nbsp;206469 |
| Optical Cable Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;931 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2653 |
| Ribbon Communications, Inc. (A) | &nbsp;&nbsp;8541 | &nbsp;&nbsp;&nbsp;&nbsp;34249 |
| Viasat, Inc. (A) | 11656 | &nbsp;&nbsp;&nbsp;&nbsp;170178 |
| Viavi Solutions, Inc. (A) | 20125 | &nbsp;&nbsp;&nbsp;&nbsp;202659 |
|  |  | 1148030 |
| **Electronic equipment, instruments and components – 3.9%** | **Electronic equipment, instruments and components – 3.9%** |  |
| Arrow Electronics, Inc. (A) | &nbsp;&nbsp;4682 | &nbsp;&nbsp;&nbsp;&nbsp;596627 |
| Avnet, Inc. | &nbsp;&nbsp;9370 | &nbsp;&nbsp;&nbsp;&nbsp;497360 |
| Bel Fuse, Inc., Class B | &nbsp;&nbsp;1207 | &nbsp;&nbsp;&nbsp;&nbsp;117912 |
| Benchmark Electronics, Inc. | &nbsp;&nbsp;4113 | &nbsp;&nbsp;&nbsp;&nbsp;159708 |
| Coherent Corp. (A) | &nbsp;&nbsp;8270 | &nbsp;&nbsp;&nbsp;&nbsp;737767 |
| Crane NXT Company | &nbsp;&nbsp;2105 | &nbsp;&nbsp;&nbsp;&nbsp;113460 |
| CTS Corp. | &nbsp;&nbsp;2507 | &nbsp;&nbsp;&nbsp;&nbsp;106823 |
| Daktronics, Inc. (A) | &nbsp;&nbsp;6286 | &nbsp;&nbsp;&nbsp;&nbsp;95044 |
| ePlus, Inc. (A) | &nbsp;&nbsp;2935 | &nbsp;&nbsp;&nbsp;&nbsp;211614 |
| FARO Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;684 | &nbsp;&nbsp;&nbsp;&nbsp;30041 |
| Insight Enterprises, Inc. (A) | &nbsp;&nbsp;1140 | &nbsp;&nbsp;&nbsp;&nbsp;157417 |
| IPG Photonics Corp. (A) | &nbsp;&nbsp;3031 | &nbsp;&nbsp;&nbsp;&nbsp;208078 |
| Key Tronic Corp. (A) | &nbsp;&nbsp;1900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5434 |
| Kimball Electronics, Inc. (A) | &nbsp;&nbsp;4385 | &nbsp;&nbsp;&nbsp;&nbsp;84324 |
| Knowles Corp. (A) | &nbsp;&nbsp;9130 | &nbsp;&nbsp;&nbsp;&nbsp;160871 |
| Methode Electronics, Inc. | &nbsp;&nbsp;2971 | &nbsp;&nbsp;&nbsp;&nbsp;28254 |
| Mirion Technologies, Inc. (A) | 12438 | &nbsp;&nbsp;&nbsp;&nbsp;267790 |
| PC Connection, Inc. | &nbsp;&nbsp;2791 | &nbsp;&nbsp;&nbsp;&nbsp;183592 |
| Plexus Corp. (A) | &nbsp;&nbsp;2314 | &nbsp;&nbsp;&nbsp;&nbsp;313107 |
| Powerfleet, Inc. (A) | &nbsp;&nbsp;5161 | &nbsp;&nbsp;&nbsp;&nbsp;22244 |
| RF Industries, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;776 |
| Richardson Electronics, Ltd. | &nbsp;&nbsp;1461 | &nbsp;&nbsp;&nbsp;&nbsp;14099 |
| Rogers Corp. (A) | &nbsp;&nbsp;1493 | &nbsp;&nbsp;&nbsp;&nbsp;102241 |
| Sanmina Corp. (A) | &nbsp;&nbsp;2774 | &nbsp;&nbsp;&nbsp;&nbsp;271380 |
| ScanSource, Inc. (A) | &nbsp;&nbsp;3273 | &nbsp;&nbsp;&nbsp;&nbsp;136844 |
| SmartRent, Inc. (A) | &nbsp;&nbsp;4300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4257 |
| TD SYNNEX Corp. | &nbsp;&nbsp;7604 | 1031863 |
| TTM Technologies, Inc. (A) | 11374 | &nbsp;&nbsp;&nbsp;&nbsp;464287 |
| Vishay Intertechnology, Inc. | 13910 | &nbsp;&nbsp;&nbsp;&nbsp;220891 |
| Vishay Precision Group, Inc. (A) | &nbsp;&nbsp;1686 | &nbsp;&nbsp;&nbsp;&nbsp;47377 |
|  |  | 6391482 |
| **IT services – 0.5%** | **IT services – 0.5%** |  |
| Akamai Technologies, Inc. (A) | &nbsp;&nbsp;3845 | &nbsp;&nbsp;&nbsp;&nbsp;306677 |
| ASGN, Inc. (A) | &nbsp;&nbsp;3833 | &nbsp;&nbsp;&nbsp;&nbsp;191382 |
| DXC Technology Company (A) | 16462 | &nbsp;&nbsp;&nbsp;&nbsp;251704 |
| Fastly, Inc., Class A (A) | 12165 | &nbsp;&nbsp;&nbsp;&nbsp;85885 |
| Globant SA (A) | &nbsp;&nbsp;&nbsp;&nbsp;157 | &nbsp;&nbsp;&nbsp;&nbsp;14262 |
| Grid Dynamics Holdings, Inc. (A) | &nbsp;&nbsp;2685 | &nbsp;&nbsp;&nbsp;&nbsp;31012 |
| Information Services Group, Inc. | &nbsp;&nbsp;4400 | &nbsp;&nbsp;&nbsp;&nbsp;21120 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;902042 |
| **Semiconductors and semiconductor equipment – 1.3%** | **Semiconductors and semiconductor equipment – 1.3%** |  |
| Alpha & Omega Semiconductor, Ltd. (A) | &nbsp;&nbsp;4707 | &nbsp;&nbsp;&nbsp;&nbsp;120782 |
| Amkor Technology, Inc. | 23333 | &nbsp;&nbsp;&nbsp;&nbsp;489760 |
| Amtech Systems, Inc. (A) | &nbsp;&nbsp;2404 | &nbsp;&nbsp;&nbsp;&nbsp;10674 |
| Axcelis Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;13938 |
| CEVA, Inc. (A) | &nbsp;&nbsp;1160 | &nbsp;&nbsp;&nbsp;&nbsp;25497 |
| Cohu, Inc. (A) | &nbsp;&nbsp;5294 | &nbsp;&nbsp;&nbsp;&nbsp;101857 |
| Diodes, Inc. (A) | &nbsp;&nbsp;2878 | &nbsp;&nbsp;&nbsp;&nbsp;152217 |
| FormFactor, Inc. (A) | &nbsp;&nbsp;2780 | &nbsp;&nbsp;&nbsp;&nbsp;95660 |
| Ichor Holdings, Ltd. (A) | &nbsp;&nbsp;4254 | &nbsp;&nbsp;&nbsp;&nbsp;83549 |
| Indie Semiconductor, Inc., Class A (A)(C) | &nbsp;&nbsp;9495 | &nbsp;&nbsp;&nbsp;&nbsp;33802 |
| Kulicke & Soffa Industries, Inc. | &nbsp;&nbsp;5462 | &nbsp;&nbsp;&nbsp;&nbsp;188985 |
| Magnachip Semiconductor Corp. (A) | &nbsp;&nbsp;2526 | &nbsp;&nbsp;&nbsp;&nbsp;10053 |
| MKS, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;245 | &nbsp;&nbsp;&nbsp;&nbsp;24343 |
| Penguin Solutions, Inc. (A) | &nbsp;&nbsp;2704 | &nbsp;&nbsp;&nbsp;&nbsp;53566 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Semiconductors and semiconductor equipment (continued)** | **Semiconductors and semiconductor equipment (continued)** |  |
| Photronics, Inc. (A) | &nbsp;&nbsp;8515 | $&nbsp;&nbsp;&nbsp;&nbsp;160337 |
| Qorvo, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;757 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64277 |
| Skyworks Solutions, Inc. | &nbsp;&nbsp;1877 | &nbsp;&nbsp;&nbsp;&nbsp;139874 |
| Synaptics, Inc. (A) | &nbsp;&nbsp;1653 | &nbsp;&nbsp;&nbsp;&nbsp;107147 |
| Ultra Clean Holdings, Inc. (A) | &nbsp;&nbsp;5478 | &nbsp;&nbsp;&nbsp;&nbsp;123638 |
| Veeco Instruments, Inc. (A) | &nbsp;&nbsp;3352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68113 |
|  |  | &nbsp;&nbsp;&nbsp;2068069 |
| **Software – 0.8%** | **Software – 0.8%** |  |
| Aware, Inc. (A) | &nbsp;&nbsp;2160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4061 |
| BILL Holdings, Inc. (A) | &nbsp;&nbsp;2686 | &nbsp;&nbsp;&nbsp;&nbsp;124254 |
| Bit Digital, Inc. (A)(C) | &nbsp;&nbsp;4280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9373 |
| Cerence, Inc. (A) | &nbsp;&nbsp;2124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21686 |
| CleanSpark, Inc. (A)(C) | 10298 | &nbsp;&nbsp;&nbsp;&nbsp;113587 |
| Consensus Cloud Solutions, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5027 |
| Daily Journal Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17312 |
| E2open Parent Holdings, Inc. (A) | &nbsp;&nbsp;9012 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29109 |
| LiveRamp Holdings, Inc. (A) | &nbsp;&nbsp;5657 | &nbsp;&nbsp;&nbsp;&nbsp;186907 |
| MeridianLink, Inc. (A) | &nbsp;&nbsp;1819 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29522 |
| Mitek Systems, Inc. (A) | &nbsp;&nbsp;3339 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33056 |
| N-able, Inc. (A) | &nbsp;&nbsp;4131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33461 |
| NCino, Inc. (A) | &nbsp;&nbsp;4022 | &nbsp;&nbsp;&nbsp;&nbsp;112495 |
| NCR Voyix Corp. (A) | &nbsp;&nbsp;5833 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68421 |
| Olo, Inc., Class A (A) | &nbsp;&nbsp;8461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75303 |
| ON24, Inc. (A) | &nbsp;&nbsp;2666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14476 |
| OneSpan, Inc. | &nbsp;&nbsp;2351 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39238 |
| Riot Platforms, Inc. (A)(C) | 17946 | &nbsp;&nbsp;&nbsp;&nbsp;202790 |
| Sapiens International Corp. NV | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11700 |
| Verint Systems, Inc. (A) | &nbsp;&nbsp;5292 | &nbsp;&nbsp;&nbsp;&nbsp;104094 |
| Xperi, Inc. (A) | &nbsp;&nbsp;3587 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28373 |
|  |  | &nbsp;&nbsp;&nbsp;1264245 |
| **Technology hardware, storage and peripherals – 0.1%** | **Technology hardware, storage and peripherals – 0.1%** |  |
| AstroNova, Inc. (A) | &nbsp;&nbsp;1439 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16678 |
| Corsair Gaming, Inc. (A) | &nbsp;&nbsp;3313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31242 |
| Diebold Nixdorf, Inc. (A) | &nbsp;&nbsp;1163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64430 |
| Eastman Kodak Company (A)(C) | &nbsp;&nbsp;4412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24928 |
| Xerox Holdings Corp. (C) | 18434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97147 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;234425 |
|  |  | 12008293 |
| **Materials – 6.2%** |  |  |
| **Chemicals – 2.8%** | **Chemicals – 2.8%** |  |
| AdvanSix, Inc. | &nbsp;&nbsp;2915 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69231 |
| Alto Ingredients, Inc. (A) | &nbsp;&nbsp;3300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3795 |
| American Vanguard Corp. (A) | &nbsp;&nbsp;2933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11497 |
| Ashland, Inc. | &nbsp;&nbsp;5724 | &nbsp;&nbsp;&nbsp;&nbsp;287803 |
| Avient Corp. | &nbsp;&nbsp;8252 | &nbsp;&nbsp;&nbsp;&nbsp;266622 |
| Cabot Corp. | &nbsp;&nbsp;2316 | &nbsp;&nbsp;&nbsp;&nbsp;173700 |
| Celanese Corp. | &nbsp;&nbsp;2746 | &nbsp;&nbsp;&nbsp;&nbsp;151936 |
| CF Industries Holdings, Inc. | &nbsp;&nbsp;3805 | &nbsp;&nbsp;&nbsp;&nbsp;350060 |
| Core Molding Technologies, Inc. (A) | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16590 |
| Eastman Chemical Company | &nbsp;&nbsp;5794 | &nbsp;&nbsp;&nbsp;&nbsp;432580 |
| Ecovyst, Inc. (A) | 11000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90530 |
| FMC Corp. | &nbsp;&nbsp;&nbsp;&nbsp;870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36323 |
| HB Fuller Company | &nbsp;&nbsp;2951 | &nbsp;&nbsp;&nbsp;&nbsp;177503 |
| Huntsman Corp. | 15756 | &nbsp;&nbsp;&nbsp;&nbsp;164178 |
| Innospec, Inc. | &nbsp;&nbsp;1905 | &nbsp;&nbsp;&nbsp;&nbsp;160191 |
| Intrepid Potash, Inc. (A) | &nbsp;&nbsp;1117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39910 |
| Koppers Holdings, Inc. | &nbsp;&nbsp;2301 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73977 |
| Kronos Worldwide, Inc. | &nbsp;&nbsp;5645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34999 |
| LSB Industries, Inc. (A) | &nbsp;&nbsp;6523 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50879 |
| Mativ Holdings, Inc. | &nbsp;&nbsp;4760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32463 |
| Minerals Technologies, Inc. | &nbsp;&nbsp;2920 | &nbsp;&nbsp;&nbsp;&nbsp;160804 |
| Olin Corp. | &nbsp;&nbsp;9448 | &nbsp;&nbsp;&nbsp;&nbsp;189810 |
| Orion SA | &nbsp;&nbsp;2110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22134 |
| Perimeter Solutions, Inc. (A) | 10435 | &nbsp;&nbsp;&nbsp;&nbsp;145255 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 110 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Small Cap Opportunities Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Chemicals (continued)** | **Chemicals (continued)** |  |
| Quaker Chemical Corp. | &nbsp;&nbsp;1594 | $&nbsp;&nbsp;&nbsp;&nbsp;178432 |
| Rayonier Advanced Materials, Inc. (A) | &nbsp;&nbsp;4555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17537 |
| Stepan Company | &nbsp;&nbsp;1951 | &nbsp;&nbsp;&nbsp;&nbsp;106486 |
| The Mosaic Company | 25048 | &nbsp;&nbsp;&nbsp;&nbsp;913751 |
| Tronox Holdings PLC | 11977 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60723 |
| Westlake Corp. | &nbsp;&nbsp;2356 | &nbsp;&nbsp;&nbsp;&nbsp;178891 |
|  |  | &nbsp;&nbsp;&nbsp;4598590 |
| **Containers and packaging – 1.0%** | **Containers and packaging – 1.0%** |  |
| Graphic Packaging Holding Company | 17964 | &nbsp;&nbsp;&nbsp;&nbsp;378501 |
| Greif, Inc., Class A | &nbsp;&nbsp;2525 | &nbsp;&nbsp;&nbsp;&nbsp;164100 |
| Greif, Inc., Class B | &nbsp;&nbsp;1013 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69907 |
| Myers Industries, Inc. | &nbsp;&nbsp;4005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58032 |
| O-I Glass, Inc. (A) | 11675 | &nbsp;&nbsp;&nbsp;&nbsp;172090 |
| Ranpak Holdings Corp. (A) | &nbsp;&nbsp;4753 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16968 |
| Silgan Holdings, Inc. | &nbsp;&nbsp;6372 | &nbsp;&nbsp;&nbsp;&nbsp;345235 |
| Sonoco Products Company | &nbsp;&nbsp;4787 | &nbsp;&nbsp;&nbsp;&nbsp;208522 |
| TriMas Corp. | &nbsp;&nbsp;3876 | &nbsp;&nbsp;&nbsp;&nbsp;110892 |
|  |  | &nbsp;&nbsp;&nbsp;1524247 |
| **Metals and mining – 2.3%** | **Metals and mining – 2.3%** |  |
| Alcoa Corp. | 23981 | &nbsp;&nbsp;&nbsp;&nbsp;707679 |
| Alpha Metallurgical Resources, Inc. (A) | &nbsp;&nbsp;1317 | &nbsp;&nbsp;&nbsp;&nbsp;148136 |
| Ampco-Pittsburgh Corp. (A) | &nbsp;&nbsp;1644 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4866 |
| Ascent Industries Company (A) | &nbsp;&nbsp;2209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27855 |
| Century Aluminum Company (A) | &nbsp;&nbsp;5782 | &nbsp;&nbsp;&nbsp;&nbsp;104192 |
| Cleveland-Cliffs, Inc. (A) | 56507 | &nbsp;&nbsp;&nbsp;&nbsp;429453 |
| Coeur Mining, Inc. (A) | 41790 | &nbsp;&nbsp;&nbsp;&nbsp;370259 |
| Commercial Metals Company | 13394 | &nbsp;&nbsp;&nbsp;&nbsp;655101 |
| Compass Minerals International, Inc. (A) | &nbsp;&nbsp;1647 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33088 |
| Friedman Industries, Inc. | &nbsp;&nbsp;1511 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25022 |
| Hecla Mining Company | 51755 | &nbsp;&nbsp;&nbsp;&nbsp;310012 |
| Kaiser Aluminum Corp. | &nbsp;&nbsp;&nbsp;&nbsp;535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42747 |
| Materion Corp. | &nbsp;&nbsp;1671 | &nbsp;&nbsp;&nbsp;&nbsp;132627 |
| McEwen Mining, Inc. (A) | &nbsp;&nbsp;1289 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12387 |
| Metallus, Inc. (A) | &nbsp;&nbsp;5092 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78468 |
| Nexa Resources SA | &nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4464 |
| Olympic Steel, Inc. | &nbsp;&nbsp;2053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66907 |
| Radius Recycling, Inc. | &nbsp;&nbsp;1778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52789 |
| Ramaco Resources, Inc., Class A | &nbsp;&nbsp;4465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58670 |
| Ramaco Resources, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;81 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;663 |
| Ryerson Holding Corp. | &nbsp;&nbsp;2583 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55715 |
| SunCoke Energy, Inc. | &nbsp;&nbsp;7778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66813 |
| Tredegar Corp. (A) | &nbsp;&nbsp;1654 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14555 |
| Warrior Met Coal, Inc. | &nbsp;&nbsp;5808 | &nbsp;&nbsp;&nbsp;&nbsp;266181 |
| Worthington Steel, Inc. | &nbsp;&nbsp;4445 | &nbsp;&nbsp;&nbsp;&nbsp;132594 |
|  |  | &nbsp;&nbsp;&nbsp;3801243 |
| **Paper and forest products – 0.1%** | **Paper and forest products – 0.1%** |  |
| Clearwater Paper Corp. (A) | &nbsp;&nbsp;1597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43502 |
| Magnera Corp. (A) | &nbsp;&nbsp;1313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15861 |
| Mercer International, Inc. | &nbsp;&nbsp;7458 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26103 |
| Resolute Forest Products, Inc. (A)(B) | &nbsp;&nbsp;7541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10708 |
| Sylvamo Corp. | &nbsp;&nbsp;1762 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88276 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;184450 |
|  |  | 10108530 |
| **Real estate – 0.9%** |  |  |
| **Real estate management and development – 0.9%** | **Real estate management and development – 0.9%** |  |
| Anywhere Real Estate, Inc. (A) | &nbsp;&nbsp;9125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33033 |
| Cushman & Wakefield PLC (A) | 20427 | &nbsp;&nbsp;&nbsp;&nbsp;226127 |
| Douglas Elliman, Inc. (A) | &nbsp;&nbsp;6219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14428 |
| Five Point Holdings LLC, Class A (A) | &nbsp;&nbsp;4575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25163 |
| Forestar Group, Inc. (A) | &nbsp;&nbsp;4423 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88460 |
| FRP Holdings, Inc. (A) | &nbsp;&nbsp;1862 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50069 |
| Howard Hughes Holdings, Inc. (A) | &nbsp;&nbsp;3339 | &nbsp;&nbsp;&nbsp;&nbsp;225383 |
| Jones Lang LaSalle, Inc. (A) | &nbsp;&nbsp;1652 | &nbsp;&nbsp;&nbsp;&nbsp;422549 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Real estate management and development (continued)** | **Real estate management and development (continued)** |  |
| Kennedy-Wilson Holdings, Inc. | &nbsp;&nbsp;11933 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81144 |
| Marcus & Millichap, Inc. | &nbsp;&nbsp;&nbsp;4012 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123209 |
| Newmark Group, Inc., Class A | &nbsp;&nbsp;11076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134573 |
| Opendoor Technologies, Inc. (A) | &nbsp;&nbsp;10840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5778 |
| RE/MAX Holdings, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;2193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17939 |
| Seaport Entertainment Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;841 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15760 |
| Stratus Properties, Inc. (A) | &nbsp;&nbsp;&nbsp;1025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19352 |
| Tejon Ranch Company (A) | &nbsp;&nbsp;&nbsp;3096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52508 |
| The RMR Group, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7194 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1542669 |
| **Utilities – 0.3%** |  |  |
| **Electric utilities – 0.0%** | **Electric utilities – 0.0%** |  |
| Genie Energy, Ltd., B Shares | &nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26880 |
| **Gas utilities – 0.2%** | **Gas utilities – 0.2%** |  |
| MDU Resources Group, Inc. | &nbsp;&nbsp;15625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260469 |
| **Independent power and renewable electricity producers –<br> 0.1%** | **Independent power and renewable electricity producers –<br> 0.1%** |  |
| Montauk Renewables, Inc. (A) | &nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4440 |
| Ormat Technologies, Inc. | &nbsp;&nbsp;&nbsp;1772 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148423 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152863 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;440212 |
| TOTAL COMMON STOCKS (Cost $152,659,791) | TOTAL COMMON STOCKS (Cost $152,659,791) | $163555338 |
| **SHORT-TERM INVESTMENTS – 1.6%** | **SHORT-TERM INVESTMENTS – 1.6%** |  |
| **Short-term funds – 1.6%** |  |  |
| John Hancock Collateral Trust, 4.2596% (D)(E) | 184570 | &nbsp;&nbsp;&nbsp;&nbsp;1846141 |
| State Street Institutional U.S. Government Money Market Fund, Premier Class, 4.2560% (D) | 722464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;722464 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $2,568,613) | TOTAL SHORT-TERM INVESTMENTS (Cost $2,568,613) | $&nbsp;&nbsp;&nbsp;&nbsp;2568605 |
| **Total Investments (Small Cap Opportunities Trust)<br> (Cost $155,228,404) – 101.5%** | **Total Investments (Small Cap Opportunities Trust)<br> (Cost $155,228,404) – 101.5%** | $**166123943** |
| **Other assets and liabilities, net – (1.5%)** | **Other assets and liabilities, net – (1.5%)** | &nbsp;&nbsp;&nbsp;**(2399936)** |
| **TOTAL NET ASSETS – 100.0%** | **TOTAL NET ASSETS – 100.0%** | $**163724007** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| ADR | American Depositary Receipt |
| (A) | Non-income producing security. |
| (B) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements. |
| (C) | All or a portion of this security is on loan as of 6-30-25. |
| (D) | The rate shown is the annualized seven-day yield as of 6-30-25. |
| (E) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |

---

#### Small Cap Stock Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS – 98.8%** | **COMMON STOCKS – 98.8%** |  |
| **Communication services – 2.3%** |  |  |
| **Interactive media and services – 1.6%** | **Interactive media and services – 1.6%** |  |
| CarGurus, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85174 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2850774 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 111 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Small Cap Stock Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Interactive media and services (continued)** | **Interactive media and services (continued)** |  |
| Ziff Davis, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52818 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1598801 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4449575 |
| **Media – 0.7%** | **Media – 0.7%** |  |
| Criteo SA, ADR (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1942078 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6391653 |
| **Consumer discretionary – 12.0%** |  |  |
| **Automobile components – 1.7%** | **Automobile components – 1.7%** |  |
| Modine Manufacturing Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29579 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2913532 |
| Visteon Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1787721 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4701253 |
| **Broadline retail – 1.4%** | **Broadline retail – 1.4%** |  |
| Ollie's Bargain Outlet Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3875650 |
| **Diversified consumer services – 2.2%** | **Diversified consumer services – 2.2%** |  |
| H&R Block, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3046669 |
| Stride, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2845288 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5891957 |
| **Hotels, restaurants and leisure – 3.8%** | **Hotels, restaurants and leisure – 3.8%** |  |
| Genius Sports, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;411112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4275565 |
| Life Time Group Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3484007 |
| Sweetgreen, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43171 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;642384 |
| Wingstop, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5768 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1942316 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10344272 |
| **Household durables – 1.3%** | **Household durables – 1.3%** |  |
| Champion Homes, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3576972 |
| **Specialty retail – 1.6%** | **Specialty retail – 1.6%** |  |
| Boot Barn Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4400400 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32790504 |
| **Consumer staples – 1.7%** |  |  |
| **Consumer staples distribution and retail – 0.6%** | **Consumer staples distribution and retail – 0.6%** |  |
| Guardian Pharmacy Services, Inc., Class A (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1541416 |
| **Food products – 0.2%** | **Food products – 0.2%** |  |
| Freshpet, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9832 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;668183 |
| **Personal care products – 0.9%** | **Personal care products – 0.9%** |  |
| BellRing Brands, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43119 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2497884 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4707483 |
| **Energy – 1.8%** |  |  |
| **Energy equipment and services – 0.6%** | **Energy equipment and services – 0.6%** |  |
| Cactus, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1704380 |
| **Oil, gas and consumable fuels – 1.2%** | **Oil, gas and consumable fuels – 1.2%** |  |
| Viper Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3384686 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5089066 |
| **Financials – 8.2%** |  |  |
| **Banks – 1.5%** | **Banks – 1.5%** |  |
| Cadence Bank | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3106409 |
| Seacoast Banking Corp. of Florida | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34926 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;964656 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4071065 |
| **Capital markets – 3.4%** | **Capital markets – 3.4%** |  |
| Hamilton Lane, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26681 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3791904 |
| PJT Partners, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5533280 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9325184 |
| **Financial services – 1.1%** | **Financial services – 1.1%** |  |
| HA Sustainable Infrastructure Capital, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2928841 |
| **Insurance – 2.2%** | **Insurance – 2.2%** |  |
| Beazley PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88737 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1139384 |
| SiriusPoint, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246589 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5027950 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6167334 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22492424 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Health care – 24.6%** |  |  |
| **Biotechnology – 11.9%** | **Biotechnology – 11.9%** |  |
| Akero Therapeutics, Inc. (A) | &nbsp;&nbsp;28760 | $&nbsp;&nbsp;&nbsp;1534634 |
| Amicus Therapeutics, Inc. (A) | 140769 | &nbsp;&nbsp;&nbsp;&nbsp;806606 |
| Apellis Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;21420 | &nbsp;&nbsp;&nbsp;&nbsp;370780 |
| Apogee Therapeutics, Inc. (A) | &nbsp;&nbsp;28083 | &nbsp;&nbsp;&nbsp;1219645 |
| Avidity Biosciences, Inc. (A) | &nbsp;&nbsp;45128 | &nbsp;&nbsp;&nbsp;1281635 |
| Blueprint Medicines Corp. (A) | &nbsp;&nbsp;23173 | &nbsp;&nbsp;&nbsp;2970315 |
| Celldex Therapeutics, Inc. (A) | &nbsp;&nbsp;59309 | &nbsp;&nbsp;&nbsp;1206938 |
| Crinetics Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;54917 | &nbsp;&nbsp;&nbsp;1579413 |
| Cytokinetics, Inc. (A) | &nbsp;&nbsp;32998 | &nbsp;&nbsp;&nbsp;1090254 |
| Disc Medicine, Inc. (A) | &nbsp;&nbsp;27959 | &nbsp;&nbsp;&nbsp;1480709 |
| Insmed, Inc. (A) | &nbsp;&nbsp;44844 | &nbsp;&nbsp;&nbsp;4513100 |
| Janux Therapeutics, Inc. (A) | &nbsp;&nbsp;13779 | &nbsp;&nbsp;&nbsp;&nbsp;318295 |
| Kymera Therapeutics, Inc. (A) | &nbsp;&nbsp;39619 | &nbsp;&nbsp;&nbsp;1728973 |
| Merus NV (A) | &nbsp;&nbsp;22454 | &nbsp;&nbsp;&nbsp;1181080 |
| Nurix Therapeutics, Inc. (A) | &nbsp;&nbsp;21754 | &nbsp;&nbsp;&nbsp;&nbsp;247778 |
| Nuvalent, Inc., Class A (A) | &nbsp;&nbsp;21963 | &nbsp;&nbsp;&nbsp;1675777 |
| Protagonist Therapeutics, Inc. (A) | &nbsp;&nbsp;31358 | &nbsp;&nbsp;&nbsp;1733157 |
| Prothena Corp. PLC (A) | &nbsp;&nbsp;17004 | &nbsp;&nbsp;&nbsp;&nbsp;103214 |
| PTC Therapeutics, Inc. (A) | &nbsp;&nbsp;35658 | &nbsp;&nbsp;&nbsp;1741537 |
| REVOLUTION Medicines, Inc. (A) | &nbsp;&nbsp;65237 | &nbsp;&nbsp;&nbsp;2400069 |
| Scholar Rock Holding Corp. (A) | &nbsp;&nbsp;34068 | &nbsp;&nbsp;&nbsp;1206689 |
| Soleno Therapeutics, Inc. (A) | &nbsp;&nbsp;11454 | &nbsp;&nbsp;&nbsp;&nbsp;959616 |
| Vaxcyte, Inc. (A) | &nbsp;&nbsp;38616 | &nbsp;&nbsp;&nbsp;1255406 |
|  |  | 32605620 |
| **Health care equipment and supplies – 3.9%** | **Health care equipment and supplies – 3.9%** |  |
| Glaukos Corp. (A) | &nbsp;&nbsp;34890 | &nbsp;&nbsp;&nbsp;3603788 |
| Lantheus Holdings, Inc. (A) | &nbsp;&nbsp;25304 | &nbsp;&nbsp;&nbsp;2071385 |
| PROCEPT BioRobotics Corp. (A) | &nbsp;&nbsp;46599 | &nbsp;&nbsp;&nbsp;2684102 |
| TransMedics Group, Inc. (A)(B) | &nbsp;&nbsp;16877 | &nbsp;&nbsp;&nbsp;2261687 |
|  |  | 10620962 |
| **Health care providers and services – 6.8%** | **Health care providers and services – 6.8%** |  |
| Alignment Healthcare, Inc. (A) | 278106 | &nbsp;&nbsp;&nbsp;3893484 |
| GeneDx Holdings Corp. (A) | &nbsp;&nbsp;26683 | &nbsp;&nbsp;&nbsp;2463108 |
| HealthEquity, Inc. (A) | &nbsp;&nbsp;43373 | &nbsp;&nbsp;&nbsp;4543755 |
| Hims & Hers Health, Inc. (A)(B) | &nbsp;&nbsp;75148 | &nbsp;&nbsp;&nbsp;3746128 |
| PACS Group, Inc. (A) | &nbsp;&nbsp;93900 | &nbsp;&nbsp;&nbsp;1213188 |
| The Ensign Group, Inc. | &nbsp;&nbsp;18701 | &nbsp;&nbsp;&nbsp;2884816 |
|  |  | 18744479 |
| **Pharmaceuticals – 2.0%** | **Pharmaceuticals – 2.0%** |  |
| Axsome Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;9296 | &nbsp;&nbsp;&nbsp;&nbsp;970409 |
| Structure Therapeutics, Inc., ADR (A)(B) | &nbsp;&nbsp;25741 | &nbsp;&nbsp;&nbsp;&nbsp;533868 |
| Verona Pharma PLC, ADR (A) | &nbsp;&nbsp;41077 | &nbsp;&nbsp;&nbsp;3885063 |
|  |  | &nbsp;&nbsp;&nbsp;5389340 |
|  |  | 67360401 |
| **Industrials – 26.2%** |  |  |
| **Aerospace and defense – 2.7%** | **Aerospace and defense – 2.7%** |  |
| Curtiss-Wright Corp. | &nbsp;&nbsp;&nbsp;8444 | &nbsp;&nbsp;&nbsp;4125316 |
| StandardAero, Inc. (A) | &nbsp;&nbsp;75009 | &nbsp;&nbsp;&nbsp;2374035 |
| Voyager Technologies, Inc., Class A (A) | &nbsp;&nbsp;26642 | &nbsp;&nbsp;&nbsp;1045699 |
|  |  | &nbsp;&nbsp;&nbsp;7545050 |
| **Building products – 4.7%** | **Building products – 4.7%** |  |
| The AZEK Company, Inc. (A) | 142787 | &nbsp;&nbsp;&nbsp;7760475 |
| Zurn Elkay Water Solutions Corp. | 141332 | &nbsp;&nbsp;&nbsp;5168511 |
|  |  | 12928986 |
| **Commercial services and supplies – 2.3%** | **Commercial services and supplies – 2.3%** |  |
| Casella Waste Systems, Inc., Class A (A) | &nbsp;&nbsp;47604 | &nbsp;&nbsp;&nbsp;5492550 |
| The GEO Group, Inc. (A) | &nbsp;&nbsp;35885 | &nbsp;&nbsp;&nbsp;&nbsp;859446 |
|  |  | &nbsp;&nbsp;&nbsp;6351996 |
| **Construction and engineering – 2.7%** | **Construction and engineering – 2.7%** |  |
| Ameresco, Inc., Class A (A) | 139667 | &nbsp;&nbsp;&nbsp;2121542 |
| Comfort Systems USA, Inc. | &nbsp;&nbsp;&nbsp;3902 | &nbsp;&nbsp;&nbsp;2092291 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 112 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Small Cap Stock Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Construction and engineering (continued)** | **Construction and engineering (continued)** |  |
| Fluor Corp. (A) | &nbsp;&nbsp;60094 | $&nbsp;&nbsp;&nbsp;&nbsp;3081019 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;7294852 |
| **Electrical equipment – 3.1%** | **Electrical equipment – 3.1%** |  |
| Acuity, Inc. | &nbsp;&nbsp;14932 | &nbsp;&nbsp;&nbsp;&nbsp;4454813 |
| NEXTracker, Inc., Class A (A) | &nbsp;&nbsp;62515 | &nbsp;&nbsp;&nbsp;&nbsp;3398941 |
| Shoals Technologies Group, Inc., Class A (A) | 167273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;710910 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;8564664 |
| **Professional services – 6.6%** | **Professional services – 6.6%** |  |
| ExlService Holdings, Inc. (A) | 155133 | &nbsp;&nbsp;&nbsp;&nbsp;6793274 |
| TriNet Group, Inc. | &nbsp;&nbsp;25624 | &nbsp;&nbsp;&nbsp;&nbsp;1874139 |
| Verra Mobility Corp. (A) | 288605 | &nbsp;&nbsp;&nbsp;&nbsp;7327681 |
| WNS Holdings, Ltd. (A) | &nbsp;&nbsp;33302 | &nbsp;&nbsp;&nbsp;&nbsp;2106018 |
|  |  | &nbsp;&nbsp;&nbsp;18101112 |
| **Trading companies and distributors – 4.1%** | **Trading companies and distributors – 4.1%** |  |
| Applied Industrial Technologies, Inc. | &nbsp;&nbsp;17892 | &nbsp;&nbsp;&nbsp;&nbsp;4158995 |
| DXP Enterprises, Inc. (A) | &nbsp;&nbsp;21636 | &nbsp;&nbsp;&nbsp;&nbsp;1896395 |
| Rush Enterprises, Inc., Class A | &nbsp;&nbsp;63921 | &nbsp;&nbsp;&nbsp;&nbsp;3292571 |
| Xometry, Inc., Class A (A) | &nbsp;&nbsp;53908 | &nbsp;&nbsp;&nbsp;&nbsp;1821551 |
|  |  | &nbsp;&nbsp;&nbsp;11169512 |
|  |  | &nbsp;&nbsp;&nbsp;71956172 |
| **Information technology – 16.8%** |  |  |
| **Communications equipment – 1.2%** | **Communications equipment – 1.2%** |  |
| Calix, Inc. (A) | &nbsp;&nbsp;59661 | &nbsp;&nbsp;&nbsp;&nbsp;3173369 |
| **Electronic equipment, instruments and components – 1.8%** | **Electronic equipment, instruments and components – 1.8%** |  |
| Novanta, Inc. (A) | &nbsp;&nbsp;21816 | &nbsp;&nbsp;&nbsp;&nbsp;2812737 |
| PAR Technology Corp. (A) | &nbsp;&nbsp;29767 | &nbsp;&nbsp;&nbsp;&nbsp;2064937 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;4877674 |
| **Semiconductors and semiconductor equipment – 4.8%** | **Semiconductors and semiconductor equipment – 4.8%** |  |
| Credo Technology Group Holding, Ltd. (A) | &nbsp;&nbsp;41067 | &nbsp;&nbsp;&nbsp;&nbsp;3802394 |
| MKS, Inc. | &nbsp;&nbsp;20411 | &nbsp;&nbsp;&nbsp;&nbsp;2028037 |
| SiTime Corp. (A) | &nbsp;&nbsp;28829 | &nbsp;&nbsp;&nbsp;&nbsp;6142883 |
| Universal Display Corp. | &nbsp;&nbsp;&nbsp;7948 | &nbsp;&nbsp;&nbsp;&nbsp;1227648 |
|  |  | &nbsp;&nbsp;&nbsp;13200962 |
| **Software – 9.0%** | **Software – 9.0%** |  |
| Agilysys, Inc. (A) | &nbsp;&nbsp;22275 | &nbsp;&nbsp;&nbsp;&nbsp;2553606 |
| AvePoint, Inc. (A) | 322833 | &nbsp;&nbsp;&nbsp;&nbsp;6233905 |
| Clearwater Analytics Holdings, Inc., Class A (A) | 162462 | &nbsp;&nbsp;&nbsp;&nbsp;3562792 |
| CyberArk Software, Ltd. (A) | &nbsp;&nbsp;17575 | &nbsp;&nbsp;&nbsp;&nbsp;7150916 |
| Freshworks, Inc., Class A (A) | 171812 | &nbsp;&nbsp;&nbsp;&nbsp;2561717 |
| Intapp, Inc. (A) | &nbsp;&nbsp;51074 | &nbsp;&nbsp;&nbsp;&nbsp;2636440 |
|  |  | &nbsp;&nbsp;&nbsp;24699376 |
|  |  | &nbsp;&nbsp;&nbsp;45951381 |
| **Materials – 1.9%** |  |  |
| **Chemicals – 1.9%** | **Chemicals – 1.9%** |  |
| Cabot Corp. | &nbsp;&nbsp;70915 | &nbsp;&nbsp;&nbsp;&nbsp;5318625 |
| **Real estate – 3.3%** |  |  |
| **Health care REITs – 1.7%** | **Health care REITs – 1.7%** |  |
| American Healthcare REIT, Inc. | 126528 | &nbsp;&nbsp;&nbsp;&nbsp;4648639 |
| **Retail REITs – 1.6%** | **Retail REITs – 1.6%** |  |
| Phillips Edison & Company, Inc. | 122732 | &nbsp;&nbsp;&nbsp;&nbsp;4299302 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;8947941 |
| TOTAL COMMON STOCKS (Cost $231,121,354) | TOTAL COMMON STOCKS (Cost $231,121,354) | $271005650 |
| **EXCHANGE-TRADED FUNDS – 0.3%** | **EXCHANGE-TRADED FUNDS – 0.3%** |  |
| iShares Russell 2000 Growth ETF | &nbsp;&nbsp;&nbsp;2881 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;823906 |
| TOTAL EXCHANGE-TRADED FUNDS (Cost $823,906) | TOTAL EXCHANGE-TRADED FUNDS (Cost $823,906) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;823906 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **SHORT-TERM INVESTMENTS – 2.9%** | **SHORT-TERM INVESTMENTS – 2.9%** |  |
| **Short-term funds – 1.6%** |  |  |
| John Hancock Collateral Trust, 4.2596% (C)(D) | &nbsp;&nbsp;432966 | $&nbsp;&nbsp;&nbsp;&nbsp;4330700 |
| **Repurchase agreement – 1.3%** |  |  |
| Societe Generale SA Tri-Party Repurchase Agreement dated 6-30-25 at 4.390% to be repurchased at $3,500,427 on 7-1-25, collateralized by $3,603,300 U.S. Treasury Bonds, 4.750% due 5-15-55 (valued at $3,570,069) | $3500000 | &nbsp;&nbsp;&nbsp;&nbsp;3500000 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $7,830,658) | TOTAL SHORT-TERM INVESTMENTS (Cost $7,830,658) | $&nbsp;&nbsp;&nbsp;&nbsp;7830700 |
| **Total Investments (Small Cap Stock Trust)<br> (Cost $239,775,918) – 102.0%** | **Total Investments (Small Cap Stock Trust)<br> (Cost $239,775,918) – 102.0%** | $**279660256** |
| **Other assets and liabilities, net – (2.0%)** | **Other assets and liabilities, net – (2.0%)** | &nbsp;&nbsp;&nbsp;**(5500481)** |
| **TOTAL NET ASSETS – 100.0%** | **TOTAL NET ASSETS – 100.0%** | $**274159775** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| ADR | American Depositary Receipt |
| (A) | Non-income producing security. |
| (B) | All or a portion of this security is on loan as of 6-30-25. |
| (C) | The rate shown is the annualized seven-day yield as of 6-30-25. |
| (D) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |

---

#### Small Company Value Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS – 98.5%** | **COMMON STOCKS – 98.5%** |  |
| **Communication services – 2.0%** |  |  |
| **Entertainment – 1.1%** | **Entertainment – 1.1%** |  |
| Liberty Media Corp.-Liberty Live, Series C (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10102 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;819878 |
| Madison Square Garden Sports Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;534285 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1354163 |
| **Media – 0.9%** | **Media – 0.9%** |  |
| The New York Times Company, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1080134 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2434297 |
| **Consumer discretionary – 9.6%** |  |  |
| **Automobile components – 1.1%** | **Automobile components – 1.1%** |  |
| Dorman Products, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4292 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;526500 |
| Visteon Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;789318 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1315818 |
| **Broadline retail – 0.3%** | **Broadline retail – 0.3%** |  |
| Savers Value Village, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;369985 |
| **Distributors – 0.2%** | **Distributors – 0.2%** |  |
| Pool Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;783 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228229 |
| **Diversified consumer services – 0.9%** | **Diversified consumer services – 0.9%** |  |
| Strategic Education, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13068 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1112479 |
| **Hotels, restaurants and leisure – 1.6%** | **Hotels, restaurants and leisure – 1.6%** |  |
| Dutch Bros, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8296 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;567198 |
| Marriott Vacations Worldwide Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;559029 |
| Papa John's International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;539466 |
| Wingstop, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;812 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;273433 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1939126 |
| **Household durables – 1.0%** | **Household durables – 1.0%** |  |
| Champion Homes, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5558 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;347986 |
| Meritage Homes Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5374 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;359897 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 113 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Small Company Value Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Household durables (continued)** | **Household durables (continued)** |  |
| Taylor Morrison Home Corp. (A) | &nbsp;&nbsp;8219 | $&nbsp;&nbsp;&nbsp;&nbsp;504811 |
|  |  | &nbsp;&nbsp;&nbsp;1212694 |
| **Leisure products – 0.5%** | **Leisure products – 0.5%** |  |
| Peloton Interactive, Inc., Class A (A) | 96994 | &nbsp;&nbsp;&nbsp;&nbsp;673138 |
| **Specialty retail – 3.0%** | **Specialty retail – 3.0%** |  |
| Abercrombie & Fitch Company, Class A (A) | &nbsp;&nbsp;3641 | &nbsp;&nbsp;&nbsp;&nbsp;301657 |
| Asbury Automotive Group, Inc. (A) | &nbsp;&nbsp;1666 | &nbsp;&nbsp;&nbsp;&nbsp;397408 |
| Boot Barn Holdings, Inc. (A) | &nbsp;&nbsp;2411 | &nbsp;&nbsp;&nbsp;&nbsp;366472 |
| Carvana Company (A) | &nbsp;&nbsp;3610 | &nbsp;&nbsp;&nbsp;1216426 |
| Chewy, Inc., Class A (A) | 11366 | &nbsp;&nbsp;&nbsp;&nbsp;484419 |
| Urban Outfitters, Inc. (A) | &nbsp;&nbsp;6297 | &nbsp;&nbsp;&nbsp;&nbsp;456784 |
| Victoria's Secret & Company (A) | 19184 | &nbsp;&nbsp;&nbsp;&nbsp;355288 |
|  |  | &nbsp;&nbsp;&nbsp;3578454 |
| **Textiles, apparel and luxury goods – 1.0%** | **Textiles, apparel and luxury goods – 1.0%** |  |
| Figs, Inc., Class A (A) | 72437 | &nbsp;&nbsp;&nbsp;&nbsp;408545 |
| Kontoor Brands, Inc. | &nbsp;&nbsp;5894 | &nbsp;&nbsp;&nbsp;&nbsp;388827 |
| Steven Madden, Ltd. | 17340 | &nbsp;&nbsp;&nbsp;&nbsp;415813 |
|  |  | &nbsp;&nbsp;&nbsp;1213185 |
|  |  | 11643108 |
| **Consumer staples – 1.8%** |  |  |
| **Consumer staples distribution and retail – 0.2%** | **Consumer staples distribution and retail – 0.2%** |  |
| Grocery Outlet Holding Corp. (A) | 15654 | &nbsp;&nbsp;&nbsp;&nbsp;194423 |
| **Food products – 1.6%** | **Food products – 1.6%** |  |
| Nomad Foods, Ltd. | 40318 | &nbsp;&nbsp;&nbsp;&nbsp;685003 |
| Post Holdings, Inc. (A) | &nbsp;&nbsp;7810 | &nbsp;&nbsp;&nbsp;&nbsp;851524 |
| TreeHouse Foods, Inc. (A) | 22962 | &nbsp;&nbsp;&nbsp;&nbsp;445922 |
|  |  | &nbsp;&nbsp;&nbsp;1982449 |
|  |  | &nbsp;&nbsp;&nbsp;2176872 |
| **Energy – 6.8%** |  |  |
| **Energy equipment and services – 2.7%** | **Energy equipment and services – 2.7%** |  |
| Cactus, Inc., Class A | 12691 | &nbsp;&nbsp;&nbsp;&nbsp;554851 |
| Enerflex, Ltd. | 91875 | &nbsp;&nbsp;&nbsp;&nbsp;724894 |
| Expro Group Holdings NV (A) | 39757 | &nbsp;&nbsp;&nbsp;&nbsp;341513 |
| Kodiak Gas Services, Inc. | &nbsp;&nbsp;5632 | &nbsp;&nbsp;&nbsp;&nbsp;193009 |
| Noble Corp. PLC | 11207 | &nbsp;&nbsp;&nbsp;&nbsp;297546 |
| TechnipFMC PLC | 33048 | &nbsp;&nbsp;&nbsp;1138173 |
|  |  | &nbsp;&nbsp;&nbsp;3249986 |
| **Oil, gas and consumable fuels – 4.1%** | **Oil, gas and consumable fuels – 4.1%** |  |
| Expand Energy Corp. | &nbsp;&nbsp;7481 | &nbsp;&nbsp;&nbsp;&nbsp;874828 |
| Magnolia Oil & Gas Corp., Class A | 28886 | &nbsp;&nbsp;&nbsp;&nbsp;649357 |
| Matador Resources Company | 25067 | &nbsp;&nbsp;&nbsp;1196197 |
| PBF Energy, Inc., Class A | 23608 | &nbsp;&nbsp;&nbsp;&nbsp;511585 |
| Permian Resources Corp. | 56447 | &nbsp;&nbsp;&nbsp;&nbsp;768808 |
| Range Resources Corp. | 24697 | &nbsp;&nbsp;&nbsp;1004427 |
|  |  | &nbsp;&nbsp;&nbsp;5005202 |
|  |  | &nbsp;&nbsp;&nbsp;8255188 |
| **Financials – 28.4%** |  |  |
| **Banks – 18.6%** | **Banks – 18.6%** |  |
| Banc of California, Inc. | 65177 | &nbsp;&nbsp;&nbsp;&nbsp;915737 |
| BankUnited, Inc. | 21246 | &nbsp;&nbsp;&nbsp;&nbsp;756145 |
| Cathay General Bancorp | 15261 | &nbsp;&nbsp;&nbsp;&nbsp;694833 |
| Coastal Financial Corp. (A) | 10715 | &nbsp;&nbsp;&nbsp;1037962 |
| Columbia Banking System, Inc. | 77961 | &nbsp;&nbsp;&nbsp;1822728 |
| Eastern Bankshares, Inc. | 67123 | &nbsp;&nbsp;&nbsp;1024968 |
| FB Financial Corp. | 27586 | &nbsp;&nbsp;&nbsp;1249646 |
| Flagstar Financial, Inc. | 95868 | &nbsp;&nbsp;&nbsp;1016201 |
| Home BancShares, Inc. | 41421 | &nbsp;&nbsp;&nbsp;1178842 |
| Live Oak Bancshares, Inc. | 30270 | &nbsp;&nbsp;&nbsp;&nbsp;902046 |
| National Bank Holdings Corp., Class A | 20169 | &nbsp;&nbsp;&nbsp;&nbsp;758556 |
| Pinnacle Financial Partners, Inc. | 21252 | &nbsp;&nbsp;&nbsp;2346433 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Banks (continued)** | **Banks (continued)** |  |
| Popular, Inc. | &nbsp;&nbsp;&nbsp;9794 | $&nbsp;&nbsp;&nbsp;1079397 |
| Preferred Bank | &nbsp;&nbsp;&nbsp;8685 | &nbsp;&nbsp;&nbsp;&nbsp;751643 |
| Southern First Bancshares, Inc. (A) | &nbsp;&nbsp;&nbsp;7336 | &nbsp;&nbsp;&nbsp;&nbsp;278988 |
| SouthState Corp. | &nbsp;&nbsp;15911 | &nbsp;&nbsp;&nbsp;1464289 |
| Synovus Financial Corp. | &nbsp;&nbsp;13578 | &nbsp;&nbsp;&nbsp;&nbsp;702662 |
| Texas Capital Bancshares, Inc. (A) | &nbsp;&nbsp;15061 | &nbsp;&nbsp;&nbsp;1195843 |
| Towne Bank | &nbsp;&nbsp;31720 | &nbsp;&nbsp;&nbsp;1084190 |
| Western Alliance Bancorp | &nbsp;&nbsp;17892 | &nbsp;&nbsp;&nbsp;1395218 |
| WSFS Financial Corp. | &nbsp;&nbsp;15138 | &nbsp;&nbsp;&nbsp;&nbsp;832590 |
|  |  | 22488917 |
| **Capital markets – 2.1%** | **Capital markets – 2.1%** |  |
| Etoro Group, Ltd. (A)(B) | &nbsp;&nbsp;&nbsp;4609 | &nbsp;&nbsp;&nbsp;&nbsp;306913 |
| Houlihan Lokey, Inc. | &nbsp;&nbsp;&nbsp;9237 | &nbsp;&nbsp;&nbsp;1662198 |
| StepStone Group, Inc., Class A | &nbsp;&nbsp;&nbsp;9527 | &nbsp;&nbsp;&nbsp;&nbsp;528749 |
|  |  | &nbsp;&nbsp;&nbsp;2497860 |
| **Consumer finance – 0.4%** | **Consumer finance – 0.4%** |  |
| PRA Group, Inc. (A) | &nbsp;&nbsp;34092 | &nbsp;&nbsp;&nbsp;&nbsp;502857 |
| **Financial services – 3.5%** | **Financial services – 3.5%** |  |
| HA Sustainable Infrastructure Capital, Inc. | &nbsp;&nbsp;41304 | &nbsp;&nbsp;&nbsp;1109425 |
| Marqeta, Inc., Class A (A) | 107942 | &nbsp;&nbsp;&nbsp;&nbsp;629302 |
| PennyMac Financial Services, Inc. | &nbsp;&nbsp;18296 | &nbsp;&nbsp;&nbsp;1823013 |
| Walker & Dunlop, Inc. | &nbsp;&nbsp;&nbsp;9664 | &nbsp;&nbsp;&nbsp;&nbsp;681119 |
|  |  | &nbsp;&nbsp;&nbsp;4242859 |
| **Insurance – 3.3%** | **Insurance – 3.3%** |  |
| Goosehead Insurance, Inc., Class A | &nbsp;&nbsp;&nbsp;4778 | &nbsp;&nbsp;&nbsp;&nbsp;504127 |
| Oscar Health, Inc., Class A (A) | &nbsp;&nbsp;36416 | &nbsp;&nbsp;&nbsp;&nbsp;780759 |
| Primerica, Inc. | &nbsp;&nbsp;&nbsp;1772 | &nbsp;&nbsp;&nbsp;&nbsp;484943 |
| RLI Corp. | &nbsp;&nbsp;&nbsp;6347 | &nbsp;&nbsp;&nbsp;&nbsp;458380 |
| Root, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;2738 | &nbsp;&nbsp;&nbsp;&nbsp;350382 |
| Ryan Specialty Holdings, Inc. | &nbsp;&nbsp;14080 | &nbsp;&nbsp;&nbsp;&nbsp;957299 |
| The Baldwin Insurance Group, Inc. (A) | &nbsp;&nbsp;10959 | &nbsp;&nbsp;&nbsp;&nbsp;469155 |
|  |  | &nbsp;&nbsp;&nbsp;4005045 |
| **Mortgage real estate investment trusts – 0.5%** | **Mortgage real estate investment trusts – 0.5%** |  |
| PennyMac Mortgage Investment Trust | &nbsp;&nbsp;45944 | &nbsp;&nbsp;&nbsp;&nbsp;590840 |
|  |  | 34328378 |
| **Health care – 8.4%** |  |  |
| **Biotechnology – 3.3%** | **Biotechnology – 3.3%** |  |
| Apellis Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;4912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85027 |
| Arcellx, Inc. (A) | &nbsp;&nbsp;&nbsp;3646 | &nbsp;&nbsp;&nbsp;&nbsp;240089 |
| Arrowhead Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;126400 |
| Ascendis Pharma A/S, ADR (A) | &nbsp;&nbsp;&nbsp;1937 | &nbsp;&nbsp;&nbsp;&nbsp;334326 |
| Black Diamond Therapeutics, Inc. (A)(B) | &nbsp;&nbsp;45300 | &nbsp;&nbsp;&nbsp;&nbsp;112344 |
| Crinetics Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;5819 | &nbsp;&nbsp;&nbsp;&nbsp;167354 |
| CRISPR Therapeutics AG (A) | &nbsp;&nbsp;&nbsp;3980 | &nbsp;&nbsp;&nbsp;&nbsp;193587 |
| Cytokinetics, Inc. (A) | &nbsp;&nbsp;25388 | &nbsp;&nbsp;&nbsp;&nbsp;838820 |
| Dyne Therapeutics, Inc. (A) | &nbsp;&nbsp;12166 | &nbsp;&nbsp;&nbsp;&nbsp;115820 |
| Immatics NV (A)(B) | &nbsp;&nbsp;56814 | &nbsp;&nbsp;&nbsp;&nbsp;305659 |
| Immunocore Holdings PLC, ADR (A) | &nbsp;&nbsp;15356 | &nbsp;&nbsp;&nbsp;&nbsp;481871 |
| Immunovant, Inc. (A)(B) | &nbsp;&nbsp;10649 | &nbsp;&nbsp;&nbsp;&nbsp;170384 |
| Ionis Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;6443 | &nbsp;&nbsp;&nbsp;&nbsp;254563 |
| Iovance Biotherapeutics, Inc. (A)(B) | &nbsp;&nbsp;18500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31820 |
| Sarepta Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;7002 | &nbsp;&nbsp;&nbsp;&nbsp;119734 |
| Vaxcyte, Inc. (A) | &nbsp;&nbsp;10831 | &nbsp;&nbsp;&nbsp;&nbsp;352116 |
|  |  | &nbsp;&nbsp;&nbsp;3929914 |
| **Health care equipment and supplies – 1.3%** | **Health care equipment and supplies – 1.3%** |  |
| Avanos Medical, Inc. (A) | &nbsp;&nbsp;36124 | &nbsp;&nbsp;&nbsp;&nbsp;442158 |
| Lantheus Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;5912 | &nbsp;&nbsp;&nbsp;&nbsp;483956 |
| QuidelOrtho Corp. (A) | &nbsp;&nbsp;21507 | &nbsp;&nbsp;&nbsp;&nbsp;619832 |
|  |  | &nbsp;&nbsp;&nbsp;1545946 |
| **Health care providers and services – 2.2%** | **Health care providers and services – 2.2%** |  |
| Alignment Healthcare, Inc. (A) | &nbsp;&nbsp;36836 | &nbsp;&nbsp;&nbsp;&nbsp;515704 |
| BrightSpring Health Services, Inc. (A) | &nbsp;&nbsp;21812 | &nbsp;&nbsp;&nbsp;&nbsp;514545 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 114 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Small Company Value Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Health care providers and services (continued)** | **Health care providers and services (continued)** |  |
| Concentra Group Holdings Parent, Inc. | 38430 | $&nbsp;&nbsp;&nbsp;&nbsp;790505 |
| Select Medical Holdings Corp. | &nbsp;&nbsp;7859 | &nbsp;&nbsp;&nbsp;&nbsp;119300 |
| The Ensign Group, Inc. | &nbsp;&nbsp;4914 | &nbsp;&nbsp;&nbsp;&nbsp;758034 |
|  |  | &nbsp;&nbsp;&nbsp;2698088 |
| **Health care technology – 0.5%** | **Health care technology – 0.5%** |  |
| Doximity, Inc., Class A (A) | &nbsp;&nbsp;9802 | &nbsp;&nbsp;&nbsp;&nbsp;601255 |
| **Life sciences tools and services – 0.4%** | **Life sciences tools and services – 0.4%** |  |
| Repligen Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62066 |
| Sotera Health Company (A) | 32860 | &nbsp;&nbsp;&nbsp;&nbsp;365403 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;427469 |
| **Pharmaceuticals – 0.7%** | **Pharmaceuticals – 0.7%** |  |
| Elanco Animal Health, Inc. (A) | 48844 | &nbsp;&nbsp;&nbsp;&nbsp;697492 |
| Perrigo Company PLC | &nbsp;&nbsp;6718 | &nbsp;&nbsp;&nbsp;&nbsp;179505 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;876997 |
|  |  | 10079669 |
| **Industrials – 13.2%** |  |  |
| **Aerospace and defense – 1.0%** | **Aerospace and defense – 1.0%** |  |
| Leonardo DRS, Inc. | 14592 | &nbsp;&nbsp;&nbsp;&nbsp;678236 |
| Mercury Systems, Inc. (A) | &nbsp;&nbsp;9686 | &nbsp;&nbsp;&nbsp;&nbsp;521688 |
|  |  | &nbsp;&nbsp;&nbsp;1199924 |
| **Building products – 1.0%** | **Building products – 1.0%** |  |
| UFP Industries, Inc. | &nbsp;&nbsp;6177 | &nbsp;&nbsp;&nbsp;&nbsp;613747 |
| Zurn Elkay Water Solutions Corp. | 15199 | &nbsp;&nbsp;&nbsp;&nbsp;555827 |
|  |  | &nbsp;&nbsp;&nbsp;1169574 |
| **Commercial services and supplies – 1.8%** | **Commercial services and supplies – 1.8%** |  |
| Casella Waste Systems, Inc., Class A (A) | &nbsp;&nbsp;6814 | &nbsp;&nbsp;&nbsp;&nbsp;786199 |
| MSA Safety, Inc. | &nbsp;&nbsp;2535 | &nbsp;&nbsp;&nbsp;&nbsp;424689 |
| Pitney Bowes, Inc. | 14376 | &nbsp;&nbsp;&nbsp;&nbsp;156842 |
| UniFirst Corp. | &nbsp;&nbsp;1556 | &nbsp;&nbsp;&nbsp;&nbsp;292870 |
| VSE Corp. | &nbsp;&nbsp;4129 | &nbsp;&nbsp;&nbsp;&nbsp;540816 |
|  |  | &nbsp;&nbsp;&nbsp;2201416 |
| **Construction and engineering – 1.2%** | **Construction and engineering – 1.2%** |  |
| Arcosa, Inc. | &nbsp;&nbsp;5747 | &nbsp;&nbsp;&nbsp;&nbsp;498322 |
| Valmont Industries, Inc. | &nbsp;&nbsp;1711 | &nbsp;&nbsp;&nbsp;&nbsp;558761 |
| WillScot Holdings Corp. | 13378 | &nbsp;&nbsp;&nbsp;&nbsp;366557 |
|  |  | &nbsp;&nbsp;&nbsp;1423640 |
| **Electrical equipment – 0.6%** | **Electrical equipment – 0.6%** |  |
| NEXTracker, Inc., Class A (A) | 12927 | &nbsp;&nbsp;&nbsp;&nbsp;702841 |
| **Ground transportation – 0.6%** | **Ground transportation – 0.6%** |  |
| Landstar System, Inc. | &nbsp;&nbsp;5098 | &nbsp;&nbsp;&nbsp;&nbsp;708724 |
| **Machinery – 3.9%** | **Machinery – 3.9%** |  |
| Alamo Group, Inc. | &nbsp;&nbsp;1662 | &nbsp;&nbsp;&nbsp;&nbsp;362948 |
| Crane Company | &nbsp;&nbsp;3485 | &nbsp;&nbsp;&nbsp;&nbsp;661767 |
| Enpro, Inc. | &nbsp;&nbsp;2510 | &nbsp;&nbsp;&nbsp;&nbsp;480791 |
| Esab Corp. | &nbsp;&nbsp;7422 | &nbsp;&nbsp;&nbsp;&nbsp;894722 |
| ESCO Technologies, Inc. | &nbsp;&nbsp;2623 | &nbsp;&nbsp;&nbsp;&nbsp;503275 |
| JBT Marel Corp. | &nbsp;&nbsp;4145 | &nbsp;&nbsp;&nbsp;&nbsp;498478 |
| RBC Bearings, Inc. (A) | &nbsp;&nbsp;2569 | &nbsp;&nbsp;&nbsp;&nbsp;988551 |
| The Shyft Group, Inc. | 30497 | &nbsp;&nbsp;&nbsp;&nbsp;382432 |
|  |  | &nbsp;&nbsp;&nbsp;4772964 |
| **Marine transportation – 0.3%** | **Marine transportation – 0.3%** |  |
| Matson, Inc. | &nbsp;&nbsp;3275 | &nbsp;&nbsp;&nbsp;&nbsp;364671 |
| **Passenger airlines – 0.5%** | **Passenger airlines – 0.5%** |  |
| Allegiant Travel Company (A) | 10657 | &nbsp;&nbsp;&nbsp;&nbsp;585602 |
| **Professional services – 1.2%** | **Professional services – 1.2%** |  |
| FTI Consulting, Inc. (A) | &nbsp;&nbsp;2490 | &nbsp;&nbsp;&nbsp;&nbsp;402135 |
| UL Solutions, Inc., Class A (B) | 11395 | &nbsp;&nbsp;&nbsp;&nbsp;830240 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Professional services (continued)** | **Professional services (continued)** |  |
| Upwork, Inc. (A) | 16445 | $&nbsp;&nbsp;&nbsp;&nbsp;221021 |
|  |  | &nbsp;&nbsp;&nbsp;1453396 |
| **Trading companies and distributors – 1.1%** | **Trading companies and distributors – 1.1%** |  |
| Air Lease Corp. | &nbsp;&nbsp;9678 | &nbsp;&nbsp;&nbsp;&nbsp;566066 |
| Rush Enterprises, Inc., Class A | &nbsp;&nbsp;9345 | &nbsp;&nbsp;&nbsp;&nbsp;481361 |
| SiteOne Landscape Supply, Inc. (A) | &nbsp;&nbsp;2412 | &nbsp;&nbsp;&nbsp;&nbsp;291707 |
|  |  | &nbsp;&nbsp;&nbsp;1339134 |
|  |  | 15921886 |
| **Information technology – 7.2%** |  |  |
| **Communications equipment – 0.6%** | **Communications equipment – 0.6%** |  |
| Viavi Solutions, Inc. (A) | 75056 | &nbsp;&nbsp;&nbsp;&nbsp;755814 |
| **Electronic equipment, instruments and components – 2.5%** | **Electronic equipment, instruments and components – 2.5%** |  |
| Littelfuse, Inc. | &nbsp;&nbsp;3197 | &nbsp;&nbsp;&nbsp;&nbsp;724856 |
| Mirion Technologies, Inc. (A) | 61012 | &nbsp;&nbsp;&nbsp;1313588 |
| PAR Technology Corp. (A) | &nbsp;&nbsp;7662 | &nbsp;&nbsp;&nbsp;&nbsp;531513 |
| TTM Technologies, Inc. (A) | &nbsp;&nbsp;9932 | &nbsp;&nbsp;&nbsp;&nbsp;405424 |
|  |  | &nbsp;&nbsp;&nbsp;2975381 |
| **IT services – 0.3%** | **IT services – 0.3%** |  |
| ASGN, Inc. (A) | &nbsp;&nbsp;3329 | &nbsp;&nbsp;&nbsp;&nbsp;166217 |
| Endava PLC, ADR (A) | 15078 | &nbsp;&nbsp;&nbsp;&nbsp;230995 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;397212 |
| **Semiconductors and semiconductor equipment – 1.6%** | **Semiconductors and semiconductor equipment – 1.6%** |  |
| Allegro MicroSystems, Inc. (A) | 10926 | &nbsp;&nbsp;&nbsp;&nbsp;373560 |
| Entegris, Inc. | &nbsp;&nbsp;1708 | &nbsp;&nbsp;&nbsp;&nbsp;137750 |
| Lattice Semiconductor Corp. (A) | &nbsp;&nbsp;9741 | &nbsp;&nbsp;&nbsp;&nbsp;477212 |
| MACOM Technology Solutions Holdings, Inc. (A) | &nbsp;&nbsp;6130 | &nbsp;&nbsp;&nbsp;&nbsp;878368 |
|  |  | &nbsp;&nbsp;&nbsp;1866890 |
| **Software – 2.2%** | **Software – 2.2%** |  |
| Alarm.com Holdings, Inc. (A) | &nbsp;&nbsp;4102 | &nbsp;&nbsp;&nbsp;&nbsp;232050 |
| Aurora Innovation, Inc. (A) | 42445 | &nbsp;&nbsp;&nbsp;&nbsp;222412 |
| Circle Internet Group, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;783 | &nbsp;&nbsp;&nbsp;&nbsp;141950 |
| i3 Verticals, Inc., Class A (A) | &nbsp;&nbsp;9719 | &nbsp;&nbsp;&nbsp;&nbsp;267078 |
| Intapp, Inc. (A) | &nbsp;&nbsp;5842 | &nbsp;&nbsp;&nbsp;&nbsp;301564 |
| JFrog, Ltd. (A) | 10119 | &nbsp;&nbsp;&nbsp;&nbsp;444022 |
| NCino, Inc. (A) | 21732 | &nbsp;&nbsp;&nbsp;&nbsp;607844 |
| Workiva, Inc. (A) | &nbsp;&nbsp;6622 | &nbsp;&nbsp;&nbsp;&nbsp;453276 |
|  |  | &nbsp;&nbsp;&nbsp;2670196 |
|  |  | &nbsp;&nbsp;&nbsp;8665493 |
| **Materials – 4.5%** |  |  |
| **Chemicals – 1.6%** | **Chemicals – 1.6%** |  |
| Cabot Corp. | &nbsp;&nbsp;5025 | &nbsp;&nbsp;&nbsp;&nbsp;376875 |
| Element Solutions, Inc. | 34291 | &nbsp;&nbsp;&nbsp;&nbsp;776691 |
| HB Fuller Company | &nbsp;&nbsp;6626 | &nbsp;&nbsp;&nbsp;&nbsp;398554 |
| Quaker Chemical Corp. | &nbsp;&nbsp;3160 | &nbsp;&nbsp;&nbsp;&nbsp;353730 |
|  |  | &nbsp;&nbsp;&nbsp;1905850 |
| **Construction materials – 0.3%** | **Construction materials – 0.3%** |  |
| Knife River Corp. (A) | &nbsp;&nbsp;4177 | &nbsp;&nbsp;&nbsp;&nbsp;341010 |
| **Metals and mining – 2.4%** | **Metals and mining – 2.4%** |  |
| Constellium SE (A) | 67845 | &nbsp;&nbsp;&nbsp;&nbsp;902339 |
| IAMGOLD Corp. (New York Stock Exchange) (A) | 33271 | &nbsp;&nbsp;&nbsp;&nbsp;244542 |
| OR Royalties, Inc. (B) | 11694 | &nbsp;&nbsp;&nbsp;&nbsp;300653 |
| Reliance, Inc. | &nbsp;&nbsp;3428 | &nbsp;&nbsp;&nbsp;1076049 |
| Warrior Met Coal, Inc. | &nbsp;&nbsp;8500 | &nbsp;&nbsp;&nbsp;&nbsp;389555 |
|  |  | &nbsp;&nbsp;&nbsp;2913138 |
| **Paper and forest products – 0.2%** | **Paper and forest products – 0.2%** |  |
| West Fraser Timber Company, Ltd. | &nbsp;&nbsp;3620 | &nbsp;&nbsp;&nbsp;&nbsp;265346 |
|  |  | &nbsp;&nbsp;&nbsp;5425344 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 115 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Small Company Value Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Real estate – 10.8%** |  |  |
| **Diversified REITs – 0.9%** | **Diversified REITs – 0.9%** |  |
| Essential Properties Realty Trust, Inc. | &nbsp;&nbsp;32737 | $&nbsp;&nbsp;&nbsp;&nbsp;1044638 |
| **Health care REITs – 0.4%** | **Health care REITs – 0.4%** |  |
| CareTrust REIT, Inc. | &nbsp;&nbsp;15829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;484367 |
| **Hotel and resort REITs – 1.1%** | **Hotel and resort REITs – 1.1%** |  |
| Pebblebrook Hotel Trust | &nbsp;&nbsp;62530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;624675 |
| Ryman Hospitality Properties, Inc. | &nbsp;&nbsp;&nbsp;7256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;715950 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1340625 |
| **Industrial REITs – 1.6%** | **Industrial REITs – 1.6%** |  |
| EastGroup Properties, Inc. | &nbsp;&nbsp;&nbsp;5195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;868188 |
| Terreno Realty Corp. | &nbsp;&nbsp;19018 | &nbsp;&nbsp;&nbsp;&nbsp;1066339 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1934527 |
| **Office REITs – 1.6%** | **Office REITs – 1.6%** |  |
| Highwoods Properties, Inc. | &nbsp;&nbsp;27018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;839990 |
| Hudson Pacific Properties, Inc. (A) | &nbsp;&nbsp;91000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249340 |
| Kilroy Realty Corp. | &nbsp;&nbsp;24376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;836341 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1925671 |
| **Real estate management and development – 0.5%** | **Real estate management and development – 0.5%** |  |
| FirstService Corp. | &nbsp;&nbsp;&nbsp;3485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;608551 |
| **Residential REITs – 1.4%** | **Residential REITs – 1.4%** |  |
| Independence Realty Trust, Inc. | &nbsp;&nbsp;55421 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;980397 |
| UMH Properties, Inc. | &nbsp;&nbsp;43948 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;737887 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1718284 |
| **Retail REITs – 2.1%** | **Retail REITs – 2.1%** |  |
| Curbline Properties Corp. | &nbsp;&nbsp;44089 | &nbsp;&nbsp;&nbsp;&nbsp;1006552 |
| NETSTREIT Corp. | &nbsp;&nbsp;44824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;758870 |
| Saul Centers, Inc. | &nbsp;&nbsp;&nbsp;5042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172134 |
| The Macerich Company | &nbsp;&nbsp;41041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;664043 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2601599 |
| **Specialized REITs – 1.2%** | **Specialized REITs – 1.2%** |  |
| CubeSmart | &nbsp;&nbsp;21331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;906568 |
| Safehold, Inc. | &nbsp;&nbsp;31490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;489984 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1396552 |
|  |  | &nbsp;&nbsp;&nbsp;13054814 |
| **Utilities – 5.8%** |  |  |
| **Electric utilities – 2.9%** | **Electric utilities – 2.9%** |  |
| Hawaiian Electric Industries, Inc. (A) | &nbsp;&nbsp;51368 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;546042 |
| IDACORP, Inc. | &nbsp;&nbsp;&nbsp;7107 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;820503 |
| MGE Energy, Inc. | &nbsp;&nbsp;&nbsp;2251 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199078 |
| OGE Energy Corp. | &nbsp;&nbsp;16585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;736042 |
| TXNM Energy, Inc. | &nbsp;&nbsp;20606 | &nbsp;&nbsp;&nbsp;&nbsp;1160530 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;3462195 |
| **Gas utilities – 2.1%** | **Gas utilities – 2.1%** |  |
| Chesapeake Utilities Corp. | &nbsp;&nbsp;&nbsp;8832 | &nbsp;&nbsp;&nbsp;&nbsp;1061783 |
| ONE Gas, Inc. | &nbsp;&nbsp;14808 | &nbsp;&nbsp;&nbsp;&nbsp;1064103 |
| Southwest Gas Holdings, Inc. | &nbsp;&nbsp;&nbsp;5504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;409443 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2535329 |
| **Water utilities – 0.8%** | **Water utilities – 0.8%** |  |
| California Water Service Group | &nbsp;&nbsp;21886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;995375 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;6992899 |
| TOTAL COMMON STOCKS (Cost $101,060,466) | TOTAL COMMON STOCKS (Cost $101,060,466) | $118977948 |
| **SHORT-TERM INVESTMENTS – 3.1%** | **SHORT-TERM INVESTMENTS – 3.1%** |  |
| **Short-term funds – 3.1%** |  |  |
| John Hancock Collateral Trust, 4.2596% (C)(D) | 222216 | &nbsp;&nbsp;&nbsp;&nbsp;2222693 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **SHORT-TERM INVESTMENTS (continued)** | **SHORT-TERM INVESTMENTS (continued)** |  |
| **Short-term funds (continued)** |  |  |
| State Street Institutional U.S. Government Money Market Fund, Premier Class, 4.2560% (C) | 751990 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;751990 |
| T. Rowe Price Government Reserve Fund, 4.3685% (C) | 834238 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;834238 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $3,808,910) | TOTAL SHORT-TERM INVESTMENTS (Cost $3,808,910) | $&nbsp;&nbsp;&nbsp;&nbsp;3808921 |
| **Total Investments (Small Company Value Trust)<br> (Cost $104,869,376) – 101.6%** | **Total Investments (Small Company Value Trust)<br> (Cost $104,869,376) – 101.6%** | $**122786869** |
| **Other assets and liabilities, net – (1.6%)** | **Other assets and liabilities, net – (1.6%)** | &nbsp;&nbsp;&nbsp;**(1940015)** |
| **TOTAL NET ASSETS – 100.0%** | **TOTAL NET ASSETS – 100.0%** | $**120846854** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| ADR | American Depositary Receipt |
| (A) | Non-income producing security. |
| (B) | All or a portion of this security is on loan as of 6-30-25. |
| (C) | The rate shown is the annualized seven-day yield as of 6-30-25. |
| (D) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |

---

#### Strategic Equity Allocation Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS – 96.4%** | **COMMON STOCKS – 96.4%** |  |
| **Communication services – 7.1%** |  |  |
| **Diversified telecommunication services – 1.0%** | **Diversified telecommunication services – 1.0%** |  |
| Anterix, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2044 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52429 |
| AT&T, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;508056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14703141 |
| ATN International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25496 |
| Bandwidth, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3968 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63091 |
| BT Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;693165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1845705 |
| Cellnex Telecom SA (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2234277 |
| Cogent Communications Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320163 |
| Deutsche Telekom AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14824494 |
| Elisa OYJ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;917261 |
| Frontier Communications Parent, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36363 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1323613 |
| Globalstar, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175448 |
| HKT Trust & HKT, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;439720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;657413 |
| IDT Corp., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163353 |
| Infrastrutture Wireless Italiane SpA (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32438 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;396651 |
| Iridium Communications, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;532772 |
| Koninklijke KPN NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;451229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2201181 |
| Liberty Latin America, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5159 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31470 |
| Liberty Latin America, Ltd., Class C (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113428 |
| Lumen Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;617379 |
| Nippon Telegraph & Telephone Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3467125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3706738 |
| Orange SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3290111 |
| Shenandoah Telecommunications Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105182 |
| Singapore Telecommunications, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;862278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2599584 |
| Swisscom AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2133816 |
| Telecom Italia SpA (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1245085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;615215 |
| Telefonica SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;427641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2250710 |
| Telenor ASA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1112556 |
| Telia Company AB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;273745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;984612 |
| Telstra Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;467118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1489463 |
| Verizon Communications, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;297676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12880441 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72367193 |
| **Entertainment – 1.6%** | **Entertainment – 1.6%** |  |
| AMC Entertainment Holdings, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64614 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200303 |
| Atlanta Braves Holdings, Inc., Series A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73766 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 116 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Entertainment (continued)** | **Entertainment (continued)** |  |
| Atlanta Braves Holdings, Inc., Series C (A) | &nbsp;&nbsp;&nbsp;6363 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;297598 |
| Bollore SE | &nbsp;&nbsp;82117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;516138 |
| Capcom Company, Ltd. | &nbsp;&nbsp;40199 | &nbsp;&nbsp;&nbsp;&nbsp;1372855 |
| Cinemark Holdings, Inc. | &nbsp;&nbsp;15716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;474309 |
| CTS Eventim AG & Company KGaA | &nbsp;&nbsp;&nbsp;7240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900299 |
| CuriosityStream, Inc. | &nbsp;&nbsp;&nbsp;4944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27835 |
| Electronic Arts, Inc. | &nbsp;&nbsp;16112 | &nbsp;&nbsp;&nbsp;&nbsp;2573086 |
| Eventbrite, Inc., Class A (A) | &nbsp;&nbsp;12152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31960 |
| IMAX Corp. (A) | &nbsp;&nbsp;&nbsp;6409 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179196 |
| Konami Group Corp. | &nbsp;&nbsp;11655 | &nbsp;&nbsp;&nbsp;&nbsp;1842675 |
| Lionsgate Studios Corp. (A) | &nbsp;&nbsp;29195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169623 |
| Live Nation Entertainment, Inc. (A) | &nbsp;&nbsp;11128 | &nbsp;&nbsp;&nbsp;&nbsp;1683444 |
| Madison Square Garden Entertainment Corp. (A) | &nbsp;&nbsp;&nbsp;5868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;234544 |
| Netflix, Inc. (A) | &nbsp;&nbsp;30048 | &nbsp;&nbsp;&nbsp;40238178 |
| Nexon Company, Ltd. | &nbsp;&nbsp;38195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;769308 |
| Nintendo Company, Ltd. | 128083 | &nbsp;&nbsp;&nbsp;12299783 |
| Playtika Holding Corp. | &nbsp;&nbsp;&nbsp;8829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41761 |
| Reservoir Media, Inc. (A) | &nbsp;&nbsp;&nbsp;3126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23976 |
| Sea, Ltd., ADR (A) | &nbsp;&nbsp;44386 | &nbsp;&nbsp;&nbsp;&nbsp;7099097 |
| Sphere Entertainment Company (A) | &nbsp;&nbsp;&nbsp;4103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171505 |
| Spotify Technology SA (A) | &nbsp;&nbsp;17814 | &nbsp;&nbsp;&nbsp;13669395 |
| Starz Entertainment Corp. (A) | &nbsp;&nbsp;&nbsp;2131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34245 |
| Take-Two Interactive Software, Inc. (A) | &nbsp;&nbsp;11962 | &nbsp;&nbsp;&nbsp;&nbsp;2904972 |
| The Marcus Corp. | &nbsp;&nbsp;&nbsp;3679 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62028 |
| The Walt Disney Company | 126933 | &nbsp;&nbsp;&nbsp;15740961 |
| TKO Group Holdings, Inc. | &nbsp;&nbsp;&nbsp;4733 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;861169 |
| Toho Company, Ltd. | &nbsp;&nbsp;12983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;765943 |
| Universal Music Group NV | 127657 | &nbsp;&nbsp;&nbsp;&nbsp;4141264 |
| Warner Brothers Discovery, Inc. (A) | 158965 | &nbsp;&nbsp;&nbsp;&nbsp;1821739 |
| Warner Music Group Corp., Class A | &nbsp;&nbsp;23818 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;648802 |
|  |  | 111871757 |
| **Interactive media and services – 3.6%** | **Interactive media and services – 3.6%** |  |
| Alphabet, Inc., Class A | 410930 | &nbsp;&nbsp;&nbsp;72418194 |
| Alphabet, Inc., Class C | 331479 | &nbsp;&nbsp;&nbsp;58801060 |
| Angi, Inc. (A) | &nbsp;&nbsp;&nbsp;6556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100045 |
| Auto Trader Group PLC (B) | 102011 | &nbsp;&nbsp;&nbsp;&nbsp;1155456 |
| Bumble, Inc., Class A (A) | &nbsp;&nbsp;11040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72754 |
| CarGurus, Inc. (A) | &nbsp;&nbsp;12116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405523 |
| Cars.com, Inc. (A) | &nbsp;&nbsp;&nbsp;8686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102929 |
| carsales.com, Ltd. | &nbsp;&nbsp;43822 | &nbsp;&nbsp;&nbsp;&nbsp;1079216 |
| EverQuote, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;4082 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98703 |
| FuboTV, Inc. (A)(C) | &nbsp;&nbsp;49619 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191529 |
| Getty Images Holdings, Inc. (A)(C) | &nbsp;&nbsp;18165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30154 |
| Grindr, Inc. (A) | &nbsp;&nbsp;&nbsp;5014 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113818 |
| LY Corp. | 331996 | &nbsp;&nbsp;&nbsp;&nbsp;1222610 |
| Match Group, Inc. (A) | &nbsp;&nbsp;17314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;534829 |
| MediaAlpha, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;5110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55955 |
| Meta Platforms, Inc., Class A | 153297 | 113146983 |
| Nextdoor Holdings, Inc. (A) | &nbsp;&nbsp;34252 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56858 |
| QuinStreet, Inc. (A) | &nbsp;&nbsp;&nbsp;8144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131118 |
| REA Group, Ltd. | &nbsp;&nbsp;&nbsp;6132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;971056 |
| Rumble, Inc. (A) | &nbsp;&nbsp;11860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106503 |
| Scout24 SE (B) | &nbsp;&nbsp;&nbsp;8702 | &nbsp;&nbsp;&nbsp;&nbsp;1201301 |
| Shutterstock, Inc. | &nbsp;&nbsp;&nbsp;3644 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69090 |
| TripAdvisor, Inc. (A) | &nbsp;&nbsp;17207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;224551 |
| TrueCar, Inc. (A) | &nbsp;&nbsp;12656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24046 |
| Vimeo, Inc. (A) | &nbsp;&nbsp;23945 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96738 |
| VTEX, Class A (A) | &nbsp;&nbsp;&nbsp;9016 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59506 |
| Webtoon Entertainment, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;3109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28230 |
| Yelp, Inc. (A) | &nbsp;&nbsp;&nbsp;9072 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310897 |
| Ziff Davis, Inc. (A) | &nbsp;&nbsp;&nbsp;6254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;189309 |
| ZipRecruiter, Inc., Class A (A) | &nbsp;&nbsp;10542 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52815 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Interactive media and services (continued)** | **Interactive media and services (continued)** |  |
| ZoomInfo Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;42423 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;429321 |
|  |  | 253481097 |
| **Media – 0.4%** | **Media – 0.4%** |  |
| Advantage Solutions, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;15998 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21117 |
| Altice USA, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;39524 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84581 |
| AMC Networks, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;5222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32742 |
| Boston Omaha Corp., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;3650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51246 |
| Cable One, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105253 |
| Charter Communications, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;6739 | &nbsp;&nbsp;&nbsp;&nbsp;2754971 |
| Comcast Corp., Class A | &nbsp;&nbsp;262956 | &nbsp;&nbsp;&nbsp;&nbsp;9384900 |
| Dentsu Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;23131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;512535 |
| EchoStar Corp., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;42016 | &nbsp;&nbsp;&nbsp;&nbsp;1163843 |
| Entravision Communications Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;10914 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25320 |
| Fox Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;15114 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;846989 |
| Fox Corp., Class B | &nbsp;&nbsp;&nbsp;&nbsp;9313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480830 |
| Gambling.com Group, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;2667 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31711 |
| Gannett Company, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;21669 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77575 |
| Gray Media, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59497 |
| Ibotta, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;1970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72102 |
| iHeartMedia, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;19044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33517 |
| Informa PLC | &nbsp;&nbsp;153052 | &nbsp;&nbsp;&nbsp;&nbsp;1694469 |
| Integral Ad Science Holding Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;11398 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94717 |
| John Wiley & Sons, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;6070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270904 |
| Magnite, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;20668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498512 |
| National CineMedia, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;9929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48106 |
| News Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;26634 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;791562 |
| News Corp., Class B | &nbsp;&nbsp;&nbsp;&nbsp;7869 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269985 |
| Nexstar Media Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;4627 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800240 |
| Nexxen International, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;5785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60222 |
| Omnicom Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;991045 |
| Paramount Global, Class B (C) | &nbsp;&nbsp;&nbsp;&nbsp;42490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;548121 |
| Publicis Groupe SA | &nbsp;&nbsp;&nbsp;&nbsp;26557 | &nbsp;&nbsp;&nbsp;&nbsp;2999475 |
| PubMatic, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;6428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79964 |
| Scholastic Corp. | &nbsp;&nbsp;&nbsp;&nbsp;3224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67640 |
| Sinclair, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;5817 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80391 |
| Stagwell, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;17699 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79646 |
| TechTarget, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;4422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34359 |
| TEGNA, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;23271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390022 |
| The EW Scripps Company, Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;9605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28239 |
| The Interpublic Group of Companies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;26106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;639075 |
| The New York Times Company, Class A | &nbsp;&nbsp;&nbsp;&nbsp;26493 | &nbsp;&nbsp;&nbsp;&nbsp;1483078 |
| Thryv Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;5676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69020 |
| WideOpenWest, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;8686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35265 |
| WPP PLC | &nbsp;&nbsp;125173 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;881341 |
|  |  | &nbsp;&nbsp;&nbsp;28674127 |
| **Wireless telecommunication services – 0.5%** | **Wireless telecommunication services – 0.5%** |  |
| Gogo, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;10304 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151263 |
| KDDI Corp. | &nbsp;&nbsp;356045 | &nbsp;&nbsp;&nbsp;&nbsp;6113499 |
| SoftBank Corp. | 3321594 | &nbsp;&nbsp;&nbsp;&nbsp;5144985 |
| SoftBank Group Corp. | &nbsp;&nbsp;110865 | &nbsp;&nbsp;&nbsp;&nbsp;8060551 |
| Spok Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;3192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56435 |
| Tele2 AB, B Shares | &nbsp;&nbsp;&nbsp;&nbsp;63520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;927228 |
| Telephone & Data Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14497 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;515803 |
| T-Mobile US, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;33671 | &nbsp;&nbsp;&nbsp;&nbsp;8022452 |
| Vodafone Group PLC | 2314382 | &nbsp;&nbsp;&nbsp;&nbsp;2477433 |
|  |  | &nbsp;&nbsp;&nbsp;31469649 |
|  |  | 497863823 |
| **Consumer discretionary – 9.9%** |  |  |
| **Automobile components – 0.3%** | **Automobile components – 0.3%** |  |
| Adient PLC (A) | &nbsp;&nbsp;&nbsp;&nbsp;12634 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245858 |
| Aisin Corp. | &nbsp;&nbsp;&nbsp;&nbsp;61015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;780529 |
| American Axle & Manufacturing Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;17657 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72041 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 117 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Automobile components (continued)** | **Automobile components (continued)** |  |
| Aptiv PLC (A) | &nbsp;&nbsp;&nbsp;&nbsp;15373 | $&nbsp;&nbsp;&nbsp;&nbsp;1048746 |
| Autoliv, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11612 | &nbsp;&nbsp;&nbsp;&nbsp;1299383 |
| Bridgestone Corp. (C) | &nbsp;&nbsp;&nbsp;&nbsp;66248 | &nbsp;&nbsp;&nbsp;&nbsp;2709025 |
| Cie Generale des Etablissements Michelin SCA | &nbsp;&nbsp;&nbsp;&nbsp;77793 | &nbsp;&nbsp;&nbsp;&nbsp;2893449 |
| Continental AG | &nbsp;&nbsp;&nbsp;&nbsp;12763 | &nbsp;&nbsp;&nbsp;&nbsp;1113926 |
| Cooper-Standard Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;2606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56029 |
| Dana, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;19598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;336106 |
| Denso Corp. | &nbsp;&nbsp;219543 | &nbsp;&nbsp;&nbsp;&nbsp;2962795 |
| Dorman Products, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;4086 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;501230 |
| Fox Factory Holding Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;6285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163033 |
| Garrett Motion, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;19026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199963 |
| Gentex Corp. | &nbsp;&nbsp;&nbsp;&nbsp;36703 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;807099 |
| Gentherm, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;4635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131124 |
| LCI Industries | &nbsp;&nbsp;&nbsp;&nbsp;3616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;329743 |
| Lear Corp. | &nbsp;&nbsp;&nbsp;&nbsp;8729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;829080 |
| Modine Manufacturing Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;7737 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;762095 |
| Motorcar Parts of America, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;2898 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32458 |
| Patrick Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;4806 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;443450 |
| PHINIA, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;5817 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;258798 |
| Solid Power, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;22664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49634 |
| Standard Motor Products, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;3221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98949 |
| Strattec Security Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;604 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37575 |
| Sumitomo Electric Industries, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;82908 | &nbsp;&nbsp;&nbsp;&nbsp;1777829 |
| The Goodyear Tire & Rubber Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;85185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;883368 |
| Visteon Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;8496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;792677 |
| XPEL, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;3581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128558 |
|  |  | &nbsp;&nbsp;&nbsp;21744550 |
| **Automobiles – 1.7%** | **Automobiles – 1.7%** |  |
| Bayerische Motoren Werke AG | &nbsp;&nbsp;&nbsp;&nbsp;33636 | &nbsp;&nbsp;&nbsp;&nbsp;2995600 |
| Faraday Future Intelligent Electric, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;13447 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22591 |
| Ferrari NV | &nbsp;&nbsp;&nbsp;&nbsp;14625 | &nbsp;&nbsp;&nbsp;&nbsp;7164948 |
| Ford Motor Company | &nbsp;&nbsp;275768 | &nbsp;&nbsp;&nbsp;&nbsp;2992083 |
| General Motors Company | &nbsp;&nbsp;&nbsp;&nbsp;67884 | &nbsp;&nbsp;&nbsp;&nbsp;3340572 |
| Harley-Davidson, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;17851 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;421284 |
| Honda Motor Company, Ltd. | &nbsp;&nbsp;490106 | &nbsp;&nbsp;&nbsp;&nbsp;4726017 |
| Isuzu Motors, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;62092 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;786577 |
| Livewire Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;5734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26376 |
| Mercedes-Benz Group AG | &nbsp;&nbsp;&nbsp;&nbsp;83794 | &nbsp;&nbsp;&nbsp;&nbsp;4881854 |
| Nissan Motor Company, Ltd. (A) | &nbsp;&nbsp;258556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625597 |
| Renault SA | &nbsp;&nbsp;&nbsp;&nbsp;22304 | &nbsp;&nbsp;&nbsp;&nbsp;1029218 |
| Stellantis NV | &nbsp;&nbsp;233954 | &nbsp;&nbsp;&nbsp;&nbsp;2343315 |
| Subaru Corp. | &nbsp;&nbsp;&nbsp;&nbsp;68044 | &nbsp;&nbsp;&nbsp;&nbsp;1179637 |
| Suzuki Motor Corp. | &nbsp;&nbsp;182358 | &nbsp;&nbsp;&nbsp;&nbsp;2198549 |
| Tesla, Inc. (A) | &nbsp;&nbsp;197856 | &nbsp;&nbsp;&nbsp;62850937 |
| Thor Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;8686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;771404 |
| Toyota Motor Corp. | 1099604 | &nbsp;&nbsp;&nbsp;18938463 |
| Winnebago Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;4090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118610 |
| Yamaha Motor Company, Ltd. (C) | &nbsp;&nbsp;107178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;802021 |
|  |  | 118215653 |
| **Broadline retail – 2.4%** | **Broadline retail – 2.4%** |  |
| Amazon.com, Inc. (A) | &nbsp;&nbsp;667129 | 146361431 |
| eBay, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;32549 | &nbsp;&nbsp;&nbsp;&nbsp;2423599 |
| Groupon, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;3715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124267 |
| Kohl's Corp. | &nbsp;&nbsp;&nbsp;&nbsp;16095 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136486 |
| Macy's, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;45482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;530320 |
| Next PLC | &nbsp;&nbsp;&nbsp;&nbsp;13543 | &nbsp;&nbsp;&nbsp;&nbsp;2313061 |
| Ollie's Bargain Outlet Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;10025 | &nbsp;&nbsp;&nbsp;&nbsp;1321095 |
| Pan Pacific International Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;44220 | &nbsp;&nbsp;&nbsp;&nbsp;1520949 |
| Prosus NV (A) | &nbsp;&nbsp;151815 | &nbsp;&nbsp;&nbsp;&nbsp;8517806 |
| Rakuten Group, Inc. (A) | &nbsp;&nbsp;175116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;964920 |
| Savers Value Village, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;3696 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37699 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Broadline retail (continued)** | **Broadline retail (continued)** |  |
| Wesfarmers, Ltd. | 131667 | $&nbsp;&nbsp;&nbsp;&nbsp;7347986 |
|  |  | 171599619 |
| **Distributors – 0.0%** | **Distributors – 0.0%** |  |
| A-Mark Precious Metals, Inc. | &nbsp;&nbsp;&nbsp;2847 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63146 |
| D'ieteren Group | &nbsp;&nbsp;&nbsp;2492 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;536651 |
| Genuine Parts Company | &nbsp;&nbsp;&nbsp;9800 | &nbsp;&nbsp;&nbsp;&nbsp;1188838 |
| GigaCloud Technology, Inc., Class A (A)(C) | &nbsp;&nbsp;&nbsp;3931 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77755 |
| LKQ Corp. | &nbsp;&nbsp;18227 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;674581 |
| Pool Corp. | &nbsp;&nbsp;&nbsp;2655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;773879 |
| Weyco Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29943 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;3344793 |
| **Diversified consumer services – 0.2%** | **Diversified consumer services – 0.2%** |  |
| Adtalem Global Education, Inc. (A) | &nbsp;&nbsp;&nbsp;5431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;690986 |
| American Public Education, Inc. (A) | &nbsp;&nbsp;&nbsp;2618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79744 |
| Carriage Services, Inc. | &nbsp;&nbsp;&nbsp;2117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96832 |
| Coursera, Inc. (A) | &nbsp;&nbsp;20607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180517 |
| Duolingo, Inc. (A) | &nbsp;&nbsp;&nbsp;6410 | &nbsp;&nbsp;&nbsp;&nbsp;2628228 |
| European Wax Center, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;4488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25267 |
| frontdoor, Inc. (A) | &nbsp;&nbsp;10978 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;647043 |
| Graham Holdings Company, Class B | &nbsp;&nbsp;&nbsp;1020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;965093 |
| Grand Canyon Education, Inc. (A) | &nbsp;&nbsp;&nbsp;4567 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;863163 |
| H&R Block, Inc. | &nbsp;&nbsp;21858 | &nbsp;&nbsp;&nbsp;&nbsp;1199786 |
| KinderCare Learning Cos, Inc. (A) | &nbsp;&nbsp;&nbsp;4843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48914 |
| Laureate Education, Inc. (A) | &nbsp;&nbsp;18986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;443893 |
| Lincoln Educational Services Corp. (A) | &nbsp;&nbsp;&nbsp;4554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104970 |
| Matthews International Corp., Class A | &nbsp;&nbsp;&nbsp;4560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109030 |
| Mister Car Wash, Inc. (A) | &nbsp;&nbsp;15002 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90162 |
| OneSpaWorld Holdings, Ltd. | &nbsp;&nbsp;14022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285909 |
| Pearson PLC | &nbsp;&nbsp;69291 | &nbsp;&nbsp;&nbsp;&nbsp;1020725 |
| Perdoceo Education Corp. | &nbsp;&nbsp;&nbsp;9089 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;297119 |
| Service Corp. International | &nbsp;&nbsp;23242 | &nbsp;&nbsp;&nbsp;&nbsp;1891899 |
| Strategic Education, Inc. | &nbsp;&nbsp;&nbsp;3541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301445 |
| Stride, Inc. (A) | &nbsp;&nbsp;&nbsp;6303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;915133 |
| Udemy, Inc. (A) | &nbsp;&nbsp;14638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102905 |
| Universal Technical Institute, Inc. (A) | &nbsp;&nbsp;&nbsp;6627 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;224589 |
|  |  | &nbsp;&nbsp;&nbsp;13213352 |
| **Hotels, restaurants and leisure – 1.9%** | **Hotels, restaurants and leisure – 1.9%** |  |
| Accel Entertainment, Inc. (A) | &nbsp;&nbsp;&nbsp;8450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99457 |
| Accor SA | &nbsp;&nbsp;22739 | &nbsp;&nbsp;&nbsp;&nbsp;1191716 |
| Airbnb, Inc., Class A (A) | &nbsp;&nbsp;30474 | &nbsp;&nbsp;&nbsp;&nbsp;4032929 |
| Amadeus IT Group SA (C) | &nbsp;&nbsp;52271 | &nbsp;&nbsp;&nbsp;&nbsp;4416015 |
| Aramark | &nbsp;&nbsp;42787 | &nbsp;&nbsp;&nbsp;&nbsp;1791492 |
| Aristocrat Leisure, Ltd. | &nbsp;&nbsp;65317 | &nbsp;&nbsp;&nbsp;&nbsp;2798492 |
| Biglari Holdings, Inc., Class B (A) | &nbsp;&nbsp;&nbsp;&nbsp;104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30390 |
| BJ's Restaurants, Inc. (A) | &nbsp;&nbsp;&nbsp;3160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140936 |
| Bloomin' Brands, Inc. | &nbsp;&nbsp;12533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107909 |
| Booking Holdings, Inc. | &nbsp;&nbsp;&nbsp;2298 | &nbsp;&nbsp;&nbsp;13303674 |
| Boyd Gaming Corp. | &nbsp;&nbsp;&nbsp;9968 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;779797 |
| Brinker International, Inc. (A) | &nbsp;&nbsp;&nbsp;6527 | &nbsp;&nbsp;&nbsp;&nbsp;1177014 |
| Caesars Entertainment, Inc. (A) | &nbsp;&nbsp;14684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;416879 |
| Carnival Corp. (A) | &nbsp;&nbsp;74134 | &nbsp;&nbsp;&nbsp;&nbsp;2084648 |
| Cava Group, Inc. (A) | &nbsp;&nbsp;13407 | &nbsp;&nbsp;&nbsp;&nbsp;1129272 |
| Chipotle Mexican Grill, Inc. (A) | &nbsp;&nbsp;95133 | &nbsp;&nbsp;&nbsp;&nbsp;5341718 |
| Choice Hotels International, Inc. (C) | &nbsp;&nbsp;&nbsp;3609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;457910 |
| Churchill Downs, Inc. | &nbsp;&nbsp;11793 | &nbsp;&nbsp;&nbsp;&nbsp;1191093 |
| Compass Group PLC | 196951 | &nbsp;&nbsp;&nbsp;&nbsp;6671118 |
| Cracker Barrel Old Country Store, Inc. | &nbsp;&nbsp;&nbsp;3280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200342 |
| Darden Restaurants, Inc. | &nbsp;&nbsp;&nbsp;8263 | &nbsp;&nbsp;&nbsp;&nbsp;1801086 |
| Dave & Buster's Entertainment, Inc. (A) | &nbsp;&nbsp;&nbsp;4050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121824 |
| Delivery Hero SE (A)(B) | &nbsp;&nbsp;22157 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;601390 |
| Denny's Corp. (A) | &nbsp;&nbsp;&nbsp;8083 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33140 |
| Dine Brands Global, Inc. | &nbsp;&nbsp;&nbsp;2297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55886 |
| Domino's Pizza, Inc. | &nbsp;&nbsp;&nbsp;2418 | &nbsp;&nbsp;&nbsp;&nbsp;1089551 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 118 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Hotels, restaurants and leisure (continued)** | **Hotels, restaurants and leisure (continued)** |  |
| DoorDash, Inc., Class A (A) | &nbsp;&nbsp;24208 | $&nbsp;&nbsp;&nbsp;5967514 |
| El Pollo Loco Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;4049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44579 |
| Entain PLC | &nbsp;&nbsp;70494 | &nbsp;&nbsp;&nbsp;&nbsp;873112 |
| Everi Holdings, Inc. (A) | &nbsp;&nbsp;12642 | &nbsp;&nbsp;&nbsp;&nbsp;180022 |
| Evolution AB (B) | &nbsp;&nbsp;17205 | &nbsp;&nbsp;&nbsp;1366474 |
| Expedia Group, Inc. | &nbsp;&nbsp;&nbsp;8586 | &nbsp;&nbsp;&nbsp;1448286 |
| FDJ UNITED (B) | &nbsp;&nbsp;12898 | &nbsp;&nbsp;&nbsp;&nbsp;506122 |
| First Watch Restaurant Group, Inc. (A) | &nbsp;&nbsp;&nbsp;6121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98181 |
| Galaxy Entertainment Group, Ltd. | 253807 | &nbsp;&nbsp;&nbsp;1131369 |
| Genius Sports, Ltd. (A) | &nbsp;&nbsp;32806 | &nbsp;&nbsp;&nbsp;&nbsp;341182 |
| Genting Singapore, Ltd. | 701650 | &nbsp;&nbsp;&nbsp;&nbsp;394635 |
| Global Business Travel Group I (A) | &nbsp;&nbsp;14948 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94172 |
| Golden Entertainment, Inc. | &nbsp;&nbsp;&nbsp;2881 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84788 |
| Hilton Grand Vacations, Inc. (A) | &nbsp;&nbsp;18419 | &nbsp;&nbsp;&nbsp;&nbsp;764941 |
| Hilton Worldwide Holdings, Inc. | &nbsp;&nbsp;16783 | &nbsp;&nbsp;&nbsp;4469984 |
| Hyatt Hotels Corp., Class A | &nbsp;&nbsp;&nbsp;6848 | &nbsp;&nbsp;&nbsp;&nbsp;956323 |
| Inspired Entertainment, Inc. (A) | &nbsp;&nbsp;&nbsp;3555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29044 |
| InterContinental Hotels Group PLC | &nbsp;&nbsp;17204 | &nbsp;&nbsp;&nbsp;1967021 |
| International Game Technology PLC | &nbsp;&nbsp;16488 | &nbsp;&nbsp;&nbsp;&nbsp;260675 |
| Jack in the Box, Inc. | &nbsp;&nbsp;&nbsp;2911 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50826 |
| Krispy Kreme, Inc. | &nbsp;&nbsp;12378 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36020 |
| Kura Sushi USA, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80571 |
| Las Vegas Sands Corp. | &nbsp;&nbsp;23948 | &nbsp;&nbsp;&nbsp;1041977 |
| Life Time Group Holdings, Inc. (A) | &nbsp;&nbsp;20007 | &nbsp;&nbsp;&nbsp;&nbsp;606812 |
| Light & Wonder, Inc. (A) | &nbsp;&nbsp;13776 | &nbsp;&nbsp;&nbsp;1326078 |
| Lindblad Expeditions Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;5809 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67791 |
| Marriott International, Inc., Class A | &nbsp;&nbsp;16051 | &nbsp;&nbsp;&nbsp;4385294 |
| Marriott Vacations Worldwide Corp. | &nbsp;&nbsp;&nbsp;9847 | &nbsp;&nbsp;&nbsp;&nbsp;712037 |
| McDonald's Corp. | &nbsp;&nbsp;50486 | 14750495 |
| MGM Resorts International (A) | &nbsp;&nbsp;14604 | &nbsp;&nbsp;&nbsp;&nbsp;502232 |
| Monarch Casino & Resort, Inc. | &nbsp;&nbsp;&nbsp;1855 | &nbsp;&nbsp;&nbsp;&nbsp;160346 |
| Nathan's Famous, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47771 |
| Norwegian Cruise Line Holdings, Ltd. (A) | &nbsp;&nbsp;31548 | &nbsp;&nbsp;&nbsp;&nbsp;639793 |
| Oriental Land Company, Ltd. | 125343 | &nbsp;&nbsp;&nbsp;2886872 |
| Papa John's International, Inc. | &nbsp;&nbsp;&nbsp;4837 | &nbsp;&nbsp;&nbsp;&nbsp;236723 |
| Planet Fitness, Inc., Class A (A) | &nbsp;&nbsp;13690 | &nbsp;&nbsp;&nbsp;1492895 |
| PlayAGS, Inc. (A) | &nbsp;&nbsp;&nbsp;5763 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71980 |
| Portillo's, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;8336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97281 |
| Potbelly Corp. (A) | &nbsp;&nbsp;&nbsp;3885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47591 |
| Pursuit Attractions and Hospitality, Inc. (A) | &nbsp;&nbsp;&nbsp;3258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93928 |
| RCI Hospitality Holdings, Inc. | &nbsp;&nbsp;&nbsp;1208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46049 |
| Red Rock Resorts, Inc., Class A | &nbsp;&nbsp;&nbsp;7135 | &nbsp;&nbsp;&nbsp;&nbsp;371234 |
| Royal Caribbean Cruises, Ltd. | &nbsp;&nbsp;17640 | &nbsp;&nbsp;&nbsp;5523790 |
| Rush Street Interactive, Inc. (A) | &nbsp;&nbsp;13100 | &nbsp;&nbsp;&nbsp;&nbsp;195190 |
| Sabre Corp. (A) | &nbsp;&nbsp;53600 | &nbsp;&nbsp;&nbsp;&nbsp;169376 |
| Sands China, Ltd. (A) | 281721 | &nbsp;&nbsp;&nbsp;&nbsp;588777 |
| Serve Robotics, Inc. (A) | &nbsp;&nbsp;&nbsp;6959 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79611 |
| Shake Shack, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;5718 | &nbsp;&nbsp;&nbsp;&nbsp;803951 |
| Six Flags Entertainment Corp. (A) | &nbsp;&nbsp;14152 | &nbsp;&nbsp;&nbsp;&nbsp;430645 |
| Sodexo SA | &nbsp;&nbsp;10266 | &nbsp;&nbsp;&nbsp;&nbsp;631836 |
| Starbucks Corp. | &nbsp;&nbsp;80237 | &nbsp;&nbsp;&nbsp;7352116 |
| Super Group SGHC, Ltd. | &nbsp;&nbsp;23658 | &nbsp;&nbsp;&nbsp;&nbsp;259528 |
| Sweetgreen, Inc., Class A (A) | &nbsp;&nbsp;15325 | &nbsp;&nbsp;&nbsp;&nbsp;228036 |
| Target Hospitality Corp. (A) | &nbsp;&nbsp;&nbsp;5380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38306 |
| Texas Roadhouse, Inc. | &nbsp;&nbsp;10831 | &nbsp;&nbsp;&nbsp;2029838 |
| The Cheesecake Factory, Inc. (C) | &nbsp;&nbsp;&nbsp;6699 | &nbsp;&nbsp;&nbsp;&nbsp;419759 |
| The Lottery Corp., Ltd. | 258247 | &nbsp;&nbsp;&nbsp;&nbsp;905937 |
| The Wendy's Company | &nbsp;&nbsp;26335 | &nbsp;&nbsp;&nbsp;&nbsp;300746 |
| Travel + Leisure Company | &nbsp;&nbsp;10843 | &nbsp;&nbsp;&nbsp;&nbsp;559607 |
| United Parks & Resorts, Inc. (A) | &nbsp;&nbsp;&nbsp;3958 | &nbsp;&nbsp;&nbsp;&nbsp;186620 |
| Vail Resorts, Inc. | &nbsp;&nbsp;&nbsp;6096 | &nbsp;&nbsp;&nbsp;&nbsp;957864 |
| Whitbread PLC | &nbsp;&nbsp;20481 | &nbsp;&nbsp;&nbsp;&nbsp;794786 |
| Wingstop, Inc. | &nbsp;&nbsp;&nbsp;4556 | &nbsp;&nbsp;&nbsp;1534187 |
| Wyndham Hotels & Resorts, Inc. | &nbsp;&nbsp;12571 | &nbsp;&nbsp;&nbsp;1020891 |
| Wynn Resorts, Ltd. | &nbsp;&nbsp;&nbsp;6214 | &nbsp;&nbsp;&nbsp;&nbsp;582065 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Hotels, restaurants and leisure (continued)** | **Hotels, restaurants and leisure (continued)** |  |
| Xponential Fitness, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;4337 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32484 |
| Yum! Brands, Inc. | &nbsp;&nbsp;19626 | &nbsp;&nbsp;&nbsp;&nbsp;2908181 |
| Zensho Holdings Company, Ltd. | &nbsp;&nbsp;11190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;677290 |
|  |  | 131008115 |
| **Household durables – 0.7%** | **Household durables – 0.7%** |  |
| Barratt Redrow PLC | 159339 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;997779 |
| Beazer Homes USA, Inc. (A) | &nbsp;&nbsp;&nbsp;4394 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98294 |
| Cavco Industries, Inc. (A) | &nbsp;&nbsp;&nbsp;1132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;491775 |
| Century Communities, Inc. | &nbsp;&nbsp;&nbsp;3970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223590 |
| Champion Homes, Inc. (A) | &nbsp;&nbsp;&nbsp;8019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;502070 |
| Cricut, Inc., Class A | &nbsp;&nbsp;&nbsp;7397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50078 |
| D.R. Horton, Inc. | &nbsp;&nbsp;19520 | &nbsp;&nbsp;&nbsp;&nbsp;2516518 |
| Dream Finders Homes, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;4634 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116452 |
| Ethan Allen Interiors, Inc. | &nbsp;&nbsp;&nbsp;3650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101653 |
| Flexsteel Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23888 |
| Garmin, Ltd. | &nbsp;&nbsp;10876 | &nbsp;&nbsp;&nbsp;&nbsp;2270039 |
| Green Brick Partners, Inc. (A) | &nbsp;&nbsp;&nbsp;4726 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;297171 |
| Hamilton Beach Brands Holding Company, Class B | &nbsp;&nbsp;&nbsp;&nbsp;853 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15260 |
| Helen of Troy, Ltd. (A) | &nbsp;&nbsp;&nbsp;3462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98252 |
| Hovnanian Enterprises, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78308 |
| Installed Building Products, Inc. | &nbsp;&nbsp;&nbsp;3467 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625169 |
| KB Home | &nbsp;&nbsp;21895 | &nbsp;&nbsp;&nbsp;&nbsp;1159778 |
| La-Z-Boy, Inc. | &nbsp;&nbsp;&nbsp;6219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231160 |
| Legacy Housing Corp. (A) | &nbsp;&nbsp;&nbsp;1602 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36301 |
| Leggett & Platt, Inc. | &nbsp;&nbsp;20176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179970 |
| Lennar Corp., Class A | &nbsp;&nbsp;16395 | &nbsp;&nbsp;&nbsp;&nbsp;1813451 |
| LGI Homes, Inc. (A) | &nbsp;&nbsp;&nbsp;3181 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163885 |
| M/I Homes, Inc. (A) | &nbsp;&nbsp;&nbsp;3911 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;438501 |
| Meritage Homes Corp. | &nbsp;&nbsp;10391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;695885 |
| Mohawk Industries, Inc. (A) | &nbsp;&nbsp;&nbsp;3664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;384134 |
| NVR, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;206 | &nbsp;&nbsp;&nbsp;&nbsp;1521446 |
| Panasonic Holdings Corp. | 270547 | &nbsp;&nbsp;&nbsp;&nbsp;2894669 |
| PulteGroup, Inc. | &nbsp;&nbsp;14151 | &nbsp;&nbsp;&nbsp;&nbsp;1492364 |
| Sekisui House, Ltd. | &nbsp;&nbsp;69235 | &nbsp;&nbsp;&nbsp;&nbsp;1523816 |
| Somnigroup International, Inc. | &nbsp;&nbsp;33714 | &nbsp;&nbsp;&nbsp;&nbsp;2294238 |
| Sonos, Inc. (A) | &nbsp;&nbsp;17791 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192321 |
| Sony Group Corp. | 713555 | &nbsp;&nbsp;&nbsp;18552648 |
| Taylor Morrison Home Corp. (A) | &nbsp;&nbsp;30775 | &nbsp;&nbsp;&nbsp;&nbsp;1890201 |
| The Lovesac Company (A) | &nbsp;&nbsp;&nbsp;2141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38966 |
| Toll Brothers, Inc. | &nbsp;&nbsp;16235 | &nbsp;&nbsp;&nbsp;&nbsp;1852901 |
| TopBuild Corp. (A) | &nbsp;&nbsp;&nbsp;4640 | &nbsp;&nbsp;&nbsp;&nbsp;1502154 |
| Tri Pointe Homes, Inc. (A) | &nbsp;&nbsp;13225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;422539 |
| Whirlpool Corp. | &nbsp;&nbsp;&nbsp;9079 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;920792 |
|  |  | &nbsp;&nbsp;&nbsp;48708416 |
| **Leisure products – 0.1%** | **Leisure products – 0.1%** |  |
| Acushnet Holdings Corp. | &nbsp;&nbsp;&nbsp;4187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;304897 |
| Bandai Namco Holdings, Inc. | &nbsp;&nbsp;68921 | &nbsp;&nbsp;&nbsp;&nbsp;2470074 |
| Brunswick Corp. | &nbsp;&nbsp;10723 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;592339 |
| Escalade, Inc. | &nbsp;&nbsp;&nbsp;1796 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25108 |
| Funko, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;5510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26228 |
| Hasbro, Inc. | &nbsp;&nbsp;&nbsp;9300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;686526 |
| JAKKS Pacific, Inc. | &nbsp;&nbsp;&nbsp;1395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28988 |
| Johnson Outdoors, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26274 |
| Latham Group, Inc. (A) | &nbsp;&nbsp;&nbsp;6938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44264 |
| Malibu Boats, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;2879 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90228 |
| MasterCraft Boat Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;2821 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52414 |
| Mattel, Inc. (A) | &nbsp;&nbsp;52719 | &nbsp;&nbsp;&nbsp;&nbsp;1039619 |
| Peloton Interactive, Inc., Class A (A) | &nbsp;&nbsp;54659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;379333 |
| Polaris, Inc. | &nbsp;&nbsp;16546 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;672595 |
| Shimano, Inc. | &nbsp;&nbsp;&nbsp;8789 | &nbsp;&nbsp;&nbsp;&nbsp;1274233 |
| Smith & Wesson Brands, Inc. | &nbsp;&nbsp;&nbsp;6811 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59119 |
| Sturm Ruger & Company, Inc. | &nbsp;&nbsp;&nbsp;2487 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89283 |
| Topgolf Callaway Brands Corp. (A) | &nbsp;&nbsp;19777 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159205 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 119 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Leisure products (continued)** | **Leisure products (continued)** |  |
| YETI Holdings, Inc. (A) | &nbsp;&nbsp;13521 | $&nbsp;&nbsp;&nbsp;&nbsp;426182 |
|  |  | 8446909 |
| **Specialty retail – 1.6%** | **Specialty retail – 1.6%** |  |
| Abercrombie & Fitch Company, Class A (A) | &nbsp;&nbsp;14751 | 1222120 |
| Academy Sports & Outdoors, Inc. | &nbsp;&nbsp;&nbsp;9773 | &nbsp;&nbsp;&nbsp;&nbsp;437928 |
| Advance Auto Parts, Inc. | &nbsp;&nbsp;&nbsp;8910 | &nbsp;&nbsp;&nbsp;&nbsp;414226 |
| American Eagle Outfitters, Inc. | &nbsp;&nbsp;24102 | &nbsp;&nbsp;&nbsp;&nbsp;231861 |
| America's Car-Mart, Inc. (A) | &nbsp;&nbsp;&nbsp;1154 | &nbsp;&nbsp;&nbsp;&nbsp;64670 |
| Arhaus, Inc. (A) | &nbsp;&nbsp;&nbsp;7928 | &nbsp;&nbsp;&nbsp;&nbsp;68736 |
| Arko Corp. | &nbsp;&nbsp;12273 | &nbsp;&nbsp;&nbsp;&nbsp;51915 |
| Asbury Automotive Group, Inc. (A) | &nbsp;&nbsp;&nbsp;2890 | &nbsp;&nbsp;&nbsp;&nbsp;689381 |
| AutoNation, Inc. (A) | &nbsp;&nbsp;&nbsp;4062 | &nbsp;&nbsp;&nbsp;&nbsp;806916 |
| AutoZone, Inc. (A) | &nbsp;&nbsp;&nbsp;1181 | 4384144 |
| Avolta AG (A) | &nbsp;&nbsp;10199 | &nbsp;&nbsp;&nbsp;&nbsp;555551 |
| Barnes & Noble Education, Inc. (A) | &nbsp;&nbsp;&nbsp;2280 | &nbsp;&nbsp;&nbsp;&nbsp;26836 |
| Bath & Body Works, Inc. | &nbsp;&nbsp;34777 | 1041919 |
| Best Buy Company, Inc. | &nbsp;&nbsp;13601 | &nbsp;&nbsp;&nbsp;&nbsp;913035 |
| Beyond, Inc. (A) | &nbsp;&nbsp;&nbsp;8391 | &nbsp;&nbsp;&nbsp;&nbsp;57730 |
| Boot Barn Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;4553 | &nbsp;&nbsp;&nbsp;&nbsp;692056 |
| Build-A-Bear Workshop, Inc. | &nbsp;&nbsp;&nbsp;1868 | &nbsp;&nbsp;&nbsp;&nbsp;96314 |
| Burlington Stores, Inc. (A) | &nbsp;&nbsp;10284 | 2392470 |
| Caleres, Inc. | &nbsp;&nbsp;&nbsp;5185 | &nbsp;&nbsp;&nbsp;&nbsp;63361 |
| Camping World Holdings, Inc., Class A | &nbsp;&nbsp;&nbsp;8951 | &nbsp;&nbsp;&nbsp;&nbsp;153868 |
| CarMax, Inc. (A) | &nbsp;&nbsp;10756 | &nbsp;&nbsp;&nbsp;&nbsp;722911 |
| Chewy, Inc., Class A (A) | &nbsp;&nbsp;36094 | 1538326 |
| Citi Trends, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;831 | &nbsp;&nbsp;&nbsp;&nbsp;27747 |
| Dick's Sporting Goods, Inc. | &nbsp;&nbsp;&nbsp;9222 | 1824204 |
| EVgo, Inc. (A) | &nbsp;&nbsp;19325 | &nbsp;&nbsp;&nbsp;&nbsp;70536 |
| Fast Retailing Company, Ltd. | &nbsp;&nbsp;22154 | 7595807 |
| Five Below, Inc. (A) | &nbsp;&nbsp;&nbsp;8989 | 1179177 |
| Floor & Decor Holdings, Inc., Class A (A) | &nbsp;&nbsp;17568 | 1334465 |
| Foot Locker, Inc. (A) | &nbsp;&nbsp;12699 | &nbsp;&nbsp;&nbsp;&nbsp;311126 |
| GameStop Corp., Class A (A)(C) | &nbsp;&nbsp;66456 | 1620862 |
| Genesco, Inc. (A) | &nbsp;&nbsp;&nbsp;1720 | &nbsp;&nbsp;&nbsp;&nbsp;33867 |
| Group 1 Automotive, Inc. | &nbsp;&nbsp;&nbsp;1852 | &nbsp;&nbsp;&nbsp;&nbsp;808787 |
| Haverty Furniture Companies, Inc. | &nbsp;&nbsp;&nbsp;2179 | &nbsp;&nbsp;&nbsp;&nbsp;44343 |
| Hennes & Mauritz AB, B Shares | &nbsp;&nbsp;65725 | &nbsp;&nbsp;&nbsp;&nbsp;925679 |
| Industria de Diseno Textil SA | 126567 | 6602590 |
| JD Sports Fashion PLC | 300586 | &nbsp;&nbsp;&nbsp;&nbsp;366557 |
| Kingfisher PLC | 206901 | &nbsp;&nbsp;&nbsp;&nbsp;826278 |
| Lithia Motors, Inc. | &nbsp;&nbsp;&nbsp;4250 | 1435735 |
| Lowe's Companies, Inc. | &nbsp;&nbsp;39519 | 8768081 |
| MarineMax, Inc. (A) | &nbsp;&nbsp;&nbsp;2851 | &nbsp;&nbsp;&nbsp;&nbsp;71674 |
| Monro, Inc. | &nbsp;&nbsp;&nbsp;4647 | &nbsp;&nbsp;&nbsp;&nbsp;69287 |
| Murphy USA, Inc. | &nbsp;&nbsp;&nbsp;2936 | 1194365 |
| National Vision Holdings, Inc. (A) | &nbsp;&nbsp;11564 | &nbsp;&nbsp;&nbsp;&nbsp;266088 |
| Nitori Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;9295 | &nbsp;&nbsp;&nbsp;&nbsp;894646 |
| OneWater Marine, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;1894 | &nbsp;&nbsp;&nbsp;&nbsp;25361 |
| O'Reilly Automotive, Inc. (A) | &nbsp;&nbsp;60356 | 5439886 |
| Penske Automotive Group, Inc. | &nbsp;&nbsp;&nbsp;3025 | &nbsp;&nbsp;&nbsp;&nbsp;519725 |
| Petco Health & Wellness Company, Inc. (A) | &nbsp;&nbsp;12185 | &nbsp;&nbsp;&nbsp;&nbsp;34484 |
| Revolve Group, Inc. (A) | &nbsp;&nbsp;&nbsp;6095 | &nbsp;&nbsp;&nbsp;&nbsp;122205 |
| RH (A) | &nbsp;&nbsp;&nbsp;2477 | &nbsp;&nbsp;&nbsp;&nbsp;468178 |
| Ross Stores, Inc. | &nbsp;&nbsp;23218 | 2962152 |
| Sally Beauty Holdings, Inc. (A) | &nbsp;&nbsp;15301 | &nbsp;&nbsp;&nbsp;&nbsp;141687 |
| Sanrio Company, Ltd. | &nbsp;&nbsp;20744 | 1003089 |
| Shoe Carnival, Inc. | &nbsp;&nbsp;&nbsp;2822 | &nbsp;&nbsp;&nbsp;&nbsp;52800 |
| Signet Jewelers, Ltd. | &nbsp;&nbsp;&nbsp;6161 | &nbsp;&nbsp;&nbsp;&nbsp;490108 |
| Sleep Number Corp. (A) | &nbsp;&nbsp;&nbsp;3348 | &nbsp;&nbsp;&nbsp;&nbsp;22616 |
| Sonic Automotive, Inc., Class A | &nbsp;&nbsp;&nbsp;2184 | &nbsp;&nbsp;&nbsp;&nbsp;174567 |
| Stitch Fix, Inc., Class A (A) | &nbsp;&nbsp;16316 | &nbsp;&nbsp;&nbsp;&nbsp;60369 |
| The Buckle, Inc. | &nbsp;&nbsp;&nbsp;4724 | &nbsp;&nbsp;&nbsp;&nbsp;214233 |
| The Gap, Inc. | &nbsp;&nbsp;36277 | &nbsp;&nbsp;&nbsp;&nbsp;791201 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Specialty retail (continued)** | **Specialty retail (continued)** |  |
| The Home Depot, Inc. | &nbsp;&nbsp;70178 | $&nbsp;&nbsp;&nbsp;25730062 |
| The ODP Corp. (A) | &nbsp;&nbsp;&nbsp;4220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76509 |
| The RealReal, Inc. (A) | &nbsp;&nbsp;14720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70509 |
| The TJX Companies, Inc. | &nbsp;&nbsp;78832 | &nbsp;&nbsp;&nbsp;&nbsp;9734964 |
| ThredUp, Inc., Class A (A) | &nbsp;&nbsp;13665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102351 |
| Tile Shop Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;5150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32754 |
| Tractor Supply Company | &nbsp;&nbsp;37436 | &nbsp;&nbsp;&nbsp;&nbsp;1975498 |
| Ulta Beauty, Inc. (A) | &nbsp;&nbsp;&nbsp;3188 | &nbsp;&nbsp;&nbsp;&nbsp;1491410 |
| Upbound Group, Inc. | &nbsp;&nbsp;&nbsp;7872 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197587 |
| Urban Outfitters, Inc. (A) | &nbsp;&nbsp;&nbsp;9355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;678612 |
| Valvoline, Inc. (A) | &nbsp;&nbsp;20753 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;785916 |
| Victoria's Secret & Company (A) | &nbsp;&nbsp;10162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188200 |
| Warby Parker, Inc., Class A (A) | &nbsp;&nbsp;14600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320178 |
| Williams-Sonoma, Inc. | &nbsp;&nbsp;&nbsp;8680 | &nbsp;&nbsp;&nbsp;&nbsp;1418052 |
| Winmark Corp. | &nbsp;&nbsp;&nbsp;&nbsp;451 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170302 |
| Zalando SE (A)(B) | &nbsp;&nbsp;26049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;859548 |
| ZOZO, Inc. | &nbsp;&nbsp;47065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;508523 |
| Zumiez, Inc. (A) | &nbsp;&nbsp;&nbsp;2715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36001 |
|  |  | 109797812 |
| **Textiles, apparel and luxury goods – 1.0%** | **Textiles, apparel and luxury goods – 1.0%** |  |
| adidas AG | &nbsp;&nbsp;19841 | &nbsp;&nbsp;&nbsp;&nbsp;4631484 |
| Asics Corp. | &nbsp;&nbsp;76699 | &nbsp;&nbsp;&nbsp;&nbsp;1955852 |
| Capri Holdings, Ltd. (A) | &nbsp;&nbsp;36552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;646970 |
| Carter's, Inc. | &nbsp;&nbsp;&nbsp;5272 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158845 |
| Cie Financiere Richemont SA, A Shares | &nbsp;&nbsp;62375 | &nbsp;&nbsp;&nbsp;11803394 |
| Columbia Sportswear Company | &nbsp;&nbsp;&nbsp;5005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;305705 |
| Crocs, Inc. (A) | &nbsp;&nbsp;&nbsp;9155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;927218 |
| Deckers Outdoor Corp. (A) | &nbsp;&nbsp;10716 | &nbsp;&nbsp;&nbsp;&nbsp;1104498 |
| Ermenegildo Zegna NV | &nbsp;&nbsp;&nbsp;9622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82268 |
| Figs, Inc., Class A (A) | &nbsp;&nbsp;13406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75610 |
| G-III Apparel Group, Ltd. (A) | &nbsp;&nbsp;&nbsp;5837 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130749 |
| Hanesbrands, Inc. (A) | &nbsp;&nbsp;52312 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239589 |
| Hermes International SCA | &nbsp;&nbsp;&nbsp;3675 | &nbsp;&nbsp;&nbsp;&nbsp;9962430 |
| Kering SA | &nbsp;&nbsp;&nbsp;8637 | &nbsp;&nbsp;&nbsp;&nbsp;1881619 |
| Kontoor Brands, Inc. | &nbsp;&nbsp;&nbsp;8129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;536270 |
| Lakeland Industries, Inc. | &nbsp;&nbsp;&nbsp;1723 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23450 |
| Lululemon Athletica, Inc. (A) | &nbsp;&nbsp;&nbsp;7805 | &nbsp;&nbsp;&nbsp;&nbsp;1854312 |
| LVMH Moet Hennessy Louis Vuitton SE | &nbsp;&nbsp;31917 | &nbsp;&nbsp;&nbsp;16704723 |
| Moncler SpA | &nbsp;&nbsp;27102 | &nbsp;&nbsp;&nbsp;&nbsp;1545939 |
| Movado Group, Inc. | &nbsp;&nbsp;&nbsp;2257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34419 |
| NIKE, Inc., Class B | &nbsp;&nbsp;83181 | &nbsp;&nbsp;&nbsp;&nbsp;5909178 |
| Oxford Industries, Inc. | &nbsp;&nbsp;&nbsp;2121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85370 |
| Pandora A/S | &nbsp;&nbsp;&nbsp;9514 | &nbsp;&nbsp;&nbsp;&nbsp;1676321 |
| PVH Corp. | &nbsp;&nbsp;&nbsp;7836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;537550 |
| Ralph Lauren Corp. | &nbsp;&nbsp;&nbsp;2816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;772372 |
| Rocky Brands, Inc. | &nbsp;&nbsp;&nbsp;1101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24431 |
| Skechers USA, Inc., Class A (A) | &nbsp;&nbsp;21272 | &nbsp;&nbsp;&nbsp;&nbsp;1342263 |
| Steven Madden, Ltd. | &nbsp;&nbsp;10300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246994 |
| Superior Group of Companies, Inc. | &nbsp;&nbsp;&nbsp;2048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21094 |
| Tapestry, Inc. | &nbsp;&nbsp;14664 | &nbsp;&nbsp;&nbsp;&nbsp;1287646 |
| The Swatch Group AG, Bearer Shares | &nbsp;&nbsp;&nbsp;3358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;548230 |
| Under Armour, Inc., Class A (A) | &nbsp;&nbsp;30829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210562 |
| Under Armour, Inc., Class C (A) | &nbsp;&nbsp;20911 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135712 |
| VF Corp. | &nbsp;&nbsp;54063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;635240 |
| Wolverine World Wide, Inc. | &nbsp;&nbsp;11971 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216436 |
|  |  | &nbsp;&nbsp;&nbsp;68254743 |
|  |  | 694333962 |
| **Consumer staples – 5.9%** |  |  |
| **Beverages – 1.1%** | **Beverages – 1.1%** |  |
| Anheuser-Busch InBev SA/NV | 114690 | &nbsp;&nbsp;&nbsp;&nbsp;7890717 |
| Asahi Group Holdings, Ltd. | 167657 | &nbsp;&nbsp;&nbsp;&nbsp;2241094 |
| Brown-Forman Corp., Class B | &nbsp;&nbsp;12858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346009 |
| Carlsberg A/S, Class B | &nbsp;&nbsp;11084 | &nbsp;&nbsp;&nbsp;&nbsp;1570418 |
| Celsius Holdings, Inc. (A) | &nbsp;&nbsp;25669 | &nbsp;&nbsp;&nbsp;&nbsp;1190785 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 120 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Beverages (continued)** | **Beverages (continued)** |  |
| Coca-Cola Consolidated, Inc. | &nbsp;&nbsp;&nbsp;9571 | $&nbsp;&nbsp;&nbsp;1068602 |
| Coca-Cola Europacific Partners PLC | &nbsp;&nbsp;26732 | &nbsp;&nbsp;&nbsp;2478591 |
| Coca-Cola HBC AG (A) | &nbsp;&nbsp;25294 | &nbsp;&nbsp;&nbsp;1321424 |
| Constellation Brands, Inc., Class A | &nbsp;&nbsp;10808 | &nbsp;&nbsp;&nbsp;1758245 |
| Davide Campari-Milano NV | &nbsp;&nbsp;71430 | &nbsp;&nbsp;&nbsp;&nbsp;480892 |
| Diageo PLC | 258195 | &nbsp;&nbsp;&nbsp;6510669 |
| Heineken Holding NV | &nbsp;&nbsp;15039 | &nbsp;&nbsp;&nbsp;1122205 |
| Heineken NV | &nbsp;&nbsp;33417 | &nbsp;&nbsp;&nbsp;2915394 |
| Keurig Dr. Pepper, Inc. | &nbsp;&nbsp;95898 | &nbsp;&nbsp;&nbsp;3170388 |
| Kirin Holdings Company, Ltd. (C) | &nbsp;&nbsp;90143 | &nbsp;&nbsp;&nbsp;1263230 |
| MGP Ingredients, Inc. | &nbsp;&nbsp;&nbsp;2099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62907 |
| Molson Coors Beverage Company, Class B | &nbsp;&nbsp;12098 | &nbsp;&nbsp;&nbsp;&nbsp;581793 |
| Monster Beverage Corp. (A) | &nbsp;&nbsp;49578 | &nbsp;&nbsp;&nbsp;3105566 |
| National Beverage Corp. (A) | &nbsp;&nbsp;&nbsp;3690 | &nbsp;&nbsp;&nbsp;&nbsp;159556 |
| PepsiCo, Inc. | &nbsp;&nbsp;96806 | 12782264 |
| Pernod Ricard SA | &nbsp;&nbsp;23416 | &nbsp;&nbsp;&nbsp;2335779 |
| Suntory Beverage & Food, Ltd. | &nbsp;&nbsp;16134 | &nbsp;&nbsp;&nbsp;&nbsp;515956 |
| The Boston Beer Company, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;1344 | &nbsp;&nbsp;&nbsp;&nbsp;256449 |
| The Coca-Cola Company | 273500 | 19350125 |
| The Vita Coco Company, Inc. (A) | &nbsp;&nbsp;&nbsp;5970 | &nbsp;&nbsp;&nbsp;&nbsp;215517 |
|  |  | 74694575 |
| **Consumer staples distribution and retail – 1.7%** | **Consumer staples distribution and retail – 1.7%** |  |
| Aeon Company, Ltd. | &nbsp;&nbsp;75876 | &nbsp;&nbsp;&nbsp;2325810 |
| Albertsons Companies, Inc., Class A | &nbsp;&nbsp;65800 | &nbsp;&nbsp;&nbsp;1415358 |
| BJ's Wholesale Club Holdings, Inc. (A) | &nbsp;&nbsp;21560 | &nbsp;&nbsp;&nbsp;2324815 |
| Carrefour SA | &nbsp;&nbsp;62933 | &nbsp;&nbsp;&nbsp;&nbsp;887747 |
| Casey's General Stores, Inc. | &nbsp;&nbsp;&nbsp;6060 | &nbsp;&nbsp;&nbsp;3092236 |
| Coles Group, Ltd. | 155628 | &nbsp;&nbsp;&nbsp;2133990 |
| Costco Wholesale Corp. | &nbsp;&nbsp;31327 | 31011850 |
| Dollar General Corp. | &nbsp;&nbsp;15530 | &nbsp;&nbsp;&nbsp;1776321 |
| Dollar Tree, Inc. (A) | &nbsp;&nbsp;13947 | &nbsp;&nbsp;&nbsp;1381311 |
| Grocery Outlet Holding Corp. (A) | &nbsp;&nbsp;14096 | &nbsp;&nbsp;&nbsp;&nbsp;175072 |
| Guardian Pharmacy Services, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;2046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43600 |
| Ingles Markets, Inc., Class A | &nbsp;&nbsp;&nbsp;2118 | &nbsp;&nbsp;&nbsp;&nbsp;134239 |
| J Sainsbury PLC | 203967 | &nbsp;&nbsp;&nbsp;&nbsp;811760 |
| Jeronimo Martins SGPS SA | &nbsp;&nbsp;32857 | &nbsp;&nbsp;&nbsp;&nbsp;831870 |
| Kesko OYJ, B Shares | &nbsp;&nbsp;31690 | &nbsp;&nbsp;&nbsp;&nbsp;781607 |
| Kobe Bussan Company, Ltd. | &nbsp;&nbsp;17460 | &nbsp;&nbsp;&nbsp;&nbsp;542230 |
| Koninklijke Ahold Delhaize NV | 105927 | &nbsp;&nbsp;&nbsp;4424194 |
| Maplebear, Inc. (A) | &nbsp;&nbsp;26819 | &nbsp;&nbsp;&nbsp;1213292 |
| Marks & Spencer Group PLC | 238462 | &nbsp;&nbsp;&nbsp;1160599 |
| MatsukiyoCocokara & Company | &nbsp;&nbsp;38583 | &nbsp;&nbsp;&nbsp;&nbsp;793672 |
| Natural Grocers by Vitamin Cottage, Inc. | &nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78500 |
| Performance Food Group Company (A) | &nbsp;&nbsp;25484 | &nbsp;&nbsp;&nbsp;2229085 |
| PriceSmart, Inc. | &nbsp;&nbsp;&nbsp;3796 | &nbsp;&nbsp;&nbsp;&nbsp;398732 |
| Seven & i Holdings Company, Ltd. | 256873 | &nbsp;&nbsp;&nbsp;4134452 |
| SpartanNash Company | &nbsp;&nbsp;&nbsp;5183 | &nbsp;&nbsp;&nbsp;&nbsp;137298 |
| Sprouts Farmers Market, Inc. (A) | &nbsp;&nbsp;15977 | &nbsp;&nbsp;&nbsp;2630453 |
| Sysco Corp. | &nbsp;&nbsp;34227 | &nbsp;&nbsp;&nbsp;2592353 |
| Target Corp. | &nbsp;&nbsp;32080 | &nbsp;&nbsp;&nbsp;3164692 |
| Tesco PLC | 780697 | &nbsp;&nbsp;&nbsp;4304389 |
| The Andersons, Inc. | &nbsp;&nbsp;&nbsp;4871 | &nbsp;&nbsp;&nbsp;&nbsp;179009 |
| The Chefs' Warehouse, Inc. (A) | &nbsp;&nbsp;&nbsp;5379 | &nbsp;&nbsp;&nbsp;&nbsp;343234 |
| The Kroger Company | &nbsp;&nbsp;43253 | &nbsp;&nbsp;&nbsp;3102538 |
| U.S. Foods Holding Corp. (A) | &nbsp;&nbsp;37772 | &nbsp;&nbsp;&nbsp;2908822 |
| United Natural Foods, Inc. (A) | &nbsp;&nbsp;&nbsp;8898 | &nbsp;&nbsp;&nbsp;&nbsp;207412 |
| Village Super Market, Inc., Class A | &nbsp;&nbsp;&nbsp;1473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56711 |
| Walgreens Boots Alliance, Inc. | &nbsp;&nbsp;50676 | &nbsp;&nbsp;&nbsp;&nbsp;581760 |
| Walmart, Inc. | 305053 | 29828082 |
| Weis Markets, Inc. | &nbsp;&nbsp;&nbsp;2496 | &nbsp;&nbsp;&nbsp;&nbsp;180935 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Consumer staples distribution and retail (continued)** | **Consumer staples distribution and retail (continued)** |  |
| Woolworths Group, Ltd. | 141739 | $&nbsp;&nbsp;&nbsp;&nbsp;2903356 |
|  |  | 117223386 |
| **Food products – 1.2%** | **Food products – 1.2%** |  |
| Ajinomoto Company, Inc. | 105015 | &nbsp;&nbsp;&nbsp;&nbsp;2848337 |
| Alico, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;974 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31830 |
| Archer-Daniels-Midland Company | &nbsp;&nbsp;33923 | &nbsp;&nbsp;&nbsp;&nbsp;1790456 |
| Associated British Foods PLC | &nbsp;&nbsp;37815 | &nbsp;&nbsp;&nbsp;&nbsp;1068437 |
| B&G Foods, Inc. (C) | &nbsp;&nbsp;12149 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51390 |
| Barry Callebaut AG | &nbsp;&nbsp;&nbsp;&nbsp;414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;452530 |
| Beyond Meat, Inc. (A)(C) | &nbsp;&nbsp;11557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40334 |
| Bunge Global SA | &nbsp;&nbsp;&nbsp;9490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;761857 |
| Calavo Growers, Inc. | &nbsp;&nbsp;&nbsp;2554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67911 |
| Cal-Maine Foods, Inc. | &nbsp;&nbsp;&nbsp;6759 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;673399 |
| Chocoladefabriken Lindt & Spruengli AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12 | &nbsp;&nbsp;&nbsp;&nbsp;2000707 |
| Chocoladefabriken Lindt & Spruengli AG, Participation Certificates | &nbsp;&nbsp;&nbsp;&nbsp;110 | &nbsp;&nbsp;&nbsp;&nbsp;1853895 |
| Conagra Brands, Inc. | &nbsp;&nbsp;33707 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;689982 |
| Danone SA | &nbsp;&nbsp;74905 | &nbsp;&nbsp;&nbsp;&nbsp;6128977 |
| Darling Ingredients, Inc. (A) | &nbsp;&nbsp;25822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;979687 |
| Dole PLC | &nbsp;&nbsp;&nbsp;9886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138305 |
| Flowers Foods, Inc. | &nbsp;&nbsp;32059 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;512303 |
| Fresh Del Monte Produce, Inc. | &nbsp;&nbsp;&nbsp;4792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155357 |
| General Mills, Inc. | &nbsp;&nbsp;38665 | &nbsp;&nbsp;&nbsp;&nbsp;2003234 |
| Hormel Foods Corp. | &nbsp;&nbsp;20578 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;622485 |
| Ingredion, Inc. | &nbsp;&nbsp;10500 | &nbsp;&nbsp;&nbsp;&nbsp;1424010 |
| J&J Snack Foods Corp. | &nbsp;&nbsp;&nbsp;2294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260163 |
| JDE Peet's NV | &nbsp;&nbsp;19825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;566293 |
| John B Sanfilippo & Son, Inc. | &nbsp;&nbsp;&nbsp;1143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72283 |
| Kellanova | &nbsp;&nbsp;18985 | &nbsp;&nbsp;&nbsp;&nbsp;1509877 |
| Kerry Group PLC, Class A | &nbsp;&nbsp;19151 | &nbsp;&nbsp;&nbsp;&nbsp;2115926 |
| Kikkoman Corp. | &nbsp;&nbsp;78735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;730333 |
| Lamb Weston Holdings, Inc. | &nbsp;&nbsp;&nbsp;9964 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;516633 |
| Lancaster Colony Corp. | &nbsp;&nbsp;&nbsp;6102 | &nbsp;&nbsp;&nbsp;&nbsp;1054243 |
| Limoneira Company | &nbsp;&nbsp;&nbsp;2756 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43131 |
| Lotus Bakeries NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;452888 |
| Mama's Creations, Inc. (A) | &nbsp;&nbsp;&nbsp;5324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44189 |
| McCormick & Company, Inc. | &nbsp;&nbsp;17841 | &nbsp;&nbsp;&nbsp;&nbsp;1352705 |
| MEIJI Holdings Company, Ltd. | &nbsp;&nbsp;27832 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;615471 |
| Mission Produce, Inc. (A) | &nbsp;&nbsp;&nbsp;7344 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86072 |
| Mondelez International, Inc., Class A | &nbsp;&nbsp;91422 | &nbsp;&nbsp;&nbsp;&nbsp;6165500 |
| Mowi ASA | &nbsp;&nbsp;53999 | &nbsp;&nbsp;&nbsp;&nbsp;1042905 |
| Nestle SA | 303996 | &nbsp;&nbsp;&nbsp;30225210 |
| Nissin Foods Holdings Company, Ltd. | &nbsp;&nbsp;22821 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;474110 |
| Orkla ASA | &nbsp;&nbsp;81335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;885859 |
| Pilgrim's Pride Corp. | &nbsp;&nbsp;&nbsp;6581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;296013 |
| Post Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;7369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;803442 |
| Salmar ASA | &nbsp;&nbsp;&nbsp;7760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;336498 |
| Seneca Foods Corp., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69784 |
| SunOpta, Inc. (A) | &nbsp;&nbsp;14357 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83271 |
| The Campbell's Company | &nbsp;&nbsp;13896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425912 |
| The Hain Celestial Group, Inc. (A) | &nbsp;&nbsp;15393 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23397 |
| The Hershey Company | &nbsp;&nbsp;10449 | &nbsp;&nbsp;&nbsp;&nbsp;1734012 |
| The J.M. Smucker Company | &nbsp;&nbsp;&nbsp;7514 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;737875 |
| The Kraft Heinz Company | &nbsp;&nbsp;61006 | &nbsp;&nbsp;&nbsp;&nbsp;1575175 |
| The Simply Good Foods Company (A) | &nbsp;&nbsp;13775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;435152 |
| Tootsie Roll Industries, Inc. | &nbsp;&nbsp;&nbsp;2733 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91419 |
| TreeHouse Foods, Inc. (A) | &nbsp;&nbsp;&nbsp;7400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143708 |
| Tyson Foods, Inc., Class A | &nbsp;&nbsp;20209 | &nbsp;&nbsp;&nbsp;&nbsp;1130491 |
| Utz Brands, Inc. | &nbsp;&nbsp;10771 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135176 |
| Vital Farms, Inc. (A) | &nbsp;&nbsp;&nbsp;5117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197107 |
| Westrock Coffee Company (A)(C) | &nbsp;&nbsp;&nbsp;5949 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34088 |
| WH Group, Ltd. (B) | 967644 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;932608 |
| Wilmar International, Ltd. | 222900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;503147 |
| WK Kellogg Company (C) | &nbsp;&nbsp;&nbsp;9235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147206 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 121 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Food products (continued)** | **Food products (continued)** |  |
| Yakult Honsha Company, Ltd. | &nbsp;&nbsp;29769 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560640 |
|  |  | &nbsp;&nbsp;&nbsp;82905335 |
| **Household products – 0.7%** | **Household products – 0.7%** |  |
| Central Garden & Pet Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27053 |
| Central Garden & Pet Company, Class A (A) | &nbsp;&nbsp;&nbsp;8433 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263869 |
| Church & Dwight Company, Inc. | &nbsp;&nbsp;17389 | &nbsp;&nbsp;&nbsp;&nbsp;1671257 |
| Colgate-Palmolive Company | &nbsp;&nbsp;57221 | &nbsp;&nbsp;&nbsp;&nbsp;5201389 |
| Energizer Holdings, Inc. | &nbsp;&nbsp;&nbsp;9741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196379 |
| Essity AB, B Shares | &nbsp;&nbsp;69894 | &nbsp;&nbsp;&nbsp;&nbsp;1935285 |
| Henkel AG & Company KGaA | &nbsp;&nbsp;12058 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;874510 |
| Kimberly-Clark Corp. | &nbsp;&nbsp;23428 | &nbsp;&nbsp;&nbsp;&nbsp;3020338 |
| Oil-Dri Corp. of America | &nbsp;&nbsp;&nbsp;1512 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89193 |
| Reckitt Benckiser Group PLC | &nbsp;&nbsp;79116 | &nbsp;&nbsp;&nbsp;&nbsp;5389932 |
| Spectrum Brands Holdings, Inc. | &nbsp;&nbsp;&nbsp;3729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197637 |
| The Clorox Company | &nbsp;&nbsp;&nbsp;8702 | &nbsp;&nbsp;&nbsp;&nbsp;1044849 |
| The Procter & Gamble Company | 165540 | &nbsp;&nbsp;&nbsp;26373833 |
| Unicharm Corp. | 129663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;936268 |
| WD-40 Company | &nbsp;&nbsp;&nbsp;2005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;457320 |
|  |  | &nbsp;&nbsp;&nbsp;47679112 |
| **Personal care products – 0.6%** | **Personal care products – 0.6%** |  |
| Beiersdorf AG | &nbsp;&nbsp;11510 | &nbsp;&nbsp;&nbsp;&nbsp;1446784 |
| BellRing Brands, Inc. (A) | &nbsp;&nbsp;20734 | &nbsp;&nbsp;&nbsp;&nbsp;1201121 |
| Coty, Inc., Class A (A) | &nbsp;&nbsp;59815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;278140 |
| e.l.f. Beauty, Inc. (A) | &nbsp;&nbsp;&nbsp;9208 | &nbsp;&nbsp;&nbsp;&nbsp;1145844 |
| Edgewell Personal Care Company | &nbsp;&nbsp;&nbsp;6920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161997 |
| Herbalife, Ltd. (A) | &nbsp;&nbsp;15079 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129981 |
| Interparfums, Inc. | &nbsp;&nbsp;&nbsp;2698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;354274 |
| Kao Corp. (C) | &nbsp;&nbsp;54058 | &nbsp;&nbsp;&nbsp;&nbsp;2422100 |
| Kenvue, Inc. | 135559 | &nbsp;&nbsp;&nbsp;&nbsp;2837250 |
| Lifevantage Corp. | &nbsp;&nbsp;&nbsp;1718 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22471 |
| L'Oreal SA | &nbsp;&nbsp;27898 | &nbsp;&nbsp;&nbsp;11950213 |
| Medifast, Inc. (A) | &nbsp;&nbsp;&nbsp;1872 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26302 |
| Nature's Sunshine Products, Inc. (A) | &nbsp;&nbsp;&nbsp;1999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29565 |
| Nu Skin Enterprises, Inc., Class A | &nbsp;&nbsp;&nbsp;7064 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56441 |
| Olaplex Holdings, Inc. (A) | &nbsp;&nbsp;22301 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31221 |
| Shiseido Company, Ltd. | &nbsp;&nbsp;46411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;828931 |
| The Beauty Health Company (A) | &nbsp;&nbsp;18113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34596 |
| The Estee Lauder Companies, Inc., Class A | &nbsp;&nbsp;16536 | &nbsp;&nbsp;&nbsp;&nbsp;1336109 |
| The Honest Company, Inc. (A) | &nbsp;&nbsp;13851 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70502 |
| Unilever PLC | 290252 | &nbsp;&nbsp;&nbsp;17712976 |
| USANA Health Sciences, Inc. (A) | &nbsp;&nbsp;&nbsp;1806 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55137 |
|  |  | &nbsp;&nbsp;&nbsp;42131955 |
| **Tobacco – 0.6%** | **Tobacco – 0.6%** |  |
| Altria Group, Inc. | 118931 | &nbsp;&nbsp;&nbsp;&nbsp;6972925 |
| British American Tobacco PLC | 229850 | &nbsp;&nbsp;&nbsp;10928520 |
| Imperial Brands PLC | &nbsp;&nbsp;90766 | &nbsp;&nbsp;&nbsp;&nbsp;3586176 |
| Japan Tobacco, Inc. (C) | 139235 | &nbsp;&nbsp;&nbsp;&nbsp;4101782 |
| Philip Morris International, Inc. | 109900 | &nbsp;&nbsp;&nbsp;20016087 |
| Turning Point Brands, Inc. | &nbsp;&nbsp;&nbsp;2568 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194577 |
| Universal Corp. | &nbsp;&nbsp;&nbsp;3560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207334 |
|  |  | &nbsp;&nbsp;&nbsp;46007401 |
|  |  | 410641764 |
| **Energy – 3.1%** |  |  |
| **Energy equipment and services – 0.3%** | **Energy equipment and services – 0.3%** |  |
| Archrock, Inc. | &nbsp;&nbsp;24329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;604089 |
| Aris Water Solutions, Inc., Class A | &nbsp;&nbsp;&nbsp;4617 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109192 |
| Atlas Energy Solutions, Inc. (C) | &nbsp;&nbsp;11546 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154370 |
| Baker Hughes Company | &nbsp;&nbsp;69953 | &nbsp;&nbsp;&nbsp;&nbsp;2681998 |
| Borr Drilling, Ltd. (A) | &nbsp;&nbsp;33687 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61647 |
| Bristow Group, Inc. (A) | &nbsp;&nbsp;&nbsp;4302 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141837 |
| Cactus, Inc., Class A | &nbsp;&nbsp;10053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;439517 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Energy equipment and services (continued)** | **Energy equipment and services (continued)** |  |
| ChampionX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;59284 | $&nbsp;&nbsp;&nbsp;1472615 |
| Core Laboratories, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;7320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84326 |
| DMC Global, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;3109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25059 |
| Expro Group Holdings NV (A) | &nbsp;&nbsp;&nbsp;&nbsp;15366 | &nbsp;&nbsp;&nbsp;&nbsp;131994 |
| Flowco Holdings, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;2985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53163 |
| Forum Energy Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;1883 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36662 |
| Halliburton Company | &nbsp;&nbsp;&nbsp;&nbsp;60700 | &nbsp;&nbsp;&nbsp;1237066 |
| Helix Energy Solutions Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;21172 | &nbsp;&nbsp;&nbsp;&nbsp;132113 |
| Helmerich & Payne, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14211 | &nbsp;&nbsp;&nbsp;&nbsp;215439 |
| Innovex International, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;5913 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92361 |
| Kodiak Gas Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;7967 | &nbsp;&nbsp;&nbsp;&nbsp;273029 |
| Liberty Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;23310 | &nbsp;&nbsp;&nbsp;&nbsp;267599 |
| Nabors Industries, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;2186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61252 |
| National Energy Services Reunited Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;9206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55420 |
| Natural Gas Services Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;1564 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40367 |
| Noble Corp. PLC | &nbsp;&nbsp;&nbsp;&nbsp;18499 | &nbsp;&nbsp;&nbsp;&nbsp;491148 |
| NOV, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;61345 | &nbsp;&nbsp;&nbsp;&nbsp;762518 |
| Oceaneering International, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;13973 | &nbsp;&nbsp;&nbsp;&nbsp;289521 |
| Oil States International, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;8593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46058 |
| Patterson-UTI Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;51997 | &nbsp;&nbsp;&nbsp;&nbsp;308342 |
| ProPetro Holding Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;12166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72631 |
| Ranger Energy Services, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;3031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36190 |
| RPC, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13766 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65113 |
| Schlumberger, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;96038 | &nbsp;&nbsp;&nbsp;3246084 |
| Seadrill, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;9241 | &nbsp;&nbsp;&nbsp;&nbsp;242576 |
| Select Water Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14087 | &nbsp;&nbsp;&nbsp;&nbsp;121712 |
| Solaris Energy Infrastructure, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;5462 | &nbsp;&nbsp;&nbsp;&nbsp;154520 |
| Tenaris SA | &nbsp;&nbsp;&nbsp;&nbsp;47219 | &nbsp;&nbsp;&nbsp;&nbsp;885106 |
| TETRA Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;19748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66353 |
| Tidewater, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;7463 | &nbsp;&nbsp;&nbsp;&nbsp;344268 |
| Transocean, Ltd. (A) | &nbsp;&nbsp;110417 | &nbsp;&nbsp;&nbsp;&nbsp;285980 |
| Valaris, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;20033 | &nbsp;&nbsp;&nbsp;&nbsp;843590 |
| Weatherford International PLC | &nbsp;&nbsp;&nbsp;&nbsp;11846 | &nbsp;&nbsp;&nbsp;&nbsp;595972 |
|  |  | 17228797 |
| **Oil, gas and consumable fuels – 2.8%** | **Oil, gas and consumable fuels – 2.8%** |  |
| Aker BP ASA | &nbsp;&nbsp;&nbsp;&nbsp;36664 | &nbsp;&nbsp;&nbsp;&nbsp;936926 |
| Antero Midstream Corp. | &nbsp;&nbsp;&nbsp;&nbsp;54768 | &nbsp;&nbsp;&nbsp;1037854 |
| Antero Resources Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;47657 | &nbsp;&nbsp;&nbsp;1919624 |
| APA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;25477 | &nbsp;&nbsp;&nbsp;&nbsp;465974 |
| Ardmore Shipping Corp. | &nbsp;&nbsp;&nbsp;&nbsp;5065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48624 |
| Berry Corp. | &nbsp;&nbsp;&nbsp;&nbsp;12852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35600 |
| BKV Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;2634 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63532 |
| BP PLC | 1858459 | &nbsp;&nbsp;&nbsp;9259384 |
| California Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;9648 | &nbsp;&nbsp;&nbsp;&nbsp;440624 |
| Calumet, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;10318 | &nbsp;&nbsp;&nbsp;&nbsp;162560 |
| Centrus Energy Corp., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;2188 | &nbsp;&nbsp;&nbsp;&nbsp;400798 |
| Chevron Corp. | &nbsp;&nbsp;114675 | 16420313 |
| Chord Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;9429 | &nbsp;&nbsp;&nbsp;&nbsp;913199 |
| Civitas Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13906 | &nbsp;&nbsp;&nbsp;&nbsp;382693 |
| Clean Energy Fuels Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;27531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53685 |
| CNX Resources Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;44658 | &nbsp;&nbsp;&nbsp;1504081 |
| Comstock Resources, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;11013 | &nbsp;&nbsp;&nbsp;&nbsp;304730 |
| ConocoPhillips | &nbsp;&nbsp;&nbsp;&nbsp;89134 | &nbsp;&nbsp;&nbsp;7998885 |
| Core Natural Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;7806 | &nbsp;&nbsp;&nbsp;&nbsp;544390 |
| Coterra Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;53891 | &nbsp;&nbsp;&nbsp;1367754 |
| Crescent Energy Company, Class A | &nbsp;&nbsp;&nbsp;&nbsp;26373 | &nbsp;&nbsp;&nbsp;&nbsp;226808 |
| CVR Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;4637 | &nbsp;&nbsp;&nbsp;&nbsp;124503 |
| Delek US Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;9067 | &nbsp;&nbsp;&nbsp;&nbsp;192039 |
| Devon Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;45337 | &nbsp;&nbsp;&nbsp;1442170 |
| DHT Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;18751 | &nbsp;&nbsp;&nbsp;&nbsp;202698 |
| Diamondback Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13203 | &nbsp;&nbsp;&nbsp;1814092 |
| Diversified Energy Company PLC | &nbsp;&nbsp;&nbsp;&nbsp;8351 | &nbsp;&nbsp;&nbsp;&nbsp;122509 |
| Dorian LPG, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;5472 | &nbsp;&nbsp;&nbsp;&nbsp;133407 |
| DT Midstream, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16586 | &nbsp;&nbsp;&nbsp;1822967 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 122 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Oil, gas and consumable fuels (continued)** | **Oil, gas and consumable fuels (continued)** |  |
| Encore Energy Corp. (A)(C) | &nbsp;&nbsp;28309 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80964 |
| ENEOS Holdings, Inc. | 316709 | &nbsp;&nbsp;&nbsp;1569873 |
| Energy Fuels, Inc. (A)(C) | &nbsp;&nbsp;31067 | &nbsp;&nbsp;&nbsp;&nbsp;178635 |
| Eni SpA | 255584 | &nbsp;&nbsp;&nbsp;4128735 |
| EOG Resources, Inc. | &nbsp;&nbsp;38536 | &nbsp;&nbsp;&nbsp;4609291 |
| Epsilon Energy, Ltd. | &nbsp;&nbsp;&nbsp;3762 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27764 |
| EQT Corp. | &nbsp;&nbsp;42267 | &nbsp;&nbsp;&nbsp;2465011 |
| Equinor ASA | &nbsp;&nbsp;97212 | &nbsp;&nbsp;&nbsp;2454997 |
| Evolution Petroleum Corp. | &nbsp;&nbsp;&nbsp;5619 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26409 |
| Excelerate Energy, Inc., Class A | &nbsp;&nbsp;&nbsp;3431 | &nbsp;&nbsp;&nbsp;&nbsp;100597 |
| Expand Energy Corp. | &nbsp;&nbsp;15291 | &nbsp;&nbsp;&nbsp;1788130 |
| Exxon Mobil Corp. | 304314 | 32805049 |
| FLEX LNG, Ltd. (New York Stock Exchange) (C) | &nbsp;&nbsp;&nbsp;4511 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99152 |
| Galp Energia SGPS SA | &nbsp;&nbsp;48412 | &nbsp;&nbsp;&nbsp;&nbsp;886223 |
| Gevo, Inc. (A) | &nbsp;&nbsp;35200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46464 |
| Golar LNG, Ltd. | &nbsp;&nbsp;14709 | &nbsp;&nbsp;&nbsp;&nbsp;605864 |
| Granite Ridge Resources, Inc. | &nbsp;&nbsp;&nbsp;9129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58152 |
| Green Plains, Inc. (A) | &nbsp;&nbsp;10123 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61042 |
| Gulfport Energy Corp. (A) | &nbsp;&nbsp;&nbsp;2243 | &nbsp;&nbsp;&nbsp;&nbsp;451224 |
| Hallador Energy Company (A) | &nbsp;&nbsp;&nbsp;4690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74243 |
| Hess Corp. | &nbsp;&nbsp;19575 | &nbsp;&nbsp;&nbsp;2711921 |
| HF Sinclair Corp. | &nbsp;&nbsp;26147 | &nbsp;&nbsp;&nbsp;1074119 |
| HighPeak Energy, Inc. (C) | &nbsp;&nbsp;&nbsp;3097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30351 |
| Idemitsu Kosan Company, Ltd. | &nbsp;&nbsp;94551 | &nbsp;&nbsp;&nbsp;&nbsp;573393 |
| Infinity Natural Resources, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;2343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42900 |
| Inpex Corp. (C) | 102271 | &nbsp;&nbsp;&nbsp;1435595 |
| International Seaways, Inc. | &nbsp;&nbsp;&nbsp;5922 | &nbsp;&nbsp;&nbsp;&nbsp;216035 |
| Kinder Morgan, Inc. | 136495 | &nbsp;&nbsp;&nbsp;4012953 |
| Kinetik Holdings, Inc. | &nbsp;&nbsp;&nbsp;6540 | &nbsp;&nbsp;&nbsp;&nbsp;288087 |
| Kosmos Energy, Ltd. (A) | &nbsp;&nbsp;72071 | &nbsp;&nbsp;&nbsp;&nbsp;123962 |
| Lightbridge Corp. (A) | &nbsp;&nbsp;&nbsp;2825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37770 |
| Magnolia Oil & Gas Corp., Class A | &nbsp;&nbsp;27275 | &nbsp;&nbsp;&nbsp;&nbsp;613142 |
| Marathon Petroleum Corp. | &nbsp;&nbsp;21691 | &nbsp;&nbsp;&nbsp;3603092 |
| Matador Resources Company | &nbsp;&nbsp;19010 | &nbsp;&nbsp;&nbsp;&nbsp;907157 |
| Murphy Oil Corp. | &nbsp;&nbsp;41677 | &nbsp;&nbsp;&nbsp;&nbsp;937733 |
| NACCO Industries, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;646 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28624 |
| Navigator Holdings, Ltd. | &nbsp;&nbsp;&nbsp;4859 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68755 |
| Neste OYJ | &nbsp;&nbsp;49088 | &nbsp;&nbsp;&nbsp;&nbsp;665248 |
| New Fortress Energy, Inc. | &nbsp;&nbsp;25708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85351 |
| NextDecade Corp. (A) | &nbsp;&nbsp;20019 | &nbsp;&nbsp;&nbsp;&nbsp;178369 |
| Nordic American Tankers, Ltd. | &nbsp;&nbsp;30651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80612 |
| Northern Oil and Gas, Inc. | &nbsp;&nbsp;13540 | &nbsp;&nbsp;&nbsp;&nbsp;383859 |
| Occidental Petroleum Corp. | &nbsp;&nbsp;50030 | &nbsp;&nbsp;&nbsp;2101760 |
| OMV AG | &nbsp;&nbsp;17087 | &nbsp;&nbsp;&nbsp;&nbsp;929211 |
| ONEOK, Inc. | &nbsp;&nbsp;44104 | &nbsp;&nbsp;&nbsp;3600210 |
| Ovintiv, Inc. | &nbsp;&nbsp;42419 | &nbsp;&nbsp;&nbsp;1614043 |
| Par Pacific Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;7939 | &nbsp;&nbsp;&nbsp;&nbsp;210622 |
| PBF Energy, Inc., Class A | &nbsp;&nbsp;28476 | &nbsp;&nbsp;&nbsp;&nbsp;617075 |
| Peabody Energy Corp. | &nbsp;&nbsp;18037 | &nbsp;&nbsp;&nbsp;&nbsp;242057 |
| Permian Resources Corp. | 104122 | &nbsp;&nbsp;&nbsp;1418142 |
| Phillips 66 | &nbsp;&nbsp;28768 | &nbsp;&nbsp;&nbsp;3432022 |
| Range Resources Corp. | &nbsp;&nbsp;39016 | &nbsp;&nbsp;&nbsp;1586781 |
| Repsol SA | 134292 | &nbsp;&nbsp;&nbsp;1964209 |
| REX American Resources Corp. (A) | &nbsp;&nbsp;&nbsp;2211 | &nbsp;&nbsp;&nbsp;&nbsp;107698 |
| Riley Exploration Permian, Inc. | &nbsp;&nbsp;&nbsp;2080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54558 |
| Sable Offshore Corp. (A) | &nbsp;&nbsp;10181 | &nbsp;&nbsp;&nbsp;&nbsp;223778 |
| SandRidge Energy, Inc. | &nbsp;&nbsp;&nbsp;5723 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61923 |
| Santos, Ltd. | 376831 | &nbsp;&nbsp;&nbsp;1899931 |
| Scorpio Tankers, Inc. | &nbsp;&nbsp;&nbsp;6390 | &nbsp;&nbsp;&nbsp;&nbsp;250041 |
| SFL Corp., Ltd. | &nbsp;&nbsp;18048 | &nbsp;&nbsp;&nbsp;&nbsp;150340 |
| Shell PLC | 694548 | 24232444 |
| Sitio Royalties Corp., Class A | &nbsp;&nbsp;11728 | &nbsp;&nbsp;&nbsp;&nbsp;215561 |
| SM Energy Company | &nbsp;&nbsp;16764 | &nbsp;&nbsp;&nbsp;&nbsp;414238 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Oil, gas and consumable fuels (continued)** | **Oil, gas and consumable fuels (continued)** |  |
| Summit Midstream Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;1512 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37089 |
| Talos Energy, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;18282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155031 |
| Targa Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;15317 | &nbsp;&nbsp;&nbsp;&nbsp;2666383 |
| Teekay Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;7779 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64177 |
| Teekay Tankers, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;3541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147731 |
| Texas Pacific Land Corp. | &nbsp;&nbsp;&nbsp;&nbsp;1331 | &nbsp;&nbsp;&nbsp;&nbsp;1406055 |
| The Williams Companies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;86211 | &nbsp;&nbsp;&nbsp;&nbsp;5414913 |
| TotalEnergies SE | &nbsp;&nbsp;237053 | &nbsp;&nbsp;&nbsp;14489314 |
| Uranium Energy Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;63128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;429270 |
| VAALCO Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58626 |
| Valero Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;22114 | &nbsp;&nbsp;&nbsp;&nbsp;2972564 |
| Viper Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;21402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;816058 |
| Vital Energy, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;4511 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72582 |
| Vitesse Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;4426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97770 |
| W&T Offshore, Inc. (C) | &nbsp;&nbsp;&nbsp;&nbsp;17218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28410 |
| Woodside Energy Group, Ltd. | &nbsp;&nbsp;220309 | &nbsp;&nbsp;&nbsp;&nbsp;3403093 |
| World Kinect Corp. | &nbsp;&nbsp;&nbsp;&nbsp;8037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227849 |
|  |  | 198772829 |
|  |  | 216001626 |
| **Financials – 17.2%** |  |  |
| **Banks – 7.1%** | **Banks – 7.1%** |  |
| 1st Source Corp. | &nbsp;&nbsp;&nbsp;&nbsp;2808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174293 |
| ABN AMRO Bank NV (B) | &nbsp;&nbsp;&nbsp;&nbsp;53162 | &nbsp;&nbsp;&nbsp;&nbsp;1451639 |
| ACNB Corp. | &nbsp;&nbsp;&nbsp;&nbsp;1621 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69444 |
| AIB Group PLC | &nbsp;&nbsp;243149 | &nbsp;&nbsp;&nbsp;&nbsp;2006672 |
| Amalgamated Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;3547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110666 |
| Amerant Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;5768 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105151 |
| Ameris Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;9532 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;616720 |
| Ames National Corp. | &nbsp;&nbsp;&nbsp;&nbsp;1471 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26199 |
| ANZ Group Holdings, Ltd. | &nbsp;&nbsp;344765 | &nbsp;&nbsp;&nbsp;&nbsp;6611485 |
| Arrow Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;2767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73104 |
| Associated Banc-Corp. | &nbsp;&nbsp;&nbsp;&nbsp;50103 | &nbsp;&nbsp;&nbsp;&nbsp;1222012 |
| Atlantic Union Bankshares Corp. | &nbsp;&nbsp;&nbsp;&nbsp;20951 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;655347 |
| Axos Financial, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;7614 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;578969 |
| Banc of California, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;19823 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;278513 |
| BancFirst Corp. | &nbsp;&nbsp;&nbsp;&nbsp;3103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;383593 |
| Banco Bilbao Vizcaya Argentaria SA | &nbsp;&nbsp;668707 | &nbsp;&nbsp;&nbsp;10296934 |
| Banco BPM SpA | &nbsp;&nbsp;131854 | &nbsp;&nbsp;&nbsp;&nbsp;1539070 |
| Banco de Sabadell SA | &nbsp;&nbsp;625128 | &nbsp;&nbsp;&nbsp;&nbsp;1990127 |
| Banco Santander SA | 1758123 | &nbsp;&nbsp;&nbsp;14558801 |
| Bank First Corp. | &nbsp;&nbsp;&nbsp;&nbsp;1421 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167181 |
| Bank Hapoalim BM | &nbsp;&nbsp;145598 | &nbsp;&nbsp;&nbsp;&nbsp;2796655 |
| Bank Leumi Le-Israel BM | &nbsp;&nbsp;174003 | &nbsp;&nbsp;&nbsp;&nbsp;3237419 |
| Bank of America Corp. | &nbsp;&nbsp;462665 | &nbsp;&nbsp;&nbsp;21893308 |
| Bank of Hawaii Corp. | &nbsp;&nbsp;&nbsp;&nbsp;5654 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;381815 |
| Bank of Ireland Group PLC | &nbsp;&nbsp;114302 | &nbsp;&nbsp;&nbsp;&nbsp;1628818 |
| Bank of Marin Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;2446 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55867 |
| Bank OZK | &nbsp;&nbsp;&nbsp;&nbsp;17249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;811738 |
| Bank7 Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;713 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29825 |
| Bankinter SA | &nbsp;&nbsp;&nbsp;&nbsp;78218 | &nbsp;&nbsp;&nbsp;&nbsp;1021095 |
| BankUnited, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10805 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;384550 |
| Bankwell Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;1124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40498 |
| Banner Corp. | &nbsp;&nbsp;&nbsp;&nbsp;4860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;311769 |
| Banque Cantonale Vaudoise | &nbsp;&nbsp;&nbsp;&nbsp;3495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;403088 |
| Bar Harbor Bankshares | &nbsp;&nbsp;&nbsp;&nbsp;2491 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74630 |
| Barclays PLC | 1659387 | &nbsp;&nbsp;&nbsp;&nbsp;7667639 |
| BayCom Corp. | &nbsp;&nbsp;&nbsp;&nbsp;1894 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52483 |
| BCB Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;3368 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28359 |
| Berkshire Hills Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;7148 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178986 |
| Blue Foundry Bancorp (A) | &nbsp;&nbsp;&nbsp;&nbsp;3929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37601 |
| Blue Ridge Bankshares, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;10349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37153 |
| BNP Paribas SA | &nbsp;&nbsp;118086 | &nbsp;&nbsp;&nbsp;10592515 |
| BOC Hong Kong Holdings, Ltd. | &nbsp;&nbsp;429362 | &nbsp;&nbsp;&nbsp;&nbsp;1869117 |
| BPER Banca SpA | &nbsp;&nbsp;115465 | &nbsp;&nbsp;&nbsp;&nbsp;1047992 |
| Bridgewater Bancshares, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;3356 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53394 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 123 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Banks (continued)** | **Banks (continued)** |  |
| Brookline Bancorp, Inc. | &nbsp;&nbsp;13965 | $&nbsp;&nbsp;&nbsp;&nbsp;147331 |
| Burke & Herbert Financial Services Corp. | &nbsp;&nbsp;&nbsp;2019 | &nbsp;&nbsp;&nbsp;&nbsp;120595 |
| Business First Bancshares, Inc. | &nbsp;&nbsp;&nbsp;4578 | &nbsp;&nbsp;&nbsp;&nbsp;112848 |
| BV Financial, Inc. (A) | &nbsp;&nbsp;&nbsp;1527 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23256 |
| Byline Bancorp, Inc. | &nbsp;&nbsp;&nbsp;4815 | &nbsp;&nbsp;&nbsp;&nbsp;128705 |
| C&F Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31174 |
| Cadence Bank | &nbsp;&nbsp;55759 | &nbsp;&nbsp;&nbsp;1783173 |
| CaixaBank SA | 457872 | &nbsp;&nbsp;&nbsp;3967376 |
| California BanCorp (A) | &nbsp;&nbsp;&nbsp;3371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53127 |
| Camden National Corp. | &nbsp;&nbsp;&nbsp;2510 | &nbsp;&nbsp;&nbsp;&nbsp;101856 |
| Capital Bancorp, Inc. | &nbsp;&nbsp;&nbsp;2012 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67563 |
| Capital City Bank Group, Inc. | &nbsp;&nbsp;&nbsp;2338 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92000 |
| Capitol Federal Financial, Inc. | &nbsp;&nbsp;18935 | &nbsp;&nbsp;&nbsp;&nbsp;115504 |
| Carter Bankshares, Inc. (A) | &nbsp;&nbsp;&nbsp;3708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64297 |
| Cathay General Bancorp | &nbsp;&nbsp;&nbsp;9776 | &nbsp;&nbsp;&nbsp;&nbsp;445101 |
| CB Financial Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24368 |
| Central Pacific Financial Corp. | &nbsp;&nbsp;&nbsp;3938 | &nbsp;&nbsp;&nbsp;&nbsp;110382 |
| Chemung Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;744 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36062 |
| ChoiceOne Financial Services, Inc. | &nbsp;&nbsp;&nbsp;2143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61504 |
| Citigroup, Inc. | 131874 | 11225115 |
| Citizens & Northern Corp. | &nbsp;&nbsp;&nbsp;2674 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50646 |
| Citizens Financial Group, Inc. | &nbsp;&nbsp;30620 | &nbsp;&nbsp;&nbsp;1370245 |
| Citizens Financial Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;756 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44392 |
| City Holding Company | &nbsp;&nbsp;&nbsp;2066 | &nbsp;&nbsp;&nbsp;&nbsp;252920 |
| Civista Bancshares, Inc. | &nbsp;&nbsp;&nbsp;2615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60668 |
| CNB Financial Corp. | &nbsp;&nbsp;&nbsp;3846 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87920 |
| Coastal Financial Corp. (A) | &nbsp;&nbsp;&nbsp;1928 | &nbsp;&nbsp;&nbsp;&nbsp;186765 |
| Colony Bankcorp, Inc. | &nbsp;&nbsp;&nbsp;3071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50579 |
| Columbia Banking System, Inc. | &nbsp;&nbsp;34318 | &nbsp;&nbsp;&nbsp;&nbsp;802355 |
| Columbia Financial, Inc. (A) | &nbsp;&nbsp;&nbsp;4814 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69851 |
| Comerica, Inc. | &nbsp;&nbsp;21455 | &nbsp;&nbsp;&nbsp;1279791 |
| Commerce Bancshares, Inc. | &nbsp;&nbsp;19824 | &nbsp;&nbsp;&nbsp;1232458 |
| Commerzbank AG | 103092 | &nbsp;&nbsp;&nbsp;3248741 |
| Commonwealth Bank of Australia | 194170 | 23632096 |
| Community Financial System, Inc. | &nbsp;&nbsp;&nbsp;7785 | &nbsp;&nbsp;&nbsp;&nbsp;442733 |
| Community Trust Bancorp, Inc. | &nbsp;&nbsp;&nbsp;2514 | &nbsp;&nbsp;&nbsp;&nbsp;133041 |
| Community West Bancshares | &nbsp;&nbsp;&nbsp;2713 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52931 |
| Concordia Financial Group, Ltd. | 119528 | &nbsp;&nbsp;&nbsp;&nbsp;775709 |
| ConnectOne Bancorp, Inc. | &nbsp;&nbsp;&nbsp;7151 | &nbsp;&nbsp;&nbsp;&nbsp;165617 |
| Credit Agricole SA | 122883 | &nbsp;&nbsp;&nbsp;2324736 |
| Cullen/Frost Bankers, Inc. | &nbsp;&nbsp;10496 | &nbsp;&nbsp;&nbsp;1349156 |
| Customers Bancorp, Inc. (A) | &nbsp;&nbsp;&nbsp;4313 | &nbsp;&nbsp;&nbsp;&nbsp;253346 |
| CVB Financial Corp. | &nbsp;&nbsp;19301 | &nbsp;&nbsp;&nbsp;&nbsp;381967 |
| Danske Bank A/S | &nbsp;&nbsp;80032 | &nbsp;&nbsp;&nbsp;3268811 |
| DBS Group Holdings, Ltd. | 247156 | &nbsp;&nbsp;&nbsp;8725113 |
| Dime Community Bancshares, Inc. | &nbsp;&nbsp;&nbsp;5980 | &nbsp;&nbsp;&nbsp;&nbsp;161101 |
| DNB Bank ASA | 103905 | &nbsp;&nbsp;&nbsp;2873449 |
| Eagle Bancorp, Inc. | &nbsp;&nbsp;&nbsp;4498 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87621 |
| Eagle Financial Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;757 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23179 |
| East West Bancorp, Inc. | &nbsp;&nbsp;22502 | &nbsp;&nbsp;&nbsp;2272252 |
| Eastern Bankshares, Inc. | &nbsp;&nbsp;28673 | &nbsp;&nbsp;&nbsp;&nbsp;437837 |
| Enterprise Bancorp, Inc. | &nbsp;&nbsp;&nbsp;1615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64019 |
| Enterprise Financial Services Corp. | &nbsp;&nbsp;&nbsp;5374 | &nbsp;&nbsp;&nbsp;&nbsp;296107 |
| Equity Bancshares, Inc., Class A | &nbsp;&nbsp;&nbsp;2467 | &nbsp;&nbsp;&nbsp;&nbsp;100654 |
| Erste Group Bank AG | &nbsp;&nbsp;35723 | &nbsp;&nbsp;&nbsp;3040931 |
| Esquire Financial Holdings, Inc. | &nbsp;&nbsp;&nbsp;1092 | &nbsp;&nbsp;&nbsp;&nbsp;103369 |
| ESSA Bancorp, Inc. | &nbsp;&nbsp;&nbsp;1618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31389 |
| Farmers & Merchants Bancorp, Inc. | &nbsp;&nbsp;&nbsp;1954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49397 |
| Farmers National Banc Corp. | &nbsp;&nbsp;&nbsp;6400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88256 |
| FB Bancorp, Inc. (A) | &nbsp;&nbsp;&nbsp;2554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28733 |
| FB Financial Corp. | &nbsp;&nbsp;&nbsp;5177 | &nbsp;&nbsp;&nbsp;&nbsp;234518 |
| Fidelity D&D Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;761 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35006 |
| Fifth Third Bancorp | &nbsp;&nbsp;47129 | &nbsp;&nbsp;&nbsp;1938416 |
| Financial Institutions, Inc. | &nbsp;&nbsp;&nbsp;3163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81226 |
| FinecoBank SpA | &nbsp;&nbsp;70959 | &nbsp;&nbsp;&nbsp;1574122 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Banks (continued)** | **Banks (continued)** |  |
| First Bancorp (North Carolina) | &nbsp;&nbsp;&nbsp;&nbsp;5962 | $&nbsp;&nbsp;&nbsp;&nbsp;262865 |
| First Bancorp (Puerto Rico) | &nbsp;&nbsp;&nbsp;&nbsp;23299 | &nbsp;&nbsp;&nbsp;&nbsp;485318 |
| First Bank | &nbsp;&nbsp;&nbsp;&nbsp;3724 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57610 |
| First Busey Corp. | &nbsp;&nbsp;&nbsp;&nbsp;12574 | &nbsp;&nbsp;&nbsp;&nbsp;287756 |
| First Business Financial Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;1271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64389 |
| First Commonwealth Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;15348 | &nbsp;&nbsp;&nbsp;&nbsp;249098 |
| First Community Bankshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;2526 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98943 |
| First Community Corp. | &nbsp;&nbsp;&nbsp;&nbsp;1224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29841 |
| First Financial Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;13541 | &nbsp;&nbsp;&nbsp;&nbsp;328505 |
| First Financial Bankshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;40902 | &nbsp;&nbsp;&nbsp;1471654 |
| First Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;1684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91256 |
| First Financial Northwest, Inc. (A)(D) | &nbsp;&nbsp;&nbsp;&nbsp;1060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;594 |
| First Foundation, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;9867 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50322 |
| First Horizon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;82814 | &nbsp;&nbsp;&nbsp;1755657 |
| First Internet Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;1287 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34620 |
| First Interstate BancSystem, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;12541 | &nbsp;&nbsp;&nbsp;&nbsp;361432 |
| First Merchants Corp. | &nbsp;&nbsp;&nbsp;&nbsp;8539 | &nbsp;&nbsp;&nbsp;&nbsp;327044 |
| First Mid Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;3293 | &nbsp;&nbsp;&nbsp;&nbsp;123455 |
| First National Corp. | &nbsp;&nbsp;&nbsp;&nbsp;1307 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25447 |
| First Savings Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23913 |
| First United Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;973 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30173 |
| First Western Financial, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;1371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30930 |
| Firstsun Capital Bancorp (A) | &nbsp;&nbsp;&nbsp;&nbsp;1896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65886 |
| Five Star Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;2718 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77572 |
| Flagstar Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;94330 | &nbsp;&nbsp;&nbsp;&nbsp;999898 |
| Flushing Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;5282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62750 |
| FNB Corp. | &nbsp;&nbsp;&nbsp;&nbsp;58744 | &nbsp;&nbsp;&nbsp;&nbsp;856488 |
| Franklin Financial Services Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24064 |
| FS Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;1081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42570 |
| Fulton Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;25910 | &nbsp;&nbsp;&nbsp;&nbsp;467416 |
| FVCBankcorp, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;2783 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32839 |
| GBank Financial Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;1412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49999 |
| German American Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;5531 | &nbsp;&nbsp;&nbsp;&nbsp;212999 |
| Glacier Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;36065 | &nbsp;&nbsp;&nbsp;1553680 |
| Great Southern Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;1366 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80293 |
| Greene County Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;1239 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27531 |
| Guaranty Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;1441 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61156 |
| Hancock Whitney Corp. | &nbsp;&nbsp;&nbsp;&nbsp;26201 | &nbsp;&nbsp;&nbsp;1503937 |
| Hang Seng Bank, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;87358 | &nbsp;&nbsp;&nbsp;1310909 |
| Hanmi Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;4549 | &nbsp;&nbsp;&nbsp;&nbsp;112269 |
| HarborOne Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;6648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77649 |
| Hawthorn Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;969 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28237 |
| HBT Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;2406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60655 |
| Heritage Commerce Corp. | &nbsp;&nbsp;&nbsp;&nbsp;8513 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84534 |
| Heritage Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;5121 | &nbsp;&nbsp;&nbsp;&nbsp;122085 |
| Hilltop Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;6875 | &nbsp;&nbsp;&nbsp;&nbsp;208656 |
| Home Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;1121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58045 |
| Home BancShares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;57140 | &nbsp;&nbsp;&nbsp;1626204 |
| HomeStreet, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;2876 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37589 |
| HomeTrust Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;2687 | &nbsp;&nbsp;&nbsp;&nbsp;100521 |
| Hope Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;17602 | &nbsp;&nbsp;&nbsp;&nbsp;188869 |
| Horizon Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;6725 | &nbsp;&nbsp;&nbsp;&nbsp;103431 |
| HSBC Holdings PLC | 2050593 | 24804342 |
| Huntington Bancshares, Inc. | &nbsp;&nbsp;102861 | &nbsp;&nbsp;&nbsp;1723950 |
| Independent Bank Corp. (Massachusetts) | &nbsp;&nbsp;&nbsp;&nbsp;6179 | &nbsp;&nbsp;&nbsp;&nbsp;388566 |
| Independent Bank Corp. (Michigan) | &nbsp;&nbsp;&nbsp;&nbsp;3278 | &nbsp;&nbsp;&nbsp;&nbsp;106240 |
| ING Groep NV | &nbsp;&nbsp;365190 | &nbsp;&nbsp;&nbsp;8004121 |
| International Bancshares Corp. | &nbsp;&nbsp;&nbsp;&nbsp;16681 | &nbsp;&nbsp;&nbsp;1110287 |
| Intesa Sanpaolo SpA | 1755878 | 10114581 |
| Investar Holding Corp. | &nbsp;&nbsp;&nbsp;&nbsp;1501 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28999 |
| Israel Discount Bank, Ltd., Class A | &nbsp;&nbsp;142656 | &nbsp;&nbsp;&nbsp;1422954 |
| Japan Post Bank Company, Ltd. | &nbsp;&nbsp;209107 | &nbsp;&nbsp;&nbsp;2254284 |
| John Marshall Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;1961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36337 |
| JPMorgan Chase & Co. | &nbsp;&nbsp;196222 | 56886720 |
| KBC Group NV | &nbsp;&nbsp;&nbsp;&nbsp;26646 | &nbsp;&nbsp;&nbsp;2750123 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 124 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Banks (continued)** | **Banks (continued)** |  |
| Kearny Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;9144 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59070 |
| KeyCorp | &nbsp;&nbsp;&nbsp;&nbsp;69643 | &nbsp;&nbsp;&nbsp;1213181 |
| Lakeland Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;3798 | &nbsp;&nbsp;&nbsp;&nbsp;233387 |
| Landmark Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22474 |
| LCNB Corp. | &nbsp;&nbsp;&nbsp;&nbsp;2212 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32140 |
| LINKBANCORP, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;3609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26382 |
| Live Oak Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;5245 | &nbsp;&nbsp;&nbsp;&nbsp;156301 |
| Lloyds Banking Group PLC | 6978833 | &nbsp;&nbsp;&nbsp;7338351 |
| M&T Bank Corp. | &nbsp;&nbsp;&nbsp;&nbsp;11334 | &nbsp;&nbsp;&nbsp;2198683 |
| Mediobanca Banca di Credito Finanziario SpA (C) | &nbsp;&nbsp;&nbsp;&nbsp;58010 | &nbsp;&nbsp;&nbsp;1349949 |
| Mercantile Bank Corp. | &nbsp;&nbsp;&nbsp;&nbsp;2474 | &nbsp;&nbsp;&nbsp;&nbsp;114818 |
| Metrocity Bankshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;3487 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99658 |
| Metropolitan Bank Holding Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;1431 | &nbsp;&nbsp;&nbsp;&nbsp;100170 |
| Mid Penn Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;3037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85643 |
| Middlefield Banc Corp. | &nbsp;&nbsp;&nbsp;&nbsp;1157 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34837 |
| Midland States Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;3161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54749 |
| MidWestOne Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;3387 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97444 |
| Mitsubishi UFJ Financial Group, Inc. | 1330193 | 18135303 |
| Mizrahi Tefahot Bank, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;18043 | &nbsp;&nbsp;&nbsp;1176977 |
| Mizuho Financial Group, Inc. | &nbsp;&nbsp;277085 | &nbsp;&nbsp;&nbsp;7691859 |
| MVB Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;2094 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47178 |
| National Australia Bank, Ltd. | &nbsp;&nbsp;355340 | &nbsp;&nbsp;&nbsp;9209630 |
| National Bank Holdings Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;5535 | &nbsp;&nbsp;&nbsp;&nbsp;208171 |
| National Bankshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;923 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25106 |
| NatWest Group PLC | &nbsp;&nbsp;937288 | &nbsp;&nbsp;&nbsp;6582529 |
| NB Bancorp, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;5072 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90586 |
| NBT Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;7446 | &nbsp;&nbsp;&nbsp;&nbsp;309381 |
| Nicolet Bankshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;1999 | &nbsp;&nbsp;&nbsp;&nbsp;246837 |
| Nordea Bank ABP | &nbsp;&nbsp;364540 | &nbsp;&nbsp;&nbsp;5408938 |
| Northeast Bank | &nbsp;&nbsp;&nbsp;&nbsp;1105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98334 |
| Northeast Community Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;1977 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45955 |
| Northfield Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;6099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70017 |
| Northpointe Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;1801 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24692 |
| Northrim BanCorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;833 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77686 |
| Northwest Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;17561 | &nbsp;&nbsp;&nbsp;&nbsp;224430 |
| Norwood Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;1151 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29673 |
| Oak Valley Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;1038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28275 |
| OceanFirst Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;8381 | &nbsp;&nbsp;&nbsp;&nbsp;147589 |
| OFG Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;6621 | &nbsp;&nbsp;&nbsp;&nbsp;283379 |
| Old National Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;99552 | &nbsp;&nbsp;&nbsp;2124440 |
| Old Point Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;661 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25944 |
| Old Second Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;6296 | &nbsp;&nbsp;&nbsp;&nbsp;111691 |
| OP Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;2073 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26928 |
| Orange County Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;1592 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41137 |
| Origin Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;4533 | &nbsp;&nbsp;&nbsp;&nbsp;162009 |
| Orrstown Financial Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;2841 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90429 |
| Oversea-Chinese Banking Corp., Ltd. | &nbsp;&nbsp;392896 | &nbsp;&nbsp;&nbsp;5038229 |
| Pacific Premier Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13953 | &nbsp;&nbsp;&nbsp;&nbsp;294269 |
| Park National Corp. | &nbsp;&nbsp;&nbsp;&nbsp;2177 | &nbsp;&nbsp;&nbsp;&nbsp;364125 |
| Parke Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;1666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33936 |
| Pathward Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;3386 | &nbsp;&nbsp;&nbsp;&nbsp;267900 |
| PCB Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43051 |
| Peapack-Gladstone Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;2604 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73563 |
| Penns Woods Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;1177 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35734 |
| Peoples Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;5319 | &nbsp;&nbsp;&nbsp;&nbsp;162442 |
| Peoples Financial Services Corp. | &nbsp;&nbsp;&nbsp;&nbsp;1442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71192 |
| Pinnacle Financial Partners, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12551 | &nbsp;&nbsp;&nbsp;1385756 |
| Pioneer Bancorp, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;1705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20511 |
| Plumas Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;927 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41214 |
| Ponce Financial Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;3231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44717 |
| Preferred Bank | &nbsp;&nbsp;&nbsp;&nbsp;1731 | &nbsp;&nbsp;&nbsp;&nbsp;149809 |
| Primis Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;3821 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41458 |
| Princeton Bancorp, Inc. (C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;727 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22203 |
| Prosperity Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;15556 | &nbsp;&nbsp;&nbsp;1092653 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Banks (continued)** | **Banks (continued)** |  |
| Provident Bancorp, Inc. (A) | &nbsp;&nbsp;&nbsp;3136 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39169 |
| Provident Financial Services, Inc. | &nbsp;&nbsp;18767 | &nbsp;&nbsp;&nbsp;&nbsp;328986 |
| QCR Holdings, Inc. | &nbsp;&nbsp;&nbsp;2401 | &nbsp;&nbsp;&nbsp;&nbsp;163028 |
| RBB Bancorp | &nbsp;&nbsp;&nbsp;2804 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48257 |
| Red River Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43732 |
| Regions Financial Corp. | &nbsp;&nbsp;63468 | &nbsp;&nbsp;&nbsp;1492767 |
| Renasant Corp. | &nbsp;&nbsp;13594 | &nbsp;&nbsp;&nbsp;&nbsp;488432 |
| Republic Bancorp, Inc., Class A | &nbsp;&nbsp;&nbsp;1334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97529 |
| Resona Holdings, Inc. | 240925 | &nbsp;&nbsp;&nbsp;2225138 |
| Richmond Mutual BanCorp, Inc. | &nbsp;&nbsp;&nbsp;1620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22356 |
| Riverview Bancorp, Inc. | &nbsp;&nbsp;&nbsp;3963 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21797 |
| S&T Bancorp, Inc. | &nbsp;&nbsp;&nbsp;5824 | &nbsp;&nbsp;&nbsp;&nbsp;220264 |
| Seacoast Banking Corp. of Florida | &nbsp;&nbsp;12712 | &nbsp;&nbsp;&nbsp;&nbsp;351105 |
| ServisFirst Bancshares, Inc. | &nbsp;&nbsp;&nbsp;7615 | &nbsp;&nbsp;&nbsp;&nbsp;590239 |
| Shore Bancshares, Inc. | &nbsp;&nbsp;&nbsp;5031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79087 |
| Sierra Bancorp | &nbsp;&nbsp;&nbsp;2125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63091 |
| Simmons First National Corp., Class A | &nbsp;&nbsp;18196 | &nbsp;&nbsp;&nbsp;&nbsp;344996 |
| Skandinaviska Enskilda Banken AB, A Shares | 184123 | &nbsp;&nbsp;&nbsp;3209361 |
| SmartFinancial, Inc. | &nbsp;&nbsp;&nbsp;2364 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79856 |
| Societe Generale SA | &nbsp;&nbsp;83574 | &nbsp;&nbsp;&nbsp;4780784 |
| South Plains Financial, Inc. | &nbsp;&nbsp;&nbsp;2307 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83144 |
| Southern First Bancshares, Inc. (A) | &nbsp;&nbsp;&nbsp;1328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50504 |
| Southern Missouri Bancorp, Inc. | &nbsp;&nbsp;&nbsp;1516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83046 |
| Southern States Bancshares, Inc. | &nbsp;&nbsp;&nbsp;1360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49463 |
| Southside Bancshares, Inc. | &nbsp;&nbsp;&nbsp;4525 | &nbsp;&nbsp;&nbsp;&nbsp;133171 |
| SouthState Corp. | &nbsp;&nbsp;16073 | &nbsp;&nbsp;&nbsp;1479198 |
| Standard Chartered PLC | 234230 | &nbsp;&nbsp;&nbsp;3876162 |
| Stellar Bancorp, Inc. | &nbsp;&nbsp;&nbsp;6902 | &nbsp;&nbsp;&nbsp;&nbsp;193118 |
| Stock Yards Bancorp, Inc. | &nbsp;&nbsp;&nbsp;3932 | &nbsp;&nbsp;&nbsp;&nbsp;310549 |
| Sumitomo Mitsui Financial Group, Inc. | 428172 | 10781779 |
| Sumitomo Mitsui Trust Group, Inc. | &nbsp;&nbsp;74487 | &nbsp;&nbsp;&nbsp;1981163 |
| Svenska Handelsbanken AB, A Shares | 169240 | &nbsp;&nbsp;&nbsp;2265664 |
| Swedbank AB, A Shares | &nbsp;&nbsp;98509 | &nbsp;&nbsp;&nbsp;2609141 |
| Synovus Financial Corp. | &nbsp;&nbsp;22696 | &nbsp;&nbsp;&nbsp;1174518 |
| Texas Capital Bancshares, Inc. (A) | &nbsp;&nbsp;14077 | &nbsp;&nbsp;&nbsp;1117714 |
| The Bancorp, Inc. (A) | &nbsp;&nbsp;&nbsp;6708 | &nbsp;&nbsp;&nbsp;&nbsp;382155 |
| The Bank of NT Butterfield & Son, Ltd. | &nbsp;&nbsp;&nbsp;6298 | &nbsp;&nbsp;&nbsp;&nbsp;278875 |
| The Chiba Bank, Ltd. | &nbsp;&nbsp;65425 | &nbsp;&nbsp;&nbsp;&nbsp;604640 |
| The First Bancorp, Inc. | &nbsp;&nbsp;&nbsp;1783 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45306 |
| The Hingham Institution for Savings (C) | &nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55879 |
| The PNC Financial Services Group, Inc. | &nbsp;&nbsp;27930 | &nbsp;&nbsp;&nbsp;5206711 |
| Third Coast Bancshares, Inc. (A) | &nbsp;&nbsp;&nbsp;1947 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63608 |
| Timberland Bancorp, Inc. | &nbsp;&nbsp;&nbsp;1222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38126 |
| Tompkins Financial Corp. | &nbsp;&nbsp;&nbsp;2032 | &nbsp;&nbsp;&nbsp;&nbsp;127467 |
| Towne Bank | &nbsp;&nbsp;10385 | &nbsp;&nbsp;&nbsp;&nbsp;354959 |
| TriCo Bancshares | &nbsp;&nbsp;&nbsp;4609 | &nbsp;&nbsp;&nbsp;&nbsp;186618 |
| Triumph Financial, Inc. (A) | &nbsp;&nbsp;&nbsp;3312 | &nbsp;&nbsp;&nbsp;&nbsp;182524 |
| Truist Financial Corp. | &nbsp;&nbsp;92459 | &nbsp;&nbsp;&nbsp;3974812 |
| Trustmark Corp. | &nbsp;&nbsp;&nbsp;8171 | &nbsp;&nbsp;&nbsp;&nbsp;297915 |
| U.S. Bancorp | 110006 | &nbsp;&nbsp;&nbsp;4977772 |
| UMB Financial Corp. | &nbsp;&nbsp;22133 | &nbsp;&nbsp;&nbsp;2327506 |
| UniCredit SpA | 162662 | 10911913 |
| United Bankshares, Inc. | &nbsp;&nbsp;43539 | &nbsp;&nbsp;&nbsp;1586126 |
| United Community Banks, Inc. | &nbsp;&nbsp;17638 | &nbsp;&nbsp;&nbsp;&nbsp;525436 |
| United Overseas Bank, Ltd. | 146517 | &nbsp;&nbsp;&nbsp;4146973 |
| Unity Bancorp, Inc. | &nbsp;&nbsp;&nbsp;1204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56684 |
| Univest Financial Corp. | &nbsp;&nbsp;&nbsp;4509 | &nbsp;&nbsp;&nbsp;&nbsp;135450 |
| USCB Financial Holdings, Inc. | &nbsp;&nbsp;&nbsp;1534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25372 |
| Valley National Bancorp | 147920 | &nbsp;&nbsp;&nbsp;1320926 |
| Veritex Holdings, Inc. | &nbsp;&nbsp;&nbsp;7629 | &nbsp;&nbsp;&nbsp;&nbsp;199117 |
| Virginia National Bankshares Corp. | &nbsp;&nbsp;&nbsp;&nbsp;718 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26566 |
| WaFd, Inc. | &nbsp;&nbsp;11817 | &nbsp;&nbsp;&nbsp;&nbsp;346002 |
| Washington Trust Bancorp, Inc. | &nbsp;&nbsp;&nbsp;3011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85151 |
| Webster Financial Corp. | &nbsp;&nbsp;27466 | &nbsp;&nbsp;&nbsp;1499644 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 125 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Banks (continued)** | **Banks (continued)** |  |
| Wells Fargo & Company | 229766 | $&nbsp;&nbsp;&nbsp;18408852 |
| WesBanco, Inc. | &nbsp;&nbsp;13701 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;433363 |
| West BanCorp, Inc. | &nbsp;&nbsp;&nbsp;2776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54493 |
| Westamerica BanCorp | &nbsp;&nbsp;&nbsp;3717 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180051 |
| Western Alliance Bancorp | &nbsp;&nbsp;17797 | &nbsp;&nbsp;&nbsp;&nbsp;1387810 |
| Western New England Bancorp, Inc. | &nbsp;&nbsp;&nbsp;3814 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35203 |
| Westpac Banking Corp. | 397190 | &nbsp;&nbsp;&nbsp;&nbsp;8851985 |
| Wintrust Financial Corp. | &nbsp;&nbsp;10927 | &nbsp;&nbsp;&nbsp;&nbsp;1354729 |
| WSFS Financial Corp. | &nbsp;&nbsp;&nbsp;8420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;463100 |
| Zions Bancorp NA | &nbsp;&nbsp;24093 | &nbsp;&nbsp;&nbsp;&nbsp;1251390 |
|  |  | 494503416 |
| **Capital markets – 3.2%** | **Capital markets – 3.2%** |  |
| 3i Group PLC | 112942 | &nbsp;&nbsp;&nbsp;&nbsp;6391635 |
| Acadian Asset Management, Inc. | &nbsp;&nbsp;&nbsp;4146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146105 |
| Affiliated Managers Group, Inc. | &nbsp;&nbsp;&nbsp;4641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;913210 |
| AlTi Global, Inc. (A) | &nbsp;&nbsp;&nbsp;7201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29884 |
| Ameriprise Financial, Inc. | &nbsp;&nbsp;&nbsp;6723 | &nbsp;&nbsp;&nbsp;&nbsp;3588267 |
| Amundi SA (B) | &nbsp;&nbsp;&nbsp;7150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;579549 |
| Artisan Partners Asset Management, Inc., Class A | &nbsp;&nbsp;&nbsp;9079 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;402472 |
| ASX, Ltd. | &nbsp;&nbsp;22544 | &nbsp;&nbsp;&nbsp;&nbsp;1035118 |
| BGC Group, Inc., Class A | &nbsp;&nbsp;52828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;540430 |
| BlackRock, Inc. | &nbsp;&nbsp;10282 | &nbsp;&nbsp;&nbsp;10788389 |
| Cboe Global Markets, Inc. | &nbsp;&nbsp;&nbsp;7393 | &nbsp;&nbsp;&nbsp;&nbsp;1724122 |
| CME Group, Inc. | &nbsp;&nbsp;25443 | &nbsp;&nbsp;&nbsp;&nbsp;7012600 |
| Cohen & Steers, Inc. | &nbsp;&nbsp;&nbsp;4119 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310367 |
| Coinbase Global, Inc., Class A (A) | &nbsp;&nbsp;14927 | &nbsp;&nbsp;&nbsp;&nbsp;5231764 |
| CVC Capital Partners PLC (B) | &nbsp;&nbsp;24667 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;507189 |
| Daiwa Securities Group, Inc. | 154780 | &nbsp;&nbsp;&nbsp;&nbsp;1099251 |
| Deutsche Bank AG | 214752 | &nbsp;&nbsp;&nbsp;&nbsp;6366415 |
| Deutsche Boerse AG | &nbsp;&nbsp;21848 | &nbsp;&nbsp;&nbsp;&nbsp;7137514 |
| Diamond Hill Investment Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;389 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56526 |
| DigitalBridge Group, Inc. | &nbsp;&nbsp;25408 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262973 |
| Donnelley Financial Solutions, Inc. (A) | &nbsp;&nbsp;&nbsp;3929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;242223 |
| EQT AB | &nbsp;&nbsp;43202 | &nbsp;&nbsp;&nbsp;&nbsp;1449254 |
| Euronext NV (B) | &nbsp;&nbsp;&nbsp;9071 | &nbsp;&nbsp;&nbsp;&nbsp;1554243 |
| Evercore, Inc., Class A | &nbsp;&nbsp;&nbsp;5870 | &nbsp;&nbsp;&nbsp;&nbsp;1585017 |
| FactSet Research Systems, Inc. | &nbsp;&nbsp;&nbsp;2679 | &nbsp;&nbsp;&nbsp;&nbsp;1198263 |
| Federated Hermes, Inc. | &nbsp;&nbsp;12320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;546022 |
| Forge Global Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;1636 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31149 |
| Franklin Resources, Inc. | &nbsp;&nbsp;21893 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;522148 |
| Futu Holdings, Ltd., ADR | &nbsp;&nbsp;&nbsp;7148 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;883421 |
| GCM Grosvenor, Inc., Class A | &nbsp;&nbsp;&nbsp;7235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83637 |
| Hamilton Lane, Inc., Class A | &nbsp;&nbsp;&nbsp;7075 | &nbsp;&nbsp;&nbsp;&nbsp;1005499 |
| Hong Kong Exchanges & Clearing, Ltd. | 139750 | &nbsp;&nbsp;&nbsp;&nbsp;7516668 |
| Houlihan Lokey, Inc. | &nbsp;&nbsp;&nbsp;8782 | &nbsp;&nbsp;&nbsp;&nbsp;1580321 |
| Interactive Brokers Group, Inc., Class A | &nbsp;&nbsp;71157 | &nbsp;&nbsp;&nbsp;&nbsp;3942809 |
| Intercontinental Exchange, Inc. | &nbsp;&nbsp;40502 | &nbsp;&nbsp;&nbsp;&nbsp;7430902 |
| Invesco, Ltd. | &nbsp;&nbsp;31603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498379 |
| Janus Henderson Group PLC | &nbsp;&nbsp;20579 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;799288 |
| Japan Exchange Group, Inc. | 115140 | &nbsp;&nbsp;&nbsp;&nbsp;1166371 |
| Jefferies Financial Group, Inc. | &nbsp;&nbsp;26603 | &nbsp;&nbsp;&nbsp;&nbsp;1454918 |
| Julius Baer Group, Ltd. | &nbsp;&nbsp;23902 | &nbsp;&nbsp;&nbsp;&nbsp;1621388 |
| KKR & Company, Inc. | &nbsp;&nbsp;47793 | &nbsp;&nbsp;&nbsp;&nbsp;6357903 |
| London Stock Exchange Group PLC | &nbsp;&nbsp;55300 | &nbsp;&nbsp;&nbsp;&nbsp;8087466 |
| Macquarie Group, Ltd. | &nbsp;&nbsp;42012 | &nbsp;&nbsp;&nbsp;&nbsp;6318841 |
| Marex Group PLC | &nbsp;&nbsp;&nbsp;4769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188232 |
| MarketAxess Holdings, Inc. | &nbsp;&nbsp;&nbsp;2648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;591404 |
| Moelis & Company, Class A | &nbsp;&nbsp;10874 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;677668 |
| Moody's Corp. | &nbsp;&nbsp;10924 | &nbsp;&nbsp;&nbsp;&nbsp;5479369 |
| Morgan Stanley | &nbsp;&nbsp;87222 | &nbsp;&nbsp;&nbsp;12286091 |
| Morningstar, Inc. | &nbsp;&nbsp;&nbsp;4346 | &nbsp;&nbsp;&nbsp;&nbsp;1364340 |
| MSCI, Inc. | &nbsp;&nbsp;&nbsp;5463 | &nbsp;&nbsp;&nbsp;&nbsp;3150731 |
| Nasdaq, Inc. | &nbsp;&nbsp;29186 | &nbsp;&nbsp;&nbsp;&nbsp;2609812 |
| Nomura Holdings, Inc. | 348712 | &nbsp;&nbsp;&nbsp;&nbsp;2297908 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Capital markets (continued)** | **Capital markets (continued)** |  |
| Northern Trust Corp. | &nbsp;&nbsp;13735 | $&nbsp;&nbsp;&nbsp;&nbsp;1741461 |
| Open Lending Corp. (A) | &nbsp;&nbsp;17337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33634 |
| P10, Inc., Class A | &nbsp;&nbsp;&nbsp;8390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85746 |
| Partners Group Holding AG | &nbsp;&nbsp;&nbsp;2633 | &nbsp;&nbsp;&nbsp;&nbsp;3444823 |
| Patria Investments, Ltd., Class A | &nbsp;&nbsp;&nbsp;9117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128185 |
| Perella Weinberg Partners | &nbsp;&nbsp;&nbsp;9068 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176101 |
| Piper Sandler Companies | &nbsp;&nbsp;&nbsp;2552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;709303 |
| PJT Partners, Inc., Class A | &nbsp;&nbsp;&nbsp;3353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;553279 |
| Raymond James Financial, Inc. | &nbsp;&nbsp;12821 | &nbsp;&nbsp;&nbsp;&nbsp;1966357 |
| S&P Global, Inc. | &nbsp;&nbsp;22163 | &nbsp;&nbsp;&nbsp;11686328 |
| SBI Holdings, Inc. | &nbsp;&nbsp;31634 | &nbsp;&nbsp;&nbsp;&nbsp;1102291 |
| Schroders PLC | &nbsp;&nbsp;84098 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;418229 |
| SEI Investments Company | &nbsp;&nbsp;15447 | &nbsp;&nbsp;&nbsp;&nbsp;1388067 |
| Silvercrest Asset Management Group, Inc., Class A | &nbsp;&nbsp;&nbsp;1982 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31435 |
| Singapore Exchange, Ltd. | &nbsp;&nbsp;99469 | &nbsp;&nbsp;&nbsp;&nbsp;1164704 |
| State Street Corp. | &nbsp;&nbsp;20136 | &nbsp;&nbsp;&nbsp;&nbsp;2141262 |
| StepStone Group, Inc., Class A | &nbsp;&nbsp;&nbsp;9275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;514763 |
| Stifel Financial Corp. | &nbsp;&nbsp;16772 | &nbsp;&nbsp;&nbsp;&nbsp;1740598 |
| StoneX Group, Inc. (A) | &nbsp;&nbsp;&nbsp;6672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;608086 |
| T. Rowe Price Group, Inc. | &nbsp;&nbsp;15556 | &nbsp;&nbsp;&nbsp;&nbsp;1501154 |
| The Bank of New York Mellon Corp. | &nbsp;&nbsp;50514 | &nbsp;&nbsp;&nbsp;&nbsp;4602331 |
| The Blackstone Group, Inc. | &nbsp;&nbsp;51518 | &nbsp;&nbsp;&nbsp;&nbsp;7706062 |
| The Carlyle Group, Inc. | &nbsp;&nbsp;34787 | &nbsp;&nbsp;&nbsp;&nbsp;1788052 |
| The Charles Schwab Corp. | 120592 | &nbsp;&nbsp;&nbsp;11002814 |
| The Goldman Sachs Group, Inc. | &nbsp;&nbsp;21665 | &nbsp;&nbsp;&nbsp;15333404 |
| UBS Group AG | 381618 | &nbsp;&nbsp;&nbsp;12956595 |
| Victory Capital Holdings, Inc., Class A | &nbsp;&nbsp;&nbsp;6493 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;413409 |
| Virtus Investment Partners, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;948 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171967 |
| Westwood Holdings Group, Inc. | &nbsp;&nbsp;&nbsp;1736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27082 |
| WisdomTree, Inc. | &nbsp;&nbsp;17791 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204774 |
|  |  | 223987761 |
| **Consumer finance – 0.5%** | **Consumer finance – 0.5%** |  |
| Ally Financial, Inc. | &nbsp;&nbsp;45136 | &nbsp;&nbsp;&nbsp;&nbsp;1758047 |
| American Express Company | &nbsp;&nbsp;39078 | &nbsp;&nbsp;&nbsp;12465100 |
| Atlanticus Holdings Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;873 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47797 |
| Bread Financial Holdings, Inc. | &nbsp;&nbsp;&nbsp;6831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390187 |
| Capital One Financial Corp. | &nbsp;&nbsp;45161 | &nbsp;&nbsp;&nbsp;&nbsp;9608454 |
| Dave, Inc. (A) | &nbsp;&nbsp;&nbsp;1372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;368259 |
| Encore Capital Group, Inc. (A) | &nbsp;&nbsp;&nbsp;3513 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135988 |
| Enova International, Inc. (A) | &nbsp;&nbsp;&nbsp;3581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;399353 |
| FirstCash Holdings, Inc. | &nbsp;&nbsp;12137 | &nbsp;&nbsp;&nbsp;&nbsp;1640194 |
| Green Dot Corp., Class A (A) | &nbsp;&nbsp;&nbsp;8117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87501 |
| LendingClub Corp. (A) | &nbsp;&nbsp;16780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201863 |
| LendingTree, Inc. (A) | &nbsp;&nbsp;&nbsp;1692 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62722 |
| Medallion Financial Corp. | &nbsp;&nbsp;&nbsp;2725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25969 |
| Navient Corp. | &nbsp;&nbsp;10353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145977 |
| Nelnet, Inc., Class A | &nbsp;&nbsp;&nbsp;2054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;248780 |
| NerdWallet, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;6386 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70054 |
| Oportun Financial Corp. (A) | &nbsp;&nbsp;&nbsp;5178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37074 |
| OppFi, Inc. (C) | &nbsp;&nbsp;&nbsp;3649 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51050 |
| PRA Group, Inc. (A) | &nbsp;&nbsp;&nbsp;5962 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87940 |
| PROG Holdings, Inc. | &nbsp;&nbsp;&nbsp;5963 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175014 |
| Regional Management Corp. | &nbsp;&nbsp;&nbsp;1525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44545 |
| SLM Corp. | &nbsp;&nbsp;34263 | &nbsp;&nbsp;&nbsp;&nbsp;1123484 |
| Synchrony Financial | &nbsp;&nbsp;26877 | &nbsp;&nbsp;&nbsp;&nbsp;1793771 |
| Upstart Holdings, Inc. (A) | &nbsp;&nbsp;12437 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;804425 |
| World Acceptance Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;514 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84872 |
|  |  | &nbsp;&nbsp;&nbsp;31858420 |
| **Financial services – 2.9%** | **Financial services – 2.9%** |  |
| Acacia Research Corp. (A) | &nbsp;&nbsp;&nbsp;6868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24587 |
| Adyen NV (A)(B) | &nbsp;&nbsp;&nbsp;2923 | &nbsp;&nbsp;&nbsp;&nbsp;5368198 |
| Alerus Financial Corp. | &nbsp;&nbsp;&nbsp;3539 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76584 |
| Apollo Global Management, Inc. | &nbsp;&nbsp;31878 | &nbsp;&nbsp;&nbsp;&nbsp;4522532 |
| AvidXchange Holdings, Inc. (A) | &nbsp;&nbsp;25694 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251544 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 126 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Financial services (continued)** | **Financial services (continued)** |  |
| Banca Mediolanum SpA | &nbsp;&nbsp;25945 | $&nbsp;&nbsp;&nbsp;&nbsp;447116 |
| Banco Latinoamericano de Comercio Exterior SA, Class E | &nbsp;&nbsp;&nbsp;4376 | &nbsp;&nbsp;&nbsp;&nbsp;176353 |
| Berkshire Hathaway, Inc., Class B (A) | 129474 | 62894585 |
| Burford Capital, Ltd. | &nbsp;&nbsp;28883 | &nbsp;&nbsp;&nbsp;&nbsp;411872 |
| Cannae Holdings, Inc. | &nbsp;&nbsp;&nbsp;8779 | &nbsp;&nbsp;&nbsp;&nbsp;183042 |
| Cantaloupe, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;8210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90228 |
| Cass Information Systems, Inc. | &nbsp;&nbsp;&nbsp;1917 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83294 |
| Compass Diversified Holdings | &nbsp;&nbsp;12176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76465 |
| Corpay, Inc. (A) | &nbsp;&nbsp;&nbsp;4977 | &nbsp;&nbsp;&nbsp;1651468 |
| Edenred SE | &nbsp;&nbsp;28024 | &nbsp;&nbsp;&nbsp;&nbsp;870440 |
| Enact Holdings, Inc. | &nbsp;&nbsp;&nbsp;4291 | &nbsp;&nbsp;&nbsp;&nbsp;159411 |
| Equitable Holdings, Inc. | &nbsp;&nbsp;49616 | &nbsp;&nbsp;&nbsp;2783458 |
| Essent Group, Ltd. | &nbsp;&nbsp;31086 | &nbsp;&nbsp;&nbsp;1887853 |
| Eurazeo SE | &nbsp;&nbsp;&nbsp;4664 | &nbsp;&nbsp;&nbsp;&nbsp;333442 |
| Euronet Worldwide, Inc. (A) | &nbsp;&nbsp;&nbsp;6637 | &nbsp;&nbsp;&nbsp;&nbsp;672859 |
| EVERTEC, Inc. | &nbsp;&nbsp;&nbsp;9624 | &nbsp;&nbsp;&nbsp;&nbsp;346945 |
| EXOR NV | &nbsp;&nbsp;10257 | &nbsp;&nbsp;&nbsp;1035419 |
| Federal Agricultural Mortgage Corp., Class C | &nbsp;&nbsp;&nbsp;1378 | &nbsp;&nbsp;&nbsp;&nbsp;267718 |
| Fidelity National Information Services, Inc. | &nbsp;&nbsp;37096 | &nbsp;&nbsp;&nbsp;3019985 |
| Fiserv, Inc. (A) | &nbsp;&nbsp;39146 | &nbsp;&nbsp;&nbsp;6749162 |
| Flywire Corp. (A) | &nbsp;&nbsp;17633 | &nbsp;&nbsp;&nbsp;&nbsp;206306 |
| Global Payments, Inc. | &nbsp;&nbsp;17220 | &nbsp;&nbsp;&nbsp;1378289 |
| Groupe Bruxelles Lambert NV | &nbsp;&nbsp;&nbsp;9636 | &nbsp;&nbsp;&nbsp;&nbsp;822537 |
| HA Sustainable Infrastructure Capital, Inc. | &nbsp;&nbsp;18044 | &nbsp;&nbsp;&nbsp;&nbsp;484662 |
| Industrivarden AB, A Shares | &nbsp;&nbsp;13828 | &nbsp;&nbsp;&nbsp;&nbsp;502695 |
| Industrivarden AB, C Shares | &nbsp;&nbsp;17967 | &nbsp;&nbsp;&nbsp;&nbsp;650616 |
| Infratil, Ltd. | 106712 | &nbsp;&nbsp;&nbsp;&nbsp;688583 |
| International Money Express, Inc. (A) | &nbsp;&nbsp;&nbsp;4350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43892 |
| Investor AB, B Shares | 200829 | &nbsp;&nbsp;&nbsp;5951242 |
| Jack Henry & Associates, Inc. | &nbsp;&nbsp;&nbsp;5141 | &nbsp;&nbsp;&nbsp;&nbsp;926254 |
| Jackson Financial, Inc., Class A | &nbsp;&nbsp;10506 | &nbsp;&nbsp;&nbsp;&nbsp;932828 |
| L.E. Lundbergforetagen AB, B Shares | &nbsp;&nbsp;&nbsp;8819 | &nbsp;&nbsp;&nbsp;&nbsp;440223 |
| M&G PLC | 265027 | &nbsp;&nbsp;&nbsp;&nbsp;936795 |
| Marqeta, Inc., Class A (A) | &nbsp;&nbsp;57265 | &nbsp;&nbsp;&nbsp;&nbsp;333855 |
| Mastercard, Inc., Class A | &nbsp;&nbsp;57271 | 32182866 |
| Merchants Bancorp | &nbsp;&nbsp;&nbsp;3955 | &nbsp;&nbsp;&nbsp;&nbsp;130792 |
| MGIC Investment Corp. | &nbsp;&nbsp;38765 | &nbsp;&nbsp;&nbsp;1079218 |
| Mitsubishi HC Capital, Inc. | 102116 | &nbsp;&nbsp;&nbsp;&nbsp;751852 |
| NCR Atleos Corp. (A) | &nbsp;&nbsp;10840 | &nbsp;&nbsp;&nbsp;&nbsp;309265 |
| NewtekOne, Inc. | &nbsp;&nbsp;&nbsp;3956 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44624 |
| Nexi SpA (B) | &nbsp;&nbsp;57094 | &nbsp;&nbsp;&nbsp;&nbsp;340983 |
| NMI Holdings, Inc. (A) | &nbsp;&nbsp;11481 | &nbsp;&nbsp;&nbsp;&nbsp;484383 |
| Onity Group, Inc. (A) | &nbsp;&nbsp;&nbsp;1073 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40956 |
| ORIX Corp. | 134938 | &nbsp;&nbsp;&nbsp;3045100 |
| PagSeguro Digital, Ltd., Class A | &nbsp;&nbsp;26189 | &nbsp;&nbsp;&nbsp;&nbsp;252462 |
| Payoneer Global, Inc. (A) | &nbsp;&nbsp;41563 | &nbsp;&nbsp;&nbsp;&nbsp;284707 |
| PayPal Holdings, Inc. (A) | &nbsp;&nbsp;68667 | &nbsp;&nbsp;&nbsp;5103331 |
| Paysafe, Ltd. (A) | &nbsp;&nbsp;&nbsp;4981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62860 |
| Paysign, Inc. (A) | &nbsp;&nbsp;&nbsp;5504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39629 |
| PennyMac Financial Services, Inc. | &nbsp;&nbsp;&nbsp;4297 | &nbsp;&nbsp;&nbsp;&nbsp;428153 |
| Priority Technology Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;3958 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30793 |
| Radian Group, Inc. | &nbsp;&nbsp;20498 | &nbsp;&nbsp;&nbsp;&nbsp;738338 |
| Remitly Global, Inc. (A) | &nbsp;&nbsp;22953 | &nbsp;&nbsp;&nbsp;&nbsp;430828 |
| Repay Holdings Corp. (A) | &nbsp;&nbsp;11694 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56365 |
| Security National Financial Corp., Class A (A) | &nbsp;&nbsp;&nbsp;2442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24054 |
| Sezzle, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;2183 | &nbsp;&nbsp;&nbsp;&nbsp;391303 |
| Shift4 Payments, Inc., Class A (A)(C) | &nbsp;&nbsp;11016 | &nbsp;&nbsp;&nbsp;1091796 |
| Sofina SA | &nbsp;&nbsp;&nbsp;1788 | &nbsp;&nbsp;&nbsp;&nbsp;591379 |
| StoneCo, Ltd., Class A (A) | &nbsp;&nbsp;35841 | &nbsp;&nbsp;&nbsp;&nbsp;574890 |
| The Western Union Company | &nbsp;&nbsp;53963 | &nbsp;&nbsp;&nbsp;&nbsp;454368 |
| TrustCo Bank Corp. NY | &nbsp;&nbsp;&nbsp;2666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89098 |
| Velocity Financial, Inc. (A) | &nbsp;&nbsp;&nbsp;1893 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35096 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Financial services (continued)** | **Financial services (continued)** |  |
| Visa, Inc., Class A | &nbsp;&nbsp;120806 | $&nbsp;&nbsp;&nbsp;42892170 |
| Voya Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;15722 | &nbsp;&nbsp;&nbsp;&nbsp;1116262 |
| Walker & Dunlop, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;4846 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;341546 |
| Washington H. Soul Pattinson & Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;27732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;766666 |
| Waterstone Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;3075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42466 |
| WEX, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;5591 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;821262 |
| Wise PLC, Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;77303 | &nbsp;&nbsp;&nbsp;&nbsp;1104303 |
|  |  | 204857501 |
| **Insurance – 3.4%** | **Insurance – 3.4%** |  |
| Admiral Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;30209 | &nbsp;&nbsp;&nbsp;&nbsp;1356582 |
| Aegon, Ltd. | &nbsp;&nbsp;153421 | &nbsp;&nbsp;&nbsp;&nbsp;1111798 |
| Aflac, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;34356 | &nbsp;&nbsp;&nbsp;&nbsp;3623184 |
| Ageas SA/NV | &nbsp;&nbsp;&nbsp;&nbsp;17312 | &nbsp;&nbsp;&nbsp;&nbsp;1171116 |
| AIA Group, Ltd. | 1240876 | &nbsp;&nbsp;&nbsp;11240400 |
| Allianz SE | &nbsp;&nbsp;&nbsp;&nbsp;44806 | &nbsp;&nbsp;&nbsp;18183771 |
| Ambac Financial Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;7316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51944 |
| American Coastal Insurance Corp. | &nbsp;&nbsp;&nbsp;&nbsp;3825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42534 |
| American Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11727 | &nbsp;&nbsp;&nbsp;&nbsp;1480065 |
| American International Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;40692 | &nbsp;&nbsp;&nbsp;&nbsp;3482828 |
| AMERISAFE, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;2836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124018 |
| Aon PLC, Class A | &nbsp;&nbsp;&nbsp;&nbsp;15247 | &nbsp;&nbsp;&nbsp;&nbsp;5439520 |
| Arch Capital Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;26352 | &nbsp;&nbsp;&nbsp;&nbsp;2399350 |
| Arthur J. Gallagher & Company | &nbsp;&nbsp;&nbsp;&nbsp;18082 | &nbsp;&nbsp;&nbsp;&nbsp;5788410 |
| ASR Nederland NV | &nbsp;&nbsp;&nbsp;&nbsp;17164 | &nbsp;&nbsp;&nbsp;&nbsp;1140472 |
| Assurant, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;3580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;707014 |
| Aviva PLC | &nbsp;&nbsp;310722 | &nbsp;&nbsp;&nbsp;&nbsp;2641673 |
| AXA SA | &nbsp;&nbsp;205584 | &nbsp;&nbsp;&nbsp;10095209 |
| Baloise Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;4783 | &nbsp;&nbsp;&nbsp;&nbsp;1128080 |
| Bowhead Specialty Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;2383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89434 |
| Brighthouse Financial, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;9373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;503986 |
| Brown & Brown, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16796 | &nbsp;&nbsp;&nbsp;&nbsp;1862173 |
| Chubb, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;26314 | &nbsp;&nbsp;&nbsp;&nbsp;7623692 |
| Cincinnati Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;11036 | &nbsp;&nbsp;&nbsp;&nbsp;1643481 |
| Citizens, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;7937 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27700 |
| CNO Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;30620 | &nbsp;&nbsp;&nbsp;&nbsp;1181320 |
| Crawford & Company, Class A | &nbsp;&nbsp;&nbsp;&nbsp;2726 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28841 |
| Dai-ichi Life Holdings, Inc. | &nbsp;&nbsp;407885 | &nbsp;&nbsp;&nbsp;&nbsp;3100988 |
| Donegal Group, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;2774 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55549 |
| eHealth, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;4822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20976 |
| Employers Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;3423 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161497 |
| Enstar Group, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;1724 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;579885 |
| Erie Indemnity Company, Class A | &nbsp;&nbsp;&nbsp;&nbsp;1761 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;610697 |
| Everest Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;3003 | &nbsp;&nbsp;&nbsp;&nbsp;1020570 |
| F&G Annuities & Life, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;3185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101856 |
| Fidelis Insurance Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;8793 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145788 |
| Fidelity National Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;42597 | &nbsp;&nbsp;&nbsp;&nbsp;2387988 |
| First American Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;16800 | &nbsp;&nbsp;&nbsp;&nbsp;1031352 |
| Generali | &nbsp;&nbsp;100154 | &nbsp;&nbsp;&nbsp;&nbsp;3562629 |
| Genworth Financial, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;59817 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;465376 |
| Gjensidige Forsikring ASA | &nbsp;&nbsp;&nbsp;&nbsp;23205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;588245 |
| Globe Life, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;5828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;724362 |
| Goosehead Insurance, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;3529 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;372345 |
| Greenlight Capital Re, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;4212 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60526 |
| Hamilton Insurance Group, Ltd., Class B (A) | &nbsp;&nbsp;&nbsp;&nbsp;6651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143795 |
| Hannover Rueck SE | &nbsp;&nbsp;&nbsp;&nbsp;6996 | &nbsp;&nbsp;&nbsp;&nbsp;2204534 |
| HCI Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;1266 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192685 |
| Helvetia Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;4307 | &nbsp;&nbsp;&nbsp;&nbsp;1011181 |
| Heritage Insurance Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;3418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85245 |
| Hippo Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;2716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75858 |
| Horace Mann Educators Corp. | &nbsp;&nbsp;&nbsp;&nbsp;5991 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257433 |
| Insurance Australia Group, Ltd. | &nbsp;&nbsp;274440 | &nbsp;&nbsp;&nbsp;&nbsp;1631552 |
| Investors Title Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43528 |
| James River Group Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;5932 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34762 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 127 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Insurance (continued)** | **Insurance (continued)** |  |
| Japan Post Holdings Company, Ltd. | 206974 | $&nbsp;&nbsp;&nbsp;1917038 |
| Japan Post Insurance Company, Ltd. | &nbsp;&nbsp;22232 | &nbsp;&nbsp;&nbsp;&nbsp;503338 |
| Kemper Corp. | &nbsp;&nbsp;&nbsp;9821 | &nbsp;&nbsp;&nbsp;&nbsp;633847 |
| Kingstone Companies, Inc. (A) | &nbsp;&nbsp;&nbsp;1699 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26182 |
| Kingsway Financial Services, Inc. (A) | &nbsp;&nbsp;&nbsp;3111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42123 |
| Kinsale Capital Group, Inc. | &nbsp;&nbsp;&nbsp;3616 | &nbsp;&nbsp;&nbsp;1749782 |
| Legal & General Group PLC | 681351 | &nbsp;&nbsp;&nbsp;2384003 |
| Lemonade, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;8236 | &nbsp;&nbsp;&nbsp;&nbsp;360819 |
| Loews Corp. | &nbsp;&nbsp;12290 | &nbsp;&nbsp;&nbsp;1126501 |
| Marsh & McLennan Companies, Inc. | &nbsp;&nbsp;34789 | &nbsp;&nbsp;&nbsp;7606267 |
| MBIA, Inc. (A) | &nbsp;&nbsp;&nbsp;7768 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33713 |
| Medibank Private, Ltd. | 319530 | &nbsp;&nbsp;&nbsp;1061127 |
| Mercury General Corp. | &nbsp;&nbsp;&nbsp;3963 | &nbsp;&nbsp;&nbsp;&nbsp;266868 |
| MetLife, Inc. | &nbsp;&nbsp;39814 | &nbsp;&nbsp;&nbsp;3201842 |
| MS&AD Insurance Group Holdings, Inc. | 149297 | &nbsp;&nbsp;&nbsp;3337624 |
| Muenchener Rueckversicherungs-Gesellschaft AG | &nbsp;&nbsp;15520 | 10077673 |
| NN Group NV | &nbsp;&nbsp;31213 | &nbsp;&nbsp;&nbsp;2076886 |
| Old Republic International Corp. | &nbsp;&nbsp;37125 | &nbsp;&nbsp;&nbsp;1427085 |
| Oscar Health, Inc., Class A (A) | &nbsp;&nbsp;27094 | &nbsp;&nbsp;&nbsp;&nbsp;580895 |
| Palomar Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;3892 | &nbsp;&nbsp;&nbsp;&nbsp;600341 |
| Phoenix Group Holdings PLC | &nbsp;&nbsp;81477 | &nbsp;&nbsp;&nbsp;&nbsp;737132 |
| Poste Italiane SpA (B) | &nbsp;&nbsp;53041 | &nbsp;&nbsp;&nbsp;1139632 |
| Primerica, Inc. | &nbsp;&nbsp;&nbsp;5365 | &nbsp;&nbsp;&nbsp;1468240 |
| Principal Financial Group, Inc. | &nbsp;&nbsp;14564 | &nbsp;&nbsp;&nbsp;1156819 |
| ProAssurance Corp. (A) | &nbsp;&nbsp;&nbsp;7631 | &nbsp;&nbsp;&nbsp;&nbsp;174216 |
| Prudential Financial, Inc. | &nbsp;&nbsp;24995 | &nbsp;&nbsp;&nbsp;2685463 |
| Prudential PLC | 302748 | &nbsp;&nbsp;&nbsp;3789267 |
| QBE Insurance Group, Ltd. | 175205 | &nbsp;&nbsp;&nbsp;2698003 |
| Reinsurance Group of America, Inc. | &nbsp;&nbsp;10790 | &nbsp;&nbsp;&nbsp;2140304 |
| RenaissanceRe Holdings, Ltd. | &nbsp;&nbsp;&nbsp;7943 | &nbsp;&nbsp;&nbsp;1929355 |
| RLI Corp. | &nbsp;&nbsp;13635 | &nbsp;&nbsp;&nbsp;&nbsp;984720 |
| Root, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;1574 | &nbsp;&nbsp;&nbsp;&nbsp;201425 |
| Ryan Specialty Holdings, Inc. | &nbsp;&nbsp;17575 | &nbsp;&nbsp;&nbsp;1194924 |
| Safety Insurance Group, Inc. | &nbsp;&nbsp;&nbsp;2148 | &nbsp;&nbsp;&nbsp;&nbsp;170530 |
| Sampo OYJ, A Shares | 280930 | &nbsp;&nbsp;&nbsp;3023511 |
| Selective Insurance Group, Inc. | &nbsp;&nbsp;18787 | &nbsp;&nbsp;&nbsp;1627894 |
| SelectQuote, Inc. (A) | &nbsp;&nbsp;21337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50782 |
| SiriusPoint, Ltd. (A) | &nbsp;&nbsp;15298 | &nbsp;&nbsp;&nbsp;&nbsp;311926 |
| Skyward Specialty Insurance Group, Inc. (A) | &nbsp;&nbsp;&nbsp;5234 | &nbsp;&nbsp;&nbsp;&nbsp;302473 |
| Sompo Holdings, Inc. | 103432 | &nbsp;&nbsp;&nbsp;3116901 |
| Stewart Information Services Corp. | &nbsp;&nbsp;&nbsp;4056 | &nbsp;&nbsp;&nbsp;&nbsp;264046 |
| Suncorp Group, Ltd. | 125656 | &nbsp;&nbsp;&nbsp;1790804 |
| Swiss Life Holding AG | &nbsp;&nbsp;&nbsp;3333 | &nbsp;&nbsp;&nbsp;3374207 |
| Swiss Re AG | &nbsp;&nbsp;34997 | &nbsp;&nbsp;&nbsp;6054027 |
| T&D Holdings, Inc. | &nbsp;&nbsp;56808 | &nbsp;&nbsp;&nbsp;1246941 |
| Talanx AG | &nbsp;&nbsp;&nbsp;7490 | &nbsp;&nbsp;&nbsp;&nbsp;971017 |
| The Allstate Corp. | &nbsp;&nbsp;18698 | &nbsp;&nbsp;&nbsp;3764094 |
| The Baldwin Insurance Group, Inc. (A) | &nbsp;&nbsp;10371 | &nbsp;&nbsp;&nbsp;&nbsp;443983 |
| The Hanover Insurance Group, Inc. | &nbsp;&nbsp;&nbsp;5864 | &nbsp;&nbsp;&nbsp;&nbsp;996118 |
| The Hartford Insurance Group, Inc. | &nbsp;&nbsp;20061 | &nbsp;&nbsp;&nbsp;2545139 |
| The Progressive Corp. | &nbsp;&nbsp;41391 | 11045602 |
| The Travelers Companies, Inc. | &nbsp;&nbsp;15997 | &nbsp;&nbsp;&nbsp;4279837 |
| Tiptree, Inc. | &nbsp;&nbsp;&nbsp;3651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86091 |
| Tokio Marine Holdings, Inc. | 213179 | &nbsp;&nbsp;&nbsp;9034745 |
| Trupanion, Inc. (A) | &nbsp;&nbsp;&nbsp;5488 | &nbsp;&nbsp;&nbsp;&nbsp;303761 |
| Tryg A/S | &nbsp;&nbsp;39336 | &nbsp;&nbsp;&nbsp;1016882 |
| Unipol Assicurazioni SpA | &nbsp;&nbsp;41623 | &nbsp;&nbsp;&nbsp;&nbsp;824334 |
| United Fire Group, Inc. | &nbsp;&nbsp;&nbsp;3194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91668 |
| Universal Insurance Holdings, Inc. | &nbsp;&nbsp;&nbsp;3802 | &nbsp;&nbsp;&nbsp;&nbsp;105429 |
| Unum Group | &nbsp;&nbsp;26190 | &nbsp;&nbsp;&nbsp;2115104 |
| W.R. Berkley Corp. | &nbsp;&nbsp;21160 | &nbsp;&nbsp;&nbsp;1554625 |
| Willis Towers Watson PLC | &nbsp;&nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;2145500 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Insurance (continued)** | **Insurance (continued)** |  |
| Zurich Insurance Group AG | &nbsp;&nbsp;16982 | $&nbsp;&nbsp;&nbsp;&nbsp;11882693 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;238693915 |
| **Mortgage real estate investment trusts – 0.1%** | **Mortgage real estate investment trusts – 0.1%** |  |
| ACRES Commercial Realty Corp. (A) | &nbsp;&nbsp;&nbsp;1238 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22210 |
| AG Mortgage Investment Trust, Inc. | &nbsp;&nbsp;&nbsp;4576 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34549 |
| Annaly Capital Management, Inc. | &nbsp;&nbsp;98790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1859228 |
| Apollo Commercial Real Estate Finance, Inc. | &nbsp;&nbsp;20422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197685 |
| Arbor Realty Trust, Inc. | &nbsp;&nbsp;28240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;302168 |
| Ares Commercial Real Estate Corp. | &nbsp;&nbsp;&nbsp;7997 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38146 |
| ARMOUR Residential REIT, Inc. | &nbsp;&nbsp;11892 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199905 |
| Blackstone Mortgage Trust, Inc., Class A | &nbsp;&nbsp;23773 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;457630 |
| BrightSpire Capital, Inc. | &nbsp;&nbsp;19172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96819 |
| Chicago Atlantic Real Estate Finance, Inc. | &nbsp;&nbsp;&nbsp;2899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40470 |
| Chimera Investment Corp. | &nbsp;&nbsp;11621 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161183 |
| Claros Mortgage Trust, Inc. | &nbsp;&nbsp;14552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41473 |
| Dynex Capital, Inc. | &nbsp;&nbsp;14997 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183263 |
| Ellington Financial, Inc. | &nbsp;&nbsp;13159 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170935 |
| Franklin BSP Realty Trust, Inc. | &nbsp;&nbsp;12252 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130974 |
| Invesco Mortgage Capital, Inc. | &nbsp;&nbsp;&nbsp;9817 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76965 |
| KKR Real Estate Finance Trust, Inc. | &nbsp;&nbsp;&nbsp;8870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77790 |
| Ladder Capital Corp. | &nbsp;&nbsp;17778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191114 |
| MFA Financial, Inc. | &nbsp;&nbsp;15056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142430 |
| New York Mortgage Trust, Inc. | &nbsp;&nbsp;13354 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89472 |
| Nexpoint Real Estate Finance, Inc. | &nbsp;&nbsp;&nbsp;1655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22822 |
| Orchid Island Capital, Inc. | &nbsp;&nbsp;15837 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111017 |
| PennyMac Mortgage Investment Trust | &nbsp;&nbsp;12741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163849 |
| Ready Capital Corp. | &nbsp;&nbsp;25219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110207 |
| Redwood Trust, Inc. | &nbsp;&nbsp;19670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116250 |
| Rithm Property Trust, Inc. | &nbsp;&nbsp;&nbsp;7829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21138 |
| Seven Hills Realty Trust | &nbsp;&nbsp;&nbsp;2751 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33205 |
| Starwood Property Trust, Inc. | &nbsp;&nbsp;52650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1056686 |
| TPG RE Finance Trust, Inc. | &nbsp;&nbsp;&nbsp;9878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76258 |
| Two Harbors Investment Corp. | &nbsp;&nbsp;15264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164393 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6390234 |
|  |  | 1200291247 |
| **Health care – 9.9%** |  |  |
| **Biotechnology – 1.6%** | **Biotechnology – 1.6%** |  |
| 4D Molecular Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;6474 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24019 |
| 89bio, Inc. (A) | &nbsp;&nbsp;18644 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183084 |
| AbbVie, Inc. | 124719 | &nbsp;&nbsp;&nbsp;&nbsp;23150341 |
| Abeona Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;6942 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39431 |
| Absci Corp. (A)(C) | &nbsp;&nbsp;16580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42611 |
| ACADIA Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;18381 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;396478 |
| ADC Therapeutics SA (A) | &nbsp;&nbsp;11189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29987 |
| ADMA Biologics, Inc. (A) | &nbsp;&nbsp;34247 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;623638 |
| Aduro Biotech, Inc. (A)(D) | &nbsp;&nbsp;&nbsp;2435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3412 |
| Agios Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;8357 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;277954 |
| Akebia Therapeutics, Inc. (A) | &nbsp;&nbsp;37362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135998 |
| Akero Therapeutics, Inc. (A) | &nbsp;&nbsp;10354 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;552489 |
| Albireo Pharma, Inc. (A)(D) | &nbsp;&nbsp;&nbsp;2883 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6198 |
| Aldeyra Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;8710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33359 |
| Alkermes PLC (A) | &nbsp;&nbsp;23914 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;684180 |
| Allogene Therapeutics, Inc. (A) | &nbsp;&nbsp;23967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27083 |
| Altimmune, Inc. (A)(C) | &nbsp;&nbsp;11574 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44791 |
| Amgen, Inc. | &nbsp;&nbsp;37965 | &nbsp;&nbsp;&nbsp;&nbsp;10600208 |
| Amicus Therapeutics, Inc. (A) | &nbsp;&nbsp;41505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;237824 |
| AnaptysBio, Inc. (A) | &nbsp;&nbsp;&nbsp;2949 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65468 |
| Anavex Life Sciences Corp. (A)(C) | &nbsp;&nbsp;12566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115859 |
| Anika Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;2232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23615 |
| Annexon, Inc. (A) | &nbsp;&nbsp;15649 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37558 |
| Apogee Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;4762 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206814 |
| Arbutus Biopharma Corp. (A) | &nbsp;&nbsp;24202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74784 |
| Arcellx, Inc. (A) | &nbsp;&nbsp;&nbsp;5430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;357566 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 128 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Biotechnology (continued)** | **Biotechnology (continued)** |  |
| Arcturus Therapeutics Holdings, Inc. (A) | &nbsp;&nbsp;3908 | $&nbsp;&nbsp;&nbsp;&nbsp;50843 |
| Arcus Biosciences, Inc. (A) | 10637 | &nbsp;&nbsp;&nbsp;&nbsp;86585 |
| Arcutis Biotherapeutics, Inc. (A) | 15865 | &nbsp;&nbsp;&nbsp;&nbsp;222427 |
| Ardelyx, Inc. (A) | 35342 | &nbsp;&nbsp;&nbsp;&nbsp;138541 |
| Argenx SE (A) | &nbsp;&nbsp;7085 | 3922134 |
| ArriVent Biopharma, Inc. (A) | &nbsp;&nbsp;3656 | &nbsp;&nbsp;&nbsp;&nbsp;79591 |
| Arrowhead Pharmaceuticals, Inc. (A) | 17906 | &nbsp;&nbsp;&nbsp;&nbsp;282915 |
| ARS Pharmaceuticals, Inc. (A)(C) | &nbsp;&nbsp;8215 | &nbsp;&nbsp;&nbsp;&nbsp;143352 |
| Astria Therapeutics, Inc. (A) | &nbsp;&nbsp;6903 | &nbsp;&nbsp;&nbsp;&nbsp;37000 |
| aTyr Pharma, Inc. (A) | 13383 | &nbsp;&nbsp;&nbsp;&nbsp;67852 |
| Aura Biosciences, Inc. (A) | &nbsp;&nbsp;6524 | &nbsp;&nbsp;&nbsp;&nbsp;40840 |
| Aurinia Pharmaceuticals, Inc. (A) | 17590 | &nbsp;&nbsp;&nbsp;&nbsp;148987 |
| Avidity Biosciences, Inc. (A) | 16945 | &nbsp;&nbsp;&nbsp;&nbsp;481238 |
| Avita Medical, Inc. (A)(C) | &nbsp;&nbsp;4717 | &nbsp;&nbsp;&nbsp;&nbsp;24953 |
| Beam Therapeutics, Inc. (A) | 14212 | &nbsp;&nbsp;&nbsp;&nbsp;241746 |
| Bicara Therapeutics, Inc. (A)(C) | &nbsp;&nbsp;5230 | &nbsp;&nbsp;&nbsp;&nbsp;48587 |
| BioCryst Pharmaceuticals, Inc. (A) | 31039 | &nbsp;&nbsp;&nbsp;&nbsp;278109 |
| Biogen, Inc. (A) | 10346 | 1299354 |
| Biohaven, Ltd. (A) | 13513 | &nbsp;&nbsp;&nbsp;&nbsp;190668 |
| BioMarin Pharmaceutical, Inc. (A) | 31310 | 1721111 |
| Blueprint Medicines Corp. (A) | &nbsp;&nbsp;9435 | 1209378 |
| Bridgebio Pharma, Inc. (A) | 23081 | &nbsp;&nbsp;&nbsp;&nbsp;996638 |
| Candel Therapeutics, Inc. (A)(C) | &nbsp;&nbsp;6036 | &nbsp;&nbsp;&nbsp;&nbsp;30542 |
| Capricor Therapeutics, Inc. (A)(C) | &nbsp;&nbsp;5748 | &nbsp;&nbsp;&nbsp;&nbsp;57078 |
| Cardiff Oncology, Inc. (A)(C) | &nbsp;&nbsp;9586 | &nbsp;&nbsp;&nbsp;&nbsp;30196 |
| CareDx, Inc. (A) | &nbsp;&nbsp;8081 | &nbsp;&nbsp;&nbsp;&nbsp;157903 |
| Cargo Therapeutics, Inc. (A) | &nbsp;&nbsp;6032 | &nbsp;&nbsp;&nbsp;&nbsp;24852 |
| Cartesian Therapeutics, Inc., CVR (A)(D) | 19937 | &nbsp;&nbsp;&nbsp;&nbsp;51437 |
| Catalyst Pharmaceuticals, Inc. (A) | 17103 | &nbsp;&nbsp;&nbsp;&nbsp;371135 |
| Celcuity, Inc. (A) | &nbsp;&nbsp;4674 | &nbsp;&nbsp;&nbsp;&nbsp;62398 |
| Celldex Therapeutics, Inc. (A) | &nbsp;&nbsp;9829 | &nbsp;&nbsp;&nbsp;&nbsp;200020 |
| CG Oncology, Inc. (A) | &nbsp;&nbsp;8312 | &nbsp;&nbsp;&nbsp;&nbsp;216112 |
| Chinook Therapeutics, Inc. (A)(D) | &nbsp;&nbsp;9357 | &nbsp;&nbsp;&nbsp;&nbsp;13110 |
| Cidara Therapeutics, Inc. (A) | &nbsp;&nbsp;1557 | &nbsp;&nbsp;&nbsp;&nbsp;75841 |
| Cogent Biosciences, Inc. (A) | 16028 | &nbsp;&nbsp;&nbsp;&nbsp;115081 |
| Compass Therapeutics, Inc. (A) | 14310 | &nbsp;&nbsp;&nbsp;&nbsp;37206 |
| Corvus Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;8294 | &nbsp;&nbsp;&nbsp;&nbsp;33176 |
| Crinetics Pharmaceuticals, Inc. (A) | 13408 | &nbsp;&nbsp;&nbsp;&nbsp;385614 |
| CRISPR Therapeutics AG (A) | 12223 | &nbsp;&nbsp;&nbsp;&nbsp;594527 |
| CSL, Ltd. | 56182 | 8874540 |
| Cullinan Therapeutics, Inc. (A) | &nbsp;&nbsp;7804 | &nbsp;&nbsp;&nbsp;&nbsp;58764 |
| Cytokinetics, Inc. (A) | 36780 | 1215211 |
| Day One Biopharmaceuticals, Inc. (A) | 11204 | &nbsp;&nbsp;&nbsp;&nbsp;72826 |
| Denali Therapeutics, Inc. (A) | 19852 | &nbsp;&nbsp;&nbsp;&nbsp;277729 |
| Design Therapeutics, Inc. (A) | &nbsp;&nbsp;5105 | &nbsp;&nbsp;&nbsp;&nbsp;17204 |
| Dianthus Therapeutics, Inc. (A)(C) | &nbsp;&nbsp;3005 | &nbsp;&nbsp;&nbsp;&nbsp;55983 |
| Disc Medicine, Inc. (A) | &nbsp;&nbsp;3670 | &nbsp;&nbsp;&nbsp;&nbsp;194363 |
| Dynavax Technologies Corp. (A) | 15758 | &nbsp;&nbsp;&nbsp;&nbsp;156319 |
| Dyne Therapeutics, Inc. (A) | 13994 | &nbsp;&nbsp;&nbsp;&nbsp;133223 |
| Editas Medicine, Inc. (A) | 13293 | &nbsp;&nbsp;&nbsp;&nbsp;29245 |
| Emergent BioSolutions, Inc. (A) | &nbsp;&nbsp;8040 | &nbsp;&nbsp;&nbsp;&nbsp;51295 |
| Enanta Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;3291 | &nbsp;&nbsp;&nbsp;&nbsp;24880 |
| Entrada Therapeutics, Inc. (A) | &nbsp;&nbsp;3696 | &nbsp;&nbsp;&nbsp;&nbsp;24837 |
| Erasca, Inc. (A) | 27770 | &nbsp;&nbsp;&nbsp;&nbsp;35268 |
| Exelixis, Inc. (A) | 44524 | 1962395 |
| Fate Therapeutics, Inc. (A) | 18789 | &nbsp;&nbsp;&nbsp;&nbsp;21044 |
| Fennec Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;4013 | &nbsp;&nbsp;&nbsp;&nbsp;33308 |
| Genmab A/S (A) | &nbsp;&nbsp;7440 | 1545053 |
| Geron Corp. (A) | 91446 | &nbsp;&nbsp;&nbsp;&nbsp;128939 |
| Gilead Sciences, Inc. | 87829 | 9737601 |
| Gossamer Bio, Inc. (A) | 29440 | &nbsp;&nbsp;&nbsp;&nbsp;36211 |
| GRAIL, Inc. (A) | &nbsp;&nbsp;4517 | &nbsp;&nbsp;&nbsp;&nbsp;232264 |
| Grifols SA (A) | 34610 | &nbsp;&nbsp;&nbsp;&nbsp;422311 |
| Halozyme Therapeutics, Inc. (A) | 20118 | 1046538 |
| Heron Therapeutics, Inc. (A) | 23162 | &nbsp;&nbsp;&nbsp;&nbsp;47945 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Biotechnology (continued)** | **Biotechnology (continued)** |  |
| Humacyte, Inc. (A)(C) | 18943 | $&nbsp;&nbsp;&nbsp;&nbsp;39591 |
| Icosavax, Inc. (A)(D) | &nbsp;&nbsp;4180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1296 |
| Ideaya Biosciences, Inc. (A) | 12564 | &nbsp;&nbsp;&nbsp;&nbsp;264095 |
| ImmunityBio, Inc. (A)(C) | 34339 | &nbsp;&nbsp;&nbsp;&nbsp;90655 |
| Immunome, Inc. (A) | 11100 | &nbsp;&nbsp;&nbsp;&nbsp;103230 |
| Immunovant, Inc. (A)(C) | 10371 | &nbsp;&nbsp;&nbsp;&nbsp;165936 |
| Incyte Corp. (A) | 11344 | &nbsp;&nbsp;&nbsp;&nbsp;772526 |
| Inhibrx Biosciences, Inc. (A) | &nbsp;&nbsp;1614 | &nbsp;&nbsp;&nbsp;&nbsp;23032 |
| Inhibrx, Inc. (A)(D) | &nbsp;&nbsp;5368 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3382 |
| Inmune Bio, Inc. (A)(C) | &nbsp;&nbsp;2857 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6600 |
| Intellia Therapeutics, Inc. (A) | 15424 | &nbsp;&nbsp;&nbsp;&nbsp;144677 |
| Iovance Biotherapeutics, Inc. (A)(C) | 38563 | &nbsp;&nbsp;&nbsp;&nbsp;66328 |
| iTeos Therapeutics, Inc. (A) | &nbsp;&nbsp;4707 | &nbsp;&nbsp;&nbsp;&nbsp;46929 |
| Jade Biosciences, Inc. | &nbsp;&nbsp;4979 | &nbsp;&nbsp;&nbsp;&nbsp;49740 |
| Janux Therapeutics, Inc. (A) | &nbsp;&nbsp;5872 | &nbsp;&nbsp;&nbsp;&nbsp;135643 |
| KalVista Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;6005 | &nbsp;&nbsp;&nbsp;&nbsp;67887 |
| Keros Therapeutics, Inc. (A) | &nbsp;&nbsp;5100 | &nbsp;&nbsp;&nbsp;&nbsp;68085 |
| Krystal Biotech, Inc. (A) | &nbsp;&nbsp;3658 | &nbsp;&nbsp;&nbsp;&nbsp;502829 |
| Kura Oncology, Inc. (A) | 12524 | &nbsp;&nbsp;&nbsp;&nbsp;72263 |
| Kymera Therapeutics, Inc. (A) | &nbsp;&nbsp;6962 | &nbsp;&nbsp;&nbsp;&nbsp;303822 |
| Larimar Therapeutics, Inc. (A) | &nbsp;&nbsp;7300 | &nbsp;&nbsp;&nbsp;&nbsp;21097 |
| Madrigal Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;2493 | &nbsp;&nbsp;&nbsp;&nbsp;754482 |
| MannKind Corp. (A) | 45415 | &nbsp;&nbsp;&nbsp;&nbsp;169852 |
| MeiraGTx Holdings PLC (A) | &nbsp;&nbsp;6655 | &nbsp;&nbsp;&nbsp;&nbsp;43391 |
| Merrimack Pharmaceuticals, Inc. (A)(D) | &nbsp;&nbsp;1515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45 |
| Metsera, Inc. (A)(C) | &nbsp;&nbsp;2679 | &nbsp;&nbsp;&nbsp;&nbsp;76218 |
| MiMedx Group, Inc. (A) | 18256 | &nbsp;&nbsp;&nbsp;&nbsp;111544 |
| Mineralys Therapeutics, Inc. (A) | &nbsp;&nbsp;6027 | &nbsp;&nbsp;&nbsp;&nbsp;81545 |
| Mirum Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;6452 | &nbsp;&nbsp;&nbsp;&nbsp;328342 |
| Moderna, Inc. (A) | 24030 | &nbsp;&nbsp;&nbsp;&nbsp;662988 |
| Monte Rosa Therapeutics, Inc. (A) | &nbsp;&nbsp;7319 | &nbsp;&nbsp;&nbsp;&nbsp;33009 |
| Myriad Genetics, Inc. (A) | 13861 | &nbsp;&nbsp;&nbsp;&nbsp;73602 |
| Neurocrine Biosciences, Inc. (A) | 16158 | 2030899 |
| Neurogene, Inc. (A) | &nbsp;&nbsp;1512 | &nbsp;&nbsp;&nbsp;&nbsp;22604 |
| Novavax, Inc. (A)(C) | 22207 | &nbsp;&nbsp;&nbsp;&nbsp;139904 |
| Nurix Therapeutics, Inc. (A) | 11337 | &nbsp;&nbsp;&nbsp;&nbsp;129128 |
| Nuvalent, Inc., Class A (A) | &nbsp;&nbsp;6358 | &nbsp;&nbsp;&nbsp;&nbsp;485115 |
| Olema Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;9190 | &nbsp;&nbsp;&nbsp;&nbsp;39149 |
| Organogenesis Holdings, Inc. (A) | 10742 | &nbsp;&nbsp;&nbsp;&nbsp;39316 |
| ORIC Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;6823 | &nbsp;&nbsp;&nbsp;&nbsp;69253 |
| Oruka Therapeutics, Inc. | &nbsp;&nbsp;4248 | &nbsp;&nbsp;&nbsp;&nbsp;47620 |
| Palvella Therapeutics, Inc. (A) | &nbsp;&nbsp;1103 | &nbsp;&nbsp;&nbsp;&nbsp;24862 |
| PDL BioPharma, Inc. (A)(D) | 23030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3685 |
| Perspective Therapeutics, Inc. (A) | &nbsp;&nbsp;9161 | &nbsp;&nbsp;&nbsp;&nbsp;31514 |
| Praxis Precision Medicines, Inc. (A) | &nbsp;&nbsp;2666 | &nbsp;&nbsp;&nbsp;&nbsp;112105 |
| Precigen, Inc. (A)(C) | 23690 | &nbsp;&nbsp;&nbsp;&nbsp;33640 |
| Prime Medicine, Inc. (A)(C) | &nbsp;&nbsp;9397 | &nbsp;&nbsp;&nbsp;&nbsp;23211 |
| Protagonist Therapeutics, Inc. (A) | &nbsp;&nbsp;8644 | &nbsp;&nbsp;&nbsp;&nbsp;477754 |
| Prothena Corp. PLC (A) | &nbsp;&nbsp;6211 | &nbsp;&nbsp;&nbsp;&nbsp;37701 |
| PTC Therapeutics, Inc. (A) | 11485 | &nbsp;&nbsp;&nbsp;&nbsp;560927 |
| Puma Biotechnology, Inc. (A) | &nbsp;&nbsp;6714 | &nbsp;&nbsp;&nbsp;&nbsp;23029 |
| Recursion Pharmaceuticals, Inc., Class A (A)(C) | 50304 | &nbsp;&nbsp;&nbsp;&nbsp;254538 |
| Regeneron Pharmaceuticals, Inc. | &nbsp;&nbsp;7332 | 3849300 |
| REGENXBIO, Inc. (A) | &nbsp;&nbsp;7112 | &nbsp;&nbsp;&nbsp;&nbsp;58390 |
| Regulus Therapeutics, Inc. (A)(D) | &nbsp;&nbsp;9005 | &nbsp;&nbsp;&nbsp;&nbsp;10446 |
| Relay Therapeutics, Inc. (A) | 20377 | &nbsp;&nbsp;&nbsp;&nbsp;70504 |
| Replimune Group, Inc. (A) | &nbsp;&nbsp;9991 | &nbsp;&nbsp;&nbsp;&nbsp;92816 |
| Rezolute, Inc. (A) | 10302 | &nbsp;&nbsp;&nbsp;&nbsp;45947 |
| Rhythm Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;8058 | &nbsp;&nbsp;&nbsp;&nbsp;509185 |
| Rigel Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;2767 | &nbsp;&nbsp;&nbsp;&nbsp;51826 |
| Rocket Pharmaceuticals, Inc. (A) | 13852 | &nbsp;&nbsp;&nbsp;&nbsp;33937 |
| Roivant Sciences, Ltd. (A) | 68734 | &nbsp;&nbsp;&nbsp;&nbsp;774632 |
| Sage Therapeutics, Inc. (A) | &nbsp;&nbsp;8588 | &nbsp;&nbsp;&nbsp;&nbsp;78323 |
| Sana Biotechnology, Inc. (A)(C) | 20390 | &nbsp;&nbsp;&nbsp;&nbsp;55665 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 129 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Biotechnology (continued)** | **Biotechnology (continued)** |  |
| Sarepta Therapeutics, Inc. (A) | &nbsp;&nbsp;16045 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;274370 |
| Savara, Inc. (A) | &nbsp;&nbsp;21133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48183 |
| Scholar Rock Holding Corp. (A) | &nbsp;&nbsp;12029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;426067 |
| SELLAS Life Sciences Group, Inc. (A) | &nbsp;&nbsp;15087 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33041 |
| Sionna Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;1958 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33971 |
| Soleno Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;5941 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;497737 |
| Solid Biosciences, Inc. (A) | &nbsp;&nbsp;&nbsp;9993 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48666 |
| SpringWorks Therapeutics, Inc. (A) | &nbsp;&nbsp;10732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;504297 |
| Spyre Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;7463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111721 |
| Stoke Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;6154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69848 |
| Swedish Orphan Biovitrum AB (A) | &nbsp;&nbsp;22718 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;691425 |
| Syndax Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;12958 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121352 |
| Tango Therapeutics, Inc. (A)(C) | &nbsp;&nbsp;11544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59105 |
| Taysha Gene Therapies, Inc. (A)(C) | &nbsp;&nbsp;24927 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57581 |
| Tectonic Therapeutic, Inc. (A) | &nbsp;&nbsp;&nbsp;1753 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34832 |
| TG Therapeutics, Inc. (A) | &nbsp;&nbsp;21452 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;772057 |
| Tonix Pharmaceuticals Holding Corp. (A) | &nbsp;&nbsp;&nbsp;1127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40549 |
| Tourmaline Bio, Inc. (A) | &nbsp;&nbsp;&nbsp;2923 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46739 |
| Travere Therapeutics, Inc. (A) | &nbsp;&nbsp;13120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194176 |
| Twist Bioscience Corp. (A) | &nbsp;&nbsp;&nbsp;8748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;321839 |
| Tyra Biosciences, Inc. (A) | &nbsp;&nbsp;&nbsp;3857 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36911 |
| United Therapeutics Corp. (A) | &nbsp;&nbsp;&nbsp;7364 | &nbsp;&nbsp;&nbsp;&nbsp;2116045 |
| Upstream Bio, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;5307 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58271 |
| UroGen Pharma, Ltd. (A)(C) | &nbsp;&nbsp;&nbsp;5523 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75665 |
| Vanda Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;8626 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40715 |
| Vaxcyte, Inc. (A) | &nbsp;&nbsp;18662 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;606702 |
| Vera Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;7654 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180328 |
| Veracyte, Inc. (A) | &nbsp;&nbsp;11615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;313953 |
| Verastem, Inc. (A) | &nbsp;&nbsp;&nbsp;7147 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29660 |
| Vericel Corp. (A) | &nbsp;&nbsp;&nbsp;7473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;317976 |
| Vertex Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;18132 | &nbsp;&nbsp;&nbsp;&nbsp;8072366 |
| Verve Therapeutics, Inc. (A) | &nbsp;&nbsp;10103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113457 |
| Vir Biotechnology, Inc. (A) | &nbsp;&nbsp;13670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68897 |
| Viridian Therapeutics, Inc. (A) | &nbsp;&nbsp;10432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145839 |
| Voyager Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;8311 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25847 |
| Xencor, Inc. (A) | &nbsp;&nbsp;10769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84644 |
| Xenon Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;11370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355881 |
| XOMA Royalty Corp. (A) | &nbsp;&nbsp;&nbsp;1281 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32281 |
| Y-mAbs Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;5459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24620 |
| Zenas Biopharma, Inc. (A) | &nbsp;&nbsp;&nbsp;2577 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24971 |
| Zymeworks, Inc. (A) | &nbsp;&nbsp;&nbsp;7729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96999 |
|  |  | 111290292 |
| **Health care equipment and supplies – 2.0%** | **Health care equipment and supplies – 2.0%** |  |
| Abbott Laboratories | 122844 | &nbsp;&nbsp;&nbsp;16708012 |
| Accuray, Inc. (A) | &nbsp;&nbsp;17674 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24213 |
| Alcon, Inc. | &nbsp;&nbsp;57980 | &nbsp;&nbsp;&nbsp;&nbsp;5141836 |
| Align Technology, Inc. (A) | &nbsp;&nbsp;&nbsp;4811 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;910867 |
| Alphatec Holdings, Inc. (A) | &nbsp;&nbsp;17291 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191930 |
| AngioDynamics, Inc. (A) | &nbsp;&nbsp;&nbsp;6095 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60462 |
| Artivion, Inc. (A) | &nbsp;&nbsp;&nbsp;5736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178390 |
| AtriCure, Inc. (A) | &nbsp;&nbsp;&nbsp;7221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236632 |
| Avanos Medical, Inc. (A) | &nbsp;&nbsp;&nbsp;6897 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84419 |
| Axogen, Inc. (A) | &nbsp;&nbsp;&nbsp;6686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72543 |
| Baxter International, Inc. | &nbsp;&nbsp;36233 | &nbsp;&nbsp;&nbsp;&nbsp;1097135 |
| Becton, Dickinson and Company | &nbsp;&nbsp;20236 | &nbsp;&nbsp;&nbsp;&nbsp;3485651 |
| Beta Bionics, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;2068 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30110 |
| BioMerieux | &nbsp;&nbsp;&nbsp;4807 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;664888 |
| Bioventus, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;7267 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48108 |
| Boston Scientific Corp. (A) | 104458 | &nbsp;&nbsp;&nbsp;11219834 |
| Butterfly Network, Inc. (A) | &nbsp;&nbsp;29116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58232 |
| Ceribell, Inc. (A) | &nbsp;&nbsp;&nbsp;3899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73028 |
| Cerus Corp. (A) | &nbsp;&nbsp;30342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42782 |
| ClearPoint Neuro, Inc. (A) | &nbsp;&nbsp;&nbsp;4024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48047 |
| Cochlear, Ltd. | &nbsp;&nbsp;&nbsp;7588 | &nbsp;&nbsp;&nbsp;&nbsp;1500725 |
| Coloplast A/S, B Shares | &nbsp;&nbsp;14634 | &nbsp;&nbsp;&nbsp;&nbsp;1393200 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Health care equipment and supplies (continued)** | **Health care equipment and supplies (continued)** |  |
| CONMED Corp. | &nbsp;&nbsp;&nbsp;4603 | $&nbsp;&nbsp;&nbsp;&nbsp;239724 |
| Delcath Systems, Inc. (A) | &nbsp;&nbsp;&nbsp;4585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62356 |
| Demant A/S (A) | &nbsp;&nbsp;&nbsp;9923 | &nbsp;&nbsp;&nbsp;&nbsp;414598 |
| Dentsply Sirona, Inc. | &nbsp;&nbsp;32538 | &nbsp;&nbsp;&nbsp;&nbsp;516703 |
| DexCom, Inc. (A) | &nbsp;&nbsp;27685 | &nbsp;&nbsp;&nbsp;2416624 |
| DiaSorin SpA | &nbsp;&nbsp;&nbsp;2596 | &nbsp;&nbsp;&nbsp;&nbsp;277850 |
| Edwards Lifesciences Corp. (A) | &nbsp;&nbsp;41417 | &nbsp;&nbsp;&nbsp;3239224 |
| Electromed, Inc. (A) | &nbsp;&nbsp;&nbsp;1170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25728 |
| Embecta Corp. | &nbsp;&nbsp;&nbsp;8857 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85824 |
| Enovis Corp. (A) | &nbsp;&nbsp;&nbsp;8419 | &nbsp;&nbsp;&nbsp;&nbsp;264020 |
| Envista Holdings Corp. (A) | &nbsp;&nbsp;27671 | &nbsp;&nbsp;&nbsp;&nbsp;540691 |
| EssilorLuxottica SA | &nbsp;&nbsp;34505 | &nbsp;&nbsp;&nbsp;9474822 |
| Fisher & Paykel Healthcare Corp., Ltd. | &nbsp;&nbsp;68023 | &nbsp;&nbsp;&nbsp;1494106 |
| GE HealthCare Technologies, Inc. | &nbsp;&nbsp;32330 | &nbsp;&nbsp;&nbsp;2394683 |
| Glaukos Corp. (A) | &nbsp;&nbsp;&nbsp;8248 | &nbsp;&nbsp;&nbsp;&nbsp;851936 |
| Globus Medical, Inc., Class A (A) | &nbsp;&nbsp;18441 | &nbsp;&nbsp;&nbsp;1088388 |
| Haemonetics Corp. (A) | &nbsp;&nbsp;15625 | &nbsp;&nbsp;&nbsp;1165781 |
| Hologic, Inc. (A) | &nbsp;&nbsp;15734 | &nbsp;&nbsp;&nbsp;1025227 |
| Hoya Corp. | &nbsp;&nbsp;40130 | &nbsp;&nbsp;&nbsp;4765923 |
| ICU Medical, Inc. (A) | &nbsp;&nbsp;&nbsp;3564 | &nbsp;&nbsp;&nbsp;&nbsp;470983 |
| IDEXX Laboratories, Inc. (A) | &nbsp;&nbsp;&nbsp;5678 | &nbsp;&nbsp;&nbsp;3045339 |
| Inogen, Inc. (A) | &nbsp;&nbsp;&nbsp;3805 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26749 |
| Insulet Corp. (A) | &nbsp;&nbsp;&nbsp;4969 | &nbsp;&nbsp;&nbsp;1561160 |
| Integer Holdings Corp. (A) | &nbsp;&nbsp;&nbsp;5037 | &nbsp;&nbsp;&nbsp;&nbsp;619400 |
| Integra LifeSciences Holdings Corp. (A) | &nbsp;&nbsp;10059 | &nbsp;&nbsp;&nbsp;&nbsp;123424 |
| Intuitive Surgical, Inc. (A) | &nbsp;&nbsp;25307 | 13752077 |
| iRadimed Corp. | &nbsp;&nbsp;&nbsp;1330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79521 |
| iRhythm Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;4707 | &nbsp;&nbsp;&nbsp;&nbsp;724690 |
| Kestra Medical Technologies, Ltd. (A) | &nbsp;&nbsp;&nbsp;2229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36957 |
| Koninklijke Philips NV | &nbsp;&nbsp;96555 | &nbsp;&nbsp;&nbsp;2318513 |
| Lantheus Holdings, Inc. (A) | &nbsp;&nbsp;21263 | &nbsp;&nbsp;&nbsp;1740589 |
| LeMaitre Vascular, Inc. | &nbsp;&nbsp;&nbsp;3105 | &nbsp;&nbsp;&nbsp;&nbsp;257870 |
| LivaNova PLC (A) | &nbsp;&nbsp;16960 | &nbsp;&nbsp;&nbsp;&nbsp;763539 |
| Masimo Corp. (A) | &nbsp;&nbsp;&nbsp;7347 | &nbsp;&nbsp;&nbsp;1235912 |
| Medtronic PLC | &nbsp;&nbsp;90555 | &nbsp;&nbsp;&nbsp;7893679 |
| Merit Medical Systems, Inc. (A) | &nbsp;&nbsp;&nbsp;8539 | &nbsp;&nbsp;&nbsp;&nbsp;798226 |
| Neogen Corp. (A) | &nbsp;&nbsp;32960 | &nbsp;&nbsp;&nbsp;&nbsp;157549 |
| NeuroPace, Inc. (A) | &nbsp;&nbsp;&nbsp;3753 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41808 |
| Novocure, Ltd. (A) | &nbsp;&nbsp;14991 | &nbsp;&nbsp;&nbsp;&nbsp;266840 |
| Olympus Corp. | 132170 | &nbsp;&nbsp;&nbsp;1569958 |
| Omnicell, Inc. (A) | &nbsp;&nbsp;&nbsp;6919 | &nbsp;&nbsp;&nbsp;&nbsp;203419 |
| OraSure Technologies, Inc. (A) | &nbsp;&nbsp;12623 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37869 |
| Orthofix Medical, Inc. (A) | &nbsp;&nbsp;&nbsp;6160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68684 |
| OrthoPediatrics Corp. (A) | &nbsp;&nbsp;&nbsp;2647 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56858 |
| Outset Medical, Inc. (A) | &nbsp;&nbsp;&nbsp;2680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51483 |
| Paragon 28, Inc. (A)(D) | &nbsp;&nbsp;&nbsp;6945 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625 |
| Penumbra, Inc. (A) | &nbsp;&nbsp;&nbsp;6323 | &nbsp;&nbsp;&nbsp;1622671 |
| PROCEPT BioRobotics Corp. (A) | &nbsp;&nbsp;&nbsp;7781 | &nbsp;&nbsp;&nbsp;&nbsp;448186 |
| Pulse Biosciences, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;2768 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41769 |
| QuidelOrtho Corp. (A) | &nbsp;&nbsp;10068 | &nbsp;&nbsp;&nbsp;&nbsp;290160 |
| ResMed, Inc. | &nbsp;&nbsp;10353 | &nbsp;&nbsp;&nbsp;2671074 |
| RxSight, Inc. (A) | &nbsp;&nbsp;&nbsp;5663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73619 |
| SANUWAVE Health, Inc. (A) | &nbsp;&nbsp;&nbsp;1089 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35785 |
| Semler Scientific, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;1257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48696 |
| SI-BONE, Inc. (A) | &nbsp;&nbsp;&nbsp;5752 | &nbsp;&nbsp;&nbsp;&nbsp;108253 |
| Siemens Healthineers AG (B) | &nbsp;&nbsp;39264 | &nbsp;&nbsp;&nbsp;2179715 |
| Sight Sciences, Inc. (A) | &nbsp;&nbsp;&nbsp;5554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22938 |
| Smith & Nephew PLC | &nbsp;&nbsp;96551 | &nbsp;&nbsp;&nbsp;1478604 |
| Solventum Corp. (A) | &nbsp;&nbsp;&nbsp;9773 | &nbsp;&nbsp;&nbsp;&nbsp;741184 |
| Sonova Holding AG | &nbsp;&nbsp;&nbsp;5881 | &nbsp;&nbsp;&nbsp;1753864 |
| STAAR Surgical Company (A) | &nbsp;&nbsp;&nbsp;7495 | &nbsp;&nbsp;&nbsp;&nbsp;125766 |
| Stereotaxis, Inc. (A) | &nbsp;&nbsp;10546 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22358 |
| STERIS PLC | &nbsp;&nbsp;&nbsp;6937 | &nbsp;&nbsp;&nbsp;1666406 |
| Straumann Holding AG | &nbsp;&nbsp;12951 | &nbsp;&nbsp;&nbsp;1695153 |
| Stryker Corp. | &nbsp;&nbsp;24285 | &nbsp;&nbsp;&nbsp;9607875 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 130 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Health care equipment and supplies (continued)** | **Health care equipment and supplies (continued)** |  |
| Surmodics, Inc. (A) | &nbsp;&nbsp;&nbsp;2183 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64857 |
| Sysmex Corp. | &nbsp;&nbsp;58429 | &nbsp;&nbsp;&nbsp;&nbsp;1017086 |
| Tactile Systems Technology, Inc. (A) | &nbsp;&nbsp;&nbsp;3771 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38238 |
| Tandem Diabetes Care, Inc. (A) | &nbsp;&nbsp;&nbsp;9953 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185524 |
| Terumo Corp. | 154609 | &nbsp;&nbsp;&nbsp;&nbsp;2837363 |
| The Cooper Companies, Inc. (A) | &nbsp;&nbsp;14120 | &nbsp;&nbsp;&nbsp;&nbsp;1004779 |
| TransMedics Group, Inc. (A) | &nbsp;&nbsp;&nbsp;4911 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;658123 |
| Treace Medical Concepts, Inc. (A) | &nbsp;&nbsp;&nbsp;7563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44470 |
| UFP Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;1117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;272727 |
| Utah Medical Products, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;452 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25728 |
| Varex Imaging Corp. (A) | &nbsp;&nbsp;&nbsp;6326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54846 |
| Zimmer Biomet Holdings, Inc. | &nbsp;&nbsp;13970 | &nbsp;&nbsp;&nbsp;&nbsp;1274204 |
| Zimvie, Inc. (A) | &nbsp;&nbsp;&nbsp;4508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42150 |
|  |  | 143673144 |
| **Health care providers and services – 1.4%** | **Health care providers and services – 1.4%** |  |
| Acadia Healthcare Company, Inc. (A) | &nbsp;&nbsp;15040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;341258 |
| AdaptHealth Corp. (A) | &nbsp;&nbsp;13743 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129596 |
| Addus HomeCare Corp. (A) | &nbsp;&nbsp;&nbsp;2670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;307557 |
| agilon health, Inc. (A) | &nbsp;&nbsp;46229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106327 |
| Alignment Healthcare, Inc. (A) | &nbsp;&nbsp;19027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;266378 |
| Amedisys, Inc. (A) | &nbsp;&nbsp;&nbsp;5347 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;526091 |
| AMN Healthcare Services, Inc. (A) | &nbsp;&nbsp;&nbsp;5698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117778 |
| Ardent Health, Inc. (A) | &nbsp;&nbsp;&nbsp;3678 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50241 |
| Astrana Health, Inc. (A) | &nbsp;&nbsp;&nbsp;6158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153211 |
| Aveanna Healthcare Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;6930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36244 |
| BrightSpring Health Services, Inc. (A) | &nbsp;&nbsp;12495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;294757 |
| Brookdale Senior Living, Inc. (A) | &nbsp;&nbsp;34047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236967 |
| Cardinal Health, Inc. | &nbsp;&nbsp;16852 | &nbsp;&nbsp;&nbsp;&nbsp;2831136 |
| Castle Biosciences, Inc. (A) | &nbsp;&nbsp;&nbsp;4272 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87234 |
| Cencora, Inc. | &nbsp;&nbsp;12180 | &nbsp;&nbsp;&nbsp;&nbsp;3652173 |
| Centene Corp. (A) | &nbsp;&nbsp;35134 | &nbsp;&nbsp;&nbsp;&nbsp;1907074 |
| Chemed Corp. | &nbsp;&nbsp;&nbsp;2388 | &nbsp;&nbsp;&nbsp;&nbsp;1162789 |
| Clover Health Investments Corp. (A) | &nbsp;&nbsp;60055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167553 |
| Community Health Systems, Inc. (A) | &nbsp;&nbsp;19722 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67055 |
| Concentra Group Holdings Parent, Inc. | &nbsp;&nbsp;17430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358535 |
| CorVel Corp. (A) | &nbsp;&nbsp;&nbsp;4309 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;442879 |
| Cross Country Healthcare, Inc. (A) | &nbsp;&nbsp;&nbsp;4828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63005 |
| CVS Health Corp. | &nbsp;&nbsp;89319 | &nbsp;&nbsp;&nbsp;&nbsp;6161225 |
| DaVita, Inc. (A) | &nbsp;&nbsp;&nbsp;2932 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;417663 |
| DocGo, Inc. (A) | &nbsp;&nbsp;15108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23720 |
| Elevance Health, Inc. | &nbsp;&nbsp;15952 | &nbsp;&nbsp;&nbsp;&nbsp;6204690 |
| Encompass Health Corp. | &nbsp;&nbsp;16457 | &nbsp;&nbsp;&nbsp;&nbsp;2018122 |
| Enhabit, Inc. (A) | &nbsp;&nbsp;&nbsp;7589 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73158 |
| Fresenius Medical Care AG | &nbsp;&nbsp;25533 | &nbsp;&nbsp;&nbsp;&nbsp;1467002 |
| Fresenius SE & Company KGaA | &nbsp;&nbsp;49014 | &nbsp;&nbsp;&nbsp;&nbsp;2466521 |
| Fulgent Genetics, Inc. (A) | &nbsp;&nbsp;&nbsp;3239 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64391 |
| GeneDx Holdings Corp. (A) | &nbsp;&nbsp;&nbsp;2776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;256253 |
| Guardant Health, Inc. (A) | &nbsp;&nbsp;17636 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;917777 |
| HCA Healthcare, Inc. | &nbsp;&nbsp;12230 | &nbsp;&nbsp;&nbsp;&nbsp;4685313 |
| HealthEquity, Inc. (A) | &nbsp;&nbsp;26729 | &nbsp;&nbsp;&nbsp;&nbsp;2800130 |
| Henry Schein, Inc. (A) | &nbsp;&nbsp;&nbsp;8594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;627792 |
| Hims & Hers Health, Inc. (A)(C) | &nbsp;&nbsp;60153 | &nbsp;&nbsp;&nbsp;&nbsp;2998627 |
| Humana, Inc. | &nbsp;&nbsp;&nbsp;8522 | &nbsp;&nbsp;&nbsp;&nbsp;2083459 |
| Labcorp Holdings, Inc. | &nbsp;&nbsp;&nbsp;5910 | &nbsp;&nbsp;&nbsp;&nbsp;1551434 |
| LifeStance Health Group, Inc. (A) | &nbsp;&nbsp;20070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103762 |
| McKesson Corp. | &nbsp;&nbsp;&nbsp;8834 | &nbsp;&nbsp;&nbsp;&nbsp;6473379 |
| Molina Healthcare, Inc. (A) | &nbsp;&nbsp;&nbsp;3827 | &nbsp;&nbsp;&nbsp;&nbsp;1140063 |
| Nano-X Imaging, Ltd. (A)(C) | &nbsp;&nbsp;&nbsp;9775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50537 |
| National HealthCare Corp. | &nbsp;&nbsp;&nbsp;1885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201714 |
| National Research Corp. | &nbsp;&nbsp;&nbsp;1996 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33533 |
| NeoGenomics, Inc. (A) | &nbsp;&nbsp;19428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142019 |
| NMC Health PLC (A)(D) | &nbsp;&nbsp;19536 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Nutex Health, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;513 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63863 |
| OPKO Health, Inc. (A) | &nbsp;&nbsp;55041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72654 |
| Option Care Health, Inc. (A) | &nbsp;&nbsp;51014 | &nbsp;&nbsp;&nbsp;&nbsp;1656935 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Health care providers and services (continued)** | **Health care providers and services (continued)** |  |
| Owens & Minor, Inc. (A) | &nbsp;&nbsp;11286 | $&nbsp;&nbsp;&nbsp;&nbsp;102703 |
| PACS Group, Inc. (A) | &nbsp;&nbsp;&nbsp;6761 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87352 |
| Pediatrix Medical Group, Inc. (A) | &nbsp;&nbsp;12727 | &nbsp;&nbsp;&nbsp;&nbsp;182632 |
| Performant Healthcare, Inc. (A) | &nbsp;&nbsp;10650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42600 |
| Premier, Inc., Class A | &nbsp;&nbsp;13467 | &nbsp;&nbsp;&nbsp;&nbsp;295331 |
| Privia Health Group, Inc. (A) | &nbsp;&nbsp;17077 | &nbsp;&nbsp;&nbsp;&nbsp;392771 |
| Progyny, Inc. (A) | &nbsp;&nbsp;10222 | &nbsp;&nbsp;&nbsp;&nbsp;224884 |
| Quest Diagnostics, Inc. | &nbsp;&nbsp;&nbsp;7882 | &nbsp;&nbsp;&nbsp;1415844 |
| RadNet, Inc. (A) | &nbsp;&nbsp;&nbsp;9810 | &nbsp;&nbsp;&nbsp;&nbsp;558287 |
| Select Medical Holdings Corp. | &nbsp;&nbsp;16643 | &nbsp;&nbsp;&nbsp;&nbsp;252641 |
| Sigma Healthcare, Ltd. | 535758 | &nbsp;&nbsp;&nbsp;1054530 |
| Sonic Healthcare, Ltd. | &nbsp;&nbsp;52954 | &nbsp;&nbsp;&nbsp;&nbsp;934701 |
| Surgery Partners, Inc. (A) | &nbsp;&nbsp;11472 | &nbsp;&nbsp;&nbsp;&nbsp;255023 |
| Talkspace, Inc. (A) | &nbsp;&nbsp;19296 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53643 |
| Tenet Healthcare Corp. (A) | &nbsp;&nbsp;15165 | &nbsp;&nbsp;&nbsp;2669040 |
| The Cigna Group | &nbsp;&nbsp;18862 | &nbsp;&nbsp;&nbsp;6235400 |
| The Ensign Group, Inc. | &nbsp;&nbsp;17552 | &nbsp;&nbsp;&nbsp;2707572 |
| The Joint Corp. (A) | &nbsp;&nbsp;&nbsp;1821 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21014 |
| The Oncology Institute, Inc. (A) | &nbsp;&nbsp;&nbsp;9121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18698 |
| The Pennant Group, Inc. (A) | &nbsp;&nbsp;&nbsp;5125 | &nbsp;&nbsp;&nbsp;&nbsp;152981 |
| UnitedHealth Group, Inc. | &nbsp;&nbsp;64050 | 19981679 |
| Universal Health Services, Inc., Class B | &nbsp;&nbsp;&nbsp;4038 | &nbsp;&nbsp;&nbsp;&nbsp;731484 |
| US Physical Therapy, Inc. | &nbsp;&nbsp;&nbsp;2226 | &nbsp;&nbsp;&nbsp;&nbsp;174073 |
| Viemed Healthcare, Inc. (A) | &nbsp;&nbsp;&nbsp;5089 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35165 |
|  |  | 96641622 |
| **Health care technology – 0.1%** | **Health care technology – 0.1%** |  |
| Claritev Corp. (A) | &nbsp;&nbsp;&nbsp;1176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53073 |
| Definitive Healthcare Corp. (A) | &nbsp;&nbsp;&nbsp;6420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25038 |
| Doximity, Inc., Class A (A) | &nbsp;&nbsp;21796 | &nbsp;&nbsp;&nbsp;1336967 |
| Evolent Health, Inc., Class A (A) | &nbsp;&nbsp;17487 | &nbsp;&nbsp;&nbsp;&nbsp;196904 |
| Health Catalyst, Inc. (A) | &nbsp;&nbsp;10906 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41116 |
| HealthStream, Inc. | &nbsp;&nbsp;&nbsp;3823 | &nbsp;&nbsp;&nbsp;&nbsp;105782 |
| LifeMD, Inc. (A) | &nbsp;&nbsp;&nbsp;5540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75455 |
| M3, Inc. | &nbsp;&nbsp;51215 | &nbsp;&nbsp;&nbsp;&nbsp;703525 |
| OptimizeRx Corp. (A) | &nbsp;&nbsp;&nbsp;2701 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36464 |
| Phreesia, Inc. (A) | &nbsp;&nbsp;&nbsp;8395 | &nbsp;&nbsp;&nbsp;&nbsp;238922 |
| Pro Medicus, Ltd. | &nbsp;&nbsp;&nbsp;6666 | &nbsp;&nbsp;&nbsp;1247439 |
| Schrodinger, Inc. (A) | &nbsp;&nbsp;&nbsp;8402 | &nbsp;&nbsp;&nbsp;&nbsp;169048 |
| Simulations Plus, Inc. | &nbsp;&nbsp;&nbsp;2616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45649 |
| Teladoc Health, Inc. (A) | &nbsp;&nbsp;26174 | &nbsp;&nbsp;&nbsp;&nbsp;227976 |
| TruBridge, Inc. (A) | &nbsp;&nbsp;&nbsp;1611 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37730 |
| Waystar Holding Corp. (A) | &nbsp;&nbsp;13449 | &nbsp;&nbsp;&nbsp;&nbsp;549661 |
|  |  | &nbsp;&nbsp;&nbsp;5090749 |
| **Life sciences tools and services – 0.7%** | **Life sciences tools and services – 0.7%** |  |
| 10X Genomics, Inc., Class A (A) | &nbsp;&nbsp;15722 | &nbsp;&nbsp;&nbsp;&nbsp;182061 |
| Adaptive Biotechnologies Corp. (A) | &nbsp;&nbsp;22257 | &nbsp;&nbsp;&nbsp;&nbsp;259294 |
| Agilent Technologies, Inc. | &nbsp;&nbsp;20130 | &nbsp;&nbsp;&nbsp;2375541 |
| Avantor, Inc. (A) | 111254 | &nbsp;&nbsp;&nbsp;1497479 |
| Azenta, Inc. (A) | &nbsp;&nbsp;&nbsp;6050 | &nbsp;&nbsp;&nbsp;&nbsp;186219 |
| BioLife Solutions, Inc. (A) | &nbsp;&nbsp;&nbsp;5712 | &nbsp;&nbsp;&nbsp;&nbsp;123036 |
| Bio-Rad Laboratories, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;3037 | &nbsp;&nbsp;&nbsp;&nbsp;732889 |
| Bio-Techne Corp. | &nbsp;&nbsp;11069 | &nbsp;&nbsp;&nbsp;&nbsp;569500 |
| Bruker Corp. | &nbsp;&nbsp;18060 | &nbsp;&nbsp;&nbsp;&nbsp;744072 |
| Charles River Laboratories International, Inc. (A) | &nbsp;&nbsp;&nbsp;3468 | &nbsp;&nbsp;&nbsp;&nbsp;526200 |
| Codexis, Inc. (A) | &nbsp;&nbsp;12980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31671 |
| CryoPort, Inc. (A) | &nbsp;&nbsp;&nbsp;7488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55860 |
| Cytek Biosciences, Inc. (A) | &nbsp;&nbsp;18262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62091 |
| Danaher Corp. | &nbsp;&nbsp;44972 | &nbsp;&nbsp;&nbsp;8883769 |
| Eurofins Scientific SE | &nbsp;&nbsp;13738 | &nbsp;&nbsp;&nbsp;&nbsp;979043 |
| Fortrea Holdings, Inc. (A) | &nbsp;&nbsp;13816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68251 |
| Illumina, Inc. (A) | &nbsp;&nbsp;25845 | &nbsp;&nbsp;&nbsp;2465871 |
| IQVIA Holdings, Inc. (A) | &nbsp;&nbsp;11604 | &nbsp;&nbsp;&nbsp;1828674 |
| Lifecore Biomedical, Inc. (A) | &nbsp;&nbsp;&nbsp;4382 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35582 |
| Lonza Group AG | &nbsp;&nbsp;&nbsp;8380 | &nbsp;&nbsp;&nbsp;5993070 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 131 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Life sciences tools and services (continued)** | **Life sciences tools and services (continued)** |  |
| Maravai LifeSciences Holdings, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;19121 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46082 |
| MaxCyte, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;16558 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36096 |
| Medpace Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;3848 | &nbsp;&nbsp;&nbsp;1207733 |
| Mesa Laboratories, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;781 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73586 |
| Mettler-Toledo International, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;1467 | &nbsp;&nbsp;&nbsp;1723314 |
| Niagen Bioscience, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;7812 | &nbsp;&nbsp;&nbsp;&nbsp;112571 |
| OmniAb, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;17944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31223 |
| OmniAb, Inc., $12.50 Earnout Shares (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;649 |
| OmniAb, Inc., $15.00 Earnout Shares (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;553 |
| Pacific Biosciences of California, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;41819 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51856 |
| Personalis, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;7584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49751 |
| QIAGEN NV (A) | &nbsp;&nbsp;&nbsp;&nbsp;25075 | &nbsp;&nbsp;&nbsp;1208104 |
| Quanterix Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;5957 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39614 |
| Quantum-Si, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;21331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41809 |
| Repligen Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;8531 | &nbsp;&nbsp;&nbsp;1061086 |
| Revvity, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;8323 | &nbsp;&nbsp;&nbsp;&nbsp;805001 |
| Sartorius Stedim Biotech | &nbsp;&nbsp;&nbsp;&nbsp;3388 | &nbsp;&nbsp;&nbsp;&nbsp;810621 |
| Sotera Health Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;25026 | &nbsp;&nbsp;&nbsp;&nbsp;278289 |
| Standard BioTools, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;46978 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56374 |
| Thermo Fisher Scientific, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;26653 | 10806725 |
| Waters Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;4202 | &nbsp;&nbsp;&nbsp;1466666 |
| West Pharmaceutical Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;5073 | &nbsp;&nbsp;&nbsp;1109972 |
|  |  | 48617848 |
| **Pharmaceuticals – 4.1%** | **Pharmaceuticals – 4.1%** |  |
| Aclaris Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;14921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21188 |
| Alumis, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;7418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22254 |
| Amneal Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;22619 | &nbsp;&nbsp;&nbsp;&nbsp;182988 |
| Amphastar Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;5511 | &nbsp;&nbsp;&nbsp;&nbsp;126533 |
| Amylyx Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;10622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68087 |
| ANI Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;2694 | &nbsp;&nbsp;&nbsp;&nbsp;175784 |
| Aquestive Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;13265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43907 |
| Arvinas, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;9934 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73114 |
| Astellas Pharma, Inc. | &nbsp;&nbsp;209976 | &nbsp;&nbsp;&nbsp;2055865 |
| AstraZeneca PLC | &nbsp;&nbsp;179917 | 25038893 |
| Atea Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;13390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48204 |
| Avadel Pharmaceuticals PLC (A) | &nbsp;&nbsp;&nbsp;&nbsp;13411 | &nbsp;&nbsp;&nbsp;&nbsp;118687 |
| Axsome Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;5976 | &nbsp;&nbsp;&nbsp;&nbsp;623835 |
| Bayer AG | &nbsp;&nbsp;113989 | &nbsp;&nbsp;&nbsp;3434181 |
| Bristol-Myers Squibb Company | &nbsp;&nbsp;143689 | &nbsp;&nbsp;&nbsp;6651364 |
| Chugai Pharmaceutical Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;77928 | &nbsp;&nbsp;&nbsp;4069230 |
| CinCor Pharma, Inc. (A)(D) | &nbsp;&nbsp;&nbsp;&nbsp;3771 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11539 |
| Collegium Pharmaceutical, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;4745 | &nbsp;&nbsp;&nbsp;&nbsp;140310 |
| CorMedix, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;9588 | &nbsp;&nbsp;&nbsp;&nbsp;118124 |
| Daiichi Sankyo Company, Ltd. | &nbsp;&nbsp;199278 | &nbsp;&nbsp;&nbsp;4616890 |
| Edgewise Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;10875 | &nbsp;&nbsp;&nbsp;&nbsp;142571 |
| Eisai Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;30455 | &nbsp;&nbsp;&nbsp;&nbsp;874680 |
| Eli Lilly & Company | &nbsp;&nbsp;&nbsp;&nbsp;55541 | 43295876 |
| Enliven Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;4888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98053 |
| Esperion Therapeutics, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;30952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30469 |
| Eton Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;3975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56644 |
| Evolus, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;8068 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74306 |
| EyePoint Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;9303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87541 |
| Fulcrum Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;8171 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56216 |
| Galderma Group AG | &nbsp;&nbsp;&nbsp;&nbsp;12421 | &nbsp;&nbsp;&nbsp;1805463 |
| GSK PLC | &nbsp;&nbsp;477605 | &nbsp;&nbsp;&nbsp;9106234 |
| Haleon PLC | 1047116 | &nbsp;&nbsp;&nbsp;5381785 |
| Harmony Biosciences Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;6534 | &nbsp;&nbsp;&nbsp;&nbsp;206474 |
| Harrow, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;4700 | &nbsp;&nbsp;&nbsp;&nbsp;143538 |
| Hikma Pharmaceuticals PLC | &nbsp;&nbsp;&nbsp;&nbsp;19309 | &nbsp;&nbsp;&nbsp;&nbsp;526924 |
| Indivior PLC (A) | &nbsp;&nbsp;&nbsp;&nbsp;18015 | &nbsp;&nbsp;&nbsp;&nbsp;265541 |
| Innoviva, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;9487 | &nbsp;&nbsp;&nbsp;&nbsp;190594 |
| Ipsen SA | &nbsp;&nbsp;&nbsp;&nbsp;4376 | &nbsp;&nbsp;&nbsp;&nbsp;521260 |
| Jazz Pharmaceuticals PLC (A) | &nbsp;&nbsp;&nbsp;&nbsp;10063 | &nbsp;&nbsp;&nbsp;1067886 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** |  |
| Johnson & Johnson | 169884 | $&nbsp;&nbsp;&nbsp;25949781 |
| Kyowa Kirin Company, Ltd. | &nbsp;&nbsp;27445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;469783 |
| LENZ Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;2708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79371 |
| Ligand Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;2821 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320691 |
| Liquidia Corp. (A) | &nbsp;&nbsp;&nbsp;9660 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120364 |
| MBX Biosciences, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;2667 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30430 |
| MediWound, Ltd. (A)(C) | &nbsp;&nbsp;&nbsp;1312 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25413 |
| Merck & Company, Inc. | 177295 | &nbsp;&nbsp;&nbsp;14034672 |
| Merck KGaA | &nbsp;&nbsp;14996 | &nbsp;&nbsp;&nbsp;&nbsp;1944357 |
| Mind Medicine MindMed, Inc. (A)(C) | &nbsp;&nbsp;11461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74382 |
| Novartis AG | 220592 | &nbsp;&nbsp;&nbsp;26774816 |
| Novo Nordisk A/S, Class B | 373685 | &nbsp;&nbsp;&nbsp;25894131 |
| Nuvation Bio, Inc. (A)(C) | &nbsp;&nbsp;38028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74155 |
| Ocular Therapeutix, Inc. (A) | &nbsp;&nbsp;20924 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194175 |
| Omeros Corp. (A)(C) | &nbsp;&nbsp;&nbsp;9155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27465 |
| Ono Pharmaceutical Company, Ltd. | &nbsp;&nbsp;43397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470327 |
| Orion OYJ, Class B | &nbsp;&nbsp;12575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;946061 |
| Otsuka Holdings Company, Ltd. | &nbsp;&nbsp;51241 | &nbsp;&nbsp;&nbsp;&nbsp;2540492 |
| Pacira BioSciences, Inc. (A) | &nbsp;&nbsp;&nbsp;6907 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165077 |
| Perrigo Company PLC | &nbsp;&nbsp;22445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;599730 |
| Pfizer, Inc. | 401426 | &nbsp;&nbsp;&nbsp;&nbsp;9730566 |
| Phathom Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;6347 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60868 |
| Phibro Animal Health Corp., Class A | &nbsp;&nbsp;&nbsp;3067 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78331 |
| Poseida Therapeutics, Inc. (A)(D) | &nbsp;&nbsp;&nbsp;9992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4996 |
| Prestige Consumer Healthcare, Inc. (A) | &nbsp;&nbsp;&nbsp;7265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;580110 |
| Rapport Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;2788 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31700 |
| Recordati Industria Chimica e Farmaceutica SpA | &nbsp;&nbsp;13345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;838800 |
| Roche Holding AG | &nbsp;&nbsp;81517 | &nbsp;&nbsp;&nbsp;26608751 |
| Roche Holding AG, Bearer Shares | &nbsp;&nbsp;&nbsp;3714 | &nbsp;&nbsp;&nbsp;&nbsp;1290730 |
| Sandoz Group AG | &nbsp;&nbsp;48500 | &nbsp;&nbsp;&nbsp;&nbsp;2657964 |
| Sanofi SA | 128817 | &nbsp;&nbsp;&nbsp;12471258 |
| Septerna, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;3277 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34638 |
| Shionogi & Company, Ltd. | &nbsp;&nbsp;87740 | &nbsp;&nbsp;&nbsp;&nbsp;1579520 |
| SIGA Technologies, Inc. | &nbsp;&nbsp;&nbsp;6268 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40867 |
| Supernus Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;7994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251971 |
| Takeda Pharmaceutical Company, Ltd. | 184599 | &nbsp;&nbsp;&nbsp;&nbsp;5699122 |
| Tarsus Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;5761 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233378 |
| Terns Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;11135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41534 |
| Teva Pharmaceutical Industries, Ltd., ADR (A) | 133080 | &nbsp;&nbsp;&nbsp;&nbsp;2230421 |
| Theravance Biopharma, Inc. (A) | &nbsp;&nbsp;&nbsp;6430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70923 |
| Third Harmonic Bio, Inc. (A) | &nbsp;&nbsp;&nbsp;4081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22160 |
| Trevi Therapeutics, Inc. (A) | &nbsp;&nbsp;11645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63698 |
| UCB SA | &nbsp;&nbsp;14669 | &nbsp;&nbsp;&nbsp;&nbsp;2886240 |
| Viatris, Inc. | &nbsp;&nbsp;82869 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;740020 |
| WaVe Life Sciences, Ltd. (A) | &nbsp;&nbsp;16888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109772 |
| Xeris Biopharma Holdings, Inc. (A) | &nbsp;&nbsp;22627 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105668 |
| Zevra Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;8394 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73951 |
| Zoetis, Inc. | &nbsp;&nbsp;31434 | &nbsp;&nbsp;&nbsp;&nbsp;4902132 |
|  |  | 285748794 |
|  |  | 691062449 |
| **Industrials – 13.0%** |  |  |
| **Aerospace and defense – 2.5%** | **Aerospace and defense – 2.5%** |  |
| AAR Corp. (A) | &nbsp;&nbsp;&nbsp;5265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;362179 |
| AeroVironment, Inc. (A) | &nbsp;&nbsp;&nbsp;4172 | &nbsp;&nbsp;&nbsp;&nbsp;1188811 |
| AerSale Corp. (A) | &nbsp;&nbsp;&nbsp;5181 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31138 |
| Airbus SE | &nbsp;&nbsp;68946 | &nbsp;&nbsp;&nbsp;14423550 |
| Archer Aviation, Inc., Class A (A) | &nbsp;&nbsp;80530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;873751 |
| Astronics Corp. (A) | &nbsp;&nbsp;&nbsp;4522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151397 |
| ATI, Inc. (A) | &nbsp;&nbsp;23032 | &nbsp;&nbsp;&nbsp;&nbsp;1988583 |
| Axon Enterprise, Inc. (A) | &nbsp;&nbsp;&nbsp;5222 | &nbsp;&nbsp;&nbsp;&nbsp;4323503 |
| BAE Systems PLC | 349525 | &nbsp;&nbsp;&nbsp;&nbsp;9071173 |
| BWX Technologies, Inc. | &nbsp;&nbsp;14916 | &nbsp;&nbsp;&nbsp;&nbsp;2148799 |
| Byrna Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;2703 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83469 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 132 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Aerospace and defense (continued)** | **Aerospace and defense (continued)** |  |
| Cadre Holdings, Inc. | &nbsp;&nbsp;&nbsp;4269 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135968 |
| Curtiss-Wright Corp. | &nbsp;&nbsp;&nbsp;6153 | &nbsp;&nbsp;&nbsp;&nbsp;3006048 |
| Dassault Aviation SA | &nbsp;&nbsp;&nbsp;2274 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;804023 |
| Ducommun, Inc. (A) | &nbsp;&nbsp;&nbsp;2055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169805 |
| Elbit Systems, Ltd. | &nbsp;&nbsp;&nbsp;3112 | &nbsp;&nbsp;&nbsp;&nbsp;1386189 |
| Eve Holding, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;8096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55539 |
| General Dynamics Corp. | &nbsp;&nbsp;17787 | &nbsp;&nbsp;&nbsp;&nbsp;5187756 |
| General Electric Company | &nbsp;&nbsp;75294 | &nbsp;&nbsp;&nbsp;19379923 |
| Hexcel Corp. | &nbsp;&nbsp;13128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;741601 |
| Howmet Aerospace, Inc. | &nbsp;&nbsp;28502 | &nbsp;&nbsp;&nbsp;&nbsp;5305077 |
| Huntington Ingalls Industries, Inc. | &nbsp;&nbsp;&nbsp;2770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;668844 |
| Intuitive Machines, Inc. (A) | &nbsp;&nbsp;16206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176159 |
| Kongsberg Gruppen ASA | &nbsp;&nbsp;51030 | &nbsp;&nbsp;&nbsp;&nbsp;1979041 |
| Kratos Defense & Security Solutions, Inc. (A) | &nbsp;&nbsp;22427 | &nbsp;&nbsp;&nbsp;&nbsp;1041734 |
| L3Harris Technologies, Inc. | &nbsp;&nbsp;13200 | &nbsp;&nbsp;&nbsp;&nbsp;3311088 |
| Leonardo SpA | &nbsp;&nbsp;46958 | &nbsp;&nbsp;&nbsp;&nbsp;2649694 |
| Lockheed Martin Corp. | &nbsp;&nbsp;14723 | &nbsp;&nbsp;&nbsp;&nbsp;6818810 |
| Melrose Industries PLC | 147970 | &nbsp;&nbsp;&nbsp;&nbsp;1077692 |
| Mercury Systems, Inc. (A) | &nbsp;&nbsp;&nbsp;7704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;414937 |
| Moog, Inc., Class A | &nbsp;&nbsp;&nbsp;4130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;747406 |
| MTU Aero Engines AG | &nbsp;&nbsp;&nbsp;6245 | &nbsp;&nbsp;&nbsp;&nbsp;2774364 |
| National Presto Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;812 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79544 |
| Northrop Grumman Corp. | &nbsp;&nbsp;&nbsp;9552 | &nbsp;&nbsp;&nbsp;&nbsp;4775809 |
| Park Aerospace Corp. | &nbsp;&nbsp;&nbsp;3051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45063 |
| Redwire Corp. (A) | &nbsp;&nbsp;&nbsp;5050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82315 |
| Rheinmetall AG | &nbsp;&nbsp;&nbsp;5187 | &nbsp;&nbsp;&nbsp;10984500 |
| Rolls-Royce Holdings PLC | 983674 | &nbsp;&nbsp;&nbsp;13036282 |
| RTX Corp. | &nbsp;&nbsp;94327 | &nbsp;&nbsp;&nbsp;13773629 |
| Saab AB, B Shares | &nbsp;&nbsp;37165 | &nbsp;&nbsp;&nbsp;&nbsp;2078016 |
| Safran SA | &nbsp;&nbsp;41781 | &nbsp;&nbsp;&nbsp;13625800 |
| Satellogic, Inc., Class A (A) | &nbsp;&nbsp;10473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37912 |
| Singapore Technologies Engineering, Ltd. | 181146 | &nbsp;&nbsp;&nbsp;&nbsp;1110730 |
| Textron, Inc. | &nbsp;&nbsp;12748 | &nbsp;&nbsp;&nbsp;&nbsp;1023537 |
| Thales SA | &nbsp;&nbsp;10753 | &nbsp;&nbsp;&nbsp;&nbsp;3175088 |
| The Boeing Company (A) | &nbsp;&nbsp;53238 | &nbsp;&nbsp;&nbsp;11154958 |
| TransDigm Group, Inc. | &nbsp;&nbsp;&nbsp;3966 | &nbsp;&nbsp;&nbsp;&nbsp;6030858 |
| Triumph Group, Inc. (A) | &nbsp;&nbsp;11020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;283765 |
| V2X, Inc. (A) | &nbsp;&nbsp;&nbsp;2581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125308 |
| Woodward, Inc. | &nbsp;&nbsp;&nbsp;9714 | &nbsp;&nbsp;&nbsp;&nbsp;2380804 |
|  |  | 176281969 |
| **Air freight and logistics – 0.3%** | **Air freight and logistics – 0.3%** |  |
| CH Robinson Worldwide, Inc. | &nbsp;&nbsp;&nbsp;8383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;804349 |
| DHL Group | 111387 | &nbsp;&nbsp;&nbsp;&nbsp;5159431 |
| DSV A/S | &nbsp;&nbsp;23714 | &nbsp;&nbsp;&nbsp;&nbsp;5687903 |
| Expeditors International of Washington, Inc. | &nbsp;&nbsp;&nbsp;9669 | &nbsp;&nbsp;&nbsp;&nbsp;1104683 |
| FedEx Corp. | &nbsp;&nbsp;15564 | &nbsp;&nbsp;&nbsp;&nbsp;3537853 |
| Forward Air Corp. (A) | &nbsp;&nbsp;&nbsp;3373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82773 |
| GXO Logistics, Inc. (A) | &nbsp;&nbsp;18681 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;909765 |
| Hub Group, Inc., Class A | &nbsp;&nbsp;&nbsp;8627 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;288401 |
| InPost SA (A) | &nbsp;&nbsp;26106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;434448 |
| Radiant Logistics, Inc. (A) | &nbsp;&nbsp;&nbsp;6519 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39636 |
| SG Holdings Company, Ltd. | &nbsp;&nbsp;37151 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;413788 |
| United Parcel Service, Inc., Class B | &nbsp;&nbsp;51806 | &nbsp;&nbsp;&nbsp;&nbsp;5229298 |
|  |  | &nbsp;&nbsp;&nbsp;23692328 |
| **Building products – 0.8%** | **Building products – 0.8%** |  |
| A.O. Smith Corp. | &nbsp;&nbsp;&nbsp;8207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;538133 |
| AAON, Inc. | &nbsp;&nbsp;11026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;813168 |
| Advanced Drainage Systems, Inc. | &nbsp;&nbsp;11527 | &nbsp;&nbsp;&nbsp;&nbsp;1323991 |
| AGC, Inc. (C) | &nbsp;&nbsp;22707 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;666125 |
| Allegion PLC | &nbsp;&nbsp;&nbsp;6075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;875529 |
| American Woodmark Corp. (A) | &nbsp;&nbsp;&nbsp;2159 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115226 |
| Apogee Enterprises, Inc. | &nbsp;&nbsp;&nbsp;3226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130976 |
| Assa Abloy AB, B Shares | 116295 | &nbsp;&nbsp;&nbsp;&nbsp;3635805 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Building products (continued)** | **Building products (continued)** |  |
| AZZ, Inc. | &nbsp;&nbsp;&nbsp;4379 | $&nbsp;&nbsp;&nbsp;&nbsp;413728 |
| Builders FirstSource, Inc. (A) | &nbsp;&nbsp;&nbsp;7803 | &nbsp;&nbsp;&nbsp;&nbsp;910532 |
| Carlisle Companies, Inc. | &nbsp;&nbsp;&nbsp;7046 | &nbsp;&nbsp;&nbsp;2630976 |
| Carrier Global Corp. | &nbsp;&nbsp;56294 | &nbsp;&nbsp;&nbsp;4120158 |
| Cie de Saint-Gobain SA | &nbsp;&nbsp;52114 | &nbsp;&nbsp;&nbsp;6122104 |
| CSW Industrials, Inc. | &nbsp;&nbsp;&nbsp;2396 | &nbsp;&nbsp;&nbsp;&nbsp;687245 |
| Daikin Industries, Ltd. | &nbsp;&nbsp;30609 | &nbsp;&nbsp;&nbsp;3592996 |
| Fortune Brands Innovations, Inc. | &nbsp;&nbsp;19635 | &nbsp;&nbsp;&nbsp;1010810 |
| Geberit AG | &nbsp;&nbsp;&nbsp;3879 | &nbsp;&nbsp;&nbsp;3054886 |
| Gibraltar Industries, Inc. (A) | &nbsp;&nbsp;&nbsp;4436 | &nbsp;&nbsp;&nbsp;&nbsp;261724 |
| Griffon Corp. | &nbsp;&nbsp;&nbsp;5719 | &nbsp;&nbsp;&nbsp;&nbsp;413884 |
| Insteel Industries, Inc. | &nbsp;&nbsp;&nbsp;2782 | &nbsp;&nbsp;&nbsp;&nbsp;103518 |
| Janus International Group, Inc. (A) | &nbsp;&nbsp;20408 | &nbsp;&nbsp;&nbsp;&nbsp;166121 |
| JELD-WEN Holding, Inc. (A) | &nbsp;&nbsp;13778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54010 |
| Johnson Controls International PLC | &nbsp;&nbsp;46462 | &nbsp;&nbsp;&nbsp;4907316 |
| Kingspan Group PLC | &nbsp;&nbsp;17951 | &nbsp;&nbsp;&nbsp;1529593 |
| Lennox International, Inc. | &nbsp;&nbsp;&nbsp;2255 | &nbsp;&nbsp;&nbsp;1292656 |
| Masco Corp. | &nbsp;&nbsp;14893 | &nbsp;&nbsp;&nbsp;&nbsp;958513 |
| Masterbrand, Inc. (A) | &nbsp;&nbsp;18968 | &nbsp;&nbsp;&nbsp;&nbsp;207320 |
| Nibe Industrier AB, B Shares | 175839 | &nbsp;&nbsp;&nbsp;&nbsp;750773 |
| Owens Corning | &nbsp;&nbsp;13886 | &nbsp;&nbsp;&nbsp;1909603 |
| Quanex Building Products Corp. | &nbsp;&nbsp;&nbsp;7032 | &nbsp;&nbsp;&nbsp;&nbsp;132905 |
| Resideo Technologies, Inc. (A) | &nbsp;&nbsp;21901 | &nbsp;&nbsp;&nbsp;&nbsp;483136 |
| ROCKWOOL A/S, B Shares | &nbsp;&nbsp;10956 | &nbsp;&nbsp;&nbsp;&nbsp;513533 |
| Simpson Manufacturing Company, Inc. | &nbsp;&nbsp;&nbsp;6829 | &nbsp;&nbsp;&nbsp;1060612 |
| Tecnoglass, Inc. | &nbsp;&nbsp;&nbsp;3602 | &nbsp;&nbsp;&nbsp;&nbsp;278651 |
| Trane Technologies PLC | &nbsp;&nbsp;15747 | &nbsp;&nbsp;&nbsp;6887895 |
| Trex Company, Inc. (A) | &nbsp;&nbsp;17507 | &nbsp;&nbsp;&nbsp;&nbsp;952031 |
| UFP Industries, Inc. | &nbsp;&nbsp;18721 | &nbsp;&nbsp;&nbsp;1860119 |
| Zurn Elkay Water Solutions Corp. | &nbsp;&nbsp;22101 | &nbsp;&nbsp;&nbsp;&nbsp;808234 |
|  |  | 56174535 |
| **Commercial services and supplies – 0.6%** | **Commercial services and supplies – 0.6%** |  |
| ABM Industries, Inc. | &nbsp;&nbsp;&nbsp;9099 | &nbsp;&nbsp;&nbsp;&nbsp;429564 |
| ACCO Brands Corp. | &nbsp;&nbsp;14539 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52050 |
| ACV Auctions, Inc., Class A (A) | &nbsp;&nbsp;24864 | &nbsp;&nbsp;&nbsp;&nbsp;403294 |
| Brambles, Ltd. | 159278 | &nbsp;&nbsp;&nbsp;2459857 |
| BrightView Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;9131 | &nbsp;&nbsp;&nbsp;&nbsp;152031 |
| Casella Waste Systems, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;9267 | &nbsp;&nbsp;&nbsp;1069226 |
| CECO Environmental Corp. (A) | &nbsp;&nbsp;&nbsp;4388 | &nbsp;&nbsp;&nbsp;&nbsp;124224 |
| Cimpress PLC (A) | &nbsp;&nbsp;&nbsp;2279 | &nbsp;&nbsp;&nbsp;&nbsp;107113 |
| Cintas Corp. | &nbsp;&nbsp;24233 | &nbsp;&nbsp;&nbsp;5400809 |
| Clean Harbors, Inc. (A) | &nbsp;&nbsp;&nbsp;8223 | &nbsp;&nbsp;&nbsp;1900993 |
| Copart, Inc. (A) | &nbsp;&nbsp;62073 | &nbsp;&nbsp;&nbsp;3045922 |
| CoreCivic, Inc. (A) | &nbsp;&nbsp;15959 | &nbsp;&nbsp;&nbsp;&nbsp;336256 |
| Dai Nippon Printing Company, Ltd. | &nbsp;&nbsp;45642 | &nbsp;&nbsp;&nbsp;&nbsp;692838 |
| Deluxe Corp. | &nbsp;&nbsp;&nbsp;6517 | &nbsp;&nbsp;&nbsp;&nbsp;103685 |
| Driven Brands Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;9025 | &nbsp;&nbsp;&nbsp;&nbsp;158479 |
| Ennis, Inc. | &nbsp;&nbsp;&nbsp;3785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68660 |
| Enviri Corp. (A) | &nbsp;&nbsp;11471 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99568 |
| Healthcare Services Group, Inc. (A) | &nbsp;&nbsp;10925 | &nbsp;&nbsp;&nbsp;&nbsp;164203 |
| HNI Corp. | &nbsp;&nbsp;&nbsp;6781 | &nbsp;&nbsp;&nbsp;&nbsp;333490 |
| Interface, Inc. | &nbsp;&nbsp;&nbsp;8781 | &nbsp;&nbsp;&nbsp;&nbsp;183786 |
| Liquidity Services, Inc. (A) | &nbsp;&nbsp;&nbsp;3553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83815 |
| MillerKnoll, Inc. | &nbsp;&nbsp;10084 | &nbsp;&nbsp;&nbsp;&nbsp;195831 |
| Montrose Environmental Group, Inc. (A) | &nbsp;&nbsp;&nbsp;4880 | &nbsp;&nbsp;&nbsp;&nbsp;106823 |
| MSA Safety, Inc. | &nbsp;&nbsp;&nbsp;6417 | &nbsp;&nbsp;&nbsp;1075040 |
| OPENLANE, Inc. (A) | &nbsp;&nbsp;15751 | &nbsp;&nbsp;&nbsp;&nbsp;385112 |
| Perma-Fix Environmental Services, Inc. (A) | &nbsp;&nbsp;&nbsp;2944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30971 |
| Pitney Bowes, Inc. | &nbsp;&nbsp;27126 | &nbsp;&nbsp;&nbsp;&nbsp;295945 |
| Quad/Graphics, Inc. | &nbsp;&nbsp;&nbsp;4866 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27493 |
| RB Global, Inc. | &nbsp;&nbsp;30236 | &nbsp;&nbsp;&nbsp;3210761 |
| Rentokil Initial PLC | 292918 | &nbsp;&nbsp;&nbsp;1413261 |
| Republic Services, Inc. | &nbsp;&nbsp;14342 | &nbsp;&nbsp;&nbsp;3536881 |
| Rollins, Inc. | &nbsp;&nbsp;19847 | &nbsp;&nbsp;&nbsp;1119768 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 133 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Commercial services and supplies (continued)** | **Commercial services and supplies (continued)** |  |
| Secom Company, Ltd. | &nbsp;&nbsp;48725 | $&nbsp;&nbsp;&nbsp;1750441 |
| Securitas AB, B Shares | &nbsp;&nbsp;57063 | &nbsp;&nbsp;&nbsp;&nbsp;854366 |
| Steelcase, Inc., Class A | &nbsp;&nbsp;12493 | &nbsp;&nbsp;&nbsp;&nbsp;130302 |
| Tetra Tech, Inc. | &nbsp;&nbsp;43021 | &nbsp;&nbsp;&nbsp;1547035 |
| The Brink's Company | &nbsp;&nbsp;13217 | &nbsp;&nbsp;&nbsp;1180146 |
| The GEO Group, Inc. (A) | &nbsp;&nbsp;20205 | &nbsp;&nbsp;&nbsp;&nbsp;483910 |
| TOPPAN Holdings, Inc. | &nbsp;&nbsp;27735 | &nbsp;&nbsp;&nbsp;&nbsp;753477 |
| UniFirst Corp. | &nbsp;&nbsp;&nbsp;2239 | &nbsp;&nbsp;&nbsp;&nbsp;421425 |
| Veralto Corp. | &nbsp;&nbsp;17501 | &nbsp;&nbsp;&nbsp;1766726 |
| Vestis Corp. | &nbsp;&nbsp;17456 | &nbsp;&nbsp;&nbsp;&nbsp;100023 |
| VSE Corp. | &nbsp;&nbsp;&nbsp;3001 | &nbsp;&nbsp;&nbsp;&nbsp;393071 |
| Waste Management, Inc. | &nbsp;&nbsp;25855 | &nbsp;&nbsp;&nbsp;5916141 |
|  |  | 44064812 |
| **Construction and engineering – 0.7%** | **Construction and engineering – 0.7%** |  |
| ACS Actividades de Construccion y Servicios SA | &nbsp;&nbsp;20489 | &nbsp;&nbsp;&nbsp;1424142 |
| AECOM | &nbsp;&nbsp;21600 | &nbsp;&nbsp;&nbsp;2437776 |
| Ameresco, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;4955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75266 |
| API Group Corp. (A) | &nbsp;&nbsp;41381 | &nbsp;&nbsp;&nbsp;2112500 |
| Arcosa, Inc. | &nbsp;&nbsp;&nbsp;7171 | &nbsp;&nbsp;&nbsp;&nbsp;621797 |
| Argan, Inc. | &nbsp;&nbsp;&nbsp;1972 | &nbsp;&nbsp;&nbsp;&nbsp;434787 |
| Bouygues SA | &nbsp;&nbsp;21985 | &nbsp;&nbsp;&nbsp;&nbsp;994265 |
| Bowman Consulting Group, Ltd. (A) | &nbsp;&nbsp;&nbsp;2206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63423 |
| Centuri Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;2706 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60723 |
| Comfort Systems USA, Inc. | &nbsp;&nbsp;&nbsp;5746 | &nbsp;&nbsp;&nbsp;3081063 |
| Construction Partners, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;6943 | &nbsp;&nbsp;&nbsp;&nbsp;737902 |
| Dycom Industries, Inc. (A) | &nbsp;&nbsp;&nbsp;4138 | &nbsp;&nbsp;&nbsp;1011286 |
| Eiffage SA | &nbsp;&nbsp;&nbsp;7959 | &nbsp;&nbsp;&nbsp;1118346 |
| EMCOR Group, Inc. | &nbsp;&nbsp;&nbsp;7307 | &nbsp;&nbsp;&nbsp;3908441 |
| Ferrovial SE | &nbsp;&nbsp;59255 | &nbsp;&nbsp;&nbsp;3160823 |
| Fluor Corp. (A) | &nbsp;&nbsp;51562 | &nbsp;&nbsp;&nbsp;2643584 |
| Granite Construction, Inc. | &nbsp;&nbsp;&nbsp;6417 | &nbsp;&nbsp;&nbsp;&nbsp;600054 |
| Great Lakes Dredge & Dock Corp. (A) | &nbsp;&nbsp;10055 | &nbsp;&nbsp;&nbsp;&nbsp;122570 |
| IES Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;1341 | &nbsp;&nbsp;&nbsp;&nbsp;397244 |
| Kajima Corp. | &nbsp;&nbsp;49072 | &nbsp;&nbsp;&nbsp;1279881 |
| Limbach Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;1585 | &nbsp;&nbsp;&nbsp;&nbsp;222059 |
| MasTec, Inc. (A) | &nbsp;&nbsp;10009 | &nbsp;&nbsp;&nbsp;1705834 |
| Matrix Service Company (A) | &nbsp;&nbsp;&nbsp;4187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56566 |
| MYR Group, Inc. (A) | &nbsp;&nbsp;&nbsp;2275 | &nbsp;&nbsp;&nbsp;&nbsp;412799 |
| NWPX Infrastructure, Inc. (A) | &nbsp;&nbsp;&nbsp;1511 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61966 |
| Obayashi Corp. | &nbsp;&nbsp;75345 | &nbsp;&nbsp;&nbsp;1141614 |
| Orion Group Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;5766 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52298 |
| Primoris Services Corp. | &nbsp;&nbsp;&nbsp;7988 | &nbsp;&nbsp;&nbsp;&nbsp;622585 |
| Quanta Services, Inc. | &nbsp;&nbsp;10464 | &nbsp;&nbsp;&nbsp;3956229 |
| Skanska AB, B Shares | &nbsp;&nbsp;39485 | &nbsp;&nbsp;&nbsp;&nbsp;919787 |
| Sterling Infrastructure, Inc. (A) | &nbsp;&nbsp;&nbsp;4408 | &nbsp;&nbsp;&nbsp;1017058 |
| Taisei Corp. | &nbsp;&nbsp;18065 | &nbsp;&nbsp;&nbsp;1052115 |
| Tutor Perini Corp. (A) | &nbsp;&nbsp;&nbsp;6599 | &nbsp;&nbsp;&nbsp;&nbsp;308701 |
| Valmont Industries, Inc. | &nbsp;&nbsp;&nbsp;3277 | &nbsp;&nbsp;&nbsp;1070170 |
| Vinci SA | &nbsp;&nbsp;57440 | &nbsp;&nbsp;&nbsp;8470699 |
|  |  | 47356353 |
| **Electrical equipment – 1.5%** | **Electrical equipment – 1.5%** |  |
| ABB, Ltd. | 183503 | 10997119 |
| Acuity, Inc. | &nbsp;&nbsp;&nbsp;4997 | &nbsp;&nbsp;&nbsp;1490805 |
| Allient, Inc. | &nbsp;&nbsp;&nbsp;2186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79374 |
| American Superconductor Corp. (A) | &nbsp;&nbsp;&nbsp;5671 | &nbsp;&nbsp;&nbsp;&nbsp;208069 |
| AMETEK, Inc. | &nbsp;&nbsp;16301 | &nbsp;&nbsp;&nbsp;2949829 |
| Amprius Technologies, Inc. (A) | &nbsp;&nbsp;14055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59172 |
| Array Technologies, Inc. (A) | &nbsp;&nbsp;22942 | &nbsp;&nbsp;&nbsp;&nbsp;135358 |
| Atkore, Inc. | &nbsp;&nbsp;&nbsp;5054 | &nbsp;&nbsp;&nbsp;&nbsp;356560 |
| Bloom Energy Corp., Class A (A) | &nbsp;&nbsp;30285 | &nbsp;&nbsp;&nbsp;&nbsp;724417 |
| Eaton Corp. PLC | &nbsp;&nbsp;27628 | &nbsp;&nbsp;&nbsp;9862920 |
| Emerson Electric Company | &nbsp;&nbsp;39716 | &nbsp;&nbsp;&nbsp;5295334 |
| EnerSys | &nbsp;&nbsp;12213 | &nbsp;&nbsp;&nbsp;1047509 |
| Enovix Corp. (A)(C) | &nbsp;&nbsp;24525 | &nbsp;&nbsp;&nbsp;&nbsp;253589 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Electrical equipment (continued)** | **Electrical equipment (continued)** |  |
| Eos Energy Enterprises, Inc. (A) | &nbsp;&nbsp;33145 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169702 |
| Fluence Energy, Inc. (A)(C) | &nbsp;&nbsp;11566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77608 |
| Fuji Electric Company, Ltd. | &nbsp;&nbsp;15590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;717949 |
| Fujikura, Ltd. | &nbsp;&nbsp;29179 | &nbsp;&nbsp;&nbsp;&nbsp;1534974 |
| GE Vernova, Inc. | &nbsp;&nbsp;19271 | &nbsp;&nbsp;&nbsp;10197250 |
| Generac Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;4172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;597472 |
| Hubbell, Inc. | &nbsp;&nbsp;&nbsp;3769 | &nbsp;&nbsp;&nbsp;&nbsp;1539297 |
| Hyliion Holdings Corp. (A) | &nbsp;&nbsp;21217 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28006 |
| KULR Technology Group, Inc. (A) | &nbsp;&nbsp;&nbsp;4971 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35443 |
| Legrand SA | &nbsp;&nbsp;30428 | &nbsp;&nbsp;&nbsp;&nbsp;4078221 |
| LSI Industries, Inc. | &nbsp;&nbsp;&nbsp;4257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72412 |
| Mitsubishi Electric Corp. | 220673 | &nbsp;&nbsp;&nbsp;&nbsp;4746448 |
| NANO Nuclear Energy, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;3959 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136546 |
| NEXTracker, Inc., Class A (A) | &nbsp;&nbsp;44420 | &nbsp;&nbsp;&nbsp;&nbsp;2415115 |
| Nidec Corp. | &nbsp;&nbsp;96861 | &nbsp;&nbsp;&nbsp;&nbsp;1882308 |
| NuScale Power Corp. (A)(C) | &nbsp;&nbsp;18726 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;740801 |
| nVent Electric PLC | &nbsp;&nbsp;26879 | &nbsp;&nbsp;&nbsp;&nbsp;1968887 |
| Plug Power, Inc. (A)(C) | 136040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202700 |
| Powell Industries, Inc. | &nbsp;&nbsp;&nbsp;1412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;297155 |
| Power Solutions International, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63645 |
| Preformed Line Products Company | &nbsp;&nbsp;&nbsp;&nbsp;376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60089 |
| Prysmian SpA | &nbsp;&nbsp;32604 | &nbsp;&nbsp;&nbsp;&nbsp;2308337 |
| Regal Rexnord Corp. | &nbsp;&nbsp;10830 | &nbsp;&nbsp;&nbsp;&nbsp;1569917 |
| Rockwell Automation, Inc. | &nbsp;&nbsp;&nbsp;7958 | &nbsp;&nbsp;&nbsp;&nbsp;2643409 |
| Schneider Electric SE | &nbsp;&nbsp;63450 | &nbsp;&nbsp;&nbsp;17035369 |
| Sensata Technologies Holding PLC | &nbsp;&nbsp;23884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;719147 |
| Shoals Technologies Group, Inc., Class A (A) | &nbsp;&nbsp;25181 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107019 |
| Siemens Energy AG (A) | &nbsp;&nbsp;78831 | &nbsp;&nbsp;&nbsp;&nbsp;9213842 |
| Sunrun, Inc. (A) | &nbsp;&nbsp;30863 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252459 |
| T1 Energy, Inc. (A)(C) | &nbsp;&nbsp;17547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21583 |
| Thermon Group Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;5011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140709 |
| Vestas Wind Systems A/S | 117174 | &nbsp;&nbsp;&nbsp;&nbsp;1760065 |
| Vicor Corp. (A) | &nbsp;&nbsp;&nbsp;3503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158896 |
|  |  | 100952835 |
| **Ground transportation – 0.8%** | **Ground transportation – 0.8%** |  |
| ArcBest Corp. | &nbsp;&nbsp;&nbsp;3385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260679 |
| Avis Budget Group, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;2758 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;466240 |
| Central Japan Railway Company | &nbsp;&nbsp;89632 | &nbsp;&nbsp;&nbsp;&nbsp;2003686 |
| Covenant Logistics Group, Inc. | &nbsp;&nbsp;&nbsp;2490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60034 |
| CSX Corp. | 132637 | &nbsp;&nbsp;&nbsp;&nbsp;4327945 |
| East Japan Railway Company | 105299 | &nbsp;&nbsp;&nbsp;&nbsp;2265079 |
| FTAI Infrastructure, Inc. | &nbsp;&nbsp;14841 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91569 |
| Grab Holdings, Ltd., Class A (A) | 275312 | &nbsp;&nbsp;&nbsp;&nbsp;1384819 |
| Hankyu Hanshin Holdings, Inc. | &nbsp;&nbsp;26421 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;718219 |
| Heartland Express, Inc. | &nbsp;&nbsp;&nbsp;8179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70667 |
| Hertz Global Holdings, Inc. (A)(C) | &nbsp;&nbsp;17620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120345 |
| JB Hunt Transport Services, Inc. | &nbsp;&nbsp;&nbsp;5533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;794539 |
| Knight-Swift Transportation Holdings, Inc. | &nbsp;&nbsp;26457 | &nbsp;&nbsp;&nbsp;&nbsp;1170193 |
| Landstar System, Inc. | &nbsp;&nbsp;&nbsp;5705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;793109 |
| Marten Transport, Ltd. | &nbsp;&nbsp;&nbsp;9255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120222 |
| MTR Corp., Ltd. | 180566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;649296 |
| Norfolk Southern Corp. | &nbsp;&nbsp;15918 | &nbsp;&nbsp;&nbsp;&nbsp;4074530 |
| Old Dominion Freight Line, Inc. | &nbsp;&nbsp;13130 | &nbsp;&nbsp;&nbsp;&nbsp;2130999 |
| Proficient Auto Logistics, Inc. (A) | &nbsp;&nbsp;&nbsp;3784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27472 |
| RXO, Inc. (A) | &nbsp;&nbsp;24077 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;378490 |
| Ryder System, Inc. | &nbsp;&nbsp;&nbsp;6750 | &nbsp;&nbsp;&nbsp;&nbsp;1073250 |
| Saia, Inc. (A) | &nbsp;&nbsp;&nbsp;4348 | &nbsp;&nbsp;&nbsp;&nbsp;1191309 |
| Tokyo Metro Company, Ltd. | &nbsp;&nbsp;33706 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;392226 |
| Tokyu Corp. | &nbsp;&nbsp;58002 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;689999 |
| Uber Technologies, Inc. (A) | 147650 | &nbsp;&nbsp;&nbsp;13775745 |
| Union Pacific Corp. | &nbsp;&nbsp;42186 | &nbsp;&nbsp;&nbsp;&nbsp;9706155 |
| Universal Logistics Holdings, Inc. | &nbsp;&nbsp;&nbsp;1044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26497 |
| Werner Enterprises, Inc. | &nbsp;&nbsp;&nbsp;8810 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;241042 |
| West Japan Railway Company | &nbsp;&nbsp;51918 | &nbsp;&nbsp;&nbsp;&nbsp;1186901 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 134 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Ground transportation (continued)** | **Ground transportation (continued)** |  |
| XPO, Inc. (A) | &nbsp;&nbsp;19234 | $&nbsp;&nbsp;&nbsp;2429062 |
|  |  | 52620318 |
| **Industrial conglomerates – 0.9%** | **Industrial conglomerates – 0.9%** |  |
| 3M Company | &nbsp;&nbsp;37999 | &nbsp;&nbsp;&nbsp;5784968 |
| Brookfield Business Corp., Class A | &nbsp;&nbsp;&nbsp;3724 | &nbsp;&nbsp;&nbsp;&nbsp;116189 |
| CK Hutchison Holdings, Ltd. | 311079 | &nbsp;&nbsp;&nbsp;1915525 |
| DCC PLC | &nbsp;&nbsp;11482 | &nbsp;&nbsp;&nbsp;&nbsp;745188 |
| Hikari Tsushin, Inc. | &nbsp;&nbsp;&nbsp;2055 | &nbsp;&nbsp;&nbsp;&nbsp;606772 |
| Hitachi, Ltd. | 531452 | 15446297 |
| Honeywell International, Inc. | &nbsp;&nbsp;45378 | 10567629 |
| Investment AB Latour, B Shares | &nbsp;&nbsp;17179 | &nbsp;&nbsp;&nbsp;&nbsp;453100 |
| Jardine Matheson Holdings, Ltd. | &nbsp;&nbsp;18610 | &nbsp;&nbsp;&nbsp;&nbsp;894447 |
| Keppel, Ltd. | 168995 | &nbsp;&nbsp;&nbsp;&nbsp;986858 |
| Lifco AB, B Shares | &nbsp;&nbsp;27047 | &nbsp;&nbsp;&nbsp;1096129 |
| Sekisui Chemical Company, Ltd. | &nbsp;&nbsp;43839 | &nbsp;&nbsp;&nbsp;&nbsp;793954 |
| Siemens AG | &nbsp;&nbsp;88182 | 22650282 |
| Smiths Group PLC | &nbsp;&nbsp;38944 | &nbsp;&nbsp;&nbsp;1201201 |
| Swire Pacific, Ltd., Class A | &nbsp;&nbsp;41225 | &nbsp;&nbsp;&nbsp;&nbsp;353385 |
|  |  | 63611924 |
| **Machinery – 2.3%** | **Machinery – 2.3%** |  |
| 3D Systems Corp. (A)(C) | &nbsp;&nbsp;21625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33303 |
| AGCO Corp. | &nbsp;&nbsp;10107 | &nbsp;&nbsp;&nbsp;1042638 |
| Alamo Group, Inc. | &nbsp;&nbsp;&nbsp;1505 | &nbsp;&nbsp;&nbsp;&nbsp;328662 |
| Albany International Corp., Class A | &nbsp;&nbsp;&nbsp;4412 | &nbsp;&nbsp;&nbsp;&nbsp;309414 |
| Alfa Laval AB | &nbsp;&nbsp;33571 | &nbsp;&nbsp;&nbsp;1413963 |
| Alstom SA (A) | &nbsp;&nbsp;40161 | &nbsp;&nbsp;&nbsp;&nbsp;937395 |
| Astec Industries, Inc. | &nbsp;&nbsp;&nbsp;3425 | &nbsp;&nbsp;&nbsp;&nbsp;142788 |
| Atlas Copco AB, A Shares | 311660 | &nbsp;&nbsp;&nbsp;5038296 |
| Atlas Copco AB, B Shares | 181106 | &nbsp;&nbsp;&nbsp;2577606 |
| Atmus Filtration Technologies, Inc. | &nbsp;&nbsp;12218 | &nbsp;&nbsp;&nbsp;&nbsp;444980 |
| Blue Bird Corp. (A) | &nbsp;&nbsp;&nbsp;4762 | &nbsp;&nbsp;&nbsp;&nbsp;205528 |
| Caterpillar, Inc. | &nbsp;&nbsp;33207 | 12891289 |
| Chart Industries, Inc. (A) | &nbsp;&nbsp;14003 | &nbsp;&nbsp;&nbsp;2305594 |
| CNH Industrial NV | 142793 | &nbsp;&nbsp;&nbsp;1850597 |
| Columbus McKinnon Corp. | &nbsp;&nbsp;&nbsp;4377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66837 |
| Crane Company | &nbsp;&nbsp;&nbsp;7979 | &nbsp;&nbsp;&nbsp;1515132 |
| Cummins, Inc. | &nbsp;&nbsp;&nbsp;9726 | &nbsp;&nbsp;&nbsp;3185265 |
| Daifuku Company, Ltd. | &nbsp;&nbsp;37460 | &nbsp;&nbsp;&nbsp;&nbsp;963693 |
| Daimler Truck Holding AG | &nbsp;&nbsp;55128 | &nbsp;&nbsp;&nbsp;2615490 |
| Deere & Company | &nbsp;&nbsp;17822 | &nbsp;&nbsp;&nbsp;9062309 |
| Donaldson Company, Inc. | &nbsp;&nbsp;19513 | &nbsp;&nbsp;&nbsp;1353227 |
| Douglas Dynamics, Inc. | &nbsp;&nbsp;&nbsp;3388 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99844 |
| Dover Corp. | &nbsp;&nbsp;&nbsp;9680 | &nbsp;&nbsp;&nbsp;1773666 |
| Energy Recovery, Inc. (A) | &nbsp;&nbsp;&nbsp;8031 | &nbsp;&nbsp;&nbsp;&nbsp;102636 |
| Enerpac Tool Group Corp. | &nbsp;&nbsp;&nbsp;8041 | &nbsp;&nbsp;&nbsp;&nbsp;326143 |
| Enpro, Inc. | &nbsp;&nbsp;&nbsp;3115 | &nbsp;&nbsp;&nbsp;&nbsp;596678 |
| Epiroc AB, A Shares | &nbsp;&nbsp;76463 | &nbsp;&nbsp;&nbsp;1663823 |
| Epiroc AB, B Shares | &nbsp;&nbsp;45248 | &nbsp;&nbsp;&nbsp;&nbsp;867519 |
| Esab Corp. | &nbsp;&nbsp;&nbsp;9304 | &nbsp;&nbsp;&nbsp;1121597 |
| ESCO Technologies, Inc. | &nbsp;&nbsp;&nbsp;3824 | &nbsp;&nbsp;&nbsp;&nbsp;733711 |
| FANUC Corp. | 109722 | &nbsp;&nbsp;&nbsp;2978653 |
| Federal Signal Corp. | &nbsp;&nbsp;&nbsp;8835 | &nbsp;&nbsp;&nbsp;&nbsp;940221 |
| Flowserve Corp. | &nbsp;&nbsp;21344 | &nbsp;&nbsp;&nbsp;1117358 |
| Fortive Corp. | &nbsp;&nbsp;23998 | &nbsp;&nbsp;&nbsp;1251016 |
| Franklin Electric Company, Inc. | &nbsp;&nbsp;&nbsp;5850 | &nbsp;&nbsp;&nbsp;&nbsp;524979 |
| GEA Group AG | &nbsp;&nbsp;16996 | &nbsp;&nbsp;&nbsp;1191422 |
| Gencor Industries, Inc. (A) | &nbsp;&nbsp;&nbsp;1670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23380 |
| Graco, Inc. | &nbsp;&nbsp;27287 | &nbsp;&nbsp;&nbsp;2345863 |
| Graham Corp. (A) | &nbsp;&nbsp;&nbsp;1586 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78523 |
| Helios Technologies, Inc. | &nbsp;&nbsp;&nbsp;4967 | &nbsp;&nbsp;&nbsp;&nbsp;165749 |
| Hillenbrand, Inc. | &nbsp;&nbsp;10570 | &nbsp;&nbsp;&nbsp;&nbsp;212140 |
| Hillman Solutions Corp. (A) | &nbsp;&nbsp;29730 | &nbsp;&nbsp;&nbsp;&nbsp;212272 |
| Hoshizaki Corp. | &nbsp;&nbsp;12609 | &nbsp;&nbsp;&nbsp;&nbsp;434482 |
| Hyster-Yale, Inc. | &nbsp;&nbsp;&nbsp;1803 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71723 |
| IDEX Corp. | &nbsp;&nbsp;&nbsp;5334 | &nbsp;&nbsp;&nbsp;&nbsp;936490 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Machinery (continued)** | **Machinery (continued)** |  |
| IHI Corp. | &nbsp;&nbsp;17050 | $1844191 |
| Illinois Tool Works, Inc. | &nbsp;&nbsp;18825 | 4654481 |
| Indutrade AB | &nbsp;&nbsp;31703 | &nbsp;&nbsp;&nbsp;&nbsp;865654 |
| Ingersoll Rand, Inc. | &nbsp;&nbsp;28487 | 2369549 |
| ITT, Inc. | &nbsp;&nbsp;12849 | 2015109 |
| JBT Marel Corp. | &nbsp;&nbsp;&nbsp;7697 | &nbsp;&nbsp;&nbsp;&nbsp;925641 |
| Kadant, Inc. | &nbsp;&nbsp;&nbsp;1730 | &nbsp;&nbsp;&nbsp;&nbsp;549189 |
| Kennametal, Inc. | &nbsp;&nbsp;11162 | &nbsp;&nbsp;&nbsp;&nbsp;256280 |
| Knorr-Bremse AG | &nbsp;&nbsp;&nbsp;8417 | &nbsp;&nbsp;&nbsp;&nbsp;816423 |
| Komatsu, Ltd. | 104821 | 3458416 |
| Kone OYJ, B Shares | &nbsp;&nbsp;39437 | 2598139 |
| Kubota Corp. | 113507 | 1280007 |
| LB Foster Company, Class A (A) | &nbsp;&nbsp;&nbsp;1347 | &nbsp;&nbsp;&nbsp;&nbsp;29459 |
| Lincoln Electric Holdings, Inc. | &nbsp;&nbsp;&nbsp;9114 | 1889514 |
| Lindsay Corp. | &nbsp;&nbsp;&nbsp;1606 | &nbsp;&nbsp;&nbsp;&nbsp;231666 |
| Luxfer Holdings PLC | &nbsp;&nbsp;&nbsp;4191 | &nbsp;&nbsp;&nbsp;&nbsp;51046 |
| Makita Corp. | &nbsp;&nbsp;27617 | &nbsp;&nbsp;&nbsp;&nbsp;850547 |
| Mayville Engineering Company, Inc. (A) | &nbsp;&nbsp;&nbsp;2342 | &nbsp;&nbsp;&nbsp;&nbsp;37378 |
| Metso OYJ | &nbsp;&nbsp;72138 | &nbsp;&nbsp;&nbsp;&nbsp;934896 |
| Microvast Holdings, Inc. (A) | &nbsp;&nbsp;29561 | &nbsp;&nbsp;&nbsp;&nbsp;107306 |
| Miller Industries, Inc. | &nbsp;&nbsp;&nbsp;1647 | &nbsp;&nbsp;&nbsp;&nbsp;73226 |
| MINEBEA MITSUMI, Inc. | &nbsp;&nbsp;42121 | &nbsp;&nbsp;&nbsp;&nbsp;615966 |
| Mitsubishi Heavy Industries, Ltd. | 371869 | 9305790 |
| Mueller Industries, Inc. | &nbsp;&nbsp;18065 | 1435626 |
| Mueller Water Products, Inc., Class A | &nbsp;&nbsp;22992 | &nbsp;&nbsp;&nbsp;&nbsp;552728 |
| Nordson Corp. | &nbsp;&nbsp;&nbsp;3817 | &nbsp;&nbsp;&nbsp;&nbsp;818250 |
| Omega Flex, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;22666 |
| Oshkosh Corp. | &nbsp;&nbsp;10510 | 1193305 |
| Otis Worldwide Corp. | &nbsp;&nbsp;27867 | 2759390 |
| PACCAR, Inc. | &nbsp;&nbsp;37066 | 3523494 |
| Palladyne AI Corp. (A) | &nbsp;&nbsp;&nbsp;3844 | &nbsp;&nbsp;&nbsp;&nbsp;33289 |
| Parker-Hannifin Corp. | &nbsp;&nbsp;&nbsp;9022 | 6301596 |
| Park-Ohio Holdings Corp. | &nbsp;&nbsp;&nbsp;1278 | &nbsp;&nbsp;&nbsp;&nbsp;22825 |
| Pentair PLC | &nbsp;&nbsp;11617 | 1192601 |
| Proto Labs, Inc. (A) | &nbsp;&nbsp;&nbsp;3538 | &nbsp;&nbsp;&nbsp;&nbsp;141662 |
| Rational AG | &nbsp;&nbsp;&nbsp;&nbsp;594 | &nbsp;&nbsp;&nbsp;&nbsp;499137 |
| RBC Bearings, Inc. (A) | &nbsp;&nbsp;&nbsp;5118 | 1969406 |
| REV Group, Inc. | &nbsp;&nbsp;&nbsp;7589 | &nbsp;&nbsp;&nbsp;&nbsp;361161 |
| Richtech Robotics, Inc., Class B (A) | &nbsp;&nbsp;10543 | &nbsp;&nbsp;&nbsp;&nbsp;20559 |
| Sandvik AB | 123713 | 2840740 |
| Schindler Holding AG | &nbsp;&nbsp;&nbsp;2724 | &nbsp;&nbsp;&nbsp;&nbsp;989593 |
| Schindler Holding AG, Participation Certificates | &nbsp;&nbsp;&nbsp;4724 | 1759076 |
| SKF AB, B Shares | &nbsp;&nbsp;39582 | &nbsp;&nbsp;&nbsp;&nbsp;909210 |
| SMC Corp. | &nbsp;&nbsp;&nbsp;6644 | 2380958 |
| Snap-on, Inc. | &nbsp;&nbsp;&nbsp;3692 | 1148877 |
| Spirax Group PLC | &nbsp;&nbsp;&nbsp;8541 | &nbsp;&nbsp;&nbsp;&nbsp;698416 |
| SPX Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;6719 | 1126642 |
| Standex International Corp. | &nbsp;&nbsp;&nbsp;1753 | &nbsp;&nbsp;&nbsp;&nbsp;274309 |
| Stanley Black & Decker, Inc. | &nbsp;&nbsp;10924 | &nbsp;&nbsp;&nbsp;&nbsp;740101 |
| Techtronic Industries Company, Ltd. | 170012 | 1875907 |
| Tennant Company | &nbsp;&nbsp;&nbsp;2745 | &nbsp;&nbsp;&nbsp;&nbsp;212683 |
| Terex Corp. | &nbsp;&nbsp;20254 | &nbsp;&nbsp;&nbsp;&nbsp;945659 |
| The Gorman-Rupp Company | &nbsp;&nbsp;&nbsp;3272 | &nbsp;&nbsp;&nbsp;&nbsp;120148 |
| The Greenbrier Companies, Inc. | &nbsp;&nbsp;&nbsp;4508 | &nbsp;&nbsp;&nbsp;&nbsp;207593 |
| The Manitowoc Company, Inc. (A) | &nbsp;&nbsp;&nbsp;5168 | &nbsp;&nbsp;&nbsp;&nbsp;62119 |
| The Middleby Corp. (A) | &nbsp;&nbsp;&nbsp;8732 | 1257408 |
| The Shyft Group, Inc. | &nbsp;&nbsp;&nbsp;5083 | &nbsp;&nbsp;&nbsp;&nbsp;63741 |
| The Timken Company | &nbsp;&nbsp;10395 | &nbsp;&nbsp;&nbsp;&nbsp;754157 |
| The Toro Company | &nbsp;&nbsp;16297 | 1151872 |
| Titan International, Inc. (A) | &nbsp;&nbsp;&nbsp;7420 | &nbsp;&nbsp;&nbsp;&nbsp;76203 |
| Toyota Industries Corp. | &nbsp;&nbsp;18903 | 2133444 |
| Trelleborg AB, B Shares | &nbsp;&nbsp;23484 | &nbsp;&nbsp;&nbsp;&nbsp;874805 |
| Trinity Industries, Inc. | &nbsp;&nbsp;12012 | &nbsp;&nbsp;&nbsp;&nbsp;324444 |
| VAT Group AG (B) | &nbsp;&nbsp;&nbsp;3133 | 1327552 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 135 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Machinery (continued)** | **Machinery (continued)** |  |
| Volvo AB, B Shares | 184311 | $&nbsp;&nbsp;&nbsp;&nbsp;5186070 |
| Wabash National Corp. | &nbsp;&nbsp;&nbsp;6431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68362 |
| Wabtec Corp. | &nbsp;&nbsp;12083 | &nbsp;&nbsp;&nbsp;&nbsp;2529576 |
| Wartsila OYJ ABP | &nbsp;&nbsp;58358 | &nbsp;&nbsp;&nbsp;&nbsp;1379254 |
| Watts Water Technologies, Inc., Class A | &nbsp;&nbsp;&nbsp;8495 | &nbsp;&nbsp;&nbsp;&nbsp;2088836 |
| Worthington Enterprises, Inc. | &nbsp;&nbsp;&nbsp;4728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300890 |
| Xylem, Inc. | &nbsp;&nbsp;17182 | &nbsp;&nbsp;&nbsp;&nbsp;2222664 |
| Yangzijiang Shipbuilding Holdings, Ltd. | 299722 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;523045 |
|  |  | 163215816 |
| **Marine transportation – 0.1%** | **Marine transportation – 0.1%** |  |
| A.P. Moller - Maersk A/S, Series A | &nbsp;&nbsp;&nbsp;&nbsp;340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;627286 |
| A.P. Moller - Maersk A/S, Series B | &nbsp;&nbsp;&nbsp;&nbsp;493 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;916831 |
| Costamare, Inc. | &nbsp;&nbsp;&nbsp;6679 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60846 |
| Genco Shipping & Trading, Ltd. | &nbsp;&nbsp;&nbsp;5779 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75532 |
| Golden Ocean Group, Ltd. (C) | &nbsp;&nbsp;14983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109676 |
| Himalaya Shipping, Ltd. (A)(C) | &nbsp;&nbsp;&nbsp;4804 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27719 |
| Kawasaki Kisen Kaisha, Ltd. | &nbsp;&nbsp;40790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;577670 |
| Kirby Corp. (A) | &nbsp;&nbsp;&nbsp;9159 | &nbsp;&nbsp;&nbsp;&nbsp;1038722 |
| Kuehne + Nagel International AG | &nbsp;&nbsp;&nbsp;5604 | &nbsp;&nbsp;&nbsp;&nbsp;1213505 |
| Matson, Inc. | &nbsp;&nbsp;&nbsp;4781 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;532364 |
| Mitsui OSK Lines, Ltd. | &nbsp;&nbsp;39995 | &nbsp;&nbsp;&nbsp;&nbsp;1335822 |
| Nippon Yusen KK | &nbsp;&nbsp;50815 | &nbsp;&nbsp;&nbsp;&nbsp;1828066 |
| Pangaea Logistics Solutions, Ltd. | &nbsp;&nbsp;&nbsp;4892 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22992 |
| Safe Bulkers, Inc. | &nbsp;&nbsp;&nbsp;9783 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35317 |
| SITC International Holdings Company, Ltd. | 155898 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;499808 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;8902156 |
| **Passenger airlines – 0.2%** | **Passenger airlines – 0.2%** |  |
| Alaska Air Group, Inc. (A) | &nbsp;&nbsp;19819 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;980644 |
| Allegiant Travel Company (A) | &nbsp;&nbsp;&nbsp;2130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117044 |
| American Airlines Group, Inc. (A) | 107676 | &nbsp;&nbsp;&nbsp;&nbsp;1208125 |
| ANA Holdings, Inc. | &nbsp;&nbsp;18542 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;363053 |
| Blade Air Mobility, Inc. (A) | &nbsp;&nbsp;10081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40626 |
| Delta Air Lines, Inc. | &nbsp;&nbsp;46103 | &nbsp;&nbsp;&nbsp;&nbsp;2267346 |
| Deutsche Lufthansa AG | &nbsp;&nbsp;69519 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;590191 |
| Frontier Group Holdings, Inc. (A) | &nbsp;&nbsp;13115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47607 |
| International Consolidated Airlines Group SA | 144206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;679387 |
| Japan Airlines Company, Ltd. | &nbsp;&nbsp;16737 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;341366 |
| JetBlue Airways Corp. (A) | &nbsp;&nbsp;47864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202465 |
| Joby Aviation, Inc. (A)(C) | &nbsp;&nbsp;68400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;721620 |
| Qantas Airways, Ltd. | &nbsp;&nbsp;86032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;607779 |
| Ryanair Holdings PLC | &nbsp;&nbsp;98648 | &nbsp;&nbsp;&nbsp;&nbsp;2798220 |
| Singapore Airlines, Ltd. | 172747 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;947474 |
| SkyWest, Inc. (A) | &nbsp;&nbsp;&nbsp;5934 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;611024 |
| Southwest Airlines Company | &nbsp;&nbsp;40237 | &nbsp;&nbsp;&nbsp;&nbsp;1305288 |
| Sun Country Airlines Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;7586 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89136 |
| United Airlines Holdings, Inc. (A) | &nbsp;&nbsp;23060 | &nbsp;&nbsp;&nbsp;&nbsp;1836268 |
|  |  | &nbsp;&nbsp;&nbsp;15754663 |
| **Professional services – 1.2%** | **Professional services – 1.2%** |  |
| Acuren Corp. (A) | &nbsp;&nbsp;15895 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175481 |
| Alight, Inc., Class A | &nbsp;&nbsp;62856 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355765 |
| Asure Software, Inc. (A) | &nbsp;&nbsp;&nbsp;3751 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36610 |
| Automatic Data Processing, Inc. | &nbsp;&nbsp;28661 | &nbsp;&nbsp;&nbsp;&nbsp;8839052 |
| Barrett Business Services, Inc. | &nbsp;&nbsp;&nbsp;3676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153252 |
| BlackSky Technology, Inc. (A) | &nbsp;&nbsp;&nbsp;4221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86868 |
| Broadridge Financial Solutions, Inc. | &nbsp;&nbsp;&nbsp;8294 | &nbsp;&nbsp;&nbsp;&nbsp;2015691 |
| Bureau Veritas SA | &nbsp;&nbsp;36863 | &nbsp;&nbsp;&nbsp;&nbsp;1258219 |
| CACI International, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;3590 | &nbsp;&nbsp;&nbsp;&nbsp;1711353 |
| CBIZ, Inc. (A) | &nbsp;&nbsp;&nbsp;7745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;555394 |
| Computershare, Ltd. | &nbsp;&nbsp;61046 | &nbsp;&nbsp;&nbsp;&nbsp;1601486 |
| Concentrix Corp. | &nbsp;&nbsp;&nbsp;7510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;396941 |
| Conduent, Inc. (A) | &nbsp;&nbsp;22841 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60300 |
| CRA International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184559 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Professional services (continued)** | **Professional services (continued)** |  |
| CSG Systems International, Inc. | &nbsp;&nbsp;&nbsp;4066 | $&nbsp;&nbsp;&nbsp;&nbsp;265550 |
| Dayforce, Inc. (A) | &nbsp;&nbsp;11289 | &nbsp;&nbsp;&nbsp;&nbsp;625298 |
| Equifax, Inc. | &nbsp;&nbsp;&nbsp;8769 | &nbsp;&nbsp;&nbsp;2274416 |
| ExlService Holdings, Inc. (A) | &nbsp;&nbsp;26562 | &nbsp;&nbsp;&nbsp;1163150 |
| Experian PLC | 106536 | &nbsp;&nbsp;&nbsp;5493661 |
| Exponent, Inc. | &nbsp;&nbsp;15798 | &nbsp;&nbsp;&nbsp;1180269 |
| First Advantage Corp. (A) | &nbsp;&nbsp;11832 | &nbsp;&nbsp;&nbsp;&nbsp;196530 |
| Franklin Covey Company (A) | &nbsp;&nbsp;&nbsp;1887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43061 |
| FTI Consulting, Inc. (A) | &nbsp;&nbsp;&nbsp;5498 | &nbsp;&nbsp;&nbsp;&nbsp;887927 |
| Genpact, Ltd. | &nbsp;&nbsp;26267 | &nbsp;&nbsp;&nbsp;1156011 |
| Heidrick & Struggles International, Inc. | &nbsp;&nbsp;&nbsp;3061 | &nbsp;&nbsp;&nbsp;&nbsp;140071 |
| Huron Consulting Group, Inc. (A) | &nbsp;&nbsp;&nbsp;2519 | &nbsp;&nbsp;&nbsp;&nbsp;346463 |
| IBEX Holdings, Ltd. (A) | &nbsp;&nbsp;&nbsp;1602 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46618 |
| ICF International, Inc. | &nbsp;&nbsp;&nbsp;2730 | &nbsp;&nbsp;&nbsp;&nbsp;231258 |
| Innodata, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;4493 | &nbsp;&nbsp;&nbsp;&nbsp;230131 |
| Insperity, Inc. | &nbsp;&nbsp;11181 | &nbsp;&nbsp;&nbsp;&nbsp;672202 |
| Intertek Group PLC | &nbsp;&nbsp;18578 | &nbsp;&nbsp;&nbsp;1210144 |
| Jacobs Solutions, Inc. | &nbsp;&nbsp;&nbsp;8484 | &nbsp;&nbsp;&nbsp;1115222 |
| KBR, Inc. | &nbsp;&nbsp;21181 | &nbsp;&nbsp;&nbsp;1015417 |
| Kelly Services, Inc., Class A | &nbsp;&nbsp;&nbsp;4907 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57461 |
| Kforce, Inc. | &nbsp;&nbsp;&nbsp;2721 | &nbsp;&nbsp;&nbsp;&nbsp;111915 |
| Korn Ferry | &nbsp;&nbsp;&nbsp;7556 | &nbsp;&nbsp;&nbsp;&nbsp;554081 |
| Legalzoom.com, Inc. (A) | &nbsp;&nbsp;16553 | &nbsp;&nbsp;&nbsp;&nbsp;147487 |
| Leidos Holdings, Inc. | &nbsp;&nbsp;&nbsp;9088 | &nbsp;&nbsp;&nbsp;1433723 |
| ManpowerGroup, Inc. | &nbsp;&nbsp;&nbsp;7556 | &nbsp;&nbsp;&nbsp;&nbsp;305262 |
| Maximus, Inc. | &nbsp;&nbsp;17534 | &nbsp;&nbsp;&nbsp;1230887 |
| Mistras Group, Inc. (A) | &nbsp;&nbsp;&nbsp;2980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23870 |
| NV5 Global, Inc. (A) | &nbsp;&nbsp;&nbsp;8754 | &nbsp;&nbsp;&nbsp;&nbsp;202130 |
| Parsons Corp. (A) | &nbsp;&nbsp;&nbsp;7678 | &nbsp;&nbsp;&nbsp;&nbsp;551050 |
| Paychex, Inc. | &nbsp;&nbsp;22634 | &nbsp;&nbsp;&nbsp;3292342 |
| Paycom Software, Inc. | &nbsp;&nbsp;&nbsp;3441 | &nbsp;&nbsp;&nbsp;&nbsp;796247 |
| Paylocity Holding Corp. (A) | &nbsp;&nbsp;&nbsp;7033 | &nbsp;&nbsp;&nbsp;1274309 |
| Planet Labs PBC (A) | &nbsp;&nbsp;32210 | &nbsp;&nbsp;&nbsp;&nbsp;196481 |
| Randstad NV | &nbsp;&nbsp;12592 | &nbsp;&nbsp;&nbsp;&nbsp;582014 |
| Recruit Holdings Company, Ltd. | 163313 | &nbsp;&nbsp;&nbsp;9603882 |
| RELX PLC (Euronext Amsterdam Exchange) | 214342 | 11616836 |
| Resolute Holdings Management, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;696 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22182 |
| Resources Connection, Inc. | &nbsp;&nbsp;&nbsp;5694 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30577 |
| Science Applications International Corp. | &nbsp;&nbsp;&nbsp;7701 | &nbsp;&nbsp;&nbsp;&nbsp;867210 |
| SGS SA | &nbsp;&nbsp;18690 | &nbsp;&nbsp;&nbsp;1897701 |
| Spire Global, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;4249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50563 |
| Teleperformance SE | &nbsp;&nbsp;&nbsp;6252 | &nbsp;&nbsp;&nbsp;&nbsp;607240 |
| TriNet Group, Inc. | &nbsp;&nbsp;&nbsp;4426 | &nbsp;&nbsp;&nbsp;&nbsp;323718 |
| TrueBlue, Inc. (A) | &nbsp;&nbsp;&nbsp;4841 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31370 |
| Upwork, Inc. (A) | &nbsp;&nbsp;18416 | &nbsp;&nbsp;&nbsp;&nbsp;247511 |
| Verisk Analytics, Inc. | &nbsp;&nbsp;&nbsp;9877 | &nbsp;&nbsp;&nbsp;3076686 |
| Verra Mobility Corp. (A) | &nbsp;&nbsp;23584 | &nbsp;&nbsp;&nbsp;&nbsp;598798 |
| Willdan Group, Inc. (A) | &nbsp;&nbsp;&nbsp;2072 | &nbsp;&nbsp;&nbsp;&nbsp;129521 |
| WNS Holdings, Ltd. (A) | &nbsp;&nbsp;&nbsp;5980 | &nbsp;&nbsp;&nbsp;&nbsp;378175 |
| Wolters Kluwer NV | &nbsp;&nbsp;27675 | &nbsp;&nbsp;&nbsp;4628317 |
|  |  | 80593916 |
| **Trading companies and distributors – 1.0%** | **Trading companies and distributors – 1.0%** |  |
| AddTech AB, B Shares | &nbsp;&nbsp;30159 | &nbsp;&nbsp;&nbsp;1028167 |
| AerCap Holdings NV | &nbsp;&nbsp;21360 | &nbsp;&nbsp;&nbsp;2499120 |
| Alta Equipment Group, Inc. | &nbsp;&nbsp;&nbsp;3591 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22695 |
| Applied Industrial Technologies, Inc. | &nbsp;&nbsp;&nbsp;6218 | &nbsp;&nbsp;&nbsp;1445374 |
| Ashtead Group PLC | &nbsp;&nbsp;50122 | &nbsp;&nbsp;&nbsp;3214123 |
| Beijer Ref AB | &nbsp;&nbsp;44660 | &nbsp;&nbsp;&nbsp;&nbsp;704780 |
| BlueLinx Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;1149 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85463 |
| Boise Cascade Company | &nbsp;&nbsp;&nbsp;5588 | &nbsp;&nbsp;&nbsp;&nbsp;485150 |
| Brenntag SE | &nbsp;&nbsp;14240 | &nbsp;&nbsp;&nbsp;&nbsp;943399 |
| Bunzl PLC | &nbsp;&nbsp;38009 | &nbsp;&nbsp;&nbsp;1211212 |
| Core & Main, Inc., Class A (A) | &nbsp;&nbsp;30923 | &nbsp;&nbsp;&nbsp;1866203 |
| Custom Truck One Source, Inc. (A) | &nbsp;&nbsp;&nbsp;9455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46708 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 136 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Trading companies and distributors (continued)** | **Trading companies and distributors (continued)** |  |
| Distribution Solutions Group, Inc. (A) | &nbsp;&nbsp;&nbsp;1749 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48045 |
| DNOW, Inc. (A) | &nbsp;&nbsp;15971 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236850 |
| DXP Enterprises, Inc. (A) | &nbsp;&nbsp;&nbsp;1936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169690 |
| Fastenal Company | &nbsp;&nbsp;81002 | &nbsp;&nbsp;&nbsp;&nbsp;3402084 |
| GATX Corp. | &nbsp;&nbsp;11108 | &nbsp;&nbsp;&nbsp;&nbsp;1705744 |
| Global Industrial, Inc. | &nbsp;&nbsp;&nbsp;2494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67363 |
| GMS, Inc. (A) | &nbsp;&nbsp;&nbsp;5681 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;617809 |
| Herc Holdings, Inc. | &nbsp;&nbsp;&nbsp;4824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;635273 |
| Hudson Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;5874 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47697 |
| IMCD NV | &nbsp;&nbsp;&nbsp;6858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;922369 |
| ITOCHU Corp. | 137920 | &nbsp;&nbsp;&nbsp;&nbsp;7222179 |
| Karat Packaging, Inc. | &nbsp;&nbsp;&nbsp;1197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33708 |
| Marubeni Corp. | 163792 | &nbsp;&nbsp;&nbsp;&nbsp;3301757 |
| McGrath RentCorp | &nbsp;&nbsp;&nbsp;3657 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;424066 |
| Mitsubishi Corp. | 396707 | &nbsp;&nbsp;&nbsp;&nbsp;7926952 |
| Mitsui & Company, Ltd. | 286529 | &nbsp;&nbsp;&nbsp;&nbsp;5839451 |
| MonotaRO Company, Ltd. | &nbsp;&nbsp;29085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;572563 |
| MRC Global, Inc. (A) | &nbsp;&nbsp;12736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174611 |
| MSC Industrial Direct Company, Inc., Class A | &nbsp;&nbsp;&nbsp;7278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;618776 |
| NPK International, Inc. (A) | &nbsp;&nbsp;12216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103958 |
| Reece, Ltd. | &nbsp;&nbsp;26233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247880 |
| Rexel SA | &nbsp;&nbsp;25953 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800460 |
| Rush Enterprises, Inc., Class A | &nbsp;&nbsp;&nbsp;9093 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;468380 |
| Rush Enterprises, Inc., Class B | &nbsp;&nbsp;&nbsp;1499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78668 |
| SGH, Ltd. | &nbsp;&nbsp;23612 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;840921 |
| Sumitomo Corp. | 126471 | &nbsp;&nbsp;&nbsp;&nbsp;3263800 |
| Titan Machinery, Inc. (A) | &nbsp;&nbsp;&nbsp;3153 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62461 |
| Toyota Tsusho Corp. | &nbsp;&nbsp;73945 | &nbsp;&nbsp;&nbsp;&nbsp;1674947 |
| Transcat, Inc. (A) | &nbsp;&nbsp;&nbsp;1372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117937 |
| United Rentals, Inc. | &nbsp;&nbsp;&nbsp;4589 | &nbsp;&nbsp;&nbsp;&nbsp;3457353 |
| W.W. Grainger, Inc. | &nbsp;&nbsp;&nbsp;3087 | &nbsp;&nbsp;&nbsp;&nbsp;3211221 |
| Watsco, Inc. | &nbsp;&nbsp;&nbsp;5696 | &nbsp;&nbsp;&nbsp;&nbsp;2515468 |
| WESCO International, Inc. | &nbsp;&nbsp;&nbsp;7251 | &nbsp;&nbsp;&nbsp;&nbsp;1342885 |
| Willis Lease Finance Corp. | &nbsp;&nbsp;&nbsp;&nbsp;542 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77387 |
| Xometry, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;6455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;218114 |
|  |  | &nbsp;&nbsp;&nbsp;66001221 |
| **Transportation infrastructure – 0.1%** | **Transportation infrastructure – 0.1%** |  |
| Aena SME SA (A)(B) | &nbsp;&nbsp;87020 | &nbsp;&nbsp;&nbsp;&nbsp;2322892 |
| Aeroports de Paris SA | &nbsp;&nbsp;&nbsp;4019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;503871 |
| Auckland International Airport, Ltd. | 195873 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;924623 |
| Getlink SE | &nbsp;&nbsp;35098 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;677533 |
| Sky Harbour Group Corp. (A)(C) | &nbsp;&nbsp;&nbsp;3435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33560 |
| Transurban Group | 360667 | &nbsp;&nbsp;&nbsp;&nbsp;3318482 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;7780961 |
|  |  | 907003807 |
| **Information technology – 21.8%** |  |  |
| **Communications equipment – 0.6%** | **Communications equipment – 0.6%** |  |
| ADTRAN Holdings, Inc. (A) | &nbsp;&nbsp;11101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99576 |
| Applied Optoelectronics, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;7953 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204313 |
| Arista Networks, Inc. (A) | &nbsp;&nbsp;72714 | &nbsp;&nbsp;&nbsp;&nbsp;7439369 |
| Aviat Networks, Inc. (A) | &nbsp;&nbsp;&nbsp;1847 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44420 |
| BK Technologies Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20831 |
| Calix, Inc. (A) | &nbsp;&nbsp;&nbsp;8688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;462115 |
| Ciena Corp. (A) | &nbsp;&nbsp;23208 | &nbsp;&nbsp;&nbsp;&nbsp;1887507 |
| Cisco Systems, Inc. | 280893 | &nbsp;&nbsp;&nbsp;19488356 |
| Clearfield, Inc. (A) | &nbsp;&nbsp;&nbsp;1771 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76879 |
| CommScope Holding Company, Inc. (A) | &nbsp;&nbsp;31583 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261507 |
| Digi International, Inc. (A) | &nbsp;&nbsp;&nbsp;5404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188383 |
| Extreme Networks, Inc. (A) | &nbsp;&nbsp;19460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;349307 |
| F5, Inc. (A) | &nbsp;&nbsp;&nbsp;4055 | &nbsp;&nbsp;&nbsp;&nbsp;1193468 |
| Harmonic, Inc. (A) | &nbsp;&nbsp;16780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158907 |
| Juniper Networks, Inc. | &nbsp;&nbsp;23379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;933523 |
| Lumentum Holdings, Inc. (A) | &nbsp;&nbsp;11331 | &nbsp;&nbsp;&nbsp;&nbsp;1077125 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Communications equipment (continued)** | **Communications equipment (continued)** |  |
| Motorola Solutions, Inc. | &nbsp;&nbsp;11785 | $&nbsp;&nbsp;&nbsp;4955121 |
| NETGEAR, Inc. (A) | &nbsp;&nbsp;&nbsp;4189 | &nbsp;&nbsp;&nbsp;&nbsp;121774 |
| NetScout Systems, Inc. (A) | &nbsp;&nbsp;10365 | &nbsp;&nbsp;&nbsp;&nbsp;257156 |
| Nokia OYJ | 617920 | &nbsp;&nbsp;&nbsp;3206157 |
| Ribbon Communications, Inc. (A) | &nbsp;&nbsp;14591 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58510 |
| Telefonaktiebolaget LM Ericsson, B Shares | 322311 | &nbsp;&nbsp;&nbsp;2754251 |
| Viasat, Inc. (A) | &nbsp;&nbsp;16818 | &nbsp;&nbsp;&nbsp;&nbsp;245543 |
| Viavi Solutions, Inc. (A) | &nbsp;&nbsp;32740 | &nbsp;&nbsp;&nbsp;&nbsp;329692 |
|  |  | 45813790 |
| **Electronic equipment, instruments and components – 1.1%** | **Electronic equipment, instruments and components – 1.1%** |  |
| 908 Devices, Inc. (A) | &nbsp;&nbsp;&nbsp;4375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31194 |
| Advanced Energy Industries, Inc. | &nbsp;&nbsp;&nbsp;5554 | &nbsp;&nbsp;&nbsp;&nbsp;735905 |
| Aeva Technologies, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;4558 | &nbsp;&nbsp;&nbsp;&nbsp;172247 |
| Amphenol Corp., Class A | &nbsp;&nbsp;85406 | &nbsp;&nbsp;&nbsp;8433843 |
| Arlo Technologies, Inc. (A) | &nbsp;&nbsp;14760 | &nbsp;&nbsp;&nbsp;&nbsp;250330 |
| Arrow Electronics, Inc. (A) | &nbsp;&nbsp;&nbsp;8469 | &nbsp;&nbsp;&nbsp;1079205 |
| Avnet, Inc. | &nbsp;&nbsp;13691 | &nbsp;&nbsp;&nbsp;&nbsp;726718 |
| Badger Meter, Inc. | &nbsp;&nbsp;&nbsp;4373 | &nbsp;&nbsp;&nbsp;1071166 |
| Bel Fuse, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23271 |
| Bel Fuse, Inc., Class B | &nbsp;&nbsp;&nbsp;1530 | &nbsp;&nbsp;&nbsp;&nbsp;149466 |
| Belden, Inc. | &nbsp;&nbsp;12254 | &nbsp;&nbsp;&nbsp;1419013 |
| Benchmark Electronics, Inc. | &nbsp;&nbsp;&nbsp;5288 | &nbsp;&nbsp;&nbsp;&nbsp;205333 |
| CDW Corp. | &nbsp;&nbsp;&nbsp;9298 | &nbsp;&nbsp;&nbsp;1660530 |
| Climb Global Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63932 |
| Cognex Corp. | &nbsp;&nbsp;27407 | &nbsp;&nbsp;&nbsp;&nbsp;869350 |
| Coherent Corp. (A) | &nbsp;&nbsp;25378 | &nbsp;&nbsp;&nbsp;2263971 |
| Corning, Inc. | &nbsp;&nbsp;54425 | &nbsp;&nbsp;&nbsp;2862211 |
| Crane NXT Company | &nbsp;&nbsp;&nbsp;8055 | &nbsp;&nbsp;&nbsp;&nbsp;434165 |
| CTS Corp. | &nbsp;&nbsp;&nbsp;4394 | &nbsp;&nbsp;&nbsp;&nbsp;187228 |
| Daktronics, Inc. (A) | &nbsp;&nbsp;&nbsp;6242 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94379 |
| ePlus, Inc. (A) | &nbsp;&nbsp;&nbsp;3898 | &nbsp;&nbsp;&nbsp;&nbsp;281046 |
| Evolv Technologies Holdings, Inc. (A) | &nbsp;&nbsp;17346 | &nbsp;&nbsp;&nbsp;&nbsp;108239 |
| Fabrinet (A) | &nbsp;&nbsp;11181 | &nbsp;&nbsp;&nbsp;3294817 |
| FARO Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;2847 | &nbsp;&nbsp;&nbsp;&nbsp;125040 |
| Flex, Ltd. (A) | &nbsp;&nbsp;62548 | &nbsp;&nbsp;&nbsp;3122396 |
| Frequency Electronics, Inc. | &nbsp;&nbsp;&nbsp;1139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25867 |
| Halma PLC | &nbsp;&nbsp;44049 | &nbsp;&nbsp;&nbsp;1936134 |
| Hexagon AB, B Shares | 240897 | &nbsp;&nbsp;&nbsp;2428144 |
| Insight Enterprises, Inc. (A) | &nbsp;&nbsp;&nbsp;4081 | &nbsp;&nbsp;&nbsp;&nbsp;563525 |
| IPG Photonics Corp. (A) | &nbsp;&nbsp;&nbsp;4306 | &nbsp;&nbsp;&nbsp;&nbsp;295607 |
| Itron, Inc. (A) | &nbsp;&nbsp;&nbsp;6690 | &nbsp;&nbsp;&nbsp;&nbsp;880605 |
| Jabil, Inc. | &nbsp;&nbsp;&nbsp;7579 | &nbsp;&nbsp;&nbsp;1652980 |
| Keyence Corp. | &nbsp;&nbsp;22575 | &nbsp;&nbsp;&nbsp;9026117 |
| Keysight Technologies, Inc. (A) | &nbsp;&nbsp;12201 | &nbsp;&nbsp;&nbsp;1999256 |
| Kimball Electronics, Inc. (A) | &nbsp;&nbsp;&nbsp;3882 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74651 |
| Knowles Corp. (A) | &nbsp;&nbsp;12874 | &nbsp;&nbsp;&nbsp;&nbsp;226840 |
| Kyocera Corp. | 148971 | &nbsp;&nbsp;&nbsp;1789195 |
| Littelfuse, Inc. | &nbsp;&nbsp;&nbsp;4035 | &nbsp;&nbsp;&nbsp;&nbsp;914856 |
| Methode Electronics, Inc. | &nbsp;&nbsp;&nbsp;5142 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48900 |
| MicroVision, Inc. (A)(C) | &nbsp;&nbsp;38117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43453 |
| Mirion Technologies, Inc. (A) | &nbsp;&nbsp;31051 | &nbsp;&nbsp;&nbsp;&nbsp;668528 |
| Murata Manufacturing Company, Ltd. | 193600 | &nbsp;&nbsp;&nbsp;2861540 |
| Napco Security Technologies, Inc. | &nbsp;&nbsp;&nbsp;5230 | &nbsp;&nbsp;&nbsp;&nbsp;155279 |
| Neonode, Inc. (A) | &nbsp;&nbsp;&nbsp;1605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40928 |
| nLight, Inc. (A) | &nbsp;&nbsp;&nbsp;7297 | &nbsp;&nbsp;&nbsp;&nbsp;143605 |
| Novanta, Inc. (A) | &nbsp;&nbsp;11176 | &nbsp;&nbsp;&nbsp;1440922 |
| Omron Corp. | &nbsp;&nbsp;20341 | &nbsp;&nbsp;&nbsp;&nbsp;548321 |
| OSI Systems, Inc. (A) | &nbsp;&nbsp;&nbsp;2364 | &nbsp;&nbsp;&nbsp;&nbsp;531569 |
| Ouster, Inc. (A) | &nbsp;&nbsp;&nbsp;7548 | &nbsp;&nbsp;&nbsp;&nbsp;183039 |
| PAR Technology Corp. (A) | &nbsp;&nbsp;&nbsp;5921 | &nbsp;&nbsp;&nbsp;&nbsp;410740 |
| PC Connection, Inc. | &nbsp;&nbsp;&nbsp;1694 | &nbsp;&nbsp;&nbsp;&nbsp;111431 |
| Plexus Corp. (A) | &nbsp;&nbsp;&nbsp;3946 | &nbsp;&nbsp;&nbsp;&nbsp;533933 |
| Powerfleet, Inc. (A) | &nbsp;&nbsp;18611 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80213 |
| Ralliant Corp. (A) | &nbsp;&nbsp;&nbsp;7999 | &nbsp;&nbsp;&nbsp;&nbsp;387888 |
| Red Cat Holdings, Inc. (A) | &nbsp;&nbsp;11138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81085 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 137 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Electronic equipment, instruments and<br> components (continued)** | **Electronic equipment, instruments and<br> components (continued)** |  |
| Rogers Corp. (A) | &nbsp;&nbsp;&nbsp;2711 | $&nbsp;&nbsp;&nbsp;&nbsp;185649 |
| Sanmina Corp. (A) | &nbsp;&nbsp;&nbsp;7683 | &nbsp;&nbsp;&nbsp;&nbsp;751628 |
| ScanSource, Inc. (A) | &nbsp;&nbsp;&nbsp;3249 | &nbsp;&nbsp;&nbsp;&nbsp;135841 |
| Shimadzu Corp. | &nbsp;&nbsp;27481 | &nbsp;&nbsp;&nbsp;&nbsp;679412 |
| TD SYNNEX Corp. | &nbsp;&nbsp;12194 | &nbsp;&nbsp;&nbsp;1654726 |
| TDK Corp. | 225544 | &nbsp;&nbsp;&nbsp;2632673 |
| TE Connectivity PLC | &nbsp;&nbsp;20938 | &nbsp;&nbsp;&nbsp;3531612 |
| Teledyne Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;3309 | &nbsp;&nbsp;&nbsp;1695234 |
| Trimble, Inc. (A) | &nbsp;&nbsp;16846 | &nbsp;&nbsp;&nbsp;1279959 |
| TTM Technologies, Inc. (A) | &nbsp;&nbsp;14876 | &nbsp;&nbsp;&nbsp;&nbsp;607238 |
| Vishay Intertechnology, Inc. | &nbsp;&nbsp;17820 | &nbsp;&nbsp;&nbsp;&nbsp;282982 |
| Vishay Precision Group, Inc. (A) | &nbsp;&nbsp;&nbsp;1975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55498 |
| Vontier Corp. | &nbsp;&nbsp;24147 | &nbsp;&nbsp;&nbsp;&nbsp;891024 |
| Vuzix Corp. (A) | &nbsp;&nbsp;&nbsp;9985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29156 |
| Yokogawa Electric Corp. | &nbsp;&nbsp;26493 | &nbsp;&nbsp;&nbsp;&nbsp;707730 |
| Zebra Technologies Corp., Class A (A) | &nbsp;&nbsp;&nbsp;3591 | &nbsp;&nbsp;&nbsp;1107321 |
|  |  | 75977829 |
| **IT services – 1.0%** | **IT services – 1.0%** |  |
| Accenture PLC, Class A | &nbsp;&nbsp;44201 | 13211237 |
| Akamai Technologies, Inc. (A) | &nbsp;&nbsp;10323 | &nbsp;&nbsp;&nbsp;&nbsp;823362 |
| Applied Digital Corp. (A) | &nbsp;&nbsp;26174 | &nbsp;&nbsp;&nbsp;&nbsp;263572 |
| ASGN, Inc. (A) | &nbsp;&nbsp;13459 | &nbsp;&nbsp;&nbsp;&nbsp;672008 |
| Backblaze, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;8400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46200 |
| BigBear.ai Holdings, Inc. (A)(C) | &nbsp;&nbsp;42838 | &nbsp;&nbsp;&nbsp;&nbsp;290870 |
| BigCommerce Holdings, Inc., Series 1 (A) | &nbsp;&nbsp;10208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51040 |
| Capgemini SE | &nbsp;&nbsp;18887 | &nbsp;&nbsp;&nbsp;3234143 |
| Cognizant Technology Solutions Corp., Class A | &nbsp;&nbsp;34805 | &nbsp;&nbsp;&nbsp;2715834 |
| Couchbase, Inc. (A) | &nbsp;&nbsp;&nbsp;6401 | &nbsp;&nbsp;&nbsp;&nbsp;156056 |
| DigitalOcean Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;9555 | &nbsp;&nbsp;&nbsp;&nbsp;272891 |
| EPAM Systems, Inc. (A) | &nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;707280 |
| Fastly, Inc., Class A (A) | &nbsp;&nbsp;20472 | &nbsp;&nbsp;&nbsp;&nbsp;144532 |
| Fujitsu, Ltd. | 204262 | &nbsp;&nbsp;&nbsp;4955268 |
| Gartner, Inc. (A) | &nbsp;&nbsp;&nbsp;5434 | &nbsp;&nbsp;&nbsp;2196531 |
| GoDaddy, Inc., Class A (A) | &nbsp;&nbsp;10061 | &nbsp;&nbsp;&nbsp;1811584 |
| Grid Dynamics Holdings, Inc. (A) | &nbsp;&nbsp;10006 | &nbsp;&nbsp;&nbsp;&nbsp;115569 |
| IBM Corp. | &nbsp;&nbsp;65621 | 19343758 |
| Information Services Group, Inc. | &nbsp;&nbsp;&nbsp;6519 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31291 |
| Kyndryl Holdings, Inc. (A) | &nbsp;&nbsp;37991 | &nbsp;&nbsp;&nbsp;1594102 |
| NEC Corp. | 142463 | &nbsp;&nbsp;&nbsp;4156364 |
| Nomura Research Institute, Ltd. | &nbsp;&nbsp;43836 | &nbsp;&nbsp;&nbsp;1753327 |
| NTT Data Group Corp. | &nbsp;&nbsp;73229 | &nbsp;&nbsp;&nbsp;2027032 |
| Obic Company, Ltd. | &nbsp;&nbsp;37559 | &nbsp;&nbsp;&nbsp;1460484 |
| Okta, Inc. (A) | &nbsp;&nbsp;27292 | &nbsp;&nbsp;&nbsp;2728381 |
| Otsuka Corp. | &nbsp;&nbsp;26455 | &nbsp;&nbsp;&nbsp;&nbsp;538925 |
| SCSK Corp. | &nbsp;&nbsp;18151 | &nbsp;&nbsp;&nbsp;&nbsp;546847 |
| The Hackett Group, Inc. | &nbsp;&nbsp;&nbsp;3999 | &nbsp;&nbsp;&nbsp;&nbsp;101655 |
| TIS, Inc. | &nbsp;&nbsp;24668 | &nbsp;&nbsp;&nbsp;&nbsp;826616 |
| TSS, Inc. (A) | &nbsp;&nbsp;&nbsp;2723 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78504 |
| Tucows, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;1150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22667 |
| Unisys Corp. (A) | &nbsp;&nbsp;10425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47225 |
| VeriSign, Inc. | &nbsp;&nbsp;&nbsp;5702 | &nbsp;&nbsp;&nbsp;1646738 |
| Wix.com, Ltd. (A) | &nbsp;&nbsp;&nbsp;6136 | &nbsp;&nbsp;&nbsp;&nbsp;972311 |
|  |  | 69544204 |
| **Semiconductors and semiconductor equipment – 8.1%** | **Semiconductors and semiconductor equipment – 8.1%** |  |
| ACM Research, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;7471 | &nbsp;&nbsp;&nbsp;&nbsp;193499 |
| Advanced Micro Devices, Inc. (A) | 114482 | 16244996 |
| Advantest Corp. | &nbsp;&nbsp;88894 | &nbsp;&nbsp;&nbsp;6589801 |
| Aehr Test Systems (A)(C) | &nbsp;&nbsp;&nbsp;4426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57228 |
| Aeluma, Inc. (A) | &nbsp;&nbsp;&nbsp;1493 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24440 |
| Allegro MicroSystems, Inc. (A) | &nbsp;&nbsp;21344 | &nbsp;&nbsp;&nbsp;&nbsp;729751 |
| Alpha & Omega Semiconductor, Ltd. (A) | &nbsp;&nbsp;&nbsp;3683 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94506 |
| Ambarella, Inc. (A) | &nbsp;&nbsp;&nbsp;6015 | &nbsp;&nbsp;&nbsp;&nbsp;397381 |
| Amkor Technology, Inc. | &nbsp;&nbsp;18554 | &nbsp;&nbsp;&nbsp;&nbsp;389448 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Semiconductors and semiconductor equipment (continued)** | **Semiconductors and semiconductor equipment (continued)** |  |
| Analog Devices, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;35019 | $&nbsp;&nbsp;&nbsp;&nbsp;8335222 |
| Applied Materials, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;57364 | &nbsp;&nbsp;&nbsp;10501627 |
| ASM International NV | &nbsp;&nbsp;&nbsp;&nbsp;5437 | &nbsp;&nbsp;&nbsp;&nbsp;3487715 |
| ASML Holding NV | &nbsp;&nbsp;&nbsp;&nbsp;45696 | &nbsp;&nbsp;&nbsp;36617894 |
| Atomera, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;4603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23199 |
| Axcelis Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;4739 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330261 |
| BE Semiconductor Industries NV | &nbsp;&nbsp;&nbsp;&nbsp;9415 | &nbsp;&nbsp;&nbsp;&nbsp;1408045 |
| Broadcom, Inc. | &nbsp;&nbsp;331988 | &nbsp;&nbsp;&nbsp;91512492 |
| CEVA, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;3564 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78337 |
| Cirrus Logic, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;8677 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;904621 |
| Cohu, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;6756 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129985 |
| Credo Technology Group Holding, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;21644 | &nbsp;&nbsp;&nbsp;&nbsp;2004018 |
| Diodes, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;6769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358012 |
| Disco Corp. | &nbsp;&nbsp;&nbsp;&nbsp;10690 | &nbsp;&nbsp;&nbsp;&nbsp;3166841 |
| Enphase Energy, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;9264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;367318 |
| Entegris, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;24718 | &nbsp;&nbsp;&nbsp;&nbsp;1993507 |
| First Solar, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;7572 | &nbsp;&nbsp;&nbsp;&nbsp;1253469 |
| FormFactor, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;11478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;394958 |
| Ichor Holdings, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;5112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100400 |
| Impinj, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;3833 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425731 |
| Indie Semiconductor, Inc., Class A (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;29181 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103884 |
| Infineon Technologies AG | &nbsp;&nbsp;151524 | &nbsp;&nbsp;&nbsp;&nbsp;6465837 |
| Intel Corp. | &nbsp;&nbsp;307985 | &nbsp;&nbsp;&nbsp;&nbsp;6898864 |
| KLA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;9337 | &nbsp;&nbsp;&nbsp;&nbsp;8363524 |
| Kopin Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;23161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35436 |
| Kulicke & Soffa Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;7550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261230 |
| Lam Research Corp. | &nbsp;&nbsp;&nbsp;&nbsp;90313 | &nbsp;&nbsp;&nbsp;&nbsp;8791067 |
| Lasertec Corp. (C) | &nbsp;&nbsp;&nbsp;&nbsp;9299 | &nbsp;&nbsp;&nbsp;&nbsp;1246630 |
| Lattice Semiconductor Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;22450 | &nbsp;&nbsp;&nbsp;&nbsp;1099826 |
| MACOM Technology Solutions Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;9716 | &nbsp;&nbsp;&nbsp;&nbsp;1392206 |
| MaxLinear, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;12150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172652 |
| Microchip Technology, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;37973 | &nbsp;&nbsp;&nbsp;&nbsp;2672160 |
| Micron Technology, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;78908 | &nbsp;&nbsp;&nbsp;&nbsp;9725411 |
| MKS, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10951 | &nbsp;&nbsp;&nbsp;&nbsp;1088091 |
| Monolithic Power Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;3381 | &nbsp;&nbsp;&nbsp;&nbsp;2472796 |
| Navitas Semiconductor Corp. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;20014 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131092 |
| NVE Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56238 |
| NVIDIA Corp. | 1721919 | 272045950 |
| NXP Semiconductors NV | &nbsp;&nbsp;&nbsp;&nbsp;17837 | &nbsp;&nbsp;&nbsp;&nbsp;3897206 |
| ON Semiconductor Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;29505 | &nbsp;&nbsp;&nbsp;&nbsp;1546357 |
| Onto Innovation, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;7979 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;805320 |
| PDF Solutions, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;4970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106259 |
| Penguin Solutions, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;7894 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156380 |
| Photronics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;8935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168246 |
| Power Integrations, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;17545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;980766 |
| Qualcomm, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;77469 | &nbsp;&nbsp;&nbsp;12337713 |
| Rambus, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;33438 | &nbsp;&nbsp;&nbsp;&nbsp;2140701 |
| Renesas Electronics Corp. | &nbsp;&nbsp;195341 | &nbsp;&nbsp;&nbsp;&nbsp;2416646 |
| Rigetti Computing, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;41803 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495784 |
| SCREEN Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;9430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;766766 |
| Semtech Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;12876 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;581223 |
| Silicon Laboratories, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;10070 | &nbsp;&nbsp;&nbsp;&nbsp;1483915 |
| SiTime Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;2909 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;619850 |
| SkyWater Technology, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;4073 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40078 |
| Skyworks Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;789912 |
| STMicroelectronics NV | &nbsp;&nbsp;&nbsp;&nbsp;78561 | &nbsp;&nbsp;&nbsp;&nbsp;2408837 |
| Synaptics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;12032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;779914 |
| Teradyne, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11327 | &nbsp;&nbsp;&nbsp;&nbsp;1018524 |
| Texas Instruments, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;64144 | &nbsp;&nbsp;&nbsp;13317577 |
| Tokyo Electron, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;51987 | &nbsp;&nbsp;&nbsp;&nbsp;9955996 |
| Ultra Clean Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;6645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149978 |
| Universal Display Corp. | &nbsp;&nbsp;&nbsp;&nbsp;7216 | &nbsp;&nbsp;&nbsp;&nbsp;1114583 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 138 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Semiconductors and semiconductor equipment (continued)** | **Semiconductors and semiconductor equipment (continued)** |  |
| Veeco Instruments, Inc. (A) | &nbsp;&nbsp;8236 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167356 |
|  |  | 569383483 |
| **Software – 7.5%** | **Software – 7.5%** |  |
| 8x8, Inc. (A) | 20861 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40888 |
| A10 Networks, Inc. | 10923 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211360 |
| ACI Worldwide, Inc. (A) | 15545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;713671 |
| Adeia, Inc. | 16282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230227 |
| Adobe, Inc. (A) | 30092 | &nbsp;&nbsp;&nbsp;11641993 |
| Agilysys, Inc. (A) | &nbsp;&nbsp;3827 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;438727 |
| Alarm.com Holdings, Inc. (A) | &nbsp;&nbsp;6972 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;394406 |
| Alkami Technology, Inc. (A) | 10130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;305318 |
| Amplitude, Inc., Class A (A) | 13192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163581 |
| ANSYS, Inc. (A) | &nbsp;&nbsp;6208 | &nbsp;&nbsp;&nbsp;&nbsp;2180374 |
| Appfolio, Inc., Class A (A) | &nbsp;&nbsp;3763 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;866544 |
| Appian Corp., Class A (A) | &nbsp;&nbsp;5911 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176502 |
| Arteris, Inc. (A) | &nbsp;&nbsp;4654 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44353 |
| Asana, Inc., Class A (A) | 13925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187988 |
| Autodesk, Inc. (A) | 15106 | &nbsp;&nbsp;&nbsp;&nbsp;4676364 |
| AvePoint, Inc. (A) | 19746 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;381295 |
| BILL Holdings, Inc. (A) | 15475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;715874 |
| Bit Digital, Inc. (A)(C) | 27282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59748 |
| Bitdeer Technologies Group, Class A (A) | 13329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153017 |
| Blackbaud, Inc. (A) | 11833 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;759797 |
| Blackline, Inc. (A) | &nbsp;&nbsp;7763 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;439541 |
| Blend Labs, Inc., Class A (A) | 31583 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104224 |
| Box, Inc., Class A (A) | 20691 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;707011 |
| Braze, Inc., Class A (A) | 11343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;318738 |
| c3.ai, Inc., Class A (A) | 17882 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;439361 |
| Cadence Design Systems, Inc. (A) | 19279 | &nbsp;&nbsp;&nbsp;&nbsp;5940824 |
| Cerence, Inc. (A) | &nbsp;&nbsp;6597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67355 |
| Check Point Software Technologies, Ltd. (A) | 10059 | &nbsp;&nbsp;&nbsp;&nbsp;2225554 |
| Cipher Mining, Inc. (A) | 39343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188060 |
| CleanSpark, Inc. (A)(C) | 40991 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;452131 |
| Clear Secure, Inc., Class A | 12359 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;343086 |
| Clearwater Analytics Holdings, Inc., Class A (A) | 36363 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;797441 |
| CommVault Systems, Inc. (A) | 13728 | &nbsp;&nbsp;&nbsp;&nbsp;2393202 |
| Consensus Cloud Solutions, Inc. (A) | &nbsp;&nbsp;2925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67451 |
| Core Scientific, Inc. (A)(C) | 40825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;696883 |
| CoreCard Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27087 |
| Crowdstrike Holdings, Inc., Class A (A) | 17586 | &nbsp;&nbsp;&nbsp;&nbsp;8956726 |
| CyberArk Software, Ltd. (A) | &nbsp;&nbsp;5452 | &nbsp;&nbsp;&nbsp;&nbsp;2218310 |
| Daily Journal Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78539 |
| Dassault Systemes SE | 77764 | &nbsp;&nbsp;&nbsp;&nbsp;2818295 |
| Digimarc Corp. (A) | &nbsp;&nbsp;2674 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35324 |
| Digital Turbine, Inc. (A) | 15198 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89668 |
| DocuSign, Inc. (A) | 33062 | &nbsp;&nbsp;&nbsp;&nbsp;2575199 |
| Dolby Laboratories, Inc., Class A | 10026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;744531 |
| Domo, Inc., Class B (A) | &nbsp;&nbsp;5283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73804 |
| Dropbox, Inc., Class A (A) | 32035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;916201 |
| D-Wave Quantum, Inc. (A)(C) | 42558 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;623049 |
| Dynatrace, Inc. (A) | 48949 | &nbsp;&nbsp;&nbsp;&nbsp;2702474 |
| E2open Parent Holdings, Inc. (A) | 28343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91548 |
| eGain Corp. (A) | &nbsp;&nbsp;3318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20738 |
| EverCommerce, Inc. (A) | &nbsp;&nbsp;2702 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28371 |
| Fair Isaac Corp. (A) | &nbsp;&nbsp;1719 | &nbsp;&nbsp;&nbsp;&nbsp;3142263 |
| Five9, Inc. (A) | 11256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;298059 |
| Fortinet, Inc. (A) | 44856 | &nbsp;&nbsp;&nbsp;&nbsp;4742176 |
| Freshworks, Inc., Class A (A) | 30109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;448925 |
| Gen Digital, Inc. | 38538 | &nbsp;&nbsp;&nbsp;&nbsp;1133017 |
| Guidewire Software, Inc. (A) | 13695 | &nbsp;&nbsp;&nbsp;&nbsp;3224488 |
| Hut 8 Corp. (A)(C) | 13953 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;259526 |
| i3 Verticals, Inc., Class A (A) | &nbsp;&nbsp;3512 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96510 |
| Intapp, Inc. (A) | &nbsp;&nbsp;8193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;422923 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Software (continued)** | **Software (continued)** |  |
| InterDigital, Inc. | &nbsp;&nbsp;&nbsp;3816 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;855662 |
| Intuit, Inc. | &nbsp;&nbsp;19739 | &nbsp;&nbsp;&nbsp;15547029 |
| Jamf Holding Corp. (A) | &nbsp;&nbsp;10402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98923 |
| Kaltura, Inc. (A) | &nbsp;&nbsp;11121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22353 |
| Life360, Inc. (A) | &nbsp;&nbsp;&nbsp;2404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156861 |
| LiveRamp Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;9591 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;316887 |
| Manhattan Associates, Inc. (A) | &nbsp;&nbsp;&nbsp;9913 | &nbsp;&nbsp;&nbsp;&nbsp;1957520 |
| MARA Holdings, Inc. (A)(C) | &nbsp;&nbsp;51236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;803380 |
| MeridianLink, Inc. (A) | &nbsp;&nbsp;&nbsp;4991 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81004 |
| Microsoft Corp. | 524786 | 261033804 |
| Mitek Systems, Inc. (A) | &nbsp;&nbsp;&nbsp;6632 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65657 |
| Monday.com, Ltd. (A) | &nbsp;&nbsp;&nbsp;4713 | &nbsp;&nbsp;&nbsp;&nbsp;1482144 |
| N-able, Inc. (A) | &nbsp;&nbsp;11214 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90833 |
| NCR Voyix Corp. (A) | &nbsp;&nbsp;20476 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240183 |
| Nemetschek SE | &nbsp;&nbsp;&nbsp;6701 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;971597 |
| NextNav, Inc. (A) | &nbsp;&nbsp;13153 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199926 |
| Nice, Ltd. (A) | &nbsp;&nbsp;&nbsp;7339 | &nbsp;&nbsp;&nbsp;&nbsp;1244056 |
| Olo, Inc., Class A (A) | &nbsp;&nbsp;17258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153596 |
| ON24, Inc. (A) | &nbsp;&nbsp;&nbsp;4981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27047 |
| OneSpan, Inc. | &nbsp;&nbsp;&nbsp;5401 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90143 |
| Ooma, Inc. (A) | &nbsp;&nbsp;&nbsp;4247 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54786 |
| Oracle Corp. | 114838 | &nbsp;&nbsp;&nbsp;25107032 |
| Oracle Corp. Japan | &nbsp;&nbsp;&nbsp;4466 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;532305 |
| Pagaya Technologies, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;6258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133421 |
| PagerDuty, Inc. (A) | &nbsp;&nbsp;12532 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191489 |
| Palantir Technologies, Inc., Class A (A) | 150189 | &nbsp;&nbsp;&nbsp;20473764 |
| Palo Alto Networks, Inc. (A) | &nbsp;&nbsp;46749 | &nbsp;&nbsp;&nbsp;&nbsp;9566715 |
| Pegasystems, Inc. | &nbsp;&nbsp;14532 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;786617 |
| Porch Group, Inc. (A) | &nbsp;&nbsp;11994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141409 |
| Progress Software Corp. | &nbsp;&nbsp;&nbsp;6284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;401171 |
| PROS Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;6496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101727 |
| PTC, Inc. (A) | &nbsp;&nbsp;&nbsp;8469 | &nbsp;&nbsp;&nbsp;&nbsp;1459547 |
| Q2 Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;9153 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;856629 |
| Qualys, Inc. (A) | &nbsp;&nbsp;11300 | &nbsp;&nbsp;&nbsp;&nbsp;1614431 |
| Rapid7, Inc. (A) | &nbsp;&nbsp;&nbsp;9462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;218856 |
| Red Violet, Inc. | &nbsp;&nbsp;&nbsp;1748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86002 |
| ReposiTrak, Inc. (C) | &nbsp;&nbsp;&nbsp;1762 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34623 |
| Rezolve AI PLC (A) | &nbsp;&nbsp;13595 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41805 |
| Rimini Street, Inc. (A) | &nbsp;&nbsp;&nbsp;7878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29700 |
| Riot Platforms, Inc. (A) | &nbsp;&nbsp;48826 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;551734 |
| Roper Technologies, Inc. | &nbsp;&nbsp;&nbsp;7591 | &nbsp;&nbsp;&nbsp;&nbsp;4302882 |
| Salesforce, Inc. | &nbsp;&nbsp;67745 | &nbsp;&nbsp;&nbsp;18473384 |
| SAP SE | 121161 | &nbsp;&nbsp;&nbsp;37048562 |
| Sapiens International Corp. NV | &nbsp;&nbsp;&nbsp;4816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140868 |
| SEMrush Holdings, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;7024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63567 |
| ServiceNow, Inc. (A) | &nbsp;&nbsp;14616 | &nbsp;&nbsp;&nbsp;15026417 |
| SoundHound AI, Inc., Class A (A)(C) | &nbsp;&nbsp;54108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;580579 |
| SoundThinking, Inc. (A) | &nbsp;&nbsp;&nbsp;1607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20979 |
| Sprinklr, Inc., Class A (A) | &nbsp;&nbsp;16456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139218 |
| Sprout Social, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;7727 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161572 |
| SPS Commerce, Inc. (A) | &nbsp;&nbsp;&nbsp;5613 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;763873 |
| Synopsys, Inc. (A) | &nbsp;&nbsp;10917 | &nbsp;&nbsp;&nbsp;&nbsp;5596928 |
| Telos Corp. (A) | &nbsp;&nbsp;&nbsp;9796 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31053 |
| Temenos AG | &nbsp;&nbsp;&nbsp;6541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;469873 |
| Tenable Holdings, Inc. (A) | &nbsp;&nbsp;17607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;594764 |
| TeraWulf, Inc. (A)(C) | &nbsp;&nbsp;39490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172966 |
| The Sage Group PLC | 113949 | &nbsp;&nbsp;&nbsp;&nbsp;1956823 |
| Trend Micro, Inc. | &nbsp;&nbsp;14714 | &nbsp;&nbsp;&nbsp;&nbsp;1017706 |
| Tyler Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;3045 | &nbsp;&nbsp;&nbsp;&nbsp;1805198 |
| Varonis Systems, Inc. (A) | &nbsp;&nbsp;16242 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;824282 |
| Verint Systems, Inc. (A) | &nbsp;&nbsp;&nbsp;9165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180276 |
| Vertex, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;9635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340453 |
| Viant Technology, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;2580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34133 |
| Weave Communications, Inc. (A) | &nbsp;&nbsp;&nbsp;8803 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73241 |
| WiseTech Global, Ltd. | &nbsp;&nbsp;23291 | &nbsp;&nbsp;&nbsp;&nbsp;1670334 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 139 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Software (continued)** | **Software (continued)** |  |
| Workday, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;15296 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3671040 |
| Workiva, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;7420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;507899 |
| Xero, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;16878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1997161 |
| Xperi, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;6937 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54872 |
| Yext, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;15885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135023 |
| Zeta Global Holdings Corp., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;27886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;431954 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;521400888 |
| **Technology hardware, storage and peripherals – 3.5%** | **Technology hardware, storage and peripherals – 3.5%** |  |
| Apple, Inc. | 1054565 | &nbsp;&nbsp;&nbsp;&nbsp;216365101 |
| Canon, Inc. (C) | &nbsp;&nbsp;108329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3141944 |
| CompoSecure, Inc., Class A (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;6594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92909 |
| Corsair Gaming, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;7081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66774 |
| Dell Technologies, Inc., Class C | &nbsp;&nbsp;&nbsp;&nbsp;21152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2593235 |
| Diebold Nixdorf, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;3787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209800 |
| Eastman Kodak Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;9716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54895 |
| FUJIFILM Holdings Corp. | &nbsp;&nbsp;129893 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2812907 |
| Hewlett Packard Enterprise Company | &nbsp;&nbsp;&nbsp;&nbsp;92748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1896697 |
| HP, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;66560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1628058 |
| Immersion Corp. | &nbsp;&nbsp;&nbsp;&nbsp;4373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34459 |
| IonQ, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;35037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1505540 |
| Logitech International SA | &nbsp;&nbsp;&nbsp;&nbsp;17647 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1600309 |
| NetApp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1530271 |
| Pure Storage, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;50741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2921667 |
| Quantum Computing, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;17044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;326733 |
| Ricoh Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;62801 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;592678 |
| Seagate Technology Holdings PLC | &nbsp;&nbsp;&nbsp;&nbsp;14984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2162641 |
| Super Micro Computer, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;36240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1776122 |
| Turtle Beach Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;2313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31989 |
| Western Digital Corp. | &nbsp;&nbsp;&nbsp;&nbsp;24633 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1576266 |
| Xerox Holdings Corp. (C) | &nbsp;&nbsp;&nbsp;&nbsp;17534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92404 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;243013399 |
|  |  | 1525133593 |
| **Materials – 3.3%** |  |  |
| **Chemicals – 1.6%** | **Chemicals – 1.6%** |  |
| AdvanSix, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;4049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96164 |
| Air Liquide SA | &nbsp;&nbsp;&nbsp;&nbsp;67112 | &nbsp;&nbsp;&nbsp;&nbsp;13838566 |
| Air Products & Chemicals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;15713 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4432009 |
| Akzo Nobel NV | &nbsp;&nbsp;&nbsp;&nbsp;19816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1390363 |
| Albemarle Corp. | &nbsp;&nbsp;&nbsp;&nbsp;8308 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520662 |
| Arkema SA | &nbsp;&nbsp;&nbsp;&nbsp;6619 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;488771 |
| Arq, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;5069 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27221 |
| Asahi Kasei Corp. | &nbsp;&nbsp;142620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1015278 |
| Ashland, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;7460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375089 |
| ASP Isotopes, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;8533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62803 |
| Aspen Aerogels, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;10113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59869 |
| Avient Corp. | &nbsp;&nbsp;&nbsp;&nbsp;28573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;923194 |
| Axalta Coating Systems, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;35683 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1059428 |
| Balchem Corp. | &nbsp;&nbsp;&nbsp;&nbsp;4841 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;770687 |
| BASF SE | &nbsp;&nbsp;103558 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5121927 |
| Cabot Corp. | &nbsp;&nbsp;&nbsp;&nbsp;16745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1255875 |
| CF Industries Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11439 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1052388 |
| Corteva, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;48166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3589812 |
| Covestro AG (A) | &nbsp;&nbsp;&nbsp;&nbsp;20833 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1482456 |
| Croda International PLC | &nbsp;&nbsp;&nbsp;&nbsp;15391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;617918 |
| Dow, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;49908 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1321564 |
| DSM-Firmenich AG | &nbsp;&nbsp;&nbsp;&nbsp;21578 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2295580 |
| DuPont de Nemours, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;29548 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2026697 |
| Eastman Chemical Company | &nbsp;&nbsp;&nbsp;&nbsp;8152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;608628 |
| Ecolab, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;17816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4800343 |
| Ecovyst, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;16222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133507 |
| EMS-Chemie Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;814 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;615386 |
| Evonik Industries AG | &nbsp;&nbsp;&nbsp;&nbsp;29738 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;614345 |
| Flotek Industries, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;2234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32974 |
| Ginkgo Bioworks Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;5858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65903 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Chemicals (continued)** | **Chemicals (continued)** |  |
| Givaudan SA | &nbsp;&nbsp;&nbsp;1071 | $&nbsp;&nbsp;&nbsp;&nbsp;5193842 |
| Hawkins, Inc. | &nbsp;&nbsp;&nbsp;2892 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;410953 |
| HB Fuller Company | &nbsp;&nbsp;&nbsp;8030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;483005 |
| ICL Group, Ltd. | &nbsp;&nbsp;89836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;616748 |
| Ingevity Corp. (A) | &nbsp;&nbsp;&nbsp;5436 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;234237 |
| Innospec, Inc. | &nbsp;&nbsp;&nbsp;3702 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;311301 |
| International Flavors & Fragrances, Inc. | &nbsp;&nbsp;18061 | &nbsp;&nbsp;&nbsp;&nbsp;1328387 |
| Intrepid Potash, Inc. (A) | &nbsp;&nbsp;&nbsp;1708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61027 |
| Koppers Holdings, Inc. | &nbsp;&nbsp;&nbsp;2945 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94682 |
| Kronos Worldwide, Inc. | &nbsp;&nbsp;&nbsp;4091 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25364 |
| Linde PLC | &nbsp;&nbsp;33236 | &nbsp;&nbsp;&nbsp;15593666 |
| LSB Industries, Inc. (A) | &nbsp;&nbsp;&nbsp;8431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65762 |
| LyondellBasell Industries NV, Class A | &nbsp;&nbsp;18154 | &nbsp;&nbsp;&nbsp;&nbsp;1050390 |
| Mativ Holdings, Inc. | &nbsp;&nbsp;&nbsp;8470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57765 |
| Minerals Technologies, Inc. | &nbsp;&nbsp;&nbsp;4729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260426 |
| Mitsubishi Chemical Group Corp. | 157294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;826741 |
| NewMarket Corp. | &nbsp;&nbsp;&nbsp;1232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;851140 |
| Nippon Paint Holdings Company, Ltd. | 110018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;884793 |
| Nippon Sanso Holdings Corp. | &nbsp;&nbsp;20100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;760614 |
| Nitto Denko Corp. | &nbsp;&nbsp;82005 | &nbsp;&nbsp;&nbsp;&nbsp;1583637 |
| Novonesis A/S, B Shares | &nbsp;&nbsp;40885 | &nbsp;&nbsp;&nbsp;&nbsp;2935415 |
| Olin Corp. | &nbsp;&nbsp;18798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;377652 |
| Orion SA | &nbsp;&nbsp;&nbsp;8470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88850 |
| Perimeter Solutions, Inc. (A) | &nbsp;&nbsp;20679 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;287852 |
| PPG Industries, Inc. | &nbsp;&nbsp;16028 | &nbsp;&nbsp;&nbsp;&nbsp;1823185 |
| PureCycle Technologies, Inc. (A)(C) | &nbsp;&nbsp;19274 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264054 |
| Quaker Chemical Corp. | &nbsp;&nbsp;&nbsp;2059 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230484 |
| Rayonier Advanced Materials, Inc. (A) | &nbsp;&nbsp;10222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39355 |
| RPM International, Inc. | &nbsp;&nbsp;20967 | &nbsp;&nbsp;&nbsp;&nbsp;2303015 |
| Sensient Technologies Corp. | &nbsp;&nbsp;&nbsp;6243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;615060 |
| Shin-Etsu Chemical Company, Ltd. | 209029 | &nbsp;&nbsp;&nbsp;&nbsp;6902546 |
| Sika AG | &nbsp;&nbsp;17689 | &nbsp;&nbsp;&nbsp;&nbsp;4812890 |
| Stepan Company | &nbsp;&nbsp;&nbsp;3205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174929 |
| Syensqo SA | &nbsp;&nbsp;&nbsp;8477 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;656665 |
| Symrise AG | &nbsp;&nbsp;15407 | &nbsp;&nbsp;&nbsp;&nbsp;1615646 |
| The Chemours Company | &nbsp;&nbsp;22496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257579 |
| The Mosaic Company | &nbsp;&nbsp;22399 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;817116 |
| The Scotts Miracle-Gro Company | &nbsp;&nbsp;&nbsp;7067 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;466139 |
| The Sherwin-Williams Company | &nbsp;&nbsp;16279 | &nbsp;&nbsp;&nbsp;&nbsp;5589557 |
| Toray Industries, Inc. | 160908 | &nbsp;&nbsp;&nbsp;&nbsp;1101456 |
| Tronox Holdings PLC | &nbsp;&nbsp;18082 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91676 |
| Westlake Corp. | &nbsp;&nbsp;&nbsp;5444 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;413363 |
| Yara International ASA | &nbsp;&nbsp;19211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;708937 |
|  |  | 113963308 |
| **Construction materials – 0.3%** | **Construction materials – 0.3%** |  |
| Amrize, Ltd. (A) | &nbsp;&nbsp;60476 | &nbsp;&nbsp;&nbsp;&nbsp;3016750 |
| Eagle Materials, Inc. | &nbsp;&nbsp;&nbsp;5435 | &nbsp;&nbsp;&nbsp;&nbsp;1098468 |
| Heidelberg Materials AG | &nbsp;&nbsp;15527 | &nbsp;&nbsp;&nbsp;&nbsp;3656558 |
| Holcim, Ltd. (A) | &nbsp;&nbsp;60476 | &nbsp;&nbsp;&nbsp;&nbsp;4490895 |
| James Hardie Industries PLC, CHESS Depositary Interest (A) | &nbsp;&nbsp;49875 | &nbsp;&nbsp;&nbsp;&nbsp;1339309 |
| Knife River Corp. (A) | &nbsp;&nbsp;17691 | &nbsp;&nbsp;&nbsp;&nbsp;1444293 |
| Martin Marietta Materials, Inc. | &nbsp;&nbsp;&nbsp;4257 | &nbsp;&nbsp;&nbsp;&nbsp;2336923 |
| Titan America SA (A) | &nbsp;&nbsp;&nbsp;4153 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51829 |
| United States Lime & Minerals, Inc. | &nbsp;&nbsp;&nbsp;1652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164870 |
| Vulcan Materials Company | &nbsp;&nbsp;&nbsp;9327 | &nbsp;&nbsp;&nbsp;&nbsp;2432668 |
|  |  | &nbsp;&nbsp;&nbsp;20032563 |
| **Containers and packaging – 0.2%** | **Containers and packaging – 0.2%** |  |
| Amcor PLC | 161792 | &nbsp;&nbsp;&nbsp;&nbsp;1486868 |
| AptarGroup, Inc. | &nbsp;&nbsp;10782 | &nbsp;&nbsp;&nbsp;&nbsp;1686628 |
| Ardagh Metal Packaging SA | &nbsp;&nbsp;21164 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90582 |
| Avery Dennison Corp. | &nbsp;&nbsp;&nbsp;5520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;968594 |
| Ball Corp. | &nbsp;&nbsp;19587 | &nbsp;&nbsp;&nbsp;&nbsp;1098635 |
| Crown Holdings, Inc. | &nbsp;&nbsp;18786 | &nbsp;&nbsp;&nbsp;&nbsp;1934582 |
| Graphic Packaging Holding Company | &nbsp;&nbsp;49266 | &nbsp;&nbsp;&nbsp;&nbsp;1038035 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 140 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Containers and packaging (continued)** | **Containers and packaging (continued)** |  |
| Greif, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;7863 | $&nbsp;&nbsp;&nbsp;&nbsp;511016 |
| Greif, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;781 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53897 |
| International Paper Company | &nbsp;&nbsp;&nbsp;&nbsp;37274 | &nbsp;&nbsp;&nbsp;1745541 |
| Myers Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;5585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80927 |
| O-I Glass, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;22628 | &nbsp;&nbsp;&nbsp;&nbsp;333537 |
| Packaging Corp. of America | &nbsp;&nbsp;&nbsp;&nbsp;6308 | &nbsp;&nbsp;&nbsp;1188743 |
| Ranpak Holdings Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;7800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27846 |
| SIG Group AG (A) | &nbsp;&nbsp;&nbsp;&nbsp;35483 | &nbsp;&nbsp;&nbsp;&nbsp;656330 |
| Silgan Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13276 | &nbsp;&nbsp;&nbsp;&nbsp;719294 |
| Smurfit WestRock PLC | &nbsp;&nbsp;&nbsp;&nbsp;35015 | &nbsp;&nbsp;&nbsp;1510897 |
| Sonoco Products Company | &nbsp;&nbsp;&nbsp;&nbsp;16103 | &nbsp;&nbsp;&nbsp;&nbsp;701447 |
| TriMas Corp. | &nbsp;&nbsp;&nbsp;&nbsp;4948 | &nbsp;&nbsp;&nbsp;&nbsp;141562 |
|  |  | 15974961 |
| **Metals and mining – 1.1%** | **Metals and mining – 1.1%** |  |
| 1911 Gold Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;3149 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;542 |
| Alcoa Corp. | &nbsp;&nbsp;&nbsp;&nbsp;42267 | &nbsp;&nbsp;&nbsp;1247299 |
| Alpha Metallurgical Resources, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;1738 | &nbsp;&nbsp;&nbsp;&nbsp;195490 |
| Anglo American PLC | &nbsp;&nbsp;129853 | &nbsp;&nbsp;&nbsp;3827791 |
| Antofagasta PLC | &nbsp;&nbsp;&nbsp;&nbsp;45755 | &nbsp;&nbsp;&nbsp;1137600 |
| ArcelorMittal SA | &nbsp;&nbsp;&nbsp;&nbsp;54423 | &nbsp;&nbsp;&nbsp;1728165 |
| Ascent Industries Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;1770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22320 |
| BHP Group, Ltd. | &nbsp;&nbsp;588962 | 14169009 |
| BlueScope Steel, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;50892 | &nbsp;&nbsp;&nbsp;&nbsp;775520 |
| Boliden AB (A) | &nbsp;&nbsp;&nbsp;&nbsp;32978 | &nbsp;&nbsp;&nbsp;1030545 |
| Caledonia Mining Corp. PLC | &nbsp;&nbsp;&nbsp;&nbsp;2789 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53883 |
| Carpenter Technology Corp. | &nbsp;&nbsp;&nbsp;&nbsp;8127 | &nbsp;&nbsp;&nbsp;2246140 |
| Century Aluminum Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;7789 | &nbsp;&nbsp;&nbsp;&nbsp;140358 |
| Cleveland-Cliffs, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;79145 | &nbsp;&nbsp;&nbsp;&nbsp;601502 |
| Coeur Mining, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;94665 | &nbsp;&nbsp;&nbsp;&nbsp;838732 |
| Commercial Metals Company | &nbsp;&nbsp;&nbsp;&nbsp;35052 | &nbsp;&nbsp;&nbsp;1714393 |
| Compass Minerals International, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;5247 | &nbsp;&nbsp;&nbsp;&nbsp;105412 |
| Constellium SE (A) | &nbsp;&nbsp;&nbsp;&nbsp;21130 | &nbsp;&nbsp;&nbsp;&nbsp;281029 |
| Contango ORE, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;1418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27623 |
| Dakota Gold Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;13956 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51498 |
| Evolution Mining, Ltd. | &nbsp;&nbsp;232334 | &nbsp;&nbsp;&nbsp;1209599 |
| Ferroglobe PLC | &nbsp;&nbsp;&nbsp;&nbsp;18423 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67612 |
| Fortescue, Ltd. | &nbsp;&nbsp;196485 | &nbsp;&nbsp;&nbsp;1975113 |
| Freeport-McMoRan, Inc. | &nbsp;&nbsp;101405 | &nbsp;&nbsp;&nbsp;4395907 |
| Glencore PLC (A) | 1189700 | &nbsp;&nbsp;&nbsp;4635834 |
| Hecla Mining Company | &nbsp;&nbsp;&nbsp;&nbsp;89129 | &nbsp;&nbsp;&nbsp;&nbsp;533883 |
| Idaho Strategic Resources, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;2110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27599 |
| Ivanhoe Electric, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;13214 | &nbsp;&nbsp;&nbsp;&nbsp;119851 |
| JFE Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;66774 | &nbsp;&nbsp;&nbsp;&nbsp;776759 |
| Kaiser Aluminum Corp. | &nbsp;&nbsp;&nbsp;&nbsp;2370 | &nbsp;&nbsp;&nbsp;&nbsp;189363 |
| MAC Copper, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;10834 | &nbsp;&nbsp;&nbsp;&nbsp;130983 |
| Materion Corp. | &nbsp;&nbsp;&nbsp;&nbsp;3068 | &nbsp;&nbsp;&nbsp;&nbsp;243507 |
| Metallus, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;5588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86111 |
| Newmont Corp. | &nbsp;&nbsp;&nbsp;&nbsp;78585 | &nbsp;&nbsp;&nbsp;4578362 |
| NioCorp Developments, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;8689 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20245 |
| Nippon Steel Corp. | &nbsp;&nbsp;112230 | &nbsp;&nbsp;&nbsp;2122486 |
| Norsk Hydro ASA | &nbsp;&nbsp;163174 | &nbsp;&nbsp;&nbsp;&nbsp;934399 |
| Northern Star Resources, Ltd. | &nbsp;&nbsp;157584 | &nbsp;&nbsp;&nbsp;1946499 |
| Novagold Resources, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;37624 | &nbsp;&nbsp;&nbsp;&nbsp;153882 |
| Nucor Corp. | &nbsp;&nbsp;&nbsp;&nbsp;16293 | &nbsp;&nbsp;&nbsp;2110595 |
| Olympic Steel, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;1510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49211 |
| Pan American Silver Corp., CVR (A) | &nbsp;&nbsp;&nbsp;&nbsp;54671 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13394 |
| Perpetua Resources Corp. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;6991 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84871 |
| Radius Recycling, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;4151 | &nbsp;&nbsp;&nbsp;&nbsp;123243 |
| Ramaco Resources, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;5525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72599 |
| Reliance, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;8586 | &nbsp;&nbsp;&nbsp;2695145 |
| Rio Tinto PLC | &nbsp;&nbsp;130947 | &nbsp;&nbsp;&nbsp;7621648 |
| Rio Tinto, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;43072 | &nbsp;&nbsp;&nbsp;3049077 |
| Royal Gold, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10746 | &nbsp;&nbsp;&nbsp;1911069 |
| Ryerson Holding Corp. | &nbsp;&nbsp;&nbsp;&nbsp;4117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88804 |
| South32, Ltd. | &nbsp;&nbsp;523609 | &nbsp;&nbsp;&nbsp;1000563 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Metals and mining (continued)** | **Metals and mining (continued)** |  |
| SSR Mining, Inc. (A) | &nbsp;&nbsp;30294 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385946 |
| Steel Dynamics, Inc. | &nbsp;&nbsp;&nbsp;9748 | &nbsp;&nbsp;&nbsp;&nbsp;1247841 |
| Sumitomo Metal Mining Company, Ltd. | &nbsp;&nbsp;28682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;706867 |
| SunCoke Energy, Inc. | &nbsp;&nbsp;12621 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108414 |
| Tredegar Corp. (A) | &nbsp;&nbsp;&nbsp;4163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36634 |
| United States Antimony Corp. (A) | &nbsp;&nbsp;14068 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30668 |
| US Gold Corp. (A) | &nbsp;&nbsp;&nbsp;2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24681 |
| Valterra Platinum, Ltd. (A) | &nbsp;&nbsp;15087 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;662693 |
| Vox Royalty Corp. | &nbsp;&nbsp;&nbsp;8542 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26993 |
| Warrior Met Coal, Inc. | &nbsp;&nbsp;&nbsp;7728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;354174 |
| Worthington Steel, Inc. | &nbsp;&nbsp;&nbsp;4987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148762 |
|  |  | &nbsp;&nbsp;&nbsp;76896737 |
| **Paper and forest products – 0.1%** | **Paper and forest products – 0.1%** |  |
| Clearwater Paper Corp. (A) | &nbsp;&nbsp;&nbsp;2379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64804 |
| Holmen AB, B Shares | &nbsp;&nbsp;&nbsp;8844 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350330 |
| Louisiana-Pacific Corp. | &nbsp;&nbsp;10112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;869531 |
| Magnera Corp. (A) | &nbsp;&nbsp;&nbsp;5018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60617 |
| Mondi PLC | &nbsp;&nbsp;51216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;836895 |
| Resolute Forest Products, Inc. (A)(D) | &nbsp;&nbsp;&nbsp;7217 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10248 |
| Stora Enso OYJ, R Shares | &nbsp;&nbsp;67577 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;734669 |
| Svenska Cellulosa AB SCA, B Shares | &nbsp;&nbsp;70489 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;916552 |
| Sylvamo Corp. | &nbsp;&nbsp;&nbsp;5089 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254959 |
| UPM-Kymmene OYJ | &nbsp;&nbsp;61930 | &nbsp;&nbsp;&nbsp;&nbsp;1691186 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;5789791 |
|  |  | 232657360 |
| **Real estate – 2.5%** |  |  |
| **Diversified REITs – 0.1%** | **Diversified REITs – 0.1%** |  |
| Alexander & Baldwin, Inc. | &nbsp;&nbsp;11429 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203779 |
| Alpine Income Property Trust, Inc. | &nbsp;&nbsp;&nbsp;2492 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36657 |
| American Assets Trust, Inc. | &nbsp;&nbsp;&nbsp;7827 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154583 |
| Armada Hoffler Properties, Inc. | &nbsp;&nbsp;11328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77823 |
| Broadstone Net Lease, Inc. | &nbsp;&nbsp;27680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;444264 |
| Covivio SA | &nbsp;&nbsp;&nbsp;6476 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;410605 |
| CTO Realty Growth, Inc. | &nbsp;&nbsp;&nbsp;4623 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79793 |
| Essential Properties Realty Trust, Inc. | &nbsp;&nbsp;29004 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;925518 |
| Gladstone Commercial Corp. | &nbsp;&nbsp;&nbsp;6752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96756 |
| Global Net Lease, Inc. | &nbsp;&nbsp;29120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219856 |
| Land Securities Group PLC | &nbsp;&nbsp;82115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;713235 |
| Modiv Industrial, Inc. | &nbsp;&nbsp;&nbsp;1649 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23218 |
| NexPoint Diversified Real Estate Trust | &nbsp;&nbsp;&nbsp;6337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26552 |
| One Liberty Properties, Inc. | &nbsp;&nbsp;&nbsp;3366 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80313 |
| Stockland | 278456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;984097 |
| WP Carey, Inc. | &nbsp;&nbsp;35751 | &nbsp;&nbsp;&nbsp;&nbsp;2230147 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;6707196 |
| **Health care REITs – 0.2%** | **Health care REITs – 0.2%** |  |
| Alexandria Real Estate Equities, Inc. | &nbsp;&nbsp;10870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;789488 |
| American Healthcare REIT, Inc. | &nbsp;&nbsp;23453 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;861663 |
| CareTrust REIT, Inc. | &nbsp;&nbsp;27757 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;849364 |
| Community Healthcare Trust, Inc. | &nbsp;&nbsp;&nbsp;4031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67036 |
| Diversified Healthcare Trust | &nbsp;&nbsp;33141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118645 |
| Global Medical REIT, Inc. | &nbsp;&nbsp;10511 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72841 |
| Healthcare Realty Trust, Inc. | &nbsp;&nbsp;57375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;909968 |
| Healthpeak Properties, Inc. | &nbsp;&nbsp;49051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;858883 |
| LTC Properties, Inc. | &nbsp;&nbsp;&nbsp;6498 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;224896 |
| National Health Investors, Inc. | &nbsp;&nbsp;&nbsp;6797 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476606 |
| Omega Healthcare Investors, Inc. | &nbsp;&nbsp;47248 | &nbsp;&nbsp;&nbsp;&nbsp;1731639 |
| Sabra Health Care REIT, Inc. | &nbsp;&nbsp;73706 | &nbsp;&nbsp;&nbsp;&nbsp;1359139 |
| Sila Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;8188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193810 |
| Universal Health Realty Income Trust | &nbsp;&nbsp;&nbsp;1992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79620 |
| Ventas, Inc. | &nbsp;&nbsp;31864 | &nbsp;&nbsp;&nbsp;&nbsp;2012212 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 141 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Health care REITs (continued)** | **Health care REITs (continued)** |  |
| Welltower, Inc. | &nbsp;&nbsp;43865 | $&nbsp;&nbsp;&nbsp;6743366 |
|  |  | 17349176 |
| **Hotel and resort REITs – 0.1%** | **Hotel and resort REITs – 0.1%** |  |
| Apple Hospitality REIT, Inc. | &nbsp;&nbsp;31667 | &nbsp;&nbsp;&nbsp;&nbsp;369554 |
| Braemar Hotels & Resorts, Inc. | &nbsp;&nbsp;&nbsp;9341 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22885 |
| Chatham Lodging Trust | &nbsp;&nbsp;&nbsp;6544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45612 |
| DiamondRock Hospitality Company | &nbsp;&nbsp;29643 | &nbsp;&nbsp;&nbsp;&nbsp;227065 |
| Host Hotels & Resorts, Inc. | &nbsp;&nbsp;48982 | &nbsp;&nbsp;&nbsp;&nbsp;752364 |
| Park Hotels & Resorts, Inc. | &nbsp;&nbsp;32636 | &nbsp;&nbsp;&nbsp;&nbsp;333866 |
| Pebblebrook Hotel Trust | &nbsp;&nbsp;16901 | &nbsp;&nbsp;&nbsp;&nbsp;168841 |
| RLJ Lodging Trust | &nbsp;&nbsp;20805 | &nbsp;&nbsp;&nbsp;&nbsp;151460 |
| Ryman Hospitality Properties, Inc. | &nbsp;&nbsp;&nbsp;8582 | &nbsp;&nbsp;&nbsp;&nbsp;846786 |
| Service Properties Trust | &nbsp;&nbsp;23444 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56031 |
| Summit Hotel Properties, Inc. | &nbsp;&nbsp;16193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82422 |
| Sunstone Hotel Investors, Inc. | &nbsp;&nbsp;28651 | &nbsp;&nbsp;&nbsp;&nbsp;248691 |
| Xenia Hotels & Resorts, Inc. | &nbsp;&nbsp;14990 | &nbsp;&nbsp;&nbsp;&nbsp;188424 |
|  |  | &nbsp;&nbsp;&nbsp;3494001 |
| **Industrial REITs – 0.3%** | **Industrial REITs – 0.3%** |  |
| CapitaLand Ascendas REIT | 433995 | &nbsp;&nbsp;&nbsp;&nbsp;915796 |
| EastGroup Properties, Inc. | &nbsp;&nbsp;&nbsp;8562 | &nbsp;&nbsp;&nbsp;1430881 |
| First Industrial Realty Trust, Inc. | &nbsp;&nbsp;21616 | &nbsp;&nbsp;&nbsp;1040378 |
| Goodman Group | 235672 | &nbsp;&nbsp;&nbsp;5313135 |
| Industrial Logistics Properties Trust | &nbsp;&nbsp;&nbsp;8438 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38393 |
| Innovative Industrial Properties, Inc. | &nbsp;&nbsp;&nbsp;4092 | &nbsp;&nbsp;&nbsp;&nbsp;225960 |
| LXP Industrial Trust | &nbsp;&nbsp;43883 | &nbsp;&nbsp;&nbsp;&nbsp;362474 |
| Plymouth Industrial REIT, Inc. | &nbsp;&nbsp;&nbsp;6166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99026 |
| Prologis, Inc. | &nbsp;&nbsp;65517 | &nbsp;&nbsp;&nbsp;6887147 |
| Rexford Industrial Realty, Inc. | &nbsp;&nbsp;38551 | &nbsp;&nbsp;&nbsp;1371259 |
| Segro PLC | 149180 | &nbsp;&nbsp;&nbsp;1396495 |
| STAG Industrial, Inc. | &nbsp;&nbsp;30468 | &nbsp;&nbsp;&nbsp;1105379 |
| Terreno Realty Corp. | &nbsp;&nbsp;14946 | &nbsp;&nbsp;&nbsp;&nbsp;838022 |
|  |  | 21024345 |
| **Office REITs – 0.1%** | **Office REITs – 0.1%** |  |
| Brandywine Realty Trust | &nbsp;&nbsp;25666 | &nbsp;&nbsp;&nbsp;&nbsp;110107 |
| BXP, Inc. | &nbsp;&nbsp;10284 | &nbsp;&nbsp;&nbsp;&nbsp;693861 |
| City Office REIT, Inc. | &nbsp;&nbsp;&nbsp;7158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38224 |
| COPT Defense Properties | &nbsp;&nbsp;35019 | &nbsp;&nbsp;&nbsp;&nbsp;965824 |
| Cousins Properties, Inc. | &nbsp;&nbsp;27414 | &nbsp;&nbsp;&nbsp;&nbsp;823242 |
| Douglas Emmett, Inc. | &nbsp;&nbsp;23480 | &nbsp;&nbsp;&nbsp;&nbsp;353139 |
| Easterly Government Properties, Inc. | &nbsp;&nbsp;&nbsp;5579 | &nbsp;&nbsp;&nbsp;&nbsp;123854 |
| Empire State Realty Trust, Inc., Class A | &nbsp;&nbsp;20737 | &nbsp;&nbsp;&nbsp;&nbsp;167762 |
| Franklin Street Properties Corp. | &nbsp;&nbsp;14135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23181 |
| Gecina SA | &nbsp;&nbsp;&nbsp;5342 | &nbsp;&nbsp;&nbsp;&nbsp;588071 |
| Hudson Pacific Properties, Inc. (A) | &nbsp;&nbsp;47631 | &nbsp;&nbsp;&nbsp;&nbsp;130509 |
| JBG SMITH Properties | &nbsp;&nbsp;10885 | &nbsp;&nbsp;&nbsp;&nbsp;188311 |
| Kilroy Realty Corp. | &nbsp;&nbsp;17380 | &nbsp;&nbsp;&nbsp;&nbsp;596308 |
| NET Lease Office Properties (A) | &nbsp;&nbsp;&nbsp;2226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72456 |
| Nippon Building Fund, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;888 | &nbsp;&nbsp;&nbsp;&nbsp;819961 |
| Paramount Group, Inc. (A) | &nbsp;&nbsp;28105 | &nbsp;&nbsp;&nbsp;&nbsp;171441 |
| Peakstone Realty Trust | &nbsp;&nbsp;&nbsp;5619 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74227 |
| Piedmont Realty Trust, Inc. | &nbsp;&nbsp;18435 | &nbsp;&nbsp;&nbsp;&nbsp;134391 |
| Postal Realty Trust, Inc., Class A | &nbsp;&nbsp;&nbsp;3451 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50833 |
| SL Green Realty Corp. | &nbsp;&nbsp;10548 | &nbsp;&nbsp;&nbsp;&nbsp;652921 |
| Vornado Realty Trust | &nbsp;&nbsp;27265 | &nbsp;&nbsp;&nbsp;1042614 |
|  |  | &nbsp;&nbsp;&nbsp;7821237 |
| **Real estate management and development – 0.5%** | **Real estate management and development – 0.5%** |  |
| Anywhere Real Estate, Inc. (A) | &nbsp;&nbsp;15941 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57706 |
| Azrieli Group, Ltd. | &nbsp;&nbsp;&nbsp;4924 | &nbsp;&nbsp;&nbsp;&nbsp;453445 |
| CapitaLand Investment, Ltd. | 271685 | &nbsp;&nbsp;&nbsp;&nbsp;566371 |
| CBRE Group, Inc., Class A (A) | &nbsp;&nbsp;20733 | &nbsp;&nbsp;&nbsp;2905108 |
| CK Asset Holdings, Ltd. | 223345 | &nbsp;&nbsp;&nbsp;&nbsp;986922 |
| Compass, Inc., Class A (A) | &nbsp;&nbsp;67502 | &nbsp;&nbsp;&nbsp;&nbsp;423913 |
| CoStar Group, Inc. (A) | &nbsp;&nbsp;29788 | &nbsp;&nbsp;&nbsp;2394955 |
| Cushman & Wakefield PLC (A) | &nbsp;&nbsp;34059 | &nbsp;&nbsp;&nbsp;&nbsp;377033 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Real estate management and development (continued)** | **Real estate management and development (continued)** |  |
| Daito Trust Construction Company, Ltd. | &nbsp;&nbsp;&nbsp;6797 | $&nbsp;&nbsp;&nbsp;&nbsp;740318 |
| Daiwa House Industry Company, Ltd. | &nbsp;&nbsp;65041 | &nbsp;&nbsp;&nbsp;2234989 |
| Douglas Elliman, Inc. (A) | &nbsp;&nbsp;11489 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26654 |
| eXp World Holdings, Inc. | &nbsp;&nbsp;11733 | &nbsp;&nbsp;&nbsp;&nbsp;106770 |
| Fastighets AB Balder, B Shares (A) | &nbsp;&nbsp;83309 | &nbsp;&nbsp;&nbsp;&nbsp;621008 |
| Forestar Group, Inc. (A) | &nbsp;&nbsp;&nbsp;2998 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59960 |
| FRP Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;1953 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52516 |
| Henderson Land Development Company, Ltd. | 168530 | &nbsp;&nbsp;&nbsp;&nbsp;591877 |
| Hongkong Land Holdings, Ltd. | 128019 | &nbsp;&nbsp;&nbsp;&nbsp;739088 |
| Hulic Company, Ltd. | &nbsp;&nbsp;53458 | &nbsp;&nbsp;&nbsp;&nbsp;539219 |
| Jones Lang LaSalle, Inc. (A) | &nbsp;&nbsp;&nbsp;7751 | &nbsp;&nbsp;&nbsp;1982551 |
| Kennedy-Wilson Holdings, Inc. | &nbsp;&nbsp;18799 | &nbsp;&nbsp;&nbsp;&nbsp;127833 |
| LEG Immobilien SE | &nbsp;&nbsp;&nbsp;8641 | &nbsp;&nbsp;&nbsp;&nbsp;769149 |
| Marcus & Millichap, Inc. | &nbsp;&nbsp;&nbsp;3864 | &nbsp;&nbsp;&nbsp;&nbsp;118663 |
| Maui Land & Pineapple Company, Inc. (A) | &nbsp;&nbsp;&nbsp;1204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21901 |
| Mitsubishi Estate Company, Ltd. | 123363 | &nbsp;&nbsp;&nbsp;2312700 |
| Mitsui Fudosan Company, Ltd. | 306673 | &nbsp;&nbsp;&nbsp;2968926 |
| Newmark Group, Inc., Class A | &nbsp;&nbsp;19935 | &nbsp;&nbsp;&nbsp;&nbsp;242210 |
| RE/MAX Holdings, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;3052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24965 |
| Redfin Corp. (A)(C) | &nbsp;&nbsp;18425 | &nbsp;&nbsp;&nbsp;&nbsp;206176 |
| Sagax AB, Class B (C) | &nbsp;&nbsp;25500 | &nbsp;&nbsp;&nbsp;&nbsp;584312 |
| Seaport Entertainment Group, Inc. (A) | &nbsp;&nbsp;&nbsp;1293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24231 |
| Sino Land Company, Ltd. | 418412 | &nbsp;&nbsp;&nbsp;&nbsp;445665 |
| Sumitomo Realty & Development Company, Ltd. | &nbsp;&nbsp;35905 | &nbsp;&nbsp;&nbsp;1386627 |
| Sun Hung Kai Properties, Ltd. | 168114 | &nbsp;&nbsp;&nbsp;1937185 |
| Swiss Prime Site AG | &nbsp;&nbsp;&nbsp;9310 | &nbsp;&nbsp;&nbsp;1397656 |
| Tejon Ranch Company (A) | &nbsp;&nbsp;&nbsp;3626 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61497 |
| The Real Brokerage, Inc. (A) | &nbsp;&nbsp;16121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72706 |
| The RMR Group, Inc., Class A | &nbsp;&nbsp;&nbsp;2467 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40335 |
| The St. Joe Company | &nbsp;&nbsp;&nbsp;5615 | &nbsp;&nbsp;&nbsp;&nbsp;267836 |
| The Wharf Holdings, Ltd. | 124107 | &nbsp;&nbsp;&nbsp;&nbsp;378384 |
| Vonovia SE | &nbsp;&nbsp;85927 | &nbsp;&nbsp;&nbsp;3046402 |
| Wharf Real Estate Investment Company, Ltd. | 193766 | &nbsp;&nbsp;&nbsp;&nbsp;550023 |
|  |  | 32845785 |
| **Residential REITs – 0.2%** | **Residential REITs – 0.2%** |  |
| American Homes 4 Rent, Class A | &nbsp;&nbsp;51885 | &nbsp;&nbsp;&nbsp;1871492 |
| Apartment Investment and Management Company, Class A | &nbsp;&nbsp;20537 | &nbsp;&nbsp;&nbsp;&nbsp;177645 |
| AvalonBay Communities, Inc. | &nbsp;&nbsp;10039 | &nbsp;&nbsp;&nbsp;2042937 |
| BRT Apartments Corp. | &nbsp;&nbsp;&nbsp;1980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30967 |
| Camden Property Trust | &nbsp;&nbsp;&nbsp;7544 | &nbsp;&nbsp;&nbsp;&nbsp;850133 |
| Centerspace | &nbsp;&nbsp;&nbsp;2486 | &nbsp;&nbsp;&nbsp;&nbsp;149632 |
| Elme Communities | &nbsp;&nbsp;13009 | &nbsp;&nbsp;&nbsp;&nbsp;206843 |
| Equity LifeStyle Properties, Inc. | &nbsp;&nbsp;31215 | &nbsp;&nbsp;&nbsp;1925029 |
| Equity Residential | &nbsp;&nbsp;24144 | &nbsp;&nbsp;&nbsp;1629479 |
| Essex Property Trust, Inc. | &nbsp;&nbsp;&nbsp;4546 | &nbsp;&nbsp;&nbsp;1288336 |
| Independence Realty Trust, Inc. | &nbsp;&nbsp;72155 | &nbsp;&nbsp;&nbsp;1276422 |
| Invitation Homes, Inc. | &nbsp;&nbsp;40248 | &nbsp;&nbsp;&nbsp;1320134 |
| Mid-America Apartment Communities, Inc. | &nbsp;&nbsp;&nbsp;8265 | &nbsp;&nbsp;&nbsp;1223303 |
| NexPoint Residential Trust, Inc. | &nbsp;&nbsp;&nbsp;3494 | &nbsp;&nbsp;&nbsp;&nbsp;116420 |
| UDR, Inc. | &nbsp;&nbsp;21286 | &nbsp;&nbsp;&nbsp;&nbsp;869107 |
| UMH Properties, Inc. | &nbsp;&nbsp;11883 | &nbsp;&nbsp;&nbsp;&nbsp;199516 |
| Veris Residential, Inc. | &nbsp;&nbsp;11715 | &nbsp;&nbsp;&nbsp;&nbsp;174436 |
|  |  | 15351831 |
| **Retail REITs – 0.4%** | **Retail REITs – 0.4%** |  |
| Acadia Realty Trust | &nbsp;&nbsp;19622 | &nbsp;&nbsp;&nbsp;&nbsp;364381 |
| Agree Realty Corp. | &nbsp;&nbsp;17928 | &nbsp;&nbsp;&nbsp;1309820 |
| Alexander's, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79313 |
| Brixmor Property Group, Inc. | &nbsp;&nbsp;49969 | &nbsp;&nbsp;&nbsp;1301193 |
| CapitaLand Integrated Commercial Trust | 678921 | &nbsp;&nbsp;&nbsp;1159308 |
| CBL & Associates Properties, Inc. | &nbsp;&nbsp;&nbsp;2668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67741 |
| Curbline Properties Corp. | &nbsp;&nbsp;14572 | &nbsp;&nbsp;&nbsp;&nbsp;332679 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 142 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Retail REITs (continued)** | **Retail REITs (continued)** |  |
| Federal Realty Investment Trust | &nbsp;&nbsp;&nbsp;5481 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520640 |
| FrontView REIT, Inc. | &nbsp;&nbsp;&nbsp;2798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33576 |
| Getty Realty Corp. | &nbsp;&nbsp;&nbsp;7774 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214873 |
| InvenTrust Properties Corp. | &nbsp;&nbsp;11589 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;317539 |
| Kimco Realty Corp. | &nbsp;&nbsp;47766 | &nbsp;&nbsp;&nbsp;&nbsp;1004041 |
| Kite Realty Group Trust | &nbsp;&nbsp;68089 | &nbsp;&nbsp;&nbsp;&nbsp;1542216 |
| Klepierre SA | &nbsp;&nbsp;24963 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;987019 |
| Link REIT | 301645 | &nbsp;&nbsp;&nbsp;&nbsp;1615759 |
| NETSTREIT Corp. | &nbsp;&nbsp;12087 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204633 |
| NNN REIT, Inc. | &nbsp;&nbsp;30686 | &nbsp;&nbsp;&nbsp;&nbsp;1325021 |
| Phillips Edison & Company, Inc. | &nbsp;&nbsp;18526 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;648966 |
| Realty Income Corp. | &nbsp;&nbsp;63765 | &nbsp;&nbsp;&nbsp;&nbsp;3673502 |
| Regency Centers Corp. | &nbsp;&nbsp;11535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;821638 |
| Saul Centers, Inc. | &nbsp;&nbsp;&nbsp;2110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72035 |
| Scentre Group | 604372 | &nbsp;&nbsp;&nbsp;&nbsp;1419498 |
| Simon Property Group, Inc. | &nbsp;&nbsp;21664 | &nbsp;&nbsp;&nbsp;&nbsp;3482705 |
| SITE Centers Corp. | &nbsp;&nbsp;&nbsp;7653 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86555 |
| Tanger, Inc. | &nbsp;&nbsp;16312 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498821 |
| The Macerich Company | &nbsp;&nbsp;37397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;605083 |
| Unibail-Rodamco-Westfield (A) | &nbsp;&nbsp;14106 | &nbsp;&nbsp;&nbsp;&nbsp;1355976 |
| Urban Edge Properties | &nbsp;&nbsp;19021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;354932 |
| Vicinity, Ltd. | 450032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;734661 |
| Whitestone REIT | &nbsp;&nbsp;&nbsp;6550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81744 |
|  |  | &nbsp;&nbsp;&nbsp;26215868 |
| **Specialized REITs – 0.6%** | **Specialized REITs – 0.6%** |  |
| American Tower Corp. | &nbsp;&nbsp;33054 | &nbsp;&nbsp;&nbsp;&nbsp;7305595 |
| Crown Castle, Inc. | &nbsp;&nbsp;30746 | &nbsp;&nbsp;&nbsp;&nbsp;3158537 |
| CubeSmart | &nbsp;&nbsp;37217 | &nbsp;&nbsp;&nbsp;&nbsp;1581723 |
| Digital Realty Trust, Inc. | &nbsp;&nbsp;22353 | &nbsp;&nbsp;&nbsp;&nbsp;3896798 |
| EPR Properties | &nbsp;&nbsp;12419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;723531 |
| Equinix, Inc. | &nbsp;&nbsp;&nbsp;6907 | &nbsp;&nbsp;&nbsp;&nbsp;5494311 |
| Extra Space Storage, Inc. | &nbsp;&nbsp;14984 | &nbsp;&nbsp;&nbsp;&nbsp;2209241 |
| Farmland Partners, Inc. | &nbsp;&nbsp;&nbsp;6089 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70084 |
| Four Corners Property Trust, Inc. | &nbsp;&nbsp;14904 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;401067 |
| Gaming and Leisure Properties, Inc. | &nbsp;&nbsp;44871 | &nbsp;&nbsp;&nbsp;&nbsp;2094578 |
| Gladstone Land Corp. | &nbsp;&nbsp;&nbsp;5469 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55620 |
| Iron Mountain, Inc. | &nbsp;&nbsp;20832 | &nbsp;&nbsp;&nbsp;&nbsp;2136738 |
| Lamar Advertising Company, Class A | &nbsp;&nbsp;14363 | &nbsp;&nbsp;&nbsp;&nbsp;1743094 |
| National Storage Affiliates Trust | &nbsp;&nbsp;11486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;367437 |
| Outfront Media, Inc. | &nbsp;&nbsp;20198 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;329631 |
| PotlatchDeltic Corp. | &nbsp;&nbsp;23112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;886807 |
| Public Storage | &nbsp;&nbsp;11148 | &nbsp;&nbsp;&nbsp;&nbsp;3271046 |
| Rayonier, Inc. | &nbsp;&nbsp;22890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;507700 |
| Safehold, Inc. | &nbsp;&nbsp;&nbsp;8315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129381 |
| SBA Communications Corp. | &nbsp;&nbsp;&nbsp;7587 | &nbsp;&nbsp;&nbsp;&nbsp;1781731 |
| Smartstop Self Storage REIT, Inc. | &nbsp;&nbsp;&nbsp;3995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144739 |
| Uniti Group, Inc. (A) | &nbsp;&nbsp;35612 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153844 |
| VICI Properties, Inc. | &nbsp;&nbsp;74615 | &nbsp;&nbsp;&nbsp;&nbsp;2432449 |
| Weyerhaeuser Company | &nbsp;&nbsp;51211 | &nbsp;&nbsp;&nbsp;&nbsp;1315611 |
|  |  | &nbsp;&nbsp;&nbsp;42191293 |
|  |  | 173000732 |
| **Utilities – 2.7%** |  |  |
| **Electric utilities – 1.5%** | **Electric utilities – 1.5%** |  |
| Acciona SA (C) | &nbsp;&nbsp;&nbsp;2864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;516563 |
| ALLETE, Inc. | &nbsp;&nbsp;17883 | &nbsp;&nbsp;&nbsp;&nbsp;1145764 |
| Alliant Energy Corp. | &nbsp;&nbsp;18139 | &nbsp;&nbsp;&nbsp;&nbsp;1096865 |
| American Electric Power Company, Inc. | &nbsp;&nbsp;37718 | &nbsp;&nbsp;&nbsp;&nbsp;3913620 |
| BKW AG | &nbsp;&nbsp;&nbsp;2451 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;537381 |
| Chubu Electric Power Company, Inc. | &nbsp;&nbsp;74760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;925112 |
| CK Infrastructure Holdings, Ltd. | &nbsp;&nbsp;73088 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;484007 |
| CLP Holdings, Ltd. | 190541 | &nbsp;&nbsp;&nbsp;&nbsp;1609263 |
| Constellation Energy Corp. | &nbsp;&nbsp;22129 | &nbsp;&nbsp;&nbsp;&nbsp;7142356 |
| Contact Energy, Ltd. | &nbsp;&nbsp;93150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;511192 |
| Duke Energy Corp. | &nbsp;&nbsp;54881 | &nbsp;&nbsp;&nbsp;&nbsp;6475958 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Electric utilities (continued)** | **Electric utilities (continued)** |  |
| Edison International | &nbsp;&nbsp;&nbsp;&nbsp;27166 | $&nbsp;&nbsp;&nbsp;&nbsp;1401766 |
| EDP SA | &nbsp;&nbsp;364100 | &nbsp;&nbsp;&nbsp;&nbsp;1581752 |
| Elia Group SA/NV | &nbsp;&nbsp;&nbsp;&nbsp;5695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;657740 |
| Endesa SA (C) | &nbsp;&nbsp;&nbsp;&nbsp;36854 | &nbsp;&nbsp;&nbsp;&nbsp;1167712 |
| Enel SpA | &nbsp;&nbsp;943701 | &nbsp;&nbsp;&nbsp;&nbsp;8956391 |
| Entergy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;31515 | &nbsp;&nbsp;&nbsp;&nbsp;2619527 |
| Evergy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16245 | &nbsp;&nbsp;&nbsp;&nbsp;1119768 |
| Eversource Energy | &nbsp;&nbsp;&nbsp;&nbsp;25940 | &nbsp;&nbsp;&nbsp;&nbsp;1650303 |
| Exelon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;71279 | &nbsp;&nbsp;&nbsp;&nbsp;3094934 |
| FirstEnergy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;36266 | &nbsp;&nbsp;&nbsp;&nbsp;1460069 |
| Fortum OYJ | &nbsp;&nbsp;&nbsp;&nbsp;52055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;976125 |
| Genie Energy, Ltd., B Shares | &nbsp;&nbsp;&nbsp;&nbsp;3283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88247 |
| Hawaiian Electric Industries, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;25822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;274488 |
| Iberdrola SA | &nbsp;&nbsp;672562 | &nbsp;&nbsp;&nbsp;12938771 |
| IDACORP, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;8820 | &nbsp;&nbsp;&nbsp;&nbsp;1018269 |
| MGE Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;5501 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;486508 |
| NextEra Energy, Inc. | &nbsp;&nbsp;145352 | &nbsp;&nbsp;&nbsp;10090336 |
| NRG Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13804 | &nbsp;&nbsp;&nbsp;&nbsp;2216646 |
| OGE Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;32870 | &nbsp;&nbsp;&nbsp;&nbsp;1458771 |
| Oklo, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;15167 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;849200 |
| Origin Energy, Ltd. | &nbsp;&nbsp;199893 | &nbsp;&nbsp;&nbsp;&nbsp;1420826 |
| Otter Tail Corp. | &nbsp;&nbsp;&nbsp;&nbsp;5705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;439798 |
| PG&E Corp. | &nbsp;&nbsp;155171 | &nbsp;&nbsp;&nbsp;&nbsp;2163084 |
| Pinnacle West Capital Corp. | &nbsp;&nbsp;&nbsp;&nbsp;8430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;754232 |
| Portland General Electric Company | &nbsp;&nbsp;&nbsp;&nbsp;33856 | &nbsp;&nbsp;&nbsp;&nbsp;1375569 |
| Power Assets Holdings, Ltd. | &nbsp;&nbsp;160725 | &nbsp;&nbsp;&nbsp;&nbsp;1033391 |
| PPL Corp. | &nbsp;&nbsp;&nbsp;&nbsp;52195 | &nbsp;&nbsp;&nbsp;&nbsp;1768889 |
| Redeia Corp. SA (C) | &nbsp;&nbsp;&nbsp;&nbsp;47085 | &nbsp;&nbsp;&nbsp;&nbsp;1007513 |
| SSE PLC | &nbsp;&nbsp;128363 | &nbsp;&nbsp;&nbsp;&nbsp;3232195 |
| Terna - Rete Elettrica Nazionale | &nbsp;&nbsp;163249 | &nbsp;&nbsp;&nbsp;&nbsp;1678357 |
| The Kansai Electric Power Company, Inc. | &nbsp;&nbsp;109961 | &nbsp;&nbsp;&nbsp;&nbsp;1304118 |
| The Southern Company | &nbsp;&nbsp;&nbsp;&nbsp;77600 | &nbsp;&nbsp;&nbsp;&nbsp;7126008 |
| TXNM Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;28717 | &nbsp;&nbsp;&nbsp;&nbsp;1617341 |
| Verbund AG | &nbsp;&nbsp;&nbsp;&nbsp;7900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;606929 |
| Xcel Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;40722 | &nbsp;&nbsp;&nbsp;&nbsp;2773168 |
|  |  | 106766822 |
| **Gas utilities – 0.2%** | **Gas utilities – 0.2%** |  |
| APA Group | &nbsp;&nbsp;151358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;813816 |
| Atmos Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;11215 | &nbsp;&nbsp;&nbsp;&nbsp;1728344 |
| Brookfield Infrastructure Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;17849 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;742518 |
| Chesapeake Utilities Corp. | &nbsp;&nbsp;&nbsp;&nbsp;3414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;410431 |
| Hong Kong & China Gas Company, Ltd. | 1299032 | &nbsp;&nbsp;&nbsp;&nbsp;1092213 |
| National Fuel Gas Company | &nbsp;&nbsp;&nbsp;&nbsp;14751 | &nbsp;&nbsp;&nbsp;&nbsp;1249557 |
| New Jersey Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;31097 | &nbsp;&nbsp;&nbsp;&nbsp;1393768 |
| Northwest Natural Holding Company | &nbsp;&nbsp;&nbsp;&nbsp;5944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236096 |
| ONE Gas, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;18509 | &nbsp;&nbsp;&nbsp;&nbsp;1330057 |
| Osaka Gas Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;42200 | &nbsp;&nbsp;&nbsp;&nbsp;1082427 |
| RGC Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;1604 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35898 |
| Snam SpA | &nbsp;&nbsp;233969 | &nbsp;&nbsp;&nbsp;&nbsp;1416376 |
| Southwest Gas Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;19372 | &nbsp;&nbsp;&nbsp;&nbsp;1441083 |
| Spire, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;18019 | &nbsp;&nbsp;&nbsp;&nbsp;1315207 |
| Tokyo Gas Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;38355 | &nbsp;&nbsp;&nbsp;&nbsp;1275767 |
| UGI Corp. | &nbsp;&nbsp;&nbsp;&nbsp;35011 | &nbsp;&nbsp;&nbsp;&nbsp;1275101 |
|  |  | &nbsp;&nbsp;&nbsp;16838659 |
| **Independent power and renewable electricity producers –<br> 0.2%** | **Independent power and renewable electricity producers –<br> 0.2%** |  |
| EDP Renovaveis SA | &nbsp;&nbsp;&nbsp;&nbsp;36599 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;409532 |
| Meridian Energy, Ltd. | &nbsp;&nbsp;151742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;546140 |
| Montauk Renewables, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;10079 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22375 |
| Ormat Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;18377 | &nbsp;&nbsp;&nbsp;&nbsp;1539258 |
| Orsted A/S (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;19511 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;840507 |
| RWE AG | &nbsp;&nbsp;&nbsp;&nbsp;73361 | &nbsp;&nbsp;&nbsp;&nbsp;3065625 |
| The AES Corp. | &nbsp;&nbsp;&nbsp;&nbsp;50265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;528788 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 143 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Independent power and renewable electricity<br> producers (continued)** | **Independent power and renewable electricity<br> producers (continued)** |  |
| Vistra Corp. | &nbsp;&nbsp;23959 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4643494 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;11595719 |
| **Multi-utilities – 0.7%** | **Multi-utilities – 0.7%** |  |
| Ameren Corp. | &nbsp;&nbsp;19083 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1832731 |
| Avista Corp. | &nbsp;&nbsp;11638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;441662 |
| Black Hills Corp. | &nbsp;&nbsp;22253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1248393 |
| CenterPoint Energy, Inc. | &nbsp;&nbsp;46086 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1693200 |
| Centrica PLC | 583190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1293965 |
| CMS Energy Corp. | &nbsp;&nbsp;21120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1463194 |
| Consolidated Edison, Inc. | &nbsp;&nbsp;25440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2552904 |
| Dominion Energy, Inc. | &nbsp;&nbsp;60211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3403126 |
| DTE Energy Company | &nbsp;&nbsp;14652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1940804 |
| E.ON SE | 260499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4799859 |
| Engie SA | 211923 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4980783 |
| National Grid PLC | 568208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8340531 |
| NiSource, Inc. | &nbsp;&nbsp;33236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1340740 |
| Northwestern Energy Group, Inc. | &nbsp;&nbsp;19008 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;975110 |
| Public Service Enterprise Group, Inc. | &nbsp;&nbsp;35232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2965830 |
| Sembcorp Industries, Ltd. | 103702 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;558652 |
| Sempra | &nbsp;&nbsp;46047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3488981 |
| Unitil Corp. | &nbsp;&nbsp;&nbsp;2560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133504 |
| Veolia Environnement SA | &nbsp;&nbsp;73047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2607916 |
| WEC Energy Group, Inc. | &nbsp;&nbsp;22533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2347939 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;48409824 |
| **Water utilities – 0.1%** | **Water utilities – 0.1%** |  |
| American States Water Company | &nbsp;&nbsp;&nbsp;5679 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;435352 |
| American Water Works Company, Inc. | &nbsp;&nbsp;13769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1915406 |
| Cadiz, Inc. (A) | &nbsp;&nbsp;&nbsp;9570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28614 |
| California Water Service Group | &nbsp;&nbsp;&nbsp;8916 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405500 |
| Consolidated Water Company, Ltd. | &nbsp;&nbsp;&nbsp;2371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71177 |
| Essential Utilities, Inc. | &nbsp;&nbsp;42108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1563891 |
| Global Water Resources, Inc. | &nbsp;&nbsp;&nbsp;2806 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28593 |
| H2O America | &nbsp;&nbsp;&nbsp;4666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;242492 |
| Middlesex Water Company | &nbsp;&nbsp;&nbsp;2734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148128 |
| Pure Cycle Corp. (A) | &nbsp;&nbsp;&nbsp;3747 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40168 |
| Severn Trent PLC | &nbsp;&nbsp;31349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1177849 |
| The York Water Company | &nbsp;&nbsp;&nbsp;2373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74987 |
| United Utilities Group PLC | &nbsp;&nbsp;79118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1242370 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7374527 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;190985551 |
| TOTAL COMMON STOCKS (Cost $3,039,138,753) | TOTAL COMMON STOCKS (Cost $3,039,138,753) | $6738975914 |
| **PREFERRED SECURITIES – 0.1%** |  |  |
| **Consumer discretionary – 0.1%** |  |  |
| **Automobiles – 0.1%** | **Automobiles – 0.1%** |  |
| Bayerische Motoren Werke AG | &nbsp;&nbsp;&nbsp;6495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;539383 |
| Dr. Ing. h.c. F. Porsche AG (B)(C) | &nbsp;&nbsp;13212 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;652989 |
| Porsche Automobil Holding SE | &nbsp;&nbsp;17768 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;705365 |
| Volkswagen AG | &nbsp;&nbsp;23926 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2529302 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4427039 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **PREFERRED SECURITIES (continued)** |  |  |
| **Consumer staples – 0.0%** |  |  |
| **Household products – 0.0%** | **Household products – 0.0%** |  |
| Henkel AG & Company KGaA | &nbsp;&nbsp;&nbsp;&nbsp;19638 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1543225 |
| **Health care – 0.0%** |  |  |
| **Life sciences tools and services – 0.0%** | **Life sciences tools and services – 0.0%** |  |
| Sartorius AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;774536 |
| TOTAL PREFERRED SECURITIES (Cost $8,503,052) | TOTAL PREFERRED SECURITIES (Cost $8,503,052) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6744800 |
| **RIGHTS – 0.0%** |  |  |
| Gen Digital, Inc. (Expiration Date: 4-17-27) (A)(E) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10037 |
| TOTAL RIGHTS (Cost $4,797) | TOTAL RIGHTS (Cost $4,797) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10037 |
| **WARRANTS – 0.0%** |  |  |
| Chord Energy Corp. (Expiration Date: 9-1-25; Strike Price: $133.70) (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;458 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;298 |
| Danimer Scientific, Inc. (Expiration Date: 7-15-25; Strike Price: $5.00) (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 |
| Nabors Industries, Ltd. (Expiration Date: 6-11-26; Strike Price: $166.67) (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;317 |
| TOTAL WARRANTS (Cost $5,036) | TOTAL WARRANTS (Cost $5,036) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;618 |
| **SHORT-TERM INVESTMENTS – 3.5%** | **SHORT-TERM INVESTMENTS – 3.5%** |  |
| **Short-term funds – 3.5%** |  |  |
| John Hancock Collateral Trust, 4.2596% (F)(G) | 24658646 | &nbsp;&nbsp;&nbsp;&nbsp;246645645 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $246,648,336) | TOTAL SHORT-TERM INVESTMENTS (Cost $246,648,336) | $&nbsp;&nbsp;&nbsp;&nbsp;246645645 |
| **Total Investments (Strategic Equity Allocation Trust)<br> (Cost $3,294,299,974) – 100.0%** | **Total Investments (Strategic Equity Allocation Trust)<br> (Cost $3,294,299,974) – 100.0%** | $**6992377014** |
| **Other assets and liabilities, net – (0.0%)** | **Other assets and liabilities, net – (0.0%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(970811)** |
| **TOTAL NET ASSETS – 100.0%** | **TOTAL NET ASSETS – 100.0%** | $**6991406203** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| ADR | American Depositary Receipt |
| CVR | Contingent Value Right |
| (A) | Non-income producing security. |
| (B) | This security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. |
| (C) | All or a portion of this security is on loan as of 6-30-25. |
| (D) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements. |
| (E) | Strike price and/or expiration date not available. |
| (F) | The rate shown is the annualized seven-day yield as of 6-30-25. |
| (G) | Investment is an affiliate of the fund, the advisor and/or subadvisor. A portion of this security represents the investment of cash collateral received for securities lending. Market value of this investment amounted to $46,913,494. |

---

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| MSCI EAFE Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;508 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;$66922724 | &nbsp;&nbsp;&nbsp;&nbsp;$68115180 | &nbsp;&nbsp;&nbsp;&nbsp;$1192456 |
| Russell 2000 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;124 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13390937 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13588540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197603 |
| S&P 500 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;454 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;137171248 | &nbsp;&nbsp;&nbsp;&nbsp;141960124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4788876 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 144 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued) FUTURES (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)**  |
| S&P Mid 400 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;$17547793 | &nbsp;&nbsp;&nbsp;&nbsp;$17815350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$267557 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$6446492** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

See Notes to financial statements regarding investment transactions and other derivatives information.

#### Total Stock Market Index Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS – 97.0%** | **COMMON STOCKS – 97.0%** |  |
| **Communication services – 9.1%** |  |  |
| **Diversified telecommunication services – 0.7%** | **Diversified telecommunication services – 0.7%** |  |
| Anterix, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;333 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8541 |
| AST SpaceMobile, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160144 |
| AT&T, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3446667 |
| Bandwidth, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;487 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7743 |
| Cogent Communications Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39629 |
| Frontier Communications Parent, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150478 |
| GCI Liberty, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Globalstar, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2114 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49785 |
| IDT Corp., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28080 |
| Iridium Communications, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1809 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54578 |
| Liberty Global, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2213 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22152 |
| Liberty Global, Ltd., Class C (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3408 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35136 |
| Liberty Latin America, Ltd., Class C (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2872 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17864 |
| Lumen Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73961 |
| Shenandoah Telecommunications Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14111 |
| Verizon Communications, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69832 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3021631 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7130500 |
| **Entertainment – 1.7%** | **Entertainment – 1.7%** |  |
| AMC Entertainment Holdings, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22484 |
| Atlanta Braves Holdings, Inc., Series A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9153 |
| Atlanta Braves Holdings, Inc., Series C (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;722 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33768 |
| Cinemark Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61054 |
| Electronic Arts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;683197 |
| Liberty Media Corp.-Liberty Formula One, Series A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53747 |
| Liberty Media Corp.-Liberty Formula One, Series C (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370975 |
| Liberty Media Corp.-Liberty Live, Series A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;477 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37912 |
| Liberty Media Corp.-Liberty Live, Series C (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83189 |
| Lionsgate Studios Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2801 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16274 |
| Live Nation Entertainment, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3827 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;578949 |
| Madison Square Garden Entertainment Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27579 |
| Madison Square Garden Sports Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67491 |
| Netflix, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7059 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9452919 |
| Reservoir Media, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1061 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8138 |
| ROBLOX Corp., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1081456 |
| Roku, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187733 |
| Sphere Entertainment Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20691 |
| Take-Two Interactive Software, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;711308 |
| The Marcus Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8261 |
| The Walt Disney Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3720920 |
| TKO Group Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246178 |
| Warner Brothers Discovery, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40773 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;467259 |

---

#### Total Stock Market Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Entertainment (continued)** | **Entertainment (continued)** |  |
| Warner Music Group Corp., Class A | &nbsp;&nbsp;2417 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65839 |
|  |  | 18016474 |
| **Interactive media and services – 5.7%** | **Interactive media and services – 5.7%** |  |
| Alphabet, Inc., Class A | 96055 | 16927772 |
| Alphabet, Inc., Class C | 91055 | 16152246 |
| Angi, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;883 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13475 |
| Bumble, Inc., Class A (A) | &nbsp;&nbsp;2124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13997 |
| CarGurus, Inc. (A) | &nbsp;&nbsp;1492 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49937 |
| Cars.com, Inc. (A) | &nbsp;&nbsp;1164 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13793 |
| EverQuote, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13299 |
| FuboTV, Inc. (A) | &nbsp;&nbsp;5719 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22075 |
| Getty Images Holdings, Inc. (A)(B) | &nbsp;&nbsp;7425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12326 |
| Grindr, Inc. (A) | &nbsp;&nbsp;2975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67533 |
| IAC, Inc. (A) | &nbsp;&nbsp;1350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50409 |
| Match Group, Inc. (A) | &nbsp;&nbsp;4138 | &nbsp;&nbsp;&nbsp;&nbsp;127823 |
| MediaAlpha, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10862 |
| Meta Platforms, Inc., Class A | 36104 | 26648001 |
| Nextdoor Holdings, Inc. (A) | &nbsp;&nbsp;5096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8459 |
| Pinterest, Inc., Class A (A) | &nbsp;&nbsp;9750 | &nbsp;&nbsp;&nbsp;&nbsp;349635 |
| QuinStreet, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15859 |
| Reddit, Inc., Class A (A) | &nbsp;&nbsp;2086 | &nbsp;&nbsp;&nbsp;&nbsp;314089 |
| Rumble, Inc. (A)(B) | &nbsp;&nbsp;5667 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50890 |
| Shutterstock, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11509 |
| Snap, Inc., Class A (A) | 23943 | &nbsp;&nbsp;&nbsp;&nbsp;208065 |
| Taboola.com, Ltd. (A) | &nbsp;&nbsp;5451 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19951 |
| TripAdvisor, Inc. (A) | &nbsp;&nbsp;2116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27614 |
| Trump Media & Technology Group Corp. (A) | &nbsp;&nbsp;3660 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66026 |
| Vimeo, Inc. (A) | &nbsp;&nbsp;2794 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11288 |
| Webtoon Entertainment, Inc. (A)(B) | &nbsp;&nbsp;2289 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20784 |
| Yelp, Inc. (A) | &nbsp;&nbsp;1072 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36737 |
| Ziff Davis, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;719 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21764 |
| ZipRecruiter, Inc., Class A (A) | &nbsp;&nbsp;1606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8046 |
| ZoomInfo Technologies, Inc. (A) | &nbsp;&nbsp;5704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57724 |
|  |  | 61351988 |
| **Media – 0.6%** | **Media – 0.6%** |  |
| Advantage Solutions, Inc. (A) | &nbsp;&nbsp;5215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6884 |
| Altice USA, Inc., Class A (A) | &nbsp;&nbsp;4902 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10490 |
| Boston Omaha Corp., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;726 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10193 |
| Cable One, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;95 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12902 |
| Charter Communications, Inc., Class A (A) | &nbsp;&nbsp;2356 | &nbsp;&nbsp;&nbsp;&nbsp;963156 |
| Clear Channel Outdoor Holdings, Inc. (A) | &nbsp;&nbsp;9814 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11482 |
| Comcast Corp., Class A | 62568 | &nbsp;&nbsp;&nbsp;2233052 |
| DoubleVerify Holdings, Inc. (A) | &nbsp;&nbsp;2860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42814 |
| EchoStar Corp., Class A (A) | &nbsp;&nbsp;2593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71826 |
| Fox Corp., Class A | &nbsp;&nbsp;3108 | &nbsp;&nbsp;&nbsp;&nbsp;174172 |
| Fox Corp., Class B | &nbsp;&nbsp;4445 | &nbsp;&nbsp;&nbsp;&nbsp;229495 |
| Gannett Company, Inc. (A) | &nbsp;&nbsp;2784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9967 |
| Gray Media, Inc. | &nbsp;&nbsp;1666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7547 |
| Ibotta, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17312 |
| Integral Ad Science Holding Corp. (A) | &nbsp;&nbsp;2865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23808 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 145 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Total Stock Market Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Media (continued)** | **Media (continued)** |  |
| John Wiley & Sons, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;763 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34053 |
| Liberty Broadband Corp., Series A (A) | &nbsp;&nbsp;&nbsp;&nbsp;414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40497 |
| Liberty Broadband Corp., Series C (A) | &nbsp;&nbsp;1940 | &nbsp;&nbsp;&nbsp;&nbsp;190857 |
| Magnite, Inc. (A) | &nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57888 |
| National CineMedia, Inc. | &nbsp;&nbsp;1733 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8396 |
| News Corp., Class A | &nbsp;&nbsp;5508 | &nbsp;&nbsp;&nbsp;&nbsp;163698 |
| News Corp., Class B | &nbsp;&nbsp;3775 | &nbsp;&nbsp;&nbsp;&nbsp;129520 |
| Nexstar Media Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86475 |
| Omnicom Group, Inc. | &nbsp;&nbsp;3241 | &nbsp;&nbsp;&nbsp;&nbsp;233158 |
| Paramount Global, Class B (B) | 10470 | &nbsp;&nbsp;&nbsp;&nbsp;135063 |
| PubMatic, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;845 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10512 |
| Scholastic Corp. | &nbsp;&nbsp;&nbsp;&nbsp;544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11413 |
| Sinclair, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;763 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10545 |
| Sirius XM Holdings, Inc. | &nbsp;&nbsp;5625 | &nbsp;&nbsp;&nbsp;&nbsp;129206 |
| Stagwell, Inc. (A) | &nbsp;&nbsp;2253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10139 |
| TEGNA, Inc. | &nbsp;&nbsp;2597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43526 |
| The Interpublic Group of Companies, Inc. | &nbsp;&nbsp;6129 | &nbsp;&nbsp;&nbsp;&nbsp;150038 |
| The New York Times Company, Class A | &nbsp;&nbsp;2697 | &nbsp;&nbsp;&nbsp;&nbsp;150978 |
| The Trade Desk, Inc., Class A (A) | &nbsp;&nbsp;7518 | &nbsp;&nbsp;&nbsp;&nbsp;541221 |
| Thryv Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;851 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10348 |
| WideOpenWest, Inc. (A) | &nbsp;&nbsp;1774 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7202 |
|  |  | &nbsp;&nbsp;&nbsp;5979833 |
| **Wireless telecommunication services – 0.4%** | **Wireless telecommunication services – 0.4%** |  |
| Gogo, Inc. (A) | &nbsp;&nbsp;2218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32560 |
| Spok Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;451 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7974 |
| Telephone & Data Systems, Inc. | &nbsp;&nbsp;1782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63404 |
| T-Mobile US, Inc. | 18958 | &nbsp;&nbsp;&nbsp;4516933 |
| United States Cellular Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;876 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56038 |
|  |  | &nbsp;&nbsp;&nbsp;4676909 |
|  |  | 97155704 |
| **Consumer discretionary – 10.4%** |  |  |
| **Automobile components – 0.1%** | **Automobile components – 0.1%** |  |
| Adient PLC (A) | &nbsp;&nbsp;1494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29073 |
| American Axle & Manufacturing Holdings, Inc. (A) | &nbsp;&nbsp;2443 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9967 |
| Autoliv, Inc. | &nbsp;&nbsp;1289 | &nbsp;&nbsp;&nbsp;&nbsp;144239 |
| BorgWarner, Inc. | &nbsp;&nbsp;3624 | &nbsp;&nbsp;&nbsp;&nbsp;121332 |
| Cooper-Standard Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;367 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7891 |
| Dana, Inc. | &nbsp;&nbsp;2456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42120 |
| Dorman Products, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;514 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63052 |
| Fox Factory Holding Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;737 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19118 |
| Gentex Corp. | &nbsp;&nbsp;3815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83892 |
| Gentherm, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15758 |
| LCI Industries | &nbsp;&nbsp;&nbsp;&nbsp;430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39212 |
| Lear Corp. | &nbsp;&nbsp;&nbsp;&nbsp;888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84342 |
| Mobileye Global, Inc., Class A (A) | &nbsp;&nbsp;1699 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30548 |
| Modine Manufacturing Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;874 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86089 |
| Patrick Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;568 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52409 |
| PHINIA, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30520 |
| QuantumScape Corp. (A) | &nbsp;&nbsp;8540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57389 |
| Solid Power, Inc. (A) | &nbsp;&nbsp;3732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8173 |
| Standard Motor Products, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13271 |
| The Goodyear Tire & Rubber Company (A) | &nbsp;&nbsp;4746 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49216 |
| Visteon Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;457 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42638 |
| XPEL, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17914 |
|  |  | &nbsp;&nbsp;&nbsp;1048163 |
| **Automobiles – 1.8%** | **Automobiles – 1.8%** |  |
| Ford Motor Company | 64656 | &nbsp;&nbsp;&nbsp;&nbsp;701518 |
| General Motors Company | 16494 | &nbsp;&nbsp;&nbsp;&nbsp;811670 |
| Harley-Davidson, Inc. | &nbsp;&nbsp;2055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48498 |
| Lucid Group, Inc. (A)(B) | 50533 | &nbsp;&nbsp;&nbsp;&nbsp;106625 |
| Rivian Automotive, Inc., Class A (A) | 18678 | &nbsp;&nbsp;&nbsp;&nbsp;256636 |
| Tesla, Inc. (A) | 53115 | 16872511 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Automobiles (continued)** | **Automobiles (continued)** |  |
| Thor Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;891 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79130 |
| Winnebago Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14587 |
|  |  | 18891175 |
| **Broadline retail – 3.7%** | **Broadline retail – 3.7%** |  |
| Amazon.com, Inc. (A) | 175035 | 38400929 |
| Coupang, Inc. (A) | &nbsp;&nbsp;27397 | &nbsp;&nbsp;&nbsp;&nbsp;820814 |
| Dillard's, Inc., Class A (B) | &nbsp;&nbsp;&nbsp;&nbsp;204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85237 |
| eBay, Inc. | &nbsp;&nbsp;&nbsp;7678 | &nbsp;&nbsp;&nbsp;&nbsp;571704 |
| Etsy, Inc. (A) | &nbsp;&nbsp;&nbsp;1774 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88984 |
| Groupon, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22612 |
| Kohl's Corp. (B) | &nbsp;&nbsp;&nbsp;1905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16154 |
| Macy's, Inc. | &nbsp;&nbsp;&nbsp;4578 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53379 |
| Ollie's Bargain Outlet Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;1019 | &nbsp;&nbsp;&nbsp;&nbsp;134284 |
| Savers Value Village, Inc. (A) | &nbsp;&nbsp;&nbsp;2751 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28060 |
|  |  | 40222157 |
| **Distributors – 0.1%** | **Distributors – 0.1%** |  |
| A-Mark Precious Metals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9094 |
| Genuine Parts Company | &nbsp;&nbsp;&nbsp;2309 | &nbsp;&nbsp;&nbsp;&nbsp;280105 |
| LKQ Corp. | &nbsp;&nbsp;&nbsp;4312 | &nbsp;&nbsp;&nbsp;&nbsp;159587 |
| Pool Corp. | &nbsp;&nbsp;&nbsp;&nbsp;626 | &nbsp;&nbsp;&nbsp;&nbsp;182466 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;631252 |
| **Diversified consumer services – 0.1%** | **Diversified consumer services – 0.1%** |  |
| ADT, Inc. | &nbsp;&nbsp;13674 | &nbsp;&nbsp;&nbsp;&nbsp;115819 |
| Adtalem Global Education, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;619 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78755 |
| American Public Education, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;321 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9778 |
| Bright Horizons Family Solutions, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;956 | &nbsp;&nbsp;&nbsp;&nbsp;118152 |
| Carriage Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;304 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13905 |
| Coursera, Inc. (A) | &nbsp;&nbsp;&nbsp;2862 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25071 |
| Duolingo, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;629 | &nbsp;&nbsp;&nbsp;&nbsp;257903 |
| European Wax Center, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;1009 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5681 |
| frontdoor, Inc. (A) | &nbsp;&nbsp;&nbsp;1250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73675 |
| Graham Holdings Company, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54878 |
| Grand Canyon Education, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90342 |
| H&R Block, Inc. | &nbsp;&nbsp;&nbsp;2216 | &nbsp;&nbsp;&nbsp;&nbsp;121636 |
| ITT Educational Services, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Laureate Education, Inc. (A) | &nbsp;&nbsp;&nbsp;2562 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59900 |
| Lincoln Educational Services Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;632 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14568 |
| Matthews International Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;612 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14633 |
| Mister Car Wash, Inc. (A) | &nbsp;&nbsp;&nbsp;5522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33187 |
| Perdoceo Education Corp. | &nbsp;&nbsp;&nbsp;1121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36645 |
| Service Corp. International | &nbsp;&nbsp;&nbsp;2399 | &nbsp;&nbsp;&nbsp;&nbsp;195279 |
| Strategic Education, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35755 |
| Stride, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;724 | &nbsp;&nbsp;&nbsp;&nbsp;105118 |
| Udemy, Inc. (A) | &nbsp;&nbsp;&nbsp;2657 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18679 |
| Universal Technical Institute, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;916 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31043 |
|  |  | &nbsp;&nbsp;&nbsp;1510402 |
| **Hotels, restaurants and leisure – 2.1%** | **Hotels, restaurants and leisure – 2.1%** |  |
| Accel Entertainment, Inc. (A) | &nbsp;&nbsp;&nbsp;1621 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19079 |
| Airbnb, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;7185 | &nbsp;&nbsp;&nbsp;&nbsp;950863 |
| Ambassadors Group, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29 |
| Aramark | &nbsp;&nbsp;&nbsp;4388 | &nbsp;&nbsp;&nbsp;&nbsp;183726 |
| BJ's Restaurants, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;401 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17885 |
| Bloomin' Brands, Inc. | &nbsp;&nbsp;&nbsp;1566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13483 |
| Booking Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;530 | &nbsp;&nbsp;&nbsp;3068297 |
| Boyd Gaming Corp. | &nbsp;&nbsp;&nbsp;1360 | &nbsp;&nbsp;&nbsp;&nbsp;106393 |
| Brinker International, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;735 | &nbsp;&nbsp;&nbsp;&nbsp;132543 |
| Caesars Entertainment, Inc. (A) | &nbsp;&nbsp;&nbsp;3500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99365 |
| Carnival Corp. (A) | &nbsp;&nbsp;19280 | &nbsp;&nbsp;&nbsp;&nbsp;542154 |
| Cava Group, Inc. (A) | &nbsp;&nbsp;&nbsp;1918 | &nbsp;&nbsp;&nbsp;&nbsp;161553 |
| Chipotle Mexican Grill, Inc. (A) | &nbsp;&nbsp;22496 | &nbsp;&nbsp;&nbsp;1263150 |
| Choice Hotels International, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;772 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97951 |
| Churchill Downs, Inc. | &nbsp;&nbsp;&nbsp;1212 | &nbsp;&nbsp;&nbsp;&nbsp;122412 |
| Cracker Barrel Old Country Store, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23210 |
| Darden Restaurants, Inc. | &nbsp;&nbsp;&nbsp;1939 | &nbsp;&nbsp;&nbsp;&nbsp;422644 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 146 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Total Stock Market Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Hotels, restaurants and leisure (continued)** | **Hotels, restaurants and leisure (continued)** |  |
| Dave & Buster's Entertainment, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;665 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20003 |
| Denny's Corp. (A) | &nbsp;&nbsp;1371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5621 |
| Dine Brands Global, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6934 |
| Domino's Pizza, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;526 | &nbsp;&nbsp;&nbsp;&nbsp;237016 |
| DoorDash, Inc., Class A (A) | &nbsp;&nbsp;6549 | &nbsp;&nbsp;&nbsp;1614394 |
| DraftKings, Inc., Class A (A) | &nbsp;&nbsp;8127 | &nbsp;&nbsp;&nbsp;&nbsp;348567 |
| Dutch Bros, Inc., Class A (A) | &nbsp;&nbsp;1931 | &nbsp;&nbsp;&nbsp;&nbsp;132022 |
| El Pollo Loco Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;712 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7839 |
| Everi Holdings, Inc. (A) | &nbsp;&nbsp;1478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21047 |
| Expedia Group, Inc. | &nbsp;&nbsp;2042 | &nbsp;&nbsp;&nbsp;&nbsp;344445 |
| First Watch Restaurant Group, Inc. (A) | &nbsp;&nbsp;1058 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16970 |
| Global Business Travel Group I (A) | &nbsp;&nbsp;8247 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51956 |
| Golden Entertainment, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14950 |
| Hilton Grand Vacations, Inc. (A) | &nbsp;&nbsp;1644 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68275 |
| Hilton Worldwide Holdings, Inc. | &nbsp;&nbsp;3859 | &nbsp;&nbsp;&nbsp;1027806 |
| Hyatt Hotels Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97755 |
| Jack in the Box, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;354 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6181 |
| Krispy Kreme, Inc. | &nbsp;&nbsp;3050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8876 |
| Kura Sushi USA, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16872 |
| Las Vegas Sands Corp. | 11884 | &nbsp;&nbsp;&nbsp;&nbsp;517073 |
| Life Time Group Holdings, Inc. (A) | &nbsp;&nbsp;3489 | &nbsp;&nbsp;&nbsp;&nbsp;105821 |
| Light & Wonder, Inc. (A) | &nbsp;&nbsp;1403 | &nbsp;&nbsp;&nbsp;&nbsp;135053 |
| Lindblad Expeditions Holdings, Inc. (A) | &nbsp;&nbsp;1040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12137 |
| Lucky Strike Entertainment Corp. (B) | &nbsp;&nbsp;1554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14188 |
| Marriott International, Inc., Class A | &nbsp;&nbsp;4574 | &nbsp;&nbsp;&nbsp;1249663 |
| Marriott Vacations Worldwide Corp. | &nbsp;&nbsp;&nbsp;&nbsp;574 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41506 |
| McDonald's Corp. | 11862 | &nbsp;&nbsp;&nbsp;3465721 |
| MGM Resorts International (A) | &nbsp;&nbsp;4699 | &nbsp;&nbsp;&nbsp;&nbsp;161599 |
| Monarch Casino & Resort, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28179 |
| Nathan's Famous, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;66 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7298 |
| Norwegian Cruise Line Holdings, Ltd. (A) | &nbsp;&nbsp;7269 | &nbsp;&nbsp;&nbsp;&nbsp;147415 |
| Papa John's International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27064 |
| Penn Entertainment, Inc. (A) | &nbsp;&nbsp;2536 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45318 |
| Planet Fitness, Inc., Class A (A) | &nbsp;&nbsp;1396 | &nbsp;&nbsp;&nbsp;&nbsp;152234 |
| PlayAGS, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;719 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8980 |
| Portillo's, Inc., Class A (A) | &nbsp;&nbsp;1111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12965 |
| Potbelly Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7436 |
| Pursuit Attractions and Hospitality, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15020 |
| RCI Hospitality Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6938 |
| Red Rock Resorts, Inc., Class A | &nbsp;&nbsp;1005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52290 |
| Restaurant Brands International LP | &nbsp;&nbsp;&nbsp;&nbsp;82 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5394 |
| Royal Caribbean Cruises, Ltd. | &nbsp;&nbsp;4465 | &nbsp;&nbsp;&nbsp;1398170 |
| Rush Street Interactive, Inc. (A) | &nbsp;&nbsp;1505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22425 |
| Sabre Corp. (A) | &nbsp;&nbsp;6700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21172 |
| Serve Robotics, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;835 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9552 |
| Shake Shack, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93499 |
| Six Flags Entertainment Corp. (A) | &nbsp;&nbsp;1664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50636 |
| Soho House & Company, Inc. (A) | &nbsp;&nbsp;1085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7975 |
| Starbucks Corp. | 18855 | &nbsp;&nbsp;&nbsp;1727684 |
| Sweetgreen, Inc., Class A (A) | &nbsp;&nbsp;1759 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26174 |
| Target Hospitality Corp. (A) | &nbsp;&nbsp;1791 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12752 |
| Texas Roadhouse, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;924 | &nbsp;&nbsp;&nbsp;&nbsp;173167 |
| The Cheesecake Factory, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;841 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52697 |
| The Wendy's Company | &nbsp;&nbsp;3283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37492 |
| Travel + Leisure Company | &nbsp;&nbsp;1073 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55378 |
| United Parks & Resorts, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42388 |
| Vail Resorts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97106 |
| Viking Holdings, Ltd. (A) | &nbsp;&nbsp;5057 | &nbsp;&nbsp;&nbsp;&nbsp;269488 |
| Wingstop, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;476 | &nbsp;&nbsp;&nbsp;&nbsp;160288 |
| Wyndham Hotels & Resorts, Inc. | &nbsp;&nbsp;1276 | &nbsp;&nbsp;&nbsp;&nbsp;103624 |
| Wynn Resorts, Ltd. | &nbsp;&nbsp;1761 | &nbsp;&nbsp;&nbsp;&nbsp;164953 |
| Yum! Brands, Inc. | &nbsp;&nbsp;4510 | &nbsp;&nbsp;&nbsp;&nbsp;668292 |
|  |  | 22686470 |
| **Household durables – 0.3%** | **Household durables – 0.3%** |  |
| Beazer Homes USA, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12661 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Household durables (continued)** | **Household durables (continued)** |  |
| Cavco Industries, Inc. (A) | &nbsp;&nbsp;135 | $&nbsp;&nbsp;&nbsp;&nbsp;58648 |
| Century Communities, Inc. | &nbsp;&nbsp;521 | &nbsp;&nbsp;&nbsp;&nbsp;29343 |
| Champion Homes, Inc. (A) | &nbsp;&nbsp;957 | &nbsp;&nbsp;&nbsp;&nbsp;59918 |
| Cricut, Inc., Class A | &nbsp;&nbsp;884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5985 |
| D.R. Horton, Inc. | 5232 | &nbsp;&nbsp;&nbsp;&nbsp;674509 |
| Dream Finders Homes, Inc., Class A (A) | &nbsp;&nbsp;636 | &nbsp;&nbsp;&nbsp;&nbsp;15983 |
| Ethan Allen Interiors, Inc. | &nbsp;&nbsp;516 | &nbsp;&nbsp;&nbsp;&nbsp;14371 |
| Green Brick Partners, Inc. (A) | &nbsp;&nbsp;752 | &nbsp;&nbsp;&nbsp;&nbsp;47286 |
| Hamilton Beach Brands Holding Company, Class B | &nbsp;&nbsp;241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4311 |
| Helen of Troy, Ltd. (A) | &nbsp;&nbsp;395 | &nbsp;&nbsp;&nbsp;&nbsp;11210 |
| Hovnanian Enterprises, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;92 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9619 |
| Installed Building Products, Inc. | &nbsp;&nbsp;470 | &nbsp;&nbsp;&nbsp;&nbsp;84750 |
| KB Home | 1174 | &nbsp;&nbsp;&nbsp;&nbsp;62187 |
| La-Z-Boy, Inc. | &nbsp;&nbsp;724 | &nbsp;&nbsp;&nbsp;&nbsp;26911 |
| Legacy Housing Corp. (A) | &nbsp;&nbsp;492 | &nbsp;&nbsp;&nbsp;&nbsp;11149 |
| Leggett & Platt, Inc. | 2466 | &nbsp;&nbsp;&nbsp;&nbsp;21997 |
| Lennar Corp., Class A | 3941 | &nbsp;&nbsp;&nbsp;&nbsp;435914 |
| LGI Homes, Inc. (A) | &nbsp;&nbsp;412 | &nbsp;&nbsp;&nbsp;&nbsp;21226 |
| M/I Homes, Inc. (A) | &nbsp;&nbsp;449 | &nbsp;&nbsp;&nbsp;&nbsp;50342 |
| Meritage Homes Corp. | 1176 | &nbsp;&nbsp;&nbsp;&nbsp;78757 |
| Mohawk Industries, Inc. (A) | 1040 | &nbsp;&nbsp;&nbsp;&nbsp;109034 |
| Newell Brands, Inc. | 7035 | &nbsp;&nbsp;&nbsp;&nbsp;37989 |
| NVR, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;369283 |
| PulteGroup, Inc. | 3335 | &nbsp;&nbsp;&nbsp;&nbsp;351709 |
| SharkNinja, Inc. (A) | 2337 | &nbsp;&nbsp;&nbsp;&nbsp;231340 |
| Somnigroup International, Inc. | 3315 | &nbsp;&nbsp;&nbsp;&nbsp;225586 |
| Sonos, Inc. (A) | 2114 | &nbsp;&nbsp;&nbsp;&nbsp;22852 |
| Taylor Morrison Home Corp. (A) | 1678 | &nbsp;&nbsp;&nbsp;&nbsp;103063 |
| The Lovesac Company (A) | &nbsp;&nbsp;315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5733 |
| Toll Brothers, Inc. | 1635 | &nbsp;&nbsp;&nbsp;&nbsp;186603 |
| TopBuild Corp. (A) | &nbsp;&nbsp;486 | &nbsp;&nbsp;&nbsp;&nbsp;157338 |
| Tri Pointe Homes, Inc. (A) | 1588 | &nbsp;&nbsp;&nbsp;&nbsp;50737 |
| Whirlpool Corp. | &nbsp;&nbsp;928 | &nbsp;&nbsp;&nbsp;&nbsp;94118 |
|  |  | 3682462 |
| **Leisure products – 0.1%** | **Leisure products – 0.1%** |  |
| Acushnet Holdings Corp. | 1012 | &nbsp;&nbsp;&nbsp;&nbsp;73694 |
| Brunswick Corp. | 1102 | &nbsp;&nbsp;&nbsp;&nbsp;60874 |
| Hasbro, Inc. | 2316 | &nbsp;&nbsp;&nbsp;&nbsp;170967 |
| Latham Group, Inc. (A) | 2044 | &nbsp;&nbsp;&nbsp;&nbsp;13041 |
| Malibu Boats, Inc., Class A (A) | &nbsp;&nbsp;386 | &nbsp;&nbsp;&nbsp;&nbsp;12097 |
| Mattel, Inc. (A) | 5501 | &nbsp;&nbsp;&nbsp;&nbsp;108480 |
| Peloton Interactive, Inc., Class A (A) | 6270 | &nbsp;&nbsp;&nbsp;&nbsp;43514 |
| Polaris, Inc. | &nbsp;&nbsp;951 | &nbsp;&nbsp;&nbsp;&nbsp;38658 |
| Smith & Wesson Brands, Inc. | &nbsp;&nbsp;894 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7760 |
| Sturm Ruger & Company, Inc. | &nbsp;&nbsp;332 | &nbsp;&nbsp;&nbsp;&nbsp;11919 |
| Topgolf Callaway Brands Corp. (A) | 3227 | &nbsp;&nbsp;&nbsp;&nbsp;25977 |
| YETI Holdings, Inc. (A) | 1377 | &nbsp;&nbsp;&nbsp;&nbsp;43403 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;610384 |
| **Specialty retail – 1.8%** | **Specialty retail – 1.8%** |  |
| Abercrombie & Fitch Company, Class A (A) | &nbsp;&nbsp;835 | &nbsp;&nbsp;&nbsp;&nbsp;69180 |
| Academy Sports & Outdoors, Inc. | 1152 | &nbsp;&nbsp;&nbsp;&nbsp;51621 |
| Advance Auto Parts, Inc. | 1001 | &nbsp;&nbsp;&nbsp;&nbsp;46536 |
| American Eagle Outfitters, Inc. | 3157 | &nbsp;&nbsp;&nbsp;&nbsp;30370 |
| America's Car-Mart, Inc. (A) | &nbsp;&nbsp;161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9022 |
| Arhaus, Inc. (A) | &nbsp;&nbsp;963 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8349 |
| Arko Corp. | 2432 | &nbsp;&nbsp;&nbsp;&nbsp;10287 |
| Asbury Automotive Group, Inc. (A) | &nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp;&nbsp;77526 |
| AutoNation, Inc. (A) | &nbsp;&nbsp;637 | &nbsp;&nbsp;&nbsp;&nbsp;126540 |
| AutoZone, Inc. (A) | &nbsp;&nbsp;274 | 1017151 |
| Barnes & Noble Education, Inc. (A) | &nbsp;&nbsp;538 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6332 |
| Bath & Body Works, Inc. | 3591 | &nbsp;&nbsp;&nbsp;&nbsp;107586 |
| Best Buy Company, Inc. | 3544 | &nbsp;&nbsp;&nbsp;&nbsp;237909 |
| Beyond, Inc. (A) | &nbsp;&nbsp;999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6873 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 147 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Total Stock Market Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Specialty retail (continued)** | **Specialty retail (continued)** |  |
| Boot Barn Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;508 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77216 |
| Build-A-Bear Workshop, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;239 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12323 |
| Burlington Stores, Inc. (A) | &nbsp;&nbsp;1052 | &nbsp;&nbsp;&nbsp;&nbsp;244737 |
| Caleres, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7149 |
| Camping World Holdings, Inc., Class A | &nbsp;&nbsp;1018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17499 |
| CarMax, Inc. (A) | &nbsp;&nbsp;2547 | &nbsp;&nbsp;&nbsp;&nbsp;171184 |
| Carvana Company (A) | &nbsp;&nbsp;2226 | &nbsp;&nbsp;&nbsp;&nbsp;750073 |
| Chewy, Inc., Class A (A) | &nbsp;&nbsp;2696 | &nbsp;&nbsp;&nbsp;&nbsp;114904 |
| Citi Trends, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6578 |
| Dick's Sporting Goods, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;960 | &nbsp;&nbsp;&nbsp;&nbsp;189898 |
| EVgo, Inc. (A) | &nbsp;&nbsp;2340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8541 |
| Five Below, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;920 | &nbsp;&nbsp;&nbsp;&nbsp;120686 |
| Floor & Decor Holdings, Inc., Class A (A) | &nbsp;&nbsp;1786 | &nbsp;&nbsp;&nbsp;&nbsp;135665 |
| Foot Locker, Inc. (A) | &nbsp;&nbsp;1586 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38857 |
| GameStop Corp., Class A (A)(B) | &nbsp;&nbsp;7429 | &nbsp;&nbsp;&nbsp;&nbsp;181193 |
| Group 1 Automotive, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95203 |
| Guess?, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;937 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11328 |
| Haverty Furniture Companies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6756 |
| Lithia Motors, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;434 | &nbsp;&nbsp;&nbsp;&nbsp;146614 |
| Lowe's Companies, Inc. | &nbsp;&nbsp;9355 | &nbsp;&nbsp;&nbsp;2075594 |
| MarineMax, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10911 |
| Monro, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;559 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8335 |
| Murphy USA, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;331 | &nbsp;&nbsp;&nbsp;&nbsp;134651 |
| National Vision Holdings, Inc. (A) | &nbsp;&nbsp;1383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31823 |
| O'Reilly Automotive, Inc. (A) | 14370 | &nbsp;&nbsp;&nbsp;1295168 |
| Penske Automotive Group, Inc. | &nbsp;&nbsp;1122 | &nbsp;&nbsp;&nbsp;&nbsp;192771 |
| Petco Health & Wellness Company, Inc. (A) | &nbsp;&nbsp;4123 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11668 |
| Revolve Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;687 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13774 |
| RH (A) | &nbsp;&nbsp;&nbsp;&nbsp;309 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58404 |
| Ross Stores, Inc. | &nbsp;&nbsp;5469 | &nbsp;&nbsp;&nbsp;&nbsp;697735 |
| Sally Beauty Holdings, Inc. (A) | &nbsp;&nbsp;1771 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16399 |
| Shoe Carnival, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9411 |
| Signet Jewelers, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;721 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57356 |
| Sonic Automotive, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;367 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29334 |
| Stitch Fix, Inc., Class A (A) | &nbsp;&nbsp;1969 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7285 |
| The Buckle, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;851 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38593 |
| The Gap, Inc. | &nbsp;&nbsp;6256 | &nbsp;&nbsp;&nbsp;&nbsp;136443 |
| The Home Depot, Inc. | 16497 | &nbsp;&nbsp;&nbsp;6048460 |
| The ODP Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;579 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10497 |
| The RealReal, Inc. (A) | &nbsp;&nbsp;1902 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9111 |
| The TJX Companies, Inc. | 18535 | &nbsp;&nbsp;&nbsp;2288887 |
| Torrid Holdings, Inc. (A)(B) | &nbsp;&nbsp;1867 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5508 |
| Tractor Supply Company | &nbsp;&nbsp;8826 | &nbsp;&nbsp;&nbsp;&nbsp;465748 |
| Ulta Beauty, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;769 | &nbsp;&nbsp;&nbsp;&nbsp;359754 |
| Upbound Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24498 |
| Urban Outfitters, Inc. (A) | &nbsp;&nbsp;1533 | &nbsp;&nbsp;&nbsp;&nbsp;111204 |
| Valvoline, Inc. (A) | &nbsp;&nbsp;2109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79868 |
| Victoria's Secret & Company (A) | &nbsp;&nbsp;1317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24391 |
| Warby Parker, Inc., Class A (A) | &nbsp;&nbsp;1765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38706 |
| Wayfair, Inc., Class A (A) | &nbsp;&nbsp;1703 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87091 |
| Williams-Sonoma, Inc. | &nbsp;&nbsp;2042 | &nbsp;&nbsp;&nbsp;&nbsp;333602 |
| Winmark Corp. | &nbsp;&nbsp;&nbsp;&nbsp;63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23789 |
| Zumiez, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5596 |
|  |  | 18884051 |
| **Textiles, apparel and luxury goods – 0.3%** | **Textiles, apparel and luxury goods – 0.3%** |  |
| Carter's, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18349 |
| Columbia Sportswear Company | &nbsp;&nbsp;&nbsp;&nbsp;932 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56927 |
| Crocs, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93988 |
| Deckers Outdoor Corp. (A) | &nbsp;&nbsp;2518 | &nbsp;&nbsp;&nbsp;&nbsp;259530 |
| Figs, Inc., Class A (A) | &nbsp;&nbsp;2735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15425 |
| G-III Apparel Group, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;746 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16710 |
| Hanesbrands, Inc. (A) | &nbsp;&nbsp;6109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27979 |
| Kontoor Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;926 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61088 |
| Levi Strauss & Company, Class A | &nbsp;&nbsp;1767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32672 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Textiles, apparel and luxury goods (continued)** | **Textiles, apparel and luxury goods (continued)** |  |
| Lululemon Athletica, Inc. (A) | &nbsp;&nbsp;&nbsp;1936 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;459955 |
| Movado Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;413 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6298 |
| NIKE, Inc., Class B | &nbsp;&nbsp;19616 | &nbsp;&nbsp;&nbsp;&nbsp;1393521 |
| Oxford Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;267 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10747 |
| PVH Corp. | &nbsp;&nbsp;&nbsp;&nbsp;919 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63043 |
| Ralph Lauren Corp. | &nbsp;&nbsp;&nbsp;&nbsp;557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152774 |
| Skechers USA, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;2179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137495 |
| Steven Madden, Ltd. | &nbsp;&nbsp;&nbsp;1228 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29447 |
| Tapestry, Inc. | &nbsp;&nbsp;&nbsp;3206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;281519 |
| Under Armour, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;2144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14644 |
| Under Armour, Inc., Class C (A) | &nbsp;&nbsp;&nbsp;4718 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30620 |
| VF Corp. | &nbsp;&nbsp;&nbsp;6505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76434 |
| Wolverine World Wide, Inc. | &nbsp;&nbsp;&nbsp;1388 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25095 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;3264260 |
|  |  | 111430776 |
| **Consumer staples – 5.6%** |  |  |
| **Beverages – 1.1%** | **Beverages – 1.1%** |  |
| Brown-Forman Corp., Class A | &nbsp;&nbsp;&nbsp;3211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88206 |
| Brown-Forman Corp., Class B | &nbsp;&nbsp;&nbsp;4719 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126988 |
| Celsius Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;3901 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180967 |
| Coca-Cola Consolidated, Inc. | &nbsp;&nbsp;&nbsp;1280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142912 |
| Constellation Brands, Inc., Class A | &nbsp;&nbsp;&nbsp;2994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;487064 |
| Keurig Dr. Pepper, Inc. | &nbsp;&nbsp;22487 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;743420 |
| MGP Ingredients, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11538 |
| Molson Coors Beverage Company, Class B | &nbsp;&nbsp;&nbsp;3135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150762 |
| Monster Beverage Corp. (A) | &nbsp;&nbsp;16134 | &nbsp;&nbsp;&nbsp;&nbsp;1010634 |
| National Beverage Corp. (A) | &nbsp;&nbsp;&nbsp;1607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69487 |
| PepsiCo, Inc. | &nbsp;&nbsp;22550 | &nbsp;&nbsp;&nbsp;&nbsp;2977502 |
| Primo Brands Corp. | &nbsp;&nbsp;&nbsp;2229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66023 |
| The Boston Beer Company, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;151 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28812 |
| The Coca-Cola Company | &nbsp;&nbsp;71399 | &nbsp;&nbsp;&nbsp;&nbsp;5051479 |
| The Vita Coco Company, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;957 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34548 |
|  |  | &nbsp;&nbsp;&nbsp;11170342 |
| **Consumer staples distribution and retail – 2.4%** | **Consumer staples distribution and retail – 2.4%** |  |
| Albertsons Companies, Inc., Class A | &nbsp;&nbsp;&nbsp;9586 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206195 |
| BJ's Wholesale Club Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;2189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236040 |
| Casey's General Stores, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;313816 |
| Costco Wholesale Corp. | &nbsp;&nbsp;&nbsp;7369 | &nbsp;&nbsp;&nbsp;&nbsp;7294868 |
| Dollar General Corp. | &nbsp;&nbsp;&nbsp;3650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;417487 |
| Dollar Tree, Inc. (A) | &nbsp;&nbsp;&nbsp;3572 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;353771 |
| Grocery Outlet Holding Corp. (A) | &nbsp;&nbsp;&nbsp;1660 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20617 |
| Ingles Markets, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16415 |
| Maplebear, Inc. (A) | &nbsp;&nbsp;&nbsp;4261 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192768 |
| Natural Grocers by Vitamin Cottage, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;407 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15975 |
| Performance Food Group Company (A) | &nbsp;&nbsp;&nbsp;2569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;224710 |
| PriceSmart, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54621 |
| SpartanNash Company | &nbsp;&nbsp;&nbsp;&nbsp;628 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16636 |
| Sprouts Farmers Market, Inc. (A) | &nbsp;&nbsp;&nbsp;1634 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269022 |
| Sysco Corp. | &nbsp;&nbsp;&nbsp;7896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;598043 |
| Target Corp. | &nbsp;&nbsp;&nbsp;7600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;749740 |
| The Andersons, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;599 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22013 |
| The Chefs' Warehouse, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42625 |
| The Kroger Company | &nbsp;&nbsp;11989 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;859971 |
| U.S. Foods Holding Corp. (A) | &nbsp;&nbsp;&nbsp;3359 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;258677 |
| United Natural Foods, Inc. (A) | &nbsp;&nbsp;&nbsp;1010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23543 |
| Village Super Market, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6276 |
| Walgreens Boots Alliance, Inc. | &nbsp;&nbsp;14372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164991 |
| Walmart, Inc. | 133402 | &nbsp;&nbsp;&nbsp;13044048 |
| Weis Markets, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34070 |
|  |  | &nbsp;&nbsp;&nbsp;25436938 |
| **Food products – 0.6%** | **Food products – 0.6%** |  |
| Archer-Daniels-Midland Company | &nbsp;&nbsp;&nbsp;7964 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420340 |
| B&G Foods, Inc. (B) | &nbsp;&nbsp;&nbsp;1495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6324 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 148 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Total Stock Market Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Food products (continued)** | **Food products (continued)** |  |
| Beyond Meat, Inc. (A)(B) | &nbsp;&nbsp;1526 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5326 |
| Bunge Global SA | &nbsp;&nbsp;2216 | &nbsp;&nbsp;&nbsp;&nbsp;177900 |
| Calavo Growers, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;346 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 |
| Cal-Maine Foods, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;731 | &nbsp;&nbsp;&nbsp;&nbsp;72830 |
| Conagra Brands, Inc. | &nbsp;&nbsp;7887 | &nbsp;&nbsp;&nbsp;&nbsp;161447 |
| Darling Ingredients, Inc. (A) | &nbsp;&nbsp;2641 | &nbsp;&nbsp;&nbsp;&nbsp;100200 |
| Dole PLC | &nbsp;&nbsp;1669 | &nbsp;&nbsp;&nbsp;&nbsp;23349 |
| Flowers Foods, Inc. | &nbsp;&nbsp;3509 | &nbsp;&nbsp;&nbsp;&nbsp;56074 |
| Fresh Del Monte Produce, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;837 | &nbsp;&nbsp;&nbsp;&nbsp;27136 |
| Freshpet, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;813 | &nbsp;&nbsp;&nbsp;&nbsp;55251 |
| General Mills, Inc. | &nbsp;&nbsp;9137 | &nbsp;&nbsp;&nbsp;&nbsp;473388 |
| Hormel Foods Corp. | &nbsp;&nbsp;9175 | &nbsp;&nbsp;&nbsp;&nbsp;277544 |
| Ingredion, Inc. | &nbsp;&nbsp;1063 | &nbsp;&nbsp;&nbsp;&nbsp;144164 |
| J&J Snack Foods Corp. | &nbsp;&nbsp;&nbsp;&nbsp;331 | &nbsp;&nbsp;&nbsp;&nbsp;37539 |
| John B Sanfilippo & Son, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;170 | &nbsp;&nbsp;&nbsp;&nbsp;10751 |
| Kellanova | &nbsp;&nbsp;5427 | &nbsp;&nbsp;&nbsp;&nbsp;431609 |
| Lamb Weston Holdings, Inc. | &nbsp;&nbsp;2365 | &nbsp;&nbsp;&nbsp;&nbsp;122625 |
| Lancaster Colony Corp. | &nbsp;&nbsp;&nbsp;&nbsp;462 | &nbsp;&nbsp;&nbsp;&nbsp;79820 |
| Lifeway Foods, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;238 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5867 |
| McCormick & Company, Inc. | &nbsp;&nbsp;4195 | &nbsp;&nbsp;&nbsp;&nbsp;318065 |
| Mission Produce, Inc. (A) | &nbsp;&nbsp;1379 | &nbsp;&nbsp;&nbsp;&nbsp;16162 |
| Mondelez International, Inc., Class A | 21491 | 1449353 |
| Pilgrim's Pride Corp. | &nbsp;&nbsp;3960 | &nbsp;&nbsp;&nbsp;&nbsp;178121 |
| Post Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;929 | &nbsp;&nbsp;&nbsp;&nbsp;101289 |
| Seaboard Corp. | &nbsp;&nbsp;&nbsp;&nbsp;17 | &nbsp;&nbsp;&nbsp;&nbsp;48640 |
| Seneca Foods Corp., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;83 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8419 |
| SunOpta, Inc. (A) | &nbsp;&nbsp;2212 | &nbsp;&nbsp;&nbsp;&nbsp;12830 |
| The Campbell's Company | &nbsp;&nbsp;4945 | &nbsp;&nbsp;&nbsp;&nbsp;151564 |
| The Hershey Company | &nbsp;&nbsp;2455 | &nbsp;&nbsp;&nbsp;&nbsp;407407 |
| The J.M. Smucker Company | &nbsp;&nbsp;1762 | &nbsp;&nbsp;&nbsp;&nbsp;173028 |
| The Kraft Heinz Company | 19755 | &nbsp;&nbsp;&nbsp;&nbsp;510074 |
| The Simply Good Foods Company (A) | &nbsp;&nbsp;1695 | &nbsp;&nbsp;&nbsp;&nbsp;53545 |
| Tootsie Roll Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;787 | &nbsp;&nbsp;&nbsp;&nbsp;26325 |
| TreeHouse Foods, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;882 | &nbsp;&nbsp;&nbsp;&nbsp;17128 |
| Tyson Foods, Inc., Class A | &nbsp;&nbsp;4750 | &nbsp;&nbsp;&nbsp;&nbsp;265715 |
| Utz Brands, Inc. | &nbsp;&nbsp;1530 | &nbsp;&nbsp;&nbsp;&nbsp;19202 |
| Vital Farms, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;738 | &nbsp;&nbsp;&nbsp;&nbsp;28428 |
| Westrock Coffee Company (A)(B) | &nbsp;&nbsp;1497 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8578 |
| WK Kellogg Company (B) | &nbsp;&nbsp;1453 | &nbsp;&nbsp;&nbsp;&nbsp;23161 |
|  |  | 6515718 |
| **Household products – 0.8%** | **Household products – 0.8%** |  |
| Central Garden & Pet Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5558 |
| Central Garden & Pet Company, Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;953 | &nbsp;&nbsp;&nbsp;&nbsp;29819 |
| Church & Dwight Company, Inc. | &nbsp;&nbsp;4080 | &nbsp;&nbsp;&nbsp;&nbsp;392129 |
| Colgate-Palmolive Company | 12573 | 1142886 |
| Energizer Holdings, Inc. | &nbsp;&nbsp;1206 | &nbsp;&nbsp;&nbsp;&nbsp;24313 |
| Kimberly-Clark Corp. | &nbsp;&nbsp;5167 | &nbsp;&nbsp;&nbsp;&nbsp;666130 |
| Oil-Dri Corp. of America | &nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9733 |
| Reynolds Consumer Products, Inc. | &nbsp;&nbsp;3592 | &nbsp;&nbsp;&nbsp;&nbsp;76941 |
| Spectrum Brands Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;435 | &nbsp;&nbsp;&nbsp;&nbsp;23055 |
| The Clorox Company | &nbsp;&nbsp;1929 | &nbsp;&nbsp;&nbsp;&nbsp;231615 |
| The Procter & Gamble Company | 38946 | 6204877 |
| WD-40 Company | &nbsp;&nbsp;&nbsp;&nbsp;227 | &nbsp;&nbsp;&nbsp;&nbsp;51776 |
|  |  | 8858832 |
| **Personal care products – 0.1%** | **Personal care products – 0.1%** |  |
| BellRing Brands, Inc. (A) | &nbsp;&nbsp;2122 | &nbsp;&nbsp;&nbsp;&nbsp;122927 |
| Coty, Inc., Class A (A) | 14638 | &nbsp;&nbsp;&nbsp;&nbsp;68067 |
| e.l.f. Beauty, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;936 | &nbsp;&nbsp;&nbsp;&nbsp;116476 |
| Edgewell Personal Care Company | &nbsp;&nbsp;&nbsp;&nbsp;829 | &nbsp;&nbsp;&nbsp;&nbsp;19407 |
| Herbalife, Ltd. (A) | &nbsp;&nbsp;1719 | &nbsp;&nbsp;&nbsp;&nbsp;14818 |
| Interparfums, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;540 | &nbsp;&nbsp;&nbsp;&nbsp;70907 |
| Kenvue, Inc. | 31690 | &nbsp;&nbsp;&nbsp;&nbsp;663272 |
| Nu Skin Enterprises, Inc., Class A | &nbsp;&nbsp;1003 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8014 |
| Olaplex Holdings, Inc. (A) | 10797 | &nbsp;&nbsp;&nbsp;&nbsp;15116 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Personal care products (continued)** | **Personal care products (continued)** |  |
| The Estee Lauder Companies, Inc., Class A | &nbsp;&nbsp;3890 | $&nbsp;&nbsp;&nbsp;&nbsp;314312 |
| The Honest Company, Inc. (A) | &nbsp;&nbsp;1862 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9478 |
| USANA Health Sciences, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;417 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12731 |
|  |  | &nbsp;&nbsp;&nbsp;1435525 |
| **Tobacco – 0.6%** | **Tobacco – 0.6%** |  |
| Altria Group, Inc. | 27303 | &nbsp;&nbsp;&nbsp;1600775 |
| Philip Morris International, Inc. | 25817 | &nbsp;&nbsp;&nbsp;4702050 |
| Turning Point Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;307 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23261 |
| Universal Corp. | &nbsp;&nbsp;&nbsp;&nbsp;415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24170 |
|  |  | &nbsp;&nbsp;&nbsp;6350256 |
|  |  | 59767611 |
| **Energy – 2.9%** |  |  |
| **Energy equipment and services – 0.2%** | **Energy equipment and services – 0.2%** |  |
| Archrock, Inc. | &nbsp;&nbsp;2929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72727 |
| Aris Water Solutions, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12605 |
| Atlas Energy Solutions, Inc. (B) | &nbsp;&nbsp;2066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27622 |
| Baker Hughes Company | 16428 | &nbsp;&nbsp;&nbsp;&nbsp;629850 |
| Bristow Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18199 |
| Cactus, Inc., Class A | &nbsp;&nbsp;1150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50278 |
| ChampionX Corp. | &nbsp;&nbsp;3175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78867 |
| Core Laboratories, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11428 |
| Expro Group Holdings NV (A) | &nbsp;&nbsp;2082 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17884 |
| Halliburton Company | 14231 | &nbsp;&nbsp;&nbsp;&nbsp;290028 |
| Helix Energy Solutions Group, Inc. (A) | &nbsp;&nbsp;2708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16898 |
| Helmerich & Payne, Inc. | &nbsp;&nbsp;1643 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24908 |
| Innovex International, Inc. (A) | &nbsp;&nbsp;1243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19416 |
| Kodiak Gas Services, Inc. | &nbsp;&nbsp;1476 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50583 |
| Liberty Energy, Inc. | &nbsp;&nbsp;2707 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31076 |
| Nabors Industries, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5436 |
| National Energy Services Reunited Corp. (A) | &nbsp;&nbsp;1705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10264 |
| NOV, Inc. | &nbsp;&nbsp;6283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78098 |
| Oceaneering International, Inc. (A) | &nbsp;&nbsp;1903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39430 |
| Oil States International, Inc. (A) | &nbsp;&nbsp;1582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8480 |
| Patterson-UTI Energy, Inc. | &nbsp;&nbsp;6522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38675 |
| ProFrac Holding Corp., Class A (A)(B) | &nbsp;&nbsp;2888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22411 |
| ProPetro Holding Corp. (A) | &nbsp;&nbsp;2082 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12430 |
| RPC, Inc. | &nbsp;&nbsp;4103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19407 |
| Schlumberger, Ltd. | 22524 | &nbsp;&nbsp;&nbsp;&nbsp;761311 |
| Select Water Solutions, Inc. | &nbsp;&nbsp;1895 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16373 |
| Solaris Energy Infrastructure, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19350 |
| TETRA Technologies, Inc. (A) | &nbsp;&nbsp;2821 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9479 |
| Tidewater, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39672 |
| Valaris, Ltd. (A) | &nbsp;&nbsp;1154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48595 |
| Weatherford International PLC | &nbsp;&nbsp;1205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60624 |
|  |  | &nbsp;&nbsp;&nbsp;2542404 |
| **Oil, gas and consumable fuels – 2.7%** | **Oil, gas and consumable fuels – 2.7%** |  |
| Antero Midstream Corp. | &nbsp;&nbsp;7637 | &nbsp;&nbsp;&nbsp;&nbsp;144721 |
| Antero Resources Corp. (A) | &nbsp;&nbsp;5160 | &nbsp;&nbsp;&nbsp;&nbsp;207845 |
| APA Corp. | &nbsp;&nbsp;6064 | &nbsp;&nbsp;&nbsp;&nbsp;110911 |
| Ardmore Shipping Corp. | &nbsp;&nbsp;&nbsp;&nbsp;717 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6883 |
| Berry Corp. | &nbsp;&nbsp;2005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5554 |
| BKV Corp. (A) | &nbsp;&nbsp;1532 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36952 |
| California Resources Corp. | &nbsp;&nbsp;1539 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70286 |
| Centrus Energy Corp., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49275 |
| Cheniere Energy, Inc. | &nbsp;&nbsp;3643 | &nbsp;&nbsp;&nbsp;&nbsp;887143 |
| Chevron Corp. | 29228 | &nbsp;&nbsp;&nbsp;4185157 |
| Chord Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;957 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92685 |
| Civitas Resources, Inc. | &nbsp;&nbsp;1521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41858 |
| Clean Energy Fuels Corp. (A) | &nbsp;&nbsp;4399 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8578 |
| CNX Resources Corp. (A) | &nbsp;&nbsp;2479 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83493 |
| Comstock Resources, Inc. (A) | &nbsp;&nbsp;4905 | &nbsp;&nbsp;&nbsp;&nbsp;135721 |
| ConocoPhillips | 21138 | &nbsp;&nbsp;&nbsp;1896924 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 149 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Total Stock Market Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Oil, gas and consumable fuels (continued)** | **Oil, gas and consumable fuels (continued)** |  |
| Core Natural Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;895 | $&nbsp;&nbsp;&nbsp;&nbsp;62417 |
| Coterra Energy, Inc. | 12671 | &nbsp;&nbsp;&nbsp;&nbsp;321590 |
| Crescent Energy Company, Class A | &nbsp;&nbsp;3248 | &nbsp;&nbsp;&nbsp;&nbsp;27933 |
| CVR Energy, Inc. | &nbsp;&nbsp;1710 | &nbsp;&nbsp;&nbsp;&nbsp;45914 |
| Delek US Holdings, Inc. | &nbsp;&nbsp;1126 | &nbsp;&nbsp;&nbsp;&nbsp;23849 |
| Devon Energy Corp. | &nbsp;&nbsp;9844 | &nbsp;&nbsp;&nbsp;&nbsp;313138 |
| Diamondback Energy, Inc. | &nbsp;&nbsp;4800 | &nbsp;&nbsp;&nbsp;&nbsp;659520 |
| Dorian LPG, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;708 | &nbsp;&nbsp;&nbsp;&nbsp;17261 |
| DT Midstream, Inc. | &nbsp;&nbsp;1676 | &nbsp;&nbsp;&nbsp;&nbsp;184209 |
| Encore Energy Corp. (A) | &nbsp;&nbsp;4125 | &nbsp;&nbsp;&nbsp;&nbsp;11798 |
| EOG Resources, Inc. | &nbsp;&nbsp;9104 | 1088929 |
| EQT Corp. | &nbsp;&nbsp;9912 | &nbsp;&nbsp;&nbsp;&nbsp;578068 |
| Excelerate Energy, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;437 | &nbsp;&nbsp;&nbsp;&nbsp;12813 |
| Expand Energy Corp. | &nbsp;&nbsp;3857 | &nbsp;&nbsp;&nbsp;&nbsp;451038 |
| Exxon Mobil Corp. | 72051 | 7767098 |
| Gevo, Inc. (A)(B) | &nbsp;&nbsp;4295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5669 |
| Granite Ridge Resources, Inc. | &nbsp;&nbsp;2762 | &nbsp;&nbsp;&nbsp;&nbsp;17594 |
| Green Plains, Inc. (A) | &nbsp;&nbsp;1436 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8659 |
| Gulfport Energy Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;297 | &nbsp;&nbsp;&nbsp;&nbsp;59747 |
| Hallador Energy Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;765 | &nbsp;&nbsp;&nbsp;&nbsp;12110 |
| Harvest Natural Resources, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Hess Corp. | &nbsp;&nbsp;5015 | &nbsp;&nbsp;&nbsp;&nbsp;694778 |
| HF Sinclair Corp. | &nbsp;&nbsp;3100 | &nbsp;&nbsp;&nbsp;&nbsp;127348 |
| HighPeak Energy, Inc. (B) | &nbsp;&nbsp;2246 | &nbsp;&nbsp;&nbsp;&nbsp;22011 |
| International Seaways, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;811 | &nbsp;&nbsp;&nbsp;&nbsp;29585 |
| Kinder Morgan, Inc. | 36454 | 1071748 |
| Kinetik Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;984 | &nbsp;&nbsp;&nbsp;&nbsp;43345 |
| Kosmos Energy, Ltd. (A) | &nbsp;&nbsp;8286 | &nbsp;&nbsp;&nbsp;&nbsp;14252 |
| Magnolia Oil & Gas Corp., Class A | &nbsp;&nbsp;3143 | &nbsp;&nbsp;&nbsp;&nbsp;70655 |
| Marathon Petroleum Corp. | &nbsp;&nbsp;5065 | &nbsp;&nbsp;&nbsp;&nbsp;841347 |
| Matador Resources Company | &nbsp;&nbsp;2036 | &nbsp;&nbsp;&nbsp;&nbsp;97158 |
| Murphy Oil Corp. | &nbsp;&nbsp;2406 | &nbsp;&nbsp;&nbsp;&nbsp;54135 |
| New Fortress Energy, Inc. (B) | &nbsp;&nbsp;4594 | &nbsp;&nbsp;&nbsp;&nbsp;15252 |
| Next Bridge Hydrocarbons, Inc. (A)(C) | &nbsp;&nbsp;2456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| NextDecade Corp. (A) | &nbsp;&nbsp;4424 | &nbsp;&nbsp;&nbsp;&nbsp;39418 |
| Northern Oil and Gas, Inc. | &nbsp;&nbsp;1612 | &nbsp;&nbsp;&nbsp;&nbsp;45700 |
| Occidental Petroleum Corp. | 15534 | &nbsp;&nbsp;&nbsp;&nbsp;652583 |
| ONEOK, Inc. | 10364 | &nbsp;&nbsp;&nbsp;&nbsp;846013 |
| Ovintiv, Inc. | &nbsp;&nbsp;4261 | &nbsp;&nbsp;&nbsp;&nbsp;162131 |
| Par Pacific Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;969 | &nbsp;&nbsp;&nbsp;&nbsp;25708 |
| PBF Energy, Inc., Class A | &nbsp;&nbsp;1969 | &nbsp;&nbsp;&nbsp;&nbsp;42668 |
| Peabody Energy Corp. | &nbsp;&nbsp;2025 | &nbsp;&nbsp;&nbsp;&nbsp;27176 |
| Permian Resources Corp. | 11476 | &nbsp;&nbsp;&nbsp;&nbsp;156303 |
| Phillips 66 | &nbsp;&nbsp;6759 | &nbsp;&nbsp;&nbsp;&nbsp;806349 |
| PrimeEnergy Resources Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5416 |
| Range Resources Corp. | &nbsp;&nbsp;4016 | &nbsp;&nbsp;&nbsp;&nbsp;163331 |
| REX American Resources Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;321 | &nbsp;&nbsp;&nbsp;&nbsp;15636 |
| Riley Exploration Permian, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;420 | &nbsp;&nbsp;&nbsp;&nbsp;11017 |
| Sable Offshore Corp. (A) | &nbsp;&nbsp;1507 | &nbsp;&nbsp;&nbsp;&nbsp;33124 |
| SandRidge Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9251 |
| SFL Corp., Ltd. | &nbsp;&nbsp;2302 | &nbsp;&nbsp;&nbsp;&nbsp;19176 |
| Sitio Royalties Corp., Class A | &nbsp;&nbsp;1458 | &nbsp;&nbsp;&nbsp;&nbsp;26798 |
| SM Energy Company | &nbsp;&nbsp;1865 | &nbsp;&nbsp;&nbsp;&nbsp;46084 |
| Talos Energy, Inc. (A) | &nbsp;&nbsp;3260 | &nbsp;&nbsp;&nbsp;&nbsp;27645 |
| Tamboran Resources Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5117 |
| Targa Resources Corp. | &nbsp;&nbsp;3396 | &nbsp;&nbsp;&nbsp;&nbsp;591176 |
| Teekay Corp., Ltd. | &nbsp;&nbsp;1577 | &nbsp;&nbsp;&nbsp;&nbsp;13010 |
| Texas Pacific Land Corp. | &nbsp;&nbsp;&nbsp;&nbsp;382 | &nbsp;&nbsp;&nbsp;&nbsp;403541 |
| The Williams Companies, Inc. | 19866 | 1247783 |
| Uranium Energy Corp. (A) | &nbsp;&nbsp;7131 | &nbsp;&nbsp;&nbsp;&nbsp;48491 |
| VAALCO Energy, Inc. | &nbsp;&nbsp;2213 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7989 |
| Valero Energy Corp. | &nbsp;&nbsp;5223 | &nbsp;&nbsp;&nbsp;&nbsp;702076 |
| Viper Energy, Inc. | &nbsp;&nbsp;2191 | &nbsp;&nbsp;&nbsp;&nbsp;83543 |
| Vital Energy, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;694 | &nbsp;&nbsp;&nbsp;&nbsp;11166 |
| Vitesse Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;635 | &nbsp;&nbsp;&nbsp;&nbsp;14027 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Oil, gas and consumable fuels (continued)** | **Oil, gas and consumable fuels (continued)** |  |
| World Kinect Corp. | &nbsp;&nbsp;&nbsp;&nbsp;958 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27159 |
|  |  | 29031559 |
|  |  | 31573963 |
| **Financials – 14.1%** |  |  |
| **Banks – 3.8%** | **Banks – 3.8%** |  |
| 1st Source Corp. | &nbsp;&nbsp;&nbsp;&nbsp;444 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27559 |
| ACNB Corp. | &nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10282 |
| Amalgamated Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16661 |
| Amerant Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;826 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15058 |
| Ameris Bancorp | &nbsp;&nbsp;&nbsp;1128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72982 |
| Arrow Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;451 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11915 |
| Associated Banc-Corp. | &nbsp;&nbsp;&nbsp;2574 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62780 |
| Atlantic Union Bankshares Corp. | &nbsp;&nbsp;&nbsp;2152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67315 |
| Axos Financial, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;931 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70793 |
| Banc of California, Inc. | &nbsp;&nbsp;&nbsp;2474 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34760 |
| BancFirst Corp. | &nbsp;&nbsp;&nbsp;&nbsp;579 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71576 |
| Bank First Corp. | &nbsp;&nbsp;&nbsp;&nbsp;205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24118 |
| Bank of America Corp. | 126140 | &nbsp;&nbsp;&nbsp;5968945 |
| Bank of Hawaii Corp. | &nbsp;&nbsp;&nbsp;&nbsp;646 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43624 |
| Bank of Marin Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;466 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10643 |
| Bank OZK | &nbsp;&nbsp;&nbsp;1789 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84190 |
| Bank7 Corp. | &nbsp;&nbsp;&nbsp;&nbsp;215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8993 |
| BankUnited, Inc. | &nbsp;&nbsp;&nbsp;1198 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42637 |
| Banner Corp. | &nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35283 |
| Bar Harbor Bankshares | &nbsp;&nbsp;&nbsp;&nbsp;444 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13302 |
| Berkshire Hills Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;809 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20257 |
| BOK Financial Corp. | &nbsp;&nbsp;&nbsp;1080 | &nbsp;&nbsp;&nbsp;&nbsp;105440 |
| Bridgewater Bancshares, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;451 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7175 |
| Brookline Bancorp, Inc. | &nbsp;&nbsp;&nbsp;1778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18758 |
| Burke & Herbert Financial Services Corp. | &nbsp;&nbsp;&nbsp;&nbsp;273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16306 |
| Business First Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15653 |
| Byline Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25500 |
| Cadence Bank | &nbsp;&nbsp;&nbsp;2938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93957 |
| California BanCorp (A) | &nbsp;&nbsp;&nbsp;&nbsp;709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11174 |
| Camden National Corp. | &nbsp;&nbsp;&nbsp;&nbsp;373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15136 |
| Capital Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15312 |
| Capital City Bank Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10743 |
| Capitol Federal Financial, Inc. | &nbsp;&nbsp;&nbsp;2550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15555 |
| Carter Bankshares, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;642 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11132 |
| Cathay General Bancorp | &nbsp;&nbsp;&nbsp;1159 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52769 |
| Central Pacific Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15557 |
| ChoiceOne Financial Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5912 |
| Citigroup, Inc. | &nbsp;&nbsp;31217 | &nbsp;&nbsp;&nbsp;2657191 |
| Citizens Financial Group, Inc. | &nbsp;&nbsp;&nbsp;7012 | &nbsp;&nbsp;&nbsp;&nbsp;313787 |
| Citizens Financial Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46 |
| City Holding Company | &nbsp;&nbsp;&nbsp;&nbsp;259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31707 |
| Civista Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6125 |
| CNB Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13350 |
| Coastal Financial Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24702 |
| Colony Bankcorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;587 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9668 |
| Columbia Banking System, Inc. | &nbsp;&nbsp;&nbsp;3326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77762 |
| Columbia Financial, Inc. (A) | &nbsp;&nbsp;&nbsp;2094 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30384 |
| Comerica, Inc. | &nbsp;&nbsp;&nbsp;2129 | &nbsp;&nbsp;&nbsp;&nbsp;126995 |
| Commerce Bancshares, Inc. | &nbsp;&nbsp;&nbsp;2176 | &nbsp;&nbsp;&nbsp;&nbsp;135282 |
| Community Financial System, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;882 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50159 |
| Community Trust Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;399 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21115 |
| Community West Bancshares | &nbsp;&nbsp;&nbsp;&nbsp;312 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6087 |
| ConnectOne Bancorp, Inc. | &nbsp;&nbsp;&nbsp;1085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25129 |
| Cullen/Frost Bankers, Inc. | &nbsp;&nbsp;&nbsp;1044 | &nbsp;&nbsp;&nbsp;&nbsp;134196 |
| Customers Bancorp, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30251 |
| CVB Financial Corp. | &nbsp;&nbsp;&nbsp;2369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46883 |
| Dime Community Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20609 |
| Eagle Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11006 |
| East West Bancorp, Inc. | &nbsp;&nbsp;&nbsp;2258 | &nbsp;&nbsp;&nbsp;&nbsp;228013 |
| Eastern Bankshares, Inc. | &nbsp;&nbsp;&nbsp;3553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54254 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 150 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Total Stock Market Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Banks (continued)** | **Banks (continued)** |  |
| Enterprise Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;308 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12209 |
| Enterprise Financial Services Corp. | &nbsp;&nbsp;&nbsp;&nbsp;627 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34548 |
| Equity Bancshares, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;387 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15790 |
| Esquire Financial Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15240 |
| Farmers & Merchants Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5789 |
| Farmers National Banc Corp. | &nbsp;&nbsp;1249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17224 |
| FB Bancorp, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5873 |
| FB Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38596 |
| Fifth Third Bancorp | 10836 | &nbsp;&nbsp;&nbsp;&nbsp;445685 |
| Financial Institutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;469 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12044 |
| First Bancorp (North Carolina) | &nbsp;&nbsp;&nbsp;&nbsp;752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33156 |
| First Bancorp (Puerto Rico) | &nbsp;&nbsp;2711 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56470 |
| First Bank | &nbsp;&nbsp;&nbsp;&nbsp;397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6142 |
| First Busey Corp. | &nbsp;&nbsp;1008 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23068 |
| First Business Financial Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11348 |
| First Citizens BancShares, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;208 | &nbsp;&nbsp;&nbsp;&nbsp;406946 |
| First Commonwealth Financial Corp. | &nbsp;&nbsp;1910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30999 |
| First Community Bankshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;438 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17156 |
| First Financial Bancorp | &nbsp;&nbsp;1611 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39083 |
| First Financial Bankshares, Inc. | &nbsp;&nbsp;2427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87323 |
| First Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14685 |
| First Financial Northwest, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123 |
| First Foundation, Inc. (A) | &nbsp;&nbsp;1573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8022 |
| First Hawaiian, Inc. | &nbsp;&nbsp;2129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53140 |
| First Horizon Corp. | &nbsp;&nbsp;8468 | &nbsp;&nbsp;&nbsp;&nbsp;179522 |
| First Interstate BancSystem, Inc., Class A | &nbsp;&nbsp;1687 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48619 |
| First Merchants Corp. | &nbsp;&nbsp;&nbsp;&nbsp;987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37802 |
| First Mid Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21557 |
| Firstsun Capital Bancorp (A) | &nbsp;&nbsp;&nbsp;&nbsp;497 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17271 |
| Five Star Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14869 |
| Flagstar Financial, Inc. | &nbsp;&nbsp;6897 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73108 |
| Flushing Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8661 |
| FNB Corp. | &nbsp;&nbsp;5451 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79476 |
| Fulton Financial Corp. | &nbsp;&nbsp;2873 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51829 |
| German American Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;701 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26996 |
| Glacier Bancorp, Inc. | &nbsp;&nbsp;1868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80473 |
| Great Southern Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17281 |
| Greene County Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;368 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8177 |
| Guaranty Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;263 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11162 |
| Hancock Whitney Corp. | &nbsp;&nbsp;1348 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77375 |
| Hanmi Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14808 |
| HarborOne Bancorp, Inc. | &nbsp;&nbsp;1275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14892 |
| HBT Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;507 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12781 |
| Heritage Commerce Corp. | &nbsp;&nbsp;1484 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14736 |
| Heritage Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;722 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17212 |
| Hilltop Holdings, Inc. | &nbsp;&nbsp;1123 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34083 |
| Home Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10874 |
| Home BancShares, Inc. | &nbsp;&nbsp;3181 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90531 |
| HomeTrust Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;407 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15226 |
| Hope Bancorp, Inc. | &nbsp;&nbsp;2611 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28016 |
| Horizon Bancorp, Inc. | &nbsp;&nbsp;1054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16211 |
| Huntington Bancshares, Inc. | 23312 | &nbsp;&nbsp;&nbsp;&nbsp;390709 |
| Independent Bank Corp. (Massachusetts) | &nbsp;&nbsp;&nbsp;&nbsp;685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43076 |
| Independent Bank Corp. (Michigan) | &nbsp;&nbsp;&nbsp;&nbsp;457 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14811 |
| International Bancshares Corp. | &nbsp;&nbsp;1017 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67692 |
| JPMorgan Chase & Co. | 46410 | 13454723 |
| Kearny Financial Corp. | &nbsp;&nbsp;1729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11169 |
| KeyCorp | 17978 | &nbsp;&nbsp;&nbsp;&nbsp;313177 |
| Lakeland Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28021 |
| Live Oak Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;793 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23631 |
| M&T Bank Corp. | &nbsp;&nbsp;2696 | &nbsp;&nbsp;&nbsp;&nbsp;522997 |
| Mercantile Bank Corp. | &nbsp;&nbsp;&nbsp;&nbsp;343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15919 |
| Metrocity Bankshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;679 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19406 |
| Metropolitan Bank Holding Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;198 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13860 |
| Mid Penn Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;441 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12436 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Banks (continued)** | **Banks (continued)** |  |
| Midland States Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;536 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9284 |
| MidWestOne Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;543 | &nbsp;&nbsp;&nbsp;&nbsp;15622 |
| National Bank Holdings Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;642 | &nbsp;&nbsp;&nbsp;&nbsp;24146 |
| NB Bancorp, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;14288 |
| NBT Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;954 | &nbsp;&nbsp;&nbsp;&nbsp;39639 |
| Nicolet Bankshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;273 | &nbsp;&nbsp;&nbsp;&nbsp;33710 |
| Northeast Bank | &nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp;&nbsp;12904 |
| Northeast Community Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7369 |
| Northfield Bancorp, Inc. | &nbsp;&nbsp;1148 | &nbsp;&nbsp;&nbsp;&nbsp;13179 |
| Northrim BanCorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;137 | &nbsp;&nbsp;&nbsp;&nbsp;12777 |
| Northwest Bancshares, Inc. | &nbsp;&nbsp;2357 | &nbsp;&nbsp;&nbsp;&nbsp;30122 |
| NU Holdings, Ltd., Class A (A) | 61336 | &nbsp;&nbsp;&nbsp;&nbsp;841530 |
| OceanFirst Financial Corp. | &nbsp;&nbsp;1157 | &nbsp;&nbsp;&nbsp;&nbsp;20375 |
| OFG Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;756 | &nbsp;&nbsp;&nbsp;&nbsp;32357 |
| Old National Bancorp | &nbsp;&nbsp;5076 | &nbsp;&nbsp;&nbsp;&nbsp;108322 |
| Old Second Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;923 | &nbsp;&nbsp;&nbsp;&nbsp;16374 |
| Origin Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;590 | &nbsp;&nbsp;&nbsp;&nbsp;21087 |
| Orrstown Financial Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;351 | &nbsp;&nbsp;&nbsp;&nbsp;11172 |
| Pacific Premier Bancorp, Inc. | &nbsp;&nbsp;1621 | &nbsp;&nbsp;&nbsp;&nbsp;34187 |
| Park National Corp. | &nbsp;&nbsp;&nbsp;&nbsp;285 | &nbsp;&nbsp;&nbsp;&nbsp;47669 |
| Pathward Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;379 | &nbsp;&nbsp;&nbsp;&nbsp;29986 |
| Peapack-Gladstone Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;389 | &nbsp;&nbsp;&nbsp;&nbsp;10989 |
| Peoples Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;646 | &nbsp;&nbsp;&nbsp;&nbsp;19729 |
| Peoples Financial Services Corp. | &nbsp;&nbsp;&nbsp;&nbsp;258 | &nbsp;&nbsp;&nbsp;&nbsp;12737 |
| Pinnacle Financial Partners, Inc. | &nbsp;&nbsp;1254 | &nbsp;&nbsp;&nbsp;&nbsp;138454 |
| Popular, Inc. | &nbsp;&nbsp;1146 | &nbsp;&nbsp;&nbsp;&nbsp;126301 |
| Preferred Bank | &nbsp;&nbsp;&nbsp;&nbsp;211 | &nbsp;&nbsp;&nbsp;&nbsp;18261 |
| Prosperity Bancshares, Inc. | &nbsp;&nbsp;1515 | &nbsp;&nbsp;&nbsp;&nbsp;106414 |
| Provident Financial Services, Inc. | &nbsp;&nbsp;2204 | &nbsp;&nbsp;&nbsp;&nbsp;38636 |
| QCR Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;293 | &nbsp;&nbsp;&nbsp;&nbsp;19895 |
| Red River Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6457 |
| Regions Financial Corp. | 14543 | &nbsp;&nbsp;&nbsp;&nbsp;342051 |
| Renasant Corp. | &nbsp;&nbsp;1562 | &nbsp;&nbsp;&nbsp;&nbsp;56123 |
| Republic Bancorp, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;353 | &nbsp;&nbsp;&nbsp;&nbsp;25808 |
| S&T Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;678 | &nbsp;&nbsp;&nbsp;&nbsp;25642 |
| Seacoast Banking Corp. of Florida | &nbsp;&nbsp;1472 | &nbsp;&nbsp;&nbsp;&nbsp;40657 |
| ServisFirst Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;917 | &nbsp;&nbsp;&nbsp;&nbsp;71077 |
| Shore Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;862 | &nbsp;&nbsp;&nbsp;&nbsp;13551 |
| Sierra Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;422 | &nbsp;&nbsp;&nbsp;&nbsp;12529 |
| Simmons First National Corp., Class A | &nbsp;&nbsp;2185 | &nbsp;&nbsp;&nbsp;&nbsp;41428 |
| SmartFinancial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;447 | &nbsp;&nbsp;&nbsp;&nbsp;15100 |
| South Plains Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;470 | &nbsp;&nbsp;&nbsp;&nbsp;16939 |
| Southern Missouri Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;258 | &nbsp;&nbsp;&nbsp;&nbsp;14133 |
| Southern States Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5746 |
| Southside Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;598 | &nbsp;&nbsp;&nbsp;&nbsp;17599 |
| SouthState Corp. | &nbsp;&nbsp;1633 | &nbsp;&nbsp;&nbsp;&nbsp;150285 |
| Stellar Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;994 | &nbsp;&nbsp;&nbsp;&nbsp;27812 |
| Sterling Bancorp, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;861 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Stock Yards Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;529 | &nbsp;&nbsp;&nbsp;&nbsp;41780 |
| Synovus Financial Corp. | &nbsp;&nbsp;2237 | &nbsp;&nbsp;&nbsp;&nbsp;115765 |
| Texas Capital Bancshares, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;735 | &nbsp;&nbsp;&nbsp;&nbsp;58359 |
| TFS Financial Corp. | &nbsp;&nbsp;4911 | &nbsp;&nbsp;&nbsp;&nbsp;63597 |
| The Bancorp, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;793 | &nbsp;&nbsp;&nbsp;&nbsp;45177 |
| The Bank of NT Butterfield & Son, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;771 | &nbsp;&nbsp;&nbsp;&nbsp;34140 |
| The Hingham Institution for Savings | &nbsp;&nbsp;&nbsp;&nbsp;44 | &nbsp;&nbsp;&nbsp;&nbsp;10927 |
| The PNC Financial Services Group, Inc. | &nbsp;&nbsp;6534 | 1218068 |
| Third Coast Bancshares, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9246 |
| Tompkins Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;303 | &nbsp;&nbsp;&nbsp;&nbsp;19007 |
| Towne Bank | &nbsp;&nbsp;1327 | &nbsp;&nbsp;&nbsp;&nbsp;45357 |
| TriCo Bancshares | &nbsp;&nbsp;&nbsp;&nbsp;626 | &nbsp;&nbsp;&nbsp;&nbsp;25347 |
| Triumph Financial, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;411 | &nbsp;&nbsp;&nbsp;&nbsp;22650 |
| Truist Financial Corp. | 21567 | &nbsp;&nbsp;&nbsp;&nbsp;927165 |
| Trustmark Corp. | &nbsp;&nbsp;1018 | &nbsp;&nbsp;&nbsp;&nbsp;37116 |
| U.S. Bancorp | 25770 | 1166093 |
| UMB Financial Corp. | &nbsp;&nbsp;1163 | &nbsp;&nbsp;&nbsp;&nbsp;122301 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 151 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Total Stock Market Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Banks (continued)** | **Banks (continued)** |  |
| United Bankshares, Inc. | &nbsp;&nbsp;2200 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80146 |
| United Community Banks, Inc. | &nbsp;&nbsp;1952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58150 |
| Unity Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;246 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11582 |
| Univest Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19556 |
| Valley National Bancorp | &nbsp;&nbsp;9099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81254 |
| Veritex Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;902 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23542 |
| WaFd, Inc. | &nbsp;&nbsp;1352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39587 |
| Washington Trust Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12047 |
| Webster Financial Corp. | &nbsp;&nbsp;2749 | &nbsp;&nbsp;&nbsp;&nbsp;150095 |
| Wells Fargo & Company | 54551 | &nbsp;&nbsp;&nbsp;4370626 |
| WesBanco, Inc. | &nbsp;&nbsp;1094 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34603 |
| West BanCorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5555 |
| Westamerica BanCorp | &nbsp;&nbsp;&nbsp;&nbsp;462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22379 |
| Western Alliance Bancorp | &nbsp;&nbsp;1815 | &nbsp;&nbsp;&nbsp;&nbsp;141534 |
| Wintrust Financial Corp. | &nbsp;&nbsp;1063 | &nbsp;&nbsp;&nbsp;&nbsp;131791 |
| WSFS Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;972 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53460 |
| Zions Bancorp NA | &nbsp;&nbsp;2380 | &nbsp;&nbsp;&nbsp;&nbsp;123617 |
|  |  | 40622358 |
| **Capital markets – 3.5%** | **Capital markets – 3.5%** |  |
| Acadian Asset Management, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;694 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24457 |
| Affiliated Managers Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93466 |
| AlTi Global, Inc. (A) | &nbsp;&nbsp;1545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6412 |
| Ameriprise Financial, Inc. | &nbsp;&nbsp;1661 | &nbsp;&nbsp;&nbsp;&nbsp;886526 |
| Ares Management Corp., Class A | &nbsp;&nbsp;3385 | &nbsp;&nbsp;&nbsp;&nbsp;586282 |
| Artisan Partners Asset Management, Inc., Class A | &nbsp;&nbsp;1156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51245 |
| BGC Group, Inc., Class A | &nbsp;&nbsp;6160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63017 |
| BlackRock, Inc. | &nbsp;&nbsp;2577 | &nbsp;&nbsp;&nbsp;2703917 |
| Blue Owl Capital, Inc. | 10104 | &nbsp;&nbsp;&nbsp;&nbsp;194098 |
| Bridge Investment Group Holdings, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9510 |
| Cboe Global Markets, Inc. | &nbsp;&nbsp;1739 | &nbsp;&nbsp;&nbsp;&nbsp;405552 |
| CME Group, Inc. | &nbsp;&nbsp;5982 | &nbsp;&nbsp;&nbsp;1648759 |
| Cohen & Steers, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;867 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65328 |
| Coinbase Global, Inc., Class A (A) | &nbsp;&nbsp;3487 | &nbsp;&nbsp;&nbsp;1222159 |
| Diamond Hill Investment Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;67 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9736 |
| DigitalBridge Group, Inc. | &nbsp;&nbsp;2959 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30626 |
| Donnelley Financial Solutions, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;507 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31257 |
| Evercore, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;642 | &nbsp;&nbsp;&nbsp;&nbsp;173353 |
| FactSet Research Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;629 | &nbsp;&nbsp;&nbsp;&nbsp;281339 |
| Federated Hermes, Inc. | &nbsp;&nbsp;1323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58635 |
| Fidus Investment Corp. | &nbsp;&nbsp;&nbsp;&nbsp;641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12948 |
| Franklin Resources, Inc. | &nbsp;&nbsp;8645 | &nbsp;&nbsp;&nbsp;&nbsp;206183 |
| GCM Grosvenor, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;901 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10416 |
| Hamilton Lane, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;717 | &nbsp;&nbsp;&nbsp;&nbsp;101900 |
| Houlihan Lokey, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;892 | &nbsp;&nbsp;&nbsp;&nbsp;160515 |
| Interactive Brokers Group, Inc., Class A | &nbsp;&nbsp;7216 | &nbsp;&nbsp;&nbsp;&nbsp;399839 |
| Intercontinental Exchange, Inc. | &nbsp;&nbsp;9531 | &nbsp;&nbsp;&nbsp;1748653 |
| Invesco, Ltd. | &nbsp;&nbsp;7300 | &nbsp;&nbsp;&nbsp;&nbsp;115121 |
| Jefferies Financial Group, Inc. | &nbsp;&nbsp;3404 | &nbsp;&nbsp;&nbsp;&nbsp;186165 |
| KKR & Company, Inc. | 14755 | &nbsp;&nbsp;&nbsp;1962858 |
| Lazard, Inc. | &nbsp;&nbsp;1491 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71538 |
| LPL Financial Holdings, Inc. | &nbsp;&nbsp;1212 | &nbsp;&nbsp;&nbsp;&nbsp;454464 |
| MarketAxess Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;625 | &nbsp;&nbsp;&nbsp;&nbsp;139588 |
| Moelis & Company, Class A | &nbsp;&nbsp;1167 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72727 |
| Moody's Corp. | &nbsp;&nbsp;2987 | &nbsp;&nbsp;&nbsp;1498249 |
| Morgan Stanley | 26763 | &nbsp;&nbsp;&nbsp;3769836 |
| Morningstar, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;716 | &nbsp;&nbsp;&nbsp;&nbsp;224774 |
| MSCI, Inc. | &nbsp;&nbsp;1287 | &nbsp;&nbsp;&nbsp;&nbsp;742264 |
| Nasdaq, Inc. | &nbsp;&nbsp;9536 | &nbsp;&nbsp;&nbsp;&nbsp;852709 |
| Northern Trust Corp. | &nbsp;&nbsp;3226 | &nbsp;&nbsp;&nbsp;&nbsp;409025 |
| Nuveen Churchill Direct Lending Corp. | &nbsp;&nbsp;&nbsp;&nbsp;963 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15591 |
| Open Lending Corp. (A) | &nbsp;&nbsp;3597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6978 |
| Oppenheimer Holdings, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;214 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14075 |
| P10, Inc., Class A | &nbsp;&nbsp;1012 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10343 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Capital markets (continued)** | **Capital markets (continued)** |  |
| P10, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;665 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6796 |
| Patria Investments, Ltd., Class A | &nbsp;&nbsp;1153 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16211 |
| Perella Weinberg Partners | &nbsp;&nbsp;1055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20488 |
| Piper Sandler Companies | &nbsp;&nbsp;&nbsp;&nbsp;296 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82270 |
| PJT Partners, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63199 |
| Raymond James Financial, Inc. | &nbsp;&nbsp;3389 | &nbsp;&nbsp;&nbsp;&nbsp;519771 |
| Robinhood Markets, Inc., Class A (A) | 12742 | &nbsp;&nbsp;&nbsp;1193033 |
| S&P Global, Inc. | &nbsp;&nbsp;5109 | &nbsp;&nbsp;&nbsp;2693925 |
| SEI Investments Company | &nbsp;&nbsp;2085 | &nbsp;&nbsp;&nbsp;&nbsp;187358 |
| State Street Corp. | &nbsp;&nbsp;4754 | &nbsp;&nbsp;&nbsp;&nbsp;505540 |
| StepStone Group, Inc., Class A | &nbsp;&nbsp;1278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70929 |
| Stifel Financial Corp. | &nbsp;&nbsp;1706 | &nbsp;&nbsp;&nbsp;&nbsp;177049 |
| StoneX Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;801 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73003 |
| SuRo Capital Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5813 |
| T. Rowe Price Group, Inc. | &nbsp;&nbsp;3658 | &nbsp;&nbsp;&nbsp;&nbsp;352997 |
| The Bank of New York Mellon Corp. | 11865 | &nbsp;&nbsp;&nbsp;1081020 |
| The Blackstone Group, Inc. | 11987 | &nbsp;&nbsp;&nbsp;1793015 |
| The Carlyle Group, Inc. | &nbsp;&nbsp;5986 | &nbsp;&nbsp;&nbsp;&nbsp;307680 |
| The Charles Schwab Corp. | 30106 | &nbsp;&nbsp;&nbsp;2746871 |
| The Goldman Sachs Group, Inc. | &nbsp;&nbsp;5170 | &nbsp;&nbsp;&nbsp;3659068 |
| TPG, Inc. | &nbsp;&nbsp;1763 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92469 |
| Tradeweb Markets, Inc., Class A | &nbsp;&nbsp;1928 | &nbsp;&nbsp;&nbsp;&nbsp;282259 |
| Value Line, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6068 |
| Victory Capital Holdings, Inc., Class A | &nbsp;&nbsp;1091 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69464 |
| Virtu Financial, Inc., Class A | &nbsp;&nbsp;1439 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64453 |
| Virtus Investment Partners, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21949 |
| WisdomTree, Inc. | &nbsp;&nbsp;2598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29903 |
|  |  | 37855034 |
| **Consumer finance – 0.7%** | **Consumer finance – 0.7%** |  |
| Ally Financial, Inc. | &nbsp;&nbsp;5059 | &nbsp;&nbsp;&nbsp;&nbsp;197048 |
| American Express Company | 11663 | &nbsp;&nbsp;&nbsp;3720264 |
| Atlanticus Holdings Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14783 |
| Bread Financial Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;807 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46096 |
| Capital One Financial Corp. | 10579 | &nbsp;&nbsp;&nbsp;2250788 |
| Credit Acceptance Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;201 | &nbsp;&nbsp;&nbsp;&nbsp;102395 |
| Dave, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50729 |
| Encore Capital Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17652 |
| Enova International, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46838 |
| EZCORP, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;883 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12256 |
| FirstCash Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;745 | &nbsp;&nbsp;&nbsp;&nbsp;100679 |
| Green Dot Corp., Class A (A) | &nbsp;&nbsp;1056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11384 |
| LendingClub Corp. (A) | &nbsp;&nbsp;1920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23098 |
| LendingTree, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8637 |
| Navient Corp. | &nbsp;&nbsp;1760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24816 |
| Nelnet, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54262 |
| NerdWallet, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;812 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8908 |
| OneMain Holdings, Inc. | &nbsp;&nbsp;1944 | &nbsp;&nbsp;&nbsp;&nbsp;110808 |
| PRA Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10251 |
| PROG Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;706 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20721 |
| Regional Management Corp. | &nbsp;&nbsp;&nbsp;&nbsp;235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6864 |
| SLM Corp. | &nbsp;&nbsp;3467 | &nbsp;&nbsp;&nbsp;&nbsp;113683 |
| SoFi Technologies, Inc. (A) | 18167 | &nbsp;&nbsp;&nbsp;&nbsp;330821 |
| Synchrony Financial | &nbsp;&nbsp;6400 | &nbsp;&nbsp;&nbsp;&nbsp;427136 |
| Upstart Holdings, Inc. (A) | &nbsp;&nbsp;1560 | &nbsp;&nbsp;&nbsp;&nbsp;100901 |
| World Acceptance Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17503 |
|  |  | &nbsp;&nbsp;&nbsp;7829321 |
| **Financial services – 4.1%** | **Financial services – 4.1%** |  |
| Acacia Research Corp. (A) | &nbsp;&nbsp;2646 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9473 |
| Affirm Holdings, Inc. (A) | &nbsp;&nbsp;4605 | &nbsp;&nbsp;&nbsp;&nbsp;318390 |
| Alerus Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14607 |
| Apollo Global Management, Inc. | &nbsp;&nbsp;9470 | &nbsp;&nbsp;&nbsp;1343509 |
| AvidXchange Holdings, Inc. (A) | &nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35244 |
| Berkshire Hathaway, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;5101600 |
| Berkshire Hathaway, Inc., Class B (A) | 22219 | 10793324 |
| Block, Inc. (A) | &nbsp;&nbsp;9276 | &nbsp;&nbsp;&nbsp;&nbsp;630119 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 152 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Total Stock Market Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Financial services (continued)** | **Financial services (continued)** |  |
| Cannae Holdings, Inc. | &nbsp;&nbsp;1184 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24686 |
| Cantaloupe, Inc. (A)(B) | &nbsp;&nbsp;1389 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15265 |
| Cass Information Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;304 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13209 |
| Compass Diversified Holdings | &nbsp;&nbsp;1476 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9269 |
| Corebridge Financial, Inc. | &nbsp;&nbsp;9206 | &nbsp;&nbsp;&nbsp;&nbsp;326813 |
| Corpay, Inc. (A) | &nbsp;&nbsp;1163 | &nbsp;&nbsp;&nbsp;&nbsp;385907 |
| Enact Holdings, Inc. | &nbsp;&nbsp;2639 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98039 |
| Equitable Holdings, Inc. | &nbsp;&nbsp;5050 | &nbsp;&nbsp;&nbsp;&nbsp;283305 |
| Euronet Worldwide, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;726 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73602 |
| Federal Agricultural Mortgage Corp., Class C | &nbsp;&nbsp;&nbsp;&nbsp;157 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30502 |
| Fidelity National Information Services, Inc. | &nbsp;&nbsp;8793 | &nbsp;&nbsp;&nbsp;&nbsp;715838 |
| Fiserv, Inc. (A) | &nbsp;&nbsp;9317 | &nbsp;&nbsp;&nbsp;1606344 |
| Flywire Corp. (A) | &nbsp;&nbsp;2126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24874 |
| Global Payments, Inc. | &nbsp;&nbsp;4097 | &nbsp;&nbsp;&nbsp;&nbsp;327924 |
| HA Sustainable Infrastructure Capital, Inc. | &nbsp;&nbsp;1979 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53156 |
| International Money Express, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;596 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6014 |
| Jack Henry & Associates, Inc. | &nbsp;&nbsp;1210 | &nbsp;&nbsp;&nbsp;&nbsp;218006 |
| Jackson Financial, Inc., Class A | &nbsp;&nbsp;1190 | &nbsp;&nbsp;&nbsp;&nbsp;105660 |
| Marqeta, Inc., Class A (A) | &nbsp;&nbsp;8188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47736 |
| Mastercard, Inc., Class A | 15025 | &nbsp;&nbsp;&nbsp;8443149 |
| Merchants Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;794 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26258 |
| MGIC Investment Corp. | &nbsp;&nbsp;3962 | &nbsp;&nbsp;&nbsp;&nbsp;110302 |
| Mr. Cooper Group, Inc. (A) | &nbsp;&nbsp;1054 | &nbsp;&nbsp;&nbsp;&nbsp;157267 |
| NCR Atleos Corp. (A) | &nbsp;&nbsp;1232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35149 |
| NewtekOne, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6136 |
| NMI Holdings, Inc. (A) | &nbsp;&nbsp;1291 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54467 |
| Onity Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6832 |
| PagSeguro Digital, Ltd., Class A | &nbsp;&nbsp;3453 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33287 |
| Payoneer Global, Inc. (A) | &nbsp;&nbsp;6103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41806 |
| PayPal Holdings, Inc. (A) | 16412 | &nbsp;&nbsp;&nbsp;1219740 |
| PennyMac Financial Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85192 |
| Priority Technology Holdings, Inc. (A) | &nbsp;&nbsp;1391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10822 |
| Radian Group, Inc. | &nbsp;&nbsp;2366 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85223 |
| Remitly Global, Inc. (A) | &nbsp;&nbsp;3345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62786 |
| Repay Holdings Corp. (A) | &nbsp;&nbsp;1770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8531 |
| Sezzle, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;567 | &nbsp;&nbsp;&nbsp;&nbsp;101635 |
| Shift4 Payments, Inc., Class A (A)(B) | &nbsp;&nbsp;1122 | &nbsp;&nbsp;&nbsp;&nbsp;111201 |
| The Western Union Company | &nbsp;&nbsp;5514 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46428 |
| Toast, Inc., Class A (A) | &nbsp;&nbsp;8195 | &nbsp;&nbsp;&nbsp;&nbsp;362957 |
| TrustCo Bank Corp. NY | &nbsp;&nbsp;&nbsp;&nbsp;449 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15006 |
| UWM Holdings Corp. | &nbsp;&nbsp;2746 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11368 |
| Velocity Financial, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12162 |
| Visa, Inc., Class A | 28610 | 10157981 |
| Voya Financial, Inc. | &nbsp;&nbsp;1566 | &nbsp;&nbsp;&nbsp;&nbsp;111186 |
| Walker & Dunlop, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40174 |
| WEX, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;643 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94450 |
|  |  | 44063910 |
| **Insurance – 1.9%** | **Insurance – 1.9%** |  |
| Abacus Global Management, Inc. (A) | &nbsp;&nbsp;1686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8666 |
| Aflac, Inc. | &nbsp;&nbsp;9102 | &nbsp;&nbsp;&nbsp;&nbsp;959897 |
| Ambac Financial Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6639 |
| American Coastal Insurance Corp. | &nbsp;&nbsp;&nbsp;&nbsp;855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9508 |
| American Financial Group, Inc. | &nbsp;&nbsp;1392 | &nbsp;&nbsp;&nbsp;&nbsp;175684 |
| American International Group, Inc. | &nbsp;&nbsp;9831 | &nbsp;&nbsp;&nbsp;&nbsp;841435 |
| AMERISAFE, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16268 |
| Aon PLC, Class A | &nbsp;&nbsp;3583 | &nbsp;&nbsp;&nbsp;1278271 |
| Arch Capital Group, Ltd. | &nbsp;&nbsp;6219 | &nbsp;&nbsp;&nbsp;&nbsp;566240 |
| Arthur J. Gallagher & Company | &nbsp;&nbsp;4226 | &nbsp;&nbsp;&nbsp;1352827 |
| Assurant, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;838 | &nbsp;&nbsp;&nbsp;&nbsp;165497 |
| Assured Guaranty, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;841 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73251 |
| Axis Capital Holdings, Ltd. | &nbsp;&nbsp;1309 | &nbsp;&nbsp;&nbsp;&nbsp;135900 |
| Bowhead Specialty Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;601 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22556 |
| Brighthouse Financial, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;962 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51727 |
| Brown & Brown, Inc. | &nbsp;&nbsp;4737 | &nbsp;&nbsp;&nbsp;&nbsp;525191 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Insurance (continued)** | **Insurance (continued)** |  |
| Cincinnati Financial Corp. | &nbsp;&nbsp;2601 | $&nbsp;&nbsp;&nbsp;&nbsp;387341 |
| CNO Financial Group, Inc. | &nbsp;&nbsp;1693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65316 |
| Donegal Group, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14298 |
| Employers Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21137 |
| Enstar Group, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81735 |
| Erie Indemnity Company, Class A | &nbsp;&nbsp;&nbsp;&nbsp;770 | &nbsp;&nbsp;&nbsp;&nbsp;267028 |
| Everest Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;701 | &nbsp;&nbsp;&nbsp;&nbsp;238235 |
| Fidelity National Financial, Inc. | &nbsp;&nbsp;4554 | &nbsp;&nbsp;&nbsp;&nbsp;255297 |
| First American Financial Corp. | &nbsp;&nbsp;1694 | &nbsp;&nbsp;&nbsp;&nbsp;103995 |
| Genworth Financial, Inc. (A) | &nbsp;&nbsp;7177 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55837 |
| Globe Life, Inc. | &nbsp;&nbsp;1394 | &nbsp;&nbsp;&nbsp;&nbsp;173260 |
| Goosehead Insurance, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;409 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43154 |
| Hamilton Insurance Group, Ltd., Class B (A) | &nbsp;&nbsp;1111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24020 |
| HCI Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26787 |
| Heritage Insurance Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;528 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13168 |
| Hippo Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12038 |
| Horace Mann Educators Corp. | &nbsp;&nbsp;&nbsp;&nbsp;697 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29950 |
| Investors Title Company | &nbsp;&nbsp;&nbsp;&nbsp;42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8875 |
| James River Group Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5292 |
| Kemper Corp. | &nbsp;&nbsp;1063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68606 |
| Kinsale Capital Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;386 | &nbsp;&nbsp;&nbsp;&nbsp;186785 |
| Lemonade, Inc. (A) | &nbsp;&nbsp;1219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53404 |
| Lincoln National Corp. | &nbsp;&nbsp;2780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96188 |
| Loews Corp. | &nbsp;&nbsp;3530 | &nbsp;&nbsp;&nbsp;&nbsp;323560 |
| Markel Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;212 | &nbsp;&nbsp;&nbsp;&nbsp;423440 |
| Marsh & McLennan Companies, Inc. | &nbsp;&nbsp;8149 | &nbsp;&nbsp;&nbsp;1781697 |
| Mercury General Corp. | &nbsp;&nbsp;&nbsp;&nbsp;926 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62357 |
| MetLife, Inc. | 11302 | &nbsp;&nbsp;&nbsp;&nbsp;908907 |
| Old Republic International Corp. | &nbsp;&nbsp;4060 | &nbsp;&nbsp;&nbsp;&nbsp;156066 |
| Oscar Health, Inc., Class A (A) | &nbsp;&nbsp;3588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76927 |
| Palomar Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;444 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68487 |
| Primerica, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;557 | &nbsp;&nbsp;&nbsp;&nbsp;152434 |
| Principal Financial Group, Inc. | &nbsp;&nbsp;3725 | &nbsp;&nbsp;&nbsp;&nbsp;295877 |
| ProAssurance Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;913 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20844 |
| Prudential Financial, Inc. | &nbsp;&nbsp;5859 | &nbsp;&nbsp;&nbsp;&nbsp;629491 |
| Reinsurance Group of America, Inc. | &nbsp;&nbsp;1087 | &nbsp;&nbsp;&nbsp;&nbsp;215617 |
| RenaissanceRe Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;809 | &nbsp;&nbsp;&nbsp;&nbsp;196506 |
| RLI Corp. | &nbsp;&nbsp;1536 | &nbsp;&nbsp;&nbsp;&nbsp;110930 |
| Root, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23930 |
| Ryan Specialty Holdings, Inc. | &nbsp;&nbsp;2084 | &nbsp;&nbsp;&nbsp;&nbsp;141691 |
| Safety Insurance Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22467 |
| Selective Insurance Group, Inc. | &nbsp;&nbsp;1013 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87776 |
| SelectQuote, Inc. (A) | &nbsp;&nbsp;3023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7195 |
| SiriusPoint, Ltd. (A) | &nbsp;&nbsp;2842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57948 |
| Skyward Specialty Insurance Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38835 |
| Stewart Information Services Corp. | &nbsp;&nbsp;&nbsp;&nbsp;466 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30337 |
| The Allstate Corp. | &nbsp;&nbsp;4390 | &nbsp;&nbsp;&nbsp;&nbsp;883751 |
| The Baldwin Insurance Group, Inc. (A) | &nbsp;&nbsp;1139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48761 |
| The Hanover Insurance Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99884 |
| The Hartford Insurance Group, Inc. | &nbsp;&nbsp;4699 | &nbsp;&nbsp;&nbsp;&nbsp;596162 |
| The Progressive Corp. | &nbsp;&nbsp;9725 | &nbsp;&nbsp;&nbsp;2595214 |
| The Travelers Companies, Inc. | &nbsp;&nbsp;3756 | &nbsp;&nbsp;&nbsp;1004880 |
| Tiptree, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;726 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17119 |
| Trupanion, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39631 |
| TWFG, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;311 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10885 |
| United Fire Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13719 |
| Universal Insurance Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;536 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14863 |
| Unum Group | &nbsp;&nbsp;2921 | &nbsp;&nbsp;&nbsp;&nbsp;235900 |
| W.R. Berkley Corp. | &nbsp;&nbsp;6297 | &nbsp;&nbsp;&nbsp;&nbsp;462641 |
| White Mountains Insurance Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77216 |
|  |  | 20355248 |
| **Mortgage real estate investment trusts – 0.1%** | **Mortgage real estate investment trusts – 0.1%** |  |
| AGNC Investment Corp. | 14928 | &nbsp;&nbsp;&nbsp;&nbsp;137188 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 153 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Total Stock Market Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Mortgage real estate investment trusts (continued)** | **Mortgage real estate investment trusts (continued)** |  |
| Angel Oak Mortgage REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;592 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5577 |
| Annaly Capital Management, Inc. | &nbsp;&nbsp;9394 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176795 |
| Apollo Commercial Real Estate Finance, Inc. | &nbsp;&nbsp;2572 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24897 |
| Arbor Realty Trust, Inc. | &nbsp;&nbsp;3101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33181 |
| Ares Commercial Real Estate Corp. | &nbsp;&nbsp;1596 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7613 |
| ARMOUR Residential REIT, Inc. | &nbsp;&nbsp;1182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19869 |
| Blackstone Mortgage Trust, Inc., Class A | &nbsp;&nbsp;2806 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54016 |
| BrightSpire Capital, Inc. | &nbsp;&nbsp;2670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13484 |
| Chicago Atlantic Real Estate Finance, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;487 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6799 |
| Chimera Investment Corp. | &nbsp;&nbsp;1401 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19432 |
| Claros Mortgage Trust, Inc. | &nbsp;&nbsp;2663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7590 |
| Dynex Capital, Inc. | &nbsp;&nbsp;1251 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15287 |
| Ellington Financial, Inc. | &nbsp;&nbsp;1430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18576 |
| Franklin BSP Realty Trust, Inc. | &nbsp;&nbsp;1579 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16880 |
| Invesco Mortgage Capital, Inc. | &nbsp;&nbsp;1108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8687 |
| KKR Real Estate Finance Trust, Inc. | &nbsp;&nbsp;1247 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10936 |
| Ladder Capital Corp. | &nbsp;&nbsp;2295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24671 |
| MFA Financial, Inc. | &nbsp;&nbsp;1735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16413 |
| New York Mortgage Trust, Inc. | &nbsp;&nbsp;1886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12636 |
| Orchid Island Capital, Inc. | &nbsp;&nbsp;1742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12211 |
| PennyMac Mortgage Investment Trust | &nbsp;&nbsp;1447 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18608 |
| Ready Capital Corp. | &nbsp;&nbsp;3110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13591 |
| Redwood Trust, Inc. | &nbsp;&nbsp;2543 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15029 |
| Rithm Capital Corp. | &nbsp;&nbsp;8412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94971 |
| Starwood Property Trust, Inc. | &nbsp;&nbsp;5464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109662 |
| TPG RE Finance Trust, Inc. | &nbsp;&nbsp;1457 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11248 |
| Two Harbors Investment Corp. | &nbsp;&nbsp;1657 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17846 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;923693 |
|  |  | 151649564 |
| **Health care – 9.3%** |  |  |
| **Biotechnology – 1.9%** | **Biotechnology – 1.9%** |  |
| 89bio, Inc. (A) | &nbsp;&nbsp;2525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24796 |
| AbbVie, Inc. | 29302 | &nbsp;&nbsp;&nbsp;&nbsp;5439037 |
| Abeona Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;918 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5214 |
| Absci Corp. (A)(B) | &nbsp;&nbsp;2048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5263 |
| ACADIA Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;2762 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59576 |
| ADMA Biologics, Inc. (A) | &nbsp;&nbsp;3915 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71292 |
| Aduro Biotech, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;312 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;437 |
| Agios Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31763 |
| Akebia Therapeutics, Inc. (A) | &nbsp;&nbsp;3836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13963 |
| Akero Therapeutics, Inc. (A) | &nbsp;&nbsp;1259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67180 |
| Akouos, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;912 |
| Albireo Pharma, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;301 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;647 |
| Alkermes PLC (A) | &nbsp;&nbsp;2678 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76618 |
| Allogene Therapeutics, Inc. (A) | &nbsp;&nbsp;3896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4402 |
| Alnylam Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;2148 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700441 |
| Altimmune, Inc. (A)(B) | &nbsp;&nbsp;1351 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5228 |
| Ambit Biosciences Corp. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;278 |
| Amgen, Inc. | &nbsp;&nbsp;8912 | &nbsp;&nbsp;&nbsp;&nbsp;2488320 |
| Amicus Therapeutics, Inc. (A) | &nbsp;&nbsp;5156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29544 |
| AnaptysBio, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;532 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11810 |
| Anavex Life Sciences Corp. (A)(B) | &nbsp;&nbsp;1454 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13406 |
| Apellis Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;2063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35711 |
| Apogee Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;757 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32877 |
| Arbutus Biopharma Corp. (A) | &nbsp;&nbsp;3609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11152 |
| Arcellx, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;911 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59989 |
| Arcturus Therapeutics Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6726 |
| Arcus Biosciences, Inc. (A) | &nbsp;&nbsp;1874 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15254 |
| Arcutis Biotherapeutics, Inc. (A) | &nbsp;&nbsp;1977 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27718 |
| Ardelyx, Inc. (A) | &nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15680 |
| ArriVent Biopharma, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;634 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13802 |
| Arrowhead Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;2141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33828 |
| ARS Pharmaceuticals, Inc. (A)(B) | &nbsp;&nbsp;1634 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28513 |
| Astria Therapeutics, Inc. (A) | &nbsp;&nbsp;1152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6175 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Biotechnology (continued)** | **Biotechnology (continued)** |  |
| aTyr Pharma, Inc. (A) | &nbsp;&nbsp;1663 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8431 |
| Aura Biosciences, Inc. (A) | &nbsp;&nbsp;1149 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7193 |
| Avidity Biosciences, Inc. (A) | &nbsp;&nbsp;2002 | &nbsp;&nbsp;&nbsp;&nbsp;56857 |
| Beam Therapeutics, Inc. (A) | &nbsp;&nbsp;1407 | &nbsp;&nbsp;&nbsp;&nbsp;23933 |
| Benitec Biopharma, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;386 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4516 |
| Bicara Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;972 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9030 |
| BioCryst Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;3483 | &nbsp;&nbsp;&nbsp;&nbsp;31208 |
| Biogen, Inc. (A) | &nbsp;&nbsp;2413 | &nbsp;&nbsp;&nbsp;&nbsp;303049 |
| Biohaven, Ltd. (A) | &nbsp;&nbsp;1700 | &nbsp;&nbsp;&nbsp;&nbsp;23987 |
| BioMarin Pharmaceutical, Inc. (A) | &nbsp;&nbsp;3145 | &nbsp;&nbsp;&nbsp;&nbsp;172881 |
| Bluebird Bio, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;406 |
| Blueprint Medicines Corp. (A) | &nbsp;&nbsp;1057 | &nbsp;&nbsp;&nbsp;&nbsp;135486 |
| Bridgebio Pharma, Inc. (A) | &nbsp;&nbsp;3159 | &nbsp;&nbsp;&nbsp;&nbsp;136406 |
| Capricor Therapeutics, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;774 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7686 |
| CareDx, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;902 | &nbsp;&nbsp;&nbsp;&nbsp;17625 |
| Catalyst Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;2007 | &nbsp;&nbsp;&nbsp;&nbsp;43552 |
| Celcuity, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp;10013 |
| Celldex Therapeutics, Inc. (A) | &nbsp;&nbsp;1143 | &nbsp;&nbsp;&nbsp;&nbsp;23260 |
| CG Oncology, Inc. (A) | &nbsp;&nbsp;1302 | &nbsp;&nbsp;&nbsp;&nbsp;33852 |
| Checkpoint Therapeutics, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;923 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148 |
| Chinook Therapeutics, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1352 |
| Cogent Biosciences, Inc. (A) | &nbsp;&nbsp;2052 | &nbsp;&nbsp;&nbsp;&nbsp;14733 |
| Compass Therapeutics, Inc. (A) | &nbsp;&nbsp;2573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6690 |
| Concert Pharmaceuticals, Inc. (A)(C) | &nbsp;&nbsp;1064 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;394 |
| Crinetics Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;1552 | &nbsp;&nbsp;&nbsp;&nbsp;44636 |
| Cullinan Therapeutics, Inc. (A) | &nbsp;&nbsp;1067 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8035 |
| Cyteir Therapeutics, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Cytokinetics, Inc. (A) | &nbsp;&nbsp;1970 | &nbsp;&nbsp;&nbsp;&nbsp;65089 |
| CytomX Therapeutics, Inc. (A) | &nbsp;&nbsp;2501 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5677 |
| Day One Biopharmaceuticals, Inc. (A) | &nbsp;&nbsp;1781 | &nbsp;&nbsp;&nbsp;&nbsp;11577 |
| Denali Therapeutics, Inc. (A) | &nbsp;&nbsp;2504 | &nbsp;&nbsp;&nbsp;&nbsp;35031 |
| Dianthus Therapeutics, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;527 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9818 |
| Disc Medicine, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;581 | &nbsp;&nbsp;&nbsp;&nbsp;30770 |
| Dynavax Technologies Corp. (A) | &nbsp;&nbsp;2073 | &nbsp;&nbsp;&nbsp;&nbsp;20564 |
| Dyne Therapeutics, Inc. (A) | &nbsp;&nbsp;1935 | &nbsp;&nbsp;&nbsp;&nbsp;18421 |
| Emergent BioSolutions, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6023 |
| Erasca, Inc. (A) | &nbsp;&nbsp;5484 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6965 |
| Exact Sciences Corp. (A) | &nbsp;&nbsp;3083 | &nbsp;&nbsp;&nbsp;&nbsp;163831 |
| Exelixis, Inc. (A) | &nbsp;&nbsp;4628 | &nbsp;&nbsp;&nbsp;&nbsp;203979 |
| Flexion Therapeutics, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;867 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390 |
| Geron Corp. (A) | 10825 | &nbsp;&nbsp;&nbsp;&nbsp;15263 |
| Gilead Sciences, Inc. | 20676 | 2292348 |
| Gossamer Bio, Inc. (A) | &nbsp;&nbsp;4339 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5337 |
| GRAIL, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;562 | &nbsp;&nbsp;&nbsp;&nbsp;28898 |
| GTX Corp. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Gyre Therapeutics, Inc. (A)(B) | &nbsp;&nbsp;1460 | &nbsp;&nbsp;&nbsp;&nbsp;10731 |
| Halozyme Therapeutics, Inc. (A) | &nbsp;&nbsp;2033 | &nbsp;&nbsp;&nbsp;&nbsp;105757 |
| Heron Therapeutics, Inc. (A) | &nbsp;&nbsp;2650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5486 |
| Humacyte, Inc. (A)(B) | &nbsp;&nbsp;2385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4985 |
| Icosavax, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;737 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228 |
| Ideaya Biosciences, Inc. (A) | &nbsp;&nbsp;1520 | &nbsp;&nbsp;&nbsp;&nbsp;31950 |
| Immunome, Inc. (A) | &nbsp;&nbsp;1474 | &nbsp;&nbsp;&nbsp;&nbsp;13708 |
| Immunovant, Inc. (A) | &nbsp;&nbsp;2870 | &nbsp;&nbsp;&nbsp;&nbsp;45920 |
| Incyte Corp. (A) | &nbsp;&nbsp;3198 | &nbsp;&nbsp;&nbsp;&nbsp;217784 |
| Inhibrx, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;463 |
| Insmed, Inc. (A) | &nbsp;&nbsp;3004 | &nbsp;&nbsp;&nbsp;&nbsp;302323 |
| Intellia Therapeutics, Inc. (A) | &nbsp;&nbsp;1787 | &nbsp;&nbsp;&nbsp;&nbsp;16762 |
| Ionis Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;2643 | &nbsp;&nbsp;&nbsp;&nbsp;104425 |
| Iovance Biotherapeutics, Inc. (A)(B) | &nbsp;&nbsp;5514 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9484 |
| iTeos Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;799 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7966 |
| Janux Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;990 | &nbsp;&nbsp;&nbsp;&nbsp;22869 |
| KalVista Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;898 | &nbsp;&nbsp;&nbsp;&nbsp;10152 |
| Keros Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;726 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9692 |
| Kiniksa Pharmaceuticals International PLC (A) | &nbsp;&nbsp;&nbsp;&nbsp;714 | &nbsp;&nbsp;&nbsp;&nbsp;19756 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 154 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Total Stock Market Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Biotechnology (continued)** | **Biotechnology (continued)** |  |
| Kinnate Biopharma, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;772 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48 |
| Krystal Biotech, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp;&nbsp;65294 |
| Kura Oncology, Inc. (A) | &nbsp;&nbsp;1482 | &nbsp;&nbsp;&nbsp;&nbsp;8551 |
| Kymera Therapeutics, Inc. (A) | &nbsp;&nbsp;1101 | &nbsp;&nbsp;&nbsp;48048 |
| Legend Biotech Corp., ADR (A) | &nbsp;&nbsp;3073 | 109061 |
| Lexicon Pharmaceuticals, Inc. (A)(B) | &nbsp;&nbsp;6924 | &nbsp;&nbsp;&nbsp;&nbsp;6548 |
| Lineage Cell Therapeutics, Inc. (A)(B) | &nbsp;&nbsp;6217 | &nbsp;&nbsp;&nbsp;&nbsp;5641 |
| Madrigal Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;366 | 110766 |
| Magenta Therapeutics, Inc. (A)(C) | &nbsp;&nbsp;2418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118 |
| MannKind Corp. (A) | &nbsp;&nbsp;5040 | &nbsp;&nbsp;&nbsp;18850 |
| MeiraGTx Holdings PLC (A) | &nbsp;&nbsp;1468 | &nbsp;&nbsp;&nbsp;&nbsp;9571 |
| Merrimack Pharmaceuticals, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 |
| MiMedx Group, Inc. (A) | &nbsp;&nbsp;2579 | &nbsp;&nbsp;&nbsp;15758 |
| Mineralys Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;905 | &nbsp;&nbsp;&nbsp;12245 |
| Mirati Therapeutics, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;902 | &nbsp;&nbsp;&nbsp;&nbsp;3189 |
| Mirum Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;814 | &nbsp;&nbsp;&nbsp;41424 |
| Moderna, Inc. (A) | &nbsp;&nbsp;6407 | 176769 |
| Monte Rosa Therapeutics, Inc. (A) | &nbsp;&nbsp;1148 | &nbsp;&nbsp;&nbsp;&nbsp;5177 |
| Myriad Genetics, Inc. (A) | &nbsp;&nbsp;1575 | &nbsp;&nbsp;&nbsp;&nbsp;8363 |
| Natera, Inc. (A) | &nbsp;&nbsp;2242 | 378763 |
| Neurocrine Biosciences, Inc. (A) | &nbsp;&nbsp;1642 | 206383 |
| Neurogene, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;385 | &nbsp;&nbsp;&nbsp;&nbsp;5756 |
| Novavax, Inc. (A) | &nbsp;&nbsp;2691 | &nbsp;&nbsp;&nbsp;16953 |
| Nurix Therapeutics, Inc. (A) | &nbsp;&nbsp;1310 | &nbsp;&nbsp;&nbsp;14921 |
| Nuvalent, Inc., Class A (A) | &nbsp;&nbsp;1102 | &nbsp;&nbsp;&nbsp;84083 |
| Ocugen, Inc. (A)(B) | &nbsp;&nbsp;5417 | &nbsp;&nbsp;&nbsp;&nbsp;5257 |
| Olema Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;1291 | &nbsp;&nbsp;&nbsp;&nbsp;5500 |
| Organogenesis Holdings, Inc. (A) | &nbsp;&nbsp;2294 | &nbsp;&nbsp;&nbsp;&nbsp;8396 |
| ORIC Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;1322 | &nbsp;&nbsp;&nbsp;13418 |
| Oruka Therapeutics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;673 | &nbsp;&nbsp;&nbsp;&nbsp;7544 |
| Paratek Pharmaceuticals, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;901 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72 |
| Pardes Biosciences, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;703 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21 |
| PDL BioPharma, Inc. (A)(C) | &nbsp;&nbsp;1734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;277 |
| Praxis Precision Medicines, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;319 | &nbsp;&nbsp;&nbsp;13414 |
| Precigen, Inc. (A)(B) | &nbsp;&nbsp;5385 | &nbsp;&nbsp;&nbsp;&nbsp;7647 |
| Protagonist Therapeutics, Inc. (A) | &nbsp;&nbsp;1023 | &nbsp;&nbsp;&nbsp;56541 |
| Prothena Corp. PLC (A) | &nbsp;&nbsp;&nbsp;&nbsp;984 | &nbsp;&nbsp;&nbsp;&nbsp;5973 |
| PTC Therapeutics, Inc. (A) | &nbsp;&nbsp;1314 | &nbsp;&nbsp;&nbsp;64176 |
| Recursion Pharmaceuticals, Inc., Class A (A)(B) | &nbsp;&nbsp;6390 | &nbsp;&nbsp;&nbsp;32333 |
| Regeneron Pharmaceuticals, Inc. | &nbsp;&nbsp;1782 | 935550 |
| REGENXBIO, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;936 | &nbsp;&nbsp;&nbsp;&nbsp;7685 |
| Regulus Therapeutics, Inc. (A)(C) | &nbsp;&nbsp;1429 | &nbsp;&nbsp;&nbsp;&nbsp;1658 |
| Relay Therapeutics, Inc. (A) | &nbsp;&nbsp;3295 | &nbsp;&nbsp;&nbsp;11401 |
| Replimune Group, Inc. (A) | &nbsp;&nbsp;1352 | &nbsp;&nbsp;&nbsp;12560 |
| REVOLUTION Medicines, Inc. (A) | &nbsp;&nbsp;3091 | 113718 |
| Rhythm Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;1040 | &nbsp;&nbsp;&nbsp;65718 |
| Rigel Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;311 | &nbsp;&nbsp;&nbsp;&nbsp;5825 |
| Rocket Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;2005 | &nbsp;&nbsp;&nbsp;&nbsp;4912 |
| Sage Therapeutics, Inc. (A) | &nbsp;&nbsp;1119 | &nbsp;&nbsp;&nbsp;10205 |
| Sana Biotechnology, Inc. (A)(B) | &nbsp;&nbsp;4055 | &nbsp;&nbsp;&nbsp;11070 |
| Sarepta Therapeutics, Inc. (A) | &nbsp;&nbsp;1581 | &nbsp;&nbsp;&nbsp;27035 |
| Savara, Inc. (A) | &nbsp;&nbsp;3341 | &nbsp;&nbsp;&nbsp;&nbsp;7617 |
| Scholar Rock Holding Corp. (A) | &nbsp;&nbsp;1584 | &nbsp;&nbsp;&nbsp;56105 |
| Soleno Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;762 | &nbsp;&nbsp;&nbsp;63840 |
| Solid Biosciences, Inc. (A) | &nbsp;&nbsp;1396 | &nbsp;&nbsp;&nbsp;&nbsp;6799 |
| Spectrum Pharmaceuticals, Inc. (A)(C) | &nbsp;&nbsp;3285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263 |
| SpringWorks Therapeutics, Inc. (A) | &nbsp;&nbsp;1248 | &nbsp;&nbsp;&nbsp;58644 |
| Spyre Therapeutics, Inc. (A) | &nbsp;&nbsp;1029 | &nbsp;&nbsp;&nbsp;15404 |
| Stoke Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;943 | &nbsp;&nbsp;&nbsp;10703 |
| Summit Therapeutics, Inc. (A)(B) | 12262 | 260935 |
| Syndax Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;1470 | &nbsp;&nbsp;&nbsp;13767 |
| Synergy Pharmaceuticals, Inc. (A)(C) | &nbsp;&nbsp;6230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18 |
| Tango Therapeutics, Inc. (A) | &nbsp;&nbsp;2208 | &nbsp;&nbsp;&nbsp;11305 |
| Taysha Gene Therapies, Inc. (A)(B) | &nbsp;&nbsp;3653 | &nbsp;&nbsp;&nbsp;&nbsp;8438 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Biotechnology (continued)** | **Biotechnology (continued)** |  |
| Tectonic Therapeutic, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;349 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6935 |
| Tectonic Therapeutic, Inc., CVR (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Tevogen Bio Holdings, Inc. (A)(B) | &nbsp;&nbsp;3029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3786 |
| TG Therapeutics, Inc. (A) | &nbsp;&nbsp;2583 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92962 |
| Tonix Pharmaceuticals Holding Corp. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16119 |
| Tourmaline Bio, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;469 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7499 |
| Travere Therapeutics, Inc. (A) | &nbsp;&nbsp;1488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22022 |
| Twist Bioscience Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;993 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36532 |
| Tyra Biosciences, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;947 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9063 |
| Ultragenyx Pharmaceutical, Inc. (A) | &nbsp;&nbsp;1556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56576 |
| United Therapeutics Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;741 | &nbsp;&nbsp;&nbsp;&nbsp;212926 |
| Upstream Bio, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;966 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10607 |
| UroGen Pharma, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;772 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10576 |
| Vanda Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;1147 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5414 |
| Vaxcyte, Inc. (A) | &nbsp;&nbsp;2157 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70124 |
| Vera Therapeutics, Inc. (A) | &nbsp;&nbsp;1063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25044 |
| Veracyte, Inc. (A) | &nbsp;&nbsp;1297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35058 |
| Vericel Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;832 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35402 |
| Vertex Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;4260 | &nbsp;&nbsp;&nbsp;1896552 |
| Verve Therapeutics, Inc. (A) | &nbsp;&nbsp;1589 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17844 |
| Vigil Neuroscience, Inc. (A) | &nbsp;&nbsp;1011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8037 |
| Viking Therapeutics, Inc. (A) | &nbsp;&nbsp;1868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49502 |
| Vir Biotechnology, Inc. (A) | &nbsp;&nbsp;2474 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12469 |
| Viridian Therapeutics, Inc. (A) | &nbsp;&nbsp;1360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19013 |
| Xencor, Inc. (A) | &nbsp;&nbsp;1310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10297 |
| Zenas Biopharma, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7432 |
| Zymeworks, Inc. (A) | &nbsp;&nbsp;1276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16014 |
|  |  | 20311168 |
| **Health care equipment and supplies – 2.1%** | **Health care equipment and supplies – 2.1%** |  |
| Abbott Laboratories | 28785 | &nbsp;&nbsp;&nbsp;3915048 |
| ABIOMED, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;788 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12230 |
| Align Technology, Inc. (A) | &nbsp;&nbsp;1233 | &nbsp;&nbsp;&nbsp;&nbsp;233444 |
| Alphatec Holdings, Inc. (A) | &nbsp;&nbsp;2421 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26873 |
| AngioDynamics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;766 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7599 |
| Artivion, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22859 |
| AtriCure, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27002 |
| Avanos Medical, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;948 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11604 |
| Axogen, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8344 |
| Baxter International, Inc. | &nbsp;&nbsp;8469 | &nbsp;&nbsp;&nbsp;&nbsp;256441 |
| Becton, Dickinson and Company | &nbsp;&nbsp;4755 | &nbsp;&nbsp;&nbsp;&nbsp;819049 |
| Bioventus, Inc., Class A (A) | &nbsp;&nbsp;1163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7699 |
| Boston Scientific Corp. (A) | 24075 | &nbsp;&nbsp;&nbsp;2585896 |
| Butterfly Network, Inc. (A) | &nbsp;&nbsp;3691 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7382 |
| Ceribell, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;671 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12568 |
| Cerus Corp. (A) | &nbsp;&nbsp;3946 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5564 |
| ClearPoint Neuro, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6161 |
| CONMED Corp. | &nbsp;&nbsp;&nbsp;&nbsp;509 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26509 |
| Delcath Systems, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7752 |
| Dentsply Sirona, Inc. | &nbsp;&nbsp;3273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51975 |
| DexCom, Inc. (A) | &nbsp;&nbsp;6483 | &nbsp;&nbsp;&nbsp;&nbsp;565901 |
| Edwards Lifesciences Corp. (A) | &nbsp;&nbsp;9679 | &nbsp;&nbsp;&nbsp;&nbsp;756995 |
| Embecta Corp. | &nbsp;&nbsp;&nbsp;&nbsp;996 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9651 |
| Enovis Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29259 |
| Envista Holdings Corp. (A) | &nbsp;&nbsp;2862 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55923 |
| Establishment Labs Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20842 |
| GE HealthCare Technologies, Inc. | &nbsp;&nbsp;7539 | &nbsp;&nbsp;&nbsp;&nbsp;558414 |
| Glaukos Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;937 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96783 |
| Globus Medical, Inc., Class A (A) | &nbsp;&nbsp;1889 | &nbsp;&nbsp;&nbsp;&nbsp;111489 |
| Haemonetics Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61852 |
| Hologic, Inc. (A) | &nbsp;&nbsp;3689 | &nbsp;&nbsp;&nbsp;&nbsp;240375 |
| ICU Medical, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53653 |
| IDEXX Laboratories, Inc. (A) | &nbsp;&nbsp;1297 | &nbsp;&nbsp;&nbsp;&nbsp;695633 |
| Inspire Medical Systems, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;492 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63847 |
| Insulet Corp. (A) | &nbsp;&nbsp;1163 | &nbsp;&nbsp;&nbsp;&nbsp;365391 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 155 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Total Stock Market Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Health care equipment and supplies (continued)** | **Health care equipment and supplies (continued)** |  |
| Integer Holdings Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;546 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67142 |
| Integra LifeSciences Holdings Corp. (A) | &nbsp;&nbsp;1299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15939 |
| Intuitive Surgical, Inc. (A) | &nbsp;&nbsp;5919 | &nbsp;&nbsp;&nbsp;3216444 |
| iRadimed Corp. | &nbsp;&nbsp;&nbsp;&nbsp;254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15187 |
| iRhythm Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80367 |
| Lantheus Holdings, Inc. (A) | &nbsp;&nbsp;1136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92993 |
| LeMaitre Vascular, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31227 |
| Masimo Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;895 | &nbsp;&nbsp;&nbsp;&nbsp;150557 |
| Medtronic PLC | 20999 | &nbsp;&nbsp;&nbsp;1830483 |
| Merit Medical Systems, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;959 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89647 |
| Neogen Corp. (A) | &nbsp;&nbsp;3696 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17667 |
| NeuroPace, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6238 |
| Omnicell, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23226 |
| Orthofix Medical, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8128 |
| OrthoPediatrics Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9344 |
| Paragon 28, Inc. (A)(C) | &nbsp;&nbsp;1430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129 |
| Penumbra, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;638 | &nbsp;&nbsp;&nbsp;&nbsp;163730 |
| PROCEPT BioRobotics Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;913 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52589 |
| Pulse Biosciences, Inc. (A)(B) | &nbsp;&nbsp;1052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15875 |
| QuidelOrtho Corp. (A) | &nbsp;&nbsp;1122 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32336 |
| ResMed, Inc. | &nbsp;&nbsp;2435 | &nbsp;&nbsp;&nbsp;&nbsp;628230 |
| RxSight, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9074 |
| Senseonics Holdings, Inc. (A) | 10750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5121 |
| SI-BONE, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;762 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14341 |
| Solventum Corp. (A) | &nbsp;&nbsp;2863 | &nbsp;&nbsp;&nbsp;&nbsp;217130 |
| STAAR Surgical Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14229 |
| STERIS PLC | &nbsp;&nbsp;1610 | &nbsp;&nbsp;&nbsp;&nbsp;386754 |
| Stryker Corp. | &nbsp;&nbsp;6316 | &nbsp;&nbsp;&nbsp;2498799 |
| Surmodics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7546 |
| Tandem Diabetes Care, Inc. (A) | &nbsp;&nbsp;1122 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20914 |
| Teleflex, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90545 |
| The Cooper Companies, Inc. (A) | &nbsp;&nbsp;3303 | &nbsp;&nbsp;&nbsp;&nbsp;235041 |
| TransMedics Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;558 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74778 |
| Treace Medical Concepts, Inc. (A) | &nbsp;&nbsp;1153 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6780 |
| UFP Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31497 |
| Varex Imaging Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;821 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7118 |
| Zimmer Biomet Holdings, Inc. | &nbsp;&nbsp;3282 | &nbsp;&nbsp;&nbsp;&nbsp;299351 |
|  |  | 22204503 |
| **Health care providers and services – 1.7%** | **Health care providers and services – 1.7%** |  |
| Acadia Healthcare Company, Inc. (A) | &nbsp;&nbsp;1549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35147 |
| Aceto Corp. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;853 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| AdaptHealth Corp. (A) | &nbsp;&nbsp;2276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21463 |
| Addus HomeCare Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34903 |
| agilon health, Inc. (A) | &nbsp;&nbsp;6951 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15987 |
| AirSculpt Technologies, Inc. (A)(B) | &nbsp;&nbsp;1378 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6656 |
| Alignment Healthcare, Inc. (A) | &nbsp;&nbsp;3223 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45122 |
| Amedisys, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52245 |
| AMN Healthcare Services, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;660 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13642 |
| Ardent Health, Inc. (A) | &nbsp;&nbsp;2441 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33344 |
| Astrana Health, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;851 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21173 |
| Aveanna Healthcare Holdings, Inc. (A) | &nbsp;&nbsp;3361 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17578 |
| BrightSpring Health Services, Inc. (A) | &nbsp;&nbsp;2916 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68788 |
| Brookdale Senior Living, Inc. (A) | &nbsp;&nbsp;3443 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23963 |
| Cardinal Health, Inc. | &nbsp;&nbsp;3813 | &nbsp;&nbsp;&nbsp;&nbsp;640584 |
| Castle Biosciences, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10190 |
| Cencora, Inc. | &nbsp;&nbsp;3211 | &nbsp;&nbsp;&nbsp;&nbsp;962818 |
| Centene Corp. (A) | &nbsp;&nbsp;8221 | &nbsp;&nbsp;&nbsp;&nbsp;446236 |
| Chemed Corp. | &nbsp;&nbsp;&nbsp;&nbsp;248 | &nbsp;&nbsp;&nbsp;&nbsp;120759 |
| Clover Health Investments Corp. (A) | &nbsp;&nbsp;6910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19279 |
| Community Health Systems, Inc. (A) | &nbsp;&nbsp;2598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8833 |
| Concentra Group Holdings Parent, Inc. | &nbsp;&nbsp;2171 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44657 |
| CorVel Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;866 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89007 |
| Cross Country Healthcare, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;602 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7856 |
| CVS Health Corp. | 20923 | &nbsp;&nbsp;&nbsp;1443269 |
| DaVita, Inc. (A) | &nbsp;&nbsp;1326 | &nbsp;&nbsp;&nbsp;&nbsp;188889 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Health care providers and services (continued)** | **Health care providers and services (continued)** |  |
| Elevance Health, Inc. | &nbsp;&nbsp;3745 | $&nbsp;&nbsp;&nbsp;1456655 |
| Encompass Health Corp. | &nbsp;&nbsp;1642 | &nbsp;&nbsp;&nbsp;&nbsp;201358 |
| Enhabit, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9447 |
| Fulgent Genetics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;587 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11670 |
| GeneDx Holdings Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;468 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43201 |
| Guardant Health, Inc. (A) | &nbsp;&nbsp;2054 | &nbsp;&nbsp;&nbsp;&nbsp;106890 |
| HCA Healthcare, Inc. | &nbsp;&nbsp;4049 | &nbsp;&nbsp;&nbsp;1551172 |
| HealthEquity, Inc. (A) | &nbsp;&nbsp;1440 | &nbsp;&nbsp;&nbsp;&nbsp;150854 |
| Henry Schein, Inc. (A) | &nbsp;&nbsp;2048 | &nbsp;&nbsp;&nbsp;&nbsp;149606 |
| Hims & Hers Health, Inc. (A)(B) | &nbsp;&nbsp;3547 | &nbsp;&nbsp;&nbsp;&nbsp;176818 |
| Humana, Inc. | &nbsp;&nbsp;2001 | &nbsp;&nbsp;&nbsp;&nbsp;489204 |
| Innovage Holding Corp. (A) | &nbsp;&nbsp;1986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7328 |
| Labcorp Holdings, Inc. | &nbsp;&nbsp;1382 | &nbsp;&nbsp;&nbsp;&nbsp;362789 |
| LifeStance Health Group, Inc. (A) | &nbsp;&nbsp;6550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33864 |
| McKesson Corp. | &nbsp;&nbsp;2068 | &nbsp;&nbsp;&nbsp;1515389 |
| Molina Healthcare, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;921 | &nbsp;&nbsp;&nbsp;&nbsp;274366 |
| National HealthCare Corp. | &nbsp;&nbsp;&nbsp;&nbsp;269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28786 |
| National Research Corp. | &nbsp;&nbsp;&nbsp;&nbsp;562 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9442 |
| NeoGenomics, Inc. (A) | &nbsp;&nbsp;2227 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16279 |
| Nutex Health, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;94 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11702 |
| OPKO Health, Inc. (A) | 11857 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15651 |
| Option Care Health, Inc. (A) | &nbsp;&nbsp;2742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89060 |
| Owens & Minor, Inc. (A) | &nbsp;&nbsp;1333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12130 |
| PACS Group, Inc. (A) | &nbsp;&nbsp;2681 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34639 |
| Pediatrix Medical Group, Inc. (A) | &nbsp;&nbsp;1478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21209 |
| Premier, Inc., Class A | &nbsp;&nbsp;1534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33641 |
| Privia Health Group, Inc. (A) | &nbsp;&nbsp;2038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46874 |
| Progyny, Inc. (A) | &nbsp;&nbsp;1426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31372 |
| Quest Diagnostics, Inc. | &nbsp;&nbsp;1832 | &nbsp;&nbsp;&nbsp;&nbsp;329082 |
| RadNet, Inc. (A) | &nbsp;&nbsp;1233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70170 |
| Select Medical Holdings Corp. | &nbsp;&nbsp;2192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33275 |
| Sonida Senior Living, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;302 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7535 |
| Surgery Partners, Inc. (A) | &nbsp;&nbsp;2132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47394 |
| Talkspace, Inc. (A) | &nbsp;&nbsp;3056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8496 |
| Tenet Healthcare Corp. (A) | &nbsp;&nbsp;1573 | &nbsp;&nbsp;&nbsp;&nbsp;276848 |
| The Cigna Group | &nbsp;&nbsp;4542 | &nbsp;&nbsp;&nbsp;1501494 |
| The Ensign Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;950 | &nbsp;&nbsp;&nbsp;&nbsp;146547 |
| The Pennant Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18656 |
| UnitedHealth Group, Inc. | 15183 | &nbsp;&nbsp;&nbsp;4736641 |
| Universal Health Services, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;932 | &nbsp;&nbsp;&nbsp;&nbsp;168832 |
| US Physical Therapy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21583 |
| Viemed Healthcare, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;951 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6571 |
|  |  | 18636908 |
| **Health care technology – 0.1%** | **Health care technology – 0.1%** |  |
| Certara, Inc. (A) | &nbsp;&nbsp;2753 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32210 |
| Claritev Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;289 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13043 |
| Definitive Healthcare Corp. (A) | &nbsp;&nbsp;2412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9407 |
| Doximity, Inc., Class A (A) | &nbsp;&nbsp;2219 | &nbsp;&nbsp;&nbsp;&nbsp;136113 |
| Evolent Health, Inc., Class A (A) | &nbsp;&nbsp;1983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22329 |
| Health Catalyst, Inc. (A) | &nbsp;&nbsp;1453 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5478 |
| HealthStream, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15800 |
| LifeMD, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;786 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10705 |
| Phreesia, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27891 |
| Schrodinger, Inc. (A) | &nbsp;&nbsp;1087 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21870 |
| Simulations Plus, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6282 |
| Teladoc Health, Inc. (A) | &nbsp;&nbsp;2916 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25398 |
| TruBridge, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6604 |
| Veeva Systems, Inc., Class A (A) | &nbsp;&nbsp;2693 | &nbsp;&nbsp;&nbsp;&nbsp;775530 |
| Waystar Holding Corp. (A) | &nbsp;&nbsp;2859 | &nbsp;&nbsp;&nbsp;&nbsp;116847 |
|  |  | &nbsp;&nbsp;&nbsp;1225507 |
| **Life sciences tools and services – 0.8%** | **Life sciences tools and services – 0.8%** |  |
| 10X Genomics, Inc., Class A (A) | &nbsp;&nbsp;1887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21851 |
| Adaptive Biotechnologies Corp. (A) | &nbsp;&nbsp;2537 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29556 |
| Agilent Technologies, Inc. | &nbsp;&nbsp;4718 | &nbsp;&nbsp;&nbsp;&nbsp;556771 |
| Alpha Teknova, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;977 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4797 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 156 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Total Stock Market Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Life sciences tools and services (continued)** | **Life sciences tools and services (continued)** |  |
| Avantor, Inc. (A) | 11253 | $&nbsp;&nbsp;&nbsp;&nbsp;151465 |
| Azenta, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;774 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23824 |
| BioLife Solutions, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;801 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17254 |
| Bio-Rad Laboratories, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91460 |
| Bio-Techne Corp. | &nbsp;&nbsp;2612 | &nbsp;&nbsp;&nbsp;&nbsp;134387 |
| Bruker Corp. | &nbsp;&nbsp;2510 | &nbsp;&nbsp;&nbsp;&nbsp;103412 |
| Charles River Laboratories International, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;842 | &nbsp;&nbsp;&nbsp;&nbsp;127757 |
| CryoPort, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;951 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7094 |
| Cytek Biosciences, Inc. (A) | &nbsp;&nbsp;2411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8197 |
| Danaher Corp. | 11858 | &nbsp;&nbsp;&nbsp;2342429 |
| Fortrea Holdings, Inc. (A) | &nbsp;&nbsp;1556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7687 |
| Illumina, Inc. (A) | &nbsp;&nbsp;2624 | &nbsp;&nbsp;&nbsp;&nbsp;250356 |
| IQVIA Holdings, Inc. (A) | &nbsp;&nbsp;2906 | &nbsp;&nbsp;&nbsp;&nbsp;457957 |
| Lifecore Biomedical, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6228 |
| Maravai LifeSciences Holdings, Inc., Class A (A) | &nbsp;&nbsp;2678 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6454 |
| Medpace Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;503 | &nbsp;&nbsp;&nbsp;&nbsp;157872 |
| Mesa Laboratories, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;99 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9328 |
| Mettler-Toledo International, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;346 | &nbsp;&nbsp;&nbsp;&nbsp;406453 |
| Niagen Bioscience, Inc. (A) | &nbsp;&nbsp;1352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19482 |
| OmniAb, Inc. (A) | &nbsp;&nbsp;3102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5397 |
| OmniAb, Inc., $12.50 Earnout Shares (A) | &nbsp;&nbsp;&nbsp;&nbsp;117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79 |
| OmniAb, Inc., $15.00 Earnout Shares (A) | &nbsp;&nbsp;&nbsp;&nbsp;117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67 |
| Pacific Biosciences of California, Inc. (A)(B) | &nbsp;&nbsp;4764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5907 |
| Personalis, Inc. (A) | &nbsp;&nbsp;1286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8436 |
| Repligen Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;928 | &nbsp;&nbsp;&nbsp;&nbsp;115425 |
| Revvity, Inc. | &nbsp;&nbsp;1979 | &nbsp;&nbsp;&nbsp;&nbsp;191409 |
| Sotera Health Company (A) | &nbsp;&nbsp;4809 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53476 |
| Standard BioTools, Inc. (A) | &nbsp;&nbsp;6836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8203 |
| Tempus AI, Inc. (A)(B) | &nbsp;&nbsp;2777 | &nbsp;&nbsp;&nbsp;&nbsp;176451 |
| Thermo Fisher Scientific, Inc. | &nbsp;&nbsp;6258 | &nbsp;&nbsp;&nbsp;2537369 |
| Waters Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;983 | &nbsp;&nbsp;&nbsp;&nbsp;343106 |
| West Pharmaceutical Services, Inc. | &nbsp;&nbsp;1203 | &nbsp;&nbsp;&nbsp;&nbsp;263216 |
|  |  | &nbsp;&nbsp;&nbsp;8650612 |
| **Pharmaceuticals – 2.7%** | **Pharmaceuticals – 2.7%** |  |
| Alexza Pharmaceuticals, Inc. (A)(C) | &nbsp;&nbsp;2067 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72 |
| Alumis, Inc. (A)(B) | &nbsp;&nbsp;1727 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5181 |
| Amneal Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;5244 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42424 |
| Amphastar Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;797 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18299 |
| Amylyx Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;1577 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10109 |
| ANI Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22772 |
| Aquestive Therapeutics, Inc. (A) | &nbsp;&nbsp;1640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5428 |
| Arvinas, Inc. (A) | &nbsp;&nbsp;1271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9355 |
| Atea Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;2137 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7693 |
| Axsome Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;809 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84452 |
| Belite Bio, Inc., ADR (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31447 |
| Bristol-Myers Squibb Company | 33680 | &nbsp;&nbsp;&nbsp;1559047 |
| CinCor Pharma, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2166 |
| Collegium Pharmaceutical, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;527 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15583 |
| Corcept Therapeutics, Inc. (A) | &nbsp;&nbsp;1757 | &nbsp;&nbsp;&nbsp;&nbsp;128964 |
| CorMedix, Inc. (A) | &nbsp;&nbsp;1075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13244 |
| Edgewise Therapeutics, Inc. (A) | &nbsp;&nbsp;1601 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20989 |
| Elanco Animal Health, Inc. (A) | &nbsp;&nbsp;8209 | &nbsp;&nbsp;&nbsp;&nbsp;117225 |
| Eli Lilly & Company | 15697 | 12236282 |
| Enliven Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17051 |
| Eton Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;498 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7097 |
| Evolus, Inc. (A) | &nbsp;&nbsp;1101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10140 |
| EyePoint Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;1192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11217 |
| Fulcrum Therapeutics, Inc. (A) | &nbsp;&nbsp;1126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7747 |
| Harmony Biosciences Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;957 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30241 |
| Harrow, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18416 |
| Imara, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92 |
| Innoviva, Inc. (A) | &nbsp;&nbsp;1064 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21376 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** |  |
| Jazz Pharmaceuticals PLC (A) | &nbsp;&nbsp;&nbsp;&nbsp;993 | $&nbsp;&nbsp;&nbsp;&nbsp;105377 |
| Johnson & Johnson | 39957 | &nbsp;&nbsp;&nbsp;6103432 |
| LENZ Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;487 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14274 |
| Ligand Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36719 |
| Liquidia Corp. (A) | &nbsp;&nbsp;1444 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17992 |
| MBX Biosciences, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7439 |
| Merck & Company, Inc. | 41919 | &nbsp;&nbsp;&nbsp;3318308 |
| Mind Medicine MindMed, Inc. (A)(B) | &nbsp;&nbsp;1308 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8489 |
| Nuvation Bio, Inc. (A)(B) | &nbsp;&nbsp;5899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11503 |
| Ocular Therapeutix, Inc. (A) | &nbsp;&nbsp;2668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24759 |
| Oculis Holding AG (A) | &nbsp;&nbsp;&nbsp;&nbsp;857 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16634 |
| Opiant Pharmaceuticals, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;87 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57 |
| Optinose, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138 |
| Organon & Company | &nbsp;&nbsp;4225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40898 |
| Pacira BioSciences, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18738 |
| Perrigo Company PLC | &nbsp;&nbsp;2246 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60013 |
| Pfizer, Inc. | 93955 | &nbsp;&nbsp;&nbsp;2277469 |
| Phathom Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;1218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11681 |
| Phibro Animal Health Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9986 |
| Poseida Therapeutics, Inc. (A)(C) | &nbsp;&nbsp;1586 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;793 |
| Prestige Consumer Healthcare, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;817 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65237 |
| Prevail Therapeutics, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;788 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1516 |
| Rapport Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;678 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7709 |
| Royalty Pharma PLC, Class A | &nbsp;&nbsp;7145 | &nbsp;&nbsp;&nbsp;&nbsp;257434 |
| scPharmaceuticals, Inc. (A) | &nbsp;&nbsp;1608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6126 |
| Septerna, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;819 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8657 |
| SIGA Technologies, Inc. | &nbsp;&nbsp;1279 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8339 |
| Structure Therapeutics, Inc., ADR (A) | &nbsp;&nbsp;&nbsp;&nbsp;978 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20284 |
| Supernus Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29408 |
| Tarsus Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25926 |
| Terns Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;1652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6162 |
| Theravance Biopharma, Inc. (A) | &nbsp;&nbsp;1049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11570 |
| Tilray Brands, Inc. (A)(B) | 16232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6727 |
| Tobira Therapeutics, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Trevi Therapeutics, Inc. (A) | &nbsp;&nbsp;1575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8615 |
| Viatris, Inc. | 19813 | &nbsp;&nbsp;&nbsp;&nbsp;176930 |
| Xeris Biopharma Holdings, Inc. (A) | &nbsp;&nbsp;2570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12002 |
| Zevra Therapeutics, Inc. (A) | &nbsp;&nbsp;1018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8969 |
| Zoetis, Inc. | &nbsp;&nbsp;7428 | &nbsp;&nbsp;&nbsp;1158397 |
|  |  | 28358816 |
|  |  | 99387514 |
| **Industrials – 9.4%** |  |  |
| **Aerospace and defense – 2.1%** | **Aerospace and defense – 2.1%** |  |
| AAR Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;611 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42031 |
| AeroVironment, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;468 | &nbsp;&nbsp;&nbsp;&nbsp;133357 |
| AerSale Corp. (A) | &nbsp;&nbsp;1048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6298 |
| Archer Aviation, Inc., Class A (A) | &nbsp;&nbsp;7067 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76677 |
| Astronics Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18213 |
| ATI, Inc. (A) | &nbsp;&nbsp;2355 | &nbsp;&nbsp;&nbsp;&nbsp;203331 |
| Axon Enterprise, Inc. (A) | &nbsp;&nbsp;1272 | &nbsp;&nbsp;&nbsp;1053140 |
| BWX Technologies, Inc. | &nbsp;&nbsp;1511 | &nbsp;&nbsp;&nbsp;&nbsp;217675 |
| Byrna Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;392 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12105 |
| Cadre Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;699 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22263 |
| Curtiss-Wright Corp. | &nbsp;&nbsp;&nbsp;&nbsp;620 | &nbsp;&nbsp;&nbsp;&nbsp;302901 |
| Ducommun, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23136 |
| Eve Holding, Inc. (A)(B) | &nbsp;&nbsp;4714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32338 |
| General Dynamics Corp. | &nbsp;&nbsp;4484 | &nbsp;&nbsp;&nbsp;1307803 |
| General Electric Company | 17817 | &nbsp;&nbsp;&nbsp;4585918 |
| HEICO Corp. | &nbsp;&nbsp;&nbsp;&nbsp;870 | &nbsp;&nbsp;&nbsp;&nbsp;285360 |
| HEICO Corp., Class A | &nbsp;&nbsp;1452 | &nbsp;&nbsp;&nbsp;&nbsp;375705 |
| Hexcel Corp. | &nbsp;&nbsp;1335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75414 |
| Howmet Aerospace, Inc. | &nbsp;&nbsp;6719 | &nbsp;&nbsp;&nbsp;1250607 |
| Huntington Ingalls Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;646 | &nbsp;&nbsp;&nbsp;&nbsp;155983 |
| Intuitive Machines, Inc. (A) | &nbsp;&nbsp;1522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16544 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 157 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Total Stock Market Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Aerospace and defense (continued)** | **Aerospace and defense (continued)** |  |
| Kratos Defense & Security Solutions, Inc. (A) | &nbsp;&nbsp;2552 | $&nbsp;&nbsp;&nbsp;&nbsp;118540 |
| L3Harris Technologies, Inc. | &nbsp;&nbsp;3121 | &nbsp;&nbsp;&nbsp;&nbsp;782872 |
| Leonardo DRS, Inc. | &nbsp;&nbsp;4425 | &nbsp;&nbsp;&nbsp;&nbsp;205674 |
| Loar Holdings, Inc. (A) | &nbsp;&nbsp;1560 | &nbsp;&nbsp;&nbsp;&nbsp;134425 |
| Lockheed Martin Corp. | &nbsp;&nbsp;3906 | &nbsp;&nbsp;&nbsp;1809025 |
| Mercury Systems, Inc. (A) | &nbsp;&nbsp;1004 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54075 |
| Moog, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85599 |
| National Presto Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;137 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13421 |
| Northrop Grumman Corp. | &nbsp;&nbsp;2401 | &nbsp;&nbsp;&nbsp;1200452 |
| Redwire Corp. (A) | &nbsp;&nbsp;1170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19071 |
| Rocket Lab Corp. (A)(B) | &nbsp;&nbsp;8306 | &nbsp;&nbsp;&nbsp;&nbsp;297106 |
| RTX Corp. | 22110 | &nbsp;&nbsp;&nbsp;3228502 |
| Spirit AeroSystems Holdings, Inc., Class A (A) | &nbsp;&nbsp;1951 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74431 |
| StandardAero, Inc. (A) | &nbsp;&nbsp;5602 | &nbsp;&nbsp;&nbsp;&nbsp;177303 |
| Textron, Inc. | &nbsp;&nbsp;3006 | &nbsp;&nbsp;&nbsp;&nbsp;241352 |
| The Boeing Company (A) | 12451 | &nbsp;&nbsp;&nbsp;2608858 |
| TransDigm Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;931 | &nbsp;&nbsp;&nbsp;1415716 |
| Triumph Group, Inc. (A) | &nbsp;&nbsp;1293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33295 |
| V2X, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26557 |
| Woodward, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;983 | &nbsp;&nbsp;&nbsp;&nbsp;240923 |
|  |  | 22963996 |
| **Air freight and logistics – 0.3%** | **Air freight and logistics – 0.3%** |  |
| CH Robinson Worldwide, Inc. | &nbsp;&nbsp;1972 | &nbsp;&nbsp;&nbsp;&nbsp;189213 |
| Expeditors International of Washington, Inc. | &nbsp;&nbsp;2292 | &nbsp;&nbsp;&nbsp;&nbsp;261861 |
| FedEx Corp. | &nbsp;&nbsp;3996 | &nbsp;&nbsp;&nbsp;&nbsp;908331 |
| Forward Air Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;527 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12933 |
| GXO Logistics, Inc. (A) | &nbsp;&nbsp;2006 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97692 |
| Hub Group, Inc., Class A | &nbsp;&nbsp;1054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35235 |
| United Parcel Service, Inc., Class B | 12290 | &nbsp;&nbsp;&nbsp;1240553 |
|  |  | &nbsp;&nbsp;&nbsp;2745818 |
| **Building products – 0.6%** | **Building products – 0.6%** |  |
| A.O. Smith Corp. | &nbsp;&nbsp;1933 | &nbsp;&nbsp;&nbsp;&nbsp;126747 |
| AAON, Inc. | &nbsp;&nbsp;1359 | &nbsp;&nbsp;&nbsp;&nbsp;100226 |
| Advanced Drainage Systems, Inc. | &nbsp;&nbsp;1286 | &nbsp;&nbsp;&nbsp;&nbsp;147710 |
| Allegion PLC | &nbsp;&nbsp;1416 | &nbsp;&nbsp;&nbsp;&nbsp;204074 |
| American Woodmark Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13556 |
| Apogee Enterprises, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;387 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15712 |
| Armstrong World Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;717 | &nbsp;&nbsp;&nbsp;&nbsp;116469 |
| AZZ, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47240 |
| Builders FirstSource, Inc. (A) | &nbsp;&nbsp;1879 | &nbsp;&nbsp;&nbsp;&nbsp;219261 |
| Carlisle Companies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;737 | &nbsp;&nbsp;&nbsp;&nbsp;275196 |
| Carrier Global Corp. | 14340 | &nbsp;&nbsp;&nbsp;1049545 |
| CSW Industrials, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79739 |
| Fortune Brands Innovations, Inc. | &nbsp;&nbsp;2019 | &nbsp;&nbsp;&nbsp;&nbsp;103938 |
| Gibraltar Industries, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30798 |
| Griffon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;783 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56666 |
| Hayward Holdings, Inc. (A) | &nbsp;&nbsp;3624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50011 |
| Insteel Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14698 |
| Janus International Group, Inc. (A) | &nbsp;&nbsp;2475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20147 |
| JELD-WEN Holding, Inc. (A) | &nbsp;&nbsp;1719 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6738 |
| Johnson Controls International PLC | 10948 | &nbsp;&nbsp;&nbsp;1156328 |
| Lennox International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;589 | &nbsp;&nbsp;&nbsp;&nbsp;337638 |
| Masco Corp. | &nbsp;&nbsp;3487 | &nbsp;&nbsp;&nbsp;&nbsp;224423 |
| Masterbrand, Inc. (A) | &nbsp;&nbsp;2233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24407 |
| Owens Corning | &nbsp;&nbsp;1409 | &nbsp;&nbsp;&nbsp;&nbsp;193766 |
| Quanex Building Products Corp. | &nbsp;&nbsp;&nbsp;&nbsp;868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16405 |
| Resideo Technologies, Inc. (A) | &nbsp;&nbsp;2466 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54400 |
| Simpson Manufacturing Company, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;108717 |
| The AZEK Company, Inc. (A) | &nbsp;&nbsp;2376 | &nbsp;&nbsp;&nbsp;&nbsp;129136 |
| Trane Technologies PLC | &nbsp;&nbsp;3719 | &nbsp;&nbsp;&nbsp;1626728 |
| Trex Company, Inc. (A) | &nbsp;&nbsp;1774 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96470 |
| UFP Industries, Inc. | &nbsp;&nbsp;1014 | &nbsp;&nbsp;&nbsp;&nbsp;100751 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Building products (continued)** | **Building products (continued)** |  |
| Zurn Elkay Water Solutions Corp. | &nbsp;&nbsp;2834 | $&nbsp;&nbsp;&nbsp;&nbsp;103639 |
|  |  | 6851279 |
| **Commercial services and supplies – 0.7%** | **Commercial services and supplies – 0.7%** |  |
| ABM Industries, Inc. | &nbsp;&nbsp;1038 | &nbsp;&nbsp;&nbsp;&nbsp;49004 |
| ACCO Brands Corp. | &nbsp;&nbsp;2085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7464 |
| ACV Auctions, Inc., Class A (A) | &nbsp;&nbsp;2836 | &nbsp;&nbsp;&nbsp;&nbsp;46000 |
| Brady Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;733 | &nbsp;&nbsp;&nbsp;&nbsp;49822 |
| BrightView Holdings, Inc. (A) | &nbsp;&nbsp;1712 | &nbsp;&nbsp;&nbsp;&nbsp;28505 |
| Casella Waste Systems, Inc., Class A (A) | &nbsp;&nbsp;1039 | &nbsp;&nbsp;&nbsp;&nbsp;119880 |
| CECO Environmental Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;623 | &nbsp;&nbsp;&nbsp;&nbsp;17637 |
| Cimpress PLC (A) | &nbsp;&nbsp;&nbsp;&nbsp;430 | &nbsp;&nbsp;&nbsp;&nbsp;20210 |
| Cintas Corp. | &nbsp;&nbsp;6700 | 1493229 |
| Civeo Corp. | &nbsp;&nbsp;&nbsp;&nbsp;236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5449 |
| Clean Harbors, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;889 | &nbsp;&nbsp;&nbsp;&nbsp;205519 |
| Copart, Inc. (A) | 16033 | &nbsp;&nbsp;&nbsp;&nbsp;786739 |
| CoreCivic, Inc. (A) | &nbsp;&nbsp;1826 | &nbsp;&nbsp;&nbsp;&nbsp;38474 |
| Deluxe Corp. | &nbsp;&nbsp;&nbsp;&nbsp;792 | &nbsp;&nbsp;&nbsp;&nbsp;12601 |
| Driven Brands Holdings, Inc. (A) | &nbsp;&nbsp;2795 | &nbsp;&nbsp;&nbsp;&nbsp;49080 |
| Ennis, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;637 | &nbsp;&nbsp;&nbsp;&nbsp;11555 |
| Enviri Corp. (A) | &nbsp;&nbsp;1542 | &nbsp;&nbsp;&nbsp;&nbsp;13385 |
| Healthcare Services Group, Inc. (A) | &nbsp;&nbsp;1457 | &nbsp;&nbsp;&nbsp;&nbsp;21899 |
| HNI Corp. | &nbsp;&nbsp;&nbsp;&nbsp;789 | &nbsp;&nbsp;&nbsp;&nbsp;38803 |
| Interface, Inc. | &nbsp;&nbsp;1061 | &nbsp;&nbsp;&nbsp;&nbsp;22207 |
| Liquidity Services, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;555 | &nbsp;&nbsp;&nbsp;&nbsp;13092 |
| MillerKnoll, Inc. | &nbsp;&nbsp;1157 | &nbsp;&nbsp;&nbsp;&nbsp;22469 |
| Montrose Environmental Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;630 | &nbsp;&nbsp;&nbsp;&nbsp;13791 |
| MSA Safety, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp;&nbsp;&nbsp;108895 |
| NL Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;810 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5184 |
| OPENLANE, Inc. (A) | &nbsp;&nbsp;1843 | &nbsp;&nbsp;&nbsp;&nbsp;45061 |
| Pitney Bowes, Inc. | &nbsp;&nbsp;3085 | &nbsp;&nbsp;&nbsp;&nbsp;33657 |
| RB Global, Inc. | &nbsp;&nbsp;3063 | &nbsp;&nbsp;&nbsp;&nbsp;325260 |
| Republic Services, Inc. | &nbsp;&nbsp;5184 | 1278426 |
| Rollins, Inc. | &nbsp;&nbsp;8054 | &nbsp;&nbsp;&nbsp;&nbsp;454407 |
| Steelcase, Inc., Class A | &nbsp;&nbsp;1670 | &nbsp;&nbsp;&nbsp;&nbsp;17418 |
| Tetra Tech, Inc. | &nbsp;&nbsp;4459 | &nbsp;&nbsp;&nbsp;&nbsp;160346 |
| The Brink's Company | &nbsp;&nbsp;&nbsp;&nbsp;717 | &nbsp;&nbsp;&nbsp;&nbsp;64021 |
| The GEO Group, Inc. (A) | &nbsp;&nbsp;2326 | &nbsp;&nbsp;&nbsp;&nbsp;55708 |
| UniFirst Corp. | &nbsp;&nbsp;&nbsp;&nbsp;256 | &nbsp;&nbsp;&nbsp;&nbsp;48184 |
| Veralto Corp. | &nbsp;&nbsp;4101 | &nbsp;&nbsp;&nbsp;&nbsp;413996 |
| Vestis Corp. | &nbsp;&nbsp;2275 | &nbsp;&nbsp;&nbsp;&nbsp;13036 |
| VSE Corp. | &nbsp;&nbsp;&nbsp;&nbsp;343 | &nbsp;&nbsp;&nbsp;&nbsp;44926 |
| Waste Management, Inc. | &nbsp;&nbsp;6671 | 1526458 |
|  |  | 7681797 |
| **Construction and engineering – 0.3%** | **Construction and engineering – 0.3%** |  |
| AECOM | &nbsp;&nbsp;2191 | &nbsp;&nbsp;&nbsp;&nbsp;247276 |
| Ameresco, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;627 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9524 |
| API Group Corp. (A) | &nbsp;&nbsp;4616 | &nbsp;&nbsp;&nbsp;&nbsp;235647 |
| Arcosa, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;828 | &nbsp;&nbsp;&nbsp;&nbsp;71796 |
| Argan, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;229 | &nbsp;&nbsp;&nbsp;&nbsp;50490 |
| Bowman Consulting Group, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8539 |
| Centuri Holdings, Inc. (A) | &nbsp;&nbsp;1541 | &nbsp;&nbsp;&nbsp;&nbsp;34580 |
| Comfort Systems USA, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;589 | &nbsp;&nbsp;&nbsp;&nbsp;315828 |
| Concrete Pumping Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;866 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5326 |
| Construction Partners, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;787 | &nbsp;&nbsp;&nbsp;&nbsp;83642 |
| Dycom Industries, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;482 | &nbsp;&nbsp;&nbsp;&nbsp;117796 |
| EMCOR Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;752 | &nbsp;&nbsp;&nbsp;&nbsp;402237 |
| Everus Construction Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;867 | &nbsp;&nbsp;&nbsp;&nbsp;55081 |
| Fluor Corp. (A) | &nbsp;&nbsp;2779 | &nbsp;&nbsp;&nbsp;&nbsp;142479 |
| Granite Construction, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;709 | &nbsp;&nbsp;&nbsp;&nbsp;66299 |
| Great Lakes Dredge & Dock Corp. (A) | &nbsp;&nbsp;1333 | &nbsp;&nbsp;&nbsp;&nbsp;16249 |
| IES Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;335 | &nbsp;&nbsp;&nbsp;&nbsp;99237 |
| Limbach Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;197 | &nbsp;&nbsp;&nbsp;&nbsp;27600 |
| MasTec, Inc. (A) | &nbsp;&nbsp;1313 | &nbsp;&nbsp;&nbsp;&nbsp;223775 |
| Matrix Service Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6080 |
| MYR Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;273 | &nbsp;&nbsp;&nbsp;&nbsp;49536 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 158 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Total Stock Market Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Construction and engineering (continued)** | **Construction and engineering (continued)** |  |
| NWPX Infrastructure, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;218 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8940 |
| Primoris Services Corp. | &nbsp;&nbsp;&nbsp;&nbsp;897 | &nbsp;&nbsp;&nbsp;&nbsp;69912 |
| Quanta Services, Inc. | &nbsp;&nbsp;2458 | &nbsp;&nbsp;&nbsp;&nbsp;929321 |
| Sterling Infrastructure, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;511 | &nbsp;&nbsp;&nbsp;&nbsp;117903 |
| Tutor Perini Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;911 | &nbsp;&nbsp;&nbsp;&nbsp;42617 |
| Valmont Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;334 | &nbsp;&nbsp;&nbsp;&nbsp;109074 |
| WillScot Holdings Corp. | &nbsp;&nbsp;3049 | &nbsp;&nbsp;&nbsp;&nbsp;83543 |
|  |  | 3630327 |
| **Electrical equipment – 0.9%** | **Electrical equipment – 0.9%** |  |
| Acuity, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;513 | &nbsp;&nbsp;&nbsp;&nbsp;153048 |
| Allient, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;283 | &nbsp;&nbsp;&nbsp;&nbsp;10276 |
| American Superconductor Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;676 | &nbsp;&nbsp;&nbsp;&nbsp;24802 |
| AMETEK, Inc. | &nbsp;&nbsp;3831 | &nbsp;&nbsp;&nbsp;&nbsp;693258 |
| Amprius Technologies, Inc. (A) | &nbsp;&nbsp;1971 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8298 |
| Array Technologies, Inc. (A) | &nbsp;&nbsp;2661 | &nbsp;&nbsp;&nbsp;&nbsp;15700 |
| Atkore, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp;&nbsp;&nbsp;40566 |
| Bloom Energy Corp., Class A (A) | &nbsp;&nbsp;3839 | &nbsp;&nbsp;&nbsp;&nbsp;91829 |
| ChargePoint Holdings, Inc. (A)(B) | &nbsp;&nbsp;8624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6065 |
| Eaton Corp. PLC | &nbsp;&nbsp;6508 | 2323291 |
| Emerson Electric Company | &nbsp;&nbsp;9362 | 1248235 |
| EnerSys | &nbsp;&nbsp;&nbsp;&nbsp;658 | &nbsp;&nbsp;&nbsp;&nbsp;56437 |
| Enovix Corp. (A)(B) | &nbsp;&nbsp;3249 | &nbsp;&nbsp;&nbsp;&nbsp;33595 |
| Eos Energy Enterprises, Inc. (A)(B) | &nbsp;&nbsp;3687 | &nbsp;&nbsp;&nbsp;&nbsp;18877 |
| Fluence Energy, Inc. (A) | &nbsp;&nbsp;2273 | &nbsp;&nbsp;&nbsp;&nbsp;15252 |
| GE Vernova, Inc. | &nbsp;&nbsp;4581 | 2424036 |
| Generac Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;989 | &nbsp;&nbsp;&nbsp;&nbsp;141635 |
| GrafTech International, Ltd. (A)(B) | &nbsp;&nbsp;5270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5126 |
| Hubbell, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;888 | &nbsp;&nbsp;&nbsp;&nbsp;362668 |
| LSI Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;479 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8148 |
| NANO Nuclear Energy, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;618 | &nbsp;&nbsp;&nbsp;&nbsp;21315 |
| NEXTracker, Inc., Class A (A) | &nbsp;&nbsp;2392 | &nbsp;&nbsp;&nbsp;&nbsp;130053 |
| NuScale Power Corp. (A)(B) | &nbsp;&nbsp;1995 | &nbsp;&nbsp;&nbsp;&nbsp;78922 |
| nVent Electric PLC | &nbsp;&nbsp;2739 | &nbsp;&nbsp;&nbsp;&nbsp;200632 |
| Plug Power, Inc. (A)(B) | 15818 | &nbsp;&nbsp;&nbsp;&nbsp;23569 |
| Powell Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;201 | &nbsp;&nbsp;&nbsp;&nbsp;42300 |
| Preformed Line Products Company | &nbsp;&nbsp;&nbsp;&nbsp;95 | &nbsp;&nbsp;&nbsp;&nbsp;15182 |
| Regal Rexnord Corp. | &nbsp;&nbsp;1103 | &nbsp;&nbsp;&nbsp;&nbsp;159891 |
| Rockwell Automation, Inc. | &nbsp;&nbsp;1876 | &nbsp;&nbsp;&nbsp;&nbsp;623151 |
| Sensata Technologies Holding PLC | &nbsp;&nbsp;2483 | &nbsp;&nbsp;&nbsp;&nbsp;74763 |
| SES AI Corp. (A)(B) | &nbsp;&nbsp;5595 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4970 |
| Shoals Technologies Group, Inc., Class A (A) | &nbsp;&nbsp;2898 | &nbsp;&nbsp;&nbsp;&nbsp;12317 |
| SunPower Corp. (A)(C) | &nbsp;&nbsp;3027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Sunrun, Inc. (A) | &nbsp;&nbsp;3810 | &nbsp;&nbsp;&nbsp;&nbsp;31166 |
| Thermon Group Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;643 | &nbsp;&nbsp;&nbsp;&nbsp;18055 |
| Vertiv Holdings Company, Class A | &nbsp;&nbsp;6324 | &nbsp;&nbsp;&nbsp;&nbsp;812065 |
| Vicor Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;577 | &nbsp;&nbsp;&nbsp;&nbsp;26173 |
|  |  | 9955666 |
| **Ground transportation – 0.9%** | **Ground transportation – 0.9%** |  |
| ArcBest Corp. | &nbsp;&nbsp;&nbsp;&nbsp;391 | &nbsp;&nbsp;&nbsp;&nbsp;30111 |
| Avis Budget Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;584 | &nbsp;&nbsp;&nbsp;&nbsp;98725 |
| Covenant Logistics Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8005 |
| CSX Corp. | 31360 | 1023277 |
| FTAI Infrastructure, Inc. | &nbsp;&nbsp;2273 | &nbsp;&nbsp;&nbsp;&nbsp;14024 |
| Heartland Express, Inc. | &nbsp;&nbsp;1656 | &nbsp;&nbsp;&nbsp;&nbsp;14308 |
| Hertz Global Holdings, Inc. (A) | &nbsp;&nbsp;5239 | &nbsp;&nbsp;&nbsp;&nbsp;35782 |
| JB Hunt Transport Services, Inc. | &nbsp;&nbsp;1651 | &nbsp;&nbsp;&nbsp;&nbsp;237084 |
| Knight-Swift Transportation Holdings, Inc. | &nbsp;&nbsp;2652 | &nbsp;&nbsp;&nbsp;&nbsp;117298 |
| Landstar System, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;581 | &nbsp;&nbsp;&nbsp;&nbsp;80771 |
| Lyft, Inc., Class A (A) | &nbsp;&nbsp;6775 | &nbsp;&nbsp;&nbsp;&nbsp;106774 |
| Marten Transport, Ltd. | &nbsp;&nbsp;1628 | &nbsp;&nbsp;&nbsp;&nbsp;21148 |
| Norfolk Southern Corp. | &nbsp;&nbsp;3754 | &nbsp;&nbsp;&nbsp;&nbsp;960911 |
| Old Dominion Freight Line, Inc. | &nbsp;&nbsp;3525 | &nbsp;&nbsp;&nbsp;&nbsp;572108 |
| RXO, Inc. (A) | &nbsp;&nbsp;2769 | &nbsp;&nbsp;&nbsp;&nbsp;43529 |
| Ryder System, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;688 | &nbsp;&nbsp;&nbsp;&nbsp;109392 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Ground transportation (continued)** | **Ground transportation (continued)** |  |
| Saia, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;441 | $&nbsp;&nbsp;&nbsp;&nbsp;120830 |
| Schneider National, Inc., Class B | &nbsp;&nbsp;1606 | &nbsp;&nbsp;&nbsp;&nbsp;38785 |
| Uber Technologies, Inc. (A) | 34669 | 3234618 |
| U-Haul Holding Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;316 | &nbsp;&nbsp;&nbsp;&nbsp;19137 |
| U-Haul Holding Company, Series N | &nbsp;&nbsp;2969 | &nbsp;&nbsp;&nbsp;&nbsp;161425 |
| Union Pacific Corp. | 10120 | 2328410 |
| Universal Logistics Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;424 | &nbsp;&nbsp;&nbsp;&nbsp;10761 |
| Werner Enterprises, Inc. | &nbsp;&nbsp;1063 | &nbsp;&nbsp;&nbsp;&nbsp;29084 |
| XPO, Inc. (A) | &nbsp;&nbsp;1943 | &nbsp;&nbsp;&nbsp;&nbsp;245381 |
|  |  | 9661678 |
| **Industrial conglomerates – 0.4%** | **Industrial conglomerates – 0.4%** |  |
| 3M Company | &nbsp;&nbsp;9004 | 1370769 |
| Honeywell International, Inc. | 10786 | 2511844 |
|  |  | 3882613 |
| **Machinery – 1.7%** | **Machinery – 1.7%** |  |
| AGCO Corp. | &nbsp;&nbsp;1239 | &nbsp;&nbsp;&nbsp;&nbsp;127815 |
| Alamo Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;204 | &nbsp;&nbsp;&nbsp;&nbsp;44550 |
| Albany International Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp;&nbsp;&nbsp;36818 |
| Allison Transmission Holdings, Inc. | &nbsp;&nbsp;1412 | &nbsp;&nbsp;&nbsp;&nbsp;134126 |
| Astec Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;431 | &nbsp;&nbsp;&nbsp;&nbsp;17968 |
| Atmus Filtration Technologies, Inc. | &nbsp;&nbsp;1358 | &nbsp;&nbsp;&nbsp;&nbsp;49458 |
| Blue Bird Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;536 | &nbsp;&nbsp;&nbsp;&nbsp;23134 |
| Caterpillar, Inc. | &nbsp;&nbsp;7932 | 3079282 |
| Chart Industries, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;756 | &nbsp;&nbsp;&nbsp;&nbsp;124475 |
| Columbus McKinnon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;711 | &nbsp;&nbsp;&nbsp;&nbsp;10857 |
| Crane Company | &nbsp;&nbsp;&nbsp;&nbsp;957 | &nbsp;&nbsp;&nbsp;&nbsp;181725 |
| Cummins, Inc. | &nbsp;&nbsp;2279 | &nbsp;&nbsp;&nbsp;&nbsp;746373 |
| Deere & Company | &nbsp;&nbsp;4506 | 2291256 |
| Donaldson Company, Inc. | &nbsp;&nbsp;1975 | &nbsp;&nbsp;&nbsp;&nbsp;136966 |
| Douglas Dynamics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;429 | &nbsp;&nbsp;&nbsp;&nbsp;12643 |
| Dover Corp. | &nbsp;&nbsp;2255 | &nbsp;&nbsp;&nbsp;&nbsp;413184 |
| Energy Recovery, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;999 | &nbsp;&nbsp;&nbsp;&nbsp;12767 |
| Enerpac Tool Group Corp. | &nbsp;&nbsp;&nbsp;&nbsp;921 | &nbsp;&nbsp;&nbsp;&nbsp;37356 |
| Enpro, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;358 | &nbsp;&nbsp;&nbsp;&nbsp;68575 |
| Esab Corp. | &nbsp;&nbsp;1017 | &nbsp;&nbsp;&nbsp;&nbsp;122599 |
| ESCO Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;435 | &nbsp;&nbsp;&nbsp;&nbsp;83463 |
| Federal Signal Corp. | &nbsp;&nbsp;1024 | &nbsp;&nbsp;&nbsp;&nbsp;108974 |
| Flowserve Corp. | &nbsp;&nbsp;2167 | &nbsp;&nbsp;&nbsp;&nbsp;113442 |
| Fortive Corp. | &nbsp;&nbsp;5611 | &nbsp;&nbsp;&nbsp;&nbsp;292501 |
| Franklin Electric Company, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;790 | &nbsp;&nbsp;&nbsp;&nbsp;70895 |
| Gates Industrial Corp. PLC (A) | &nbsp;&nbsp;4204 | &nbsp;&nbsp;&nbsp;&nbsp;96818 |
| Graco, Inc. | &nbsp;&nbsp;2818 | &nbsp;&nbsp;&nbsp;&nbsp;242263 |
| Graham Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;220 | &nbsp;&nbsp;&nbsp;&nbsp;10892 |
| Helios Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;617 | &nbsp;&nbsp;&nbsp;&nbsp;20589 |
| Hillenbrand, Inc. | &nbsp;&nbsp;1244 | &nbsp;&nbsp;&nbsp;&nbsp;24967 |
| Hillman Solutions Corp. (A) | &nbsp;&nbsp;3870 | &nbsp;&nbsp;&nbsp;&nbsp;27632 |
| Hyster-Yale, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;262 | &nbsp;&nbsp;&nbsp;&nbsp;10422 |
| IDEX Corp. | &nbsp;&nbsp;1252 | &nbsp;&nbsp;&nbsp;&nbsp;219814 |
| Illinois Tool Works, Inc. | &nbsp;&nbsp;4879 | 1206333 |
| Ingersoll Rand, Inc. | &nbsp;&nbsp;6684 | &nbsp;&nbsp;&nbsp;&nbsp;555975 |
| ITT, Inc. | &nbsp;&nbsp;1356 | &nbsp;&nbsp;&nbsp;&nbsp;212661 |
| JBT Marel Corp. | &nbsp;&nbsp;&nbsp;&nbsp;864 | &nbsp;&nbsp;&nbsp;&nbsp;103905 |
| Kadant, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;196 | &nbsp;&nbsp;&nbsp;&nbsp;62220 |
| Kennametal, Inc. | &nbsp;&nbsp;1327 | &nbsp;&nbsp;&nbsp;&nbsp;30468 |
| Lincoln Electric Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;931 | &nbsp;&nbsp;&nbsp;&nbsp;193015 |
| Lindsay Corp. | &nbsp;&nbsp;&nbsp;&nbsp;188 | &nbsp;&nbsp;&nbsp;&nbsp;27119 |
| Mayville Engineering Company, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;346 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5522 |
| Microvast Holdings, Inc. (A) | &nbsp;&nbsp;5492 | &nbsp;&nbsp;&nbsp;&nbsp;19936 |
| Miller Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9692 |
| Mueller Industries, Inc. | &nbsp;&nbsp;1877 | &nbsp;&nbsp;&nbsp;&nbsp;149165 |
| Mueller Water Products, Inc., Class A | &nbsp;&nbsp;2621 | &nbsp;&nbsp;&nbsp;&nbsp;63009 |
| Nordson Corp. | &nbsp;&nbsp;&nbsp;&nbsp;935 | &nbsp;&nbsp;&nbsp;&nbsp;200436 |
| Omega Flex, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5699 |
| Oshkosh Corp. | &nbsp;&nbsp;1065 | &nbsp;&nbsp;&nbsp;&nbsp;120920 |
| Otis Worldwide Corp. | &nbsp;&nbsp;6577 | &nbsp;&nbsp;&nbsp;&nbsp;651255 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 159 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Total Stock Market Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Machinery (continued)** | **Machinery (continued)** |  |
| PACCAR, Inc. | &nbsp;&nbsp;8709 | $&nbsp;&nbsp;&nbsp;&nbsp;827878 |
| Palladyne AI Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;614 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5317 |
| Parker-Hannifin Corp. | &nbsp;&nbsp;2134 | &nbsp;&nbsp;&nbsp;1490535 |
| Proto Labs, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;454 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18178 |
| RBC Bearings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;524 | &nbsp;&nbsp;&nbsp;&nbsp;201635 |
| REV Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;871 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41451 |
| Snap-on, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;863 | &nbsp;&nbsp;&nbsp;&nbsp;268548 |
| SPX Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;773 | &nbsp;&nbsp;&nbsp;&nbsp;129617 |
| Standex International Corp. | &nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32861 |
| Stanley Black & Decker, Inc. | &nbsp;&nbsp;2556 | &nbsp;&nbsp;&nbsp;&nbsp;173169 |
| Stratasys, Ltd. (A) | &nbsp;&nbsp;1307 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14991 |
| Symbotic, Inc. (A)(B) | &nbsp;&nbsp;1802 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70008 |
| Tennant Company | &nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25181 |
| Terex Corp. | &nbsp;&nbsp;1084 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50612 |
| The Gorman-Rupp Company | &nbsp;&nbsp;&nbsp;&nbsp;429 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15753 |
| The Greenbrier Companies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;518 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23854 |
| The Manitowoc Company, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6887 |
| The Middleby Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;884 | &nbsp;&nbsp;&nbsp;&nbsp;127296 |
| The Shyft Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7286 |
| The Timken Company | &nbsp;&nbsp;1156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83868 |
| The Toro Company | &nbsp;&nbsp;1665 | &nbsp;&nbsp;&nbsp;&nbsp;117682 |
| Titan International, Inc. (A) | &nbsp;&nbsp;1286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13207 |
| Trinity Industries, Inc. | &nbsp;&nbsp;1369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36977 |
| Wabash National Corp. | &nbsp;&nbsp;&nbsp;&nbsp;899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9556 |
| Wabtec Corp. | &nbsp;&nbsp;2828 | &nbsp;&nbsp;&nbsp;&nbsp;592042 |
| Watts Water Technologies, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;455 | &nbsp;&nbsp;&nbsp;&nbsp;111880 |
| Worthington Enterprises, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;871 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55430 |
| Xylem, Inc. | &nbsp;&nbsp;4026 | &nbsp;&nbsp;&nbsp;&nbsp;520803 |
|  |  | 17684431 |
| **Marine transportation – 0.0%** | **Marine transportation – 0.0%** |  |
| Genco Shipping & Trading, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;791 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10338 |
| Kirby Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;948 | &nbsp;&nbsp;&nbsp;&nbsp;107513 |
| Matson, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61799 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;179650 |
| **Passenger airlines – 0.2%** | **Passenger airlines – 0.2%** |  |
| Alaska Air Group, Inc. (A) | &nbsp;&nbsp;2047 | &nbsp;&nbsp;&nbsp;&nbsp;101286 |
| Allegiant Travel Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17859 |
| American Airlines Group, Inc. (A) | 10885 | &nbsp;&nbsp;&nbsp;&nbsp;122130 |
| Delta Air Lines, Inc. | 10719 | &nbsp;&nbsp;&nbsp;&nbsp;527160 |
| Frontier Group Holdings, Inc. (A) | &nbsp;&nbsp;3990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14484 |
| JetBlue Airways Corp. (A) | &nbsp;&nbsp;6062 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25642 |
| Joby Aviation, Inc. (A)(B) | 13210 | &nbsp;&nbsp;&nbsp;&nbsp;139366 |
| SkyWest, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69608 |
| Southwest Airlines Company | &nbsp;&nbsp;9851 | &nbsp;&nbsp;&nbsp;&nbsp;319566 |
| Sun Country Airlines Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11597 |
| United Airlines Holdings, Inc. (A) | &nbsp;&nbsp;5429 | &nbsp;&nbsp;&nbsp;&nbsp;432311 |
| Wheels Up Experience, Inc. (A)(B) | 11293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12084 |
|  |  | &nbsp;&nbsp;&nbsp;1793093 |
| **Professional services – 0.8%** | **Professional services – 0.8%** |  |
| Alight, Inc., Class A | &nbsp;&nbsp;8926 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50521 |
| Amentum Holdings, Inc. (A) | &nbsp;&nbsp;4199 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99138 |
| Automatic Data Processing, Inc. | &nbsp;&nbsp;6752 | &nbsp;&nbsp;&nbsp;2082317 |
| Barrett Business Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;474 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19761 |
| BlackSky Technology, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11978 |
| Booz Allen Hamilton Holding Corp. | &nbsp;&nbsp;2100 | &nbsp;&nbsp;&nbsp;&nbsp;218673 |
| Broadridge Financial Solutions, Inc. | &nbsp;&nbsp;1939 | &nbsp;&nbsp;&nbsp;&nbsp;471235 |
| CACI International, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;372 | &nbsp;&nbsp;&nbsp;&nbsp;177332 |
| CBIZ, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;838 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60093 |
| Concentrix Corp. | &nbsp;&nbsp;1076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56872 |
| Conduent, Inc. (A) | &nbsp;&nbsp;3285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8672 |
| CRA International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22484 |
| CSG Systems International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31349 |
| Dayforce, Inc. (A) | &nbsp;&nbsp;2612 | &nbsp;&nbsp;&nbsp;&nbsp;144679 |
| Dun & Bradstreet Holdings, Inc. | &nbsp;&nbsp;7430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67539 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Professional services (continued)** | **Professional services (continued)** |  |
| Equifax, Inc. | &nbsp;&nbsp;2058 | $&nbsp;&nbsp;&nbsp;&nbsp;533783 |
| ExlService Holdings, Inc. (A) | &nbsp;&nbsp;2689 | &nbsp;&nbsp;&nbsp;&nbsp;117751 |
| Exponent, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;856 | &nbsp;&nbsp;&nbsp;&nbsp;63952 |
| First Advantage Corp. (A) | &nbsp;&nbsp;2990 | &nbsp;&nbsp;&nbsp;&nbsp;49664 |
| Franklin Covey Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;309 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7051 |
| FTI Consulting, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;96900 |
| Genpact, Ltd. | &nbsp;&nbsp;2921 | &nbsp;&nbsp;&nbsp;&nbsp;128553 |
| Heidrick & Struggles International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;368 | &nbsp;&nbsp;&nbsp;&nbsp;16840 |
| Huron Consulting Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;298 | &nbsp;&nbsp;&nbsp;&nbsp;40987 |
| IBEX Holdings, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8148 |
| ICF International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;322 | &nbsp;&nbsp;&nbsp;&nbsp;27277 |
| Innodata, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;524 | &nbsp;&nbsp;&nbsp;&nbsp;26839 |
| Insperity, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;623 | &nbsp;&nbsp;&nbsp;&nbsp;37455 |
| Jacobs Solutions, Inc. | &nbsp;&nbsp;2025 | &nbsp;&nbsp;&nbsp;&nbsp;266186 |
| KBR, Inc. | &nbsp;&nbsp;2179 | &nbsp;&nbsp;&nbsp;&nbsp;104461 |
| Kelly Services, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8056 |
| Kforce, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;364 | &nbsp;&nbsp;&nbsp;&nbsp;14971 |
| Korn Ferry | &nbsp;&nbsp;&nbsp;&nbsp;844 | &nbsp;&nbsp;&nbsp;&nbsp;61891 |
| Legalzoom.com, Inc. (A) | &nbsp;&nbsp;2998 | &nbsp;&nbsp;&nbsp;&nbsp;26712 |
| Leidos Holdings, Inc. | &nbsp;&nbsp;2173 | &nbsp;&nbsp;&nbsp;&nbsp;342812 |
| ManpowerGroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;763 | &nbsp;&nbsp;&nbsp;&nbsp;30825 |
| Maximus, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;933 | &nbsp;&nbsp;&nbsp;&nbsp;65497 |
| NV5 Global, Inc. (A) | &nbsp;&nbsp;1196 | &nbsp;&nbsp;&nbsp;&nbsp;27616 |
| Parsons Corp. (A) | &nbsp;&nbsp;1772 | &nbsp;&nbsp;&nbsp;&nbsp;127176 |
| Paychex, Inc. | &nbsp;&nbsp;5970 | &nbsp;&nbsp;&nbsp;&nbsp;868396 |
| Paycom Software, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;949 | &nbsp;&nbsp;&nbsp;&nbsp;219599 |
| Paylocity Holding Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;926 | &nbsp;&nbsp;&nbsp;&nbsp;167782 |
| Planet Labs PBC (A) | &nbsp;&nbsp;4750 | &nbsp;&nbsp;&nbsp;&nbsp;28975 |
| Robert Half, Inc. | &nbsp;&nbsp;1675 | &nbsp;&nbsp;&nbsp;&nbsp;68759 |
| Science Applications International Corp. | &nbsp;&nbsp;&nbsp;&nbsp;811 | &nbsp;&nbsp;&nbsp;&nbsp;91327 |
| SS&C Technologies Holdings, Inc. | &nbsp;&nbsp;4093 | &nbsp;&nbsp;&nbsp;&nbsp;338900 |
| TaskUS, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6654 |
| TransUnion | &nbsp;&nbsp;3234 | &nbsp;&nbsp;&nbsp;&nbsp;284592 |
| TriNet Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;829 | &nbsp;&nbsp;&nbsp;&nbsp;60633 |
| TTEC Holdings, Inc. (A) | &nbsp;&nbsp;1033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4969 |
| UL Solutions, Inc., Class A | &nbsp;&nbsp;1047 | &nbsp;&nbsp;&nbsp;&nbsp;76284 |
| Upwork, Inc. (A) | &nbsp;&nbsp;2241 | &nbsp;&nbsp;&nbsp;&nbsp;30119 |
| Verisk Analytics, Inc. | &nbsp;&nbsp;2327 | &nbsp;&nbsp;&nbsp;&nbsp;724861 |
| Verra Mobility Corp. (A) | &nbsp;&nbsp;2666 | &nbsp;&nbsp;&nbsp;&nbsp;67690 |
| Willdan Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;255 | &nbsp;&nbsp;&nbsp;&nbsp;15940 |
|  |  | 8809526 |
| **Trading companies and distributors – 0.5%** | **Trading companies and distributors – 0.5%** |  |
| Air Lease Corp. | &nbsp;&nbsp;1836 | &nbsp;&nbsp;&nbsp;&nbsp;107388 |
| Applied Industrial Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;632 | &nbsp;&nbsp;&nbsp;&nbsp;146908 |
| BlueLinx Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp;&nbsp;11529 |
| Boise Cascade Company | &nbsp;&nbsp;&nbsp;&nbsp;630 | &nbsp;&nbsp;&nbsp;&nbsp;54697 |
| Core & Main, Inc., Class A (A) | &nbsp;&nbsp;3155 | &nbsp;&nbsp;&nbsp;&nbsp;190404 |
| Custom Truck One Source, Inc. (A) | &nbsp;&nbsp;4214 | &nbsp;&nbsp;&nbsp;&nbsp;20817 |
| Distribution Solutions Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;760 | &nbsp;&nbsp;&nbsp;&nbsp;20877 |
| DNOW, Inc. (A) | &nbsp;&nbsp;1815 | &nbsp;&nbsp;&nbsp;&nbsp;26916 |
| DXP Enterprises, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;268 | &nbsp;&nbsp;&nbsp;&nbsp;23490 |
| Fastenal Company | 19058 | &nbsp;&nbsp;&nbsp;&nbsp;800436 |
| Ferguson Enterprises, Inc. | &nbsp;&nbsp;3318 | &nbsp;&nbsp;&nbsp;&nbsp;722495 |
| FTAI Aviation, Ltd. | &nbsp;&nbsp;1706 | &nbsp;&nbsp;&nbsp;&nbsp;196258 |
| GATX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;597 | &nbsp;&nbsp;&nbsp;&nbsp;91675 |
| Global Industrial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;628 | &nbsp;&nbsp;&nbsp;&nbsp;16962 |
| GMS, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;643 | &nbsp;&nbsp;&nbsp;&nbsp;69926 |
| Herc Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;553 | &nbsp;&nbsp;&nbsp;&nbsp;72825 |
| Karat Packaging, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9011 |
| McGrath RentCorp | &nbsp;&nbsp;&nbsp;&nbsp;420 | &nbsp;&nbsp;&nbsp;&nbsp;48703 |
| MRC Global, Inc. (A) | &nbsp;&nbsp;1548 | &nbsp;&nbsp;&nbsp;&nbsp;21223 |
| MSC Industrial Direct Company, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;921 | &nbsp;&nbsp;&nbsp;&nbsp;78303 |
| NPK International, Inc. (A) | &nbsp;&nbsp;1887 | &nbsp;&nbsp;&nbsp;&nbsp;16058 |
| QXO, Inc. (A)(B) | &nbsp;&nbsp;8412 | &nbsp;&nbsp;&nbsp;&nbsp;181194 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 160 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Total Stock Market Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Trading companies and distributors (continued)** | **Trading companies and distributors (continued)** |  |
| Rush Enterprises, Inc., Class A | &nbsp;&nbsp;1067 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54961 |
| SiteOne Landscape Supply, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;753 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91068 |
| Titan Machinery, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;453 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8974 |
| Transcat, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14183 |
| United Rentals, Inc. | &nbsp;&nbsp;1083 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;815932 |
| W.W. Grainger, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;832192 |
| Watsco, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;579 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255698 |
| WESCO International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;803 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148716 |
| Willis Lease Finance Corp. | &nbsp;&nbsp;&nbsp;&nbsp;116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16562 |
| Xometry, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;827 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27944 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;5194325 |
|  |  | 101034199 |
| **Information technology – 29.5%** |  |  |
| **Communications equipment – 0.9%** | **Communications equipment – 0.9%** |  |
| ADTRAN Holdings, Inc. (A) | &nbsp;&nbsp;1455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13051 |
| Applied Optoelectronics, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;812 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20860 |
| Arista Networks, Inc. (A) | 20947 | &nbsp;&nbsp;&nbsp;&nbsp;2143088 |
| Calix, Inc. (A) | &nbsp;&nbsp;1124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59786 |
| Ciena Corp. (A) | &nbsp;&nbsp;2367 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192508 |
| Cisco Systems, Inc. | 65430 | &nbsp;&nbsp;&nbsp;&nbsp;4539533 |
| Clearfield, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12372 |
| CommScope Holding Company, Inc. (A) | &nbsp;&nbsp;3659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30297 |
| Digi International, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22973 |
| Extreme Networks, Inc. (A) | &nbsp;&nbsp;2267 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40693 |
| F5, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;273718 |
| Harmonic, Inc. (A) | &nbsp;&nbsp;2050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19414 |
| Juniper Networks, Inc. | &nbsp;&nbsp;5505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219815 |
| Lumentum Holdings, Inc. (A) | &nbsp;&nbsp;1156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109889 |
| Motorola Solutions, Inc. | &nbsp;&nbsp;2725 | &nbsp;&nbsp;&nbsp;&nbsp;1145754 |
| NETGEAR, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;562 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16337 |
| NetScout Systems, Inc. (A) | &nbsp;&nbsp;1295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32129 |
| Powerwave Technologies, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Ribbon Communications, Inc. (A) | &nbsp;&nbsp;2810 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11268 |
| Ubiquiti, Inc. | &nbsp;&nbsp;1008 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;414943 |
| Viasat, Inc. (A) | &nbsp;&nbsp;2195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32047 |
| Viavi Solutions, Inc. (A) | &nbsp;&nbsp;3849 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38759 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;9389234 |
| **Electronic equipment, instruments and components – 0.7%** | **Electronic equipment, instruments and components – 0.7%** |  |
| 908 Devices, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5561 |
| Advanced Energy Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;636 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84270 |
| Aeva Technologies, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;958 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36203 |
| Amphenol Corp., Class A | 20099 | &nbsp;&nbsp;&nbsp;&nbsp;1984776 |
| Arlo Technologies, Inc. (A) | &nbsp;&nbsp;1786 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30291 |
| Arrow Electronics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108953 |
| Avnet, Inc. | &nbsp;&nbsp;1395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74047 |
| Badger Meter, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119536 |
| Bel Fuse, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20515 |
| Belden, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;669 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77470 |
| Benchmark Electronics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24075 |
| CDW Corp. | &nbsp;&nbsp;2195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;392005 |
| Climb Global Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;89 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9515 |
| Cognex Corp. | &nbsp;&nbsp;2857 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90624 |
| Coherent Corp. (A) | &nbsp;&nbsp;2570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229270 |
| Corning, Inc. | 14209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;747251 |
| Crane NXT Company | &nbsp;&nbsp;&nbsp;&nbsp;961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51798 |
| CTS Corp. | &nbsp;&nbsp;&nbsp;&nbsp;548 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23350 |
| Daktronics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;854 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12912 |
| ePlus, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;454 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32733 |
| Evolv Technologies Holdings, Inc. (A) | &nbsp;&nbsp;2809 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17528 |
| Fabrinet (A) | &nbsp;&nbsp;&nbsp;&nbsp;598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176219 |
| FARO Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;351 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15416 |
| Flex, Ltd. (A) | &nbsp;&nbsp;6342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;316593 |
| Insight Enterprises, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;527 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72771 |
| IPG Photonics Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49977 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Electronic equipment, instruments and<br> components (continued)** | **Electronic equipment, instruments and<br> components (continued)** |  |
| Itron, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;749 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98591 |
| Jabil, Inc. | &nbsp;&nbsp;1811 | &nbsp;&nbsp;&nbsp;&nbsp;394979 |
| Keysight Technologies, Inc. (A) | &nbsp;&nbsp;2867 | &nbsp;&nbsp;&nbsp;&nbsp;469787 |
| Kimball Electronics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7807 |
| Knowles Corp. (A) | &nbsp;&nbsp;1683 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29654 |
| Littelfuse, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95000 |
| Methode Electronics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7684 |
| Mirion Technologies, Inc. (A) | &nbsp;&nbsp;3785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81491 |
| Napco Security Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;631 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18734 |
| nLight, Inc. (A) | &nbsp;&nbsp;1174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23104 |
| Novanta, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78003 |
| OSI Systems, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;279 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62736 |
| Ouster, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20952 |
| PAR Technology Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42246 |
| PC Connection, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30588 |
| Plexus Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;454 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61431 |
| Powerfleet, Inc. (A) | &nbsp;&nbsp;2309 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9952 |
| Ralliant Corp. (A) | &nbsp;&nbsp;1870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90692 |
| Red Cat Holdings, Inc. (A)(B) | &nbsp;&nbsp;1448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10541 |
| Rogers Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22324 |
| Sanmina Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;902 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88243 |
| ScanSource, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17644 |
| TD SYNNEX Corp. | &nbsp;&nbsp;1393 | &nbsp;&nbsp;&nbsp;&nbsp;189030 |
| Teledyne Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;776 | &nbsp;&nbsp;&nbsp;&nbsp;397553 |
| Trimble, Inc. (A) | &nbsp;&nbsp;4046 | &nbsp;&nbsp;&nbsp;&nbsp;307415 |
| TTM Technologies, Inc. (A) | &nbsp;&nbsp;1736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70864 |
| Vishay Intertechnology, Inc. | &nbsp;&nbsp;2104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33412 |
| Vishay Precision Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9470 |
| Vontier Corp. | &nbsp;&nbsp;2473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91254 |
| Zebra Technologies Corp., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;852 | &nbsp;&nbsp;&nbsp;&nbsp;262723 |
|  |  | &nbsp;&nbsp;&nbsp;7927563 |
| **IT services – 1.3%** | **IT services – 1.3%** |  |
| Accenture PLC, Class A | 10385 | &nbsp;&nbsp;&nbsp;3103973 |
| Akamai Technologies, Inc. (A) | &nbsp;&nbsp;2488 | &nbsp;&nbsp;&nbsp;&nbsp;198443 |
| Amdocs, Ltd. | &nbsp;&nbsp;1847 | &nbsp;&nbsp;&nbsp;&nbsp;168520 |
| Applied Digital Corp. (A) | &nbsp;&nbsp;3532 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35567 |
| ASGN, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36349 |
| BigBear.ai Holdings, Inc. (A)(B) | &nbsp;&nbsp;4221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28661 |
| BigCommerce Holdings, Inc., Series 1 (A) | &nbsp;&nbsp;1530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7650 |
| Cloudflare, Inc., Class A (A) | &nbsp;&nbsp;5118 | &nbsp;&nbsp;&nbsp;1002258 |
| Cognizant Technology Solutions Corp., Class A | &nbsp;&nbsp;8147 | &nbsp;&nbsp;&nbsp;&nbsp;635710 |
| Couchbase, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;914 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22283 |
| DigitalOcean Holdings, Inc. (A) | &nbsp;&nbsp;1528 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43640 |
| DXC Technology Company (A) | &nbsp;&nbsp;3042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46512 |
| EPAM Systems, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;941 | &nbsp;&nbsp;&nbsp;&nbsp;166388 |
| Fastly, Inc., Class A (A) | &nbsp;&nbsp;2481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17516 |
| Gartner, Inc. (A) | &nbsp;&nbsp;1216 | &nbsp;&nbsp;&nbsp;&nbsp;491532 |
| GoDaddy, Inc., Class A (A) | &nbsp;&nbsp;2276 | &nbsp;&nbsp;&nbsp;&nbsp;409817 |
| Grid Dynamics Holdings, Inc. (A) | &nbsp;&nbsp;1487 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17175 |
| IBM Corp. | 15393 | &nbsp;&nbsp;&nbsp;4537549 |
| Kyndryl Holdings, Inc. (A) | &nbsp;&nbsp;3874 | &nbsp;&nbsp;&nbsp;&nbsp;162553 |
| MongoDB, Inc. (A) | &nbsp;&nbsp;1236 | &nbsp;&nbsp;&nbsp;&nbsp;259548 |
| Okta, Inc. (A) | &nbsp;&nbsp;2715 | &nbsp;&nbsp;&nbsp;&nbsp;271419 |
| Snowflake, Inc., Class A (A) | &nbsp;&nbsp;5478 | &nbsp;&nbsp;&nbsp;1225812 |
| The Hackett Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13828 |
| Twilio, Inc., Class A (A) | &nbsp;&nbsp;2532 | &nbsp;&nbsp;&nbsp;&nbsp;314880 |
| VeriSign, Inc. | &nbsp;&nbsp;1412 | &nbsp;&nbsp;&nbsp;&nbsp;407786 |
|  |  | 13625369 |
| **Semiconductors and semiconductor equipment – 10.6%** | **Semiconductors and semiconductor equipment – 10.6%** |  |
| ACM Research, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24864 |
| Advanced Micro Devices, Inc. (A) | 26778 | &nbsp;&nbsp;&nbsp;3799798 |
| Aehr Test Systems (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6892 |
| Allegro MicroSystems, Inc. (A) | &nbsp;&nbsp;3083 | &nbsp;&nbsp;&nbsp;&nbsp;105408 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 161 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Total Stock Market Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Semiconductors and semiconductor equipment (continued)** | **Semiconductors and semiconductor equipment (continued)** |  |
| Alpha & Omega Semiconductor, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;521 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13369 |
| Ambarella, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;702 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46378 |
| Amkor Technology, Inc. | &nbsp;&nbsp;&nbsp;4109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86248 |
| Analog Devices, Inc. | &nbsp;&nbsp;&nbsp;8232 | &nbsp;&nbsp;&nbsp;&nbsp;1959381 |
| Applied Materials, Inc. | &nbsp;&nbsp;13338 | &nbsp;&nbsp;&nbsp;&nbsp;2441788 |
| Astera Labs, Inc. (A) | &nbsp;&nbsp;&nbsp;2694 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243591 |
| Axcelis Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37284 |
| Broadcom, Inc. | &nbsp;&nbsp;77395 | &nbsp;&nbsp;&nbsp;21333932 |
| CEVA, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10133 |
| Cirrus Logic, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;881 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91849 |
| Cohu, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;915 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17605 |
| Credo Technology Group Holding, Ltd. (A) | &nbsp;&nbsp;&nbsp;2784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257771 |
| Diodes, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;797 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42153 |
| Enphase Energy, Inc. (A) | &nbsp;&nbsp;&nbsp;2199 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87190 |
| Entegris, Inc. | &nbsp;&nbsp;&nbsp;2490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200819 |
| First Solar, Inc. (A) | &nbsp;&nbsp;&nbsp;1776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;293999 |
| FormFactor, Inc. (A) | &nbsp;&nbsp;&nbsp;1318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45352 |
| GlobalFoundries, Inc. (A) | &nbsp;&nbsp;&nbsp;9256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;353579 |
| Ichor Holdings, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;627 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12314 |
| Impinj, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53091 |
| Indie Semiconductor, Inc., Class A (A)(B) | &nbsp;&nbsp;&nbsp;3466 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12339 |
| Intel Corp. | &nbsp;&nbsp;71884 | &nbsp;&nbsp;&nbsp;&nbsp;1610202 |
| KLA Corp. | &nbsp;&nbsp;&nbsp;2135 | &nbsp;&nbsp;&nbsp;&nbsp;1912405 |
| Kopin Corp. (A) | &nbsp;&nbsp;&nbsp;3250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4973 |
| Kulicke & Soffa Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30794 |
| Lam Research Corp. | &nbsp;&nbsp;20997 | &nbsp;&nbsp;&nbsp;&nbsp;2043848 |
| Lattice Semiconductor Corp. (A) | &nbsp;&nbsp;&nbsp;2287 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112040 |
| MACOM Technology Solutions Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;1235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176963 |
| Marvell Technology, Inc. | &nbsp;&nbsp;14364 | &nbsp;&nbsp;&nbsp;&nbsp;1111774 |
| MaxLinear, Inc. (A) | &nbsp;&nbsp;&nbsp;1467 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20846 |
| Microchip Technology, Inc. | &nbsp;&nbsp;&nbsp;8913 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;627208 |
| Micron Technology, Inc. | &nbsp;&nbsp;18451 | &nbsp;&nbsp;&nbsp;&nbsp;2274086 |
| MKS, Inc. | &nbsp;&nbsp;&nbsp;1104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109693 |
| Monolithic Power Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;583641 |
| Navitas Semiconductor Corp. (A)(B) | &nbsp;&nbsp;&nbsp;3363 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22028 |
| NVE Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5742 |
| NVIDIA Corp. | 402345 | &nbsp;&nbsp;&nbsp;63566487 |
| ON Semiconductor Corp. (A) | &nbsp;&nbsp;&nbsp;6978 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365717 |
| Onto Innovation, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;817 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82460 |
| PDF Solutions, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16783 |
| Penguin Solutions, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;913 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18087 |
| Photronics, Inc. (A) | &nbsp;&nbsp;&nbsp;1065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20054 |
| Power Integrations, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54838 |
| Qorvo, Inc. (A) | &nbsp;&nbsp;&nbsp;1549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131526 |
| Qualcomm, Inc. | &nbsp;&nbsp;18194 | &nbsp;&nbsp;&nbsp;&nbsp;2897576 |
| Rambus, Inc. (A) | &nbsp;&nbsp;&nbsp;1773 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113507 |
| Rigetti Computing, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;4032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47820 |
| Semtech Corp. (A) | &nbsp;&nbsp;&nbsp;1437 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64866 |
| Silicon Laboratories, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80606 |
| SiTime Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84593 |
| SkyWater Technology, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8886 |
| Skyworks Solutions, Inc. | &nbsp;&nbsp;&nbsp;2663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198447 |
| Synaptics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;662 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42911 |
| Teradyne, Inc. | &nbsp;&nbsp;&nbsp;2679 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240896 |
| Texas Instruments, Inc. | &nbsp;&nbsp;15096 | &nbsp;&nbsp;&nbsp;&nbsp;3134232 |
| Ultra Clean Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18620 |
| Universal Display Corp. | &nbsp;&nbsp;&nbsp;&nbsp;790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122023 |
| Veeco Instruments, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20218 |
|  |  | 113554523 |
| **Software – 10.9%** | **Software – 10.9%** |  |
| A10 Networks, Inc. | &nbsp;&nbsp;&nbsp;1291 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24981 |
| ACI Worldwide, Inc. (A) | &nbsp;&nbsp;&nbsp;1757 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80664 |
| Adeia, Inc. | &nbsp;&nbsp;&nbsp;1877 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26541 |
| Adobe, Inc. (A) | &nbsp;&nbsp;&nbsp;7148 | &nbsp;&nbsp;&nbsp;&nbsp;2765418 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Software (continued)** | **Software (continued)** |  |
| Agilysys, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;470 | $&nbsp;&nbsp;&nbsp;&nbsp;53881 |
| Alarm.com Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;832 | &nbsp;&nbsp;&nbsp;&nbsp;47066 |
| Alkami Technology, Inc. (A) | &nbsp;&nbsp;1699 | &nbsp;&nbsp;&nbsp;&nbsp;51208 |
| Amplitude, Inc., Class A (A) | &nbsp;&nbsp;1850 | &nbsp;&nbsp;&nbsp;&nbsp;22940 |
| ANSYS, Inc. (A) | &nbsp;&nbsp;1452 | &nbsp;&nbsp;&nbsp;&nbsp;509971 |
| Appfolio, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;386 | &nbsp;&nbsp;&nbsp;&nbsp;88888 |
| Appian Corp., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;740 | &nbsp;&nbsp;&nbsp;&nbsp;22096 |
| AppLovin Corp., Class A (A) | &nbsp;&nbsp;5126 | 1794510 |
| Asana, Inc., Class A (A) | &nbsp;&nbsp;2417 | &nbsp;&nbsp;&nbsp;&nbsp;32630 |
| Atlassian Corp., Class A (A) | &nbsp;&nbsp;2724 | &nbsp;&nbsp;&nbsp;&nbsp;553217 |
| Aurora Innovation, Inc. (A) | 23156 | &nbsp;&nbsp;&nbsp;&nbsp;121337 |
| Autodesk, Inc. (A) | &nbsp;&nbsp;3474 | 1075446 |
| AvePoint, Inc. (A) | &nbsp;&nbsp;3428 | &nbsp;&nbsp;&nbsp;&nbsp;66195 |
| Bentley Systems, Inc., Class B | &nbsp;&nbsp;4869 | &nbsp;&nbsp;&nbsp;&nbsp;262780 |
| BILL Holdings, Inc. (A) | &nbsp;&nbsp;1695 | &nbsp;&nbsp;&nbsp;&nbsp;78411 |
| Bit Digital, Inc. (A) | &nbsp;&nbsp;2661 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5828 |
| Blackbaud, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;841 | &nbsp;&nbsp;&nbsp;&nbsp;54001 |
| Blackline, Inc. (A) | &nbsp;&nbsp;1046 | &nbsp;&nbsp;&nbsp;&nbsp;59225 |
| Blend Labs, Inc., Class A (A) | &nbsp;&nbsp;4336 | &nbsp;&nbsp;&nbsp;&nbsp;14309 |
| Box, Inc., Class A (A) | &nbsp;&nbsp;2370 | &nbsp;&nbsp;&nbsp;&nbsp;80983 |
| Braze, Inc., Class A (A) | &nbsp;&nbsp;1461 | &nbsp;&nbsp;&nbsp;&nbsp;41054 |
| c3.ai, Inc., Class A (A) | &nbsp;&nbsp;2091 | &nbsp;&nbsp;&nbsp;&nbsp;51376 |
| Cadence Design Systems, Inc. (A) | &nbsp;&nbsp;4514 | 1390989 |
| CCC Intelligent Solutions Holdings, Inc. (A) | 11108 | &nbsp;&nbsp;&nbsp;&nbsp;104526 |
| Cerence, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;774 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7903 |
| Cipher Mining, Inc. (A) | &nbsp;&nbsp;6062 | &nbsp;&nbsp;&nbsp;&nbsp;28976 |
| CleanSpark, Inc. (A)(B) | &nbsp;&nbsp;4658 | &nbsp;&nbsp;&nbsp;&nbsp;51378 |
| Clear Secure, Inc., Class A | &nbsp;&nbsp;1599 | &nbsp;&nbsp;&nbsp;&nbsp;44388 |
| Clearwater Analytics Holdings, Inc., Class A (A) | &nbsp;&nbsp;4370 | &nbsp;&nbsp;&nbsp;&nbsp;95834 |
| CommVault Systems, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;732 | &nbsp;&nbsp;&nbsp;&nbsp;127610 |
| Confluent, Inc., Class A (A) | &nbsp;&nbsp;4549 | &nbsp;&nbsp;&nbsp;&nbsp;113407 |
| Consensus Cloud Solutions, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;364 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8394 |
| Core Scientific, Inc. (A)(B) | &nbsp;&nbsp;4921 | &nbsp;&nbsp;&nbsp;&nbsp;84001 |
| Crowdstrike Holdings, Inc., Class A (A) | &nbsp;&nbsp;3836 | 1953713 |
| Daily Journal Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;10556 |
| Datadog, Inc., Class A (A) | &nbsp;&nbsp;5242 | &nbsp;&nbsp;&nbsp;&nbsp;704158 |
| Digimarc Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6314 |
| Digital Turbine, Inc. (A) | &nbsp;&nbsp;1841 | &nbsp;&nbsp;&nbsp;&nbsp;10862 |
| DocuSign, Inc. (A) | &nbsp;&nbsp;3350 | &nbsp;&nbsp;&nbsp;&nbsp;260932 |
| Dolby Laboratories, Inc., Class A | &nbsp;&nbsp;1018 | &nbsp;&nbsp;&nbsp;&nbsp;75597 |
| Domo, Inc., Class B (A) | &nbsp;&nbsp;&nbsp;&nbsp;799 | &nbsp;&nbsp;&nbsp;&nbsp;11162 |
| Dropbox, Inc., Class A (A) | &nbsp;&nbsp;2742 | &nbsp;&nbsp;&nbsp;&nbsp;78421 |
| Dynatrace, Inc. (A) | &nbsp;&nbsp;4958 | &nbsp;&nbsp;&nbsp;&nbsp;273731 |
| E2open Parent Holdings, Inc. (A) | &nbsp;&nbsp;5044 | &nbsp;&nbsp;&nbsp;&nbsp;16292 |
| Elastic NV (A) | &nbsp;&nbsp;1721 | &nbsp;&nbsp;&nbsp;&nbsp;145132 |
| EverCommerce, Inc. (A)(B) | &nbsp;&nbsp;2979 | &nbsp;&nbsp;&nbsp;&nbsp;31280 |
| Fair Isaac Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;404 | &nbsp;&nbsp;&nbsp;&nbsp;738496 |
| Five9, Inc. (A) | &nbsp;&nbsp;1266 | &nbsp;&nbsp;&nbsp;&nbsp;33524 |
| Fortinet, Inc. (A) | 12680 | 1340530 |
| Freshworks, Inc., Class A (A) | &nbsp;&nbsp;4060 | &nbsp;&nbsp;&nbsp;&nbsp;60535 |
| Gen Digital, Inc. | &nbsp;&nbsp;9796 | &nbsp;&nbsp;&nbsp;&nbsp;288002 |
| Gitlab, Inc., Class A (A) | &nbsp;&nbsp;2344 | &nbsp;&nbsp;&nbsp;&nbsp;105738 |
| Guidewire Software, Inc. (A) | &nbsp;&nbsp;1386 | &nbsp;&nbsp;&nbsp;&nbsp;326334 |
| HubSpot, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;854 | &nbsp;&nbsp;&nbsp;&nbsp;475362 |
| Hut 8 Corp. (A) | &nbsp;&nbsp;1562 | &nbsp;&nbsp;&nbsp;&nbsp;29053 |
| i3 Verticals, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;445 | &nbsp;&nbsp;&nbsp;&nbsp;12229 |
| Informatica, Inc., Class A (A) | &nbsp;&nbsp;4332 | &nbsp;&nbsp;&nbsp;&nbsp;105484 |
| Intapp, Inc. (A) | &nbsp;&nbsp;1323 | &nbsp;&nbsp;&nbsp;&nbsp;68293 |
| InterDigital, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp;&nbsp;&nbsp;95298 |
| Intuit, Inc. | &nbsp;&nbsp;4622 | 3640426 |
| Jamf Holding Corp. (A) | &nbsp;&nbsp;2332 | &nbsp;&nbsp;&nbsp;&nbsp;22177 |
| JFrog, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;842 | &nbsp;&nbsp;&nbsp;&nbsp;36947 |
| Klaviyo, Inc., Class A (A) | &nbsp;&nbsp;1528 | &nbsp;&nbsp;&nbsp;&nbsp;51310 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 162 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Total Stock Market Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Software (continued)** | **Software (continued)** |  |
| Life360, Inc. (A) | &nbsp;&nbsp;&nbsp;1275 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83194 |
| LiveRamp Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;1111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36707 |
| Manhattan Associates, Inc. (A) | &nbsp;&nbsp;&nbsp;1017 | &nbsp;&nbsp;&nbsp;&nbsp;200827 |
| MARA Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;5630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88278 |
| MeridianLink, Inc. (A) | &nbsp;&nbsp;&nbsp;1394 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22625 |
| Microsoft Corp. | 122640 | 61002322 |
| MicroStrategy, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;3954 | &nbsp;&nbsp;&nbsp;1598325 |
| Mitek Systems, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;833 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8247 |
| N-able, Inc. (A) | &nbsp;&nbsp;&nbsp;3493 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28293 |
| NCino, Inc. (A) | &nbsp;&nbsp;&nbsp;1938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54206 |
| NCR Voyix Corp. (A) | &nbsp;&nbsp;&nbsp;2403 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28187 |
| NextNav, Inc. (A) | &nbsp;&nbsp;&nbsp;2211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33607 |
| Nutanix, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;4355 | &nbsp;&nbsp;&nbsp;&nbsp;332896 |
| Olo, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;2155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19180 |
| OneSpan, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;699 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11666 |
| Onestream, Inc. (A) | &nbsp;&nbsp;&nbsp;1245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35234 |
| Ooma, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5560 |
| Oracle Corp. | &nbsp;&nbsp;46270 | 10116010 |
| PagerDuty, Inc. (A) | &nbsp;&nbsp;&nbsp;1536 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23470 |
| Palantir Technologies, Inc., Class A (A) | &nbsp;&nbsp;37152 | &nbsp;&nbsp;&nbsp;5064561 |
| Palo Alto Networks, Inc. (A) | &nbsp;&nbsp;10867 | &nbsp;&nbsp;&nbsp;2223823 |
| Pegasystems, Inc. | &nbsp;&nbsp;&nbsp;2870 | &nbsp;&nbsp;&nbsp;&nbsp;155353 |
| Porch Group, Inc. (A) | &nbsp;&nbsp;&nbsp;2046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24122 |
| Procore Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;2486 | &nbsp;&nbsp;&nbsp;&nbsp;170092 |
| Progress Software Corp. | &nbsp;&nbsp;&nbsp;&nbsp;716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45709 |
| PROS Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13546 |
| PTC, Inc. (A) | &nbsp;&nbsp;&nbsp;1900 | &nbsp;&nbsp;&nbsp;&nbsp;327446 |
| Q2 Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;1006 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94152 |
| Qualys, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86436 |
| Rapid7, Inc. (A) | &nbsp;&nbsp;&nbsp;1064 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24610 |
| Red Violet, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;281 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13825 |
| ReposiTrak, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5659 |
| RingCentral, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;1341 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38017 |
| Riot Platforms, Inc. (A) | &nbsp;&nbsp;&nbsp;5706 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64478 |
| Roper Technologies, Inc. | &nbsp;&nbsp;&nbsp;1780 | &nbsp;&nbsp;&nbsp;1008975 |
| Rubrik, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;1450 | &nbsp;&nbsp;&nbsp;&nbsp;129906 |
| Salesforce, Inc. | &nbsp;&nbsp;15820 | &nbsp;&nbsp;&nbsp;4313956 |
| Samsara, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;4480 | &nbsp;&nbsp;&nbsp;&nbsp;178214 |
| SEMrush Holdings, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;2150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19458 |
| SentinelOne, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;4898 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89535 |
| ServiceNow, Inc. (A) | &nbsp;&nbsp;&nbsp;3396 | &nbsp;&nbsp;&nbsp;3491360 |
| SoundHound AI, Inc., Class A (A)(B) | &nbsp;&nbsp;&nbsp;6002 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64401 |
| Sprinklr, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;2383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20160 |
| Sprout Social, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;882 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18443 |
| SPS Commerce, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;631 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85873 |
| Synopsys, Inc. (A) | &nbsp;&nbsp;&nbsp;2556 | &nbsp;&nbsp;&nbsp;1310410 |
| Tenable Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;2016 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68100 |
| Teradata Corp. (A) | &nbsp;&nbsp;&nbsp;1591 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35495 |
| TeraWulf, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;6443 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28220 |
| Tyler Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;714 | &nbsp;&nbsp;&nbsp;&nbsp;423288 |
| UiPath, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;7760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99328 |
| Unity Software, Inc. (A) | &nbsp;&nbsp;&nbsp;6808 | &nbsp;&nbsp;&nbsp;&nbsp;164754 |
| Varonis Systems, Inc. (A) | &nbsp;&nbsp;&nbsp;1869 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94852 |
| Verint Systems, Inc. (A) | &nbsp;&nbsp;&nbsp;1065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20949 |
| Vertex, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;1202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42473 |
| Weave Communications, Inc. (A) | &nbsp;&nbsp;&nbsp;1308 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10883 |
| Workday, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;3544 | &nbsp;&nbsp;&nbsp;&nbsp;850560 |
| Workiva, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;876 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59962 |
| Xperi, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5893 |
| Yext, Inc. (A) | &nbsp;&nbsp;&nbsp;2319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19712 |
| Zeta Global Holdings Corp., Class A (A) | &nbsp;&nbsp;&nbsp;3567 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55253 |
| Zoom Video Communications, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;4343 | &nbsp;&nbsp;&nbsp;&nbsp;338667 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Software (continued)** | **Software (continued)** |  |
| Zscaler, Inc. (A) | &nbsp;&nbsp;&nbsp;2524 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;792385 |
|  |  | 116972378 |
| **Technology hardware, storage and peripherals – 5.1%** | **Technology hardware, storage and peripherals – 5.1%** |  |
| Apple, Inc. | 247951 | &nbsp;&nbsp;&nbsp;50872107 |
| CompoSecure, Inc., Class A (A)(B) | &nbsp;&nbsp;&nbsp;1706 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24038 |
| Corsair Gaming, Inc. (A) | &nbsp;&nbsp;&nbsp;1902 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17936 |
| Dell Technologies, Inc., Class C | &nbsp;&nbsp;&nbsp;5834 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;715248 |
| Diebold Nixdorf, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;647 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35844 |
| Eastman Kodak Company (A) | &nbsp;&nbsp;&nbsp;1443 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8153 |
| Hewlett Packard Enterprise Company | &nbsp;&nbsp;21753 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;444849 |
| HP, Inc. | &nbsp;&nbsp;15618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;382016 |
| IonQ, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;3704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159161 |
| NetApp, Inc. | &nbsp;&nbsp;&nbsp;3366 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358647 |
| Pure Storage, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;5416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;311853 |
| Quantum Computing, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;2293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43957 |
| Seagate Technology Holdings PLC | &nbsp;&nbsp;&nbsp;3503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;505588 |
| Super Micro Computer, Inc. (A) | &nbsp;&nbsp;&nbsp;9849 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;482699 |
| Turtle Beach Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;384 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5311 |
| Western Digital Corp. | &nbsp;&nbsp;&nbsp;5744 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;367559 |
| Xerox Holdings Corp. (B) | &nbsp;&nbsp;&nbsp;2297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12105 |
|  |  | &nbsp;&nbsp;&nbsp;54747071 |
|  |  | 316216138 |
| **Materials – 2.2%** |  |  |
| **Chemicals – 1.2%** | **Chemicals – 1.2%** |  |
| AdvanSix, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13181 |
| Air Products & Chemicals, Inc. | &nbsp;&nbsp;&nbsp;3691 | &nbsp;&nbsp;&nbsp;&nbsp;1041083 |
| Albemarle Corp. | &nbsp;&nbsp;&nbsp;1955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122520 |
| Ashland, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;779 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39168 |
| ASP Isotopes, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;1236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9097 |
| Aspen Aerogels, Inc. (A) | &nbsp;&nbsp;&nbsp;1439 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8519 |
| Avient Corp. | &nbsp;&nbsp;&nbsp;1554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50210 |
| Axalta Coating Systems, Ltd. (A) | &nbsp;&nbsp;&nbsp;3587 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106498 |
| Balchem Corp. | &nbsp;&nbsp;&nbsp;&nbsp;554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88197 |
| Cabot Corp. | &nbsp;&nbsp;&nbsp;&nbsp;893 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66975 |
| Celanese Corp. | &nbsp;&nbsp;&nbsp;1829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101199 |
| CF Industries Holdings, Inc. | &nbsp;&nbsp;&nbsp;2805 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;258060 |
| Corteva, Inc. | &nbsp;&nbsp;11385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;848524 |
| CVR Nitrogen LP (A)(C) | &nbsp;&nbsp;&nbsp;1086 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195 |
| Dow, Inc. | &nbsp;&nbsp;11616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;307592 |
| DuPont de Nemours, Inc. | &nbsp;&nbsp;&nbsp;6941 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476083 |
| Eastman Chemical Company | &nbsp;&nbsp;&nbsp;1890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141107 |
| Ecolab, Inc. | &nbsp;&nbsp;&nbsp;4700 | &nbsp;&nbsp;&nbsp;&nbsp;1266368 |
| Ecovyst, Inc. (A) | &nbsp;&nbsp;&nbsp;2180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17941 |
| Element Solutions, Inc. | &nbsp;&nbsp;&nbsp;4045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91619 |
| FMC Corp. | &nbsp;&nbsp;&nbsp;2080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86840 |
| Ginkgo Bioworks Holdings, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;814 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9158 |
| Hawkins, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50019 |
| HB Fuller Company | &nbsp;&nbsp;&nbsp;&nbsp;919 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55278 |
| Huntsman Corp. | &nbsp;&nbsp;&nbsp;2903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30249 |
| Ingevity Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27104 |
| Innospec, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;438 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36831 |
| International Flavors & Fragrances, Inc. | &nbsp;&nbsp;&nbsp;4243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;312073 |
| Intrepid Potash, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10076 |
| Koppers Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13342 |
| Kronos Worldwide, Inc. | &nbsp;&nbsp;&nbsp;1874 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11619 |
| Linde PLC | &nbsp;&nbsp;&nbsp;7845 | &nbsp;&nbsp;&nbsp;&nbsp;3680717 |
| LSB Industries, Inc. (A) | &nbsp;&nbsp;&nbsp;1715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13377 |
| LyondellBasell Industries NV, Class A | &nbsp;&nbsp;&nbsp;5325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;308105 |
| Mativ Holdings, Inc. | &nbsp;&nbsp;&nbsp;1150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7843 |
| Minerals Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;546 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30068 |
| NewMarket Corp. | &nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110538 |
| Novusterra, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Olin Corp. | &nbsp;&nbsp;&nbsp;1926 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38693 |
| Perimeter Solutions, Inc. (A) | &nbsp;&nbsp;&nbsp;2552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35524 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 163 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Total Stock Market Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Chemicals (continued)** | **Chemicals (continued)** |  |
| PPG Industries, Inc. | &nbsp;&nbsp;3745 | $&nbsp;&nbsp;&nbsp;&nbsp;425994 |
| PureCycle Technologies, Inc. (A)(B) | &nbsp;&nbsp;3038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41621 |
| Quaker Chemical Corp. | &nbsp;&nbsp;&nbsp;&nbsp;302 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33806 |
| RPM International, Inc. | &nbsp;&nbsp;2130 | &nbsp;&nbsp;&nbsp;&nbsp;233959 |
| Sensient Technologies Corp. | &nbsp;&nbsp;&nbsp;&nbsp;720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70934 |
| Stepan Company | &nbsp;&nbsp;&nbsp;&nbsp;417 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22760 |
| The Chemours Company | &nbsp;&nbsp;2504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28671 |
| The Mosaic Company | &nbsp;&nbsp;5273 | &nbsp;&nbsp;&nbsp;&nbsp;192359 |
| The Scotts Miracle-Gro Company | &nbsp;&nbsp;&nbsp;&nbsp;961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63388 |
| The Sherwin-Williams Company | &nbsp;&nbsp;4169 | &nbsp;&nbsp;&nbsp;1431468 |
| Tronox Holdings PLC | &nbsp;&nbsp;2842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14409 |
| Valhi, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;458 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7401 |
| Westlake Corp. | &nbsp;&nbsp;2140 | &nbsp;&nbsp;&nbsp;&nbsp;162490 |
|  |  | 12650850 |
| **Construction materials – 0.2%** | **Construction materials – 0.2%** |  |
| CRH PLC | 11220 | &nbsp;&nbsp;&nbsp;1029996 |
| Eagle Materials, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;551 | &nbsp;&nbsp;&nbsp;&nbsp;111363 |
| Knife River Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;945 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77150 |
| Martin Marietta Materials, Inc. | &nbsp;&nbsp;1007 | &nbsp;&nbsp;&nbsp;&nbsp;552803 |
| United States Lime & Minerals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49401 |
| Vulcan Materials Company | &nbsp;&nbsp;2196 | &nbsp;&nbsp;&nbsp;&nbsp;572761 |
|  |  | &nbsp;&nbsp;&nbsp;2393474 |
| **Containers and packaging – 0.2%** | **Containers and packaging – 0.2%** |  |
| AptarGroup, Inc. | &nbsp;&nbsp;1105 | &nbsp;&nbsp;&nbsp;&nbsp;172855 |
| Avery Dennison Corp. | &nbsp;&nbsp;1300 | &nbsp;&nbsp;&nbsp;&nbsp;228111 |
| Ball Corp. | &nbsp;&nbsp;4683 | &nbsp;&nbsp;&nbsp;&nbsp;262669 |
| Crown Holdings, Inc. | &nbsp;&nbsp;1976 | &nbsp;&nbsp;&nbsp;&nbsp;203488 |
| Graphic Packaging Holding Company | &nbsp;&nbsp;4974 | &nbsp;&nbsp;&nbsp;&nbsp;104802 |
| Greif, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;451 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29310 |
| International Paper Company | &nbsp;&nbsp;8719 | &nbsp;&nbsp;&nbsp;&nbsp;408311 |
| Myers Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;854 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12374 |
| O-I Glass, Inc. (A) | &nbsp;&nbsp;2626 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38707 |
| Packaging Corp. of America | &nbsp;&nbsp;1480 | &nbsp;&nbsp;&nbsp;&nbsp;278906 |
| Ranpak Holdings Corp. (A) | &nbsp;&nbsp;1700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6069 |
| Sealed Air Corp. | &nbsp;&nbsp;2404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74596 |
| Silgan Holdings, Inc. | &nbsp;&nbsp;1776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96224 |
| Smurfit WestRock PLC | &nbsp;&nbsp;8596 | &nbsp;&nbsp;&nbsp;&nbsp;370917 |
| Sonoco Products Company | &nbsp;&nbsp;1601 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69740 |
| TriMas Corp. | &nbsp;&nbsp;&nbsp;&nbsp;748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21400 |
|  |  | &nbsp;&nbsp;&nbsp;2378479 |
| **Metals and mining – 0.6%** | **Metals and mining – 0.6%** |  |
| Alcoa Corp. | &nbsp;&nbsp;4284 | &nbsp;&nbsp;&nbsp;&nbsp;126421 |
| Alpha Metallurgical Resources, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24521 |
| American Infrastructure Corp. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Carpenter Technology Corp. | &nbsp;&nbsp;&nbsp;&nbsp;828 | &nbsp;&nbsp;&nbsp;&nbsp;228843 |
| Century Aluminum Company (A) | &nbsp;&nbsp;1557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28057 |
| Cleveland-Cliffs, Inc. (A) | &nbsp;&nbsp;8275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62890 |
| Coeur Mining, Inc. (A) | 10683 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94651 |
| Commercial Metals Company | &nbsp;&nbsp;1893 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92587 |
| Compass Minerals International, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15811 |
| Freeport-McMoRan, Inc. | 23885 | &nbsp;&nbsp;&nbsp;1035415 |
| Hecla Mining Company | 10729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64267 |
| Kaiser Aluminum Corp. | &nbsp;&nbsp;&nbsp;&nbsp;287 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22931 |
| Lifezone Metals, Ltd. (A)(B) | &nbsp;&nbsp;1317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5426 |
| MAC Copper, Ltd. (A) | &nbsp;&nbsp;1435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17349 |
| Materion Corp. | &nbsp;&nbsp;&nbsp;&nbsp;365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28970 |
| Metallus, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;879 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13545 |
| MP Materials Corp. (A)(B) | &nbsp;&nbsp;2738 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91093 |
| Newmont Corp. | 18727 | &nbsp;&nbsp;&nbsp;1091035 |
| Nucor Corp. | &nbsp;&nbsp;3818 | &nbsp;&nbsp;&nbsp;&nbsp;494584 |
| Olympic Steel, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;248 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8082 |
| Pan American Silver Corp., CVR (A) | &nbsp;&nbsp;7232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1772 |
| Radius Recycling, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14845 |
| Ramaco Resources, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;881 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11576 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Metals and mining (continued)** | **Metals and mining (continued)** |  |
| ReElement Technologies Corp. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;354 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Reliance, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;875 | &nbsp;&nbsp;&nbsp;&nbsp;274663 |
| Royal Gold, Inc. | &nbsp;&nbsp;1104 | &nbsp;&nbsp;&nbsp;&nbsp;196335 |
| Ryerson Holding Corp. | &nbsp;&nbsp;&nbsp;&nbsp;573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12360 |
| Southern Copper Corp. | 13777 | &nbsp;&nbsp;&nbsp;1393819 |
| Steel Dynamics, Inc. | &nbsp;&nbsp;2515 | &nbsp;&nbsp;&nbsp;&nbsp;321945 |
| SunCoke Energy, Inc. | &nbsp;&nbsp;1645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14131 |
| United States Antimony Corp. (A) | &nbsp;&nbsp;2002 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4364 |
| Warrior Met Coal, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40330 |
| Worthington Steel, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26847 |
|  |  | &nbsp;&nbsp;&nbsp;5859465 |
| **Paper and forest products – 0.0%** | **Paper and forest products – 0.0%** |  |
| Clearwater Paper Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8118 |
| Louisiana-Pacific Corp. | &nbsp;&nbsp;1152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99060 |
| Magnera Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7538 |
| Sylvamo Corp. | &nbsp;&nbsp;&nbsp;&nbsp;674 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33767 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;148483 |
|  |  | 23430751 |
| **Real estate – 2.3%** |  |  |
| **Diversified REITs – 0.1%** | **Diversified REITs – 0.1%** |  |
| Alexander & Baldwin, Inc. | &nbsp;&nbsp;1483 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26442 |
| American Assets Trust, Inc. | &nbsp;&nbsp;1174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23187 |
| Armada Hoffler Properties, Inc. | &nbsp;&nbsp;1737 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11933 |
| Broadstone Net Lease, Inc. | &nbsp;&nbsp;3204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51424 |
| CTO Realty Growth, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10874 |
| Essential Properties Realty Trust, Inc. | &nbsp;&nbsp;3075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98123 |
| Gladstone Commercial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13986 |
| Global Net Lease, Inc. | &nbsp;&nbsp;4033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30449 |
| One Liberty Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8709 |
| WP Carey, Inc. | &nbsp;&nbsp;3620 | &nbsp;&nbsp;&nbsp;&nbsp;225816 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;500943 |
| **Health care REITs – 0.3%** | **Health care REITs – 0.3%** |  |
| Alexandria Real Estate Equities, Inc. | &nbsp;&nbsp;2857 | &nbsp;&nbsp;&nbsp;&nbsp;207504 |
| American Healthcare REIT, Inc. | &nbsp;&nbsp;2548 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93614 |
| CareTrust REIT, Inc. | &nbsp;&nbsp;3091 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94585 |
| Community Healthcare Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10244 |
| Diversified Healthcare Trust | &nbsp;&nbsp;3891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13930 |
| Global Medical REIT, Inc. | &nbsp;&nbsp;1473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10208 |
| Healthcare Realty Trust, Inc. | &nbsp;&nbsp;5852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92813 |
| Healthpeak Properties, Inc. | 11558 | &nbsp;&nbsp;&nbsp;&nbsp;202381 |
| LTC Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;761 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26338 |
| Medical Properties Trust, Inc. | 10020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43186 |
| National Health Investors, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;768 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53852 |
| Omega Healthcare Investors, Inc. | &nbsp;&nbsp;4653 | &nbsp;&nbsp;&nbsp;&nbsp;170532 |
| Sabra Health Care REIT, Inc. | &nbsp;&nbsp;3915 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72193 |
| Sila Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;962 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22771 |
| Universal Health Realty Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9153 |
| Ventas, Inc. | &nbsp;&nbsp;7257 | &nbsp;&nbsp;&nbsp;&nbsp;458280 |
| Welltower, Inc. | 10651 | &nbsp;&nbsp;&nbsp;1637378 |
|  |  | &nbsp;&nbsp;&nbsp;3218962 |
| **Hotel and resort REITs – 0.0%** | **Hotel and resort REITs – 0.0%** |  |
| Apple Hospitality REIT, Inc. | &nbsp;&nbsp;3795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44288 |
| Chatham Lodging Trust | &nbsp;&nbsp;&nbsp;&nbsp;775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5402 |
| DiamondRock Hospitality Company | &nbsp;&nbsp;3702 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28357 |
| Host Hotels & Resorts, Inc. | 10027 | &nbsp;&nbsp;&nbsp;&nbsp;154015 |
| Park Hotels & Resorts, Inc. | &nbsp;&nbsp;3153 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32255 |
| Pebblebrook Hotel Trust | &nbsp;&nbsp;2092 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20899 |
| RLJ Lodging Trust | &nbsp;&nbsp;2590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18855 |
| Ryman Hospitality Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;968 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95513 |
| Service Properties Trust | &nbsp;&nbsp;3329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7956 |
| Summit Hotel Properties, Inc. | &nbsp;&nbsp;2205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11223 |
| Sunstone Hotel Investors, Inc. | &nbsp;&nbsp;3455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29989 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 164 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Total Stock Market Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Hotel and resort REITs (continued)** | **Hotel and resort REITs (continued)** |  |
| Xenia Hotels & Resorts, Inc. | &nbsp;&nbsp;1838 | $&nbsp;&nbsp;&nbsp;&nbsp;23104 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;471856 |
| **Industrial REITs – 0.2%** | **Industrial REITs – 0.2%** |  |
| Americold Realty Trust, Inc. | &nbsp;&nbsp;4758 | &nbsp;&nbsp;&nbsp;&nbsp;79126 |
| EastGroup Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;853 | &nbsp;&nbsp;&nbsp;&nbsp;142553 |
| First Industrial Realty Trust, Inc. | &nbsp;&nbsp;2177 | &nbsp;&nbsp;&nbsp;&nbsp;104779 |
| Innovative Industrial Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;478 | &nbsp;&nbsp;&nbsp;&nbsp;26395 |
| Lineage, Inc. | &nbsp;&nbsp;3811 | &nbsp;&nbsp;&nbsp;&nbsp;165855 |
| LXP Industrial Trust | &nbsp;&nbsp;5398 | &nbsp;&nbsp;&nbsp;&nbsp;44587 |
| Plymouth Industrial REIT, Inc. | &nbsp;&nbsp;1017 | &nbsp;&nbsp;&nbsp;&nbsp;16333 |
| Prologis, Inc. | 15393 | 1618112 |
| Rexford Industrial Realty, Inc. | &nbsp;&nbsp;3750 | &nbsp;&nbsp;&nbsp;&nbsp;133388 |
| STAG Industrial, Inc. | &nbsp;&nbsp;3050 | &nbsp;&nbsp;&nbsp;&nbsp;110654 |
| Terreno Realty Corp. | &nbsp;&nbsp;1648 | &nbsp;&nbsp;&nbsp;&nbsp;92403 |
|  |  | 2534185 |
| **Office REITs – 0.1%** | **Office REITs – 0.1%** |  |
| Brandywine Realty Trust | &nbsp;&nbsp;3300 | &nbsp;&nbsp;&nbsp;&nbsp;14157 |
| BXP, Inc. | &nbsp;&nbsp;2614 | &nbsp;&nbsp;&nbsp;&nbsp;176367 |
| COPT Defense Properties | &nbsp;&nbsp;1872 | &nbsp;&nbsp;&nbsp;&nbsp;51630 |
| Cousins Properties, Inc. | &nbsp;&nbsp;2774 | &nbsp;&nbsp;&nbsp;&nbsp;83303 |
| Douglas Emmett, Inc. | &nbsp;&nbsp;2779 | &nbsp;&nbsp;&nbsp;&nbsp;41796 |
| Easterly Government Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;744 | &nbsp;&nbsp;&nbsp;&nbsp;16517 |
| Empire State Realty Trust, Inc., Class A | &nbsp;&nbsp;3031 | &nbsp;&nbsp;&nbsp;&nbsp;24521 |
| Highwoods Properties, Inc. | &nbsp;&nbsp;1765 | &nbsp;&nbsp;&nbsp;&nbsp;54874 |
| Hudson Pacific Properties, Inc. (A) | &nbsp;&nbsp;2595 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7110 |
| JBG SMITH Properties | &nbsp;&nbsp;1524 | &nbsp;&nbsp;&nbsp;&nbsp;26365 |
| Kilroy Realty Corp. | &nbsp;&nbsp;1936 | &nbsp;&nbsp;&nbsp;&nbsp;66424 |
| NET Lease Office Properties (A) | &nbsp;&nbsp;&nbsp;&nbsp;264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8593 |
| New York REIT Liquidating LLC (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;457 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2649 |
| Paramount Group, Inc. (A) | &nbsp;&nbsp;4404 | &nbsp;&nbsp;&nbsp;&nbsp;26864 |
| Peakstone Realty Trust | &nbsp;&nbsp;&nbsp;&nbsp;594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7847 |
| Piedmont Realty Trust, Inc. | &nbsp;&nbsp;2394 | &nbsp;&nbsp;&nbsp;&nbsp;17452 |
| Postal Realty Trust, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5848 |
| SL Green Realty Corp. | &nbsp;&nbsp;1176 | &nbsp;&nbsp;&nbsp;&nbsp;72794 |
| Vornado Realty Trust | &nbsp;&nbsp;3169 | &nbsp;&nbsp;&nbsp;&nbsp;121183 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;826294 |
| **Real estate management and development – 0.2%** | **Real estate management and development – 0.2%** |  |
| Anywhere Real Estate, Inc. (A) | &nbsp;&nbsp;2088 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7559 |
| CBRE Group, Inc., Class A (A) | &nbsp;&nbsp;4975 | &nbsp;&nbsp;&nbsp;&nbsp;697097 |
| Compass, Inc., Class A (A) | &nbsp;&nbsp;8654 | &nbsp;&nbsp;&nbsp;&nbsp;54347 |
| CoStar Group, Inc. (A) | &nbsp;&nbsp;6806 | &nbsp;&nbsp;&nbsp;&nbsp;547202 |
| eXp World Holdings, Inc. | &nbsp;&nbsp;2643 | &nbsp;&nbsp;&nbsp;&nbsp;24051 |
| Forestar Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;890 | &nbsp;&nbsp;&nbsp;&nbsp;17800 |
| FRP Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8578 |
| Howard Hughes Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;846 | &nbsp;&nbsp;&nbsp;&nbsp;57105 |
| Jones Lang LaSalle, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;757 | &nbsp;&nbsp;&nbsp;&nbsp;193625 |
| Kennedy-Wilson Holdings, Inc. | &nbsp;&nbsp;2770 | &nbsp;&nbsp;&nbsp;&nbsp;18836 |
| Marcus & Millichap, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;763 | &nbsp;&nbsp;&nbsp;&nbsp;23432 |
| Maui Land & Pineapple Company, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5985 |
| Newmark Group, Inc., Class A | &nbsp;&nbsp;2487 | &nbsp;&nbsp;&nbsp;&nbsp;30217 |
| Opendoor Technologies, Inc. (A)(B) | 12349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6582 |
| Redfin Corp. (A)(B) | &nbsp;&nbsp;2136 | &nbsp;&nbsp;&nbsp;&nbsp;23902 |
| Tejon Ranch Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;469 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7954 |
| The RMR Group, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;466 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7619 |
| The St. Joe Company | &nbsp;&nbsp;1002 | &nbsp;&nbsp;&nbsp;&nbsp;47795 |
| Zillow Group, Inc., Class A (A) | &nbsp;&nbsp;1020 | &nbsp;&nbsp;&nbsp;&nbsp;69860 |
| Zillow Group, Inc., Class C (A) | &nbsp;&nbsp;2910 | &nbsp;&nbsp;&nbsp;&nbsp;203846 |
|  |  | 2053392 |
| **Residential REITs – 0.3%** | **Residential REITs – 0.3%** |  |
| American Homes 4 Rent, Class A | &nbsp;&nbsp;6115 | &nbsp;&nbsp;&nbsp;&nbsp;220568 |
| Apartment Investment and Management Company, Class A | &nbsp;&nbsp;2782 | &nbsp;&nbsp;&nbsp;&nbsp;24064 |
| AvalonBay Communities, Inc. | &nbsp;&nbsp;2359 | &nbsp;&nbsp;&nbsp;&nbsp;480057 |
| BRT Apartments Corp. | &nbsp;&nbsp;&nbsp;&nbsp;329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5146 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Residential REITs (continued)** | **Residential REITs (continued)** |  |
| Camden Property Trust | &nbsp;&nbsp;1762 | $&nbsp;&nbsp;&nbsp;&nbsp;198560 |
| Centerspace | &nbsp;&nbsp;&nbsp;&nbsp;303 | &nbsp;&nbsp;&nbsp;&nbsp;18238 |
| Elme Communities | &nbsp;&nbsp;1585 | &nbsp;&nbsp;&nbsp;&nbsp;25202 |
| Equity LifeStyle Properties, Inc. | &nbsp;&nbsp;3170 | &nbsp;&nbsp;&nbsp;&nbsp;195494 |
| Equity Residential | &nbsp;&nbsp;6309 | &nbsp;&nbsp;&nbsp;&nbsp;425794 |
| Essex Property Trust, Inc. | &nbsp;&nbsp;1064 | &nbsp;&nbsp;&nbsp;&nbsp;301538 |
| Independence Realty Trust, Inc. | &nbsp;&nbsp;3815 | &nbsp;&nbsp;&nbsp;&nbsp;67487 |
| Invitation Homes, Inc. | 10164 | &nbsp;&nbsp;&nbsp;&nbsp;333379 |
| Mid-America Apartment Communities, Inc. | &nbsp;&nbsp;1935 | &nbsp;&nbsp;&nbsp;&nbsp;286399 |
| NexPoint Residential Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;494 | &nbsp;&nbsp;&nbsp;&nbsp;16460 |
| Sun Communities, Inc. | &nbsp;&nbsp;2117 | &nbsp;&nbsp;&nbsp;&nbsp;267779 |
| UDR, Inc. | &nbsp;&nbsp;5485 | &nbsp;&nbsp;&nbsp;&nbsp;223953 |
| UMH Properties, Inc. | &nbsp;&nbsp;1546 | &nbsp;&nbsp;&nbsp;&nbsp;25957 |
| Veris Residential, Inc. | &nbsp;&nbsp;1726 | &nbsp;&nbsp;&nbsp;&nbsp;25700 |
|  |  | 3141775 |
| **Retail REITs – 0.3%** | **Retail REITs – 0.3%** |  |
| Acadia Realty Trust | &nbsp;&nbsp;2036 | &nbsp;&nbsp;&nbsp;&nbsp;37809 |
| Agree Realty Corp. | &nbsp;&nbsp;1746 | &nbsp;&nbsp;&nbsp;&nbsp;127563 |
| Alexander's, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;106 | &nbsp;&nbsp;&nbsp;&nbsp;23884 |
| Brixmor Property Group, Inc. | &nbsp;&nbsp;5005 | &nbsp;&nbsp;&nbsp;&nbsp;130330 |
| CBL & Associates Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;540 | &nbsp;&nbsp;&nbsp;&nbsp;13711 |
| Curbline Properties Corp. | &nbsp;&nbsp;1813 | &nbsp;&nbsp;&nbsp;&nbsp;41391 |
| Federal Realty Investment Trust | &nbsp;&nbsp;1399 | &nbsp;&nbsp;&nbsp;&nbsp;132891 |
| FrontView REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5472 |
| Getty Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp;995 | &nbsp;&nbsp;&nbsp;&nbsp;27502 |
| InvenTrust Properties Corp. | &nbsp;&nbsp;1337 | &nbsp;&nbsp;&nbsp;&nbsp;36634 |
| Kimco Realty Corp. | 11161 | &nbsp;&nbsp;&nbsp;&nbsp;234604 |
| Kite Realty Group Trust | &nbsp;&nbsp;3599 | &nbsp;&nbsp;&nbsp;&nbsp;81517 |
| NETSTREIT Corp. | &nbsp;&nbsp;1391 | &nbsp;&nbsp;&nbsp;&nbsp;23550 |
| NNN REIT, Inc. | &nbsp;&nbsp;3076 | &nbsp;&nbsp;&nbsp;&nbsp;132822 |
| Phillips Edison & Company, Inc. | &nbsp;&nbsp;2129 | &nbsp;&nbsp;&nbsp;&nbsp;74579 |
| Realty Income Corp. | 14749 | &nbsp;&nbsp;&nbsp;&nbsp;849690 |
| Regency Centers Corp. | &nbsp;&nbsp;2991 | &nbsp;&nbsp;&nbsp;&nbsp;213049 |
| Saul Centers, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;391 | &nbsp;&nbsp;&nbsp;&nbsp;13349 |
| Simon Property Group, Inc. | &nbsp;&nbsp;5305 | &nbsp;&nbsp;&nbsp;&nbsp;852832 |
| SITE Centers Corp. | &nbsp;&nbsp;&nbsp;&nbsp;976 | &nbsp;&nbsp;&nbsp;&nbsp;11039 |
| Tanger, Inc. | &nbsp;&nbsp;1866 | &nbsp;&nbsp;&nbsp;&nbsp;57062 |
| The Macerich Company | &nbsp;&nbsp;4147 | &nbsp;&nbsp;&nbsp;&nbsp;67098 |
| Urban Edge Properties | &nbsp;&nbsp;2178 | &nbsp;&nbsp;&nbsp;&nbsp;40641 |
| Whitestone REIT | &nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp;13728 |
|  |  | 3242747 |
| **Specialized REITs – 0.8%** | **Specialized REITs – 0.8%** |  |
| American Tower Corp. | &nbsp;&nbsp;7763 | 1715778 |
| Crown Castle, Inc. | &nbsp;&nbsp;7214 | &nbsp;&nbsp;&nbsp;&nbsp;741094 |
| CubeSmart | &nbsp;&nbsp;3738 | &nbsp;&nbsp;&nbsp;&nbsp;158865 |
| Digital Realty Trust, Inc. | &nbsp;&nbsp;5588 | &nbsp;&nbsp;&nbsp;&nbsp;974156 |
| EPR Properties | &nbsp;&nbsp;1215 | &nbsp;&nbsp;&nbsp;&nbsp;70786 |
| Equinix, Inc. | &nbsp;&nbsp;1615 | 1284684 |
| Extra Space Storage, Inc. | &nbsp;&nbsp;3517 | &nbsp;&nbsp;&nbsp;&nbsp;518546 |
| Farmland Partners, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;986 | &nbsp;&nbsp;&nbsp;&nbsp;11349 |
| Four Corners Property Trust, Inc. | &nbsp;&nbsp;1717 | &nbsp;&nbsp;&nbsp;&nbsp;46204 |
| Gaming and Leisure Properties, Inc. | &nbsp;&nbsp;4491 | &nbsp;&nbsp;&nbsp;&nbsp;209640 |
| Gladstone Land Corp. | &nbsp;&nbsp;&nbsp;&nbsp;951 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9672 |
| Iron Mountain, Inc. | &nbsp;&nbsp;4877 | &nbsp;&nbsp;&nbsp;&nbsp;500234 |
| Lamar Advertising Company, Class A | &nbsp;&nbsp;1323 | &nbsp;&nbsp;&nbsp;&nbsp;160559 |
| National Storage Affiliates Trust | &nbsp;&nbsp;1279 | &nbsp;&nbsp;&nbsp;&nbsp;40915 |
| Outfront Media, Inc. | &nbsp;&nbsp;2653 | &nbsp;&nbsp;&nbsp;&nbsp;43297 |
| PotlatchDeltic Corp. | &nbsp;&nbsp;1334 | &nbsp;&nbsp;&nbsp;&nbsp;51186 |
| Public Storage | &nbsp;&nbsp;2917 | &nbsp;&nbsp;&nbsp;&nbsp;855906 |
| Rayonier, Inc. | &nbsp;&nbsp;2592 | &nbsp;&nbsp;&nbsp;&nbsp;57491 |
| Safehold, Inc. | &nbsp;&nbsp;1243 | &nbsp;&nbsp;&nbsp;&nbsp;19341 |
| SBA Communications Corp. | &nbsp;&nbsp;1784 | &nbsp;&nbsp;&nbsp;&nbsp;418955 |
| Uniti Group, Inc. (A) | &nbsp;&nbsp;4158 | &nbsp;&nbsp;&nbsp;&nbsp;17963 |
| VICI Properties, Inc. | 16349 | &nbsp;&nbsp;&nbsp;&nbsp;532977 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 165 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Total Stock Market Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Specialized REITs (continued)** | **Specialized REITs (continued)** |  |
| Weyerhaeuser Company | 12062 | $&nbsp;&nbsp;&nbsp;&nbsp;309873 |
|  |  | &nbsp;&nbsp;&nbsp;8749471 |
|  |  | 24739625 |
| **Utilities – 2.2%** |  |  |
| **Electric utilities – 1.3%** | **Electric utilities – 1.3%** |  |
| ALLETE, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;937 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60034 |
| Alliant Energy Corp. | &nbsp;&nbsp;4250 | &nbsp;&nbsp;&nbsp;&nbsp;256998 |
| American Electric Power Company, Inc. | &nbsp;&nbsp;8861 | &nbsp;&nbsp;&nbsp;&nbsp;919417 |
| Constellation Energy Corp. | &nbsp;&nbsp;5195 | &nbsp;&nbsp;&nbsp;1676738 |
| Duke Energy Corp. | 12904 | &nbsp;&nbsp;&nbsp;1522672 |
| Edison International | &nbsp;&nbsp;6386 | &nbsp;&nbsp;&nbsp;&nbsp;329518 |
| Entergy Corp. | &nbsp;&nbsp;7139 | &nbsp;&nbsp;&nbsp;&nbsp;593394 |
| Evergy, Inc. | &nbsp;&nbsp;3753 | &nbsp;&nbsp;&nbsp;&nbsp;258694 |
| Eversource Energy | &nbsp;&nbsp;6090 | &nbsp;&nbsp;&nbsp;&nbsp;387446 |
| Exelon Corp. | 16692 | &nbsp;&nbsp;&nbsp;&nbsp;724767 |
| FirstEnergy Corp. | &nbsp;&nbsp;9600 | &nbsp;&nbsp;&nbsp;&nbsp;386496 |
| Genie Energy, Ltd., B Shares | &nbsp;&nbsp;&nbsp;&nbsp;416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11182 |
| Hawaiian Electric Industries, Inc. (A) | &nbsp;&nbsp;2895 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30774 |
| IDACORP, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;896 | &nbsp;&nbsp;&nbsp;&nbsp;103443 |
| MGE Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55629 |
| NextEra Energy, Inc. | 34164 | &nbsp;&nbsp;&nbsp;2371665 |
| NRG Energy, Inc. | &nbsp;&nbsp;3282 | &nbsp;&nbsp;&nbsp;&nbsp;527024 |
| OGE Energy Corp. | &nbsp;&nbsp;3342 | &nbsp;&nbsp;&nbsp;&nbsp;148318 |
| Oklo, Inc. (A)(B) | &nbsp;&nbsp;2031 | &nbsp;&nbsp;&nbsp;&nbsp;113716 |
| Otter Tail Corp. | &nbsp;&nbsp;&nbsp;&nbsp;706 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54426 |
| PG&E Corp. | 35379 | &nbsp;&nbsp;&nbsp;&nbsp;493183 |
| Pinnacle West Capital Corp. | &nbsp;&nbsp;1954 | &nbsp;&nbsp;&nbsp;&nbsp;174824 |
| Portland General Electric Company | &nbsp;&nbsp;1783 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72443 |
| PPL Corp. | 12213 | &nbsp;&nbsp;&nbsp;&nbsp;413899 |
| The Southern Company | 18253 | &nbsp;&nbsp;&nbsp;1676173 |
| TXNM Energy, Inc. | &nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84480 |
| Xcel Energy, Inc. | &nbsp;&nbsp;9541 | &nbsp;&nbsp;&nbsp;&nbsp;649742 |
|  |  | 14097095 |
| **Gas utilities – 0.1%** | **Gas utilities – 0.1%** |  |
| Atmos Energy Corp. | &nbsp;&nbsp;2630 | &nbsp;&nbsp;&nbsp;&nbsp;405309 |
| Chesapeake Utilities Corp. | &nbsp;&nbsp;&nbsp;&nbsp;409 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49170 |
| MDU Resources Group, Inc. | &nbsp;&nbsp;3480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58012 |
| National Fuel Gas Company | &nbsp;&nbsp;1499 | &nbsp;&nbsp;&nbsp;&nbsp;126980 |
| New Jersey Resources Corp. | &nbsp;&nbsp;1688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75656 |
| Northwest Natural Holding Company | &nbsp;&nbsp;&nbsp;&nbsp;625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24825 |
| ONE Gas, Inc. | &nbsp;&nbsp;1003 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72076 |
| Southwest Gas Holdings, Inc. | &nbsp;&nbsp;1205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89640 |
| Spire, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70800 |
| UGI Corp. | &nbsp;&nbsp;3550 | &nbsp;&nbsp;&nbsp;&nbsp;129291 |
|  |  | &nbsp;&nbsp;&nbsp;1101759 |
| **Independent power and renewable electricity producers –<br> 0.2%** | **Independent power and renewable electricity producers –<br> 0.2%** |  |
| Clearway Energy, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;642 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19427 |
| Clearway Energy, Inc., Class C | &nbsp;&nbsp;1338 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42816 |
| Ormat Technologies, Inc. | &nbsp;&nbsp;1012 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84765 |
| Talen Energy Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;762 | &nbsp;&nbsp;&nbsp;&nbsp;221567 |
| The AES Corp. | 11741 | &nbsp;&nbsp;&nbsp;&nbsp;123515 |
| Vistra Corp. | &nbsp;&nbsp;5642 | &nbsp;&nbsp;&nbsp;1093476 |
|  |  | &nbsp;&nbsp;&nbsp;1585566 |
| **Multi-utilities – 0.5%** | **Multi-utilities – 0.5%** |  |
| Ameren Corp. | &nbsp;&nbsp;4479 | &nbsp;&nbsp;&nbsp;&nbsp;430163 |
| Avista Corp. | &nbsp;&nbsp;1352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51308 |
| Black Hills Corp. | &nbsp;&nbsp;1183 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66366 |
| CenterPoint Energy, Inc. | 10347 | &nbsp;&nbsp;&nbsp;&nbsp;380149 |
| CMS Energy Corp. | &nbsp;&nbsp;4930 | &nbsp;&nbsp;&nbsp;&nbsp;341550 |
| Consolidated Edison, Inc. | &nbsp;&nbsp;5752 | &nbsp;&nbsp;&nbsp;&nbsp;577213 |
| Dominion Energy, Inc. | 14162 | &nbsp;&nbsp;&nbsp;&nbsp;800436 |
| DTE Energy Company | &nbsp;&nbsp;3435 | &nbsp;&nbsp;&nbsp;&nbsp;455000 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Multi-utilities (continued)** | **Multi-utilities (continued)** |  |
| NiSource, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;7578 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;305697 |
| Northwestern Energy Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;1031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52890 |
| Public Service Enterprise Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;8266 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;695832 |
| Sempra | &nbsp;&nbsp;&nbsp;&nbsp;10819 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;819756 |
| Unitil Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;266 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13872 |
| WEC Energy Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;5232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;545174 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5535406 |
| **Water utilities – 0.1%** | **Water utilities – 0.1%** |  |
| American States Water Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;660 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50596 |
| American Water Works Company, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;3245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;451412 |
| Artesian Resources Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5403 |
| California Water Service Group | &nbsp;&nbsp;&nbsp;&nbsp;1022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46481 |
| Essential Utilities, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;4594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170621 |
| H2O America | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;576 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29935 |
| Middlesex Water Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15929 |
| The York Water Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7900 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;778277 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;23098103 |
| TOTAL COMMON STOCKS (Cost $410,158,145) | TOTAL COMMON STOCKS (Cost $410,158,145) | $1039483948 |
| **PREFERRED SECURITIES – 0.0%** |  |  |
| **Consumer discretionary – 0.0%** |  |  |
| **Broadline retail – 0.0%** | **Broadline retail – 0.0%** |  |
| QVC Group, Inc., 8.000% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1786 |
| **Industrials – 0.0%** |  |  |
| **Industrial conglomerates – 0.0%** | **Industrial conglomerates – 0.0%** |  |
| Steel Partners Holdings LP, 6.000% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12464 |
| TOTAL PREFERRED SECURITIES (Cost $82,033) | TOTAL PREFERRED SECURITIES (Cost $82,033) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14250 |
| **RIGHTS – 0.0%** |  |  |
| Gen Digital, Inc. (Expiration Date: 4-17-27) (A)(D) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1534 |
| TOTAL RIGHTS (Cost $733) | TOTAL RIGHTS (Cost $733) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1534 |
| **WARRANTS – 0.0%** |  |  |
| M-Tron Industries, Inc. (Expiration Date: 3-11-28; Strike Price: $47.50) (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48 |
| Nabors Industries, Ltd. (Expiration Date: 6-11-26; Strike Price: $166.67) (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51 |
| TOTAL WARRANTS (Cost $0) | TOTAL WARRANTS (Cost $0) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99 |
| **SHORT-TERM INVESTMENTS – 2.9%** | **SHORT-TERM INVESTMENTS – 2.9%** |  |
| **Short-term funds – 2.9%** |  |  |
| John Hancock Collateral Trust, 4.2596% (E)(F) | 3176369 | &nbsp;&nbsp;&nbsp;&nbsp;31771317 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $31,771,695) | TOTAL SHORT-TERM INVESTMENTS (Cost $31,771,695) | $&nbsp;&nbsp;&nbsp;&nbsp;31771317 |
| **Total Investments (Total Stock Market Index Trust)<br> (Cost $442,012,606) – 99.9%** | **Total Investments (Total Stock Market Index Trust)<br> (Cost $442,012,606) – 99.9%** | $**1071271148** |
| **Other assets and liabilities, net – 0.1%** | **Other assets and liabilities, net – 0.1%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**768382** |
| **TOTAL NET ASSETS – 100.0%** | **TOTAL NET ASSETS – 100.0%** | $**1072039530** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| ADR | American Depositary Receipt |
| CVR | Contingent Value Right |
| (A) | Non-income producing security. |
| (B) | All or a portion of this security is on loan as of 6-30-25. |
| (C) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements. |
| (D) | Strike price and/or expiration date not available. |
| (E) | The rate shown is the annualized seven-day yield as of 6-30-25. |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 166 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Total Stock Market Index Trust (continued)
(F) Investment is an affiliate of the fund, the advisor and/or subadvisor. A portion of this security represents the investment of cash collateral received for
securities lending. Market value of this investment amounted to $4,000,254.

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| Russell 2000 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;29 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;$3127461 | &nbsp;&nbsp;&nbsp;&nbsp;$3177965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$50504 |
| S&P 500 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;91 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;27757703 | &nbsp;&nbsp;&nbsp;&nbsp;28454563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;696860 |
| S&P Mid 400 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;307887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;312550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4663 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$752027** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

See Notes to financial statements regarding investment transactions and other derivatives information.

#### U.S. Growth Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS – 99.4%** | **COMMON STOCKS – 99.4%** |  |
| **Communication services – 15.4%** |  |  |
| **Entertainment – 4.6%** | **Entertainment – 4.6%** |  |
| Live Nation Entertainment, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63016 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9533060 |
| Netflix, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17237 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23082584 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32615644 |
| **Interactive media and services – 9.6%** | **Interactive media and services – 9.6%** |  |
| Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32947962 |
| Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35330892 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68278854 |
| **Wireless telecommunication services – 1.2%** | **Wireless telecommunication services – 1.2%** |  |
| T-Mobile US, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34542 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8229977 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109124475 |
| **Consumer discretionary – 13.6%** |  |  |
| **Automobiles – 1.6%** | **Automobiles – 1.6%** |  |
| Tesla, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34512 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10963082 |
| **Broadline retail – 6.6%** | **Broadline retail – 6.6%** |  |
| Amazon.com, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47008476 |
| **Hotels, restaurants and leisure – 4.3%** | **Hotels, restaurants and leisure – 4.3%** |  |
| Airbnb, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10803576 |
| DraftKings, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228759 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9811474 |
| Starbucks Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9447053 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30062103 |
| **Specialty retail – 1.1%** | **Specialty retail – 1.1%** |  |
| O'Reilly Automotive, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8060056 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96093717 |
| **Consumer staples – 3.7%** |  |  |
| **Beverages – 1.6%** | **Beverages – 1.6%** |  |
| The Coca-Cola Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11349008 |
| **Consumer staples distribution and retail – 1.0%** | **Consumer staples distribution and retail – 1.0%** |  |
| U.S. Foods Holding Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95447 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7350373 |
| **Tobacco – 1.1%** | **Tobacco – 1.1%** |  |
| Philip Morris International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7495014 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26194395 |
| **Energy – 1.9%** |  |  |
| **Oil, gas and consumable fuels – 1.9%** | **Oil, gas and consumable fuels – 1.9%** |  |
| Targa Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46874 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8159826 |
| The Williams Companies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79919 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5019712 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13179538 |

---

#### U.S. Growth Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Financials – 12.3%** |  |  |
| **Banks – 1.0%** | **Banks – 1.0%** |  |
| Wells Fargo & Company | &nbsp;&nbsp;87539 | $&nbsp;&nbsp;&nbsp;7013625 |
| **Capital markets – 4.7%** | **Capital markets – 4.7%** |  |
| Ares Management Corp., Class A | &nbsp;&nbsp;45140 | &nbsp;&nbsp;&nbsp;7818248 |
| Interactive Brokers Group, Inc., Class A | 144912 | &nbsp;&nbsp;&nbsp;8029574 |
| KKR & Company, Inc. | &nbsp;&nbsp;89010 | 11841000 |
| Nasdaq, Inc. | &nbsp;&nbsp;63839 | &nbsp;&nbsp;&nbsp;5708483 |
|  |  | 33397305 |
| **Consumer finance – 1.8%** | **Consumer finance – 1.8%** |  |
| American Express Company | &nbsp;&nbsp;40606 | 12952502 |
| **Financial services – 4.8%** | **Financial services – 4.8%** |  |
| Equitable Holdings, Inc. | 113179 | &nbsp;&nbsp;&nbsp;6349342 |
| Mastercard, Inc., Class A | &nbsp;&nbsp;48863 | 27458074 |
|  |  | 33807416 |
|  |  | 87170848 |
| **Health care – 6.5%** |  |  |
| **Biotechnology – 1.4%** | **Biotechnology – 1.4%** |  |
| Gilead Sciences, Inc. | &nbsp;&nbsp;86036 | &nbsp;&nbsp;&nbsp;9538811 |
| **Health care equipment and supplies – 1.0%** | **Health care equipment and supplies – 1.0%** |  |
| Boston Scientific Corp. (A) | &nbsp;&nbsp;68030 | &nbsp;&nbsp;&nbsp;7307102 |
| **Health care providers and services – 0.7%** | **Health care providers and services – 0.7%** |  |
| Cencora, Inc. | &nbsp;&nbsp;17379 | &nbsp;&nbsp;&nbsp;5211093 |
| **Pharmaceuticals – 3.4%** | **Pharmaceuticals – 3.4%** |  |
| Eli Lilly & Company | &nbsp;&nbsp;30493 | 23770208 |
|  |  | 45827214 |
| **Industrials – 5.3%** |  |  |
| **Aerospace and defense – 1.6%** | **Aerospace and defense – 1.6%** |  |
| General Electric Company | &nbsp;&nbsp;45265 | 11650758 |
| **Ground transportation – 1.8%** | **Ground transportation – 1.8%** |  |
| Uber Technologies, Inc. (A) | 136721 | 12756069 |
| **Machinery – 1.9%** | **Machinery – 1.9%** |  |
| Parker-Hannifin Corp. | &nbsp;&nbsp;19216 | 13421800 |
|  |  | 37828627 |
| **Information technology – 38.0%** |  |  |
| **Electronic equipment, instruments and components – 4.0%** | **Electronic equipment, instruments and components – 4.0%** |  |
| Flex, Ltd. (A) | 245154 | 12238088 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 167 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### U.S. Growth Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Electronic equipment, instruments and<br> components (continued)** | **Electronic equipment, instruments and<br> components (continued)** |  |
| Jabil, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;73837 | $&nbsp;&nbsp;&nbsp;16103850 |
|  |  | &nbsp;&nbsp;&nbsp;28341938 |
| **IT services – 1.6%** | **IT services – 1.6%** |  |
| GoDaddy, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;63057 | &nbsp;&nbsp;&nbsp;11354043 |
| **Semiconductors and semiconductor equipment – 18.2%** | **Semiconductors and semiconductor equipment – 18.2%** |  |
| Analog Devices, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;36449 | &nbsp;&nbsp;&nbsp;&nbsp;8675591 |
| Broadcom, Inc. | &nbsp;&nbsp;132099 | &nbsp;&nbsp;&nbsp;36413089 |
| NVIDIA Corp. | &nbsp;&nbsp;532563 | &nbsp;&nbsp;&nbsp;84139627 |
|  |  | 129228307 |
| **Software – 9.4%** | **Software – 9.4%** |  |
| Microsoft Corp. | &nbsp;&nbsp;&nbsp;&nbsp;96836 | &nbsp;&nbsp;&nbsp;48167195 |
| Salesforce, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;68360 | &nbsp;&nbsp;&nbsp;18641088 |
|  |  | &nbsp;&nbsp;&nbsp;66808283 |
| **Technology hardware, storage and peripherals – 4.8%** | **Technology hardware, storage and peripherals – 4.8%** |  |
| Apple, Inc. | &nbsp;&nbsp;164364 | &nbsp;&nbsp;&nbsp;33722562 |
|  |  | 269455133 |
| **Real estate – 2.7%** |  |  |
| **Health care REITs – 1.3%** | **Health care REITs – 1.3%** |  |
| Welltower, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;60719 | &nbsp;&nbsp;&nbsp;&nbsp;9334332 |
| **Specialized REITs – 1.4%** | **Specialized REITs – 1.4%** |  |
| American Tower Corp. | &nbsp;&nbsp;&nbsp;&nbsp;43692 | &nbsp;&nbsp;&nbsp;&nbsp;9656806 |
|  |  | &nbsp;&nbsp;&nbsp;18991138 |
| TOTAL COMMON STOCKS (Cost $485,098,038) | TOTAL COMMON STOCKS (Cost $485,098,038) | $703865085 |
| **SHORT-TERM INVESTMENTS – 0.4%** | **SHORT-TERM INVESTMENTS – 0.4%** |  |
| **Short-term funds – 0.4%** |  |  |
| State Street Institutional U.S. Government Money Market Fund, Premier Class, 4.2560% (B) | 2574859 | &nbsp;&nbsp;&nbsp;&nbsp;2574859 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $2,574,859) | TOTAL SHORT-TERM INVESTMENTS (Cost $2,574,859) | $&nbsp;&nbsp;&nbsp;&nbsp;2574859 |
| **Total Investments (U.S. Growth Trust)<br> (Cost $487,672,897) – 99.8%** | **Total Investments (U.S. Growth Trust)<br> (Cost $487,672,897) – 99.8%** | $**706439944** |
| **Other assets and liabilities, net – 0.2%** | **Other assets and liabilities, net – 0.2%** | &nbsp;&nbsp;&nbsp;&nbsp;**1573339** |
| **TOTAL NET ASSETS – 100.0%** | **TOTAL NET ASSETS – 100.0%** | $**708013283** |

---

<u>Security Abbreviations and Legend</u> <br> (A) Non-income producing security. <br> (B) The rate shown is the annualized seven-day yield as of 6-30-25.

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 168 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

The following portfolios had the following country composition as a percentage of net assets on 6-30-25:

#### Financial Industries Trust

---

| | |
|:---|:---|
| United States | &nbsp;&nbsp;87.6% |
| Switzerland | &nbsp;&nbsp;4.1% |
| Netherlands | &nbsp;&nbsp;2.0% |
| Puerto Rico | &nbsp;&nbsp;1.6% |
| Japan | &nbsp;&nbsp;1.5% |
| United Kingdom | &nbsp;&nbsp;1.2% |
| Ireland | &nbsp;&nbsp;1.0% |
| Spain | &nbsp;&nbsp;1.0% |
| &nbsp;&nbsp;&nbsp;**TOTAL** | &nbsp;&nbsp;**100.0%** |

---

#### Fundamental Large Cap Value Trust

---

| | |
|:---|:---|
| United States | &nbsp;&nbsp;85.4% |
| United Kingdom | &nbsp;&nbsp;3.3% |
| France | &nbsp;&nbsp;2.2% |
| South Korea | &nbsp;&nbsp;2.0% |
| Canada | &nbsp;&nbsp;1.5% |
| Belgium | &nbsp;&nbsp;1.5% |
| Switzerland | &nbsp;&nbsp;1.3% |
| Israel | &nbsp;&nbsp;1.1% |
| Netherlands | &nbsp;&nbsp;1.0% |
| Other countries | &nbsp;&nbsp;0.7% |
| &nbsp;&nbsp;&nbsp;**TOTAL** | &nbsp;&nbsp;**100.0%** |

---

#### Health Sciences Trust

---

| | |
|:---|:---|
| United States | &nbsp;&nbsp;88.3% |
| Netherlands | &nbsp;&nbsp;3.8% |
| United Kingdom | &nbsp;&nbsp;2.9% |
| Japan | &nbsp;&nbsp;1.1% |
| Denmark | &nbsp;&nbsp;1.1% |
| Switzerland | &nbsp;&nbsp;1.1% |
| Other countries | &nbsp;&nbsp;1.7% |
| &nbsp;&nbsp;&nbsp;**TOTAL** | &nbsp;&nbsp;**100.0%** |

---

#### Mid Value Trust

---

| | |
|:---|:---|
| United States | &nbsp;&nbsp;88.1% |
| Ireland | &nbsp;&nbsp;3.1% |
| United Kingdom | &nbsp;&nbsp;2.4% |
| Bermuda | &nbsp;&nbsp;1.8% |
| Canada | &nbsp;&nbsp;1.5% |
| Puerto Rico | &nbsp;&nbsp;1.3% |
| Other countries | &nbsp;&nbsp;1.8% |
| &nbsp;&nbsp;&nbsp;**TOTAL** | &nbsp;&nbsp;**100.0%** |

---

#### Strategic Equity Allocation Trust

---

| | |
|:---|:---|
| United States | &nbsp;&nbsp;67.3% |
| Japan | &nbsp;&nbsp;6.8% |
| United Kingdom | &nbsp;&nbsp;4.6% |
| France | &nbsp;&nbsp;3.4% |
| Switzerland | &nbsp;&nbsp;3.3% |
| Germany | &nbsp;&nbsp;3.2% |
| Australia | &nbsp;&nbsp;2.1% |
| Netherlands | &nbsp;&nbsp;1.6% |
| Sweden | &nbsp;&nbsp;1.2% |
| Spain | &nbsp;&nbsp;1.0% |
| Other countries | &nbsp;&nbsp;5.5% |
| &nbsp;&nbsp;&nbsp;**TOTAL** | &nbsp;&nbsp;**100.0%** |

---

The following portfolios had the following sector composition as a percentage of net assets on 6-30-25:

#### Disciplined Value Emerging Markets Equity Trust

---

| | |
|:---|:---|
| Information technology | &nbsp;&nbsp;17.3% |
| Communication services | &nbsp;&nbsp;13.5% |
| Consumer staples | &nbsp;&nbsp;11.9% |
| Financials | &nbsp;&nbsp;11.8% |
| Consumer discretionary | &nbsp;&nbsp;10.9% |
| Health care | &nbsp;&nbsp;7.7% |
| Materials | &nbsp;&nbsp;7.7% |
| Industrials | &nbsp;&nbsp;7.5% |
| Energy | &nbsp;&nbsp;1.6% |
| Real estate | &nbsp;&nbsp;1.6% |
| Utilities | &nbsp;&nbsp;0.4% |
| Short-term investments and other | &nbsp;&nbsp;8.1% |
| &nbsp;&nbsp;&nbsp;**TOTAL** | &nbsp;&nbsp;**100.0%** |

---

#### Disciplined Value International Trust

---

| | |
|:---|:---|
| Financials | &nbsp;&nbsp;22.3% |
| Industrials | &nbsp;&nbsp;21.4% |
| Health care | &nbsp;&nbsp;8.7% |
| Materials | &nbsp;&nbsp;8.0% |
| Energy | &nbsp;&nbsp;7.8% |
| Consumer staples | &nbsp;&nbsp;7.4% |
| Consumer discretionary | &nbsp;&nbsp;6.8% |
| Communication services | &nbsp;&nbsp;6.5% |
| Information technology | &nbsp;&nbsp;6.3% |
| Utilities | &nbsp;&nbsp;1.9% |
| Short-term investments and other | &nbsp;&nbsp;2.9% |
| &nbsp;&nbsp;&nbsp;**TOTAL** | &nbsp;&nbsp;**100.0%** |

---

#### Global Equity Trust

---

| | |
|:---|:---|
| Financials | &nbsp;&nbsp;19.4% |
| Industrials | &nbsp;&nbsp;16.1% |
| Information technology | &nbsp;&nbsp;13.4% |
| Consumer discretionary | &nbsp;&nbsp;11.0% |
| Health care | &nbsp;&nbsp;10.9% |
| Consumer staples | &nbsp;&nbsp;9.3% |
| Communication services | &nbsp;&nbsp;6.7% |
| Materials | &nbsp;&nbsp;6.2% |
| Energy | &nbsp;&nbsp;5.5% |
| Short-term investments and other | &nbsp;&nbsp;1.5% |
| &nbsp;&nbsp;&nbsp;**TOTAL** | &nbsp;&nbsp;**100.0%** |

---

#### International Equity Index Trust

---

| | |
|:---|:---|
| Financials | &nbsp;&nbsp;24.5% |
| Industrials | &nbsp;&nbsp;14.7% |
| Information technology | &nbsp;&nbsp;13.2% |
| Consumer discretionary | &nbsp;&nbsp;10.1% |
| Health care | &nbsp;&nbsp;8.0% |
| Consumer staples | &nbsp;&nbsp;6.6% |
| Communication services | &nbsp;&nbsp;6.3% |
| Materials | &nbsp;&nbsp;6.2% |
| Energy | &nbsp;&nbsp;4.5% |
| Utilities | &nbsp;&nbsp;3.1% |
| Real estate | &nbsp;&nbsp;1.6% |
| Short-term investments and other | &nbsp;&nbsp;1.2% |
| &nbsp;&nbsp;&nbsp;**TOTAL** | &nbsp;&nbsp;**100.0%** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 169 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### International Small Company Trust

---

| | |
|:---|:---|
| Industrials | &nbsp;&nbsp;24.3% |
| Financials | &nbsp;&nbsp;14.3% |
| Materials | &nbsp;&nbsp;12.7% |
| Consumer discretionary | &nbsp;&nbsp;12.2% |
| Information technology | &nbsp;&nbsp;7.9% |
| Consumer staples | &nbsp;&nbsp;5.4% |
| Health care | &nbsp;&nbsp;5.4% |
| Energy | &nbsp;&nbsp;4.8% |
| Real estate | &nbsp;&nbsp;4.5% |
| Communication services | &nbsp;&nbsp;3.6% |
| Utilities | &nbsp;&nbsp;3.4% |
| Short-term investments and other | &nbsp;&nbsp;1.5% |
| &nbsp;&nbsp;&nbsp;**TOTAL** | &nbsp;&nbsp;**100.0%** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 170 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Statements of assets and liabilities — June 30, 2025 (unaudited)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Assets** | &nbsp;&nbsp;&nbsp;&nbsp;**500 Index Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**American Asset Allocation Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**American Global Growth Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**American Growth Trust** |
| Unaffiliated investments, at value (including securities loaned) | &nbsp;&nbsp;&nbsp;&nbsp;$10960366402 | &nbsp;&nbsp;&nbsp;&nbsp;$1209368178 | &nbsp;&nbsp;&nbsp;&nbsp;$200508297 | &nbsp;&nbsp;&nbsp;&nbsp;$1064172000 |
| Affiliated investments, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;292707323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments, at value** | &nbsp;&nbsp;&nbsp;&nbsp;**11253073725** | &nbsp;&nbsp;&nbsp;&nbsp;**1209368178** | &nbsp;&nbsp;&nbsp;&nbsp;**200508297** | &nbsp;&nbsp;&nbsp;&nbsp;**1064172000** |
| Receivable for futures variation margin | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27322753 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Cash | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Collateral held at broker for futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25252000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Dividends and interest receivable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6525709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for fund shares sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16227 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11539 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30364 |
| Receivable for investments sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;783240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3835468 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22598633 |
| Receivable for securities lending income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1444 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable from affiliates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;237051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Other assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207458 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36849 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6524 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26646 |
| **Total assets** | &nbsp;&nbsp;&nbsp;&nbsp;**11312673474** | &nbsp;&nbsp;&nbsp;&nbsp;**1210204494** | &nbsp;&nbsp;&nbsp;&nbsp;**204361828** | &nbsp;&nbsp;&nbsp;&nbsp;**1086827643** |
| **Liabilities** |  |  |  |  |
| Payable for fund shares repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9153092 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;779132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3843740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22611325 |
| Payable upon return of securities loaned | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1309100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable to affiliates |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;453774 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8082 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43320 |
| &nbsp;&nbsp;&nbsp;Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;783 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;306 |
| Other liabilities and accrued expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;925482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26321 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38247 |
| **Total liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11842231** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**872090** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3878361** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**22693198** |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$11300831243** | &nbsp;&nbsp;&nbsp;&nbsp;**$1209332404** | &nbsp;&nbsp;&nbsp;&nbsp;**$200483467** | &nbsp;&nbsp;&nbsp;&nbsp;**$1064134445** |
| **Net assets consist of** |  |  |  |  |
| Paid-in capital | &nbsp;&nbsp;&nbsp;&nbsp;$3489006551 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$889147588 | &nbsp;&nbsp;&nbsp;&nbsp;$137988346 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$556920443 |
| Total distributable earnings (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7811824692 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320184816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62495121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;507214002 |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$11300831243** | &nbsp;&nbsp;&nbsp;&nbsp;**$1209332404** | &nbsp;&nbsp;&nbsp;&nbsp;**$200483467** | &nbsp;&nbsp;&nbsp;&nbsp;**$1064134445** |
| Unaffiliated investments, including repurchase agreements, at cost | &nbsp;&nbsp;&nbsp;&nbsp;$3465876157 | &nbsp;&nbsp;&nbsp;&nbsp;$1072602818 | &nbsp;&nbsp;&nbsp;&nbsp;$182931056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$755350698 |
| Affiliated investments, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$292714490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Securities loaned, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1261771 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Net asset value per share** |  |  |  |  |
| The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. | The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. |  |  |  |
| **Series I** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$7760905518 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$400969263 | &nbsp;&nbsp;&nbsp;&nbsp;$60199138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$388243086 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120405600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37715022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3772229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19048916 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$64.46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10.63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$15.96 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$20.38 |
| **Series II** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$91978298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$703488774 | &nbsp;&nbsp;&nbsp;&nbsp;$113679332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$584596005 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1428711 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66186254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7182070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29308141 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$64.38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10.63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$15.83 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$19.95 |
| **Series III** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$104874367 | &nbsp;&nbsp;&nbsp;&nbsp;$26604997 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$91295354 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9827007 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1654047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4483141 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10.67 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$16.08 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$20.36 |
| **Series NAV** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$3447947427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53474392 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$64.48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 171 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Statements of assets and liabilities — June 30, 2025 (unaudited)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Assets** | &nbsp;&nbsp;&nbsp;&nbsp;**American Growth-Income Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**American International Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Blue Chip Growth Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Capital Appreciation Value Trust** |
| Unaffiliated investments, at value (including securities loaned) | &nbsp;&nbsp;&nbsp;&nbsp;$976985134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$2117156604 | &nbsp;&nbsp;&nbsp;&nbsp;$482999449 |
| Affiliated investments, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$369867044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2395895 |
| Repurchase agreements, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2208000 |
| **Total investments, at value** | &nbsp;&nbsp;&nbsp;&nbsp;**976985134** | &nbsp;&nbsp;&nbsp;&nbsp;**369867044** | &nbsp;&nbsp;&nbsp;&nbsp;**2117156604** | &nbsp;&nbsp;&nbsp;&nbsp;**487603344** |
| Cash | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;774 |
| Foreign currency, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195930 |
| Dividends and interest receivable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;507353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1623167 |
| Receivable for fund shares sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14959 |
| Receivable for investments sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7834113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5024283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80594 |
| Receivable for securities lending income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1659 |
| Other assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52726 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12938 |
| **Total assets** | &nbsp;&nbsp;&nbsp;&nbsp;**984846630** | &nbsp;&nbsp;&nbsp;&nbsp;**374903429** | &nbsp;&nbsp;&nbsp;&nbsp;**2117716691** | &nbsp;&nbsp;&nbsp;&nbsp;**489533365** |
| **Liabilities** |  |  |  |  |
| Written options, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1113909 |
| Payable for investments purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2069088 |
| Payable for fund shares repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7818959 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5017902 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6785831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96805 |
| Payable upon return of securities loaned | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2395800 |
| Payable to affiliates |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38802 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83212 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19832 |
| &nbsp;&nbsp;&nbsp;Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;274 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;298 |
| Other liabilities and accrued expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150739 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62382 |
| **Total liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7897988** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5062226** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7079040** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5758114** |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$976948642** | &nbsp;&nbsp;&nbsp;&nbsp;**$369841203** | &nbsp;&nbsp;&nbsp;&nbsp;**$2110637651** | &nbsp;&nbsp;&nbsp;&nbsp;**$483775251** |
| **Net assets consist of** |  |  |  |  |
| Paid-in capital | &nbsp;&nbsp;&nbsp;&nbsp;$538302771 | &nbsp;&nbsp;&nbsp;&nbsp;$365373856 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$745597111 | &nbsp;&nbsp;&nbsp;&nbsp;$358391864 |
| Total distributable earnings (loss) | &nbsp;&nbsp;&nbsp;&nbsp;438645871 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4467347 | &nbsp;&nbsp;&nbsp;&nbsp;1365040540 | &nbsp;&nbsp;&nbsp;&nbsp;125383387 |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$976948642** | &nbsp;&nbsp;&nbsp;&nbsp;**$369841203** | &nbsp;&nbsp;&nbsp;&nbsp;**$2110637651** | &nbsp;&nbsp;&nbsp;&nbsp;**$483775251** |
| Unaffiliated investments, including repurchase agreements, at cost | &nbsp;&nbsp;&nbsp;&nbsp;$817840678 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$1162325301 | &nbsp;&nbsp;&nbsp;&nbsp;$439521566 |
| Affiliated investments, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$345021764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2395890 |
| Foreign currency, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$172740 |
| Premiums received on written options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$771087 |
| Securities loaned, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$100540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2252052 |
| **Net asset value per share** |  |  |  |  |
| The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. | The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. |  |  |  |
| **Series I** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$380310096 | &nbsp;&nbsp;&nbsp;&nbsp;$138773114 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$359854523 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9611071 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19541793 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8403131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9906927 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;744651 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$19.46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$16.51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$36.32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$12.91 |
| **Series II** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$420664781 | &nbsp;&nbsp;&nbsp;&nbsp;$204453768 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$113299246 | &nbsp;&nbsp;&nbsp;&nbsp;$229198032 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21782860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12393013 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3414266 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17931958 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$19.31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$16.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$33.18 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$12.78 |
| **Series III** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$175973765 | &nbsp;&nbsp;&nbsp;&nbsp;$26614321 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9046458 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1617037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$19.45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$16.46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Series NAV** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$1637483882 | &nbsp;&nbsp;&nbsp;&nbsp;$244966148 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44839500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19059027 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$36.52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$12.85 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 172 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Statements of assets and liabilities — June 30, 2025 (unaudited)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Assets** | &nbsp;&nbsp;&nbsp;&nbsp;**Disciplined Value Emerging Markets Equity Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Disciplined Value International Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Equity Income Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Financial Industries Trust** |
| Unaffiliated investments, at value (including securities loaned) | &nbsp;&nbsp;&nbsp;&nbsp;$230899708 | &nbsp;&nbsp;&nbsp;&nbsp;$299315085 | &nbsp;&nbsp;&nbsp;&nbsp;$820255969 | &nbsp;&nbsp;&nbsp;&nbsp;$135072903 |
| Affiliated investments, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7297642 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8122685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3917901 |
| **Total investments, at value** | &nbsp;&nbsp;&nbsp;&nbsp;**238197350** | &nbsp;&nbsp;&nbsp;&nbsp;**299361235** | &nbsp;&nbsp;&nbsp;&nbsp;**828378654** | &nbsp;&nbsp;&nbsp;&nbsp;**138990804** |
| Swap contracts, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;312380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Foreign currency, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4105317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1007544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87 |
| Collateral segregated at custodian for OTC derivative contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2240000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Dividends and interest receivable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;810433 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1190204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1965237 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145087 |
| Receivable for fund shares sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104403 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158768 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;404686 |
| Receivable for investments sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5155081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1061847 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3265153 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for securities lending income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7595 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Other assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7339 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42077 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4398 |
| **Total assets** | &nbsp;&nbsp;&nbsp;&nbsp;**250941471** | &nbsp;&nbsp;&nbsp;&nbsp;**302794532** | &nbsp;&nbsp;&nbsp;&nbsp;**833761011** | &nbsp;&nbsp;&nbsp;&nbsp;**139545062** |
| **Liabilities** |  |  |  |  |
| Due to custodian | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;739229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for investments purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3316523 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;392639 |
| Payable for fund shares repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;218249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17619 |
| Payable upon return of securities loaned | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7296865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8112459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable to affiliates |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25786 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5727 |
| &nbsp;&nbsp;&nbsp;Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;351 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167 |
| Other liabilities and accrued expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46244 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30928 |
| **Total liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10760217** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**323141** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9127015** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**447080** |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$240181254** | &nbsp;&nbsp;&nbsp;&nbsp;**$302471391** | &nbsp;&nbsp;&nbsp;&nbsp;**$824633996** | &nbsp;&nbsp;&nbsp;&nbsp;**$139097982** |
| **Net assets consist of** |  |  |  |  |
| Paid-in capital | &nbsp;&nbsp;&nbsp;&nbsp;$260487005 | &nbsp;&nbsp;&nbsp;&nbsp;$216541443 | &nbsp;&nbsp;&nbsp;&nbsp;$323201921 | &nbsp;&nbsp;&nbsp;&nbsp;$90985645 |
| Total distributable earnings (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20305751) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85929948 | &nbsp;&nbsp;&nbsp;&nbsp;501432075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48112337 |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$240181254** | &nbsp;&nbsp;&nbsp;&nbsp;**$302471391** | &nbsp;&nbsp;&nbsp;&nbsp;**$824633996** | &nbsp;&nbsp;&nbsp;&nbsp;**$139097982** |
| Unaffiliated investments, including repurchase agreements, at cost | &nbsp;&nbsp;&nbsp;&nbsp;$209609167 | &nbsp;&nbsp;&nbsp;&nbsp;$253765497 | &nbsp;&nbsp;&nbsp;&nbsp;$681007601 | &nbsp;&nbsp;&nbsp;&nbsp;$105172067 |
| Affiliated investments, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7297611 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$46150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8122627 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3917866 |
| Foreign currency, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4087838 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$999096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$12081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$86 |
| Securities loaned, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6946096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$43929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7824481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Net asset value per share** |  |  |  |  |
| The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. | The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. |  |  |  |
| **Series I** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5794301 | &nbsp;&nbsp;&nbsp;&nbsp;$81418267 | &nbsp;&nbsp;&nbsp;&nbsp;$211041660 | &nbsp;&nbsp;&nbsp;&nbsp;$90616625 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;544523 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4599089 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14087499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6006832 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10.64 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$17.70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$14.98 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$15.09 |
| **Series II** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$22145415 | &nbsp;&nbsp;&nbsp;&nbsp;$47199645 | &nbsp;&nbsp;&nbsp;&nbsp;$96210651 | &nbsp;&nbsp;&nbsp;&nbsp;$15977576 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2083041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2672788 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6491676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1075034 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10.63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$17.66 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$14.82 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$14.86 |
| **Series NAV** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$212241538 | &nbsp;&nbsp;&nbsp;&nbsp;$173853479 | &nbsp;&nbsp;&nbsp;&nbsp;$517381685 | &nbsp;&nbsp;&nbsp;&nbsp;$32503781 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19975963 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9917389 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34845433 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2164705 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10.62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$17.53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$14.85 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$15.02 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 173 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Statements of assets and liabilities — June 30, 2025 (unaudited)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Assets** | &nbsp;&nbsp;&nbsp;&nbsp;**Fundamental All Cap Core Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Fundamental Large Cap Value Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Global Equity Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Health Sciences Trust** |
| Unaffiliated investments, at value (including securities loaned) | &nbsp;&nbsp;&nbsp;&nbsp;$2490784164 | &nbsp;&nbsp;&nbsp;&nbsp;$811854869 | &nbsp;&nbsp;&nbsp;&nbsp;$294253970 | &nbsp;&nbsp;&nbsp;&nbsp;$212536464 |
| Affiliated investments, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;999072 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4217401 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments, at value** | &nbsp;&nbsp;&nbsp;&nbsp;**2491783236** | &nbsp;&nbsp;&nbsp;&nbsp;**816072270** | &nbsp;&nbsp;&nbsp;&nbsp;**294253970** | &nbsp;&nbsp;&nbsp;&nbsp;**212536464** |
| Foreign currency, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1347052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14362 |
| Dividends and interest receivable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;852284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;757680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;671817 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136414 |
| Receivable for fund shares sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1266739 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for investments sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33923647 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41019 |
| Other assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20567 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12904 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8545 |
| **Total assets** | &nbsp;&nbsp;&nbsp;&nbsp;**2526618881** | &nbsp;&nbsp;&nbsp;&nbsp;**816865651** | &nbsp;&nbsp;&nbsp;&nbsp;**297552482** | &nbsp;&nbsp;&nbsp;&nbsp;**212736804** |
| **Liabilities** |  |  |  |  |
| Payable for investments purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25466526 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7688 |
| Payable for fund shares repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;804415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;735065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2071682 |
| Payable to affiliates |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97849 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11837 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8212 |
| &nbsp;&nbsp;&nbsp;Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;997 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;433 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;338 |
| Other liabilities and accrued expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70643 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57407 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44206 |
| **Total liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**26557121** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**838286** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**80967** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2132126** |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$2500061760** | &nbsp;&nbsp;&nbsp;&nbsp;**$816027365** | &nbsp;&nbsp;&nbsp;&nbsp;**$297471515** | &nbsp;&nbsp;&nbsp;&nbsp;**$210604678** |
| **Net assets consist of** |  |  |  |  |
| Paid-in capital | &nbsp;&nbsp;&nbsp;&nbsp;$1188495785 | &nbsp;&nbsp;&nbsp;&nbsp;$445645400 | &nbsp;&nbsp;&nbsp;&nbsp;$201833876 | &nbsp;&nbsp;&nbsp;&nbsp;$158907209 |
| Total distributable earnings (loss) | &nbsp;&nbsp;&nbsp;&nbsp;1311565975 | &nbsp;&nbsp;&nbsp;&nbsp;370381965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95637639 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51697469 |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$2500061760** | &nbsp;&nbsp;&nbsp;&nbsp;**$816027365** | &nbsp;&nbsp;&nbsp;&nbsp;**$297471515** | &nbsp;&nbsp;&nbsp;&nbsp;**$210604678** |
| Unaffiliated investments, including repurchase agreements, at cost | &nbsp;&nbsp;&nbsp;&nbsp;$1609520681 | &nbsp;&nbsp;&nbsp;&nbsp;$592237588 | &nbsp;&nbsp;&nbsp;&nbsp;$245169223 | &nbsp;&nbsp;&nbsp;&nbsp;$187543822 |
| Affiliated investments, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$999077 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4217545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Foreign currency, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1330885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13981 |
| **Net asset value per share** |  |  |  |  |
| The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. | The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. |  |  |  |
| **Series I** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$98906686 | &nbsp;&nbsp;&nbsp;&nbsp;$459596169 | &nbsp;&nbsp;&nbsp;&nbsp;$220442890 | &nbsp;&nbsp;&nbsp;&nbsp;$40475939 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3042602 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16075538 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8686472 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1870845 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$32.51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$28.59 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$25.38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$21.64 |
| **Series II** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$47283822 | &nbsp;&nbsp;&nbsp;&nbsp;$148939180 | &nbsp;&nbsp;&nbsp;&nbsp;$21004043 | &nbsp;&nbsp;&nbsp;&nbsp;$38086669 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1466220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5157486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;835630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2077593 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$32.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$28.88 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$25.14 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$18.33 |
| **Series NAV** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$2353871252 | &nbsp;&nbsp;&nbsp;&nbsp;$207492016 | &nbsp;&nbsp;&nbsp;&nbsp;$56024582 | &nbsp;&nbsp;&nbsp;&nbsp;$132042070 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71686287 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7249866 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2208960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5921278 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$32.84 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$28.62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$25.36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$22.30 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 174 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Statements of assets and liabilities — June 30, 2025 (unaudited)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Assets** | &nbsp;&nbsp;&nbsp;&nbsp;**International Equity Index Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**International Small Company Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Lifestyle Balanced Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;**Lifestyle Conservative Portfolio** |
| Unaffiliated investments, at value (including securities loaned) | &nbsp;&nbsp;&nbsp;&nbsp;$1065786922 | &nbsp;&nbsp;&nbsp;&nbsp;$103853557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Affiliated investments, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4255488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2383284 | &nbsp;&nbsp;&nbsp;&nbsp;$979528784 | &nbsp;&nbsp;&nbsp;&nbsp;$153091284 |
| **Total investments, at value** | &nbsp;&nbsp;&nbsp;&nbsp;**1070042410** | &nbsp;&nbsp;&nbsp;&nbsp;**106236841** | &nbsp;&nbsp;&nbsp;&nbsp;**979528784** | &nbsp;&nbsp;&nbsp;&nbsp;**153091284** |
| Receivable for futures variation margin | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Cash | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264137 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;478802 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Foreign currency, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3458365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Collateral held at broker for futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;814473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24589 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Dividends and interest receivable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4513815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;449318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for fund shares sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370834 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12497 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2379 |
| Receivable for investments sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;313750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97364 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180438 |
| Receivable for securities lending income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3006 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3446 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable from affiliates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116248 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;557 |
| Other assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6229 |
| **Total assets** | &nbsp;&nbsp;&nbsp;&nbsp;**1079768729** | &nbsp;&nbsp;&nbsp;&nbsp;**107918883** | &nbsp;&nbsp;&nbsp;&nbsp;**979668761** | &nbsp;&nbsp;&nbsp;&nbsp;**153280887** |
| **Liabilities** |  |  |  |  |
| Foreign capital gains tax payable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2796562 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for fund shares repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;326399 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96636 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103810 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181732 |
| Payable upon return of securities loaned | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2290565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2381604 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable to affiliates |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46523 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40069 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6272 |
| &nbsp;&nbsp;&nbsp;Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;218 |
| Other liabilities and accrued expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290348 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34559 |
| **Total liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5751463** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2538863** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**191525** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**222781** |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$1074017266** | &nbsp;&nbsp;&nbsp;&nbsp;**$105380020** | &nbsp;&nbsp;&nbsp;&nbsp;**$979477236** | &nbsp;&nbsp;&nbsp;&nbsp;**$153058106** |
| **Net assets consist of** |  |  |  |  |
| Paid-in capital | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$665594271 | &nbsp;&nbsp;&nbsp;&nbsp;$91320776 | &nbsp;&nbsp;&nbsp;&nbsp;$946667626 | &nbsp;&nbsp;&nbsp;&nbsp;$171967296 |
| Total distributable earnings (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;408422995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14059244 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32809610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18909190) |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$1074017266** | &nbsp;&nbsp;&nbsp;&nbsp;**$105380020** | &nbsp;&nbsp;&nbsp;&nbsp;**$979477236** | &nbsp;&nbsp;&nbsp;&nbsp;**$153058106** |
| Unaffiliated investments, including repurchase agreements, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$679357945 | &nbsp;&nbsp;&nbsp;&nbsp;$99292987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Affiliated investments, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3475958 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2383302 | &nbsp;&nbsp;&nbsp;&nbsp;$978672243 | &nbsp;&nbsp;&nbsp;&nbsp;$162806064 |
| Foreign currency, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3420641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$403628 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Securities loaned, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2233655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2239752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Net asset value per share** |  |  |  |  |
| The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. | The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. |  |  |  |
| **Series I** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$365588931 | &nbsp;&nbsp;&nbsp;&nbsp;$20718543 | &nbsp;&nbsp;&nbsp;&nbsp;$36184190 | &nbsp;&nbsp;&nbsp;&nbsp;$12509092 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16268665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1336238 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2590517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1056074 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$22.47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$15.51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13.97 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.84 |
| **Series II** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$19322433 | &nbsp;&nbsp;&nbsp;&nbsp;$14112479 | &nbsp;&nbsp;&nbsp;&nbsp;$732290188 | &nbsp;&nbsp;&nbsp;&nbsp;$133333287 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;859470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;912702 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52341823 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11250945 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$22.48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$15.46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13.99 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.85 |
| **Series NAV** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$689105902 | &nbsp;&nbsp;&nbsp;&nbsp;$70548998 | &nbsp;&nbsp;&nbsp;&nbsp;$211002858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7215727 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30669400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4545818 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15123111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;609709 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$22.47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$15.52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13.95 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.83 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 175 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Statements of assets and liabilities — June 30, 2025 (unaudited)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Assets** | &nbsp;&nbsp;&nbsp;&nbsp;**Lifestyle Growth Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;**Lifestyle Moderate Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;**Mid Cap Growth Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Mid Cap Index Trust** |
| Unaffiliated investments, at value (including securities loaned) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$639372803 | &nbsp;&nbsp;&nbsp;&nbsp;$1137269475 |
| Affiliated investments, at value | &nbsp;&nbsp;&nbsp;&nbsp;$5133835864 | &nbsp;&nbsp;&nbsp;&nbsp;$269564631 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49074281 |
| Repurchase agreements, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments, at value** | &nbsp;&nbsp;&nbsp;&nbsp;**5133835864** | &nbsp;&nbsp;&nbsp;&nbsp;**269564631** | &nbsp;&nbsp;&nbsp;&nbsp;**658972803** | &nbsp;&nbsp;&nbsp;&nbsp;**1186343756** |
| Cash | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Collateral held at broker for futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3493100 |
| Dividends and interest receivable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1176549 |
| Receivable for fund shares sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;283473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395403 |
| Receivable for investments sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2528932 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for securities lending income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1696 |
| Receivable from affiliates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;441 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Other assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34561 |
| **Total assets** | &nbsp;&nbsp;&nbsp;&nbsp;**5136673755** | &nbsp;&nbsp;&nbsp;&nbsp;**269709003** | &nbsp;&nbsp;&nbsp;&nbsp;**659455716** | &nbsp;&nbsp;&nbsp;&nbsp;**1191445065** |
| **Liabilities** |  |  |  |  |
| Payable for futures variation margin | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9559 |
| Payable for investments purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132507 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8313126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for fund shares repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2640880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1049171 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1487907 |
| Payable upon return of securities loaned | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12567450 |
| Payable to affiliates |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10911 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26717 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47774 |
| &nbsp;&nbsp;&nbsp;Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2302 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;708 |
| Other liabilities and accrued expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122837 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106453 |
| **Total liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2973014** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**179979** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9463440** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14219851** |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$5133700741** | &nbsp;&nbsp;&nbsp;&nbsp;**$269529024** | &nbsp;&nbsp;&nbsp;&nbsp;**$649992276** | &nbsp;&nbsp;&nbsp;&nbsp;**$1177225214** |
| **Net assets consist of** |  |  |  |  |
| Paid-in capital | &nbsp;&nbsp;&nbsp;&nbsp;$4583310169 | &nbsp;&nbsp;&nbsp;&nbsp;$276689972 | &nbsp;&nbsp;&nbsp;&nbsp;$570583132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$780502570 |
| Total distributable earnings (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550390572 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7160948) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79409144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;396722644 |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$5133700741** | &nbsp;&nbsp;&nbsp;&nbsp;**$269529024** | &nbsp;&nbsp;&nbsp;&nbsp;**$649992276** | &nbsp;&nbsp;&nbsp;&nbsp;**$1177225214** |
| Unaffiliated investments, including repurchase agreements, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$569464509 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$869035527 |
| Affiliated investments, at cost | &nbsp;&nbsp;&nbsp;&nbsp;$4944397487 | &nbsp;&nbsp;&nbsp;&nbsp;$275572891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$49074631 |
| Securities loaned, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$12251465 |
| **Net asset value per share** |  |  |  |  |
| The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. | The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. |  |  |  |
| **Series I** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$201233782 | &nbsp;&nbsp;&nbsp;&nbsp;$11817167 | &nbsp;&nbsp;&nbsp;&nbsp;$140047465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$827818931 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13531658 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;903290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12334403 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38969940 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$14.87 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13.08 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$21.24 |
| **Series II** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$4248453483 | &nbsp;&nbsp;&nbsp;&nbsp;$208575843 | &nbsp;&nbsp;&nbsp;&nbsp;$62091338 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$50914338 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285582808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15918258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7018990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2420826 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$14.88 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13.10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8.85 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$21.03 |
| **Series NAV** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$684013476 | &nbsp;&nbsp;&nbsp;&nbsp;$49136014 | &nbsp;&nbsp;&nbsp;&nbsp;$447853473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$298491945 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46015813 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3756731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37526311 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14048873 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$14.86 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13.08 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.93 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$21.25 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 176 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Statements of assets and liabilities — June 30, 2025 (unaudited)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Assets** | &nbsp;&nbsp;&nbsp;&nbsp;**Mid Value Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Real Estate Securities Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Science & Technology Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Small Cap Core Trust** |
| Unaffiliated investments, at value (including securities loaned) | &nbsp;&nbsp;&nbsp;&nbsp;$577483891 | &nbsp;&nbsp;&nbsp;&nbsp;$280095448 | &nbsp;&nbsp;&nbsp;&nbsp;$1090342807 | &nbsp;&nbsp;&nbsp;&nbsp;$288773302 |
| Affiliated investments, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11020418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12990748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments, at value** | &nbsp;&nbsp;&nbsp;&nbsp;**588504309** | &nbsp;&nbsp;&nbsp;&nbsp;**280095448** | &nbsp;&nbsp;&nbsp;&nbsp;**1103333555** | &nbsp;&nbsp;&nbsp;&nbsp;**288773302** |
| Cash | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;497 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Foreign currency, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Dividends and interest receivable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1074570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;987871 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257322 |
| Receivable for fund shares sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;474656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;381978 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;549679 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57724 |
| Receivable for investments sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;828702 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2208199 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for securities lending income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;734836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Other assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23394 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13205 |
| **Total assets** | &nbsp;&nbsp;&nbsp;&nbsp;**590329066** | &nbsp;&nbsp;&nbsp;&nbsp;**282303954** | &nbsp;&nbsp;&nbsp;&nbsp;**1107033035** | &nbsp;&nbsp;&nbsp;&nbsp;**289101553** |
| **Liabilities** |  |  |  |  |
| Payable for investments purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;646600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2982546 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2665962 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for fund shares repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;277856 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1414560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74104 |
| Payable upon return of securities loaned | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11019370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12990849 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable to affiliates |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8933 |
| &nbsp;&nbsp;&nbsp;Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;469 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;484 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;612 |
| Other liabilities and accrued expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43529 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70675 |
| **Total liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12030118** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3038002** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**17251019** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**154324** |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$578298948** | &nbsp;&nbsp;&nbsp;&nbsp;**$279265952** | &nbsp;&nbsp;&nbsp;&nbsp;**$1089782016** | &nbsp;&nbsp;&nbsp;&nbsp;**$288947229** |
| **Net assets consist of** |  |  |  |  |
| Paid-in capital | &nbsp;&nbsp;&nbsp;&nbsp;$405479736 | &nbsp;&nbsp;&nbsp;&nbsp;$243503769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$628218222 | &nbsp;&nbsp;&nbsp;&nbsp;$255592356 |
| Total distributable earnings (loss) | &nbsp;&nbsp;&nbsp;&nbsp;172819212 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35762183 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;461563794 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33354873 |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$578298948** | &nbsp;&nbsp;&nbsp;&nbsp;**$279265952** | &nbsp;&nbsp;&nbsp;&nbsp;**$1089782016** | &nbsp;&nbsp;&nbsp;&nbsp;**$288947229** |
| Unaffiliated investments, including repurchase agreements, at cost | &nbsp;&nbsp;&nbsp;&nbsp;$526560185 | &nbsp;&nbsp;&nbsp;&nbsp;$261885105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$912384070 | &nbsp;&nbsp;&nbsp;&nbsp;$259904491 |
| Affiliated investments, at cost | &nbsp;&nbsp;&nbsp;&nbsp;$11020339 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$12990751 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Foreign currency, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$136983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Securities loaned, at value | &nbsp;&nbsp;&nbsp;&nbsp;$10722675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$12725812 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Net asset value per share** |  |  |  |  |
| The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. | The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. |  |  |  |
| **Series I** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$221243029 | &nbsp;&nbsp;&nbsp;&nbsp;$44984972 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$832610851 | &nbsp;&nbsp;&nbsp;&nbsp;$108082402 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20834603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2243952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32068887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8238679 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10.62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$20.05 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$25.96 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13.12 |
| **Series II** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$47927595 | &nbsp;&nbsp;&nbsp;&nbsp;$21218738 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$61378529 | &nbsp;&nbsp;&nbsp;&nbsp;$16017374 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4511475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1060846 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2878650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1236710 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10.62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$20.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$21.32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$12.95 |
| **Series NAV** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$309128324 | &nbsp;&nbsp;&nbsp;&nbsp;$213062242 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$195792636 | &nbsp;&nbsp;&nbsp;&nbsp;$164847453 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29437282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10716483 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7222110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12645093 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$19.88 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$27.11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13.04 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 177 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Statements of assets and liabilities — June 30, 2025 (unaudited)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Assets** | &nbsp;&nbsp;&nbsp;&nbsp;**Small Cap Index Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Small Cap Opportunities Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Small Cap Stock Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Small Company Value Trust** |
| Unaffiliated investments, at value (including securities loaned) | &nbsp;&nbsp;&nbsp;&nbsp;$486100804 | &nbsp;&nbsp;&nbsp;&nbsp;$164277802 | &nbsp;&nbsp;&nbsp;&nbsp;$271829556 | &nbsp;&nbsp;&nbsp;&nbsp;$120564176 |
| Affiliated investments, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24571428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1846141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4330700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2222693 |
| Repurchase agreements, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments, at value** | &nbsp;&nbsp;&nbsp;&nbsp;**510672232** | &nbsp;&nbsp;&nbsp;&nbsp;**166123943** | &nbsp;&nbsp;&nbsp;&nbsp;**279660256** | &nbsp;&nbsp;&nbsp;&nbsp;**122786869** |
| Receivable for futures variation margin | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Cash | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Foreign currency, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Collateral held at broker for futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1843100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Dividends and interest receivable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;507205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140213 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126285 |
| Receivable for fund shares sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5219 |
| Receivable for investments sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36396 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2905039 |
| Receivable for securities lending income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32198 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1797 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2405 |
| Other assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15841 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8856 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4304 |
| **Total assets** | &nbsp;&nbsp;&nbsp;&nbsp;**513645495** | &nbsp;&nbsp;&nbsp;&nbsp;**166316886** | &nbsp;&nbsp;&nbsp;&nbsp;**279831269** | &nbsp;&nbsp;&nbsp;&nbsp;**125830121** |
| **Liabilities** |  |  |  |  |
| Payable for investments purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;353761 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1143968 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2687054 |
| Payable for fund shares repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;823974 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;347284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40556 |
| Payable upon return of securities loaned | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7724677 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1846330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4327350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2222825 |
| Payable to affiliates |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19821 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4887 |
| &nbsp;&nbsp;&nbsp;Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;407 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205 |
| Other liabilities and accrued expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56098 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44558 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27740 |
| **Total liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8624977** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2592879** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5671494** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4983267** |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$505020518** | &nbsp;&nbsp;&nbsp;&nbsp;**$163724007** | &nbsp;&nbsp;&nbsp;&nbsp;**$274159775** | &nbsp;&nbsp;&nbsp;&nbsp;**$120846854** |
| **Net assets consist of** |  |  |  |  |
| Paid-in capital | &nbsp;&nbsp;&nbsp;&nbsp;$368309300 | &nbsp;&nbsp;&nbsp;&nbsp;$124717576 | &nbsp;&nbsp;&nbsp;&nbsp;$279135575 | &nbsp;&nbsp;&nbsp;&nbsp;$87751808 |
| Total distributable earnings (loss) | &nbsp;&nbsp;&nbsp;&nbsp;136711218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39006431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4975800) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33095046 |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$505020518** | &nbsp;&nbsp;&nbsp;&nbsp;**$163724007** | &nbsp;&nbsp;&nbsp;&nbsp;**$274159775** | &nbsp;&nbsp;&nbsp;&nbsp;**$120846854** |
| Unaffiliated investments, including repurchase agreements, at cost | &nbsp;&nbsp;&nbsp;&nbsp;$403752838 | &nbsp;&nbsp;&nbsp;&nbsp;$153382255 | &nbsp;&nbsp;&nbsp;&nbsp;$235445260 | &nbsp;&nbsp;&nbsp;&nbsp;$102646694 |
| Affiliated investments, at cost | &nbsp;&nbsp;&nbsp;&nbsp;$24571728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1846149 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4330658 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2222682 |
| Foreign currency, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Securities loaned, at value | &nbsp;&nbsp;&nbsp;&nbsp;$30186426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1796379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4229659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2168519 |
| **Net asset value per share** |  |  |  |  |
| The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. | The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. |  |  |  |
| **Series I** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$337205907 | &nbsp;&nbsp;&nbsp;&nbsp;$77346981 | &nbsp;&nbsp;&nbsp;&nbsp;$67064948 | &nbsp;&nbsp;&nbsp;&nbsp;$36901410 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24384861 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2857163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10447350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3912418 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13.83 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$27.07 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6.42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9.43 |
| **Series II** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$23078934 | &nbsp;&nbsp;&nbsp;&nbsp;$25089987 | &nbsp;&nbsp;&nbsp;&nbsp;$16570744 | &nbsp;&nbsp;&nbsp;&nbsp;$26573891 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1686608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;960601 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3051108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3023982 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13.68 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$26.12 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5.43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8.79 |
| **Series NAV** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$144735677 | &nbsp;&nbsp;&nbsp;&nbsp;$61287039 | &nbsp;&nbsp;&nbsp;&nbsp;$190524083 | &nbsp;&nbsp;&nbsp;&nbsp;$57371553 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10443659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2288223 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28605936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6130262 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13.86 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$26.78 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6.66 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9.36 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 178 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Statements of assets and liabilities — June 30, 2025 (unaudited)

------

---

| | | | |
|:---|:---|:---|:---|
| **Assets** | &nbsp;&nbsp;&nbsp;&nbsp;**Strategic Equity Allocation Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Total Stock Market Index Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**U.S. Growth Trust** |
| Unaffiliated investments, at value (including securities loaned) | &nbsp;&nbsp;&nbsp;&nbsp;$6745731369 | &nbsp;&nbsp;&nbsp;&nbsp;$1039499831 | &nbsp;&nbsp;&nbsp;&nbsp;$706439944 |
| Affiliated investments, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246645645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31771317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments, at value** | &nbsp;&nbsp;&nbsp;&nbsp;**6992377014** | &nbsp;&nbsp;&nbsp;&nbsp;**1071271148** | &nbsp;&nbsp;&nbsp;&nbsp;**706439944** |
| Receivable for futures variation margin | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;838349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Cash | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Foreign currency, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3216733 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2650 |
| Collateral held at broker for futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30300700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3197800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Dividends and interest receivable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17426102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;640767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;329194 |
| Receivable for fund shares sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;984299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1480838 |
| Receivable for securities lending income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42344 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Other assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14620 |
| **Total assets** | &nbsp;&nbsp;&nbsp;&nbsp;**7044409002** | &nbsp;&nbsp;&nbsp;&nbsp;**1076297885** | &nbsp;&nbsp;&nbsp;&nbsp;**708267246** |
| **Liabilities** |  |  |  |
| Due to custodian | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193958 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for investments purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27386 |
| Payable for fund shares repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5010442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136898 |
| Payable upon return of securities loaned | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46903743 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3999226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable to affiliates |  |  |  |
| &nbsp;&nbsp;&nbsp;Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43441 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27580 |
| &nbsp;&nbsp;&nbsp;Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263 |
| Other liabilities and accrued expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;607881 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81889 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61836 |
| **Total liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**53002799** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4258355** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**253963** |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$6991406203** | &nbsp;&nbsp;&nbsp;&nbsp;**$1072039530** | &nbsp;&nbsp;&nbsp;&nbsp;**$708013283** |
| **Net assets consist of** |  |  |  |
| Paid-in capital | &nbsp;&nbsp;&nbsp;&nbsp;$2127645881 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$374893065 | &nbsp;&nbsp;&nbsp;&nbsp;$314452188 |
| Total distributable earnings (loss) | &nbsp;&nbsp;&nbsp;&nbsp;4863760322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;697146465 | &nbsp;&nbsp;&nbsp;&nbsp;393561095 |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$6991406203** | &nbsp;&nbsp;&nbsp;&nbsp;**$1072039530** | &nbsp;&nbsp;&nbsp;&nbsp;**$708013283** |
| Unaffiliated investments, including repurchase agreements, at cost | &nbsp;&nbsp;&nbsp;&nbsp;$3047651638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$410240911 | &nbsp;&nbsp;&nbsp;&nbsp;$487672897 |
| Affiliated investments, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$246648336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$31771695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Foreign currency, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3191986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2634 |
| Securities loaned, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$44826555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3870253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Net asset value per share** |  |  |  |
| The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. | The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. |  |  |
| **Series I** |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$564227938 | &nbsp;&nbsp;&nbsp;&nbsp;$234288203 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18620794 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35205443 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$30.30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6.65 |
| **Series II** |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$47957710 | &nbsp;&nbsp;&nbsp;&nbsp;$65979892 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1595777 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13247329 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$30.05 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4.98 |
| **Series NAV** |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$6991406203 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$459853882 | &nbsp;&nbsp;&nbsp;&nbsp;$407745188 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;359536002 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15172427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60263666 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$19.45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$30.31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6.77 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 179 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Statements of operations — For the six months ended June 30, 2025 (unaudited)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment income** | &nbsp;&nbsp;&nbsp;**500 Index Trust** | &nbsp;&nbsp;&nbsp;**American Asset Allocation Trust** | &nbsp;&nbsp;&nbsp;**American Global Growth Trust** | &nbsp;&nbsp;&nbsp;**American Growth Trust** |
| Dividends from unaffiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;$68824813 | &nbsp;&nbsp;&nbsp;&nbsp;$5322708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$684795 | &nbsp;&nbsp;&nbsp;&nbsp;$2062800 |
| Dividends from affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6404637 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Interest | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;417216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Securities lending | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3644 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Less foreign taxes withheld | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16117) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investment income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**75634193** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5322708** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**684795** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2062800** |
| **Expenses** |  |  |  |  |
| Investment management fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24182936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Distribution and service fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1909666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3815518 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;611184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3248838 |
| Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;927319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87885 |
| Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14541 |
| Custodian fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;583015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5959 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5972 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5973 |
| Printing and postage | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22164 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19669 |
| Professional fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26906 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13153 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23891 |
| Other | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;438476 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12032 |
| **Total expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**28462570** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4003716** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**664448** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3412829** |
| Less expense reductions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13394756) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(252749) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(51455) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(291598) |
| **Net expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15067814** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3750967** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**612993** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3121231** |
| **Net investment income (loss)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**60566379** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1571741** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**71802** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1058431)** |
| **Realized and unrealized gain (loss)** |  |  |  |  |
| **Net realized gain (loss) on** |  |  |  |  |
| Unaffiliated investments and foreign currency transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42960632 | &nbsp;&nbsp;&nbsp;&nbsp;11254736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4504725 | &nbsp;&nbsp;&nbsp;&nbsp;31667062 |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Capital gain distributions received from unaffiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;83027294 | &nbsp;&nbsp;&nbsp;&nbsp;24500104 | &nbsp;&nbsp;&nbsp;&nbsp;82989948 |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4894105) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**38135939** | &nbsp;&nbsp;&nbsp;&nbsp;**94282030** | &nbsp;&nbsp;&nbsp;&nbsp;**29004829** | &nbsp;&nbsp;&nbsp;**114657010** |
| **Change in net unrealized appreciation (depreciation) of** |  |  |  |  |
| Unaffiliated investments and translation of assets and liabilities in foreign currencies | &nbsp;&nbsp;&nbsp;&nbsp;527262125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6929389) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8495346) | &nbsp;&nbsp;&nbsp;&nbsp;(14165927) |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(98087) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19836693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**547000731** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(6929389)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(8495346)** | &nbsp;&nbsp;&nbsp;&nbsp;**(14165927)** |
| **Net realized and unrealized gain (loss)** | &nbsp;&nbsp;&nbsp;&nbsp;**585136670** | &nbsp;&nbsp;&nbsp;&nbsp;**87352641** | &nbsp;&nbsp;&nbsp;&nbsp;**20509483** | &nbsp;&nbsp;&nbsp;**100491083** |
| **Increase in net assets from operations** | &nbsp;&nbsp;&nbsp;**$645703049** | &nbsp;&nbsp;&nbsp;**$88924382** | &nbsp;&nbsp;&nbsp;**$20581285** | &nbsp;&nbsp;&nbsp;**$99432652** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 180 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Statements of operations — For the six months ended June 30, 2025 (unaudited)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment income** | &nbsp;&nbsp;&nbsp;**American Growth-Income Trust** | &nbsp;&nbsp;&nbsp;**American International Trust** | &nbsp;&nbsp;&nbsp;**Blue Chip Growth Trust** | &nbsp;&nbsp;&nbsp;**Capital Appreciation Value Trust** |
| Dividends from unaffiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2316628 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5202834 | &nbsp;&nbsp;&nbsp;&nbsp;$2030624 |
| Dividends from affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$236692 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Interest | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4300690 |
| Securities lending | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1706 |
| Less foreign taxes withheld | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(26984) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(29894) |
| **Total investment income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2316628** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**236692** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5411410** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6303126** |
| **Expenses** |  |  |  |  |
| Investment management fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7203975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1948741 |
| Distribution and service fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2793325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1150922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286045 |
| Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81841 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31407 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41385 |
| Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13592 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6655 |
| Custodian fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5968 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117007 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35651 |
| Printing and postage | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12489 |
| Professional fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42873 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35882 |
| Other | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6058 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13090 |
| **Total expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2950145** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1226058** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7855160** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2379938** |
| Less expense reductions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(179184) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(64014) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(371455) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(112817) |
| **Net expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2770961** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1162044** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7483705** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2267121** |
| **Net investment income (loss)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(454333)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(925352)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(2072295)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4036005** |
| **Realized and unrealized gain (loss)** |  |  |  |  |
| **Net realized gain (loss) on** |  |  |  |  |
| Unaffiliated investments and foreign currency transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22302208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;117534483 | &nbsp;&nbsp;&nbsp;&nbsp;20335737 |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4042098) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 |
| Capital gain distributions received from unaffiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;160299317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Written options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;845442 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**182601525** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(4042098)** | &nbsp;&nbsp;&nbsp;&nbsp;**117534483** | &nbsp;&nbsp;&nbsp;&nbsp;**21181209** |
| **Change in net unrealized appreciation (depreciation) of** |  |  |  |  |
| Unaffiliated investments and translation of assets and liabilities in foreign currencies | &nbsp;&nbsp;&nbsp;(110673985) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38768403 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2987894 |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;44981742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 |
| Written options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(538330) |
|  | &nbsp;&nbsp;&nbsp;**(110673985)** | &nbsp;&nbsp;&nbsp;&nbsp;**44981742** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**38768403** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2449568** |
| **Net realized and unrealized gain (loss)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**71927540** | &nbsp;&nbsp;&nbsp;&nbsp;**40939644** | &nbsp;&nbsp;&nbsp;&nbsp;**156302886** | &nbsp;&nbsp;&nbsp;&nbsp;**23630777** |
| **Increase in net assets from operations** | &nbsp;&nbsp;&nbsp;&nbsp;**$71473207** | &nbsp;&nbsp;&nbsp;**$40014292** | &nbsp;&nbsp;&nbsp;**$154230591** | &nbsp;&nbsp;&nbsp;**$27666782** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 181 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Statements of operations — For the six months ended June 30, 2025 (unaudited)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment income** | &nbsp;&nbsp;&nbsp;**Disciplined Value Emerging Markets Equity Trust** | &nbsp;&nbsp;&nbsp;**Disciplined Value International Trust** | &nbsp;&nbsp;&nbsp;**Equity Income Trust** | &nbsp;&nbsp;&nbsp;**Financial Industries Trust** |
| Dividends from unaffiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;$4987379 | &nbsp;&nbsp;&nbsp;&nbsp;$6008097 | &nbsp;&nbsp;&nbsp;&nbsp;$13242890 | &nbsp;&nbsp;&nbsp;$1516680 |
| Interest | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12699 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Dividends from affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56986 |
| Securities lending | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56497 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16084 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Less foreign taxes withheld | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(413186) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(642587) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(332200) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(42098) |
| **Total investment income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4656394** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5418430** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12928235** | &nbsp;&nbsp;&nbsp;&nbsp;**1531568** |
| **Expenses** |  |  |  |  |
| Investment management fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;863867 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;935853 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3357956 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;539678 |
| Distribution and service fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28356 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72612 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42156 |
| Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25164 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11831 |
| Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3087 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2057 |
| Custodian fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97753 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13465 |
| Printing and postage | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13064 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42759 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24471 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8512 |
| Professional fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36974 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19184 |
| Other | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8826 |
| **Total expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1086065** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1190948** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3792391** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**645709** |
| Less expense reductions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9474) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11573) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(164283) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6306) |
| **Net expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1076591** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1179375** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3628108** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**639403** |
| **Net investment income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3579803** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4239055** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9300127** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**892165** |
| **Realized and unrealized gain (loss)** |  |  |  |  |
| **Net realized gain (loss) on** |  |  |  |  |
| Unaffiliated investments and foreign currency transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;740146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8472636 | &nbsp;&nbsp;&nbsp;&nbsp;207207068 | &nbsp;&nbsp;&nbsp;&nbsp;9405856 |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(636) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1065) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(204) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(78) |
| Swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;468086 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1207596** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8471571** | &nbsp;&nbsp;&nbsp;&nbsp;**207206864** | &nbsp;&nbsp;&nbsp;&nbsp;**9405778** |
| **Change in net unrealized appreciation (depreciation) of** |  |  |  |  |
| Unaffiliated investments and translation of assets and liabilities in foreign currencies | &nbsp;&nbsp;&nbsp;&nbsp;23221243 | &nbsp;&nbsp;&nbsp;&nbsp;52484666 | &nbsp;&nbsp;&nbsp;(139286215) | &nbsp;&nbsp;&nbsp;&nbsp;(2493833) |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69 |
| Swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**23567546** | &nbsp;&nbsp;&nbsp;&nbsp;**52484670** | &nbsp;&nbsp;&nbsp;**(139286063)** | &nbsp;&nbsp;&nbsp;&nbsp;**(2493764)** |
| **Net realized and unrealized gain (loss)** | &nbsp;&nbsp;&nbsp;&nbsp;**24775142** | &nbsp;&nbsp;&nbsp;&nbsp;**60956241** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**67920801** | &nbsp;&nbsp;&nbsp;&nbsp;**6912014** |
| **Increase in net assets from operations** | &nbsp;&nbsp;&nbsp;**$28354945** | &nbsp;&nbsp;&nbsp;**$65195296** | &nbsp;&nbsp;&nbsp;&nbsp;**$77220928** | &nbsp;&nbsp;&nbsp;**$7804179** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 182 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Statements of operations — For the six months ended June 30, 2025 (unaudited)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment income** | &nbsp;&nbsp;&nbsp;**Fundamental All Cap Core Trust** | &nbsp;&nbsp;&nbsp;**Fundamental Large Cap Value Trust** | &nbsp;&nbsp;&nbsp;**Global Equity Trust** | &nbsp;&nbsp;&nbsp;**Health Sciences Trust** |
| Dividends from unaffiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;$13039974 | &nbsp;&nbsp;&nbsp;&nbsp;$7819889 | &nbsp;&nbsp;&nbsp;&nbsp;$3611596 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$893615 |
| Dividends from affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;456099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;344763 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Interest | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3462 |
| Non-cash dividends | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4331505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;916166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Less foreign taxes withheld | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(167681) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(229820) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(259968) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25592) |
| **Total investment income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**17659897** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8850998** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3351628** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**871485** |
| **Expenses** |  |  |  |  |
| Investment management fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8152722 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2685691 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1153546 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;937012 |
| Distribution and service fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61207 |
| Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68669 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25458 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19480 |
| Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36916 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11551 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3402 |
| Custodian fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153537 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44008 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19891 |
| Printing and postage | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34472 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10002 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73195 |
| Professional fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36827 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36004 |
| Other | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36677 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11657 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8644 |
| **Total expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8756922** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3179898** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1360772** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1158835** |
| Less expense reductions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(106039) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(48204) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12007) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(53993) |
| **Net expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8650883** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3131694** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1348765** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1104842** |
| **Net investment income (loss)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9009014** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5719304** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2002863** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(233357)** |
| **Realized and unrealized gain (loss)** |  |  |  |  |
| **Net realized gain (loss) on** |  |  |  |  |
| Unaffiliated investments and foreign currency transactions | &nbsp;&nbsp;&nbsp;&nbsp;138544537 | &nbsp;&nbsp;&nbsp;&nbsp;33698658 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8954543 | &nbsp;&nbsp;&nbsp;&nbsp;(1650159) |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3539) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1717) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**138540998** | &nbsp;&nbsp;&nbsp;&nbsp;**33696941** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8954543** | &nbsp;&nbsp;&nbsp;&nbsp;**(1650159)** |
| **Change in net unrealized appreciation (depreciation) of** |  |  |  |  |
| Unaffiliated investments and translation of assets and liabilities in foreign currencies | &nbsp;&nbsp;&nbsp;(167346458) | &nbsp;&nbsp;&nbsp;&nbsp;12102295 | &nbsp;&nbsp;&nbsp;&nbsp;14930728 | &nbsp;&nbsp;&nbsp;&nbsp;(4936412) |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(558) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;&nbsp;**(167346033)** | &nbsp;&nbsp;&nbsp;&nbsp;**12101737** | &nbsp;&nbsp;&nbsp;&nbsp;**14930728** | &nbsp;&nbsp;&nbsp;&nbsp;**(4936412)** |
| **Net realized and unrealized gain (loss)** | &nbsp;&nbsp;&nbsp;&nbsp;**(28805035)** | &nbsp;&nbsp;&nbsp;&nbsp;**45798678** | &nbsp;&nbsp;&nbsp;&nbsp;**23885271** | &nbsp;&nbsp;&nbsp;&nbsp;**(6586571)** |
| **Increase (decrease) in net assets from operations** | &nbsp;&nbsp;&nbsp;**$(19796021)** | &nbsp;&nbsp;&nbsp;**$51517982** | &nbsp;&nbsp;&nbsp;**$25888134** | &nbsp;&nbsp;&nbsp;**$(6819928)** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 183 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Statements of operations — For the six months ended June 30, 2025 (unaudited)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment income** | &nbsp;&nbsp;&nbsp;**International Equity Index Trust** | &nbsp;&nbsp;&nbsp;**International Small Company Trust** | &nbsp;&nbsp;&nbsp;**Lifestyle Balanced Portfolio** | &nbsp;&nbsp;&nbsp;**Lifestyle Conservative Portfolio** |
| Dividends from unaffiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;$19246700 | &nbsp;&nbsp;&nbsp;&nbsp;$2300015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Interest | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Dividends from affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$21 |
| Securities lending | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Less foreign taxes withheld | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2046674) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(242378) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investment income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**17305714** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2092215** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**21** |
| **Expenses** |  |  |  |  |
| Investment management fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2523190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390069 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$198305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31775 |
| Distribution and service fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;899429 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168715 |
| Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8783 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83619 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13413 |
| Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2242 |
| Custodian fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212347 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10366 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10355 |
| Printing and postage | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16802 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8601 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21633 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9510 |
| Professional fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55142 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31237 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20512 |
| Other | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161453 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5101 |
| **Total expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3175569** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**510074** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1271303** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**261623** |
| Less expense reductions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1372648) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4057) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23765) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(33775) |
| **Net expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1802921** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**506017** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1247538** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**227848** |
| **Net investment income (loss)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15502793** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1586198** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1247538)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(227827)** |
| **Realized and unrealized gain (loss)** |  |  |  |  |
| **Net realized gain (loss) on** |  |  |  |  |
| Unaffiliated investments and foreign currency transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2916986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7528 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(121) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6046142) | &nbsp;&nbsp;&nbsp;&nbsp;(1961774) |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6285027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6718480** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2989629** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(6046142)** | &nbsp;&nbsp;&nbsp;&nbsp;**(1961774)** |
| **Change in net unrealized appreciation (depreciation) of** |  |  |  |  |
| Unaffiliated investments and translation of assets and liabilities in foreign currencies | &nbsp;&nbsp;&nbsp;&nbsp;149969422 | &nbsp;&nbsp;&nbsp;&nbsp;15759629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67893 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(204) | &nbsp;&nbsp;&nbsp;&nbsp;70619843 | &nbsp;&nbsp;&nbsp;&nbsp;9811487 |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1001648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**151038963** | &nbsp;&nbsp;&nbsp;&nbsp;**15805097** | &nbsp;&nbsp;&nbsp;&nbsp;**70619843** | &nbsp;&nbsp;&nbsp;&nbsp;**9811487** |
| **Net realized and unrealized gain (loss)** | &nbsp;&nbsp;&nbsp;&nbsp;**157757443** | &nbsp;&nbsp;&nbsp;&nbsp;**18794726** | &nbsp;&nbsp;&nbsp;&nbsp;**64573701** | &nbsp;&nbsp;&nbsp;&nbsp;**7849713** |
| **Increase in net assets from operations** | &nbsp;&nbsp;&nbsp;**$173260236** | &nbsp;&nbsp;&nbsp;**$20380924** | &nbsp;&nbsp;&nbsp;**$63326163** | &nbsp;&nbsp;&nbsp;**$7621886** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 184 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Statements of operations — For the six months ended June 30, 2025 (unaudited)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment income** | &nbsp;&nbsp;&nbsp;**Lifestyle Growth Portfolio** | &nbsp;&nbsp;&nbsp;**Lifestyle Moderate Portfolio** | &nbsp;&nbsp;&nbsp;**Mid Cap Growth Trust** | &nbsp;&nbsp;&nbsp;**Mid Cap Index Trust** |
| Dividends from unaffiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$1126565 | &nbsp;&nbsp;&nbsp;&nbsp;$9232621 |
| Dividends from affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$12 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;518127 |
| Interest | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51153 |
| Securities lending | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6014 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5562 |
| Less foreign taxes withheld | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6475) |
| **Total investment income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1333043** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9800988** |
| **Expenses** |  |  |  |  |
| Investment management fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1033505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54959 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2605762 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2740864 |
| Distribution and service fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5193491 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;258464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269322 |
| Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;439411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23351 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101890 |
| Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69612 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3774 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17090 |
| Custodian fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40904 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73741 |
| Printing and postage | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22173 |
| Professional fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33958 |
| Other | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6214 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13793 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22940 |
| **Total expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6975045** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**390379** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2882723** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3281978** |
| Less expense reductions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(123855) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(29852) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(26038) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(636197) |
| **Net expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6851190** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**360527** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2856685** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2645781** |
| **Net investment income (loss)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(6851190)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(360515)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1523642)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7155207** |
| **Realized and unrealized gain (loss)** |  |  |  |  |
| **Net realized gain (loss) on** |  |  |  |  |
| Unaffiliated investments and foreign currency transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;72366150 | &nbsp;&nbsp;&nbsp;&nbsp;33419824 |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2699098 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1785985) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;583 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1528) |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(3508975) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2699098** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1785985)** | &nbsp;&nbsp;&nbsp;&nbsp;**72366733** | &nbsp;&nbsp;&nbsp;&nbsp;**29909321** |
| **Change in net unrealized appreciation (depreciation) of** |  |  |  |  |
| Unaffiliated investments and translation of assets and liabilities in foreign currencies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(38719460) | &nbsp;&nbsp;&nbsp;(41343678) |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;386909147 | &nbsp;&nbsp;&nbsp;&nbsp;18213970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2805) |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2440656 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**386909147** | &nbsp;&nbsp;&nbsp;&nbsp;**18213970** | &nbsp;&nbsp;&nbsp;&nbsp;**(38719460)** | &nbsp;&nbsp;&nbsp;**(38905827)** |
| **Net realized and unrealized gain (loss)** | &nbsp;&nbsp;&nbsp;&nbsp;**389608245** | &nbsp;&nbsp;&nbsp;&nbsp;**16427985** | &nbsp;&nbsp;&nbsp;&nbsp;**33647273** | &nbsp;&nbsp;&nbsp;&nbsp;**(8996506)** |
| **Increase (decrease) in net assets from operations** | &nbsp;&nbsp;&nbsp;**$382757055** | &nbsp;&nbsp;&nbsp;**$16067470** | &nbsp;&nbsp;&nbsp;**$32123631** | &nbsp;&nbsp;&nbsp;**$(1841299)** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 185 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Statements of operations — For the six months ended June 30, 2025 (unaudited)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment income** | &nbsp;&nbsp;&nbsp;**Mid Value Trust** | &nbsp;&nbsp;&nbsp;**Real Estate Securities Trust** | &nbsp;&nbsp;&nbsp;**Science & Technology Trust** | &nbsp;&nbsp;&nbsp;**Small Cap Core Trust** |
| Dividends from unaffiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7427500 | &nbsp;&nbsp;&nbsp;&nbsp;$5010400 | &nbsp;&nbsp;&nbsp;&nbsp;$3253239 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3235289 |
| Interest | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;321 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43260 |
| Securities lending | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;830856 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4849 |
| Less foreign taxes withheld | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(86332) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27369) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investment income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7609783** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5010400** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4057047** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3283398** |
| **Expenses** |  |  |  |  |
| Investment management fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2540990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;996218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4790586 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1667954 |
| Distribution and service fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48048 |
| Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87246 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28194 |
| Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8727 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4147 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6017 |
| Custodian fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40017 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28901 |
| Printing and postage | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13977 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10357 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15290 |
| Professional fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26823 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59969 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46396 |
| Other | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13681 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8892 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11842 |
| **Total expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2813630** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1126386** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5348901** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1852642** |
| Less expense reductions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(151894) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11846) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(306045) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15341) |
| **Net expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2661736** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1114540** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5042856** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1837301** |
| **Net investment income (loss)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4948047** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3895860** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(985809)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1446097** |
| **Realized and unrealized gain (loss)** |  |  |  |  |
| **Net realized gain (loss) on** |  |  |  |  |
| Unaffiliated investments and foreign currency transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8178088 | &nbsp;&nbsp;&nbsp;&nbsp;10482135 | &nbsp;&nbsp;&nbsp;&nbsp;65232646 | &nbsp;&nbsp;&nbsp;&nbsp;(28440049) |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(460) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(802) |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4329218 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8177628** | &nbsp;&nbsp;&nbsp;&nbsp;**10482145** | &nbsp;&nbsp;&nbsp;&nbsp;**65232837** | &nbsp;&nbsp;&nbsp;&nbsp;**(24111633)** |
| **Change in net unrealized appreciation (depreciation) of** |  |  |  |  |
| Unaffiliated investments and translation of assets and liabilities in foreign currencies | &nbsp;&nbsp;&nbsp;&nbsp;(27217542) | &nbsp;&nbsp;&nbsp;(20342950) | &nbsp;&nbsp;&nbsp;&nbsp;(23085498) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6690059) |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(157) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(36) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**(27217699)** | &nbsp;&nbsp;&nbsp;**(20342950)** | &nbsp;&nbsp;&nbsp;&nbsp;**(23085460)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(6690095)** |
| **Net realized and unrealized gain (loss)** | &nbsp;&nbsp;&nbsp;&nbsp;**(19040071)** | &nbsp;&nbsp;&nbsp;&nbsp;**(9860805)** | &nbsp;&nbsp;&nbsp;&nbsp;**42147377** | &nbsp;&nbsp;&nbsp;&nbsp;**(30801728)** |
| **Increase (decrease) in net assets from operations** | &nbsp;&nbsp;&nbsp;**$(14092024)** | &nbsp;&nbsp;&nbsp;**$(5964945)** | &nbsp;&nbsp;&nbsp;**$41161568** | &nbsp;&nbsp;&nbsp;**$(29355631)** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 186 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Statements of operations — For the six months ended June 30, 2025 (unaudited)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment income** | &nbsp;&nbsp;&nbsp;**Small Cap Index Trust** | &nbsp;&nbsp;&nbsp;**Small Cap Opportunities Trust** | &nbsp;&nbsp;&nbsp;**Small Cap Stock Trust** | &nbsp;&nbsp;&nbsp;**Small Company Value Trust** |
| Dividends from unaffiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3594816 | &nbsp;&nbsp;&nbsp;&nbsp;$1435770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$691416 | &nbsp;&nbsp;&nbsp;&nbsp;$1088489 |
| Dividends from affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;274320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Interest | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33777 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254 |
| Securities lending | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4642 |
| Less foreign taxes withheld | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6678) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1602) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2806) |
| **Total investment income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4048697** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1470784** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**777235** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1090579** |
| **Expenses** |  |  |  |  |
| Investment management fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1199569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;757304 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1374299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;626102 |
| Distribution and service fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112356 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42878 |
| Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10406 |
| Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7292 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2367 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1863 |
| Custodian fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21007 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12251 |
| Printing and postage | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63643 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8322 |
| Professional fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24453 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20492 |
| Other | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13777 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6764 |
| **Total expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1449912** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**941310** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1507758** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**729078** |
| Less expense reductions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(147235) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(171739) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11351) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(42430) |
| **Net expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1302677** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**769571** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1496407** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**686648** |
| **Net investment income (loss)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2746020** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**701213** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(719172)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**403931** |
| **Realized and unrealized gain (loss)** |  |  |  |  |
| **Net realized gain (loss) on** |  |  |  |  |
| Unaffiliated investments and foreign currency transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16906977 | &nbsp;&nbsp;&nbsp;&nbsp;12172846 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4211406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2784610 |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(846) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(188) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1044) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(137) |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1991873) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14914258** | &nbsp;&nbsp;&nbsp;&nbsp;**12172658** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4210362** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2784473** |
| **Change in net unrealized appreciation (depreciation) of** |  |  |  |  |
| Unaffiliated investments and translation of assets and liabilities in foreign currencies | &nbsp;&nbsp;&nbsp;&nbsp;(29845056) | &nbsp;&nbsp;&nbsp;(17432226) | &nbsp;&nbsp;&nbsp;&nbsp;(7947948) | &nbsp;&nbsp;&nbsp;&nbsp;(6255699) |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1732) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29 |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1087513 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**(28759275)** | &nbsp;&nbsp;&nbsp;**(17432238)** | &nbsp;&nbsp;&nbsp;&nbsp;**(7947850)** | &nbsp;&nbsp;&nbsp;&nbsp;**(6255670)** |
| **Net realized and unrealized gain (loss)** | &nbsp;&nbsp;&nbsp;&nbsp;**(13845017)** | &nbsp;&nbsp;&nbsp;&nbsp;**(5259580)** | &nbsp;&nbsp;&nbsp;&nbsp;**(3737488)** | &nbsp;&nbsp;&nbsp;&nbsp;**(3471197)** |
| **Decrease in net assets from operations** | &nbsp;&nbsp;&nbsp;**$(11098997)** | &nbsp;&nbsp;&nbsp;**$(4558367)** | &nbsp;&nbsp;&nbsp;**$(4456660)** | &nbsp;&nbsp;&nbsp;**$(3067266)** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 187 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Statements of operations — For the six months ended June 30, 2025 (unaudited)

------

---

| | | | |
|:---|:---|:---|:---|
| **Investment income** | &nbsp;&nbsp;&nbsp;**Strategic Equity Allocation Trust** | &nbsp;&nbsp;&nbsp;**Total Stock Market Index Trust** | &nbsp;&nbsp;&nbsp;**U.S. Growth Trust** |
| Dividends from unaffiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;$78752008 | &nbsp;&nbsp;&nbsp;&nbsp;$6442849 | &nbsp;&nbsp;&nbsp;&nbsp;$2232659 |
| Dividends from affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4187998 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;549932 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Interest | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;512338 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4425 |
| Securities lending | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;284985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74914 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Less foreign taxes withheld | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4945607) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(532) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22358) |
| **Total investment income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**78791722** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7110486** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2214726** |
| **Expenses** |  |  |  |
| Investment management fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21407886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2346294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2222972 |
| Distribution and service fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191974 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131171 |
| Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;598332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57601 |
| Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95874 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9996 |
| Custodian fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;538385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61667 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42224 |
| Printing and postage | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75246 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18512 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74751 |
| Professional fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139002 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29926 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26579 |
| Other | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13378 |
| **Total expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**22961187** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2770666** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2578672** |
| Less expense reductions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4808322) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(394567) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27190) |
| **Net expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**18152865** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2376099** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2551482** |
| **Net investment income (loss)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**60638857** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4734387** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(336756)** |
| **Realized and unrealized gain (loss)** |  |  |  |
| **Net realized gain (loss) on** |  |  |  |
| Unaffiliated investments and foreign currency transactions | &nbsp;&nbsp;&nbsp;&nbsp;340382522 | &nbsp;&nbsp;&nbsp;&nbsp;32195758 | &nbsp;&nbsp;&nbsp;102365860 |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15376) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3775) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2152366) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(627022) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**338214780** | &nbsp;&nbsp;&nbsp;&nbsp;**31564961** | &nbsp;&nbsp;&nbsp;**102365860** |
| **Change in net unrealized appreciation (depreciation) of** |  |  |  |
| Unaffiliated investments and translation of assets and liabilities in foreign currencies | &nbsp;&nbsp;&nbsp;&nbsp;213520397 | &nbsp;&nbsp;&nbsp;&nbsp;22117262 | &nbsp;&nbsp;&nbsp;&nbsp;(46294327) |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22476) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4026) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14214402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1650942 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**227712323** | &nbsp;&nbsp;&nbsp;&nbsp;**23764178** | &nbsp;&nbsp;&nbsp;&nbsp;**(46294327)** |
| **Net realized and unrealized gain (loss)** | &nbsp;&nbsp;&nbsp;&nbsp;**565927103** | &nbsp;&nbsp;&nbsp;&nbsp;**55329139** | &nbsp;&nbsp;&nbsp;&nbsp;**56071533** |
| **Increase in net assets from operations** | &nbsp;&nbsp;&nbsp;**$626565960** | &nbsp;&nbsp;&nbsp;**$60063526** | &nbsp;&nbsp;&nbsp;**$55734777** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 188 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Statements of changes in net assets

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**500 Index Trust** | &nbsp;&nbsp;&nbsp;**500 Index Trust** | &nbsp;&nbsp;&nbsp;**American Asset Allocation Trust** | &nbsp;&nbsp;&nbsp;**American Asset Allocation Trust** | &nbsp;&nbsp;&nbsp;**American Global Growth Trust** | &nbsp;&nbsp;&nbsp;**American Global Growth Trust** |
|  | &nbsp;&nbsp;&nbsp;**Six months ended <br> 6-30-25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** | &nbsp;&nbsp;&nbsp;**Six months ended <br> 6-30-25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** | &nbsp;&nbsp;&nbsp;**Six months ended <br> 6-30-25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** |
| **Increase (decrease) in net assets** |  |  |  |  |  |  |
| **From operations** |  |  |  |  |  |  |
| Net investment income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$60566379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$119416090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1571741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$20079229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$71802 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2239546 |
| Net realized gain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38135939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205855152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94282030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91876650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29004829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16580238 |
| Change in net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;547000731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1792729369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6929389) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63717931 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8495346) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6298741 |
| **Increase in net assets resulting from operations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**645703049** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2118000611** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**88924382** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**175673810** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**20581285** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**25118525** |
| **Distributions to shareholders** |  |  |  |  |  |  |
| From earnings |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(156436116) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(28415938) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6635654) |
| &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1833633) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(52721639) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12895863) |
| &nbsp;&nbsp;&nbsp;Series III | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8159908) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3080831) |
| &nbsp;&nbsp;&nbsp;Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(71609133) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total distributions** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(229878882)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(89297485)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(22612348)** |
| **From portfolio share transactions** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Portfolio share transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(53482420) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188291624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(68776704) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(51506270) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15745801) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2515641) |
| **Total increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**592220629** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2076413353** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**20147678** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**34870055** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4835484** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(9464)** |
| **Net assets** |  |  |  |  |  |  |
| Beginning of period | &nbsp;&nbsp;&nbsp;&nbsp;10708610614 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8632197261 | &nbsp;&nbsp;&nbsp;&nbsp;1189184726 | &nbsp;&nbsp;&nbsp;&nbsp;1154314671 | &nbsp;&nbsp;&nbsp;&nbsp;195647983 | &nbsp;&nbsp;&nbsp;&nbsp;195657447 |
| **End of period** | &nbsp;&nbsp;&nbsp;**$11300831243** | &nbsp;&nbsp;&nbsp;**$10708610614** | &nbsp;&nbsp;&nbsp;**$1209332404** | &nbsp;&nbsp;&nbsp;**$1189184726** | &nbsp;&nbsp;&nbsp;**$200483467** | &nbsp;&nbsp;&nbsp;**$195647983** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**American Growth Trust** | &nbsp;&nbsp;&nbsp;**American Growth Trust** | &nbsp;&nbsp;&nbsp;**American Growth-Income Trust** | &nbsp;&nbsp;&nbsp;**American Growth-Income Trust** | &nbsp;&nbsp;&nbsp;**American International Trust** | &nbsp;&nbsp;&nbsp;**American International Trust** |
|  | &nbsp;&nbsp;&nbsp;**Six months ended <br> 6-30-25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** | &nbsp;&nbsp;&nbsp;**Six months ended <br> 6-30-25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** | &nbsp;&nbsp;&nbsp;**Six months ended <br> 6-30-25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** |
| **Increase (decrease) in net assets** |  |  |  |  |  |  |
| **From operations** |  |  |  |  |  |  |
| Net investment income (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(1058431) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(560338) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(454333) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6786199 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(925352) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2622110 |
| Net realized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114657010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85647786 | &nbsp;&nbsp;&nbsp;&nbsp;182601525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98283683 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4042098) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4660673) |
| Change in net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14165927) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177449949 | &nbsp;&nbsp;&nbsp;&nbsp;(110673985) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96651636 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44981742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12839899 |
| **Increase in net assets resulting from operations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**99432652** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**262537397** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**71473207** | &nbsp;&nbsp;&nbsp;&nbsp;**201721518** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**40014292** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10801336** |
| **Distributions to shareholders** |  |  |  |  |  |  |
| From earnings |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27039941) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(26662119) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1114114) |
| &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(48542734) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30911701) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1544898) |
| &nbsp;&nbsp;&nbsp;Series III | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7666292) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13917294) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(318581) |
| **Total distributions** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(83248967)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(71491114)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(2977593)** |
| **From portfolio share transactions** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Portfolio share transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(57026515) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(59380915) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(57034349) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(68379768) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19182683) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21283824) |
| **Total increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**42406137** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**119907515** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14438858** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**61850636** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**20831609** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(13460081)** |
| **Net assets** |  |  |  |  |  |  |
| Beginning of period | &nbsp;&nbsp;&nbsp;&nbsp;1021728308 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;901820793 | &nbsp;&nbsp;&nbsp;&nbsp;962509784 | &nbsp;&nbsp;&nbsp;&nbsp;900659148 | &nbsp;&nbsp;&nbsp;&nbsp;349009594 | &nbsp;&nbsp;&nbsp;&nbsp;362469675 |
| **End of period** | &nbsp;&nbsp;&nbsp;**$1064134445** | &nbsp;&nbsp;&nbsp;**$1021728308** | &nbsp;&nbsp;&nbsp;**$976948642** | &nbsp;&nbsp;&nbsp;**$962509784** | &nbsp;&nbsp;&nbsp;**$369841203** | &nbsp;&nbsp;&nbsp;**$349009594** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 189 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Statements of changes in net assets

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Blue Chip Growth Trust** | &nbsp;&nbsp;&nbsp;**Blue Chip Growth Trust** | &nbsp;&nbsp;&nbsp;**Capital Appreciation Value Trust** | &nbsp;&nbsp;&nbsp;**Capital Appreciation Value Trust** | &nbsp;&nbsp;&nbsp;**Disciplined Value Emerging Markets Equity Trust** | &nbsp;&nbsp;&nbsp;**Disciplined Value Emerging Markets Equity Trust** |
|  | &nbsp;&nbsp;&nbsp;**Six months ended <br> 6-30-25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** | &nbsp;&nbsp;&nbsp;**Six months ended <br> 6-30-25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** | &nbsp;&nbsp;&nbsp;**Six months ended <br> 6-30-25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** |
| **Increase (decrease) in net assets** |  |  |  |  |  |  |
| **From operations** |  |  |  |  |  |  |
| Net investment income (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(2072295) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(4041090) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4036005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9312092 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3579803 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4007677 |
| Net realized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117534483 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;308843712 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21181209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51044110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1207596 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12109269) |
| Change in net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38768403 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;294254006 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2449568 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5754627) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23567546 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2992835 |
| **Increase (decrease) in net assets resulting from operations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**154230591** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**599056628** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**27666782** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**54601575** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**28354945** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(5108757)** |
| **Distributions to shareholders** |  |  |  |  |  |  |
| From earnings |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(28549482) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(131612) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(238617) |
| &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10037709) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3736654) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(862538) |
| &nbsp;&nbsp;&nbsp;Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(129489442) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4011981) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8282745) |
| **Total distributions** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(168076633)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(7880247)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(9383900)** |
| **From portfolio share transactions** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Portfolio share transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(120769366) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(140104089) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20238275) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(37417947) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6626501) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11815718 |
| **Total increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**33461225** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**290875906** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7428507** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9303381** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**21728444** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(2676939)** |
| **Net assets** |  |  |  |  |  |  |
| Beginning of period | &nbsp;&nbsp;&nbsp;&nbsp;2077176426 | &nbsp;&nbsp;&nbsp;&nbsp;1786300520 | &nbsp;&nbsp;&nbsp;&nbsp;476346744 | &nbsp;&nbsp;&nbsp;&nbsp;467043363 | &nbsp;&nbsp;&nbsp;&nbsp;218452810 | &nbsp;&nbsp;&nbsp;&nbsp;221129749 |
| **End of period** | &nbsp;&nbsp;&nbsp;**$2110637651** | &nbsp;&nbsp;&nbsp;**$2077176426** | &nbsp;&nbsp;&nbsp;**$483775251** | &nbsp;&nbsp;&nbsp;**$476346744** | &nbsp;&nbsp;&nbsp;**$240181254** | &nbsp;&nbsp;&nbsp;**$218452810** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Disciplined Value International Trust** | &nbsp;&nbsp;&nbsp;**Disciplined Value International Trust** | &nbsp;&nbsp;&nbsp;**Equity Income Trust** | &nbsp;&nbsp;&nbsp;**Equity Income Trust** | &nbsp;&nbsp;&nbsp;**Financial Industries Trust** | &nbsp;&nbsp;&nbsp;**Financial Industries Trust** |
|  | &nbsp;&nbsp;&nbsp;**Six months ended <br> 6-30-25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** | &nbsp;&nbsp;&nbsp;**Six months ended <br> 6-30-25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** | &nbsp;&nbsp;&nbsp;**Six months ended <br> 6-30-25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** |
| **Increase (decrease) in net assets** |  |  |  |  |  |  |
| **From operations** |  |  |  |  |  |  |
| Net investment income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4239055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5508204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9300127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$25513034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$892165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1561631 |
| Net realized gain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8471571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24584038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207206864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140541990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9405778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13063815 |
| Change in net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52484670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30107490) | &nbsp;&nbsp;&nbsp;&nbsp;(139286063) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10085695) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2493764) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17876501 |
| **Increase (decrease) in net assets resulting from operations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**65195296** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(15248)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**77220928** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**155969329** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7804179** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**32501947** |
| **Distributions to shareholders** |  |  |  |  |  |  |
| From earnings |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6824735) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13247765) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(840158) |
| &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3921669) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6167507) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(129808) |
| &nbsp;&nbsp;&nbsp;Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15676041) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(66656647) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(307177) |
| **Total distributions** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(26422445)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(86071919)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1277143)** |
| **From portfolio share transactions** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Portfolio share transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27620948) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8908878 | &nbsp;&nbsp;&nbsp;&nbsp;(619661896) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(90685602) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10547358) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6879645) |
| **Total increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**37574348** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(17528815)** | &nbsp;&nbsp;&nbsp;&nbsp;**(542440968)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(20788192)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(2743179)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**24345159** |
| **Net assets** |  |  |  |  |  |  |
| Beginning of period | &nbsp;&nbsp;&nbsp;&nbsp;264897043 | &nbsp;&nbsp;&nbsp;&nbsp;282425858 | &nbsp;&nbsp;&nbsp;1367074964 | &nbsp;&nbsp;&nbsp;&nbsp;1387863156 | &nbsp;&nbsp;&nbsp;&nbsp;141841161 | &nbsp;&nbsp;&nbsp;&nbsp;117496002 |
| **End of period** | &nbsp;&nbsp;&nbsp;**$302471391** | &nbsp;&nbsp;&nbsp;**$264897043** | &nbsp;&nbsp;&nbsp;&nbsp;**$824633996** | &nbsp;&nbsp;&nbsp;**$1367074964** | &nbsp;&nbsp;&nbsp;**$139097982** | &nbsp;&nbsp;&nbsp;**$141841161** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 190 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Statements of changes in net assets

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Fundamental All Cap Core Trust** | &nbsp;&nbsp;&nbsp;**Fundamental All Cap Core Trust** | &nbsp;&nbsp;&nbsp;**Fundamental Large Cap Value Trust** | &nbsp;&nbsp;&nbsp;**Fundamental Large Cap Value Trust** | &nbsp;&nbsp;&nbsp;**Global Equity Trust** | &nbsp;&nbsp;&nbsp;**Global Equity Trust** |
|  | &nbsp;&nbsp;&nbsp;**Six months ended <br> 6-30-25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** | &nbsp;&nbsp;&nbsp;**Six months ended <br> 6-30-25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** | &nbsp;&nbsp;&nbsp;**Six months ended <br> 6-30-25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** |
| **Increase (decrease) in net assets** |  |  |  |  |  |  |
| **From operations** |  |  |  |  |  |  |
| Net investment income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9009014 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11047416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5719304 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8499621 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2002863 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3666783 |
| Net realized gain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138540998 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;273484886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33696941 | &nbsp;&nbsp;&nbsp;&nbsp;103051195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8954543 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32936685 |
| Change in net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(167346033) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255011132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12101737 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15654010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14930728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6001982) |
| **Increase (decrease) in net assets resulting from operations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(19796021)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**539543434** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**51517982** | &nbsp;&nbsp;&nbsp;&nbsp;**127204826** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**25888134** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**30601486** |
| **Distributions to shareholders** |  |  |  |  |  |  |
| From earnings |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10032913) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(47936072) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13714332) |
| &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4539165) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15117520) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1271106) |
| &nbsp;&nbsp;&nbsp;Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(215562330) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21177077) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3325027) |
| **Total distributions** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(230134408)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(84230669)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(18310465)** |
| **From portfolio share transactions** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Portfolio share transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(129820955) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39118358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(57142274) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5311383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22564612) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14319649) |
| **Total increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(149616976)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**348527384** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(5624292)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**48285540** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3323522** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(2028628)** |
| **Net assets** |  |  |  |  |  |  |
| Beginning of period | &nbsp;&nbsp;&nbsp;&nbsp;2649678736 | &nbsp;&nbsp;&nbsp;&nbsp;2301151352 | &nbsp;&nbsp;&nbsp;&nbsp;821651657 | &nbsp;&nbsp;&nbsp;&nbsp;773366117 | &nbsp;&nbsp;&nbsp;&nbsp;294147993 | &nbsp;&nbsp;&nbsp;&nbsp;296176621 |
| **End of period** | &nbsp;&nbsp;&nbsp;**$2500061760** | &nbsp;&nbsp;&nbsp;**$2649678736** | &nbsp;&nbsp;&nbsp;**$816027365** | &nbsp;&nbsp;&nbsp;**$821651657** | &nbsp;&nbsp;&nbsp;**$297471515** | &nbsp;&nbsp;&nbsp;**$294147993** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Health Sciences Trust** | &nbsp;&nbsp;&nbsp;**Health Sciences Trust** | &nbsp;&nbsp;&nbsp;**International Equity Index Trust** | &nbsp;&nbsp;&nbsp;**International Equity Index Trust** | &nbsp;&nbsp;&nbsp;**International Small Company Trust** | &nbsp;&nbsp;&nbsp;**International Small Company Trust** |
|  | &nbsp;&nbsp;&nbsp;**Six months ended <br> 6-30-25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** | &nbsp;&nbsp;&nbsp;**Six months ended <br> 6-30-25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** | &nbsp;&nbsp;&nbsp;**Six months ended <br> 6-30-25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** |
| **Increase (decrease) in net assets** |  |  |  |  |  |  |
| **From operations** |  |  |  |  |  |  |
| Net investment income (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(233357) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(865560) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$15502793 | &nbsp;&nbsp;&nbsp;&nbsp;$22771602 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1586198 | &nbsp;&nbsp;&nbsp;&nbsp;$1970659 |
| Net realized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1650159) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31306230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6718480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4627396) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2989629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4468289 |
| Change in net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4936412) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24030832) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151038963 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25353994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15805097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3066787) |
| **Increase (decrease) in net assets resulting from operations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(6819928)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6409838** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**173260236** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**43498200** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**20380924** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3372161** |
| **Distributions to shareholders** |  |  |  |  |  |  |
| From earnings |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3481776) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5104125) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(634624) |
| &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3641274) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(254350) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(403121) |
| &nbsp;&nbsp;&nbsp;Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10226623) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9804159) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2324209) |
| **Total distributions** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(17349673)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(15162634)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(3361954)** |
| **From portfolio share transactions** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Portfolio share transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18398830) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16429711) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1456395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14890340) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10431004) | &nbsp;&nbsp;&nbsp;&nbsp;(11465375) |
| **Total increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(25218758)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(27369546)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**174716631** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13445226** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9949920** | &nbsp;&nbsp;&nbsp;&nbsp;**(11455168)** |
| **Net assets** |  |  |  |  |  |  |
| Beginning of period | &nbsp;&nbsp;&nbsp;&nbsp;235823436 | &nbsp;&nbsp;&nbsp;&nbsp;263192982 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;899300635 | &nbsp;&nbsp;&nbsp;&nbsp;885855409 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95430100 | &nbsp;&nbsp;&nbsp;106885268 |
| **End of period** | &nbsp;&nbsp;&nbsp;**$210604678** | &nbsp;&nbsp;&nbsp;**$235823436** | &nbsp;&nbsp;&nbsp;**$1074017266** | &nbsp;&nbsp;&nbsp;**$899300635** | &nbsp;&nbsp;&nbsp;**$105380020** | &nbsp;&nbsp;&nbsp;**$95430100** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 191 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Statements of changes in net assets

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Lifestyle Balanced Portfolio** | &nbsp;&nbsp;&nbsp;**Lifestyle Balanced Portfolio** | &nbsp;&nbsp;&nbsp;**Lifestyle Conservative Portfolio** | &nbsp;&nbsp;&nbsp;**Lifestyle Conservative Portfolio** | &nbsp;&nbsp;&nbsp;**Lifestyle Growth Portfolio** | &nbsp;&nbsp;&nbsp;**Lifestyle Growth Portfolio** |
|  | &nbsp;&nbsp;&nbsp;**Six months ended <br> 6-30-25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** | &nbsp;&nbsp;&nbsp;**Six months ended <br> 6-30-25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** | &nbsp;&nbsp;&nbsp;**Six months ended <br> 6-30-25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** |
| **Increase (decrease) in net assets** |  |  |  |  |  |  |
| **From operations** |  |  |  |  |  |  |
| Net investment income (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(1247538) | &nbsp;&nbsp;&nbsp;&nbsp;$21612306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(227827) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4606592 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(6851190) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$93170246 |
| Net realized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6046142) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49951267 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1961774) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1261862) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2699098 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390610930 |
| Change in net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70619843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6407566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9811487 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3246220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;386909147 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69875928 |
| **Increase in net assets resulting from operations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**63326163** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**77971139** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7621886** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6590950** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**382757055** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**553657104** |
| **Distributions to shareholders** |  |  |  |  |  |  |
| From earnings |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1811123) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(424087) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11663304) |
| &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(35495359) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4244584) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(241799171) |
| &nbsp;&nbsp;&nbsp;Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9317113) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(250333) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(37898081) |
| **Total distributions** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(46623595)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(4919004)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(291360556)** |
| **From portfolio share transactions** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Portfolio share transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(60377596) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20566406) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10640760) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11364221) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(311339397) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(352367273) |
| **Total increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2948567** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10781138** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(3018874)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(9692275)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**71417658** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(90070725)** |
| **Net assets** |  |  |  |  |  |  |
| Beginning of period | &nbsp;&nbsp;&nbsp;&nbsp;976528669 | &nbsp;&nbsp;&nbsp;&nbsp;965747531 | &nbsp;&nbsp;&nbsp;&nbsp;156076980 | &nbsp;&nbsp;&nbsp;&nbsp;165769255 | &nbsp;&nbsp;&nbsp;&nbsp;5062283083 | &nbsp;&nbsp;&nbsp;&nbsp;5152353808 |
| **End of period** | &nbsp;&nbsp;&nbsp;**$979477236** | &nbsp;&nbsp;&nbsp;**$976528669** | &nbsp;&nbsp;&nbsp;**$153058106** | &nbsp;&nbsp;&nbsp;**$156076980** | &nbsp;&nbsp;&nbsp;**$5133700741** | &nbsp;&nbsp;&nbsp;**$5062283083** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Lifestyle Moderate Portfolio** | &nbsp;&nbsp;&nbsp;**Lifestyle Moderate Portfolio** | &nbsp;&nbsp;&nbsp;**Mid Cap Growth Trust** | &nbsp;&nbsp;&nbsp;**Mid Cap Growth Trust** | &nbsp;&nbsp;&nbsp;**Mid Cap Index Trust** | &nbsp;&nbsp;&nbsp;**Mid Cap Index Trust** |
|  | &nbsp;&nbsp;&nbsp;**Six months ended <br> 6-30-25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** | &nbsp;&nbsp;&nbsp;**Six months ended <br> 6-30-25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** | &nbsp;&nbsp;&nbsp;**Six months ended <br> 6-30-25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** |
| **Increase (decrease) in net assets** |  |  |  |  |  |  |
| **From operations** |  |  |  |  |  |  |
| Net investment income (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(360515) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6800926 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(1523642) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(3765292) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7155207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13710341 |
| Net realized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1785985) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5815231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72366733 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72398170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29909321 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86590458 |
| Change in net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18213970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6484749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(38719460) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72669899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(38905827) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55853640 |
| **Increase (decrease) in net assets resulting from operations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**16067470** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**19100906** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**32123631** | &nbsp;&nbsp;&nbsp;&nbsp;**141302777** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1841299)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**156154439** |
| **Distributions to shareholders** |  |  |  |  |  |  |
| From earnings |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(567581) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(39581057) |
| &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9454027) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2396749) |
| &nbsp;&nbsp;&nbsp;Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2216112) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13592425) |
| **Total distributions** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(12237720)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(55570231)** |
| **From portfolio share transactions** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Portfolio share transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13904496) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(28042147) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(36865525) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(91720124) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(64978616) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(67929595) |
| **Total increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2162974** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(21178961)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(4741894)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**49582653** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(66819915)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**32654613** |
| **Net assets** |  |  |  |  |  |  |
| Beginning of period | &nbsp;&nbsp;&nbsp;&nbsp;267366050 | &nbsp;&nbsp;&nbsp;&nbsp;288545011 | &nbsp;&nbsp;&nbsp;&nbsp;654734170 | &nbsp;&nbsp;&nbsp;&nbsp;605151517 | &nbsp;&nbsp;&nbsp;&nbsp;1244045129 | &nbsp;&nbsp;&nbsp;&nbsp;1211390516 |
| **End of period** | &nbsp;&nbsp;&nbsp;**$269529024** | &nbsp;&nbsp;&nbsp;**$267366050** | &nbsp;&nbsp;&nbsp;**$649992276** | &nbsp;&nbsp;&nbsp;**$654734170** | &nbsp;&nbsp;&nbsp;**$1177225214** | &nbsp;&nbsp;&nbsp;**$1244045129** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 192 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Statements of changes in net assets

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Mid Value Trust** | &nbsp;&nbsp;&nbsp;**Mid Value Trust** | &nbsp;&nbsp;&nbsp;**Real Estate Securities Trust** | &nbsp;&nbsp;&nbsp;**Real Estate Securities Trust** | &nbsp;&nbsp;&nbsp;**Science & Technology Trust** | &nbsp;&nbsp;&nbsp;**Science & Technology Trust** |
|  | &nbsp;&nbsp;&nbsp;**Six months ended <br> 6-30-25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** | &nbsp;&nbsp;&nbsp;**Six months ended <br> 6-30-25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** | &nbsp;&nbsp;&nbsp;**Six months ended <br> 6-30-25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** |
| **Increase (decrease) in net assets** |  |  |  |  |  |  |
| **From operations** |  |  |  |  |  |  |
| Net investment income (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4948047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6949766 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3895860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5672732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(985809) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(4906564) |
| Net realized gain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8177628 | &nbsp;&nbsp;&nbsp;&nbsp;105117562 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10482145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18735358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65232837 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232748206 |
| Change in net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27217699) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15857840) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20342950) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5822183 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23085460) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106996091 |
| **Increase (decrease) in net assets resulting from operations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(14092024)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**96209488** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(5964945)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**30230273** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**41161568** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**334837733** |
| **Distributions to shareholders** |  |  |  |  |  |  |
| From earnings |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13276901) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1044208) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2802300) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(454334) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18577319) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4836202) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total distributions** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(34656520)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(6334744)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** |
| **From portfolio share transactions** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Portfolio share transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(35378147) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(53380487) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14714021) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17056115) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(92922109) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(132215572) |
| **Total increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(49470171)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8172481** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(20678966)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6839414** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(51760541)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**202622161** |
| **Net assets** |  |  |  |  |  |  |
| Beginning of period | &nbsp;&nbsp;&nbsp;&nbsp;627769119 | &nbsp;&nbsp;&nbsp;&nbsp;619596638 | &nbsp;&nbsp;&nbsp;&nbsp;299944918 | &nbsp;&nbsp;&nbsp;&nbsp;293105504 | &nbsp;&nbsp;&nbsp;&nbsp;1141542557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;938920396 |
| **End of period** | &nbsp;&nbsp;&nbsp;**$578298948** | &nbsp;&nbsp;&nbsp;**$627769119** | &nbsp;&nbsp;&nbsp;**$279265952** | &nbsp;&nbsp;&nbsp;**$299944918** | &nbsp;&nbsp;&nbsp;**$1089782016** | &nbsp;&nbsp;&nbsp;**$1141542557** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Small Cap Core Trust** | &nbsp;&nbsp;&nbsp;**Small Cap Core Trust** | &nbsp;&nbsp;&nbsp;**Small Cap Index Trust** | &nbsp;&nbsp;&nbsp;**Small Cap Index Trust** | &nbsp;&nbsp;&nbsp;**Small Cap Opportunities Trust** | &nbsp;&nbsp;&nbsp;**Small Cap Opportunities Trust** |
|  | &nbsp;&nbsp;&nbsp;**Six months ended <br> 6-30-25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** | &nbsp;&nbsp;&nbsp;**Six months ended <br> 6-30-25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** | &nbsp;&nbsp;&nbsp;**Six months ended <br> 6-30-25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** |
| **Increase (decrease) in net assets** |  |  |  |  |  |  |
| **From operations** |  |  |  |  |  |  |
| Net investment income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1446097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3465708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2746020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4926511 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$701213 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1684191 |
| Net realized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24111633) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31510616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14914258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33943565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12172658 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14022654 |
| Change in net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6690095) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7500058) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(28759275) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14648859 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17432238) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2130749) |
| **Increase (decrease) in net assets resulting from operations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(29355631)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**27476266** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(11098997)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**53518935** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(4558367)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13576096** |
| **Distributions to shareholders** |  |  |  |  |  |  |
| From earnings |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7781731) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9978020) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5270646) |
| &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1101472) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(665587) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1758771) |
| &nbsp;&nbsp;&nbsp;Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19274555) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3893643) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3560035) |
| **Total distributions** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(28157758)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(14537250)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(10589452)** |
| **From portfolio share transactions** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Portfolio share transactions | &nbsp;&nbsp;&nbsp;&nbsp;(123371649) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19396140) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25198065) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(37567338) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1592385) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6000413) |
| **Total increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**(152727280)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(20077632)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(36297062)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1414347** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(6150752)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(3013769)** |
| **Net assets** |  |  |  |  |  |  |
| Beginning of period | &nbsp;&nbsp;&nbsp;&nbsp;441674509 | &nbsp;&nbsp;&nbsp;&nbsp;461752141 | &nbsp;&nbsp;&nbsp;&nbsp;541317580 | &nbsp;&nbsp;&nbsp;&nbsp;539903233 | &nbsp;&nbsp;&nbsp;&nbsp;169874759 | &nbsp;&nbsp;&nbsp;&nbsp;172888528 |
| **End of period** | &nbsp;&nbsp;&nbsp;**$288947229** | &nbsp;&nbsp;&nbsp;**$441674509** | &nbsp;&nbsp;&nbsp;**$505020518** | &nbsp;&nbsp;&nbsp;**$541317580** | &nbsp;&nbsp;&nbsp;**$163724007** | &nbsp;&nbsp;&nbsp;**$169874759** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 193 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Statements of changes in net assets

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Small Cap Stock Trust** | &nbsp;&nbsp;&nbsp;**Small Cap Stock Trust** | &nbsp;&nbsp;&nbsp;**Small Company Value Trust** | &nbsp;&nbsp;&nbsp;**Small Company Value Trust** | &nbsp;&nbsp;&nbsp;**Strategic Equity Allocation Trust** | &nbsp;&nbsp;&nbsp;**Strategic Equity Allocation Trust** |
|  | &nbsp;&nbsp;&nbsp;**Six months ended <br> 6-30-25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** | &nbsp;&nbsp;&nbsp;**Six months ended <br> 6-30-25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** | &nbsp;&nbsp;&nbsp;**Six months ended <br> 6-30-25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** |
| **Increase (decrease) in net assets** |  |  |  |  |  |  |
| **From operations** |  |  |  |  |  |  |
| Net investment income (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(719172) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(1351815) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$403931 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$626088 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$60638857 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$105365560 |
| Net realized gain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4210362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19752314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2784473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11899370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;338214780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;797387083 |
| Change in net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7947850) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11480324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6255670) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(44217) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227712323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155535990 |
| **Increase (decrease) in net assets resulting from operations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(4456660)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**29880823** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(3067266)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12481241** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**626565960** | &nbsp;&nbsp;&nbsp;&nbsp;**1058288633** |
| **Distributions to shareholders** |  |  |  |  |  |  |
| From earnings |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1776252) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1324580) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2602283) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(741764159) |
| **Total distributions** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(5703115)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(741764159)** |
| **From portfolio share transactions** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Portfolio share transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12698528) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17706836) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3883113) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8694591) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(617746949) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(553385668) |
| **Total increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(17155188)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12173987** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(6950379)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1916465)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8819011** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(236861194)** |
| **Net assets** |  |  |  |  |  |  |
| Beginning of period | &nbsp;&nbsp;&nbsp;&nbsp;291314963 | &nbsp;&nbsp;&nbsp;&nbsp;279140976 | &nbsp;&nbsp;&nbsp;&nbsp;127797233 | &nbsp;&nbsp;&nbsp;&nbsp;129713698 | &nbsp;&nbsp;&nbsp;&nbsp;6982587192 | &nbsp;&nbsp;&nbsp;&nbsp;7219448386 |
| **End of period** | &nbsp;&nbsp;&nbsp;**$274159775** | &nbsp;&nbsp;&nbsp;**$291314963** | &nbsp;&nbsp;&nbsp;**$120846854** | &nbsp;&nbsp;&nbsp;**$127797233** | &nbsp;&nbsp;&nbsp;**$6991406203** | &nbsp;&nbsp;&nbsp;**$6982587192** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Total Stock Market Index Trust** | &nbsp;&nbsp;&nbsp;**Total Stock Market Index Trust** | &nbsp;&nbsp;&nbsp;**U.S. Growth Trust** | &nbsp;&nbsp;&nbsp;**U.S. Growth Trust** |
|  | &nbsp;&nbsp;&nbsp;**Six months ended <br> 6-30-25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** | &nbsp;&nbsp;&nbsp;**Six months ended <br> 6-30-25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** |
| **Increase (decrease) in net assets** |  |  |  |  |
| **From operations** |  |  |  |  |
| Net investment income (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4734387 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9502019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(336756) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(1979175) |
| Net realized gain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31564961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23694268 | &nbsp;&nbsp;&nbsp;&nbsp;102365860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75193352 |
| Change in net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23764178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162535453 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(46294327) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97091407 |
| **Increase in net assets resulting from operations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**60063526** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**195731740** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**55734777** | &nbsp;&nbsp;&nbsp;&nbsp;**170305584** |
| **Distributions to shareholders** |  |  |  |  |
| From earnings |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24232404) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11800479) |
| &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2042884) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4357515) |
| &nbsp;&nbsp;&nbsp;Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17350467) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18793533) |
| **Total distributions** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(43625755)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(34951527)** |
| **From portfolio share transactions** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Portfolio share transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16328691) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71571803 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(33508958) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(31353539) |
| **Total increase** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**43734835** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**223677788** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**22225819** | &nbsp;&nbsp;&nbsp;&nbsp;**104000518** |
| **Net assets** |  |  |  |  |
| Beginning of period | &nbsp;&nbsp;&nbsp;&nbsp;1028304695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;804626907 | &nbsp;&nbsp;&nbsp;&nbsp;685787464 | &nbsp;&nbsp;&nbsp;&nbsp;581786946 |
| **End of period** | &nbsp;&nbsp;&nbsp;**$1072039530** | &nbsp;&nbsp;&nbsp;**$1028304695** | &nbsp;&nbsp;&nbsp;**$708013283** | &nbsp;&nbsp;&nbsp;**$685787464** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 194 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

------

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** |  | **Ratios and supplemental data** | **Ratios and supplemental data** | **Ratios and supplemental data** |
|  |  | **Income (loss) from investment operations** | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period<br> ($) | Net<br> investment<br> income<br> (loss)<br> ($)<sup>1</sup> | Net<br> realized<br> and<br> unrealized<br> gain<br> (loss)<br> on investments<br> ($) | Total<br> from<br> investment<br> operations<br> ($) | From net<br> investment<br> income<br> ($) | From net<br> realized<br> gain<br> ($) | From tax<br> return<br> of capital<br> ($) | Total<br> distributions<br> ($) | Net asset<br> value, end<br> of period<br> ($) | Total<br> return<br> (%)<sup>2</sup> | Expenses<br> before<br> reductions<br> (%) | Expenses<br> including<br> reductions<br> (%) | Net<br> investment<br> income<br> (loss)<br> (%) | Net<br> assets,<br> end of<br> period (in<br> millions) | Portfolio<br> turnover<br> (%) |
| **500 Index Trust** | **500 Index Trust** | **500 Index Trust** | **500 Index Trust** | **500 Index Trust** | **500 Index Trust** | **500 Index Trust** | **500 Index Trust** | **500 Index Trust** | **500 Index Trust** | **500 Index Trust** | **500 Index Trust** | **500 Index Trust** | **500 Index Trust** | **500 Index Trust** | **500 Index Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 06-30-2025<sup>3</sup> | 60.79 | 0.34 | &nbsp;&nbsp;&nbsp;3.33 | &nbsp;&nbsp;3.67 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 64.46 | &nbsp;&nbsp;&nbsp;6.04<sup>4</sup> | 0.56<sup>5</sup> | 0.30<sup>5</sup> | 1.14<sup>5</sup> | 7761 | 1 |
| 12-31-2024 | 49.87 | 0.68 | &nbsp;&nbsp;11.57 | 12.25 | (0.62) | (0.71) |  | (1.33) | 60.79 | &nbsp;&nbsp;24.60 | 0.57 | 0.30 | 1.20 | 7339 | 3 |
| 12-31-2023 | 40.70 | 0.67 | &nbsp;&nbsp;&nbsp;9.72 | 10.39 | (0.58) | (0.64) |  | (1.22) | 49.87 | &nbsp;&nbsp;25.90 | 0.55 | 0.30 | 1.48 | 5787 | 2 |
| 12-31-2022 | 52.44 | 0.59 | (10.22) | (9.63) | (0.56) | (1.55) |  | (2.11) | 40.70 | (18.37) | 0.55 | 0.30 | 1.31 | 4441 | 2 |
| 12-31-2021 | 43.08 | 0.52 | &nbsp;&nbsp;11.55 | 12.07 | (0.67) | (2.04) |  | (2.71) | 52.44 | &nbsp;&nbsp;28.29 | 0.54 | 0.30 | 1.06 | 5400 | 2 |
| 12-31-2020 | 37.84 | 0.65 | &nbsp;&nbsp;&nbsp;6.05 | &nbsp;&nbsp;6.70 | (0.71) | (0.75) |  | (1.46) | 43.08 | &nbsp;&nbsp;18.11 | 0.55 | 0.30 | 1.73 | 4313 | 4 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 06-30-2025<sup>3</sup> | 60.78 | 0.28 | &nbsp;&nbsp;&nbsp;3.32 | &nbsp;&nbsp;3.60 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 64.38 | &nbsp;&nbsp;&nbsp;5.92<sup>4</sup> | 0.76<sup>5</sup> | 0.50<sup>5</sup> | 0.94<sup>5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;92 | 1 |
| 12-31-2024 | 49.88 | 0.57 | &nbsp;&nbsp;11.56 | 12.13 | (0.52) | (0.71) |  | (1.23) | 60.78 | &nbsp;&nbsp;24.36 | 0.77 | 0.50 | 1.00 | &nbsp;&nbsp;&nbsp;&nbsp;92 | 3 |
| 12-31-2023 | 40.72 | 0.58 | &nbsp;&nbsp;&nbsp;9.72 | 10.30 | (0.50) | (0.64) |  | (1.14) | 49.88 | &nbsp;&nbsp;25.64 | 0.75 | 0.50 | 1.28 | &nbsp;&nbsp;&nbsp;&nbsp;82 | 2 |
| 12-31-2022 | 52.45 | 0.50 | (10.21) | (9.71) | (0.47) | (1.55) |  | (2.02) | 40.72 | (18.51) | 0.75 | 0.50 | 1.11 | &nbsp;&nbsp;&nbsp;&nbsp;70 | 2 |
| 12-31-2021 | 43.09 | 0.42 | &nbsp;&nbsp;11.56 | 11.98 | (0.58) | (2.04) |  | (2.62) | 52.45 | &nbsp;&nbsp;28.04 | 0.74 | 0.50 | 0.86 | &nbsp;&nbsp;&nbsp;&nbsp;96 | 2 |
| 12-31-2020 | 37.87 | 0.58 | &nbsp;&nbsp;&nbsp;6.02 | &nbsp;&nbsp;6.60 | (0.63) | (0.75) |  | (1.38) | 43.09 | &nbsp;&nbsp;17.83 | 0.75 | 0.50 | 1.53 | &nbsp;&nbsp;&nbsp;&nbsp;79 | 4 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 06-30-2025<sup>3</sup> | 60.80 | 0.36 | &nbsp;&nbsp;&nbsp;3.32 | &nbsp;&nbsp;3.68 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 64.48 | &nbsp;&nbsp;&nbsp;6.05<sup>4</sup> | 0.51<sup>5</sup> | 0.25<sup>5</sup> | 1.19<sup>5</sup> | 3448 | 1 |
| 12-31-2024 | 49.87 | 0.71 | &nbsp;&nbsp;11.57 | 12.28 | (0.64) | (0.71) |  | (1.35) | 60.80 | &nbsp;&nbsp;24.67 | 0.52 | 0.25 | 1.25 | 3277 | 3 |
| 12-31-2023 | 40.70 | 0.70 | &nbsp;&nbsp;&nbsp;9.71 | 10.41 | (0.60) | (0.64) |  | (1.24) | 49.87 | &nbsp;&nbsp;25.95 | 0.50 | 0.25 | 1.53 | 2764 | 2 |
| 12-31-2022 | 52.43 | 0.61 | (10.20) | (9.59) | (0.59) | (1.55) |  | (2.14) | 40.70 | (18.31) | 0.50 | 0.25 | 1.36 | 2201 | 2 |
| 12-31-2021 | 43.07 | 0.54 | &nbsp;&nbsp;11.55 | 12.09 | (0.69) | (2.04) |  | (2.73) | 52.43 | &nbsp;&nbsp;28.36 | 0.49 | 0.25 | 1.11 | 2944 | 2 |
| 12-31-2020 | 37.84 | 0.67 | &nbsp;&nbsp;&nbsp;6.03 | &nbsp;&nbsp;6.70 | (0.72) | (0.75) |  | (1.47) | 43.07 | &nbsp;&nbsp;18.14 | 0.50 | 0.25 | 1.78 | 2433 | 4 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** |
| **American Asset Allocation Trust** | **American Asset Allocation Trust** | **American Asset Allocation Trust** | **American Asset Allocation Trust** | **American Asset Allocation Trust** | **American Asset Allocation Trust** | **American Asset Allocation Trust** | **American Asset Allocation Trust** | **American Asset Allocation Trust** | **American Asset Allocation Trust** | **American Asset Allocation Trust** | **American Asset Allocation Trust** | **American Asset Allocation Trust** | **American Asset Allocation Trust** | **American Asset Allocation Trust** | **American Asset Allocation Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 06-30-2025<sup>3</sup> | &nbsp;&nbsp;9.86 | 0.01<sup>4</sup> | &nbsp;&nbsp;&nbsp;0.76 | &nbsp;&nbsp;0.77 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 10.63 | &nbsp;&nbsp;&nbsp;7.81<sup>5</sup> | 0.63<sup>67</sup> | 0.62<sup>67</sup> | 0.30<sup>46</sup> | &nbsp;&nbsp;&nbsp;401 | 6 |
| 12-31-2024 | &nbsp;&nbsp;9.17 | 0.18<sup>4</sup> | &nbsp;&nbsp;&nbsp;1.29 | &nbsp;&nbsp;1.47 | (0.17) | (0.61) |  | (0.78) | &nbsp;&nbsp;9.86 | &nbsp;&nbsp;16.02 | 0.63<sup>7</sup> | 0.62<sup>7</sup> | 1.78<sup>4</sup> | &nbsp;&nbsp;&nbsp;382 | 7 |
| 12-31-2023 | &nbsp;&nbsp;9.59 | 0.18<sup>4</sup> | &nbsp;&nbsp;&nbsp;1.00 | &nbsp;&nbsp;1.18 | (0.17) | (1.43) |  | (1.60) | &nbsp;&nbsp;9.17 | &nbsp;&nbsp;13.90 | 0.63<sup>7</sup> | 0.63<sup>7</sup> | 1.83<sup>4</sup> | &nbsp;&nbsp;&nbsp;343 | 6 |
| 12-31-2022 | 13.11 | 0.17<sup>4</sup> | &nbsp;&nbsp;(2.02) | (1.85) | (0.16) | (1.51) |  | (1.67) | &nbsp;&nbsp;9.59 | (13.76) | 0.63<sup>7</sup> | 0.62<sup>7</sup> | 1.54<sup>4</sup> | &nbsp;&nbsp;&nbsp;320 | 9 |
| 12-31-2021 | 12.26 | 0.15<sup>4</sup> | &nbsp;&nbsp;&nbsp;1.65 | &nbsp;&nbsp;1.80 | (0.15) | (0.80) |  | (0.95) | 13.11 | &nbsp;&nbsp;14.71 | 0.63<sup>7</sup> | 0.62<sup>7</sup> | 1.16<sup>4</sup> | &nbsp;&nbsp;&nbsp;374 | 5 |
| 12-31-2020 | 12.58 | 0.16<sup>4</sup> | &nbsp;&nbsp;&nbsp;1.22 | &nbsp;&nbsp;1.38 | (0.16) | (1.54) |  | (1.70) | 12.26 | &nbsp;&nbsp;12.02 | 0.63<sup>7</sup> | 0.62<sup>7</sup> | 1.30<sup>4</sup> | &nbsp;&nbsp;&nbsp;334 | 3 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 06-30-2025<sup>3</sup> | &nbsp;&nbsp;9.86 | 0.01<sup>4</sup> | &nbsp;&nbsp;&nbsp;0.76 | &nbsp;&nbsp;0.77 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 10.63 | &nbsp;&nbsp;&nbsp;7.81<sup>5</sup> | 0.78<sup>67</sup> | 0.71<sup>67</sup> | 0.20<sup>46</sup> | &nbsp;&nbsp;&nbsp;703 | 6 |
| 12-31-2024 | &nbsp;&nbsp;9.17 | 0.16<sup>4</sup> | &nbsp;&nbsp;&nbsp;1.30 | &nbsp;&nbsp;1.46 | (0.16) | (0.61) |  | (0.77) | &nbsp;&nbsp;9.86 | &nbsp;&nbsp;15.92 | 0.78<sup>7</sup> | 0.71<sup>7</sup> | 1.59<sup>4</sup> | &nbsp;&nbsp;&nbsp;704 | 7 |
| 12-31-2023 | &nbsp;&nbsp;9.60 | 0.16<sup>4</sup> | &nbsp;&nbsp;&nbsp;1.00 | &nbsp;&nbsp;1.16 | (0.16) | (1.43) |  | (1.59) | &nbsp;&nbsp;9.17 | &nbsp;&nbsp;13.68 | 0.78<sup>7</sup> | 0.72<sup>7</sup> | 1.67<sup>4</sup> | &nbsp;&nbsp;&nbsp;707 | 6 |
| 12-31-2022 | 13.11 | 0.16<sup>4</sup> | &nbsp;&nbsp;(2.01) | (1.85) | (0.15) | (1.51) |  | (1.66) | &nbsp;&nbsp;9.60 | (13.77) | 0.78<sup>7</sup> | 0.71<sup>7</sup> | 1.37<sup>4</sup> | &nbsp;&nbsp;&nbsp;710 | 9 |
| 12-31-2021 | 12.26 | 0.13<sup>4</sup> | &nbsp;&nbsp;&nbsp;1.65 | &nbsp;&nbsp;1.78 | (0.13) | (0.80) |  | (0.93) | 13.11 | &nbsp;&nbsp;14.61 | 0.78<sup>7</sup> | 0.71<sup>7</sup> | 0.98<sup>4</sup> | &nbsp;&nbsp;&nbsp;921 | 5 |
| 12-31-2020 | 12.58 | 0.14<sup>4</sup> | &nbsp;&nbsp;&nbsp;1.23 | &nbsp;&nbsp;1.37 | (0.15) | (1.54) |  | (1.69) | 12.26 | &nbsp;&nbsp;11.92 | 0.78<sup>7</sup> | 0.71<sup>7</sup> | 1.15<sup>4</sup> | &nbsp;&nbsp;&nbsp;953 | 3 |
| **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** |
| 06-30-2025<sup>3</sup> | &nbsp;&nbsp;9.88 | 0.03<sup>4</sup> | &nbsp;&nbsp;&nbsp;0.76 | &nbsp;&nbsp;0.79 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 10.67 | &nbsp;&nbsp;&nbsp;8.00<sup>5</sup> | 0.28<sup>67</sup> | 0.27<sup>67</sup> | 0.65<sup>46</sup> | &nbsp;&nbsp;&nbsp;105 | 6 |
| 12-31-2024 | &nbsp;&nbsp;9.18 | 0.20<sup>4</sup> | &nbsp;&nbsp;&nbsp;1.31 | &nbsp;&nbsp;1.51 | (0.20) | (0.61) |  | (0.81) | &nbsp;&nbsp;9.88 | &nbsp;&nbsp;16.50 | 0.28<sup>7</sup> | 0.27<sup>7</sup> | 2.04<sup>4</sup> | &nbsp;&nbsp;&nbsp;104 | 7 |
| 12-31-2023 | &nbsp;&nbsp;9.60 | 0.21<sup>4</sup> | &nbsp;&nbsp;&nbsp;1.00 | &nbsp;&nbsp;1.21 | (0.20) | (1.43) |  | (1.63) | &nbsp;&nbsp;9.18 | &nbsp;&nbsp;14.23 | 0.28<sup>7</sup> | 0.28<sup>7</sup> | 2.14<sup>4</sup> | &nbsp;&nbsp;&nbsp;104 | 6 |
| 12-31-2022 | 13.12 | 0.21<sup>4</sup> | &nbsp;&nbsp;(2.02) | (1.81) | (0.20) | (1.51) |  | (1.71) | &nbsp;&nbsp;9.60 | (13.44) | 0.28<sup>7</sup> | 0.27<sup>7</sup> | 1.82<sup>4</sup> | &nbsp;&nbsp;&nbsp;101 | 9 |
| 12-31-2021 | 12.27 | 0.19<sup>4</sup> | &nbsp;&nbsp;&nbsp;1.65 | &nbsp;&nbsp;1.84 | (0.19) | (0.80) |  | (0.99) | 13.12 | &nbsp;&nbsp;15.07 | 0.28<sup>7</sup> | 0.27<sup>7</sup> | 1.45<sup>4</sup> | &nbsp;&nbsp;&nbsp;128 | 5 |
| 12-31-2020 | 12.58 | 0.20<sup>4</sup> | &nbsp;&nbsp;&nbsp;1.23 | &nbsp;&nbsp;1.43 | (0.20) | (1.54) |  | (1.74) | 12.27 | &nbsp;&nbsp;12.45 | 0.28<sup>7</sup> | 0.27<sup>7</sup> | 1.61<sup>4</sup> | &nbsp;&nbsp;&nbsp;125 | 3 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** |

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|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 195 |

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[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

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| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period |  | Ratios and supplemental data | Ratios and supplemental data | Ratios and supplemental data |
|  |  | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period<br> ($) Net<br> investment<br> income<br> (loss)<br> ($)<sup>1</sup> | Net<br> realized<br> and<br> unrealized<br> gain<br> (loss)<br> on investments<br> ($) | Total<br> from<br> investment<br> operations<br> ($) | From net<br> investment<br> income<br> ($) | From net<br> realized<br> gain<br> ($) | From tax<br> return<br> of capital<br> ($) | Total<br> distributions<br> ($) | Net asset<br> value, end<br> of period<br> ($) | Total<br> return<br> (%)<sup>2</sup> | Expenses<br> before<br> reductions<br> (%) | Expenses<br> including<br> reductions<br> (%) | Net<br> investment<br> income<br> (loss)<br> (%) | Net<br> assets,<br> end of<br> period (in<br> millions) | Portfolio<br> turnover<br> (%) |
| **American Global Growth Trust** | **American Global Growth Trust** | **American Global Growth Trust** | **American Global Growth Trust** | **American Global Growth Trust** | **American Global Growth Trust** | **American Global Growth Trust** | **American Global Growth Trust** | **American Global Growth Trust** | **American Global Growth Trust** | **American Global Growth Trust** | **American Global Growth Trust** | **American Global Growth Trust** | **American Global Growth Trust** | **American Global Growth Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 06-30-2025<sup>3</sup> | 14.38 &nbsp;&nbsp;&nbsp;&nbsp;—<sup>4,5</sup> | &nbsp;&nbsp;1.58 | &nbsp;&nbsp;1.58 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 15.96 | &nbsp;&nbsp;10.99<sup>6</sup> | 0.66<sup>78</sup> | 0.65<sup>78</sup> | &nbsp;&nbsp;0.05<sup>57</sup> | &nbsp;&nbsp;60 | 10 |
| 12-31-2024 | 14.27 &nbsp;&nbsp;0.18<sup>5</sup> | &nbsp;&nbsp;1.74 | &nbsp;&nbsp;1.92 | (0.16) | (1.65) |  | (1.81) | 14.38 | &nbsp;&nbsp;13.20 | 0.66<sup>8</sup> | 0.65<sup>8</sup> | &nbsp;&nbsp;1.16<sup>5</sup> | &nbsp;&nbsp;58 | &nbsp;&nbsp;6 |
| 12-31-2023 | 13.73 &nbsp;&nbsp;0.08<sup>5</sup> | &nbsp;&nbsp;2.66 | &nbsp;&nbsp;2.74 | (0.07) | (2.13) |  | (2.20) | 14.27 | &nbsp;&nbsp;22.12 | 0.66<sup>8</sup> | 0.65<sup>8</sup> | &nbsp;&nbsp;0.52<sup>5</sup> | &nbsp;&nbsp;52 | 12 |
| 12-31-2022 | 21.63 &nbsp;&nbsp;0.05<sup>5</sup> | (5.61) | (5.56) | (0.04) | (2.30) |  | (2.34) | 13.73 | (25.05) | 0.66<sup>8</sup> | 0.65<sup>8</sup> | &nbsp;&nbsp;0.33<sup>5</sup> | &nbsp;&nbsp;41 | 13 |
| 12-31-2021 | 19.75 (0.01)<sup>5</sup> | &nbsp;&nbsp;3.16 | &nbsp;&nbsp;3.15 | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.27) |  | (1.27) | 21.63 | &nbsp;&nbsp;16.00 | 0.64<sup>8</sup> | 0.63<sup>8</sup> | (0.04)<sup>5</sup> | &nbsp;&nbsp;48 | &nbsp;&nbsp;8 |
| 12-31-2020 | 16.49 &nbsp;&nbsp;&nbsp;&nbsp;—<sup>4,5</sup> | &nbsp;&nbsp;4.76 | &nbsp;&nbsp;4.76 | (0.01) | (1.49) |  | (1.50) | 19.75 | &nbsp;&nbsp;29.96 | 0.65<sup>8</sup> | 0.64<sup>8</sup> | (0.02)<sup>5</sup> | &nbsp;&nbsp;39 | &nbsp;&nbsp;6 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 06-30-2025<sup>3</sup> | 14.27 &nbsp;&nbsp;&nbsp;&nbsp;—<sup>4,5</sup> | &nbsp;&nbsp;1.56 | &nbsp;&nbsp;1.56 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 15.83 | &nbsp;&nbsp;10.93<sup>6</sup> | 0.81<sup>78</sup> | 0.72<sup>78</sup> | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>5,7,9</sup> | 114 | 10 |
| 12-31-2024 | 14.17 &nbsp;&nbsp;0.15<sup>5</sup> | &nbsp;&nbsp;1.74 | &nbsp;&nbsp;1.89 | (0.14) | (1.65) |  | (1.79) | 14.27 | &nbsp;&nbsp;13.15 | 0.81<sup>8</sup> | 0.72<sup>8</sup> | &nbsp;&nbsp;1.00<sup>5</sup> | 111 | &nbsp;&nbsp;6 |
| 12-31-2023 | 13.65 &nbsp;&nbsp;0.06<sup>5</sup> | &nbsp;&nbsp;2.65 | &nbsp;&nbsp;2.71 | (0.06) | (2.13) |  | (2.19) | 14.17 | &nbsp;&nbsp;22.02 | 0.81<sup>8</sup> | 0.72<sup>8</sup> | &nbsp;&nbsp;0.38<sup>5</sup> | 117 | 12 |
| 12-31-2022 | 21.51 &nbsp;&nbsp;0.03<sup>5</sup> | (5.57) | (5.54) | (0.02) | (2.30) |  | (2.32) | 13.65 | (25.08) | 0.81<sup>8</sup> | 0.72<sup>8</sup> | &nbsp;&nbsp;0.18<sup>5</sup> | 112 | 13 |
| 12-31-2021 | 19.66 (0.03)<sup>5</sup> | &nbsp;&nbsp;3.15 | &nbsp;&nbsp;3.12 | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.27) |  | (1.27) | 21.51 | &nbsp;&nbsp;15.92 | 0.79<sup>8</sup> | 0.70<sup>8</sup> | (0.14)<sup>5</sup> | 169 | &nbsp;&nbsp;8 |
| 12-31-2020 | 16.44 (0.02)<sup>5</sup> | &nbsp;&nbsp;4.74 | &nbsp;&nbsp;4.72 | (0.01) | (1.49) |  | (1.50) | 19.66 | &nbsp;&nbsp;29.80 | 0.80<sup>8</sup> | 0.71<sup>8</sup> | (0.13)<sup>5</sup> | 172 | &nbsp;&nbsp;6 |
| **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** |
| 06-30-2025<sup>3</sup> | 14.47 &nbsp;&nbsp;0.03<sup>5</sup> | &nbsp;&nbsp;1.58 | &nbsp;&nbsp;1.61 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 16.08 | &nbsp;&nbsp;11.20<sup>6</sup> | 0.31<sup>78</sup> | 0.30<sup>78</sup> | &nbsp;&nbsp;0.42<sup>57</sup> | &nbsp;&nbsp;27 | 10 |
| 12-31-2024 | 14.35 &nbsp;&nbsp;0.23<sup>5</sup> | &nbsp;&nbsp;1.75 | &nbsp;&nbsp;1.98 | (0.21) | (1.65) |  | (1.86) | 14.47 | &nbsp;&nbsp;13.58 | 0.31<sup>8</sup> | 0.30<sup>8</sup> | &nbsp;&nbsp;1.44<sup>5</sup> | &nbsp;&nbsp;27 | &nbsp;&nbsp;6 |
| 12-31-2023 | 13.79 &nbsp;&nbsp;0.12<sup>5</sup> | &nbsp;&nbsp;2.69 | &nbsp;&nbsp;2.81 | (0.12) | (2.13) |  | (2.25) | 14.35 | &nbsp;&nbsp;22.55 | 0.31<sup>8</sup> | 0.30<sup>8</sup> | &nbsp;&nbsp;0.82<sup>5</sup> | &nbsp;&nbsp;27 | 12 |
| 12-31-2022 | 21.71 &nbsp;&nbsp;0.11<sup>5</sup> | (5.64) | (5.53) | (0.09) | (2.30) |  | (2.39) | 13.79 | (24.77) | 0.31<sup>8</sup> | 0.30<sup>8</sup> | &nbsp;&nbsp;0.64<sup>5</sup> | &nbsp;&nbsp;25 | 13 |
| 12-31-2021 | 19.75 &nbsp;&nbsp;0.06<sup>5</sup> | &nbsp;&nbsp;3.17 | &nbsp;&nbsp;3.23 | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.27) |  | (1.27) | 21.71 | &nbsp;&nbsp;16.41 | 0.29<sup>8</sup> | 0.28<sup>8</sup> | &nbsp;&nbsp;0.29<sup>5</sup> | &nbsp;&nbsp;33 | &nbsp;&nbsp;8 |
| 12-31-2020 | 16.43 &nbsp;&nbsp;0.05<sup>5</sup> | &nbsp;&nbsp;4.77 | &nbsp;&nbsp;4.82 | (0.01) | (1.49) |  | (1.50) | 19.75 | &nbsp;&nbsp;30.44 | 0.30<sup>8</sup> | 0.29<sup>8</sup> | &nbsp;&nbsp;0.30<sup>5</sup> | &nbsp;&nbsp;32 | &nbsp;&nbsp;6 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Less than $0.005 per share. 5 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 6 Not annualized. 7 Annualized. 8 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 9 Less than 0.005%.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Less than $0.005 per share. 5 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 6 Not annualized. 7 Annualized. 8 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 9 Less than 0.005%.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Less than $0.005 per share. 5 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 6 Not annualized. 7 Annualized. 8 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 9 Less than 0.005%.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Less than $0.005 per share. 5 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 6 Not annualized. 7 Annualized. 8 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 9 Less than 0.005%.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Less than $0.005 per share. 5 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 6 Not annualized. 7 Annualized. 8 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 9 Less than 0.005%.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Less than $0.005 per share. 5 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 6 Not annualized. 7 Annualized. 8 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 9 Less than 0.005%.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Less than $0.005 per share. 5 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 6 Not annualized. 7 Annualized. 8 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 9 Less than 0.005%.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Less than $0.005 per share. 5 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 6 Not annualized. 7 Annualized. 8 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 9 Less than 0.005%.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Less than $0.005 per share. 5 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 6 Not annualized. 7 Annualized. 8 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 9 Less than 0.005%.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Less than $0.005 per share. 5 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 6 Not annualized. 7 Annualized. 8 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 9 Less than 0.005%.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Less than $0.005 per share. 5 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 6 Not annualized. 7 Annualized. 8 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 9 Less than 0.005%.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Less than $0.005 per share. 5 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 6 Not annualized. 7 Annualized. 8 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 9 Less than 0.005%.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Less than $0.005 per share. 5 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 6 Not annualized. 7 Annualized. 8 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 9 Less than 0.005%.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Less than $0.005 per share. 5 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 6 Not annualized. 7 Annualized. 8 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 9 Less than 0.005%.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Less than $0.005 per share. 5 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 6 Not annualized. 7 Annualized. 8 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 9 Less than 0.005%.** |
| **American Growth Trust** | **American Growth Trust** | **American Growth Trust** | **American Growth Trust** | **American Growth Trust** | **American Growth Trust** | **American Growth Trust** | **American Growth Trust** | **American Growth Trust** | **American Growth Trust** | **American Growth Trust** | **American Growth Trust** | **American Growth Trust** | **American Growth Trust** | **American Growth Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 06-30-2025<sup>3</sup> | 18.54 (0.02)<sup>4</sup> | &nbsp;&nbsp;1.86 | &nbsp;&nbsp;1.84 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 20.38 | &nbsp;&nbsp;&nbsp;9.92<sup>5</sup> | 0.63<sup>67</sup> | 0.62<sup>67</sup> | (0.20)<sup>46</sup> | 388 | &nbsp;&nbsp;8 |
| 12-31-2024 | 15.41 (0.01)<sup>4</sup> | &nbsp;&nbsp;4.72 | &nbsp;&nbsp;4.71 | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.58)<sup>8</sup> |  | (1.58) | 18.54 | &nbsp;&nbsp;31.09 | 0.63<sup>7</sup> | 0.62<sup>7</sup> | (0.03)<sup>4</sup> | 354 | &nbsp;&nbsp;5 |
| 12-31-2023 | 13.39 &nbsp;&nbsp;&nbsp;&nbsp;—<sup>4,9</sup> | &nbsp;&nbsp;4.67 | &nbsp;&nbsp;4.67 | (0.01) | (2.64) |  | (2.65) | 15.41 | &nbsp;&nbsp;37.99 | 0.64<sup>7</sup> | 0.63<sup>7</sup> | (0.01)<sup>4</sup> | 271 | &nbsp;&nbsp;8 |
| 12-31-2022 | 26.51 &nbsp;&nbsp;&nbsp;&nbsp;—<sup>4,9</sup> | (7.86) | (7.86) | &nbsp;&nbsp;&nbsp;&nbsp;— | (5.26)<sup>8</sup> |  | (5.26) | 13.39 | (30.20) | 0.63<sup>7</sup> | 0.62<sup>7</sup> | (0.02)<sup>4</sup> | 188 | 11 |
| 12-31-2021 | 23.31 (0.04)<sup>4</sup> | &nbsp;&nbsp;5.05 | &nbsp;&nbsp;5.01 | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.81)<sup>8</sup> |  | (1.81) | 26.51 | &nbsp;&nbsp;21.55 | 0.63<sup>7</sup> | 0.62<sup>7</sup> | (0.14)<sup>4</sup> | 265 | 14 |
| 12-31-2020 | 17.56 (0.01)<sup>4</sup> | &nbsp;&nbsp;8.58 | &nbsp;&nbsp;8.57 | (0.02) | (2.80) |  | (2.82) | 23.31 | &nbsp;&nbsp;51.52 | 0.63<sup>7</sup> | 0.62<sup>7</sup> | (0.06)<sup>4</sup> | 215 | &nbsp;&nbsp;4 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 06-30-2025<sup>3</sup> | 18.15 (0.02)<sup>4</sup> | &nbsp;&nbsp;1.82 | &nbsp;&nbsp;1.80 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 19.95 | &nbsp;&nbsp;&nbsp;9.92<sup>5</sup> | 0.78<sup>67</sup> | 0.68<sup>67</sup> | (0.27)<sup>46</sup> | 585 | &nbsp;&nbsp;8 |
| 12-31-2024 | 15.12 (0.02)<sup>4</sup> | &nbsp;&nbsp;4.63 | &nbsp;&nbsp;4.61 | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.58)<sup>8</sup> |  | (1.58) | 18.15 | &nbsp;&nbsp;31.03 | 0.78<sup>7</sup> | 0.68<sup>7</sup> | (0.13)<sup>4</sup> | 577 | &nbsp;&nbsp;5 |
| 12-31-2023 | 13.19 (0.02)<sup>4</sup> | &nbsp;&nbsp;4.60 | &nbsp;&nbsp;4.58 | (0.01) | (2.64) |  | (2.65) | 15.12 | &nbsp;&nbsp;37.88 | 0.79<sup>7</sup> | 0.69<sup>7</sup> | (0.10)<sup>4</sup> | 545 | &nbsp;&nbsp;8 |
| 12-31-2022 | 26.22 (0.02)<sup>4</sup> | (7.76) | (7.78) | (0.01) | (5.24)<sup>8</sup> |  | (5.25) | 13.19 | (30.25) | 0.78<sup>7</sup> | 0.68<sup>7</sup> | (0.11)<sup>4</sup> | 481 | 11 |
| 12-31-2021 | 23.07 (0.06)<sup>4</sup> | &nbsp;&nbsp;5.00 | &nbsp;&nbsp;4.94 | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.79)<sup>8</sup> |  | (1.79) | 26.22 | &nbsp;&nbsp;21.49 | 0.78<sup>7</sup> | 0.68<sup>7</sup> | (0.23)<sup>4</sup> | 739 | 14 |
| 12-31-2020 | 17.41 (0.03)<sup>4</sup> | &nbsp;&nbsp;8.51 | &nbsp;&nbsp;8.48 | (0.02) | (2.80) |  | (2.82) | 23.07 | &nbsp;&nbsp;51.46 | 0.78<sup>7</sup> | 0.68<sup>7</sup> | (0.13)<sup>4</sup> | 729 | &nbsp;&nbsp;4 |
| **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** |
| 06-30-2025<sup>3</sup> | 18.50 &nbsp;&nbsp;0.01<sup>4</sup> | &nbsp;&nbsp;1.85 | &nbsp;&nbsp;1.86 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 20.36 | &nbsp;&nbsp;10.05<sup>5</sup> | 0.28<sup>67</sup> | 0.27<sup>67</sup> | &nbsp;&nbsp;0.14<sup>46</sup> | &nbsp;&nbsp;91 | &nbsp;&nbsp;8 |
| 12-31-2024 | 15.33 &nbsp;&nbsp;0.05<sup>4</sup> | &nbsp;&nbsp;4.71 | &nbsp;&nbsp;4.76 | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.59)<sup>8</sup> |  | (1.59) | 18.50 | &nbsp;&nbsp;31.60 | 0.28<sup>7</sup> | 0.27<sup>7</sup> | &nbsp;&nbsp;0.29<sup>4</sup> | &nbsp;&nbsp;91 | &nbsp;&nbsp;5 |
| 12-31-2023 | 13.29 &nbsp;&nbsp;0.05<sup>4</sup> | &nbsp;&nbsp;4.64 | &nbsp;&nbsp;4.69 | (0.01) | (2.64) |  | (2.65) | 15.33 | &nbsp;&nbsp;38.45 | 0.29<sup>7</sup> | 0.28<sup>7</sup> | &nbsp;&nbsp;0.31<sup>4</sup> | &nbsp;&nbsp;86 | &nbsp;&nbsp;8 |
| 12-31-2022 | 26.38 &nbsp;&nbsp;0.06<sup>4</sup> | (7.82) | (7.76) | &nbsp;&nbsp;&nbsp;&nbsp;— | (5.33)<sup>8</sup> |  | (5.33) | 13.29 | (29.95) | 0.28<sup>7</sup> | 0.27<sup>7</sup> | &nbsp;&nbsp;0.31<sup>4</sup> | &nbsp;&nbsp;76 | 11 |
| 12-31-2021 | 23.19 &nbsp;&nbsp;0.05<sup>4</sup> | &nbsp;&nbsp;5.04 | &nbsp;&nbsp;5.09 | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.90)<sup>8</sup> |  | (1.90) | 26.38 | &nbsp;&nbsp;22.00 | 0.28<sup>7</sup> | 0.27<sup>7</sup> | &nbsp;&nbsp;0.19<sup>4</sup> | 106 | 14 |
| 12-31-2020 | 17.43 &nbsp;&nbsp;0.05<sup>4</sup> | &nbsp;&nbsp;8.53 | &nbsp;&nbsp;8.58 | (0.02) | (2.80) |  | (2.82) | 23.19 | &nbsp;&nbsp;51.98 | 0.28<sup>7</sup> | 0.27<sup>7</sup> | &nbsp;&nbsp;0.28<sup>4</sup> | 103 | &nbsp;&nbsp;4 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Capital gain distributions may vary between classes due to expense differences applied to ordinary income distributions from underlying funds. 9 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Capital gain distributions may vary between classes due to expense differences applied to ordinary income distributions from underlying funds. 9 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Capital gain distributions may vary between classes due to expense differences applied to ordinary income distributions from underlying funds. 9 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Capital gain distributions may vary between classes due to expense differences applied to ordinary income distributions from underlying funds. 9 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Capital gain distributions may vary between classes due to expense differences applied to ordinary income distributions from underlying funds. 9 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Capital gain distributions may vary between classes due to expense differences applied to ordinary income distributions from underlying funds. 9 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Capital gain distributions may vary between classes due to expense differences applied to ordinary income distributions from underlying funds. 9 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Capital gain distributions may vary between classes due to expense differences applied to ordinary income distributions from underlying funds. 9 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Capital gain distributions may vary between classes due to expense differences applied to ordinary income distributions from underlying funds. 9 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Capital gain distributions may vary between classes due to expense differences applied to ordinary income distributions from underlying funds. 9 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Capital gain distributions may vary between classes due to expense differences applied to ordinary income distributions from underlying funds. 9 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Capital gain distributions may vary between classes due to expense differences applied to ordinary income distributions from underlying funds. 9 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Capital gain distributions may vary between classes due to expense differences applied to ordinary income distributions from underlying funds. 9 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Capital gain distributions may vary between classes due to expense differences applied to ordinary income distributions from underlying funds. 9 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Capital gain distributions may vary between classes due to expense differences applied to ordinary income distributions from underlying funds. 9 Less than $0.005 per share.** |

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| **The accompanying notes are an integral part of the financial statements.** | 196 |

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[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

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| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period |  | Ratios and supplemental data | Ratios and supplemental data | Ratios and supplemental data |
|  |  | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period<br> ($) Net<br> investment<br> income<br> (loss)<br> ($)<sup>1</sup> | Net<br> realized<br> and<br> unrealized<br> gain<br> (loss)<br> on investments<br> ($) | Total<br> from<br> investment<br> operations<br> ($) | From net<br> investment<br> income<br> ($) | From net<br> realized<br> gain<br> ($) | From tax<br> return<br> of capital<br> ($) | Total<br> distributions<br> ($) | Net asset<br> value, end<br> of period<br> ($) | Total<br> return<br> (%)<sup>2</sup> | Expenses<br> before<br> reductions<br> (%) | Expenses<br> including<br> reductions<br> (%) | Net<br> investment<br> income<br> (loss)<br> (%) | Net<br> assets,<br> end of<br> period (in<br> millions) | Portfolio<br> turnover<br> (%) |
| **American Growth-Income Trust** | **American Growth-Income Trust** | **American Growth-Income Trust** | **American Growth-Income Trust** | **American Growth-Income Trust** | **American Growth-Income Trust** | **American Growth-Income Trust** | **American Growth-Income Trust** | **American Growth-Income Trust** | **American Growth-Income Trust** | **American Growth-Income Trust** | **American Growth-Income Trust** | **American Growth-Income Trust** | **American Growth-Income Trust** | **American Growth-Income Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 06-30-2025<sup>3</sup> | 18.05 (0.01)<sup>4</sup> | &nbsp;&nbsp;1.42 | &nbsp;&nbsp;1.41 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 19.46 | &nbsp;&nbsp;&nbsp;7.81<sup>5</sup> | 0.63<sup>67</sup> | 0.63<sup>67</sup> | (0.13)<sup>46</sup> | 380 | &nbsp;&nbsp;7 |
| 12-31-2024 | 15.73 &nbsp;&nbsp;0.13<sup>4</sup> | &nbsp;&nbsp;3.58 | &nbsp;&nbsp;3.71 | (0.12) | (1.27) |  | (1.39) | 18.05 | &nbsp;&nbsp;23.71 | 0.63<sup>7</sup> | 0.63<sup>7</sup> | &nbsp;&nbsp;0.72<sup>4</sup> | 368 | &nbsp;&nbsp;6 |
| 12-31-2023 | 14.21 &nbsp;&nbsp;0.15<sup>4</sup> | &nbsp;&nbsp;3.27 | &nbsp;&nbsp;3.42 | (0.16) | (1.74) |  | (1.90) | 15.73 | &nbsp;&nbsp;25.68 | 0.64<sup>7</sup> | 0.63<sup>7</sup> | &nbsp;&nbsp;0.97<sup>4</sup> | 315 | &nbsp;&nbsp;8 |
| 12-31-2022 | 18.55 &nbsp;&nbsp;0.14<sup>4</sup> | (3.28) | (3.14) | (0.13) | (1.07) |  | (1.20) | 14.21 | (16.78) | 0.63<sup>7</sup> | 0.62<sup>7</sup> | &nbsp;&nbsp;0.89<sup>4</sup> | 268 | 12 |
| 12-31-2021 | 15.87 &nbsp;&nbsp;0.13<sup>4</sup> | &nbsp;&nbsp;3.59 | &nbsp;&nbsp;3.72 | (0.13) | (0.91) |  | (1.04) | 18.55 | &nbsp;&nbsp;23.61 | 0.63<sup>7</sup> | 0.62<sup>7</sup> | &nbsp;&nbsp;0.74<sup>4</sup> | 344 | &nbsp;&nbsp;3 |
| 12-31-2020 | 16.38 &nbsp;&nbsp;0.15<sup>4</sup> | &nbsp;&nbsp;1.75 | &nbsp;&nbsp;1.90 | (0.16) | (2.25) |  | (2.41) | 15.87 | &nbsp;&nbsp;13.11 | 0.63<sup>7</sup> | 0.62<sup>7</sup> | &nbsp;&nbsp;0.97<sup>4</sup> | 298 | &nbsp;&nbsp;8 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 06-30-2025<sup>3</sup> | 17.92 (0.02)<sup>4</sup> | &nbsp;&nbsp;1.41 | &nbsp;&nbsp;1.39 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 19.31 | &nbsp;&nbsp;&nbsp;7.76<sup>5</sup> | 0.78<sup>67</sup> | 0.71<sup>67</sup> | (0.21)<sup>46</sup> | 421 | &nbsp;&nbsp;7 |
| 12-31-2024 | 15.62 &nbsp;&nbsp;0.10<sup>4</sup> | &nbsp;&nbsp;3.57 | &nbsp;&nbsp;3.67 | (0.10) | (1.27) |  | (1.37) | 17.92 | &nbsp;&nbsp;23.66 | 0.78<sup>7</sup> | 0.71<sup>7</sup> | &nbsp;&nbsp;0.58<sup>4</sup> | 417 | &nbsp;&nbsp;6 |
| 12-31-2023 | 14.13 &nbsp;&nbsp;0.13<sup>4</sup> | &nbsp;&nbsp;3.24 | &nbsp;&nbsp;3.37 | (0.14) | (1.74) |  | (1.88) | 15.62 | &nbsp;&nbsp;25.52 | 0.79<sup>7</sup> | 0.71<sup>7</sup> | &nbsp;&nbsp;0.85<sup>4</sup> | 410 | &nbsp;&nbsp;8 |
| 12-31-2022 | 18.45 &nbsp;&nbsp;0.12<sup>4</sup> | (3.25) | (3.13) | (0.12) | (1.07) |  | (1.19) | 14.13 | (16.84) | 0.78<sup>7</sup> | 0.70<sup>7</sup> | &nbsp;&nbsp;0.78<sup>4</sup> | 380 | 12 |
| 12-31-2021 | 15.79 &nbsp;&nbsp;0.11<sup>4</sup> | &nbsp;&nbsp;3.58 | &nbsp;&nbsp;3.69 | (0.12) | (0.91) |  | (1.03) | 18.45 | &nbsp;&nbsp;23.51 | 0.78<sup>7</sup> | 0.70<sup>7</sup> | &nbsp;&nbsp;0.61<sup>4</sup> | 531 | &nbsp;&nbsp;3 |
| 12-31-2020 | 16.31 &nbsp;&nbsp;0.14<sup>4</sup> | &nbsp;&nbsp;1.74 | &nbsp;&nbsp;1.88 | (0.15) | (2.25) |  | (2.40) | 15.79 | &nbsp;&nbsp;13.02 | 0.78<sup>7</sup> | 0.70<sup>7</sup> | &nbsp;&nbsp;0.88<sup>4</sup> | 528 | &nbsp;&nbsp;8 |
| **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** |
| 06-30-2025<sup>3</sup> | 18.02 &nbsp;&nbsp;0.02<sup>4</sup> | &nbsp;&nbsp;1.41 | &nbsp;&nbsp;1.43 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 19.45 | &nbsp;&nbsp;&nbsp;8.00<sup>5</sup> | 0.28<sup>67</sup> | 0.28<sup>67</sup> | &nbsp;&nbsp;0.22<sup>46</sup> | 176 | &nbsp;&nbsp;7 |
| 12-31-2024 | 15.69 &nbsp;&nbsp;0.18<sup>4</sup> | &nbsp;&nbsp;3.60 | &nbsp;&nbsp;3.78 | (0.18) | (1.27) |  | (1.45) | 18.02 | &nbsp;&nbsp;24.17 | 0.28<sup>7</sup> | 0.28<sup>7</sup> | &nbsp;&nbsp;1.01<sup>4</sup> | 177 | &nbsp;&nbsp;6 |
| 12-31-2023 | 14.17 &nbsp;&nbsp;0.20<sup>4</sup> | &nbsp;&nbsp;3.27 | &nbsp;&nbsp;3.47 | (0.21) | (1.74) |  | (1.95) | 15.69 | &nbsp;&nbsp;26.14 | 0.29<sup>7</sup> | 0.28<sup>7</sup> | &nbsp;&nbsp;1.29<sup>4</sup> | 175 | &nbsp;&nbsp;8 |
| 12-31-2022 | 18.52 &nbsp;&nbsp;0.20<sup>4</sup> | (3.29) | (3.09) | (0.19) | (1.07) |  | (1.26) | 14.17 | (16.56) | 0.28<sup>7</sup> | 0.27<sup>7</sup> | &nbsp;&nbsp;1.24<sup>4</sup> | 163 | 12 |
| 12-31-2021 | 15.83 &nbsp;&nbsp;0.19<sup>4</sup> | &nbsp;&nbsp;3.60 | &nbsp;&nbsp;3.79 | (0.19) | (0.91) |  | (1.10) | 18.52 | &nbsp;&nbsp;24.13 | 0.28<sup>7</sup> | 0.27<sup>7</sup> | &nbsp;&nbsp;1.05<sup>4</sup> | 216 | &nbsp;&nbsp;3 |
| 12-31-2020 | 16.34 &nbsp;&nbsp;0.21<sup>4</sup> | &nbsp;&nbsp;1.74 | &nbsp;&nbsp;1.95 | (0.21) | (2.25) |  | (2.46) | 15.83 | &nbsp;&nbsp;13.47 | 0.28<sup>7</sup> | 0.27<sup>7</sup> | &nbsp;&nbsp;1.32<sup>4</sup> | 208 | &nbsp;&nbsp;8 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** |
| **American International Trust** | **American International Trust** | **American International Trust** | **American International Trust** | **American International Trust** | **American International Trust** | **American International Trust** | **American International Trust** | **American International Trust** | **American International Trust** | **American International Trust** | **American International Trust** | **American International Trust** | **American International Trust** | **American International Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 06-30-2025<sup>3</sup> | 14.77 (0.04)<sup>4</sup> | &nbsp;&nbsp;1.78 | &nbsp;&nbsp;1.74 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 16.51 | &nbsp;&nbsp;11.78<sup>5</sup> | 0.64<sup>67</sup> | 0.63<sup>67</sup> | (0.50)<sup>46</sup> | 139 | &nbsp;&nbsp;1 |
| 12-31-2024 | 14.50 &nbsp;&nbsp;0.12<sup>4</sup> | &nbsp;&nbsp;0.29 | &nbsp;&nbsp;0.41 | (0.12) | (0.02) |  | (0.14) | 14.77 | &nbsp;&nbsp;&nbsp;2.79 | 0.64<sup>7</sup> | 0.63<sup>7</sup> | &nbsp;&nbsp;0.80<sup>4</sup> | 122 | &nbsp;&nbsp;6 |
| 12-31-2023 | 15.03 &nbsp;&nbsp;0.15<sup>4</sup> | &nbsp;&nbsp;1.87 | &nbsp;&nbsp;2.02 | (0.15) | (2.40) |  | (2.55) | 14.50 | &nbsp;&nbsp;15.39 | 0.65<sup>7</sup> | 0.64<sup>7</sup> | &nbsp;&nbsp;0.93<sup>4</sup> | 122 | &nbsp;&nbsp;7 |
| 12-31-2022 | 20.56 &nbsp;&nbsp;0.22<sup>4</sup> | (4.63) | (4.41) | (0.22) | (0.90) |  | (1.12) | 15.03 | (21.11) | 0.64<sup>7</sup> | 0.63<sup>7</sup> | &nbsp;&nbsp;1.32<sup>4</sup> | 106 | 15 |
| 12-31-2021 | 21.41 &nbsp;&nbsp;0.41<sup>4</sup> | (0.80) | (0.39) | (0.42) | (0.04) |  | (0.46) | 20.56 | &nbsp;&nbsp;(1.81) | 0.63<sup>7</sup> | 0.63<sup>7</sup> | &nbsp;&nbsp;1.89<sup>4</sup> | 145 | &nbsp;&nbsp;9 |
| 12-31-2020 | 19.83 &nbsp;&nbsp;0.06<sup>4</sup> | &nbsp;&nbsp;2.46 | &nbsp;&nbsp;2.52 | (0.07) | (0.87) |  | (0.94) | 21.41 | &nbsp;&nbsp;13.56 | 0.64<sup>7</sup> | 0.63<sup>7</sup> | &nbsp;&nbsp;0.32<sup>4</sup> | 170 | 10 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 06-30-2025<sup>3</sup> | 14.76 (0.05)<sup>4</sup> | &nbsp;&nbsp;1.79 | &nbsp;&nbsp;1.74 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 16.50 | &nbsp;&nbsp;11.79<sup>5</sup> | 0.79<sup>67</sup> | 0.73<sup>67</sup> | (0.60)<sup>46</sup> | 204 | &nbsp;&nbsp;1 |
| 12-31-2024 | 14.50 &nbsp;&nbsp;0.10<sup>4</sup> | &nbsp;&nbsp;0.28 | &nbsp;&nbsp;0.38 | (0.10) | (0.02) |  | (0.12) | 14.76 | &nbsp;&nbsp;&nbsp;2.61 | 0.79<sup>7</sup> | 0.75<sup>7</sup> | &nbsp;&nbsp;0.62<sup>4</sup> | 201 | &nbsp;&nbsp;6 |
| 12-31-2023 | 15.03 &nbsp;&nbsp;0.12<sup>4</sup> | &nbsp;&nbsp;1.87 | &nbsp;&nbsp;1.99 | (0.12) | (2.40) |  | (2.52) | 14.50 | &nbsp;&nbsp;15.23 | 0.80<sup>7</sup> | 0.77<sup>7</sup> | &nbsp;&nbsp;0.75<sup>4</sup> | 213 | &nbsp;&nbsp;7 |
| 12-31-2022 | 20.54 &nbsp;&nbsp;0.20<sup>4</sup> | (4.61) | (4.41) | (0.20) | (0.90) |  | (1.10) | 15.03 | (21.16) | 0.79<sup>7</sup> | 0.76<sup>7</sup> | &nbsp;&nbsp;1.20<sup>4</sup> | 206 | 15 |
| 12-31-2021 | 21.39 &nbsp;&nbsp;0.39<sup>4</sup> | (0.81) | (0.42) | (0.39) | (0.04) |  | (0.43) | 20.54 | &nbsp;&nbsp;(1.96) | 0.78<sup>7</sup> | 0.76<sup>7</sup> | &nbsp;&nbsp;1.80<sup>4</sup> | 293 | &nbsp;&nbsp;9 |
| 12-31-2020 | 19.82 &nbsp;&nbsp;0.03<sup>4</sup> | &nbsp;&nbsp;2.46 | &nbsp;&nbsp;2.49 | (0.05) | (0.87) |  | (0.92) | 21.39 | &nbsp;&nbsp;13.40 | 0.79<sup>7</sup> | 0.76<sup>7</sup> | &nbsp;&nbsp;0.16<sup>4</sup> | 317 | 10 |
| **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** |
| 06-30-2025<sup>3</sup> | 14.69 (0.01)<sup>4</sup> | &nbsp;&nbsp;1.78 | &nbsp;&nbsp;1.77 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 16.46 | &nbsp;&nbsp;12.05<sup>5</sup> | 0.29<sup>67</sup> | 0.28<sup>67</sup> | (0.15)<sup>46</sup> | &nbsp;&nbsp;27 | &nbsp;&nbsp;1 |
| 12-31-2024 | 14.43 &nbsp;&nbsp;0.17<sup>4</sup> | &nbsp;&nbsp;0.28 | &nbsp;&nbsp;0.45 | (0.17) | (0.02) |  | (0.19) | 14.69 | &nbsp;&nbsp;&nbsp;3.10 | 0.29<sup>7</sup> | 0.28<sup>7</sup> | &nbsp;&nbsp;1.08<sup>4</sup> | &nbsp;&nbsp;26 | &nbsp;&nbsp;6 |
| 12-31-2023 | 14.97 &nbsp;&nbsp;0.20<sup>4</sup> | &nbsp;&nbsp;1.86 | &nbsp;&nbsp;2.06 | (0.20) | (2.40) |  | (2.60) | 14.43 | &nbsp;&nbsp;15.76 | 0.30<sup>7</sup> | 0.29<sup>7</sup> | &nbsp;&nbsp;1.24<sup>4</sup> | &nbsp;&nbsp;28 | &nbsp;&nbsp;7 |
| 12-31-2022 | 20.48 &nbsp;&nbsp;0.29<sup>4</sup> | (4.62) | (4.33) | (0.28) | (0.90) |  | (1.18) | 14.97 | (20.80) | 0.29<sup>7</sup> | 0.28<sup>7</sup> | &nbsp;&nbsp;1.72<sup>4</sup> | &nbsp;&nbsp;27 | 15 |
| 12-31-2021 | 21.34 &nbsp;&nbsp;0.50<sup>4</sup> | (0.82) | (0.32) | (0.50) | (0.04) |  | (0.54) | 20.48 | &nbsp;&nbsp;(1.50) | 0.28<sup>7</sup> | 0.28<sup>7</sup> | &nbsp;&nbsp;2.31<sup>4</sup> | &nbsp;&nbsp;36 | &nbsp;&nbsp;9 |
| 12-31-2020 | 19.75 &nbsp;&nbsp;0.12<sup>4</sup> | &nbsp;&nbsp;2.47 | &nbsp;&nbsp;2.59 | (0.13) | (0.87) |  | (1.00) | 21.34 | &nbsp;&nbsp;13.98 | 0.29<sup>7</sup> | 0.28<sup>7</sup> | &nbsp;&nbsp;0.64<sup>4</sup> | &nbsp;&nbsp;38 | 10 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** |

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|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 197 |

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[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

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| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period |  | Ratios and supplemental data | Ratios and supplemental data | Ratios and supplemental data |
|  |  | **Income (loss) from investment operations** | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period<br> ($) | Net<br> investment<br> income<br> (loss)<br> ($)<sup>1</sup> | Net<br> realized<br> and<br> unrealized<br> gain<br> (loss)<br> on investments<br> ($) | Total<br> from<br> investment<br> operations<br> ($) | From net<br> investment<br> income<br> ($) | From net<br> realized<br> gain<br> ($) | From tax<br> return<br> of capital<br> ($) | Total<br> distributions<br> ($) | Net asset<br> value, end<br> of period<br> ($) | Total<br> return<br> (%)<sup>2</sup> | Expenses<br> before<br> reductions<br> (%) | Expenses<br> including<br> reductions<br> (%) | Net<br> investment<br> income<br> (loss)<br> (%) | Net<br> assets,<br> end of<br> period (in<br> millions) | Portfolio<br> turnover<br> (%) |
| **Blue Chip Growth Trust** | **Blue Chip Growth Trust** | **Blue Chip Growth Trust** | **Blue Chip Growth Trust** | **Blue Chip Growth Trust** | **Blue Chip Growth Trust** | **Blue Chip Growth Trust** | **Blue Chip Growth Trust** | **Blue Chip Growth Trust** | **Blue Chip Growth Trust** | **Blue Chip Growth Trust** | **Blue Chip Growth Trust** | **Blue Chip Growth Trust** | **Blue Chip Growth Trust** | **Blue Chip Growth Trust** | **Blue Chip Growth Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 06-30-2025<sup>3</sup> | 33.67 | (0.04) | &nbsp;&nbsp;&nbsp;2.69 | &nbsp;&nbsp;&nbsp;2.65 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 36.32 | &nbsp;&nbsp;&nbsp;7.87<sup>4</sup> | 0.82<sup>5</sup> | 0.79<sup>5</sup> | (0.24)<sup>5</sup> | &nbsp;&nbsp;&nbsp;360 | 10 |
| 12-31-2024 | 27.01 | (0.07) | &nbsp;&nbsp;&nbsp;9.59 | &nbsp;&nbsp;&nbsp;9.52 | &nbsp;&nbsp;&nbsp;&nbsp;— | (2.86) |  | (2.86) | 33.67 | &nbsp;&nbsp;35.65 | 0.82 | 0.78 | (0.23) | &nbsp;&nbsp;&nbsp;358 | 17 |
| 12-31-2023 | 18.06 | (0.04) | &nbsp;&nbsp;&nbsp;8.99 | &nbsp;&nbsp;&nbsp;8.95 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 27.01 | &nbsp;&nbsp;49.56 | 0.83 | 0.79 | (0.19) | &nbsp;&nbsp;&nbsp;304 | 11 |
| 12-31-2022 | 40.95 | (0.08) | (14.95) | (15.03) | &nbsp;&nbsp;&nbsp;&nbsp;— | (7.86) |  | (7.86) | 18.06 | (38.09) | 0.83 | 0.79 | (0.28) | &nbsp;&nbsp;&nbsp;227 | 17 |
| 12-31-2021 | 40.21 | (0.20) | &nbsp;&nbsp;&nbsp;7.02 | &nbsp;&nbsp;&nbsp;6.82 | &nbsp;&nbsp;&nbsp;&nbsp;— | (6.08) |  | (6.08) | 40.95 | &nbsp;&nbsp;16.87 | 0.82 | 0.79 | (0.46) | &nbsp;&nbsp;&nbsp;402 | 36 |
| 12-31-2020 | 34.45 | (0.11) | &nbsp;&nbsp;11.57 | &nbsp;&nbsp;11.46 | &nbsp;&nbsp;&nbsp;&nbsp;— | (5.70) |  | (5.70) | 40.21 | &nbsp;&nbsp;34.30 | 0.83 | 0.80 | (0.28) | &nbsp;&nbsp;&nbsp;383 | 24 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 06-30-2025<sup>3</sup> | 30.79 | (0.07) | &nbsp;&nbsp;&nbsp;2.46 | &nbsp;&nbsp;&nbsp;2.39 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 33.18 | &nbsp;&nbsp;&nbsp;7.76<sup>4</sup> | 1.02<sup>5</sup> | 0.99<sup>5</sup> | (0.44)<sup>5</sup> | &nbsp;&nbsp;&nbsp;113 | 10 |
| 12-31-2024 | 24.94 | (0.13) | &nbsp;&nbsp;&nbsp;8.84 | &nbsp;&nbsp;&nbsp;8.71 | &nbsp;&nbsp;&nbsp;&nbsp;— | (2.86) |  | (2.86) | 30.79 | &nbsp;&nbsp;35.36 | 1.02 | 0.98 | (0.43) | &nbsp;&nbsp;&nbsp;114 | 17 |
| 12-31-2023 | 16.71 | (0.08) | &nbsp;&nbsp;&nbsp;8.31 | &nbsp;&nbsp;&nbsp;8.23 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 24.94 | &nbsp;&nbsp;49.25 | 1.03 | 0.99 | (0.39) | &nbsp;&nbsp;&nbsp;101 | 11 |
| 12-31-2022 | 38.84 | (0.13) | (14.14) | (14.27) | &nbsp;&nbsp;&nbsp;&nbsp;— | (7.86) |  | (7.86) | 16.71 | (38.20) | 1.03 | 0.99 | (0.48) | &nbsp;&nbsp;&nbsp;&nbsp;79 | 17 |
| 12-31-2021 | 38.48 | (0.27) | &nbsp;&nbsp;&nbsp;6.71 | &nbsp;&nbsp;&nbsp;6.44 | &nbsp;&nbsp;&nbsp;&nbsp;— | (6.08) |  | (6.08) | 38.84 | &nbsp;&nbsp;16.63 | 1.02 | 0.99 | (0.66) | &nbsp;&nbsp;&nbsp;146 | 36 |
| 12-31-2020 | 33.22 | (0.17) | &nbsp;&nbsp;11.13 | &nbsp;&nbsp;10.96 | &nbsp;&nbsp;&nbsp;&nbsp;— | (5.70) |  | (5.70) | 38.48 | &nbsp;&nbsp;34.06 | 1.03 | 1.00 | (0.48) | &nbsp;&nbsp;&nbsp;150 | 24 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 06-30-2025<sup>3</sup> | 33.84 | (0.03) | &nbsp;&nbsp;&nbsp;2.71 | &nbsp;&nbsp;&nbsp;2.68 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 36.52 | &nbsp;&nbsp;&nbsp;7.92<sup>4</sup> | 0.77<sup>5</sup> | 0.74<sup>5</sup> | (0.19)<sup>5</sup> | 1637 | 10 |
| 12-31-2024 | 27.12 | (0.06) | &nbsp;&nbsp;&nbsp;9.64 | &nbsp;&nbsp;&nbsp;9.58 | &nbsp;&nbsp;&nbsp;&nbsp;— | (2.86) |  | (2.86) | 33.84 | &nbsp;&nbsp;35.73 | 0.77 | 0.73 | (0.18) | 1605 | 17 |
| 12-31-2023 | 18.13 | (0.03) | &nbsp;&nbsp;&nbsp;9.02 | &nbsp;&nbsp;&nbsp;8.99 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 27.12 | &nbsp;&nbsp;49.59 | 0.78 | 0.74 | (0.14) | 1382 | 11 |
| 12-31-2022 | 41.04 | (0.07) | (14.98) | (15.05) | &nbsp;&nbsp;&nbsp;&nbsp;— | (7.86) |  | (7.86) | 18.13 | (38.05) | 0.78 | 0.74 | (0.23) | 1119 | 17 |
| 12-31-2021 | 40.27 | (0.18) | &nbsp;&nbsp;&nbsp;7.03 | &nbsp;&nbsp;&nbsp;6.85 | &nbsp;&nbsp;&nbsp;&nbsp;— | (6.08) |  | (6.08) | 41.04 | &nbsp;&nbsp;16.92 | 0.77 | 0.74 | (0.41) | 1883 | 36 |
| 12-31-2020 | 34.47 | (0.09) | &nbsp;&nbsp;11.59 | &nbsp;&nbsp;11.50 | &nbsp;&nbsp;&nbsp;&nbsp;— | (5.70) |  | (5.70) | 40.27 | &nbsp;&nbsp;34.40 | 0.78 | 0.75 | (0.23) | 1823 | 24 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** |
| **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 06-30-2025<sup>3</sup> | 12.17 | &nbsp;&nbsp;0.11 | &nbsp;&nbsp;&nbsp;0.63 | &nbsp;&nbsp;&nbsp;0.74 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 12.91 | &nbsp;&nbsp;&nbsp;6.08<sup>4</sup> | 0.94<sup>5</sup> | 0.90<sup>5</sup> | &nbsp;&nbsp;1.79<sup>5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;10 | 61 |
| 12-31-2024 | 11.02 | &nbsp;&nbsp;0.24 | &nbsp;&nbsp;&nbsp;1.12 | &nbsp;&nbsp;&nbsp;1.36 | (0.10) | (0.11) |  | (0.21) | 12.17 | &nbsp;&nbsp;12.33 | 0.94 | 0.89 | &nbsp;&nbsp;2.04 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | 83 |
| 12-31-2023 | 10.62 | &nbsp;&nbsp;0.24 | &nbsp;&nbsp;&nbsp;1.56 | &nbsp;&nbsp;&nbsp;1.80 | (0.20) | (1.20) |  | (1.40) | 11.02 | &nbsp;&nbsp;18.18 | 0.95 | 0.90 | &nbsp;&nbsp;2.10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | 76 |
| 12-31-2022 | 14.06 | &nbsp;&nbsp;0.14 | &nbsp;&nbsp;(1.83) | &nbsp;&nbsp;(1.69) | (0.13) | (1.62) |  | (1.75) | 10.62 | (11.86) | 0.94 | 0.90 | &nbsp;&nbsp;1.14 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | 88 |
| 12-31-2021 | 13.39 | &nbsp;&nbsp;0.09 | &nbsp;&nbsp;&nbsp;2.31 | &nbsp;&nbsp;&nbsp;2.40 | (0.11) | (1.62) |  | (1.73) | 14.06 | &nbsp;&nbsp;18.13 | 0.93 | 0.88 | &nbsp;&nbsp;0.63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | 55 |
| 12-31-2020 | 12.55 | &nbsp;&nbsp;0.11 | &nbsp;&nbsp;&nbsp;1.98 | &nbsp;&nbsp;&nbsp;2.09 | (0.15) | (1.10) |  | (1.25) | 13.39 | &nbsp;&nbsp;17.40 | 0.94 | 0.90 | &nbsp;&nbsp;0.85 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | 88 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 06-30-2025<sup>3</sup> | 12.07 | &nbsp;&nbsp;0.10 | &nbsp;&nbsp;&nbsp;0.61 | &nbsp;&nbsp;&nbsp;0.71 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 12.78 | &nbsp;&nbsp;&nbsp;5.88<sup>4</sup> | 1.14<sup>5</sup> | 1.10<sup>5</sup> | &nbsp;&nbsp;1.59<sup>5</sup> | &nbsp;&nbsp;&nbsp;229 | 61 |
| 12-31-2024 | 10.93 | &nbsp;&nbsp;0.22 | &nbsp;&nbsp;&nbsp;1.11 | &nbsp;&nbsp;&nbsp;1.33 | (0.08) | (0.11) |  | (0.19) | 12.07 | &nbsp;&nbsp;12.15 | 1.14 | 1.09 | &nbsp;&nbsp;1.84 | &nbsp;&nbsp;&nbsp;237 | 83 |
| 12-31-2023 | 10.54 | &nbsp;&nbsp;0.21 | &nbsp;&nbsp;&nbsp;1.56 | &nbsp;&nbsp;&nbsp;1.77 | (0.18) | (1.20) |  | (1.38) | 10.93 | &nbsp;&nbsp;18.01 | 1.15 | 1.10 | &nbsp;&nbsp;1.90 | &nbsp;&nbsp;&nbsp;245 | 76 |
| 12-31-2022 | 13.97 | &nbsp;&nbsp;0.11 | &nbsp;&nbsp;(1.82) | &nbsp;&nbsp;(1.71) | (0.10) | (1.62) |  | (1.72) | 10.54 | (12.07) | 1.14 | 1.10 | &nbsp;&nbsp;0.93 | &nbsp;&nbsp;&nbsp;233 | 88 |
| 12-31-2021 | 13.32 | &nbsp;&nbsp;0.06 | &nbsp;&nbsp;&nbsp;2.29 | &nbsp;&nbsp;&nbsp;2.35 | (0.08) | (1.62) |  | (1.70) | 13.97 | &nbsp;&nbsp;17.85 | 1.13 | 1.08 | &nbsp;&nbsp;0.43 | &nbsp;&nbsp;&nbsp;290 | 55 |
| 12-31-2020 | 12.49 | &nbsp;&nbsp;0.09 | &nbsp;&nbsp;&nbsp;1.96 | &nbsp;&nbsp;&nbsp;2.05 | (0.12) | (1.10) |  | (1.22) | 13.32 | &nbsp;&nbsp;17.19 | 1.14 | 1.10 | &nbsp;&nbsp;0.68 | &nbsp;&nbsp;&nbsp;287 | 88 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 06-30-2025<sup>3</sup> | 12.12 | &nbsp;&nbsp;0.11 | &nbsp;&nbsp;&nbsp;0.62 | &nbsp;&nbsp;&nbsp;0.73 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 12.85 | &nbsp;&nbsp;&nbsp;6.02<sup>4</sup> | 0.89<sup>5</sup> | 0.85<sup>5</sup> | &nbsp;&nbsp;1.85<sup>5</sup> | &nbsp;&nbsp;&nbsp;245 | 61 |
| 12-31-2024 | 10.97 | &nbsp;&nbsp;0.25 | &nbsp;&nbsp;&nbsp;1.11 | &nbsp;&nbsp;&nbsp;1.36 | (0.10) | (0.11) |  | (0.21) | 12.12 | &nbsp;&nbsp;12.43 | 0.89 | 0.84 | &nbsp;&nbsp;2.09 | &nbsp;&nbsp;&nbsp;232 | 83 |
| 12-31-2023 | 10.57 | &nbsp;&nbsp;0.24 | &nbsp;&nbsp;&nbsp;1.57 | &nbsp;&nbsp;&nbsp;1.81 | (0.21) | (1.20) |  | (1.41) | 10.97 | &nbsp;&nbsp;18.31 | 0.90 | 0.85 | &nbsp;&nbsp;2.16 | &nbsp;&nbsp;&nbsp;215 | 76 |
| 12-31-2022 | 14.01 | &nbsp;&nbsp;0.15 | &nbsp;&nbsp;(1.84) | &nbsp;&nbsp;(1.69) | (0.13) | (1.62) |  | (1.75) | 10.57 | (11.87) | 0.89 | 0.85 | &nbsp;&nbsp;1.20 | &nbsp;&nbsp;&nbsp;179 | 88 |
| 12-31-2021 | 13.35 | &nbsp;&nbsp;0.10 | &nbsp;&nbsp;&nbsp;2.30 | &nbsp;&nbsp;&nbsp;2.40 | (0.12) | (1.62) |  | (1.74) | 14.01 | &nbsp;&nbsp;18.16 | 0.88 | 0.83 | &nbsp;&nbsp;0.68 | &nbsp;&nbsp;&nbsp;198 | 55 |
| 12-31-2020 | 12.52 | &nbsp;&nbsp;0.12 | &nbsp;&nbsp;&nbsp;1.96 | &nbsp;&nbsp;&nbsp;2.08 | (0.15) | (1.10) |  | (1.25) | 13.35 | &nbsp;&nbsp;17.42 | 0.89 | 0.85 | &nbsp;&nbsp;0.93 | &nbsp;&nbsp;&nbsp;156 | 88 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** |

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|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 198 |

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[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

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| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period |  | Ratios and supplemental data | Ratios and supplemental data | Ratios and supplemental data |
|  |  | **Income (loss) from investment operations** | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period<br> ($) | Net<br> investment<br> income<br> (loss)<br> ($)<sup>1</sup> | Net<br> realized<br> and<br> unrealized<br> gain<br> (loss)<br> on investments<br> ($) | Total<br> from<br> investment<br> operations<br> ($) | From net<br> investment<br> income<br> ($) | From net<br> realized<br> gain<br> ($) | From tax<br> return<br> of capital<br> ($) | Total<br> distributions<br> ($) | Net asset<br> value, end<br> of period<br> ($) | Total<br> return<br> (%)<sup>2</sup> | Expenses<br> before<br> reductions<br> (%) | Expenses<br> including<br> reductions<br> (%) | Net<br> investment<br> income<br> (loss)<br> (%) | Net<br> assets,<br> end of<br> period (in<br> millions) | Portfolio<br> turnover<br> (%) |
| **Disciplined Value Emerging Markets Equity Trust** | **Disciplined Value Emerging Markets Equity Trust** | **Disciplined Value Emerging Markets Equity Trust** | **Disciplined Value Emerging Markets Equity Trust** | **Disciplined Value Emerging Markets Equity Trust** | **Disciplined Value Emerging Markets Equity Trust** | **Disciplined Value Emerging Markets Equity Trust** | **Disciplined Value Emerging Markets Equity Trust** | **Disciplined Value Emerging Markets Equity Trust** | **Disciplined Value Emerging Markets Equity Trust** | **Disciplined Value Emerging Markets Equity Trust** | **Disciplined Value Emerging Markets Equity Trust** | **Disciplined Value Emerging Markets Equity Trust** | **Disciplined Value Emerging Markets Equity Trust** | **Disciplined Value Emerging Markets Equity Trust** | **Disciplined Value Emerging Markets Equity Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 06-30-2025<sup>3</sup> | &nbsp;&nbsp;9.41 | 0.15 | &nbsp;&nbsp;1.08 | &nbsp;&nbsp;1.23 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 10.64 | &nbsp;&nbsp;13.07<sup>4</sup> | 0.98<sup>5</sup> | 0.97<sup>5</sup> | 3.13<sup>5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp;97 |
| 12-31-2024 | 10.06 | 0.18 | (0.41) | (0.23) | (0.42) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.42) | &nbsp;&nbsp;9.41 | &nbsp;&nbsp;(2.48) | 1.08 | 1.07 | 1.76 | &nbsp;&nbsp;&nbsp;&nbsp;6 | 264<sup>6</sup> |
| 12-31-2023 | &nbsp;&nbsp;8.88 | 0.30 | &nbsp;&nbsp;1.03 | &nbsp;&nbsp;1.33 | (0.15) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.15) | 10.06 | &nbsp;&nbsp;15.19 | 1.09 | 1.08 | 3.21 | &nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp;12 |
| 12-31-2022 | 10.50 | 0.37 | (1.63) | (1.26) | (0.36) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.36) | &nbsp;&nbsp;8.88 | (11.67) | 1.12 | 1.11 | 3.83 | &nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp;15 |
| 12-31-2021 | &nbsp;&nbsp;9.67 | 0.26 | &nbsp;&nbsp;0.83 | &nbsp;&nbsp;1.09 | (0.26) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.26) | 10.50 | &nbsp;&nbsp;11.18 | 1.09 | 1.08 | 2.48 | &nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;26 |
| 12-31-2020 | &nbsp;&nbsp;9.57 | 0.16 | &nbsp;&nbsp;0.14 | &nbsp;&nbsp;0.30 | (0.20) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.20) | &nbsp;&nbsp;9.67 | &nbsp;&nbsp;&nbsp;3.56 | 1.21 | 1.20 | 1.99 | &nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp;26 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 06-30-2025<sup>3</sup> | &nbsp;&nbsp;9.41 | 0.14 | &nbsp;&nbsp;1.08 | &nbsp;&nbsp;1.22 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 10.63 | &nbsp;&nbsp;12.96<sup>4</sup> | 1.18<sup>5</sup> | 1.17<sup>5</sup> | 2.91<sup>5</sup> | &nbsp;&nbsp;22 | &nbsp;&nbsp;97 |
| 12-31-2024 | 10.06 | 0.16 | (0.41) | (0.25) | (0.40) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.40) | &nbsp;&nbsp;9.41 | &nbsp;&nbsp;(2.65) | 1.28 | 1.27 | 1.57 | &nbsp;&nbsp;21 | 264<sup>6</sup> |
| 12-31-2023 | &nbsp;&nbsp;8.89 | 0.28 | &nbsp;&nbsp;1.03 | &nbsp;&nbsp;1.31 | (0.14) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.14) | 10.06 | &nbsp;&nbsp;14.85 | 1.29 | 1.28 | 2.97 | &nbsp;&nbsp;26 | &nbsp;&nbsp;12 |
| 12-31-2022 | 10.51 | 0.35 | (1.63) | (1.28) | (0.34) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.34) | &nbsp;&nbsp;8.89 | (11.87) | 1.32 | 1.31 | 3.61 | &nbsp;&nbsp;26 | &nbsp;&nbsp;15 |
| 12-31-2021 | &nbsp;&nbsp;9.67 | 0.24 | &nbsp;&nbsp;0.84 | &nbsp;&nbsp;1.08 | (0.24) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.24) | 10.51 | &nbsp;&nbsp;11.08 | 1.29 | 1.28 | 2.27 | &nbsp;&nbsp;34 | &nbsp;&nbsp;26 |
| 12-31-2020 | &nbsp;&nbsp;9.57 | 0.15 | &nbsp;&nbsp;0.14 | &nbsp;&nbsp;0.29 | (0.19) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.19) | &nbsp;&nbsp;9.67 | &nbsp;&nbsp;&nbsp;3.36 | 1.41 | 1.40 | 1.82 | &nbsp;&nbsp;33 | &nbsp;&nbsp;26 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 06-30-2025<sup>3</sup> | &nbsp;&nbsp;9.39 | 0.16 | &nbsp;&nbsp;1.07 | &nbsp;&nbsp;1.23 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 10.62 | &nbsp;&nbsp;13.21<sup>4</sup> | 0.93<sup>5</sup> | 0.92<sup>5</sup> | 3.17<sup>5</sup> | 212 | &nbsp;&nbsp;97 |
| 12-31-2024 | 10.04 | 0.18 | (0.40) | (0.22) | (0.43) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.43) | &nbsp;&nbsp;9.39 | &nbsp;&nbsp;(2.44) | 1.03 | 1.02 | 1.81 | 192 | 264<sup>6</sup> |
| 12-31-2023 | &nbsp;&nbsp;8.87 | 0.30 | &nbsp;&nbsp;1.03 | &nbsp;&nbsp;1.33 | (0.16) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.16) | 10.04 | &nbsp;&nbsp;15.15 | 1.04 | 1.03 | 3.22 | 189 | &nbsp;&nbsp;12 |
| 12-31-2022 | 10.49 | 0.37 | (1.63) | (1.26) | (0.36) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.36) | &nbsp;&nbsp;8.87 | (11.63) | 1.07 | 1.06 | 3.89 | 173 | &nbsp;&nbsp;15 |
| 12-31-2021 | &nbsp;&nbsp;9.65 | 0.27 | &nbsp;&nbsp;0.83 | &nbsp;&nbsp;1.10 | (0.26) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.26) | 10.49 | &nbsp;&nbsp;11.25 | 1.04 | 1.03 | 2.55 | 210 | &nbsp;&nbsp;26 |
| 12-31-2020 | &nbsp;&nbsp;9.55 | 0.17 | &nbsp;&nbsp;0.14 | &nbsp;&nbsp;0.31 | (0.21) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.21) | &nbsp;&nbsp;9.65 | &nbsp;&nbsp;&nbsp;3.72 | 1.16 | 1.15 | 2.07 | 194 | &nbsp;&nbsp;26 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** |
| **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 06-30-2025<sup>3</sup> | 13.99 | 0.24 | &nbsp;&nbsp;3.47 | &nbsp;&nbsp;3.71 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 17.70 | &nbsp;&nbsp;26.52<sup>4</sup> | 0.85<sup>5</sup> | 0.85<sup>5</sup> | 3.07<sup>5</sup> | &nbsp;&nbsp;81 | &nbsp;&nbsp;36 |
| 12-31-2024 | 15.47 | 0.31 | (0.24) | &nbsp;&nbsp;0.07 | (0.05) | (1.50) |  | (1.55) | 13.99 | &nbsp;&nbsp;(0.38) | 0.84 | 0.84 | 1.95 | &nbsp;&nbsp;68 | &nbsp;&nbsp;93 |
| 12-31-2023 | 13.15 | 0.32 | &nbsp;&nbsp;2.28 | &nbsp;&nbsp;2.60 | (0.28) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.28) | 15.47 | &nbsp;&nbsp;19.96 | 0.87 | 0.86 | 2.22 | &nbsp;&nbsp;77 | &nbsp;&nbsp;81 |
| 12-31-2022 | 14.38 | 0.31 | (1.05) | (0.74) | (0.49) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.49) | 13.15 | &nbsp;&nbsp;(4.77) | 0.93 | 0.92 | 2.33 | &nbsp;&nbsp;67 | &nbsp;&nbsp;74 |
| 12-31-2021 | 13.05 | 0.46 | &nbsp;&nbsp;1.25 | &nbsp;&nbsp;1.71 | (0.38) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.38) | 14.38 | &nbsp;&nbsp;13.06 | 0.93 | 0.92 | 3.21 | &nbsp;&nbsp;78 | &nbsp;&nbsp;60 |
| 12-31-2020 | 12.92 | 0.21 | &nbsp;&nbsp;0.17 | &nbsp;&nbsp;0.38 | (0.25) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.25) | 13.05 | &nbsp;&nbsp;&nbsp;3.27 | 0.94 | 0.94 | 1.85 | &nbsp;&nbsp;77 | 190<sup>6</sup> |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 06-30-2025<sup>3</sup> | 13.97 | 0.22 | &nbsp;&nbsp;3.47 | &nbsp;&nbsp;3.69 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 17.66 | &nbsp;&nbsp;26.41<sup>4</sup> | 1.05<sup>5</sup> | 1.05<sup>5</sup> | 2.86<sup>5</sup> | &nbsp;&nbsp;47 | &nbsp;&nbsp;36 |
| 12-31-2024 | 15.45 | 0.28 | (0.24) | &nbsp;&nbsp;0.04 | (0.02) | (1.50) |  | (1.52) | 13.97 | &nbsp;&nbsp;(0.56) | 1.04 | 1.04 | 1.75 | &nbsp;&nbsp;40 | &nbsp;&nbsp;93 |
| 12-31-2023 | 13.14 | 0.29 | &nbsp;&nbsp;2.27 | &nbsp;&nbsp;2.56 | (0.25) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.25) | 15.45 | &nbsp;&nbsp;19.69 | 1.07 | 1.06 | 2.02 | &nbsp;&nbsp;45 | &nbsp;&nbsp;81 |
| 12-31-2022 | 14.37 | 0.29 | (1.06) | (0.77) | (0.46) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.46) | 13.14 | &nbsp;&nbsp;(4.98) | 1.13 | 1.12 | 2.15 | &nbsp;&nbsp;41 | &nbsp;&nbsp;74 |
| 12-31-2021 | 13.04 | 0.43 | &nbsp;&nbsp;1.25 | &nbsp;&nbsp;1.68 | (0.35) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.35) | 14.37 | &nbsp;&nbsp;12.86 | 1.13 | 1.12 | 3.02 | &nbsp;&nbsp;46 | &nbsp;&nbsp;60 |
| 12-31-2020 | 12.91 | 0.19 | &nbsp;&nbsp;0.17 | &nbsp;&nbsp;0.36 | (0.23) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.23) | 13.04 | &nbsp;&nbsp;&nbsp;3.07 | 1.14 | 1.14 | 1.65 | &nbsp;&nbsp;46 | 190<sup>6</sup> |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 06-30-2025<sup>3</sup> | 13.85 | 0.24 | &nbsp;&nbsp;3.44 | &nbsp;&nbsp;3.68 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 17.53 | &nbsp;&nbsp;26.57<sup>4</sup> | 0.80<sup>5</sup> | 0.80<sup>5</sup> | 3.09<sup>5</sup> | 174 | &nbsp;&nbsp;36 |
| 12-31-2024 | 15.33 | 0.31 | (0.23) | &nbsp;&nbsp;0.08 | (0.06) | (1.50) |  | (1.56) | 13.85 | &nbsp;&nbsp;(0.35) | 0.79 | 0.79 | 1.98 | 156 | &nbsp;&nbsp;93 |
| 12-31-2023 | 13.03 | 0.33 | &nbsp;&nbsp;2.25 | &nbsp;&nbsp;2.58 | (0.28) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.28) | 15.33 | &nbsp;&nbsp;20.05 | 0.82 | 0.81 | 2.27 | 161 | &nbsp;&nbsp;81 |
| 12-31-2022 | 14.26 | 0.31 | (1.04) | (0.73) | (0.50) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.50) | 13.03 | &nbsp;&nbsp;(4.75) | 0.88 | 0.87 | 2.35 | 151 | &nbsp;&nbsp;74 |
| 12-31-2021 | 12.94 | 0.46 | &nbsp;&nbsp;1.24 | &nbsp;&nbsp;1.70 | (0.38) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.38) | 14.26 | &nbsp;&nbsp;13.15 | 0.88 | 0.87 | 3.26 | 193 | &nbsp;&nbsp;60 |
| 12-31-2020 | 12.82 | 0.21 | &nbsp;&nbsp;0.16 | &nbsp;&nbsp;0.37 | (0.25) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.25) | 12.94 | &nbsp;&nbsp;&nbsp;3.27 | 0.89 | 0.89 | 1.90 | 178 | 190<sup>6</sup> |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** |

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|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 199 |

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[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

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| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period |  | Ratios and supplemental data | Ratios and supplemental data | Ratios and supplemental data |
|  |  | **Income (loss) from investment operations** | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period<br> ($) | Net<br> investment<br> income<br> (loss)<br> ($)<sup>1</sup> | Net<br> realized<br> and<br> unrealized<br> gain<br> (loss)<br> on investments<br> ($) | Total<br> from<br> investment<br> operations<br> ($) | From net<br> investment<br> income<br> ($) | From net<br> realized<br> gain<br> ($) | From tax<br> return<br> of capital<br> ($) | Total<br> distributions<br> ($) | Net asset<br> value, end<br> of period<br> ($) | Total<br> return<br> (%)<sup>2</sup> | Expenses<br> before<br> reductions<br> (%) | Expenses<br> including<br> reductions<br> (%) | Net<br> investment<br> income<br> (loss)<br> (%) | Net<br> assets,<br> end of<br> period (in<br> millions) | Portfolio<br> turnover<br> (%) |
| **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 06-30-2025<sup>3</sup> | 14.12 | 0.14 | &nbsp;&nbsp;0.72 | &nbsp;&nbsp;0.86 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 14.98 | &nbsp;&nbsp;&nbsp;6.09<sup>4</sup> | 0.79<sup>5</sup> | 0.76<sup>5</sup> | 1.99<sup>5</sup> | &nbsp;&nbsp;&nbsp;211 | 14 |
| 12-31-2024 | 13.44 | 0.26 | &nbsp;&nbsp;1.34 | &nbsp;&nbsp;1.60 | (0.25) | (0.67) |  | (0.92) | 14.12 | &nbsp;&nbsp;11.67 | 0.77 | 0.74 | 1.79 | &nbsp;&nbsp;&nbsp;211 | 22 |
| 12-31-2023 | 13.93 | 0.27 | &nbsp;&nbsp;0.83 | &nbsp;&nbsp;1.10 | (0.27) | (1.32) |  | (1.59) | 13.44 | &nbsp;&nbsp;&nbsp;9.39 | 0.78 | 0.75 | 1.97 | &nbsp;&nbsp;&nbsp;214 | 18 |
| 12-31-2022 | 16.63 | 0.30 | (0.95) | (0.65) | (0.29) | (1.76) |  | (2.05) | 13.93 | &nbsp;&nbsp;(3.40) | 0.78 | 0.75 | 1.92 | &nbsp;&nbsp;&nbsp;218 | 16 |
| 12-31-2021 | 13.79 | 0.26 | &nbsp;&nbsp;3.23 | &nbsp;&nbsp;3.49 | (0.32) | (0.33) |  | (0.65) | 16.63 | &nbsp;&nbsp;25.42 | 0.77 | 0.74 | 1.62 | &nbsp;&nbsp;&nbsp;250 | 21 |
| 12-31-2020 | 15.35 | 0.30 | (0.40) | (0.10) | (0.41) | (1.05) |  | (1.46) | 13.79 | &nbsp;&nbsp;&nbsp;1.02 | 0.79 | 0.76 | 2.32 | &nbsp;&nbsp;&nbsp;225 | 28 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 06-30-2025<sup>3</sup> | 13.98 | 0.13 | &nbsp;&nbsp;0.71 | &nbsp;&nbsp;0.84 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 14.82 | &nbsp;&nbsp;&nbsp;6.01<sup>4</sup> | 0.99<sup>5</sup> | 0.96<sup>5</sup> | 1.79<sup>5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;96 | 14 |
| 12-31-2024 | 13.33 | 0.23 | &nbsp;&nbsp;1.31 | &nbsp;&nbsp;1.54 | (0.22) | (0.67) |  | (0.89) | 13.98 | &nbsp;&nbsp;11.36 | 0.97 | 0.94 | 1.59 | &nbsp;&nbsp;&nbsp;100 | 22 |
| 12-31-2023 | 13.82 | 0.24 | &nbsp;&nbsp;0.84 | &nbsp;&nbsp;1.08 | (0.25) | (1.32) |  | (1.57) | 13.33 | &nbsp;&nbsp;&nbsp;9.26 | 0.98 | 0.95 | 1.77 | &nbsp;&nbsp;&nbsp;107 | 18 |
| 12-31-2022 | 16.52 | 0.27 | (0.95) | (0.68) | (0.26) | (1.76) |  | (2.02) | 13.82 | &nbsp;&nbsp;(3.64) | 0.98 | 0.95 | 1.72 | &nbsp;&nbsp;&nbsp;113 | 16 |
| 12-31-2021 | 13.70 | 0.23 | &nbsp;&nbsp;3.21 | &nbsp;&nbsp;3.44 | (0.29) | (0.33) |  | (0.62) | 16.52 | &nbsp;&nbsp;25.21 | 0.97 | 0.94 | 1.42 | &nbsp;&nbsp;&nbsp;130 | 21 |
| 12-31-2020 | 15.27 | 0.27 | (0.40) | (0.13) | (0.39) | (1.05) |  | (1.44) | 13.70 | &nbsp;&nbsp;&nbsp;0.75 | 0.99 | 0.96 | 2.11 | &nbsp;&nbsp;&nbsp;120 | 28 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 06-30-2025<sup>3</sup> | 13.99 | 0.14 | &nbsp;&nbsp;0.72 | &nbsp;&nbsp;0.86 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 14.85 | &nbsp;&nbsp;&nbsp;6.15<sup>4</sup> | 0.74<sup>5</sup> | 0.71<sup>5</sup> | 1.89<sup>5</sup> | &nbsp;&nbsp;&nbsp;517 | 14 |
| 12-31-2024 | 13.33 | 0.26 | &nbsp;&nbsp;1.32 | &nbsp;&nbsp;1.58 | (0.25) | (0.67) |  | (0.92) | 13.99 | &nbsp;&nbsp;11.67 | 0.72 | 0.69 | 1.84 | 1056 | 22 |
| 12-31-2023 | 13.82 | 0.28 | &nbsp;&nbsp;0.83 | &nbsp;&nbsp;1.11 | (0.28) | (1.32) |  | (1.60) | 13.33 | &nbsp;&nbsp;&nbsp;9.52 | 0.73 | 0.70 | 2.02 | 1067 | 18 |
| 12-31-2022 | 16.52 | 0.31 | (0.95) | (0.64) | (0.30) | (1.76) |  | (2.06) | 13.82 | &nbsp;&nbsp;(3.38) | 0.73 | 0.70 | 1.96 | 1043 | 16 |
| 12-31-2021 | 13.70 | 0.27 | &nbsp;&nbsp;3.21 | &nbsp;&nbsp;3.48 | (0.33) | (0.33) |  | (0.66) | 16.52 | &nbsp;&nbsp;25.49 | 0.72 | 0.69 | 1.67 | 1311 | 21 |
| 12-31-2020 | 15.27 | 0.31 | (0.41) | (0.10) | (0.42) | (1.05) |  | (1.47) | 13.70 | &nbsp;&nbsp;&nbsp;1.01 | 0.74 | 0.71 | 2.38 | 1139 | 28 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** |
| **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 06-30-2025<sup>3</sup> | 14.20 | 0.09 | &nbsp;&nbsp;0.80 | &nbsp;&nbsp;0.89 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 15.09 | &nbsp;&nbsp;&nbsp;6.27<sup>4</sup> | 0.93<sup>5</sup> | 0.92<sup>5</sup> | 1.31<sup>5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;91 | 26 |
| 12-31-2024 | 11.01 | 0.16 | &nbsp;&nbsp;3.16 | &nbsp;&nbsp;3.32 | (0.13) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.13) | 14.20 | &nbsp;&nbsp;30.23 | 0.94 | 0.93 | 1.27 | &nbsp;&nbsp;&nbsp;&nbsp;95 | 67 |
| 12-31-2023 | 11.20 | 0.21 | &nbsp;&nbsp;0.26 | &nbsp;&nbsp;0.47 | (0.19) | (0.47) |  | (0.66) | 11.01 | &nbsp;&nbsp;&nbsp;5.22 | 0.95 | 0.94 | 1.95 | &nbsp;&nbsp;&nbsp;&nbsp;77 | 68 |
| 12-31-2022 | 16.38 | 0.22 | (2.47) | (2.25) | (0.35) | (2.58) |  | (2.93) | 11.20 | (13.67) | 0.91 | 0.90 | 1.51 | &nbsp;&nbsp;&nbsp;&nbsp;93 | 50 |
| 12-31-2021 | 12.79 | 0.15 | &nbsp;&nbsp;3.65 | &nbsp;&nbsp;3.80 | (0.13) | (0.08) |  | (0.21) | 16.38 | &nbsp;&nbsp;29.70 | 0.90 | 0.89 | 0.96 | &nbsp;&nbsp;&nbsp;132 | 74 |
| 12-31-2020 | 14.08 | 0.14 | (0.06) | &nbsp;&nbsp;0.08 | (0.17) | (1.20) |  | (1.37) | 12.79 | &nbsp;&nbsp;&nbsp;2.17 | 0.94 | 0.93 | 1.15 | &nbsp;&nbsp;&nbsp;&nbsp;93 | 44 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 06-30-2025<sup>3</sup> | 14.00 | 0.08 | &nbsp;&nbsp;0.78 | &nbsp;&nbsp;0.86 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 14.86 | &nbsp;&nbsp;&nbsp;6.14<sup>4</sup> | 1.13<sup>5</sup> | 1.12<sup>5</sup> | 1.12<sup>5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;16 | 26 |
| 12-31-2024 | 10.86 | 0.13 | &nbsp;&nbsp;3.12 | &nbsp;&nbsp;3.25 | (0.11) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.11) | 14.00 | &nbsp;&nbsp;29.99 | 1.14 | 1.13 | 1.07 | &nbsp;&nbsp;&nbsp;&nbsp;16 | 67 |
| 12-31-2023 | 11.06 | 0.18 | &nbsp;&nbsp;0.26 | &nbsp;&nbsp;0.44 | (0.17) | (0.47) |  | (0.64) | 10.86 | &nbsp;&nbsp;&nbsp;4.98 | 1.15 | 1.14 | 1.75 | &nbsp;&nbsp;&nbsp;&nbsp;14 | 68 |
| 12-31-2022 | 16.21 | 0.18 | (2.43) | (2.25) | (0.32) | (2.58) |  | (2.90) | 11.06 | (13.83) | 1.11 | 1.10 | 1.31 | &nbsp;&nbsp;&nbsp;&nbsp;16 | 50 |
| 12-31-2021 | 12.67 | 0.11 | &nbsp;&nbsp;3.62 | &nbsp;&nbsp;3.73 | (0.11) | (0.08) |  | (0.19) | 16.21 | &nbsp;&nbsp;29.38 | 1.10 | 1.09 | 0.75 | &nbsp;&nbsp;&nbsp;&nbsp;22 | 74 |
| 12-31-2020 | 13.96 | 0.11 | (0.05) | &nbsp;&nbsp;0.06 | (0.15) | (1.20) |  | (1.35) | 12.67 | &nbsp;&nbsp;&nbsp;1.99 | 1.14 | 1.13 | 0.95 | &nbsp;&nbsp;&nbsp;&nbsp;15 | 44 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 06-30-2025<sup>3</sup> | 14.13 | 0.10 | &nbsp;&nbsp;0.79 | &nbsp;&nbsp;0.89 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 15.02 | &nbsp;&nbsp;&nbsp;6.30<sup>4</sup> | 0.88<sup>5</sup> | 0.87<sup>5</sup> | 1.36<sup>5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;33 | 26 |
| 12-31-2024 | 10.95 | 0.16 | &nbsp;&nbsp;3.16 | &nbsp;&nbsp;3.32 | (0.14) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.14) | 14.13 | &nbsp;&nbsp;30.36 | 0.89 | 0.88 | 1.32 | &nbsp;&nbsp;&nbsp;&nbsp;31 | 67 |
| 12-31-2023 | 11.15 | 0.21 | &nbsp;&nbsp;0.25 | &nbsp;&nbsp;0.46 | (0.19) | (0.47) |  | (0.66) | 10.95 | &nbsp;&nbsp;&nbsp;5.21 | 0.90 | 0.89 | 2.00 | &nbsp;&nbsp;&nbsp;&nbsp;26 | 68 |
| 12-31-2022 | 16.32 | 0.22 | (2.45) | (2.23) | (0.36) | (2.58) |  | (2.94) | 11.15 | (13.61) | 0.86 | 0.85 | 1.57 | &nbsp;&nbsp;&nbsp;&nbsp;27 | 50 |
| 12-31-2021 | 12.75 | 0.15 | &nbsp;&nbsp;3.64 | &nbsp;&nbsp;3.79 | (0.14) | (0.08) |  | (0.22) | 16.32 | &nbsp;&nbsp;29.70 | 0.85 | 0.84 | 1.01 | &nbsp;&nbsp;&nbsp;&nbsp;34 | 74 |
| 12-31-2020 | 14.03 | 0.14 | (0.04) | &nbsp;&nbsp;0.10 | (0.18) | (1.20) |  | (1.38) | 12.75 | &nbsp;&nbsp;&nbsp;2.31 | 0.89 | 0.88 | 1.20 | &nbsp;&nbsp;&nbsp;&nbsp;25 | 44 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** |

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|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 200 |

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[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

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| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period |  | Ratios and supplemental data | Ratios and supplemental data | Ratios and supplemental data |
|  |  | **Income (loss) from investment operations** | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period<br> ($) | Net<br> investment<br> income<br> (loss)<br> ($)<sup>1</sup> | Net<br> realized<br> and<br> unrealized<br> gain<br> (loss)<br> on investments<br> ($) | Total<br> from<br> investment<br> operations<br> ($) | From net<br> investment<br> income<br> ($) | From net<br> realized<br> gain<br> ($) | From tax<br> return<br> of capital<br> ($) | Total<br> distributions<br> ($) | Net asset<br> value, end<br> of period<br> ($) | Total<br> return<br> (%)<sup>2</sup> | Expenses<br> before<br> reductions<br> (%) | Expenses<br> including<br> reductions<br> (%) | Net<br> investment<br> income<br> (loss)<br> (%) | Net<br> assets,<br> end of<br> period (in<br> millions) | Portfolio<br> turnover<br> (%) |
| **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 06-30-2025<sup>3</sup> | 32.65 | &nbsp;&nbsp;0.11 | (0.25) | (0.14) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 32.51 | &nbsp;&nbsp;(0.43)<sup>4</sup> | 0.76<sup>5</sup> | 0.75<sup>5</sup> | &nbsp;&nbsp;0.71<sup>5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;99 | 13 |
| 12-31-2024 | 28.84 | &nbsp;&nbsp;0.13 | &nbsp;&nbsp;6.76 | &nbsp;&nbsp;6.89 | (0.04) | (3.04) |  | (3.08) | 32.65 | &nbsp;&nbsp;24.16 | 0.76 | 0.75 | &nbsp;&nbsp;0.40 | &nbsp;&nbsp;&nbsp;113 | 16 |
| 12-31-2023 | 24.72 | &nbsp;&nbsp;0.11 | &nbsp;&nbsp;7.89 | &nbsp;&nbsp;8.00 | (0.11) | (3.77) |  | (3.88) | 28.84 | &nbsp;&nbsp;35.40 | 0.77 | 0.76 | &nbsp;&nbsp;0.39 | &nbsp;&nbsp;&nbsp;105 | 16 |
| 12-31-2022 | 36.40 | &nbsp;&nbsp;0.07 | (8.85) | (8.78) | (0.07) | (2.83) |  | (2.90) | 24.72 | (24.29) | 0.76 | 0.76 | &nbsp;&nbsp;0.24 | &nbsp;&nbsp;&nbsp;&nbsp;85 | 29 |
| 12-31-2021 | 30.15 | &nbsp;&nbsp;0.04 | &nbsp;&nbsp;9.14 | &nbsp;&nbsp;9.18 | (0.04) | (2.89) |  | (2.93) | 36.40 | &nbsp;&nbsp;30.63 | 0.76 | 0.75 | &nbsp;&nbsp;0.11 | &nbsp;&nbsp;&nbsp;138 | 14 |
| 12-31-2020 | 24.56 | &nbsp;&nbsp;0.06 | &nbsp;&nbsp;6.42 | &nbsp;&nbsp;6.48 | (0.10) | (0.79) |  | (0.89) | 30.15 | &nbsp;&nbsp;26.87 | 0.76 | 0.76 | &nbsp;&nbsp;0.26 | &nbsp;&nbsp;&nbsp;120 | 19 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 06-30-2025<sup>3</sup> | 32.42 | &nbsp;&nbsp;0.08 | (0.25) | (0.17) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 32.25 | &nbsp;&nbsp;(0.52)<sup>4</sup> | 0.96<sup>5</sup> | 0.95<sup>5</sup> | &nbsp;&nbsp;0.50<sup>5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;47 | 13 |
| 12-31-2024 | 28.68 | &nbsp;&nbsp;0.06 | &nbsp;&nbsp;6.72 | &nbsp;&nbsp;6.78 | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.04) |  | (3.04) | 32.42 | &nbsp;&nbsp;23.92 | 0.96 | 0.95 | &nbsp;&nbsp;0.20 | &nbsp;&nbsp;&nbsp;&nbsp;51 | 16 |
| 12-31-2023 | 24.61 | &nbsp;&nbsp;0.05 | &nbsp;&nbsp;7.84 | &nbsp;&nbsp;7.89 | (0.05) | (3.77) |  | (3.82) | 28.68 | &nbsp;&nbsp;35.10 | 0.97 | 0.96 | &nbsp;&nbsp;0.19 | &nbsp;&nbsp;&nbsp;&nbsp;48 | 16 |
| 12-31-2022 | 36.24 | &nbsp;&nbsp;0.01 | (8.81) | (8.80) | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>6</sup> | (2.83) |  | (2.83) | 24.61 | (24.43) | 0.96 | 0.96 | &nbsp;&nbsp;0.04 | &nbsp;&nbsp;&nbsp;&nbsp;41 | 29 |
| 12-31-2021 | 30.06 | (0.03) | &nbsp;&nbsp;9.10 | &nbsp;&nbsp;9.07 | &nbsp;&nbsp;&nbsp;&nbsp;— | (2.89) |  | (2.89) | 36.24 | &nbsp;&nbsp;30.34 | 0.96 | 0.95 | (0.09) | &nbsp;&nbsp;&nbsp;&nbsp;62 | 14 |
| 12-31-2020 | 24.49 | &nbsp;&nbsp;0.01 | &nbsp;&nbsp;6.40 | &nbsp;&nbsp;6.41 | (0.05) | (0.79) |  | (0.84) | 30.06 | &nbsp;&nbsp;26.65 | 0.96 | 0.96 | &nbsp;&nbsp;0.05 | &nbsp;&nbsp;&nbsp;&nbsp;51 | 19 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 06-30-2025<sup>3</sup> | 32.97 | &nbsp;&nbsp;0.12 | (0.25) | (0.13) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 32.84 | &nbsp;&nbsp;(0.39)<sup>4</sup> | 0.71<sup>5</sup> | 0.70<sup>5</sup> | &nbsp;&nbsp;0.75<sup>5</sup> | 2354 | 13 |
| 12-31-2024 | 29.09 | &nbsp;&nbsp;0.14 | &nbsp;&nbsp;6.83 | &nbsp;&nbsp;6.97 | (0.05) | (3.04) |  | (3.09) | 32.97 | &nbsp;&nbsp;24.24 | 0.71 | 0.70 | &nbsp;&nbsp;0.45 | 2485 | 16 |
| 12-31-2023 | 24.91 | &nbsp;&nbsp;0.12 | &nbsp;&nbsp;7.95 | &nbsp;&nbsp;8.07 | (0.12) | (3.77) |  | (3.89) | 29.09 | &nbsp;&nbsp;35.44 | 0.72 | 0.71 | &nbsp;&nbsp;0.44 | 2148 | 16 |
| 12-31-2022 | 36.66 | &nbsp;&nbsp;0.09 | (8.93) | (8.84) | (0.08) | (2.83) |  | (2.91) | 24.91 | (24.26) | 0.71 | 0.71 | &nbsp;&nbsp;0.29 | 1717 | 29 |
| 12-31-2021 | 30.34 | &nbsp;&nbsp;0.06 | &nbsp;&nbsp;9.21 | &nbsp;&nbsp;9.27 | (0.06) | (2.89) |  | (2.95) | 36.66 | &nbsp;&nbsp;30.68 | 0.71 | 0.70 | &nbsp;&nbsp;0.16 | 2457 | 14 |
| 12-31-2020 | 24.71 | &nbsp;&nbsp;0.08 | &nbsp;&nbsp;6.45 | &nbsp;&nbsp;6.53 | (0.11) | (0.79) |  | (0.90) | 30.34 | &nbsp;&nbsp;26.97 | 0.71 | 0.71 | &nbsp;&nbsp;0.30 | 2017 | 19 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Less than $0.005 per share.** |
| **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 06-30-2025<sup>3</sup> | 26.75 | &nbsp;&nbsp;0.20 | &nbsp;&nbsp;1.64 | &nbsp;&nbsp;1.84 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 28.59 | &nbsp;&nbsp;&nbsp;6.88<sup>4</sup> | 0.78<sup>5</sup> | 0.77<sup>5</sup> | &nbsp;&nbsp;1.47<sup>5</sup> | &nbsp;&nbsp;&nbsp;460 | &nbsp;&nbsp;6 |
| 12-31-2024 | 25.39 | &nbsp;&nbsp;0.30 | &nbsp;&nbsp;4.06 | &nbsp;&nbsp;4.36 | (0.09) | (2.91) |  | (3.00) | 26.75 | &nbsp;&nbsp;16.98 | 0.78 | 0.76 | &nbsp;&nbsp;1.06 | &nbsp;&nbsp;&nbsp;462 | 16 |
| 12-31-2023 | 22.62 | &nbsp;&nbsp;0.28 | &nbsp;&nbsp;4.68 | &nbsp;&nbsp;4.96 | (0.26) | (1.93) |  | (2.19) | 25.39 | &nbsp;&nbsp;23.45 | 0.79 | 0.77 | &nbsp;&nbsp;1.14 | &nbsp;&nbsp;&nbsp;447 | 13 |
| 12-31-2022 | 28.91 | &nbsp;&nbsp;0.26 | (2.73) | (2.47) | (0.29) | (3.53) |  | (3.82) | 22.62 | &nbsp;&nbsp;(7.95) | 0.78 | 0.77 | &nbsp;&nbsp;1.01 | &nbsp;&nbsp;&nbsp;408 | 21 |
| 12-31-2021 | 25.10 | &nbsp;&nbsp;0.22 | &nbsp;&nbsp;7.34 | &nbsp;&nbsp;7.56 | (0.24) | (3.51) |  | (3.75) | 28.91 | &nbsp;&nbsp;29.96 | 0.77 | 0.76 | &nbsp;&nbsp;0.75 | &nbsp;&nbsp;&nbsp;483 | 29 |
| 12-31-2020 | 23.13 | &nbsp;&nbsp;0.21 | &nbsp;&nbsp;2.44 | &nbsp;&nbsp;2.65 | (0.24) | (0.44) |  | (0.68) | 25.10 | &nbsp;&nbsp;11.96 | 0.79 | 0.78 | &nbsp;&nbsp;0.95 | &nbsp;&nbsp;&nbsp;391 | 44 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 06-30-2025<sup>3</sup> | 27.05 | &nbsp;&nbsp;0.17 | &nbsp;&nbsp;1.66 | &nbsp;&nbsp;1.83 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 28.88 | &nbsp;&nbsp;&nbsp;6.77<sup>4</sup> | 0.98<sup>5</sup> | 0.97<sup>5</sup> | &nbsp;&nbsp;1.27<sup>5</sup> | &nbsp;&nbsp;&nbsp;149 | &nbsp;&nbsp;6 |
| 12-31-2024 | 25.66 | &nbsp;&nbsp;0.24 | &nbsp;&nbsp;4.10 | &nbsp;&nbsp;4.34 | (0.04) | (2.91) |  | (2.95) | 27.05 | &nbsp;&nbsp;16.74 | 0.98 | 0.96 | &nbsp;&nbsp;0.86 | &nbsp;&nbsp;&nbsp;149 | 16 |
| 12-31-2023 | 22.84 | &nbsp;&nbsp;0.23 | &nbsp;&nbsp;4.74 | &nbsp;&nbsp;4.97 | (0.22) | (1.93) |  | (2.15) | 25.66 | &nbsp;&nbsp;23.22 | 0.99 | 0.97 | &nbsp;&nbsp;0.94 | &nbsp;&nbsp;&nbsp;150 | 13 |
| 12-31-2022 | 29.14 | &nbsp;&nbsp;0.21 | (2.74) | (2.53) | (0.24) | (3.53) |  | (3.77) | 22.84 | &nbsp;&nbsp;(8.13) | 0.98 | 0.97 | &nbsp;&nbsp;0.81 | &nbsp;&nbsp;&nbsp;143 | 21 |
| 12-31-2021 | 25.28 | &nbsp;&nbsp;0.16 | &nbsp;&nbsp;7.39 | &nbsp;&nbsp;7.55 | (0.18) | (3.51) |  | (3.69) | 29.14 | &nbsp;&nbsp;29.72 | 0.97 | 0.96 | &nbsp;&nbsp;0.55 | &nbsp;&nbsp;&nbsp;177 | 29 |
| 12-31-2020 | 23.29 | &nbsp;&nbsp;0.16 | &nbsp;&nbsp;2.47 | &nbsp;&nbsp;2.63 | (0.20) | (0.44) |  | (0.64) | 25.28 | &nbsp;&nbsp;11.75 | 0.99 | 0.98 | &nbsp;&nbsp;0.75 | &nbsp;&nbsp;&nbsp;160 | 44 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 06-30-2025<sup>3</sup> | 26.77 | &nbsp;&nbsp;0.20 | &nbsp;&nbsp;1.65 | &nbsp;&nbsp;1.85 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 28.62 | &nbsp;&nbsp;&nbsp;6.91<sup>4</sup> | 0.73<sup>5</sup> | 0.72<sup>5</sup> | &nbsp;&nbsp;1.53<sup>5</sup> | &nbsp;&nbsp;&nbsp;207 | &nbsp;&nbsp;6 |
| 12-31-2024 | 25.41 | &nbsp;&nbsp;0.31 | &nbsp;&nbsp;4.06 | &nbsp;&nbsp;4.37 | (0.10) | (2.91) |  | (3.01) | 26.77 | &nbsp;&nbsp;17.02 | 0.73 | 0.71 | &nbsp;&nbsp;1.10 | &nbsp;&nbsp;&nbsp;211 | 16 |
| 12-31-2023 | 22.64 | &nbsp;&nbsp;0.29 | &nbsp;&nbsp;4.68 | &nbsp;&nbsp;4.97 | (0.27) | (1.93) |  | (2.20) | 25.41 | &nbsp;&nbsp;23.49 | 0.74 | 0.72 | &nbsp;&nbsp;1.19 | &nbsp;&nbsp;&nbsp;176 | 13 |
| 12-31-2022 | 28.92 | &nbsp;&nbsp;0.28 | (2.72) | (2.44) | (0.31) | (3.53) |  | (3.84) | 22.64 | &nbsp;&nbsp;(7.86) | 0.73 | 0.72 | &nbsp;&nbsp;1.06 | &nbsp;&nbsp;&nbsp;163 | 21 |
| 12-31-2021 | 25.11 | &nbsp;&nbsp;0.23 | &nbsp;&nbsp;7.34 | &nbsp;&nbsp;7.57 | (0.25) | (3.51) |  | (3.76) | 28.92 | &nbsp;&nbsp;30.00 | 0.72 | 0.71 | &nbsp;&nbsp;0.79 | &nbsp;&nbsp;&nbsp;163 | 29 |
| 12-31-2020 | 23.14 | &nbsp;&nbsp;0.21 | &nbsp;&nbsp;2.45 | &nbsp;&nbsp;2.66 | (0.25) | (0.44) |  | (0.69) | 25.11 | &nbsp;&nbsp;12.01 | 0.74 | 0.73 | &nbsp;&nbsp;0.99 | &nbsp;&nbsp;&nbsp;125 | 44 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** |

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|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 201 |

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[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

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| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period |  | Ratios and supplemental data | Ratios and supplemental data | Ratios and supplemental data |
|  |  | **Income (loss) from investment operations** | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period<br> ($) | Net<br> investment<br> income<br> (loss)<br> ($)<sup>1</sup> | Net<br> realized<br> and<br> unrealized<br> gain<br> (loss)<br> on investments<br> ($) | Total<br> from<br> investment<br> operations<br> ($) | From net<br> investment<br> income<br> ($) | From net<br> realized<br> gain<br> ($) | From tax<br> return<br> of capital<br> ($) | Total<br> distributions<br> ($) | Net asset<br> value, end<br> of period<br> ($) | Total<br> return<br> (%)<sup>2</sup> | Expenses<br> before<br> reductions<br> (%) | Expenses<br> including<br> reductions<br> (%) | Net<br> investment<br> income<br> (loss)<br> (%) | Net<br> assets,<br> end of<br> period (in<br> millions) | Portfolio<br> turnover<br> (%) |
| **Global Equity Trust** | **Global Equity Trust** | **Global Equity Trust** | **Global Equity Trust** | **Global Equity Trust** | **Global Equity Trust** | **Global Equity Trust** | **Global Equity Trust** | **Global Equity Trust** | **Global Equity Trust** | **Global Equity Trust** | **Global Equity Trust** | **Global Equity Trust** | **Global Equity Trust** | **Global Equity Trust** | **Global Equity Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 06-30-2025<sup>3</sup> | 23.22 | &nbsp;&nbsp;0.17 | &nbsp;&nbsp;1.99 | &nbsp;&nbsp;2.16 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 25.38 | &nbsp;&nbsp;&nbsp;9.30<sup>4</sup> | 0.94<sup>5</sup> | 0.93<sup>5</sup> | &nbsp;&nbsp;1.39<sup>5</sup> | 220 | &nbsp;&nbsp;22 |
| 12-31-2024 | 22.37 | &nbsp;&nbsp;0.29 | &nbsp;&nbsp;2.09 | &nbsp;&nbsp;2.38 | (0.29) | (1.24) | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.53) | 23.22 | &nbsp;&nbsp;10.47 | 0.94 | 0.93 | &nbsp;&nbsp;1.21 | 220 | &nbsp;&nbsp;47 |
| 12-31-2023 | 19.49 | &nbsp;&nbsp;0.26 | &nbsp;&nbsp;3.55 | &nbsp;&nbsp;3.81 | (0.17) | (0.76) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.93) | 22.37 | &nbsp;&nbsp;20.09 | 0.95 | 0.94 | &nbsp;&nbsp;1.24 | 225 | &nbsp;&nbsp;38 |
| 12-31-2022 | 25.34 | &nbsp;&nbsp;0.31 | (4.12) | (3.81) | (0.61) | (1.43) | &nbsp;&nbsp;&nbsp;&nbsp;— | (2.04) | 19.49 | (14.84) | 0.94 | 0.93 | &nbsp;&nbsp;1.40 | 212 | &nbsp;&nbsp;61 |
| 12-31-2021 | 20.89 | &nbsp;&nbsp;0.39 | &nbsp;&nbsp;4.06 | &nbsp;&nbsp;4.45 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 25.34 | &nbsp;&nbsp;21.30 | 0.93 | 0.92 | &nbsp;&nbsp;1.68 | 277 | &nbsp;&nbsp;64 |
| 12-31-2020 | 20.04 | &nbsp;&nbsp;0.18 | &nbsp;&nbsp;1.09 | &nbsp;&nbsp;1.27 | (0.23) | (0.17) | (0.02) | (0.42) | 20.89 | &nbsp;&nbsp;&nbsp;6.60 | 1.06 | 1.05 | &nbsp;&nbsp;0.96 | 265 | 120<sup>67</sup> |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 06-30-2025<sup>3</sup> | 23.02 | &nbsp;&nbsp;0.14 | &nbsp;&nbsp;1.98 | &nbsp;&nbsp;2.12 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 25.14 | &nbsp;&nbsp;&nbsp;9.21<sup>4</sup> | 1.14<sup>5</sup> | 1.13<sup>5</sup> | &nbsp;&nbsp;1.20<sup>5</sup> | &nbsp;&nbsp;21 | &nbsp;&nbsp;22 |
| 12-31-2024 | 22.19 | &nbsp;&nbsp;0.24 | &nbsp;&nbsp;2.08 | &nbsp;&nbsp;2.32 | (0.25) | (1.24) | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.49) | 23.02 | &nbsp;&nbsp;10.28 | 1.14 | 1.13 | &nbsp;&nbsp;1.01 | &nbsp;&nbsp;21 | &nbsp;&nbsp;47 |
| 12-31-2023 | 19.35 | &nbsp;&nbsp;0.22 | &nbsp;&nbsp;3.52 | &nbsp;&nbsp;3.74 | (0.14) | (0.76) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.90) | 22.19 | &nbsp;&nbsp;19.81 | 1.15 | 1.14 | &nbsp;&nbsp;1.04 | &nbsp;&nbsp;22 | &nbsp;&nbsp;38 |
| 12-31-2022 | 25.17 | &nbsp;&nbsp;0.26 | (4.09) | (3.83) | (0.56) | (1.43) | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.99) | 19.35 | (15.01) | 1.14 | 1.13 | &nbsp;&nbsp;1.20 | &nbsp;&nbsp;21 | &nbsp;&nbsp;61 |
| 12-31-2021 | 20.79 | &nbsp;&nbsp;0.34 | &nbsp;&nbsp;4.04 | &nbsp;&nbsp;4.38 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 25.17 | &nbsp;&nbsp;21.01 | 1.13 | 1.12 | &nbsp;&nbsp;1.46 | &nbsp;&nbsp;29 | &nbsp;&nbsp;64 |
| 12-31-2020 | 19.95 | &nbsp;&nbsp;0.18 | &nbsp;&nbsp;1.04 | &nbsp;&nbsp;1.22 | (0.19) | (0.17) | (0.02) | (0.38) | 20.79 | &nbsp;&nbsp;&nbsp;6.42 | 1.26 | 1.25 | &nbsp;&nbsp;0.96 | &nbsp;&nbsp;27 | 120<sup>67</sup> |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 06-30-2025<sup>3</sup> | 23.20 | &nbsp;&nbsp;0.17 | &nbsp;&nbsp;1.99 | &nbsp;&nbsp;2.16 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 25.36 | &nbsp;&nbsp;&nbsp;9.31<sup>4</sup> | 0.89<sup>5</sup> | 0.88<sup>5</sup> | &nbsp;&nbsp;1.45<sup>5</sup> | &nbsp;&nbsp;56 | &nbsp;&nbsp;22 |
| 12-31-2024 | 22.35 | &nbsp;&nbsp;0.30 | &nbsp;&nbsp;2.09 | &nbsp;&nbsp;2.39 | (0.30) | (1.24) | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.54) | 23.20 | &nbsp;&nbsp;10.53 | 0.89 | 0.88 | &nbsp;&nbsp;1.26 | &nbsp;&nbsp;54 | &nbsp;&nbsp;47 |
| 12-31-2023 | 19.47 | &nbsp;&nbsp;0.27 | &nbsp;&nbsp;3.55 | &nbsp;&nbsp;3.82 | (0.18) | (0.76) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.94) | 22.35 | &nbsp;&nbsp;20.17 | 0.90 | 0.89 | &nbsp;&nbsp;1.28 | &nbsp;&nbsp;49 | &nbsp;&nbsp;38 |
| 12-31-2022 | 25.32 | &nbsp;&nbsp;0.32 | (4.12) | (3.80) | (0.62) | (1.43) | &nbsp;&nbsp;&nbsp;&nbsp;— | (2.05) | 19.47 | (14.81) | 0.89 | 0.88 | &nbsp;&nbsp;1.45 | &nbsp;&nbsp;42 | &nbsp;&nbsp;61 |
| 12-31-2021 | 20.87 | &nbsp;&nbsp;0.39 | &nbsp;&nbsp;4.06 | &nbsp;&nbsp;4.45 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 25.32 | &nbsp;&nbsp;21.32 | 0.88 | 0.87 | &nbsp;&nbsp;1.69 | &nbsp;&nbsp;51 | &nbsp;&nbsp;64 |
| 12-31-2020 | 20.01 | &nbsp;&nbsp;0.22 | &nbsp;&nbsp;1.07 | &nbsp;&nbsp;1.29 | (0.24) | (0.17) | (0.02) | (0.43) | 20.87 | &nbsp;&nbsp;&nbsp;6.71 | 1.01 | 1.00 | &nbsp;&nbsp;1.20 | &nbsp;&nbsp;44 | 120<sup>67</sup> |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. 7 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. 7 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. 7 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. 7 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. 7 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. 7 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. 7 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. 7 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. 7 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. 7 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. 7 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. 7 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. 7 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. 7 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. 7 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. 7 Excludes merger activity.** |
| **Health Sciences Trust** | **Health Sciences Trust** | **Health Sciences Trust** | **Health Sciences Trust** | **Health Sciences Trust** | **Health Sciences Trust** | **Health Sciences Trust** | **Health Sciences Trust** | **Health Sciences Trust** | **Health Sciences Trust** | **Health Sciences Trust** | **Health Sciences Trust** | **Health Sciences Trust** | **Health Sciences Trust** | **Health Sciences Trust** | **Health Sciences Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 06-30-2025<sup>3</sup> | 22.30 | (0.02) | (0.64) | (0.66) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 21.64 | &nbsp;&nbsp;(2.96)<sup>4</sup> | 0.99<sup>5</sup> | 0.95<sup>5</sup> | (0.18)<sup>5</sup> | &nbsp;&nbsp;40 | &nbsp;&nbsp;25 |
| 12-31-2024 | 23.45 | (0.08) | &nbsp;&nbsp;0.64 | &nbsp;&nbsp;0.56 | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.71) | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.71) | 22.30 | &nbsp;&nbsp;&nbsp;1.78 | 1.00 | 0.94 | (0.32) | &nbsp;&nbsp;48 | &nbsp;&nbsp;44 |
| 12-31-2023 | 23.84 | (0.06) | &nbsp;&nbsp;0.93 | &nbsp;&nbsp;0.87 | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.26) | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.26) | 23.45 | &nbsp;&nbsp;&nbsp;4.25 | 1.06 | 1.00 | (0.26) | &nbsp;&nbsp;58 | &nbsp;&nbsp;43 |
| 12-31-2022 | 31.29 | (0.07) | (4.14) | (4.21) | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.24) | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.24) | 23.84 | (13.09) | 1.06 | 1.01 | (0.29) | &nbsp;&nbsp;65 | &nbsp;&nbsp;24 |
| 12-31-2021 | 31.07 | (0.15) | &nbsp;&nbsp;3.67 | &nbsp;&nbsp;3.52 | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.30) | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.30) | 31.29 | &nbsp;&nbsp;11.19 | 1.08 | 1.03 | (0.47) | &nbsp;&nbsp;80 | &nbsp;&nbsp;29 |
| 12-31-2020 | 27.18 | (0.09) | &nbsp;&nbsp;7.18 | &nbsp;&nbsp;7.09 | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.20) | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.20) | 31.07 | &nbsp;&nbsp;27.17 | 1.15 | 1.09 | (0.32) | &nbsp;&nbsp;80 | &nbsp;&nbsp;38 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 06-30-2025<sup>3</sup> | 18.92 | (0.04) | (0.55) | (0.59) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 18.33 | &nbsp;&nbsp;(3.12)<sup>4</sup> | 1.19<sup>5</sup> | 1.15<sup>5</sup> | (0.38)<sup>5</sup> | &nbsp;&nbsp;38 | &nbsp;&nbsp;25 |
| 12-31-2024 | 20.16 | (0.11) | &nbsp;&nbsp;0.58 | &nbsp;&nbsp;0.47 | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.71) | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.71) | 18.92 | &nbsp;&nbsp;&nbsp;1.62 | 1.20 | 1.14 | (0.52) | &nbsp;&nbsp;43 | &nbsp;&nbsp;44 |
| 12-31-2023 | 20.73 | (0.09) | &nbsp;&nbsp;0.78 | &nbsp;&nbsp;0.69 | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.26) | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.26) | 20.16 | &nbsp;&nbsp;&nbsp;4.02 | 1.26 | 1.20 | (0.46) | &nbsp;&nbsp;50 | &nbsp;&nbsp;43 |
| 12-31-2022 | 27.76 | (0.11) | (3.68) | (3.79) | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.24) | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.24) | 20.73 | (13.24) | 1.26 | 1.21 | (0.49) | &nbsp;&nbsp;56 | &nbsp;&nbsp;24 |
| 12-31-2021 | 27.95 | (0.19) | &nbsp;&nbsp;3.30 | &nbsp;&nbsp;3.11 | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.30) | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.30) | 27.76 | &nbsp;&nbsp;10.97 | 1.28 | 1.23 | (0.67) | &nbsp;&nbsp;75 | &nbsp;&nbsp;29 |
| 12-31-2020 | 24.78 | (0.13) | &nbsp;&nbsp;6.50 | &nbsp;&nbsp;6.37 | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.20) | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.20) | 27.95 | &nbsp;&nbsp;26.89 | 1.35 | 1.29 | (0.52) | &nbsp;&nbsp;84 | &nbsp;&nbsp;38 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 06-30-2025<sup>3</sup> | 22.98 | (0.02) | (0.66) | (0.68) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 22.30 | &nbsp;&nbsp;(2.96)<sup>4</sup> | 0.94<sup>5</sup> | 0.90<sup>5</sup> | (0.12)<sup>5</sup> | 132 | &nbsp;&nbsp;25 |
| 12-31-2024 | 24.10 | (0.07) | &nbsp;&nbsp;0.66 | &nbsp;&nbsp;0.59 | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.71) | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.71) | 22.98 | &nbsp;&nbsp;&nbsp;1.86 | 0.95 | 0.89 | (0.27) | 145 | &nbsp;&nbsp;44 |
| 12-31-2023 | 24.46 | (0.05) | &nbsp;&nbsp;0.95 | &nbsp;&nbsp;0.90 | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.26) | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.26) | 24.10 | &nbsp;&nbsp;&nbsp;4.26 | 1.01 | 0.95 | (0.20) | 155 | &nbsp;&nbsp;43 |
| 12-31-2022 | 31.98 | (0.06) | (4.22) | (4.28) | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.24) | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.24) | 24.46 | (13.02) | 1.01 | 0.96 | (0.23) | 157 | &nbsp;&nbsp;24 |
| 12-31-2021 | 31.68 | (0.14) | &nbsp;&nbsp;3.74 | &nbsp;&nbsp;3.60 | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.30) | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.30) | 31.98 | &nbsp;&nbsp;11.23 | 1.03 | 0.98 | (0.42) | 183 | &nbsp;&nbsp;29 |
| 12-31-2020 | 27.64 | (0.08) | &nbsp;&nbsp;7.32 | &nbsp;&nbsp;7.24 | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.20) | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.20) | 31.68 | &nbsp;&nbsp;27.26 | 1.10 | 1.04 | (0.27) | 162 | &nbsp;&nbsp;38 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** |

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|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 202 |

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[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

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| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period |  | Ratios and supplemental data | Ratios and supplemental data | Ratios and supplemental data |
|  |  | **Income (loss) from investment operations** | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period<br> ($) | Net<br> investment<br> income<br> (loss)<br> ($)<sup>1</sup> | Net<br> realized<br> and<br> unrealized<br> gain<br> (loss)<br> on investments<br> ($) | Total<br> from<br> investment<br> operations<br> ($) | From net<br> investment<br> income<br> ($) | From net<br> realized<br> gain<br> ($) | From tax<br> return<br> of capital<br> ($) | Total<br> distributions<br> ($) | Net asset<br> value, end<br> of period<br> ($) | Total<br> return<br> (%)<sup>2</sup> | Expenses<br> before<br> reductions<br> (%) | Expenses<br> including<br> reductions<br> (%) | Net<br> investment<br> income<br> (loss)<br> (%) | Net<br> assets,<br> end of<br> period (in<br> millions) | Portfolio<br> turnover<br> (%) |
| **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 06-30-2025<sup>3</sup> | 18.93 | 0.32 | &nbsp;&nbsp;3.22 | &nbsp;&nbsp;3.54 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 22.47 | &nbsp;&nbsp;18.70<sup>4</sup> | 0.68<sup>5</sup> | 0.40<sup>5</sup> | 3.14<sup>5</sup> | 366 | &nbsp;&nbsp;2 |
| 12-31-2024 | 18.34 | 0.47 | &nbsp;&nbsp;0.43 | &nbsp;&nbsp;0.90 | (0.31) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.31) | 18.93 | &nbsp;&nbsp;&nbsp;4.91 | 0.67 | 0.39 | 2.43 | 307 | &nbsp;&nbsp;3 |
| 12-31-2023 | 16.31 | 0.45 | &nbsp;&nbsp;2.01 | &nbsp;&nbsp;2.46 | (0.43) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.43) | 18.34 | &nbsp;&nbsp;15.36 | 0.66 | 0.39 | 2.59 | 326 | &nbsp;&nbsp;4 |
| 12-31-2022 | 20.25 | 0.48 | (3.84) | (3.36) | (0.50) | (0.08) |  | (0.58) | 16.31 | (16.25) | 0.67 | 0.39 | 2.77 | 294 | &nbsp;&nbsp;6 |
| 12-31-2021 | 19.55 | 0.48 | &nbsp;&nbsp;1.02 | &nbsp;&nbsp;1.50 | (0.55) | (0.25) |  | (0.80) | 20.25 | &nbsp;&nbsp;&nbsp;7.59 | 0.65 | 0.39 | 2.29 | 371 | &nbsp;&nbsp;5 |
| 12-31-2020 | 18.30 | 0.35 | &nbsp;&nbsp;1.51 | &nbsp;&nbsp;1.86 | (0.44) | (0.17) |  | (0.61) | 19.55 | &nbsp;&nbsp;10.64 | 0.66 | 0.39 | 2.07 | 361 | &nbsp;&nbsp;5 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 06-30-2025<sup>3</sup> | 18.95 | 0.30 | &nbsp;&nbsp;3.23 | &nbsp;&nbsp;3.53 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 22.48 | &nbsp;&nbsp;18.63<sup>4</sup> | 0.88<sup>5</sup> | 0.60<sup>5</sup> | 2.93<sup>5</sup> | &nbsp;&nbsp;19 | &nbsp;&nbsp;2 |
| 12-31-2024 | 18.37 | 0.43 | &nbsp;&nbsp;0.43 | &nbsp;&nbsp;0.86 | (0.28) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.28) | 18.95 | &nbsp;&nbsp;&nbsp;4.62 | 0.87 | 0.59 | 2.25 | &nbsp;&nbsp;17 | &nbsp;&nbsp;3 |
| 12-31-2023 | 16.34 | 0.42 | &nbsp;&nbsp;2.01 | &nbsp;&nbsp;2.43 | (0.40) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.40) | 18.37 | &nbsp;&nbsp;15.18 | 0.86 | 0.59 | 2.38 | &nbsp;&nbsp;19 | &nbsp;&nbsp;4 |
| 12-31-2022 | 20.27 | 0.44 | (3.82) | (3.38) | (0.47) | (0.08) |  | (0.55) | 16.34 | (16.39) | 0.87 | 0.59 | 2.55 | &nbsp;&nbsp;17 | &nbsp;&nbsp;6 |
| 12-31-2021 | 19.58 | 0.43 | &nbsp;&nbsp;1.02 | &nbsp;&nbsp;1.45 | (0.51) | (0.25) |  | (0.76) | 20.27 | &nbsp;&nbsp;&nbsp;7.33 | 0.85 | 0.59 | 2.09 | &nbsp;&nbsp;23 | &nbsp;&nbsp;5 |
| 12-31-2020 | 18.32 | 0.32 | &nbsp;&nbsp;1.51 | &nbsp;&nbsp;1.83 | (0.40) | (0.17) |  | (0.57) | 19.58 | &nbsp;&nbsp;10.48 | 0.86 | 0.59 | 1.87 | &nbsp;&nbsp;23 | &nbsp;&nbsp;5 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 06-30-2025<sup>3</sup> | 18.92 | 0.33 | &nbsp;&nbsp;3.22 | &nbsp;&nbsp;3.55 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 22.47 | &nbsp;&nbsp;18.76<sup>4</sup> | 0.63<sup>5</sup> | 0.35<sup>5</sup> | 3.23<sup>5</sup> | 689 | &nbsp;&nbsp;2 |
| 12-31-2024 | 18.33 | 0.48 | &nbsp;&nbsp;0.43 | &nbsp;&nbsp;0.91 | (0.32) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.32) | 18.92 | &nbsp;&nbsp;&nbsp;4.90 | 0.62 | 0.34 | 2.47 | 575 | &nbsp;&nbsp;3 |
| 12-31-2023 | 16.31 | 0.46 | &nbsp;&nbsp;2.00 | &nbsp;&nbsp;2.46 | (0.44) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.44) | 18.33 | &nbsp;&nbsp;15.42 | 0.61 | 0.34 | 2.64 | 541 | &nbsp;&nbsp;4 |
| 12-31-2022 | 20.24 | 0.49 | (3.83) | (3.34) | (0.51) | (0.08) |  | (0.59) | 16.31 | (16.16) | 0.62 | 0.34 | 2.84 | 468 | &nbsp;&nbsp;6 |
| 12-31-2021 | 19.55 | 0.48 | &nbsp;&nbsp;1.02 | &nbsp;&nbsp;1.50 | (0.56) | (0.25) |  | (0.81) | 20.24 | &nbsp;&nbsp;&nbsp;7.59 | 0.60 | 0.34 | 2.33 | 535 | &nbsp;&nbsp;5 |
| 12-31-2020 | 18.29 | 0.36 | &nbsp;&nbsp;1.51 | &nbsp;&nbsp;1.87 | (0.44) | (0.17) |  | (0.61) | 19.55 | &nbsp;&nbsp;10.76 | 0.61 | 0.34 | 2.11 | 484 | &nbsp;&nbsp;5 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** |
| **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 06-30-2025<sup>3</sup> | 12.63 | 0.22 | &nbsp;&nbsp;2.66 | &nbsp;&nbsp;2.88 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 15.51 | &nbsp;&nbsp;22.80<sup>4</sup> | 1.05<sup>5</sup> | 1.05<sup>5</sup> | 3.28<sup>5</sup> | &nbsp;&nbsp;21 | &nbsp;&nbsp;7 |
| 12-31-2024 | 12.69 | 0.25 | &nbsp;&nbsp;0.16 | &nbsp;&nbsp;0.41 | (0.37) | (0.10) |  | (0.47) | 12.63 | &nbsp;&nbsp;&nbsp;3.07 | 1.06 | 1.06 | 1.95 | &nbsp;&nbsp;18 | 13 |
| 12-31-2023 | 11.72 | 0.25 | &nbsp;&nbsp;1.24 | &nbsp;&nbsp;1.49 | (0.25) | (0.27) |  | (0.52) | 12.69 | &nbsp;&nbsp;13.44 | 1.06 | 1.05 | 2.02 | &nbsp;&nbsp;19 | 11 |
| 12-31-2022 | 16.08 | 0.25 | (3.32) | (3.07) | (0.26) | (1.03) |  | (1.29) | 11.72 | (18.17) | 1.08 | 1.08 | 1.92 | &nbsp;&nbsp;19 | 20 |
| 12-31-2021 | 14.73 | 0.21 | &nbsp;&nbsp;1.82 | &nbsp;&nbsp;2.03 | (0.21) | (0.47) |  | (0.68) | 16.08 | &nbsp;&nbsp;13.72 | 1.08 | 1.07 | 1.31 | &nbsp;&nbsp;26 | 23 |
| 12-31-2020 | 14.38 | 0.15 | &nbsp;&nbsp;0.93 | &nbsp;&nbsp;1.08 | (0.28) | (0.45) |  | (0.73) | 14.73 | &nbsp;&nbsp;&nbsp;8.37 | 1.23 | 1.22 | 1.20 | &nbsp;&nbsp;27 | 14 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 06-30-2025<sup>3</sup> | 12.61 | 0.21 | &nbsp;&nbsp;2.64 | &nbsp;&nbsp;2.85 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 15.46 | &nbsp;&nbsp;22.60<sup>4</sup> | 1.25<sup>5</sup> | 1.25<sup>5</sup> | 3.08<sup>5</sup> | &nbsp;&nbsp;14 | &nbsp;&nbsp;7 |
| 12-31-2024 | 12.68 | 0.23 | &nbsp;&nbsp;0.14 | &nbsp;&nbsp;0.37 | (0.34) | (0.10) |  | (0.44) | 12.61 | &nbsp;&nbsp;&nbsp;2.82 | 1.26 | 1.26 | 1.75 | &nbsp;&nbsp;12 | 13 |
| 12-31-2023 | 11.70 | 0.22 | &nbsp;&nbsp;1.26 | &nbsp;&nbsp;1.48 | (0.23) | (0.27) |  | (0.50) | 12.68 | &nbsp;&nbsp;13.33 | 1.26 | 1.25 | 1.82 | &nbsp;&nbsp;13 | 11 |
| 12-31-2022 | 16.05 | 0.22 | (3.31) | (3.09) | (0.23) | (1.03) |  | (1.26) | 11.70 | (18.35) | 1.28 | 1.28 | 1.70 | &nbsp;&nbsp;12 | 20 |
| 12-31-2021 | 14.71 | 0.18 | &nbsp;&nbsp;1.81 | &nbsp;&nbsp;1.99 | (0.18) | (0.47) |  | (0.65) | 16.05 | &nbsp;&nbsp;13.47 | 1.28 | 1.27 | 1.12 | &nbsp;&nbsp;15 | 23 |
| 12-31-2020 | 14.36 | 0.13 | &nbsp;&nbsp;0.92 | &nbsp;&nbsp;1.05 | (0.25) | (0.45) |  | (0.70) | 14.71 | &nbsp;&nbsp;&nbsp;8.17 | 1.43 | 1.42 | 0.99 | &nbsp;&nbsp;15 | 14 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 06-30-2025<sup>3</sup> | 12.64 | 0.22 | &nbsp;&nbsp;2.66 | &nbsp;&nbsp;2.88 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 15.52 | &nbsp;&nbsp;22.78<sup>4</sup> | 1.00<sup>5</sup> | 1.00<sup>5</sup> | 3.28<sup>5</sup> | &nbsp;&nbsp;71 | &nbsp;&nbsp;7 |
| 12-31-2024 | 12.70 | 0.26 | &nbsp;&nbsp;0.15 | &nbsp;&nbsp;0.41 | (0.37) | (0.10) |  | (0.47) | 12.64 | &nbsp;&nbsp;&nbsp;3.11 | 1.01 | 1.01 | 2.00 | &nbsp;&nbsp;65 | 13 |
| 12-31-2023 | 11.72 | 0.25 | &nbsp;&nbsp;1.25 | &nbsp;&nbsp;1.50 | (0.25) | (0.27) |  | (0.52) | 12.70 | &nbsp;&nbsp;13.59 | 1.01 | 1.00 | 2.06 | &nbsp;&nbsp;75 | 11 |
| 12-31-2022 | 16.09 | 0.26 | (3.33) | (3.07) | (0.27) | (1.03) |  | (1.30) | 11.72 | (18.17) | 1.03 | 1.03 | 1.96 | &nbsp;&nbsp;68 | 20 |
| 12-31-2021 | 14.74 | 0.22 | &nbsp;&nbsp;1.82 | &nbsp;&nbsp;2.04 | (0.22) | (0.47) |  | (0.69) | 16.09 | &nbsp;&nbsp;13.77 | 1.03 | 1.02 | 1.37 | &nbsp;&nbsp;88 | 23 |
| 12-31-2020 | 14.39 | 0.16 | &nbsp;&nbsp;0.92 | &nbsp;&nbsp;1.08 | (0.28) | (0.45) |  | (0.73) | 14.74 | &nbsp;&nbsp;&nbsp;8.41 | 1.18 | 1.17 | 1.25 | &nbsp;&nbsp;75 | 14 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** |

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|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 203 |

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[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

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| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period |  | Ratios and supplemental data | Ratios and supplemental data | Ratios and supplemental data |
|  |  | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period<br> ($) Net<br> investment<br> income<br> (loss)<br> ($)<sup>1</sup> | Net<br> realized<br> and<br> unrealized<br> gain<br> (loss)<br> on investments<br> ($) | Total<br> from<br> investment<br> operations<br> ($) | From net<br> investment<br> income<br> ($) | From net<br> realized<br> gain<br> ($) | From tax<br> return<br> of capital<br> ($) | Total<br> distributions<br> ($) | Net asset<br> value, end<br> of period<br> ($) | Total<br> return<br> (%)<sup>2</sup> | Expenses<br> before<br> reductions<br> (%) | Expenses<br> including<br> reductions<br> (%) | Net<br> investment<br> income<br> (loss)<br> (%) | Net<br> assets,<br> end of<br> period (in<br> millions) | Portfolio<br> turnover<br> (%) |
| **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 06-30-2025<sup>3</sup> | 13.06 (0.01)<sup>4</sup> | &nbsp;&nbsp;0.92 | &nbsp;&nbsp;0.91 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 13.97 | &nbsp;&nbsp;&nbsp;6.97<sup>5</sup> | 0.13<sup>67</sup> | 0.12<sup>67</sup> | (0.12)<sup>46</sup> | &nbsp;&nbsp;36 | &nbsp;&nbsp;1 |
| 12-31-2024 | 12.65 &nbsp;&nbsp;0.31<sup>4</sup> | &nbsp;&nbsp;0.77 | &nbsp;&nbsp;1.08 | (0.31) | (0.36) |  | (0.67) | 13.06 | &nbsp;&nbsp;&nbsp;8.52 | 0.13<sup>7</sup> | 0.12<sup>7</sup> | &nbsp;&nbsp;2.35<sup>4</sup> | &nbsp;&nbsp;37 | 13 |
| 12-31-2023 | 12.55 &nbsp;&nbsp;0.31<sup>4</sup> | &nbsp;&nbsp;1.28 | &nbsp;&nbsp;1.59 | (0.29) | (1.20) |  | (1.49) | 12.65 | &nbsp;&nbsp;13.74 | 0.13<sup>7</sup> | 0.13<sup>7</sup> | &nbsp;&nbsp;2.39<sup>4</sup> | &nbsp;&nbsp;38 | &nbsp;&nbsp;9 |
| 12-31-2022 | 16.79 &nbsp;&nbsp;0.31<sup>4</sup> | (2.95) | (2.64) | (0.30) | (1.30) |  | (1.60) | 12.55 | (15.45) | 0.12<sup>7</sup> | 0.12<sup>7</sup> | &nbsp;&nbsp;2.11<sup>4</sup> | &nbsp;&nbsp;32 | 15 |
| 12-31-2021 | 16.40 &nbsp;&nbsp;0.37<sup>4</sup> | &nbsp;&nbsp;1.17 | &nbsp;&nbsp;1.54 | (0.37) | (0.78) |  | (1.15) | 16.79 | &nbsp;&nbsp;&nbsp;9.44 | 0.12<sup>7</sup> | 0.11<sup>7</sup> | &nbsp;&nbsp;2.18<sup>4</sup> | &nbsp;&nbsp;42 | 10 |
| 12-31-2020 | 15.43 &nbsp;&nbsp;0.38<sup>4</sup> | &nbsp;&nbsp;1.53 | &nbsp;&nbsp;1.91 | (0.37) | (0.57) |  | (0.94) | 16.40 | &nbsp;&nbsp;12.69 | 0.12<sup>7</sup> | 0.12<sup>7</sup> | &nbsp;&nbsp;2.45<sup>4</sup> | &nbsp;&nbsp;41 | 15 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 06-30-2025<sup>3</sup> | 13.10 (0.02)<sup>4</sup> | &nbsp;&nbsp;0.91 | &nbsp;&nbsp;0.89 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 13.99 | &nbsp;&nbsp;&nbsp;6.79<sup>5</sup> | 0.33<sup>67</sup> | 0.32<sup>67</sup> | (0.32)<sup>46</sup> | 732 | &nbsp;&nbsp;1 |
| 12-31-2024 | 12.68 &nbsp;&nbsp;0.29<sup>4</sup> | &nbsp;&nbsp;0.77 | &nbsp;&nbsp;1.06 | (0.28) | (0.36) |  | (0.64) | 13.10 | &nbsp;&nbsp;&nbsp;8.37 | 0.33<sup>7</sup> | 0.32<sup>7</sup> | &nbsp;&nbsp;2.16<sup>4</sup> | 735 | 13 |
| 12-31-2023 | 12.58 &nbsp;&nbsp;0.27<sup>4</sup> | &nbsp;&nbsp;1.29 | &nbsp;&nbsp;1.56 | (0.26) | (1.20) |  | (1.46) | 12.68 | &nbsp;&nbsp;13.50 | 0.33<sup>7</sup> | 0.33<sup>7</sup> | &nbsp;&nbsp;2.06<sup>4</sup> | 772 | &nbsp;&nbsp;9 |
| 12-31-2022 | 16.82 &nbsp;&nbsp;0.27<sup>4</sup> | (2.94) | (2.67) | (0.27) | (1.30) |  | (1.57) | 12.58 | (15.60) | 0.32<sup>7</sup> | 0.32<sup>7</sup> | &nbsp;&nbsp;1.87<sup>4</sup> | 730 | 15 |
| 12-31-2021 | 16.43 &nbsp;&nbsp;0.34<sup>4</sup> | &nbsp;&nbsp;1.17 | &nbsp;&nbsp;1.51 | (0.34) | (0.78) |  | (1.12) | 16.82 | &nbsp;&nbsp;&nbsp;9.21 | 0.32<sup>7</sup> | 0.31<sup>7</sup> | &nbsp;&nbsp;1.98<sup>4</sup> | 997 | 10 |
| 12-31-2020 | 15.46 &nbsp;&nbsp;0.35<sup>4</sup> | &nbsp;&nbsp;1.53 | &nbsp;&nbsp;1.88 | (0.34) | (0.57) |  | (0.91) | 16.43 | &nbsp;&nbsp;12.47 | 0.32<sup>7</sup> | 0.32<sup>7</sup> | &nbsp;&nbsp;2.26<sup>4</sup> | 960 | 15 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 06-30-2025<sup>3</sup> | 13.05 &nbsp;&nbsp;&nbsp;&nbsp;—<sup>4,8</sup> | &nbsp;&nbsp;0.90 | &nbsp;&nbsp;0.90 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 13.95 | &nbsp;&nbsp;&nbsp;6.90<sup>5</sup> | 0.08<sup>67</sup> | 0.07<sup>67</sup> | (0.07)<sup>46</sup> | 211 | &nbsp;&nbsp;1 |
| 12-31-2024 | 12.63 &nbsp;&nbsp;0.32<sup>4</sup> | &nbsp;&nbsp;0.78 | &nbsp;&nbsp;1.10 | (0.32) | (0.36) |  | (0.68) | 13.05 | &nbsp;&nbsp;&nbsp;8.67 | 0.08<sup>7</sup> | 0.07<sup>7</sup> | &nbsp;&nbsp;2.41<sup>4</sup> | 205 | 13 |
| 12-31-2023 | 12.54 &nbsp;&nbsp;0.31<sup>4</sup> | &nbsp;&nbsp;1.28 | &nbsp;&nbsp;1.59 | (0.30) | (1.20) |  | (1.50) | 12.63 | &nbsp;&nbsp;13.72 | 0.08<sup>7</sup> | 0.08<sup>7</sup> | &nbsp;&nbsp;2.38<sup>4</sup> | 156 | &nbsp;&nbsp;9 |
| 12-31-2022 | 16.77 &nbsp;&nbsp;0.32<sup>4</sup> | (2.94) | (2.62) | (0.31) | (1.30) |  | (1.61) | 12.54 | (15.36) | 0.07<sup>7</sup> | 0.07<sup>7</sup> | &nbsp;&nbsp;2.21<sup>4</sup> | 137 | 15 |
| 12-31-2021 | 16.38 &nbsp;&nbsp;0.40<sup>4</sup> | &nbsp;&nbsp;1.15 | &nbsp;&nbsp;1.55 | (0.38) | (0.78) |  | (1.16) | 16.77 | &nbsp;&nbsp;&nbsp;9.51 | 0.07<sup>7</sup> | 0.06<sup>7</sup> | &nbsp;&nbsp;2.33<sup>4</sup> | 161 | 10 |
| 12-31-2020 | 15.42 &nbsp;&nbsp;0.40<sup>4</sup> | &nbsp;&nbsp;1.51 | &nbsp;&nbsp;1.91 | (0.38) | (0.57) |  | (0.95) | 16.38 | &nbsp;&nbsp;12.68 | 0.07<sup>7</sup> | 0.07<sup>7</sup> | &nbsp;&nbsp;2.57<sup>4</sup> | 136 | 15 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than $0.005 per share.** |
| **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 06-30-2025<sup>3</sup> | 11.26 (0.01)<sup>4</sup> | &nbsp;&nbsp;0.59 | &nbsp;&nbsp;0.58 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 11.84 | &nbsp;&nbsp;&nbsp;5.15<sup>5</sup> | 0.17<sup>67</sup> | 0.13<sup>67</sup> | (0.13)<sup>46</sup> | &nbsp;&nbsp;13 | &nbsp;&nbsp;3 |
| 12-31-2024 | 11.15 &nbsp;&nbsp;0.34<sup>4</sup> | &nbsp;&nbsp;0.15 | &nbsp;&nbsp;0.49 | (0.36) | (0.02) |  | (0.38) | 11.26 | &nbsp;&nbsp;&nbsp;4.43 | 0.17<sup>7</sup> | 0.13<sup>7</sup> | &nbsp;&nbsp;2.96<sup>4</sup> | &nbsp;&nbsp;13 | 11 |
| 12-31-2023 | 11.01 &nbsp;&nbsp;0.30<sup>4</sup> | &nbsp;&nbsp;0.66 | &nbsp;&nbsp;0.96 | (0.32) | (0.50) |  | (0.82) | 11.15 | &nbsp;&nbsp;&nbsp;9.12 | 0.17<sup>7</sup> | 0.13<sup>7</sup> | &nbsp;&nbsp;2.62<sup>4</sup> | &nbsp;&nbsp;13 | 11 |
| 12-31-2022 | 14.10 &nbsp;&nbsp;0.32<sup>4</sup> | (2.41) | (2.09) | (0.32) | (0.68) |  | (1.00) | 11.01 | (14.62) | 0.16<sup>7</sup> | 0.13<sup>7</sup> | &nbsp;&nbsp;2.59<sup>4</sup> | &nbsp;&nbsp;14 | 16 |
| 12-31-2021 | 14.43 &nbsp;&nbsp;0.38<sup>4</sup> | &nbsp;&nbsp;0.04 | &nbsp;&nbsp;0.42 | (0.35) | (0.40) |  | (0.75) | 14.10 | &nbsp;&nbsp;&nbsp;2.96 | 0.14<sup>7</sup> | 0.13<sup>7</sup> | &nbsp;&nbsp;2.62<sup>4</sup> | &nbsp;&nbsp;18 | 22 |
| 12-31-2020 | 13.68 &nbsp;&nbsp;0.45<sup>4</sup> | &nbsp;&nbsp;1.01 | &nbsp;&nbsp;1.46 | (0.40) | (0.31) |  | (0.71) | 14.43 | &nbsp;&nbsp;10.75 | 0.15<sup>7</sup> | 0.13<sup>7</sup> | &nbsp;&nbsp;3.19<sup>4</sup> | &nbsp;&nbsp;16 | 21 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 06-30-2025<sup>3</sup> | 11.28 (0.02)<sup>4</sup> | &nbsp;&nbsp;0.59 | &nbsp;&nbsp;0.57 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 11.85 | &nbsp;&nbsp;&nbsp;5.05<sup>5</sup> | 0.37<sup>67</sup> | 0.33<sup>67</sup> | (0.33)<sup>46</sup> | 133 | &nbsp;&nbsp;3 |
| 12-31-2024 | 11.17 &nbsp;&nbsp;0.33<sup>4</sup> | &nbsp;&nbsp;0.14 | &nbsp;&nbsp;0.47 | (0.34) | (0.02) |  | (0.36) | 11.28 | &nbsp;&nbsp;&nbsp;4.22 | 0.37<sup>7</sup> | 0.33<sup>7</sup> | &nbsp;&nbsp;2.85<sup>4</sup> | 136 | 11 |
| 12-31-2023 | 11.03 &nbsp;&nbsp;0.29<sup>4</sup> | &nbsp;&nbsp;0.64 | &nbsp;&nbsp;0.93 | (0.29) | (0.50) |  | (0.79) | 11.17 | &nbsp;&nbsp;&nbsp;8.90 | 0.37<sup>7</sup> | 0.33<sup>7</sup> | &nbsp;&nbsp;2.54<sup>4</sup> | 146 | 11 |
| 12-31-2022 | 14.11 &nbsp;&nbsp;0.28<sup>4</sup> | (2.38) | (2.10) | (0.30) | (0.68) |  | (0.98) | 11.03 | (14.71) | 0.36<sup>7</sup> | 0.33<sup>7</sup> | &nbsp;&nbsp;2.27<sup>4</sup> | 144 | 16 |
| 12-31-2021 | 14.45 &nbsp;&nbsp;0.32<sup>4</sup> | &nbsp;&nbsp;0.07 | &nbsp;&nbsp;0.39 | (0.33) | (0.40) |  | (0.73) | 14.11 | &nbsp;&nbsp;&nbsp;2.68 | 0.34<sup>7</sup> | 0.33<sup>7</sup> | &nbsp;&nbsp;2.19<sup>4</sup> | 200 | 22 |
| 12-31-2020 | 13.70 &nbsp;&nbsp;0.38<sup>4</sup> | &nbsp;&nbsp;1.05 | &nbsp;&nbsp;1.43 | (0.37) | (0.31) |  | (0.68) | 14.45 | &nbsp;&nbsp;10.53 | 0.35<sup>7</sup> | 0.33<sup>7</sup> | &nbsp;&nbsp;2.71<sup>4</sup> | 208 | 21 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 06-30-2025<sup>3</sup> | 11.25 &nbsp;&nbsp;&nbsp;&nbsp;—<sup>4,8</sup> | &nbsp;&nbsp;0.58 | &nbsp;&nbsp;0.58 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 11.83 | &nbsp;&nbsp;&nbsp;5.16<sup>5</sup> | 0.12<sup>67</sup> | 0.08<sup>67</sup> | (0.08)<sup>46</sup> | &nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;3 |
| 12-31-2024 | 11.14 &nbsp;&nbsp;0.37<sup>4</sup> | &nbsp;&nbsp;0.13 | &nbsp;&nbsp;0.50 | (0.37) | (0.02) |  | (0.39) | 11.25 | &nbsp;&nbsp;&nbsp;4.48 | 0.12<sup>7</sup> | 0.08<sup>7</sup> | &nbsp;&nbsp;3.20<sup>4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;7 | 11 |
| 12-31-2023 | 11.00 &nbsp;&nbsp;0.30<sup>4</sup> | &nbsp;&nbsp;0.66 | &nbsp;&nbsp;0.96 | (0.32) | (0.50) |  | (0.82) | 11.14 | &nbsp;&nbsp;&nbsp;9.18 | 0.12<sup>7</sup> | 0.08<sup>7</sup> | &nbsp;&nbsp;2.63<sup>4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;7 | 11 |
| 12-31-2022 | 14.08 &nbsp;&nbsp;0.35<sup>4</sup> | (2.42) | (2.07) | (0.33) | (0.68) |  | (1.01) | 11.00 | (14.52) | 0.11<sup>7</sup> | 0.08<sup>7</sup> | &nbsp;&nbsp;2.84<sup>4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;8 | 16 |
| 12-31-2021 | 14.42 &nbsp;&nbsp;0.33<sup>4</sup> | &nbsp;&nbsp;0.09 | &nbsp;&nbsp;0.42 | (0.36) | (0.40) |  | (0.76) | 14.08 | &nbsp;&nbsp;&nbsp;2.94 | 0.09<sup>7</sup> | 0.08<sup>7</sup> | &nbsp;&nbsp;2.24<sup>4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;8 | 22 |
| 12-31-2020 | 13.67 &nbsp;&nbsp;0.57<sup>4</sup> | &nbsp;&nbsp;0.89 | &nbsp;&nbsp;1.46 | (0.40) | (0.31) |  | (0.71) | 14.42 | &nbsp;&nbsp;10.80 | 0.10<sup>7</sup> | 0.08<sup>7</sup> | &nbsp;&nbsp;4.03<sup>4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;9 | 21 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than $0.005 per share.** |

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|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 204 |

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[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

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| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period |  | Ratios and supplemental data | Ratios and supplemental data | Ratios and supplemental data |
|  |  | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period<br> ($) Net<br> investment<br> income<br> (loss)<br> ($)<sup>1</sup> | Net<br> realized<br> and<br> unrealized<br> gain<br> (loss)<br> on investments<br> ($) | Total<br> from<br> investment<br> operations<br> ($) | From net<br> investment<br> income<br> ($) | From net<br> realized<br> gain<br> ($) | From tax<br> return<br> of capital<br> ($) | Total<br> distributions<br> ($) | Net asset<br> value, end<br> of period<br> ($) | Total<br> return<br> (%)<sup>2</sup> | Expenses<br> before<br> reductions<br> (%) | Expenses<br> including<br> reductions<br> (%) | Net<br> investment<br> income<br> (loss)<br> (%) | Net<br> assets,<br> end of<br> period (in<br> millions) | Portfolio<br> turnover<br> (%) |
| **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 06-30-2025<sup>3</sup> | 13.76 (0.01)<sup>4</sup> | &nbsp;&nbsp;1.12 | &nbsp;&nbsp;1.11 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 14.87 | &nbsp;&nbsp;&nbsp;8.07<sup>5</sup> | 0.12<sup>67</sup> | 0.12<sup>67</sup> | (0.12)<sup>46</sup> | &nbsp;&nbsp;&nbsp;201 | —<sup>8</sup> |
| 12-31-2024 | 13.11 &nbsp;&nbsp;0.27<sup>4</sup> | &nbsp;&nbsp;1.22 | &nbsp;&nbsp;1.49 | (0.28) | (0.56) |  | (0.84) | 13.76 | &nbsp;&nbsp;11.31 | 0.12<sup>7</sup> | 0.11<sup>7</sup> | &nbsp;&nbsp;1.96<sup>4</sup> | &nbsp;&nbsp;&nbsp;198 | &nbsp;&nbsp;9 |
| 12-31-2023 | 13.15 &nbsp;&nbsp;0.26<sup>4</sup> | &nbsp;&nbsp;1.75 | &nbsp;&nbsp;2.01 | (0.25) | (1.80) |  | (2.05) | 13.11 | &nbsp;&nbsp;17.00 | 0.12<sup>7</sup> | 0.12<sup>7</sup> | &nbsp;&nbsp;1.91<sup>4</sup> | &nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;6 |
| 12-31-2022 | 18.57 &nbsp;&nbsp;0.29<sup>4</sup> | (3.35) | (3.06) | (0.27) | (2.09) |  | (2.36) | 13.15 | (16.08) | 0.12<sup>7</sup> | 0.11<sup>7</sup> | &nbsp;&nbsp;1.81<sup>4</sup> | &nbsp;&nbsp;&nbsp;194 | 12 |
| 12-31-2021 | 17.79 &nbsp;&nbsp;0.37<sup>4</sup> | &nbsp;&nbsp;2.11 | &nbsp;&nbsp;2.48 | (0.36) | (1.34) |  | (1.70) | 18.57 | &nbsp;&nbsp;14.07 | 0.11<sup>7</sup> | 0.11<sup>7</sup> | &nbsp;&nbsp;1.97<sup>4</sup> | &nbsp;&nbsp;&nbsp;252 | 12<sup>9</sup> |
| 12-31-2020 | 16.92 &nbsp;&nbsp;0.36<sup>4</sup> | &nbsp;&nbsp;1.84 | &nbsp;&nbsp;2.20 | (0.37) | (0.96) |  | (1.33) | 17.79 | &nbsp;&nbsp;13.58 | 0.12<sup>7</sup> | 0.11<sup>7</sup> | &nbsp;&nbsp;2.19<sup>4</sup> | &nbsp;&nbsp;&nbsp;236 | 13 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 06-30-2025<sup>3</sup> | 13.78 (0.02)<sup>4</sup> | &nbsp;&nbsp;1.12 | &nbsp;&nbsp;1.10 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 14.88 | &nbsp;&nbsp;&nbsp;7.98<sup>5</sup> | 0.32<sup>67</sup> | 0.32<sup>67</sup> | (0.32)<sup>46</sup> | 4248 | —<sup>8</sup> |
| 12-31-2024 | 13.12 &nbsp;&nbsp;0.24<sup>4</sup> | &nbsp;&nbsp;1.23 | &nbsp;&nbsp;1.47 | (0.25) | (0.56) |  | (0.81) | 13.78 | &nbsp;&nbsp;11.17 | 0.32<sup>7</sup> | 0.31<sup>7</sup> | &nbsp;&nbsp;1.74<sup>4</sup> | 4222 | &nbsp;&nbsp;9 |
| 12-31-2023 | 13.17 &nbsp;&nbsp;0.23<sup>4</sup> | &nbsp;&nbsp;1.75 | &nbsp;&nbsp;1.98 | (0.23) | (1.80) |  | (2.03) | 13.12 | &nbsp;&nbsp;16.67 | 0.32<sup>7</sup> | 0.32<sup>7</sup> | &nbsp;&nbsp;1.70<sup>4</sup> | 4375 | &nbsp;&nbsp;6 |
| 12-31-2022 | 18.59 &nbsp;&nbsp;0.25<sup>4</sup> | (3.34) | (3.09) | (0.24) | (2.09) |  | (2.33) | 13.17 | (16.24) | 0.32<sup>7</sup> | 0.31<sup>7</sup> | &nbsp;&nbsp;1.59<sup>4</sup> | 4184 | 12 |
| 12-31-2021 | 17.81 &nbsp;&nbsp;0.33<sup>4</sup> | &nbsp;&nbsp;2.11 | &nbsp;&nbsp;2.44 | (0.32) | (1.34) |  | (1.66) | 18.59 | &nbsp;&nbsp;13.84 | 0.31<sup>7</sup> | 0.31<sup>7</sup> | &nbsp;&nbsp;1.72<sup>4</sup> | 5588 | 12<sup>9</sup> |
| 12-31-2020 | 16.94 &nbsp;&nbsp;0.33<sup>4</sup> | &nbsp;&nbsp;1.84 | &nbsp;&nbsp;2.17 | (0.34) | (0.96) |  | (1.30) | 17.81 | &nbsp;&nbsp;13.37 | 0.32<sup>7</sup> | 0.31<sup>7</sup> | &nbsp;&nbsp;1.97<sup>4</sup> | 5588 | 13 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 06-30-2025<sup>3</sup> | 13.75 &nbsp;&nbsp;&nbsp;&nbsp;—<sup>4,10</sup> | &nbsp;&nbsp;1.11 | &nbsp;&nbsp;1.11 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 14.86 | &nbsp;&nbsp;&nbsp;8.07<sup>5</sup> | 0.07<sup>67</sup> | 0.07<sup>67</sup> | (0.07)<sup>46</sup> | &nbsp;&nbsp;&nbsp;684 | —<sup>8</sup> |
| 12-31-2024 | 13.10 &nbsp;&nbsp;0.29<sup>4</sup> | &nbsp;&nbsp;1.21 | &nbsp;&nbsp;1.50 | (0.29) | (0.56) |  | (0.85) | 13.75 | &nbsp;&nbsp;11.37 | 0.07<sup>7</sup> | 0.06<sup>7</sup> | &nbsp;&nbsp;2.09<sup>4</sup> | &nbsp;&nbsp;&nbsp;642 | &nbsp;&nbsp;9 |
| 12-31-2023 | 13.15 &nbsp;&nbsp;0.28<sup>4</sup> | &nbsp;&nbsp;1.73 | &nbsp;&nbsp;2.01 | (0.26) | (1.80) |  | (2.06) | 13.10 | &nbsp;&nbsp;16.97 | 0.07<sup>7</sup> | 0.07<sup>7</sup> | &nbsp;&nbsp;2.04<sup>4</sup> | &nbsp;&nbsp;&nbsp;577 | &nbsp;&nbsp;6 |
| 12-31-2022 | 18.56 &nbsp;&nbsp;0.30<sup>4</sup> | (3.34) | (3.04) | (0.28) | (2.09) |  | (2.37) | 13.15 | (15.99) | 0.07<sup>7</sup> | 0.06<sup>7</sup> | &nbsp;&nbsp;1.92<sup>4</sup> | &nbsp;&nbsp;&nbsp;495 | 12 |
| 12-31-2021 | 17.78 &nbsp;&nbsp;0.40<sup>4</sup> | &nbsp;&nbsp;2.09 | &nbsp;&nbsp;2.49 | (0.37) | (1.34) |  | (1.71) | 18.56 | &nbsp;&nbsp;14.13 | 0.06<sup>7</sup> | 0.06<sup>7</sup> | &nbsp;&nbsp;2.12<sup>4</sup> | &nbsp;&nbsp;&nbsp;587 | 12<sup>9</sup> |
| 12-31-2020 | 16.91 &nbsp;&nbsp;0.38<sup>4</sup> | &nbsp;&nbsp;1.83 | &nbsp;&nbsp;2.21 | (0.38) | (0.96) |  | (1.34) | 17.78 | &nbsp;&nbsp;13.63 | 0.07<sup>7</sup> | 0.06<sup>7</sup> | &nbsp;&nbsp;2.30<sup>4</sup> | &nbsp;&nbsp;&nbsp;477 | 13 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than 1%. 9 Excludes merger activity. 10 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than 1%. 9 Excludes merger activity. 10 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than 1%. 9 Excludes merger activity. 10 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than 1%. 9 Excludes merger activity. 10 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than 1%. 9 Excludes merger activity. 10 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than 1%. 9 Excludes merger activity. 10 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than 1%. 9 Excludes merger activity. 10 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than 1%. 9 Excludes merger activity. 10 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than 1%. 9 Excludes merger activity. 10 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than 1%. 9 Excludes merger activity. 10 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than 1%. 9 Excludes merger activity. 10 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than 1%. 9 Excludes merger activity. 10 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than 1%. 9 Excludes merger activity. 10 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than 1%. 9 Excludes merger activity. 10 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than 1%. 9 Excludes merger activity. 10 Less than $0.005 per share.** |
| **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 06-30-2025<sup>3</sup> | 12.30 (0.01)<sup>4</sup> | &nbsp;&nbsp;0.79 | &nbsp;&nbsp;0.78 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 13.08 | &nbsp;&nbsp;&nbsp;6.34<sup>5</sup> | 0.15<sup>67</sup> | 0.13<sup>67</sup> | (0.13)<sup>46</sup> | &nbsp;&nbsp;&nbsp;&nbsp;12 | &nbsp;&nbsp;2 |
| 12-31-2024 | 12.03 &nbsp;&nbsp;0.33<sup>4</sup> | &nbsp;&nbsp;0.54 | &nbsp;&nbsp;0.87 | (0.34) | (0.26) |  | (0.60) | 12.30 | &nbsp;&nbsp;&nbsp;7.14 | 0.15<sup>7</sup> | 0.13<sup>7</sup> | &nbsp;&nbsp;2.63<sup>4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;12 | &nbsp;&nbsp;9 |
| 12-31-2023 | 11.97 &nbsp;&nbsp;0.29<sup>4</sup> | &nbsp;&nbsp;1.06 | &nbsp;&nbsp;1.35 | (0.29) | (1.00) |  | (1.29) | 12.03 | &nbsp;&nbsp;12.15 | 0.15<sup>7</sup> | 0.13<sup>7</sup> | &nbsp;&nbsp;2.36<sup>4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;13 | &nbsp;&nbsp;9 |
| 12-31-2022 | 15.82 &nbsp;&nbsp;0.31<sup>4</sup> | (2.75) | (2.44) | (0.31) | (1.10) |  | (1.41) | 11.97 | (15.19) | 0.14<sup>7</sup> | 0.13<sup>7</sup> | &nbsp;&nbsp;2.28<sup>4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;12 | 15 |
| 12-31-2021 | 15.74 &nbsp;&nbsp;0.38<sup>4</sup> | &nbsp;&nbsp;0.75 | &nbsp;&nbsp;1.13 | (0.36) | (0.69) |  | (1.05) | 15.82 | &nbsp;&nbsp;&nbsp;7.25 | 0.13<sup>7</sup> | 0.13<sup>7</sup> | &nbsp;&nbsp;2.36<sup>4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;16 | 13 |
| 12-31-2020 | 14.85 &nbsp;&nbsp;0.40<sup>4</sup> | &nbsp;&nbsp;1.36 | &nbsp;&nbsp;1.76 | (0.38) | (0.49) |  | (0.87) | 15.74 | &nbsp;&nbsp;12.09 | 0.14<sup>7</sup> | 0.13<sup>7</sup> | &nbsp;&nbsp;2.64<sup>4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;14 | 17 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 06-30-2025<sup>3</sup> | 12.33 (0.02)<sup>4</sup> | &nbsp;&nbsp;0.79 | &nbsp;&nbsp;0.77 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 13.10 | &nbsp;&nbsp;&nbsp;6.24<sup>5</sup> | 0.35<sup>67</sup> | 0.33<sup>67</sup> | (0.33)<sup>46</sup> | &nbsp;&nbsp;&nbsp;209 | &nbsp;&nbsp;2 |
| 12-31-2024 | 12.06 &nbsp;&nbsp;0.29<sup>4</sup> | &nbsp;&nbsp;0.55 | &nbsp;&nbsp;0.84 | (0.31) | (0.26) |  | (0.57) | 12.33 | &nbsp;&nbsp;&nbsp;6.91 | 0.35<sup>7</sup> | 0.33<sup>7</sup> | &nbsp;&nbsp;2.35<sup>4</sup> | &nbsp;&nbsp;&nbsp;208 | &nbsp;&nbsp;9 |
| 12-31-2023 | 12.00 &nbsp;&nbsp;0.27<sup>4</sup> | &nbsp;&nbsp;1.05 | &nbsp;&nbsp;1.32 | (0.26) | (1.00) |  | (1.26) | 12.06 | &nbsp;&nbsp;11.91 | 0.35<sup>7</sup> | 0.33<sup>7</sup> | &nbsp;&nbsp;2.19<sup>4</sup> | &nbsp;&nbsp;&nbsp;231 | &nbsp;&nbsp;9 |
| 12-31-2022 | 15.85 &nbsp;&nbsp;0.28<sup>4</sup> | (2.75) | (2.47) | (0.28) | (1.10) |  | (1.38) | 12.00 | (15.34) | 0.34<sup>7</sup> | 0.33<sup>7</sup> | &nbsp;&nbsp;2.00<sup>4</sup> | &nbsp;&nbsp;&nbsp;224 | 15 |
| 12-31-2021 | 15.77 &nbsp;&nbsp;0.33<sup>4</sup> | &nbsp;&nbsp;0.77 | &nbsp;&nbsp;1.10 | (0.33) | (0.69) |  | (1.02) | 15.85 | &nbsp;&nbsp;&nbsp;7.03 | 0.33<sup>7</sup> | 0.33<sup>7</sup> | &nbsp;&nbsp;2.05<sup>4</sup> | &nbsp;&nbsp;&nbsp;301 | 13 |
| 12-31-2020 | 14.88 &nbsp;&nbsp;0.37<sup>4</sup> | &nbsp;&nbsp;1.36 | &nbsp;&nbsp;1.73 | (0.35) | (0.49) |  | (0.84) | 15.77 | &nbsp;&nbsp;11.87 | 0.34<sup>7</sup> | 0.33<sup>7</sup> | &nbsp;&nbsp;2.43<sup>4</sup> | &nbsp;&nbsp;&nbsp;307 | 17 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 06-30-2025<sup>3</sup> | 12.30 &nbsp;&nbsp;&nbsp;&nbsp;—<sup>4,8</sup> | &nbsp;&nbsp;0.78 | &nbsp;&nbsp;0.78 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 13.08 | &nbsp;&nbsp;&nbsp;6.34<sup>5</sup> | 0.10<sup>67</sup> | 0.08<sup>67</sup> | (0.08)<sup>46</sup> | &nbsp;&nbsp;&nbsp;&nbsp;49 | &nbsp;&nbsp;2 |
| 12-31-2024 | 12.03 &nbsp;&nbsp;0.34<sup>4</sup> | &nbsp;&nbsp;0.53 | &nbsp;&nbsp;0.87 | (0.34) | (0.26) |  | (0.60) | 12.30 | &nbsp;&nbsp;&nbsp;7.19 | 0.10<sup>7</sup> | 0.08<sup>7</sup> | &nbsp;&nbsp;2.69<sup>4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;47 | &nbsp;&nbsp;9 |
| 12-31-2023 | 11.97 &nbsp;&nbsp;0.32<sup>4</sup> | &nbsp;&nbsp;1.03 | &nbsp;&nbsp;1.35 | (0.29) | (1.00) |  | (1.29) | 12.03 | &nbsp;&nbsp;12.21 | 0.10<sup>7</sup> | 0.08<sup>7</sup> | &nbsp;&nbsp;2.57<sup>4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;45 | &nbsp;&nbsp;9 |
| 12-31-2022 | 15.81 &nbsp;&nbsp;0.33<sup>4</sup> | (2.76) | (2.43) | (0.31) | (1.10) |  | (1.41) | 11.97 | (15.08) | 0.09<sup>7</sup> | 0.08<sup>7</sup> | &nbsp;&nbsp;2.37<sup>4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;39 | 15 |
| 12-31-2021 | 15.74 &nbsp;&nbsp;0.40<sup>4</sup> | &nbsp;&nbsp;0.73 | &nbsp;&nbsp;1.13 | (0.37) | (0.69) |  | (1.06) | 15.81 | &nbsp;&nbsp;&nbsp;7.23 | 0.08<sup>7</sup> | 0.08<sup>7</sup> | &nbsp;&nbsp;2.44<sup>4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;45 | 13 |
| 12-31-2020 | 14.84 &nbsp;&nbsp;0.40<sup>4</sup> | &nbsp;&nbsp;1.38 | &nbsp;&nbsp;1.78 | (0.39) | (0.49) |  | (0.88) | 15.74 | &nbsp;&nbsp;12.22 | 0.09<sup>7</sup> | 0.08<sup>7</sup> | &nbsp;&nbsp;2.67<sup>4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;35 | 17 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than $0.005 per share.** |

---

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| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 205 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

------

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| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period |  | Ratios and supplemental data | Ratios and supplemental data | Ratios and supplemental data |
|  |  | **Income (loss) from investment operations** | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period<br> ($) | Net<br> investment<br> income<br> (loss)<br> ($)<sup>1</sup> | Net<br> realized<br> and<br> unrealized<br> gain<br> (loss)<br> on investments<br> ($) | Total<br> from<br> investment<br> operations<br> ($) | From net<br> investment<br> income<br> ($) | From net<br> realized<br> gain<br> ($) | From tax<br> return<br> of capital<br> ($) | Total<br> distributions<br> ($) | Net asset<br> value, end<br> of period<br> ($) | Total<br> return<br> (%)<sup>2</sup> | Expenses<br> before<br> reductions<br> (%) | Expenses<br> including<br> reductions<br> (%) | Net<br> investment<br> income<br> (loss)<br> (%) | Net<br> assets,<br> end of<br> period (in<br> millions) | Portfolio<br> turnover<br> (%) |
| **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 06-30-2025<sup>3</sup> | 10.80 | (0.03) | &nbsp;&nbsp;0.58 | &nbsp;&nbsp;0.55 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 11.35 | &nbsp;&nbsp;&nbsp;5.09<sup>4</sup> | 0.94<sup>5</sup> | 0.93<sup>5</sup> | (0.50)<sup>5</sup> | &nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;83 |
| 12-31-2024 | &nbsp;&nbsp;8.63 | (0.06) | &nbsp;&nbsp;2.23 | &nbsp;&nbsp;2.17 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 10.80 | &nbsp;&nbsp;25.14 | 0.94 | 0.93 | (0.62) | &nbsp;&nbsp;&nbsp;144 | 152 |
| 12-31-2023 | &nbsp;&nbsp;7.27 | (0.03) | &nbsp;&nbsp;1.39 | &nbsp;&nbsp;1.36 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;8.63 | &nbsp;&nbsp;18.71 | 0.94 | 0.94 | (0.42) | &nbsp;&nbsp;&nbsp;135 | 104 |
| 12-31-2022 | 19.86 | (0.06) | (6.98) | (7.04) | &nbsp;&nbsp;&nbsp;&nbsp;— | (5.55) |  | (5.55) | &nbsp;&nbsp;7.27 | (34.64) | 0.93 | 0.93 | (0.50) | &nbsp;&nbsp;&nbsp;128 | &nbsp;&nbsp;97 |
| 12-31-2021 | 26.19 | (0.19) | &nbsp;&nbsp;1.58 | &nbsp;&nbsp;1.39 | &nbsp;&nbsp;&nbsp;&nbsp;— | (7.72) |  | (7.72) | 19.86 | &nbsp;&nbsp;&nbsp;3.54 | 0.92 | 0.92 | (0.71) | &nbsp;&nbsp;&nbsp;215 | &nbsp;&nbsp;91 |
| 12-31-2020 | 18.07 | (0.13) | 11.50 | 11.37 | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.25) |  | (3.25) | 26.19 | &nbsp;&nbsp;65.39 | 0.93 | 0.92 | (0.61) | &nbsp;&nbsp;&nbsp;234 | &nbsp;&nbsp;98 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 06-30-2025<sup>3</sup> | &nbsp;&nbsp;8.42 | (0.03) | &nbsp;&nbsp;0.46 | &nbsp;&nbsp;0.43 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;8.85 | &nbsp;&nbsp;&nbsp;5.11<sup>4</sup> | 1.14<sup>5</sup> | 1.13<sup>5</sup> | (0.70)<sup>5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;62 | &nbsp;&nbsp;83 |
| 12-31-2024 | &nbsp;&nbsp;6.75 | (0.06) | &nbsp;&nbsp;1.73 | &nbsp;&nbsp;1.67 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;8.42 | &nbsp;&nbsp;24.74 | 1.14 | 1.13 | (0.82) | &nbsp;&nbsp;&nbsp;&nbsp;64 | 152 |
| 12-31-2023 | &nbsp;&nbsp;5.69 | (0.04) | &nbsp;&nbsp;1.10 | &nbsp;&nbsp;1.06 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;6.75 | &nbsp;&nbsp;18.63 | 1.14 | 1.14 | (0.62) | &nbsp;&nbsp;&nbsp;&nbsp;63 | 104 |
| 12-31-2022 | 17.47 | (0.07) | (6.16) | (6.23) | &nbsp;&nbsp;&nbsp;&nbsp;— | (5.55) |  | (5.55) | &nbsp;&nbsp;5.69 | (34.77) | 1.13 | 1.13 | (0.70) | &nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp;97 |
| 12-31-2021 | 23.93 | (0.22) | &nbsp;&nbsp;1.48 | &nbsp;&nbsp;1.26 | &nbsp;&nbsp;&nbsp;&nbsp;— | (7.72) |  | (7.72) | 17.47 | &nbsp;&nbsp;&nbsp;3.30 | 1.12 | 1.12 | (0.92) | &nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp;91 |
| 12-31-2020 | 16.74 | (0.16) | 10.60 | 10.44 | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.25) |  | (3.25) | 23.93 | &nbsp;&nbsp;65.02 | 1.13 | 1.12 | (0.81) | &nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;98 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 06-30-2025<sup>3</sup> | 11.35 | (0.02) | &nbsp;&nbsp;0.60 | &nbsp;&nbsp;0.58 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 11.93 | &nbsp;&nbsp;&nbsp;5.11<sup>4</sup> | 0.89<sup>5</sup> | 0.88<sup>5</sup> | (0.45)<sup>5</sup> | &nbsp;&nbsp;&nbsp;448 | &nbsp;&nbsp;83 |
| 12-31-2024 | &nbsp;&nbsp;9.07 | (0.06) | &nbsp;&nbsp;2.34 | &nbsp;&nbsp;2.28 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 11.35 | &nbsp;&nbsp;25.14 | 0.89 | 0.88 | (0.57) | &nbsp;&nbsp;&nbsp;447 | 152 |
| 12-31-2023 | &nbsp;&nbsp;7.63 | (0.03) | &nbsp;&nbsp;1.47 | &nbsp;&nbsp;1.44 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;9.07 | &nbsp;&nbsp;18.87 | 0.89 | 0.89 | (0.37) | &nbsp;&nbsp;&nbsp;408 | 104 |
| 12-31-2022 | 20.40 | (0.06) | (7.16) | (7.22) | &nbsp;&nbsp;&nbsp;&nbsp;— | (5.55) |  | (5.55) | &nbsp;&nbsp;7.63 | (34.61) | 0.88 | 0.88 | (0.44) | &nbsp;&nbsp;&nbsp;373 | &nbsp;&nbsp;97 |
| 12-31-2021 | 26.70 | (0.18) | &nbsp;&nbsp;1.60 | &nbsp;&nbsp;1.42 | &nbsp;&nbsp;&nbsp;&nbsp;— | (7.72) |  | (7.72) | 20.40 | &nbsp;&nbsp;&nbsp;3.58 | 0.87 | 0.87 | (0.66) | &nbsp;&nbsp;&nbsp;611 | &nbsp;&nbsp;91 |
| 12-31-2020 | 18.37 | (0.12) | 11.70 | 11.58 | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.25) |  | (3.25) | 26.70 | &nbsp;&nbsp;65.47 | 0.88 | 0.87 | (0.55) | &nbsp;&nbsp;&nbsp;635 | &nbsp;&nbsp;98 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** |
| **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 06-30-2025<sup>3</sup> | 21.25 | &nbsp;&nbsp;0.13 | (0.14) | (0.01) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 21.24 | &nbsp;&nbsp;(0.05)<sup>4</sup> | 0.57<sup>5</sup> | 0.46<sup>5</sup> | &nbsp;&nbsp;1.22<sup>5</sup> | &nbsp;&nbsp;&nbsp;828 | &nbsp;&nbsp;&nbsp;&nbsp;5 |
| 12-31-2024 | 19.60 | &nbsp;&nbsp;0.23 | &nbsp;&nbsp;2.39 | &nbsp;&nbsp;2.62 | (0.23) | (0.74) |  | (0.97) | 21.25 | &nbsp;&nbsp;13.37 | 0.56 | 0.45 | &nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp;886 | &nbsp;&nbsp;15 |
| 12-31-2023 | 18.11 | &nbsp;&nbsp;0.23 | &nbsp;&nbsp;2.46 | &nbsp;&nbsp;2.69 | (0.21) | (0.99) |  | (1.20) | 19.60 | &nbsp;&nbsp;16.01 | 0.57 | 0.46 | &nbsp;&nbsp;1.21 | &nbsp;&nbsp;&nbsp;883 | &nbsp;&nbsp;19 |
| 12-31-2022 | 24.89 | &nbsp;&nbsp;0.25 | (3.67) | (3.42) | (0.24) | (3.12) |  | (3.36) | 18.11 | (13.43) | 0.56 | 0.45 | &nbsp;&nbsp;1.15 | &nbsp;&nbsp;&nbsp;844 | &nbsp;&nbsp;12 |
| 12-31-2021 | 21.34 | &nbsp;&nbsp;0.19 | &nbsp;&nbsp;4.95 | &nbsp;&nbsp;5.14 | (0.23) | (1.36) |  | (1.59) | 24.89 | &nbsp;&nbsp;24.21 | 0.56 | 0.45 | &nbsp;&nbsp;0.78 | 1086 | &nbsp;&nbsp;17 |
| 12-31-2020 | 21.39 | &nbsp;&nbsp;0.21 | &nbsp;&nbsp;2.19 | &nbsp;&nbsp;2.40 | (0.32) | (2.13) |  | (2.45) | 21.34 | &nbsp;&nbsp;13.22 | 0.56 | 0.46 | &nbsp;&nbsp;1.10 | &nbsp;&nbsp;&nbsp;996 | &nbsp;&nbsp;14 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 06-30-2025<sup>3</sup> | 21.06 | &nbsp;&nbsp;0.10 | (0.13) | (0.03) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 21.03 | &nbsp;&nbsp;(0.14)<sup>4</sup> | 0.77<sup>5</sup> | 0.66<sup>5</sup> | &nbsp;&nbsp;1.02<sup>5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;51 | &nbsp;&nbsp;&nbsp;&nbsp;5 |
| 12-31-2024 | 19.44 | &nbsp;&nbsp;0.19 | &nbsp;&nbsp;2.36 | &nbsp;&nbsp;2.55 | (0.19) | (0.74) |  | (0.93) | 21.06 | &nbsp;&nbsp;13.13 | 0.76 | 0.65 | &nbsp;&nbsp;0.89 | &nbsp;&nbsp;&nbsp;&nbsp;55 | &nbsp;&nbsp;15 |
| 12-31-2023 | 17.98 | &nbsp;&nbsp;0.19 | &nbsp;&nbsp;2.43 | &nbsp;&nbsp;2.62 | (0.17) | (0.99) |  | (1.16) | 19.44 | &nbsp;&nbsp;15.73 | 0.77 | 0.66 | &nbsp;&nbsp;1.01 | &nbsp;&nbsp;&nbsp;&nbsp;56 | &nbsp;&nbsp;19 |
| 12-31-2022 | 24.73 | &nbsp;&nbsp;0.20 | (3.63) | (3.43) | (0.20) | (3.12) |  | (3.32) | 17.98 | (13.59) | 0.76 | 0.65 | &nbsp;&nbsp;0.95 | &nbsp;&nbsp;&nbsp;&nbsp;55 | &nbsp;&nbsp;12 |
| 12-31-2021 | 21.21 | &nbsp;&nbsp;0.14 | &nbsp;&nbsp;4.91 | &nbsp;&nbsp;5.05 | (0.17) | (1.36) |  | (1.53) | 24.73 | &nbsp;&nbsp;23.96 | 0.76 | 0.65 | &nbsp;&nbsp;0.58 | &nbsp;&nbsp;&nbsp;&nbsp;73 | &nbsp;&nbsp;17 |
| 12-31-2020 | 21.28 | &nbsp;&nbsp;0.17 | &nbsp;&nbsp;2.17 | &nbsp;&nbsp;2.34 | (0.28) | (2.13) |  | (2.41) | 21.21 | &nbsp;&nbsp;12.98 | 0.76 | 0.66 | &nbsp;&nbsp;0.90 | &nbsp;&nbsp;&nbsp;&nbsp;67 | &nbsp;&nbsp;14 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 06-30-2025<sup>3</sup> | 21.25 | &nbsp;&nbsp;0.13 | (0.13) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 21.25 | &nbsp;&nbsp;&nbsp;0.00<sup>4</sup> | 0.52<sup>5</sup> | 0.41<sup>5</sup> | &nbsp;&nbsp;1.28<sup>5</sup> | &nbsp;&nbsp;&nbsp;298 | &nbsp;&nbsp;&nbsp;&nbsp;5 |
| 12-31-2024 | 19.59 | &nbsp;&nbsp;0.24 | &nbsp;&nbsp;2.40 | &nbsp;&nbsp;2.64 | (0.24) | (0.74) |  | (0.98) | 21.25 | &nbsp;&nbsp;13.47 | 0.51 | 0.40 | &nbsp;&nbsp;1.15 | &nbsp;&nbsp;&nbsp;303 | &nbsp;&nbsp;15 |
| 12-31-2023 | 18.11 | &nbsp;&nbsp;0.24 | &nbsp;&nbsp;2.45 | &nbsp;&nbsp;2.69 | (0.22) | (0.99) |  | (1.21) | 19.59 | &nbsp;&nbsp;16.00 | 0.52 | 0.41 | &nbsp;&nbsp;1.27 | &nbsp;&nbsp;&nbsp;273 | &nbsp;&nbsp;19 |
| 12-31-2022 | 24.89 | &nbsp;&nbsp;0.26 | (3.66) | (3.40) | (0.26) | (3.12) |  | (3.38) | 18.11 | (13.39) | 0.51 | 0.40 | &nbsp;&nbsp;1.20 | &nbsp;&nbsp;&nbsp;235 | &nbsp;&nbsp;12 |
| 12-31-2021 | 21.34 | &nbsp;&nbsp;0.21 | &nbsp;&nbsp;4.94 | &nbsp;&nbsp;5.15 | (0.24) | (1.36) |  | (1.60) | 24.89 | &nbsp;&nbsp;24.27 | 0.51 | 0.40 | &nbsp;&nbsp;0.84 | &nbsp;&nbsp;&nbsp;297 | &nbsp;&nbsp;17 |
| 12-31-2020 | 21.39 | &nbsp;&nbsp;0.22 | &nbsp;&nbsp;2.19 | &nbsp;&nbsp;2.41 | (0.33) | (2.13) |  | (2.46) | 21.34 | &nbsp;&nbsp;13.27 | 0.51 | 0.41 | &nbsp;&nbsp;1.15 | &nbsp;&nbsp;&nbsp;242 | &nbsp;&nbsp;14 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** |

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|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 206 |

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[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

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| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period |  | Ratios and supplemental data | Ratios and supplemental data | Ratios and supplemental data |
|  |  | **Income (loss) from investment operations** | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period<br> ($) | Net<br> investment<br> income<br> (loss)<br> ($)<sup>1</sup> | Net<br> realized<br> and<br> unrealized<br> gain<br> (loss)<br> on investments<br> ($) | Total<br> from<br> investment<br> operations<br> ($) | From net<br> investment<br> income<br> ($) | From net<br> realized<br> gain<br> ($) | From tax<br> return<br> of capital<br> ($) | Total<br> distributions<br> ($) | Net asset<br> value, end<br> of period<br> ($) | Total<br> return<br> (%)<sup>2</sup> | Expenses<br> before<br> reductions<br> (%) | Expenses<br> including<br> reductions<br> (%) | Net<br> investment<br> income<br> (loss)<br> (%) | Net<br> assets,<br> end of<br> period (in<br> millions) | Portfolio<br> turnover<br> (%) |
| **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 06-30-2025<sup>3</sup> | 10.86 | 0.09 | (0.33) | (0.24) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 10.62 | &nbsp;&nbsp;(2.21)<sup>4</sup> | 0.97<sup>5</sup> | 0.91<sup>5</sup> | 1.67<sup>5</sup> | 221 | &nbsp;&nbsp;31 |
| 12-31-2024 | &nbsp;&nbsp;9.87 | 0.12 | &nbsp;&nbsp;1.49 | &nbsp;&nbsp;1.61 | (0.04) | (0.58) |  | (0.62) | 10.86 | &nbsp;&nbsp;16.24 | 0.98 | 0.92 | 1.09 | 245 | &nbsp;&nbsp;50 |
| 12-31-2023 | &nbsp;&nbsp;9.95 | 0.11 | &nbsp;&nbsp;1.44 | &nbsp;&nbsp;1.55 | (0.12) | (1.51) |  | (1.63) | &nbsp;&nbsp;9.87 | &nbsp;&nbsp;18.52 | 0.98 | 0.93 | 1.04 | 235 | &nbsp;&nbsp;46 |
| 12-31-2022 | 11.97 | 0.11 | (0.69) | (0.58) | (0.10) | (1.34) |  | (1.44) | &nbsp;&nbsp;9.95 | &nbsp;&nbsp;(4.31) | 0.98 | 0.93 | 0.94 | 222 | &nbsp;&nbsp;49 |
| 12-31-2021 | 10.18 | 0.06 | &nbsp;&nbsp;2.42 | &nbsp;&nbsp;2.48 | (0.12) | (0.57) |  | (0.69) | 11.97 | &nbsp;&nbsp;24.34 | 1.04 | 0.99 | 0.48 | 241 | &nbsp;&nbsp;26 |
| 12-31-2020 | &nbsp;&nbsp;9.68 | 0.14 | &nbsp;&nbsp;0.73 | &nbsp;&nbsp;0.87 | (0.15) | (0.22) |  | (0.37) | 10.18 | &nbsp;&nbsp;&nbsp;9.60 | 1.05 | 1.00 | 1.55 | 210 | &nbsp;&nbsp;36 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 06-30-2025<sup>3</sup> | 10.88 | 0.08 | (0.34) | (0.26) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 10.62 | &nbsp;&nbsp;(2.39)<sup>4</sup> | 1.17<sup>5</sup> | 1.11<sup>5</sup> | 1.47<sup>5</sup> | &nbsp;&nbsp;48 | &nbsp;&nbsp;31 |
| 12-31-2024 | &nbsp;&nbsp;9.88 | 0.10 | &nbsp;&nbsp;1.50 | &nbsp;&nbsp;1.60 | (0.02) | (0.58) |  | (0.60) | 10.88 | &nbsp;&nbsp;16.14 | 1.18 | 1.12 | 0.88 | &nbsp;&nbsp;53 | &nbsp;&nbsp;50 |
| 12-31-2023 | &nbsp;&nbsp;9.96 | 0.09 | &nbsp;&nbsp;1.44 | &nbsp;&nbsp;1.53 | (0.10) | (1.51) |  | (1.61) | &nbsp;&nbsp;9.88 | &nbsp;&nbsp;18.25 | 1.18 | 1.13 | 0.84 | &nbsp;&nbsp;54 | &nbsp;&nbsp;46 |
| 12-31-2022 | 11.98 | 0.08 | (0.69) | (0.61) | (0.07) | (1.34) |  | (1.41) | &nbsp;&nbsp;9.96 | &nbsp;&nbsp;(4.52) | 1.18 | 1.13 | 0.74 | &nbsp;&nbsp;51 | &nbsp;&nbsp;49 |
| 12-31-2021 | 10.19 | 0.03 | &nbsp;&nbsp;2.42 | &nbsp;&nbsp;2.45 | (0.09) | (0.57) |  | (0.66) | 11.98 | &nbsp;&nbsp;24.10 | 1.24 | 1.19 | 0.28 | &nbsp;&nbsp;56 | &nbsp;&nbsp;26 |
| 12-31-2020 | &nbsp;&nbsp;9.69 | 0.12 | &nbsp;&nbsp;0.74 | &nbsp;&nbsp;0.86 | (0.14) | (0.22) |  | (0.36) | 10.19 | &nbsp;&nbsp;&nbsp;9.38 | 1.25 | 1.20 | 1.36 | &nbsp;&nbsp;47 | &nbsp;&nbsp;36 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 06-30-2025<sup>3</sup> | 10.74 | 0.09 | (0.33) | (0.24) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 10.50 | &nbsp;&nbsp;(2.23)<sup>4</sup> | 0.92<sup>5</sup> | 0.86<sup>5</sup> | 1.72<sup>5</sup> | 309 | &nbsp;&nbsp;31 |
| 12-31-2024 | &nbsp;&nbsp;9.76 | 0.12 | &nbsp;&nbsp;1.48 | &nbsp;&nbsp;1.60 | (0.04) | (0.58) |  | (0.62) | 10.74 | &nbsp;&nbsp;16.37 | 0.93 | 0.87 | 1.13 | 330 | &nbsp;&nbsp;50 |
| 12-31-2023 | &nbsp;&nbsp;9.85 | 0.11 | &nbsp;&nbsp;1.44 | &nbsp;&nbsp;1.55 | (0.13) | (1.51) |  | (1.64) | &nbsp;&nbsp;9.76 | &nbsp;&nbsp;18.65 | 0.93 | 0.88 | 1.09 | 331 | &nbsp;&nbsp;46 |
| 12-31-2022 | 11.87 | 0.11 | (0.69) | (0.58) | (0.10) | (1.34) |  | (1.44) | &nbsp;&nbsp;9.85 | &nbsp;&nbsp;(4.30) | 0.93 | 0.88 | 0.98 | 296 | &nbsp;&nbsp;49 |
| 12-31-2021 | 10.11 | 0.06 | &nbsp;&nbsp;2.39 | &nbsp;&nbsp;2.45 | (0.12) | (0.57) |  | (0.69) | 11.87 | &nbsp;&nbsp;24.26 | 0.99 | 0.94 | 0.53 | 366 | &nbsp;&nbsp;26 |
| 12-31-2020 | &nbsp;&nbsp;9.61 | 0.14 | &nbsp;&nbsp;0.74 | &nbsp;&nbsp;0.88 | (0.16) | (0.22) |  | (0.38) | 10.11 | &nbsp;&nbsp;&nbsp;9.72 | 1.00 | 0.95 | 1.59 | 345 | &nbsp;&nbsp;36 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** |
| **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 06-30-2025<sup>3</sup> | 20.46 | 0.27 | (0.68) | (0.41) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 20.05 | &nbsp;&nbsp;(2.00)<sup>4</sup> | 0.81<sup>5</sup> | 0.81<sup>5</sup> | 2.70<sup>5</sup> | &nbsp;&nbsp;45 | &nbsp;&nbsp;49 |
| 12-31-2024 | 18.85 | 0.37 | &nbsp;&nbsp;1.67 | &nbsp;&nbsp;2.04 | (0.43) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.43) | 20.46 | &nbsp;&nbsp;10.71 | 0.81 | 0.81 | 1.89 | &nbsp;&nbsp;50 | &nbsp;&nbsp;70 |
| 12-31-2023 | 17.44 | 0.42 | &nbsp;&nbsp;1.71 | &nbsp;&nbsp;2.13 | (0.40) | (0.32) |  | (0.72) | 18.85 | &nbsp;&nbsp;13.02 | 0.82 | 0.81 | 2.36 | &nbsp;&nbsp;52 | 106 |
| 12-31-2022 | 27.47 | 0.35 | (8.23) | (7.88) | (0.25) | (1.90) |  | (2.15) | 17.44 | (28.51) | 0.81 | 0.80 | 1.60 | &nbsp;&nbsp;51 | &nbsp;&nbsp;93 |
| 12-31-2021 | 18.97 | 0.31 | &nbsp;&nbsp;8.54 | &nbsp;&nbsp;8.85 | (0.35) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.35) | 27.47 | &nbsp;&nbsp;46.79 | 0.80 | 0.79 | 1.33 | &nbsp;&nbsp;79 | &nbsp;&nbsp;63 |
| 12-31-2020 | 23.55 | 0.40 | (1.97) | (1.57) | (0.43) | (2.58) |  | (3.01) | 18.97 | &nbsp;&nbsp;(5.64) | 0.82 | 0.82 | 1.96 | &nbsp;&nbsp;61 | 180 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 06-30-2025<sup>3</sup> | 20.44 | 0.25 | (0.69) | (0.44) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 20.00 | &nbsp;&nbsp;(2.15)<sup>4</sup> | 1.01<sup>5</sup> | 1.01<sup>5</sup> | 2.51<sup>5</sup> | &nbsp;&nbsp;21 | &nbsp;&nbsp;49 |
| 12-31-2024 | 18.84 | 0.33 | &nbsp;&nbsp;1.67 | &nbsp;&nbsp;2.00 | (0.40) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.40) | 20.44 | &nbsp;&nbsp;10.49 | 1.01 | 1.01 | 1.68 | &nbsp;&nbsp;23 | &nbsp;&nbsp;70 |
| 12-31-2023 | 17.43 | 0.38 | &nbsp;&nbsp;1.72 | &nbsp;&nbsp;2.10 | (0.37) | (0.32) |  | (0.69) | 18.84 | &nbsp;&nbsp;12.80 | 1.02 | 1.01 | 2.13 | &nbsp;&nbsp;25 | 106 |
| 12-31-2022 | 27.44 | 0.31 | (8.22) | (7.91) | (0.20) | (1.90) |  | (2.10) | 17.43 | (28.64) | 1.01 | 1.00 | 1.40 | &nbsp;&nbsp;28 | &nbsp;&nbsp;93 |
| 12-31-2021 | 18.96 | 0.26 | &nbsp;&nbsp;8.52 | &nbsp;&nbsp;8.78 | (0.30) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.30) | 27.44 | &nbsp;&nbsp;46.46 | 1.00 | 0.99 | 1.14 | &nbsp;&nbsp;44 | &nbsp;&nbsp;63 |
| 12-31-2020 | 23.53 | 0.36 | (1.96) | (1.60) | (0.39) | (2.58) |  | (2.97) | 18.96 | &nbsp;&nbsp;(5.80) | 1.02 | 1.02 | 1.75 | &nbsp;&nbsp;32 | 180 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 06-30-2025<sup>3</sup> | 20.29 | 0.27 | (0.68) | (0.41) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 19.88 | &nbsp;&nbsp;(2.02)<sup>4</sup> | 0.76<sup>5</sup> | 0.76<sup>5</sup> | 2.77<sup>5</sup> | 213 | &nbsp;&nbsp;49 |
| 12-31-2024 | 18.69 | 0.38 | &nbsp;&nbsp;1.66 | &nbsp;&nbsp;2.04 | (0.44) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.44) | 20.29 | &nbsp;&nbsp;10.79 | 0.76 | 0.76 | 1.94 | 227 | &nbsp;&nbsp;70 |
| 12-31-2023 | 17.30 | 0.43 | &nbsp;&nbsp;1.69 | &nbsp;&nbsp;2.12 | (0.41) | (0.32) |  | (0.73) | 18.69 | &nbsp;&nbsp;13.06 | 0.77 | 0.76 | 2.42 | 216 | 106 |
| 12-31-2022 | 27.28 | 0.36 | (8.18) | (7.82) | (0.26) | (1.90) |  | (2.16) | 17.30 | (28.45) | 0.76 | 0.75 | 1.66 | 208 | &nbsp;&nbsp;93 |
| 12-31-2021 | 18.84 | 0.32 | &nbsp;&nbsp;8.48 | &nbsp;&nbsp;8.80 | (0.36) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.36) | 27.28 | &nbsp;&nbsp;46.80 | 0.75 | 0.74 | 1.39 | 309 | &nbsp;&nbsp;63 |
| 12-31-2020 | 23.41 | 0.41 | (1.96) | (1.55) | (0.44) | (2.58) |  | (3.02) | 18.84 | &nbsp;&nbsp;(5.58) | 0.77 | 0.77 | 2.01 | 221 | 180 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** |

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| **The accompanying notes are an integral part of the financial statements.** | 207 |

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[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

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| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period |  | Ratios and supplemental data | Ratios and supplemental data | Ratios and supplemental data |
|  |  | **Income (loss) from investment operations** | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period<br> ($) | Net<br> investment<br> income<br> (loss)<br> ($)<sup>1</sup> | Net<br> realized<br> and<br> unrealized<br> gain<br> (loss)<br> on investments<br> ($) | Total<br> from<br> investment<br> operations<br> ($) | From net<br> investment<br> income<br> ($) | From net<br> realized<br> gain<br> ($) | From tax<br> return<br> of capital<br> ($) | Total<br> distributions<br> ($) | Net asset<br> value, end<br> of period<br> ($) | Total<br> return<br> (%)<sup>2</sup> | Expenses<br> before<br> reductions<br> (%) | Expenses<br> including<br> reductions<br> (%) | Net<br> investment<br> income<br> (loss)<br> (%) | Net<br> assets,<br> end of<br> period (in<br> millions) | Portfolio<br> turnover<br> (%) |
| **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 06-30-2025<sup>3</sup> | 24.85 | (0.02) | &nbsp;&nbsp;&nbsp;1.13 | &nbsp;&nbsp;&nbsp;1.11 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 25.96 | &nbsp;&nbsp;&nbsp;4.47<sup>4</sup> | 1.05<sup>5</sup> | 0.99<sup>5</sup> | (0.19)<sup>5</sup> | 833 | 116 |
| 12-31-2024 | 18.02 | (0.10) | &nbsp;&nbsp;&nbsp;6.93 | &nbsp;&nbsp;&nbsp;6.83 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 24.85 | &nbsp;&nbsp;37.90 | 1.05 | 0.99 | (0.46) | 879 | 240 |
| 12-31-2023 | 11.65 | (0.04) | &nbsp;&nbsp;&nbsp;6.41 | &nbsp;&nbsp;&nbsp;6.37 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 18.02 | &nbsp;&nbsp;54.68 | 1.05 | 1.00 | (0.27) | 718 | 208 |
| 12-31-2022 | 36.59 | (0.15) | (13.09) | (13.24) | &nbsp;&nbsp;&nbsp;&nbsp;— | (11.70) |  | (11.70) | 11.65 | (35.67) | 1.09 | 1.04 | (0.66) | 473 | 116 |
| 12-31-2021 | 41.87 | (0.25) | &nbsp;&nbsp;&nbsp;4.10 | &nbsp;&nbsp;&nbsp;3.85 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(9.13) |  | &nbsp;&nbsp;(9.13) | 36.59 | &nbsp;&nbsp;&nbsp;8.53 | 1.11 | 1.06 | (0.58) | 834 | &nbsp;&nbsp;87 |
| 12-31-2020 | 29.43 | (0.06)<sup>6</sup> | &nbsp;&nbsp;16.39 | &nbsp;&nbsp;16.33 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(3.89) |  | &nbsp;&nbsp;(3.89) | 41.87 | &nbsp;&nbsp;57.46 | 1.11 | 1.07 | (0.16)<sup>6</sup> | 938 | 114 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 06-30-2025<sup>3</sup> | 20.43 | (0.04) | &nbsp;&nbsp;&nbsp;0.93 | &nbsp;&nbsp;&nbsp;0.89 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 21.32 | &nbsp;&nbsp;&nbsp;4.36<sup>4</sup> | 1.25<sup>5</sup> | 1.19<sup>5</sup> | (0.39)<sup>5</sup> | &nbsp;&nbsp;61 | 116 |
| 12-31-2024 | 14.84 | (0.12) | &nbsp;&nbsp;&nbsp;5.71 | &nbsp;&nbsp;&nbsp;5.59 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 20.43 | &nbsp;&nbsp;37.58 | 1.25 | 1.19 | (0.66) | &nbsp;&nbsp;65 | 240 |
| 12-31-2023 | &nbsp;&nbsp;9.62 | (0.06) | &nbsp;&nbsp;&nbsp;5.28 | &nbsp;&nbsp;&nbsp;5.22 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 14.84 | &nbsp;&nbsp;54.37 | 1.25 | 1.20 | (0.47) | &nbsp;&nbsp;61 | 208 |
| 12-31-2022 | 33.48 | (0.17) | (11.99) | (12.16) | &nbsp;&nbsp;&nbsp;&nbsp;— | (11.70) |  | (11.70) | &nbsp;&nbsp;9.62 | (35.76) | 1.29 | 1.24 | (0.86) | &nbsp;&nbsp;43 | 116 |
| 12-31-2021 | 39.08 | (0.31) | &nbsp;&nbsp;&nbsp;3.84 | &nbsp;&nbsp;&nbsp;3.53 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(9.13) |  | &nbsp;&nbsp;(9.13) | 33.48 | &nbsp;&nbsp;&nbsp;8.31 | 1.31 | 1.26 | (0.78) | &nbsp;&nbsp;79 | &nbsp;&nbsp;87 |
| 12-31-2020 | 27.71 | (0.11)<sup>6</sup> | &nbsp;&nbsp;15.37 | &nbsp;&nbsp;15.26 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(3.89) |  | &nbsp;&nbsp;(3.89) | 39.08 | &nbsp;&nbsp;57.15 | 1.31 | 1.27 | (0.35)<sup>6</sup> | &nbsp;&nbsp;84 | 114 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 06-30-2025<sup>3</sup> | 25.94 | (0.02) | &nbsp;&nbsp;&nbsp;1.19 | &nbsp;&nbsp;&nbsp;1.17 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 27.11 | &nbsp;&nbsp;&nbsp;4.51<sup>4</sup> | 1.00<sup>5</sup> | 0.94<sup>5</sup> | (0.14)<sup>5</sup> | 196 | 116 |
| 12-31-2024 | 18.80 | (0.09) | &nbsp;&nbsp;&nbsp;7.23 | &nbsp;&nbsp;&nbsp;7.14 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 25.94 | &nbsp;&nbsp;37.98 | 1.00 | 0.94 | (0.41) | 198 | 240 |
| 12-31-2023 | 12.15 | (0.04) | &nbsp;&nbsp;&nbsp;6.69 | &nbsp;&nbsp;&nbsp;6.65 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 18.80 | &nbsp;&nbsp;54.73 | 1.00 | 0.95 | (0.22) | 160 | 208 |
| 12-31-2022 | 37.35 | (0.14) | (13.36) | (13.50) | &nbsp;&nbsp;&nbsp;&nbsp;— | (11.70) |  | (11.70) | 12.15 | (35.64) | 1.04 | 0.99 | (0.60) | 105 | 116 |
| 12-31-2021 | 42.55 | (0.23) | &nbsp;&nbsp;&nbsp;4.16 | &nbsp;&nbsp;&nbsp;3.93 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(9.13) |  | &nbsp;&nbsp;(9.13) | 37.35 | &nbsp;&nbsp;&nbsp;8.58 | 1.06 | 1.01 | (0.53) | 158 | &nbsp;&nbsp;87 |
| 12-31-2020 | 29.84 | (0.05)<sup>6</sup> | &nbsp;&nbsp;16.65 | &nbsp;&nbsp;16.60 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(3.89) |  | &nbsp;&nbsp;(3.89) | 42.55 | &nbsp;&nbsp;57.58 | 1.06 | 1.02 | (0.14)<sup>6</sup> | 145 | 114 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the portfolio, which amounted to $0.18 and 0.51%, respectively.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the portfolio, which amounted to $0.18 and 0.51%, respectively.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the portfolio, which amounted to $0.18 and 0.51%, respectively.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the portfolio, which amounted to $0.18 and 0.51%, respectively.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the portfolio, which amounted to $0.18 and 0.51%, respectively.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the portfolio, which amounted to $0.18 and 0.51%, respectively.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the portfolio, which amounted to $0.18 and 0.51%, respectively.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the portfolio, which amounted to $0.18 and 0.51%, respectively.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the portfolio, which amounted to $0.18 and 0.51%, respectively.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the portfolio, which amounted to $0.18 and 0.51%, respectively.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the portfolio, which amounted to $0.18 and 0.51%, respectively.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the portfolio, which amounted to $0.18 and 0.51%, respectively.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the portfolio, which amounted to $0.18 and 0.51%, respectively.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the portfolio, which amounted to $0.18 and 0.51%, respectively.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the portfolio, which amounted to $0.18 and 0.51%, respectively.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the portfolio, which amounted to $0.18 and 0.51%, respectively.** |
| **Small Cap Core Trust** | **Small Cap Core Trust** | **Small Cap Core Trust** | **Small Cap Core Trust** | **Small Cap Core Trust** | **Small Cap Core Trust** | **Small Cap Core Trust** | **Small Cap Core Trust** | **Small Cap Core Trust** | **Small Cap Core Trust** | **Small Cap Core Trust** | **Small Cap Core Trust** | **Small Cap Core Trust** | **Small Cap Core Trust** | **Small Cap Core Trust** | **Small Cap Core Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 06-30-2025<sup>3</sup> | 13.75 | &nbsp;&nbsp;0.05 | &nbsp;&nbsp;(0.68) | &nbsp;&nbsp;(0.63) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 13.12 | &nbsp;&nbsp;(4.58)<sup>4</sup> | 1.03<sup>5</sup> | 1.02<sup>5</sup> | &nbsp;&nbsp;0.75<sup>5</sup> | 108 | 110<sup>6</sup> |
| 12-31-2024 | 13.82 | &nbsp;&nbsp;0.10 | &nbsp;&nbsp;&nbsp;0.72 | &nbsp;&nbsp;&nbsp;0.82 | (0.10) | &nbsp;&nbsp;(0.79) |  | &nbsp;&nbsp;(0.89) | 13.75 | &nbsp;&nbsp;&nbsp;5.93 | 1.05 | 1.04 | &nbsp;&nbsp;0.74 | 123 | &nbsp;&nbsp;53 |
| 12-31-2023 | 13.49 | &nbsp;&nbsp;0.10 | &nbsp;&nbsp;&nbsp;1.53 | &nbsp;&nbsp;&nbsp;1.63 | (0.05) | &nbsp;&nbsp;(1.25) |  | &nbsp;&nbsp;(1.30) | 13.82 | &nbsp;&nbsp;14.01 | 1.05 | 1.04 | &nbsp;&nbsp;0.77 | 133 | &nbsp;&nbsp;47 |
| 12-31-2022 | 18.30 | &nbsp;&nbsp;0.15 | &nbsp;&nbsp;(2.04) | &nbsp;&nbsp;(1.89) | (0.15) | &nbsp;&nbsp;(2.77) |  | &nbsp;&nbsp;(2.92) | 13.49 | (10.24) | 1.04 | 1.04 | &nbsp;&nbsp;0.93 | 140 | &nbsp;&nbsp;42 |
| 12-31-2021 | 14.70 | &nbsp;&nbsp;0.09 | &nbsp;&nbsp;&nbsp;3.75 | &nbsp;&nbsp;&nbsp;3.84 | (0.09) | &nbsp;&nbsp;(0.15) |  | &nbsp;&nbsp;(0.24) | 18.30 | &nbsp;&nbsp;26.19 | 1.03 | 1.03 | &nbsp;&nbsp;0.53 | 182 | &nbsp;&nbsp;32 |
| 12-31-2020 | 18.19 | &nbsp;&nbsp;0.08 | &nbsp;&nbsp;(1.73) | &nbsp;&nbsp;(1.65) | (0.15) | &nbsp;&nbsp;(1.69) |  | &nbsp;&nbsp;(1.84) | 14.70 | &nbsp;&nbsp;(6.70) | 1.07 | 1.06 | &nbsp;&nbsp;0.57 | 167 | &nbsp;&nbsp;34 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 06-30-2025<sup>3</sup> | 13.59 | &nbsp;&nbsp;0.04 | &nbsp;&nbsp;(0.68) | &nbsp;&nbsp;(0.64) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 12.95 | &nbsp;&nbsp;(4.71)<sup>4</sup> | 1.23<sup>5</sup> | 1.22<sup>5</sup> | &nbsp;&nbsp;0.55<sup>5</sup> | &nbsp;&nbsp;16 | 110<sup>6</sup> |
| 12-31-2024 | 13.67 | &nbsp;&nbsp;0.07 | &nbsp;&nbsp;&nbsp;0.72 | &nbsp;&nbsp;&nbsp;0.79 | (0.08) | &nbsp;&nbsp;(0.79) |  | &nbsp;&nbsp;(0.87) | 13.59 | &nbsp;&nbsp;&nbsp;5.74 | 1.25 | 1.24 | &nbsp;&nbsp;0.54 | &nbsp;&nbsp;18 | &nbsp;&nbsp;53 |
| 12-31-2023 | 13.35 | &nbsp;&nbsp;0.08 | &nbsp;&nbsp;&nbsp;1.52 | &nbsp;&nbsp;&nbsp;1.60 | (0.03) | &nbsp;&nbsp;(1.25) |  | &nbsp;&nbsp;(1.28) | 13.67 | &nbsp;&nbsp;13.85 | 1.25 | 1.24 | &nbsp;&nbsp;0.57 | &nbsp;&nbsp;20 | &nbsp;&nbsp;47 |
| 12-31-2022 | 18.15 | &nbsp;&nbsp;0.12 | &nbsp;&nbsp;(2.04) | &nbsp;&nbsp;(1.92) | (0.11) | &nbsp;&nbsp;(2.77) |  | &nbsp;&nbsp;(2.88) | 13.35 | (10.49) | 1.24 | 1.24 | &nbsp;&nbsp;0.73 | &nbsp;&nbsp;21 | &nbsp;&nbsp;42 |
| 12-31-2021 | 14.58 | &nbsp;&nbsp;0.06 | &nbsp;&nbsp;&nbsp;3.72 | &nbsp;&nbsp;&nbsp;3.78 | (0.06) | &nbsp;&nbsp;(0.15) |  | &nbsp;&nbsp;(0.21) | 18.15 | &nbsp;&nbsp;25.97 | 1.23 | 1.23 | &nbsp;&nbsp;0.34 | &nbsp;&nbsp;27 | &nbsp;&nbsp;32 |
| 12-31-2020 | 18.07 | &nbsp;&nbsp;0.05 | &nbsp;&nbsp;(1.73) | &nbsp;&nbsp;(1.68) | (0.12) | &nbsp;&nbsp;(1.69) |  | &nbsp;&nbsp;(1.81) | 14.58 | &nbsp;&nbsp;(6.95) | 1.27 | 1.26 | &nbsp;&nbsp;0.37 | &nbsp;&nbsp;23 | &nbsp;&nbsp;34 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 06-30-2025<sup>3</sup> | 13.66 | &nbsp;&nbsp;0.05 | &nbsp;&nbsp;(0.67) | &nbsp;&nbsp;(0.62) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 13.04 | &nbsp;&nbsp;(4.54)<sup>4</sup> | 0.98<sup>5</sup> | 0.97<sup>5</sup> | &nbsp;&nbsp;0.82<sup>5</sup> | 165 | 110<sup>6</sup> |
| 12-31-2024 | 13.73 | &nbsp;&nbsp;0.11 | &nbsp;&nbsp;&nbsp;0.72 | &nbsp;&nbsp;&nbsp;0.83 | (0.11) | &nbsp;&nbsp;(0.79) |  | &nbsp;&nbsp;(0.90) | 13.66 | &nbsp;&nbsp;&nbsp;6.01 | 1.00 | 0.99 | &nbsp;&nbsp;0.79 | 301 | &nbsp;&nbsp;53 |
| 12-31-2023 | 13.41 | &nbsp;&nbsp;0.11 | &nbsp;&nbsp;&nbsp;1.52 | &nbsp;&nbsp;&nbsp;1.63 | (0.06) | &nbsp;&nbsp;(1.25) |  | &nbsp;&nbsp;(1.31) | 13.73 | &nbsp;&nbsp;14.07 | 1.00 | 0.99 | &nbsp;&nbsp;0.83 | 309 | &nbsp;&nbsp;47 |
| 12-31-2022 | 18.22 | &nbsp;&nbsp;0.16 | &nbsp;&nbsp;(2.04) | &nbsp;&nbsp;(1.88) | (0.16) | &nbsp;&nbsp;(2.77) |  | &nbsp;&nbsp;(2.93) | 13.41 | (10.25) | 0.99 | 0.99 | &nbsp;&nbsp;0.98 | 271 | &nbsp;&nbsp;42 |
| 12-31-2021 | 14.63 | &nbsp;&nbsp;0.10 | &nbsp;&nbsp;&nbsp;3.74 | &nbsp;&nbsp;&nbsp;3.84 | (0.10) | &nbsp;&nbsp;(0.15) |  | &nbsp;&nbsp;(0.25) | 18.22 | &nbsp;&nbsp;26.30 | 0.98 | 0.98 | &nbsp;&nbsp;0.59 | 344 | &nbsp;&nbsp;32 |
| 12-31-2020 | 18.12 | &nbsp;&nbsp;0.09 | &nbsp;&nbsp;(1.73) | &nbsp;&nbsp;(1.64) | (0.16) | &nbsp;&nbsp;(1.69) |  | &nbsp;&nbsp;(1.85) | 14.63 | &nbsp;&nbsp;(6.68) | 1.02 | 1.01 | &nbsp;&nbsp;0.64 | 298 | &nbsp;&nbsp;34 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** |

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| **The accompanying notes are an integral part of the financial statements.** | 208 |

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[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

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| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period |  | Ratios and supplemental data | Ratios and supplemental data | Ratios and supplemental data |
|  |  | **Income (loss) from investment operations** | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period<br> ($) | Net<br> investment<br> income<br> (loss)<br> ($)<sup>1</sup> | Net<br> realized<br> and<br> unrealized<br> gain<br> (loss)<br> on investments<br> ($) | Total<br> from<br> investment<br> operations<br> ($) | From net<br> investment<br> income<br> ($) | From net<br> realized<br> gain<br> ($) | From tax<br> return<br> of capital<br> ($) | Total<br> distributions<br> ($) | Net asset<br> value, end<br> of period<br> ($) | Total<br> return<br> (%)<sup>2</sup> | Expenses<br> before<br> reductions<br> (%) | Expenses<br> including<br> reductions<br> (%) | Net<br> investment<br> income<br> (loss)<br> (%) | Net<br> assets,<br> end of<br> period (in<br> millions) | Portfolio<br> turnover<br> (%) |
| **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 06-30-2025<sup>3</sup> | 14.11 | 0.07 | (0.35) | (0.28) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 13.83 | &nbsp;&nbsp;(1.98)<sup>4</sup> | 0.59<sup>5</sup> | 0.53<sup>5</sup> | 1.10<sup>5</sup> | 337 | &nbsp;&nbsp;8 |
| 12-31-2024 | 13.08 | 0.13 | &nbsp;&nbsp;1.29 | &nbsp;&nbsp;1.42 | (0.07) | (0.32) |  | (0.39) | 14.11 | &nbsp;&nbsp;10.84 | 0.59 | 0.53 | 0.93 | 368 | 13 |
| 12-31-2023 | 11.57 | 0.15 | &nbsp;&nbsp;1.69 | &nbsp;&nbsp;1.84 | (0.15) | (0.18) |  | (0.33) | 13.08 | &nbsp;&nbsp;16.49 | 0.59 | 0.53 | 1.21 | 367 | 11 |
| 12-31-2022 | 17.26 | 0.12 | (3.65) | (3.53) | (0.15) | (2.01) |  | (2.16) | 11.57 | (20.65) | 0.58 | 0.53 | 0.88 | 341 | 13 |
| 12-31-2021 | 16.31 | 0.12 | &nbsp;&nbsp;2.27 | &nbsp;&nbsp;2.39 | (0.10) | (1.34) |  | (1.44) | 17.26 | &nbsp;&nbsp;14.49 | 0.57 | 0.51 | 0.67 | 460 | 20 |
| 12-31-2020 | 14.94 | 0.10 | &nbsp;&nbsp;2.50 | &nbsp;&nbsp;2.60 | (0.20) | (1.03) |  | (1.23) | 16.31 | &nbsp;&nbsp;19.29 | 0.59 | 0.53 | 0.74 | 427 | 16 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 06-30-2025<sup>3</sup> | 13.97 | 0.06 | (0.35) | (0.29) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 13.68 | &nbsp;&nbsp;(2.08)<sup>4</sup> | 0.79<sup>5</sup> | 0.73<sup>5</sup> | 0.90<sup>5</sup> | &nbsp;&nbsp;23 | &nbsp;&nbsp;8 |
| 12-31-2024 | 12.96 | 0.10 | &nbsp;&nbsp;1.27 | &nbsp;&nbsp;1.37 | (0.04) | (0.32) |  | (0.36) | 13.97 | &nbsp;&nbsp;10.60 | 0.79 | 0.73 | 0.72 | &nbsp;&nbsp;26 | 13 |
| 12-31-2023 | 11.47 | 0.12 | &nbsp;&nbsp;1.68 | &nbsp;&nbsp;1.80 | (0.13) | (0.18) |  | (0.31) | 12.96 | &nbsp;&nbsp;16.22 | 0.79 | 0.73 | 1.01 | &nbsp;&nbsp;27 | 11 |
| 12-31-2022 | 17.13 | 0.09 | (3.62) | (3.53) | (0.12) | (2.01) |  | (2.13) | 11.47 | (20.81) | 0.78 | 0.73 | 0.67 | &nbsp;&nbsp;26 | 13 |
| 12-31-2021 | 16.20 | 0.08 | &nbsp;&nbsp;2.26 | &nbsp;&nbsp;2.34 | (0.07) | (1.34) |  | (1.41) | 17.13 | &nbsp;&nbsp;14.25 | 0.77 | 0.71 | 0.46 | &nbsp;&nbsp;37 | 20 |
| 12-31-2020 | 14.85 | 0.07 | &nbsp;&nbsp;2.48 | &nbsp;&nbsp;2.55 | (0.17) | (1.03) |  | (1.20) | 16.20 | &nbsp;&nbsp;19.05 | 0.79 | 0.73 | 0.54 | &nbsp;&nbsp;36 | 16 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 06-30-2025<sup>3</sup> | 14.13 | 0.08 | (0.35) | (0.27) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 13.86 | &nbsp;&nbsp;(1.91)<sup>4</sup> | 0.54<sup>5</sup> | 0.48<sup>5</sup> | 1.16<sup>5</sup> | 145 | &nbsp;&nbsp;8 |
| 12-31-2024 | 13.10 | 0.13 | &nbsp;&nbsp;1.29 | &nbsp;&nbsp;1.42 | (0.07) | (0.32) |  | (0.39) | 14.13 | &nbsp;&nbsp;10.87 | 0.54 | 0.48 | 0.97 | 147 | 13 |
| 12-31-2023 | 11.59 | 0.15 | &nbsp;&nbsp;1.70 | &nbsp;&nbsp;1.85 | (0.16) | (0.18) |  | (0.34) | 13.10 | &nbsp;&nbsp;16.52 | 0.54 | 0.48 | 1.26 | 146 | 11 |
| 12-31-2022 | 17.29 | 0.13 | (3.66) | (3.53) | (0.16) | (2.01) |  | (2.17) | 11.59 | (20.63) | 0.53 | 0.48 | 0.92 | 125 | 13 |
| 12-31-2021 | 16.33 | 0.13 | &nbsp;&nbsp;2.28 | &nbsp;&nbsp;2.41 | (0.11) | (1.34) |  | (1.45) | 17.29 | &nbsp;&nbsp;14.59 | 0.52 | 0.46 | 0.73 | 169 | 20 |
| 12-31-2020 | 14.96 | 0.11 | &nbsp;&nbsp;2.49 | &nbsp;&nbsp;2.60 | (0.20) | (1.03) |  | (1.23) | 16.33 | &nbsp;&nbsp;19.32 | 0.54 | 0.48 | 0.78 | 144 | 16 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** |
| **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 06-30-2025<sup>3</sup> | 27.84 | 0.12 | (0.89) | (0.77) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 27.07 | &nbsp;&nbsp;(2.77)<sup>4</sup> | 1.14<sup>5</sup> | 0.92<sup>5</sup> | 0.92<sup>5</sup> | &nbsp;&nbsp;77 | 42<sup>6</sup> |
| 12-31-2024 | 27.34 | 0.29 | &nbsp;&nbsp;2.04 | &nbsp;&nbsp;2.33 | (0.16) | (1.67) |  | (1.83) | 27.84 | &nbsp;&nbsp;&nbsp;8.58 | 1.15 | 0.88 | 1.03 | &nbsp;&nbsp;84 | 24 |
| 12-31-2023 | 25.71 | 0.16 | &nbsp;&nbsp;3.99 | &nbsp;&nbsp;4.15 | (0.11) | (2.41) |  | (2.52) | 27.34 | &nbsp;&nbsp;18.05 | 1.15 | 0.89 | 0.61 | &nbsp;&nbsp;85 | 18 |
| 12-31-2022 | 33.56 | 0.11 | (3.55) | (3.44) | (0.16) | (4.25) |  | (4.41) | 25.71 | (10.07) | 1.15 | 0.89 | 0.38 | &nbsp;&nbsp;78 | 27 |
| 12-31-2021 | 26.24 | 0.19 | &nbsp;&nbsp;7.96 | &nbsp;&nbsp;8.15 | (0.15) | (0.68) |  | (0.83) | 33.56 | &nbsp;&nbsp;31.10 | 1.14 | 0.91 | 0.61 | &nbsp;&nbsp;95 | 28 |
| 12-31-2020 | 25.52 | 0.13 | &nbsp;&nbsp;2.07 | &nbsp;&nbsp;2.20 | (0.16) | (1.32) |  | (1.48) | 26.24 | &nbsp;&nbsp;&nbsp;9.88 | 1.17 | 1.00 | 0.58 | &nbsp;&nbsp;81 | 28 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 06-30-2025<sup>3</sup> | 26.89 | 0.09 | (0.86) | (0.77) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 26.12 | &nbsp;&nbsp;(2.86)<sup>4</sup> | 1.34<sup>5</sup> | 1.12<sup>5</sup> | 0.71<sup>5</sup> | &nbsp;&nbsp;25 | 42<sup>6</sup> |
| 12-31-2024 | 26.47 | 0.22 | &nbsp;&nbsp;1.98 | &nbsp;&nbsp;2.20 | (0.11) | (1.67) |  | (1.78) | 26.89 | &nbsp;&nbsp;&nbsp;8.37 | 1.35 | 1.08 | 0.83 | &nbsp;&nbsp;28 | 24 |
| 12-31-2023 | 24.97 | 0.10 | &nbsp;&nbsp;3.87 | &nbsp;&nbsp;3.97 | (0.06) | (2.41) |  | (2.47) | 26.47 | &nbsp;&nbsp;17.83 | 1.35 | 1.09 | 0.40 | &nbsp;&nbsp;29 | 18 |
| 12-31-2022 | 32.73 | 0.05 | (3.47) | (3.42) | (0.09) | (4.25) |  | (4.34) | 24.97 | (10.24) | 1.35 | 1.09 | 0.18 | &nbsp;&nbsp;28 | 27 |
| 12-31-2021 | 25.61 | 0.12 | &nbsp;&nbsp;7.78 | &nbsp;&nbsp;7.90 | (0.10) | (0.68) |  | (0.78) | 32.73 | &nbsp;&nbsp;30.85 | 1.34 | 1.11 | 0.39 | &nbsp;&nbsp;35 | 28 |
| 12-31-2020 | 24.96 | 0.08 | &nbsp;&nbsp;2.01 | &nbsp;&nbsp;2.09 | (0.12) | (1.32) |  | (1.44) | 25.61 | &nbsp;&nbsp;&nbsp;9.65 | 1.37 | 1.20 | 0.38 | &nbsp;&nbsp;30 | 28 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 06-30-2025<sup>3</sup> | 27.54 | 0.12 | (0.88) | (0.76) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 26.78 | &nbsp;&nbsp;(2.76)<sup>4</sup> | 1.09<sup>5</sup> | 0.87<sup>5</sup> | 0.98<sup>5</sup> | &nbsp;&nbsp;61 | 42<sup>6</sup> |
| 12-31-2024 | 27.06 | 0.30 | &nbsp;&nbsp;2.02 | &nbsp;&nbsp;2.32 | (0.17) | (1.67) |  | (1.84) | 27.54 | &nbsp;&nbsp;&nbsp;8.64 | 1.10 | 0.83 | 1.07 | &nbsp;&nbsp;58 | 24 |
| 12-31-2023 | 25.47 | 0.17 | &nbsp;&nbsp;3.95 | &nbsp;&nbsp;4.12 | (0.12) | (2.41) |  | (2.53) | 27.06 | &nbsp;&nbsp;18.12 | 1.10 | 0.84 | 0.66 | &nbsp;&nbsp;59 | 18 |
| 12-31-2022 | 33.30 | 0.14 | (3.55) | (3.41) | (0.17) | (4.25) |  | (4.42) | 25.47 | (10.03) | 1.10 | 0.84 | 0.48 | &nbsp;&nbsp;46 | 27 |
| 12-31-2021 | 26.04 | 0.21 | &nbsp;&nbsp;7.90 | &nbsp;&nbsp;8.11 | (0.17) | (0.68) |  | (0.85) | 33.30 | &nbsp;&nbsp;31.16 | 1.09 | 0.86 | 0.67 | &nbsp;&nbsp;38 | 28 |
| 12-31-2020 | 25.34 | 0.14 | &nbsp;&nbsp;2.06 | &nbsp;&nbsp;2.20 | (0.18) | (1.32) |  | (1.50) | 26.04 | &nbsp;&nbsp;&nbsp;9.92 | 1.12 | 0.95 | 0.63 | &nbsp;&nbsp;30 | 28 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** |

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| **The accompanying notes are an integral part of the financial statements.** | 209 |

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[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

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| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period |  | Ratios and supplemental data | Ratios and supplemental data | Ratios and supplemental data |
|  |  | **Income (loss) from investment operations** | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period<br> ($) | Net<br> investment<br> income<br> (loss)<br> ($)<sup>1</sup> | Net<br> realized<br> and<br> unrealized<br> gain<br> (loss)<br> on investments<br> ($) | Total<br> from<br> investment<br> operations<br> ($) | From net<br> investment<br> income<br> ($) | From net<br> realized<br> gain<br> ($) | From tax<br> return<br> of capital<br> ($) | Total<br> distributions<br> ($) | Net asset<br> value, end<br> of period<br> ($) | Total<br> return<br> (%)<sup>2</sup> | Expenses<br> before<br> reductions<br> (%) | Expenses<br> including<br> reductions<br> (%) | Net<br> investment<br> income<br> (loss)<br> (%) | Net<br> assets,<br> end of<br> period (in<br> millions) | Portfolio<br> turnover<br> (%) |
| **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 06-30-2025<sup>3</sup> | &nbsp;&nbsp;6.52 | (0.02) | (0.08) | (0.10) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;6.42 | &nbsp;&nbsp;(1.53)<sup>4</sup> | 1.13<sup>5</sup> | 1.12<sup>5</sup> | (0.55)<sup>5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;67 | &nbsp;&nbsp;35 |
| 12-31-2024 | &nbsp;&nbsp;5.84 | (0.03) | &nbsp;&nbsp;0.71 | &nbsp;&nbsp;0.68 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;6.52 | &nbsp;&nbsp;11.64 | 1.13 | 1.12 | (0.49) | &nbsp;&nbsp;&nbsp;&nbsp;73 | &nbsp;&nbsp;47 |
| 12-31-2023 | &nbsp;&nbsp;5.03 | (0.02) | &nbsp;&nbsp;0.83 | &nbsp;&nbsp;0.81 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;5.84 | &nbsp;&nbsp;16.10 | 1.14 | 1.13 | (0.45) | &nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;41 |
| 12-31-2022 | 10.26 | (0.03) | (3.11) | (3.14) | &nbsp;&nbsp;&nbsp;&nbsp;— | (2.09) |  | (2.09) | &nbsp;&nbsp;5.03 | (31.12) | 1.13 | 1.12 | (0.43) | &nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp;86 |
| 12-31-2021 | 11.92 | (0.11) | &nbsp;&nbsp;0.29 | &nbsp;&nbsp;0.18 | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.84) |  | (1.84) | 10.26 | &nbsp;&nbsp;&nbsp;1.20 | 1.11 | 1.10 | (0.88) | &nbsp;&nbsp;&nbsp;114 | 107 |
| 12-31-2020 | &nbsp;&nbsp;8.88 | (0.06) | &nbsp;&nbsp;4.37 | &nbsp;&nbsp;4.31 | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.27) |  | (1.27) | 11.92 | &nbsp;&nbsp;51.54 | 1.12 | 1.11 | (0.65) | &nbsp;&nbsp;&nbsp;137 | 113 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 06-30-2025<sup>3</sup> | &nbsp;&nbsp;5.52 | (0.02) | (0.07) | (0.09) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;5.43 | &nbsp;&nbsp;(1.63)<sup>4</sup> | 1.33<sup>5</sup> | 1.32<sup>5</sup> | (0.76)<sup>5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;17 | &nbsp;&nbsp;35 |
| 12-31-2024 | &nbsp;&nbsp;4.96 | (0.04) | &nbsp;&nbsp;0.60 | &nbsp;&nbsp;0.56 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;5.52 | &nbsp;&nbsp;11.29 | 1.33 | 1.32 | (0.69) | &nbsp;&nbsp;&nbsp;&nbsp;19 | &nbsp;&nbsp;47 |
| 12-31-2023 | &nbsp;&nbsp;4.28 | (0.03) | &nbsp;&nbsp;0.71 | &nbsp;&nbsp;0.68 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;4.96 | &nbsp;&nbsp;15.89 | 1.34 | 1.33 | (0.65) | &nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;41 |
| 12-31-2022 | &nbsp;&nbsp;9.19 | (0.04) | (2.78) | (2.82) | &nbsp;&nbsp;&nbsp;&nbsp;— | (2.09) |  | (2.09) | &nbsp;&nbsp;4.28 | (31.25) | 1.33 | 1.32 | (0.63) | &nbsp;&nbsp;&nbsp;&nbsp;21 | &nbsp;&nbsp;86 |
| 12-31-2021 | 10.88 | (0.12) | &nbsp;&nbsp;0.27 | &nbsp;&nbsp;0.15 | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.84) |  | (1.84) | &nbsp;&nbsp;9.19 | &nbsp;&nbsp;&nbsp;1.06 | 1.31 | 1.30 | (1.08) | &nbsp;&nbsp;&nbsp;&nbsp;35 | 107 |
| 12-31-2020 | &nbsp;&nbsp;8.21 | (0.07) | &nbsp;&nbsp;4.01 | &nbsp;&nbsp;3.94 | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.27) |  | (1.27) | 10.88 | &nbsp;&nbsp;51.23 | 1.32 | 1.31 | (0.85) | &nbsp;&nbsp;&nbsp;&nbsp;42 | 113 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 06-30-2025<sup>3</sup> | &nbsp;&nbsp;6.76 | (0.02) | (0.08) | (0.10) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;6.66 | &nbsp;&nbsp;(1.48)<sup>4</sup> | 1.08<sup>5</sup> | 1.07<sup>5</sup> | (0.50)<sup>5</sup> | &nbsp;&nbsp;&nbsp;191 | &nbsp;&nbsp;35 |
| 12-31-2024 | &nbsp;&nbsp;6.06 | (0.03) | &nbsp;&nbsp;0.73 | &nbsp;&nbsp;0.70 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;6.76 | &nbsp;&nbsp;11.55 | 1.08 | 1.07 | (0.44) | &nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;47 |
| 12-31-2023 | &nbsp;&nbsp;5.21 | (0.02) | &nbsp;&nbsp;0.87 | &nbsp;&nbsp;0.85 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;6.06 | &nbsp;&nbsp;16.31 | 1.09 | 1.08 | (0.40) | &nbsp;&nbsp;&nbsp;184 | &nbsp;&nbsp;41 |
| 12-31-2022 | 10.52 | (0.03) | (3.19) | (3.22) | &nbsp;&nbsp;&nbsp;&nbsp;— | (2.09) |  | (2.09) | &nbsp;&nbsp;5.21 | (31.13) | 1.08 | 1.07 | (0.38) | &nbsp;&nbsp;&nbsp;162 | &nbsp;&nbsp;86 |
| 12-31-2021 | 12.17 | (0.10) | &nbsp;&nbsp;0.29 | &nbsp;&nbsp;0.19 | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.84) |  | (1.84) | 10.52 | &nbsp;&nbsp;&nbsp;1.27 | 1.06 | 1.05 | (0.83) | &nbsp;&nbsp;&nbsp;258 | 107 |
| 12-31-2020 | &nbsp;&nbsp;9.04 | (0.06) | &nbsp;&nbsp;4.46 | &nbsp;&nbsp;4.40 | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.27) |  | (1.27) | 12.17 | &nbsp;&nbsp;51.62 | 1.07 | 1.06 | (0.60) | &nbsp;&nbsp;&nbsp;261 | 113 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** |
| **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 06-30-2025<sup>3</sup> | &nbsp;&nbsp;9.66 | &nbsp;&nbsp;0.03 | (0.26) | (0.23) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;9.43 | &nbsp;&nbsp;(2.38)<sup>4</sup> | 1.20<sup>5</sup> | 1.13<sup>5</sup> | &nbsp;&nbsp;0.70<sup>5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;37 | &nbsp;&nbsp;21 |
| 12-31-2024 | &nbsp;&nbsp;9.16 | &nbsp;&nbsp;0.05 | &nbsp;&nbsp;0.88 | &nbsp;&nbsp;0.93 | (0.05) | (0.38) |  | (0.43) | &nbsp;&nbsp;9.66 | &nbsp;&nbsp;10.20 | 1.20 | 1.12 | &nbsp;&nbsp;0.51 | &nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;32 |
| 12-31-2023 | &nbsp;&nbsp;8.79 | &nbsp;&nbsp;0.05 | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;1.05 | (0.02) | (0.66) |  | (0.68) | &nbsp;&nbsp;9.16 | &nbsp;&nbsp;13.49 | 1.21 | 1.14 | &nbsp;&nbsp;0.57 | &nbsp;&nbsp;&nbsp;&nbsp;43 | &nbsp;&nbsp;28 |
| 12-31-2022 | 12.59 | &nbsp;&nbsp;0.03 | (2.37) | (2.34) | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.46) |  | (1.46) | &nbsp;&nbsp;8.79 | (18.73) | 1.20 | 1.13 | &nbsp;&nbsp;0.25 | &nbsp;&nbsp;&nbsp;&nbsp;43 | &nbsp;&nbsp;26 |
| 12-31-2021 | 10.55 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>6</sup> | &nbsp;&nbsp;2.39 | &nbsp;&nbsp;2.39 | (0.04) | (0.31) |  | (0.35) | 12.59 | &nbsp;&nbsp;22.70 | 1.18 | 1.11 | (0.02) | &nbsp;&nbsp;&nbsp;&nbsp;58 | &nbsp;&nbsp;23 |
| 12-31-2020 | 10.36 | &nbsp;&nbsp;0.03 | &nbsp;&nbsp;0.80 | &nbsp;&nbsp;0.83 | (0.03) | (0.61) |  | (0.64) | 10.55 | &nbsp;&nbsp;&nbsp;9.24 | 1.19 | 1.13 | &nbsp;&nbsp;0.38 | &nbsp;&nbsp;&nbsp;&nbsp;54 | &nbsp;&nbsp;30 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 06-30-2025<sup>3</sup> | &nbsp;&nbsp;9.01 | &nbsp;&nbsp;0.02 | (0.24) | (0.22) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;8.79 | &nbsp;&nbsp;(2.44)<sup>4</sup> | 1.40<sup>5</sup> | 1.33<sup>5</sup> | &nbsp;&nbsp;0.50<sup>5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;27 | &nbsp;&nbsp;21 |
| 12-31-2024 | &nbsp;&nbsp;8.58 | &nbsp;&nbsp;0.03 | &nbsp;&nbsp;0.82 | &nbsp;&nbsp;0.85 | (0.04) | (0.38) |  | (0.42) | &nbsp;&nbsp;9.01 | &nbsp;&nbsp;&nbsp;9.88 | 1.40 | 1.32 | &nbsp;&nbsp;0.31 | &nbsp;&nbsp;&nbsp;&nbsp;29 | &nbsp;&nbsp;32 |
| 12-31-2023 | &nbsp;&nbsp;8.27 | &nbsp;&nbsp;0.03 | &nbsp;&nbsp;0.95 | &nbsp;&nbsp;0.98 | (0.01) | (0.66) |  | (0.67) | &nbsp;&nbsp;8.58 | &nbsp;&nbsp;13.38 | 1.41 | 1.34 | &nbsp;&nbsp;0.37 | &nbsp;&nbsp;&nbsp;&nbsp;32 | &nbsp;&nbsp;28 |
| 12-31-2022 | 11.98 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>6</sup> | (2.25) | (2.25) | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.46) |  | (1.46) | &nbsp;&nbsp;8.27 | (18.95) | 1.40 | 1.33 | &nbsp;&nbsp;0.05 | &nbsp;&nbsp;&nbsp;&nbsp;32 | &nbsp;&nbsp;26 |
| 12-31-2021 | 10.05 | (0.03) | &nbsp;&nbsp;2.29 | &nbsp;&nbsp;2.26 | (0.02) | (0.31) |  | (0.33) | 11.98 | &nbsp;&nbsp;22.51 | 1.38 | 1.31 | (0.22) | &nbsp;&nbsp;&nbsp;&nbsp;44 | &nbsp;&nbsp;23 |
| 12-31-2020 | &nbsp;&nbsp;9.90 | &nbsp;&nbsp;0.02 | &nbsp;&nbsp;0.75 | &nbsp;&nbsp;0.77 | (0.01) | (0.61) |  | (0.62) | 10.05 | &nbsp;&nbsp;&nbsp;9.07 | 1.39 | 1.33 | &nbsp;&nbsp;0.18 | &nbsp;&nbsp;&nbsp;&nbsp;43 | &nbsp;&nbsp;30 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 06-30-2025<sup>3</sup> | &nbsp;&nbsp;9.59 | &nbsp;&nbsp;0.03 | (0.26) | (0.23) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;9.36 | &nbsp;&nbsp;(2.40)<sup>4</sup> | 1.15<sup>5</sup> | 1.08<sup>5</sup> | &nbsp;&nbsp;0.75<sup>5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;57 | &nbsp;&nbsp;21 |
| 12-31-2024 | &nbsp;&nbsp;9.09 | &nbsp;&nbsp;0.05 | &nbsp;&nbsp;0.89 | &nbsp;&nbsp;0.94 | (0.06) | (0.38) |  | (0.44) | &nbsp;&nbsp;9.59 | &nbsp;&nbsp;10.32 | 1.15 | 1.07 | &nbsp;&nbsp;0.56 | &nbsp;&nbsp;&nbsp;&nbsp;58 | &nbsp;&nbsp;32 |
| 12-31-2023 | &nbsp;&nbsp;8.73 | &nbsp;&nbsp;0.06 | &nbsp;&nbsp;0.99 | &nbsp;&nbsp;1.05 | (0.03) | (0.66) |  | (0.69) | &nbsp;&nbsp;9.09 | &nbsp;&nbsp;13.52 | 1.16 | 1.09 | &nbsp;&nbsp;0.62 | &nbsp;&nbsp;&nbsp;&nbsp;55 | &nbsp;&nbsp;28 |
| 12-31-2022 | 12.51 | &nbsp;&nbsp;0.03 | (2.35) | (2.32) | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.46) |  | (1.46) | &nbsp;&nbsp;8.73 | (18.70) | 1.15 | 1.08 | &nbsp;&nbsp;0.30 | &nbsp;&nbsp;&nbsp;&nbsp;55 | &nbsp;&nbsp;26 |
| 12-31-2021 | 10.48 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>6</sup> | &nbsp;&nbsp;2.39 | &nbsp;&nbsp;2.39 | (0.05) | (0.31) |  | (0.36) | 12.51 | &nbsp;&nbsp;22.81 | 1.13 | 1.06 | &nbsp;&nbsp;0.04 | &nbsp;&nbsp;&nbsp;&nbsp;68 | &nbsp;&nbsp;23 |
| 12-31-2020 | 10.30 | &nbsp;&nbsp;0.04 | &nbsp;&nbsp;0.78 | &nbsp;&nbsp;0.82 | (0.03) | (0.61) |  | (0.64) | 10.48 | &nbsp;&nbsp;&nbsp;9.25 | 1.14 | 1.08 | &nbsp;&nbsp;0.42 | &nbsp;&nbsp;&nbsp;&nbsp;58 | &nbsp;&nbsp;30 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized. 6 Less than $0.005 per share.** |
| **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 06-30-2025<sup>3</sup> | 17.74 | &nbsp;&nbsp;0.16 | &nbsp;&nbsp;1.55 | &nbsp;&nbsp;1.71 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 19.45 | &nbsp;&nbsp;&nbsp;9.64<sup>4</sup> | 0.68<sup>5</sup> | 0.54<sup>5</sup> | &nbsp;&nbsp;1.79<sup>5</sup> | 6991 | &nbsp;&nbsp;&nbsp;&nbsp;2 |
| 12-31-2024 | 17.09 | &nbsp;&nbsp;0.27 | &nbsp;&nbsp;2.42 | &nbsp;&nbsp;2.69 | (0.28) | (1.76) |  | (2.04) | 17.74 | &nbsp;&nbsp;15.65 | 0.68 | 0.53 | &nbsp;&nbsp;1.46 | 6983 | &nbsp;&nbsp;&nbsp;&nbsp;4 |
| 12-31-2023 | 15.20 | &nbsp;&nbsp;0.27 | &nbsp;&nbsp;2.88 | &nbsp;&nbsp;3.15 | (0.27) | (0.99) |  | (1.26) | 17.09 | &nbsp;&nbsp;21.86 | 0.68 | 0.54 | &nbsp;&nbsp;1.65 | 7219 | &nbsp;&nbsp;&nbsp;&nbsp;4 |
| 12-31-2022 | 22.63 | &nbsp;&nbsp;0.30 | (4.26) | (3.96) | (0.30) | (3.17) |  | (3.47) | 15.20 | (16.98) | 0.67 | 0.53 | &nbsp;&nbsp;1.58 | 6905 | &nbsp;&nbsp;&nbsp;&nbsp;4 |
| 12-31-2021 | 20.98 | &nbsp;&nbsp;0.29 | &nbsp;&nbsp;4.08 | &nbsp;&nbsp;4.37 | (0.42) | (2.30) |  | (2.72) | 22.63 | &nbsp;&nbsp;21.15 | 0.66 | 0.53 | &nbsp;&nbsp;1.27 | 9291 | &nbsp;&nbsp;&nbsp;&nbsp;6 |
| 12-31-2020 | 20.30 | &nbsp;&nbsp;0.31 | &nbsp;&nbsp;2.34 | &nbsp;&nbsp;2.65 | (0.40) | (1.57) |  | (1.97) | 20.98 | &nbsp;&nbsp;14.34 | 0.67 | 0.53 | &nbsp;&nbsp;1.61 | 9383 | &nbsp;&nbsp;&nbsp;&nbsp;7 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** |

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|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 210 |

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[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

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| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period |  | Ratios and supplemental data | Ratios and supplemental data | Ratios and supplemental data |
|  |  | **Income (loss) from investment operations** | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period<br> ($) | Net<br> investment<br> income<br> (loss)<br> ($)<sup>1</sup> | Net<br> realized<br> and<br> unrealized<br> gain<br> (loss)<br> on investments<br> ($) | Total<br> from<br> investment<br> operations<br> ($) | From net<br> investment<br> income<br> ($) | From net<br> realized<br> gain<br> ($) | From tax<br> return<br> of capital<br> ($) | Total<br> distributions<br> ($) | Net asset<br> value, end<br> of period<br> ($) | Total<br> return<br> (%)<sup>2</sup> | Expenses<br> before<br> reductions<br> (%) | Expenses<br> including<br> reductions<br> (%) | Net<br> investment<br> income<br> (loss)<br> (%) | Net<br> assets,<br> end of<br> period (in<br> millions) | Portfolio<br> turnover<br> (%) |
| **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 06-30-2025<sup>3</sup> | 28.71 | &nbsp;&nbsp;0.13 | &nbsp;&nbsp;1.46 | &nbsp;&nbsp;1.59 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 30.30 | &nbsp;&nbsp;&nbsp;5.54<sup>4</sup> | 0.57<sup>5</sup> | 0.49<sup>5</sup> | &nbsp;&nbsp;0.94<sup>5</sup> | 564 | &nbsp;&nbsp;4 |
| 12-31-2024 | 24.29 | &nbsp;&nbsp;0.27 | &nbsp;&nbsp;5.41 | &nbsp;&nbsp;5.68 | (0.14) | (1.12) |  | (1.26) | 28.71 | &nbsp;&nbsp;23.48 | 0.57 | 0.49 | &nbsp;&nbsp;0.99 | 568 | &nbsp;&nbsp;3 |
| 12-31-2023 | 20.82 | &nbsp;&nbsp;0.27 | &nbsp;&nbsp;4.82 | &nbsp;&nbsp;5.09 | (0.25) | (1.37) |  | (1.62) | 24.29 | &nbsp;&nbsp;25.53 | 0.58 | 0.50 | &nbsp;&nbsp;1.18 | 507 | &nbsp;&nbsp;2 |
| 12-31-2022 | 30.88 | &nbsp;&nbsp;0.27 | (6.54) | (6.27) | (0.28) | (3.51) |  | (3.79) | 20.82 | (20.41) | 0.57 | 0.49 | &nbsp;&nbsp;1.06 | 442 | &nbsp;&nbsp;1 |
| 12-31-2021 | 26.26 | &nbsp;&nbsp;0.26 | &nbsp;&nbsp;6.12 | &nbsp;&nbsp;6.38 | (0.33) | (1.43) |  | (1.76) | 30.88 | &nbsp;&nbsp;24.45 | 0.56 | 0.48 | &nbsp;&nbsp;0.87 | 629 | &nbsp;&nbsp;8 |
| 12-31-2020 | 24.04 | &nbsp;&nbsp;0.34 | &nbsp;&nbsp;4.49 | &nbsp;&nbsp;4.83 | (0.44) | (2.17) |  | (2.61) | 26.26 | &nbsp;&nbsp;21.45 | 0.58 | 0.50 | &nbsp;&nbsp;1.42 | 554 | &nbsp;&nbsp;2 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 06-30-2025<sup>3</sup> | 28.50 | &nbsp;&nbsp;0.10 | &nbsp;&nbsp;1.45 | &nbsp;&nbsp;1.55 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 30.05 | &nbsp;&nbsp;&nbsp;5.44<sup>4</sup> | 0.77<sup>5</sup> | 0.69<sup>5</sup> | &nbsp;&nbsp;0.74<sup>5</sup> | &nbsp;&nbsp;48 | &nbsp;&nbsp;4 |
| 12-31-2024 | 24.13 | &nbsp;&nbsp;0.21 | &nbsp;&nbsp;5.38 | &nbsp;&nbsp;5.59 | (0.10) | (1.12) |  | (1.22) | 28.50 | &nbsp;&nbsp;23.23 | 0.77 | 0.69 | &nbsp;&nbsp;0.79 | &nbsp;&nbsp;49 | &nbsp;&nbsp;3 |
| 12-31-2023 | 20.70 | &nbsp;&nbsp;0.22 | &nbsp;&nbsp;4.79 | &nbsp;&nbsp;5.01 | (0.21) | (1.37) |  | (1.58) | 24.13 | &nbsp;&nbsp;25.25 | 0.78 | 0.70 | &nbsp;&nbsp;0.98 | &nbsp;&nbsp;45 | &nbsp;&nbsp;2 |
| 12-31-2022 | 30.71 | &nbsp;&nbsp;0.22 | (6.50) | (6.28) | (0.22) | (3.51) |  | (3.73) | 20.70 | (20.54) | 0.77 | 0.69 | &nbsp;&nbsp;0.86 | &nbsp;&nbsp;38 | &nbsp;&nbsp;1 |
| 12-31-2021 | 26.13 | &nbsp;&nbsp;0.20 | &nbsp;&nbsp;6.08 | &nbsp;&nbsp;6.28 | (0.27) | (1.43) |  | (1.70) | 30.71 | &nbsp;&nbsp;24.19 | 0.76 | 0.68 | &nbsp;&nbsp;0.67 | &nbsp;&nbsp;53 | &nbsp;&nbsp;8 |
| 12-31-2020 | 23.94 | &nbsp;&nbsp;0.29 | &nbsp;&nbsp;4.46 | &nbsp;&nbsp;4.75 | (0.39) | (2.17) |  | (2.56) | 26.13 | &nbsp;&nbsp;21.19 | 0.78 | 0.70 | &nbsp;&nbsp;1.22 | &nbsp;&nbsp;46 | &nbsp;&nbsp;2 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 06-30-2025<sup>3</sup> | 28.71 | &nbsp;&nbsp;0.14 | &nbsp;&nbsp;1.46 | &nbsp;&nbsp;1.60 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 30.31 | &nbsp;&nbsp;&nbsp;5.57<sup>4</sup> | 0.52<sup>5</sup> | 0.44<sup>5</sup> | &nbsp;&nbsp;1.00<sup>5</sup> | 460 | &nbsp;&nbsp;4 |
| 12-31-2024 | 24.29 | &nbsp;&nbsp;0.28 | &nbsp;&nbsp;5.41 | &nbsp;&nbsp;5.69 | (0.15) | (1.12) |  | (1.27) | 28.71 | &nbsp;&nbsp;23.53 | 0.52 | 0.44 | &nbsp;&nbsp;1.04 | 412 | &nbsp;&nbsp;3 |
| 12-31-2023 | 20.82 | &nbsp;&nbsp;0.28 | &nbsp;&nbsp;4.83 | &nbsp;&nbsp;5.11 | (0.27) | (1.37) |  | (1.64) | 24.29 | &nbsp;&nbsp;25.58 | 0.53 | 0.45 | &nbsp;&nbsp;1.23 | 253 | &nbsp;&nbsp;2 |
| 12-31-2022 | 30.87 | &nbsp;&nbsp;0.28 | (6.53) | (6.25) | (0.29) | (3.51) |  | (3.80) | 20.82 | (20.34) | 0.52 | 0.44 | &nbsp;&nbsp;1.11 | 195 | &nbsp;&nbsp;1 |
| 12-31-2021 | 26.25 | &nbsp;&nbsp;0.27 | &nbsp;&nbsp;6.12 | &nbsp;&nbsp;6.39 | (0.34) | (1.43) |  | (1.77) | 30.87 | &nbsp;&nbsp;24.51 | 0.51 | 0.43 | &nbsp;&nbsp;0.92 | 260 | &nbsp;&nbsp;8 |
| 12-31-2020 | 24.03 | &nbsp;&nbsp;0.35 | &nbsp;&nbsp;4.49 | &nbsp;&nbsp;4.84 | (0.45) | (2.17) |  | (2.62) | 26.25 | &nbsp;&nbsp;21.50 | 0.53 | 0.45 | &nbsp;&nbsp;1.47 | 216 | &nbsp;&nbsp;2 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Not annualized. 5 Annualized.** |
| **U.S. Growth Trust** | **U.S. Growth Trust** | **U.S. Growth Trust** | **U.S. Growth Trust** | **U.S. Growth Trust** | **U.S. Growth Trust** | **U.S. Growth Trust** | **U.S. Growth Trust** | **U.S. Growth Trust** | **U.S. Growth Trust** | **U.S. Growth Trust** | **U.S. Growth Trust** | **U.S. Growth Trust** | **U.S. Growth Trust** | **U.S. Growth Trust** | **U.S. Growth Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 06-30-2025<sup>3</sup> | &nbsp;&nbsp;6.13 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>4</sup> | &nbsp;&nbsp;0.52 | &nbsp;&nbsp;0.52 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;6.65 | &nbsp;&nbsp;&nbsp;8.48<sup>5</sup> | 0.80<sup>6</sup> | 0.79<sup>6</sup> | (0.11)<sup>6</sup> | 234 | 64<sup>7</sup> |
| 12-31-2024 | &nbsp;&nbsp;4.94 | (0.02) | &nbsp;&nbsp;1.53 | &nbsp;&nbsp;1.51 | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.32) |  | (0.32) | &nbsp;&nbsp;6.13 | &nbsp;&nbsp;30.81 | 0.80 | 0.79 | (0.31) | 232 | 30 |
| 12-31-2023 | &nbsp;&nbsp;3.28 | (0.01) | &nbsp;&nbsp;1.73 | &nbsp;&nbsp;1.72 | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.06) |  | (0.06) | &nbsp;&nbsp;4.94 | &nbsp;&nbsp;52.85 | 0.82 | 0.81 | (0.17) | 204 | 34 |
| 12-31-2022 | &nbsp;&nbsp;7.48 | (0.01) | (2.70) | (2.71) | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.49) |  | (1.49) | &nbsp;&nbsp;3.28 | (37.70) | 0.81 | 0.81 | (0.22) | 151 | 31 |
| 12-31-2021 | &nbsp;&nbsp;7.60 | (0.04) | &nbsp;&nbsp;1.26 | &nbsp;&nbsp;1.22 | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.34) |  | (1.34) | &nbsp;&nbsp;7.48 | &nbsp;&nbsp;15.75 | 0.79 | 0.78 | (0.50) | 272 | 40 |
| 12-31-2020 | &nbsp;&nbsp;5.39 | (0.02) | &nbsp;&nbsp;2.96 | &nbsp;&nbsp;2.94 | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.73) |  | (0.73) | &nbsp;&nbsp;7.60 | &nbsp;&nbsp;56.04 | 0.80 | 0.79 | (0.32) | 272 | 56 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 06-30-2025<sup>3</sup> | &nbsp;&nbsp;4.59 | (0.01) | &nbsp;&nbsp;0.40 | &nbsp;&nbsp;0.39 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;4.98 | &nbsp;&nbsp;&nbsp;8.50<sup>5</sup> | 1.00<sup>6</sup> | 0.99<sup>6</sup> | (0.31)<sup>6</sup> | &nbsp;&nbsp;66 | 64<sup>7</sup> |
| 12-31-2024 | &nbsp;&nbsp;3.77 | (0.02) | &nbsp;&nbsp;1.16 | &nbsp;&nbsp;1.14 | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.32) |  | (0.32) | &nbsp;&nbsp;4.59 | &nbsp;&nbsp;30.54 | 1.00 | 0.99 | (0.51) | &nbsp;&nbsp;66 | 30 |
| 12-31-2023 | &nbsp;&nbsp;2.52 | (0.01) | &nbsp;&nbsp;1.32 | &nbsp;&nbsp;1.31 | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.06) |  | (0.06) | &nbsp;&nbsp;3.77 | &nbsp;&nbsp;52.51 | 1.02 | 1.01 | (0.37) | &nbsp;&nbsp;61 | 34 |
| 12-31-2022 | &nbsp;&nbsp;6.28 | (0.02) | (2.25) | (2.27) | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.49) |  | (1.49) | &nbsp;&nbsp;2.52 | (37.88) | 1.01 | 1.01 | (0.42) | &nbsp;&nbsp;46 | 31 |
| 12-31-2021 | &nbsp;&nbsp;6.57 | (0.05) | &nbsp;&nbsp;1.10 | &nbsp;&nbsp;1.05 | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.34) |  | (1.34) | &nbsp;&nbsp;6.28 | &nbsp;&nbsp;15.64 | 0.99 | 0.98 | (0.70) | &nbsp;&nbsp;88 | 40 |
| 12-31-2020 | &nbsp;&nbsp;4.74 | (0.03) | &nbsp;&nbsp;2.59 | &nbsp;&nbsp;2.56 | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.73) |  | (0.73) | &nbsp;&nbsp;6.57 | &nbsp;&nbsp;55.70 | 1.00 | 0.99 | (0.52) | &nbsp;&nbsp;89 | 56 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 06-30-2025<sup>3</sup> | &nbsp;&nbsp;6.23 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>4</sup> | &nbsp;&nbsp;0.54 | &nbsp;&nbsp;0.54 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;6.77 | &nbsp;&nbsp;&nbsp;8.67<sup>5</sup> | 0.75<sup>6</sup> | 0.74<sup>6</sup> | (0.06)<sup>6</sup> | 408 | 64<sup>7</sup> |
| 12-31-2024 | &nbsp;&nbsp;5.02 | (0.02) | &nbsp;&nbsp;1.55 | &nbsp;&nbsp;1.53 | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.32) |  | (0.32) | &nbsp;&nbsp;6.23 | &nbsp;&nbsp;30.71 | 0.75 | 0.74 | (0.26) | 389 | 30 |
| 12-31-2023 | &nbsp;&nbsp;3.33 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>4</sup> | &nbsp;&nbsp;1.75 | &nbsp;&nbsp;1.75 | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.06) |  | (0.06) | &nbsp;&nbsp;5.02 | &nbsp;&nbsp;52.95 | 0.77 | 0.76 | (0.12) | 317 | 34 |
| 12-31-2022 | &nbsp;&nbsp;7.55 | (0.01) | (2.72) | (2.73) | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.49) |  | (1.49) | &nbsp;&nbsp;3.33 | (37.59) | 0.76 | 0.76 | (0.18) | 217 | 31 |
| 12-31-2021 | &nbsp;&nbsp;7.66 | (0.04) | &nbsp;&nbsp;1.27 | &nbsp;&nbsp;1.23 | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.34) |  | (1.34) | &nbsp;&nbsp;7.55 | &nbsp;&nbsp;15.76 | 0.74 | 0.73 | (0.45) | 436 | 40 |
| 12-31-2020 | &nbsp;&nbsp;5.42 | (0.02) | &nbsp;&nbsp;2.99 | &nbsp;&nbsp;2.97 | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.73) |  | (0.73) | &nbsp;&nbsp;7.66 | &nbsp;&nbsp;56.29 | 0.75 | 0.74 | (0.27) | 382 | 56 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Less than $0.005 per share. 5 Not annualized. 6 Annualized. 7 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Less than $0.005 per share. 5 Not annualized. 6 Annualized. 7 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Less than $0.005 per share. 5 Not annualized. 6 Annualized. 7 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Less than $0.005 per share. 5 Not annualized. 6 Annualized. 7 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Less than $0.005 per share. 5 Not annualized. 6 Annualized. 7 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Less than $0.005 per share. 5 Not annualized. 6 Annualized. 7 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Less than $0.005 per share. 5 Not annualized. 6 Annualized. 7 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Less than $0.005 per share. 5 Not annualized. 6 Annualized. 7 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Less than $0.005 per share. 5 Not annualized. 6 Annualized. 7 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Less than $0.005 per share. 5 Not annualized. 6 Annualized. 7 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Less than $0.005 per share. 5 Not annualized. 6 Annualized. 7 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Less than $0.005 per share. 5 Not annualized. 6 Annualized. 7 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Less than $0.005 per share. 5 Not annualized. 6 Annualized. 7 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Less than $0.005 per share. 5 Not annualized. 6 Annualized. 7 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Less than $0.005 per share. 5 Not annualized. 6 Annualized. 7 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-25. Unaudited. 4 Less than $0.005 per share. 5 Not annualized. 6 Annualized. 7 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** |

---

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| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 211 |

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[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Notes to financial statements (unaudited)

------

1. Organization

John Hancock Variable Insurance Trust (the Trust) is a no-load, open-end management investment company organized as a Massachusetts business trust. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act). It is a series company with multiple investment series, thirty-five of which are presented in this report (the portfolios).

American Asset Allocation Trust, American Global Growth Trust, American Growth Trust, American Growth-Income Trust and American International Trust (collectively, the JHVIT Feeder Funds), Lifestyle Balanced Portfolio, Lifestyle Conservative Portfolio, Lifestyle Growth Portfolio and Lifestyle Moderate Portfolio (collectively, the Lifestyle Portfolios) operate as "funds of funds," investing in shares of mutual funds (underlying funds). The accounting policies of the underlying funds in which the Lifestyle Portfolios invest are outlined in the underlying funds' shareholder reports, which include the underlying funds' financial statements. These are available on the Securities and Exchange Commission (SEC) website at www.sec.gov. John Hancock underlying funds' shareholder reports are also available without charge by calling 800-344-1029 or visiting jhannuities.com. The American Funds Insurance Series' accounting policies are outlined in their financial statements, available at the SEC website at www.sec.gov. Capital Research and Management Company serves as investment advisor for the American Funds Insurance Series' master funds. The underlying funds are not covered by this report.

The portfolios may offer multiple classes of shares: Series I, Series II, Series III and Series NAV. The shares currently offered by each portfolio are shown on the Statements of assets and liabilities. Shares of the portfolios are presently offered only to certain affiliates of John Hancock Variable Trust Advisers LLC (the Advisor) and Manulife Financial Corporation (MFC) except in the case of the Disciplined Value Emerging Markets Equity Trust, Financial Industries Trust, Fundamental All Cap Core Trust, International Equity Index Trust and International Small Company Trust. Series NAV of Disciplined Value Emerging Markets Equity Trust and International Equity Index Trust and Series II of Disciplined Value Emerging Markets Equity Trust, Financial Industries Trust, Fundamental All Cap Core Trust and International Small Company Trust are also offered to variable insurance products of external insurance companies. Shareholders of each class have exclusive voting rights to matters that affect that class. The distribution and service fees, if any, for each class may differ.

Prior to April 25, 2025, Small Cap Core Trust was known as Small Cap Value Trust.

Prior to May 28, 2025, U.S. Growth Trust was known as Capital Appreciation Trust.

2. Significant accounting policies

The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (US GAAP), which require management to make certain estimates and assumptions as of the date of the financial statements. Actual results could differ from those estimates and those differences could be significant. The portfolios qualify as investment companies under Topic 946 of Accounting Standards Codification of US GAAP.

Events or transactions occurring after the end of the fiscal period through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The following summarizes the significant accounting policies of the portfolios:

**Security valuation. Investments are stated at value as of the scheduled close of regular trading on the New York Stock Exchange (NYSE), normally at 4:00 P.M., Eastern Time. In case of emergency or other disruption resulting in the NYSE not opening for trading or the NYSE closing at a time other than the regularly scheduled close, the net asset value (NAV) may be determined as of the regularly scheduled close of the NYSE pursuant to the Valuation Policies and Procedures of the Advisor, John Hancock Variable Trust Advisers LLC, the portfolios' valuation designee.**

In order to value the securities, the portfolios use the following valuation techniques: Equity securities, including exchange-traded or closed-end funds, are typically valued at the last sale price or official closing price on the exchange or principal market where the security trades. In the event there were no sales during the day or closing prices are not available, the securities are valued using the last available bid price. Investments in open-end mutual funds, including John Hancock Collateral Trust (JHCT), are valued at their respective NAVs each business day. Debt obligations are typically valued based on evaluated prices provided by an independent pricing vendor. Independent pricing vendors utilize matrix pricing, which takes into account factors such as institutional-size trading in similar groups of securities, yield, quality, coupon rate, maturity, type of issue, trading characteristics and other market data, as well as broker supplied prices. Exchange-traded options are valued at the mid-price of the last quoted bid and ask prices from the exchange where the option trades. Unlisted options are generally valued using evaluated prices obtained from an independent pricing vendor. Futures contracts whose settlement prices are determined as of the close of the NYSE are typically valued based on the settlement price while other futures contracts are typically valued at the last traded price on the exchange on which they trade. Foreign equity index futures that trade in the electronic trading market subsequent to the close of regular trading may be valued at the last traded price in the electronic trading market as of 4:00 P.M. ET, or may be fair valued based on fair value adjustment factors provided by an independent pricing vendor in order to adjust for events that may occur between the close of foreign exchanges or markets and the close of the NYSE. Swaps are valued using evaluated prices obtained from an independent pricing vendor. Foreign securities and currencies are valued in U.S. dollars based on foreign currency exchange rates supplied by an independent pricing vendor.

In certain instances, the Pricing Committee of the Advisor may determine to value equity securities using prices obtained from another exchange or market if trading on the exchange or market on which prices are typically obtained did not open for trading as scheduled, or if trading closed earlier than scheduled, and trading occurred as normal on another exchange or market.

Other portfolio securities and assets, for which reliable market quotations are not readily available, are valued at fair value as determined in good faith by the Pricing Committee following procedures established by the Advisor and adopted by the Board of Trustees. The frequency with which these fair valuation procedures are used cannot be predicted and fair value of securities may differ significantly from the value that would have been used had a ready market for such securities existed. Trading in foreign securities may be completed before the scheduled daily close of trading on the NYSE. Significant events at the issuer or market level may affect the values of securities between the time when the valuation of the securities is generally determined and the close of the NYSE. If a significant event occurs, these securities may be fair valued, as determined in good faith by the Pricing Committee, following

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

**Significant accounting policies, continued &nbsp;&nbsp;&nbsp;&nbsp; procedures established by the Advisor and adopted by the Board of Trustees. The Advisor uses fair value adjustment factors provided by an independent pricing vendor to value certain foreign securities in order to adjust for events that may occur between the close of foreign exchanges or markets and the close of the NYSE.**

The portfolios use a three tier hierarchy to prioritize the pricing assumptions, referred to as inputs, used in valuation techniques to measure fair value. Level 1 includes securities valued using quoted prices in active markets for identical securities, including registered investment companies. Level 2 includes securities valued using other significant observable inputs. Observable inputs may include quoted prices for similar securities, interest rates, prepayment speeds and credit risk. Prices for securities valued using these inputs are received from independent pricing vendors and brokers and are based on an evaluation of the inputs described. Level 3 includes securities valued using significant unobservable inputs when market prices are not readily available or reliable, including the Advisor's assumptions in determining the fair value of investments. Factors used in determining value may include market or issuer specific events or trends, changes in interest rates and credit quality. The inputs or methodology used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. Changes in valuation techniques and related inputs may result in transfers into or out of an assigned level within the disclosure hierarchy.

The following is a summary of the values by input classification of the portfolios' investments as of June 30, 2025, by major security category or type:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total<br> value at<br> 6-30-25** | **Level 1<br> quoted<br> price** | **Level 2<br> significant<br> observable<br> inputs** | **Level 3<br> significant<br> unobservable<br> inputs** |
| **500 Index Trust** | **500 Index Trust** | **500 Index Trust** | **500 Index Trust** | **500 Index Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10960366402** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10960366402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**292707323** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;292707323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$11253073725** | **$11253073725** | **—** | **—** |
| **Derivatives:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$8583988** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8583988 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **American Asset Allocation Trust** | **American Asset Allocation Trust** | **American Asset Allocation Trust** | **American Asset Allocation Trust** | **American Asset Allocation Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment companies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$1209368178** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1209368178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | &nbsp;&nbsp;&nbsp;**$1209368178** | &nbsp;&nbsp;&nbsp;**$1209368178** | **—** | **—** |
| **American Global Growth Trust** | **American Global Growth Trust** | **American Global Growth Trust** | **American Global Growth Trust** | **American Global Growth Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment companies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$200508297** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$200508297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$200508297** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$200508297** | **—** | **—** |
| **American Growth Trust** | **American Growth Trust** | **American Growth Trust** | **American Growth Trust** | **American Growth Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment companies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$1064172000** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1064172000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | &nbsp;&nbsp;&nbsp;**$1064172000** | &nbsp;&nbsp;&nbsp;**$1064172000** | **—** | **—** |
| **American Growth-Income Trust** | **American Growth-Income Trust** | **American Growth-Income Trust** | **American Growth-Income Trust** | **American Growth-Income Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment companies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$976985134** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$976985134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$976985134** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$976985134** | **—** | **—** |
| **American International Trust** | **American International Trust** | **American International Trust** | **American International Trust** | **American International Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment companies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$369867044** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$369867044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$369867044** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$369867044** | **—** | **—** |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

#### Significant accounting policies, continued &nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total<br> value at<br> 6-30-25** | **Level 1<br> quoted<br> price** | **Level 2<br> significant<br> observable<br> inputs** | **Level 3<br> significant<br> unobservable<br> inputs** |
| **Blue Chip Growth Trust** | **Blue Chip Growth Trust** | **Blue Chip Growth Trust** | **Blue Chip Growth Trust** | **Blue Chip Growth Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Common stocks** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communication services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$330824455** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$330824455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer discretionary | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**331741490** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;331741490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer staples | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**17702664** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17702664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Energy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3381690** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3381690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**183964576** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179828695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4135881 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health care | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**142149008** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142149008 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**64974774** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64974774 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information technology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**989094455** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;989094455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14962125** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14962125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**18842406** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18842406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Corporate bonds** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4298934** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4298934 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Short-term investments** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15220027** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15220027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$2117156604** | **$2108721789** | &nbsp;&nbsp;&nbsp;&nbsp;**$8434815** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** |
| **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$292419242** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$292419242 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**81555** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Government and Agency obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**68504443** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$68504443 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**35706109** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35706109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Term loans | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**44760260** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44760260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset-backed securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**518383** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;518383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**45613352** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43405352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2208000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | &nbsp;&nbsp;&nbsp;&nbsp;**$487603344** | &nbsp;&nbsp;&nbsp;&nbsp;**$335906149** | **$151697195** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** |
| **Derivatives:** |  |  |  |  |
| **Liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Written options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(1113909)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(1113909) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Disciplined Value Emerging Markets Equity Trust** | **Disciplined Value Emerging Markets Equity Trust** | **Disciplined Value Emerging Markets Equity Trust** | **Disciplined Value Emerging Markets Equity Trust** | **Disciplined Value Emerging Markets Equity Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Common stocks** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brazil | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$23883623** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$23883623 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chile | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**871238** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;871238 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;China | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**62316478** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2353615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$59947872 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$14991 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Greece | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1286799** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1286799 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hong Kong | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8833314** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8833314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;India | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8693341** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8687902 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5439 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indonesia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15793** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15793 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Israel | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1399868** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;762737 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;637131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Luxembourg | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8061403** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4845358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3216045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Malaysia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**227419** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mexico | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13390450** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13390450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Peru | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1216619** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1216619 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Philippines | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1373** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1373 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Russia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Saudi Arabia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5926822** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5926822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Singapore | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4081816** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4081816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;South Africa | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**966420** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;966420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

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[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total<br> value at<br> 6-30-25** | **Level 1<br> quoted<br> price** | **Level 2<br> significant<br> observable<br> inputs** | **Level 3<br> significant<br> unobservable<br> inputs** |
| **Disciplined Value Emerging Markets Equity Trust (continued)** | **Disciplined Value Emerging Markets Equity Trust (continued)** | **Disciplined Value Emerging Markets Equity Trust (continued)** | **Disciplined Value Emerging Markets Equity Trust (continued)** | **Disciplined Value Emerging Markets Equity Trust (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;South Korea | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$32248542** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2475729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$29704802 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$68011 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taiwan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**21903864** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2899525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19004339 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Thailand | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1997632** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1997632 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Turkey | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Arab Emirates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5727377** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5727377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2252932** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2252932 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4359766** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4359766 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Preferred securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brazil | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4032257** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4032257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Philippines | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3402** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;South Korea | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6969472** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6969472 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Short-term investments** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**17529330** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17529330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$238197350** | **$78620247** | **$159471496** | **$105607** |
| **Derivatives:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$312380** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$312380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* |
| **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Common stocks** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Austria | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$1769745** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1769745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bermuda | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7192240** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1750907 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5441333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**21239415** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21239415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;China | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5970975** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5970975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Denmark | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6679881** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6679881 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Finland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5067449** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5067449 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;France | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**31707951** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31707951 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Germany | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5786458** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5786458 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hong Kong | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6782315** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6782315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;India | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3502516** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3502516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ireland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3296592** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3296592 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Italy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13299207** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13299207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**44941715** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44941715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Luxembourg | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2876459** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2876459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mexico | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6720105** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6720105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Netherlands | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**17044609** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17044609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Norway | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2225319** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2225319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;South Korea | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**25037896** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2099674 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22938222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Spain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10128184** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10128184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Switzerland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10676840** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10676840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**59298178** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5858080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53440098 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2429677** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2429677 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Short-term investments** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5687509** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5687509 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$299361235** | **$49734665** | **$249626570** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** |
| **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Common stocks** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communication services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$48244753** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$48244753 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer discretionary | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**32323966** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32323966 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer staples | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**72510743** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72510743 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

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[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total<br> value at<br> 6-30-25** | **Level 1<br> quoted<br> price** | **Level 2<br> significant<br> observable<br> inputs** | **Level 3<br> significant<br> unobservable<br> inputs** |
| **Equity Income Trust (continued)** | **Equity Income Trust (continued)** | **Equity Income Trust (continued)** | **Equity Income Trust (continued)** | **Equity Income Trust (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Energy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$71902143** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$61241676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10660467 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**187657130** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187657130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health care | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**104620410** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101163675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3456735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**107135144** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96507887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10627257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information technology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**74609563** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67612909 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6996654 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**25051430** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25051430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Real estate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**29942068** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29942068 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**47528472** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47528472 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Preferred securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer discretionary | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3807801** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3807801 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4023832** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4023832 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1523115** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1523115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Short-term investments** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**17498084** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17498084 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | &nbsp;&nbsp;&nbsp;&nbsp;**$828378654** | &nbsp;&nbsp;&nbsp;&nbsp;**$792829740** | **$35548914** | **—** |
| **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** |
| **Investments in securities:** | **Investments in securities:** | **Investments in securities:** |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Common stocks** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Financials** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$49735304** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$44908851 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4826453 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**34546957** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31300999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3245958 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2211488** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2211488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13713473** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13713473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**33900416** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31113291 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2787125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Real estate** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Specialized REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**965265** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;965265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Short-term investments** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3917901** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3917901 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | &nbsp;&nbsp;&nbsp;&nbsp;**$138990804** | &nbsp;&nbsp;&nbsp;&nbsp;**$128131268** | **$10859536** | **—** |
| **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Common stocks** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communication services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$243335706** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$243335706 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer discretionary | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**556658361** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;523632429 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$33025932 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer staples | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**91795747** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91795747 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Energy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**128021989** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128021989 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**328221226** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;328221226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health care | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**255338970** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255338970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**84756115** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84756115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information technology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**749860161** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;721467680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28392481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Real estate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**52795889** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52795889 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Short-term investments** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**999072** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;999072 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$2491783236** | **$2430364823** | **$61418413** | **—** |
| **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Common stocks** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communication services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$59938000** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$59938000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer discretionary | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**55100163** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55100163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer staples | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**71974884** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55629470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$16345414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Energy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**63155064** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63155064 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total<br> value at<br> 6-30-25** | **Level 1<br> quoted<br> price** | **Level 2<br> significant<br> observable<br> inputs** | **Level 3<br> significant<br> unobservable<br> inputs** |
| **Fundamental Large Cap Value Trust (continued)** | **Fundamental Large Cap Value Trust (continued)** | **Fundamental Large Cap Value Trust (continued)** | **Fundamental Large Cap Value Trust (continued)** | **Fundamental Large Cap Value Trust (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$149942891** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$149942891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health care | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**160266965** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160266965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**97642986** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87705536 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9937450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information technology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**118815186** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102797325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16017861 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6503348** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6503348 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Real estate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**28515382** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28515382 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Escrow certificates** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Short-term investments** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4217401** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4217401 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$816072270** | **$773771545** | &nbsp;&nbsp;&nbsp;**$42300725** | **—** |
| *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* |
| **Global Equity Trust** | **Global Equity Trust** | **Global Equity Trust** | **Global Equity Trust** | **Global Equity Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Common stocks** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Belgium | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$5835251** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5835251 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Denmark | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3081407** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3081407 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;France | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**21395167** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21395167 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Germany | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7890684** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7890684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hong Kong | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3111491** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3111491 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ireland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**16431116** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$16431116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**24626674** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24626674 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Netherlands | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11891266** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11891266 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Switzerland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10101358** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5845391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4255967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taiwan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5631679** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5631679 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6122502** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6122502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**170645770** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170645770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Preferred securities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6369820** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6369820 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Escrow certificates** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Short-term investments** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1119785** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1119785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$294253970** | **$194042062** | **$100211908** | **—** |
| *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* |
| **Health Sciences Trust** | **Health Sciences Trust** | **Health Sciences Trust** | **Health Sciences Trust** | **Health Sciences Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Common stocks** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$449121** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$449121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health care | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**208822388** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201950036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6872352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**22174** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Preferred securities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**549638** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;549638 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Convertible bonds** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**238865** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;238865 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Warrants** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1769** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1537 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Short-term investments** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2452509** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2452509 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$212536464** | **$204875377** | &nbsp;&nbsp;&nbsp;&nbsp;**$7661087** | **—** |
| **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Common stocks** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Australia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$45420040** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$45420040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Austria | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1425257** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1425257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Belgium | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5660567** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5660567 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

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[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total<br> value at<br> 6-30-25** | **Level 1<br> quoted<br> price** | **Level 2<br> significant<br> observable<br> inputs** | **Level 3<br> significant<br> unobservable<br> inputs** |
| **International Equity Index Trust (continued)** | **International Equity Index Trust (continued)** | **International Equity Index Trust (continued)** | **International Equity Index Trust (continued)** | **International Equity Index Trust (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brazil | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$10191173** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10191173 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**84497165** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84121255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$375910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chile | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1771414** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1433653 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;337761 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;China | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**81237618** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2686949 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78550669 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Colombia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**177693** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Czech Republic | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**521338** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;521338 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Denmark | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15263853** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15263853 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Egypt | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**201865** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Finland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7121814** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7121814 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;France | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**73131393** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73131393 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Germany | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**67667497** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67667497 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Greece | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1983931** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1983931 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hong Kong | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**17908393** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;271898 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17624754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11741 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hungary | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**916825** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;916825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;India | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**56209638** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4087105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52122533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indonesia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3649068** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3643003 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ireland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8825977** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3391168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5434809 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Israel | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6626859** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2268269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4358590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Italy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**20252618** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20252618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**145538491** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145538491 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Luxembourg | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1548551** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1548551 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Macau | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**172210** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Malaysia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3960982** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3960982 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mexico | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6146098** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6146098 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Netherlands | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**33462596** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33462596 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Zealand | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1864395** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1864395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Norway | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4183928** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4183928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Peru | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**638693** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;638693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Philippines | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1462461** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1462461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Poland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3683621** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3683621 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Portugal | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1018230** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1018230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Russia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Saudi Arabia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10851073** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10851073 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Singapore | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12796721** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2589656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10207065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;South Africa | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9043611** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9043611 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;South Korea | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**32065577** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31980467 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Spain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**21448004** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21448004 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sweden | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**24588596** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4220370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20368226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Switzerland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**66862543** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66862543 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taiwan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**59127721** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59127721 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Thailand | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3124956** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3124956 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Turkey | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1636830** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1636830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Arab Emirates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**95119259** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120536 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94998723 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3560750** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3004589 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;556161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Preferred securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brazil | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3650996** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3650996 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chile | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**17462** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Germany | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2056174** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2056174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;South Korea | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1289814** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1289814 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Rights** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**20863** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20863 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Warrants** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10563** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Short-term investments** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8428645** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8428645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$1070042410** | **$137537383** | **$932493286** | **$11741** |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total<br> value at<br> 6-30-25** | **Level 1<br> quoted<br> price** | **Level 2<br> significant<br> observable<br> inputs** | **Level 3<br> significant<br> unobservable<br> inputs** |
| **International Equity Index Trust (continued)** | **International Equity Index Trust (continued)** | **International Equity Index Trust (continued)** | **International Equity Index Trust (continued)** | **International Equity Index Trust (continued)** |
| **Derivatives:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$657840** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$657840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* |
| **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Common stocks** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Australia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$6273945** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$33852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6232088 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8005 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Austria | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1619014** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1619014 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Belgium | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1739486** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1732308 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1388 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bermuda | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**233449** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233449 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cambodia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**24059** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24059 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11838530** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11781620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56657 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Denmark | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2683508** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2683508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Finland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2968093** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2968093 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;France | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5658536** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5658536 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Georgia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**156597** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Germany | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6104184** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6104184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Greece | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15870** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Guernsey, Channel Islands | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hong Kong | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1929986** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1927483 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2503 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ireland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**731109** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;731109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Isle of Man | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**60338** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60338 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Israel | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1233833** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1206672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Italy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4314895** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4314895 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23084440** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23084440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liechtenstein | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**79762** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79762 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Luxembourg | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**571185** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;571185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Macau | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10115** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Malaysia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15020** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mauritius | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10563** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mongolia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9754** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Netherlands | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2471979** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2300933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Zealand | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**385939** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Norway | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**806954** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;796184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Peru | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**84259** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Poland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**74954** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Portugal | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**530404** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;530404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Singapore | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1060084** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1049046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;South Africa | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**82363** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82363 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Spain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2673966** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2671000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2966 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sweden | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2979876** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2979876 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Switzerland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8388624** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8388624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taiwan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14750** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Arab Emirates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9048** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11867400** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197439 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11658471 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**612112** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;299325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;312787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Preferred securities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**432912** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;432912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Rights** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10658** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10658 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Warrants** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1004** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;973 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Short-term investments** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2383284** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2383284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$106236841** | **$14910318** | **$91288808** | **$37715** |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total<br> value at<br> 6-30-25** | **Level 1<br> quoted<br> price** | **Level 2<br> significant<br> observable<br> inputs** | **Level 3<br> significant<br> unobservable<br> inputs** |
| **International Small Company Trust (continued)** | **International Small Company Trust (continued)** | **International Small Company Trust (continued)** | **International Small Company Trust (continued)** | **International Small Company Trust (continued)** |
| **Derivatives:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$13014** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13014 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* |
| **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Affiliated investment companies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$979528762** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$979528762 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**22** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | &nbsp;&nbsp;&nbsp;&nbsp;**$979528784** | &nbsp;&nbsp;&nbsp;&nbsp;**$979528784** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** |
| **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Affiliated investment companies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$153087354** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$153087354 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3930** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | &nbsp;&nbsp;&nbsp;&nbsp;**$153091284** | &nbsp;&nbsp;&nbsp;&nbsp;**$153091284** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** |
| **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Affiliated investment companies | &nbsp;&nbsp;&nbsp;&nbsp;**$5133835789** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5133835789 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**75** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$5133835864** | **$5133835864** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** |
| **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Affiliated investment companies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$269560047** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$269560047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4584** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | &nbsp;&nbsp;&nbsp;&nbsp;**$269564631** | &nbsp;&nbsp;&nbsp;&nbsp;**$269564631** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** |
| **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$629274424** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$629274424 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3373178** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3373178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exchange-traded funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6725201** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6725201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**19600000** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$19600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | &nbsp;&nbsp;&nbsp;&nbsp;**$658972803** | &nbsp;&nbsp;&nbsp;&nbsp;**$635999625** | **$19600000** | **$3373178** |
| **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$1137269475** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1137269475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**49074281** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49074281 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$1186343756** | **$1186343756** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total<br> value at<br> 6-30-25** | **Level 1<br> quoted<br> price** | **Level 2<br> significant<br> observable<br> inputs** | **Level 3<br> significant<br> unobservable<br> inputs** |
| **Mid Cap Index Trust (continued)** | **Mid Cap Index Trust (continued)** | **Mid Cap Index Trust (continued)** | **Mid Cap Index Trust (continued)** | **Mid Cap Index Trust (continued)** |
| **Derivatives:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$924336** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$924336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Common stocks** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communication services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$11665438** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11665438 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer discretionary | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**36632572** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29959256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6673316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer staples | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**22698964** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22698964 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Energy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**42037808** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42037808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**115926974** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112373216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3553758 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health care | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**62208560** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62208560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**99263992** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99263992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information technology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**61880598** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61880598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**32025306** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28408872 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3616434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Real estate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**45280588** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45280588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**37042847** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37042847 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Convertible bonds** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1092465** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1092465 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Short-term investments** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**20748197** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20748197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | &nbsp;&nbsp;&nbsp;&nbsp;**$588504309** | &nbsp;&nbsp;&nbsp;&nbsp;**$573568336** | **$14935973** | **—** |
| **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$274681784** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$274681784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5413664** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5413664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | &nbsp;&nbsp;&nbsp;&nbsp;**$280095448** | &nbsp;&nbsp;&nbsp;&nbsp;**$280095448** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | **—** |
| **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Common stocks** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communication services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$195889951** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$195889951 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer discretionary | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15105233** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15105233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**18440652** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18440652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health care | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**522178** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$522178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1738674** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1738674 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information technology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**855147392** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;845504818 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9642574 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Real estate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**107388** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107388 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Short-term investments** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**16382087** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16382087 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$1103333555** | **$1093168803** | **$10164752** | **—** |
| **Small Cap Core Trust** | **Small Cap Core Trust** | **Small Cap Core Trust** | **Small Cap Core Trust** | **Small Cap Core Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$281501828** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$281501828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7271474** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7271474 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | &nbsp;&nbsp;&nbsp;&nbsp;**$288773302** | &nbsp;&nbsp;&nbsp;&nbsp;**$288773302** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | **—** |

---

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[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total<br> value at<br> 6-30-25** | **Level 1<br> quoted<br> price** | **Level 2<br> significant<br> observable<br> inputs** | **Level 3<br> significant<br> unobservable<br> inputs** |
| **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Common stocks** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communication services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$12837399** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$12837399 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer discretionary | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**48981582** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48960168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$21414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer staples | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11008639** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11008639 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Energy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23666650** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23666650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**93962191** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93961475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$716 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health care | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**77593694** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77512992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79240 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**82950222** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82950222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information technology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**71352144** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71352144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**18426017** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18412899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13118 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Real estate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**29809800** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29809800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15498665** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15498665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Rights** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13358** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Warrants** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**443** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;443 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Short-term investments** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**24571428** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24571428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$510672232** | **$510556282** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$22876** | **$93074** |
| **Derivatives:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$208710** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$208710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* |
| **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Common stocks** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communication services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$6364173** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6364173 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer discretionary | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**24333890** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24333890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer staples | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9394700** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9394700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Energy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15164072** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15164072 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**46194385** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46193769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$616 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health care | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11808376** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11807209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;869 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**26196038** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26195970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information technology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12008293** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12008293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10108530** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10097822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10708 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Real estate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1542669** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1542669 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**440212** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;440212 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Short-term investments** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2568605** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2568605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$166123943** | **$166111384** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$298** | **$12261** |
| *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* |
| **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$271005650** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$269866266 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1139384 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exchange-traded funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**823906** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;823906 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7830700** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4330700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$279660256** | **$275020872** | **$4639384** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** |

---

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[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total<br> value at<br> 6-30-25** | **Level 1<br> quoted<br> price** | **Level 2<br> significant<br> observable<br> inputs** | **Level 3<br> significant<br> unobservable<br> inputs** |
| **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$118977948** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$118977948 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3808921** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3808921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | &nbsp;&nbsp;&nbsp;&nbsp;**$122786869** | &nbsp;&nbsp;&nbsp;&nbsp;**$122786869** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** |
| **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Common stocks** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communication services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$497863823** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$399554616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$98309207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer discretionary | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**694333962** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;485222814 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209111148 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer staples | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**410641764** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240530062 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170111702 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Energy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**216001626** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146287944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69713682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1200291247** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;680213665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520076988 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$594 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health care | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**691062449** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;448149096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;242803182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110171 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**907003807** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;494539295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;412464512 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information technology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1525133593** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1344659355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180474238 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**232657360** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112583701 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120063411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10248 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Real estate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**173000732** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131336850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41663882 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**190985551** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114295885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76689666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Preferred securities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6744800** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6744800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Rights** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10037** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Warrants** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**618** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Short-term investments** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**246645645** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246645645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$6992377014** | **$4844029583** | **$2148226418** | **$121013** |
| **Derivatives:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$6446492** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6446492 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* |
| **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Common stocks** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communication services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$97155704** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$97155704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer discretionary | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**111430776** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111426436 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4311 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer staples | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**59767611** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59767611 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Energy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**31573963** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31573963 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**151649564** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151642645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6796 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health care | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**99387514** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99358850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28518 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**101034199** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101034199 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information technology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**316216138** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;316216138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23430751** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23430556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Real estate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**24739625** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24736976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2649 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23098103** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23098103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Preferred securities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14250** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Rights** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1534** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Warrants** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**99** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Short-term investments** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**31771317** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31771317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$1071271148** | **$1071228381** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$11253** | &nbsp;&nbsp;&nbsp;**$31514** |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total<br> value at<br> 6-30-25** | **Level 1<br> quoted<br> price** | **Level 2<br> significant<br> observable<br> inputs** | **Level 3<br> significant<br> unobservable<br> inputs** |
| **Total Stock Market Index Trust (continued)** | **Total Stock Market Index Trust (continued)** | **Total Stock Market Index Trust (continued)** | **Total Stock Market Index Trust (continued)** | **Total Stock Market Index Trust (continued)** |
| **Derivatives:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$752027** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$752027 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* |
| **U.S. Growth Trust** | **U.S. Growth Trust** | **U.S. Growth Trust** | **U.S. Growth Trust** | **U.S. Growth Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common stocks | &nbsp;&nbsp;&nbsp;&nbsp;**$703865085** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$703865085 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2574859** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2574859 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$706439944** | **$706439944** | **—** | **—** |

---

**Repurchase agreements. The portfolios may enter into repurchase agreements. When the portfolios enter into a repurchase agreement, they receive collateral that is held in a segregated account by the portfolios' custodian, or for tri-party repurchase agreements, collateral is held at a third-party custodian bank in a segregated account for the benefit of the portfolios. The collateral amount is marked-to-market and monitored on a daily basis to ensure that the collateral held is in an amount not less than the principal amount of the repurchase agreement plus any accrued interest. Collateral received by the portfolio for repurchase agreements is disclosed in the Portfolios of investments as part of the caption related to the repurchase agreement.**

Repurchase agreements are typically governed by the terms and conditions of the Master Repurchase Agreement and/or Global Master Repurchase Agreement (collectively, MRA). Upon an event of default, the non-defaulting party may close out all transactions traded under the MRA and net amounts owed. Absent an event of default, assets and liabilities resulting from repurchase agreements are not offset in the Statements of assets and liabilities. In the event of a default by the counterparty, realization of the collateral proceeds could be delayed, during which time the collateral value may decline or the counterparty may have insufficient assets to pay claims resulting from close-out of the transactions.

**Term loans (Floating rate loans). The portfolios may invest in term loans, which are debt securities and are often rated below investment grade at the time of purchase. Term loans are generally subject to legal or contractual restrictions on resale and generally have longer settlement periods than conventional debt securities. Term loans involve special types of risk, including credit risk, interest-rate risk, counterparty risk, and risk associated with extended settlement. The liquidity of term loans, including the volume and frequency of secondary market trading in such loans, varies significantly over time and among individual loans. During periods of infrequent trading, valuing a term loan can be more difficult and buying and selling a term loan at an acceptable price can be more difficult and delayed, which could result in a loss.** 

The portfolios' ability to receive payments of principal, interest and other amounts in connection with term loans will depend primarily on the financial condition of the borrower. The portfolios' failure to receive scheduled payments on a term loan due to a default, bankruptcy or other reason would adversely affect the portfolios' income and would likely reduce the value of its assets. Transactions in loan investments typically take a significant amount of time (i.e., seven days or longer) to settle. This could pose a liquidity risk to the portfolios and, if the portfolios' exposure to such investments is substantial, it could impair the portfolios' ability to meet redemptions. Because term loans may not be rated by independent credit rating agencies, a decision to invest in a particular loan could depend exclusively on the subadvisor's credit analysis of the borrower and/or term loan agents. There is greater risk that the portfolios may have limited rights to enforce the terms of an underlying loan than for other types of debt instruments.

**Security transactions and related investment income. Investment security transactions are accounted for on a trade date plus one basis for daily NAV calculations. However, for financial reporting purposes, investment transactions are reported on trade date. Interest income is accrued as earned. Interest income includes coupon interest and amortization/accretion of premiums/discounts on debt securities. Debt obligations may be placed in a non-accrual status and related interest income may be reduced by stopping current accruals and writing off interest receivable when the collection of all or a portion of interest has become doubtful. Capital gain distributions from underlying funds are recorded on ex-date and reflected as realized gains. Dividend income is recorded on ex-date, except for dividends of certain foreign securities where the dividend may not be known until after the ex-date. In those cases, dividend income, net of withholding taxes, is recorded when the portfolio becomes aware of the dividends. Non-cash dividends, if any, are recorded at the fair market value of the securities received. Distributions received on securities that represent a tax return of capital and/or capital gain, if any, are recorded as a reduction of cost of investments and/or as a realized gain, if amounts are estimable. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds from litigation. Return of capital distributions from underlying funds, if any, are treated as a reduction of cost.** 

**Real estate investment trusts. The portfolios may invest in real estate investment trusts (REITs). Distributions from REITs may be recorded as income and subsequently characterized by the REIT at the end of their fiscal year as a reduction of cost of investments and/or as a realized gain. As a result, the portfolios will estimate the components of distributions from these securities. Such estimates are revised when the actual components of the distributions are known.**

**Securities lending. The portfolios may lend their securities to earn additional income. The portfolios receive collateral from the borrower in an amount not less than the market value of the loaned securities. The portfolios may invest their cash collateral in JHCT, an affiliate of the portfolios, which has a floating NAV and is registered with the Securities and Exchange Commission (SEC) as an investment company. JHCT is a government money market fund and invests in U.S. Government securities and/or repurchase agreements. Each portfolio will receive the benefit of any gains and bear any losses generated by JHCT with respect to the cash collateral.** 

The portfolios have the right to recall loaned securities on demand. If a borrower fails to return loaned securities when due, then the lending agent is responsible and indemnifies the portfolios for the lent securities. The lending agent uses the collateral received from the borrower to purchase replacement

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

**Significant accounting policies, continued &nbsp;&nbsp;&nbsp;&nbsp; securities of the same issue, type, class and series of the loaned securities. If the value of the collateral is less than the purchase cost of replacement securities, the lending agent is responsible for satisfying the shortfall but only to the extent that the shortfall is not due to any decrease in the value of JHCT.**

Although the risk of loss on securities lent is mitigated by receiving collateral from the borrower and through lending agent indemnification, the portfolios could experience a delay in recovering securities or could experience a lower than expected return if the borrower fails to return the securities on a timely basis. During the existence of the loan, the portfolios will receive from the borrower amounts equivalent to any dividends, interest or other distributions on the loaned securities, as well as interest on such amounts. The portfolios receive compensation for lending their securities by retaining a portion of the return on the investment of the collateral and compensation from fees earned from borrowers of the securities. Securities lending income received by the portfolios is net of fees retained by the securities lending agent. Net income received from JHCT is a component of securities lending income as recorded on the Statements of operations.

Obligations to repay collateral received by the portfolios are shown on the Statements of assets and liabilities as Payable upon return of securities loaned and are secured by the loaned securities. The following table summarizes the values of securities loaned by the portfolios and the corresponding cash collateral received at June 30, 2025. In addition, non-cash collateral in the form of U.S. Treasuries was pledged, as indicated below. This non-cash collateral cannot be sold or repledged by the portfolios, and accordingly, is not reflected in the portfolios' net assets.

---

| | | | |
|:---|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Market value of securities on loan** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Cash collateral received** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Non-cash collateral** |
| 500 Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;$1261771 | &nbsp;&nbsp;&nbsp;&nbsp;$1309100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Blue Chip Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$110002 |
| Capital Appreciation Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2252052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2395800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Disciplined Value Emerging Markets Equity Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6946096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7296865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Disciplined Value International Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Equity Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7824481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8112459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| International Equity Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2233655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2290565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| International Small Company Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2239752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2381604 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Mid Cap Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;12251465 | &nbsp;&nbsp;&nbsp;&nbsp;12567450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Mid Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;10722675 | &nbsp;&nbsp;&nbsp;&nbsp;11019370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Science & Technology Trust | &nbsp;&nbsp;&nbsp;&nbsp;12725812 | &nbsp;&nbsp;&nbsp;&nbsp;12990849 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Small Cap Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;30186426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7724677 | &nbsp;&nbsp;&nbsp;&nbsp;23403135 |
| Small Cap Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1796379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1846330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Small Cap Stock Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4229659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4327350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Small Company Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2168519 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2222825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Strategic Equity Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;44826555 | &nbsp;&nbsp;&nbsp;&nbsp;46903743 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Total Stock Market Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3870253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3999226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

**Foreign investing. Assets, including investments, and liabilities denominated in foreign currencies are translated into U.S. dollar values each day at the prevailing exchange rate. Purchases and sales of securities, income and expenses are translated into U.S. dollars at the prevailing exchange rate on the date of the transaction. The effect of changes in foreign currency exchange rates on the value of securities is reflected as a component of the realized and unrealized gains (losses) on investments. Foreign investments are subject to a decline in the value of a foreign currency versus the U.S. dollar, which reduces the dollar value of securities denominated in that currency.**

Portfolios that invest internationally generally carry more risk than portfolios that invest strictly in U.S. securities. These risks are heightened for investments in emerging markets. Risks can result from differences in economic and political conditions, regulations, market practices (including higher transaction costs), accounting standards and other factors.

There may be unexpected restrictions on investments or on exposures to investments in companies located in certain foreign countries, such as China. For example, a government may restrict investment in companies or industries considered important to national interests, or intervene in the financial markets, such as by imposing trading restrictions, or banning or curtailing short selling. As a result of forced sales of a security, or inability to participate in an investment the manager otherwise believes is attractive, a portfolio may incur losses.

Trading in certain Chinese securities through Hong Kong Stock Connect or Bond Connect, mutual market access programs that enable foreign investment in the People's Republic of China, is subject to certain restrictions and risks. Securities offered through these programs may lose purchase eligibility and any changes in laws, regulations and policies impacting these programs may affect security prices, which could adversely affect a portfolio's performance.

**Foreign taxes. The portfolios may be subject to withholding tax on income, capital gains or repatriations imposed by certain countries, a portion of which may be recoverable. Foreign taxes are accrued based upon the portfolios' understanding of the tax rules and rates that exist in the foreign markets in which it invests. Taxes are accrued based on gains realized by the portfolios as a result of certain foreign security sales. In certain circumstances, estimated taxes are accrued based on unrealized appreciation of such securities. Investment income is recorded net of foreign withholding taxes.**

**Overdraft. The portfolios may have the ability to borrow from banks for temporary or emergency purposes, including meeting redemption requests that otherwise might require the untimely sale of securities. Pursuant to the portfolios' custodian agreement, the custodian may loan money to the portfolios to make properly authorized payments. The portfolios are obligated to repay the custodian for any overdraft, including any related costs or expenses. The custodian may have a lien, security interest or security entitlement in any portfolio property that is not otherwise segregated or pledged, to the extent of any overdraft, and to the maximum extent permitted by law. Overdrafts at period end, if any, are presented under the caption Due to custodian in the Statements of assets and liabilities.**

**Line of credit. The portfolios and other affiliated funds have entered into a syndicated line of credit agreement with Citibank, N.A. as the administrative agent that enables them to participate in a $1 billion unsecured committed line of credit, which is in effect through July 13, 2026 unless extended or renewed. Excluding commitments designated for certain funds and subject to the needs of all other affiliated funds, a portfolio can borrow up to an**

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

#### Significant accounting policies, continued &nbsp;&nbsp;&nbsp;&nbsp; aggregate commitment amount of $750 million, subject to asset coverage and other limitations as specified in the agreement.
International Equity Index Trust can borrow up to $50 million, subject to asset coverage and other limitations as specified in the agreement.

A commitment fee payable at the end of each calendar quarter, based on the average daily unused portion of each line of credit, is charged to each participating portfolio based on an asset-based allocation and is reflected in Other expenses on the Statements of operations. For the six months ended June 30, 2025, the portfolios had no borrowings under the line of credit.

Commitment fees for the six months ended June 30, 2025 were as follows:

---

| | |
|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Commitment fee** |
| 500 Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;$27053 |
| American Asset Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3311 |
| American Global Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;820 |
| American Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2939 |
| American Growth-Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2756 |
| American International Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1193 |
| Blue Chip Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5570 |
| Capital Appreciation Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1516 |
| Disciplined Value Emerging Markets Equity Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;874 |
| Disciplined Value International Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;994 |
| Equity Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3726 |
| Financial Industries Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;669 |
| Fundamental All Cap Core Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6954 |
| Fundamental Large Cap Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2406 |
| Global Equity Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1061 |
| Health Sciences Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;932 |
| International Equity Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46958 |
| International Small Company Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;569 |

---

---

| | |
|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Commitment fee** |
| Lifestyle Balanced Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;$2776 |
| Lifestyle Conservative Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;709 |
| Lifestyle Growth Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13173 |
| Lifestyle Moderate Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1002 |
| Mid Cap Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1987 |
| Mid Cap Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3501 |
| Mid Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1911 |
| Real Estate Securities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1074 |
| Science & Technology Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3175 |
| Small Cap Core Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1445 |
| Small Cap Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1694 |
| Small Cap Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;747 |
| Small Cap Stock Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1071 |
| Small Company Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;644 |
| Strategic Equity Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18156 |
| Total Stock Market Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2892 |
| U.S. Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2048 |

---

**Expenses. Within the John Hancock group of funds complex, expenses that are directly attributable to an individual portfolio are allocated to such portfolio. Expenses that are not readily attributable to a specific portfolio are allocated among all portfolios in an equitable manner, taking into consideration, among other things, the nature and type of expense and each portfolio's relative net assets. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.**

**Class allocations. Income, common expenses and realized and unrealized gains (losses) are determined at the portfolio level and allocated daily to each class of shares based on the net assets of the class. Class-specific expenses, such as distribution and service fees, if any, for all classes, are charged daily at the class level based on the net assets of each class and the specific expense rates applicable to each class.**

**Federal income taxes. Each portfolio intends to continue to qualify as a regulated investment company by complying with the applicable provisions of the Internal Revenue Code and will not be subject to federal income tax on taxable income that is distributed to shareholders. Therefore, no federal income tax provision is required.**

For federal income tax purposes, as of December 31, 2024, certain portfolios have capital loss carryforwards available to offset future net realized capital gains. The following table details the capital loss carryforwards available as of December 31, 2024:

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**No Expiration Date** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**No Expiration Date** |
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Short Term** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Long Term** |
| American International Trust | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$3240785 |
| Disciplined Value Emerging Markets Equity Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25127797 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24189399 |
| International Equity Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8045678 |
| Mid Cap Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77257291 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Real Estate Securities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2003897 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Small Cap Stock Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44867090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

As of December 31, 2024, the portfolios had no uncertain tax positions that would require financial statement recognition, derecognition or disclosure. The portfolios' federal tax returns are subject to examination by the Internal Revenue Service for a period of three years.

For federal income tax purposes, the costs of investments owned on June 30, 2025, including short-term investments, were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Aggregate<br> cost** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> (depreciation)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net unrealized<br> appreciation/<br> (depreciation)** |
| 500 Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;$3802746206 | &nbsp;&nbsp;&nbsp;&nbsp;$7606914926 | &nbsp;&nbsp;&nbsp;&nbsp;$(148003419) | &nbsp;&nbsp;&nbsp;&nbsp;$7458911507 |
| American Asset Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1072602818 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136765360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136765360 |
| American Global Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183339927 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17168370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17168370 |
| American Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;755701929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;308470071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;308470071 |
| American Growth-Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;817956420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159028714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159028714 |
| American International Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;357262383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12604661 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12604661 |
| Blue Chip Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1170255566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;967084044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20183006) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;946901038 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

#### Significant accounting policies, continued &nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Aggregate<br> cost** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> (depreciation)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net unrealized<br> appreciation/<br> (depreciation)** |
| Capital Appreciation Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$444489428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$53386810 | &nbsp;&nbsp;&nbsp;&nbsp;$(11386803) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$42000007 |
| Disciplined Value Emerging Markets Equity Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217454509 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28714274 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7659053) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21055221 |
| Disciplined Value International Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254992643 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50554864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6186272) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44368592 |
| Equity Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;691685996 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169496093 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(32803435) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136692658 |
| Financial Industries Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109131207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30102229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(242632) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29859597 |
| Fundamental All Cap Core Trust | &nbsp;&nbsp;&nbsp;&nbsp;1612831391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;977063526 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(98111681) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;878951845 |
| Fundamental Large Cap Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;596593116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257020937 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(37541783) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219479154 |
| Global Equity Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245599889 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55765197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7111116) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48654081 |
| Health Sciences Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;189782052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45551732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22797320) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22754412 |
| International Equity Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;698624778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;426808892 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(54733420) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;372075472 |
| International Small Company Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103499517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25491079 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22740741) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2750338 |
| Lifestyle Balanced Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;991576716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34527542 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(46575474) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12047932) |
| Lifestyle Conservative Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170132471 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4978187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22019374) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17041187) |
| Lifestyle Growth Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;4968975005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340957358 | &nbsp;&nbsp;&nbsp;&nbsp;(176096499) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164860859 |
| Lifestyle Moderate Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;281732492 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11055122 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23222983) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12167861) |
| Mid Cap Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;573138794 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103853864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18019855) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85834009 |
| Mid Cap Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;919713645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;353747194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(86192747) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;267554447 |
| Mid Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;540288885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80408887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(32193463) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48215424 |
| Real Estate Securities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262436031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26536985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8877568) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17659417 |
| Science & Technology Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;930805854 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183252687 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10724986) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172527701 |
| Small Cap Core Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264121541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28911920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4260159) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24651761 |
| Small Cap Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;431098792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158008889 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(78226739) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79782150 |
| Small Cap Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155825017 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29562715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19263789) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10298926 |
| Small Cap Stock Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243620185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59786593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23746522) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36040071 |
| Small Company Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105291730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25717071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8221932) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17495139 |
| Strategic Equity Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;3389825901 | &nbsp;&nbsp;&nbsp;&nbsp;3818722314 | &nbsp;&nbsp;&nbsp;&nbsp;(209724709) | &nbsp;&nbsp;&nbsp;&nbsp;3608997605 |
| Total Stock Market Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;442782895 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;659918020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30677740) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;629240280 |
| U.S. Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;489898773 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217474489 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(933318) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216541171 |

---

**Distribution of income and gains. Distributions to shareholders from net investment income and net realized gains, if any, are recorded on the ex-date. The portfolios generally declare and pay dividends and capital gain distributions, if any, annually.**

Distributions paid by the portfolios with respect to each class of shares are calculated in the same manner, at the same time and in the same amount, except for the effect of class level expenses that may be applied differently to each class.

Such distributions, on a tax basis, if any, are determined in conformity with income tax regulations, which may differ from US GAAP. Distributions in excess of tax basis earnings and profits, if any, are reported in the portfolios' financial statements as a return of capital. The final determination of tax characteristics of the portfolios' distribution will occur at the end of the year and will subsequently be reported to shareholders. Short-term gains from underlying funds are treated as ordinary income for tax purposes.

Capital accounts within the financial statements are adjusted for permanent book-tax differences at fiscal year end. These adjustments have no impact on net assets or the results of operations. Temporary book-tax differences, if any, will reverse in a subsequent period. Book-tax differences are primarily attributable to net operating losses, foreign currency transactions, investments in passive foreign investment companies, wash sale loss deferrals, derivative transactions and corporate actions.

3. Derivative instruments

The portfolios may invest in derivatives in order to meet their investment objective. Derivatives include a variety of different instruments that may be traded in the over-the-counter (OTC) market, on a regulated exchange or through a clearing facility. The risks in using derivatives vary depending upon the structure of the instruments, including the use of leverage, optionality, the liquidity or lack of liquidity of the contract, the creditworthiness of the counterparty or clearing organization and the volatility of the position. Some derivatives involve risks that are potentially greater than the risks associated with investing directly in the referenced securities or other referenced underlying instrument. Specifically, the portfolios are exposed to the risk that the counterparty to an OTC derivatives contract will be unable or unwilling to make timely settlement payments or otherwise honor its obligations. OTC derivatives transactions typically can only be closed out with the other party to the transaction.

Derivatives which are typically traded through the OTC market are regulated by the Commodity Futures Trading Commission (the CFTC). Derivative counterparty risk is managed through an ongoing evaluation of the creditworthiness of all potential counterparties and, if applicable, designated clearing organizations. The portfolios attempt to reduce their exposure to counterparty risk for derivatives traded in the OTC market, whenever possible, by entering into an International Swaps and Derivatives Association (ISDA) Master Agreement with each of their OTC counterparties. The ISDA gives each party to the agreement the right to terminate all transactions traded under the agreement if there is certain deterioration in the credit quality or contractual default of the other party, as defined in the ISDA. Upon an event of default or a termination of the ISDA, the non-defaulting party has the right to close out all transactions and to net amounts owed.

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[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

**Derivative instruments, continued &nbsp;&nbsp;&nbsp;&nbsp; As defined by the ISDA, the portfolios may have collateral agreements with certain counterparties to mitigate counterparty risk on OTC derivatives. Subject to established minimum levels, collateral for OTC transactions is generally determined based on the net aggregate unrealized gain or loss on contracts with a particular counterparty. Collateral pledged to the portfolios, if any, are held in a segregated account by a third-party agent or held by the custodian bank for the benefit of the portfolios and can be in the form of cash or debt securities issued by the U.S. government or related agencies; collateral posted by the portfolios, if any, for OTC transactions is held in a segregated account at the portfolios' custodian and is noted in the accompanying portfolio of investments, or if cash is posted, on the Statements of assets and liabilities. The portfolios' risk of loss due to counterparty risk is equal to the asset value of outstanding contracts offset by collateral received.**

Certain derivatives are traded or cleared on an exchange or central clearinghouse. Exchange-traded or centrally-cleared transactions generally present less counterparty risk to a portfolio than OTC transactions. The exchange or clearinghouse stands between the portfolios and the broker to the contract and therefore, credit risk is generally limited to the failure of the exchange or clearinghouse and the clearing member.

**Futures. A futures contract is a contractual agreement to buy or sell a particular currency or financial instrument at a pre-determined price in the future. Futures are traded on an exchange and cleared through a central clearinghouse. Risks related to the use of futures contracts include possible illiquidity of the futures markets and contract prices that can be highly volatile and imperfectly correlated to movements in the underlying financial instrument and potential losses in excess of the amounts recognized on the Statements of assets and liabilities. Use of long futures contracts subjects the portfolios to the risk of loss up to the notional value of the futures contracts. Use of short futures contracts subjects the portfolios to unlimited risk of loss.**

Upon entering into a futures contract, the portfolios are required to deposit initial margin with the broker in the form of cash or securities. The amount of required margin is set by the broker and is generally based on a percentage of the contract value. The margin deposit must then be maintained at the established level over the life of the contract. Cash that has been pledged by the portfolios, if any, is detailed in the Statements of assets and liabilities as Collateral held at broker for futures contracts. Securities pledged by the portfolios, if any, are identified in the Portfolios of investments. Subsequent payments, referred to as variation margin, are made or received by the portfolios periodically and are based on changes in the market value of open futures contracts. Futures contracts are marked-to-market daily and unrealized gain or loss is recorded by the portfolios. Receivable/Payable for futures variation margin is included in the Statements of assets and liabilities. When the contract is closed, the portfolios record a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed.

The following table details how the portfolios used futures contracts during the six months ended June 30, 2025. In addition, the table summarizes the range of notional contract amounts held by the portfolios, as measured at each quarter end:

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Reason** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**USD Notional range** |
| 500 Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against changes in certain securities markets and gain exposure to certain securities markets. | &nbsp;&nbsp;&nbsp;&nbsp;From $317.7 million to $364.2 million |
| International Equity Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against changes in certain securities markets and gain exposure to certain securities markets. | &nbsp;&nbsp;&nbsp;&nbsp;From $14.7 million to $17.6 million |
| International Small Company Trust | &nbsp;&nbsp;&nbsp;&nbsp;To equitize cash balances. | &nbsp;&nbsp;&nbsp;&nbsp;From $670,000 to $1.2 million |
| Mid Cap Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against changes in certain securities markets and gain exposure to certain securities markets. | &nbsp;&nbsp;&nbsp;&nbsp;From $40.6 million to $40.9 million |
| Small Cap Core Trust | &nbsp;&nbsp;&nbsp;&nbsp;To gain exposure to certain securities markets. As of June 30, 2025, there were no open futures contracts. | &nbsp;&nbsp;&nbsp;&nbsp;Up to $106.8 million, as measured during the period |
| Small Cap Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against changes in certain securities markets and gain exposure to certain securities markets. | &nbsp;&nbsp;&nbsp;&nbsp;From $15.7 million to $19.6 million |
| Strategic Equity Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against changes in certain securities markets and gain exposure to certain securities markets. | &nbsp;&nbsp;&nbsp;&nbsp;From $241.5 million to $269.7 million |
| Total Stock Market Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against changes in certain securities markets and gain exposure to certain securities markets. | &nbsp;&nbsp;&nbsp;&nbsp;From $25.6 million to $38.5 million |

---

**Options. There are two types of options, put options and call options. Options are traded either OTC or on an exchange. A call option gives the purchaser of the option the right to buy (and the seller the obligation to sell) the underlying asset at the exercise price. A put option gives the purchaser of the option the right to sell (and the writer the obligation to buy) the underlying asset at the exercise price. Writing puts and buying calls may increase the portfolios' exposure to changes in the value of the underlying instrument. Buying puts and writing calls may decrease the portfolios' exposure to such changes. Risks related to the use of options include the loss of premiums on purchased options, possible illiquidity of the options markets, trading restrictions imposed by an exchange and movements in underlying security values, and for written options, potential losses in excess of the amounts recognized on the Statements of assets and liabilities. In addition, OTC options are subject to the risks of all OTC derivatives contracts.** 

Purchased options are included in the Portfolio of investments and are subsequently "marked-to-market" to reflect current market value. If a purchased option expires, a portfolio realizes a loss equal to the premium paid for the option. Premiums paid for purchased options which are exercised or closed are added to the amounts paid or offset against the proceeds on the underlying asset transaction to determine the realized gain (loss). Written options are included as liabilities in the Statements of assets and liabilities and are "marked-to-market" to reflect the current market value. If the written option expires, a portfolio realizes a gain equal to the premium received. Premiums received from writing options which are exercised or closed are added to the proceeds or offset against amounts paid on the underlying asset transaction to determine the realized gain (loss).

The following table details how the portfolios used written options contracts during the six months ended June 30, 2025. In addition, the table summarizes the range of market value amounts held by the portfolios, as measured at each quarter end:

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Reason** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Market value range** |
| Capital Appreciation Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;To generate potential income from options premiums. | &nbsp;&nbsp;&nbsp;&nbsp;From $732,000 to $1.4 million |

---

**Swaps. Swap agreements are agreements between the portfolio and a counterparty to exchange cash flows, assets, foreign currencies or market-linked returns at specified intervals. Swap agreements are privately negotiated in the OTC market (OTC swaps) or may be executed on a registered commodities exchange (centrally cleared swaps). Swaps are marked-to-market daily and the change in value is recorded as a component of unrealized appreciation/depreciation of swap contracts. The value of the swap will typically impose collateral posting obligations on the party that is considered**

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[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

#### Derivative instruments, continued &nbsp;&nbsp;&nbsp;&nbsp; out-of-the-money on the swap.
Upfront payments made/received by the portfolios, if any, are amortized/accreted for financial reporting purposes, with the unamortized/unaccreted portion included in the Statement of assets and liabilities. A termination payment by the counterparty or the portfolios is recorded as realized gain or loss, as well as the net periodic payments received or paid by the portfolios.

Entering into swap agreements involves, to varying degrees, elements of credit, market and documentation risk that may provide outcomes that produce losses in excess of the amounts recognized on the Statement of assets and liabilities. Such risks involve the possibility that there will be no liquid market for the swap, or that a counterparty may default on its obligation or delay payment under the swap terms. The counterparty may disagree or contest the terms of the swap. In addition to interest rate risk, market risks may also impact the swap. The portfolios may also suffer losses if it is unable to terminate or assign outstanding swaps or reduce its exposure through offsetting transactions.

**Total Return Swaps. The portfolios may enter into total return swap contracts to obtain synthetic exposure to a specific reference asset or index without owning, taking physical custody of, or short selling the underlying assets. Total return swaps are commitments where one party pays a fixed or variable rate premium (the Buyer) in exchange for a market-linked return (the Seller). The Seller pays the total return of a specific reference asset or index and in return receives interest payments from the Buyer. To the extent the total return of the underlying asset or index exceeds or falls short of the offsetting interest rate obligation, the Buyer will receive or make a payment to the Seller. A portfolio may enter into total return swaps in which it may act as either the Buyer or the Seller. Total return swap contracts are subject to the risk associated with the investment in the underlying reference asset or index. The risk in the case of short total return swap contracts is unlimited based on the potential for unlimited increases in the market value of the underlying reference asset or index.**

The following table details how the portfolios used total return swaps during the six months ended June 30, 2025. In addition, the table summarizes the range of notional contract amounts held by the portfolios, as measured at each quarter end:

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Reason** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**USD Notional range** |
| Disciplined Value Emerging Markets Equity Trust | &nbsp;&nbsp;&nbsp;&nbsp;To gain exposure to a security or market without investing directly in such security or market. | &nbsp;&nbsp;&nbsp;&nbsp;From $2.1 million to $3.0 million |

---

#### Fair value of derivative instruments by risk category
The table below summarizes the fair value of derivatives held by the portfolios at June 30, 2025 by risk category:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Risk** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Statements of<br> assets and<br> liabilities location** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Financial<br> instruments<br> location** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Assets<br> derivatives<br> fair value** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Liabilities<br> derivatives<br> fair value** |
| **500 Index Trust** | &nbsp;&nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;Receivable/payable for futures variation margin<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;$8583988 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Capital Appreciation Value Trust** | &nbsp;&nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;Written options, at value | &nbsp;&nbsp;&nbsp;&nbsp;Written options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(1113909) |
| **Disciplined Value Emerging Markets Equity Trust** | &nbsp;&nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;Swap contracts, at value | &nbsp;&nbsp;&nbsp;&nbsp;Total return swaps | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$312380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **International Equity Index Trust** | &nbsp;&nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;Receivable/payable for futures variation margin<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$657840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **International Small Company Trust** | &nbsp;&nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;Receivable/payable for futures variation margin<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13014 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Mid Cap Index Trust** | &nbsp;&nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;Receivable/payable for futures variation margin<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$924336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Small Cap Index Trust** | &nbsp;&nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;Receivable/payable for futures variation margin<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$208710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Strategic Equity Allocation Trust** | &nbsp;&nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;Receivable/payable for futures variation margin<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;$6446492 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total Stock Market Index Trust** | &nbsp;&nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;Receivable/payable for futures variation margin<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$752027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

<br> <sup>1</sup> Reflects cumulative appreciation/depreciation on open futures as disclosed in the Derivatives section of the Portfolios of investments. Only the period end variation margin receivable/payable is separately reported on the Statements of assets and liabilities.

For financial reporting purposes, the portfolios do not offset OTC derivative assets or liabilities that are subject to master netting arrangements, as defined by the ISDAs, in the Statements of assets and liabilities. In the event of default by the counterparty or a termination of the agreement, the ISDA allows an offset of amounts across the various transactions between the portfolio and the applicable counterparty.

#### Effect of derivative instruments on the Statements of operations
The table below summarizes the net realized gain (loss) included in the net increase (decrease) in net assets from operations, classified by derivative instrument and risk category, for the six months ended June 30, 2025:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;&nbsp;**Statements of operations location - Net realized gain (loss) on:** | &nbsp;&nbsp;&nbsp;**Statements of operations location - Net realized gain (loss) on:** | &nbsp;&nbsp;&nbsp;**Statements of operations location - Net realized gain (loss) on:** |  |
| **Portfolio** | &nbsp;&nbsp;&nbsp;**Risk** | &nbsp;&nbsp;&nbsp;**Futures contracts** | &nbsp;&nbsp;&nbsp;**Written options** | &nbsp;&nbsp;&nbsp;**Swap contracts** | &nbsp;&nbsp;&nbsp;**Total** |
| **500 Index Trust** | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;$(4894105) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;$(4894105) |
| **Capital Appreciation Value Trust** | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;$845442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$845442 |
| **Disciplined Value Emerging Markets Equity Trust** | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;$468086 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$468086 |
| **International Equity Index Trust** | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;$6285027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$6285027 |
| **International Small Company Trust** | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$72764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$72764 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

#### Derivative instruments, continued &nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;&nbsp;**Statements of operations location - Net realized gain (loss) on:** | &nbsp;&nbsp;&nbsp;**Statements of operations location - Net realized gain (loss) on:** | &nbsp;&nbsp;&nbsp;**Statements of operations location - Net realized gain (loss) on:** |  |
| **Portfolio** | &nbsp;&nbsp;&nbsp;**Risk** | &nbsp;&nbsp;&nbsp;**Futures contracts** | &nbsp;&nbsp;&nbsp;**Written options** | &nbsp;&nbsp;&nbsp;**Swap contracts** | &nbsp;&nbsp;&nbsp;**Total** |
| **Mid Cap Index Trust** | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;$(3508975) | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(3508975) |
| **Small Cap Core Trust** | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;$4329218 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;$4329218 |
| **Small Cap Index Trust** | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;$(1991873) | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(1991873) |
| **Strategic Equity Allocation Trust** | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;$(2152366) | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(2152366) |
| **Total Stock Market Index Trust** | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;$(627022) | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(627022) |

---

The table below summarizes the net change in unrealized appreciation (depreciation) included in the net increase (decrease) in net assets from operations, classified by derivative instrument and risk category, for the six months ended June 30, 2025:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;&nbsp;**Statements of operations location - Change in net unrealized appreciation (depreciation) of:** | &nbsp;&nbsp;&nbsp;**Statements of operations location - Change in net unrealized appreciation (depreciation) of:** | &nbsp;&nbsp;&nbsp;**Statements of operations location - Change in net unrealized appreciation (depreciation) of:** |  |
| **Portfolio** | &nbsp;&nbsp;&nbsp;**Risk** | &nbsp;&nbsp;&nbsp;**Futures contracts** | &nbsp;&nbsp;&nbsp;**Written options** | &nbsp;&nbsp;&nbsp;**Swap contracts** | &nbsp;&nbsp;&nbsp;**Total** |
| **500 Index Trust** | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;$19836693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;$19836693 |
| **Capital Appreciation Value Trust** | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;$(538330) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(538330) |
| **Disciplined Value Emerging Markets Equity Trust** | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;$346211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$346211 |
| **International Equity Index Trust** | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;$1001648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$1001648 |
| **International Small Company Trust** | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$45672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$45672 |
| **Mid Cap Index Trust** | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;$2440656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$2440656 |
| **Small Cap Index Trust** | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;$1087513 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$1087513 |
| **Strategic Equity Allocation Trust** | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;$14214402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;$14214402 |
| **Total Stock Market Index Trust** | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;$1650942 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$1650942 |

---

4. Guarantees and indemnifications

Under the Trust's organizational documents, its Officers and Trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust, including the portfolios. Additionally, in the normal course of business, the Trust enters into contracts with service providers that contain general indemnification clauses. The Trust's maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Trust that have not yet occurred. The risk of material loss from such claims is considered remote.

5. Fees and transactions with affiliates

John Hancock Variable Trust Advisers LLC (the Advisor) serves as investment advisor for the portfolios. John Hancock Distributors, LLC (the Distributor), an affiliate of the Advisor, serves as principal underwriter of the portfolios. The Advisor and the Distributor are indirect, principally owned subsidiaries of John Hancock Life Insurance Company (U.S.A.), which in turn is a subsidiary of Manulife Financial Corporation.

**Management fee. Under an investment management agreement, the portfolios, with the exception of the JHVIT Feeder Funds, pay a daily management fee to the Advisor based on the net assets of the respective portfolio or aggregate net assets, which include the net assets of the respective portfolio and the net assets of a similar portfolio of John Hancock Funds II (JHF II) unless otherwise noted below. JHF II portfolios are advised by John Hancock Investment Management LLC, an affiliate of the Advisor, and are distributed by an affiliate of the Advisor, John Hancock Investment Management Distributors LLC. The annual rate for each portfolio is as follows:**

• *500 Index Trust* — a) 0.470% of the first $500 million of average net assets; and b) 0.460% of the excess over $500 million of average net assets.

• *Blue Chip Growth Trust* — 0.780% of the first $500 million of aggregate net assets. If aggregate net assets are between $500 million and $1 billion, then 0.775% of all aggregate net assets. If aggregate net assets are between $1 billion and $2 billion, then the following fee schedule shall apply: a) 0.750% of the first $1 billion of aggregate net assets; b) 0.740% of the excess over $1 billion of aggregate net assets. If aggregate net assets exceed $2 billion, then the following fee schedule shall apply: a) 0.740% of the first $3 billion of aggregate net assets; b) 0.725% of the excess over $3 billion of aggregate net assets. Aggregate net assets include net assets of the portfolio, JHF II Blue Chip Growth Fund and Manulife North American Equity Fund Series – (I) (Asia).

• *Capital Appreciation Value Trust* — If aggregate net assets are less than $500 million, then the following fee schedule shall apply: a) 0.950% of the first $250 million of aggregate net assets; and b) 0.850% of the excess over $250 million of aggregate net assets. If aggregate net assets equal or exceed $500 million but are less than $2 billion, then the following fee schedule shall apply: a) 0.850% of the first $1 billion of aggregate net assets; and b) 0.800% of the excess over $1 billion of aggregate net assets. If aggregate net assets equal or exceed $2 billion but are less than $3 billion, then the following fee schedule shall apply: a) 0.850% of the first $500 million of aggregate net assets; and b) 0.800% of the excess over $500 million of aggregate net assets. If aggregate net assets equals or exceed $3 billion, then the management fee to be paid is 0.800% of all levels of aggregate net assets.

• *Disciplined Value Emerging Markets Equity Trust* — a) 0.780% of the first $100 million of aggregate net assets; b) 0.750% of the next $900 million of aggregate net assets; c) 0.740% of the next $1 billion of aggregate net assets; and d) 0.730% of the excess over $2 billion of aggregate net assets.

• *Disciplined Value International Trust* — a) 0.710% of the first $500 million of aggregate net assets; b) 0.690% of the next $500 million of aggregate net assets; c) 0.680% of the next $1 billion of aggregate net assets; d) 0.670% of the next $1 billion of aggregate net assets; e) 0.660% of the next $2 billion of aggregate net assets; and f) 0.650% of the excess over $5 billion of aggregate net assets. Aggregate net assets are the net assets of the portfolio, Manulife Boston Partners International Equity Fund, Disciplined Value International Fund, a series of John Hancock Investment Trust, MLI Pension Plus Growth Fund, Manulife Balanced Fund, Manulife MIM Diversified Fund, Manulife Diversified Tri-Plan Fund, Manulife Aggressive Asset Allocation Fund, Manulife Balanced Asset Allocation Fund, Manulife Growth Asset Allocation Fund, Manulife Moderate Asset Allocation Fund and Manulife Retirement Date 2025, 2030, 2035, 2040, 2045, 2050, 2055, 2060 and 2065 Funds.

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

#### Fees and transactions with affiliates, continued &nbsp;&nbsp;&nbsp;&nbsp;
• *Equity Income Trust* — a) 0.800% of the first $100 million of aggregate net assets; b) 0.775% of the next $100 million of aggregate net assets; c) 0.750% of the next $300 million of aggregate net assets; d) 0.725% of the next $500 million of aggregate net assets; e) 0.725% of the next $500 million of aggregate net assets; f) 0.700% of the next $500 million of aggregate net assets; g) 0.695% of the next $1 billion of aggregate net assets; h) 0.690% of the next $1 billion of aggregate net assets; i) 0.680% of the next $1.5 billion of aggregate net assets; j) 0.675% of the next $2 billion of aggregate net assets; and k) 0.670% of the excess over $7.5 billion of aggregate net assets. When aggregate net assets exceed $200 million on any day, the annual rate of advisory fee for that day is 0.775% on the first $200 million of aggregate net assets. When aggregate net assets exceed $500 million on any day, the annual rate of advisory fee for that day is 0.750% on the first $500 million of aggregate net assets and 0.725% on aggregate net assets over $500 million. When aggregate net assets exceed $1 billion on any day, the annual rate of advisory fee for that day is 0.725% on the first $1 billion of aggregate net assets. When aggregate net assets exceed $1.5 billion on any day, the annual rate of advisory fee for that day is 0.700% on the first $1.5 billion of aggregate net assets. When aggregate net assets exceed $2 billion on any day, the annual rate of advisory fee for that day is 0.695% on the first $2 billion of aggregate net assets. When aggregate net assets exceed $3 billion on any day, the annual rate of advisory fee for that day is 0.690% on the first $3 billion of aggregate net assets. When aggregate net assets exceed $4 billion on any day, the annual rate of advisory fee for that day is 0.680% on the first $4 billion of aggregate net assets. When aggregate net assets exceed $5.5 billion on any day, the annual rate of advisory fee for that day is 0.675% on the first $5.5 billion of aggregate net assets. When aggregate net assets exceed $7.5 billion on any day, the annual rate of advisory fee for that day is 0.670% on the first $7.5 billion of aggregate net assets. Aggregate net assets are the net assets of the portfolio, JHF II Equity Income Fund, Manulife US Large Cap Value Equity Fund (Canada) and Manulife North American Equity Fund Series II (Asia).

• *Financial Industries Trust* — a) 0.800% of the first $250 million of aggregate net assets; b) 0.775% of aggregate net assets between $250 million and $500 million; c) 0.750% of aggregate net assets between $500 million and $1 billion; and d) 0.725% of the excess over $1 billion of aggregate net assets.

• *Fundamental All Cap Core Trust* — a) 0.675% of the first $2.5 billion of aggregate net assets; and b) 0.650% of the excess over $2.5 billion of aggregate net assets.

• *Fundamental Large Cap Value Trust* — a) 0.700% of the first $500 million of average net assets; b) 0.650% of average net assets between $500 million and $1 billion; and c) 0.600% of the excess over $1 billion of average net assets.

• *Global Equity Trust* — a) 0.800% of the first $1 billion of aggregate net assets; and b) 0.790% of the excess over $1 billion of aggregate net assets.

• *Health Sciences Trust* — If aggregate net assets are less than $750 million, then the following fee schedule shall apply: a) 1.050% of the first $500 million of aggregate net assets; and b) 1.000% of the next $250 million of aggregate net assets. If aggregate net assets equal or exceed $750 million but are less than $1.5 billion, then the following fee schedule shall apply: a) 0.95% of the first $1 billion of aggregate net assets; and b) 0.90% of the next $500 million of aggregate net assets. If aggregate net assets equal or exceed $1.5 billion but are less than $2 billion, then the management fee to be paid is 0.77% of all levels of aggregate net assets. If aggregate net assets equal or exceed $2 billion, then the management fee to be paid is 0.75% of all levels of aggregate net assets. Aggregate net assets are the net assets of the portfolio and Manulife Healthcare Fund Series I. Prior to March 28, 2025, aggregate net assets were the net assets of the portfolio, JHF II Health Sciences Fund and Manulife Healthcare Fund Series I.

• *International Equity Index Trust* — a) 0.550% of the first $100 million of average net assets; b) 0.530% of the next $150 million of average net assets; c) 0.520% of the next $250 million of average net assets; and d) 0.510% of the excess over $500 million of average net assets.

• *International Small Company Trust* — 0.800% of aggregate net assets.

• *Lifestyle Portfolios* — The management fee has two components: a) a fee on net assets invested in affiliated funds (Affiliated funds assets) excluding 500 Index Trust, International Equity Index Trust and Total Bond Market Trust, and b) a fee on net assets not invested in affiliated funds (Other assets). The management fee paid on Affiliated funds assets is: a) 0.050% of the first $7.5 billion of aggregate net assets; and b) 0.040% of the excess over $7.5 billion in aggregate net assets. The advisory fee paid on Other assets is as follows: a) 0.500% of the first $7.5 billion of aggregate net assets; and b) 0.490% of the excess over $7.5 billion in aggregate net assets. Aggregate net assets are the net assets of the Lifestyle Portfolios, JHVIT Managed Volatility Portfolios, JHF II Multimanager Lifestyle Portfolios and JHF II Lifestyle Blend Portfolios.

• *Mid Cap Growth Trust* — a) 0.875% of the first $200 million of aggregate net assets; b) 0.850% of aggregate net assets between $200 million and $500 million; c) 0.825% of aggregate net assets between $500 million and $3.2 billion; d) 0.800% of aggregate net assets between $3.2 billion and $3.7 billion; e) 0.775% of aggregate net assets between $3.7 billion and $4.2 billion; and f) 0.755% of the excess over $4.2 billion of aggregate net assets.

• *Mid Cap Index Trust, Small Cap Index Trust and Total Stock Market Index Trust* — a) 0.490% of the first $250 million of average net assets; b) 0.480% of average net assets between $250 million and $500 million; and c) 0.460% of the excess over $500 million of average net assets.

• *Mid Value Trust* — a) 0.950% of the first $1 billion of aggregate net assets; b) 0.865% of the excess over $1 billion of aggregate net assets; c) 0.860% of the excess over $2 billion of aggregate net assets; d) 0.855% of the excess over $3 billion of aggregate net assets; and e) 0.850% of the excess over $5.5 billion of aggregate net assets. If aggregate net assets exceed $1 billion, the management fee rate is 0.865% of all aggregate net assets. If aggregate net assets exceed $2 billion, the management fee rate is 0.860% of aggregate net assets. If aggregate net assets exceed $3 billion, the management fee rate is 0.855% of aggregate net assets. If aggregate net assets exceed $5.5 billion, the management fee rate is 0.850% of aggregate net assets.

• *Real Estate Securities Trust* — a) 0.700% of the first $1.5 billion of aggregate net assets; and b) 0.680% of the excess over $1.5 billion of aggregate net assets.

• *Science & Technology Trust* — a) 1.050% of the first $50 million of aggregate net assets; b) 1.025% of aggregate net assets between $50 million and $100 million; c) 1.000% of aggregate net assets between $100 million and $200 million; d) 0.975% of aggregate net assets between $200 million and $500 million; e) 0.950% of aggregate net assets between $500 million and $1 billion; and f) 0.925% of the excess over $1 billion of aggregate net assets. When aggregate net assets exceed $100 million on any day, the annual rate of advisory fee for that day is 1.000% on the first $100 million of aggregate net assets. When aggregate net assets exceed $200 million on any day, the annual rate of advisory fee for that day is 0.975% on the first $200 million of aggregate net assets. When aggregate net assets exceed $500 million on any day, the annual rate of advisory fee for that day is 0.950% on the first $500 million of aggregate net assets. Aggregate net assets are the net assets of the portfolio and (MMTF) Manulife Technology Fund. Prior to March 28, 2025, aggregate net assets were the net assets of the portfolio, JHF II Science & Technology Fund and (MMTF) Manulife Technology Fund.

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

• *Small Cap Core Trust* — a) 0.870% of the first $300 million of aggregate net assets; b) 0.830% of the next $300 million of aggregate net assets; c) 0.815% of the next $300 million of aggregate net assets; and d) 0.800% of the excess over $900 million of aggregate net assets. Aggregate net assets are the net assets of the portfolio and, effective April 26, 2025, JHF Small Cap Core Fund.

Prior to April 26, 2025, the annual rates were a) 0.950% of the first $250 million of aggregate net assets; b) 0.940% of the next $500 million of aggregate net assets; c) 0.930% of the next $500 million of aggregate net assets; and d) 0.920% of the excess over $1.25 billion of aggregate net assets.

• *Small Cap Opportunities Trust* — 0.720% of aggregate net assets. Aggregate net assets are the net assets of the portfolio and the JHF II New Opportunities Fund.

Prior to May 29, 2025, the annual rates were a) 1.000% of the first $500 million of aggregate net assets; b) 0.950% of aggregate net assets between $500 million and $1 billion; c) 0.900% of aggregate net assets between $1 billion and $2 billion; and d) 0.850% of the excess over $2 billion of aggregate net assets.

• *Small Cap Stock Trust* — a) 1.050% of the first $50 million of aggregate net assets; and b) 1.000% of the excess over $50 million of aggregate net assets.

• *Small Company Value Trus*t — a) 1.050% of the first $500 million of average net assets; and b) 1.000% of the excess over $500 million of average net assets.

• *Strategic Equity Allocation Trust* — a) 0.675% of the first $2.5 billion of aggregate net assets; b) 0.650% of aggregate net assets between $2.5 billion and $7.5 billion; c) 0.625% of aggregate net assets between $7.5 billion and $10 billion; d) 0.600% of aggregate net assets between $10 billion and $15 billion; e) 0.595% of aggregate net assets between $15 billion and $25 billion; and f) 0.590% of the excess over $25 billion of aggregate net assets. Aggregate net assets are the net assets of the portfolio, JHF II U.S. Sector Rotation Fund, and JHF II International Strategic Equity Allocation Fund.

• *U.S. Growth Trust* — a) 0.600% of the first $500 million of aggregate net assets; b) 0.550% of the next $1 billion of aggregate net assets; c) 0.530% of the excess over $1.5 billion of aggregate net assets. Effective May 29, 2025, aggregate net assets are the net assets of the portfolio, JHF III U.S. Growth Fund and Manulife Wellington U.S. Quality Growth Fund, a series trust of The Manufacturers Life Insurance Company.

Prior to May 29, 2025, the annual rates were a) 0.800% of the first $500 million of aggregate net assets; b) 0.700% of the next $500 million of aggregate net assets; and c) 0.670% of the excess over $1 billion of aggregate net assets.

The organizations described below act as the subadvisors to the Trust and certain of its portfolios pursuant to Subadvisory Agreements with the Advisor. Portfolio management is allocated among the following subadvisors:

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;**Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Subadvisor(s)** |
| &nbsp;&nbsp;&nbsp;Disciplined Value Emerging Markets Equity Trust<br> Disciplined Value International Trust | &nbsp;&nbsp;&nbsp;&nbsp;Boston Partners Global Investors, Inc. |
| &nbsp;&nbsp;&nbsp;International Small Company Trust<br> Small Cap Opportunities Trust<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Dimensional Fund Advisors LP |
| &nbsp;&nbsp;&nbsp;500 Index Trust<sup>2</sup> Financial Industries Trust<br> Fundamental All Cap Core Trust<br> Fundamental Large Cap Value Trust<br> Global Equity Trust<br> Lifestyle Balanced Portfolio<br> Lifestyle Conservative Portfolio<br> Lifestyle Growth Portfolio<br> Lifestyle Moderate Portfolio<br> Mid Cap Index Trust<sup>2</sup> Small Cap Core Trust<sup>3</sup> Small Cap Index Trust<sup>2</sup> Strategic Equity Allocation Trust<br> Total Stock Market Index Trust<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Manulife Investment Management (US) LLC<sup>4</sup> |
| &nbsp;&nbsp;&nbsp;International Equity Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;SSGA Funds Management, Inc. |
| &nbsp;&nbsp;&nbsp;Blue Chip Growth Trust<br> Capital Appreciation Value Trust<br> Equity Income Trust<br> Health Sciences Trust<br> Mid Value Trust<br> Science & Technology Trust<br> Small Company Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;T. Rowe Price Associates, Inc. |
| &nbsp;&nbsp;&nbsp;Mid Cap Growth Trust<br> Real Estate Securities Trust<br> Small Cap Stock Trust<br> U.S. Growth Trust<sup>5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Wellington Management Company LLP |

---

<sup>1</sup> Effective May 28, 2025, Dimensional Fund Advisors LP became the sole subadvisor to the portfolio and GW&K Investment Management, LLC no longer serves as subadvisor.

<sup>2</sup> Prior to June 30, 2025, the subadvisor of the portfolio was Manulife Investment Management (North America) Limited.

<sup>3</sup> Prior to April 25, 2025, the subadvisor of the portfolio was Wellington Management Company LLP.

<sup>4</sup> An affiliate of the Advisor.

<sup>5</sup> Prior to May 28, 2025, the subadvisor of the portfolio was Jennison Associates LLC.

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

#### Fees and transactions with affiliates, continued &nbsp;&nbsp;&nbsp;&nbsp; The portfolios are not responsible for payment of the subadvisory fees.
**Expense reimbursements. The Advisor voluntarily agreed to waive a portion of its management fee if certain expenses of the respective portfolios exceed the percentage of average net assets as detailed below. Expenses excluded from this waiver are taxes, portfolio brokerage commissions, interest expense, litigation and indemnification expenses and other extraordinary expenses not incurred in the ordinary course of the portfolios' business, advisory fees, Rule 12b-1 fees, underlying fund expenses and in the case of a feeder fund, the expenses of the master fund, and short dividends. This expense reduction will continue in effect until terminated by the Advisor.**

---

| | |
|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Expense limitation as a percentage<br> of average net assets** |
| American Asset Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.10% |
| American Global Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.10% |
| American Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.10% |
| American Growth-Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.10% |
| American International Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.10% |
| Blue Chip Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.20% |
| Capital Appreciation Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.20% |
| Disciplined Value Emerging Markets Equity Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.25% |
| Disciplined Value International Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.25% |
| Equity Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.20% |
| Financial Industries Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.20% |
| Fundamental All Cap Core Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.20% |
| Fundamental Large Cap Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.20% |
| Global Equity Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.25% |
| Health Sciences Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.20% |

---

---

| | |
|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Expense limitation as a percentage<br> of average net assets** |
| International Small Company Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.25% |
| Mid Cap Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.20% |
| Mid Cap Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.08% |
| Mid Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.20% |
| Real Estate Securities Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.20% |
| Science & Technology Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.20% |
| Small Cap Core Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.20% |
| Small Cap Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.08% |
| Small Cap Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.20% |
| Small Cap Stock Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.20% |
| Small Company Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.20% |
| Strategic Equity Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.20% |
| Total Stock Market Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.08% |
| U.S. Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.20% |

---

The Advisor has contractually agreed to waive a portion of its management fee and/or reimburse expenses for certain portfolios of the John Hancock group of funds complex (the participating portfolios), excluding the Lifestyle Portfolios. This waiver is based upon aggregate net assets of all the participating portfolios. The amount of the reimbursement is calculated daily and allocated among all the participating portfolios in proportion to the daily net assets of each portfolio. During the six months ended June 30, 2025, this waiver amounted to 0.01% of the portfolios' average net assets, on an annualized basis. This agreement expires on July 31, 2027, unless renewed by mutual agreement of the portfolios and the Advisor based upon a determination that this is appropriate under the circumstances at that time.

The Advisor has contractually agreed to limit operating expenses of 500 Index Trust and International Equity Index Trust at 0.25% and 0.34%, respectively. These limits exclude taxes, brokerage commissions, interest expense, litigation and indemnification expenses and other extraordinary expenses not incurred in the ordinary course of the portfolio's business, class-specific expenses, borrowing costs, prime brokerage fees, acquired fund fees and expenses paid indirectly, and short dividend expense. The Advisor's obligation to provide the expense cap will remain in effect until April 30, 2026, unless renewed by mutual agreement of the portfolios and the Advisor based upon a determination that this is appropriate under the circumstances at that time.

The Advisor has contractually agreed to reimburse expenses for the Lifestyle Portfolios so that certain other expenses do not exceed 0.04% of average net assets of the Lifestyle Portfolios. This waiver includes all expenses except advisory fees, taxes, brokerage commissions, interest expense, litigation and indemnification expenses and other extraordinary expenses not incurred in the ordinary course of the portfolio's business, distribution and service (Rule 12b-1) fees, underlying fund expenses (acquired fund fees), and short dividend expense. This expense reimbursement will remain in effect until April 30, 2026, unless renewed by mutual agreement of the portfolios and the Advisor based upon a determination that this is appropriate under the circumstances at that time.

The Advisor contractually agrees to reduce its management fee or, if necessary, make payment to Lifestyle Balanced Portfolio Series I, Series II and Series NAV shares in an amount equal to the amount by which expenses of Lifestyle Balanced Portfolio Series I, Series II and Series NAV shares exceed 1.83% of average daily net assets attributable to each class. This reimbursement includes all expenses of the applicable class except taxes, brokerage commissions, interest expense, litigation and indemnification expenses and other extraordinary expenses not incurred in the ordinary course of the portfolio's business, and short dividend expense. This expense reimbursement will remain in effect until April 30, 2027 unless renewed by mutual agreement of the portfolio and the Advisor based upon a determination that this is appropriate under the circumstances at that time. Prior to April 30, 2025, the Advisor contractually agreed to reduce its management fee, or if necessary, make a payment to Lifestyle Growth Portfolio Series I shares in an amount equal to the amount by which expenses of the portfolio's Series I shares exceeded 0.92% of average daily net assets attributable to the class.

The Advisor has contractually agreed to waive its management fee for Small Cap Opportunities Trust so that the amount retained by the Advisor after the payment of subadvisory fees does not exceed 0.45% of the portfolio's average daily net assets. The expense reimbursements will remain in effect until April 30, 2026, unless renewed by mutual agreement of the portfolio and the Advisor based upon a determination that this is appropriate under the circumstances at that time and may be terminated at any time thereafter.

The Advisor has contractually agreed to waive its management fee for Mid Cap Index Trust and Small Cap Index Trust by 0.10% and 0.05% of the portfolios' average net assets, respectively. The expense limitation agreements expire on April 30, 2026, unless renewed by mutual agreement of the portfolios and the Advisor based upon a determination that this is appropriate under the circumstances at that time.

The Advisor contractually agreed to reduce its management fee or, if necessary, make payment to Fundamental Large Cap Value Trust Series I shares in an amount equal to the amount by which expenses of the portfolio's Series I shares exceeded 0.88% of average daily net assets attributable to the class. This waiver included all expenses of the class (including fund expenses attributable to the class), excluding taxes, brokerage commissions, interest expense, litigation and indemnification expenses and other extraordinary expenses not incurred in the ordinary course of the portfolio's business, underlying fund expenses (acquired fund fees), and short dividend expense. This agreement expired on April 30, 2025.

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

**Fees and transactions with affiliates, continued &nbsp;&nbsp;&nbsp;&nbsp; The Advisor contractually agreed to reduce its management fee or, if necessary, make payment to Small Cap Index Trust Series I and Series NAV shares in an amount equal to the amount by which expenses of the portfolio's Series I and Series NAV shares exceeded 0.70% of average daily net assets attributable to the class. This waiver included all expenses of the class (including fund expenses attributable to the class), excluding taxes, brokerage commissions, interest expense, litigation and indemnification expenses and other extraordinary expenses not incurred in the ordinary course of the portfolio's business, underlying fund expenses (acquired fund fees), and short dividend expense. This agreement expired on April 30, 2025.**

The Advisor has voluntarily agreed to reduce its management fee for portfolios that are subadvised by T. Rowe Price Associates, Inc. by the amount that the subadvisory fee is reduced pursuant to the subadvisory agreement with T. Rowe Price. This waiver impacts Blue Chip Growth Trust, Capital Appreciation Value Trust, Equity Income Trust, Health Sciences Trust, Mid Value Trust, Science & Technology Trust and Small Company Value Trust. This waiver may be terminated at any time by the Advisor.

The Advisor has voluntarily agreed to waive its management fee for Strategic Equity Allocation Trust so that the amount retained by the Advisor after payment of the sub-advisory fee does not exceed 0.45% of the portfolio's average net assets. This voluntary management fee waiver may be terminated at any time by the Advisor upon notice to the Trust.

The Advisor has voluntarily agreed to waive its management fee for Lifestyle Balanced Portfolio, Lifestyle Conservative Portfolio, Lifestyle Growth Portfolio, and Lifestyle Moderate Portfolio (after giving effect to asset-based breakpoints) by 0.005% of the portfolios' average daily net assets. This waiver may be terminated at any time by the Advisor upon notice to the Trust.

The Advisor has voluntarily agreed to waive its management fee for each Lifestyle Portfolio so that the aggregate management fee retained by the Advisor with respect to both the Lifestyle Portfolio and its underlying investments (after payment of subadvisory fees) does not exceed 0.50% of the Lifestyle Portfolios' first $7.5 billion of average net assets and 0.49% of the Lifestyle Portfolios' average net assets in excess of $7.5 billion. The Advisor may terminate this voluntary waiver at any time.

The Advisor has voluntarily agreed to reduce the advisory fee that would be payable by Fundamental Large Cap Value Trust and Total Stock Market Index Trust (after giving effect to asset-based breakpoints) by 0.003% and 0.07% of the portfolios' average daily net assets, respectively. This voluntary advisory fee waiver may be terminated at any time by the Advisor upon notice to the Trust.

For the six months ended June 30, 2025, the waivers under these agreements amounted to:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Expense reimbursement by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Expense reimbursement by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Expense reimbursement by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Expense reimbursement by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Expense reimbursement by class** |
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series I** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series II** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series III** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total** |
| 500 Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;$9179426 | &nbsp;&nbsp;&nbsp;&nbsp;$112465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$4102865 | &nbsp;&nbsp;&nbsp;&nbsp;$13394756 |
| American Asset Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15722 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28361 | &nbsp;&nbsp;&nbsp;&nbsp;$4228 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48311 |
| American Global Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4526 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7982 |
| American Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41474 |
| American Growth-Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14926 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38752 |
| American International Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1082 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14544 |
| Blue Chip Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63409 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;288027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;371455 |
| Capital Appreciation Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54713 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112817 |
| Disciplined Value Emerging Markets Equity Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;893 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9474 |
| Disciplined Value International Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3088 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1799 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11573 |
| Equity Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34628 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164283 |
| Financial Industries Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4173 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6306 |
| Fundamental All Cap Core Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4338 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99671 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106039 |
| Fundamental Large Cap Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12381 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48204 |
| Global Equity Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;845 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12007 |
| Health Sciences Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10595 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9612 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33786 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53993 |
| International Equity Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;459288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;887580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1372648 |
| International Small Company Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;779 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2744 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4057 |
| Lifestyle Balanced Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17809 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23765 |
| Lifestyle Conservative Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2751 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29381 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1643 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33775 |
| Lifestyle Growth Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102893 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123855 |
| Lifestyle Moderate Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29852 |
| Mid Cap Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17876 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26038 |
| Mid Cap Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;636197 |
| Mid Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151894 |
| Real Estate Securities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11846 |
| Science & Technology Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17107 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;306045 |
| Small Cap Core Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4634 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15341 |
| Small Cap Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6851 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147235 |
| Small Cap Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171739 |
| Small Cap Stock Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;706 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11351 |
| Small Company Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13181 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9572 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19677 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42430 |
| Strategic Equity Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4808322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4808322 |
| Total Stock Market Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;394567 |
| U.S. Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9087 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15546 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27190 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

#### Fees and transactions with affiliates, continued &nbsp;&nbsp;&nbsp;&nbsp; Expenses waived or reimbursed in the current fiscal period are not subject to recapture in future fiscal periods.
The investment management fees, including the impact of the waivers and reimbursements as described above, incurred for the six months ended June 30, 2025, were equivalent to a net annual effective rate of the portfolios' average daily net assets as follows:

---

| | |
|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net Annual Effective Rate** |
| 500 Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.21% |
| American Asset Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.00%\* |
| American Global Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.00%\* |
| American Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.00%\* |
| American Growth-Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.00%\* |
| American International Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.00%\* |
| Blue Chip Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.69% |
| Capital Appreciation Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.78% |
| Disciplined Value Emerging Markets Equity Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.75% |
| Disciplined Value International Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.66% |
| Equity Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.65% |
| Financial Industries Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.78% |
| Fundamental All Cap Core Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.66% |
| Fundamental Large Cap Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.67% |
| Global Equity Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.79% |
| Health Sciences Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.78% |
| International Equity Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.24% |
| International Small Company Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.79% |

---

---

| | |
|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net Annual Effective Rate** |
| Lifestyle Balanced Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;0.04% |
| Lifestyle Conservative Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;0.00% |
| Lifestyle Growth Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;0.04% |
| Lifestyle Moderate Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;0.02% |
| Mid Cap Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.83% |
| Mid Cap Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.36% |
| Mid Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.81% |
| Real Estate Securities Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.69% |
| Science & Technology Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.89% |
| Small Cap Core Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.90% |
| Small Cap Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.42% |
| Small Cap Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.73% |
| Small Cap Stock Trust | &nbsp;&nbsp;&nbsp;&nbsp;1.00% |
| Small Company Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.98% |
| Strategic Equity Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.49% |
| Total Stock Market Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.39% |
| U.S. Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.67% |

---

\* The JHVIT Feeder Funds do not incur investment advisory fees. Investment advisory fees are incurred by the master fund. For more information on these portfolios, see Note 1.

**Accounting and legal services. Pursuant to a service agreement, the portfolios reimburse the Advisor for all expenses associated with providing the administrative, financial, legal, compliance, accounting and recordkeeping services to the portfolios, including the preparation of all tax returns, periodic reports to shareholders and regulatory reports, among other services. These expenses are allocated to each share class based on its relative net assets at the time the expense was incurred. These accounting and legal services fees incurred, for the six months ended June 30, 2025, amounted to an annual rate of 0.02% of the portfolios' average daily net assets.**

**Distribution and service plans. The portfolios have a distribution agreement with the Distributor. The portfolios have adopted distribution and service plans for certain classes as detailed below pursuant to Rule 12b-1 under the 1940 Act, to pay the Distributor for services provided as the distributor of shares of the portfolios. The portfolios may pay up to the following contractual rates of distribution and service fees under these arrangements, expressed as an annual percentage of average daily net assets for each class of the portfolios' shares.**

For all portfolios, except the JHVIT Feeder Funds, Rule 12b-1 maximum fee rates are as follows:

---

| | |
|:---|:---|
| **Class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Rule 12b-1 Fee** |
| Series I | &nbsp;&nbsp;&nbsp;&nbsp;0.15% |
| Series II | &nbsp;&nbsp;&nbsp;&nbsp;0.35% |

---

Currently, only 0.05% for Series I shares and 0.25% for Series II shares are charged for Rule 12b-1 fees.

For the JHVIT Feeder Funds, Rule 12b-1 maximum fee rates are as follows:

---

| | |
|:---|:---|
| **Class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Rule 12b-1 Fee** |
| Series I | &nbsp;&nbsp;&nbsp;&nbsp;0.60% |
| Series II | &nbsp;&nbsp;&nbsp;&nbsp;0.75% |
| Series III | &nbsp;&nbsp;&nbsp;&nbsp;0.25% |

---

Distribution and service fees for the six months ended June 30, 2025 were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Distribution and service fees by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Distribution and service fees by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Distribution and service fees by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Distribution and service fees by class** |
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series l** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series ll** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series lll** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total** |
| 500 Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;$1799357 | &nbsp;&nbsp;&nbsp;&nbsp;$110309 | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$1909666 |
| American Asset Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1133055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2555481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126982 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3815518 |
| American Global Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;407563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32458 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;611184 |
| American Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1054396 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2084362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3248838 |
| American Growth-Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1075051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1504624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2793325 |
| American International Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;376387 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;742048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32487 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1150922 |
| Blue Chip Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217165 |
| Capital Appreciation Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;284091 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286045 |
| Disciplined Value Emerging Markets Equity Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28356 |
| Disciplined Value International Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54059 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72612 |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

#### Fees and transactions with affiliates, continued &nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Distribution and service fees by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Distribution and service fees by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Distribution and service fees by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Distribution and service fees by class** |
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series l** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series ll** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series lll** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total** |
| Equity Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;$51924 | &nbsp;&nbsp;&nbsp;&nbsp;$121727 | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$173651 |
| Financial Industries Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19446 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42156 |
| Fundamental All Cap Core Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24859 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83041 |
| Fundamental Large Cap Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290300 |
| Global Equity Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53643 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79018 |
| Health Sciences Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11068 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61207 |
| International Equity Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81857 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104486 |
| International Small Company Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4683 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20714 |
| Lifestyle Balanced Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;890524 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;899429 |
| Lifestyle Conservative Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168715 |
| Lifestyle Growth Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5144907 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5193491 |
| Lifestyle Moderate Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255529 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;258464 |
| Mid Cap Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109175 |
| Mid Cap Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269322 |
| Mid Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56849 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118284 |
| Real Estate Securities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11678 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39000 |
| Science & Technology Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192917 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70701 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263618 |
| Small Cap Core Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48048 |
| Small Cap Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28821 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112356 |
| Small Cap Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19307 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31621 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50928 |
| Small Cap Stock Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37868 |
| Small Company Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42878 |
| Total Stock Market Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57839 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191974 |
| U.S. Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54497 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76674 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131171 |

---

The Distributor voluntarily agreed to waive 0.06%, 0.08%, 0.09%, 0.07% and 0.05% of its Rule 12b-1 fee for Series II of American Asset Allocation Trust, American Global Growth Trust, American Growth Trust, American Growth-Income Trust and American International Trust, respectively.

For the six months ended June 30, 2025, the waivers under these agreements amounted to:

---

| | |
|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series ll** |
| American Asset Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;$204438 |
| American Global Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43473 |
| American Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250124 |
| American Growth-Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140432 |
| American International Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49470 |

---

**Trustee expenses. The portfolios compensate each Trustee who is not an employee of the Advisor or its affiliates. The costs of paying Trustee compensation and expenses are allocated to each portfolio based on their net assets relative to other funds within the John Hancock group of funds complex.**

**Interfund lending program. Pursuant to an Exemptive Order issued by the SEC, the portfolios, along with certain other funds advised by the Advisor or its affiliates, may participate in an interfund lending program. This program provides an alternative credit facility allowing the portfolios to borrow from, or lend money to, other participating affiliated funds. At period end, open loans, if any, are presented under the caption Receivable/Payable for interfund lending in the Statements of assets and liabilities. Interest expense is included in Other expenses on the Statements of operations. The portfolios' activity in this program during the period for which loans were outstanding was as follows:**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Borrower<br> or Lender** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Weighted Average<br> Loan Balance** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Days<br> Outstanding** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Weighted Average<br> Interest Rate** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Interest Income<br> (Expense)** |
| Blue Chip Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;Lender | &nbsp;&nbsp;&nbsp;&nbsp;$7000000 | &nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;4.836% | &nbsp;&nbsp;&nbsp;&nbsp;$1881 |
| Capital Appreciation Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;Lender | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21000000 | &nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;4.830% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2818 |
| Disciplined Value Emerging Markets Equity Trust | &nbsp;&nbsp;&nbsp;&nbsp;Lender | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8300000 | &nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;4.840% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1116 |
| Disciplined Value International Trust | &nbsp;&nbsp;&nbsp;&nbsp;Borrower | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700000 | &nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;4.855% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(364) |
| Disciplined Value International Trust | &nbsp;&nbsp;&nbsp;&nbsp;Lender | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8000000 | &nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;4.840% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3227 |
| Equity Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;Lender | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4150000 | &nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;4.817% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1111 |
| International Equity Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;Borrower | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2100000 | &nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;4.895% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(286) |
| International Equity Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;Lender | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3340000 | &nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp;&nbsp;&nbsp;4.813% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2233 |
| Mid Cap Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;Lender | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6300000 | &nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp;&nbsp;&nbsp;4.827% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4224 |
| Mid Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;Lender | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20060000 | &nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp;&nbsp;&nbsp;4.826% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13446 |
| Science & Technology Trust | &nbsp;&nbsp;&nbsp;&nbsp;Lender | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1900000 | &nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;4.835% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255 |
| Small Cap Core Trust | &nbsp;&nbsp;&nbsp;&nbsp;Lender | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10600000 | &nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;4.820% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1419 |
| Small Cap Stock Trust | &nbsp;&nbsp;&nbsp;&nbsp;Lender | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4120000 | &nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp;&nbsp;&nbsp;4.836% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2767 |
| Small Company Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;Lender | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1900000 | &nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;4.805% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254 |
| Strategic Equity Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;Borrower | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12900000 | &nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;4.810% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5171) |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Borrower<br> or Lender** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Weighted Average<br> Loan Balance** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Days<br> Outstanding** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Weighted Average<br> Interest Rate** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Interest Income<br> (Expense)** |
| U.S. Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;Lender | &nbsp;&nbsp;&nbsp;&nbsp;8275000 | &nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp;4.814% | &nbsp;&nbsp;&nbsp;&nbsp;4425 |

---

6. Portfolio share transactions

Transactions in portfolios' shares for the six months ended June 30, 2025 and for the year ended December 31, 2024 were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **500 Index Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;3488522 | &nbsp;&nbsp;&nbsp;&nbsp;$208574178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8384294 | &nbsp;&nbsp;&nbsp;&nbsp;$473404375 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2609878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156436116 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(3808123) | &nbsp;&nbsp;&nbsp;&nbsp;(230033469) | &nbsp;&nbsp;&nbsp;&nbsp;(6310670) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(356168087) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**(319601)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(21459291)** | &nbsp;&nbsp;&nbsp;&nbsp;**4683502** | &nbsp;&nbsp;&nbsp;&nbsp;**$273672404** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44458 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2729734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129997 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7379004 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30586 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1833633 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(133004) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8057261) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(283895) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15934639) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(88546)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(5327527)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(123312)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(6722002)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;1493643 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$89282406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1567631 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$90754653 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1194680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71609133 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1920134) | &nbsp;&nbsp;&nbsp;&nbsp;(115978008) | &nbsp;&nbsp;&nbsp;&nbsp;(4279727) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(241022564) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(426491)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(26695602)** | &nbsp;&nbsp;&nbsp;&nbsp;**(1517416)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(78658778)** |
| **Total net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**(834638)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(53482420)** | &nbsp;&nbsp;&nbsp;&nbsp;**3042774** | &nbsp;&nbsp;&nbsp;&nbsp;**$188291624** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **American Asset Allocation Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223956 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2268052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;952118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9477426 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2851442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28415938 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1271706) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12668114) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2492843) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24627130) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**(1047750)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(10400062)** | &nbsp;&nbsp;&nbsp;&nbsp;**1310717** | &nbsp;&nbsp;&nbsp;&nbsp;**$13266234** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$46563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$349440 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5293839 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52721639 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(5181651) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(51733975) | &nbsp;&nbsp;&nbsp;&nbsp;(11101499) | &nbsp;&nbsp;&nbsp;&nbsp;(109971187) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(5176979)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(51687412)** | &nbsp;&nbsp;&nbsp;&nbsp;**(5772425)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(56900108)** |
| **Series III shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$417822 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;816233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8159908 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(660041) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6689230) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1658479) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16450126) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(660041)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(6689230)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(798466)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(7872396)** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(6884770)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(68776704)** | &nbsp;&nbsp;&nbsp;&nbsp;**(5260174)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(51506270)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **American Global Growth Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2941566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;294485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4614991 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;448639 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6635654 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(480373) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7015476) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(344293) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5242954) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(275191)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(4073910)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**398831** | &nbsp;&nbsp;&nbsp;&nbsp;**$6007691** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1788693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$514887 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;879353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12895863 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(716761) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10671357) | &nbsp;&nbsp;&nbsp;&nbsp;(1374079) | &nbsp;&nbsp;&nbsp;&nbsp;(21160262) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(590211)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(8882664)** | &nbsp;&nbsp;&nbsp;&nbsp;**(463132)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(7749512)** |
| **Series III shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$384289 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61344 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$962730 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206691 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3080831 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(208456) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3173516) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(307313) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4817381) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(181162)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(2789227)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(39278)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(773820)** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(1046564)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(15745801)** | &nbsp;&nbsp;&nbsp;&nbsp;**(103579)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(2515641)** |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

#### Portfolio share transactions, continued &nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **American Growth Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;986139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$18155662 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1675605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$29392860 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1535467 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27039941 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1024841) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19493115) | &nbsp;&nbsp;&nbsp;&nbsp;(1691297) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(29171742) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(38702)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(1337453)** | &nbsp;&nbsp;&nbsp;&nbsp;**1519775** | &nbsp;&nbsp;&nbsp;&nbsp;**$27261059** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;741800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$12702461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2815704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$48542734 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(3230948) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(60046298) | &nbsp;&nbsp;&nbsp;&nbsp;(7081716) | &nbsp;&nbsp;&nbsp;&nbsp;(122562046) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(2489148)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(47343837)** | &nbsp;&nbsp;&nbsp;&nbsp;**(4266012)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(74019312)** |
| **Series III shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3093123 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1212 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$20618 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;436130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7666292 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(593852) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11438348) | &nbsp;&nbsp;&nbsp;&nbsp;(1148314) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20309572) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(413708)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(8345225)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(710972)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(12622662)** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(2941558)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(57026515)** | &nbsp;&nbsp;&nbsp;&nbsp;**(3457209)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(59380915)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **American Growth-Income Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2993296 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;792963 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13818728 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1491452 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26662119 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1018869) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18366360) | &nbsp;&nbsp;&nbsp;&nbsp;(1947640) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(33626790) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(854276)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(15373064)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**336775** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$6854057** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2492167 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5429 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$102284 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1743009 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30911701 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1621672) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(29307321) | &nbsp;&nbsp;&nbsp;&nbsp;(4726972) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(82919617) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(1478142)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(26815154)** | &nbsp;&nbsp;&nbsp;&nbsp;**(2978534)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(51905632)** |
| **Series III shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2843870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1089 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$18781 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;777962 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13917294 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(961339) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17690001) | &nbsp;&nbsp;&nbsp;&nbsp;(2103856) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(37264268) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(798461)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(14846131)** | &nbsp;&nbsp;&nbsp;&nbsp;**(1324805)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(23328193)** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(3130879)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(57034349)** | &nbsp;&nbsp;&nbsp;&nbsp;**(3966564)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(68379768)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **American International Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;489420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7451087 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495171 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7671700 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74401 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1114114 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(359748) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5511563) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(702444) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10718673) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**129672** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$1939524** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(132872)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(1932859)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$222239 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;912994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13623007 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103122 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1544898 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1209731) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18682538) | &nbsp;&nbsp;&nbsp;&nbsp;(2094521) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(32206013) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(1195631)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(18460299)** | &nbsp;&nbsp;&nbsp;&nbsp;**(1078405)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(17038108)** |
| **Series III shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1607981 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;318581 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(170831) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2661908) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(275978) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4239419) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(170831)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(2661908)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(146116)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(2312857)** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(1236790)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(19182683)** | &nbsp;&nbsp;&nbsp;&nbsp;**(1357393)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(21283824)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Blue Chip Growth Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1520160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4764620 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;881157 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28549482 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(780503) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25716052) | &nbsp;&nbsp;&nbsp;&nbsp;(1641543) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(52143361) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(735402)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(24195892)** | &nbsp;&nbsp;&nbsp;&nbsp;**(608240)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(18829259)** |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Blue Chip Growth Trust, Cont'd** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74617 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2184820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3102507 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;338654 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10037709 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(350509) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10550207) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(789675) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23095148) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(275892)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(8365387)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(344412)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(9954932)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6026421 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;655766 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$22134241 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3976948 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129489442 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(2779080) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(94234508) | &nbsp;&nbsp;&nbsp;&nbsp;(8147652) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(262943581) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(2591840)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(88208087)** | &nbsp;&nbsp;&nbsp;&nbsp;**(3514938)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(111319898)** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(3603134)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(120769366)** | &nbsp;&nbsp;&nbsp;&nbsp;**(4467590)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(140104089)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Capital Appreciation Value Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162902 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2059432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52078 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$595140 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10832 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131612 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(64313) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(781995) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(81707) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(953856) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**98589** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$1277437** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(18797)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(227104)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42723 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$522366 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$360179 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3736654 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1736244) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21143496) | &nbsp;&nbsp;&nbsp;&nbsp;(3094012) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(36216971) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(1693521)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(20621130)** | &nbsp;&nbsp;&nbsp;&nbsp;**(2752995)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(32120138)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;936000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11553961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;767709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9087897 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;331569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4011981 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(997897) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12448543) | &nbsp;&nbsp;&nbsp;&nbsp;(1587288) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18170583) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(61897)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(894582)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(488010)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(5070705)** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(1656829)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(20238275)** | &nbsp;&nbsp;&nbsp;&nbsp;**(3259802)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(37417947)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Disciplined Value Emerging Markets Equity Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$423033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140399 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1406280 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;238617 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(105150) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1084219) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(154019) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1567902) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(63767)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(661186)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10434** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$76995** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117803 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1177965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1054225 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86949 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;862538 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(258864) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2608963) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(531196) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5394564) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(141061)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(1430998)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(337639)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(3477801)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;627563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6213241 | &nbsp;&nbsp;&nbsp;&nbsp;1878716 | &nbsp;&nbsp;&nbsp;&nbsp;$18731875 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;836641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8282745 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1069798) | &nbsp;&nbsp;&nbsp;&nbsp;(10747558) | &nbsp;&nbsp;&nbsp;&nbsp;(1149558) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11798096) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**(442235)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(4534317)** | &nbsp;&nbsp;&nbsp;&nbsp;**1565799** | &nbsp;&nbsp;&nbsp;&nbsp;**$15216524** |
| **Total net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**(647063)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(6626501)** | &nbsp;&nbsp;&nbsp;&nbsp;**1238594** | &nbsp;&nbsp;&nbsp;&nbsp;**$11815718** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Disciplined Value International Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2395518 | &nbsp;&nbsp;&nbsp;&nbsp;186667 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2828028 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;448111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6824735 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(438483) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7033820) | &nbsp;&nbsp;&nbsp;&nbsp;(709305) | &nbsp;&nbsp;&nbsp;&nbsp;(11352501) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(292301)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(4638302)** | &nbsp;&nbsp;&nbsp;&nbsp;**(74527)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(1699738)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1215063 | &nbsp;&nbsp;&nbsp;&nbsp;102001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1466162 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;257666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3921669 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(278271) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4410733) | &nbsp;&nbsp;&nbsp;&nbsp;(387886) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6242472) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(201821)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(3195670)** | &nbsp;&nbsp;&nbsp;&nbsp;**(28219)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(854641)** |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Disciplined Value International Trust, Cont'd** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;256545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3957106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;735576 | &nbsp;&nbsp;&nbsp;&nbsp;$11372173 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;1039525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15676041 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1622974) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23744082) | &nbsp;&nbsp;&nbsp;&nbsp;(978313) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15584957) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**(1366429)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(19786976)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**796788** | &nbsp;&nbsp;&nbsp;&nbsp;**$11463257** |
| **Total net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**(1860551)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(27620948)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**694042** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$8908878** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Equity Income Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$486748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129217 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1844647 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;908626 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13247765 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(870437) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12604555) | &nbsp;&nbsp;&nbsp;&nbsp;(2021644) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(29174313) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(836657)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(12117807)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(983801)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(14081901)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23094 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$330567 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63941 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$900896 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;427113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6167507 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(707856) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10151332) | &nbsp;&nbsp;&nbsp;&nbsp;(1368923) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19532840) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(684762)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(9820765)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(877869)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(12464437)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;665650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9503429 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;694771 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10067320 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4616111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66656647 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(41326311) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(607226753) | &nbsp;&nbsp;&nbsp;&nbsp;(9844173) | &nbsp;&nbsp;&nbsp;&nbsp;(140863231) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(40660661)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(597723324)** | &nbsp;&nbsp;&nbsp;&nbsp;**(4533291)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(64139264)** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(42182080)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(619661896)** | &nbsp;&nbsp;&nbsp;&nbsp;**(6394961)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(90685602)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Financial Industries Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;505519 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7470831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;937480 | &nbsp;&nbsp;&nbsp;&nbsp;$12669196 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;840158 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1181556) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16717856) | &nbsp;&nbsp;&nbsp;&nbsp;(1324366) | &nbsp;&nbsp;&nbsp;&nbsp;(16006452) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(676037)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(9247025)** | &nbsp;&nbsp;&nbsp;&nbsp;**(325561)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(2497098)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1256904 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1384363 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9601 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129808 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(151544) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2119937) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(305293) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3754612) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(60294)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(863033)** | &nbsp;&nbsp;&nbsp;&nbsp;**(188004)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(2240441)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77631 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1120337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111874 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1420794 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22537 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;307177 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(109833) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1557637) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(310143) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3870077) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(32202)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(437300)** | &nbsp;&nbsp;&nbsp;&nbsp;**(175732)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(2142106)** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(768533)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(10547358)** | &nbsp;&nbsp;&nbsp;&nbsp;**(689297)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(6879645)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fundamental All Cap Core Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2816644 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;379459 | &nbsp;&nbsp;&nbsp;&nbsp;$12074194 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315203 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10032913 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(519258) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16124727) | &nbsp;&nbsp;&nbsp;&nbsp;(860768) | &nbsp;&nbsp;&nbsp;&nbsp;(27371542) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(425974)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(13308083)** | &nbsp;&nbsp;&nbsp;&nbsp;**(166106)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(5264435)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33631 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1002920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2588516 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4539165 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(147144) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4519092) | &nbsp;&nbsp;&nbsp;&nbsp;(335029) | &nbsp;&nbsp;&nbsp;&nbsp;(10646423) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(113513)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(3516172)** | &nbsp;&nbsp;&nbsp;&nbsp;**(110931)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(3518742)** |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fundamental All Cap Core Trust, Cont'd** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1476145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;938598 | &nbsp;&nbsp;&nbsp;&nbsp;$28458273 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;6706980 | &nbsp;&nbsp;&nbsp;&nbsp;215562330 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(3732401) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(114472845) | &nbsp;&nbsp;&nbsp;&nbsp;(6103259) | &nbsp;&nbsp;&nbsp;&nbsp;(196119068) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**(3683241)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(112996700)** | &nbsp;&nbsp;&nbsp;&nbsp;**1542319** | &nbsp;&nbsp;&nbsp;&nbsp;**$47901535** |
| **Total net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**(4222728)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(129820955)** | &nbsp;&nbsp;&nbsp;&nbsp;**1265282** | &nbsp;&nbsp;&nbsp;&nbsp;**$39118358** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fundamental Large Cap Value Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3087325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;237385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6523263 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;1761708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47936072 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1297747) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(34725465) | &nbsp;&nbsp;&nbsp;&nbsp;(2335698) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(64950107) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(1182140)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(31638140)** | &nbsp;&nbsp;&nbsp;&nbsp;**(336605)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(10490772)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$919996 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16514 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$462343 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;549329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15117520 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(392869) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10695699) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(914578) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25700229) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(357984)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(9775703)** | &nbsp;&nbsp;&nbsp;&nbsp;**(348735)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(10120366)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;224017 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5946254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;778192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$21901898 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;777711 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21177077 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(849107) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21674685) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(612155) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17156454) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(625090)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(15728431)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**943748** | &nbsp;&nbsp;&nbsp;&nbsp;**$25922521** |
| **Total net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**(2165214)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(57142274)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**258408** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$5311383** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Global Equity Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50821 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1288795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;277625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6552659 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;576232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13714332 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(841099) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20113479) | &nbsp;&nbsp;&nbsp;&nbsp;(1445808) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(34990055) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(790278)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(18824684)** | &nbsp;&nbsp;&nbsp;&nbsp;**(591951)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(14723064)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$494402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13817 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$330594 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53838 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1271106 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(80975) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1931160) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(149838) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3583631) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(59175)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(1436758)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(82183)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(1981931)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55339 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1334713 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62086 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1499358 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3325027 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(153109) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3637883) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(100177) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2439039) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(97770)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(2303170)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**101734** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$2385346** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(947223)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(22564612)** | &nbsp;&nbsp;&nbsp;&nbsp;**(572400)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(14319649)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Health Sciences Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8621 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$186498 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1203800 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3481776 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(278733) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6081778) | &nbsp;&nbsp;&nbsp;&nbsp;(526317) | &nbsp;&nbsp;&nbsp;&nbsp;(13137283) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(270112)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(5895280)** | &nbsp;&nbsp;&nbsp;&nbsp;**(334371)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(8451707)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25396 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$496903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78721 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1654403 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176589 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3641274 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(198534) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3769185) | &nbsp;&nbsp;&nbsp;&nbsp;(506595) | &nbsp;&nbsp;&nbsp;&nbsp;(10857542) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(173138)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(3272282)** | &nbsp;&nbsp;&nbsp;&nbsp;**(251285)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(5561865)** |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Health Sciences Trust, Cont'd** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3015093 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4993881 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;408411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10226623 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(543235) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12246361) | &nbsp;&nbsp;&nbsp;&nbsp;(694508) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17636643) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(408971)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(9231268)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(88744)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(2416139)** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(852221)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(18398830)** | &nbsp;&nbsp;&nbsp;&nbsp;**(674400)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(16429711)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **International Equity Index Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;854495 | &nbsp;&nbsp;&nbsp;&nbsp;$17748508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$16298096 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257524 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5104125 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(830883) | &nbsp;&nbsp;&nbsp;&nbsp;(16873808) | &nbsp;&nbsp;&nbsp;&nbsp;(2616198) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(50126116) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23612** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$874700** | &nbsp;&nbsp;&nbsp;&nbsp;**(1508472)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(28723895)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23727 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$485294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2066511 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12807 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254350 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(77998) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1592309) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(246409) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4779602) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(54271)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(1107015)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(127715)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(2458741)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;2724925 | &nbsp;&nbsp;&nbsp;&nbsp;$53028703 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2674644 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$51174134 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;494910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9804159 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(2421492) | &nbsp;&nbsp;&nbsp;&nbsp;(51339993) | &nbsp;&nbsp;&nbsp;&nbsp;(2334575) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(44685997) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**303433** | &nbsp;&nbsp;&nbsp;&nbsp;**$1688710** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**834979** | &nbsp;&nbsp;&nbsp;&nbsp;**$16292296** |
| **Total net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**272774** | &nbsp;&nbsp;&nbsp;&nbsp;**$1456395** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(801208)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(14890340)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **International Small Company Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1249041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91947 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1188355 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;634624 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(162852) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2312719) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(230868) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3025011) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(77851)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(1063678)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(90476)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(1202032)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70919 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$970834 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$904297 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;403121 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(121515) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1696453) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(142431) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1870374) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(50596)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(725619)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(41743)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(562956)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1202036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;377898 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4901671 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2324209 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(720976) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9843743) | &nbsp;&nbsp;&nbsp;&nbsp;(1287528) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16926267) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(630982)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(8641707)** | &nbsp;&nbsp;&nbsp;&nbsp;**(732210)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(9700387)** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(759429)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(10431004)** | &nbsp;&nbsp;&nbsp;&nbsp;**(864429)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(11465375)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Lifestyle Balanced Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55917 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$743022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1347557 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1811123 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(259529) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3453787) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(410669) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5463235) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(203612)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(2710765)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(174052)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(2304555)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8385789 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1223570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$16245296 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2663188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35495359 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(4377147) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(57962102) | &nbsp;&nbsp;&nbsp;&nbsp;(8676513) | &nbsp;&nbsp;&nbsp;&nbsp;(115252032) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(3752127)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(49576313)** | &nbsp;&nbsp;&nbsp;&nbsp;**(4789755)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(63511377)** |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Lifestyle Balanced Portfolio, Cont'd** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252559 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3370551 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3680614 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$49373633 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;702783 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9317113 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(869145) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11461069) | &nbsp;&nbsp;&nbsp;&nbsp;(1001904) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13441220) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(616586)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(8090518)** | &nbsp;&nbsp;&nbsp;&nbsp;**3381493** | &nbsp;&nbsp;&nbsp;&nbsp;**$45249526** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(4572325)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(60377596)** | &nbsp;&nbsp;&nbsp;&nbsp;**(1582314)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(20566406)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Lifestyle Conservative Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109602 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1246045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1802188 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;424087 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(195452) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2232371) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(240048) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2752969) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(85850)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(986326)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(48076)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(526694)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;273048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3137751 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;805702 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9340289 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;374374 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4244584 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1059898) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12175215) | &nbsp;&nbsp;&nbsp;&nbsp;(2189706) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25026191) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(786850)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(9037464)** | &nbsp;&nbsp;&nbsp;&nbsp;**(1009630)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(11441318)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79374 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$905969 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77619 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$891627 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22142 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250333 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(132977) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1522939) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(47868) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(538169) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(53603)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(616970)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**51893** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$603791** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(926303)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(10640760)** | &nbsp;&nbsp;&nbsp;&nbsp;**(1005813)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(11364221)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Lifestyle Growth Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$960443 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124856 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1748582 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;831500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11663304 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(891580) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12442168) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1847756) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25830185) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(823581)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(11481725)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(891400)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(12418299)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203361 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2864557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;505837 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7158573 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17219933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;241799171 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(20977635) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(293468134) | &nbsp;&nbsp;&nbsp;&nbsp;(44754393) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(625594973) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(20774274)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(290603577)** | &nbsp;&nbsp;&nbsp;&nbsp;**(27028623)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(376637229)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405417 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5729627 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1501245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$20809825 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2703100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37898081 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1078327) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14983722) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1578850) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22019651) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(672910)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(9254095)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2625495** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$36688255** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(22270765)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(311339397)** | &nbsp;&nbsp;&nbsp;&nbsp;**(25294528)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(352367273)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Lifestyle Moderate Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30804 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$387981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18151 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$226844 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;567581 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(112573) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1414637) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(118700) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1469755) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(81769)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(1026656)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(55152)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(675330)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;369920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4634845 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;514843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6462913 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;754382 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9454027 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1313209) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16432011) | &nbsp;&nbsp;&nbsp;&nbsp;(3540483) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(44272533) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(943289)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(11797166)** | &nbsp;&nbsp;&nbsp;&nbsp;**(2271258)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(28355593)** |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Lifestyle Moderate Portfolio, Cont'd** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2418260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2873697 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177389 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2216112 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(280051) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3498934) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(324125) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4101033) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(87470)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(1080674)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**81363** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$988776** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(1112528)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(13904496)** | &nbsp;&nbsp;&nbsp;&nbsp;**(2245047)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(28042147)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Mid Cap Growth Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;224455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2323053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1816143 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1187610) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12539749) | &nbsp;&nbsp;&nbsp;&nbsp;(2512721) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23958896) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(963155)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(10216696)** | &nbsp;&nbsp;&nbsp;&nbsp;**(2314301)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(22142753)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$771513 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1015056 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(637207) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5196753) | &nbsp;&nbsp;&nbsp;&nbsp;(1842868) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13842396) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(549517)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(4425240)** | &nbsp;&nbsp;&nbsp;&nbsp;**(1707443)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(12827340)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1641391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$17991018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1544466 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$16534378 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(3535385) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(40214607) | &nbsp;&nbsp;&nbsp;&nbsp;(7108134) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(73284409) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(1893994)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(22223589)** | &nbsp;&nbsp;&nbsp;&nbsp;**(5563668)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(56750031)** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(3406666)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(36865525)** | &nbsp;&nbsp;&nbsp;&nbsp;**(9585412)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(91720124)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Mid Cap Index Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5376424 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;624042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13470128 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1862638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39581057 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(2995483) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(61907635) | &nbsp;&nbsp;&nbsp;&nbsp;(5832724) | &nbsp;&nbsp;&nbsp;&nbsp;(122967094) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(2731652)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(56531211)** | &nbsp;&nbsp;&nbsp;&nbsp;**(3346044)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(69915909)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$148611 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21263 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$446100 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2396749 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(188715) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3895577) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(394798) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8221346) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(181561)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(3746966)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(259783)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(5378497)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;641139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13065823 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;936338 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$19977576 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;639945 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13592425 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(849131) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17766262) | &nbsp;&nbsp;&nbsp;&nbsp;(1250240) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(26205190) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(207992)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(4700439)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**326043** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$7364811** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(3121205)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(64978616)** | &nbsp;&nbsp;&nbsp;&nbsp;**(3279784)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(67929595)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Mid Value Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1909276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1037142 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11021747 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1216948 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13276901 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1883112) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19783418) | &nbsp;&nbsp;&nbsp;&nbsp;(3524593) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(38079602) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(1700859)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(17874142)** | &nbsp;&nbsp;&nbsp;&nbsp;**(1270503)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(13780954)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$384493 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96367 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1043416 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;256386 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2802300 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(367752) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3869791) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(931820) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9983806) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(332402)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(3485298)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(579067)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(6138090)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2270181 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3241409 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1721716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18577319 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1549492) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16288888) | &nbsp;&nbsp;&nbsp;&nbsp;(5179827) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(55280171) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(1328986)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(14018707)** | &nbsp;&nbsp;&nbsp;&nbsp;**(3162208)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(33461443)** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(3362247)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(35378147)** | &nbsp;&nbsp;&nbsp;&nbsp;**(5011778)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(53380487)** |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Real Estate Securities Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$299056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1216229 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1044208 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(195042) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3911167) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(437749) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8615342) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(180377)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(3612111)** | &nbsp;&nbsp;&nbsp;&nbsp;**(327664)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(6354905)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$142258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$688552 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;454334 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(85283) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1713741) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(259109) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5097765) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(78096)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(1571483)** | &nbsp;&nbsp;&nbsp;&nbsp;**(201828)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(3954879)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1711186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;471524 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9129418 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;226414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4836202 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(560297) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11241613) | &nbsp;&nbsp;&nbsp;&nbsp;(1060307) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20711951) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(473241)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(9530427)** | &nbsp;&nbsp;&nbsp;&nbsp;**(362369)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(6746331)** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(731714)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(14714021)** | &nbsp;&nbsp;&nbsp;&nbsp;**(891861)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(17056115)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Science & Technology Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;628867 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13999682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1735326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$36824590 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(3928410) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(91430206) | &nbsp;&nbsp;&nbsp;&nbsp;(6204273) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(131950402) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(3299543)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(77430524)** | &nbsp;&nbsp;&nbsp;&nbsp;**(4468947)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(95125812)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2277431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2408896 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(420014) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7920625) | &nbsp;&nbsp;&nbsp;&nbsp;(1041677) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19242596) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(301645)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(5643194)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(909893)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(16833700)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;429926 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10634554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;531450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$12084642 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(829425) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20482945) | &nbsp;&nbsp;&nbsp;&nbsp;(1432610) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(32340702) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(399499)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(9848391)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(901160)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(20256060)** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(4000687)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(92922109)** | &nbsp;&nbsp;&nbsp;&nbsp;**(6280000)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(132215572)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Small Cap Core Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1298650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;302063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4282408 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560643 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7781731 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(794261) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10429834) | &nbsp;&nbsp;&nbsp;&nbsp;(1540850) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21617950) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(690668)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(9131184)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(678144)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(9553811)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$219554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51744 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$739414 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1101472 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(114628) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1495456) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(241496) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3357798) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(97645)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(1275902)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(109470)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(1516912)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4894715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;814136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11247881 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1397720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19274555 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9740965) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(117859278) | &nbsp;&nbsp;&nbsp;&nbsp;(2728344) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(38847853) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(9365756)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(112964563)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(516488)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(8325417)** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(10154069)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(123371649)** | &nbsp;&nbsp;&nbsp;&nbsp;**(1304102)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(19396140)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Small Cap Index Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;348540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4474722 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1567843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$21800440 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;711192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9978020 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(2049171) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27585467) | &nbsp;&nbsp;&nbsp;&nbsp;(4266974) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(58324678) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(1700631)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(23110745)** | &nbsp;&nbsp;&nbsp;&nbsp;**(1987939)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(26546218)** |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Small Cap Index Trust, Cont'd** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$296902 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1829901 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;665587 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(196515) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2633342) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(423593) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5657909) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(173783)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(2336440)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(243467)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(3162421)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;620977 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8252443 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1313265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$18221521 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3893643 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(600136) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8003323) | &nbsp;&nbsp;&nbsp;&nbsp;(2275900) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(29973863) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**20841** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$249120** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(685705)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(7858699)** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(1853573)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(25198065)** | &nbsp;&nbsp;&nbsp;&nbsp;**(2917111)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(37567338)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Small Cap Opportunities Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17819 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$457799 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72338 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1996897 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5270646 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(169637) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4496178) | &nbsp;&nbsp;&nbsp;&nbsp;(362351) | &nbsp;&nbsp;&nbsp;&nbsp;(10193993) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(151818)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(4038379)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(98423)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(2926450)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$343180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1303036 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1758771 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(91656) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2383251) | &nbsp;&nbsp;&nbsp;&nbsp;(176538) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4766646) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(78329)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(2040071)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(62775)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(1704839)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;256316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6592115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;353015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9806057 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3560035 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(79795) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2106050) | &nbsp;&nbsp;&nbsp;&nbsp;(543624) | &nbsp;&nbsp;&nbsp;&nbsp;(14735216) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**176521** | &nbsp;&nbsp;&nbsp;&nbsp;**$4486065** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(59773)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(1369124)** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(53626)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(1592385)** | &nbsp;&nbsp;&nbsp;&nbsp;**(220971)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(6000413)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Small Cap Stock Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303088 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1891372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;724913 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4538384 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1003322) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6326251) | &nbsp;&nbsp;&nbsp;&nbsp;(2416705) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15101470) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(700234)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(4434879)** | &nbsp;&nbsp;&nbsp;&nbsp;**(1691792)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(10563086)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30636 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$163896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82968 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$454214 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(397563) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2159964) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(771559) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4072299) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(366927)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(1996068)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(688591)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(3618085)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;783028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5023552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2975214 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$20890231 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1736494) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11291133) | &nbsp;&nbsp;&nbsp;&nbsp;(3751691) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24415896) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(953466)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(6267581)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(776477)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(3525665)** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(2020627)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(12698528)** | &nbsp;&nbsp;&nbsp;&nbsp;**(3156860)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(17706836)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Small Company Value Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18251 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$172201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42061 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$397040 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184642 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1776252 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(275909) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2578013) | &nbsp;&nbsp;&nbsp;&nbsp;(728314) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6894122) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(257658)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(2405812)** | &nbsp;&nbsp;&nbsp;&nbsp;**(501611)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(4720830)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18758 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$163103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$470602 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1324580 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(224874) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1926394) | &nbsp;&nbsp;&nbsp;&nbsp;(646268) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5667834) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(206116)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(1763291)** | &nbsp;&nbsp;&nbsp;&nbsp;**(445036)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(3872652)** |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Small Company Value Trust, Cont'd** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1781019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;281453 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2626211 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;272490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2602283 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(159235) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1495029) | &nbsp;&nbsp;&nbsp;&nbsp;(551849) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5329603) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**37841** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$285990** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2094** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(101109)** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(425933)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(3883113)** | &nbsp;&nbsp;&nbsp;&nbsp;**(944553)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(8694591)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Strategic Equity Allocation Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138359 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2438919 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;738519 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13228257 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41555415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;741764159 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(34218648) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(620185868) | &nbsp;&nbsp;&nbsp;&nbsp;(71034339) | &nbsp;&nbsp;&nbsp;&nbsp;(1308378084) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(34080289)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(617746949)** | &nbsp;&nbsp;&nbsp;&nbsp;**(28740405)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(553385668)** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(34080289)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(617746949)** | &nbsp;&nbsp;&nbsp;&nbsp;**(28740405)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(553385668)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Total Stock Market Index Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498812 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13839310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;936293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$25844228 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;858392 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24232404 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1652244) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(47359965) | &nbsp;&nbsp;&nbsp;&nbsp;(2891298) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(78113277) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(1153432)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(33520655)** | &nbsp;&nbsp;&nbsp;&nbsp;**(1096613)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(28036645)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11424 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$329779 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76527 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2010641 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72856 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2042884 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(121777) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3399179) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(306200) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8257215) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(110353)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(3069400)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(156817)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(4203690)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1736930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$46987886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3841476 | &nbsp;&nbsp;&nbsp;&nbsp;$100565956 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;614611 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17350467 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(917029) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(26726522) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(509053) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14104285) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**819901** | &nbsp;&nbsp;&nbsp;&nbsp;**$20261364** | &nbsp;&nbsp;&nbsp;&nbsp;**3947034** | &nbsp;&nbsp;&nbsp;&nbsp;**$103812138** |
| **Total net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(443884)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(16328691)** | &nbsp;&nbsp;&nbsp;&nbsp;**2693604** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$71571803** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **U.S. Growth Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$981828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;649040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3657952 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2020630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11800479 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(2764321) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16423596) | &nbsp;&nbsp;&nbsp;&nbsp;(6091472) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(35263310) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(2593501)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(15441768)** | &nbsp;&nbsp;&nbsp;&nbsp;**(3421802)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(19804879)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$461188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1253554 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;994866 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4357515 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1131844) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5136143) | &nbsp;&nbsp;&nbsp;&nbsp;(3213465) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14096364) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(1029220)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(4674955)** | &nbsp;&nbsp;&nbsp;&nbsp;**(1938514)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(8485295)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2457319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$15433766 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2786607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$16353521 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3163894 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18793533 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(4611018) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(28826001) | &nbsp;&nbsp;&nbsp;&nbsp;(6655273) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(38210419) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(2153699)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(13392235)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(704772)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(3063365)** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(5776420)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(33508958)** | &nbsp;&nbsp;&nbsp;&nbsp;**(6065088)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(31353539)** |

---

Affiliates of the Trust owned 100% of shares of the portfolios, with the exception of Disciplined Value Emerging Markets Equity Trust, Financial Industries Trust, Fundamental All Cap Core Trust and International Small Company Trust, where affiliates owned 99.38%, 76.08%, 99.65% and 67.48% of Series II shares, respectively, and Disciplined Value Emerging Markets Equity Trust and International Equity Index Trust, where affiliates owned 60.37% and 99.97% of Series NAV shares, respectively, on June 30, 2025. Such concentration of shareholders' capital could have a material effect on the portfolios if such shareholders redeem from the portfolios.

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

7. Purchase and sale of securities

Purchases and sales of securities, other than short-term investments, amounted to the following for the six months ended June 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Purchases** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Purchases** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Sales** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Sales** |
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**U.S. Government** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Other issuers** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**U.S. Government** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Other issuers** |
| 500 Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$75441314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$65388337 |
| American Asset Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88914705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73050011 |
| American Global Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28695427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19870794 |
| American Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107775117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82837716 |
| American Growth-Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168349184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65507897 |
| American International Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3941709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24042813 |
| Blue Chip Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205858456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;329337574 |
| Capital Appreciation Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;$101988428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168680242 | &nbsp;&nbsp;&nbsp;&nbsp;$105945613 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197682081 |
| Disciplined Value Emerging Markets Equity Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209370172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213964494 |
| Disciplined Value International Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99355754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120530852 |
| Equity Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139430118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;748600738 |
| Financial Industries Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35813052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46847024 |
| Fundamental All Cap Core Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;327176641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;411255143 |
| Fundamental Large Cap Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47723846 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87735033 |
| Global Equity Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62662561 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78184226 |
| Health Sciences Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57311931 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75044483 |
| International Equity Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36447895 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21655036 |
| International Small Company Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6328214 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14507726 |
| Lifestyle Balanced Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7544761 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69161410 |
| Lifestyle Conservative Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4447091 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15333373 |
| Lifestyle Growth Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2526845 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320569045 |
| Lifestyle Moderate Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5163613 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19443667 |
| Mid Cap Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;522049987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565779853 |
| Mid Cap Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57621760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124767516 |
| Mid Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175483437 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206488879 |
| Real Estate Securities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141029827 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150179711 |
| Science & Technology Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;1189180540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;1283515216 |
| Small Cap Core Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;397334960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;519293969 |
| Small Cap Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40616415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67227422 |
| Small Cap Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67994532 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68222965 |
| Small Cap Stock Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94532184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113144759 |
| Small Company Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25060009 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26244571 |
| Strategic Equity Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128913187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;667410756 |
| Total Stock Market Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41923721 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60870640 |
| U.S. Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;418827057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;451973039 |

---

8. Industry or sector risk

The portfolios may invest a large percentage of their assets in one or more particular industries or sectors of the economy. If a large percentage of a portfolio's assets are economically tied to a single or small number of industries or sectors of the economy, the portfolio will be less diversified than a more broadly diversified portfolio, and it may cause the portfolio to underperform if that industry or sector underperforms. In addition, focusing on a particular industry or sector may make the portfolio's NAV more volatile. Further, a portfolio that invests in particular industries or sectors is particularly susceptible to the impact of market, economic, regulatory and other factors affecting those industries or sectors. Financial services companies can be hurt by economic declines, changes in interest rates, and regulatory and market impacts. Information technology companies can be significantly affected by rapid obsolescence, short product cycles, competition from new market entrants, and heightened cybersecurity risk, among other factors.

9. Investment in affiliated underlying funds

The Lifestyle Portfolios invest primarily in affiliated underlying funds that are managed by the Advisor and its affiliates. The Lifestyle Portfolios do not invest in the affiliated underlying funds for the purpose of exercising management or control; however, the portfolios' investment may represent a significant portion of each affiliated underlying funds' net assets. At June 30, 2025, the following portfolios held 5% or more of the net assets of the affiliated underlying funds shown below:

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Affiliated Fund** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Percentage of<br> underlying fund<br> net assets** |
| Lifestyle Balanced Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;Select Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.6% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Strategic Equity Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2% |
| Lifestyle Growth Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;Strategic Equity Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;52.5% |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

#### Investment in affiliated underlying funds, continued &nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Affiliated Fund** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Percentage of<br> underlying fund<br> net assets** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Select Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;26.3% |

---

Information regarding the portfolios' fiscal year to date purchases and sales of the affiliated underlying funds as well as income and capital gains earned by the portfolios, if any, is as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  |  |  | **Dividends and distributions** | **Dividends and distributions** |  |
| **Affiliate** | **Ending<br> share<br> amount** | **Beginning<br> value** | **Cost of<br> purchases** | **Proceeds<br> from shares<br> sold** | **Realized<br> gain<br> (loss)** | **Change in<br> unrealized<br> appreciation<br> (depreciation)** | **Income<br> distributions<br> received** | **Capital gain<br> distributions<br> received** | **Ending<br> value** |
| **500 Index Trust** | **500 Index Trust** | **500 Index Trust** | **500 Index Trust** | **500 Index Trust** | **500 Index Trust** | **500 Index Trust** | **500 Index Trust** | **500 Index Trust** | **500 Index Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;29263709 | $358407091 | $432082972 | $(497754065) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$69412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(98087) | $6408281 |  | &nbsp;&nbsp;&nbsp;&nbsp;$292707323 |
| **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239532 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$150947 | &nbsp;&nbsp;$18526145 | &nbsp;&nbsp;$(16281231) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1706 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2395895 |
| **Disciplined Value Emerging Markets Equity Trust** | **Disciplined Value Emerging Markets Equity Trust** | **Disciplined Value Emerging Markets Equity Trust** | **Disciplined Value Emerging Markets Equity Trust** | **Disciplined Value Emerging Markets Equity Trust** | **Disciplined Value Emerging Markets Equity Trust** | **Disciplined Value Emerging Markets Equity Trust** | **Disciplined Value Emerging Markets Equity Trust** | **Disciplined Value Emerging Markets Equity Trust** | **Disciplined Value Emerging Markets Equity Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;729589 | &nbsp;&nbsp;&nbsp;&nbsp;$3660691 | &nbsp;&nbsp;$34262493 | &nbsp;&nbsp;$(30624998) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(636) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$92 | &nbsp;&nbsp;&nbsp;&nbsp;$56497 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7297642 |
| **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4614 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$153612 | &nbsp;&nbsp;$25937424 | &nbsp;&nbsp;$(26043825) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(1065) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4 | &nbsp;&nbsp;&nbsp;&nbsp;$40221 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$46150 |
| **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;812074 | &nbsp;&nbsp;&nbsp;$11923203 | &nbsp;&nbsp;$45282293 | &nbsp;&nbsp;$(49082759) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(204) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$152 | &nbsp;&nbsp;&nbsp;&nbsp;$16084 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8122685 |
| **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** |
| John Hancock Collateral Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;391696 | &nbsp;&nbsp;&nbsp;&nbsp;$2715316 | &nbsp;&nbsp;$25966373 | &nbsp;&nbsp;$(24763779) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(78) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$69 | &nbsp;&nbsp;&nbsp;&nbsp;$56986 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3917901 |
| **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** |
| John Hancock Collateral Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99883 | &nbsp;&nbsp;&nbsp;$46468206 | $124186191 | $(169652211) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(3539) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$425 | &nbsp;&nbsp;&nbsp;$456099 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$999072 |
| **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** |
| John Hancock Collateral Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;421639 | &nbsp;&nbsp;&nbsp;$16053207 | &nbsp;&nbsp;$43782060 | &nbsp;&nbsp;$(55615591) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(1717) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(558) | &nbsp;&nbsp;&nbsp;$344763 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4217401 |
| **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229176 | &nbsp;&nbsp;&nbsp;&nbsp;$1392383 | &nbsp;&nbsp;$46285818 | &nbsp;&nbsp;$(45385421) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(430) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(39) | &nbsp;&nbsp;&nbsp;&nbsp;$31256 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2292311 |
| **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;238271 | &nbsp;&nbsp;&nbsp;&nbsp;$2955240 | &nbsp;&nbsp;&nbsp;&nbsp;$6140189 | &nbsp;&nbsp;&nbsp;&nbsp;$(6711820) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(121) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(204) | &nbsp;&nbsp;&nbsp;&nbsp;$26515 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2383284 |
| **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** |
| John Hancock Collateral Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$22 |
| Select Bond | &nbsp;&nbsp;39703085 | &nbsp;&nbsp;&nbsp;492479965 | &nbsp;&nbsp;&nbsp;&nbsp;6705662 | &nbsp;&nbsp;$(42026268) | &nbsp;&nbsp;$(7083622) | &nbsp;&nbsp;&nbsp;&nbsp;$26361279 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476437016 |
| Strategic Equity Allocation | &nbsp;&nbsp;25865900 | &nbsp;&nbsp;&nbsp;484091749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;839096 | &nbsp;&nbsp;&nbsp;&nbsp;(27135143) | &nbsp;&nbsp;&nbsp;&nbsp;1037480 | &nbsp;&nbsp;&nbsp;&nbsp;44258564 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;503091746 |
|  |  |  |  |  | **$(6046142)** | &nbsp;&nbsp;**$70619843** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | **—** | &nbsp;&nbsp;&nbsp;**$979528784** |
| **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** |
| John Hancock Collateral Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;393 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1423 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$23236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(20726) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(3) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$21 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3930 |
| Select Bond | &nbsp;&nbsp;10186599 | &nbsp;&nbsp;&nbsp;125381226 | &nbsp;&nbsp;&nbsp;&nbsp;2041770 | &nbsp;&nbsp;&nbsp;&nbsp;(10125919) | &nbsp;&nbsp;&nbsp;&nbsp;(1597031) | &nbsp;&nbsp;&nbsp;&nbsp;$6539145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122239191 |
| Strategic Equity Allocation | &nbsp;&nbsp;&nbsp;&nbsp;1586024 | &nbsp;&nbsp;&nbsp;&nbsp;30742694 | &nbsp;&nbsp;&nbsp;&nbsp;2405322 | &nbsp;&nbsp;&nbsp;&nbsp;(5207455) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(364740) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3272342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30848163 |
|  |  |  |  |  | **$(1961774)** | &nbsp;&nbsp;&nbsp;&nbsp;**$9811487** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$21** | **—** | &nbsp;&nbsp;&nbsp;**$153091284** |
| **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** |
| John Hancock Collateral Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(249) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$75 |
| Select Bond | 121805467 | 1518681058 | &nbsp;&nbsp;&nbsp;&nbsp;2526844 | &nbsp;&nbsp;(119400548) | $(19861670) | &nbsp;&nbsp;&nbsp;&nbsp;$79719921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;1461665605 |
| Strategic Equity Allocation | 188800524 | 3543589137 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(201168947) | &nbsp;&nbsp;&nbsp;22560768 | &nbsp;&nbsp;&nbsp;&nbsp;307189226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;3672170184 |
|  |  |  |  |  | &nbsp;&nbsp;**$2699098** | **$386909147** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | **—** | **$5133835864** |
| **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  |  |  | **Dividends and distributions** | **Dividends and distributions** |  |
| **Affiliate** | **Ending<br> share<br> amount** | **Beginning<br> value** | **Cost of<br> purchases** | **Proceeds<br> from shares<br> sold** | **Realized<br> gain<br> (loss)** | **Change in<br> unrealized<br> appreciation<br> (depreciation)** | **Income<br> distributions<br> received** | **Capital gain<br> distributions<br> received** | **Ending<br> value** |
| John Hancock Collateral Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;458 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$17174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(13713) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$12 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4584 |
| Select Bond | 13349748 | &nbsp;&nbsp;160646561 | &nbsp;&nbsp;&nbsp;&nbsp;3017232 | &nbsp;&nbsp;&nbsp;&nbsp;(9923679) | &nbsp;&nbsp;&nbsp;(1371151) | &nbsp;&nbsp;&nbsp;$7828017 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;160196980 |
| Strategic Equity Allocation | &nbsp;&nbsp;5622780 | &nbsp;&nbsp;106765553 | &nbsp;&nbsp;&nbsp;&nbsp;2146381 | &nbsp;&nbsp;&nbsp;&nbsp;(9519988) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(414832) | &nbsp;&nbsp;&nbsp;10385953 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;109363067 |
|  |  |  |  |  | **$(1785985)** | **$18213970** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$12** | **—** | **$269564631** |
| **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$844750 | &nbsp;&nbsp;$75610125 | &nbsp;&nbsp;$(76455458) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$583 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6014 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;4906251 | &nbsp;&nbsp;$38188441 | $175713889 | $(164823716) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(1528) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(2805) | &nbsp;&nbsp;&nbsp;$523689 |  | &nbsp;&nbsp;&nbsp;&nbsp;$49074281 |
| **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;1101777 | &nbsp;&nbsp;&nbsp;&nbsp;$7121549 | &nbsp;&nbsp;$63611981 | &nbsp;&nbsp;$(59712495) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(460) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(157) | &nbsp;&nbsp;&nbsp;&nbsp;$68590 |  | &nbsp;&nbsp;&nbsp;&nbsp;$11020418 |
| **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$2726400 | &nbsp;&nbsp;&nbsp;&nbsp;$(2726410) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;1298763 | &nbsp;&nbsp;&nbsp;&nbsp;$3103289 | &nbsp;&nbsp;$45420053 | &nbsp;&nbsp;$(35532823) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$38 | &nbsp;&nbsp;&nbsp;$830856 |  | &nbsp;&nbsp;&nbsp;&nbsp;$12990748 |
| **Small Cap Core Trust** | **Small Cap Core Trust** | **Small Cap Core Trust** | **Small Cap Core Trust** | **Small Cap Core Trust** | **Small Cap Core Trust** | **Small Cap Core Trust** | **Small Cap Core Trust** | **Small Cap Core Trust** | **Small Cap Core Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$4131989 | &nbsp;&nbsp;$18511000 | &nbsp;&nbsp;$(22642151) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(802) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(36) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4849 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;2456554 | &nbsp;&nbsp;$24215235 | &nbsp;&nbsp;$96661164 | &nbsp;&nbsp;$(96302393) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(846) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(1732) | &nbsp;&nbsp;&nbsp;$426782 |  | &nbsp;&nbsp;&nbsp;&nbsp;$24571428 |
| **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;&nbsp;&nbsp;184570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$217658 | &nbsp;&nbsp;&nbsp;&nbsp;$7851497 | &nbsp;&nbsp;&nbsp;&nbsp;$(6222814) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(188) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(12) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4106 |  | &nbsp;&nbsp;&nbsp;&nbsp;$1846141 |
| **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;&nbsp;&nbsp;432966 | &nbsp;&nbsp;&nbsp;&nbsp;$4074271 | &nbsp;&nbsp;$43307309 | &nbsp;&nbsp;$(43049934) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(1044) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$98 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8865 |  | &nbsp;&nbsp;&nbsp;&nbsp;$4330700 |
| **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;&nbsp;&nbsp;222216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$469701 | &nbsp;&nbsp;$10773091 | &nbsp;&nbsp;&nbsp;&nbsp;$(9019991) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(137) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4642 |  | &nbsp;&nbsp;&nbsp;&nbsp;$2222693 |
| **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** |
| John Hancock Collateral Trust\* | 24658646 | $238632355 | $879373242 | $(871322100) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(15376) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(22476) | $4472983 |  | &nbsp;&nbsp;$246645645 |
| **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;3176369 | &nbsp;&nbsp;$25230922 | $114056460 | $(107508264) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(3775) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(4026) | &nbsp;&nbsp;&nbsp;$624846 |  | &nbsp;&nbsp;&nbsp;&nbsp;$31771317 |

---

\* Refer to the Securities lending note within Note 2 for details regarding this investment.

10. Investment in affiliates of advisor

Information regarding the portfolios' fiscal year to date purchases and sales of affiliated investments of the advisor as well as income and capital gains earned by the portfolios, if any, is as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  |  |  | **Dividends and distributions** | **Dividends and distributions** |  |
| **Affiliate** | **Ending<br> share<br> amount** | **Beginning<br> value** | **Cost of<br> purchases** | **Proceeds<br> from shares<br> sold** | **Realized<br> gain<br> (loss)** | **Change in<br> unrealized<br> appreciation<br> (depreciation)** | **Income<br> distributions<br> received** | **Capital gain<br> distributions<br> received** | **Ending<br> value** |
| **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** |
| Manulife Financial Corp. | 61400 | $1895490 | $19109 | $(27312) | $7958 | $67932 | $32258 |  | $1963177 |

---

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[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

11. Investment by affiliated funds

Certain investors in the portfolios are affiliated funds that are managed by the Advisor and its affiliates. The affiliated funds do not invest in the portfolios for the purpose of exercising management or control; however, this investment may represent a significant portion of the portfolios' net assets. At June 30, 2025, affiliated concentration (as a percentage of the portfolios' net assets) is as follows:

---

| | |
|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Affiliated Concentration** |
| Blue Chip Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.9% |
| Mid Cap Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20.1% |
| Mid Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29.3% |
| Strategic Equity Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;100.0% |

---

12. Interfund trading

The portfolios are permitted to purchase or sell securities from or to certain other affiliated funds, as set forth in Rule 17a-7 of the 1940 Act, under specified conditions outlined in procedures adopted by the Board of Trustees of the Trust. The procedures have been designed to ensure that any purchase or sale of securities by the portfolios from or to another fund that is or could be considered an affiliate complies with Rule 17a-7 of the 1940 Act. Further, as defined under the procedures, each transaction is effected at the current market price. Pursuant to these procedures, for the six months ended June 30, 2025, the portfolios engaged in securities purchases and sales with affiliated funds, some of which have different fiscal reporting periods, as follows:

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Purchases** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Sales** |
| Small Company Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$300618 |

---

13. Restricted securities

The portfolios may hold restricted securities which are restricted as to resale and the portfolios have limited rights to registration under the Securities Act of 1933. Disposal may involve time-consuming negotiations and expenses, and prompt sale at an acceptable price may be difficult to achieve. The following table summarizes the restricted securities held at June 30, 2025:

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Issuer,<br> Description** | &nbsp;&nbsp;&nbsp;**Original<br> acquisition date** | &nbsp;&nbsp;&nbsp;**Acquisition<br> cost** | &nbsp;&nbsp;&nbsp;**Beginning<br> share<br> amount** | &nbsp;&nbsp;&nbsp;**Shares<br> purchased** | &nbsp;&nbsp;&nbsp;**Shares<br> sold** | &nbsp;&nbsp;&nbsp;**Ending<br> share<br> amount** | &nbsp;&nbsp;&nbsp;**Value as a<br> percentage of<br> net assets** | &nbsp;&nbsp;&nbsp;**Ending<br> value** |
| **Mid Cap Growth Trust** |  |  |  |  |  |  |  |  |
| Essence Group Holdings Corp. | &nbsp;&nbsp;&nbsp;5-1-14 | &nbsp;&nbsp;&nbsp;$2731549 | &nbsp;&nbsp;&nbsp;1663188 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1663188 | &nbsp;&nbsp;&nbsp;0.3% | &nbsp;&nbsp;&nbsp;&nbsp;$2029089 |
| Lookout, Inc., Series F | &nbsp;&nbsp;&nbsp;7-31-14 | &nbsp;&nbsp;&nbsp;&nbsp;2338736 | &nbsp;&nbsp;&nbsp;&nbsp;211003 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;211003 | &nbsp;&nbsp;&nbsp;0.2% | &nbsp;&nbsp;&nbsp;&nbsp;1344089 |
|  |  |  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;**$3373178** |

---

14. Transactions in securities of affiliated issuers

Affiliated issuers, as defined by the 1940 Act, are those in which the portfolios' holdings of an issuer represent 5% or more of the outstanding voting securities of the issuer. A summary of the portfolios' transactions in the securities of these issuers during the six months ended June 30, 2025, is set forth below:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  |  |  | **Dividends and distributions** | **Dividends and distributions** |  |
| **Affiliate** | **Ending<br> share<br> amount** | **Beginning<br> value** | **Cost of<br> purchases** | **Proceeds<br> from shares<br> sold** | **Realized<br> gain<br> (loss)** | **Change in<br> unrealized<br> appreciation<br> (depreciation)** | **Income<br> distributions<br> received** | **Capital gain<br> distributions<br> received** | **Ending<br> value** |
| **American International Trust** | **American International Trust** | **American International Trust** | **American International Trust** | **American International Trust** | **American International Trust** | **American International Trust** | **American International Trust** | **American International Trust** | **American International Trust** |
| American International Fund - Class 1 | 18493352 | $349028504 | $3941709 | $(24042813) | $(4042098) | $44981742 | $236692 |  | $369867044 |

---

15. Segment reporting

The management committee of the Advisor acts as the portfolios' chief operating decision maker (the CODM), assessing performance and making decisions about resource allocation. Each portfolio represents a single operating segment, as the CODM monitors and assesses the operating results of the portfolio as a whole, and the portfolio's long-term strategic asset allocation is managed in accordance with the terms of its prospectus, based on a defined investment strategy which is executed by the portfolio management team of the portfolio's subadvisor. Segment assets are reflected in the Statements of assets and liabilities as "Total assets", which consists primarily of total investments at value. The financial information, including the measurement of profit and loss and significant expenses, provided to and reviewed by the CODM is consistent with that presented within the Statements of operations, which includes "Increase (decrease) in net assets from operations", Statements of changes in net assets, which includes "Increase (decrease) in net assets from portfolio share transactions", and Financial highlights, which includes total return and income and expense ratios.

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## John Hancock Variable Insurance Trust

#### Special shareholder meeting (unaudited)

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Small Cap Core Trust (formerly Small Cap Value Trust) held a Special Meeting of Shareholders on April 10, 2025. The following proposal was considered by the shareholders:

**Proposal: To approve a new subadvisory agreement between John Hancock Variable Trust Advisers LLC and Manulife Investment Management (US) LLC with respect to Small Cap Core Trust.**

THE PROPOSAL <u>PASSED</u> ON April 10, 2025.

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Shares<br> voted** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**% Of<br> shares voted** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**% Of<br> outstanding<br> shares** |
| **For** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31860136.254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.049% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.048% |
| **Against** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230667.776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.717% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.717% |
| **Abstain** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75461.904 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.234% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.234% |

---

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[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Evaluation of Advisory and Subadvisory Agreements by the Board of Trustees

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This section describes the evaluation by the Board of Trustees (the Board) of John Hancock Variable Insurance Trust (the Trust) of the Advisory Agreement (the Advisory Agreement) and each Subadvisory Agreement and Sub-Subadvisory Agreement (collectively, the Subadvisory Agreements) with respect to each of the portfolios of the Trust included in this report except those otherwise noted below (the Funds). The Advisory and Subadvisory Agreements are collectively referred to as the Agreements. Prior to the June 23 - 26, 2025 meeting at which the Agreements were approved, the Board also discussed and considered information regarding the proposed continuation of the Agreements at a meeting held on May 27 - 29, 2025. The Board also receives information relating to the proposed continuation of the Agreements noted above throughout the year on an on-going basis. The Trustees who are not "interested persons" of the Trust as defined by the Investment Company Act of 1940, as amended (the "1940 Act") (the "Independent Trustees") also met separately to evaluate and discuss the information presented, including with counsel to the Independent Trustees and a third-party consulting firm.

The following Funds are feeder funds, which invest all of their assets in master funds: American Asset Allocation Trust, American Global Growth Trust, American Growth Trust, American Growth-Income Trust and American International Trust. These Funds do not pay an advisory fee at the Fund level and do not have advisory agreements.

#### Approval of Advisory and Subadvisory Agreements
At meetings held on June 23 - 26, 2025, the Board, including the Independent Trustees, reapproved for an annual period, the continuation of the Advisory Agreement between the Trust and the Advisor and the applicable Subadvisory Agreements between the Advisor and the sub-advisors (and sub-subadvisors) (each, a Subadvisor and collectively, the Subadvisors) with respect to each of the Funds in this report, except as noted above.

In considering the Advisory Agreement and the Subadvisory Agreements with respect to each Fund, the Board received in advance of the meetings a variety of materials relating to each Fund, the Advisor and each Subadvisor, including comparative performance, fee and expense information for peer groups of similar funds prepared by an independent third-party provider of fund data; performance information for the Funds' benchmark indices; and, with respect to each Subadvisor, comparative performance information for comparably managed accounts, as applicable; and other information provided by the Advisor and the Subadvisors regarding the nature, extent and quality of services provided by the Advisor and the Subadvisors under their respective Agreements, as well as information regarding the Advisor's revenues and costs of providing services to the Funds and any compensation paid to affiliates of the Advisor. At the meetings at which the renewal of the Advisory Agreement and Subadvisory Agreements are considered, particular focus is given to information concerning Fund performance, comparability of fees and total expenses, and profitability. However, the Board noted that the evaluation process with respect to the Advisor and the Subadvisors is an ongoing one. In this regard, the Board also took into account discussions with management and information provided to the Board (including its various committees) at prior meetings with respect to the services provided by the Advisor and the Subadvisors to the Funds, including quarterly performance reports prepared by management containing reviews of investment results, and periodic presentations from the Subadvisors with respect to the Funds they manage. The information received and considered by the Board both in conjunction with the May and June meetings and throughout the year was both written and oral. The Board noted the affiliation of certain of the Subadvisors with the Advisor, noting any potential conflicts of interest. The Board also considered the nature, quality, and extent of the non-advisory services, if any, to be provided to the Funds by the Advisor's affiliates, including distribution services. The Board considered the Advisory Agreement and the Subadvisory Agreements separately in the course of its review. In doing so, the Board noted the respective roles of the Advisor and the Subadvisors in providing services to the Funds. In addition, although the Board approved the renewal of the Agreements for all of the Funds at the June meeting, the Board considered each Fund separately.

Throughout the process, the Board asked questions of and requested additional information from management. The Board is assisted by counsel for the Trust and the Independent Trustees are also separately assisted by independent legal counsel throughout the process. The Independent Trustees also received a memorandum from their independent counsel discussing the legal standards for their consideration of the proposed continuation of the Agreements and discussed the proposed continuation of the Agreements in private sessions with their independent legal counsel at which no representatives of management were present.

#### Approval of Advisory Agreement
In approving the Advisory Agreement with respect to each Fund, the Board, including the Independent Trustees, considered a variety of factors, including those discussed below. The Board also considered other factors (including conditions and trends prevailing generally in the economy, the securities markets and the industry) and did not treat any single factor as determinative, and each Trustee may have attributed different weights to different factors. The Board's conclusions may be based in part on its consideration of the advisory and subadvisory arrangements in prior years and on the Board's ongoing regular review of Fund performance and operations throughout the year.

*<u>Nature, extent, and quality of services.</u> Among the information received by the Board from the Advisor relating to the nature, extent, and quality of services provided to the Funds, the Board reviewed information provided by the Advisor relating to its operations and personnel, descriptions of its organizational and management structure, and information regarding the Advisor's compliance and regulatory history, including its Form ADV. The Board also noted that on a regular basis it receives and reviews information from the Trust's Chief Compliance Officer (CCO) regarding the Funds' compliance policies and procedures established pursuant to Rule 38a-1 under the 1940 Act. The Board observed that the scope of services provided by the Advisor, and of the undertakings required of the Advisor in connection with those services, including maintaining and monitoring its own and the Fund's compliance programs, risk management programs, liquidity risk management programs, derivatives risk management programs, and cybersecurity programs, had expanded over time as a result of regulatory, market and other developments. The Board considered that the Advisor is responsible for the management of the day-to-day operations of the Funds, including but not limited to, general supervision of and coordination of the services provided by the Subadvisors, and is also responsible for monitoring and reviewing the activities of the Subadvisors and other third-party service providers. The Board also considered the significant risks assumed by the Advisor in connection with the services provided to the Funds including entrepreneurial risk in sponsoring new Funds and ongoing risks including investment, operational, enterprise, litigation, regulatory and compliance risks with respect to all Funds.*

In considering the nature, extent, and quality of the services provided by the Advisor, the Trustees also took into account their knowledge of the Advisor's management and the quality of the performance of the Advisor's duties, through Board meetings, discussions and reports during the preceding year and through each Trustee's experience as a Trustee of the Trust and of the other trusts in the complex.

In the course of their deliberations regarding the Advisory Agreement, the Board considered, among other things:

(a) the skills and competency with which the Advisor has in the past managed the Trust's affairs and its subadvisory relationships, the Advisor's oversight and monitoring of the Subadvisors' investment performance and compliance programs, such as the Subadvisors' compliance with fund policies and objectives, review of brokerage matters including with respect to trade allocation and best execution, and the Advisor's timeliness in responding to performance issues;

(b) the background, qualifications and skills of the Advisor's personnel;

(c) the Advisor's compliance policies and procedures and its responsiveness to regulatory changes and fund industry developments;

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## John Hancock Variable Insurance Trust

#### Evaluation of Advisory and Subadvisory Agreements by the Board of Trustees

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(d) the Advisor's administrative capabilities, including its ability to supervise the other service providers for the Funds, as well as the Advisor's oversight of any securities lending activity, its monitoring of class action litigation and collection of class action settlements on behalf of the Funds, and bringing loss recovery actions on behalf of the Funds;

(e) the financial condition of the Advisor and whether it has the financial wherewithal to provide a high level and quality of services to the Funds;

(f) the Advisor's initiatives intended to improve various aspects of the Trust's operations and investor experience with the Funds; and

(g) the Advisor's reputation and experience in serving as an investment advisor to the Trust and the benefit to contract holders of investing in funds that are part of a family of variable insurance portfolios offering a variety of investments.

The Board concluded that the Advisor may reasonably be expected to continue to provide a high quality of services under the Advisory Agreement with respect to the Funds.

*<u>Investment performance</u>. In considering each Fund's performance, the Board noted that it reviews at its regularly scheduled meetings information about the Funds' performance results. In connection with the consideration of the Advisory Agreement, the Board:*

(a) reviewed information prepared by management regarding the Funds' performance;

(b) considered the comparative performance of each Fund's respective benchmark;

(c) considered the performance of comparable funds, if any, as included in the report prepared by an independent third-party provider of fund data; and

(d) took into account the Advisor's analysis of each Fund's performance and its plans and recommendations regarding the Trust's subadvisory arrangements generally and with respect to particular Funds.

The Board noted that while it found the data provided by the independent third-party generally useful it recognized its limitations, including in particular that the data may vary depending on the end date selected and that the results of the performance comparisons may vary depending on the selection of the peer group. The Board concluded that the performance of each of the Funds has generally been in line with or generally outperformed the historical performance of comparable funds based on the median percentile and/or the Fund's respective benchmark, with certain exceptions noted in Appendix A. In such cases, the Board considered steps the Advisor had taken or plans to take to address performance and concluded that such performance is being monitored and reasonably being addressed.

*<u>Fees and expenses.</u> The Board reviewed comparative information prepared by an independent third-party provider of fund data including, among other data, each Fund's contractual and net management fees (and subadvisory fees, to the extent available) and total expenses as compared to similarly situated investment companies deemed to be comparable to the Fund in light of the nature, extent and quality of the management and subadvisory services provided by the Advisor and the Subadvisors. The Board considered each Fund's ranking within a smaller group of peer funds chosen by the independent third-party provider, as well as the Fund's ranking within broader groups of funds. In comparing each Fund's contractual and net management fees to that of comparable funds, the Board noted that such fee includes both advisory and administrative costs.*

The Board took into account management's discussion with respect to the overall management fee, the fees of each Subadvisor, including the amount of the advisory fee retained by the Advisor after payment of the subadvisory fees, in each case in light of the services rendered for those amounts and the risks undertaken by the Advisor. The Board also noted that, in addition, the Advisor is currently waiving fees and/or reimbursing expenses with respect to certain of the Funds. The Board also noted that the Advisor pays the subadvisory fees of

the Funds, and that such fees are negotiated at arm's length with respect to unaffiliated Subadvisors. In addition, the Board noted that the Advisor continued advisory and subadvisory fee reductions in the past year with respect to several Funds. The Board also took into account that management had agreed to implement an overall fee waiver across the complex, which is discussed further below. The Board also noted management's discussion of the Funds' expenses, as well as certain actions taken over the past several years to reduce the Funds' operating expenses. The Board reviewed information provided by the Advisor concerning investment advisory fees charged to other clients (including other funds in the complex) having similar investment mandates, if any. The Board considered any differences between the Advisor's and Subadvisor's services to a Fund and the services they provide to other such comparable clients or funds. The Board concluded that the advisory fee paid with respect to each of the Funds is reasonable in light of the nature, extent and quality of the services provided to the Funds under the Advisory Agreement.

In addition, in the case of each Lifestyle Portfolio (each a Fund of Funds), the Trustees reviewed the advisory fee to be paid to the Advisor for each Fund of Funds and noted that the Advisor has evaluated the complexity of the structure and fees and expenses associated with the Funds of Funds' investments in the underlying portfolios, and made a finding that the Funds of Funds' expenses do not duplicate the fees and expenses of the underlying portfolios.

*<u>Profitability/Fall out benefits</u>. In considering the costs of the services to be provided and the profits to be realized by the Advisor and its affiliates (including the Subadvisors that are affiliated with the Advisor) from the Advisor's relationship with the Trust, the Board:*

(a) reviewed financial information of the Advisor;

(b) reviewed and considered (i) information presented by the Advisor regarding the net profitability to the Advisor and its affiliates, of each Fund; and (ii) the representation by the John Hancock insurance companies in registration statements for registered variable insurance contracts using the Funds as investment options in registered separate accounts, that the fees and charges deducted under their variable insurance contracts (including the fees and expenses of the Trust), in the aggregate, are reasonable in relation to the services rendered, the expenses expected to be incurred and the risks assumed by such companies;

(c) received and reviewed profitability information with respect to the John Hancock fund complex as a whole and with respect to each Fund;

(d) received information with respect to the Advisor's allocation methodologies used in preparing the profitability data and considered that the Advisor hired an independent third-party consultant to provide an analysis of the Advisor's allocation methodologies;

(e) considered fall out benefits to the Advisor, including (but not limited to), benefits to affiliates, such as that the John Hancock insurance companies that are affiliates of the Advisor, as shareholders of the Trust directly or through their separate accounts, receive certain tax credits or deductions relating to foreign taxes paid and dividends received by certain Funds of the Trust and noted that these tax benefits, which are not available to contract holders under applicable income tax law, are reflected in the profitability analysis reviewed by the Board;

(f) considered that the Advisor also provides administrative services to the Funds on a cost basis pursuant to an administrative services agreement;

(g) noted that certain of the Funds' Subadvisors are affiliates of the Advisor;

(h) noted that affiliates of the Advisor provide distribution services to the Funds, and that the Trust's distributor also receives Rule 12b-1 payments to support distribution of the products;

(i) noted that the Advisor also derives reputational and other indirect benefits from providing advisory services to the Funds;

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[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Evaluation of Advisory and Subadvisory Agreements by the Board of Trustees

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(j) noted that the subadvisory fees for the Funds are paid by the Advisor and are negotiated at arm's length with respect to the unaffiliated Subadvisors;

(k) with respect to each Fund of Funds, the Board noted that the advisory fee is in addition to the fees received by the Advisor and its affiliates with regard to the underlying portfolios in which the Funds may invest;

(l) considered the Advisor's ongoing costs and expenditures necessary to improve services, meet new regulatory and compliance requirements, and adapt to other challenges impacting the fund industry; and

(m) considered that the Advisor should be entitled to earn a reasonable level of profits in exchange for the level of services it provides to each Fund and the risks that it assumes as Advisor, including entrepreneurial, operational, reputational, litigation and regulatory risk.

Based upon its review, the Board concluded that the level of profitability, if any, of the Advisor and its affiliates (including any Subadvisors that are affiliated with the Advisor), from their relationship with each Fund was reasonable and not excessive.

*<u>Economies of scale.</u> In considering the extent to which economies of scale would be realized as a Fund grows and whether fee levels reflect these economies of scale for the benefit of Fund shareholders, the Board:*

(a) with respect to each Fund (except those discussed specifically below), considered that the Advisor has agreed to waive a portion of its management fee for such Fund and for each of the other John Hancock funds in the complex (except as discussed below) (the Participating Portfolios) or otherwise reimburse the expenses of the Participating Portfolios (the Reimbursement). This waiver is based on the aggregate net assets of all the Participating Portfolios. The Board also noted that the Advisor had implemented additional breakpoints to the complex-wide fee waiver in recent years;

(The Funds that are not Participating Portfolios as of the date of this annual report are each of the funds of funds of the Trust and John Hancock Funds II and John Hancock Collateral Trust. These funds of funds also benefit from such overall management fee waiver through their investment in underlying portfolios that include certain of the Participating Portfolios, which are subject to the Reimbursement.)

(b) reviewed the Trust's advisory fee structure and the incorporation therein of any subadvisory fee breakpoints in the advisory fees charged and concluded that (i) most of the Funds' fee structures contain breakpoints at the subadvisory fee level and that such breakpoints are reflected as breakpoints in the advisory fees for Funds and (ii) although economies of scale cannot be measured with precision, these arrangements permit shareholders of Funds with advisory fee breakpoints to benefit from economies of scale if those Funds grow. The Board also took into account management's discussion of the Funds' advisory fee structure, including with respect to those Funds that did not currently have breakpoints; and

(c) the Board also considered the effect of the Funds' growth in size on their performance and fees. The Board also noted that if the Funds' assets increase over time, the Funds may realize other economies of scale.

#### Approval of Subadvisory Agreements
In making its determination with respect to approval of the Subadvisory Agreements, the Board reviewed:

(1) information relating to the Subadvisor's business, including current subadvisory services to the Trust (and other funds in the John Hancock group of funds);

(2) the historical and current performance of the Fund and comparative performance information relating to the Fund's benchmark and comparable funds based on the median percentile;

(3) the subadvisory fee for each Fund, including any breakpoints, and comparative fee information, where available, prepared by an independent third-party provider of fund data; and

(4) information relating to the nature and scope of any material relationships and their significance to the Trust's Advisor and Subadvisors.

*<u>Nature, extent, and quality of services</u>. With respect to the services provided by each of the Subadvisors with respect to each Fund, the Board received information provided to the Board by each Subadvisor, including each Subadvisor's Form ADV, as well as took into account information presented throughout the past year. The Board considered each Subadvisor's current level of staffing and its overall resources, as well as received information relating to a Subadvisor's compensation program. The Board reviewed each Subadvisor's history and investment experience, as well as information regarding the qualifications, background and responsibilities of the Subadvisor's investment and compliance personnel who provide services to the Funds. The Board also considered, among other things, the Subadvisor's compliance program and any disciplinary history. The Board also considered the Subadvisor's risk assessment and monitoring process. The Board reviewed each Subadvisor's regulatory history, including whether it was currently involved in any regulatory actions or investigations as well as material litigation, and any settlements and amelioratory actions undertaken, as appropriate. The Board noted that the Advisor conducts regular, periodic reviews of each Subadvisor and its operations, including regarding investment processes and organizational and staffing matters. The Board also noted that the CCO and his staff conduct regular, periodic compliance reviews with each of the Subadvisors and present reports to the Independent Trustees regarding the same, which includes evaluating the regulatory compliance systems of the Subadvisors and procedures reasonably designed by them to assure compliance with the federal securities laws. The Board also took into account the financial condition of each Subadvisor.*

The Board considered each Subadvisor's investment process and philosophy. The Board took into account that each Subadvisor's responsibilities include the development and maintenance of an investment program for the applicable Fund which is consistent with the Fund's investment objectives, the selection of investment securities and the placement of orders for the purchase and sale of such securities, as well as the implementation of compliance controls related to performance of these services. The Board also received information with respect to each Subadvisor's brokerage policies and practices, including with respect to best execution and soft dollars.

*<u>Subadvisor compensation</u>. In considering the cost of services to be provided by each Subadvisor and the profitability to that Subadvisor of its relationship with the Fund, the Board noted that the fees under the Subadvisory Agreements are paid by the Advisor and not the Funds. The Board also relied on the ability of the Advisor to negotiate each Subadvisory Agreement with Subadvisors that are not affiliated with the Advisor and the fees thereunder at arm's length. As a result, the costs of the services to be provided and the profits to be realized by unaffiliated Subadvisors from their relationship with the Trust were not a material factor in the Board's consideration of the Subadvisory Agreements.*

The Board also received information regarding the nature and scope (including their significance to the Advisor and its affiliates and to unaffiliated Subadvisors) of any material relationships with respect to the unaffiliated Subadvisors, which include arrangements in which unaffiliated Subadvisors or their affiliates provide advisory, distribution or management services in connection with financial products sponsored by the Trust's Advisor or its affiliates, and may include shares of the Trust, other registered investment companies, a 529 education savings plan, managed separate accounts and exempt group annuity contracts sold to qualified plans. The Board also received information and took into account any other potential conflicts of interests the Advisor might have in connection with the Subadvisory Agreements.

In addition, the Board considered other potential indirect benefits that the Subadvisors and their affiliates may receive from the Subadvisor's relationship with the Fund, such as the opportunity to provide advisory services to additional portfolios of the Trusts and reputational benefits.

*<u>Subadvisory fees</u>. The Board considered that the Fund pays an advisory fee to the Advisor and that, in turn, the Advisor pays a subadvisory fee to each*

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[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Evaluation of Advisory and Subadvisory Agreements by the Board of Trustees

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Subadvisor. As noted above, the Board also considered, if available, each Fund's sub-advisory fees as compared to similarly situated investment companies deemed to be comparable to the Fund as included in the report prepared by the independent third party provider of fund data. The Board also took into account the sub-advisory fees paid by the Advisor to fees charged by each Fund's Subadvisor to manage other sub-advised portfolios and portfolios not subject to regulation under the 1940 Act, as applicable.

*<u>Subadvisor performance</u>. As noted above, the Board considered each Fund's performance as compared to the Fund's respective peer group based on the median percentile and benchmark and noted that the Board reviews information about the Fund's performance results at its regularly scheduled meetings. The Board noted the Advisor's expertise and resources in monitoring the performance, investment style, and risk-adjusted performance of each Subadvisor. The Board was mindful of the Advisor's focus on each Subadvisor's performance. The Board also noted each Subadvisor's long-term performance record for similar accounts, as applicable.*

The Board's decision to approve the Subadvisory Agreement with respect to each Fund was based on a number of determinations, including the following:

(1) Each Subadvisor has extensive experience and demonstrated skills as a manager;

(2) Although not without variation, the performance of each Fund managed by a Subadvisor generally has been in line with or outperformed the historical performance of comparable funds and
the Fund's respective benchmarks based on the median percentile, with the exceptions noted in Appendix A (with respect to such exceptions, the Board considered the steps the Subadvisor had taken or plans to take
to address performance and concluded that performance is being monitored and reasonably being addressed);

(3) The subadvisory fees are reasonable in relation to the level and quality of services being provided under the Subadvisory Agreement; and

(4) With respect to those Funds that have subadvisory fees that contain breakpoints, certain breakpoints are reflected as breakpoints in the advisory fees for the Funds in order to permit
shareholders to benefit from economies of scale if those Funds grow.

In addition, in the case of each Fund of Funds, the Trustees reviewed the subadvisory fee to be paid to the Subadvisor for the Fund of Funds and noted that the Advisor has evaluated the complexity of the structure and fees and expenses associated with the Funds of Funds' investments in the underlying portfolios, and made a finding that the Funds of Funds' expenses do not duplicate the fees and expenses of the underlying portfolios.

*Additional information relating to each Fund's fees and expenses and performance that the Board considered in approving the Advisory Agreement and Subadvisory Agreement for a particular Fund is set forth in Appendix A.*

\*\*\*

Based on their evaluation of all factors that they deemed to be material, including those factors described above, the Board, including the Independent Trustees, concluded that renewal of the Advisory Agreement and each of the Subadvisory Agreements with respect to each Fund would be in the best interest of each of the respective Funds and its shareholders. Accordingly, the Board, and the Independent Trustees voting separately, approved the Advisory Agreement and Subadvisory Agreement with respect to each Fund for an additional one-year period.

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[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Appendix A

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| | | | |
|:---|:---|:---|:---|
| **Portfolio (Subadvisor)** | &nbsp;&nbsp;&nbsp;**Performance as of 12/31/2024** | &nbsp;&nbsp;&nbsp;**Fees and Expenses** | &nbsp;&nbsp;&nbsp;**Comments** |
| 500 Index Trust<br>(Manulife Investment Management (US) LLC) | &nbsp;&nbsp;Benchmark Index – The Trust underperformed the benchmark index for the one-, three-, five- and ten-year periods.<br>Broadridge Category – The Trust outperformed the peer group median for the one-, three-, five- and ten-year periods. | &nbsp;&nbsp;The subadvisor fees for this Trust are equal to the peer group median.<br>Net management fees for this Trust are higher than the peer group median.<br>Net total expenses for this Trust are lower than the peer group median.  | &nbsp;&nbsp;The Board took into account management's discussion of the Trust's performance relative to the benchmark index for the one-, three-, five- and ten-year periods.<br>The Board noted the Trust's favorable performance relative to the peer group median for the one-, three, five- and ten-year periods.<br>The Board also noted the Trust's low performance dispersion relative to its benchmark index. <br>The Board took into account management's discussion of the Trust's expenses. The Board noted the Trust's net total expenses are lower than the peer group median.  |
| Blue Chip Growth Trust<br>(T. Rowe Price Associates, Inc.) | &nbsp;&nbsp;Benchmark Index – The Trust outperformed the benchmark index for the one-year period and underperformed the benchmark index for the three-, five- and ten-year period.<br>Broadridge Category – The Trust outperformed the peer group median for the one-, three- and ten-year periods and underperformed the peer group median for the five-year period. | &nbsp;&nbsp;The subadvisor fees for this Trust are higher than the peer group median.<br>Net management fees for this Trust are higher than the peer group median.<br>Net total expenses for this Trust are lower than the peer group median. | &nbsp;&nbsp;The Board took into account management's discussion of the factors that contributed to the Trust's performance relative to the benchmark index for the three-, five- and ten-year periods and to the peer group median for the five-year period.<br>The Board noted the Trust's favorable performance relative to the benchmark index for the one-year period and to the peer group median for the one-, three- and ten-year periods.<br>The Board took into account management's discussion of the Trust's expenses. The Board noted the Trust's net total expenses are lower than the peer group median. |
| Capital Appreciation Value Trust<br>(T. Rowe Price Associates, Inc.) | &nbsp;&nbsp;Benchmark Index – The Trust underperformed for the one-year period and outperformed the benchmark index for the three-, five- and ten-year periods.<br>Broadridge Category – The Trust outperformed the peer group median for the one-, three-, five- and ten-year periods. | &nbsp;&nbsp;The subadvisor fees for this Trust are higher than the peer group median.<br>Net management fees for this Trust are higher than the peer group median.<br>Net total expenses for this Trust are higher than the peer group median. | &nbsp;&nbsp;The Board noted the Trust's favorable performance relative to the benchmark index for the three-, five- and ten-year periods and to the peer group median for the one-, three-, five- and ten-year periods.<br>The Board took into account management's discussion of the Trust's expenses. |

---

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[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Appendix A

------

---

| | | | |
|:---|:---|:---|:---|
| **Portfolio (Subadvisor)** | &nbsp;&nbsp;&nbsp;**Performance as of 12/31/2024** | &nbsp;&nbsp;&nbsp;**Fees and Expenses** | &nbsp;&nbsp;&nbsp;**Comments** |
| Disciplined Value Emerging Markets Equity Trust (formerly Emerging Markets Value Trust)<br>(Boston Partners Global Investors, Inc.) | &nbsp;&nbsp;Benchmark Index – The Trust underperformed the benchmark index for the one- and ten-year periods and outperformed the benchmark index for the three- and five-year periods.<br>Broadridge Category – The Trust underperformed the peer group median for the one- and ten-year periods and outperformed the peer group median for the three- and five-year periods. | &nbsp;&nbsp;The subadvisor fees for this Trust are lower than the peer group median.<br>Net management fees for this Trust are lower than the peer group median.<br>Net total expenses for this Trust are lower than the peer group median. | &nbsp;&nbsp;The Board took into account management's discussion of the Trust's performance relative to the benchmark index and to the peer group median for the one- and ten-year periods, including that the Trust's performance prior to May 30, 2024, represents that of the prior subadvisor.<br>The Board noted the Trust's favorable performance relative to the benchmark index and to the peer group median for the three- and five-year periods.<br>The Board noted the Trust's net management fees and net total expenses are lower than the peer group median. |
| Disciplined Value International Trust<br>(Boston Partners Global Investors, Inc.) | &nbsp;&nbsp;Benchmark Index – The Trust underperformed the benchmark index for the one- and ten-year periods and outperformed the benchmark index for the three- and five-year periods.<br>Broadridge Category – The Trust underperformed the peer group median for the one-year period and outperformed the peer group median for the three-, five- and ten-year periods. | &nbsp;&nbsp;Subadvisor fee comparative data not provided due to limited size of Broadridge peer group for this purpose.<br>Net management fees for this Trust are lower than the peer group median.<br>Net total expenses for this Trust are lower than the peer group median. | &nbsp;&nbsp;The Board took into account management's discussion of the Trust's performance relative to the benchmark index for the one- and ten-year periods and to the peer group median for the one-year periods.<br>The Board noted the Trust's favorable performance relative to the benchmark index for the three- and five-year periods and to the peer group median for the three-, five- and ten-year periods.<br>The Board noted the Trust's net management fees and net total expenses are lower than the peer group median. |

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[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Appendix A

------

---

| | | | |
|:---|:---|:---|:---|
| **Portfolio (Subadvisor)** | &nbsp;&nbsp;&nbsp;**Performance as of 12/31/2024** | &nbsp;&nbsp;&nbsp;**Fees and Expenses** | &nbsp;&nbsp;&nbsp;**Comments** |
| Equity Income Trust<br>(T. Rowe Price Associates, Inc.) | &nbsp;&nbsp;Benchmark Index – The Trust underperformed the benchmark index for the one-, five- and ten-year periods and outperformed the benchmark index for the three-year period.<br>Broadridge Category – The Trust underperformed the peer group median for the one-, three-, five- and ten-year periods. | &nbsp;&nbsp;The subadvisor fees for this Trust are higher than the peer group median.<br>Net management fees for this Trust are higher than the peer group median.<br>Net total expenses for this Trust are lower than the peer group median. | &nbsp;&nbsp;The Board took into account management's discussion of the factors that contributed to the Trust's performance relative to the benchmark index for the one-, five- and ten-year periods and to the peer group median for the one-, three-, five- and ten year periods including the impact of past and current market conditions on the Trust's strategy and management's plans for the Trust.<br>The Board noted the Trust's favorable performance relative to the benchmark index for the three-year period.<br>The Board noted that the Trust outperformed its Morningstar peer group and benchmark Index for the year-to-date period ended May 31, 2025.<br>The Board took into account management's discussion of the Trust's expenses. The Board noted the Trust's net total expenses are lower than the peer group median. |
| Financial Industries Trust<br>(Manulife Investment Management (US) LLC) | &nbsp;&nbsp;Benchmark Index – The Trust underperformed the benchmark index for the one-, three-, five- and ten-year periods.<br>Broadridge Category – The Trust outperformance the peer group median for the one-year period and underperformed the peer group median for the three-, five- and ten-year periods. | &nbsp;&nbsp;Subadvisor fee comparative data not provided due to limited size of Broadridge peer group for this purpose.<br>Net management fees for this Trust are higher than the peer group median.<br>Net total expenses for this Trust are higher than the peer group median. | &nbsp;&nbsp;The Board took into account management's discussion of the factors that contributed to the Trust's performance relative to the benchmark index for the one-, three-, five- and ten-year periods and to the peer group median for the three-, five- and ten year periods including the impact of past and current market conditions on the Trust's strategy and management's plans for the Trust.<br>The Board noted the Trust's favorable performance relative to the benchmark index for the one-year period.<br>The Board noted that the Trust outperformed its Morningstar peer group and benchmark Index for the year-to-date period ended May 31, 2025.<br>The Board took into account management's discussion of the Trust's expenses. |

---

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[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Appendix A

------

---

| | | | |
|:---|:---|:---|:---|
| **Portfolio (Subadvisor)** | &nbsp;&nbsp;&nbsp;**Performance as of 12/31/2024** | &nbsp;&nbsp;&nbsp;**Fees and Expenses** | &nbsp;&nbsp;&nbsp;**Comments** |
| Fundamental All Cap Core Trust<br>(Manulife Investment Management (US) LLC) | &nbsp;&nbsp;Benchmark Index – The Trust outperformed the benchmark index for the one-, three-, five- and ten-year periods.<br>Broadridge Category – The Trust underperformed the peer group median for the one- and ten-year periods and outperformed the peer group median for the three- and five-year periods. | &nbsp;&nbsp;The subadvisor fees for this Trust are equal to the peer group median.<br>Net management fees for this Trust are higher than the peer group median.<br>Net total expenses for this Trust are lower than the peer group median. | &nbsp;&nbsp;The Board took into account management's discussion of the Trust's performance relative to the peer group median for the one- and ten-year periods.<br>The Board noted the Trust's favorable performance relative to the benchmark index for the one-, three-, five- and ten-year periods and to the peer group median for the three- and five-year periods.<br>The Board took into account management's discussion of the Trust's expenses. The Board noted the Trust's net total expenses are lower than the peer group median. |
| Fundamental Large Cap Value Trust<br>(Manulife Investment Management (US) LLC) | &nbsp;&nbsp;Benchmark Index – The Trust outperformed the benchmark index for the one-, three-, five- and ten-year periods.<br>Broadridge Category – The Trust outperformed the peer group median for the one-, three-, five- and ten-year periods. | &nbsp;&nbsp;Subadvisor fee comparative data not provided due to limited size of Broadridge peer group for this purpose.<br>Net management fees for this Trust are higher than the peer group median.<br>Net total expenses for this Trust are lower than the peer group median. | &nbsp;&nbsp;The Board noted the Trust's favorable performance relative to the benchmark index and to the peer group median for the one-, three-, five- and ten-year periods.<br>The Board took into account management's discussion of the Trust's expenses. The Board noted the Trust's net total expenses are lower than the peer group median. |
| Global Equity Trust<br>(Manulife Investment Management (US) LLC) | &nbsp;&nbsp;Benchmark Index – The Trust underperformed the benchmark index for the one-, three-, five- and ten-year periods.<br>Broadridge Category – The performed in-line with the peer group median for the one-year period, underperformed the peer group median for the three- and ten-year periods, and outperformed the peer group median for the five-year period. | &nbsp;&nbsp;Subadvisor fee comparative data not provided due to limited size of Broadridge peer group for this purpose.<br>Net management fees for this Trust are higher than the peer group median.<br>Net total expenses for this Trust are lower than the peer group median. | &nbsp;&nbsp;The Board took into account management's discussion of the factors that contributed to the Trust's performance relative to the benchmark index for the one-, three-, five- and ten-year periods and to the peer group median for the three- and ten-year periods, including the impact of past and current market conditions on the Trust's strategy and management's outlook for the Trust.<br>The Board noted the Trust's favorable performance relative to the peer group median for the one- and five-year periods.<br>The Board noted that the Trust outperformed its benchmark Index for the year-to-date period ended May 31, 2025.<br>The Board took into account management's discussion of the Trust's expenses. The Board noted the Trust's net total expenses are lower than the peer group median. |

---

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[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Appendix A

------

---

| | | | |
|:---|:---|:---|:---|
| **Portfolio (Subadvisor)** | &nbsp;&nbsp;&nbsp;**Performance as of 12/31/2024** | &nbsp;&nbsp;&nbsp;**Fees and Expenses** | &nbsp;&nbsp;&nbsp;**Comments** |
| Health Sciences Trust<br>(T. Rowe Price Associates, Inc.) | &nbsp;&nbsp;Benchmark Index – The Trust outperformed the benchmark index for the one-, five- and ten-year periods and underperformed the benchmark index for the three-year period.<br>Broadridge Category – The Trust outperformed the peer group median for the one- and ten-year periods and underperformed the peer group median for the three- and five-year periods. | &nbsp;&nbsp;Subadvisor fee comparative data not provided due to limited size of Broadridge peer group for this purpose.<br>Net management fees for this Trust are equal to the peer group median.<br>Net total expenses for this Trust are lower than the peer group median. | &nbsp;&nbsp;The Board took into account management's discussion of the Trust's performance relative to the benchmark index for the three-year period and to the peer group median for the three- and five-year periods.<br>The Board noted the Trust's favorable performance relative to the benchmark index for the one-, five- and ten-year periods and to the peer group median for the one- and ten-year periods.<br>The Board noted the Trust's net management fees are equal to the peer group median and the net total expenses are lower than the peer group median. |
| International Equity Index Trust<br>(SSGA Funds Management, Inc.) | &nbsp;&nbsp;Benchmark Index – The Trust underperformed the benchmark index for the one-, three-, five and ten-year periods.<br>Broadridge Category – The Trust outperformed the peer group median for the one-year period and underperformed the peer group median for the three-, five- and ten-year periods. | &nbsp;&nbsp;The subadvisor fees for this Trust are higher than the peer group median.<br>Net management fees for this Trust are lower than the peer group median.<br>Net total expenses for this Trust are lower than the peer group median. | &nbsp;&nbsp;The Board took into account management's discussion of the factors that contributed to the Trust's performance relative to the benchmark index for the one-, three-, five- and ten-year periods and to the peer group median for the three-, five- and ten-year periods including the impact of past and current market conditions on the Trust's strategy and management's plans for the Trust.<br>The Board noted the Trust's favorable performance relative to the peer group median for the one-year period.<br>The Board noted that the Trust outperformed its benchmark Index for the year-to-date period ended May 31, 2025.<br>The Board also noted the Trust's low performance dispersion relative to its benchmark index.<br>The Board noted the Trust's net management fees and net total expenses are lower than the peer group median. |

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[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Appendix A

------

---

| | | | |
|:---|:---|:---|:---|
| **Portfolio (Subadvisor)** | &nbsp;&nbsp;&nbsp;**Performance as of 12/31/2024** | &nbsp;&nbsp;&nbsp;**Fees and Expenses** | &nbsp;&nbsp;&nbsp;**Comments** |
| International Small Company Trust<br>(Dimensional Fund Advisors LP) | &nbsp;&nbsp;Benchmark Index – The Trust outperformed the benchmark index for the one-, three- and five-year periods and underperformed the benchmark index for the ten-year period.<br>Broadridge Category – The Trust underperformed the peer group median for the one-, three-, five- and ten-year periods. | &nbsp;&nbsp;Subadvisor fee comparative data not provided due to limited size of Broadridge peer group for this purpose.<br>Net management fees for this Trust are higher than the peer group median.<br>Net total expenses for this Trust are higher than the peer group median. | &nbsp;&nbsp;The Board took into account management's discussion of the Trust's performance relative to the benchmark index for the ten-year period and to the peer group median for the one-, three-, five- and ten-year periods.<br>The Board noted the Trust's favorable performance relative to the benchmark index for the one-, three- and five-year periods.<br>The Board noted that the Trust outperformed its Morningstar peer group and benchmark Index for the year-to-date period ended May 31, 2025.<br>The Board took into account management's discussion of the Trust's expenses. |
| Lifestyle Balanced Portfolio<br>(Manulife Investment Management (US) LLC) | &nbsp;&nbsp;Benchmark Index – The Trust underperformed the benchmark index for the one-, three-, five- and ten-year periods.<br>Broadridge Category – The Trust outperformed the peer group median for the one-, three-, five- and ten-year periods. | &nbsp;&nbsp;Subadvisor fee comparative data not provided due to limited size of Broadridge peer group for this purpose.<br>Net management fees for this Trust are lower than the peer group median.<br>Net total expenses for this Trust are lower than the peer group median. | &nbsp;&nbsp;The Board took into account management's discussion of the Trust's performance relative to the benchmark index for the one-, three-, five- and ten-year periods.<br>The Board noted the Trust's favorable performance relative to the peer group median for the one-, three-, five- and ten-year periods.<br>The Board noted the Trust's net management fees and net total expenses are lower than the peer group median. |
| Lifestyle Conservative Portfolio<br>(Manulife Investment Management (US) LLC) | &nbsp;&nbsp;Benchmark Index – The Trust underperformed the benchmark index for the one-, three-, five- and ten-year periods.<br>Broadridge Category – The Trust underperformed the peer group median for one-, three-, five- and ten-year periods. | &nbsp;&nbsp;Subadvisor fee comparative data not provided due to limited size of Broadridge peer group for this purpose.<br>Net management fees for this Trust are lower than the peer group median.<br>Net total expenses for this Trust are lower than the peer group median. | &nbsp;&nbsp;The Board took into account management's discussion of the Fund's performance relative to the benchmark index and to the peer group median for the one-, three-, five- and ten-year periods, including the impact of past and current market conditions on the Fund's strategy and management's outlook for the Fund.<br>The Board noted that the Fund outperformed its Morningstar category and benchmark index for the year-to-date period ended May 31, 2025.<br>The Board noted the Trust's net management fees and net total expenses are lower than the peer group median. |

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[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Appendix A

------

---

| | | | |
|:---|:---|:---|:---|
| **Portfolio (Subadvisor)** | &nbsp;&nbsp;&nbsp;**Performance as of 12/31/2024** | &nbsp;&nbsp;&nbsp;**Fees and Expenses** | &nbsp;&nbsp;&nbsp;**Comments** |
| Lifestyle Growth Portfolio<br>(Manulife Investment Management (US) LLC) | &nbsp;&nbsp;Benchmark Index – The Trust underperformed the benchmark index for the one-, three-, five- and ten-year periods.<br>Broadridge Category – The Trust underperformed the peer group median for the one-year period and outperformed the peer group median for the three-, five- and ten-year periods. | &nbsp;&nbsp;Subadvisor fee comparative data not provided due to limited size of Broadridge peer group for this purpose.<br>Net management fees for this Trust are lower than the peer group median.<br>Net total expenses for this Trust are lower than the peer group median. | &nbsp;&nbsp;The Board took into account management's discussion of the Trust's performance relative to the benchmark index for the one-, three-, five- and ten-year periods and to the peer group median for the one-year period.<br>The Board noted the Trust's favorable performance relative to the peer group median for the three-, five- and ten-year periods.<br>The Board noted the Trust's net management fees and net total expenses are lower than the peer group median. |
| Lifestyle Moderate Portfolio<br>(Manulife Investment Management (US) LLC) | &nbsp;&nbsp;Benchmark Index – The Trust underperformed the benchmark index for the one-, three-, five- and ten-year periods.<br>Broadridge Category – The Trust underperformed the peer group median for the one- and three-year periods and outperformed the peer group median for the five- and ten-year periods. | &nbsp;&nbsp;Subadvisor fee comparative data not provided due to limited size of Broadridge peer group for this purpose.<br>Net management fees for this Trust are lower than the peer group median.<br>Net total expenses for this Trust are lower than the peer group median. | &nbsp;&nbsp;The Board took into account management's discussion of the Fund's performance relative to the benchmark index for the one-, three-, five- and ten-year periods and to the peer group median for the one- and three-year periods, including the impact of past and current market conditions on the Fund's strategy and management's outlook for the Fund.<br>The Board noted the Fund's favorable performance relative to the peer group median for the five- and ten-year periods.<br>The Board noted that the Fund outperformed its Morningstar category and benchmark index for the year-to-date period ended May 31, 2025.<br>The Board noted the Trust's net management fees and net total expenses are lower than the peer group median. |

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[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Appendix A

------

---

| | | | |
|:---|:---|:---|:---|
| **Portfolio (Subadvisor)** | &nbsp;&nbsp;&nbsp;**Performance as of 12/31/2024** | &nbsp;&nbsp;&nbsp;**Fees and Expenses** | &nbsp;&nbsp;&nbsp;**Comments** |
| Mid Cap Growth Trust<br>(Wellington Management Company LLP) | &nbsp;&nbsp;Benchmark Index – The Trust outperformed the benchmark index for the one-year period and underperformed the benchmark index for the three-, five- and ten-year periods.<br>Broadridge Category – The Trust outperformed the peer group median for the one-, five- and ten-year periods and underperformed the peer group median for the three-year period. | &nbsp;&nbsp;The subadvisor fees for this Trust are higher than the peer group median.<br>Net management fees for this Trust are higher than the peer group median.<br>Net total expenses for this Trust are lower than the peer group median. | &nbsp;&nbsp;The Board took into account management's discussion of the factors that contributed to the Trust's performance relative to the benchmark index for the three-, five- and ten-year periods and to the peer group median for the three-year period.<br>The Board noted the Trust's favorable performance relative to the benchmark index for the one-year period and to the peer group median for the one-, five- and ten-year periods.<br>The Board took into account management's discussion of the Trust's expenses. The Board noted the Trust's net total expenses are lower than the peer group median. |
| Mid Cap Index Trust<br>(Manulife Investment Management (US) LLC) | &nbsp;&nbsp;Benchmark Index – The Trust underperformed the benchmark index for the one-, three-, five- and ten-year periods.<br>Broadridge Category – The Trust underperformed the peer group median for the one-year period and outperformed the peer group median for the three-, five- and ten-year periods. | &nbsp;&nbsp;The subadvisor fees for this Trust are equal to the peer group median.<br>Net management fees for this Trust are higher than the peer group median.<br>Net total expenses for this Trust are lower than the peer group median. | &nbsp;&nbsp;The Board took into account management's discussion of the Trust's performance relative to the benchmark index for the one-, three-, five- and ten-year periods and to the peer group median for the one-year period.<br>The Board noted the Trust's favorable performance relative to the peer group median for the three-, five- and ten-year periods.<br>The Board also noted the Trust's low performance dispersion relative to its benchmark index.<br>The Board took into account management's discussion of the Trust's expenses. The Board noted the Trust's net total expenses are lower than the peer group median. |
| Mid Value Trust<br>(T. Rowe Price Associates, Inc.) | &nbsp;&nbsp;Benchmark Index – The Trust outperformed the benchmark index for the one-, three-, five- and ten-year periods.<br>Broadridge Category – The Trust outperformed the peer group median for the one-, three-, five- and ten-year periods. | &nbsp;&nbsp;The subadvisor fees for this Trust are higher than the peer group median.<br>Net management fees for this Trust are higher than the peer group median.<br>Net total expenses for this Trust are lower than the peer group median. | &nbsp;&nbsp;The Board noted the Trust's favorable performance relative to the benchmark index and to the peer group median for the one-, three-, five- and ten-year periods.<br>The Board took into account management's discussion of the Trust's expenses. The Board noted the Trust's net total expenses are lower than the peer group median. |

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[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Appendix A

------

---

| | | | |
|:---|:---|:---|:---|
| **Portfolio (Subadvisor)** | &nbsp;&nbsp;&nbsp;**Performance as of 12/31/2024** | &nbsp;&nbsp;&nbsp;**Fees and Expenses** | &nbsp;&nbsp;&nbsp;**Comments** |
| Real Estate Securities Trust<br>(Wellington Management Company LLP) | &nbsp;&nbsp;Benchmark Index – The Trust outperformed the benchmark index for the one-, five- and ten-year periods and underperformed the benchmark index for the three-year period.<br>Broadridge Category – The Trust outperformed the peer group median for the one-, three-, five- and ten-year periods. | &nbsp;&nbsp;The subadvisor fees for this Trust are lower than the peer group median.<br>Net management fees for this Trust are lower than the peer group median.<br>Net total expenses for this Trust are lower than the peer group median. | &nbsp;&nbsp;The Board took into account management's discussion of the Trust's performance relative to the benchmark index for the three-year period.<br>The Board noted the Trust's favorable performance relative to the benchmark index for the one-, five- and ten-year periods and to the peer group median for the one-, three-, five- and ten-year periods.<br>The Board noted the Trust's net management fees and net total expenses are lower than the peer group median. |
| Science & Technology Trust<br>(T. Rowe Price Associates, Inc.) | &nbsp;&nbsp;Benchmark Index – The Trust outperformed the benchmark index for the one-year period and underperformed the benchmark index for the three-, five- and ten-year periods.<br>Broadridge Category – The Trust outperformed the peer group median for the one-, three-, five- and ten-year periods. | &nbsp;&nbsp;Subadvisor fee comparative data not provided due to limited size of Broadridge peer group for this purpose.<br>Net management fees for this Trust are higher than the peer group median.<br>Net total expenses for this Trust are lower than the peer group median.<br> The subadvisor fees for this Trust are higher than the peer group median. | &nbsp;&nbsp;The Board took into account management's discussion of the Trust's performance relative to the benchmark index for the three-, five- and ten-year periods.<br>The Board noted the Trust's favorable performance relative to the benchmark index for the one-year period and to the peer group median for the one-, three-, five- and ten-year periods.<br>The Board took into account management's discussion of the Trust's expenses. The Board noted the Trust's net total expenses are lower than the peer group median.<br> The Board took into account management's discussion of the factors that contributed to the Trust's performance to the benchmark index for the one-, five- and ten-year periods and to the peer group median for the one-, three-, five- and ten-year periods including the impact of past and current market conditions on the Trust's strategy and management's plans for the Trust. |

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[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Appendix A

------

---

| | | | |
|:---|:---|:---|:---|
| **Portfolio (Subadvisor)** | &nbsp;&nbsp;&nbsp;**Performance as of 12/31/2024** | &nbsp;&nbsp;&nbsp;**Fees and Expenses** | &nbsp;&nbsp;&nbsp;**Comments** |
| Small Cap Core Trust (formerly Small Cap Value Trust)<br>(Manulife Investment Management (US) LLC) | &nbsp;&nbsp;Benchmark Index – The Trust underperformed the benchmark index for the one-, five- and ten-year periods and outperformed the benchmark index for the three-year period.<br>Broadridge Category – The Trust underperformed the peer group median for the one-, three-, five- and ten-year periods. | &nbsp;&nbsp;The subadvisor fees for this Trust are higher than the peer group median.<br>Net management fees for this Trust are higher than the peer group median.<br>Net total expenses for this Trust are lower than the peer group median. | &nbsp;&nbsp;The Board noted the Trust's favorable performance relative to the benchmark index for the three-year period.<br>The Board noted that the fund's previous subadvisor was replaced, the fund's name was changed, and the fund's principal investment strategy was updated effective April 25, 2025. The Board noted that the fund's performance primarily reflects that of the previous subadvisor.<br> The Board took into account management's discussion of the Trust's expenses. The Board noted the Trust's net total expenses are lower than the peer group median. |
| Small Cap Index Trust<br>(Manulife Investment Management (US) LLC) | &nbsp;&nbsp;Benchmark Index – The Trust underperformed the benchmark index for the one-, three-, five- and ten-year periods.<br>Broadridge Category – The Trust underperformed the peer group median for the one-, three-, five- and ten-year periods. | &nbsp;&nbsp;The subadvisor fees for this Trust are lower than the peer group median.<br>Net management fees for this Trust are higher than the peer group median.<br>Net total expenses for this Trust are lower than the peer group median. | &nbsp;&nbsp;The Board took into account management's discussion of the factors that contributed to the Trust's performance to the benchmark index and to the peer group median for the one-, three-, five- and ten-year periods including the impact of past and current market conditions on the Trust's strategy and management's plans for the Trust.<br>The Board also noted the Trust's low performance dispersion relative to its benchmark index.<br>The Board took into account management's discussion of the Trust's expenses. The Board noted the Trust's net total expenses are lower than the peer group median. |
| Small Cap Opportunities Trust<br>(Dimensional Fund Advisors LP) | &nbsp;&nbsp;Benchmark Index – The Trust underperformed the benchmark index for the one-year period and outperformed the benchmark index for the three-, five- and ten-year periods.<br>Broadridge Category – The Trust underperformed the peer group median for the one-year period and outperformed the peer group median for the three-, five- and ten-year periods. | &nbsp;&nbsp;Subadvisor fee comparative data not provided due to limited size of Broadridge peer group for this purpose.<br>Net management fees for this Trust are higher than the peer group median.<br>Net total expenses for this Trust are lower than the peer group median. | &nbsp;&nbsp;The Board took into account management's discussion of the Trust's performance relative to the benchmark index and to the peer group median for the one-year period.<br>The Board noted the Trust's favorable performance relative to the benchmark index and to the peer group median for the three-, five- and ten-year periods.<br>The Board took into account management's discussion of the Trust's expenses. The Board noted the Trust's net total expenses are lower than the peer group median. |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Appendix A

------

---

| | | | |
|:---|:---|:---|:---|
| **Portfolio (Subadvisor)** | &nbsp;&nbsp;&nbsp;**Performance as of 12/31/2024** | &nbsp;&nbsp;&nbsp;**Fees and Expenses** | &nbsp;&nbsp;&nbsp;**Comments** |
| Small Cap Stock Trust<br>(Wellington Management Company LLP) | &nbsp;&nbsp;Benchmark Index – The Trust underperformed the benchmark index for the one-, three-, five- and ten-year periods.<br>Broadridge Category – The Trust underperformed the peer group median for the one-, three-, five- and ten-year periods. | &nbsp;&nbsp;The subadvisor fees for this Trust are higher than the peer group median.<br>Net management fees for this Trust are higher than the peer group median.<br>Net total expenses for this Trust are equal to the peer group median. | &nbsp;&nbsp;The Board took into account management's discussion of the factors that contributed to the Trust's performance to the benchmark index and to the peer group median for the one-, three-, five- and ten-year periods including the impact of past and current market conditions on the Trust's strategy and management's plans for the Trust.<br>The Board took into account management's discussion of the Trust's expenses. The Board noted the Trust's net total expenses are equal to the peer group median. |
| Small Company Value Trust<br>(T. Rowe Price Associates, Inc.) | &nbsp;&nbsp;Benchmark Index – The Trust outperformed the benchmark index for the one- and ten-year periods and underperformed the benchmark index for the three- and five-year period.<br>Broadridge Category – The Trust underperformed the peer group median for the one-, three-, five- and ten-year periods. | &nbsp;&nbsp;Subadvisor fee comparative data not provided due to limited size of Broadridge peer group for this purpose.<br>Net management fees for this Trust are higher than the peer group median.<br>Net total expenses for this Trust are higher than the peer group median. | &nbsp;&nbsp;The Board took into account management's discussion of the factors that contributed to the Trust's performance relative to the benchmark index for the three- and five-year periods and to the peer group median for the one-, three-, five- and ten-year periods including the impact of past and current market conditions on the Trust's strategy and management's plans for the Trust.<br>The Board noted the Trust's favorable performance relative to the benchmark index for the one- and ten-year periods.<br>The Board noted that the Trust outperformed its Morningstar category for the year-to-date period ended May 31, 2025.<br>The Board took into account management's discussion of the Trust's expenses. |
| Strategic Equity Allocation Trust<br>(Manulife Investment Management (US) LLC) | &nbsp;&nbsp;Benchmark Index – The Trust underperformed the benchmark index for the one-, three-, five- and ten-year periods.<br>Broadridge Category – The Trust outperformed the peer group median for the one-, three-, five- and ten-year periods. | &nbsp;&nbsp;Subadvisor fee comparative data not provided due to limited size of Broadridge peer group for this purpose.<br>Net management fees for this Trust are lower than the peer group median.<br>Net total expenses for this Trust are lower than the peer group median. | &nbsp;&nbsp;The Board took into account management's discussion of the Trust's performance relative to the benchmark index for the one-, three-, five- and ten-year periods.<br>The Board noted the Trust's favorable performance relative to the peer group median for the one-, three-, five- and ten-year periods.<br>The Board noted the Trust's net management fees and net total expenses are lower than the peer group median. |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

## John Hancock Variable Insurance Trust

#### Appendix A

------

---

| | | | |
|:---|:---|:---|:---|
| **Portfolio (Subadvisor)** | &nbsp;&nbsp;&nbsp;**Performance as of 12/31/2024** | &nbsp;&nbsp;&nbsp;**Fees and Expenses** | &nbsp;&nbsp;&nbsp;**Comments** |
| Total Stock Market Index Trust<br>(Manulife Investment Management (US) LLC) | &nbsp;&nbsp;Benchmark Index – The Trust underperformed the benchmark index for the one-, three-, five- and ten-year periods.<br>Broadridge Category – The Trust underperformed the peer group median for the one-, three-, five- and ten-year periods. | &nbsp;&nbsp;The subadvisor fees for this Trust are lower than the peer group median.<br>Net management fees for this Trust are higher than the peer group median.<br>Net total expenses for this Trust are lower than the peer group median. | &nbsp;&nbsp;The Board took into account management's discussion of the factors that contributed to the Trust's performance relative to the benchmark index and to the peer group median for the one-, three-, five- and ten-year periods including the impact of past and current market conditions on the Trust's strategy and management's plans for the Trust.<br>The Board also noted the Trust's low performance dispersion relative to its benchmark index. <br>The Board took into account management's discussion of the Trust's expenses. The Board noted the Trust's net total expenses are lower than the peer group median. |
| U.S. Growth Trust (formerly Capital Appreciation Trust)<br>(Wellington Management Company LLP) | &nbsp;&nbsp;Benchmark Index – The Trust underperformed the benchmark index for the one-, three-, five- and ten-year periods.<br>Broadridge Category – The Trust outperformed the peer group median for the one-, five- and ten-year periods and underperformed the peer group median for the three-year period. | &nbsp;&nbsp;The subadvisor fees for this Trust are lower than the peer group median.<br>Net management fees for this Trust are higher than the peer group median.<br>Net total expenses for this Trust are lower than the peer group median. | &nbsp;&nbsp;The Board took into account management's discussion of the factors that contributed to the Trust's performance relative to the benchmark index for the one-, three-, five- and ten-year periods and to the peer group median for the three-year period.<br>The Board noted the Trust's favorable performance relative to the peer group median for the one-, five- and ten-year periods.<br>The Board noted that the fund's previous subadvisor was replaced, the fund's name was changed, and the fund's principal investment strategy was updated effective May 28, 2025. The Board noted that the fund's performance primarily reflects that of the previous subadvisor.<br>The Board took into account management's discussion of the Trust's expenses. The Board noted the Trust's net total expenses are lower than the peer group median. |

---

------

[**Table of Contents**](#JOB_JHVIT_3e722fc1-a530-42bf-a5fa-58d13fe9aaa3_TOC)

![](img7a01d9251.gif)

John Hancock Distributors, LLC, Member FINRA, SIPC200 Berkeley Street, Boston, MA 02116

John Hancock Variable Annuities: 800-344-1029

John Hancock Variable Life Insurance: 800-732-5543

johnhancock.com

JHT0SA 6/30

8/25

1115015:625

------

![](imga5f8f20e1.gif)

![](img9ce80ad02.gif)

## JOHN HANCOCK

## Variable Insurance Trust

### Bond Trusts
Semiannual Financial Statements & Other N-CSR Items

June 30, 2025

------

## John Hancock Variable Insurance Trust

#### Semiannual Financial Statements & Other N-CSR Items — Table of contents

------

---

| | |
|:---|:---|
| **[Portfolio of investments](#xx_af8d800e-1c05-4b92-9b20-1bff92c031d6_1)[(See below for each portfolio's page #)](#xx_af8d800e-1c05-4b92-9b20-1bff92c031d6_1)<br>**  | **3** |
| **[Statements of assets and liabilities](#xx_b747d153-c07c-44d9-b6b6-6c31cfaad536_1)<br>**  | **114** |
| **[Statements of operations](#xx_2e828674-7853-49e9-b5e9-71a137a27507_1)<br>**  | **117** |
| **[Statements of changes in net assets](#xx_596cc64c-3e30-4240-bf64-fdfa9e0b2315_1)<br>**  | **120** |
| **[Financial highlights](#xx_950ae58a-4462-41cf-828d-db8f0d92aba2_1)<br>**  | **122** |
| **[Notes to financial statements](#xx_bd81fb07-5e19-4b8b-bf44-050fc8ff6cda_1)<br>**  | **128** |
| **[Special shareholder meeting](#xx_be32a1e3-43ba-4f87-b506-f88b8cf979b1_1)<br>**  | **149** |
| **[Evaluation of advisory and subadvisory agreements by the Board of Trustees](#xx_4cd6eb29-9491-458a-ad02-9785132e15f5_1)<br>**  | **150** |
| **[Appendix A](#xx_b226ee13-979f-457e-8c17-100cff07af61_1)<br>**  | **154** |

---

---

| | | |
|:---|:---|:---|
| **Portfolio** | **Portfolio of investments** | **Portfolio of investments** |
| [Active Bond Trust](#xx_af8d800e-1c05-4b92-9b20-1bff92c031d6_1) | [Active Bond Trust](#xx_af8d800e-1c05-4b92-9b20-1bff92c031d6_1) | 3 |
| [Core Bond Trust](#xx_af8d800e-1c05-4b92-9b20-1bff92c031d6_14) | [Core Bond Trust](#xx_af8d800e-1c05-4b92-9b20-1bff92c031d6_14) | 16 |
| [High Yield Trust](#xx_af8d800e-1c05-4b92-9b20-1bff92c031d6_29) | [High Yield Trust](#xx_af8d800e-1c05-4b92-9b20-1bff92c031d6_29) | 31 |
| [Investment Quality Bond Trust](#xx_af8d800e-1c05-4b92-9b20-1bff92c031d6_35) | [Investment Quality Bond Trust](#xx_af8d800e-1c05-4b92-9b20-1bff92c031d6_35) | 37 |
| [Money Market Trust](#xx_af8d800e-1c05-4b92-9b20-1bff92c031d6_49) | [Money Market Trust](#xx_af8d800e-1c05-4b92-9b20-1bff92c031d6_49) | 51 |
| [Opportunistic Fixed Income Trust](#xx_af8d800e-1c05-4b92-9b20-1bff92c031d6_51) | [Opportunistic Fixed Income Trust](#xx_af8d800e-1c05-4b92-9b20-1bff92c031d6_51) | 53 |

---

---

| | | |
|:---|:---|:---|
| **Portfolio** | **Portfolio of investments** | **Portfolio of investments** |
| [Select Bond Trust](#xx_af8d800e-1c05-4b92-9b20-1bff92c031d6_72) | [Select Bond Trust](#xx_af8d800e-1c05-4b92-9b20-1bff92c031d6_72) | 74 |
| [Short Term Government Income Trust](#xx_af8d800e-1c05-4b92-9b20-1bff92c031d6_83) | [Short Term Government Income Trust](#xx_af8d800e-1c05-4b92-9b20-1bff92c031d6_83) | 85 |
| [Strategic Income Opportunities Trust](#xx_af8d800e-1c05-4b92-9b20-1bff92c031d6_84) | [Strategic Income Opportunities Trust](#xx_af8d800e-1c05-4b92-9b20-1bff92c031d6_84) | 86 |
| [Total Bond Market Trust](#xx_af8d800e-1c05-4b92-9b20-1bff92c031d6_95) | [Total Bond Market Trust](#xx_af8d800e-1c05-4b92-9b20-1bff92c031d6_95) | 97 |
| [Ultra Short Term Bond Trust](#xx_af8d800e-1c05-4b92-9b20-1bff92c031d6_106) | [Ultra Short Term Bond Trust](#xx_af8d800e-1c05-4b92-9b20-1bff92c031d6_106) | 108 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Active Bond Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY OBLIGATIONS –<br> 53.4%** | **U.S. GOVERNMENT AND AGENCY OBLIGATIONS –<br> 53.4%** |  |
| **U.S. Government – 17.7%** |  |  |
| U.S. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;1.250%, 05/15/2050 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;960625 |
| &nbsp;&nbsp;&nbsp;1.375%, 08/15/2050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14529000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7163478 |
| &nbsp;&nbsp;&nbsp;1.625%, 11/15/2050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10252000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5401122 |
| &nbsp;&nbsp;&nbsp;1.875%, 02/15/2041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4126875 |
| &nbsp;&nbsp;&nbsp;2.000%, 08/15/2051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;241000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138942 |
| &nbsp;&nbsp;&nbsp;2.250%, 05/15/2041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2178750 |
| &nbsp;&nbsp;&nbsp;2.500%, 02/15/2045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4687000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3299575 |
| &nbsp;&nbsp;&nbsp;3.000%, 02/15/2047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3420000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2567538 |
| &nbsp;&nbsp;&nbsp;3.375%, 08/15/2042 to 11/15/2048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4916000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4008659 |
| &nbsp;&nbsp;&nbsp;3.875%, 05/15/2043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500194 |
| &nbsp;&nbsp;&nbsp;4.000%, 11/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1333000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1216102 |
| &nbsp;&nbsp;&nbsp;4.625%, 11/15/2044 to 02/15/2055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10587000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10314850 |
| &nbsp;&nbsp;&nbsp;4.750%, 11/15/2043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1859000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1857039 |
| U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;1.375%, 11/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3422344 |
| &nbsp;&nbsp;&nbsp;1.625%, 05/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1590000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1402305 |
| &nbsp;&nbsp;&nbsp;3.875%, 06/30/2030 to 08/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9460000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9397470 |
| &nbsp;&nbsp;&nbsp;4.000%, 06/30/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15387000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15399021 |
| &nbsp;&nbsp;&nbsp;4.250%, 06/30/2031 to 05/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25084000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25334991 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98689880 |
| **U.S. Government Agency – 35.7%** |  |  |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, 06/01/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;593954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;546819 |
| &nbsp;&nbsp;&nbsp;2.500%, 08/01/2051 to 12/01/2051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1479853 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1247513 |
| &nbsp;&nbsp;&nbsp;3.000%, 03/01/2043 to 08/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7150118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6330324 |
| &nbsp;&nbsp;&nbsp;3.500%, 10/01/2046 to 07/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14471059 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13225540 |
| &nbsp;&nbsp;&nbsp;4.000%, 01/01/2041 to 04/01/2053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8690494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8147166 |
| &nbsp;&nbsp;&nbsp;4.500%, 12/01/2037 to 02/01/2054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18208930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17597415 |
| &nbsp;&nbsp;&nbsp;5.000%, 08/01/2052 to 12/01/2054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14371687 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14185388 |
| &nbsp;&nbsp;&nbsp;5.500%, 04/01/2053 to 02/01/2055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8339481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8407340 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, 04/01/2037 to 12/01/2050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3004975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2479889 |
| &nbsp;&nbsp;&nbsp;2.500%, 01/01/2036 to 03/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7206778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6119375 |
| &nbsp;&nbsp;&nbsp;3.000%, 01/01/2043 to 05/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29836840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26239888 |
| &nbsp;&nbsp;&nbsp;3.500%, 06/01/2042 to 09/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23271766 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21235888 |
| &nbsp;&nbsp;&nbsp;4.000%, 10/01/2025 to 09/01/2053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23384085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22002719 |
| &nbsp;&nbsp;&nbsp;4.500%, 11/01/2037 to 08/01/2053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19125118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18470547 |
| &nbsp;&nbsp;&nbsp;5.000%, 12/01/2034 to 12/01/2054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21506746 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21269472 |
| &nbsp;&nbsp;&nbsp;5.500%, 09/01/2034 to 01/01/2055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10052914 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10141484 |
| &nbsp;&nbsp;&nbsp;6.997%, (6 month Refinitiv USD IBOR Consumer Cash Fallback Rate + 2.122%), 07/01/2033 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9281 |
| &nbsp;&nbsp;&nbsp;7.000%, 09/01/2031 to 01/01/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43599 |
| &nbsp;&nbsp;&nbsp;7.355%, (1 Year Refinitiv USD IBOR Consumer Cash Fallback Rate + 1.605%), 08/01/2034 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32683 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33464 |
| &nbsp;&nbsp;&nbsp;7.500%, 09/01/2029 to 05/01/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5359 |
| Government National<br> Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, 02/15/2041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;586587 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;566663 |
| &nbsp;&nbsp;&nbsp;5.000%, 04/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75198 |
| &nbsp;&nbsp;&nbsp;5.500%, 03/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38010 |
| &nbsp;&nbsp;&nbsp;6.000%, 03/15/2033 to 06/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58518 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60293 |
| &nbsp;&nbsp;&nbsp;6.500%, 09/15/2028 to 08/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6091 |
| &nbsp;&nbsp;&nbsp;7.000%, 04/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8132 |
| &nbsp;&nbsp;&nbsp;8.000%, 10/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2791 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2806 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198495663 |
| TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $314,189,193) | TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $314,189,193) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;297185543 |

---

#### Active Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS – 35.6%** | **CORPORATE BONDS – 35.6%** |  |
| **Communication services – 2.3%** |  |  |
| AT&T, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.750%, 06/01/2031 | $1047000 | $&nbsp;&nbsp;&nbsp;&nbsp;949320 |
| &nbsp;&nbsp;&nbsp;3.550%, 09/15/2055 | &nbsp;&nbsp;954000 | &nbsp;&nbsp;&nbsp;&nbsp;643709 |
| &nbsp;&nbsp;&nbsp;4.500%, 05/15/2035 | &nbsp;&nbsp;324000 | &nbsp;&nbsp;&nbsp;&nbsp;308736 |
| CCO Holdings LLC<br> 4.500%, 05/01/2032 | &nbsp;&nbsp;218000 | &nbsp;&nbsp;&nbsp;&nbsp;203011 |
| Charter Communications Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;2.800%, 04/01/2031 | &nbsp;&nbsp;947000 | &nbsp;&nbsp;&nbsp;&nbsp;844434 |
| &nbsp;&nbsp;&nbsp;6.384%, 10/23/2035 | &nbsp;&nbsp;728000 | &nbsp;&nbsp;&nbsp;&nbsp;764624 |
| GCI LLC<br> 4.750%, 10/15/2028 (B) | &nbsp;&nbsp;486000 | &nbsp;&nbsp;&nbsp;&nbsp;469932 |
| Gray Media, Inc.<br> 10.500%, 07/15/2029 (B) | &nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;483424 |
| IHS Holding, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;7.875%, 05/29/2030 (B) | &nbsp;&nbsp;341000 | &nbsp;&nbsp;&nbsp;&nbsp;341760 |
| &nbsp;&nbsp;&nbsp;8.250%, 11/29/2031 (B) | &nbsp;&nbsp;542000 | &nbsp;&nbsp;&nbsp;&nbsp;546733 |
| Iliad Holding SAS |  |  |
| &nbsp;&nbsp;&nbsp;7.000%, 04/15/2032 (B) | &nbsp;&nbsp;465000 | &nbsp;&nbsp;&nbsp;&nbsp;476430 |
| &nbsp;&nbsp;&nbsp;8.500%, 04/15/2031 (B) | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;213925 |
| Level 3 Financing, Inc.<br> 6.875%, 06/30/2033 (B) | &nbsp;&nbsp;655000 | &nbsp;&nbsp;&nbsp;&nbsp;666478 |
| Match Group Holdings II LLC |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, 10/01/2031 (B) | &nbsp;&nbsp;&nbsp;&nbsp;81000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72474 |
| &nbsp;&nbsp;&nbsp;4.125%, 08/01/2030 (B) | &nbsp;&nbsp;442000 | &nbsp;&nbsp;&nbsp;&nbsp;413352 |
| Midcontinent Communications<br> 8.000%, 08/15/2032 (B) | &nbsp;&nbsp;517000 | &nbsp;&nbsp;&nbsp;&nbsp;547128 |
| Millicom International Cellular SA |  |  |
| &nbsp;&nbsp;&nbsp;6.250%, 03/25/2029 (B) | &nbsp;&nbsp;304200 | &nbsp;&nbsp;&nbsp;&nbsp;304888 |
| &nbsp;&nbsp;&nbsp;7.375%, 04/02/2032 (B) | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;205299 |
| News Corp.<br> 3.875%, 05/15/2029 (B) | &nbsp;&nbsp;403000 | &nbsp;&nbsp;&nbsp;&nbsp;385566 |
| Paramount Global |  |  |
| &nbsp;&nbsp;&nbsp;4.200%, 05/19/2032 | &nbsp;&nbsp;190000 | &nbsp;&nbsp;&nbsp;&nbsp;173413 |
| &nbsp;&nbsp;&nbsp;4.375%, 03/15/2043 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;220852 |
| &nbsp;&nbsp;&nbsp;4.950%, 05/19/2050 | &nbsp;&nbsp;689000 | &nbsp;&nbsp;&nbsp;&nbsp;527119 |
| Sirius XM Radio LLC<br> 4.000%, 07/15/2028 (B) | &nbsp;&nbsp;148000 | &nbsp;&nbsp;&nbsp;&nbsp;142143 |
| T-Mobile USA, Inc.<br> 3.875%, 04/15/2030 | 1654000 | &nbsp;&nbsp;&nbsp;1606394 |
| Verizon Communications, Inc.<br> 2.550%, 03/21/2031 | &nbsp;&nbsp;647000 | &nbsp;&nbsp;&nbsp;&nbsp;580287 |
| Vodafone Group PLC<br> 7.000%, (7.000% to 4-4-29, then 5 Year U.S. Swap Rate + 4.873% to 4-4-49, then 5 Year U.S. Swap Rate + 5.623%), 04/04/2079 | &nbsp;&nbsp;452000 | &nbsp;&nbsp;&nbsp;&nbsp;471592 |
| Windstream Services LLC<br> 8.250%, 10/01/2031 (B) | &nbsp;&nbsp;218000 | &nbsp;&nbsp;&nbsp;&nbsp;228308 |
| WMG Acquisition Corp.<br> 3.875%, 07/15/2030 (B) | &nbsp;&nbsp;120000 | &nbsp;&nbsp;&nbsp;&nbsp;112160 |
|  |  | 12903491 |
| **Consumer discretionary – 3.3%** |  |  |
| Asbury Automotive Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, 11/15/2029 (B) | &nbsp;&nbsp;128000 | &nbsp;&nbsp;&nbsp;&nbsp;123582 |
| &nbsp;&nbsp;&nbsp;4.750%, 03/01/2030 | &nbsp;&nbsp;344000 | &nbsp;&nbsp;&nbsp;&nbsp;333071 |
| AutoNation, Inc.<br> 4.750%, 06/01/2030 | &nbsp;&nbsp;448000 | &nbsp;&nbsp;&nbsp;&nbsp;445445 |
| Booking Holdings, Inc.<br> 4.625%, 04/13/2030 | &nbsp;&nbsp;175000 | &nbsp;&nbsp;&nbsp;&nbsp;177011 |
| Brookfield Residential Properties, Inc.<br> 5.000%, 06/15/2029 (B) | &nbsp;&nbsp;&nbsp;&nbsp;94000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85547 |
| Caesars Entertainment, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.000%, 10/15/2032 (B)(C) | &nbsp;&nbsp;591000 | &nbsp;&nbsp;&nbsp;&nbsp;579601 |
| &nbsp;&nbsp;&nbsp;6.500%, 02/15/2032 (B) | &nbsp;&nbsp;234000 | &nbsp;&nbsp;&nbsp;&nbsp;240111 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>3</sub>

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Active Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Consumer discretionary (continued)** |  |  |
| Carnival Corp.<br> 5.875%, 06/15/2031 (B) | $&nbsp;&nbsp;456000 | $&nbsp;&nbsp;&nbsp;&nbsp;464550 |
| Century Communities, Inc.<br> 3.875%, 08/15/2029 (B) | &nbsp;&nbsp;189000 | &nbsp;&nbsp;&nbsp;&nbsp;175124 |
| Dealer Tire LLC<br> 8.000%, 02/01/2028 (B) | &nbsp;&nbsp;111000 | &nbsp;&nbsp;&nbsp;&nbsp;107212 |
| Flutter Treasury Designated Activity Company<br> 6.375%, 04/29/2029 (B) | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;206009 |
| Ford Motor Company<br> 3.250%, 02/12/2032 | &nbsp;&nbsp;266000 | &nbsp;&nbsp;&nbsp;&nbsp;224264 |
| Ford Motor Credit Company LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, 11/13/2030 | 1176000 | 1073628 |
| &nbsp;&nbsp;&nbsp;5.113%, 05/03/2029 | &nbsp;&nbsp;728000 | &nbsp;&nbsp;&nbsp;&nbsp;711831 |
| &nbsp;&nbsp;&nbsp;5.800%, 03/08/2029 | &nbsp;&nbsp;337000 | &nbsp;&nbsp;&nbsp;&nbsp;337704 |
| &nbsp;&nbsp;&nbsp;6.054%, 11/05/2031 | &nbsp;&nbsp;584000 | &nbsp;&nbsp;&nbsp;&nbsp;580987 |
| &nbsp;&nbsp;&nbsp;6.125%, 03/08/2034 | 1195000 | 1163277 |
| &nbsp;&nbsp;&nbsp;7.122%, 11/07/2033 | &nbsp;&nbsp;415000 | &nbsp;&nbsp;&nbsp;&nbsp;430702 |
| Full House Resorts, Inc.<br> 8.250%, 02/15/2028 (B)(C) | &nbsp;&nbsp;218000 | &nbsp;&nbsp;&nbsp;&nbsp;211825 |
| General Motors Financial Company, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.600%, 06/21/2030 | 1451000 | 1357732 |
| &nbsp;&nbsp;&nbsp;5.950%, 04/04/2034 | 1423000 | 1443237 |
| Genting New York LLC<br> 7.250%, 10/01/2029 (B) | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;207502 |
| Global Auto Holdings, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;8.750%, 01/15/2032 (B) | &nbsp;&nbsp;458000 | &nbsp;&nbsp;&nbsp;&nbsp;390445 |
| &nbsp;&nbsp;&nbsp;11.500%, 08/15/2029 (B) | &nbsp;&nbsp;315000 | &nbsp;&nbsp;&nbsp;&nbsp;308215 |
| Group 1 Automotive, Inc.<br> 4.000%, 08/15/2028 (B) | &nbsp;&nbsp;140000 | &nbsp;&nbsp;&nbsp;&nbsp;135137 |
| Hilton Grand Vacations Borrower LLC<br> 6.625%, 01/15/2032 (B) | &nbsp;&nbsp;401000 | &nbsp;&nbsp;&nbsp;&nbsp;407227 |
| Jacobs Entertainment, Inc.<br> 6.750%, 02/15/2029 (B) | &nbsp;&nbsp;104000 | &nbsp;&nbsp;&nbsp;&nbsp;100100 |
| KB Home<br> 4.000%, 06/15/2031 | &nbsp;&nbsp;215000 | &nbsp;&nbsp;&nbsp;&nbsp;199587 |
| Lithia Motors, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 06/01/2029 (B) | &nbsp;&nbsp;176000 | &nbsp;&nbsp;&nbsp;&nbsp;167849 |
| &nbsp;&nbsp;&nbsp;4.375%, 01/15/2031 (B) | &nbsp;&nbsp;341000 | &nbsp;&nbsp;&nbsp;&nbsp;324248 |
| &nbsp;&nbsp;&nbsp;4.625%, 12/15/2027 (B) | &nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;49610 |
| Macy's Retail Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, 04/01/2029 (B) | &nbsp;&nbsp;236000 | &nbsp;&nbsp;&nbsp;&nbsp;233579 |
| &nbsp;&nbsp;&nbsp;5.875%, 03/15/2030 (B) | &nbsp;&nbsp;182000 | &nbsp;&nbsp;&nbsp;&nbsp;178767 |
| &nbsp;&nbsp;&nbsp;6.125%, 03/15/2032 (B) | &nbsp;&nbsp;213000 | &nbsp;&nbsp;&nbsp;&nbsp;203069 |
| MGM Resorts International<br> 4.750%, 10/15/2028 | &nbsp;&nbsp;620000 | &nbsp;&nbsp;&nbsp;&nbsp;612563 |
| Midwest Gaming Borrower LLC<br> 4.875%, 05/01/2029 (B) | &nbsp;&nbsp;496000 | &nbsp;&nbsp;&nbsp;&nbsp;477780 |
| NCL Corp., Ltd.<br> 6.750%, 02/01/2032 (B) | &nbsp;&nbsp;384000 | &nbsp;&nbsp;&nbsp;&nbsp;392305 |
| Newell Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.375%, 05/15/2030 | &nbsp;&nbsp;298000 | &nbsp;&nbsp;&nbsp;&nbsp;289902 |
| &nbsp;&nbsp;&nbsp;8.500%, 06/01/2028 (B) | &nbsp;&nbsp;268000 | &nbsp;&nbsp;&nbsp;&nbsp;281457 |
| Rakuten Group, Inc.<br> 9.750%, 04/15/2029 (B) | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;219076 |
| Resorts World Las Vegas LLC<br> 4.625%, 04/16/2029 (B) | &nbsp;&nbsp;495000 | &nbsp;&nbsp;&nbsp;&nbsp;438487 |
| Rivers Enterprise Borrower LLC<br> 6.625%, 02/01/2033 (B) | &nbsp;&nbsp;334000 | &nbsp;&nbsp;&nbsp;&nbsp;334432 |
| Royal Caribbean Cruises, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;5.625%, 09/30/2031 (B) | &nbsp;&nbsp;209000 | &nbsp;&nbsp;&nbsp;&nbsp;210277 |
| &nbsp;&nbsp;&nbsp;6.250%, 03/15/2032 (B) | &nbsp;&nbsp;118000 | &nbsp;&nbsp;&nbsp;&nbsp;121290 |
| S&S Holdings LLC<br> 8.375%, 10/01/2031 (B) | &nbsp;&nbsp;107000 | &nbsp;&nbsp;&nbsp;&nbsp;104570 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Consumer discretionary (continued)** |  |  |
| Sabre GLBL, Inc.<br> 11.125%, 07/15/2030 (B) | $206000 | $&nbsp;&nbsp;&nbsp;&nbsp;215476 |
| Saks Global Enterprises LLC<br> 11.000%, 12/15/2029 (B) | 401000 | &nbsp;&nbsp;&nbsp;&nbsp;150375 |
| Service Corp. International<br> 5.750%, 10/15/2032 | 103000 | &nbsp;&nbsp;&nbsp;&nbsp;104050 |
| The Michaels Companies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, 05/01/2028 (B) | 449000 | &nbsp;&nbsp;&nbsp;&nbsp;358976 |
| &nbsp;&nbsp;&nbsp;7.875%, 05/01/2029 (B) | 350000 | &nbsp;&nbsp;&nbsp;&nbsp;229250 |
| Travel + Leisure Company<br> 4.625%, 03/01/2030 (B) | 101000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96834 |
| Under Armour, Inc.<br> 7.250%, 07/15/2030 (B) | 101000 | &nbsp;&nbsp;&nbsp;&nbsp;102283 |
| Valvoline, Inc.<br> 3.625%, 06/15/2031 (B) | 424000 | &nbsp;&nbsp;&nbsp;&nbsp;383910 |
|  |  | 18501078 |
| **Consumer staples – 0.5%** |  |  |
| JBS USA LUX SA |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, 01/15/2032 | 460000 | &nbsp;&nbsp;&nbsp;&nbsp;420619 |
| &nbsp;&nbsp;&nbsp;3.750%, 12/01/2031 | &nbsp;&nbsp;86000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80022 |
| &nbsp;&nbsp;&nbsp;5.750%, 04/01/2033 | 466000 | &nbsp;&nbsp;&nbsp;&nbsp;479011 |
| &nbsp;&nbsp;&nbsp;5.950%, 04/20/2035 (B) | 133000 | &nbsp;&nbsp;&nbsp;&nbsp;137785 |
| MARB BondCo PLC<br> 3.950%, 01/29/2031 (B) | 712000 | &nbsp;&nbsp;&nbsp;&nbsp;630939 |
| Mars, Inc.<br> 5.000%, 03/01/2032 (B) | 323000 | &nbsp;&nbsp;&nbsp;&nbsp;327294 |
| NBM US Holdings, Inc.<br> 6.625%, 08/06/2029 (B) | 448000 | &nbsp;&nbsp;&nbsp;&nbsp;450586 |
| Pilgrim's Pride Corp.<br> 6.250%, 07/01/2033 | 365000 | &nbsp;&nbsp;&nbsp;&nbsp;385907 |
|  |  | &nbsp;&nbsp;&nbsp;2912163 |
| **Energy – 5.9%** |  |  |
| Aker BP ASA |  |  |
| &nbsp;&nbsp;&nbsp;3.750%, 01/15/2030 (B) | 150000 | &nbsp;&nbsp;&nbsp;&nbsp;142832 |
| &nbsp;&nbsp;&nbsp;4.000%, 01/15/2031 (B) | 289000 | &nbsp;&nbsp;&nbsp;&nbsp;274486 |
| &nbsp;&nbsp;&nbsp;5.800%, 10/01/2054 (B) | 235000 | &nbsp;&nbsp;&nbsp;&nbsp;214234 |
| Antero Midstream Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;5.375%, 06/15/2029 (B) | 364000 | &nbsp;&nbsp;&nbsp;&nbsp;361265 |
| &nbsp;&nbsp;&nbsp;6.625%, 02/01/2032 (B) | 341000 | &nbsp;&nbsp;&nbsp;&nbsp;352202 |
| Antero Resources Corp.<br> 5.375%, 03/01/2030 (B) | &nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90576 |
| Ascent Resources Utica Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, 06/30/2029 (B) | 433000 | &nbsp;&nbsp;&nbsp;&nbsp;433736 |
| &nbsp;&nbsp;&nbsp;6.625%, 10/15/2032 (B) | 145000 | &nbsp;&nbsp;&nbsp;&nbsp;147573 |
| &nbsp;&nbsp;&nbsp;6.625%, 07/15/2033 (B) | 172000 | &nbsp;&nbsp;&nbsp;&nbsp;174494 |
| Blue Racer Midstream LLC |  |  |
| &nbsp;&nbsp;&nbsp;7.000%, 07/15/2029 (B) | 103000 | &nbsp;&nbsp;&nbsp;&nbsp;107497 |
| &nbsp;&nbsp;&nbsp;7.250%, 07/15/2032 (B) | 430000 | &nbsp;&nbsp;&nbsp;&nbsp;455653 |
| Cheniere Energy Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, 03/01/2031 | 708000 | &nbsp;&nbsp;&nbsp;&nbsp;673720 |
| &nbsp;&nbsp;&nbsp;5.550%, 10/30/2035 (B) | 267000 | &nbsp;&nbsp;&nbsp;&nbsp;269099 |
| &nbsp;&nbsp;&nbsp;5.950%, 06/30/2033 | 558000 | &nbsp;&nbsp;&nbsp;&nbsp;582460 |
| Cheniere Energy, Inc.<br> 5.650%, 04/15/2034 | 196000 | &nbsp;&nbsp;&nbsp;&nbsp;200739 |
| Civitas Resources, Inc.<br> 8.625%, 11/01/2030 (B) | 131000 | &nbsp;&nbsp;&nbsp;&nbsp;132996 |
| Columbia Pipelines Holding Company LLC<br> 5.681%, 01/15/2034 (B) | 413000 | &nbsp;&nbsp;&nbsp;&nbsp;418077 |
| Columbia Pipelines Operating<br> Company LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.927%, 08/15/2030 (B) | 105000 | &nbsp;&nbsp;&nbsp;&nbsp;110841 |
| &nbsp;&nbsp;&nbsp;6.036%, 11/15/2033 (B) | 656000 | &nbsp;&nbsp;&nbsp;&nbsp;688330 |
| Continental Resources, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.875%, 04/01/2032 (B) | 330000 | &nbsp;&nbsp;&nbsp;&nbsp;277425 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>4</sub>

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Active Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Energy (continued)** |  |  |
| Continental Resources, Inc. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;4.900%, 06/01/2044 | $&nbsp;&nbsp;334000 | $&nbsp;&nbsp;&nbsp;&nbsp;262410 |
| &nbsp;&nbsp;&nbsp;5.750%, 01/15/2031 (B) | &nbsp;&nbsp;616000 | &nbsp;&nbsp;&nbsp;&nbsp;621904 |
| DT Midstream, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.375%, 06/15/2031 (B) | 1077000 | 1031319 |
| &nbsp;&nbsp;&nbsp;5.800%, 12/15/2034 (B) | &nbsp;&nbsp;214000 | &nbsp;&nbsp;&nbsp;&nbsp;217940 |
| Enbridge, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.500%, (5.500% to 7-15-27, then 3 month CME Term SOFR + 3.680% to 7-15-47, then 3 month CME Term SOFR + 4.430%), 07/15/2077 | &nbsp;&nbsp;507000 | &nbsp;&nbsp;&nbsp;&nbsp;502795 |
| &nbsp;&nbsp;&nbsp;5.750%, (5.750% to 7-15-30, then 5 Year CMT + 5.314% to 7-15-50, then 5 Year CMT + 6.064%), 07/15/2080 | &nbsp;&nbsp;629000 | &nbsp;&nbsp;&nbsp;&nbsp;627240 |
| &nbsp;&nbsp;&nbsp;6.250%, (6.250% to 3-1-28, then 3 month CME Term SOFR + 3.903% to 3-1-48, then 3 month CME Term SOFR + 4.653%), 03/01/2078 | &nbsp;&nbsp;490000 | &nbsp;&nbsp;&nbsp;&nbsp;491941 |
| &nbsp;&nbsp;&nbsp;8.500%, (8.500% to 1-15-34, then 5 Year CMT + 4.431% to 1-15-54, then 5 Year CMT + 5.181%), 01/15/2084 | &nbsp;&nbsp;171000 | &nbsp;&nbsp;&nbsp;&nbsp;190386 |
| Energean Israel Finance, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;5.375%, 03/30/2028 (B) | &nbsp;&nbsp;151000 | &nbsp;&nbsp;&nbsp;&nbsp;143639 |
| &nbsp;&nbsp;&nbsp;5.875%, 03/30/2031 (B) | &nbsp;&nbsp;260000 | &nbsp;&nbsp;&nbsp;&nbsp;239484 |
| Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp;5.150%, 03/15/2045 | &nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;484647 |
| &nbsp;&nbsp;&nbsp;5.400%, 10/01/2047 | &nbsp;&nbsp;651000 | &nbsp;&nbsp;&nbsp;&nbsp;579729 |
| &nbsp;&nbsp;&nbsp;5.600%, 09/01/2034 | &nbsp;&nbsp;305000 | &nbsp;&nbsp;&nbsp;&nbsp;309762 |
| &nbsp;&nbsp;&nbsp;6.500%, (6.500% to 11-15-26, then 5 Year CMT + 5.694%), 11/15/2026 (D) | &nbsp;&nbsp;964000 | &nbsp;&nbsp;&nbsp;&nbsp;968307 |
| &nbsp;&nbsp;&nbsp;7.125%, (7.125% to 5-15-30, then 5 Year CMT + 5.306%), 05/15/2030 (D) | &nbsp;&nbsp;761000 | &nbsp;&nbsp;&nbsp;&nbsp;775203 |
| Enterprise Products Operating LLC<br> 5.250%, (5.250% to 8-16-27, then 3 month CME Term SOFR + 3.295%), 08/16/2077 | &nbsp;&nbsp;909000 | &nbsp;&nbsp;&nbsp;&nbsp;899380 |
| EQT Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.375%, 04/01/2029 (B) | &nbsp;&nbsp;257000 | &nbsp;&nbsp;&nbsp;&nbsp;265094 |
| &nbsp;&nbsp;&nbsp;7.500%, 06/01/2030 (B) | &nbsp;&nbsp;115000 | &nbsp;&nbsp;&nbsp;&nbsp;126386 |
| Expand Energy Corp.<br> 4.750%, 02/01/2032 | &nbsp;&nbsp;406000 | &nbsp;&nbsp;&nbsp;&nbsp;394789 |
| Genesis Energy LP |  |  |
| &nbsp;&nbsp;&nbsp;7.875%, 05/15/2032 | &nbsp;&nbsp;238000 | &nbsp;&nbsp;&nbsp;&nbsp;247460 |
| &nbsp;&nbsp;&nbsp;8.000%, 05/15/2033 | &nbsp;&nbsp;270000 | &nbsp;&nbsp;&nbsp;&nbsp;282291 |
| Global Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;7.125%, 07/01/2033 (B) | &nbsp;&nbsp;&nbsp;&nbsp;78000 | &nbsp;&nbsp;&nbsp;&nbsp;79093 |
| &nbsp;&nbsp;&nbsp;8.250%, 01/15/2032 (B) | &nbsp;&nbsp;266000 | &nbsp;&nbsp;&nbsp;&nbsp;279747 |
| Harbour Energy PLC<br> 6.327%, 04/01/2035 (B) | &nbsp;&nbsp;810000 | &nbsp;&nbsp;&nbsp;&nbsp;805241 |
| Hess Midstream Operations LP |  |  |
| &nbsp;&nbsp;&nbsp;4.250%, 02/15/2030 (B) | &nbsp;&nbsp;&nbsp;&nbsp;78000 | &nbsp;&nbsp;&nbsp;&nbsp;74995 |
| &nbsp;&nbsp;&nbsp;5.500%, 10/15/2030 (B) | &nbsp;&nbsp;&nbsp;&nbsp;31000 | &nbsp;&nbsp;&nbsp;&nbsp;31137 |
| &nbsp;&nbsp;&nbsp;6.500%, 06/01/2029 (B) | &nbsp;&nbsp;105000 | &nbsp;&nbsp;&nbsp;&nbsp;107983 |
| Howard Midstream Energy Partners LLC<br> 7.375%, 07/15/2032 (B) | &nbsp;&nbsp;&nbsp;&nbsp;64000 | &nbsp;&nbsp;&nbsp;&nbsp;67309 |
| Leviathan Bond, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;6.500%, 06/30/2027 (B) | &nbsp;&nbsp;666000 | &nbsp;&nbsp;&nbsp;&nbsp;660364 |
| &nbsp;&nbsp;&nbsp;6.750%, 06/30/2030 (B) | &nbsp;&nbsp;113000 | &nbsp;&nbsp;&nbsp;&nbsp;111192 |
| Long Ridge Energy LLC<br> 8.750%, 02/15/2032 (B) | &nbsp;&nbsp;336000 | &nbsp;&nbsp;&nbsp;&nbsp;349021 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Energy (continued)** |  |  |
| Matador Resources Company<br> 6.250%, 04/15/2033 (B) | $&nbsp;&nbsp;236000 | $&nbsp;&nbsp;&nbsp;&nbsp;234255 |
| MC Brazil Downstream Trading SARL<br> 7.250%, 06/30/2031 (B) | &nbsp;&nbsp;418704 | &nbsp;&nbsp;&nbsp;&nbsp;330525 |
| MPLX LP |  |  |
| &nbsp;&nbsp;&nbsp;4.950%, 09/01/2032 | &nbsp;&nbsp;289000 | &nbsp;&nbsp;&nbsp;&nbsp;286327 |
| &nbsp;&nbsp;&nbsp;5.000%, 03/01/2033 | &nbsp;&nbsp;355000 | &nbsp;&nbsp;&nbsp;&nbsp;350061 |
| Occidental Petroleum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.375%, 01/01/2032 | &nbsp;&nbsp;229000 | &nbsp;&nbsp;&nbsp;&nbsp;227116 |
| &nbsp;&nbsp;&nbsp;6.050%, 10/01/2054 | &nbsp;&nbsp;582000 | &nbsp;&nbsp;&nbsp;&nbsp;533234 |
| &nbsp;&nbsp;&nbsp;6.450%, 09/15/2036 | &nbsp;&nbsp;563000 | &nbsp;&nbsp;&nbsp;&nbsp;576018 |
| &nbsp;&nbsp;&nbsp;6.600%, 03/15/2046 | &nbsp;&nbsp;219000 | &nbsp;&nbsp;&nbsp;&nbsp;215812 |
| &nbsp;&nbsp;&nbsp;6.625%, 09/01/2030 | &nbsp;&nbsp;625000 | &nbsp;&nbsp;&nbsp;&nbsp;660863 |
| ONEOK, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.050%, 09/01/2033 | &nbsp;&nbsp;565000 | &nbsp;&nbsp;&nbsp;&nbsp;592830 |
| &nbsp;&nbsp;&nbsp;6.625%, 09/01/2053 | &nbsp;&nbsp;527000 | &nbsp;&nbsp;&nbsp;&nbsp;547692 |
| Ovintiv, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.250%, 07/15/2033 | &nbsp;&nbsp;265000 | &nbsp;&nbsp;&nbsp;&nbsp;273597 |
| &nbsp;&nbsp;&nbsp;7.200%, 11/01/2031 | &nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59424 |
| Parkland Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 10/01/2029 (B) | &nbsp;&nbsp;376000 | &nbsp;&nbsp;&nbsp;&nbsp;361443 |
| &nbsp;&nbsp;&nbsp;4.625%, 05/01/2030 (B) | &nbsp;&nbsp;327000 | &nbsp;&nbsp;&nbsp;&nbsp;313123 |
| &nbsp;&nbsp;&nbsp;6.625%, 08/15/2032 (B) | &nbsp;&nbsp;160000 | &nbsp;&nbsp;&nbsp;&nbsp;163533 |
| Sabine Pass Liquefaction LLC<br> 4.500%, 05/15/2030 | &nbsp;&nbsp;817000 | &nbsp;&nbsp;&nbsp;&nbsp;815633 |
| Saudi Arabian Oil Company<br> 5.250%, 07/17/2034 (B) | &nbsp;&nbsp;305000 | &nbsp;&nbsp;&nbsp;&nbsp;308170 |
| Sunoco LP |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 04/30/2030 | &nbsp;&nbsp;569000 | &nbsp;&nbsp;&nbsp;&nbsp;547094 |
| &nbsp;&nbsp;&nbsp;6.250%, 07/01/2033 (B) | &nbsp;&nbsp;219000 | &nbsp;&nbsp;&nbsp;&nbsp;222657 |
| &nbsp;&nbsp;&nbsp;7.000%, 05/01/2029 (B) | &nbsp;&nbsp;271000 | &nbsp;&nbsp;&nbsp;&nbsp;282215 |
| &nbsp;&nbsp;&nbsp;7.250%, 05/01/2032 (B) | &nbsp;&nbsp;324000 | &nbsp;&nbsp;&nbsp;&nbsp;340194 |
| Talos Production, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;9.000%, 02/01/2029 (B) | &nbsp;&nbsp;&nbsp;&nbsp;53000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54265 |
| &nbsp;&nbsp;&nbsp;9.375%, 02/01/2031 (B) | &nbsp;&nbsp;&nbsp;&nbsp;66000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67383 |
| Targa Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.500%, 02/15/2035 | &nbsp;&nbsp;564000 | &nbsp;&nbsp;&nbsp;&nbsp;565976 |
| &nbsp;&nbsp;&nbsp;6.150%, 03/01/2029 | &nbsp;&nbsp;418000 | &nbsp;&nbsp;&nbsp;&nbsp;439591 |
| Targa Resources Partners LP<br> 4.000%, 01/15/2032 | &nbsp;&nbsp;523000 | &nbsp;&nbsp;&nbsp;&nbsp;487430 |
| Var Energi ASA |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, 05/22/2030 (B) | &nbsp;&nbsp;506000 | &nbsp;&nbsp;&nbsp;&nbsp;518391 |
| &nbsp;&nbsp;&nbsp;8.000%, 11/15/2032 (B) | 1043000 | &nbsp;&nbsp;&nbsp;1182061 |
| Venture Global Calcasieu Pass LLC<br> 4.125%, 08/15/2031 (B) | &nbsp;&nbsp;177000 | &nbsp;&nbsp;&nbsp;&nbsp;163830 |
| Venture Global LNG, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;7.000%, 01/15/2030 (B) | &nbsp;&nbsp;315000 | &nbsp;&nbsp;&nbsp;&nbsp;318438 |
| &nbsp;&nbsp;&nbsp;9.000%, (9.000% to 9-30-29, then 5 Year CMT + 5.440%), 09/30/2029 (B)(D) | &nbsp;&nbsp;988000 | &nbsp;&nbsp;&nbsp;&nbsp;960532 |
| &nbsp;&nbsp;&nbsp;9.500%, 02/01/2029 (B) | &nbsp;&nbsp;538000 | &nbsp;&nbsp;&nbsp;&nbsp;586085 |
| Western Midstream Operating LP |  |  |
| &nbsp;&nbsp;&nbsp;4.050%, 02/01/2030 | &nbsp;&nbsp;377000 | &nbsp;&nbsp;&nbsp;&nbsp;362570 |
| &nbsp;&nbsp;&nbsp;5.450%, 11/15/2034 | &nbsp;&nbsp;285000 | &nbsp;&nbsp;&nbsp;&nbsp;279414 |
| Whistler Pipeline LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.400%, 09/30/2029 (B) | &nbsp;&nbsp;228000 | &nbsp;&nbsp;&nbsp;&nbsp;230608 |
| &nbsp;&nbsp;&nbsp;5.700%, 09/30/2031 (B) | &nbsp;&nbsp;230000 | &nbsp;&nbsp;&nbsp;&nbsp;234470 |
|  |  | 33029283 |
| **Financials – 11.0%** |  |  |
| Ally Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.737%, (5.737% to 5-15-28, then SOFR Compouned Index + 1.960%), 05/15/2029 | &nbsp;&nbsp;210000 | &nbsp;&nbsp;&nbsp;&nbsp;213739 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>5</sub>

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Active Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| Ally Financial, Inc. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;6.184%, (6.184% to 7-26-34, then Overnight SOFR + 2.290%), 07/26/2035 | $&nbsp;&nbsp;358000 | $&nbsp;&nbsp;&nbsp;&nbsp;365152 |
| &nbsp;&nbsp;&nbsp;8.000%, 11/01/2031 | &nbsp;&nbsp;467000 | &nbsp;&nbsp;&nbsp;&nbsp;531736 |
| Ambac Assurance Corp.<br> 5.100%, 01/21/2025 (B)(D) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177 |
| AmWINS Group, Inc.<br> 6.375%, 02/15/2029 (B) | &nbsp;&nbsp;204000 | &nbsp;&nbsp;&nbsp;&nbsp;207924 |
| Apollo Debt Solutions BDC |  |  |
| &nbsp;&nbsp;&nbsp;6.700%, 07/29/2031 | &nbsp;&nbsp;452000 | &nbsp;&nbsp;&nbsp;&nbsp;469689 |
| &nbsp;&nbsp;&nbsp;6.900%, 04/13/2029 | &nbsp;&nbsp;793000 | &nbsp;&nbsp;&nbsp;&nbsp;827782 |
| Ares Capital Corp.<br> 5.875%, 03/01/2029 | &nbsp;&nbsp;235000 | &nbsp;&nbsp;&nbsp;&nbsp;239620 |
| Ares Strategic Income Fund |  |  |
| &nbsp;&nbsp;&nbsp;5.600%, 02/15/2030 | &nbsp;&nbsp;434000 | &nbsp;&nbsp;&nbsp;&nbsp;432687 |
| &nbsp;&nbsp;&nbsp;5.700%, 03/15/2028 | &nbsp;&nbsp;108000 | &nbsp;&nbsp;&nbsp;&nbsp;108873 |
| &nbsp;&nbsp;&nbsp;5.800%, 09/09/2030 (B) | &nbsp;&nbsp;532000 | &nbsp;&nbsp;&nbsp;&nbsp;533859 |
| &nbsp;&nbsp;&nbsp;6.200%, 03/21/2032 | &nbsp;&nbsp;381000 | &nbsp;&nbsp;&nbsp;&nbsp;382108 |
| &nbsp;&nbsp;&nbsp;6.350%, 08/15/2029 | &nbsp;&nbsp;178000 | &nbsp;&nbsp;&nbsp;&nbsp;182491 |
| Athene Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;4.721%, 10/08/2029 (B) | &nbsp;&nbsp;328000 | &nbsp;&nbsp;&nbsp;&nbsp;327270 |
| &nbsp;&nbsp;&nbsp;5.322%, 11/13/2031 (B) | &nbsp;&nbsp;330000 | &nbsp;&nbsp;&nbsp;&nbsp;332598 |
| Athene Holding, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, 01/15/2031 | &nbsp;&nbsp;141000 | &nbsp;&nbsp;&nbsp;&nbsp;132725 |
| &nbsp;&nbsp;&nbsp;6.625%, (6.625% to 10-15-34, then 5 Year CMT + 2.607%), 10/15/2054 | &nbsp;&nbsp;228000 | &nbsp;&nbsp;&nbsp;&nbsp;224443 |
| Atlas Warehouse Lending Company LP<br> 6.250%, 01/15/2030 (B) | &nbsp;&nbsp;267000 | &nbsp;&nbsp;&nbsp;&nbsp;269820 |
| Baldwin Insurance Group Holdings LLC<br> 7.125%, 05/15/2031 (B) | &nbsp;&nbsp;155000 | &nbsp;&nbsp;&nbsp;&nbsp;161137 |
| Banco Santander SA<br> 9.625%, (9.625% to 11-21-33, then 5 Year CMT + 5.298%), 05/21/2033 (D) | &nbsp;&nbsp;684000 | &nbsp;&nbsp;&nbsp;&nbsp;797696 |
| Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.592%, (2.592% to 4-29-30, then Overnight SOFR + 2.150%), 04/29/2031 | &nbsp;&nbsp;792000 | &nbsp;&nbsp;&nbsp;&nbsp;724047 |
| &nbsp;&nbsp;&nbsp;2.687%, (2.687% to 4-22-31, then Overnight SOFR + 1.320%), 04/22/2032 | 1431000 | 1284215 |
| &nbsp;&nbsp;&nbsp;4.571%, (4.571% to 4-27-32, then Overnight SOFR + 1.830%), 04/27/2033 | &nbsp;&nbsp;477000 | &nbsp;&nbsp;&nbsp;&nbsp;469402 |
| &nbsp;&nbsp;&nbsp;5.425%, (5.425% to 8-15-34, then Overnight SOFR + 1.913%), 08/15/2035 | 1261000 | 1260628 |
| &nbsp;&nbsp;&nbsp;6.625%, (6.625% to 5-1-30, then 5 Year CMT + 2.684%), 05/01/2030 (D) | &nbsp;&nbsp;818000 | &nbsp;&nbsp;&nbsp;&nbsp;847164 |
| Bank of Montreal<br> 7.700%, (7.700% to 5-26-29, then 5 Year CMT + 3.452%), 05/26/2084 | &nbsp;&nbsp;717000 | &nbsp;&nbsp;&nbsp;&nbsp;740363 |
| Barclays PLC |  |  |
| &nbsp;&nbsp;&nbsp;5.367%, (5.367% to 2-25-30, then Overnight SOFR + 1.230%), 02/25/2031 | &nbsp;&nbsp;488000 | &nbsp;&nbsp;&nbsp;&nbsp;498485 |
| &nbsp;&nbsp;&nbsp;7.625%, (7.625% to 9-15-35, then 5 Year SOFR ICE Swap Rate + 3.686%), 03/15/2035 (D) | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;200859 |
| &nbsp;&nbsp;&nbsp;8.000%, (8.000% to 9-15-29, then 5 Year CMT + 5.431%), 03/15/2029 (D) | &nbsp;&nbsp;659000 | &nbsp;&nbsp;&nbsp;&nbsp;691243 |
| Blackstone Private Credit Fund |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, 04/01/2030 | &nbsp;&nbsp;449000 | &nbsp;&nbsp;&nbsp;&nbsp;444996 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| Blackstone Private<br> Credit Fund (continued) |  |  |
| &nbsp;&nbsp;&nbsp;5.950%, 07/16/2029 | $337000 | $343377 |
| &nbsp;&nbsp;&nbsp;6.000%, 01/29/2032 | 379000 | 381095 |
| &nbsp;&nbsp;&nbsp;7.300%, 11/27/2028 | 330000 | 351943 |
| Blackstone Secured Lending Fund<br> 5.350%, 04/13/2028 | 375000 | 377663 |
| BNP Paribas SA |  |  |
| &nbsp;&nbsp;&nbsp;5.497%, (5.497% to 5-20-29, then Overnight SOFR + 1.590%), 05/20/2030 (B) | 421000 | 432290 |
| &nbsp;&nbsp;&nbsp;9.250%, (9.250% to 11-17-27, then 5 Year CMT + 4.969%), 11/17/2027 (B)(D) | 230000 | 246429 |
| BPCE SA<br> 5.716%, (5.716% to 1-18-29, then Overnight SOFR + 1.959%), 01/18/2030 (B) | 396000 | 407709 |
| Brookfield Finance, Inc.<br> 6.300%, (6.300% to 1-15-35, then 5 Year CMT + 2.076%), 01/15/2055 | 540000 | 516753 |
| Citigroup, Inc.<br> 6.174%, (6.174% to 5-25-33, then Overnight SOFR + 2.661%), 05/25/2034 | 643000 | 673111 |
| Citizens Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.250%, 04/30/2030 | 100000 | &nbsp;&nbsp;&nbsp;93542 |
| &nbsp;&nbsp;&nbsp;5.253%, (5.253% to 3-5-30, then Overnight SOFR + 1.259%), 03/05/2031 | 347000 | 351648 |
| &nbsp;&nbsp;&nbsp;5.718%, (5.718% to 7-23-31, then Overnight SOFR + 1.910%), 07/23/2032 | 893000 | 923840 |
| CNO Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, 05/30/2029 | 651000 | 656705 |
| &nbsp;&nbsp;&nbsp;6.450%, 06/15/2034 | 286000 | 299938 |
| Comerica, Inc.<br> 5.982%, (5.982% to 1-30-29, then Overnight SOFR + 2.155%), 01/30/2030 | 305000 | 312409 |
| Credit Agricole SA |  |  |
| &nbsp;&nbsp;&nbsp;3.250%, 01/14/2030 (B) | 932000 | 868414 |
| &nbsp;&nbsp;&nbsp;6.316%, (6.316% to 10-3-28, then Overnight SOFR + 1.860%), 10/03/2029 (B) | 646000 | 678953 |
| Danske Bank A/S<br> 5.019%, (5.019% to 3-4-30, then 1 Year CMT + 0.930%), 03/04/2031 (B) | 564000 | 570392 |
| Deutsche Bank AG |  |  |
| &nbsp;&nbsp;&nbsp;3.742%, (3.742% to 1-7-32, then Overnight SOFR + 2.257%), 01/07/2033 | 703000 | 632755 |
| &nbsp;&nbsp;&nbsp;5.297%, (5.297% to 5-9-30, then Overnight SOFR + 1.720%), 05/09/2031 | 366000 | 371717 |
| &nbsp;&nbsp;&nbsp;6.819%, (6.819% to 11-20-28, then Overnight SOFR + 2.510%), 11/20/2029 | 410000 | 437315 |
| Enact Holdings, Inc.<br> 6.250%, 05/28/2029 | 570000 | 591451 |
| Enova International, Inc.<br> 9.125%, 08/01/2029 (B) | 139000 | 146336 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>6</sub>

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Active Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| Fifth Third Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;4.772%, (4.772% to 7-28-29, then SOFR Compounded Index + 2.127%), 07/28/2030 | $226000 | $227402 |
| &nbsp;&nbsp;&nbsp;5.631%, (5.631% to 1-29-31, then Overnight SOFR + 1.840%), 01/29/2032 | 343000 | 356954 |
| &nbsp;&nbsp;&nbsp;7.590%, (3 month CME Term SOFR + 3.295%), 07/27/2025 (A)(D) | 355000 | 357142 |
| First Citizens BancShares, Inc.<br> 5.231%, (5.231% to 3-12-30, then Overnight SOFR + 1.410%), 03/12/2031 | 539000 | 541849 |
| First Horizon Corp.<br> 5.514%, (5.514% to 3-7-30, then Overnight SOFR + 1.766%), 03/07/2031 | 323000 | 327654 |
| GA Global Funding Trust<br> 5.200%, 12/09/2031 (B) | 378000 | 378362 |
| Global Atlantic Financial Company |  |  |
| &nbsp;&nbsp;&nbsp;4.700%, (4.700% to 10-15-26, then 5 Year CMT + 3.796%), 10/15/2051 (B) | 384000 | 376956 |
| &nbsp;&nbsp;&nbsp;7.950%, (7.950% to 10-15-29, then 5 Year CMT + 3.608%), 10/15/2054 (B) | 162000 | 168655 |
| HPS Corporate Lending Fund<br> 5.950%, 04/14/2032 | 218000 | 216612 |
| Huntington Bancshares, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.272%, (5.272% to 1-15-30, then Overnight SOFR + 1.276%), 01/15/2031 | 330000 | 338117 |
| &nbsp;&nbsp;&nbsp;6.141%, (6.141% to 11-18-34, then 5 Year CMT + 1.700%), 11/18/2039 | 169000 | 172278 |
| &nbsp;&nbsp;&nbsp;6.208%, (6.208% to 8-21-28, then Overnight SOFR + 2.020%), 08/21/2029 | 249000 | 261280 |
| ING Groep NV<br> 6.114%, (6.114% to 9-11-33, then Overnight SOFR + 2.090%), 09/11/2034 | 200000 | 212615 |
| Jefferies Financial Group, Inc.<br> 6.200%, 04/14/2034 | 470000 | 491628 |
| JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;2.522%, (2.522% to 4-22-30, then Overnight SOFR + 2.040%), 04/22/2031 | 401000 | 366632 |
| &nbsp;&nbsp;&nbsp;2.956%, (2.956% to 5-13-30, then 3 month CME Term SOFR + 2.515%), 05/13/2031 | 767000 | 709245 |
| &nbsp;&nbsp;&nbsp;4.452%, (4.452% to 12-5-28, then 3 month CME Term SOFR + 1.592%), 12/05/2029 | 169000 | 169317 |
| &nbsp;&nbsp;&nbsp;4.603%, (4.603% to 10-22-29, then Overnight SOFR + 1.040%), 10/22/2030 | 586000 | 588002 |
| &nbsp;&nbsp;&nbsp;4.995%, (4.995% to 7-22-29, then Overnight SOFR + 1.125%), 07/22/2030 | 582000 | 592629 |
| &nbsp;&nbsp;&nbsp;5.012%, (5.012% to 1-23-29, then Overnight SOFR + 1.310%), 01/23/2030 | 568000 | 578484 |
| &nbsp;&nbsp;&nbsp;5.294%, (5.294% to 7-22-34, then Overnight SOFR + 1.460%), 07/22/2035 | 582000 | 592256 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| JPMorgan Chase & Co. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;5.502%, (5.502% to 1-24-35, then Overnight SOFR + 1.315%), 01/24/2036 | $520000 | $535599 |
| &nbsp;&nbsp;&nbsp;5.581%, (5.581% to 4-22-29, then Overnight SOFR + 1.160%), 04/22/2030 | 400000 | 415343 |
| KeyCorp<br> 5.121%, (5.121% to 4-4-30, then SOFR Compounded Index + 1.227%), 04/04/2031 | 556000 | 562636 |
| Lazard Group LLC<br> 4.375%, 03/11/2029 | 552000 | 545435 |
| Liberty Mutual Group, Inc.<br> 4.125%, (4.125% to 12-15-26, then 5 Year CMT + 3.315%), 12/15/2051 (B) | 203000 | 197681 |
| Lloyds Banking Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;6.068%, (6.068% to 6-13-35, then 1 Year CMT + 1.600%), 06/13/2036 | 228000 | 234407 |
| &nbsp;&nbsp;&nbsp;6.750%, (6.750% to 9-27-31, then 5 Year CMT + 3.150%), 09/27/2031 (D) | 342000 | 334640 |
| M&T Bank Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, (5.125% to 11-1-26, then 3 month CME Term SOFR + 3.782%), 11/01/2026 (D) | 116000 | 115393 |
| &nbsp;&nbsp;&nbsp;5.179%, (5.179% to 7-8-30, then Overnight SOFR + 1.400%), 07/08/2031 | 275000 | 279555 |
| &nbsp;&nbsp;&nbsp;5.385%, (5.385% to 1-16-35, then Overnight SOFR + 1.610%), 01/16/2036 | 434000 | 432492 |
| Macquarie Airfinance Holdings, Ltd.<br> 5.150%, 03/17/2030 (B) | 130000 | 129913 |
| Macquarie Bank, Ltd.<br> 3.624%, 06/03/2030 (B) | 307000 | 288466 |
| MassMutual Global Funding II<br> 4.350%, 09/17/2031 (B) | 456000 | 449469 |
| MetLife, Inc.<br> 6.400%, (6.400% to 12-15-36, then 3 month CME Term SOFR + 2.467%), 12/15/2036 | 556000 | 582226 |
| Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;2.239%, (2.239% to 7-21-31, then Overnight SOFR + 1.178%), 07/21/2032 | 203000 | 175787 |
| &nbsp;&nbsp;&nbsp;2.484%, (2.484% to 9-16-31, then Overnight SOFR + 1.360%), 09/16/2036 | 796000 | 676389 |
| &nbsp;&nbsp;&nbsp;5.173%, (5.173% to 1-16-29, then Overnight SOFR + 1.450%), 01/16/2030 | 875000 | 893330 |
| &nbsp;&nbsp;&nbsp;5.320%, (5.320% to 7-19-34, then Overnight SOFR + 1.555%), 07/19/2035 | 700000 | 708545 |
| MSCI, Inc.<br> 3.625%, 11/01/2031 (B) | 652000 | 600727 |
| NatWest Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;7.300%, (7.300% to 5-19-35, then 5 Year CMT + 2.937%), 11/19/2034 (D) | 566000 | 562779 |
| &nbsp;&nbsp;&nbsp;8.125%, (8.125% to 5-10-34, then 5 Year CMT + 3.752%), 11/10/2033 (D) | 441000 | 475686 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>7</sub>

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Active Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| OneMain Finance Corp.<br> 9.000%, 01/15/2029 | $&nbsp;&nbsp;233000 | $&nbsp;&nbsp;&nbsp;&nbsp;244337 |
| Popular, Inc.<br> 7.250%, 03/13/2028 | &nbsp;&nbsp;466000 | &nbsp;&nbsp;&nbsp;&nbsp;495085 |
| Regions Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.502%, (5.502% to 9-6-34, then Overnight SOFR + 2.060%), 09/06/2035 | &nbsp;&nbsp;838000 | &nbsp;&nbsp;&nbsp;&nbsp;840095 |
| &nbsp;&nbsp;&nbsp;5.722%, (5.722% to 6-6-29, then Overnight SOFR + 1.490%), 06/06/2030 | &nbsp;&nbsp;234000 | &nbsp;&nbsp;&nbsp;&nbsp;241676 |
| Reinsurance Group of America, Inc.<br> 6.650%, (6.650% to 9-15-35, then 5 Year CMT + 2.392%), 09/15/2055 | &nbsp;&nbsp;224000 | &nbsp;&nbsp;&nbsp;&nbsp;223262 |
| Rocket Companies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.125%, 08/01/2030 (B) | &nbsp;&nbsp;276000 | &nbsp;&nbsp;&nbsp;&nbsp;281252 |
| &nbsp;&nbsp;&nbsp;6.375%, 08/01/2033 (B) | &nbsp;&nbsp;348000 | &nbsp;&nbsp;&nbsp;&nbsp;356074 |
| SBL Holdings, Inc.<br> 5.000%, 02/18/2031 (B) | &nbsp;&nbsp;151000 | &nbsp;&nbsp;&nbsp;&nbsp;137124 |
| Sixth Street Lending Partners |  |  |
| &nbsp;&nbsp;&nbsp;5.750%, 01/15/2030 | &nbsp;&nbsp;274000 | &nbsp;&nbsp;&nbsp;&nbsp;274679 |
| &nbsp;&nbsp;&nbsp;6.125%, 07/15/2030 (B) | &nbsp;&nbsp;216000 | &nbsp;&nbsp;&nbsp;&nbsp;219946 |
| Societe Generale SA<br> 5.375%, (5.375% to 11-18-30, then 5 Year CMT + 4.514%), 11/18/2030 (B)(D) | &nbsp;&nbsp;557000 | &nbsp;&nbsp;&nbsp;&nbsp;509532 |
| Starwood Property Trust, Inc.<br> 6.000%, 04/15/2030 (B) | &nbsp;&nbsp;326000 | &nbsp;&nbsp;&nbsp;&nbsp;329730 |
| Teachers Insurance & Annuity Association of America<br> 4.270%, 05/15/2047 (B) | &nbsp;&nbsp;629000 | &nbsp;&nbsp;&nbsp;&nbsp;510631 |
| The Bank of New York Mellon Corp.<br> 4.942%, (4.942% to 2-11-30, then Overnight SOFR + 0.887%), 02/11/2031 | &nbsp;&nbsp;330000 | &nbsp;&nbsp;&nbsp;&nbsp;336986 |
| The Charles Schwab Corp.<br> 5.853%, (5.853% to 5-19-33, then Overnight SOFR + 2.500%), 05/19/2034 | &nbsp;&nbsp;334000 | &nbsp;&nbsp;&nbsp;&nbsp;354812 |
| The Goldman Sachs Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.615%, (2.615% to 4-22-31, then Overnight SOFR + 1.281%), 04/22/2032 | 1523000 | 1353723 |
| &nbsp;&nbsp;&nbsp;2.650%, (2.650% to 10-21-31, then Overnight SOFR + 1.264%), 10/21/2032 | &nbsp;&nbsp;539000 | &nbsp;&nbsp;&nbsp;&nbsp;476288 |
| The PNC Financial Services Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.812%, (4.812% to 10-21-31, then Overnight SOFR + 1.259%), 10/21/2032 | &nbsp;&nbsp;560000 | &nbsp;&nbsp;&nbsp;&nbsp;561288 |
| &nbsp;&nbsp;&nbsp;5.575%, (5.575% to 1-29-35, then Overnight SOFR + 1.394%), 01/29/2036 | &nbsp;&nbsp;378000 | &nbsp;&nbsp;&nbsp;&nbsp;389593 |
| &nbsp;&nbsp;&nbsp;5.939%, (5.939% to 8-18-33, then Overnight SOFR + 1.946%), 08/18/2034 | &nbsp;&nbsp;377000 | &nbsp;&nbsp;&nbsp;&nbsp;398820 |
| &nbsp;&nbsp;&nbsp;6.250%, (6.250% to 3-15-30, then 7 Year CMT + 2.808%), 03/15/2030 (D) | &nbsp;&nbsp;440000 | &nbsp;&nbsp;&nbsp;&nbsp;452420 |
| TrueNoord Capital DAC<br> 8.750%, 03/01/2030 (B) | &nbsp;&nbsp;235000 | &nbsp;&nbsp;&nbsp;&nbsp;244015 |
| Truist Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.153%, (5.153% to 8-5-31, then Overnight SOFR + 1.571%), 08/05/2032 | &nbsp;&nbsp;560000 | &nbsp;&nbsp;&nbsp;&nbsp;570884 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| Truist Financial Corp. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;5.867%, (5.867% to 6-8-33, then Overnight SOFR + 2.361%), 06/08/2034 | $1200000 | $&nbsp;&nbsp;&nbsp;1253628 |
| &nbsp;&nbsp;&nbsp;7.161%, (7.161% to 10-30-28, then Overnight SOFR + 2.446%), 10/30/2029 | &nbsp;&nbsp;265000 | &nbsp;&nbsp;&nbsp;&nbsp;286647 |
| Trust Fibra Uno<br> 7.375%, 02/13/2034 (B) | &nbsp;&nbsp;554000 | &nbsp;&nbsp;&nbsp;&nbsp;563886 |
| U.S. Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;4.839%, (4.839% to 2-1-33, then Overnight SOFR + 1.600%), 02/01/2034 | &nbsp;&nbsp;655000 | &nbsp;&nbsp;&nbsp;&nbsp;646760 |
| &nbsp;&nbsp;&nbsp;5.083%, (5.083% to 5-15-30, then Overnight SOFR + 1.296%), 05/15/2031 | &nbsp;&nbsp;390000 | &nbsp;&nbsp;&nbsp;&nbsp;397816 |
| &nbsp;&nbsp;&nbsp;5.384%, (5.384% to 1-23-29, then Overnight SOFR + 1.560%), 01/23/2030 | &nbsp;&nbsp;364000 | &nbsp;&nbsp;&nbsp;&nbsp;374781 |
| &nbsp;&nbsp;&nbsp;5.836%, (5.836% to 6-10-33, then Overnight SOFR + 2.260%), 06/12/2034 | &nbsp;&nbsp;604000 | &nbsp;&nbsp;&nbsp;&nbsp;634450 |
| UBS Group AG |  |  |
| &nbsp;&nbsp;&nbsp;5.428%, (5.428% to 2-8-29, then 1 Year CMT + 1.520%), 02/08/2030 (B) | &nbsp;&nbsp;452000 | &nbsp;&nbsp;&nbsp;&nbsp;464204 |
| &nbsp;&nbsp;&nbsp;6.301%, (6.301% to 9-22-33, then 1 Year CMT + 2.000%), 09/22/2034 (B) | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;429580 |
| &nbsp;&nbsp;&nbsp;7.000%, (7.000% to 8-10-30, then 5 Year SOFR ICE Swap Rate + 3.077%), 02/10/2030 (B)(D) | &nbsp;&nbsp;368000 | &nbsp;&nbsp;&nbsp;&nbsp;366080 |
| &nbsp;&nbsp;&nbsp;7.125%, (7.125% to 2-10-35, then 5 Year SOFR ICE Swap Rate + 3.179%), 08/10/2034 (B)(D) | &nbsp;&nbsp;379000 | &nbsp;&nbsp;&nbsp;&nbsp;377442 |
| &nbsp;&nbsp;&nbsp;9.250%, (9.250% to 11-13-33, then 5 Year CMT + 4.758%), 11/13/2033 (B)(D) | &nbsp;&nbsp;467000 | &nbsp;&nbsp;&nbsp;&nbsp;540044 |
| Wells Fargo & Company |  |  |
| &nbsp;&nbsp;&nbsp;3.350%, (3.350% to 3-2-32, then Overnight SOFR + 1.500%), 03/02/2033 | 1847000 | &nbsp;&nbsp;&nbsp;1686773 |
| &nbsp;&nbsp;&nbsp;5.211%, (5.211% to 12-3-34, then Overnight SOFR + 1.380%), 12/03/2035 | &nbsp;&nbsp;420000 | &nbsp;&nbsp;&nbsp;&nbsp;421616 |
| &nbsp;&nbsp;&nbsp;5.244%, (5.244% to 1-24-30, then Overnight SOFR + 1.110%), 01/24/2031 | &nbsp;&nbsp;335000 | &nbsp;&nbsp;&nbsp;&nbsp;343656 |
| &nbsp;&nbsp;&nbsp;6.491%, (6.491% to 10-23-33, then Overnight SOFR + 2.060%), 10/23/2034 | &nbsp;&nbsp;814000 | &nbsp;&nbsp;&nbsp;&nbsp;889727 |
|  |  | 61268622 |
| **Health care – 2.2%** |  |  |
| AbbVie, Inc.<br> 5.050%, 03/15/2034 | &nbsp;&nbsp;199000 | &nbsp;&nbsp;&nbsp;&nbsp;202614 |
| Amgen, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, 03/02/2030 | &nbsp;&nbsp;609000 | &nbsp;&nbsp;&nbsp;&nbsp;627503 |
| &nbsp;&nbsp;&nbsp;5.250%, 03/02/2033 | 1233000 | &nbsp;&nbsp;&nbsp;1262620 |
| &nbsp;&nbsp;&nbsp;5.650%, 03/02/2053 | &nbsp;&nbsp;656000 | &nbsp;&nbsp;&nbsp;&nbsp;640516 |
| Cencora, Inc.<br> 2.800%, 05/15/2030 | &nbsp;&nbsp;371000 | &nbsp;&nbsp;&nbsp;&nbsp;344518 |
| Centene Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, 10/15/2030 | &nbsp;&nbsp;478000 | &nbsp;&nbsp;&nbsp;&nbsp;427103 |
| &nbsp;&nbsp;&nbsp;3.375%, 02/15/2030 | &nbsp;&nbsp;273000 | &nbsp;&nbsp;&nbsp;&nbsp;251442 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>8</sub>

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Active Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Health care (continued)** |  |  |
| DaVita, Inc.<br> 4.625%, 06/01/2030 (B) | $&nbsp;&nbsp;294000 | $&nbsp;&nbsp;&nbsp;&nbsp;281688 |
| Endo Finance Holdings, Inc.<br> 8.500%, 04/15/2031 (B)(C) | &nbsp;&nbsp;237000 | &nbsp;&nbsp;&nbsp;&nbsp;250878 |
| Fresenius Medical Care US Finance III, Inc.<br> 2.375%, 02/16/2031 (B) | &nbsp;&nbsp;868000 | &nbsp;&nbsp;&nbsp;&nbsp;750814 |
| HCA, Inc.<br> 5.450%, 04/01/2031 | &nbsp;&nbsp;464000 | &nbsp;&nbsp;&nbsp;&nbsp;478448 |
| Horizon Mutual Holdings, Inc.<br> 6.200%, 11/15/2034 (B) | &nbsp;&nbsp;566000 | &nbsp;&nbsp;&nbsp;&nbsp;557114 |
| Icon Investments Six DAC<br> 5.849%, 05/08/2029 | &nbsp;&nbsp;305000 | &nbsp;&nbsp;&nbsp;&nbsp;316408 |
| IQVIA, Inc.<br> 6.250%, 02/01/2029 | &nbsp;&nbsp;217000 | &nbsp;&nbsp;&nbsp;&nbsp;226798 |
| Regeneron Pharmaceuticals, Inc.<br> 1.750%, 09/15/2030 | &nbsp;&nbsp;669000 | &nbsp;&nbsp;&nbsp;&nbsp;581040 |
| Royalty Pharma PLC<br> 5.150%, 09/02/2029 | &nbsp;&nbsp;274000 | &nbsp;&nbsp;&nbsp;&nbsp;279607 |
| Solventum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.400%, 03/01/2029 | &nbsp;&nbsp;478000 | &nbsp;&nbsp;&nbsp;&nbsp;492228 |
| &nbsp;&nbsp;&nbsp;5.450%, 03/13/2031 | &nbsp;&nbsp;814000 | &nbsp;&nbsp;&nbsp;&nbsp;845218 |
| Star Parent, Inc.<br> 9.000%, 10/01/2030 (B) | &nbsp;&nbsp;154000 | &nbsp;&nbsp;&nbsp;&nbsp;161980 |
| Teva Pharmaceutical Finance Netherlands IV BV<br> 5.750%, 12/01/2030 | &nbsp;&nbsp;369000 | &nbsp;&nbsp;&nbsp;&nbsp;375618 |
| Universal Health Services, Inc.<br> 2.650%, 10/15/2030 | &nbsp;&nbsp;503000 | &nbsp;&nbsp;&nbsp;&nbsp;448484 |
| Varex Imaging Corp.<br> 7.875%, 10/15/2027 (B) | &nbsp;&nbsp;189000 | &nbsp;&nbsp;&nbsp;&nbsp;190698 |
| Viatris, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.700%, 06/22/2030 | &nbsp;&nbsp;901000 | &nbsp;&nbsp;&nbsp;&nbsp;802609 |
| &nbsp;&nbsp;&nbsp;4.000%, 06/22/2050 | 1615000 | &nbsp;&nbsp;&nbsp;1075823 |
|  |  | 11871769 |
| **Industrials – 3.4%** |  |  |
| AerCap Ireland Capital DAC |  |  |
| &nbsp;&nbsp;&nbsp;3.300%, 01/30/2032 | 1610000 | &nbsp;&nbsp;&nbsp;1458644 |
| &nbsp;&nbsp;&nbsp;6.500%, (6.500% to 1-31-31, then 5 Year CMT + 2.441%), 01/31/2056 | &nbsp;&nbsp;285000 | &nbsp;&nbsp;&nbsp;&nbsp;285454 |
| Aeropuertos Dominicanos Siglo XXI SA<br> 7.000%, 06/30/2034 (B) | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;312279 |
| Air Canada 2020-1 Class C Pass Through Trust<br> 10.500%, 07/15/2026 (B) | &nbsp;&nbsp;548000 | &nbsp;&nbsp;&nbsp;&nbsp;576151 |
| Allied Universal Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.875%, 06/15/2030 (B) | &nbsp;&nbsp;264000 | &nbsp;&nbsp;&nbsp;&nbsp;267581 |
| &nbsp;&nbsp;&nbsp;7.875%, 02/15/2031 (B) | &nbsp;&nbsp;699000 | &nbsp;&nbsp;&nbsp;&nbsp;730240 |
| Ambipar Lux Sarl<br> 10.875%, 02/05/2033 (B) | &nbsp;&nbsp;305000 | &nbsp;&nbsp;&nbsp;&nbsp;288245 |
| American Airlines 2016-1 Class A Pass Through Trust<br> 4.100%, 01/15/2028 | &nbsp;&nbsp;552104 | &nbsp;&nbsp;&nbsp;&nbsp;533732 |
| American Airlines 2016-3 Class A Pass Through Trust<br> 3.250%, 10/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;34678 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32499 |
| American Airlines 2017-1 Class A Pass Through Trust<br> 4.000%, 02/15/2029 | &nbsp;&nbsp;324720 | &nbsp;&nbsp;&nbsp;&nbsp;310581 |
| American Airlines 2017-1 Class AA Pass Through Trust<br> 3.650%, 02/15/2029 | &nbsp;&nbsp;424350 | &nbsp;&nbsp;&nbsp;&nbsp;410206 |
| American Airlines 2017-2 Class A Pass Through Trust<br> 3.600%, 10/15/2029 | &nbsp;&nbsp;264607 | &nbsp;&nbsp;&nbsp;&nbsp;244154 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Industrials (continued)** |  |  |
| American Airlines 2019-1 Class A Pass Through Trust<br> 3.500%, 02/15/2032 | $654383 | $591102 |
| American Airlines 2019-1 Class AA Pass Through Trust<br> 3.150%, 02/15/2032 | 488237 | 448346 |
| American Airlines 2019-1 Class B Pass Through Trust<br> 3.850%, 02/15/2028 | &nbsp;&nbsp;79461 | &nbsp;&nbsp;&nbsp;76643 |
| American Airlines 2021-1 Class A Pass Through Trust<br> 2.875%, 07/11/2034 | 482330 | 424599 |
| American Airlines 2021-1 Class B Pass Through Trust<br> 3.950%, 07/11/2030 | 456475 | 430304 |
| American Airlines, Inc.<br> 7.250%, 02/15/2028 (B) | 198000 | 202207 |
| Ashtead Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.500%, 08/11/2032 (B) | 200000 | 202546 |
| &nbsp;&nbsp;&nbsp;5.550%, 05/30/2033 (B) | 400000 | 403971 |
| BlueLinx Holdings, Inc.<br> 6.000%, 11/15/2029 (B) | 383000 | 368293 |
| British Airways 2018-1 Class A Pass Through Trust<br> 4.125%, 09/20/2031 (B) | &nbsp;&nbsp;57431 | &nbsp;&nbsp;&nbsp;54918 |
| British Airways 2020-1 Class A Pass Through Trust<br> 4.250%, 11/15/2032 (B) | 201020 | 192733 |
| British Airways 2020-1 Class B Pass Through Trust<br> 8.375%, 11/15/2028 (B) | &nbsp;&nbsp;54813 | &nbsp;&nbsp;&nbsp;57772 |
| Brundage-Bone Concrete Pumping Holdings, Inc.<br> 7.500%, 02/01/2032 (B) | 130000 | 128855 |
| Builders FirstSource, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.250%, 02/01/2032 (B) | 439000 | 406716 |
| &nbsp;&nbsp;&nbsp;6.375%, 06/15/2032 (B) | 165000 | 169582 |
| &nbsp;&nbsp;&nbsp;6.375%, 03/01/2034 (B) | 468000 | 476926 |
| &nbsp;&nbsp;&nbsp;6.750%, 05/15/2035 (B) | 146000 | 150324 |
| CIMIC Finance USA Pty, Ltd.<br> 7.000%, 03/25/2034 (B) | 262000 | 278943 |
| Cimpress PLC<br> 7.375%, 09/15/2032 (B) | 340000 | 324531 |
| Delta Air Lines, Inc.<br> 4.375%, 04/19/2028 | 300000 | 298378 |
| Efesto Bidco S.p.A Efesto US LLC<br> 7.500%, 02/15/2032 (B) | 332000 | 336152 |
| Embraer Netherlands Finance BV<br> 7.000%, 07/28/2030 (B) | 405000 | 437283 |
| EMRLD Borrower LP<br> 6.625%, 12/15/2030 (B) | 524000 | 535618 |
| Flowserve Corp.<br> 3.500%, 10/01/2030 | 327000 | 305134 |
| Global Infrastructure Solutions, Inc.<br> 5.625%, 06/01/2029 (B) | 335000 | 333769 |
| JB Poindexter & Company, Inc.<br> 8.750%, 12/15/2031 (B) | 308000 | 313451 |
| JetBlue 2019-1 Class AA Pass Through Trust<br> 2.750%, 05/15/2032 | 350400 | 306638 |
| MasTec, Inc.<br> 5.900%, 06/15/2029 | 256000 | 264805 |
| Quanta Services, Inc.<br> 5.250%, 08/09/2034 | 245000 | 248000 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>9</sub>

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Active Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Industrials (continued)** |  |  |
| The Boeing Company<br> 6.528%, 05/01/2034 | $&nbsp;&nbsp;924000 | $&nbsp;&nbsp;&nbsp;1003952 |
| TriNet Group, Inc.<br> 3.500%, 03/01/2029 (B) | &nbsp;&nbsp;104000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97734 |
| United Airlines 2016-1 Class A Pass Through Trust<br> 3.450%, 07/07/2028 | &nbsp;&nbsp;485219 | &nbsp;&nbsp;&nbsp;&nbsp;463621 |
| United Airlines 2019-1 Class A Pass Through Trust<br> 4.550%, 08/25/2031 | &nbsp;&nbsp;453886 | &nbsp;&nbsp;&nbsp;&nbsp;425701 |
| United Airlines 2020-1 Class A Pass Through Trust<br> 5.875%, 10/15/2027 | &nbsp;&nbsp;541389 | &nbsp;&nbsp;&nbsp;&nbsp;552433 |
| United Airlines 2023-1 Class A Pass Through Trust<br> 5.800%, 01/15/2036 | &nbsp;&nbsp;625731 | &nbsp;&nbsp;&nbsp;&nbsp;638250 |
| United Airlines 2024-1 Class A Pass Through Trust<br> 5.875%, 02/15/2037 | &nbsp;&nbsp;454014 | &nbsp;&nbsp;&nbsp;&nbsp;451901 |
| United Airlines 2024-1 Class AA Pass Through Trust<br> 5.450%, 02/15/2037 | &nbsp;&nbsp;493666 | &nbsp;&nbsp;&nbsp;&nbsp;498218 |
| United Airlines, Inc.<br> 4.625%, 04/15/2029 (B) | &nbsp;&nbsp;154000 | &nbsp;&nbsp;&nbsp;&nbsp;149482 |
| WESCO Distribution, Inc.<br> 6.375%, 03/15/2033 (B) | &nbsp;&nbsp;146000 | &nbsp;&nbsp;&nbsp;&nbsp;150903 |
| Williams Scotsman, Inc.<br> 6.625%, 06/15/2029 (B) | &nbsp;&nbsp;189000 | &nbsp;&nbsp;&nbsp;&nbsp;194013 |
|  |  | 18844513 |
| **Information technology – 1.9%** |  |  |
| Atlassian Corp.<br> 5.250%, 05/15/2029 | &nbsp;&nbsp;277000 | &nbsp;&nbsp;&nbsp;&nbsp;284421 |
| Broadcom, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.419%, 04/15/2033 (B) | 1332000 | &nbsp;&nbsp;&nbsp;1208029 |
| &nbsp;&nbsp;&nbsp;4.550%, 02/15/2032 | &nbsp;&nbsp;223000 | &nbsp;&nbsp;&nbsp;&nbsp;220937 |
| CDW LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.100%, 03/01/2030 | &nbsp;&nbsp;181000 | &nbsp;&nbsp;&nbsp;&nbsp;182267 |
| &nbsp;&nbsp;&nbsp;5.550%, 08/22/2034 | &nbsp;&nbsp;187000 | &nbsp;&nbsp;&nbsp;&nbsp;186483 |
| Cloud Software Group, Inc.<br> 8.250%, 06/30/2032 (B) | &nbsp;&nbsp;157000 | &nbsp;&nbsp;&nbsp;&nbsp;167084 |
| Consensus Cloud Solutions, Inc.<br> 6.500%, 10/15/2028 (B) | &nbsp;&nbsp;144000 | &nbsp;&nbsp;&nbsp;&nbsp;143267 |
| CoreWeave, Inc.<br> 9.250%, 06/01/2030 (B) | &nbsp;&nbsp;276000 | &nbsp;&nbsp;&nbsp;&nbsp;282164 |
| Dell International LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.300%, 04/01/2032 | &nbsp;&nbsp;566000 | &nbsp;&nbsp;&nbsp;&nbsp;578512 |
| &nbsp;&nbsp;&nbsp;5.400%, 04/15/2034 | &nbsp;&nbsp;858000 | &nbsp;&nbsp;&nbsp;&nbsp;873801 |
| Foundry JV Holdco LLC<br> 5.875%, 01/25/2034 (B) | &nbsp;&nbsp;877000 | &nbsp;&nbsp;&nbsp;&nbsp;891144 |
| Marvell Technology, Inc.<br> 5.950%, 09/15/2033 | &nbsp;&nbsp;268000 | &nbsp;&nbsp;&nbsp;&nbsp;283016 |
| Micron Technology, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.703%, 04/15/2032 | &nbsp;&nbsp;453000 | &nbsp;&nbsp;&nbsp;&nbsp;394059 |
| &nbsp;&nbsp;&nbsp;5.300%, 01/15/2031 | &nbsp;&nbsp;422000 | &nbsp;&nbsp;&nbsp;&nbsp;432154 |
| &nbsp;&nbsp;&nbsp;6.750%, 11/01/2029 | &nbsp;&nbsp;840000 | &nbsp;&nbsp;&nbsp;&nbsp;907964 |
| Motorola Solutions, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.300%, 11/15/2030 | &nbsp;&nbsp;786000 | &nbsp;&nbsp;&nbsp;&nbsp;697728 |
| &nbsp;&nbsp;&nbsp;2.750%, 05/24/2031 | &nbsp;&nbsp;592000 | &nbsp;&nbsp;&nbsp;&nbsp;530759 |
| Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, 02/03/2032 | &nbsp;&nbsp;377000 | &nbsp;&nbsp;&nbsp;&nbsp;386721 |
| &nbsp;&nbsp;&nbsp;5.550%, 02/06/2053 | &nbsp;&nbsp;893000 | &nbsp;&nbsp;&nbsp;&nbsp;839753 |
| Qorvo, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.375%, 04/01/2031 (B) | &nbsp;&nbsp;471000 | &nbsp;&nbsp;&nbsp;&nbsp;424730 |
| &nbsp;&nbsp;&nbsp;4.375%, 10/15/2029 | &nbsp;&nbsp;311000 | &nbsp;&nbsp;&nbsp;&nbsp;301830 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Information technology (continued)** |  |  |
| Rocket Software, Inc.<br> 9.000%, 11/28/2028 (B) | $256000 | $&nbsp;&nbsp;&nbsp;&nbsp;263886 |
| Virtusa Corp.<br> 7.125%, 12/15/2028 (B) | 114000 | &nbsp;&nbsp;&nbsp;&nbsp;108654 |
|  |  | 10589363 |
| **Materials – 1.1%** |  |  |
| Alcoa Nederland Holding BV<br> 7.125%, 03/15/2031 (B) | 128000 | &nbsp;&nbsp;&nbsp;&nbsp;134334 |
| Aris Mining Corp.<br> 8.000%, 10/31/2029 (B) | 293000 | &nbsp;&nbsp;&nbsp;&nbsp;298860 |
| Arsenal AIC Parent LLC<br> 8.000%, 10/01/2030 (B) | 211000 | &nbsp;&nbsp;&nbsp;&nbsp;225177 |
| Braskem Netherlands Finance BV<br> 4.500%, 01/31/2030 (B) | 243000 | &nbsp;&nbsp;&nbsp;&nbsp;188045 |
| Capstone Copper Corp.<br> 6.750%, 03/31/2033 (B) | 112000 | &nbsp;&nbsp;&nbsp;&nbsp;114683 |
| Cemex SAB de CV |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 07/11/2031 (B) | 486000 | &nbsp;&nbsp;&nbsp;&nbsp;448032 |
| &nbsp;&nbsp;&nbsp;5.200%, 09/17/2030 (B) | 391000 | &nbsp;&nbsp;&nbsp;&nbsp;390082 |
| Champion Iron Canada, Inc.<br> 7.875%, 07/15/2032 (B) | 407000 | &nbsp;&nbsp;&nbsp;&nbsp;412652 |
| Clydesdale Acquisition Holdings, Inc.<br> 6.875%, 01/15/2030 (B) | 335000 | &nbsp;&nbsp;&nbsp;&nbsp;342463 |
| CSN Resources SA<br> 4.625%, 06/10/2031 (B) | 450000 | &nbsp;&nbsp;&nbsp;&nbsp;353871 |
| Freeport-McMoRan, Inc.<br> 5.400%, 11/14/2034 | 454000 | &nbsp;&nbsp;&nbsp;&nbsp;461100 |
| Graphic Packaging International LLC<br> 3.500%, 03/01/2029 (B) | 198000 | &nbsp;&nbsp;&nbsp;&nbsp;186748 |
| JH North America Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, 01/31/2031 (B) | 106000 | &nbsp;&nbsp;&nbsp;&nbsp;106926 |
| &nbsp;&nbsp;&nbsp;6.125%, 07/31/2032 (B) | 159000 | &nbsp;&nbsp;&nbsp;&nbsp;161640 |
| Magnera Corp.<br> 7.250%, 11/15/2031 (B) | 638000 | &nbsp;&nbsp;&nbsp;&nbsp;601570 |
| Novelis Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.750%, 01/30/2030 (B) | 459000 | &nbsp;&nbsp;&nbsp;&nbsp;439808 |
| &nbsp;&nbsp;&nbsp;6.875%, 01/30/2030 (B) | &nbsp;&nbsp;99000 | &nbsp;&nbsp;&nbsp;&nbsp;102359 |
| Quikrete Holdings, Inc.<br> 6.375%, 03/01/2032 (B) | 306000 | &nbsp;&nbsp;&nbsp;&nbsp;314666 |
| Sasol Financing USA LLC<br> 5.500%, 03/18/2031 | 162000 | &nbsp;&nbsp;&nbsp;&nbsp;133122 |
| Toucan FinCo, Ltd.<br> 9.500%, 05/15/2030 (B) | 384000 | &nbsp;&nbsp;&nbsp;&nbsp;392532 |
|  |  | &nbsp;&nbsp;&nbsp;5808670 |
| **Real estate – 0.9%** |  |  |
| American Tower Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.550%, 07/15/2033 | 342000 | &nbsp;&nbsp;&nbsp;&nbsp;352786 |
| &nbsp;&nbsp;&nbsp;5.650%, 03/15/2033 | 342000 | &nbsp;&nbsp;&nbsp;&nbsp;356437 |
| CoStar Group, Inc.<br> 2.800%, 07/15/2030 (B) | 676000 | &nbsp;&nbsp;&nbsp;&nbsp;610794 |
| GLP Capital LP |  |  |
| &nbsp;&nbsp;&nbsp;3.250%, 01/15/2032 | 146000 | &nbsp;&nbsp;&nbsp;&nbsp;128497 |
| &nbsp;&nbsp;&nbsp;4.000%, 01/15/2030 | 262000 | &nbsp;&nbsp;&nbsp;&nbsp;251780 |
| Iron Mountain Information Management Services, Inc.<br> 5.000%, 07/15/2032 (B) | 126000 | &nbsp;&nbsp;&nbsp;&nbsp;120817 |
| Iron Mountain, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, 07/15/2030 (B) | 249000 | &nbsp;&nbsp;&nbsp;&nbsp;245594 |
| &nbsp;&nbsp;&nbsp;6.250%, 01/15/2033 (B) | 307000 | &nbsp;&nbsp;&nbsp;&nbsp;315659 |
| RHP Hotel Properties LP<br> 6.500%, 06/15/2033 (B) | &nbsp;&nbsp;73000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75098 |
| Uniti Group LP<br> 6.500%, 02/15/2029 (B) | 179000 | &nbsp;&nbsp;&nbsp;&nbsp;173009 |
| VICI Properties LP |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 02/15/2029 (B) | 296000 | &nbsp;&nbsp;&nbsp;&nbsp;286338 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>10</sub>

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Active Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Real estate (continued)** |  |  |
| VICI Properties LP (continued) |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, 12/01/2029 (B) | $515000 | $&nbsp;&nbsp;&nbsp;&nbsp;505956 |
| &nbsp;&nbsp;&nbsp;5.125%, 11/15/2031 | 655000 | &nbsp;&nbsp;&nbsp;&nbsp;655813 |
| &nbsp;&nbsp;&nbsp;5.125%, 05/15/2032 | 546000 | &nbsp;&nbsp;&nbsp;&nbsp;543990 |
| XHR LP<br> 6.625%, 05/15/2030 (B) | 215000 | &nbsp;&nbsp;&nbsp;&nbsp;219056 |
|  |  | 4841624 |
| **Utilities – 3.1%** |  |  |
| AES Panama Generation Holdings SRL<br> 4.375%, 05/31/2030 (B) | 318003 | &nbsp;&nbsp;&nbsp;&nbsp;290998 |
| Alpha Generation LLC<br> 6.750%, 10/15/2032 (B) | 189000 | &nbsp;&nbsp;&nbsp;&nbsp;194830 |
| AltaGas, Ltd.<br> 7.200%, (7.200% to 10-15-34, then 5 Year CMT + 3.573%), 10/15/2054 (B) | 209000 | &nbsp;&nbsp;&nbsp;&nbsp;209046 |
| American Electric Power Company, Inc.<br> 5.625%, 03/01/2033 | 218000 | &nbsp;&nbsp;&nbsp;&nbsp;226620 |
| Atlantica Transmision Sur SA<br> 6.875%, 04/30/2043 (B)(C) | 197252 | &nbsp;&nbsp;&nbsp;&nbsp;207647 |
| Capital Power US Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.257%, 06/01/2028 (B) | 216000 | &nbsp;&nbsp;&nbsp;&nbsp;218926 |
| &nbsp;&nbsp;&nbsp;6.189%, 06/01/2035 (B) | 365000 | &nbsp;&nbsp;&nbsp;&nbsp;376639 |
| CenterPoint Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.850%, (6.850% to 2-15-35, then 5 Year CMT + 2.946%), 02/15/2055 | 125000 | &nbsp;&nbsp;&nbsp;&nbsp;129320 |
| &nbsp;&nbsp;&nbsp;7.000%, (7.000% to 2-15-30, then 5 Year CMT + 3.254%), 02/15/2055 | 587000 | &nbsp;&nbsp;&nbsp;&nbsp;614366 |
| Constellation Energy Generation LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.125%, 01/15/2034 | 131000 | &nbsp;&nbsp;&nbsp;&nbsp;141076 |
| &nbsp;&nbsp;&nbsp;6.500%, 10/01/2053 | 261000 | &nbsp;&nbsp;&nbsp;&nbsp;280088 |
| Dominion Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.375%, 04/01/2030 | 308000 | &nbsp;&nbsp;&nbsp;&nbsp;292700 |
| &nbsp;&nbsp;&nbsp;6.875%, (6.875% to 2-1-30, then 5 Year CMT + 2.386%), 02/01/2055 | 405000 | &nbsp;&nbsp;&nbsp;&nbsp;426054 |
| &nbsp;&nbsp;&nbsp;7.000%, (7.000% to 6-1-34, then 5 Year CMT + 2.511%), 06/01/2054 | 185000 | &nbsp;&nbsp;&nbsp;&nbsp;198492 |
| Duke Energy Corp.<br> 5.750%, 09/15/2033 | 596000 | &nbsp;&nbsp;&nbsp;&nbsp;625978 |
| Electricite de France SA |  |  |
| &nbsp;&nbsp;&nbsp;5.650%, 04/22/2029 (B) | 651000 | &nbsp;&nbsp;&nbsp;&nbsp;675382 |
| &nbsp;&nbsp;&nbsp;9.125%, (9.125% to 6-15-33, then 5 Year CMT + 5.411%), 03/15/2033 (B)(D) | 621000 | &nbsp;&nbsp;&nbsp;&nbsp;700441 |
| Exelon Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, 03/15/2031 | 324000 | &nbsp;&nbsp;&nbsp;&nbsp;331875 |
| &nbsp;&nbsp;&nbsp;6.500%, (6.500% to 3-15-35, then 5 Year CMT + 1.975%), 03/15/2055 | 129000 | &nbsp;&nbsp;&nbsp;&nbsp;131214 |
| FirstEnergy Corp.<br> 2.650%, 03/01/2030 | 379000 | &nbsp;&nbsp;&nbsp;&nbsp;347990 |
| Georgia Power Company<br> 4.950%, 05/17/2033 | 340000 | &nbsp;&nbsp;&nbsp;&nbsp;342634 |
| Lightning Power LLC<br> 7.250%, 08/15/2032 (B) | 275000 | &nbsp;&nbsp;&nbsp;&nbsp;289424 |
| NextEra Energy Capital Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.250%, 06/01/2030 | 265000 | &nbsp;&nbsp;&nbsp;&nbsp;238654 |
| &nbsp;&nbsp;&nbsp;6.375%, (6.375% to 8-15-30, then 5 Year CMT + 2.053%), 08/15/2055 | 299000 | &nbsp;&nbsp;&nbsp;&nbsp;305326 |
| &nbsp;&nbsp;&nbsp;6.500%, (6.500% to 8-15-35, then 5 Year CMT + 1.979%), 08/15/2055 | 108000 | &nbsp;&nbsp;&nbsp;&nbsp;110398 |
| &nbsp;&nbsp;&nbsp;6.700%, (6.700% to 9-1-29, then 5 Year CMT + 2.364%), 09/01/2054 | 262000 | &nbsp;&nbsp;&nbsp;&nbsp;269980 |
| NiSource, Inc.<br> 3.600%, 05/01/2030 | 345000 | &nbsp;&nbsp;&nbsp;&nbsp;330916 |
| NRG Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, 02/15/2031 (B) | 335000 | &nbsp;&nbsp;&nbsp;&nbsp;308302 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Utilities (continued)** |  |  |
| NRG Energy, Inc. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 02/15/2032 (B) | 626000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;574868 |
| &nbsp;&nbsp;&nbsp;4.450%, 06/15/2029 (B) | 356000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350242 |
| &nbsp;&nbsp;&nbsp;5.750%, 07/15/2029 (B) | 216000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216278 |
| &nbsp;&nbsp;&nbsp;6.000%, 02/01/2033 (B) | 303000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;306020 |
| &nbsp;&nbsp;&nbsp;6.250%, 11/01/2034 (B) | 249000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253693 |
| &nbsp;&nbsp;&nbsp;7.000%, 03/15/2033 (B) | 497000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;545554 |
| &nbsp;&nbsp;&nbsp;10.250%, (10.250% to 3-15-28, then 5 Year CMT + 5.920%), 03/15/2028 (B)(D) | 371000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;411970 |
| Pacific Gas & Electric Company |  |  |
| &nbsp;&nbsp;&nbsp;4.950%, 07/01/2050 | 282000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227294 |
| &nbsp;&nbsp;&nbsp;5.800%, 05/15/2034 | 430000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;429913 |
| PacifiCorp<br> 7.375%, (7.375% to 9-15-30, then 5 Year CMT + 3.319%), 09/15/2055 | 399000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;414785 |
| PG&E Corp.<br> 7.375%, (7.375% to 3-15-30, then 5 Year CMT + 3.883%), 03/15/2055 | 698000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;661020 |
| Sempra |  |  |
| &nbsp;&nbsp;&nbsp;5.500%, 08/01/2033 | 428000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;436875 |
| &nbsp;&nbsp;&nbsp;6.400%, (6.400% to 10-1-34, then 5 Year CMT + 2.632%), 10/01/2054 | 422000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400616 |
| &nbsp;&nbsp;&nbsp;6.875%, (6.875% to 10-1-29, then 5 Year CMT + 2.789%), 10/01/2054 | 398000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;401359 |
| The Southern Company |  |  |
| &nbsp;&nbsp;&nbsp;5.200%, 06/15/2033 | 199000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202472 |
| &nbsp;&nbsp;&nbsp;5.700%, 03/15/2034 | 490000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;512037 |
| &nbsp;&nbsp;&nbsp;6.375%, (6.375% to 3-15-35, then 5 Year CMT + 2.069%), 03/15/2055 | 537000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;552559 |
| Vistra Corp.<br> 8.000%, (8.000% to 10-15-26, then 5 Year CMT + 6.930%), 10/15/2026 (B)(D) | 172000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176171 |
| Vistra Operations Company LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.300%, 07/15/2029 (B) | 781000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;769535 |
| &nbsp;&nbsp;&nbsp;6.875%, 04/15/2032 (B) | 228000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;238370 |
| &nbsp;&nbsp;&nbsp;6.950%, 10/15/2033 (B) | 431000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;473275 |
|  |  | &nbsp;&nbsp;&nbsp;17370222 |
| TOTAL CORPORATE BONDS (Cost $195,636,178) |  | $197940798 |
| **MUNICIPAL BONDS – 0.0%** |  |  |
| Golden State Tobacco Securitization Corp. (California)<br> 4.214%, 06/01/2050 | 231000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166372 |
| TOTAL MUNICIPAL BONDS (Cost $231,000) | TOTAL MUNICIPAL BONDS (Cost $231,000) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166372 |
| **TERM LOANS (E) – 0.3%** | **TERM LOANS (E) – 0.3%** |  |
| **Financials – 0.1%** |  |  |
| AmWINS Group, Inc., 2025 Term Loan B (1 month CME Term SOFR + 2.250%) 6.577%, 01/30/2032 | 311298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;311354 |
| **Health care – 0.0%** |  |  |
| Endo Finance Holdings, Inc., 2024 1st Lien Term Loan (1 month CME Term SOFR + 4.000%) 8.327%, 04/23/2031 | 189568 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;189141 |
| **Industrials – 0.1%** |  |  |
| GFL Environmental, Inc., 2025 Term Loan B (3 month CME Term SOFR + 2.500%) 6.824%, 03/03/2032 | 228000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227811 |
| Gloves Buyer, Inc., 2025 Term Loan (1 month CME Term SOFR + 4.000%) 8.321%, 01/17/2032 | 555000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;543206 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;771017 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>11</sub>

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Active Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **TERM LOANS (E) (continued)** | **TERM LOANS (E) (continued)** |  |
| **Information technology – 0.0%** |  |  |
| Clearwater Analytics LLC, 2025 Term Loan B (3 month CME Term SOFR + 2.250%) 6.529%, 04/21/2032 | &nbsp;&nbsp;&nbsp;&nbsp;104000 | $&nbsp;&nbsp;&nbsp;&nbsp;103870 |
| **Materials – 0.1%** |  |  |
| Quikrete Holdings, Inc., 2025 Term Loan B (1 month CME Term SOFR + 2.250%) 6.577%, 02/10/2032 | &nbsp;&nbsp;&nbsp;&nbsp;279300 | &nbsp;&nbsp;&nbsp;&nbsp;278811 |
| TOTAL TERM LOANS (Cost $1,663,457) | TOTAL TERM LOANS (Cost $1,663,457) | $1654193 |
| **COLLATERALIZED MORTGAGE OBLIGATIONS – 3.6%** | **COLLATERALIZED MORTGAGE OBLIGATIONS – 3.6%** |  |
| **Commercial and residential – 2.6%** |  |  |
| Angel Oak Mortgage Trust LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-4, Class A1,<br> 1.035%, 01/20/2065 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;192446 | &nbsp;&nbsp;&nbsp;&nbsp;162237 |
| &nbsp;&nbsp;&nbsp;Series 2024-3, Class A1 (4.800% to 2-1-28, then 5.800% thereafter),<br> 4.800%, 11/26/2068 (B) | &nbsp;&nbsp;&nbsp;&nbsp;380163 | &nbsp;&nbsp;&nbsp;&nbsp;378262 |
| Arroyo Mortgage Trust<br> Series 2021-1R, Class A1<br> 1.175%, 10/25/2048 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;125816 | &nbsp;&nbsp;&nbsp;&nbsp;113420 |
| BAHA Trust<br> Series 2024-MAR, Class A<br> 6.171%, 12/10/2041 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;554000 | &nbsp;&nbsp;&nbsp;&nbsp;573521 |
| BAMLL Commercial Mortgage Securities Trust<br> Series 2019-BPR, Class ENM<br> 3.843%, 11/05/2032 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;116000 | &nbsp;&nbsp;&nbsp;&nbsp;90689 |
| BANK<br> Series 2021-BN34, Class XA IO<br> 1.067%, 06/15/2063 | 12625528 | &nbsp;&nbsp;&nbsp;&nbsp;510653 |
| BBCMS Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-C6, Class A2,<br> 2.690%, 02/15/2053 | &nbsp;&nbsp;&nbsp;&nbsp;72229 | &nbsp;&nbsp;&nbsp;&nbsp;67726 |
| &nbsp;&nbsp;&nbsp;Series 2024-5C29, Class A3,<br> 5.208%, 09/15/2057 | &nbsp;&nbsp;&nbsp;&nbsp;151000 | &nbsp;&nbsp;&nbsp;&nbsp;153995 |
| &nbsp;&nbsp;&nbsp;Series 2024-5C31, Class A3,<br> 5.609%, 12/15/2057 | &nbsp;&nbsp;&nbsp;&nbsp;158000 | &nbsp;&nbsp;&nbsp;&nbsp;163775 |
| Benchmark Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-B12, Class A2,<br> 3.001%, 08/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp;171253 | &nbsp;&nbsp;&nbsp;&nbsp;167982 |
| &nbsp;&nbsp;&nbsp;Series 2024-V12, Class A3,<br> 5.738%, 12/15/2057 | &nbsp;&nbsp;&nbsp;&nbsp;523000 | &nbsp;&nbsp;&nbsp;&nbsp;544724 |
| BMO Mortgage Trust<br> Series 2024-5C8, Class A3<br> 5.625%, 12/15/2057 (F) | &nbsp;&nbsp;&nbsp;&nbsp;163000 | &nbsp;&nbsp;&nbsp;&nbsp;169145 |
| BRAVO Residential Funding Trust<br> Series 2021-NQM1, Class A1<br> 0.941%, 02/25/2049 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;119162 | &nbsp;&nbsp;&nbsp;&nbsp;111380 |
| BX Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-OC11, Class A,<br> 3.202%, 12/09/2041 (B) | &nbsp;&nbsp;&nbsp;&nbsp;229000 | &nbsp;&nbsp;&nbsp;&nbsp;213516 |
| &nbsp;&nbsp;&nbsp;Series 2019-OC11, Class D,<br> 4.075%, 12/09/2041 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;280443 |
| &nbsp;&nbsp;&nbsp;Series 2022-CLS, Class A,<br> 5.760%, 10/13/2027 (B) | &nbsp;&nbsp;&nbsp;&nbsp;267000 | &nbsp;&nbsp;&nbsp;&nbsp;270265 |
| CHL Mortgage Pass-Through Trust<br> Series 2004-HYB2, Class 4A<br> 6.722%, 07/20/2034 (F) | &nbsp;&nbsp;&nbsp;&nbsp;240121 | &nbsp;&nbsp;&nbsp;&nbsp;236037 |
| Citigroup Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-C7, Class XA IO,<br> 0.945%, 12/15/2072 | 14382502 | &nbsp;&nbsp;&nbsp;&nbsp;456712 |
| &nbsp;&nbsp;&nbsp;Series 2023-SMRT, Class A,<br> 6.015%, 10/12/2040 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;340000 | &nbsp;&nbsp;&nbsp;&nbsp;351160 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| COLT Mortgage Loan Trust<br> Series 2021-2, Class A1<br> 0.924%, 08/25/2066 (B)(F) | $&nbsp;&nbsp;173233 | $145538 |
| COLT Trust<br> Series 2020-RPL1, Class A1<br> 1.390%, 01/25/2065 (B)(F) | &nbsp;&nbsp;340263 | 293180 |
| Commercial Mortgage Trust (Citigroup/Deutsche Bank AG)<br> Series 2018-COR3, Class XA IO<br> 0.577%, 05/10/2051 | 4960315 | &nbsp;&nbsp;&nbsp;52590 |
| Credit Suisse Mortgage<br> Capital Certificates |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM2, Class A1,<br> 1.179%, 02/25/2066 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;94311 | &nbsp;&nbsp;&nbsp;84477 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM3, Class A1,<br> 1.015%, 04/25/2066 (B)(F) | &nbsp;&nbsp;129915 | 111760 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM6, Class A1,<br> 1.174%, 07/25/2066 (B)(F) | &nbsp;&nbsp;369594 | 309416 |
| DSLA Mortgage Loan Trust<br> Series 2004-AR3, Class 2A2B (1 month CME Term SOFR + 1.014%)<br> 5.332%, 07/19/2044 (A) | &nbsp;&nbsp;197083 | 187448 |
| Ellington Financial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1, Class A1,<br> 0.797%, 02/25/2066 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;47198 | &nbsp;&nbsp;&nbsp;40440 |
| &nbsp;&nbsp;&nbsp;Series 2021-2, Class A1,<br> 0.931%, 06/25/2066 (B)(F) | &nbsp;&nbsp;166329 | 138879 |
| Flagstar Mortgage Trust<br> Series 2021-1, Class A2<br> 2.500%, 02/01/2051 (B)(F) | &nbsp;&nbsp;294844 | 239975 |
| FREMF Mortgage Trust<br> Series 2019-KF69, Class B (30 day Average SOFR + 2.414%)<br> 6.726%, 08/25/2029 (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;87868 | &nbsp;&nbsp;&nbsp;84181 |
| GCAT Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM1, Class A1,<br> 0.874%, 01/25/2066 (B)(F) | &nbsp;&nbsp;104213 | &nbsp;&nbsp;&nbsp;93021 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM2, Class A1,<br> 1.036%, 05/25/2066 (B)(F) | &nbsp;&nbsp;113192 | &nbsp;&nbsp;&nbsp;96737 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM3, Class A1,<br> 1.091%, 05/25/2066 (B)(F) | &nbsp;&nbsp;173258 | 150205 |
| GS Mortgage-Backed Securities Trust<br> Series 2021-NQM1, Class A1<br> 1.017%, 07/25/2061 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;79195 | &nbsp;&nbsp;&nbsp;71006 |
| HarborView Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2007-3, Class ES IO,<br> 0.350%, 05/19/2037 (B) | 6044673 | &nbsp;&nbsp;&nbsp;95896 |
| &nbsp;&nbsp;&nbsp;Series 2007-4, Class ES IO,<br> 0.350%, 07/19/2047 | 6222152 | &nbsp;&nbsp;&nbsp;98155 |
| &nbsp;&nbsp;&nbsp;Series 2007-6, Class ES IO,<br> 0.343%, 08/19/2037 (B) | 6689779 | 110492 |
| Hudson Yards Mortgage Trust<br> Series 2025-SPRL, Class A<br> 5.649%, 01/13/2040 (B)(F) | &nbsp;&nbsp;476000 | 490685 |
| Imperial Fund Mortgage Trust<br> Series 2021-NQM1, Class A1<br> 1.071%, 06/25/2056 (B)(F) | &nbsp;&nbsp;101893 | &nbsp;&nbsp;&nbsp;88644 |
| JPMorgan Chase Commercial Mortgage Securities Trust<br> Series 2020-NNN, Class AFX<br> 2.812%, 01/16/2037 (B) | &nbsp;&nbsp;258000 | 230913 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>12</sub>

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Active Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| MASTR Adjustable Rate<br> Mortgages Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2004-13, Class 2A1,<br> 6.833%, 04/21/2034 (F) | $&nbsp;&nbsp;&nbsp;&nbsp;38201 | $&nbsp;&nbsp;&nbsp;37688 |
| &nbsp;&nbsp;&nbsp;Series 2004-8, Class 5A1,<br> 7.363%, 08/25/2034 (F) | &nbsp;&nbsp;&nbsp;&nbsp;20267 | &nbsp;&nbsp;&nbsp;19912 |
| MFA Trust<br> Series 2021-NQM1, Class A1<br> 1.153%, 04/25/2065 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;63215 | &nbsp;&nbsp;&nbsp;59151 |
| Morgan Stanley Capital I Trust<br> Series 2019-L3, Class XA IO<br> 0.726%, 11/15/2052 | 19927058 | 451884 |
| Natixis Commercial Mortgage Securities Trust<br> Series 2018-ALXA, Class C<br> 4.460%, 01/15/2043 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;98000 | &nbsp;&nbsp;&nbsp;90310 |
| NXPT Commercial Mortgage Trust<br> Series 2024-STOR, Class A<br> 4.455%, 11/05/2041 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;279000 | 274176 |
| NYMT Loan Trust<br> Series 2022-CP1, Class A1<br> 2.042%, 07/25/2061 (B) | &nbsp;&nbsp;&nbsp;&nbsp;102226 | &nbsp;&nbsp;&nbsp;95816 |
| OBX Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-EXP2, Class A3,<br> 2.500%, 05/25/2060 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;83915 | &nbsp;&nbsp;&nbsp;71068 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM2, Class A1,<br> 1.101%, 05/25/2061 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;274298 | 226328 |
| Provident Funding Mortgage Trust<br> Series 2020-F1, Class A2<br> 2.000%, 01/25/2036 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;231264 | 205667 |
| ROCK Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-CNTR, Class A,<br> 5.388%, 11/13/2041 (B) | &nbsp;&nbsp;&nbsp;&nbsp;446000 | 456251 |
| &nbsp;&nbsp;&nbsp;Series 2024-CNTR, Class D,<br> 7.109%, 11/13/2041 (B) | &nbsp;&nbsp;&nbsp;&nbsp;557000 | 581704 |
| Sequoia Mortgage Trust<br> Series 2005-3, Class A1 (1 month CME Term SOFR + 0.514%)<br> 4.832%, 05/20/2035 (A) | &nbsp;&nbsp;&nbsp;&nbsp;17049 | &nbsp;&nbsp;&nbsp;15603 |
| SLG Office Trust<br> Series 2021-OVA, Class D<br> 2.851%, 07/15/2041 (B) | &nbsp;&nbsp;&nbsp;&nbsp;352000 | 301017 |
| Structured Asset Securities Corp.<br> Series 1998-RF2, Class A<br> 4.739%, 07/15/2027 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;25641 | &nbsp;&nbsp;&nbsp;25597 |
| Towd Point Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2015-6, Class M2,<br> 3.750%, 04/25/2055 (B)(F) | &nbsp;&nbsp;1000000 | 984529 |
| &nbsp;&nbsp;&nbsp;Series 2018-4, Class A1,<br> 3.000%, 06/25/2058 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;175266 | 165870 |
| &nbsp;&nbsp;&nbsp;Series 2019-1, Class A1,<br> 3.750%, 03/25/2058 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;121398 | 118099 |
| &nbsp;&nbsp;&nbsp;Series 2019-4, Class A1,<br> 2.900%, 10/25/2059 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;103819 | &nbsp;&nbsp;&nbsp;99630 |
| &nbsp;&nbsp;&nbsp;Series 2020-4, Class A1,<br> 1.750%, 10/25/2060 (B) | &nbsp;&nbsp;&nbsp;&nbsp;266997 | 241838 |
| &nbsp;&nbsp;&nbsp;Series 2024-4, Class A1A,<br> 4.435%, 10/27/2064 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;206783 | 207733 |
| VDCM Commercial Mortgage Trust<br> Series 2025-AZ, Class A<br> 5.229%, 07/13/2044 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;324000 | 324000 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| Verus Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-5, Class A1,<br> 2.218%, 05/25/2065 (B) | $&nbsp;&nbsp;&nbsp;&nbsp;42239 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40871 |
| &nbsp;&nbsp;&nbsp;Series 2021-3, Class A1,<br> 1.046%, 06/25/2066 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;191956 | &nbsp;&nbsp;&nbsp;&nbsp;168416 |
| &nbsp;&nbsp;&nbsp;Series 2021-4, Class A1,<br> 0.938%, 07/25/2066 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;115308 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95676 |
| &nbsp;&nbsp;&nbsp;Series 2021-5, Class A1,<br> 1.013%, 09/25/2066 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;164459 | &nbsp;&nbsp;&nbsp;&nbsp;141374 |
| &nbsp;&nbsp;&nbsp;Series 2021-R1, Class A1,<br> 0.820%, 10/25/2063 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;43801 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42290 |
| Washington Mutual Mortgage Pass Through Certificates<br> Series 2005-1, Class 6A1<br> 6.500%, 03/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp;148954 | &nbsp;&nbsp;&nbsp;&nbsp;130197 |
| Wells Fargo Commercial Mortgage Trust<br> Series 2025-5C4, Class A3<br> 5.673%, 05/15/2058 | &nbsp;&nbsp;&nbsp;&nbsp;319000 | &nbsp;&nbsp;&nbsp;&nbsp;332379 |
| WHARF Commercial Mortgage Trust<br> Series 2025-DC, Class A<br> 5.349%, 07/15/2040 (B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;224000 | &nbsp;&nbsp;&nbsp;&nbsp;228357 |
|  |  | 14462711 |
| **U.S. Government Agency – 1.0%** |  |  |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;Series 290, Class IO,<br> 3.500%, 11/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;426396 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33726 |
| &nbsp;&nbsp;&nbsp;Series 3387, Class SB IO,<br> 2.002%, 11/15/2037 | &nbsp;&nbsp;&nbsp;&nbsp;478079 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43188 |
| &nbsp;&nbsp;&nbsp;Series K109, Class X1 IO,<br> 1.688%, 04/25/2030 | &nbsp;&nbsp;3060405 | &nbsp;&nbsp;&nbsp;&nbsp;186243 |
| &nbsp;&nbsp;&nbsp;Series K121, Class X1 IO,<br> 1.113%, 10/25/2030 | 12540464 | &nbsp;&nbsp;&nbsp;&nbsp;532348 |
| &nbsp;&nbsp;&nbsp;Series T-41, Class 3A,<br> 4.450%, 07/25/2032 (F) | &nbsp;&nbsp;&nbsp;&nbsp;31448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28867 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;Series 2001-50, Class BA,<br> 7.000%, 10/25/2041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2244 |
| &nbsp;&nbsp;&nbsp;Series 2002-W3, Class A5,<br> 7.500%, 11/25/2041 | &nbsp;&nbsp;&nbsp;&nbsp;34238 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35929 |
| &nbsp;&nbsp;&nbsp;Series 2012-137, Class WI IO,<br> 3.500%, 12/25/2032 | &nbsp;&nbsp;&nbsp;&nbsp;371377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30855 |
| &nbsp;&nbsp;&nbsp;Series 2022-22, Class B,<br> 2.000%, 07/25/2054 | &nbsp;&nbsp;1007717 | &nbsp;&nbsp;&nbsp;&nbsp;595678 |
| Government National<br> Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;Series 2008-90, Class IO,<br> 2.016%, 12/16/2050 | &nbsp;&nbsp;1956323 | &nbsp;&nbsp;&nbsp;&nbsp;246760 |
| &nbsp;&nbsp;&nbsp;Series 2010-147, Class SA IO,<br> 1.738%, 05/20/2040 | &nbsp;&nbsp;&nbsp;&nbsp;130788 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3282 |
| &nbsp;&nbsp;&nbsp;Series 2010-85, Class SB IO,<br> 2.174%, 03/16/2040 | &nbsp;&nbsp;&nbsp;&nbsp;314397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15928 |
| &nbsp;&nbsp;&nbsp;Series 2012-114, Class IO,<br> 0.630%, 01/16/2053 | &nbsp;&nbsp;&nbsp;&nbsp;232821 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3657 |
| &nbsp;&nbsp;&nbsp;Series 2012-120, Class IO,<br> 0.645%, 02/16/2053 | &nbsp;&nbsp;2884992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43367 |
| &nbsp;&nbsp;&nbsp;Series 2015-86, Class IO,<br> 0.402%, 05/16/2052 | 19822745 | &nbsp;&nbsp;&nbsp;&nbsp;277520 |
| &nbsp;&nbsp;&nbsp;Series 2016-174, Class IO,<br> 0.888%, 11/16/2056 | &nbsp;&nbsp;&nbsp;&nbsp;284009 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11891 |
| &nbsp;&nbsp;&nbsp;Series 2017-109, Class IO,<br> 0.229%, 04/16/2057 | &nbsp;&nbsp;&nbsp;&nbsp;591142 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7543 |
| &nbsp;&nbsp;&nbsp;Series 2017-124, Class IO,<br> 0.626%, 01/16/2059 | &nbsp;&nbsp;&nbsp;&nbsp;527416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18394 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>13</sub>

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Active Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Government National<br> Mortgage Association (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2017-135, Class IO,<br> 0.697%, 10/16/2058 | $&nbsp;&nbsp;849479 | $&nbsp;&nbsp;&nbsp;27821 |
| &nbsp;&nbsp;&nbsp;Series 2017-140, Class IO,<br> 0.485%, 02/16/2059 | &nbsp;&nbsp;366541 | &nbsp;&nbsp;&nbsp;&nbsp;9997 |
| &nbsp;&nbsp;&nbsp;Series 2017-159, Class IO,<br> 0.430%, 06/16/2059 | &nbsp;&nbsp;597840 | &nbsp;&nbsp;&nbsp;15242 |
| &nbsp;&nbsp;&nbsp;Series 2017-169, Class IO,<br> 0.523%, 01/16/2060 | 1619460 | &nbsp;&nbsp;&nbsp;45545 |
| &nbsp;&nbsp;&nbsp;Series 2017-20, Class IO,<br> 0.517%, 12/16/2058 | 1336708 | &nbsp;&nbsp;&nbsp;30240 |
| &nbsp;&nbsp;&nbsp;Series 2017-22, Class IO,<br> 0.775%, 12/16/2057 | &nbsp;&nbsp;167851 | &nbsp;&nbsp;&nbsp;&nbsp;6189 |
| &nbsp;&nbsp;&nbsp;Series 2017-41, Class IO,<br> 0.561%, 07/16/2058 | &nbsp;&nbsp;427046 | &nbsp;&nbsp;&nbsp;11342 |
| &nbsp;&nbsp;&nbsp;Series 2017-46, Class IO,<br> 0.652%, 11/16/2057 | &nbsp;&nbsp;526935 | &nbsp;&nbsp;&nbsp;19898 |
| &nbsp;&nbsp;&nbsp;Series 2017-61, Class IO,<br> 0.700%, 05/16/2059 | &nbsp;&nbsp;206976 | &nbsp;&nbsp;&nbsp;&nbsp;7478 |
| &nbsp;&nbsp;&nbsp;Series 2018-158, Class IO,<br> 0.795%, 05/16/2061 | 1523567 | &nbsp;&nbsp;&nbsp;90263 |
| &nbsp;&nbsp;&nbsp;Series 2018-35, Class IO,<br> 0.542%, 03/16/2060 | 1337599 | &nbsp;&nbsp;&nbsp;43256 |
| &nbsp;&nbsp;&nbsp;Series 2018-43, Class IO,<br> 0.455%, 05/16/2060 | &nbsp;&nbsp;992326 | &nbsp;&nbsp;&nbsp;31872 |
| &nbsp;&nbsp;&nbsp;Series 2018-69, Class IO,<br> 0.608%, 04/16/2060 | &nbsp;&nbsp;345389 | &nbsp;&nbsp;&nbsp;15604 |
| &nbsp;&nbsp;&nbsp;Series 2018-81, Class IO,<br> 0.486%, 01/16/2060 | &nbsp;&nbsp;262713 | &nbsp;&nbsp;&nbsp;10873 |
| &nbsp;&nbsp;&nbsp;Series 2018-9, Class IO,<br> 0.444%, 01/16/2060 | 1560003 | &nbsp;&nbsp;&nbsp;46010 |
| &nbsp;&nbsp;&nbsp;Series 2019-131, Class IO,<br> 0.803%, 07/16/2061 | 1201935 | &nbsp;&nbsp;&nbsp;68834 |
| &nbsp;&nbsp;&nbsp;Series 2020-100, Class IO,<br> 0.786%, 05/16/2062 | 1396979 | &nbsp;&nbsp;&nbsp;84055 |
| &nbsp;&nbsp;&nbsp;Series 2020-108, Class IO,<br> 0.847%, 06/16/2062 | 3038668 | 175985 |
| &nbsp;&nbsp;&nbsp;Series 2020-114, Class IO,<br> 0.800%, 09/16/2062 | 3314498 | 179737 |
| &nbsp;&nbsp;&nbsp;Series 2020-118, Class IO,<br> 0.884%, 06/16/2062 | 2363472 | 124735 |
| &nbsp;&nbsp;&nbsp;Series 2020-119, Class IO,<br> 0.607%, 08/16/2062 | 1302919 | &nbsp;&nbsp;&nbsp;60729 |
| &nbsp;&nbsp;&nbsp;Series 2020-120, Class IO,<br> 0.769%, 05/16/2062 | &nbsp;&nbsp;729823 | &nbsp;&nbsp;&nbsp;42836 |
| &nbsp;&nbsp;&nbsp;Series 2020-137, Class IO,<br> 0.797%, 09/16/2062 | 3505251 | 203449 |
| &nbsp;&nbsp;&nbsp;Series 2020-143, Class IB IO,<br> 0.883%, 03/16/2062 | 4029379 | 255953 |
| &nbsp;&nbsp;&nbsp;Series 2020-150, Class IO,<br> 0.965%, 12/16/2062 | 2131950 | 149953 |
| &nbsp;&nbsp;&nbsp;Series 2020-170, Class IO,<br> 0.835%, 11/16/2062 | 2829031 | 183310 |
| &nbsp;&nbsp;&nbsp;Series 2020-28, Class IO,<br> 0.822%, 11/16/2061 | 5043658 | 286328 |
| &nbsp;&nbsp;&nbsp;Series 2020-92, Class IO,<br> 0.881%, 02/16/2062 | 3221250 | 185696 |
| &nbsp;&nbsp;&nbsp;Series 2021-3, Class IO,<br> 0.870%, 09/16/2062 | 3543365 | 227083 |
| &nbsp;&nbsp;&nbsp;Series 2021-40, Class IO,<br> 0.822%, 02/16/2063 | &nbsp;&nbsp;870048 | &nbsp;&nbsp;&nbsp;53704 |
| &nbsp;&nbsp;&nbsp;Series 2022-150, Class IO,<br> 0.822%, 06/16/2064 | &nbsp;&nbsp;299024 | &nbsp;&nbsp;&nbsp;17341 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Government National<br> Mortgage Association (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-17, Class IO,<br> 0.802%, 06/16/2064 | 1934321 | $&nbsp;&nbsp;&nbsp;&nbsp;112662 |
| &nbsp;&nbsp;&nbsp;Series 2022-181, Class IO,<br> 0.719%, 07/16/2064 | &nbsp;&nbsp;922018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56469 |
| &nbsp;&nbsp;&nbsp;Series 2022-21, Class IO,<br> 0.785%, 10/16/2063 | &nbsp;&nbsp;853428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47973 |
| &nbsp;&nbsp;&nbsp;Series 2023-177, Class IO,<br> 0.859%, 06/16/2065 | 1986726 | &nbsp;&nbsp;&nbsp;&nbsp;121714 |
| &nbsp;&nbsp;&nbsp;Series 2023-197, Class IO,<br> 1.241%, 09/16/2065 | &nbsp;&nbsp;601500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51263 |
| &nbsp;&nbsp;&nbsp;Series 2023-30, Class IO,<br> 1.001%, 11/16/2064 | 1220427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83394 |
| &nbsp;&nbsp;&nbsp;Series 2024-179, Class XI IO,<br> 0.831%, 12/16/2066 | 4509235 | &nbsp;&nbsp;&nbsp;&nbsp;329254 |
|  |  | &nbsp;&nbsp;&nbsp;5631507 |
| TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $24,108,855) | TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $24,108,855) | $20094218 |
| **ASSET-BACKED SECURITIES – 4.8%** | **ASSET-BACKED SECURITIES – 4.8%** |  |
| ABPCI Direct Lending Fund I, Ltd.<br> Series 2020-1A, Class A<br> 3.199%, 12/29/2030 (B) | &nbsp;&nbsp;&nbsp;&nbsp;79976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78743 |
| AIMCO CLO, Ltd.<br> Series 2019-10A, Class ARR (3 month CME Term SOFR + 1.410%)<br> 5.682%, 07/22/2037 (A)(B) | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;250611 |
| Aligned Data Centers Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2<br> 1.937%, 08/15/2046 (B) | &nbsp;&nbsp;122000 | &nbsp;&nbsp;&nbsp;&nbsp;117917 |
| &nbsp;&nbsp;&nbsp;Series 2023-2A, Class A2<br> 6.500%, 11/16/2048 (B) | &nbsp;&nbsp;193000 | &nbsp;&nbsp;&nbsp;&nbsp;196939 |
| AMSR Trust<br> Series 2025-SFR1, Class A<br> 3.655%, 06/17/2042 (B) | &nbsp;&nbsp;177000 | &nbsp;&nbsp;&nbsp;&nbsp;168924 |
| Aqua Finance Trust<br> Series 2021-A, Class A<br> 1.540%, 07/17/2046 (B) | &nbsp;&nbsp;&nbsp;&nbsp;62641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57642 |
| Arby's Funding LLC<br> Series 2020-1A, Class A2<br> 3.237%, 07/30/2050 (B) | &nbsp;&nbsp;452438 | &nbsp;&nbsp;&nbsp;&nbsp;431562 |
| Centex Home Equity Loan Trust<br> Series 2005-A, Class M4 (1 month CME Term SOFR + 1.314%)<br> 5.634%, 01/25/2035 (A) | &nbsp;&nbsp;156736 | &nbsp;&nbsp;&nbsp;&nbsp;150774 |
| CF Hippolyta Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-1, Class A1<br> 1.690%, 07/15/2060 (B) | &nbsp;&nbsp;393061 | &nbsp;&nbsp;&nbsp;&nbsp;388854 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A1<br> 1.530%, 03/15/2061 (B) | &nbsp;&nbsp;361900 | &nbsp;&nbsp;&nbsp;&nbsp;348192 |
| CLI Funding IX LLC<br> Series 2025-1A, Class A<br> 5.350%, 06/20/2050 (B) | &nbsp;&nbsp;354000 | &nbsp;&nbsp;&nbsp;&nbsp;356784 |
| CLI Funding VI LLC<br> Series 2020-1A, Class A<br> 2.080%, 09/18/2045 (B) | &nbsp;&nbsp;320472 | &nbsp;&nbsp;&nbsp;&nbsp;297690 |
| CLI Funding VIII LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A<br> 1.640%, 02/18/2046 (B) | &nbsp;&nbsp;251107 | &nbsp;&nbsp;&nbsp;&nbsp;230206 |
| &nbsp;&nbsp;&nbsp;Series 2022-1A, Class A<br> 2.720%, 01/18/2047 (B) | &nbsp;&nbsp;589587 | &nbsp;&nbsp;&nbsp;&nbsp;538004 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>14</sub>

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Active Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET-BACKED SECURITIES (continued)** | **ASSET-BACKED SECURITIES (continued)** |  |
| Compass Datacenters Issuer II LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-1A, Class A1<br> 5.250%, 02/25/2049 (B) | $&nbsp;&nbsp;380000 | $&nbsp;&nbsp;&nbsp;&nbsp;382028 |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class A1<br> 5.316%, 05/25/2050 (B) | &nbsp;&nbsp;322000 | &nbsp;&nbsp;&nbsp;&nbsp;326592 |
| Compass Datacenters Issuer III LLC<br> Series 2025-2A, Class A2<br> 5.835%, 02/25/2050 (B) | &nbsp;&nbsp;175000 | &nbsp;&nbsp;&nbsp;&nbsp;176925 |
| Consolidated Communications LLC<br> Series 2025-1A, Class A2<br> 6.000%, 05/20/2055 (B) | &nbsp;&nbsp;392000 | &nbsp;&nbsp;&nbsp;&nbsp;404223 |
| ContiMortgage Home Equity Loan Trust<br> Series 1995-2, Class A5<br> 8.100%, 08/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;5209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3502 |
| CyrusOne Data Centers Issuer I LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2023-1A, Class A2<br> 4.300%, 04/20/2048 (B) | &nbsp;&nbsp;607000 | &nbsp;&nbsp;&nbsp;&nbsp;592260 |
| &nbsp;&nbsp;&nbsp;Series 2024-2A, Class A2<br> 4.500%, 05/20/2049 (B) | &nbsp;&nbsp;571000 | &nbsp;&nbsp;&nbsp;&nbsp;556029 |
| DataBank Issuer<br> Series 2021-1A, Class A2<br> 2.060%, 02/27/2051 (B) | &nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;220092 |
| DB Master Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2017-1A, Class A2II<br> 4.030%, 11/20/2047 (B) | &nbsp;&nbsp;184573 | &nbsp;&nbsp;&nbsp;&nbsp;182601 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2II<br> 2.493%, 11/20/2051 (B) | &nbsp;&nbsp;965000 | &nbsp;&nbsp;&nbsp;&nbsp;893525 |
| Diamond Infrastructure Funding LLC<br> Series 2021-1A, Class C<br> 3.475%, 04/15/2049 (B) | &nbsp;&nbsp;370000 | &nbsp;&nbsp;&nbsp;&nbsp;349364 |
| Domino's Pizza Master Issuer LLC<br> Series 2021-1A, Class A2I<br> 2.662%, 04/25/2051 (B) | 1302178 | 1214983 |
| Driven Brands Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-2A, Class A2<br> 3.237%, 01/20/2051 (B) | &nbsp;&nbsp;277479 | &nbsp;&nbsp;&nbsp;&nbsp;265163 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2<br> 2.791%, 10/20/2051 (B) | &nbsp;&nbsp;407709 | &nbsp;&nbsp;&nbsp;&nbsp;381021 |
| FirstKey Homes Trust<br> Series 2021-SFR1, Class D<br> 2.189%, 08/17/2038 (B) | &nbsp;&nbsp;246000 | &nbsp;&nbsp;&nbsp;&nbsp;237187 |
| GM Financial Revolving Receivables Trust<br> Series 2024-1, Class A<br> 4.980%, 12/11/2036 (B) | &nbsp;&nbsp;298000 | &nbsp;&nbsp;&nbsp;&nbsp;304588 |
| Golub Capital Partners Funding, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-1A, Class A2<br> 3.208%, 01/22/2029 (B) | &nbsp;&nbsp;&nbsp;&nbsp;83032 | &nbsp;&nbsp;&nbsp;&nbsp;82667 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2<br> 2.773%, 04/20/2029 (B) | &nbsp;&nbsp;229874 | &nbsp;&nbsp;&nbsp;&nbsp;228711 |
| HI-FI Music IP Issuer LP<br> Series 2022-1A, Class A2<br> 3.939%, 02/01/2062 (B) | &nbsp;&nbsp;483000 | &nbsp;&nbsp;&nbsp;&nbsp;471777 |
| Hotwire Funding LLC<br> Series 2024-1A, Class A2<br> 5.893%, 06/20/2054 (B) | &nbsp;&nbsp;148000 | &nbsp;&nbsp;&nbsp;&nbsp;150222 |
| Invitation Homes Trust<br> Series 2024-SFR1, Class A<br> 4.000%, 09/17/2041 (B) | &nbsp;&nbsp;588991 | &nbsp;&nbsp;&nbsp;&nbsp;573910 |
| Jersey Mike's Funding LLC<br> Series 2024-1A, Class A2<br> 5.636%, 02/15/2055 (B) | &nbsp;&nbsp;449873 | &nbsp;&nbsp;&nbsp;&nbsp;456893 |
| MetroNet Infrastructure Issuer LLC<br> Series 2023-1A, Class A2<br> 6.560%, 04/20/2053 (B) | &nbsp;&nbsp;205000 | &nbsp;&nbsp;&nbsp;&nbsp;209861 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET-BACKED SECURITIES (continued)** | **ASSET-BACKED SECURITIES (continued)** |  |
| Navient Student Loan Trust<br> Series 2020-2A, Class A1A<br> 1.320%, 08/26/2069 (B) | $122242 | $107348 |
| Neighborly Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2<br> 3.584%, 04/30/2051 (B) | 532800 | 498269 |
| &nbsp;&nbsp;&nbsp;Series 2022-1A, Class A2<br> 3.695%, 01/30/2052 (B) | 246713 | 228787 |
| &nbsp;&nbsp;&nbsp;Series 2023-1A, Class A2<br> 7.308%, 01/30/2053 (B) | 488750 | 498556 |
| New Economy Assets Phase 1<br> Sponsor LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1, Class A1<br> 1.910%, 10/20/2061 (B) | 503000 | 473568 |
| &nbsp;&nbsp;&nbsp;Series 2021-1, Class B1<br> 2.410%, 10/20/2061 (B) | 389000 | 356651 |
| NRZ Excess Spread-Collateralized Notes<br> Series 2021-FHT1, Class A<br> 3.104%, 07/25/2026 (B) | &nbsp;&nbsp;36480 | &nbsp;&nbsp;&nbsp;35608 |
| Palmer Square CLO, Ltd.<br> Series 2024-2A, Class A1 (3 month CME Term SOFR + 1.400%)<br> 5.669%, 07/20/2037 (A)(B) | 271000 | 271809 |
| Progress Residential Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-SFR3, Class D<br> 4.450%, 04/17/2039 (B) | 950000 | 931020 |
| &nbsp;&nbsp;&nbsp;Series 2025-SFR1, Class A<br> 3.400%, 02/17/2042 (B) | 384000 | 363836 |
| &nbsp;&nbsp;&nbsp;Series 2025-SFR2, Class A<br> 3.305%, 04/17/2042 (B) | 260000 | 244776 |
| Renaissance Home Equity Loan Trust<br> Series 2005-2, Class AF4<br> 5.434%, 08/25/2035 | &nbsp;&nbsp;16212 | &nbsp;&nbsp;&nbsp;16168 |
| Retained Vantage Data Centers Issuer LLC<br> Series 2023-1A, Class A2A<br> 5.000%, 09/15/2048 (B) | 827000 | 819910 |
| RIN II, Ltd.<br> Series 2019-1A, Class AR (3 month CME Term SOFR + 1.480%)<br> 5.736%, 01/15/2038 (A)(B) | 278000 | 278674 |
| RIN XII LLC<br> Series 2025-1A, Class A1 (3 month CME Term SOFR + 1.300%)<br> 5.625%, 04/15/2038 (A)(B) | 291000 | 290665 |
| SERVPRO Master Issuer LLC<br> Series 2024-1A, Class A2<br> 6.174%, 01/25/2054 (B) | 242925 | 250251 |
| SMB Private Education Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-A, Class APT2<br> 1.070%, 01/15/2053 (B) | 118041 | 106254 |
| &nbsp;&nbsp;&nbsp;Series 2024-A, Class A1A<br> 5.240%, 03/15/2056 (B) | 501984 | 510434 |
| &nbsp;&nbsp;&nbsp;Series 2024-E, Class A1A<br> 5.090%, 10/16/2056 (B) | 377893 | 381568 |
| Sonic Capital LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-1A, Class A2I<br> 3.845%, 01/20/2050 (B) | 302630 | 296162 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2I<br> 2.190%, 08/20/2051 (B) | 317625 | 289973 |
| STORE Master Funding LLC<br> Series 2019-1, Class A2<br> 3.650%, 11/20/2049 (B) | 282275 | 244457 |
| Subway Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-1A, Class A2I<br> 6.028%, 07/30/2054 (B) | 263675 | 268131 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 15 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Active Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET-BACKED SECURITIES (continued)** | **ASSET-BACKED SECURITIES (continued)** |  |
| Subway Funding LLC (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-1A, Class A2II<br> 6.268%, 07/30/2054 (B) | $235815 | $&nbsp;&nbsp;&nbsp;&nbsp;241585 |
| &nbsp;&nbsp;&nbsp;Series 2024-3A, Class A23<br> 5.914%, 07/30/2054 (B) | 585060 | &nbsp;&nbsp;&nbsp;&nbsp;578708 |
| Sunbird Engine Finance LLC<br> Series 2020-1A, Class A<br> 3.671%, 02/15/2045 (B) | 132214 | &nbsp;&nbsp;&nbsp;&nbsp;128921 |
| Switch ABS Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-2A, Class A2<br> 5.436%, 06/25/2054 (B) | 168000 | &nbsp;&nbsp;&nbsp;&nbsp;169251 |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class A2<br> 5.036%, 03/25/2055 (B) | 571000 | &nbsp;&nbsp;&nbsp;&nbsp;563247 |
| TAL Advantage VII LLC<br> Series 2020-1A, Class B<br> 3.290%, 09/20/2045 (B) | 250625 | &nbsp;&nbsp;&nbsp;&nbsp;238026 |
| TIF Funding II LLC<br> Series 2021-1A, Class A<br> 1.650%, 02/20/2046 (B) | 593017 | &nbsp;&nbsp;&nbsp;&nbsp;532759 |
| Tricon American Homes Trust<br> Series 2020-SFR2, Class D<br> 2.281%, 11/17/2039 (B) | 500000 | &nbsp;&nbsp;&nbsp;&nbsp;470083 |
| Triton Container Finance VIII LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-1A, Class A<br> 2.110%, 09/20/2045 (B) | 395314 | &nbsp;&nbsp;&nbsp;&nbsp;367212 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A<br> 1.860%, 03/20/2046 (B) | 216536 | &nbsp;&nbsp;&nbsp;&nbsp;197672 |
| Uniti Fiber Issuer LLC<br> Series 2025-1A, Class A2<br> 5.877%, 04/20/2055 (B) | 224000 | &nbsp;&nbsp;&nbsp;&nbsp;229024 |
| Vantage Data Centers LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-2A, Class A2<br> 1.992%, 09/15/2045 (B) | 312000 | &nbsp;&nbsp;&nbsp;&nbsp;292946 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2<br> 2.165%, 10/15/2046 (B) | 400000 | &nbsp;&nbsp;&nbsp;&nbsp;385478 |
| VR Funding LLC<br> Series 2020-1A, Class A<br> 2.790%, 11/15/2050 (B) | 221316 | &nbsp;&nbsp;&nbsp;&nbsp;209109 |
| Wendy's Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-1A, Class A2II<br> 4.080%, 06/15/2049 (B) | 431840 | &nbsp;&nbsp;&nbsp;&nbsp;416382 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2I<br> 2.370%, 06/15/2051 (B) | 289727 | &nbsp;&nbsp;&nbsp;&nbsp;266288 |
| Willis Engine Structured Trust V<br> Series 2020-A, Class A<br> 3.228%, 03/15/2045 (B) | 117991 | &nbsp;&nbsp;&nbsp;&nbsp;112437 |
| Willis Engine Structured Trust VIII<br> Series 2025-A, Class A<br> 5.582%, 06/15/2050 (B) | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;252813 |
| Wingstop Funding LLC<br> Series 2024-1A, Class A2<br> 5.858%, 12/05/2054 (B) | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;254655 |
| Zaxby's Funding LLC<br> Series 2021-1A, Class A2<br> 3.238%, 07/30/2051 (B) | 270463 | &nbsp;&nbsp;&nbsp;&nbsp;249962 |
| Zayo Issuer LLC<br> Series 2025-1A, Class A2<br> 5.648%, 03/20/2055 (B) | 389000 | &nbsp;&nbsp;&nbsp;&nbsp;397118 |
| TOTAL ASSET-BACKED SECURITIES (Cost $26,874,485) |  | $26593517 |
| **COMMON STOCKS – 0.0%** |  |  |
| **Energy – 0.0%** |  |  |
| Altera Infrastructure LP (G) | &nbsp;&nbsp;&nbsp;&nbsp;937 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23420 |
| TOTAL COMMON STOCKS (Cost $237,385) | TOTAL COMMON STOCKS (Cost $237,385) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23420 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **PREFERRED SECURITIES – 0.0%** |  |  |
| **Communication services – 0.0%** |  |  |
| Telephone & Data Systems, Inc., 6.625% | &nbsp;&nbsp;&nbsp;5925 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114293 |
| TOTAL PREFERRED SECURITIES (Cost $148,125) | TOTAL PREFERRED SECURITIES (Cost $148,125) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114293 |
| **SHORT-TERM INVESTMENTS – 1.2%** | **SHORT-TERM INVESTMENTS – 1.2%** |  |
| **Short-term funds – 1.2%** |  |  |
| John Hancock Collateral Trust, 4.2596% (H)(I) | 685089 | &nbsp;&nbsp;&nbsp;&nbsp;6852535 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $6,852,492) | TOTAL SHORT-TERM INVESTMENTS (Cost $6,852,492) | $&nbsp;&nbsp;&nbsp;&nbsp;6852535 |
| **Total Investments (Active Bond Trust)<br> (Cost $569,941,170) – 98.9%** | **Total Investments (Active Bond Trust)<br> (Cost $569,941,170) – 98.9%** | $**550624889** |
| **Other assets and liabilities, net – 1.1%** |  | &nbsp;&nbsp;&nbsp;**6177353** |
| **TOTAL NET ASSETS – 100.0%** |  | $**556802242** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| CME | CME Group Published Rates |
| CMT | Constant Maturity Treasury |
| IBOR | Interbank Offered Rate |
| ICE | Intercontinental Exchange |
| IO | Interest-Only Security - (Interest Tranche of Stripped Mortgage Pool). Rate shown is the annualized yield at the end of the period. |
| SOFR | Secured Overnight Financing Rate |
| (A) | Variable rate obligation. The coupon rate shown represents the rate at period end. |
| (B) | This security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. Rule 144A securities amounted to $112,478,017 or 20.2% of the fund's net assets as of 6-30-25. |
| (C) | All or a portion of this security is on loan as of 6-30-25. |
| (D) | Perpetual bonds have no stated maturity date. Date shown as maturity date is next call date. |
| (E) | Term loans are variable rate obligations. The rate shown represents the rate at period end. |
| (F) | Variable or floating rate security, the interest rate of which adjusts periodically based on a weighted average of interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of period end. |
| (G) | Non-income producing security. |
| (H) | The rate shown is the annualized seven-day yield as of 6-30-25. |
| (I) | Investment is an affiliate of the fund, the advisor and/or subadvisor. A portion of this security represents the investment of cash collateral received for securities lending. Market value of this investment amounted to $1,213,727. |

---

#### Core Bond Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY OBLIGATIONS –<br> 46.5%** | **U.S. GOVERNMENT AND AGENCY OBLIGATIONS –<br> 46.5%** |  |
| **U.S. Government – 15.1%** |  |  |
| U.S. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;1.125%, 08/15/2040 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;877000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;539526 |
| &nbsp;&nbsp;&nbsp;1.375%, 11/15/2040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2691622 |
| &nbsp;&nbsp;&nbsp;1.750%, 08/15/2041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28583000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18976420 |
| &nbsp;&nbsp;&nbsp;2.000%, 11/15/2041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18874000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12980299 |
| &nbsp;&nbsp;&nbsp;2.250%, 08/15/2046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;863000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565366 |
| &nbsp;&nbsp;&nbsp;2.375%, 02/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1430000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1040325 |
| &nbsp;&nbsp;&nbsp;2.500%, 05/15/2046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7784000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5376129 |
| &nbsp;&nbsp;&nbsp;3.000%, 02/15/2048 to 02/15/2049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18288000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13557851 |
| &nbsp;&nbsp;&nbsp;3.125%, 05/15/2048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5499000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4172151 |
| &nbsp;&nbsp;&nbsp;4.625%, 02/15/2055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13148000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12798756 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 16 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Core Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** | **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** |  |
| **U.S. Government (continued)** |  |  |
| U.S. Treasury Bonds (continued) |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, 05/15/2045 | $11788000 | $&nbsp;&nbsp;&nbsp;12108486 |
| U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;0.500%, 10/31/2027 | &nbsp;&nbsp;&nbsp;&nbsp;595000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;552606 |
| &nbsp;&nbsp;&nbsp;1.875%, 02/28/2029 to 02/15/2032 | &nbsp;&nbsp;2863000 | &nbsp;&nbsp;&nbsp;&nbsp;2525358 |
| &nbsp;&nbsp;&nbsp;3.625%, 03/31/2030 | &nbsp;&nbsp;&nbsp;&nbsp;494000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;490469 |
| &nbsp;&nbsp;&nbsp;3.750%, 06/30/2027 | &nbsp;&nbsp;2749000 | &nbsp;&nbsp;&nbsp;&nbsp;2750718 |
| &nbsp;&nbsp;&nbsp;3.875%, 06/15/2028 to 06/30/2030 | 14004000 | &nbsp;&nbsp;&nbsp;14061462 |
| &nbsp;&nbsp;&nbsp;4.125%, 05/31/2032 | &nbsp;&nbsp;2908000 | &nbsp;&nbsp;&nbsp;&nbsp;2932536 |
| &nbsp;&nbsp;&nbsp;4.250%, 05/15/2035 | &nbsp;&nbsp;9170000 | &nbsp;&nbsp;&nbsp;&nbsp;9184328 |
|  |  | 117304408 |
| **U.S. Government Agency – 31.4%** |  |  |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, 11/01/2030 to 12/01/2051 | 13108813 | &nbsp;&nbsp;&nbsp;11349404 |
| &nbsp;&nbsp;&nbsp;2.500%, 10/01/2032 to 03/01/2052 | 25004063 | &nbsp;&nbsp;&nbsp;22488038 |
| &nbsp;&nbsp;&nbsp;3.000%, 04/01/2040 to 11/01/2049 | 12772897 | &nbsp;&nbsp;&nbsp;11487570 |
| &nbsp;&nbsp;&nbsp;3.102%, (1 Year Refinitiv USD IBOR Consumer Cash Fallback Rate + 1.621%), 02/01/2050 (A) | &nbsp;&nbsp;&nbsp;&nbsp;454753 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;452840 |
| &nbsp;&nbsp;&nbsp;3.951%, (30 day Average SOFR + 2.140%), 08/01/2052 (A) | &nbsp;&nbsp;&nbsp;&nbsp;464471 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;448717 |
| &nbsp;&nbsp;&nbsp;4.000%, 03/01/2050 | &nbsp;&nbsp;1513286 | &nbsp;&nbsp;&nbsp;&nbsp;1437273 |
| &nbsp;&nbsp;&nbsp;4.222%, (30 day Average SOFR + 2.305%), 05/01/2053 (A) | &nbsp;&nbsp;1318788 | &nbsp;&nbsp;&nbsp;&nbsp;1312861 |
| &nbsp;&nbsp;&nbsp;4.500%, 06/01/2039 to 07/01/2039 | &nbsp;&nbsp;&nbsp;&nbsp;62362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61065 |
| &nbsp;&nbsp;&nbsp;4.610%, (30 day Average SOFR + 2.352%), 03/01/2053 (A) | &nbsp;&nbsp;&nbsp;&nbsp;887308 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;875218 |
| &nbsp;&nbsp;&nbsp;4.841%, (30 day Average SOFR + 2.153%), 01/01/2055 (A) | &nbsp;&nbsp;&nbsp;&nbsp;725296 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;729624 |
| &nbsp;&nbsp;&nbsp;4.855%, (30 day Average SOFR + 2.246%), 06/01/2055 (A) | &nbsp;&nbsp;2306945 | &nbsp;&nbsp;&nbsp;&nbsp;2299743 |
| &nbsp;&nbsp;&nbsp;4.991%, (30 day Average SOFR + 2.258%), 02/01/2054 (A) | &nbsp;&nbsp;&nbsp;&nbsp;273066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275233 |
| &nbsp;&nbsp;&nbsp;5.020%, (30 day Average SOFR + 2.139%), 06/01/2055 (A) | &nbsp;&nbsp;&nbsp;&nbsp;433000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;435108 |
| &nbsp;&nbsp;&nbsp;5.068%, (30 day Average SOFR + 2.060%), 07/01/2055 (A) | &nbsp;&nbsp;&nbsp;&nbsp;231000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232453 |
| &nbsp;&nbsp;&nbsp;5.133%, (30 day Average SOFR + 2.225%), 06/01/2055 (A) | &nbsp;&nbsp;2065000 | &nbsp;&nbsp;&nbsp;&nbsp;2071405 |
| &nbsp;&nbsp;&nbsp;5.415%, (1 Year Refinitiv USD IBOR Consumer Cash Fallback Rate + 1.640%), 11/01/2048 (A) | &nbsp;&nbsp;&nbsp;&nbsp;268593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;274698 |
| &nbsp;&nbsp;&nbsp;5.450%, (30 day Average SOFR + 2.090%), 05/01/2055 (A) | &nbsp;&nbsp;&nbsp;&nbsp;250817 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252911 |
| &nbsp;&nbsp;&nbsp;5.500%, 05/01/2055 | &nbsp;&nbsp;3080281 | &nbsp;&nbsp;&nbsp;&nbsp;3092775 |
| &nbsp;&nbsp;&nbsp;6.000%, 09/01/2054 to 06/01/2055 | 12086753 | &nbsp;&nbsp;&nbsp;12406399 |
| &nbsp;&nbsp;&nbsp;6.500%, 09/01/2054 to 11/01/2054 | &nbsp;&nbsp;2632704 | &nbsp;&nbsp;&nbsp;&nbsp;2774173 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, 10/01/2030 to 03/01/2047 | 24132982 | &nbsp;&nbsp;&nbsp;20739397 |
| &nbsp;&nbsp;&nbsp;2.500%, 05/01/2037 to 03/01/2052 | 10416762 | &nbsp;&nbsp;&nbsp;&nbsp;9102693 |
| &nbsp;&nbsp;&nbsp;2.500%, 03/01/2052 (B) | &nbsp;&nbsp;1110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;936638 |
| &nbsp;&nbsp;&nbsp;2.755%, (1 Year Refinitiv USD IBOR Consumer Cash Fallback Rate + 1.606%), 06/01/2050 (A) | &nbsp;&nbsp;&nbsp;&nbsp;311548 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;298837 |
| &nbsp;&nbsp;&nbsp;3.000%, 05/01/2040 to 07/01/2060 | 56980362 | &nbsp;&nbsp;&nbsp;50976586 |
| &nbsp;&nbsp;&nbsp;3.500%, 06/01/2042 to 01/01/2044 | &nbsp;&nbsp;&nbsp;&nbsp;525116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;502654 |
| &nbsp;&nbsp;&nbsp;3.928%, (30 day Average SOFR + 2.120%), 08/01/2052 (A) | &nbsp;&nbsp;&nbsp;&nbsp;189305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183369 |
| &nbsp;&nbsp;&nbsp;4.000%, 01/01/2027 to 12/01/2048 | &nbsp;&nbsp;4062230 | &nbsp;&nbsp;&nbsp;&nbsp;3909217 |
| &nbsp;&nbsp;&nbsp;4.046%, 11/15/2030 (C) | &nbsp;&nbsp;2811000 | &nbsp;&nbsp;&nbsp;&nbsp;2264098 |
| &nbsp;&nbsp;&nbsp;4.072%, (30 day Average SOFR + 2.120%), 07/01/2052 (A) | &nbsp;&nbsp;&nbsp;&nbsp;648466 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;631463 |
| &nbsp;&nbsp;&nbsp;4.102%, (30 day Average SOFR + 2.120%), 09/01/2052 (A) | &nbsp;&nbsp;&nbsp;&nbsp;611679 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;610970 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** | **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Federal National<br> Mortgage Association (continued) |  |  |
| &nbsp;&nbsp;&nbsp;4.125%, (30 day Average SOFR + 2.133%), 10/01/2052 (A) | &nbsp;&nbsp;1545266 | $&nbsp;&nbsp;&nbsp;&nbsp;1538626 |
| &nbsp;&nbsp;&nbsp;4.146%, (30 day Average SOFR + 2.129%), 11/01/2052 (A) | &nbsp;&nbsp;&nbsp;&nbsp;521397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;519424 |
| &nbsp;&nbsp;&nbsp;4.350%, (30 day Average SOFR + 2.162%), 01/01/2055 (A) | &nbsp;&nbsp;&nbsp;&nbsp;642837 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;644581 |
| &nbsp;&nbsp;&nbsp;4.366%, (30 day Average SOFR + 2.125%), 07/01/2052 (A) | &nbsp;&nbsp;&nbsp;&nbsp;804539 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;801503 |
| &nbsp;&nbsp;&nbsp;4.500%, 03/01/2043 to 11/01/2048 | &nbsp;&nbsp;1837246 | &nbsp;&nbsp;&nbsp;&nbsp;1807294 |
| &nbsp;&nbsp;&nbsp;4.535%, (30 day Average SOFR + 2.330%), 04/01/2053 (A) | &nbsp;&nbsp;2201891 | &nbsp;&nbsp;&nbsp;&nbsp;2171201 |
| &nbsp;&nbsp;&nbsp;4.557%, (30 day Average SOFR + 2.300%), 12/01/2054 (A) | &nbsp;&nbsp;&nbsp;&nbsp;574358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;569727 |
| &nbsp;&nbsp;&nbsp;4.608%, (30 day Average SOFR + 2.123%), 08/01/2052 (A) | &nbsp;&nbsp;&nbsp;&nbsp;676225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;671713 |
| &nbsp;&nbsp;&nbsp;4.610%, (30 day Average SOFR + 2.126%), 08/01/2052 (A) | &nbsp;&nbsp;&nbsp;&nbsp;873865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;876568 |
| &nbsp;&nbsp;&nbsp;4.644%, (30 day Average SOFR + 2.130%), 08/01/2052 (A) | &nbsp;&nbsp;&nbsp;&nbsp;491758 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;493722 |
| &nbsp;&nbsp;&nbsp;4.671%, (30 day Average SOFR + 2.296%), 04/01/2053 (A) | &nbsp;&nbsp;2702898 | &nbsp;&nbsp;&nbsp;&nbsp;2713965 |
| &nbsp;&nbsp;&nbsp;4.941%, (30 day Average SOFR + 2.161%), 04/01/2055 (A) | &nbsp;&nbsp;&nbsp;&nbsp;519673 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;522919 |
| &nbsp;&nbsp;&nbsp;4.968%, (30 day Average SOFR + 2.310%), 05/01/2055 (A) | &nbsp;&nbsp;&nbsp;&nbsp;623577 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;623582 |
| &nbsp;&nbsp;&nbsp;5.371%, (30 day Average SOFR + 2.060%), 05/01/2055 (A) | &nbsp;&nbsp;&nbsp;&nbsp;684863 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;692186 |
| &nbsp;&nbsp;&nbsp;5.500%, TBA (B) | 14700000 | &nbsp;&nbsp;&nbsp;14692325 |
| &nbsp;&nbsp;&nbsp;5.500%, 02/01/2054 to 05/01/2055 | 15135616 | &nbsp;&nbsp;&nbsp;15243444 |
| &nbsp;&nbsp;&nbsp;6.000%, TBA (B) | &nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101613 |
| &nbsp;&nbsp;&nbsp;6.000%, 12/01/2053 to 05/01/2055 | 12269140 | &nbsp;&nbsp;&nbsp;12594330 |
| &nbsp;&nbsp;&nbsp;6.011%, (1 Year Refinitiv USD IBOR Consumer Cash Fallback Rate + 1.604%), 03/01/2050 (A) | &nbsp;&nbsp;&nbsp;&nbsp;595591 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;605029 |
| &nbsp;&nbsp;&nbsp;6.500%, 12/01/2053 to 10/01/2054 | &nbsp;&nbsp;1665242 | &nbsp;&nbsp;&nbsp;&nbsp;1752184 |
| Government National<br> Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, 12/20/2037 to 07/20/2050 | &nbsp;&nbsp;4549710 | &nbsp;&nbsp;&nbsp;&nbsp;3964776 |
| &nbsp;&nbsp;&nbsp;3.000%, 06/20/2043 to 10/20/2050 | &nbsp;&nbsp;3680081 | &nbsp;&nbsp;&nbsp;&nbsp;3294811 |
| &nbsp;&nbsp;&nbsp;4.000%, 08/20/2052 to 11/20/2054 | &nbsp;&nbsp;7641449 | &nbsp;&nbsp;&nbsp;&nbsp;7159503 |
| &nbsp;&nbsp;&nbsp;4.500%, 02/20/2049 | &nbsp;&nbsp;&nbsp;&nbsp;437791 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425234 |
| &nbsp;&nbsp;&nbsp;5.500%, TBA (B) | &nbsp;&nbsp;2800000 | &nbsp;&nbsp;&nbsp;&nbsp;2802782 |
| &nbsp;&nbsp;&nbsp;6.000%, 01/20/2053 | &nbsp;&nbsp;1219539 | &nbsp;&nbsp;&nbsp;&nbsp;1252546 |
|  |  | 243449018 |
| TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $366,409,288) | TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $366,409,288) | $360753426 |
| **FOREIGN GOVERNMENT OBLIGATIONS – 1.1%** | **FOREIGN GOVERNMENT OBLIGATIONS – 1.1%** |  |
| **Australia – 0.1%** |  |  |
| Export Finance & Insurance Corp.<br> 4.625%, 10/26/2027 (D)(E) | &nbsp;&nbsp;&nbsp;&nbsp;845000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;859719 |
| **Chile – 0.0%** |  |  |
| Republic of Chile<br> 5.650%, 01/13/2037 | &nbsp;&nbsp;&nbsp;&nbsp;369000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380107 |
| **Israel – 0.4%** |  |  |
| State of Israel |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 07/03/2050 | &nbsp;&nbsp;&nbsp;&nbsp;299000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210250 |
| &nbsp;&nbsp;&nbsp;4.500%, 01/17/2033 | &nbsp;&nbsp;&nbsp;&nbsp;408000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;389304 |
| &nbsp;&nbsp;&nbsp;5.375%, 02/19/2030 | &nbsp;&nbsp;1110000 | &nbsp;&nbsp;&nbsp;&nbsp;1131177 |
| &nbsp;&nbsp;&nbsp;5.625%, 02/19/2035 | &nbsp;&nbsp;&nbsp;&nbsp;630000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;640236 |
| &nbsp;&nbsp;&nbsp;5.750%, 03/12/2054 | &nbsp;&nbsp;&nbsp;&nbsp;427000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395199 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2766166 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 17 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Core Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **FOREIGN GOVERNMENT OBLIGATIONS (continued)** | **FOREIGN GOVERNMENT OBLIGATIONS (continued)** |  |
| **Mexico – 0.3%** |  |  |
| Government of Mexico |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, 02/12/2034 | &nbsp;&nbsp;304000 | $&nbsp;&nbsp;&nbsp;&nbsp;254752 |
| &nbsp;&nbsp;&nbsp;4.400%, 02/12/2052 | &nbsp;&nbsp;205000 | &nbsp;&nbsp;&nbsp;&nbsp;143469 |
| &nbsp;&nbsp;&nbsp;4.600%, 01/23/2046 | &nbsp;&nbsp;348000 | &nbsp;&nbsp;&nbsp;&nbsp;262249 |
| &nbsp;&nbsp;&nbsp;4.600%, 02/10/2048 | &nbsp;&nbsp;373000 | &nbsp;&nbsp;&nbsp;&nbsp;276635 |
| &nbsp;&nbsp;&nbsp;4.750%, 03/08/2044 | &nbsp;&nbsp;358000 | &nbsp;&nbsp;&nbsp;&nbsp;281442 |
| &nbsp;&nbsp;&nbsp;6.625%, 01/29/2038 (B) | 1180000 | 1197700 |
|  |  | 2416247 |
| **Paraguay – 0.1%** |  |  |
| Republic of Paraguay |  |  |
| &nbsp;&nbsp;&nbsp;5.400%, 03/30/2050 (D) | &nbsp;&nbsp;911000 | &nbsp;&nbsp;&nbsp;&nbsp;778905 |
| &nbsp;&nbsp;&nbsp;6.650%, 03/04/2055 (D) | &nbsp;&nbsp;234000 | &nbsp;&nbsp;&nbsp;&nbsp;233579 |
|  |  | 1012484 |
| **Peru – 0.1%** |  |  |
| Republic of Peru<br> 5.500%, 03/30/2036 | &nbsp;&nbsp;663000 | &nbsp;&nbsp;&nbsp;&nbsp;663431 |
| **Poland – 0.1%** |  |  |
| Bank Gospodarstwa Krajowego<br> 6.250%, 07/09/2054 (D) | &nbsp;&nbsp;763000 | &nbsp;&nbsp;&nbsp;&nbsp;756421 |
| TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $8,836,107) | TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $8,836,107) | $8854575 |
| **CORPORATE BONDS – 25.5%** | **CORPORATE BONDS – 25.5%** |  |
| **Communication services – 1.1%** |  |  |
| Alphabet, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, 05/15/2030 | &nbsp;&nbsp;490000 | &nbsp;&nbsp;&nbsp;&nbsp;490367 |
| &nbsp;&nbsp;&nbsp;4.500%, 05/15/2035 | 1063000 | 1049042 |
| &nbsp;&nbsp;&nbsp;5.250%, 05/15/2055 | &nbsp;&nbsp;373000 | &nbsp;&nbsp;&nbsp;&nbsp;367356 |
| &nbsp;&nbsp;&nbsp;5.300%, 05/15/2065 | &nbsp;&nbsp;373000 | &nbsp;&nbsp;&nbsp;&nbsp;365220 |
| AT&T, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, 06/01/2041 | &nbsp;&nbsp;248000 | &nbsp;&nbsp;&nbsp;&nbsp;194547 |
| &nbsp;&nbsp;&nbsp;3.500%, 09/15/2053 | &nbsp;&nbsp;384000 | &nbsp;&nbsp;&nbsp;&nbsp;259913 |
| &nbsp;&nbsp;&nbsp;3.550%, 09/15/2055 | &nbsp;&nbsp;384000 | &nbsp;&nbsp;&nbsp;&nbsp;259103 |
| &nbsp;&nbsp;&nbsp;3.650%, 09/15/2059 | &nbsp;&nbsp;243000 | &nbsp;&nbsp;&nbsp;&nbsp;163030 |
| &nbsp;&nbsp;&nbsp;3.800%, 12/01/2057 | &nbsp;&nbsp;338000 | &nbsp;&nbsp;&nbsp;&nbsp;236499 |
| Charter Communications Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, 06/01/2041 | &nbsp;&nbsp;133000 | &nbsp;&nbsp;&nbsp;&nbsp;96491 |
| &nbsp;&nbsp;&nbsp;3.500%, 03/01/2042 | &nbsp;&nbsp;651000 | &nbsp;&nbsp;&nbsp;&nbsp;464195 |
| &nbsp;&nbsp;&nbsp;3.900%, 06/01/2052 | &nbsp;&nbsp;189000 | &nbsp;&nbsp;&nbsp;&nbsp;129713 |
| &nbsp;&nbsp;&nbsp;5.250%, 04/01/2053 | &nbsp;&nbsp;319000 | &nbsp;&nbsp;&nbsp;&nbsp;271020 |
| &nbsp;&nbsp;&nbsp;5.500%, 04/01/2063 | &nbsp;&nbsp;136000 | &nbsp;&nbsp;&nbsp;&nbsp;114998 |
| &nbsp;&nbsp;&nbsp;6.100%, 06/01/2029 | &nbsp;&nbsp;681000 | &nbsp;&nbsp;&nbsp;&nbsp;712969 |
| Comcast Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.987%, 11/01/2063 | &nbsp;&nbsp;290000 | &nbsp;&nbsp;&nbsp;&nbsp;163064 |
| &nbsp;&nbsp;&nbsp;4.049%, 11/01/2052 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;188068 |
| &nbsp;&nbsp;&nbsp;5.350%, 05/15/2053 | &nbsp;&nbsp;420000 | &nbsp;&nbsp;&nbsp;&nbsp;389176 |
| Meta Platforms, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.400%, 08/15/2054 | &nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;146286 |
| &nbsp;&nbsp;&nbsp;5.550%, 08/15/2064 | &nbsp;&nbsp;719000 | &nbsp;&nbsp;&nbsp;&nbsp;702634 |
| Netflix, Inc.<br> 5.400%, 08/15/2054 | &nbsp;&nbsp;332000 | &nbsp;&nbsp;&nbsp;&nbsp;327644 |
| T-Mobile USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.300%, 05/15/2035 | &nbsp;&nbsp;454000 | &nbsp;&nbsp;&nbsp;&nbsp;459692 |
| &nbsp;&nbsp;&nbsp;5.875%, 11/15/2055 | &nbsp;&nbsp;271000 | &nbsp;&nbsp;&nbsp;&nbsp;270888 |
| Verizon Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.987%, 10/30/2056 | &nbsp;&nbsp;389000 | &nbsp;&nbsp;&nbsp;&nbsp;234121 |
| &nbsp;&nbsp;&nbsp;5.250%, 04/02/2035 | &nbsp;&nbsp;679000 | &nbsp;&nbsp;&nbsp;&nbsp;684657 |
|  |  | 8740693 |
| **Consumer discretionary – 1.2%** |  |  |
| Dick's Sporting Goods, Inc.<br> 4.100%, 01/15/2052 | &nbsp;&nbsp;836000 | &nbsp;&nbsp;&nbsp;&nbsp;597377 |
| Ford Motor Credit Company LLC<br> 2.900%, 02/10/2029 | 2077000 | 1888560 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Consumer discretionary (continued)** |  |  |
| General Motors Financial Company, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.700%, 06/10/2031 | $&nbsp;&nbsp;985000 | $&nbsp;&nbsp;&nbsp;&nbsp;862304 |
| &nbsp;&nbsp;&nbsp;5.350%, 01/07/2030 | &nbsp;&nbsp;276000 | &nbsp;&nbsp;&nbsp;&nbsp;279362 |
| &nbsp;&nbsp;&nbsp;5.450%, 07/15/2030 | &nbsp;&nbsp;659000 | &nbsp;&nbsp;&nbsp;&nbsp;668254 |
| Hyundai Capital America<br> 5.150%, 03/27/2030 (D) | &nbsp;&nbsp;834000 | &nbsp;&nbsp;&nbsp;&nbsp;844017 |
| Lowe's Companies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, 04/01/2051 | &nbsp;&nbsp;313000 | &nbsp;&nbsp;&nbsp;&nbsp;214384 |
| &nbsp;&nbsp;&nbsp;4.250%, 04/01/2052 | &nbsp;&nbsp;577000 | &nbsp;&nbsp;&nbsp;&nbsp;451621 |
| McDonald's Corp.<br> 6.300%, 03/01/2038 | &nbsp;&nbsp;395000 | &nbsp;&nbsp;&nbsp;&nbsp;431121 |
| The Home Depot, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, 04/15/2052 | &nbsp;&nbsp;252000 | &nbsp;&nbsp;&nbsp;&nbsp;183425 |
| &nbsp;&nbsp;&nbsp;4.750%, 06/25/2029 | &nbsp;&nbsp;394000 | &nbsp;&nbsp;&nbsp;&nbsp;402169 |
| &nbsp;&nbsp;&nbsp;4.850%, 06/25/2031 | &nbsp;&nbsp;262000 | &nbsp;&nbsp;&nbsp;&nbsp;268721 |
| Toyota Motor Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.450%, 06/30/2030 | &nbsp;&nbsp;488000 | &nbsp;&nbsp;&nbsp;&nbsp;489997 |
| &nbsp;&nbsp;&nbsp;5.053%, 06/30/2035 | &nbsp;&nbsp;464000 | &nbsp;&nbsp;&nbsp;&nbsp;468101 |
| Toyota Motor Credit Corp.<br> 4.800%, 05/15/2030 | &nbsp;&nbsp;435000 | &nbsp;&nbsp;&nbsp;&nbsp;441938 |
| Volkswagen Group of America Finance LLC<br> 5.800%, 03/27/2035 (D) | &nbsp;&nbsp;527000 | &nbsp;&nbsp;&nbsp;&nbsp;530846 |
|  |  | &nbsp;&nbsp;&nbsp;9022197 |
| **Consumer staples – 1.8%** |  |  |
| Altria Group, Inc.<br> 3.875%, 09/16/2046 | &nbsp;&nbsp;357000 | &nbsp;&nbsp;&nbsp;&nbsp;264032 |
| Anheuser-Busch Companies LLC<br> 4.700%, 02/01/2036 | 1359000 | &nbsp;&nbsp;&nbsp;1326044 |
| Anheuser-Busch InBev Worldwide, Inc.<br> 5.450%, 01/23/2039 | &nbsp;&nbsp;264000 | &nbsp;&nbsp;&nbsp;&nbsp;268537 |
| BAT Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.540%, 08/15/2047 | &nbsp;&nbsp;548000 | &nbsp;&nbsp;&nbsp;&nbsp;442686 |
| &nbsp;&nbsp;&nbsp;6.250%, 08/15/2055 | &nbsp;&nbsp;388000 | &nbsp;&nbsp;&nbsp;&nbsp;392975 |
| &nbsp;&nbsp;&nbsp;7.081%, 08/02/2053 | &nbsp;&nbsp;143000 | &nbsp;&nbsp;&nbsp;&nbsp;159281 |
| Bunge, Ltd. Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;1.630%, 08/17/2025 | &nbsp;&nbsp;266000 | &nbsp;&nbsp;&nbsp;&nbsp;264902 |
| &nbsp;&nbsp;&nbsp;4.200%, 09/17/2029 | &nbsp;&nbsp;544000 | &nbsp;&nbsp;&nbsp;&nbsp;537974 |
| Imperial Brands Finance PLC<br> 5.625%, 07/01/2035 (D) | &nbsp;&nbsp;526000 | &nbsp;&nbsp;&nbsp;&nbsp;527785 |
| JBS USA LUX SA |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, 05/15/2032 | &nbsp;&nbsp;510000 | &nbsp;&nbsp;&nbsp;&nbsp;446486 |
| &nbsp;&nbsp;&nbsp;3.625%, 01/15/2032 | &nbsp;&nbsp;687000 | &nbsp;&nbsp;&nbsp;&nbsp;628186 |
| &nbsp;&nbsp;&nbsp;5.750%, 04/01/2033 | &nbsp;&nbsp;434000 | &nbsp;&nbsp;&nbsp;&nbsp;446117 |
| &nbsp;&nbsp;&nbsp;6.375%, 04/15/2066 (D) | &nbsp;&nbsp;136000 | &nbsp;&nbsp;&nbsp;&nbsp;137002 |
| &nbsp;&nbsp;&nbsp;6.500%, 12/01/2052 | &nbsp;&nbsp;401000 | &nbsp;&nbsp;&nbsp;&nbsp;416053 |
| &nbsp;&nbsp;&nbsp;7.250%, 11/15/2053 | &nbsp;&nbsp;772000 | &nbsp;&nbsp;&nbsp;&nbsp;869173 |
| Kenvue, Inc.<br> 4.850%, 05/22/2032 | &nbsp;&nbsp;223000 | &nbsp;&nbsp;&nbsp;&nbsp;225682 |
| Ohio Edison Company<br> 4.950%, 12/15/2029 (D) | &nbsp;&nbsp;339000 | &nbsp;&nbsp;&nbsp;&nbsp;343644 |
| Philip Morris International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.125%, 04/28/2028 | 1147000 | &nbsp;&nbsp;&nbsp;1144756 |
| &nbsp;&nbsp;&nbsp;4.375%, 04/30/2030 | &nbsp;&nbsp;971000 | &nbsp;&nbsp;&nbsp;&nbsp;968651 |
| &nbsp;&nbsp;&nbsp;4.875%, 04/30/2035 | 1029000 | &nbsp;&nbsp;&nbsp;1015176 |
| &nbsp;&nbsp;&nbsp;5.000%, 11/17/2025 | &nbsp;&nbsp;548000 | &nbsp;&nbsp;&nbsp;&nbsp;548749 |
| The Coca-Cola Company<br> 5.200%, 01/14/2055 | &nbsp;&nbsp;126000 | &nbsp;&nbsp;&nbsp;&nbsp;120623 |
| The Kroger Company<br> 5.500%, 09/15/2054 | &nbsp;&nbsp;126000 | &nbsp;&nbsp;&nbsp;&nbsp;119606 |
| Walmart, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.350%, 04/28/2030 | &nbsp;&nbsp;924000 | &nbsp;&nbsp;&nbsp;&nbsp;934580 |
| &nbsp;&nbsp;&nbsp;4.900%, 04/28/2035 | 1208000 | &nbsp;&nbsp;&nbsp;1223507 |
|  |  | 13772207 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 18 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Core Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Energy – 1.6%** |  |  |
| Aker BP ASA |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, 10/01/2034 (D) | $1001000 | $&nbsp;&nbsp;&nbsp;&nbsp;961088 |
| &nbsp;&nbsp;&nbsp;5.800%, 10/01/2054 (D) | &nbsp;&nbsp;157000 | &nbsp;&nbsp;&nbsp;&nbsp;143127 |
| ConocoPhillips Company |  |  |
| &nbsp;&nbsp;&nbsp;5.500%, 01/15/2055 | &nbsp;&nbsp;359000 | &nbsp;&nbsp;&nbsp;&nbsp;340626 |
| &nbsp;&nbsp;&nbsp;5.550%, 03/15/2054 | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;191139 |
| Devon Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.200%, 09/15/2034 (E) | &nbsp;&nbsp;881000 | &nbsp;&nbsp;&nbsp;&nbsp;855571 |
| &nbsp;&nbsp;&nbsp;5.750%, 09/15/2054 | &nbsp;&nbsp;434000 | &nbsp;&nbsp;&nbsp;&nbsp;390722 |
| Diamondback Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.150%, 01/30/2030 | &nbsp;&nbsp;488000 | &nbsp;&nbsp;&nbsp;&nbsp;499134 |
| &nbsp;&nbsp;&nbsp;5.200%, 04/18/2027 | &nbsp;&nbsp;261000 | &nbsp;&nbsp;&nbsp;&nbsp;264565 |
| &nbsp;&nbsp;&nbsp;5.550%, 04/01/2035 | &nbsp;&nbsp;676000 | &nbsp;&nbsp;&nbsp;&nbsp;683339 |
| &nbsp;&nbsp;&nbsp;5.750%, 04/18/2054 | &nbsp;&nbsp;433000 | &nbsp;&nbsp;&nbsp;&nbsp;401921 |
| &nbsp;&nbsp;&nbsp;5.900%, 04/18/2064 | &nbsp;&nbsp;131000 | &nbsp;&nbsp;&nbsp;&nbsp;121245 |
| Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, 07/01/2029 | &nbsp;&nbsp;659000 | &nbsp;&nbsp;&nbsp;&nbsp;675139 |
| &nbsp;&nbsp;&nbsp;5.300%, 04/15/2047 | &nbsp;&nbsp;264000 | &nbsp;&nbsp;&nbsp;&nbsp;232855 |
| &nbsp;&nbsp;&nbsp;5.700%, 04/01/2035 | &nbsp;&nbsp;771000 | &nbsp;&nbsp;&nbsp;&nbsp;785336 |
| &nbsp;&nbsp;&nbsp;5.950%, 05/15/2054 | 1061000 | &nbsp;&nbsp;&nbsp;1009327 |
| &nbsp;&nbsp;&nbsp;6.000%, 02/01/2029 (D) | &nbsp;&nbsp;478000 | &nbsp;&nbsp;&nbsp;&nbsp;485675 |
| &nbsp;&nbsp;&nbsp;6.200%, 04/01/2055 | &nbsp;&nbsp;&nbsp;&nbsp;52000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51194 |
| Equinor ASA<br> 5.125%, 06/03/2035 | &nbsp;&nbsp;227000 | &nbsp;&nbsp;&nbsp;&nbsp;230902 |
| Galaxy Pipeline Assets Bidco, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;2.160%, 03/31/2034 (D) | &nbsp;&nbsp;541068 | &nbsp;&nbsp;&nbsp;&nbsp;479706 |
| &nbsp;&nbsp;&nbsp;2.625%, 03/31/2036 (D) | &nbsp;&nbsp;459000 | &nbsp;&nbsp;&nbsp;&nbsp;389962 |
| Kinder Morgan, Inc.<br> 5.150%, 06/01/2030 | &nbsp;&nbsp;452000 | &nbsp;&nbsp;&nbsp;&nbsp;461501 |
| ONEOK, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.050%, 11/01/2034 | &nbsp;&nbsp;136000 | &nbsp;&nbsp;&nbsp;&nbsp;132348 |
| &nbsp;&nbsp;&nbsp;5.700%, 11/01/2054 | &nbsp;&nbsp;565000 | &nbsp;&nbsp;&nbsp;&nbsp;521519 |
| &nbsp;&nbsp;&nbsp;5.850%, 11/01/2064 | &nbsp;&nbsp;105000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97344 |
| Petroleos Mexicanos<br> 2.460%, 12/15/2025 | &nbsp;&nbsp;162050 | &nbsp;&nbsp;&nbsp;&nbsp;157949 |
| Saudi Arabian Oil Company |  |  |
| &nbsp;&nbsp;&nbsp;4.750%, 06/02/2030 (D) | &nbsp;&nbsp;233000 | &nbsp;&nbsp;&nbsp;&nbsp;234139 |
| &nbsp;&nbsp;&nbsp;6.375%, 06/02/2055 (D) | 1103000 | &nbsp;&nbsp;&nbsp;1102588 |
| TotalEnergies Capital SA |  |  |
| &nbsp;&nbsp;&nbsp;5.425%, 09/10/2064 | &nbsp;&nbsp;136000 | &nbsp;&nbsp;&nbsp;&nbsp;127234 |
| &nbsp;&nbsp;&nbsp;5.638%, 04/05/2064 | &nbsp;&nbsp;130000 | &nbsp;&nbsp;&nbsp;&nbsp;126021 |
|  |  | 12153216 |
| **Financials – 7.4%** |  |  |
| American Express Company |  |  |
| &nbsp;&nbsp;&nbsp;4.731%, (4.371% to 4-25-28, then Overnight SOFR + 1.260%), 04/25/2029 | &nbsp;&nbsp;985000 | &nbsp;&nbsp;&nbsp;&nbsp;996201 |
| &nbsp;&nbsp;&nbsp;5.016%, (5.016% to 4-25-30, then Overnight SOFR + 1.440%), 04/25/2031 | &nbsp;&nbsp;914000 | &nbsp;&nbsp;&nbsp;&nbsp;933298 |
| &nbsp;&nbsp;&nbsp;5.085%, (5.085% to 1-30-30, then SOFR Compounded Index + 1.020%), 01/30/2031 | &nbsp;&nbsp;357000 | &nbsp;&nbsp;&nbsp;&nbsp;365379 |
| &nbsp;&nbsp;&nbsp;5.442%, (5.442% to 1-30-35, then SOFR Compounded Index + 1.320%), 01/30/2036 | &nbsp;&nbsp;467000 | &nbsp;&nbsp;&nbsp;&nbsp;476717 |
| &nbsp;&nbsp;&nbsp;5.667%, (5.667% to 4-25-35, then Overnight SOFR + 1.790%), 04/25/2036 | &nbsp;&nbsp;343000 | &nbsp;&nbsp;&nbsp;&nbsp;355186 |
| Apollo Debt Solutions BDC<br> 6.550%, 03/15/2032 (D) | &nbsp;&nbsp;390000 | &nbsp;&nbsp;&nbsp;&nbsp;398343 |
| Apollo Global Management, Inc.<br> 5.800%, 05/21/2054 | &nbsp;&nbsp;161000 | &nbsp;&nbsp;&nbsp;&nbsp;159001 |
| Ares Management Corp.<br> 5.600%, 10/11/2054 | &nbsp;&nbsp;394000 | &nbsp;&nbsp;&nbsp;&nbsp;371827 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| Ares Strategic Income Fund<br> 6.200%, 03/21/2032 | $&nbsp;&nbsp;520000 | $&nbsp;&nbsp;&nbsp;&nbsp;521513 |
| Bain Capital Specialty Finance, Inc.<br> 5.950%, 03/15/2030 | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;345985 |
| Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;1.734%, (1.734% to 7-22-26, then Overnight SOFR + 0.960%), 07/22/2027 | 1641000 | 1595017 |
| &nbsp;&nbsp;&nbsp;1.922%, (1.922% to 10-24-30, then Overnight SOFR + 1.370%), 10/24/2031 | &nbsp;&nbsp;228000 | &nbsp;&nbsp;&nbsp;&nbsp;198835 |
| &nbsp;&nbsp;&nbsp;2.496%, (2.496% to 2-13-30, then 3 month CME Term SOFR + 1.252%), 02/13/2031 | &nbsp;&nbsp;513000 | &nbsp;&nbsp;&nbsp;&nbsp;468555 |
| Barclays PLC<br> 5.785%, (5.785% to 2-25-35, then Overnight SOFR + 1.590%), 02/25/2036 | 1266000 | 1293963 |
| Blue Owl Credit Income Corp.<br> 6.600%, 09/15/2029 | &nbsp;&nbsp;519000 | &nbsp;&nbsp;&nbsp;&nbsp;534024 |
| BPCE SA |  |  |
| &nbsp;&nbsp;&nbsp;5.389%, (5.389% to 5-28-30, then Overnight SOFR + 1.581%), 05/28/2031 (D) | &nbsp;&nbsp;689000 | &nbsp;&nbsp;&nbsp;&nbsp;701569 |
| &nbsp;&nbsp;&nbsp;6.027%, (6.027% to 5-28-35, then Overnight SOFR + 1.956%), 05/28/2036 (D) | &nbsp;&nbsp;584000 | &nbsp;&nbsp;&nbsp;&nbsp;601607 |
| CaixaBank SA |  |  |
| &nbsp;&nbsp;&nbsp;4.634%, (4.634% to 7-3-28, then Overnight SOFR + 1.140%), 07/03/2029 (D) | &nbsp;&nbsp;862000 | &nbsp;&nbsp;&nbsp;&nbsp;864147 |
| &nbsp;&nbsp;&nbsp;4.885%, (4.885% to 7-3-30, then Overnight SOFR + 1.360%), 07/03/2031 (D) | &nbsp;&nbsp;862000 | &nbsp;&nbsp;&nbsp;&nbsp;865393 |
| &nbsp;&nbsp;&nbsp;5.581%, (5.581% to 7-3-35, then Overnight SOFR + 1.790%), 07/03/2036 (D) | &nbsp;&nbsp;519000 | &nbsp;&nbsp;&nbsp;&nbsp;524323 |
| Capital One Financial Corp.<br> 6.051%, (6.051% to 2-1-34, then Overnight SOFR + 2.260%), 02/01/2035 | 1011000 | 1053849 |
| Citibank NA |  |  |
| &nbsp;&nbsp;&nbsp;4.576%, 05/29/2027 | 1972000 | 1982831 |
| &nbsp;&nbsp;&nbsp;4.914%, 05/29/2030 | 1696000 | 1728561 |
| Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.542%, (4.542% to 9-19-29, then Overnight SOFR + 1.338%), 09/19/2030 | &nbsp;&nbsp;426000 | &nbsp;&nbsp;&nbsp;&nbsp;424069 |
| &nbsp;&nbsp;&nbsp;4.786%, (4.786% to 3-4-28, then Overnight SOFR + 0.870%), 03/04/2029 | &nbsp;&nbsp;920000 | &nbsp;&nbsp;&nbsp;&nbsp;926607 |
| &nbsp;&nbsp;&nbsp;5.333%, (5.333% to 3-27-35, then Overnight SOFR + 1.465%), 03/27/2036 | &nbsp;&nbsp;927000 | &nbsp;&nbsp;&nbsp;&nbsp;934274 |
| &nbsp;&nbsp;&nbsp;5.612%, (5.612% to 3-4-55, then Overnight SOFR + 1.746%), 03/04/2056 | &nbsp;&nbsp;631000 | &nbsp;&nbsp;&nbsp;&nbsp;619359 |
| &nbsp;&nbsp;&nbsp;5.827%, (5.827% to 2-13-34, then Overnight SOFR + 2.056%), 02/13/2035 | &nbsp;&nbsp;287000 | &nbsp;&nbsp;&nbsp;&nbsp;292845 |
| &nbsp;&nbsp;&nbsp;6.020%, (6.020% to 1-24-35, then Overnight SOFR + 1.830%), 01/24/2036 | 1422000 | 1460277 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 19 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Core Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| Citigroup, Inc. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;6.174%, (6.174% to 5-25-33, then Overnight SOFR + 2.661%), 05/25/2034 | $&nbsp;&nbsp;257000 | $&nbsp;&nbsp;&nbsp;&nbsp;269035 |
| Credit Agricole SA<br> 5.222%, (5.222% to 5-27-30, then Overnight SOFR + 1.460%), 05/27/2031 (D) | &nbsp;&nbsp;918000 | &nbsp;&nbsp;&nbsp;&nbsp;935118 |
| Deutsche Bank AG |  |  |
| &nbsp;&nbsp;&nbsp;3.742%, (3.742% to 1-7-32, then Overnight SOFR + 2.257%), 01/07/2033 | 1184000 | 1065693 |
| &nbsp;&nbsp;&nbsp;5.297%, (5.297% to 5-9-30, then Overnight SOFR + 1.720%), 05/09/2031 | &nbsp;&nbsp;739000 | &nbsp;&nbsp;&nbsp;&nbsp;750544 |
| FS KKR Capital Corp.<br> 6.125%, 01/15/2030 | &nbsp;&nbsp;743000 | &nbsp;&nbsp;&nbsp;&nbsp;737903 |
| Goldman Sachs Bank USA<br> 5.414%, (5.414% to 5-21-26, then Overnight SOFR + 0.750%), 05/21/2027 | &nbsp;&nbsp;657000 | &nbsp;&nbsp;&nbsp;&nbsp;662422 |
| Goldman Sachs Private Credit Corp.<br> 6.250%, 05/06/2030 (D) | &nbsp;&nbsp;527000 | &nbsp;&nbsp;&nbsp;&nbsp;534165 |
| HSBC Holdings PLC |  |  |
| &nbsp;&nbsp;&nbsp;4.899%, (4.899% to 3-3-28, then Overnight SOFR + 1.030%), 03/03/2029 | 1114000 | 1123435 |
| &nbsp;&nbsp;&nbsp;5.130%, (5.130% to 3-3-30, then Overnight SOFR + 1.290%), 03/03/2031 | 1114000 | 1128874 |
| &nbsp;&nbsp;&nbsp;5.790%, (5.790% to 5-13-35, then Overnight SOFR + 1.880%), 05/13/2036 | 1084000 | 1114931 |
| ING Groep NV<br> 5.525%, (5.525% to 3-25-35, then Overnight SOFR + 1.610%), 03/25/2036 | &nbsp;&nbsp;920000 | &nbsp;&nbsp;&nbsp;&nbsp;936541 |
| JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;2.522%, (2.522% to 4-22-30, then Overnight SOFR + 2.040%), 04/22/2031 | &nbsp;&nbsp;789000 | &nbsp;&nbsp;&nbsp;&nbsp;721379 |
| &nbsp;&nbsp;&nbsp;5.294%, (5.294% to 7-22-34, then Overnight SOFR + 1.460%), 07/22/2035 | &nbsp;&nbsp;404000 | &nbsp;&nbsp;&nbsp;&nbsp;411119 |
| &nbsp;&nbsp;&nbsp;5.572%, (5.572% to 4-22-35, then Overnight SOFR + 1.680%), 04/22/2036 | &nbsp;&nbsp;190000 | &nbsp;&nbsp;&nbsp;&nbsp;196905 |
| Lloyds Banking Group PLC<br> 6.068%, (6.068% to 6-13-35, then 1 Year CMT + 1.600%), 06/13/2036 | &nbsp;&nbsp;467000 | &nbsp;&nbsp;&nbsp;&nbsp;480122 |
| Mitsubishi UFJ Financial Group, Inc.<br> 5.159%, (5.159% to 4-24-30, then 1 Year CMT + 1.170%), 04/24/2031 | &nbsp;&nbsp;562000 | &nbsp;&nbsp;&nbsp;&nbsp;575344 |
| Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;4.994%, (4.994% to 4-12-28, then Overnight SOFR + 1.380%), 04/12/2029 | 1335000 | 1354421 |
| &nbsp;&nbsp;&nbsp;5.042%, (5.042% to 7-19-29, then Overnight SOFR + 1.215%), 07/19/2030 | 1211000 | 1231574 |
| &nbsp;&nbsp;&nbsp;5.192%, (5.192% to 4-17-30, then Overnight SOFR + 1.510%), 04/17/2031 | &nbsp;&nbsp;964000 | &nbsp;&nbsp;&nbsp;&nbsp;988225 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| Morgan Stanley (continued) |  |  |
| &nbsp;&nbsp;&nbsp;5.230%, (5.230% to 1-15-30, then Overnight SOFR + 1.108%), 01/15/2031 | $1301000 | $1331825 |
| &nbsp;&nbsp;&nbsp;5.449%, (5.449% to 7-20-28, then Overnight SOFR + 1.630%), 07/20/2029 | &nbsp;&nbsp;512000 | &nbsp;&nbsp;&nbsp;&nbsp;526567 |
| &nbsp;&nbsp;&nbsp;5.831%, (5.831% to 4-19-34, then Overnight SOFR + 1.580%), 04/19/2035 | 1195000 | 1251953 |
| NatWest Group PLC<br> 5.115%, (5.115% to 5-23-30, then 1 Year CMT + 1.050%), 05/23/2031 | &nbsp;&nbsp;687000 | &nbsp;&nbsp;&nbsp;&nbsp;698242 |
| Nomura Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.904%, 07/01/2030 | &nbsp;&nbsp;858000 | &nbsp;&nbsp;&nbsp;&nbsp;860927 |
| &nbsp;&nbsp;&nbsp;5.491%, 06/29/2035 | &nbsp;&nbsp;493000 | &nbsp;&nbsp;&nbsp;&nbsp;495930 |
| Oaktree Specialty Lending Corp.<br> 6.340%, 02/27/2030 | &nbsp;&nbsp;447000 | &nbsp;&nbsp;&nbsp;&nbsp;442935 |
| Santander Holdings USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.741%, (5.741% to 3-20-30, then Overnight SOFR + 1.878%), 03/20/2031 | &nbsp;&nbsp;339000 | &nbsp;&nbsp;&nbsp;&nbsp;348000 |
| &nbsp;&nbsp;&nbsp;6.342%, (6.342% to 5-31-34, then Overnight SOFR + 2.138%), 05/31/2035 | &nbsp;&nbsp;414000 | &nbsp;&nbsp;&nbsp;&nbsp;432326 |
| Societe Generale SA |  |  |
| &nbsp;&nbsp;&nbsp;7.132%, (7.132% to 1-19-54, then 1 Year CMT + 2.950%), 01/19/2055 (D) | &nbsp;&nbsp;208000 | &nbsp;&nbsp;&nbsp;&nbsp;211833 |
| &nbsp;&nbsp;&nbsp;7.367%, 01/10/2053 (D) | &nbsp;&nbsp;208000 | &nbsp;&nbsp;&nbsp;&nbsp;217935 |
| State Street Corp.<br> 4.729%, 02/28/2030 | 1052000 | 1067956 |
| Sumitomo Mitsui Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.660%, (4.660% to 7-8-30, then Overnight SOFR + 1.190%), 07/08/2031 | &nbsp;&nbsp;472000 | &nbsp;&nbsp;&nbsp;&nbsp;472000 |
| &nbsp;&nbsp;&nbsp;4.954%, (4.954% to 7-8-32, then Overnight SOFR + 1.380%), 07/08/2033 | &nbsp;&nbsp;472000 | &nbsp;&nbsp;&nbsp;&nbsp;472000 |
| &nbsp;&nbsp;&nbsp;5.246%, (5.246% to 7-8-35, then Overnight SOFR + 1.500%), 07/08/2036 | &nbsp;&nbsp;590000 | &nbsp;&nbsp;&nbsp;&nbsp;590293 |
| The Bank of New York Mellon Corp.<br> 4.942%, (4.942% to 2-11-30, then Overnight SOFR + 0.887%), 02/11/2031 | &nbsp;&nbsp;743000 | &nbsp;&nbsp;&nbsp;&nbsp;758728 |
| The Goldman Sachs Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.692%, (4.692% to 10-23-29, then Overnight SOFR + 1.135%), 10/23/2030 | &nbsp;&nbsp;787000 | &nbsp;&nbsp;&nbsp;&nbsp;789364 |
| &nbsp;&nbsp;&nbsp;5.049%, (5.049% to 7-23-29, then Overnight SOFR + 1.210%), 07/23/2030 | &nbsp;&nbsp;406000 | &nbsp;&nbsp;&nbsp;&nbsp;412741 |
| &nbsp;&nbsp;&nbsp;5.207%, (5.207% to 1-28-30, then Overnight SOFR + 1.078%), 01/28/2031 | 1039000 | 1063321 |
| &nbsp;&nbsp;&nbsp;5.218%, (5.218% to 4-23-30, then Overnight SOFR + 1.580%), 04/23/2031 | 1599000 | 1639249 |
| &nbsp;&nbsp;&nbsp;5.330%, (5.330% to 7-23-34, then Overnight SOFR + 1.550%), 07/23/2035 | &nbsp;&nbsp;808000 | &nbsp;&nbsp;&nbsp;&nbsp;815025 |
| &nbsp;&nbsp;&nbsp;5.734%, (5.734% to 1-28-55, then Overnight SOFR + 1.696%), 01/28/2056 | &nbsp;&nbsp;370000 | &nbsp;&nbsp;&nbsp;&nbsp;369934 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 20 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Core Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| The PNC Financial Services Group, Inc.<br> 4.812%, (4.812% to 10-21-31, then Overnight SOFR + 1.259%), 10/21/2032 | $&nbsp;&nbsp;603000 | $&nbsp;&nbsp;&nbsp;&nbsp;604387 |
| Wells Fargo & Company |  |  |
| &nbsp;&nbsp;&nbsp;4.897%, (4.897% to 7-25-32, then Overnight SOFR + 2.100%), 07/25/2033 | &nbsp;&nbsp;408000 | &nbsp;&nbsp;&nbsp;&nbsp;408079 |
| &nbsp;&nbsp;&nbsp;4.970%, (4.970% to 4-23-28, then Overnight SOFR + 1.370%), 04/23/2029 | 1352000 | &nbsp;&nbsp;&nbsp;1370918 |
| &nbsp;&nbsp;&nbsp;5.150%, (5.150% to 4-23-30, then Overnight SOFR + 1.500%), 04/23/2031 | 1139000 | &nbsp;&nbsp;&nbsp;1166522 |
| &nbsp;&nbsp;&nbsp;5.211%, (5.211% to 12-3-34, then Overnight SOFR + 1.380%), 12/03/2035 | &nbsp;&nbsp;421000 | &nbsp;&nbsp;&nbsp;&nbsp;422619 |
| &nbsp;&nbsp;&nbsp;5.574%, (5.574% to 7-25-28, then Overnight SOFR + 1.740%), 07/25/2029 | &nbsp;&nbsp;257000 | &nbsp;&nbsp;&nbsp;&nbsp;265367 |
| &nbsp;&nbsp;&nbsp;5.707%, (5.707% to 4-22-27, then Overnight SOFR + 1.070%), 04/22/2028 | &nbsp;&nbsp;409000 | &nbsp;&nbsp;&nbsp;&nbsp;417882 |
| &nbsp;&nbsp;&nbsp;6.303%, (6.303% to 10-23-28, then Overnight SOFR + 1.790%), 10/23/2029 | &nbsp;&nbsp;262000 | &nbsp;&nbsp;&nbsp;&nbsp;276905 |
|  |  | 57413068 |
| **Health care – 2.8%** |  |  |
| AbbVie, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.200%, 11/21/2029 | &nbsp;&nbsp;964000 | &nbsp;&nbsp;&nbsp;&nbsp;922068 |
| &nbsp;&nbsp;&nbsp;4.050%, 11/21/2039 | &nbsp;&nbsp;274000 | &nbsp;&nbsp;&nbsp;&nbsp;240163 |
| &nbsp;&nbsp;&nbsp;4.250%, 11/21/2049 | &nbsp;&nbsp;951000 | &nbsp;&nbsp;&nbsp;&nbsp;783444 |
| &nbsp;&nbsp;&nbsp;4.500%, 05/14/2035 | &nbsp;&nbsp;&nbsp;&nbsp;41000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39612 |
| &nbsp;&nbsp;&nbsp;4.550%, 03/15/2035 | &nbsp;&nbsp;113000 | &nbsp;&nbsp;&nbsp;&nbsp;109712 |
| &nbsp;&nbsp;&nbsp;4.800%, 03/15/2027 | &nbsp;&nbsp;654000 | &nbsp;&nbsp;&nbsp;&nbsp;660291 |
| &nbsp;&nbsp;&nbsp;4.875%, 03/15/2030 | &nbsp;&nbsp;526000 | &nbsp;&nbsp;&nbsp;&nbsp;538624 |
| &nbsp;&nbsp;&nbsp;4.950%, 03/15/2031 | &nbsp;&nbsp;392000 | &nbsp;&nbsp;&nbsp;&nbsp;402440 |
| &nbsp;&nbsp;&nbsp;5.050%, 03/15/2034 | &nbsp;&nbsp;654000 | &nbsp;&nbsp;&nbsp;&nbsp;665878 |
| &nbsp;&nbsp;&nbsp;5.200%, 03/15/2035 | &nbsp;&nbsp;611000 | &nbsp;&nbsp;&nbsp;&nbsp;624238 |
| &nbsp;&nbsp;&nbsp;5.600%, 03/15/2055 | &nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60021 |
| Alcon Finance Corp.<br> 5.375%, 12/06/2032 (D) | 1062000 | &nbsp;&nbsp;&nbsp;1096372 |
| Amgen, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.600%, 03/02/2043 | &nbsp;&nbsp;377000 | &nbsp;&nbsp;&nbsp;&nbsp;373989 |
| &nbsp;&nbsp;&nbsp;5.650%, 03/02/2053 | &nbsp;&nbsp;118000 | &nbsp;&nbsp;&nbsp;&nbsp;115215 |
| CommonSpirit Health<br> 3.347%, 10/01/2029 | &nbsp;&nbsp;242000 | &nbsp;&nbsp;&nbsp;&nbsp;231403 |
| CVS Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.780%, 03/25/2038 | &nbsp;&nbsp;287000 | &nbsp;&nbsp;&nbsp;&nbsp;263388 |
| &nbsp;&nbsp;&nbsp;5.050%, 03/25/2048 | 1187000 | &nbsp;&nbsp;&nbsp;1024913 |
| &nbsp;&nbsp;&nbsp;5.550%, 06/01/2031 | &nbsp;&nbsp;519000 | &nbsp;&nbsp;&nbsp;&nbsp;539139 |
| &nbsp;&nbsp;&nbsp;5.700%, 06/01/2034 | &nbsp;&nbsp;532000 | &nbsp;&nbsp;&nbsp;&nbsp;547745 |
| Elevance Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.750%, 02/15/2030 | &nbsp;&nbsp;447000 | &nbsp;&nbsp;&nbsp;&nbsp;452299 |
| &nbsp;&nbsp;&nbsp;4.950%, 11/01/2031 | &nbsp;&nbsp;401000 | &nbsp;&nbsp;&nbsp;&nbsp;406607 |
| &nbsp;&nbsp;&nbsp;5.150%, 06/15/2029 | &nbsp;&nbsp;570000 | &nbsp;&nbsp;&nbsp;&nbsp;586263 |
| &nbsp;&nbsp;&nbsp;5.700%, 02/15/2055 | &nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;121132 |
| Eli Lilly & Company |  |  |
| &nbsp;&nbsp;&nbsp;4.200%, 08/14/2029 | &nbsp;&nbsp;822000 | &nbsp;&nbsp;&nbsp;&nbsp;824918 |
| &nbsp;&nbsp;&nbsp;4.600%, 08/14/2034 | &nbsp;&nbsp;677000 | &nbsp;&nbsp;&nbsp;&nbsp;670854 |
| &nbsp;&nbsp;&nbsp;4.700%, 02/09/2034 | &nbsp;&nbsp;519000 | &nbsp;&nbsp;&nbsp;&nbsp;518700 |
| &nbsp;&nbsp;&nbsp;4.900%, 02/12/2032 | &nbsp;&nbsp;199000 | &nbsp;&nbsp;&nbsp;&nbsp;204401 |
| &nbsp;&nbsp;&nbsp;5.050%, 08/14/2054 | &nbsp;&nbsp;&nbsp;&nbsp;63000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59137 |
| &nbsp;&nbsp;&nbsp;5.100%, 02/12/2035 | &nbsp;&nbsp;282000 | &nbsp;&nbsp;&nbsp;&nbsp;289040 |
| &nbsp;&nbsp;&nbsp;5.100%, 02/09/2064 | &nbsp;&nbsp;261000 | &nbsp;&nbsp;&nbsp;&nbsp;242474 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Health care (continued)** |  |  |
| Eli Lilly & Company (continued) |  |  |
| &nbsp;&nbsp;&nbsp;5.500%, 02/12/2055 | $&nbsp;&nbsp;327000 | $&nbsp;&nbsp;&nbsp;&nbsp;329038 |
| &nbsp;&nbsp;&nbsp;5.600%, 02/12/2065 | &nbsp;&nbsp;361000 | &nbsp;&nbsp;&nbsp;&nbsp;365304 |
| Gilead Sciences, Inc.<br> 4.000%, 09/01/2036 | &nbsp;&nbsp;264000 | &nbsp;&nbsp;&nbsp;&nbsp;240803 |
| HCA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, 06/15/2049 | &nbsp;&nbsp;336000 | &nbsp;&nbsp;&nbsp;&nbsp;298489 |
| &nbsp;&nbsp;&nbsp;5.500%, 03/01/2032 | &nbsp;&nbsp;896000 | &nbsp;&nbsp;&nbsp;&nbsp;924701 |
| &nbsp;&nbsp;&nbsp;5.900%, 06/01/2053 | &nbsp;&nbsp;196000 | &nbsp;&nbsp;&nbsp;&nbsp;189248 |
| &nbsp;&nbsp;&nbsp;6.200%, 03/01/2055 | &nbsp;&nbsp;589000 | &nbsp;&nbsp;&nbsp;&nbsp;593195 |
| Merck & Company, Inc.<br> 2.350%, 06/24/2040 | &nbsp;&nbsp;219000 | &nbsp;&nbsp;&nbsp;&nbsp;153784 |
| Pfizer Investment Enterprises Pte, Ltd.<br> 5.300%, 05/19/2053 | &nbsp;&nbsp;&nbsp;&nbsp;64000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60417 |
| Stryker Corp.<br> 4.850%, 02/10/2030 | &nbsp;&nbsp;739000 | &nbsp;&nbsp;&nbsp;&nbsp;753965 |
| UnitedHealth Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.050%, 05/15/2041 | &nbsp;&nbsp;121000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88922 |
| &nbsp;&nbsp;&nbsp;4.600%, 04/15/2027 | &nbsp;&nbsp;540000 | &nbsp;&nbsp;&nbsp;&nbsp;543232 |
| &nbsp;&nbsp;&nbsp;5.150%, 07/15/2034 (E) | &nbsp;&nbsp;551000 | &nbsp;&nbsp;&nbsp;&nbsp;556564 |
| &nbsp;&nbsp;&nbsp;5.300%, 06/15/2035 | &nbsp;&nbsp;865000 | &nbsp;&nbsp;&nbsp;&nbsp;881628 |
| &nbsp;&nbsp;&nbsp;5.500%, 07/15/2044 | &nbsp;&nbsp;316000 | &nbsp;&nbsp;&nbsp;&nbsp;307781 |
| &nbsp;&nbsp;&nbsp;5.625%, 07/15/2054 | &nbsp;&nbsp;844000 | &nbsp;&nbsp;&nbsp;&nbsp;818698 |
| &nbsp;&nbsp;&nbsp;5.750%, 07/15/2064 | &nbsp;&nbsp;279000 | &nbsp;&nbsp;&nbsp;&nbsp;271361 |
| &nbsp;&nbsp;&nbsp;5.875%, 02/15/2053 | &nbsp;&nbsp;666000 | &nbsp;&nbsp;&nbsp;&nbsp;667278 |
|  |  | 21658888 |
| **Industrials – 2.7%** |  |  |
| Caterpillar Financial Services Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.375%, 08/16/2029 (E) | &nbsp;&nbsp;539000 | &nbsp;&nbsp;&nbsp;&nbsp;543092 |
| &nbsp;&nbsp;&nbsp;4.850%, 02/27/2029 | &nbsp;&nbsp;519000 | &nbsp;&nbsp;&nbsp;&nbsp;530962 |
| &nbsp;&nbsp;&nbsp;5.000%, 05/14/2027 | &nbsp;&nbsp;786000 | &nbsp;&nbsp;&nbsp;&nbsp;799381 |
| Caterpillar, Inc.<br> 5.200%, 05/15/2035 | &nbsp;&nbsp;861000 | &nbsp;&nbsp;&nbsp;&nbsp;877661 |
| Crowley Conro LLC<br> 4.181%, 08/15/2043 | &nbsp;&nbsp;419215 | &nbsp;&nbsp;&nbsp;&nbsp;370639 |
| Deere & Company |  |  |
| &nbsp;&nbsp;&nbsp;5.450%, 01/16/2035 | 1181000 | &nbsp;&nbsp;&nbsp;1230252 |
| &nbsp;&nbsp;&nbsp;5.700%, 01/19/2055 | &nbsp;&nbsp;546000 | &nbsp;&nbsp;&nbsp;&nbsp;564434 |
| Delta Air Lines, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.750%, 10/20/2028 (D) | &nbsp;&nbsp;851000 | &nbsp;&nbsp;&nbsp;&nbsp;852974 |
| &nbsp;&nbsp;&nbsp;4.950%, 07/10/2028 | 1051000 | &nbsp;&nbsp;&nbsp;1057003 |
| &nbsp;&nbsp;&nbsp;5.250%, 07/10/2030 | 1182000 | &nbsp;&nbsp;&nbsp;1189587 |
| Eaton Capital ULC<br> 4.450%, 05/09/2030 | &nbsp;&nbsp;349000 | &nbsp;&nbsp;&nbsp;&nbsp;350635 |
| Embraer Netherlands Finance BV<br> 5.980%, 02/11/2035 | &nbsp;&nbsp;682000 | &nbsp;&nbsp;&nbsp;&nbsp;703006 |
| General Dynamics Corp.<br> 4.950%, 08/15/2035 | &nbsp;&nbsp;510000 | &nbsp;&nbsp;&nbsp;&nbsp;511951 |
| Howmet Aerospace, Inc.<br> 4.850%, 10/15/2031 | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;354452 |
| John Deere Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.150%, 09/15/2027 | &nbsp;&nbsp;515000 | &nbsp;&nbsp;&nbsp;&nbsp;516074 |
| &nbsp;&nbsp;&nbsp;4.500%, 01/08/2027 | &nbsp;&nbsp;650000 | &nbsp;&nbsp;&nbsp;&nbsp;654085 |
| &nbsp;&nbsp;&nbsp;4.550%, 06/05/2030 | &nbsp;&nbsp;608000 | &nbsp;&nbsp;&nbsp;&nbsp;613635 |
| &nbsp;&nbsp;&nbsp;4.650%, 01/07/2028 | &nbsp;&nbsp;458000 | &nbsp;&nbsp;&nbsp;&nbsp;464916 |
| &nbsp;&nbsp;&nbsp;4.850%, 06/11/2029 | &nbsp;&nbsp;&nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87090 |
| &nbsp;&nbsp;&nbsp;5.150%, 09/08/2026 | &nbsp;&nbsp;481000 | &nbsp;&nbsp;&nbsp;&nbsp;486778 |
| Northrop Grumman Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.650%, 07/15/2030 | &nbsp;&nbsp;375000 | &nbsp;&nbsp;&nbsp;&nbsp;378287 |
| &nbsp;&nbsp;&nbsp;5.250%, 07/15/2035 | &nbsp;&nbsp;348000 | &nbsp;&nbsp;&nbsp;&nbsp;355087 |
| Rollins, Inc.<br> 5.250%, 02/24/2035 | &nbsp;&nbsp;316000 | &nbsp;&nbsp;&nbsp;&nbsp;317142 |
| Siemens Funding BV |  |  |
| &nbsp;&nbsp;&nbsp;4.350%, 05/26/2028 (D) | &nbsp;&nbsp;855000 | &nbsp;&nbsp;&nbsp;&nbsp;861591 |
| &nbsp;&nbsp;&nbsp;4.600%, 05/28/2030 (D) | &nbsp;&nbsp;570000 | &nbsp;&nbsp;&nbsp;&nbsp;575697 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 21 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Core Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Industrials (continued)** |  |  |
| Siemens Funding BV (continued) |  |  |
| &nbsp;&nbsp;&nbsp;4.900%, 05/28/2032 (D) | $&nbsp;&nbsp;688000 | $&nbsp;&nbsp;&nbsp;&nbsp;697917 |
| &nbsp;&nbsp;&nbsp;5.200%, 05/28/2035 (D) | &nbsp;&nbsp;688000 | &nbsp;&nbsp;&nbsp;&nbsp;700614 |
| &nbsp;&nbsp;&nbsp;5.800%, 05/28/2055 (D) | &nbsp;&nbsp;348000 | &nbsp;&nbsp;&nbsp;&nbsp;358341 |
| The Boeing Company |  |  |
| &nbsp;&nbsp;&nbsp;5.805%, 05/01/2050 | &nbsp;&nbsp;456000 | &nbsp;&nbsp;&nbsp;&nbsp;437304 |
| &nbsp;&nbsp;&nbsp;6.858%, 05/01/2054 | &nbsp;&nbsp;273000 | &nbsp;&nbsp;&nbsp;&nbsp;298857 |
| Uber Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.800%, 09/15/2034 | &nbsp;&nbsp;665000 | &nbsp;&nbsp;&nbsp;&nbsp;653187 |
| &nbsp;&nbsp;&nbsp;5.350%, 09/15/2054 | &nbsp;&nbsp;312000 | &nbsp;&nbsp;&nbsp;&nbsp;291021 |
| Union Pacific Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.375%, 05/20/2031 | &nbsp;&nbsp;246000 | &nbsp;&nbsp;&nbsp;&nbsp;221171 |
| &nbsp;&nbsp;&nbsp;2.800%, 02/14/2032 | &nbsp;&nbsp;333000 | &nbsp;&nbsp;&nbsp;&nbsp;300173 |
| United Parcel Service, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, 05/14/2035 | &nbsp;&nbsp;453000 | &nbsp;&nbsp;&nbsp;&nbsp;461963 |
| &nbsp;&nbsp;&nbsp;5.950%, 05/14/2055 | &nbsp;&nbsp;408000 | &nbsp;&nbsp;&nbsp;&nbsp;418687 |
| &nbsp;&nbsp;&nbsp;6.050%, 05/14/2065 | &nbsp;&nbsp;521000 | &nbsp;&nbsp;&nbsp;&nbsp;533200 |
|  |  | 20618846 |
| **Information technology – 2.8%** |  |  |
| Accenture Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.250%, 10/04/2031 | 1048000 | &nbsp;&nbsp;&nbsp;1038204 |
| &nbsp;&nbsp;&nbsp;4.500%, 10/04/2034 | &nbsp;&nbsp;577000 | &nbsp;&nbsp;&nbsp;&nbsp;561545 |
| Apple, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.375%, 02/08/2041 | &nbsp;&nbsp;188000 | &nbsp;&nbsp;&nbsp;&nbsp;131405 |
| &nbsp;&nbsp;&nbsp;2.650%, 05/11/2050 | &nbsp;&nbsp;205000 | &nbsp;&nbsp;&nbsp;&nbsp;128592 |
| &nbsp;&nbsp;&nbsp;2.650%, 02/08/2051 | &nbsp;&nbsp;158000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98101 |
| &nbsp;&nbsp;&nbsp;3.950%, 08/08/2052 | &nbsp;&nbsp;495000 | &nbsp;&nbsp;&nbsp;&nbsp;394552 |
| &nbsp;&nbsp;&nbsp;4.000%, 05/12/2028 | &nbsp;&nbsp;394000 | &nbsp;&nbsp;&nbsp;&nbsp;394748 |
| &nbsp;&nbsp;&nbsp;4.200%, 05/12/2030 | &nbsp;&nbsp;678000 | &nbsp;&nbsp;&nbsp;&nbsp;681025 |
| Autodesk, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.400%, 12/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;32000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28075 |
| &nbsp;&nbsp;&nbsp;5.300%, 06/15/2035 | &nbsp;&nbsp;339000 | &nbsp;&nbsp;&nbsp;&nbsp;344822 |
| Broadcom, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.450%, 02/15/2031 (D) | &nbsp;&nbsp;404000 | &nbsp;&nbsp;&nbsp;&nbsp;361255 |
| &nbsp;&nbsp;&nbsp;3.150%, 11/15/2025 | &nbsp;&nbsp;303000 | &nbsp;&nbsp;&nbsp;&nbsp;301408 |
| &nbsp;&nbsp;&nbsp;4.150%, 02/15/2028 | &nbsp;&nbsp;643000 | &nbsp;&nbsp;&nbsp;&nbsp;641129 |
| &nbsp;&nbsp;&nbsp;4.550%, 02/15/2032 | &nbsp;&nbsp;655000 | &nbsp;&nbsp;&nbsp;&nbsp;648940 |
| &nbsp;&nbsp;&nbsp;4.800%, 10/15/2034 | &nbsp;&nbsp;917000 | &nbsp;&nbsp;&nbsp;&nbsp;905921 |
| &nbsp;&nbsp;&nbsp;4.926%, 05/15/2037 (D) | &nbsp;&nbsp;369000 | &nbsp;&nbsp;&nbsp;&nbsp;358123 |
| &nbsp;&nbsp;&nbsp;5.050%, 07/12/2029 | &nbsp;&nbsp;943000 | &nbsp;&nbsp;&nbsp;&nbsp;965650 |
| &nbsp;&nbsp;&nbsp;5.150%, 11/15/2031 | 1670000 | &nbsp;&nbsp;&nbsp;1718057 |
| Cadence Design Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.200%, 09/10/2027 | &nbsp;&nbsp;488000 | &nbsp;&nbsp;&nbsp;&nbsp;488698 |
| &nbsp;&nbsp;&nbsp;4.300%, 09/10/2029 | 1356000 | &nbsp;&nbsp;&nbsp;1356224 |
| &nbsp;&nbsp;&nbsp;4.700%, 09/10/2034 | &nbsp;&nbsp;744000 | &nbsp;&nbsp;&nbsp;&nbsp;735023 |
| Foundry JV Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.500%, 01/25/2031 (D) | &nbsp;&nbsp;405000 | &nbsp;&nbsp;&nbsp;&nbsp;415407 |
| &nbsp;&nbsp;&nbsp;5.900%, 01/25/2033 (D) | &nbsp;&nbsp;369000 | &nbsp;&nbsp;&nbsp;&nbsp;382535 |
| &nbsp;&nbsp;&nbsp;6.100%, 01/25/2036 (D) | &nbsp;&nbsp;251000 | &nbsp;&nbsp;&nbsp;&nbsp;259688 |
| &nbsp;&nbsp;&nbsp;6.200%, 01/25/2037 (D) | &nbsp;&nbsp;401000 | &nbsp;&nbsp;&nbsp;&nbsp;417395 |
| &nbsp;&nbsp;&nbsp;6.300%, 01/25/2039 (D) | &nbsp;&nbsp;208000 | &nbsp;&nbsp;&nbsp;&nbsp;217578 |
| Hewlett Packard Enterprise Company<br> 5.600%, 10/15/2054 | &nbsp;&nbsp;281000 | &nbsp;&nbsp;&nbsp;&nbsp;259526 |
| Intel Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.800%, 08/12/2041 | &nbsp;&nbsp;222000 | &nbsp;&nbsp;&nbsp;&nbsp;149190 |
| &nbsp;&nbsp;&nbsp;3.250%, 11/15/2049 | &nbsp;&nbsp;130000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82336 |
| &nbsp;&nbsp;&nbsp;5.600%, 02/21/2054 | &nbsp;&nbsp;130000 | &nbsp;&nbsp;&nbsp;&nbsp;119262 |
| &nbsp;&nbsp;&nbsp;5.625%, 02/10/2043 | &nbsp;&nbsp;148000 | &nbsp;&nbsp;&nbsp;&nbsp;140803 |
| &nbsp;&nbsp;&nbsp;5.700%, 02/10/2053 | &nbsp;&nbsp;240000 | &nbsp;&nbsp;&nbsp;&nbsp;223353 |
| &nbsp;&nbsp;&nbsp;5.900%, 02/10/2063 | &nbsp;&nbsp;194000 | &nbsp;&nbsp;&nbsp;&nbsp;182174 |
| KLA Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.300%, 03/01/2050 | &nbsp;&nbsp;212000 | &nbsp;&nbsp;&nbsp;&nbsp;146877 |
| &nbsp;&nbsp;&nbsp;4.700%, 02/01/2034 | &nbsp;&nbsp;522000 | &nbsp;&nbsp;&nbsp;&nbsp;519786 |
| Micron Technology, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.650%, 11/01/2032 | &nbsp;&nbsp;339000 | &nbsp;&nbsp;&nbsp;&nbsp;352384 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Information technology (continued)** |  |  |
| Micron Technology, Inc. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;6.050%, 11/01/2035 | $928000 | $&nbsp;&nbsp;&nbsp;&nbsp;971212 |
| NetApp, Inc.<br> 5.500%, 03/17/2032 | 709000 | &nbsp;&nbsp;&nbsp;&nbsp;730293 |
| Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, 07/15/2046 | 448000 | &nbsp;&nbsp;&nbsp;&nbsp;345520 |
| &nbsp;&nbsp;&nbsp;5.375%, 09/27/2054 | &nbsp;&nbsp;61000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55762 |
| &nbsp;&nbsp;&nbsp;6.000%, 08/03/2055 | 499000 | &nbsp;&nbsp;&nbsp;&nbsp;498159 |
| Synopsys, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.650%, 04/01/2028 | 394000 | &nbsp;&nbsp;&nbsp;&nbsp;398011 |
| &nbsp;&nbsp;&nbsp;4.850%, 04/01/2030 | 564000 | &nbsp;&nbsp;&nbsp;&nbsp;571823 |
| &nbsp;&nbsp;&nbsp;5.000%, 04/01/2032 | 451000 | &nbsp;&nbsp;&nbsp;&nbsp;456833 |
| &nbsp;&nbsp;&nbsp;5.700%, 04/01/2055 | 113000 | &nbsp;&nbsp;&nbsp;&nbsp;112351 |
| Texas Instruments, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 05/23/2030 | 565000 | &nbsp;&nbsp;&nbsp;&nbsp;571039 |
| &nbsp;&nbsp;&nbsp;5.000%, 03/14/2053 | 309000 | &nbsp;&nbsp;&nbsp;&nbsp;285015 |
| &nbsp;&nbsp;&nbsp;5.100%, 05/23/2035 | 565000 | &nbsp;&nbsp;&nbsp;&nbsp;575627 |
| &nbsp;&nbsp;&nbsp;5.150%, 02/08/2054 | 261000 | &nbsp;&nbsp;&nbsp;&nbsp;245959 |
|  |  | 21967395 |
| **Materials – 0.6%** |  |  |
| CRH America Finance, Inc.<br> 5.500%, 01/09/2035 | 446000 | &nbsp;&nbsp;&nbsp;&nbsp;457064 |
| CRH SMW Finance DAC<br> 5.125%, 01/09/2030 | 446000 | &nbsp;&nbsp;&nbsp;&nbsp;457280 |
| Gerdau Trade, Inc.<br> 5.750%, 06/09/2035 | 531000 | &nbsp;&nbsp;&nbsp;&nbsp;531372 |
| Glencore Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.186%, 04/01/2030 (D) | 786000 | &nbsp;&nbsp;&nbsp;&nbsp;801360 |
| &nbsp;&nbsp;&nbsp;5.634%, 04/04/2034 (D) | 305000 | &nbsp;&nbsp;&nbsp;&nbsp;310865 |
| &nbsp;&nbsp;&nbsp;5.673%, 04/01/2035 (D) | 711000 | &nbsp;&nbsp;&nbsp;&nbsp;725333 |
| &nbsp;&nbsp;&nbsp;6.141%, 04/01/2055 (D) | 267000 | &nbsp;&nbsp;&nbsp;&nbsp;269898 |
| Newmont Corp.<br> 5.350%, 03/15/2034 | 384000 | &nbsp;&nbsp;&nbsp;&nbsp;393920 |
| The Dow Chemical Company<br> 5.350%, 03/15/2035 | 677000 | &nbsp;&nbsp;&nbsp;&nbsp;673435 |
|  |  | &nbsp;&nbsp;&nbsp;4620527 |
| **Real estate – 1.2%** |  |  |
| Agree LP |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, 06/15/2028 | 403000 | &nbsp;&nbsp;&nbsp;&nbsp;377750 |
| &nbsp;&nbsp;&nbsp;2.600%, 06/15/2033 | 110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91400 |
| &nbsp;&nbsp;&nbsp;4.800%, 10/01/2032 | 242000 | &nbsp;&nbsp;&nbsp;&nbsp;239357 |
| &nbsp;&nbsp;&nbsp;5.600%, 06/15/2035 | 395000 | &nbsp;&nbsp;&nbsp;&nbsp;402075 |
| American Homes 4 Rent LP |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, 04/15/2032 | 445000 | &nbsp;&nbsp;&nbsp;&nbsp;410601 |
| &nbsp;&nbsp;&nbsp;4.300%, 04/15/2052 | 199000 | &nbsp;&nbsp;&nbsp;&nbsp;154834 |
| &nbsp;&nbsp;&nbsp;4.950%, 06/15/2030 | 339000 | &nbsp;&nbsp;&nbsp;&nbsp;342460 |
| &nbsp;&nbsp;&nbsp;5.500%, 07/15/2034 | 181000 | &nbsp;&nbsp;&nbsp;&nbsp;183415 |
| Brixmor Operating Partnership LP<br> 2.500%, 08/16/2031 | 426000 | &nbsp;&nbsp;&nbsp;&nbsp;371263 |
| CBRE Services, Inc.<br> 5.500%, 06/15/2035 | 343000 | &nbsp;&nbsp;&nbsp;&nbsp;345194 |
| Crown Castle, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.100%, 04/01/2031 | 437000 | &nbsp;&nbsp;&nbsp;&nbsp;374931 |
| &nbsp;&nbsp;&nbsp;5.800%, 03/01/2034 | 395000 | &nbsp;&nbsp;&nbsp;&nbsp;408976 |
| Essex Portfolio LP |  |  |
| &nbsp;&nbsp;&nbsp;2.550%, 06/15/2031 | 230000 | &nbsp;&nbsp;&nbsp;&nbsp;204029 |
| &nbsp;&nbsp;&nbsp;5.500%, 04/01/2034 | 271000 | &nbsp;&nbsp;&nbsp;&nbsp;276816 |
| Invitation Homes Operating<br> Partnership LP |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, 08/15/2031 | &nbsp;&nbsp;77000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65562 |
| &nbsp;&nbsp;&nbsp;4.150%, 04/15/2032 | 443000 | &nbsp;&nbsp;&nbsp;&nbsp;419345 |
| &nbsp;&nbsp;&nbsp;4.875%, 02/01/2035 | 393000 | &nbsp;&nbsp;&nbsp;&nbsp;380719 |
| Kimco Realty OP LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.850%, 03/01/2035 | 354000 | &nbsp;&nbsp;&nbsp;&nbsp;346553 |
| &nbsp;&nbsp;&nbsp;5.300%, 02/01/2036 | 407000 | &nbsp;&nbsp;&nbsp;&nbsp;409834 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 22 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Core Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Real estate (continued)** |  |  |
| Realty Income Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.100%, 03/15/2028 | $250000 | $&nbsp;&nbsp;&nbsp;&nbsp;236714 |
| &nbsp;&nbsp;&nbsp;2.850%, 12/15/2032 | 322000 | &nbsp;&nbsp;&nbsp;&nbsp;281812 |
| &nbsp;&nbsp;&nbsp;3.400%, 01/15/2030 | 267000 | &nbsp;&nbsp;&nbsp;&nbsp;255562 |
| &nbsp;&nbsp;&nbsp;4.900%, 07/15/2033 | 383000 | &nbsp;&nbsp;&nbsp;&nbsp;381802 |
| Regency Centers LP |  |  |
| &nbsp;&nbsp;&nbsp;2.950%, 09/15/2029 | 609000 | &nbsp;&nbsp;&nbsp;&nbsp;576233 |
| &nbsp;&nbsp;&nbsp;5.000%, 07/15/2032 | 384000 | &nbsp;&nbsp;&nbsp;&nbsp;388391 |
| &nbsp;&nbsp;&nbsp;5.250%, 01/15/2034 | 522000 | &nbsp;&nbsp;&nbsp;&nbsp;529601 |
| Store Capital LLC |  |  |
| &nbsp;&nbsp;&nbsp;2.700%, 12/01/2031 | 155000 | &nbsp;&nbsp;&nbsp;&nbsp;131461 |
| &nbsp;&nbsp;&nbsp;2.750%, 11/18/2030 | 394000 | &nbsp;&nbsp;&nbsp;&nbsp;347213 |
| &nbsp;&nbsp;&nbsp;5.400%, 04/30/2030 (D) | 264000 | &nbsp;&nbsp;&nbsp;&nbsp;267479 |
| Sun Communities Operating LP<br> 4.200%, 04/15/2032 | 489000 | &nbsp;&nbsp;&nbsp;&nbsp;462715 |
|  |  | 9664097 |
| **Utilities – 2.3%** |  |  |
| Alabama Power Company<br> 5.100%, 04/02/2035 | 366000 | &nbsp;&nbsp;&nbsp;&nbsp;368853 |
| American Transmission Systems, Inc.<br> 2.650%, 01/15/2032 (D) | 161000 | &nbsp;&nbsp;&nbsp;&nbsp;141649 |
| Baltimore Gas and Electric Company |  |  |
| &nbsp;&nbsp;&nbsp;2.250%, 06/15/2031 | 345000 | &nbsp;&nbsp;&nbsp;&nbsp;306269 |
| &nbsp;&nbsp;&nbsp;5.450%, 06/01/2035 | 453000 | &nbsp;&nbsp;&nbsp;&nbsp;464319 |
| CenterPoint Energy Houston Electric LLC<br> 3.600%, 03/01/2052 | 255000 | &nbsp;&nbsp;&nbsp;&nbsp;183402 |
| Chile Electricity Lux MPC II Sarl |  |  |
| &nbsp;&nbsp;&nbsp;5.580%, 10/20/2035 (D) | 336262 | &nbsp;&nbsp;&nbsp;&nbsp;336289 |
| &nbsp;&nbsp;&nbsp;5.672%, 10/20/2035 (D) | 528000 | &nbsp;&nbsp;&nbsp;&nbsp;531896 |
| Consolidated Edison Company of New<br> York, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.200%, 12/01/2051 | &nbsp;&nbsp;77000 | &nbsp;&nbsp;&nbsp;&nbsp;51029 |
| &nbsp;&nbsp;&nbsp;3.700%, 11/15/2059 | 131000 | &nbsp;&nbsp;&nbsp;&nbsp;90824 |
| &nbsp;&nbsp;&nbsp;5.375%, 05/15/2034 | 260000 | &nbsp;&nbsp;&nbsp;&nbsp;268363 |
| &nbsp;&nbsp;&nbsp;5.500%, 03/15/2034 | 316000 | &nbsp;&nbsp;&nbsp;&nbsp;328609 |
| &nbsp;&nbsp;&nbsp;5.500%, 03/15/2055 | 463000 | &nbsp;&nbsp;&nbsp;&nbsp;448757 |
| Consumers Energy Company |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 01/15/2031 | 678000 | &nbsp;&nbsp;&nbsp;&nbsp;680652 |
| &nbsp;&nbsp;&nbsp;5.050%, 05/15/2035 | 501000 | &nbsp;&nbsp;&nbsp;&nbsp;504469 |
| DTE Electric Company |  |  |
| &nbsp;&nbsp;&nbsp;2.950%, 03/01/2050 | 402000 | &nbsp;&nbsp;&nbsp;&nbsp;261328 |
| &nbsp;&nbsp;&nbsp;3.650%, 03/01/2052 | 184000 | &nbsp;&nbsp;&nbsp;&nbsp;135230 |
| &nbsp;&nbsp;&nbsp;5.250%, 05/15/2035 | 237000 | &nbsp;&nbsp;&nbsp;&nbsp;241330 |
| Duke Energy Carolinas LLC |  |  |
| &nbsp;&nbsp;&nbsp;2.550%, 04/15/2031 | 157000 | &nbsp;&nbsp;&nbsp;&nbsp;142068 |
| &nbsp;&nbsp;&nbsp;2.850%, 03/15/2032 | 428000 | &nbsp;&nbsp;&nbsp;&nbsp;383950 |
| &nbsp;&nbsp;&nbsp;3.550%, 03/15/2052 | 312000 | &nbsp;&nbsp;&nbsp;&nbsp;224916 |
| &nbsp;&nbsp;&nbsp;5.250%, 03/15/2035 | 376000 | &nbsp;&nbsp;&nbsp;&nbsp;384530 |
| &nbsp;&nbsp;&nbsp;5.350%, 01/15/2053 | 302000 | &nbsp;&nbsp;&nbsp;&nbsp;289561 |
| Duke Energy Corp.<br> 3.500%, 06/15/2051 | 214000 | &nbsp;&nbsp;&nbsp;&nbsp;146967 |
| Duke Energy Florida LLC<br> 2.400%, 12/15/2031 | 344000 | &nbsp;&nbsp;&nbsp;&nbsp;304348 |
| Duke Energy Progress LLC |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, 08/15/2050 | 348000 | &nbsp;&nbsp;&nbsp;&nbsp;201350 |
| &nbsp;&nbsp;&nbsp;3.700%, 10/15/2046 | &nbsp;&nbsp;78000 | &nbsp;&nbsp;&nbsp;&nbsp;58876 |
| Entergy Arkansas LLC |  |  |
| &nbsp;&nbsp;&nbsp;2.650%, 06/15/2051 | 310000 | &nbsp;&nbsp;&nbsp;&nbsp;181411 |
| &nbsp;&nbsp;&nbsp;5.150%, 01/15/2033 | 517000 | &nbsp;&nbsp;&nbsp;&nbsp;529778 |
| Entergy Mississippi LLC<br> 5.800%, 04/15/2055 | 337000 | &nbsp;&nbsp;&nbsp;&nbsp;337191 |
| Exelon Corp.<br> 5.875%, 03/15/2055 | 519000 | &nbsp;&nbsp;&nbsp;&nbsp;517836 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Utilities (continued)** |  |  |
| FirstEnergy Pennsylvania<br> Electric Company |  |  |
| &nbsp;&nbsp;&nbsp;3.250%, 03/15/2028 (D) | $336000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325906 |
| &nbsp;&nbsp;&nbsp;4.300%, 01/15/2029 (D) | 405000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;401211 |
| &nbsp;&nbsp;&nbsp;5.200%, 04/01/2028 (D) | 265000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270318 |
| Georgia Power Company<br> 5.200%, 03/15/2035 | 135000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136879 |
| Jersey Central Power & Light Company |  |  |
| &nbsp;&nbsp;&nbsp;2.750%, 03/01/2032 (D) | 379000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;332248 |
| &nbsp;&nbsp;&nbsp;5.100%, 01/15/2035 | 307000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;306092 |
| MidAmerican Energy Company<br> 2.700%, 08/01/2052 | 299000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185083 |
| Mississippi Power Company |  |  |
| &nbsp;&nbsp;&nbsp;3.100%, 07/30/2051 | 413000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;271070 |
| &nbsp;&nbsp;&nbsp;4.250%, 03/15/2042 | 175000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149243 |
| Northern States Power Company |  |  |
| &nbsp;&nbsp;&nbsp;5.050%, 05/15/2035 | 565000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570645 |
| &nbsp;&nbsp;&nbsp;5.400%, 03/15/2054 | 209000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201491 |
| &nbsp;&nbsp;&nbsp;5.650%, 06/15/2054 | 226000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227347 |
| NSTAR Electric Company |  |  |
| &nbsp;&nbsp;&nbsp;5.200%, 03/01/2035 | 203000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204372 |
| &nbsp;&nbsp;&nbsp;5.400%, 06/01/2034 | 398000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;407737 |
| Oncor Electric Delivery Company LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.350%, 04/01/2035 (D) | 317000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;322929 |
| &nbsp;&nbsp;&nbsp;5.800%, 04/01/2055 (D) | 370000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;371602 |
| Pacific Gas & Electric Company |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, 08/01/2050 | 131000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83995 |
| &nbsp;&nbsp;&nbsp;3.950%, 12/01/2047 | 842000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;594029 |
| &nbsp;&nbsp;&nbsp;4.200%, 06/01/2041 | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153808 |
| &nbsp;&nbsp;&nbsp;4.950%, 07/01/2050 | 985000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;793918 |
| PECO Energy Company<br> 2.850%, 09/15/2051 | 416000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261972 |
| PPL Capital Funding, Inc.<br> 5.250%, 09/01/2034 | 240000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;241930 |
| Public Service Company of Oklahoma<br> 3.150%, 08/15/2051 | 233000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145824 |
| Public Service Electric & Gas Company |  |  |
| &nbsp;&nbsp;&nbsp;1.900%, 08/15/2031 | 592000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;512377 |
| &nbsp;&nbsp;&nbsp;2.050%, 08/01/2050 | &nbsp;&nbsp;96000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51017 |
| &nbsp;&nbsp;&nbsp;2.700%, 05/01/2050 | 161000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99920 |
| &nbsp;&nbsp;&nbsp;5.050%, 03/01/2035 | 398000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;402291 |
| &nbsp;&nbsp;&nbsp;5.500%, 03/01/2055 | 158000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155820 |
| Sempra<br> 6.550%, (6.550% to 4-1-35, then 5 Year CMT + 2.138%), 04/01/2055 | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71119 |
| Southern California Edison Company<br> 4.125%, 03/01/2048 | 260000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188577 |
| Trans-Allegheny Interstate Line Company<br> 5.000%, 01/15/2031 (D) | 491000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;499553 |
| Virginia Electric & Power Company<br> 2.950%, 11/15/2051 | 345000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215476 |
|  |  | &nbsp;&nbsp;&nbsp;18201849 |
| TOTAL CORPORATE BONDS (Cost $198,557,787) |  | $197832983 |
| **MUNICIPAL BONDS – 0.1%** |  |  |
| Board of Regents of the University of Texas System<br> 2.439%, 08/15/2049 | 215000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128558 |
| North Texas Tollway Authority<br> 6.718%, 01/01/2049 | 343000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;377545 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 23 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Core Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **MUNICIPAL BONDS (continued)** |  |  |
| Ohio State University<br> 4.800%, 06/01/2111 | &nbsp;&nbsp;&nbsp;&nbsp;41000 | $&nbsp;&nbsp;&nbsp;&nbsp;34304 |
| Port Authority of New York & New Jersey<br> 4.458%, 10/01/2062 | &nbsp;&nbsp;571000 | &nbsp;&nbsp;&nbsp;&nbsp;479159 |
| TOTAL MUNICIPAL BONDS (Cost $1,389,280) | TOTAL MUNICIPAL BONDS (Cost $1,389,280) | $1019566 |
| **COLLATERALIZED MORTGAGE OBLIGATIONS – 16.0%** | **COLLATERALIZED MORTGAGE OBLIGATIONS – 16.0%** |  |
| **Commercial and residential – 1.7%** |  |  |
| Angel Oak Mortgage Trust LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-2, Class A1A,<br> 2.531%, 01/26/2065 (D)(F) | &nbsp;&nbsp;&nbsp;&nbsp;85669 | &nbsp;&nbsp;&nbsp;&nbsp;81111 |
| &nbsp;&nbsp;&nbsp;Series 2020-5, Class A1,<br> 1.373%, 05/25/2065 (D)(F) | &nbsp;&nbsp;&nbsp;&nbsp;39190 | &nbsp;&nbsp;&nbsp;&nbsp;37601 |
| &nbsp;&nbsp;&nbsp;Series 2021-6, Class A1,<br> 1.458%, 09/25/2066 (D)(F) | &nbsp;&nbsp;393752 | &nbsp;&nbsp;&nbsp;&nbsp;331405 |
| BANK<br> Series 2022-BNK44, Class A5<br> 5.935%, 11/15/2055 (F) | &nbsp;&nbsp;302000 | &nbsp;&nbsp;&nbsp;&nbsp;316940 |
| BANK5 Trust<br> Series 2025-5YR13, Class A3<br> 5.753%, 01/15/2058 (F) | &nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;130302 |
| BBCMS Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-C2, Class ASB,<br> 4.236%, 12/15/2051 | &nbsp;&nbsp;133047 | &nbsp;&nbsp;&nbsp;&nbsp;132614 |
| &nbsp;&nbsp;&nbsp;Series 2022-C17, Class A5,<br> 4.441%, 09/15/2055 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;582006 |
| &nbsp;&nbsp;&nbsp;Series 2025-5C33, Class A4,<br> 5.839%, 03/15/2058 | 1557000 | 1629763 |
| &nbsp;&nbsp;&nbsp;Series 2025-5C34, Class A3,<br> 5.659%, 05/15/2058 | &nbsp;&nbsp;338000 | &nbsp;&nbsp;&nbsp;&nbsp;352516 |
| Benchmark Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-B25, Class A4,<br> 2.268%, 04/15/2054 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;223233 |
| &nbsp;&nbsp;&nbsp;Series 2025-V15, Class A3,<br> 5.805%, 06/15/2058 | &nbsp;&nbsp;249000 | &nbsp;&nbsp;&nbsp;&nbsp;261151 |
| BMO Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-5C10, Class A3,<br> 5.578%, 05/15/2058 | &nbsp;&nbsp;375000 | &nbsp;&nbsp;&nbsp;&nbsp;388462 |
| &nbsp;&nbsp;&nbsp;Series 2025-C11, Class A5,<br> 5.687%, 02/15/2058 | &nbsp;&nbsp;376000 | &nbsp;&nbsp;&nbsp;&nbsp;393249 |
| &nbsp;&nbsp;&nbsp;Series 2025-C12, Class A5,<br> 5.871%, 06/15/2058 (F) | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;264680 |
| Bunker Hill Loan Depositary Trust<br> Series 2019-2, Class A1<br> 2.879%, 07/25/2049 (D) | &nbsp;&nbsp;145038 | &nbsp;&nbsp;&nbsp;&nbsp;141566 |
| BX Commercial Mortgage Trust<br> Series 2021-VOLT, Class A (1 month CME Term SOFR + 0.814%)<br> 5.126%, 09/15/2036 (A)(D) | 1958002 | 1951883 |
| COLT Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-2, Class A1,<br> 0.924%, 08/25/2066 (D)(F) | &nbsp;&nbsp;507752 | &nbsp;&nbsp;&nbsp;&nbsp;426577 |
| &nbsp;&nbsp;&nbsp;Series 2021-4, Class A1,<br> 1.397%, 10/25/2066 (D)(F) | &nbsp;&nbsp;546760 | &nbsp;&nbsp;&nbsp;&nbsp;465404 |
| Commercial Mortgage Trust (Cantor Fitzgerald/Deutsche Bank AG)<br> Series 2015-LC23, Class A3<br> 3.521%, 10/10/2048 | &nbsp;&nbsp;188900 | &nbsp;&nbsp;&nbsp;&nbsp;188439 |
| GS Mortgage Securities Trust<br> Series 2020-GSA2, Class A4<br> 1.721%, 12/12/2053 | &nbsp;&nbsp;995000 | &nbsp;&nbsp;&nbsp;&nbsp;883589 |
| Impact Funding Affordable Multifamily Housing Mortgage Loan Trust<br> Series 2010-1, Class A1<br> 5.314%, 01/25/2051 (D) | &nbsp;&nbsp;&nbsp;&nbsp;19833 | &nbsp;&nbsp;&nbsp;&nbsp;19728 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| JPMorgan Chase Commercial Mortgage Securities Trust<br> Series 2016-JP4, Class A3<br> 3.393%, 12/15/2049 | $139000 | $&nbsp;&nbsp;&nbsp;&nbsp;136999 |
| MFA Trust<br> Series 2021-NQM2, Class A1<br> 1.029%, 11/25/2064 (D)(F) | 196230 | &nbsp;&nbsp;&nbsp;&nbsp;172799 |
| Morgan Stanley Bank of America Merrill Lynch Trust<br> Series 2025-5C1, Class A3<br> 5.635%, 03/15/2058 | 175000 | &nbsp;&nbsp;&nbsp;&nbsp;181825 |
| Morgan Stanley Capital I Trust<br> Series 2020-HR8, Class A3<br> 1.790%, 07/15/2053 | 372926 | &nbsp;&nbsp;&nbsp;&nbsp;326517 |
| New Residential Mortgage Loan Trust<br> Series 2019-NQM4, Class A1<br> 2.492%, 09/25/2059 (D)(F) | &nbsp;&nbsp;89565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85436 |
| Starwood Mortgage Residential Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-3, Class A1,<br> 1.486%, 04/25/2065 (D)(F) | 109731 | &nbsp;&nbsp;&nbsp;&nbsp;105806 |
| &nbsp;&nbsp;&nbsp;Series 2020-INV1, Class A1,<br> 1.027%, 11/25/2055 (D)(F) | &nbsp;&nbsp;88229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83271 |
| &nbsp;&nbsp;&nbsp;Series 2021-1, Class A1,<br> 1.219%, 05/25/2065 (D)(F) | 143256 | &nbsp;&nbsp;&nbsp;&nbsp;134031 |
| &nbsp;&nbsp;&nbsp;Series 2021-4, Class A1,<br> 1.162%, 08/25/2056 (D)(F) | 452471 | &nbsp;&nbsp;&nbsp;&nbsp;396075 |
| SWCH Commercial Mortgage Trust<br> Series 2025-DATA, Class A (1 month CME Term SOFR + 1.443%)<br> 5.755%, 02/15/2042 (A)(D) | 649000 | &nbsp;&nbsp;&nbsp;&nbsp;644198 |
| Verus Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-INV3, Class A1,<br> 3.692%, 11/25/2059 (D)(F) | &nbsp;&nbsp;29180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28895 |
| &nbsp;&nbsp;&nbsp;Series 2021-1, Class A1,<br> 0.815%, 01/25/2066 (D)(F) | 201101 | &nbsp;&nbsp;&nbsp;&nbsp;179238 |
| &nbsp;&nbsp;&nbsp;Series 2021-2, Class A1,<br> 1.031%, 02/25/2066 (D)(F) | 399384 | &nbsp;&nbsp;&nbsp;&nbsp;354433 |
| &nbsp;&nbsp;&nbsp;Series 2021-3, Class A1,<br> 1.046%, 06/25/2066 (D)(F) | 353515 | &nbsp;&nbsp;&nbsp;&nbsp;310163 |
| &nbsp;&nbsp;&nbsp;Series 2021-4, Class A1,<br> 0.938%, 07/25/2066 (D)(F) | 454226 | &nbsp;&nbsp;&nbsp;&nbsp;376891 |
| &nbsp;&nbsp;&nbsp;Series 2021-8, Class A1,<br> 1.824%, 11/25/2066 (D)(F) | 462456 | &nbsp;&nbsp;&nbsp;&nbsp;422289 |
| &nbsp;&nbsp;&nbsp;Series 2021-R1, Class A1,<br> 0.820%, 10/25/2063 (D)(F) | 108344 | &nbsp;&nbsp;&nbsp;&nbsp;104606 |
| &nbsp;&nbsp;&nbsp;Series 2021-R3, Class A1,<br> 1.020%, 04/25/2064 (D)(F) | 170469 | &nbsp;&nbsp;&nbsp;&nbsp;161815 |
| Wells Fargo Commercial Mortgage Trust<br> Series 2025-C64, Class A5<br> 5.645%, 02/15/2058 | 251000 | &nbsp;&nbsp;&nbsp;&nbsp;262212 |
|  |  | 13669718 |
| **U.S. Government Agency – 14.3%** |  |  |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;Series 264, Class 30,<br> 3.000%, 07/15/2042 | 798074 | &nbsp;&nbsp;&nbsp;&nbsp;730769 |
| &nbsp;&nbsp;&nbsp;Series 271, Class F5 (30 day Average SOFR + 0.614%),<br> 4.918%, 08/15/2042 (A) | 235972 | &nbsp;&nbsp;&nbsp;&nbsp;233153 |
| &nbsp;&nbsp;&nbsp;Series 272, Class F1 (30 day Average SOFR + 0.614%),<br> 4.918%, 08/15/2042 (A) | 372424 | &nbsp;&nbsp;&nbsp;&nbsp;367987 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 24 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Core Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Federal Home Loan<br> Mortgage Corp. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 280, Class F1 (30 day Average SOFR + 0.614%),<br> 4.918%, 09/15/2042 (A) | $378090 | $373561 |
| &nbsp;&nbsp;&nbsp;Series 326, Class F2 (30 day Average SOFR + 0.664%),<br> 4.968%, 03/15/2044 (A) | 287997 | 286656 |
| &nbsp;&nbsp;&nbsp;Series 3693, Class FC (30 day Average SOFR + 0.614%),<br> 4.918%, 07/15/2040 (A) | 187280 | 185588 |
| &nbsp;&nbsp;&nbsp;Series 3919, Class FA (30 day Average SOFR + 0.614%),<br> 4.918%, 09/15/2041 (A) | 180166 | 178430 |
| &nbsp;&nbsp;&nbsp;Series 3958, Class AF (30 day Average SOFR + 0.564%),<br> 4.868%, 11/15/2041 (A) | 168884 | 166989 |
| &nbsp;&nbsp;&nbsp;Series 3975, Class FA (30 day Average SOFR + 0.604%),<br> 4.908%, 12/15/2041 (A) | 156391 | 154934 |
| &nbsp;&nbsp;&nbsp;Series 3990, Class FG (30 day Average SOFR + 0.564%),<br> 4.868%, 01/15/2042 (A) | 195756 | 193607 |
| &nbsp;&nbsp;&nbsp;Series 4059, Class FP (30 day Average SOFR + 0.564%),<br> 4.868%, 06/15/2042 (A) | 225036 | 222309 |
| &nbsp;&nbsp;&nbsp;Series 4091, Class BX,<br> 3.250%, 10/15/2041 | 379105 | 356196 |
| &nbsp;&nbsp;&nbsp;Series 4091, Class EX,<br> 3.375%, 07/15/2042 | 242338 | 227677 |
| &nbsp;&nbsp;&nbsp;Series 4091, Class FN (30 day Average SOFR + 0.514%),<br> 4.818%, 08/15/2042 (A) | 221329 | 217984 |
| &nbsp;&nbsp;&nbsp;Series 4091, Class MX,<br> 3.250%, 02/15/2042 | 291469 | 271956 |
| &nbsp;&nbsp;&nbsp;Series 4117, Class HB,<br> 2.500%, 10/15/2042 | 253300 | 225467 |
| &nbsp;&nbsp;&nbsp;Series 4122, Class FP (30 day Average SOFR + 0.514%),<br> 4.818%, 10/15/2042 (A) | 254817 | 250968 |
| &nbsp;&nbsp;&nbsp;Series 4160, Class HP,<br> 2.500%, 01/15/2033 | 242507 | 232202 |
| &nbsp;&nbsp;&nbsp;Series 4184, Class FN (30 day Average SOFR + 0.464%),<br> 4.768%, 03/15/2043 (A) | 131491 | 129279 |
| &nbsp;&nbsp;&nbsp;Series 4205, Class PA,<br> 1.750%, 05/15/2043 | 251930 | 216783 |
| &nbsp;&nbsp;&nbsp;Series 4240, Class FA (30 day Average SOFR + 0.614%),<br> 4.918%, 08/15/2043 (A) | 681602 | 673134 |
| &nbsp;&nbsp;&nbsp;Series 4281, Class FA (30 day Average SOFR + 0.514%),<br> 4.818%, 12/15/2043 (A) | 103525 | 102703 |
| &nbsp;&nbsp;&nbsp;Series 4286, Class VF (30 day Average SOFR + 0.564%),<br> 4.868%, 12/15/2043 (A) | 510018 | 503349 |
| &nbsp;&nbsp;&nbsp;Series 4303, Class FA (30 day Average SOFR + 0.464%),<br> 4.768%, 02/15/2044 (A) | 186405 | 182760 |
| &nbsp;&nbsp;&nbsp;Series 4427, Class CE,<br> 3.000%, 02/15/2034 | &nbsp;&nbsp;64088 | &nbsp;&nbsp;&nbsp;63181 |
| &nbsp;&nbsp;&nbsp;Series 4446, Class CP,<br> 2.250%, 03/15/2045 | 308451 | 274936 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Federal Home Loan<br> Mortgage Corp. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 4527, Class GA,<br> 3.000%, 02/15/2044 | $&nbsp;&nbsp;469488 | $&nbsp;&nbsp;&nbsp;&nbsp;451276 |
| &nbsp;&nbsp;&nbsp;Series 4582, Class HA,<br> 3.000%, 09/15/2045 | 1182936 | 1123810 |
| &nbsp;&nbsp;&nbsp;Series 4587, Class AF (30 day Average SOFR + 0.464%),<br> 4.768%, 06/15/2046 (A) | &nbsp;&nbsp;326249 | &nbsp;&nbsp;&nbsp;&nbsp;323611 |
| &nbsp;&nbsp;&nbsp;Series 4604, Class FB (30 day Average SOFR + 0.514%),<br> 4.818%, 08/15/2046 (A) | &nbsp;&nbsp;615853 | &nbsp;&nbsp;&nbsp;&nbsp;608888 |
| &nbsp;&nbsp;&nbsp;Series 4611, Class BF (30 day Average SOFR + 0.514%),<br> 4.818%, 06/15/2041 (A) | 2350970 | 2324198 |
| &nbsp;&nbsp;&nbsp;Series 4620, Class LF (30 day Average SOFR + 0.514%),<br> 4.818%, 10/15/2046 (A) | &nbsp;&nbsp;333363 | &nbsp;&nbsp;&nbsp;&nbsp;330123 |
| &nbsp;&nbsp;&nbsp;Series 4628, Class KF (30 day Average SOFR + 0.614%),<br> 4.918%, 01/15/2055 (A) | &nbsp;&nbsp;370476 | &nbsp;&nbsp;&nbsp;&nbsp;362931 |
| &nbsp;&nbsp;&nbsp;Series 4709, Class FA (30 day Average SOFR + 0.414%),<br> 4.718%, 08/15/2047 (A) | &nbsp;&nbsp;247227 | &nbsp;&nbsp;&nbsp;&nbsp;243597 |
| &nbsp;&nbsp;&nbsp;Series 4719, Class LA,<br> 3.500%, 09/15/2047 | &nbsp;&nbsp;341847 | &nbsp;&nbsp;&nbsp;&nbsp;316785 |
| &nbsp;&nbsp;&nbsp;Series 4719, Class LM,<br> 3.000%, 09/15/2047 | &nbsp;&nbsp;264121 | &nbsp;&nbsp;&nbsp;&nbsp;236688 |
| &nbsp;&nbsp;&nbsp;Series 4742, Class PA,<br> 3.000%, 10/15/2047 | &nbsp;&nbsp;682598 | &nbsp;&nbsp;&nbsp;&nbsp;625535 |
| &nbsp;&nbsp;&nbsp;Series 4753, Class BD,<br> 3.000%, 01/15/2048 | &nbsp;&nbsp;287792 | &nbsp;&nbsp;&nbsp;&nbsp;259312 |
| &nbsp;&nbsp;&nbsp;Series 4826, Class KF (30 day Average SOFR + 0.414%),<br> 4.718%, 09/15/2048 (A) | &nbsp;&nbsp;222291 | &nbsp;&nbsp;&nbsp;&nbsp;217258 |
| &nbsp;&nbsp;&nbsp;Series 4854, Class FB (30 day Average SOFR + 0.414%),<br> 4.718%, 01/15/2049 (A) | &nbsp;&nbsp;633205 | &nbsp;&nbsp;&nbsp;&nbsp;624786 |
| &nbsp;&nbsp;&nbsp;Series 4857, Class JA,<br> 3.350%, 01/15/2049 | &nbsp;&nbsp;986252 | &nbsp;&nbsp;&nbsp;&nbsp;943929 |
| &nbsp;&nbsp;&nbsp;Series 4880, Class DA,<br> 3.000%, 05/15/2050 | &nbsp;&nbsp;538068 | &nbsp;&nbsp;&nbsp;&nbsp;495754 |
| &nbsp;&nbsp;&nbsp;Series 4903, Class NF (30 day Average SOFR + 0.514%),<br> 4.820%, 08/25/2049 (A) | &nbsp;&nbsp;206466 | &nbsp;&nbsp;&nbsp;&nbsp;203124 |
| &nbsp;&nbsp;&nbsp;Series 4927, Class BG,<br> 3.000%, 11/25/2049 | &nbsp;&nbsp;458180 | &nbsp;&nbsp;&nbsp;&nbsp;423807 |
| &nbsp;&nbsp;&nbsp;Series 4937, Class MD,<br> 2.500%, 10/25/2049 | &nbsp;&nbsp;453352 | &nbsp;&nbsp;&nbsp;&nbsp;403549 |
| &nbsp;&nbsp;&nbsp;Series 4940, Class AG,<br> 3.000%, 05/15/2040 | &nbsp;&nbsp;282063 | &nbsp;&nbsp;&nbsp;&nbsp;267374 |
| &nbsp;&nbsp;&nbsp;Series 4941, Class GA,<br> 2.000%, 12/15/2047 | &nbsp;&nbsp;262289 | &nbsp;&nbsp;&nbsp;&nbsp;220677 |
| &nbsp;&nbsp;&nbsp;Series 4954, Class LB,<br> 2.500%, 02/25/2050 | &nbsp;&nbsp;280679 | &nbsp;&nbsp;&nbsp;&nbsp;246878 |
| &nbsp;&nbsp;&nbsp;Series 4957, Class MY,<br> 3.000%, 02/25/2050 | &nbsp;&nbsp;317000 | &nbsp;&nbsp;&nbsp;&nbsp;263031 |
| &nbsp;&nbsp;&nbsp;Series 4988, Class KF (30 day Average SOFR + 0.464%),<br> 4.770%, 07/25/2050 (A) | &nbsp;&nbsp;354879 | &nbsp;&nbsp;&nbsp;&nbsp;352294 |
| &nbsp;&nbsp;&nbsp;Series 4993, Class KF (30 day Average SOFR + 0.564%),<br> 4.870%, 07/25/2050 (A) | 2080612 | 1998433 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 25 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Core Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Federal Home Loan<br> Mortgage Corp. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 5004, Class FM (30 day Average SOFR + 0.464%),<br> 4.770%, 08/25/2050 (A) | $&nbsp;&nbsp;416256 | $&nbsp;&nbsp;&nbsp;&nbsp;396709 |
| &nbsp;&nbsp;&nbsp;Series 5020, Class ET,<br> 3.500%, 10/25/2050 | &nbsp;&nbsp;405125 | &nbsp;&nbsp;&nbsp;&nbsp;372657 |
| &nbsp;&nbsp;&nbsp;Series 5058, Class BC,<br> 5.000%, 11/25/2050 | &nbsp;&nbsp;293640 | &nbsp;&nbsp;&nbsp;&nbsp;289996 |
| &nbsp;&nbsp;&nbsp;Series 5091, Class AB,<br> 1.500%, 03/25/2051 | &nbsp;&nbsp;807332 | &nbsp;&nbsp;&nbsp;&nbsp;655546 |
| &nbsp;&nbsp;&nbsp;Series 5092, Class HE,<br> 2.000%, 02/25/2051 | &nbsp;&nbsp;481052 | &nbsp;&nbsp;&nbsp;&nbsp;398679 |
| &nbsp;&nbsp;&nbsp;Series 5116, Class PB,<br> 2.250%, 02/25/2051 | &nbsp;&nbsp;497196 | &nbsp;&nbsp;&nbsp;&nbsp;439026 |
| &nbsp;&nbsp;&nbsp;Series 5118, Class CA,<br> 1.500%, 10/15/2033 | &nbsp;&nbsp;474000 | &nbsp;&nbsp;&nbsp;&nbsp;437373 |
| &nbsp;&nbsp;&nbsp;Series 5119, Class QF (30 day Average SOFR + 0.200%),<br> 4.505%, 06/25/2051 (A) | &nbsp;&nbsp;615018 | &nbsp;&nbsp;&nbsp;&nbsp;575598 |
| &nbsp;&nbsp;&nbsp;Series 5178, Class TP,<br> 2.500%, 04/25/2049 | &nbsp;&nbsp;653612 | &nbsp;&nbsp;&nbsp;&nbsp;581757 |
| &nbsp;&nbsp;&nbsp;Series 5182, Class M,<br> 2.500%, 05/25/2049 | &nbsp;&nbsp;387196 | &nbsp;&nbsp;&nbsp;&nbsp;341285 |
| &nbsp;&nbsp;&nbsp;Series 5201, Class CA,<br> 2.500%, 07/25/2048 | &nbsp;&nbsp;561242 | &nbsp;&nbsp;&nbsp;&nbsp;495923 |
| &nbsp;&nbsp;&nbsp;Series 5202, Class BH,<br> 2.000%, 12/25/2047 | &nbsp;&nbsp;288724 | &nbsp;&nbsp;&nbsp;&nbsp;266720 |
| &nbsp;&nbsp;&nbsp;Series 5202, Class KA,<br> 2.500%, 06/25/2049 | &nbsp;&nbsp;433506 | &nbsp;&nbsp;&nbsp;&nbsp;384129 |
| &nbsp;&nbsp;&nbsp;Series 5202, Class TA,<br> 2.500%, 12/25/2048 | &nbsp;&nbsp;836846 | &nbsp;&nbsp;&nbsp;&nbsp;769320 |
| &nbsp;&nbsp;&nbsp;Series 5207, Class PA,<br> 3.000%, 06/25/2051 | &nbsp;&nbsp;628730 | &nbsp;&nbsp;&nbsp;&nbsp;565170 |
| &nbsp;&nbsp;&nbsp;Series 5210, Class DC,<br> 3.000%, 09/25/2051 | &nbsp;&nbsp;441861 | &nbsp;&nbsp;&nbsp;&nbsp;413724 |
| &nbsp;&nbsp;&nbsp;Series 5217, Class CD,<br> 2.500%, 07/25/2049 | &nbsp;&nbsp;453535 | &nbsp;&nbsp;&nbsp;&nbsp;423083 |
| &nbsp;&nbsp;&nbsp;Series 5220, Class QK,<br> 3.500%, 09/25/2050 | &nbsp;&nbsp;885751 | &nbsp;&nbsp;&nbsp;&nbsp;846869 |
| &nbsp;&nbsp;&nbsp;Series 5228, Class TN,<br> 3.500%, 07/25/2039 | &nbsp;&nbsp;311511 | &nbsp;&nbsp;&nbsp;&nbsp;299311 |
| &nbsp;&nbsp;&nbsp;Series 5335, Class FB (30 day Average SOFR + 0.814%),<br> 5.118%, 10/15/2039 (A) | &nbsp;&nbsp;812110 | &nbsp;&nbsp;&nbsp;&nbsp;813725 |
| &nbsp;&nbsp;&nbsp;Series 5338, Class FH (30 day Average SOFR + 0.414%),<br> 4.718%, 04/15/2045 (A) | &nbsp;&nbsp;761080 | &nbsp;&nbsp;&nbsp;&nbsp;745842 |
| &nbsp;&nbsp;&nbsp;Series 5396, Class HF (30 day Average SOFR + 0.950%),<br> 5.255%, 04/25/2054 (A) | 1108813 | 1114884 |
| &nbsp;&nbsp;&nbsp;Series 5399, Class FB (30 day Average SOFR + 0.900%),<br> 5.205%, 04/25/2054 (A) | &nbsp;&nbsp;642979 | &nbsp;&nbsp;&nbsp;&nbsp;641400 |
| &nbsp;&nbsp;&nbsp;Series 5410, Class JY,<br> 3.000%, 03/15/2044 | &nbsp;&nbsp;484000 | &nbsp;&nbsp;&nbsp;&nbsp;418812 |
| &nbsp;&nbsp;&nbsp;Series 5451, Class FD (30 day Average SOFR + 0.514%),<br> 4.818%, 01/15/2044 (A) | &nbsp;&nbsp;363917 | &nbsp;&nbsp;&nbsp;&nbsp;358796 |
| &nbsp;&nbsp;&nbsp;Series 5452, Class KY,<br> 3.000%, 03/15/2044 | &nbsp;&nbsp;519000 | &nbsp;&nbsp;&nbsp;&nbsp;445365 |
| &nbsp;&nbsp;&nbsp;Series 5529, Class HA,<br> 3.000%, 03/15/2043 | &nbsp;&nbsp;292120 | &nbsp;&nbsp;&nbsp;&nbsp;278258 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;Series 2010-107, Class FB (30 day Average SOFR + 0.524%),<br> 4.830%, 09/25/2040 (A) | $174030 | $172170 |
| &nbsp;&nbsp;&nbsp;Series 2011-111, Class DB,<br> 4.000%, 11/25/2041 | 383690 | 371558 |
| &nbsp;&nbsp;&nbsp;Series 2011-117, Class AF (30 day Average SOFR + 0.564%),<br> 4.870%, 11/25/2041 (A) | 155405 | 153634 |
| &nbsp;&nbsp;&nbsp;Series 2011-117, Class FA (30 day Average SOFR + 0.564%),<br> 4.870%, 11/25/2041 (A) | 359092 | 355077 |
| &nbsp;&nbsp;&nbsp;Series 2011-127, Class FC (30 day Average SOFR + 0.564%),<br> 4.870%, 12/25/2041 (A) | 165832 | 163830 |
| &nbsp;&nbsp;&nbsp;Series 2011-142, Class EF (30 day Average SOFR + 0.614%),<br> 4.920%, 01/25/2042 (A) | 184973 | 183189 |
| &nbsp;&nbsp;&nbsp;Series 2011-55, Class FH (30 day Average SOFR + 0.554%),<br> 4.860%, 06/25/2041 (A) | 131536 | 130293 |
| &nbsp;&nbsp;&nbsp;Series 2012-106, Class FA (30 day Average SOFR + 0.454%),<br> 4.760%, 10/25/2042 (A) | 149143 | 147249 |
| &nbsp;&nbsp;&nbsp;Series 2012-12, Class FA (30 day Average SOFR + 0.614%),<br> 4.920%, 02/25/2042 (A) | 164667 | 163045 |
| &nbsp;&nbsp;&nbsp;Series 2012-133, Class JF (30 day Average SOFR + 0.464%),<br> 4.770%, 12/25/2042 (A) | 305185 | 299734 |
| &nbsp;&nbsp;&nbsp;Series 2012-151, Class NX,<br> 1.500%, 01/25/2043 | 256472 | 220295 |
| &nbsp;&nbsp;&nbsp;Series 2012-47, Class JF (30 day Average SOFR + 0.614%),<br> 4.920%, 05/25/2042 (A) | 221262 | 219063 |
| &nbsp;&nbsp;&nbsp;Series 2013-11, Class AP,<br> 1.500%, 01/25/2043 | 718469 | 662922 |
| &nbsp;&nbsp;&nbsp;Series 2013-15, Class FA (30 day Average SOFR + 0.464%),<br> 4.770%, 03/25/2043 (A) | 367984 | 361374 |
| &nbsp;&nbsp;&nbsp;Series 2013-43, Class BP,<br> 1.750%, 05/25/2043 | 309857 | 267130 |
| &nbsp;&nbsp;&nbsp;Series 2013-49, Class AP,<br> 1.750%, 05/25/2043 | 196605 | 166256 |
| &nbsp;&nbsp;&nbsp;Series 2014-25, Class EL,<br> 3.000%, 05/25/2044 | 360035 | 332931 |
| &nbsp;&nbsp;&nbsp;Series 2014-74, Class FC (30 day Average SOFR + 0.514%),<br> 4.820%, 11/25/2044 (A) | 186725 | 183890 |
| &nbsp;&nbsp;&nbsp;Series 2015-26, Class GF (30 day Average SOFR + 0.414%),<br> 4.720%, 05/25/2045 (A) | 535643 | 525203 |
| &nbsp;&nbsp;&nbsp;Series 2015-32, Class FA (30 day Average SOFR + 0.414%),<br> 4.720%, 05/25/2045 (A) | 334814 | 326928 |
| &nbsp;&nbsp;&nbsp;Series 2015-48, Class FB (30 day Average SOFR + 0.414%),<br> 4.720%, 07/25/2045 (A) | 403173 | 393864 |
| &nbsp;&nbsp;&nbsp;Series 2015-72, Class GL,<br> 3.000%, 10/25/2045 | 249000 | 216047 |
| &nbsp;&nbsp;&nbsp;Series 2015-8, Class AP,<br> 2.000%, 03/25/2045 | 623457 | 560217 |
| &nbsp;&nbsp;&nbsp;Series 2015-84, Class PA,<br> 1.700%, 08/25/2033 | 421820 | 396196 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 26 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Core Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Federal National<br> Mortgage Association (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2016-11, Class CF (30 day Average SOFR + 0.464%),<br> 4.770%, 03/25/2046 (A) | $&nbsp;&nbsp;173463 | $&nbsp;&nbsp;&nbsp;&nbsp;171294 |
| &nbsp;&nbsp;&nbsp;Series 2016-11, Class FG (30 day Average SOFR + 0.464%),<br> 4.770%, 03/25/2046 (A) | &nbsp;&nbsp;233332 | &nbsp;&nbsp;&nbsp;&nbsp;230400 |
| &nbsp;&nbsp;&nbsp;Series 2016-19, Class FD (30 day Average SOFR + 0.514%),<br> 4.820%, 04/25/2046 (A) | 1066915 | 1057473 |
| &nbsp;&nbsp;&nbsp;Series 2016-22, Class FA (30 day Average SOFR + 0.514%),<br> 4.820%, 04/25/2046 (A) | &nbsp;&nbsp;446908 | &nbsp;&nbsp;&nbsp;&nbsp;441769 |
| &nbsp;&nbsp;&nbsp;Series 2016-22, Class FG (30 day Average SOFR + 0.514%),<br> 4.820%, 04/25/2046 (A) | &nbsp;&nbsp;390893 | &nbsp;&nbsp;&nbsp;&nbsp;386300 |
| &nbsp;&nbsp;&nbsp;Series 2016-48, Class MA,<br> 2.000%, 06/25/2038 | &nbsp;&nbsp;931020 | &nbsp;&nbsp;&nbsp;&nbsp;870306 |
| &nbsp;&nbsp;&nbsp;Series 2016-57, Class PC,<br> 1.750%, 06/25/2046 | 2090944 | 1784925 |
| &nbsp;&nbsp;&nbsp;Series 2016-61, Class BF (30 day Average SOFR + 0.514%),<br> 4.820%, 09/25/2046 (A) | &nbsp;&nbsp;107949 | &nbsp;&nbsp;&nbsp;&nbsp;107381 |
| &nbsp;&nbsp;&nbsp;Series 2016-64, Class BC,<br> 1.750%, 09/25/2046 | &nbsp;&nbsp;425603 | &nbsp;&nbsp;&nbsp;&nbsp;397760 |
| &nbsp;&nbsp;&nbsp;Series 2016-69, Class BF (30 day Average SOFR + 0.514%),<br> 4.820%, 10/25/2046 (A) | &nbsp;&nbsp;359074 | &nbsp;&nbsp;&nbsp;&nbsp;355565 |
| &nbsp;&nbsp;&nbsp;Series 2016-75, Class FE (30 day Average SOFR + 0.514%),<br> 4.820%, 10/25/2046 (A) | &nbsp;&nbsp;277442 | &nbsp;&nbsp;&nbsp;&nbsp;274885 |
| &nbsp;&nbsp;&nbsp;Series 2016-78, Class FA (30 day Average SOFR + 0.514%),<br> 4.820%, 03/25/2044 (A) | &nbsp;&nbsp;179646 | &nbsp;&nbsp;&nbsp;&nbsp;177472 |
| &nbsp;&nbsp;&nbsp;Series 2016-79, Class FH (30 day Average SOFR + 0.514%),<br> 4.820%, 11/25/2046 (A) | &nbsp;&nbsp;275609 | &nbsp;&nbsp;&nbsp;&nbsp;273045 |
| &nbsp;&nbsp;&nbsp;Series 2016-82, Class FE (30 day Average SOFR + 0.514%),<br> 4.820%, 11/25/2046 (A) | &nbsp;&nbsp;613609 | &nbsp;&nbsp;&nbsp;&nbsp;608117 |
| &nbsp;&nbsp;&nbsp;Series 2016-82, Class FH (30 day Average SOFR + 0.514%),<br> 4.820%, 11/25/2046 (A) | &nbsp;&nbsp;564762 | &nbsp;&nbsp;&nbsp;&nbsp;558505 |
| &nbsp;&nbsp;&nbsp;Series 2016-84, Class FB (30 day Average SOFR + 0.514%),<br> 4.820%, 11/25/2046 (A) | &nbsp;&nbsp;269591 | &nbsp;&nbsp;&nbsp;&nbsp;266511 |
| &nbsp;&nbsp;&nbsp;Series 2016-86, Class FE (30 day Average SOFR + 0.514%),<br> 4.820%, 11/25/2046 (A) | &nbsp;&nbsp;703117 | &nbsp;&nbsp;&nbsp;&nbsp;694976 |
| &nbsp;&nbsp;&nbsp;Series 2016-88, Class CF (30 day Average SOFR + 0.564%),<br> 4.870%, 12/25/2046 (A) | &nbsp;&nbsp;474892 | &nbsp;&nbsp;&nbsp;&nbsp;470550 |
| &nbsp;&nbsp;&nbsp;Series 2016-91, Class AF (30 day Average SOFR + 0.514%),<br> 4.820%, 12/25/2046 (A) | &nbsp;&nbsp;252538 | &nbsp;&nbsp;&nbsp;&nbsp;250516 |
| &nbsp;&nbsp;&nbsp;Series 2017-11, Class FA (30 day Average SOFR + 0.514%),<br> 4.820%, 03/25/2047 (A) | &nbsp;&nbsp;115722 | &nbsp;&nbsp;&nbsp;&nbsp;114837 |
| &nbsp;&nbsp;&nbsp;Series 2017-113, Class FB (30 day Average SOFR + 0.364%),<br> 4.670%, 01/25/2048 (A) | &nbsp;&nbsp;114397 | &nbsp;&nbsp;&nbsp;&nbsp;113065 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Federal National<br> Mortgage Association (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2017-12, Class FD (30 day Average SOFR + 0.514%),<br> 4.820%, 03/25/2047 (A) | $&nbsp;&nbsp;275762 | $273076 |
| &nbsp;&nbsp;&nbsp;Series 2017-13, Class PA,<br> 3.000%, 08/25/2046 | &nbsp;&nbsp;415309 | 387376 |
| &nbsp;&nbsp;&nbsp;Series 2017-23, Class FA (30 day Average SOFR + 0.514%),<br> 4.820%, 04/25/2047 (A) | &nbsp;&nbsp;312809 | 309457 |
| &nbsp;&nbsp;&nbsp;Series 2017-24, Class PG,<br> 2.625%, 04/25/2047 | 1042525 | 912263 |
| &nbsp;&nbsp;&nbsp;Series 2017-26, Class FA (30 day Average SOFR + 0.464%),<br> 4.770%, 04/25/2047 (A) | &nbsp;&nbsp;723783 | 716467 |
| &nbsp;&nbsp;&nbsp;Series 2017-35, Class MC,<br> 2.625%, 12/25/2044 | &nbsp;&nbsp;232410 | 224923 |
| &nbsp;&nbsp;&nbsp;Series 2017-82, Class FE (30 day Average SOFR + 0.364%),<br> 4.670%, 10/25/2047 (A) | &nbsp;&nbsp;262648 | 261973 |
| &nbsp;&nbsp;&nbsp;Series 2017-9, Class BF (30 day Average SOFR + 0.514%),<br> 4.820%, 03/25/2047 (A) | &nbsp;&nbsp;329062 | 325885 |
| &nbsp;&nbsp;&nbsp;Series 2017-9, Class DF (30 day Average SOFR + 0.514%),<br> 4.820%, 03/25/2047 (A) | &nbsp;&nbsp;240623 | 238316 |
| &nbsp;&nbsp;&nbsp;Series 2017-9, Class EF (30 day Average SOFR + 0.514%),<br> 4.820%, 03/25/2047 (A) | &nbsp;&nbsp;126372 | 125482 |
| &nbsp;&nbsp;&nbsp;Series 2017-96, Class FB (30 day Average SOFR + 0.414%),<br> 4.720%, 12/25/2047 (A) | &nbsp;&nbsp;440870 | 434021 |
| &nbsp;&nbsp;&nbsp;Series 2018-1, Class FA (30 day Average SOFR + 0.364%),<br> 4.670%, 02/25/2048 (A) | &nbsp;&nbsp;143004 | 141005 |
| &nbsp;&nbsp;&nbsp;Series 2018-14, Class KC,<br> 3.000%, 03/25/2048 | &nbsp;&nbsp;652919 | 623868 |
| &nbsp;&nbsp;&nbsp;Series 2018-36, Class FD (30 day Average SOFR + 0.364%),<br> 4.670%, 06/25/2048 (A) | &nbsp;&nbsp;589865 | 582575 |
| &nbsp;&nbsp;&nbsp;Series 2018-38, Class MA,<br> 3.300%, 06/25/2048 | &nbsp;&nbsp;510342 | 485874 |
| &nbsp;&nbsp;&nbsp;Series 2018-45, Class TM,<br> 3.000%, 06/25/2048 | &nbsp;&nbsp;407172 | 368900 |
| &nbsp;&nbsp;&nbsp;Series 2018-55, Class GA,<br> 3.375%, 08/25/2048 | &nbsp;&nbsp;389982 | 370905 |
| &nbsp;&nbsp;&nbsp;Series 2018-64, Class A,<br> 3.000%, 09/25/2048 | &nbsp;&nbsp;364344 | 319591 |
| &nbsp;&nbsp;&nbsp;Series 2018-85, Class EA,<br> 3.500%, 12/25/2048 | &nbsp;&nbsp;284010 | 275935 |
| &nbsp;&nbsp;&nbsp;Series 2018-86, Class AF (30 day Average SOFR + 0.414%),<br> 4.720%, 12/25/2048 (A) | &nbsp;&nbsp;&nbsp;&nbsp;92148 | &nbsp;&nbsp;&nbsp;91281 |
| &nbsp;&nbsp;&nbsp;Series 2019-13, Class PE,<br> 3.000%, 03/25/2049 | &nbsp;&nbsp;242715 | 219727 |
| &nbsp;&nbsp;&nbsp;Series 2019-15, Class FA (30 day Average SOFR + 0.614%),<br> 4.920%, 04/25/2049 (A) | &nbsp;&nbsp;207543 | 202004 |
| &nbsp;&nbsp;&nbsp;Series 2019-25, Class PA,<br> 3.000%, 05/25/2048 | &nbsp;&nbsp;635773 | 594437 |
| &nbsp;&nbsp;&nbsp;Series 2019-41, Class FG (30 day Average SOFR + 0.614%),<br> 4.920%, 08/25/2059 (A) | &nbsp;&nbsp;514062 | 501881 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 27 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Core Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Federal National<br> Mortgage Association (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-43, Class FC (30 day Average SOFR + 0.514%),<br> 4.820%, 08/25/2049 (A) | $&nbsp;&nbsp;396885 | $&nbsp;&nbsp;&nbsp;&nbsp;390026 |
| &nbsp;&nbsp;&nbsp;Series 2019-67, Class FB (30 day Average SOFR + 0.564%),<br> 4.870%, 11/25/2049 (A) | &nbsp;&nbsp;219086 | &nbsp;&nbsp;&nbsp;&nbsp;215271 |
| &nbsp;&nbsp;&nbsp;Series 2019-81, Class LH,<br> 3.000%, 12/25/2049 | &nbsp;&nbsp;292686 | &nbsp;&nbsp;&nbsp;&nbsp;263118 |
| &nbsp;&nbsp;&nbsp;Series 2020-45, Class JL,<br> 3.000%, 07/25/2040 | &nbsp;&nbsp;742803 | &nbsp;&nbsp;&nbsp;&nbsp;684187 |
| &nbsp;&nbsp;&nbsp;Series 2020-48, Class AB,<br> 2.000%, 07/25/2050 | &nbsp;&nbsp;334902 | &nbsp;&nbsp;&nbsp;&nbsp;288438 |
| &nbsp;&nbsp;&nbsp;Series 2020-59, Class NC,<br> 3.000%, 08/25/2040 | &nbsp;&nbsp;440863 | &nbsp;&nbsp;&nbsp;&nbsp;405841 |
| &nbsp;&nbsp;&nbsp;Series 2021-27, Class EC,<br> 1.500%, 05/25/2051 | 1444287 | 1165218 |
| &nbsp;&nbsp;&nbsp;Series 2021-40, Class DW,<br> 2.000%, 06/25/2041 | &nbsp;&nbsp;&nbsp;&nbsp;99032 | &nbsp;&nbsp;&nbsp;&nbsp;87305 |
| &nbsp;&nbsp;&nbsp;Series 2021-42, Class AC,<br> 2.000%, 02/25/2051 | &nbsp;&nbsp;403346 | &nbsp;&nbsp;&nbsp;&nbsp;351052 |
| &nbsp;&nbsp;&nbsp;Series 2021-78, Class ND,<br> 1.500%, 11/25/2051 | &nbsp;&nbsp;777175 | &nbsp;&nbsp;&nbsp;&nbsp;637421 |
| &nbsp;&nbsp;&nbsp;Series 2021-84, Class MA,<br> 2.000%, 10/25/2051 | &nbsp;&nbsp;408144 | &nbsp;&nbsp;&nbsp;&nbsp;336302 |
| &nbsp;&nbsp;&nbsp;Series 2021-91, Class AB,<br> 2.500%, 09/25/2049 | &nbsp;&nbsp;492527 | &nbsp;&nbsp;&nbsp;&nbsp;437406 |
| &nbsp;&nbsp;&nbsp;Series 2021-95, Class CP,<br> 1.500%, 08/25/2051 | &nbsp;&nbsp;235450 | &nbsp;&nbsp;&nbsp;&nbsp;199229 |
| &nbsp;&nbsp;&nbsp;Series 2022-3, Class N,<br> 2.000%, 10/25/2047 | 1363027 | 1211011 |
| &nbsp;&nbsp;&nbsp;Series 2022-62, Class KA,<br> 3.250%, 09/25/2052 | &nbsp;&nbsp;301548 | &nbsp;&nbsp;&nbsp;&nbsp;284686 |
| &nbsp;&nbsp;&nbsp;Series 2022-89, Class AY,<br> 3.000%, 02/25/2048 | &nbsp;&nbsp;623000 | &nbsp;&nbsp;&nbsp;&nbsp;537815 |
| &nbsp;&nbsp;&nbsp;Series 2023-14, Class EJ,<br> 2.750%, 04/25/2049 | &nbsp;&nbsp;474810 | &nbsp;&nbsp;&nbsp;&nbsp;440696 |
| &nbsp;&nbsp;&nbsp;Series 2023-37, Class FH (30 day Average SOFR + 0.514%),<br> 4.820%, 01/25/2050 (A) | &nbsp;&nbsp;819562 | &nbsp;&nbsp;&nbsp;&nbsp;806596 |
| &nbsp;&nbsp;&nbsp;Series 2023-38, Class FC (30 day Average SOFR + 0.664%),<br> 4.970%, 06/25/2040 (A) | &nbsp;&nbsp;629816 | &nbsp;&nbsp;&nbsp;&nbsp;626385 |
| &nbsp;&nbsp;&nbsp;Series 2023-38, Class FD (30 day Average SOFR + 0.864%),<br> 5.186%, 10/25/2039 (A) | &nbsp;&nbsp;198843 | &nbsp;&nbsp;&nbsp;&nbsp;197138 |
| &nbsp;&nbsp;&nbsp;Series 2024-64, Class KY,<br> 3.000%, 12/25/2043 | &nbsp;&nbsp;303000 | &nbsp;&nbsp;&nbsp;&nbsp;255740 |
| &nbsp;&nbsp;&nbsp;Series 414, Class A35,<br> 3.500%, 10/25/2042 | &nbsp;&nbsp;842560 | &nbsp;&nbsp;&nbsp;&nbsp;795014 |
| Government National<br> Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;Series 2010-163, Class NC,<br> 4.000%, 12/20/2040 | &nbsp;&nbsp;398836 | &nbsp;&nbsp;&nbsp;&nbsp;396985 |
| &nbsp;&nbsp;&nbsp;Series 2013-152, Class HA,<br> 2.500%, 06/20/2043 | &nbsp;&nbsp;443775 | &nbsp;&nbsp;&nbsp;&nbsp;410913 |
| &nbsp;&nbsp;&nbsp;Series 2014-133, Class BP,<br> 2.250%, 09/20/2044 | &nbsp;&nbsp;340584 | &nbsp;&nbsp;&nbsp;&nbsp;306336 |
| &nbsp;&nbsp;&nbsp;Series 2014-149, Class KP,<br> 2.250%, 07/16/2044 | &nbsp;&nbsp;293542 | &nbsp;&nbsp;&nbsp;&nbsp;269588 |
| &nbsp;&nbsp;&nbsp;Series 2014-181, Class L,<br> 3.000%, 12/20/2044 | &nbsp;&nbsp;313901 | &nbsp;&nbsp;&nbsp;&nbsp;284981 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Government National<br> Mortgage Association (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2015-144, Class CA,<br> 2.500%, 10/20/2045 | $&nbsp;&nbsp;479724 | $&nbsp;&nbsp;&nbsp;&nbsp;424421 |
| &nbsp;&nbsp;&nbsp;Series 2016-136, Class A,<br> 3.000%, 07/20/2044 | &nbsp;&nbsp;277415 | &nbsp;&nbsp;&nbsp;&nbsp;250829 |
| &nbsp;&nbsp;&nbsp;Series 2016-93, Class AB,<br> 1.750%, 07/20/2044 | &nbsp;&nbsp;600007 | &nbsp;&nbsp;&nbsp;&nbsp;495836 |
| &nbsp;&nbsp;&nbsp;Series 2017-139, Class GA,<br> 3.000%, 09/20/2047 | 1099783 | &nbsp;&nbsp;&nbsp;&nbsp;997376 |
| &nbsp;&nbsp;&nbsp;Series 2017-167, Class BQ,<br> 2.500%, 08/20/2044 | &nbsp;&nbsp;344670 | &nbsp;&nbsp;&nbsp;&nbsp;324450 |
| &nbsp;&nbsp;&nbsp;Series 2018-65, Class DC,<br> 3.500%, 05/20/2048 | &nbsp;&nbsp;410000 | &nbsp;&nbsp;&nbsp;&nbsp;379186 |
| &nbsp;&nbsp;&nbsp;Series 2020-63, Class UD,<br> 1.750%, 04/20/2050 | &nbsp;&nbsp;307039 | &nbsp;&nbsp;&nbsp;&nbsp;253689 |
| &nbsp;&nbsp;&nbsp;Series 2021-105, Class P,<br> 1.750%, 06/20/2051 | 1479328 | 1197315 |
| &nbsp;&nbsp;&nbsp;Series 2021-107, Class DB,<br> 1.750%, 04/20/2051 | 1393225 | 1128595 |
| &nbsp;&nbsp;&nbsp;Series 2021-135, Class A,<br> 2.000%, 08/20/2051 | &nbsp;&nbsp;341741 | &nbsp;&nbsp;&nbsp;&nbsp;275442 |
| &nbsp;&nbsp;&nbsp;Series 2021-160, Class NE,<br> 2.000%, 09/20/2051 | 2627263 | 2230496 |
| &nbsp;&nbsp;&nbsp;Series 2021-215, Class GA,<br> 2.000%, 12/20/2051 | 2279729 | 1981513 |
| &nbsp;&nbsp;&nbsp;Series 2021-225, Class YC,<br> 2.000%, 12/20/2051 | &nbsp;&nbsp;270885 | &nbsp;&nbsp;&nbsp;&nbsp;226505 |
| &nbsp;&nbsp;&nbsp;Series 2021-24, Class BC,<br> 1.250%, 02/20/2051 | &nbsp;&nbsp;481670 | &nbsp;&nbsp;&nbsp;&nbsp;372238 |
| &nbsp;&nbsp;&nbsp;Series 2021-27, Class BD,<br> 5.000%, 02/20/2051 | &nbsp;&nbsp;434047 | &nbsp;&nbsp;&nbsp;&nbsp;431284 |
| &nbsp;&nbsp;&nbsp;Series 2021-27, Class CW,<br> 5.000%, 02/20/2051 (F) | &nbsp;&nbsp;551415 | &nbsp;&nbsp;&nbsp;&nbsp;547954 |
| &nbsp;&nbsp;&nbsp;Series 2021-27, Class NT,<br> 5.000%, 02/20/2051 | &nbsp;&nbsp;436885 | &nbsp;&nbsp;&nbsp;&nbsp;429609 |
| &nbsp;&nbsp;&nbsp;Series 2021-27, Class Q,<br> 5.000%, 02/20/2051 | &nbsp;&nbsp;390002 | &nbsp;&nbsp;&nbsp;&nbsp;387392 |
| &nbsp;&nbsp;&nbsp;Series 2021-8, Class CY,<br> 5.000%, 01/20/2051 | &nbsp;&nbsp;385683 | &nbsp;&nbsp;&nbsp;&nbsp;383031 |
| &nbsp;&nbsp;&nbsp;Series 2021-89, Class LK,<br> 2.000%, 05/20/2051 | &nbsp;&nbsp;823806 | &nbsp;&nbsp;&nbsp;&nbsp;705309 |
| &nbsp;&nbsp;&nbsp;Series 2022-107, Class C,<br> 2.500%, 06/20/2051 | 1804820 | 1489945 |
| &nbsp;&nbsp;&nbsp;Series 2022-138, Class PT,<br> 2.500%, 10/20/2051 | 2161614 | 1794852 |
| &nbsp;&nbsp;&nbsp;Series 2022-153, Class KA,<br> 4.000%, 12/20/2049 | &nbsp;&nbsp;447492 | &nbsp;&nbsp;&nbsp;&nbsp;440423 |
| &nbsp;&nbsp;&nbsp;Series 2022-197, Class LF (30 day Average SOFR + 0.700%),<br> 5.002%, 11/20/2052 (A) | 1717526 | 1698254 |
| &nbsp;&nbsp;&nbsp;Series 2022-205, Class A,<br> 2.000%, 09/20/2051 | &nbsp;&nbsp;667002 | &nbsp;&nbsp;&nbsp;&nbsp;538687 |
| &nbsp;&nbsp;&nbsp;Series 2022-24, Class AH,<br> 2.500%, 02/20/2052 | &nbsp;&nbsp;147380 | &nbsp;&nbsp;&nbsp;&nbsp;125394 |
| &nbsp;&nbsp;&nbsp;Series 2022-31, Class GH,<br> 2.500%, 12/20/2049 | 1096809 | &nbsp;&nbsp;&nbsp;&nbsp;988845 |
| &nbsp;&nbsp;&nbsp;Series 2022-34, Class DN,<br> 3.500%, 09/20/2041 | &nbsp;&nbsp;873890 | &nbsp;&nbsp;&nbsp;&nbsp;822042 |
| &nbsp;&nbsp;&nbsp;Series 2022-46, Class LY,<br> 3.000%, 03/20/2052 | &nbsp;&nbsp;202000 | &nbsp;&nbsp;&nbsp;&nbsp;166498 |
| &nbsp;&nbsp;&nbsp;Series 2022-5, Class BA,<br> 2.000%, 10/20/2049 | 2141593 | 1808738 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 28 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Core Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Government National<br> Mortgage Association (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-50, Class CA,<br> 3.000%, 03/20/2052 | 1542764 | $&nbsp;&nbsp;&nbsp;&nbsp;1377921 |
| &nbsp;&nbsp;&nbsp;Series 2022-66, Class CG,<br> 3.500%, 04/20/2052 | &nbsp;&nbsp;955559 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;910483 |
| &nbsp;&nbsp;&nbsp;Series 2022-78, Class HW,<br> 2.500%, 04/20/2052 | &nbsp;&nbsp;349000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270883 |
| &nbsp;&nbsp;&nbsp;Series 2022-84, Class A,<br> 2.500%, 01/20/2052 | &nbsp;&nbsp;534275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;448996 |
| &nbsp;&nbsp;&nbsp;Series 2022-9, Class GA,<br> 2.000%, 01/20/2052 | &nbsp;&nbsp;396564 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;326321 |
| &nbsp;&nbsp;&nbsp;Series 2023-196, Class E,<br> 3.000%, 09/20/2048 | &nbsp;&nbsp;536432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;509810 |
| &nbsp;&nbsp;&nbsp;Series 2023-81, Class YJ,<br> 3.500%, 06/20/2053 | 2042000 | &nbsp;&nbsp;&nbsp;&nbsp;1750249 |
| &nbsp;&nbsp;&nbsp;Series 2024-110, Class JC,<br> 3.000%, 09/20/2047 | 2678492 | &nbsp;&nbsp;&nbsp;&nbsp;2526032 |
| &nbsp;&nbsp;&nbsp;Series 2024-110, Class JL,<br> 3.000%, 10/20/2049 | &nbsp;&nbsp;540000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460025 |
| &nbsp;&nbsp;&nbsp;Series 2024-45, Class BD,<br> 2.000%, 03/20/2054 | &nbsp;&nbsp;352184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;322921 |
| &nbsp;&nbsp;&nbsp;Series 2025-1, Class GC,<br> 3.500%, 10/20/2051 | 6524337 | &nbsp;&nbsp;&nbsp;&nbsp;6240510 |
| &nbsp;&nbsp;&nbsp;Series 2025-7, Class EL,<br> 2.500%, 01/20/2055 | &nbsp;&nbsp;233000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166005 |
|  |  | 111116134 |
| TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $126,450,533) | TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $126,450,533) | $124785852 |
| **ASSET-BACKED SECURITIES – 9.7%** | **ASSET-BACKED SECURITIES – 9.7%** |  |
| Ally Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-3, Class A4<br> 5.070%, 10/16/2028 | &nbsp;&nbsp;331000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;332851 |
| &nbsp;&nbsp;&nbsp;Series 2024-2, Class A4<br> 4.140%, 10/15/2030 | &nbsp;&nbsp;402000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400733 |
| American Express Credit Account<br> Master Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2023-4, Class A<br> 5.150%, 09/15/2030 | 1701000 | &nbsp;&nbsp;&nbsp;&nbsp;1756769 |
| &nbsp;&nbsp;&nbsp;Series 2025-1, Class A<br> 4.560%, 12/15/2029 | 2270000 | &nbsp;&nbsp;&nbsp;&nbsp;2298542 |
| &nbsp;&nbsp;&nbsp;Series 2025-2, Class A<br> 4.280%, 04/15/2030 | 2246000 | &nbsp;&nbsp;&nbsp;&nbsp;2259738 |
| AmeriCredit Automobile<br> Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-2, Class A3<br> 4.380%, 04/18/2028 | &nbsp;&nbsp;&nbsp;&nbsp;68856 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68837 |
| &nbsp;&nbsp;&nbsp;Series 2023-1, Class A3<br> 5.620%, 11/18/2027 | &nbsp;&nbsp;217700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;218547 |
| &nbsp;&nbsp;&nbsp;Series 2023-2, Class A3<br> 5.810%, 05/18/2028 | &nbsp;&nbsp;599000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;603492 |
| AutoNation Finance Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class A3<br> 4.620%, 11/13/2029 (D) | &nbsp;&nbsp;518000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;522066 |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class A4<br> 4.760%, 06/10/2030 (D) | &nbsp;&nbsp;269000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;271987 |
| Avis Budget Rental Car Funding AESOP LLC<br> Series 2025-2A, Class A<br> 5.120%, 08/20/2031 (D) | &nbsp;&nbsp;524000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;533046 |
| BA Credit Card Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-A1, Class A<br> 4.930%, 05/15/2029 | &nbsp;&nbsp;618000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;627155 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET-BACKED SECURITIES (continued)** | **ASSET-BACKED SECURITIES (continued)** |  |
| BA Credit Card Trust (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-A1, Class A<br> 4.310%, 05/15/2030 | $1569000 | $1579625 |
| CarMax Auto Owner Trust<br> Series 2025-2, Class A3<br> 4.480%, 03/15/2030 | 1223000 | 1234199 |
| Chase Auto Owner Trust<br> Series 2022-AA, Class A4<br> 3.990%, 03/27/2028 (D) | &nbsp;&nbsp;416000 | &nbsp;&nbsp;&nbsp;&nbsp;414476 |
| Chase Issuance Trust<br> Series 2024-A2, Class A<br> 4.630%, 01/15/2031 | 2709000 | 2757380 |
| Citibank Credit Card Issuance Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-A1, Class A<br> 4.300%, 06/21/2030 | 1307000 | 1314616 |
| &nbsp;&nbsp;&nbsp;Series 2025-A2, Class A<br> 4.490%, 06/21/2032 | 1307000 | 1316354 |
| College Ave Student Loans LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2017-A, Class A1 (1 month CME Term SOFR + 1.764%)<br> 6.084%, 11/26/2046 (A)(D) | &nbsp;&nbsp;184200 | &nbsp;&nbsp;&nbsp;&nbsp;185645 |
| &nbsp;&nbsp;&nbsp;Series 2018-A, Class A2<br> 4.130%, 12/26/2047 (D) | &nbsp;&nbsp;142576 | &nbsp;&nbsp;&nbsp;&nbsp;139575 |
| &nbsp;&nbsp;&nbsp;Series 2019-A, Class A2<br> 3.280%, 12/28/2048 (D) | &nbsp;&nbsp;262655 | &nbsp;&nbsp;&nbsp;&nbsp;251425 |
| Ford Credit Auto Lease Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-A, Class A4<br> 5.050%, 06/15/2027 | &nbsp;&nbsp;303000 | &nbsp;&nbsp;&nbsp;&nbsp;305073 |
| &nbsp;&nbsp;&nbsp;Series 2025-A, Class A3<br> 4.720%, 06/15/2028 | &nbsp;&nbsp;480000 | &nbsp;&nbsp;&nbsp;&nbsp;483795 |
| Ford Credit Auto Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-1, Class A<br> 3.880%, 11/15/2034 (D) | 1005000 | &nbsp;&nbsp;&nbsp;&nbsp;997327 |
| &nbsp;&nbsp;&nbsp;Series 2022-D, Class A4<br> 5.300%, 03/15/2028 | &nbsp;&nbsp;299000 | &nbsp;&nbsp;&nbsp;&nbsp;301953 |
| &nbsp;&nbsp;&nbsp;Series 2024-D, Class A3<br> 4.610%, 08/15/2029 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;303002 |
| &nbsp;&nbsp;&nbsp;Series 2025-1, Class A (4.860% to 2-15-30, then 9.710% thereafter)<br> 4.860%, 08/15/2037 (D) | 1789000 | 1824636 |
| Ford Credit Floorplan Master Owner<br> Trust A |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-3, Class A1<br> 4.300%, 09/15/2029 (D) | 1688000 | 1690662 |
| &nbsp;&nbsp;&nbsp;Series 2024-4, Class A<br> 4.400%, 09/15/2031 (D) | &nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;750989 |
| &nbsp;&nbsp;&nbsp;Series 2025-1, Class A1<br> 4.630%, 04/15/2030 | 1276000 | 1290082 |
| GM Financial Automobile Leasing Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2023-3, Class A4<br> 5.440%, 08/20/2027 | &nbsp;&nbsp;264000 | &nbsp;&nbsp;&nbsp;&nbsp;265089 |
| &nbsp;&nbsp;&nbsp;Series 2025-2, Class A3<br> 4.580%, 05/22/2028 | &nbsp;&nbsp;353000 | &nbsp;&nbsp;&nbsp;&nbsp;355254 |
| GM Financial Revolving<br> Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-1, Class A<br> 4.980%, 12/11/2036 (D) | &nbsp;&nbsp;434000 | &nbsp;&nbsp;&nbsp;&nbsp;443595 |
| &nbsp;&nbsp;&nbsp;Series 2024-2, Class A<br> 4.520%, 03/11/2037 (D) | &nbsp;&nbsp;424000 | &nbsp;&nbsp;&nbsp;&nbsp;426465 |
| &nbsp;&nbsp;&nbsp;Series 2025-1, Class A<br> 4.640%, 12/11/2037 (D) | 2759000 | 2787769 |
| GMF Floorplan Owner Revolving Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-4A, Class A1<br> 4.730%, 11/15/2029 (D) | 1016000 | 1027701 |
| &nbsp;&nbsp;&nbsp;Series 2025-2A, Class A<br> 4.640%, 03/15/2030 (D) | 1367000 | 1380121 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 29 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Core Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET-BACKED SECURITIES (continued)** | **ASSET-BACKED SECURITIES (continued)** |  |
| Hyundai Auto Lease Securitization Trust<br> Series 2025-B, Class A3<br> 4.530%, 04/17/2028 (D) | $1021000 | $1028022 |
| Hyundai Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-A, Class A3<br> 2.220%, 10/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;65510 | &nbsp;&nbsp;&nbsp;&nbsp;65401 |
| &nbsp;&nbsp;&nbsp;Series 2022-A, Class A4<br> 2.350%, 04/17/2028 | &nbsp;&nbsp;341000 | &nbsp;&nbsp;&nbsp;&nbsp;338053 |
| &nbsp;&nbsp;&nbsp;Series 2023-A, Class A4<br> 4.480%, 07/17/2028 | &nbsp;&nbsp;599000 | &nbsp;&nbsp;&nbsp;&nbsp;599862 |
| &nbsp;&nbsp;&nbsp;Series 2023-B, Class A3<br> 5.480%, 04/17/2028 | &nbsp;&nbsp;292779 | &nbsp;&nbsp;&nbsp;&nbsp;294658 |
| Mercedes-Benz Auto Lease Trust<br> Series 2025-A, Class A3<br> 4.610%, 04/16/2029 | 1115000 | 1127662 |
| Mercedes-Benz Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-1, Class A4<br> 5.250%, 02/15/2029 | &nbsp;&nbsp;693000 | &nbsp;&nbsp;&nbsp;&nbsp;699987 |
| &nbsp;&nbsp;&nbsp;Series 2025-1, Class A3<br> 4.780%, 12/17/2029 | &nbsp;&nbsp;594000 | &nbsp;&nbsp;&nbsp;&nbsp;601846 |
| Navient Private Education Refi<br> Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-DA, Class A2A<br> 4.000%, 12/15/2059 (D) | &nbsp;&nbsp;264544 | &nbsp;&nbsp;&nbsp;&nbsp;261774 |
| &nbsp;&nbsp;&nbsp;Series 2019-CA, Class A2<br> 3.130%, 02/15/2068 (D) | &nbsp;&nbsp;129665 | &nbsp;&nbsp;&nbsp;&nbsp;127128 |
| &nbsp;&nbsp;&nbsp;Series 2019-D, Class A2A<br> 3.010%, 12/15/2059 (D) | &nbsp;&nbsp;645834 | &nbsp;&nbsp;&nbsp;&nbsp;626644 |
| &nbsp;&nbsp;&nbsp;Series 2019-FA, Class A2<br> 2.600%, 08/15/2068 (D) | &nbsp;&nbsp;334478 | &nbsp;&nbsp;&nbsp;&nbsp;321975 |
| &nbsp;&nbsp;&nbsp;Series 2020-EA, Class A<br> 1.690%, 05/15/2069 (D) | &nbsp;&nbsp;&nbsp;&nbsp;60310 | &nbsp;&nbsp;&nbsp;&nbsp;56032 |
| &nbsp;&nbsp;&nbsp;Series 2020-GA, Class A<br> 1.170%, 09/16/2069 (D) | &nbsp;&nbsp;236687 | &nbsp;&nbsp;&nbsp;&nbsp;220416 |
| &nbsp;&nbsp;&nbsp;Series 2021-BA, Class A<br> 0.940%, 07/15/2069 (D) | &nbsp;&nbsp;154019 | &nbsp;&nbsp;&nbsp;&nbsp;140025 |
| &nbsp;&nbsp;&nbsp;Series 2021-CA, Class A<br> 1.060%, 10/15/2069 (D) | &nbsp;&nbsp;550354 | &nbsp;&nbsp;&nbsp;&nbsp;495220 |
| &nbsp;&nbsp;&nbsp;Series 2021-EA, Class A<br> 0.970%, 12/16/2069 (D) | &nbsp;&nbsp;928037 | &nbsp;&nbsp;&nbsp;&nbsp;830325 |
| &nbsp;&nbsp;&nbsp;Series 2021-FA, Class A<br> 1.110%, 02/18/2070 (D) | &nbsp;&nbsp;597001 | &nbsp;&nbsp;&nbsp;&nbsp;528660 |
| &nbsp;&nbsp;&nbsp;Series 2021-GA, Class A<br> 1.580%, 04/15/2070 (D) | &nbsp;&nbsp;149274 | &nbsp;&nbsp;&nbsp;&nbsp;134826 |
| &nbsp;&nbsp;&nbsp;Series 2022-A, Class A<br> 2.230%, 07/15/2070 (D) | 1492788 | 1366612 |
| Navient Student Loan Trust<br> Series 2021-3A, Class A1A<br> 1.770%, 08/25/2070 (D) | &nbsp;&nbsp;626038 | &nbsp;&nbsp;&nbsp;&nbsp;547633 |
| Nelnet Student Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2004-4, Class A5 (90 day Average SOFR + 0.422%)<br> 4.785%, 01/25/2037 (A) | &nbsp;&nbsp;184983 | &nbsp;&nbsp;&nbsp;&nbsp;184177 |
| &nbsp;&nbsp;&nbsp;Series 2005-1, Class A5 (90 day Average SOFR + 0.372%)<br> 4.735%, 10/25/2033 (A) | &nbsp;&nbsp;969815 | &nbsp;&nbsp;&nbsp;&nbsp;960015 |
| &nbsp;&nbsp;&nbsp;Series 2005-2, Class A5 (90 day Average SOFR + 0.362%)<br> 4.704%, 03/23/2037 (A) | &nbsp;&nbsp;894329 | &nbsp;&nbsp;&nbsp;&nbsp;885399 |
| &nbsp;&nbsp;&nbsp;Series 2005-3, Class A5 (90 day Average SOFR + 0.382%)<br> 4.724%, 12/24/2035 (A) | &nbsp;&nbsp;595359 | &nbsp;&nbsp;&nbsp;&nbsp;590166 |
| Nissan Auto Lease Trust<br> Series 2025-A, Class A3<br> 4.750%, 03/15/2028 | &nbsp;&nbsp;907000 | &nbsp;&nbsp;&nbsp;&nbsp;917203 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET-BACKED SECURITIES (continued)** | **ASSET-BACKED SECURITIES (continued)** |  |
| Nissan Auto Receivables Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-B, Class A4<br> 4.450%, 11/15/2029 | $&nbsp;&nbsp;415000 | $&nbsp;&nbsp;&nbsp;&nbsp;415664 |
| &nbsp;&nbsp;&nbsp;Series 2025-A, Class A3<br> 4.490%, 12/17/2029 | &nbsp;&nbsp;870000 | &nbsp;&nbsp;&nbsp;&nbsp;878749 |
| &nbsp;&nbsp;&nbsp;Series 2025-A, Class A4<br> 4.570%, 11/15/2030 | &nbsp;&nbsp;656000 | &nbsp;&nbsp;&nbsp;&nbsp;662789 |
| PenFed Auto Receivables Owner Trust<br> Series 2022-A, Class A4<br> 4.180%, 12/15/2028 (D) | &nbsp;&nbsp;155483 | &nbsp;&nbsp;&nbsp;&nbsp;155319 |
| Santander Drive Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-3, Class A3<br> 5.630%, 01/16/2029 | &nbsp;&nbsp;665000 | &nbsp;&nbsp;&nbsp;&nbsp;668308 |
| &nbsp;&nbsp;&nbsp;Series 2025-2, Class A3<br> 4.670%, 08/15/2029 | &nbsp;&nbsp;661000 | &nbsp;&nbsp;&nbsp;&nbsp;665841 |
| SBNA Auto Lease Trust<br> Series 2024-C, Class A4<br> 4.420%, 03/20/2029 (D) | &nbsp;&nbsp;389000 | &nbsp;&nbsp;&nbsp;&nbsp;388330 |
| SBNA Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-A, Class A3<br> 5.320%, 12/15/2028 (D) | &nbsp;&nbsp;343398 | &nbsp;&nbsp;&nbsp;&nbsp;344419 |
| &nbsp;&nbsp;&nbsp;Series 2024-A, Class A4<br> 5.210%, 04/16/2029 (D) | &nbsp;&nbsp;175000 | &nbsp;&nbsp;&nbsp;&nbsp;176644 |
| SFS Auto Receivables<br> Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-1A, Class A3<br> 4.950%, 05/21/2029 (D) | &nbsp;&nbsp;904000 | &nbsp;&nbsp;&nbsp;&nbsp;907983 |
| &nbsp;&nbsp;&nbsp;Series 2024-1A, Class A4<br> 4.940%, 01/21/2031 (D) | &nbsp;&nbsp;153000 | &nbsp;&nbsp;&nbsp;&nbsp;155126 |
| &nbsp;&nbsp;&nbsp;Series 2024-2A, Class A3<br> 5.330%, 11/20/2029 (D) | &nbsp;&nbsp;570000 | &nbsp;&nbsp;&nbsp;&nbsp;576913 |
| &nbsp;&nbsp;&nbsp;Series 2025-2A, Class A4<br> 4.580%, 05/20/2031 (D) | &nbsp;&nbsp;484000 | &nbsp;&nbsp;&nbsp;&nbsp;485777 |
| SMB Private Education Loan Trust<br> Series 2021-A, Class APT1<br> 1.070%, 01/15/2053 (D) | &nbsp;&nbsp;829496 | &nbsp;&nbsp;&nbsp;&nbsp;746664 |
| SoFi Professional Loan Program LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2017-D, Class A2FX<br> 2.650%, 09/25/2040 (D) | &nbsp;&nbsp;&nbsp;&nbsp;6707 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6626 |
| &nbsp;&nbsp;&nbsp;Series 2021-B, Class AFX<br> 1.140%, 02/15/2047 (D) | &nbsp;&nbsp;472261 | &nbsp;&nbsp;&nbsp;&nbsp;411216 |
| Stellantis Financial Underwritten Enhanced Lease Trust<br> Series 2025-AA, Class A3<br> 4.470%, 07/20/2028 (D) | 1406000 | 1411555 |
| Synchrony Card Funding LLC<br> Series 2025-A2, Class A<br> 4.490%, 05/15/2031 | 1727000 | 1743041 |
| Synchrony Card Issuance Trust<br> Series 2025-A1, Class A<br> 4.780%, 02/15/2031 | &nbsp;&nbsp;891000 | &nbsp;&nbsp;&nbsp;&nbsp;904759 |
| T-Mobile US Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-1A, Class A<br> 4.910%, 05/22/2028 (D) | &nbsp;&nbsp;168516 | &nbsp;&nbsp;&nbsp;&nbsp;168630 |
| &nbsp;&nbsp;&nbsp;Series 2024-2A, Class A<br> 4.250%, 05/21/2029 (D) | &nbsp;&nbsp;715000 | &nbsp;&nbsp;&nbsp;&nbsp;715831 |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class A<br> 4.740%, 11/20/2029 (D) | &nbsp;&nbsp;673000 | &nbsp;&nbsp;&nbsp;&nbsp;681521 |
| Toyota Auto Loan Extended Note Trust<br> Series 2025-1A, Class A<br> 4.650%, 05/25/2038 (D) | &nbsp;&nbsp;654000 | &nbsp;&nbsp;&nbsp;&nbsp;662728 |
| Toyota Auto Receivables Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-D, Class A4<br> 5.430%, 04/17/2028 | &nbsp;&nbsp;378000 | &nbsp;&nbsp;&nbsp;&nbsp;384448 |
| &nbsp;&nbsp;&nbsp;Series 2023-B, Class A3<br> 4.710%, 02/15/2028 | &nbsp;&nbsp;652084 | &nbsp;&nbsp;&nbsp;&nbsp;653272 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 30 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Core Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET-BACKED SECURITIES (continued)** | **ASSET-BACKED SECURITIES (continued)** |  |
| Toyota Auto Receivables<br> Owner Trust (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2023-C, Class A3<br> 5.160%, 04/17/2028 | &nbsp;&nbsp;&nbsp;&nbsp;903924 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;908812 |
| &nbsp;&nbsp;&nbsp;Series 2025-B, Class A3<br> 4.340%, 11/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;137000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137843 |
| USB Auto Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class A3<br> 4.490%, 06/17/2030 (D) | &nbsp;&nbsp;&nbsp;&nbsp;590000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;594748 |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class A4<br> 4.620%, 12/16/2030 (D) | &nbsp;&nbsp;&nbsp;&nbsp;176000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178162 |
| Verizon Master Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2023-4, Class A1A<br> 5.160%, 06/20/2029 | &nbsp;&nbsp;1984000 | &nbsp;&nbsp;&nbsp;&nbsp;2000827 |
| &nbsp;&nbsp;&nbsp;Series 2024-7, Class A<br> 4.350%, 08/20/2032 (D) | &nbsp;&nbsp;1198000 | &nbsp;&nbsp;&nbsp;&nbsp;1200462 |
| &nbsp;&nbsp;&nbsp;Series 2025-2, Class A<br> 4.940%, 01/20/2033 (D) | &nbsp;&nbsp;1557000 | &nbsp;&nbsp;&nbsp;&nbsp;1595877 |
| &nbsp;&nbsp;&nbsp;Series 2025-3, Class A1A<br> 4.510%, 03/20/2030 | &nbsp;&nbsp;1408000 | &nbsp;&nbsp;&nbsp;&nbsp;1414180 |
| &nbsp;&nbsp;&nbsp;Series 2025-4, Class A<br> 4.760%, 03/21/2033 (D) | &nbsp;&nbsp;1408000 | &nbsp;&nbsp;&nbsp;&nbsp;1429868 |
| Volkswagen Auto Loan Enhanced Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2023-1, Class A3<br> 5.020%, 06/20/2028 | &nbsp;&nbsp;&nbsp;&nbsp;808090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;811769 |
| &nbsp;&nbsp;&nbsp;Series 2024-1, Class A3<br> 4.630%, 07/20/2029 | &nbsp;&nbsp;&nbsp;&nbsp;387000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390993 |
| WF Card Issuance Trust<br> Series 2024-A2, Class A<br> 4.290%, 10/15/2029 | &nbsp;&nbsp;1092000 | &nbsp;&nbsp;&nbsp;&nbsp;1097133 |
| World Financial Network Credit Card<br> Master Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-A, Class A<br> 5.470%, 02/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;202000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206353 |
| &nbsp;&nbsp;&nbsp;Series 2024-B, Class A<br> 4.620%, 05/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;578000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;582259 |
| TOTAL ASSET-BACKED SECURITIES (Cost $75,293,060) |  | $&nbsp;&nbsp;75191731 |
| **SHORT-TERM INVESTMENTS – 4.1%** | **SHORT-TERM INVESTMENTS – 4.1%** |  |
| **Short-term funds – 4.1%** |  |  |
| John Hancock Collateral Trust, 4.2596% (G)(H) | &nbsp;&nbsp;&nbsp;&nbsp;214133 | &nbsp;&nbsp;&nbsp;&nbsp;2141845 |
| State Street Institutional U.S. Government Money Market Fund, Premier Class, 4.2560% (G) | 29307080 | &nbsp;&nbsp;&nbsp;29307080 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $31,448,937) | TOTAL SHORT-TERM INVESTMENTS (Cost $31,448,937) | $&nbsp;&nbsp;&nbsp;31448925 |
| **Total Investments (Core Bond Trust)<br> (Cost $808,384,992) – 103.0%** | **Total Investments (Core Bond Trust)<br> (Cost $808,384,992) – 103.0%** | $**799887058** |
| **Other assets and liabilities, net – (3.0%)** |  | **(23225336)** |
| **TOTAL NET ASSETS – 100.0%** |  | $**776661722** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| CME | CME Group Published Rates |
| CMT | Constant Maturity Treasury |
| IBOR | Interbank Offered Rate |
| SOFR | Secured Overnight Financing Rate |
| TBA | To Be Announced. A forward mortgage-backed securities trade issued by a U.S. Government Agency, to be delivered at an agreed-upon future settlement date. |
| (A) | Variable rate obligation. The coupon rate shown represents the rate at period end. |
| (B) | Security purchased or sold on a when-issued or delayed-delivery basis. |

---

(C) Zero coupon bonds are issued at a discount from their principal amount in lieu of paying interest periodically. Rate shown is the effective yield at period end.

(D) This security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. Such securities may be resold, normally to qualified institutional buyers, in
transactions exempt from registration.

(E) All or a portion of this security is on loan as of 6-30-25.

(F) Variable or floating rate security, the interest rate of which adjusts periodically based on a weighted average of interest rates and prepayments on the underlying pool of assets. The
interest rate shown is the current rate as of period end.

(G) The rate shown is the annualized seven-day yield as of 6-30-25.

(H) Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending.

#### High Yield Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS – 91.2%** | **CORPORATE BONDS – 91.2%** |  |
| **Communication services – 14.7%** |  |  |
| Altice Financing SA |  |  |
| &nbsp;&nbsp;&nbsp;5.750%, 08/15/2029 (A) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;468000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;341724 |
| &nbsp;&nbsp;&nbsp;9.625%, 07/15/2027 (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;607000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;522020 |
| Altice France Holding SA<br> 10.500%, 05/15/2027 (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;598000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207805 |
| Altice France SA |  |  |
| &nbsp;&nbsp;&nbsp;5.500%, 10/15/2029 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;572000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;474139 |
| &nbsp;&nbsp;&nbsp;8.125%, 02/01/2027 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;542000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;487800 |
| AMC Entertainment Holdings, Inc.<br> 7.500%, 02/15/2029 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164755 |
| ANGI Group LLC<br> 3.875%, 08/15/2028 (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;607000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565928 |
| Arches Buyer, Inc.<br> 6.125%, 12/01/2028 (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276833 |
| Bell Canada<br> 6.875%, (6.875% to 9-15-30, then 5 Year CMT + 2.390%), 09/15/2055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;469000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480731 |
| Cars.com, Inc.<br> 6.375%, 11/01/2028 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;545000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;546478 |
| CCO Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 08/15/2030 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;991000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;944799 |
| &nbsp;&nbsp;&nbsp;5.125%, 05/01/2027 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;348000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346880 |
| &nbsp;&nbsp;&nbsp;5.375%, 06/01/2029 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;562000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;559945 |
| &nbsp;&nbsp;&nbsp;6.375%, 09/01/2029 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;634000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;646703 |
| &nbsp;&nbsp;&nbsp;7.375%, 03/01/2031 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;854000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;891072 |
| Cinemark USA, Inc.<br> 7.000%, 08/01/2032 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275114 |
| Connect Finco SARL<br> 9.000%, 09/15/2029 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;399000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;401046 |
| CSC Holdings LLC<br> 6.500%, 02/01/2029 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;633000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;514689 |
| CSC Holdings LLC<br> 11.750%, 01/31/2029 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;532647 |
| Directv Financing LLC<br> 10.000%, 02/15/2031 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;782000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;759184 |
| DISH Network Corp.<br> 11.750%, 11/15/2027 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;771000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;794767 |
| GCI LLC<br> 4.750%, 10/15/2028 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;963000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;931162 |
| Gray Media, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.750%, 10/15/2030 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115515 |
| &nbsp;&nbsp;&nbsp;10.500%, 07/15/2029 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;224523 |
| iHeartCommunications, Inc.<br> 10.875%, 05/01/2030 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;773000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;378770 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 31 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### High Yield Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Communication services (continued)** |  |  |
| Iliad Holding SAS<br> 7.000%, 04/15/2032 (A) | $&nbsp;&nbsp;538000 | $&nbsp;&nbsp;&nbsp;&nbsp;551225 |
| LCPR Senior Secured Financing DAC<br> 6.750%, 10/15/2027 (A) | 1087000 | &nbsp;&nbsp;&nbsp;&nbsp;732192 |
| Level 3 Financing, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.875%, 06/30/2033 (A) | 1039000 | &nbsp;&nbsp;&nbsp;1057206 |
| &nbsp;&nbsp;&nbsp;11.000%, 11/15/2029 (A) | &nbsp;&nbsp;788724 | &nbsp;&nbsp;&nbsp;&nbsp;904736 |
| Live Nation Entertainment, Inc.<br> 4.750%, 10/15/2027 (A) | &nbsp;&nbsp;890000 | &nbsp;&nbsp;&nbsp;&nbsp;880324 |
| Match Group Holdings II LLC<br> 5.625%, 02/15/2029 (A) | &nbsp;&nbsp;738000 | &nbsp;&nbsp;&nbsp;&nbsp;732606 |
| Playtika Holding Corp.<br> 4.250%, 03/15/2029 (A) | &nbsp;&nbsp;879000 | &nbsp;&nbsp;&nbsp;&nbsp;797701 |
| ROBLOX Corp.<br> 3.875%, 05/01/2030 (A) | &nbsp;&nbsp;598000 | &nbsp;&nbsp;&nbsp;&nbsp;564137 |
| Sable International Finance, Ltd.<br> 7.125%, 10/15/2032 (A) | &nbsp;&nbsp;370000 | &nbsp;&nbsp;&nbsp;&nbsp;370983 |
| Scripps Escrow II, Inc.<br> 5.375%, 01/15/2031 (A)(B) | &nbsp;&nbsp;327000 | &nbsp;&nbsp;&nbsp;&nbsp;225077 |
| Scripps Escrow, Inc.<br> 5.875%, 07/15/2027 (A) | &nbsp;&nbsp;110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97898 |
| Sirius XM Radio LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, 07/15/2028 (A) | &nbsp;&nbsp;582000 | &nbsp;&nbsp;&nbsp;&nbsp;558966 |
| &nbsp;&nbsp;&nbsp;5.500%, 07/01/2029 (A) | &nbsp;&nbsp;646000 | &nbsp;&nbsp;&nbsp;&nbsp;641747 |
| Snap, Inc.<br> 6.875%, 03/01/2033 (A) | &nbsp;&nbsp;498000 | &nbsp;&nbsp;&nbsp;&nbsp;511011 |
| SoftBank Group Corp.<br> 6.875%, (6.875% to 7-19-27, then 5 Year SOFR Spread-Adjusted ICE Swap Rate + 4.854% to 7-19-42, then 5 Year SOFR Spread-Adjusted ICE Swap Rate + 5.604%), 07/19/2027 (D) | &nbsp;&nbsp;728000 | &nbsp;&nbsp;&nbsp;&nbsp;710776 |
| Stagwell Global LLC<br> 5.625%, 08/15/2029 (A) | &nbsp;&nbsp;645000 | &nbsp;&nbsp;&nbsp;&nbsp;616958 |
| Univision Communications, Inc.<br> 8.500%, 07/31/2031 (A) | &nbsp;&nbsp;812000 | &nbsp;&nbsp;&nbsp;&nbsp;812899 |
| Virgin Media Finance PLC<br> 5.000%, 07/15/2030 (A) | &nbsp;&nbsp;430000 | &nbsp;&nbsp;&nbsp;&nbsp;392956 |
| Virgin Media Secured Finance PLC<br> 5.500%, 05/15/2029 (A) | &nbsp;&nbsp;852000 | &nbsp;&nbsp;&nbsp;&nbsp;838012 |
| WarnerMedia Holdings, Inc.<br> 4.279%, 03/15/2032 | 1039000 | &nbsp;&nbsp;&nbsp;&nbsp;874059 |
| Windstream Services LLC<br> 8.250%, 10/01/2031 (A) | &nbsp;&nbsp;438000 | &nbsp;&nbsp;&nbsp;&nbsp;458711 |
| ZipRecruiter, Inc.<br> 5.000%, 01/15/2030 (A) | &nbsp;&nbsp;697000 | &nbsp;&nbsp;&nbsp;&nbsp;595012 |
|  |  | 26310221 |
| **Consumer discretionary – 15.1%** |  |  |
| Affinity Interactive<br> 6.875%, 12/15/2027 (A)(B) | &nbsp;&nbsp;669000 | &nbsp;&nbsp;&nbsp;&nbsp;410599 |
| Allwyn Entertainment Financing UK PLC<br> 7.875%, 04/30/2029 (A) | &nbsp;&nbsp;523000 | &nbsp;&nbsp;&nbsp;&nbsp;544346 |
| Amer Sports Company<br> 6.750%, 02/16/2031 (A) | &nbsp;&nbsp;417000 | &nbsp;&nbsp;&nbsp;&nbsp;434029 |
| Asbury Automotive Group, Inc.<br> 5.000%, 02/15/2032 (A) | &nbsp;&nbsp;684000 | &nbsp;&nbsp;&nbsp;&nbsp;650804 |
| Beach Acquisition Bidco LLC<br> 10.000%, (10.000% Cash or 10.750% PIK), 07/15/2033 (A) | &nbsp;&nbsp;284000 | &nbsp;&nbsp;&nbsp;&nbsp;294370 |
| Caesars Entertainment, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.500%, 02/15/2032 (A) | &nbsp;&nbsp;475000 | &nbsp;&nbsp;&nbsp;&nbsp;487405 |
| &nbsp;&nbsp;&nbsp;7.000%, 02/15/2030 (A) | &nbsp;&nbsp;983000 | &nbsp;&nbsp;&nbsp;1017977 |
| Carnival Corp.<br> 5.875%, 06/15/2031 (A) | &nbsp;&nbsp;546000 | &nbsp;&nbsp;&nbsp;&nbsp;556238 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Consumer discretionary (continued)** |  |  |
| CEC Entertainment LLC<br> 6.750%, 05/01/2026 (A) | $&nbsp;&nbsp;632000 | $&nbsp;&nbsp;&nbsp;&nbsp;627155 |
| Choice Hotels International, Inc.<br> 5.850%, 08/01/2034 | &nbsp;&nbsp;725000 | &nbsp;&nbsp;&nbsp;&nbsp;730656 |
| Clarios Global LP<br> 6.750%, 05/15/2028 (A) | &nbsp;&nbsp;445000 | &nbsp;&nbsp;&nbsp;&nbsp;456772 |
| Fontainebleau Las Vegas Holdings LLC<br> 11.000%, 06/15/2015 (A)(C) | 3600425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360 |
| Full House Resorts, Inc.<br> 8.250%, 02/15/2028 (A)(B) | &nbsp;&nbsp;543000 | &nbsp;&nbsp;&nbsp;&nbsp;527619 |
| Group 1 Automotive, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, 08/15/2028 (A) | &nbsp;&nbsp;470000 | &nbsp;&nbsp;&nbsp;&nbsp;453673 |
| &nbsp;&nbsp;&nbsp;6.375%, 01/15/2030 (A) | &nbsp;&nbsp;269000 | &nbsp;&nbsp;&nbsp;&nbsp;276226 |
| Hilton Grand Vacations Borrower LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.875%, 07/01/2031 (A)(B) | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;552874 |
| &nbsp;&nbsp;&nbsp;6.625%, 01/15/2032 (A) | &nbsp;&nbsp;875000 | &nbsp;&nbsp;&nbsp;&nbsp;888587 |
| International Game Technology PLC<br> 6.250%, 01/15/2027 (A) | 1073000 | 1085693 |
| Jacobs Entertainment, Inc.<br> 6.750%, 02/15/2029 (A) | &nbsp;&nbsp;462000 | &nbsp;&nbsp;&nbsp;&nbsp;444675 |
| KB Home |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, 06/15/2031 (B) | &nbsp;&nbsp;603000 | &nbsp;&nbsp;&nbsp;&nbsp;559771 |
| &nbsp;&nbsp;&nbsp;7.250%, 07/15/2030 | &nbsp;&nbsp;286000 | &nbsp;&nbsp;&nbsp;&nbsp;295904 |
| Kohl's Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, 05/01/2031 | &nbsp;&nbsp;471000 | &nbsp;&nbsp;&nbsp;&nbsp;338115 |
| &nbsp;&nbsp;&nbsp;10.000%, 06/01/2030 (A) | &nbsp;&nbsp;476000 | &nbsp;&nbsp;&nbsp;&nbsp;493383 |
| Liberty Interactive LLC<br> 8.250%, 02/01/2030 | 1088000 | &nbsp;&nbsp;&nbsp;&nbsp;122400 |
| Lithia Motors, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 06/01/2029 (A) | &nbsp;&nbsp;885000 | &nbsp;&nbsp;&nbsp;&nbsp;844011 |
| &nbsp;&nbsp;&nbsp;4.375%, 01/15/2031 (A) | &nbsp;&nbsp;396000 | &nbsp;&nbsp;&nbsp;&nbsp;376546 |
| Macy's Retail Holdings LLC<br> 5.875%, 03/15/2030 (A)(B) | &nbsp;&nbsp;568000 | &nbsp;&nbsp;&nbsp;&nbsp;557910 |
| Marriott Ownership Resorts, Inc.<br> 4.500%, 06/15/2029 (A)(B) | &nbsp;&nbsp;775000 | &nbsp;&nbsp;&nbsp;&nbsp;744315 |
| Midwest Gaming Borrower LLC<br> 4.875%, 05/01/2029 (A) | &nbsp;&nbsp;657000 | &nbsp;&nbsp;&nbsp;&nbsp;632866 |
| New Red Finance, Inc.<br> 3.875%, 01/15/2028 (A) | &nbsp;&nbsp;560000 | &nbsp;&nbsp;&nbsp;&nbsp;545473 |
| Newell Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.375%, 09/15/2027 (B) | &nbsp;&nbsp;709000 | &nbsp;&nbsp;&nbsp;&nbsp;718520 |
| &nbsp;&nbsp;&nbsp;8.500%, 06/01/2028 (A) | &nbsp;&nbsp;141000 | &nbsp;&nbsp;&nbsp;&nbsp;148080 |
| Nordstrom, Inc.<br> 4.250%, 08/01/2031 | &nbsp;&nbsp;621000 | &nbsp;&nbsp;&nbsp;&nbsp;545564 |
| QVC, Inc.<br> 6.875%, 04/15/2029 (A) | &nbsp;&nbsp;534000 | &nbsp;&nbsp;&nbsp;&nbsp;222358 |
| Rakuten Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.250%, (6.250% to 4-22-31, then 5 Year CMT + 4.956% to 4-22-51, then 5 Year CMT + 5.706%), 04/22/2031 (A)(D) | &nbsp;&nbsp;244000 | &nbsp;&nbsp;&nbsp;&nbsp;225603 |
| &nbsp;&nbsp;&nbsp;8.125%, (8.125% to 12-15-29, then 5 Year CMT + 4.250%), 12/15/2029 (A)(D) | &nbsp;&nbsp;220000 | &nbsp;&nbsp;&nbsp;&nbsp;215231 |
| &nbsp;&nbsp;&nbsp;11.250%, 02/15/2027 (A) | &nbsp;&nbsp;580000 | &nbsp;&nbsp;&nbsp;&nbsp;629801 |
| Resorts World Las Vegas LLC<br> 8.450%, 07/27/2030 (A) | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;593504 |
| Sabre GLBL, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;8.625%, 06/01/2027 (A) | &nbsp;&nbsp;205000 | &nbsp;&nbsp;&nbsp;&nbsp;209869 |
| &nbsp;&nbsp;&nbsp;10.750%, 11/15/2029 (A) | &nbsp;&nbsp;470000 | &nbsp;&nbsp;&nbsp;&nbsp;482947 |
| &nbsp;&nbsp;&nbsp;11.125%, 07/15/2030 (A) | &nbsp;&nbsp;752000 | &nbsp;&nbsp;&nbsp;&nbsp;786592 |
| Saks Global Enterprises LLC<br> 11.000%, 12/15/2029 (A) | &nbsp;&nbsp;472000 | &nbsp;&nbsp;&nbsp;&nbsp;177000 |
| Sotheby's<br> 7.375%, 10/15/2027 (A) | &nbsp;&nbsp;633000 | &nbsp;&nbsp;&nbsp;&nbsp;625713 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 32 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### High Yield Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Consumer discretionary (continued)** |  |  |
| The Goodyear Tire & Rubber Company<br> 5.000%, 07/15/2029 | $486000 | $&nbsp;&nbsp;&nbsp;&nbsp;475018 |
| The Michaels Companies, Inc.<br> 7.875%, 05/01/2029 (A) | 722000 | &nbsp;&nbsp;&nbsp;&nbsp;472910 |
| Wand NewCo 3, Inc.<br> 7.625%, 01/30/2032 (A) | 437000 | &nbsp;&nbsp;&nbsp;&nbsp;459256 |
| Wayfair LLC |  |  |
| &nbsp;&nbsp;&nbsp;7.250%, 10/31/2029 (A) | 266000 | &nbsp;&nbsp;&nbsp;&nbsp;266119 |
| &nbsp;&nbsp;&nbsp;7.750%, 09/15/2030 (A) | 641000 | &nbsp;&nbsp;&nbsp;&nbsp;644978 |
| Whirlpool Corp.<br> 6.125%, 06/15/2030 | 537000 | &nbsp;&nbsp;&nbsp;&nbsp;541720 |
| Wyndham Hotels & Resorts, Inc.<br> 4.375%, 08/15/2028 (A) | 565000 | &nbsp;&nbsp;&nbsp;&nbsp;552719 |
| Yum! Brands, Inc.<br> 5.375%, 04/01/2032 | 556000 | &nbsp;&nbsp;&nbsp;&nbsp;556410 |
| ZF North America Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.750%, 04/23/2030 (A) | 555000 | &nbsp;&nbsp;&nbsp;&nbsp;532974 |
| &nbsp;&nbsp;&nbsp;6.875%, 04/14/2028 (A) | 900000 | &nbsp;&nbsp;&nbsp;&nbsp;902722 |
| &nbsp;&nbsp;&nbsp;7.125%, 04/14/2030 (A) | 272000 | &nbsp;&nbsp;&nbsp;&nbsp;265947 |
|  |  | 27202307 |
| **Consumer staples – 3.6%** |  |  |
| Albertsons Companies, Inc.<br> 6.500%, 02/15/2028 (A) | 535000 | &nbsp;&nbsp;&nbsp;&nbsp;547748 |
| Edgewell Personal Care Company |  |  |
| &nbsp;&nbsp;&nbsp;4.125%, 04/01/2029 (A) | 486000 | &nbsp;&nbsp;&nbsp;&nbsp;459073 |
| &nbsp;&nbsp;&nbsp;5.500%, 06/01/2028 (A) | 552000 | &nbsp;&nbsp;&nbsp;&nbsp;549210 |
| HLF Financing Sarl LLC<br> 12.250%, 04/15/2029 (A) | 427000 | &nbsp;&nbsp;&nbsp;&nbsp;464610 |
| Lamb Weston Holdings, Inc.<br> 4.125%, 01/31/2030 (A) | 588000 | &nbsp;&nbsp;&nbsp;&nbsp;560715 |
| Opal Bidco SAS<br> 6.500%, 03/31/2032 (A) | 613000 | &nbsp;&nbsp;&nbsp;&nbsp;625636 |
| Performance Food Group, Inc.<br> 4.250%, 08/01/2029 (A) | 578000 | &nbsp;&nbsp;&nbsp;&nbsp;557336 |
| Post Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.500%, 12/15/2029 (A) | 465000 | &nbsp;&nbsp;&nbsp;&nbsp;462868 |
| &nbsp;&nbsp;&nbsp;6.375%, 03/01/2033 (A) | 462000 | &nbsp;&nbsp;&nbsp;&nbsp;466212 |
| Simmons Foods, Inc.<br> 4.625%, 03/01/2029 (A) | 379000 | &nbsp;&nbsp;&nbsp;&nbsp;357842 |
| US Foods, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.750%, 02/15/2029 (A) | 470000 | &nbsp;&nbsp;&nbsp;&nbsp;461754 |
| &nbsp;&nbsp;&nbsp;5.750%, 04/15/2033 (A) | 372000 | &nbsp;&nbsp;&nbsp;&nbsp;371610 |
| Walgreens Boots Alliance, Inc.<br> 8.125%, 08/15/2029 (B) | 537000 | &nbsp;&nbsp;&nbsp;&nbsp;569529 |
|  |  | &nbsp;&nbsp;&nbsp;6454143 |
| **Energy – 12.9%** |  |  |
| Antero Midstream Partners LP<br> 5.375%, 06/15/2029 (A) | 647000 | &nbsp;&nbsp;&nbsp;&nbsp;642139 |
| Archrock Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;6.250%, 04/01/2028 (A) | 176000 | &nbsp;&nbsp;&nbsp;&nbsp;176583 |
| &nbsp;&nbsp;&nbsp;6.625%, 09/01/2032 (A) | 627000 | &nbsp;&nbsp;&nbsp;&nbsp;638811 |
| Ascent Resources Utica Holdings LLC<br> 5.875%, 06/30/2029 (A) | 586000 | &nbsp;&nbsp;&nbsp;&nbsp;586996 |
| Blue Racer Midstream LLC<br> 7.000%, 07/15/2029 (A) | 441000 | &nbsp;&nbsp;&nbsp;&nbsp;460254 |
| Buckeye Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;6.750%, 02/01/2030 (A) | 179000 | &nbsp;&nbsp;&nbsp;&nbsp;185809 |
| &nbsp;&nbsp;&nbsp;6.875%, 07/01/2029 (A) | 532000 | &nbsp;&nbsp;&nbsp;&nbsp;551164 |
| Civitas Resources, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;8.750%, 07/01/2031 (A) | 570000 | &nbsp;&nbsp;&nbsp;&nbsp;576332 |
| &nbsp;&nbsp;&nbsp;9.625%, 06/15/2033 (A) | 347000 | &nbsp;&nbsp;&nbsp;&nbsp;355738 |
| CNX Resources Corp.<br> 6.000%, 01/15/2029 (A) | 457000 | &nbsp;&nbsp;&nbsp;&nbsp;458839 |
| Crescent Energy Finance LLC<br> 8.375%, 01/15/2034 (A) | 878000 | &nbsp;&nbsp;&nbsp;&nbsp;878548 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Energy (continued)** |  |  |
| Delek Logistics Partners LP<br> 7.125%, 06/01/2028 (A) | $&nbsp;&nbsp;363000 | $&nbsp;&nbsp;&nbsp;&nbsp;364497 |
| Enbridge, Inc.<br> 8.500%, (8.500% to 1-15-34, then 5 Year CMT + 4.431% to 1-15-54, then 5 Year CMT + 5.181%), 01/15/2084 | 1885000 | &nbsp;&nbsp;&nbsp;2098694 |
| Energy Transfer LP<br> 7.125%, (7.125% to 5-15-30, then 5 Year CMT + 5.306%), 05/15/2030 (D) | &nbsp;&nbsp;986000 | &nbsp;&nbsp;&nbsp;1004403 |
| Excelerate Energy LP<br> 8.000%, 05/15/2030 (A) | &nbsp;&nbsp;470000 | &nbsp;&nbsp;&nbsp;&nbsp;495454 |
| Genesis Energy LP |  |  |
| &nbsp;&nbsp;&nbsp;8.000%, 05/15/2033 | &nbsp;&nbsp;453000 | &nbsp;&nbsp;&nbsp;&nbsp;473621 |
| &nbsp;&nbsp;&nbsp;8.250%, 01/15/2029 | &nbsp;&nbsp;745000 | &nbsp;&nbsp;&nbsp;&nbsp;779039 |
| Global Partners LP<br> 7.125%, 07/01/2033 (A) | &nbsp;&nbsp;186000 | &nbsp;&nbsp;&nbsp;&nbsp;188607 |
| Hilcorp Energy I LP<br> 5.750%, 02/01/2029 (A) | &nbsp;&nbsp;383000 | &nbsp;&nbsp;&nbsp;&nbsp;378016 |
| Howard Midstream Energy Partners LLC |  |  |
| &nbsp;&nbsp;&nbsp;7.375%, 07/15/2032 (A) | &nbsp;&nbsp;349000 | &nbsp;&nbsp;&nbsp;&nbsp;367043 |
| &nbsp;&nbsp;&nbsp;8.875%, 07/15/2028 (A) | &nbsp;&nbsp;514000 | &nbsp;&nbsp;&nbsp;&nbsp;539618 |
| Kinetik Holdings LP<br> 6.625%, 12/15/2028 (A) | &nbsp;&nbsp;178000 | &nbsp;&nbsp;&nbsp;&nbsp;182057 |
| Long Ridge Energy LLC<br> 8.750%, 02/15/2032 (A) | &nbsp;&nbsp;423000 | &nbsp;&nbsp;&nbsp;&nbsp;439393 |
| MEG Energy Corp.<br> 5.875%, 02/01/2029 (A) | &nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;549439 |
| Parkland Corp.<br> 5.875%, 07/15/2027 (A) | &nbsp;&nbsp;635000 | &nbsp;&nbsp;&nbsp;&nbsp;635375 |
| Permian Resources Operating LLC<br> 7.000%, 01/15/2032 (A) | &nbsp;&nbsp;485000 | &nbsp;&nbsp;&nbsp;&nbsp;502791 |
| Rockies Express Pipeline LLC<br> 6.750%, 03/15/2033 (A) | &nbsp;&nbsp;535000 | &nbsp;&nbsp;&nbsp;&nbsp;558363 |
| Sitio Royalties Operating Partnership LP<br> 7.875%, 11/01/2028 (A) | &nbsp;&nbsp;435000 | &nbsp;&nbsp;&nbsp;&nbsp;455475 |
| SM Energy Company<br> 7.000%, 08/01/2032 (A)(B) | &nbsp;&nbsp;539000 | &nbsp;&nbsp;&nbsp;&nbsp;531127 |
| South Bow Canadian Infrastructure Holdings, Ltd.<br> 7.500%, (7.500% to 3-1-35, then 5 Year CMT + 3.667%), 03/01/2055 (A) | &nbsp;&nbsp;352000 | &nbsp;&nbsp;&nbsp;&nbsp;363175 |
| Sunoco LP |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 04/30/2030 | &nbsp;&nbsp;384000 | &nbsp;&nbsp;&nbsp;&nbsp;369217 |
| &nbsp;&nbsp;&nbsp;6.000%, 04/15/2027 | &nbsp;&nbsp;452000 | &nbsp;&nbsp;&nbsp;&nbsp;451877 |
| USA Compression Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;6.875%, 09/01/2027 | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;350704 |
| &nbsp;&nbsp;&nbsp;7.125%, 03/15/2029 (A) | &nbsp;&nbsp;184000 | &nbsp;&nbsp;&nbsp;&nbsp;188587 |
| Valaris Ltd.<br> 8.375%, 04/30/2030 (A) | &nbsp;&nbsp;180000 | &nbsp;&nbsp;&nbsp;&nbsp;184675 |
| Venture Global Calcasieu Pass LLC<br> 6.250%, 01/15/2030 (A) | &nbsp;&nbsp;445000 | &nbsp;&nbsp;&nbsp;&nbsp;458962 |
| Venture Global LNG, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;7.000%, 01/15/2030 (A) | &nbsp;&nbsp;531000 | &nbsp;&nbsp;&nbsp;&nbsp;536795 |
| &nbsp;&nbsp;&nbsp;9.000%, (9.000% to 9-30-29, then 5 Year CMT + 5.440%), 09/30/2029 (A)(D) | 1954000 | &nbsp;&nbsp;&nbsp;1899676 |
| &nbsp;&nbsp;&nbsp;9.500%, 02/01/2029 (A) | 1132000 | &nbsp;&nbsp;&nbsp;1233176 |
| Venture Global Plaquemines LNG LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.500%, 01/15/2034 (A) | &nbsp;&nbsp;213000 | &nbsp;&nbsp;&nbsp;&nbsp;213000 |
| &nbsp;&nbsp;&nbsp;7.500%, 05/01/2033 (A) | &nbsp;&nbsp;866000 | &nbsp;&nbsp;&nbsp;&nbsp;927333 |
|  |  | 23231402 |
| **Financials – 13.2%** |  |  |
| Accelerate360 Holdings LLC<br> 11.000%, (11.000% Cash or 12.500% PIK), 12/01/2031 (A) | 1620284 | &nbsp;&nbsp;&nbsp;1745856 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 33 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### High Yield Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| Acrisure LLC |  |  |
| &nbsp;&nbsp;&nbsp;7.500%, 11/06/2030 (A) | $&nbsp;&nbsp;790000 | $&nbsp;&nbsp;&nbsp;&nbsp;816097 |
| &nbsp;&nbsp;&nbsp;8.500%, 06/15/2029 (A) | &nbsp;&nbsp;346000 | &nbsp;&nbsp;&nbsp;&nbsp;360816 |
| Alliant Holdings Intermediate LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.750%, 04/15/2028 (A) | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;406642 |
| &nbsp;&nbsp;&nbsp;7.000%, 01/15/2031 (A) | &nbsp;&nbsp;536000 | &nbsp;&nbsp;&nbsp;&nbsp;554444 |
| &nbsp;&nbsp;&nbsp;7.375%, 10/01/2032 (A) | &nbsp;&nbsp;446000 | &nbsp;&nbsp;&nbsp;&nbsp;459743 |
| Baldwin Insurance Group Holdings LLC<br> 7.125%, 05/15/2031 (A) | &nbsp;&nbsp;242000 | &nbsp;&nbsp;&nbsp;&nbsp;251581 |
| Bank of Montreal<br> 7.700%, (7.700% to 5-26-29, then 5 Year CMT + 3.452%), 05/26/2084 | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;206517 |
| Barclays PLC<br> 8.000%, (8.000% to 9-15-29, then 5 Year CMT + 5.431%), 03/15/2029 (D) | &nbsp;&nbsp;789000 | &nbsp;&nbsp;&nbsp;&nbsp;827603 |
| Blackstone Mortgage Trust, Inc.<br> 7.750%, 12/01/2029 (A) | &nbsp;&nbsp;614000 | &nbsp;&nbsp;&nbsp;&nbsp;653120 |
| Block, Inc.<br> 3.500%, 06/01/2031 | &nbsp;&nbsp;814000 | &nbsp;&nbsp;&nbsp;&nbsp;746656 |
| BNP Paribas SA |  |  |
| &nbsp;&nbsp;&nbsp;8.000%, (8.000% to 8-22-31, then 5 Year CMT + 3.727%), 08/22/2031 (A)(D) | &nbsp;&nbsp;784000 | &nbsp;&nbsp;&nbsp;&nbsp;828980 |
| &nbsp;&nbsp;&nbsp;9.250%, (9.250% to 11-17-27, then 5 Year CMT + 4.969%), 11/17/2027 (A)(B)(D) | &nbsp;&nbsp;423000 | &nbsp;&nbsp;&nbsp;&nbsp;453215 |
| Boost Newco Borrower LLC<br> 7.500%, 01/15/2031 (A) | &nbsp;&nbsp;518000 | &nbsp;&nbsp;&nbsp;&nbsp;549865 |
| Bread Financial Holdings, Inc.<br> 8.375%, (8.375% to 6-15-30, then 5 Year CMT + 4.300%), 06/15/2035 (A) | &nbsp;&nbsp;179000 | &nbsp;&nbsp;&nbsp;&nbsp;180230 |
| Brookfield Finance, Inc.<br> 6.300%, (6.300% to 1-15-35, then 5 Year CMT + 2.076%), 01/15/2055 | &nbsp;&nbsp;380000 | &nbsp;&nbsp;&nbsp;&nbsp;363641 |
| Comerica, Inc.<br> 5.982%, (5.982% to 1-30-29, then Overnight SOFR + 2.155%), 01/30/2030 | &nbsp;&nbsp;628000 | &nbsp;&nbsp;&nbsp;&nbsp;643255 |
| Credit Acceptance Corp.<br> 6.625%, 03/15/2030 (A) | &nbsp;&nbsp;299000 | &nbsp;&nbsp;&nbsp;&nbsp;302688 |
| Enact Holdings, Inc.<br> 6.250%, 05/28/2029 | &nbsp;&nbsp;887000 | &nbsp;&nbsp;&nbsp;&nbsp;920381 |
| F&G Annuities & Life, Inc.<br> 6.250%, 10/04/2034 | &nbsp;&nbsp;833000 | &nbsp;&nbsp;&nbsp;&nbsp;824656 |
| Focus Financial Partners LLC<br> 6.750%, 09/15/2031 (A) | &nbsp;&nbsp;826000 | &nbsp;&nbsp;&nbsp;&nbsp;843151 |
| Freedom Mortgage Corp.<br> 12.250%, 10/01/2030 (A) | &nbsp;&nbsp;768000 | &nbsp;&nbsp;&nbsp;&nbsp;851611 |
| Global Atlantic Financial Company<br> 7.950%, (7.950% to 10-15-29, then 5 Year CMT + 3.608%), 10/15/2054 (A) | &nbsp;&nbsp;522000 | &nbsp;&nbsp;&nbsp;&nbsp;543443 |
| goeasy, Ltd.<br> 7.375%, 10/01/2030 (A) | &nbsp;&nbsp;607000 | &nbsp;&nbsp;&nbsp;&nbsp;620238 |
| Howden UK Refinance PLC<br> 7.250%, 02/15/2031 (A) | &nbsp;&nbsp;620000 | &nbsp;&nbsp;&nbsp;&nbsp;642021 |
| HUB International, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;7.250%, 06/15/2030 (A) | &nbsp;&nbsp;878000 | &nbsp;&nbsp;&nbsp;&nbsp;917541 |
| &nbsp;&nbsp;&nbsp;7.375%, 01/31/2032 (A) | &nbsp;&nbsp;441000 | &nbsp;&nbsp;&nbsp;&nbsp;461431 |
| Nationstar Mortgage Holdings, Inc.<br> 6.500%, 08/01/2029 (A) | &nbsp;&nbsp;540000 | &nbsp;&nbsp;&nbsp;&nbsp;551585 |
| OneMain Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.750%, 03/15/2032 | &nbsp;&nbsp;179000 | &nbsp;&nbsp;&nbsp;&nbsp;182367 |
| &nbsp;&nbsp;&nbsp;7.875%, 03/15/2030 | 1105000 | 1174139 |
| &nbsp;&nbsp;&nbsp;9.000%, 01/15/2029 | &nbsp;&nbsp;361000 | &nbsp;&nbsp;&nbsp;&nbsp;378566 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| Panther Escrow Issuer LLC<br> 7.125%, 06/01/2031 (A) | $&nbsp;&nbsp;796000 | $&nbsp;&nbsp;&nbsp;&nbsp;826846 |
| PennyMac Financial Services, Inc.<br> 6.875%, 05/15/2032 (A) | &nbsp;&nbsp;297000 | &nbsp;&nbsp;&nbsp;&nbsp;303674 |
| PHH Escrow Issuer LLC<br> 9.875%, 11/01/2029 (A) | &nbsp;&nbsp;185000 | &nbsp;&nbsp;&nbsp;&nbsp;184545 |
| Popular, Inc.<br> 7.250%, 03/13/2028 | &nbsp;&nbsp;609000 | &nbsp;&nbsp;&nbsp;&nbsp;647011 |
| Reinsurance Group of America, Inc.<br> 6.650%, (6.650% to 9-15-35, then 5 Year CMT + 2.392%), 09/15/2055 | &nbsp;&nbsp;227000 | &nbsp;&nbsp;&nbsp;&nbsp;226252 |
| Rocket Companies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.125%, 08/01/2030 (A) | &nbsp;&nbsp;456000 | &nbsp;&nbsp;&nbsp;&nbsp;464678 |
| &nbsp;&nbsp;&nbsp;6.375%, 08/01/2033 (A) | &nbsp;&nbsp;383000 | &nbsp;&nbsp;&nbsp;&nbsp;391886 |
| The Toronto-Dominion Bank<br> 7.250%, (7.250% to 7-31-29, then 5 Year CMT + 2.977%), 07/31/2084 (B) | &nbsp;&nbsp;715000 | &nbsp;&nbsp;&nbsp;&nbsp;733772 |
| Walker & Dunlop, Inc.<br> 6.625%, 04/01/2033 (A) | &nbsp;&nbsp;257000 | &nbsp;&nbsp;&nbsp;&nbsp;263742 |
| World Acceptance Corp.<br> 7.000%, 11/01/2026 (A) | &nbsp;&nbsp;456000 | &nbsp;&nbsp;&nbsp;&nbsp;454991 |
|  |  | 23759476 |
| **Health care – 4.9%** |  |  |
| Acadia Healthcare Company, Inc.<br> 7.375%, 03/15/2033 (A)(B) | &nbsp;&nbsp;545000 | &nbsp;&nbsp;&nbsp;&nbsp;561476 |
| AdaptHealth LLC<br> 4.625%, 08/01/2029 (A)(B) | &nbsp;&nbsp;887000 | &nbsp;&nbsp;&nbsp;&nbsp;836124 |
| AMN Healthcare, Inc.<br> 4.000%, 04/15/2029 (A) | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;463524 |
| Bausch Health Companies, Inc.<br> 10.000%, 04/15/2032 (A) | 1258000 | &nbsp;&nbsp;&nbsp;1269033 |
| DaVita, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.750%, 02/15/2031 (A) | &nbsp;&nbsp;619000 | &nbsp;&nbsp;&nbsp;&nbsp;562981 |
| &nbsp;&nbsp;&nbsp;4.625%, 06/01/2030 (A) | &nbsp;&nbsp;779000 | &nbsp;&nbsp;&nbsp;&nbsp;746377 |
| Endo Finance Holdings, Inc.<br> 8.500%, 04/15/2031 (A) | &nbsp;&nbsp;764000 | &nbsp;&nbsp;&nbsp;&nbsp;808738 |
| HealthEquity, Inc.<br> 4.500%, 10/01/2029 (A) | &nbsp;&nbsp;765000 | &nbsp;&nbsp;&nbsp;&nbsp;743796 |
| Medline Borrower LP<br> 6.250%, 04/01/2029 (A) | &nbsp;&nbsp;444000 | &nbsp;&nbsp;&nbsp;&nbsp;456114 |
| Organon & Company<br> 4.125%, 04/30/2028 (A) | &nbsp;&nbsp;764000 | &nbsp;&nbsp;&nbsp;&nbsp;734794 |
| Raven Acquisition Holdings LLC<br> 6.875%, 11/15/2031 (A) | &nbsp;&nbsp;454000 | &nbsp;&nbsp;&nbsp;&nbsp;454019 |
| Tenet Healthcare Corp.<br> 5.125%, 11/01/2027 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;399360 |
| Varex Imaging Corp.<br> 7.875%, 10/15/2027 (A)(B) | &nbsp;&nbsp;703000 | &nbsp;&nbsp;&nbsp;&nbsp;709317 |
|  |  | &nbsp;&nbsp;&nbsp;8745653 |
| **Industrials – 10.7%** |  |  |
| Albion Financing 1 SARL<br> 7.000%, 05/21/2030 (A) | &nbsp;&nbsp;381000 | &nbsp;&nbsp;&nbsp;&nbsp;388821 |
| Allied Universal Holdco LLC<br> 6.875%, 06/15/2030 (A) | &nbsp;&nbsp;770000 | &nbsp;&nbsp;&nbsp;&nbsp;780444 |
| Amentum Holdings, Inc.<br> 7.250%, 08/01/2032 (A) | &nbsp;&nbsp;267000 | &nbsp;&nbsp;&nbsp;&nbsp;274784 |
| Anagram Holdings LLC<br> 10.000%, (0.000% Cash and 10.000% PIK), 08/15/2026 (A)(C)(E) | &nbsp;&nbsp;&nbsp;&nbsp;96052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Arcosa, Inc.<br> 4.375%, 04/15/2029 (A) | &nbsp;&nbsp;480000 | &nbsp;&nbsp;&nbsp;&nbsp;464325 |
| Axon Enterprise, Inc.<br> 6.250%, 03/15/2033 (A) | &nbsp;&nbsp;180000 | &nbsp;&nbsp;&nbsp;&nbsp;185339 |
| Boise Cascade Company<br> 4.875%, 07/01/2030 (A)(B) | &nbsp;&nbsp;477000 | &nbsp;&nbsp;&nbsp;&nbsp;464092 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 34 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### High Yield Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Industrials (continued)** |  |  |
| Brundage-Bone Concrete Pumping Holdings, Inc.<br> 7.500%, 02/01/2032 (A) | $447000 | $443062 |
| Builders FirstSource, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.250%, 02/01/2032 (A) | 201000 | 186218 |
| &nbsp;&nbsp;&nbsp;6.375%, 06/15/2032 (A) | 535000 | 549856 |
| &nbsp;&nbsp;&nbsp;6.750%, 05/15/2035 (A) | 355000 | 365513 |
| CACI International, Inc.<br> 6.375%, 06/15/2033 (A) | 350000 | 361182 |
| Cimpress PLC<br> 7.375%, 09/15/2032 (A) | &nbsp;&nbsp;91000 | &nbsp;&nbsp;&nbsp;86860 |
| Clean Harbors, Inc.<br> 6.375%, 02/01/2031 (A) | 357000 | 365755 |
| Dycom Industries, Inc.<br> 4.500%, 04/15/2029 (A) | 572000 | 556724 |
| EMRLD Borrower LP |  |  |
| &nbsp;&nbsp;&nbsp;6.625%, 12/15/2030 (A) | 536000 | 547884 |
| &nbsp;&nbsp;&nbsp;6.750%, 07/15/2031 (A) | 535000 | 553722 |
| Enpro, Inc.<br> 6.125%, 06/01/2033 (A) | 373000 | 381326 |
| Fortress Transportation and Infrastructure Investors LLC<br> 7.000%, 06/15/2032 (A) | 373000 | 385133 |
| Garda World Security Corp. |  |  |
| &nbsp;&nbsp;&nbsp;8.250%, 08/01/2032 (A) | 352000 | 361223 |
| &nbsp;&nbsp;&nbsp;8.375%, 11/15/2032 (A) | 264000 | 271183 |
| Global Infrastructure Solutions, Inc.<br> 5.625%, 06/01/2029 (A) | 559000 | 556946 |
| Herc Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.625%, 06/15/2029 (A) | 355000 | 364230 |
| &nbsp;&nbsp;&nbsp;7.000%, 06/15/2030 (A) | 360000 | 375820 |
| JELD-WEN, Inc.<br> 7.000%, 09/01/2032 (A)(B) | 758000 | 593476 |
| JetBlue Airways Corp.<br> 9.875%, 09/20/2031 (A)(B) | 892000 | 867810 |
| Miter Brands Acquisition Holdco, Inc.<br> 6.750%, 04/01/2032 (A) | 269000 | 275902 |
| OneSky Flight LLC<br> 8.875%, 12/15/2029 (A) | 441000 | 459187 |
| Stanley Black & Decker, Inc.<br> 6.707%, (6.707% to 3-15-30, then 5 Year CMT + 2.657%), 03/15/2060 | 548000 | 535324 |
| The Brink's Company<br> 6.500%, 06/15/2029 (A) | 178000 | 183481 |
| The GEO Group, Inc.<br> 10.250%, 04/15/2031 | 907000 | 994760 |
| TK Elevator U.S. Newco, Inc.<br> 5.250%, 07/15/2027 (A) | 549000 | 548615 |
| TransDigm, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.375%, 03/01/2029 (A) | 546000 | 560164 |
| &nbsp;&nbsp;&nbsp;7.125%, 12/01/2031 (A) | 439000 | 459948 |
| TriNet Group, Inc.<br> 7.125%, 08/15/2031 (A) | 620000 | 645789 |
| United Airlines, Inc.<br> 4.625%, 04/15/2029 (A) | 565000 | 548426 |
| United Rentals North America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 02/15/2031 | 498000 | 468298 |
| &nbsp;&nbsp;&nbsp;4.000%, 07/15/2030 | 588000 | 561115 |
| Vertiv Group Corp.<br> 4.125%, 11/15/2028 (A) | 187000 | 182322 |
| VT Topco, Inc.<br> 8.500%, 08/15/2030 (A) | 599000 | 631580 |
| Watco Companies LLC<br> 7.125%, 08/01/2032 (A) | 200000 | 209063 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Industrials (continued)** |  |  |
| WESCO Distribution, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.375%, 03/15/2029 (A) | $&nbsp;&nbsp;714000 | $&nbsp;&nbsp;&nbsp;&nbsp;734586 |
| &nbsp;&nbsp;&nbsp;6.375%, 03/15/2033 (A) | &nbsp;&nbsp;183000 | &nbsp;&nbsp;&nbsp;&nbsp;189145 |
| &nbsp;&nbsp;&nbsp;7.250%, 06/15/2028 (A) | &nbsp;&nbsp;322000 | &nbsp;&nbsp;&nbsp;&nbsp;325998 |
|  |  | 19245431 |
| **Information technology – 4.3%** |  |  |
| Cloud Software Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;8.250%, 06/30/2032 (A) | &nbsp;&nbsp;487000 | &nbsp;&nbsp;&nbsp;&nbsp;518280 |
| &nbsp;&nbsp;&nbsp;9.000%, 09/30/2029 (A) | 1247000 | &nbsp;&nbsp;&nbsp;1292547 |
| Consensus Cloud Solutions, Inc.<br> 6.500%, 10/15/2028 (A) | &nbsp;&nbsp;634000 | &nbsp;&nbsp;&nbsp;&nbsp;630771 |
| CoreWeave, Inc.<br> 9.250%, 06/01/2030 (A) | &nbsp;&nbsp;241000 | &nbsp;&nbsp;&nbsp;&nbsp;246382 |
| Diebold Nixdorf, Inc.<br> 7.750%, 03/31/2030 (A) | &nbsp;&nbsp;262000 | &nbsp;&nbsp;&nbsp;&nbsp;277955 |
| EchoStar Corp.<br> 10.750%, 11/30/2029 | &nbsp;&nbsp;420000 | &nbsp;&nbsp;&nbsp;&nbsp;432600 |
| Insight Enterprises, Inc.<br> 6.625%, 05/15/2032 (A) | &nbsp;&nbsp;179000 | &nbsp;&nbsp;&nbsp;&nbsp;184394 |
| NCR Voyix Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, 04/15/2029 (A) | &nbsp;&nbsp;188000 | &nbsp;&nbsp;&nbsp;&nbsp;185168 |
| &nbsp;&nbsp;&nbsp;5.250%, 10/01/2030 (A) | &nbsp;&nbsp;557000 | &nbsp;&nbsp;&nbsp;&nbsp;536113 |
| ON Semiconductor Corp.<br> 3.875%, 09/01/2028 (A) | &nbsp;&nbsp;675000 | &nbsp;&nbsp;&nbsp;&nbsp;652981 |
| Seagate HDD Cayman |  |  |
| &nbsp;&nbsp;&nbsp;5.750%, 12/01/2034 | &nbsp;&nbsp;647000 | &nbsp;&nbsp;&nbsp;&nbsp;637640 |
| &nbsp;&nbsp;&nbsp;8.250%, 12/15/2029 | &nbsp;&nbsp;253000 | &nbsp;&nbsp;&nbsp;&nbsp;269444 |
| UKG, Inc.<br> 6.875%, 02/01/2031 (A) | &nbsp;&nbsp;777000 | &nbsp;&nbsp;&nbsp;&nbsp;806196 |
| Virtusa Corp.<br> 7.125%, 12/15/2028 (A) | &nbsp;&nbsp;561000 | &nbsp;&nbsp;&nbsp;&nbsp;534691 |
| Xerox Holdings Corp.<br> 5.500%, 08/15/2028 (A) | &nbsp;&nbsp;415000 | &nbsp;&nbsp;&nbsp;&nbsp;316584 |
| Zebra Technologies Corp.<br> 6.500%, 06/01/2032 (A) | &nbsp;&nbsp;201000 | &nbsp;&nbsp;&nbsp;&nbsp;206684 |
|  |  | &nbsp;&nbsp;&nbsp;7728430 |
| **Materials – 5.3%** |  |  |
| Alcoa Nederland Holding BV<br> 4.125%, 03/31/2029 (A)(B) | &nbsp;&nbsp;483000 | &nbsp;&nbsp;&nbsp;&nbsp;460390 |
| Amsted Industries, Inc.<br> 6.375%, 03/15/2033 (A) | &nbsp;&nbsp;183000 | &nbsp;&nbsp;&nbsp;&nbsp;186013 |
| Ardagh Metal Packaging Finance USA LLC<br> 6.000%, 06/15/2027 (A) | &nbsp;&nbsp;637000 | &nbsp;&nbsp;&nbsp;&nbsp;638957 |
| Ardagh Packaging Finance PLC<br> 4.125%, 08/15/2026 (A)(B) | &nbsp;&nbsp;970000 | &nbsp;&nbsp;&nbsp;&nbsp;910704 |
| Ashland, Inc.<br> 6.875%, 05/15/2043 | &nbsp;&nbsp;435000 | &nbsp;&nbsp;&nbsp;&nbsp;450948 |
| Celanese US Holdings LLC<br> 7.050%, 11/15/2030 | &nbsp;&nbsp;684000 | &nbsp;&nbsp;&nbsp;&nbsp;719880 |
| Champion Iron Canada, Inc.<br> 7.875%, 07/15/2032 (A) | &nbsp;&nbsp;138000 | &nbsp;&nbsp;&nbsp;&nbsp;139916 |
| Cleveland-Cliffs, Inc.<br> 7.500%, 09/15/2031 (A) | &nbsp;&nbsp;549000 | &nbsp;&nbsp;&nbsp;&nbsp;529486 |
| Clydesdale Acquisition Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.750%, 04/15/2032 (A) | &nbsp;&nbsp;285000 | &nbsp;&nbsp;&nbsp;&nbsp;292487 |
| &nbsp;&nbsp;&nbsp;6.875%, 01/15/2030 (A) | &nbsp;&nbsp;616000 | &nbsp;&nbsp;&nbsp;&nbsp;629723 |
| &nbsp;&nbsp;&nbsp;8.750%, 04/15/2030 (A) | &nbsp;&nbsp;266000 | &nbsp;&nbsp;&nbsp;&nbsp;272071 |
| First Quantum Minerals, Ltd.<br> 9.375%, 03/01/2029 (A) | &nbsp;&nbsp;341000 | &nbsp;&nbsp;&nbsp;&nbsp;361919 |
| FMG Resources August 2006 Proprietary, Ltd.<br> 4.500%, 09/15/2027 (A) | &nbsp;&nbsp;278000 | &nbsp;&nbsp;&nbsp;&nbsp;274659 |
| Magnera Corp.<br> 7.250%, 11/15/2031 (A)(B) | &nbsp;&nbsp;828000 | &nbsp;&nbsp;&nbsp;&nbsp;780721 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 35 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### High Yield Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Materials (continued)** |  |  |
| Midwest Vanadium Proprietary, Ltd.<br> 11.500%, 02/15/2018 (A)(C) | $&nbsp;&nbsp;912943 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;913 |
| Northwest Acquisitions ULC<br> 7.125%, 11/01/2022 (A)(C) | &nbsp;&nbsp;950000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 |
| Novelis Corp.<br> 4.750%, 01/30/2030 (A) | &nbsp;&nbsp;581000 | &nbsp;&nbsp;&nbsp;&nbsp;556706 |
| Owens-Brockway Glass Container, Inc.<br> 7.250%, 05/15/2031 (A) | &nbsp;&nbsp;907000 | &nbsp;&nbsp;&nbsp;&nbsp;929504 |
| Quikrete Holdings, Inc.<br> 6.375%, 03/01/2032 (A) | &nbsp;&nbsp;130000 | &nbsp;&nbsp;&nbsp;&nbsp;133682 |
| Sealed Air Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.125%, 02/01/2028 (A) | &nbsp;&nbsp;269000 | &nbsp;&nbsp;&nbsp;&nbsp;272944 |
| &nbsp;&nbsp;&nbsp;6.875%, 07/15/2033 (A) | &nbsp;&nbsp;432000 | &nbsp;&nbsp;&nbsp;&nbsp;466407 |
| The Scotts Miracle-Gro Company<br> 4.000%, 04/01/2031 | &nbsp;&nbsp;409000 | &nbsp;&nbsp;&nbsp;&nbsp;375668 |
| Trivium Packaging Finance BV<br> 8.250%, 07/15/2030 (A) | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;211497 |
|  |  | 9595205 |
| **Real estate – 2.7%** |  |  |
| Anywhere Real Estate Group LLC |  |  |
| &nbsp;&nbsp;&nbsp;7.000%, 04/15/2030 (A)(B) | &nbsp;&nbsp;787157 | &nbsp;&nbsp;&nbsp;&nbsp;735395 |
| &nbsp;&nbsp;&nbsp;9.750%, 04/15/2030 (A) | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;355640 |
| Diversified Healthcare Trust<br> 5.684%, 01/15/2026 (A)(F) | &nbsp;&nbsp;389000 | &nbsp;&nbsp;&nbsp;&nbsp;377292 |
| Fideicomiso Irrevocable de Emision, Administracion y Fuente de Pago Numero CIB/4323<br> 13.000%, (11.000% Cash and 2.000% PIK), 09/12/2030 (A) | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;160250 |
| Greystar Real Estate Partners LLC<br> 7.750%, 09/01/2030 (A) | &nbsp;&nbsp;514000 | &nbsp;&nbsp;&nbsp;&nbsp;545577 |
| Iron Mountain Information Management Services, Inc.<br> 5.000%, 07/15/2032 (A) | &nbsp;&nbsp;583000 | &nbsp;&nbsp;&nbsp;&nbsp;559020 |
| Iron Mountain, Inc.<br> 4.875%, 09/15/2029 (A) | 1136000 | 1116027 |
| Uniti Group LP<br> 10.500%, 02/15/2028 (A) | &nbsp;&nbsp;533000 | &nbsp;&nbsp;&nbsp;&nbsp;565003 |
| XHR LP<br> 6.625%, 05/15/2030 (A) | &nbsp;&nbsp;323000 | &nbsp;&nbsp;&nbsp;&nbsp;329094 |
|  |  | 4743298 |
| **Utilities – 3.8%** |  |  |
| Alpha Generation LLC<br> 6.750%, 10/15/2032 (A) | &nbsp;&nbsp;358000 | &nbsp;&nbsp;&nbsp;&nbsp;369043 |
| AltaGas, Ltd.<br> 7.200%, (7.200% to 10-15-34, then 5 Year CMT + 3.573%), 10/15/2054 (A) | &nbsp;&nbsp;629000 | &nbsp;&nbsp;&nbsp;&nbsp;629139 |
| Calpine Corp.<br> 4.500%, 02/15/2028 (A) | &nbsp;&nbsp;649000 | &nbsp;&nbsp;&nbsp;&nbsp;643739 |
| ContourGlobal Power Holdings SA<br> 6.750%, 02/28/2030 (A) | 1083000 | 1115880 |
| Lightning Power LLC<br> 7.250%, 08/15/2032 (A) | &nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;552537 |
| NRG Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, 02/15/2031 (A) | &nbsp;&nbsp;827000 | &nbsp;&nbsp;&nbsp;&nbsp;761092 |
| &nbsp;&nbsp;&nbsp;10.250%, (10.250% to 3-15-28, then 5 Year CMT + 5.920%), 03/15/2028 (A)(D) | &nbsp;&nbsp;408000 | &nbsp;&nbsp;&nbsp;&nbsp;453056 |
| PG&E Corp.<br> 7.375%, (7.375% to 3-15-30, then 5 Year CMT + 3.883%), 03/15/2055 | &nbsp;&nbsp;458000 | &nbsp;&nbsp;&nbsp;&nbsp;433735 |
| Talen Energy Supply LLC<br> 8.625%, 06/01/2030 (A) | &nbsp;&nbsp;591000 | &nbsp;&nbsp;&nbsp;&nbsp;633355 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Utilities (continued)** |  |  |
| The AES Corp.<br> 7.600%, (7.600% to 1-15-30, then 5 Year CMT + 3.201%), 01/15/2055 | &nbsp;&nbsp;356000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;366538 |
| Vistra Corp.<br> 8.875%, (8.875% to 1-15-29, then 5 Year CMT + 5.045%), 01/15/2029 (A)(D) | &nbsp;&nbsp;844000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;917334 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;6875448 |
| TOTAL CORPORATE BONDS (Cost $169,457,918) |  | $163891014 |
| **TERM LOANS (G) – 5.6%** | **TERM LOANS (G) – 5.6%** |  |
| **Communication services – 2.4%** |  |  |
| Altice France SA, 2023 USD Term Loan B14 (3 month CME Term SOFR + 5.500%) 9.756%, 08/15/2028 | &nbsp;&nbsp;498728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450655 |
| AMC Entertainment Holdings, Inc., 2024 Term Loan (1 month CME Term SOFR + 7.000%) 11.318%, 01/04/2029 | &nbsp;&nbsp;497506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;501859 |
| Arches Buyer, Inc., 2021 Term Loan B (1 month CME Term SOFR + 3.250%) 7.677%, 12/06/2027 | &nbsp;&nbsp;596875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;588889 |
| Gannett Holdings LLC, 2024 Term Loan (3 month CME Term SOFR + 5.000%) 9.325%, 10/15/2029 | &nbsp;&nbsp;400317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;396814 |
| Townsquare Media, Inc., 2025 Term Loan (3 month CME Term SOFR + 5.000%) 9.324%, 02/19/2030 | &nbsp;&nbsp;596250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;530663 |
| X Corp., 2025 Fixed Term Loan 9.500%, 10/26/2029 | 1834000 | &nbsp;&nbsp;&nbsp;&nbsp;1782043 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;4250923 |
| **Consumer discretionary – 1.0%** |  |  |
| Dave & Buster's, Inc., 2024 Term Loan B 06/29/2029 TBD (H) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;966910 |
| J&J Ventures Gaming LLC, 2025 Repriced Term Loan B (1 month CME Term SOFR + 3.500%) 7.827%, 04/26/2030 | &nbsp;&nbsp;897750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;886322 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1853232 |
| **Financials – 0.5%** |  |  |
| Edelman Financial Engines Center LLC, 2024 2nd Lien Term Loan (1 month CME Term SOFR + 5.250%) 9.577%, 10/06/2028 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600750 |
| Truist Insurance Holdings LLC, 2nd Lien Term Loan (3 month CME Term SOFR + 4.750%) 9.046%, 05/06/2032 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303189 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;903939 |
| **Health care – 0.5%** |  |  |
| AthenaHealth Group, Inc., 2022 Term Loan B (1 month CME Term SOFR + 2.750%) 7.077%, 02/15/2029 | &nbsp;&nbsp;897750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;896350 |
| **Industrials – 0.6%** |  |  |
| Anticimex Global AB, 2024 Term Loan B6 (3 month CME Term SOFR + 3.400%) 7.660%, 11/16/2028 | &nbsp;&nbsp;171138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171609 |
| Garda World Security Corp., 2025 Term Loan B (1 month CME Term SOFR + 3.000%) 7.314%, 02/01/2029 | &nbsp;&nbsp;897750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;898244 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1069853 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 36 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### High Yield Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **TERM LOANS (G) (continued)** | **TERM LOANS (G) (continued)** |  |
| **Information technology – 0.2%** |  |  |
| Xerox Corp., 2023 Term Loan B (1 and 3 month CME Term SOFR + 4.000%) 8.305%, 11/17/2029 | &nbsp;&nbsp;&nbsp;&nbsp;402512 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;387543 |
| **Materials – 0.4%** |  |  |
| Arctic Canadian Diamond Company, Ltd., 2nd Lien PIK Term Loan (10.000% Cash or 12.500% PIK) 10.000%, 12/31/2027 (E) | &nbsp;&nbsp;&nbsp;&nbsp;488697 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;466364 |
| Trinseo Materials Operating SCA, 2021 Term Loan B2 (3 month CME Term SOFR + 2.500%) 7.090%, 05/03/2028 | &nbsp;&nbsp;&nbsp;&nbsp;746114 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;318859 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;785223 |
| TOTAL TERM LOANS (Cost $10,453,848) | TOTAL TERM LOANS (Cost $10,453,848) | $&nbsp;&nbsp;&nbsp;10147063 |
| **COMMON STOCKS – 0.0%** |  |  |
| **Communication services – 0.0%** |  |  |
| New Cotai, Inc., Class B (E)(I)(J) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| **Energy – 0.0%** |  |  |
| KCAD Holdings I, Ltd. (E)(I)(J) | 165553563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166 |
| MWO Holdings LLC (E)(J) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Permian Production (E)(J) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19583 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11750 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11916 |
| TOTAL COMMON STOCKS (Cost $1,749,754) | TOTAL COMMON STOCKS (Cost $1,749,754) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11916 |
| **PREFERRED SECURITIES – 0.5%** |  |  |
| **Financials – 0.4%** |  |  |
| Athene Holding, Ltd., 7.250% (7.250% to 3-30-29, then 5 Year CMT + 2.986%) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;721478 |
| **Real estate – 0.1%** |  |  |
| Vornado Realty Trust, 5.400% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5439 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92953 |
| TOTAL PREFERRED SECURITIES (Cost $828,909) | TOTAL PREFERRED SECURITIES (Cost $828,909) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;814431 |
| **ESCROW CERTIFICATES – 0.0%** |  |  |
| Adelphia Communications Corp. (E)(J) | &nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Adelphia Communications Corp. (E)(J) | &nbsp;&nbsp;&nbsp;2050000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Adelphia Communications Corp. (E)(J) | &nbsp;&nbsp;&nbsp;1025000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Magellan Health, Inc. (E)(J) | &nbsp;&nbsp;&nbsp;1930000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Par Pharmaceutical, Inc. (E)(J) | &nbsp;&nbsp;&nbsp;&nbsp;720000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23616 |
| TOTAL ESCROW CERTIFICATES (Cost $338,778) | TOTAL ESCROW CERTIFICATES (Cost $338,778) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23616 |
| **ESCROW SHARES – 0.0%** |  |  |
| Arctic Canadian Diamonds Holding Units (E)(J) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9958 |
| TOTAL ESCROW SHARES (Cost $0) | TOTAL ESCROW SHARES (Cost $0) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9958 |
| **SHORT-TERM INVESTMENTS – 6.3%** | **SHORT-TERM INVESTMENTS – 6.3%** |  |
| **Short-term funds – 6.3%** |  |  |
| John Hancock Collateral Trust, 4.2596% (K)(L) | &nbsp;&nbsp;&nbsp;&nbsp;906054 | &nbsp;&nbsp;&nbsp;&nbsp;9062718 |
| State Street Institutional U.S. Government Money Market Fund, Premier Class, 4.2560% (K) | &nbsp;&nbsp;&nbsp;2192556 | &nbsp;&nbsp;&nbsp;&nbsp;2192556 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $11,255,337) | TOTAL SHORT-TERM INVESTMENTS (Cost $11,255,337) | $&nbsp;&nbsp;&nbsp;11255274 |
| **Total Investments (High Yield Trust)<br> (Cost $194,084,544) – 103.6%** | **Total Investments (High Yield Trust)<br> (Cost $194,084,544) – 103.6%** | $**186153272** |
| **Other assets and liabilities, net – (3.6%)** |  | &nbsp;&nbsp;**(6449540)** |
| **TOTAL NET ASSETS – 100.0%** |  | $**179703732** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| CME | CME Group Published Rates |
| CMT | Constant Maturity Treasury |
| ICE | Intercontinental Exchange |

---

---

| | |
|:---|:---|
| PIK | Pay-in-Kind Security - Represents a payment-in-kind which may pay interest in additional par and/or cash. Rates shown are the current rate and most recent payment rate. |
| SOFR | Secured Overnight Financing Rate |
| (A) | This security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. Rule 144A securities amounted to $136,324,160 or 75.9% of the fund's net assets as of 6-30-25. |
| (B) | All or a portion of this security is on loan as of 6-30-25. |
| (C) | Non-income producing - Issuer is in default. |
| (D) | Perpetual bonds have no stated maturity date. Date shown as maturity date is next call date. |
| (E) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements. |
| (F) | Zero coupon bonds are issued at a discount from their principal amount in lieu of paying interest periodically. Rate shown is the effective yield at period end. |
| (G) | Term loans are variable rate obligations. The rate shown represents the rate at period end. |
| (H) | This position represents an unsettled loan commitment at period end. Certain details associated with this purchase are not known prior to the settlement date, including coupon rate, which is disclosed as TBD (To Be Determined). |
| (I) | Restricted security as to resale, excluding 144A securities. For more information on this security refer to the Notes to financial statements. |
| (J) | Non-income producing security. |
| (K) | The rate shown is the annualized seven-day yield as of 6-30-25. |
| (L) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |

---

#### Investment Quality Bond Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY OBLIGATIONS –<br> 65.4%** | **U.S. GOVERNMENT AND AGENCY OBLIGATIONS –<br> 65.4%** |  |
| **U.S. Government – 33.6%** |  |  |
| U.S. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;1.250%, 05/15/2050 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4170000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2002903 |
| &nbsp;&nbsp;&nbsp;1.875%, 11/15/2051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4890000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2720445 |
| &nbsp;&nbsp;&nbsp;2.250%, 08/15/2046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4745000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3108531 |
| &nbsp;&nbsp;&nbsp;2.500%, 02/15/2045 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1619000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1139751 |
| &nbsp;&nbsp;&nbsp;2.500%, 02/15/2046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;648000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;449044 |
| &nbsp;&nbsp;&nbsp;3.000%, 11/15/2045 to 08/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9722000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7258880 |
| &nbsp;&nbsp;&nbsp;3.125%, 05/15/2048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3205000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2431669 |
| &nbsp;&nbsp;&nbsp;3.375%, 08/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;671469 |
| &nbsp;&nbsp;&nbsp;3.625%, 05/15/2053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;620000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;505688 |
| &nbsp;&nbsp;&nbsp;3.750%, 11/15/2043 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2253000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1968559 |
| &nbsp;&nbsp;&nbsp;4.250%, 08/15/2054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2256000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2060186 |
| &nbsp;&nbsp;&nbsp;4.375%, 11/15/2039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1170000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1146920 |
| U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;1.625%, 05/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4810000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4242195 |
| &nbsp;&nbsp;&nbsp;1.875%, 02/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2731941 |
| &nbsp;&nbsp;&nbsp;2.750%, 08/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2945000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2716763 |
| &nbsp;&nbsp;&nbsp;3.375%, 05/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1025000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;977073 |
| &nbsp;&nbsp;&nbsp;3.875%, 08/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1805000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1777502 |
| &nbsp;&nbsp;&nbsp;4.000%, 12/15/2027 to 02/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6845000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6842012 |
| &nbsp;&nbsp;&nbsp;4.125%, 11/30/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1830000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1848514 |
| &nbsp;&nbsp;&nbsp;4.250%, 11/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6975000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6997887 |
| &nbsp;&nbsp;&nbsp;4.375%, 05/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1895000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1924535 |
| &nbsp;&nbsp;&nbsp;4.500%, 05/15/2027 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3801000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3851037 |
| &nbsp;&nbsp;&nbsp;4.500%, 11/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2525000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2593648 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 37 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Investment Quality Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** | **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** |  |
| **U.S. Government (continued)** |  |  |
| U.S. Treasury Treasury Inflation<br> Protected Securities |  |  |
| &nbsp;&nbsp;&nbsp;0.250%, 02/15/2050 | $&nbsp;&nbsp;1378642 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800206 |
| &nbsp;&nbsp;&nbsp;0.625%, 02/15/2043 | &nbsp;&nbsp;&nbsp;&nbsp;97661 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72561 |
| &nbsp;&nbsp;&nbsp;0.750%, 02/15/2042 to 02/15/2045 | &nbsp;&nbsp;3636797 | &nbsp;&nbsp;&nbsp;&nbsp;2755753 |
| &nbsp;&nbsp;&nbsp;1.000%, 02/15/2046 | &nbsp;&nbsp;&nbsp;&nbsp;399353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;302486 |
| &nbsp;&nbsp;&nbsp;1.375%, 02/15/2044 | &nbsp;&nbsp;1335021 | &nbsp;&nbsp;&nbsp;&nbsp;1120573 |
| &nbsp;&nbsp;&nbsp;1.750%, 01/15/2034 | &nbsp;&nbsp;2624403 | &nbsp;&nbsp;&nbsp;&nbsp;2601426 |
|  |  | &nbsp;&nbsp;&nbsp;69620157 |
| **U.S. Government Agency – 31.8%** |  |  |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, 03/01/2051 | &nbsp;&nbsp;2497813 | &nbsp;&nbsp;&nbsp;&nbsp;1991470 |
| &nbsp;&nbsp;&nbsp;2.500%, 01/01/2052 to 05/01/2052 | &nbsp;&nbsp;3646243 | &nbsp;&nbsp;&nbsp;&nbsp;3035744 |
| &nbsp;&nbsp;&nbsp;3.000%, 12/01/2046 to 04/01/2048 | &nbsp;&nbsp;&nbsp;&nbsp;211809 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187027 |
| &nbsp;&nbsp;&nbsp;3.500%, 03/01/2048 to 06/01/2048 | &nbsp;&nbsp;&nbsp;&nbsp;563002 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;516502 |
| &nbsp;&nbsp;&nbsp;5.000%, 12/01/2034 | &nbsp;&nbsp;&nbsp;&nbsp;53369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53996 |
| &nbsp;&nbsp;&nbsp;5.500%, 05/01/2054 to 07/01/2054 | &nbsp;&nbsp;1759585 | &nbsp;&nbsp;&nbsp;&nbsp;1759712 |
| &nbsp;&nbsp;&nbsp;6.500%, 04/01/2029 to 08/01/2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3501 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3688 |
| &nbsp;&nbsp;&nbsp;7.500%, 12/01/2025 to 05/01/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;326 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, 04/01/2051 to 05/01/2051 | &nbsp;&nbsp;7513043 | &nbsp;&nbsp;&nbsp;&nbsp;5986936 |
| &nbsp;&nbsp;&nbsp;2.500%, TBA (B) | &nbsp;&nbsp;3100000 | &nbsp;&nbsp;&nbsp;&nbsp;2569971 |
| &nbsp;&nbsp;&nbsp;2.500%, 07/01/2030 to 04/01/2050 | &nbsp;&nbsp;1072215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;920797 |
| &nbsp;&nbsp;&nbsp;2.660%, 03/01/2027 | &nbsp;&nbsp;&nbsp;&nbsp;732862 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;715235 |
| &nbsp;&nbsp;&nbsp;3.000%, TBA (B) | &nbsp;&nbsp;1400000 | &nbsp;&nbsp;&nbsp;&nbsp;1210563 |
| &nbsp;&nbsp;&nbsp;3.500%, 08/01/2043 to 05/01/2048 | &nbsp;&nbsp;2493380 | &nbsp;&nbsp;&nbsp;&nbsp;2296752 |
| &nbsp;&nbsp;&nbsp;4.500%, TBA (B) | &nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;1434258 |
| &nbsp;&nbsp;&nbsp;5.000%, 10/01/2054 | &nbsp;&nbsp;2505801 | &nbsp;&nbsp;&nbsp;&nbsp;2456257 |
| &nbsp;&nbsp;&nbsp;5.500%, 11/01/2053 | &nbsp;&nbsp;1761914 | &nbsp;&nbsp;&nbsp;&nbsp;1764655 |
| &nbsp;&nbsp;&nbsp;6.000%, TBA (B) | 19750000 | &nbsp;&nbsp;&nbsp;20068624 |
| Government National<br> Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, 12/20/2050 | &nbsp;&nbsp;2279345 | &nbsp;&nbsp;&nbsp;&nbsp;1858405 |
| &nbsp;&nbsp;&nbsp;3.000%, TBA (B) | &nbsp;&nbsp;2800000 | &nbsp;&nbsp;&nbsp;&nbsp;2474246 |
| &nbsp;&nbsp;&nbsp;3.000%, 04/20/2051 to 05/20/2051 | &nbsp;&nbsp;1827573 | &nbsp;&nbsp;&nbsp;&nbsp;1618489 |
| &nbsp;&nbsp;&nbsp;3.500%, TBA (B) | &nbsp;&nbsp;4200000 | &nbsp;&nbsp;&nbsp;&nbsp;3812542 |
| &nbsp;&nbsp;&nbsp;4.000%, TBA (B) | &nbsp;&nbsp;2600000 | &nbsp;&nbsp;&nbsp;&nbsp;2416234 |
| &nbsp;&nbsp;&nbsp;4.000%, 11/15/2040 to 02/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp;15205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14697 |
| &nbsp;&nbsp;&nbsp;4.500%, 05/20/2052 to 09/20/2052 | &nbsp;&nbsp;3998271 | &nbsp;&nbsp;&nbsp;&nbsp;3861407 |
| &nbsp;&nbsp;&nbsp;5.000%, TBA (B) | &nbsp;&nbsp;2900000 | &nbsp;&nbsp;&nbsp;&nbsp;2847599 |
| &nbsp;&nbsp;&nbsp;6.000%, 08/15/2032 to 04/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp;18832 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19451 |
| &nbsp;&nbsp;&nbsp;6.500%, 06/15/2028 to 02/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6633 |
| &nbsp;&nbsp;&nbsp;7.000%, 11/15/2031 to 11/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp;26233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26703 |
|  |  | &nbsp;&nbsp;&nbsp;65928919 |
| TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $147,519,707) | TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $147,519,707) | $135549076 |
| **FOREIGN GOVERNMENT OBLIGATIONS – 2.5%** | **FOREIGN GOVERNMENT OBLIGATIONS – 2.5%** |  |
| **Bermuda – 0.1%** |  |  |
| Government of Bermuda<br> 2.375%, 08/20/2030 (C) | &nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177460 |
| **Bulgaria – 0.1%** |  |  |
| Republic of Bulgaria |  |  |
| &nbsp;&nbsp;&nbsp;1.375%, 09/23/2050 | &nbsp;&nbsp;&nbsp;&nbsp;105000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73519 |
| &nbsp;&nbsp;&nbsp;4.875%, 05/13/2036 | &nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196395 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269914 |
| **Chile – 0.1%** |  |  |
| Republic of Chile<br> 1.250%, 01/22/2051 | &nbsp;&nbsp;&nbsp;&nbsp;165000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105591 |
| **Colombia – 0.1%** |  |  |
| Republic of Colombia<br> 5.000%, 06/15/2045 | $&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134751 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Shares or<br> Principal<br> Amount** | **Value** |
| **FOREIGN GOVERNMENT OBLIGATIONS (continued)** | **FOREIGN GOVERNMENT OBLIGATIONS (continued)** | **FOREIGN GOVERNMENT OBLIGATIONS (continued)** |  |
| **Costa Rica – 0.1%** |  |  |  |
| Republic of Costa Rica<br> 6.550%, 04/03/2034 (C) | $| 200000 | $&nbsp;&nbsp;&nbsp;&nbsp;208556 |
| **Hungary – 0.2%** |  |  |  |
| Republic of Hungary |  |  |  |
| &nbsp;&nbsp;&nbsp;1.625%, 04/28/2032 | EUR | 305000 | &nbsp;&nbsp;&nbsp;&nbsp;312857 |
| &nbsp;&nbsp;&nbsp;6.000%, 09/26/2035 (C) | $| 200000 | &nbsp;&nbsp;&nbsp;&nbsp;200100 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;512957 |
| **Indonesia – 0.2%** |  |  |  |
| Republic of Indonesia<br> 1.100%, 03/12/2033 | EUR | 380000 | &nbsp;&nbsp;&nbsp;&nbsp;373831 |
| **Israel – 0.2%** |  |  |  |
| State of Israel<br> 5.375%, 02/19/2030 | $| 400000 | &nbsp;&nbsp;&nbsp;&nbsp;407631 |
| **Ivory Coast – 0.1%** |  |  |  |
| Republic of Ivory Coast<br> 4.875%, 01/30/2032 | EUR | 225000 | &nbsp;&nbsp;&nbsp;&nbsp;237812 |
| **Mexico – 0.6%** |  |  |  |
| Government of Mexico |  |  |  |
| &nbsp;&nbsp;&nbsp;4.750%, 03/08/2044 | $| 156000 | &nbsp;&nbsp;&nbsp;&nbsp;122639 |
| &nbsp;&nbsp;&nbsp;6.000%, 05/07/2036 |  | 480000 | &nbsp;&nbsp;&nbsp;&nbsp;473712 |
| &nbsp;&nbsp;&nbsp;6.625%, 01/29/2038 (B) |  | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;203000 |
| &nbsp;&nbsp;&nbsp;6.875%, 05/13/2037 |  | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;208460 |
| &nbsp;&nbsp;&nbsp;7.375%, 05/13/2055 |  | 215000 | &nbsp;&nbsp;&nbsp;&nbsp;221609 |
|  |  |  | 1229420 |
| **North Macedonia – 0.1%** |  |  |  |
| Republic of North Macedonia<br> 3.675%, 06/03/2026 (C) | EUR | 265000 | &nbsp;&nbsp;&nbsp;&nbsp;312301 |
| **Peru – 0.1%** |  |  |  |
| Republic of Peru |  |  |  |
| &nbsp;&nbsp;&nbsp;5.375%, 02/08/2035 | $| &nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;79854 |
| &nbsp;&nbsp;&nbsp;5.875%, 08/08/2054 |  | 110000 | &nbsp;&nbsp;&nbsp;&nbsp;105972 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;185826 |
| **Philippines – 0.1%** |  |  |  |
| Republic of the Philippines<br> 1.750%, 04/28/2041 | EUR | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;167563 |
| **Romania – 0.4%** |  |  |  |
| Republic of Romania |  |  |  |
| &nbsp;&nbsp;&nbsp;2.625%, 12/02/2040 (C) |  | 335000 | &nbsp;&nbsp;&nbsp;&nbsp;245609 |
| &nbsp;&nbsp;&nbsp;2.750%, 04/14/2041 |  | 605000 | &nbsp;&nbsp;&nbsp;&nbsp;443895 |
| &nbsp;&nbsp;&nbsp;5.750%, 03/24/2035 (C) | $| &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;36946 |
| &nbsp;&nbsp;&nbsp;5.875%, 01/30/2029 (C) |  | &nbsp;&nbsp;44000 | &nbsp;&nbsp;&nbsp;&nbsp;44294 |
| &nbsp;&nbsp;&nbsp;7.500%, 02/10/2037 (C) |  | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;51905 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;822649 |
| TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $5,543,816) | TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $5,543,816) | TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $5,543,816) | $5146262 |
| **CORPORATE BONDS – 22.7%** | **CORPORATE BONDS – 22.7%** | **CORPORATE BONDS – 22.7%** |  |
| **Communication services – 1.6%** |  |  |  |
| Alphabet, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, 05/15/2030 |  | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;100075 |
| &nbsp;&nbsp;&nbsp;5.300%, 05/15/2065 |  | 165000 | &nbsp;&nbsp;&nbsp;&nbsp;161558 |
| Charter Communications Operating LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;2.300%, 02/01/2032 |  | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;16875 |
| &nbsp;&nbsp;&nbsp;2.800%, 04/01/2031 |  | 165000 | &nbsp;&nbsp;&nbsp;&nbsp;147129 |
| &nbsp;&nbsp;&nbsp;5.050%, 03/30/2029 |  | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;55524 |
| Comcast Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;2.887%, 11/01/2051 |  | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;60858 |
| &nbsp;&nbsp;&nbsp;3.750%, 04/01/2040 |  | 185000 | &nbsp;&nbsp;&nbsp;&nbsp;153567 |
| Cox Communications, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;2.600%, 06/15/2031 (C) |  | &nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;83142 |
| &nbsp;&nbsp;&nbsp;5.450%, 09/01/2034 (C) |  | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;49308 |
| &nbsp;&nbsp;&nbsp;5.950%, 09/01/2054 (C) |  | &nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;60344 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 38 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Investment Quality Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Communication services (continued)** |  |  |
| IHS Holding, Ltd.<br> 6.250%, 11/29/2028 (C) | $200000 | $&nbsp;&nbsp;&nbsp;&nbsp;194382 |
| Lamar Media Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, 01/15/2031 | 315000 | &nbsp;&nbsp;&nbsp;&nbsp;291072 |
| &nbsp;&nbsp;&nbsp;4.000%, 02/15/2030 | 135000 | &nbsp;&nbsp;&nbsp;&nbsp;128965 |
| Paramount Global |  |  |
| &nbsp;&nbsp;&nbsp;4.950%, 05/19/2050 | &nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3825 |
| &nbsp;&nbsp;&nbsp;5.250%, 04/01/2044 | 115000 | &nbsp;&nbsp;&nbsp;&nbsp;91540 |
| &nbsp;&nbsp;&nbsp;5.850%, 09/01/2043 | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;17406 |
| &nbsp;&nbsp;&nbsp;6.875%, 04/30/2036 | 115000 | &nbsp;&nbsp;&nbsp;&nbsp;117767 |
| Sirius XM Radio LLC<br> 4.000%, 07/15/2028 (C) | 165000 | &nbsp;&nbsp;&nbsp;&nbsp;158470 |
| Time Warner Cable LLC<br> 4.500%, 09/15/2042 | 315000 | &nbsp;&nbsp;&nbsp;&nbsp;250892 |
| T-Mobile USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.700%, 01/15/2035 | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;24221 |
| &nbsp;&nbsp;&nbsp;5.050%, 07/15/2033 | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;35237 |
| &nbsp;&nbsp;&nbsp;5.125%, 05/15/2032 | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;56089 |
| &nbsp;&nbsp;&nbsp;5.750%, 01/15/2034 | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;57602 |
| WarnerMedia Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.279%, 03/15/2032 (D) | 401000 | &nbsp;&nbsp;&nbsp;&nbsp;298244 |
| &nbsp;&nbsp;&nbsp;5.141%, 03/15/2052 | &nbsp;&nbsp;83000 | &nbsp;&nbsp;&nbsp;&nbsp;54202 |
| WMG Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, 02/15/2031 (C)(D) | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;68010 |
| &nbsp;&nbsp;&nbsp;3.750%, 12/01/2029 (C) | &nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;&nbsp;79673 |
| &nbsp;&nbsp;&nbsp;3.875%, 07/15/2030 (C) | 450000 | &nbsp;&nbsp;&nbsp;&nbsp;420602 |
|  |  | 3236579 |
| **Consumer discretionary – 1.1%** |  |  |
| AutoZone, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.750%, 08/01/2032 | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;19886 |
| &nbsp;&nbsp;&nbsp;4.750%, 02/01/2033 | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;24731 |
| &nbsp;&nbsp;&nbsp;5.400%, 07/15/2034 | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;25598 |
| &nbsp;&nbsp;&nbsp;6.550%, 11/01/2033 | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;33120 |
| Ford Motor Company<br> 6.100%, 08/19/2032 | 115000 | &nbsp;&nbsp;&nbsp;&nbsp;114838 |
| General Motors Financial Company, Inc.<br> 5.450%, 07/15/2030 | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;70983 |
| Howard University |  |  |
| &nbsp;&nbsp;&nbsp;2.701%, 10/01/2029 | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;91684 |
| &nbsp;&nbsp;&nbsp;2.801%, 10/01/2030 | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;90159 |
| &nbsp;&nbsp;&nbsp;3.476%, 10/01/2041 | 120000 | &nbsp;&nbsp;&nbsp;&nbsp;87458 |
| Las Vegas Sands Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.625%, 06/15/2028 | 115000 | &nbsp;&nbsp;&nbsp;&nbsp;117304 |
| &nbsp;&nbsp;&nbsp;6.000%, 06/14/2030 | 105000 | &nbsp;&nbsp;&nbsp;&nbsp;108326 |
| Service Corp. International |  |  |
| &nbsp;&nbsp;&nbsp;3.375%, 08/15/2030 | 335000 | &nbsp;&nbsp;&nbsp;&nbsp;307907 |
| &nbsp;&nbsp;&nbsp;5.125%, 06/01/2029 | 282000 | &nbsp;&nbsp;&nbsp;&nbsp;280793 |
| &nbsp;&nbsp;&nbsp;5.750%, 10/15/2032 | 105000 | &nbsp;&nbsp;&nbsp;&nbsp;106071 |
| Tapestry, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.100%, 03/11/2030 | &nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;65846 |
| &nbsp;&nbsp;&nbsp;5.500%, 03/11/2035 | &nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;95368 |
| Taylor Morrison Communities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, 08/01/2030 (C) | 167000 | &nbsp;&nbsp;&nbsp;&nbsp;166413 |
| &nbsp;&nbsp;&nbsp;5.750%, 01/15/2028 (C) | 302000 | &nbsp;&nbsp;&nbsp;&nbsp;306531 |
| The William Carter Company<br> 5.625%, 03/15/2027 (C) | 105000 | &nbsp;&nbsp;&nbsp;&nbsp;104347 |
|  |  | 2217363 |
| **Consumer staples – 1.1%** |  |  |
| Bacardi, Ltd.<br> 5.400%, 06/15/2033 (C) | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;99664 |
| BAT Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.625%, 08/15/2035 | 130000 | &nbsp;&nbsp;&nbsp;&nbsp;132284 |
| &nbsp;&nbsp;&nbsp;5.834%, 02/20/2031 | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;73661 |
| Cencosud SA<br> 5.950%, 05/28/2031 (C) | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;206425 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Consumer staples (continued)** |  |  |
| Constellation Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.150%, 08/01/2029 | $&nbsp;&nbsp;90000 | $&nbsp;&nbsp;&nbsp;&nbsp;85496 |
| &nbsp;&nbsp;&nbsp;4.800%, 05/01/2030 | &nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;80660 |
| JBS USA LUX SA |  |  |
| &nbsp;&nbsp;&nbsp;5.500%, 01/15/2036 (C) | 190000 | &nbsp;&nbsp;&nbsp;&nbsp;190279 |
| &nbsp;&nbsp;&nbsp;5.750%, 04/01/2033 | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;61675 |
| &nbsp;&nbsp;&nbsp;5.950%, 04/20/2035 (C) | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;56979 |
| Mars, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.600%, 03/01/2028 (C) | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;55447 |
| &nbsp;&nbsp;&nbsp;5.000%, 03/01/2032 (C) | 300000 | &nbsp;&nbsp;&nbsp;&nbsp;303988 |
| &nbsp;&nbsp;&nbsp;5.200%, 03/01/2035 (C) | &nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;45539 |
| &nbsp;&nbsp;&nbsp;5.650%, 05/01/2045 (C) | &nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;95230 |
| &nbsp;&nbsp;&nbsp;5.700%, 05/01/2055 (C) | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;24939 |
| &nbsp;&nbsp;&nbsp;5.800%, 05/01/2065 (C) | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;59897 |
| Philip Morris International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.375%, 11/01/2027 | 135000 | &nbsp;&nbsp;&nbsp;&nbsp;135613 |
| &nbsp;&nbsp;&nbsp;4.750%, 11/01/2031 | 125000 | &nbsp;&nbsp;&nbsp;&nbsp;125921 |
| &nbsp;&nbsp;&nbsp;5.125%, 02/15/2030 | 210000 | &nbsp;&nbsp;&nbsp;&nbsp;216053 |
| &nbsp;&nbsp;&nbsp;5.375%, 02/15/2033 | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;61963 |
| &nbsp;&nbsp;&nbsp;5.625%, 11/17/2029 | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;15751 |
| &nbsp;&nbsp;&nbsp;5.625%, 09/07/2033 | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;41914 |
| Pilgrim's Pride Corp.<br> 4.250%, 04/15/2031 | 110000 | &nbsp;&nbsp;&nbsp;&nbsp;106054 |
| Sysco Corp.<br> 5.100%, 09/23/2030 | 110000 | &nbsp;&nbsp;&nbsp;&nbsp;112698 |
|  |  | 2388130 |
| **Energy – 2.8%** |  |  |
| Aker BP ASA |  |  |
| &nbsp;&nbsp;&nbsp;5.800%, 10/01/2054 (C) | 150000 | &nbsp;&nbsp;&nbsp;&nbsp;136745 |
| &nbsp;&nbsp;&nbsp;6.000%, 06/13/2033 (C) | 150000 | &nbsp;&nbsp;&nbsp;&nbsp;154645 |
| APA Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.100%, 02/15/2035 (C) | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;98073 |
| &nbsp;&nbsp;&nbsp;6.750%, 02/15/2055 (C) | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;47231 |
| BP Capital Markets America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.812%, 02/13/2033 | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;19973 |
| &nbsp;&nbsp;&nbsp;4.893%, 09/11/2033 | &nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;80191 |
| Cheniere Energy Partners LP<br> 5.550%, 10/30/2035 (C) | 205000 | &nbsp;&nbsp;&nbsp;&nbsp;206612 |
| Columbia Pipelines Holding<br> Company LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.097%, 10/01/2031 (C) | &nbsp;&nbsp;41000 | &nbsp;&nbsp;&nbsp;&nbsp;41178 |
| &nbsp;&nbsp;&nbsp;5.681%, 01/15/2034 (C) | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;75922 |
| &nbsp;&nbsp;&nbsp;6.042%, 08/15/2028 (C) | 170000 | &nbsp;&nbsp;&nbsp;&nbsp;177006 |
| Columbia Pipelines Operating<br> Company LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.927%, 08/15/2030 (C) | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;31669 |
| &nbsp;&nbsp;&nbsp;6.036%, 11/15/2033 (C) | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;41971 |
| ConocoPhillips Company |  |  |
| &nbsp;&nbsp;&nbsp;3.800%, 03/15/2052 | &nbsp;&nbsp;72000 | &nbsp;&nbsp;&nbsp;&nbsp;52267 |
| &nbsp;&nbsp;&nbsp;4.025%, 03/15/2062 | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;25201 |
| &nbsp;&nbsp;&nbsp;5.300%, 05/15/2053 | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;27666 |
| &nbsp;&nbsp;&nbsp;5.550%, 03/15/2054 | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9557 |
| &nbsp;&nbsp;&nbsp;5.650%, 01/15/2065 | &nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;76102 |
| &nbsp;&nbsp;&nbsp;5.700%, 09/15/2063 | 120000 | &nbsp;&nbsp;&nbsp;&nbsp;114765 |
| Coterra Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.400%, 02/15/2035 | 142000 | &nbsp;&nbsp;&nbsp;&nbsp;140562 |
| &nbsp;&nbsp;&nbsp;5.600%, 03/15/2034 | &nbsp;&nbsp;38000 | &nbsp;&nbsp;&nbsp;&nbsp;38323 |
| Diamondback Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.550%, 04/01/2035 | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;25271 |
| &nbsp;&nbsp;&nbsp;5.750%, 04/18/2054 | &nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;41770 |
| &nbsp;&nbsp;&nbsp;5.900%, 04/18/2064 | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;37021 |
| &nbsp;&nbsp;&nbsp;6.250%, 03/15/2053 | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;34606 |
| DT Midstream, Inc.<br> 5.800%, 12/15/2034 (C) | 115000 | &nbsp;&nbsp;&nbsp;&nbsp;117117 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 39 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Investment Quality Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Energy (continued)** |  |  |
| Ecopetrol SA |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, 11/02/2031 | $185000 | $&nbsp;&nbsp;&nbsp;&nbsp;156246 |
| &nbsp;&nbsp;&nbsp;4.625%, 11/02/2031 | &nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;38006 |
| &nbsp;&nbsp;&nbsp;7.750%, 02/01/2032 | 175000 | &nbsp;&nbsp;&nbsp;&nbsp;171982 |
| &nbsp;&nbsp;&nbsp;8.375%, 01/19/2036 | 270000 | &nbsp;&nbsp;&nbsp;&nbsp;260514 |
| Enbridge, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.125%, 11/15/2029 | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;66127 |
| &nbsp;&nbsp;&nbsp;5.550%, 06/20/2035 | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;50831 |
| &nbsp;&nbsp;&nbsp;5.625%, 04/05/2034 | &nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5137 |
| &nbsp;&nbsp;&nbsp;5.700%, 03/08/2033 | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;20736 |
| Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp;3.750%, 05/15/2030 | &nbsp;&nbsp;78000 | &nbsp;&nbsp;&nbsp;&nbsp;74838 |
| &nbsp;&nbsp;&nbsp;5.700%, 04/01/2035 | 135000 | &nbsp;&nbsp;&nbsp;&nbsp;137510 |
| &nbsp;&nbsp;&nbsp;6.400%, 12/01/2030 | 120000 | &nbsp;&nbsp;&nbsp;&nbsp;129317 |
| Eni SpA<br> 5.750%, 05/19/2035 (C) | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;204562 |
| Enterprise Products Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;3.300%, 02/15/2053 | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;26450 |
| &nbsp;&nbsp;&nbsp;4.600%, 01/15/2031 | &nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;&nbsp;85647 |
| &nbsp;&nbsp;&nbsp;5.200%, 01/15/2036 | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;25169 |
| &nbsp;&nbsp;&nbsp;5.550%, 02/16/2055 | &nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;77178 |
| EOG Resources, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, 07/15/2032 (B) | &nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;80973 |
| &nbsp;&nbsp;&nbsp;5.350%, 01/15/2036 (B) | 115000 | &nbsp;&nbsp;&nbsp;&nbsp;116624 |
| &nbsp;&nbsp;&nbsp;5.650%, 12/01/2054 | &nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;92734 |
| EQT Corp.<br> 4.500%, 01/15/2029 (C) | 125000 | &nbsp;&nbsp;&nbsp;&nbsp;123481 |
| Galaxy Pipeline Assets Bidco, Ltd.<br> 2.940%, 09/30/2040 (C) | 176648 | &nbsp;&nbsp;&nbsp;&nbsp;144701 |
| Hess Corp. |  |  |
| &nbsp;&nbsp;&nbsp;7.125%, 03/15/2033 | 170000 | &nbsp;&nbsp;&nbsp;&nbsp;192514 |
| &nbsp;&nbsp;&nbsp;7.300%, 08/15/2031 | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;62378 |
| Hess Midstream Operations LP |  |  |
| &nbsp;&nbsp;&nbsp;4.250%, 02/15/2030 (C) | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;48074 |
| &nbsp;&nbsp;&nbsp;6.500%, 06/01/2029 (C) | 135000 | &nbsp;&nbsp;&nbsp;&nbsp;138835 |
| Leviathan Bond, Ltd.<br> 6.500%, 06/30/2027 (C) | 235000 | &nbsp;&nbsp;&nbsp;&nbsp;233011 |
| ONEOK, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.100%, 03/15/2030 | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9338 |
| &nbsp;&nbsp;&nbsp;3.400%, 09/01/2029 | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;19086 |
| &nbsp;&nbsp;&nbsp;4.400%, 10/15/2029 | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;54579 |
| &nbsp;&nbsp;&nbsp;4.750%, 10/15/2031 | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;34653 |
| &nbsp;&nbsp;&nbsp;5.050%, 11/01/2034 | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;53523 |
| &nbsp;&nbsp;&nbsp;5.850%, 11/01/2064 | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;27812 |
| &nbsp;&nbsp;&nbsp;6.050%, 09/01/2033 | 120000 | &nbsp;&nbsp;&nbsp;&nbsp;125911 |
| &nbsp;&nbsp;&nbsp;6.100%, 11/15/2032 | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;31726 |
| &nbsp;&nbsp;&nbsp;6.625%, 09/01/2053 | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;10393 |
| &nbsp;&nbsp;&nbsp;7.150%, 01/15/2051 | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;10769 |
| Patterson-UTI Energy, Inc.<br> 7.150%, 10/01/2033 | 175000 | &nbsp;&nbsp;&nbsp;&nbsp;179196 |
| Targa Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.900%, 09/15/2030 | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;50422 |
| &nbsp;&nbsp;&nbsp;5.550%, 08/15/2035 | 140000 | &nbsp;&nbsp;&nbsp;&nbsp;140708 |
| &nbsp;&nbsp;&nbsp;5.650%, 02/15/2036 | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;30282 |
| &nbsp;&nbsp;&nbsp;6.500%, 03/30/2034 | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;21492 |
| Targa Resources Partners LP<br> 4.000%, 01/15/2032 | 125000 | &nbsp;&nbsp;&nbsp;&nbsp;116499 |
| TotalEnergies Capital SA |  |  |
| &nbsp;&nbsp;&nbsp;5.425%, 09/10/2064 | &nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;60811 |
| &nbsp;&nbsp;&nbsp;5.638%, 04/05/2064 | 145000 | &nbsp;&nbsp;&nbsp;&nbsp;140562 |
| Whistler Pipeline LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.400%, 09/30/2029 (C) | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;10114 |
| &nbsp;&nbsp;&nbsp;5.700%, 09/30/2031 (C) | &nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;&nbsp;86652 |
| &nbsp;&nbsp;&nbsp;5.950%, 09/30/2034 (C) | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;35450 |
|  |  | 5864997 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials – 6.2%** |  |  |
| American Express Company |  |  |
| &nbsp;&nbsp;&nbsp;5.016%, (5.016% to 4-25-30, then Overnight SOFR + 1.440%), 04/25/2031 | $185000 | $188906 |
| &nbsp;&nbsp;&nbsp;5.085%, (5.085% to 1-30-30, then SOFR Compounded Index + 1.020%), 01/30/2031 | 160000 | 163755 |
| Ameriprise Financial, Inc.<br> 5.200%, 04/15/2035 | 110000 | 110809 |
| Ares Capital Corp.<br> 5.800%, 03/08/2032 | 140000 | 139414 |
| Ares Strategic Income Fund<br> 5.800%, 09/09/2030 (C) | 330000 | 331153 |
| Athene Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;2.646%, 10/04/2031 (C) | 190000 | 164608 |
| &nbsp;&nbsp;&nbsp;2.717%, 01/07/2029 (C) | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;51271 |
| &nbsp;&nbsp;&nbsp;4.721%, 10/08/2029 (C) | 140000 | 139689 |
| Banca Comerciala Romana SA<br> 7.625%, (7.625% to 5-19-26, then 3 month EURIBOR + 4.539%), 05/19/2027 | 100000 | 122338 |
| Banca Transilvania SA<br> 8.875%, (8.875% to 4-27-26, then 1 Year EURIBOR ICE Swap Rate + 5.580%), 04/27/2027 | 100000 | 122362 |
| Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;1.898%, (1.898% to 7-23-30, then Overnight SOFR + 1.530%), 07/23/2031 | $120000 | 105441 |
| &nbsp;&nbsp;&nbsp;1.922%, (1.922% to 10-24-30, then Overnight SOFR + 1.370%), 10/24/2031 | 215000 | 187498 |
| &nbsp;&nbsp;&nbsp;2.482%, (2.482% to 9-21-31, then 5 Year CMT + 1.200%), 09/21/2036 | 130000 | 110155 |
| &nbsp;&nbsp;&nbsp;2.592%, (2.592% to 4-29-30, then Overnight SOFR + 2.150%), 04/29/2031 | 185000 | 169127 |
| &nbsp;&nbsp;&nbsp;2.972%, (2.972% to 2-4-32, then Overnight SOFR + 1.330%), 02/04/2033 | 115000 | 102981 |
| &nbsp;&nbsp;&nbsp;4.376%, (4.376% to 4-27-27, then Overnight SOFR + 1.580%), 04/27/2028 | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;39992 |
| &nbsp;&nbsp;&nbsp;5.162%, (5.162% to 1-24-30, then Overnight SOFR + 1.000%), 01/24/2031 | 100000 | 102495 |
| &nbsp;&nbsp;&nbsp;5.518%, (5.518% to 10-25-34, then Overnight SOFR + 1.738%), 10/25/2035 | 155000 | 155001 |
| Block, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, 06/01/2031 | 125000 | 114659 |
| &nbsp;&nbsp;&nbsp;6.500%, 05/15/2032 | 407000 | 419911 |
| BPCE SA |  |  |
| &nbsp;&nbsp;&nbsp;5.389%, (5.389% to 5-28-30, then Overnight SOFR + 1.581%), 05/28/2031 (C) | 500000 | 509121 |
| &nbsp;&nbsp;&nbsp;5.876%, (5.876% to 1-14-30, then Overnight SOFR + 1.680%), 01/14/2031 (C) | 250000 | 259322 |
| Capital One Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.273%, (3.273% to 3-1-29, then Overnight SOFR + 1.790%), 03/01/2030 | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;66956 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 40 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Investment Quality Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| Capital One Financial Corp. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;6.183%, (6.183% to 1-30-35, then Overnight SOFR + 2.036%), 01/30/2036 | $&nbsp;&nbsp;35000 | $&nbsp;&nbsp;&nbsp;35632 |
| &nbsp;&nbsp;&nbsp;7.624%, (7.624% to 10-30-30, then Overnight SOFR + 3.070%), 10/30/2031 | 190000 | 214671 |
| &nbsp;&nbsp;&nbsp;7.964%, (7.964% to 11-2-33, then SOFR Compounded Index + 3.370%), 11/02/2034 | 115000 | 133675 |
| Caterpillar Financial Services Corp.<br> 4.700%, 11/15/2029 | 185000 | 188414 |
| Citibank NA<br> 4.914%, 05/29/2030 | 250000 | 254800 |
| Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.952%, (4.952% to 5-7-30, then Overnight SOFR + 1.463%), 05/07/2031 | 195000 | 197222 |
| &nbsp;&nbsp;&nbsp;5.174%, (5.174% to 2-13-29, then Overnight SOFR + 1.364%), 02/13/2030 | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;35708 |
| Citizens Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.253%, (5.253% to 3-5-30, then Overnight SOFR + 1.259%), 03/05/2031 | 115000 | 116540 |
| &nbsp;&nbsp;&nbsp;6.645%, (6.645% to 4-25-34, then Overnight SOFR + 2.325%), 04/25/2035 | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;32336 |
| CNO Global Funding<br> 4.875%, 12/10/2027 (C) | 125000 | 125977 |
| Credit Agricole SA |  |  |
| &nbsp;&nbsp;&nbsp;5.222%, (5.222% to 5-27-30, then Overnight SOFR + 1.460%), 05/27/2031 (C) | 250000 | 254662 |
| &nbsp;&nbsp;&nbsp;6.251%, (6.251% to 1-10-34, then Overnight SOFR + 2.670%), 01/10/2035 (C) | 250000 | 259952 |
| Deutsche Bank AG<br> 5.297%, (5.297% to 5-9-30, then Overnight SOFR + 1.720%), 05/09/2031 | 340000 | 345311 |
| Equitable Financial Life Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;1.800%, 03/08/2028 (C) | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;28035 |
| &nbsp;&nbsp;&nbsp;5.000%, 03/27/2030 (C) | &nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;81194 |
| Equitable Holdings, Inc.<br> 4.350%, 04/20/2028 | &nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;94820 |
| FirstCash, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, 09/01/2028 (C) | 250000 | 245456 |
| &nbsp;&nbsp;&nbsp;5.625%, 01/01/2030 (C) | 220000 | 219371 |
| HPS Corporate Lending Fund<br> 5.850%, 06/05/2030 (C) | 215000 | 214524 |
| HSBC Holdings PLC |  |  |
| &nbsp;&nbsp;&nbsp;2.206%, (2.206% to 8-17-28, then Overnight SOFR + 1.285%), 08/17/2029 | 210000 | 195637 |
| &nbsp;&nbsp;&nbsp;5.240%, (5.240% to 5-13-30, then Overnight SOFR + 1.570%), 05/13/2031 | 400000 | 407275 |
| JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;2.545%, (2.545% to 11-8-31, then Overnight SOFR + 1.180%), 11/08/2032 | 115000 | 101240 |
| &nbsp;&nbsp;&nbsp;2.580%, (2.580% to 4-22-31, then 3 month CME Term SOFR + 1.250%), 04/22/2032 | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;35723 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| JPMorgan Chase & Co. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;3.702%, (3.702% to 5-6-29, then 3 month CME Term SOFR + 1.422%), 05/06/2030 | $&nbsp;&nbsp;65000 | $&nbsp;&nbsp;&nbsp;63264 |
| &nbsp;&nbsp;&nbsp;4.005%, (4.005% to 4-23-28, then 3 month CME Term SOFR + 1.382%), 04/23/2029 | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;59472 |
| &nbsp;&nbsp;&nbsp;4.505%, (4.505% to 10-22-27, then Overnight SOFR + 0.860%), 10/22/2028 | 185000 | 185553 |
| &nbsp;&nbsp;&nbsp;4.946%, (4.946% to 10-22-34, then Overnight SOFR + 1.340%), 10/22/2035 | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;29686 |
| &nbsp;&nbsp;&nbsp;4.995%, (4.995% to 7-22-29, then Overnight SOFR + 1.125%), 07/22/2030 | 185000 | 188379 |
| &nbsp;&nbsp;&nbsp;5.103%, (5.103% to 4-22-30, then Overnight SOFR + 1.435%), 04/22/2031 | 120000 | 122977 |
| &nbsp;&nbsp;&nbsp;5.299%, (5.299% to 7-24-28, then Overnight SOFR + 1.450%), 07/24/2029 | 175000 | 179675 |
| &nbsp;&nbsp;&nbsp;5.336%, (5.336% to 1-23-34, then Overnight SOFR + 1.620%), 01/23/2035 | 130000 | 133072 |
| &nbsp;&nbsp;&nbsp;5.581%, (5.581% to 4-22-29, then Overnight SOFR + 1.160%), 04/22/2030 | 195000 | 202480 |
| Lincoln Financial Global Funding<br> 4.625%, 05/28/2028 (C) | 125000 | 125774 |
| mBank SA<br> 0.966%, (0.966% to 9-21-26, then 3 month EURIBOR + 1.250%), 09/21/2027 | 100000 | 115268 |
| Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;1.794%, (1.794% to 2-13-31, then Overnight SOFR + 1.034%), 02/13/2032 | $&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;8555 |
| &nbsp;&nbsp;&nbsp;1.928%, (1.928% to 4-28-31, then Overnight SOFR + 1.020%), 04/28/2032 | 200000 | 170998 |
| &nbsp;&nbsp;&nbsp;2.239%, (2.239% to 7-21-31, then Overnight SOFR + 1.178%), 07/21/2032 | &nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;73606 |
| &nbsp;&nbsp;&nbsp;4.210%, (4.210% to 4-20-27, then Overnight SOFR + 1.610%), 04/20/2028 | 105000 | 104783 |
| &nbsp;&nbsp;&nbsp;5.230%, (5.230% to 1-15-30, then Overnight SOFR + 1.108%), 01/15/2031 | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;51185 |
| &nbsp;&nbsp;&nbsp;5.449%, (5.449% to 7-20-28, then Overnight SOFR + 1.630%), 07/20/2029 | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;56565 |
| &nbsp;&nbsp;&nbsp;5.656%, (5.656% to 4-18-29, then Overnight SOFR + 1.260%), 04/18/2030 | 160000 | 166194 |
| MSCI, Inc.<br> 3.625%, 11/01/2031 (C) | 192000 | 176901 |
| OTP Bank NYRT<br> 7.500%, (7.500% to 5-25-26, then 1 Year CMT + 3.711%), 05/25/2027 | 200000 | 204114 |
| Royal Bank of Canada<br> 5.153%, (5.153% to 2-4-30, then Overnight SOFR + 1.030%), 02/04/2031 | 160000 | 163290 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 41 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Investment Quality Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| Sixth Street Lending Partners<br> 6.125%, 07/15/2030 (C) | $145000 | $147649 |
| Societe Generale SA<br> 5.249%, (5.249% to 5-22-28, then Overnight SOFR + 1.420%), 05/22/2029 (C) | 200000 | 202442 |
| Standard Chartered PLC<br> 7.767%, (7.767% to 11-16-27, then 1 Year CMT + 3.450%), 11/16/2028 (C) | 200000 | 214034 |
| Sumitomo Mitsui Financial Group, Inc.<br> 5.246%, (5.246% to 7-8-35, then Overnight SOFR + 1.500%), 07/08/2036 | 200000 | 200000 |
| The Bank of New York Mellon Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.060%, (5.060% to 7-22-31, then Overnight SOFR + 1.230%), 07/22/2032 | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;76771 |
| &nbsp;&nbsp;&nbsp;5.188%, (5.188% to 3-14-34, then Overnight SOFR + 1.418%), 03/14/2035 | &nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;45566 |
| &nbsp;&nbsp;&nbsp;6.317%, (6.317% to 10-25-28, then Overnight SOFR + 1.598%), 10/25/2029 | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;21239 |
| The Goldman Sachs Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.383%, (2.383% to 7-21-31, then Overnight SOFR + 1.248%), 07/21/2032 | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;17467 |
| &nbsp;&nbsp;&nbsp;2.615%, (2.615% to 4-22-31, then Overnight SOFR + 1.281%), 04/22/2032 | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;17777 |
| &nbsp;&nbsp;&nbsp;4.482%, (4.482% to 8-23-27, then Overnight SOFR + 1.725%), 08/23/2028 | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;15020 |
| &nbsp;&nbsp;&nbsp;4.692%, (4.692% to 10-23-29, then Overnight SOFR + 1.135%), 10/23/2030 | 190000 | 190571 |
| &nbsp;&nbsp;&nbsp;5.016%, (5.016% to 10-23-34, then Overnight SOFR + 1.420%), 10/23/2035 | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;54335 |
| &nbsp;&nbsp;&nbsp;5.049%, (5.049% to 7-23-29, then Overnight SOFR + 1.210%), 07/23/2030 | 235000 | 238902 |
| &nbsp;&nbsp;&nbsp;5.218%, (5.218% to 4-23-30, then Overnight SOFR + 1.580%), 04/23/2031 | &nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;66636 |
| &nbsp;&nbsp;&nbsp;5.727%, (5.727% to 4-25-29, then Overnight SOFR + 1.265%), 04/25/2030 | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;57252 |
| UBS Group AG<br> 6.442%, (6.442% to 8-11-27, then Overnight SOFR + 3.700%), 08/11/2028 (C) | 250000 | 259768 |
| Wells Fargo & Company |  |  |
| &nbsp;&nbsp;&nbsp;2.572%, (2.572% to 2-11-30, then 3 month CME Term SOFR + 1.262%), 02/11/2031 | 100000 | &nbsp;&nbsp;&nbsp;91612 |
| &nbsp;&nbsp;&nbsp;2.879%, (2.879% to 10-30-29, then 3 month CME Term SOFR + 1.432%), 10/30/2030 | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;28030 |
| &nbsp;&nbsp;&nbsp;3.350%, (3.350% to 3-2-32, then Overnight SOFR + 1.500%), 03/02/2033 | 250000 | 228312 |
| &nbsp;&nbsp;&nbsp;4.897%, (4.897% to 7-25-32, then Overnight SOFR + 2.100%), 07/25/2033 | &nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;90018 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| Wells Fargo & Company (continued) |  |  |
| &nbsp;&nbsp;&nbsp;5.150%, (5.150% to 4-23-30, then Overnight SOFR + 1.500%), 04/23/2031 | $&nbsp;&nbsp;65000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66571 |
| &nbsp;&nbsp;&nbsp;5.244%, (5.244% to 1-24-30, then Overnight SOFR + 1.110%), 01/24/2031 | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71809 |
| &nbsp;&nbsp;&nbsp;5.574%, (5.574% to 7-25-28, then Overnight SOFR + 1.740%), 07/25/2029 | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72279 |
| &nbsp;&nbsp;&nbsp;6.491%, (6.491% to 10-23-33, then Overnight SOFR + 2.060%), 10/23/2034 | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81977 |
|  |  | 12832967 |
| **Health care – 1.9%** |  |  |
| Avantor Funding, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 11/01/2029 (C) | 130000 | &nbsp;&nbsp;&nbsp;&nbsp;123084 |
| &nbsp;&nbsp;&nbsp;4.625%, 07/15/2028 (C) | 375000 | &nbsp;&nbsp;&nbsp;&nbsp;368235 |
| Biogen, Inc.<br> 5.750%, 05/15/2035 | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;102982 |
| Cardinal Health, Inc.<br> 5.000%, 11/15/2029 | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;254831 |
| Cencora, Inc.<br> 4.850%, 12/15/2029 | 170000 | &nbsp;&nbsp;&nbsp;&nbsp;172690 |
| Centene Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, 03/01/2031 | 190000 | &nbsp;&nbsp;&nbsp;&nbsp;163587 |
| &nbsp;&nbsp;&nbsp;2.625%, 08/01/2031 | 120000 | &nbsp;&nbsp;&nbsp;&nbsp;102816 |
| &nbsp;&nbsp;&nbsp;3.375%, 02/15/2030 | &nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4605 |
| &nbsp;&nbsp;&nbsp;4.250%, 12/15/2027 | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49242 |
| &nbsp;&nbsp;&nbsp;4.625%, 12/15/2029 | 585000 | &nbsp;&nbsp;&nbsp;&nbsp;568990 |
| CVS Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp;1.750%, 08/21/2030 | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47538 |
| &nbsp;&nbsp;&nbsp;1.875%, 02/28/2031 | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25680 |
| &nbsp;&nbsp;&nbsp;2.125%, 09/15/2031 | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59879 |
| &nbsp;&nbsp;&nbsp;3.250%, 08/15/2029 | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52273 |
| &nbsp;&nbsp;&nbsp;3.750%, 04/01/2030 | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38372 |
| &nbsp;&nbsp;&nbsp;6.750%, (6.750% to 12-10-34, then 5 Year CMT + 2.516%), 12/10/2054 | 105000 | &nbsp;&nbsp;&nbsp;&nbsp;105229 |
| GE Healthcare Technologies, Inc.<br> 5.500%, 06/15/2035 | &nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97283 |
| Gilead Sciences, Inc.<br> 4.800%, 11/15/2029 | 145000 | &nbsp;&nbsp;&nbsp;&nbsp;148000 |
| Hologic, Inc.<br> 3.250%, 02/15/2029 (C) | 528000 | &nbsp;&nbsp;&nbsp;&nbsp;503158 |
| Humana, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.375%, 04/15/2031 | &nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5115 |
| &nbsp;&nbsp;&nbsp;5.550%, 05/01/2035 | 120000 | &nbsp;&nbsp;&nbsp;&nbsp;120671 |
| Icon Investments Six DAC<br> 6.000%, 05/08/2034 | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;204396 |
| Smith & Nephew PLC<br> 2.032%, 10/14/2030 | 130000 | &nbsp;&nbsp;&nbsp;&nbsp;113857 |
| Solventum Corp.<br> 5.400%, 03/01/2029 | 185000 | &nbsp;&nbsp;&nbsp;&nbsp;190507 |
| UnitedHealth Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.750%, 05/15/2040 | 155000 | &nbsp;&nbsp;&nbsp;&nbsp;112454 |
| &nbsp;&nbsp;&nbsp;3.500%, 08/15/2039 | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56491 |
| &nbsp;&nbsp;&nbsp;4.950%, 05/15/2062 | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25744 |
| &nbsp;&nbsp;&nbsp;5.300%, 02/15/2030 | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15536 |
| &nbsp;&nbsp;&nbsp;5.300%, 06/15/2035 | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56057 |
| &nbsp;&nbsp;&nbsp;5.375%, 04/15/2054 | 125000 | &nbsp;&nbsp;&nbsp;&nbsp;116852 |
| &nbsp;&nbsp;&nbsp;5.750%, 07/15/2064 | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24316 |
| &nbsp;&nbsp;&nbsp;6.050%, 02/15/2063 | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10147 |
|  |  | &nbsp;&nbsp;&nbsp;4040617 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 42 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Investment Quality Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Industrials – 1.6%** |  |  |
| Builders FirstSource, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.250%, 02/01/2032 (C) | $235000 | $&nbsp;&nbsp;&nbsp;&nbsp;217718 |
| &nbsp;&nbsp;&nbsp;5.000%, 03/01/2030 (C) | 225000 | &nbsp;&nbsp;&nbsp;&nbsp;220865 |
| Clean Harbors, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.875%, 07/15/2027 (C) | 620000 | &nbsp;&nbsp;&nbsp;&nbsp;616958 |
| &nbsp;&nbsp;&nbsp;6.375%, 02/01/2031 (C) | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;35858 |
| International Airport Finance SA<br> 12.000%, 03/15/2033 (C) | 300005 | &nbsp;&nbsp;&nbsp;&nbsp;321499 |
| John Deere Capital Corp.<br> 4.250%, 06/05/2028 | 255000 | &nbsp;&nbsp;&nbsp;&nbsp;256508 |
| L3Harris Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.050%, 06/01/2029 | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;76723 |
| &nbsp;&nbsp;&nbsp;5.500%, 08/15/2054 | &nbsp;&nbsp;58000 | &nbsp;&nbsp;&nbsp;&nbsp;56246 |
| Otis Worldwide Corp.<br> 2.565%, 02/15/2030 | 160000 | &nbsp;&nbsp;&nbsp;&nbsp;147593 |
| Penske Truck Leasing Company LP<br> 4.000%, 07/15/2025 (C) | &nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;89979 |
| Regal Rexnord Corp.<br> 6.050%, 04/15/2028 | 130000 | &nbsp;&nbsp;&nbsp;&nbsp;133963 |
| Republic Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.450%, 02/15/2031 | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;21322 |
| &nbsp;&nbsp;&nbsp;4.875%, 04/01/2029 | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;61277 |
| &nbsp;&nbsp;&nbsp;5.200%, 11/15/2034 | &nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;66528 |
| SS&C Technologies, Inc.<br> 5.500%, 09/30/2027 (C) | 532000 | &nbsp;&nbsp;&nbsp;&nbsp;532467 |
| The Boeing Company |  |  |
| &nbsp;&nbsp;&nbsp;2.950%, 02/01/2030 | &nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;41718 |
| &nbsp;&nbsp;&nbsp;3.200%, 03/01/2029 | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;33316 |
| &nbsp;&nbsp;&nbsp;3.750%, 02/01/2050 | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7062 |
| &nbsp;&nbsp;&nbsp;5.150%, 05/01/2030 | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;30543 |
| &nbsp;&nbsp;&nbsp;6.388%, 05/01/2031 | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;53735 |
| &nbsp;&nbsp;&nbsp;6.528%, 05/01/2034 | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;81490 |
| Wabtec Corp.<br> 4.900%, 05/29/2030 | 110000 | &nbsp;&nbsp;&nbsp;&nbsp;111552 |
| Waste Management, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 01/15/2029 | &nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;93811 |
| &nbsp;&nbsp;&nbsp;4.950%, 03/15/2035 | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;50212 |
|  |  | 3358943 |
| **Information technology – 2.0%** |  |  |
| Broadcom, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.150%, 02/15/2028 | 120000 | &nbsp;&nbsp;&nbsp;&nbsp;119651 |
| &nbsp;&nbsp;&nbsp;5.050%, 07/12/2029 | &nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;66561 |
| Dell International LLC<br> 5.300%, 04/01/2032 | 105000 | &nbsp;&nbsp;&nbsp;&nbsp;107321 |
| Fair Isaac Corp.<br> 4.000%, 06/15/2028 (C) | 386000 | &nbsp;&nbsp;&nbsp;&nbsp;375682 |
| Foundry JV Holdco LLC<br> 5.900%, 01/25/2033 (C) | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;207336 |
| Gartner, Inc.<br> 4.500%, 07/01/2028 (C) | 193000 | &nbsp;&nbsp;&nbsp;&nbsp;190988 |
| Gen Digital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.250%, 04/01/2033 (C) | 315000 | &nbsp;&nbsp;&nbsp;&nbsp;323455 |
| &nbsp;&nbsp;&nbsp;6.750%, 09/30/2027 (C) | 220000 | &nbsp;&nbsp;&nbsp;&nbsp;223896 |
| IBM Corp.<br> 4.800%, 02/10/2030 | 175000 | &nbsp;&nbsp;&nbsp;&nbsp;177790 |
| Insight Enterprises, Inc.<br> 6.625%, 05/15/2032 (C) | 415000 | &nbsp;&nbsp;&nbsp;&nbsp;427506 |
| Intel Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.100%, 02/15/2060 | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;33547 |
| &nbsp;&nbsp;&nbsp;3.250%, 11/15/2049 | &nbsp;&nbsp;56000 | &nbsp;&nbsp;&nbsp;&nbsp;35468 |
| &nbsp;&nbsp;&nbsp;3.734%, 12/08/2047 | 260000 | &nbsp;&nbsp;&nbsp;&nbsp;183425 |
| &nbsp;&nbsp;&nbsp;4.750%, 03/25/2050 | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8158 |
| Marvell Technology, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.450%, 04/15/2028 | &nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;76017 |
| &nbsp;&nbsp;&nbsp;2.950%, 04/15/2031 | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;31874 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Information technology (continued)** |  |  |
| Micron Technology, Inc.<br> 5.650%, 11/01/2032 | $200000 | $&nbsp;&nbsp;&nbsp;&nbsp;207896 |
| Open Text Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 12/01/2029 (C) | 590000 | &nbsp;&nbsp;&nbsp;&nbsp;555735 |
| &nbsp;&nbsp;&nbsp;6.900%, 12/01/2027 (C) | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;103531 |
| Open Text Holdings, Inc.<br> 4.125%, 12/01/2031 (C) | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;55243 |
| Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.950%, 04/01/2030 | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;32685 |
| &nbsp;&nbsp;&nbsp;3.850%, 04/01/2060 | 175000 | &nbsp;&nbsp;&nbsp;&nbsp;120596 |
| &nbsp;&nbsp;&nbsp;4.100%, 03/25/2061 | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;21688 |
| &nbsp;&nbsp;&nbsp;5.250%, 02/03/2032 | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;30774 |
| &nbsp;&nbsp;&nbsp;5.500%, 09/27/2064 | &nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;40984 |
| Qorvo, Inc.<br> 3.375%, 04/01/2031 (C) | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;180352 |
| Qualcomm, Inc.<br> 4.750%, 05/20/2032 | 145000 | &nbsp;&nbsp;&nbsp;&nbsp;146692 |
|  |  | 4084851 |
| **Materials – 1.0%** |  |  |
| Ball Corp.<br> 6.000%, 06/15/2029 | 735000 | &nbsp;&nbsp;&nbsp;&nbsp;753504 |
| Glencore Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.371%, 04/04/2029 (C) | 120000 | &nbsp;&nbsp;&nbsp;&nbsp;123040 |
| &nbsp;&nbsp;&nbsp;5.634%, 04/04/2034 (C) | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;40769 |
| &nbsp;&nbsp;&nbsp;6.375%, 10/06/2030 (C) | 170000 | &nbsp;&nbsp;&nbsp;&nbsp;182453 |
| &nbsp;&nbsp;&nbsp;6.500%, 10/06/2033 (C) | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;54221 |
| OCP SA<br> 7.500%, 05/02/2054 | 210000 | &nbsp;&nbsp;&nbsp;&nbsp;209853 |
| Rio Tinto Alcan, Inc.<br> 6.125%, 12/15/2033 | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;108602 |
| Rio Tinto Finance USA PLC |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, 03/14/2032 | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;35611 |
| &nbsp;&nbsp;&nbsp;5.875%, 03/14/2065 | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;100428 |
| Standard Building Solutions, Inc.<br> 6.500%, 08/15/2032 (C) | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;15370 |
| Standard Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.375%, 01/15/2031 (C) | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8968 |
| &nbsp;&nbsp;&nbsp;4.375%, 07/15/2030 (C) | 410000 | &nbsp;&nbsp;&nbsp;&nbsp;388205 |
|  |  | 2021024 |
| **Real estate – 0.4%** |  |  |
| American Tower Corp.<br> 2.700%, 04/15/2031 | 165000 | &nbsp;&nbsp;&nbsp;&nbsp;147964 |
| Cousins Properties LP<br> 5.375%, 02/15/2032 | 145000 | &nbsp;&nbsp;&nbsp;&nbsp;146509 |
| Crown Castle, Inc.<br> 3.100%, 11/15/2029 | 150000 | &nbsp;&nbsp;&nbsp;&nbsp;140708 |
| Iron Mountain, Inc.<br> 6.250%, 01/15/2033 (C) | 325000 | &nbsp;&nbsp;&nbsp;&nbsp;334167 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;769348 |
| **Utilities – 3.0%** |  |  |
| AES Andes SA<br> 6.250%, 03/14/2032 (C) | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;203952 |
| Alabama Power Company |  |  |
| &nbsp;&nbsp;&nbsp;3.450%, 10/01/2049 | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;53223 |
| &nbsp;&nbsp;&nbsp;4.150%, 08/15/2044 | 105000 | &nbsp;&nbsp;&nbsp;&nbsp;86681 |
| &nbsp;&nbsp;&nbsp;5.100%, 04/02/2035 | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;20156 |
| American Electric Power Company, Inc.<br> 6.950%, (6.950% to 12-15-34, then 5 Year CMT + 2.675%), 12/15/2054 | &nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;67771 |
| Baltimore Gas and Electric Company<br> 5.450%, 06/01/2035 | 105000 | &nbsp;&nbsp;&nbsp;&nbsp;107624 |
| Boston Gas Company<br> 3.757%, 03/16/2032 (C) | &nbsp;&nbsp;68000 | &nbsp;&nbsp;&nbsp;&nbsp;62750 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 43 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Investment Quality Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Utilities (continued)** |  |  |
| CenterPoint Energy Houston Electric LLC<br> 5.200%, 10/01/2028 | $160000 | $164939 |
| Cleco Corporate Holdings LLC<br> 3.375%, 09/15/2029 | &nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;83682 |
| Consolidated Edison Company of New<br> York, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.200%, 12/01/2051 | 120000 | &nbsp;&nbsp;&nbsp;79526 |
| &nbsp;&nbsp;&nbsp;5.500%, 03/15/2055 | 110000 | 106616 |
| Dominion Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.375%, 04/01/2030 | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;19007 |
| &nbsp;&nbsp;&nbsp;5.000%, 06/15/2030 | 140000 | 142877 |
| Duke Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.550%, 06/15/2031 | 305000 | 271766 |
| &nbsp;&nbsp;&nbsp;3.300%, 06/15/2041 | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;37510 |
| &nbsp;&nbsp;&nbsp;5.000%, 08/15/2052 | 115000 | 100821 |
| &nbsp;&nbsp;&nbsp;5.450%, 06/15/2034 | &nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;5135 |
| Duke Energy Florida LLC<br> 1.750%, 06/15/2030 | 115000 | 101437 |
| Duke Energy Indiana LLC |  |  |
| &nbsp;&nbsp;&nbsp;2.750%, 04/01/2050 | &nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;49284 |
| &nbsp;&nbsp;&nbsp;3.250%, 10/01/2049 | 105000 | &nbsp;&nbsp;&nbsp;71228 |
| Duke Energy Ohio, Inc.<br> 5.550%, 03/15/2054 | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;58616 |
| Duke Energy Progress LLC |  |  |
| &nbsp;&nbsp;&nbsp;3.700%, 10/15/2046 | 125000 | &nbsp;&nbsp;&nbsp;94352 |
| &nbsp;&nbsp;&nbsp;5.050%, 03/15/2035 | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;35148 |
| &nbsp;&nbsp;&nbsp;5.550%, 03/15/2055 | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;53759 |
| Eversource Energy |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, 05/15/2033 | 200000 | 200148 |
| &nbsp;&nbsp;&nbsp;5.500%, 01/01/2034 | &nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;81469 |
| Georgia Power Company |  |  |
| &nbsp;&nbsp;&nbsp;4.300%, 03/15/2042 | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;64730 |
| &nbsp;&nbsp;&nbsp;4.550%, 03/15/2030 | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;70663 |
| &nbsp;&nbsp;&nbsp;5.200%, 03/15/2035 | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;60835 |
| Interstate Power & Light Company<br> 5.600%, 06/29/2035 | 155000 | 159320 |
| Jersey Central Power & Light Company<br> 5.100%, 01/15/2035 | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;34897 |
| KeySpan Gas East Corp.<br> 5.994%, 03/06/2033 (C) | &nbsp;&nbsp;29000 | &nbsp;&nbsp;&nbsp;30138 |
| Monongahela Power Company<br> 5.850%, 02/15/2034 (C) | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;15595 |
| Niagara Mohawk Power Corp.<br> 5.290%, 01/17/2034 (C) | &nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;64792 |
| NiSource, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.490%, 05/15/2027 | &nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;83690 |
| &nbsp;&nbsp;&nbsp;5.350%, 07/15/2035 | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;75615 |
| &nbsp;&nbsp;&nbsp;5.400%, 06/30/2033 | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;35795 |
| NSTAR Electric Company<br> 5.400%, 06/01/2034 | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;76835 |
| Ohio Edison Company<br> 5.500%, 01/15/2033 (C) | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;35778 |
| Oncor Electric Delivery Company LLC<br> 5.350%, 04/01/2035 (C) | &nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;96777 |
| Pacific Gas & Electric Company |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, 02/01/2031 | 320000 | 277776 |
| &nbsp;&nbsp;&nbsp;5.900%, 06/15/2032 | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;25515 |
| &nbsp;&nbsp;&nbsp;6.100%, 01/15/2029 | &nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;67344 |
| &nbsp;&nbsp;&nbsp;6.150%, 01/15/2033 | &nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;87546 |
| &nbsp;&nbsp;&nbsp;6.950%, 03/15/2034 | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;64590 |
| Pinnacle West Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.900%, 05/15/2028 | 124000 | 125736 |
| &nbsp;&nbsp;&nbsp;5.150%, 05/15/2030 | 115000 | 117723 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Utilities (continued)** |  |  |
| Public Service Company of Oklahoma<br> 5.200%, 01/15/2035 | $120000 | $&nbsp;&nbsp;&nbsp;&nbsp;119784 |
| Public Service Enterprise Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.900%, 03/15/2030 | 110000 | &nbsp;&nbsp;&nbsp;&nbsp;111890 |
| &nbsp;&nbsp;&nbsp;5.450%, 04/01/2034 | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15329 |
| &nbsp;&nbsp;&nbsp;6.125%, 10/15/2033 | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53106 |
| Puget Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.379%, 06/15/2028 | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33035 |
| &nbsp;&nbsp;&nbsp;4.100%, 06/15/2030 | &nbsp;&nbsp;22000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21250 |
| &nbsp;&nbsp;&nbsp;4.224%, 03/15/2032 | &nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7529 |
| &nbsp;&nbsp;&nbsp;5.725%, 03/15/2035 (C) | 375000 | &nbsp;&nbsp;&nbsp;&nbsp;377245 |
| San Diego Gas & Electric Company<br> 5.400%, 04/15/2035 | 105000 | &nbsp;&nbsp;&nbsp;&nbsp;107216 |
| Southern California Edison Company |  |  |
| &nbsp;&nbsp;&nbsp;3.650%, 02/01/2050 | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23133 |
| &nbsp;&nbsp;&nbsp;4.000%, 04/01/2047 | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50273 |
| &nbsp;&nbsp;&nbsp;4.650%, 10/01/2043 | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16168 |
| &nbsp;&nbsp;&nbsp;5.200%, 06/01/2034 | &nbsp;&nbsp;47000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45583 |
| &nbsp;&nbsp;&nbsp;5.450%, 03/01/2035 | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73621 |
| &nbsp;&nbsp;&nbsp;5.950%, 11/01/2032 | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20524 |
| Southern California Gas Company |  |  |
| &nbsp;&nbsp;&nbsp;5.600%, 04/01/2054 | &nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92475 |
| &nbsp;&nbsp;&nbsp;6.000%, 06/15/2055 | 175000 | &nbsp;&nbsp;&nbsp;&nbsp;178246 |
| The Brooklyn Union Gas Company<br> 3.865%, 03/04/2029 (C) | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53509 |
| Trans-Allegheny Interstate Line Company<br> 5.000%, 01/15/2031 (C) | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30523 |
| Virginia Electric & Power Company |  |  |
| &nbsp;&nbsp;&nbsp;2.450%, 12/15/2050 | &nbsp;&nbsp;43000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24124 |
| &nbsp;&nbsp;&nbsp;5.000%, 04/01/2033 | 130000 | &nbsp;&nbsp;&nbsp;&nbsp;131336 |
| &nbsp;&nbsp;&nbsp;5.000%, 01/15/2034 | 135000 | &nbsp;&nbsp;&nbsp;&nbsp;135163 |
| &nbsp;&nbsp;&nbsp;5.050%, 08/15/2034 | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50106 |
| &nbsp;&nbsp;&nbsp;5.150%, 03/15/2035 | &nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85260 |
| &nbsp;&nbsp;&nbsp;5.350%, 01/15/2054 | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46964 |
| &nbsp;&nbsp;&nbsp;5.650%, 03/15/2055 | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19698 |
| Wisconsin Power and Light Company<br> 5.375%, 03/30/2034 | &nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97184 |
| Xcel Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.600%, 06/01/2032 | &nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83119 |
| &nbsp;&nbsp;&nbsp;4.750%, 03/21/2028 | 110000 | &nbsp;&nbsp;&nbsp;&nbsp;111068 |
| &nbsp;&nbsp;&nbsp;5.600%, 04/15/2035 | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71464 |
|  |  | &nbsp;&nbsp;&nbsp;6317092 |
| TOTAL CORPORATE BONDS (Cost $46,760,072) |  | $47131911 |
| **MUNICIPAL BONDS – 1.4%** |  |  |
| Chicago Board of Education (Illinois), GO<br> 6.138%, 12/01/2039 | 155000 | &nbsp;&nbsp;&nbsp;&nbsp;143725 |
| Chicago Board of Education (Illinois), GO<br> 6.319%, 11/01/2029 | 120000 | &nbsp;&nbsp;&nbsp;&nbsp;118152 |
| County of Riverside (California)<br> 3.070%, 02/15/2028 | 600000 | &nbsp;&nbsp;&nbsp;&nbsp;584735 |
| Metropolitan Transportation Authority (New York)<br> 4.750%, 11/15/2045 | 255000 | &nbsp;&nbsp;&nbsp;&nbsp;248444 |
| Metropolitan Transportation Authority (New York)<br> 5.175%, 11/15/2049 | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22391 |
| New York Transportation Development Corp.<br> 4.248%, 09/01/2035 | 485000 | &nbsp;&nbsp;&nbsp;&nbsp;474792 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 44 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Investment Quality Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **MUNICIPAL BONDS (continued)** |  |  |
| Philadelphia Authority for Industrial Development (Pennsylvania)<br> 6.550%, 10/15/2028 | &nbsp;&nbsp;675000 | $&nbsp;&nbsp;&nbsp;&nbsp;717044 |
| State Board of Administration Finance Corp. (Florida)<br> 1.258%, 07/01/2025 | &nbsp;&nbsp;510000 | &nbsp;&nbsp;&nbsp;&nbsp;510000 |
| TOTAL MUNICIPAL BONDS (Cost $3,004,580) | TOTAL MUNICIPAL BONDS (Cost $3,004,580) | $2819283 |
| **COLLATERALIZED MORTGAGE OBLIGATIONS – 12.2%** | **COLLATERALIZED MORTGAGE OBLIGATIONS – 12.2%** |  |
| **Commercial and residential – 8.9%** |  |  |
| 280 Park Avenue Mortgage Trust<br> Series 2017-280P, Class E (1 month CME Term SOFR + 2.419%)<br> 6.731%, 09/15/2034 (C)(E) | &nbsp;&nbsp;214000 | &nbsp;&nbsp;&nbsp;&nbsp;205975 |
| Angel Oak Mortgage Trust LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-R1, Class A1,<br> 0.990%, 04/25/2053 (C)(F) | &nbsp;&nbsp;&nbsp;&nbsp;57938 | &nbsp;&nbsp;&nbsp;&nbsp;55090 |
| &nbsp;&nbsp;&nbsp;Series 2021-2, Class A1,<br> 0.985%, 04/25/2066 (C)(F) | &nbsp;&nbsp;104361 | &nbsp;&nbsp;&nbsp;&nbsp;89265 |
| &nbsp;&nbsp;&nbsp;Series 2021-4, Class A2,<br> 1.241%, 01/20/2065 (C)(F) | &nbsp;&nbsp;102724 | &nbsp;&nbsp;&nbsp;&nbsp;86795 |
| &nbsp;&nbsp;&nbsp;Series 2021-5, Class A1,<br> 0.951%, 07/25/2066 (C)(F) | &nbsp;&nbsp;239400 | &nbsp;&nbsp;&nbsp;&nbsp;207202 |
| &nbsp;&nbsp;&nbsp;Series 2021-6, Class A1,<br> 1.458%, 09/25/2066 (C)(F) | &nbsp;&nbsp;394922 | &nbsp;&nbsp;&nbsp;&nbsp;332390 |
| &nbsp;&nbsp;&nbsp;Series 2021-8, Class A1,<br> 1.820%, 11/25/2066 (C)(F) | &nbsp;&nbsp;178379 | &nbsp;&nbsp;&nbsp;&nbsp;158499 |
| &nbsp;&nbsp;&nbsp;Series 2022-5, Class A1 (4.500% to 7-1-26, then 5.500% thereafter),<br> 4.500%, 05/25/2067 (C) | &nbsp;&nbsp;438646 | &nbsp;&nbsp;&nbsp;&nbsp;433331 |
| Arroyo Mortgage Trust<br> Series 2019-2, Class A1<br> 3.347%, 04/25/2049 (C)(F) | &nbsp;&nbsp;108848 | &nbsp;&nbsp;&nbsp;&nbsp;105376 |
| BANK |  |  |
| &nbsp;&nbsp;&nbsp;Series 2017-BNK8, Class XA IO,<br> 0.842%, 11/15/2050 | 3604949 | &nbsp;&nbsp;&nbsp;&nbsp;48951 |
| &nbsp;&nbsp;&nbsp;Series 2019-BN18, Class XA IO,<br> 1.026%, 05/15/2062 | 1381141 | &nbsp;&nbsp;&nbsp;&nbsp;38876 |
| &nbsp;&nbsp;&nbsp;Series 2019-BN20, Class XA IO,<br> 0.924%, 09/15/2062 | 2164679 | &nbsp;&nbsp;&nbsp;&nbsp;63298 |
| &nbsp;&nbsp;&nbsp;Series 2019-BN22, Class XA IO,<br> 0.694%, 11/15/2062 | 2382645 | &nbsp;&nbsp;&nbsp;&nbsp;53310 |
| &nbsp;&nbsp;&nbsp;Series 2019-BN23, Class XA IO,<br> 0.799%, 12/15/2052 | 1893079 | &nbsp;&nbsp;&nbsp;&nbsp;48009 |
| &nbsp;&nbsp;&nbsp;Series 2019-BN24, Class XA IO,<br> 0.750%, 11/15/2062 | 1162730 | &nbsp;&nbsp;&nbsp;&nbsp;29140 |
| &nbsp;&nbsp;&nbsp;Series 2020-BN28, Class XA IO,<br> 1.875%, 03/15/2063 | 2505244 | &nbsp;&nbsp;&nbsp;&nbsp;182666 |
| &nbsp;&nbsp;&nbsp;Series 2023-BNK45, Class XA IO,<br> 1.205%, 02/15/2056 | &nbsp;&nbsp;989242 | &nbsp;&nbsp;&nbsp;&nbsp;54724 |
| BBCMS Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2017-C1, Class XA IO,<br> 1.610%, 02/15/2050 | 2550050 | &nbsp;&nbsp;&nbsp;&nbsp;41767 |
| &nbsp;&nbsp;&nbsp;Series 2022-C15, Class A5,<br> 3.662%, 04/15/2055 (F) | &nbsp;&nbsp;110000 | &nbsp;&nbsp;&nbsp;&nbsp;100948 |
| &nbsp;&nbsp;&nbsp;Series 2024-C24, Class XA IO,<br> 1.864%, 02/15/2057 | &nbsp;&nbsp;993913 | &nbsp;&nbsp;&nbsp;&nbsp;97927 |
| &nbsp;&nbsp;&nbsp;Series 2025-C32, Class XA IO,<br> 1.356%, 02/15/2062 | &nbsp;&nbsp;999435 | &nbsp;&nbsp;&nbsp;&nbsp;85361 |
| Benchmark Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-B1, Class XA IO,<br> 0.667%, 01/15/2051 | &nbsp;&nbsp;849265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9190 |
| &nbsp;&nbsp;&nbsp;Series 2018-B4, Class XA IO,<br> 0.618%, 07/15/2051 | 1989051 | &nbsp;&nbsp;&nbsp;&nbsp;21100 |
| &nbsp;&nbsp;&nbsp;Series 2018-B8, Class XA IO,<br> 0.781%, 01/15/2052 | 4376282 | &nbsp;&nbsp;&nbsp;&nbsp;74340 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| Benchmark Mortgage Trust (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-B10, Class XA IO,<br> 1.382%, 03/15/2062 | $2617774 | $&nbsp;&nbsp;&nbsp;99915 |
| &nbsp;&nbsp;&nbsp;Series 2019-B12, Class XA IO,<br> 1.203%, 08/15/2052 | &nbsp;&nbsp;984516 | &nbsp;&nbsp;&nbsp;27651 |
| &nbsp;&nbsp;&nbsp;Series 2019-B15, Class A5,<br> 2.928%, 12/15/2072 | &nbsp;&nbsp;565000 | 522057 |
| &nbsp;&nbsp;&nbsp;Series 2020-B18, Class XA IO,<br> 1.923%, 07/15/2053 | &nbsp;&nbsp;636331 | &nbsp;&nbsp;&nbsp;31501 |
| &nbsp;&nbsp;&nbsp;Series 2020-B22, Class XA IO,<br> 1.615%, 01/15/2054 | 1151085 | &nbsp;&nbsp;&nbsp;75647 |
| BINOM Securitization Trust<br> Series 2021-INV1, Class A1<br> 2.034%, 06/25/2056 (C)(F) | &nbsp;&nbsp;115746 | 104510 |
| BOCA Commercial Mortgage Trust<br> Series 2024-BOCA, Class B (1 month CME Term SOFR + 2.340%)<br> 6.652%, 08/15/2041 (C)(E) | &nbsp;&nbsp;220000 | 220688 |
| BPR Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-STAR, Class A (1 month CME Term SOFR + 3.232%),<br> 7.544%, 08/15/2039 (C)(E) | &nbsp;&nbsp;275000 | 275047 |
| &nbsp;&nbsp;&nbsp;Series 2024-PMDW, Class B,<br> 5.850%, 11/05/2041 (C)(F) | &nbsp;&nbsp;100000 | 101507 |
| BRAVO Residential Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM1, Class A1,<br> 0.941%, 02/25/2049 (C)(F) | &nbsp;&nbsp;&nbsp;&nbsp;53730 | &nbsp;&nbsp;&nbsp;50221 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM2, Class A1,<br> 0.970%, 03/25/2060 (C)(F) | &nbsp;&nbsp;&nbsp;&nbsp;36265 | &nbsp;&nbsp;&nbsp;35155 |
| BWAY Trust<br> Series 2025-1535, Class B<br> 7.710%, 05/05/2042 (C)(F) | &nbsp;&nbsp;295000 | 306097 |
| BX Trust<br> Series 2024-PAT, Class B (1 month CME Term SOFR + 3.039%)<br> 7.351%, 03/15/2041 (C)(E) | &nbsp;&nbsp;&nbsp;&nbsp;39000 | &nbsp;&nbsp;&nbsp;39000 |
| Citigroup Commercial Mortgage Trust<br> Series 2016-C3, Class C<br> 4.141%, 11/15/2049 (F) | &nbsp;&nbsp;288000 | 248929 |
| COLT Mortgage Loan Trust<br> Series 2021-3, Class A1<br> 0.956%, 09/27/2066 (C)(F) | &nbsp;&nbsp;507587 | 423177 |
| Commercial Mortgage Trust (Deutsche<br> Bank AG) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2013-300P, Class A1,<br> 4.353%, 08/10/2030 (C) | &nbsp;&nbsp;160000 | 159791 |
| &nbsp;&nbsp;&nbsp;Series 2022-HC, Class A,<br> 2.819%, 01/10/2039 (C) | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;95077 |
| &nbsp;&nbsp;&nbsp;Series 2022-HC, Class D,<br> 4.084%, 01/10/2039 (C)(F) | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;92243 |
| &nbsp;&nbsp;&nbsp;Series 2024-CBM, Class B,<br> 6.511%, 12/10/2041 (C)(F) | &nbsp;&nbsp;137000 | 139056 |
| Credit Suisse Mortgage<br> Capital Certificates |  |  |
| &nbsp;&nbsp;&nbsp;Series 2017-FHA1, Class A1,<br> 3.250%, 04/25/2047 (C)(F) | &nbsp;&nbsp;117835 | 107515 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM2, Class A1,<br> 1.179%, 02/25/2066 (C)(F) | &nbsp;&nbsp;212118 | 190000 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM8, Class A1,<br> 1.841%, 10/25/2066 (C)(F) | &nbsp;&nbsp;195732 | 175580 |
| &nbsp;&nbsp;&nbsp;Series 2021-RPL4, Class A1,<br> 4.118%, 12/27/2060 (C)(F) | &nbsp;&nbsp;114694 | 114232 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 45 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Investment Quality Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| Credit Suisse Mortgage<br> Capital Certificates (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-NQM1, Class A1,<br> 2.265%, 11/25/2066 (C)(F) | $506461 | $460614 |
| CSAIL Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2015-C2, Class XA IO,<br> 0.420%, 06/15/2057 | 464427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 |
| &nbsp;&nbsp;&nbsp;Series 2016-C6, Class A5,<br> 3.090%, 01/15/2049 | 115000 | 113319 |
| &nbsp;&nbsp;&nbsp;Series 2016-C6, Class XA IO,<br> 2.015%, 01/15/2049 | 978531 | &nbsp;&nbsp;&nbsp;&nbsp;4624 |
| DBJPM Mortgage Trust<br> Series 2020-C9, Class XA IO<br> 1.822%, 09/15/2053 | 481189 | &nbsp;&nbsp;&nbsp;20572 |
| DC Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-HLTN, Class A,<br> 5.933%, 04/13/2040 (C)(F) | &nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;90964 |
| &nbsp;&nbsp;&nbsp;Series 2024-HLTN, Class C,<br> 7.286%, 04/13/2040 (C)(F) | &nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;44966 |
| Deephaven Residential Mortgage Trust<br> Series 2021-2, Class A1<br> 0.899%, 04/25/2066 (C)(F) | &nbsp;&nbsp;66521 | &nbsp;&nbsp;&nbsp;58759 |
| Ellington Financial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-2, Class A1,<br> 0.931%, 06/25/2066 (C)(F) | &nbsp;&nbsp;75069 | &nbsp;&nbsp;&nbsp;62680 |
| &nbsp;&nbsp;&nbsp;Series 2022-1, Class A1,<br> 2.206%, 01/25/2067 (C)(F) | 225964 | 195833 |
| GCAT Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM2, Class A1,<br> 1.036%, 05/25/2066 (C)(F) | 148592 | 126991 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM3, Class A1,<br> 1.091%, 05/25/2066 (C)(F) | 186648 | 161813 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM7, Class A1,<br> 1.915%, 08/25/2066 (C)(F) | 126610 | 117287 |
| &nbsp;&nbsp;&nbsp;Series 2022-HX1, Class A1,<br> 2.885%, 12/27/2066 (C)(F) | 347420 | 324122 |
| GS Mortgage Securities Trust<br> Series 2024-70P, Class B<br> 5.887%, 03/10/2041 (C)(F) | 295000 | 295432 |
| HTL Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-T53, Class B,<br> 6.774%, 05/10/2039 (C)(F) | 130000 | 131086 |
| &nbsp;&nbsp;&nbsp;Series 2024-T53, Class C,<br> 7.324%, 05/10/2039 (C)(F) | 100000 | 101167 |
| Imperial Fund Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM2, Class A1,<br> 1.073%, 09/25/2056 (C)(F) | 145418 | 123270 |
| &nbsp;&nbsp;&nbsp;Series 2022-NQM2, Class A1 (3.638% to 3-25-26, then 4.638% thereafter),<br> 3.638%, 03/25/2067 (C) | 480520 | 459520 |
| JPMorgan Chase Commercial Mortgage<br> Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2016-JP3, Class A5,<br> 2.870%, 08/15/2049 | 115000 | 112351 |
| &nbsp;&nbsp;&nbsp;Series 2020-NNN, Class AFX,<br> 2.812%, 01/16/2037 (C) | 160000 | 143202 |
| Legacy Mortgage Asset Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-GS2, Class A1,<br> 5.750%, 04/25/2061 (C) | 110417 | 110392 |
| &nbsp;&nbsp;&nbsp;Series 2021-GS3, Class A1,<br> 5.750%, 07/25/2061 (C) | 150282 | 149804 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| Legacy Mortgage Asset Trust (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-GS4, Class A1 (4.650% to 8-25-25, then 5.650% thereafter),<br> 4.650%, 11/25/2060 (C) | $&nbsp;&nbsp;73329 | $&nbsp;&nbsp;&nbsp;73316 |
| MFA Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-NQM3, Class A1,<br> 1.014%, 01/26/2065 (C)(F) | &nbsp;&nbsp;14326 | &nbsp;&nbsp;&nbsp;13470 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM1, Class A1,<br> 1.153%, 04/25/2065 (C)(F) | &nbsp;&nbsp;64857 | &nbsp;&nbsp;&nbsp;60688 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM2, Class A1,<br> 1.029%, 11/25/2064 (C)(F) | 102994 | &nbsp;&nbsp;&nbsp;90696 |
| Morgan Stanley Bank of America Merrill Lynch Trust<br> Series 2015-C26, Class A5<br> 3.531%, 10/15/2048 | 139184 | 138730 |
| Morgan Stanley Capital I Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2014-150E, Class A,<br> 3.912%, 09/09/2032 (C) | 610000 | 540186 |
| &nbsp;&nbsp;&nbsp;Series 2017-H1, Class XA IO,<br> 1.448%, 06/15/2050 | 607944 | &nbsp;&nbsp;&nbsp;&nbsp;9707 |
| &nbsp;&nbsp;&nbsp;Series 2021-230P, Class B (1 month CME Term SOFR + 1.563%),<br> 5.875%, 12/15/2038 (C)(E) | 150000 | 139527 |
| Natixis Commercial Mortgage Securities Trust<br> Series 2018-SOX, Class C<br> 4.932%, 06/17/2038 (C)(F) | 100000 | &nbsp;&nbsp;&nbsp;96970 |
| New Residential Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2016-2A, Class A1,<br> 3.750%, 11/26/2035 (C)(F) | 110609 | 107067 |
| &nbsp;&nbsp;&nbsp;Series 2016-4A, Class A1,<br> 3.750%, 11/25/2056 (C)(F) | 123163 | 118017 |
| &nbsp;&nbsp;&nbsp;Series 2017-4A, Class A1,<br> 4.000%, 05/25/2057 (C)(F) | 114920 | 110327 |
| &nbsp;&nbsp;&nbsp;Series 2017-5A, Class A1 (1 month CME Term SOFR + 1.614%),<br> 5.934%, 06/25/2057 (C)(E) | &nbsp;&nbsp;94252 | &nbsp;&nbsp;&nbsp;95525 |
| &nbsp;&nbsp;&nbsp;Series 2018-1A, Class A1A,<br> 4.000%, 12/25/2057 (C)(F) | &nbsp;&nbsp;82423 | &nbsp;&nbsp;&nbsp;80367 |
| &nbsp;&nbsp;&nbsp;Series 2018-4A, Class A1S (1 month CME Term SOFR + 0.864%),<br> 5.184%, 01/25/2048 (C)(E) | 121675 | 119080 |
| &nbsp;&nbsp;&nbsp;Series 2019-5A, Class A1B,<br> 3.500%, 08/25/2059 (C)(F) | 114963 | 109160 |
| &nbsp;&nbsp;&nbsp;Series 2019-NQM4, Class A1,<br> 2.492%, 09/25/2059 (C)(F) | &nbsp;&nbsp;28052 | &nbsp;&nbsp;&nbsp;26758 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQ2R, Class A1,<br> 0.941%, 10/25/2058 (C)(F) | &nbsp;&nbsp;46589 | &nbsp;&nbsp;&nbsp;44358 |
| NMLT Trust<br> Series 2021-INV1, Class A1<br> 1.185%, 05/25/2056 (C)(F) | 303143 | 265250 |
| NYC Commercial Mortgage Trust<br> Series 2025-3BP, Class B (1 month CME Term SOFR + 1.692%)<br> 6.004%, 02/15/2042 (C)(E) | 385000 | 381631 |
| OBX Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM1, Class A1,<br> 1.072%, 02/25/2066 (C)(F) | 206480 | 177342 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM3, Class A1,<br> 1.054%, 07/25/2061 (C)(F) | 470001 | 384541 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM4, Class A1,<br> 1.957%, 10/25/2061 (C)(F) | 112879 | &nbsp;&nbsp;&nbsp;95697 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 46 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Investment Quality Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| OBX Trust (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-NQM1, Class A1,<br> 2.305%, 11/25/2061 (C)(F) | $541049 | $484072 |
| Pretium Mortgage Credit Partners LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-NPL5, Class A1 (5.963% to 9-25-27, then 8.963% to 9-25-28, then 9.963% thereafter),<br> 5.963%, 09/25/2054 (C) | 469881 | 470390 |
| &nbsp;&nbsp;&nbsp;Series 2024-NPL7, Class A1 (5.925% to 10-25-27, then 8.925% to 10-25-28, then 9.925% thereafter),<br> 5.925%, 10/25/2054 (C) | &nbsp;&nbsp;93535 | &nbsp;&nbsp;&nbsp;93291 |
| PRPM LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-4, Class A1,<br> 5.867%, 04/25/2026 (C) | 187949 | 188126 |
| &nbsp;&nbsp;&nbsp;Series 2024-6, Class A1 (5.699% to 11-25-27, then 8.699% to 11-25-28, then 9.699% thereafter),<br> 5.699%, 11/25/2029 (C) | &nbsp;&nbsp;92763 | &nbsp;&nbsp;&nbsp;92980 |
| &nbsp;&nbsp;&nbsp;Series 2024-7, Class A1 (5.870% to 11-25-27, then 8.870% to 11-25-28, then 9.870% thereafter),<br> 5.870%, 11/25/2029 (C) | 205514 | 205454 |
| &nbsp;&nbsp;&nbsp;Series 2025-3, Class A1 (6.255% to 5-1-28, then 9.255% to 5-1-29, then 10.255% thereafter),<br> 6.255%, 05/25/2030 (C) | &nbsp;&nbsp;99257 | &nbsp;&nbsp;&nbsp;99810 |
| RFR Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-SGRM, Class A,<br> 5.562%, 03/11/2041 (C)(F) | 353094 | 359799 |
| &nbsp;&nbsp;&nbsp;Series 2025-SGRM, Class B,<br> 5.863%, 03/11/2041 (C)(F) | 335000 | 340534 |
| SG Commercial Mortgage Securities Trust<br> Series 2020-COVE, Class A<br> 2.632%, 03/15/2037 (C) | 570000 | 532010 |
| SG Residential Mortgage Trust<br> Series 2021-1, Class A1<br> 1.160%, 07/25/2061 (C)(F) | 293740 | 243082 |
| Starwood Mortgage Residential Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1, Class A1,<br> 1.219%, 05/25/2065 (C)(F) | 121721 | 113883 |
| &nbsp;&nbsp;&nbsp;Series 2021-2, Class A1,<br> 0.943%, 05/25/2065 (C)(F) | &nbsp;&nbsp;41131 | &nbsp;&nbsp;&nbsp;38516 |
| &nbsp;&nbsp;&nbsp;Series 2021-6, Class A1,<br> 1.920%, 11/25/2066 (C)(F) | 294821 | 261063 |
| Towd Point Mortgage Trust<br> Series 2021-R1, Class A1<br> 2.918%, 11/30/2060 (C)(F) | 547534 | 476729 |
| Verus Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-2, Class A1,<br> 1.031%, 02/25/2066 (C)(F) | &nbsp;&nbsp;76045 | &nbsp;&nbsp;&nbsp;67487 |
| &nbsp;&nbsp;&nbsp;Series 2021-5, Class A1,<br> 1.013%, 09/25/2066 (C)(F) | 104506 | &nbsp;&nbsp;&nbsp;89836 |
| &nbsp;&nbsp;&nbsp;Series 2021-8, Class A1,<br> 1.824%, 11/25/2066 (C)(F) | 196514 | 179446 |
| &nbsp;&nbsp;&nbsp;Series 2021-R2, Class A1,<br> 0.918%, 02/25/2064 (C)(F) | &nbsp;&nbsp;87438 | &nbsp;&nbsp;&nbsp;80852 |
| &nbsp;&nbsp;&nbsp;Series 2022-1, Class A1 (2.724% to 1-25-26, then 3.724% thereafter),<br> 2.724%, 01/25/2067 (C) | 304666 | 284834 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| Verus Securitization Trust (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-3, Class A1 (4.130% to 3-1-26, then 5.130% thereafter),<br> 4.130%, 02/25/2067 (C) | $&nbsp;&nbsp;&nbsp;&nbsp;69485 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66443 |
| WBRK Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-WBRK, Class A,<br> 5.867%, 03/05/2035 (C)(F) | &nbsp;&nbsp;145000 | &nbsp;&nbsp;&nbsp;&nbsp;149776 |
| &nbsp;&nbsp;&nbsp;Series 2025-WBRK, Class B,<br> 6.278%, 03/05/2035 (C)(F) | &nbsp;&nbsp;315000 | &nbsp;&nbsp;&nbsp;&nbsp;321970 |
| Wells Fargo Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2015-NXS1, Class D,<br> 4.041%, 05/15/2048 (F) | &nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38693 |
| &nbsp;&nbsp;&nbsp;Series 2015-NXS3, Class XA IO,<br> 0.983%, 09/15/2057 | 2053817 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43 |
| &nbsp;&nbsp;&nbsp;Series 2015-NXS4, Class A4,<br> 3.718%, 12/15/2048 | &nbsp;&nbsp;115000 | &nbsp;&nbsp;&nbsp;&nbsp;114455 |
|  |  | 18338880 |
| **U.S. Government Agency – 3.3%** |  |  |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-3, Class MV,<br> 3.500%, 10/25/2058 | &nbsp;&nbsp;103989 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97265 |
| &nbsp;&nbsp;&nbsp;Series 2021-DNA6, Class B1 (30 day Average SOFR + 3.400%),<br> 7.705%, 10/25/2041 (C)(E) | &nbsp;&nbsp;205000 | &nbsp;&nbsp;&nbsp;&nbsp;210524 |
| &nbsp;&nbsp;&nbsp;Series 2021-DNA7, Class B1 (30 day Average SOFR + 3.650%),<br> 7.955%, 11/25/2041 (C)(E) | &nbsp;&nbsp;194000 | &nbsp;&nbsp;&nbsp;&nbsp;200353 |
| &nbsp;&nbsp;&nbsp;Series 2022-DNA3, Class M1B (30 day Average SOFR + 2.900%),<br> 7.205%, 04/25/2042 (C)(E) | &nbsp;&nbsp;168000 | &nbsp;&nbsp;&nbsp;&nbsp;173040 |
| &nbsp;&nbsp;&nbsp;Series 2022-DNA4, Class M1B (30 day Average SOFR + 3.350%),<br> 7.655%, 05/25/2042 (C)(E) | &nbsp;&nbsp;235000 | &nbsp;&nbsp;&nbsp;&nbsp;244194 |
| &nbsp;&nbsp;&nbsp;Series 2022-DNA5, Class M1B (30 day Average SOFR + 4.500%),<br> 8.805%, 06/25/2042 (C)(E) | &nbsp;&nbsp;285000 | &nbsp;&nbsp;&nbsp;&nbsp;302913 |
| &nbsp;&nbsp;&nbsp;Series 2022-DNA6, Class M1B (30 day Average SOFR + 3.700%),<br> 8.005%, 09/25/2042 (C)(E) | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;210688 |
| &nbsp;&nbsp;&nbsp;Series 2022-HQA2, Class M1B (30 day Average SOFR + 4.000%),<br> 8.305%, 07/25/2042 (C)(E) | &nbsp;&nbsp;180000 | &nbsp;&nbsp;&nbsp;&nbsp;189956 |
| &nbsp;&nbsp;&nbsp;Series 2022-HQA3, Class M1B (30 day Average SOFR + 3.550%),<br> 7.855%, 08/25/2042 (C)(E) | &nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73238 |
| &nbsp;&nbsp;&nbsp;Series 2023-HQA1, Class M1B (30 day Average SOFR + 3.500%),<br> 7.805%, 05/25/2043 (C)(E) | &nbsp;&nbsp;445000 | &nbsp;&nbsp;&nbsp;&nbsp;470010 |
| &nbsp;&nbsp;&nbsp;Series 2023-HQA2, Class M1B (30 day Average SOFR + 3.350%),<br> 7.655%, 06/25/2043 (C)(E) | &nbsp;&nbsp;460000 | &nbsp;&nbsp;&nbsp;&nbsp;479094 |
| &nbsp;&nbsp;&nbsp;Series 3883, Class PB,<br> 3.000%, 05/15/2041 | &nbsp;&nbsp;&nbsp;&nbsp;39306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37810 |
| &nbsp;&nbsp;&nbsp;Series 5055, Class DG,<br> 1.500%, 12/25/2050 | &nbsp;&nbsp;349681 | &nbsp;&nbsp;&nbsp;&nbsp;279979 |
| &nbsp;&nbsp;&nbsp;Series 5170, Class DP,<br> 2.000%, 07/25/2050 | &nbsp;&nbsp;332566 | &nbsp;&nbsp;&nbsp;&nbsp;292079 |
| &nbsp;&nbsp;&nbsp;Series K064, Class X1 IO,<br> 0.725%, 03/25/2027 | 2030247 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16936 |
| &nbsp;&nbsp;&nbsp;Series K068, Class A2,<br> 3.244%, 08/25/2027 | &nbsp;&nbsp;545000 | &nbsp;&nbsp;&nbsp;&nbsp;535595 |
| &nbsp;&nbsp;&nbsp;Series K104, Class X1 IO,<br> 1.230%, 01/25/2030 | 1262612 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52683 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 47 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Investment Quality Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Federal Home Loan<br> Mortgage Corp. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series K111, Class X1 IO,<br> 1.676%, 05/25/2030 | $&nbsp;&nbsp;543727 | $&nbsp;&nbsp;&nbsp;33997 |
| &nbsp;&nbsp;&nbsp;Series K114, Class X1 IO,<br> 1.208%, 06/25/2030 | 1588467 | &nbsp;&nbsp;&nbsp;73089 |
| &nbsp;&nbsp;&nbsp;Series K121, Class X1 IO,<br> 1.113%, 10/25/2030 | &nbsp;&nbsp;833111 | &nbsp;&nbsp;&nbsp;35366 |
| &nbsp;&nbsp;&nbsp;Series K122, Class X1 IO,<br> 0.962%, 11/25/2030 | &nbsp;&nbsp;470844 | &nbsp;&nbsp;&nbsp;17834 |
| &nbsp;&nbsp;&nbsp;Series K124, Class X1 IO,<br> 0.806%, 12/25/2030 | 1895912 | &nbsp;&nbsp;&nbsp;61441 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;Series 2012-18, Class GA,<br> 2.000%, 12/25/2041 | &nbsp;&nbsp;&nbsp;&nbsp;40107 | &nbsp;&nbsp;&nbsp;37650 |
| &nbsp;&nbsp;&nbsp;Series 2012-21, Class PQ,<br> 2.000%, 09/25/2041 | &nbsp;&nbsp;&nbsp;&nbsp;21926 | &nbsp;&nbsp;&nbsp;20734 |
| &nbsp;&nbsp;&nbsp;Series 2012-52, Class PA,<br> 3.500%, 05/25/2042 | &nbsp;&nbsp;&nbsp;&nbsp;36534 | &nbsp;&nbsp;&nbsp;35290 |
| &nbsp;&nbsp;&nbsp;Series 2015-48, Class QB,<br> 3.000%, 02/25/2043 | &nbsp;&nbsp;&nbsp;&nbsp;34196 | &nbsp;&nbsp;&nbsp;33487 |
| &nbsp;&nbsp;&nbsp;Series 2016-11, Class GA,<br> 2.500%, 03/25/2046 | &nbsp;&nbsp;&nbsp;&nbsp;61323 | &nbsp;&nbsp;&nbsp;57188 |
| &nbsp;&nbsp;&nbsp;Series 2016-38, Class NA,<br> 3.000%, 01/25/2046 | &nbsp;&nbsp;&nbsp;&nbsp;32575 | &nbsp;&nbsp;&nbsp;30410 |
| &nbsp;&nbsp;&nbsp;Series 2017-16, Class PB,<br> 3.000%, 03/25/2047 | &nbsp;&nbsp;270000 | 233468 |
| &nbsp;&nbsp;&nbsp;Series 2017-26, Class CG,<br> 3.500%, 07/25/2044 | &nbsp;&nbsp;&nbsp;&nbsp;23402 | &nbsp;&nbsp;&nbsp;23178 |
| &nbsp;&nbsp;&nbsp;Series 2017-34, Class JK,<br> 3.000%, 05/25/2047 | &nbsp;&nbsp;&nbsp;&nbsp;19025 | &nbsp;&nbsp;&nbsp;18593 |
| &nbsp;&nbsp;&nbsp;Series 2017-35, Class AH,<br> 3.500%, 04/25/2053 | &nbsp;&nbsp;&nbsp;&nbsp;28276 | &nbsp;&nbsp;&nbsp;28038 |
| &nbsp;&nbsp;&nbsp;Series 2017-49, Class JA,<br> 4.000%, 07/25/2053 | &nbsp;&nbsp;&nbsp;&nbsp;33558 | &nbsp;&nbsp;&nbsp;33346 |
| &nbsp;&nbsp;&nbsp;Series 2017-84, Class KA,<br> 3.500%, 04/25/2053 | &nbsp;&nbsp;&nbsp;&nbsp;41368 | &nbsp;&nbsp;&nbsp;40879 |
| &nbsp;&nbsp;&nbsp;Series 2018-23, Class LA,<br> 3.500%, 04/25/2048 | &nbsp;&nbsp;&nbsp;&nbsp;96566 | &nbsp;&nbsp;&nbsp;91986 |
| &nbsp;&nbsp;&nbsp;Series 2018-70, Class HA,<br> 3.500%, 10/25/2056 | &nbsp;&nbsp;&nbsp;&nbsp;59131 | &nbsp;&nbsp;&nbsp;57941 |
| &nbsp;&nbsp;&nbsp;Series 2019-12, Class HA,<br> 3.500%, 11/25/2057 | &nbsp;&nbsp;113227 | 109366 |
| &nbsp;&nbsp;&nbsp;Series 2019-14, Class CA,<br> 3.500%, 04/25/2049 | &nbsp;&nbsp;106109 | 102238 |
| &nbsp;&nbsp;&nbsp;Series 2019-45, Class PT,<br> 3.000%, 08/25/2049 | &nbsp;&nbsp;100334 | &nbsp;&nbsp;&nbsp;91256 |
| &nbsp;&nbsp;&nbsp;Series 2021-R01, Class 1B1 (30 day Average SOFR + 3.100%),<br> 7.405%, 10/25/2041 (C)(E) | &nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;81939 |
| &nbsp;&nbsp;&nbsp;Series 2022-90, Class AY,<br> 4.500%, 12/25/2041 | &nbsp;&nbsp;640000 | 618696 |
| &nbsp;&nbsp;&nbsp;Series 2022-R01, Class 1B1 (30 day Average SOFR + 3.150%),<br> 7.455%, 12/25/2041 (C)(E) | &nbsp;&nbsp;188000 | 192993 |
| &nbsp;&nbsp;&nbsp;Series 2022-R02, Class 2B1 (30 day Average SOFR + 4.500%),<br> 8.805%, 01/25/2042 (C)(E) | &nbsp;&nbsp;395000 | 412196 |
| &nbsp;&nbsp;&nbsp;Series 2023-R03, Class 2B1 (30 day Average SOFR + 6.350%),<br> 10.655%, 04/25/2043 (C)(E) | &nbsp;&nbsp;170000 | 190455 |
| &nbsp;&nbsp;&nbsp;Series 2024-R02, Class 1M2 (30 day Average SOFR + 1.800%),<br> 6.105%, 02/25/2044 (C)(E) | &nbsp;&nbsp;&nbsp;&nbsp;88000 | &nbsp;&nbsp;&nbsp;88741 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Federal National<br> Mortgage Association (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 415, Class A3,<br> 3.000%, 11/25/2042 | &nbsp;&nbsp;81085 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74546 |
| Government National<br> Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;Series 2006-38, Class XS IO,<br> 2.824%, 09/16/2035 | &nbsp;&nbsp;&nbsp;5653 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32 |
| &nbsp;&nbsp;&nbsp;Series 2013-37, Class LG,<br> 2.000%, 01/20/2042 | &nbsp;&nbsp;29178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28412 |
|  |  | &nbsp;&nbsp;&nbsp;6821142 |
| TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $26,685,124) | TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $26,685,124) | $25160022 |
| **ASSET-BACKED SECURITIES – 7.7%** | **ASSET-BACKED SECURITIES – 7.7%** |  |
| AASET Trust<br> Series 2020-1A, Class A<br> 3.351%, 01/16/2040 (C) | &nbsp;&nbsp;50772 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49307 |
| Affirm Asset Securitization Trust<br> Series 2024-X2, Class B<br> 5.330%, 12/17/2029 (C) | 120000 | &nbsp;&nbsp;&nbsp;&nbsp;120130 |
| Affirm Master Trust<br> Series 2025-2A, Class A<br> 4.670%, 07/15/2033 (C) | 260000 | &nbsp;&nbsp;&nbsp;&nbsp;260865 |
| Aligned Data Centers Issuer LLC<br> Series 2023-1A, Class A2<br> 6.000%, 08/17/2048 (C) | 265000 | &nbsp;&nbsp;&nbsp;&nbsp;267508 |
| Avis Budget Rental Car Funding AESOP LLC<br> Series 2024-3A, Class B<br> 5.580%, 12/20/2030 (C) | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;102403 |
| Battalion CLO XXV, Ltd.<br> Series 2024-25A, Class B (3 month CME Term SOFR + 2.200%)<br> 6.469%, 03/13/2037 (C)(E) | 395000 | &nbsp;&nbsp;&nbsp;&nbsp;396723 |
| Benefit Street Partners Clo Xxxi Ltd.<br> Series 2023-31A, Class BR (3 month CME Term SOFR + 1.750%)<br> 6.032%, 04/25/2038 (C)(E) | 270000 | &nbsp;&nbsp;&nbsp;&nbsp;270788 |
| Blue Owl Asset Leasing Trust<br> Series 2024-1A, Class B<br> 5.410%, 03/15/2030 (C) | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;101000 |
| CF Hippolyta Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-1, Class A1<br> 1.690%, 07/15/2060 (C) | 104128 | &nbsp;&nbsp;&nbsp;&nbsp;103013 |
| &nbsp;&nbsp;&nbsp;Series 2020-1, Class A2<br> 1.990%, 07/15/2060 (C) | 125976 | &nbsp;&nbsp;&nbsp;&nbsp;116442 |
| &nbsp;&nbsp;&nbsp;Series 2022-1A, Class A1<br> 5.970%, 08/15/2062 (C) | 100644 | &nbsp;&nbsp;&nbsp;&nbsp;100900 |
| Commercial Equipment Finance LLC<br> Series 2024-1A, Class A<br> 5.970%, 07/16/2029 (C) | 123501 | &nbsp;&nbsp;&nbsp;&nbsp;124700 |
| Domino's Pizza Master Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-1A, Class A2I<br> 4.116%, 07/25/2048 (C) | 350575 | &nbsp;&nbsp;&nbsp;&nbsp;349463 |
| &nbsp;&nbsp;&nbsp;Series 2019-1A, Class A2<br> 3.668%, 10/25/2049 (C) | 168000 | &nbsp;&nbsp;&nbsp;&nbsp;160051 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2I<br> 2.662%, 04/25/2051 (C) | 598087 | &nbsp;&nbsp;&nbsp;&nbsp;558039 |
| Elmwood CLO 23, Ltd.<br> Series 2023-2A, Class BR (3 month CME Term SOFR + 1.750%)<br> 6.079%, 04/16/2036 (C)(E) | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;250502 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 48 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Investment Quality Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET-BACKED SECURITIES (continued)** | **ASSET-BACKED SECURITIES (continued)** |  |
| FirstKey Homes Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-SFR1, Class A<br> 4.145%, 05/19/2039 (C) | $137248 | $136343 |
| &nbsp;&nbsp;&nbsp;Series 2022-SFR2, Class A<br> 4.250%, 07/17/2039 (C) | 561581 | 558849 |
| GLS Auto Receivables Issuer Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-4A, Class B<br> 4.890%, 04/16/2029 (C) | 175000 | 175650 |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class B<br> 4.980%, 07/16/2029 (C) | 285000 | 286967 |
| GLS Auto Select Receivables Trust<br> Series 2025-3A, Class B<br> 4.820%, 09/15/2031 (C) | 433000 | 432885 |
| Golub Capital Partners CLO 68B, Ltd.<br> Series 2023-68A, Class B (3 month CME Term SOFR + 2.800%)<br> 7.082%, 07/25/2036 (C)(E) | 250000 | 250611 |
| Hertz Vehicle Financing III LLC<br> Series 2025-2A, Class A<br> 5.130%, 09/25/2031 (C) | 145000 | 145421 |
| MF1, Ltd.<br> Series 2022-FL8, Class AS (1 month CME Term SOFR + 1.750%)<br> 6.068%, 02/19/2037 (C)(E) | 335000 | 333842 |
| Navient Private Education Refi<br> Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-EA, Class A<br> 0.970%, 12/16/2069 (C) | 114514 | 102457 |
| &nbsp;&nbsp;&nbsp;Series 2021-FA, Class A<br> 1.110%, 02/18/2070 (C) | 167286 | 148136 |
| &nbsp;&nbsp;&nbsp;Series 2023-A, Class A<br> 5.510%, 10/15/2071 (C) | 213004 | 217671 |
| New Economy Assets Phase 1 Sponsor LLC<br> Series 2021-1, Class A1<br> 1.910%, 10/20/2061 (C) | 310000 | 291861 |
| NRZ Excess Spread-Collateralized Notes<br> Series 2020-PLS1, Class A<br> 3.844%, 12/25/2025 (C) | &nbsp;&nbsp;23142 | &nbsp;&nbsp;&nbsp;22909 |
| Post Road Equipment Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class A2<br> 4.900%, 05/15/2031 (C) | 100000 | 100552 |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class B<br> 5.040%, 05/15/2031 (C) | 100000 | 101275 |
| PRET LLC<br> Series 2025-NPL6, Class A1 (5.744% to 6-25-28, then 8.744% to 6-25-29, then 11.744% thereafter)<br> 5.744%, 06/25/2055 (C) | 510000 | 510035 |
| Progress Residential Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-SFR8, Class A<br> 1.510%, 10/17/2038 (C) | 387116 | 375359 |
| &nbsp;&nbsp;&nbsp;Series 2022-SFR3, Class A<br> 3.200%, 04/17/2039 (C) | 129254 | 126120 |
| &nbsp;&nbsp;&nbsp;Series 2022-SFR5, Class A<br> 4.451%, 06/17/2039 (C) | &nbsp;&nbsp;99792 | &nbsp;&nbsp;&nbsp;99685 |
| &nbsp;&nbsp;&nbsp;Series 2022-SFR6, Class A<br> 4.451%, 07/20/2039 (C) | 621449 | 619944 |
| &nbsp;&nbsp;&nbsp;Series 2022-SFR7, Class A<br> 4.750%, 10/27/2039 (C) | 162142 | 162840 |
| &nbsp;&nbsp;&nbsp;Series 2025-SFR1, Class A<br> 3.400%, 02/17/2042 (C) | 300000 | 284247 |
| Retained Vantage Data Centers Issuer LLC<br> Series 2023-1A, Class A2A<br> 5.000%, 09/15/2048 (C) | 395000 | 391614 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET-BACKED SECURITIES (continued)** | **ASSET-BACKED SECURITIES (continued)** |  |
| RR 23, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-23A, Class A2R (3 month CME Term SOFR + 2.650%)<br> 6.906%, 10/15/2035 (C)(E) | $520000 | $520000 |
| &nbsp;&nbsp;&nbsp;Series 2022-23A, Class A2R2 (3 month CME Term SOFR + 1.650%)<br> 5.946%, 07/15/2037 (C)(E) | 520000 | 520000 |
| Sabey Data Center Issuer LLC<br> Series 2024-1, Class A2<br> 6.000%, 04/20/2049 (C) | &nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;65829 |
| Santander Drive Auto Receivables Trust<br> Series 2023-1, Class B<br> 4.980%, 02/15/2028 | &nbsp;&nbsp;45090 | &nbsp;&nbsp;&nbsp;45112 |
| SCF Equipment Trust LLC<br> Series 2025-1A, Class A3<br> 5.110%, 11/21/2033 (C) | 170000 | 173413 |
| Securitized Term Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-A, Class B<br> 5.038%, 07/25/2031 (C) | &nbsp;&nbsp;64343 | &nbsp;&nbsp;&nbsp;64807 |
| &nbsp;&nbsp;&nbsp;Series 2025-B, Class B<br> 4.925%, 12/29/2032 (C) | 215000 | 215497 |
| SFS Auto Receivables Securitization Trust<br> Series 2023-1A, Class B<br> 5.710%, 01/22/2030 (C) | 115000 | 117681 |
| Sound Point CLO XXIX, Ltd.<br> Series 2021-1A, Class A (3 month CME Term SOFR + 1.332%)<br> 5.613%, 04/25/2034 (C)(E) | 655000 | 656441 |
| Stack Infrastructure Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2023-2A, Class A2<br> 5.900%, 07/25/2048 (C) | 225000 | 226849 |
| &nbsp;&nbsp;&nbsp;Series 2024-1A, Class A2<br> 5.900%, 03/25/2049 (C) | 120000 | 121988 |
| Summit Issuer LLC<br> Series 2020-1A, Class A2<br> 2.290%, 12/20/2050 (C) | 155000 | 152812 |
| Taco Bell Funding LLC<br> Series 2021-1A, Class A2II<br> 2.294%, 08/25/2051 (C) | 878355 | 798703 |
| Texas Debt Capital CLO, Ltd.<br> Series 2023-1A, Class BR (3 month CME Term SOFR + 1.650%)<br> 5.925%, 07/20/2038 (C)(E) | 300000 | 300000 |
| Tricolor Auto Securitization Trust<br> Series 2024-3A, Class A<br> 5.220%, 06/15/2028 (C) | &nbsp;&nbsp;68962 | &nbsp;&nbsp;&nbsp;69057 |
| VB Issuer LLC<br> Series 2024-1A, Class C2<br> 5.590%, 05/15/2054 (C) | 255000 | 258284 |
| Venture 42 CLO, Ltd.<br> Series 2021-42A, Class A1A (3 month CME Term SOFR + 1.392%)<br> 5.648%, 04/15/2034 (C)(E) | 655000 | 655446 |
| VOLT CII LLC<br> Series 2021-NP11, Class A1 (4.868% to 7-25-25, then 5.868% thereafter)<br> 4.868%, 08/25/2051 (C) | 272370 | 271951 |
| VOLT CIII LLC<br> Series 2021-CF1, Class A1 (4.992% to 8-25-25, then 5.992% thereafter)<br> 4.992%, 08/25/2051 (C) | 146602 | 146605 |
| VOLT XCIV LLC<br> Series 2021-NPL3, Class A1<br> 6.240%, 02/27/2051 (C) | &nbsp;&nbsp;20325 | &nbsp;&nbsp;&nbsp;20316 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 49 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Investment Quality Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET-BACKED SECURITIES (continued)** | **ASSET-BACKED SECURITIES (continued)** |  |
| Wendy's Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-1A, Class A2II<br> 3.884%, 03/15/2048 (C) | $&nbsp;&nbsp;217325 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212010 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2II<br> 2.775%, 06/15/2051 (C) | &nbsp;&nbsp;633596 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560218 |
| Wingstop Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-1A, Class A2<br> 2.841%, 12/05/2050 (C) | &nbsp;&nbsp;197000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186703 |
| &nbsp;&nbsp;&nbsp;Series 2024-1A, Class A2<br> 5.858%, 12/05/2054 (C) | &nbsp;&nbsp;110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112048 |
| Zayo Issuer LLC<br> Series 2025-1A, Class A2<br> 5.648%, 03/20/2055 (C) | &nbsp;&nbsp;290000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;296052 |
| TOTAL ASSET-BACKED SECURITIES (Cost $15,745,770) |  | $&nbsp;&nbsp;15974929 |
| **SHORT-TERM INVESTMENTS – 3.0%** | **SHORT-TERM INVESTMENTS – 3.0%** |  |
| **Short-term funds – 0.3%** |  |  |
| John Hancock Collateral Trust, 4.2596% (G)(H) | &nbsp;&nbsp;&nbsp;&nbsp;66105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;661212 |
| **Repurchase agreement – 2.7%** |  |  |
| Deutsche Bank Tri-Party Repurchase Agreement dated 6-30-25 at 4.400% to be repurchased at $5,500,672 on 7-1-25, collateralized by $5,794,800 U.S. Treasury Bonds, 4.625% due 5-15-54 (valued at $5,610,069) | $5500000 | &nbsp;&nbsp;&nbsp;&nbsp;5500000 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $6,161,213) | TOTAL SHORT-TERM INVESTMENTS (Cost $6,161,213) | $&nbsp;&nbsp;&nbsp;&nbsp;6161212 |
| **Total Investments (Investment Quality Bond Trust)<br> (Cost $251,420,282) – 114.9%** | **Total Investments (Investment Quality Bond Trust)<br> (Cost $251,420,282) – 114.9%** | $**237942695** |
| **Other assets and liabilities, net – (14.9%)** |  | **(30825145)** |
| **TOTAL NET ASSETS – 100.0%** |  | $**207117550** |

---

<u>Currency Abbreviations</u> <br> EUR Euro

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| CME | CME Group Published Rates |
| CMT | Constant Maturity Treasury |
| EURIBOR | Euro Interbank Offered Rate |
| GO | General Obligation |
| ICE | Intercontinental Exchange |
| IO | Interest-Only Security - (Interest Tranche of Stripped Mortgage Pool). Rate shown is the annualized yield at the end of the period. |
| SOFR | Secured Overnight Financing Rate |
| TBA | To Be Announced. A forward mortgage-backed securities trade issued by a U.S. Government Agency, to be delivered at an agreed-upon future settlement date. |
| (A) | All or a portion of this security is segregated at the custodian as collateral for certain derivatives. |
| (B) | Security purchased or sold on a when-issued or delayed-delivery basis. |
| (C) | This security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. Rule 144A securities amounted to $53,343,757 or 25.8% of the fund's net assets as of 6-30-25. |
| (D) | All or a portion of this security is on loan as of 6-30-25. |
| (E) | Variable rate obligation. The coupon rate shown represents the rate at period end. |
| (F) | Variable or floating rate security, the interest rate of which adjusts periodically based on a weighted average of interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of period end. |
| (G) | The rate shown is the annualized seven-day yield as of 6-30-25. |
| (H) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |

---

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| 10-Year Australian Treasury Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;$4115551 | &nbsp;&nbsp;&nbsp;&nbsp;$4149018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$33467 |
| 10-Year Canada Government Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6944726 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6988067 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43341 |
| 2-Year U.S. Treasury Note Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7484749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7488844 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4095 |
| 5-Year U.S. Treasury Note Futures | &nbsp;&nbsp;&nbsp;&nbsp;170 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;18300869 | &nbsp;&nbsp;&nbsp;&nbsp;18530006 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229137 |
| 10-Year U.S. Treasury Note Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8402642) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8521500) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(118858) |
| Euro-BTP Italian Government Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2846221) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2850641) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4420) |
| Euro-Buxl Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1141567) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1118959) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22608 |
| Euro-OAT Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3968574) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3938690) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29884 |
| German Euro BUND Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(462005) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(459931) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2074 |
| U.S. Treasury Long Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3674553) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3810469) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(135916) |
| Ultra 10-Year U.S. Treasury Note Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8528486) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8684188) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(155702) |
| Ultra U.S. Treasury Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1249772) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1310375) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(60603) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$(110893)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

#### FORWARD FOREIGN CURRENCY CONTRACTS

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Contract to buy** | **Contract to buy** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Counterparty (OTC)** | &nbsp;&nbsp;**Contractual<br> settlement<br> date** | &nbsp;&nbsp;**Unrealized<br> appreciation** | &nbsp;&nbsp;**Unrealized<br> depreciation** |
| BRL | &nbsp;&nbsp;424000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;74340 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;$2223 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;74456 | &nbsp;&nbsp;BRL | &nbsp;&nbsp;424000 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;$(2108) |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 50 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Investment Quality Bond Trust (continued) FORWARD FOREIGN CURRENCY CONTRACTS (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contract to buy** | **Contract to buy** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Contractual<br> settlement<br> date** | &nbsp;&nbsp;**Unrealized<br> appreciation** | &nbsp;&nbsp;**Unrealized<br> depreciation** |
| USD | &nbsp;&nbsp;2741099 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;2384000 &nbsp;&nbsp;DB | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;$(81418) |
|  |  |  |  |  | &nbsp;&nbsp;**$2223** | &nbsp;&nbsp;**$(83526)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

#### SWAPS

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** |
| **Counterparty (OTC)/<br> Centrally cleared** | **Notional<br> amount** | **Currency** | **Payments<br> made** | **Payments<br> received** | **Fixed<br> payment<br> frequency** | **Floating<br> payment<br> frequency** | **Maturity<br> date** | **Unamortized<br> upfront<br> payment paid<br> (received)** | **Unrealized<br> appreciation<br> (depreciation)** | **Value** |
| Centrally cleared | 1187000 | USD | Fixed 1.560% | USD Compounded SOFR | Annual | Annual | Dec 2041 | &nbsp;&nbsp;$(5469) | &nbsp;&nbsp;&nbsp;$366755 | &nbsp;&nbsp;&nbsp;$361286 |
| Centrally cleared | 3940000 | USD | Fixed 4.160% | USD Compounded SOFR | Annual | Annual | Mar 2045 | &nbsp;&nbsp;&nbsp;(7767) | &nbsp;&nbsp;&nbsp;&nbsp;(96408) | &nbsp;&nbsp;&nbsp;(104175) |
| Centrally cleared | 1320000 | USD | Fixed 1.560% | USD Compounded SOFR | Annual | Annual | Dec 2051 | &nbsp;&nbsp;&nbsp;(7288) | &nbsp;&nbsp;&nbsp;&nbsp;546413 | &nbsp;&nbsp;&nbsp;&nbsp;539125 |
| Centrally cleared | &nbsp;&nbsp;&nbsp;380000 | USD | Fixed 2.880% | USD Compounded SOFR | Annual | Annual | Mar 2053 | &nbsp;&nbsp;&nbsp;&nbsp;4137 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65267 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69404 |
| Centrally cleared | 1105000 | USD | Fixed 2.970% | USD Compounded SOFR | Annual | Annual | Mar 2053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;621 | &nbsp;&nbsp;&nbsp;&nbsp;184089 | &nbsp;&nbsp;&nbsp;&nbsp;184710 |
| Centrally cleared | &nbsp;&nbsp;&nbsp;370000 | USD | Fixed 3.250% | USD Compounded SOFR | Annual | Annual | Jun 2053 | &nbsp;&nbsp;&nbsp;(3784) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42961 |
|  |  |  |  |  |  |  |  | **$(19550)** | **$1112861** | **$1093311** |

---

---

| | |
|:---|:---|
| <u>Derivatives Currency Abbreviations</u> | <u>Derivatives Currency Abbreviations</u> |
| BRL | Brazilian Real |
| EUR | Euro |
| USD | U.S. Dollar |

---

---

| | |
|:---|:---|
| <u>Derivatives Abbreviations</u> | <u>Derivatives Abbreviations</u> |
| DB | Deutsche Bank AG |
| GSI | Goldman Sachs International |
| OTC | Over-the-counter |
| SOFR | Secured Overnight Financing Rate |
| SSB | State Street Bank and Trust Company |

---

&nbsp;&nbsp;&nbsp;&nbsp;

See Notes to financial statements regarding investment transactions and other derivatives information.

#### Money Market Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT – 29.4%** |  |  |
| U.S. Treasury Bill<br> 4.296%, 08/05/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32000000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31868711 |
| U.S. Treasury Note |  |  |
| &nbsp;&nbsp;&nbsp;4.199%, 12/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20001643 |
| &nbsp;&nbsp;&nbsp;4.230%, 10/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40096192 |
| &nbsp;&nbsp;&nbsp;4.296%, 01/31/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29717041 |
| &nbsp;&nbsp;&nbsp;4.430%, (3 month USBMMY + 0.170%), 10/31/2025 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263369600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263405373 |
| &nbsp;&nbsp;&nbsp;4.431%, (3 month USBMMY + 0.245%), 01/31/2026 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37349600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37374405 |
| &nbsp;&nbsp;&nbsp;4.447%, (3 month USBMMY + 0.125%), 07/31/2025 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;267429200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;267424580 |
| &nbsp;&nbsp;&nbsp;4.453%, (3 month USBMMY + 0.150%), 04/30/2026 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18607400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18607046 |
| TOTAL U.S. GOVERNMENT (Cost $708,494,991) |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;708494991 |
| **U.S. GOVERNMENT AGENCY – 54.2%** | **U.S. GOVERNMENT AGENCY – 54.2%** |  |
| Federal Agricultural Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.157%, 07/01/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31000000 |
| &nbsp;&nbsp;&nbsp;4.179%, 03/23/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3541000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3436737 |
| &nbsp;&nbsp;&nbsp;4.194%, 07/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8985545 |
| &nbsp;&nbsp;&nbsp;4.218%, 02/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11411000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11411000 |
| &nbsp;&nbsp;&nbsp;4.231%, 09/08/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19359000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19205386 |
| &nbsp;&nbsp;&nbsp;4.238%, 01/23/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16000000 |
| &nbsp;&nbsp;&nbsp;4.238%, 02/02/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45000000 |
| &nbsp;&nbsp;&nbsp;4.265%, 01/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8117000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8117000 |

---

#### Money Market Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AGENCY (continued)** | **U.S. GOVERNMENT AGENCY (continued)** |  |
| Federal Agricultural<br> Mortgage Corp. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;4.288%, 12/12/2025 | $15212000 | $15212000 |
| &nbsp;&nbsp;&nbsp;4.295%, 01/23/2026 | &nbsp;&nbsp;6095000 | &nbsp;&nbsp;&nbsp;6095000 |
| &nbsp;&nbsp;&nbsp;4.346%, 02/13/2026 | 23000000 | 23000000 |
| &nbsp;&nbsp;&nbsp;4.386%, 02/18/2026 | 12000000 | 12000000 |
| &nbsp;&nbsp;&nbsp;4.436%, 01/21/2026 | 20000000 | 20000000 |
| &nbsp;&nbsp;&nbsp;4.461%, (Overnight SOFR + 0.010%), 10/02/2025 (A) | 19872000 | 19872000 |
| &nbsp;&nbsp;&nbsp;4.471%, (Overnight SOFR + 0.020%), 11/07/2025 (A) | 29997000 | 29997000 |
| &nbsp;&nbsp;&nbsp;4.471%, (Overnight SOFR + 0.020%), 12/08/2025 (A) | 50000000 | 50000000 |
| &nbsp;&nbsp;&nbsp;4.486%, (Overnight SOFR + 0.035%), 02/11/2026 (A) | 19418000 | 19418000 |
| &nbsp;&nbsp;&nbsp;4.492%, (Overnight SOFR + 0.040%), 03/27/2026 (A) | 13049000 | 13049000 |
| &nbsp;&nbsp;&nbsp;4.492%, (Overnight SOFR + 0.040%), 02/09/2026 (A) | 10500000 | 10500000 |
| &nbsp;&nbsp;&nbsp;4.512%, (Overnight SOFR + 0.060%), 07/24/2025 (A) | 15512000 | 15512000 |
| &nbsp;&nbsp;&nbsp;4.512%, (Overnight SOFR + 0.060%), 01/16/2026 (A) | &nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;5000000 |
| &nbsp;&nbsp;&nbsp;4.517%, (Overnight SOFR + 0.065%), 06/02/2026 (A) | 10000000 | 10000000 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 51 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Money Market Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AGENCY (continued)** | **U.S. GOVERNMENT AGENCY (continued)** |  |
| Federal Agricultural<br> Mortgage Corp. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;4.573%, (Overnight SOFR + 0.120%), 03/13/2026 (A) | $15642000 | $15642000 |
| &nbsp;&nbsp;&nbsp;4.593%, (Overnight SOFR + 0.140%), 10/15/2026 (A) | 10000000 | 10000000 |
| &nbsp;&nbsp;&nbsp;4.613%, (Overnight SOFR + 0.160%), 08/28/2026 (A) | 20000000 | 20000000 |
| &nbsp;&nbsp;&nbsp;4.613%, (Overnight SOFR + 0.160%), 11/02/2026 (A) | &nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;2500000 |
| &nbsp;&nbsp;&nbsp;4.629%, (Overnight SOFR + 0.180%), 12/22/2025 (A) | &nbsp;&nbsp;2502000 | &nbsp;&nbsp;&nbsp;2502052 |
| &nbsp;&nbsp;&nbsp;4.654%, (Overnight SOFR + 0.200%), 12/18/2025 (A) | 12727000 | 12727000 |
| Federal Farm Credit Bank |  |  |
| &nbsp;&nbsp;&nbsp;3.864%, 04/09/2026 | &nbsp;&nbsp;6000000 | &nbsp;&nbsp;&nbsp;6000000 |
| &nbsp;&nbsp;&nbsp;4.088%, 10/02/2025 | 10000000 | &nbsp;&nbsp;&nbsp;9896925 |
| &nbsp;&nbsp;&nbsp;4.202%, 08/01/2025 | &nbsp;&nbsp;6118000 | &nbsp;&nbsp;&nbsp;6096242 |
| &nbsp;&nbsp;&nbsp;4.220%, 10/27/2025 | &nbsp;&nbsp;1798000 | &nbsp;&nbsp;&nbsp;1779460 |
| &nbsp;&nbsp;&nbsp;4.221%, 04/02/2026 | &nbsp;&nbsp;2657000 | &nbsp;&nbsp;&nbsp;2575104 |
| &nbsp;&nbsp;&nbsp;4.225%, 09/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;726000 | &nbsp;&nbsp;&nbsp;&nbsp;720414 |
| &nbsp;&nbsp;&nbsp;4.229%, 03/13/2026 | &nbsp;&nbsp;2838000 | &nbsp;&nbsp;&nbsp;2842518 |
| &nbsp;&nbsp;&nbsp;4.247%, 02/03/2026 | &nbsp;&nbsp;9461000 | &nbsp;&nbsp;&nbsp;9456163 |
| &nbsp;&nbsp;&nbsp;4.300%, 07/03/2025 | &nbsp;&nbsp;9708000 | &nbsp;&nbsp;&nbsp;9705713 |
| &nbsp;&nbsp;&nbsp;4.303%, 01/09/2026 | &nbsp;&nbsp;8112000 | &nbsp;&nbsp;&nbsp;8105974 |
| &nbsp;&nbsp;&nbsp;4.318%, 01/16/2026 | 12000000 | 11997935 |
| &nbsp;&nbsp;&nbsp;4.324%, 11/24/2025 | &nbsp;&nbsp;2689000 | &nbsp;&nbsp;&nbsp;2649593 |
| &nbsp;&nbsp;&nbsp;4.329%, 05/28/2026 | 21415000 | 21410110 |
| &nbsp;&nbsp;&nbsp;4.339%, 12/09/2025 | &nbsp;&nbsp;3779000 | &nbsp;&nbsp;&nbsp;3777350 |
| &nbsp;&nbsp;&nbsp;4.364%, 07/08/2025 | &nbsp;&nbsp;4626000 | &nbsp;&nbsp;&nbsp;4626665 |
| &nbsp;&nbsp;&nbsp;4.379%, 10/10/2025 | &nbsp;&nbsp;1437000 | &nbsp;&nbsp;&nbsp;1439879 |
| &nbsp;&nbsp;&nbsp;4.512%, (Overnight SOFR + 0.060%), 08/26/2025 (A) | 12446000 | 12446000 |
| Federal Home Loan Bank |  |  |
| &nbsp;&nbsp;&nbsp;4.035%, 12/22/2025 | &nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;1480087 |
| &nbsp;&nbsp;&nbsp;4.080%, 09/26/2025 | 18603000 | 18423845 |
| &nbsp;&nbsp;&nbsp;4.141%, 06/10/2026 | &nbsp;&nbsp;3645000 | &nbsp;&nbsp;&nbsp;3644110 |
| &nbsp;&nbsp;&nbsp;4.156%, 02/24/2026 | &nbsp;&nbsp;2800000 | &nbsp;&nbsp;&nbsp;2738150 |
| &nbsp;&nbsp;&nbsp;4.206%, 03/24/2026 | &nbsp;&nbsp;1400000 | &nbsp;&nbsp;&nbsp;1391733 |
| &nbsp;&nbsp;&nbsp;4.211%, 07/08/2025 | 73358000 | 73298804 |
| &nbsp;&nbsp;&nbsp;4.212%, 07/09/2025 | 98620000 | 98529050 |
| &nbsp;&nbsp;&nbsp;4.212%, 10/02/2025 | &nbsp;&nbsp;3258000 | &nbsp;&nbsp;&nbsp;3223408 |
| &nbsp;&nbsp;&nbsp;4.214%, 07/30/2025 | 18890000 | 18826971 |
| &nbsp;&nbsp;&nbsp;4.221%, 07/07/2025 | 19867000 | 19853226 |
| &nbsp;&nbsp;&nbsp;4.222%, 11/05/2025 | 14000000 | 13993719 |
| &nbsp;&nbsp;&nbsp;4.236%, 07/18/2025 | 24667000 | 24618427 |
| &nbsp;&nbsp;&nbsp;4.245%, 07/16/2025 | &nbsp;&nbsp;1836000 | &nbsp;&nbsp;&nbsp;1832802 |
| &nbsp;&nbsp;&nbsp;4.249%, 02/26/2026 | &nbsp;&nbsp;7565000 | &nbsp;&nbsp;&nbsp;7397445 |
| &nbsp;&nbsp;&nbsp;4.249%, 01/23/2026 | &nbsp;&nbsp;1700000 | &nbsp;&nbsp;&nbsp;1699151 |
| &nbsp;&nbsp;&nbsp;4.250%, 01/27/2026 | &nbsp;&nbsp;1510000 | &nbsp;&nbsp;&nbsp;1510297 |
| &nbsp;&nbsp;&nbsp;4.263%, 07/10/2025 | 39000000 | 38959050 |
| &nbsp;&nbsp;&nbsp;4.267%, 01/21/2026 | &nbsp;&nbsp;2420000 | &nbsp;&nbsp;&nbsp;2418580 |
| &nbsp;&nbsp;&nbsp;4.267%, 08/08/2025 | &nbsp;&nbsp;7435000 | &nbsp;&nbsp;&nbsp;7402117 |
| &nbsp;&nbsp;&nbsp;4.273%, 07/30/2025 | 40000000 | 39864667 |
| &nbsp;&nbsp;&nbsp;4.275%, 10/29/2025 | &nbsp;&nbsp;1110000 | &nbsp;&nbsp;&nbsp;1106088 |
| &nbsp;&nbsp;&nbsp;4.283%, 12/30/2025 | &nbsp;&nbsp;1965000 | &nbsp;&nbsp;&nbsp;1931809 |
| &nbsp;&nbsp;&nbsp;4.308%, 01/16/2026 | 10000000 | &nbsp;&nbsp;&nbsp;9999852 |
| &nbsp;&nbsp;&nbsp;4.312%, 10/16/2025 | 12000000 | 11850200 |
| &nbsp;&nbsp;&nbsp;4.322%, 09/15/2025 | &nbsp;&nbsp;9249000 | &nbsp;&nbsp;&nbsp;9166504 |
| &nbsp;&nbsp;&nbsp;4.324%, 04/10/2026 | 18000000 | 18000000 |
| &nbsp;&nbsp;&nbsp;4.343%, 05/22/2026 | 12650000 | 12650000 |
| &nbsp;&nbsp;&nbsp;4.346%, 08/20/2025 | &nbsp;&nbsp;1005000 | &nbsp;&nbsp;&nbsp;1003126 |
| &nbsp;&nbsp;&nbsp;4.350%, (Overnight SOFR - 0.010%), 09/30/2025 (A) | 17725000 | 17725000 |
| &nbsp;&nbsp;&nbsp;4.374%, 04/20/2026 | 11920000 | 11920000 |
| &nbsp;&nbsp;&nbsp;4.376%, 03/06/2026 | 13000000 | 13000000 |
| &nbsp;&nbsp;&nbsp;4.388%, 07/10/2026 | &nbsp;&nbsp;1535000 | &nbsp;&nbsp;&nbsp;1535000 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AGENCY (continued)** | **U.S. GOVERNMENT AGENCY (continued)** |  |
| Federal Home Loan Bank (continued) |  |  |
| &nbsp;&nbsp;&nbsp;4.389%, 08/05/2025 | &nbsp;&nbsp;&nbsp;4970000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4970019 |
| &nbsp;&nbsp;&nbsp;4.411%, 01/30/2026 | &nbsp;&nbsp;19360000 | &nbsp;&nbsp;&nbsp;&nbsp;19360000 |
| &nbsp;&nbsp;&nbsp;4.413%, 09/05/2025 | &nbsp;&nbsp;&nbsp;2355000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2348948 |
| &nbsp;&nbsp;&nbsp;4.446%, (Overnight SOFR - 0.005%), 09/08/2025 (A) | &nbsp;&nbsp;40745000 | &nbsp;&nbsp;&nbsp;&nbsp;40745000 |
| &nbsp;&nbsp;&nbsp;4.450%, 02/09/2026 | &nbsp;&nbsp;&nbsp;4040000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4039655 |
| &nbsp;&nbsp;&nbsp;4.461%, (Overnight SOFR + 0.010%), 02/17/2026 (A) | &nbsp;&nbsp;19110000 | &nbsp;&nbsp;&nbsp;&nbsp;19110000 |
| &nbsp;&nbsp;&nbsp;4.461%, (Overnight SOFR + 0.010%), 02/25/2026 (A) | &nbsp;&nbsp;13800000 | &nbsp;&nbsp;&nbsp;&nbsp;13800000 |
| &nbsp;&nbsp;&nbsp;4.476%, 02/09/2026 | &nbsp;&nbsp;35000000 | &nbsp;&nbsp;&nbsp;&nbsp;35000000 |
| &nbsp;&nbsp;&nbsp;4.590%, (Overnight SOFR + 0.140%), 07/16/2026 (A) | &nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000161 |
| &nbsp;&nbsp;&nbsp;4.601%, (Overnight SOFR + 0.170%), 08/26/2026 (A) | &nbsp;&nbsp;&nbsp;&nbsp;565000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565139 |
| &nbsp;&nbsp;&nbsp;4.644%, (Overnight SOFR + 0.190%), 10/29/2026 (A) | &nbsp;&nbsp;20000000 | &nbsp;&nbsp;&nbsp;&nbsp;20000000 |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.032%, 12/01/2025 | &nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1478892 |
| &nbsp;&nbsp;&nbsp;4.216%, 10/22/2025 | &nbsp;&nbsp;&nbsp;1676000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1657724 |
| &nbsp;&nbsp;&nbsp;4.216%, 10/27/2025 | &nbsp;&nbsp;&nbsp;2877000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2844264 |
| &nbsp;&nbsp;&nbsp;4.227%, 12/23/2025 | &nbsp;&nbsp;&nbsp;2138000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2102547 |
| &nbsp;&nbsp;&nbsp;4.297%, 07/28/2025 | &nbsp;&nbsp;32000000 | &nbsp;&nbsp;&nbsp;&nbsp;31898600 |
| &nbsp;&nbsp;&nbsp;4.304%, 10/15/2025 | &nbsp;&nbsp;&nbsp;1128000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1116000 |
| &nbsp;&nbsp;&nbsp;4.333%, 09/30/2025 | &nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1485803 |
| &nbsp;&nbsp;&nbsp;4.355%, 08/28/2025 | &nbsp;&nbsp;&nbsp;1750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1749121 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;4.212%, 10/20/2025 | &nbsp;&nbsp;&nbsp;1923000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1902017 |
| &nbsp;&nbsp;&nbsp;4.225%, 07/16/2025 | &nbsp;&nbsp;&nbsp;3412000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3406086 |
| &nbsp;&nbsp;&nbsp;4.248%, 10/29/2025 | &nbsp;&nbsp;&nbsp;6880000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6798577 |
| &nbsp;&nbsp;&nbsp;4.304%, 08/25/2025 | &nbsp;&nbsp;&nbsp;8165000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8116959 |
| &nbsp;&nbsp;&nbsp;4.322%, 10/28/2025 | &nbsp;&nbsp;&nbsp;1694000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1673614 |
| &nbsp;&nbsp;&nbsp;4.346%, 08/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;746671 |
| &nbsp;&nbsp;&nbsp;4.357%, 08/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;745707 |
| Tennessee Valley Authority<br> 4.249%, 07/02/2025 | &nbsp;&nbsp;11713000 | &nbsp;&nbsp;&nbsp;&nbsp;11711637 |
| TOTAL U.S. GOVERNMENT AGENCY (Cost $1,307,074,124) |  | $1307074124 |
| **REPURCHASE AGREEMENT – 17.4%** | **REPURCHASE AGREEMENT – 17.4%** |  |
| Barclays Tri-Party Repurchase Agreement dated 6-30-25 at 4.390% to be repurchased at $120,014,633 on 7-1-25, collateralized by $36,662,100 U.S. Treasury Bonds, 2.000% - 4.625% due 11-15-44 to 2-15-50 (valued at $35,544,803) and $93,700,000 U.S. Treasury Notes, 1.125% - 3.875% due 2-15-31 to 8-15-33 (valued at $86,870,146) | 120000000 | &nbsp;&nbsp;&nbsp;&nbsp;120000000 |
| Goldman Sachs Tri-Party Repurchase Agreement dated 6-30-25 at 4.370% to be repurchased at $113,013,717 on 7-1-25, collateralized by $99,812,800 U.S. Treasury Bonds, 3.000% due 8-15-52 (valued at $72,417,964) and $54,932,541 U.S. Treasury Inflation Indexed Bonds, 0.750% - 2.375% due 1-15-27 to 2-15-42 (valued at $42,856,096) | 113000000 | &nbsp;&nbsp;&nbsp;&nbsp;113000000 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 52 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Money Market Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **REPURCHASE AGREEMENT (continued)** | **REPURCHASE AGREEMENT (continued)** |  |
| Repurchase Agreement with State Street Corp. dated 6-30-25 at 1.630% to be repurchased at $838,038 on 7-1-25, collateralized by $850,900 U.S. Treasury Notes, 2.625% - 4.375% due 5-31-27 to 5-15-34 (valued at $854,876) | &nbsp;&nbsp;&nbsp;&nbsp;838000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;838000 |
| Repurchase Agreement with State Street Corp. dated 6-30-25 at 4.380% to be repurchased at $186,022,630 on 7-1-25, collateralized by $188,953,300 U.S. Treasury Notes, 3.750% - 4.125% due 6-30-27 to 10-31-27 (valued at $189,720,198) | 186000000 | &nbsp;&nbsp;&nbsp;&nbsp;186000000 |
| TOTAL REPURCHASE AGREEMENT (Cost $419,838,000) | TOTAL REPURCHASE AGREEMENT (Cost $419,838,000) | $&nbsp;&nbsp;&nbsp;&nbsp;419838000 |
| **Total Investments (Money Market Trust)<br> (Cost $2,435,407,115) – 101.0%** | **Total Investments (Money Market Trust)<br> (Cost $2,435,407,115) – 101.0%** | $**2435407115** |
| **Other assets and liabilities, net – (1.0%)** |  | &nbsp;&nbsp;&nbsp;**(25085885)** |
| **TOTAL NET ASSETS – 100.0%** |  | $**2410321230** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| SOFR | Secured Overnight Financing Rate |
| USBMMY | U.S. Treasury Bill Money Market Yield |
| (A) | Variable rate obligation. |

---

#### Opportunistic Fixed Income Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS - 39.2%** |  |  |
| **U.S. Government - 7.1%** |  |  |
| U.S. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;4.250%, 02/15/2054 (A) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;975000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;889383 |
| &nbsp;&nbsp;&nbsp;4.625%, 02/15/2055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;870000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;846891 |
| &nbsp;&nbsp;&nbsp;4.750%, 11/15/2053 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1540000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1526044 |
| &nbsp;&nbsp;&nbsp;4.750%, 05/15/2055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135533 |
| U.S. Treasury Inflation<br> Protected Securities |  |  |
| &nbsp;&nbsp;&nbsp;0.125%, 02/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;933339 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;497902 |
| &nbsp;&nbsp;&nbsp;0.750%, 02/15/2042 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2981055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2314223 |
| &nbsp;&nbsp;&nbsp;2.125%, 02/15/2054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1954431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1787333 |
| &nbsp;&nbsp;&nbsp;2.375%, 02/15/2055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1865314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1802329 |
| U.S. Treasury Notes<br> 4.250%, 05/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214635 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10014273 |
| **U.S. Government Agency - 32.1%** |  |  |
| Federal Home Loan Mortgage Corp.<br> 5.500%, 11/01/2054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;224999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;224998 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, TBA (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415406 |
| &nbsp;&nbsp;&nbsp;2.500%, TBA (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227981 |
| &nbsp;&nbsp;&nbsp;4.500%, TBA (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;871000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;832826 |
| &nbsp;&nbsp;&nbsp;5.000%, TBA (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13854000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13575834 |
| &nbsp;&nbsp;&nbsp;5.500%, TBA (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18196000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18188902 |
| &nbsp;&nbsp;&nbsp;6.000%, TBA (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8102000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8232710 |
| &nbsp;&nbsp;&nbsp;6.000%, 07/01/2038 to 09/01/2038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275747 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;284329 |
| &nbsp;&nbsp;&nbsp;6.500%, TBA (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;283852 |
| Government National<br> Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, 11/20/2052 to 05/20/2053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1124252 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1049268 |
| &nbsp;&nbsp;&nbsp;4.500%, 11/20/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565548 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;546189 |
| &nbsp;&nbsp;&nbsp;5.500%, TBA (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180179 |
| &nbsp;&nbsp;&nbsp;6.000%, TBA (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;608401 |

---

#### Opportunistic Fixed Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** |  |  |
| **U.S. Government Agency (continued)** |  |  |
| Government National<br> Mortgage Association (continued) |  |  |
| &nbsp;&nbsp;&nbsp;6.000%, 04/20/2055 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;746057 | $&nbsp;&nbsp;&nbsp;&nbsp;757098 |
|  |  | 45407973 |
| TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $55,097,448) | TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $55,097,448) | $55422246 |
| **FOREIGN GOVERNMENT OBLIGATIONS - 41.8%** | **FOREIGN GOVERNMENT OBLIGATIONS - 41.8%** |  |
| **Argentina - 0.2%** |  |  |
| Republic of Argentina |  |  |
| &nbsp;&nbsp;&nbsp;4.125%, (4.125% to 7-9-27, then 4.750% to 7-9-28, then 5.000% thereafter), 07/09/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220000 | &nbsp;&nbsp;&nbsp;&nbsp;147998 |
| &nbsp;&nbsp;&nbsp;29.500%, 05/30/2030 | &nbsp;&nbsp;&nbsp;&nbsp;99594000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90333 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;238331 |
| **Australia - 4.4%** |  |  |
| Commonwealth of Australia<br> 1.750%, 06/21/2051 | &nbsp;&nbsp;&nbsp;&nbsp;5105000 | &nbsp;&nbsp;&nbsp;1822386 |
| Commonwealth of Australia,<br> Inflation-Linked Bond |  |  |
| &nbsp;&nbsp;&nbsp;0.297%, 11/21/2032 | &nbsp;&nbsp;&nbsp;&nbsp;1400000 | &nbsp;&nbsp;&nbsp;&nbsp;976723 |
| &nbsp;&nbsp;&nbsp;1.244%, 02/21/2050 | &nbsp;&nbsp;&nbsp;&nbsp;3630000 | &nbsp;&nbsp;&nbsp;2069665 |
| &nbsp;&nbsp;&nbsp;3.682%, 09/20/2030 | &nbsp;&nbsp;&nbsp;&nbsp;1350000 | &nbsp;&nbsp;&nbsp;1376557 |
|  |  | &nbsp;&nbsp;&nbsp;6245331 |
| **Brazil - 6.9%** |  |  |
| Federative Republic of Brazil |  |  |
| &nbsp;&nbsp;&nbsp;6.000%, 05/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp;2341000 | &nbsp;&nbsp;&nbsp;1804315 |
| &nbsp;&nbsp;&nbsp;10.000%, 01/01/2027 | &nbsp;&nbsp;&nbsp;&nbsp;1230000 | &nbsp;&nbsp;&nbsp;&nbsp;214789 |
| &nbsp;&nbsp;&nbsp;10.000%, 01/01/2029 | &nbsp;&nbsp;&nbsp;&nbsp;36937000 | &nbsp;&nbsp;&nbsp;6237894 |
| &nbsp;&nbsp;&nbsp;10.000%, 01/01/2031 | &nbsp;&nbsp;&nbsp;&nbsp;4168000 | &nbsp;&nbsp;&nbsp;&nbsp;673042 |
| &nbsp;&nbsp;&nbsp;10.000%, 01/01/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;482000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75411 |
| &nbsp;&nbsp;&nbsp;10.000%, 01/01/2035 | &nbsp;&nbsp;&nbsp;&nbsp;3910000 | &nbsp;&nbsp;&nbsp;&nbsp;593386 |
| &nbsp;&nbsp;&nbsp;13.018%, 01/01/2028 (C) | &nbsp;&nbsp;&nbsp;&nbsp;1146000 | &nbsp;&nbsp;&nbsp;&nbsp;154544 |
|  |  | &nbsp;&nbsp;&nbsp;9753381 |
| **Bulgaria - 0.1%** |  |  |
| Republic of Bulgaria |  |  |
| &nbsp;&nbsp;&nbsp;1.375%, 09/23/2050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168000 | &nbsp;&nbsp;&nbsp;&nbsp;117631 |
| &nbsp;&nbsp;&nbsp;4.250%, 09/05/2044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99102 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;216733 |
| **Chile - 0.1%** |  |  |
| Republic of Chile |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, 03/01/2035 | &nbsp;&nbsp;117801210 | &nbsp;&nbsp;&nbsp;&nbsp;120365 |
| &nbsp;&nbsp;&nbsp;4.700%, 09/01/2030 (D) | &nbsp;&nbsp;&nbsp;&nbsp;55000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58074 |
| &nbsp;&nbsp;&nbsp;6.000%, 01/01/2043 | &nbsp;&nbsp;&nbsp;&nbsp;15000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17246 |
| &nbsp;&nbsp;&nbsp;7.000%, 05/01/2034 (D) | &nbsp;&nbsp;&nbsp;&nbsp;10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11887 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;207572 |
| **Colombia - 3.6%** |  |  |
| Republic of Colombia |  |  |
| &nbsp;&nbsp;&nbsp;3.750%, 02/25/2037 | 6876041634 | &nbsp;&nbsp;&nbsp;1314077 |
| &nbsp;&nbsp;&nbsp;4.125%, 02/22/2042 | $&nbsp;&nbsp;&nbsp;&nbsp;1485000 | &nbsp;&nbsp;&nbsp;&nbsp;937439 |
| &nbsp;&nbsp;&nbsp;4.750%, 04/04/2035 | 6364308852 | &nbsp;&nbsp;&nbsp;1369933 |
| &nbsp;&nbsp;&nbsp;5.000%, 03/20/2041 | 2280249906 | &nbsp;&nbsp;&nbsp;&nbsp;474532 |
| &nbsp;&nbsp;&nbsp;6.250%, 07/09/2036 | &nbsp;&nbsp;499700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78927 |
| &nbsp;&nbsp;&nbsp;7.000%, 03/26/2031 | &nbsp;&nbsp;104300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20611 |
| &nbsp;&nbsp;&nbsp;7.000%, 06/30/2032 | &nbsp;&nbsp;495200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92900 |
| &nbsp;&nbsp;&nbsp;7.250%, 10/18/2034 | &nbsp;&nbsp;492700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87913 |
| &nbsp;&nbsp;&nbsp;7.750%, 09/18/2030 | &nbsp;&nbsp;528900000 | &nbsp;&nbsp;&nbsp;&nbsp;111809 |
| &nbsp;&nbsp;&nbsp;9.250%, 05/28/2042 | 1189800000 | &nbsp;&nbsp;&nbsp;&nbsp;223053 |
| &nbsp;&nbsp;&nbsp;11.500%, 07/25/2046 | 1629100000 | &nbsp;&nbsp;&nbsp;&nbsp;360831 |
| &nbsp;&nbsp;&nbsp;13.250%, 02/09/2033 | &nbsp;&nbsp;188300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48242 |
|  |  | &nbsp;&nbsp;&nbsp;5120267 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 53 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **FOREIGN GOVERNMENT OBLIGATIONS (continued)** | **FOREIGN GOVERNMENT OBLIGATIONS (continued)** |  |
| **Czech Republic - 0.6%** |  |  |
| Czech Republic |  |  |
| &nbsp;&nbsp;&nbsp;0.050%, 11/29/2029 | &nbsp;&nbsp;&nbsp;&nbsp;1020000 | $&nbsp;&nbsp;&nbsp;&nbsp;41454 |
| &nbsp;&nbsp;&nbsp;1.200%, 03/13/2031 | &nbsp;&nbsp;&nbsp;&nbsp;3810000 | &nbsp;&nbsp;&nbsp;&nbsp;157326 |
| &nbsp;&nbsp;&nbsp;1.750%, 06/23/2032 | &nbsp;&nbsp;&nbsp;&nbsp;1470000 | &nbsp;&nbsp;&nbsp;&nbsp;60888 |
| &nbsp;&nbsp;&nbsp;1.750%, 06/23/2032 | &nbsp;&nbsp;&nbsp;&nbsp;1870000 | &nbsp;&nbsp;&nbsp;&nbsp;77456 |
| &nbsp;&nbsp;&nbsp;1.950%, 07/30/2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460000 | &nbsp;&nbsp;&nbsp;&nbsp;16907 |
| &nbsp;&nbsp;&nbsp;2.000%, 10/13/2033 | &nbsp;&nbsp;&nbsp;&nbsp;1550000 | &nbsp;&nbsp;&nbsp;&nbsp;63170 |
| &nbsp;&nbsp;&nbsp;3.000%, 03/03/2033 | &nbsp;&nbsp;&nbsp;&nbsp;1600000 | &nbsp;&nbsp;&nbsp;&nbsp;70978 |
| &nbsp;&nbsp;&nbsp;3.500%, 05/30/2035 | &nbsp;&nbsp;&nbsp;&nbsp;5120000 | &nbsp;&nbsp;&nbsp;&nbsp;230008 |
| &nbsp;&nbsp;&nbsp;4.500%, 11/11/2032 | &nbsp;&nbsp;&nbsp;&nbsp;1970000 | &nbsp;&nbsp;&nbsp;&nbsp;96644 |
| &nbsp;&nbsp;&nbsp;4.900%, 04/14/2034 | &nbsp;&nbsp;&nbsp;&nbsp;1290000 | &nbsp;&nbsp;&nbsp;&nbsp;64830 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;879661 |
| **Ghana - 0.1%** |  |  |
| Republic of Ghana |  |  |
| &nbsp;&nbsp;&nbsp;3.107%, 07/03/2026 (C)(D) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5815 |
| &nbsp;&nbsp;&nbsp;5.000%, (5.000% to 7-3-28, then 6.000% thereafter), 07/03/2029 (D) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60500 | &nbsp;&nbsp;&nbsp;&nbsp;56639 |
| &nbsp;&nbsp;&nbsp;5.000%, (5.000% to 7-3-28, then 6.000% thereafter), 07/03/2035 (D) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87000 | &nbsp;&nbsp;&nbsp;&nbsp;67577 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;130031 |
| **Hungary - 0.7%** |  |  |
| Republic of Hungary |  |  |
| &nbsp;&nbsp;&nbsp;1.625%, 04/28/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520000 | &nbsp;&nbsp;&nbsp;&nbsp;533396 |
| &nbsp;&nbsp;&nbsp;2.250%, 06/22/2034 | &nbsp;&nbsp;&nbsp;&nbsp;34120000 | &nbsp;&nbsp;&nbsp;&nbsp;69807 |
| &nbsp;&nbsp;&nbsp;3.000%, 10/27/2038 | &nbsp;&nbsp;&nbsp;&nbsp;14360000 | &nbsp;&nbsp;&nbsp;&nbsp;27570 |
| &nbsp;&nbsp;&nbsp;6.750%, 09/23/2055 (D) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;201520 |
| &nbsp;&nbsp;&nbsp;7.000%, 10/24/2035 | &nbsp;&nbsp;&nbsp;&nbsp;41890000 | &nbsp;&nbsp;&nbsp;&nbsp;123177 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;955470 |
| **Iceland - 1.9%** |  |  |
| Republic of Iceland |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 02/17/2042 | &nbsp;&nbsp;&nbsp;&nbsp;24335000 | &nbsp;&nbsp;&nbsp;&nbsp;153975 |
| &nbsp;&nbsp;&nbsp;5.000%, 11/15/2028 | &nbsp;&nbsp;226700000 | 1739758 |
| &nbsp;&nbsp;&nbsp;6.500%, 02/15/2038 | &nbsp;&nbsp;&nbsp;&nbsp;97335000 | &nbsp;&nbsp;&nbsp;&nbsp;768593 |
|  |  | 2662326 |
| **India - 0.2%** |  |  |
| Republic of India |  |  |
| &nbsp;&nbsp;&nbsp;6.790%, 10/07/2034 | &nbsp;&nbsp;&nbsp;&nbsp;8130000 | &nbsp;&nbsp;&nbsp;&nbsp;97432 |
| &nbsp;&nbsp;&nbsp;6.790%, 12/02/2034 | &nbsp;&nbsp;&nbsp;&nbsp;1090000 | &nbsp;&nbsp;&nbsp;&nbsp;13011 |
| &nbsp;&nbsp;&nbsp;7.300%, 06/19/2053 | &nbsp;&nbsp;&nbsp;&nbsp;10520000 | &nbsp;&nbsp;&nbsp;&nbsp;126349 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;236792 |
| **Indonesia - 1.0%** |  |  |
| Republic of Indonesia |  |  |
| &nbsp;&nbsp;&nbsp;6.375%, 08/15/2028 | 1048000000 | &nbsp;&nbsp;&nbsp;&nbsp;64787 |
| &nbsp;&nbsp;&nbsp;6.500%, 07/15/2030 | &nbsp;&nbsp;310000000 | &nbsp;&nbsp;&nbsp;&nbsp;19224 |
| &nbsp;&nbsp;&nbsp;6.500%, 02/15/2031 | &nbsp;&nbsp;742000000 | &nbsp;&nbsp;&nbsp;&nbsp;45666 |
| &nbsp;&nbsp;&nbsp;6.625%, 05/15/2033 | &nbsp;&nbsp;926000000 | &nbsp;&nbsp;&nbsp;&nbsp;55778 |
| &nbsp;&nbsp;&nbsp;6.625%, 02/15/2034 | 2401000000 | &nbsp;&nbsp;&nbsp;&nbsp;147410 |
| &nbsp;&nbsp;&nbsp;6.750%, 07/15/2035 | 1741000000 | &nbsp;&nbsp;&nbsp;&nbsp;107978 |
| &nbsp;&nbsp;&nbsp;6.875%, 04/15/2029 | 1179000000 | &nbsp;&nbsp;&nbsp;&nbsp;74082 |
| &nbsp;&nbsp;&nbsp;7.000%, 05/15/2027 | 1364000000 | &nbsp;&nbsp;&nbsp;&nbsp;84962 |
| &nbsp;&nbsp;&nbsp;7.000%, 02/15/2033 | 3333000000 | &nbsp;&nbsp;&nbsp;&nbsp;209704 |
| &nbsp;&nbsp;&nbsp;7.125%, 06/15/2038 | 4320000000 | &nbsp;&nbsp;&nbsp;&nbsp;271081 |
| &nbsp;&nbsp;&nbsp;7.125%, 06/15/2042 | &nbsp;&nbsp;271000000 | &nbsp;&nbsp;&nbsp;&nbsp;16871 |
| &nbsp;&nbsp;&nbsp;7.125%, 06/15/2043 | &nbsp;&nbsp;325000000 | &nbsp;&nbsp;&nbsp;&nbsp;20231 |
| &nbsp;&nbsp;&nbsp;7.500%, 08/15/2032 | 1925000000 | &nbsp;&nbsp;&nbsp;&nbsp;124270 |
| &nbsp;&nbsp;&nbsp;7.500%, 06/15/2035 | &nbsp;&nbsp;250000000 | &nbsp;&nbsp;&nbsp;&nbsp;16257 |
| &nbsp;&nbsp;&nbsp;7.500%, 05/15/2038 | &nbsp;&nbsp;186000000 | &nbsp;&nbsp;&nbsp;&nbsp;12004 |
| &nbsp;&nbsp;&nbsp;8.250%, 05/15/2036 | 1865000000 | &nbsp;&nbsp;&nbsp;&nbsp;127578 |
| &nbsp;&nbsp;&nbsp;8.375%, 03/15/2034 | &nbsp;&nbsp;104000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7109 |
|  |  | 1404992 |
| **Japan - 0.4%** |  |  |
| Government of Japan<br> 2.400%, 03/20/2055 | &nbsp;&nbsp;&nbsp;&nbsp;95900000 | &nbsp;&nbsp;&nbsp;&nbsp;611841 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **FOREIGN GOVERNMENT OBLIGATIONS (continued)** | **FOREIGN GOVERNMENT OBLIGATIONS (continued)** |  |
| **Kazakhstan - 0.2%** |  |  |
| Republic of Kazakhstan<br> 5.500%, 07/01/2037 (D) | $&nbsp;&nbsp;&nbsp;&nbsp;270000 | $&nbsp;&nbsp;&nbsp;&nbsp;271627 |
| **Malaysia - 0.8%** |  |  |
| Government of Malaysia |  |  |
| &nbsp;&nbsp;&nbsp;2.632%, 04/15/2031 | &nbsp;&nbsp;1118000 | &nbsp;&nbsp;&nbsp;&nbsp;255008 |
| &nbsp;&nbsp;&nbsp;3.582%, 07/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;314000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75355 |
| &nbsp;&nbsp;&nbsp;3.757%, 05/22/2040 | &nbsp;&nbsp;&nbsp;&nbsp;270000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64295 |
| &nbsp;&nbsp;&nbsp;3.828%, 07/05/2034 | &nbsp;&nbsp;&nbsp;&nbsp;560000 | &nbsp;&nbsp;&nbsp;&nbsp;135999 |
| &nbsp;&nbsp;&nbsp;3.885%, 08/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;820000 | &nbsp;&nbsp;&nbsp;&nbsp;199175 |
| &nbsp;&nbsp;&nbsp;4.254%, 05/31/2035 | &nbsp;&nbsp;&nbsp;&nbsp;714000 | &nbsp;&nbsp;&nbsp;&nbsp;179625 |
| &nbsp;&nbsp;&nbsp;4.457%, 03/31/2053 | &nbsp;&nbsp;&nbsp;&nbsp;108000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27472 |
| &nbsp;&nbsp;&nbsp;4.642%, 11/07/2033 | &nbsp;&nbsp;&nbsp;&nbsp;269000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69071 |
| &nbsp;&nbsp;&nbsp;4.696%, 10/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp;139000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36800 |
| &nbsp;&nbsp;&nbsp;4.893%, 06/08/2038 | &nbsp;&nbsp;&nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;119542 |
|  |  | &nbsp;&nbsp;&nbsp;1162342 |
| **Mexico - 1.0%** |  |  |
| Government of Mexico |  |  |
| &nbsp;&nbsp;&nbsp;5.625%, 03/19/2114 | &nbsp;&nbsp;&nbsp;&nbsp;210000 | &nbsp;&nbsp;&nbsp;&nbsp;198276 |
| &nbsp;&nbsp;&nbsp;7.500%, 05/26/2033 | &nbsp;&nbsp;2532300 | &nbsp;&nbsp;&nbsp;&nbsp;123174 |
| &nbsp;&nbsp;&nbsp;7.750%, 11/23/2034 | &nbsp;&nbsp;&nbsp;&nbsp;904500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43942 |
| &nbsp;&nbsp;&nbsp;7.750%, 11/13/2042 | &nbsp;&nbsp;3827400 | &nbsp;&nbsp;&nbsp;&nbsp;168955 |
| &nbsp;&nbsp;&nbsp;8.000%, 05/24/2035 | &nbsp;&nbsp;1309200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63954 |
| &nbsp;&nbsp;&nbsp;8.000%, 11/07/2047 | &nbsp;&nbsp;1039900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45954 |
| &nbsp;&nbsp;&nbsp;8.000%, 07/31/2053 | &nbsp;&nbsp;9234300 | &nbsp;&nbsp;&nbsp;&nbsp;404273 |
| &nbsp;&nbsp;&nbsp;8.500%, 03/01/2029 | &nbsp;&nbsp;3315800 | &nbsp;&nbsp;&nbsp;&nbsp;176206 |
| &nbsp;&nbsp;&nbsp;8.500%, 05/31/2029 | &nbsp;&nbsp;&nbsp;&nbsp;568900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30215 |
| &nbsp;&nbsp;&nbsp;8.500%, 11/18/2038 | &nbsp;&nbsp;2305500 | &nbsp;&nbsp;&nbsp;&nbsp;112872 |
| &nbsp;&nbsp;&nbsp;10.000%, 11/20/2036 | &nbsp;&nbsp;&nbsp;&nbsp;217100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12139 |
|  |  | &nbsp;&nbsp;&nbsp;1379960 |
| **New Zealand - 5.5%** |  |  |
| Government of New Zealand |  |  |
| &nbsp;&nbsp;&nbsp;1.750%, 05/15/2041 | &nbsp;&nbsp;1468000 | &nbsp;&nbsp;&nbsp;&nbsp;582234 |
| &nbsp;&nbsp;&nbsp;2.750%, 05/15/2051 | &nbsp;&nbsp;1475000 | &nbsp;&nbsp;&nbsp;&nbsp;591989 |
| Government of New Zealand,<br> Inflation-Linked Bond |  |  |
| &nbsp;&nbsp;&nbsp;3.279%, 09/20/2040 | &nbsp;&nbsp;2860000 | &nbsp;&nbsp;&nbsp;2112674 |
| &nbsp;&nbsp;&nbsp;3.313%, 09/20/2035 | &nbsp;&nbsp;4220000 | &nbsp;&nbsp;&nbsp;3338964 |
| &nbsp;&nbsp;&nbsp;4.038%, 09/20/2030 | &nbsp;&nbsp;1280000 | &nbsp;&nbsp;&nbsp;1100090 |
|  |  | &nbsp;&nbsp;&nbsp;7725951 |
| **Norway - 9.1%** |  |  |
| Kingdom of Norway |  |  |
| &nbsp;&nbsp;&nbsp;1.250%, 09/17/2031 (D) | 42940000 | &nbsp;&nbsp;&nbsp;3683311 |
| &nbsp;&nbsp;&nbsp;1.375%, 08/19/2030 (D) | 37180000 | &nbsp;&nbsp;&nbsp;3300115 |
| &nbsp;&nbsp;&nbsp;1.750%, 09/06/2029 (D) | 18155000 | &nbsp;&nbsp;&nbsp;1673895 |
| &nbsp;&nbsp;&nbsp;3.000%, 08/15/2033 (D) | 15870000 | &nbsp;&nbsp;&nbsp;1488832 |
| &nbsp;&nbsp;&nbsp;3.625%, 04/13/2034 (D) | 27905000 | &nbsp;&nbsp;&nbsp;2732508 |
|  |  | 12878661 |
| **Peru - 0.3%** |  |  |
| Republic of Peru |  |  |
| &nbsp;&nbsp;&nbsp;5.400%, 08/12/2034 | &nbsp;&nbsp;&nbsp;&nbsp;114000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30321 |
| &nbsp;&nbsp;&nbsp;6.150%, 08/12/2032 | &nbsp;&nbsp;&nbsp;&nbsp;78000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22719 |
| &nbsp;&nbsp;&nbsp;6.850%, 08/12/2035 (D) | &nbsp;&nbsp;&nbsp;&nbsp;618000 | &nbsp;&nbsp;&nbsp;&nbsp;179396 |
| &nbsp;&nbsp;&nbsp;6.900%, 08/12/2037 | &nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7161 |
| &nbsp;&nbsp;&nbsp;6.950%, 08/12/2031 | &nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45924 |
| &nbsp;&nbsp;&nbsp;7.600%, 08/12/2039 (D) | &nbsp;&nbsp;&nbsp;&nbsp;409000 | &nbsp;&nbsp;&nbsp;&nbsp;122658 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;408179 |
| **Poland - 0.6%** |  |  |
| Republic of Poland |  |  |
| &nbsp;&nbsp;&nbsp;1.750%, 04/25/2032 | &nbsp;&nbsp;&nbsp;&nbsp;614000 | &nbsp;&nbsp;&nbsp;&nbsp;137398 |
| &nbsp;&nbsp;&nbsp;2.500%, 07/25/2027 | &nbsp;&nbsp;&nbsp;&nbsp;131000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34910 |
| &nbsp;&nbsp;&nbsp;3.750%, 05/25/2027 | &nbsp;&nbsp;&nbsp;&nbsp;224000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61321 |
| &nbsp;&nbsp;&nbsp;4.750%, 07/25/2029 | &nbsp;&nbsp;1010000 | &nbsp;&nbsp;&nbsp;&nbsp;280012 |
| &nbsp;&nbsp;&nbsp;5.000%, 10/25/2034 | &nbsp;&nbsp;&nbsp;&nbsp;795000 | &nbsp;&nbsp;&nbsp;&nbsp;213887 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 54 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Shares or<br> Principal<br> Amount** | **Value** |
| **FOREIGN GOVERNMENT OBLIGATIONS (continued)** | **FOREIGN GOVERNMENT OBLIGATIONS (continued)** | **FOREIGN GOVERNMENT OBLIGATIONS (continued)** |  |
| **Poland (continued)** |  |  |  |
| Republic of Poland (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp;5.750%, 04/25/2029 | PLN | &nbsp;&nbsp;284000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81617 |
| &nbsp;&nbsp;&nbsp;6.000%, 10/25/2033 |  | &nbsp;&nbsp;384000 | &nbsp;&nbsp;&nbsp;&nbsp;111053 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;920198 |
| **Romania - 0.3%** |  |  |  |
| Republic of Romania |  |  |  |
| &nbsp;&nbsp;&nbsp;4.750%, 10/11/2034 | RON | &nbsp;&nbsp;130000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24828 |
| &nbsp;&nbsp;&nbsp;4.850%, 07/25/2029 |  | &nbsp;&nbsp;335000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70928 |
| &nbsp;&nbsp;&nbsp;5.000%, 02/12/2029 |  | &nbsp;&nbsp;&nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20409 |
| &nbsp;&nbsp;&nbsp;6.700%, 02/25/2032 |  | &nbsp;&nbsp;145000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32382 |
| &nbsp;&nbsp;&nbsp;6.750%, 04/25/2035 |  | &nbsp;&nbsp;315000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69514 |
| &nbsp;&nbsp;&nbsp;8.000%, 04/29/2030 |  | &nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35627 |
| &nbsp;&nbsp;&nbsp;8.250%, 09/29/2032 |  | &nbsp;&nbsp;340000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82307 |
| &nbsp;&nbsp;&nbsp;8.750%, 10/30/2028 |  | &nbsp;&nbsp;415000 | &nbsp;&nbsp;&nbsp;&nbsp;100216 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;436211 |
| **Serbia - 0.1%** |  |  |  |
| Republic of Serbia<br> 1.650%, 03/03/2033 | EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96767 |
| **South Africa - 0.9%** |  |  |  |
| Republic of South Africa |  |  |  |
| &nbsp;&nbsp;&nbsp;6.250%, 03/31/2036 | ZAR | 3691000 | &nbsp;&nbsp;&nbsp;&nbsp;155608 |
| &nbsp;&nbsp;&nbsp;7.000%, 02/28/2031 |  | 4785000 | &nbsp;&nbsp;&nbsp;&nbsp;248899 |
| &nbsp;&nbsp;&nbsp;7.000%, 02/28/2031 |  | 1345000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69962 |
| &nbsp;&nbsp;&nbsp;8.000%, 01/31/2030 |  | &nbsp;&nbsp;234000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13001 |
| &nbsp;&nbsp;&nbsp;8.250%, 03/31/2032 |  | 4040000 | &nbsp;&nbsp;&nbsp;&nbsp;217785 |
| &nbsp;&nbsp;&nbsp;8.500%, 01/31/2037 |  | &nbsp;&nbsp;669000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32869 |
| &nbsp;&nbsp;&nbsp;8.750%, 01/31/2044 |  | 2718000 | &nbsp;&nbsp;&nbsp;&nbsp;124997 |
| &nbsp;&nbsp;&nbsp;8.750%, 02/28/2048 |  | 1746000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79262 |
| &nbsp;&nbsp;&nbsp;8.875%, 02/28/2035 |  | 1937000 | &nbsp;&nbsp;&nbsp;&nbsp;102310 |
| &nbsp;&nbsp;&nbsp;9.000%, 01/31/2040 |  | 4272000 | &nbsp;&nbsp;&nbsp;&nbsp;208733 |
| &nbsp;&nbsp;&nbsp;11.625%, 03/31/2053 |  | &nbsp;&nbsp;627000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36995 |
|  |  |  | &nbsp;&nbsp;&nbsp;1290421 |
| **Thailand - 0.6%** |  |  |  |
| Kingdom of Thailand |  |  |  |
| &nbsp;&nbsp;&nbsp;1.585%, 12/17/2035 | THB | 3611000 | &nbsp;&nbsp;&nbsp;&nbsp;110855 |
| &nbsp;&nbsp;&nbsp;1.600%, 06/17/2035 |  | &nbsp;&nbsp;917000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28107 |
| &nbsp;&nbsp;&nbsp;2.000%, 12/17/2031 |  | 4996000 | &nbsp;&nbsp;&nbsp;&nbsp;158359 |
| &nbsp;&nbsp;&nbsp;2.000%, 06/17/2042 |  | &nbsp;&nbsp;315000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9685 |
| &nbsp;&nbsp;&nbsp;2.800%, 06/17/2034 |  | 1260000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42535 |
| &nbsp;&nbsp;&nbsp;2.875%, 12/17/2028 |  | 3746000 | &nbsp;&nbsp;&nbsp;&nbsp;120854 |
| &nbsp;&nbsp;&nbsp;2.875%, 06/17/2046 |  | &nbsp;&nbsp;775000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26466 |
| &nbsp;&nbsp;&nbsp;3.350%, 06/17/2033 |  | 7153000 | &nbsp;&nbsp;&nbsp;&nbsp;248679 |
| &nbsp;&nbsp;&nbsp;3.450%, 06/17/2043 |  | 3416000 | &nbsp;&nbsp;&nbsp;&nbsp;126354 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;871894 |
| **Turkey - 0.2%** |  |  |  |
| Republic of Turkey |  |  |  |
| &nbsp;&nbsp;&nbsp;26.200%, 10/05/2033 | TRY | 6355840 | &nbsp;&nbsp;&nbsp;&nbsp;147332 |
| &nbsp;&nbsp;&nbsp;27.700%, 09/27/2034 |  | 3303000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79284 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;226616 |
| **United Kingdom - 2.0%** |  |  |  |
| United Kingdom of Great Britain |  |  |  |
| &nbsp;&nbsp;&nbsp;0.125%, 03/22/2051 | GBP | 1107051 | &nbsp;&nbsp;&nbsp;&nbsp;910252 |
| &nbsp;&nbsp;&nbsp;0.250%, 03/22/2052 |  | &nbsp;&nbsp;913380 | &nbsp;&nbsp;&nbsp;&nbsp;769498 |
| &nbsp;&nbsp;&nbsp;0.500%, 03/22/2050 |  | &nbsp;&nbsp;631023 | &nbsp;&nbsp;&nbsp;&nbsp;591578 |
| &nbsp;&nbsp;&nbsp;1.250%, 11/22/2054 |  | &nbsp;&nbsp;456565 | &nbsp;&nbsp;&nbsp;&nbsp;501478 |
|  |  |  | &nbsp;&nbsp;&nbsp;2772806 |
| **Uruguay - 0.0%** |  |  |  |
| Republic of Uruguay<br> 9.750%, 07/20/2033 | UYU | 2502000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65870 |
| TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $59,430,650) | TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $59,430,650) | TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $59,430,650) | $59170231 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS - 11.7%** | **CORPORATE BONDS - 11.7%** |  |
| **Bermuda - 0.1%** |  |  |
| Ooredoo International Finance, Ltd.<br> 4.500%, 01/31/2043 | $200000 | $&nbsp;&nbsp;&nbsp;&nbsp;176132 |
| **Canada - 1.1%** |  |  |
| AltaGas, Ltd.<br> 7.200%, (7.200% to 10-15-34, then 5 Year CMT + 3.573%), 10/15/2054 (D) | &nbsp;&nbsp;93000 | &nbsp;&nbsp;&nbsp;&nbsp;93021 |
| Bausch Health Companies, Inc.<br> 4.875%, 06/01/2028 (D) | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;29524 |
| Brookfield Finance, Inc.<br> 6.300%, (6.300% to 1-15-35, then 5 Year CMT + 2.076%), 01/15/2055 | &nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;86125 |
| Emera, Inc.<br> 6.750%, (6.750% to 6-15-26, then 3 month LIBOR + 5.440% to 6-15-46, then 3 month LIBOR + 6.190%), 06/15/2076 | 126000 | &nbsp;&nbsp;&nbsp;&nbsp;126790 |
| Enbridge, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.750%, (5.750% to 7-15-30, then 5 Year CMT + 5.314% to 7-15-50, then 5 Year CMT + 6.064%), 07/15/2080 | 154000 | &nbsp;&nbsp;&nbsp;&nbsp;153569 |
| &nbsp;&nbsp;&nbsp;8.500%, (8.500% to 1-15-34, then 5 Year CMT + 4.431% to 1-15-54, then 5 Year CMT + 5.181%), 01/15/2084 | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;61235 |
| Garda World Security Corp.<br> 6.000%, 06/01/2029 (D) | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;14641 |
| goeasy, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;6.875%, 05/15/2030 (D) | &nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5027 |
| &nbsp;&nbsp;&nbsp;7.375%, 10/01/2030 (D) | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;35763 |
| &nbsp;&nbsp;&nbsp;7.625%, 07/01/2029 (D) | &nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2062 |
| Great Canadian Gaming Corp.<br> 8.750%, 11/15/2029 (D) | &nbsp;&nbsp;37000 | &nbsp;&nbsp;&nbsp;&nbsp;36216 |
| Mercer International, Inc.<br> 5.125%, 02/01/2029 | &nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;65256 |
| Ontario Gaming GTA LP<br> 8.000%, 08/01/2030 (D) | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;70233 |
| Royal Bank of Canada<br> 6.750%, (6.750% to 8-24-30, then 5 Year CMT + 2.815%), 08/24/2085 | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;200148 |
| South Bow Canadian Infrastructure Holdings, Ltd.<br> 7.625%, (7.625% to 3-1-30, then 5 Year CMT + 3.949%), 03/01/2055 (D) | &nbsp;&nbsp;38000 | &nbsp;&nbsp;&nbsp;&nbsp;39450 |
| TELUS Corp.<br> 7.000%, (7.000% to 10-15-35, then 5 Year CMT + 2.709%), 10/15/2055 | &nbsp;&nbsp;97000 | &nbsp;&nbsp;&nbsp;&nbsp;97649 |
| TransCanada PipeLines, Ltd.<br> 7.000%, (7.000% to 6-1-30, then 5 Year CMT + 2.614%), 06/01/2065 | 228000 | &nbsp;&nbsp;&nbsp;&nbsp;227796 |
| Transcanada Trust |  |  |
| &nbsp;&nbsp;&nbsp;5.600%, (5.600% to 3-7-32, then 5 Year CMT + 3.986% to 3-7-52, then 5 Year CMT + 4.736%), 03/07/2082 | 144000 | &nbsp;&nbsp;&nbsp;&nbsp;139876 |
| &nbsp;&nbsp;&nbsp;5.875%, (5.875% to 8-15-26, then 3 month LIBOR + 4.640% to 8-15-46, then 3 month LIBOR + 5.390%), 08/15/2076 | &nbsp;&nbsp;41000 | &nbsp;&nbsp;&nbsp;&nbsp;41065 |
|  |  | 1525446 |
| **Cayman Islands - 0.0%** |  |  |
| Azorra Finance, Ltd.<br> 7.250%, 01/15/2031 (D) | &nbsp;&nbsp;22000 | &nbsp;&nbsp;&nbsp;&nbsp;22460 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 55 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Cayman Islands (continued)** |  |  |
| Diamond Foreign Asset Company<br> 8.500%, 10/01/2030 (D) | $&nbsp;&nbsp;&nbsp;7000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7289 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;29749 |
| **Chile - 0.1%** |  |  |
| AES Andes SA<br> 6.300%, 03/15/2029 | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;205521 |
| **China - 0.1%** |  |  |
| CIFI Holdings Group Company, Ltd.<br> 4.375%, 04/12/2027 (E) | 260000 | &nbsp;&nbsp;&nbsp;&nbsp;23400 |
| Country Garden Holdings Company, Ltd.<br> 3.875%, 10/22/2030 (E) | 290000 | &nbsp;&nbsp;&nbsp;&nbsp;21190 |
| Yuzhou Group Holdings Company, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;6.350%, 01/13/2027 (E) | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;14212 |
| &nbsp;&nbsp;&nbsp;7.375%, 01/13/2026 (E) | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;14298 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;73100 |
| **Estonia - 0.2%** |  |  |
| Luminor Holding AS<br> 7.375%, (7.375% to 8-12-31, then 5 Year EURIBOR ICE Swap Rate + 5.264%), 02/12/2031 (F) | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;241988 |
| **France - 0.7%** |  |  |
| Bertrand Franchise Finance SAS<br> 6.500%, 07/18/2030 | 110000 | &nbsp;&nbsp;&nbsp;&nbsp;131251 |
| BNP Paribas SA<br> 7.450%, (7.450% to 6-27-35, then 5 Year CMT + 3.134%), 06/27/2035 (D)(F) | $200000 | &nbsp;&nbsp;&nbsp;&nbsp;201200 |
| Societe Generale SA<br> 5.375%, (5.375% to 11-18-30, then 5 Year CMT + 4.514%), 11/18/2030 (F) | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;182956 |
| Valeo SE<br> 1.000%, 08/03/2028 | 500000 | &nbsp;&nbsp;&nbsp;&nbsp;543250 |
|  |  | 1058657 |
| **Germany - 0.2%** |  |  |
| Deutsche Bank AG<br> 4.500%, (4.500% to 4-30-27, then 5 Year EURIBOR ICE Swap Rate + 4.552%), 11/30/2026 (F) | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;229408 |
| **Greece - 0.3%** |  |  |
| Eurobank SA<br> 4.000%, (4.000% to 2-7-35, then 1 Year EURIBOR ICE Swap Rate + 1.700%), 02/07/2036 | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;115482 |
| Piraeus Financial Holdings SA<br> 8.750%, (8.750% to 12-16-26, then 5 Year Euro Swap Rate + 9.195%), 06/16/2026 (F) | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;244384 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;359866 |
| **Hungary - 0.1%** |  |  |
| OTP Bank NYRT<br> 4.250%, (4.250% to 10-16-29, then 3 month EURIBOR + 1.950%), 10/16/2030 | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;120042 |
| **Ireland - 0.1%** |  |  |
| Adient Global Holdings, Ltd.<br> 7.500%, 02/15/2033 (D) | $&nbsp;&nbsp;11000 | &nbsp;&nbsp;&nbsp;&nbsp;11249 |
| Cimpress PLC<br> 7.375%, 09/15/2032 (D) | 150000 | &nbsp;&nbsp;&nbsp;&nbsp;143175 |
| TrueNoord Capital DAC<br> 8.750%, 03/01/2030 (D) | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;31151 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;185575 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Italy - 0.2%** |  |  |
| Intesa Sanpaolo SpA<br> 7.800%, 11/28/2053 (D) | $&nbsp;&nbsp;&nbsp;&nbsp;200000 | $233921 |
| **Japan - 0.1%** |  |  |
| Nissan Motor Company, Ltd.<br> 4.810%, 09/17/2030 (D) | &nbsp;&nbsp;&nbsp;&nbsp;200000 | 183484 |
| **Luxembourg - 0.5%** |  |  |
| FS Luxembourg Sarl<br> 8.625%, 06/25/2033 (D) | &nbsp;&nbsp;&nbsp;&nbsp;200000 | 197250 |
| Raizen Fuels Finance SA |  |  |
| &nbsp;&nbsp;&nbsp;6.250%, 07/08/2032 (D) | &nbsp;&nbsp;&nbsp;&nbsp;270000 | 267975 |
| &nbsp;&nbsp;&nbsp;6.950%, 03/05/2054 (D) | &nbsp;&nbsp;&nbsp;&nbsp;200000 | 185546 |
|  |  | 650771 |
| **Malta - 0.0%** |  |  |
| VistaJet Malta Finance PLC |  |  |
| &nbsp;&nbsp;&nbsp;6.375%, 02/01/2030 (D)(G) | &nbsp;&nbsp;&nbsp;&nbsp;32000 | &nbsp;&nbsp;&nbsp;29999 |
| &nbsp;&nbsp;&nbsp;9.500%, 06/01/2028 (D) | &nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;20556 |
|  |  | &nbsp;&nbsp;&nbsp;50555 |
| **Mexico - 0.4%** |  |  |
| Orbia Advance Corp. SAB de CV |  |  |
| &nbsp;&nbsp;&nbsp;6.750%, 09/19/2042 | &nbsp;&nbsp;&nbsp;&nbsp;200000 | 186750 |
| &nbsp;&nbsp;&nbsp;7.500%, 05/13/2035 (D) | &nbsp;&nbsp;&nbsp;&nbsp;200000 | 207104 |
| Sitios Latinoamerica SAB de CV<br> 5.375%, 04/04/2032 | &nbsp;&nbsp;&nbsp;&nbsp;200000 | 197160 |
|  |  | 591014 |
| **Netherlands - 0.1%** |  |  |
| House of HR Group BV<br> 9.000%, 11/03/2029 | &nbsp;&nbsp;&nbsp;&nbsp;100000 | 116366 |
| **Saudi Arabia - 0.2%** |  |  |
| Saudi Arabian Oil Company |  |  |
| &nbsp;&nbsp;&nbsp;3.250%, 11/24/2050 | $&nbsp;&nbsp;&nbsp;&nbsp;200000 | 126715 |
| &nbsp;&nbsp;&nbsp;6.375%, 06/02/2055 (D) | &nbsp;&nbsp;&nbsp;&nbsp;200000 | 199925 |
|  |  | 326640 |
| **Singapore - 0.1%** |  |  |
| GLP Pte, Ltd.<br> 4.500%, (4.500% to 5-17-26, then 5 Year CMT + 3.735% to 5-17-31, then 5 Year CMT + 3.985% to 5-17-46, then 5 Year CMT + 4.735%), 05/17/2026 (F) | &nbsp;&nbsp;&nbsp;&nbsp;200000 | 104700 |
| **Spain - 0.2%** |  |  |
| CaixaBank SA<br> 4.885%, (4.885% to 7-3-30, then Overnight SOFR + 1.360%), 07/03/2031 (D) | &nbsp;&nbsp;&nbsp;&nbsp;200000 | 200787 |
| Unicaja Banco SA<br> 0.250%, 09/25/2029 | &nbsp;&nbsp;&nbsp;&nbsp;100000 | 106388 |
|  |  | 307175 |
| **Supranational - 0.9%** |  |  |
| Asian Development Bank<br> 5.676%, 07/30/2030 (C) | &nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;41743 |
| Asian Infrastructure Investment Bank |  |  |
| &nbsp;&nbsp;&nbsp;6.000%, 12/08/2031 | 12600000 | 141537 |
| &nbsp;&nbsp;&nbsp;6.650%, 06/30/2033 | 14100000 | 164052 |
| &nbsp;&nbsp;&nbsp;6.900%, 10/23/2034 (D) | &nbsp;&nbsp;7300000 | &nbsp;&nbsp;&nbsp;86185 |
| &nbsp;&nbsp;&nbsp;6.900%, 10/23/2034 | &nbsp;&nbsp;6600000 | &nbsp;&nbsp;&nbsp;77804 |
| &nbsp;&nbsp;&nbsp;6.960%, 01/14/2035 | &nbsp;&nbsp;6400000 | &nbsp;&nbsp;&nbsp;75487 |
| &nbsp;&nbsp;&nbsp;7.000%, 03/01/2029 | &nbsp;&nbsp;9100000 | 107480 |
| European Bank for Reconstruction &<br> Development |  |  |
| &nbsp;&nbsp;&nbsp;6.750%, 03/14/2031 | &nbsp;&nbsp;6000000 | &nbsp;&nbsp;&nbsp;70228 |
| &nbsp;&nbsp;&nbsp;6.875%, 07/30/2031 | &nbsp;&nbsp;4600000 | &nbsp;&nbsp;&nbsp;54319 |
| &nbsp;&nbsp;&nbsp;10.839%, 10/04/2036 (C) | &nbsp;&nbsp;7200000 | 125465 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 56 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Supranational (continued)** |  |  |
| Inter-American Development Bank<br> 7.000%, 04/17/2033 to 08/08/2033 | 29000000 | $&nbsp;&nbsp;&nbsp;&nbsp;345651 |
|  |  | 1289951 |
| **Switzerland - 0.2%** |  |  |
| UBS Group AG<br> 9.250%, (9.250% to 11-13-33, then 5 Year CMT + 4.758%), 11/13/2033 (D)(F) | $&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;231282 |
| UBS Switzerland AG<br> 3.146%, 06/21/2031 | &nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;119695 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;350977 |
| **United Kingdom - 0.5%** |  |  |
| HSBC Holdings PLC |  |  |
| &nbsp;&nbsp;&nbsp;5.733%, (5.733% to 5-17-31, then Overnight SOFR + 1.520%), 05/17/2032 | $&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;207924 |
| &nbsp;&nbsp;&nbsp;7.050%, (7.050% to 12-5-30, then 5 Year CMT + 2.987%), 06/05/2030 (F) | &nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;202311 |
| INEOS Finance PLC<br> 7.500%, 04/15/2029 (D) | &nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;200414 |
| Rio Tinto Finance USA PLC<br> 4.750%, 03/22/2042 | &nbsp;&nbsp;&nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;86093 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;696742 |
| **United States - 5.3%** |  |  |
| Acadia Healthcare Company, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, 04/15/2029 (D) | &nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;14551 |
| &nbsp;&nbsp;&nbsp;7.375%, 03/15/2033 (D) | &nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;15453 |
| Acrisure LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.000%, 08/01/2029 (D) | &nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;48609 |
| &nbsp;&nbsp;&nbsp;6.750%, 07/01/2032 (D) | &nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;10142 |
| &nbsp;&nbsp;&nbsp;8.500%, 06/15/2029 (D) | &nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;15642 |
| Air Lease Corp.<br> 4.125%, (4.125% to 12-15-26, then 5 Year CMT + 3.149%), 12/15/2026 (F) | &nbsp;&nbsp;&nbsp;&nbsp;39000 | &nbsp;&nbsp;&nbsp;&nbsp;37813 |
| Aircastle, Ltd.<br> 5.250%, (5.250% to 9-15-26, then 5 Year CMT + 4.410% to 9-15-31, then 5 Year CMT + 4.660% to 9-15-46, then 5 Year CMT + 5.160%), 06/15/2026 (D)(F) | &nbsp;&nbsp;&nbsp;&nbsp;66000 | &nbsp;&nbsp;&nbsp;&nbsp;65327 |
| Alliant Holdings Intermediate LLC<br> 7.375%, 10/01/2032 (D) | &nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;41233 |
| Allied Universal Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.875%, 06/15/2030 (D) | &nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;10136 |
| &nbsp;&nbsp;&nbsp;7.875%, 02/15/2031 (D) | &nbsp;&nbsp;&nbsp;&nbsp;14000 | &nbsp;&nbsp;&nbsp;&nbsp;14626 |
| AmeriGas Partners LP<br> 9.375%, 06/01/2028 (D) | &nbsp;&nbsp;&nbsp;&nbsp;210000 | &nbsp;&nbsp;&nbsp;&nbsp;216539 |
| Antero Midstream Partners LP<br> 6.625%, 02/01/2032 (D) | &nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;56807 |
| Athene Holding, Ltd.<br> 6.875%, (6.875% to 6-28-35, then 5 Year CMT + 2.582%), 06/28/2055 | &nbsp;&nbsp;&nbsp;&nbsp;49000 | &nbsp;&nbsp;&nbsp;&nbsp;48760 |
| Avis Budget Car Rental LLC<br> 8.375%, 06/15/2032 (D) | &nbsp;&nbsp;&nbsp;&nbsp;21000 | &nbsp;&nbsp;&nbsp;&nbsp;21971 |
| B&G Foods, Inc.<br> 8.000%, 09/15/2028 (D) | &nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;67395 |
| Baldwin Insurance Group Holdings LLC<br> 7.125%, 05/15/2031 (D) | &nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;25990 |
| BCPE Ulysses Intermediate, Inc.<br> 7.750%, (7.750% Cash or 8.500% PIK), 04/01/2027 (D) | &nbsp;&nbsp;&nbsp;&nbsp;19000 | &nbsp;&nbsp;&nbsp;&nbsp;18364 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **United States (continued)** |  |  |
| Bread Financial Holdings, Inc.<br> 8.375%, (8.375% to 6-15-30, then 5 Year CMT + 4.300%), 06/15/2035 (D) | $&nbsp;&nbsp;44000 | $&nbsp;&nbsp;&nbsp;44302 |
| Caesars Entertainment, Inc.<br> 7.000%, 02/15/2030 (D) | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;25890 |
| CCO Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.750%, 02/01/2032 (D) | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;37941 |
| &nbsp;&nbsp;&nbsp;5.375%, 06/01/2029 (D) | &nbsp;&nbsp;17000 | &nbsp;&nbsp;&nbsp;16938 |
| Champ Acquisition Corp.<br> 8.375%, 12/01/2031 (D) | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;42505 |
| Cinemark USA, Inc.<br> 7.000%, 08/01/2032 (D) | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;20763 |
| Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;7.000%, (7.000% to 8-15-34, then 10 Year CMT + 2.757%), 08/15/2034 (F) | &nbsp;&nbsp;51000 | &nbsp;&nbsp;&nbsp;53609 |
| &nbsp;&nbsp;&nbsp;7.625%, (7.625% to 11-15-28, then 5 Year CMT + 3.211%), 11/15/2028 (F) | &nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;89453 |
| Clear Channel Outdoor Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;7.750%, 04/15/2028 (D) | &nbsp;&nbsp;18000 | &nbsp;&nbsp;&nbsp;17010 |
| &nbsp;&nbsp;&nbsp;9.000%, 09/15/2028 (D) | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;26196 |
| Cleveland-Cliffs, Inc.<br> 7.375%, 05/01/2033 (D) | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;70422 |
| Cloud Software Group, Inc.<br> 9.000%, 09/30/2029 (D) | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;31096 |
| CMS Energy Corp.<br> 4.750%, (4.750% to 6-1-30, then 5 Year CMT + 4.116%), 06/01/2050 | &nbsp;&nbsp;78000 | &nbsp;&nbsp;&nbsp;75801 |
| Cogent Communications Group LLC<br> 6.500%, 07/01/2032 (D) | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;68930 |
| Community Health Systems, Inc.<br> 4.750%, 02/15/2031 (D) | &nbsp;&nbsp;51000 | &nbsp;&nbsp;&nbsp;43599 |
| Compass Group Diversified Holdings LLC<br> 5.250%, 04/15/2029 (D) | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;67320 |
| Concentra Health Services, Inc.<br> 6.875%, 07/15/2032 (D) | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;10354 |
| Cougar JV Subsidiary LLC<br> 8.000%, 05/15/2032 (D) | &nbsp;&nbsp;41000 | &nbsp;&nbsp;&nbsp;43701 |
| CVS Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.750%, (6.750% to 12-10-34, then 5 Year CMT + 2.516%), 12/10/2054 | &nbsp;&nbsp;38000 | &nbsp;&nbsp;&nbsp;38083 |
| &nbsp;&nbsp;&nbsp;7.000%, (7.000% to 3-10-30, then 5 Year CMT + 2.886%), 03/10/2055 | &nbsp;&nbsp;87000 | &nbsp;&nbsp;&nbsp;89733 |
| Deluxe Corp.<br> 8.125%, 09/15/2029 (D) | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;25802 |
| Dentsply Sirona, Inc.<br> 8.375%, (8.375% to 9-12-30, then 5 Year CMT + 4.379%), 09/12/2055 | 135000 | 135745 |
| DISH DBS Corp.<br> 5.750%, 12/01/2028 (D) | &nbsp;&nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;&nbsp;6059 |
| Dominion Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.350%, (4.350% to 4-15-27, then 5 Year CMT + 3.195%), 01/15/2027 (F) | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;73645 |
| &nbsp;&nbsp;&nbsp;6.875%, (6.875% to 2-1-30, then 5 Year CMT + 2.386%), 02/01/2055 | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;36819 |
| EchoStar Corp.<br> 6.750%, (0.000% Cash and 6.750% PIK), 11/30/2030 | &nbsp;&nbsp;36742 | &nbsp;&nbsp;&nbsp;33532 |
| Edison International |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, 03/15/2032 | 130000 | 123318 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 57 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **United States (continued)** |  |  |
| Edison International (continued) |  |  |
| &nbsp;&nbsp;&nbsp;5.375%, (5.375% to 3-15-26, then 5 Year CMT + 4.698%), 03/09/2026 (F) | $140000 | $131813 |
| Energy Transfer LP<br> 8.000%, (8.000% to 5-15-29, then 5 Year CMT + 4.020%), 05/15/2054 | &nbsp;&nbsp;81000 | &nbsp;&nbsp;&nbsp;86175 |
| EQT Corp.<br> 4.750%, 01/15/2031 (D) | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;24607 |
| EUSHI Finance, Inc.<br> 7.625%, (7.625% to 12-15-29, then 5 Year CMT + 3.136%), 12/15/2054 | &nbsp;&nbsp;71000 | &nbsp;&nbsp;&nbsp;73500 |
| EZCORP, Inc.<br> 7.375%, 04/01/2032 (D) | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;73683 |
| FedEx Corp.<br> 4.050%, 02/15/2048 (D) | 125000 | &nbsp;&nbsp;&nbsp;92508 |
| FirstCash, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, 09/01/2028 (D) | &nbsp;&nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;&nbsp;6873 |
| &nbsp;&nbsp;&nbsp;5.625%, 01/01/2030 (D) | &nbsp;&nbsp;16000 | &nbsp;&nbsp;&nbsp;15954 |
| FMC Corp.<br> 8.450%, (8.450% to 11-1-30, then 5 Year CMT + 4.366%), 11/01/2055 | 409000 | 418560 |
| Fortress Intermediate 3, Inc.<br> 7.500%, 06/01/2031 (D) | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;31429 |
| Freedom Mortgage Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;9.125%, 05/15/2031 (D) | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;30923 |
| &nbsp;&nbsp;&nbsp;9.250%, 02/01/2029 (D) | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;25967 |
| General Motors Financial Company, Inc.<br> 5.700%, (5.700% to 9-30-30, then 5 Year CMT + 4.997%), 09/30/2030 (F) | &nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;79244 |
| Global Atlantic Financial Company |  |  |
| &nbsp;&nbsp;&nbsp;4.700%, (4.700% to 10-15-26, then 5 Year CMT + 3.796%), 10/15/2051 (D) | 112000 | 109945 |
| &nbsp;&nbsp;&nbsp;7.950%, (7.950% to 10-15-29, then 5 Year CMT + 3.608%), 10/15/2054 (D) | &nbsp;&nbsp;28000 | &nbsp;&nbsp;&nbsp;29150 |
| Hightower Holding LLC<br> 6.750%, 04/15/2029 (D) | &nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;84712 |
| HUB International, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;5.625%, 12/01/2029 (D) | &nbsp;&nbsp;18000 | &nbsp;&nbsp;&nbsp;18002 |
| &nbsp;&nbsp;&nbsp;7.375%, 01/31/2032 (D) | &nbsp;&nbsp;21000 | &nbsp;&nbsp;&nbsp;21973 |
| Intel Corp.<br> 5.600%, 02/21/2054 | 102000 | &nbsp;&nbsp;&nbsp;93575 |
| Intercontinental Exchange, Inc.<br> 3.625%, 09/01/2028 | &nbsp;&nbsp;27000 | &nbsp;&nbsp;&nbsp;26430 |
| Iron Mountain, Inc.<br> 4.500%, 02/15/2031 (D) | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;57167 |
| JetBlue Airways Corp.<br> 9.875%, 09/20/2031 (D) | &nbsp;&nbsp;93000 | &nbsp;&nbsp;&nbsp;90478 |
| Kohl's Corp.<br> 10.000%, 06/01/2030 (D) | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;31096 |
| LABL, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, 11/01/2028 (D) | &nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;7870 |
| &nbsp;&nbsp;&nbsp;8.625%, 10/01/2031 (D) | 140000 | 119752 |
| LBM Acquisition LLC<br> 6.250%, 01/15/2029 (D) | &nbsp;&nbsp;92000 | &nbsp;&nbsp;&nbsp;79810 |
| LCM Investments Holdings II LLC<br> 8.250%, 08/01/2031 (D) | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;21264 |
| Level 3 Financing, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 04/01/2030 (D) | &nbsp;&nbsp;33000 | &nbsp;&nbsp;&nbsp;29865 |
| &nbsp;&nbsp;&nbsp;6.875%, 06/30/2033 (D) | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;25438 |
| LFS Topco LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, 10/15/2026 (D) | &nbsp;&nbsp;21000 | &nbsp;&nbsp;&nbsp;20999 |
| &nbsp;&nbsp;&nbsp;8.750%, 07/15/2030 (D) | 156000 | 153457 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **United States (continued)** |  |  |
| Liberty Mutual Group, Inc.<br> 4.125%, (4.125% to 12-15-26, then 5 Year CMT + 3.315%), 12/15/2051 (D) | $&nbsp;&nbsp;38000 | $&nbsp;&nbsp;&nbsp;37004 |
| Lincoln National Corp.<br> 9.250%, (9.250% to 3-1-28, then 5 Year CMT + 5.318%), 12/01/2027 (F) | 142000 | 154692 |
| Macy's Retail Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, 01/15/2042 | &nbsp;&nbsp;24000 | &nbsp;&nbsp;&nbsp;16486 |
| &nbsp;&nbsp;&nbsp;6.125%, 03/15/2032 (D) | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;14301 |
| MajorDrive Holdings IV LLC<br> 6.375%, 06/01/2029 (D) | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;58915 |
| Matador Resources Company<br> 6.500%, 04/15/2032 (D) | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;15008 |
| Medline Borrower LP<br> 5.250%, 10/01/2029 (D) | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;39688 |
| MetLife, Inc.<br> 10.750%, 08/01/2039 | &nbsp;&nbsp;63000 | &nbsp;&nbsp;&nbsp;84258 |
| Newell Brands, Inc.<br> 8.500%, 06/01/2028 (D) | &nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;5251 |
| Noble Finance II LLC<br> 8.000%, 04/15/2030 (D) | 210000 | 213827 |
| Novelis Corp.<br> 3.250%, 11/15/2026 (D) | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;19680 |
| Pacific Gas & Electric Company |  |  |
| &nbsp;&nbsp;&nbsp;5.900%, 10/01/2054 | &nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;81598 |
| &nbsp;&nbsp;&nbsp;6.150%, 01/15/2033 | &nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;87546 |
| &nbsp;&nbsp;&nbsp;6.400%, 06/15/2033 | &nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;88852 |
| PennyMac Financial Services, Inc.<br> 6.875%, 05/15/2032 (D) | &nbsp;&nbsp;14000 | &nbsp;&nbsp;&nbsp;14315 |
| Permian Resources Operating LLC<br> 7.000%, 01/15/2032 (D) | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;15550 |
| PG&E Corp.<br> 7.375%, (7.375% to 3-15-30, then 5 Year CMT + 3.883%), 03/15/2055 | 120000 | 113642 |
| Planet Financial Group LLC<br> 10.500%, 12/15/2029 (D) | 150000 | 150143 |
| Quikrete Holdings, Inc.<br> 6.375%, 03/01/2032 (D) | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;20566 |
| Range Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.750%, 02/15/2030 (D) | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;9727 |
| &nbsp;&nbsp;&nbsp;8.250%, 01/15/2029 | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;10296 |
| Reworld Holding Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.875%, 12/01/2029 (D) | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;23784 |
| &nbsp;&nbsp;&nbsp;5.000%, 09/01/2030 | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;56708 |
| Rocket Companies, Inc.<br> 6.375%, 08/01/2033 (D) | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;30696 |
| Rocket Software, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.500%, 02/15/2029 (D) | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;29109 |
| &nbsp;&nbsp;&nbsp;9.000%, 11/28/2028 (D) | &nbsp;&nbsp;17000 | &nbsp;&nbsp;&nbsp;17524 |
| Rockies Express Pipeline LLC<br> 6.750%, 03/15/2033 (D) | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;31310 |
| S&S Holdings LLC<br> 8.375%, 10/01/2031 (D) | &nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;87956 |
| Santander Holdings USA, Inc.<br> 5.473%, (5.473% to 3-20-28, then Overnight SOFR + 1.610%), 03/20/2029 | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;76258 |
| Scripps Escrow II, Inc.<br> 3.875%, 01/15/2029 (D) | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;21763 |
| Scripps Escrow, Inc.<br> 5.875%, 07/15/2027 (D) | &nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;8010 |
| Shift4 Payments, Inc.<br> 6.750%, 08/15/2032 (D) | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;20771 |
| SM Energy Company<br> 6.750%, 08/01/2029 (D) | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;29890 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 58 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **United States (continued)** |  |  |
| Smyrna Ready Mix Concrete LLC<br> 8.875%, 11/15/2031 (D) | $&nbsp;&nbsp;60000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62907 |
| Staples, Inc.<br> 10.750%, 09/01/2029 (D) | &nbsp;&nbsp;43000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40696 |
| Star Parent, Inc.<br> 9.000%, 10/01/2030 (D) | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31555 |
| Sunoco LP |  |  |
| &nbsp;&nbsp;&nbsp;6.250%, 07/01/2033 (D) | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10167 |
| &nbsp;&nbsp;&nbsp;7.000%, 05/01/2029 (D) | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20828 |
| Talos Production, Inc.<br> 9.375%, 02/01/2031 (D) | 161000 | &nbsp;&nbsp;&nbsp;&nbsp;164375 |
| Tenet Healthcare Corp.<br> 6.750%, 05/15/2031 | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25865 |
| The AES Corp.<br> 6.950%, (6.950% to 7-15-30, then 5 Year CMT + 2.890%), 07/15/2055 | &nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87796 |
| The Chemours Company<br> 4.625%, 11/15/2029 (D) | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65283 |
| The Goldman Sachs Group, Inc.<br> 3.650%, (3.650% to 8-10-26, then 5 Year CMT + 2.915%), 08/10/2026 (F) | &nbsp;&nbsp;59000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57760 |
| The Hertz Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, 12/01/2029 (D) | &nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2106 |
| &nbsp;&nbsp;&nbsp;12.625%, 07/15/2029 (D) | &nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3137 |
| Transocean, Inc.<br> 8.750%, 02/15/2030 (D) | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;205669 |
| Under Armour, Inc.<br> 7.250%, 07/15/2030 (D) | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20254 |
| UnitedHealth Group, Inc.<br> 6.875%, 02/15/2038 | &nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90942 |
| Velocity Vehicle Group LLC<br> 8.000%, 06/01/2029 (D) | 140000 | &nbsp;&nbsp;&nbsp;&nbsp;139887 |
| Venture Global Plaquemines LNG LLC<br> 6.750%, 01/15/2036 (D) | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000 |
| Vital Energy, Inc.<br> 7.875%, 04/15/2032 (D)(G) | 220000 | &nbsp;&nbsp;&nbsp;&nbsp;188105 |
| WarnerMedia Holdings, Inc.<br> 5.050%, 03/15/2042 | &nbsp;&nbsp;68000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45815 |
| Wells Fargo & Company<br> 3.900%, (3.900% to 3-15-26, then 5 Year CMT + 3.453%), 03/15/2026 (F) | &nbsp;&nbsp;39000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38600 |
| Westlake Corp.<br> 2.875%, 08/15/2041 | 150000 | &nbsp;&nbsp;&nbsp;&nbsp;100874 |
| Windsor Holdings III LLC<br> 8.500%, 06/15/2030 (D) | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37507 |
| WW International, Inc.<br> 4.500%, 04/15/2029 (D)(E) | 220000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72875 |
|  |  | &nbsp;&nbsp;&nbsp;7448270 |
| TOTAL CORPORATE BONDS (Cost $16,337,126) | TOTAL CORPORATE BONDS (Cost $16,337,126) | $16556050 |
| **CONVERTIBLE BONDS - 7.7%** | **CONVERTIBLE BONDS - 7.7%** |  |
| **Canada - 0.1%** |  |  |
| Advantage Energy, Ltd.<br> 5.000%, 06/30/2029 (D) | &nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70541 |
| **Cayman Islands - 0.0%** |  |  |
| Seagate HDD Cayman<br> 3.500%, 06/01/2028 | $&nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62948 |
| **China - 0.1%** |  |  |
| Alibaba Group Holding, Ltd.<br> 0.500%, 06/01/2031 | &nbsp;&nbsp;44000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56048 |
| H World Group, Ltd.<br> 3.000%, 05/01/2026 | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31665 |
| JD.com, Inc.<br> 0.250%, 06/01/2029 | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52025 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CONVERTIBLE BONDS (continued)** | **CONVERTIBLE BONDS (continued)** |  |
| **China (continued)** |  |  |
| Smart Insight International, Ltd.<br> 4.500%, 12/05/2023 (E) | &nbsp;&nbsp;2000000 | $&nbsp;&nbsp;&nbsp;18259 |
| ZTO Express Cayman, Inc.<br> 1.500%, 09/01/2027 | $&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;39720 |
|  |  | 197717 |
| **France - 0.4%** |  |  |
| Accor SA<br> 0.700%, 12/07/2027 | &nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;52119 |
| Schneider Electric SE<br> 1.625%, 06/28/2031 | &nbsp;&nbsp;&nbsp;&nbsp;100000 | 125775 |
| Ubisoft Entertainment SA<br> 2.875%, 12/05/2031 | &nbsp;&nbsp;&nbsp;&nbsp;400000 | 374824 |
|  |  | 552718 |
| **India - 0.0%** |  |  |
| MakeMyTrip, Ltd., Zero Coupon<br> 0.000%, 07/01/2030 (D) | $&nbsp;&nbsp;&nbsp;&nbsp;43000 | &nbsp;&nbsp;&nbsp;45827 |
| **Italy - 0.4%** |  |  |
| Eni SpA<br> 2.950%, 09/14/2030 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | 605867 |
| **Japan - 0.3%** |  |  |
| ANA Holdings, Inc., Zero Coupon<br> 0.000%, 12/10/2031 | 10000000 | &nbsp;&nbsp;&nbsp;76299 |
| Daifuku Company, Ltd., Zero Coupon<br> 0.000%, 09/13/2030 | 10000000 | &nbsp;&nbsp;&nbsp;87844 |
| Nxera Pharma Company, Ltd.<br> 0.250%, 12/14/2028 | 30000000 | 196472 |
|  |  | 360615 |
| **Luxembourg - 0.0%** |  |  |
| Arrival SA<br> 3.500%, 12/01/2026 (D)(E) | $&nbsp;&nbsp;&nbsp;&nbsp;515000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52 |
| Mitsubishi UFJ Investor Services & Banking Luxembourg SA<br> 6.540%, (3 month EURIBOR + 4.500%), 12/15/2050 (H) | &nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;69047 |
|  |  | &nbsp;&nbsp;&nbsp;69099 |
| **Netherlands - 0.2%** |  |  |
| Qiagen NV<br> 2.500%, 09/10/2031 | $&nbsp;&nbsp;&nbsp;&nbsp;200000 | 212408 |
| **Singapore - 0.0%** |  |  |
| Sea, Ltd.<br> 0.250%, 09/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;21000 | &nbsp;&nbsp;&nbsp;19803 |
| Trip.com Group, Ltd.<br> 0.750%, 06/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;27738 |
|  |  | &nbsp;&nbsp;&nbsp;47541 |
| **Spain - 0.4%** |  |  |
| Cellnex Telecom SA<br> 0.750%, 11/20/2031 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | 524821 |
| **Switzerland - 0.3%** |  |  |
| STMicroelectronics NV<br> 0.366%, 08/04/2027 (C) | $&nbsp;&nbsp;&nbsp;&nbsp;400000 | 396904 |
| **United Kingdom - 0.2%** |  |  |
| Immunocore Holdings PLC<br> 2.500%, 02/01/2030 | &nbsp;&nbsp;&nbsp;&nbsp;305000 | 263010 |
| **United States - 5.3%** |  |  |
| 3D Systems Corp.<br> 10.227%, 11/15/2026 (C) | &nbsp;&nbsp;&nbsp;&nbsp;18000 | &nbsp;&nbsp;&nbsp;15710 |
| Affirm Holdings, Inc.<br> 0.750%, 12/15/2029 (D) | &nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;15818 |
| Akamai Technologies, Inc.<br> 1.125%, 02/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;18930 |
| Alarm.com Holdings, Inc.<br> 5.665%, 01/15/2026 (C) | &nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;29100 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 59 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CONVERTIBLE BONDS (continued)** | **CONVERTIBLE BONDS (continued)** |  |
| **United States (continued)** |  |  |
| Alliant Energy Corp.<br> 3.250%, 05/30/2028 (D) | $&nbsp;&nbsp;25000 | $&nbsp;&nbsp;&nbsp;24875 |
| Alnylam Pharmaceuticals, Inc.<br> 1.000%, 09/15/2027 | &nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;58455 |
| Apellis Pharmaceuticals, Inc.<br> 3.500%, 09/15/2026 | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;58680 |
| AST SpaceMobile, Inc.<br> 4.250%, 03/01/2032 (D) | &nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;3964 |
| Axon Enterprise, Inc.<br> 0.500%, 12/15/2027 | &nbsp;&nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;25393 |
| Bandwidth, Inc.<br> 0.250%, 03/01/2026 | &nbsp;&nbsp;42000 | &nbsp;&nbsp;&nbsp;38695 |
| Bentley Systems, Inc.<br> 0.125%, 01/15/2026 | 100000 | &nbsp;&nbsp;&nbsp;99200 |
| Beyond Meat, Inc., Zero Coupon<br> 0.000%, 03/15/2027 | 130000 | &nbsp;&nbsp;&nbsp;10335 |
| BILL Holdings, Inc.<br> 3.650%, 04/01/2030 (C)(D) | 115000 | &nbsp;&nbsp;&nbsp;96744 |
| BioMarin Pharmaceutical, Inc.<br> 1.250%, 05/15/2027 | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;65891 |
| Block, Inc.<br> 0.250%, 11/01/2027 (G) | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;66938 |
| Cable One, Inc.<br> 1.125%, 03/15/2028 | &nbsp;&nbsp;16000 | &nbsp;&nbsp;&nbsp;12200 |
| Cardlytics, Inc.<br> 1.000%, 09/15/2025 (G) | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;67200 |
| Carnival Corp.<br> 5.750%, 12/01/2027 | &nbsp;&nbsp;26000 | &nbsp;&nbsp;&nbsp;57187 |
| Cloudflare, Inc., Zero Coupon |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, 08/15/2026 | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;23662 |
| &nbsp;&nbsp;&nbsp;0.000%, 06/15/2030 (D) | &nbsp;&nbsp;51000 | &nbsp;&nbsp;&nbsp;55029 |
| Coinbase Global, Inc.<br> 0.250%, 04/01/2030 | &nbsp;&nbsp;17000 | &nbsp;&nbsp;&nbsp;22194 |
| Cytokinetics, Inc.<br> 3.500%, 07/01/2027 (G) | 273000 | 290336 |
| Datadog, Inc.<br> 1.020%, 12/01/2029 (C)(D) | 173000 | 165302 |
| DexCom, Inc.<br> 0.375%, 05/15/2028 | 300000 | 281400 |
| Digital Realty Trust LP<br> 1.875%, 11/15/2029 (D) | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;52570 |
| DraftKings Holdings, Inc.<br> 4.142%, 03/15/2028 (C) | &nbsp;&nbsp;72000 | &nbsp;&nbsp;&nbsp;64404 |
| Dropbox, Inc., Zero Coupon<br> 0.000%, 03/01/2028 | &nbsp;&nbsp;37000 | &nbsp;&nbsp;&nbsp;37481 |
| Enphase Energy, Inc.<br> 8.042%, 03/01/2028 (C) | 320000 | 259520 |
| Etsy, Inc.<br> 0.125%, 09/01/2027 (G) | 365000 | 324850 |
| Evolent Health, Inc.<br> 3.500%, 12/01/2029 | 320000 | 271569 |
| Exact Sciences Corp. |  |  |
| &nbsp;&nbsp;&nbsp;0.375%, 03/15/2027 | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;57090 |
| &nbsp;&nbsp;&nbsp;1.750%, 04/15/2031 (D)(G) | 270000 | 246994 |
| &nbsp;&nbsp;&nbsp;2.000%, 03/01/2030 (D) | &nbsp;&nbsp;18000 | &nbsp;&nbsp;&nbsp;18180 |
| Five9, Inc.<br> 1.000%, 03/15/2029 | 220000 | 191730 |
| Fluor Corp.<br> 1.125%, 08/15/2029 | &nbsp;&nbsp;62000 | &nbsp;&nbsp;&nbsp;81344 |
| GameStop Corp., Zero Coupon<br> 0.000%, 04/01/2030 (D) | &nbsp;&nbsp;18000 | &nbsp;&nbsp;&nbsp;19440 |
| Global Payments, Inc.<br> 1.500%, 03/01/2031 | 395000 | 352735 |
| Granite Construction, Inc.<br> 3.250%, 06/15/2030 | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;20468 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CONVERTIBLE BONDS (continued)** | **CONVERTIBLE BONDS (continued)** |  |
| **United States (continued)** |  |  |
| Guidewire Software, Inc.<br> 1.250%, 11/01/2029 (D) | $&nbsp;&nbsp;40000 | $&nbsp;&nbsp;&nbsp;47160 |
| Haemonetics Corp.<br> 2.500%, 06/01/2029 | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;19845 |
| HAT Holdings I LLC<br> 3.750%, 08/15/2028 (D) | &nbsp;&nbsp;27000 | &nbsp;&nbsp;&nbsp;31158 |
| Integer Holdings Corp.<br> 1.875%, 03/15/2030 (D) | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;51950 |
| Ionis Pharmaceuticals, Inc.<br> 1.750%, 06/15/2028 | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;62963 |
| Itron, Inc.<br> 1.375%, 07/15/2030 | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;23780 |
| JBT Marel Corp.<br> 0.250%, 05/15/2026 | &nbsp;&nbsp;37000 | &nbsp;&nbsp;&nbsp;36708 |
| Lantheus Holdings, Inc.<br> 2.625%, 12/15/2027 | &nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;15228 |
| Live Nation Entertainment, Inc.<br> 2.875%, 01/15/2030 (D) | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;54375 |
| Lumentum Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;0.500%, 06/15/2028 | &nbsp;&nbsp;22000 | &nbsp;&nbsp;&nbsp;22704 |
| &nbsp;&nbsp;&nbsp;1.500%, 12/15/2029 | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;53673 |
| Magnite, Inc.<br> 0.250%, 03/15/2026 | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;67313 |
| Merit Medical Systems, Inc.<br> 3.000%, 02/01/2029 (D) | &nbsp;&nbsp;19000 | &nbsp;&nbsp;&nbsp;23746 |
| Meritage Homes Corp.<br> 1.750%, 05/15/2028 | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;48411 |
| Microchip Technology, Inc.<br> 0.750%, 06/01/2030 | &nbsp;&nbsp;57000 | &nbsp;&nbsp;&nbsp;55974 |
| MicroStrategy, Inc., Zero Coupon<br> 0.000%, 03/01/2030 (D) | &nbsp;&nbsp;48000 | &nbsp;&nbsp;&nbsp;56226 |
| MKS, Inc.<br> 1.250%, 06/01/2030 | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;19710 |
| MP Materials Corp.<br> 0.250%, 04/01/2026 (D) | 260000 | 268288 |
| NCL Corp., Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;0.875%, 04/15/2030 (D) | &nbsp;&nbsp;34000 | &nbsp;&nbsp;&nbsp;36359 |
| &nbsp;&nbsp;&nbsp;2.500%, 02/15/2027 (G) | &nbsp;&nbsp;79000 | &nbsp;&nbsp;&nbsp;78882 |
| Northern Oil & Gas, Inc.<br> 3.625%, 04/15/2029 | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;36488 |
| Nutanix, Inc.<br> 0.500%, 12/15/2029 (D) | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;67992 |
| ON Semiconductor Corp.<br> 0.500%, 03/01/2029 | 140000 | 129388 |
| Parsons Corp.<br> 2.625%, 03/01/2029 | 115000 | 122245 |
| Pebblebrook Hotel Trust<br> 1.750%, 12/15/2026 | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;66156 |
| PG&E Corp.<br> 4.250%, 12/01/2027 | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;59538 |
| Redfin Corp.<br> 0.500%, 04/01/2027 | &nbsp;&nbsp;27000 | &nbsp;&nbsp;&nbsp;24235 |
| Repay Holdings Corp.<br> 2.875%, 07/15/2029 (D) | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;57715 |
| Repligen Corp.<br> 1.000%, 12/15/2028 | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;14858 |
| Rexford Industrial Realty LP<br> 4.125%, 03/15/2029 (D) | 310000 | 302870 |
| RingCentral, Inc.<br> 6.016%, 03/15/2026 (C) | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;67130 |
| Rivian Automotive, Inc.<br> 3.625%, 10/15/2030 | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;44825 |
| Sarepta Therapeutics, Inc.<br> 1.250%, 09/15/2027 | 225000 | 162000 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 60 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CONVERTIBLE BONDS (continued)** | **CONVERTIBLE BONDS (continued)** |  |
| **United States (continued)** |  |  |
| Semtech Corp.<br> 1.625%, 11/01/2027 | &nbsp;&nbsp;18000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25883 |
| Shake Shack, Inc., Zero Coupon<br> 0.000%, 03/01/2028 | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16022 |
| Shift4 Payments, Inc.<br> 0.500%, 08/01/2027 | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26750 |
| Snap, Inc.<br> 0.125%, 03/01/2028 | 470000 | &nbsp;&nbsp;&nbsp;&nbsp;407490 |
| Snowflake, Inc., Zero Coupon<br> 0.000%, 10/01/2029 (D) | &nbsp;&nbsp;43000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66908 |
| Spotify USA, Inc., Zero Coupon<br> 0.000%, 03/15/2026 | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53022 |
| Stem, Inc.<br> 0.500%, 12/01/2028 (D) | 135000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32738 |
| Sunnova Energy International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;0.250%, 12/01/2026 (E) | 390000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;975 |
| &nbsp;&nbsp;&nbsp;2.625%, 02/15/2028 (E) | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 |
| Sunrun, Inc.<br> 4.000%, 03/01/2030 | &nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59535 |
| Synaptics, Inc.<br> 0.750%, 12/01/2031 (D) | &nbsp;&nbsp;28000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26388 |
| Teladoc Health, Inc.<br> 1.250%, 06/01/2027 | 242000 | &nbsp;&nbsp;&nbsp;&nbsp;222592 |
| The Greenbrier Companies, Inc.<br> 2.875%, 04/15/2028 | &nbsp;&nbsp;19000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20165 |
| The Southern Company |  |  |
| &nbsp;&nbsp;&nbsp;3.250%, 06/15/2028 (D) | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20100 |
| &nbsp;&nbsp;&nbsp;4.500%, 06/15/2027 | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38500 |
| Tyler Technologies, Inc.<br> 0.250%, 03/15/2026 | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24580 |
| Uber Technologies, Inc.<br> 0.875%, 12/01/2028 | 115000 | &nbsp;&nbsp;&nbsp;&nbsp;164048 |
| Unity Software, Inc., Zero Coupon<br> 0.000%, 03/15/2030 (D) | &nbsp;&nbsp;93000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94814 |
| Ventas Realty LP<br> 3.750%, 06/01/2026 | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23910 |
| Verint Systems, Inc.<br> 0.250%, 04/15/2026 | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66955 |
| Vishay Intertechnology, Inc.<br> 2.250%, 09/15/2030 | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62650 |
| Wayfair, Inc.<br> 3.250%, 09/15/2027 | &nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10256 |
| WEC Energy Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.375%, 06/01/2028 (D) | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20030 |
| &nbsp;&nbsp;&nbsp;4.375%, 06/01/2029 | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46060 |
| Welltower OP LLC<br> 2.750%, 05/15/2028 (D) | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65120 |
| Western Digital Corp.<br> 3.000%, 11/15/2028 | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35900 |
|  |  | &nbsp;&nbsp;&nbsp;7463022 |
| TOTAL CONVERTIBLE BONDS (Cost $11,919,707) | TOTAL CONVERTIBLE BONDS (Cost $11,919,707) | $10873038 |
| **TERM LOANS (I) - 2.1%** | **TERM LOANS (I) - 2.1%** |  |
| **United States - 2.1%** |  |  |
| ABG Intermediate Holdings 2 LLC, 2024 1st Lien Term Loan B (1 month CME Term SOFR + 2.250%) 6.577%, 12/21/2028 | &nbsp;&nbsp;57896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57819 |
| Acrisure LLC, 2024 1st Lien Term Loan B6 (1 month CME Term SOFR + 3.000%) 7.327%, 11/06/2030 | &nbsp;&nbsp;99251 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98897 |
| Asurion LLC, 2020 Term Loan B8 (1 month CME Term SOFR + 4.250%) 8.691%, 12/23/2026 | 108129 | &nbsp;&nbsp;&nbsp;&nbsp;104939 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **TERM LOANS (I) (continued)** | **TERM LOANS (I) (continued)** |  |
| **United States (continued)** |  |  |
| Asurion LLC, 2021 2nd Lien Term Loan B3 (1 month CME Term SOFR + 5.250%) 9.691%, 01/31/2028 | $145000 | $138294 |
| AthenaHealth Group, Inc., 2022 Term Loan B (1 month CME Term SOFR + 2.750%) 7.077%, 02/15/2029 | &nbsp;&nbsp;42409 | &nbsp;&nbsp;&nbsp;42343 |
| Berlin Packaging LLC, 2024 Term Loan B7 (1 and 3 month CME Term SOFR + 3.500%) 7.821%, 06/07/2031 | 164509 | 165045 |
| Caesars Entertainment, Inc., Term Loan B (1 month CME Term SOFR + 2.250%) 6.577%, 02/06/2030 | &nbsp;&nbsp;85838 | &nbsp;&nbsp;&nbsp;85666 |
| Cinemark USA, Inc., 2024 Term Loan B (1 and 3 month CME Term SOFR + 2.750%) 7.068%, 05/24/2030 | 122516 | 122860 |
| EMRLD Borrower LP, Term Loan B (3 month CME Term SOFR + 2.500%) 6.833%, 05/31/2030 | &nbsp;&nbsp;73566 | &nbsp;&nbsp;&nbsp;73464 |
| First Brands Group LLC, 2022 Incremental Term Loan (3 month CME Term SOFR + 5.000%) 9.541%, 03/30/2027 | &nbsp;&nbsp;99187 | &nbsp;&nbsp;&nbsp;93380 |
| Flynn Restaurant Group LP, 2025 Incremental Term Loan (1 month CME Term SOFR + 3.750%) 8.077%, 01/28/2032 | &nbsp;&nbsp;99750 | &nbsp;&nbsp;&nbsp;99501 |
| Fortress Intermediate 3, Inc., 2025 Term Loan B 06/27/2031 TBD (J) | 145756 | 145938 |
| Hanesbrands, Inc., 2025 Term Loan B (1 month CME Term SOFR + 2.750%) 7.077%, 03/07/2032 | &nbsp;&nbsp;39597 | &nbsp;&nbsp;&nbsp;39663 |
| Hobbs & Associates LLC, Term Loan B (1 month CME Term SOFR + 2.750%) 7.077%, 07/23/2031 | &nbsp;&nbsp;99977 | &nbsp;&nbsp;&nbsp;99821 |
| HUB International, Ltd., 2025 Term Loan B (3 month CME Term SOFR + 2.500%) 6.770%, 06/20/2030 | &nbsp;&nbsp;88103 | &nbsp;&nbsp;&nbsp;88347 |
| IRB Holding Corp., 2024 1st Lien Term Loan B (1 month CME Term SOFR + 2.500%) 6.827%, 12/15/2027 | &nbsp;&nbsp;96290 | &nbsp;&nbsp;&nbsp;96256 |
| LBM Acquisition LLC, 2024 Incremental Term Loan B (1 month CME Term SOFR + 3.750%) 8.162%, 06/06/2031 | &nbsp;&nbsp;99032 | &nbsp;&nbsp;&nbsp;92224 |
| Medline Borrower LP, 2024 USD Add-on Term Loan B (1 month CME Term SOFR + 2.250%) 6.577%, 10/23/2028 | &nbsp;&nbsp;91219 | &nbsp;&nbsp;&nbsp;91264 |
| MH Sub I LLC, 2023 Term Loan (1 month CME Term SOFR + 4.250%) 8.577%, 05/03/2028 | &nbsp;&nbsp;57617 | &nbsp;&nbsp;&nbsp;53998 |
| MH Sub I LLC, 2024 Term Loan B4 (1 month CME Term SOFR + 4.250%) 8.577%, 12/31/2031 | &nbsp;&nbsp;38996 | &nbsp;&nbsp;&nbsp;33796 |
| Oryx Midstream Services Permian Basin LLC, 2025 Term Loan B (1 month CME Term SOFR + 2.250%) 6.572%, 10/05/2028 | &nbsp;&nbsp;95593 | &nbsp;&nbsp;&nbsp;95510 |
| Quikrete Holdings, Inc., 2025 Term Loan B (1 month CME Term SOFR + 2.250%) 6.577%, 02/10/2032 | &nbsp;&nbsp;99750 | &nbsp;&nbsp;&nbsp;99575 |
| Sedgwick Claims Management Services, Inc., 2023 Term Loan B (1 month CME Term SOFR + 3.000%) 7.327%, 07/31/2031 | 191089 | 191687 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 61 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **TERM LOANS (I) (continued)** | **TERM LOANS (I) (continued)** |  |
| **United States (continued)** |  |  |
| The Michaels Companies, Inc., 2021 Term Loan B (3 month CME Term SOFR + 4.250%) 8.807%, 04/17/2028 | 124800 | $&nbsp;&nbsp;&nbsp;&nbsp;104338 |
| TIH Insurance Holdings LLC, 2024 Term Loan B (3 month CME Term SOFR + 2.750%) 7.046%, 05/06/2031 | &nbsp;&nbsp;45968 | &nbsp;&nbsp;&nbsp;&nbsp;45958 |
| TransDigm, Inc., 2023 Term Loan J (3 month CME Term SOFR + 2.500%) 6.796%, 02/28/2031 | 163433 | &nbsp;&nbsp;&nbsp;&nbsp;163711 |
| UKG, Inc., 2024 Term Loan B (1 month CME Term SOFR + 3.000%) 7.311%, 02/10/2031 | &nbsp;&nbsp;99000 | &nbsp;&nbsp;&nbsp;&nbsp;99348 |
| USI, Inc., 2024 Term Loan D (3 month CME Term SOFR + 2.250%) 6.546%, 11/21/2029 | 196301 | &nbsp;&nbsp;&nbsp;&nbsp;195902 |
| Windsor Holdings III LLC, 2025 USD Term Loan B (1 month CME Term SOFR + 2.750%) 7.072%, 08/01/2030 | 113000 | &nbsp;&nbsp;&nbsp;&nbsp;112972 |
| WW International, Inc., 2021 Term Loan B 0.000%, 04/13/2028 (E) | &nbsp;&nbsp;94500 | &nbsp;&nbsp;&nbsp;&nbsp;30949 |
|  |  | 2963465 |
| TOTAL TERM LOANS (Cost $3,057,359) | TOTAL TERM LOANS (Cost $3,057,359) | $2963465 |
| **COLLATERALIZED MORTGAGE OBLIGATIONS - 5.1%** | **COLLATERALIZED MORTGAGE OBLIGATIONS - 5.1%** |  |
| **Commercial and residential - 1.8%** |  |  |
| Angel Oak Mortgage Trust, Series 2020-3, Class M1,<br> 3.809%, 04/25/2065 (D)(K) | 180000 | &nbsp;&nbsp;&nbsp;&nbsp;170118 |
| BAHA Trust, Series 2024-MAR, Class C,<br> 7.766%, 12/10/2041 (D)(K) | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;104344 |
| BANK |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-BN15, Class B,<br> 4.818%, 11/15/2061 (K) | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;47610 |
| &nbsp;&nbsp;&nbsp;Series 2020-BN25, Class AS,<br> 2.841%, 01/15/2063 | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;54356 |
| &nbsp;&nbsp;&nbsp;Series 2021-BN37, Class XA IO,<br> 0.693%, 11/15/2064 | 984754 | &nbsp;&nbsp;&nbsp;&nbsp;23716 |
| &nbsp;&nbsp;&nbsp;Series 2022-BNK42, Class AS,<br> 4.880%, 06/15/2055 (K) | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;57709 |
| BBCMS Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2023-5C23, Class C,<br> 7.703%, 12/15/2056 (K) | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;78097 |
| &nbsp;&nbsp;&nbsp;Series 2023-C20, Class AS,<br> 5.973%, 07/15/2056 (K) | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;15555 |
| &nbsp;&nbsp;&nbsp;Series 2024-5C25, Class C,<br> 6.643%, 03/15/2057 (K) | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;20509 |
| &nbsp;&nbsp;&nbsp;Series 2024-5C27, Class C,<br> 6.700%, 07/15/2057 (K) | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;20679 |
| &nbsp;&nbsp;&nbsp;Series 2024-C26, Class C,<br> 6.000%, 05/15/2057 (K) | &nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;90435 |
| &nbsp;&nbsp;&nbsp;Series 2025-C32, Class C,<br> 6.125%, 02/15/2062 | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;55692 |
| Benchmark Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-B1, Class AM,<br> 3.878%, 01/15/2051 (K) | &nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;&nbsp;82406 |
| &nbsp;&nbsp;&nbsp;Series 2018-B5, Class C,<br> 4.750%, 07/15/2051 (K) | &nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;77607 |
| &nbsp;&nbsp;&nbsp;Series 2020-B16, Class AM,<br> 2.944%, 02/15/2053 (K) | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;53998 |
| &nbsp;&nbsp;&nbsp;Series 2024-V6, Class C,<br> 6.669%, 03/15/2057 | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;20559 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| BFLD Commercial Mortgage Trust, Series 2024-UNIV, Class B (1 month CME Term SOFR + 1.842%),<br> 6.154%, 11/15/2041 (D)(H) | $&nbsp;&nbsp;55000 | $&nbsp;&nbsp;&nbsp;55069 |
| BMO Mortgage Trust, Series 2024-C10, Class C,<br> 5.979%, 11/15/2057 (K) | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;14933 |
| BPR Trust, Series 2024-PMDW, Class C,<br> 5.850%, 11/05/2041 (D)(K) | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;9981 |
| BRAVO Residential Funding Trust, Series 2020-NQM1, Class M1,<br> 3.181%, 05/25/2060 (D)(K) | 180000 | 173148 |
| BX Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-MFM1, Class D (1 month CME Term SOFR + 1.614%),<br> 5.926%, 01/15/2034 (D)(H) | &nbsp;&nbsp;38500 | &nbsp;&nbsp;&nbsp;38488 |
| &nbsp;&nbsp;&nbsp;Series 2024-BRVE, Class B (1 month CME Term SOFR + 2.540%),<br> 6.852%, 04/15/2026 (D)(H) | 100000 | &nbsp;&nbsp;&nbsp;99969 |
| CFCRE Commercial Mortgage Trust, Series 2016-C6, Class B,<br> 3.804%, 11/10/2049 | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;56752 |
| Commercial Mortgage Trust (Cantor<br> Fitzgerald/Deutsche Bank AG) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2014-CR15, Class B,<br> 4.019%, 02/10/2047 (K) | &nbsp;&nbsp;22652 | &nbsp;&nbsp;&nbsp;22091 |
| &nbsp;&nbsp;&nbsp;Series 2014-CR15, Class C,<br> 4.069%, 02/10/2047 (K) | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;33433 |
| &nbsp;&nbsp;&nbsp;Series 2014-CR19, Class D,<br> 4.661%, 08/10/2047 (D)(K) | &nbsp;&nbsp;26393 | &nbsp;&nbsp;&nbsp;25338 |
| CSMC Trust, Series 2021-NQM6, Class A2,<br> 1.379%, 07/25/2066 (D)(K) | &nbsp;&nbsp;55057 | &nbsp;&nbsp;&nbsp;46068 |
| GS Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2017-GS6, Class C,<br> 4.322%, 05/10/2050 (K) | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;19822 |
| &nbsp;&nbsp;&nbsp;Series 2024-70P, Class A,<br> 5.487%, 03/10/2041 (D)(K) | 100000 | 100481 |
| JP Morgan Chase Commercial Mortgage Securities Trust, Series 2016-JP2, Class B,<br> 3.460%, 08/15/2049 | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;64141 |
| JPMBB Commercial Mortgage Securities Trust, Series 2014-C22, Class B,<br> 4.658%, 09/15/2047 (K) | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;38148 |
| PRET LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-RN4, Class A1,<br> 5.487%, 10/25/2051 (D)(K) | &nbsp;&nbsp;53513 | &nbsp;&nbsp;&nbsp;53470 |
| &nbsp;&nbsp;&nbsp;Series 2025-RPL1, Class A1 (4.000% to 1-1-29, then 5.000% thereafter),<br> 4.000%, 07/25/2069 (D) | &nbsp;&nbsp;95425 | &nbsp;&nbsp;&nbsp;92341 |
| PRPM LLC, Series 2025-2, Class A1 (6.469% to 5-1-28, then 9.469% to 5-1-29, then 10.469% thereafter),<br> 6.469%, 05/25/2030 (D) | &nbsp;&nbsp;97263 | &nbsp;&nbsp;&nbsp;97153 |
| PRPM Trust, Series 2022-INV1, Class A1 (4.400% to 6-1-26, then 5.400% thereafter),<br> 4.400%, 04/25/2067 (D) | &nbsp;&nbsp;76172 | &nbsp;&nbsp;&nbsp;75977 |
| TPG Real Estate Finance, Series 2025-FL6, Class B (1 month CME Term SOFR + 2.046%),<br> 6.361%, 09/18/2042 (D)(H) | 100000 | &nbsp;&nbsp;&nbsp;99424 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 62 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| Verus Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-5, Class M1,<br> 2.601%, 05/25/2065 (D)(K) | $100000 | $&nbsp;&nbsp;&nbsp;&nbsp;90949 |
| &nbsp;&nbsp;&nbsp;Series 2021-5, Class A1,<br> 1.013%, 09/25/2066 (D)(K) | &nbsp;&nbsp;55003 | &nbsp;&nbsp;&nbsp;&nbsp;47282 |
| &nbsp;&nbsp;&nbsp;Series 2025-1, Class A3 (5.976% to 1-1-29, then 6.976% thereafter),<br> 5.976%, 01/25/2070 (D) | &nbsp;&nbsp;95040 | &nbsp;&nbsp;&nbsp;&nbsp;95541 |
| WBHT Commercial Mortgage Trust, Series 2025-WBM, Class A (1 month CME Term SOFR + 1.742%),<br> 6.057%, 06/15/2042 (D)(H) | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;99789 |
| WSTN Trust, Series 2023-MAUI, Class B,<br> 7.263%, 07/05/2037 (D)(K) | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;30415 |
|  |  | 2553593 |
| **U.S. Government Agency - 3.3%** |  |  |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-DNA6, Class B1 (30 day Average SOFR + 3.000%),<br> 7.305%, 12/25/2050 (D)(H) | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;37354 |
| &nbsp;&nbsp;&nbsp;Series 2021-DNA5, Class B1 (30 day Average SOFR + 3.050%),<br> 7.355%, 01/25/2034 (D)(H) | &nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;96075 |
| &nbsp;&nbsp;&nbsp;Series 2021-DNA6, Class M2 (30 day Average SOFR + 1.500%),<br> 5.805%, 10/25/2041 (D)(H) | 172701 | &nbsp;&nbsp;&nbsp;&nbsp;173355 |
| &nbsp;&nbsp;&nbsp;Series 2021-HQA3, Class M2 (30 day Average SOFR + 2.100%),<br> 6.405%, 09/25/2041 (D)(H) | 190000 | &nbsp;&nbsp;&nbsp;&nbsp;191535 |
| &nbsp;&nbsp;&nbsp;Series 2022-DNA1, Class B1 (30 day Average SOFR + 3.400%),<br> 7.705%, 01/25/2042 (D)(H) | 175000 | &nbsp;&nbsp;&nbsp;&nbsp;180106 |
| &nbsp;&nbsp;&nbsp;Series 2022-DNA5, Class M2 (30 day Average SOFR + 6.750%),<br> 11.055%, 06/25/2042 (D)(H) | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;82472 |
| &nbsp;&nbsp;&nbsp;Series 2022-HQA1, Class M2 (30 day Average SOFR + 5.250%),<br> 9.555%, 03/25/2042 (D)(H) | 470000 | &nbsp;&nbsp;&nbsp;&nbsp;498764 |
| &nbsp;&nbsp;&nbsp;Series 2023-DNA1, Class M2 (30 day Average SOFR + 5.500%),<br> 9.806%, 03/25/2043 (D)(H) | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;38368 |
| &nbsp;&nbsp;&nbsp;Series 2023-DNA2, Class B1 (30 day Average SOFR + 7.600%),<br> 11.906%, 04/25/2043 (D)(H) | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;22656 |
| &nbsp;&nbsp;&nbsp;Series 2024-DNA1, Class M2 (30 day Average SOFR + 1.950%),<br> 6.255%, 02/25/2044 (D)(H) | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;101423 |
| &nbsp;&nbsp;&nbsp;Series 2024-DNA3, Class M2 (30 day Average SOFR + 1.450%),<br> 5.755%, 10/25/2044 (D)(H) | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;70101 |
| &nbsp;&nbsp;&nbsp;Series 2024-MN9, Class M1 (30 day Average SOFR + 2.450%),<br> 6.756%, 10/25/2044 (D)(H) | &nbsp;&nbsp;24884 | &nbsp;&nbsp;&nbsp;&nbsp;24923 |
| &nbsp;&nbsp;&nbsp;Series 2025-DNA1, Class M2 (30 day Average SOFR + 1.350%),<br> 5.655%, 01/25/2045 (D)(H) | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;34957 |
| &nbsp;&nbsp;&nbsp;Series 2025-DNA2, Class A1 (30 day Average SOFR + 1.100%),<br> 5.405%, 05/25/2045 (D)(H) | &nbsp;&nbsp;19250 | &nbsp;&nbsp;&nbsp;&nbsp;19257 |
| &nbsp;&nbsp;&nbsp;Series 2025-HQA1, Class M2 (30 day Average SOFR + 1.650%),<br> 5.955%, 02/25/2045 (D)(H) | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;29944 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Federal Home Loan<br> Mortgage Corp. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-MN10, Class M1 (30 day Average SOFR + 2.050%),<br> 6.355%, 02/25/2045 (D)(H) | $&nbsp;&nbsp;&nbsp;&nbsp;98933 | $&nbsp;&nbsp;&nbsp;97945 |
| &nbsp;&nbsp;&nbsp;Series 324, Class C18 IO,<br> 4.000%, 12/15/2033 | &nbsp;&nbsp;143080 | &nbsp;&nbsp;&nbsp;12400 |
| &nbsp;&nbsp;&nbsp;Series 400, Class C4 IO,<br> 3.000%, 12/25/2052 | &nbsp;&nbsp;126315 | &nbsp;&nbsp;&nbsp;22406 |
| &nbsp;&nbsp;&nbsp;Series 405, Class C17 IO,<br> 2.500%, 08/25/2052 | &nbsp;&nbsp;109839 | &nbsp;&nbsp;&nbsp;16963 |
| &nbsp;&nbsp;&nbsp;Series 4446, Class BI IO,<br> 6.500%, 04/15/2039 | &nbsp;&nbsp;&nbsp;&nbsp;62496 | &nbsp;&nbsp;&nbsp;11816 |
| &nbsp;&nbsp;&nbsp;Series 4975, Class EI IO,<br> 4.500%, 05/25/2050 | &nbsp;&nbsp;105417 | &nbsp;&nbsp;&nbsp;21351 |
| &nbsp;&nbsp;&nbsp;Series 5462, Class S IO,<br> 1.695%, 10/25/2054 | &nbsp;&nbsp;116209 | &nbsp;&nbsp;&nbsp;&nbsp;9086 |
| &nbsp;&nbsp;&nbsp;Series 5510, Class Z,<br> 5.500%, 02/25/2055 | &nbsp;&nbsp;306938 | 294506 |
| &nbsp;&nbsp;&nbsp;Series 5543, Class DZ,<br> 5.000%, 06/25/2055 | &nbsp;&nbsp;190792 | 171269 |
| &nbsp;&nbsp;&nbsp;Series 5548, Class CZ,<br> 5.250%, 06/25/2055 | &nbsp;&nbsp;165718 | 153096 |
| &nbsp;&nbsp;&nbsp;Series K103, Class X1 IO,<br> 0.753%, 11/25/2029 | 1003429 | &nbsp;&nbsp;&nbsp;23989 |
| &nbsp;&nbsp;&nbsp;Series K106, Class X3 IO,<br> 1.974%, 03/25/2048 | &nbsp;&nbsp;490000 | &nbsp;&nbsp;&nbsp;35473 |
| &nbsp;&nbsp;&nbsp;Series K122, Class X1 IO,<br> 0.962%, 11/25/2030 | &nbsp;&nbsp;&nbsp;&nbsp;98093 | &nbsp;&nbsp;&nbsp;&nbsp;3715 |
| &nbsp;&nbsp;&nbsp;Series K129, Class X3 IO,<br> 3.270%, 05/25/2031 | &nbsp;&nbsp;165000 | &nbsp;&nbsp;&nbsp;24927 |
| &nbsp;&nbsp;&nbsp;Series K737, Class X1 IO,<br> 0.725%, 10/25/2026 | &nbsp;&nbsp;428901 | &nbsp;&nbsp;&nbsp;&nbsp;2842 |
| &nbsp;&nbsp;&nbsp;Series K740, Class X3 IO,<br> 2.562%, 11/25/2047 | &nbsp;&nbsp;135000 | &nbsp;&nbsp;&nbsp;&nbsp;6736 |
| &nbsp;&nbsp;&nbsp;Series K742, Class X3, IO,<br> 2.684%, 04/25/2028 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;6584 |
| &nbsp;&nbsp;&nbsp;Series Q014, Class X IO,<br> 2.775%, 10/25/2055 | &nbsp;&nbsp;146548 | &nbsp;&nbsp;&nbsp;21367 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;Series 2016-C03, Class 1B (30 day Average SOFR + 11.864%),<br> 16.170%, 10/25/2028 (H) | &nbsp;&nbsp;&nbsp;&nbsp;29667 | &nbsp;&nbsp;&nbsp;31904 |
| &nbsp;&nbsp;&nbsp;Series 2016-C04, Class 1B (30 day Average SOFR + 10.364%),<br> 14.670%, 01/25/2029 (H) | &nbsp;&nbsp;&nbsp;&nbsp;29501 | &nbsp;&nbsp;&nbsp;31918 |
| &nbsp;&nbsp;&nbsp;Series 2016-C06, Class 1B (30 day Average SOFR + 9.364%),<br> 13.670%, 04/25/2029 (H) | &nbsp;&nbsp;&nbsp;&nbsp;34471 | &nbsp;&nbsp;&nbsp;37423 |
| &nbsp;&nbsp;&nbsp;Series 2021-67, Class IG IO,<br> 3.000%, 10/25/2051 | &nbsp;&nbsp;114294 | &nbsp;&nbsp;&nbsp;18774 |
| &nbsp;&nbsp;&nbsp;Series 2021-R03, Class 1B2 (30 day Average SOFR + 5.500%),<br> 9.805%, 12/25/2041 (D)(H) | &nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;78138 |
| &nbsp;&nbsp;&nbsp;Series 2022-R02, Class 2B1 (30 day Average SOFR + 4.500%),<br> 8.805%, 01/25/2042 (D)(H) | &nbsp;&nbsp;175000 | 182618 |
| &nbsp;&nbsp;&nbsp;Series 2022-R03, Class 1B1 (30 day Average SOFR + 6.250%),<br> 10.555%, 03/25/2042 (D)(H) | &nbsp;&nbsp;&nbsp;&nbsp;69000 | &nbsp;&nbsp;&nbsp;74691 |
| &nbsp;&nbsp;&nbsp;Series 2022-R04, Class 1B1 (30 day Average SOFR + 5.250%),<br> 9.555%, 03/25/2042 (D)(H) | &nbsp;&nbsp;165000 | 175661 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 63 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Federal National<br> Mortgage Association (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-R05, Class 2B1 (30 day Average SOFR + 4.500%),<br> 8.805%, 04/25/2042 (D)(H) | $&nbsp;&nbsp;70000 | $&nbsp;&nbsp;&nbsp;73485 |
| &nbsp;&nbsp;&nbsp;Series 2023-2, Class CI IO,<br> 2.000%, 10/25/2050 | &nbsp;&nbsp;85313 | &nbsp;&nbsp;&nbsp;11035 |
| &nbsp;&nbsp;&nbsp;Series 2023-R01, Class 1B1 (30 day Average SOFR + 5.100%),<br> 9.406%, 12/25/2042 (D)(H) | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;21570 |
| &nbsp;&nbsp;&nbsp;Series 2023-R02, Class 1M2 (30 day Average SOFR + 3.350%),<br> 7.655%, 01/25/2043 (D)(H) | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;41705 |
| &nbsp;&nbsp;&nbsp;Series 2023-R03, Class 2M2 (30 day Average SOFR + 3.900%),<br> 8.205%, 04/25/2043 (D)(H) | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;37220 |
| &nbsp;&nbsp;&nbsp;Series 2023-R05, Class 1M2 (30 day Average SOFR + 3.100%),<br> 7.406%, 06/25/2043 (D)(H) | &nbsp;&nbsp;36000 | &nbsp;&nbsp;&nbsp;37560 |
| &nbsp;&nbsp;&nbsp;Series 2023-R06, Class 1B1 (30 day Average SOFR + 3.900%),<br> 8.205%, 07/25/2043 (D)(H) | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;21121 |
| &nbsp;&nbsp;&nbsp;Series 2023-R06, Class 1M2 (30 day Average SOFR + 2.700%),<br> 7.005%, 07/25/2043 (D)(H) | 110000 | 113541 |
| &nbsp;&nbsp;&nbsp;Series 2023-R08, Class 1B1 (30 day Average SOFR + 3.550%),<br> 7.855%, 10/25/2043 (D)(H) | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;36849 |
| &nbsp;&nbsp;&nbsp;Series 2024-86, Class SA IO,<br> 0.745%, 12/25/2054 | 188498 | &nbsp;&nbsp;&nbsp;&nbsp;6782 |
| &nbsp;&nbsp;&nbsp;Series 2024-R02, Class 1B1 (30 day Average SOFR + 2.500%),<br> 6.805%, 02/25/2044 (D)(H) | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;61009 |
| &nbsp;&nbsp;&nbsp;Series 2024-R04, Class 1M2 (30 day Average SOFR + 1.650%),<br> 5.955%, 05/25/2044 (D)(H) | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;30151 |
| &nbsp;&nbsp;&nbsp;Series 2024-R05, Class 2B1 (30 day Average SOFR + 2.000%),<br> 6.305%, 07/25/2044 (D)(H) | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;35108 |
| &nbsp;&nbsp;&nbsp;Series 2025-22, Class AZ,<br> 5.000%, 04/25/2055 | 182239 | 170215 |
| &nbsp;&nbsp;&nbsp;Series 2025-44, Class ZA,<br> 5.000%, 06/25/2055 | 180750 | 163197 |
| &nbsp;&nbsp;&nbsp;Series 2025-7, Class BZ,<br> 5.500%, 02/25/2055 | 194394 | 185593 |
| &nbsp;&nbsp;&nbsp;Series 2025-7, Class EZ,<br> 5.500%, 02/25/2055 | 276244 | 262571 |
| &nbsp;&nbsp;&nbsp;Series 2025-R01, Class 1B1 (30 day Average SOFR + 1.700%),<br> 6.006%, 01/25/2045 (D)(H) | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;59963 |
| &nbsp;&nbsp;&nbsp;Series 2025-R04, Class 1M2 (30 day Average SOFR + 1.500%),<br> 5.805%, 05/25/2045 (D)(H) | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;30014 |
| &nbsp;&nbsp;&nbsp;Series 410, Class C8 IO,<br> 4.000%, 04/25/2032 | &nbsp;&nbsp;79079 | &nbsp;&nbsp;&nbsp;&nbsp;6382 |
| &nbsp;&nbsp;&nbsp;Series 437, Class C8 IO,<br> 2.500%, 06/25/2052 | 110269 | &nbsp;&nbsp;&nbsp;17309 |
| &nbsp;&nbsp;&nbsp;Series 441, Class C5 IO,<br> 2.000%, 04/25/2052 | &nbsp;&nbsp;93454 | &nbsp;&nbsp;&nbsp;11346 |
| Government National<br> Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;Series 2015-62, Class CI IO,<br> 4.500%, 05/20/2045 | 109434 | &nbsp;&nbsp;&nbsp;24704 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Government National<br> Mortgage Association (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2017-130, Class IO,<br> 4.500%, 02/20/2040 | 110787 | $&nbsp;&nbsp;&nbsp;&nbsp;19521 |
| &nbsp;&nbsp;&nbsp;Series 2018-168, Class AI IO,<br> 5.000%, 12/16/2048 | &nbsp;&nbsp;92386 | &nbsp;&nbsp;&nbsp;&nbsp;19211 |
| &nbsp;&nbsp;&nbsp;Series 2020-146, Class IA IO,<br> 3.500%, 11/20/2041 | 163094 | &nbsp;&nbsp;&nbsp;&nbsp;26607 |
|  |  | 4692657 |
| TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $7,129,856) | TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $7,129,856) | $7246250 |
| **ASSET-BACKED SECURITIES - 2.7%** | **ASSET-BACKED SECURITIES - 2.7%** |  |
| Arbor Realty Commercial Real Estate Notes, Ltd., Series 2021-FL3, Class B (1 month CME Term SOFR + 1.714%),<br> 6.026%, 08/15/2034 (D)(H) | 110000 | &nbsp;&nbsp;&nbsp;&nbsp;109927 |
| Bain Capital Credit CLO, Ltd., Series 2021-3A, Class CR (3 month CME Term SOFR + 1.900%),<br> 6.175%, 07/24/2034 (D)(H) | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;100081 |
| BlueMountain CLO, Ltd., Series 2018-2A, Class D (3 month CME Term SOFR + 3.412%),<br> 7.738%, 08/15/2031 (D)(H) | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;249147 |
| DataBank Issuer, Series 2021-2A, Class A2,<br> 2.400%, 10/25/2051 (D) | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;52904 |
| Domino's Pizza Master Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-1A, Class A2,<br> 3.668%, 10/25/2049 (D) | &nbsp;&nbsp;48000 | &nbsp;&nbsp;&nbsp;&nbsp;45729 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2I,<br> 2.662%, 04/25/2051 (D) | &nbsp;&nbsp;97250 | &nbsp;&nbsp;&nbsp;&nbsp;90738 |
| Flatiron CLO 20, Ltd., Series 2020-1A, Class CR (3 month CME Term SOFR + 2.350%),<br> 6.672%, 05/20/2036 (D)(H) | 150000 | &nbsp;&nbsp;&nbsp;&nbsp;150159 |
| Flatiron CLO 23 LLC, Series 2023-1A, Class CR (3 month CME Term SOFR + 1.800%),<br> 6.111%, 04/17/2036 (D)(H) | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;250000 |
| Greystone Commercial Real Estate Notes, Ltd., Series 2021-FL3, Class B (1 month CME Term SOFR + 1.764%),<br> 6.076%, 07/15/2039 (D)(H) | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;99250 |
| Hertz Vehicle Financing LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-2A, Class C,<br> 2.950%, 06/26/2028 (D) | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;94800 |
| &nbsp;&nbsp;&nbsp;Series 2021-2A, Class C,<br> 2.520%, 12/27/2027 (D) | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;95876 |
| Hilton Grand Vacations Trust, Series 2024-3A, Class B,<br> 5.270%, 08/27/2040 (D) | &nbsp;&nbsp;78050 | &nbsp;&nbsp;&nbsp;&nbsp;78758 |
| Horizon Aircraft Finance I, Ltd., Series 2018-1, Class A,<br> 4.458%, 12/15/2038 (D) | 100313 | &nbsp;&nbsp;&nbsp;&nbsp;95796 |
| Horizon Aircraft Finance II, Ltd., Series 2019-1, Class A,<br> 3.721%, 07/15/2039 (D) | &nbsp;&nbsp;72711 | &nbsp;&nbsp;&nbsp;&nbsp;70237 |
| Lunar Structured Aircraft Portfolio Notes, Series 2021-1, Class A,<br> 2.636%, 10/15/2046 (D) | 178751 | &nbsp;&nbsp;&nbsp;&nbsp;166548 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 64 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET-BACKED SECURITIES (continued)** | **ASSET-BACKED SECURITIES (continued)** |  |
| MAPS Trust, Series 2021-1A, Class A,<br> 2.521%, 06/15/2046 (D) | &nbsp;&nbsp;57332 | $&nbsp;&nbsp;&nbsp;&nbsp;54012 |
| OCP CLO, Ltd., Series 2015-9A, Class D1R3 (3 month CME Term SOFR + 2.500%),<br> 6.756%, 01/15/2037 (D)(H) | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;250282 |
| OneMain Direct Auto Receivables Trust, Series 2025-1A, Class D,<br> 6.100%, 07/14/2037 (D) | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;101518 |
| Palmer Square Loan Funding, Ltd., Series 2025-1A, Class C (3 month CME Term SOFR + 2.250%),<br> 6.571%, 02/15/2033 (D)(H) | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;250797 |
| Progress Residential Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-SFR1, Class E1,<br> 3.930%, 02/17/2041 (D) | 150000 | &nbsp;&nbsp;&nbsp;&nbsp;141101 |
| &nbsp;&nbsp;&nbsp;Series 2022-SFR4, Class C,<br> 4.888%, 05/17/2041 (D) | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;98949 |
| &nbsp;&nbsp;&nbsp;Series 2022-SFR7, Class D,<br> 5.500%, 10/27/2039 (D) | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;99600 |
| &nbsp;&nbsp;&nbsp;Series 2024-SFR3, Class E1,<br> 4.000%, 06/17/2041 (D) | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;93748 |
| &nbsp;&nbsp;&nbsp;Series 2021-SFR9, Class F,<br> 4.053%, 11/17/2040 (D) | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;95576 |
| Start II, Ltd., Series 2019-1, Class A,<br> 4.089%, 03/15/2044 (D) | &nbsp;&nbsp;91685 | &nbsp;&nbsp;&nbsp;&nbsp;90769 |
| Subway Funding LLC, Series 2024-1A, Class A2I,<br> 6.028%, 07/30/2054 (D) | &nbsp;&nbsp;69650 | &nbsp;&nbsp;&nbsp;&nbsp;70827 |
| Switch ABS Issuer LLC, Series 2025-1A, Class A2,<br> 5.036%, 03/25/2055 (D) | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;49321 |
| Symphony CLO XXII, Ltd., Series 2020-22A, Class CR (3 month CME Term SOFR + 2.100%),<br> 6.369%, 04/18/2033 (D)(H) | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;250021 |
| Texas Natural Gas Securitization Finance Corp., Series 2023-1, Class A2,<br> 5.169%, 04/01/2041 | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;50505 |
| VCAT LLC, Series 2025-NPL1, Class A1 (5.877% to 1-25-28, then 8.877% to 1-25-29, then 9.877% thereafter),<br> 5.877%, 01/25/2055 (D) | &nbsp;&nbsp;84700 | &nbsp;&nbsp;&nbsp;&nbsp;84864 |
| VOLT CII LLC, Series 2021-NP11, Class A1 (4.868% to 7-25-25, then 5.868% thereafter),<br> 4.868%, 08/25/2051 (D) | &nbsp;&nbsp;57091 | &nbsp;&nbsp;&nbsp;&nbsp;57003 |
| Willis Engine Structured Trust IV, Series 2018-A, Class A,<br> 4.750%, 09/15/2043 (D) | 143555 | &nbsp;&nbsp;&nbsp;&nbsp;142579 |
| TOTAL ASSET-BACKED SECURITIES (Cost $3,712,125) | TOTAL ASSET-BACKED SECURITIES (Cost $3,712,125) | $3731422 |
| **COMMON STOCKS - 0.0%** | **COMMON STOCKS - 0.0%** |  |
| **France - 0.0%** |  |  |
| Safran SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47 | &nbsp;&nbsp;&nbsp;&nbsp;15245 |
| **Mexico - 0.0%** |  |  |
| Unifin Financiera SAB de CV (L)(M) | &nbsp;&nbsp;27653 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| TOTAL COMMON STOCKS (Cost $81,354) | TOTAL COMMON STOCKS (Cost $81,354) | $&nbsp;&nbsp;&nbsp;&nbsp;15245 |
| **PREFERRED SECURITIES - 1.2%** | **PREFERRED SECURITIES - 1.2%** |  |
| **Bermuda - 0.0%** |  |  |
| Enstar Group, Ltd., 7.000% (7.000% to 9-1-28, then 3 month LIBOR + 4.015%) | &nbsp;&nbsp;&nbsp;2337 | &nbsp;&nbsp;&nbsp;&nbsp;46997 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **PREFERRED SECURITIES (continued)** | **PREFERRED SECURITIES (continued)** |  |
| **United States - 1.2%** |  |  |
| AGNC Investment Corp., 7.750% (7.750% to 10-15-27, then 5 Year CMT + 4.390%) | &nbsp;&nbsp;&nbsp;&nbsp;10000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;248500 |
| AGNC Investment Corp., 9.215% (3 month CME Term SOFR + 4.959%) (H) | &nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251100 |
| Albemarle Corp., 7.250% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3644 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116972 |
| Ares Management Corp., 6.750% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49025 |
| Bank of America Corp., 7.250% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180737 |
| Corebridge Financial, Inc., 6.375% (G) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36731 |
| KKR & Company, Inc., 6.250% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63623 |
| Morgan Stanley, 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25400 |
| Morgan Stanley, 6.625% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73673 |
| Sempra, 5.750% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;537 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11035 |
| Synchrony Financial, 8.250% (8.250% to 5-15-29, then 5 Year CMT + 4.044%) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2859 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71018 |
| The Bank of New York Mellon Corp., 6.150% (6.150% to 3-20-30, then 5 Year CMT + 2.161%) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2073 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53152 |
| The Boeing Company, 6.000% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108800 |
| The Southern Company, 6.500% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84898 |
| U.S. Cellular Corp., 5.500% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1997 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40978 |
| U.S. Cellular Corp., 5.500% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2199 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45101 |
| U.S. Cellular Corp., 6.250% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24315 |
| Wells Fargo & Company, 7.500% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123284 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1608342 |
| TOTAL PREFERRED SECURITIES (Cost $1,583,054) | TOTAL PREFERRED SECURITIES (Cost $1,583,054) | $&nbsp;&nbsp;&nbsp;&nbsp;1655339 |
| **EXCHANGE-TRADED FUNDS - 1.6%** | **EXCHANGE-TRADED FUNDS - 1.6%** |  |
| iShares iBoxx $ High Yield Corporate Bond ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41938 |
| iShares Preferred & Income Securities ETF (G) | &nbsp;&nbsp;&nbsp;&nbsp;72800 | &nbsp;&nbsp;&nbsp;&nbsp;2233504 |
| TOTAL EXCHANGE-TRADED FUNDS (Cost $2,158,191) | TOTAL EXCHANGE-TRADED FUNDS (Cost $2,158,191) | $&nbsp;&nbsp;&nbsp;&nbsp;2275442 |
| **ESCROW CERTIFICATES - 0.0%** |  |  |
| Unifin Financiera SAB de CV (M) | $&nbsp;&nbsp;&nbsp;&nbsp;205000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11890 |
| TOTAL ESCROW CERTIFICATES (Cost $114,614) | TOTAL ESCROW CERTIFICATES (Cost $114,614) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11890 |
| **SHORT-TERM INVESTMENTS - 16.9%** | **SHORT-TERM INVESTMENTS - 16.9%** |  |
| **Short-term funds - 16.9%** |  |  |
| John Hancock Collateral Trust, 4.2596% (N)(O) | &nbsp;&nbsp;&nbsp;&nbsp;332265 | &nbsp;&nbsp;&nbsp;&nbsp;3323447 |
| State Street Institutional U.S. Government Money Market Fund, Premier Class, 4.2560% (N) | 20617451 | &nbsp;&nbsp;&nbsp;20617451 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $23,940,942) | TOTAL SHORT-TERM INVESTMENTS (Cost $23,940,942) | $&nbsp;&nbsp;&nbsp;23940898 |
| **Total Investments (Opportunistic Fixed Income Trust)<br> (Cost $184,562,426) - 130.0%** | **Total Investments (Opportunistic Fixed Income Trust)<br> (Cost $184,562,426) - 130.0%** | $**183861516** |
| **Other assets and liabilities, net - (30.0%)** | **Other assets and liabilities, net - (30.0%)** | &nbsp;&nbsp;**(42433213)** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $**141428303** |
| **SALE COMMITMENTS<br> OUTSTANDING - (6.1%)** |  |  |
| **U.S. Government Agency - (6.1)%** |  |  |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, TBA (B) | $&nbsp;&nbsp;&nbsp;(650000) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(606836) |
| &nbsp;&nbsp;&nbsp;2.500%, TBA (B) | &nbsp;&nbsp;&nbsp;(760000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(630057) |
| &nbsp;&nbsp;&nbsp;3.000%, TBA (B) | &nbsp;&nbsp;&nbsp;(706000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(610470) |
| &nbsp;&nbsp;&nbsp;4.000%, TBA (B) | (1500000) | &nbsp;&nbsp;&nbsp;(1394360) |
| &nbsp;&nbsp;&nbsp;4.500%, TBA (B) | (1525000) | &nbsp;&nbsp;&nbsp;(1515410) |
| &nbsp;&nbsp;&nbsp;5.000%, TBA (B) | &nbsp;&nbsp;&nbsp;&nbsp;(25000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25175) |
| &nbsp;&nbsp;&nbsp;6.500%, TBA (B) | (1220000) | &nbsp;&nbsp;&nbsp;(1259269) |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 65 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **SALE COMMITMENTS<br> OUTSTANDING (continued)** |  |  |
| **U.S. Government Agency (continued)** |  |  |
| Government National<br> Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, TBA (B) | &nbsp;&nbsp;(275000) | &nbsp;&nbsp;&nbsp;&nbsp;(233715) |
| &nbsp;&nbsp;&nbsp;4.000%, TBA (B) | (1125000) | (1045486) |
| &nbsp;&nbsp;&nbsp;4.500%, TBA (B) | &nbsp;&nbsp;(500000) | &nbsp;&nbsp;&nbsp;&nbsp;(478384) |
| &nbsp;&nbsp;&nbsp;6.000%, TBA (B) | &nbsp;&nbsp;(750000) | &nbsp;&nbsp;&nbsp;&nbsp;(760502) |
| TOTAL SALE COMMITMENTS OUTSTANDING (Proceeds received $8,465,097) | TOTAL SALE COMMITMENTS OUTSTANDING (Proceeds received $8,465,097) | $(8559664) |

---

---

| | |
|:---|:---|
| <u>Currency Abbreviations</u> | <u>Currency Abbreviations</u> |
| ARS | Argentine Peso |
| AUD | Australian Dollar |
| BRL | Brazilian Real |
| CAD | Canadian Dollar |
| CLP | Chilean Peso |
| COP | Colombian Peso |
| CZK | Czech Republic Koruna |
| EUR | Euro |
| GBP | Pound Sterling |
| HKD | Hong Kong Dollar |
| HUF | Hungarian Forint |
| IDR | Indonesian Rupiah |
| INR | Indian Rupee |
| ISK | Icelandic Krona |
| JPY | Japanese Yen |
| MXN | Mexican Peso |
| MYR | Malaysian Ringgit |
| NOK | Norwegian Krone |
| NZD | New Zealand Dollar |
| PEN | Peruvian Nuevo Sol |
| PLN | Polish Zloty |
| RON | Romanian New Leu |
| THB | Thai Bhat |
| TRY | Turkish Lira |
| UYU | Uruguayan Peso |
| ZAR | South African Rand |
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| CME | CME Group Published Rates |
| CMT | Constant Maturity Treasury |
| EURIBOR | Euro Interbank Offered Rate |

---

---

| | |
|:---|:---|
| ICE | Intercontinental Exchange |
| IO | Interest-Only Security - (Interest Tranche of Stripped Mortgage Pool). Rate shown is the annualized yield at the end of the period. |
| LIBOR | London Interbank Offered Rate |
| PIK | Pay-in-Kind Security - Represents a payment-in-kind which may pay interest in additional par and/or cash. Rates shown are the current rate and most recent payment rate. |
| SOFR | Secured Overnight Financing Rate |
| TBA | To Be Announced. A forward mortgage-backed securities trade issued by a U.S. Government Agency, to be delivered at an agreed-upon future settlement date. |
| (A) | All or a portion of this security is segregated at the custodian as collateral for certain derivatives. |
| (B) | Security purchased or sold on a when-issued or delayed-delivery basis. |
| (C) | Zero coupon bonds are issued at a discount from their principal amount in lieu of paying interest periodically. Rate shown is the effective yield at period end. |
| (D) | This security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. Rule 144A securities amounted to $31,560,591 or 22.3% of the fund's net assets as of 6-30-25. |
| (E) | Non-income producing - Issuer is in default. |
| (F) | Perpetual bonds have no stated maturity date. Date shown as maturity date is next call date. |
| (G) | All or a portion of this security is on loan as of 6-30-25. |
| (H) | Variable rate obligation. The coupon rate shown represents the rate at period end. |
| (I) | Term loans are variable rate obligations. The rate shown represents the rate at period end. |
| (J) | This position represents an unsettled loan commitment at period end. Certain details associated with this purchase are not known prior to the settlement date, including coupon rate, which is disclosed as TBD (To Be Determined). |
| (K) | Variable or floating rate security, the interest rate of which adjusts periodically based on a weighted average of interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of period end. |
| (L) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements. |
| (M) | Non-income producing security. |
| (N) | The rate shown is the annualized seven-day yield as of 6-30-25. |
| (O) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |

---

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| 10-Year Australian Treasury Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;39 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;$2918298 | &nbsp;&nbsp;&nbsp;&nbsp;$2942031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$23733 |
| 10-Year Canada Government Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;56 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4985958 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5017074 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31116 |
| 10-Year U.S. Treasury Note Futures | &nbsp;&nbsp;&nbsp;&nbsp;91 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;10046785 | &nbsp;&nbsp;&nbsp;&nbsp;10203381 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156596 |
| 2-Year U.S. Treasury Note Futures | &nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2080257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2080234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23) |
| 5-Year U.S. Treasury Note Futures | &nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7058051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7085000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26949 |
| German Euro BOBL Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;835101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;831727 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3374) |
| German Euro BUND Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1079411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1073172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6239) |
| Ultra 10-Year U.S. Treasury Note Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;341057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;342797 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1740 |
| Ultra U.S. Treasury Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;26 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2997718 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3097250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99532 |
| 10-Year Korea Treasury Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;22 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1925415) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1930542) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5127) |
| Euro-BTP Italian Government Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;56 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7971037) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7981794) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10757) |
| Euro-Buxl Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(574977) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(559479) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15498 |
| Euro-OAT Futures | &nbsp;&nbsp;&nbsp;&nbsp;38 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5576997) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5543342) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33655 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 66 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued) FUTURES (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)**  |
| U.K. Long Gilt Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(639388) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(638488) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$900 |
| U.S. Treasury Long Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(781286) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(808281) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(26995) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$337204** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

#### FORWARD FOREIGN CURRENCY CONTRACTS

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Contract to buy** | **Contract to buy** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Counterparty (OTC)** | &nbsp;&nbsp;**Contractual<br> settlement<br> date** | &nbsp;&nbsp;**Unrealized<br> appreciation** | &nbsp;&nbsp;**Unrealized<br> depreciation** |
| AUD | &nbsp;&nbsp;833000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;541898 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;$6631 | &nbsp;&nbsp;— |
| AUD | &nbsp;&nbsp;433000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;282711 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;2418 | &nbsp;&nbsp;— |
| AUD | &nbsp;&nbsp;2084100 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1353257 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;19119 | &nbsp;&nbsp;— |
| AUD | &nbsp;&nbsp;409000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;267039 | &nbsp;&nbsp;SCB | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;2287 | &nbsp;&nbsp;— |
| BRL | &nbsp;&nbsp;61733000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;11247446 | &nbsp;&nbsp;DB | &nbsp;&nbsp;7/2/2025 | &nbsp;&nbsp;114927 | &nbsp;&nbsp;— |
| BRL | &nbsp;&nbsp;51758000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;9433831 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;7/2/2025 | &nbsp;&nbsp;92590 | &nbsp;&nbsp;— |
| BRL | &nbsp;&nbsp;9975000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1810831 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;7/2/2025 | &nbsp;&nbsp;25138 | &nbsp;&nbsp;— |
| BRL | &nbsp;&nbsp;8513000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1537920 | &nbsp;&nbsp;DB | &nbsp;&nbsp;8/4/2025 | &nbsp;&nbsp;16853 | &nbsp;&nbsp;— |
| BRL | &nbsp;&nbsp;155000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;27415 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;9/3/2025 | &nbsp;&nbsp;678 | &nbsp;&nbsp;— |
| BRL | &nbsp;&nbsp;40000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;6898 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;9/3/2025 | &nbsp;&nbsp;352 | &nbsp;&nbsp;— |
| BRL | &nbsp;&nbsp;350000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;61694 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;9/3/2025 | &nbsp;&nbsp;1743 | &nbsp;&nbsp;— |
| BRL | &nbsp;&nbsp;30000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;5177 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;9/3/2025 | &nbsp;&nbsp;260 | &nbsp;&nbsp;— |
| CAD | &nbsp;&nbsp;1495000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1092471 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;6976 | &nbsp;&nbsp;— |
| CHF | &nbsp;&nbsp;15000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;18455 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;519 | &nbsp;&nbsp;— |
| CLP | &nbsp;&nbsp;314843000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;331581 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;6375 | &nbsp;&nbsp;— |
| CLP | &nbsp;&nbsp;1623000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1735 | &nbsp;&nbsp;BOA | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;6 | &nbsp;&nbsp;— |
| CLP | &nbsp;&nbsp;48274000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;51634 | &nbsp;&nbsp;DB | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;175 | &nbsp;&nbsp;— |
| CNY | &nbsp;&nbsp;243000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;34137 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;10 | &nbsp;&nbsp;— |
| CNY | &nbsp;&nbsp;1363000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;191200 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;331 | &nbsp;&nbsp;— |
| COP | &nbsp;&nbsp;6225532000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1521726 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;$(3606) |
| COP | &nbsp;&nbsp;3156598000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;776913 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(7165) |
| COP | &nbsp;&nbsp;206700000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;49857 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;206 | &nbsp;&nbsp;— |
| COP | &nbsp;&nbsp;421300000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;101984 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;56 | &nbsp;&nbsp;— |
| CZK | &nbsp;&nbsp;42040000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1995822 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;8758 | &nbsp;&nbsp;— |
| CZK | &nbsp;&nbsp;14940000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;700537 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;11842 | &nbsp;&nbsp;— |
| CZK | &nbsp;&nbsp;960000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;45171 | &nbsp;&nbsp;DB | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;672 | &nbsp;&nbsp;— |
| CZK | &nbsp;&nbsp;6592000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;305155 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;9636 | &nbsp;&nbsp;— |
| EGP | &nbsp;&nbsp;2240000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;42537 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;8/14/2025 | &nbsp;&nbsp;1917 | &nbsp;&nbsp;— |
| EGP | &nbsp;&nbsp;2930000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;57553 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(155) |
| EGP | &nbsp;&nbsp;697000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;12469 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;10/27/2025 | &nbsp;&nbsp;958 | &nbsp;&nbsp;— |
| EGP | &nbsp;&nbsp;2290000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;38840 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/8/2026 | &nbsp;&nbsp;3927 | &nbsp;&nbsp;— |
| EGP | &nbsp;&nbsp;2380000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;40325 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;1/8/2026 | &nbsp;&nbsp;4122 | &nbsp;&nbsp;— |
| EGP | &nbsp;&nbsp;1049000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;18102 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/26/2026 | &nbsp;&nbsp;1356 | &nbsp;&nbsp;— |
| EGP | &nbsp;&nbsp;1928000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;33293 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/27/2026 | &nbsp;&nbsp;2456 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;1455600 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1681138 | &nbsp;&nbsp;DB | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;36773 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;91000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;105131 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;2268 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;101000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;118666 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;535 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;63000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;72366 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;2222 | &nbsp;&nbsp;— |
| GBP | &nbsp;&nbsp;1131300 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1518643 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;34434 | &nbsp;&nbsp;— |
| HKD | &nbsp;&nbsp;100000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;12785 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) |
| HKD | &nbsp;&nbsp;200000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;25557 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) |
| HUF | &nbsp;&nbsp;536882000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1533007 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;47133 | &nbsp;&nbsp;— |
| HUF | &nbsp;&nbsp;16500000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;46930 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;1509 | &nbsp;&nbsp;— |
| HUF | &nbsp;&nbsp;19800000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;56177 | &nbsp;&nbsp;DB | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;1951 | &nbsp;&nbsp;— |
| HUF | &nbsp;&nbsp;29560000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;83975 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;2805 | &nbsp;&nbsp;— |
| HUF | &nbsp;&nbsp;63108000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;178991 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;6277 | &nbsp;&nbsp;— |
| IDR | &nbsp;&nbsp;14765504000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;898254 | &nbsp;&nbsp;DB | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;14323 | &nbsp;&nbsp;— |
| IDR | &nbsp;&nbsp;3161278000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;193649 | &nbsp;&nbsp;DB | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;1564 | &nbsp;&nbsp;— |
| INR | &nbsp;&nbsp;26910000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;313198 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;385 | &nbsp;&nbsp;— |
| INR | &nbsp;&nbsp;4270000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;49767 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(122) |
| INR | &nbsp;&nbsp;3940000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;45788 | &nbsp;&nbsp;DB | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;20 | &nbsp;&nbsp;— |
| INR | &nbsp;&nbsp;8407000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;97752 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9) |
| JPY | &nbsp;&nbsp;47000000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;326387 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;1050 | &nbsp;&nbsp;— |
| JPY | &nbsp;&nbsp;84300000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;581415 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;5882 | &nbsp;&nbsp;— |
| JPY | &nbsp;&nbsp;84488000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;583714 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;4893 | &nbsp;&nbsp;— |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 67 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued) FORWARD FOREIGN CURRENCY CONTRACTS (continued)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Contract to buy** | **Contract to buy** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Counterparty (OTC)** | &nbsp;&nbsp;**Contractual<br> settlement<br> date** | &nbsp;&nbsp;**Unrealized<br> appreciation** | &nbsp;&nbsp;**Unrealized<br> depreciation** |
| KRW | &nbsp;&nbsp;2019313000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1478267 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;$16758 | &nbsp;&nbsp;— |
| KRW | &nbsp;&nbsp;38930000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;28787 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;122 | &nbsp;&nbsp;— |
| KRW | &nbsp;&nbsp;116560000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;86086 | &nbsp;&nbsp;DB | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;470 | &nbsp;&nbsp;— |
| KZT | &nbsp;&nbsp;22100000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;41269 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;7/10/2025 | &nbsp;&nbsp;1158 | &nbsp;&nbsp;— |
| KZT | &nbsp;&nbsp;18100000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;34319 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;8/13/2025 | &nbsp;&nbsp;85 | &nbsp;&nbsp;— |
| KZT | &nbsp;&nbsp;49100000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;93666 | &nbsp;&nbsp;BOA | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(1364) |
| MXN | &nbsp;&nbsp;3957000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;206753 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;3491 | &nbsp;&nbsp;— |
| MXN | &nbsp;&nbsp;6430000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;339742 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;1897 | &nbsp;&nbsp;— |
| MXN | &nbsp;&nbsp;270000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;14184 | &nbsp;&nbsp;BOA | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;88 | &nbsp;&nbsp;— |
| MXN | &nbsp;&nbsp;540000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;28128 | &nbsp;&nbsp;DB | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;418 | &nbsp;&nbsp;— |
| MXN | &nbsp;&nbsp;6919000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;359012 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;6741 | &nbsp;&nbsp;— |
| MYR | &nbsp;&nbsp;1116000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;264716 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;840 | &nbsp;&nbsp;— |
| NGN | &nbsp;&nbsp;67457000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;42029 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;8/6/2025 | &nbsp;&nbsp;982 | &nbsp;&nbsp;— |
| NGN | &nbsp;&nbsp;38885000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;24092 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;124 | &nbsp;&nbsp;— |
| NOK | &nbsp;&nbsp;14976000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1488752 | &nbsp;&nbsp;BOA | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2702) |
| NZD | &nbsp;&nbsp;1630000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;977800 | &nbsp;&nbsp;SCB | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;16684 | &nbsp;&nbsp;— |
| PEN | &nbsp;&nbsp;433000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;118848 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;3122 | &nbsp;&nbsp;— |
| PEN | &nbsp;&nbsp;80000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;22554 | &nbsp;&nbsp;DB | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19) |
| PHP | &nbsp;&nbsp;25669000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;446010 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;9512 | &nbsp;&nbsp;— |
| PLN | &nbsp;&nbsp;320000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;88314 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;406 | &nbsp;&nbsp;— |
| PLN | &nbsp;&nbsp;205000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;54854 | &nbsp;&nbsp;DB | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;1919 | &nbsp;&nbsp;— |
| PLN | &nbsp;&nbsp;35000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;9623 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;70 | &nbsp;&nbsp;— |
| PLN | &nbsp;&nbsp;1637000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;436947 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;16403 | &nbsp;&nbsp;— |
| RON | &nbsp;&nbsp;422000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;94974 | &nbsp;&nbsp;DB | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;2410 | &nbsp;&nbsp;— |
| RSD | &nbsp;&nbsp;6748000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;65773 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;2070 | &nbsp;&nbsp;— |
| SGD | &nbsp;&nbsp;15000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;11704 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;118 | &nbsp;&nbsp;— |
| SGD | &nbsp;&nbsp;45000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;35269 | &nbsp;&nbsp;DB | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;320 | &nbsp;&nbsp;— |
| THB | &nbsp;&nbsp;15554000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;478717 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;2514 | &nbsp;&nbsp;— |
| THB | &nbsp;&nbsp;810000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;24961 | &nbsp;&nbsp;DB | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;99 | &nbsp;&nbsp;— |
| TRY | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;47585 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;7/18/2025 | &nbsp;&nbsp;1992 | &nbsp;&nbsp;— |
| TRY | &nbsp;&nbsp;9167000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;221942 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;2960 | &nbsp;&nbsp;— |
| TRY | &nbsp;&nbsp;1785000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;41302 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;577 | &nbsp;&nbsp;— |
| TRY | &nbsp;&nbsp;4146000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;95581 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;1693 | &nbsp;&nbsp;— |
| TRY | &nbsp;&nbsp;2510000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;45324 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;4/27/2026 | &nbsp;&nbsp;4052 | &nbsp;&nbsp;— |
| TRY | &nbsp;&nbsp;24005000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;430077 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;4/28/2026 | &nbsp;&nbsp;41797 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;485301 | &nbsp;&nbsp;AUD | &nbsp;&nbsp;746000 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5938) |
| USD | &nbsp;&nbsp;253527 | &nbsp;&nbsp;AUD | &nbsp;&nbsp;389000 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2628) |
| USD | &nbsp;&nbsp;7299704 | &nbsp;&nbsp;AUD | &nbsp;&nbsp;11242000 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;(103129) |
| USD | &nbsp;&nbsp;238964 | &nbsp;&nbsp;AUD | &nbsp;&nbsp;366000 | &nbsp;&nbsp;SCB | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2047) |
| USD | &nbsp;&nbsp;29394 | &nbsp;&nbsp;AUD | &nbsp;&nbsp;45000 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(269) |
| USD | &nbsp;&nbsp;11302026 | &nbsp;&nbsp;BRL | &nbsp;&nbsp;61733000 | &nbsp;&nbsp;DB | &nbsp;&nbsp;7/2/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(60364) |
| USD | &nbsp;&nbsp;9133594 | &nbsp;&nbsp;BRL | &nbsp;&nbsp;51758000 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;7/2/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;(392813) |
| USD | &nbsp;&nbsp;1769360 | &nbsp;&nbsp;BRL | &nbsp;&nbsp;9975000 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;7/2/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(66608) |
| USD | &nbsp;&nbsp;9614481 | &nbsp;&nbsp;BRL | &nbsp;&nbsp;53220000 | &nbsp;&nbsp;DB | &nbsp;&nbsp;8/4/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;(105356) |
| USD | &nbsp;&nbsp;60353 | &nbsp;&nbsp;BRL | &nbsp;&nbsp;335000 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;8/4/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(829) |
| USD | &nbsp;&nbsp;205056 | &nbsp;&nbsp;BRL | &nbsp;&nbsp;1161000 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;9/3/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5369) |
| USD | &nbsp;&nbsp;99115 | &nbsp;&nbsp;BRL | &nbsp;&nbsp;552000 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;9/3/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(932) |
| USD | &nbsp;&nbsp;185820 | &nbsp;&nbsp;BRL | &nbsp;&nbsp;1074000 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;9/3/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8837) |
| USD | &nbsp;&nbsp;667906 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;914000 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4265) |
| USD | &nbsp;&nbsp;36698 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;50000 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(161) |
| USD | &nbsp;&nbsp;32979 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;45000 | &nbsp;&nbsp;SCB | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(194) |
| USD | &nbsp;&nbsp;1496054 | &nbsp;&nbsp;CHF | &nbsp;&nbsp;1216000 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(42086) |
| USD | &nbsp;&nbsp;50552 | &nbsp;&nbsp;CLP | &nbsp;&nbsp;48000000 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(972) |
| USD | &nbsp;&nbsp;359958 | &nbsp;&nbsp;CNY | &nbsp;&nbsp;2577000 | &nbsp;&nbsp;BOA | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(837) |
| USD | &nbsp;&nbsp;46631 | &nbsp;&nbsp;CNY | &nbsp;&nbsp;333000 | &nbsp;&nbsp;DB | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(162) |
| USD | &nbsp;&nbsp;34224 | &nbsp;&nbsp;CNY | &nbsp;&nbsp;244000 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(63) |
| USD | &nbsp;&nbsp;4950740 | &nbsp;&nbsp;COP | &nbsp;&nbsp;20253971000 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;11731 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;482540 | &nbsp;&nbsp;COP | &nbsp;&nbsp;1960558000 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;4450 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;166858 | &nbsp;&nbsp;COP | &nbsp;&nbsp;708205000 | &nbsp;&nbsp;BOA | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4671) |
| USD | &nbsp;&nbsp;1668623 | &nbsp;&nbsp;CZK | &nbsp;&nbsp;36069000 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(51244) |
| USD | &nbsp;&nbsp;37040 | &nbsp;&nbsp;CZK | &nbsp;&nbsp;800000 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1162) |
| USD | &nbsp;&nbsp;28443 | &nbsp;&nbsp;EGP | &nbsp;&nbsp;1460000 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;8/14/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(531) |
| USD | &nbsp;&nbsp;15105 | &nbsp;&nbsp;EGP | &nbsp;&nbsp;780000 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;8/14/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(375) |
| USD | &nbsp;&nbsp;4651 | &nbsp;&nbsp;EGP | &nbsp;&nbsp;240000 | &nbsp;&nbsp;BOA | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(51) |
| USD | &nbsp;&nbsp;13035 | &nbsp;&nbsp;EGP | &nbsp;&nbsp;697000 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;10/27/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(392) |
| USD | &nbsp;&nbsp;5978 | &nbsp;&nbsp;EGP | &nbsp;&nbsp;330000 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;1/8/2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(185) |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 68 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued) FORWARD FOREIGN CURRENCY CONTRACTS (continued)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Contract to buy** | **Contract to buy** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Counterparty (OTC)** | &nbsp;&nbsp;**Contractual<br> settlement<br> date** | &nbsp;&nbsp;**Unrealized<br> appreciation** | &nbsp;&nbsp;**Unrealized<br> depreciation** |
| USD | &nbsp;&nbsp;6558224 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;5678386 | &nbsp;&nbsp;DB | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(143454) |
| USD | &nbsp;&nbsp;418564 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;359000 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5131) |
| USD | &nbsp;&nbsp;3113289 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;2652000 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16623) |
| USD | &nbsp;&nbsp;27565 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;24000 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(850) |
| USD | &nbsp;&nbsp;425596 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;370000 | &nbsp;&nbsp;DB | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12463) |
| USD | &nbsp;&nbsp;20983 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;18000 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(328) |
| USD | &nbsp;&nbsp;3232470 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;2408000 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(73294) |
| USD | &nbsp;&nbsp;70195 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;52000 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1218) |
| USD | &nbsp;&nbsp;35722 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;26000 | &nbsp;&nbsp;DB | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;$16 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;24931 | &nbsp;&nbsp;HKD | &nbsp;&nbsp;195000 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;16 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;626951 | &nbsp;&nbsp;HUF | &nbsp;&nbsp;218800000 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17015) |
| USD | &nbsp;&nbsp;101749 | &nbsp;&nbsp;HUF | &nbsp;&nbsp;34837000 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(523) |
| USD | &nbsp;&nbsp;1201849 | &nbsp;&nbsp;IDR | &nbsp;&nbsp;19756000000 | &nbsp;&nbsp;DB | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19164) |
| USD | &nbsp;&nbsp;68921 | &nbsp;&nbsp;IDR | &nbsp;&nbsp;1139000000 | &nbsp;&nbsp;DB | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1414) |
| USD | &nbsp;&nbsp;36132 | &nbsp;&nbsp;IDR | &nbsp;&nbsp;593895000 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(542) |
| USD | &nbsp;&nbsp;350288 | &nbsp;&nbsp;ILS | &nbsp;&nbsp;1220000 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11968) |
| USD | &nbsp;&nbsp;793714 | &nbsp;&nbsp;INR | &nbsp;&nbsp;68861000 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8726) |
| USD | &nbsp;&nbsp;44993 | &nbsp;&nbsp;INR | &nbsp;&nbsp;3920000 | &nbsp;&nbsp;DB | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(583) |
| USD | &nbsp;&nbsp;17358 | &nbsp;&nbsp;INR | &nbsp;&nbsp;1500000 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(81) |
| USD | &nbsp;&nbsp;836732 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;121112000 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7024) |
| USD | &nbsp;&nbsp;6945 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21) |
| USD | &nbsp;&nbsp;115210 | &nbsp;&nbsp;KRW | &nbsp;&nbsp;155490000 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(254) |
| USD | &nbsp;&nbsp;31731 | &nbsp;&nbsp;KZT | &nbsp;&nbsp;16600000 | &nbsp;&nbsp;DB | &nbsp;&nbsp;7/10/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(137) |
| USD | &nbsp;&nbsp;34092 | &nbsp;&nbsp;KZT | &nbsp;&nbsp;17900000 | &nbsp;&nbsp;DB | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;442 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;935200 | &nbsp;&nbsp;MXN | &nbsp;&nbsp;17881000 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14856) |
| USD | &nbsp;&nbsp;27164 | &nbsp;&nbsp;MXN | &nbsp;&nbsp;520000 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(324) |
| USD | &nbsp;&nbsp;10524 | &nbsp;&nbsp;MXN | &nbsp;&nbsp;200000 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(48) |
| USD | &nbsp;&nbsp;599253 | &nbsp;&nbsp;MYR | &nbsp;&nbsp;2550000 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6359) |
| USD | &nbsp;&nbsp;37783 | &nbsp;&nbsp;MYR | &nbsp;&nbsp;160000 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(290) |
| USD | &nbsp;&nbsp;12932637 | &nbsp;&nbsp;NOK | &nbsp;&nbsp;130095000 | &nbsp;&nbsp;BOA | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;23470 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;8447468 | &nbsp;&nbsp;NZD | &nbsp;&nbsp;14082000 | &nbsp;&nbsp;SCB | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(144141) |
| USD | &nbsp;&nbsp;27255 | &nbsp;&nbsp;NZD | &nbsp;&nbsp;45000 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(245) |
| USD | &nbsp;&nbsp;55528 | &nbsp;&nbsp;PEN | &nbsp;&nbsp;200000 | &nbsp;&nbsp;SCB | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(891) |
| USD | &nbsp;&nbsp;141130 | &nbsp;&nbsp;PEN | &nbsp;&nbsp;507000 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1684) |
| USD | &nbsp;&nbsp;1708954 | &nbsp;&nbsp;PLN | &nbsp;&nbsp;6377000 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(59065) |
| USD | &nbsp;&nbsp;165593 | &nbsp;&nbsp;PLN | &nbsp;&nbsp;618000 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5555) |
| USD | &nbsp;&nbsp;98912 | &nbsp;&nbsp;RON | &nbsp;&nbsp;435000 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1800) |
| USD | &nbsp;&nbsp;7484 | &nbsp;&nbsp;RSD | &nbsp;&nbsp;762000 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(178) |
| USD | &nbsp;&nbsp;1056557 | &nbsp;&nbsp;SEK | &nbsp;&nbsp;10165000 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19881) |
| USD | &nbsp;&nbsp;441994 | &nbsp;&nbsp;SEK | &nbsp;&nbsp;4220000 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4889) |
| USD | &nbsp;&nbsp;1499686 | &nbsp;&nbsp;SGD | &nbsp;&nbsp;1922000 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15153) |
| USD | &nbsp;&nbsp;3934 | &nbsp;&nbsp;SGD | &nbsp;&nbsp;5000 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) |
| USD | &nbsp;&nbsp;78424 | &nbsp;&nbsp;SGD | &nbsp;&nbsp;100000 | &nbsp;&nbsp;BOA | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(663) |
| USD | &nbsp;&nbsp;938225 | &nbsp;&nbsp;THB | &nbsp;&nbsp;30740000 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9364) |
| USD | &nbsp;&nbsp;49098 | &nbsp;&nbsp;TRY | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;7/18/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(479) |
| USD | &nbsp;&nbsp;562178 | &nbsp;&nbsp;TRY | &nbsp;&nbsp;24005000 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;7/28/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(28158) |
| USD | &nbsp;&nbsp;46848 | &nbsp;&nbsp;TRY | &nbsp;&nbsp;1935000 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(625) |
| USD | &nbsp;&nbsp;81765 | &nbsp;&nbsp;TRY | &nbsp;&nbsp;3520000 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(821) |
| USD | &nbsp;&nbsp;3124 | &nbsp;&nbsp;TRY | &nbsp;&nbsp;135000 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(44) |
| USD | &nbsp;&nbsp;8299 | &nbsp;&nbsp;UYU | &nbsp;&nbsp;360000 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;7/23/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(697) |
| USD | &nbsp;&nbsp;4393 | &nbsp;&nbsp;UYU | &nbsp;&nbsp;180000 | &nbsp;&nbsp;DB | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(99) |
| USD | &nbsp;&nbsp;1037010 | &nbsp;&nbsp;ZAR | &nbsp;&nbsp;18780000 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21500) |
| USD | &nbsp;&nbsp;200497 | &nbsp;&nbsp;ZAR | &nbsp;&nbsp;3574000 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(257) |
| UYU | &nbsp;&nbsp;360000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;8039 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;7/23/2025 | &nbsp;&nbsp;956 | &nbsp;&nbsp;— |
| ZAR | &nbsp;&nbsp;18900000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1043636 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;21638 | &nbsp;&nbsp;— |
|  |  |  |  |  |  | &nbsp;&nbsp;**$711929** | &nbsp;&nbsp;**$(1536509)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

#### SWAPS

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** |
| **Counterparty (OTC)/<br> Centrally cleared** | **Notional<br> amount** | **Currency** | **Payments<br> made** | **Payments<br> received** | **Fixed<br> payment<br> frequency** | **Floating<br> payment<br> frequency** | **Maturity<br> date** | **Unamortized<br> upfront<br> payment paid<br> (received)** | **Unrealized<br> appreciation<br> (depreciation)** | **Value** |
| Centrally cleared | 41500000 | NOK | NOK NIBOR NIBR | Fixed 4.340% | Annual | Semi-Annual | Jun 2027 | $(811) | $31337 | $30526 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 69 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Interest rate swaps (continued)** | **Interest rate swaps (continued)** | **Interest rate swaps (continued)** | **Interest rate swaps (continued)** | **Interest rate swaps (continued)** | **Interest rate swaps (continued)** | **Interest rate swaps (continued)** | **Interest rate swaps (continued)** | **Interest rate swaps (continued)** | **Interest rate swaps (continued)** | **Interest rate swaps (continued)** |
| **Counterparty (OTC)/<br> Centrally cleared** | **Notional<br> amount** | **Currency** | **Payments<br> made** | **Payments<br> received** | **Fixed<br> payment<br> frequency** | **Floating<br> payment<br> frequency** | **Maturity<br> date** | **Unamortized<br> upfront<br> payment paid<br> (received)** | **Unrealized<br> appreciation<br> (depreciation)** | **Value** |
| Centrally cleared | &nbsp;&nbsp;&nbsp;9355000 | CNY | Fixed 2.468% | CNY CNREPOFIX Reuters | Quarterly | Quarterly | Sep 2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;$(41292) | &nbsp;&nbsp;$(41292) |
| Centrally cleared | &nbsp;&nbsp;15265000 | CNY | Fixed 2.467% | CNY CNREPOFIX Reuters | Quarterly | Quarterly | Sep 2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(67290) | &nbsp;&nbsp;&nbsp;(67290) |
| Centrally cleared | &nbsp;&nbsp;12020000 | CNY | Fixed 2.400% | CNY CNREPOFIX Reuters | Quarterly | Quarterly | Sep 2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(49041) | &nbsp;&nbsp;&nbsp;(49041) |
| Centrally cleared | &nbsp;&nbsp;12025000 | CNY | Fixed 2.362% | CNY CNREPOFIX Reuters | Quarterly | Quarterly | Sep 2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(47034) | &nbsp;&nbsp;&nbsp;(47034) |
| Centrally cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450000 | USD | Fixed 3.704% | USD Compounded SOFR | Annual | Annual | May 2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(4900) | &nbsp;&nbsp;&nbsp;&nbsp;(4900) |
| Centrally cleared | &nbsp;&nbsp;23960000 | CNY | Fixed 2.010% | CNY CNREPOFIX Reuters | Quarterly | Quarterly | Sep 2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(72632) | &nbsp;&nbsp;&nbsp;(72632) |
| Centrally cleared | &nbsp;&nbsp;11025000 | CNY | Fixed 1.753% | CNY CNREPOFIX Reuters | Quarterly | Quarterly | Sep 2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(17413) | &nbsp;&nbsp;&nbsp;(17413) |
| Centrally cleared | 141490000 | INR | Fixed 6.055% | INR MIBOR Compounded OIS | Semi-Annual | Semi-Annual | Mar 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(24482) | &nbsp;&nbsp;&nbsp;(24482) |
| Centrally cleared | 227800000 | INR | Fixed 6.033% | INR MIBOR Compounded OIS | Semi-Annual | Semi-Annual | Mar 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(37023) | &nbsp;&nbsp;&nbsp;(37023) |
| Centrally cleared | 144590000 | INR | Fixed 5.952% | INR MIBOR Compounded OIS | Semi-Annual | Semi-Annual | Mar 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(17973) | &nbsp;&nbsp;&nbsp;(17973) |
| Centrally cleared | &nbsp;&nbsp;21340000 | CNY | Fixed 1.573% | CNY CNREPOFIX Reuters | Quarterly | Quarterly | Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(13107) | &nbsp;&nbsp;&nbsp;(13107) |
| Centrally cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;840000 | CHF | Fixed 0.885% | CHF SARON Compounded OIS | Annual | Annual | Sep 2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(3446) | &nbsp;&nbsp;&nbsp;&nbsp;(3446) |
| Centrally cleared | &nbsp;&nbsp;&nbsp;1240000 | CHF | Fixed 0.785% | CHF SARON Compounded OIS | Annual | Annual | Dec 2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5151 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5151 |
| Centrally cleared | &nbsp;&nbsp;&nbsp;2120000 | SGD | Fixed 2.414% | SGD SORA Compounded OIS | Semi-Annual | Semi-Annual | Jun 2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(66613) | &nbsp;&nbsp;&nbsp;(66613) |
| Centrally cleared | &nbsp;&nbsp;&nbsp;9205000 | THB | Fixed 1.738% | THB THOR Compounded OIS | Quarterly | Quarterly | Sep 2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(3550) | &nbsp;&nbsp;&nbsp;&nbsp;(3550) |
| Centrally cleared | &nbsp;&nbsp;30025000 | THB | Fixed 1.738% | THB THOR Compounded OIS | Quarterly | Quarterly | Sep 2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(11581) | &nbsp;&nbsp;&nbsp;(11581) |
| Centrally cleared | &nbsp;&nbsp;&nbsp;6135000 | THB | Fixed 1.770% | THB THOR Compounded OIS | Quarterly | Quarterly | Sep 2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(2925) | &nbsp;&nbsp;&nbsp;&nbsp;(2925) |
| Centrally cleared | &nbsp;&nbsp;20015000 | THB | Fixed 1.770% | THB THOR Compounded OIS | Quarterly | Quarterly | Sep 2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(9543) | &nbsp;&nbsp;&nbsp;&nbsp;(9543) |
| Centrally cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;920000 | ILS | Fixed 4.342% | ILS SHIR Compounded OIS | Annual | Annual | Sep 2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(7175) | &nbsp;&nbsp;&nbsp;&nbsp;(7175) |
| Centrally cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | SGD | Fixed 2.061% | SGD SORA Compounded OIS | Semi-Annual | Semi-Annual | Sep 2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(2858) | &nbsp;&nbsp;&nbsp;&nbsp;(2858) |
| Centrally cleared | &nbsp;&nbsp;&nbsp;1150000 | CHF | Fixed 0.800% | CHF SARON Compounded OIS | Annual | Annual | Sep 2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;10184 | &nbsp;&nbsp;&nbsp;&nbsp;10184 |
| Centrally cleared | &nbsp;&nbsp;&nbsp;6530000 | SEK | Fixed 2.590% | SEK STIBOR SIDE | Annual | Quarterly | Sep 2055 | $6409 | &nbsp;&nbsp;&nbsp;&nbsp;(2551) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3858 |
|  |  |  |  |  |  |  |  | **$5598** | **$(455757)** | **$(450159)** |

---

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** |
| **Counterparty<br> (OTC)/<br> Centrally<br> cleared** | &nbsp;&nbsp;**Reference<br> obligation** | &nbsp;&nbsp;**Notional<br> amount** | &nbsp;&nbsp;**Currency** | &nbsp;&nbsp;**USD<br> notional<br> amount** | &nbsp;&nbsp;**Pay<br> fixed<br> rate** | &nbsp;&nbsp;**Fixed<br> payment<br> frequency** | &nbsp;&nbsp;**Maturity<br> date** | &nbsp;&nbsp;**Unamortized<br> upfront<br> payment<br> paid<br> (received)** | &nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** | &nbsp;&nbsp;**Value** |
| BARC | &nbsp;&nbsp;Federative Republic of Brazil | &nbsp;&nbsp;&nbsp;&nbsp;555000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;$555000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;$21373 | &nbsp;&nbsp;$(9606) | &nbsp;&nbsp;$11767 |
| BARC | &nbsp;&nbsp;Federative Republic of Brazil | &nbsp;&nbsp;&nbsp;&nbsp;275000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;275000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;7583 | &nbsp;&nbsp;&nbsp;(1752) | &nbsp;&nbsp;&nbsp;&nbsp;5831 |
| BARC | &nbsp;&nbsp;Federative Republic of Brazil | &nbsp;&nbsp;&nbsp;&nbsp;275000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;275000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;7423 | &nbsp;&nbsp;&nbsp;(1592) | &nbsp;&nbsp;&nbsp;&nbsp;5831 |
| BARC | &nbsp;&nbsp;Federative Republic of Brazil | &nbsp;&nbsp;&nbsp;&nbsp;275000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;275000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;7078 | &nbsp;&nbsp;&nbsp;(1247) | &nbsp;&nbsp;&nbsp;&nbsp;5831 |
| BARC | &nbsp;&nbsp;Federative Republic of Brazil | &nbsp;&nbsp;&nbsp;&nbsp;275000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;275000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;6042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(211) | &nbsp;&nbsp;&nbsp;&nbsp;5831 |
| BARC | &nbsp;&nbsp;People's Republic of China | &nbsp;&nbsp;1830000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1830000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;(38798) | &nbsp;&nbsp;&nbsp;(2736) | &nbsp;&nbsp;(41534) |
| BARC | &nbsp;&nbsp;Petroleo Brasileiro SA | &nbsp;&nbsp;&nbsp;&nbsp;275000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;275000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;9397 | &nbsp;&nbsp;&nbsp;(2306) | &nbsp;&nbsp;&nbsp;&nbsp;7091 |
| BARC | &nbsp;&nbsp;Petroleo Brasileiro SA | &nbsp;&nbsp;&nbsp;&nbsp;275000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;275000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;8923 | &nbsp;&nbsp;&nbsp;(1832) | &nbsp;&nbsp;&nbsp;&nbsp;7091 |
| BARC | &nbsp;&nbsp;Petroleo Brasileiro SA | &nbsp;&nbsp;&nbsp;&nbsp;275000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;275000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;8813 | &nbsp;&nbsp;&nbsp;(1722) | &nbsp;&nbsp;&nbsp;&nbsp;7091 |
| BARC | &nbsp;&nbsp;Petroleo Brasileiro SA | &nbsp;&nbsp;&nbsp;&nbsp;275000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;275000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;8485 | &nbsp;&nbsp;&nbsp;(1394) | &nbsp;&nbsp;&nbsp;&nbsp;7091 |
| BARC | &nbsp;&nbsp;Petroleo Brasileiro SA | &nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;7442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(222) | &nbsp;&nbsp;&nbsp;&nbsp;7220 |
| BARC | &nbsp;&nbsp;Petroleo Brasileiro SA | &nbsp;&nbsp;&nbsp;&nbsp;275000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;275000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;6964 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(84) | &nbsp;&nbsp;&nbsp;&nbsp;6880 |
| BARC | &nbsp;&nbsp;Republic of Chile | &nbsp;&nbsp;&nbsp;&nbsp;525000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;525000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;(9294) | &nbsp;&nbsp;&nbsp;(1938) | &nbsp;&nbsp;(11232) |
| BARC | &nbsp;&nbsp;Republic of Chile | &nbsp;&nbsp;&nbsp;&nbsp;260000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;260000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;(5093) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(470) | &nbsp;&nbsp;&nbsp;&nbsp;(5563) |
| BARC | &nbsp;&nbsp;Republic of Chile | &nbsp;&nbsp;&nbsp;&nbsp;260000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;260000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;(5146) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(417) | &nbsp;&nbsp;&nbsp;&nbsp;(5563) |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 70 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Credit default swaps - Buyer (continued)** | **Credit default swaps - Buyer (continued)** | **Credit default swaps - Buyer (continued)** | **Credit default swaps - Buyer (continued)** | **Credit default swaps - Buyer (continued)** | **Credit default swaps - Buyer (continued)** | **Credit default swaps - Buyer (continued)** | **Credit default swaps - Buyer (continued)** | **Credit default swaps - Buyer (continued)** | **Credit default swaps - Buyer (continued)** | **Credit default swaps - Buyer (continued)** |
| **Counterparty<br> (OTC)/<br> Centrally<br> cleared** | &nbsp;&nbsp;**Reference<br> obligation** | &nbsp;&nbsp;**Notional<br> amount** | &nbsp;&nbsp;**Currency** | &nbsp;&nbsp;**USD<br> notional<br> amount** | &nbsp;&nbsp;**Pay<br> fixed<br> rate** | &nbsp;&nbsp;**Fixed<br> payment<br> frequency** | &nbsp;&nbsp;**Maturity<br> date** | &nbsp;&nbsp;**Unamortized<br> upfront<br> payment<br> paid<br> (received)** | &nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)**  | &nbsp;&nbsp;**Value** |
| BARC | &nbsp;&nbsp;Republic of Colombia | &nbsp;&nbsp;&nbsp;&nbsp;285000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$285000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;$15201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(458) | &nbsp;&nbsp;&nbsp;$14743 |
| BARC | &nbsp;&nbsp;Republic of Indonesia | &nbsp;&nbsp;&nbsp;&nbsp;265000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1995) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(756) | &nbsp;&nbsp;&nbsp;&nbsp;(2751) |
| BARC | &nbsp;&nbsp;Republic of Indonesia | &nbsp;&nbsp;&nbsp;&nbsp;265000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2292) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(459) | &nbsp;&nbsp;&nbsp;&nbsp;(2751) |
| BARC | &nbsp;&nbsp;Republic of Panama | &nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;11752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(915) | &nbsp;&nbsp;&nbsp;&nbsp;10837 |
| BARC | &nbsp;&nbsp;Republic of Panama | &nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;11577 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(740) | &nbsp;&nbsp;&nbsp;&nbsp;10837 |
| BARC | &nbsp;&nbsp;Republic of Panama | &nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;10585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252 | &nbsp;&nbsp;&nbsp;&nbsp;10837 |
| BARC | &nbsp;&nbsp;Republic of Peru | &nbsp;&nbsp;&nbsp;&nbsp;265000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1235) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(982) | &nbsp;&nbsp;&nbsp;&nbsp;(2217) |
| BARC | &nbsp;&nbsp;Republic of Peru | &nbsp;&nbsp;&nbsp;&nbsp;265000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2134) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(83) | &nbsp;&nbsp;&nbsp;&nbsp;(2217) |
| BARC | &nbsp;&nbsp;Republic of South Africa | &nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;10631 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22) | &nbsp;&nbsp;&nbsp;&nbsp;10609 |
| BARC | &nbsp;&nbsp;United Mexican States | &nbsp;&nbsp;1615000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;1615000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;12083 | &nbsp;&nbsp;&nbsp;&nbsp;(7476) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4607 |
| BARC | &nbsp;&nbsp;United Mexican States | &nbsp;&nbsp;&nbsp;&nbsp;270000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;539 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;770 |
| BOA | &nbsp;&nbsp;Federative Republic of Brazil | &nbsp;&nbsp;&nbsp;&nbsp;275000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6093 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(262) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5831 |
| BOA | &nbsp;&nbsp;Petroleo Brasileiro SA | &nbsp;&nbsp;&nbsp;&nbsp;560000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;22793 | &nbsp;&nbsp;&nbsp;&nbsp;(8352) | &nbsp;&nbsp;&nbsp;&nbsp;14441 |
| BOA | &nbsp;&nbsp;Petroleo Brasileiro SA | &nbsp;&nbsp;&nbsp;&nbsp;275000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(480) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7091 |
| BOA | &nbsp;&nbsp;Republic of Chile | &nbsp;&nbsp;&nbsp;&nbsp;260000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4905) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(658) | &nbsp;&nbsp;&nbsp;&nbsp;(5563) |
| BOA | &nbsp;&nbsp;Republic of Colombia | &nbsp;&nbsp;&nbsp;&nbsp;285000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;14675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68 | &nbsp;&nbsp;&nbsp;&nbsp;14743 |
| BOA | &nbsp;&nbsp;Republic of Colombia | &nbsp;&nbsp;&nbsp;&nbsp;285000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;15111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(368) | &nbsp;&nbsp;&nbsp;&nbsp;14743 |
| BOA | &nbsp;&nbsp;Republic of Indonesia | &nbsp;&nbsp;&nbsp;&nbsp;265000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1996) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(755) | &nbsp;&nbsp;&nbsp;&nbsp;(2751) |
| BOA | &nbsp;&nbsp;Republic of Indonesia | &nbsp;&nbsp;&nbsp;&nbsp;265000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2473) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(278) | &nbsp;&nbsp;&nbsp;&nbsp;(2751) |
| BOA | &nbsp;&nbsp;Republic of Panama | &nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;12605 | &nbsp;&nbsp;&nbsp;&nbsp;(1768) | &nbsp;&nbsp;&nbsp;&nbsp;10837 |
| BOA | &nbsp;&nbsp;Republic of Panama | &nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;12171 | &nbsp;&nbsp;&nbsp;&nbsp;(1334) | &nbsp;&nbsp;&nbsp;&nbsp;10837 |
| CITI | &nbsp;&nbsp;Barclays PLC | &nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103256 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;374 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(339) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 |
| DB | &nbsp;&nbsp;Republic of Colombia | &nbsp;&nbsp;&nbsp;&nbsp;285000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;15364 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(621) | &nbsp;&nbsp;&nbsp;&nbsp;14743 |
| DB | &nbsp;&nbsp;Republic of Peru | &nbsp;&nbsp;&nbsp;&nbsp;265000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2319) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102 | &nbsp;&nbsp;&nbsp;&nbsp;(2217) |
| GSI | &nbsp;&nbsp;Emirate of Abu Dhabi | &nbsp;&nbsp;2080000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;2080000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;(60174) | &nbsp;&nbsp;&nbsp;&nbsp;(1732) | &nbsp;&nbsp;&nbsp;(61906) |
| GSI | &nbsp;&nbsp;Federative Republic of Brazil | &nbsp;&nbsp;&nbsp;&nbsp;275000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7767 | &nbsp;&nbsp;&nbsp;&nbsp;(1936) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5831 |
| GSI | &nbsp;&nbsp;Federative Republic of Brazil | &nbsp;&nbsp;&nbsp;&nbsp;275000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7529 | &nbsp;&nbsp;&nbsp;&nbsp;(1698) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5831 |
| GSI | &nbsp;&nbsp;Government of Malaysia | &nbsp;&nbsp;1570000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;1570000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;(32389) | &nbsp;&nbsp;&nbsp;&nbsp;(6832) | &nbsp;&nbsp;&nbsp;(39221) |
| GSI | &nbsp;&nbsp;Republic of Indonesia | &nbsp;&nbsp;&nbsp;&nbsp;265000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2595) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(156) | &nbsp;&nbsp;&nbsp;&nbsp;(2751) |
| GSI | &nbsp;&nbsp;Societe Generale SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16309 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(75) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111 |
| GSI | &nbsp;&nbsp;State of Qatar | &nbsp;&nbsp;2855000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;2855000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;(83912) | &nbsp;&nbsp;&nbsp;&nbsp;(2596) | &nbsp;&nbsp;&nbsp;(86508) |
| JPM | &nbsp;&nbsp;People's Republic of China | &nbsp;&nbsp;&nbsp;&nbsp;265000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6340) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp;&nbsp;(6015) |
| JPM | &nbsp;&nbsp;Republic of Indonesia | &nbsp;&nbsp;&nbsp;&nbsp;795000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;795000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5812) | &nbsp;&nbsp;&nbsp;&nbsp;(2440) | &nbsp;&nbsp;&nbsp;&nbsp;(8252) |
| JPM | &nbsp;&nbsp;Republic of South Africa | &nbsp;&nbsp;&nbsp;&nbsp;560000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;25757 | &nbsp;&nbsp;&nbsp;&nbsp;(4538) | &nbsp;&nbsp;&nbsp;&nbsp;21219 |
| MSI | &nbsp;&nbsp;Federative Republic of Brazil | &nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;10172 | &nbsp;&nbsp;&nbsp;&nbsp;(4235) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5937 |
| MSI | &nbsp;&nbsp;Republic of Chile | &nbsp;&nbsp;&nbsp;&nbsp;260000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5037) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(526) | &nbsp;&nbsp;&nbsp;&nbsp;(5563) |
| MSI | &nbsp;&nbsp;Republic of Chile | &nbsp;&nbsp;&nbsp;&nbsp;265000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5619) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(50) | &nbsp;&nbsp;&nbsp;&nbsp;(5669) |
| MSI | &nbsp;&nbsp;Republic of Chile | &nbsp;&nbsp;&nbsp;&nbsp;265000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5523) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(146) | &nbsp;&nbsp;&nbsp;&nbsp;(5669) |
| MSI | &nbsp;&nbsp;Republic of Colombia | &nbsp;&nbsp;&nbsp;&nbsp;285000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;15430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(687) | &nbsp;&nbsp;&nbsp;&nbsp;14743 |
| MSI | &nbsp;&nbsp;Republic of Colombia | &nbsp;&nbsp;&nbsp;&nbsp;285000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;15447 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(704) | &nbsp;&nbsp;&nbsp;&nbsp;14743 |
| MSI | &nbsp;&nbsp;Republic of Panama | &nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;12110 | &nbsp;&nbsp;&nbsp;&nbsp;(1273) | &nbsp;&nbsp;&nbsp;&nbsp;10837 |
| MSI | &nbsp;&nbsp;Republic of Panama | &nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;11549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(712) | &nbsp;&nbsp;&nbsp;&nbsp;10837 |
| MSI | &nbsp;&nbsp;Republic of Panama | &nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;10697 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp;&nbsp;10837 |
| MSI | &nbsp;&nbsp;Republic of Peru | &nbsp;&nbsp;&nbsp;&nbsp;265000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2609) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;392 | &nbsp;&nbsp;&nbsp;&nbsp;(2217) |
| MSI | &nbsp;&nbsp;Republic of South Africa | &nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;12837 | &nbsp;&nbsp;&nbsp;&nbsp;(2228) | &nbsp;&nbsp;&nbsp;&nbsp;10609 |
| MSI | &nbsp;&nbsp;Republic of South Africa | &nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;12506 | &nbsp;&nbsp;&nbsp;&nbsp;(1897) | &nbsp;&nbsp;&nbsp;&nbsp;10609 |
| MSI | &nbsp;&nbsp;Republic of South Africa | &nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;12636 | &nbsp;&nbsp;&nbsp;&nbsp;(2027) | &nbsp;&nbsp;&nbsp;&nbsp;10609 |
| MSI | &nbsp;&nbsp;Republic of South Africa | &nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;11880 | &nbsp;&nbsp;&nbsp;&nbsp;(1271) | &nbsp;&nbsp;&nbsp;&nbsp;10609 |
| MSI | &nbsp;&nbsp;Republic of South Africa | &nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;11126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(517) | &nbsp;&nbsp;&nbsp;&nbsp;10609 |
| MSI | &nbsp;&nbsp;Republic of South Africa | &nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;10564 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45 | &nbsp;&nbsp;&nbsp;&nbsp;10609 |
| MSI | &nbsp;&nbsp;United Mexican States | &nbsp;&nbsp;&nbsp;&nbsp;270000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2142 | &nbsp;&nbsp;&nbsp;&nbsp;(1372) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;770 |
| MSI | &nbsp;&nbsp;United Mexican States | &nbsp;&nbsp;&nbsp;&nbsp;270000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2498 | &nbsp;&nbsp;&nbsp;&nbsp;(1728) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;770 |
|  |  |  |  | &nbsp;&nbsp;**$28139565** |  |  |  | &nbsp;&nbsp;**$183791** | &nbsp;&nbsp;**$(94456)** | &nbsp;&nbsp;&nbsp;**$89335** |
| Centrally cleared | &nbsp;&nbsp;CDX.EM.42 | &nbsp;&nbsp;8325000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;8325000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2029 | &nbsp;&nbsp;&nbsp;186681 | &nbsp;&nbsp;&nbsp;(64398) | &nbsp;&nbsp;&nbsp;122283 |
| Centrally cleared | &nbsp;&nbsp;CDX.NA.HY.44 | &nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;5.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;(51870) | &nbsp;&nbsp;&nbsp;&nbsp;(5601) | &nbsp;&nbsp;&nbsp;(57471) |
| Centrally cleared | &nbsp;&nbsp;CDX.NA.IG.44 | &nbsp;&nbsp;2100000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;2100000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;(44597) | &nbsp;&nbsp;&nbsp;&nbsp;(2553) | &nbsp;&nbsp;&nbsp;(47150) |
| Centrally cleared | &nbsp;&nbsp;iTraxx Europe Crossover Series 43 Version 1 | &nbsp;&nbsp;2175000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;2480112 | &nbsp;&nbsp;5.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;(214813) | &nbsp;&nbsp;&nbsp;(27936) | &nbsp;&nbsp;(242749) |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 71 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Credit default swaps - Buyer (continued)** | **Credit default swaps - Buyer (continued)** | **Credit default swaps - Buyer (continued)** | **Credit default swaps - Buyer (continued)** | **Credit default swaps - Buyer (continued)** | **Credit default swaps - Buyer (continued)** | **Credit default swaps - Buyer (continued)** | **Credit default swaps - Buyer (continued)** | **Credit default swaps - Buyer (continued)** | **Credit default swaps - Buyer (continued)** | **Credit default swaps - Buyer (continued)** |
| **Counterparty<br> (OTC)/<br> Centrally<br> cleared** | &nbsp;&nbsp;**Reference<br> obligation** | &nbsp;&nbsp;**Notional<br> amount** | &nbsp;&nbsp;**Currency** | &nbsp;&nbsp;**USD<br> notional<br> amount** | &nbsp;&nbsp;**Pay<br> fixed<br> rate** | &nbsp;&nbsp;**Fixed<br> payment<br> frequency** | &nbsp;&nbsp;**Maturity<br> date** | &nbsp;&nbsp;**Unamortized<br> upfront<br> payment<br> paid<br> (received)** | &nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)**  | &nbsp;&nbsp;**Value** |
| Centrally cleared | &nbsp;&nbsp;iTraxx Europe Senior Financials Series 43 Version 1 | &nbsp;&nbsp;1870000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;2105526 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;$(38122) | &nbsp;&nbsp;&nbsp;&nbsp;$(5160) | &nbsp;&nbsp;&nbsp;$(43282) |
| Centrally cleared | &nbsp;&nbsp;iTraxx Europe Series 43 Version 1 | &nbsp;&nbsp;&nbsp;&nbsp;940000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;1051860 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;(21425) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2577) | &nbsp;&nbsp;&nbsp;&nbsp;(24002) |
| Centrally cleared | &nbsp;&nbsp;iTraxx Europe Sub Financials Series 43 Version 1 | &nbsp;&nbsp;1410000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;1621232 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2878) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188 |
|  |  |  |  | &nbsp;&nbsp;**$18433730** |  |  |  | &nbsp;&nbsp;**$(181080)** | &nbsp;&nbsp;**$(111103)** | &nbsp;&nbsp;**$(292183)** |
|  |  |  |  | &nbsp;&nbsp;**$46573295** |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$2711** | &nbsp;&nbsp;**$(205559)** | &nbsp;&nbsp;**$(202848)** |

---

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** |
| **Counterparty<br> (OTC)/<br> Centrally<br> cleared** | **Reference<br> obligation** | **Implied<br> credit<br> spread** | **Notional<br> amount** | **Currency** | **USD<br> notional<br> amount** | **Received<br> fixed<br> rate** | **Fixed<br> payment<br> frequency** | **Maturity<br> date** | **Unamortized<br> upfront<br> payment<br> paid<br> (received)** | **Unrealized<br> appreciation<br> (depreciation)** | **Value** |
| BOA | Anglo American PLC | 0.626% | 260000 | EUR | $284869 | 5.000% | Quarterly | Dec 2028 | $31236 | $14161 | &nbsp;&nbsp;&nbsp;$45397 |
| BOA | Anglo American PLC | 0.626% | 260000 | EUR | &nbsp;&nbsp;&nbsp;285675 | 5.000% | Quarterly | Dec 2028 | &nbsp;&nbsp;&nbsp;31127 | &nbsp;&nbsp;&nbsp;14270 | &nbsp;&nbsp;&nbsp;&nbsp;45397 |
| CITI | Danske Bank AS | 0.967% | 100000 | EUR | &nbsp;&nbsp;&nbsp;103630 | 1.000% | Quarterly | Dec 2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 |
| GSI | Lloyds Banking Group PLC | 1.043% | &nbsp;&nbsp;&nbsp;15000 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;16273 | 1.000% | Quarterly | Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;(146) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30) |
|  |  |  |  |  | **$690447** |  |  |  | **$62217** | **$28747** | &nbsp;&nbsp;&nbsp;**$90964** |
| Centrally cleared | CDX.NA.HY.44 | 3.186% | 299625 | USD | &nbsp;&nbsp;&nbsp;299625 | 5.000% | Quarterly | Jun 2030 | &nbsp;&nbsp;&nbsp;15219 | &nbsp;&nbsp;&nbsp;&nbsp;7741 | &nbsp;&nbsp;&nbsp;&nbsp;22960 |
|  |  |  |  |  | **$299625** |  |  |  | **$15219** | &nbsp;&nbsp;&nbsp;**$7741** | &nbsp;&nbsp;&nbsp;**$22960** |
|  |  |  |  |  | **$990072** |  |  |  | **$77436** | **$36488** | **$113924** |

---

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Total return swaps** | **Total return swaps** | **Total return swaps** | **Total return swaps** | **Total return swaps** | **Total return swaps** | **Total return swaps** | **Total return swaps** | **Total return swaps** | **Total return swaps** | **Total return swaps** |
| **Pay/<br> receive<br> total<br> return\*** | &nbsp;&nbsp;**Reference<br> entity** | &nbsp;&nbsp;**Floating/<br> fixed<br> rate** | &nbsp;&nbsp;**Payment<br> frequency** | &nbsp;&nbsp;**Currency** | &nbsp;&nbsp;**Notional<br> amount** | &nbsp;&nbsp;**Maturity<br> date** | &nbsp;&nbsp;**Counterparty<br> (OTC)** | &nbsp;&nbsp;**Unamortized<br> upfront<br> payment paid<br> (received)** | &nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** | &nbsp;&nbsp;**Value** |
| Pay | &nbsp;&nbsp;iBoxx $ Liquid High Yield Index | &nbsp;&nbsp;1-Day USD Compounded SOFR | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;USD | &nbsp;&nbsp;2900000 | &nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;— | &nbsp;&nbsp;$(110189) | &nbsp;&nbsp;$(110189) |
| Pay | &nbsp;&nbsp;iBoxx $ Liquid High Yield Index | &nbsp;&nbsp;1-Day USD Compounded SOFR | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;USD | &nbsp;&nbsp;2315000 | &nbsp;&nbsp;Dec 2025 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;— | &nbsp;&nbsp;(33685) | &nbsp;&nbsp;(33685) |
| Pay | &nbsp;&nbsp;iBoxx $ Liquid High Yield Index | &nbsp;&nbsp;1-Day USD Compounded SOFR | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;USD | &nbsp;&nbsp;1420000 | &nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;— | &nbsp;&nbsp;(55367) | &nbsp;&nbsp;(55367) |
| Pay | &nbsp;&nbsp;iBoxx $ Liquid High Yield Index | &nbsp;&nbsp;1-Day USD Compounded SOFR | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;USD | &nbsp;&nbsp;2790000 | &nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;— | &nbsp;&nbsp;(96419) | &nbsp;&nbsp;(96419) |
| Pay | &nbsp;&nbsp;iBoxx $ Liquid High Yield Index | &nbsp;&nbsp;1-Day USD Compounded SOFR | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;USD | &nbsp;&nbsp;2780000 | &nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;— | &nbsp;&nbsp;(97411) | &nbsp;&nbsp;(97411) |
| Pay | &nbsp;&nbsp;iBoxx $ Liquid High Yield Index | &nbsp;&nbsp;1-Day USD Compounded SOFR | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;535000 | &nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;— | &nbsp;&nbsp;(13317) | &nbsp;&nbsp;(13317) |
| Pay | &nbsp;&nbsp;iBoxx $ Liquid High Yield Index | &nbsp;&nbsp;1-Day USD Compounded SOFR | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;USD | &nbsp;&nbsp;2780000 | &nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;— | &nbsp;&nbsp;(71206) | &nbsp;&nbsp;(71206) |
| Pay | &nbsp;&nbsp;iBoxx $ Liquid Investment Grade Index | &nbsp;&nbsp;1-Day USD Compounded SOFR | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;USD | &nbsp;&nbsp;2140000 | &nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;— | &nbsp;&nbsp;(34563) | &nbsp;&nbsp;(34563) |
| Pay | &nbsp;&nbsp;iBoxx $ Liquid Investment Grade Index | &nbsp;&nbsp;1-Day USD Compounded SOFR | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;USD | &nbsp;&nbsp;2145000 | &nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;— | &nbsp;&nbsp;(50006) | &nbsp;&nbsp;(50006) |
| Pay | &nbsp;&nbsp;iBoxx $ Liquid Leveraged Loan Index | &nbsp;&nbsp;1-Day USD Compounded SOFR | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;USD | &nbsp;&nbsp;2810000 | &nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;— | &nbsp;&nbsp;(72003) | &nbsp;&nbsp;(72003) |
| Pay | &nbsp;&nbsp;iBoxx $ Liquid High Yield Index | &nbsp;&nbsp;1-Day USD Compounded SOFR | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;USD | &nbsp;&nbsp;3845000 | &nbsp;&nbsp;Dec 2025 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;— | &nbsp;&nbsp;(58674) | &nbsp;&nbsp;(58674) |
| Pay | &nbsp;&nbsp;iBoxx $ Liquid Leveraged Loan Index | &nbsp;&nbsp;1-Day USD Compounded SOFR | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;USD | &nbsp;&nbsp;6650000 | &nbsp;&nbsp;Dec 2025 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;— | &nbsp;&nbsp;(49415) | &nbsp;&nbsp;(49415) |
|  |  |  |  |  |  |  |  | &nbsp;&nbsp;**—** | &nbsp;&nbsp;**$(742255)** | &nbsp;&nbsp;**$(742255)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

\* Fund will pay or receive the total return of the reference asset depending on whether the return is positive or negative. For contracts where the fund has elected to receive the total return of the reference asset if positive, it will be responsible for paying the floating rate and the total return of the reference asset if negative. If the fund has elected to pay the total return of the reference asset if positive, it will receive the floating rate and the total return of the reference asset if negative. The total return of the reference asset is paid out at maturity while the floating rate is paid on a quarterly basis until maturity.

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 72 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Inflation swaps** | **Inflation swaps** | **Inflation swaps** | **Inflation swaps** | **Inflation swaps** | **Inflation swaps** | **Inflation swaps** | **Inflation swaps** | **Inflation swaps** | **Inflation swaps** | **Inflation swaps** | **Inflation swaps** |
| **Counterparty (OTC)/<br> Centrally<br> cleared** | **Notional<br> amount** | **Currency** | **USD notional<br> amount** | **Payments<br> made** | **Payments<br> received** | **Fixed<br> payment<br> frequency** | **Floating<br> payment<br> frequency** | **Maturity date** | **Unamortized<br> upfront<br> payment paid<br> (received)** | **Unrealized<br> appreciation<br> (depreciation)** | **Value** |
| BOA | 210000 | USD | $210000 | Fixed 1.635% | USA CPI All Urban Consumers | At Maturity | At Maturity | Feb 2050 |  | $47970 | $47970 |
| JPM | 1700000 | USD | 1700000 | Fixed 1.830% | USA CPI All Urban Consumers | At Maturity | At Maturity | Feb 2050 | $(36335) | 362763 | 326428 |
|  |  |  | **$1910000** |  |  |  |  |  | **$(36335)** | **$410733** | **$374398** |

---

---

| | |
|:---|:---|
| <u>Derivatives Currency Abbreviations</u> | <u>Derivatives Currency Abbreviations</u> |
| AUD | Australian Dollar |
| BRL | Brazilian Real |
| CAD | Canadian Dollar |
| CHF | Swiss Franc |
| CLP | Chilean Peso |
| CNY | Chinese Yuan Renminbi |
| COP | Colombian Peso |
| CZK | Czech Republic Koruna |
| EGP | Egyptian Pound |
| EUR | Euro |
| GBP | Pound Sterling |
| HKD | Hong Kong Dollar |
| HUF | Hungarian Forint |
| IDR | Indonesian Rupiah |
| ILS | Israeli New Shekel |
| INR | Indian Rupee |
| JPY | Japanese Yen |
| KRW | Korean Won |
| KZT | Kazakhstan Tenge |
| MXN | Mexican Peso |
| MYR | Malaysian Ringgit |
| NOK | Norwegian Krone |
| NZD | New Zealand Dollar |
| PEN | Peruvian Nuevo Sol |
| PHP | Philippine Peso |
| PLN | Polish Zloty |
| RON | Romanian New Leu |
| SEK | Swedish Krona |
| SGD | Singapore Dollar |
| THB | Thai Bhat |
| TRY | Turkish Lira |
| USD | U.S. Dollar |
| UYU | Uruguayan Peso |
| ZAR | South African Rand |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 73 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | |
|:---|:---|
| <u>Derivatives Abbreviations</u> | <u>Derivatives Abbreviations</u> |
| BARC | Barclays Bank PLC |
| BOA | Bank of America, N.A. |
| CITI | Citibank, N.A. |
| CNREPOFIX | China Fixing Repo Rate |
| CPI | Consumer Price Index |
| DB | Deutsche Bank AG |
| GSI | Goldman Sachs International |
| HSBC | HSBC Bank PLC |
| JPM | JPMorgan Chase Bank, N.A. |
| MIBOR | Mumbai Interbank Offered Rate |
| MSI | Morgan Stanley & Co. International PLC |
| NIBOR | Norwegian Interbank Offered Rate |
| OIS | Overnight Index Swap |
| OTC | Over-the-counter |
| SARON | Swiss Average Rate Overnight |
| SCB | Standard Chartered Bank |
| SHIR | Shekel Overnight Interest Rate |
| SOFR | Secured Overnight Financing Rate |
| SORA | Singapore Overnight Rate Average |
| SSB | State Street Bank and Trust Company |
| STIBOR | Stockholm Interbank Offered Rate |
| THOR | Thai Overnight Repurchase Rate |

---

&nbsp;&nbsp;&nbsp;&nbsp;

See Notes to financial statements regarding investment transactions and other derivatives information.

#### Select Bond Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY OBLIGATIONS –<br> 56.3%** | **U.S. GOVERNMENT AND AGENCY OBLIGATIONS –<br> 56.3%** |  |
| **U.S. Government – 17.7%** |  |  |
| U.S. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;1.375%, 08/15/2050 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145252000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71616045 |
| &nbsp;&nbsp;&nbsp;1.625%, 11/15/2050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29040000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15299316 |
| &nbsp;&nbsp;&nbsp;2.500%, 02/15/2045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60927000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42891656 |
| &nbsp;&nbsp;&nbsp;3.375%, 11/15/2048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41623000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32926069 |
| &nbsp;&nbsp;&nbsp;4.000%, 11/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170759000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155784237 |
| &nbsp;&nbsp;&nbsp;4.625%, 11/15/2044 to 02/15/2055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117858000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114769244 |
| &nbsp;&nbsp;&nbsp;4.750%, 11/15/2043 to 02/15/2045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13239000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13210876 |
| U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 06/30/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127341000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127828477 |
| &nbsp;&nbsp;&nbsp;4.000%, 01/31/2031 to 06/30/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219049000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219453729 |
| &nbsp;&nbsp;&nbsp;4.125%, 07/31/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11428000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11559243 |
| &nbsp;&nbsp;&nbsp;4.250%, 06/30/2031 to 05/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173855000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175987178 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;981326070 |
| **U.S. Government Agency – 38.6%** |  |  |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, 06/01/2036 to 03/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64674624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53401982 |
| &nbsp;&nbsp;&nbsp;2.500%, 08/01/2051 to 12/01/2051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32507190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27404271 |
| &nbsp;&nbsp;&nbsp;3.000%, 03/01/2043 to 06/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103539972 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91851541 |
| &nbsp;&nbsp;&nbsp;3.500%, 04/01/2044 to 07/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135031513 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123490126 |
| &nbsp;&nbsp;&nbsp;4.000%, 08/01/2037 to 04/01/2053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132177288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124668107 |
| &nbsp;&nbsp;&nbsp;4.500%, 12/01/2037 to 02/01/2054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77125917 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74503863 |
| &nbsp;&nbsp;&nbsp;5.000%, 08/01/2052 to 12/01/2054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215829611 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213179381 |
| &nbsp;&nbsp;&nbsp;5.500%, 06/01/2053 to 04/01/2055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81686975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82407437 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, 06/01/2036 to 02/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81252460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69067844 |
| &nbsp;&nbsp;&nbsp;2.500%, 08/01/2035 to 03/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197115490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169033676 |
| &nbsp;&nbsp;&nbsp;3.000%, 03/01/2033 to 05/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204182719 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180532989 |
| &nbsp;&nbsp;&nbsp;3.500%, 06/01/2042 to 09/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169261743 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154761731 |
| &nbsp;&nbsp;&nbsp;4.000%, 10/01/2037 to 07/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269995025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;256467608 |
| &nbsp;&nbsp;&nbsp;4.500%, 11/01/2037 to 05/01/2053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;272432489 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263604784 |
| &nbsp;&nbsp;&nbsp;5.000%, 07/01/2052 to 11/01/2054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160785988 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158820148 |

---

#### Select Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** | **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Federal National<br> Mortgage Association (continued) |  |  |
| &nbsp;&nbsp;&nbsp;5.500%, 12/01/2052 to 04/01/2055 | 99280312 | $&nbsp;&nbsp;&nbsp;&nbsp;100065666 |
|  |  | 2143261154 |
| TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $3,263,333,051) | TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $3,263,333,051) | $3124587224 |
| **CORPORATE BONDS – 29.1%** | **CORPORATE BONDS – 29.1%** |  |
| **Communication services – 1.1%** |  |  |
| AT&T, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.750%, 06/01/2031 | 10797000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9789690 |
| &nbsp;&nbsp;&nbsp;3.550%, 09/15/2055 | 10796000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7284578 |
| &nbsp;&nbsp;&nbsp;4.500%, 05/15/2035 | &nbsp;&nbsp;3439000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3276988 |
| Charter Communications Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;2.800%, 04/01/2031 | &nbsp;&nbsp;9513000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8482682 |
| &nbsp;&nbsp;&nbsp;6.384%, 10/23/2035 | &nbsp;&nbsp;7578000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7959237 |
| Netflix, Inc.<br> 4.875%, 06/15/2030 (A) | &nbsp;&nbsp;7860000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8042129 |
| T-Mobile USA, Inc.<br> 3.875%, 04/15/2030 | 16003000 | &nbsp;&nbsp;&nbsp;&nbsp;15542398 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;60377702 |
| **Consumer discretionary – 0.6%** |  |  |
| AutoNation, Inc.<br> 4.750%, 06/01/2030 | &nbsp;&nbsp;4455000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4429590 |
| Ford Motor Credit Company LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, 11/13/2030 | &nbsp;&nbsp;6753000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6165146 |
| &nbsp;&nbsp;&nbsp;6.054%, 11/05/2031 | &nbsp;&nbsp;5679000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5649705 |
| General Motors Financial Company, Inc.<br> 5.600%, 06/18/2031 | 14276000 | &nbsp;&nbsp;&nbsp;&nbsp;14560688 |
| Hyundai Capital America<br> 5.400%, 01/08/2031 (A) | &nbsp;&nbsp;4475000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4569169 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;35374298 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 74 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Select Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Consumer staples – 0.5%** |  |  |
| Bimbo Bakeries USA, Inc.<br> 6.050%, 01/15/2029 (A) | $&nbsp;&nbsp;4160000 | $&nbsp;&nbsp;&nbsp;4348485 |
| JBS USA LUX SA |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, 01/15/2032 | &nbsp;&nbsp;5127000 | &nbsp;&nbsp;&nbsp;4688076 |
| &nbsp;&nbsp;&nbsp;5.750%, 04/01/2033 | &nbsp;&nbsp;5554000 | &nbsp;&nbsp;&nbsp;5709068 |
| &nbsp;&nbsp;&nbsp;5.950%, 04/20/2035 (A) | &nbsp;&nbsp;1414000 | &nbsp;&nbsp;&nbsp;1464876 |
| Kenvue, Inc.<br> 4.850%, 05/22/2032 | &nbsp;&nbsp;6913000 | &nbsp;&nbsp;&nbsp;6996149 |
| Mars, Inc.<br> 5.000%, 03/01/2032 (A) | &nbsp;&nbsp;3392000 | &nbsp;&nbsp;&nbsp;3437094 |
| Pilgrim's Pride Corp.<br> 6.250%, 07/01/2033 | &nbsp;&nbsp;3414000 | &nbsp;&nbsp;&nbsp;3609554 |
|  |  | 30253302 |
| **Energy – 4.0%** |  |  |
| Aker BP ASA |  |  |
| &nbsp;&nbsp;&nbsp;3.100%, 07/15/2031 (A) | &nbsp;&nbsp;1302000 | &nbsp;&nbsp;&nbsp;1162656 |
| &nbsp;&nbsp;&nbsp;3.750%, 01/15/2030 (A) | &nbsp;&nbsp;1411000 | &nbsp;&nbsp;&nbsp;1343572 |
| &nbsp;&nbsp;&nbsp;4.000%, 01/15/2031 (A) | &nbsp;&nbsp;1997000 | &nbsp;&nbsp;&nbsp;1896708 |
| &nbsp;&nbsp;&nbsp;5.800%, 10/01/2054 (A) | &nbsp;&nbsp;2495000 | &nbsp;&nbsp;&nbsp;2274527 |
| Antero Resources Corp.<br> 5.375%, 03/01/2030 (A) | &nbsp;&nbsp;6088000 | &nbsp;&nbsp;&nbsp;6126951 |
| Cheniere Energy Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;3.250%, 01/31/2032 | 12750000 | 11429562 |
| &nbsp;&nbsp;&nbsp;5.550%, 10/30/2035 (A) | &nbsp;&nbsp;2672000 | &nbsp;&nbsp;&nbsp;2693008 |
| &nbsp;&nbsp;&nbsp;5.950%, 06/30/2033 | &nbsp;&nbsp;5442000 | &nbsp;&nbsp;&nbsp;5680552 |
| Cheniere Energy, Inc.<br> 5.650%, 04/15/2034 | &nbsp;&nbsp;1652000 | &nbsp;&nbsp;&nbsp;1691945 |
| Columbia Pipelines Holding Company LLC<br> 5.681%, 01/15/2034 (A) | &nbsp;&nbsp;3909000 | &nbsp;&nbsp;&nbsp;3957051 |
| Columbia Pipelines Operating<br> Company LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.927%, 08/15/2030 (A) | &nbsp;&nbsp;1723000 | &nbsp;&nbsp;&nbsp;1818850 |
| &nbsp;&nbsp;&nbsp;6.036%, 11/15/2033 (A) | &nbsp;&nbsp;6630000 | &nbsp;&nbsp;&nbsp;6956745 |
| Continental Resources, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.875%, 04/01/2032 (A) | &nbsp;&nbsp;3577000 | &nbsp;&nbsp;&nbsp;3007121 |
| &nbsp;&nbsp;&nbsp;4.900%, 06/01/2044 | &nbsp;&nbsp;3549000 | &nbsp;&nbsp;&nbsp;2788300 |
| &nbsp;&nbsp;&nbsp;5.750%, 01/15/2031 (A) | &nbsp;&nbsp;6120000 | &nbsp;&nbsp;&nbsp;6178653 |
| DT Midstream, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.375%, 06/15/2031 (A) | 10723000 | 10268179 |
| &nbsp;&nbsp;&nbsp;5.800%, 12/15/2034 (A) | &nbsp;&nbsp;2130000 | &nbsp;&nbsp;&nbsp;2169218 |
| Enbridge, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.750%, (5.750% to 7-15-30, then 5 Year CMT + 5.314% to 7-15-50, then 5 Year CMT + 6.064%), 07/15/2080 | &nbsp;&nbsp;6888000 | &nbsp;&nbsp;&nbsp;6868723 |
| &nbsp;&nbsp;&nbsp;6.250%, (6.250% to 3-1-28, then 3 month CME Term SOFR + 3.903% to 3-1-48, then 3 month CME Term SOFR + 4.653%), 03/01/2078 | &nbsp;&nbsp;8184000 | &nbsp;&nbsp;&nbsp;8216417 |
| &nbsp;&nbsp;&nbsp;8.500%, (8.500% to 1-15-34, then 5 Year CMT + 4.431% to 1-15-54, then 5 Year CMT + 5.181%), 01/15/2084 | &nbsp;&nbsp;3176000 | &nbsp;&nbsp;&nbsp;3536057 |
| Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp;5.150%, 03/15/2045 | &nbsp;&nbsp;3478000 | &nbsp;&nbsp;&nbsp;3064729 |
| &nbsp;&nbsp;&nbsp;5.400%, 10/01/2047 | &nbsp;&nbsp;7516000 | &nbsp;&nbsp;&nbsp;6693157 |
| &nbsp;&nbsp;&nbsp;5.600%, 09/01/2034 | &nbsp;&nbsp;3044000 | &nbsp;&nbsp;&nbsp;3091529 |
| Enterprise Products Operating LLC<br> 5.250%, (5.250% to 8-16-27, then 3 month CME Term SOFR + 3.295%), 08/16/2077 | &nbsp;&nbsp;9537000 | &nbsp;&nbsp;&nbsp;9436067 |
| Expand Energy Corp.<br> 4.750%, 02/01/2032 | &nbsp;&nbsp;6234000 | &nbsp;&nbsp;&nbsp;6061854 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Energy (continued)** |  |  |
| Harbour Energy PLC<br> 6.327%, 04/01/2035 (A) | $&nbsp;&nbsp;8400000 | $&nbsp;&nbsp;&nbsp;&nbsp;8350653 |
| MPLX LP |  |  |
| &nbsp;&nbsp;&nbsp;4.950%, 09/01/2032 | &nbsp;&nbsp;3400000 | &nbsp;&nbsp;&nbsp;&nbsp;3368555 |
| &nbsp;&nbsp;&nbsp;5.000%, 03/01/2033 | &nbsp;&nbsp;3412000 | &nbsp;&nbsp;&nbsp;&nbsp;3364526 |
| Occidental Petroleum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.375%, 01/01/2032 | &nbsp;&nbsp;2492000 | &nbsp;&nbsp;&nbsp;&nbsp;2471494 |
| &nbsp;&nbsp;&nbsp;6.050%, 10/01/2054 | &nbsp;&nbsp;6181000 | &nbsp;&nbsp;&nbsp;&nbsp;5663089 |
| &nbsp;&nbsp;&nbsp;6.450%, 09/15/2036 | &nbsp;&nbsp;8761000 | &nbsp;&nbsp;&nbsp;&nbsp;8963577 |
| &nbsp;&nbsp;&nbsp;6.625%, 09/01/2030 | &nbsp;&nbsp;2127000 | &nbsp;&nbsp;&nbsp;&nbsp;2249047 |
| ONEOK, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.050%, 09/01/2033 | &nbsp;&nbsp;5628000 | &nbsp;&nbsp;&nbsp;&nbsp;5905215 |
| &nbsp;&nbsp;&nbsp;6.625%, 09/01/2053 | &nbsp;&nbsp;5695000 | &nbsp;&nbsp;&nbsp;&nbsp;5918611 |
| Ovintiv, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.250%, 07/15/2033 | &nbsp;&nbsp;2314000 | &nbsp;&nbsp;&nbsp;&nbsp;2389067 |
| &nbsp;&nbsp;&nbsp;7.200%, 11/01/2031 | &nbsp;&nbsp;&nbsp;&nbsp;649000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;701198 |
| Sabine Pass Liquefaction LLC<br> 4.500%, 05/15/2030 | 11259000 | &nbsp;&nbsp;&nbsp;11240164 |
| Saudi Arabian Oil Company<br> 5.250%, 07/17/2034 (A) | &nbsp;&nbsp;1672000 | &nbsp;&nbsp;&nbsp;&nbsp;1689380 |
| Targa Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.500%, 02/15/2035 | &nbsp;&nbsp;5603000 | &nbsp;&nbsp;&nbsp;&nbsp;5622628 |
| &nbsp;&nbsp;&nbsp;6.150%, 03/01/2029 | &nbsp;&nbsp;3959000 | &nbsp;&nbsp;&nbsp;&nbsp;4163497 |
| Targa Resources Partners LP<br> 4.000%, 01/15/2032 | &nbsp;&nbsp;4143000 | &nbsp;&nbsp;&nbsp;&nbsp;3861228 |
| Var Energi ASA |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, 05/22/2030 (A) | &nbsp;&nbsp;5034000 | &nbsp;&nbsp;&nbsp;&nbsp;5157276 |
| &nbsp;&nbsp;&nbsp;8.000%, 11/15/2032 (A) | 11393000 | &nbsp;&nbsp;&nbsp;12912009 |
| Western Midstream Operating LP |  |  |
| &nbsp;&nbsp;&nbsp;4.050%, 02/01/2030 | &nbsp;&nbsp;4954000 | &nbsp;&nbsp;&nbsp;&nbsp;4764384 |
| &nbsp;&nbsp;&nbsp;5.450%, 11/15/2034 | &nbsp;&nbsp;1952000 | &nbsp;&nbsp;&nbsp;&nbsp;1913740 |
| Whistler Pipeline LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.400%, 09/30/2029 (A) | &nbsp;&nbsp;1920000 | &nbsp;&nbsp;&nbsp;&nbsp;1941961 |
| &nbsp;&nbsp;&nbsp;5.700%, 09/30/2031 (A) | &nbsp;&nbsp;2022000 | &nbsp;&nbsp;&nbsp;&nbsp;2061300 |
|  |  | 223084730 |
| **Financials – 11.6%** |  |  |
| Ally Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.737%, (5.737% to 5-15-28, then SOFR Compouned Index + 1.960%), 05/15/2029 | &nbsp;&nbsp;2094000 | &nbsp;&nbsp;&nbsp;&nbsp;2131280 |
| &nbsp;&nbsp;&nbsp;6.184%, (6.184% to 7-26-34, then Overnight SOFR + 2.290%), 07/26/2035 | &nbsp;&nbsp;3319000 | &nbsp;&nbsp;&nbsp;&nbsp;3385308 |
| &nbsp;&nbsp;&nbsp;8.000%, 11/01/2031 | &nbsp;&nbsp;4521000 | &nbsp;&nbsp;&nbsp;&nbsp;5147702 |
| Apollo Debt Solutions BDC |  |  |
| &nbsp;&nbsp;&nbsp;6.700%, 07/29/2031 | &nbsp;&nbsp;4853000 | &nbsp;&nbsp;&nbsp;&nbsp;5042926 |
| &nbsp;&nbsp;&nbsp;6.900%, 04/13/2029 | &nbsp;&nbsp;1662000 | &nbsp;&nbsp;&nbsp;&nbsp;1734897 |
| Ares Capital Corp.<br> 5.875%, 03/01/2029 | &nbsp;&nbsp;2432000 | &nbsp;&nbsp;&nbsp;&nbsp;2479807 |
| Ares Strategic Income Fund |  |  |
| &nbsp;&nbsp;&nbsp;5.600%, 02/15/2030 | &nbsp;&nbsp;4613000 | &nbsp;&nbsp;&nbsp;&nbsp;4599045 |
| &nbsp;&nbsp;&nbsp;5.700%, 03/15/2028 | &nbsp;&nbsp;1122000 | &nbsp;&nbsp;&nbsp;&nbsp;1131068 |
| &nbsp;&nbsp;&nbsp;5.800%, 09/09/2030 (A) | &nbsp;&nbsp;5296000 | &nbsp;&nbsp;&nbsp;&nbsp;5314504 |
| &nbsp;&nbsp;&nbsp;6.200%, 03/21/2032 | &nbsp;&nbsp;4045000 | &nbsp;&nbsp;&nbsp;&nbsp;4056768 |
| &nbsp;&nbsp;&nbsp;6.350%, 08/15/2029 | &nbsp;&nbsp;1889000 | &nbsp;&nbsp;&nbsp;&nbsp;1936657 |
| Athene Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;4.721%, 10/08/2029 (A) | &nbsp;&nbsp;3479000 | &nbsp;&nbsp;&nbsp;&nbsp;3471260 |
| &nbsp;&nbsp;&nbsp;5.322%, 11/13/2031 (A) | &nbsp;&nbsp;4128000 | &nbsp;&nbsp;&nbsp;&nbsp;4160500 |
| Athene Holding, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, 01/15/2031 | 11755000 | &nbsp;&nbsp;&nbsp;11065096 |
| &nbsp;&nbsp;&nbsp;6.625%, (6.625% to 10-15-34, then 5 Year CMT + 2.607%), 10/15/2054 | &nbsp;&nbsp;2418000 | &nbsp;&nbsp;&nbsp;&nbsp;2380280 |
| Atlas Warehouse Lending Company LP<br> 6.250%, 01/15/2030 (A) | &nbsp;&nbsp;3422000 | &nbsp;&nbsp;&nbsp;&nbsp;3458140 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 75 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Select Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.592%, (2.592% to 4-29-30, then Overnight SOFR + 2.150%), 04/29/2031 | $&nbsp;&nbsp;9261000 | $&nbsp;&nbsp;&nbsp;8466412 |
| &nbsp;&nbsp;&nbsp;2.687%, (2.687% to 4-22-31, then Overnight SOFR + 1.320%), 04/22/2032 | 15228000 | 13665985 |
| &nbsp;&nbsp;&nbsp;4.571%, (4.571% to 4-27-32, then Overnight SOFR + 1.830%), 04/27/2033 | 15672000 | 15422361 |
| &nbsp;&nbsp;&nbsp;5.425%, (5.425% to 8-15-34, then Overnight SOFR + 1.913%), 08/15/2035 | 12552000 | 12548298 |
| &nbsp;&nbsp;&nbsp;6.625%, (6.625% to 5-1-30, then 5 Year CMT + 2.684%), 05/01/2030 (B) | &nbsp;&nbsp;8168000 | &nbsp;&nbsp;&nbsp;8459214 |
| Bank of Montreal<br> 7.700%, (7.700% to 5-26-29, then 5 Year CMT + 3.452%), 05/26/2084 | &nbsp;&nbsp;7283000 | &nbsp;&nbsp;&nbsp;7520309 |
| Barclays PLC<br> 5.690%, (5.690% to 3-12-29, then Overnight SOFR + 1.740%), 03/12/2030 | 15692000 | 16236887 |
| Blackstone Private Credit Fund |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, 04/01/2030 | &nbsp;&nbsp;4767000 | &nbsp;&nbsp;&nbsp;4724490 |
| &nbsp;&nbsp;&nbsp;5.950%, 07/16/2029 | &nbsp;&nbsp;3352000 | &nbsp;&nbsp;&nbsp;3415427 |
| &nbsp;&nbsp;&nbsp;6.000%, 01/29/2032 | &nbsp;&nbsp;4590000 | &nbsp;&nbsp;&nbsp;4615377 |
| &nbsp;&nbsp;&nbsp;7.300%, 11/27/2028 | &nbsp;&nbsp;3286000 | &nbsp;&nbsp;&nbsp;3504501 |
| Blackstone Secured Lending Fund<br> 5.350%, 04/13/2028 | &nbsp;&nbsp;4559000 | &nbsp;&nbsp;&nbsp;4591373 |
| BNP Paribas SA |  |  |
| &nbsp;&nbsp;&nbsp;5.497%, (5.497% to 5-20-29, then Overnight SOFR + 1.590%), 05/20/2030 (A) | &nbsp;&nbsp;4613000 | &nbsp;&nbsp;&nbsp;4736707 |
| &nbsp;&nbsp;&nbsp;9.250%, (9.250% to 11-17-27, then 5 Year CMT + 4.969%), 11/17/2027 (A)(B) | &nbsp;&nbsp;1922000 | &nbsp;&nbsp;&nbsp;2059290 |
| BPCE SA<br> 5.716%, (5.716% to 1-18-29, then Overnight SOFR + 1.959%), 01/18/2030 (A) | &nbsp;&nbsp;4423000 | &nbsp;&nbsp;&nbsp;4553775 |
| Brookfield Finance, Inc.<br> 6.300%, (6.300% to 1-15-35, then 5 Year CMT + 2.076%), 01/15/2055 | &nbsp;&nbsp;5783000 | &nbsp;&nbsp;&nbsp;5534039 |
| Cantor Fitzgerald LP<br> 7.200%, 12/12/2028 (A) | &nbsp;&nbsp;9542000 | 10129067 |
| Capital One Financial Corp.<br> 6.700%, 11/29/2032 | &nbsp;&nbsp;6707000 | &nbsp;&nbsp;&nbsp;7323481 |
| Citadel Finance LLC<br> 5.900%, 02/10/2030 (A) | &nbsp;&nbsp;3312000 | &nbsp;&nbsp;&nbsp;3343446 |
| Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.561%, (2.561% to 5-1-31, then Overnight SOFR + 1.167%), 05/01/2032 | &nbsp;&nbsp;5665000 | &nbsp;&nbsp;&nbsp;5018730 |
| &nbsp;&nbsp;&nbsp;6.174%, (6.174% to 5-25-33, then Overnight SOFR + 2.661%), 05/25/2034 | &nbsp;&nbsp;6377000 | &nbsp;&nbsp;&nbsp;6675628 |
| Citizens Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.250%, 04/30/2030 | &nbsp;&nbsp;1035000 | &nbsp;&nbsp;&nbsp;&nbsp;968158 |
| &nbsp;&nbsp;&nbsp;5.253%, (5.253% to 3-5-30, then Overnight SOFR + 1.259%), 03/05/2031 | &nbsp;&nbsp;4252000 | &nbsp;&nbsp;&nbsp;4308957 |
| &nbsp;&nbsp;&nbsp;5.718%, (5.718% to 7-23-31, then Overnight SOFR + 1.910%), 07/23/2032 | &nbsp;&nbsp;9251000 | &nbsp;&nbsp;&nbsp;9570491 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| Citizens Financial<br> Group, Inc. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;6.645%, (6.645% to 4-25-34, then Overnight SOFR + 2.325%), 04/25/2035 | $&nbsp;&nbsp;3806000 | $4102397 |
| CNO Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, 05/30/2029 | &nbsp;&nbsp;7460000 | 7525380 |
| &nbsp;&nbsp;&nbsp;6.450%, 06/15/2034 | &nbsp;&nbsp;2070000 | 2170883 |
| CNO Global Funding<br> 4.950%, 09/09/2029 (A) | &nbsp;&nbsp;4077000 | 4118840 |
| Comerica, Inc.<br> 5.982%, (5.982% to 1-30-29, then Overnight SOFR + 2.155%), 01/30/2030 | &nbsp;&nbsp;3333000 | 3413964 |
| Credit Agricole SA |  |  |
| &nbsp;&nbsp;&nbsp;3.250%, 01/14/2030 (A) | 10291000 | 9588888 |
| &nbsp;&nbsp;&nbsp;6.316%, (6.316% to 10-3-28, then Overnight SOFR + 1.860%), 10/03/2029 (A) | &nbsp;&nbsp;5562000 | 5845723 |
| Danske Bank A/S<br> 5.019%, (5.019% to 3-4-30, then 1 Year CMT + 0.930%), 03/04/2031 (A) | &nbsp;&nbsp;5425000 | 5486482 |
| Deutsche Bank AG |  |  |
| &nbsp;&nbsp;&nbsp;5.297%, (5.297% to 5-9-30, then Overnight SOFR + 1.720%), 05/09/2031 | &nbsp;&nbsp;3641000 | 3697874 |
| &nbsp;&nbsp;&nbsp;6.819%, (6.819% to 11-20-28, then Overnight SOFR + 2.510%), 11/20/2029 | &nbsp;&nbsp;3804000 | 4057428 |
| Enact Holdings, Inc.<br> 6.250%, 05/28/2029 | &nbsp;&nbsp;5682000 | 5895832 |
| F&G Annuities & Life, Inc.<br> 6.500%, 06/04/2029 | &nbsp;&nbsp;2989000 | 3081893 |
| Fifth Third Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;4.772%, (4.772% to 7-28-29, then SOFR Compounded Index + 2.127%), 07/28/2030 | &nbsp;&nbsp;2420000 | 2435015 |
| &nbsp;&nbsp;&nbsp;5.631%, (5.631% to 1-29-31, then Overnight SOFR + 1.840%), 01/29/2032 | &nbsp;&nbsp;4235000 | 4407291 |
| First Citizens BancShares, Inc.<br> 5.231%, (5.231% to 3-12-30, then Overnight SOFR + 1.410%), 03/12/2031 | &nbsp;&nbsp;5649000 | 5678857 |
| First Horizon Corp.<br> 5.514%, (5.514% to 3-7-30, then Overnight SOFR + 1.766%), 03/07/2031 | &nbsp;&nbsp;3392000 | 3440877 |
| GA Global Funding Trust<br> 5.200%, 12/09/2031 (A) | &nbsp;&nbsp;4053000 | 4056883 |
| HPS Corporate Lending Fund<br> 5.950%, 04/14/2032 | &nbsp;&nbsp;2312000 | 2297285 |
| Huntington Bancshares, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.272%, (5.272% to 1-15-30, then Overnight SOFR + 1.276%), 01/15/2031 | &nbsp;&nbsp;3485000 | 3570721 |
| &nbsp;&nbsp;&nbsp;6.141%, (6.141% to 11-18-34, then 5 Year CMT + 1.700%), 11/18/2039 | &nbsp;&nbsp;1808000 | 1843073 |
| &nbsp;&nbsp;&nbsp;6.208%, (6.208% to 8-21-28, then Overnight SOFR + 2.020%), 08/21/2029 | &nbsp;&nbsp;2457000 | 2578173 |
| ING Groep NV |  |  |
| &nbsp;&nbsp;&nbsp;5.335%, (5.335% to 3-19-29, then Overnight SOFR + 1.440%), 03/19/2030 | &nbsp;&nbsp;1634000 | 1675554 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 76 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Select Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| ING Groep NV (continued) |  |  |
| &nbsp;&nbsp;&nbsp;6.114%, (6.114% to 9-11-33, then Overnight SOFR + 2.090%), 09/11/2034 | $&nbsp;&nbsp;2482000 | $2638552 |
| Jefferies Financial Group, Inc.<br> 6.200%, 04/14/2034 | &nbsp;&nbsp;4595000 | 4806452 |
| JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;2.522%, (2.522% to 4-22-30, then Overnight SOFR + 2.040%), 04/22/2031 | &nbsp;&nbsp;2662000 | 2433854 |
| &nbsp;&nbsp;&nbsp;2.956%, (2.956% to 5-13-30, then 3 month CME Term SOFR + 2.515%), 05/13/2031 | 10565000 | 9769457 |
| &nbsp;&nbsp;&nbsp;4.452%, (4.452% to 12-5-28, then 3 month CME Term SOFR + 1.592%), 12/05/2029 | &nbsp;&nbsp;1872000 | 1875512 |
| &nbsp;&nbsp;&nbsp;4.603%, (4.603% to 10-22-29, then Overnight SOFR + 1.040%), 10/22/2030 | &nbsp;&nbsp;5672000 | 5691374 |
| &nbsp;&nbsp;&nbsp;4.995%, (4.995% to 7-22-29, then Overnight SOFR + 1.125%), 07/22/2030 | &nbsp;&nbsp;5767000 | 5872319 |
| &nbsp;&nbsp;&nbsp;5.012%, (5.012% to 1-23-29, then Overnight SOFR + 1.310%), 01/23/2030 | &nbsp;&nbsp;6182000 | 6296101 |
| &nbsp;&nbsp;&nbsp;5.294%, (5.294% to 7-22-34, then Overnight SOFR + 1.460%), 07/22/2035 | &nbsp;&nbsp;5681000 | 5781112 |
| &nbsp;&nbsp;&nbsp;5.581%, (5.581% to 4-22-29, then Overnight SOFR + 1.160%), 04/22/2030 | &nbsp;&nbsp;3242000 | 3366353 |
| KeyBank NA<br> 5.000%, 01/26/2033 | &nbsp;&nbsp;5744000 | 5668137 |
| KeyCorp<br> 5.121%, (5.121% to 4-4-30, then SOFR Compounded Index + 1.227%), 04/04/2031 | &nbsp;&nbsp;5332000 | 5395642 |
| Lazard Group LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.375%, 03/11/2029 | &nbsp;&nbsp;4073000 | 4024561 |
| &nbsp;&nbsp;&nbsp;6.000%, 03/15/2031 | &nbsp;&nbsp;3245000 | 3407488 |
| Lloyds Banking Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;6.068%, (6.068% to 6-13-35, then 1 Year CMT + 1.600%), 06/13/2036 | &nbsp;&nbsp;3363000 | 3457497 |
| &nbsp;&nbsp;&nbsp;6.750%, (6.750% to 9-27-31, then 5 Year CMT + 3.150%), 09/27/2031 (B) | &nbsp;&nbsp;3030000 | 2964795 |
| M&T Bank Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, (5.125% to 11-1-26, then 3 month CME Term SOFR + 3.782%), 11/01/2026 (B) | &nbsp;&nbsp;4011000 | 3989999 |
| &nbsp;&nbsp;&nbsp;5.179%, (5.179% to 7-8-30, then Overnight SOFR + 1.400%), 07/08/2031 | &nbsp;&nbsp;2742000 | 2787422 |
| &nbsp;&nbsp;&nbsp;5.385%, (5.385% to 1-16-35, then Overnight SOFR + 1.610%), 01/16/2036 | &nbsp;&nbsp;4642000 | 4625876 |
| Macquarie Airfinance Holdings, Ltd.<br> 5.150%, 03/17/2030 (A) | &nbsp;&nbsp;1381000 | 1380072 |
| Macquarie Bank, Ltd.<br> 3.624%, 06/03/2030 (A) | &nbsp;&nbsp;4283000 | 4024431 |
| MassMutual Global Funding II<br> 4.350%, 09/17/2031 (A) | &nbsp;&nbsp;4274000 | 4212787 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| MetLife, Inc.<br> 6.400%, (6.400% to 12-15-36, then 3 month CME Term SOFR + 2.467%), 12/15/2036 | $&nbsp;&nbsp;4716000 | $&nbsp;&nbsp;&nbsp;4938450 |
| Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;2.239%, (2.239% to 7-21-31, then Overnight SOFR + 1.178%), 07/21/2032 | &nbsp;&nbsp;2499000 | &nbsp;&nbsp;&nbsp;2164003 |
| &nbsp;&nbsp;&nbsp;2.484%, (2.484% to 9-16-31, then Overnight SOFR + 1.360%), 09/16/2036 | &nbsp;&nbsp;9696000 | &nbsp;&nbsp;&nbsp;8239032 |
| &nbsp;&nbsp;&nbsp;5.173%, (5.173% to 1-16-29, then Overnight SOFR + 1.450%), 01/16/2030 | &nbsp;&nbsp;9578000 | &nbsp;&nbsp;&nbsp;9778648 |
| &nbsp;&nbsp;&nbsp;5.320%, (5.320% to 7-19-34, then Overnight SOFR + 1.555%), 07/19/2035 | &nbsp;&nbsp;6945000 | &nbsp;&nbsp;&nbsp;7029782 |
| NatWest Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;7.300%, (7.300% to 5-19-35, then 5 Year CMT + 2.937%), 11/19/2034 (B) | &nbsp;&nbsp;5552000 | &nbsp;&nbsp;&nbsp;5520405 |
| &nbsp;&nbsp;&nbsp;8.125%, (8.125% to 5-10-34, then 5 Year CMT + 3.752%), 11/10/2033 (B) | &nbsp;&nbsp;8497000 | &nbsp;&nbsp;&nbsp;9165323 |
| NMI Holdings, Inc.<br> 6.000%, 08/15/2029 | &nbsp;&nbsp;5245000 | &nbsp;&nbsp;&nbsp;5381895 |
| Nordea Bank ABP<br> 6.300%, (6.300% to 3-25-32, then 5 Year CMT + 2.660%), 09/25/2031 (A)(B)(C) | &nbsp;&nbsp;8181000 | &nbsp;&nbsp;&nbsp;7968622 |
| Radian Group, Inc.<br> 6.200%, 05/15/2029 | &nbsp;&nbsp;7871000 | &nbsp;&nbsp;&nbsp;8178141 |
| Regions Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.502%, (5.502% to 9-6-34, then Overnight SOFR + 2.060%), 09/06/2035 | &nbsp;&nbsp;8976000 | &nbsp;&nbsp;&nbsp;8998444 |
| &nbsp;&nbsp;&nbsp;5.722%, (5.722% to 6-6-29, then Overnight SOFR + 1.490%), 06/06/2030 | &nbsp;&nbsp;2506000 | &nbsp;&nbsp;&nbsp;2588204 |
| Reinsurance Group of America, Inc.<br> 6.650%, (6.650% to 9-15-35, then 5 Year CMT + 2.392%), 09/15/2055 | &nbsp;&nbsp;2372000 | &nbsp;&nbsp;&nbsp;2364180 |
| SBL Holdings, Inc.<br> 5.000%, 02/18/2031 (A) | &nbsp;&nbsp;2552000 | &nbsp;&nbsp;&nbsp;2317491 |
| Sixth Street Lending Partners |  |  |
| &nbsp;&nbsp;&nbsp;5.750%, 01/15/2030 | &nbsp;&nbsp;2339000 | &nbsp;&nbsp;&nbsp;2344799 |
| &nbsp;&nbsp;&nbsp;6.125%, 07/15/2030 (A) | &nbsp;&nbsp;2294000 | &nbsp;&nbsp;&nbsp;2335912 |
| Teachers Insurance & Annuity Association of America<br> 4.270%, 05/15/2047 (A) | &nbsp;&nbsp;7843000 | &nbsp;&nbsp;&nbsp;6367061 |
| The Bank of New York Mellon Corp.<br> 4.942%, (4.942% to 2-11-30, then Overnight SOFR + 0.887%), 02/11/2031 | &nbsp;&nbsp;3287000 | &nbsp;&nbsp;&nbsp;3356581 |
| The Charles Schwab Corp.<br> 5.853%, (5.853% to 5-19-33, then Overnight SOFR + 2.500%), 05/19/2034 | &nbsp;&nbsp;3582000 | &nbsp;&nbsp;&nbsp;3805199 |
| The Goldman Sachs Group, Inc.<br> 2.615%, (2.615% to 4-22-31, then Overnight SOFR + 1.281%), 04/22/2032 | 15280000 | 13581673 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 77 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Select Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| The PNC Financial Services Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.812%, (4.812% to 10-21-31, then Overnight SOFR + 1.259%), 10/21/2032 | $&nbsp;&nbsp;5467000 | $&nbsp;&nbsp;&nbsp;5479570 |
| &nbsp;&nbsp;&nbsp;5.575%, (5.575% to 1-29-35, then Overnight SOFR + 1.394%), 01/29/2036 | &nbsp;&nbsp;4018000 | &nbsp;&nbsp;&nbsp;4141231 |
| &nbsp;&nbsp;&nbsp;5.939%, (5.939% to 8-18-33, then Overnight SOFR + 1.946%), 08/18/2034 | &nbsp;&nbsp;3752000 | &nbsp;&nbsp;&nbsp;3969161 |
| &nbsp;&nbsp;&nbsp;6.250%, (6.250% to 3-15-30, then 7 Year CMT + 2.808%), 03/15/2030 (B) | &nbsp;&nbsp;3312000 | &nbsp;&nbsp;&nbsp;3405488 |
| Truist Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.153%, (5.153% to 8-5-31, then Overnight SOFR + 1.571%), 08/05/2032 | &nbsp;&nbsp;5528000 | &nbsp;&nbsp;&nbsp;5635444 |
| &nbsp;&nbsp;&nbsp;5.867%, (5.867% to 6-8-33, then Overnight SOFR + 2.361%), 06/08/2034 | 12193000 | 12737905 |
| &nbsp;&nbsp;&nbsp;7.161%, (7.161% to 10-30-28, then Overnight SOFR + 2.446%), 10/30/2029 | &nbsp;&nbsp;3637000 | &nbsp;&nbsp;&nbsp;3934096 |
| U.S. Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;4.839%, (4.839% to 2-1-33, then Overnight SOFR + 1.600%), 02/01/2034 | &nbsp;&nbsp;5850000 | &nbsp;&nbsp;&nbsp;5776404 |
| &nbsp;&nbsp;&nbsp;5.083%, (5.083% to 5-15-30, then Overnight SOFR + 1.296%), 05/15/2031 | &nbsp;&nbsp;3880000 | &nbsp;&nbsp;&nbsp;3957761 |
| &nbsp;&nbsp;&nbsp;5.384%, (5.384% to 1-23-29, then Overnight SOFR + 1.560%), 01/23/2030 | &nbsp;&nbsp;2246000 | &nbsp;&nbsp;&nbsp;2312522 |
| &nbsp;&nbsp;&nbsp;5.836%, (5.836% to 6-10-33, then Overnight SOFR + 2.260%), 06/12/2034 | &nbsp;&nbsp;5750000 | &nbsp;&nbsp;&nbsp;6039878 |
| UBS Group AG |  |  |
| &nbsp;&nbsp;&nbsp;5.428%, (5.428% to 2-8-29, then 1 Year CMT + 1.520%), 02/08/2030 (A) | &nbsp;&nbsp;3698000 | &nbsp;&nbsp;&nbsp;3797844 |
| &nbsp;&nbsp;&nbsp;6.301%, (6.301% to 9-22-33, then 1 Year CMT + 2.000%), 09/22/2034 (A) | &nbsp;&nbsp;3758000 | &nbsp;&nbsp;&nbsp;4035903 |
| &nbsp;&nbsp;&nbsp;7.000%, (7.000% to 8-10-30, then 5 Year SOFR ICE Swap Rate + 3.077%), 02/10/2030 (A)(B) | &nbsp;&nbsp;3908000 | &nbsp;&nbsp;&nbsp;3887606 |
| &nbsp;&nbsp;&nbsp;7.125%, (7.125% to 2-10-35, then 5 Year SOFR ICE Swap Rate + 3.179%), 08/10/2034 (A)(B) | &nbsp;&nbsp;4875000 | &nbsp;&nbsp;&nbsp;4854960 |
| &nbsp;&nbsp;&nbsp;9.250%, (9.250% to 11-13-33, then 5 Year CMT + 4.758%), 11/13/2033 (A)(B) | &nbsp;&nbsp;4471000 | &nbsp;&nbsp;&nbsp;5170314 |
| Wells Fargo & Company |  |  |
| &nbsp;&nbsp;&nbsp;3.350%, (3.350% to 3-2-32, then Overnight SOFR + 1.500%), 03/02/2033 | 17039000 | 15560866 |
| &nbsp;&nbsp;&nbsp;5.211%, (5.211% to 12-3-34, then Overnight SOFR + 1.380%), 12/03/2035 | &nbsp;&nbsp;4297000 | &nbsp;&nbsp;&nbsp;4313529 |
| &nbsp;&nbsp;&nbsp;5.244%, (5.244% to 1-24-30, then Overnight SOFR + 1.110%), 01/24/2031 | &nbsp;&nbsp;3556000 | &nbsp;&nbsp;&nbsp;3647878 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| Wells Fargo & Company (continued) |  |  |
| &nbsp;&nbsp;&nbsp;6.491%, (6.491% to 10-23-33, then Overnight SOFR + 2.060%), 10/23/2034 | $&nbsp;&nbsp;7675000 | $&nbsp;&nbsp;&nbsp;&nbsp;8389014 |
|  |  | 641797966 |
| **Health care – 2.3%** |  |  |
| AbbVie, Inc.<br> 5.050%, 03/15/2034 | &nbsp;&nbsp;2015000 | &nbsp;&nbsp;&nbsp;&nbsp;2051598 |
| Amgen, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, 03/02/2030 | &nbsp;&nbsp;6536000 | &nbsp;&nbsp;&nbsp;&nbsp;6734576 |
| &nbsp;&nbsp;&nbsp;5.250%, 03/02/2033 | 12694000 | &nbsp;&nbsp;&nbsp;12998944 |
| &nbsp;&nbsp;&nbsp;5.650%, 03/02/2053 | &nbsp;&nbsp;6451000 | &nbsp;&nbsp;&nbsp;&nbsp;6298730 |
| Cencora, Inc.<br> 2.800%, 05/15/2030 | &nbsp;&nbsp;4627000 | &nbsp;&nbsp;&nbsp;&nbsp;4296719 |
| Centene Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.625%, 08/01/2031 | &nbsp;&nbsp;7216000 | &nbsp;&nbsp;&nbsp;&nbsp;6182693 |
| &nbsp;&nbsp;&nbsp;4.625%, 12/15/2029 | 12783000 | &nbsp;&nbsp;&nbsp;12433160 |
| Fresenius Medical Care US Finance<br> III, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.375%, 02/16/2031 (A) | &nbsp;&nbsp;9496000 | &nbsp;&nbsp;&nbsp;&nbsp;8213978 |
| &nbsp;&nbsp;&nbsp;3.750%, 06/15/2029 (A) | &nbsp;&nbsp;5488000 | &nbsp;&nbsp;&nbsp;&nbsp;5268395 |
| HCA, Inc.<br> 5.450%, 04/01/2031 | &nbsp;&nbsp;4457000 | &nbsp;&nbsp;&nbsp;&nbsp;4595784 |
| Horizon Mutual Holdings, Inc.<br> 6.200%, 11/15/2034 (A) | &nbsp;&nbsp;6064000 | &nbsp;&nbsp;&nbsp;&nbsp;5968796 |
| Icon Investments Six DAC<br> 5.849%, 05/08/2029 | &nbsp;&nbsp;2297000 | &nbsp;&nbsp;&nbsp;&nbsp;2382915 |
| IQVIA, Inc.<br> 6.250%, 02/01/2029 | &nbsp;&nbsp;2930000 | &nbsp;&nbsp;&nbsp;&nbsp;3062292 |
| Pfizer Investment Enterprises Pte, Ltd.<br> 4.750%, 05/19/2033 | &nbsp;&nbsp;5425000 | &nbsp;&nbsp;&nbsp;&nbsp;5408691 |
| Regeneron Pharmaceuticals, Inc.<br> 1.750%, 09/15/2030 | 10161000 | &nbsp;&nbsp;&nbsp;&nbsp;8825040 |
| Royalty Pharma PLC<br> 5.150%, 09/02/2029 | &nbsp;&nbsp;2910000 | &nbsp;&nbsp;&nbsp;&nbsp;2969545 |
| Solventum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.400%, 03/01/2029 | &nbsp;&nbsp;4638000 | &nbsp;&nbsp;&nbsp;&nbsp;4776053 |
| &nbsp;&nbsp;&nbsp;5.450%, 03/13/2031 | &nbsp;&nbsp;8294000 | &nbsp;&nbsp;&nbsp;&nbsp;8612087 |
| UnitedHealth Group, Inc.<br> 5.950%, 06/15/2055 | &nbsp;&nbsp;2527000 | &nbsp;&nbsp;&nbsp;&nbsp;2566352 |
| Universal Health Services, Inc.<br> 2.650%, 10/15/2030 | &nbsp;&nbsp;5928000 | &nbsp;&nbsp;&nbsp;&nbsp;5285515 |
| Viatris, Inc.<br> 4.000%, 06/22/2050 | 16107000 | &nbsp;&nbsp;&nbsp;10729588 |
|  |  | 129661451 |
| **Industrials – 2.4%** |  |  |
| AerCap Ireland Capital DAC |  |  |
| &nbsp;&nbsp;&nbsp;3.300%, 01/30/2032 | 14669000 | &nbsp;&nbsp;&nbsp;13289965 |
| &nbsp;&nbsp;&nbsp;6.500%, (6.500% to 1-31-31, then 5 Year CMT + 2.441%), 01/31/2056 | &nbsp;&nbsp;2957000 | &nbsp;&nbsp;&nbsp;&nbsp;2961710 |
| Air Canada 2015-2 Class AA Pass Through Trust<br> 3.750%, 12/15/2027 (A) | &nbsp;&nbsp;1362947 | &nbsp;&nbsp;&nbsp;&nbsp;1324973 |
| American Airlines 2016-1 Class A Pass Through Trust<br> 4.100%, 01/15/2028 | &nbsp;&nbsp;5640756 | &nbsp;&nbsp;&nbsp;&nbsp;5453050 |
| American Airlines 2017-1 Class A Pass Through Trust<br> 4.000%, 02/15/2029 | &nbsp;&nbsp;3534405 | &nbsp;&nbsp;&nbsp;&nbsp;3380513 |
| American Airlines 2017-1 Class AA Pass Through Trust<br> 3.650%, 02/15/2029 | &nbsp;&nbsp;2936625 | &nbsp;&nbsp;&nbsp;&nbsp;2838745 |
| American Airlines 2017-2 Class A Pass Through Trust<br> 3.600%, 10/15/2029 | &nbsp;&nbsp;3549827 | &nbsp;&nbsp;&nbsp;&nbsp;3275444 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 78 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Select Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Industrials (continued)** |  |  |
| American Airlines 2019-1 Class A Pass Through Trust<br> 3.500%, 02/15/2032 | $&nbsp;&nbsp;5731313 | $&nbsp;&nbsp;&nbsp;&nbsp;5177081 |
| American Airlines 2019-1 Class AA Pass Through Trust<br> 3.150%, 02/15/2032 | &nbsp;&nbsp;4515095 | &nbsp;&nbsp;&nbsp;&nbsp;4146197 |
| American Airlines 2021-1 Class A Pass Through Trust<br> 2.875%, 07/11/2034 | &nbsp;&nbsp;5162746 | &nbsp;&nbsp;&nbsp;&nbsp;4544812 |
| American Airlines 2021-1 Class B Pass Through Trust<br> 3.950%, 07/11/2030 | &nbsp;&nbsp;1602700 | &nbsp;&nbsp;&nbsp;&nbsp;1510812 |
| Ashtead Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.500%, 08/11/2032 (A) | &nbsp;&nbsp;6583000 | &nbsp;&nbsp;&nbsp;&nbsp;6666811 |
| &nbsp;&nbsp;&nbsp;5.550%, 05/30/2033 (A) | &nbsp;&nbsp;4798000 | &nbsp;&nbsp;&nbsp;&nbsp;4845628 |
| BAE Systems PLC<br> 5.250%, 03/26/2031 (A) | &nbsp;&nbsp;1257000 | &nbsp;&nbsp;&nbsp;&nbsp;1299068 |
| British Airways 2018-1 Class A Pass Through Trust<br> 4.125%, 09/20/2031 (A) | &nbsp;&nbsp;1238422 | &nbsp;&nbsp;&nbsp;&nbsp;1184239 |
| British Airways 2020-1 Class A Pass Through Trust<br> 4.250%, 11/15/2032 (A) | &nbsp;&nbsp;2171196 | &nbsp;&nbsp;&nbsp;&nbsp;2081690 |
| British Airways 2020-1 Class B Pass Through Trust<br> 8.375%, 11/15/2028 (A) | &nbsp;&nbsp;&nbsp;&nbsp;697491 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;735142 |
| CIMIC Finance USA Pty, Ltd.<br> 7.000%, 03/25/2034 (A) | &nbsp;&nbsp;2374000 | &nbsp;&nbsp;&nbsp;&nbsp;2527521 |
| DAE Funding LLC<br> 3.375%, 03/20/2028 (A) | &nbsp;&nbsp;6526000 | &nbsp;&nbsp;&nbsp;&nbsp;6264872 |
| Embraer Netherlands Finance BV<br> 7.000%, 07/28/2030 (A) | &nbsp;&nbsp;6338000 | &nbsp;&nbsp;&nbsp;&nbsp;6843202 |
| JetBlue 2019-1 Class AA Pass Through Trust<br> 2.750%, 05/15/2032 | &nbsp;&nbsp;4578268 | &nbsp;&nbsp;&nbsp;&nbsp;4006480 |
| Stanley Black & Decker, Inc.<br> 2.300%, 03/15/2030 | &nbsp;&nbsp;3867000 | &nbsp;&nbsp;&nbsp;&nbsp;3462033 |
| The Boeing Company<br> 6.528%, 05/01/2034 | &nbsp;&nbsp;9206000 | &nbsp;&nbsp;&nbsp;10002581 |
| United Airlines 2016-1 Class A Pass Through Trust<br> 3.450%, 07/07/2028 (C) | &nbsp;&nbsp;6203315 | &nbsp;&nbsp;&nbsp;&nbsp;5927184 |
| United Airlines 2019-1 Class A Pass Through Trust<br> 4.550%, 08/25/2031 | &nbsp;&nbsp;2120548 | &nbsp;&nbsp;&nbsp;&nbsp;1988870 |
| United Airlines 2020-1 Class A Pass Through Trust<br> 5.875%, 10/15/2027 | &nbsp;&nbsp;5611846 | &nbsp;&nbsp;&nbsp;&nbsp;5726321 |
| United Airlines 2023-1 Class A Pass Through Trust<br> 5.800%, 01/15/2036 | &nbsp;&nbsp;6290743 | &nbsp;&nbsp;&nbsp;&nbsp;6416602 |
| United Airlines 2024-1 Class A Pass Through Trust<br> 5.875%, 02/15/2037 | &nbsp;&nbsp;4366665 | &nbsp;&nbsp;&nbsp;&nbsp;4346341 |
| United Airlines 2024-1 Class AA Pass Through Trust<br> 5.450%, 02/15/2037 | &nbsp;&nbsp;4797880 | &nbsp;&nbsp;&nbsp;&nbsp;4842116 |
| Weir Group, Inc.<br> 5.350%, 05/06/2030 (A) | &nbsp;&nbsp;4112000 | &nbsp;&nbsp;&nbsp;&nbsp;4169568 |
|  |  | 131239571 |
| **Information technology – 2.2%** |  |  |
| Atlassian Corp.<br> 5.250%, 05/15/2029 | &nbsp;&nbsp;3608000 | &nbsp;&nbsp;&nbsp;&nbsp;3704666 |
| Broadcom, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.419%, 04/15/2033 (A) | 13250000 | &nbsp;&nbsp;&nbsp;12016805 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Information technology (continued)** |  |  |
| Broadcom, Inc. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;4.550%, 02/15/2032 | $&nbsp;&nbsp;2361000 | $&nbsp;&nbsp;&nbsp;&nbsp;2339157 |
| CDW LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.100%, 03/01/2030 | &nbsp;&nbsp;1946000 | &nbsp;&nbsp;&nbsp;&nbsp;1959622 |
| &nbsp;&nbsp;&nbsp;5.550%, 08/22/2034 | &nbsp;&nbsp;2595000 | &nbsp;&nbsp;&nbsp;&nbsp;2587825 |
| Dell International LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.300%, 04/01/2032 | &nbsp;&nbsp;5643000 | &nbsp;&nbsp;&nbsp;&nbsp;5767748 |
| &nbsp;&nbsp;&nbsp;5.400%, 04/15/2034 | &nbsp;&nbsp;8556000 | &nbsp;&nbsp;&nbsp;&nbsp;8713565 |
| Foundry JV Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, 01/25/2034 (A) | &nbsp;&nbsp;4745000 | &nbsp;&nbsp;&nbsp;&nbsp;4821527 |
| &nbsp;&nbsp;&nbsp;6.150%, 01/25/2032 (A) | &nbsp;&nbsp;9467000 | &nbsp;&nbsp;&nbsp;&nbsp;9961581 |
| Marvell Technology, Inc.<br> 5.950%, 09/15/2033 | &nbsp;&nbsp;7786000 | &nbsp;&nbsp;&nbsp;&nbsp;8222253 |
| Micron Technology, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.703%, 04/15/2032 | &nbsp;&nbsp;2913000 | &nbsp;&nbsp;&nbsp;&nbsp;2533981 |
| &nbsp;&nbsp;&nbsp;5.300%, 01/15/2031 | &nbsp;&nbsp;4201000 | &nbsp;&nbsp;&nbsp;&nbsp;4302080 |
| &nbsp;&nbsp;&nbsp;6.750%, 11/01/2029 | &nbsp;&nbsp;8359000 | &nbsp;&nbsp;&nbsp;&nbsp;9035321 |
| Motorola Solutions, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.300%, 11/15/2030 | &nbsp;&nbsp;7547000 | &nbsp;&nbsp;&nbsp;&nbsp;6699434 |
| &nbsp;&nbsp;&nbsp;2.750%, 05/24/2031 | &nbsp;&nbsp;7931000 | &nbsp;&nbsp;&nbsp;&nbsp;7110560 |
| Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, 02/03/2032 | &nbsp;&nbsp;4016000 | &nbsp;&nbsp;&nbsp;&nbsp;4119556 |
| &nbsp;&nbsp;&nbsp;5.550%, 02/06/2053 | &nbsp;&nbsp;8248000 | &nbsp;&nbsp;&nbsp;&nbsp;7756191 |
| Qorvo, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.375%, 04/01/2031 (A) | &nbsp;&nbsp;4008000 | &nbsp;&nbsp;&nbsp;&nbsp;3614259 |
| &nbsp;&nbsp;&nbsp;4.375%, 10/15/2029 | &nbsp;&nbsp;3050000 | &nbsp;&nbsp;&nbsp;&nbsp;2960070 |
| TD SYNNEX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.650%, 08/09/2031 | &nbsp;&nbsp;2185000 | &nbsp;&nbsp;&nbsp;&nbsp;1885741 |
| &nbsp;&nbsp;&nbsp;6.100%, 04/12/2034 | &nbsp;&nbsp;1669000 | &nbsp;&nbsp;&nbsp;&nbsp;1756530 |
| VMware LLC<br> 4.700%, 05/15/2030 | &nbsp;&nbsp;8158000 | &nbsp;&nbsp;&nbsp;&nbsp;8190387 |
|  |  | 120058859 |
| **Materials – 0.2%** |  |  |
| Cemex SAB de CV<br> 3.875%, 07/11/2031 (A) | &nbsp;&nbsp;5190000 | &nbsp;&nbsp;&nbsp;&nbsp;4784536 |
| Freeport-McMoRan, Inc.<br> 5.400%, 11/14/2034 | &nbsp;&nbsp;4785000 | &nbsp;&nbsp;&nbsp;&nbsp;4859828 |
| JH North America Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, 01/31/2031 (A) | &nbsp;&nbsp;1058000 | &nbsp;&nbsp;&nbsp;&nbsp;1067238 |
| &nbsp;&nbsp;&nbsp;6.125%, 07/31/2032 (A) | &nbsp;&nbsp;1588000 | &nbsp;&nbsp;&nbsp;&nbsp;1614367 |
|  |  | &nbsp;&nbsp;&nbsp;12325969 |
| **Real estate – 1.2%** |  |  |
| American Homes 4 Rent LP<br> 4.950%, 06/15/2030 | &nbsp;&nbsp;6438000 | &nbsp;&nbsp;&nbsp;&nbsp;6503703 |
| American Tower Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.200%, 02/15/2029 | &nbsp;&nbsp;4881000 | &nbsp;&nbsp;&nbsp;&nbsp;4994347 |
| &nbsp;&nbsp;&nbsp;5.550%, 07/15/2033 | &nbsp;&nbsp;4181000 | &nbsp;&nbsp;&nbsp;&nbsp;4312866 |
| &nbsp;&nbsp;&nbsp;5.650%, 03/15/2033 | &nbsp;&nbsp;4181000 | &nbsp;&nbsp;&nbsp;&nbsp;4357499 |
| CoStar Group, Inc.<br> 2.800%, 07/15/2030 (A) | &nbsp;&nbsp;7216000 | &nbsp;&nbsp;&nbsp;&nbsp;6519954 |
| GLP Capital LP |  |  |
| &nbsp;&nbsp;&nbsp;3.250%, 01/15/2032 | &nbsp;&nbsp;1916000 | &nbsp;&nbsp;&nbsp;&nbsp;1686299 |
| &nbsp;&nbsp;&nbsp;4.000%, 01/15/2030 | &nbsp;&nbsp;2026000 | &nbsp;&nbsp;&nbsp;&nbsp;1946968 |
| Prologis Targeted U.S. Logistics<br> Fund LP |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, 04/01/2029 (A) | &nbsp;&nbsp;6366000 | &nbsp;&nbsp;&nbsp;&nbsp;6540023 |
| &nbsp;&nbsp;&nbsp;5.250%, 01/15/2035 (A) | &nbsp;&nbsp;6686000 | &nbsp;&nbsp;&nbsp;&nbsp;6716916 |
| Regency Centers LP<br> 5.000%, 07/15/2032 | &nbsp;&nbsp;5222000 | &nbsp;&nbsp;&nbsp;&nbsp;5281715 |
| VICI Properties LP |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, 11/15/2031 | &nbsp;&nbsp;5875000 | &nbsp;&nbsp;&nbsp;&nbsp;5882290 |
| &nbsp;&nbsp;&nbsp;5.125%, 05/15/2032 | 10005000 | &nbsp;&nbsp;&nbsp;&nbsp;9968170 |
|  |  | &nbsp;&nbsp;&nbsp;64710750 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 79 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Select Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Utilities – 3.0%** |  |  |
| American Electric Power Company, Inc.<br> 5.625%, 03/01/2033 | $&nbsp;&nbsp;1903000 | $&nbsp;&nbsp;&nbsp;1978248 |
| Atlantica Transmision Sur SA<br> 6.875%, 04/30/2043 (A) | &nbsp;&nbsp;2391232 | &nbsp;&nbsp;&nbsp;2517243 |
| Capital Power US Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.257%, 06/01/2028 (A) | &nbsp;&nbsp;2149000 | &nbsp;&nbsp;&nbsp;2178109 |
| &nbsp;&nbsp;&nbsp;6.189%, 06/01/2035 (A) | &nbsp;&nbsp;3631000 | &nbsp;&nbsp;&nbsp;3746787 |
| CenterPoint Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.850%, (6.850% to 2-15-35, then 5 Year CMT + 2.946%), 02/15/2055 | &nbsp;&nbsp;4990000 | &nbsp;&nbsp;&nbsp;5162464 |
| &nbsp;&nbsp;&nbsp;7.000%, (7.000% to 2-15-30, then 5 Year CMT + 3.254%), 02/15/2055 | &nbsp;&nbsp;5018000 | &nbsp;&nbsp;&nbsp;5251941 |
| Constellation Energy Generation LLC<br> 6.500%, 10/01/2053 | &nbsp;&nbsp;3014000 | &nbsp;&nbsp;&nbsp;3234430 |
| Dominion Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.375%, 04/01/2030 | &nbsp;&nbsp;4662000 | &nbsp;&nbsp;&nbsp;4430420 |
| &nbsp;&nbsp;&nbsp;6.875%, (6.875% to 2-1-30, then 5 Year CMT + 2.386%), 02/01/2055 | &nbsp;&nbsp;3886000 | &nbsp;&nbsp;&nbsp;4088010 |
| &nbsp;&nbsp;&nbsp;7.000%, (7.000% to 6-1-34, then 5 Year CMT + 2.511%), 06/01/2054 | &nbsp;&nbsp;2015000 | &nbsp;&nbsp;&nbsp;2161958 |
| Duke Energy Carolinas LLC<br> 4.950%, 01/15/2033 | &nbsp;&nbsp;4993000 | &nbsp;&nbsp;&nbsp;5080346 |
| Duke Energy Corp.<br> 5.750%, 09/15/2033 | &nbsp;&nbsp;6099000 | &nbsp;&nbsp;&nbsp;6405773 |
| Electricite de France SA<br> 5.650%, 04/22/2029 (A) | &nbsp;&nbsp;7718000 | &nbsp;&nbsp;&nbsp;8007058 |
| Eversource Energy<br> 5.125%, 05/15/2033 | &nbsp;&nbsp;5079000 | &nbsp;&nbsp;&nbsp;5082748 |
| Exelon Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, 03/15/2031 | &nbsp;&nbsp;2378000 | &nbsp;&nbsp;&nbsp;2435799 |
| &nbsp;&nbsp;&nbsp;6.500%, (6.500% to 3-15-35, then 5 Year CMT + 1.975%), 03/15/2055 | &nbsp;&nbsp;1370000 | &nbsp;&nbsp;&nbsp;1393517 |
| Georgia Power Company<br> 4.950%, 05/17/2033 | &nbsp;&nbsp;3179000 | &nbsp;&nbsp;&nbsp;3203625 |
| Indianapolis Power & Light Company<br> 5.650%, 12/01/2032 (A) | &nbsp;&nbsp;8098000 | &nbsp;&nbsp;&nbsp;8330481 |
| National Grid PLC<br> 5.809%, 06/12/2033 | &nbsp;&nbsp;7098000 | &nbsp;&nbsp;&nbsp;7460022 |
| NextEra Energy Capital Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.250%, 06/01/2030 | 12135000 | 10928560 |
| &nbsp;&nbsp;&nbsp;6.375%, (6.375% to 8-15-30, then 5 Year CMT + 2.053%), 08/15/2055 | &nbsp;&nbsp;3173000 | &nbsp;&nbsp;&nbsp;3240127 |
| &nbsp;&nbsp;&nbsp;6.500%, (6.500% to 8-15-35, then 5 Year CMT + 1.979%), 08/15/2055 | &nbsp;&nbsp;1142000 | &nbsp;&nbsp;&nbsp;1167353 |
| &nbsp;&nbsp;&nbsp;6.700%, (6.700% to 9-1-29, then 5 Year CMT + 2.364%), 09/01/2054 | &nbsp;&nbsp;2781000 | &nbsp;&nbsp;&nbsp;2865704 |
| NiSource, Inc.<br> 3.600%, 05/01/2030 | &nbsp;&nbsp;4265000 | &nbsp;&nbsp;&nbsp;4090886 |
| NRG Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.450%, 06/15/2029 (A) | &nbsp;&nbsp;4211000 | &nbsp;&nbsp;&nbsp;4142889 |
| &nbsp;&nbsp;&nbsp;7.000%, 03/15/2033 (A) | &nbsp;&nbsp;5799000 | &nbsp;&nbsp;&nbsp;6365533 |
| Pacific Gas & Electric Company |  |  |
| &nbsp;&nbsp;&nbsp;4.950%, 07/01/2050 | &nbsp;&nbsp;2999000 | &nbsp;&nbsp;&nbsp;2417218 |
| &nbsp;&nbsp;&nbsp;5.800%, 05/15/2034 | &nbsp;&nbsp;4575000 | &nbsp;&nbsp;&nbsp;4574077 |
| Sempra |  |  |
| &nbsp;&nbsp;&nbsp;5.500%, 08/01/2033 | &nbsp;&nbsp;5256000 | &nbsp;&nbsp;&nbsp;5364993 |
| &nbsp;&nbsp;&nbsp;6.400%, (6.400% to 10-1-34, then 5 Year CMT + 2.632%), 10/01/2054 | &nbsp;&nbsp;4971000 | &nbsp;&nbsp;&nbsp;4719103 |
| &nbsp;&nbsp;&nbsp;6.875%, (6.875% to 10-1-29, then 5 Year CMT + 2.789%), 10/01/2054 | &nbsp;&nbsp;3793000 | &nbsp;&nbsp;&nbsp;3825010 |
| The Southern Company |  |  |
| &nbsp;&nbsp;&nbsp;5.200%, 06/15/2033 | &nbsp;&nbsp;2123000 | &nbsp;&nbsp;&nbsp;2160039 |
| &nbsp;&nbsp;&nbsp;5.700%, 03/15/2034 | &nbsp;&nbsp;4792000 | &nbsp;&nbsp;&nbsp;5007510 |
| &nbsp;&nbsp;&nbsp;6.375%, (6.375% to 3-15-35, then 5 Year CMT + 2.069%), 03/15/2055 | &nbsp;&nbsp;5146000 | &nbsp;&nbsp;&nbsp;5295095 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Utilities (continued)** |  |  |
| Vistra Operations Company LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.300%, 07/15/2029 (A) | 8669000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8541735 |
| &nbsp;&nbsp;&nbsp;6.000%, 04/15/2034 (A) | 6393000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6638875 |
| &nbsp;&nbsp;&nbsp;6.950%, 10/15/2033 (A) | 4932000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5415755 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;168909441 |
| TOTAL CORPORATE BONDS (Cost $1,613,024,893) |  | $1617794039 |
| **MUNICIPAL BONDS – 0.4%** |  |  |
| Foothill-Eastern Transportation Corridor Agency (California)<br> 4.094%, 01/15/2049 | 5178000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4149962 |
| Golden State Tobacco Securitization Corp. (California)<br> 4.214%, 06/01/2050 | 4967000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3577364 |
| Maryland Health & Higher Educational Facilities Authority<br> 3.197%, 07/01/2050 | 8929000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5912482 |
| Ohio Turnpike & Infrastructure Commission<br> 3.216%, 02/15/2048 | 2540000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1838099 |
| Regents of the University of California Medical Center<br> 3.006%, 05/15/2050 | 8900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5736483 |
| TOTAL MUNICIPAL BONDS (Cost $30,628,737) | TOTAL MUNICIPAL BONDS (Cost $30,628,737) | $&nbsp;&nbsp;&nbsp;&nbsp;21214390 |
| **COLLATERALIZED MORTGAGE OBLIGATIONS – 4.9%** | **COLLATERALIZED MORTGAGE OBLIGATIONS – 4.9%** |  |
| **Commercial and residential – 3.8%** |  |  |
| Angel Oak Mortgage Trust LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-R1, Class A1,<br> 0.990%, 04/25/2053 (A)(D) | 1289770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1226373 |
| &nbsp;&nbsp;&nbsp;Series 2021-4, Class A1,<br> 1.035%, 01/20/2065 (A)(D) | 4279938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3608098 |
| &nbsp;&nbsp;&nbsp;Series 2021-5, Class A1,<br> 0.951%, 07/25/2066 (A)(D) | 3572577 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3092088 |
| &nbsp;&nbsp;&nbsp;Series 2024-3, Class A1 (4.800% to 2-1-28, then 5.800% thereafter),<br> 4.800%, 11/26/2068 (A) | 4077952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4057564 |
| &nbsp;&nbsp;&nbsp;Series 2024-5, Class A1 (4.950% to 4-1-28, then 5.950% thereafter),<br> 4.950%, 07/25/2068 (A) | 6542894 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6486027 |
| Arroyo Mortgage Trust<br> Series 2021-1R, Class A1<br> 1.175%, 10/25/2048 (A)(D) | 1995126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1798563 |
| BAHA Trust<br> Series 2024-MAR, Class A<br> 6.171%, 12/10/2041 (A)(D) | 5739000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5941225 |
| BBCMS Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-C6, Class A2,<br> 2.690%, 02/15/2053 | 1415963 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1327686 |
| &nbsp;&nbsp;&nbsp;Series 2024-5C29, Class A3,<br> 5.208%, 09/15/2057 | 7135000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7276530 |
| &nbsp;&nbsp;&nbsp;Series 2024-5C31, Class A3,<br> 5.609%, 12/15/2057 | 1692000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1753847 |
| Benchmark Mortgage Trust<br> Series 2024-V12, Class A3<br> 5.738%, 12/15/2057 | 5560000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5790945 |
| BMO Mortgage Trust<br> Series 2024-5C8, Class A3<br> 5.625%, 12/15/2057 (D) | 1751000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1817013 |
| BRAVO Residential Funding Trust<br> Series 2021-NQM1, Class A1<br> 0.941%, 02/25/2049 (A)(D) | 1662776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1554182 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 80 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Select Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| BX Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-OC11, Class A,<br> 3.202%, 12/09/2041 (A) | $&nbsp;&nbsp;2429000 | $&nbsp;&nbsp;&nbsp;2264766 |
| &nbsp;&nbsp;&nbsp;Series 2021-MFM1, Class D (1 month CME Term SOFR + 1.614%),<br> 5.926%, 01/15/2034 (A)(E) | &nbsp;&nbsp;1344000 | &nbsp;&nbsp;&nbsp;1343580 |
| &nbsp;&nbsp;&nbsp;Series 2022-CLS, Class A,<br> 5.760%, 10/13/2027 (A) | &nbsp;&nbsp;3485000 | &nbsp;&nbsp;&nbsp;3527615 |
| BXHPP Trust<br> Series 2021-FILM, Class C (1 month CME Term SOFR + 1.214%)<br> 5.526%, 08/15/2036 (A)(E) | 11543000 | 10370932 |
| Cantor Commercial Real Estate Lending<br> Series 2019-CF1, Class A2<br> 3.623%, 05/15/2052 | &nbsp;&nbsp;5705692 | &nbsp;&nbsp;&nbsp;5455347 |
| Citigroup Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-GC46, Class A2,<br> 2.708%, 02/15/2053 | &nbsp;&nbsp;2381317 | &nbsp;&nbsp;&nbsp;2336186 |
| &nbsp;&nbsp;&nbsp;Series 2023-SMRT, Class A,<br> 6.015%, 10/12/2040 (A)(D) | &nbsp;&nbsp;4564000 | &nbsp;&nbsp;&nbsp;4713811 |
| COLT Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-2, Class A1,<br> 0.924%, 08/25/2066 (A)(D) | &nbsp;&nbsp;2446768 | &nbsp;&nbsp;&nbsp;2055600 |
| &nbsp;&nbsp;&nbsp;Series 2021-3, Class A1,<br> 0.956%, 09/27/2066 (A)(D) | &nbsp;&nbsp;2603894 | &nbsp;&nbsp;&nbsp;2170873 |
| &nbsp;&nbsp;&nbsp;Series 2021-HX1, Class A1,<br> 1.110%, 10/25/2066 (A)(D) | &nbsp;&nbsp;2581939 | &nbsp;&nbsp;&nbsp;2215817 |
| COLT Trust<br> Series 2020-RPL1, Class A1<br> 1.390%, 01/25/2065 (A)(D) | &nbsp;&nbsp;6110556 | &nbsp;&nbsp;&nbsp;5265028 |
| Commercial Mortgage Trust (Cantor Fitzgerald/Deutsche Bank AG)<br> Series 2020-CX, Class D<br> 2.773%, 11/10/2046 (A)(D) | &nbsp;&nbsp;2811000 | &nbsp;&nbsp;&nbsp;2290203 |
| Credit Suisse Mortgage<br> Capital Certificates |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-AFC1, Class A1,<br> 0.830%, 03/25/2056 (A)(D) | &nbsp;&nbsp;5184922 | &nbsp;&nbsp;&nbsp;4257010 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM2, Class A1,<br> 1.179%, 02/25/2066 (A)(D) | &nbsp;&nbsp;1069729 | &nbsp;&nbsp;&nbsp;&nbsp;958185 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM3, Class A1,<br> 1.015%, 04/25/2066 (A)(D) | &nbsp;&nbsp;1690504 | &nbsp;&nbsp;&nbsp;1454266 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM6, Class A1,<br> 1.174%, 07/25/2066 (A)(D) | &nbsp;&nbsp;3923081 | &nbsp;&nbsp;&nbsp;3284317 |
| &nbsp;&nbsp;&nbsp;Series 2021-RPL2, Class A1A,<br> 1.115%, 01/25/2060 (A)(D) | &nbsp;&nbsp;5672171 | &nbsp;&nbsp;&nbsp;4784405 |
| DBJPM Mortgage Trust<br> Series 2020-C9, Class A2<br> 1.900%, 08/15/2053 | &nbsp;&nbsp;3086883 | &nbsp;&nbsp;&nbsp;3057116 |
| Deephaven Residential Mortgage Trust<br> Series 2021-2, Class A1<br> 0.899%, 04/25/2066 (A)(D) | &nbsp;&nbsp;2971788 | &nbsp;&nbsp;&nbsp;2625004 |
| Ellington Financial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1, Class A1,<br> 0.797%, 02/25/2066 (A)(D) | &nbsp;&nbsp;&nbsp;&nbsp;513029 | &nbsp;&nbsp;&nbsp;&nbsp;439578 |
| &nbsp;&nbsp;&nbsp;Series 2021-2, Class A1,<br> 0.931%, 06/25/2066 (A)(D) | &nbsp;&nbsp;1696168 | &nbsp;&nbsp;&nbsp;1416242 |
| Flagstar Mortgage Trust<br> Series 2021-1, Class A2<br> 2.500%, 02/01/2051 (A)(D) | &nbsp;&nbsp;6410867 | &nbsp;&nbsp;&nbsp;5217846 |
| GCAT Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM1, Class A1,<br> 0.874%, 01/25/2066 (A)(D) | &nbsp;&nbsp;1177491 | &nbsp;&nbsp;&nbsp;1051030 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| GCAT Trust (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM2, Class A1,<br> 1.036%, 05/25/2066 (A)(D) | $1352185 | $1155619 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM3, Class A1,<br> 1.091%, 05/25/2066 (A)(D) | 2663384 | 2308999 |
| GS Mortgage-Backed Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-NQM1, Class A1,<br> 1.382%, 09/27/2060 (A)(D) | &nbsp;&nbsp;628886 | &nbsp;&nbsp;&nbsp;&nbsp;594422 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM1, Class A1,<br> 1.017%, 07/25/2061 (A)(D) | 1704198 | 1527979 |
| Hudson Yards Mortgage Trust<br> Series 2025-SPRL, Class A<br> 5.649%, 01/13/2040 (A)(D) | 4732000 | 4877989 |
| Imperial Fund Mortgage Trust<br> Series 2021-NQM1, Class A1<br> 1.071%, 06/25/2056 (A)(D) | 2242843 | 1951225 |
| MFA Trust<br> Series 2021-NQM1, Class A1<br> 1.153%, 04/25/2065 (A)(D) | 1357391 | 1270144 |
| New Residential Mortgage Loan Trust<br> Series 2020-1A, Class A1B<br> 3.500%, 10/25/2059 (A)(D) | 1876922 | 1759353 |
| NMLT Trust<br> Series 2021-INV1, Class A1<br> 1.185%, 05/25/2056 (A)(D) | 4362044 | 3816787 |
| NXPT Commercial Mortgage Trust<br> Series 2024-STOR, Class A<br> 4.455%, 11/05/2041 (A)(D) | 2963000 | 2911764 |
| NYMT Loan Trust<br> Series 2022-CP1, Class A1<br> 2.042%, 07/25/2061 (A) | 1245033 | 1166971 |
| OBX Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-EXP2, Class A3,<br> 2.500%, 05/25/2060 (A)(D) | 1641744 | 1390402 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM2, Class A1,<br> 1.101%, 05/25/2061 (A)(D) | 3068577 | 2531938 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM3, Class A1,<br> 1.054%, 07/25/2061 (A)(D) | 2866169 | 2345017 |
| Provident Funding Mortgage Trust<br> Series 2020-F1, Class A2<br> 2.000%, 01/25/2036 (A)(D) | 3807722 | 3386287 |
| ROCK Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-CNTR, Class A,<br> 5.388%, 11/13/2041 (A) | 4734000 | 4842812 |
| &nbsp;&nbsp;&nbsp;Series 2024-CNTR, Class D,<br> 7.109%, 11/13/2041 (A) | 5978000 | 6243130 |
| SLG Office Trust<br> Series 2021-OVA, Class C<br> 2.851%, 07/15/2041 (A) | 8579000 | 7495679 |
| Starwood Mortgage Residential Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-2, Class A1,<br> 0.943%, 05/25/2065 (A)(D) | 1163557 | 1089583 |
| &nbsp;&nbsp;&nbsp;Series 2022-1, Class A1,<br> 2.447%, 12/25/2066 (A)(D) | 4462219 | 4040909 |
| Towd Point Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-4, Class A1,<br> 3.000%, 06/25/2058 (A)(D) | 1881021 | 1780183 |
| &nbsp;&nbsp;&nbsp;Series 2019-4, Class A1,<br> 2.900%, 10/25/2059 (A)(D) | 2187234 | 2098972 |
| &nbsp;&nbsp;&nbsp;Series 2020-4, Class A1,<br> 1.750%, 10/25/2060 (A) | 3003319 | 2720311 |
| &nbsp;&nbsp;&nbsp;Series 2024-1, Class A1,<br> 4.824%, 03/25/2064 (A)(D) | 5719868 | 5809031 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 81 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Select Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| Towd Point Mortgage Trust (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-3, Class A1A,<br> 5.107%, 07/25/2065 (A)(D) | $&nbsp;&nbsp;3233480 | $&nbsp;&nbsp;&nbsp;&nbsp;3296081 |
| &nbsp;&nbsp;&nbsp;Series 2024-4, Class A1A,<br> 4.435%, 10/27/2064 (A)(D) | &nbsp;&nbsp;2201523 | &nbsp;&nbsp;&nbsp;&nbsp;2211637 |
| VDCM Commercial Mortgage Trust<br> Series 2025-AZ, Class A<br> 5.229%, 07/13/2044 (A)(D) | &nbsp;&nbsp;3228000 | &nbsp;&nbsp;&nbsp;&nbsp;3228000 |
| Verus Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-5, Class A1,<br> 2.218%, 05/25/2065 (A) | &nbsp;&nbsp;&nbsp;&nbsp;821459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;794856 |
| &nbsp;&nbsp;&nbsp;Series 2021-1, Class A1,<br> 0.815%, 01/25/2066 (A)(D) | &nbsp;&nbsp;1970981 | &nbsp;&nbsp;&nbsp;&nbsp;1756707 |
| &nbsp;&nbsp;&nbsp;Series 2021-3, Class A1,<br> 1.046%, 06/25/2066 (A)(D) | &nbsp;&nbsp;2551221 | &nbsp;&nbsp;&nbsp;&nbsp;2238359 |
| &nbsp;&nbsp;&nbsp;Series 2021-4, Class A1,<br> 0.938%, 07/25/2066 (A)(D) | &nbsp;&nbsp;1130986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;938428 |
| &nbsp;&nbsp;&nbsp;Series 2021-5, Class A1,<br> 1.013%, 09/25/2066 (A)(D) | &nbsp;&nbsp;2302425 | &nbsp;&nbsp;&nbsp;&nbsp;1979238 |
| &nbsp;&nbsp;&nbsp;Series 2021-R2, Class A1,<br> 0.918%, 02/25/2064 (A)(D) | &nbsp;&nbsp;1921076 | &nbsp;&nbsp;&nbsp;&nbsp;1776367 |
| Visio Trust<br> Series 2020-1R, Class A1<br> 1.312%, 11/25/2055 (A) | &nbsp;&nbsp;1109017 | &nbsp;&nbsp;&nbsp;&nbsp;1062459 |
| Wells Fargo Commercial Mortgage Trust<br> Series 2025-5C4, Class A3<br> 5.673%, 05/15/2058 | &nbsp;&nbsp;3175000 | &nbsp;&nbsp;&nbsp;&nbsp;3308161 |
| WHARF Commercial Mortgage Trust<br> Series 2025-DC, Class A<br> 5.349%, 07/15/2040 (A)(D) | &nbsp;&nbsp;2231000 | &nbsp;&nbsp;&nbsp;&nbsp;2274397 |
|  |  | 212265094 |
| **U.S. Government Agency – 1.1%** |  |  |
| Government National<br> Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;Series 2012-114, Class IO,<br> 0.630%, 01/16/2053 | 11598710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182188 |
| &nbsp;&nbsp;&nbsp;Series 2016-174, Class IO,<br> 0.888%, 11/16/2056 | &nbsp;&nbsp;9193662 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;384939 |
| &nbsp;&nbsp;&nbsp;Series 2017-109, Class IO,<br> 0.229%, 04/16/2057 | 11097545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141608 |
| &nbsp;&nbsp;&nbsp;Series 2017-124, Class IO,<br> 0.626%, 01/16/2059 | 11479711 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400355 |
| &nbsp;&nbsp;&nbsp;Series 2017-135, Class IO,<br> 0.697%, 10/16/2058 | 34667878 | &nbsp;&nbsp;&nbsp;&nbsp;1135390 |
| &nbsp;&nbsp;&nbsp;Series 2017-140, Class IO,<br> 0.485%, 02/16/2059 | 18210047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;496674 |
| &nbsp;&nbsp;&nbsp;Series 2017-159, Class IO,<br> 0.430%, 06/16/2059 | 26057693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;664351 |
| &nbsp;&nbsp;&nbsp;Series 2017-20, Class IO,<br> 0.517%, 12/16/2058 | 24164315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;546664 |
| &nbsp;&nbsp;&nbsp;Series 2017-22, Class IO,<br> 0.775%, 12/16/2057 | 11136370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;410628 |
| &nbsp;&nbsp;&nbsp;Series 2017-41, Class IO,<br> 0.561%, 07/16/2058 | &nbsp;&nbsp;7902454 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209875 |
| &nbsp;&nbsp;&nbsp;Series 2017-46, Class IO,<br> 0.652%, 11/16/2057 | 12188886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460277 |
| &nbsp;&nbsp;&nbsp;Series 2017-61, Class IO,<br> 0.700%, 05/16/2059 | 13930179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;503278 |
| &nbsp;&nbsp;&nbsp;Series 2018-158, Class IO,<br> 0.795%, 05/16/2061 | 19360860 | &nbsp;&nbsp;&nbsp;&nbsp;1147021 |
| &nbsp;&nbsp;&nbsp;Series 2018-69, Class IO,<br> 0.608%, 04/16/2060 | 20414156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;922289 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Government National<br> Mortgage Association (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-131, Class IO,<br> 0.803%, 07/16/2061 | 25933512 | $&nbsp;&nbsp;&nbsp;&nbsp;1485202 |
| &nbsp;&nbsp;&nbsp;Series 2020-100, Class IO,<br> 0.786%, 05/16/2062 | 27529814 | &nbsp;&nbsp;&nbsp;&nbsp;1656444 |
| &nbsp;&nbsp;&nbsp;Series 2020-108, Class IO,<br> 0.847%, 06/16/2062 | 66414287 | &nbsp;&nbsp;&nbsp;&nbsp;3846390 |
| &nbsp;&nbsp;&nbsp;Series 2020-114, Class IO,<br> 0.800%, 09/16/2062 | 65132638 | &nbsp;&nbsp;&nbsp;&nbsp;3531980 |
| &nbsp;&nbsp;&nbsp;Series 2020-118, Class IO,<br> 0.884%, 06/16/2062 | 47994103 | &nbsp;&nbsp;&nbsp;&nbsp;2532946 |
| &nbsp;&nbsp;&nbsp;Series 2020-119, Class IO,<br> 0.607%, 08/16/2062 | 26418978 | &nbsp;&nbsp;&nbsp;&nbsp;1231397 |
| &nbsp;&nbsp;&nbsp;Series 2020-120, Class IO,<br> 0.769%, 05/16/2062 | 14584698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;856036 |
| &nbsp;&nbsp;&nbsp;Series 2020-137, Class IO,<br> 0.797%, 09/16/2062 | 85153476 | &nbsp;&nbsp;&nbsp;&nbsp;4942401 |
| &nbsp;&nbsp;&nbsp;Series 2020-150, Class IO,<br> 0.965%, 12/16/2062 | 43115943 | &nbsp;&nbsp;&nbsp;&nbsp;3032599 |
| &nbsp;&nbsp;&nbsp;Series 2020-170, Class IO,<br> 0.835%, 11/16/2062 | 55886641 | &nbsp;&nbsp;&nbsp;&nbsp;3621225 |
| &nbsp;&nbsp;&nbsp;Series 2020-92, Class IO,<br> 0.881%, 02/16/2062 | 63275385 | &nbsp;&nbsp;&nbsp;&nbsp;3647649 |
| &nbsp;&nbsp;&nbsp;Series 2021-10, Class IO,<br> 0.986%, 05/16/2063 | 40265122 | &nbsp;&nbsp;&nbsp;&nbsp;2977763 |
| &nbsp;&nbsp;&nbsp;Series 2021-11, Class IO,<br> 1.021%, 12/16/2062 | 62452666 | &nbsp;&nbsp;&nbsp;&nbsp;4573971 |
| &nbsp;&nbsp;&nbsp;Series 2021-203, Class IO,<br> 0.870%, 07/16/2063 | 52999719 | &nbsp;&nbsp;&nbsp;&nbsp;3458332 |
| &nbsp;&nbsp;&nbsp;Series 2021-3, Class IO,<br> 0.870%, 09/16/2062 | 73375520 | &nbsp;&nbsp;&nbsp;&nbsp;4702402 |
| &nbsp;&nbsp;&nbsp;Series 2021-40, Class IO,<br> 0.822%, 02/16/2063 | 18994612 | &nbsp;&nbsp;&nbsp;&nbsp;1172448 |
| &nbsp;&nbsp;&nbsp;Series 2022-181, Class IO,<br> 0.719%, 07/16/2064 | 20078111 | &nbsp;&nbsp;&nbsp;&nbsp;1229674 |
| &nbsp;&nbsp;&nbsp;Series 2022-21, Class IO,<br> 0.785%, 10/16/2063 | 18212507 | &nbsp;&nbsp;&nbsp;&nbsp;1023765 |
| &nbsp;&nbsp;&nbsp;Series 2023-197, Class IO,<br> 1.241%, 09/16/2065 | 13111509 | &nbsp;&nbsp;&nbsp;&nbsp;1117443 |
|  |  | &nbsp;&nbsp;&nbsp;58245604 |
| TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $347,225,100) | TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $347,225,100) | $270510698 |
| **ASSET-BACKED SECURITIES – 7.4%** | **ASSET-BACKED SECURITIES – 7.4%** |  |
| ABPCI Direct Lending Fund I, Ltd.<br> Series 2020-1A, Class A<br> 3.199%, 12/29/2030 (A) | &nbsp;&nbsp;3821576 | &nbsp;&nbsp;&nbsp;&nbsp;3762641 |
| AGL Core CLO, Ltd.<br> Series 2024-31A, Class A (3 month CME Term SOFR + 1.400%)<br> 5.669%, 07/20/2037 (A)(E) | &nbsp;&nbsp;5442000 | &nbsp;&nbsp;&nbsp;&nbsp;5459861 |
| Aligned Data Centers Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2<br> 1.937%, 08/15/2046 (A) | &nbsp;&nbsp;1331000 | &nbsp;&nbsp;&nbsp;&nbsp;1286455 |
| &nbsp;&nbsp;&nbsp;Series 2023-2A, Class A2<br> 6.500%, 11/16/2048 (A) | &nbsp;&nbsp;4198000 | &nbsp;&nbsp;&nbsp;&nbsp;4283683 |
| AMSR Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-SFR1, Class B<br> 2.153%, 06/17/2038 (A) | &nbsp;&nbsp;4329000 | &nbsp;&nbsp;&nbsp;&nbsp;4032994 |
| &nbsp;&nbsp;&nbsp;Series 2025-SFR1, Class A<br> 3.655%, 06/17/2042 (A) | &nbsp;&nbsp;1763000 | &nbsp;&nbsp;&nbsp;&nbsp;1682562 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 82 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Select Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET-BACKED SECURITIES (continued)** | **ASSET-BACKED SECURITIES (continued)** |  |
| Aqua Finance Trust<br> Series 2021-A, Class A<br> 1.540%, 07/17/2046 (A) | $1350909 | $1243102 |
| Arby's Funding LLC<br> Series 2020-1A, Class A2<br> 3.237%, 07/30/2050 (A) | 7497128 | 7151206 |
| Avis Budget Rental Car Funding AESOP LLC<br> Series 2024-1A, Class A<br> 5.360%, 06/20/2030 (A) | 5559000 | 5703757 |
| Beacon Container Finance II LLC<br> Series 2021-1A, Class A<br> 2.250%, 10/22/2046 (A) | 5314300 | 4882799 |
| Capital Automotive REIT |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-2A, Class A1<br> 4.900%, 05/15/2054 (A) | 1211140 | 1206837 |
| &nbsp;&nbsp;&nbsp;Series 2024-3A, Class A1<br> 4.400%, 10/15/2054 (A) | 4021620 | 3912777 |
| CARS-DB7 LP<br> Series 2023-1A, Class A1<br> 5.750%, 09/15/2053 (A) | 7376698 | 7429141 |
| CARS-DB8 LP<br> Series 2024-2A, Class A2<br> 5.250%, 05/15/2054 (A) | 1897946 | 1884085 |
| CF Hippolyta Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-1, Class A1<br> 1.690%, 07/15/2060 (A) | 5917495 | 5854172 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A1<br> 1.530%, 03/15/2061 (A) | 5600023 | 5387915 |
| CLI Funding IX LLC<br> Series 2025-1A, Class A<br> 5.350%, 06/20/2050 (A) | 3528000 | 3555744 |
| CLI Funding VI LLC<br> Series 2020-1A, Class A<br> 2.080%, 09/18/2045 (A) | 5663568 | 5260951 |
| CLI Funding VIII LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A<br> 1.640%, 02/18/2046 (A) | 3829775 | 3511011 |
| &nbsp;&nbsp;&nbsp;Series 2022-1A, Class A<br> 2.720%, 01/18/2047 (A) | 2654939 | 2422655 |
| Cloud Capital Holdco LP<br> Series 2024-2A, Class A2<br> 5.923%, 11/22/2049 (A) | 3609000 | 3621948 |
| Compass Datacenters Issuer II LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-1A, Class A1<br> 5.250%, 02/25/2049 (A) | 4135000 | 4157071 |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class A1<br> 5.316%, 05/25/2050 (A) | 3200000 | 3245633 |
| Compass Datacenters Issuer III LLC<br> Series 2025-2A, Class A2<br> 5.835%, 02/25/2050 (A) | 1873000 | 1893605 |
| Consolidated Communications LLC<br> Series 2025-1A, Class A2<br> 6.000%, 05/20/2055 (A) | 3904000 | 4025728 |
| CyrusOne Data Centers Issuer I LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2023-1A, Class A2<br> 4.300%, 04/20/2048 (A) | 6638000 | 6476811 |
| &nbsp;&nbsp;&nbsp;Series 2024-2A, Class A2<br> 4.500%, 05/20/2049 (A) | 6239000 | 6075420 |
| DataBank Issuer |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2<br> 2.060%, 02/27/2051 (A) | 8989000 | 8792936 |
| &nbsp;&nbsp;&nbsp;Series 2021-2A, Class A2<br> 2.400%, 10/25/2051 (A) | 6603000 | 6351317 |
| DB Master Finance LLC<br> Series 2017-1A, Class A2II<br> 4.030%, 11/20/2047 (A) | 2724995 | 2695890 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET-BACKED SECURITIES (continued)** | **ASSET-BACKED SECURITIES (continued)** |  |
| Diamond Infrastructure Funding LLC<br> Series 2021-1A, Class A<br> 1.760%, 04/15/2049 (A) | $6287000 | $5979845 |
| Domino's Pizza Master Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-1A, Class A2<br> 3.668%, 10/25/2049 (A) | 2664000 | 2537950 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2I<br> 2.662%, 04/25/2051 (A) | 5659950 | 5280957 |
| Driven Brands Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-2A, Class A2<br> 3.237%, 01/20/2051 (A) | 5269298 | 5035413 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2<br> 2.791%, 10/20/2051 (A) | 6276653 | 5865786 |
| &nbsp;&nbsp;&nbsp;Series 2024-1A, Class A2<br> 6.372%, 10/20/2054 (A) | 7189670 | 7441436 |
| ExteNet Issuer LLC<br> Series 2024-1A, Class A2<br> 5.335%, 07/25/2054 (A) | 6316000 | 6330844 |
| FirstKey Homes Trust<br> Series 2021-SFR1, Class C<br> 1.888%, 08/17/2038 (A) | 6871000 | 6613954 |
| GM Financial Revolving Receivables Trust<br> Series 2024-1, Class A<br> 4.980%, 12/11/2036 (A) | 3257000 | 3329007 |
| GMF Floorplan Owner Revolving Trust<br> Series 2024-2A, Class A<br> 5.060%, 03/15/2031 (A) | 7413000 | 7593207 |
| Golub Capital Partners Funding, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-1A, Class A2<br> 3.208%, 01/22/2029 (A) | 1758221 | 1750483 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2<br> 2.773%, 04/20/2029 (A) | 3837866 | 3818448 |
| HI-FI Music IP Issuer LP<br> Series 2022-1A, Class A2<br> 3.939%, 02/01/2062 (A) | 6407000 | 6258123 |
| Hotwire Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1, Class A2<br> 2.311%, 11/20/2051 (A) | 5301000 | 5100770 |
| &nbsp;&nbsp;&nbsp;Series 2023-1A, Class A2<br> 5.687%, 05/20/2053 (A) | 5519000 | 5554560 |
| Invitation Homes Trust<br> Series 2024-SFR1, Class A<br> 4.000%, 09/17/2041 (A) | 6355114 | 6192392 |
| Jersey Mike's Funding LLC<br> Series 2024-1A, Class A2<br> 5.636%, 02/15/2055 (A) | 4771043 | 4845497 |
| MetroNet Infrastructure Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2023-1A, Class A2<br> 6.560%, 04/20/2053 (A) | 3616000 | 3701748 |
| &nbsp;&nbsp;&nbsp;Series 2024-1A, Class A2<br> 6.230%, 04/20/2054 (A) | 5456000 | 5575269 |
| Monroe Capital Funding, Ltd.<br> Series 2021-1A, Class A2<br> 2.815%, 04/22/2031 (A) | 4569529 | 4523785 |
| Navient Student Loan Trust<br> Series 2020-2A, Class A1A<br> 1.320%, 08/26/2069 (A) | 2311475 | 2029861 |
| Neighborly Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2<br> 3.584%, 04/30/2051 (A) | 7652160 | 7156226 |
| &nbsp;&nbsp;&nbsp;Series 2022-1A, Class A2<br> 3.695%, 01/30/2052 (A) | 2957648 | 2742748 |
| New Economy Assets Phase 1<br> Sponsor LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1, Class A1<br> 1.910%, 10/20/2061 (A) | 8463000 | 7967812 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 83 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Select Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET-BACKED SECURITIES (continued)** | **ASSET-BACKED SECURITIES (continued)** |  |
| New Economy Assets Phase 1<br> Sponsor LLC (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1, Class B1<br> 2.410%, 10/20/2061 (A) | $4174000 | $3826896 |
| NRZ Excess Spread-Collateralized Notes |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-PLS1, Class A<br> 3.844%, 12/25/2025 (A) | &nbsp;&nbsp;851625 | &nbsp;&nbsp;&nbsp;&nbsp;843066 |
| &nbsp;&nbsp;&nbsp;Series 2021-FHT1, Class A<br> 3.104%, 07/25/2026 (A) | &nbsp;&nbsp;769666 | &nbsp;&nbsp;&nbsp;&nbsp;751276 |
| Palmer Square CLO, Ltd.<br> Series 2024-2A, Class A1 (3 month CME Term SOFR + 1.400%)<br> 5.669%, 07/20/2037 (A)(E) | 2964000 | 2972848 |
| Progress Residential Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-SFR1, Class A<br> 3.350%, 02/17/2041 (A) | 4993130 | 4781749 |
| &nbsp;&nbsp;&nbsp;Series 2025-SFR1, Class A<br> 3.400%, 02/17/2042 (A) | 4080000 | 3865758 |
| &nbsp;&nbsp;&nbsp;Series 2025-SFR2, Class A<br> 3.305%, 04/17/2042 (A) | 2702000 | 2543792 |
| Retained Vantage Data Centers Issuer LLC<br> Series 2023-1A, Class A2A<br> 5.000%, 09/15/2048 (A) | 6011000 | 5959467 |
| RIN II, Ltd.<br> Series 2019-1A, Class AR (3 month CME Term SOFR + 1.480%)<br> 5.736%, 01/15/2038 (A)(E) | 3022000 | 3029325 |
| RIN XII LLC<br> Series 2025-1A, Class A1 (3 month CME Term SOFR + 1.300%)<br> 5.625%, 04/15/2038 (A)(E) | 3091000 | 3087439 |
| SEB Funding LLC<br> Series 2024-1A, Class A2<br> 7.386%, 04/30/2054 (A) | 6701000 | 6852597 |
| SERVPRO Master Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2<br> 2.394%, 04/25/2051 (A) | 3998400 | 3728244 |
| &nbsp;&nbsp;&nbsp;Series 2024-1A, Class A2<br> 6.174%, 01/25/2054 (A) | 2661313 | 2741571 |
| SMB Private Education Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-A, Class APT2<br> 1.070%, 01/15/2053 (A) | 1366921 | 1230422 |
| &nbsp;&nbsp;&nbsp;Series 2024-A, Class A1A<br> 5.240%, 03/15/2056 (A) | 5331770 | 5421517 |
| &nbsp;&nbsp;&nbsp;Series 2024-E, Class A1A<br> 5.090%, 10/16/2056 (A) | 4077504 | 4117155 |
| Sonic Capital LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-1A, Class A2I<br> 3.845%, 01/20/2050 (A) | 4608922 | 4510414 |
| &nbsp;&nbsp;&nbsp;Series 2020-1A, Class A2II<br> 4.336%, 01/20/2050 (A) | 4098828 | 3914530 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2I<br> 2.190%, 08/20/2051 (A) | 4406325 | 4022710 |
| Subway Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-1A, Class A2I<br> 6.028%, 07/30/2054 (A) | 2882515 | 2931223 |
| &nbsp;&nbsp;&nbsp;Series 2024-1A, Class A2II<br> 6.268%, 07/30/2054 (A) | 2583020 | 2646224 |
| &nbsp;&nbsp;&nbsp;Series 2024-3A, Class A23<br> 5.914%, 07/30/2054 (A) | 6241635 | 6173873 |
| Sunbird Engine Finance LLC<br> Series 2020-1A, Class A<br> 3.671%, 02/15/2045 (A) | 1105307 | 1077779 |
| Switch ABS Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-2A, Class A2<br> 5.436%, 06/25/2054 (A) | 1852000 | 1865788 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET-BACKED SECURITIES (continued)** | **ASSET-BACKED SECURITIES (continued)** |  |
| Switch ABS Issuer LLC (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class A2<br> 5.036%, 03/25/2055 (A) | 5975000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5893876 |
| TIF Funding II LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-1A, Class A<br> 2.090%, 08/20/2045 (A) | 5689903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5343049 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A<br> 1.650%, 02/20/2046 (A) | 3347321 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3007191 |
| Tricon American Homes Trust<br> Series 2020-SFR2, Class A<br> 1.482%, 11/17/2039 (A) | 4333015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4062187 |
| Triton Container Finance VIII LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-1A, Class A<br> 2.110%, 09/20/2045 (A) | 5806283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5393530 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A<br> 1.860%, 03/20/2046 (A) | 3255709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2972070 |
| Uniti Fiber Issuer LLC<br> Series 2025-1A, Class A2<br> 5.877%, 04/20/2055 (A) | 2382000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2435427 |
| Vantage Data Centers LLC<br> Series 2020-2A, Class A2<br> 1.992%, 09/15/2045 (A) | 3647000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3424273 |
| VCP RRL ABS I, Ltd.<br> Series 2021-1A, Class A<br> 2.152%, 10/20/2031 (A) | &nbsp;&nbsp;987386 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;950342 |
| Verizon Master Trust<br> Series 2024-5, Class A<br> 5.000%, 06/21/2032 (A) | 9805000 | &nbsp;&nbsp;&nbsp;&nbsp;10053291 |
| VR Funding LLC<br> Series 2020-1A, Class A<br> 2.790%, 11/15/2050 (A) | 4797816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4533187 |
| Wendy's Funding LLC<br> Series 2021-1A, Class A2I<br> 2.370%, 06/15/2051 (A) | 6338502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5825706 |
| Willis Engine Structured Trust V<br> Series 2020-A, Class A<br> 3.228%, 03/15/2045 (A) | 1461051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1392280 |
| Willis Engine Structured Trust VIII<br> Series 2025-A, Class A<br> 5.582%, 06/15/2050 (A) | 1911000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1932503 |
| Wingstop Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-1A, Class A2<br> 2.841%, 12/05/2050 (A) | 9947515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9427587 |
| &nbsp;&nbsp;&nbsp;Series 2024-1A, Class A2<br> 5.858%, 12/05/2054 (A) | 2651000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700366 |
| Zaxby's Funding LLC<br> Series 2021-1A, Class A2<br> 3.238%, 07/30/2051 (A) | 4188800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3871302 |
| Zayo Issuer LLC<br> Series 2025-1A, Class A2<br> 5.648%, 03/20/2055 (A) | 4138000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4224351 |
| TOTAL ASSET-BACKED SECURITIES (Cost $416,969,707) |  | $&nbsp;&nbsp;410815009 |
| **SHORT-TERM INVESTMENTS – 1.3%** | **SHORT-TERM INVESTMENTS – 1.3%** |  |
| **Short-term funds – 1.3%** |  |  |
| John Hancock Collateral Trust, 4.2596% (F)(G) | 7280628 | &nbsp;&nbsp;&nbsp;&nbsp;72823754 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $72,822,857) | TOTAL SHORT-TERM INVESTMENTS (Cost $72,822,857) | $&nbsp;&nbsp;&nbsp;&nbsp;72823754 |
| **Total Investments (Select Bond Trust)<br> (Cost $5,744,004,345) – 99.4%** | **Total Investments (Select Bond Trust)<br> (Cost $5,744,004,345) – 99.4%** | $**5517745114** |
| **Other assets and liabilities, net – 0.6%** |  | &nbsp;&nbsp;&nbsp;&nbsp;**33926728** |
| **TOTAL NET ASSETS – 100.0%** |  | $**5551671842** |

---

<u>Security Abbreviations and Legend</u> <br> CME CME Group Published Rates

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 84 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Select Bond Trust (continued)

---

| | |
|:---|:---|
| CMT | Constant Maturity Treasury |
| ICE | Intercontinental Exchange |
| IO | Interest-Only Security - (Interest Tranche of Stripped Mortgage Pool). Rate shown is the annualized yield at the end of the period. |
| SOFR | Secured Overnight Financing Rate |
| (A) | This security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. Rule 144A securities amounted to $986,396,905 or 17.8% of the fund's net assets as of 6-30-25. |
| (B) | Perpetual bonds have no stated maturity date. Date shown as maturity date is next call date. |
| (C) | All or a portion of this security is on loan as of 6-30-25. |
| (D) | Variable or floating rate security, the interest rate of which adjusts periodically based on a weighted average of interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of period end. |
| (E) | Variable rate obligation. The coupon rate shown represents the rate at period end. |
| (F) | The rate shown is the annualized seven-day yield as of 6-30-25. |
| (G) | Investment is an affiliate of the fund, the advisor and/or subadvisor. A portion of this security represents the investment of cash collateral received for securities lending. Market value of this investment amounted to $9,661,679. |

---

#### Short Term Government Income Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY OBLIGATIONS –<br> 96.7%** | **U.S. GOVERNMENT AND AGENCY OBLIGATIONS –<br> 96.7%** |  |
| **U.S. Government – 50.9%** |  |  |
| U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;3.750%, 04/30/2027 to 05/15/2028 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82287000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82385707 |
| &nbsp;&nbsp;&nbsp;3.875%, 05/31/2027 to 06/30/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41002000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41157665 |
| &nbsp;&nbsp;&nbsp;4.250%, 06/30/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;509297 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124052669 |
| **U.S. Government Agency – 45.8%** |  |  |
| Federal Agricultural Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.300%, 02/24/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13455377 |
| &nbsp;&nbsp;&nbsp;4.350%, 01/28/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8615000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8723463 |
| &nbsp;&nbsp;&nbsp;4.740%, 03/25/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5420000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5429671 |
| Federal Farm Credit Bank |  |  |
| &nbsp;&nbsp;&nbsp;0.680%, 01/13/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5716627 |
| &nbsp;&nbsp;&nbsp;1.600%, 12/14/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1935810 |
| &nbsp;&nbsp;&nbsp;4.330%, 03/18/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9980612 |
| &nbsp;&nbsp;&nbsp;4.470%, 03/05/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3014026 |
| &nbsp;&nbsp;&nbsp;4.600%, 01/02/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2497494 |
| &nbsp;&nbsp;&nbsp;4.900%, 03/19/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3513039 |
| Federal Home Loan Bank |  |  |
| &nbsp;&nbsp;&nbsp;0.900%, 02/26/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1903543 |
| &nbsp;&nbsp;&nbsp;2.750%, 03/25/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2546684 |
| &nbsp;&nbsp;&nbsp;4.000%, 03/10/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4015028 |
| &nbsp;&nbsp;&nbsp;4.150%, 09/18/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2473021 |
| &nbsp;&nbsp;&nbsp;4.500%, 03/26/2029 to 02/26/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13010182 |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;0.800%, 10/27/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1920220 |
| &nbsp;&nbsp;&nbsp;2.500%, 09/01/2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1121683 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1063440 |
| &nbsp;&nbsp;&nbsp;3.000%, 07/01/2030 to 12/01/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;947002 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;924167 |
| &nbsp;&nbsp;&nbsp;3.500%, 04/01/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;459966 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;454067 |
| &nbsp;&nbsp;&nbsp;4.250%, 08/25/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1993315 |
| &nbsp;&nbsp;&nbsp;4.300%, 03/13/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5009673 |
| &nbsp;&nbsp;&nbsp;4.650%, 10/09/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1998350 |
| &nbsp;&nbsp;&nbsp;4.750%, 10/11/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000245 |
| &nbsp;&nbsp;&nbsp;6.000%, 10/01/2052 to 03/01/2054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2569562 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2629311 |

---

#### Short Term Government Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** | **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Federal Home Loan<br> Mortgage Corp. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;6.771%, (1 Year Refinitiv USD IBOR Consumer Cash Fallback Rate + 1.617%), 05/01/2045 (A) | &nbsp;&nbsp;191678 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197599 |
| &nbsp;&nbsp;&nbsp;7.000%, 04/01/2031 to 04/01/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;1.875%, 09/24/2026 | 3500000 | &nbsp;&nbsp;&nbsp;&nbsp;3411071 |
| &nbsp;&nbsp;&nbsp;2.500%, 10/01/2027 to 09/01/2034 | 1208386 | &nbsp;&nbsp;&nbsp;&nbsp;1150227 |
| &nbsp;&nbsp;&nbsp;3.000%, 03/01/2028 to 09/01/2034 | 2535895 | &nbsp;&nbsp;&nbsp;&nbsp;2475585 |
| &nbsp;&nbsp;&nbsp;3.500%, 07/01/2031 to 06/01/2034 | 1869428 | &nbsp;&nbsp;&nbsp;&nbsp;1843353 |
| &nbsp;&nbsp;&nbsp;4.050%, 09/23/2027 | 5000000 | &nbsp;&nbsp;&nbsp;&nbsp;4988521 |
| &nbsp;&nbsp;&nbsp;6.000%, 08/01/2053 to 11/01/2053 | &nbsp;&nbsp;985036 | &nbsp;&nbsp;&nbsp;&nbsp;1007565 |
| &nbsp;&nbsp;&nbsp;6.500%, 01/01/2039 | &nbsp;&nbsp;165651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175968 |
| &nbsp;&nbsp;&nbsp;7.000%, 12/01/2026 to 01/01/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;287 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301 |
| &nbsp;&nbsp;&nbsp;8.000%, 09/01/2029 to 09/01/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;429 |
|  |  | 111458146 |
| TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $236,108,358) | TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $236,108,358) | $235510815 |
| **MUNICIPAL BONDS – 2.0%** |  |  |
| City of New York, GO<br> 1.990%, 10/01/2026 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;972982 |
| County of Orange (Florida)<br> 2.280%, 01/01/2026 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;990592 |
| Los Angeles Unified School District, GO (California)<br> 1.540%, 09/15/2025 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;994223 |
| State of California, GO<br> 2.375%, 10/01/2026 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;978294 |
| State of Wisconsin<br> 2.299%, 05/01/2028 | &nbsp;&nbsp;900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;856307 |
| TOTAL MUNICIPAL BONDS (Cost $4,865,740) | TOTAL MUNICIPAL BONDS (Cost $4,865,740) | $&nbsp;&nbsp;&nbsp;&nbsp;4792398 |
| **COLLATERALIZED MORTGAGE OBLIGATIONS – 0.3%** | **COLLATERALIZED MORTGAGE OBLIGATIONS – 0.3%** |  |
| **U.S. Government Agency – 0.3%** |  |  |
| Government National<br> Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;Series 2012-114, Class IO,<br> 0.630%, 01/16/2053 | &nbsp;&nbsp;789859 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12407 |
| &nbsp;&nbsp;&nbsp;Series 2017-109, Class IO,<br> 0.229%, 04/16/2057 | &nbsp;&nbsp;824525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10521 |
| &nbsp;&nbsp;&nbsp;Series 2017-124, Class IO,<br> 0.626%, 01/16/2059 | &nbsp;&nbsp;686389 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23938 |
| &nbsp;&nbsp;&nbsp;Series 2017-140, Class IO,<br> 0.485%, 02/16/2059 | &nbsp;&nbsp;606203 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16534 |
| &nbsp;&nbsp;&nbsp;Series 2017-20, Class IO,<br> 0.517%, 12/16/2058 | 1497645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33881 |
| &nbsp;&nbsp;&nbsp;Series 2017-41, Class IO,<br> 0.561%, 07/16/2058 | &nbsp;&nbsp;712378 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18919 |
| &nbsp;&nbsp;&nbsp;Series 2017-46, Class IO,<br> 0.652%, 11/16/2057 | 1089295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41134 |
| &nbsp;&nbsp;&nbsp;Series 2017-61, Class IO,<br> 0.700%, 05/16/2059 | &nbsp;&nbsp;480009 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17342 |
| &nbsp;&nbsp;&nbsp;Series 2017-74, Class IO,<br> 0.399%, 09/16/2058 | 1198583 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20013 |
| &nbsp;&nbsp;&nbsp;Series 2017-89, Class IO,<br> 0.458%, 07/16/2059 | &nbsp;&nbsp;603440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15861 |
| &nbsp;&nbsp;&nbsp;Series 2018-9, Class IO,<br> 0.444%, 01/16/2060 | 1296270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38232 |
| &nbsp;&nbsp;&nbsp;Series 2020-118, Class IO,<br> 0.884%, 06/16/2062 | 1312412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69264 |
| &nbsp;&nbsp;&nbsp;Series 2020-119, Class IO,<br> 0.607%, 08/16/2062 | &nbsp;&nbsp;728002 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33932 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 85 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Short Term Government Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Government National<br> Mortgage Association (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-120, Class IO,<br> 0.769%, 05/16/2062 | 1887339 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110776 |
| &nbsp;&nbsp;&nbsp;Series 2020-137, Class IO,<br> 0.797%, 09/16/2062 | 1345564 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78098 |
| &nbsp;&nbsp;&nbsp;Series 2020-170, Class IO,<br> 0.835%, 11/16/2062 | 1483212 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96106 |
| &nbsp;&nbsp;&nbsp;Series 2021-40, Class IO,<br> 0.822%, 02/16/2063 | 1770246 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109269 |
| &nbsp;&nbsp;&nbsp;Series 2022-53, Class IO,<br> 0.708%, 06/16/2064 | 1639111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76436 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;822663 |
| TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $2,810,621) | TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $2,810,621) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;822663 |
| **SHORT-TERM INVESTMENTS – 0.2%** | **SHORT-TERM INVESTMENTS – 0.2%** |  |
| **Short-term funds – 0.2%** |  |  |
| John Hancock Collateral Trust, 4.2596% (B)(C) | &nbsp;&nbsp;&nbsp;&nbsp;38693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;387022 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $387,016) | TOTAL SHORT-TERM INVESTMENTS (Cost $387,016) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;387022 |
| **Total Investments (Short Term Government Income Trust)<br> (Cost $244,171,735) – 99.2%** | **Total Investments (Short Term Government Income Trust)<br> (Cost $244,171,735) – 99.2%** | $**241512898** |
| **Other assets and liabilities, net – 0.8%** |  | &nbsp;&nbsp;&nbsp;**1918696** |
| **TOTAL NET ASSETS – 100.0%** |  | $**243431594** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| GO | General Obligation |
| IBOR | Interbank Offered Rate |
| IO | Interest-Only Security - (Interest Tranche of Stripped Mortgage Pool). Rate shown is the annualized yield at the end of the period. |
| (A) | Variable rate obligation. The coupon rate shown represents the rate at period end. |
| (B) | The rate shown is the annualized seven-day yield as of 6-30-25. |
| (C) | Investment is an affiliate of the fund, the advisor and/or subadvisor. |

---

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| 2-Year U.S. Treasury Note Futures | &nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;$15542889 | &nbsp;&nbsp;&nbsp;&nbsp;$15601758 | &nbsp;&nbsp;&nbsp;&nbsp;$58869 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$58869** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

See Notes to financial statements regarding investment transactions and other derivatives information.

#### Strategic Income Opportunities Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY OBLIGATIONS –<br> 9.9%** | **U.S. GOVERNMENT AND AGENCY OBLIGATIONS –<br> 9.9%** |  |
| **U.S. Government – 3.6%** |  |  |
| U.S. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, 02/15/2050 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2093000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1228983 |
| &nbsp;&nbsp;&nbsp;2.750%, 11/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1315000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1001712 |
| &nbsp;&nbsp;&nbsp;3.000%, 02/15/2049 to 08/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7455000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5478459 |
| &nbsp;&nbsp;&nbsp;3.625%, 02/15/2053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1030000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;840818 |
| U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;2.750%, 08/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2305000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2126363 |
| &nbsp;&nbsp;&nbsp;3.500%, 02/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3235000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3118489 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13794824 |
| **U.S. Government Agency – 6.3%** |  |  |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.500%, 02/01/2055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1303464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1316083 |
| &nbsp;&nbsp;&nbsp;6.000%, 10/01/2054 to 02/01/2055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4332208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4434492 |

---

#### Strategic Income Opportunities Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** | **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** | **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |  |
| Federal National Mortgage Association |  |  |  |
| &nbsp;&nbsp;&nbsp;5.500%, 02/01/2054 to 01/01/2055 | $| 15014511 | $15121568 |
| &nbsp;&nbsp;&nbsp;6.000%, 01/01/2055 |  | &nbsp;&nbsp;1066607 | &nbsp;&nbsp;&nbsp;1097188 |
| Government National<br> Mortgage Association |  |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, 08/20/2052 to 11/20/2052 |  | &nbsp;&nbsp;1549470 | &nbsp;&nbsp;&nbsp;1450876 |
| &nbsp;&nbsp;&nbsp;4.500%, 08/20/2052 to 12/20/2052 |  | &nbsp;&nbsp;1167948 | &nbsp;&nbsp;&nbsp;1127612 |
|  |  |  | 24547819 |
| TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $40,117,048) | TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $40,117,048) | TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $40,117,048) | $38342643 |
| **FOREIGN GOVERNMENT OBLIGATIONS – 20.3%** | **FOREIGN GOVERNMENT OBLIGATIONS – 20.3%** | **FOREIGN GOVERNMENT OBLIGATIONS – 20.3%** |  |
| **Australia – 3.1%** |  |  |  |
| Airservices Australia |  |  |  |
| &nbsp;&nbsp;&nbsp;2.200%, 05/15/2030 | AUD | &nbsp;&nbsp;1240000 | &nbsp;&nbsp;&nbsp;&nbsp;740804 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 86 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Strategic Income Opportunities Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **FOREIGN GOVERNMENT OBLIGATIONS (continued)** | **FOREIGN GOVERNMENT OBLIGATIONS (continued)** |  |
| **Australia (continued)** |  |  |
| Airservices Australia (continued) |  |  |
| &nbsp;&nbsp;&nbsp;5.400%, 11/15/2028 | &nbsp;&nbsp;1380000 | $&nbsp;&nbsp;&nbsp;&nbsp;945949 |
| New South Wales Treasury Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.250%, 05/07/2041 | &nbsp;&nbsp;1650000 | &nbsp;&nbsp;&nbsp;&nbsp;731342 |
| &nbsp;&nbsp;&nbsp;4.250%, 02/20/2036 | &nbsp;&nbsp;2120000 | &nbsp;&nbsp;&nbsp;1315148 |
| &nbsp;&nbsp;&nbsp;4.750%, 09/20/2035 | &nbsp;&nbsp;1870000 | &nbsp;&nbsp;&nbsp;1221806 |
| Queensland Treasury Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.250%, 11/20/2041 (A) | &nbsp;&nbsp;1135000 | &nbsp;&nbsp;&nbsp;&nbsp;488792 |
| &nbsp;&nbsp;&nbsp;3.250%, 05/21/2035 (A) | &nbsp;&nbsp;&nbsp;&nbsp;510000 | &nbsp;&nbsp;&nbsp;&nbsp;601669 |
| &nbsp;&nbsp;&nbsp;5.250%, 07/21/2036 (A) | &nbsp;&nbsp;2380000 | &nbsp;&nbsp;&nbsp;1590254 |
| South Australian Government Financing Authority<br> 1.750%, 05/24/2034 | &nbsp;&nbsp;1635000 | &nbsp;&nbsp;&nbsp;&nbsp;842912 |
| Treasury Corp. of Victoria |  |  |
| &nbsp;&nbsp;&nbsp;2.250%, 11/20/2034 | &nbsp;&nbsp;&nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;291110 |
| &nbsp;&nbsp;&nbsp;4.250%, 12/20/2032 | &nbsp;&nbsp;1385000 | &nbsp;&nbsp;&nbsp;&nbsp;900800 |
| &nbsp;&nbsp;&nbsp;4.750%, 09/15/2036 | &nbsp;&nbsp;2795000 | &nbsp;&nbsp;&nbsp;1789531 |
| &nbsp;&nbsp;&nbsp;5.000%, 11/20/2040 | &nbsp;&nbsp;&nbsp;&nbsp;875000 | &nbsp;&nbsp;&nbsp;&nbsp;546149 |
|  |  | 12006266 |
| **Austria – 0.1%** |  |  |
| Republic of Austria<br> 2.900%, 02/20/2033 (A) | &nbsp;&nbsp;&nbsp;&nbsp;410000 | &nbsp;&nbsp;&nbsp;&nbsp;487978 |
| **Brazil – 1.6%** |  |  |
| Federative Republic of Brazil<br> 10.000%, 01/01/2027 | 36210000 | &nbsp;&nbsp;&nbsp;6323183 |
| **Canada – 2.2%** |  |  |
| CDP Financial, Inc.<br> 4.200%, 12/02/2030 | &nbsp;&nbsp;&nbsp;&nbsp;855000 | &nbsp;&nbsp;&nbsp;&nbsp;657447 |
| CPPIB Capital, Inc.<br> 2.250%, 12/01/2031 (A) | &nbsp;&nbsp;&nbsp;&nbsp;635000 | &nbsp;&nbsp;&nbsp;&nbsp;437335 |
| Government of Canada |  |  |
| &nbsp;&nbsp;&nbsp;0.500%, 12/01/2030 | &nbsp;&nbsp;&nbsp;&nbsp;275000 | &nbsp;&nbsp;&nbsp;&nbsp;177634 |
| &nbsp;&nbsp;&nbsp;3.500%, 09/01/2029 | &nbsp;&nbsp;&nbsp;&nbsp;785000 | &nbsp;&nbsp;&nbsp;&nbsp;592496 |
| OMERS Finance Trust |  |  |
| &nbsp;&nbsp;&nbsp;3.250%, 01/28/2035 | &nbsp;&nbsp;&nbsp;&nbsp;390000 | &nbsp;&nbsp;&nbsp;&nbsp;458245 |
| &nbsp;&nbsp;&nbsp;4.750%, 03/26/2031 (A) | $&nbsp;&nbsp;&nbsp;&nbsp;465000 | &nbsp;&nbsp;&nbsp;&nbsp;477543 |
| Ontario Teachers' Finance Trust<br> 2.000%, 04/16/2031 (A) | &nbsp;&nbsp;1860000 | &nbsp;&nbsp;&nbsp;1652264 |
| Province of British Columbia<br> 4.200%, 07/06/2033 | &nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;735893 |
| Province of Ontario |  |  |
| &nbsp;&nbsp;&nbsp;1.350%, 12/02/2030 | &nbsp;&nbsp;1850000 | &nbsp;&nbsp;&nbsp;1237038 |
| &nbsp;&nbsp;&nbsp;3.100%, 01/31/2034 | &nbsp;&nbsp;&nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;648119 |
| &nbsp;&nbsp;&nbsp;3.450%, 06/02/2045 | &nbsp;&nbsp;1255000 | &nbsp;&nbsp;&nbsp;&nbsp;804039 |
| Province of Quebec<br> 4.500%, 09/08/2033 | $&nbsp;&nbsp;&nbsp;&nbsp;674000 | &nbsp;&nbsp;&nbsp;&nbsp;674738 |
|  |  | &nbsp;&nbsp;&nbsp;8552791 |
| **China – 0.1%** |  |  |
| People's Republic of China<br> 2.690%, 08/12/2026 | &nbsp;&nbsp;4220000 | &nbsp;&nbsp;&nbsp;&nbsp;597853 |
| **Finland – 0.3%** |  |  |
| Republic of Finland<br> 3.000%, 09/15/2033 (A) | &nbsp;&nbsp;1055000 | &nbsp;&nbsp;&nbsp;1259099 |
| **Germany – 0.4%** |  |  |
| Federal Republic of Germany<br> 2.200%, 02/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;861710 |
| Federal Republic of Germany,<br> Zero Coupon |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, 02/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;470000 | &nbsp;&nbsp;&nbsp;&nbsp;490121 |
| &nbsp;&nbsp;&nbsp;0.000%, 05/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp;170000 | &nbsp;&nbsp;&nbsp;&nbsp;155041 |
|  |  | &nbsp;&nbsp;&nbsp;1506872 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **FOREIGN GOVERNMENT OBLIGATIONS (continued)** | **FOREIGN GOVERNMENT OBLIGATIONS (continued)** |  |
| **India – 1.0%** |  |  |
| Export-Import Bank of India<br> 3.875%, 02/01/2028 (A) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455000 | $&nbsp;&nbsp;&nbsp;&nbsp;446908 |
| Republic of India |  |  |
| &nbsp;&nbsp;&nbsp;6.100%, 07/12/2031 | &nbsp;&nbsp;&nbsp;&nbsp;33840000 | &nbsp;&nbsp;&nbsp;&nbsp;391041 |
| &nbsp;&nbsp;&nbsp;6.450%, 10/07/2029 | &nbsp;&nbsp;&nbsp;&nbsp;33000000 | &nbsp;&nbsp;&nbsp;&nbsp;390174 |
| &nbsp;&nbsp;&nbsp;7.100%, 04/18/2029 | &nbsp;&nbsp;&nbsp;&nbsp;215020000 | &nbsp;&nbsp;&nbsp;2589890 |
|  |  | &nbsp;&nbsp;&nbsp;3818013 |
| **Indonesia – 3.0%** |  |  |
| Republic of Indonesia |  |  |
| &nbsp;&nbsp;&nbsp;1.100%, 03/12/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261000 | &nbsp;&nbsp;&nbsp;&nbsp;256763 |
| &nbsp;&nbsp;&nbsp;3.050%, 03/12/2051 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;460458 |
| &nbsp;&nbsp;&nbsp;5.125%, 04/15/2027 | &nbsp;&nbsp;6216000000 | &nbsp;&nbsp;&nbsp;&nbsp;372867 |
| &nbsp;&nbsp;&nbsp;6.375%, 08/15/2028 | 27724000000 | &nbsp;&nbsp;&nbsp;1713880 |
| &nbsp;&nbsp;&nbsp;6.375%, 04/15/2032 | 32544000000 | &nbsp;&nbsp;&nbsp;1976491 |
| &nbsp;&nbsp;&nbsp;6.500%, 07/15/2030 | 11582000000 | &nbsp;&nbsp;&nbsp;&nbsp;718227 |
| &nbsp;&nbsp;&nbsp;6.500%, 02/15/2031 | 32916000000 | &nbsp;&nbsp;&nbsp;2025781 |
| &nbsp;&nbsp;&nbsp;6.625%, 05/15/2033 | 11797000000 | &nbsp;&nbsp;&nbsp;&nbsp;710599 |
| &nbsp;&nbsp;&nbsp;6.625%, 02/15/2034 | &nbsp;&nbsp;9589000000 | &nbsp;&nbsp;&nbsp;&nbsp;588718 |
| &nbsp;&nbsp;&nbsp;7.500%, 06/15/2035 | 10800000000 | &nbsp;&nbsp;&nbsp;&nbsp;702307 |
| &nbsp;&nbsp;&nbsp;8.375%, 09/15/2026 | &nbsp;&nbsp;5144000000 | &nbsp;&nbsp;&nbsp;&nbsp;326143 |
| &nbsp;&nbsp;&nbsp;8.750%, 05/15/2031 | 17423000000 | &nbsp;&nbsp;&nbsp;1185197 |
| &nbsp;&nbsp;&nbsp;9.000%, 03/15/2029 | &nbsp;&nbsp;6709000000 | &nbsp;&nbsp;&nbsp;&nbsp;449038 |
|  |  | 11486469 |
| **Japan – 1.0%** |  |  |
| Government of Japan<br> 2.100%, 12/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp;533850000 | &nbsp;&nbsp;&nbsp;3736204 |
| **Netherlands – 0.2%** |  |  |
| BNG Bank NV<br> 3.300%, 07/17/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1130000 | &nbsp;&nbsp;&nbsp;&nbsp;734956 |
| **New Zealand – 2.5%** |  |  |
| Government of New Zealand |  |  |
| &nbsp;&nbsp;&nbsp;1.750%, 05/15/2041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2535000 | &nbsp;&nbsp;&nbsp;1005424 |
| &nbsp;&nbsp;&nbsp;2.000%, 05/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1680000 | &nbsp;&nbsp;&nbsp;&nbsp;890130 |
| &nbsp;&nbsp;&nbsp;3.500%, 04/14/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2320000 | &nbsp;&nbsp;&nbsp;1337320 |
| &nbsp;&nbsp;&nbsp;4.250%, 05/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4435000 | &nbsp;&nbsp;&nbsp;2665897 |
| &nbsp;&nbsp;&nbsp;4.250%, 05/15/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;695000 | &nbsp;&nbsp;&nbsp;&nbsp;410209 |
| &nbsp;&nbsp;&nbsp;4.500%, 05/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2465000 | &nbsp;&nbsp;&nbsp;1498205 |
| New Zealand Local Government<br> Funding Agency |  |  |
| &nbsp;&nbsp;&nbsp;2.250%, 05/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1965000 | &nbsp;&nbsp;&nbsp;1064693 |
| &nbsp;&nbsp;&nbsp;3.500%, 04/14/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;661000 | &nbsp;&nbsp;&nbsp;&nbsp;370502 |
| &nbsp;&nbsp;&nbsp;4.700%, 08/01/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850000 | &nbsp;&nbsp;&nbsp;&nbsp;574129 |
|  |  | &nbsp;&nbsp;&nbsp;9816509 |
| **Norway – 1.2%** |  |  |
| City of Oslo<br> 3.990%, 06/11/2029 | &nbsp;&nbsp;&nbsp;&nbsp;12000000 | &nbsp;&nbsp;&nbsp;1187527 |
| Kingdom of Norway |  |  |
| &nbsp;&nbsp;&nbsp;2.125%, 05/18/2032 (A) | &nbsp;&nbsp;&nbsp;&nbsp;23445000 | &nbsp;&nbsp;&nbsp;2100233 |
| &nbsp;&nbsp;&nbsp;3.000%, 08/15/2033 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4230000 | &nbsp;&nbsp;&nbsp;&nbsp;396834 |
| &nbsp;&nbsp;&nbsp;3.750%, 06/12/2035 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5965000 | &nbsp;&nbsp;&nbsp;&nbsp;588954 |
| Kommunalbanken AS<br> 4.250%, 07/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;540000 | &nbsp;&nbsp;&nbsp;&nbsp;355421 |
|  |  | &nbsp;&nbsp;&nbsp;4628969 |
| **Philippines – 2.2%** |  |  |
| Republic of the Philippines |  |  |
| &nbsp;&nbsp;&nbsp;0.875%, 05/17/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1565000 | &nbsp;&nbsp;&nbsp;1792410 |
| &nbsp;&nbsp;&nbsp;6.250%, 02/28/2029 | &nbsp;&nbsp;&nbsp;&nbsp;57705000 | &nbsp;&nbsp;&nbsp;1039914 |
| &nbsp;&nbsp;&nbsp;6.250%, 01/14/2036 | &nbsp;&nbsp;&nbsp;&nbsp;43000000 | &nbsp;&nbsp;&nbsp;&nbsp;746163 |
| &nbsp;&nbsp;&nbsp;6.375%, 07/27/2030 | &nbsp;&nbsp;&nbsp;&nbsp;92680000 | &nbsp;&nbsp;&nbsp;1680049 |
| &nbsp;&nbsp;&nbsp;6.375%, 04/28/2035 | &nbsp;&nbsp;&nbsp;&nbsp;39310000 | &nbsp;&nbsp;&nbsp;&nbsp;702793 |
| &nbsp;&nbsp;&nbsp;6.500%, 05/19/2029 | &nbsp;&nbsp;&nbsp;&nbsp;46960000 | &nbsp;&nbsp;&nbsp;&nbsp;850877 |
| &nbsp;&nbsp;&nbsp;6.750%, 09/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;82250000 | &nbsp;&nbsp;&nbsp;1513379 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 87 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Strategic Income Opportunities Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **FOREIGN GOVERNMENT OBLIGATIONS (continued)** | **FOREIGN GOVERNMENT OBLIGATIONS (continued)** |  |
| **Philippines (continued)** |  |  |
| Republic of the Philippines (continued) |  |  |
| &nbsp;&nbsp;&nbsp;8.000%, 09/30/2035 | 17600000 | $&nbsp;&nbsp;&nbsp;&nbsp;351258 |
|  |  | &nbsp;&nbsp;&nbsp;8676843 |
| **Qatar – 0.2%** |  |  |
| State of Qatar<br> 4.817%, 03/14/2049 (A) | $&nbsp;&nbsp;&nbsp;&nbsp;710000 | &nbsp;&nbsp;&nbsp;&nbsp;636525 |
| **Singapore – 0.3%** |  |  |
| Republic of Singapore<br> 3.375%, 09/01/2033 | &nbsp;&nbsp;1250000 | &nbsp;&nbsp;&nbsp;1068069 |
| **United Arab Emirates – 0.1%** |  |  |
| Government of Abu Dhabi<br> 3.875%, 04/16/2050 (A) | $&nbsp;&nbsp;&nbsp;&nbsp;720000 | &nbsp;&nbsp;&nbsp;&nbsp;559341 |
| **United Kingdom – 0.8%** |  |  |
| Government of the United Kingdom |  |  |
| &nbsp;&nbsp;&nbsp;3.250%, 01/31/2033 | &nbsp;&nbsp;&nbsp;&nbsp;650000 | &nbsp;&nbsp;&nbsp;&nbsp;835273 |
| &nbsp;&nbsp;&nbsp;4.125%, 07/22/2029 | &nbsp;&nbsp;&nbsp;&nbsp;680000 | &nbsp;&nbsp;&nbsp;&nbsp;942166 |
| &nbsp;&nbsp;&nbsp;4.250%, 07/31/2034 | &nbsp;&nbsp;&nbsp;&nbsp;870000 | &nbsp;&nbsp;&nbsp;1178501 |
|  |  | &nbsp;&nbsp;&nbsp;2955940 |
| TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $79,562,218) | TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $79,562,218) | $78851880 |
| **CORPORATE BONDS – 46.3%** | **CORPORATE BONDS – 46.3%** |  |
| **Communication services – 3.6%** |  |  |
| Alphabet, Inc.<br> 3.000%, 05/06/2033 | &nbsp;&nbsp;&nbsp;&nbsp;657000 | &nbsp;&nbsp;&nbsp;&nbsp;768250 |
| Cellnex Finance Company SA<br> 2.000%, 09/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;529806 |
| Charter Communications Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, 07/01/2049 | $&nbsp;&nbsp;1910000 | &nbsp;&nbsp;&nbsp;1588094 |
| &nbsp;&nbsp;&nbsp;5.750%, 04/01/2048 | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;227338 |
| Match Group Holdings II LLC<br> 4.125%, 08/01/2030 (A) | &nbsp;&nbsp;&nbsp;&nbsp;510000 | &nbsp;&nbsp;&nbsp;&nbsp;476945 |
| NBN Company, Ltd.<br> 5.350%, 03/06/2035 | &nbsp;&nbsp;&nbsp;&nbsp;410000 | &nbsp;&nbsp;&nbsp;&nbsp;275039 |
| News Corp.<br> 3.875%, 05/15/2029 (A) | $&nbsp;&nbsp;1730000 | &nbsp;&nbsp;&nbsp;1655161 |
| Sirius XM Radio LLC<br> 4.125%, 07/01/2030 (A) | &nbsp;&nbsp;1450000 | &nbsp;&nbsp;&nbsp;1336957 |
| T-Mobile USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.700%, 03/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;690000 | &nbsp;&nbsp;&nbsp;&nbsp;608104 |
| &nbsp;&nbsp;&nbsp;2.875%, 02/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;227493 |
| &nbsp;&nbsp;&nbsp;3.500%, 04/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;420000 | &nbsp;&nbsp;&nbsp;&nbsp;394344 |
| Virgin Media Secured Finance PLC |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 08/15/2030 (A) | &nbsp;&nbsp;&nbsp;&nbsp;670000 | &nbsp;&nbsp;&nbsp;&nbsp;622691 |
| &nbsp;&nbsp;&nbsp;5.500%, 05/15/2029 (A) | &nbsp;&nbsp;1471000 | &nbsp;&nbsp;&nbsp;1446850 |
| Vmed O2 UK Financing I PLC |  |  |
| &nbsp;&nbsp;&nbsp;4.250%, 01/31/2031 (A) | &nbsp;&nbsp;1545000 | &nbsp;&nbsp;&nbsp;1415404 |
| &nbsp;&nbsp;&nbsp;4.500%, 07/15/2031 (A) | &nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;859850 |
| &nbsp;&nbsp;&nbsp;5.625%, 04/15/2032 (A) | &nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;483124 |
| WMG Acquisition Corp.<br> 3.000%, 02/15/2031 (A)(B) | $&nbsp;&nbsp;1260000 | &nbsp;&nbsp;&nbsp;1142562 |
|  |  | 14058012 |
| **Consumer discretionary – 4.3%** |  |  |
| Carnival Corp.<br> 5.750%, 01/15/2030 (A) | &nbsp;&nbsp;&nbsp;&nbsp;580000 | &nbsp;&nbsp;&nbsp;&nbsp;728730 |
| Ford Motor Company<br> 3.250%, 02/12/2032 | $&nbsp;&nbsp;3881000 | &nbsp;&nbsp;&nbsp;3272067 |
| Ford Motor Credit Company LLC |  |  |
| &nbsp;&nbsp;&nbsp;2.900%, 02/16/2028 | &nbsp;&nbsp;&nbsp;&nbsp;360000 | &nbsp;&nbsp;&nbsp;&nbsp;337536 |
| &nbsp;&nbsp;&nbsp;4.000%, 11/13/2030 | &nbsp;&nbsp;&nbsp;&nbsp;255000 | &nbsp;&nbsp;&nbsp;&nbsp;232802 |
| &nbsp;&nbsp;&nbsp;5.625%, 10/09/2028 | &nbsp;&nbsp;&nbsp;&nbsp;640000 | &nbsp;&nbsp;&nbsp;&nbsp;876898 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Consumer discretionary (continued)** |  |  |
| General Motors Financial Company, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.700%, (5.700% to 9-30-30, then 5 Year CMT + 4.997%), 09/30/2030 (C) | $&nbsp;&nbsp;360000 | $&nbsp;&nbsp;&nbsp;&nbsp;356597 |
| &nbsp;&nbsp;&nbsp;6.500%, (6.500% to 9-30-28, then 3 month LIBOR + 3.436%), 09/30/2028 (C) | &nbsp;&nbsp;304000 | &nbsp;&nbsp;&nbsp;&nbsp;299440 |
| Hilton Domestic Operating<br> Company, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, 02/15/2032 (A) | &nbsp;&nbsp;275000 | &nbsp;&nbsp;&nbsp;&nbsp;249111 |
| &nbsp;&nbsp;&nbsp;4.875%, 01/15/2030 | &nbsp;&nbsp;915000 | &nbsp;&nbsp;&nbsp;&nbsp;910885 |
| NCL Corp., Ltd.<br> 6.750%, 02/01/2032 (A) | &nbsp;&nbsp;865000 | &nbsp;&nbsp;&nbsp;&nbsp;883709 |
| New Red Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, 02/15/2029 (A) | 1118000 | &nbsp;&nbsp;&nbsp;1064589 |
| &nbsp;&nbsp;&nbsp;3.875%, 01/15/2028 (A) | &nbsp;&nbsp;995000 | &nbsp;&nbsp;&nbsp;&nbsp;969188 |
| Royal Caribbean Cruises, Ltd.<br> 6.000%, 02/01/2033 (A) | 1384000 | &nbsp;&nbsp;&nbsp;1410679 |
| Travel + Leisure Company<br> 4.500%, 12/01/2029 (A) | 1015000 | &nbsp;&nbsp;&nbsp;&nbsp;980956 |
| Yum! Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, 03/15/2031 | 1890000 | &nbsp;&nbsp;&nbsp;1744464 |
| &nbsp;&nbsp;&nbsp;4.625%, 01/31/2032 | &nbsp;&nbsp;875000 | &nbsp;&nbsp;&nbsp;&nbsp;842426 |
| &nbsp;&nbsp;&nbsp;4.750%, 01/15/2030 (A) | 1683000 | &nbsp;&nbsp;&nbsp;1667139 |
|  |  | 16827216 |
| **Consumer staples – 2.7%** |  |  |
| Bimbo Bakeries USA, Inc.<br> 5.375%, 01/09/2036 (A) | 1375000 | &nbsp;&nbsp;&nbsp;1358526 |
| Darling Ingredients, Inc.<br> 6.000%, 06/15/2030 (A) | 1440000 | &nbsp;&nbsp;&nbsp;1459014 |
| JBS USA LUX SA |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, 01/15/2032 | &nbsp;&nbsp;565000 | &nbsp;&nbsp;&nbsp;&nbsp;516630 |
| &nbsp;&nbsp;&nbsp;5.750%, 04/01/2033 | &nbsp;&nbsp;319000 | &nbsp;&nbsp;&nbsp;&nbsp;327906 |
| Kraft Heinz Foods Company |  |  |
| &nbsp;&nbsp;&nbsp;4.375%, 06/01/2046 | 1305000 | &nbsp;&nbsp;&nbsp;1055781 |
| &nbsp;&nbsp;&nbsp;6.875%, 01/26/2039 | &nbsp;&nbsp;735000 | &nbsp;&nbsp;&nbsp;&nbsp;813088 |
| &nbsp;&nbsp;&nbsp;7.125%, 08/01/2039 (A) | &nbsp;&nbsp;640000 | &nbsp;&nbsp;&nbsp;&nbsp;720834 |
| MARB BondCo PLC<br> 3.950%, 01/29/2031 (A) | &nbsp;&nbsp;990000 | &nbsp;&nbsp;&nbsp;&nbsp;877288 |
| Mars, Inc.<br> 5.200%, 03/01/2035 (A) | &nbsp;&nbsp;740000 | &nbsp;&nbsp;&nbsp;&nbsp;748865 |
| NBM US Holdings, Inc.<br> 7.000%, 05/14/2026 (A) | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;200098 |
| Performance Food Group, Inc.<br> 4.250%, 08/01/2029 (A) | &nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;530337 |
| Post Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 09/15/2031 (A) | &nbsp;&nbsp;515000 | &nbsp;&nbsp;&nbsp;&nbsp;478028 |
| &nbsp;&nbsp;&nbsp;5.500%, 12/15/2029 (A) | &nbsp;&nbsp;170000 | &nbsp;&nbsp;&nbsp;&nbsp;169220 |
| &nbsp;&nbsp;&nbsp;6.375%, 03/01/2033 (A) | 1260000 | &nbsp;&nbsp;&nbsp;1271487 |
|  |  | 10527102 |
| **Energy – 8.6%** |  |  |
| Aker BP ASA<br> 5.125%, 10/01/2034 (A) | &nbsp;&nbsp;760000 | &nbsp;&nbsp;&nbsp;&nbsp;729697 |
| Cenovus Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, 02/07/2028 | &nbsp;&nbsp;510000 | &nbsp;&nbsp;&nbsp;&nbsp;374151 |
| &nbsp;&nbsp;&nbsp;5.400%, 06/15/2047 | $&nbsp;&nbsp;757000 | &nbsp;&nbsp;&nbsp;&nbsp;671956 |
| &nbsp;&nbsp;&nbsp;6.750%, 11/15/2039 | 2536000 | &nbsp;&nbsp;&nbsp;2713498 |
| Cheniere Energy Partners LP<br> 4.000%, 03/01/2031 | 1887000 | &nbsp;&nbsp;&nbsp;1795635 |
| Civitas Resources, Inc.<br> 8.750%, 07/01/2031 (A) | 1305000 | &nbsp;&nbsp;&nbsp;1319497 |
| Columbia Pipelines Operating Company LLC<br> 6.036%, 11/15/2033 (A) | &nbsp;&nbsp;690000 | &nbsp;&nbsp;&nbsp;&nbsp;724005 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 88 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Strategic Income Opportunities Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Energy (continued)** |  |  |
| Continental Resources, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.875%, 04/01/2032 (A) | $2546000 | $&nbsp;&nbsp;&nbsp;2140377 |
| &nbsp;&nbsp;&nbsp;5.750%, 01/15/2031 (A) | 1240000 | &nbsp;&nbsp;&nbsp;1251884 |
| Enbridge, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;7.200%, (7.200% to 6-27-34, then 5 Year CMT + 2.970%), 06/27/2054 | &nbsp;&nbsp;825000 | &nbsp;&nbsp;&nbsp;&nbsp;847558 |
| &nbsp;&nbsp;&nbsp;8.500%, (8.500% to 1-15-34, then 5 Year CMT + 4.431% to 1-15-54, then 5 Year CMT + 5.181%), 01/15/2084 | 1110000 | &nbsp;&nbsp;&nbsp;1235838 |
| Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp;7.125%, (7.125% to 5-15-30, then 5 Year CMT + 5.306%), 05/15/2030 (C) | 1065000 | &nbsp;&nbsp;&nbsp;1084877 |
| &nbsp;&nbsp;&nbsp;8.000%, (8.000% to 5-15-29, then 5 Year CMT + 4.020%), 05/15/2054 | 1290000 | &nbsp;&nbsp;&nbsp;1372410 |
| EQT Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, 05/15/2031 (A) | 1935000 | &nbsp;&nbsp;&nbsp;1793533 |
| &nbsp;&nbsp;&nbsp;5.750%, 02/01/2034 | &nbsp;&nbsp;445000 | &nbsp;&nbsp;&nbsp;&nbsp;460116 |
| Long Ridge Energy LLC<br> 8.750%, 02/15/2032 (A) | &nbsp;&nbsp;490000 | &nbsp;&nbsp;&nbsp;&nbsp;508989 |
| MC Brazil Downstream Trading SARL<br> 7.250%, 06/30/2031 (A) | &nbsp;&nbsp;871158 | &nbsp;&nbsp;&nbsp;&nbsp;687693 |
| Occidental Petroleum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.125%, 01/01/2031 | &nbsp;&nbsp;585000 | &nbsp;&nbsp;&nbsp;&nbsp;605606 |
| &nbsp;&nbsp;&nbsp;6.450%, 09/15/2036 | &nbsp;&nbsp;140000 | &nbsp;&nbsp;&nbsp;&nbsp;143237 |
| &nbsp;&nbsp;&nbsp;6.625%, 09/01/2030 | 1255000 | &nbsp;&nbsp;&nbsp;1327012 |
| &nbsp;&nbsp;&nbsp;7.500%, 05/01/2031 | &nbsp;&nbsp;565000 | &nbsp;&nbsp;&nbsp;&nbsp;621862 |
| Ovintiv, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.500%, 08/15/2034 | 1270000 | &nbsp;&nbsp;&nbsp;1318033 |
| &nbsp;&nbsp;&nbsp;6.500%, 02/01/2038 | 1130000 | &nbsp;&nbsp;&nbsp;1140748 |
| Petrorio Luxembourg Holding Sarl<br> 6.125%, 06/09/2026 (A) | &nbsp;&nbsp;655000 | &nbsp;&nbsp;&nbsp;&nbsp;656197 |
| QatarEnergy |  |  |
| &nbsp;&nbsp;&nbsp;2.250%, 07/12/2031 (A) | &nbsp;&nbsp;715000 | &nbsp;&nbsp;&nbsp;&nbsp;625897 |
| &nbsp;&nbsp;&nbsp;3.300%, 07/12/2051 (A) | &nbsp;&nbsp;575000 | &nbsp;&nbsp;&nbsp;&nbsp;387550 |
| South Bow Canadian Infrastructure Holdings, Ltd.<br> 7.500%, (7.500% to 3-1-35, then 5 Year CMT + 3.667%), 03/01/2055 (A) | &nbsp;&nbsp;545000 | &nbsp;&nbsp;&nbsp;&nbsp;562302 |
| The Williams Companies, Inc.<br> 5.300%, 09/30/2035 | &nbsp;&nbsp;843000 | &nbsp;&nbsp;&nbsp;&nbsp;843885 |
| TransCanada PipeLines, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;4.100%, 04/15/2030 | &nbsp;&nbsp;330000 | &nbsp;&nbsp;&nbsp;&nbsp;323193 |
| &nbsp;&nbsp;&nbsp;6.200%, 10/15/2037 | &nbsp;&nbsp;538000 | &nbsp;&nbsp;&nbsp;&nbsp;563264 |
| &nbsp;&nbsp;&nbsp;7.000%, (7.000% to 6-1-30, then 5 Year CMT + 2.614%), 06/01/2065 | &nbsp;&nbsp;730000 | &nbsp;&nbsp;&nbsp;&nbsp;729346 |
| &nbsp;&nbsp;&nbsp;7.250%, 08/15/2038 | &nbsp;&nbsp;222000 | &nbsp;&nbsp;&nbsp;&nbsp;251432 |
| Transcanada Trust<br> 5.600%, (5.600% to 3-7-32, then 5 Year CMT + 3.986% to 3-7-52, then 5 Year CMT + 4.736%), 03/07/2082 | &nbsp;&nbsp;875000 | &nbsp;&nbsp;&nbsp;&nbsp;849939 |
| Var Energi ASA |  |  |
| &nbsp;&nbsp;&nbsp;6.500%, 05/22/2035 (A) | &nbsp;&nbsp;855000 | &nbsp;&nbsp;&nbsp;&nbsp;884201 |
| &nbsp;&nbsp;&nbsp;7.500%, 01/15/2028 (A) | &nbsp;&nbsp;330000 | &nbsp;&nbsp;&nbsp;&nbsp;349291 |
| Venture Global LNG, Inc.<br> 9.000%, (9.000% to 9-30-29, then 5 Year CMT + 5.440%), 09/30/2029 (A)(C) | 1390000 | &nbsp;&nbsp;&nbsp;1351356 |
| Western Midstream Operating LP<br> 4.050%, 02/01/2030 | &nbsp;&nbsp;190000 | &nbsp;&nbsp;&nbsp;&nbsp;182728 |
|  |  | 33428793 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials – 10.8%** |  |  |
| American International Group, Inc.<br> 8.175%, (8.175% to 5-15-38, then 3 month LIBOR + 4.195%), 05/15/2058 | $&nbsp;&nbsp;1700000 | $1885313 |
| Asian Development Bank<br> 3.625%, 01/22/2029 | &nbsp;&nbsp;6000000 | &nbsp;&nbsp;&nbsp;&nbsp;592121 |
| Bank of America Corp.<br> 6.625%, (6.625% to 5-1-30, then 5 Year CMT + 2.684%), 05/01/2030 (C) | $&nbsp;&nbsp;1685000 | 1745075 |
| Bank of Montreal |  |  |
| &nbsp;&nbsp;&nbsp;7.300%, (7.300% to 11-26-34, then 5 Year CMT + 3.010%), 11/26/2084 | &nbsp;&nbsp;2275000 | 2324080 |
| &nbsp;&nbsp;&nbsp;7.325%, (7.325% to 11-26-27, then 5 Year Canada Government Bond Yield + 4.098%), 11/26/2082 | &nbsp;&nbsp;1985000 | 1532375 |
| Barclays PLC<br> 7.625%, (7.625% to 9-15-35, then 5 Year SOFR ICE Swap Rate + 3.686%), 03/15/2035 (C) | $&nbsp;&nbsp;&nbsp;&nbsp;923000 | &nbsp;&nbsp;&nbsp;&nbsp;926962 |
| Berkshire Hathaway Finance Corp.<br> 2.375%, 06/19/2039 | &nbsp;&nbsp;&nbsp;&nbsp;610000 | &nbsp;&nbsp;&nbsp;&nbsp;581047 |
| BNP Paribas SA<br> 7.375%, (7.375% to 9-10-34, then 5 Year CMT + 3.535%), 09/10/2034 (A)(C) | $&nbsp;&nbsp;&nbsp;&nbsp;670000 | &nbsp;&nbsp;&nbsp;&nbsp;680425 |
| ConnectOne Bancorp, Inc.<br> 8.125%, (8.125% to 6-1-30, then 3 month CME Term SOFR + 4.415%), 06/01/2035 | &nbsp;&nbsp;&nbsp;&nbsp;675000 | &nbsp;&nbsp;&nbsp;&nbsp;676239 |
| European Bank for Reconstruction & Development<br> 6.300%, 10/26/2027 | 31700000 | &nbsp;&nbsp;&nbsp;&nbsp;367499 |
| European Investment Bank<br> 1.250%, 02/17/2027 | &nbsp;&nbsp;1080000 | &nbsp;&nbsp;&nbsp;&nbsp;102986 |
| First Citizens BancShares, Inc.<br> 6.254%, (6.254% to 3-12-35, then 5 Year CMT + 1.970%), 03/12/2040 | $&nbsp;&nbsp;1140000 | 1134349 |
| First Horizon Corp.<br> 5.514%, (5.514% to 3-7-30, then Overnight SOFR + 1.766%), 03/07/2031 | &nbsp;&nbsp;1130000 | 1146283 |
| First Interstate BancSystem, Inc.<br> 7.625%, (7.625% to 6-15-30, then 3 month CME Term SOFR + 3.980%), 06/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp;445000 | &nbsp;&nbsp;&nbsp;&nbsp;453989 |
| Five Star Bancorp<br> 6.000%, (6.000% to 9-1-27, then Overnight SOFR + 3.290%), 09/01/2032 (A) | &nbsp;&nbsp;&nbsp;&nbsp;290000 | &nbsp;&nbsp;&nbsp;&nbsp;272951 |
| HSBC Holdings PLC |  |  |
| &nbsp;&nbsp;&nbsp;5.877%, (Overnight SOFR + 1.570%), 05/13/2031 (D) | &nbsp;&nbsp;1510000 | 1518245 |
| &nbsp;&nbsp;&nbsp;6.950%, (6.950% to 2-27-32, then 5 Year CMT + 2.635%), 08/27/2031 (C) | &nbsp;&nbsp;&nbsp;&nbsp;870000 | &nbsp;&nbsp;&nbsp;&nbsp;873289 |
| &nbsp;&nbsp;&nbsp;7.050%, (7.050% to 12-5-30, then 5 Year CMT + 2.987%), 06/05/2030 (C) | &nbsp;&nbsp;&nbsp;&nbsp;415000 | &nbsp;&nbsp;&nbsp;&nbsp;419796 |
| Inter-American Development Bank |  |  |
| &nbsp;&nbsp;&nbsp;2.700%, 01/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1308 |
| &nbsp;&nbsp;&nbsp;2.750%, 10/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;327931 |
| &nbsp;&nbsp;&nbsp;7.350%, 10/06/2030 | 31000000 | &nbsp;&nbsp;&nbsp;&nbsp;373027 |
| International Bank for Reconstruction &<br> Development |  |  |
| &nbsp;&nbsp;&nbsp;1.200%, 08/08/2034 | &nbsp;&nbsp;1750000 | 1783554 |
| &nbsp;&nbsp;&nbsp;1.250%, 03/16/2026 | &nbsp;&nbsp;2920000 | &nbsp;&nbsp;&nbsp;&nbsp;284101 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 89 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Strategic Income Opportunities Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| International Bank for Reconstruction &<br> Development (continued) |  |  |
| &nbsp;&nbsp;&nbsp;6.850%, 04/24/2028 | 32500000 | $&nbsp;&nbsp;&nbsp;&nbsp;381804 |
| International Development Association<br> 1.750%, 02/17/2027 | &nbsp;&nbsp;2750000 | &nbsp;&nbsp;&nbsp;&nbsp;263703 |
| International Finance Corp.<br> 0.375%, 09/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;965000 | &nbsp;&nbsp;&nbsp;&nbsp;584809 |
| MSCI, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, 09/01/2030 (A) | $&nbsp;&nbsp;1530000 | 1435055 |
| &nbsp;&nbsp;&nbsp;3.625%, 11/01/2031 (A) | &nbsp;&nbsp;&nbsp;&nbsp;629000 | &nbsp;&nbsp;&nbsp;&nbsp;579535 |
| &nbsp;&nbsp;&nbsp;3.875%, 02/15/2031 (A) | &nbsp;&nbsp;&nbsp;&nbsp;765000 | &nbsp;&nbsp;&nbsp;&nbsp;721327 |
| Nordic Investment Bank<br> 4.000%, 11/04/2026 | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;198256 |
| Popular, Inc.<br> 7.250%, 03/13/2028 | $&nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;796811 |
| Provident Financial Services, Inc.<br> 9.000%, (9.000% to 5-15-29, then 3 month CME Term SOFR + 4.765%), 05/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp;615000 | &nbsp;&nbsp;&nbsp;&nbsp;636897 |
| Royal Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;4.200%, (4.200% to 2-24-27, then 5 Year Canada Government Bond Yield + 2.710%), 02/24/2027 (C) | &nbsp;&nbsp;2215000 | 1465356 |
| &nbsp;&nbsp;&nbsp;6.350%, (6.350% to 11-24-34, then 5 Year CMT + 2.257%), 11/24/2084 | $&nbsp;&nbsp;&nbsp;&nbsp;920000 | &nbsp;&nbsp;&nbsp;&nbsp;864792 |
| &nbsp;&nbsp;&nbsp;7.500%, (7.500% to 5-2-29, then 5 Year CMT + 2.887%), 05/02/2084 | &nbsp;&nbsp;1900000 | 1963341 |
| Societe Generale SA<br> 8.125%, (8.125% to 5-21-30, then 5 Year CMT + 3.790%), 11/21/2029 (A)(C) | &nbsp;&nbsp;1435000 | 1464257 |
| South State Bank NA<br> 8.375%, (8.375% to 11-15-29, then 3 month CME Term SOFR + 4.605%), 08/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;410000 |
| The Asian Infrastructure Investment Bank<br> 0.200%, 12/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;630000 | &nbsp;&nbsp;&nbsp;&nbsp;849160 |
| The Bank of Nova Scotia<br> 8.625%, (8.625% to 10-27-27, then 5 Year CMT + 4.389%), 10/27/2082 | $&nbsp;&nbsp;1285000 | 1363666 |
| The Toronto-Dominion Bank |  |  |
| &nbsp;&nbsp;&nbsp;2.667%, 09/09/2025 | &nbsp;&nbsp;&nbsp;&nbsp;597000 | &nbsp;&nbsp;&nbsp;&nbsp;438174 |
| &nbsp;&nbsp;&nbsp;8.125%, (8.125% to 10-31-27, then 5 Year CMT + 4.075%), 10/31/2082 | $&nbsp;&nbsp;1415000 | 1477836 |
| U.S. Bancorp<br> 3.700%, (3.700% to 1-15-27, then 5 Year CMT + 2.541%), 01/15/2027 (C) | &nbsp;&nbsp;&nbsp;&nbsp;542000 | &nbsp;&nbsp;&nbsp;&nbsp;521065 |
| UBS Group AG |  |  |
| &nbsp;&nbsp;&nbsp;7.000%, (7.000% to 8-10-30, then 5 Year SOFR ICE Swap Rate + 3.077%), 02/10/2030 (A)(C) | &nbsp;&nbsp;1610000 | 1601598 |
| &nbsp;&nbsp;&nbsp;7.125%, (7.125% to 2-10-35, then 5 Year SOFR ICE Swap Rate + 3.179%), 08/10/2034 (A)(C) | &nbsp;&nbsp;1045000 | 1040704 |
| Webster Financial Corp.<br> 3.875%, (3.875% to 11-1-25, then 3 month CME Term SOFR + 3.690%), 11/01/2030 | &nbsp;&nbsp;&nbsp;&nbsp;715000 | &nbsp;&nbsp;&nbsp;&nbsp;703872 |
| Wells Fargo & Company<br> 3.900%, (3.900% to 7-22-31, then 3 month EURIBOR + 1.220%), 07/22/2032 | &nbsp;&nbsp;&nbsp;&nbsp;725000 | &nbsp;&nbsp;&nbsp;&nbsp;880091 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| Western Alliance Bancorp<br> 3.000%, (3.000% to 6-15-26, then 3 month CME Term SOFR + 2.250%), 06/15/2031 | $1425000 | $&nbsp;&nbsp;&nbsp;1324352 |
|  |  | 41969406 |
| **Health care – 2.1%** |  |  |
| Allergan Funding SCS<br> 2.625%, 11/15/2028 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;343413 |
| Centene Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, 03/01/2031 | $&nbsp;&nbsp;905000 | &nbsp;&nbsp;&nbsp;&nbsp;779193 |
| &nbsp;&nbsp;&nbsp;3.000%, 10/15/2030 | 1275000 | &nbsp;&nbsp;&nbsp;1139239 |
| &nbsp;&nbsp;&nbsp;3.375%, 02/15/2030 | 1255000 | &nbsp;&nbsp;&nbsp;1155897 |
| &nbsp;&nbsp;&nbsp;4.625%, 12/15/2029 | &nbsp;&nbsp;260000 | &nbsp;&nbsp;&nbsp;&nbsp;252884 |
| HCA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, 09/01/2030 | 1793000 | &nbsp;&nbsp;&nbsp;1695520 |
| &nbsp;&nbsp;&nbsp;5.600%, 04/01/2034 | 1855000 | &nbsp;&nbsp;&nbsp;1897938 |
| Rede D'Or Finance Sarl |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 01/22/2030 (A) | &nbsp;&nbsp;387000 | &nbsp;&nbsp;&nbsp;&nbsp;366689 |
| &nbsp;&nbsp;&nbsp;4.950%, 01/17/2028 (A) | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;345171 |
|  |  | &nbsp;&nbsp;&nbsp;7975944 |
| **Industrials – 4.0%** |  |  |
| AerCap Ireland Capital DAC |  |  |
| &nbsp;&nbsp;&nbsp;6.500%, (6.500% to 1-31-31, then 5 Year CMT + 2.441%), 01/31/2056 | &nbsp;&nbsp;760000 | &nbsp;&nbsp;&nbsp;&nbsp;761210 |
| &nbsp;&nbsp;&nbsp;6.950%, (6.950% to 3-10-30, then 5 Year CMT + 2.720%), 03/10/2055 | 1015000 | &nbsp;&nbsp;&nbsp;1054777 |
| Air Lease Corp.<br> 4.125%, (4.125% to 12-15-26, then 5 Year CMT + 3.149%), 12/15/2026 (C) | &nbsp;&nbsp;755000 | &nbsp;&nbsp;&nbsp;&nbsp;732016 |
| Airbus SE<br> 1.625%, 06/09/2030 | &nbsp;&nbsp;255000 | &nbsp;&nbsp;&nbsp;&nbsp;285845 |
| American Airlines, Inc.<br> 5.750%, 04/20/2029 (A) | $1360000 | &nbsp;&nbsp;&nbsp;1358807 |
| CACI International, Inc.<br> 6.375%, 06/15/2033 (A) | &nbsp;&nbsp;535000 | &nbsp;&nbsp;&nbsp;&nbsp;552092 |
| DAE Funding LLC<br> 3.375%, 03/20/2028 (A) | &nbsp;&nbsp;440000 | &nbsp;&nbsp;&nbsp;&nbsp;422394 |
| Delta Air Lines 2020-1 Class A Pass Through Trust<br> 2.500%, 06/10/2028 | &nbsp;&nbsp;296031 | &nbsp;&nbsp;&nbsp;&nbsp;279657 |
| Indian Railway Finance Corp., Ltd.<br> 3.249%, 02/13/2030 (A) | &nbsp;&nbsp;645000 | &nbsp;&nbsp;&nbsp;&nbsp;605160 |
| JetBlue Airways Corp.<br> 9.875%, 09/20/2031 (A) | &nbsp;&nbsp;730000 | &nbsp;&nbsp;&nbsp;&nbsp;710203 |
| Johnson Controls International PLC<br> 0.375%, 09/15/2027 | &nbsp;&nbsp;240000 | &nbsp;&nbsp;&nbsp;&nbsp;270099 |
| Stanley Black & Decker, Inc.<br> 6.707%, (6.707% to 3-15-30, then 5 Year CMT + 2.657%), 03/15/2060 | $2170000 | &nbsp;&nbsp;&nbsp;2119804 |
| The Boeing Company |  |  |
| &nbsp;&nbsp;&nbsp;5.150%, 05/01/2030 | &nbsp;&nbsp;915000 | &nbsp;&nbsp;&nbsp;&nbsp;931561 |
| &nbsp;&nbsp;&nbsp;5.805%, 05/01/2050 | &nbsp;&nbsp;925000 | &nbsp;&nbsp;&nbsp;&nbsp;887076 |
| TransDigm, Inc.<br> 7.125%, 12/01/2031 (A) | 1964000 | &nbsp;&nbsp;&nbsp;2057718 |
| Uber Technologies, Inc.<br> 4.800%, 09/15/2034 | &nbsp;&nbsp;280000 | &nbsp;&nbsp;&nbsp;&nbsp;275026 |
| United Airlines, Inc.<br> 4.625%, 04/15/2029 (A) | &nbsp;&nbsp;565000 | &nbsp;&nbsp;&nbsp;&nbsp;548426 |
| United Rentals North America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 02/15/2031 | &nbsp;&nbsp;915000 | &nbsp;&nbsp;&nbsp;&nbsp;860427 |
| &nbsp;&nbsp;&nbsp;4.000%, 07/15/2030 | &nbsp;&nbsp;870000 | &nbsp;&nbsp;&nbsp;&nbsp;830221 |
|  |  | 15542519 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 90 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Strategic Income Opportunities Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Information technology – 0.8%** |  |  |
| CoreWeave, Inc.<br> 9.250%, 06/01/2030 (A) | $1590000 | $&nbsp;&nbsp;&nbsp;1625510 |
| Dell International LLC<br> 8.350%, 07/15/2046 | &nbsp;&nbsp;761000 | &nbsp;&nbsp;&nbsp;&nbsp;970666 |
| Gartner, Inc.<br> 3.750%, 10/01/2030 (A) | &nbsp;&nbsp;545000 | &nbsp;&nbsp;&nbsp;&nbsp;509988 |
|  |  | &nbsp;&nbsp;&nbsp;3106164 |
| **Materials – 3.2%** |  |  |
| Ardagh Metal Packaging Finance USA LLC<br> 3.250%, 09/01/2028 (A) | &nbsp;&nbsp;535000 | &nbsp;&nbsp;&nbsp;&nbsp;505593 |
| Ball Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.875%, 08/15/2030 | 2005000 | &nbsp;&nbsp;&nbsp;1807477 |
| &nbsp;&nbsp;&nbsp;6.875%, 03/15/2028 | &nbsp;&nbsp;975000 | &nbsp;&nbsp;&nbsp;&nbsp;997735 |
| Braskem Netherlands Finance BV |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 01/31/2030 (A) | &nbsp;&nbsp;570000 | &nbsp;&nbsp;&nbsp;&nbsp;441094 |
| &nbsp;&nbsp;&nbsp;5.875%, 01/31/2050 (A) | &nbsp;&nbsp;585000 | &nbsp;&nbsp;&nbsp;&nbsp;367316 |
| Cleveland-Cliffs, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.750%, 04/15/2030 (A) | 2320000 | &nbsp;&nbsp;&nbsp;2243357 |
| &nbsp;&nbsp;&nbsp;7.375%, 05/01/2033 (A) | 1330000 | &nbsp;&nbsp;&nbsp;1248813 |
| Corp. Nacional del Cobre de Chile |  |  |
| &nbsp;&nbsp;&nbsp;4.875%, 11/04/2044 (A) | &nbsp;&nbsp;625000 | &nbsp;&nbsp;&nbsp;&nbsp;519285 |
| &nbsp;&nbsp;&nbsp;6.440%, 01/26/2036 (A) | &nbsp;&nbsp;602000 | &nbsp;&nbsp;&nbsp;&nbsp;629713 |
| Freeport-McMoRan, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.400%, 11/14/2034 | &nbsp;&nbsp;495000 | &nbsp;&nbsp;&nbsp;&nbsp;502741 |
| &nbsp;&nbsp;&nbsp;5.450%, 03/15/2043 | 2405000 | &nbsp;&nbsp;&nbsp;2272763 |
| Quikrete Holdings, Inc.<br> 6.750%, 03/01/2033 (A) | &nbsp;&nbsp;370000 | &nbsp;&nbsp;&nbsp;&nbsp;381776 |
| Sealed Air Corp.<br> 5.000%, 04/15/2029 (A) | &nbsp;&nbsp;425000 | &nbsp;&nbsp;&nbsp;&nbsp;420370 |
|  |  | 12338033 |
| **Real estate – 2.3%** |  |  |
| American Tower Corp.<br> 4.625%, 05/16/2031 | &nbsp;&nbsp;440000 | &nbsp;&nbsp;&nbsp;&nbsp;553820 |
| American Tower Trust I<br> 5.490%, 03/15/2028 (A) | $&nbsp;&nbsp;730000 | &nbsp;&nbsp;&nbsp;&nbsp;742312 |
| BW Real Estate, Inc.<br> 9.500%, (9.500% to 3-30-30, then 5 Year CMT + 5.402%), 03/30/2030 (A)(C) | &nbsp;&nbsp;340000 | &nbsp;&nbsp;&nbsp;&nbsp;349812 |
| Host Hotels & Resorts LP |  |  |
| &nbsp;&nbsp;&nbsp;3.375%, 12/15/2029 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;283123 |
| &nbsp;&nbsp;&nbsp;3.500%, 09/15/2030 | &nbsp;&nbsp;240000 | &nbsp;&nbsp;&nbsp;&nbsp;222846 |
| SBA Communications Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.125%, 02/01/2029 | 1340000 | &nbsp;&nbsp;&nbsp;1265600 |
| &nbsp;&nbsp;&nbsp;3.875%, 02/15/2027 | 1075000 | &nbsp;&nbsp;&nbsp;1058446 |
| SBA Tower Trust<br> 6.599%, 01/15/2028 (A) | &nbsp;&nbsp;950000 | &nbsp;&nbsp;&nbsp;&nbsp;976285 |
| VICI Properties LP |  |  |
| &nbsp;&nbsp;&nbsp;4.125%, 08/15/2030 (A) | &nbsp;&nbsp;720000 | &nbsp;&nbsp;&nbsp;&nbsp;691070 |
| &nbsp;&nbsp;&nbsp;4.625%, 12/01/2029 (A) | &nbsp;&nbsp;785000 | &nbsp;&nbsp;&nbsp;&nbsp;771214 |
| &nbsp;&nbsp;&nbsp;5.125%, 05/15/2032 | &nbsp;&nbsp;925000 | &nbsp;&nbsp;&nbsp;&nbsp;921595 |
| &nbsp;&nbsp;&nbsp;5.625%, 04/01/2035 | 1055000 | &nbsp;&nbsp;&nbsp;1064698 |
|  |  | &nbsp;&nbsp;&nbsp;8900821 |
| **Utilities – 3.9%** |  |  |
| American Electric Power Company, Inc.<br> 6.950%, (6.950% to 12-15-34, then 5 Year CMT + 2.675%), 12/15/2054 | 1895000 | &nbsp;&nbsp;&nbsp;1975797 |
| CMS Energy Corp.<br> 6.500%, (6.500% to 6-1-35, then 5 Year CMT + 1.961%), 06/01/2055 | &nbsp;&nbsp;390000 | &nbsp;&nbsp;&nbsp;&nbsp;390933 |
| Dominion Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.625%, (6.625% to 5-15-35, then 5 Year CMT + 2.207%), 05/15/2055 | &nbsp;&nbsp;875000 | &nbsp;&nbsp;&nbsp;&nbsp;888014 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Utilities (continued)** |  |  |  |
| Dominion Energy, Inc. (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp;6.875%, (6.875% to 2-1-30, then 5 Year CMT + 2.386%), 02/01/2055 | $| &nbsp;&nbsp;790000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;831067 |
| &nbsp;&nbsp;&nbsp;7.000%, (7.000% to 6-1-34, then 5 Year CMT + 2.511%), 06/01/2054 |  | 1120000 | &nbsp;&nbsp;&nbsp;&nbsp;1201684 |
| Duke Energy Corp.<br> 6.450%, (6.450% to 9-1-34, then 5 Year CMT + 2.588%), 09/01/2054 |  | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205562 |
| E.ON SE<br> 0.625%, 11/07/2031 | EUR | &nbsp;&nbsp;580000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;592020 |
| Emera, Inc.<br> 6.750%, (6.750% to 6-15-26, then 3 month LIBOR + 5.440% to 6-15-46, then 3 month LIBOR + 6.190%), 06/15/2076 | $| 1615000 | &nbsp;&nbsp;&nbsp;&nbsp;1625131 |
| EUSHI Finance, Inc.<br> 7.625%, (7.625% to 12-15-29, then 5 Year CMT + 3.136%), 12/15/2054 |  | &nbsp;&nbsp;455000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;471021 |
| Exelon Corp.<br> 6.500%, (6.500% to 3-15-35, then 5 Year CMT + 1.975%), 03/15/2055 |  | 1245000 | &nbsp;&nbsp;&nbsp;&nbsp;1266371 |
| NextEra Energy Capital Holdings, Inc.<br> 6.500%, (6.500% to 8-15-35, then 5 Year CMT + 1.979%), 08/15/2055 |  | &nbsp;&nbsp;560000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;572432 |
| Sempra<br> 6.550%, (6.550% to 4-1-35, then 5 Year CMT + 2.138%), 04/01/2055 |  | &nbsp;&nbsp;680000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;644813 |
| The AES Corp.<br> 7.600%, (7.600% to 1-15-30, then 5 Year CMT + 3.201%), 01/15/2055 |  | 3260000 | &nbsp;&nbsp;&nbsp;&nbsp;3356496 |
| The Southern Company<br> 6.375%, (6.375% to 3-15-35, then 5 Year CMT + 2.069%), 03/15/2055 |  | &nbsp;&nbsp;980000 | &nbsp;&nbsp;&nbsp;&nbsp;1008394 |
|  |  |  | &nbsp;&nbsp;&nbsp;15029735 |
| TOTAL CORPORATE BONDS (Cost $181,453,880) | TOTAL CORPORATE BONDS (Cost $181,453,880) |  | $179703745 |
| **CONVERTIBLE BONDS – 1.6%** | **CONVERTIBLE BONDS – 1.6%** | **CONVERTIBLE BONDS – 1.6%** |  |
| **Consumer discretionary – 0.4%** |  |  |  |
| Burlington Stores, Inc.<br> 1.250%, 12/15/2027 |  | &nbsp;&nbsp;730000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;941335 |
| Marriott Vacations Worldwide Corp.<br> 3.250%, 12/15/2027 |  | &nbsp;&nbsp;755000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;702905 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;1644240 |
| **Utilities – 1.2%** |  |  |  |
| CenterPoint Energy, Inc.<br> 4.250%, 08/15/2026 |  | &nbsp;&nbsp;955000 | &nbsp;&nbsp;&nbsp;&nbsp;1033310 |
| FirstEnergy Corp.<br> 3.875%, 01/15/2031 (A) |  | 1045000 | &nbsp;&nbsp;&nbsp;&nbsp;1057018 |
| The Southern Company |  |  |  |
| &nbsp;&nbsp;&nbsp;3.250%, 06/15/2028 (A) |  | &nbsp;&nbsp;615000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;618075 |
| &nbsp;&nbsp;&nbsp;4.500%, 06/15/2027 |  | &nbsp;&nbsp;945000 | &nbsp;&nbsp;&nbsp;&nbsp;1039510 |
| TXNM Energy, Inc.<br> 5.750%, 06/01/2054 |  | &nbsp;&nbsp;615000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;796808 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;4544721 |
| TOTAL CONVERTIBLE BONDS (Cost $5,662,750) | TOTAL CONVERTIBLE BONDS (Cost $5,662,750) |  | $&nbsp;&nbsp;&nbsp;6188961 |
| **TERM LOANS (E) – 9.5%** | **TERM LOANS (E) – 9.5%** | **TERM LOANS (E) – 9.5%** |  |
| **Communication services – 0.5%** |  |  |  |
| Delta 2 Lux Sarl, 2024 Term Loan B1 (3 month CME Term SOFR + 2.000%) 6.296%, 09/30/2031 |  | &nbsp;&nbsp;498000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498125 |
| Delta 2 Lux Sarl, 2024 Term Loan B2 09/30/2031 TBD (F) |  | &nbsp;&nbsp;248000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;248062 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 91 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Strategic Income Opportunities Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **TERM LOANS (E) (continued)** | **TERM LOANS (E) (continued)** |  |
| **Communication services (continued)** |  |  |
| UFC Holdings LLC, 2024 Term Loan B (3 month CME Term SOFR + 2.250%) 6.571%, 11/21/2031 | $1043331 | $&nbsp;&nbsp;&nbsp;1046753 |
|  |  | &nbsp;&nbsp;&nbsp;1792940 |
| **Consumer discretionary – 2.7%** |  |  |
| Aramark Services, Inc., 2024 Term Loan B7 (1 month CME Term SOFR + 2.000%) 6.327%, 04/06/2028 | &nbsp;&nbsp;239000 | &nbsp;&nbsp;&nbsp;&nbsp;239129 |
| Aramark Services, Inc., 2024 Term Loan B8 (1 month CME Term SOFR + 2.000%) 6.327%, 06/22/2030 | &nbsp;&nbsp;996973 | &nbsp;&nbsp;&nbsp;&nbsp;998219 |
| Carnival Corp., 2025 Term Loan (1 month CME Term SOFR + 2.000%) 6.312%, 08/08/2027 | &nbsp;&nbsp;141390 | &nbsp;&nbsp;&nbsp;&nbsp;141257 |
| Carnival Corp., 2025 Term Loan (1 month CME Term SOFR + 2.000%) 6.312%, 10/18/2028 | &nbsp;&nbsp;330000 | &nbsp;&nbsp;&nbsp;&nbsp;329690 |
| Clarios Global LP, 2025 USD Term Loan B (1 month CME Term SOFR + 2.750%) 7.077%, 01/28/2032 | 1530000 | &nbsp;&nbsp;&nbsp;1530964 |
| Great Outdoors Group LLC, 2025 Term Loan B (1 month CME Term SOFR + 3.250%) 7.577%, 01/23/2032 | 2332228 | &nbsp;&nbsp;&nbsp;2325674 |
| Hilton Domestic Operating Company, Inc., 2023 Term Loan B4 (1 month CME Term SOFR + 1.750%) 6.069%, 11/08/2030 | &nbsp;&nbsp;790000 | &nbsp;&nbsp;&nbsp;&nbsp;792346 |
| KFC Holding Company, 2021 Term Loan B (1 month CME Term SOFR + 1.750%) 6.179%, 03/15/2028 | &nbsp;&nbsp;733267 | &nbsp;&nbsp;&nbsp;&nbsp;736244 |
| New Red Finance, Inc., 2024 Term Loan B6 (1 month CME Term SOFR + 1.750%) 6.077%, 09/20/2030 | 1733971 | &nbsp;&nbsp;&nbsp;1724573 |
| Travel + Leisure Company, 2024 Term Loan B (1 month CME Term SOFR + 2.500%) 6.827%, 12/14/2029 | 1529756 | &nbsp;&nbsp;&nbsp;1530904 |
|  |  | 10349000 |
| **Consumer staples – 0.5%** |  |  |
| Opal US LLC, USD Term Loan B (3 month CME Term SOFR + 3.250%) 7.575%, 04/28/2032 | 1920000 | &nbsp;&nbsp;&nbsp;1926605 |
| **Energy – 0.5%** |  |  |
| Hilcorp Energy I LP, Term Loan B (1 month CME Term SOFR + 2.000%) 6.314%, 02/11/2030 | 1082288 | &nbsp;&nbsp;&nbsp;1082288 |
| Long Ridge Energy LLC, Term Loan B (3 month CME Term SOFR + 4.500%) 8.796%, 02/19/2032 | &nbsp;&nbsp;982538 | &nbsp;&nbsp;&nbsp;&nbsp;966571 |
|  |  | &nbsp;&nbsp;&nbsp;2048859 |
| **Health care – 0.6%** |  |  |
| Medline Borrower LP, 2024 USD Add-on Term Loan B (1 month CME Term SOFR + 2.250%) 6.577%, 10/23/2028 | 2114842 | &nbsp;&nbsp;&nbsp;2115879 |
| Organon & Company, 2024 USD Term Loan (1 month CME Term SOFR + 2.250%) 6.571%, 05/19/2031 | &nbsp;&nbsp;245000 | &nbsp;&nbsp;&nbsp;&nbsp;240303 |
|  |  | &nbsp;&nbsp;&nbsp;2356182 |
| **Industrials – 2.7%** |  |  |
| AAdvantage Loyalty IP, Ltd., 2025 Term Loan (3 month CME Term SOFR + 2.250%) 6.522%, 04/20/2028 | &nbsp;&nbsp;393250 | &nbsp;&nbsp;&nbsp;&nbsp;390238 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **TERM LOANS (E) (continued)** | **TERM LOANS (E) (continued)** |  |
| **Industrials (continued)** |  |  |
| AAdvantage Loyalty IP, Ltd., 2025 Term Loan B (1 month CME Term SOFR + 3.250%) 7.546%, 05/28/2032 | $&nbsp;&nbsp;910000 | $&nbsp;&nbsp;&nbsp;&nbsp;915005 |
| AECOM, 2024 Term Loan (1 month CME Term SOFR + 1.750%) 6.072%, 04/18/2031 | 1036769 | &nbsp;&nbsp;&nbsp;1043083 |
| AS Mileage Plan IP, Ltd., Term Loan B (3 month CME Term SOFR + 2.000%) 6.269%, 10/15/2031 | &nbsp;&nbsp;731325 | &nbsp;&nbsp;&nbsp;&nbsp;733702 |
| CACI International, Inc., Term Loan B (1 month CME Term SOFR + 1.750%) 6.074%, 10/30/2031 | 1501677 | &nbsp;&nbsp;&nbsp;1496992 |
| Clean Harbors, Inc., 2024 Term Loan B (1 month CME Term SOFR + 1.750%) 6.077%, 10/09/2028 | &nbsp;&nbsp;672807 | &nbsp;&nbsp;&nbsp;&nbsp;678526 |
| Dynasty Acquisition Company, Inc., 2024 1st Lien Term Loan B1 (1 month CME Term SOFR + 2.000%) 6.327%, 10/31/2031 | &nbsp;&nbsp;429610 | &nbsp;&nbsp;&nbsp;&nbsp;429670 |
| Dynasty Acquisition Company, Inc., 2024 1st Lien Term Loan B2 (1 month CME Term SOFR + 2.000%) 6.327%, 10/31/2031 | &nbsp;&nbsp;163410 | &nbsp;&nbsp;&nbsp;&nbsp;163433 |
| Gloves Buyer, Inc., 2025 Term Loan (1 month CME Term SOFR + 4.000%) 8.321%, 01/17/2032 | 1205000 | &nbsp;&nbsp;&nbsp;1179394 |
| JetBlue Airways Corp., 2024 Term Loan B (3 month CME Term SOFR + 4.750%) 9.069%, 08/27/2029 | 1260475 | &nbsp;&nbsp;&nbsp;1178078 |
| TransDigm, Inc., 2023 Term Loan J (3 month CME Term SOFR + 2.500%) 6.796%, 02/28/2031 | &nbsp;&nbsp;420750 | &nbsp;&nbsp;&nbsp;&nbsp;421465 |
| TransDigm, Inc., 2024 Term Loan (3 month CME Term SOFR + 2.500%) 6.796%, 01/19/2032 | &nbsp;&nbsp;262239 | &nbsp;&nbsp;&nbsp;&nbsp;262591 |
| TransDigm, Inc., 2024 Term Loan K (3 month CME Term SOFR + 2.750%) 7.046%, 03/22/2030 | &nbsp;&nbsp;153063 | &nbsp;&nbsp;&nbsp;&nbsp;153574 |
| United Airlines, Inc., 2024 1st Lien Term Loan B (3 month CME Term SOFR + 2.000%) 6.275%, 02/22/2031 | &nbsp;&nbsp;954302 | &nbsp;&nbsp;&nbsp;&nbsp;954703 |
| United Rentals North America, Inc., 2024 Term Loan B (1 month CME Term SOFR + 1.750%) 6.077%, 02/14/2031 | &nbsp;&nbsp;548029 | &nbsp;&nbsp;&nbsp;&nbsp;552139 |
|  |  | 10552593 |
| **Information technology – 0.9%** |  |  |
| Clearwater Analytics LLC, 2025 Term Loan B (3 month CME Term SOFR + 2.250%) 6.529%, 04/21/2032 | 1040000 | &nbsp;&nbsp;&nbsp;1038700 |
| Cloud Software Group, Inc., 2024 USD Term Loan (3 month CME Term SOFR + 3.750%) 8.046%, 03/21/2031 | 1298039 | &nbsp;&nbsp;&nbsp;1299960 |
| Kaseya, Inc., 2025 1st Lien Term Loan B (1 month CME Term SOFR + 3.250%) 7.577%, 03/20/2032 | &nbsp;&nbsp;982538 | &nbsp;&nbsp;&nbsp;&nbsp;985917 |
|  |  | &nbsp;&nbsp;&nbsp;3324577 |
| **Materials – 0.8%** |  |  |
| Clydesdale Acquisition Holdings, Inc., 2025 Delayed Draw Term Loan (1 month CME Term SOFR + 3.250%) 7.577%, 04/01/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;639 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;636 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 92 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Strategic Income Opportunities Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **TERM LOANS (E) (continued)** | **TERM LOANS (E) (continued)** |  |
| **Materials (continued)** |  |  |
| Clydesdale Acquisition Holdings, Inc., 2025 Term Loan B (1 month CME Term SOFR + 3.250%) 7.577%, 04/01/2032 | 1217977 | $&nbsp;&nbsp;&nbsp;1212569 |
| Quikrete Holdings, Inc., 2025 Term Loan B (1 month CME Term SOFR + 2.250%) 6.577%, 02/10/2032 | 1935150 | &nbsp;&nbsp;&nbsp;1931763 |
|  |  | &nbsp;&nbsp;&nbsp;3144968 |
| **Utilities – 0.3%** |  |  |
| NRG Energy, Inc., 2024 Term Loan (3 month CME Term SOFR + 1.750%) 6.030%, 04/16/2031 | 1209651 | &nbsp;&nbsp;&nbsp;1211163 |
| TOTAL TERM LOANS (Cost $36,880,751) | TOTAL TERM LOANS (Cost $36,880,751) | $36706887 |
| **COLLATERALIZED MORTGAGE OBLIGATIONS – 6.2%** | **COLLATERALIZED MORTGAGE OBLIGATIONS – 6.2%** |  |
| **Commercial and residential – 2.9%** |  |  |
| Arroyo Mortgage Trust<br> Series 2019-1, Class A1<br> 3.805%, 01/25/2049 (A)(G) | &nbsp;&nbsp;160761 | &nbsp;&nbsp;&nbsp;&nbsp;156845 |
| BOCA Commercial Mortgage Trust<br> Series 2024-BOCA, Class A (1 month CME Term SOFR + 1.921%)<br> 6.232%, 08/15/2041 (A)(D) | &nbsp;&nbsp;560000 | &nbsp;&nbsp;&nbsp;&nbsp;561400 |
| BX Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-CIP, Class A (1 month CME Term SOFR + 1.035%),<br> 5.347%, 12/15/2038 (A)(D) | 1002795 | &nbsp;&nbsp;&nbsp;1002169 |
| &nbsp;&nbsp;&nbsp;Series 2021-VOLT, Class A (1 month CME Term SOFR + 0.814%),<br> 5.126%, 09/15/2036 (A)(D) | &nbsp;&nbsp;334246 | &nbsp;&nbsp;&nbsp;&nbsp;333201 |
| &nbsp;&nbsp;&nbsp;Series 2024-XL5, Class A (1 month CME Term SOFR + 1.392%),<br> 5.703%, 03/15/2041 (A)(D) | &nbsp;&nbsp;334145 | &nbsp;&nbsp;&nbsp;&nbsp;334458 |
| BX Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-CLS, Class A,<br> 5.760%, 10/13/2027 (A) | &nbsp;&nbsp;595000 | &nbsp;&nbsp;&nbsp;&nbsp;602276 |
| &nbsp;&nbsp;&nbsp;Series 2024-BIO, Class D (1 month CME Term SOFR + 3.639%),<br> 7.951%, 02/15/2041 (A)(D) | &nbsp;&nbsp;545000 | &nbsp;&nbsp;&nbsp;&nbsp;536006 |
| Citigroup Commercial Mortgage Trust<br> Series 2023-SMRT, Class A<br> 6.015%, 10/12/2040 (A)(G) | &nbsp;&nbsp;470000 | &nbsp;&nbsp;&nbsp;&nbsp;485427 |
| COLT Mortgage Loan Trust<br> Series 2022-5, Class A1<br> 4.550%, 04/25/2067 (A)(G) | &nbsp;&nbsp;280017 | &nbsp;&nbsp;&nbsp;&nbsp;280589 |
| Credit Suisse Mortgage Capital Certificates<br> Series 2019-NQM1, Class A1<br> 3.656%, 10/25/2059 (A) | &nbsp;&nbsp;&nbsp;&nbsp;31811 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31307 |
| GCAT Trust<br> Series 2022-NQM4, Class A1 (5.269% to 8-1-26, then 6.269% thereafter)<br> 5.269%, 08/25/2067 (A) | &nbsp;&nbsp;314992 | &nbsp;&nbsp;&nbsp;&nbsp;313832 |
| HarborView Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2007-3, Class ES IO,<br> 0.350%, 05/19/2037 (A) | 2686521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42621 |
| &nbsp;&nbsp;&nbsp;Series 2007-4, Class ES IO,<br> 0.350%, 07/19/2047 | 2765401 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43624 |
| &nbsp;&nbsp;&nbsp;Series 2007-6, Class ES IO,<br> 0.343%, 08/19/2037 (A) | 2973235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49108 |
| InTown Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-STAY, Class B (1 month CME Term SOFR + 1.750%),<br> 6.062%, 03/15/2042 (A)(D) | &nbsp;&nbsp;695000 | &nbsp;&nbsp;&nbsp;&nbsp;691959 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| InTown Mortgage Trust (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-STAY, Class C (1 month CME Term SOFR + 2.250%),<br> 6.562%, 03/15/2042 (A)(D) | $&nbsp;&nbsp;285000 | $&nbsp;&nbsp;&nbsp;&nbsp;283931 |
| Life Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-BMR2, Class A1 (1 month CME Term SOFR + 1.295%),<br> 5.607%, 05/15/2039 (A)(D) | &nbsp;&nbsp;965000 | &nbsp;&nbsp;&nbsp;&nbsp;934844 |
| &nbsp;&nbsp;&nbsp;Series 2022-BMR2, Class B (1 month CME Term SOFR + 1.794%),<br> 6.106%, 05/15/2039 (A)(D) | 1590000 | &nbsp;&nbsp;&nbsp;1446900 |
| Morgan Stanley Mortgage Loan Trust<br> Series 2004-9, Class 1A<br> 5.280%, 11/25/2034 (G) | &nbsp;&nbsp;&nbsp;&nbsp;50671 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50348 |
| NYC Commercial Mortgage Trust<br> Series 2025-3BP, Class A (1 month CME Term SOFR + 1.213%)<br> 5.525%, 02/15/2042 (A)(D) | &nbsp;&nbsp;505000 | &nbsp;&nbsp;&nbsp;&nbsp;500897 |
| ROCK Trust<br> Series 2024-CNTR, Class D<br> 7.109%, 11/13/2041 (A) | 1245000 | &nbsp;&nbsp;&nbsp;1300217 |
| SCOTT Trust<br> Series 2023-SFS, Class AS<br> 6.204%, 03/10/2040 (A) | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;303927 |
| Verus Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-8, Class A3 (6.127% to 10-1-26, then 7.127% thereafter),<br> 6.127%, 09/25/2067 (A) | &nbsp;&nbsp;235044 | &nbsp;&nbsp;&nbsp;&nbsp;234559 |
| &nbsp;&nbsp;&nbsp;Series 2022-INV1, Class A1 (5.041% to 8-1-26, then 6.041% thereafter),<br> 5.041%, 08/25/2067 (A) | &nbsp;&nbsp;618116 | &nbsp;&nbsp;&nbsp;&nbsp;615059 |
| &nbsp;&nbsp;&nbsp;Series 2024-1, Class A1 (5.712% to 1-1-28, then 6.712% thereafter),<br> 5.712%, 01/25/2069 (A) | &nbsp;&nbsp;137788 | &nbsp;&nbsp;&nbsp;&nbsp;138052 |
|  |  | 11273556 |
| **U.S. Government Agency – 3.3%** |  |  |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-DNA4, Class M1A (30 day Average SOFR + 2.200%),<br> 6.505%, 05/25/2042 (A)(D) | &nbsp;&nbsp;370455 | &nbsp;&nbsp;&nbsp;&nbsp;374623 |
| &nbsp;&nbsp;&nbsp;Series 2022-DNA4, Class M1B (30 day Average SOFR + 3.350%),<br> 7.655%, 05/25/2042 (A)(D) | &nbsp;&nbsp;795000 | &nbsp;&nbsp;&nbsp;&nbsp;826104 |
| &nbsp;&nbsp;&nbsp;Series 2022-DNA6, Class M1A (30 day Average SOFR + 2.150%),<br> 6.455%, 09/25/2042 (A)(D) | &nbsp;&nbsp;280773 | &nbsp;&nbsp;&nbsp;&nbsp;282907 |
| &nbsp;&nbsp;&nbsp;Series 2022-DNA7, Class M1A (30 day Average SOFR + 2.500%),<br> 6.805%, 03/25/2052 (A)(D) | &nbsp;&nbsp;422738 | &nbsp;&nbsp;&nbsp;&nbsp;428294 |
| &nbsp;&nbsp;&nbsp;Series 2022-HQA1, Class M1B (30 day Average SOFR + 3.500%),<br> 7.805%, 03/25/2042 (A)(D) | &nbsp;&nbsp;365000 | &nbsp;&nbsp;&nbsp;&nbsp;377002 |
| &nbsp;&nbsp;&nbsp;Series 2022-HQA3, Class M1B (30 day Average SOFR + 3.550%),<br> 7.855%, 08/25/2042 (A)(D) | &nbsp;&nbsp;540000 | &nbsp;&nbsp;&nbsp;&nbsp;564975 |
| &nbsp;&nbsp;&nbsp;Series 2024-HQA1, Class M2 (30 day Average SOFR + 2.000%),<br> 6.305%, 03/25/2044 (A)(D) | 1715000 | &nbsp;&nbsp;&nbsp;1731043 |
| &nbsp;&nbsp;&nbsp;Series 2025-HQA1, Class M1 (30 day Average SOFR + 1.150%),<br> 5.455%, 02/25/2045 (A)(D) | &nbsp;&nbsp;865376 | &nbsp;&nbsp;&nbsp;&nbsp;864839 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 93 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Strategic Income Opportunities Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Federal Home Loan<br> Mortgage Corp. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-HQA1, Class M2 (30 day Average SOFR + 1.650%),<br> 5.955%, 02/25/2045 (A)(D) | &nbsp;&nbsp;760000 | $&nbsp;&nbsp;&nbsp;&nbsp;758579 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-R02, Class 2B2 (30 day Average SOFR + 6.200%),<br> 10.505%, 11/25/2041 (A)(D) | &nbsp;&nbsp;285000 | &nbsp;&nbsp;&nbsp;&nbsp;298995 |
| &nbsp;&nbsp;&nbsp;Series 2022-R01, Class 1M1 (30 day Average SOFR + 1.000%),<br> 5.305%, 12/25/2041 (A)(D) | &nbsp;&nbsp;&nbsp;&nbsp;79636 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79586 |
| &nbsp;&nbsp;&nbsp;Series 2022-R03, Class 1M1 (30 day Average SOFR + 2.100%),<br> 6.405%, 03/25/2042 (A)(D) | &nbsp;&nbsp;192096 | &nbsp;&nbsp;&nbsp;&nbsp;195160 |
| &nbsp;&nbsp;&nbsp;Series 2022-R04, Class 1M1 (30 day Average SOFR + 2.000%),<br> 6.305%, 03/25/2042 (A)(D) | &nbsp;&nbsp;286238 | &nbsp;&nbsp;&nbsp;&nbsp;290362 |
| &nbsp;&nbsp;&nbsp;Series 2022-R05, Class 2M2 (30 day Average SOFR + 3.000%),<br> 7.305%, 04/25/2042 (A)(D) | 1045000 | &nbsp;&nbsp;&nbsp;1072982 |
| &nbsp;&nbsp;&nbsp;Series 2022-R06, Class 1M1 (30 day Average SOFR + 2.750%),<br> 7.055%, 05/25/2042 (A)(D) | &nbsp;&nbsp;209587 | &nbsp;&nbsp;&nbsp;&nbsp;214482 |
| &nbsp;&nbsp;&nbsp;Series 2022-R09, Class 2M1 (30 day Average SOFR + 2.500%),<br> 6.806%, 09/25/2042 (A)(D) | &nbsp;&nbsp;353423 | &nbsp;&nbsp;&nbsp;&nbsp;358984 |
| &nbsp;&nbsp;&nbsp;Series 2023-R01, Class 1M1 (30 day Average SOFR + 2.400%),<br> 6.706%, 12/25/2042 (A)(D) | &nbsp;&nbsp;317873 | &nbsp;&nbsp;&nbsp;&nbsp;326063 |
| &nbsp;&nbsp;&nbsp;Series 2023-R03, Class 2M2 (30 day Average SOFR + 3.900%),<br> 8.205%, 04/25/2043 (A)(D) | &nbsp;&nbsp;695000 | &nbsp;&nbsp;&nbsp;&nbsp;739091 |
| &nbsp;&nbsp;&nbsp;Series 2023-R06, Class 1M2 (30 day Average SOFR + 2.700%),<br> 7.005%, 07/25/2043 (A)(D) | &nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;464486 |
| &nbsp;&nbsp;&nbsp;Series 2024-R02, Class 1M1 (30 day Average SOFR + 1.100%),<br> 5.405%, 02/25/2044 (A)(D) | &nbsp;&nbsp;774145 | &nbsp;&nbsp;&nbsp;&nbsp;773898 |
| &nbsp;&nbsp;&nbsp;Series 2025-R02, Class 1M2 (30 day Average SOFR + 1.600%),<br> 5.906%, 02/25/2045 (A)(D) | &nbsp;&nbsp;930000 | &nbsp;&nbsp;&nbsp;&nbsp;932037 |
| &nbsp;&nbsp;&nbsp;Series 2025-R04, Class 1M1 (30 day Average SOFR + 1.200%),<br> 5.505%, 05/25/2045 (A)(D) | &nbsp;&nbsp;705828 | &nbsp;&nbsp;&nbsp;&nbsp;707131 |
|  |  | 12661623 |
| TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $23,659,825) | TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $23,659,825) | $23935179 |
| **ASSET-BACKED SECURITIES – 1.5%** | **ASSET-BACKED SECURITIES – 1.5%** |  |
| AutoNation Finance Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class C<br> 5.190%, 12/10/2030 (A) | &nbsp;&nbsp;265000 | &nbsp;&nbsp;&nbsp;&nbsp;268774 |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class D<br> 5.630%, 09/10/2032 (A) | &nbsp;&nbsp;170000 | &nbsp;&nbsp;&nbsp;&nbsp;172343 |
| DataBank Issuer<br> Series 2023-1A, Class A2<br> 5.116%, 02/25/2053 (A) | &nbsp;&nbsp;510000 | &nbsp;&nbsp;&nbsp;&nbsp;508956 |
| DB Master Finance LLC<br> Series 2019-1A, Class A2II<br> 4.021%, 05/20/2049 (A) | &nbsp;&nbsp;584350 | &nbsp;&nbsp;&nbsp;&nbsp;579257 |
| Domino's Pizza Master Issuer LLC<br> Series 2015-1A, Class A2II<br> 4.474%, 10/25/2045 (A) | &nbsp;&nbsp;644613 | &nbsp;&nbsp;&nbsp;&nbsp;643240 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET-BACKED SECURITIES (continued)** | **ASSET-BACKED SECURITIES (continued)** |  |
| FirstKey Homes Trust<br> Series 2020-SFR2, Class A<br> 1.266%, 10/19/2037 (A) | &nbsp;&nbsp;468106 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;462177 |
| Home Partners of America Trust<br> Series 2019-1, Class B<br> 3.157%, 09/17/2039 (A) | &nbsp;&nbsp;323927 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;311572 |
| Jersey Mike's Funding LLC<br> Series 2024-1A, Class A2<br> 5.636%, 02/15/2055 (A) | 1002488 | &nbsp;&nbsp;&nbsp;&nbsp;1018132 |
| OCCU Auto Receivables Trust<br> Series 2022-1A, Class A3<br> 5.500%, 10/15/2027 (A) | &nbsp;&nbsp;208025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208378 |
| Taco Bell Funding LLC<br> Series 2016-1A, Class A23<br> 4.970%, 05/25/2046 (A) | 1122188 | &nbsp;&nbsp;&nbsp;&nbsp;1122170 |
| T-Mobile US Trust<br> Series 2022-1A, Class A<br> 4.910%, 05/22/2028 (A) | &nbsp;&nbsp;184957 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185082 |
| Zayo Issuer LLC<br> Series 2025-1A, Class A2<br> 5.648%, 03/20/2055 (A) | &nbsp;&nbsp;565000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;576790 |
| TOTAL ASSET-BACKED SECURITIES (Cost $5,970,598) |  | $&nbsp;&nbsp;&nbsp;6056871 |
| **PREFERRED SECURITIES – 2.5%** |  |  |
| **Financials – 0.9%** |  |  |
| Bank of Hawaii Corp., 8.000% (B) | &nbsp;&nbsp;&nbsp;&nbsp;33075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;864581 |
| First Busey Corp., 8.250% | &nbsp;&nbsp;&nbsp;&nbsp;30775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;770606 |
| Huntington Bancshares, Inc., 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1738 |
| UMB Financial Corp., 7.750% (7.750% to 7-15-30, then 5 Year CMT + 3.743%) | &nbsp;&nbsp;&nbsp;&nbsp;45925 | &nbsp;&nbsp;&nbsp;&nbsp;1191295 |
| Wintrust Financial Corp., 7.875% (7.875% to 7-15-30, then 5 Year CMT + 3.878%) | &nbsp;&nbsp;&nbsp;&nbsp;26425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;676480 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;3504700 |
| **Industrials – 0.8%** |  |  |
| QXO, Inc., 5.500% | &nbsp;&nbsp;&nbsp;&nbsp;33250 | &nbsp;&nbsp;&nbsp;&nbsp;2061168 |
| The Boeing Company, 6.000% | &nbsp;&nbsp;&nbsp;&nbsp;12600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;856800 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2917968 |
| **Information technology – 0.2%** |  |  |
| Hewlett Packard Enterprise Company, 7.625% | &nbsp;&nbsp;&nbsp;&nbsp;16350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;962688 |
| **Utilities – 0.6%** |  |  |
| NextEra Energy, Inc., 7.234% | &nbsp;&nbsp;&nbsp;&nbsp;56900 | &nbsp;&nbsp;&nbsp;&nbsp;2517825 |
| TOTAL PREFERRED SECURITIES (Cost $9,100,368) | TOTAL PREFERRED SECURITIES (Cost $9,100,368) | $&nbsp;&nbsp;&nbsp;&nbsp;9903181 |
| **PURCHASED OPTIONS – 0.0%** |  |  |
| **Calls – 0.0%** |  |  |
| Over the Counter Option on the USD vs. CNY (Expiration Date: 11-4-25; Strike Price: $7.40; Counterparty: JPMorgan Chase Bank, N.A.) (H)(I) | 4150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5918 |
| TOTAL PURCHASED OPTIONS (Cost $47,103) | TOTAL PURCHASED OPTIONS (Cost $47,103) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5918 |
| **SHORT-TERM INVESTMENTS – 1.1%** | **SHORT-TERM INVESTMENTS – 1.1%** |  |
| **Short-term funds – 1.1%** |  |  |
| John Hancock Collateral Trust, 4.2596% (J)(K) | &nbsp;&nbsp;428004 | &nbsp;&nbsp;&nbsp;&nbsp;4281071 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $4,281,055) | TOTAL SHORT-TERM INVESTMENTS (Cost $4,281,055) | $&nbsp;&nbsp;&nbsp;&nbsp;4281071 |
| **Total Investments (Strategic Income Opportunities Trust)<br> (Cost $386,735,596) – 98.9%** | **Total Investments (Strategic Income Opportunities Trust)<br> (Cost $386,735,596) – 98.9%** | $**383976336** |
| **Other assets and liabilities, net – 1.1%** |  | &nbsp;&nbsp;&nbsp;**4076405** |
| **TOTAL NET ASSETS – 100.0%** |  | $**388052741** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 94 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Strategic Income Opportunities Trust (continued)

---

| | |
|:---|:---|
| <u>Currency Abbreviations</u> | <u>Currency Abbreviations</u> |
| AUD | Australian Dollar |
| BRL | Brazilian Real |
| CAD | Canadian Dollar |
| CNY | Chinese Yuan Renminbi |
| EUR | Euro |
| GBP | Pound Sterling |
| IDR | Indonesian Rupiah |
| INR | Indian Rupee |
| JPY | Japanese Yen |
| NOK | Norwegian Krone |
| NZD | New Zealand Dollar |
| PHP | Philippine Peso |
| SGD | Singapore Dollar |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| CME | CME Group Published Rates |
| CMT | Constant Maturity Treasury |
| EURIBOR | Euro Interbank Offered Rate |
| ICE | Intercontinental Exchange |
| IO | Interest-Only Security - (Interest Tranche of Stripped Mortgage Pool). Rate shown is the annualized yield at the end of the period. |
| LIBOR | London Interbank Offered Rate |
| SOFR | Secured Overnight Financing Rate |
| (A) | This security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. Rule 144A securities amounted to $109,662,731 or 28.3% of the fund's net assets as of 6-30-25. |

---

(B) All or a portion of this security is on loan as of 6-30-25.

(C) Perpetual bonds have no stated maturity date. Date shown as maturity date is next call date.

(D) Variable rate obligation. The coupon rate shown represents the rate at period end.

(E) Term loans are variable rate obligations. The rate shown represents the rate at period end.

(F) This position represents an unsettled loan commitment at period end. Certain details associated with this purchase are not known prior to the settlement date, including coupon rate,
which is disclosed as TBD (To Be Determined).

(G) Variable or floating rate security, the interest rate of which adjusts periodically based on a weighted average of interest rates and prepayments on the underlying pool of assets. The
interest rate shown is the current rate as of period end.

(H) Non-income producing security.

(I) For this type of option, notional amounts are equivalent to number of contracts.

(J) The rate shown is the annualized seven-day yield as of 6-30-25.

(K) Investment is an affiliate of the fund, the advisor and/or subadvisor. A portion of this security represents the investment of cash collateral received for
securities lending. Market value of this investment amounted to $1,168,574.

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| German Euro BUND Futures | &nbsp;&nbsp;&nbsp;&nbsp;44 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;$6795978 | &nbsp;&nbsp;&nbsp;&nbsp;$6745670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(50308) |
| 10-Year Canada Government Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;29 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2572536) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2598127) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25591) |
| 10-Year U.S. Treasury Note Futures | &nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7739093) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7848750) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(109657) |
| Euro-BTP Italian Government Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;53 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7542899) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7554198) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11299) |
| Euro-OAT Futures | &nbsp;&nbsp;&nbsp;&nbsp;13 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1896775) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1896406) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;369 |
| U.S. Treasury Long Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;19 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2172344) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2193906) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21562) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$(218048)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

#### FORWARD FOREIGN CURRENCY CONTRACTS

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Contract to buy** | **Contract to buy** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Counterparty (OTC)** | &nbsp;&nbsp;**Contractual<br> settlement<br> date** | &nbsp;&nbsp;**Unrealized<br> appreciation** | &nbsp;&nbsp;**Unrealized<br> depreciation** |
| CAD | &nbsp;&nbsp;1758750 | &nbsp;&nbsp;MXN | &nbsp;&nbsp;24416550 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;7/23/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;$(5494) |
| CAD | &nbsp;&nbsp;1776000 | &nbsp;&nbsp;MXN | &nbsp;&nbsp;24780954 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;7/23/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;(12191) |
| CAD | &nbsp;&nbsp;3517500 | &nbsp;&nbsp;MXN | &nbsp;&nbsp;48893689 | &nbsp;&nbsp;RBC | &nbsp;&nbsp;7/23/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;(14209) |
| EUR | &nbsp;&nbsp;3447500 | &nbsp;&nbsp;NOK | &nbsp;&nbsp;39459999 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;7/23/2025 | &nbsp;&nbsp;$151230 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;3447500 | &nbsp;&nbsp;NOK | &nbsp;&nbsp;40258060 | &nbsp;&nbsp;HUS | &nbsp;&nbsp;7/23/2025 | &nbsp;&nbsp;72043 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;8642000 | &nbsp;&nbsp;NOK | &nbsp;&nbsp;100327822 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;7/23/2025 | &nbsp;&nbsp;239014 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;1723750 | &nbsp;&nbsp;NOK | &nbsp;&nbsp;20309809 | &nbsp;&nbsp;RBC | &nbsp;&nbsp;7/23/2025 | &nbsp;&nbsp;18084 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;1723750 | &nbsp;&nbsp;NOK | &nbsp;&nbsp;20257165 | &nbsp;&nbsp;SCB | &nbsp;&nbsp;7/23/2025 | &nbsp;&nbsp;23307 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;1725625 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1982653 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;7/23/2025 | &nbsp;&nbsp;52866 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;3451250 | &nbsp;&nbsp;USD | &nbsp;&nbsp;3981558 | &nbsp;&nbsp;HUS | &nbsp;&nbsp;7/23/2025 | &nbsp;&nbsp;89480 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;1725625 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1986134 | &nbsp;&nbsp;RBC | &nbsp;&nbsp;7/23/2025 | &nbsp;&nbsp;49385 | &nbsp;&nbsp;— |
| JPY | &nbsp;&nbsp;1986101399 | &nbsp;&nbsp;USD | &nbsp;&nbsp;13780413 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;7/23/2025 | &nbsp;&nbsp;43848 | &nbsp;&nbsp;— |
| JPY | &nbsp;&nbsp;251653221 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1720833 | &nbsp;&nbsp;HUS | &nbsp;&nbsp;7/23/2025 | &nbsp;&nbsp;30799 | &nbsp;&nbsp;— |
| JPY | &nbsp;&nbsp;249925058 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1720833 | &nbsp;&nbsp;RBC | &nbsp;&nbsp;7/23/2025 | &nbsp;&nbsp;18770 | &nbsp;&nbsp;— |
| JPY | &nbsp;&nbsp;496917125 | &nbsp;&nbsp;USD | &nbsp;&nbsp;3441666 | &nbsp;&nbsp;UBS | &nbsp;&nbsp;7/23/2025 | &nbsp;&nbsp;17125 | &nbsp;&nbsp;— |
| MXN | &nbsp;&nbsp;48449700 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;3448500 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;7/23/2025 | &nbsp;&nbsp;41324 | &nbsp;&nbsp;— |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 95 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Strategic Income Opportunities Trust (continued) FORWARD FOREIGN CURRENCY CONTRACTS (continued)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Contract to buy** | **Contract to buy** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Counterparty (OTC)** | &nbsp;&nbsp;**Contractual<br> settlement<br> date** | &nbsp;&nbsp;**Unrealized<br> appreciation** | &nbsp;&nbsp;**Unrealized<br> depreciation** |
| MXN | &nbsp;&nbsp;50627419 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;3603750 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;7/23/2025 | &nbsp;&nbsp;$43000 | &nbsp;&nbsp;— |
| MXN | &nbsp;&nbsp;18353096 | &nbsp;&nbsp;USD | &nbsp;&nbsp;955318 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;14862 | &nbsp;&nbsp;— |
| NOK | &nbsp;&nbsp;40578368 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;3451000 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;7/23/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(44389) |
| NOK | &nbsp;&nbsp;20085036 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;1728400 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;7/23/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(45872) |
| NOK | &nbsp;&nbsp;19820444 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;1728400 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;7/23/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(72126) |
| NOK | &nbsp;&nbsp;40418295 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;3453900 | &nbsp;&nbsp;HUS | &nbsp;&nbsp;7/23/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(63692) |
| NOK | &nbsp;&nbsp;60031185 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;5179400 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;7/23/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(152991) |
| NOK | &nbsp;&nbsp;40067454 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;3453900 | &nbsp;&nbsp;RBC | &nbsp;&nbsp;7/23/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(98505) |
| NOK | &nbsp;&nbsp;20128993 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;1725500 | &nbsp;&nbsp;UBS | &nbsp;&nbsp;7/23/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(38089) |
| NOK | &nbsp;&nbsp;11827210 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1169491 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;4463 | &nbsp;&nbsp;— |
| NOK | &nbsp;&nbsp;1533972 | &nbsp;&nbsp;USD | &nbsp;&nbsp;154089 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1828) |
| NOK | &nbsp;&nbsp;11843149 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1169491 | &nbsp;&nbsp;UBS | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;6045 | &nbsp;&nbsp;— |
| SGD | &nbsp;&nbsp;2993064 | &nbsp;&nbsp;USD | &nbsp;&nbsp;2347833 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;19284 | &nbsp;&nbsp;— |
| SGD | &nbsp;&nbsp;4481373 | &nbsp;&nbsp;USD | &nbsp;&nbsp;3521749 | &nbsp;&nbsp;HUS | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;22423 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;7933616 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;6902500 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;7/23/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(208461) |
| USD | &nbsp;&nbsp;2226180 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;1887678 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8722) |
| USD | &nbsp;&nbsp;4451097 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;3775356 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18705) |
| USD | &nbsp;&nbsp;1849051 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;1343845 | &nbsp;&nbsp;UBS | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;3518 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;3444416 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;497008627 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;7/23/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15013) |
| USD | &nbsp;&nbsp;3444416 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;499907344 | &nbsp;&nbsp;HUS | &nbsp;&nbsp;7/23/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(35190) |
| USD | &nbsp;&nbsp;3444416 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;496021388 | &nbsp;&nbsp;RBC | &nbsp;&nbsp;7/23/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8141) |
| USD | &nbsp;&nbsp;5163875 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;744215196 | &nbsp;&nbsp;SCB | &nbsp;&nbsp;7/23/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16236) |
| USD | &nbsp;&nbsp;3444416 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;496641797 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;7/23/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12460) |
| USD | &nbsp;&nbsp;1722208 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;248415240 | &nbsp;&nbsp;UBS | &nbsp;&nbsp;7/23/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6886) |
| USD | &nbsp;&nbsp;1754535 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;251552876 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7403) |
| USD | &nbsp;&nbsp;888535 | &nbsp;&nbsp;MXN | &nbsp;&nbsp;16932542 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6552) |
| USD | &nbsp;&nbsp;3941156 | &nbsp;&nbsp;MXN | &nbsp;&nbsp;75926925 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(72489) |
| USD | &nbsp;&nbsp;5462855 | &nbsp;&nbsp;NOK | &nbsp;&nbsp;55232005 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19406) |
| USD | &nbsp;&nbsp;5632083 | &nbsp;&nbsp;SGD | &nbsp;&nbsp;7208447 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(68842) |
| USD | &nbsp;&nbsp;2421210 | &nbsp;&nbsp;SGD | &nbsp;&nbsp;3078254 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13280) |
| USD | &nbsp;&nbsp;6053026 | &nbsp;&nbsp;SGD | &nbsp;&nbsp;7714460 | &nbsp;&nbsp;HUS | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(48089) |
| USD | &nbsp;&nbsp;2421210 | &nbsp;&nbsp;SGD | &nbsp;&nbsp;3079779 | &nbsp;&nbsp;RBC | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14487) |
| USD | &nbsp;&nbsp;2421210 | &nbsp;&nbsp;SGD | &nbsp;&nbsp;3073848 | &nbsp;&nbsp;SCB | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9795) |
| USD | &nbsp;&nbsp;4505667 | &nbsp;&nbsp;SGD | &nbsp;&nbsp;5769168 | &nbsp;&nbsp;UBS | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(56980) |
|  |  |  |  |  |  | &nbsp;&nbsp;**$960870** | &nbsp;&nbsp;**$(1196523)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

#### WRITTEN OPTIONS

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Foreign currency options** | **Foreign currency options** | **Foreign currency options** | **Foreign currency options** | **Foreign currency options** | **Foreign currency options** | **Foreign currency options** | **Foreign currency options** |
| **Description** | &nbsp;&nbsp;**Counterparty (OTC)** | &nbsp;&nbsp;**Currency** | &nbsp;&nbsp;**Exercise<br> price** | &nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;**Notional<br> amount\*** | &nbsp;&nbsp;**Premium** | &nbsp;&nbsp;**Value** |
| **Calls** |  |  |  |  |  |  |  |
| Euro vs. U.S. Dollar | &nbsp;&nbsp;JPM | &nbsp;&nbsp;EUR | &nbsp;&nbsp;1.20 | &nbsp;&nbsp;Jul 2025 | &nbsp;&nbsp;&nbsp;&nbsp;3730000 | &nbsp;&nbsp;$14972 | &nbsp;&nbsp;$(17065) |
| Euro vs. U.S. Dollar | &nbsp;&nbsp;GSI | &nbsp;&nbsp;EUR | &nbsp;&nbsp;1.20 | &nbsp;&nbsp;Jul 2025 | &nbsp;&nbsp;11240000 | &nbsp;&nbsp;&nbsp;&nbsp;43153 | &nbsp;&nbsp;&nbsp;&nbsp;(49121) |
| U.S. Dollar vs. Chinese Yuan | &nbsp;&nbsp;JPM | &nbsp;&nbsp;USD | &nbsp;&nbsp;7.65 | &nbsp;&nbsp;Nov 2025 | &nbsp;&nbsp;&nbsp;&nbsp;4150000 | &nbsp;&nbsp;&nbsp;&nbsp;22742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1332) |
|  |  |  |  |  |  | &nbsp;&nbsp;**$80867** | &nbsp;&nbsp;**$(67518)** |
| \* For this type of option, notional amounts are equivalent to number of contracts. | \* For this type of option, notional amounts are equivalent to number of contracts. | \* For this type of option, notional amounts are equivalent to number of contracts. | \* For this type of option, notional amounts are equivalent to number of contracts. | \* For this type of option, notional amounts are equivalent to number of contracts. | \* For this type of option, notional amounts are equivalent to number of contracts. | \* For this type of option, notional amounts are equivalent to number of contracts. | \* For this type of option, notional amounts are equivalent to number of contracts. |

---

---

| | |
|:---|:---|
| <u>Derivatives Currency Abbreviations</u> | <u>Derivatives Currency Abbreviations</u> |
| CAD | Canadian Dollar |
| EUR | Euro |
| GBP | Pound Sterling |
| JPY | Japanese Yen |
| MXN | Mexican Peso |
| NOK | Norwegian Krone |
| SGD | Singapore Dollar |
| USD | U.S. Dollar |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 96 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Strategic Income Opportunities Trust (continued)

---

| | |
|:---|:---|
| <u>Derivatives Abbreviations</u> | <u>Derivatives Abbreviations</u> |
| BARC | Barclays Bank PLC |
| CITI | Citibank, N.A. |
| GSI | Goldman Sachs International |
| HUS | HSBC Bank USA, N.A. |
| JPM | JPMorgan Chase Bank, N.A. |
| MSCS | Morgan Stanley Capital Services LLC |
| OTC | Over-the-counter |
| RBC | Royal Bank of Canada |
| SCB | Standard Chartered Bank |
| SSB | State Street Bank and Trust Company |
| UBS | UBS AG |

---

&nbsp;&nbsp;&nbsp;&nbsp;

See Notes to financial statements regarding investment transactions and other derivatives information.

#### Total Bond Market Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY OBLIGATIONS –<br> 71.1%** | **U.S. GOVERNMENT AND AGENCY OBLIGATIONS –<br> 71.1%** |  |
| **U.S. Government – 45.9%** |  |  |
| U.S. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;1.250%, 05/15/2050 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6025000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2893883 |
| &nbsp;&nbsp;&nbsp;2.000%, 11/15/2041 to 08/15/2051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11044687 |
| &nbsp;&nbsp;&nbsp;2.250%, 08/15/2049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1254609 |
| &nbsp;&nbsp;&nbsp;2.750%, 08/15/2047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2138203 |
| &nbsp;&nbsp;&nbsp;2.875%, 05/15/2049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1076777 |
| &nbsp;&nbsp;&nbsp;3.000%, 02/15/2047 to 02/15/2049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22355000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16669635 |
| &nbsp;&nbsp;&nbsp;3.375%, 08/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5160000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4330973 |
| &nbsp;&nbsp;&nbsp;3.625%, 02/15/2053 to 05/15/2053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6570000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5360428 |
| &nbsp;&nbsp;&nbsp;3.875%, 02/15/2043 to 05/15/2043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5655000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5057861 |
| &nbsp;&nbsp;&nbsp;4.000%, 11/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5247422 |
| &nbsp;&nbsp;&nbsp;4.125%, 08/15/2053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1725000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1540843 |
| &nbsp;&nbsp;&nbsp;4.250%, 05/15/2039 to 08/15/2054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19699000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18233538 |
| &nbsp;&nbsp;&nbsp;4.375%, 05/15/2041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1330000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1288905 |
| &nbsp;&nbsp;&nbsp;4.500%, 02/15/2044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1910000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1845538 |
| &nbsp;&nbsp;&nbsp;4.625%, 02/15/2040 to 02/15/2055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15702000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15462570 |
| &nbsp;&nbsp;&nbsp;4.750%, 02/15/2041 to 05/15/2055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10685000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10658715 |
| &nbsp;&nbsp;&nbsp;5.000%, 05/15/2045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2620000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2691231 |
| U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;1.500%, 01/31/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6825000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6583192 |
| &nbsp;&nbsp;&nbsp;2.250%, 11/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20595000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19915204 |
| &nbsp;&nbsp;&nbsp;2.875%, 05/15/2028 to 05/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6730000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6493717 |
| &nbsp;&nbsp;&nbsp;3.125%, 08/31/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3950781 |
| &nbsp;&nbsp;&nbsp;3.375%, 09/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2979258 |
| &nbsp;&nbsp;&nbsp;3.500%, 09/30/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2984531 |
| &nbsp;&nbsp;&nbsp;3.750%, 04/30/2027 to 12/31/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29935000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29966945 |
| &nbsp;&nbsp;&nbsp;3.875%, 03/31/2027 to 06/30/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41030000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41181547 |
| &nbsp;&nbsp;&nbsp;4.000%, 12/15/2027 to 06/30/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43415000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43717728 |
| &nbsp;&nbsp;&nbsp;4.125%, 10/31/2026 to 11/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99892000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100793116 |
| &nbsp;&nbsp;&nbsp;4.250%, 11/30/2026 to 05/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41937000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42309835 |
| &nbsp;&nbsp;&nbsp;4.375%, 07/15/2027 to 01/31/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12613000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12879787 |
| &nbsp;&nbsp;&nbsp;4.500%, 05/15/2027 to 11/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39481004 |
| &nbsp;&nbsp;&nbsp;4.625%, 06/15/2027 to 05/31/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20120000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20782226 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480814689 |
| **U.S. Government Agency – 25.2%** |  |  |
| Federal Home Loan Bank |  |  |
| &nbsp;&nbsp;&nbsp;4.100%, 08/28/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;991282 |
| &nbsp;&nbsp;&nbsp;5.500%, 07/15/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1690000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1842013 |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;1.500%, 12/01/2036 to 03/01/2051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4786972 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3808122 |
| &nbsp;&nbsp;&nbsp;2.000%, 07/01/2035 to 12/01/2051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8196716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6677949 |
| &nbsp;&nbsp;&nbsp;2.500%, 04/01/2031 to 04/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10233887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8603751 |
| &nbsp;&nbsp;&nbsp;3.000%, 07/01/2032 to 08/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10301312 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9127633 |
| &nbsp;&nbsp;&nbsp;3.500%, 12/01/2025 to 07/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6085842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5570100 |
| &nbsp;&nbsp;&nbsp;4.000%, 12/01/2039 to 09/01/2047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;972243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;929356 |

---

#### Total Bond Market Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** | **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Federal Home Loan<br> Mortgage Corp. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 07/01/2029 to 07/01/2052 | $&nbsp;&nbsp;5868255 | $&nbsp;&nbsp;&nbsp;5674085 |
| &nbsp;&nbsp;&nbsp;5.000%, 07/01/2035 to 07/01/2053 | &nbsp;&nbsp;3796996 | &nbsp;&nbsp;&nbsp;3739431 |
| &nbsp;&nbsp;&nbsp;5.500%, 04/01/2027 to 12/01/2054 | &nbsp;&nbsp;8496494 | &nbsp;&nbsp;&nbsp;8534258 |
| &nbsp;&nbsp;&nbsp;6.000%, 10/01/2036 to 05/01/2055 | 11775045 | 12027702 |
| &nbsp;&nbsp;&nbsp;6.250%, 07/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;510212 |
| &nbsp;&nbsp;&nbsp;6.500%, 08/01/2037 to 09/01/2053 | &nbsp;&nbsp;1587159 | &nbsp;&nbsp;&nbsp;1652852 |
| &nbsp;&nbsp;&nbsp;6.750%, 09/15/2029 | &nbsp;&nbsp;1200000 | &nbsp;&nbsp;&nbsp;1336719 |
| &nbsp;&nbsp;&nbsp;7.000%, 04/01/2029 to 04/01/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5328 |
| &nbsp;&nbsp;&nbsp;7.500%, 09/01/2030 to 03/01/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3372 |
| &nbsp;&nbsp;&nbsp;7.586%, (1 Year Refinitiv USD IBOR Consumer Cash Fallback Rate + 1.837%), 08/01/2037 (A) | &nbsp;&nbsp;&nbsp;&nbsp;208317 | &nbsp;&nbsp;&nbsp;&nbsp;214897 |
| &nbsp;&nbsp;&nbsp;8.000%, 02/01/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;1.500%, 11/01/2036 to 02/01/2051 | &nbsp;&nbsp;5038839 | &nbsp;&nbsp;&nbsp;4281714 |
| &nbsp;&nbsp;&nbsp;2.000%, 02/01/2035 to 06/01/2052 | 50853179 | 41682931 |
| &nbsp;&nbsp;&nbsp;2.500%, 05/01/2028 to 04/01/2052 | 28898086 | 24691630 |
| &nbsp;&nbsp;&nbsp;3.000%, 01/01/2027 to 03/01/2052 | 15032203 | 13432320 |
| &nbsp;&nbsp;&nbsp;3.500%, 12/01/2025 to 07/01/2052 | &nbsp;&nbsp;9151085 | &nbsp;&nbsp;&nbsp;8423051 |
| &nbsp;&nbsp;&nbsp;4.000%, 02/01/2031 to 04/01/2053 | 13787355 | 13059252 |
| &nbsp;&nbsp;&nbsp;4.500%, 08/01/2033 to 07/01/2053 | &nbsp;&nbsp;4020208 | &nbsp;&nbsp;&nbsp;3895281 |
| &nbsp;&nbsp;&nbsp;5.000%, 12/01/2034 to 10/01/2054 | &nbsp;&nbsp;8405678 | &nbsp;&nbsp;&nbsp;8307766 |
| &nbsp;&nbsp;&nbsp;5.500%, 01/01/2034 to 02/01/2055 | &nbsp;&nbsp;6355109 | &nbsp;&nbsp;&nbsp;6397091 |
| &nbsp;&nbsp;&nbsp;5.625%, 07/15/2037 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;547918 |
| &nbsp;&nbsp;&nbsp;6.000%, 07/01/2027 to 02/01/2055 | &nbsp;&nbsp;3173047 | &nbsp;&nbsp;&nbsp;3236497 |
| &nbsp;&nbsp;&nbsp;6.037%, (6 month Refinitiv USD IBOR Consumer Cash Fallback Rate + 1.411%), 07/01/2034 (A) | &nbsp;&nbsp;&nbsp;&nbsp;29348 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29762 |
| &nbsp;&nbsp;&nbsp;6.307%, (1 Year CMT + 2.185%), 05/01/2036 (A) | &nbsp;&nbsp;&nbsp;&nbsp;27216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27861 |
| &nbsp;&nbsp;&nbsp;6.335%, (1 Year Refinitiv USD IBOR Consumer Cash Fallback Rate + 1.335%), 01/01/2035 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8575 |
| &nbsp;&nbsp;&nbsp;6.439%, (1 Year Refinitiv USD IBOR Consumer Cash Fallback Rate + 1.587%), 09/01/2037 (A) | &nbsp;&nbsp;&nbsp;&nbsp;32654 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33634 |
| &nbsp;&nbsp;&nbsp;6.500%, 07/01/2031 to 12/01/2053 | &nbsp;&nbsp;2175804 | &nbsp;&nbsp;&nbsp;2256021 |
| &nbsp;&nbsp;&nbsp;6.875%, (1 Year Refinitiv USD IBOR Consumer Cash Fallback Rate + 1.875%), 04/01/2037 (A) | &nbsp;&nbsp;&nbsp;&nbsp;37045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38533 |
| &nbsp;&nbsp;&nbsp;7.000%, 02/01/2031 to 10/01/2038 | &nbsp;&nbsp;&nbsp;&nbsp;21941 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23396 |
| &nbsp;&nbsp;&nbsp;7.125%, 01/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;209000 | &nbsp;&nbsp;&nbsp;&nbsp;237691 |
| &nbsp;&nbsp;&nbsp;7.250%, 05/15/2030 | &nbsp;&nbsp;1450000 | &nbsp;&nbsp;&nbsp;1669935 |
| &nbsp;&nbsp;&nbsp;7.500%, 09/01/2030 to 08/01/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9863 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 97 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Total Bond Market Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** | **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Federal National<br> Mortgage Association (continued) |  |  |
| &nbsp;&nbsp;&nbsp;8.000%, 08/01/2030 to 09/01/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1216 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1260 |
| &nbsp;&nbsp;&nbsp;8.500%, 09/01/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145 |
| Government National<br> Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, 11/20/2050 to 08/20/2051 | 11191179 | &nbsp;&nbsp;&nbsp;&nbsp;9124287 |
| &nbsp;&nbsp;&nbsp;2.500%, 08/20/2050 to 11/20/2051 | 10579430 | &nbsp;&nbsp;&nbsp;&nbsp;9001064 |
| &nbsp;&nbsp;&nbsp;3.000%, 08/15/2043 to 05/20/2053 | &nbsp;&nbsp;9062237 | &nbsp;&nbsp;&nbsp;&nbsp;8061155 |
| &nbsp;&nbsp;&nbsp;3.500%, 04/15/2042 to 01/20/2052 | &nbsp;&nbsp;6826697 | &nbsp;&nbsp;&nbsp;&nbsp;6295896 |
| &nbsp;&nbsp;&nbsp;4.000%, 11/15/2026 to 03/20/2053 | &nbsp;&nbsp;5520155 | &nbsp;&nbsp;&nbsp;&nbsp;5203066 |
| &nbsp;&nbsp;&nbsp;4.500%, 08/15/2033 to 07/20/2053 | &nbsp;&nbsp;5063343 | &nbsp;&nbsp;&nbsp;&nbsp;4900138 |
| &nbsp;&nbsp;&nbsp;5.000%, 08/15/2033 to 10/20/2054 | &nbsp;&nbsp;6638505 | &nbsp;&nbsp;&nbsp;&nbsp;6555057 |
| &nbsp;&nbsp;&nbsp;5.500%, 11/15/2032 to 02/20/2055 | &nbsp;&nbsp;6638563 | &nbsp;&nbsp;&nbsp;&nbsp;6674766 |
| &nbsp;&nbsp;&nbsp;6.000%, 07/15/2029 to 06/20/2055 | &nbsp;&nbsp;4015831 | &nbsp;&nbsp;&nbsp;&nbsp;4088841 |
| &nbsp;&nbsp;&nbsp;6.500%, 05/15/2028 to 11/20/2052 | &nbsp;&nbsp;&nbsp;&nbsp;803444 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;829308 |
| &nbsp;&nbsp;&nbsp;7.000%, 08/15/2029 to 05/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8823 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9036 |
| &nbsp;&nbsp;&nbsp;7.500%, 09/15/2030 to 01/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2526 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2621 |
|  |  | 264286580 |
| TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $788,723,465) | TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $788,723,465) | $745101269 |
| **FOREIGN GOVERNMENT OBLIGATIONS – 0.8%** | **FOREIGN GOVERNMENT OBLIGATIONS – 0.8%** |  |
| **Canada – 0.0%** |  |  |
| Province of British Columbia<br> 6.500%, 01/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;490000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495037 |
| **Chile – 0.1%** |  |  |
| Republic of Chile<br> 3.100%, 05/07/2041 | &nbsp;&nbsp;&nbsp;&nbsp;675000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;501093 |
| **Indonesia – 0.1%** |  |  |
| Republic of Indonesia<br> 3.850%, 10/15/2030 | &nbsp;&nbsp;1050000 | &nbsp;&nbsp;&nbsp;&nbsp;1022654 |
| **Italy – 0.1%** |  |  |
| Republic of Italy<br> 5.375%, 06/15/2033 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;1045236 |
| **Japan – 0.1%** |  |  |
| Japan Bank for International Cooperation<br> 3.500%, 10/31/2028 | &nbsp;&nbsp;&nbsp;&nbsp;830000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;819965 |
| **Mexico – 0.3%** |  |  |
| Government of Mexico |  |  |
| &nbsp;&nbsp;&nbsp;3.750%, 01/11/2028 | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;1956700 |
| &nbsp;&nbsp;&nbsp;6.050%, 01/11/2040 | &nbsp;&nbsp;&nbsp;&nbsp;930000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;886755 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2843455 |
| **Panama – 0.0%** |  |  |
| Republic of Panama<br> 6.700%, 01/26/2036 | &nbsp;&nbsp;&nbsp;&nbsp;370000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;367461 |
| **Peru – 0.0%** |  |  |
| Republic of Peru<br> 6.550%, 03/14/2037 | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;271203 |
| **Poland – 0.1%** |  |  |
| Republic of Poland<br> 5.125%, 09/18/2034 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;1003742 |
| TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $8,632,224) | TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $8,632,224) | $&nbsp;&nbsp;&nbsp;&nbsp;8369846 |
| **CORPORATE BONDS – 24.7%** | **CORPORATE BONDS – 24.7%** |  |
| **Communication services – 1.8%** |  |  |
| Alphabet, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.100%, 08/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;259164 |
| &nbsp;&nbsp;&nbsp;2.050%, 08/15/2050 | &nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223337 |
| AT&T, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.550%, 12/01/2033 | &nbsp;&nbsp;&nbsp;&nbsp;665000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;556543 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Communication services (continued)** |  |  |
| AT&T, Inc. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;3.800%, 12/01/2057 | $&nbsp;&nbsp;644000 | $&nbsp;&nbsp;&nbsp;&nbsp;450608 |
| &nbsp;&nbsp;&nbsp;4.750%, 05/15/2046 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;610797 |
| &nbsp;&nbsp;&nbsp;4.850%, 07/15/2045 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;441049 |
| &nbsp;&nbsp;&nbsp;5.150%, 03/15/2042 | &nbsp;&nbsp;115000 | &nbsp;&nbsp;&nbsp;&nbsp;108137 |
| &nbsp;&nbsp;&nbsp;5.400%, 02/15/2034 | &nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;822818 |
| &nbsp;&nbsp;&nbsp;6.375%, 03/01/2041 | &nbsp;&nbsp;380000 | &nbsp;&nbsp;&nbsp;&nbsp;404363 |
| British Telecommunications PLC<br> 9.625%, 12/15/2030 | &nbsp;&nbsp;205000 | &nbsp;&nbsp;&nbsp;&nbsp;252155 |
| Charter Communications Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;2.800%, 04/01/2031 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;535016 |
| &nbsp;&nbsp;&nbsp;5.050%, 03/30/2029 | &nbsp;&nbsp;420000 | &nbsp;&nbsp;&nbsp;&nbsp;424004 |
| &nbsp;&nbsp;&nbsp;5.375%, 05/01/2047 | &nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;455653 |
| Comcast Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.350%, 01/15/2027 | &nbsp;&nbsp;275000 | &nbsp;&nbsp;&nbsp;&nbsp;267529 |
| &nbsp;&nbsp;&nbsp;2.887%, 11/01/2051 | &nbsp;&nbsp;256000 | &nbsp;&nbsp;&nbsp;&nbsp;155796 |
| &nbsp;&nbsp;&nbsp;3.450%, 02/01/2050 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;342854 |
| &nbsp;&nbsp;&nbsp;3.999%, 11/01/2049 | &nbsp;&nbsp;545000 | &nbsp;&nbsp;&nbsp;&nbsp;414226 |
| &nbsp;&nbsp;&nbsp;4.049%, 11/01/2052 | 1065000 | &nbsp;&nbsp;&nbsp;&nbsp;801168 |
| &nbsp;&nbsp;&nbsp;4.600%, 10/15/2038 | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;185219 |
| &nbsp;&nbsp;&nbsp;6.500%, 11/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp;72000 | &nbsp;&nbsp;&nbsp;&nbsp;79915 |
| Deutsche Telekom International Finance BV<br> 8.750%, 06/15/2030 | &nbsp;&nbsp;161000 | &nbsp;&nbsp;&nbsp;&nbsp;190074 |
| Fox Corp.<br> 3.500%, 04/08/2030 | &nbsp;&nbsp;640000 | &nbsp;&nbsp;&nbsp;&nbsp;612170 |
| Grupo Televisa SAB<br> 6.625%, 01/15/2040 | &nbsp;&nbsp;220000 | &nbsp;&nbsp;&nbsp;&nbsp;205828 |
| Meta Platforms, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.600%, 05/15/2028 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;254581 |
| &nbsp;&nbsp;&nbsp;4.950%, 05/15/2033 | &nbsp;&nbsp;745000 | &nbsp;&nbsp;&nbsp;&nbsp;763912 |
| Netflix, Inc.<br> 4.875%, 04/15/2028 | &nbsp;&nbsp;320000 | &nbsp;&nbsp;&nbsp;&nbsp;326703 |
| Oracle Corp.<br> 4.200%, 09/27/2029 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;297935 |
| Paramount Global<br> 4.950%, 05/19/2050 | &nbsp;&nbsp;495000 | &nbsp;&nbsp;&nbsp;&nbsp;378700 |
| Rogers Communications, Inc.<br> 4.500%, 03/15/2042 | &nbsp;&nbsp;735000 | &nbsp;&nbsp;&nbsp;&nbsp;626309 |
| TCI Communications, Inc.<br> 7.125%, 02/15/2028 | &nbsp;&nbsp;110000 | &nbsp;&nbsp;&nbsp;&nbsp;117909 |
| Telefonica Emisiones SA<br> 7.045%, 06/20/2036 | &nbsp;&nbsp;230000 | &nbsp;&nbsp;&nbsp;&nbsp;255362 |
| Telefonica Europe BV<br> 8.250%, 09/15/2030 | &nbsp;&nbsp;380000 | &nbsp;&nbsp;&nbsp;&nbsp;439163 |
| The Walt Disney Company |  |  |
| &nbsp;&nbsp;&nbsp;2.650%, 01/13/2031 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;368757 |
| &nbsp;&nbsp;&nbsp;6.200%, 12/15/2034 | &nbsp;&nbsp;480000 | &nbsp;&nbsp;&nbsp;&nbsp;535665 |
| Time Warner Cable Enterprises LLC<br> 8.375%, 07/15/2033 | &nbsp;&nbsp;570000 | &nbsp;&nbsp;&nbsp;&nbsp;663756 |
| T-Mobile USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, 02/15/2041 | &nbsp;&nbsp;430000 | &nbsp;&nbsp;&nbsp;&nbsp;314655 |
| &nbsp;&nbsp;&nbsp;3.875%, 04/15/2030 | &nbsp;&nbsp;635000 | &nbsp;&nbsp;&nbsp;&nbsp;616723 |
| &nbsp;&nbsp;&nbsp;4.500%, 04/15/2050 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;578797 |
| &nbsp;&nbsp;&nbsp;5.750%, 01/15/2054 | &nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;734698 |
| TWDC Enterprises 18 Corp.<br> 4.125%, 06/01/2044 | &nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;438006 |
| Verizon Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.680%, 10/30/2030 | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;173046 |
| &nbsp;&nbsp;&nbsp;2.875%, 11/20/2050 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;311455 |
| &nbsp;&nbsp;&nbsp;4.016%, 12/03/2029 | &nbsp;&nbsp;535000 | &nbsp;&nbsp;&nbsp;&nbsp;527862 |
| &nbsp;&nbsp;&nbsp;4.522%, 09/15/2048 | 1335000 | 1128509 |
| Vodafone Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, 05/30/2048 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;275672 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 98 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Total Bond Market Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Communication services (continued)** |  |  |
| Vodafone Group PLC (continued) |  |  |
| &nbsp;&nbsp;&nbsp;6.150%, 02/27/2037 | $330000 | $&nbsp;&nbsp;&nbsp;&nbsp;354203 |
|  |  | 19280801 |
| **Consumer discretionary – 1.4%** |  |  |
| Amazon.com, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.100%, 05/12/2031 | 400000 | &nbsp;&nbsp;&nbsp;&nbsp;355147 |
| &nbsp;&nbsp;&nbsp;2.500%, 06/03/2050 | 800000 | &nbsp;&nbsp;&nbsp;&nbsp;480807 |
| &nbsp;&nbsp;&nbsp;4.050%, 08/22/2047 | 450000 | &nbsp;&nbsp;&nbsp;&nbsp;371232 |
| &nbsp;&nbsp;&nbsp;4.700%, 12/01/2032 | 750000 | &nbsp;&nbsp;&nbsp;&nbsp;764339 |
| American Honda Finance Corp.<br> 1.800%, 01/13/2031 | 625000 | &nbsp;&nbsp;&nbsp;&nbsp;536690 |
| AutoZone, Inc.<br> 3.750%, 06/01/2027 | 635000 | &nbsp;&nbsp;&nbsp;&nbsp;628700 |
| Booking Holdings, Inc.<br> 3.550%, 03/15/2028 | 320000 | &nbsp;&nbsp;&nbsp;&nbsp;314917 |
| Choice Hotels International, Inc.<br> 3.700%, 01/15/2031 | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;185489 |
| D.R. Horton, Inc.<br> 1.400%, 10/15/2027 | 220000 | &nbsp;&nbsp;&nbsp;&nbsp;206855 |
| Expedia Group, Inc.<br> 3.250%, 02/15/2030 | 300000 | &nbsp;&nbsp;&nbsp;&nbsp;283000 |
| Ford Motor Credit Company LLC<br> 6.798%, 11/07/2028 | 720000 | &nbsp;&nbsp;&nbsp;&nbsp;745951 |
| General Motors Company<br> 5.400%, 04/01/2048 (B) | 315000 | &nbsp;&nbsp;&nbsp;&nbsp;273611 |
| General Motors Financial Company, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.400%, 10/15/2028 | 345000 | &nbsp;&nbsp;&nbsp;&nbsp;321100 |
| &nbsp;&nbsp;&nbsp;3.100%, 01/12/2032 | 380000 | &nbsp;&nbsp;&nbsp;&nbsp;333881 |
| &nbsp;&nbsp;&nbsp;3.600%, 06/21/2030 | 420000 | &nbsp;&nbsp;&nbsp;&nbsp;393003 |
| &nbsp;&nbsp;&nbsp;5.350%, 07/15/2027 | 300000 | &nbsp;&nbsp;&nbsp;&nbsp;304495 |
| &nbsp;&nbsp;&nbsp;5.900%, 01/07/2035 | 350000 | &nbsp;&nbsp;&nbsp;&nbsp;351857 |
| &nbsp;&nbsp;&nbsp;5.950%, 04/04/2034 | 220000 | &nbsp;&nbsp;&nbsp;&nbsp;223129 |
| Lennar Corp.<br> 4.750%, 11/29/2027 | 315000 | &nbsp;&nbsp;&nbsp;&nbsp;317149 |
| Lowe's Companies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.650%, 04/05/2029 | 600000 | &nbsp;&nbsp;&nbsp;&nbsp;586014 |
| &nbsp;&nbsp;&nbsp;3.750%, 04/01/2032 | 550000 | &nbsp;&nbsp;&nbsp;&nbsp;518718 |
| McDonald's Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.950%, 03/03/2035 | 500000 | &nbsp;&nbsp;&nbsp;&nbsp;499706 |
| &nbsp;&nbsp;&nbsp;5.000%, 05/17/2029 | 550000 | &nbsp;&nbsp;&nbsp;&nbsp;564982 |
| NIKE, Inc.<br> 2.850%, 03/27/2030 | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;235514 |
| Starbucks Corp.<br> 3.550%, 08/15/2029 | 315000 | &nbsp;&nbsp;&nbsp;&nbsp;306456 |
| The Home Depot, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.375%, 03/15/2031 | 645000 | &nbsp;&nbsp;&nbsp;&nbsp;547180 |
| &nbsp;&nbsp;&nbsp;2.700%, 04/15/2030 | 650000 | &nbsp;&nbsp;&nbsp;&nbsp;606979 |
| &nbsp;&nbsp;&nbsp;4.250%, 04/01/2046 | 310000 | &nbsp;&nbsp;&nbsp;&nbsp;259779 |
| &nbsp;&nbsp;&nbsp;5.875%, 12/16/2036 | 155000 | &nbsp;&nbsp;&nbsp;&nbsp;166221 |
| The TJX Companies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 04/15/2030 | 400000 | &nbsp;&nbsp;&nbsp;&nbsp;394663 |
| &nbsp;&nbsp;&nbsp;4.500%, 04/15/2050 | 530000 | &nbsp;&nbsp;&nbsp;&nbsp;463111 |
| Toll Brothers Finance Corp.<br> 3.800%, 11/01/2029 | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;194082 |
| Toyota Motor Credit Corp. |  |  |
| &nbsp;&nbsp;&nbsp;1.150%, 08/13/2027 | 530000 | &nbsp;&nbsp;&nbsp;&nbsp;498296 |
| &nbsp;&nbsp;&nbsp;1.900%, 09/12/2031 | 730000 | &nbsp;&nbsp;&nbsp;&nbsp;626836 |
| &nbsp;&nbsp;&nbsp;3.050%, 01/11/2028 | 530000 | &nbsp;&nbsp;&nbsp;&nbsp;516174 |
| Yale University<br> 4.701%, 04/15/2032 | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;101414 |
|  |  | 14477477 |
| **Consumer staples – 1.5%** |  |  |
| Altria Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.400%, 02/04/2041 | 425000 | &nbsp;&nbsp;&nbsp;&nbsp;315275 |
| &nbsp;&nbsp;&nbsp;4.500%, 05/02/2043 | 500000 | &nbsp;&nbsp;&nbsp;&nbsp;416830 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Consumer staples (continued)** |  |  |
| Anheuser-Busch Companies LLC<br> 4.900%, 02/01/2046 | $&nbsp;&nbsp;464000 | $&nbsp;&nbsp;&nbsp;&nbsp;425321 |
| Anheuser-Busch InBev Worldwide, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.900%, 01/23/2031 | &nbsp;&nbsp;340000 | &nbsp;&nbsp;&nbsp;&nbsp;349762 |
| &nbsp;&nbsp;&nbsp;5.000%, 06/15/2034 | &nbsp;&nbsp;335000 | &nbsp;&nbsp;&nbsp;&nbsp;341966 |
| BAT Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.726%, 03/25/2031 | &nbsp;&nbsp;650000 | &nbsp;&nbsp;&nbsp;&nbsp;585357 |
| &nbsp;&nbsp;&nbsp;3.215%, 09/06/2026 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;493056 |
| Constellation Brands, Inc.<br> 4.500%, 05/09/2047 | &nbsp;&nbsp;370000 | &nbsp;&nbsp;&nbsp;&nbsp;307209 |
| Costco Wholesale Corp.<br> 1.600%, 04/20/2030 | &nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;468457 |
| Diageo Capital PLC<br> 2.000%, 04/29/2030 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;269863 |
| General Mills, Inc.<br> 2.875%, 04/15/2030 | &nbsp;&nbsp;635000 | &nbsp;&nbsp;&nbsp;&nbsp;590692 |
| JBS USA LUX SA |  |  |
| &nbsp;&nbsp;&nbsp;4.375%, 02/02/2052 | &nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96347 |
| &nbsp;&nbsp;&nbsp;5.125%, 02/01/2028 | &nbsp;&nbsp;215000 | &nbsp;&nbsp;&nbsp;&nbsp;219386 |
| &nbsp;&nbsp;&nbsp;5.750%, 04/01/2033 | &nbsp;&nbsp;425000 | &nbsp;&nbsp;&nbsp;&nbsp;436866 |
| Kellanova<br> 3.250%, 04/01/2026 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;396819 |
| Kenvue, Inc.<br> 4.900%, 03/22/2033 | &nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;532766 |
| Keurig Dr. Pepper, Inc.<br> 4.597%, 05/25/2028 | &nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;529011 |
| Kimberly-Clark Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.200%, 07/30/2046 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;210660 |
| &nbsp;&nbsp;&nbsp;4.500%, 02/16/2033 | &nbsp;&nbsp;220000 | &nbsp;&nbsp;&nbsp;&nbsp;220195 |
| Kraft Heinz Foods Company |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, 06/01/2026 | &nbsp;&nbsp;458000 | &nbsp;&nbsp;&nbsp;&nbsp;452022 |
| &nbsp;&nbsp;&nbsp;4.625%, 01/30/2029 | &nbsp;&nbsp;290000 | &nbsp;&nbsp;&nbsp;&nbsp;292922 |
| &nbsp;&nbsp;&nbsp;6.875%, 01/26/2039 | &nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44250 |
| Molson Coors Beverage Company<br> 5.000%, 05/01/2042 | &nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;136818 |
| Mondelez International, Inc.<br> 4.625%, 05/07/2048 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;248540 |
| PepsiCo, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, 10/15/2027 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;488880 |
| &nbsp;&nbsp;&nbsp;4.000%, 03/05/2042 | &nbsp;&nbsp;270000 | &nbsp;&nbsp;&nbsp;&nbsp;228433 |
| &nbsp;&nbsp;&nbsp;4.600%, 02/07/2030 | &nbsp;&nbsp;285000 | &nbsp;&nbsp;&nbsp;&nbsp;290265 |
| &nbsp;&nbsp;&nbsp;5.500%, 01/15/2040 | &nbsp;&nbsp;305000 | &nbsp;&nbsp;&nbsp;&nbsp;315504 |
| Philip Morris International, Inc.<br> 6.375%, 05/16/2038 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;333034 |
| Sysco Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.400%, 03/23/2035 | &nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50857 |
| &nbsp;&nbsp;&nbsp;6.600%, 04/01/2050 | 1000000 | &nbsp;&nbsp;&nbsp;1083100 |
| Target Corp.<br> 3.900%, 11/15/2047 | &nbsp;&nbsp;520000 | &nbsp;&nbsp;&nbsp;&nbsp;400792 |
| The Coca-Cola Company |  |  |
| &nbsp;&nbsp;&nbsp;2.125%, 09/06/2029 | &nbsp;&nbsp;425000 | &nbsp;&nbsp;&nbsp;&nbsp;394483 |
| &nbsp;&nbsp;&nbsp;2.500%, 06/01/2040 | &nbsp;&nbsp;430000 | &nbsp;&nbsp;&nbsp;&nbsp;313512 |
| The Estee Lauder Companies, Inc.<br> 2.600%, 04/15/2030 | &nbsp;&nbsp;635000 | &nbsp;&nbsp;&nbsp;&nbsp;585506 |
| The Kroger Company<br> 3.500%, 02/01/2026 | &nbsp;&nbsp;535000 | &nbsp;&nbsp;&nbsp;&nbsp;531755 |
| The Procter & Gamble Company<br> 3.600%, 03/25/2050 | &nbsp;&nbsp;630000 | &nbsp;&nbsp;&nbsp;&nbsp;479374 |
| Tyson Foods, Inc.<br> 4.350%, 03/01/2029 | &nbsp;&nbsp;425000 | &nbsp;&nbsp;&nbsp;&nbsp;422419 |
| Walmart, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.250%, 07/08/2029 | &nbsp;&nbsp;640000 | &nbsp;&nbsp;&nbsp;&nbsp;623605 |
| &nbsp;&nbsp;&nbsp;4.050%, 06/29/2048 | &nbsp;&nbsp;520000 | &nbsp;&nbsp;&nbsp;&nbsp;430458 |
|  |  | 15352367 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 99 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Total Bond Market Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Energy – 1.7%** |  |  |
| Baker Hughes Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;3.337%, 12/15/2027 | $500000 | $489880 |
| &nbsp;&nbsp;&nbsp;4.486%, 05/01/2030 | 550000 | 551188 |
| Berry Global, Inc.<br> 5.500%, 04/15/2028 | 280000 | 287251 |
| BP Capital Markets America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.893%, 09/11/2033 | 525000 | 526251 |
| &nbsp;&nbsp;&nbsp;5.017%, 11/17/2027 | 525000 | 534578 |
| Canadian Natural Resources, Ltd.<br> 6.250%, 03/15/2038 | 305000 | 316295 |
| Cenovus Energy, Inc.<br> 4.250%, 04/15/2027 | 330000 | 329071 |
| Chevron Corp.<br> 2.954%, 05/16/2026 | 600000 | 593176 |
| ConocoPhillips Company |  |  |
| &nbsp;&nbsp;&nbsp;4.300%, 11/15/2044 | 330000 | 274462 |
| &nbsp;&nbsp;&nbsp;5.000%, 01/15/2035 | 300000 | 299781 |
| Devon Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, 06/15/2045 | 885000 | 736085 |
| &nbsp;&nbsp;&nbsp;7.875%, 09/30/2031 | 210000 | 241756 |
| Diamondback Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.150%, 01/30/2030 | 325000 | 332415 |
| &nbsp;&nbsp;&nbsp;5.750%, 04/18/2054 | 200000 | 185645 |
| Enbridge, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.700%, 07/15/2027 | 300000 | 296266 |
| &nbsp;&nbsp;&nbsp;4.500%, 06/10/2044 | 335000 | 274572 |
| &nbsp;&nbsp;&nbsp;5.700%, 03/08/2033 | 525000 | 544311 |
| Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp;3.750%, 05/15/2030 | 455000 | 436554 |
| &nbsp;&nbsp;&nbsp;5.500%, 06/01/2027 | 635000 | 646349 |
| &nbsp;&nbsp;&nbsp;6.125%, 12/15/2045 | 370000 | 363405 |
| &nbsp;&nbsp;&nbsp;6.500%, 02/01/2042 | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;51818 |
| Enterprise Products Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;3.200%, 02/15/2052 (B) | 700000 | 456759 |
| &nbsp;&nbsp;&nbsp;4.850%, 08/15/2042 | 325000 | 297185 |
| &nbsp;&nbsp;&nbsp;6.875%, 03/01/2033 | 130000 | 146371 |
| Exxon Mobil Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.995%, 08/16/2039 | 425000 | 330974 |
| &nbsp;&nbsp;&nbsp;3.482%, 03/19/2030 | 520000 | 505459 |
| Kinder Morgan Energy Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;6.375%, 03/01/2041 | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;77482 |
| &nbsp;&nbsp;&nbsp;6.500%, 09/01/2039 | 180000 | 191258 |
| Kinder Morgan, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, 02/01/2029 | 625000 | 634743 |
| &nbsp;&nbsp;&nbsp;5.550%, 06/01/2045 | 400000 | 377320 |
| MPLX LP |  |  |
| &nbsp;&nbsp;&nbsp;4.800%, 02/15/2029 | 420000 | 424018 |
| &nbsp;&nbsp;&nbsp;5.000%, 03/01/2033 | 315000 | 310617 |
| &nbsp;&nbsp;&nbsp;5.200%, 03/01/2047 | 155000 | 135213 |
| Occidental Petroleum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.200%, 08/01/2029 | 250000 | 250804 |
| &nbsp;&nbsp;&nbsp;5.375%, 01/01/2032 | 100000 | &nbsp;&nbsp;&nbsp;99177 |
| &nbsp;&nbsp;&nbsp;6.625%, 09/01/2030 | 385000 | 407091 |
| ONEOK Partners LP<br> 6.650%, 10/01/2036 | 288000 | 309414 |
| ONEOK, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.650%, 11/01/2028 | 390000 | 404022 |
| &nbsp;&nbsp;&nbsp;6.625%, 09/01/2053 | 375000 | 389724 |
| Ovintiv, Inc.<br> 6.500%, 08/15/2034 | 290000 | 300968 |
| Phillips 66 Company<br> 3.750%, 03/01/2028 | 230000 | 225976 |
| Plains All American Pipeline LP<br> 4.900%, 02/15/2045 | 395000 | 336244 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Energy (continued)** |  |  |
| Shell Finance US, Inc.<br> 4.375%, 05/11/2045 | $1000000 | $&nbsp;&nbsp;&nbsp;&nbsp;846023 |
| Shell International Finance BV<br> 6.375%, 12/15/2038 | &nbsp;&nbsp;130000 | &nbsp;&nbsp;&nbsp;&nbsp;144213 |
| Suncor Energy, Inc.<br> 5.950%, 05/15/2035 (B) | &nbsp;&nbsp;163000 | &nbsp;&nbsp;&nbsp;&nbsp;166578 |
| Targa Resources Partners LP<br> 4.000%, 01/15/2032 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;465994 |
| The Williams Companies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, 11/15/2030 | &nbsp;&nbsp;425000 | &nbsp;&nbsp;&nbsp;&nbsp;401772 |
| &nbsp;&nbsp;&nbsp;5.100%, 09/15/2045 | &nbsp;&nbsp;420000 | &nbsp;&nbsp;&nbsp;&nbsp;380411 |
| &nbsp;&nbsp;&nbsp;5.300%, 09/30/2035 | &nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;150158 |
| TransCanada PipeLines, Ltd.<br> 5.850%, 03/15/2036 | &nbsp;&nbsp;425000 | &nbsp;&nbsp;&nbsp;&nbsp;438236 |
| Valero Energy Corp.<br> 7.500%, 04/15/2032 | &nbsp;&nbsp;270000 | &nbsp;&nbsp;&nbsp;&nbsp;308642 |
|  |  | 18223955 |
| **Financials – 8.1%** |  |  |
| Ally Financial, Inc.<br> 6.184%, (6.184% to 7-26-34, then Overnight SOFR + 2.290%), 07/26/2035 | &nbsp;&nbsp;160000 | &nbsp;&nbsp;&nbsp;&nbsp;163197 |
| American Express Company<br> 4.420%, (4.420% to 8-3-32, then Overnight SOFR + 1.760%), 08/03/2033 | 1046000 | &nbsp;&nbsp;&nbsp;1020732 |
| American International Group, Inc.<br> 5.125%, 03/27/2033 | &nbsp;&nbsp;440000 | &nbsp;&nbsp;&nbsp;&nbsp;447328 |
| Ameriprise Financial, Inc.<br> 5.150%, 05/15/2033 | &nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;538693 |
| Aon Corp.<br> 2.050%, 08/23/2031 | &nbsp;&nbsp;440000 | &nbsp;&nbsp;&nbsp;&nbsp;379849 |
| Aon North America, Inc.<br> 5.450%, 03/01/2034 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;308157 |
| Arch Capital Finance LLC<br> 4.011%, 12/15/2026 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;398222 |
| Ares Capital Corp.<br> 5.875%, 03/01/2029 | &nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;535320 |
| Arthur J. Gallagher & Company<br> 5.450%, 07/15/2034 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;408929 |
| Athene Global Funding<br> 5.526%, 07/11/2031 (C) | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;255381 |
| Athene Holding, Ltd.<br> 4.125%, 01/12/2028 | &nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;222910 |
| Banco Santander SA<br> 1.722%, (1.722% to 9-14-26, then 1 Year CMT + 0.900%), 09/14/2027 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;676184 |
| Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.419%, (3.419% to 12-20-27, then 3 month CME Term SOFR + 1.302%), 12/20/2028 | 1437000 | &nbsp;&nbsp;&nbsp;1404644 |
| &nbsp;&nbsp;&nbsp;3.970%, (3.970% to 3-5-28, then 3 month CME Term SOFR + 1.332%), 03/05/2029 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;494468 |
| &nbsp;&nbsp;&nbsp;3.974%, (3.974% to 2-7-29, then 3 month CME Term SOFR + 1.472%), 02/07/2030 | 2105000 | &nbsp;&nbsp;&nbsp;2071970 |
| &nbsp;&nbsp;&nbsp;4.443%, (4.443% to 1-20-47, then 3 month CME Term SOFR + 2.252%), 01/20/2048 | &nbsp;&nbsp;520000 | &nbsp;&nbsp;&nbsp;&nbsp;444514 |
| &nbsp;&nbsp;&nbsp;5.468%, (5.468% to 1-23-34, then Overnight SOFR + 1.650%), 01/23/2035 | &nbsp;&nbsp;615000 | &nbsp;&nbsp;&nbsp;&nbsp;631813 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 100 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Total Bond Market Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| Bank of America Corp. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;5.511%, (5.511% to 1-24-35, then Overnight SOFR + 1.310%), 01/24/2036 | $680000 | $699186 |
| &nbsp;&nbsp;&nbsp;7.750%, 05/14/2038 | 480000 | 572981 |
| Barclays PLC |  |  |
| &nbsp;&nbsp;&nbsp;4.950%, 01/10/2047 | 320000 | 290587 |
| &nbsp;&nbsp;&nbsp;5.367%, (5.367% to 2-25-30, then Overnight SOFR + 1.230%), 02/25/2031 | 250000 | 255372 |
| &nbsp;&nbsp;&nbsp;5.674%, (5.674% to 3-12-27, then Overnight SOFR + 1.490%), 03/12/2028 | 500000 | 509483 |
| &nbsp;&nbsp;&nbsp;7.437%, (7.437% to 11-2-32, then 1 Year CMT + 3.500%), 11/02/2033 | 750000 | 851212 |
| Berkshire Hathaway Finance Corp.<br> 4.400%, 05/15/2042 | 630000 | 582703 |
| Blackstone Private Credit Fund<br> 5.950%, 07/16/2029 | 315000 | 320960 |
| Capital One Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.268%, (5.268% to 5-10-32, then Overnight SOFR + 2.370%), 05/10/2033 | 505000 | 509408 |
| &nbsp;&nbsp;&nbsp;5.700%, (5.700% to 2-1-29, then Overnight SOFR + 1.905%), 02/01/2030 | 650000 | 672376 |
| Capital One NA<br> 4.650%, 09/13/2028 | 500000 | 502643 |
| Chubb INA Holdings LLC<br> 3.350%, 05/03/2026 | 300000 | 297693 |
| Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.462%, (1.462% to 6-9-26, then Overnight SOFR + 0.770%), 06/09/2027 | 685000 | 665577 |
| &nbsp;&nbsp;&nbsp;2.561%, (2.561% to 5-1-31, then Overnight SOFR + 1.167%), 05/01/2032 | 745000 | 660010 |
| &nbsp;&nbsp;&nbsp;2.666%, (2.666% to 1-29-30, then Overnight SOFR + 1.146%), 01/29/2031 | 700000 | 641818 |
| &nbsp;&nbsp;&nbsp;4.281%, (4.281% to 4-24-47, then 3 month CME Term SOFR + 2.101%), 04/24/2048 | 420000 | 346228 |
| &nbsp;&nbsp;&nbsp;4.450%, 09/29/2027 | 500000 | 500480 |
| &nbsp;&nbsp;&nbsp;4.658%, (4.658% to 5-24-27, then Overnight SOFR + 1.887%), 05/24/2028 | 700000 | 702575 |
| &nbsp;&nbsp;&nbsp;5.449%, (5.449% to 6-11-34, then Overnight SOFR + 1.447%), 06/11/2035 | 865000 | 883537 |
| Citizens Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.253%, (5.253% to 3-5-30, then Overnight SOFR + 1.259%), 03/05/2031 | 200000 | 202679 |
| &nbsp;&nbsp;&nbsp;5.718%, (5.718% to 7-23-31, then Overnight SOFR + 1.910%), 07/23/2032 | 215000 | 222425 |
| CNA Financial Corp.<br> 3.900%, 05/01/2029 | 320000 | 313714 |
| CNO Financial Group, Inc.<br> 5.250%, 05/30/2029 | 210000 | 211840 |
| Corebridge Financial, Inc.<br> 3.900%, 04/05/2032 | 265000 | 248732 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| Deutsche Bank AG |  |  |
| &nbsp;&nbsp;&nbsp;2.129%, (2.129% to 11-24-25, then Overnight SOFR + 1.870%), 11/24/2026 | $&nbsp;&nbsp;375000 | $&nbsp;&nbsp;&nbsp;&nbsp;371207 |
| &nbsp;&nbsp;&nbsp;3.742%, (3.742% to 1-7-32, then Overnight SOFR + 2.257%), 01/07/2033 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;270023 |
| &nbsp;&nbsp;&nbsp;5.297%, (5.297% to 5-9-30, then Overnight SOFR + 1.720%), 05/09/2031 | &nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;152343 |
| &nbsp;&nbsp;&nbsp;5.706%, (5.706% to 2-8-27, then Overnight SOFR + 1.594%), 02/08/2028 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;254107 |
| European Investment Bank |  |  |
| &nbsp;&nbsp;&nbsp;4.375%, 03/19/2027 | 1500000 | 1513702 |
| &nbsp;&nbsp;&nbsp;4.875%, 02/15/2036 | 1000000 | 1046756 |
| Fifth Third Bancorp<br> 6.339%, (6.339% to 7-27-28, then Overnight SOFR + 2.340%), 07/27/2029 | &nbsp;&nbsp;315000 | &nbsp;&nbsp;&nbsp;&nbsp;331790 |
| Fifth Third Bank NA<br> 2.250%, 02/01/2027 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;290794 |
| Fiserv, Inc.<br> 2.250%, 06/01/2027 | &nbsp;&nbsp;630000 | &nbsp;&nbsp;&nbsp;&nbsp;606605 |
| Five Corners Funding Trust II<br> 2.850%, 05/15/2030 (C) | &nbsp;&nbsp;630000 | &nbsp;&nbsp;&nbsp;&nbsp;584821 |
| GE Capital International Funding Company<br> 4.418%, 11/15/2035 | &nbsp;&nbsp;647000 | &nbsp;&nbsp;&nbsp;&nbsp;620909 |
| Global Payments, Inc.<br> 4.450%, 06/01/2028 | &nbsp;&nbsp;425000 | &nbsp;&nbsp;&nbsp;&nbsp;423625 |
| Hartford Insurance Group, Inc.<br> 5.950%, 10/15/2036 | &nbsp;&nbsp;170000 | &nbsp;&nbsp;&nbsp;&nbsp;177454 |
| HSBC Holdings PLC |  |  |
| &nbsp;&nbsp;&nbsp;2.848%, (2.848% to 6-4-30, then Overnight SOFR + 2.387%), 06/04/2031 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;913860 |
| &nbsp;&nbsp;&nbsp;4.583%, (4.583% to 6-19-28, then 3 month CME Term SOFR + 1.796%), 06/19/2029 | 1050000 | 1051517 |
| &nbsp;&nbsp;&nbsp;5.240%, (5.240% to 5-13-30, then Overnight SOFR + 1.570%), 05/13/2031 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;254547 |
| &nbsp;&nbsp;&nbsp;6.500%, 09/15/2037 | &nbsp;&nbsp;695000 | &nbsp;&nbsp;&nbsp;&nbsp;743388 |
| Huntington Bancshares, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.272%, (5.272% to 1-15-30, then Overnight SOFR + 1.276%), 01/15/2031 | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;204919 |
| &nbsp;&nbsp;&nbsp;6.141%, (6.141% to 11-18-34, then 5 Year CMT + 1.700%), 11/18/2039 | &nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;229365 |
| ING Groep NV<br> 4.252%, (4.252% to 3-28-32, then Overnight SOFR + 2.070%), 03/28/2033 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;288750 |
| Inter-American Development Bank |  |  |
| &nbsp;&nbsp;&nbsp;1.125%, 07/20/2028 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;462180 |
| &nbsp;&nbsp;&nbsp;1.125%, 01/13/2031 | 2000000 | 1724148 |
| &nbsp;&nbsp;&nbsp;2.000%, 07/23/2026 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;979338 |
| &nbsp;&nbsp;&nbsp;4.500%, 02/15/2030 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;513935 |
| Intercontinental Exchange, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.100%, 09/15/2027 | &nbsp;&nbsp;440000 | &nbsp;&nbsp;&nbsp;&nbsp;429528 |
| &nbsp;&nbsp;&nbsp;4.600%, 03/15/2033 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;497808 |
| International Bank for Reconstruction &<br> Development |  |  |
| &nbsp;&nbsp;&nbsp;0.750%, 11/24/2027 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;931640 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 101 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Total Bond Market Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| International Bank for Reconstruction &<br> Development (continued) |  |  |
| &nbsp;&nbsp;&nbsp;0.875%, 07/15/2026 | $1000000 | $&nbsp;&nbsp;&nbsp;&nbsp;968713 |
| JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;2.522%, (2.522% to 4-22-30, then Overnight SOFR + 2.040%), 04/22/2031 | &nbsp;&nbsp;391000 | &nbsp;&nbsp;&nbsp;&nbsp;357489 |
| &nbsp;&nbsp;&nbsp;3.109%, (3.109% to 4-22-50, then Overnight SOFR + 2.440%), 04/22/2051 | 1940000 | 1305411 |
| &nbsp;&nbsp;&nbsp;3.509%, (3.509% to 1-23-28, then 3 month CME Term SOFR + 1.207%), 01/23/2029 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;489771 |
| &nbsp;&nbsp;&nbsp;3.540%, (3.540% to 5-1-27, then 3 month CME Term SOFR + 1.642%), 05/01/2028 | &nbsp;&nbsp;810000 | &nbsp;&nbsp;&nbsp;&nbsp;798010 |
| &nbsp;&nbsp;&nbsp;4.452%, (4.452% to 12-5-28, then 3 month CME Term SOFR + 1.592%), 12/05/2029 | &nbsp;&nbsp;900000 | &nbsp;&nbsp;&nbsp;&nbsp;901689 |
| &nbsp;&nbsp;&nbsp;4.603%, (4.603% to 10-22-29, then Overnight SOFR + 1.040%), 10/22/2030 | &nbsp;&nbsp;805000 | &nbsp;&nbsp;&nbsp;&nbsp;807750 |
| &nbsp;&nbsp;&nbsp;4.851%, (4.851% to 7-25-27, then Overnight SOFR + 1.990%), 07/25/2028 | 1000000 | 1010425 |
| &nbsp;&nbsp;&nbsp;5.294%, (5.294% to 7-22-34, then Overnight SOFR + 1.460%), 07/22/2035 | &nbsp;&nbsp;735000 | &nbsp;&nbsp;&nbsp;&nbsp;747952 |
| &nbsp;&nbsp;&nbsp;6.400%, 05/15/2038 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;277735 |
| KeyBank NA |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, 01/26/2033 | &nbsp;&nbsp;325000 | &nbsp;&nbsp;&nbsp;&nbsp;320708 |
| &nbsp;&nbsp;&nbsp;5.850%, 11/15/2027 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;258108 |
| Lincoln National Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, 12/12/2026 | &nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;518806 |
| &nbsp;&nbsp;&nbsp;7.000%, 06/15/2040 | &nbsp;&nbsp;160000 | &nbsp;&nbsp;&nbsp;&nbsp;176737 |
| M&T Bank Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.553%, (4.553% to 8-16-27, then SOFR Compounded Index + 1.780%), 08/16/2028 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;100245 |
| &nbsp;&nbsp;&nbsp;5.053%, (5.053% to 1-27-33, then Overnight SOFR + 1.850%), 01/27/2034 | &nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;123234 |
| &nbsp;&nbsp;&nbsp;5.179%, (5.179% to 7-8-30, then Overnight SOFR + 1.400%), 07/08/2031 | &nbsp;&nbsp;124000 | &nbsp;&nbsp;&nbsp;&nbsp;126054 |
| Marsh & McLennan Companies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.375%, 12/15/2031 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;218891 |
| &nbsp;&nbsp;&nbsp;4.900%, 03/15/2049 | &nbsp;&nbsp;265000 | &nbsp;&nbsp;&nbsp;&nbsp;239379 |
| Mastercard, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, 11/18/2031 | &nbsp;&nbsp;385000 | &nbsp;&nbsp;&nbsp;&nbsp;335583 |
| &nbsp;&nbsp;&nbsp;2.950%, 11/21/2026 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;295728 |
| MetLife, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.600%, 05/13/2046 | &nbsp;&nbsp;520000 | &nbsp;&nbsp;&nbsp;&nbsp;460409 |
| &nbsp;&nbsp;&nbsp;5.300%, 12/15/2034 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;308183 |
| Mitsubishi UFJ Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.538%, (1.538% to 7-20-26, then 1 Year CMT + 0.750%), 07/20/2027 | 1360000 | 1319537 |
| &nbsp;&nbsp;&nbsp;5.441%, (5.441% to 2-22-33, then 1 Year CMT + 1.630%), 02/22/2034 | &nbsp;&nbsp;215000 | &nbsp;&nbsp;&nbsp;&nbsp;221317 |
| Mizuho Financial Group, Inc.<br> 1.234%, (1.234% to 5-22-26, then 1 Year CMT + 0.670%), 05/22/2027 | &nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;777460 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;1.512%, (1.512% to 7-20-26, then Overnight SOFR + 0.858%), 07/20/2027 | $&nbsp;&nbsp;525000 | $&nbsp;&nbsp;&nbsp;&nbsp;509281 |
| &nbsp;&nbsp;&nbsp;3.622%, (3.622% to 4-1-30, then Overnight SOFR + 3.120%), 04/01/2031 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;958957 |
| &nbsp;&nbsp;&nbsp;3.772%, (3.772% to 1-24-28, then 3 month CME Term SOFR + 1.402%), 01/24/2029 | &nbsp;&nbsp;635000 | &nbsp;&nbsp;&nbsp;&nbsp;625934 |
| &nbsp;&nbsp;&nbsp;4.375%, 01/22/2047 | 1095000 | &nbsp;&nbsp;&nbsp;&nbsp;932253 |
| &nbsp;&nbsp;&nbsp;5.164%, (5.164% to 4-20-28, then Overnight SOFR + 1.590%), 04/20/2029 | 1000000 | 1019600 |
| &nbsp;&nbsp;&nbsp;5.320%, (5.320% to 7-19-34, then Overnight SOFR + 1.555%), 07/19/2035 | &nbsp;&nbsp;485000 | &nbsp;&nbsp;&nbsp;&nbsp;490921 |
| &nbsp;&nbsp;&nbsp;6.296%, (6.296% to 10-18-27, then Overnight SOFR + 2.240%), 10/18/2028 | 1050000 | 1093760 |
| Nasdaq, Inc.<br> 1.650%, 01/15/2031 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;431104 |
| National Rural Utilities Cooperative Finance Corp.<br> 4.023%, 11/01/2032 | &nbsp;&nbsp;740000 | &nbsp;&nbsp;&nbsp;&nbsp;704530 |
| NatWest Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;4.964%, (4.964% to 8-15-29, then 1 Year CMT + 1.220%), 08/15/2030 | &nbsp;&nbsp;315000 | &nbsp;&nbsp;&nbsp;&nbsp;318616 |
| &nbsp;&nbsp;&nbsp;5.115%, (5.115% to 5-23-30, then 1 Year CMT + 1.050%), 05/23/2031 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;304909 |
| &nbsp;&nbsp;&nbsp;5.583%, (5.583% to 3-1-27, then 1 Year CMT + 1.100%), 03/01/2028 | &nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;229044 |
| &nbsp;&nbsp;&nbsp;5.778%, (5.778% to 3-1-34, then 1 Year CMT + 1.500%), 03/01/2035 | &nbsp;&nbsp;210000 | &nbsp;&nbsp;&nbsp;&nbsp;218074 |
| Nomura Holdings, Inc.<br> 3.103%, 01/16/2030 | 1050000 | &nbsp;&nbsp;&nbsp;&nbsp;980844 |
| PayPal Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.300%, 06/01/2030 | &nbsp;&nbsp;455000 | &nbsp;&nbsp;&nbsp;&nbsp;413915 |
| &nbsp;&nbsp;&nbsp;2.850%, 10/01/2029 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;471867 |
| Prudential Financial, Inc.<br> 4.350%, 02/25/2050 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;248991 |
| Raymond James Financial, Inc.<br> 4.950%, 07/15/2046 | &nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;471742 |
| Royal Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;2.300%, 11/03/2031 | &nbsp;&nbsp;850000 | &nbsp;&nbsp;&nbsp;&nbsp;746634 |
| &nbsp;&nbsp;&nbsp;4.900%, 01/12/2028 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;305470 |
| S&P Global, Inc.<br> 2.900%, 03/01/2032 | &nbsp;&nbsp;640000 | &nbsp;&nbsp;&nbsp;&nbsp;581832 |
| Santander Holdings USA, Inc.<br> 4.400%, 07/13/2027 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;249583 |
| State Street Corp.<br> 5.159%, (5.159% to 5-18-33, then Overnight SOFR + 1.890%), 05/18/2034 | &nbsp;&nbsp;740000 | &nbsp;&nbsp;&nbsp;&nbsp;755928 |
| Sumitomo Mitsui Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.364%, 07/12/2027 | &nbsp;&nbsp;960000 | &nbsp;&nbsp;&nbsp;&nbsp;945140 |
| &nbsp;&nbsp;&nbsp;3.784%, 03/09/2026 | &nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;548105 |
| The Allstate Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.200%, 12/15/2046 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;244779 |
| &nbsp;&nbsp;&nbsp;5.250%, 03/30/2033 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;256307 |
| The Bank of New York Mellon Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.250%, 05/16/2027 | &nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;788882 |
| &nbsp;&nbsp;&nbsp;4.596%, (4.596% to 7-26-29, then SOFR + 1.755%), 07/26/2030 | &nbsp;&nbsp;240000 | &nbsp;&nbsp;&nbsp;&nbsp;242633 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 102 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Total Bond Market Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| The Bank of Nova Scotia<br> 4.850%, 02/01/2030 | $&nbsp;&nbsp;715000 | $&nbsp;&nbsp;&nbsp;&nbsp;728582 |
| The Charles Schwab Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.200%, 01/25/2028 | &nbsp;&nbsp;330000 | &nbsp;&nbsp;&nbsp;&nbsp;323049 |
| &nbsp;&nbsp;&nbsp;5.853%, (5.853% to 5-19-33, then Overnight SOFR + 2.500%), 05/19/2034 | &nbsp;&nbsp;320000 | &nbsp;&nbsp;&nbsp;&nbsp;339940 |
| The Goldman Sachs Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.600%, 02/07/2030 | &nbsp;&nbsp;720000 | &nbsp;&nbsp;&nbsp;&nbsp;665406 |
| &nbsp;&nbsp;&nbsp;2.650%, (2.650% to 10-21-31, then Overnight SOFR + 1.264%), 10/21/2032 | &nbsp;&nbsp;405000 | &nbsp;&nbsp;&nbsp;&nbsp;357878 |
| &nbsp;&nbsp;&nbsp;3.102%, (3.102% to 2-24-32, then Overnight SOFR + 1.410%), 02/24/2033 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;900047 |
| &nbsp;&nbsp;&nbsp;3.210%, (3.210% to 4-22-41, then Overnight SOFR + 1.513%), 04/22/2042 | 1035000 | &nbsp;&nbsp;&nbsp;&nbsp;774076 |
| &nbsp;&nbsp;&nbsp;4.482%, (4.482% to 8-23-27, then Overnight SOFR + 1.725%), 08/23/2028 | 1000000 | 1001328 |
| &nbsp;&nbsp;&nbsp;5.727%, (5.727% to 4-25-29, then Overnight SOFR + 1.265%), 04/25/2030 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;624573 |
| The PNC Financial Services Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.450%, 04/23/2029 | 1060000 | 1030644 |
| &nbsp;&nbsp;&nbsp;4.758%, (4.758% to 1-26-26, then SOFR Compounded Index + 1.085%), 01/26/2027 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;300439 |
| &nbsp;&nbsp;&nbsp;4.899%, (4.899% to 5-13-30, then Overnight SOFR + 1.333%), 05/13/2031 | &nbsp;&nbsp;320000 | &nbsp;&nbsp;&nbsp;&nbsp;324064 |
| The Toronto-Dominion Bank<br> 2.000%, 09/10/2031 | &nbsp;&nbsp;830000 | &nbsp;&nbsp;&nbsp;&nbsp;724793 |
| The Travelers Companies, Inc.<br> 4.050%, 03/07/2048 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;239808 |
| Travelers Property Casualty Corp.<br> 7.750%, 04/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;51298 |
| Truist Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;1.125%, 08/03/2027 | &nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;493501 |
| &nbsp;&nbsp;&nbsp;5.435%, (5.435% to 1-24-29, then Overnight SOFR + 1.620%), 01/24/2030 | &nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;540736 |
| U.S. Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;5.384%, (5.384% to 1-23-29, then Overnight SOFR + 1.560%), 01/23/2030 | &nbsp;&nbsp;630000 | &nbsp;&nbsp;&nbsp;&nbsp;648659 |
| &nbsp;&nbsp;&nbsp;5.836%, (5.836% to 6-10-33, then Overnight SOFR + 2.260%), 06/12/2034 | &nbsp;&nbsp;630000 | &nbsp;&nbsp;&nbsp;&nbsp;661761 |
| UBS AG<br> 5.000%, 07/09/2027 | &nbsp;&nbsp;270000 | &nbsp;&nbsp;&nbsp;&nbsp;274170 |
| Visa, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.050%, 04/15/2030 | &nbsp;&nbsp;635000 | &nbsp;&nbsp;&nbsp;&nbsp;578034 |
| &nbsp;&nbsp;&nbsp;4.300%, 12/14/2045 | &nbsp;&nbsp;488000 | &nbsp;&nbsp;&nbsp;&nbsp;424206 |
| Wells Fargo & Company |  |  |
| &nbsp;&nbsp;&nbsp;2.572%, (2.572% to 2-11-30, then 3 month CME Term SOFR + 1.262%), 02/11/2031 | 2035000 | 1864297 |
| &nbsp;&nbsp;&nbsp;3.000%, 10/23/2026 | &nbsp;&nbsp;795000 | &nbsp;&nbsp;&nbsp;&nbsp;781374 |
| &nbsp;&nbsp;&nbsp;3.068%, (3.068% to 4-30-40, then Overnight SOFR + 2.530%), 04/30/2041 | 1150000 | &nbsp;&nbsp;&nbsp;&nbsp;869020 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| Wells Fargo & Company (continued) |  |  |
| &nbsp;&nbsp;&nbsp;3.350%, (3.350% to 3-2-32, then Overnight SOFR + 1.500%), 03/02/2033 | $1035000 | $&nbsp;&nbsp;&nbsp;&nbsp;945214 |
| Westpac Banking Corp.<br> 1.150%, 06/03/2026 | &nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;777636 |
|  |  | 84735081 |
| **Health care – 2.7%** |  |  |
| Abbott Laboratories |  |  |
| &nbsp;&nbsp;&nbsp;3.750%, 11/30/2026 | &nbsp;&nbsp;283000 | &nbsp;&nbsp;&nbsp;&nbsp;282068 |
| &nbsp;&nbsp;&nbsp;4.750%, 11/30/2036 | &nbsp;&nbsp;330000 | &nbsp;&nbsp;&nbsp;&nbsp;328442 |
| AbbVie, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.200%, 11/21/2029 | 1030000 | &nbsp;&nbsp;&nbsp;&nbsp;985197 |
| &nbsp;&nbsp;&nbsp;4.400%, 11/06/2042 | &nbsp;&nbsp;690000 | &nbsp;&nbsp;&nbsp;&nbsp;606689 |
| &nbsp;&nbsp;&nbsp;4.950%, 03/15/2031 | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;205327 |
| &nbsp;&nbsp;&nbsp;5.050%, 03/15/2034 | &nbsp;&nbsp;275000 | &nbsp;&nbsp;&nbsp;&nbsp;279995 |
| Amgen, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.400%, 05/01/2045 | &nbsp;&nbsp;260000 | &nbsp;&nbsp;&nbsp;&nbsp;221184 |
| &nbsp;&nbsp;&nbsp;4.663%, 06/15/2051 | &nbsp;&nbsp;494000 | &nbsp;&nbsp;&nbsp;&nbsp;422936 |
| &nbsp;&nbsp;&nbsp;5.250%, 03/02/2030 | &nbsp;&nbsp;370000 | &nbsp;&nbsp;&nbsp;&nbsp;381241 |
| &nbsp;&nbsp;&nbsp;5.250%, 03/02/2033 | &nbsp;&nbsp;840000 | &nbsp;&nbsp;&nbsp;&nbsp;860179 |
| Astrazeneca Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.900%, 03/03/2030 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;256462 |
| &nbsp;&nbsp;&nbsp;5.000%, 02/26/2034 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;254860 |
| Baxter International, Inc.<br> 3.950%, 04/01/2030 | &nbsp;&nbsp;530000 | &nbsp;&nbsp;&nbsp;&nbsp;517592 |
| Becton, Dickinson and Company |  |  |
| &nbsp;&nbsp;&nbsp;3.700%, 06/06/2027 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98796 |
| &nbsp;&nbsp;&nbsp;4.685%, 12/15/2044 | &nbsp;&nbsp;420000 | &nbsp;&nbsp;&nbsp;&nbsp;365504 |
| Biogen, Inc.<br> 3.250%, 02/15/2051 | &nbsp;&nbsp;591000 | &nbsp;&nbsp;&nbsp;&nbsp;377231 |
| Boston Scientific Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.650%, 06/01/2030 | &nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;486030 |
| &nbsp;&nbsp;&nbsp;4.000%, 03/01/2028 | &nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50142 |
| Bristol-Myers Squibb Company |  |  |
| &nbsp;&nbsp;&nbsp;3.250%, 08/01/2042 | &nbsp;&nbsp;545000 | &nbsp;&nbsp;&nbsp;&nbsp;407799 |
| &nbsp;&nbsp;&nbsp;4.550%, 02/20/2048 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;257941 |
| &nbsp;&nbsp;&nbsp;5.200%, 02/22/2034 | &nbsp;&nbsp;420000 | &nbsp;&nbsp;&nbsp;&nbsp;430139 |
| Cardinal Health, Inc.<br> 5.125%, 02/15/2029 | &nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;538364 |
| Centene Corp.<br> 4.250%, 12/15/2027 | &nbsp;&nbsp;535000 | &nbsp;&nbsp;&nbsp;&nbsp;526893 |
| CVS Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.300%, 03/25/2028 | &nbsp;&nbsp;719000 | &nbsp;&nbsp;&nbsp;&nbsp;716050 |
| &nbsp;&nbsp;&nbsp;5.050%, 03/25/2048 | &nbsp;&nbsp;520000 | &nbsp;&nbsp;&nbsp;&nbsp;448993 |
| DH Europe Finance II Sarl<br> 3.250%, 11/15/2039 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;241329 |
| Dignity Health<br> 4.500%, 11/01/2042 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;249875 |
| Elevance Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.101%, 03/01/2028 | &nbsp;&nbsp;370000 | &nbsp;&nbsp;&nbsp;&nbsp;368981 |
| &nbsp;&nbsp;&nbsp;4.650%, 08/15/2044 | &nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;130353 |
| &nbsp;&nbsp;&nbsp;6.100%, 10/15/2052 | &nbsp;&nbsp;353000 | &nbsp;&nbsp;&nbsp;&nbsp;359731 |
| Eli Lilly & Company |  |  |
| &nbsp;&nbsp;&nbsp;2.250%, 05/15/2050 | &nbsp;&nbsp;530000 | &nbsp;&nbsp;&nbsp;&nbsp;302499 |
| &nbsp;&nbsp;&nbsp;4.750%, 02/12/2030 | &nbsp;&nbsp;275000 | &nbsp;&nbsp;&nbsp;&nbsp;281951 |
| &nbsp;&nbsp;&nbsp;5.100%, 02/12/2035 | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;204993 |
| &nbsp;&nbsp;&nbsp;5.500%, 02/12/2055 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;251558 |
| Evernorth Health, Inc.<br> 6.125%, 11/15/2041 | &nbsp;&nbsp;330000 | &nbsp;&nbsp;&nbsp;&nbsp;308027 |
| GE HealthCare Technologies, Inc.<br> 5.857%, 03/15/2030 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;264033 |
| Gilead Sciences, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 02/01/2045 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;217814 |
| &nbsp;&nbsp;&nbsp;5.100%, 06/15/2035 | &nbsp;&nbsp;375000 | &nbsp;&nbsp;&nbsp;&nbsp;379802 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 103 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Total Bond Market Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Health care (continued)** |  |  |
| GlaxoSmithKline Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 05/15/2028 | $&nbsp;&nbsp;225000 | $&nbsp;&nbsp;&nbsp;&nbsp;223977 |
| &nbsp;&nbsp;&nbsp;6.375%, 05/15/2038 | &nbsp;&nbsp;230000 | &nbsp;&nbsp;&nbsp;&nbsp;255443 |
| HCA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, 09/01/2030 | &nbsp;&nbsp;275000 | &nbsp;&nbsp;&nbsp;&nbsp;260049 |
| &nbsp;&nbsp;&nbsp;4.500%, 02/15/2027 | &nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;225032 |
| &nbsp;&nbsp;&nbsp;5.500%, 06/15/2047 | &nbsp;&nbsp;420000 | &nbsp;&nbsp;&nbsp;&nbsp;390289 |
| &nbsp;&nbsp;&nbsp;5.600%, 04/01/2034 | &nbsp;&nbsp;530000 | &nbsp;&nbsp;&nbsp;&nbsp;542268 |
| Humana, Inc.<br> 3.950%, 03/15/2027 | &nbsp;&nbsp;370000 | &nbsp;&nbsp;&nbsp;&nbsp;368623 |
| Johnson & Johnson |  |  |
| &nbsp;&nbsp;&nbsp;2.100%, 09/01/2040 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;343518 |
| &nbsp;&nbsp;&nbsp;5.850%, 07/15/2038 | &nbsp;&nbsp;315000 | &nbsp;&nbsp;&nbsp;&nbsp;343513 |
| Laboratory Corp. of America Holdings<br> 2.950%, 12/01/2029 | &nbsp;&nbsp;530000 | &nbsp;&nbsp;&nbsp;&nbsp;498855 |
| McKesson Corp.<br> 4.950%, 05/30/2032 | &nbsp;&nbsp;220000 | &nbsp;&nbsp;&nbsp;&nbsp;222950 |
| Medtronic, Inc.<br> 4.375%, 03/15/2035 | &nbsp;&nbsp;530000 | &nbsp;&nbsp;&nbsp;&nbsp;512703 |
| Merck & Company, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.150%, 12/10/2031 | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;305489 |
| &nbsp;&nbsp;&nbsp;5.000%, 05/17/2053 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;229829 |
| Merck Sharp & Dohme Corp.<br> 6.400%, 03/01/2028 | &nbsp;&nbsp;540000 | &nbsp;&nbsp;&nbsp;&nbsp;570929 |
| Pfizer Investment Enterprises Pte, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;4.650%, 05/19/2030 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;405532 |
| &nbsp;&nbsp;&nbsp;4.750%, 05/19/2033 | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;348948 |
| &nbsp;&nbsp;&nbsp;5.300%, 05/19/2053 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;944009 |
| Pfizer, Inc.<br> 4.400%, 05/15/2044 | &nbsp;&nbsp;304000 | &nbsp;&nbsp;&nbsp;&nbsp;266153 |
| Quest Diagnostics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.200%, 06/30/2029 | &nbsp;&nbsp;320000 | &nbsp;&nbsp;&nbsp;&nbsp;318622 |
| &nbsp;&nbsp;&nbsp;4.700%, 03/30/2045 | &nbsp;&nbsp;320000 | &nbsp;&nbsp;&nbsp;&nbsp;278420 |
| Regeneron Pharmaceuticals, Inc.<br> 2.800%, 09/15/2050 | 1050000 | &nbsp;&nbsp;&nbsp;&nbsp;626830 |
| Solventum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.400%, 03/01/2029 | &nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51488 |
| &nbsp;&nbsp;&nbsp;5.450%, 03/13/2031 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;311505 |
| Stryker Corp.<br> 4.625%, 03/15/2046 | &nbsp;&nbsp;370000 | &nbsp;&nbsp;&nbsp;&nbsp;327323 |
| Takeda Pharmaceutical Company, Ltd.<br> 5.300%, 07/05/2034 | &nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;533129 |
| Takeda US Financing, Inc.<br> 5.900%, 07/07/2055 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;301518 |
| The Cigna Group<br> 4.375%, 10/15/2028 | &nbsp;&nbsp;530000 | &nbsp;&nbsp;&nbsp;&nbsp;530637 |
| Thermo Fisher Scientific, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, 10/15/2031 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;348796 |
| &nbsp;&nbsp;&nbsp;5.404%, 08/10/2043 | &nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;222343 |
| UnitedHealth Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.300%, 05/15/2031 | &nbsp;&nbsp;530000 | &nbsp;&nbsp;&nbsp;&nbsp;467089 |
| &nbsp;&nbsp;&nbsp;2.900%, 05/15/2050 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;248900 |
| &nbsp;&nbsp;&nbsp;4.375%, 03/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51445 |
| &nbsp;&nbsp;&nbsp;4.450%, 12/15/2048 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;248380 |
| &nbsp;&nbsp;&nbsp;5.350%, 02/15/2033 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;721233 |
| &nbsp;&nbsp;&nbsp;5.800%, 03/15/2036 | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;367920 |
| &nbsp;&nbsp;&nbsp;5.950%, 06/15/2055 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;253893 |
| Utah Acquisition Sub, Inc.<br> 3.950%, 06/15/2026 | &nbsp;&nbsp;302000 | &nbsp;&nbsp;&nbsp;&nbsp;299147 |
| Zimmer Biomet Holdings, Inc.<br> 5.050%, 02/19/2030 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;409918 |
| Zoetis, Inc.<br> 2.000%, 05/15/2030 | &nbsp;&nbsp;330000 | &nbsp;&nbsp;&nbsp;&nbsp;296574 |
|  |  | 28340219 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Industrials – 2.1%** |  |  |
| AerCap Ireland Capital DAC |  |  |
| &nbsp;&nbsp;&nbsp;3.300%, 01/30/2032 | $&nbsp;&nbsp;550000 | $&nbsp;&nbsp;&nbsp;&nbsp;498294 |
| &nbsp;&nbsp;&nbsp;3.850%, 10/29/2041 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;199899 |
| &nbsp;&nbsp;&nbsp;4.625%, 09/10/2029 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;250055 |
| &nbsp;&nbsp;&nbsp;5.750%, 06/06/2028 | 1000000 | 1034549 |
| Air Lease Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.125%, 12/01/2030 | &nbsp;&nbsp;645000 | &nbsp;&nbsp;&nbsp;&nbsp;596033 |
| &nbsp;&nbsp;&nbsp;3.625%, 12/01/2027 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;394026 |
| American Airlines 2016-2 Class AA Pass Through Trust<br> 3.200%, 06/15/2028 | &nbsp;&nbsp;200310 | &nbsp;&nbsp;&nbsp;&nbsp;191992 |
| Automatic Data Processing, Inc.<br> 4.450%, 09/09/2034 | &nbsp;&nbsp;545000 | &nbsp;&nbsp;&nbsp;&nbsp;534455 |
| Burlington Northern Santa Fe LLC<br> 4.400%, 03/15/2042 | &nbsp;&nbsp;370000 | &nbsp;&nbsp;&nbsp;&nbsp;327207 |
| Canadian Pacific Railway Company<br> 2.875%, 11/15/2029 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;469719 |
| Carrier Global Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.493%, 02/15/2027 | &nbsp;&nbsp;215000 | &nbsp;&nbsp;&nbsp;&nbsp;209238 |
| &nbsp;&nbsp;&nbsp;3.577%, 04/05/2050 | &nbsp;&nbsp;170000 | &nbsp;&nbsp;&nbsp;&nbsp;124747 |
| Caterpillar, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.600%, 04/09/2030 | &nbsp;&nbsp;560000 | &nbsp;&nbsp;&nbsp;&nbsp;520636 |
| &nbsp;&nbsp;&nbsp;3.250%, 04/09/2050 | &nbsp;&nbsp;425000 | &nbsp;&nbsp;&nbsp;&nbsp;296403 |
| CNH Industrial Capital LLC<br> 4.550%, 04/10/2028 | &nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;527393 |
| CSX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.800%, 04/15/2050 | 1035000 | &nbsp;&nbsp;&nbsp;&nbsp;783517 |
| &nbsp;&nbsp;&nbsp;4.250%, 03/15/2029 | &nbsp;&nbsp;430000 | &nbsp;&nbsp;&nbsp;&nbsp;430033 |
| Deere & Company<br> 3.100%, 04/15/2030 | &nbsp;&nbsp;540000 | &nbsp;&nbsp;&nbsp;&nbsp;513627 |
| Eaton Capital ULC<br> 4.450%, 05/09/2030 | &nbsp;&nbsp;340000 | &nbsp;&nbsp;&nbsp;&nbsp;341593 |
| Equifax, Inc.<br> 3.100%, 05/15/2030 | &nbsp;&nbsp;855000 | &nbsp;&nbsp;&nbsp;&nbsp;799826 |
| General Dynamics Corp.<br> 3.625%, 04/01/2030 | &nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;511511 |
| General Electric Company |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 03/11/2044 | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;176231 |
| &nbsp;&nbsp;&nbsp;6.750%, 03/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;66000 | &nbsp;&nbsp;&nbsp;&nbsp;74686 |
| &nbsp;&nbsp;&nbsp;6.875%, 01/10/2039 | &nbsp;&nbsp;198000 | &nbsp;&nbsp;&nbsp;&nbsp;231677 |
| Honeywell International, Inc.<br> 1.950%, 06/01/2030 | &nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;470010 |
| Ingersoll Rand, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.400%, 08/14/2028 | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;206153 |
| &nbsp;&nbsp;&nbsp;5.700%, 08/14/2033 | &nbsp;&nbsp;220000 | &nbsp;&nbsp;&nbsp;&nbsp;230384 |
| John Deere Capital Corp.<br> 4.500%, 01/08/2027 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;301885 |
| Johnson Controls, Inc.<br> 5.700%, 03/01/2041 | &nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;153656 |
| L3Harris Technologies, Inc.<br> 2.900%, 12/15/2029 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;281633 |
| Lockheed Martin Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.800%, 03/01/2045 | &nbsp;&nbsp;425000 | &nbsp;&nbsp;&nbsp;&nbsp;334870 |
| &nbsp;&nbsp;&nbsp;5.250%, 01/15/2033 | &nbsp;&nbsp;505000 | &nbsp;&nbsp;&nbsp;&nbsp;524209 |
| Norfolk Southern Corp.<br> 4.837%, 10/01/2041 | &nbsp;&nbsp;260000 | &nbsp;&nbsp;&nbsp;&nbsp;237889 |
| Northrop Grumman Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.250%, 01/15/2028 | &nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;122119 |
| &nbsp;&nbsp;&nbsp;4.400%, 05/01/2030 | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;200278 |
| Regal Rexnord Corp.<br> 6.050%, 04/15/2028 | &nbsp;&nbsp;310000 | &nbsp;&nbsp;&nbsp;&nbsp;319450 |
| Republic Services, Inc.<br> 2.375%, 03/15/2033 (B) | &nbsp;&nbsp;415000 | &nbsp;&nbsp;&nbsp;&nbsp;354560 |
| RTX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, 11/16/2048 | &nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;451214 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 104 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Total Bond Market Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Industrials (continued)** |  |  |
| RTX Corp. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;6.125%, 07/15/2038 | $225000 | $&nbsp;&nbsp;&nbsp;&nbsp;242903 |
| Southwest Airlines Company<br> 5.125%, 06/15/2027 | 520000 | &nbsp;&nbsp;&nbsp;&nbsp;524649 |
| Stanley Black & Decker, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.750%, 11/15/2050 | 330000 | &nbsp;&nbsp;&nbsp;&nbsp;187825 |
| &nbsp;&nbsp;&nbsp;4.250%, 11/15/2028 | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99335 |
| The Boeing Company |  |  |
| &nbsp;&nbsp;&nbsp;2.950%, 02/01/2030 | 440000 | &nbsp;&nbsp;&nbsp;&nbsp;407905 |
| &nbsp;&nbsp;&nbsp;3.750%, 02/01/2050 | 400000 | &nbsp;&nbsp;&nbsp;&nbsp;282478 |
| &nbsp;&nbsp;&nbsp;5.040%, 05/01/2027 | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;201490 |
| &nbsp;&nbsp;&nbsp;5.805%, 05/01/2050 | 645000 | &nbsp;&nbsp;&nbsp;&nbsp;618556 |
| &nbsp;&nbsp;&nbsp;8.750%, 09/15/2031 | &nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;106106 |
| TR Finance LLC<br> 4.500%, 05/23/2043 | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;195390 |
| Trane Technologies Global Holding Company, Ltd.<br> 4.300%, 02/21/2048 | 600000 | &nbsp;&nbsp;&nbsp;&nbsp;491943 |
| Uber Technologies, Inc.<br> 4.300%, 01/15/2030 | 535000 | &nbsp;&nbsp;&nbsp;&nbsp;532533 |
| Union Pacific Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.799%, 10/01/2051 | 343000 | &nbsp;&nbsp;&nbsp;&nbsp;258409 |
| &nbsp;&nbsp;&nbsp;3.799%, 04/06/2071 | 800000 | &nbsp;&nbsp;&nbsp;&nbsp;547953 |
| &nbsp;&nbsp;&nbsp;4.500%, 01/20/2033 | 530000 | &nbsp;&nbsp;&nbsp;&nbsp;526773 |
| United Airlines 2016-2 Class AA Pass Through Trust<br> 2.875%, 10/07/2028 | 187087 | &nbsp;&nbsp;&nbsp;&nbsp;176632 |
| United Parcel Service, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.400%, 03/15/2029 | 435000 | &nbsp;&nbsp;&nbsp;&nbsp;424257 |
| &nbsp;&nbsp;&nbsp;5.950%, 05/14/2055 | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;205239 |
| Verisk Analytics, Inc.<br> 4.125%, 03/15/2029 | 600000 | &nbsp;&nbsp;&nbsp;&nbsp;595966 |
| Waste Management, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, 11/15/2050 | 320000 | &nbsp;&nbsp;&nbsp;&nbsp;190965 |
| &nbsp;&nbsp;&nbsp;4.950%, 07/03/2031 | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;205301 |
| &nbsp;&nbsp;&nbsp;4.950%, 03/15/2035 | 275000 | &nbsp;&nbsp;&nbsp;&nbsp;276166 |
|  |  | 21524431 |
| **Information technology – 1.7%** |  |  |
| Analog Devices, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.100%, 10/01/2031 | 220000 | &nbsp;&nbsp;&nbsp;&nbsp;192228 |
| &nbsp;&nbsp;&nbsp;5.300%, 04/01/2054 | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;192760 |
| Apple, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.650%, 05/11/2030 | 975000 | &nbsp;&nbsp;&nbsp;&nbsp;868249 |
| &nbsp;&nbsp;&nbsp;2.450%, 08/04/2026 | 560000 | &nbsp;&nbsp;&nbsp;&nbsp;550440 |
| &nbsp;&nbsp;&nbsp;4.100%, 08/08/2062 | 735000 | &nbsp;&nbsp;&nbsp;&nbsp;579036 |
| &nbsp;&nbsp;&nbsp;4.850%, 05/10/2053 (B) | 300000 | &nbsp;&nbsp;&nbsp;&nbsp;286042 |
| Applied Materials, Inc.<br> 5.100%, 10/01/2035 | 495000 | &nbsp;&nbsp;&nbsp;&nbsp;509855 |
| Broadcom, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.600%, 02/15/2033 (C) | 800000 | &nbsp;&nbsp;&nbsp;&nbsp;684267 |
| &nbsp;&nbsp;&nbsp;3.137%, 11/15/2035 (C) | 600000 | &nbsp;&nbsp;&nbsp;&nbsp;506064 |
| &nbsp;&nbsp;&nbsp;4.300%, 11/15/2032 | 700000 | &nbsp;&nbsp;&nbsp;&nbsp;678997 |
| &nbsp;&nbsp;&nbsp;4.800%, 10/15/2034 | 400000 | &nbsp;&nbsp;&nbsp;&nbsp;395167 |
| CDW LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.100%, 03/01/2030 | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;201400 |
| &nbsp;&nbsp;&nbsp;5.550%, 08/22/2034 | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99724 |
| Cisco Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.950%, 02/24/2032 | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;256259 |
| &nbsp;&nbsp;&nbsp;5.900%, 02/15/2039 | &nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86033 |
| Corning, Inc.<br> 4.750%, 03/15/2042 | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;179163 |
| Dell International LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.750%, 04/01/2028 | 245000 | &nbsp;&nbsp;&nbsp;&nbsp;247867 |
| &nbsp;&nbsp;&nbsp;5.400%, 04/15/2034 | 600000 | &nbsp;&nbsp;&nbsp;&nbsp;611049 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Information technology (continued)** |  |  |
| Eaton Corp.<br> 3.103%, 09/15/2027 | $&nbsp;&nbsp;500000 | $&nbsp;&nbsp;&nbsp;&nbsp;490811 |
| Hewlett Packard Enterprise Company<br> 6.200%, 10/15/2035 | &nbsp;&nbsp;425000 | &nbsp;&nbsp;&nbsp;&nbsp;449423 |
| HP, Inc.<br> 6.000%, 09/15/2041 | &nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;527172 |
| IBM Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, 06/20/2042 | &nbsp;&nbsp;210000 | &nbsp;&nbsp;&nbsp;&nbsp;173923 |
| &nbsp;&nbsp;&nbsp;5.600%, 11/30/2039 | &nbsp;&nbsp;&nbsp;&nbsp;21000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21504 |
| Intel Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, 08/12/2031 | &nbsp;&nbsp;545000 | &nbsp;&nbsp;&nbsp;&nbsp;468160 |
| &nbsp;&nbsp;&nbsp;5.200%, 02/10/2033 | 1030000 | &nbsp;&nbsp;&nbsp;1038707 |
| Micron Technology, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, 09/15/2033 | &nbsp;&nbsp;270000 | &nbsp;&nbsp;&nbsp;&nbsp;282071 |
| &nbsp;&nbsp;&nbsp;6.750%, 11/01/2029 | &nbsp;&nbsp;220000 | &nbsp;&nbsp;&nbsp;&nbsp;237800 |
| Microsoft Corp.<br> 2.525%, 06/01/2050 | 1538000 | &nbsp;&nbsp;&nbsp;&nbsp;950436 |
| Motorola Solutions, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.600%, 05/23/2029 | &nbsp;&nbsp;175000 | &nbsp;&nbsp;&nbsp;&nbsp;175870 |
| &nbsp;&nbsp;&nbsp;5.400%, 04/15/2034 | &nbsp;&nbsp;175000 | &nbsp;&nbsp;&nbsp;&nbsp;178474 |
| NVIDIA Corp.<br> 2.000%, 06/15/2031 | &nbsp;&nbsp;425000 | &nbsp;&nbsp;&nbsp;&nbsp;377031 |
| NXP BV<br> 3.400%, 05/01/2030 | &nbsp;&nbsp;520000 | &nbsp;&nbsp;&nbsp;&nbsp;492183 |
| Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.650%, 07/15/2026 | &nbsp;&nbsp;310000 | &nbsp;&nbsp;&nbsp;&nbsp;304411 |
| &nbsp;&nbsp;&nbsp;2.875%, 03/25/2031 | &nbsp;&nbsp;435000 | &nbsp;&nbsp;&nbsp;&nbsp;396729 |
| &nbsp;&nbsp;&nbsp;3.250%, 11/15/2027 | &nbsp;&nbsp;610000 | &nbsp;&nbsp;&nbsp;&nbsp;596272 |
| &nbsp;&nbsp;&nbsp;4.000%, 11/15/2047 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;306158 |
| &nbsp;&nbsp;&nbsp;4.125%, 05/15/2045 | &nbsp;&nbsp;545000 | &nbsp;&nbsp;&nbsp;&nbsp;433096 |
| &nbsp;&nbsp;&nbsp;5.550%, 02/06/2053 | &nbsp;&nbsp;315000 | &nbsp;&nbsp;&nbsp;&nbsp;296217 |
| Qualcomm, Inc.<br> 1.650%, 05/20/2032 | &nbsp;&nbsp;626000 | &nbsp;&nbsp;&nbsp;&nbsp;520322 |
| Roper Technologies, Inc.<br> 4.200%, 09/15/2028 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;498240 |
| Salesforce, Inc.<br> 2.700%, 07/15/2041 | &nbsp;&nbsp;445000 | &nbsp;&nbsp;&nbsp;&nbsp;320107 |
| Texas Instruments, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 03/15/2039 | &nbsp;&nbsp;235000 | &nbsp;&nbsp;&nbsp;&nbsp;207663 |
| &nbsp;&nbsp;&nbsp;4.500%, 05/23/2030 | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;202138 |
| VMware LLC<br> 1.800%, 08/15/2028 | &nbsp;&nbsp;435000 | &nbsp;&nbsp;&nbsp;&nbsp;402449 |
|  |  | 17471967 |
| **Materials – 0.6%** |  |  |
| Air Products and Chemicals, Inc.<br> 1.850%, 05/15/2027 | &nbsp;&nbsp;530000 | &nbsp;&nbsp;&nbsp;&nbsp;508826 |
| Avery Dennison Corp.<br> 2.650%, 04/30/2030 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;367367 |
| DuPont de Nemours, Inc.<br> 5.319%, 11/15/2038 | &nbsp;&nbsp;262000 | &nbsp;&nbsp;&nbsp;&nbsp;271207 |
| Eastman Chemical Company<br> 4.650%, 10/15/2044 | &nbsp;&nbsp;520000 | &nbsp;&nbsp;&nbsp;&nbsp;440051 |
| Freeport-McMoRan, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.375%, 08/01/2028 | &nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;223786 |
| &nbsp;&nbsp;&nbsp;5.400%, 11/14/2034 | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;203128 |
| &nbsp;&nbsp;&nbsp;5.450%, 03/15/2043 | &nbsp;&nbsp;325000 | &nbsp;&nbsp;&nbsp;&nbsp;307130 |
| Huntsman International LLC<br> 4.500%, 05/01/2029 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;474170 |
| International Paper Company<br> 5.000%, 09/15/2035 | &nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;517128 |
| LYB International Finance II BV<br> 3.500%, 03/02/2027 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;394219 |
| Martin Marietta Materials, Inc.<br> 2.400%, 07/15/2031 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;264555 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 105 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Total Bond Market Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Materials (continued)** |  |  |
| Newmont Corp.<br> 4.875%, 03/15/2042 | $290000 | $&nbsp;&nbsp;&nbsp;&nbsp;268813 |
| Nucor Corp.<br> 2.700%, 06/01/2030 | 300000 | &nbsp;&nbsp;&nbsp;&nbsp;276769 |
| Rio Tinto Alcan, Inc.<br> 6.125%, 12/15/2033 | 115000 | &nbsp;&nbsp;&nbsp;&nbsp;124893 |
| Rio Tinto Finance USA PLC<br> 4.750%, 03/22/2042 | 285000 | &nbsp;&nbsp;&nbsp;&nbsp;258278 |
| Rio Tinto Finance USA, Ltd.<br> 5.200%, 11/02/2040 | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;245191 |
| The Dow Chemical Company |  |  |
| &nbsp;&nbsp;&nbsp;4.375%, 11/15/2042 | 420000 | &nbsp;&nbsp;&nbsp;&nbsp;341758 |
| &nbsp;&nbsp;&nbsp;9.400%, 05/15/2039 | 130000 | &nbsp;&nbsp;&nbsp;&nbsp;170202 |
| The Sherwin-Williams Company<br> 3.450%, 06/01/2027 | 325000 | &nbsp;&nbsp;&nbsp;&nbsp;320568 |
| Vulcan Materials Company<br> 3.500%, 06/01/2030 | 330000 | &nbsp;&nbsp;&nbsp;&nbsp;315709 |
| WRKCo, Inc.<br> 4.900%, 03/15/2029 | 265000 | &nbsp;&nbsp;&nbsp;&nbsp;268354 |
|  |  | 6562102 |
| **Real estate – 0.9%** |  |  |
| Alexandria Real Estate Equities, Inc.<br> 1.875%, 02/01/2033 | 415000 | &nbsp;&nbsp;&nbsp;&nbsp;331802 |
| American Homes 4 Rent LP |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, 04/15/2032 | 350000 | &nbsp;&nbsp;&nbsp;&nbsp;322945 |
| &nbsp;&nbsp;&nbsp;4.950%, 06/15/2030 | 190000 | &nbsp;&nbsp;&nbsp;&nbsp;191939 |
| American Tower Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.800%, 08/15/2029 | 525000 | &nbsp;&nbsp;&nbsp;&nbsp;510439 |
| &nbsp;&nbsp;&nbsp;4.050%, 03/15/2032 | 345000 | &nbsp;&nbsp;&nbsp;&nbsp;329936 |
| AvalonBay Communities, Inc.<br> 2.050%, 01/15/2032 | 420000 | &nbsp;&nbsp;&nbsp;&nbsp;362500 |
| Boston Properties LP<br> 2.550%, 04/01/2032 | 520000 | &nbsp;&nbsp;&nbsp;&nbsp;438680 |
| Brixmor Operating Partnership LP |  |  |
| &nbsp;&nbsp;&nbsp;4.125%, 05/15/2029 | 500000 | &nbsp;&nbsp;&nbsp;&nbsp;491650 |
| &nbsp;&nbsp;&nbsp;5.200%, 04/01/2032 | 290000 | &nbsp;&nbsp;&nbsp;&nbsp;292310 |
| Crown Castle, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, 07/15/2031 | 345000 | &nbsp;&nbsp;&nbsp;&nbsp;301039 |
| &nbsp;&nbsp;&nbsp;3.700%, 06/15/2026 | 400000 | &nbsp;&nbsp;&nbsp;&nbsp;396537 |
| Digital Realty Trust LP<br> 4.450%, 07/15/2028 | 210000 | &nbsp;&nbsp;&nbsp;&nbsp;210077 |
| Equinix, Inc.<br> 2.150%, 07/15/2030 | 400000 | &nbsp;&nbsp;&nbsp;&nbsp;355982 |
| Essex Portfolio LP<br> 3.000%, 01/15/2030 | 215000 | &nbsp;&nbsp;&nbsp;&nbsp;201046 |
| Extra Space Storage LP<br> 2.350%, 03/15/2032 | 525000 | &nbsp;&nbsp;&nbsp;&nbsp;445439 |
| GLP Capital LP<br> 5.300%, 01/15/2029 | 630000 | &nbsp;&nbsp;&nbsp;&nbsp;636985 |
| Healthpeak OP LLC<br> 3.500%, 07/15/2029 | 420000 | &nbsp;&nbsp;&nbsp;&nbsp;405462 |
| Kimco Realty OP LLC<br> 2.250%, 12/01/2031 | 265000 | &nbsp;&nbsp;&nbsp;&nbsp;229492 |
| Mid-America Apartments LP<br> 3.950%, 03/15/2029 | 420000 | &nbsp;&nbsp;&nbsp;&nbsp;414743 |
| Prologis LP<br> 5.125%, 01/15/2034 | 290000 | &nbsp;&nbsp;&nbsp;&nbsp;293526 |
| Public Storage Operating Company<br> 4.375%, 07/01/2030 | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;249399 |
| Realty Income Corp.<br> 3.250%, 01/15/2031 | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;187466 |
| Regency Centers LP<br> 5.000%, 07/15/2032 | 320000 | &nbsp;&nbsp;&nbsp;&nbsp;323659 |
| Simon Property Group LP<br> 3.375%, 06/15/2027 | 530000 | &nbsp;&nbsp;&nbsp;&nbsp;521858 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Real estate (continued)** |  |  |
| Ventas Realty LP<br> 2.500%, 09/01/2031 | $200000 | $&nbsp;&nbsp;&nbsp;&nbsp;176048 |
| VICI Properties LP |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, 05/15/2032 | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;199264 |
| &nbsp;&nbsp;&nbsp;5.625%, 04/01/2035 | 170000 | &nbsp;&nbsp;&nbsp;&nbsp;171563 |
| Welltower OP LLC<br> 2.750%, 01/15/2031 | 325000 | &nbsp;&nbsp;&nbsp;&nbsp;297109 |
|  |  | 9288895 |
| **Utilities – 2.2%** |  |  |
| AEP Transmission Company LLC<br> 3.750%, 12/01/2047 | 420000 | &nbsp;&nbsp;&nbsp;&nbsp;317979 |
| Ameren Corp.<br> 3.500%, 01/15/2031 | 860000 | &nbsp;&nbsp;&nbsp;&nbsp;812442 |
| American Electric Power Company, Inc.<br> 5.625%, 03/01/2033 | 170000 | &nbsp;&nbsp;&nbsp;&nbsp;176722 |
| American Water Capital Corp.<br> 4.300%, 09/01/2045 | 365000 | &nbsp;&nbsp;&nbsp;&nbsp;305811 |
| Arizona Public Service Company<br> 3.350%, 05/15/2050 | 520000 | &nbsp;&nbsp;&nbsp;&nbsp;352542 |
| Baltimore Gas & Electric Company<br> 4.550%, 06/01/2052 | 700000 | &nbsp;&nbsp;&nbsp;&nbsp;586232 |
| Berkshire Hathaway Energy Company |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 02/01/2045 | 680000 | &nbsp;&nbsp;&nbsp;&nbsp;584514 |
| &nbsp;&nbsp;&nbsp;6.125%, 04/01/2036 | 456000 | &nbsp;&nbsp;&nbsp;&nbsp;490425 |
| CenterPoint Energy Houston Electric LLC<br> 4.250%, 02/01/2049 | 375000 | &nbsp;&nbsp;&nbsp;&nbsp;300982 |
| CenterPoint Energy, Inc.<br> 2.950%, 03/01/2030 | 385000 | &nbsp;&nbsp;&nbsp;&nbsp;358510 |
| Consolidated Edison Company of New<br> York, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.950%, 04/01/2050 | 730000 | &nbsp;&nbsp;&nbsp;&nbsp;569073 |
| &nbsp;&nbsp;&nbsp;5.500%, 03/15/2034 | 270000 | &nbsp;&nbsp;&nbsp;&nbsp;280774 |
| Constellation Energy Generation LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.125%, 01/15/2034 | 185000 | &nbsp;&nbsp;&nbsp;&nbsp;199229 |
| &nbsp;&nbsp;&nbsp;6.250%, 10/01/2039 | 160000 | &nbsp;&nbsp;&nbsp;&nbsp;170804 |
| Dominion Energy South Carolina, Inc.<br> 4.600%, 06/15/2043 | 395000 | &nbsp;&nbsp;&nbsp;&nbsp;350206 |
| Dominion Energy, Inc.<br> 3.375%, 04/01/2030 | 530000 | &nbsp;&nbsp;&nbsp;&nbsp;503673 |
| DTE Electric Company |  |  |
| &nbsp;&nbsp;&nbsp;3.750%, 08/15/2047 | 300000 | &nbsp;&nbsp;&nbsp;&nbsp;228292 |
| &nbsp;&nbsp;&nbsp;5.200%, 04/01/2033 | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;256868 |
| Duke Energy Carolinas LLC<br> 6.000%, 01/15/2038 | 300000 | &nbsp;&nbsp;&nbsp;&nbsp;319700 |
| Duke Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.450%, 06/01/2030 | 725000 | &nbsp;&nbsp;&nbsp;&nbsp;657893 |
| &nbsp;&nbsp;&nbsp;4.800%, 12/15/2045 | 500000 | &nbsp;&nbsp;&nbsp;&nbsp;432989 |
| &nbsp;&nbsp;&nbsp;5.000%, 08/15/2052 | 630000 | &nbsp;&nbsp;&nbsp;&nbsp;552323 |
| &nbsp;&nbsp;&nbsp;5.750%, 09/15/2033 | 500000 | &nbsp;&nbsp;&nbsp;&nbsp;525149 |
| Entergy Texas, Inc.<br> 1.750%, 03/15/2031 | 730000 | &nbsp;&nbsp;&nbsp;&nbsp;629682 |
| Essential Utilities, Inc.<br> 4.276%, 05/01/2049 | 415000 | &nbsp;&nbsp;&nbsp;&nbsp;325796 |
| Eversource Energy<br> 4.250%, 04/01/2029 | 330000 | &nbsp;&nbsp;&nbsp;&nbsp;326781 |
| Exelon Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.400%, 04/15/2026 | 542000 | &nbsp;&nbsp;&nbsp;&nbsp;537228 |
| &nbsp;&nbsp;&nbsp;5.125%, 03/15/2031 | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;204861 |
| FirstEnergy Corp.<br> 2.650%, 03/01/2030 | 375000 | &nbsp;&nbsp;&nbsp;&nbsp;344318 |
| Florida Power & Light Company<br> 5.650%, 02/01/2037 | 515000 | &nbsp;&nbsp;&nbsp;&nbsp;539469 |
| Georgia Power Company |  |  |
| &nbsp;&nbsp;&nbsp;4.950%, 05/17/2033 | 330000 | &nbsp;&nbsp;&nbsp;&nbsp;332556 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 106 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Total Bond Market Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Utilities (continued)** |  |  |
| Georgia Power Company (continued) |  |  |
| &nbsp;&nbsp;&nbsp;5.950%, 02/01/2039 | $335000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;341868 |
| Indiana Michigan Power Company |  |  |
| &nbsp;&nbsp;&nbsp;3.850%, 05/15/2028 | 400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395745 |
| &nbsp;&nbsp;&nbsp;6.050%, 03/15/2037 | 207000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222799 |
| NextEra Energy Capital Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.250%, 06/01/2030 | 730000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;657425 |
| &nbsp;&nbsp;&nbsp;5.250%, 02/28/2053 | 725000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;669359 |
| NiSource, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.950%, 03/30/2048 | 300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231516 |
| &nbsp;&nbsp;&nbsp;5.400%, 06/30/2033 | 950000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;971573 |
| Oncor Electric Delivery Company LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.550%, 09/15/2032 | 115000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113546 |
| &nbsp;&nbsp;&nbsp;7.500%, 09/01/2038 | 188000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225476 |
| Pacific Gas & Electric Company |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, 02/01/2031 | 400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;347221 |
| &nbsp;&nbsp;&nbsp;3.750%, 07/01/2028 | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29107 |
| &nbsp;&nbsp;&nbsp;4.550%, 07/01/2030 | 257000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250838 |
| &nbsp;&nbsp;&nbsp;4.950%, 07/01/2050 | 757000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;610148 |
| &nbsp;&nbsp;&nbsp;5.800%, 05/15/2034 | 355000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;354928 |
| PacifiCorp<br> 6.000%, 01/15/2039 | 335000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346030 |
| PPL Electric Utilities Corp.<br> 5.000%, 05/15/2033 | 265000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269019 |
| Public Service Company of Colorado<br> 3.600%, 09/15/2042 | 520000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400404 |
| Public Service Electric & Gas Company<br> 3.100%, 03/15/2032 | 300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;274305 |
| San Diego Gas & Electric Company<br> 6.125%, 09/15/2037 | 202000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212671 |
| Sempra<br> 3.400%, 02/01/2028 | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195262 |
| Southern California Edison Company |  |  |
| &nbsp;&nbsp;&nbsp;2.250%, 06/01/2030 | 755000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;662852 |
| &nbsp;&nbsp;&nbsp;5.350%, 07/15/2035 | 130000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126622 |
| Southern California Gas Company<br> 6.350%, 11/15/2052 | 430000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460734 |
| The Connecticut Light & Power Company<br> 4.300%, 04/15/2044 | 255000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215275 |
| The Southern Company |  |  |
| &nbsp;&nbsp;&nbsp;3.250%, 07/01/2026 | 622000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;615284 |
| &nbsp;&nbsp;&nbsp;4.400%, 07/01/2046 | 420000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;349774 |
| Virginia Electric & Power Company |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, 05/15/2052 | 270000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;226967 |
| &nbsp;&nbsp;&nbsp;8.875%, 11/15/2038 | 190000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251033 |
| Wisconsin Electric Power Company<br> 4.750%, 09/30/2032 | 220000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222409 |
| Xcel Energy, Inc.<br> 4.600%, 06/01/2032 | 630000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;616060 |
|  |  | &nbsp;&nbsp;&nbsp;23440073 |
| TOTAL CORPORATE BONDS (Cost $269,881,746) |  | $258697368 |
| **MUNICIPAL BONDS – 0.3%** |  |  |
| Bay Area Toll Authority (California)<br> 6.907%, 10/01/2050 | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56110 |
| Illinois State Toll Highway Authority<br> 6.184%, 01/01/2034 | 150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160633 |
| Metropolitan Washington Airports Authority<br> 7.462%, 10/01/2046 | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46263 |
| New Jersey Turnpike Authority<br> 7.102%, 01/01/2041 | &nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103087 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **MUNICIPAL BONDS (continued)** |  |  |
| New York City Transitional Finance Authority<br> 5.588%, 05/01/2038 | &nbsp;&nbsp;500000 | $&nbsp;&nbsp;&nbsp;&nbsp;514163 |
| New York State Dormitory Authority<br> 5.628%, 03/15/2039 | &nbsp;&nbsp;340000 | &nbsp;&nbsp;&nbsp;&nbsp;349736 |
| New York State Urban Development Corp.<br> 5.770%, 03/15/2039 | &nbsp;&nbsp;235000 | &nbsp;&nbsp;&nbsp;&nbsp;242482 |
| State of California, GO<br> 7.300%, 10/01/2039 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;462624 |
| State of California, GO<br> 7.500%, 04/01/2034 | &nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92774 |
| State of Illinois, GO<br> 5.100%, 06/01/2033 | &nbsp;&nbsp;100343 | &nbsp;&nbsp;&nbsp;&nbsp;100643 |
| State of Illinois, GO<br> 7.350%, 07/01/2035 | &nbsp;&nbsp;220000 | &nbsp;&nbsp;&nbsp;&nbsp;235224 |
| State of Texas, GO<br> 5.517%, 04/01/2039 | &nbsp;&nbsp;260000 | &nbsp;&nbsp;&nbsp;&nbsp;267615 |
| State of Utah, GO<br> 3.539%, 07/01/2025 | &nbsp;&nbsp;&nbsp;&nbsp;76759 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76759 |
| Texas Transportation Commission State Highway Fund<br> 5.178%, 04/01/2030 | &nbsp;&nbsp;310000 | &nbsp;&nbsp;&nbsp;&nbsp;315888 |
| TOTAL MUNICIPAL BONDS (Cost $2,954,928) | TOTAL MUNICIPAL BONDS (Cost $2,954,928) | $&nbsp;&nbsp;&nbsp;3024001 |
| **COLLATERALIZED MORTGAGE OBLIGATIONS – 1.4%** | **COLLATERALIZED MORTGAGE OBLIGATIONS – 1.4%** |  |
| **Commercial and residential – 1.4%** |  |  |
| BANK |  |  |
| &nbsp;&nbsp;&nbsp;Series 2017-BNK6, Class A4,<br> 3.254%, 07/15/2060 | 1872640 | &nbsp;&nbsp;&nbsp;1831333 |
| &nbsp;&nbsp;&nbsp;Series 2022-BNK39, Class A4,<br> 2.928%, 02/15/2055 (D) | 2000000 | &nbsp;&nbsp;&nbsp;1781686 |
| BBCMS Mortgage Trust<br> Series 2024-5C29, Class AS<br> 5.627%, 09/15/2057 | 1500000 | &nbsp;&nbsp;&nbsp;1534854 |
| BMO Mortgage Trust<br> Series 2022-C1, Class A5<br> 3.374%, 02/15/2055 (D) | 2000000 | &nbsp;&nbsp;&nbsp;1831066 |
| CD Mortgage Trust<br> Series 2017-CD3, Class A4<br> 3.631%, 02/10/2050 | 1090000 | &nbsp;&nbsp;&nbsp;1049125 |
| GS Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2016-GS4, Class A3,<br> 3.178%, 11/10/2049 | 1573971 | &nbsp;&nbsp;&nbsp;1549593 |
| &nbsp;&nbsp;&nbsp;Series 2017-GS5, Class A3,<br> 3.409%, 03/10/2050 | 2742204 | &nbsp;&nbsp;&nbsp;2698211 |
| Morgan Stanley Capital Trust<br> Series 2021-L5, Class A4<br> 2.728%, 05/15/2054 | 2000000 | &nbsp;&nbsp;&nbsp;1788752 |
| Wells Fargo Commercial Mortgage Trust<br> Series 2015-C29, Class AS<br> 4.013%, 06/15/2048 (D) | &nbsp;&nbsp;368154 | &nbsp;&nbsp;&nbsp;&nbsp;367291 |
|  |  | 14431911 |
| **U.S. Government Agency – 0.0%** |  |  |
| Federal Home Loan Mortgage Corp.<br> Series K755, Class A2<br> 5.203%, 02/25/2031 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;626810 |
| TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $15,522,001) | TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $15,522,001) | $15058721 |
| **ASSET-BACKED SECURITIES – 0.5%** | **ASSET-BACKED SECURITIES – 0.5%** |  |
| Carmax Auto Owner Trust<br> Series 2022-4, Class A4<br> 5.700%, 07/17/2028 | 1000000 | &nbsp;&nbsp;&nbsp;1015535 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 107 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Total Bond Market Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET-BACKED SECURITIES (continued)** | **ASSET-BACKED SECURITIES (continued)** |  |
| Carvana Auto Receivables Trust<br> Series 2024-P2, Class A4<br> 5.210%, 06/10/2030 | 1000000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1023939 |
| CNH Equipment Trust<br> Series 2023-B, Class A4<br> 5.460%, 03/17/2031 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;616510 |
| SMB Private Education Loan Trust<br> Series 2021-E, Class A1A<br> 1.680%, 02/15/2051 (C) | &nbsp;&nbsp;739434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;691930 |
| Toyota Auto Receivables Owner Trust<br> Series 2023-B, Class A4<br> 4.660%, 09/15/2028 | 1250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1257362 |
| TOTAL ASSET-BACKED SECURITIES (Cost $4,647,373) |  | $&nbsp;&nbsp;&nbsp;&nbsp;4605276 |
| **SHORT-TERM INVESTMENTS – 0.9%** | **SHORT-TERM INVESTMENTS – 0.9%** |  |
| **Short-term funds – 0.9%** |  |  |
| John Hancock Collateral Trust, 4.2596% (E)(F) | &nbsp;&nbsp;909896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9101146 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $9,101,042) | TOTAL SHORT-TERM INVESTMENTS (Cost $9,101,042) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9101146 |
| **Total Investments (Total Bond Market Trust)<br> (Cost $1,099,462,779) – 99.7%** | **Total Investments (Total Bond Market Trust)<br> (Cost $1,099,462,779) – 99.7%** | $**1043957627** |
| **Other assets and liabilities, net – 0.3%** |  | &nbsp;&nbsp;&nbsp;&nbsp;**3631434** |
| **TOTAL NET ASSETS – 100.0%** |  | $**1047589061** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| CME | CME Group Published Rates |
| CMT | Constant Maturity Treasury |
| GO | General Obligation |
| IBOR | Interbank Offered Rate |
| SOFR | Secured Overnight Financing Rate |
| (A) | Variable rate obligation. The coupon rate shown represents the rate at period end. |
| (B) | All or a portion of this security is on loan as of 6-30-25. |
| (C) | This security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. |
| (D) | Variable or floating rate security, the interest rate of which adjusts periodically based on a weighted average of interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of period end. |
| (E) | The rate shown is the annualized seven-day yield as of 6-30-25. |
| (F) | Investment is an affiliate of the fund, the advisor and/or subadvisor. A portion of this security represents the investment of cash collateral received for securities lending. Market value of this investment amounted to $739,836. |

---

#### Ultra Short Term Bond Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY OBLIGATIONS –<br> 0.4%** | **U.S. GOVERNMENT AND AGENCY OBLIGATIONS –<br> 0.4%** |  |
| **U.S. Government Agency – 0.4%** |  |  |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.140%, (6 month Refinitiv USD IBOR Consumer Cash Fallback Rate + 1.515%), 12/01/2035 (A) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8207 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8325 |
| &nbsp;&nbsp;&nbsp;6.165%, (1 Year CMT + 2.165%), 11/01/2036 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34686 |
| &nbsp;&nbsp;&nbsp;6.231%, (1 Year CMT + 2.231%), 05/01/2034 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49763 |

---

#### Ultra Short Term Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** | **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Federal Home Loan<br> Mortgage Corp. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;6.440%, (6 month Refinitiv USD IBOR Consumer Cash Fallback Rate + 1.565%), 12/01/2036 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18251 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18556 |
| &nbsp;&nbsp;&nbsp;6.546%, (1 Year CMT + 2.112%), 12/01/2035 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46794 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47638 |
| &nbsp;&nbsp;&nbsp;6.652%, (1 Year Refinitiv USD IBOR Consumer Cash Fallback Rate + 1.585%), 05/01/2037 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37027 |
| &nbsp;&nbsp;&nbsp;6.835%, (1 Year Refinitiv USD IBOR Consumer Cash Fallback Rate + 1.538%), 02/01/2036 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23126 |
| &nbsp;&nbsp;&nbsp;7.322%, (1 Year Refinitiv USD IBOR Consumer Cash Fallback Rate + 1.447%), 06/01/2036 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12558 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12815 |
| &nbsp;&nbsp;&nbsp;7.420%, (1 Year CMT + 2.295%), 08/01/2035 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39717 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40556 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;6.103%, (6 month Refinitiv USD IBOR Consumer Cash Fallback Rate + 1.484%), 10/01/2035 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46602 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47353 |
| &nbsp;&nbsp;&nbsp;6.135%, (6 month Refinitiv USD IBOR Consumer Cash Fallback Rate + 1.524%), 02/01/2035 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33577 |
| &nbsp;&nbsp;&nbsp;6.286%, (1 Year Refinitiv USD IBOR Consumer Cash Fallback Rate + 1.295%), 10/01/2038 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14993 |
| &nbsp;&nbsp;&nbsp;6.422%, (1 Year CMT + 2.204%), 05/01/2036 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96519 |
| &nbsp;&nbsp;&nbsp;6.429%, (1 Year CMT + 2.193%), 02/01/2035 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73624 |
| &nbsp;&nbsp;&nbsp;6.469%, (1 Year CMT + 2.159%), 01/01/2036 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60725 |
| &nbsp;&nbsp;&nbsp;6.486%, (1 Year Refinitiv USD IBOR Consumer Cash Fallback Rate + 1.435%), 04/01/2035 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136803 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139606 |
| &nbsp;&nbsp;&nbsp;6.518%, (1 Year Refinitiv USD IBOR Consumer Cash Fallback Rate + 1.570%), 07/01/2035 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77195 |
| &nbsp;&nbsp;&nbsp;6.557%, (1 Year CMT + 2.151%), 01/01/2036 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18592 |
| &nbsp;&nbsp;&nbsp;6.594%, (1 Year CMT + 2.333%), 05/01/2034 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36101 |
| &nbsp;&nbsp;&nbsp;6.679%, (1 Year CMT + 2.273%), 07/01/2035 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48091 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;918868 |
| TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $948,619) | TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $948,619) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;918868 |
| **CORPORATE BONDS – 52.9%** | **CORPORATE BONDS – 52.9%** |  |
| **Communication services – 4.1%** |  |  |
| AT&T, Inc.<br> 1.700%, 03/25/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;914000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;895684 |
| Charter Communications Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.908%, 07/23/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;461000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460966 |
| &nbsp;&nbsp;&nbsp;6.150%, 11/10/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;685000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;698112 |
| Comcast Corp.<br> 3.950%, 10/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1996885 |
| Netflix, Inc.<br> 4.375%, 11/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;930000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;934709 |
| T-Mobile USA, Inc.<br> 2.250%, 02/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2560000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2520323 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 108 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Ultra Short Term Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Communication services (continued)** |  |  |
| TWDC Enterprises 18 Corp.<br> 3.000%, 02/13/2026 | $2000000 | $&nbsp;&nbsp;&nbsp;1984639 |
|  |  | &nbsp;&nbsp;&nbsp;9491318 |
| **Consumer discretionary – 4.7%** |  |  |
| American Honda Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.300%, 09/09/2026 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;683282 |
| &nbsp;&nbsp;&nbsp;4.950%, 01/09/2026 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;701541 |
| BMW US Capital LLC<br> 2.800%, 04/11/2026 (B) | 3000000 | &nbsp;&nbsp;&nbsp;2962645 |
| Ford Motor Credit Company LLC<br> 4.389%, 01/08/2026 | 1107000 | &nbsp;&nbsp;&nbsp;1102053 |
| General Motors Financial Company, Inc.<br> 5.050%, 04/04/2028 | 2000000 | &nbsp;&nbsp;&nbsp;2015163 |
| Hyundai Capital America<br> 5.250%, 01/08/2027 (B) | 2000000 | &nbsp;&nbsp;&nbsp;2018598 |
| Mercedes-Benz Finance North America LLC<br> 5.200%, 08/03/2026 (B) | 1400000 | &nbsp;&nbsp;&nbsp;1411335 |
|  |  | 10894617 |
| **Consumer staples – 0.9%** |  |  |
| Mars, Inc.<br> 4.600%, 03/01/2028 (B) | 2000000 | &nbsp;&nbsp;&nbsp;2016258 |
| **Energy – 2.3%** |  |  |
| Enterprise Products Operating LLC<br> 5.050%, 01/10/2026 | 1430000 | &nbsp;&nbsp;&nbsp;1433218 |
| EOG Resources, Inc.<br> 4.150%, 01/15/2026 | 1450000 | &nbsp;&nbsp;&nbsp;1446783 |
| MPLX LP<br> 1.750%, 03/01/2026 | &nbsp;&nbsp;695000 | &nbsp;&nbsp;&nbsp;&nbsp;681575 |
| Phillips 66 Company<br> 3.550%, 10/01/2026 | 1131000 | &nbsp;&nbsp;&nbsp;1119261 |
| Spectra Energy Partners LP<br> 3.375%, 10/15/2026 | &nbsp;&nbsp;680000 | &nbsp;&nbsp;&nbsp;&nbsp;670470 |
|  |  | &nbsp;&nbsp;&nbsp;5351307 |
| **Financials – 20.8%** |  |  |
| American Express Company<br> 6.338%, (6.338% to 10-30-25, then Overnight SOFR + 1.330%), 10/30/2026 | 2000000 | &nbsp;&nbsp;&nbsp;2011720 |
| Ares Capital Corp.<br> 3.875%, 01/15/2026 | 1840000 | &nbsp;&nbsp;&nbsp;1830409 |
| Athene Global Funding<br> 5.620%, 05/08/2026 (B) | 1800000 | &nbsp;&nbsp;&nbsp;1816125 |
| Bank of America Corp.<br> 4.827%, (4.827% to 7-22-25, then Overnight SOFR + 1.750%), 07/22/2026 | 2000000 | &nbsp;&nbsp;&nbsp;1999997 |
| Barclays PLC<br> 5.304%, (5.304% to 8-9-25, then 1 Year CMT + 2.300%), 08/09/2026 | 1180000 | &nbsp;&nbsp;&nbsp;1180329 |
| Blackstone Private Credit Fund<br> 7.050%, 09/29/2025 | 2000000 | &nbsp;&nbsp;&nbsp;2011012 |
| Capital One NA<br> 4.250%, 03/13/2026 | 2000000 | &nbsp;&nbsp;&nbsp;1995895 |
| Citizens Financial Group, Inc.<br> 4.300%, 12/03/2025 | 1195000 | &nbsp;&nbsp;&nbsp;1192671 |
| Credit Agricole SA<br> 1.247%, (1.247% to 1-26-26, then Overnight SOFR + 0.892%), 01/26/2027 (B) | 2000000 | &nbsp;&nbsp;&nbsp;1961855 |
| Fifth Third Bank NA<br> 4.967%, (4.967% to 1-28-27, then Overnight SOFR + 0.810%), 01/28/2028 | 2000000 | &nbsp;&nbsp;&nbsp;2014644 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| Goldman Sachs Bank USA<br> 5.283%, (5.283% to 3-18-26, then Overnight SOFR + 0.777%), 03/18/2027 | $&nbsp;&nbsp;902000 | $&nbsp;&nbsp;&nbsp;&nbsp;906451 |
| ING Groep NV<br> 3.950%, 03/29/2027 | &nbsp;&nbsp;904000 | &nbsp;&nbsp;&nbsp;&nbsp;899743 |
| JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;3.900%, 07/15/2025 | 3000000 | &nbsp;&nbsp;&nbsp;2998868 |
| &nbsp;&nbsp;&nbsp;3.960%, (3.960% to 1-29-26, then 3 month CME Term SOFR + 1.507%), 01/29/2027 | &nbsp;&nbsp;908000 | &nbsp;&nbsp;&nbsp;&nbsp;905616 |
| KeyBank NA<br> 4.150%, 08/08/2025 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;999261 |
| Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;3.950%, 04/23/2027 | &nbsp;&nbsp;922000 | &nbsp;&nbsp;&nbsp;&nbsp;916208 |
| &nbsp;&nbsp;&nbsp;4.000%, 07/23/2025 | 1455000 | &nbsp;&nbsp;&nbsp;1453632 |
| PNC Bank NA<br> 3.100%, 10/25/2027 | 2000000 | &nbsp;&nbsp;&nbsp;1950866 |
| Royal Bank of Canada<br> 4.650%, 01/27/2026 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;699786 |
| Sammons Financial Group Global Funding<br> 5.050%, 01/10/2028 (B) | 1000000 | &nbsp;&nbsp;&nbsp;1014680 |
| Santander Holdings USA, Inc.<br> 3.244%, 10/05/2026 | 3000000 | &nbsp;&nbsp;&nbsp;2953715 |
| Sixth Street Specialty Lending, Inc.<br> 2.500%, 08/01/2026 (C) | &nbsp;&nbsp;583000 | &nbsp;&nbsp;&nbsp;&nbsp;570003 |
| Societe Generale SA<br> 1.488%, (1.488% to 12-14-25, then 1 Year CMT + 1.100%), 12/14/2026 (B) | 1157000 | &nbsp;&nbsp;&nbsp;1140156 |
| The Goldman Sachs Group, Inc.<br> 1.431%, (1.431% to 3-9-26, then Overnight SOFR + 0.798%), 03/09/2027 | 2000000 | &nbsp;&nbsp;&nbsp;1956796 |
| The Toronto-Dominion Bank<br> 1.200%, 06/03/2026 | 2000000 | &nbsp;&nbsp;&nbsp;1943529 |
| Truist Bank<br> 3.300%, 05/15/2026 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;693187 |
| Truist Financial Corp.<br> 4.260%, (4.260% to 7-28-25, then Overnight SOFR + 1.456%), 07/28/2026 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;699718 |
| U.S. Bancorp<br> 5.727%, (5.727% to 10-21-25, then Overnight SOFR + 1.430%), 10/21/2026 | 1450000 | &nbsp;&nbsp;&nbsp;1454862 |
| UBS Group AG<br> 4.125%, 04/15/2026 (B) | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;698013 |
| Visa, Inc.<br> 3.150%, 12/14/2025 | 3000000 | &nbsp;&nbsp;&nbsp;2983621 |
| Wells Fargo & Company |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, 10/23/2026 | &nbsp;&nbsp;931000 | &nbsp;&nbsp;&nbsp;&nbsp;915043 |
| &nbsp;&nbsp;&nbsp;4.100%, 06/03/2026 | &nbsp;&nbsp;903000 | &nbsp;&nbsp;&nbsp;&nbsp;899392 |
|  |  | 47667803 |
| **Health care – 8.6%** |  |  |
| AbbVie, Inc.<br> 3.200%, 05/14/2026 | 3000000 | &nbsp;&nbsp;&nbsp;2971317 |
| Amgen, Inc.<br> 5.507%, 03/02/2026 | 1820000 | &nbsp;&nbsp;&nbsp;1820267 |
| Astrazeneca Finance LLC<br> 1.200%, 05/28/2026 | 2000000 | &nbsp;&nbsp;&nbsp;1946773 |
| Bristol-Myers Squibb Company<br> 3.200%, 06/15/2026 | 3000000 | &nbsp;&nbsp;&nbsp;2972030 |
| CVS Health Corp.<br> 5.000%, 02/20/2026 | 3000000 | &nbsp;&nbsp;&nbsp;3003932 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 109 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Ultra Short Term Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Health care (continued)** |  |  |
| HCA, Inc.<br> 5.875%, 02/15/2026 | $2000000 | $&nbsp;&nbsp;&nbsp;&nbsp;2002170 |
| Pfizer Investment Enterprises Pte, Ltd.<br> 4.450%, 05/19/2026 | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;3003286 |
| Solventum Corp.<br> 5.450%, 02/25/2027 | 1112000 | &nbsp;&nbsp;&nbsp;&nbsp;1130141 |
| UnitedHealth Group, Inc.<br> 4.400%, 06/15/2028 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;1004953 |
|  |  | &nbsp;&nbsp;&nbsp;19854869 |
| **Industrials – 4.5%** |  |  |
| 3M Company<br> 3.000%, 08/07/2025 | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;2992908 |
| AerCap Ireland Capital DAC |  |  |
| &nbsp;&nbsp;&nbsp;6.100%, 01/15/2027 | &nbsp;&nbsp;655000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;669536 |
| &nbsp;&nbsp;&nbsp;6.500%, 07/15/2025 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;2001276 |
| CSX Corp.<br> 2.600%, 11/01/2026 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;1957039 |
| Lockheed Martin Corp.<br> 4.950%, 10/15/2025 | 1445000 | &nbsp;&nbsp;&nbsp;&nbsp;1445406 |
| The Boeing Company<br> 5.040%, 05/01/2027 | 1152000 | &nbsp;&nbsp;&nbsp;&nbsp;1160582 |
|  |  | &nbsp;&nbsp;&nbsp;10226747 |
| **Information technology – 3.0%** |  |  |
| Apple, Inc.<br> 0.700%, 02/08/2026 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;978783 |
| Broadcom Corp.<br> 3.875%, 01/15/2027 | &nbsp;&nbsp;680000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675292 |
| Broadcom, Inc.<br> 3.459%, 09/15/2026 | &nbsp;&nbsp;896000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;887609 |
| Dell International LLC<br> 6.020%, 06/15/2026 | 1429000 | &nbsp;&nbsp;&nbsp;&nbsp;1442506 |
| IBM Corp.<br> 7.000%, 10/30/2025 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;705666 |
| Marvell Technology, Inc.<br> 1.650%, 04/15/2026 | &nbsp;&nbsp;694000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;678188 |
| Oracle Corp.<br> 1.650%, 03/25/2026 | 1540000 | &nbsp;&nbsp;&nbsp;&nbsp;1508509 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;6876553 |
| **Real estate – 1.7%** |  |  |
| American Tower Corp.<br> 3.375%, 10/15/2026 | &nbsp;&nbsp;901000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;889483 |
| Realty Income Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.875%, 06/01/2026 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;701834 |
| &nbsp;&nbsp;&nbsp;5.050%, 01/13/2026 | 1143000 | &nbsp;&nbsp;&nbsp;&nbsp;1142995 |
| VICI Properties LP<br> 4.500%, 09/01/2026 (B) | 1138000 | &nbsp;&nbsp;&nbsp;&nbsp;1134867 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;3869179 |
| **Utilities – 2.3%** |  |  |
| American Electric Power Company, Inc.<br> 5.750%, 11/01/2027 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;2062455 |
| Duke Energy Corp.<br> 4.850%, 01/05/2027 | &nbsp;&nbsp;895000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;903826 |
| Sempra<br> 5.400%, 08/01/2026 | &nbsp;&nbsp;897000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;905692 |
| Sierra Pacific Power Company<br> 2.600%, 05/01/2026 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;689384 |
| The Southern Company<br> 3.250%, 07/01/2026 | &nbsp;&nbsp;684000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;676614 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;5237971 |
| TOTAL CORPORATE BONDS (Cost $121,112,244) |  | $121486622 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS – 0.3%** | **COLLATERALIZED MORTGAGE OBLIGATIONS – 0.3%** |  |
| **Commercial and residential – 0.1%** |  |  |
| COLT Mortgage Loan Trust<br> Series 2020-3, Class A1<br> 1.506%, 04/27/2065 (B)(D) | $&nbsp;&nbsp;&nbsp;&nbsp;50346 | $&nbsp;&nbsp;&nbsp;&nbsp;49086 |
| Towd Point Mortgage Trust<br> Series 2016-4, Class M1<br> 3.250%, 07/25/2056 (B)(D) | &nbsp;&nbsp;281534 | &nbsp;&nbsp;&nbsp;&nbsp;277903 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;326989 |
| **U.S. Government Agency – 0.2%** |  |  |
| Federal National Mortgage Association<br> Series 2013-10, Class FT (30 day Average SOFR + 0.464%)<br> 4.770%, 04/25/2042 (A) | &nbsp;&nbsp;331801 | &nbsp;&nbsp;&nbsp;&nbsp;328034 |
| TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $660,280) | TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $660,280) | $&nbsp;&nbsp;&nbsp;&nbsp;655023 |
| **ASSET-BACKED SECURITIES – 23.8%** | **ASSET-BACKED SECURITIES – 23.8%** |  |
| Ally Bank Auto Credit-Linked Notes |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-A, Class A2<br> 5.681%, 05/17/2032 (B) | 1188340 | 1206801 |
| &nbsp;&nbsp;&nbsp;Series 2024-B, Class A2<br> 4.970%, 09/15/2032 (B) | &nbsp;&nbsp;186014 | &nbsp;&nbsp;&nbsp;&nbsp;187365 |
| American Express Credit Account Master Trust<br> Series 2022-3, Class A<br> 3.750%, 08/15/2027 | 2000000 | 1998019 |
| Amur Equipment Finance Receivables XIII LLC<br> Series 2024-1A, Class A2<br> 5.380%, 01/21/2031 (B) | &nbsp;&nbsp;970457 | &nbsp;&nbsp;&nbsp;&nbsp;978744 |
| ARI Fleet Lease Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-A, Class A2<br> 5.300%, 11/15/2032 (B) | &nbsp;&nbsp;661688 | &nbsp;&nbsp;&nbsp;&nbsp;664638 |
| &nbsp;&nbsp;&nbsp;Series 2025-B, Class A2<br> 4.590%, 03/15/2034 (B) | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;702624 |
| Avis Budget Rental Car Funding<br> AESOP LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-1A, Class A<br> 2.330%, 08/20/2026 (B) | &nbsp;&nbsp;158333 | &nbsp;&nbsp;&nbsp;&nbsp;157943 |
| &nbsp;&nbsp;&nbsp;Series 2020-2A, Class A<br> 2.020%, 02/20/2027 (B) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;988482 |
| &nbsp;&nbsp;&nbsp;Series 2022-3A, Class A<br> 4.620%, 02/20/2027 (B) | &nbsp;&nbsp;850000 | &nbsp;&nbsp;&nbsp;&nbsp;849591 |
| BMW Vehicle Lease Trust<br> Series 2025-1, Class A2A<br> 4.430%, 09/27/2027 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;701484 |
| Capital One Multi-Asset Execution Trust<br> Series 2023-A1, Class A<br> 4.420%, 05/15/2028 | 2000000 | 2001944 |
| CarMax Auto Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-3, Class A4<br> 0.740%, 01/15/2027 | &nbsp;&nbsp;746585 | &nbsp;&nbsp;&nbsp;&nbsp;740970 |
| &nbsp;&nbsp;&nbsp;Series 2021-4, Class A4<br> 0.820%, 04/15/2027 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;590864 |
| &nbsp;&nbsp;&nbsp;Series 2022-1, Class A3<br> 1.470%, 12/15/2026 | &nbsp;&nbsp;105813 | &nbsp;&nbsp;&nbsp;&nbsp;105266 |
| &nbsp;&nbsp;&nbsp;Series 2023-1, Class A3<br> 4.750%, 10/15/2027 | &nbsp;&nbsp;550438 | &nbsp;&nbsp;&nbsp;&nbsp;551013 |
| &nbsp;&nbsp;&nbsp;Series 2023-2, Class A4<br> 5.010%, 11/15/2028 | &nbsp;&nbsp;455000 | &nbsp;&nbsp;&nbsp;&nbsp;459854 |
| Carvana Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-P4, Class A4<br> 1.640%, 12/10/2027 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;491883 |
| &nbsp;&nbsp;&nbsp;Series 2022-P3, Class A3<br> 4.610%, 11/10/2027 | &nbsp;&nbsp;400454 | &nbsp;&nbsp;&nbsp;&nbsp;400356 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 110 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Ultra Short Term Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET-BACKED SECURITIES (continued)** | **ASSET-BACKED SECURITIES (continued)** |  |
| Chase Auto Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-AA, Class A4<br> 3.990%, 03/27/2028 (B) | $&nbsp;&nbsp;743000 | $&nbsp;&nbsp;&nbsp;&nbsp;740278 |
| &nbsp;&nbsp;&nbsp;Series 2024-1A, Class A3<br> 5.130%, 05/25/2029 (B) | &nbsp;&nbsp;137587 | &nbsp;&nbsp;&nbsp;&nbsp;138801 |
| Chesapeake Funding II LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2023-1A, Class A1<br> 5.650%, 05/15/2035 (B) | &nbsp;&nbsp;361101 | &nbsp;&nbsp;&nbsp;&nbsp;362891 |
| &nbsp;&nbsp;&nbsp;Series 2023-2A, Class A1<br> 6.160%, 10/15/2035 (B) | &nbsp;&nbsp;501443 | &nbsp;&nbsp;&nbsp;&nbsp;508129 |
| Citizens Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2023-2, Class A4<br> 5.740%, 10/15/2030 (B) | 1165000 | 1190998 |
| &nbsp;&nbsp;&nbsp;Series 2024-1, Class A3<br> 5.110%, 04/17/2028 (B) | 1800000 | 1809792 |
| CNH Equipment Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-B, Class A4<br> 0.700%, 05/17/2027 | &nbsp;&nbsp;493211 | &nbsp;&nbsp;&nbsp;&nbsp;489433 |
| &nbsp;&nbsp;&nbsp;Series 2022-B, Class A3<br> 3.890%, 11/15/2027 | &nbsp;&nbsp;117646 | &nbsp;&nbsp;&nbsp;&nbsp;117214 |
| Dell Equipment Finance Trust<br> Series 2024-1, Class A2<br> 5.580%, 03/22/2030 (B) | &nbsp;&nbsp;629013 | &nbsp;&nbsp;&nbsp;&nbsp;630272 |
| DLLAA LLC<br> Series 2023-1A, Class A3<br> 5.640%, 02/22/2028 (B) | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;708443 |
| DLLAD LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2023-1A, Class A3<br> 4.790%, 01/20/2028 (B) | &nbsp;&nbsp;612312 | &nbsp;&nbsp;&nbsp;&nbsp;613853 |
| &nbsp;&nbsp;&nbsp;Series 2024-1A, Class A3<br> 5.300%, 07/20/2029 (B) | &nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;815817 |
| DLLST LLC<br> Series 2024-1A, Class A3<br> 5.050%, 08/20/2027 (B) | &nbsp;&nbsp;190000 | &nbsp;&nbsp;&nbsp;&nbsp;190739 |
| Enterprise Fleet Financing<br> Series 2022-3, Class A3<br> 4.290%, 07/20/2029 (B) | &nbsp;&nbsp;137000 | &nbsp;&nbsp;&nbsp;&nbsp;136836 |
| Enterprise Fleet Financing LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-2, Class A3<br> 0.740%, 05/20/2027 (B) | &nbsp;&nbsp;161540 | &nbsp;&nbsp;&nbsp;&nbsp;159838 |
| &nbsp;&nbsp;&nbsp;Series 2022-1, Class A3<br> 3.270%, 01/20/2028 (B) | &nbsp;&nbsp;328323 | &nbsp;&nbsp;&nbsp;&nbsp;327126 |
| &nbsp;&nbsp;&nbsp;Series 2022-2, Class A3<br> 4.790%, 05/21/2029 (B) | &nbsp;&nbsp;746000 | &nbsp;&nbsp;&nbsp;&nbsp;745959 |
| &nbsp;&nbsp;&nbsp;Series 2022-3, Class A2<br> 4.380%, 07/20/2029 (B) | &nbsp;&nbsp;144958 | &nbsp;&nbsp;&nbsp;&nbsp;144819 |
| &nbsp;&nbsp;&nbsp;Series 2022-4, Class A2<br> 5.760%, 10/22/2029 (B) | &nbsp;&nbsp;&nbsp;&nbsp;80704 | &nbsp;&nbsp;&nbsp;&nbsp;81029 |
| &nbsp;&nbsp;&nbsp;Series 2023-3, Class A2<br> 6.400%, 03/20/2030 (B) | &nbsp;&nbsp;438603 | &nbsp;&nbsp;&nbsp;&nbsp;445189 |
| &nbsp;&nbsp;&nbsp;Series 2024-1, Class A2<br> 5.230%, 03/20/2030 (B) | &nbsp;&nbsp;777491 | &nbsp;&nbsp;&nbsp;&nbsp;783076 |
| &nbsp;&nbsp;&nbsp;Series 2024-4, Class A2<br> 4.690%, 07/20/2027 (B) | &nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;125167 |
| FCCU Auto Receivables Trust<br> Series 2025-1A, Class A2<br> 4.870%, 01/16/2029 (B) | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;250516 |
| Ford Credit Auto Lease Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2023-B, Class A3<br> 5.910%, 10/15/2026 | &nbsp;&nbsp;289504 | &nbsp;&nbsp;&nbsp;&nbsp;290051 |
| &nbsp;&nbsp;&nbsp;Series 2024-B, Class A3<br> 4.990%, 12/15/2027 | 1069000 | 1076643 |
| Ford Credit Auto Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-2, Class A<br> 1.060%, 04/15/2033 (B) | 3000000 | 2969720 |
| &nbsp;&nbsp;&nbsp;Series 2022-C, Class A4<br> 4.590%, 12/15/2027 | &nbsp;&nbsp;325000 | &nbsp;&nbsp;&nbsp;&nbsp;325479 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET-BACKED SECURITIES (continued)** | **ASSET-BACKED SECURITIES (continued)** |  |
| Ford Credit Floorplan Master<br> Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-2, Class A<br> 1.060%, 09/15/2027 | $&nbsp;&nbsp;725000 | $&nbsp;&nbsp;&nbsp;&nbsp;719667 |
| &nbsp;&nbsp;&nbsp;Series 2023-1, Class A2 (30 day Average SOFR + 1.250%)<br> 5.554%, 05/15/2028 (A)(B) | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;503121 |
| GM Financial Automobile Leasing Trust<br> Series 2025-2, Class A2A<br> 4.550%, 07/20/2027 | 1000000 | 1002503 |
| GM Financial Consumer Automobile<br> Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-1, Class A4<br> 1.510%, 04/17/2028 | &nbsp;&nbsp;823000 | &nbsp;&nbsp;&nbsp;&nbsp;811865 |
| &nbsp;&nbsp;&nbsp;Series 2022-2, Class A4<br> 3.250%, 04/17/2028 | &nbsp;&nbsp;708000 | &nbsp;&nbsp;&nbsp;&nbsp;701734 |
| GMF Floorplan Owner Revolving Trust<br> Series 2023-1, Class A1<br> 5.340%, 06/15/2028 (B) | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;504654 |
| GreatAmerica Leasing Receivables<br> Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-1, Class A3<br> 5.080%, 09/15/2026 (B) | 1269519 | 1271559 |
| &nbsp;&nbsp;&nbsp;Series 2022-1, Class A4<br> 5.350%, 07/16/2029 (B) | &nbsp;&nbsp;176000 | &nbsp;&nbsp;&nbsp;&nbsp;177475 |
| &nbsp;&nbsp;&nbsp;Series 2024-1, Class A3<br> 4.980%, 01/18/2028 (B) | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;705363 |
| Harley-Davidson Motorcycle Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-A, Class A4<br> 3.260%, 01/15/2030 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;496180 |
| &nbsp;&nbsp;&nbsp;Series 2023-B, Class A3<br> 5.690%, 08/15/2028 | 1335138 | 1345548 |
| &nbsp;&nbsp;&nbsp;Series 2024-B, Class A3<br> 4.310%, 07/16/2029 | &nbsp;&nbsp;140000 | &nbsp;&nbsp;&nbsp;&nbsp;140248 |
| &nbsp;&nbsp;&nbsp;Series 2025-A, Class A2A<br> 4.710%, 07/17/2028 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;702337 |
| Hyundai Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2023-C, Class A3<br> 5.540%, 10/16/2028 | &nbsp;&nbsp;146000 | &nbsp;&nbsp;&nbsp;&nbsp;147591 |
| &nbsp;&nbsp;&nbsp;Series 2025-B, Class A2A<br> 4.450%, 08/15/2028 | 1000000 | 1001910 |
| John Deere Owner Trust<br> Series 2022-A, Class A4<br> 2.490%, 01/16/2029 | &nbsp;&nbsp;215000 | &nbsp;&nbsp;&nbsp;&nbsp;214021 |
| Kubota Credit Owner Trust<br> Series 2024-1A, Class A3<br> 5.190%, 07/17/2028 (B) | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;708755 |
| LAD Auto Receivables Trust<br> Series 2023-4A, Class A4<br> 6.240%, 06/15/2028 (B) | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;608543 |
| MMAF Equipment Finance LLC<br> Series 2024-A, Class A2<br> 5.200%, 09/13/2027 (B) | &nbsp;&nbsp;467553 | &nbsp;&nbsp;&nbsp;&nbsp;468828 |
| Nextgear Floorplan Master Owner Trust<br> Series 2023-1A, Class A2<br> 5.740%, 03/15/2028 (B) | &nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;453459 |
| Nissan Auto Lease Trust<br> Series 2024-B, Class A3<br> 4.920%, 11/15/2027 | &nbsp;&nbsp;121000 | &nbsp;&nbsp;&nbsp;&nbsp;122300 |
| Nissan Auto Receivables Owner Trust<br> Series 2023-A, Class A3<br> 4.910%, 11/15/2027 | &nbsp;&nbsp;237303 | &nbsp;&nbsp;&nbsp;&nbsp;237795 |
| Santander Bank Auto<br> Credit-Linked Notes |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-C, Class A2<br> 6.024%, 12/15/2032 (B) | &nbsp;&nbsp;659803 | &nbsp;&nbsp;&nbsp;&nbsp;668469 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 111 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Ultra Short Term Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET-BACKED SECURITIES (continued)** | **ASSET-BACKED SECURITIES (continued)** |  |
| Santander Bank Auto<br> Credit-Linked Notes (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2023-B, Class B<br> 5.640%, 12/15/2033 (B) | &nbsp;&nbsp;&nbsp;&nbsp;164894 | $&nbsp;&nbsp;&nbsp;&nbsp;166356 |
| Santander Drive Auto Receivables Trust<br> Series 2022-2, Class C<br> 3.760%, 07/16/2029 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;496537 |
| SBNA Auto Lease Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2023-A, Class A3<br> 6.510%, 04/20/2027 (B) | &nbsp;&nbsp;&nbsp;&nbsp;509452 | &nbsp;&nbsp;&nbsp;&nbsp;511723 |
| &nbsp;&nbsp;&nbsp;Series 2024-A, Class A3<br> 5.390%, 11/20/2026 (B) | &nbsp;&nbsp;&nbsp;&nbsp;763347 | &nbsp;&nbsp;&nbsp;&nbsp;765233 |
| &nbsp;&nbsp;&nbsp;Series 2024-B, Class A3<br> 5.560%, 11/22/2027 (B) | &nbsp;&nbsp;&nbsp;&nbsp;405000 | &nbsp;&nbsp;&nbsp;&nbsp;408362 |
| &nbsp;&nbsp;&nbsp;Series 2024-B, Class A4<br> 5.550%, 12/20/2028 (B) | &nbsp;&nbsp;&nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;355206 |
| &nbsp;&nbsp;&nbsp;Series 2025-A, Class A3<br> 4.830%, 04/20/2028 (B) | &nbsp;&nbsp;&nbsp;&nbsp;110000 | &nbsp;&nbsp;&nbsp;&nbsp;110688 |
| Tesla Auto Lease Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2023-A, Class A4<br> 5.940%, 07/20/2027 (B) | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;1002152 |
| &nbsp;&nbsp;&nbsp;Series 2023-B, Class B<br> 6.570%, 08/20/2027 (B) | &nbsp;&nbsp;&nbsp;&nbsp;620000 | &nbsp;&nbsp;&nbsp;&nbsp;625357 |
| T-Mobile US Trust<br> Series 2022-1A, Class A<br> 4.910%, 05/22/2028 (B) | &nbsp;&nbsp;&nbsp;&nbsp;385326 | &nbsp;&nbsp;&nbsp;&nbsp;385587 |
| Toyota Auto Receivables Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-D, Class A4<br> 1.020%, 03/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;625740 | &nbsp;&nbsp;&nbsp;&nbsp;618429 |
| &nbsp;&nbsp;&nbsp;Series 2022-B, Class A4<br> 3.110%, 08/16/2027 | &nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;694017 |
| Toyota Lease Owner Trust<br> Series 2023-B, Class A4<br> 5.710%, 12/20/2027 (B) | &nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;705480 |
| USB Auto Owner Trust<br> Series 2025-1A, Class A2<br> 4.510%, 06/15/2028 (B) | &nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;701491 |
| Verdant Receivables, LLC<br> Series 2025-1A, Class A2<br> 4.850%, 03/13/2028 (B) | &nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;701922 |
| Wheels Fleet Lease Funding 1 LLC<br> Series 2024-1A, Class A1<br> 5.490%, 02/18/2039 (B) | &nbsp;&nbsp;&nbsp;&nbsp;941878 | &nbsp;&nbsp;&nbsp;&nbsp;951054 |
| World Omni Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-C, Class A4<br> 0.640%, 09/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;600740 | &nbsp;&nbsp;&nbsp;&nbsp;598086 |
| &nbsp;&nbsp;&nbsp;Series 2021-D, Class A4<br> 1.100%, 11/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;693681 | &nbsp;&nbsp;&nbsp;&nbsp;686676 |
| &nbsp;&nbsp;&nbsp;Series 2022-B, Class A4<br> 3.440%, 03/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;545548 |
| TOTAL ASSET-BACKED SECURITIES (Cost $54,288,489) |  | $54699778 |
| **SHORT-TERM INVESTMENTS – 22.3%** | **SHORT-TERM INVESTMENTS – 22.3%** |  |
| **U.S. Government – 21.1%** |  |  |
| U.S. Treasury Bill |  |  |
| &nbsp;&nbsp;&nbsp;3.766%, 12/26/2025 \* | &nbsp;&nbsp;9330000 | &nbsp;&nbsp;&nbsp;9140399 |
| &nbsp;&nbsp;&nbsp;4.055%, 10/16/2025 \* | &nbsp;&nbsp;3221000 | &nbsp;&nbsp;&nbsp;3180868 |
| &nbsp;&nbsp;&nbsp;4.143%, 12/11/2025 \* | 12910000 | 12669756 |
| &nbsp;&nbsp;&nbsp;4.245%, 01/22/2026 \* | 23979000 | 23430934 |
|  |  | 48421957 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **SHORT-TERM INVESTMENTS (continued)** | **SHORT-TERM INVESTMENTS (continued)** |  |
| **Short-term funds – 1.2%** |  |  |
| John Hancock Collateral Trust, 4.2596% (E)(F) | 288727 | $&nbsp;&nbsp;&nbsp;&nbsp;2887963 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $51,332,119) | TOTAL SHORT-TERM INVESTMENTS (Cost $51,332,119) | $&nbsp;&nbsp;&nbsp;51309920 |
| **Total Investments (Ultra Short Term Bond Trust)<br> (Cost $228,341,751) – 99.7%** | **Total Investments (Ultra Short Term Bond Trust)<br> (Cost $228,341,751) – 99.7%** | $**229070211** |
| **Other assets and liabilities, net – 0.3%** |  | &nbsp;&nbsp;&nbsp;&nbsp;**589907** |
| **TOTAL NET ASSETS – 100.0%** |  | $**229660118** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| CME | CME Group Published Rates |
| CMT | Constant Maturity Treasury |
| IBOR | Interbank Offered Rate |
| SOFR | Secured Overnight Financing Rate |
| (A) | Variable rate obligation. The coupon rate shown represents the rate at period end. |
| (B) | This security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. Rule 144A securities amounted to $49,577,834 or 21.6% of the fund's net assets as of 6-30-25. |
| (C) | All or a portion of this security is on loan as of 6-30-25. |
| (D) | Variable or floating rate security, the interest rate of which adjusts periodically based on a weighted average of interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of period end. |
| (E) | The rate shown is the annualized seven-day yield as of 6-30-25. |
| (F) | Investment is an affiliate of the fund, the advisor and/or subadvisor. A portion of this security represents the investment of cash collateral received for securities lending. Market value of this investment amounted to $581,226. |
| \* | Yield represents either the annualized yield at the date of purchase, the stated coupon rate or, for floating rate securities, the rate at period end. |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 112 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

The following portfolios had the following country composition as a percentage of net assets, unless otherwise indicated, on 6-30-25:

#### High Yield Trust

---

| | |
|:---|:---|
| United States | &nbsp;&nbsp;84.2% |
| Canada | &nbsp;&nbsp;5.9% |
| France | &nbsp;&nbsp;2.1% |
| Luxembourg | &nbsp;&nbsp;1.8% |
| United Kingdom | &nbsp;&nbsp;1.8% |
| Japan | &nbsp;&nbsp;1.0% |
| Ireland | &nbsp;&nbsp;1.0% |
| Other countries | &nbsp;&nbsp;2.2% |
| &nbsp;&nbsp;&nbsp;**TOTAL** | &nbsp;&nbsp;**100.0%** |

---

#### Strategic Income Opportunities Trust

---

| | |
|:---|:---|
| United States | &nbsp;&nbsp;63.5% |
| Canada | &nbsp;&nbsp;8.9% |
| United Kingdom | &nbsp;&nbsp;3.2% |
| Australia | &nbsp;&nbsp;3.2% |
| Indonesia | &nbsp;&nbsp;3.0% |
| New Zealand | &nbsp;&nbsp;2.5% |
| Philippines | &nbsp;&nbsp;2.2% |
| Brazil | &nbsp;&nbsp;1.8% |
| Norway | &nbsp;&nbsp;1.7% |
| Supranational | &nbsp;&nbsp;1.6% |
| Other countries | &nbsp;&nbsp;8.4% |
| &nbsp;&nbsp;&nbsp;**TOTAL** | &nbsp;&nbsp;**100.0%** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 113 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Statements of assets and liabilities — June 30, 2025 (unaudited)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Assets** | &nbsp;&nbsp;&nbsp;&nbsp;**Active Bond Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Core Bond Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**High Yield Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Investment Quality Bond Trust** |
| Unaffiliated investments, at value (including securities loaned) | &nbsp;&nbsp;&nbsp;&nbsp;$543772354 | &nbsp;&nbsp;&nbsp;&nbsp;$797745213 | &nbsp;&nbsp;&nbsp;&nbsp;$177090554 | &nbsp;&nbsp;&nbsp;&nbsp;$231781483 |
| Affiliated investments, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6852535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2141845 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9062718 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;661212 |
| Repurchase agreements, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5500000 |
| **Total investments, at value** | &nbsp;&nbsp;&nbsp;&nbsp;**550624889** | &nbsp;&nbsp;&nbsp;&nbsp;**799887058** | &nbsp;&nbsp;&nbsp;&nbsp;**186153272** | &nbsp;&nbsp;&nbsp;&nbsp;**237942695** |
| Unrealized appreciation on forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2223 |
| Cash | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;582156 |
| Foreign currency, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;608539 |
| Dividends and interest receivable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4425984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4846999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3155607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1478585 |
| Receivable for fund shares sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5640871 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1360273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5668848 |
| Receivable for investments sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20006288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14976571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1881681 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1258319 |
| Receivable for delayed delivery securities sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4404416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for securities lending income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6078 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126 |
| Other assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5389 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6914 |
| **Total assets** | &nbsp;&nbsp;&nbsp;&nbsp;**580763939** | &nbsp;&nbsp;&nbsp;&nbsp;**824362839** | &nbsp;&nbsp;&nbsp;&nbsp;**192672110** | &nbsp;&nbsp;&nbsp;&nbsp;**247548405** |
| **Liabilities** |  |  |  |  |
| Unrealized depreciation on forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83526 |
| Payable for centrally cleared swaps | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51257 |
| Payable for futures variation margin | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78604 |
| Due to custodian | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for investments purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22635547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22418485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3849037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2622201 |
| Payable for delayed delivery securities purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23001153 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36843640 |
| Payable for fund shares repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10476 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20142 |
| Payable upon return of securities loaned | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1213009 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2141465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9055684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;661214 |
| Payable to affiliates |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investment management fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7359 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8082 |
| &nbsp;&nbsp;&nbsp;Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;244 |
| Other liabilities and accrued expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68849 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61945 |
| **Total liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23961697** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**47701117** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12968378** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**40430855** |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$556802242** | &nbsp;&nbsp;&nbsp;&nbsp;**$776661722** | &nbsp;&nbsp;&nbsp;&nbsp;**$179703732** | &nbsp;&nbsp;&nbsp;&nbsp;**$207117550** |
| **Net assets consist of** |  |  |  |  |
| Paid-in capital | &nbsp;&nbsp;&nbsp;&nbsp;$619688186 | &nbsp;&nbsp;&nbsp;&nbsp;$895758448 | &nbsp;&nbsp;&nbsp;&nbsp;$254576704 | &nbsp;&nbsp;&nbsp;&nbsp;$234241705 |
| Total distributable earnings (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(62885944) | &nbsp;&nbsp;&nbsp;&nbsp;(119096726) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(74872972) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27124155) |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$556802242** | &nbsp;&nbsp;&nbsp;&nbsp;**$776661722** | &nbsp;&nbsp;&nbsp;&nbsp;**$179703732** | &nbsp;&nbsp;&nbsp;&nbsp;**$207117550** |
| Unaffiliated investments, including repurchase agreements, at cost | &nbsp;&nbsp;&nbsp;&nbsp;$563088678 | &nbsp;&nbsp;&nbsp;&nbsp;$806243135 | &nbsp;&nbsp;&nbsp;&nbsp;$185021763 | &nbsp;&nbsp;&nbsp;&nbsp;$250759069 |
| Affiliated investments, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6852492 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2141857 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9062781 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$661213 |
| Foreign currency, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$76 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$595597 |
| Securities loaned, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1182790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2098168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8864836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$648180 |
| **Net asset value per share** |  |  |  |  |
| The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. | The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. |  |  |  |
| **Series I** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$25159811 | &nbsp;&nbsp;&nbsp;&nbsp;$61321204 | &nbsp;&nbsp;&nbsp;&nbsp;$47535185 | &nbsp;&nbsp;&nbsp;&nbsp;$94259290 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2975342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5335169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9540828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9544753 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8.46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4.98 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9.88 |
| **Series II** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$100500008 | &nbsp;&nbsp;&nbsp;&nbsp;$79803698 | &nbsp;&nbsp;&nbsp;&nbsp;$29163087 | &nbsp;&nbsp;&nbsp;&nbsp;$49861019 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11868337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6960136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5678272 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5050536 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8.47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5.14 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9.87 |
| **Series NAV** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$431142423 | &nbsp;&nbsp;&nbsp;&nbsp;$635536820 | &nbsp;&nbsp;&nbsp;&nbsp;$103005460 | &nbsp;&nbsp;&nbsp;&nbsp;$62997241 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50929615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55591009 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21122251 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6406172 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8.47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4.88 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9.83 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 114 |

---

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[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Statements of assets and liabilities — June 30, 2025 (unaudited)

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| | | | | |
|:---|:---|:---|:---|:---|
| **Assets** | &nbsp;&nbsp;&nbsp;&nbsp;**Money Market Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Opportunistic Fixed Income Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Select Bond Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Short Term Government Income Trust** |
| Unaffiliated investments, at value (including securities loaned) | &nbsp;&nbsp;&nbsp;&nbsp;$2015569115 | &nbsp;&nbsp;&nbsp;&nbsp;$180538069 | &nbsp;&nbsp;&nbsp;&nbsp;$5444921360 | &nbsp;&nbsp;&nbsp;&nbsp;$241125876 |
| Affiliated investments, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3323447 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72823754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;387022 |
| Repurchase agreements, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;419838000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments, at value** | &nbsp;&nbsp;&nbsp;&nbsp;**2435407115** | &nbsp;&nbsp;&nbsp;&nbsp;**183861516** | &nbsp;&nbsp;&nbsp;&nbsp;**5517745114** | &nbsp;&nbsp;&nbsp;&nbsp;**241512898** |
| Swap contracts, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;865608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Unrealized appreciation on forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;711929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for futures variation margin | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54466 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4048 |
| Cash | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Foreign currency, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1954390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Collateral held at broker for futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;970356 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 |
| Collateral segregated at custodian for OTC derivative contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Dividends and interest receivable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11771251 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1594543 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37594386 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1950013 |
| Receivable for fund shares sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;752696 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21746157 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6707 |
| Receivable for investments sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425576 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315005554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023666 |
| Receivable for delayed delivery securities sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8203994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for securities lending income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable from affiliates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Other assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68958 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5143 |
| **Total assets** | &nbsp;&nbsp;&nbsp;&nbsp;**2447266015** | &nbsp;&nbsp;&nbsp;&nbsp;**199508817** | &nbsp;&nbsp;&nbsp;&nbsp;**5892529706** | &nbsp;&nbsp;&nbsp;&nbsp;**245652475** |
| **Liabilities** |  |  |  |  |
| Payable for sale commitments outstanding, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8559664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Unrealized depreciation on forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1536509 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Swap contracts, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1053166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for centrally cleared swaps | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30841 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for futures variation margin | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Foreign capital gains tax payable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for investments purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20096561 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1457630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330561509 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2061562 |
| Payable for delayed delivery securities purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41977976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for fund shares repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16564302 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96575 |
| Payable upon return of securities loaned | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3323392 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9659717 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable to affiliates |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217907 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11636 |
| &nbsp;&nbsp;&nbsp;Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Other liabilities and accrued expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182368 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51108 |
| **Total liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**36944785** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**58080514** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**340857864** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2220881** |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$2410321230** | &nbsp;&nbsp;&nbsp;&nbsp;**$141428303** | &nbsp;&nbsp;&nbsp;&nbsp;**$5551671842** | &nbsp;&nbsp;&nbsp;&nbsp;**$243431594** |
| **Net assets consist of** |  |  |  |  |
| Paid-in capital | &nbsp;&nbsp;&nbsp;&nbsp;$2410326448 | &nbsp;&nbsp;&nbsp;&nbsp;$161244925 | &nbsp;&nbsp;&nbsp;&nbsp;$6419339749 | &nbsp;&nbsp;&nbsp;&nbsp;$271228227 |
| Total distributable earnings (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5218) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19816622) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(867667907) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27796633) |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$2410321230** | &nbsp;&nbsp;&nbsp;&nbsp;**$141428303** | &nbsp;&nbsp;&nbsp;&nbsp;**$5551671842** | &nbsp;&nbsp;&nbsp;&nbsp;**$243431594** |
| Unaffiliated investments, including repurchase agreements, at cost | &nbsp;&nbsp;&nbsp;&nbsp;$2435407115 | &nbsp;&nbsp;&nbsp;&nbsp;$181238935 | &nbsp;&nbsp;&nbsp;&nbsp;$5671181488 | &nbsp;&nbsp;&nbsp;&nbsp;$243784719 |
| Affiliated investments, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3323491 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$72822857 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$387016 |
| Foreign currency, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1947611 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Proceeds received on sale commitments outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8465097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net unamortized upfront payment on OTC swaps | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$209673 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Securities loaned, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3249377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9456572 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Net asset value per share** |  |  |  |  |
| The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. | The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. |  |  |  |
| **Series I** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$1699235745 | &nbsp;&nbsp;&nbsp;&nbsp;$19151516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$131355303 | &nbsp;&nbsp;&nbsp;&nbsp;$23032319 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;1699291850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1692258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10938045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1962711 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$12.01 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.73 |
| **Series II** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$43677064 | &nbsp;&nbsp;&nbsp;&nbsp;$36478997 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$348523279 | &nbsp;&nbsp;&nbsp;&nbsp;$15187018 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43658339 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3288177 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29009638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1295313 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.09 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$12.01 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.72 |
| **Series NAV** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$667408421 | &nbsp;&nbsp;&nbsp;&nbsp;$85797790 | &nbsp;&nbsp;&nbsp;&nbsp;$5071793260 | &nbsp;&nbsp;&nbsp;&nbsp;$205212257 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;667415478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7615685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;422729995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17487838 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$12.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.73 |

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| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 115 |

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[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Statements of assets and liabilities — June 30, 2025 (unaudited)

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| | | | |
|:---|:---|:---|:---|
| **Assets** | &nbsp;&nbsp;&nbsp;&nbsp;**Strategic Income Opportunities Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Total Bond Market Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Ultra Short Term Bond Trust** |
| Unaffiliated investments, at value (including securities loaned) | &nbsp;&nbsp;&nbsp;&nbsp;$379695265 | &nbsp;&nbsp;&nbsp;&nbsp;$1034856481 | &nbsp;&nbsp;&nbsp;&nbsp;$226182248 |
| Affiliated investments, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4281071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9101146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2887963 |
| **Total investments, at value** | &nbsp;&nbsp;&nbsp;&nbsp;**383976336** | &nbsp;&nbsp;&nbsp;&nbsp;**1043957627** | &nbsp;&nbsp;&nbsp;&nbsp;**229070211** |
| Unrealized appreciation on forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;960870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Foreign currency, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;513282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Collateral held at broker for futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1082000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Dividends and interest receivable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4319194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8007802 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1537624 |
| Receivable for fund shares sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;533592 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2827257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;586 |
| Receivable for investments sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;988838 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15016080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for securities lending income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198 |
| Receivable from affiliates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22713 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Other assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8298 |
| **Total assets** | &nbsp;&nbsp;&nbsp;&nbsp;**392416919** | &nbsp;&nbsp;&nbsp;&nbsp;**1069853944** | &nbsp;&nbsp;&nbsp;&nbsp;**230616917** |
| **Liabilities** |  |  |  |
| Unrealized depreciation on forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1196523 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Written options, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67518 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for futures variation margin | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62157 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Foreign capital gains tax payable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for investments purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1354422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21379593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for fund shares repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;397532 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;308931 |
| Payable upon return of securities loaned | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1168595 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;738520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;581328 |
| Payable to affiliates |  |  |  |
| &nbsp;&nbsp;&nbsp;Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41619 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9872 |
| &nbsp;&nbsp;&nbsp;Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;309 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260 |
| Other liabilities and accrued expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56408 |
| **Total liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4364178** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**22264883** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**956799** |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$388052741** | &nbsp;&nbsp;&nbsp;&nbsp;**$1047589061** | &nbsp;&nbsp;&nbsp;&nbsp;**$229660118** |
| **Net assets consist of** |  |  |  |
| Paid-in capital | &nbsp;&nbsp;&nbsp;&nbsp;$401189451 | &nbsp;&nbsp;&nbsp;&nbsp;$1116426247 | &nbsp;&nbsp;&nbsp;&nbsp;$243088005 |
| Total distributable earnings (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13136710) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(68837186) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13427887) |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$388052741** | &nbsp;&nbsp;&nbsp;&nbsp;**$1047589061** | &nbsp;&nbsp;&nbsp;&nbsp;**$229660118** |
| Unaffiliated investments, including repurchase agreements, at cost | &nbsp;&nbsp;&nbsp;&nbsp;$382454541 | &nbsp;&nbsp;&nbsp;&nbsp;$1090361737 | &nbsp;&nbsp;&nbsp;&nbsp;$225453805 |
| Affiliated investments, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4281055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9101042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2887946 |
| Foreign currency, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$505565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Premiums received on written options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$80867 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Securities loaned, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1145087 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$722991 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$568893 |
| **Net asset value per share** |  |  |  |
| The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. | The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. |  |  |
| **Series I** |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$215711035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$337984988 | &nbsp;&nbsp;&nbsp;&nbsp;$10047740 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16373589 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36920518 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;856734 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13.17 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9.15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.73 |
| **Series II** |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$72563333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$43670486 | &nbsp;&nbsp;&nbsp;&nbsp;$178709177 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5497627 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4768027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15259717 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13.20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9.16 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.71 |
| **Series NAV** |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$99778373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$665933587 | &nbsp;&nbsp;&nbsp;&nbsp;$40903201 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7599379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72743251 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3485490 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13.13 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9.15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.74 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 116 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Statements of operations — For the six months ended June 30, 2025 (unaudited)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment income** | &nbsp;&nbsp;&nbsp;**Active Bond Trust** | &nbsp;&nbsp;&nbsp;**Core Bond Trust** | &nbsp;&nbsp;&nbsp;**High Yield Trust** | &nbsp;&nbsp;&nbsp;**Investment Quality Bond Trust** |
| Interest | &nbsp;&nbsp;&nbsp;$13568879 | &nbsp;&nbsp;&nbsp;$17991427 | &nbsp;&nbsp;&nbsp;$6123726 | &nbsp;&nbsp;&nbsp;$4778885 |
| Dividends from affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Dividends from unaffiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;369665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208866 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Securities lending | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36277 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1238 |
| **Total investment income** | &nbsp;&nbsp;&nbsp;&nbsp;**13694751** | &nbsp;&nbsp;&nbsp;&nbsp;**18364296** | &nbsp;&nbsp;&nbsp;&nbsp;**6368869** | &nbsp;&nbsp;&nbsp;&nbsp;**4780123** |
| **Expenses** |  |  |  |  |
| Investment management fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1634319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2221588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;471445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;626584 |
| Distribution and service fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112476 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83906 |
| Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15543 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18109 |
| Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10746 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3106 |
| Custodian fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49217 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25308 |
| Printing and postage | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113514 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9816 |
| Professional fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34443 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44146 |
| Other | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13854 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9280 |
| **Total expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1915698** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2533804** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**735030** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**820255** |
| Less expense reductions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23290) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(32038) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(89780) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8684) |
| **Net expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1892408** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2501766** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**645250** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**811571** |
| **Net investment income** | &nbsp;&nbsp;&nbsp;&nbsp;**11802343** | &nbsp;&nbsp;&nbsp;&nbsp;**15862530** | &nbsp;&nbsp;&nbsp;&nbsp;**5723619** | &nbsp;&nbsp;&nbsp;&nbsp;**3968552** |
| **Realized and unrealized gain (loss)** |  |  |  |  |
| **Net realized gain (loss) on** |  |  |  |  |
| Unaffiliated investments and foreign currency transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3506932) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4162220) | &nbsp;&nbsp;&nbsp;&nbsp;(4210930) | &nbsp;&nbsp;&nbsp;&nbsp;(1769736) |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(452) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(253) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(514) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(31) |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(66021) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(523756) |
| Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(37815) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(272376) |
| Swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34974 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(3392725)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(4162473)** | &nbsp;&nbsp;&nbsp;&nbsp;**(4237145)** | &nbsp;&nbsp;&nbsp;&nbsp;**(2530925)** |
| **Change in net unrealized appreciation (depreciation) of** |  |  |  |  |
| Unaffiliated investments and translation of assets and liabilities in foreign currencies | &nbsp;&nbsp;&nbsp;&nbsp;13369115 | &nbsp;&nbsp;&nbsp;&nbsp;18576327 | &nbsp;&nbsp;&nbsp;&nbsp;5006278 | &nbsp;&nbsp;&nbsp;&nbsp;6539389 |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(599) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(303623) |
| Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30768 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(159704) |
| Swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(46528) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(124375) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**13369102** | &nbsp;&nbsp;&nbsp;&nbsp;**18576338** | &nbsp;&nbsp;&nbsp;&nbsp;**5041245** | &nbsp;&nbsp;&nbsp;&nbsp;**5951687** |
| **Net realized and unrealized gain (loss)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9976377** | &nbsp;&nbsp;&nbsp;&nbsp;**14413865** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**804100** | &nbsp;&nbsp;&nbsp;&nbsp;**3420762** |
| **Increase in net assets from operations** | &nbsp;&nbsp;&nbsp;**$21778720** | &nbsp;&nbsp;&nbsp;**$30276395** | &nbsp;&nbsp;&nbsp;**$6527719** | &nbsp;&nbsp;&nbsp;**$7389314** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 117 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Statements of operations — For the six months ended June 30, 2025 (unaudited)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment income** | &nbsp;&nbsp;&nbsp;**Money Market Trust** | &nbsp;&nbsp;&nbsp;**Opportunistic Fixed Income Trust** | &nbsp;&nbsp;&nbsp;**Select Bond Trust** | &nbsp;&nbsp;&nbsp;**Short Term Government Income Trust** |
| Interest | &nbsp;&nbsp;&nbsp;$50132302 | &nbsp;&nbsp;&nbsp;$4379169 | &nbsp;&nbsp;&nbsp;$128262984 | &nbsp;&nbsp;&nbsp;$3945062 |
| Dividends from unaffiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;351427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Dividends from affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;620329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74259 |
| Securities lending | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21689 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Less foreign taxes withheld | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(942) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investment income** | &nbsp;&nbsp;&nbsp;&nbsp;**50132302** | &nbsp;&nbsp;&nbsp;&nbsp;**4739910** | &nbsp;&nbsp;&nbsp;&nbsp;**128905002** | &nbsp;&nbsp;&nbsp;&nbsp;**4019321** |
| **Expenses** |  |  |  |  |
| Investment management fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3900441 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;449370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16029188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;607844 |
| Distribution and service fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;462604 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24486 |
| Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;486775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19974 |
| Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29692 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78678 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2383 |
| Custodian fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;313386 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15136 |
| Printing and postage | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8876 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8657 |
| Professional fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51274 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37622 |
| Other | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84943 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7899 |
| **Total expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4861469** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**673695** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**17650992** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**724001** |
| Less expense reductions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1184424) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(89486) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(823369) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9610) |
| **Net expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3677045** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**584209** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**16827623** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**714391** |
| **Net investment income** | &nbsp;&nbsp;&nbsp;&nbsp;**46455257** | &nbsp;&nbsp;&nbsp;&nbsp;**4155701** | &nbsp;&nbsp;&nbsp;&nbsp;**112077379** | &nbsp;&nbsp;&nbsp;&nbsp;**3304930** |
| **Realized and unrealized gain (loss)** |  |  |  |  |
| **Net realized gain (loss) on** |  |  |  |  |
| Unaffiliated investments and foreign currency transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2521 | &nbsp;&nbsp;&nbsp;&nbsp;(5186911) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(48899712) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;696335 |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(319) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2721 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1692) |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;972948 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1209682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(49891) |
| Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(3024463) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;1111760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2521** | &nbsp;&nbsp;&nbsp;&nbsp;**(6126985)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(47687309)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**644752** |
| **Change in net unrealized appreciation (depreciation) of** |  |  |  |  |
| Unaffiliated investments and translation of assets and liabilities in foreign currencies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;13033914 | &nbsp;&nbsp;&nbsp;&nbsp;163360300 | &nbsp;&nbsp;&nbsp;&nbsp;2246132 |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(67) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;737 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;467952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58869 |
| Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(1492829) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(1513406) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;**10495564** | &nbsp;&nbsp;&nbsp;&nbsp;**163361037** | &nbsp;&nbsp;&nbsp;&nbsp;**2305010** |
| **Net realized and unrealized gain (loss)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2521** | &nbsp;&nbsp;&nbsp;&nbsp;**4368579** | &nbsp;&nbsp;&nbsp;&nbsp;**115673728** | &nbsp;&nbsp;&nbsp;&nbsp;**2949762** |
| **Increase in net assets from operations** | &nbsp;&nbsp;&nbsp;**$46457778** | &nbsp;&nbsp;&nbsp;**$8524280** | &nbsp;&nbsp;&nbsp;**$227751107** | &nbsp;&nbsp;&nbsp;**$6254692** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 118 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Statements of operations — For the six months ended June 30, 2025 (unaudited)

------

---

| | | | |
|:---|:---|:---|:---|
| **Investment income** | &nbsp;&nbsp;&nbsp;**Strategic Income Opportunities Trust** | &nbsp;&nbsp;&nbsp;**Total Bond Market Trust** | &nbsp;&nbsp;&nbsp;**Ultra Short Term Bond Trust** |
| Interest | &nbsp;&nbsp;&nbsp;$10681234 | &nbsp;&nbsp;&nbsp;$19848382 | &nbsp;&nbsp;&nbsp;$5194501 |
| Dividends from affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152301 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87051 |
| Dividends from unaffiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Securities lending | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3918 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495 |
| Less foreign taxes withheld | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(113765) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investment income** | &nbsp;&nbsp;&nbsp;&nbsp;**10889498** | &nbsp;&nbsp;&nbsp;&nbsp;**20004254** | &nbsp;&nbsp;&nbsp;&nbsp;**5282047** |
| **Expenses** |  |  |  |
| Investment management fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1349155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2302991 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;619556 |
| Distribution and service fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140773 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225173 |
| Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34862 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20043 |
| Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3122 |
| Custodian fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62636 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17884 |
| Printing and postage | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12061 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19856 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10040 |
| Professional fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46086 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31325 |
| Other | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11527 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18802 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7714 |
| **Total expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1663125** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2674950** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**934857** |
| Less expense reductions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18918) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1310336) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(77806) |
| **Net expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1644207** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1364614** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**857051** |
| **Net investment income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9245291** | &nbsp;&nbsp;&nbsp;&nbsp;**18639640** | &nbsp;&nbsp;&nbsp;&nbsp;**4424996** |
| **Realized and unrealized gain (loss)** |  |  |  |
| **Net realized gain (loss) on** |  |  |  |
| Unaffiliated investments and foreign currency transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6194285) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6828353) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146970 |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1487) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;327 |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(319718) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(201950) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(6715222)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(6829840)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**147297** |
| **Change in net unrealized appreciation (depreciation) of** |  |  |  |
| Unaffiliated investments and translation of assets and liabilities in foreign currencies | &nbsp;&nbsp;&nbsp;&nbsp;18976695 | &nbsp;&nbsp;&nbsp;&nbsp;27518083 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23408 |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(380) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14 |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(561450) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5324921) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Written options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**13103293** | &nbsp;&nbsp;&nbsp;&nbsp;**27518344** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23422** |
| **Net realized and unrealized gain (loss)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6388071** | &nbsp;&nbsp;&nbsp;&nbsp;**20688504** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**170719** |
| **Increase in net assets from operations** | &nbsp;&nbsp;&nbsp;**$15633362** | &nbsp;&nbsp;&nbsp;**$39328144** | &nbsp;&nbsp;&nbsp;**$4595715** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 119 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Statements of changes in net assets

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Active Bond Trust** | &nbsp;&nbsp;&nbsp;**Active Bond Trust** | &nbsp;&nbsp;&nbsp;**Core Bond Trust** | &nbsp;&nbsp;&nbsp;**Core Bond Trust** | &nbsp;&nbsp;&nbsp;**High Yield Trust** | &nbsp;&nbsp;&nbsp;**High Yield Trust** |
|  | &nbsp;&nbsp;&nbsp;**Six months ended <br> 6-30-25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** | &nbsp;&nbsp;&nbsp;**Six months ended <br> 6-30-25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** | &nbsp;&nbsp;&nbsp;**Six months ended <br> 6-30-25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** |
| **Increase (decrease) in net assets** |  |  |  |  |  |  |
| **From operations** |  |  |  |  |  |  |
| Net investment income | &nbsp;&nbsp;&nbsp;&nbsp;$11802343 | &nbsp;&nbsp;&nbsp;&nbsp;$22464839 | &nbsp;&nbsp;&nbsp;&nbsp;$15862530 | &nbsp;&nbsp;&nbsp;&nbsp;$31838752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5723619 | &nbsp;&nbsp;&nbsp;&nbsp;$12983631 |
| Net realized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3392725) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11181589) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4162473) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11448641) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4237145) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(898474) |
| Change in net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13369102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;632102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18576338 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8621336) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5041245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3641487 |
| **Increase (decrease) in net assets resulting from operations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**21778720** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11915352** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**30276395** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11768775** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6527719** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15726644** |
| **Distributions to shareholders** |  |  |  |  |  |  |
| From earnings |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(978956) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2269604) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3323747) |
| &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3626047) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2461778) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2058235) |
| &nbsp;&nbsp;&nbsp;Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16137624) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24562479) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7348289) |
| **Total distributions** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(20742627)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(29293861)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(12730271)** |
| **From portfolio share transactions** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Portfolio share transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15253587) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2567750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(49536392) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13009122 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5800333) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4346525) |
| **Total increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6525133** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(6259525)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(19259997)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(4515964)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**727386** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1350152)** |
| **Net assets** |  |  |  |  |  |  |
| Beginning of period | &nbsp;&nbsp;&nbsp;&nbsp;550277109 | &nbsp;&nbsp;&nbsp;&nbsp;556536634 | &nbsp;&nbsp;&nbsp;&nbsp;795921719 | &nbsp;&nbsp;&nbsp;&nbsp;800437683 | &nbsp;&nbsp;&nbsp;&nbsp;178976346 | &nbsp;&nbsp;&nbsp;&nbsp;180326498 |
| **End of period** | &nbsp;&nbsp;&nbsp;**$556802242** | &nbsp;&nbsp;&nbsp;**$550277109** | &nbsp;&nbsp;&nbsp;**$776661722** | &nbsp;&nbsp;&nbsp;**$795921719** | &nbsp;&nbsp;&nbsp;**$179703732** | &nbsp;&nbsp;&nbsp;**$178976346** |

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Investment Quality Bond Trust** | &nbsp;&nbsp;&nbsp;**Investment Quality Bond Trust** | &nbsp;&nbsp;&nbsp;**Money Market Trust** | &nbsp;&nbsp;&nbsp;**Money Market Trust** | &nbsp;&nbsp;&nbsp;**Opportunistic Fixed Income Trust** | &nbsp;&nbsp;&nbsp;**Opportunistic Fixed Income Trust** |
|  | &nbsp;&nbsp;&nbsp;**Six months ended <br> 6-30-25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** | &nbsp;&nbsp;&nbsp;**Six months ended <br> 6-30-25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** | &nbsp;&nbsp;&nbsp;**Six months ended <br> 6-30-25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** |
| **Increase (decrease) in net assets** |  |  |  |  |  |  |
| **From operations** |  |  |  |  |  |  |
| Net investment income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3968552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8300858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$46455257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$110079884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4155701 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8168525 |
| Net realized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2530925) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4139878) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12706) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6126985) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1283638) |
| Change in net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5951687 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129818 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10495564 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7243766) |
| **Increase (decrease) in net assets resulting from operations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7389314** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4290798** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**46457778** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**110067178** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8524280** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(358879)** |
| **Distributions to shareholders** |  |  |  |  |  |  |
| From earnings |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3328599) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(34057137) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(83631796) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(630357) |
| &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1608321) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(878553) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2434385) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1231351) |
| &nbsp;&nbsp;&nbsp;Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2402374) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11519568) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24013694) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2760700) |
| **Total distributions** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(7339294)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(46455258)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(110079875)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(4622408)** |
| **From portfolio share transactions** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Portfolio share transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17341480) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5677669 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163831129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(41015756) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5620488) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17637333) |
| **Total increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(9952166)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2629173** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**163833649** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(41028453)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2903792** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(22618620)** |
| **Net assets** |  |  |  |  |  |  |
| Beginning of period | &nbsp;&nbsp;&nbsp;&nbsp;217069716 | &nbsp;&nbsp;&nbsp;&nbsp;214440543 | &nbsp;&nbsp;&nbsp;&nbsp;2246487581 | &nbsp;&nbsp;&nbsp;&nbsp;2287516034 | &nbsp;&nbsp;&nbsp;&nbsp;138524511 | &nbsp;&nbsp;&nbsp;&nbsp;161143131 |
| **End of period** | &nbsp;&nbsp;&nbsp;**$207117550** | &nbsp;&nbsp;&nbsp;**$217069716** | &nbsp;&nbsp;&nbsp;**$2410321230** | &nbsp;&nbsp;&nbsp;**$2246487581** | &nbsp;&nbsp;&nbsp;**$141428303** | &nbsp;&nbsp;&nbsp;**$138524511** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 120 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Statements of changes in net assets

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Select Bond Trust** | &nbsp;&nbsp;&nbsp;**Select Bond Trust** | &nbsp;&nbsp;&nbsp;**Short Term Government Income Trust** | &nbsp;&nbsp;&nbsp;**Short Term Government Income Trust** | &nbsp;&nbsp;&nbsp;**Strategic Income Opportunities Trust** | &nbsp;&nbsp;&nbsp;**Strategic Income Opportunities Trust** |
|  | &nbsp;&nbsp;&nbsp;**Six months ended <br> 6-30-25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** | &nbsp;&nbsp;&nbsp;**Six months ended <br> 6-30-25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** | &nbsp;&nbsp;&nbsp;**Six months ended <br> 6-30-25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** |
| **Increase (decrease) in net assets** |  |  |  |  |  |  |
| **From operations** |  |  |  |  |  |  |
| Net investment income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$112077379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$220760724 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3304930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4267207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9245291 | &nbsp;&nbsp;&nbsp;&nbsp;$16812818 |
| Net realized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(47687309) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(48201062) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;644752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3177579) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6715222) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7907520) |
| Change in net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163361037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(60542623) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2305010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3394144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13103293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3246219 |
| **Increase (decrease) in net assets resulting from operations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**227751107** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**112017039** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6254692** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4483772** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15633362** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12151517** |
| **Distributions to shareholders** |  |  |  |  |  |  |
| From earnings |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4851070) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(192105) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6080285) |
| &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12063002) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(109272) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1629545) |
| &nbsp;&nbsp;&nbsp;Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(195538292) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1053611) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3769843) |
| **Total distributions** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(212452364)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1354988)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(11479673)** |
| **From portfolio share transactions** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Portfolio share transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(544246783) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(48166703) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77268069 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13167102) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(55527862) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41819289 |
| **Total increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(316495676)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(148602028)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**83522761** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(10038318)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(39894500)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**42491133** |
| **Net assets** |  |  |  |  |  |  |
| Beginning of period | &nbsp;&nbsp;&nbsp;&nbsp;5868167518 | &nbsp;&nbsp;&nbsp;&nbsp;6016769546 | &nbsp;&nbsp;&nbsp;&nbsp;159908833 | &nbsp;&nbsp;&nbsp;&nbsp;169947151 | &nbsp;&nbsp;&nbsp;&nbsp;427947241 | &nbsp;&nbsp;&nbsp;&nbsp;385456108 |
| **End of period** | &nbsp;&nbsp;&nbsp;**$5551671842** | &nbsp;&nbsp;&nbsp;**$5868167518** | &nbsp;&nbsp;&nbsp;**$243431594** | &nbsp;&nbsp;&nbsp;**$159908833** | &nbsp;&nbsp;&nbsp;**$388052741** | &nbsp;&nbsp;&nbsp;**$427947241** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Total Bond Market Trust** | &nbsp;&nbsp;&nbsp;**Total Bond Market Trust** | &nbsp;&nbsp;&nbsp;**Ultra Short Term Bond Trust** | &nbsp;&nbsp;&nbsp;**Ultra Short Term Bond Trust** |
|  | &nbsp;&nbsp;&nbsp;**Six months ended <br> 6-30-25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** | &nbsp;&nbsp;&nbsp;**Six months ended <br> 6-30-25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** |
| **Increase (decrease) in net assets** |  |  |  |  |
| **From operations** |  |  |  |  |
| Net investment income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$18639640 | &nbsp;&nbsp;&nbsp;&nbsp;$33194433 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4424996 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9588933 |
| Net realized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6829840) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9369221) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13705 |
| Change in net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27518344 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14785117) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1515271 |
| **Increase (decrease) in net assets resulting from operations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**39328144** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9040095** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4595715** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11117909** |
| **Distributions to shareholders** |  |  |  |  |
| From earnings |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9635932) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(151410) |
| &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1183714) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2607674) |
| &nbsp;&nbsp;&nbsp;Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19167367) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(589772) |
| **Total distributions** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(29987013)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(3348856)** |
| **From portfolio share transactions** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Portfolio share transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8410239 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80303024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;512951 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(33221178) |
| **Total increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**47738383** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**59356106** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5108666** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(25452125)** |
| **Net assets** |  |  |  |  |
| Beginning of period | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;999850678 | &nbsp;&nbsp;&nbsp;&nbsp;940494572 | &nbsp;&nbsp;&nbsp;&nbsp;224551452 | &nbsp;&nbsp;&nbsp;&nbsp;250003577 |
| **End of period** | &nbsp;&nbsp;&nbsp;**$1047589061** | &nbsp;&nbsp;&nbsp;**$999850678** | &nbsp;&nbsp;&nbsp;**$229660118** | &nbsp;&nbsp;&nbsp;**$224551452** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 121 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

------

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** |  | **Ratios and supplemental data** | **Ratios and supplemental data** | **Ratios and supplemental data** |
|  |  | **Income (loss) from investment operations** | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period ($) | Net<br> investment<br> income<br> (loss) ($)<sup>1</sup> | Net realized and<br> unrealized<br> gain (loss)<br> on investments ($) | Total from<br> investment<br> operations ($) | From net<br> investment<br> income ($) | From net<br> realized<br> gain ($) | Total<br> distributions ($) | Net asset<br> value,<br> end of<br> period ($) | Total<br> return<br> (%)<sup>2</sup> | Expenses<br> before<br> reductions<br> (%) | Expenses<br> including<br> reductions<br> (%) | Net<br> investment<br> income<br> (loss) (%) | Net<br> assets,<br> end of<br> period<br> (in millions) | Portfolio<br> turnover<br> (%) |
| **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 06-30-2025<sup>3</sup> | &nbsp;&nbsp;8.13 | 0.18 | &nbsp;&nbsp;0.15 | &nbsp;&nbsp;0.33 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;8.46 | &nbsp;&nbsp;&nbsp;4.06<sup>4</sup> | 0.71<sup>5</sup> | 0.70<sup>5</sup> | 4.33<sup>5</sup> | &nbsp;&nbsp;25 | &nbsp;&nbsp;42 |
| 12-31-2024 | &nbsp;&nbsp;8.26 | 0.34 | (0.15) | &nbsp;&nbsp;0.19 | (0.32) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.32) | &nbsp;&nbsp;8.13 | &nbsp;&nbsp;&nbsp;2.25 | 0.71 | 0.70 | 4.07 | &nbsp;&nbsp;26 | 111 |
| 12-31-2023 | &nbsp;&nbsp;8.06 | 0.30 | &nbsp;&nbsp;0.19 | &nbsp;&nbsp;0.49 | (0.29) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.29) | &nbsp;&nbsp;8.26 | &nbsp;&nbsp;&nbsp;6.43 | 0.71 | 0.71 | 3.68 | &nbsp;&nbsp;27 | &nbsp;&nbsp;85 |
| 12-31-2022 | &nbsp;&nbsp;9.79 | 0.27 | (1.64) | (1.37) | (0.30) | (0.06) | (0.36) | &nbsp;&nbsp;8.06 | (13.85) | 0.71 | 0.70 | 3.05 | &nbsp;&nbsp;26 | &nbsp;&nbsp;91 |
| 12-31-2021 | 10.34 | 0.24 | (0.30) | (0.06) | (0.33) | (0.16) | (0.49) | &nbsp;&nbsp;9.79 | &nbsp;&nbsp;(0.57) | 0.70 | 0.69 | 2.35 | &nbsp;&nbsp;34 | &nbsp;&nbsp;95 |
| 12-31-2020 | &nbsp;&nbsp;9.79 | 0.26 | &nbsp;&nbsp;0.60 | &nbsp;&nbsp;0.86 | (0.31) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.31) | 10.34 | &nbsp;&nbsp;&nbsp;8.79 | 0.70 | 0.70 | 2.56 | &nbsp;&nbsp;36 | &nbsp;&nbsp;98 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 06-30-2025<sup>3</sup> | &nbsp;&nbsp;8.15 | 0.17 | &nbsp;&nbsp;0.15 | &nbsp;&nbsp;0.32 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;8.47 | &nbsp;&nbsp;&nbsp;3.93<sup>4</sup> | 0.91<sup>5</sup> | 0.90<sup>5</sup> | 4.13<sup>5</sup> | 101 | &nbsp;&nbsp;42 |
| 12-31-2024 | &nbsp;&nbsp;8.28 | 0.32 | (0.15) | &nbsp;&nbsp;0.17 | (0.30) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.30) | &nbsp;&nbsp;8.15 | &nbsp;&nbsp;&nbsp;2.06 | 0.91 | 0.90 | 3.87 | 100 | 111 |
| 12-31-2023 | &nbsp;&nbsp;8.08 | 0.29 | &nbsp;&nbsp;0.19 | &nbsp;&nbsp;0.48 | (0.28) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.28) | &nbsp;&nbsp;8.28 | &nbsp;&nbsp;&nbsp;6.21 | 0.91 | 0.91 | 3.48 | 105 | &nbsp;&nbsp;85 |
| 12-31-2022 | &nbsp;&nbsp;9.81 | 0.25 | (1.64) | (1.39) | (0.28) | (0.06) | (0.34) | &nbsp;&nbsp;8.08 | (14.02) | 0.91 | 0.90 | 2.83 | 103 | &nbsp;&nbsp;91 |
| 12-31-2021 | 10.36 | 0.22 | (0.30) | (0.08) | (0.31) | (0.16) | (0.47) | &nbsp;&nbsp;9.81 | &nbsp;&nbsp;(0.77) | 0.90 | 0.89 | 2.15 | 144 | &nbsp;&nbsp;95 |
| 12-31-2020 | &nbsp;&nbsp;9.81 | 0.24 | &nbsp;&nbsp;0.60 | &nbsp;&nbsp;0.84 | (0.29) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.29) | 10.36 | &nbsp;&nbsp;&nbsp;8.57 | 0.90 | 0.90 | 2.36 | 156 | &nbsp;&nbsp;98 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 06-30-2025<sup>3</sup> | &nbsp;&nbsp;8.13 | 0.18 | &nbsp;&nbsp;0.16 | &nbsp;&nbsp;0.34 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;8.47 | &nbsp;&nbsp;&nbsp;4.18<sup>4</sup> | 0.66<sup>5</sup> | 0.65<sup>5</sup> | 4.38<sup>5</sup> | 431 | &nbsp;&nbsp;42 |
| 12-31-2024 | &nbsp;&nbsp;8.27 | 0.34 | (0.16) | &nbsp;&nbsp;0.18 | (0.32) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.32) | &nbsp;&nbsp;8.13 | &nbsp;&nbsp;&nbsp;2.16 | 0.66 | 0.65 | 4.12 | 425 | 111 |
| 12-31-2023 | &nbsp;&nbsp;8.07 | 0.31 | &nbsp;&nbsp;0.19 | &nbsp;&nbsp;0.50 | (0.30) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.30) | &nbsp;&nbsp;8.27 | &nbsp;&nbsp;&nbsp;6.48 | 0.66 | 0.66 | 3.73 | 425 | &nbsp;&nbsp;85 |
| 12-31-2022 | &nbsp;&nbsp;9.80 | 0.27 | (1.63) | (1.36) | (0.31) | (0.06) | (0.37) | &nbsp;&nbsp;8.07 | (13.78) | 0.66 | 0.65 | 3.10 | 420 | &nbsp;&nbsp;91 |
| 12-31-2021 | 10.34 | 0.24 | (0.28) | (0.04) | (0.34) | (0.16) | (0.50) | &nbsp;&nbsp;9.80 | &nbsp;&nbsp;(0.42) | 0.65 | 0.64 | 2.40 | 549 | &nbsp;&nbsp;95 |
| 12-31-2020 | &nbsp;&nbsp;9.80 | 0.27 | &nbsp;&nbsp;0.58 | &nbsp;&nbsp;0.85 | (0.31) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.31) | 10.34 | &nbsp;&nbsp;&nbsp;8.73 | 0.65 | 0.65 | 2.61 | 560 | &nbsp;&nbsp;98 |
| **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** |
| **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 06-30-2025<sup>3</sup> | 11.06 | 0.23 | &nbsp;&nbsp;0.20 | &nbsp;&nbsp;0.43 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 11.49 | &nbsp;&nbsp;&nbsp;3.89<sup>4</sup> | 0.68<sup>5</sup> | 0.67<sup>5</sup> | 4.10<sup>5</sup> | &nbsp;&nbsp;61 | 124 |
| 12-31-2024 | 11.31 | 0.45 | (0.28) | &nbsp;&nbsp;0.17 | (0.42) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.42) | 11.06 | &nbsp;&nbsp;&nbsp;1.48 | 0.68 | 0.67 | 3.98 | &nbsp;&nbsp;61 | 233 |
| 12-31-2023 | 11.04 | 0.39 | &nbsp;&nbsp;0.22 | &nbsp;&nbsp;0.61 | (0.34) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.34) | 11.31 | &nbsp;&nbsp;&nbsp;5.80 | 0.69 | 0.68 | 3.49 | &nbsp;&nbsp;63 | 258 |
| 12-31-2022 | 13.10 | 0.23 | (2.03) | (1.80) | (0.26) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.26) | 11.04 | (13.67) | 0.68 | 0.68 | 1.95 | &nbsp;&nbsp;64 | 275 |
| 12-31-2021 | 14.23 | 0.11 | (0.39) | (0.28) | (0.26) | (0.59) | (0.85) | 13.10 | &nbsp;&nbsp;(1.96) | 0.67 | 0.66 | 0.82 | &nbsp;&nbsp;84 | 269 |
| 12-31-2020 | 13.41 | 0.20 | &nbsp;&nbsp;0.95 | &nbsp;&nbsp;1.15 | (0.33) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.33) | 14.23 | &nbsp;&nbsp;&nbsp;8.62 | 0.67 | 0.66 | 1.40 | &nbsp;&nbsp;93 | 354 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 06-30-2025<sup>3</sup> | 11.04 | 0.22 | &nbsp;&nbsp;0.21 | &nbsp;&nbsp;0.43 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 11.47 | &nbsp;&nbsp;&nbsp;3.89<sup>4</sup> | 0.88<sup>5</sup> | 0.87<sup>5</sup> | 3.90<sup>5</sup> | &nbsp;&nbsp;80 | 124 |
| 12-31-2024 | 11.30 | 0.43 | (0.29) | &nbsp;&nbsp;0.14 | (0.40) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.40) | 11.04 | &nbsp;&nbsp;&nbsp;1.22 | 0.88 | 0.87 | 3.78 | &nbsp;&nbsp;77 | 233 |
| 12-31-2023 | 11.03 | 0.37 | &nbsp;&nbsp;0.22 | &nbsp;&nbsp;0.59 | (0.32) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.32) | 11.30 | &nbsp;&nbsp;&nbsp;5.61 | 0.89 | 0.88 | 3.30 | &nbsp;&nbsp;69 | 258 |
| 12-31-2022 | 13.08 | 0.21 | (2.02) | (1.81) | (0.24) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.24) | 11.03 | (13.81) | 0.88 | 0.88 | 1.76 | &nbsp;&nbsp;64 | 275 |
| 12-31-2021 | 14.22 | 0.09 | (0.41) | (0.32) | (0.23) | (0.59) | (0.82) | 13.08 | &nbsp;&nbsp;(2.23) | 0.87 | 0.86 | 0.62 | &nbsp;&nbsp;79 | 269 |
| 12-31-2020 | 13.39 | 0.17 | &nbsp;&nbsp;0.97 | &nbsp;&nbsp;1.14 | (0.31) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.31) | 14.22 | &nbsp;&nbsp;&nbsp;8.50 | 0.87 | 0.86 | 1.20 | &nbsp;&nbsp;85 | 354 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 06-30-2025<sup>3</sup> | 11.00 | 0.23 | &nbsp;&nbsp;0.20 | &nbsp;&nbsp;0.43 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 11.43 | &nbsp;&nbsp;&nbsp;3.91<sup>4</sup> | 0.63<sup>5</sup> | 0.62<sup>5</sup> | 4.15<sup>5</sup> | 636 | 124 |
| 12-31-2024 | 11.25 | 0.45 | (0.27) | &nbsp;&nbsp;0.18 | (0.43) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.43) | 11.00 | &nbsp;&nbsp;&nbsp;1.54 | 0.63 | 0.62 | 4.03 | 657 | 233 |
| 12-31-2023 | 10.98 | 0.39 | &nbsp;&nbsp;0.23 | &nbsp;&nbsp;0.62 | (0.35) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.35) | 11.25 | &nbsp;&nbsp;&nbsp;5.89 | 0.64 | 0.63 | 3.55 | 669 | 258 |
| 12-31-2022 | 13.03 | 0.24 | (2.02) | (1.78) | (0.27) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.27) | 10.98 | (13.62) | 0.63 | 0.63 | 2.00 | 658 | 275 |
| 12-31-2021 | 14.17 | 0.12 | (0.41) | (0.29) | (0.26) | (0.59) | (0.85) | 13.03 | &nbsp;&nbsp;(1.99) | 0.62 | 0.61 | 0.87 | 836 | 269 |
| 12-31-2020 | 13.34 | 0.20 | &nbsp;&nbsp;0.97 | &nbsp;&nbsp;1.17 | (0.34) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.34) | 14.17 | &nbsp;&nbsp;&nbsp;8.80 | 0.62 | 0.61 | 1.46 | 867 | 354 |
| **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** |

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|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 122 |

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[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

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| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period |  | Ratios and supplemental data | Ratios and supplemental data | Ratios and supplemental data |
|  |  | **Income (loss) from investment operations** | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period ($) | Net<br> investment<br> income<br> (loss) ($)<sup>1</sup> | Net realized and<br> unrealized<br> gain (loss)<br> on investments ($) | Total from<br> investment<br> operations ($) | From net<br> investment<br> income ($) | From net<br> realized<br> gain ($) | Total<br> distributions ($) | Net asset<br> value,<br> end of<br> period ($) | Total<br> return<br> (%)<sup>2</sup> | Expenses<br> before<br> reductions<br> (%) | Expenses<br> including<br> reductions<br> (%) | Net<br> investment<br> income<br> (loss) (%) | Net<br> assets,<br> end of<br> period<br> (in millions) | Portfolio<br> turnover<br> (%) |
| **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 06-30-2025<sup>3</sup> | &nbsp;&nbsp;4.80 | 0.16 | &nbsp;&nbsp;0.02 | &nbsp;&nbsp;0.18 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;4.98 | &nbsp;&nbsp;&nbsp;3.75<sup>4</sup> | 0.77<sup>5</sup> | 0.73<sup>5</sup> | 6.52<sup>5</sup> | &nbsp;&nbsp;48 | 115<sup>6</sup> |
| 12-31-2024 | &nbsp;&nbsp;4.73 | 0.35 | &nbsp;&nbsp;0.07 | &nbsp;&nbsp;0.42 | (0.35) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.35) | &nbsp;&nbsp;4.80 | &nbsp;&nbsp;&nbsp;8.95 | 0.88 | 0.87 | 7.12 | &nbsp;&nbsp;48 | &nbsp;&nbsp;38 |
| 12-31-2023 | &nbsp;&nbsp;4.30 | 0.33 | &nbsp;&nbsp;0.22 | &nbsp;&nbsp;0.55 | (0.12) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.12) | &nbsp;&nbsp;4.73 | &nbsp;&nbsp;13.05 | 0.87 | 0.86 | 7.24 | &nbsp;&nbsp;50 | &nbsp;&nbsp;38 |
| 12-31-2022 | &nbsp;&nbsp;5.30 | 0.29 | (1.00) | (0.71) | (0.29) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.29) | &nbsp;&nbsp;4.30 | (13.25) | 0.85 | 0.84 | 6.03 | &nbsp;&nbsp;50 | &nbsp;&nbsp;32 |
| 12-31-2021 | &nbsp;&nbsp;5.27 | 0.27 | &nbsp;&nbsp;0.04 | &nbsp;&nbsp;0.31 | (0.28) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.28) | &nbsp;&nbsp;5.30 | &nbsp;&nbsp;&nbsp;5.82 | 0.83 | 0.82 | 4.99 | &nbsp;&nbsp;64 | &nbsp;&nbsp;76 |
| 12-31-2020 | &nbsp;&nbsp;5.31 | 0.28 | &nbsp;&nbsp;0.01 | &nbsp;&nbsp;0.29 | (0.33) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.33) | &nbsp;&nbsp;5.27 | &nbsp;&nbsp;&nbsp;5.81 | 0.85 | 0.85 | 5.47 | &nbsp;&nbsp;65 | &nbsp;&nbsp;96 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 06-30-2025<sup>3</sup> | &nbsp;&nbsp;4.95 | 0.16 | &nbsp;&nbsp;0.03 | &nbsp;&nbsp;0.19 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;5.14 | &nbsp;&nbsp;&nbsp;3.84<sup>4</sup> | 0.97<sup>5</sup> | 0.93<sup>5</sup> | 6.31<sup>5</sup> | &nbsp;&nbsp;29 | 115<sup>6</sup> |
| 12-31-2024 | &nbsp;&nbsp;4.87 | 0.35 | &nbsp;&nbsp;0.07 | &nbsp;&nbsp;0.42 | (0.34) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.34) | &nbsp;&nbsp;4.95 | &nbsp;&nbsp;&nbsp;8.72 | 1.08 | 1.07 | 6.92 | &nbsp;&nbsp;31 | &nbsp;&nbsp;38 |
| 12-31-2023 | &nbsp;&nbsp;4.43 | 0.33 | &nbsp;&nbsp;0.22 | &nbsp;&nbsp;0.55 | (0.11) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.11) | &nbsp;&nbsp;4.87 | &nbsp;&nbsp;12.70 | 1.07 | 1.06 | 7.04 | &nbsp;&nbsp;32 | &nbsp;&nbsp;38 |
| 12-31-2022 | &nbsp;&nbsp;5.45 | 0.28 | (1.02) | (0.74) | (0.28) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.28) | &nbsp;&nbsp;4.43 | (13.45) | 1.05 | 1.04 | 5.80 | &nbsp;&nbsp;33 | &nbsp;&nbsp;32 |
| 12-31-2021 | &nbsp;&nbsp;5.41 | 0.27 | &nbsp;&nbsp;0.03 | &nbsp;&nbsp;0.30 | (0.26) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.26) | &nbsp;&nbsp;5.45 | &nbsp;&nbsp;&nbsp;5.67 | 1.03 | 1.02 | 4.79 | &nbsp;&nbsp;48 | &nbsp;&nbsp;76 |
| 12-31-2020 | &nbsp;&nbsp;5.44 | 0.28 | &nbsp;&nbsp;0.01 | &nbsp;&nbsp;0.29 | (0.32) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.32) | &nbsp;&nbsp;5.41 | &nbsp;&nbsp;&nbsp;5.67 | 1.05 | 1.05 | 5.27 | &nbsp;&nbsp;47 | &nbsp;&nbsp;96 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 06-30-2025<sup>3</sup> | &nbsp;&nbsp;4.70 | 0.15 | &nbsp;&nbsp;0.03 | &nbsp;&nbsp;0.18 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;4.88 | &nbsp;&nbsp;&nbsp;3.83<sup>4</sup> | 0.72<sup>5</sup> | 0.68<sup>5</sup> | 6.57<sup>5</sup> | 103 | 115<sup>6</sup> |
| 12-31-2024 | &nbsp;&nbsp;4.63 | 0.34 | &nbsp;&nbsp;0.08 | &nbsp;&nbsp;0.42 | (0.35) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.35) | &nbsp;&nbsp;4.70 | &nbsp;&nbsp;&nbsp;9.19 | 0.83 | 0.82 | 7.17 | 101 | &nbsp;&nbsp;38 |
| 12-31-2023 | &nbsp;&nbsp;4.22 | 0.32 | &nbsp;&nbsp;0.21 | &nbsp;&nbsp;0.53 | (0.12) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.12) | &nbsp;&nbsp;4.63 | &nbsp;&nbsp;12.87 | 0.82 | 0.81 | 7.30 | &nbsp;&nbsp;98 | &nbsp;&nbsp;38 |
| 12-31-2022 | &nbsp;&nbsp;5.20 | 0.28 | (0.97) | (0.69) | (0.29) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.29) | &nbsp;&nbsp;4.22 | (13.07) | 0.80 | 0.79 | 6.12 | &nbsp;&nbsp;85 | &nbsp;&nbsp;32 |
| 12-31-2021 | &nbsp;&nbsp;5.18 | 0.27 | &nbsp;&nbsp;0.03 | &nbsp;&nbsp;0.30 | (0.28) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.28) | &nbsp;&nbsp;5.20 | &nbsp;&nbsp;&nbsp;5.78 | 0.78 | 0.77 | 5.05 | &nbsp;&nbsp;96 | &nbsp;&nbsp;76 |
| 12-31-2020 | &nbsp;&nbsp;5.23 | 0.28 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>7</sup> | &nbsp;&nbsp;0.28 | (0.33) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.33) | &nbsp;&nbsp;5.18 | &nbsp;&nbsp;&nbsp;5.77 | 0.80 | 0.80 | 5.52 | &nbsp;&nbsp;84 | &nbsp;&nbsp;96 |
| **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized. 6. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. 7. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized. 6. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. 7. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized. 6. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. 7. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized. 6. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. 7. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized. 6. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. 7. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized. 6. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. 7. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized. 6. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. 7. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized. 6. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. 7. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized. 6. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. 7. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized. 6. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. 7. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized. 6. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. 7. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized. 6. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. 7. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized. 6. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. 7. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized. 6. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. 7. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized. 6. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. 7. Less than $0.005 per share.** |
| **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 06-30-2025<sup>3</sup> | &nbsp;&nbsp;9.53 | 0.18 | &nbsp;&nbsp;0.17 | &nbsp;&nbsp;0.35 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;9.88 | &nbsp;&nbsp;&nbsp;3.57<sup>4</sup> | 0.76<sup>5</sup> | 0.75<sup>5</sup> | 3.83<sup>5</sup> | &nbsp;&nbsp;94 | &nbsp;&nbsp;18 |
| 12-31-2024 | &nbsp;&nbsp;9.67 | 0.38 | (0.18) | &nbsp;&nbsp;0.20 | (0.34) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.34) | &nbsp;&nbsp;9.53 | &nbsp;&nbsp;&nbsp;2.00 | 0.75 | 0.75 | 3.87 | &nbsp;&nbsp;97 | &nbsp;&nbsp;44 |
| 12-31-2023 | &nbsp;&nbsp;9.22 | 0.33 | &nbsp;&nbsp;0.27 | &nbsp;&nbsp;0.60 | (0.15) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.15) | &nbsp;&nbsp;9.67 | &nbsp;&nbsp;&nbsp;6.49 | 0.77 | 0.76 | 3.52 | 101 | &nbsp;&nbsp;41 |
| 12-31-2022 | 11.50 | 0.27 | (2.01) | (1.74) | (0.33) | (0.21) | (0.54) | &nbsp;&nbsp;9.22 | (14.88) | 0.76 | 0.75 | 2.62 | 100 | &nbsp;&nbsp;39 |
| 12-31-2021 | 12.17 | 0.22 | (0.37) | (0.15) | (0.25) | (0.27) | (0.52) | 11.50 | &nbsp;&nbsp;(1.26) | 0.74 | 0.73 | 1.86 | 134 | &nbsp;&nbsp;37 |
| 12-31-2020 | 11.39 | 0.26 | &nbsp;&nbsp;0.80 | &nbsp;&nbsp;1.06 | (0.27) | (0.01) | (0.28) | 12.17 | &nbsp;&nbsp;&nbsp;9.37 | 0.75 | 0.74 | 2.15 | 142 | &nbsp;&nbsp;51 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 06-30-2025<sup>3</sup> | &nbsp;&nbsp;9.54 | 0.17 | &nbsp;&nbsp;0.16 | &nbsp;&nbsp;0.33 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;9.87 | &nbsp;&nbsp;&nbsp;3.46<sup>4</sup> | 0.96<sup>5</sup> | 0.95<sup>5</sup> | 3.63<sup>5</sup> | &nbsp;&nbsp;50 | &nbsp;&nbsp;18 |
| 12-31-2024 | &nbsp;&nbsp;9.68 | 0.36 | (0.18) | &nbsp;&nbsp;0.18 | (0.32) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.32) | &nbsp;&nbsp;9.54 | &nbsp;&nbsp;&nbsp;1.82 | 0.95 | 0.95 | 3.66 | &nbsp;&nbsp;50 | &nbsp;&nbsp;44 |
| 12-31-2023 | &nbsp;&nbsp;9.23 | 0.31 | &nbsp;&nbsp;0.27 | &nbsp;&nbsp;0.58 | (0.13) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.13) | &nbsp;&nbsp;9.68 | &nbsp;&nbsp;&nbsp;6.28 | 0.97 | 0.96 | 3.32 | &nbsp;&nbsp;51 | &nbsp;&nbsp;41 |
| 12-31-2022 | 11.50 | 0.25 | (2.00) | (1.75) | (0.31) | (0.21) | (0.52) | &nbsp;&nbsp;9.23 | (15.06) | 0.96 | 0.95 | 2.42 | &nbsp;&nbsp;51 | &nbsp;&nbsp;39 |
| 12-31-2021 | 12.18 | 0.20 | (0.39) | (0.19) | (0.22) | (0.27) | (0.49) | 11.50 | &nbsp;&nbsp;(1.45) | 0.94 | 0.93 | 1.66 | &nbsp;&nbsp;71 | &nbsp;&nbsp;37 |
| 12-31-2020 | 11.40 | 0.23 | &nbsp;&nbsp;0.81 | &nbsp;&nbsp;1.04 | (0.25) | (0.01) | (0.26) | 12.18 | &nbsp;&nbsp;&nbsp;9.15 | 0.95 | 0.94 | 1.95 | &nbsp;&nbsp;80 | &nbsp;&nbsp;51 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 06-30-2025<sup>3</sup> | &nbsp;&nbsp;9.49 | 0.19 | &nbsp;&nbsp;0.15 | &nbsp;&nbsp;0.34 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;9.83 | &nbsp;&nbsp;&nbsp;3.58<sup>4</sup> | 0.71<sup>5</sup> | 0.70<sup>5</sup> | 3.88<sup>5</sup> | &nbsp;&nbsp;63 | &nbsp;&nbsp;18 |
| 12-31-2024 | &nbsp;&nbsp;9.63 | 0.38 | (0.18) | &nbsp;&nbsp;0.20 | (0.34) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.34) | &nbsp;&nbsp;9.49 | &nbsp;&nbsp;&nbsp;2.05 | 0.70 | 0.70 | 3.92 | &nbsp;&nbsp;70 | &nbsp;&nbsp;44 |
| 12-31-2023 | &nbsp;&nbsp;9.18 | 0.33 | &nbsp;&nbsp;0.27 | &nbsp;&nbsp;0.60 | (0.15) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.15) | &nbsp;&nbsp;9.63 | &nbsp;&nbsp;&nbsp;6.57 | 0.72 | 0.71 | 3.58 | &nbsp;&nbsp;62 | &nbsp;&nbsp;41 |
| 12-31-2022 | 11.45 | 0.27 | (2.00) | (1.73) | (0.33) | (0.21) | (0.54) | &nbsp;&nbsp;9.18 | (14.88) | 0.71 | 0.70 | 2.70 | &nbsp;&nbsp;56 | &nbsp;&nbsp;39 |
| 12-31-2021 | 12.13 | 0.23 | (0.39) | (0.16) | (0.25) | (0.27) | (0.52) | 11.45 | &nbsp;&nbsp;(1.21) | 0.69 | 0.68 | 1.91 | &nbsp;&nbsp;65 | &nbsp;&nbsp;37 |
| 12-31-2020 | 11.35 | 0.26 | &nbsp;&nbsp;0.81 | &nbsp;&nbsp;1.07 | (0.28) | (0.01) | (0.29) | 12.13 | &nbsp;&nbsp;&nbsp;9.46 | 0.70 | 0.69 | 2.19 | &nbsp;&nbsp;44 | &nbsp;&nbsp;51 |
| **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** |

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|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 123 |

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[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

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| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period |  | Ratios and supplemental data | Ratios and supplemental data | Ratios and supplemental data |
|  |  | **Income (loss) from investment operations** | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period ($) | Net<br> investment<br> income<br> (loss) ($)<sup>1</sup> | Net realized and<br> unrealized<br> gain (loss)<br> on investments ($) | Total from<br> investment<br> operations ($) | From net<br> investment<br> income ($) | From net<br> realized<br> gain ($) | Total<br> distributions ($) | Net asset<br> value,<br> end of<br> period ($) | Total<br> return<br> (%)<sup>2</sup> | Expenses<br> before<br> reductions<br> (%) | Expenses<br> including<br> reductions<br> (%) | Net<br> investment<br> income<br> (loss) (%) | Net<br> assets,<br> end of<br> period<br> (in millions) | Portfolio<br> turnover<br> (%) |
| **Money Market Trust** | **Money Market Trust** | **Money Market Trust** | **Money Market Trust** | **Money Market Trust** | **Money Market Trust** | **Money Market Trust** | **Money Market Trust** | **Money Market Trust** | **Money Market Trust** | **Money Market Trust** | **Money Market Trust** | **Money Market Trust** | **Money Market Trust** | **Money Market Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 06-30-2025<sup>3</sup> | &nbsp;&nbsp;1.00 | 0.020 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>4</sup> | 0.020 | (0.020) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.020) | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;2.03<sup>5</sup> | 0.43<sup>6</sup> | 0.33<sup>6</sup> | 4.06<sup>6</sup> | 1699 | &nbsp;&nbsp;— |
| 12-31-2024 | &nbsp;&nbsp;1.00 | 0.049 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>4</sup> | 0.049 | (0.049) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.049) | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;4.97 | 0.44 | 0.33 | 4.86 | 1659 | &nbsp;&nbsp;— |
| 12-31-2023 | &nbsp;&nbsp;1.00 | 0.047 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>4</sup> | 0.047 | (0.047) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.047) | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;4.76 | 0.44 | 0.33 | 4.66 | 1780 | &nbsp;&nbsp;— |
| 12-31-2022 | &nbsp;&nbsp;1.00 | 0.013 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>4</sup> | 0.013 | (0.013) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.013) | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;1.29 | 0.44 | 0.33 | 1.33 | 1778 | &nbsp;&nbsp;— |
| 12-31-2021 | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>4</sup> | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;0.00<sup>7</sup> | 0.44 | 0.07 | &nbsp;&nbsp;&nbsp;— | 1522 | &nbsp;&nbsp;— |
| 12-31-2020 | &nbsp;&nbsp;1.00 | 0.003 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>4</sup> | 0.003 | (0.003) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.003) | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;0.31 | 0.44 | 0.24 | 0.26 | 1835 | &nbsp;&nbsp;— |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 06-30-2025<sup>3</sup> | &nbsp;&nbsp;1.00 | 0.019 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>4</sup> | 0.019 | (0.019) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.019) | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;1.93<sup>5</sup> | 0.63<sup>6</sup> | 0.53<sup>6</sup> | 3.86<sup>6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;44 | &nbsp;&nbsp;— |
| 12-31-2024 | &nbsp;&nbsp;1.00 | 0.047 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>4</sup> | 0.047 | (0.047) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.047) | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;4.77 | 0.64 | 0.53 | 4.67 | &nbsp;&nbsp;&nbsp;&nbsp;48 | &nbsp;&nbsp;— |
| 12-31-2023 | &nbsp;&nbsp;1.00 | 0.044 | &nbsp;&nbsp;0.001 | 0.045 | (0.045) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.045) | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;4.55 | 0.64 | 0.53 | 4.44 | &nbsp;&nbsp;&nbsp;&nbsp;57 | &nbsp;&nbsp;— |
| 12-31-2022 | &nbsp;&nbsp;1.00 | 0.010 | &nbsp;&nbsp;0.001 | 0.011 | (0.011) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.011) | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;1.07 | 0.64 | 0.53 | 1.00 | &nbsp;&nbsp;&nbsp;&nbsp;67 | &nbsp;&nbsp;— |
| 12-31-2021 | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>4</sup> | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;0.00<sup>7</sup> | 0.64 | 0.07 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;79 | &nbsp;&nbsp;— |
| 12-31-2020 | &nbsp;&nbsp;1.00 | 0.003 | (0.001) | 0.002 | (0.002) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.002) | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;0.24 | 0.64 | 0.32 | 0.26 | &nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;— |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 06-30-2025<sup>3</sup> | &nbsp;&nbsp;1.00 | 0.020 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>4</sup> | 0.020 | (0.020) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.020) | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;2.06<sup>5</sup> | 0.38<sup>6</sup> | 0.28<sup>6</sup> | 4.12<sup>6</sup> | &nbsp;&nbsp;&nbsp;667 | &nbsp;&nbsp;— |
| 12-31-2024 | &nbsp;&nbsp;1.00 | 0.049 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>4</sup> | 0.049 | (0.049) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.049) | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;5.03 | 0.39 | 0.28 | 4.91 | &nbsp;&nbsp;&nbsp;539 | &nbsp;&nbsp;— |
| 12-31-2023 | &nbsp;&nbsp;1.00 | 0.047 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>4</sup> | 0.047 | (0.047) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.047) | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;4.81 | 0.39 | 0.28 | 4.70 | &nbsp;&nbsp;&nbsp;451 | &nbsp;&nbsp;— |
| 12-31-2022 | &nbsp;&nbsp;1.00 | 0.014 | (0.001) | 0.013 | (0.013) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.013) | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;1.34 | 0.39 | 0.28 | 1.36 | &nbsp;&nbsp;&nbsp;484 | &nbsp;&nbsp;— |
| 12-31-2021 | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>4</sup> | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;0.00<sup>7</sup> | 0.39 | 0.07 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;393 | &nbsp;&nbsp;— |
| 12-31-2020 | &nbsp;&nbsp;1.00 | 0.003 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>4</sup> | 0.003 | (0.003) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.003) | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;0.33 | 0.39 | 0.22 | 0.31 | &nbsp;&nbsp;&nbsp;467 | &nbsp;&nbsp;— |
| **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Less than $0.0005 per share. 5. Not annualized. 6. Annualized. 7. Less than 0.005%.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Less than $0.0005 per share. 5. Not annualized. 6. Annualized. 7. Less than 0.005%.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Less than $0.0005 per share. 5. Not annualized. 6. Annualized. 7. Less than 0.005%.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Less than $0.0005 per share. 5. Not annualized. 6. Annualized. 7. Less than 0.005%.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Less than $0.0005 per share. 5. Not annualized. 6. Annualized. 7. Less than 0.005%.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Less than $0.0005 per share. 5. Not annualized. 6. Annualized. 7. Less than 0.005%.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Less than $0.0005 per share. 5. Not annualized. 6. Annualized. 7. Less than 0.005%.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Less than $0.0005 per share. 5. Not annualized. 6. Annualized. 7. Less than 0.005%.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Less than $0.0005 per share. 5. Not annualized. 6. Annualized. 7. Less than 0.005%.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Less than $0.0005 per share. 5. Not annualized. 6. Annualized. 7. Less than 0.005%.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Less than $0.0005 per share. 5. Not annualized. 6. Annualized. 7. Less than 0.005%.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Less than $0.0005 per share. 5. Not annualized. 6. Annualized. 7. Less than 0.005%.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Less than $0.0005 per share. 5. Not annualized. 6. Annualized. 7. Less than 0.005%.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Less than $0.0005 per share. 5. Not annualized. 6. Annualized. 7. Less than 0.005%.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Less than $0.0005 per share. 5. Not annualized. 6. Annualized. 7. Less than 0.005%.** |
| **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 06-30-2025<sup>3</sup> | 10.64 | &nbsp;&nbsp;0.33 | &nbsp;&nbsp;&nbsp;0.35 | &nbsp;&nbsp;0.68 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 11.32 | &nbsp;&nbsp;&nbsp;6.39<sup>4</sup> | 0.95<sup>5</sup> | 0.82<sup>5</sup> | 6.03<sup>5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;19 | &nbsp;&nbsp;71 |
| 12-31-2024 | 11.03 | &nbsp;&nbsp;0.59 | &nbsp;&nbsp;(0.62) | (0.03) | &nbsp;&nbsp;(0.36) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.36) | 10.64 | &nbsp;&nbsp;(0.32) | 0.94 | 0.82 | 5.40 | &nbsp;&nbsp;&nbsp;&nbsp;19 | 101 |
| 12-31-2023 | 10.48 | &nbsp;&nbsp;0.58 | &nbsp;&nbsp;&nbsp;0.26 | &nbsp;&nbsp;0.84 | &nbsp;&nbsp;(0.29) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.29) | 11.03 | &nbsp;&nbsp;&nbsp;8.23 | 0.93 | 0.82 | 5.35 | &nbsp;&nbsp;&nbsp;&nbsp;21 | &nbsp;&nbsp;89 |
| 12-31-2022 | 12.31 | &nbsp;&nbsp;0.47 | &nbsp;&nbsp;(1.87) | (1.40) | &nbsp;&nbsp;(0.30) | (0.13) | &nbsp;&nbsp;(0.43) | 10.48 | (11.12) | 0.90 | 0.82 | 4.31 | &nbsp;&nbsp;&nbsp;&nbsp;21 | 119 |
| 12-31-2021 | 13.47 | &nbsp;&nbsp;0.38 | &nbsp;&nbsp;(0.66) | (0.28) | &nbsp;&nbsp;(0.37) | (0.51) | &nbsp;&nbsp;(0.88) | 12.31 | &nbsp;&nbsp;(2.02) | 0.85 | 0.82 | 2.90 | &nbsp;&nbsp;&nbsp;&nbsp;29 | 126 |
| 12-31-2020 | 12.30 | &nbsp;&nbsp;0.30 | &nbsp;&nbsp;&nbsp;1.39 | &nbsp;&nbsp;1.69 | &nbsp;&nbsp;(0.52) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.52) | 13.47 | &nbsp;&nbsp;13.79 | 0.92<sup>6</sup> | 0.85<sup>6</sup> | 2.34 | &nbsp;&nbsp;&nbsp;&nbsp;32 | 326<sup>7</sup> |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 06-30-2025<sup>3</sup> | 10.44 | &nbsp;&nbsp;0.31 | &nbsp;&nbsp;&nbsp;0.34 | &nbsp;&nbsp;0.65 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 11.09 | &nbsp;&nbsp;&nbsp;6.12<sup>4</sup> | 1.15<sup>5</sup> | 1.02<sup>5</sup> | 5.82<sup>5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;36 | &nbsp;&nbsp;71 |
| 12-31-2024 | 10.83 | &nbsp;&nbsp;0.56 | &nbsp;&nbsp;(0.61) | (0.05) | &nbsp;&nbsp;(0.34) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.34) | 10.44 | &nbsp;&nbsp;(0.41) | 1.14 | 1.02 | 5.20 | &nbsp;&nbsp;&nbsp;&nbsp;37 | 101 |
| 12-31-2023 | 10.29 | &nbsp;&nbsp;0.54 | &nbsp;&nbsp;&nbsp;0.27 | &nbsp;&nbsp;0.81 | &nbsp;&nbsp;(0.27) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.27) | 10.83 | &nbsp;&nbsp;&nbsp;7.97 | 1.13 | 1.02 | 5.13 | &nbsp;&nbsp;&nbsp;&nbsp;42 | &nbsp;&nbsp;89 |
| 12-31-2022 | 12.10 | &nbsp;&nbsp;0.44 | &nbsp;&nbsp;(1.84) | (1.40) | &nbsp;&nbsp;(0.28) | (0.13) | &nbsp;&nbsp;(0.41) | 10.29 | (11.26) | 1.10 | 1.02 | 4.11 | &nbsp;&nbsp;&nbsp;&nbsp;43 | 119 |
| 12-31-2021 | 13.25 | &nbsp;&nbsp;0.35 | &nbsp;&nbsp;(0.64) | (0.29) | &nbsp;&nbsp;(0.35) | (0.51) | &nbsp;&nbsp;(0.86) | 12.10 | &nbsp;&nbsp;(2.26) | 1.05 | 1.02 | 2.70 | &nbsp;&nbsp;&nbsp;&nbsp;56 | 126 |
| 12-31-2020 | 12.11 | &nbsp;&nbsp;0.27 | &nbsp;&nbsp;&nbsp;1.37 | &nbsp;&nbsp;1.64 | &nbsp;&nbsp;(0.50) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.50) | 13.25 | &nbsp;&nbsp;13.63 | 1.12<sup>6</sup> | 1.05<sup>6</sup> | 2.11 | &nbsp;&nbsp;&nbsp;&nbsp;59 | 326<sup>7</sup> |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 06-30-2025<sup>3</sup> | 10.59 | &nbsp;&nbsp;0.33 | &nbsp;&nbsp;&nbsp;0.35 | &nbsp;&nbsp;0.68 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 11.27 | &nbsp;&nbsp;&nbsp;6.42<sup>4</sup> | 0.90<sup>5</sup> | 0.77<sup>5</sup> | 6.09<sup>5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;86 | &nbsp;&nbsp;71 |
| 12-31-2024 | 10.98 | &nbsp;&nbsp;0.60 | &nbsp;&nbsp;(0.62) | (0.02) | &nbsp;&nbsp;(0.37) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.37) | 10.59 | &nbsp;&nbsp;(0.27) | 0.89 | 0.77 | 5.46 | &nbsp;&nbsp;&nbsp;&nbsp;83 | 101 |
| 12-31-2023 | 10.43 | &nbsp;&nbsp;0.58 | &nbsp;&nbsp;&nbsp;0.26 | &nbsp;&nbsp;0.84 | &nbsp;&nbsp;(0.29) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.29) | 10.98 | &nbsp;&nbsp;&nbsp;8.21 | 0.88 | 0.77 | 5.40 | &nbsp;&nbsp;&nbsp;&nbsp;98 | &nbsp;&nbsp;89 |
| 12-31-2022 | 12.25 | &nbsp;&nbsp;0.48 | &nbsp;&nbsp;(1.86) | (1.38) | &nbsp;&nbsp;(0.31) | (0.13) | &nbsp;&nbsp;(0.44) | 10.43 | (10.96) | 0.85 | 0.77 | 4.38 | &nbsp;&nbsp;&nbsp;&nbsp;96 | 119 |
| 12-31-2021 | 13.41 | &nbsp;&nbsp;0.39 | &nbsp;&nbsp;(0.66) | (0.27) | &nbsp;&nbsp;(0.38) | (0.51) | &nbsp;&nbsp;(0.89) | 12.25 | &nbsp;&nbsp;(2.06) | 0.80 | 0.77 | 2.95 | &nbsp;&nbsp;&nbsp;126 | 126 |
| 12-31-2020 | 12.25 | &nbsp;&nbsp;0.30 | &nbsp;&nbsp;&nbsp;1.39 | &nbsp;&nbsp;1.69 | &nbsp;&nbsp;(0.53) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.53) | 13.41 | &nbsp;&nbsp;13.90 | 0.87<sup>6</sup> | 0.80<sup>6</sup> | 2.35 | &nbsp;&nbsp;&nbsp;106 | 326<sup>7</sup> |
| **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized. 6. Includes interest expense of 0.01% for the year ended December 31, 2020. 7. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized. 6. Includes interest expense of 0.01% for the year ended December 31, 2020. 7. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized. 6. Includes interest expense of 0.01% for the year ended December 31, 2020. 7. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized. 6. Includes interest expense of 0.01% for the year ended December 31, 2020. 7. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized. 6. Includes interest expense of 0.01% for the year ended December 31, 2020. 7. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized. 6. Includes interest expense of 0.01% for the year ended December 31, 2020. 7. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized. 6. Includes interest expense of 0.01% for the year ended December 31, 2020. 7. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized. 6. Includes interest expense of 0.01% for the year ended December 31, 2020. 7. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized. 6. Includes interest expense of 0.01% for the year ended December 31, 2020. 7. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized. 6. Includes interest expense of 0.01% for the year ended December 31, 2020. 7. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized. 6. Includes interest expense of 0.01% for the year ended December 31, 2020. 7. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized. 6. Includes interest expense of 0.01% for the year ended December 31, 2020. 7. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized. 6. Includes interest expense of 0.01% for the year ended December 31, 2020. 7. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized. 6. Includes interest expense of 0.01% for the year ended December 31, 2020. 7. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized. 6. Includes interest expense of 0.01% for the year ended December 31, 2020. 7. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** |

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| **The accompanying notes are an integral part of the financial statements.** | 124 |

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[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

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| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period |  | Ratios and supplemental data | Ratios and supplemental data | Ratios and supplemental data |
|  |  | **Income (loss) from investment operations** | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period ($) | Net<br> investment<br> income<br> (loss) ($)<sup>1</sup> | Net realized and<br> unrealized<br> gain (loss)<br> on investments ($) | Total from<br> investment<br> operations ($) | From net<br> investment<br> income ($) | From net<br> realized<br> gain ($) | Total<br> distributions ($) | Net asset<br> value,<br> end of<br> period ($) | Total<br> return<br> (%)<sup>2</sup> | Expenses<br> before<br> reductions<br> (%) | Expenses<br> including<br> reductions<br> (%) | Net<br> investment<br> income<br> (loss) (%) | Net<br> assets,<br> end of<br> period<br> (in millions) | Portfolio<br> turnover<br> (%) |
| **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 06-30-2025<sup>3</sup> | 11.54 | 0.23 | &nbsp;&nbsp;0.24 | &nbsp;&nbsp;0.47 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 12.01 | &nbsp;&nbsp;&nbsp;4.07<sup>4</sup> | 0.66<sup>5</sup> | 0.63<sup>5</sup> | 3.98<sup>5</sup> | &nbsp;&nbsp;&nbsp;131 | &nbsp;&nbsp;54 |
| 12-31-2024 | 11.75 | 0.43 | (0.21) | &nbsp;&nbsp;0.22 | (0.43) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.43) | 11.54 | &nbsp;&nbsp;&nbsp;1.83 | 0.66 | 0.62 | 3.68 | &nbsp;&nbsp;&nbsp;134 | 114 |
| 12-31-2023 | 11.46 | 0.39 | &nbsp;&nbsp;0.28 | &nbsp;&nbsp;0.67 | (0.38) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.38) | 11.75 | &nbsp;&nbsp;&nbsp;6.10 | 0.66 | 0.63 | 3.36 | &nbsp;&nbsp;&nbsp;139 | 146 |
| 12-31-2022 | 13.94 | 0.32 | (2.32) | (2.00) | (0.38) | (0.10) | (0.48) | 11.46 | (14.20) | 0.66 | 0.62 | 2.56 | &nbsp;&nbsp;&nbsp;135 | 120 |
| 12-31-2021 | 14.59 | 0.28 | (0.45) | (0.17) | (0.41) | (0.07) | (0.48) | 13.94 | &nbsp;&nbsp;(1.20) | 0.65 | 0.61 | 1.94 | &nbsp;&nbsp;&nbsp;177 | 132 |
| 12-31-2020 | 13.79 | 0.34 | &nbsp;&nbsp;0.91 | &nbsp;&nbsp;1.25 | (0.45) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.45) | 14.59 | &nbsp;&nbsp;&nbsp;9.08 | 0.65 | 0.62 | 2.36 | &nbsp;&nbsp;&nbsp;179 | 118 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 06-30-2025<sup>3</sup> | 11.55 | 0.22 | &nbsp;&nbsp;0.24 | &nbsp;&nbsp;0.46 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 12.01 | &nbsp;&nbsp;&nbsp;3.98<sup>4</sup> | 0.86<sup>5</sup> | 0.83<sup>5</sup> | 3.78<sup>5</sup> | &nbsp;&nbsp;&nbsp;349 | &nbsp;&nbsp;54 |
| 12-31-2024 | 11.77 | 0.41 | (0.22) | &nbsp;&nbsp;0.19 | (0.41) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.41) | 11.55 | &nbsp;&nbsp;&nbsp;1.56 | 0.86 | 0.82 | 3.47 | &nbsp;&nbsp;&nbsp;356 | 114 |
| 12-31-2023 | 11.48 | 0.37 | &nbsp;&nbsp;0.27 | &nbsp;&nbsp;0.64 | (0.35) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.35) | 11.77 | &nbsp;&nbsp;&nbsp;5.88 | 0.86 | 0.83 | 3.16 | &nbsp;&nbsp;&nbsp;390 | 146 |
| 12-31-2022 | 13.96 | 0.30 | (2.32) | (2.02) | (0.36) | (0.10) | (0.46) | 11.48 | (14.38) | 0.86 | 0.82 | 2.40 | &nbsp;&nbsp;&nbsp;413 | 120 |
| 12-31-2021 | 14.61 | 0.25 | (0.45) | (0.20) | (0.38) | (0.07) | (0.45) | 13.96 | &nbsp;&nbsp;(1.39) | 0.85 | 0.81 | 1.74 | &nbsp;&nbsp;&nbsp;415 | 132 |
| 12-31-2020 | 13.81 | 0.31 | &nbsp;&nbsp;0.91 | &nbsp;&nbsp;1.22 | (0.42) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.42) | 14.61 | &nbsp;&nbsp;&nbsp;8.86 | 0.85 | 0.82 | 2.18 | &nbsp;&nbsp;&nbsp;437 | 118 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 06-30-2025<sup>3</sup> | 11.53 | 0.23 | &nbsp;&nbsp;0.24 | &nbsp;&nbsp;0.47 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 12.00 | &nbsp;&nbsp;&nbsp;4.08<sup>4</sup> | 0.61<sup>5</sup> | 0.59<sup>5</sup> | 4.02<sup>5</sup> | 5072 | &nbsp;&nbsp;54 |
| 12-31-2024 | 11.74 | 0.44 | (0.22) | &nbsp;&nbsp;0.22 | (0.43) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.43) | 11.53 | &nbsp;&nbsp;&nbsp;1.88 | 0.61 | 0.58 | 3.72 | 5378 | 114 |
| 12-31-2023 | 11.45 | 0.39 | &nbsp;&nbsp;0.28 | &nbsp;&nbsp;0.67 | (0.38) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.38) | 11.74 | &nbsp;&nbsp;&nbsp;6.15 | 0.61 | 0.59 | 3.40 | 5487 | 146 |
| 12-31-2022 | 13.93 | 0.33 | (2.32) | (1.99) | (0.39) | (0.10) | (0.49) | 11.45 | (14.16) | 0.61 | 0.58 | 2.61 | 5411 | 120 |
| 12-31-2021 | 14.58 | 0.28 | (0.45) | (0.17) | (0.41) | (0.07) | (0.48) | 13.93 | &nbsp;&nbsp;(1.15) | 0.60 | 0.57 | 1.98 | 7199 | 132 |
| 12-31-2020 | 13.78 | 0.35 | &nbsp;&nbsp;0.90 | &nbsp;&nbsp;1.25 | (0.45) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.45) | 14.58 | &nbsp;&nbsp;&nbsp;9.14 | 0.60 | 0.58 | 2.40 | 7212 | 118 |
| **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** |
| **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 06-30-2025<sup>3</sup> | 11.38 | 0.17 | &nbsp;&nbsp;0.18 | &nbsp;&nbsp;0.35 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 11.73 | &nbsp;&nbsp;&nbsp;3.08<sup>4</sup> | 0.71<sup>5</sup> | 0.70<sup>5</sup> | 3.05<sup>5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;23 | 202 |
| 12-31-2024 | 11.18 | 0.30 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>6</sup> | &nbsp;&nbsp;0.30 | (0.10) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.10) | 11.38 | &nbsp;&nbsp;&nbsp;2.66 | 0.73 | 0.72 | 2.65 | &nbsp;&nbsp;&nbsp;&nbsp;23 | 185 |
| 12-31-2023 | 10.94 | 0.20 | &nbsp;&nbsp;0.22 | &nbsp;&nbsp;0.42 | (0.18) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.18) | 11.18 | &nbsp;&nbsp;&nbsp;3.92 | 0.73 | 0.72 | 1.77 | &nbsp;&nbsp;&nbsp;&nbsp;24 | 108 |
| 12-31-2022 | 11.88 | 0.12 | (0.89) | (0.77) | (0.17) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.17) | 10.94 | &nbsp;&nbsp;(6.48) | 0.72 | 0.71 | 1.10 | &nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;52 |
| 12-31-2021 | 12.29 | 0.13 | (0.32) | (0.19) | (0.22) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.22) | 11.88 | &nbsp;&nbsp;(1.59) | 0.70 | 0.69 | 1.04 | &nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp;32 |
| 12-31-2020 | 12.07 | 0.16 | &nbsp;&nbsp;0.27 | &nbsp;&nbsp;0.43 | (0.21) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.21) | 12.29 | &nbsp;&nbsp;&nbsp;3.60 | 0.71 | 0.71 | 1.30 | &nbsp;&nbsp;&nbsp;&nbsp;33 | &nbsp;&nbsp;38 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 06-30-2025<sup>3</sup> | 11.38 | 0.16 | &nbsp;&nbsp;0.18 | &nbsp;&nbsp;0.34 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 11.72 | &nbsp;&nbsp;&nbsp;2.99<sup>4</sup> | 0.91<sup>5</sup> | 0.90<sup>5</sup> | 2.85<sup>5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;15 | 202 |
| 12-31-2024 | 11.18 | 0.28 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>6</sup> | &nbsp;&nbsp;0.28 | (0.08) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.08) | 11.38 | &nbsp;&nbsp;&nbsp;2.48 | 0.93 | 0.92 | 2.46 | &nbsp;&nbsp;&nbsp;&nbsp;15 | 185 |
| 12-31-2023 | 10.95 | 0.17 | &nbsp;&nbsp;0.22 | &nbsp;&nbsp;0.39 | (0.16) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.16) | 11.18 | &nbsp;&nbsp;&nbsp;3.63 | 0.93 | 0.92 | 1.57 | &nbsp;&nbsp;&nbsp;&nbsp;15 | 108 |
| 12-31-2022 | 11.89 | 0.10 | (0.89) | (0.79) | (0.15) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.15) | 10.95 | &nbsp;&nbsp;(6.67) | 0.92 | 0.91 | 0.89 | &nbsp;&nbsp;&nbsp;&nbsp;17 | &nbsp;&nbsp;52 |
| 12-31-2021 | 12.30 | 0.10 | (0.32) | (0.22) | (0.19) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.19) | 11.89 | &nbsp;&nbsp;(1.78) | 0.90 | 0.89 | 0.84 | &nbsp;&nbsp;&nbsp;&nbsp;22 | &nbsp;&nbsp;32 |
| 12-31-2020 | 12.08 | 0.14 | &nbsp;&nbsp;0.27 | &nbsp;&nbsp;0.41 | (0.19) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.19) | 12.30 | &nbsp;&nbsp;&nbsp;3.39 | 0.91 | 0.91 | 1.10 | &nbsp;&nbsp;&nbsp;&nbsp;29 | &nbsp;&nbsp;38 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 06-30-2025<sup>3</sup> | 11.38 | 0.18 | &nbsp;&nbsp;0.17 | &nbsp;&nbsp;0.35 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 11.73 | &nbsp;&nbsp;&nbsp;3.08<sup>4</sup> | 0.66<sup>5</sup> | 0.65<sup>5</sup> | 3.13<sup>5</sup> | &nbsp;&nbsp;&nbsp;205 | 202 |
| 12-31-2024 | 11.17 | 0.31 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>6</sup> | &nbsp;&nbsp;0.31 | (0.10) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.10) | 11.38 | &nbsp;&nbsp;&nbsp;2.80 | 0.68 | 0.67 | 2.70 | &nbsp;&nbsp;&nbsp;121 | 185 |
| 12-31-2023 | 10.94 | 0.20 | &nbsp;&nbsp;0.22 | &nbsp;&nbsp;0.42 | (0.19) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.19) | 11.17 | &nbsp;&nbsp;&nbsp;3.87 | 0.68 | 0.67 | 1.83 | &nbsp;&nbsp;&nbsp;131 | 108 |
| 12-31-2022 | 11.88 | 0.13 | (0.90) | (0.77) | (0.17) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.17) | 10.94 | &nbsp;&nbsp;(6.43) | 0.67 | 0.66 | 1.15 | &nbsp;&nbsp;&nbsp;119 | &nbsp;&nbsp;52 |
| 12-31-2021 | 12.29 | 0.13 | (0.32) | (0.19) | (0.22) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.22) | 11.88 | &nbsp;&nbsp;(1.54) | 0.65 | 0.64 | 1.09 | &nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;32 |
| 12-31-2020 | 12.07 | 0.17 | &nbsp;&nbsp;0.27 | &nbsp;&nbsp;0.44 | (0.22) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.22) | 12.29 | &nbsp;&nbsp;&nbsp;3.65 | 0.66 | 0.66 | 1.35 | &nbsp;&nbsp;&nbsp;131 | &nbsp;&nbsp;38 |
| **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized. 6. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized. 6. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized. 6. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized. 6. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized. 6. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized. 6. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized. 6. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized. 6. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized. 6. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized. 6. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized. 6. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized. 6. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized. 6. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized. 6. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized. 6. Less than $0.005 per share.** |

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|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 125 |

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[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

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| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period |  | Ratios and supplemental data | Ratios and supplemental data | Ratios and supplemental data |
|  |  | **Income (loss) from investment operations** | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period ($) | Net<br> investment<br> income<br> (loss) ($)<sup>1</sup> | Net realized and<br> unrealized<br> gain (loss)<br> on investments ($) | Total from<br> investment<br> operations ($) | From net<br> investment<br> income ($) | From net<br> realized<br> gain ($) | Total<br> distributions ($) | Net asset<br> value,<br> end of<br> period ($) | Total<br> return<br> (%)<sup>2</sup> | Expenses<br> before<br> reductions<br> (%) | Expenses<br> including<br> reductions<br> (%) | Net<br> investment<br> income<br> (loss) (%) | Net<br> assets,<br> end of<br> period<br> (in millions) | Portfolio<br> turnover<br> (%) |
| **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 06-30-2025<sup>3</sup> | 12.66 | 0.29 | &nbsp;&nbsp;0.22 | &nbsp;&nbsp;0.51 | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 13.17 | &nbsp;&nbsp;&nbsp;4.03<sup>4</sup> | 0.79<sup>5</sup> | 0.78<sup>5</sup> | 4.55<sup>5</sup> | 216 | 35 |
| 12-31-2024 | 12.62 | 0.53 | (0.14) | &nbsp;&nbsp;0.39 | (0.35) |  | (0.35) | 12.66 | &nbsp;&nbsp;&nbsp;3.10 | 0.79 | 0.78 | 4.15 | 222 | 46 |
| 12-31-2023 | 12.18 | 0.46 | &nbsp;&nbsp;0.42 | &nbsp;&nbsp;0.88 | (0.44) |  | (0.44) | 12.62 | &nbsp;&nbsp;&nbsp;7.37 | 0.80 | 0.79 | 3.71 | 234 | 39 |
| 12-31-2022 | 14.07 | 0.38 | (1.81) | (1.43) | (0.46) |  | (0.46) | 12.18 | (10.06) | 0.78 | 0.77 | 2.97 | 238 | 48 |
| 12-31-2021 | 14.44 | 0.37 | (0.25) | &nbsp;&nbsp;0.12 | (0.49) |  | (0.49) | 14.07 | &nbsp;&nbsp;&nbsp;0.90 | 0.76 | 0.75 | 2.56 | 301 | 61 |
| 12-31-2020 | 13.52 | 0.35 | &nbsp;&nbsp;0.80 | &nbsp;&nbsp;1.15 | (0.23) |  | (0.23) | 14.44 | &nbsp;&nbsp;&nbsp;8.59 | 0.76 | 0.76 | 2.54 | 333 | 73 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 06-30-2025<sup>3</sup> | 12.70 | 0.28 | &nbsp;&nbsp;0.22 | &nbsp;&nbsp;0.50 | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 13.20 | &nbsp;&nbsp;&nbsp;3.94<sup>4</sup> | 0.99<sup>5</sup> | 0.98<sup>5</sup> | 4.36<sup>5</sup> | &nbsp;&nbsp;73 | 35 |
| 12-31-2024 | 12.66 | 0.51 | (0.14) | &nbsp;&nbsp;0.37 | (0.33) |  | (0.33) | 12.70 | &nbsp;&nbsp;&nbsp;2.91 | 0.99 | 0.98 | 3.97 | &nbsp;&nbsp;69 | 46 |
| 12-31-2023 | 12.22 | 0.44 | &nbsp;&nbsp;0.41 | &nbsp;&nbsp;0.85 | (0.41) |  | (0.41) | 12.66 | &nbsp;&nbsp;&nbsp;7.23 | 1.00 | 0.99 | 3.52 | &nbsp;&nbsp;58 | 39 |
| 12-31-2022 | 14.11 | 0.36 | (1.82) | (1.46) | (0.43) |  | (0.43) | 12.22 | (10.30) | 0.98 | 0.97 | 2.80 | &nbsp;&nbsp;52 | 48 |
| 12-31-2021 | 14.47 | 0.34 | (0.24) | &nbsp;&nbsp;0.10 | (0.46) |  | (0.46) | 14.11 | &nbsp;&nbsp;&nbsp;0.70 | 0.96 | 0.95 | 2.36 | &nbsp;&nbsp;51 | 61 |
| 12-31-2020 | 13.56 | 0.32 | &nbsp;&nbsp;0.80 | &nbsp;&nbsp;1.12 | (0.21) |  | (0.21) | 14.47 | &nbsp;&nbsp;&nbsp;8.36 | 0.96 | 0.96 | 2.34 | &nbsp;&nbsp;38 | 73 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 06-30-2025<sup>3</sup> | 12.62 | 0.29 | &nbsp;&nbsp;0.22 | &nbsp;&nbsp;0.51 | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 13.13 | &nbsp;&nbsp;&nbsp;4.04<sup>4</sup> | 0.74<sup>5</sup> | 0.73<sup>5</sup> | 4.51<sup>5</sup> | 100 | 35 |
| 12-31-2024 | 12.58 | 0.54 | (0.14) | &nbsp;&nbsp;0.40 | (0.36) |  | (0.36) | 12.62 | &nbsp;&nbsp;&nbsp;3.16 | 0.74 | 0.73 | 4.23 | 137 | 46 |
| 12-31-2023 | 12.14 | 0.47 | &nbsp;&nbsp;0.41 | &nbsp;&nbsp;0.88 | (0.44) |  | (0.44) | 12.58 | &nbsp;&nbsp;&nbsp;7.53 | 0.75 | 0.74 | 3.77 | &nbsp;&nbsp;93 | 39 |
| 12-31-2022 | 14.03 | 0.39 | (1.82) | (1.43) | (0.46) |  | (0.46) | 12.14 | (10.05) | 0.73 | 0.72 | 3.03 | &nbsp;&nbsp;84 | 48 |
| 12-31-2021 | 14.39 | 0.38 | (0.24) | &nbsp;&nbsp;0.14 | (0.50) |  | (0.50) | 14.03 | &nbsp;&nbsp;&nbsp;0.95 | 0.71 | 0.70 | 2.61 | &nbsp;&nbsp;96 | 61 |
| 12-31-2020 | 13.48 | 0.35 | &nbsp;&nbsp;0.80 | &nbsp;&nbsp;1.15 | (0.24) |  | (0.24) | 14.39 | &nbsp;&nbsp;&nbsp;8.60 | 0.71 | 0.71 | 2.59 | &nbsp;&nbsp;87 | 73 |
| **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** |
| **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 06-30-2025<sup>3</sup> | &nbsp;&nbsp;8.81 | 0.17 | &nbsp;&nbsp;0.17 | &nbsp;&nbsp;0.34 | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;9.15 | &nbsp;&nbsp;&nbsp;3.86<sup>4</sup> | 0.57<sup>5</sup> | 0.30<sup>5</sup> | 3.78<sup>5</sup> | 338 | 31 |
| 12-31-2024 | &nbsp;&nbsp;8.99 | 0.31 | (0.22) | &nbsp;&nbsp;0.09 | (0.27) |  | (0.27) | &nbsp;&nbsp;8.81 | &nbsp;&nbsp;&nbsp;0.99 | 0.57 | 0.30 | 3.41 | 326 | 29 |
| 12-31-2023 | &nbsp;&nbsp;8.78 | 0.27 | &nbsp;&nbsp;0.18 | &nbsp;&nbsp;0.45 | (0.24) |  | (0.24) | &nbsp;&nbsp;8.99 | &nbsp;&nbsp;&nbsp;5.35 | 0.57 | 0.30 | 3.08 | 299 | 10 |
| 12-31-2022 | 10.45 | 0.22 | (1.64) | (1.42) | (0.25) |  | (0.25) | &nbsp;&nbsp;8.78 | (13.49) | 0.57 | 0.30 | 2.29 | 271 | 38 |
| 12-31-2021 | 10.89 | 0.17 | (0.37) | (0.20) | (0.24) |  | (0.24) | 10.45 | &nbsp;&nbsp;(1.81) | 0.57 | 0.30 | 1.58 | 336 | 32 |
| 12-31-2020 | 10.39 | 0.21 | &nbsp;&nbsp;0.54 | &nbsp;&nbsp;0.75 | (0.25) |  | (0.25) | 10.89 | &nbsp;&nbsp;&nbsp;7.23 | 0.57 | 0.30 | 1.93 | 389 | 40 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 06-30-2025<sup>3</sup> | &nbsp;&nbsp;8.82 | 0.16 | &nbsp;&nbsp;0.18 | &nbsp;&nbsp;0.34 | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;9.16 | &nbsp;&nbsp;&nbsp;3.85<sup>4</sup> | 0.77<sup>5</sup> | 0.50<sup>5</sup> | 3.58<sup>5</sup> | &nbsp;&nbsp;44 | 31 |
| 12-31-2024 | &nbsp;&nbsp;9.00 | 0.29 | (0.21) | &nbsp;&nbsp;0.08 | (0.26) |  | (0.26) | &nbsp;&nbsp;8.82 | &nbsp;&nbsp;&nbsp;0.80 | 0.77 | 0.50 | 3.20 | &nbsp;&nbsp;42 | 29 |
| 12-31-2023 | &nbsp;&nbsp;8.80 | 0.26 | &nbsp;&nbsp;0.16 | &nbsp;&nbsp;0.42 | (0.22) |  | (0.22) | &nbsp;&nbsp;9.00 | &nbsp;&nbsp;&nbsp;5.02 | 0.77 | 0.50 | 2.88 | &nbsp;&nbsp;48 | 10 |
| 12-31-2022 | 10.46 | 0.20 | (1.63) | (1.43) | (0.23) |  | (0.23) | &nbsp;&nbsp;8.80 | (13.58) | 0.77 | 0.50 | 2.08 | &nbsp;&nbsp;49 | 38 |
| 12-31-2021 | 10.91 | 0.15 | (0.38) | (0.23) | (0.22) |  | (0.22) | 10.46 | &nbsp;&nbsp;(2.10) | 0.77 | 0.50 | 1.38 | &nbsp;&nbsp;62 | 32 |
| 12-31-2020 | 10.40 | 0.19 | &nbsp;&nbsp;0.55 | &nbsp;&nbsp;0.74 | (0.23) |  | (0.23) | 10.91 | &nbsp;&nbsp;&nbsp;7.11 | 0.77 | 0.50 | 1.73 | &nbsp;&nbsp;81 | 40 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 06-30-2025<sup>3</sup> | &nbsp;&nbsp;8.81 | 0.17 | &nbsp;&nbsp;0.17 | &nbsp;&nbsp;0.34 | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;9.15 | &nbsp;&nbsp;&nbsp;3.86<sup>4</sup> | 0.52<sup>5</sup> | 0.25<sup>5</sup> | 3.83<sup>5</sup> | 666 | 31 |
| 12-31-2024 | &nbsp;&nbsp;8.98 | 0.31 | (0.20) | &nbsp;&nbsp;0.11 | (0.28) |  | (0.28) | &nbsp;&nbsp;8.81 | &nbsp;&nbsp;&nbsp;1.14 | 0.52 | 0.25 | 3.46 | 632 | 29 |
| 12-31-2023 | &nbsp;&nbsp;8.78 | 0.28 | &nbsp;&nbsp;0.16 | &nbsp;&nbsp;0.44 | (0.24) |  | (0.24) | &nbsp;&nbsp;8.98 | &nbsp;&nbsp;&nbsp;5.29 | 0.52 | 0.25 | 3.14 | 594 | 10 |
| 12-31-2022 | 10.44 | 0.22 | (1.62) | (1.40) | (0.26) |  | (0.26) | &nbsp;&nbsp;8.78 | (13.36) | 0.52 | 0.25 | 2.39 | 542 | 38 |
| 12-31-2021 | 10.89 | 0.17 | (0.37) | (0.20) | (0.25) |  | (0.25) | 10.44 | &nbsp;&nbsp;(1.86) | 0.52 | 0.25 | 1.62 | 350 | 32 |
| 12-31-2020 | 10.38 | 0.22 | &nbsp;&nbsp;0.54 | &nbsp;&nbsp;0.76 | (0.25) |  | (0.25) | 10.89 | &nbsp;&nbsp;&nbsp;7.39 | 0.52 | 0.25 | 1.99 | 329 | 40 |
| **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** |

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| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 126 |

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[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

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| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period |  | Ratios and supplemental data | Ratios and supplemental data | Ratios and supplemental data |
|  |  | **Income (loss) from investment operations** | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period ($) | Net<br> investment<br> income<br> (loss) ($)<sup>1</sup> | Net realized and<br> unrealized<br> gain (loss)<br> on investments ($) | Total from<br> investment<br> operations ($) | From net<br> investment<br> income ($) | From net<br> realized<br> gain ($) | Total<br> distributions ($) | Net asset<br> value,<br> end of<br> period ($) | Total<br> return<br> (%)<sup>2</sup> | Expenses<br> before<br> reductions<br> (%) | Expenses<br> including<br> reductions<br> (%) | Net<br> investment<br> income<br> (loss) (%) | Net<br> assets,<br> end of<br> period<br> (in millions) | Portfolio<br> turnover<br> (%) |
| **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 06-30-2025<sup>3</sup> | 11.48 | 0.23 | &nbsp;&nbsp;0.02 | &nbsp;&nbsp;0.25 | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 11.73 | &nbsp;&nbsp;2.18<sup>4</sup> | 0.68<sup>5</sup> | 0.61<sup>5</sup> | 4.08<sup>5</sup> | &nbsp;&nbsp;10 | 29 |
| 12-31-2024 | 11.11 | 0.47 | &nbsp;&nbsp;0.08 | &nbsp;&nbsp;0.55 | (0.18) |  | (0.18) | 11.48 | &nbsp;&nbsp;4.97 | 0.68 | 0.61 | 4.18 | &nbsp;&nbsp;10 | 69 |
| 12-31-2023 | 10.93 | 0.33 | &nbsp;&nbsp;0.17 | &nbsp;&nbsp;0.50 | (0.32) |  | (0.32) | 11.11 | &nbsp;&nbsp;4.60 | 0.68 | 0.61 | 2.99 | &nbsp;&nbsp;12 | 41 |
| 12-31-2022 | 11.19 | 0.10 | (0.20) | (0.10) | (0.16) |  | (0.16) | 10.93 | (0.84) | 0.67 | 0.61 | 0.94 | &nbsp;&nbsp;10 | 54 |
| 12-31-2021 | 11.46 | 0.04 | (0.09) | (0.05) | (0.22) |  | (0.22) | 11.19 | (0.46) | 0.67 | 0.60 | 0.34 | &nbsp;&nbsp;11 | 47 |
| 12-31-2020 | 11.51 | 0.14 | &nbsp;&nbsp;0.03 | &nbsp;&nbsp;0.17 | (0.22) |  | (0.22) | 11.46 | &nbsp;&nbsp;1.47 | 0.67 | 0.60 | 1.21 | &nbsp;&nbsp;15 | 71 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 06-30-2025<sup>3</sup> | 11.48 | 0.22 | &nbsp;&nbsp;0.01 | &nbsp;&nbsp;0.23 | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 11.71 | &nbsp;&nbsp;2.00<sup>4</sup> | 0.88<sup>5</sup> | 0.81<sup>5</sup> | 3.88<sup>5</sup> | 179 | 29 |
| 12-31-2024 | 11.11 | 0.45 | &nbsp;&nbsp;0.08 | &nbsp;&nbsp;0.53 | (0.16) |  | (0.16) | 11.48 | &nbsp;&nbsp;4.78 | 0.88 | 0.81 | 3.98 | 178 | 69 |
| 12-31-2023 | 10.93 | 0.31 | &nbsp;&nbsp;0.17 | &nbsp;&nbsp;0.48 | (0.30) |  | (0.30) | 11.11 | &nbsp;&nbsp;4.41 | 0.88 | 0.81 | 2.77 | 200 | 41 |
| 12-31-2022 | 11.19 | 0.09 | (0.21) | (0.12) | (0.14) |  | (0.14) | 10.93 | (1.04) | 0.87 | 0.81 | 0.77 | 228 | 54 |
| 12-31-2021 | 11.46 | 0.02 | (0.10) | (0.08) | (0.19) |  | (0.19) | 11.19 | (0.66) | 0.87 | 0.80 | 0.15 | 197 | 47 |
| 12-31-2020 | 11.51 | 0.12 | &nbsp;&nbsp;0.03 | &nbsp;&nbsp;0.15 | (0.20) |  | (0.20) | 11.46 | &nbsp;&nbsp;1.28 | 0.87 | 0.80 | 1.02 | 255 | 71 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 06-30-2025<sup>3</sup> | 11.49 | 0.24 | &nbsp;&nbsp;0.01 | &nbsp;&nbsp;0.25 | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;— | 11.74 | &nbsp;&nbsp;2.18<sup>4</sup> | 0.63<sup>5</sup> | 0.56<sup>5</sup> | 4.13<sup>5</sup> | &nbsp;&nbsp;41 | 29 |
| 12-31-2024 | 11.12 | 0.48 | &nbsp;&nbsp;0.08 | &nbsp;&nbsp;0.56 | (0.19) |  | (0.19) | 11.49 | &nbsp;&nbsp;5.01 | 0.63 | 0.56 | 4.24 | &nbsp;&nbsp;37 | 69 |
| 12-31-2023 | 10.93 | 0.34 | &nbsp;&nbsp;0.17 | &nbsp;&nbsp;0.51 | (0.32) |  | (0.32) | 11.12 | &nbsp;&nbsp;4.74 | 0.63 | 0.56 | 3.04 | &nbsp;&nbsp;38 | 41 |
| 12-31-2022 | 11.20 | 0.11 | (0.21) | (0.10) | (0.17) |  | (0.17) | 10.93 | (0.88) | 0.62 | 0.56 | 0.97 | &nbsp;&nbsp;35 | 54 |
| 12-31-2021 | 11.47 | 0.04 | (0.09) | (0.05) | (0.22) |  | (0.22) | 11.20 | (0.41) | 0.62 | 0.55 | 0.38 | &nbsp;&nbsp;38 | 47 |
| 12-31-2020 | 11.51 | 0.15 | &nbsp;&nbsp;0.04 | &nbsp;&nbsp;0.19 | (0.23) |  | (0.23) | 11.47 | &nbsp;&nbsp;1.61 | 0.62 | 0.55 | 1.27 | &nbsp;&nbsp;34 | 71 |
| **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-25. Unaudited. 4. Not annualized. 5. Annualized.** |

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| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 127 |

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[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Notes to financial statements (unaudited)

------

1. Organization

John Hancock Variable Insurance Trust (the Trust) is a no-load, open-end management investment company organized as a Massachusetts business trust. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act). It is a series company with multiple investment series, eleven of which are presented in this report (the portfolios).

The portfolios may offer multiple classes of shares: Series I, Series II, and Series NAV. The shares currently offered by each portfolio are shown on the Statements of assets and liabilities. Shares of the portfolios are presently offered only to certain affiliates of John Hancock Variable Trust Advisers LLC (the Advisor) and Manulife Financial Corporation except in the case of the Core Bond Trust, Select Bond Trust and Strategic Income Opportunities Trust. Series II and Series NAV of Core Bond Trust, Series II of Select Bond Trust and Series II and Series NAV of Strategic Income Opportunities Trust are also offered to variable insurance products of external insurance companies. Shareholders of each class have exclusive voting rights to matters that affect that class. The distribution and service fees, if any, for each class may differ.

2. Significant accounting policies

The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (US GAAP), which require management to make certain estimates and assumptions as of the date of the financial statements. Actual results could differ from those estimates and those differences could be significant. The portfolios qualify as investment companies under Topic 946 of Accounting Standards Codification of US GAAP.

Events or transactions occurring after the end of the fiscal period through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The following summarizes the significant accounting policies of the portfolios:

**Security valuation. Investments are stated at value as of the scheduled close of regular trading on the New York Stock Exchange (NYSE), normally at 4:00 P.M., Eastern Time. In case of emergency or other disruption resulting in the NYSE not opening for trading or the NYSE closing at a time other than the regularly scheduled close, the net asset value (NAV) may be determined as of the regularly scheduled close of the NYSE pursuant to the Valuation Policies and Procedures of the Advisor, John Hancock Variable Trust Advisers LLC, the portfolios' valuation designee.**

In order to value the securities, the portfolios use the following valuation techniques: Debt obligations are typically valued based on evaluated prices provided by an independent pricing vendor. Independent pricing vendors utilize matrix pricing, which takes into account factors such as institutional-size trading in similar groups of securities, yield, quality, coupon rate, maturity, type of issue, trading characteristics and other market data, as well as broker supplied prices. Equity securities, including exchange-traded or closed-end funds, are typically valued at the last sale price or official closing price on the exchange or principal market where the security trades. In the event there were no sales during the day or closing prices are not available, the securities are valued using the last available bid price. Investments in open-end mutual funds, including John Hancock Collateral Trust (JHCT), are valued at their respective NAVs each business day. Exchange-traded options are valued at the mid-price of the last quoted bid and ask prices from the exchange where the option trades. Unlisted options are generally valued using evaluated prices obtained from an independent pricing vendor. Futures contracts whose settlement prices are determined as of the close of the NYSE are typically valued based on the settlement price while other futures contracts are typically valued at the last traded price on the exchange on which they trade. Foreign equity index futures that trade in the electronic trading market subsequent to the close of regular trading may be valued at the last traded price in the electronic trading market as of 4:00 P.M. ET, or may be fair valued based on fair value adjustment factors provided by an independent pricing vendor in order to adjust for events that may occur between the close of foreign exchanges or markets and the close of the NYSE. Swaps are valued using evaluated prices obtained from an independent pricing vendor. Forward foreign currency contracts are valued at the prevailing forward rates which are based on foreign currency exchange spot rates and forward points supplied by an independent pricing vendor. Foreign securities and currencies are valued in U.S. dollars based on foreign currency exchange rates supplied by an independent pricing vendor.

Securities held by Money Market Trust are valued at amortized cost, in accordance with Rule 2a-7 under the 1940 Act, which approximates market value. The amortized cost method involves valuing a security at its cost on the date of purchase and thereafter assuming a constant amortization to maturity of the difference between the principal amount due at maturity and the cost of the security to the portfolio. The portfolio seeks to maintain a constant NAV per share of $1.00, but there can be no assurance that it will be able to do so.

In certain instances, the Pricing Committee of the Advisor may determine to value equity securities using prices obtained from another exchange or market if trading on the exchange or market on which prices are typically obtained did not open for trading as scheduled, or if trading closed earlier than scheduled, and trading occurred as normal on another exchange or market.

Other portfolio securities and assets, for which reliable market quotations are not readily available, are valued at fair value as determined in good faith by the Pricing Committee following procedures established by the Advisor and adopted by the Board of Trustees. The frequency with which these fair valuation procedures are used cannot be predicted and fair value of securities may differ significantly from the value that would have been used had a ready market for such securities existed. Trading in foreign securities may be completed before the scheduled daily close of trading on the NYSE. Significant events at the issuer or market level may affect the values of securities between the time when the valuation of the securities is generally determined and the close of the NYSE. If a significant event occurs, these securities may be fair valued, as determined in good faith by the Pricing Committee, following procedures established by the Advisor and adopted by the Board of Trustees. The Advisor uses fair value adjustment factors provided by an independent pricing vendor to value certain foreign securities in order to adjust for events that may occur between the close of foreign exchanges or markets and the close of the NYSE.

The portfolios use a three tier hierarchy to prioritize the pricing assumptions, referred to as inputs, used in valuation techniques to measure fair value. Level 1 includes securities valued using quoted prices in active markets for identical securities, including registered investment companies. Level 2 includes securities valued using other significant observable inputs. Observable inputs may include quoted prices for similar securities, interest rates, prepayment speeds and credit risk. Prices for securities valued using these inputs are received from independent pricing vendors and brokers and are based on an evaluation of the inputs described. Level 3 includes securities valued using significant unobservable inputs when market prices are not readily available or reliable, including the Advisor's assumptions in determining the fair value of investments. Factors used in determining value may include market or issuer

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

**Significant accounting policies, continued &nbsp;&nbsp;&nbsp;&nbsp; specific events or trends, changes in interest rates and credit quality. The inputs or methodology used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. Changes in valuation techniques and related inputs may result in transfers into or out of an assigned level within the disclosure hierarchy.**

The following is a summary of the values by input classification of the portfolios' investments as of June 30, 2025, by major security category or type:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total<br> value at<br> 6-30-25** | **Level 1<br> quoted<br> price** | **Level 2<br> significant<br> observable<br> inputs** | **Level 3<br> significant<br> unobservable<br> inputs** |
| **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Government and Agency obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$297185543** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$297185543 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**197940798** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197940798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Municipal bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**166372** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Term loans | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1654193** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1654193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Collateralized mortgage obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**20094218** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20094218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset-backed securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**26593517** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26593517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23420** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**114293** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$114293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6852535** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6852535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$550624889** | &nbsp;&nbsp;&nbsp;**$6966828** | **$543658061** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** |
| **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Government and Agency obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$360753426** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$360753426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign government obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8854575** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8854575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**197832983** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197832983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Municipal bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1019566** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1019566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Collateralized mortgage obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**124785852** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124785852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset-backed securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**75191731** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75191731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**31448925** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$31448925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$799887058** | **$31448925** | **$768438133** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** |
| **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$163891014** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$163891014 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Term loans | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10147063** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9680699 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$466364 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11916** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11916 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**814431** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$814431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Escrow shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9958** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9958 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Escrow certificates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23616** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23616 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11255274** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11255274 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$186153272** | **$12069705** | **$173571713** | **$511854** |
| *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* |
| **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Government and Agency obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$135549076** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$135549076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign government obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5146262** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5146262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**47131911** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47131911 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Municipal bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2819283** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2819283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Collateralized mortgage obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**25160022** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25160022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset-backed securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15974929** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15974929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6161212** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$661212 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$237942695** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$661212** | **$237281483** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

#### Significant accounting policies, continued &nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total<br> value at<br> 6-30-25** | **Level 1<br> quoted<br> price** | **Level 2<br> significant<br> observable<br> inputs** | **Level 3<br> significant<br> unobservable<br> inputs** |
| **Investment Quality Bond Trust (continued)** | **Investment Quality Bond Trust (continued)** | **Investment Quality Bond Trust (continued)** | **Investment Quality Bond Trust (continued)** | **Investment Quality Bond Trust (continued)** |
| **Derivatives:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$364606** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$364606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2223** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2223 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1197486** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1197486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(475499)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(475499) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(83526)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(83526) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(104175)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(104175) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Money Market Trust** | **Money Market Trust** | **Money Market Trust** | **Money Market Trust** | **Money Market Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Government | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$708494991** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$708494991 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Government Agency | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1307074124** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1307074124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Repurchase agreement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**419838000** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;419838000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$2435407115** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | **$2435407115** | **—** |
| **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Government and Agency obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$55422246** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$55422246 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign government obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**59170231** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59170231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**16556050** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16556050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Convertible bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10873038** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10873038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Term loans | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2963465** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2963465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Collateralized mortgage obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7246250** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7246250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset-backed securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3731422** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3731422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15245** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1655339** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1655339 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exchange-traded funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2275442** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2275442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Escrow certificates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11890** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23940898** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23940898 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | &nbsp;&nbsp;&nbsp;&nbsp;**$183861516** | **$27871679** | &nbsp;&nbsp;&nbsp;&nbsp;**$155989837** | **—** |
| **Liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sale commitments outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(8559664)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(8559664) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Derivatives:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**389719** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$389719 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**711929** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;711929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1060758** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1060758 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(52515)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(52515) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1536509)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1536509) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1967698)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1967698) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* |
| **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Government and Agency obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$3124587224** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3124587224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

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[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total<br> value at<br> 6-30-25** | **Level 1<br> quoted<br> price** | **Level 2<br> significant<br> observable<br> inputs** | **Level 3<br> significant<br> unobservable<br> inputs** |
| **Select Bond Trust (continued)** | **Select Bond Trust (continued)** | **Select Bond Trust (continued)** | **Select Bond Trust (continued)** | **Select Bond Trust (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$1617794039** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1617794039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Municipal bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**21214390** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21214390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Collateralized mortgage obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**270510698** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270510698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset-backed securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**410815009** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;410815009 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**72823754** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$72823754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$5517745114** | **$72823754** | **$5444921360** | **—** |
| **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Government and Agency obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$235510815** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$235510815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Municipal bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4792398** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4792398 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Collateralized mortgage obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**822663** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;822663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**387022** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$387022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | &nbsp;&nbsp;&nbsp;&nbsp;**$241512898** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$387022** | &nbsp;&nbsp;&nbsp;&nbsp;**$241125876** | **—** |
| **Derivatives:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$58869** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$58869 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Government and Agency obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$38342643** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$38342643 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign government obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**78851880** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78851880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**179703745** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179703745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Convertible bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6188961** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6188961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Term loans | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**36706887** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36706887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Collateralized mortgage obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23935179** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23935179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset-backed securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6056871** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6056871 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9903181** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9903181 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchased options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5918** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5918 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4281071** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4281071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | &nbsp;&nbsp;&nbsp;&nbsp;**$383976336** | **$14184252** | &nbsp;&nbsp;&nbsp;&nbsp;**$369792084** | **—** |
| **Derivatives:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$369** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**960870** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$960870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(218417)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(218417) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1196523)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1196523) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Written options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(67518)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(67518) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Government and Agency obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$745101269** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$745101269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign government obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8369846** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8369846 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**258697368** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;258697368 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Municipal bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3024001** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3024001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Collateralized mortgage obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15058721** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15058721 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset-backed securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4605276** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4605276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total<br> value at<br> 6-30-25** | **Level 1<br> quoted<br> price** | **Level 2<br> significant<br> observable<br> inputs** | **Level 3<br> significant<br> unobservable<br> inputs** |
| **Total Bond Market Trust (continued)** | **Total Bond Market Trust (continued)** | **Total Bond Market Trust (continued)** | **Total Bond Market Trust (continued)** | **Total Bond Market Trust (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$9101146** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9101146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$1043957627** | **$9101146** | **$1034856481** | **—** |
| **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Government and Agency obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$918868** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$918868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**121486622** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121486622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Collateralized mortgage obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**655023** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;655023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset-backed securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**54699778** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54699778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**51309920** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2887963 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48421957 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | &nbsp;&nbsp;&nbsp;&nbsp;**$229070211** | **$2887963** | &nbsp;&nbsp;&nbsp;&nbsp;**$226182248** | **—** |

---

**Repurchase agreements. The portfolios may enter into repurchase agreements. When the portfolios enter into a repurchase agreement, they receive collateral that is held in a segregated account by the portfolios' custodian, or for tri-party repurchase agreements, collateral is held at a third-party custodian bank in a segregated account for the benefit of the portfolios. The collateral amount is marked-to-market and monitored on a daily basis to ensure that the collateral held is in an amount not less than the principal amount of the repurchase agreement plus any accrued interest. Collateral received by the portfolio for repurchase agreements is disclosed in the Portfolios of investments as part of the caption related to the repurchase agreement.**

Repurchase agreements are typically governed by the terms and conditions of the Master Repurchase Agreement and/or Global Master Repurchase Agreement (collectively, MRA). Upon an event of default, the non-defaulting party may close out all transactions traded under the MRA and net amounts owed. Absent an event of default, assets and liabilities resulting from repurchase agreements are not offset in the Statements of assets and liabilities. In the event of a default by the counterparty, realization of the collateral proceeds could be delayed, during which time the collateral value may decline or the counterparty may have insufficient assets to pay claims resulting from close-out of the transactions.

**When-issued/delayed-delivery securities. The portfolios may purchase or sell securities on a when-issued or delayed-delivery basis, or in a "To Be Announced" (TBA) or "forward commitment" transaction, with delivery or payment to occur at a later date beyond the normal settlement period. TBA securities resulting from these transactions are included in the portfolio or in a schedule to the portfolio (Sale Commitments Outstanding). At the time a portfolio enters into a commitment to purchase or sell a security, the transaction is recorded and the value of the security is reflected in its NAV. The price of such security and the date that the security will be delivered and paid for are fixed at the time the transaction is negotiated. The value of the security may vary with market fluctuations. No interest accrues on debt securities until settlement takes place. At the time that the portfolio enters into this type of transaction, the portfolio is required to have sufficient cash and/or liquid securities to cover its commitments.** 

Certain risks may arise upon entering into when-issued or delayed-delivery securities transactions, including the potential inability of counterparties to meet the terms of their contracts, and the issuer's failure to issue the securities due to political, economic or other factors. Additionally, losses may arise due to changes in the value of the securities purchased or sold prior to settlement date.

**Term loans (Floating rate loans). The portfolios may invest in term loans, which are debt securities and are often rated below investment grade at the time of purchase. Term loans are generally subject to legal or contractual restrictions on resale and generally have longer settlement periods than conventional debt securities. Term loans involve special types of risk, including credit risk, interest-rate risk, counterparty risk, and risk associated with extended settlement. The liquidity of term loans, including the volume and frequency of secondary market trading in such loans, varies significantly over time and among individual loans. During periods of infrequent trading, valuing a term loan can be more difficult and buying and selling a term loan at an acceptable price can be more difficult and delayed, which could result in a loss.** 

The portfolios' ability to receive payments of principal, interest and other amounts in connection with term loans will depend primarily on the financial condition of the borrower. The portfolios' failure to receive scheduled payments on a term loan due to a default, bankruptcy or other reason would adversely affect the portfolios' income and would likely reduce the value of its assets. Transactions in loan investments typically take a significant amount of time (i.e., seven days or longer) to settle. This could pose a liquidity risk to the portfolios and, if the portfolios' exposure to such investments is substantial, it could impair the portfolios' ability to meet redemptions. Because term loans may not be rated by independent credit rating agencies, a decision to invest in a particular loan could depend exclusively on the subadvisor's credit analysis of the borrower and/or term loan agents. There is greater risk that the portfolios may have limited rights to enforce the terms of an underlying loan than for other types of debt instruments.

**Inflation-indexed bonds. Inflation-indexed bonds are securities that generally have a lower coupon interest rate fixed at issuance but whose principal value is periodically adjusted based on a rate of inflation, such as the Consumer Price Index. Over the life of an inflation-indexed bond, interest is paid on the inflation adjusted principal value as described above. Increases in the principal amount of these securities are recorded as interest income. Decreases in the principal amount of these securities may reduce interest income to the extent of income previously recorded. If these decreases are in excess of income previously recorded, an adjustment to the cost of the security is made.**

**Stripped securities. Stripped securities are financial instruments structured to separate principal and interest cash flows so that one class receives principal payments from the underlying assets (PO or principal only), while the other class receives the interest cash flows (IO or interest only). Both PO and IO investments represent an interest in the cash flows of an underlying stripped security. If the underlying assets experience greater than anticipated prepayments of principal, the portfolios may fail to fully recover its initial investment in an IO security. The market value of these securities can be extremely volatile in response to changes in interest rates or prepayments on the underlying securities. In addition, these securities present additional credit risk such that the portfolios may not receive all or part of its principal or interest payments because the borrower or issuer has defaulted on its obligation.**

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

**Significant accounting policies, continued &nbsp;&nbsp;&nbsp;&nbsp; Mortgage and asset-backed securities. The portfolios may invest in mortgage-related securities, such as mortgage-backed securities, and other asset-backed securities, which are debt obligations that represent interests in pools of mortgages or other income-bearing assets, such as consumer loans or receivables. Such securities often involve risks that are different from the risks associated with investing in other types of debt securities. Mortgage-backed and other asset-backed securities are subject to changes in the payment patterns of borrowers of the underlying debt. When interest rates fall, borrowers are more likely to refinance or prepay their debt before its stated maturity. This may result in the portfolios having to reinvest the proceeds in lower yielding securities, effectively reducing the portfolios' income. Conversely, if interest rates rise and borrowers repay their debt more slowly than expected, the time in which the mortgage-backed and other asset-backed securities are paid off could be extended, reducing the portfolios' cash available for reinvestment in higher yielding securities. The timely payment of principal and interest of certain mortgage-related securities is guaranteed with the full faith and credit of the U.S. Government. Pools created and guaranteed by non-governmental issuers, including government-sponsored corporations (e.g., FNMA), may be supported by various forms of insurance or guarantees, but there can be no assurance that private insurers or guarantors can meet their obligations under the insurance policies or guarantee arrangements. The portfolios are also subject to risks associated with securities with contractual cash flows including asset-backed and mortgage related securities such as collateralized mortgage obligations, mortgage pass-through securities and commercial mortgage-backed securities. The value, liquidity and related income of these securities are sensitive to changes in economic conditions, including real estate value, pre-payments, delinquencies and/or defaults, and may be adversely affected by shifts in the market's perception of the issuers and changes in interest rates.**

**Payment-in-kind bonds. The portfolios may invest in payment-in-kind bonds (PIK Bonds). PIK Bonds allow the issuer, at its option, to make current interest payments on the bonds either in cash or in additional bonds. The market prices of PIK Bonds are affected to a greater extent by interest rate changes and thereby tend to be more volatile than securities which pay cash interest periodically. Income on these securities is computed at the contractual rate specified and is added to the principal balance of the bond. This income is required to be distributed to shareholders. Because no cash is received at the time income accrues on these securities, the portfolios may need to sell other investments to make distributions.**

**Security transactions and related investment income. Investment security transactions are accounted for on a trade date plus one basis for daily NAV calculations. However, for financial reporting purposes, investment transactions are reported on trade date. Interest income is accrued as earned. Interest income includes coupon interest and amortization/accretion of premiums/discounts on debt securities. Debt obligations may be placed in a non-accrual status and related interest income may be reduced by stopping current accruals and writing off interest receivable when the collection of all or a portion of interest has become doubtful. Capital gain distributions from underlying funds are recorded on ex-date and reflected as realized gains. Dividend income is recorded on ex-date, except for dividends of certain foreign securities where the dividend may not be known until after the ex-date. In those cases, dividend income, net of withholding taxes, is recorded when the portfolio becomes aware of the dividends. Non-cash dividends, if any, are recorded at the fair market value of the securities received. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds from litigation.**

**Securities lending. The portfolios may lend their securities to earn additional income. The portfolios receive collateral from the borrower in an amount not less than the market value of the loaned securities. The portfolios may invest their cash collateral in JHCT, an affiliate of the portfolios, which has a floating NAV and is registered with the Securities and Exchange Commission (SEC) as an investment company. JHCT is a government money market fund and invests in U.S. Government securities and/or repurchase agreements. Each portfolio will receive the benefit of any gains and bear any losses generated by JHCT with respect to the cash collateral.** 

The portfolios have the right to recall loaned securities on demand. If a borrower fails to return loaned securities when due, then the lending agent is responsible and indemnifies the portfolios for the lent securities. The lending agent uses the collateral received from the borrower to purchase replacement securities of the same issue, type, class and series of the loaned securities. If the value of the collateral is less than the purchase cost of replacement securities, the lending agent is responsible for satisfying the shortfall but only to the extent that the shortfall is not due to any decrease in the value of JHCT.

Although the risk of loss on securities lent is mitigated by receiving collateral from the borrower and through lending agent indemnification, the portfolios could experience a delay in recovering securities or could experience a lower than expected return if the borrower fails to return the securities on a timely basis. During the existence of the loan, the portfolios will receive from the borrower amounts equivalent to any dividends, interest or other distributions on the loaned securities, as well as interest on such amounts. The portfolios receive compensation for lending their securities by retaining a portion of the return on the investment of the collateral and compensation from fees earned from borrowers of the securities. Securities lending income received by the portfolios is net of fees retained by the securities lending agent. Net income received from JHCT is a component of securities lending income as recorded on the Statements of operations.

Obligations to repay collateral received by the portfolios are shown on the Statements of assets and liabilities as Payable upon return of securities loaned and are secured by the loaned securities. The following table summarizes the values of securities loaned by the portfolios and the corresponding cash collateral received at June 30, 2025:

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Market value of securities on loan** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Cash collateral received** |
| Active Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;$1182790 | &nbsp;&nbsp;&nbsp;&nbsp;$1213009 |
| Core Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2098168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2141465 |
| High Yield Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8864836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9055684 |
| Investment Quality Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;648180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;661214 |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3249377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3323392 |
| Select Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9456572 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9659717 |
| Strategic Income Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1145087 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1168595 |
| Total Bond Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;722991 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;738520 |
| Ultra Short Term Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;568893 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;581328 |

---

**Foreign investing. Assets, including investments, and liabilities denominated in foreign currencies are translated into U.S. dollar values each day at the prevailing exchange rate. Purchases and sales of securities, income and expenses are translated into U.S. dollars at the prevailing exchange rate on the date of the transaction. The effect of changes in foreign currency exchange rates on the value of securities is reflected as a component of the realized and unrealized gains (losses) on investments. Foreign investments are subject to a decline in the value of a foreign currency versus the U.S. dollar, which**

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

#### Significant accounting policies, continued &nbsp;&nbsp;&nbsp;&nbsp; reduces the dollar value of securities denominated in that currency.
Portfolios that invest internationally generally carry more risk than portfolios that invest strictly in U.S. securities. These risks are heightened for investments in emerging markets. Risks can result from differences in economic and political conditions, regulations, market practices (including higher transaction costs), accounting standards and other factors.

**Foreign taxes. The portfolios may be subject to withholding tax on income, capital gains or repatriations imposed by certain countries, a portion of which may be recoverable. Foreign taxes are accrued based upon the portfolios' understanding of the tax rules and rates that exist in the foreign markets in which it invests. Taxes are accrued based on gains realized by the portfolios as a result of certain foreign security sales. In certain circumstances, estimated taxes are accrued based on unrealized appreciation of such securities. Investment income is recorded net of foreign withholding taxes.**

**Overdraft. The portfolios may have the ability to borrow from banks for temporary or emergency purposes, including meeting redemption requests that otherwise might require the untimely sale of securities. Pursuant to the portfolios' custodian agreement, the custodian may loan money to the portfolios to make properly authorized payments. The portfolios are obligated to repay the custodian for any overdraft, including any related costs or expenses. The custodian may have a lien, security interest or security entitlement in any portfolio property that is not otherwise segregated or pledged, to the extent of any overdraft, and to the maximum extent permitted by law. Overdrafts at period end, if any, are presented under the caption Due to custodian in the Statements of assets and liabilities.**

**Line of credit. The portfolios and other affiliated funds have entered into a syndicated line of credit agreement with Citibank, N.A. as the administrative agent that enables them to participate in a $1 billion unsecured committed line of credit, which is in effect through July 13, 2026 unless extended or renewed. Excluding commitments designated for certain funds and subject to the needs of all other affiliated funds, a portfolio can borrow up to an aggregate commitment amount of $750 million, subject to asset coverage and other limitations as specified in the agreement.** 

A commitment fee payable at the end of each calendar quarter, based on the average daily unused portion of each line of credit, is charged to each participating portfolio based on an asset-based allocation and is reflected in Other expenses on the Statements of operations. For the six months ended June 30, 2025, the portfolios had no borrowings under the line of credit.

Commitment fees for the six months ended June 30, 2025 were as follows:

---

| | |
|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Commitment fee** |
| Active Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;$1688 |
| Core Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;923 |
| High Yield Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;767 |
| Investment Quality Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;855 |
| Money Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5788 |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;673 |

---

---

| | |
|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Commitment fee** |
| Select Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;$15011 |
| Short Term Government Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;724 |
| Strategic Income Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1371 |
| Total Bond Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2782 |
| Ultra Short Term Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;888 |

---

**Expenses. Within the John Hancock group of funds complex, expenses that are directly attributable to an individual portfolio are allocated to such portfolio. Expenses that are not readily attributable to a specific portfolio are allocated among all portfolios in an equitable manner, taking into consideration, among other things, the nature and type of expense and each portfolio's relative net assets. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.**

**Class allocations. Income, common expenses and realized and unrealized gains (losses) are determined at the portfolio level and allocated daily to each class of shares based on the net assets of the class. Class-specific expenses, such as distribution and service fees, if any, for all classes, are charged daily at the class level based on the net assets of each class and the specific expense rates applicable to each class.**

**Federal income taxes. Each portfolio intends to continue to qualify as a regulated investment company by complying with the applicable provisions of the Internal Revenue Code and will not be subject to federal income tax on taxable income that is distributed to shareholders. Therefore, no federal income tax provision is required.**

For federal income tax purposes, as of December 31, 2024, certain portfolios have capital loss carryforwards available to offset future net realized capital gains. The following table details the capital loss carryforwards available as of December 31, 2024:

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**No Expiration Date** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**No Expiration Date** |
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Short Term** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Long Term** |
| Active Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;$19413929 | &nbsp;&nbsp;&nbsp;&nbsp;$41490370 |
| Core Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54741364 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79983353 |
| High Yield Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3145142 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78068388 |
| Investment Quality Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12383851 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11400283 |
| Money Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12706 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10658988 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11077116 |
| Select Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380860689 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;408265185 |
| Short Term Government Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5136192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28262240 |
| Strategic Income Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3995456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19170448 |
| Total Bond Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11173642 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25403425 |
| Ultra Short Term Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6920738 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21436322 |

---

As of December 31, 2024, the portfolios had no uncertain tax positions that would require financial statement recognition, derecognition or disclosure. The portfolios' federal tax returns are subject to examination by the Internal Revenue Service for a period of three years.

For federal income tax purposes, the costs of investments owned on June 30, 2025, including short-term investments, were as follows:

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

#### Significant accounting policies, continued &nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Aggregate<br> cost** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> (depreciation)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net unrealized<br> appreciation/<br> (depreciation)** |
| Active Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$571255034 | &nbsp;&nbsp;&nbsp;&nbsp;$6081842 | &nbsp;&nbsp;&nbsp;&nbsp;$(26711987) | &nbsp;&nbsp;&nbsp;&nbsp;$(20630145) |
| Core Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;810529578 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7059048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17701568) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10642520) |
| High Yield Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194567619 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2620643 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11034990) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8414347) |
| Investment Quality Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252502420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3173512 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16832122) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13658610) |
| Money Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;2435407115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177514131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4125599 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7732194) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3606595) |
| Select Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;5757428651 | &nbsp;&nbsp;&nbsp;&nbsp;48341289 | &nbsp;&nbsp;&nbsp;&nbsp;(288024826) | &nbsp;&nbsp;&nbsp;&nbsp;(239683537) |
| Short Term Government Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;244374880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;656375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3459488) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2803113) |
| Strategic Income Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;388289264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7323551 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12157698) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4834147) |
| Total Bond Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;1104460885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6720098 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(67223356) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(60503258) |
| Ultra Short Term Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228554235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;787778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(271802) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;515976 |

---

**Distribution of income and gains. Distributions to shareholders from net investment income and net realized gains, if any, are recorded on the ex-date. The portfolios generally declare and pay dividends from net investment income, if any, at least annually with the exception of Money Market Trust, which declares dividends daily and pays monthly from net investment income, if any. Capital gain distributions, if any, are typically distributed annually.**

Distributions paid by the portfolios with respect to each class of shares are calculated in the same manner, at the same time and in the same amount, except for the effect of class level expenses that may be applied differently to each class.

Such distributions, on a tax basis, if any, are determined in conformity with income tax regulations, which may differ from US GAAP. Distributions in excess of tax basis earnings and profits, if any, are reported in the portfolios' financial statements as a return of capital. The final determination of tax characteristics of the portfolios' distribution will occur at the end of the year and will subsequently be reported to shareholders.

Capital accounts within the financial statements are adjusted for permanent book-tax differences at fiscal year end. These adjustments have no impact on net assets or the results of operations. Temporary book-tax differences, if any, will reverse in a subsequent period. Book-tax differences are primarily attributable to straddle loss deferrals, foreign currency transactions, derivative transactions, amortization and accretion on debt securities, and wash sale loss deferrals.

3. Derivative instruments

The portfolios may invest in derivatives in order to meet their investment objective. Derivatives include a variety of different instruments that may be traded in the over-the-counter (OTC) market, on a regulated exchange or through a clearing facility. The risks in using derivatives vary depending upon the structure of the instruments, including the use of leverage, optionality, the liquidity or lack of liquidity of the contract, the creditworthiness of the counterparty or clearing organization and the volatility of the position. Some derivatives involve risks that are potentially greater than the risks associated with investing directly in the referenced securities or other referenced underlying instrument. Specifically, the portfolios are exposed to the risk that the counterparty to an OTC derivatives contract will be unable or unwilling to make timely settlement payments or otherwise honor its obligations. OTC derivatives transactions typically can only be closed out with the other party to the transaction.

Derivatives which are typically traded through the OTC market are regulated by the Commodity Futures Trading Commission (the CFTC). Derivative counterparty risk is managed through an ongoing evaluation of the creditworthiness of all potential counterparties and, if applicable, designated clearing organizations. The portfolios attempt to reduce their exposure to counterparty risk for derivatives traded in the OTC market, whenever possible, by entering into an International Swaps and Derivatives Association (ISDA) Master Agreement with each of their OTC counterparties. The ISDA gives each party to the agreement the right to terminate all transactions traded under the agreement if there is certain deterioration in the credit quality or contractual default of the other party, as defined in the ISDA. Upon an event of default or a termination of the ISDA, the non-defaulting party has the right to close out all transactions and to net amounts owed.

As defined by the ISDA, the portfolios may have collateral agreements with certain counterparties to mitigate counterparty risk on OTC derivatives. Subject to established minimum levels, collateral for OTC transactions is generally determined based on the net aggregate unrealized gain or loss on contracts with a particular counterparty. Collateral pledged to the portfolios, if any, are held in a segregated account by a third-party agent or held by the custodian bank for the benefit of the portfolios and can be in the form of cash or debt securities issued by the U.S. government or related agencies; collateral posted by the portfolios, if any, for OTC transactions is held in a segregated account at the portfolios' custodian and is noted in the accompanying portfolio of investments, or if cash is posted, on the Statements of assets and liabilities. The portfolios' risk of loss due to counterparty risk is equal to the asset value of outstanding contracts offset by collateral received.

Certain derivatives are traded or cleared on an exchange or central clearinghouse. Exchange-traded or centrally-cleared transactions generally present less counterparty risk to a portfolio than OTC transactions. The exchange or clearinghouse stands between the portfolios and the broker to the contract and therefore, credit risk is generally limited to the failure of the exchange or clearinghouse and the clearing member.

Centrally-cleared swap contracts are subject to clearinghouse rules, including initial and variation margin requirements, daily settlement of obligations and the clearinghouse guarantee of payments to the broker. There is, however, still counterparty risk due to the potential insolvency of the broker with respect to any margin held in the brokers' customer accounts. While clearing members are required to segregate customer assets from their own assets, in the event of insolvency, there may be a shortfall in the amount of margin held by the broker for its clients. Collateral or margin requirements for centrally-cleared derivatives are set by the broker or applicable clearinghouse. Margin for centrally-cleared transactions is included in Receivable/Payable for centrally-cleared swaps in the Statements of assets and liabilities. Securities pledged by the portfolios for centrally-cleared transactions, if any, are identified in the Portfolio of investments.

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

**Derivative instruments, continued &nbsp;&nbsp;&nbsp;&nbsp; Futures. A futures contract is a contractual agreement to buy or sell a particular currency or financial instrument at a pre-determined price in the future. Futures are traded on an exchange and cleared through a central clearinghouse. Risks related to the use of futures contracts include possible illiquidity of the futures markets and contract prices that can be highly volatile and imperfectly correlated to movements in the underlying financial instrument and potential losses in excess of the amounts recognized on the Statements of assets and liabilities. Use of long futures contracts subjects the portfolios to the risk of loss up to the notional value of the futures contracts. Use of short futures contracts subjects the portfolios to unlimited risk of loss.**

Upon entering into a futures contract, the portfolios are required to deposit initial margin with the broker in the form of cash or securities. The amount of required margin is set by the broker and is generally based on a percentage of the contract value. The margin deposit must then be maintained at the established level over the life of the contract. Cash that has been pledged by the portfolios, if any, is detailed in the Statements of assets and liabilities as Collateral held at broker for futures contracts. Securities pledged by the portfolios, if any, are identified in the Portfolios of investments. Subsequent payments, referred to as variation margin, are made or received by the portfolios periodically and are based on changes in the market value of open futures contracts. Futures contracts are marked-to-market daily and unrealized gain or loss is recorded by the portfolios. Receivable/Payable for futures variation margin is included in the Statements of assets and liabilities. When the contract is closed, the portfolios record a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed.

The following table details how the portfolios used futures contracts during the six months ended June 30, 2025. In addition, the table summarizes the range of notional contract amounts held by the portfolios, as measured at each quarter end:

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Reason** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**USD Notional range** |
| Active Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against changes in interest rates and manage duration of the portfolio. As of June 30, 2025, there were no open futures contracts. | &nbsp;&nbsp;&nbsp;&nbsp;Up to $14.4 million, as measured during the period |
| High Yield Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage duration of the portfolio. As of June 30, 2025, there were no open futures contracts. | &nbsp;&nbsp;&nbsp;&nbsp;Up to $8.6 million |
| Investment Quality Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against changes in interest rates, gain exposure to certain bond markets and manage duration of the portfolio. | &nbsp;&nbsp;&nbsp;&nbsp;From $37.2 million to $67.9 million |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against changes in interest rates, gain exposure to certain bond markets and manage duration of the portfolio. | &nbsp;&nbsp;&nbsp;&nbsp;From $48.3 million to $56.5 million |
| Select Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against changes in interest rates and manage duration of the portfolio. As of June 30, 2025, there were no open futures contracts. | &nbsp;&nbsp;&nbsp;&nbsp;Up to $150.7 million, as measured during the period |
| Short Term Government Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against changes in interest rates and manage duration of the portfolio. | &nbsp;&nbsp;&nbsp;&nbsp;Up to $15.6 million |
| Strategic Income Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage duration of the portfolio. | &nbsp;&nbsp;&nbsp;&nbsp;From $28.8 million to $50.0 million |

---

**Forward foreign currency contracts. A forward foreign currency contract is an agreement between two parties to buy and sell specific currencies at a price that is set on the date of the contract. The forward contract calls for delivery of the currencies on a future date that is specified in the contract. Forwards are typically traded OTC. Risks related to the use of forwards include the possible failure of counterparties to meet the terms of the forward agreement, the failure of the counterparties to timely post collateral if applicable, and the risk that currency movements will not favor the portfolios thereby reducing the portfolios' total return, and the potential for losses in excess of the amounts recognized on the Statements of assets and liabilities.** 

The market value of a forward foreign currency contract fluctuates with changes in foreign currency exchange rates. Forward foreign currency contracts are marked-to-market daily and the change in value is recorded by the portfolio as an unrealized gain or loss. Realized gains or losses, equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed, are recorded upon delivery or receipt of the currency or settlement with the counterparty.

The following table details how the portfolios used forward foreign currency contracts during the six months ended June 30, 2025. In addition, the table summarizes the range of notional contract amounts held by the portfolios, as measured at each quarter end:

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Reason** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**USD Notional range** |
| High Yield Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against changes in foreign currency exchange rates and to gain exposure to foreign currencies. As of June 30, 2025, there were no open forward contracts. | &nbsp;&nbsp;&nbsp;&nbsp;Up to $519,000 |
| Investment Quality Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against changes in foreign currency exchange rates and to gain exposure to foreign currencies. | &nbsp;&nbsp;&nbsp;&nbsp;From $2.9 million to $4.4 million |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against changes in foreign currency exchange rates and to gain exposure to foreign currencies. | &nbsp;&nbsp;&nbsp;&nbsp;From $120.4 million to $152.1 million |
| Strategic Income Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against changes in foreign currency exchange rates and to enhance potential gain/income. | &nbsp;&nbsp;&nbsp;&nbsp;From $166.9 million to $436.8 million |

---

**Options. There are two types of options, put options and call options. Options are traded either OTC or on an exchange. A call option gives the purchaser of the option the right to buy (and the seller the obligation to sell) the underlying asset at the exercise price. A put option gives the purchaser of the option the right to sell (and the writer the obligation to buy) the underlying asset at the exercise price. Writing puts and buying calls may increase the portfolios' exposure to changes in the value of the underlying instrument. Buying puts and writing calls may decrease the portfolios' exposure to such changes. Risks related to the use of options include the loss of premiums on purchased options, possible illiquidity of the options markets, trading restrictions imposed by an exchange and movements in underlying security values, and for written options, potential losses in excess of the amounts recognized on the Statements of assets and liabilities. In addition, OTC options are subject to the risks of all OTC derivatives contracts.** 

Purchased options are included in the Portfolio of investments and are subsequently "marked-to-market" to reflect current market value. If a purchased option expires, a portfolio realizes a loss equal to the premium paid for the option. Premiums paid for purchased options which are exercised or closed are added to the amounts paid or offset against the proceeds on the underlying asset transaction to determine the realized gain (loss). Written options are included as liabilities in the Statements of assets and liabilities and are "marked-to-market" to reflect the current market value. If the written option expires, a portfolio realizes a gain equal to the premium received. Premiums received from writing options which are exercised or closed are added to the proceeds or offset against amounts paid on the underlying asset transaction to determine the realized gain (loss).

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

**Derivative instruments, continued &nbsp;&nbsp;&nbsp;&nbsp; The following table details how the portfolios used purchased options contracts during the six months ended June 30, 2025. In addition, the table summarizes the range of market value amounts held by the portfolios, as measured at each quarter end:**

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Reason** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Market value range** |
| Strategic Income Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against changes in foreign currency exchange rates. | &nbsp;&nbsp;&nbsp;&nbsp;Up to $6,000 |

---

The following table details how the portfolios used written options contracts during the six months ended June 30, 2025. In addition, the table summarizes the range of market value amounts held by the portfolios, as measured at each quarter end:

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Reason** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Market value range** |
| Strategic Income Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against changes in foreign currency exchange rates. | &nbsp;&nbsp;&nbsp;&nbsp;Up to $68,000 |

---

**Swaps. Swap agreements are agreements between the portfolio and a counterparty to exchange cash flows, assets, foreign currencies or market-linked returns at specified intervals. Swap agreements are privately negotiated in the OTC market (OTC swaps) or may be executed on a registered commodities exchange (centrally cleared swaps). Swaps are marked-to-market daily and the change in value is recorded as a component of unrealized appreciation/depreciation of swap contracts. The value of the swap will typically impose collateral posting obligations on the party that is considered out-of-the-money on the swap.** 

Upfront payments made/received by the portfolios, if any, are amortized/accreted for financial reporting purposes, with the unamortized/unaccreted portion included in the Statement of assets and liabilities. A termination payment by the counterparty or the portfolios is recorded as realized gain or loss, as well as the net periodic payments received or paid by the portfolios.

Entering into swap agreements involves, to varying degrees, elements of credit, market and documentation risk that may provide outcomes that produce losses in excess of the amounts recognized on the Statement of assets and liabilities. Such risks involve the possibility that there will be no liquid market for the swap, or that a counterparty may default on its obligation or delay payment under the swap terms. The counterparty may disagree or contest the terms of the swap. In addition to interest rate risk, market risks may also impact the swap. The portfolios may also suffer losses if it is unable to terminate or assign outstanding swaps or reduce its exposure through offsetting transactions.

**Interest rate swaps. Interest rate swaps represent an agreement between the portfolio and a counterparty to exchange cash flows based on the difference between two interest rates applied to a notional amount. The payment flows are usually netted against each other, with the difference being paid by one party to the other. The portfolios settles accrued net interest receivable or payable under the swap contracts at specified, future intervals.** 

The following table details how the portfolios used interest rate swaps contracts during the six months ended June 30, 2025. In addition, the table summarizes the range of notional contract amounts held by the portfolios, as measured at each quarter end:

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Reason** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**USD Notional range** |
| Investment Quality Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against changes in interest rates and to manage duration of the portfolio. | &nbsp;&nbsp;&nbsp;&nbsp;From $4.4 million to $8.3 million |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against changes in interest rates and to manage duration of the portfolio. | &nbsp;&nbsp;&nbsp;&nbsp;From $30.9 million to $34.5 million |

---

**Credit default swaps. Credit default swaps (CDS) involve the exchange of a fixed rate premium (paid by the Buyer), for protection against the loss in value of an underlying debt instrument, referenced entity or index, in the event of a defined credit event (such as payment default or bankruptcy). Under the terms of the swap, one party acts as a "guarantor" (the Seller), receiving the premium and agreeing to contingent payments that are specified within the credit default agreement. The portfolios may enter into CDS in which it may act as either Buyer or Seller. By acting as the Seller, the portfolios may incur economic leverage since it would be obligated to pay the Buyer the notional amount of the contract in the event of a default. The amount of loss in such case could be significant, but would typically be reduced by any recovery value on the underlying credit.**

#### Credit default swaps — Buyer
The following table details how the portfolios used credit default swap contracts as the buyer during the six months ended June 30, 2025. In addition, the table summarizes the range of notional contract amounts held by the portfolios, as measured at each quarter end:

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Reason** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**USD Notional range** |
| High Yield Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against potential credit events. As of June 30, 2025, there were no open credit default buy contracts. | &nbsp;&nbsp;&nbsp;&nbsp;Up to $818,000 |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against potential credit events. | &nbsp;&nbsp;&nbsp;&nbsp;From $46.6 million to $100.5 million |

---

#### Credit default swaps — Seller
Implied credit spreads are utilized in determining the market value of CDS agreements in which the portfolio is the Seller at period end. The implied credit spread generally represents the yield of the instrument above a credit-risk free rate, such as the U.S. Treasury Bond Yield, and may include upfront payments required to be made to enter into the agreement. It also serves as an indicator of the current status of the payment/performance risk and represents the likelihood or risk of default for the credit derivative. Wider credit spreads represent a deterioration of the referenced entity's creditworthiness and an increased risk of default or other credit event occurring as defined under the terms of the agreement.

For CDS agreements where implied credit spreads are not reported or available, the average credit rating on the underlying index is shown. A deterioration of the referenced entity's creditworthiness would indicate a greater likelihood of a credit event occurring and result in increasing market values, in absolute terms when compared to the notional amount of the swap. The maximum potential amount of future payments (undiscounted) that the portfolio as the Seller could be required to make under any CDS agreement equals the notional amount of the agreement.

The following table details how the portfolios used credit default swap contracts as the seller during the six months ended June 30, 2025. In addition, the table summarizes the range of notional contract amounts held by the portfolios, as measured at each quarter end:

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

#### Derivative instruments, continued &nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Reason** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**USD Notional range** |
| High Yield Trust | &nbsp;&nbsp;&nbsp;&nbsp;To gain credit exposure to an issuer or index. As of June 30, 2025, there were no open credit default sell contracts. | &nbsp;&nbsp;&nbsp;&nbsp;Up to $1.7 million |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;To gain credit exposure to an issuer or index. | &nbsp;&nbsp;&nbsp;&nbsp;From $571,000 to $990,000 |

---

**Inflation swaps. In an inflation swap, one party pays a fixed rate on a notional principal amount while the other party pays a floating rate linked to an inflation index on that same notional amount. The party paying the floating rate pays the inflation adjusted rate multiplied by the notional principal amount. If the average inflation rate over the term of the swap is the same as the fixed rate of the swap, the two legs will have the same value and the swap will break even.** 

The following table details how the portfolios used inflation swaps during the six months ended June 30, 2025. In addition, the table summarizes the range of notional contract amounts held by the portfolios, as measured at each quarter end:

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Reason** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**USD Notional range** |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage exposure to inflation risk. | &nbsp;&nbsp;&nbsp;&nbsp;From $1.9 million to $15.0 million |

---

**Total Return Swaps. The portfolios may enter into total return swap contracts to obtain synthetic exposure to a specific reference asset or index without owning, taking physical custody of, or short selling the underlying assets. Total return swaps are commitments where one party pays a fixed or variable rate premium (the Buyer) in exchange for a market-linked return (the Seller). The Seller pays the total return of a specific reference asset or index and in return receives interest payments from the Buyer. To the extent the total return of the underlying asset or index exceeds or falls short of the offsetting interest rate obligation, the Buyer will receive or make a payment to the Seller. A portfolio may enter into total return swaps in which it may act as either the Buyer or the Seller. Total return swap contracts are subject to the risk associated with the investment in the underlying reference asset or index. The risk in the case of short total return swap contracts is unlimited based on the potential for unlimited increases in the market value of the underlying reference asset or index.**

The following table details how the portfolios used total return swaps during the six months ended June 30, 2025. In addition, the table summarizes the range of notional contract amounts held by the portfolios, as measured at each quarter end:

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Reason** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**USD Notional range** |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;To gain exposure to a security or market without investing directly in such security or market and to exchange the risk/return of one market with another. | &nbsp;&nbsp;&nbsp;&nbsp;From $20.1 million to $33.1 million |

---

#### Fair value of derivative instruments by risk category
The table below summarizes the fair value of derivatives held by the portfolios at June 30, 2025 by risk category:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Risk** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Statements of<br> assets and<br> liabilities location** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Financial<br> instruments<br> location** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Assets<br> derivatives<br> fair value** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Liabilities<br> derivatives<br> fair value** |
| **Investment Quality Bond Trust** | &nbsp;&nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;Receivable/payable for futures variation margin<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$364606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(475499) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;Unrealized appreciation (depreciation) on forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2223 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(83526) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;Swap contracts, at value<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Interest rate swaps | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1197486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(104175) |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$1564315** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(663200)** |
| **Opportunistic Fixed Income Trust** | &nbsp;&nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;Receivable/payable for futures variation margin<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$389719 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(52515) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;Unrealized appreciation (depreciation) on forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;711929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1536509) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Credit | &nbsp;&nbsp;&nbsp;&nbsp;Swap contracts, at value<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Credit default swaps | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;636641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(725565) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;Swap contracts, at value | &nbsp;&nbsp;&nbsp;&nbsp;Total return swaps | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(742255) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;Swap contracts, at value<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Interest rate swaps | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49719 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(499878) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Inflation | &nbsp;&nbsp;&nbsp;&nbsp;Swap contracts, at value | &nbsp;&nbsp;&nbsp;&nbsp;Inflation swaps | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;374398 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$2162406** | &nbsp;&nbsp;&nbsp;&nbsp;**$(3556722)** |
| **Short Term Government Income Trust** | &nbsp;&nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;Receivable/payable for futures variation margin<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$58869 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

#### Derivative instruments, continued &nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Risk** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Statements of<br> assets and<br> liabilities location** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Financial<br> instruments<br> location** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Assets<br> derivatives<br> fair value** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Liabilities<br> derivatives<br> fair value** |
| **Strategic Income Opportunities Trust** | &nbsp;&nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;Receivable/payable for futures variation margin<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(218417) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;Unrealized appreciation (depreciation) on forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;960870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1196523) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;Unaffiliated investments, at value<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Purchased options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5918 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;Written options, at value | &nbsp;&nbsp;&nbsp;&nbsp;Written options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(67518) |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$967157** | &nbsp;&nbsp;&nbsp;&nbsp;**$(1482458)** |

---

<sup>1</sup> Reflects cumulative appreciation/depreciation on open futures as disclosed in the Derivatives section of the Portfolios of investments. Only the period end variation margin receivable/payable is separately reported on the Statements of assets and liabilities.

<sup>2</sup> Reflects cumulative value of swap contracts. Receivable/payable for centrally cleared swaps, which includes value and margin, are shown separately on the Statements of assets and liabilities.

<sup>3</sup> Purchased options are included in Portfolios of investments.

For financial reporting purposes, the portfolios do not offset OTC derivative assets or liabilities that are subject to master netting arrangements, as defined by the ISDAs, in the Statements of assets and liabilities. In the event of default by the counterparty or a termination of the agreement, the ISDA allows an offset of amounts across the various transactions between the portfolio and the applicable counterparty.

The tables below reflect the portfolios' exposure to OTC derivative transactions and exposure to counterparties subject to an ISDA:

---

| | | |
|:---|:---|:---|
| **OTC Financial Instruments** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Asset** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Liability** |
| **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** |
| Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$711929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(1536509) |
| Swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;865608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1053166) |
| **Totals** | &nbsp;&nbsp;&nbsp;&nbsp;**$1577537** | &nbsp;&nbsp;&nbsp;&nbsp;**$(2589675)** |

---

**Opportunistic Fixed Income Trust** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Assets** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Market<br> Value of<br> OTC Derivatives** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Collateral<br> Posted by<br> Counterparty<sup>1</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Collateral Posted<br> by Portfolio<sup>1</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net<br> Exposure** |
| Bank of America, N.A. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$240851 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(21353) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$219498 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$130616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$88882 |
| Barclays Bank PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182707 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(156219) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Citibank, N.A. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79498 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(43357) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36141 |
| Deutsche Bank AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208095 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(345432) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(137337) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$137337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Goldman Sachs International | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121636 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(649626) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(527990) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211586 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(316404) |
| HSBC Bank PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65519 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(129896) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(64377) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1562) |
| JPMorgan Chase Bank, N.A. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;429190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(364703) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64487 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64487 |
| Morgan Stanley & Co. International PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(715162) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(484627) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;318481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(166146) |
| Standard Chartered Bank | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18971 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(147273) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(128302) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(128302) |
| State Street Bank and Trust Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16654) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16119) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16119 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Totals** | &nbsp;&nbsp;&nbsp;&nbsp;**$1577537** | &nbsp;&nbsp;&nbsp;&nbsp;**$(2589675)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(1012138)** | &nbsp;&nbsp;&nbsp;&nbsp;**$157104** | &nbsp;&nbsp;&nbsp;&nbsp;**$746338** | &nbsp;&nbsp;&nbsp;&nbsp;**$(422904)** |
| <sup>1</sup> Reflects collateral posted by the counterparty or posted by the fund, excluding any excess collateral amounts. | <sup>1</sup> Reflects collateral posted by the counterparty or posted by the fund, excluding any excess collateral amounts. | <sup>1</sup> Reflects collateral posted by the counterparty or posted by the fund, excluding any excess collateral amounts. | <sup>1</sup> Reflects collateral posted by the counterparty or posted by the fund, excluding any excess collateral amounts. | <sup>1</sup> Reflects collateral posted by the counterparty or posted by the fund, excluding any excess collateral amounts. | <sup>1</sup> Reflects collateral posted by the counterparty or posted by the fund, excluding any excess collateral amounts. | <sup>1</sup> Reflects collateral posted by the counterparty or posted by the fund, excluding any excess collateral amounts. |

---

#### Effect of derivative instruments on the Statements of operations
The table below summarizes the net realized gain (loss) included in the net increase (decrease) in net assets from operations, classified by derivative instrument and risk category, for the six months ended June 30, 2025:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;&nbsp;**Statements of operations location - Net realized gain (loss) on:** | &nbsp;&nbsp;&nbsp;**Statements of operations location - Net realized gain (loss) on:** | &nbsp;&nbsp;&nbsp;**Statements of operations location - Net realized gain (loss) on:** |  |
| **Portfolio** | &nbsp;&nbsp;&nbsp;**Risk** | &nbsp;&nbsp;&nbsp;**Futures contracts** | &nbsp;&nbsp;&nbsp;**Forward foreign<br> currency contracts** | &nbsp;&nbsp;&nbsp;**Swap contracts** | &nbsp;&nbsp;&nbsp;**Total** |
| **Active Bond Trust** | &nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;$114659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$114659 |
| **High Yield Trust** | &nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;$(66021) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(66021) |
|  | &nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(37815) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(37815) |
|  | &nbsp;&nbsp;&nbsp;Credit | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$78135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78135 |
|  | &nbsp;&nbsp;&nbsp;**Total** | &nbsp;&nbsp;&nbsp;&nbsp;**$(66021)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(37815)** | &nbsp;&nbsp;&nbsp;**$78135** | &nbsp;&nbsp;&nbsp;&nbsp;**$(25701)** |
| **Investment Quality Bond Trust** | &nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;$(523756) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$34974 | &nbsp;&nbsp;&nbsp;&nbsp;$(488782) |
|  | &nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(272376) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(272376) |
|  | &nbsp;&nbsp;&nbsp;**Total** | &nbsp;&nbsp;&nbsp;**$(523756)** | &nbsp;&nbsp;&nbsp;**$(272376)** | &nbsp;&nbsp;&nbsp;**$34974** | &nbsp;&nbsp;&nbsp;**$(761158)** |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

#### Derivative instruments, continued &nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;&nbsp;**Statements of operations location - Net realized gain (loss) on:** | &nbsp;&nbsp;&nbsp;**Statements of operations location - Net realized gain (loss) on:** | &nbsp;&nbsp;&nbsp;**Statements of operations location - Net realized gain (loss) on:** |  |
| **Portfolio** | &nbsp;&nbsp;&nbsp;**Risk** | &nbsp;&nbsp;&nbsp;**Futures contracts** | &nbsp;&nbsp;&nbsp;**Forward foreign<br> currency contracts** | &nbsp;&nbsp;&nbsp;**Swap contracts** | &nbsp;&nbsp;&nbsp;**Total** |
| **Opportunistic Fixed Income Trust** | &nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;$972948 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$664550 | &nbsp;&nbsp;&nbsp;$1637498 |
|  | &nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(3024463) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(3024463) |
|  | &nbsp;&nbsp;&nbsp;Credit | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;446478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;446478 |
|  | &nbsp;&nbsp;&nbsp;Inflation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;732 |
|  | &nbsp;&nbsp;&nbsp;**Total** | &nbsp;&nbsp;&nbsp;&nbsp;**$972948** | &nbsp;&nbsp;&nbsp;**$(3024463)** | &nbsp;&nbsp;&nbsp;**$1111760** | &nbsp;&nbsp;&nbsp;**$(939755)** |
| **Select Bond Trust** | &nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;$1209682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;$1209682 |
| **Short Term Government Income Trust** | &nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(49891) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(49891) |
| **Strategic Income Opportunities Trust** | &nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;$(319718) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(319718) |
|  | &nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(201950) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(201950) |
|  | &nbsp;&nbsp;&nbsp;**Total** | &nbsp;&nbsp;&nbsp;**$(319718)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(201950)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;**$(521668)** |

---

The table below summarizes the net change in unrealized appreciation (depreciation) included in the net increase (decrease) in net assets from operations, classified by derivative instrument and risk category, for the six months ended June 30, 2025:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;&nbsp;**Statements of operations location - Change in net unrealized appreciation (depreciation) of:** | &nbsp;&nbsp;&nbsp;**Statements of operations location - Change in net unrealized appreciation (depreciation) of:** | &nbsp;&nbsp;&nbsp;**Statements of operations location - Change in net unrealized appreciation (depreciation) of:** | &nbsp;&nbsp;&nbsp;**Statements of operations location - Change in net unrealized appreciation (depreciation) of:** | &nbsp;&nbsp;&nbsp;**Statements of operations location - Change in net unrealized appreciation (depreciation) of:** |  |
| **Portfolio** | &nbsp;&nbsp;&nbsp;**Risk** | &nbsp;&nbsp;&nbsp;**Unaffiliated<br> investments and<br> translation of assets<br> and liabilities in<br> foreign currencies<sup>1</sup>** | &nbsp;&nbsp;&nbsp;**Futures contracts** | &nbsp;&nbsp;&nbsp;**Forward foreign<br> currency contracts** | &nbsp;&nbsp;&nbsp;**Written options** | &nbsp;&nbsp;&nbsp;**Swap contracts** | &nbsp;&nbsp;&nbsp;**Total** |
| **High Yield Trust** | &nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$51326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$51326 |
|  | &nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$30768 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30768 |
|  | &nbsp;&nbsp;&nbsp;Credit | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(46528) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(46528) |
|  | &nbsp;&nbsp;&nbsp;**Total** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;**$51326** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$30768** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(46528)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$35566** |
| **Investment Quality Bond Trust** | &nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(303623) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(124375) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(427998) |
|  | &nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(159704) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(159704) |
|  | &nbsp;&nbsp;&nbsp;**Total** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;**$(303623)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(159704)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;**$(124375)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(587702)** |
| **Opportunistic Fixed Income Trust** | &nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$467952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(895171) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(427219) |
|  | &nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(1492829) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1492829) |
|  | &nbsp;&nbsp;&nbsp;Credit | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(430753) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(430753) |
|  | &nbsp;&nbsp;&nbsp;Inflation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(187482) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(187482) |
|  | &nbsp;&nbsp;&nbsp;**Total** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;**$467952** | &nbsp;&nbsp;&nbsp;**$(1492829)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;**$(1513406)** | &nbsp;&nbsp;&nbsp;**$(2538283)** |
| **Short Term Government Income Trust** | &nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$58869 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$58869 |
| **Strategic Income Opportunities Trust** | &nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(561450) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(561450) |
|  | &nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;$(41185) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(5324921) | &nbsp;&nbsp;&nbsp;&nbsp;$13349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5352757) |
|  | &nbsp;&nbsp;&nbsp;**Total** | &nbsp;&nbsp;&nbsp;**$(41185)** | &nbsp;&nbsp;&nbsp;**$(561450)** | &nbsp;&nbsp;&nbsp;**$(5324921)** | &nbsp;&nbsp;&nbsp;**$13349** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;**$(5914207)** |

---

<br> <sup>1</sup> Change in unrealized appreciation/depreciation associated with purchased options is included in this caption on the Statements of operations.

4. Guarantees and indemnifications

Under the Trust's organizational documents, its Officers and Trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust, including the portfolios. Additionally, in the normal course of business, the Trust enters into contracts with service providers that contain general indemnification clauses. The Trust's maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Trust that have not yet occurred. The risk of material loss from such claims is considered remote.

5. Fees and transactions with affiliates

John Hancock Variable Trust Advisers LLC (the Advisor) serves as investment advisor for the portfolios. John Hancock Distributors, LLC (the Distributor), an affiliate of the Advisor, serves as principal underwriter of the portfolios. The Advisor and the Distributor are indirect, principally owned subsidiaries of John Hancock Life Insurance Company (U.S.A.), which in turn is a subsidiary of Manulife Financial Corporation.

**Management fee. Under an investment management agreement, the portfolios pay a daily management fee to the Advisor based on the net assets of the respective portfolio or aggregate net assets, which include the net assets of the respective portfolio and the net assets of a similar portfolio of John Hancock Funds II (JHF II) unless otherwise noted. JHF II portfolios are advised by John Hancock Investment Management LLC, an affiliate of the Advisor, and are distributed by an affiliate of the Advisor, John Hancock Investment Management Distributors LLC. The annual rate for each portfolio is as follows:**

• Active Bond Trust — a) 0.60% of the first $2.5 billion of average net assets; b) 0.575% of average net assets between $2.5 billion and $5.0 billion; and c) 0.55% of the excess over $5.0 billion of average net assets.

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

#### Fees and transactions with affiliates, continued &nbsp;&nbsp;&nbsp;&nbsp;
• Core Bond Trust — a) 0.69% of the first $200 million of aggregate net assets; b) 0.64% of the next $200 million of aggregate net assets; c) 0.57% of the next $600 million of aggregate net assets; d) 0.56% of the next $1 billion of aggregate net assets; and e) 0.55% of the excess over $2 billion of aggregate net assets.

• High Yield Trust — a) 0.625% of the first $75 million of aggregate net assets; b) 0.5625% of the next $75 million of aggregate net assets; c) 0.50% of the next $350 million of aggregate net assets; d) 0.475% of the next $2 billion of aggregate net assets; and e) 0.45% of the excess over $2.5 billion of aggregate net assets. Aggregate net assets include net assets of the portfolio and John Hancock High Yield Fund, a series of John Hancock Bond Trust. Prior to February 7, 2025, the annual rates were a) 0.70% of the first $500 million of aggregate net assets and b) 0.65% of the excess over $500 million of aggregate net assets.

• Investment Quality Bond Trust— a) 0.60% of the first $500 million of average net assets and b) 0.55% of the excess over $500 million of average net assets.

• Money Market Trust — a) 0.50% of the first $500 million of aggregate net assets; b) 0.425% of the next $250 million aggregate net assets; c) 0.375% of the next $250 million aggregate net assets; d) 0.35% of the next $500 million aggregate net assets; e) 0.325% of the next $500 million aggregate net assets; f) 0.30% of the next $500 million aggregate net assets; and g) 0.275% of the excess over $2.5 billion of aggregate net assets. Aggregate net assets include net assets of the portfolio and John Hancock Money Market Fund, a series of John Hancock Current Interest.

• Opportunistic Fixed Income Trust — a) 0.65% of the first $1 billion of aggregate net assets and b) 0.625% of the excess over $1 billion of aggregate net assets.

• Select Bond Trust — a) 0.65% of the first $500 million of average net assets; b) 0.60% of the next $1 billion of average net assets; c) 0.575% of the next $1 billion of average net assets; d) 0.55% of the next $7.5 billion of average net assets; and e) 0.525% of the excess over $10 billion of average net assets.

• Short Term Government Income Trust— a) 0.57% of the first $250 million of aggregate net assets and b) 0.55% of the excess over $250 million of aggregate net assets.

• Strategic Income Opportunities Trust— a) 0.70% of the first $500 million of aggregate net assets; b) 0.65% of the next $3 billion of aggregate net assets; c) 0.60% of the next $4 billion of aggregate net assets; d) 0.59% of the next $4.5 billion of aggregate net assets; and e) 0.575% of the excess over $12 billion of aggregate net assets. Aggregate net assets include the net assets of the portfolio, John Hancock Strategic Income Opportunities Fund, a series of JHF II.

• Total Bond Market Trust — a) 0.47% of the first $1.5 billion of average net assets and b) 0.46% of the excess over $1.5 billion of average net assets.

• Ultra Short Term Bond Trust— a) 0.55% of the first $250 million of average net assets and b) 0.53% of the excess over $250 million of average net assets.

The organizations described below act as the subadvisors to the Trust and certain of its portfolios pursuant to Subadvisory Agreements with the Advisor.Portfolio management is allocated among the following subadvisors.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;**Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Subadvisor(s)** |
| &nbsp;&nbsp;&nbsp;Core Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;Allspring Global Investments, LLC |
| &nbsp;&nbsp;&nbsp;Active Bond Trust<br> High Yield Trust<sup>1</sup> Money Market Trust<br> Select Bond Trust<br> Short Term Government Income Trust<br> Strategic Income Opportunities Trust<br> Total Bond Market Trust<br> Ultra Short Term Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;Manulife Investment Management (US) LLC<sup>2</sup> |
| &nbsp;&nbsp;&nbsp;Investment Quality Bond Trust<br> Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;Wellington Management Company LLP |

---

<sup>1</sup> Prior to February 7, 2025, the subadvisor of the portfolio was Western Asset Management.

<sup>2</sup> An affiliate of the Advisor.

The portfolios are not responsible for payment of the subadvisory fees.

**Expense reimbursements. The Advisor has contractually agreed to waive a portion of its management fee and/or reimburse expenses for certain funds of the John Hancock group of funds complex, including the portfolios (the participating portfolios). This waiver is based upon aggregate net assets of all the participating portfolios. The amount of the reimbursement is calculated daily and allocated among all the participating portfolios in proportion to the daily net assets of each portfolio. During the six months ended June 30, 2025, this waiver amounted to 0.01% of the portfolios' average net assets, on an annualized basis. This agreement expires on July 31, 2027, unless renewed by mutual agreement of the portfolios and the Advisor based upon a determination that this is appropriate under the circumstances at that time.**

The Advisor has contractually agreed to waive its management fee on Money Market Trust and Total Bond Market Trust or, if necessary, make payment to the portfolios in an amount so that the annual operating expenses do not exceed 0.28% and 0.25%, respectively, of the portfolios' average net assets. This waiver includes all expenses except taxes, brokerage commissions, interest expense, short dividends, acquired fund fees, class-specific expenses, borrowing costs, prime brokerage fees, litigation and indemnification expenses and extraordinary expenses not incurred in the ordinary course of the portfolio's business. This agreement expires on April 30, 2026, unless renewed by mutual agreement of the Advisor and the portfolio based upon a determination that this is appropriate under the circumstances at that time.

The Advisor voluntarily agreed to waive a portion of its management fee if certain expenses of the portfolios exceed 0.15% of average net assets for each of the portfolios with the exception of Total Bond Market Trust. Expenses excluded from this waiver are taxes, brokerage commissions, interest expense, litigation and indemnification expenses and other extraordinary expenses not incurred in the ordinary course of the portfolio's business, management fees, Rule 12b-1 fees, underlying fund expenses and short dividends. This expense reduction will continue in effect until terminated by the Advisor.

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

**Fees and transactions with affiliates, continued &nbsp;&nbsp;&nbsp;&nbsp; The Advisor has voluntarily agreed to waive its management fees by 0.02% of the average daily net assets of Opportunistic Fixed Income Trust and Select Bond Trust. These voluntary advisory fee waivers may be terminated at any time by the Advisor upon notice to the Trust.**

The Advisor has voluntarily agreed to waive its management fees by 0.06% of the average daily net assets of Ultra Short Term Bond Trust. This voluntary advisory fee waiver may be terminated at any time by the Advisor upon notice to the Trust.

The Advisor has voluntarily agreed to waive and/or reimburse all class-specific expenses for Series I and Series II shares of the Select Bond Trust to the extent they exceed 0.04% and 0.24%, respectively, of average net assets on an annualized basis attributable to the class (the class expense waiver). This voluntary class specific waiver may be terminated at any time by the Advisor upon notice to the Trust.

For the six months ended June 30, 2025, the expense reductions described above amounted to the following:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Expense reimbursement by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Expense reimbursement by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Expense reimbursement by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Expense reimbursement by class** |
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series I** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series II** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total** |
| Active Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1085 | &nbsp;&nbsp;&nbsp;&nbsp;$4113 | &nbsp;&nbsp;&nbsp;&nbsp;$18092 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$23290 |
| Core Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26291 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32038 |
| High Yield Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23715 | &nbsp;&nbsp;&nbsp;&nbsp;14972 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51093 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89780 |
| Investment Quality Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3871 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8684 |
| Money Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;869710 | &nbsp;&nbsp;&nbsp;&nbsp;23606 | &nbsp;&nbsp;&nbsp;&nbsp;291108 | &nbsp;&nbsp;&nbsp;&nbsp;1184424 |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12200 | &nbsp;&nbsp;&nbsp;&nbsp;23266 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89486 |
| Select Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24783 | &nbsp;&nbsp;&nbsp;&nbsp;66385 | &nbsp;&nbsp;&nbsp;&nbsp;732201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;823369 |
| Short Term Government Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;660 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9610 |
| Strategic Income Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18918 |
| Total Bond Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;440345 | &nbsp;&nbsp;&nbsp;&nbsp;57264 | &nbsp;&nbsp;&nbsp;&nbsp;812727 | &nbsp;&nbsp;&nbsp;&nbsp;1310336 |
| Ultra Short Term Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3229 | &nbsp;&nbsp;&nbsp;&nbsp;61573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13004 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77806 |

---

Expenses waived or reimbursed in the current fiscal period are not subject to recapture in future fiscal periods.

The investment management fees, including the impact of the waivers and reimbursements as described above, incurred for the six months ended June 30, 2025, were equivalent to a net annual effective rate of the portfolio's average daily net assets as follows:

---

| | |
|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net Annual Effective Rate** |
| Active Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.59% |
| Core Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.57% |
| High Yield Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.43% |
| Investment Quality Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.59% |
| Money Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.24% |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.52% |

---

---

| | |
|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net Annual Effective Rate** |
| Select Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.54% |
| Short Term Government Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.56% |
| Strategic Income Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.65% |
| Total Bond Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.20% |
| Ultra Short Term Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.48% |

---

**Accounting and legal services. Pursuant to a service agreement, the portfolios reimburse the Advisor for all expenses associated with providing the administrative, financial, legal, compliance, accounting and recordkeeping services to the portfolios, including the preparation of all tax returns, periodic reports to shareholders and regulatory reports, among other services. These expenses are allocated to each share class based on its relative net assets at the time the expense was incurred. These accounting and legal services fees incurred, for the six months ended June 30, 2025, amounted to an annual rate of 0.02% of the portfolios' average daily net assets.**

**Distribution and service plans. The portfolios have a distribution agreement with the Distributor. The portfolios have adopted distribution and service plans for certain classes as detailed below pursuant to Rule 12b-1 under the 1940 Act, to pay the Distributor for services provided as the distributor of shares of the portfolios. The portfolios may pay up to the following contractual rates of distribution and service fees under these arrangements, expressed as an annual percentage of average daily net assets for each class of the portfolios' shares:**

---

| | |
|:---|:---|
| **Class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Rule 12b-1 Fee** |
| Series I | &nbsp;&nbsp;&nbsp;&nbsp;0.15% |
| Series II | &nbsp;&nbsp;&nbsp;&nbsp;0.35% |

---

Currently, only 0.05% for Series I shares and 0.25% for Series ll shares are charged for Rule 12b-1 fees.

Distribution and service fees for the six months ended June 30, 2025 were as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Distribution and service fees by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Distribution and service fees by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Distribution and service fees by class** |
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series l** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series ll** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total** |
| Active Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;$6344 | &nbsp;&nbsp;&nbsp;&nbsp;$120229 | &nbsp;&nbsp;&nbsp;&nbsp;$126573 |
| Core Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15068 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97408 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112476 |
| High Yield Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36854 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48462 |
| Investment Quality Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60637 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83906 |
| Money Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;419380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476324 |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49600 |
| Select Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430458 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;462604 |
| Short Term Government Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5876 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24486 |
| Strategic Income Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86724 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140773 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Distribution and service fees by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Distribution and service fees by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Distribution and service fees by class** |
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series l** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series ll** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total** |
| Total Bond Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;$82426 | &nbsp;&nbsp;&nbsp;&nbsp;$53597 | &nbsp;&nbsp;&nbsp;&nbsp;$136023 |
| Ultra Short Term Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225173 |

---

**Trustee expenses. The portfolios compensate each Trustee who is not an employee of the Advisor or its affiliates. The costs of paying Trustee compensation and expenses are allocated to each portfolio based on their net assets relative to other funds within the John Hancock group of funds complex.**

**Interfund lending program. Pursuant to an Exemptive Order issued by the SEC, the portfolios, along with certain other funds advised by the Advisor or its affiliates, may participate in an interfund lending program. This program provides an alternative credit facility allowing the portfolios to borrow from, or lend money to, other participating affiliated funds. At period end, open loans, if any, are presented under the caption Receivable/Payable for interfund lending in the Statements of assets and liabilities. Interest expense is included in Other expenses on the Statements of operations. The portfolios' activity in this program during the period for which loans were outstanding was as follows:**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Borrower<br> or Lender** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Weighted Average<br> Loan Balance** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Days<br> Outstanding** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Weighted Average<br> Interest Rate** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Interest Income<br> (Expense)** |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;Lender | &nbsp;&nbsp;&nbsp;&nbsp;$4100000 | &nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp;&nbsp;&nbsp;4.819% | &nbsp;&nbsp;&nbsp;&nbsp;$2744 |

---

6. Portfolio share transactions

Transactions in portfolios' shares for the six months ended June 30, 2025 and for the year ended December 31, 2024 were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Active Bond Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65993 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$542891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;399511 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3305123 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;978956 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(240773) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1990954) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(594682) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4909590) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(174780)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(1448063)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(75786)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(625511)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;701324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5930261 | &nbsp;&nbsp;&nbsp;&nbsp;1216279 | &nbsp;&nbsp;&nbsp;&nbsp;$10069341 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;441125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3626047 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1110942) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9207842) | &nbsp;&nbsp;&nbsp;&nbsp;(2052643) | &nbsp;&nbsp;&nbsp;&nbsp;(17089470) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(409618)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(3277581)** | &nbsp;&nbsp;&nbsp;&nbsp;**(395239)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(3394082)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;396901 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3281433 | &nbsp;&nbsp;&nbsp;&nbsp;1632737 | &nbsp;&nbsp;&nbsp;&nbsp;$13541022 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;1965606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16137624 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1669200) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13809376) | &nbsp;&nbsp;&nbsp;&nbsp;(2780433) | &nbsp;&nbsp;&nbsp;&nbsp;(23091303) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**(1272299)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(10527943)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**817910** | &nbsp;&nbsp;&nbsp;&nbsp;**$6587343** |
| **Total net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**(1856697)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(15253587)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**346885** | &nbsp;&nbsp;&nbsp;&nbsp;**$2567750** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Core Bond Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162238 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1831275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;640781 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7183496 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2269604 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(367500) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4135560) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(863693) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9845736) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(205262)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(2304285)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(19725)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(392636)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;352916 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3958194 | &nbsp;&nbsp;&nbsp;&nbsp;1255516 | &nbsp;&nbsp;&nbsp;&nbsp;$14151894 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2461778 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(400828) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4503771) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(561408) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6325297) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(47912)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(545577)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**914895** | &nbsp;&nbsp;&nbsp;&nbsp;**$10288375** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1252434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$14096922 | &nbsp;&nbsp;&nbsp;&nbsp;2072616 | &nbsp;&nbsp;&nbsp;&nbsp;$23342035 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;2212836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24562479 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(5431132) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(60783452) | &nbsp;&nbsp;&nbsp;&nbsp;(3945403) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(44791131) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**(4178698)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(46686530)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**340049** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$3113383** |
| **Total net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**(4431872)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(49536392)** | &nbsp;&nbsp;&nbsp;&nbsp;**1235219** | &nbsp;&nbsp;&nbsp;&nbsp;**$13009122** |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

#### Portfolio share transactions, continued &nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **High Yield Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;318741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1566914 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1857577 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;698266 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3323747 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(705282) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3408419) | &nbsp;&nbsp;&nbsp;&nbsp;(1725103) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8384700) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(386541)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(1841505)** | &nbsp;&nbsp;&nbsp;&nbsp;**(641726)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(3203376)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$782402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1103506 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;419192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2058235 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(684021) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3427557) | &nbsp;&nbsp;&nbsp;&nbsp;(1095146) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5479250) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(530690)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(2645155)** | &nbsp;&nbsp;&nbsp;&nbsp;**(453637)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(2317509)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;961622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4558882 | &nbsp;&nbsp;&nbsp;&nbsp;2615439 | &nbsp;&nbsp;&nbsp;&nbsp;$12327874 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;1576886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7348289 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1237266) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5872555) | &nbsp;&nbsp;&nbsp;&nbsp;(3910202) | &nbsp;&nbsp;&nbsp;&nbsp;(18501803) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(275644)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(1313673)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**282123** | &nbsp;&nbsp;&nbsp;&nbsp;**$1174360** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(1192875)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(5800333)** | &nbsp;&nbsp;&nbsp;&nbsp;**(813240)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(4346525)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Quality Bond Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;429047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4225322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;747917 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7232143 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346008 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3328599 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1039860) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10077231) | &nbsp;&nbsp;&nbsp;&nbsp;(1367341) | &nbsp;&nbsp;&nbsp;&nbsp;(13307362) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(610813)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(5851909)** | &nbsp;&nbsp;&nbsp;&nbsp;**(273416)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(2746620)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;287872 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2830429 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;651766 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6327232 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1608321 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(491849) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4772681) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(849174) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8262066) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(203977)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(1942252)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(30397)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(326513)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;624898 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6013138 | &nbsp;&nbsp;&nbsp;&nbsp;1110351 | &nbsp;&nbsp;&nbsp;&nbsp;$10726915 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2402374 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1616341) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15560457) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(454744) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4378487) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(991443)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(9547319)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**906639** | &nbsp;&nbsp;&nbsp;&nbsp;**$8750802** |
| **Total net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**(1806233)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(17341480)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**602826** | &nbsp;&nbsp;&nbsp;&nbsp;**$5677669** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Money Market Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;220680600 | &nbsp;&nbsp;&nbsp;&nbsp;$220680600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201180707 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$201180707 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34057137 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34057137 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83631796 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83631796 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(214693851) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(214693851) | &nbsp;&nbsp;&nbsp;&nbsp;(405487171) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(405487171) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**40043886** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$40043886** | &nbsp;&nbsp;&nbsp;&nbsp;**(120674668)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(120674668)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2988 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2988 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1036727 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1036727 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;878553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;878553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2434385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2434385 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5613156) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5613156) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12160832) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12160832) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(4731615)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(4731615)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(8689720)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(8689720)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;279326430 | &nbsp;&nbsp;&nbsp;&nbsp;$279326430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;410499152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$410499152 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11519568 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11519568 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24013694 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24013694 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(162327140) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(162327140) | &nbsp;&nbsp;&nbsp;&nbsp;(346164214) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(346164214) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;**128518858** | &nbsp;&nbsp;&nbsp;&nbsp;**$128518858** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**88348632** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$88348632** |
| **Total net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**163831129** | &nbsp;&nbsp;&nbsp;&nbsp;**$163831129** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(41015756)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(41015756)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Opportunistic Fixed Income Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27312 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$299197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$858067 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630357 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(138380) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1509178) | &nbsp;&nbsp;&nbsp;&nbsp;(267694) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2932359) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(111068)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(1209981)** | &nbsp;&nbsp;&nbsp;&nbsp;**(130693)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(1443935)** |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Opportunistic Fixed Income Trust, Cont'd** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1704411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;272170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2933110 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115946 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1231351 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(393607) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4215626) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(718707) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7668871) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(237542)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(2511215)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(330591)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(3504410)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;333549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3637808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;766139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8348279 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;256332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2760700 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(505877) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5537100) | &nbsp;&nbsp;&nbsp;&nbsp;(2167740) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23797967) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(172328)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(1899292)** | &nbsp;&nbsp;&nbsp;&nbsp;**(1145269)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(12688988)** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(520938)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(5620488)** | &nbsp;&nbsp;&nbsp;&nbsp;**(1606553)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(17637333)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Select Bond Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;506762 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6084126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;960569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11230126 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;416401 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4851070 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1192494) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14037210) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1593531) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18805004) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(685732)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(7953084)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(216561)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(2723808)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4281287 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$50800649 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7832314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$91858171 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1033676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12063002 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6094864) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(71742577) | &nbsp;&nbsp;&nbsp;&nbsp;(11185954) | &nbsp;&nbsp;&nbsp;&nbsp;(132601378) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1813577)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(20941928)** | &nbsp;&nbsp;&nbsp;&nbsp;**(2319964)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(28680205)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3065486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$36348460 | &nbsp;&nbsp;&nbsp;&nbsp;13355275 | &nbsp;&nbsp;&nbsp;&nbsp;$156271946 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;16813267 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195538292 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(46954853) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(551700231) | &nbsp;&nbsp;&nbsp;&nbsp;(30949001) | &nbsp;&nbsp;&nbsp;&nbsp;(368572928) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(43889367)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(515351771)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(780459)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(16762690)** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(46388676)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(544246783)** | &nbsp;&nbsp;&nbsp;&nbsp;**(3316984)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(48166703)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Short Term Government Income Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;314797 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3642413 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251069 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2842906 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16881 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192105 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(403058) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4682352) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(352711) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3984973) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(88261)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(1039939)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(84761)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(949962)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197604 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2289186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;521595 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5911195 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9602 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109272 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(251432) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2892838) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(531713) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6006849) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(53828)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(603652)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(516)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$13618** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;8018676 | &nbsp;&nbsp;&nbsp;&nbsp;$92574637 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4030561 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$45274435 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1053611 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1180414) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13662977) | &nbsp;&nbsp;&nbsp;&nbsp;(5196395) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(58558804) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**6838262** | &nbsp;&nbsp;&nbsp;&nbsp;**$78911660** | &nbsp;&nbsp;&nbsp;&nbsp;**(1073168)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(12230758)** |
| **Total net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**6696173** | &nbsp;&nbsp;&nbsp;&nbsp;**$77268069** | &nbsp;&nbsp;&nbsp;&nbsp;**(1158445)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(13167102)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Strategic Income Opportunities Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;537240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6898922 | &nbsp;&nbsp;&nbsp;&nbsp;1549462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$19712419 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;479518 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6080285 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1694781) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21758919) | &nbsp;&nbsp;&nbsp;&nbsp;(3023104) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(38450188) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(1157541)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(14859997)** | &nbsp;&nbsp;&nbsp;&nbsp;**(994124)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(12657484)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;349465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4508563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;982451 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$12489717 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1629545 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(261680) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3356333) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(296281) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3805563) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**87785** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$1152230** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**814279** | &nbsp;&nbsp;&nbsp;&nbsp;**$10313699** |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Strategic Income Opportunities Trust, Cont'd** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1184410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$14934461 | &nbsp;&nbsp;&nbsp;&nbsp;3583829 | &nbsp;&nbsp;&nbsp;&nbsp;$45847681 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;298483 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3769843 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(4469443) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(56754556) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(424716) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5454450) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**(3285033)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(41820095)** | &nbsp;&nbsp;&nbsp;&nbsp;**3457596** | &nbsp;&nbsp;&nbsp;&nbsp;**$44163074** |
| **Total net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**(4354789)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(55527862)** | &nbsp;&nbsp;&nbsp;&nbsp;**3277751** | &nbsp;&nbsp;&nbsp;&nbsp;**$41819289** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Total Bond Market Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2911727 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$26118333 | &nbsp;&nbsp;&nbsp;&nbsp;6989254 | &nbsp;&nbsp;&nbsp;&nbsp;$62919372 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;1082689 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9635932 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2978274) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(26656490) | &nbsp;&nbsp;&nbsp;&nbsp;(4348375) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(38942030) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(66547)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(538157)** | &nbsp;&nbsp;&nbsp;&nbsp;**3723568** | &nbsp;&nbsp;&nbsp;&nbsp;**$33613274** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;524946 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4742573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;681229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6165637 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132703 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1183714 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(567685) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5092295) | &nbsp;&nbsp;&nbsp;&nbsp;(1303203) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11775158) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(42739)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(349722)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(489271)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(4425807)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;12891991 | &nbsp;&nbsp;&nbsp;&nbsp;$116390851 | &nbsp;&nbsp;&nbsp;&nbsp;6386357 | &nbsp;&nbsp;&nbsp;&nbsp;$58092975 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;2153637 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19167367 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(11866465) | &nbsp;&nbsp;&nbsp;&nbsp;(107092733) | &nbsp;&nbsp;&nbsp;&nbsp;(2917780) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(26144785) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;**1025526** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$9298118** | &nbsp;&nbsp;&nbsp;&nbsp;**5622214** | &nbsp;&nbsp;&nbsp;&nbsp;**$51115557** |
| **Total net increase** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**916240** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$8410239** | &nbsp;&nbsp;&nbsp;&nbsp;**8856511** | &nbsp;&nbsp;&nbsp;&nbsp;**$80303024** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Ultra Short Term Bond Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2497064 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;451202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5119425 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151410 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(208689) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2419826) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(651461) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7378729) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5807** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$77238** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(186977)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(2107894)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;2758660 | &nbsp;&nbsp;&nbsp;&nbsp;$31986945 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4960293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$56280443 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228743 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2607674 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(3014672) | &nbsp;&nbsp;&nbsp;&nbsp;(34987824) | &nbsp;&nbsp;&nbsp;&nbsp;(7667989) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(86895470) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(256012)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(3000879)** | &nbsp;&nbsp;&nbsp;&nbsp;**(2478953)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(28007353)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;621684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7229556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;513225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5790424 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;589772 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(327068) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3792964) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(834883) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9486127) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**294616** | &nbsp;&nbsp;&nbsp;&nbsp;**$3436592** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(269924)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(3105931)** |
| **Total net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**44411** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$512951** | &nbsp;&nbsp;&nbsp;&nbsp;**(2935854)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(33221178)** |

---

Affiliates of the Trust owned 100% of shares of the portfolios, with the exception of Core Bond Trust, Select Bond Trust and Strategic Income Opportunities Trust. For Core Bond Trust, affiliates owned 47.58% and 99.78% of Series II and Series NAV shares, respectively. For Select Bond Trust, affiliates owned 99.89% of Series II shares. For Strategic Income Opportunities Trust, affiliates owned 31.76% and 99.38% of Series II and Series NAV shares, respectively, on June 30, 2025. Such concentration of shareholders' capital could have a material effect on the portfolios if such shareholders redeem from the portfolios.

7. Purchase and sale of securities

Purchases and sales of securities, other than short-term investments, amounted to the following for the six months ended June 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Purchases** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Purchases** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Sales** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Sales** |
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**U.S. Government** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Other issuers** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**U.S. Government** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Other issuers** |
| Active Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$158575704 | &nbsp;&nbsp;&nbsp;&nbsp;$69577426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$164763963 | &nbsp;&nbsp;&nbsp;&nbsp;$71455140 |
| Core Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625999898 | &nbsp;&nbsp;&nbsp;&nbsp;358144832 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;710453461 | &nbsp;&nbsp;&nbsp;&nbsp;319596552 |
| High Yield Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;194837553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;195199541 |
| Investment Quality Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6193780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36437309 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7757976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53445221 |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5205125 | &nbsp;&nbsp;&nbsp;&nbsp;105734685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13518635 | &nbsp;&nbsp;&nbsp;&nbsp;111620599 |
| Select Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;2501173719 | &nbsp;&nbsp;&nbsp;&nbsp;516552581 | &nbsp;&nbsp;&nbsp;&nbsp;2556745177 | &nbsp;&nbsp;&nbsp;&nbsp;936959773 |
| Short Term Government Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;433417975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66956818 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;394842681 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23561750 |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

#### Purchase and sale of securities, continued &nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Purchases** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Purchases** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Sales** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Sales** |
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**U.S. Government** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Other issuers** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**U.S. Government** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Other issuers** |
| Strategic Income Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6302541 | &nbsp;&nbsp;&nbsp;&nbsp;$135985203 | &nbsp;&nbsp;&nbsp;&nbsp;$12557441 | &nbsp;&nbsp;&nbsp;&nbsp;$170588683 |
| Total Bond Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;220971906 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109603185 | &nbsp;&nbsp;&nbsp;&nbsp;199484615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105948851 |
| Ultra Short Term Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63468723 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49519022 |

---

8. Investment in affiliated underlying funds

Certain portfolios may invest in affiliated underlying funds that are managed by the Advisor and its affiliates. Information regarding the portfolios' fiscal year to date purchases and sales of the affiliated underlying funds as well as income and capital gains earned by the portfolios, if any, is as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  |  |  | **Dividends and distributions** | **Dividends and distributions** |  |
| **Affiliate** | **Ending<br> share<br> amount** | **Beginning<br> value** | **Cost of<br> purchases** | **Proceeds<br> from shares<br> sold** | **Realized<br> gain<br> (loss)** | **Change in<br> unrealized<br> appreciation<br> (depreciation)** | **Income<br> distributions<br> received** | **Capital gain<br> distributions<br> received** | **Ending<br> value** |
| **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;&nbsp;685089 | &nbsp;&nbsp;$3717413 | &nbsp;&nbsp;$59998682 | &nbsp;&nbsp;$(56863095) | &nbsp;&nbsp;&nbsp;$(452) | &nbsp;&nbsp;$(13) | &nbsp;&nbsp;$69672 |  | &nbsp;&nbsp;$6852535 |
| **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;&nbsp;214133 | &nbsp;&nbsp;$2352408 | &nbsp;&nbsp;$16522307 | &nbsp;&nbsp;$(16732628) | &nbsp;&nbsp;&nbsp;$(253) | &nbsp;&nbsp;&nbsp;$11 | &nbsp;&nbsp;&nbsp;&nbsp;$3204 |  | &nbsp;&nbsp;$2141845 |
| **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;&nbsp;906054 | $12262146 | &nbsp;&nbsp;$27714649 | &nbsp;&nbsp;$(30912964) | &nbsp;&nbsp;&nbsp;$(514) | $(599) | &nbsp;&nbsp;$36277 |  | &nbsp;&nbsp;$9062718 |
| **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;&nbsp;&nbsp;66105 | &nbsp;&nbsp;&nbsp;&nbsp;$209385 | &nbsp;&nbsp;&nbsp;&nbsp;$3546662 | &nbsp;&nbsp;&nbsp;&nbsp;$(3094804) | &nbsp;&nbsp;&nbsp;&nbsp;$(31) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$1238 |  | &nbsp;&nbsp;&nbsp;&nbsp;$661212 |
| **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;&nbsp;332265 | &nbsp;&nbsp;$2067770 | &nbsp;&nbsp;$18626624 | &nbsp;&nbsp;$(17370561) | &nbsp;&nbsp;&nbsp;$(319) | &nbsp;&nbsp;$(67) | &nbsp;&nbsp;$10256 |  | &nbsp;&nbsp;$3323447 |
| **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** |
| John Hancock Collateral Trust\* | 7280628 | $32684463 | $665909546 | $(625773713) | $2721 | $737 | $642018 |  | $72823754 |
| **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** |
| John Hancock Collateral Trust | &nbsp;&nbsp;&nbsp;&nbsp;38693 | &nbsp;&nbsp;$2158408 | $118663788 | $(120433491) | $(1692) | &nbsp;&nbsp;&nbsp;&nbsp;$9 | &nbsp;&nbsp;$74259 |  | &nbsp;&nbsp;&nbsp;&nbsp;$387022 |
| **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;&nbsp;428004 | $11224211 | &nbsp;&nbsp;$78768790 | &nbsp;&nbsp;$(85712281) | &nbsp;&nbsp;&nbsp;&nbsp;$731 | $(380) | $184702 |  | &nbsp;&nbsp;$4281071 |
| **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;&nbsp;909896 | &nbsp;&nbsp;$9802503 | $173118350 | $(173818481) | $(1487) | $261 | $155872 |  | &nbsp;&nbsp;$9101146 |
| **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;&nbsp;288727 | &nbsp;&nbsp;&nbsp;&nbsp;$270479 | $112833508 | $(110216365) | &nbsp;&nbsp;&nbsp;&nbsp;$327 | &nbsp;&nbsp;&nbsp;$14 | &nbsp;&nbsp;$87546 |  | &nbsp;&nbsp;$2887963 |

---

\* Refer to the Securities lending note within Note 2 for details regarding this investment.

9. Investment by affiliated funds

Certain investors in the portfolios are affiliated funds that are managed by the Advisor and its affiliates. The affiliated funds do not invest in the portfolios for the purpose of exercising management or control; however, this investment may represent a significant portion of the portfolios' net assets. At June 30, 2025, affiliated concentration (as a percentage of the portfolios' net assets) is as follows:

---

| | |
|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Affiliated Concentration** |
| Core Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;49.1% |
| Select Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;90.4% |

---

10. Restricted securities

The portfolios may hold restricted securities which are restricted as to resale and the portfolios have limited rights to registration under the Securities Act of 1933. Disposal may involve time-consuming negotiations and expenses, and prompt sale at an acceptable price may be difficult to achieve. The following table summarizes the restricted securities held at June 30, 2025:

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

#### Restricted securities, continued &nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Issuer,<br> Description** | &nbsp;&nbsp;&nbsp;**Original<br> acquisition date** | &nbsp;&nbsp;&nbsp;**Acquisition<br> cost** | &nbsp;&nbsp;&nbsp;**Beginning<br> share<br> amount** | &nbsp;&nbsp;&nbsp;**Shares<br> purchased** | &nbsp;&nbsp;&nbsp;**Shares<br> sold** | &nbsp;&nbsp;&nbsp;**Ending<br> share<br> amount** | &nbsp;&nbsp;&nbsp;**Value as a<br> percentage of<br> net assets** | &nbsp;&nbsp;&nbsp;**Ending<br> value** |
| **High Yield Trust** |  |  |  |  |  |  |  |  |
| KCAD Holdings I, Ltd. | &nbsp;&nbsp;&nbsp;3-21-11 | &nbsp;&nbsp;&nbsp;$1353651 | &nbsp;&nbsp;&nbsp;165553563 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;165553563 | &nbsp;&nbsp;&nbsp;0.0%<sup>1</sup> | &nbsp;&nbsp;&nbsp;$166 |
| New Cotai, Inc., Class B | &nbsp;&nbsp;&nbsp;4-12-13 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;0.0% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
|  |  |  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;**$166** |

---

<sup>1</sup> Less than 0.05%.

11. Segment reporting

The management committee of the Advisor acts as the portfolios' chief operating decision maker (the CODM), assessing performance and making decisions about resource allocation. Each portfolio represents a single operating segment, as the CODM monitors and assesses the operating results of the portfolio as a whole, and the portfolio's long-term strategic asset allocation is managed in accordance with the terms of its prospectus, based on a defined investment strategy which is executed by the portfolio management team of the portfolio's subadvisor. Segment assets are reflected in the Statements of assets and liabilities as "Total assets", which consists primarily of total investments at value. The financial information, including the measurement of profit and loss and significant expenses, provided to and reviewed by the CODM is consistent with that presented within the Statements of operations, which includes "Increase (decrease) in net assets from operations", Statements of changes in net assets, which includes "Increase (decrease) in net assets from portfolio share transactions", and Financial highlights, which includes total return and income and expense ratios.

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Special shareholder meeting (unaudited)

------

High Yield Trust held a Special Meeting of Shareholders on January 15, 2025. The following proposal was considered by the shareholders:

**Proposal: To approve a new subadvisory agreement between John Hancock Variable Trust Advisers LLC and Manulife Investment Management (US) LLC with respect to High Yield Trust.**

THE PROPOSAL <u>PASSED</u> ON January 15, 2025.

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Shares<br> voted** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**% Of<br> shares voted** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**% Of<br> outstanding<br> shares** |
| **For** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35810634.314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91.398% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91.397% |
| **Against** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100221.317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.808% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.808% |
| **Abstain** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2270430.909 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.794% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.794% |

---

------

[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Evaluation of Advisory and Subadvisory Agreements by the Board of Trustees

------

This section describes the evaluation by the Board of Trustees (the Board) of John Hancock Variable Insurance Trust (the Trust) of the Advisory Agreement (the Advisory Agreement) and each Subadvisory Agreement and Sub-Subadvisory Agreement (collectively, the Subadvisory Agreements) with respect to each of the portfolios of the Trust included in this report (the Funds). The Advisory and Subadvisory Agreements are collectively referred to as the Agreements. Prior to the June 23 - 26, 2025 meeting at which the Agreements were approved, the Board also discussed and considered information regarding the proposed continuation of the Agreements at a meeting held on May 27 - 29, 2025. The Board also receives information relating to the proposed continuation of the Agreements noted above throughout the year on an on-going basis. The Trustees who are not "interested persons" of the Trust as defined by the Investment Company Act of 1940, as amended (the "1940 Act") (the "Independent Trustees") also met separately to evaluate and discuss the information presented, including with counsel to the Independent Trustees and a third-party consulting firm.

#### Approval of Advisory and Subadvisory Agreements
At meetings held on June 23 - 26, 2025, the Board, including the Independent Trustees, reapproved for an annual period, the continuation of the Advisory Agreement between the Trust and the Advisor and the applicable Subadvisory Agreements between the Advisor and the sub-advisors (and sub-subadvisors) (each, a Subadvisor and collectively, the Subadvisors) with respect to each of the Funds in this report.

In considering the Advisory Agreement and the Subadvisory Agreements with respect to each Fund, the Board received in advance of the meetings a variety of materials relating to each Fund, the Advisor and each Subadvisor, including comparative performance, fee and expense information for peer groups of similar funds prepared by an independent third-party provider of fund data; performance information for the Funds' benchmark indices; and, with respect to each Subadvisor, comparative performance information for comparably managed accounts, as applicable; and other information provided by the Advisor and the Subadvisors regarding the nature, extent and quality of services provided by the Advisor and the Subadvisors under their respective Agreements, as well as information regarding the Advisor's revenues and costs of providing services to the Funds and any compensation paid to affiliates of the Advisor. At the meetings at which the renewal of the Advisory Agreement and Subadvisory Agreements are considered, particular focus is given to information concerning Fund performance, comparability of fees and total expenses, and profitability. However, the Board noted that the evaluation process with respect to the Advisor and the Subadvisors is an ongoing one. In this regard, the Board also took into account discussions with management and information provided to the Board (including its various committees) at prior meetings with respect to the services provided by the Advisor and the Subadvisors to the Funds, including quarterly performance reports prepared by management containing reviews of investment results, and periodic presentations from the Subadvisors with respect to the Funds they manage. The information received and considered by the Board both in conjunction with the May and June meetings and throughout the year was both written and oral. The Board noted the affiliation of certain of the Subadvisors with the Advisor, noting any potential conflicts of interest. The Board also considered the nature, quality, and extent of the non-advisory services, if any, to be provided to the Funds by the Advisor's affiliates, including distribution services. The Board considered the Advisory Agreement and the Subadvisory Agreements separately in the course of its review. In doing so, the Board noted the respective roles of the Advisor and the Subadvisors in providing services to the Funds. In addition, although the Board approved the renewal of the Agreements for all of the Funds at the June meeting, the Board considered each Fund separately.

Throughout the process, the Board asked questions of and requested additional information from management. The Board is assisted by counsel for the Trust and the Independent Trustees are also separately assisted by independent legal counsel throughout the process. The Independent Trustees also received a memorandum from their independent counsel discussing the legal standards

for their consideration of the proposed continuation of the Agreements and discussed the proposed continuation of the Agreements in private sessions with their independent legal counsel at which no representatives of management were present.

#### Approval of Advisory Agreement
In approving the Advisory Agreement with respect to each Fund, the Board, including the Independent Trustees, considered a variety of factors, including those discussed below. The Board also considered other factors (including conditions and trends prevailing generally in the economy, the securities markets and the industry) and did not treat any single factor as determinative, and each Trustee may have attributed different weights to different factors. The Board's conclusions may be based in part on its consideration of the advisory and subadvisory arrangements in prior years and on the Board's ongoing regular review of Fund performance and operations throughout the year.

*<u>Nature, extent, and quality of services.</u> Among the information received by the Board from the Advisor relating to the nature, extent, and quality of services provided to the Funds, the Board reviewed information provided by the Advisor relating to its operations and personnel, descriptions of its organizational and management structure, and information regarding the Advisor's compliance and regulatory history, including its Form ADV. The Board also noted that on a regular basis it receives and reviews information from the Trust's Chief Compliance Officer (CCO) regarding the Funds' compliance policies and procedures established pursuant to Rule 38a-1 under the 1940 Act. The Board observed that the scope of services provided by the Advisor, and of the undertakings required of the Advisor in connection with those services, including maintaining and monitoring its own and the Fund's compliance programs, risk management programs, liquidity risk management programs, derivatives risk management programs, and cybersecurity programs, had expanded over time as a result of regulatory, market and other developments. The Board considered that the Advisor is responsible for the management of the day-to-day operations of the Funds, including but not limited to, general supervision of and coordination of the services provided by the Subadvisors, and is also responsible for monitoring and reviewing the activities of the Subadvisors and other third-party service providers. The Board also considered the significant risks assumed by the Advisor in connection with the services provided to the Funds including entrepreneurial risk in sponsoring new Funds and ongoing risks including investment, operational, enterprise, litigation, regulatory and compliance risks with respect to all Funds.*

In considering the nature, extent, and quality of the services provided by the Advisor, the Trustees also took into account their knowledge of the Advisor's management and the quality of the performance of the Advisor's duties, through Board meetings, discussions and reports during the preceding year and through each Trustee's experience as a Trustee of the Trust and of the other trusts in the complex.

In the course of their deliberations regarding the Advisory Agreement, the Board considered, among other things:

(a) the skills and competency with which the Advisor has in the past managed the Trust's affairs and its subadvisory relationships, the Advisor's oversight and monitoring of the Subadvisors' investment performance and compliance programs, such as the Subadvisors' compliance with fund policies and objectives, review of brokerage matters including with respect to trade allocation and best execution, and the Advisor's timeliness in responding to performance issues;

(b) the background, qualifications and skills of the Advisor's personnel;

(c) the Advisor's compliance policies and procedures and its responsiveness to regulatory changes and fund industry developments;

(d) the Advisor's administrative capabilities, including its ability to supervise the other service providers for the Funds, as well as the Advisor's oversight of any securities lending activity, its monitoring of class action litigation and collection of class action settlements on behalf of the Funds, and bringing loss recovery actions on behalf of the Funds;

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[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Evaluation of Advisory and Subadvisory Agreements by the Board of Trustees

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(e) the financial condition of the Advisor and whether it has the financial wherewithal to provide a high level and quality of services to the Funds;

(f) the Advisor's initiatives intended to improve various aspects of the Trust's operations and investor experience with the Funds; and

(g) the Advisor's reputation and experience in serving as an investment advisor to the Trust and the benefit to contract holders of investing in funds that are part of a family of variable insurance portfolios offering a variety of investments.

The Board concluded that the Advisor may reasonably be expected to continue to provide a high quality of services under the Advisory Agreement with respect to the Funds.

*<u>Investment performance</u>. In considering each Fund's performance, the Board noted that it reviews at its regularly scheduled meetings information about the Funds' performance results. In connection with the consideration of the Advisory Agreement, the Board:*

(a) reviewed information prepared by management regarding the Funds' performance;

(b) considered the comparative performance of each Fund's respective benchmark;

(c) considered the performance of comparable funds, if any, as included in the report prepared by an independent third-party provider of fund data; and

(d) took into account the Advisor's analysis of each Fund's performance and its plans and recommendations regarding the Trust's subadvisory arrangements generally and with respect to particular Funds.

The Board noted that while it found the data provided by the independent third-party generally useful it recognized its limitations, including in particular that the data may vary depending on the end date selected and that the results of the performance comparisons may vary depending on the selection of the peer group. The Board concluded that the performance of each of the Funds has generally been in line with or generally outperformed the historical performance of comparable funds based on the median percentile and/or the Fund's respective benchmark, with certain exceptions noted in Appendix A. In such cases, the Board considered steps the Advisor had taken or plans to take to address performance and concluded that such performance is being monitored and reasonably being addressed.

*<u>Fees and expenses.</u> The Board reviewed comparative information prepared by an independent third-party provider of fund data including, among other data, each Fund's contractual and net management fees (and subadvisory fees, to the extent available) and total expenses as compared to similarly situated investment companies deemed to be comparable to the Fund in light of the nature, extent and quality of the management and subadvisory services provided by the Advisor and the Subadvisors. The Board considered each Fund's ranking within a smaller group of peer funds chosen by the independent third-party provider, as well as the Fund's ranking within broader groups of funds. In comparing each Fund's contractual and net management fees to that of comparable funds, the Board noted that such fee includes both advisory and administrative costs.*

The Board took into account management's discussion with respect to the overall management fee, the fees of each Subadvisor, including the amount of the advisory fee retained by the Advisor after payment of the subadvisory fees, in each case in light of the services rendered for those amounts and the risks undertaken by the Advisor. The Board also noted that, in addition, the Advisor is currently waiving fees and/or reimbursing expenses with respect to certain of the Funds. The Board also noted that the Advisor pays the subadvisory fees of the Funds, and that such fees are negotiated at arm's length with respect to unaffiliated Subadvisors. In addition, the Board noted that the Advisor continued advisory and subadvisory fee reductions in the past year with respect to several Funds. The Board also took into account that management had agreed to implement an overall fee waiver across the complex, which is discussed further below. The Board also noted management's discussion of the

Funds' expenses, as well as certain actions taken over the past several years to reduce the Funds' operating expenses. The Board reviewed information provided by the Advisor concerning investment advisory fees charged to other clients (including other funds in the complex) having similar investment mandates, if any. The Board considered any differences between the Advisor's and Subadvisor's services to a Fund and the services they provide to other such comparable clients or funds. The Board concluded that the advisory fee paid with respect to each of the Funds is reasonable in light of the nature, extent and quality of the services provided to the Funds under the Advisory Agreement.

*<u>Profitability/Fall out benefits</u>. In considering the costs of the services to be provided and the profits to be realized by the Advisor and its affiliates (including the Subadvisors that are affiliated with the Advisor) from the Advisor's relationship with the Trust, the Board:*

(a) reviewed financial information of the Advisor;

(b) reviewed and considered (i) information presented by the Advisor regarding the net profitability to the Advisor and its affiliates, of each Fund; and (ii) the representation by the John Hancock insurance companies in registration statements for registered variable insurance contracts using the Funds as investment options in registered separate accounts, that the fees and charges deducted under their variable insurance contracts (including the fees and expenses of the Trust), in the aggregate, are reasonable in relation to the services rendered, the expenses expected to be incurred and the risks assumed by such companies;

(c) received and reviewed profitability information with respect to the John Hancock fund complex as a whole and with respect to each Fund;

(d) received information with respect to the Advisor's allocation methodologies used in preparing the profitability data and considered that the Advisor hired an independent third-party consultant to provide an analysis of the Advisor's allocation methodologies;

(e) considered fall out benefits to the Advisor, including (but not limited to), benefits to affiliates, such as that the John Hancock insurance companies that are affiliates of the Advisor, as shareholders of the Trust directly or through their separate accounts, receive certain tax credits or deductions relating to foreign taxes paid and dividends received by certain Funds of the Trust and noted that these tax benefits, which are not available to contract holders under applicable income tax law, are reflected in the profitability analysis reviewed by the Board;

(f) considered that the Advisor also provides administrative services to the Funds on a cost basis pursuant to an administrative services agreement;

(g) noted that certain of the Funds' Subadvisors are affiliates of the Advisor;

(h) noted that affiliates of the Advisor provide distribution services to the Funds, and that the Trust's distributor also receives Rule 12b-1 payments to support distribution of the products;

(i) noted that the Advisor also derives reputational and other indirect benefits from providing advisory services to the Funds;

(j) noted that the subadvisory fees for the Funds are paid by the Advisor and are negotiated at arm's length with respect to the unaffiliated Subadvisors;

(k) considered the Advisor's ongoing costs and expenditures necessary to improve services, meet new regulatory and compliance requirements, and adapt to other challenges impacting the fund industry; and

(l) considered that the Advisor should be entitled to earn a reasonable level of profits in exchange for the level of services it provides to each Fund and the risks that it assumes as Advisor, including entrepreneurial, operational, reputational, litigation and regulatory risk.

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[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Evaluation of Advisory and Subadvisory Agreements by the Board of Trustees

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Based upon its review, the Board concluded that the level of profitability, if any, of the Advisor and its affiliates (including any Subadvisors that are affiliated with the Advisor), from their relationship with each Fund was reasonable and not excessive.

*<u>Economies of scale.</u> In considering the extent to which economies of scale would be realized as a Fund grows and whether fee levels reflect these economies of scale for the benefit of Fund shareholders, the Board:*

(a) with respect to each Fund (except those discussed specifically below), considered that the Advisor has agreed to waive a portion of its management fee for such Fund and for each of the other John Hancock funds in the complex (except as discussed below) (the Participating Portfolios) or otherwise reimburse the expenses of the Participating Portfolios (the Reimbursement). This waiver is based on the aggregate net assets of all the Participating Portfolios. The Board also noted that the Advisor had implemented additional breakpoints to the complex-wide fee waiver in recent years.

(The Funds that are not Participating Portfolios as of the date of this annual report are each of the funds of funds of the Trust and John Hancock Funds II and John Hancock Collateral Trust. These funds of funds also benefit from such overall management fee waiver through their investment in underlying portfolios that include certain of the Participating Portfolios, which are subject to the Reimbursement.)

(b) reviewed the Trust's advisory fee structure and the incorporation therein of any subadvisory fee breakpoints in the advisory fees charged and concluded that (i) most of the Funds' fee structures contain breakpoints at the subadvisory fee level and that such breakpoints are reflected as breakpoints in the advisory fees for Funds and (ii) although economies of scale cannot be measured with precision, these arrangements permit shareholders of Funds with advisory fee breakpoints to benefit from economies of scale if those Funds grow. The Board also took into account management's discussion of the Funds' advisory fee structure, including with respect to those Funds that did not currently have breakpoints; and

(c) the Board also considered the effect of the Funds' growth in size on their performance and fees. The Board also noted that if the Funds' assets increase over time, the Funds may realize other economies of scale.

#### Approval of Subadvisory Agreements
In making its determination with respect to approval of the Subadvisory Agreements, the Board reviewed:

(1) information relating to the Subadvisor's business, including current subadvisory services to the Trust (and other funds in the John Hancock group of funds);

(2) the historical and current performance of each Fund and comparative performance information relating to the Fund's benchmark and comparable funds based on the median percentile;

(3) the subadvisory fee for each Fund, including any breakpoints, and comparative fee information, where available, prepared by an independent third-party provider of fund data; and

(4) information relating to the nature and scope of any material relationships and their significance to the Trust's Advisor and Subadvisors.

*<u>Nature, extent, and quality of services</u>. With respect to the services provided by each of the Subadvisors with respect to each Fund, the Board received information provided to the Board by each Subadvisor, including each Subadvisor's Form ADV, as well as took into account information presented throughout the past year. The Board considered each Subadvisor's current level of staffing and its overall resources, as well as received information relating to a Subadvisor's compensation program. The Board reviewed each Subadvisor's history and investment experience, as well as information regarding the qualifications, background and responsibilities of the Subadvisor's investment and compliance personnel who provide services to the Funds. The Board also considered, among other things, the Subadvisor's compliance program and any*

disciplinary history. The Board also considered the Subadvisor's risk assessment and monitoring process. The Board reviewed each Subadvisor's regulatory history, including whether it was currently involved in any regulatory actions or investigations as well as material litigation, and any settlements and amelioratory actions undertaken, as appropriate. The Board noted that the Advisor conducts regular, periodic reviews of each Subadvisor and its operations, including regarding investment processes and organizational and staffing matters. The Board also noted that the CCO and his staff conduct regular, periodic compliance reviews with each of the Subadvisors and present reports to the Independent Trustees regarding the same, which includes evaluating the regulatory compliance systems of the Subadvisors and procedures reasonably designed by them to assure compliance with the federal securities laws. The Board also took into account the financial condition of each Subadvisor.

The Board considered each Subadvisor's investment process and philosophy. The Board took into account that each Subadvisor's responsibilities include the development and maintenance of an investment program for the applicable Fund which is consistent with the Fund's investment objectives, the selection of investment securities and the placement of orders for the purchase and sale of such securities, as well as the implementation of compliance controls related to performance of these services. The Board also received information with respect to each Subadvisor's brokerage policies and practices, including with respect to best execution and soft dollars.

*<u>Subadvisor compensation</u>. In considering the cost of services to be provided by each Subadvisor and the profitability to that Subadvisor of its relationship with the Fund, the Board noted that the fees under the Subadvisory Agreements are paid by the Advisor and not the Funds. The Board also relied on the ability of the Advisor to negotiate each Subadvisory Agreement with Subadvisors that are not affiliated with the Advisor and the fees thereunder at arm's length. As a result, the costs of the services to be provided and the profits to be realized by unaffiliated Subadvisors from their relationship with the Trust were not a material factor in the Board's consideration of the Subadvisory Agreements.*

The Board also received information regarding the nature and scope (including their significance to the Advisor and its affiliates and to unaffiliated Subadvisors) of any material relationships with respect to the unaffiliated Subadvisors, which include arrangements in which unaffiliated Subadvisors or their affiliates provide advisory, distribution or management services in connection with financial products sponsored by the Trust's Advisor or its affiliates, and may include shares of the Trust, other registered investment companies, a 529 education savings plan, managed separate accounts and exempt group annuity contracts sold to qualified plans. The Board also received information and took into account any other potential conflicts of interests the Advisor might have in connection with the Subadvisory Agreements.

In addition, the Board considered other potential indirect benefits that the Subadvisors and their affiliates may receive from the Subadvisor's relationship with the Fund, such as the opportunity to provide advisory services to additional portfolios of the Trusts and reputational benefits.

*<u>Subadvisory fees</u>. The Board considered that the Fund pays an advisory fee to the Advisor and that, in turn, the Advisor pays a subadvisory fee to each Subadvisor. As noted above, the Board also considered, if available, each Fund's sub-advisory fees as compared to similarly situated investment companies deemed to be comparable to the Fund as included in the report prepared by the independent third party provider of fund data. The Board also took into account the sub-advisory fees paid by the Advisor to fees charged by each Fund's Subadvisor to manage other sub-advised portfolios and portfolios not subject to regulation under the 1940 Act, as applicable.*

*<u>Subadvisor performance</u>. As noted above, the Board considered each Fund's performance as compared to the Fund's respective peer group based on the median percentile and benchmark and noted that the Board reviews information about the Fund's performance results at its regularly scheduled meetings. The Board noted the Advisor's expertise and resources in monitoring the performance, investment style, and risk-adjusted performance of each*

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[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Evaluation of Advisory and Subadvisory Agreements by the Board of Trustees

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Subadvisor. The Board was mindful of the Advisor's focus on each Subadvisor's performance. The Board also noted each Subadvisor's long-term performance record for similar accounts, as applicable.

The Board's decision to approve the Subadvisory Agreement with respect to each Fund was based on a number of determinations, including the following:

(1) Each Subadvisor has extensive experience and demonstrated skills as a manager;

(2) Although not without variation, the performance of each Fund managed by a Subadvisor generally has been in line with or outperformed the historical performance of comparable funds and the Fund's
respective benchmarks based on the median percentile, with the exceptions noted in Appendix A (with respect to such exceptions, the Board considered the steps the Subadvisor had taken or plans to take to address
performance and concluded that performance is being monitored and reasonably being addressed);

(3) The subadvisory fees are reasonable in relation to the level and quality of services being provided under the Subadvisory Agreement; and

(4) With respect to those Funds that have subadvisory fees that contain breakpoints, certain breakpoints are reflected as breakpoints in the advisory fees for the Funds in order to permit shareholders to
benefit from economies of scale if those Funds grow.

*Additional information relating to each Fund's fees and expenses and performance that the Board considered in approving the Advisory Agreement and Subadvisory Agreement for a particular Fund is set forth in Appendix A.*

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Based on their evaluation of all factors that they deemed to be material, including those factors described above, the Board, including the Independent Trustees, concluded that renewal of the Advisory Agreement and each of the Subadvisory Agreements with respect to each Fund would be in the best interest of each of the respective Funds and its shareholders. Accordingly, the Board, and the Independent Trustees voting separately, approved the Advisory Agreement and Subadvisory Agreement with respect to each Fund for an additional one-year period.

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[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Appendix A

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| | | | |
|:---|:---|:---|:---|
| **Portfolio (Subadvisor)** | &nbsp;&nbsp;&nbsp;**Performance as of 12/31/2024** | &nbsp;&nbsp;&nbsp;**Fees and Expenses** | &nbsp;&nbsp;&nbsp;**Comments** |
| Active Bond Trust<br>(Manulife Investment Management (US) LLC) | &nbsp;&nbsp;Benchmark Index – The Trust outperformed the benchmark index for the one-, three-, five- and ten-year periods.<br>Broadridge Category – The Trust underperformed the peer group median for the one-year period and outperformed the peer group median for the three-, five- and ten-year periods. | &nbsp;&nbsp;Subadvisor fee comparative data not provided due to limited size of Broadridge peer group for this purpose.<br>Net management fees for this Trust are higher than the peer group median.<br>Net total expenses for this Trust are lower than the peer group median. | &nbsp;&nbsp;The Board took into account management's discussion of the factors that contributed to the Trust's performance relative to the peer group median for the one-year period.<br>The Board noted the Trust's favorable performance relative to the benchmark index for the one-, three-, five- and ten-year periods and to the peer group median for the three-, five- and ten-year periods.<br>The Board took into account management's discussion of the Trust's expenses. The Board noted the Trust's net total expenses are lower than the peer group median. |
| Core Bond Trust<br>(Allspring Global Investments, LLC) | &nbsp;&nbsp;Benchmark Index – The Trust underperformed the benchmark index for the one-, three-, five- and ten-year periods.<br>Broadridge Category – The Trust outperformed the peer group median for the one-year period and underperformed the peer group median for the three-, five-and ten-year periods. | &nbsp;&nbsp;The subadvisor fees for this Trust are equal to the peer group median.<br>Net management fees for this Trust are higher than the peer group median.<br>Net total expenses for this Trust are higher than the peer group median. | &nbsp;&nbsp;The Board took into account management's discussion of the Trust's performance relative to the benchmark index for the one-, three-, five- and ten-year periods and to the peer group median for the three-, five- and ten-year periods, including the impact of past and current market conditions on the Trust's strategy and management's plans for the Trust.<br>The Board noted the Trust's favorable performance relative to the peer group median for the one-year period.<br>The Board took into account management's discussion of the Trust's expenses. |

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[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Appendix A

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| | | | |
|:---|:---|:---|:---|
| **Portfolio (Subadvisor)** | &nbsp;&nbsp;&nbsp;**Performance as of 12/31/2024** | &nbsp;&nbsp;&nbsp;**Fees and Expenses** | &nbsp;&nbsp;&nbsp;**Comments** |
| High Yield Trust<br>(Manulife Investment Management (US), LLC) | &nbsp;&nbsp;Benchmark Index – The Trust outperformance the benchmark index for the one-year period and underperformed the benchmark index for the three-, five- and ten-year periods.<br>Broadridge Category – The Trust outperformed the peer group median for the one- and five-year periods and underperformed the peer group median for the three-, and ten-year periods. | &nbsp;&nbsp;Subadvisor fee comparative data not provided due to limited size of Broadridge peer group for this purpose.<br>Net management fees for this Trust are higher than the peer group median.<br>Net total expenses for this Trust are lower than the peer group median. | &nbsp;&nbsp;The Board took into account management's discussion of the factors that contributed to the Trust's performance relative to the benchmark index for the three-, five- and ten-year periods and to the peer group median for the three- and ten-year periods, including that the Trust's performance prior to February 2025 represents that of the prior subadvisor. <br>The Board noted the Trust's favorable performance relative to the benchmark index for the one-year period and to the peer group median for the one- and five-year periods.<br>The Board took into account management's discussion of the Trust's expenses. The Board noted the Trust's net total expenses are lower than the peer group median. |
| Investment Quality Bond Trust<br>(Wellington Management Company LLP) | &nbsp;&nbsp;Benchmark Index – The Trust outperformed the benchmark index for the one-, five- and ten-year periods and underperformed the benchmark index for the three-year period.<br>Broadridge Category – The Trust underperformed the peer group median for the one-, three- and five-year periods and outperformed the peer group median for the ten-year period. | &nbsp;&nbsp;Subadvisor fee comparative data not provided due to limited size of Broadridge peer group for this purpose.<br>Net management fees for this Trust are higher than the peer group median.<br>Net total expenses for this Trust are lower than the peer group median. | &nbsp;&nbsp;The Board took into account management's discussion of the factors that contributed to the Trust's performance relative to the benchmark index for the three-year period and to the peer group median for the one-, three- and five-year periods.<br>The Board noted the Trust's favorable performance relative to the benchmark index for the one-, five- and ten-year periods and to the peer group median for the ten-year period.<br>The Board took into account management's discussion of the Trust's expenses. The Board noted the Trust's net total expenses are lower than the peer group median. |
| Money Market Trust<br>(Manulife Investment Management (US) LLC) | &nbsp;&nbsp;Benchmark Index – The Trust underperformed the benchmark index for the one-, three-, five- and ten-year periods.<br>Broadridge Category – The Trust outperformed the peer group median for the one-, three-, five- and ten-year periods. | &nbsp;&nbsp;The subadvisor fees for this Trust are lower than the peer group median.<br>Net management fees for this Trust are lower than the peer group median.<br>Net total expenses for this Trust are lower than the peer group median. | &nbsp;&nbsp;The Board took into account management's discussion of the Trust's performance relative to the benchmark index for the one-, three-, five- and ten-year periods.<br>The Board noted the Trust's favorable performance relative to the peer group median for the one-, three-, five- and ten-year periods.<br>The Board noted the Trust's net management fees and net total expenses are lower than the peer group median. |

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[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Appendix A

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| | | | |
|:---|:---|:---|:---|
| **Portfolio (Subadvisor)** | &nbsp;&nbsp;&nbsp;**Performance as of 12/31/2024** | &nbsp;&nbsp;&nbsp;**Fees and Expenses** | &nbsp;&nbsp;&nbsp;**Comments** |
| Opportunistic Fixed Income Trust<br>(Wellington Management Company LLP) | &nbsp;&nbsp;Benchmark Index – The Trust underperformed the benchmark index for the one-, three- and ten-year periods and outperformed the benchmark index for the five-year period.<br>Broadridge Category – The Trust outperformed the peer group median for the one-, three-, five- and ten-year periods. | &nbsp;&nbsp;The subadvisor fees for this Trust are equal to the peer group median.<br>Net management fees for this Trust are lower than the peer group median.<br>Net total expenses for this Trust are higher than the peer group median. | &nbsp;&nbsp;The Board took into account management's discussion of the Trust's performance relative to the benchmark index for the one-, three- and ten-year periods.<br>The Board noted the Trust's favorable performance relative to the benchmark index for the five-year period and to the peer group median for the one-, three-, five- and ten-year periods.<br>The Board took into account management's discussion of the Trust's expenses. The Board noted the Trust's net management fees are lower than the peer group median. |
| Select Bond Trust<br>(Manulife Investment Management (US) LLC) | &nbsp;&nbsp;Benchmark Index – The Trust outperformed the benchmark index for the one- and five-year periods and underperformed the benchmark index for the three- and ten-year periods.<br>Broadridge Category – The Trust outperformed the peer group median for the one-, five- and ten-year periods and underperformed the peer group median for the three-year period. | &nbsp;&nbsp;Subadvisor fee comparative data not provided due to limited size of Broadridge peer group for this purpose.<br>Net management fees for this Trust are higher than the peer group median.<br>Net total expenses for this Trust are higher than the peer group median. | &nbsp;&nbsp;The Board took into account management's discussion of the Trust's performance relative to the benchmark index for the three- and ten-year periods and to the peer group median for the three-year period.<br>The Board noted the Trust's favorable performance relative to the benchmark index for the one- and five-year periods and to the peer group median for the one-, five- and ten-year periods.<br>The Board took into account management's discussion of the Trust's expenses. |
| Short Term Government Income Trust<br>(Manulife Investment Management (US) LLC) | &nbsp;&nbsp;Benchmark Index – The Trust underperformed the benchmark index for the one-, three-, five- and ten-year periods.<br>Broadridge Category – The Trust outperformed the peer group median for the one-, three-, and five-year periods and underperformed the peer group median for the ten-year period. | &nbsp;&nbsp;Subadvisor fee comparative data not provided due to limited size of Broadridge peer group for this purpose.<br>Net management fees for this Trust are higher than the peer group median.<br>Net total expenses for this Trust are lower than the peer group median. | &nbsp;&nbsp;The Board took into account management's discussion of the factors that contributed to the Trust's performance relative to the benchmark index for the one-, three-, five- and ten-year periods and to the peer group median for the ten-year period, including the impact of past and current market conditions on the Trust's strategy and management's outlook for the Trust.<br>The Board noted the Trust's favorable performance relative to the peer group median for the one-, three- and five-year periods.<br>The Board took into account management's discussion of the Trust's expenses. The Board noted the Trust's net total expenses are lower than the peer group median. |

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[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Appendix A

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| | | | |
|:---|:---|:---|:---|
| **Portfolio (Subadvisor)** | &nbsp;&nbsp;&nbsp;**Performance as of 12/31/2024** | &nbsp;&nbsp;&nbsp;**Fees and Expenses** | &nbsp;&nbsp;&nbsp;**Comments** |
| Strategic Income Opportunities Trust<br>(Manulife Investment Management (US) LLC) | &nbsp;&nbsp;Benchmark Index – The Trust outperformed the benchmark index for the one-, three-, five- and ten-year periods.<br>Broadridge Category – The Trust underperformed the peer group median for the one-, three- and ten-year periods and outperformed the peer group median for the five- year period. | &nbsp;&nbsp;Subadvisor fee comparative data not provided due to limited size of Broadridge peer group for this purpose.<br>Net management fees for this Trust are higher than the peer group median.<br>Net total expenses for this Trust are lower than the peer group median. | &nbsp;&nbsp;The Board took into account management's discussion of the Trust's performance relative to the peer group median for the one-, three- and ten-year periods.<br>The Board noted the Trust's favorable performance relative to the benchmark index for the one-, three-, five- and ten-year periods and to the peer group median for the five-year period.<br>The Board took into account management's discussion of the Trust's expenses. The Board noted the Trust's net total expenses are lower than the peer group median. |
| Total Bond Market Trust<br>(Manulife Investment Management (US) LLC) | &nbsp;&nbsp;Benchmark Index – The Trust underperformed the benchmark index for the one-, three-, five- and ten-year periods.<br>Broadridge Category – The Trust underperformed the peer group median for the one-, three-, five- and ten-year periods. | &nbsp;&nbsp;Subadvisor fee comparative data not provided due to limited size of Broadridge peer group for this purpose.<br>Net management fees for this Trust are equal to the peer group median.<br>Net total expenses for this Trust are lower than the peer group median. | &nbsp;&nbsp;The Board took into account management's discussion of the factors that contributed to the Trust's performance relative to the benchmark index and to the peer group median for the one-, three-, five- and ten-year periods including the impact of past and current market conditions on the Trust's strategy and management's plans for the Trust.<br>The Board noted that the Trust outperformed its Morningstar Category for the year-to-date period ended May 31, 2025.<br>The Board also noted the Trust's low performance dispersion relative to its benchmark index. <br>The Board noted the Trust's net management fees are equal to the peer group median and the net total expenses are lower than the peer group median. |

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[**Table of Contents**](#JOB_JHVIT_4472a8a2-408f-460b-a324-06087b3a91bb_TOC)

## John Hancock Variable Insurance Trust

#### Appendix A

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| | | | |
|:---|:---|:---|:---|
| **Portfolio (Subadvisor)** | &nbsp;&nbsp;&nbsp;**Performance as of 12/31/2024** | &nbsp;&nbsp;&nbsp;**Fees and Expenses** | &nbsp;&nbsp;&nbsp;**Comments** |
| Ultra Short Term Bond Trust<br>(Manulife Investment Management (US) LLC) | &nbsp;&nbsp;Benchmark Index – The Trust underperformed the benchmark index for the one-, three-, five- and ten-year periods.<br>Broadridge Category – The Trust underperformed peer group median for the one-, three-, five- and ten-year periods. | &nbsp;&nbsp;Subadvisor fee comparative data not provided due to limited size of Broadridge peer group for this purpose.<br>Net management fees for this Trust are higher than the peer group median.<br>Net total expenses for this Trust are higher than the peer group median. | &nbsp;&nbsp;The Board took into account management's discussion of the factors that contributed to the Trust's performance relative to the benchmark index and to the peer group median for the one-, three-, five- and ten-year periods, including the impact of past and current market conditions on the Trust's strategy and management's plans for the Trust.<br>The Board noted that the Trust outperformed its Morningstar peer group for the year-to-date period ended May 31, 2025.<br>The Board took into account management's discussion of the Trust's expenses. |

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![](imga5f8f20e1.gif)

John Hancock Distributors, LLC, Member FINRA, SIPC200 Berkeley Street, Boston, MA 02116

John Hancock Variable Annuities: 800-344-1029

John Hancock Variable Life Insurance: 800-732-5543

johnhancock.com

JHTBSA 6/30

8/25

1115017:06/25

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![](img82bff7b01.gif)

![](img666a59af2.gif)

## JOHN HANCOCK

## Variable Insurance Trust

#### Managed Volatility Growth Portfolio

#### Managed Volatility Balanced Portfolio

#### Managed Volatility Moderate Portfolio

#### Managed Volatility Conservative Portfolio
Semiannual Financial Statements & Other N-CSR Items

June 30, 2025

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## John Hancock Variable Insurance Trust

#### Semiannual Financial Statements & Other N-CSR Items — Table of contents

------

---

| | |
|:---|:---|
| **[Portfolio of investments](#xx_fae0f347-ebf2-4117-8d9f-5463a84a2e76_1)[(See below for each portfolio's page #)](#xx_fae0f347-ebf2-4117-8d9f-5463a84a2e76_1)<br>**  | **3** |
| **[Statements of assets and liabilities](#xx_e8946804-db57-4995-87ca-557beacc2874_1)<br>**  | **7** |
| **[Statements of operations](#xx_44776b65-fb40-4f4a-90e1-38c26b63de6e_1)<br>**  | **8** |
| **[Statements of changes in net assets](#xx_9a45160c-7ce8-444e-bc6f-3fd7c19926ae_1)<br>**  | **9** |
| **[Financial highlights](#xx_bdcdd036-dd44-4d64-bc52-3c7aee4040f4_1)<br>**  | **10** |
| **[Notes to financial statements](#xx_03e88202-e051-4f30-9b3c-1a27656b1590_1)<br>**  | **12** |
| **[Evaluation of advisory and subadvisory agreements by the Board of Trustees](#xx_8ff9e680-71b0-470a-bafb-94861dcf0b2c_1)<br>**  | **23** |
| **[Appendix A](#xx_6d92830f-6c2e-4f6c-8b8b-5d20de761d9c_1)<br>**  | **27** |

---

---

| | | |
|:---|:---|:---|
| **Portfolio** | **Portfolio of investments** | **Portfolio of investments** |
| [Managed Volatility Growth Portfolio](#xx_fae0f347-ebf2-4117-8d9f-5463a84a2e76_1) | [Managed Volatility Growth Portfolio](#xx_fae0f347-ebf2-4117-8d9f-5463a84a2e76_1) | 3 |
| [Managed Volatility Balanced Portfolio](#xx_fae0f347-ebf2-4117-8d9f-5463a84a2e76_1) | [Managed Volatility Balanced Portfolio](#xx_fae0f347-ebf2-4117-8d9f-5463a84a2e76_1) | 3 |

---

---

| | | |
|:---|:---|:---|
| **Portfolio** | **Portfolio of investments** | **Portfolio of investments** |
| [Managed Volatility Moderate Portfolio](#xx_fae0f347-ebf2-4117-8d9f-5463a84a2e76_2) | [Managed Volatility Moderate Portfolio](#xx_fae0f347-ebf2-4117-8d9f-5463a84a2e76_2) | 4 |
| [Managed Volatility Conservative Portfolio](#xx_fae0f347-ebf2-4117-8d9f-5463a84a2e76_3) | [Managed Volatility Conservative Portfolio](#xx_fae0f347-ebf2-4117-8d9f-5463a84a2e76_3) | 5 |

---

------

[**Table of Contents**](#JOB_JHVIT_a66a0ebf-d853-447a-bd5b-e614338e8513_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Managed Volatility Growth Portfolio

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **AFFILIATED INVESTMENT COMPANIES (A) - 96.9%** | **AFFILIATED INVESTMENT COMPANIES (A) - 96.9%** |  |
| **Equity - 69.4%** | **Equity - 69.4%** |  |
| Blue Chip Growth, Series NAV, JHVIT (T. Rowe Price) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5747568 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209901196 |
| Disciplined Value, Class NAV, JHF III (Boston Partners) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12123677 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;291331962 |
| Emerging Markets Equity, Class NAV, JHIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21521774 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222750365 |
| Fundamental Large Cap Core, Class NAV, JHIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6007310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;439795197 |
| Mid Cap Growth, Series NAV, JHVIT (Wellington) (C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7139115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85169645 |
| Mid Value, Series NAV, JHVIT (T. Rowe Price) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10251152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107637095 |
| Multifactor Developed International ETF, JHETF (DFA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6062373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232007015 |
| Multifactor Emerging Markets ETF, JHETF (DFA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3496189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102053757 |
| Multifactor Mid Cap ETF, JHETF (DFA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1889229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115488569 |
| Multifactor Small Cap ETF, JHETF (DFA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2718448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106155394 |
| Small Cap Dynamic Growth, Class NAV, JHF II (Axiom) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6476495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106732640 |
| Strategic Equity Allocation, Series NAV, JHVIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81698166 | &nbsp;&nbsp;&nbsp;&nbsp;1589029338 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3608052173 |
| **Fixed income - 27.5%** | **Fixed income - 27.5%** |  |
| Bond, Class NAV, JHSB (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26868794 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;364878219 |
| Core Bond, Series NAV, JHVIT (Allspring Investments) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11126070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127170977 |

---

#### Managed Volatility Growth Portfolio (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **AFFILIATED INVESTMENT COMPANIES (A) (continued)** | **AFFILIATED INVESTMENT COMPANIES (A) (continued)** |  |
| **Fixed income (continued)** | **Fixed income (continued)** |  |
| Select Bond, Series NAV, JHVIT (MIM US) (B) | 78030556 | $&nbsp;&nbsp;936366675 |
|  |  | 1428415871 |
| TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $4,659,429,599) | TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $4,659,429,599) | $5036468044 |
| **SHORT-TERM INVESTMENTS - 1.5%** | **SHORT-TERM INVESTMENTS - 1.5%** |  |
| **Short-term funds - 1.5%** |  |  |
| John Hancock Collateral Trust, 4.2596% (D)(E) | &nbsp;&nbsp;7917905 | &nbsp;&nbsp;&nbsp;&nbsp;79198051 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $79,197,242) | TOTAL SHORT-TERM INVESTMENTS (Cost $79,197,242) | $&nbsp;&nbsp;&nbsp;&nbsp;79198051 |
| **Total Investments (Managed Volatility Growth Portfolio) (Cost $4,738,626,841) - 98.4%** |  | $**5115666095** |
| **Other assets and liabilities, net - 1.6%** |  | &nbsp;&nbsp;&nbsp;&nbsp;**84483335** |
| **TOTAL NET ASSETS - 100.0%** |  | $**5200149430** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| JHETF | John Hancock Exchange-Traded Fund Trust |
| JHF II | John Hancock Funds II |
| JHF III | John Hancock Funds III |
| JHIT | John Hancock Investment Trust |
| JHSB | John Hancock Sovereign Bond Fund |
| JHVIT | John Hancock Variable Insurance Trust |
| (A) | The underlying portfolios' subadvisor is shown parenthetically. |
| (B) | The subadvisor is an affiliate of the advisor. |
| (C) | Non-income producing. |
| (D) | The rate shown is the annualized seven-day yield as of 6-30-25. |
| (E) | Investment is an affiliate of the fund, the advisor and/or subadvisor. |

---

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| Euro Currency Futures | &nbsp;&nbsp;&nbsp;&nbsp;245 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;$35654804 | &nbsp;&nbsp;&nbsp;&nbsp;$36247750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$592946 |
| Euro STOXX 50 Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;584 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36740839 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36645668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(95171) |
| FTSE 100 Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12075499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11944255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(131244) |
| Japanese Yen Currency Futures | &nbsp;&nbsp;&nbsp;&nbsp;205 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17950319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17923406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(26913) |
| MSCI Emerging Markets Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;743 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44913587 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45824525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;910938 |
| Nikkei 225 Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17852044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18745391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;893347 |
| Pound Sterling Currency Futures | &nbsp;&nbsp;&nbsp;&nbsp;139 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11797460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11923594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126134 |
| Russell 2000 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;147 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15613151 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16108995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495844 |
| S&P 500 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;722 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;218308886 | &nbsp;&nbsp;&nbsp;&nbsp;225760375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7451489 |
| S&P Mid 400 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;114 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34654518 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35630700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;976182 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$11193552** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

See Notes to financial statements regarding investment transactions and other derivatives information.

#### Managed Volatility Balanced Portfolio

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **AFFILIATED INVESTMENT COMPANIES (A) - 98.0%** | **AFFILIATED INVESTMENT COMPANIES (A) - 98.0%** |  |
| **Equity - 50.0%** | **Equity - 50.0%** |  |
| Blue Chip Growth, Series NAV, JHVIT (T. Rowe Price) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3589346 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131082932 |
| Disciplined Value, Class NAV, JHF III (Boston Partners) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7613228 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182945874 |
| Emerging Markets Equity, Class NAV, JHIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10394465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107582710 |

---

#### Managed Volatility Balanced Portfolio (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **AFFILIATED INVESTMENT COMPANIES (A) (continued)** | **AFFILIATED INVESTMENT COMPANIES (A) (continued)** |  |
| **Equity (continued)** | **Equity (continued)** |  |
| Fundamental Large Cap Core, Class NAV, JHIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3731817 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;273206301 |
| Mid Cap Growth, Series NAV, JHVIT (Wellington) (C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3022915 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36063380 |
| Mid Value, Series NAV, JHVIT (T. Rowe Price) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4789502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50289774 |
| Multifactor Developed International ETF, JHETF (DFA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2202551 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84291627 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>3</sub>

------

[**Table of Contents**](#JOB_JHVIT_a66a0ebf-d853-447a-bd5b-e614338e8513_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Managed Volatility Balanced Portfolio (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **AFFILIATED INVESTMENT COMPANIES (A) (continued)** | **AFFILIATED INVESTMENT COMPANIES (A) (continued)** |  |
| **Equity (continued)** | **Equity (continued)** |  |
| Multifactor Emerging Markets ETF, JHETF (DFA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1688606 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49290409 |
| Multifactor Mid Cap ETF, JHETF (DFA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1039862 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63566764 |
| Multifactor Small Cap ETF, JHETF (DFA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1435719 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56064827 |
| Small Cap Dynamic Growth, Class NAV, JHF II (Axiom) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3420729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56373615 |
| Strategic Equity Allocation, Series NAV, JHVIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44317888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;861982913 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1952741126 |
| **Fixed income - 48.0%** | **Fixed income - 48.0%** |  |
| Bond, Class NAV, JHSB (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35374977 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480392189 |
| Core Bond, Series NAV, JHVIT (Allspring Investments) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14617479 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167077788 |
| Select Bond, Series NAV, JHVIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;102169648 | &nbsp;&nbsp;&nbsp;&nbsp;1226035778 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1873505755 |
| TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $3,742,188,554) | TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $3,742,188,554) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3826246881 |
| **SHORT-TERM INVESTMENTS - 1.1%** | **SHORT-TERM INVESTMENTS - 1.1%** |  |
| **Short-term funds - 1.1%** |  |  |
| John Hancock Collateral Trust, 4.2596% (D)(E) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4281373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42824008 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $42,823,739) | TOTAL SHORT-TERM INVESTMENTS (Cost $42,823,739) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42824008 |
| **Total Investments (Managed Volatility Balanced Portfolio) (Cost $3,785,012,293) - 99.1%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;**3869070889** |
| **Other assets and liabilities, net - 0.9%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**34205319** |
| **TOTAL NET ASSETS - 100.0%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3903276208** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| JHETF | John Hancock Exchange-Traded Fund Trust |
| JHF II | John Hancock Funds II |
| JHF III | John Hancock Funds III |
| JHIT | John Hancock Investment Trust |
| JHSB | John Hancock Sovereign Bond Fund |
| JHVIT | John Hancock Variable Insurance Trust |
| (A) | The underlying portfolios' subadvisor is shown parenthetically. |
| (B) | The subadvisor is an affiliate of the advisor. |
| (C) | Non-income producing. |
| (D) | The rate shown is the annualized seven-day yield as of 6-30-25. |
| (E) | Investment is an affiliate of the fund, the advisor and/or subadvisor. |

---

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| Euro Currency Futures | &nbsp;&nbsp;&nbsp;&nbsp;114 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;$16555283 | &nbsp;&nbsp;&nbsp;&nbsp;$16866300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$311017 |
| Euro STOXX 50 Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;272 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17115891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17067845 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(48046) |
| FTSE 100 Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5490351 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5429207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(61144) |
| Japanese Yen Currency Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7194773 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7169363 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25410) |
| MSCI Emerging Markets Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;337 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20390412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20784475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;394063 |
| Nikkei 225 Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6870762 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7274331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;403569 |
| Pound Sterling Currency Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5425049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5490000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64951 |
| Russell 2000 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7743685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7999705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;256020 |
| S&P 500 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;388 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;117067307 | &nbsp;&nbsp;&nbsp;&nbsp;121322680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4255373 |
| S&P Mid 400 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17301510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17815350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;513840 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$6064233** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

See Notes to financial statements regarding investment transactions and other derivatives information.

#### Managed Volatility Moderate Portfolio

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **AFFILIATED INVESTMENT COMPANIES (A) - 98.6%** | **AFFILIATED INVESTMENT COMPANIES (A) - 98.6%** |  |
| **Equity - 40.0%** | **Equity - 40.0%** |  |
| Blue Chip Growth, Series NAV, JHVIT (T. Rowe Price) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;801748 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29279826 |
| Disciplined Value, Class NAV, JHF III (Boston Partners) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1805393 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43383592 |

---

#### Managed Volatility Moderate Portfolio (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **AFFILIATED INVESTMENT COMPANIES (A) (continued)** | **AFFILIATED INVESTMENT COMPANIES (A) (continued)** |  |
| **Equity (continued)** | **Equity (continued)** |  |
| Emerging Markets Equity, Class NAV, JHIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1940588 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20085082 |
| Fundamental Large Cap Core, Class NAV, JHIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;847501 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62045520 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>4</sub>

------

[**Table of Contents**](#JOB_JHVIT_a66a0ebf-d853-447a-bd5b-e614338e8513_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Managed Volatility Moderate Portfolio (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **AFFILIATED INVESTMENT COMPANIES (A) (continued)** | **AFFILIATED INVESTMENT COMPANIES (A) (continued)** |  |
| **Equity (continued)** | **Equity (continued)** |  |
| Mid Cap Growth, Series NAV, JHVIT (Wellington) (C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;770963 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9197587 |
| Mid Value, Series NAV, JHVIT (T. Rowe Price) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1123853 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11800460 |
| Multifactor Developed International ETF, JHETF (DFA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;238234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9117215 |
| Multifactor Emerging Markets ETF, JHETF (DFA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9202877 |
| Multifactor Mid Cap ETF, JHETF (DFA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7504747 |
| Multifactor Small Cap ETF, JHETF (DFA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;244624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9552567 |
| Small Cap Dynamic Growth, Class NAV, JHF II (Axiom) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;581239 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9578822 |
| Strategic Equity Allocation, Series NAV, JHVIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9362110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182093038 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;402841333 |
| **Fixed income - 58.6%** | **Fixed income - 58.6%** |  |
| Bond, Class NAV, JHSB (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11143299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151325997 |
| Core Bond, Series NAV, JHVIT (Allspring Investments) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52578173 |
| Select Bond, Series NAV, JHVIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32213115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;386557378 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;590461548 |
| TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $1,003,632,940) | TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $1,003,632,940) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;993302881 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **SHORT-TERM INVESTMENTS - 0.9%** | **SHORT-TERM INVESTMENTS - 0.9%** |  |
| **Short-term funds - 0.9%** |  |  |
| John Hancock Collateral Trust, 4.2596% (D)(E) | 917442 | $&nbsp;&nbsp;&nbsp;&nbsp;9176619 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $9,176,601) | TOTAL SHORT-TERM INVESTMENTS (Cost $9,176,601) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9176619 |
| **Total Investments (Managed Volatility Moderate Portfolio) (Cost $1,012,809,541) - 99.5%** |  | $**1002479500** |
| **Other assets and liabilities, net - 0.5%** |  | &nbsp;&nbsp;&nbsp;&nbsp;**5534676** |
| **TOTAL NET ASSETS - 100.0%** |  | $**1008014176** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| JHETF | John Hancock Exchange-Traded Fund Trust |
| JHF II | John Hancock Funds II |
| JHF III | John Hancock Funds III |
| JHIT | John Hancock Investment Trust |
| JHSB | John Hancock Sovereign Bond Fund |
| JHVIT | John Hancock Variable Insurance Trust |
| (A) | The underlying portfolios' subadvisor is shown parenthetically. |
| (B) | The subadvisor is an affiliate of the advisor. |
| (C) | Non-income producing. |
| (D) | The rate shown is the annualized seven-day yield as of 6-30-25. |
| (E) | Investment is an affiliate of the fund, the advisor and/or subadvisor. |

---

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| Euro Currency Futures | &nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;$2906450 | &nbsp;&nbsp;&nbsp;&nbsp;$2959000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$52550 |
| Euro STOXX 50 Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;49 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3091811 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3074722 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17089) |
| FTSE 100 Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;977374 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;965192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12182) |
| Japanese Yen Currency Futures | &nbsp;&nbsp;&nbsp;&nbsp;16 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1403978 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1398900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5078) |
| MSCI Emerging Markets Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3639516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3700500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60984 |
| Nikkei 225 Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1327502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1398910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71408 |
| Pound Sterling Currency Futures | &nbsp;&nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;933806 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;943594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9788 |
| Russell 2000 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;14 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1482987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1534190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51203 |
| S&P 500 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;81 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;24432317 | &nbsp;&nbsp;&nbsp;&nbsp;25327688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;895371 |
| S&P Mid 400 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3031172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3125500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94328 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$1201283** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

See Notes to financial statements regarding investment transactions and other derivatives information.

#### Managed Volatility Conservative Portfolio

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **AFFILIATED INVESTMENT COMPANIES (A) - 98.9%** | **AFFILIATED INVESTMENT COMPANIES (A) - 98.9%** |  |
| **Equity - 20.0%** | **Equity - 20.0%** |  |
| Blue Chip Growth, Series NAV, JHVIT (T. Rowe Price) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210575 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7690194 |
| Disciplined Value, Class NAV, JHF III (Boston Partners) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;518061 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12448999 |
| Emerging Markets Equity, Class NAV, JHIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;418231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4328690 |
| Fundamental Large Cap Core, Class NAV, JHIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14553386 |
| Multifactor Emerging Markets ETF, JHETF (DFA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67941 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1983198 |
| Multifactor Mid Cap ETF, JHETF (DFA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6801263 |

---

#### Managed Volatility Conservative Portfolio (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **AFFILIATED INVESTMENT COMPANIES (A) (continued)** | **AFFILIATED INVESTMENT COMPANIES (A) (continued)** |  |
| **Equity (continued)** | **Equity (continued)** |  |
| Multifactor Small Cap ETF, JHETF (DFA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68433 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2672309 |
| Small Cap Dynamic Growth, Class NAV, JHF II (Axiom) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2677989 |
| Strategic Equity Allocation, Series NAV, JHVIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2282611 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44396790 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97552818 |
| **Fixed income - 78.9%** | **Fixed income - 78.9%** |  |
| Bond, Class NAV, JHSB (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7262534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98625217 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>5</sub>

------

[**Table of Contents**](#JOB_JHVIT_a66a0ebf-d853-447a-bd5b-e614338e8513_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — June 30, 2025 (unaudited) (showing percentage of total net assets)

------

#### Managed Volatility Conservative Portfolio (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **AFFILIATED INVESTMENT COMPANIES (A) (continued)** | **AFFILIATED INVESTMENT COMPANIES (A) (continued)** |  |
| **Fixed income (continued)** | **Fixed income (continued)** |  |
| Core Bond, Series NAV, JHVIT (Allspring Investments) | &nbsp;&nbsp;2990055 | $&nbsp;&nbsp;34176327 |
| Select Bond, Series NAV, JHVIT (MIM US) (B) | 20946168 | 251354016 |
|  |  | 384155560 |
| TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $511,406,603) | TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $511,406,603) | $481708378 |
| **SHORT-TERM INVESTMENTS - 0.8%** | **SHORT-TERM INVESTMENTS - 0.8%** |  |
| **Short-term funds - 0.8%** |  |  |
| John Hancock Collateral Trust, 4.2596% (C)(D) | &nbsp;&nbsp;&nbsp;&nbsp;400630 | &nbsp;&nbsp;&nbsp;4007261 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $4,007,306) | TOTAL SHORT-TERM INVESTMENTS (Cost $4,007,306) | $&nbsp;&nbsp;&nbsp;&nbsp;4007261 |
| **Total Investments (Managed Volatility Conservative Portfolio) (Cost $515,413,909) - 99.7%** |  | $**485715639** |
| **Other assets and liabilities, net - 0.3%** |  | &nbsp;&nbsp;&nbsp;**1606256** |
| **TOTAL NET ASSETS - 100.0%** |  | $**487321895** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| JHETF | John Hancock Exchange-Traded Fund Trust |
| JHF II | John Hancock Funds II |
| JHF III | John Hancock Funds III |
| JHIT | John Hancock Investment Trust |
| JHSB | John Hancock Sovereign Bond Fund |
| JHVIT | John Hancock Variable Insurance Trust |
| (A) | The underlying portfolios' subadvisor is shown parenthetically. |
| (B) | The subadvisor is an affiliate of the advisor. |
| (C) | The rate shown is the annualized seven-day yield as of 6-30-25. |
| (D) | Investment is an affiliate of the fund, the advisor and/or subadvisor. |

---

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| Euro Currency Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$574629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$591800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$17171 |
| Euro STOXX 50 Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;567884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;564745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3139) |
| FTSE 100 Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120649 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1523) |
| Japanese Yen Currency Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198 |
| MSCI Emerging Markets Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;667245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;678425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11180 |
| Nikkei 225 Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265621 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;279782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14161 |
| Pound Sterling Currency Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169281 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2282 |
| Russell 2000 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;317783 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;328755 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10972 |
| S&P 500 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;18 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;5429403 | &nbsp;&nbsp;&nbsp;&nbsp;5628375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198972 |
| S&P Mid 400 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;606234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18866 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$269140** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

See Notes to financial statements regarding investment transactions and other derivatives information.

#### Investment companies

---

| | |
|:---|:---|
| **Subadvisors of Affiliated Underlying Funds** | **Subadvisors of Affiliated Underlying Funds** |
| Allspring Global Investments, LLC | (Allspring Investments) |
| Axiom Investors LLC | (Axiom) |
| Boston Partners Global Investors, Inc. | (Boston Partners) |
| Dimensional Fund Advisors, LP | (DFA) |
| Manulife Investment Management (US) LLC | (MIM US) |
| T. Rowe Price Associates, Inc. | (T. Rowe Price) |
| Wellington Management Company LLP | (Wellington) |

---

**The accompanying notes are an integral part of the financial statements.** <sub>6</sub>

------

[**Table of Contents**](#JOB_JHVIT_a66a0ebf-d853-447a-bd5b-e614338e8513_TOC)

## John Hancock Variable Insurance Trust

#### Statements of assets and liabilities — June 30, 2025 (unaudited)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Assets** | &nbsp;&nbsp;&nbsp;&nbsp;**Managed Volatility Growth Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;**Managed Volatility Balanced Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;**Managed Volatility Moderate Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;**Managed Volatility Conservative Portfolio** |
| Affiliated investments, at value | &nbsp;&nbsp;&nbsp;&nbsp;$5115666095 | &nbsp;&nbsp;&nbsp;&nbsp;$3869070889 | &nbsp;&nbsp;&nbsp;&nbsp;$1002479500 | &nbsp;&nbsp;&nbsp;&nbsp;$485715639 |
| Receivable for futures variation margin | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33848045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6636822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;537521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204113 |
| Foreign currency, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18104928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8561642 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1459666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209177 |
| Collateral held at broker for futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32606000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19137000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3605000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1246000 |
| Dividends and interest receivable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1506460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1834472 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;363647 |
| Receivable for fund shares sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34813 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;268 |
| Receivable for investments sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4148254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;755615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;381666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251538 |
| Other assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23512 |
| **Total assets** | &nbsp;&nbsp;&nbsp;&nbsp;**5206243495** | &nbsp;&nbsp;&nbsp;&nbsp;**3906195632** | &nbsp;&nbsp;&nbsp;&nbsp;**1009105860** | &nbsp;&nbsp;&nbsp;&nbsp;**488013894** |
| **Liabilities** |  |  |  |  |
| Due to custodian | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11320 |
| Payable for investments purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1353653 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1792227 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565907 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370513 |
| Payable for fund shares repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4285691 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;780762 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;408728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;248060 |
| Payable to affiliates |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206699 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19676 |
| &nbsp;&nbsp;&nbsp;Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3074 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;516 |
| Other liabilities and accrued expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125779 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106447 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41914 |
| **Total liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6094065** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2919424** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1091684** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**691999** |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$5200149430** | &nbsp;&nbsp;&nbsp;&nbsp;**$3903276208** | &nbsp;&nbsp;&nbsp;&nbsp;**$1008014176** | &nbsp;&nbsp;&nbsp;&nbsp;**$487321895** |
| **Net assets consist of** |  |  |  |  |
| Paid-in capital | &nbsp;&nbsp;&nbsp;&nbsp;$4810044477 | &nbsp;&nbsp;&nbsp;&nbsp;$3855442163 | &nbsp;&nbsp;&nbsp;&nbsp;$1045886786 | &nbsp;&nbsp;&nbsp;&nbsp;$570275180 |
| Total distributable earnings (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390104953 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47834045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(37872610) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(82953285) |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$5200149430** | &nbsp;&nbsp;&nbsp;&nbsp;**$3903276208** | &nbsp;&nbsp;&nbsp;&nbsp;**$1008014176** | &nbsp;&nbsp;&nbsp;&nbsp;**$487321895** |
| Affiliated investments, at cost | &nbsp;&nbsp;&nbsp;&nbsp;$4738626841 | &nbsp;&nbsp;&nbsp;&nbsp;$3785012293 | &nbsp;&nbsp;&nbsp;&nbsp;$1012809541 | &nbsp;&nbsp;&nbsp;&nbsp;$515413909 |
| Foreign currency, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$17701097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8412118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1431975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$203400 |
| **Net asset value per share** |  |  |  |  |
| The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. | The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. |  |  |  |
| **Series I** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$410206133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$326883150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$121553143 | &nbsp;&nbsp;&nbsp;&nbsp;$73905582 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34905199 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29929259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11648648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7346129 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10.92 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10.43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10.06 |
| **Series II** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$3761251108 | &nbsp;&nbsp;&nbsp;&nbsp;$2502229610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$768152641 | &nbsp;&nbsp;&nbsp;&nbsp;$363134909 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;322150793 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231598097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74451902 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36490247 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.68 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10.80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10.32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9.95 |
| **Series NAV** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$1028692189 | &nbsp;&nbsp;&nbsp;&nbsp;$1074163448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$118308392 | &nbsp;&nbsp;&nbsp;&nbsp;$50281404 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87302162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97930516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11316098 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4980514 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.78 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10.97 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10.45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10.10 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>7</sub>

------

[**Table of Contents**](#JOB_JHVIT_a66a0ebf-d853-447a-bd5b-e614338e8513_TOC)

## John Hancock Variable Insurance Trust

#### Statements of operations — For the six months ended June 30, 2025 (unaudited)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment income** | &nbsp;&nbsp;&nbsp;**Managed Volatility Growth Portfolio** | &nbsp;&nbsp;&nbsp;**Managed Volatility Balanced Portfolio** | &nbsp;&nbsp;&nbsp;**Managed Volatility Moderate Portfolio** | &nbsp;&nbsp;&nbsp;**Managed Volatility Conservative Portfolio** |
| Dividends from affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;$15826011 | &nbsp;&nbsp;&nbsp;&nbsp;$14485637 | &nbsp;&nbsp;&nbsp;&nbsp;$4013365 | &nbsp;&nbsp;&nbsp;&nbsp;$2407049 |
| Interest | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1128626 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;464489 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25469 |
| **Total investment income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**16954637** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14950126** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4110422** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2432518** |
| **Expenses** |  |  |  |  |
| Investment management fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5006415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3491472 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;408721 |
| Distribution and service fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4830478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3234038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;998669 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476409 |
| Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;454172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;342001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88833 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43041 |
| Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74471 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55246 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14183 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6734 |
| Custodian fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17407 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17411 |
| Printing and postage | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99347 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26444 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15383 |
| Professional fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23615 |
| Other | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60518 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12858 |
| **Total expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10653262** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7347376** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2045562** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1004172** |
| Less expense reductions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2504799) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1733856) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(417593) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(192181) |
| **Net expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8148463** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5613520** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1627969** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**811991** |
| **Net investment income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8806174** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9336606** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2482453** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1620527** |
| **Realized and unrealized gain (loss)** |  |  |  |  |
| **Net realized gain (loss) on** |  |  |  |  |
| Unaffiliated investments and foreign currency transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43391089 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27633373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6897469 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1414374 |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6968868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7060252) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2946270) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4649780) |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;(216319304) | &nbsp;&nbsp;&nbsp;&nbsp;(121341236) | &nbsp;&nbsp;&nbsp;&nbsp;(24573228) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3558607) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**(165959347)** | &nbsp;&nbsp;&nbsp;&nbsp;**(100768115)** | &nbsp;&nbsp;&nbsp;&nbsp;**(20622029)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(6794013)** |
| **Change in net unrealized appreciation (depreciation) of** |  |  |  |  |
| Unaffiliated investments and translation of assets and liabilities in foreign currencies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(36280729) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25151465) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6315537) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1274412) |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;297058618 | &nbsp;&nbsp;&nbsp;&nbsp;208890919 | &nbsp;&nbsp;&nbsp;&nbsp;51182834 | &nbsp;&nbsp;&nbsp;&nbsp;24871597 |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20604847 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13645381 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2604990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;589173 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**281382736** | &nbsp;&nbsp;&nbsp;&nbsp;**197384835** | &nbsp;&nbsp;&nbsp;&nbsp;**47472287** | &nbsp;&nbsp;&nbsp;&nbsp;**24186358** |
| **Net realized and unrealized gain (loss)** | &nbsp;&nbsp;&nbsp;&nbsp;**115423389** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**96616720** | &nbsp;&nbsp;&nbsp;&nbsp;**26850258** | &nbsp;&nbsp;&nbsp;&nbsp;**17392345** |
| **Increase in net assets from operations** | &nbsp;&nbsp;&nbsp;**$124229563** | &nbsp;&nbsp;&nbsp;**$105953326** | &nbsp;&nbsp;&nbsp;**$29332711** | &nbsp;&nbsp;&nbsp;**$19012872** |

---

**The accompanying notes are an integral part of the financial statements.** <sub>8</sub>

------

[**Table of Contents**](#JOB_JHVIT_a66a0ebf-d853-447a-bd5b-e614338e8513_TOC)

## John Hancock Variable Insurance Trust

#### Statements of changes in net assets

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Managed Volatility<br> Growth Portfolio** | &nbsp;&nbsp;&nbsp;**Managed Volatility<br> Growth Portfolio** | &nbsp;&nbsp;&nbsp;**Managed Volatility Balanced Portfolio** | &nbsp;&nbsp;&nbsp;**Managed Volatility Balanced Portfolio** | &nbsp;&nbsp;&nbsp;**Managed Volatility Moderate Portfolio** | &nbsp;&nbsp;&nbsp;**Managed Volatility Moderate Portfolio** |
|  | &nbsp;&nbsp;&nbsp;**Six months ended <br> 6-30-25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** | &nbsp;&nbsp;&nbsp;**Six months ended <br> 6-30-25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** | &nbsp;&nbsp;&nbsp;**Six months ended <br> 6-30-25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** |
| **Increase (decrease) in net assets** |  |  |  |  |  |  |
| **From operations** |  |  |  |  |  |  |
| Net investment income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8806174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$97574478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9336606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$95162784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2482453 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$27128380 |
| Net realized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(165959347) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;322070500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(100768115) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164871252 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20622029) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32317494 |
| Change in net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;281382736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206693274 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197384835 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112958103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47472287 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26075334 |
| **Increase in net assets resulting from operations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**124229563** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**626338252** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**105953326** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**372992139** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**29332711** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**85521208** |
| **Distributions to shareholders** |  |  |  |  |  |  |
| From earnings |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11417276) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10001141) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3484287) |
| &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(98406661) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(73477667) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21185092) |
| &nbsp;&nbsp;&nbsp;Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27341522) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(31833721) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3264540) |
| **Total distributions** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(137165459)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(115312529)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(27933919)** |
| **From portfolio share transactions** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Portfolio share transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(361528306) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(642284981) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(278445596) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(447951335) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(77665014) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(159618109) |
| **Total decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(237298743)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(153112188)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(172492270)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(190271725)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(48332303)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(102030820)** |
| **Net assets** |  |  |  |  |  |  |
| Beginning of period | &nbsp;&nbsp;&nbsp;&nbsp;5437448173 | &nbsp;&nbsp;&nbsp;&nbsp;5590560361 | &nbsp;&nbsp;&nbsp;&nbsp;4075768478 | &nbsp;&nbsp;&nbsp;&nbsp;4266040203 | &nbsp;&nbsp;&nbsp;&nbsp;1056346479 | &nbsp;&nbsp;&nbsp;&nbsp;1158377299 |
| **End of period** | &nbsp;&nbsp;&nbsp;**$5200149430** | &nbsp;&nbsp;&nbsp;**$5437448173** | &nbsp;&nbsp;&nbsp;**$3903276208** | &nbsp;&nbsp;&nbsp;**$4075768478** | &nbsp;&nbsp;&nbsp;**$1008014176** | &nbsp;&nbsp;&nbsp;**$1056346479** |

---

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Managed Volatility Conservative Portfolio** | &nbsp;&nbsp;&nbsp;**Managed Volatility Conservative Portfolio** |
|  | &nbsp;&nbsp;&nbsp;**Six months ended <br> 6-30-25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** |
| **Increase (decrease) in net assets** |  |  |
| **From operations** |  |  |
| Net investment income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1620527 | &nbsp;&nbsp;&nbsp;&nbsp;$15973220 |
| Net realized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6794013) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7004658) |
| Change in net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24186358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9258744 |
| **Increase in net assets resulting from operations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**19012872** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**18227306** |
| **Distributions to shareholders** |  |  |
| From earnings |  |  |
| &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2557223) |
| &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12041169) |
| &nbsp;&nbsp;&nbsp;Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1638424) |
| **Total distributions** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(16236816)** |
| **From portfolio share transactions** |  |  |
| &nbsp;&nbsp;&nbsp;Portfolio share transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(41735831) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(88208612) |
| **Total decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(22722959)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(86218122)** |
| **Net assets** |  |  |
| Beginning of period | &nbsp;&nbsp;&nbsp;&nbsp;510044854 | &nbsp;&nbsp;&nbsp;&nbsp;596262976 |
| **End of period** | &nbsp;&nbsp;&nbsp;**$487321895** | &nbsp;&nbsp;&nbsp;**$510044854** |

---

**The accompanying notes are an integral part of the financial statements.** <sub>9</sub>

------

[**Table of Contents**](#JOB_JHVIT_a66a0ebf-d853-447a-bd5b-e614338e8513_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

------

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** |  | **Ratios and supplemental data** | **Ratios and supplemental data** | **Ratios and supplemental data** |
|  |  | **Income (loss) from investment operations** | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period ($) | Net<br> investment<br> income<br> (loss) ($)<sup>1, 2</sup> | Net realized and<br> unrealized<br> gain (loss)<br> on investments ($) | Total from<br> investment<br> operations ($) | From net<br> investment<br> income ($) | From net<br> realized<br> gain ($) | Total<br> distributions ($) | Net asset<br> value,<br> end of<br> period ($) | Total<br> return<br> (%)<sup>3</sup> | Expenses<br> before<br> reductions<br> (%)<sup>4</sup> | Expenses<br> including<br> reductions<br> (%)<sup>4</sup> | Net<br> investment<br> income<br> (loss) (%)<sup>2</sup> | Net<br> assets,<br> end of<br> period<br> (in millions) | Portfolio<br> turnover<br> (%) |
| **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 06-30-2025<sup>5</sup> | 11.46 | 0.03 | &nbsp;&nbsp;0.26 | &nbsp;&nbsp;0.29 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 11.75 | &nbsp;&nbsp;&nbsp;2.53<sup>6</sup> | 0.27<sup>7</sup> | 0.18<sup>7</sup> | 0.48 | &nbsp;&nbsp;&nbsp;410 | 11 |
| 12-31-2024 | 10.51 | 0.21 | &nbsp;&nbsp;1.05 | &nbsp;&nbsp;1.26 | (0.23) | (0.08) | (0.31) | 11.46 | &nbsp;&nbsp;11.95 | 0.26 | 0.17 | 1.86 | &nbsp;&nbsp;&nbsp;432 | &nbsp;&nbsp;7 |
| 12-31-2023 | 10.79 | 0.21 | &nbsp;&nbsp;1.09 | &nbsp;&nbsp;1.30 | (0.20) | (1.38) | (1.58) | 10.51 | &nbsp;&nbsp;13.69 | 0.27 | 0.18 | 1.89 | &nbsp;&nbsp;&nbsp;451 | &nbsp;&nbsp;8 |
| 12-31-2022 | 13.28 | 0.19 | (2.17) | (1.98) | (0.20) | (0.31) | (0.51) | 10.79 | (14.86) | 0.27 | 0.18 | 1.64 | &nbsp;&nbsp;&nbsp;450 | 14 |
| 12-31-2021 | 12.03 | 0.21 | &nbsp;&nbsp;1.33 | &nbsp;&nbsp;1.54 | (0.21) | (0.08) | (0.29) | 13.28 | &nbsp;&nbsp;12.82 | 0.25 | 0.16 | 1.64 | &nbsp;&nbsp;&nbsp;589 | 12<sup>8</sup> |
| 12-31-2020 | 13.28 | 0.21 | (0.46) | (0.25) | (0.24) | (0.76) | (1.00) | 12.03 | &nbsp;&nbsp;(1.42) | 0.28 | 0.15 | 1.75 | &nbsp;&nbsp;&nbsp;545 | 13 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 06-30-2025<sup>5</sup> | 11.40 | 0.02 | &nbsp;&nbsp;0.26 | &nbsp;&nbsp;0.28 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 11.68 | &nbsp;&nbsp;&nbsp;2.46<sup>6</sup> | 0.47<sup>7</sup> | 0.38<sup>7</sup> | 0.27 | 3761 | 11 |
| 12-31-2024 | 10.46 | 0.19 | &nbsp;&nbsp;1.03 | &nbsp;&nbsp;1.22 | (0.20) | (0.08) | (0.28) | 11.40 | &nbsp;&nbsp;11.69 | 0.46 | 0.37 | 1.67 | 3981 | &nbsp;&nbsp;7 |
| 12-31-2023 | 10.74 | 0.18 | &nbsp;&nbsp;1.10 | &nbsp;&nbsp;1.28 | (0.18) | (1.38) | (1.56) | 10.46 | &nbsp;&nbsp;13.54 | 0.47 | 0.38 | 1.68 | 4188 | &nbsp;&nbsp;8 |
| 12-31-2022 | 13.22 | 0.17 | (2.16) | (1.99) | (0.18) | (0.31) | (0.49) | 10.74 | (15.03) | 0.47 | 0.38 | 1.43 | 4246 | 14 |
| 12-31-2021 | 11.98 | 0.18 | &nbsp;&nbsp;1.33 | &nbsp;&nbsp;1.51 | (0.19) | (0.08) | (0.27) | 13.22 | &nbsp;&nbsp;12.58 | 0.45 | 0.36 | 1.37 | 5630 | 12<sup>8</sup> |
| 12-31-2020 | 13.23 | 0.18 | (0.46) | (0.28) | (0.21) | (0.76) | (0.97) | 11.98 | &nbsp;&nbsp;(1.60) | 0.48 | 0.35 | 1.53 | 5886 | 13 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 06-30-2025<sup>5</sup> | 11.49 | 0.03 | &nbsp;&nbsp;0.26 | &nbsp;&nbsp;0.29 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 11.78 | &nbsp;&nbsp;&nbsp;2.52<sup>6</sup> | 0.22<sup>7</sup> | 0.13<sup>7</sup> | 0.53 | 1029 | 11 |
| 12-31-2024 | 10.54 | 0.22 | &nbsp;&nbsp;1.04 | &nbsp;&nbsp;1.26 | (0.23) | (0.08) | (0.31) | 11.49 | &nbsp;&nbsp;11.97 | 0.21 | 0.12 | 1.98 | 1025 | &nbsp;&nbsp;7 |
| 12-31-2023 | 10.81 | 0.22 | &nbsp;&nbsp;1.09 | &nbsp;&nbsp;1.31 | (0.20) | (1.38) | (1.58) | 10.54 | &nbsp;&nbsp;13.81 | 0.22 | 0.13 | 1.97 | &nbsp;&nbsp;&nbsp;951 | &nbsp;&nbsp;8 |
| 12-31-2022 | 13.30 | 0.20 | (2.17) | (1.97) | (0.21) | (0.31) | (0.52) | 10.81 | (14.79) | 0.22 | 0.13 | 1.72 | &nbsp;&nbsp;&nbsp;891 | 14 |
| 12-31-2021 | 12.05 | 0.23 | &nbsp;&nbsp;1.32 | &nbsp;&nbsp;1.55 | (0.22) | (0.08) | (0.30) | 13.30 | &nbsp;&nbsp;12.85 | 0.20 | 0.11 | 1.80 | 1075 | 12<sup>8</sup> |
| 12-31-2020 | 13.30 | 0.22 | (0.47) | (0.25) | (0.24) | (0.76) | (1.00) | 12.05 | &nbsp;&nbsp;(1.37) | 0.23 | 0.10 | 1.85 | &nbsp;&nbsp;&nbsp;769 | 13 |
| **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized. 8. Excludes merger activity.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized. 8. Excludes merger activity.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized. 8. Excludes merger activity.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized. 8. Excludes merger activity.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized. 8. Excludes merger activity.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized. 8. Excludes merger activity.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized. 8. Excludes merger activity.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized. 8. Excludes merger activity.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized. 8. Excludes merger activity.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized. 8. Excludes merger activity.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized. 8. Excludes merger activity.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized. 8. Excludes merger activity.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized. 8. Excludes merger activity.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized. 8. Excludes merger activity.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized. 8. Excludes merger activity.** |
| **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 06-30-2025<sup>5</sup> | 10.62 | 0.03 | &nbsp;&nbsp;0.27 | &nbsp;&nbsp;0.30 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 10.92 | &nbsp;&nbsp;&nbsp;2.82<sup>6</sup> | 0.26<sup>7</sup> | 0.17<sup>7</sup> | 0.59 | &nbsp;&nbsp;&nbsp;327 | &nbsp;&nbsp;9 |
| 12-31-2024 | 10.00 | 0.25 | &nbsp;&nbsp;0.69 | &nbsp;&nbsp;0.94 | (0.27) | (0.05) | (0.32) | 10.62 | &nbsp;&nbsp;&nbsp;9.36 | 0.25 | 0.17 | 2.36 | &nbsp;&nbsp;&nbsp;342 | &nbsp;&nbsp;6 |
| 12-31-2023 | &nbsp;&nbsp;9.99 | 0.23 | &nbsp;&nbsp;0.87 | &nbsp;&nbsp;1.10 | (0.23) | (0.86) | (1.09) | 10.00 | &nbsp;&nbsp;11.99 | 0.26 | 0.18 | 2.28 | &nbsp;&nbsp;&nbsp;359 | &nbsp;&nbsp;6 |
| 12-31-2022 | 12.48 | 0.22 | (2.11) | (1.89) | (0.23) | (0.37) | (0.60) | &nbsp;&nbsp;9.99 | (15.08) | 0.25 | 0.17 | 2.01 | &nbsp;&nbsp;&nbsp;360 | 11 |
| 12-31-2021 | 11.66 | 0.23 | &nbsp;&nbsp;0.91 | &nbsp;&nbsp;1.14 | (0.25) | (0.07) | (0.32) | 12.48 | &nbsp;&nbsp;&nbsp;9.76 | 0.24 | 0.15 | 1.89 | &nbsp;&nbsp;&nbsp;476 | 11 |
| 12-31-2020 | 12.41 | 0.25 | (0.07) | &nbsp;&nbsp;0.18 | (0.27) | (0.66) | (0.93) | 11.66 | &nbsp;&nbsp;&nbsp;1.81 | 0.26 | 0.15 | 2.11 | &nbsp;&nbsp;&nbsp;498 | 12 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 06-30-2025<sup>5</sup> | 10.52 | 0.02 | &nbsp;&nbsp;0.26 | &nbsp;&nbsp;0.28 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 10.80 | &nbsp;&nbsp;&nbsp;2.66<sup>6</sup> | 0.46<sup>7</sup> | 0.37<sup>7</sup> | 0.39 | 2502 | &nbsp;&nbsp;9 |
| 12-31-2024 | &nbsp;&nbsp;9.91 | 0.23 | &nbsp;&nbsp;0.68 | &nbsp;&nbsp;0.91 | (0.25) | (0.05) | (0.30) | 10.52 | &nbsp;&nbsp;&nbsp;9.13 | 0.45 | 0.37 | 2.16 | 2654 | &nbsp;&nbsp;6 |
| 12-31-2023 | &nbsp;&nbsp;9.91 | 0.21 | &nbsp;&nbsp;0.86 | &nbsp;&nbsp;1.07 | (0.21) | (0.86) | (1.07) | &nbsp;&nbsp;9.91 | &nbsp;&nbsp;11.79 | 0.46 | 0.38 | 2.06 | 2852 | &nbsp;&nbsp;6 |
| 12-31-2022 | 12.38 | 0.20 | (2.09) | (1.89) | (0.21) | (0.37) | (0.58) | &nbsp;&nbsp;9.91 | (15.22) | 0.45 | 0.37 | 1.79 | 2969 | 11 |
| 12-31-2021 | 11.57 | 0.20 | &nbsp;&nbsp;0.90 | &nbsp;&nbsp;1.10 | (0.22) | (0.07) | (0.29) | 12.38 | &nbsp;&nbsp;&nbsp;9.54 | 0.44 | 0.35 | 1.66 | 3991 | 11 |
| 12-31-2020 | 12.33 | 0.22 | (0.08) | &nbsp;&nbsp;0.14 | (0.24) | (0.66) | (0.90) | 11.57 | &nbsp;&nbsp;&nbsp;1.55 | 0.46 | 0.35 | 1.89 | 4288 | 12 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 06-30-2025<sup>5</sup> | 10.66 | 0.03 | &nbsp;&nbsp;0.28 | &nbsp;&nbsp;0.31 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 10.97 | &nbsp;&nbsp;&nbsp;2.91<sup>6</sup> | 0.21<sup>7</sup> | 0.12<sup>7</sup> | 0.65 | 1074 | &nbsp;&nbsp;9 |
| 12-31-2024 | 10.04 | 0.26 | &nbsp;&nbsp;0.68 | &nbsp;&nbsp;0.94 | (0.27) | (0.05) | (0.32) | 10.66 | &nbsp;&nbsp;&nbsp;9.37 | 0.20 | 0.12 | 2.46 | 1079 | &nbsp;&nbsp;6 |
| 12-31-2023 | 10.03 | 0.24 | &nbsp;&nbsp;0.86 | &nbsp;&nbsp;1.10 | (0.23) | (0.86) | (1.09) | 10.04 | &nbsp;&nbsp;12.00 | 0.21 | 0.13 | 2.35 | 1055 | &nbsp;&nbsp;6 |
| 12-31-2022 | 12.52 | 0.23 | (2.11) | (1.88) | (0.24) | (0.37) | (0.61) | 10.03 | (14.98) | 0.20 | 0.12 | 2.08 | 1019 | 11 |
| 12-31-2021 | 11.69 | 0.24 | &nbsp;&nbsp;0.91 | &nbsp;&nbsp;1.15 | (0.25) | (0.07) | (0.32) | 12.52 | &nbsp;&nbsp;&nbsp;9.88 | 0.19 | 0.10 | 1.97 | 1269 | 11 |
| 12-31-2020 | 12.45 | 0.26 | (0.09) | &nbsp;&nbsp;0.17 | (0.27) | (0.66) | (0.93) | 11.69 | &nbsp;&nbsp;&nbsp;1.77 | 0.21 | 0.10 | 2.20 | 1217 | 12 |
| **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized.** |

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**The accompanying notes are an integral part of the financial statements.** <sub>10</sub>

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[**Table of Contents**](#JOB_JHVIT_a66a0ebf-d853-447a-bd5b-e614338e8513_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

------

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| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period |  | Ratios and supplemental data | Ratios and supplemental data | Ratios and supplemental data |
|  |  | **Income (loss) from investment operations** | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period ($) | Net<br> investment<br> income<br> (loss) ($)<sup>1, 2</sup> | Net realized and<br> unrealized<br> gain (loss)<br> on investments ($) | Total from<br> investment<br> operations ($) | From net<br> investment<br> income ($) | From net<br> realized<br> gain ($) | Total<br> distributions ($) | Net asset<br> value,<br> end of<br> period ($) | Total<br> return<br> (%)<sup>3</sup> | Expenses<br> before<br> reductions<br> (%)<sup>4</sup> | Expenses<br> including<br> reductions<br> (%)<sup>4</sup> | Net<br> investment<br> income<br> (loss) (%)<sup>2</sup> | Net<br> assets,<br> end of<br> period<br> (in millions) | Portfolio<br> turnover<br> (%) |
| **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 06-30-2025<sup>5</sup> | 10.13 | 0.03 | &nbsp;&nbsp;0.27 | &nbsp;&nbsp;0.30 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 10.43 | &nbsp;&nbsp;&nbsp;2.96<sup>6</sup> | 0.26<sup>7</sup> | 0.17<sup>7</sup> | 0.64 | &nbsp;&nbsp;&nbsp;122 | &nbsp;&nbsp;8 |
| 12-31-2024 | &nbsp;&nbsp;9.63 | 0.26 | &nbsp;&nbsp;0.53 | &nbsp;&nbsp;0.79 | (0.28) | (0.01) | (0.29) | 10.13 | &nbsp;&nbsp;&nbsp;8.16 | 0.25 | 0.17 | 2.58 | &nbsp;&nbsp;&nbsp;126 | &nbsp;&nbsp;6 |
| 12-31-2023 | &nbsp;&nbsp;9.61 | 0.24 | &nbsp;&nbsp;0.71 | &nbsp;&nbsp;0.95 | (0.24) | (0.69) | (0.93) | &nbsp;&nbsp;9.63 | &nbsp;&nbsp;10.64 | 0.25 | 0.18 | 2.44 | &nbsp;&nbsp;&nbsp;141 | &nbsp;&nbsp;6 |
| 12-31-2022 | 12.01 | 0.23 | (2.03) | (1.80) | (0.24) | (0.36) | (0.60) | &nbsp;&nbsp;9.61 | (14.87) | 0.25 | 0.17 | 2.19 | &nbsp;&nbsp;&nbsp;153 | 10 |
| 12-31-2021 | 11.44 | 0.24 | &nbsp;&nbsp;0.66 | &nbsp;&nbsp;0.90 | (0.25) | (0.08) | (0.33) | 12.01 | &nbsp;&nbsp;&nbsp;7.90 | 0.24 | 0.15 | 2.02 | &nbsp;&nbsp;&nbsp;196 | 10 |
| 12-31-2020 | 11.94 | 0.26 | &nbsp;&nbsp;0.10 | &nbsp;&nbsp;0.36 | (0.28) | (0.58) | (0.86) | 11.44 | &nbsp;&nbsp;&nbsp;3.31 | 0.25 | 0.14 | 2.29 | &nbsp;&nbsp;&nbsp;208 | 11 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 06-30-2025<sup>5</sup> | 10.02 | 0.02 | &nbsp;&nbsp;0.28 | &nbsp;&nbsp;0.30 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 10.32 | &nbsp;&nbsp;&nbsp;2.99<sup>6</sup> | 0.46<sup>7</sup> | 0.37<sup>7</sup> | 0.44 | &nbsp;&nbsp;&nbsp;768 | &nbsp;&nbsp;8 |
| 12-31-2024 | &nbsp;&nbsp;9.54 | 0.24 | &nbsp;&nbsp;0.51 | &nbsp;&nbsp;0.75 | (0.26) | (0.01) | (0.27) | 10.02 | &nbsp;&nbsp;&nbsp;7.82 | 0.45 | 0.37 | 2.38 | &nbsp;&nbsp;&nbsp;814 | &nbsp;&nbsp;6 |
| 12-31-2023 | &nbsp;&nbsp;9.52 | 0.22 | &nbsp;&nbsp;0.71 | &nbsp;&nbsp;0.93 | (0.22) | (0.69) | (0.91) | &nbsp;&nbsp;9.54 | &nbsp;&nbsp;10.54 | 0.45 | 0.38 | 2.24 | &nbsp;&nbsp;&nbsp;898 | &nbsp;&nbsp;6 |
| 12-31-2022 | 11.91 | 0.21 | (2.02) | (1.81) | (0.22) | (0.36) | (0.58) | &nbsp;&nbsp;9.52 | (15.10) | 0.45 | 0.37 | 1.95 | &nbsp;&nbsp;&nbsp;945 | 10 |
| 12-31-2021 | 11.34 | 0.22 | &nbsp;&nbsp;0.66 | &nbsp;&nbsp;0.88 | (0.23) | (0.08) | (0.31) | 11.91 | &nbsp;&nbsp;&nbsp;7.76 | 0.44 | 0.35 | 1.82 | 1277 | 10 |
| 12-31-2020 | 11.85 | 0.23 | &nbsp;&nbsp;0.10 | &nbsp;&nbsp;0.33 | (0.26) | (0.58) | (0.84) | 11.34 | &nbsp;&nbsp;&nbsp;3.05 | 0.45 | 0.34 | 2.06 | 1379 | 11 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 06-30-2025<sup>5</sup> | 10.14 | 0.03 | &nbsp;&nbsp;0.28 | &nbsp;&nbsp;0.31 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 10.45 | &nbsp;&nbsp;&nbsp;3.06<sup>6</sup> | 0.21<sup>7</sup> | 0.12<sup>7</sup> | 0.69 | &nbsp;&nbsp;&nbsp;118 | &nbsp;&nbsp;8 |
| 12-31-2024 | &nbsp;&nbsp;9.65 | 0.27 | &nbsp;&nbsp;0.51 | &nbsp;&nbsp;0.78 | (0.28) | (0.01) | (0.29) | 10.14 | &nbsp;&nbsp;&nbsp;8.09 | 0.20 | 0.12 | 2.66 | &nbsp;&nbsp;&nbsp;117 | &nbsp;&nbsp;6 |
| 12-31-2023 | &nbsp;&nbsp;9.62 | 0.25 | &nbsp;&nbsp;0.71 | &nbsp;&nbsp;0.96 | (0.24) | (0.69) | (0.93) | &nbsp;&nbsp;9.65 | &nbsp;&nbsp;10.79 | 0.20 | 0.13 | 2.52 | &nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;6 |
| 12-31-2022 | 12.03 | 0.24 | (2.04) | (1.80) | (0.25) | (0.36) | (0.61) | &nbsp;&nbsp;9.62 | (14.89) | 0.20 | 0.12 | 2.27 | &nbsp;&nbsp;&nbsp;116 | 10 |
| 12-31-2021 | 11.45 | 0.25 | &nbsp;&nbsp;0.67 | &nbsp;&nbsp;0.92 | (0.26) | (0.08) | (0.34) | 12.03 | &nbsp;&nbsp;&nbsp;8.03 | 0.19 | 0.10 | 2.12 | &nbsp;&nbsp;&nbsp;142 | 10 |
| 12-31-2020 | 11.96 | 0.27 | &nbsp;&nbsp;0.08 | &nbsp;&nbsp;0.35 | (0.28) | (0.58) | (0.86) | 11.45 | &nbsp;&nbsp;&nbsp;3.27 | 0.20 | 0.09 | 2.38 | &nbsp;&nbsp;&nbsp;139 | 11 |
| **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized.** |
| **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 06-30-2025<sup>5</sup> | &nbsp;&nbsp;9.67 | 0.04 | &nbsp;&nbsp;0.35 | &nbsp;&nbsp;0.39 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 10.06 | &nbsp;&nbsp;&nbsp;4.03<sup>6</sup> | 0.27<sup>7</sup> | 0.19<sup>7</sup> | 0.81 | &nbsp;&nbsp;&nbsp;&nbsp;74 | &nbsp;&nbsp;5 |
| 12-31-2024 | &nbsp;&nbsp;9.65 | 0.30 | &nbsp;&nbsp;0.05 | &nbsp;&nbsp;0.35 | (0.33) | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>8</sup> | (0.33) | &nbsp;&nbsp;9.67 | &nbsp;&nbsp;&nbsp;3.60 | 0.26 | 0.19 | 3.01 | &nbsp;&nbsp;&nbsp;&nbsp;78 | &nbsp;&nbsp;6 |
| 12-31-2023 | &nbsp;&nbsp;9.64 | 0.28 | &nbsp;&nbsp;0.23 | &nbsp;&nbsp;0.51 | (0.29) | (0.21) | (0.50) | &nbsp;&nbsp;9.65 | &nbsp;&nbsp;&nbsp;5.47 | 0.27 | 0.19 | 2.90 | &nbsp;&nbsp;&nbsp;&nbsp;95 | &nbsp;&nbsp;5 |
| 12-31-2022 | 11.66 | 0.26 | (1.99) | (1.73) | (0.28) | (0.01) | (0.29) | &nbsp;&nbsp;9.64 | (14.80) | 0.25 | 0.18 | 2.53 | &nbsp;&nbsp;&nbsp;109 | &nbsp;&nbsp;8 |
| 12-31-2021 | 11.62 | 0.28 | &nbsp;&nbsp;0.12 | &nbsp;&nbsp;0.40 | (0.29) | (0.07) | (0.36) | 11.66 | &nbsp;&nbsp;&nbsp;3.48 | 0.25 | 0.16 | 2.33 | &nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;7 |
| 12-31-2020 | 11.75 | 0.30 | &nbsp;&nbsp;0.09 | &nbsp;&nbsp;0.39 | (0.33) | (0.19) | (0.52) | 11.62 | &nbsp;&nbsp;&nbsp;3.39 | 0.26 | 0.14 | 2.57 | &nbsp;&nbsp;&nbsp;154 | 10 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 06-30-2025<sup>5</sup> | &nbsp;&nbsp;9.58 | 0.03 | &nbsp;&nbsp;0.34 | &nbsp;&nbsp;0.37 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;9.95 | &nbsp;&nbsp;&nbsp;3.86<sup>6</sup> | 0.47<sup>7</sup> | 0.39<sup>7</sup> | 0.61 | &nbsp;&nbsp;&nbsp;363 | &nbsp;&nbsp;5 |
| 12-31-2024 | &nbsp;&nbsp;9.56 | 0.28 | &nbsp;&nbsp;0.05 | &nbsp;&nbsp;0.33 | (0.31) | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>8</sup> | (0.31) | &nbsp;&nbsp;9.58 | &nbsp;&nbsp;&nbsp;3.43 | 0.46 | 0.39 | 2.86 | &nbsp;&nbsp;&nbsp;384 | &nbsp;&nbsp;6 |
| 12-31-2023 | &nbsp;&nbsp;9.56 | 0.26 | &nbsp;&nbsp;0.22 | &nbsp;&nbsp;0.48 | (0.27) | (0.21) | (0.48) | &nbsp;&nbsp;9.56 | &nbsp;&nbsp;&nbsp;5.20 | 0.47 | 0.39 | 2.63 | &nbsp;&nbsp;&nbsp;449 | &nbsp;&nbsp;5 |
| 12-31-2022 | 11.56 | 0.24 | (1.97) | (1.73) | (0.26) | (0.01) | (0.27) | &nbsp;&nbsp;9.56 | (14.93) | 0.45 | 0.38 | 2.31 | &nbsp;&nbsp;&nbsp;499 | &nbsp;&nbsp;8 |
| 12-31-2021 | 11.52 | 0.25 | &nbsp;&nbsp;0.13 | &nbsp;&nbsp;0.38 | (0.27) | (0.07) | (0.34) | 11.56 | &nbsp;&nbsp;&nbsp;3.31 | 0.45 | 0.36 | 2.10 | &nbsp;&nbsp;&nbsp;683 | &nbsp;&nbsp;7 |
| 12-31-2020 | 11.66 | 0.27 | &nbsp;&nbsp;0.09 | &nbsp;&nbsp;0.36 | (0.31) | (0.19) | (0.50) | 11.52 | &nbsp;&nbsp;&nbsp;3.13 | 0.46 | 0.34 | 2.36 | &nbsp;&nbsp;&nbsp;794 | 10 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 06-30-2025<sup>5</sup> | &nbsp;&nbsp;9.70 | 0.04 | &nbsp;&nbsp;0.36 | &nbsp;&nbsp;0.40 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 10.10 | &nbsp;&nbsp;&nbsp;4.12<sup>6</sup> | 0.22<sup>7</sup> | 0.14<sup>7</sup> | 0.86 | &nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;5 |
| 12-31-2024 | &nbsp;&nbsp;9.68 | 0.31 | &nbsp;&nbsp;0.04 | &nbsp;&nbsp;0.35 | (0.33) | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>8</sup> | (0.33) | &nbsp;&nbsp;9.70 | &nbsp;&nbsp;&nbsp;3.64 | 0.21 | 0.14 | 3.19 | &nbsp;&nbsp;&nbsp;&nbsp;49 | &nbsp;&nbsp;6 |
| 12-31-2023 | &nbsp;&nbsp;9.67 | 0.29 | &nbsp;&nbsp;0.23 | &nbsp;&nbsp;0.52 | (0.30) | (0.21) | (0.51) | &nbsp;&nbsp;9.68 | &nbsp;&nbsp;&nbsp;5.50 | 0.22 | 0.14 | 2.93 | &nbsp;&nbsp;&nbsp;&nbsp;52 | &nbsp;&nbsp;5 |
| 12-31-2022 | 11.69 | 0.28 | (2.00) | (1.72) | (0.29) | (0.01) | (0.30) | &nbsp;&nbsp;9.67 | (14.72) | 0.20 | 0.13 | 2.67 | &nbsp;&nbsp;&nbsp;&nbsp;53 | &nbsp;&nbsp;8 |
| 12-31-2021 | 11.65 | 0.29 | &nbsp;&nbsp;0.12 | &nbsp;&nbsp;0.41 | (0.30) | (0.07) | (0.37) | 11.69 | &nbsp;&nbsp;&nbsp;3.52 | 0.20 | 0.11 | 2.44 | &nbsp;&nbsp;&nbsp;&nbsp;62 | &nbsp;&nbsp;7 |
| 12-31-2020 | 11.78 | 0.31 | &nbsp;&nbsp;0.09 | &nbsp;&nbsp;0.40 | (0.34) | (0.19) | (0.53) | 11.65 | &nbsp;&nbsp;&nbsp;3.43 | 0.21 | 0.09 | 2.71 | &nbsp;&nbsp;&nbsp;&nbsp;59 | 10 |
| **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized. 8. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized. 8. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized. 8. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized. 8. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized. 8. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized. 8. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized. 8. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized. 8. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized. 8. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized. 8. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized. 8. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized. 8. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized. 8. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized. 8. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-25. Unaudited. 6. Not annualized. 7. Annualized. 8. Less than $0.005 per share.** |

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**The accompanying notes are an integral part of the financial statements.** <sub>11</sub>

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[**Table of Contents**](#JOB_JHVIT_a66a0ebf-d853-447a-bd5b-e614338e8513_TOC)

## John Hancock Variable Insurance Trust

#### Notes to financial statements (unaudited)

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1. Organization

John Hancock Variable Insurance Trust (the Trust) is a no-load, open-end management investment company organized as a Massachusetts business trust. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act). It is a series company with multiple investment series, four of which are presented in this report (collectively, Managed Volatility Portfolios, or the portfolios and individually, the portfolio). The portfolios operate as "funds of funds" that may invest in affiliated underlying funds of the Trust, other funds in the John Hancock group of funds complex, non-John Hancock funds and certain other permitted investments.

The portfolios may offer multiple classes of shares: Series I, Series II, and Series NAV. The shares currently offered by each portfolio are shown on the Statements of assets and liabilities. Shares of the portfolios are presently offered only to certain affiliates of John Hancock Variable Trust Advisers LLC (the Advisor). Shareholders of each class have exclusive voting rights to matters that affect that class. The distribution and service fees, if any, for each class may differ.

The investment objectives of the portfolios are as follows:

#### Managed Volatility Growth Portfolio
To seek long term growth of capital while seeking to both manage the volatility of return and limit the magnitude of portfolio losses.

#### Managed Volatility Balanced Portfolio
To seek growth of capital and current income while seeking to both manage the volatility of return and limit the magnitude of portfolio losses.

#### Managed Volatility Moderate Portfolio
To seek current income and growth of capital while seeking to both manage the volatility of return and limit the magnitude of portfolio losses.

#### Managed Volatility Conservative Portfolio
To seek current income and growth of capital while seeking to both manage the volatility of return and limit the magnitude of portfolio losses.

The accounting policies of the underlying funds in which the portfolios invest are outlined in the underlying funds' shareholder reports, which include the underlying funds' financial statements. These are available on the Securities and Exchange Commission (SEC) website at sec.gov. John Hancock underlying funds' shareholder reports are also available without charge by calling 800-344-1029 or visiting jhannuities.com. The underlying funds are not covered by this report.

2. Significant accounting policies

The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (US GAAP), which require management to make certain estimates and assumptions as of the date of the financial statements. Actual results could differ from those estimates and those differences could be significant. The portfolios qualify as investment companies under Topic 946 of Accounting Standards Codification of US GAAP.

Events or transactions occurring after the end of the fiscal period through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The following summarizes the significant accounting policies of the portfolios:

**Security valuation. Investments are stated at value as of the scheduled close of regular trading on the New York Stock Exchange (NYSE), normally at 4:00 P.M., Eastern Time. In case of emergency or other disruption resulting in the NYSE not opening for trading or the NYSE closing at a time other than the regularly scheduled close, the net asset value (NAV) may be determined as of the regularly scheduled close of the NYSE pursuant to the Valuation Policies and Procedures of the Advisor, John Hancock Variable Trust Advisers LLC, the portfolios' valuation designee.**

In order to value the securities, the portfolios use the following valuation techniques: Investments in affiliated underlying funds and/or other open-end management investment companies, other than exchange-traded funds (ETFs), are valued at their respective NAVs each business day. Equity securities, including exchange-traded or closed-end funds, are typically valued at the last sale price or official closing price on the exchange or principal market where the security trades. In the event there were no sales during the day or closing prices are not available, the securities are valued using the last available bid price. Futures contracts whose settlement prices are determined as of the close of the NYSE are typically valued based on the settlement price while other futures contracts are typically valued at the last traded price on the exchange on which they trade. Foreign equity index futures that trade in the electronic trading market subsequent to the close of regular trading may be valued at the last traded price in the electronic trading market as of 4:00 p.m. ET, or may be fair valued based on fair value adjustment factors provided by an independent pricing vendor in order to adjust for events that may occur between the close of foreign exchanges or markets and the close of the NYSE. Foreign securities and currencies are valued in U.S. dollars based on foreign currency exchange rates supplied by an independent pricing vendor.

In certain instances, the Pricing Committee of the Advisor may determine to value equity securities using prices obtained from another exchange or market if trading on the exchange or market on which prices are typically obtained did not open for trading as scheduled, or if trading closed earlier than scheduled, and trading occurred as normal on another exchange or market.

Other portfolio securities and assets, for which reliable market quotations are not readily available, are valued at fair value as determined in good faith by the Pricing Committee following procedures established by the Advisor and adopted by the Board of Trustees. The frequency with which these fair valuation procedures are used cannot be predicted and fair value of securities may differ significantly from the value that would have been used had a ready market for such securities existed.

The portfolios use a three tier hierarchy to prioritize the pricing assumptions, referred to as inputs, used in valuation techniques to measure fair value. Level 1 includes securities valued using quoted prices in active markets for identical securities, including registered investment companies. Level 2 includes securities valued using other significant observable inputs. Observable inputs may include quoted prices for similar securities, interest rates, prepayment

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[**Table of Contents**](#JOB_JHVIT_a66a0ebf-d853-447a-bd5b-e614338e8513_TOC)

**Significant accounting policies, continued &nbsp;&nbsp;&nbsp;&nbsp; speeds and credit risk. Prices for securities valued using these inputs are received from independent pricing vendors and brokers and are based on an evaluation of the inputs described. Level 3 includes securities valued using significant unobservable inputs when market prices are not readily available or reliable, including the Advisor's assumptions in determining the fair value of investments. Factors used in determining value may include market or issuer specific events or trends, changes in interest rates and credit quality. The inputs or methodology used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. Changes in valuation techniques and related inputs may result in transfers into or out of an assigned level within the disclosure hierarchy.**

The following is a summary of the values by input classification of the portfolios' investments as of June 30, 2025, by major security category or type:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total<br> value at<br> 6-30-25** | **Level 1<br> quoted<br> price** | **Level 2<br> significant<br> observable<br> inputs** | **Level 3<br> significant<br> unobservable<br> inputs** |
| **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Affiliated investment companies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$5036468044** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5036468044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**79198051** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79198051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$5115666095** | **$5115666095** | **—** | **—** |
| **Derivatives:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$11446880** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11446880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(253328)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(253328) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Affiliated investment companies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$3826246881** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3826246881 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**42824008** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42824008 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$3869070889** | **$3869070889** | **—** | **—** |
| **Derivatives:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$6198833** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6198833 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(134600)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(134600) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Affiliated investment companies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$993302881** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$993302881 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9176619** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9176619 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$1002479500** | **$1002479500** | **—** | **—** |
| **Derivatives:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$1235632** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1235632 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(34349)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(34349) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Affiliated investment companies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$481708378** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$481708378 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4007261** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4007261 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | &nbsp;&nbsp;&nbsp;&nbsp;**$485715639** | &nbsp;&nbsp;&nbsp;&nbsp;**$485715639** | **—** | **—** |
| **Derivatives:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$273802** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$273802 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

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[**Table of Contents**](#JOB_JHVIT_a66a0ebf-d853-447a-bd5b-e614338e8513_TOC)

#### Significant accounting policies, continued &nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total<br> value at<br> 6-30-25** | **Level 1<br> quoted<br> price** | **Level 2<br> significant<br> observable<br> inputs** | **Level 3<br> significant<br> unobservable<br> inputs** |
| **Managed Volatility Conservative Portfolio (continued)** | **Managed Volatility Conservative Portfolio (continued)** | **Managed Volatility Conservative Portfolio (continued)** | **Managed Volatility Conservative Portfolio (continued)** | **Managed Volatility Conservative Portfolio (continued)** |
| **Liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(4662)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(4662) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

**Security transactions and related investment income. Investment security transactions are accounted for on a trade date plus one basis for daily NAV calculations. However, for financial reporting purposes, investment transactions are reported on trade date. Interest income is accrued as earned. Capital gain distributions from underlying funds are recorded on ex-date and reflected as realized gains. Dividend income is recorded on ex-date, except for dividends of certain foreign securities where the dividend may not be known until after the ex-date. In those cases, dividend income, net of withholding taxes, is recorded when the portfolio becomes aware of the dividends. Non-cash dividends, if any, are recorded at the fair market value of the securities received. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds from litigation. Return of capital distributions from underlying funds, if any, are treated as a reduction of cost.** 

**Foreign investing. Assets, including investments, and liabilities denominated in foreign currencies are translated into U.S. dollar values each day at the prevailing exchange rate. Purchases and sales of securities, income and expenses are translated into U.S. dollars at the prevailing exchange rate on the date of the transaction. The effect of changes in foreign currency exchange rates on the value of securities is reflected as a component of the realized and unrealized gains (losses) on investments. Foreign investments are subject to a decline in the value of a foreign currency versus the U.S. dollar, which reduces the dollar value of securities denominated in that currency.**

Portfolios that invest internationally generally carry more risk than portfolios that invest strictly in U.S. securities. Risks can result from differences in economic and political conditions, regulations, market practices (including higher transaction costs), accounting standards and other factors.

**Overdraft. The portfolios may have the ability to borrow from banks for temporary or emergency purposes, including meeting redemption requests that otherwise might require the untimely sale of securities. Pursuant to the portfolios' custodian agreement, the custodian may loan money to the portfolios to make properly authorized payments. The portfolios are obligated to repay the custodian for any overdraft, including any related costs or expenses. The custodian may have a lien, security interest or security entitlement in any portfolio property that is not otherwise segregated or pledged, to the extent of any overdraft, and to the maximum extent permitted by law. Overdrafts at period end, if any, are presented under the caption Due to custodian in the Statements of assets and liabilities.**

**Line of credit. The portfolios and other affiliated funds have entered into a syndicated line of credit agreement with Citibank, N.A. as the administrative agent that enables them to participate in a $1 billion unsecured committed line of credit, which is in effect through July 13, 2026 unless extended or renewed. Excluding commitments designated for certain funds and subject to the needs of all other affiliated funds, a portfolio can borrow up to an aggregate commitment amount of $750 million, subject to asset coverage and other limitations as specified in the agreement. A commitment fee payable at the end of each calendar quarter, based on the average daily unused portion of each line of credit, is charged to each participating portfolio based on an asset-based allocation and is reflected in Other expenses on the Statements of operations. For the six months ended June 30, 2025, the portfolios had no borrowings under the line of credit.**

Commitment fees for the six months ended June 30, 2025 were as follows:

---

| | |
|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Commitment fee** |
| Managed Volatility Growth Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;$14147 |
| Managed Volatility Balanced Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10648 |
| Managed Volatility Moderate Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3001 |
| Managed Volatility Conservative Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1613 |

---

**Expenses. Within the John Hancock group of funds complex, expenses that are directly attributable to an individual portfolio are allocated to such portfolio. Expenses that are not readily attributable to a specific portfolio are allocated among all portfolios in an equitable manner, taking into consideration, among other things, the nature and type of expense and each portfolio's relative net assets. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.**

**Class allocations. Income, common expenses and realized and unrealized gains (losses) are determined at the portfolio level and allocated daily to each class of shares based on the net assets of the class. Class-specific expenses, such as distribution and service fees, if any, for all classes, are charged daily at the class level based on the net assets of each class and the specific expense rates applicable to each class.**

**Federal income taxes. Each portfolio intends to continue to qualify as a regulated investment company by complying with the applicable provisions of the Internal Revenue Code and will not be subject to federal income tax on taxable income that is distributed to shareholders. Therefore, no federal income tax provision is required.**

For federal income tax purposes, as of December 31, 2024, certain portfolios have capital loss carryforwards available to offset future net realized capital gains. The following table details the capital loss carryforwards available as of December 31, 2024:

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**No Expiration Date** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**No Expiration Date** |
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Short Term** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Long Term** |
| Managed Volatility Conservative Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;$10912097 | &nbsp;&nbsp;&nbsp;&nbsp;$20546785 |

---

As of December 31, 2024, the portfolios had no uncertain tax positions that would require financial statement recognition, derecognition or disclosure. The portfolios' federal tax returns are subject to examination by the Internal Revenue Service for a period of three years.

For federal income tax purposes, the costs of investments owned on June 30, 2025, including short-term investments, were as follows:

------

[**Table of Contents**](#JOB_JHVIT_a66a0ebf-d853-447a-bd5b-e614338e8513_TOC)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Aggregate<br> cost** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> (depreciation)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net unrealized<br> appreciation/<br> (depreciation)** |
| Managed Volatility Growth Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;$4892485947 | &nbsp;&nbsp;&nbsp;&nbsp;$402339481 | &nbsp;&nbsp;&nbsp;&nbsp;$(167965781) | &nbsp;&nbsp;&nbsp;&nbsp;$234373700 |
| Managed Volatility Balanced Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3897505082 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193763564 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(216133524) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22369960) |
| Managed Volatility Moderate Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1047094845 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59226122 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(102640184) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(43414062) |
| Managed Volatility Conservative Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;533608649 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12247564 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(59871434) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(47623870) |

---

**Distribution of income and gains. Distributions to shareholders from net investment income and net realized gains, if any, are recorded on the ex-date. The portfolios generally declare and pay dividends and capital gain distributions, if any, annually.**

Distributions paid by the portfolios with respect to each class of shares are calculated in the same manner, at the same time and in the same amount, except for the effect of class level expenses that may be applied differently to each class.

Such distributions, on a tax basis, if any, are determined in conformity with income tax regulations, which may differ from US GAAP. Distributions in excess of tax basis earnings and profits, if any, are reported in the portfolios' financial statements as a return of capital. The final determination of tax characteristics of the portfolios' distribution will occur at the end of the year and will subsequently be reported to shareholders. Short-term gains from underlying funds are treated as ordinary income for tax purposes.

Capital accounts within the financial statements are adjusted for permanent book-tax differences at fiscal year end. These adjustments have no impact on net assets or the results of operations. Temporary book-tax differences, if any, will reverse in a subsequent period. Book-tax differences are primarily attributable to straddle loss deferrals, wash sale loss deferrals and derivative transactions.

3. Derivative instruments

The portfolios may invest in derivatives in order to meet their investment objective. Derivatives include a variety of different instruments that may be traded in the over-the-counter (OTC) market, on a regulated exchange or through a clearing facility. The risks in using derivatives vary depending upon the structure of the instruments, including the use of leverage, optionality, the liquidity or lack of liquidity of the contract, the creditworthiness of the counterparty or clearing organization and the volatility of the position. Some derivatives involve risks that are potentially greater than the risks associated with investing directly in the referenced securities or other referenced underlying instrument. Specifically, the portfolios are exposed to the risk that the counterparty to an OTC derivatives contract will be unable or unwilling to make timely settlement payments or otherwise honor its obligations. OTC derivatives transactions typically can only be closed out with the other party to the transaction.

Certain derivatives are traded or cleared on an exchange or central clearinghouse. Exchange-traded or centrally-cleared transactions generally present less counterparty risk to a portfolio than OTC transactions. The exchange or clearinghouse stands between the portfolios and the broker to the contract and therefore, credit risk is generally limited to the failure of the exchange or clearinghouse and the clearing member.

**Futures. A futures contract is a contractual agreement to buy or sell a particular currency or financial instrument at a pre-determined price in the future. Futures are traded on an exchange and cleared through a central clearinghouse. Risks related to the use of futures contracts include possible illiquidity of the futures markets and contract prices that can be highly volatile and imperfectly correlated to movements in the underlying financial instrument and potential losses in excess of the amounts recognized on the Statements of assets and liabilities. Use of long futures contracts subjects the portfolios to the risk of loss up to the notional value of the futures contracts. Use of short futures contracts subjects the portfolios to unlimited risk of loss.**

Upon entering into a futures contract, the portfolios are required to deposit initial margin with the broker in the form of cash or securities. The amount of required margin is set by the broker and is generally based on a percentage of the contract value. The margin deposit must then be maintained at the established level over the life of the contract. Cash that has been pledged by the portfolios, if any, is detailed in the Statements of assets and liabilities as Collateral held at broker for futures contracts. Securities pledged by the portfolios, if any, are identified in the Portfolios of investments. Subsequent payments, referred to as variation margin, are made or received by the portfolios periodically and are based on changes in the market value of open futures contracts. Futures contracts are marked-to-market daily and unrealized gain or loss is recorded by the portfolios. Receivable/Payable for futures variation margin is included in the Statements of assets and liabilities. When the contract is closed, the portfolios record a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed.

The following table details how the portfolios used futures contracts during the six months ended June 30, 2025. In addition, the table summarizes the range of notional contract amounts held by the portfolios, as measured at each quarter end:

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Reason** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**USD Notional range** |
| Managed Volatility Growth Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;To manage volatility of returns and gain exposure to foreign currencies. | &nbsp;&nbsp;&nbsp;&nbsp;$93.0 million to $456.8 million |
| Managed Volatility Balanced Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;To manage volatility of returns and gain exposure to foreign currencies. | &nbsp;&nbsp;&nbsp;&nbsp;$227.2 million to $291.9 million |
| Managed Volatility Moderate Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;To manage volatility of returns and gain exposure to foreign currencies. | &nbsp;&nbsp;&nbsp;&nbsp;$44.4 million to $65.4 million |
| Managed Volatility Conservative Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;To manage volatility of returns and gain exposure to foreign currencies. | &nbsp;&nbsp;&nbsp;&nbsp;$9.3 million to $15.6 million |

---

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[**Table of Contents**](#JOB_JHVIT_a66a0ebf-d853-447a-bd5b-e614338e8513_TOC)

#### Derivative instruments, continued &nbsp;&nbsp;&nbsp;&nbsp; Fair value of derivative instruments by risk category
The table below summarizes the fair value of derivatives held by the portfolios at June 30, 2025 by risk category:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Risk** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Financial<br> instruments<br> location** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Assets<br> derivatives<br> fair value** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Liabilities<br> derivatives<br> fair value** |
| **Managed Volatility Growth Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;Currency &nbsp;&nbsp;&nbsp;&nbsp;Receivable/payable for futures variation margin<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$719080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(26913) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Equity &nbsp;&nbsp;&nbsp;&nbsp;Receivable/payable for futures variation margin<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10727800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(226415) |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$11446880** | &nbsp;&nbsp;&nbsp;&nbsp;**$(253328)** |
| **Managed Volatility Balanced Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;Currency &nbsp;&nbsp;&nbsp;&nbsp;Receivable/payable for futures variation margin<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$375968 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(25410) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Equity &nbsp;&nbsp;&nbsp;&nbsp;Receivable/payable for futures variation margin<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5822865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(109190) |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$6198833** | &nbsp;&nbsp;&nbsp;&nbsp;**$(134600)** |
| **Managed Volatility Moderate Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;Currency &nbsp;&nbsp;&nbsp;&nbsp;Receivable/payable for futures variation margin<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$62338 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(5078) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Equity &nbsp;&nbsp;&nbsp;&nbsp;Receivable/payable for futures variation margin<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1173294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(29271) |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$1235632** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(34349)** |
| **Managed Volatility Conservative Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;Currency &nbsp;&nbsp;&nbsp;&nbsp;Receivable/payable for futures variation margin<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$19651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Equity &nbsp;&nbsp;&nbsp;&nbsp;Receivable/payable for futures variation margin<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254151 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(4662) |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$273802** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(4662)** |

---

<br> <sup>1</sup> Reflects cumulative appreciation/depreciation on open futures as disclosed in the Derivatives section of the Portfolios of investments. Only the period end variation margin receivable/payable is separately reported on the Statements of assets and liabilities.

#### Effect of derivative instruments on the Statements of operations
The table below summarizes the net realized gain (loss) included in the net increase (decrease) in net assets from operations, classified by derivative instrument and risk category, for the six months ended June 30, 2025:

---

| | | |
|:---|:---|:---|
|  |  | &nbsp;&nbsp;&nbsp;**Statements of operations location - Net realized gain (loss) on:** |
| **Portfolio** | &nbsp;&nbsp;&nbsp;**Risk** | &nbsp;&nbsp;&nbsp;**Futures contracts** |
| **Managed Volatility Growth Portfolio** | &nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(2989830) |
|  | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(213329474) |
|  | &nbsp;&nbsp;&nbsp;**Total** | &nbsp;&nbsp;&nbsp;**$(216319304)** |
| **Managed Volatility Balanced Portfolio** | &nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(550737) |
|  | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(120790499) |
|  | &nbsp;&nbsp;&nbsp;**Total** | &nbsp;&nbsp;&nbsp;**$(121341236)** |
| **Managed Volatility Moderate Portfolio** | &nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(104204) |
|  | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24469024) |
|  | &nbsp;&nbsp;&nbsp;**Total** | &nbsp;&nbsp;&nbsp;&nbsp;**$(24573228)** |
| **Managed Volatility Conservative Portfolio** | &nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$64280 |
|  | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3622887) |
|  | &nbsp;&nbsp;&nbsp;**Total** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(3558607)** |

---

The table below summarizes the net change in unrealized appreciation (depreciation) included in the net increase (decrease) in net assets from operations, classified by derivative instrument and risk category, for the six months ended June 30, 2025:

---

| | | |
|:---|:---|:---|
|  |  | &nbsp;&nbsp;&nbsp;**Statements of operations location - Change in net unrealized appreciation (depreciation) of:** |
| **Portfolio** | &nbsp;&nbsp;&nbsp;**Risk** | &nbsp;&nbsp;&nbsp;**Futures contracts** |
| **Managed Volatility Growth Portfolio** | &nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1803224 |
|  | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18801623 |
|  | &nbsp;&nbsp;&nbsp;**Total** | &nbsp;&nbsp;&nbsp;**$20604847** |
| **Managed Volatility Balanced Portfolio** | &nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1218217 |
|  | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12427164 |
|  | &nbsp;&nbsp;&nbsp;**Total** | &nbsp;&nbsp;&nbsp;**$13645381** |
| **Managed Volatility Moderate Portfolio** | &nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$207826 |
|  | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2397164 |
|  | &nbsp;&nbsp;&nbsp;**Total** | &nbsp;&nbsp;&nbsp;&nbsp;**$2604990** |

---

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[**Table of Contents**](#JOB_JHVIT_a66a0ebf-d853-447a-bd5b-e614338e8513_TOC)

#### Derivative instruments, continued &nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  |  | &nbsp;&nbsp;&nbsp;**Statements of operations location - Change in net unrealized appreciation (depreciation) of:** |
| **Portfolio** | &nbsp;&nbsp;&nbsp;**Risk** | &nbsp;&nbsp;&nbsp;**Futures contracts** |
| **Managed Volatility Conservative Portfolio** | &nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;$47806 |
|  | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;541367 |
|  | &nbsp;&nbsp;&nbsp;**Total** | &nbsp;&nbsp;&nbsp;**$589173** |

---

4. Guarantees and indemnifications

Under the Trust's organizational documents, its Officers and Trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust, including the portfolios. Additionally, in the normal course of business, the Trust enters into contracts with service providers that contain general indemnification clauses. The Trust's maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Trust that have not yet occurred. The risk of material loss from such claims is considered remote.

5. Fees and transactions with affiliates

John Hancock Variable Trust Advisers LLC (the Advisor) serves as investment advisor for the portfolios. John Hancock Distributors, LLC (the Distributor), an affiliate of the Advisor, serves as principal underwriter of the portfolios. The Advisor and the Distributor are wholly owned subsidiaries of John Hancock Life Insurance Company (U.S.A.), which in turn is a subsidiary of Manulife Financial Corporation.

**Management fee. The portfolios have an investment management agreement with the Advisor under which the portfolios pay a daily management fee to the Advisor as detailed below. The Advisor has a subadvisory agreement with Manulife Investment Management (US) LLC, an indirect, wholly owned subsidiary of Manulife Financial Corporation and an affiliate of the Advisor. The portfolios are not responsible for payment of the subadvisory fees.**

The management fee has two components: (a) a fee on assets invested in affiliated funds (Affiliated funds assets) and (b) a fee on assets not invested in affiliated funds (Other assets). Affiliated funds are any fund of the Trust (excluding 500 Index Trust, International Equity Index Trust and Total Bond Market Trust), John Hancock Funds II (JHF II) and John Hancock Funds III. Aggregate net assets include the net assets of the portfolios and the net assets of similar funds of the Trust and JHF II.

Management fees are determined in accordance with the following schedule:

---

| | | |
|:---|:---|:---|
|  | **First $7.5 billion of aggregate net assets** | **Excess over $7.5 billion of aggregate net assets** |
| Affiliated funds assets | 0.050% | 0.040% |
| Other assets | 0.500% | 0.490% |

---

Expense reimbursements. The Advisor has voluntarily agreed to waive its management fee or reimburse the portfolios so that the aggregate management fee retained by the Advisor with respect to both the portfolios and the underlying investments does not exceed 0.50% of the portfolios' first $7.5 billion of aggregate daily net assets and 0.49% of the portfolios' aggregate net assets in excess of $7.5 billion. In addition, the Advisor voluntarily agreed to waive its management fees and/or reduce expenses by 0.01% of each portfolio's average net assets. These voluntary waivers may be terminated at any time by the Advisor upon notice to the Trust.

For the six months ended June 30, 2025, the expense reductions described above amounted to the following:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Expense reimbursement by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Expense reimbursement by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Expense reimbursement by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Expense reimbursement by class** |
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series I** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series II** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total** |
| Managed Volatility Growth Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;$198234 | &nbsp;&nbsp;&nbsp;&nbsp;$1822658 | &nbsp;&nbsp;&nbsp;&nbsp;$483907 | &nbsp;&nbsp;&nbsp;&nbsp;$2504799 |
| Managed Volatility Balanced Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145089 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1120058 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;468709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1733856 |
| Managed Volatility Moderate Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;319600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;417593 |
| Managed Volatility Conservative Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144149 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192181 |

---

Expenses waived or reimbursed in the current fiscal period are not subject to recapture in future fiscal periods.

The investment management fees, including the impact of the waivers and reimbursements as described above, incurred for the six months ended June 30, 2025, were equivalent to a net annual effective rate of the portfolio's average daily net assets as follows:

---

| | |
|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net Annual Effective Rate** |
| Managed Volatility Growth Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;0.10% |
| Managed Volatility Balanced Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;0.09% |
| Managed Volatility Moderate Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;0.09% |
| Managed Volatility Conservative Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;0.09% |

---

**Accounting and legal services. Pursuant to a service agreement, the portfolios reimburse the Advisor for all expenses associated with providing the administrative, financial, legal, compliance, accounting and recordkeeping services to the portfolios, including the preparation of all tax returns, periodic reports to shareholders and regulatory reports, among other services. These expenses are allocated to each share class based on its relative net assets at the time the expense was incurred. These accounting and legal services fees incurred, for the six months ended June 30, 2025, amounted to an annual rate of 0.02% of the portfolios' average daily net assets.**

**Distribution and service plans. The portfolios have a distribution agreement with the Distributor. The portfolios have adopted distribution and service plans for certain classes as detailed below pursuant to Rule 12b-1 under the 1940 Act, to pay the Distributor for services provided as the distributor of shares of the portfolios. The portfolios may pay up to the following contractual rates of distribution and service fees under these arrangements, expressed as an annual percentage of average daily net assets for each class of the portfolios' shares:**

------

[**Table of Contents**](#JOB_JHVIT_a66a0ebf-d853-447a-bd5b-e614338e8513_TOC)

#### Fees and transactions with affiliates, continued &nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Rule 12b-1 Fee** |
| Series I | &nbsp;&nbsp;&nbsp;&nbsp;0.15% |
| Series II | &nbsp;&nbsp;&nbsp;&nbsp;0.35% |

---

Currently only 0.05% for Series I shares and 0.25% for Series II shares are charged for 12b-1 fees.

Distribution and service fees for the six months ended June 30, 2025 were as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Distribution and service fees by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Distribution and service fees by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Distribution and service fees by class** |
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series l** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series ll** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total** |
| Managed Volatility Growth Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;$102809 | &nbsp;&nbsp;&nbsp;&nbsp;$4727669 | &nbsp;&nbsp;&nbsp;&nbsp;$4830478 |
| Managed Volatility Balanced Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3152388 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3234038 |
| Managed Volatility Moderate Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30479 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;968190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;998669 |
| Managed Volatility Conservative Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;458039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476409 |

---

**Trustee expenses. The portfolios compensate each Trustee who is not an employee of the Advisor or its affiliates. The costs of paying Trustee compensation and expenses are allocated to each portfolio based on their net assets relative to other funds within the John Hancock group of funds complex.** 

6. Portfolio share transactions

Transactions in portfolios' shares for the six months ended June 30, 2025 and for the year ended December 31, 2024 were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Managed Volatility Growth Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2642037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165562 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1838949 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;987341 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11417276 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2998438) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(34348101) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6401533) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(72451525) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(2767643)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(31706064)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(5248630)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(59195300)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3577 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$41132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8554106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$98406661 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(27117885) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(307956307) | &nbsp;&nbsp;&nbsp;&nbsp;(59863769) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(670552812) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(27114308)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(307915175)** | &nbsp;&nbsp;&nbsp;&nbsp;**(51309663)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(572146151)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3895415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;864187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9754601 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2358295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27341522 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2249808) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25802482) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4258716) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(48039653) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1909143)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(21907067)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1036234)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(10943530)** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(31791094)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(361528306)** | &nbsp;&nbsp;&nbsp;&nbsp;**(57594527)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(642284981)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Managed Volatility Balanced Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$506973 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$940267 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;934587 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10001141 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2350419) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25003152) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4718120) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(49909853) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(2303368)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(24496179)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(3693430)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(38968445)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$193197 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6930659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73477667 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(20777266) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(218832488) | &nbsp;&nbsp;&nbsp;&nbsp;(42359012) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(442786898) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(20777266)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(218832488)** | &nbsp;&nbsp;&nbsp;&nbsp;**(35410645)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(369116034)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$801794 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3756670 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2963606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31833721 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3362502) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(35918723) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7125780) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(75457247) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(3287637)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(35116929)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(3806704)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(39866856)** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(26368271)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(278445596)** | &nbsp;&nbsp;&nbsp;&nbsp;**(42910779)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(447951335)** |

---

------

[**Table of Contents**](#JOB_JHVIT_a66a0ebf-d853-447a-bd5b-e614338e8513_TOC)

#### Portfolio share transactions, continued &nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Managed Volatility Moderate Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1495029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$694482 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;342954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3484287 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(948075) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9635660) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2572822) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25923068) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(801830)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(8140631)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(2162440)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(21744299)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$564014 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$764904 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2105903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21185092 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(6794864) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(68181947) | &nbsp;&nbsp;&nbsp;&nbsp;(15112809) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(150631491) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(6739022)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(67617933)** | &nbsp;&nbsp;&nbsp;&nbsp;**(12926803)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(128681495)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77681 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$792096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2122995 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320717 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3264540 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(265447) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2698546) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1448876) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14579850) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(187766)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(1906450)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(918935)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(9192315)** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(7728618)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(77665014)** | &nbsp;&nbsp;&nbsp;&nbsp;**(16008178)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(159618109)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Managed Volatility Conservative Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 6-30-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;351525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3424310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;422497 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4183121 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2557223 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1030999) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10092881) | &nbsp;&nbsp;&nbsp;&nbsp;(2530742) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24716741) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(679474)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(6668571)** | &nbsp;&nbsp;&nbsp;&nbsp;**(1844969)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(17976397)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$542408 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1035164 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1252515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12041169 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(3630143) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(35155256) | &nbsp;&nbsp;&nbsp;&nbsp;(8234457) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(79856605) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(3574046)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(34612848)** | &nbsp;&nbsp;&nbsp;&nbsp;**(6877526)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(66780272)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121483 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1189678 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263403 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2604562 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168173 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1638424 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(167323) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1644090) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(786610) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7694929) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(45840)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(454412)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(355034)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(3451943)** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(4299360)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(41735831)** | &nbsp;&nbsp;&nbsp;&nbsp;**(9077529)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(88208612)** |

---

Affiliates of the Trust owned 100% of shares of the portfolios on June 30, 2025. Such concentration of shareholders' capital could have a material effect on the portfolios if such shareholders redeem from the portfolios.

7. Purchase and sale of securities

Purchases and sales of securities, other than short-term investments, amounted to the following for the six months ended June 30, 2025:

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Purchases** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Sales** |
| Managed Volatility Growth Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;$567114180 | &nbsp;&nbsp;&nbsp;&nbsp;$1211355803 |
| Managed Volatility Balanced Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;353356943 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;760383460 |
| Managed Volatility Moderate Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83255307 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183993372 |
| Managed Volatility Conservative Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25345733 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70099949 |

---

8. Investment in affiliated underlying funds

The portfolios invest primarily in affiliated underlying funds that are managed by the Advisor and its affiliates. The portfolios do not invest in the affiliated underlying funds for the purpose of exercising management or control; however, the portfolios' investment may represent a significant portion of each affiliated underlying funds' net assets. At June 30, 2025, the following portfolios held 5% or more of the net assets of the affiliated underlying funds shown below:

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Affiliated Fund** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Percentage of<br> underlying fund<br> net assets** |
| Managed Volatility Growth Portfolio |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Small Cap Dynamic Growth Fund | &nbsp;&nbsp;&nbsp;&nbsp;45.7% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Strategic Equity Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;22.7% |

---

------

[**Table of Contents**](#JOB_JHVIT_a66a0ebf-d853-447a-bd5b-e614338e8513_TOC)

#### Investment in affiliated underlying funds, continued &nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Affiliated Fund** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Percentage of<br> underlying fund<br> net assets** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Mid Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;18.6% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Emerging Markets Equity Fund | &nbsp;&nbsp;&nbsp;&nbsp;17.1% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Select Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;16.9% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Core Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;16.4% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Mid Cap Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;13.1% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Blue Chip Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.9% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Fundamental Large Cap Core Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4% |
| Managed Volatility Balanced Portfolio |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Small Cap Dynamic Growth Fund | &nbsp;&nbsp;&nbsp;&nbsp;24.1% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Select Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;22.1% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Core Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;21.5% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Strategic Equity Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;12.3% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Mid Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.7% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Emerging Markets Equity Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.3% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Blue Chip Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Mid Cap Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.5% |
| Managed Volatility Moderate Portfolio |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Select Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.0% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Core Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.8% |

---

Information regarding the portfolios' fiscal year to date purchases and sales of the affiliated underlying funds as well as income and capital gains earned by the portfolios, if any, is as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  |  |  | **Dividends and distributions** | **Dividends and distributions** |  |
| **Affiliate** | **Ending<br> share<br> amount** | **Beginning<br> value** | **Cost of<br> purchases** | **Proceeds<br> from shares<br> sold** | **Realized<br> gain<br> (loss)** | **Change in<br> unrealized<br> appreciation<br> (depreciation)** | **Income<br> distributions<br> received** | **Capital gain<br> distributions<br> received** | **Ending<br> value** |
| **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** |
| Blue Chip Growth | &nbsp;&nbsp;5747568 | $219285230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $(25007453) | $4567897 | $11055522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | $209901196 |
| Bond | 26868794 | &nbsp;&nbsp;&nbsp;401744089 | $13207458 | &nbsp;&nbsp;(56934384) | &nbsp;&nbsp;(7373675) | &nbsp;&nbsp;14234731 | $8549938 |  | &nbsp;&nbsp;364878219 |
| Core Bond | 11126070 | &nbsp;&nbsp;&nbsp;139993115 | &nbsp;&nbsp;&nbsp;&nbsp;2327771 | &nbsp;&nbsp;(20228199) | &nbsp;&nbsp;(3672971) | &nbsp;&nbsp;&nbsp;&nbsp;8751261 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;127170977 |
| Disciplined Value | 12123677 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | 313656165 | &nbsp;&nbsp;(26298792) | &nbsp;&nbsp;(2039294) | &nbsp;&nbsp;&nbsp;&nbsp;6013883 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;291331962 |
| Emerging Markets Equity | 21521774 | &nbsp;&nbsp;&nbsp;222086295 | &nbsp;&nbsp;11269358 | &nbsp;&nbsp;(29231024) | &nbsp;&nbsp;(1489843) | &nbsp;&nbsp;20115579 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;222750365 |
| Equity Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;306311782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | (322055415) | 36663438 | (20919805) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Fundamental Large Cap Core | &nbsp;&nbsp;6007310 | &nbsp;&nbsp;&nbsp;367103607 | &nbsp;&nbsp;99848553 | &nbsp;&nbsp;(33001430) | 14132452 | &nbsp;&nbsp;&nbsp;(8287985) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;439795197 |
| John Hancock Collateral Trust | &nbsp;&nbsp;7917905 | &nbsp;&nbsp;&nbsp;&nbsp;20005584 | 408158890 | (348961664) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5119) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp;&nbsp;&nbsp;843388 |  | &nbsp;&nbsp;&nbsp;&nbsp;79198051 |
| Mid Cap Growth | &nbsp;&nbsp;7139115 | &nbsp;&nbsp;&nbsp;&nbsp;88058003 | &nbsp;&nbsp;&nbsp;&nbsp;4316617 | &nbsp;&nbsp;(11711783) | &nbsp;&nbsp;(3530311) | &nbsp;&nbsp;&nbsp;&nbsp;8037119 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;85169645 |
| Mid Value | 10251152 | &nbsp;&nbsp;&nbsp;113868564 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(3691148) | &nbsp;&nbsp;&nbsp;&nbsp;632760 | &nbsp;&nbsp;&nbsp;(3173081) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;107637095 |
| Multifactor Developed International ETF | &nbsp;&nbsp;6062373 | &nbsp;&nbsp;&nbsp;201844090 | &nbsp;&nbsp;31085288 | &nbsp;&nbsp;(39550410) | 10344220 | &nbsp;&nbsp;28283827 | &nbsp;&nbsp;4464574 |  | &nbsp;&nbsp;232007015 |
| Multifactor Emerging Markets ETF | &nbsp;&nbsp;3496189 | &nbsp;&nbsp;&nbsp;115333213 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28680 | &nbsp;&nbsp;(25983881) | &nbsp;&nbsp;&nbsp;2719745 | &nbsp;&nbsp;&nbsp;&nbsp;9956000 | &nbsp;&nbsp;&nbsp;&nbsp;980550 |  | &nbsp;&nbsp;102053757 |
| Multifactor Mid Cap ETF | &nbsp;&nbsp;1889229 | &nbsp;&nbsp;&nbsp;120095945 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4606 | &nbsp;&nbsp;&nbsp;&nbsp;(7087563) | &nbsp;&nbsp;&nbsp;2917957 | &nbsp;&nbsp;&nbsp;&nbsp;(442376) | &nbsp;&nbsp;&nbsp;&nbsp;511887 |  | &nbsp;&nbsp;115488569 |
| Multifactor Small Cap ETF | &nbsp;&nbsp;2718448 | &nbsp;&nbsp;&nbsp;111164781 | &nbsp;&nbsp;&nbsp;&nbsp;4711545 | &nbsp;&nbsp;&nbsp;&nbsp;(7703725) | &nbsp;&nbsp;&nbsp;2211423 | &nbsp;&nbsp;&nbsp;(4228630) | &nbsp;&nbsp;&nbsp;&nbsp;475674 |  | &nbsp;&nbsp;106155394 |
| Select Bond | 78030556 | 1030948704 | &nbsp;&nbsp;13457900 | (146873236) | (24376046) | &nbsp;&nbsp;63209353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;936366675 |
| Small Cap Dynamic Growth | &nbsp;&nbsp;6476495 | &nbsp;&nbsp;&nbsp;&nbsp;35336980 | &nbsp;&nbsp;73200237 | &nbsp;&nbsp;&nbsp;&nbsp;(9044630) | &nbsp;&nbsp;(1198913) | &nbsp;&nbsp;&nbsp;&nbsp;8438966 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;106732640 |
| Small Cap Value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;72639391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(64076877) | &nbsp;&nbsp;(6798698) | &nbsp;&nbsp;&nbsp;(1763816) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

------

[**Table of Contents**](#JOB_JHVIT_a66a0ebf-d853-447a-bd5b-e614338e8513_TOC)

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  |  |  | **Dividends and distributions** | **Dividends and distributions** |  |
| **Affiliate** | **Ending<br> share<br> amount** | **Beginning<br> value** | **Cost of<br> purchases** | **Proceeds<br> from shares<br> sold** | **Realized<br> gain<br> (loss)** | **Change in<br> unrealized<br> appreciation<br> (depreciation)** | **Income<br> distributions<br> received** | **Capital gain<br> distributions<br> received** | **Ending<br> value** |
| Strategic Equity Allocation | &nbsp;&nbsp;81698166 | $1689234539 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $(241246757) | $(16736154) | &nbsp;&nbsp;$157777710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;$1589029338 |
|  |  |  |  |  | &nbsp;&nbsp;**$6968868** | **$297058618** | **$15826011** | **—** | **$5115666095** |
| **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** |
| Blue Chip Growth | &nbsp;&nbsp;&nbsp;&nbsp;3589346 | &nbsp;&nbsp;&nbsp;$133218143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;$(12075374) | &nbsp;&nbsp;&nbsp;$2936466 | &nbsp;&nbsp;&nbsp;&nbsp;$7003697 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;$131082932 |
| Bond | &nbsp;&nbsp;35374977 | &nbsp;&nbsp;&nbsp;&nbsp;517883586 | $14106508 | &nbsp;&nbsp;&nbsp;&nbsp;(60613750) | &nbsp;&nbsp;&nbsp;&nbsp;(7869631) | &nbsp;&nbsp;&nbsp;&nbsp;16885476 | &nbsp;&nbsp;$11156031 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480392189 |
| Core Bond | &nbsp;&nbsp;14617479 | &nbsp;&nbsp;&nbsp;&nbsp;180118945 | &nbsp;&nbsp;&nbsp;&nbsp;1956955 | &nbsp;&nbsp;&nbsp;&nbsp;(21619033) | &nbsp;&nbsp;&nbsp;&nbsp;(3759299) | &nbsp;&nbsp;&nbsp;&nbsp;10380220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167077788 |
| Disciplined Value | &nbsp;&nbsp;&nbsp;&nbsp;7613228 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | 193183063 | &nbsp;&nbsp;&nbsp;&nbsp;(13163735) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(787374) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3713920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182945874 |
| Emerging Markets Equity | &nbsp;&nbsp;10394465 | &nbsp;&nbsp;&nbsp;&nbsp;105439611 | &nbsp;&nbsp;&nbsp;&nbsp;5901774 | &nbsp;&nbsp;&nbsp;&nbsp;(12880787) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(225984) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9348096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107582710 |
| Equity Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;188534182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(198261904) | &nbsp;&nbsp;&nbsp;24577626 | &nbsp;&nbsp;&nbsp;&nbsp;(14849904) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Fundamental Large Cap Core | &nbsp;&nbsp;&nbsp;&nbsp;3731817 | &nbsp;&nbsp;&nbsp;&nbsp;203557384 | &nbsp;&nbsp;79427933 | &nbsp;&nbsp;&nbsp;&nbsp;(13746727) | &nbsp;&nbsp;&nbsp;&nbsp;4274400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(306689) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;273206301 |
| John Hancock Collateral Trust | &nbsp;&nbsp;&nbsp;&nbsp;4281373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25880612 | 216792455 | &nbsp;&nbsp;(199846259) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1464) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1336) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;698739 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42824008 |
| Mid Cap Growth | &nbsp;&nbsp;&nbsp;&nbsp;3022915 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36325934 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(2161948) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(104122) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2003516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36063380 |
| Mid Value | &nbsp;&nbsp;&nbsp;&nbsp;4789502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52139716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(717088) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1281877) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50289774 |
| Multifactor Developed International ETF | &nbsp;&nbsp;&nbsp;&nbsp;2202551 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84986558 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4775 | &nbsp;&nbsp;&nbsp;&nbsp;(15804247) | &nbsp;&nbsp;&nbsp;&nbsp;4166153 | &nbsp;&nbsp;&nbsp;&nbsp;10938388 | &nbsp;&nbsp;&nbsp;&nbsp;1622047 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84291627 |
| Multifactor Emerging Markets ETF | &nbsp;&nbsp;&nbsp;&nbsp;1688606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55319931 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13714 | &nbsp;&nbsp;&nbsp;&nbsp;(12227366) | &nbsp;&nbsp;&nbsp;&nbsp;1349339 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4834791 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475848 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49290409 |
| Multifactor Mid Cap ETF | &nbsp;&nbsp;&nbsp;&nbsp;1039862 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64711303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1865 | &nbsp;&nbsp;&nbsp;&nbsp;(2593461) | &nbsp;&nbsp;&nbsp;&nbsp;1098276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;348781 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;281750 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63566764 |
| Multifactor Small Cap ETF | &nbsp;&nbsp;&nbsp;&nbsp;1435719 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49819892 | &nbsp;&nbsp;10435921 | &nbsp;&nbsp;&nbsp;&nbsp;(4001710) | &nbsp;&nbsp;&nbsp;&nbsp;1175657 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1364933) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251222 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56064827 |
| Select Bond | 102169648 | &nbsp;&nbsp;1321953750 | &nbsp;&nbsp;&nbsp;&nbsp;9833375 | &nbsp;&nbsp;(156209782) | &nbsp;&nbsp;(26675929) | &nbsp;&nbsp;&nbsp;&nbsp;77134364 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;1226035778 |
| Small Cap Dynamic Growth | &nbsp;&nbsp;&nbsp;&nbsp;3420729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18795726 | &nbsp;&nbsp;38491060 | &nbsp;&nbsp;&nbsp;&nbsp;(4794004) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(787495) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4668328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56373615 |
| Small Cap Value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44517926 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(39270285) | &nbsp;&nbsp;&nbsp;&nbsp;(5167962) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(79679) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Strategic Equity Allocation | &nbsp;&nbsp;44317888 | &nbsp;&nbsp;&nbsp;&nbsp;893255644 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(109380559) | &nbsp;&nbsp;&nbsp;&nbsp;(1407932) | &nbsp;&nbsp;&nbsp;&nbsp;79515760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;861982913 |
|  |  |  |  |  | **$(7060252)** | **$208890919** | **$14485637** | **—** | **$3869070889** |
| **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** |
| Blue Chip Growth | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;801748 | &nbsp;&nbsp;&nbsp;&nbsp;$29870414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(2826028) | &nbsp;&nbsp;&nbsp;&nbsp;$586323 | &nbsp;&nbsp;&nbsp;&nbsp;$1649117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$29279826 |
| Bond | &nbsp;&nbsp;11143299 | &nbsp;&nbsp;&nbsp;&nbsp;161390442 | &nbsp;&nbsp;$4457219 | &nbsp;&nbsp;&nbsp;&nbsp;(17332422) | &nbsp;&nbsp;&nbsp;&nbsp;(2269346) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5080104 | &nbsp;&nbsp;&nbsp;$3495765 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151325997 |
| Core Bond | &nbsp;&nbsp;&nbsp;&nbsp;4600015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56160262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;298599 | &nbsp;&nbsp;&nbsp;&nbsp;(5950743) | &nbsp;&nbsp;&nbsp;&nbsp;(1031383) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3101438 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52578173 |
| Disciplined Value | &nbsp;&nbsp;&nbsp;&nbsp;1805393 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;45434713 | &nbsp;&nbsp;&nbsp;&nbsp;(2792302) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(132040) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;873221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43383592 |
| Emerging Markets Equity | &nbsp;&nbsp;&nbsp;&nbsp;1940588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21265505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285826 | &nbsp;&nbsp;&nbsp;&nbsp;(3231808) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1680339 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20085082 |
| Equity Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44426347 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(46721441) | &nbsp;&nbsp;&nbsp;&nbsp;6594768 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4299674) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Fundamental Large Cap Core | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;847501 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44395121 | &nbsp;&nbsp;19906147 | &nbsp;&nbsp;&nbsp;&nbsp;(3147107) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;999112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(107753) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62045520 |
| John Hancock Collateral Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;917442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6943245 | &nbsp;&nbsp;48580122 | &nbsp;&nbsp;&nbsp;&nbsp;(46346087) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(132) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(529) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177258 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9176619 |
| Mid Cap Growth | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;770963 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9240655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;418955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(983553) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(38289) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;559819 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9197587 |
| Mid Value | &nbsp;&nbsp;&nbsp;&nbsp;1123853 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12172396 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(140660) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(325536) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11800460 |
| Multifactor Developed International ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;238234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9268134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;382 | &nbsp;&nbsp;&nbsp;&nbsp;(1799370) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;426104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1221965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175445 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9117215 |

---

------

[**Table of Contents**](#JOB_JHVIT_a66a0ebf-d853-447a-bd5b-e614338e8513_TOC)

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  |  |  | **Dividends and distributions** | **Dividends and distributions** |  |
| **Affiliate** | **Ending<br> share<br> amount** | **Beginning<br> value** | **Cost of<br> purchases** | **Proceeds<br> from shares<br> sold** | **Realized<br> gain<br> (loss)** | **Change in<br> unrealized<br> appreciation<br> (depreciation)** | **Income<br> distributions<br> received** | **Capital gain<br> distributions<br> received** | **Ending<br> value** |
| Multifactor Emerging Markets ETF | &nbsp;&nbsp;&nbsp;&nbsp;315275 | &nbsp;&nbsp;$8960851 | &nbsp;&nbsp;&nbsp;$406486 | $(1274361) | &nbsp;&nbsp;&nbsp;&nbsp;$156983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$952918 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$88829 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9202877 |
| Multifactor Mid Cap ETF | &nbsp;&nbsp;&nbsp;&nbsp;122767 | &nbsp;&nbsp;&nbsp;&nbsp;7627402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;782 | &nbsp;&nbsp;&nbsp;&nbsp;(297921) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33264 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7504747 |
| Multifactor Small Cap ETF | &nbsp;&nbsp;&nbsp;&nbsp;244624 | &nbsp;&nbsp;&nbsp;&nbsp;6218555 | &nbsp;&nbsp;3871031 | &nbsp;&nbsp;&nbsp;&nbsp;(726343) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;348654 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(159330) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42804 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9552567 |
| Select Bond | 32213115 | 412288069 | &nbsp;&nbsp;2254223 | (43775574) | &nbsp;&nbsp;&nbsp;(7525386) | &nbsp;&nbsp;&nbsp;23316046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;386557378 |
| Small Cap Dynamic Growth | &nbsp;&nbsp;&nbsp;&nbsp;581239 | &nbsp;&nbsp;&nbsp;&nbsp;4064452 | &nbsp;&nbsp;5889070 | &nbsp;&nbsp;&nbsp;&nbsp;(923938) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(317502) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;866740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9578822 |
| Small Cap Value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;8903629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(7854096) | &nbsp;&nbsp;&nbsp;(1068594) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19061 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Strategic Equity Allocation | &nbsp;&nbsp;9362110 | 189212514 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | (23876733) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48610 | &nbsp;&nbsp;&nbsp;16708647 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182093038 |
|  |  |  |  |  | **$(2946270)** | **$51182834** | **$4013365** | **—** | **$1002479500** |
| **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** |
| Blue Chip Growth | &nbsp;&nbsp;&nbsp;&nbsp;210575 | &nbsp;&nbsp;$7781835 | &nbsp;&nbsp;&nbsp;$427802 | $(1146415) | &nbsp;&nbsp;&nbsp;&nbsp;$499786 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$127186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7690194 |
| Bond | &nbsp;&nbsp;7262534 | 104145774 | &nbsp;&nbsp;2723408 | (10107193) | &nbsp;&nbsp;&nbsp;(1281592) | &nbsp;&nbsp;&nbsp;&nbsp;3144820 | &nbsp;&nbsp;$2265595 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98625217 |
| Core Bond | &nbsp;&nbsp;2990055 | &nbsp;&nbsp;36103649 | &nbsp;&nbsp;&nbsp;&nbsp;177170 | &nbsp;&nbsp;(3449508) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(676312) | &nbsp;&nbsp;&nbsp;&nbsp;2021328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34176327 |
| Disciplined Value | &nbsp;&nbsp;&nbsp;&nbsp;518061 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | 12845685 | &nbsp;&nbsp;&nbsp;&nbsp;(624323) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19107) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246744 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12448999 |
| Emerging Markets Equity | &nbsp;&nbsp;&nbsp;&nbsp;418231 | &nbsp;&nbsp;&nbsp;&nbsp;4637007 | &nbsp;&nbsp;&nbsp;&nbsp;121631 | &nbsp;&nbsp;&nbsp;&nbsp;(819202) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(469130) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;858384 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4328690 |
| Equity Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;12924053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | (13580590) | &nbsp;&nbsp;&nbsp;&nbsp;1065530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(408993) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Fundamental Large Cap Core | &nbsp;&nbsp;&nbsp;&nbsp;198790 | &nbsp;&nbsp;10796643 | &nbsp;&nbsp;4490859 | &nbsp;&nbsp;&nbsp;&nbsp;(983229) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81447 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14553386 |
| John Hancock Collateral Trust | &nbsp;&nbsp;&nbsp;&nbsp;400630 | &nbsp;&nbsp;&nbsp;&nbsp;2428405 | 10768341 | &nbsp;&nbsp;(9188898) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(181) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(406) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80088 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4007261 |
| Multifactor Emerging Markets ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67941 | &nbsp;&nbsp;&nbsp;&nbsp;1927996 | &nbsp;&nbsp;&nbsp;&nbsp;166171 | &nbsp;&nbsp;&nbsp;&nbsp;(352683) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176157 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19119 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1983198 |
| Multifactor Mid Cap ETF | &nbsp;&nbsp;&nbsp;&nbsp;111259 | &nbsp;&nbsp;&nbsp;&nbsp;6980705 | &nbsp;&nbsp;&nbsp;&nbsp;174220 | &nbsp;&nbsp;&nbsp;&nbsp;(535476) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;304246 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(122432) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30219 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6801263 |
| Multifactor Small Cap ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68433 | &nbsp;&nbsp;&nbsp;&nbsp;5511024 | &nbsp;&nbsp;&nbsp;&nbsp;271495 | &nbsp;&nbsp;(2825692) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;499282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(783800) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12028 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2672309 |
| Select Bond | 20946168 | 265308333 | &nbsp;&nbsp;1191720 | (25435584) | &nbsp;&nbsp;&nbsp;(4737935) | &nbsp;&nbsp;&nbsp;15027482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251354016 |
| Small Cap Dynamic Growth | &nbsp;&nbsp;&nbsp;&nbsp;162499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;2656949 | &nbsp;&nbsp;&nbsp;&nbsp;(276821) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;281328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2677989 |
| Strategic Equity Allocation | &nbsp;&nbsp;2282611 | &nbsp;&nbsp;45861179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98623 | &nbsp;&nbsp;(5701241) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2096 | &nbsp;&nbsp;&nbsp;&nbsp;4136133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44396790 |
|  |  |  |  |  | **$(4649780)** | **$24871597** | **$2407049** | **—** | &nbsp;&nbsp;&nbsp;**$485715639** |

---

9. Segment reporting

The management committee of the Advisor acts as the portfolios' chief operating decision maker (the CODM), assessing performance and making decisions about resource allocation. Each portfolio represents a single operating segment, as the CODM monitors and assesses the operating results of the portfolio as a whole, and the portfolio's long-term strategic asset allocation is managed in accordance with the terms of its prospectus, based on a defined investment strategy which is executed by the portfolio management team of the portfolio's subadvisor. Segment assets are reflected in the Statements of assets and liabilities as "Total assets", which consists primarily of total investments at value. The financial information, including the measurement of profit and loss and significant expenses, provided to and reviewed by the CODM is consistent with that presented within the Statements of operations, which includes "Increase (decrease) in net assets from operations", Statements of changes in net assets, which includes "Increase (decrease) in net assets from portfolio share transactions", and Financial highlights, which includes total return and income and expense ratios.

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[**Table of Contents**](#JOB_JHVIT_a66a0ebf-d853-447a-bd5b-e614338e8513_TOC)

## John Hancock Variable Insurance Trust

#### Evaluation of Advisory and Subadvisory Agreements by the Board of Trustees

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This section describes the evaluation by the Board of Trustees (the Board) of John Hancock Variable Insurance Trust (the Trust) of the Advisory Agreement (the Advisory Agreement) and the Subadvisory Agreement (the Subadvisory Agreement) with respect to each of the portfolios of the Trust included in this report (the Funds). The Advisory and Subadvisory Agreements are collectively referred to as the Agreements. Prior to the June 23 - 26, 2025 meeting at which the Agreements were approved, the Board also discussed and considered information regarding the proposed continuation of the Agreements at a meeting held on May 27 - 29, 2025. The Board also receives information relating to the proposed continuation of the Agreements noted above throughout the year on an on-going basis. The Trustees who are not "interested persons" of the Trust as defined by the Investment Company Act of 1940, as amended (the "1940 Act") (the "Independent Trustees") also met separately to evaluate and discuss the information presented, including with counsel to the Independent Trustees and a third-party consulting firm.

#### Approval of Advisory and Subadvisory Agreements
At meetings held on June 23 - 26, 2025, the Board, including the Independent Trustees, reapproved for an annual period, the continuation of the Advisory Agreement between the Trust and the Advisor and the Subadvisory Agreement between the Advisor and the Subadvisor with respect to each of the Funds in this report.

In considering the Advisory Agreement and the Subadvisory Agreement with respect to each Fund, the Board received in advance of the meetings a variety of materials relating to each Fund, the Advisor and the Subadvisor, including comparative performance, fee and expense information for peer groups of similar funds prepared by an independent third-party provider of fund data; performance information for the Funds' benchmark indices; and, with respect to the Subadvisor, comparative performance information for comparably managed accounts, as applicable; and other information provided by the Advisor and the Subadvisor regarding the nature, extent and quality of services provided by the Advisor and the Subadvisor under their respective Agreements, as well as information regarding the Advisor's revenues and costs of providing services to the Funds and any compensation paid to affiliates of the Advisor. At the meetings at which the renewal of the Advisory Agreement and Subadvisory Agreement are considered, particular focus is given to information concerning Fund performance, comparability of fees and total expenses, and profitability. However, the Board noted that the evaluation process with respect to the Advisor and the Subadvisor is an ongoing one. In this regard, the Board also took into account discussions with management and information provided to the Board (including its various committees) at prior meetings with respect to the services provided by the Advisor and the Subadvisor to the Funds, including quarterly performance reports prepared by management containing reviews of investment results, and periodic presentations from the Subadvisor with respect to the Funds. The information received and considered by the Board both in conjunction with the May and June meetings and throughout the year was both written and oral. The Board noted the affiliation of the Subadvisor with the Advisor, noting any potential conflicts of interest. The Board also considered the nature, quality, and extent of the non-advisory services, if any, to be provided to the Funds by the Advisor's affiliates, including distribution services. The Board considered the Advisory Agreement and the Subadvisory Agreement separately in the course of its review. In doing so, the Board noted the respective roles of the Advisor and the Subadvisor in providing services to the Funds. In addition, although the Board approved the renewal of the Agreements for all of the Funds at the June meeting, the Board considered each Fund separately.

Throughout the process, the Board asked questions of and requested additional information from management. The Board is assisted by counsel for the Trust and the Independent Trustees are also separately assisted by independent legal counsel throughout the process. The Independent Trustees also received a memorandum from their independent counsel discussing the legal standards for their consideration of the proposed continuation of the Agreements and discussed the proposed continuation of the Agreements in private sessions with their independent legal counsel at which no representatives of management were present.

#### Approval of Advisory Agreement
In approving the Advisory Agreement with respect to each Fund, the Board, including the Independent Trustees, considered a variety of factors, including those discussed below. The Board also considered other factors (including conditions and trends prevailing generally in the economy, the securities markets and the industry) and did not treat any single factor as determinative, and each Trustee may have attributed different weights to different factors. The Board's conclusions may be based in part on its consideration of the advisory and subadvisory arrangements in prior years and on the Board's ongoing regular review of Fund performance and operations throughout the year.

*<u>Nature, extent, and quality of services.</u> Among the information received by the Board from the Advisor relating to the nature, extent, and quality of services provided to the Funds, the Board reviewed information provided by the Advisor relating to its operations and personnel, descriptions of its organizational and management structure, and information regarding the Advisor's compliance and regulatory history, including its Form ADV. The Board also noted that on a regular basis it receives and reviews information from the Trust's Chief Compliance Officer (CCO) regarding the Funds' compliance policies and procedures established pursuant to Rule 38a-1 under the 1940 Act. The Board observed that the scope of services provided by the Advisor, and of the undertakings required of the Advisor in connection with those services, including maintaining and monitoring its own and the Fund's compliance programs, risk management programs, liquidity risk management programs, derivatives risk management programs, and cybersecurity programs, had expanded over time as a result of regulatory, market and other developments. The Board considered that the Advisor is responsible for the management of the day-to-day operations of the Funds, including but not limited to, general supervision of and coordination of the services provided by the Subadvisor, and is also responsible for monitoring and reviewing the activities of the Subadvisor and third-party service providers. The Board also considered the significant risks assumed by the Advisor in connection with the services provided to the Funds including entrepreneurial risk in sponsoring new Funds and ongoing risks including investment, operational, enterprise, litigation, regulatory and compliance risks with respect to all Funds.*

In considering the nature, extent, and quality of the services provided by the Advisor, the Trustees also took into account their knowledge of the Advisor's management and the quality of the performance of the Advisor's duties, through Board meetings, discussions and reports during the preceding year and through each Trustee's experience as a Trustee of the Trust and of the other trusts in the complex.

In the course of their deliberations regarding the Advisory Agreement, the Board considered, among other things:

(a) the skills and competency with which the Advisor has in the past managed the Trust's affairs and its subadvisory relationships, the Advisor's oversight and monitoring of the Subadvisor's investment performance and compliance programs, such as the Subadvisor's compliance with fund policies and objectives, review of brokerage matters including with respect to trade allocation and best execution, and the Advisor's timeliness in responding to performance issues;

(b) the background, qualifications and skills of the Advisor's personnel;

(c) the Advisor's compliance policies and procedures and its responsiveness to regulatory changes and fund industry developments;

(d) the Advisor's administrative capabilities, including its ability to supervise the other service providers for the Funds, as well as the Advisor's oversight of any securities lending activity, its monitoring of class action litigation and collection of class action settlements on behalf of the Funds, and bringing loss recovery actions on behalf of the Funds;

(e) the financial condition of the Advisor and whether it has the financial wherewithal to provide a high level and quality of services to the Funds;

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[**Table of Contents**](#JOB_JHVIT_a66a0ebf-d853-447a-bd5b-e614338e8513_TOC)

## John Hancock Variable Insurance Trust

#### Evaluation of Advisory and Subadvisory Agreements by the Board of Trustees

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(f) the Advisor's initiatives intended to improve various aspects of the Trust's operations and investor experience with the Funds; and

(g) the Advisor's reputation and experience in serving as an investment advisor to the Trust and the benefit to contract holders of investing in funds that are part of a family of variable insurance portfolios offering a variety of investments.

The Board concluded that the Advisor may reasonably be expected to continue to provide a high quality of services under the Advisory Agreement with respect to the Funds.

*<u>Investment performance</u>. In considering each Fund's performance, the Board noted that it reviews at its regularly scheduled meetings information about the Funds' performance results. In connection with the consideration of the Advisory Agreement, the Board:*

(a) reviewed information prepared by management regarding the Funds' performance;

(b) considered the comparative performance of each Fund's respective benchmark;

(c) considered the performance of comparable funds, if any, as included in the report prepared by an independent third-party provider of fund data; and

(d) took into account the Advisor's analysis of each Fund's performance and its plans and recommendations regarding the Trust's subadvisory arrangements generally and with respect to particular Funds.

The Board noted that while it found the data provided by the independent third-party generally useful it recognized its limitations, including in particular that the data may vary depending on the end date selected and that the results of the performance comparisons may vary depending on the selection of the peer group. The Board concluded that while each Fund has underperformed the historical performance of comparable funds based on the median percentile, the Board considered steps the Advisor had taken or plans to take to address performance and concluded that such performance is being monitored and reasonably being addressed, and the Board also considered the impact of overall market conditions on the Funds' performance.

*<u>Fees and expenses.</u> The Board reviewed comparative information prepared by an independent third-party provider of fund data including, among other data, each Fund's contractual and net management fees (and subadvisory fees, to the extent available) and total expenses as compared to similarly situated investment companies deemed to be comparable to the Fund in light of the nature, extent and quality of the management and subadvisory services provided by the Advisor and the Subadvisors. The Board considered each Fund's ranking within a smaller group of peer funds chosen by the independent third-party provider, as well as the Fund's ranking within broader groups of funds. In comparing each Fund's contractual and net management fees to that of comparable funds, the Board noted that such fee includes both advisory and administrative costs.*

The Board took into account management's discussion with respect to the overall management fee, the fees of the Subadvisor, including the amount of the advisory fees retained by the Advisor after payment of the subadvisory fee, in each case in light of the services rendered for those amounts and the risks undertaken by the Advisor. The Board also noted that, in addition, the Advisor is currently waiving fees and/or reimbursing expenses with respect to certain of the Funds. The Board also noted that the Advisor pays the subadvisory fee of the Funds. In addition, the Board noted that the Advisor continued advisory and subadvisory fee reductions in the past year with respect to several Funds. The Board also took into account that management had agreed to implement an overall fee waiver across the complex, which is discussed further below. The Board also noted management's discussion of the Funds' expenses, as well as certain actions taken over the past several years to reduce the Funds' operating expenses. The Board reviewed information provided by the Advisor concerning investment advisory fees charged to other clients (including other funds in the complex) having similar investment mandates, if any. The Board considered

any differences between the Advisor's and Subadvisor's services to a Fund and the services they provide to other such comparable clients or funds. The Board concluded that the advisory fee paid with respect to each of the Funds is reasonable in light of the nature, extent and quality of the services provided to the Funds under the Advisory Agreement.

In addition, in the case of each Managed Volatility Portfolio (each a Fund of Funds), the Trustees reviewed the advisory fee to be paid to the Advisor for each Fund of Funds and noted that the Advisor has evaluated the complexity of the structure and fees and expenses associated with the Fund of Funds' investments in the underlying portfolios, and made a finding that the Funds of Funds' expenses do not duplicate the fees and expenses of the underlying portfolios.

*<u>Profitability/Fall out benefits</u>. In considering the costs of the services to be provided and the profits to be realized by the Advisor and its affiliates (including the Subadvisor) from the Advisor's relationship with the Trust, the Board:*

(a) reviewed financial information of the Advisor;

(b) reviewed and considered (i) information presented by the Advisor regarding the net profitability to the Advisor and its affiliates, of each Fund; and (ii) the representation by the John Hancock insurance companies in registration statements for registered variable insurance contracts using the Funds as investment options in registered separate accounts, that the fees and charges deducted under their variable insurance contracts (including the fees and expenses of the Trust), in the aggregate, are reasonable in relation to the services rendered, the expenses expected to be incurred and the risks assumed by such companies;

(c) received and reviewed profitability information with respect to the John Hancock fund complex as a whole and with respect to each Fund;

(d) received information with respect to the Advisor's allocation methodologies used in preparing the profitability data and considered that the Advisor hired an independent third-party consultant to provide an analysis of the Advisor's allocation methodologies;

(e) considered fall out benefits to the Advisor, including (but not limited to), benefits to affiliates, such as: (i) that the John Hancock insurance companies that are affiliates of the Advisor, as shareholders of the Trust directly or through their separate accounts, receive certain tax credits or deductions relating to foreign taxes paid and dividends received by certain Funds of the Trust and noted that these tax benefits, which are not available to contract holders under applicable income tax law, are reflected in the profitability analysis reviewed by the Board; and (ii) that the investment strategies employed by the JHVIT Managed Volatility Portfolios, which are intended to reduce portfolio volatility and the magnitude of portfolio losses, may benefit the John Hancock insurance companies by reducing the likelihood or extent to which an insurer would have to make payments out of its own resources to cover the guarantees under the variable annuity and/or insurance contracts;

(f) considered that the Advisor also provides administrative services to the Funds on a cost basis pursuant to an administrative services agreement;

(g) noted that the Funds' Subadvisor is an affiliate of the Advisor;

(h) noted that affiliates of the Advisor provide distribution services to the Funds, and that the Trust's distributor also receives Rule 12b-1 payments to support distribution of the products;

(i) noted that the Advisor also derives reputational and other indirect benefits from providing advisory services to the Funds;

(j) noted that the subadvisory fees for the Funds are paid by the Advisor;

(k) with respect to each Fund of Funds, the Board noted that the advisory fee is in addition to the fees received by the Advisor and its affiliates with regard to the underlying portfolios in which the Funds may invest;

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[**Table of Contents**](#JOB_JHVIT_a66a0ebf-d853-447a-bd5b-e614338e8513_TOC)

## John Hancock Variable Insurance Trust

#### Evaluation of Advisory and Subadvisory Agreements by the Board of Trustees

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(l) considered the Advisor's ongoing costs and expenditures necessary to improve services, meet new regulatory and compliance requirements, and adapt to other challenges impacting the fund industry; and

(m) considered that the Advisor should be entitled to earn a reasonable level of profits in exchange for the level of services it provides to each Fund and the risks that it assumes as Advisor, including entrepreneurial, operational, reputational, litigation and regulatory risk.

Based upon its review, the Board concluded that the level of profitability, if any, of the Advisor and its affiliates, from their relationship with each Fund was reasonable and not excessive.

*<u>Economies of scale.</u> In considering the extent to which economies of scale would be realized as a Fund grows and whether fee levels reflect these economies of scale for the benefit of Fund shareholders, the Board:*

(a) with respect to the John Hancock underlying portfolios in which the Fund invests (except those discussed specifically below), considered that the Advisor has agreed to waive a portion of its management fee for such Fund and for each of the other John Hancock funds in the complex (except as discussed below) (the Participating Portfolios) or otherwise reimburse the expenses of the Participating Portfolios (the Reimbursement). This waiver is based on the aggregate net assets of all the Participating Portfolios. The Board also noted that the Advisor had implemented additional breakpoints to the complex-wide fee waiver in recent years.

(The Funds that are not Participating Portfolios as of the date of this annual report are each Fund and each of the other funds of funds of the Trust and John Hancock Funds II and John Hancock Collateral Trust. These funds of funds also benefit from such overall management fee waiver through their investment in underlying portfolios that include certain of the Participating Portfolios, which are subject to the Reimbursement.)

(b) reviewed the Funds' advisory fee structure and concluded that: (i) the Funds' fee structure contains breakpoints at the subadvisory fee level and that such breakpoints are reflected as breakpoints in the advisory fees for the Funds; and (ii) although economies of scale cannot be measured with precision, these arrangements permit shareholders of the Funds to benefit from economies of scale if the Funds grow. The Board also took into account management's discussion of the Funds' advisory fee structure; and

(c) the Board also considered the effect of the Funds' growth in size on their performance and fees. The Board also noted that if the Funds' assets increase over time, the Funds may realize other economies of scale.

#### Approval of Subadvisory Agreement
In making its determination with respect to approval of the Subadvisory Agreement, the Board reviewed:

(1) information relating to the Subadvisor's business, including current subadvisory services to the Trust (and other funds in the John Hancock group of funds);

(2) the historical and current performance of each Fund and comparative performance information relating to the Fund's benchmark and comparable funds based on the median percentile; and

(3) the subadvisory fee for each Fund, including any breakpoints, and comparative fee information, where available, prepared by an independent third-party provider of fund data.

*<u>Nature, extent, and quality of services</u>. With respect to the services provided by the Subadvisor, the Board received information provided to the Board by the Subadvisor, including the Subadvisor's Form ADV, as well as took into account information presented throughout the past year. The Board considered the Subadvisor's current level of staffing and its overall resources, as well as received information relating to the Subadvisor's compensation program. The Board reviewed the Subadvisor's history and investment experience, as well as information regarding the qualifications, background and responsibilities of the*

Subadvisor's investment and compliance personnel who provide services to the Funds. The Board also considered, among other things, the Subadvisor's compliance program and any disciplinary history. The Board also considered the Subadvisor's risk assessment and monitoring process. The Board reviewed the Subadvisor's regulatory history, including whether it was currently involved in any regulatory actions or investigations as well as material litigation, and any settlements and amelioratory actions undertaken, as appropriate. The Board noted that the Advisor conducts regular, periodic reviews of the Subadvisor and its operations, including regarding investment processes and organizational and staffing matters. The Board also noted that the CCO and his staff conduct regular, periodic compliance reviews with the Subadvisor and present reports to the Independent Trustees regarding the same, which includes evaluating the regulatory compliance systems of the Subadvisors and procedures reasonably designed by them to assure compliance with the federal securities laws. The Board also took into account the financial condition of the Subadvisor.

The Board considered the Subadvisor's investment process and philosophy. The Board took into account that the Subadvisor's responsibilities include the development and maintenance of an investment program for the applicable Fund which is consistent with the Fund's investment objectives, the selection of investment securities and the placement of orders for the purchase and sale of such securities, as well as the implementation of compliance controls related to performance of these services. The Board also received information with respect to the Subadvisor's brokerage policies and practices, including with respect to best execution and soft dollars.

*<u>Subadvisor compensation</u>. In considering the cost of services to be provided by the Subadvisor and the profitability to that Subadvisor of its relationship with the Fund, the Board noted that the fees under the Subadvisory Agreements are paid by the Advisor and not the Funds. The Board also received information and took into account any other potential conflicts of interest the Advisor might have in connection with the Subadvisory Agreement.*

In addition, the Board considered other potential indirect benefits that the Subadvisor and its affiliates may receive from the Subadvisor's relationship with the Fund, such as the opportunity to provide advisory services to additional portfolios of the Trusts and reputational benefits.

*<u>Subadvisory fees</u>. The Board considered that the Fund pays an advisory fee to the Advisor and that, in turn, the Advisor pays a subadvisory fee to the Subadvisor. As noted above, the Board also considered, if available, each Fund's sub-advisory fees as compared to similarly situated investment companies deemed to be comparable to the Fund as included in the report prepared by the independent third party provider of fund data. The Board also took into account the sub-advisory fees paid by the Advisor to fees charged by the Fund's Subadvisor to manage other sub-advised portfolios and portfolios not subject to regulation under the 1940 Act, as applicable.*

*<u>Subadvisor performance</u>. As noted above, the Board considered each Fund's performance as compared to the Fund's respective peer group based on the median percentile and benchmark and noted that the Board reviews information about the Fund's performance results at its regularly scheduled meetings. The Board noted the Advisor's expertise and resources in monitoring the performance, investment style, and risk-adjusted performance of the Subadvisor. The Board was mindful of the Advisor's focus on the Subadvisor's performance. The Board also noted the Subadvisor's long-term performance record for similar accounts, as applicable.*

The Board's decision to approve the Subadvisory Agreement with respect to each Fund was based on a number of determinations, including the following:

(1) The Subadvisor has extensive experience and demonstrated skills as a manager;

------

[**Table of Contents**](#JOB_JHVIT_a66a0ebf-d853-447a-bd5b-e614338e8513_TOC)

## John Hancock Variable Insurance Trust

#### Evaluation of Advisory and Subadvisory Agreements by the Board of Trustees

------

(2) Although each Fund has underperformed the historical performance of comparable funds based on the median percentile, the Board considered the steps the Subadvisor had taken or plans to take to address
performance and concluded that performance is being monitored and reasonably being addressed;

(3) The subadvisory fees are reasonable in relation to the level and quality of services being provided under the Subadvisory Agreement; and

(4) The subadvisory fees are paid by the Advisor and not the Funds and that the subadvisory fee breakpoints are reflected as breakpoints in the advisory fees for the Funds in order to
permit shareholders to benefit from economies of scale if the Funds grow.

In addition, in the case of each Fund, the Trustees reviewed the subadvisory fee to be paid to the Subadvisor for the Fund and noted that the Advisor has evaluated the complexity of the structure and fees and expenses associated with the Funds' investments in the underlying portfolios, and made a finding that the Funds' expenses do not duplicate the fees and expenses of the underlying portfolios.

*Additional information relating to each Fund's fees and expenses and performance that the Board considered in approving the Advisory Agreement and Subadvisory Agreement for a particular Fund is set forth in Appendix A.*

\*\*\*

Based on their evaluation of all factors that they deemed to be material, including those factors described above, the Board, including the Independent Trustees, concluded that renewal of the Advisory Agreement and the Subadvisory Agreement with respect to each Fund would be in the best interest of each of the respective Funds and its shareholders. Accordingly, the Board, and the Independent Trustees voting separately, approved the Advisory Agreement and Subadvisory Agreement with respect to each Fund for an additional one-year period.

------

[**Table of Contents**](#JOB_JHVIT_a66a0ebf-d853-447a-bd5b-e614338e8513_TOC)

## John Hancock Variable Insurance Trust

#### Appendix A

------

---

| | | | |
|:---|:---|:---|:---|
| **Portfolio (Subadvisor)** | &nbsp;&nbsp;&nbsp;**Performance as of 12/31/2024** | &nbsp;&nbsp;&nbsp;**Fees and Expenses** | &nbsp;&nbsp;&nbsp;**Comments** |
| Managed Volatility Balanced Portfolio<br>(Manulife Investment Management (US) LLC) | &nbsp;&nbsp;Benchmark Index – The Trust underperformed the benchmark index for the one-, three-, five- and ten-year periods.<br>Broadridge Category – The Trust underperformed the peer group median for the one-, three-, five- and ten-year periods. | &nbsp;&nbsp;Subadvisor fee comparative data not provided due to limited size of Broadridge peer group for this purpose.<br>Net management fees for this Trust are lower than the peer group median.<br>Net total expenses for this Trust are lower than the peer group median. | &nbsp;&nbsp;The Board took into account management's discussion of the factors that contributed to the Trust's performance relative to the benchmark index and to the peer group median for the one-, three-, five- and ten-year periods, including the impact of past and current market conditions on the Trust's strategy and management's plans for the Trust.<br>The Board noted the Trust's net management fees and net total expenses are lower than the peer group median. |
| Managed Volatility Conservative Portfolio<br>(Manulife Investment Management (US) LLC) | &nbsp;&nbsp;Benchmark Index – The Trust underperformed the benchmark index for the one-, three-, five- and ten-year periods.<br>Broadridge Category – The Trust underperformed the peer group median for the one-, three-, five- and ten-year periods. | &nbsp;&nbsp;Subadvisor fee comparative data not provided due to limited size of Broadridge peer group for this purpose.<br>Net management fees for this Trust are lower than the peer group median.<br>Net total expenses for this Trust are lower than the peer group median. | &nbsp;&nbsp;The Board took into account management's discussion of the factors that contributed to the Trust's performance relative to the benchmark index and to the peer group median for the one-, three-, five- and ten-year periods, including the impact of past and current market conditions on the Trust's strategy and management's plans for the Trust.<br>The Board noted the Trust's net management fees and net total expenses are lower than the peer group median. |
| Managed Volatility Growth Portfolio<br>(Manulife Investment Management (US) LLC) | &nbsp;&nbsp;Benchmark Index – The Trust underperformed the benchmark index for the one-, three-, five- and ten-year periods.<br>Broadridge Category – The Trust underperformed the peer group median for the one-, three-, five- and ten-year periods. | &nbsp;&nbsp;Subadvisor fee comparative data not provided due to limited size of Broadridge peer group for this purpose.<br>Net management fees for this Trust are lower than the peer group median.<br>Net total expenses for this Trust are lower than the peer group median. | &nbsp;&nbsp;The Board took into account management's discussion of the factors that contributed to the Trust's performance relative to the benchmark index and to the peer group median for the one-, three-, five- and ten-year periods, including the impact of past and current market conditions on the Trust's strategy and management's plans for the Trust.<br>The Board noted the Trust's net management fees and net total expenses are lower than the peer group median. |

---

------

[**Table of Contents**](#JOB_JHVIT_a66a0ebf-d853-447a-bd5b-e614338e8513_TOC)

## John Hancock Variable Insurance Trust

#### Appendix A

------

---

| | | | |
|:---|:---|:---|:---|
| **Portfolio (Subadvisor)** | &nbsp;&nbsp;&nbsp;**Performance as of 12/31/2024** | &nbsp;&nbsp;&nbsp;**Fees and Expenses** | &nbsp;&nbsp;&nbsp;**Comments** |
| Managed Volatility Moderate Portfolio<br>(Manulife Investment Management (US) LLC) | &nbsp;&nbsp;Benchmark Index – The Trust underperformed the benchmark index for the one-, three-, five- and ten-year periods.<br>Broadridge Category – The Trust outperformed the peer group median for the one-year period and underperformed the peer group median for the three-, five- and ten-year periods. | &nbsp;&nbsp;Subadvisor fee comparative data not provided due to limited size of Broadridge peer group for this purpose.<br>Net management fees for this Trust are lower than the peer group median.<br>Net total expenses for this Trust are lower than the peer group median. | &nbsp;&nbsp;The Board took into account management's discussion of the Fund's performance relative to the benchmark index for the one-, three-, five- and ten-year periods and to the peer group median for the three-, five- and ten-year periods, including the impact of past and current market conditions on the Fund's strategy and management's outlook for the Fund.<br>The Board noted the Fund's favorable performance relative to the peer group median for the one-year period.<br>The Board noted the Trust's net management fees and net total expenses are lower than the peer group median. |

---

------

[**Table of Contents**](#JOB_JHVIT_a66a0ebf-d853-447a-bd5b-e614338e8513_TOC)

![](img82bff7b01.gif)

John Hancock Distributors, LLC, Member FINRA, SIPC200 Berkeley Street, Boston, MA 02116

John Hancock Variable Annuities: 800-344-1029

John Hancock Variable Life Insurance: 800-732-5543

johnhancock.com

JHTLSA 6/30

8/25

1115018:0625

------

![](img40df88c61.jpg)

**American Funds Insurance Series**<sup>®</sup>

Financial Statements and Other Information

N-CSR Items 7-11

for the six months ended June 30, 2025

Lit. No. INGEFP2-998-0825© 2025 Capital Group. All rights reserved.

------

Global Growth Fund

**Investment portfolio** June 30, 2025unaudited

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Common stocks 97.78% | Shares | Value<br> (000)<br>|
| **Information technology 28.43%** |  |  |
| Microsoft Corp.  | 1034832 | $514736 |
| Taiwan Semiconductor Manufacturing Co., Ltd.  | 14139200 | 513061 |
| NVIDIA Corp.  | 2403112 | 379668 |
| Broadcom, Inc.  | 948982 | 261587 |
| ASML Holding NV (ADR)  | 147394 | 118120 |
| ASML Holding NV  | 124200 | 99134 |
| Shopify, Inc., Class A, subordinate voting shares <sup>(a)</sup>  | 654749 | 75525 |
| NEC Corp.  | 2416000 | 70783 |
| SAP SE  | 225367 | 68531 |
| Cloudflare, Inc., Class A <sup>(a)</sup>  | 336935 | 65982 |
| Synopsys, Inc. <sup>(a)</sup>  | 114153 | 58524 |
| Samsung Electronics Co., Ltd.  | 1068680 | 47353 |
| Capgemini SE  | 255102 | 43587 |
| AppLovin Corp., Class A <sup>(a)</sup>  | 95469 | 33422 |
| EPAM Systems, Inc. <sup>(a)</sup>  | 187399 | 33136 |
| Adobe, Inc. <sup>(a)</sup>  | 45228 | 17498 |
| International Business Machines Corp.  | 48049 | 14164 |
| Keyence Corp.  | 30400 | 12210 |
| Ubiquiti, Inc.  | 20700 | 8521 |
| Xero, Ltd. <sup>(a)</sup>  | 61011 | 7220 |
|  |  | 2442762 |
| **Financials 16.20%** |  |  |
| 3i Group PLC  | 2750796 | 155566 |
| Visa, Inc., Class A  | 311603 | 110635 |
| Citigroup, Inc.  | 1104759 | 94037 |
| Aon PLC, Class A  | 244466 | 87216 |
| Fiserv, Inc. <sup>(a)</sup>  | 499162 | 86060 |
| Banco Bilbao Vizcaya Argentaria SA  | 5017421 | 77159 |
| Prudential PLC  | 5689457 | 71271 |
| Societe Generale  | 1237374 | 70765 |
| Brookfield Corp., Class A  | 1113070 | 68843 |
| AXA SA  | 1220825 | 59924 |
| Tradeweb Markets, Inc., Class A  | 332600 | 48693 |
| Swissquote Group Holding, Ltd.  | 80515 | 45603 |
| CVC Capital Partners PLC  | 1959718 | 40121 |
| Blackstone, Inc.  | 255000 | 38143 |
| Ameriprise Financial, Inc.  | 67606 | 36083 |
| Halyk Savings Bank of Kazakhstan OJSC (GDR)  | 1300992 | 31939 |
| Partners Group Holding AG  | 24055 | 31378 |
| Eurobank Ergasias Services and Holdings SA  | 8619374 | 29607 |
| CME Group, Inc., Class A  | 103473 | 28519 |
| XP, Inc., Class A  | 1360351 | 27479 |
| VZ Holding AG  | 122172 | 26730 |
| Japan Post Insurance Co., Ltd.  | 1156950 | 26199 |
| UniCredit SpA  | 359971 | 24131 |
| Aviva PLC  | 2408746 | 20473 |
| CaixaBank SA, non-registered shares  | 2148574 | 18612 |
| FinecoBank SpA  | 635542 | 14101 |
| Skandinaviska Enskilda Banken AB, Class A  | 608175 | 10613 |
| AIA Group, Ltd.  | 913107 | 8189 |
| Jackson Financial, Inc., Class A  | 44327 | 3936 |
|  |  | 1392025 |
| **Industrials 15.26%** |  |  |
| Safran SA  | 544489 | 176957 |
| Comfort Systems USA, Inc.  | 278016 | 149075 |
| TransDigm Group, Inc.  | 50071 | 76140 |
| Airbus SE, non-registered shares  | 364243 | 76055 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **1** | American Funds Insurance Series |

---

------

Global Growth Fund (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Industrials (continued)** |  |  |
| BAE Systems PLC  | 2424921 | $62793 |
| Ryanair Holdings PLC (ADR)  | 1069423 | 61674 |
| Copart, Inc. <sup>(a)</sup>  | 1011807 | 49649 |
| Howmet Aerospace, Inc.  | 262240 | 48811 |
| GT Capital Holdings, Inc.  | 4680871 | 47698 |
| Saab AB, Class B  | 797272 | 44461 |
| RELX PLC  | 721205 | 38975 |
| Crane Co.  | 204000 | 38738 |
| Siemens AG  | 150600 | 38611 |
| Honeywell International, Inc.  | 159884 | 37234 |
| Ingersoll-Rand, Inc.  | 433179 | 36032 |
| Boeing Co. (The) <sup>(a)</sup>  | 159644 | 33450 |
| Hitachi, Ltd.  | 1115800 | 32582 |
| Compagnie de Saint-Gobain SA, non-registered shares  | 270675 | 31769 |
| General Electric Co.  | 112142 | 28864 |
| Alliance Global Group, Inc.  | 156400700 | 25044 |
| ASSA ABLOY AB, Class B  | 777100 | 24247 |
| Schneider Electric SE  | 88500 | 23539 |
| Core & Main, Inc., Class A <sup>(a)</sup>  | 303180 | 18297 |
| Carrier Global Corp.  | 242000 | 17712 |
| ITOCHU Corp.  | 312960 | 16421 |
| Kongsberg Gruppen ASA  | 404170 | 15673 |
| DSV A/S  | 59397 | 14273 |
| RS Group PLC  | 1745907 | 13768 |
| ATI, Inc. <sup>(a)</sup>  | 152323 | 13152 |
| Recruit Holdings Co., Ltd.  | 167400 | 9922 |
| Daikin Industries, Ltd.  | 76900 | 9091 |
|  |  | 1310707 |
| **Consumer discretionary 14.61%** |  |  |
| Amazon.com, Inc. <sup>(a)</sup>  | 518956 | 113854 |
| Chipotle Mexican Grill, Inc. <sup>(a)</sup>  | 1878200 | 105461 |
| Prosus NV, Class N  | 1846586 | 103256 |
| MercadoLibre, Inc. <sup>(a)</sup>  | 39062 | 102094 |
| Booking Holdings, Inc.  | 15225 | 88141 |
| Renault SA  | 1688781 | 77841 |
| Compagnie Financiere Richemont SA, Class A  | 338392 | 63738 |
| Starbucks Corp.  | 616040 | 56448 |
| Trip.com Group, Ltd. (ADR)  | 932676 | 54692 |
| MGM China Holdings, Ltd.  | 28793200 | 47243 |
| Sanrio Co., Ltd.  | 950000 | 45968 |
| Entain PLC  | 3341847 | 41331 |
| InterContinental Hotels Group PLC  | 360000 | 41035 |
| LKQ Corp.  | 1041420 | 38543 |
| Flutter Entertainment PLC <sup>(a)</sup>  | 126797 | 36233 |
| LVMH Moet Hennessy-Louis Vuitton SE  | 64729 | 33900 |
| Moncler SpA  | 527245 | 30053 |
| Inchcape PLC  | 2991192 | 29808 |
| Ferrari NV (EUR denominated)  | 51774 | 25377 |
| Restaurant Brands International, Inc. (CAD denominated)  | 318949 | 21157 |
| Toll Brothers, Inc.  | 167692 | 19139 |
| Wynn Macau, Ltd.  | 21430000 | 14796 |
| YUM! Brands, Inc.  | 94493 | 14002 |
| Alibaba Group Holding, Ltd. (ADR)  | 98929 | 11219 |
| Industria de Diseno Textil SA  | 209813 | 10919 |
| Global-E Online, Ltd. <sup>(a)</sup>  | 300000 | 10062 |
| Tesla, Inc. <sup>(a)</sup>  | 29759 | 9453 |
| Hyundai Motor Co.  | 61211 | 9230 |
|  |  | 1254993 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

American Funds Insurance Series<sub>2</sub>

------

Global Growth Fund (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Health care 8.77%** |  |  |
| Eli Lilly and Co.  | 205754 | $160391 |
| Vertex Pharmaceuticals, Inc. <sup>(a)</sup>  | 247071 | 109996 |
| Novo Nordisk AS, Class B  | 984147 | 68306 |
| Sanofi  | 640801 | 62055 |
| Argenx SE (ADR) <sup>(a)</sup>  | 97099 | 53523 |
| Regeneron Pharmaceuticals, Inc.  | 83600 | 43890 |
| Cigna Group (The)  | 132736 | 43880 |
| Alnylam Pharmaceuticals, Inc. <sup>(a)</sup>  | 123340 | 40220 |
| Pfizer, Inc.  | 1418993 | 34396 |
| Centene Corp. <sup>(a)</sup>  | 580852 | 31529 |
| EssilorLuxottica SA  | 91606 | 25131 |
| UnitedHealth Group, Inc.  | 70900 | 22119 |
| Siemens Healthineers AG  | 345670 | 19162 |
| Bayer AG  | 537074 | 16154 |
| Thermo Fisher Scientific, Inc.  | 32200 | 13056 |
| Pro Medicus, Ltd.  | 48121 | 9029 |
| Viatris, Inc.  | 110678 | 988 |
| Euroapi SA <sup>(a)(b)</sup>  | 5869 | 20 |
|  |  | 753845 |
| **Communication services 6.37%** |  |  |
| Meta Platforms, Inc., Class A  | 242200 | 178765 |
| Alphabet, Inc., Class A  | 881162 | 155287 |
| Spotify Technology SA <sup>(a)</sup>  | 97672 | 74948 |
| Publicis Groupe SA  | 408300 | 46018 |
| Nintendo Co., Ltd.  | 376100 | 36251 |
| Bharti Airtel, Ltd.  | 868779 | 20358 |
| Tencent Holdings, Ltd.  | 297100 | 19037 |
| CTS Eventim AG & Co. KGaA  | 135001 | 16761 |
|  |  | 547425 |
| **Consumer staples 3.17%** |  |  |
| Dollar General Corp.  | 408173 | 46687 |
| British American Tobacco PLC  | 863200 | 41032 |
| Costco Wholesale Corp.  | 35210 | 34856 |
| Carrefour SA, non-registered shares  | 2201230 | 31037 |
| Philip Morris International, Inc.  | 167000 | 30416 |
| Monster Beverage Corp. <sup>(a)</sup>  | 440000 | 27562 |
| Nestle SA  | 261067 | 25937 |
| Pernod Ricard SA  | 192833 | 19217 |
| Loblaw Companies, Ltd.  | 93102 | 15400 |
|  |  | 272144 |
| **Energy 2.22%** |  |  |
| Canadian Natural Resources, Ltd. (CAD denominated)  | 1940000 | 60974 |
| TotalEnergies SE  | 679182 | 41682 |
| Tourmaline Oil Corp.  | 612792 | 29565 |
| NAC Kazatomprom JSC (GDR)  | 585731 | 25304 |
| Reliance Industries, Ltd.  | 1105000 | 19335 |
| Schlumberger NV  | 406169 | 13729 |
|  |  | 190589 |
| **Materials 2.13%** |  |  |
| Linde PLC  | 214708 | 100737 |
| Amcor PLC (CDI)  | 3567000 | 33336 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **3** | American Funds Insurance Series |

---

------

Global Growth Fund (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Materials (continued)** |  |  |
| First Quantum Minerals, Ltd. <sup>(a)</sup>  | 1128850 | $20053 |
| LyondellBasell Industries NV  | 250227 | 14478 |
| Lynas Rare Earths, Ltd. <sup>(a)</sup>  | 2549209 | 14445 |
|  |  | 183049 |
| **Utilities 0.52%** |  |  |
| Torrent Power, Ltd.  | 1918769 | 32836 |
| FirstEnergy Corp.  | 286296 | 11526 |
|  |  | 44362 |
| **Real estate 0.10%** |  |  |
| Mirvac Group REIT  | 5948947 | 8614 |
| **Total common stocks** (cost: $4,866,714,000) |  | 8400515 |
| Preferred securities 0.19% |  |  |
| **Information technology 0.19%** |  |  |
| Samsung Electronics Co., Ltd., nonvoting preferred shares  | 460450 | 16888 |
| **Total preferred securities** (cost: $12,816,000) |  | 16888 |
| Short-term securities 2.77% |  |  |
| **Money market investments 2.77%** | **Money market investments 2.77%** | **Money market investments 2.77%** |
| Capital Group Central Cash Fund 4.35% <sup>(c)(d)</sup>  | 2375659 | 237566 |
| **Total short-term securities** (cost: $237,553,000) |  | 237566 |
| **Total investment securities 100.74%** (cost: $5,117,083,000) |  | 8654969 |
| Other assets less liabilities (0.74)% |  | (63517)<br>|
| **Net assets 100.00%** |  | $8591452 |

---

**Investments in affiliates** <sup>(d)</sup>

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>1/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>6/30/2025 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Short-term securities 2.77%** |  |  |  |  |  |  |  |
| **Money market investments 2.77%** |  |  |  |  |  |  |  |
| Capital Group Central Cash Fund 4.35% <sup>(c)</sup>  | $283574 | &nbsp;&nbsp; $775998 | &nbsp;&nbsp; $821926 | &nbsp;&nbsp; $(41)<br>| &nbsp;&nbsp; $(39)<br>| &nbsp;&nbsp; $237566 | &nbsp;&nbsp; $5913 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Security did not produce income during the last 12 months.

<sup>(b)</sup> All or a portion of this security was on loan. The total value of all such securities was $11,000, which represented less than 0.01% of the net assets of the fund. Refer to Note 5 for more information on securities lending. 

<sup>(c)</sup> Rate represents the seven-day yield at 6/30/2025.

<sup>(d)</sup> Part of the same "group of investment companies" as the fund as defined under the Investment Company Act of 1940, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **Key to abbreviation(s)** |
| ADR = American Depositary Receipts |
| CAD = Canadian dollars |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> CDI = CREST Depository Interest <br> EUR = Euros

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> GDR = Global Depositary Receipts <br> REIT = Real Estate Investment Trust

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

American Funds Insurance Series<sub>4</sub>

------

Global Small Capitalization Fund

**Investment portfolio** June 30, 2025unaudited

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Common stocks 94.90% | Shares | Value<br> (000)<br>|
| **Industrials 22.49%** |  |  |
| Cleanaway Waste Management, Ltd.  | 16692698 | $29883 |
| International Container Terminal Services, Inc.  | 3892880 | 28404 |
| Takasago Thermal Engineering Co., Ltd.  | 550274 | 27081 |
| UL Solutions, Inc., Class A  | 357358 | 26037 |
| CBIZ, Inc. <sup>(a)</sup>  | 360344 | 25840 |
| ATI, Inc. <sup>(a)</sup>  | 273691 | 23630 |
| Diploma PLC  | 348043 | 23352 |
| Trelleborg AB, Class B  | 614656 | 22875 |
| Qantas Airways, Ltd.  | 3113684 | 22009 |
| Adecco Group AG  | 726245 | 21583 |
| Nexans SA  | 165102 | 21568 |
| VSE Corp.  | 161862 | 21201 |
| Comfort Systems USA, Inc.  | 31592 | 16940 |
| Inox Wind, Ltd. <sup>(a)</sup>  | 8025554 | 16409 |
| Carel Industries SpA  | 596421 | 15878 |
| Rumo SA  | 4466646 | 15234 |
| LS Electric Co., Ltd.  | 68327 | 15138 |
| Casella Waste Systems, Inc., Class A <sup>(a)</sup>  | 128613 | 14839 |
| Sinfonia Technology Co., Ltd.  | 218586 | 14815 |
| Air Lease Corp., Class A  | 250000 | 14622 |
| REV Group, Inc.  | 291763 | 13885 |
| Hensoldt AG  | 117338 | 13462 |
| RENK Group AG  | 157353 | 12578 |
| Kandenko Co., Ltd.  | 530900 | 12288 |
| Godrej Industries, Ltd. <sup>(a)</sup>  | 802102 | 11655 |
| ICF International, Inc.  | 120109 | 10174 |
| Alaska Air Group, Inc. <sup>(a)</sup>  | 200000 | 9896 |
| Howden Joinery Group PLC  | 831191 | 9766 |
| IMCD NV  | 71833 | 9650 |
| First Advantage Corp. <sup>(a)</sup>  | 578142 | 9603 |
| Applied Industrial Technologies, Inc.  | 39533 | 9189 |
| dormakaba Holding AG  | 9722 | 8883 |
| Addtech AB, Class B  | 245222 | 8346 |
| Visional, Inc. <sup>(a)</sup>  | 105238 | 8119 |
| XPO, Inc. <sup>(a)</sup>  | 63304 | 7995 |
| Engcon AB, Class B  | 770224 | 7343 |
| Reliance Worldwide Corp., Ltd.  | 2633607 | 7107 |
| Tetra Tech, Inc.  | 197183 | 7091 |
| Beijer Ref AB, Class B  | 445805 | 7037 |
| Bombardier, Inc., Class B <sup>(a)</sup>  | 75000 | 6534 |
| Localiza Rent a Car SA, ordinary nominative shares  | 855885 | 6383 |
| SPIE SA  | 111728 | 6278 |
| Georg Fischer AG  | 69127 | 5650 |
| CSW Industrials, Inc.  | 19652 | 5637 |
| Trex Co., Inc. <sup>(a)</sup>  | 102977 | 5600 |
| Byrna Technologies, Inc. <sup>(a)</sup>  | 166228 | 5133 |
| Kurita Water Industries, Ltd.  | 125000 | 4946 |
| SATS, Ltd.  | 2022100 | 4835 |
| Matson, Inc.  | 41560 | 4628 |
| AZEK Co., Inc. (The), Class A <sup>(a)</sup>  | 81825 | 4447 |
| WESCO International, Inc.  | 20529 | 3802 |
| IndiaMart InterMesh, Ltd.  | 122889 | 3723 |
| KEI Industries, Ltd.  | 84089 | 3719 |
| Wizz Air Holdings PLC <sup>(a)(b)</sup>  | 221203 | 3310 |
| Sterling Infrastructure, Inc. <sup>(a)</sup>  | 13897 | 3206 |
| Voyager Technologies, Inc., Class A <sup>(a)(b)</sup>  | 61500 | 2414 |
| Herc Holdings, Inc.  | 15514 | 2043 |
| Delhivery, Ltd. <sup>(a)</sup>  | 433780 | 1936 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **5** | American Funds Insurance Series |

---

------

Global Small Capitalization Fund (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Industrials (continued)** |  |  |
| Mueller Industries, Inc.  | 23732 | $1886 |
| THK Co., Ltd.  | 64800 | 1736 |
| McGrath RentCorp  | 4336 | 503 |
|  |  | 689754 |
| **Financials 15.43%** |  |  |
| Cholamandalam Investment and Finance Co., Ltd.  | 1955819 | 37128 |
| Eurobank Ergasias Services and Holdings SA  | 9230606 | 31706 |
| Glacier Bancorp, Inc.  | 675237 | 29089 |
| HDFC Asset Management Co., Ltd.  | 480000 | 29059 |
| Vontobel Holding AG  | 354868 | 28669 |
| Stifel Financial Corp.  | 269807 | 28001 |
| SLM Corp.  | 824188 | 27025 |
| Max Financial Services, Ltd. <sup>(a)</sup>  | 982332 | 18867 |
| Baldwin Insurance Group, Inc. (The), Class A <sup>(a)</sup>  | 436452 | 18684 |
| IIFL Finance, Ltd. <sup>(a)</sup>  | 3028075 | 16692 |
| Janus Henderson Group PLC  | 422023 | 16391 |
| SiriusPoint, Ltd. <sup>(a)</sup>  | 700000 | 14273 |
| Lazard, Inc., Class A  | 297467 | 14272 |
| Porto Seguro SA  | 1400932 | 14233 |
| Home BancShares, Inc.  | 495420 | 14100 |
| Pluxee NV  | 642301 | 13989 |
| Asia Commercial Joint Stock Bank  | 13830250 | 11278 |
| Banco del Bajio, SA  | 4062979 | 9819 |
| SouthState Corp.  | 102954 | 9475 |
| Essent Group, Ltd.  | 150000 | 9109 |
| First American Financial Corp.  | 143871 | 8832 |
| Patria Investments, Ltd., Class A  | 537189 | 7553 |
| 360 ONE WAM, Ltd.  | 469058 | 6533 |
| EFG International AG  | 334117 | 6190 |
| Discovery, Ltd.  | 483482 | 5866 |
| Sprott, Inc.  | 82833 | 5726 |
| CVB Financial Corp.  | 288772 | 5715 |
| Bridgepoint Group PLC  | 1232030 | 5256 |
| Kyoto Financial Group, Inc.  | 263300 | 4721 |
| PJT Partners, Inc., Class A  | 28318 | 4673 |
| Root, Inc., Class A <sup>(a)</sup>  | 35560 | 4551 |
| JB Financial Group Co., Ltd.  | 294756 | 4488 |
| Haci Omer Sabanci Holding AS  | 1751573 | 3944 |
| FirstCash Holdings, Inc.  | 25763 | 3482 |
| Capitec Bank Holdings, Ltd.  | 11138 | 2234 |
| BNK Financial Group, Inc.  | 173416 | 1600 |
|  |  | 473223 |
| **Information technology 13.18%** |  |  |
| Allegro MicroSystems, Inc. <sup>(a)</sup>  | 1164843 | 39826 |
| PAR Technology Corp. <sup>(a)(c)</sup>  | 325484 | 22579 |
| PAR Technology Corp. <sup>(a)</sup>  | 155085 | 10758 |
| MACOM Technology Solutions Holdings, Inc. <sup>(a)</sup>  | 225450 | 32305 |
| King Slide Works Co., Ltd.  | 361784 | 25203 |
| Silicon Laboratories, Inc. <sup>(a)</sup>  | 161697 | 23828 |
| Pegasystems, Inc.  | 359598 | 19465 |
| Kokusai Electric Corp.  | 802379 | 19318 |
| Q2 Holdings, Inc. <sup>(a)</sup>  | 198415 | 18570 |
| Credo Technology Group Holding, Ltd. <sup>(a)</sup>  | 194072 | 17969 |
| Semtech Corp. <sup>(a)</sup>  | 356911 | 16111 |
| eMemory Technology, Inc.  | 168430 | 13607 |
| Lumentum Holdings, Inc. <sup>(a)</sup>  | 137966 | 13115 |
| Insight Enterprises, Inc. <sup>(a)</sup>  | 84243 | 11633 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

American Funds Insurance Series<sub>6</sub>

------

Global Small Capitalization Fund (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Information technology (continued)** |  |  |
| Riken Keiki Co., Ltd.  | 543100 | $11408 |
| Klaviyo, Inc., Class A <sup>(a)</sup>  | 328169 | 11020 |
| Maruwa Co., Ltd.  | 38254 | 10982 |
| Alphawave IP Group PLC <sup>(a)</sup>  | 3569476 | 8535 |
| Tokyo Seimitsu Co., Ltd.  | 124023 | 8279 |
| Ncino, Inc. <sup>(a)</sup>  | 269841 | 7547 |
| Fabrinet, non-registered shares <sup>(a)</sup>  | 25161 | 7414 |
| Unity Software, Inc. <sup>(a)</sup>  | 302073 | 7310 |
| Lattice Semiconductor Corp. <sup>(a)</sup>  | 139780 | 6848 |
| Topicus.com, Inc., subordinate voting shares <sup>(a)</sup>  | 51481 | 6450 |
| Confluent, Inc., Class A <sup>(a)</sup>  | 235033 | 5859 |
| MKS, Inc.  | 56170 | 5581 |
| Softcat PLC  | 211275 | 4979 |
| HPSP Co., Ltd.  | 182260 | 3748 |
| Cellebrite DI, Ltd. <sup>(a)</sup>  | 194979 | 3120 |
| Hexaware Technologies, Ltd.  | 265045 | 2629 |
| Blockchain Group (The) <sup>(a)(b)</sup>  | 490674 | 2491 |
| ASMPT, Ltd.  | 316400 | 2320 |
| MongoDB, Inc., Class A <sup>(a)</sup>  | 10484 | 2201 |
| Silvaco Group, Inc. <sup>(a)(b)</sup>  | 163728 | 773 |
| Yotpo, Ltd. <sup>(a)(c)(d)</sup>  | 678736 | 428 |
|  |  | 404209 |
| **Consumer discretionary 12.48%** |  |  |
| Entain PLC  | 3136472 | 38791 |
| DraftKings, Inc., Class A <sup>(a)</sup>  | 657778 | 28212 |
| Thor Industries, Inc.  | 281786 | 25025 |
| Sega Sammy Holdings, Inc.  | 918700 | 22042 |
| Genius Sports, Ltd. <sup>(a)</sup>  | 1640078 | 17057 |
| TopBuild Corp. <sup>(a)</sup>  | 52196 | 16898 |
| Light & Wonder, Inc. <sup>(a)</sup>  | 97580 | 9393 |
| Light & Wonder, Inc. Chess Depository Receipt <sup>(a)</sup>  | 75431 | 7319 |
| Inchcape PLC  | 1658830 | 16531 |
| Food & Life Cos., Ltd.  | 315200 | 15354 |
| Wyndham Hotels & Resorts, Inc.  | 180987 | 14698 |
| CAVA Group, Inc. <sup>(a)</sup>  | 172411 | 14522 |
| Guzman y Gomez, Ltd. <sup>(a)</sup>  | 626907 | 11672 |
| Champion Homes, Inc. <sup>(a)</sup>  | 181982 | 11394 |
| Acushnet Holdings Corp.  | 150000 | 10923 |
| Ollie's Bargain Outlet Holdings, Inc. <sup>(a)</sup>  | 78598 | 10358 |
| Grand Canyon Education, Inc. <sup>(a)</sup>  | 50511 | 9547 |
| Boot Barn Holdings, Inc. <sup>(a)</sup>  | 60630 | 9216 |
| Lottomatica Group SpA  | 324745 | 9012 |
| Sanrio Co., Ltd.  | 150500 | 7282 |
| Patrick Industries, Inc.  | 73088 | 6744 |
| tonies SE, Class A <sup>(a)</sup>  | 960519 | 6743 |
| MRF, Ltd.  | 4006 | 6650 |
| Steven Madden, Ltd.  | 270679 | 6491 |
| Camping World Holdings, Inc., Class A  | 363746 | 6253 |
| Aditya Vision, Ltd.  | 1409045 | 6129 |
| Yonex Co., Ltd.  | 300000 | 6041 |
| Tube Investments of India, Ltd.  | 166232 | 6026 |
| Five Below, Inc. <sup>(a)</sup>  | 41947 | 5503 |
| Cairn Homes PLC (EUR denominated)  | 2026044 | 5119 |
| Zalando SE, non-registered shares <sup>(a)</sup>  | 142442 | 4690 |
| Smartfit Escola de Ginastica e Danca SA  | 980320 | 4482 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **7** | American Funds Insurance Series |

---

------

Global Small Capitalization Fund (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Consumer discretionary (continued)** |  |  |
| Shoei Co., Ltd.  | 320200 | $3869 |
| Victoria's Secret & Co. <sup>(a)</sup>  | 137388 | 2544 |
| EIH, Ltd.  | 29163 | 126 |
|  |  | 382656 |
| **Health care 11.54%** |  |  |
| Insulet Corp. <sup>(a)</sup>  | 138345 | 43465 |
| Masimo Corp. <sup>(a)</sup>  | 176106 | 29625 |
| DiaSorin Italia SpA  | 218636 | 23400 |
| Ensign Group, Inc. (The)  | 131436 | 20275 |
| Max Healthcare Institute, Ltd.  | 1220256 | 18156 |
| Carl Zeiss Meditec AG, non-registered shares <sup>(b)</sup>  | 236775 | 15898 |
| Vimian Group AB (publ) <sup>(a)(b)</sup>  | 3741179 | 15818 |
| IDEAYA Biosciences, Inc. <sup>(a)</sup>  | 683100 | 14359 |
| Glenmark Pharmaceuticals, Ltd.  | 653989 | 13374 |
| Ambu AS, Class B, non-registered shares  | 799520 | 12547 |
| Addus HomeCare Corp. <sup>(a)</sup>  | 105462 | 12148 |
| BridgeBio Pharma, Inc. <sup>(a)</sup>  | 266511 | 11508 |
| Asker Healthcare Group AB <sup>(a)</sup>  | 964065 | 11107 |
| CONMED Corp.  | 189210 | 9854 |
| Encompass Health Corp.  | 78343 | 9607 |
| Haemonetics Corp. <sup>(a)</sup>  | 124768 | 9309 |
| iRhythm Technologies, Inc. <sup>(a)</sup>  | 49337 | 7596 |
| Aster DM Healthcare, Ltd.  | 1089547 | 7573 |
| Kymera Therapeutics, Inc. <sup>(a)</sup>  | 149795 | 6537 |
| Indegene, Ltd.  | 965116 | 6467 |
| Denali Therapeutics, Inc. <sup>(a)</sup>  | 454147 | 6354 |
| Integer Holdings Corp. <sup>(a)</sup>  | 50070 | 6157 |
| Bio-Techne Corp.  | 117228 | 6031 |
| Vaxcyte, Inc. <sup>(a)</sup>  | 180439 | 5866 |
| Dr. Lal PathLabs, Ltd.  | 151312 | 4934 |
| AddLife AB, Class B  | 241770 | 4822 |
| Vericel Corp. <sup>(a)</sup>  | 97455 | 4147 |
| Establishment Labs Holdings, Inc. <sup>(a)(b)</sup>  | 92322 | 3943 |
| Enliven Therapeutics, Inc. <sup>(a)(b)</sup>  | 149388 | 2997 |
| Prestige Consumer Healthcare, Inc. <sup>(a)</sup>  | 32983 | 2634 |
| Angelalign Technology, Inc.  | 318348 | 2293 |
| Zealand Pharma AS <sup>(a)(b)</sup>  | 39000 | 2184 |
| Bachem Holding AG <sup>(b)</sup>  | 24766 | 1810 |
| Biohaven, Ltd. <sup>(a)</sup>  | 62303 | 879 |
|  |  | 353674 |
| **Materials 5.92%** |  |  |
| Materion Corp.  | 255673 | 20293 |
| Knife River Corp. <sup>(a)</sup>  | 242566 | 19803 |
| Resonac Holdings Co., Ltd.  | 827000 | 19233 |
| Sumitomo Bakelite Co., Ltd.  | 639359 | 18510 |
| Celanese Corp.  | 294262 | 16281 |
| Lundin Gold, Inc.  | 300000 | 15840 |
| Lundin Mining Corp.  | 1000000 | 10516 |
| Huhtamaki OYJ  | 276021 | 9845 |
| Dyno Nobel, Ltd.  | 5276174 | 9341 |
| LANXESS AG  | 241395 | 7183 |
| Acerinox, SA  | 507145 | 6464 |
| Osaka Soda Co., Ltd.  | 384900 | 4803 |
| Verallia SAS  | 140206 | 4657 |
| Cabot Corp.  | 48229 | 3617 |
| Arkema SA  | 43503 | 3205 |
| Vicat SACA  | 40492 | 2805 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

American Funds Insurance Series<sub>8</sub>

------

Global Small Capitalization Fund (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Materials (continued)** |  |  |
| Umicore SA  | 181924 | $2674 |
| ASP Isotopes, Inc. <sup>(a)(b)</sup>  | 344175 | 2533 |
| NV Bekaert SA  | 53808 | 2222 |
| Mayr-Melnhof Karton AG, non-registered shares  | 17249 | 1552 |
|  |  | 181377 |
| **Communication services 4.39%** |  |  |
| Magnite, Inc. <sup>(a)</sup>  | 1533111 | 36979 |
| Nippon Television Holdings, Inc.  | 1086100 | 25236 |
| Indosat Tbk PT  | 135085677 | 17390 |
| Springer Nature AG & Co. KGaA, non-registered shares  | 609415 | 13395 |
| Rightmove PLC  | 1209594 | 13094 |
| New York Times Co., Class A  | 175000 | 9796 |
| Lionsgate Studios Corp. <sup>(a)</sup>  | 1051920 | 6112 |
| Future PLC  | 515448 | 5158 |
| JCDecaux SE  | 183003 | 3341 |
| Starz Entertainment Corp. <sup>(a)</sup>  | 151869 | 2441 |
| Bharti Hexacom, Ltd.  | 68127 | 1551 |
|  |  | 134493 |
| **Real estate 2.58%** |  |  |
| Embassy Office Parks REIT  | 5208572 | 23656 |
| Charter Hall Group REIT  | 1663583 | 21011 |
| Lodha Developers, Ltd.  | 442564 | 7143 |
| UMH Properties, Inc. REIT  | 410600 | 6894 |
| St. Joe Co.  | 124878 | 5956 |
| Mindspace Business Parks REIT  | 1250000 | 5831 |
| Corp. Inmobiliaria Vesta, SAB de CV <sup>(b)</sup>  | 1900000 | 5222 |
| Altus Group, Ltd.  | 89910 | 3479 |
|  |  | 79192 |
| **Consumer staples 2.50%** |  |  |
| Raia Drogasil SA, ordinary nominative shares  | 7178745 | 19978 |
| Universal Robina Corp.  | 11735715 | 18657 |
| BBB Foods, Inc., Class A <sup>(a)</sup>  | 669472 | 18585 |
| Lamb Weston Holdings, Inc.  | 170000 | 8814 |
| Apotea Sverige AB <sup>(a)</sup>  | 845173 | 7879 |
| e.l.f. Beauty, Inc. <sup>(a)</sup>  | 22848 | 2843 |
|  |  | 76756 |
| **Energy 2.48%** |  |  |
| Weatherford International  | 512177 | 25768 |
| NuVista Energy, Ltd. <sup>(a)</sup>  | 1249839 | 13749 |
| CNX Resources Corp. <sup>(a)</sup>  | 350000 | 11788 |
| Vista Energy, SAB de CV, Class A (ADR) <sup>(a)</sup>  | 202376 | 9676 |
| Aegis Logistics Ltd.  | 790464 | 7151 |
| Aegis Vopak Terminals, Ltd. <sup>(a)</sup>  | 711249 | 2035 |
| Aegis Vopak Terminals, Ltd. <sup>(a)(e)</sup>  | 241762 | 692 |
| NexGen Energy, Ltd. <sup>(a)</sup>  | 380341 | 2639 |
| Denison Mines Corp. <sup>(a)</sup>  | 1375744 | 2515 |
|  |  | 76013 |
| **Utilities 1.91%** |  |  |
| Neoenergia SA  | 4000086 | 18819 |
| Black Hills Corp.  | 197486 | 11079 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **9** | American Funds Insurance Series |

---

------

Global Small Capitalization Fund (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Utilities (continued)** |  |  |
| Talen Energy Corp. <sup>(a)</sup>  | 36428 | $10592 |
| SembCorp Industries, Ltd.  | 1536800 | 8279 |
| Nippon Gas Co., Ltd.  | 411600 | 7577 |
| ACEN Corp.  | 50415592 | 2318 |
|  |  | 58664 |
| **Total common stocks** (cost: $2,104,018,000) |  | 2910011 |
| Preferred securities 0.77% |  |  |
| **Information technology 0.47%** |  |  |
| SmartHR, Inc., Series D, preferred shares <sup>(a)(c)(d)</sup>  | 3006 | 11470 |
| Yotpo, Ltd., Series F, preferred shares <sup>(a)(c)(d)</sup>  | 2158609 | 1360 |
| Yotpo, Ltd., Series B, preferred shares <sup>(a)(c)(d)</sup>  | 287894 | 181 |
| Yotpo, Ltd., Series C, preferred shares <sup>(a)(c)(d)</sup>  | 274070 | 173 |
| Yotpo, Ltd., Series A-1, preferred shares <sup>(a)(c)(d)</sup>  | 183819 | 116 |
| Yotpo, Ltd., Series A, preferred shares <sup>(a)(c)(d)</sup>  | 89605 | 56 |
| Yotpo, Ltd., Series C-1, preferred shares <sup>(a)(c)(d)</sup>  | 75980 | 48 |
| Yotpo, Ltd., Series D, preferred shares <sup>(a)(c)(d)</sup>  | 42368 | 27 |
| Yotpo, Ltd., Series B-1, preferred shares <sup>(a)(c)(d)</sup>  | 33838 | 21 |
| Outreach Corp., Series G, preferred shares <sup>(a)(c)(d)</sup>  | 154354 | 1070 |
|  |  | 14522 |
| **Financials 0.30%** |  |  |
| Federal Home Loan Mortgage Corp., Series Z, 8.375% noncumulative preferred shares <sup>(a)(b)</sup>  | 641250 | 9138 |
| **Total preferred securities** (cost: $28,669,000) |  | 23660 |
| Convertible stocks 0.43% |  |  |
| **Materials 0.43%** |  |  |
| Albemarle Corp., Class A, cumulative convertible preferred depositary shares, 7.25% 3/1/2027  | 406409 | 13046 |
| **Total convertible stocks** (cost: $12,428,000) |  | 13046 |
| Convertible bonds & notes 0.13% | Principal amount<br> (000)<br>|  |
| **Information technology 0.13%** |  |  |
| Alphawave IP Group PLC, convertible notes, 3.75% 3/1/2030  | USD600 | 908 |
| Wolfspeed, Inc., convertible notes, 0.25% 2/15/2028  | 3235 | 833 |
| Wolfspeed, Inc., convertible notes, 1.875% 12/1/2029  | 8923 | 2298 |
| **Total convertible bonds & notes** (cost: $4,448,000) |  | 4039 |
| Short-term securities 5.28% | Shares |  |
| **Money market investments 4.64%** | **Money market investments 4.64%** | **Money market investments 4.64%** |
| Capital Group Central Cash Fund 4.35% <sup>(f)(g)</sup>  | 1423124 | 142312 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

American Funds Insurance Series<sub>10</sub>

------

Global Small Capitalization Fund (continued)

---

| | | |
|:---|:---|:---|
| Short-term securities (continued) | Shares | Value<br> (000)<br>|
| **Money market investments purchased with collateral from securities on loan 0.64%** | **Money market investments purchased with collateral from securities on loan 0.64%** | **Money market investments purchased with collateral from securities on loan 0.64%** |
| Capital Group Central Cash Fund 4.35% <sup>(f)(g)(h)</sup>  | 138096 | $13810 |
| Invesco Short-Term Investments Trust – Government & Agency Portfolio, Institutional Class 4.26% <sup>(f)(h)</sup>  | 5832209 | 5832 |
|  |  | 19642 |
| **Total short-term securities** (cost: $161,942,000) |  | 161954 |
| **Total investment securities 101.51%** (cost: $2,311,505,000) |  | 3112710 |
| Other assets less liabilities (1.51)% |  | (46233)<br>|
| **Net assets 100.00%** |  | $3066477 |

---

**Investments in affiliates** <sup>(g)</sup>

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>1/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>6/30/2025 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Common stocks 0.00%** |  |  |  |  |  |  |  |
| **Consumer discretionary 0.00%** |  |  |  |  |  |  |  |
| Lands' End, Inc. <sup>(a)(i)</sup>  | $27594 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $16981 | &nbsp;&nbsp; $2176 | &nbsp;&nbsp; $(12789)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— |
| **Short-term securities 5.09%** |  |  |  |  |  |  |  |
| **Money market investments 4.64%** |  |  |  |  |  |  |  |
| Capital Group Central Cash Fund 4.35% <sup>(f)</sup>  | 16001 | &nbsp;&nbsp; 418610 | &nbsp;&nbsp; 292289 | &nbsp;&nbsp; (20)<br>| &nbsp;&nbsp; 10 | &nbsp;&nbsp; 142312 | &nbsp;&nbsp; 2399 |
| **Money market investments purchased with collateral** <br>**from securities on loan 0.45%**<br>|  |  |  |  |  |  |  |
| Capital Group Central Cash Fund 4.35% <sup>(f)(h)</sup>  | 19927 |  | &nbsp;&nbsp; 6117 <br><sup>(j)</sup><br>|  |  | &nbsp;&nbsp; 13810 | &nbsp;&nbsp; — <br><sup>(k)</sup><br>|
| **Total short-term securities** |  |  |  |  |  | &nbsp;&nbsp; 156122 |  |
| **Total 5.09%** |  |  |  | &nbsp;&nbsp; $2156 | &nbsp;&nbsp; $(12779)<br>| &nbsp;&nbsp; $156122 | &nbsp;&nbsp; $2399 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **11** | American Funds Insurance Series |

---

------

Global Small Capitalization Fund (continued)

**Restricted securities** <sup>(c)</sup>

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Acquisition <br>date(s)<br>| Cost <br>(000)<br>| Value <br>(000)<br>| Percent <br>of net <br>assets<br>|
| PAR Technology Corp. <sup>(a)</sup> <br>| 3/8/2024 | $12580 | $22579 | 0.74<br> %<br>|
| SmartHR, Inc., Series D, preferred shares <sup>(a)(d)</sup> <br>| 5/28/2021 | 14344 | 11470 | 0.37 |
| Yotpo, Ltd., Series F, preferred shares <sup>(a)(d)</sup> <br>| 2/25/2021  | 4748 | 1360 | 0.05 |
| Yotpo, Ltd. <sup>(a)(d)</sup> <br>| 3/16/2021  | 1418 | 428 | 0.01 |
| Yotpo, Ltd., Series B, preferred shares <sup>(a)(d)</sup> <br>| 3/16/2021  | 602 | 181 | 0.01 |
| Yotpo, Ltd., Series C, preferred shares <sup>(a)(d)</sup> <br>| 3/16/2021  | 573 | 173 | 0.01 |
| Yotpo, Ltd., Series A-1, preferred shares <sup>(a)(d)</sup> <br>| 3/16/2021  | 384 | 116 | 0.00 <br><sup>(l)</sup><br>|
| Yotpo, Ltd., Series A, preferred shares <sup>(a)(d)</sup> <br>| 3/16/2021  | 187 | 56 | 0.00 <br><sup>(l)</sup><br>|
| Yotpo, Ltd., Series C-1, preferred shares <sup>(a)(d)</sup> <br>| 3/16/2021 | 159 | 48 | 0.00 <br><sup>(l)</sup><br>|
| Yotpo, Ltd., Series D, preferred shares <sup>(a)(d)</sup> <br>| 3/16/2021 | 88 | 27 | 0.00 <br><sup>(l)</sup><br>|
| Yotpo, Ltd., Series B-1, preferred shares <sup>(a)(d)</sup> <br>| 3/16/2021  | 71 | 21 | 0.00 <br><sup>(l)</sup><br>|
| Outreach Corp., Series G, preferred shares <sup>(a)(d)</sup> <br>| 5/27/2021 | 4517 | 1070 | 0.03 |
| **Total** |  | $39671 | $37529 | 1.22<br> %<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Security did not produce income during the last 12 months.

<sup>(b)</sup> All or a portion of this security was on loan. The total value of all such securities was $21,033,000, which represented 0.69% of the net assets of the fund. Refer to Note 5 for more information on securities lending. 

<sup>(c)</sup> Restricted security, other than Rule 144A securities or commercial paper issued pursuant to Section 4(a)(2) of the Securities Act of 1933. The total value of all such restricted securities was $37,529,000, which represented 1.22% of the net assets of the fund. 

<sup>(d)</sup> Value determined using significant unobservable inputs.

<sup>(e)</sup> Security is subject to a contractual sale restriction (lockup). The total value of all such securities was $692,000, which represented 0.02% of the net assets of the fund. The remaining lockup period is generally less than one year; and early lockup release provisions may be applicable based on certain set milestones or condition in accordance with legal documents. 

<sup>(f)</sup> Rate represents the seven-day yield at 6/30/2025.

<sup>(g)</sup> Affiliate of the fund or part of the same "group of investment companies" as the fund, as defined under the Investment Company Act of 1940, as amended.

<sup>(h)</sup> Security purchased with cash collateral from securities on loan. Refer to Note 5 for more information on securities lending.

<sup>(i)</sup> Affiliated issuer during the reporting period but no longer held at 6/30/2025.

<sup>(j)</sup> Represents net activity. Refer to Note 5 for more information on securities lending.

<sup>(k)</sup> Dividend income is included with securities lending income in the fund's statement of operations and is not shown in this table.

<sup>(l)</sup> Amount less than 0.01%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **Key to abbreviation(s)** |
| ADR = American Depositary Receipts |
| EUR = Euros |
| REIT = Real Estate Investment Trust |
| USD = U.S. dollars |

---

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

American Funds Insurance Series<sub>12</sub>

------

Growth Fund

**Investment portfolio** June 30, 2025unaudited

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Common stocks 97.18% | Shares | Value<br> (000)<br>|
| **Information technology 27.11%** |  |  |
| NVIDIA Corp.  | 16406398 | $2592047 |
| Microsoft Corp.  | 4808489 | 2391790 |
| Broadcom, Inc.  | 7732511 | 2131467 |
| Cloudflare, Inc., Class A <sup>(a)</sup>  | 4644781 | 909587 |
| Shopify, Inc., Class A, subordinate voting shares <sup>(a)</sup>  | 7554237 | 871381 |
| MicroStrategy, Inc., Class A <sup>(a)</sup>  | 1507861 | 609523 |
| Micron Technology, Inc.  | 4702712 | 579609 |
| Taiwan Semiconductor Manufacturing Co., Ltd.  | 10759000 | 390406 |
| Taiwan Semiconductor Manufacturing Co., Ltd. (ADR)  | 371039 | 84037 |
| Apple, Inc.  | 2252048 | 462053 |
| Salesforce, Inc.  | 1191227 | 324836 |
| Constellation Software, Inc.  | 87642 | 321361 |
| Adobe, Inc. <sup>(a)</sup>  | 740568 | 286511 |
| Synopsys, Inc. <sup>(a)</sup>  | 548921 | 281421 |
| SK hynix, Inc.  | 1164664 | 251987 |
| Motorola Solutions, Inc.  | 392000 | 164820 |
| ASML Holding NV (ADR)  | 159102 | 127502 |
| ASML Holding NV  | 25261 | 20163 |
| KLA Corp.  | 145050 | 129927 |
| Oracle Corp.  | 588434 | 128649 |
| Unity Software, Inc. <sup>(a)</sup>  | 5288825 | 127990 |
| Palantir Technologies, Inc., Class A <sup>(a)</sup>  | 809801 | 110392 |
| AppLovin Corp., Class A <sup>(a)</sup>  | 270000 | 94522 |
| Datadog, Inc., Class A <sup>(a)</sup>  | 649685 | 87272 |
| DocuSign, Inc. <sup>(a)</sup>  | 922000 | 71815 |
| ARM Holdings PLC (ADR) <sup>(a)(b)</sup>  | 437756 | 70803 |
| Intel Corp.  | 2250000 | 50400 |
| RingCentral, Inc., Class A <sup>(a)</sup>  | 1465500 | 41547 |
| Atlassian Corp., Class A <sup>(a)</sup>  | 175462 | 35635 |
| ServiceNow, Inc. <sup>(a)</sup>  | 31490 | 32374 |
| Fair Isaac Corp. <sup>(a)</sup>  | 16963 | 31008 |
| ASM International NV  | 41358 | 26473 |
| Accenture PLC, Class A  | 74063 | 22137 |
| Applied Materials, Inc.  | 102877 | 18834 |
| MKS, Inc.  | 101047 | 10040 |
| HubSpot, Inc. <sup>(a)</sup>  | 14369 | 7998 |
| Stripe, Inc., Class B <sup>(a)(c)(d)</sup>  | 168598 | 5985 |
|  |  | 13904302 |
| **Communication services 19.98%** |  |  |
| Meta Platforms, Inc., Class A  | 6460365 | 4768331 |
| Netflix, Inc. <sup>(a)</sup>  | 1675116 | 2243198 |
| Alphabet, Inc., Class C  | 6355470 | 1127397 |
| Alphabet, Inc., Class A  | 5364896 | 945455 |
| Charter Communications, Inc., Class A <sup>(a)</sup>  | 752094 | 307464 |
| Snap, Inc., Class A, nonvoting shares <sup>(a)</sup>  | 27200000 | 236368 |
| ROBLOX Corp., Class A <sup>(a)</sup>  | 1951083 | 205254 |
| Live Nation Entertainment, Inc. <sup>(a)</sup>  | 1297347 | 196263 |
| Take-Two Interactive Software, Inc. <sup>(a)</sup>  | 355373 | 86302 |
| Comcast Corp., Class A  | 1343725 | 47957 |
| Nintendo Co., Ltd.  | 411400 | 39653 |
| T-Mobile US, Inc.  | 99374 | 23677 |
| Pinterest, Inc., Class A <sup>(a)</sup>  | 352109 | 12627 |
| Frontier Communications Parent, Inc. <sup>(a)</sup>  | 244130 | 8886 |
|  |  | 10248832 |
| **Consumer discretionary 13.76%** |  |  |
| Tesla, Inc. <sup>(a)</sup>  | 7509093 | 2385339 |
| Amazon.com, Inc. <sup>(a)</sup>  | 5592177 | 1226868 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **13** | American Funds Insurance Series |

---

------

Growth Fund (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Consumer discretionary (continued)** |  |  |
| Royal Caribbean Cruises, Ltd.  | 2278615 | $713525 |
| DoorDash, Inc., Class A <sup>(a)</sup>  | 1700000 | 419067 |
| Chipotle Mexican Grill, Inc. <sup>(a)</sup>  | 5026162 | 282219 |
| NIKE, Inc., Class B  | 3183461 | 226153 |
| Tractor Supply Co.  | 3325000 | 175460 |
| Hermes International  | 61000 | 165195 |
| Aramark  | 3218114 | 134742 |
| Burlington Stores, Inc. <sup>(a)</sup>  | 571948 | 133058 |
| Norwegian Cruise Line Holdings, Ltd. <sup>(a)</sup>  | 6094950 | 123606 |
| Booking Holdings, Inc.  | 21261 | 123085 |
| Home Depot, Inc.  | 315781 | 115778 |
| Duolingo, Inc., Class A <sup>(a)</sup>  | 267716 | 109769 |
| Flutter Entertainment PLC <sup>(a)</sup>  | 330165 | 94348 |
| Rivian Automotive, Inc., Class A <sup>(a)(b)</sup>  | 5693160 | 78224 |
| Wayfair, Inc., Class A <sup>(a)</sup>  | 1406061 | 71906 |
| Service Corp. International  | 848647 | 69080 |
| D.R. Horton, Inc.  | 478018 | 61626 |
| Amadeus IT Group SA, Class A, non-registered shares  | 661683 | 55714 |
| Starbucks Corp.  | 443476 | 40636 |
| DraftKings, Inc., Class A <sup>(a)</sup>  | 908357 | 38959 |
| YUM! Brands, Inc.  | 246744 | 36563 |
| Floor & Decor Holdings, Inc., Class A <sup>(a)</sup>  | 437000 | 33194 |
| Five Below, Inc. <sup>(a)</sup>  | 252000 | 33057 |
| Churchill Downs, Inc.  | 295641 | 29860 |
| Marriott International, Inc., Class A  | 56000 | 15300 |
| Polaris, Inc.  | 371000 | 15081 |
| TopBuild Corp. <sup>(a)</sup>  | 40220 | 13021 |
| YETI Holdings, Inc. <sup>(a)</sup>  | 325329 | 10254 |
| Caesars Entertainment, Inc. <sup>(a)</sup>  | 356300 | 10115 |
| Hilton Worldwide Holdings, Inc.  | 36119 | 9620 |
| Helen of Troy, Ltd. <sup>(a)</sup>  | 269597 | 7651 |
|  |  | 7058073 |
| **Health care 11.06%** |  |  |
| Intuitive Surgical, Inc. <sup>(a)</sup>  | 1991933 | 1082437 |
| Eli Lilly and Co.  | 922850 | 719389 |
| Vertex Pharmaceuticals, Inc. <sup>(a)</sup>  | 1490615 | 663622 |
| Alnylam Pharmaceuticals, Inc. <sup>(a)</sup>  | 1686200 | 549853 |
| UnitedHealth Group, Inc.  | 930678 | 290344 |
| Boston Scientific Corp. <sup>(a)</sup>  | 2547986 | 273679 |
| HCA Healthcare, Inc.  | 627846 | 240528 |
| Thermo Fisher Scientific, Inc.  | 472926 | 191753 |
| Hims & Hers Health, Inc., Class A <sup>(a)</sup>  | 2848145 | 141980 |
| Illumina, Inc. <sup>(a)</sup>  | 1344976 | 128324 |
| Regeneron Pharmaceuticals, Inc.  | 231073 | 121313 |
| Centene Corp. <sup>(a)</sup>  | 2053544 | 111466 |
| Bristol-Myers Squibb Co.  | 1979253 | 91620 |
| Guardant Health, Inc. <sup>(a)</sup>  | 1705050 | 88731 |
| Insmed, Inc. <sup>(a)</sup>  | 796167 | 80126 |
| Ascendis Pharma AS (ADR) <sup>(a)</sup>  | 444896 | 76789 |
| Mettler-Toledo International, Inc. <sup>(a)</sup>  | 62042 | 72882 |
| Align Technology, Inc. <sup>(a)</sup>  | 369578 | 69972 |
| Danaher Corp.  | 340644 | 67291 |
| Ionis Pharmaceuticals, Inc. <sup>(a)</sup>  | 1674900 | 66175 |
| Novo Nordisk AS, Class B  | 917755 | 63698 |
| Exact Sciences Corp. <sup>(a)</sup>  | 1192321 | 63360 |
| EssilorLuxottica SA  | 229003 | 62826 |
| BioNTech SE (ADR) <sup>(a)(b)</sup>  | 562734 | 59914 |
| Abbott Laboratories  | 371669 | 50551 |
| Molina Healthcare, Inc. <sup>(a)</sup>  | 161327 | 48059 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

American Funds Insurance Series<sub>14</sub>

------

Growth Fund (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Health care (continued)** |  |  |
| AstraZeneca PLC  | 343952 | $47779 |
| Royalty Pharma PLC, Class A  | 955185 | 34415 |
| Veeva Systems, Inc., Class A <sup>(a)</sup>  | 87585 | 25223 |
| IQVIA Holdings, Inc. <sup>(a)</sup>  | 105500 | 16626 |
| CRISPR Therapeutics AG <sup>(a)(b)</sup>  | 334619 | 16276 |
| Amgen, Inc.  | 55569 | 15515 |
| Elevance Health, Inc.  | 26768 | 10412 |
| QIAGEN NV  | 215885 | 10375 |
| Verily Life Sciences, LLC <sup>(a)(c)(d)</sup>  | 300178 | 9825 |
| Sarepta Therapeutics, Inc. <sup>(a)</sup>  | 498337 | 8521 |
|  |  | 5671649 |
| **Industrials 10.54%** |  |  |
| TransDigm Group, Inc.  | 716472 | 1089496 |
| General Electric Co.  | 1544121 | 397441 |
| Quanta Services, Inc.  | 987626 | 373402 |
| Uber Technologies, Inc. <sup>(a)</sup>  | 3500000 | 326550 |
| Axon Enterprise, Inc. <sup>(a)</sup>  | 366366 | 303329 |
| United Rentals, Inc.  | 343479 | 258777 |
| Ingersoll-Rand, Inc.  | 2632733 | 218991 |
| GE Vernova, Inc.  | 384741 | 203586 |
| United Airlines Holdings, Inc. <sup>(a)</sup>  | 2300410 | 183182 |
| ATI, Inc. <sup>(a)</sup>  | 2086140 | 180117 |
| Dayforce, Inc. <sup>(a)</sup>  | 3030416 | 167855 |
| Republic Services, Inc.  | 664509 | 163875 |
| Equifax, Inc.  | 626858 | 162588 |
| Boeing Co. (The) <sup>(a)</sup>  | 684135 | 143347 |
| FTAI Aviation, Ltd.  | 1094574 | 125920 |
| Copart, Inc. <sup>(a)</sup>  | 2348144 | 115223 |
| Northrop Grumman Corp.  | 202123 | 101057 |
| Airbus SE, non-registered shares  | 426445 | 89043 |
| Ryanair Holdings PLC (ADR)  | 1404492 | 80997 |
| Ryanair Holdings PLC  | 96554 | 2732 |
| Rocket Lab Corp. <sup>(a)(b)</sup>  | 2320675 | 83011 |
| Casella Waste Systems, Inc., Class A <sup>(a)</sup>  | 701174 | 80901 |
| Old Dominion Freight Line, Inc.  | 490000 | 79527 |
| Willscot Holdings Corp., Class A  | 2545837 | 69756 |
| Carrier Global Corp.  | 739587 | 54130 |
| ITT, Inc.  | 343000 | 53793 |
| Saia, Inc. <sup>(a)</sup>  | 192280 | 52683 |
| Honeywell International, Inc.  | 204196 | 47553 |
| HEICO Corp.  | 137622 | 45140 |
| Bombardier, Inc., Class B <sup>(a)</sup>  | 518058 | 45135 |
| XPO, Inc. <sup>(a)</sup>  | 263564 | 33286 |
| Lennox International, Inc.  | 43370 | 24861 |
| Safran SA  | 49416 | 16060 |
| FedEx Corp.  | 68327 | 15531 |
| Tetra Tech, Inc.  | 342234 | 12307 |
| Einride AB <sup>(a)(c)(d)</sup>  | 78648 | 2633 |
|  |  | 5403815 |
| **Financials 7.98%** |  |  |
| Visa, Inc., Class A  | 2685292 | 953413 |
| Bank of America Corp.  | 7760600 | 367232 |
| Fiserv, Inc. <sup>(a)</sup>  | 1979966 | 341366 |
| Toast, Inc., Class A <sup>(a)</sup>  | 7274350 | 322181 |
| Mastercard, Inc., Class A  | 492848 | 276951 |
| KKR & Co., Inc.  | 2009945 | 267383 |
| Affirm Holdings, Inc., Class A <sup>(a)</sup>  | 3595701 | 248607 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **15** | American Funds Insurance Series |

---

------

Growth Fund (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Financials (continued)** |  |  |
| Apollo Asset Management, Inc.  | 1370731 | $194466 |
| Brookfield Corp., Class A  | 2314781 | 143169 |
| Capital One Financial Corp.  | 632231 | 134513 |
| Blackstone, Inc.  | 802515 | 120040 |
| Blue Owl Capital, Inc., Class A  | 4832647 | 92835 |
| Progressive Corp.  | 307337 | 82016 |
| Block, Inc., Class A <sup>(a)</sup>  | 1119780 | 76067 |
| UBS Group AG  | 2174000 | 73567 |
| Ryan Specialty Holdings, Inc., Class A  | 1007426 | 68495 |
| First Citizens BancShares, Inc., Class A  | 31833 | 62280 |
| Marsh & McLennan Cos., Inc.  | 275836 | 60309 |
| Ares Management Corp., Class A  | 346466 | 60008 |
| Truist Financial Corp.  | 1350366 | 58052 |
| Intercontinental Exchange, Inc.  | 176208 | 32329 |
| Aon PLC, Class A  | 57337 | 20455 |
| Kinsale Capital Group, Inc.  | 34500 | 16694 |
| Arch Capital Group, Ltd.  | 159854 | 14555 |
| Coinbase Global, Inc., Class A <sup>(a)</sup>  | 21116 | 7401 |
|  |  | 4094384 |
| **Consumer staples 2.05%** |  |  |
| Performance Food Group Co. <sup>(a)</sup>  | 3559500 | 311350 |
| Costco Wholesale Corp.  | 303405 | 300353 |
| Dollar General Corp.  | 665684 | 76141 |
| Mondelez International, Inc., Class A  | 861831 | 58122 |
| Bunge Global SA  | 679809 | 54575 |
| Philip Morris International, Inc.  | 298723 | 54406 |
| Constellation Brands, Inc., Class A  | 325000 | 52871 |
| Church & Dwight Co., Inc.  | 483136 | 46434 |
| Dollar Tree Stores, Inc. <sup>(a)</sup>  | 372328 | 36875 |
| Keurig Dr Pepper, Inc.  | 903000 | 29853 |
| Estee Lauder Cos., Inc. (The), Class A  | 350812 | 28346 |
| JUUL Labs, Inc., Class A <sup>(a)(c)(d)(e)</sup>  | 2496349 | 2671 |
|  |  | 1051997 |
| **Energy 1.98%** |  |  |
| EOG Resources, Inc.  | 2848235 | 340677 |
| MEG Energy Corp.  | 8273055 | 156318 |
| Baker Hughes Co., Class A  | 3500000 | 134190 |
| Cenovus Energy, Inc. (CAD denominated)  | 6693761 | 91085 |
| TechnipFMC PLC  | 2000000 | 68880 |
| Canadian Natural Resources, Ltd. (CAD denominated)  | 2160826 | 67915 |
| Diamondback Energy, Inc.  | 325000 | 44655 |
| EQT Corp.  | 701954 | 40938 |
| Tourmaline Oil Corp.  | 596759 | 28792 |
| Schlumberger NV  | 662103 | 22379 |
| ConocoPhillips  | 225174 | 20207 |
|  |  | 1016036 |
| **Materials 1.42%** |  |  |
| Wheaton Precious Metals Corp.  | 2574257 | 231168 |
| Grupo Mexico, SAB de CV, Series B  | 19156155 | 116032 |
| Royal Gold, Inc.  | 551247 | 98034 |
| Albemarle Corp.  | 1072000 | 67182 |
| Linde PLC  | 122857 | 57642 |
| Franco-Nevada Corp. (CAD denominated)  | 323280 | 53076 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **16** |

---

------

Growth Fund (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Materials (continued)** |  |  |
| LyondellBasell Industries NV  | 856344 | $49548 |
| Sherwin-Williams Co.  | 98004 | 33651 |
| Glencore PLC  | 5275000 | 20535 |
|  |  | 726868 |
| **Utilities 0.70%** |  |  |
| Constellation Energy Corp.  | 894062 | 288568 |
| PG&E Corp.  | 4145582 | 57789 |
| Southern Co. (The)  | 127300 | 11690 |
|  |  | 358047 |
| **Real estate 0.60%** |  |  |
| CoStar Group, Inc. <sup>(a)</sup>  | 2099529 | 168802 |
| Zillow Group, Inc., Class C, nonvoting shares <sup>(a)</sup>  | 2008084 | 140666 |
|  |  | 309468 |
| **Total common stocks** (cost: $20,717,415,000) |  | 49843471 |
| Preferred securities 0.29% |  |  |
| **Information technology 0.28%** |  |  |
| Stripe, Inc., Series I, 6.00% noncumulative preferred shares <sup>(a)(c)(d)</sup>  | 2763342 | 98099 |
| Stripe, Inc., Series H, 6.00% noncumulative preferred shares <sup>(a)(c)(d)</sup>  | 52656 | 1869 |
| PsiQuantum Corp., Series D, preferred shares <sup>(a)(c)(d)</sup>  | 906761 | 37291 |
| PsiQuantum Corp., Series E, preferred shares <sup>(a)(c)(d)</sup>  | 56040 | 2305 |
| Tipalti Solutions, Ltd., Series F, preferred shares <sup>(a)(c)(d)</sup>  | 406310 | 2056 |
|  |  | 141620 |
| **Industrials 0.01%** |  |  |
| Einride AB, Series C, preferred shares <sup>(a)(c)(d)</sup>  | 154765 | 5182 |
| **Total preferred securities** (cost: $96,054,000) |  | 146802 |
| Rights & warrants 0.04% |  |  |
| **Information technology 0.04%** |  |  |
| Openai Global, LLC, rights <sup>(a)(c)(d)</sup>  | 13740540 | 22672 |
| Constellation Software, Inc., warrants, expire 3/31/2040 <sup>(a)(c)</sup>  | 53352 | — <br><sup>(f)</sup><br>|
| **Total rights & warrants** (cost: $13,741,000) |  | 22672 |
| Convertible stocks 0.01% |  |  |
| **Materials 0.01%** |  |  |
| Albemarle Corp., Class A, cumulative convertible preferred depositary shares, 7.25% 3/1/2027  | 128700 | 4131 |
| **Industrials 0.00%** |  |  |
| ABL Space Systems Co., Class A-10, noncumulative convertible preferred shares <sup>(c)(d)</sup>  | 809003 | 566 |
| ABL Space Systems Co., Class A-9, noncumulative convertible preferred shares <sup>(c)(d)</sup>  | 171920 | 120 |
| **Total convertible stocks** (cost: $18,269,000) |  | 4817 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **17** | American Funds Insurance Series |

---

------

Growth Fund (continued)

---

| | | |
|:---|:---|:---|
| Short-term securities 3.06% | Shares | Value<br> (000)<br>|
| **Money market investments 2.81%** | **Money market investments 2.81%** | **Money market investments 2.81%** |
| Capital Group Central Cash Fund 4.35% <sup>(g)(h)</sup>  | 14433847 | $1443384 |
| **Money market investments purchased with collateral from securities on loan 0.25%** | **Money market investments purchased with collateral from securities on loan 0.25%** | **Money market investments purchased with collateral from securities on loan 0.25%** |
| Invesco Short-Term Investments Trust – Government & Agency Portfolio, Institutional Class 4.26% <sup>(g)(i)</sup>  | 126327908 | 126327 |
| **Total short-term securities** (cost: $1,569,522,000) |  | 1569711 |
| **Total investment securities 100.58%** (cost: $22,415,001,000) |  | 51587473 |
| Other assets less liabilities (0.58)% |  | (297705)<br>|
| **Net assets 100.00%** |  | $51289768 |

---

**Investments in affiliates** <sup>(h)</sup>

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>1/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>6/30/2025 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Short-term securities 2.81%** |  |  |  |  |  |  |  |
| **Money market investments 2.81%** |  |  |  |  |  |  |  |
| Capital Group Central Cash Fund 4.35% <sup>(g)</sup>  | $1045665 | &nbsp;&nbsp; $3192626 | &nbsp;&nbsp; $2794827 | &nbsp;&nbsp; $(73)<br>| &nbsp;&nbsp; $(7)<br>| &nbsp;&nbsp; $1443384 | &nbsp;&nbsp; $28944 |
| **Money market investments purchased with collateral** <br>**from securities on loan 0.00%**<br>|  |  |  |  |  |  |  |
| Capital Group Central Cash Fund 4.35% <sup>(g)</sup>  | 4032 |  | &nbsp;&nbsp; 4032 <br><sup>(j)</sup><br>|  |  | &nbsp;&nbsp; — | &nbsp;&nbsp; — <br><sup>(k)</sup><br>|
| **Total 2.81%** |  |  |  | &nbsp;&nbsp; $(73)<br>| &nbsp;&nbsp; $(7)<br>| &nbsp;&nbsp; $1443384 | &nbsp;&nbsp; $28944 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **18** |

---

------

Growth Fund (continued)

**Restricted securities** <sup>(d)</sup>

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Acquisition <br>date(s)<br>| Cost <br>(000)<br>| Value <br>(000)<br>| Percent <br>of net <br>assets<br>|
| Stripe, Inc., Series I, 6.00% noncumulative preferred shares <sup>(a)(c)</sup> <br>| 3/15/2023 | $55637 | $98099 | 0.19<br> %<br>|
| Stripe, Inc., Class B <sup>(a)(c)</sup> <br>| 5/6/2021 | 6766 | 5985 | 0.01 |
| Stripe, Inc., Series H, 6.00% noncumulative preferred shares <sup>(a)(c)</sup> <br>| 3/15/2021 | 2113 | 1869 | 0.01 |
| PsiQuantum Corp., Series D, preferred shares <sup>(a)(c)</sup> <br>| 5/28/2021 | 23781 | 37291 | 0.07 |
| PsiQuantum Corp., Series E, preferred shares <sup>(a)(c)</sup> <br>| 5/23/2025-6/3/2025 | 2305 | 2305 | 0.01 |
| Openai Global, LLC, rights <sup>(a)(c)</sup> <br>| 9/30/2024 | 13741 | 22672 | 0.04 |
| Verily Life Sciences, LLC <sup>(a)(c)</sup> <br>| 12/21/2018 | 37000 | 9825 | 0.02 |
| Einride AB, Series C, preferred shares <sup>(a)(c)</sup> <br>| 11/23/2022-8/1/2024 | 5262 | 5182 | 0.01 |
| Einride AB <sup>(a)(c)</sup> <br>| 2/1/2023 | 2674 | 2633 | 0.01 |
| JUUL Labs, Inc., Class A <sup>(a)(c)(e)</sup> <br>| 7/29/2024 | 19001 | 2671 | 0.00 <br><sup>(l)</sup><br>|
| Tipalti Solutions, Ltd., Series F, preferred shares <sup>(a)(c)</sup> <br>| 12/1/2021 | 6956 | 2056 | 0.00 <br><sup>(l)</sup><br>|
| ABL Space Systems Co., Class A-10, noncumulative convertible <br> preferred shares <sup>(c)</sup> <br>| 12/14/2023 | 1382 | 566 | 0.00 <br><sup>(l)</sup><br>|
| ABL Space Systems Co., Class A-9, noncumulative convertible <br> preferred shares <sup>(c)</sup> <br>| 10/22/2021 | 10452 | 120 | 0.00 <br><sup>(l)</sup><br>|
| **Total** |  | $187070 | $191274 | 0.37<br> %<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Security did not produce income during the last 12 months.

<sup>(b)</sup> All or a portion of this security was on loan. The total value of all such securities was $137,026,000, which represented 0.27% of the net assets of the fund. Refer to Note 5 for more information on securities lending. 

<sup>(c)</sup> Value determined using significant unobservable inputs.

<sup>(d)</sup> Restricted security, other than Rule 144A securities or commercial paper issued pursuant to Section 4(a)(2) of the Securities Act of 1933. The total value of all such restricted securities was $191,274,000, which represented 0.37% of the net assets of the fund. 

<sup>(e)</sup> Security is subject to a contractual sale restriction (lockup). The total value of all such securities was $2,671,000, which represented less than 0.01% of the net assets of the fund. The remaining lockup period is generally less than one year; and early lockup release provisions may be applicable based on certain set milestones or condition in accordance with legal documents. 

<sup>(f)</sup> Amount less than one thousand.

<sup>(g)</sup> Rate represents the seven-day yield at 6/30/2025.

<sup>(h)</sup> Part of the same "group of investment companies" as the fund as defined under the Investment Company Act of 1940, as amended.

<sup>(i)</sup> Security purchased with cash collateral from securities on loan. Refer to Note 5 for more information on securities lending.

<sup>(j)</sup> Represents net activity. Refer to Note 5 for more information on securities lending.

<sup>(k)</sup> Dividend income is included with securities lending income in the fund's statement of operations and is not shown in this table.

<sup>(l)</sup> Amount less than 0.01%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **Key to abbreviation(s)** |
| ADR = American Depositary Receipts |
| CAD = Canadian dollars |

---

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **19** | American Funds Insurance Series |

---

------

International Fund

**Investment portfolio** June 30, 2025unaudited

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Common stocks 95.66% | Shares | Value<br> (000)<br>|
| **Industrials 18.27%** |  |  |
| Airbus SE, non-registered shares  | 1175038 | $245352 |
| Recruit Holdings Co., Ltd.  | 2441206 | 144687 |
| Rolls-Royce Holdings PLC  | 9280451 | 123261 |
| MTU Aero Engines AG  | 229720 | 102070 |
| Siemens AG  | 342280 | 87754 |
| Techtronic Industries Co., Ltd.  | 6692500 | 73575 |
| Melrose Industries PLC  | 9427170 | 68687 |
| Volvo AB, Class B  | 2202525 | 61786 |
| DSV A/S  | 196029 | 47106 |
| Diploma PLC  | 649753 | 43595 |
| Rumo SA  | 11921504 | 40659 |
| Localiza Rent a Car SA, ordinary nominative shares  | 5037704 | 37571 |
| Daikin Industries, Ltd.  | 284574 | 33644 |
| Schneider Electric SE  | 123293 | 32794 |
| Hitachi, Ltd.  | 1041000 | 30397 |
| Shenzhen Inovance Technology Co., Ltd., Class A  | 2154066 | 19411 |
| AtkinsRealis Group, Inc.  | 263382 | 18473 |
| Safran SA  | 56700 | 18427 |
| Marubeni Corp.  | 835500 | 16901 |
| Experian PLC  | 312810 | 16110 |
| ITOCHU Corp.  | 287300 | 15075 |
| Singapore Technologies Engineering, Ltd.  | 1938700 | 11878 |
| Grab Holdings, Ltd., Class A <sup>(a)</sup>  | 2358675 | 11864 |
| IHI Corp.  | 82450 | 8955 |
| Ashtead Group PLC  | 105159 | 6739 |
|  |  | 1316771 |
| **Financials 16.42%** |  |  |
| Standard Chartered PLC  | 10643746 | 176344 |
| Banco Bilbao Vizcaya Argentaria SA  | 9692633 | 149055 |
| Nu Holdings, Ltd., Class A <sup>(a)</sup>  | 9743513 | 133681 |
| KB Financial Group, Inc.  | 1185335 | 97402 |
| ING Groep NV  | 4427753 | 97147 |
| 3i Group PLC  | 1312886 | 74248 |
| Mizuho Financial Group, Inc.  | 2329200 | 64585 |
| AIA Group, Ltd.  | 5580497 | 50047 |
| China Merchants Bank Co., Ltd., Class A  | 6885237 | 44153 |
| Ping An Insurance (Group) Company of China, Ltd., Class A  | 5391410 | 41744 |
| Ping An Insurance (Group) Company of China, Ltd., Class H  | 5500 | 35 |
| Munchener Ruckversicherungs-Gesellschaft AG  | 56655 | 36745 |
| Societe Generale  | 641452 | 36684 |
| Tokio Marine Holdings, Inc.  | 722100 | 30643 |
| Bank Central Asia Tbk PT  | 56767400 | 30333 |
| BNP Paribas SA  | 274697 | 24696 |
| Barclays PLC  | 4901727 | 22695 |
| Bank Mandiri (Persero) Tbk PT  | 74952600 | 22530 |
| ICICI Bank, Ltd.  | 1170642 | 19735 |
| NatWest Group PLC  | 2303704 | 16171 |
| Kotak Mahindra Bank, Ltd.  | 425144 | 10725 |
| Futu Holdings, Ltd. (ADR)  | 35499 | 4387 |
|  |  | 1183785 |
| **Information technology 13.29%** |  |  |
| Taiwan Semiconductor Manufacturing Co., Ltd.  | 9788936 | 355207 |
| SAP SE  | 457023 | 138975 |
| ASML Holding NV  | 131045 | 104598 |
| SK hynix, Inc.  | 474112 | 102579 |
| Tokyo Electron, Ltd.  | 526498 | 101201 |
| Shopify, Inc., Class A, subordinate voting shares <sup>(a)</sup>  | 387897 | 44744 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **20** |

---

------

International Fund (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Information technology (continued)** |  |  |
| STMicroelectronics NV  | 941936 | $28776 |
| Infineon Technologies AG  | 575649 | 24489 |
| Constellation Software, Inc.  | 3666 | 13442 |
| Tata Consultancy Services, Ltd.  | 242399 | 9785 |
| Keyence Corp.  | 22764 | 9143 |
| Renesas Electronics Corp.  | 608100 | 7555 |
| NEC Corp.  | 244075 | 7151 |
| Canva, Inc. <sup>(a)(b)(c)</sup>  | 4819 | 6168 |
| Elite Material Co., Ltd. <sup>(a)</sup>  | 142322 | 4297 |
|  |  | 958110 |
| **Communication services 9.09%** |  |  |
| SoftBank Group Corp.  | 2223300 | 162342 |
| Deutsche Telekom AG  | 3342675 | 121945 |
| Tencent Holdings, Ltd.  | 1728061 | 110729 |
| Bharti Airtel, Ltd.  | 4448767 | 104247 |
| Universal Music Group NV  | 1409146 | 45614 |
| Sea, Ltd., Class A (ADR) <sup>(a)</sup>  | 247921 | 39652 |
| NetEase, Inc.  | 879716 | 23646 |
| Advanced Info Service PCL, foreign registered shares  | 2166500 | 18560 |
| Singapore Telecommunications, Ltd.  | 5800500 | 17427 |
| Nintendo Co., Ltd.  | 117200 | 11296 |
|  |  | 655458 |
| **Consumer discretionary 9.02%** |  |  |
| MercadoLibre, Inc. <sup>(a)</sup>  | 34217 | 89431 |
| adidas AG  | 335638 | 78263 |
| Trip.com Group, Ltd.  | 1243307 | 72223 |
| Flutter Entertainment PLC <sup>(a)</sup>  | 244696 | 69924 |
| Compagnie Financiere Richemont SA, Class A  | 273347 | 51486 |
| Maruti Suzuki India, Ltd.  | 313157 | 45279 |
| Ferrari NV (EUR denominated)  | 87650 | 42961 |
| NEXT PLC  | 242819 | 41463 |
| Hyundai Motor Co.  | 162486 | 24501 |
| Midea Group Co., Ltd., Class A  | 2284500 | 23019 |
| H World Group, Ltd. (ADR)  | 587501 | 19928 |
| Moncler SpA  | 341959 | 19492 |
| Galaxy Entertainment Group, Ltd.  | 4030000 | 17891 |
| Industria de Diseno Textil SA  | 266263 | 13857 |
| Fast Retailing Co., Ltd.  | 33500 | 11520 |
| Shimano, Inc.  | 71200 | 10336 |
| Coupang, Inc., Class A <sup>(a)</sup>  | 205714 | 6163 |
| Stellantis NV  | 499419 | 5006 |
| Hermes International  | 1637 | 4433 |
| LVMH Moet Hennessy-Louis Vuitton SE  | 5799 | 3037 |
|  |  | 650213 |
| **Health care 8.62%** |  |  |
| Novo Nordisk AS, Class B  | 2797531 | 194165 |
| Daiichi Sankyo Co., Ltd.  | 6367450 | 148790 |
| Sanofi  | 1342290 | 129986 |
| Eurofins Scientific SE, non-registered shares  | 494520 | 35208 |
| Zealand Pharma AS <sup>(a)</sup>  | 566084 | 31702 |
| AstraZeneca PLC  | 196051 | 27234 |
| Alcon, Inc.  | 214923 | 19015 |
| Sandoz Group AG  | 212368 | 11621 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **21** | American Funds Insurance Series |

---

------

International Fund (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Health care (continued)** |  |  |
| EssilorLuxottica SA  | 36064 | $9894 |
| bioMerieux SA  | 63303 | 8754 |
| Ambu AS, Class B, non-registered shares  | 319853 | 5020 |
|  |  | 621389 |
| **Materials 7.87%** |  |  |
| First Quantum Minerals, Ltd. <sup>(a)</sup>  | 14456903 | 256811 |
| Ivanhoe Mines, Ltd., Class A <sup>(a)</sup>  | 6385274 | 47969 |
| Ivanhoe Mines, Ltd., Class A <sup>(a)(c)</sup>  | 3675281 | 27610 |
| Rio Tinto PLC  | 930790 | 54236 |
| Shin-Etsu Chemical Co., Ltd.  | 1256900 | 41651 |
| Grupo Mexico, SAB de CV, Series B  | 5747400 | 34813 |
| Air Liquide SA  | 118039 | 24352 |
| Nitto Denko Corp.  | 1148055 | 22255 |
| Smurfit Westrock PLC  | 316723 | 13666 |
| Nippon Sanso Holdings Corp.  | 355500 | 13486 |
| Anglo American PLC  | 350603 | 10347 |
| Akzo Nobel NV  | 112948 | 7903 |
| Antofagasta PLC  | 291075 | 7230 |
| DSM-Firmenich AG  | 46001 | 4891 |
|  |  | 567220 |
| **Consumer staples 5.97%** |  |  |
| British American Tobacco PLC  | 2677738 | 127286 |
| Nestle SA  | 617355 | 61335 |
| Danone SA  | 740649 | 60513 |
| L'Oreal SA, non-registered shares  | 131934 | 56430 |
| Ajinomoto Co., Inc.  | 1796300 | 48760 |
| JBS NV (BDR) <sup>(a)</sup>  | 1940148 | 27928 |
| Kweichow Moutai Co., Ltd., Class A  | 90352 | 17773 |
| Avenue Supermarts, Ltd. <sup>(a)</sup>  | 262709 | 13394 |
| Uni-Charm Corp.  | 1184800 | 8561 |
| Imperial Brands PLC  | 193818 | 7654 |
| Suntory Beverage & Food, Ltd.  | 19800 | 634 |
|  |  | 430268 |
| **Energy 5.50%** |  |  |
| Reliance Industries, Ltd.  | 10489681 | 183545 |
| Canadian Natural Resources, Ltd. (CAD denominated)  | 4945487 | 155437 |
| Cenovus Energy, Inc. (CAD denominated)  | 2993045 | 40728 |
| Shell PLC (GBP denominated)  | 316792 | 11104 |
| Neste OYJ  | 391662 | 5315 |
|  |  | 396129 |
| **Utilities 1.61%** |  |  |
| Gulf Development PCL  | 36220543 | 43253 |
| E.ON SE  | 1586206 | 29195 |
| Companhia de Saneamento Basico do Estado de Sao Paulo-SABESP, ordinary nominative shares  | 760600 | 16677 |
| SembCorp Industries, Ltd.  | 2815100 | 15166 |
| Engie SA  | 511996 | 12017 |
|  |  | 116308 |
| **Total common stocks** (cost: $5,034,543,000) |  | 6895651 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **22** |

---

------

International Fund (continued)

---

| | | |
|:---|:---|:---|
| Preferred securities 0.46% | Shares | Value<br> (000)<br>|
| **Financials 0.45%** |  |  |
| Itau Unibanco Holding SA, preferred nominative shares  | 4838084 | $32903 |
| **Information technology 0.01%** |  |  |
| Canva, Inc., Series A, noncumulative preferred shares <sup>(a)(b)(c)</sup>  | 422 | 540 |
| Canva, Inc., Series A-3, noncumulative preferred shares <sup>(a)(b)(c)</sup>  | 18 | 23 |
| Canva, Inc., Series A-4, noncumulative preferred shares <sup>(a)(b)(c)</sup>  | 1 | 2 |
|  |  | 565 |
| **Total preferred securities** (cost: $29,320,000) |  | 33468 |
| Rights & warrants 0.00% |  |  |
| **Information technology 0.00%** |  |  |
| Constellation Software, Inc., warrants, expire 3/31/2040 <sup>(a)(b)</sup>  | 7730 | — <br><sup>(d)</sup><br>|
| **Total rights & warrants** (cost: $0) |  | — <br><sup>(d)</sup><br>|
| Short-term securities 4.59% |  |  |
| **Money market investments 4.59%** | **Money market investments 4.59%** | **Money market investments 4.59%** |
| Capital Group Central Cash Fund 4.35% <sup>(e)(f)</sup>  | 3308684 | 330868 |
| **Total short-term securities** (cost: $330,857,000) |  | 330868 |
| **Total investment securities 100.71%** (cost: $5,394,720,000) |  | 7259987 |
| Other assets less liabilities (0.71)% |  | (51283)<br>|
| **Net assets 100.00%** |  | $7208704 |

---

**Investments in affiliates** <sup>(f)</sup>

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>1/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>6/30/2025 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Short-term securities 4.59%** |  |  |  |  |  |  |  |
| **Money market investments 4.59%** |  |  |  |  |  |  |  |
| Capital Group Central Cash Fund 4.35% <sup>(e)</sup>  | $396476 | &nbsp;&nbsp; $948672 | &nbsp;&nbsp; $1014187 | &nbsp;&nbsp; $(59)<br>| &nbsp;&nbsp; $(34)<br>| &nbsp;&nbsp; $330868 | &nbsp;&nbsp; $6773 |
| **Money market investments purchased with collateral** <br>**from securities on loan 0.00%**<br>|  |  |  |  |  |  |  |
| Capital Group Central Cash Fund 4.35% <sup>(e)</sup>  | 1000 |  | &nbsp;&nbsp; 1000 <br><sup>(g)</sup><br>|  |  | &nbsp;&nbsp; — | &nbsp;&nbsp; — <br><sup>(h)</sup><br>|
| **Total 4.59%** |  |  |  | &nbsp;&nbsp; $(59)<br>| &nbsp;&nbsp; $(34)<br>| &nbsp;&nbsp; $330868 | &nbsp;&nbsp; $6773 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **23** | American Funds Insurance Series |

---

------

International Fund (continued)

**Restricted securities** <sup>(c)</sup>

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Acquisition <br>date(s)<br>| Cost <br>(000)<br>| Value <br>(000)<br>| Percent <br>of net <br>assets<br>|
| Ivanhoe Mines, Ltd., Class A <sup>(a)</sup> <br>| 12/18/2023 | $32962 | $27610 | 0.38<br> %<br>|
| Canva, Inc. <sup>(a)(b)</sup> <br>| 8/26/2021-11/4/2021 | 8215 | 6168 | 0.09 |
| Canva, Inc., Series A, noncumulative preferred shares <sup>(a)(b)</sup> <br>| 11/4/2021 | 719 | 540 | 0.01 |
| Canva, Inc., Series A-3, noncumulative preferred shares <sup>(a)(b)</sup> <br>| 11/4/2021 | 31 | 23 | 0.00 <br><sup>(i)</sup><br>|
| Canva, Inc., Series A-4, noncumulative preferred shares <sup>(a)(b)</sup> <br>| 11/4/2021 | 2 | 2 | 0.00 <br><sup>(i)</sup><br>|
| **Total** |  | $41929 | $34343 | 0.48<br> %<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Security did not produce income during the last 12 months.

<sup>(b)</sup> Value determined using significant unobservable inputs.

<sup>(c)</sup> Restricted security, other than Rule 144A securities or commercial paper issued pursuant to Section 4(a)(2) of the Securities Act of 1933. The total value of all such restricted securities was $34,343,000, which represented 0.48% of the net assets of the fund. 

<sup>(d)</sup> Amount less than one thousand.

<sup>(e)</sup> Rate represents the seven-day yield at 6/30/2025.

<sup>(f)</sup> Part of the same "group of investment companies" as the fund as defined under the Investment Company Act of 1940, as amended.

<sup>(g)</sup> Represents net activity. Refer to Note 5 for more information on securities lending.

<sup>(h)</sup> Dividend income is included with securities lending income in the fund's statement of operations and is not shown in this table.

<sup>(i)</sup> Amount less than 0.01%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **Key to abbreviation(s)** |
| ADR = American Depositary Receipts |
| BDR = Brazilian Depositary Receipts |
| CAD = Canadian dollars |
| EUR = Euros |
| GBP = British pounds |

---

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **24** |

---

------

New World Fund

**Investment portfolio** June 30, 2025unaudited

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Common stocks 92.43% | Shares | Value<br> (000)<br>|
| **Financials 18.97%** |  |  |
| Nu Holdings, Ltd., Class A <sup>(a)</sup>  | 3475989 | $47691 |
| Banco Bilbao Vizcaya Argentaria SA  | 3027732 | 46561 |
| Mastercard, Inc., Class A  | 53659 | 30153 |
| KB Financial Group, Inc.  | 330656 | 27171 |
| UniCredit SpA  | 389263 | 26095 |
| Kotak Mahindra Bank, Ltd.  | 1018993 | 25707 |
| HDFC Bank, Ltd.  | 920326 | 21479 |
| Capitec Bank Holdings, Ltd.  | 103880 | 20836 |
| Abu Dhabi Islamic Bank PJSC  | 3439751 | 20137 |
| XP, Inc., Class A  | 951063 | 19211 |
| ICICI Bank, Ltd.  | 777107 | 13101 |
| ICICI Bank, Ltd. (ADR)  | 158364 | 5327 |
| Eurobank Ergasias Services and Holdings SA  | 5246223 | 18020 |
| PICC Property and Casualty Co., Ltd., Class H  | 9028947 | 17483 |
| AIA Group, Ltd.  | 1823800 | 16356 |
| PB Fintech, Ltd. <sup>(a)</sup>  | 758548 | 16132 |
| Hana Financial Group, Inc.  | 237601 | 15193 |
| Standard Chartered PLC  | 898272 | 14882 |
| Cholamandalam Investment and Finance Co., Ltd.  | 768894 | 14596 |
| Bank Mandiri (Persero) Tbk PT  | 47604600 | 14309 |
| Bank Central Asia Tbk PT  | 24537323 | 13111 |
| Visa, Inc., Class A  | 35083 | 12456 |
| National Bank of Greece SA  | 882700 | 11261 |
| Grupo Financiero Banorte, SAB de CV, Series O  | 1229490 | 11238 |
| AU Small Finance Bank, Ltd.  | 1119542 | 10672 |
| Hong Kong Exchanges and Clearing, Ltd.  | 199900 | 10665 |
| B3 SA - Brasil, Bolsa, Balcao  | 3890498 | 10440 |
| BSE, Ltd.  | 311729 | 10069 |
| Shriram Finance, Ltd.  | 1216175 | 10024 |
| S&P Global, Inc.  | 18499 | 9754 |
| Al Rajhi Banking and Investment Corp., non-registered shares  | 385958 | 9735 |
| Banco BTG Pactual SA, units  | 1168887 | 9090 |
| Brookfield Corp., Class A  | 140664 | 8700 |
| Woori Financial Group, Inc.  | 459527 | 7644 |
| Samsung Fire & Marine Insurance Co., Ltd.  | 23477 | 7550 |
| Emirates NBD Bank PJSC  | 1209547 | 7509 |
| Bank of the Philippine Islands  | 3239828 | 7477 |
| Alpha Bank SA  | 1994176 | 7024 |
| China Merchants Bank Co., Ltd., Class H  | 827500 | 5782 |
| China Merchants Bank Co., Ltd., Class A  | 120400 | 772 |
| People's Insurance Company (Group) of China, Ltd. (The), Class H  | 8466000 | 6439 |
| Banco Santander SA  | 727899 | 6025 |
| Bajaj Finance, Ltd.  | 539900 | 5896 |
| HSBC Holdings PLC (GBP denominated)  | 472913 | 5724 |
| Commercial International Bank - Egypt (CIB) SAE (GDR)  | 2502880 | 4205 |
| Commercial International Bank - Egypt (CIB) SAE  | 644623 | 1095 |
| Aon PLC, Class A  | 13063 | 4660 |
| Axis Bank, Ltd.  | 310838 | 4347 |
| Prudential PLC  | 340961 | 4271 |
| Futu Holdings, Ltd. (ADR)  | 33166 | 4099 |
| Central Depository Services (India), Ltd.  | 187676 | 3926 |
| Akbank TAS  | 1762454 | 3019 |
| Saudi National Bank (The)  | 304355 | 2931 |
| Canara Bank  | 2191124 | 2918 |
| Erste Group Bank AG  | 33639 | 2865 |
| Grupo Financiero Galicia SA, Class B (ADR)  | 55124 | 2778 |
| Vietnam Technological and Commercial JSCB (The) <sup>(a)</sup>  | 1840100 | 2554 |
| 360 ONE WAM, Ltd.  | 177690 | 2475 |
| BNP Paribas SA  | 27469 | 2470 |
| Discovery, Ltd.  | 193692 | 2350 |
| Ping An Insurance (Group) Company of China, Ltd., Class H  | 352544 | 2239 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **25** | American Funds Insurance Series |

---

------

New World Fund (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Financials (continued)** |  |  |
| Edenred SA  | 64058 | $1984 |
| Kaspi.kz JSC (ADR)  | 22533 | 1913 |
| Abu Dhabi Commercial Bank PJSC  | 509562 | 1870 |
| Bajaj Finserv, Ltd.  | 73887 | 1771 |
| CVC Capital Partners PLC  | 83328 | 1706 |
| Bank of Ningbo Co., Ltd., Class A  | 404900 | 1546 |
| Industrial and Commercial Bank of China, Ltd., Class H  | 1873000 | 1484 |
| Saudi Awwal Bank SJSC, non-registered shares  | 157166 | 1412 |
| Swiss Re AG  | 6155 | 1064 |
| Kasikornbank PCL, foreign registered shares  | 222300 | 1052 |
| BDO Unibank, Inc.  | 303450 | 823 |
| Bank of Baroda  | 248531 | 721 |
| Haci Omer Sabanci Holding AS  | 277306 | 624 |
| Asia Commercial Joint Stock Bank  | 708170 | 578 |
| Sberbank of Russia PJSC <sup>(b)</sup>  | 2662164 | — <br><sup>(c)</sup><br>|
|  |  | 707247 |
| **Information technology 18.17%** |  |  |
| Taiwan Semiconductor Manufacturing Co., Ltd.  | 6705769 | 243329 |
| Taiwan Semiconductor Manufacturing Co., Ltd. (ADR)  | 11746 | 2660 |
| Microsoft Corp.  | 160306 | 79738 |
| SK hynix, Inc.  | 316700 | 68521 |
| Broadcom, Inc.  | 210647 | 58065 |
| NVIDIA Corp.  | 239839 | 37892 |
| ASML Holding NV  | 31681 | 25287 |
| ASML Holding NV (ADR)  | 2208 | 1770 |
| Cloudflare, Inc., Class A <sup>(a)</sup>  | 86459 | 16931 |
| Synopsys, Inc. <sup>(a)</sup>  | 30581 | 15678 |
| SAP SE  | 39474 | 12004 |
| SAP SE (ADR)  | 4295 | 1306 |
| Capgemini SE  | 61733 | 10548 |
| E Ink Holdings, Inc.  | 1334000 | 10092 |
| Keyence Corp.  | 24300 | 9760 |
| Tokyo Electron, Ltd.  | 47000 | 9034 |
| MediaTek, Inc.  | 200000 | 8558 |
| Apple, Inc.  | 30219 | 6200 |
| KLA Corp.  | 6801 | 6092 |
| Coforge, Ltd.  | 264597 | 5938 |
| Elite Material Co., Ltd. <sup>(a)</sup>  | 180992 | 5465 |
| Samsung Electronics Co., Ltd.  | 111167 | 4926 |
| eMemory Technology, Inc.  | 59000 | 4767 |
| Oracle Corp.  | 21311 | 4659 |
| Advantech Co., Ltd.  | 341000 | 3969 |
| HCL Technologies, Ltd.  | 168613 | 3399 |
| Globant SA <sup>(a)</sup>  | 36165 | 3285 |
| TDK Corp.  | 236800 | 2788 |
| Micron Technology, Inc.  | 21422 | 2640 |
| ASM International NV  | 3936 | 2519 |
| Credo Technology Group Holding, Ltd. <sup>(a)</sup>  | 26663 | 2469 |
| Tata Consultancy Services, Ltd.  | 60004 | 2422 |
| Xiaomi Corp., Class B <sup>(a)</sup>  | 174600 | 1333 |
| EPAM Systems, Inc. <sup>(a)</sup>  | 6651 | 1176 |
| Unity Software, Inc. <sup>(a)</sup>  | 46938 | 1136 |
| Canva, Inc. <sup>(a)(b)(d)</sup>  | 385 | 493 |
| Disco Corp.  | 1400 | 414 |
|  |  | 677263 |
| **Consumer discretionary 12.08%** |  |  |
| MercadoLibre, Inc. <sup>(a)</sup>  | 34697 | 90685 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **26** |

---

------

New World Fund (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Consumer discretionary (continued)** |  |  |
| Trip.com Group, Ltd. (ADR)  | 439599 | $25778 |
| Trip.com Group, Ltd.  | 403445 | 23436 |
| BYD Co., Ltd., Class A  | 402408 | 18640 |
| BYD Co., Ltd., Class H  | 835500 | 13038 |
| Midea Group Co., Ltd., Class A  | 2728768 | 27495 |
| LVMH Moet Hennessy-Louis Vuitton SE  | 37495 | 19637 |
| Eicher Motors, Ltd.  | 260810 | 17202 |
| Galaxy Entertainment Group, Ltd.  | 3645000 | 16182 |
| Meituan, Class B <sup>(a)</sup>  | 836900 | 13359 |
| Alibaba Group Holding, Ltd.  | 651172 | 9108 |
| Alibaba Group Holding, Ltd. (ADR)  | 30817 | 3495 |
| Jumbo SA  | 364196 | 12570 |
| Compagnie Financiere Richemont SA, Class A  | 65071 | 12256 |
| H World Group, Ltd. (ADR)  | 316639 | 10741 |
| H World Group, Ltd.  | 244900 | 828 |
| Ferrari NV (EUR denominated)  | 20115 | 9859 |
| Maruti Suzuki India, Ltd.  | 58873 | 8512 |
| Titan Co., Ltd.  | 195971 | 8433 |
| TVS Motor Co., Ltd.  | 232931 | 7926 |
| Ryohin Keikaku Co., Ltd.  | 158500 | 7622 |
| adidas AG  | 28112 | 6555 |
| Amadeus IT Group SA, Class A, non-registered shares  | 64781 | 5455 |
| Hermes International  | 1896 | 5135 |
| Naspers, Ltd., Class N  | 16462 | 5129 |
| MakeMyTrip, Ltd. <sup>(a)</sup>  | 47364 | 4643 |
| Sands China, Ltd.  | 2207600 | 4595 |
| Booking Holdings, Inc.  | 791 | 4579 |
| PDD Holdings, Inc. (ADR) <sup>(a)</sup>  | 39455 | 4129 |
| Wynn Resorts, Ltd.  | 43313 | 4057 |
| Industria de Diseno Textil SA  | 73400 | 3820 |
| Tesla, Inc. <sup>(a)</sup>  | 11265 | 3578 |
| Shenzhou International Group Holdings, Ltd.  | 495900 | 3525 |
| Inchcape PLC  | 303859 | 3028 |
| Royal Caribbean Cruises, Ltd.  | 9211 | 2884 |
| Li Ning Co., Ltd.  | 1304655 | 2812 |
| YUM! Brands, Inc.  | 17671 | 2619 |
| Starbucks Corp.  | 27127 | 2486 |
| Aptiv Holdings, Ltd. <sup>(a)</sup>  | 35729 | 2437 |
| Vibra Energia SA  | 570400 | 2274 |
| Mahindra & Mahindra, Ltd.  | 60173 | 2233 |
| Marriott International, Inc., Class A  | 7554 | 2064 |
| Swiggy, Ltd. <sup>(a)</sup>  | 344328 | 1608 |
| Evolution AB  | 18493 | 1469 |
| Hilton Worldwide Holdings, Inc.  | 5460 | 1454 |
| ANTA Sports Products, Ltd.  | 118700 | 1429 |
| Tube Investments of India, Ltd.  | 36685 | 1330 |
| NIKE, Inc., Class B  | 18711 | 1329 |
| Renault SA  | 25328 | 1167 |
| Hyundai Mobis Co., Ltd.  | 5052 | 1074 |
| Compagnie Generale des Etablissements Michelin  | 28554 | 1061 |
| Shangri-La Asia, Ltd.  | 1774000 | 965 |
| Cyrela Brazil Realty SA, ordinary nominative shares  | 179166 | 862 |
| Pop Mart International Group, Ltd.  | 25000 | 849 |
| Hyundai Motor India, Ltd. <sup>(a)</sup>  | 32248 | 835 |
| ITC Hotels, Ltd. <sup>(a)</sup>  | 33979 | 88 |
|  |  | 450359 |
| **Industrials 11.08%** |  |  |
| Airbus SE, non-registered shares  | 259078 | 54096 |
| Rolls-Royce Holdings PLC  | 2326727 | 30903 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **27** | American Funds Insurance Series |

---

------

New World Fund (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Industrials (continued)** |  |  |
| International Container Terminal Services, Inc.  | 3894600 | $28416 |
| Rumo SA  | 5953921 | 20306 |
| Safran SA  | 58562 | 19032 |
| Copa Holdings SA, Class A  | 148121 | 16289 |
| Techtronic Industries Co., Ltd.  | 1363500 | 14990 |
| General Electric Co.  | 56239 | 14475 |
| Shenzhen Inovance Technology Co., Ltd., Class A  | 1505802 | 13569 |
| Hitachi, Ltd.  | 414600 | 12107 |
| BAE Systems PLC  | 464567 | 12030 |
| LS Electric Co., Ltd.  | 51458 | 11400 |
| Grupo Aeroportuario del Pacifico, SAB de CV, Class B  | 386440 | 8871 |
| Grupo Aeroportuario del Pacifico, SAB de CV, Class B (ADR)  | 6194 | 1422 |
| TransDigm Group, Inc.  | 6399 | 9731 |
| Mitsubishi Heavy Industries, Ltd.  | 368500 | 9238 |
| Localiza Rent a Car SA, ordinary nominative shares  | 1230526 | 9177 |
| Contemporary Amperex Technology Co., Ltd., Class A  | 259276 | 9126 |
| Daikin Industries, Ltd.  | 75700 | 8950 |
| Larsen & Toubro, Ltd.  | 209113 | 8948 |
| Uber Technologies, Inc. <sup>(a)</sup>  | 95102 | 8873 |
| Leonardo SpA  | 157004 | 8837 |
| Motiva Infraestrutura de Mobilidade SA  | 3342651 | 8484 |
| DSV A/S  | 33179 | 7973 |
| Siemens AG  | 29434 | 7546 |
| Jiangsu Hengli Hydraulic Co., Ltd., Class A  | 655664 | 6588 |
| Weichai Power Co., Ltd., Class A  | 1845700 | 3962 |
| Weichai Power Co., Ltd., Class H  | 947000 | 1923 |
| Wizz Air Holdings PLC <sup>(a)(e)</sup>  | 272591 | 4078 |
| IMCD NV  | 30258 | 4065 |
| Schneider Electric SE  | 14918 | 3968 |
| Carrier Global Corp.  | 52454 | 3839 |
| Aselan Elektronik Sanayi ve Ticaret AS  | 1006320 | 3811 |
| InPost SA <sup>(a)</sup>  | 216724 | 3600 |
| Ayala Corp.  | 336470 | 3405 |
| GT Capital Holdings, Inc.  | 239920 | 2445 |
| Bureau Veritas SA  | 67515 | 2302 |
| Hanwha Aerospace Co., Ltd.  | 2973 | 1868 |
| Ingersoll-Rand, Inc.  | 22177 | 1845 |
| Boeing Co. (The) <sup>(a)</sup>  | 8316 | 1742 |
| Grab Holdings, Ltd., Class A <sup>(a)</sup>  | 306584 | 1542 |
| GE Vernova, Inc.  | 2861 | 1514 |
| Epiroc AB, Class B  | 67124 | 1284 |
| SM Investments Corp.  | 70690 | 1094 |
| Airports of Thailand PCL, foreign registered shares  | 1080600 | 1007 |
| Legrand SA  | 7279 | 973 |
| Embraer SA  | 66072 | 937 |
| Haitian International Holdings, Ltd.  | 154146 | 401 |
|  |  | 412982 |
| **Communication services 9.75%** |  |  |
| Tencent Holdings, Ltd.  | 1173251 | 75178 |
| Meta Platforms, Inc., Class A  | 86453 | 63810 |
| Bharti Airtel, Ltd.  | 1701223 | 39865 |
| Bharti Airtel, Ltd., interim shares  | 51552 | 919 |
| NetEase, Inc.  | 1122300 | 30167 |
| Kanzhun, Ltd., Class A (ADR) <sup>(a)</sup>  | 1296931 | 23137 |
| MTN Group, Ltd.  | 2635868 | 20969 |
| Alphabet, Inc., Class C  | 66759 | 11842 |
| Alphabet, Inc., Class A  | 39299 | 6926 |
| Netflix, Inc. <sup>(a)</sup>  | 12144 | 16262 |
| KT Corp. (ADR)  | 662486 | 13766 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **28** |

---

------

New World Fund (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Communication services (continued)** |  |  |
| Tencent Music Entertainment Group, Class A (ADR)  | 602261 | $11738 |
| America Movil, SAB de CV, Class B (ADR)  | 539303 | 9675 |
| True Corp. PCL, foreign registered shares <sup>(a)</sup>  | 19498986 | 6670 |
| True Corp. PCL, nonvoting depositary receipts <sup>(a)</sup>  | 3864400 | 1322 |
| Telkom Indonesia (Persero) Tbk PT, Class B  | 34179000 | 5853 |
| Sea, Ltd., Class A (ADR) <sup>(a)</sup>  | 33685 | 5388 |
| TIM SA  | 1320002 | 5357 |
| Orange  | 301138 | 4581 |
| Baidu, Inc., Class A (ADR) <sup>(a)</sup>  | 48302 | 4142 |
| Indus Towers, Ltd. <sup>(a)</sup>  | 366083 | 1798 |
| Singapore Telecommunications, Ltd.  | 557100 | 1674 |
| Kuaishou Technology, Class B <sup>(a)</sup>  | 151800 | 1224 |
| JCDecaux SE  | 55457 | 1013 |
|  |  | 363276 |
| **Health care 6.12%** |  |  |
| Novo Nordisk AS, Class B  | 641758 | 44542 |
| Max Healthcare Institute, Ltd.  | 2750648 | 40926 |
| Eli Lilly and Co.  | 40343 | 31449 |
| Laurus Labs, Ltd.  | 1869207 | 15799 |
| AstraZeneca PLC  | 77534 | 10770 |
| Thermo Fisher Scientific, Inc.  | 23722 | 9618 |
| Jiangsu Hengrui Pharmaceutical Co., Ltd., Class A  | 1008388 | 7304 |
| Jiangsu Hengrui Pharmaceutical Co., Ltd., Class H <sup>(a)</sup>  | 260000 | 1782 |
| Rede D'Or Sao Luiz SA  | 1270637 | 8284 |
| BeOne Medicines, Ltd. (ADR) <sup>(a)</sup>  | 30564 | 7399 |
| BeOne Medicines, Ltd. <sup>(a)</sup>  | 36200 | 681 |
| Innovent Biologics, Inc. <sup>(a)</sup>  | 675873 | 6750 |
| Zai Lab, Ltd. (ADR) <sup>(a)(e)</sup>  | 174660 | 6108 |
| Abbott Laboratories  | 44758 | 6088 |
| EssilorLuxottica SA  | 15989 | 4386 |
| Danaher Corp.  | 18681 | 3690 |
| Mankind Pharma, Ltd. <sup>(a)</sup>  | 116150 | 3142 |
| OdontoPrev SA  | 1320175 | 2848 |
| Revvity, Inc.  | 24914 | 2410 |
| bioMerieux SA  | 16481 | 2279 |
| Teva Pharmaceutical Industries, Ltd. (ADR) <sup>(a)</sup>  | 133206 | 2232 |
| Lupin, Ltd.  | 85261 | 1927 |
| WuXi AppTec Co., Ltd., Class H  | 154400 | 1547 |
| Alcon, Inc.  | 17457 | 1544 |
| Mettler-Toledo International, Inc. <sup>(a)</sup>  | 1181 | 1387 |
| Asahi Intecc Co., Ltd.  | 71500 | 1134 |
| Medtronic PLC  | 12711 | 1108 |
| Wuxi Biologics (Cayman), Inc. <sup>(a)</sup>  | 240500 | 786 |
| CanSino Biologics, Inc., Class H <sup>(a)</sup>  | 35921 | 158 |
|  |  | 228078 |
| **Consumer staples 6.01%** |  |  |
| Kweichow Moutai Co., Ltd., Class A  | 175970 | 34615 |
| Nestle SA  | 195460 | 19419 |
| ITC, Ltd.  | 3337250 | 16206 |
| Dino Polska SA, non-registered shares <sup>(a)</sup>  | 88026 | 12846 |
| Arca Continental, SAB de CV  | 1023525 | 10818 |
| Carlsberg A/S, Class B  | 73053 | 10351 |
| JBS NV (BDR) <sup>(a)</sup>  | 649875 | 9355 |
| Avenue Supermarts, Ltd. <sup>(a)</sup>  | 164225 | 8373 |
| Anheuser-Busch InBev SA/NV  | 110064 | 7551 |
| KT&G Corp.  | 73530 | 6957 |
| Shoprite Holdings, Ltd.  | 411098 | 6431 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **29** | American Funds Insurance Series |

---

------

New World Fund (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Consumer staples (continued)** |  |  |
| Tsingtao Brewery Co., Ltd., Class H  | 950634 | $6206 |
| Ajinomoto Co., Inc.  | 220098 | 5975 |
| Varun Beverages, Ltd.  | 1109686 | 5920 |
| Monster Beverage Corp. <sup>(a)</sup>  | 94046 | 5891 |
| Philip Morris International, Inc.  | 32137 | 5853 |
| L'Oreal SA, non-registered shares  | 12555 | 5370 |
| Constellation Brands, Inc., Class A  | 32052 | 5214 |
| United Spirits, Ltd.  | 271676 | 4524 |
| Raia Drogasil SA, ordinary nominative shares  | 1609884 | 4480 |
| British American Tobacco PLC  | 90968 | 4324 |
| Masan Group Corp. <sup>(a)</sup>  | 1415200 | 4161 |
| Budweiser Brewing Co., APAC, Ltd. <sup>(e)</sup>  | 3732500 | 3695 |
| BBB Foods, Inc., Class A <sup>(a)</sup>  | 125631 | 3488 |
| Mondelez International, Inc., Class A  | 39313 | 2651 |
| Danone SA  | 26928 | 2200 |
| Kimberly-Clark de Mexico, SAB de CV, Class A, ordinary participation certificates  | 1143368 | 2092 |
| WH Group, Ltd.  | 2142000 | 2060 |
| Godrej Consumer Products, Ltd.  | 140237 | 1927 |
| Coca-Cola Co.  | 25766 | 1823 |
| Dabur India, Ltd.  | 279582 | 1582 |
| Chongqing Brewery Co., Ltd., Class A  | 142300 | 1094 |
| JD Health International, Inc. <sup>(a)</sup>  | 107650 | 590 |
|  |  | 224042 |
| **Materials 4.92%** |  |  |
| First Quantum Minerals, Ltd. <sup>(a)</sup>  | 1714836 | 30462 |
| Linde PLC  | 40288 | 18902 |
| Freeport-McMoRan, Inc.  | 420670 | 18236 |
| Vale SA, ordinary nominative shares  | 1001048 | 9701 |
| Vale SA (ADR), ordinary nominative shares  | 724393 | 7034 |
| Barrick Mining Corp.  | 624702 | 13006 |
| APL Apollo Tubes, Ltd.  | 562052 | 11398 |
| Glencore PLC  | 2517627 | 9801 |
| Amcor PLC (CDI)  | 857203 | 8011 |
| Grupo Mexico, SAB de CV, Series B  | 1305403 | 7907 |
| BASF SE  | 116745 | 5756 |
| Sika AG  | 19448 | 5280 |
| Anhui Conch Cement Co., Ltd., Class H  | 1677500 | 4265 |
| Nutrien, Ltd. (CAD denominated)  | 71990 | 4195 |
| Southern Copper Corp.  | 34299 | 3470 |
| Impala Platinum Holdings, Ltd. <sup>(a)</sup>  | 303087 | 2721 |
| Fresnillo PLC  | 134845 | 2665 |
| Valterra Platinum, Ltd. (ZAR denominated)  | 59708 | 2665 |
| Corteva, Inc.  | 34721 | 2588 |
| Ivanhoe Mines, Ltd., Class A <sup>(a)</sup>  | 343840 | 2583 |
| Wheaton Precious Metals Corp. (CAD denominated)  | 27361 | 2460 |
| Loma Negra Compania Industrial Argentina SA (ADR) <sup>(a)</sup>  | 212030 | 2326 |
| SRF, Ltd.  | 48298 | 1826 |
| Asian Paints, Ltd.  | 63269 | 1727 |
| Akzo Nobel NV  | 20703 | 1449 |
| Arkema SA  | 14823 | 1092 |
| CEMEX, SAB de CV (ADR), ordinary participation certificates, units  | 98397 | 682 |
| Antofagasta PLC  | 20116 | 500 |
| Albemarle Corp.  | 5932 | 372 |
| Shin-Etsu Chemical Co., Ltd.  | 9800 | 325 |
| Gerdau SA (ADR)  | 55796 | 163 |
| Alrosa PJSC <sup>(b)</sup>  | 1123215 | — <br><sup>(c)</sup><br>|
|  |  | 183568 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **30** |

---

------

New World Fund (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Energy 2.23%** |  |  |
| Reliance Industries, Ltd.  | 1019587 | $17840 |
| TotalEnergies SE  | 245605 | 15073 |
| Adnoc Gas PLC  | 11725982 | 10920 |
| ADNOC Drilling Co. PJSC  | 6155841 | 9554 |
| Vista Energy, SAB de CV, Class A (ADR) <sup>(a)</sup>  | 184959 | 8843 |
| Galp Energia, SGPS, SA, Class B  | 243804 | 4472 |
| Petroleo Brasileiro SA (Petrobras) (ADR), ordinary nominative shares  | 344847 | 4314 |
| Cheniere Energy, Inc.  | 17049 | 4152 |
| Shell PLC (GBP denominated)  | 92430 | 3240 |
| Chevron Corp.  | 15884 | 2274 |
| Schlumberger NV  | 61022 | 2063 |
| Borr Drilling, Ltd. <sup>(a)</sup>  | 149981 | 274 |
| Rosneft Oil Co. PJSC <sup>(b)</sup>  | 588661 | — <br><sup>(c)</sup><br>|
|  |  | 83019 |
| **Real estate 1.71%** |  |  |
| Lodha Developers, Ltd.  | 2312205 | 37320 |
| China Resources Mixc Lifestyle Services, Ltd.  | 1957600 | 9464 |
| China Resources Land, Ltd.  | 1274000 | 4317 |
| Emaar Properties PJSC  | 1115023 | 4129 |
| CK Asset Holdings, Ltd.  | 741500 | 3268 |
| KE Holdings, Inc., Class A (ADR)  | 128112 | 2273 |
| SM Prime Holdings, Inc.  | 5013400 | 2087 |
| Longfor Group Holdings, Ltd.  | 336846 | 397 |
| Fibra Uno Administracion REIT, SA de CV  | 214685 | 297 |
| ALLOS SA, ordinary nominative shares  | 60765 | 254 |
|  |  | 63806 |
| **Utilities 1.39%** |  |  |
| Equatorial Energia SA, ordinary nominative shares  | 1522946 | 10080 |
| Companhia de Saneamento Basico do Estado de Sao Paulo-SABESP, ordinary nominative shares  | 415797 | 9117 |
| Gulf Development PCL  | 7550993 | 9017 |
| Power Grid Corporation of India, Ltd.  | 1889109 | 6606 |
| SembCorp Industries, Ltd.  | 1194800 | 6437 |
| Torrent Power, Ltd.  | 240398 | 4114 |
| Engie SA  | 156238 | 3667 |
| CPFL Energia SA  | 254682 | 1915 |
| AES Corp.  | 74426 | 783 |
|  |  | 51736 |
| **Total common stocks** (cost: $2,102,932,000) |  | 3445376 |
| Preferred securities 0.74% |  |  |
| **Financials 0.32%** |  |  |
| Itau Unibanco Holding SA (ADR), preferred nominative shares  | 1293179 | 8781 |
| Itau Unibanco Holding SA, preferred nominative shares  | 444376 | 3022 |
|  |  | 11803 |
| **Real estate 0.23%** |  |  |
| QuintoAndar, Ltd., Series E, preference shares <sup>(a)(b)(d)</sup>  | 32657 | 6965 |
| QuintoAndar, Ltd., Series E-1, preference shares <sup>(a)(b)(d)</sup>  | 8400 | 1791 |
|  |  | 8756 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **31** | American Funds Insurance Series |

---

------

New World Fund (continued)

---

| | | |
|:---|:---|:---|
| Preferred securities (continued) | Shares | Value<br> (000)<br>|
| **Information technology 0.14%** |  |  |
| Samsung Electronics Co., Ltd., nonvoting preferred shares  | 140739 | $5162 |
| Canva, Inc., Series A, noncumulative preferred shares <sup>(a)(b)(d)</sup>  | 34 | 44 |
| Canva, Inc., Series A-3, noncumulative preferred shares <sup>(a)(b)(d)</sup>  | 1 | 1 |
|  |  | 5207 |
| **Consumer discretionary 0.05%** |  |  |
| Dr. Ing. h.c. F. Porsche AG, nonvoting non-registered preferred shares  | 35578 | 1758 |
| Getir BV, Series D, preferred shares <sup>(a)(b)(d)</sup>  | 7768 | — <br><sup>(c)</sup><br>|
|  |  | 1758 |
| **Total preferred securities** (cost: $28,667,000) |  | 27524 |
| Rights & warrants 0.00% |  |  |
| **Industrials 0.00%** |  |  |
| Hanwha Aerospace Co., Ltd., rights, expire 7/2/2025 <sup>(a)</sup>  | 215 | 26 |
| **Total rights & warrants** (cost: $0) |  | 26 |
| Convertible stocks 0.00% |  |  |
| **Materials 0.00%** |  |  |
| Albemarle Corp., Class A, cumulative convertible preferred depositary shares, 7.25% 3/1/2027  | 5700 | 183 |
| **Total convertible stocks** (cost: $286,000) | **Total convertible stocks** (cost: $286,000) | 183 |
| Bonds, notes & other debt instruments 3.42% | Principal amount<br> (000)<br>|  |
| **Bonds & notes of governments & government agencies outside the U.S. 3.03%** | **Bonds & notes of governments & government agencies outside the U.S. 3.03%** | **Bonds & notes of governments & government agencies outside the U.S. 3.03%** |
| Abu Dhabi (Emirate of) 1.70% 3/2/2031 <sup>(f)</sup>  | USD200 | 176 |
| Abu Dhabi (Emirate of) 5.50% 4/30/2054  | 905 | 903 |
| Angola (Republic of) 9.50% 11/12/2025  | 400 | 402 |
| Angola (Republic of) 8.25% 5/9/2028  | 600 | 566 |
| Angola (Republic of) 8.00% 11/26/2029 <sup>(f)</sup>  | 445 | 405 |
| Angola (Republic of) 8.75% 4/14/2032 <sup>(f)</sup>  | 280 | 248 |
| Argentine Republic 4.125% 7/9/2035 (4.75% on 7/9/2027) <sup>(g)</sup>  | 937 | 633 |
| Argentine Republic 5.00% 1/9/2038  | 601 | 430 |
| Brazil (Federative Republic of) 10.00% 1/1/2027  | BRL16,913 | 2954 |
| Brazil (Federative Republic of) 6.00% 5/15/2027 <sup>(h)</sup>  | 26460 | 4646 |
| Brazil (Federative Republic of) 10.00% 1/1/2031  | 11625 | 1879 |
| Brazil (Federative Republic of) 6.00% 8/15/2032 <sup>(h)</sup>  | 3284 | 559 |
| Brazil (Federative Republic of) 10.00% 1/1/2033  | 27330 | 4280 |
| Brazil (Federative Republic of) 10.00% 1/1/2035  | 71700 | 10893 |
| Brazil (Federative Republic of) 6.00% 8/15/2050 <sup>(h)</sup>  | 7526 | 1232 |
| Chile (Republic of) 5.30% 11/1/2037  | CLP425,000 | 444 |
| Chile (Republic of) 4.34% 3/7/2042  | USD350 | 304 |
| China (People's Republic of), Series INBK, 2.27% 5/25/2034  | CNY5,610 | 821 |
| China (People's Republic of), Series INBK, 3.72% 4/12/2051  | 23270 | 4429 |
| China (People's Republic of), Series INBK, 3.12% 10/25/2052  | 1250 | 218 |
| China (People's Republic of), Series INBK, 2.57% 5/20/2054  | 4480 | 714 |
| Colombia (Republic of) 3.25% 4/22/2032  | USD700 | 555 |
| Colombia (Republic of) 8.50% 4/25/2035  | 400 | 416 |
| Colombia (Republic of) 8.00% 11/14/2035  | 200 | 201 |
| Colombia (Republic of) 5.20% 5/15/2049  | 755 | 508 |
| Colombia (Republic of), Series B, 7.00% 3/26/2031  | COP4,320,700 | 858 |
| Colombia (Republic of), Series B, 13.25% 2/9/2033  | 1734800 | 445 |
| Colombia (Republic of), Series B, 7.25% 10/18/2034  | 1223500 | 219 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **32** |

---

------

New World Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Bonds & notes of governments & government agencies outside the U.S. (continued)** | **Bonds & notes of governments & government agencies outside the U.S. (continued)** | **Bonds & notes of governments & government agencies outside the U.S. (continued)** |
| Colombia (Republic of), Series UVR, 3.75% 2/25/2037 <sup>(h)</sup>  | COP6,870 | $515 |
| Colombia (Republic of), Series B, 9.25% 5/28/2042  | 4146300 | 780 |
| Colombia (Republic of), Series B, 7.25% 10/26/2050  | 4713300 | 693 |
| Cote d'Ivoire (Republic of) 4.875% 1/30/2032  | EUR150 | 159 |
| Czech Republic 1.95% 7/30/2037  | CZK17,900 | 659 |
| Dominican Republic 8.625% 4/20/2027 <sup>(f)</sup>  | USD383 | 398 |
| Dominican Republic 5.50% 2/22/2029 <sup>(f)</sup>  | 275 | 274 |
| Dominican Republic 7.05% 2/3/2031 <sup>(f)</sup>  | 150 | 158 |
| Dominican Republic 5.875% 1/30/2060  | 885 | 745 |
| Egypt (Arab Republic of) 25.318% 8/13/2027  | EGP26,845 | 553 |
| Egypt (Arab Republic of) 6.375% 4/11/2031  | EUR100 | 109 |
| Egypt (Arab Republic of) 8.50% 1/31/2047  | USD400 | 325 |
| Egypt (Arab Republic of) 8.875% 5/29/2050  | 755 | 630 |
| Egypt (Arab Republic of) 8.15% 11/20/2059 <sup>(f)</sup>  | 500 | 386 |
| Gabonese Republic 7.00% 11/24/2031  | 500 | 399 |
| Honduras (Republic of) 6.25% 1/19/2027  | 875 | 877 |
| Honduras (Republic of) 5.625% 6/24/2030 <sup>(f)</sup>  | 281 | 269 |
| Hungary (Republic of) 6.25% 9/22/2032 <sup>(f)</sup>  | 330 | 345 |
| Hungary (Republic of), Series A, 2.00% 5/23/2029  | HUF255,550 | 643 |
| India (Republic of) 7.32% 11/13/2030  | INR3,480 | 43 |
| India (Republic of) 6.54% 1/17/2032  | 15620 | 185 |
| India (Republic of) 7.18% 7/24/2037  | 176070 | 2151 |
| India (Republic of) 7.09% 8/5/2054  | 280280 | 3303 |
| Indonesia (Republic of) 6.625% 2/17/2037  | USD300 | 334 |
| Indonesia (Republic of) 7.125% 8/15/2040  | IDR7,421,000 | 464 |
| Indonesia (Republic of), Series 82, 7.00% 9/15/2030  | 9590000 | 608 |
| Indonesia (Republic of), Series 91, 6.375% 4/15/2032  | 317000 | 19 |
| Indonesia (Republic of), Series 96, 7.00% 2/15/2033  | 16818000 | 1060 |
| Indonesia (Republic of), Series FR100, 6.625% 2/15/2034  | 29553000 | 1819 |
| Indonesia (Republic of), Series 80, 7.50% 6/15/2035  | 7953000 | 518 |
| Kazakhstan (Republic of) 5.50% 7/1/2037 <sup>(f)</sup>  | USD945 | 951 |
| Kenya (Republic of) 6.30% 1/23/2034  | 645 | 523 |
| Kenya (Republic of) 9.50% 3/5/2036 <sup>(f)</sup>  | 555 | 524 |
| Kenya (Republic of) 9.50% 3/5/2036  | 330 | 312 |
| Malaysia (Federation of) 4.28% 3/23/2054  | MYR1,255 | 311 |
| Malaysia (Federation of), Series 0419, 3.828% 7/5/2034  | 8766 | 2132 |
| Malaysia (Federation of), Series 0418, 4.893% 6/8/2038  | 616 | 164 |
| Malaysia (Federation of), Series 0124, 4.054% 4/18/2039  | 3245 | 801 |
| Malaysia (Federation of), Series 0519, 3.757% 5/22/2040  | 2200 | 524 |
| Malaysia (Federation of), Series 0519, 4.638% 11/15/2049  | 1030 | 270 |
| Malaysia (Federation of), Series 0120, 4.065% 6/15/2050  | 2776 | 666 |
| Malaysia (Federation of), Series 022, 5.357% 5/15/2052  | 989 | 286 |
| MFB Magyar Fejlesztesi Bank Zartkoruen Mukodo Reszvenytarsasag 6.50% 6/29/2028  | USD490 | 508 |
| MFB Magyar Fejlesztesi Bank Zartkoruen Mukodo Reszvenytarsasag 4.375% 6/27/2030  | EUR340 | 406 |
| Morocco (Kingdom of) 5.95% 3/8/2028 <sup>(f)</sup>  | USD255 | 262 |
| Morocco (Kingdom of) 3.875% 4/2/2029  | EUR625 | 747 |
| Morocco (Kingdom of) 4.75% 4/2/2035  | 200 | 236 |
| Mozambique (Republic of) 9.00% 9/15/2031  | USD540 | 447 |
| Nigeria (Republic of) 7.625% 11/21/2025 <sup>(f)</sup>  | 358 | 361 |
| Nigeria (Republic of) 7.625% 11/21/2025  | 342 | 345 |
| Nigeria (Republic of) 18.50% 2/21/2031  | NGN730,360 | 480 |
| Oman (Sultanate of) 6.00% 8/1/2029  | USD715 | 751 |
| Oman (Sultanate of) 6.75% 1/17/2048  | 485 | 502 |
| Panama (Republic of) 3.75% 4/17/2026  | 100 | 99 |
| Panama (Republic of) 7.875% 3/1/2057  | 600 | 612 |
| Paraguay (Republic of) 4.95% 4/28/2031  | 320 | 319 |
| Peru (Republic of) 3.00% 1/15/2034  | 225 | 190 |
| Peru (Republic of) 6.55% 3/14/2037  | 360 | 392 |
| Peru (Republic of) 2.78% 12/1/2060  | 100 | 54 |
| PETRONAS Capital, Ltd. 4.55% 4/21/2050 <sup>(f)</sup>  | 400 | 339 |
| Philippines (Republic of) 6.375% 10/23/2034  | 145 | 160 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **33** | American Funds Insurance Series |

---

------

New World Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Bonds & notes of governments & government agencies outside the U.S. (continued)** | **Bonds & notes of governments & government agencies outside the U.S. (continued)** | **Bonds & notes of governments & government agencies outside the U.S. (continued)** |
| Philippines (Republic of) 3.95% 1/20/2040  | USD500 | $432 |
| Poland (Republic of) 5.75% 4/25/2029  | PLN2,410 | 693 |
| Poland (Republic of) 4.875% 10/4/2033  | USD560 | 557 |
| Poland (Republic of), Series 1033, 6.00% 10/25/2033  | PLN9,440 | 2732 |
| Poland (Republic of), Series 1034, 5.00% 10/25/2034  | 6920 | 1862 |
| Romania 2.00% 1/28/2032  | EUR950 | 910 |
| Romania 5.25% 5/30/2032  | 450 | 523 |
| Romania 5.25% 5/30/2032  | 230 | 267 |
| Romania 2.00% 4/14/2033  | 300 | 271 |
| Romania 5.625% 5/30/2037  | 390 | 434 |
| Romania 2.875% 4/13/2042  | 335 | 246 |
| Saudi Arabia (Kingdom of) 5.75% 1/16/2054  | USD2,300 | 2195 |
| Senegal (Republic of) 4.75% 3/13/2028  | EUR600 | 560 |
| Senegal (Republic of) 4.75% 3/13/2028  | 200 | 187 |
| Sharjah (Emirate of) 4.625% 2/13/2032  | 651 | 769 |
| Sharjah Sukuk Programme, Ltd. 5.433% 4/17/2035 <sup>(f)</sup>  | USD1,010 | 1007 |
| South Africa (Republic of) 7.10% 11/19/2036 <sup>(f)</sup>  | 200 | 199 |
| South Africa (Republic of) 11.625% 3/31/2053  | ZAR22,337 | 1324 |
| South Africa (Republic of), Series R-213, 7.00% 2/28/2031  | 482 | 25 |
| South Africa (Republic of), Series R-2032, 8.25% 3/31/2032  | 11495 | 621 |
| South Africa (Republic of), Series R-2035, 8.875% 2/28/2035  | 17388 | 920 |
| South Africa (Republic of), Series R-2040, 9.00% 1/31/2040  | 32571 | 1593 |
| South Africa (Republic of), Series R-2044, 8.75% 1/31/2044  | 15670 | 720 |
| Thailand (Kingdom of) 3.45% 6/17/2043  | THB40,963 | 1526 |
| Turkey (Republic of) 26.20% 10/5/2033  | TRY41,134 | 955 |
| Turkey (Republic of), Series 5Y, 12.60% 10/1/2025  | 35060 | 826 |
| Turkey (Republic of), Series 5Y, 9.875% 1/15/2028  | USD200 | 219 |
| Turkey (Republic of), Series 5Y, 17.30% 7/19/2028  | TRY23,445 | 417 |
| Turkey (Republic of), Series 30Y, 11.875% 1/15/2030  | USD500 | 619 |
| Turkey (Republic of), Series 30Y, 4.875% 4/16/2043  | 1710 | 1208 |
| United Mexican States 6.875% 5/13/2037  | 610 | 638 |
| United Mexican States 4.75% 3/8/2044  | 800 | 632 |
| United Mexican States 3.75% 4/19/2071  | 200 | 114 |
| United Mexican States, Series M20, 8.50% 5/31/2029  | MXN29,350 | 1560 |
| United Mexican States, Series M, 7.75% 5/29/2031  | 56500 | 2871 |
| United Mexican States, Series M, 7.50% 5/26/2033  | 51184 | 2493 |
| United Mexican States, Series M, 7.75% 11/23/2034  | 38324 | 1864 |
| United Mexican States, Series M30, 8.50% 11/18/2038  | 21600 | 1059 |
| United Mexican States, Series M, 8.00% 7/31/2053  | 26949 | 1182 |
| United Mexican States, Series S, 4.00% 10/29/2054 <sup>(h)</sup>  | 14702 | 678 |
| Venezuela (Bolivarian Republic of) 7.00% 12/1/2018 <sup>(i)</sup>  | USD75 | 11 |
| Venezuela (Bolivarian Republic of) 7.75% 10/13/2019 <sup>(i)</sup>  | 930 | 138 |
| Venezuela (Bolivarian Republic of) 6.00% 12/9/2020 <sup>(i)</sup>  | 805 | 113 |
| Venezuela (Bolivarian Republic of) 9.00% 5/7/2023 <sup>(i)</sup>  | 800 | 129 |
| Venezuela (Bolivarian Republic of) 8.25% 10/13/2024 <sup>(i)</sup>  | 180 | 30 |
| Venezuela (Bolivarian Republic of) 9.25% 5/7/2028  | 230 | 41 |
| Venezuela (Bolivarian Republic of) 7.00% 3/31/2038  | 65 | 11 |
|  |  | 112814 |
| **Corporate bonds, notes & loans 0.39%** | **Corporate bonds, notes & loans 0.39%** | **Corporate bonds, notes & loans 0.39%** |
| **Energy 0.09%** |  |  |
| GreenSaif Pipelines Bidco SARL 5.853% 2/23/2036 <sup>(f)</sup>  | 410 | 415 |
| Oleoducto Central SA 4.00% 7/14/2027 <sup>(f)</sup>  | 255 | 249 |
| Petroleos Mexicanos 6.49% 1/23/2027  | 175 | 174 |
| Petroleos Mexicanos 5.95% 1/28/2031  | 1210 | 1095 |
| PTTEP Treasury Center Co., Ltd. 2.993% 1/15/2030  | 200 | 187 |
| Sinopec Group Overseas Development (2018), Ltd. 3.10% 1/8/2051 <sup>(f)</sup>  | 430 | 310 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **34** |

---

------

New World Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Energy (continued)** |  |  |
| Transportadora de Gas del Sur SA 8.50% 7/24/2031 <sup>(f)</sup>  | USD250 | $263 |
| Vista Energy Argentina SAU 7.625% 12/10/2035 <sup>(f)</sup>  | 390 | 379 |
| YPF SA 8.25% 1/17/2034 <sup>(f)</sup>  | 335 | 336 |
|  |  | 3408 |
| **Communication services 0.07%** |  |  |
| America Movil, SAB de CV, 10.125% 1/22/2029  | MXN13,710 | 753 |
| America Movil, SAB de CV, 9.50% 1/27/2031  | 24000 | 1283 |
| PLDT, Inc. 2.50% 1/23/2031  | USD210 | 189 |
| Tencent Holdings, Ltd. 3.24% 6/3/2050 <sup>(f)</sup>  | 380 | 258 |
|  |  | 2483 |
| **Consumer discretionary 0.04%** |  |  |
| Alibaba Group Holding, Ltd. 3.15% 2/9/2051  | 410 | 266 |
| Meituan 3.05% 10/28/2030 <sup>(f)</sup>  | 400 | 369 |
| Melco Resorts Finance, Ltd. 7.625% 4/17/2032 <sup>(f)</sup>  | 345 | 349 |
| MercadoLibre, Inc. 3.125% 1/14/2031  | 200 | 180 |
| Sands China, Ltd. 4.375% 6/18/2030  | 220 | 211 |
| Wynn Macau, Ltd. 5.625% 8/26/2028  | 260 | 256 |
|  |  | 1631 |
| **Utilities 0.04%** |  |  |
| Aegea Finance SARL 9.00% 1/20/2031 <sup>(f)</sup>  | 275 | 292 |
| AES Panama Generation Holdings, SRL 4.375% 5/31/2030 <sup>(f)</sup>  | 264 | 241 |
| Empresas Publicas de Medellin ESP 4.25% 7/18/2029 <sup>(f)</sup>  | 412 | 381 |
| Greenko Dutch BV 3.85% 3/29/2026 <sup>(f)</sup>  | 176 | 173 |
| Greenko Dutch BV 3.85% 3/29/2026  | 176 | 173 |
| San Miguel Global Power Holdings Corp. 8.125% perpetual bonds (5-year UST Yield Curve Rate T <br> Note Constant Maturity + 6.404% on 3/2/2030) <sup>(g)</sup>  | 350 | 347 |
|  |  | 1607 |
| **Materials 0.04%** |  |  |
| Braskem Netherlands Finance BV 8.50% 1/12/2031 <sup>(f)</sup>  | 355 | 311 |
| CSN Resources SA 8.875% 12/5/2030 <sup>(f)</sup>  | 400 | 397 |
| PT Krakatau Posco 6.375% 6/11/2027  | 345 | 347 |
| Sasol Financing USA, LLC 8.75% 5/3/2029 <sup>(d)</sup>  | 520 | 515 |
|  |  | 1570 |
| **Financials 0.04%** |  |  |
| Bangkok Bank Public Co., Ltd. 3.733% 9/25/2034 (5-year UST Yield Curve Rate T Note Constant Maturity + <br> 1.90% on 9/25/2029) <sup>(g)</sup>  | 400 | 372 |
| BBVA Bancomer SA 8.45% 6/29/2038 (5-year UST Yield Curve Rate T Note Constant Maturity + 4.661% on <br> 6/29/2033) <sup>(f)(g)</sup>  | 340 | 360 |
| CMB International Leasing Management, Ltd. 2.75% 8/12/2030  | 300 | 277 |
| HSBC Holdings PLC 6.332% 3/9/2044 (USD-SOFR + 2.65% on 3/9/2043) <sup>(g)</sup>  | 400 | 430 |
|  |  | 1439 |
| **Industrials 0.03%** |  |  |
| IRB Infrastructure Developers, Ltd. 7.11% 3/11/2032 <sup>(f)</sup>  | 335 | 336 |
| LATAM Airlines Group SA 7.875% 4/15/2030 <sup>(f)</sup>  | 355 | 363 |
| Mexico City Airport Trust 4.25% 10/31/2026  | 200 | 196 |
|  |  | 895 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **35** | American Funds Insurance Series |

---

------

New World Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) |  | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Consumer staples 0.02%** | **Consumer staples 0.02%** |  |  |
| Health and Happiness (H&H) International Holdings, Ltd. 9.125% 7/24/2028  | Health and Happiness (H&H) International Holdings, Ltd. 9.125% 7/24/2028  | USD200 | $204 |
| NBM US Holdings, Inc. 7.00% 5/14/2026 <sup>(d)</sup>  | NBM US Holdings, Inc. 7.00% 5/14/2026 <sup>(d)</sup>  | 200 | 201 |
| NBM US Holdings, Inc. 6.625% 8/6/2029 <sup>(d)</sup>  | NBM US Holdings, Inc. 6.625% 8/6/2029 <sup>(d)</sup>  | 420 | 423 |
|  |  |  | 828 |
| **Health care 0.02%** | **Health care 0.02%** |  |  |
| Biocon Biologics Global PLC 6.67% 10/9/2029 <sup>(f)</sup>  | Biocon Biologics Global PLC 6.67% 10/9/2029 <sup>(f)</sup>  | 260 | 247 |
| Rede D'Or Finance SARL 4.50% 1/22/2030  | Rede D'Or Finance SARL 4.50% 1/22/2030  | 480 | 456 |
|  |  |  | 703 |
| **Total corporate bonds, notes & loans** | **Total corporate bonds, notes & loans** |  | 14564 |
| **Total bonds, notes & other debt instruments** (cost: $127,773,000) | **Total bonds, notes & other debt instruments** (cost: $127,773,000) |  | 127378 |
| Short-term securities 4.09% |  | Shares |  |
| **Money market investments 3.96%** | **Money market investments 3.96%** | **Money market investments 3.96%** | **Money market investments 3.96%** |
| Capital Group Central Cash Fund 4.35% <sup>(j)(k)</sup>  | Capital Group Central Cash Fund 4.35% <sup>(j)(k)</sup>  | 1476818 | 147681 |
| **Money market investments purchased with collateral from securities on loan 0.12%** | **Money market investments purchased with collateral from securities on loan 0.12%** | **Money market investments purchased with collateral from securities on loan 0.12%** | **Money market investments purchased with collateral from securities on loan 0.12%** |
| Invesco Short-Term Investments Trust – Government & Agency Portfolio, Institutional Class 4.26% <sup>(j)(l)</sup>  | Invesco Short-Term Investments Trust – Government & Agency Portfolio, Institutional Class 4.26% <sup>(j)(l)</sup>  | 4305789 | 4306 |
|  | Weighted<br> average yield<br> at acquisition<br>| Principal amount<br> (000)<br>|  |
| **Bills & notes of governments & government agencies outside the U.S. 0.01%** | **Bills & notes of governments & government agencies outside the U.S. 0.01%** | **Bills & notes of governments & government agencies outside the U.S. 0.01%** | **Bills & notes of governments & government agencies outside the U.S. 0.01%** |
| Egypt (Arab Republic of) 9/9/2025  | 21.357<br> %<br>| EGP11,900 | 228 |
| Egypt (Arab Republic of) 1/6/2026  | 19.531 | 12600 | 222 |
|  |  |  | 450 |
| **Total short-term securities** (cost: $152,427,000) | **Total short-term securities** (cost: $152,427,000) | **Total short-term securities** (cost: $152,427,000) | 152437 |
| **Total investment securities 100.68%** (cost: $2,412,085,000) | **Total investment securities 100.68%** (cost: $2,412,085,000) | **Total investment securities 100.68%** (cost: $2,412,085,000) | 3752924 |
| Other assets less liabilities (0.68)% | Other assets less liabilities (0.68)% |  | (25264)<br>|
| **Net assets 100.00%** | **Net assets 100.00%** |  | $3727660 |

---

**Futures contracts**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Contracts | Type | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value and <br>unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| 2 Year U.S. Treasury Note Futures | Short | 2 | 10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD(416)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(1)<br>|
| 5 Year Euro-Bobl Futures | Short | 14 | 9/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1941)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 |
| 5 Year U.S. Treasury Note Futures | Short | 3 | 10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (327)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3)<br>|
| 10 Year Euro-Bund Futures | Short | 15 | 9/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2300)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12 |
| 10 Year Ultra U.S. Treasury Note Futures | Long | 18 | 9/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **36** |

---

------

New World Fund (continued)

**Futures contracts** (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Contracts | Type | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of<br> contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration<br> date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional<br> amount<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value and<br> unrealized<br> appreciation<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation)<br> at 6/30/2025<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| 20 Year U.S. Treasury Bond Futures | Long | 1 | 9/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $4 |
| 30 Year Ultra U.S. Treasury Bond Futures | Long | 1 | 9/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 119 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $61 |

---

**Forward currency contracts**

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Contract amount | Contract amount | Contract amount | Contract amount | Counterparty | &nbsp;&nbsp; Settlement <br>date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| Currency purchased <br>(000) | Currency purchased <br>(000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Currency sold <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Currency sold <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) | Counterparty | &nbsp;&nbsp; Settlement <br>date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| CNH | 6810 | USD | 952 | Standard Chartered Bank | 7/9/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— <br><sup>(c)</sup><br>|
| USD | 471 | MYR | 1995 | BNP Paribas | 7/9/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2)<br>|
| INR | 1695 | USD | 20 | Standard Chartered Bank | 7/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(c)</sup><br>|
| USD | 962 | EUR | 839 | Standard Chartered Bank | 7/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (28)<br>|
| EUR | 490 | USD | 560 | BNP Paribas | 7/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17 |
| MXN | 1228 | USD | 64 | Citibank | 7/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| USD | 64 | MXN | 1228 | Bank of New York Mellon | 7/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| THB | 39695 | USD | 1226 | Citibank | 7/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| USD | 297 | THB | 9665 | Citibank | 7/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2)<br>|
| CNH | 7185 | USD | 1003 | Citibank | 7/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 |
| USD | 1371 | ZAR | 24367 | Goldman Sachs | 7/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4)<br>|
| USD | 2447 | EUR | 2127 | Bank of America | 7/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (61)<br>|
| USD | 38 | IDR | 622415 | Citibank | 7/18/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(c)</sup><br>|
| USD | 861 | BRL | 4817 | Citibank | 7/18/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (21)<br>|
| USD | 717 | COP | 3027600 | Morgan Stanley | 7/18/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (22)<br>|
| USD | 47 | MYR | 201 | BNP Paribas | 7/21/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(c)</sup><br>|
| USD | 98 | PLN | 360 | Citibank | 7/21/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2)<br>|
| USD | 1285 | MYR | 5447 | JPMorgan Chase | 7/21/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (9)<br>|
| IDR | 3560000 | USD | 217 | HSBC Bank | 7/23/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 |
| EUR | 76 | USD | 88 | Morgan Stanley | 7/25/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 |
| INR | 12140 | USD | 141 | BNP Paribas | 7/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| USD | 98 | MXN | 1875 | Morgan Stanley | 7/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| CZK | 31590 | USD | 1496 | Citibank | 8/6/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10 |
| HUF | 348902 | USD | 1021 | HSBC Bank | 8/6/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 |
| CZK | 20855 | USD | 947 | Citibank | 8/27/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 49 |
| USD | 653 | ZAR | 11850 | Goldman Sachs | 8/27/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (14)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(78)<br>|

---

**Investments in affiliates** <sup>(k)</sup>

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>1/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>6/30/2025 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Short-term securities 3.96%** |  |  |  |  |  |  |  |
| **Money market investments 3.96%** |  |  |  |  |  |  |  |
| Capital Group Central Cash Fund 4.35% <sup>(j)</sup>  | $94686 | &nbsp;&nbsp; $320134 | &nbsp;&nbsp; $267116 | &nbsp;&nbsp; $(15)<br>| &nbsp;&nbsp; $(8)<br>| &nbsp;&nbsp; $147681 | &nbsp;&nbsp; $2879 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **37** | American Funds Insurance Series |

---

------

New World Fund (continued)

**Restricted securities** <sup>(d)</sup>

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Acquisition <br>date(s)<br>| Cost <br>(000)<br>| Value <br>(000)<br>| Percent <br>of net <br>assets<br>|
| QuintoAndar, Ltd., Series E, preference shares <sup>(a)(b)</sup> <br>| 5/26/2021 | $5258 | $6965 | 0.19<br> %<br>|
| QuintoAndar, Ltd., Series E-1, preference shares <sup>(a)(b)</sup> <br>| 12/20/2021 | 1716 | 1791 | 0.05 |
| NBM US Holdings, Inc. 6.625% 8/6/2029  | 7/8/2022  | 410 | 423 | 0.01 |
| NBM US Holdings, Inc. 7.00% 5/14/2026  | 5/16/2023 | 197 | 201 | 0.01 |
| Canva, Inc. <sup>(a)(b)</sup> <br>| 8/26/2021-11/4/2021 | 656 | 493 | 0.01 |
| Canva, Inc., Series A, noncumulative preferred shares <sup>(a)(b)</sup> <br>| 11/4/2021 | 58 | 44 | 0.00 <br><sup>(m)</sup><br>|
| Canva, Inc., Series A-3, noncumulative preferred shares <sup>(a)(b)</sup> <br>| 11/4/2021 | 2 | 1 | 0.00 <br><sup>(m)</sup><br>|
| Sasol Financing USA, LLC 8.75% 5/3/2029  | 1/24/2024  | 525 | 515 | 0.01 |
| Getir BV, Series D, preferred shares <sup>(a)(b)</sup> <br>| 5/27/2021 | 3500 | — <br><sup>(c</sup>)<br>| 0.00 <br><sup>(m)</sup><br>|
| **Total** |  | $12322 | $10433 | 0.28<br> %<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Security did not produce income during the last 12 months.

<sup>(b)</sup> Value determined using significant unobservable inputs.

<sup>(c)</sup> Amount less than one thousand.

<sup>(d)</sup> Restricted security, other than Rule 144A securities or commercial paper issued pursuant to Section 4(a)(2) of the Securities Act of 1933. The total value of all such restricted securities was $10,433,000, which represented 0.28% of the net assets of the fund. 

<sup>(e)</sup> All or a portion of this security was on loan. The total value of all such securities was $7,151,000, which represented 0.19% of the net assets of the fund. Refer to Note 5 for more information on securities lending. 

<sup>(f)</sup> Acquired in a transaction exempt from registration under Rule 144A or, for commercial paper, Section 4(a)(2) of the Securities Act of 1933. May be resold in the U.S. in transactions exempt from registration, normally to qualified institutional buyers. The total value of all such securities was $12,331,000, which represented 0.33% of the net assets of the fund. 

<sup>(g)</sup> Step bond; coupon rate may change at a later date.

<sup>(h)</sup> Index-linked bond whose principal amount moves with a government price index. 

<sup>(i)</sup> Scheduled interest and/or principal payment was not received.

<sup>(j)</sup> Rate represents the seven-day yield at 6/30/2025.

<sup>(k)</sup> Part of the same "group of investment companies" as the fund as defined under the Investment Company Act of 1940, as amended.

<sup>(l)</sup> Security purchased with cash collateral from securities on loan. Refer to Note 5 for more information on securities lending.

<sup>(m)</sup> Amount less than 0.01%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **Key to abbreviation(s)** |
| ADR = American Depositary Receipts |
| BDR = Brazilian Depositary Receipts |
| BRL = Brazilian reais |
| CAD = Canadian dollars |
| CDI = CREST Depository Interest  |
| CLP = Chilean pesos |
| CNH = Chinese yuan renminbi |
| CNY = Chinese yuan renminbi |
| COP = Colombian pesos |
| CZK = Czech korunas |
| EGP = Egyptian pounds |
| EUR = Euros |
| GBP = British pounds |
| GDR = Global Depositary Receipts |

---

---

| |
|:---|
| HUF = Hungarian forints |
| IDR = Indonesian rupiah |
| INR = Indian rupees |
| MXN = Mexican pesos |
| MYR = Malaysian ringgits |
| NGN = Nigerian naira |
| PLN = Polish zloty |
| REIT = Real Estate Investment Trust |
| SOFR = Secured Overnight Financing Rate |
| THB = Thai baht |
| TRY = Turkish lira |
| USD = U.S. dollars |
| UST = U.S. Treasury |
| ZAR = South African rand |

---

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **38** |

---

------

Washington Mutual Investors Fund

**Investment portfolio** June 30, 2025unaudited

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Common stocks 96.21% | Shares | Value<br> (000)<br>|
| **Information technology 22.40%** |  |  |
| Broadcom, Inc.  | 3180875 | $876808 |
| Microsoft Corp.  | 1477941 | 735143 |
| NVIDIA Corp.  | 1376003 | 217395 |
| Apple, Inc.  | 959455 | 196851 |
| KLA Corp.  | 125916 | 112788 |
| ASML Holding NV (ADR)  | 112763 | 90367 |
| Motorola Solutions, Inc.  | 149143 | 62709 |
| International Business Machines Corp.  | 210325 | 62000 |
| Accenture PLC, Class A  | 143216 | 42806 |
| SAP SE (ADR)  | 135006 | 41055 |
| Texas Instruments, Inc.  | 180420 | 37459 |
| Oracle Corp.  | 148419 | 32449 |
| Salesforce, Inc.  | 97867 | 26687 |
| Applied Materials, Inc.  | 100045 | 18315 |
| Synopsys, Inc. <sup>(a)</sup>  | 31950 | 16380 |
| ASM International NV (ADR)  | 21707 | 13913 |
| Adobe, Inc. <sup>(a)</sup>  | 34743 | 13441 |
| Intel Corp.  | 545538 | 12220 |
| TE Connectivity Public, Ltd. Co.  | 36193 | 6105 |
|  |  | 2614891 |
| **Financials 18.36%** |  |  |
| Marsh & McLennan Cos., Inc.  | 1137983 | 248808 |
| JPMorgan Chase & Co.  | 666861 | 193330 |
| BlackRock, Inc.  | 166414 | 174610 |
| Visa, Inc., Class A  | 471682 | 167471 |
| Mastercard, Inc., Class A  | 230802 | 129697 |
| Capital One Financial Corp.  | 603410 | 128381 |
| Chubb, Ltd.  | 393830 | 114100 |
| Arthur J. Gallagher & Co.  | 340478 | 108994 |
| Bank of America Corp.  | 2241655 | 106075 |
| Wells Fargo & Co.  | 1022919 | 81956 |
| Truist Financial Corp.  | 1752492 | 75340 |
| Morgan Stanley  | 514896 | 72528 |
| Apollo Asset Management, Inc.  | 429153 | 60884 |
| Citizens Financial Group, Inc.  | 1320920 | 59111 |
| KKR & Co., Inc.  | 432202 | 57496 |
| Blackstone, Inc.  | 338091 | 50572 |
| CME Group, Inc., Class A  | 134224 | 36995 |
| Aon PLC, Class A  | 100447 | 35835 |
| American Express Co.  | 111170 | 35461 |
| S&P Global, Inc.  | 66315 | 34967 |
| Progressive Corp.  | 128261 | 34228 |
| Brookfield Asset Management, Ltd., Class A  | 483694 | 26739 |
| Goldman Sachs Group, Inc.  | 29966 | 21208 |
| Citigroup, Inc.  | 233574 | 19882 |
| AXA SA (ADR)  | 365158 | 17936 |
| Carlyle Group, Inc. (The)  | 270192 | 13888 |
| PNC Financial Services Group, Inc.  | 68886 | 12842 |
| Intercontinental Exchange, Inc.  | 52537 | 9639 |
| Fifth Third Bancorp  | 178306 | 7334 |
| KeyCorp  | 397800 | 6930 |
|  |  | 2143237 |
| **Industrials 11.50%** |  |  |
| RTX Corp.  | 1224474 | 178798 |
| General Electric Co.  | 641966 | 165236 |
| Northrop Grumman Corp.  | 283061 | 141525 |
| Boeing Co. (The) <sup>(a)</sup>  | 374770 | 78526 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **39** | American Funds Insurance Series |

---

------

Washington Mutual Investors Fund (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Industrials (continued)** |  |  |
| Honeywell International, Inc.  | 324457 | $75560 |
| Union Pacific Corp.  | 289892 | 66698 |
| Paychex, Inc.  | 451500 | 65675 |
| 3M Co.  | 398062 | 60601 |
| L3Harris Technologies, Inc.  | 234851 | 58910 |
| Caterpillar, Inc.  | 145015 | 56296 |
| Deere & Co.  | 102849 | 52298 |
| Delta Air Lines, Inc.  | 769587 | 37848 |
| Ingersoll-Rand, Inc.  | 444378 | 36963 |
| Equifax, Inc.  | 139296 | 36129 |
| Carrier Global Corp.  | 438946 | 32126 |
| Parker-Hannifin Corp.  | 41006 | 28642 |
| PACCAR, Inc.  | 209348 | 19901 |
| Waste Connections, Inc.  | 99256 | 18533 |
| FedEx Corp.  | 79115 | 17984 |
| Johnson Controls International PLC  | 162291 | 17141 |
| Siemens AG (ADR)  | 132607 | 17089 |
| BAE Systems PLC (ADR)  | 161872 | 17008 |
| Republic Services, Inc.  | 67539 | 16656 |
| HEICO Corp.  | 44486 | 14591 |
| CSX Corp.  | 440277 | 14366 |
| Eaton Corp. PLC  | 17329 | 6186 |
| Lennox International, Inc.  | 8982 | 5149 |
| Deutsche Post AG (ADR)  | 94500 | 4390 |
| TransUnion  | 21970 | 1933 |
| Veralto Corp.  | — <br><sup>(b)</sup><br>| — <br><sup>(b)</sup><br>|
|  |  | 1342758 |
| **Health care 11.37%** |  |  |
| Eli Lilly and Co.  | 288964 | 225256 |
| UnitedHealth Group, Inc.  | 488501 | 152398 |
| Abbott Laboratories  | 1103923 | 150145 |
| Amgen, Inc.  | 521767 | 145682 |
| CVS Health Corp.  | 1797053 | 123961 |
| Gilead Sciences, Inc.  | 780218 | 86503 |
| AstraZeneca PLC (ADR)  | 1172994 | 81969 |
| Vertex Pharmaceuticals, Inc. <sup>(a)</sup>  | 174716 | 77783 |
| Danaher Corp.  | 299736 | 59210 |
| AbbVie, Inc.  | 301318 | 55931 |
| Elevance Health, Inc.  | 129557 | 50392 |
| Sanofi (ADR)  | 450166 | 21747 |
| Bristol-Myers Squibb Co.  | 425890 | 19714 |
| Zimmer Biomet Holdings, Inc.  | 210007 | 19155 |
| Novo Nordisk AS, Class B (ADR)  | 193034 | 13323 |
| Thermo Fisher Scientific, Inc.  | 30868 | 12516 |
| Humana, Inc.  | 31515 | 7705 |
| Illumina, Inc. <sup>(a)</sup>  | 80452 | 7676 |
| Regeneron Pharmaceuticals, Inc.  | 13923 | 7310 |
| Cooper Cos., Inc. <sup>(a)</sup>  | 79881 | 5684 |
| Zoetis, Inc., Class A  | 20870 | 3255 |
|  |  | 1327315 |
| **Consumer staples 8.74%** |  |  |
| Philip Morris International, Inc.  | 2426916 | 442014 |
| British American Tobacco PLC (ADR)  | 1900519 | 89952 |
| Keurig Dr Pepper, Inc.  | 2618399 | 86564 |
| Altria Group, Inc.  | 1020176 | 59813 |
| Constellation Brands, Inc., Class A  | 347154 | 56475 |
| Mondelez International, Inc., Class A  | 776532 | 52369 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **40** |

---

------

Washington Mutual Investors Fund (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Consumer staples (continued)** |  |  |
| Coca-Cola Co.  | 590211 | $41757 |
| Procter & Gamble Co.  | 216242 | 34452 |
| Costco Wholesale Corp.  | 33711 | 33372 |
| Hershey Co.  | 120501 | 19997 |
| Church & Dwight Co., Inc.  | 184306 | 17714 |
| Nestlé SA (ADR)  | 178302 | 17709 |
| Dollar General Corp.  | 138016 | 15786 |
| Kimberly-Clark Corp.  | 103829 | 13386 |
| Estee Lauder Cos., Inc. (The), Class A  | 145769 | 11778 |
| Kraft Heinz Co. (The)  | 412788 | 10658 |
| Target Corp.  | 98519 | 9719 |
| Bunge Global SA  | 80582 | 6469 |
|  |  | 1019984 |
| **Consumer discretionary 6.59%** |  |  |
| Royal Caribbean Cruises, Ltd.  | 568612 | 178055 |
| Home Depot, Inc.  | 250518 | 91850 |
| Starbucks Corp.  | 949091 | 86965 |
| YUM! Brands, Inc.  | 530703 | 78640 |
| Amazon.com, Inc. <sup>(a)</sup>  | 356329 | 78175 |
| Darden Restaurants, Inc.  | 342240 | 74598 |
| TJX Companies, Inc. (The)  | 336253 | 41524 |
| Marriott International, Inc., Class A  | 100754 | 27527 |
| NIKE, Inc., Class B  | 360727 | 25626 |
| D.R. Horton, Inc.  | 171613 | 22124 |
| Vail Resorts, Inc.  | 118995 | 18698 |
| Tractor Supply Co.  | 340785 | 17983 |
| General Motors Co.  | 226927 | 11167 |
| Chipotle Mexican Grill, Inc. <sup>(a)</sup>  | 165637 | 9301 |
| Sony Group Corp. (ADR) <sup>(c)</sup>  | 268839 | 6998 |
|  |  | 769231 |
| **Communication services 4.85%** |  |  |
| Alphabet, Inc., Class C  | 591921 | 105001 |
| Alphabet, Inc., Class A  | 449491 | 79214 |
| Meta Platforms, Inc., Class A  | 241141 | 177984 |
| Comcast Corp., Class A  | 3506395 | 125143 |
| Walt Disney Co. (The)  | 323772 | 40151 |
| Electronic Arts, Inc.  | 144232 | 23034 |
| Deutsche Telekom AG (ADR)  | 267761 | 9797 |
| AT&T, Inc.  | 189961 | 5497 |
|  |  | 565821 |
| **Utilities 3.74%** |  |  |
| Constellation Energy Corp.  | 389313 | 125655 |
| Sempra  | 1188525 | 90054 |
| Southern Co. (The)  | 821429 | 75432 |
| FirstEnergy Corp.  | 1235342 | 49735 |
| DTE Energy Co.  | 225528 | 29873 |
| CenterPoint Energy, Inc.  | 560529 | 20594 |
| Entergy Corp.  | 238997 | 19865 |
| Public Service Enterprise Group, Inc.  | 192090 | 16170 |
| NextEra Energy, Inc.  | 125161 | 8689 |
|  |  | 436067 |
| **Energy 3.52%** |  |  |
| EOG Resources, Inc.  | 1101276 | 131724 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **41** | American Funds Insurance Series |

---

------

Washington Mutual Investors Fund (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Energy (continued)** |  |  |
| Exxon Mobil Corp.  | 818910 | $88278 |
| ConocoPhillips  | 625790 | 56158 |
| Canadian Natural Resources, Ltd.  | 1752296 | 55022 |
| Shell PLC (ADR)  | 378073 | 26620 |
| TC Energy Corp.  | 434970 | 21222 |
| Cenovus Energy, Inc.  | 951373 | 12939 |
| Halliburton Co.  | 398694 | 8125 |
| Schlumberger NV  | 216823 | 7329 |
| Chevron Corp.  | 20964 | 3002 |
|  |  | 410419 |
| **Materials 2.86%** |  |  |
| Linde PLC  | 187287 | 87871 |
| Corteva, Inc.  | 873022 | 65066 |
| Wheaton Precious Metals Corp.  | 565165 | 50752 |
| Air Products and Chemicals, Inc.  | 177158 | 49969 |
| International Paper Co.  | 770696 | 36092 |
| Freeport-McMoRan, Inc.  | 258172 | 11192 |
| Rio Tinto PLC (ADR)  | 156586 | 9134 |
| LyondellBasell Industries NV  | 153562 | 8885 |
| Royal Gold, Inc.  | 44934 | 7991 |
| H.B. Fuller Co.  | 114890 | 6911 |
|  |  | 333863 |
| **Real estate 2.28%** |  |  |
| Welltower, Inc. REIT  | 912865 | 140335 |
| Mid-America Apartment Communities, Inc. REIT  | 327583 | 48486 |
| Prologis, Inc. REIT  | 262923 | 27638 |
| American Tower Corp. REIT  | 87159 | 19264 |
| Simon Property Group, Inc. REIT  | 93346 | 15006 |
| AvalonBay Communities, Inc. REIT  | 43005 | 8751 |
| Extra Space Storage, Inc. REIT  | 42274 | 6233 |
|  |  | 265713 |
| **Total common stocks** (cost: $6,870,557,000) |  | 11229299 |
| Convertible stocks 0.50% |  |  |
| **Industrials 0.27%** |  |  |
| Boeing Co., Series A, convertible preferred depositary shares, 6.00% 10/15/2027  | 455591 | 30980 |
| **Financials 0.23%** |  |  |
| KKR & Co., Inc., Class D, convertible preferred shares, 6.25% 3/1/2028  | 436775 | 23411 |
| Apollo Global Management, Inc., Class A, cumulative convertible preferred shares, 6.75% 7/31/2026  | 54000 | 4042 |
|  |  | 27453 |
| **Total convertible stocks** (cost: $47,807,000) |  | 58433 |
| Short-term securities 3.14% |  |  |
| **Money market investments 3.14%** | **Money market investments 3.14%** | **Money market investments 3.14%** |
| Capital Group Central Cash Fund 4.35% <sup>(d)(e)</sup>  | 3667823 | 366782 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **42** |

---

------

Washington Mutual Investors Fund (continued)

---

| | | |
|:---|:---|:---|
| Short-term securities (continued) | Shares | Value<br> (000)<br>|
| **Money market investments purchased with collateral from securities on loan 0.00%** | **Money market investments purchased with collateral from securities on loan 0.00%** | **Money market investments purchased with collateral from securities on loan 0.00%** |
| Invesco Short-Term Investments Trust – Government & Agency Portfolio, Institutional Class 4.26% <sup>(d)(f)</sup>  | 4082 | $4 |
| **Total short-term securities** (cost: $366,736,000) |  | 366786 |
| **Total investment securities 99.85%** (cost: $7,285,100,000) |  | 11654518 |
| Other assets less liabilities 0.15% |  | 17171 |
| **Net assets 100.00%** |  | $11671689 |

---

**Investments in affiliates** <sup>(e)</sup>

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>1/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>6/30/2025 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Short-term securities 3.14%** |  |  |  |  |  |  |  |
| **Money market investments 3.14%** |  |  |  |  |  |  |  |
| Capital Group Central Cash Fund 4.35% <sup>(d)</sup>  | $245250 | &nbsp;&nbsp; $902891 | &nbsp;&nbsp; $781291 | &nbsp;&nbsp; $(31)<br>| &nbsp;&nbsp; $(37)<br>| &nbsp;&nbsp; $366782 | &nbsp;&nbsp; $7099 |
| **Money market investments purchased with collateral** <br>**from securities on loan 0.00%**<br>|  |  |  |  |  |  |  |
| Capital Group Central Cash Fund 4.35% <sup>(d)</sup>  | 9850 |  | &nbsp;&nbsp; 9850 <br><sup>(g)</sup><br>|  |  | &nbsp;&nbsp; — | &nbsp;&nbsp; — <br><sup>(h)</sup><br>|
| **Total 3.14%** |  |  |  | &nbsp;&nbsp; $(31)<br>| &nbsp;&nbsp; $(37)<br>| &nbsp;&nbsp; $366782 | &nbsp;&nbsp; $7099 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Security did not produce income during the last 12 months.

<sup>(b)</sup> Amount less than one thousand.

<sup>(c)</sup> All or a portion of this security was on loan. The total value of all such securities was $4,000, which represented less than 0.01% of the net assets of the fund. Refer to Note 5 for more information on securities lending. 

<sup>(d)</sup> Rate represents the seven-day yield at 6/30/2025.

<sup>(e)</sup> Part of the same "group of investment companies" as the fund as defined under the Investment Company Act of 1940, as amended.

<sup>(f)</sup> Security purchased with cash collateral from securities on loan. Refer to Note 5 for more information on securities lending.

<sup>(g)</sup> Represents net activity. Refer to Note 5 for more information on securities lending.

<sup>(h)</sup> Dividend income is included with securities lending income in the fund's statement of operations and is not shown in this table.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **Key to abbreviation(s)** |
| ADR = American Depositary Receipts |
| REIT = Real Estate Investment Trust |

---

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **43** | American Funds Insurance Series |

---

------

U.S. Small and Mid Cap Equity Fund

**Investment portfolio** June 30, 2025unaudited

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Common stocks 96.54% | Shares | Value<br> (000)<br>|
| **Financials 23.50%** |  |  |
| Capital One Financial Corp.  | 2354 | $501 |
| Brown & Brown, Inc.  | 3591 | 398 |
| Fifth Third Bancorp  | 7211 | 297 |
| Victory Capital Holdings, Inc., Class A  | 4402 | 280 |
| RenaissanceRe Holdings, Ltd.  | 1100 | 267 |
| KeyCorp  | 13000 | 227 |
| TPG, Inc., Class A  | 3952 | 207 |
| LPL Financial Holdings, Inc.  | 534 | 200 |
| Hamilton Lane, Inc., Class A  | 1186 | 169 |
| StepStone Group, Inc., Class A  | 2938 | 163 |
| Affirm Holdings, Inc., Class A <sup>(a)</sup>  | 2094 | 145 |
| Aspen Insurance Holdings, Ltd., Class A <sup>(a)</sup>  | 4099 | 129 |
| WEX, Inc. <sup>(a)</sup>  | 864 | 127 |
| Radian Group, Inc.  | 3119 | 112 |
| Tradeweb Markets, Inc., Class A  | 614 | 90 |
| Ameriprise Financial, Inc.  | 158 | 84 |
| Artisan Partners Asset Management, Inc., Class A  | 1682 | 75 |
| Ally Financial, Inc.  | 1756 | 68 |
| Citizens Financial Group, Inc.  | 1105 | 50 |
| Kinsale Capital Group, Inc.  | 91 | 44 |
| Arthur J. Gallagher & Co.  | 109 | 35 |
| Block, Inc., Class A <sup>(a)</sup>  | 521 | 35 |
|  |  | 3703 |
| **Industrials 20.22%** |  |  |
| XPO, Inc. <sup>(a)</sup>  | 2218 | 280 |
| United Rentals, Inc.  | 342 | 258 |
| Karman Holdings, Inc. <sup>(a)</sup>  | 4909 | 247 |
| Crane Co.  | 1255 | 238 |
| Ingersoll-Rand, Inc.  | 2725 | 227 |
| ATI, Inc. <sup>(a)</sup>  | 1884 | 163 |
| Comfort Systems USA, Inc.  | 284 | 152 |
| AGCO Corp.  | 1407 | 145 |
| Core & Main, Inc., Class A <sup>(a)</sup>  | 2211 | 133 |
| Generac Holdings, Inc. <sup>(a)</sup>  | 853 | 122 |
| Kadant, Inc.  | 378 | 120 |
| APi Group Corp. <sup>(a)</sup>  | 2013 | 103 |
| SiteOne Landscape Supply, Inc. <sup>(a)</sup>  | 830 | 100 |
| Advanced Drainage Systems, Inc.  | 718 | 83 |
| Copart, Inc. <sup>(a)</sup>  | 1583 | 78 |
| PACCAR, Inc.  | 756 | 72 |
| Applied Industrial Technologies, Inc.  | 306 | 71 |
| Toro Co. (The)  | 897 | 63 |
| HEICO Corp.  | 180 | 59 |
| Alight, Inc., Class A  | 10335 | 59 |
| L3Harris Technologies, Inc.  | 192 | 48 |
| Robert Half, Inc.  | 1150 | 47 |
| Graco, Inc.  | 521 | 45 |
| AMETEK, Inc.  | 246 | 45 |
| Fluor Corp. <sup>(a)</sup>  | 774 | 40 |
| Bloom Energy Corp., Class A <sup>(a)</sup>  | 1537 | 37 |
| Nextracker, Inc., Class A <sup>(a)</sup>  | 598 | 33 |
| Oshkosh Corp.  | 282 | 32 |
| CBIZ, Inc. <sup>(a)</sup>  | 408 | 29 |
| FTI Consulting, Inc. <sup>(a)</sup>  | 139 | 22 |
| FTAI Aviation, Ltd.  | 186 | 21 |
| Regal Rexnord Corp.  | 98 | 14 |
|  |  | 3186 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **44** |

---

------

U.S. Small and Mid Cap Equity Fund (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Consumer discretionary 16.33%** |  |  |
| YUM! Brands, Inc.  | 2323 | $344 |
| Hilton Worldwide Holdings, Inc.  | 1003 | 267 |
| Vail Resorts, Inc.  | 1634 | 257 |
| LKQ Corp.  | 6101 | 226 |
| Aptiv Holdings, Ltd. <sup>(a)</sup>  | 2253 | 154 |
| Bright Horizons Family Solutions, Inc. <sup>(a)</sup>  | 970 | 120 |
| Wingstop, Inc.  | 341 | 115 |
| Flutter Entertainment PLC <sup>(a)</sup>  | 400 | 114 |
| Five Below, Inc. <sup>(a)</sup>  | 714 | 94 |
| Darden Restaurants, Inc.  | 422 | 92 |
| General Motors Co.  | 1825 | 90 |
| Williams-Sonoma, Inc.  | 475 | 77 |
| Polaris, Inc.  | 1836 | 75 |
| Murphy USA, Inc.  | 154 | 63 |
| TopBuild Corp. <sup>(a)</sup>  | 191 | 62 |
| Chewy, Inc., Class A <sup>(a)</sup>  | 1441 | 61 |
| Texas Roadhouse, Inc.  | 321 | 60 |
| Royal Caribbean Cruises, Ltd.  | 181 | 57 |
| D.R. Horton, Inc.  | 396 | 51 |
| Brinker International, Inc. <sup>(a)</sup>  | 266 | 48 |
| Toll Brothers, Inc.  | 408 | 46 |
| Cavco Industries, Inc. <sup>(a)</sup>  | 78 | 34 |
| AutoZone, Inc. <sup>(a)</sup>  | 9 | 33 |
| CAVA Group, Inc. <sup>(a)</sup>  | 385 | 32 |
|  |  | 2572 |
| **Information technology 10.90%** |  |  |
| Ingram Micro Holding Corp.  | 12295 | 256 |
| Insight Enterprises, Inc. <sup>(a)</sup>  | 1116 | 154 |
| Fabrinet, non-registered shares <sup>(a)</sup>  | 513 | 151 |
| Keysight Technologies, Inc. <sup>(a)</sup>  | 836 | 137 |
| Flex, Ltd. <sup>(a)</sup>  | 2187 | 109 |
| Lumentum Holdings, Inc. <sup>(a)</sup>  | 1084 | 103 |
| Vontier Corp.  | 2653 | 98 |
| Procore Technologies, Inc. <sup>(a)</sup>  | 1410 | 97 |
| Cloudflare, Inc., Class A <sup>(a)</sup>  | 394 | 77 |
| Pure Storage, Inc., Class A <sup>(a)</sup>  | 1273 | 73 |
| TD SYNNEX Corp.  | 472 | 64 |
| MongoDB, Inc., Class A <sup>(a)</sup>  | 293 | 62 |
| Ciena Corp. <sup>(a)</sup>  | 657 | 54 |
| CDW Corp.  | 276 | 49 |
| EPAM Systems, Inc. <sup>(a)</sup>  | 221 | 39 |
| RingCentral, Inc., Class A <sup>(a)</sup>  | 1316 | 37 |
| Okta, Inc., Class A <sup>(a)</sup>  | 369 | 37 |
| Fair Isaac Corp. <sup>(a)</sup>  | 18 | 33 |
| Clearwater Analytics Holdings, Inc., Class A <sup>(a)</sup>  | 1392 | 31 |
| Klaviyo, Inc., Class A <sup>(a)</sup>  | 693 | 23 |
| ServiceTitan, Inc., Class A <sup>(a)</sup>  | 160 | 17 |
| Circle Internet Group, Inc. <sup>(a)(b)</sup>  | 96 | 17 |
|  |  | 1718 |
| **Consumer staples 8.32%** |  |  |
| US Foods Holding Corp. <sup>(a)</sup>  | 4947 | 381 |
| Monster Beverage Corp. <sup>(a)</sup>  | 3877 | 243 |
| e.l.f. Beauty, Inc. <sup>(a)</sup>  | 1295 | 161 |
| Kimberly-Clark Corp.  | 801 | 103 |
| Casey's General Stores, Inc.  | 189 | 96 |
| Dollar General Corp.  | 823 | 94 |
| Estee Lauder Cos., Inc. (The), Class A  | 801 | 65 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **45** | American Funds Insurance Series |

---

------

U.S. Small and Mid Cap Equity Fund (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Consumer staples (continued)** |  |  |
| Keurig Dr Pepper, Inc.  | 1967 | $65 |
| Maplebear, Inc. <sup>(a)</sup>  | 1127 | 51 |
| Target Corp.  | 347 | 34 |
| Constellation Brands, Inc., Class A  | 75 | 12 |
| Bunge Global SA  | 56 | 5 |
|  |  | 1310 |
| **Health care 7.45%** |  |  |
| Hims & Hers Health, Inc., Class A <sup>(a)</sup>  | 2204 | 110 |
| Medpace Holdings, Inc. <sup>(a)</sup>  | 305 | 96 |
| Exact Sciences Corp. <sup>(a)</sup>  | 1764 | 94 |
| Ionis Pharmaceuticals, Inc. <sup>(a)</sup>  | 2386 | 94 |
| Align Technology, Inc. <sup>(a)</sup>  | 458 | 87 |
| Illumina, Inc. <sup>(a)</sup>  | 885 | 84 |
| Veeva Systems, Inc., Class A <sup>(a)</sup>  | 291 | 84 |
| Cooper Cos., Inc. <sup>(a)</sup>  | 1132 | 81 |
| Molina Healthcare, Inc. <sup>(a)</sup>  | 233 | 69 |
| Halozyme Therapeutics, Inc. <sup>(a)</sup>  | 1133 | 59 |
| Doximity, Inc., Class A <sup>(a)</sup>  | 884 | 54 |
| Penumbra, Inc. <sup>(a)</sup>  | 203 | 52 |
| Natera, Inc. <sup>(a)</sup>  | 275 | 47 |
| Zimmer Biomet Holdings, Inc.  | 328 | 30 |
| NewAmsterdam Pharma Co. NV <sup>(a)</sup>  | 1638 | 30 |
| DexCom, Inc. <sup>(a)</sup>  | 310 | 27 |
| Humana, Inc.  | 95 | 23 |
| Krystal Biotech, Inc. <sup>(a)</sup>  | 147 | 20 |
| Alnylam Pharmaceuticals, Inc. <sup>(a)</sup>  | 34 | 11 |
| agilon health, Inc. <sup>(a)</sup>  | 4503 | 10 |
| Caris Life Sciences, Inc., Class A <sup>(a)</sup>  | 345 | 9 |
| GRAIL, Inc. <sup>(a)(b)</sup>  | 57 | 3 |
|  |  | 1174 |
| **Communication services 3.44%** |  |  |
| ROBLOX Corp., Class A <sup>(a)</sup>  | 2872 | 302 |
| Live Nation Entertainment, Inc. <sup>(a)</sup>  | 613 | 93 |
| Charter Communications, Inc., Class A <sup>(a)</sup>  | 128 | 52 |
| Trade Desk, Inc. (The), Class A <sup>(a)</sup>  | 669 | 48 |
| Take-Two Interactive Software, Inc. <sup>(a)</sup>  | 192 | 47 |
|  |  | 542 |
| **Real estate 2.79%** |  |  |
| Mid-America Apartment Communities, Inc. REIT  | 898 | 133 |
| Essex Property Trust, Inc. REIT  | 370 | 105 |
| Crown Castle, Inc. REIT  | 828 | 85 |
| NNN REIT, Inc.  | 1771 | 76 |
| Lineage, Inc. REIT  | 937 | 41 |
|  |  | 440 |
| **Energy 2.03%** |  |  |
| Diamondback Energy, Inc.  | 883 | 121 |
| Baker Hughes Co., Class A  | 2254 | 87 |
| Viper Energy, Inc., Class A  | 1358 | 52 |
| Permian Resources Corp., Class A  | 3106 | 42 |
| Cheniere Energy, Inc.  | 71 | 17 |
|  |  | 319 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **46** |

---

------

U.S. Small and Mid Cap Equity Fund (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Materials 1.46%** |  |  |
| International Paper Co.  | 3154 | $148 |
| Element Solutions, Inc.  | 2825 | 64 |
| Albemarle Corp.  | 295 | 18 |
|  |  | 230 |
| **Utilities 0.10%** |  |  |
| FirstEnergy Corp.  | 364 | 15 |
| **Total common stocks** (cost: $14,596,000) |  | 15209 |
| Short-term securities 3.28% |  |  |
| **Money market investments 3.24%** | **Money market investments 3.24%** | **Money market investments 3.24%** |
| Capital Group Central Cash Fund 4.35% <sup>(c)(d)</sup>  | 5099 | 510 |
| **Money market investments purchased with collateral from securities on loan 0.04%** | **Money market investments purchased with collateral from securities on loan 0.04%** | **Money market investments purchased with collateral from securities on loan 0.04%** |
| Invesco Short-Term Investments Trust – Government & Agency Portfolio, Institutional Class 4.26% <sup>(c)(e)</sup>  | 6301 | 7 |
| **Total short-term securities** (cost: $516,000) |  | 517 |
| **Total investment securities 99.82%** (cost: $15,112,000) |  | 15726 |
| Other assets less liabilities 0.18% |  | 29 |
| **Net assets 100.00%** |  | $15755 |

---

**Investments in affiliates** <sup>(d)</sup>

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>1/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>6/30/2025 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Short-term securities 3.24%** |  |  |  |  |  |  |  |
| **Money market investments 3.24%** |  |  |  |  |  |  |  |
| Capital Group Central Cash Fund 4.35% <sup>(c)</sup>  | $288 | &nbsp;&nbsp; $2214 | &nbsp;&nbsp; $1992 | &nbsp;&nbsp; $— <br><sup>(f)</sup><br>| &nbsp;&nbsp; $— <br><sup>(f)</sup><br>| &nbsp;&nbsp; $510 | &nbsp;&nbsp; $7 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Security did not produce income during the last 12 months.

<sup>(b)</sup> All or a portion of this security was on loan. The total value of all such securities was $7,000, which represented 0.04% of the net assets of the fund. Refer to Note 5 for more information on securities lending. 

<sup>(c)</sup> Rate represents the seven-day yield at 6/30/2025.

<sup>(d)</sup> Part of the same "group of investment companies" as the fund as defined under the Investment Company Act of 1940, as amended.

<sup>(e)</sup> Security purchased with cash collateral from securities on loan. Refer to Note 5 for more information on securities lending.

<sup>(f)</sup> Amount less than one thousand.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **Key to abbreviation(s)** |
| REIT = Real Estate Investment Trust |

---

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **47** | American Funds Insurance Series |

---

------

Capital World Growth and Income Fund

**Investment portfolio** June 30, 2025unaudited

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Common stocks 95.96% | Shares | Value<br> (000)<br>|
| **Information technology 21.38%** |  |  |
| Broadcom, Inc.  | 322908 | $89010 |
| Taiwan Semiconductor Manufacturing Co., Ltd.  | 2154772 | 78189 |
| Taiwan Semiconductor Manufacturing Co., Ltd. (ADR)  | 3201 | 725 |
| Microsoft Corp.  | 148122 | 73677 |
| NVIDIA Corp.  | 275672 | 43553 |
| Apple, Inc.  | 106641 | 21880 |
| ASML Holding NV  | 17464 | 13939 |
| ASML Holding NV (ADR)  | 1512 | 1212 |
| International Business Machines Corp.  | 41677 | 12286 |
| Micron Technology, Inc.  | 97542 | 12022 |
| Tokyo Electron, Ltd.  | 50675 | 9741 |
| Oracle Corp.  | 35633 | 7790 |
| Shopify, Inc., Class A, subordinate voting shares <sup>(a)</sup>  | 65481 | 7553 |
| SAP SE  | 20143 | 6125 |
| Texas Instruments, Inc.  | 25295 | 5252 |
| MediaTek, Inc.  | 122094 | 5224 |
| Seagate Technology Holdings PLC  | 27052 | 3904 |
| ANSYS, Inc. <sup>(a)</sup>  | 10370 | 3642 |
| Accenture PLC, Class A  | 10695 | 3197 |
| KLA Corp.  | 3423 | 3066 |
| Salesforce, Inc.  | 10034 | 2736 |
| Constellation Software, Inc.  | 721 | 2644 |
| Intel Corp.  | 116540 | 2611 |
| Capgemini SE  | 14221 | 2430 |
| Allegro MicroSystems, Inc. <sup>(a)</sup>  | 64600 | 2209 |
| Keyence Corp.  | 5100 | 2048 |
| Synopsys, Inc. <sup>(a)</sup>  | 3579 | 1835 |
| EPAM Systems, Inc. <sup>(a)</sup>  | 10025 | 1773 |
| Cloudflare, Inc., Class A <sup>(a)</sup>  | 8686 | 1701 |
| Ciena Corp. <sup>(a)</sup>  | 17848 | 1452 |
| Adobe, Inc. <sup>(a)</sup>  | 3195 | 1236 |
| Elastic NV, non-registered shares <sup>(a)</sup>  | 11780 | 993 |
| Fair Isaac Corp. <sup>(a)</sup>  | 458 | 837 |
| Advantech Co., Ltd.  | 36098 | 420 |
| Applied Materials, Inc.  | 743 | 136 |
|  |  | 427048 |
| **Financials 15.86%** |  |  |
| Zurich Insurance Group AG  | 20837 | 14565 |
| JPMorgan Chase & Co.  | 44526 | 12909 |
| AXA SA  | 262359 | 12878 |
| Chubb, Ltd.  | 41672 | 12073 |
| Mastercard, Inc., Class A  | 18748 | 10535 |
| BlackRock, Inc.  | 9891 | 10378 |
| Apollo Asset Management, Inc.  | 70768 | 10040 |
| Capital One Financial Corp.  | 46086 | 9805 |
| Citigroup, Inc.  | 110046 | 9367 |
| Aviva PLC  | 1042205 | 8858 |
| NatWest Group PLC  | 1253488 | 8799 |
| ING Groep NV  | 342713 | 7519 |
| Arthur J. Gallagher & Co.  | 22995 | 7361 |
| Blackstone, Inc.  | 47902 | 7165 |
| American Express Co.  | 22216 | 7086 |
| Banco Bilbao Vizcaya Argentaria SA  | 444681 | 6838 |
| Ping An Insurance (Group) Company of China, Ltd., Class H  | 1005280 | 6384 |
| Ping An Insurance (Group) Company of China, Ltd., Class A  | 35100 | 272 |
| UniCredit SpA  | 93613 | 6276 |
| Visa, Inc., Class A  | 17504 | 6215 |
| HSBC Holdings PLC (GBP denominated)  | 351246 | 4252 |
| HSBC Holdings PLC (HKD denominated)  | 130000 | 1572 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **48** |

---

------

Capital World Growth and Income Fund (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Financials (continued)** |  |  |
| HDFC Life Insurance Co., Ltd.  | 598632 | $5684 |
| Wells Fargo & Co.  | 70909 | 5681 |
| 3i Group PLC  | 93637 | 5295 |
| Marsh & McLennan Cos., Inc.  | 22870 | 5000 |
| Bank of America Corp.  | 104457 | 4943 |
| Aon PLC, Class A  | 12988 | 4634 |
| Blue Owl Capital, Inc., Class A  | 230174 | 4422 |
| CVC Capital Partners PLC  | 207761 | 4253 |
| Israel Discount Bank, Ltd., Class A  | 426539 | 4250 |
| Ares Management Corp., Class A  | 24360 | 4219 |
| Partners Group Holding AG  | 3100 | 4044 |
| Postal Savings Bank of China Co., Ltd., Class H  | 5705383 | 3983 |
| Progressive Corp.  | 14883 | 3972 |
| BNP Paribas SA  | 42005 | 3776 |
| Munchener Ruckversicherungs-Gesellschaft AG  | 5305 | 3441 |
| KB Financial Group, Inc.  | 40508 | 3329 |
| AIA Group, Ltd.  | 365869 | 3281 |
| Mizuho Financial Group, Inc.  | 116000 | 3216 |
| FinecoBank SpA  | 139663 | 3099 |
| Axis Bank, Ltd.  | 213293 | 2983 |
| Erste Group Bank AG  | 34767 | 2961 |
| Danske Bank AS  | 71120 | 2900 |
| Morgan Stanley  | 20517 | 2890 |
| Svenska Handelsbanken AB, Class A  | 193544 | 2587 |
| China Merchants Bank Co., Ltd., Class A  | 256800 | 1647 |
| China Merchants Bank Co., Ltd., Class H  | 122403 | 855 |
| Brown & Brown, Inc.  | 22407 | 2484 |
| Brookfield Asset Management, Ltd., Class A (CAD denominated)  | 44450 | 2460 |
| Nu Holdings, Ltd., Class A <sup>(a)</sup>  | 174140 | 2389 |
| DBS Group Holdings, Ltd.  | 67000 | 2367 |
| HDFC Bank, Ltd.  | 66556 | 1553 |
| HDFC Bank, Ltd. (ADR)  | 8629 | 662 |
| CaixaBank SA, non-registered shares  | 249398 | 2160 |
| Bank Central Asia Tbk PT  | 4024400 | 2150 |
| B3 SA - Brasil, Bolsa, Balcao  | 732050 | 1965 |
| American International Group, Inc.  | 22219 | 1902 |
| TPG, Inc., Class A  | 34713 | 1821 |
| KKR & Co., Inc.  | 12817 | 1705 |
| National Bank of Canada  | 14828 | 1530 |
| Skandinaviska Enskilda Banken AB, Class A  | 84086 | 1467 |
| Societe Generale  | 24943 | 1427 |
| Banco Comercial Portugues, SA  | 1692704 | 1317 |
| Sumitomo Mitsui Financial Group, Inc.  | 50300 | 1269 |
| Fiserv, Inc. <sup>(a)</sup>  | 6083 | 1049 |
| Fidelity National Information Services, Inc.  | 11892 | 968 |
| Bank Hapoalim BM  | 46715 | 896 |
| Goldman Sachs Group, Inc.  | 1233 | 873 |
| Abu Dhabi Islamic Bank PJSC  | 141991 | 831 |
| Federal Home Loan Mortgage Corp. <sup>(a)(b)</sup>  | 98292 | 810 |
| Fannie Mae <sup>(a)</sup>  | 77815 | 742 |
| XP, Inc., Class A  | 36512 | 738 |
| Macquarie Group, Ltd.  | 4650 | 700 |
| Sberbank of Russia PJSC <sup>(c)</sup>  | 3196952 | — <br><sup>(d)</sup><br>|
|  |  | 316727 |
| **Industrials 15.14%** |  |  |
| General Electric Co.  | 121801 | 31350 |
| BAE Systems PLC  | 911124 | 23594 |
| Airbus SE, non-registered shares  | 93536 | 19531 |
| RTX Corp.  | 113584 | 16586 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **49** | American Funds Insurance Series |

---

------

Capital World Growth and Income Fund (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Industrials (continued)** |  |  |
| Siemens AG  | 63126 | $16184 |
| TransDigm Group, Inc.  | 10394 | 15806 |
| Leonardo SpA  | 245803 | 13834 |
| Carrier Global Corp.  | 143154 | 10478 |
| Deere & Co.  | 20164 | 10253 |
| Melrose Industries PLC  | 1341959 | 9778 |
| Compagnie de Saint-Gobain SA, non-registered shares  | 80853 | 9490 |
| Ryanair Holdings PLC (ADR)  | 153215 | 8836 |
| Safran SA  | 22275 | 7239 |
| United Rentals, Inc.  | 9359 | 7051 |
| Hitachi, Ltd.  | 237400 | 6932 |
| RELX PLC  | 121544 | 6568 |
| Deutsche Post AG  | 135573 | 6262 |
| Rolls-Royce Holdings PLC  | 447691 | 5946 |
| Mitsui & Co., Ltd.  | 253700 | 5192 |
| L3Harris Technologies, Inc.  | 20021 | 5022 |
| Lockheed Martin Corp.  | 10375 | 4805 |
| Siemens Energy AG <sup>(a)</sup>  | 40154 | 4638 |
| Volvo AB, Class B  | 161206 | 4522 |
| Bureau Veritas SA  | 130575 | 4451 |
| Ingersoll-Rand, Inc.  | 51987 | 4324 |
| Parker-Hannifin Corp.  | 5942 | 4150 |
| Techtronic Industries Co., Ltd.  | 359000 | 3947 |
| Recruit Holdings Co., Ltd.  | 65950 | 3909 |
| MTU Aero Engines AG  | 8343 | 3707 |
| Saab AB, Class B  | 50858 | 2836 |
| ITOCHU Corp.  | 49800 | 2613 |
| International Consolidated Airlines Group SA (CDI)  | 547301 | 2563 |
| XPO, Inc. <sup>(a)</sup>  | 15581 | 1968 |
| Crane Co.  | 10233 | 1943 |
| Comfort Systems USA, Inc.  | 2936 | 1574 |
| CSX Corp.  | 45296 | 1478 |
| AMETEK, Inc.  | 7650 | 1384 |
| Weir Group PLC (The)  | 40053 | 1369 |
| Bunzl PLC  | 42369 | 1349 |
| SS&C Technologies Holdings, Inc.  | 13786 | 1142 |
| FTAI Aviation, Ltd.  | 9560 | 1100 |
| Boeing Co. (The) <sup>(a)</sup>  | 4235 | 887 |
| Grupo Aeroportuario del Pacifico, SAB de CV, Class B  | 37007 | 850 |
| Howmet Aerospace, Inc.  | 4460 | 830 |
| Woodward, Inc.  | 3354 | 822 |
| Diploma PLC  | 11469 | 770 |
| Core & Main, Inc., Class A <sup>(a)</sup>  | 12400 | 748 |
| Ferguson Enterprises, Inc.  | 2880 | 627 |
| Arcadis NV, non-registered shares  | 10404 | 505 |
| FedEx Corp.  | 1469 | 334 |
| Marubeni Corp.  | 13600 | 275 |
| GE Vernova, Inc.  | — <br><sup>(d)</sup><br>| — <br><sup>(d)</sup><br>|
|  |  | 302352 |
| **Consumer discretionary 9.07%** |  |  |
| Amazon.com, Inc. <sup>(a)</sup>  | 140588 | 30844 |
| Starbucks Corp.  | 160763 | 14731 |
| Flutter Entertainment PLC <sup>(a)</sup>  | 44504 | 12717 |
| Royal Caribbean Cruises, Ltd.  | 35581 | 11142 |
| Las Vegas Sands Corp.  | 253300 | 11021 |
| Compagnie Financiere Richemont SA, Class A  | 50832 | 9574 |
| Trip.com Group, Ltd. (ADR)  | 81904 | 4803 |
| Trip.com Group, Ltd.  | 77436 | 4498 |
| Industria de Diseno Textil SA  | 172358 | 8970 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **50** |

---

------

Capital World Growth and Income Fund (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Consumer discretionary (continued)** |  |  |
| Tesla, Inc. <sup>(a)</sup>  | 26703 | $8483 |
| NEXT PLC  | 49226 | 8406 |
| MercadoLibre, Inc. <sup>(a)</sup>  | 2554 | 6675 |
| Home Depot, Inc.  | 15110 | 5540 |
| LVMH Moet Hennessy-Louis Vuitton SE  | 10539 | 5519 |
| Booking Holdings, Inc.  | 891 | 5158 |
| Chipotle Mexican Grill, Inc. <sup>(a)</sup>  | 82008 | 4605 |
| Moncler SpA  | 60825 | 3467 |
| Hermes International  | 1159 | 3139 |
| Marriott International, Inc., Class A  | 8912 | 2435 |
| Shimano, Inc.  | 16700 | 2424 |
| Restaurant Brands International, Inc. (CAD denominated)  | 28394 | 1884 |
| Aristocrat Leisure, Ltd.  | 39374 | 1689 |
| Dollarama, Inc.  | 11674 | 1645 |
| D.R. Horton, Inc.  | 12445 | 1604 |
| InterContinental Hotels Group PLC  | 13475 | 1536 |
| Hyundai Motor Co.  | 9840 | 1484 |
| adidas AG  | 5898 | 1375 |
| Ferrari NV (EUR denominated)  | 2794 | 1369 |
| Midea Group Co., Ltd., Class A  | 123300 | 1242 |
| Suzuki Motor Corp.  | 98300 | 1190 |
| Compass Group PLC  | 24325 | 824 |
| BYD Co., Ltd., Class H  | 42000 | 655 |
| Stellantis NV  | 60662 | 608 |
|  |  | 181256 |
| **Health care 8.41%** |  |  |
| Eli Lilly and Co.  | 40598 | 31647 |
| Abbott Laboratories  | 157539 | 21427 |
| Vertex Pharmaceuticals, Inc. <sup>(a)</sup>  | 46256 | 20593 |
| Stryker Corp.  | 27929 | 11050 |
| Novo Nordisk AS, Class B  | 149699 | 10390 |
| Gilead Sciences, Inc.  | 87671 | 9720 |
| Sanofi  | 80343 | 7780 |
| Medtronic PLC  | 75839 | 6611 |
| UnitedHealth Group, Inc.  | 20150 | 6286 |
| Takeda Pharmaceutical Co., Ltd.  | 189200 | 5814 |
| Molina Healthcare, Inc. <sup>(a)</sup>  | 15146 | 4512 |
| Amgen, Inc.  | 14806 | 4134 |
| Daiichi Sankyo Co., Ltd.  | 152300 | 3559 |
| Novartis AG  | 28740 | 3483 |
| Insulet Corp. <sup>(a)</sup>  | 10680 | 3356 |
| EssilorLuxottica SA  | 11285 | 3096 |
| Thermo Fisher Scientific, Inc.  | 7404 | 3002 |
| GE HealthCare Technologies, Inc.  | 21529 | 1595 |
| Haleon PLC  | 246030 | 1264 |
| Boston Scientific Corp. <sup>(a)</sup>  | 10781 | 1158 |
| Lonza Group AG  | 1598 | 1138 |
| CVS Health Corp.  | 16336 | 1127 |
| AstraZeneca PLC  | 7502 | 1042 |
| Cigna Group (The)  | 3100 | 1025 |
| Chugai Pharmaceutical Co., Ltd.  | 17100 | 894 |
| Rede D'Or Sao Luiz SA  | 122458 | 798 |
| Coloplast AS, Class B  | 6002 | 570 |
| Centene Corp. <sup>(a)</sup>  | 8628 | 468 |
| agilon health, Inc. <sup>(a)</sup>  | 125582 | 289 |
| Alnylam Pharmaceuticals, Inc. <sup>(a)</sup>  | 568 | 185 |
|  |  | 168013 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **51** | American Funds Insurance Series |

---

------

Capital World Growth and Income Fund (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Communication services 8.30%** |  |  |
| Meta Platforms, Inc., Class A  | 55225 | $40761 |
| Alphabet, Inc., Class A  | 91743 | 16168 |
| Alphabet, Inc., Class C  | 61561 | 10920 |
| Netflix, Inc. <sup>(a)</sup>  | 9626 | 12891 |
| Deutsche Telekom AG  | 330282 | 12049 |
| Publicis Groupe SA  | 106720 | 12028 |
| SoftBank Group Corp.  | 116000 | 8470 |
| AT&T, Inc.  | 240744 | 6967 |
| NetEase, Inc.  | 216200 | 5811 |
| NetEase, Inc. (ADR)  | 4665 | 628 |
| Singapore Telecommunications, Ltd.  | 2083063 | 6258 |
| Bharti Airtel, Ltd.  | 230486 | 5401 |
| Bharti Airtel, Ltd., interim shares  | 7924 | 141 |
| Universal Music Group NV  | 170542 | 5521 |
| SoftBank Corp.  | 3155950 | 4887 |
| Tencent Holdings, Ltd.  | 58900 | 3774 |
| Comcast Corp., Class A  | 100858 | 3600 |
| Nintendo Co., Ltd.  | 34000 | 3277 |
| Spotify Technology SA <sup>(a)</sup>  | 3523 | 2703 |
| Omnicom Group, Inc.  | 19663 | 1415 |
| Walt Disney Co. (The)  | 10921 | 1354 |
| Sea, Ltd., Class A (ADR) <sup>(a)</sup>  | 4749 | 760 |
| Advanced Info Service PCL, foreign registered shares  | 7000 | 60 |
|  |  | 165844 |
| **Consumer staples 6.05%** |  |  |
| Philip Morris International, Inc.  | 270760 | 49313 |
| Nestle SA  | 120933 | 12015 |
| Imperial Brands PLC  | 302229 | 11935 |
| British American Tobacco PLC  | 242773 | 11540 |
| Kroger Co.  | 117170 | 8405 |
| JBS NV (BDR) <sup>(a)</sup>  | 238801 | 3438 |
| Ajinomoto Co., Inc.  | 123600 | 3355 |
| Ocado Group PLC <sup>(a)</sup>  | 792264 | 2468 |
| Costco Wholesale Corp.  | 2306 | 2283 |
| Danone SA  | 27147 | 2218 |
| Sysco Corp.  | 24507 | 1856 |
| Kweichow Moutai Co., Ltd., Class A  | 9100 | 1790 |
| Bunge Global SA  | 17875 | 1435 |
| Procter & Gamble Co.  | 7660 | 1220 |
| Uni-Charm Corp.  | 147000 | 1062 |
| Suntory Beverage & Food, Ltd. <sup>(b)</sup>  | 31400 | 1005 |
| US Foods Holding Corp. <sup>(a)</sup>  | 12968 | 999 |
| Arca Continental, SAB de CV  | 87378 | 924 |
| L'Oreal SA, non-registered shares  | 2062 | 882 |
| Loblaw Companies, Ltd.  | 5274 | 872 |
| Coca-Cola Co.  | 11233 | 795 |
| Keurig Dr Pepper, Inc.  | 19565 | 647 |
| Altria Group, Inc.  | 6282 | 368 |
| General Mills, Inc.  | 1805 | 93 |
|  |  | 120918 |
| **Materials 5.30%** |  |  |
| Freeport-McMoRan, Inc.  | 411150 | 17823 |
| Linde PLC  | 27617 | 12957 |
| Heidelberg Materials AG, non-registered shares  | 45768 | 10753 |
| Vale SA, ordinary nominative shares  | 962864 | 9331 |
| Vale SA (ADR), ordinary nominative shares  | 140029 | 1359 |
| Rio Tinto PLC  | 159054 | 9268 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **52** |

---

------

Capital World Growth and Income Fund (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Materials (continued)** |  |  |
| First Quantum Minerals, Ltd. <sup>(a)</sup>  | 366873 | $6517 |
| Air Products and Chemicals, Inc.  | 18638 | 5257 |
| Corteva, Inc.  | 68862 | 5132 |
| Glencore PLC  | 982063 | 3823 |
| Ivanhoe Mines, Ltd., Class A <sup>(a)</sup>  | 450844 | 3387 |
| Air Liquide SA  | 15673 | 3234 |
| Smurfit Westrock PLC  | 63371 | 2735 |
| Dow, Inc.  | 84736 | 2244 |
| Agnico Eagle Mines, Ltd./ Mines Agnico Eagle Limitee  | 17572 | 2094 |
| Grupo Mexico, SAB de CV, Series B  | 249082 | 1509 |
| Southern Copper Corp.  | 14886 | 1506 |
| Shin-Etsu Chemical Co., Ltd.  | 31900 | 1057 |
| Akzo Nobel NV  | 14643 | 1025 |
| Lundin Mining Corp.  | 95894 | 1008 |
| CRH PLC  | 10569 | 970 |
| Franco-Nevada Corp.  | 5675 | 930 |
| Antofagasta PLC  | 35642 | 885 |
| Anglogold Ashanti PLC  | 15965 | 728 |
| Evonik Industries AG  | 20222 | 417 |
| Anglo American PLC  | — <br><sup>(d)</sup><br>| — <br><sup>(d)</sup><br>|
|  |  | 105949 |
| **Energy 3.99%** |  |  |
| Shell PLC (GBP denominated)  | 444092 | 15565 |
| Shell PLC (EUR denominated)  | 14064 | 497 |
| EOG Resources, Inc.  | 125943 | 15064 |
| Cameco Corp. (CAD denominated)  | 127926 | 9500 |
| Cameco Corp.  | 39775 | 2953 |
| Canadian Natural Resources, Ltd. (CAD denominated)  | 333819 | 10492 |
| TC Energy Corp. (CAD denominated) <sup>(b)</sup>  | 153662 | 7502 |
| Tourmaline Oil Corp.  | 64998 | 3136 |
| Baker Hughes Co., Class A  | 76799 | 2944 |
| BP PLC  | 567500 | 2849 |
| Suncor Energy, Inc.  | 68296 | 2558 |
| ConocoPhillips  | 21973 | 1972 |
| Expand Energy Corp.  | 12380 | 1448 |
| Neste OYJ  | 85724 | 1163 |
| Schlumberger NV  | 21356 | 722 |
| TotalEnergies SE  | 11680 | 717 |
| ADNOC Drilling Co. PJSC  | 381223 | 592 |
|  |  | 79674 |
| **Utilities 1.69%** |  |  |
| E.ON SE  | 252314 | 4644 |
| Iberdrola SA, non-registered shares  | 231736 | 4447 |
| Constellation Energy Corp.  | 11628 | 3753 |
| Pinnacle West Capital Corp.  | 36700 | 3284 |
| Engie SA  | 134866 | 3165 |
| NextEra Energy, Inc.  | 38632 | 2682 |
| Dominion Energy, Inc.  | 39815 | 2250 |
| Duke Energy Corp.  | 18764 | 2214 |
| China Resources Gas Group, Ltd.  | 728832 | 1862 |
| National Grid PLC  | 105993 | 1544 |
| DTE Energy Co.  | 10763 | 1426 |
| Public Service Enterprise Group, Inc.  | 11944 | 1005 |
| FirstEnergy Corp.  | 24064 | 969 |
| Southern Co. (The)  | 5700 | 523 |
|  |  | 33768 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **53** | American Funds Insurance Series |

---

------

Capital World Growth and Income Fund (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Real estate 0.77%** |  |  |
| Prologis, Inc. REIT  | 44269 | $4653 |
| China Resources Mixc Lifestyle Services, Ltd.  | 943600 | 4562 |
| VICI Properties, Inc. REIT  | 134656 | 4390 |
| Simon Property Group, Inc. REIT  | 6679 | 1074 |
| Longfor Group Holdings, Ltd. <sup>(b)</sup>  | 668238 | 788 |
|  |  | 15467 |
| **Total common stocks** (cost: $1,143,827,000) |  | 1917016 |
| Preferred securities 0.26% |  |  |
| **Financials 0.26%** |  |  |
| Itau Unibanco Holding SA, preferred nominative shares  | 320549 | 2180 |
| Itau Unibanco Holding SA (ADR), preferred nominative shares  | 219472 | 1490 |
| Fannie Mae, Series S, 8.25% noncumulative preferred shares <sup>(a)(b)</sup>  | 58679 | 880 |
| Fannie Mae, Series T, 8.25% noncumulative preferred shares <sup>(a)</sup>  | 700 | 10 |
| Federal Home Loan Mortgage Corp., Series Z, 8.375% noncumulative preferred shares <sup>(a)(b)</sup>  | 37228 | 531 |
|  |  | 5091 |
| **Total preferred securities** (cost: $4,428,000) |  | 5091 |
| Bonds, notes & other debt instruments 0.07% | Principal amount<br> (000)<br>|  |
| **Corporate bonds, notes & loans 0.04%** | **Corporate bonds, notes & loans 0.04%** | **Corporate bonds, notes & loans 0.04%** |
| **Financials 0.02%** |  |  |
| Lloyds Banking Group PLC 3.369% 12/14/2046 (5-year UST Yield Curve Rate T Note Constant Maturity + <br> 1.50% on 12/14/2041) <sup>(e)</sup>  | USD709 | 505 |
| **Health care 0.02%** |  |  |
| Teva Pharmaceutical Finance Netherlands III BV 3.15% 10/1/2026  | 432 | 424 |
| **Total corporate bonds, notes & loans** |  | 929 |
| **Bonds & notes of governments & government agencies outside the U.S. 0.03%** | **Bonds & notes of governments & government agencies outside the U.S. 0.03%** | **Bonds & notes of governments & government agencies outside the U.S. 0.03%** |
| Brazil (Federative Republic of) 10.00% 1/1/2027  | BRL3,300 | 577 |
| **Total bonds, notes & other debt instruments** (cost: $1,581,000) |  | 1506 |
| Short-term securities 4.22% | Shares |  |
| **Money market investments 3.82%** | **Money market investments 3.82%** | **Money market investments 3.82%** |
| Capital Group Central Cash Fund 4.35% <sup>(f)(g)</sup>  | 762860 | 76286 |
| **Money market investments purchased with collateral from securities on loan 0.40%** | **Money market investments purchased with collateral from securities on loan 0.40%** | **Money market investments purchased with collateral from securities on loan 0.40%** |
| Invesco Short-Term Investments Trust – Government & Agency Portfolio, Institutional Class 4.26% <sup>(f)(h)</sup>  | 8089301 | 8089 |
| **Total short-term securities** (cost: $84,370,000) | **Total short-term securities** (cost: $84,370,000) | 84375 |
| **Total investment securities 100.51%** (cost: $1,234,206,000) | **Total investment securities 100.51%** (cost: $1,234,206,000) | 2007988 |
| Other assets less liabilities (0.51)% |  | (10284)<br>|
| **Net assets 100.00%** |  | $1997704 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **54** |

---

------

Capital World Growth and Income Fund (continued)

**Investments in affiliates** <sup>(g)</sup>

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>1/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>6/30/2025 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Short-term securities 3.82%** |  |  |  |  |  |  |  |
| **Money market investments 3.82%** |  |  |  |  |  |  |  |
| Capital Group Central Cash Fund 4.35% <sup>(f)</sup>  | $46673 | &nbsp;&nbsp; $205977 | &nbsp;&nbsp; $176354 | &nbsp;&nbsp; $(8)<br>| &nbsp;&nbsp; $(2)<br>| &nbsp;&nbsp; $76286 | &nbsp;&nbsp; $1606 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Security did not produce income during the last 12 months.

<sup>(b)</sup> All or a portion of this security was on loan. The total value of all such securities was $8,902,000, which represented 0.45% of the net assets of the fund. Refer to Note 5 for more information on securities lending. 

<sup>(c)</sup> Value determined using significant unobservable inputs.

<sup>(d)</sup> Amount less than one thousand.

<sup>(e)</sup> Step bond; coupon rate may change at a later date.

<sup>(f)</sup> Rate represents the seven-day yield at 6/30/2025.

<sup>(g)</sup> Part of the same "group of investment companies" as the fund as defined under the Investment Company Act of 1940, as amended.

<sup>(h)</sup> Security purchased with cash collateral from securities on loan. Refer to Note 5 for more information on securities lending.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **Key to abbreviation(s)** |
| ADR = American Depositary Receipts |
| BDR = Brazilian Depositary Receipts |
| BRL = Brazilian reais |
| CAD = Canadian dollars |
| CDI = CREST Depository Interest  |
| EUR = Euros |
| GBP = British pounds |
| HKD = Hong Kong dollars |
| REIT = Real Estate Investment Trust |
| USD = U.S. dollars |
| UST = U.S. Treasury |

---

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **55** | American Funds Insurance Series |

---

------

Growth-Income Fund

**Investment portfolio** June 30, 2025unaudited

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Common stocks 97.21% | Shares | Value<br> (000)<br>|
| **Information technology 27.82%** |  |  |
| Microsoft Corp.  | 6355199 | $3161140 |
| NVIDIA Corp.  | 15063719 | 2379917 |
| Broadcom, Inc.  | 7692044 | 2120312 |
| Apple, Inc.  | 5646237 | 1158438 |
| Accenture PLC, Class A  | 1488978 | 445041 |
| Oracle Corp.  | 1909313 | 417433 |
| Amphenol Corp., Class A  | 3069782 | 303141 |
| Arista Networks, Inc. <sup>(a)</sup>  | 2911504 | 297876 |
| Cognizant Technology Solutions Corp., Class A  | 3381043 | 263823 |
| Seagate Technology Holdings PLC  | 1823912 | 263245 |
| Texas Instruments, Inc.  | 993770 | 206327 |
| Salesforce, Inc.  | 684185 | 186570 |
| Applied Materials, Inc.  | 933753 | 170942 |
| Taiwan Semiconductor Manufacturing Co., Ltd.  | 4102000 | 148847 |
| Microchip Technology, Inc.  | 1828376 | 128663 |
| Adobe, Inc. <sup>(a)</sup>  | 163526 | 63265 |
| Palo Alto Networks, Inc. <sup>(a)</sup>  | 220554 | 45134 |
| Micron Technology, Inc.  | 268034 | 33035 |
| ASML Holding NV  | 28845 | 23023 |
| QUALCOMM, Inc.  | 141313 | 22506 |
|  |  | 11838678 |
| **Industrials 15.48%** |  |  |
| RTX Corp.  | 7207131 | 1052385 |
| Automatic Data Processing, Inc.  | 1993331 | 614743 |
| Boeing Co. (The) <sup>(a)</sup>  | 2376190 | 497883 |
| Carrier Global Corp.  | 6092070 | 445878 |
| General Dynamics Corp.  | 1519363 | 443137 |
| GFL Environmental, Inc., subordinate voting shares  | 8442865 | 426027 |
| Woodward, Inc.  | 1642573 | 402578 |
| Airbus SE, non-registered shares  | 1921964 | 401313 |
| General Electric Co.  | 1504665 | 387286 |
| United Rentals, Inc.  | 293723 | 221291 |
| Paychex, Inc.  | 1519430 | 221016 |
| XPO, Inc. <sup>(a)</sup>  | 1749629 | 220961 |
| Honeywell International, Inc.  | 828971 | 193051 |
| Ingersoll-Rand, Inc.  | 2182540 | 181544 |
| Caterpillar, Inc.  | 418832 | 162595 |
| APi Group Corp. <sup>(a)</sup>  | 2760328 | 140915 |
| Uber Technologies, Inc. <sup>(a)</sup>  | 1288242 | 120193 |
| CSX Corp.  | 3114334 | 101621 |
| TransDigm Group, Inc.  | 65897 | 100206 |
| L3Harris Technologies, Inc.  | 381989 | 95818 |
| Union Pacific Corp.  | 360831 | 83020 |
| StandardAero, Inc. <sup>(a)</sup>  | 1589110 | 50295 |
| Waste Management, Inc.  | 113395 | 25947 |
|  |  | 6589703 |
| **Financials 12.23%** |  |  |
| JPMorgan Chase & Co.  | 2970358 | 861136 |
| Mastercard, Inc., Class A  | 1095825 | 615788 |
| Fidelity National Information Services, Inc.  | 6648960 | 541292 |
| BlackRock, Inc.  | 504695 | 529551 |
| Wells Fargo & Co.  | 3777575 | 302659 |
| Marsh & McLennan Cos., Inc.  | 1141737 | 249629 |
| Capital One Financial Corp.  | 1018858 | 216772 |
| Chubb, Ltd.  | 559859 | 162202 |
| Visa, Inc., Class A  | 445602 | 158211 |
| B3 SA - Brasil, Bolsa, Balcao  | 56528755 | 151698 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **56** |

---

------

Growth-Income Fund (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Financials (continued)** |  |  |
| Morgan Stanley  | 957257 | $134839 |
| Berkshire Hathaway, Inc., Class B <sup>(a)</sup>  | 269334 | 130834 |
| Pinnacle Financial Partners, Inc.  | 1131294 | 124906 |
| Arthur J. Gallagher & Co.  | 386229 | 123640 |
| Goldman Sachs Group, Inc.  | 174257 | 123330 |
| Progressive Corp.  | 441636 | 117855 |
| PNC Financial Services Group, Inc.  | 520903 | 97107 |
| PayPal Holdings, Inc. <sup>(a)</sup>  | 1170785 | 87013 |
| S&P Global, Inc.  | 165000 | 87003 |
| CME Group, Inc., Class A  | 292470 | 80611 |
| State Street Corp.  | 681940 | 72518 |
| American Express Co.  | 214890 | 68546 |
| American International Group, Inc.  | 704000 | 60255 |
| First Citizens BancShares, Inc., Class A  | 27589 | 53977 |
| Apollo Asset Management, Inc.  | 373721 | 53020 |
|  |  | 5204392 |
| **Consumer discretionary 10.82%** |  |  |
| Amazon.com, Inc. <sup>(a)</sup>  | 7885129 | 1729918 |
| Starbucks Corp.  | 5895185 | 540176 |
| Royal Caribbean Cruises, Ltd.  | 1347194 | 421860 |
| Wyndham Hotels & Resorts, Inc. <sup>(b)</sup>  | 4703154 | 381943 |
| Home Depot, Inc.  | 851415 | 312163 |
| Tesla, Inc. <sup>(a)</sup>  | 809068 | 257009 |
| Las Vegas Sands Corp.  | 5713687 | 248603 |
| Sony Group Corp.  | 5225500 | 135350 |
| Viking Holdings, Ltd. <sup>(a)</sup>  | 2360527 | 125793 |
| Chipotle Mexican Grill, Inc. <sup>(a)</sup>  | 2131290 | 119672 |
| Hasbro, Inc.  | 1121640 | 82799 |
| TJX Companies, Inc. (The)  | 495864 | 61234 |
| DoorDash, Inc., Class A <sup>(a)</sup>  | 176256 | 43449 |
| Carvana Co., Class A <sup>(a)</sup>  | 122390 | 41241 |
| YUM! Brands, Inc.  | 272921 | 40441 |
| Hilton Worldwide Holdings, Inc.  | 151393 | 40322 |
| LVMH Moet Hennessy-Louis Vuitton SE  | 44522 | 23317 |
|  |  | 4605290 |
| **Health care 9.29%** |  |  |
| Eli Lilly and Co.  | 1455976 | 1134977 |
| Vertex Pharmaceuticals, Inc. <sup>(a)</sup>  | 1278119 | 569019 |
| AbbVie, Inc.  | 1919793 | 356352 |
| Abbott Laboratories  | 2330871 | 317022 |
| Thermo Fisher Scientific, Inc.  | 529687 | 214767 |
| Revvity, Inc.  | 1740393 | 168331 |
| IQVIA Holdings, Inc. <sup>(a)</sup>  | 861315 | 135735 |
| Johnson & Johnson  | 807444 | 123337 |
| Sanofi  | 1245837 | 120646 |
| Cencora, Inc.  | 401982 | 120534 |
| Insulet Corp. <sup>(a)</sup>  | 303962 | 95499 |
| Gilead Sciences, Inc.  | 715085 | 79281 |
| UnitedHealth Group, Inc.  | 238376 | 74366 |
| Intuitive Surgical, Inc. <sup>(a)</sup>  | 129867 | 70571 |
| Cigna Group (The)  | 169900 | 56165 |
| Stryker Corp.  | 138782 | 54906 |
| Danaher Corp.  | 250263 | 49437 |
| GE HealthCare Technologies, Inc.  | 626693 | 46419 |
| Amgen, Inc.  | 151000 | 42161 |
| CVS Health Corp.  | 535085 | 36910 |
| DexCom, Inc. <sup>(a)</sup>  | 390182 | 34059 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **57** | American Funds Insurance Series |

---

------

Growth-Income Fund (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Health care (continued)** |  |  |
| Masimo Corp. <sup>(a)</sup>  | 119168 | $20046 |
| Medtronic PLC  | 210000 | 18306 |
| Alnylam Pharmaceuticals, Inc. <sup>(a)</sup>  | 44175 | 14405 |
|  |  | 3953251 |
| **Communication services 8.98%** |  |  |
| Meta Platforms, Inc., Class A  | 2978719 | 2198563 |
| Alphabet, Inc., Class A  | 4123004 | 726597 |
| Alphabet, Inc., Class C  | 2168410 | 384654 |
| Netflix, Inc. <sup>(a)</sup>  | 262557 | 351598 |
| Universal Music Group NV  | 3239458 | 104862 |
| SoftBank Group Corp.  | 484100 | 35348 |
| Comcast Corp., Class A  | 624053 | 22272 |
|  |  | 3823894 |
| **Consumer staples 3.14%** |  |  |
| British American Tobacco PLC  | 11381282 | 541008 |
| Procter & Gamble Co.  | 1370988 | 218426 |
| Philip Morris International, Inc.  | 1042193 | 189815 |
| Coca-Cola Co.  | 2053492 | 145284 |
| Imperial Brands PLC  | 3663668 | 144682 |
| Mondelez International, Inc., Class A  | 851894 | 57452 |
| Keurig Dr Pepper, Inc.  | 1164623 | 38502 |
|  |  | 1335169 |
| **Energy 2.99%** |  |  |
| Baker Hughes Co., Class A  | 8415638 | 322656 |
| Canadian Natural Resources, Ltd. (CAD denominated)  | 9452456 | 297092 |
| Exxon Mobil Corp.  | 2651600 | 285843 |
| Expand Energy Corp.  | 715878 | 83715 |
| TC Energy Corp.  | 1629755 | 79516 |
| EOG Resources, Inc.  | 575078 | 68785 |
| Chevron Corp.  | 444985 | 63717 |
| ConocoPhillips  | 434738 | 39013 |
| Halliburton Co.  | 1672003 | 34075 |
|  |  | 1274412 |
| **Materials 2.72%** |  |  |
| Air Products and Chemicals, Inc.  | 1428502 | 402923 |
| International Paper Co.  | 5806574 | 271922 |
| Linde PLC  | 565683 | 265407 |
| Eastman Chemical Co.  | 1388765 | 103685 |
| LyondellBasell Industries NV  | 769974 | 44551 |
| Freeport-McMoRan, Inc.  | 1005668 | 43596 |
| Albemarle Corp.  | 431100 | 27017 |
|  |  | 1159101 |
| **Utilities 1.97%** |  |  |
| PG&E Corp.  | 18016861 | 251155 |
| Dominion Energy, Inc.  | 4402764 | 248844 |
| CenterPoint Energy, Inc.  | 3037684 | 111605 |
| Entergy Corp.  | 1337004 | 111132 |
| Sempra  | 800000 | 60616 |
| NextEra Energy, Inc.  | 793264 | 55068 |
|  |  | 838420 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **58** |

---

------

Growth-Income Fund (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Real estate 1.77%** |  |  |
| VICI Properties, Inc. REIT  | 10163137 | $331319 |
| Equinix, Inc. REIT  | 235188 | 187085 |
| American Tower Corp. REIT  | 428106 | 94620 |
| Prologis, Inc. REIT  | 866060 | 91040 |
| Welltower, Inc. REIT  | 306310 | 47089 |
|  |  | 751153 |
| **Total common stocks** (cost: $22,661,815,000) |  | 41373463 |
| Bonds, notes & other debt instruments 0.00% | Principal amount<br> (000)<br>|  |
| **Corporate bonds, notes & loans 0.00%** | **Corporate bonds, notes & loans 0.00%** | **Corporate bonds, notes & loans 0.00%** |
| **Consumer discretionary 0.00%** |  |  |
| General Motors Financial Co., Inc. 4.30% 7/13/2025  | USD160 | 160 |
| General Motors Financial Co., Inc. 5.25% 3/1/2026  | 827 | 828 |
| **Total corporate bonds, notes & loans** |  | 988 |
| **Total bonds, notes & other debt instruments** (cost: $969,000) |  | 988 |
| Short-term securities 2.96% | Shares |  |
| **Money market investments 2.96%** | **Money market investments 2.96%** | **Money market investments 2.96%** |
| Capital Group Central Cash Fund 4.35% <sup>(b)(c)</sup>  | 12613746 | 1261375 |
| **Total short-term securities** (cost: $1,261,311,000) |  | 1261375 |
| **Total investment securities 100.17%** (cost: $23,924,095,000) |  | 42635826 |
| Other assets less liabilities (0.17)% |  | (73509)<br>|
| **Net assets 100.00%** |  | $42562317 |

---

**Investments in affiliates** <sup>(b)</sup>

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>1/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>6/30/2025 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Common stocks 0.90%** |  |  |  |  |  |  |  |
| **Consumer discretionary 0.90%** |  |  |  |  |  |  |  |
| Wyndham Hotels & Resorts, Inc.  | $509003 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $32068 | &nbsp;&nbsp; $6460 | &nbsp;&nbsp; $(101452)<br>| &nbsp;&nbsp; $381943 | &nbsp;&nbsp; $3857 |
| **Short-term securities 2.96%** |  |  |  |  |  |  |  |
| **Money market investments 2.96%** |  |  |  |  |  |  |  |
| Capital Group Central Cash Fund 4.35% <sup>(c)</sup>  | 1471964 | &nbsp;&nbsp; 3884821 | &nbsp;&nbsp; 4095042 | &nbsp;&nbsp; (247)<br>| &nbsp;&nbsp; (121)<br>| &nbsp;&nbsp; 1261375 | &nbsp;&nbsp; 33418 |
| **Total 3.86%** |  |  |  | &nbsp;&nbsp; $6213 | &nbsp;&nbsp; $(101573)<br>| &nbsp;&nbsp; $1643318 | &nbsp;&nbsp; $37275 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Security did not produce income during the last 12 months.

<sup>(b)</sup> Affiliate of the fund or part of the same "group of investment companies" as the fund, as defined under the Investment Company Act of 1940, as amended.

<sup>(c)</sup> Rate represents the seven-day yield at 6/30/2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **Key to abbreviation(s)** |
| CAD = Canadian dollars |
| REIT = Real Estate Investment Trust |
| USD = U.S. dollars |

---

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **59** | American Funds Insurance Series |

---

------

International Growth and Income Fund

**Investment portfolio** June 30, 2025unaudited

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Common stocks 95.81% | Shares | Value<br> (000)<br>|
| **Financials 24.20%** |  |  |
| UniCredit SpA  | 82015 | $5498 |
| AXA SA  | 98049 | 4813 |
| Societe Generale  | 83606 | 4781 |
| Skandinaviska Enskilda Banken AB, Class A  | 213375 | 3724 |
| DBS Group Holdings, Ltd.  | 92484 | 3267 |
| Banco Bilbao Vizcaya Argentaria SA  | 207319 | 3188 |
| Zurich Insurance Group AG  | 4329 | 3026 |
| CaixaBank SA, non-registered shares  | 346304 | 3000 |
| HSBC Holdings PLC (GBP denominated)  | 187318 | 2267 |
| HSBC Holdings PLC (HKD denominated)  | 57200 | 692 |
| KB Financial Group, Inc.  | 33773 | 2775 |
| Hana Financial Group, Inc.  | 38096 | 2436 |
| AIA Group, Ltd.  | 269000 | 2412 |
| Banco Santander SA  | 278262 | 2303 |
| Euronext NV  | 13050 | 2231 |
| Prudential PLC  | 176972 | 2217 |
| PICC Property and Casualty Co., Ltd., Class H  | 1140000 | 2207 |
| NatWest Group PLC  | 307586 | 2159 |
| Deutsche Bank AG  | 72520 | 2150 |
| Resona Holdings, Inc.  | 231000 | 2137 |
| HDFC Bank, Ltd.  | 84415 | 1970 |
| Bank Hapoalim BM  | 100063 | 1920 |
| Aviva PLC  | 214434 | 1823 |
| London Stock Exchange Group PLC  | 11847 | 1729 |
| Kotak Mahindra Bank, Ltd.  | 67163 | 1694 |
| Bank Leumi le-Israel BM  | 85824 | 1596 |
| Munchener Ruckversicherungs-Gesellschaft AG  | 2352 | 1525 |
| Allianz SE  | 3670 | 1488 |
| Ping An Insurance (Group) Company of China, Ltd., Class H  | 198500 | 1261 |
| Abu Dhabi Islamic Bank PJSC  | 213614 | 1251 |
| 3i Group PLC  | 22022 | 1245 |
| Tokio Marine Holdings, Inc.  | 27700 | 1175 |
| Edenred SA  | 36354 | 1126 |
| Aon PLC, Class A  | 2980 | 1063 |
| CVC Capital Partners PLC  | 50136 | 1026 |
| XP, Inc., Class A  | 45340 | 916 |
| ICICI Bank, Ltd. (ADR)  | 26538 | 893 |
| Mediobanca SpA <sup>(a)</sup>  | 37649 | 875 |
| Adyen NV <sup>(b)</sup>  | 463 | 850 |
| Etoro Group, Ltd., Class A <sup>(b)</sup>  | 12624 | 841 |
| Hiscox, Ltd.  | 48322 | 832 |
| Hong Kong Exchanges and Clearing, Ltd.  | 15500 | 827 |
| Tryg A/S  | 31592 | 816 |
| Macquarie Group, Ltd.  | 5051 | 760 |
| Pluxee NV  | 34882 | 760 |
| Canadian Imperial Bank of Commerce  | 9407 | 668 |
| Partners Group Holding AG  | 510 | 665 |
| Mizuho Financial Group, Inc.  | 23700 | 657 |
| Plus500, Ltd.  | 13607 | 634 |
| Brookfield Corp., Class A (CAD denominated)  | 8991 | 556 |
| Grupo Financiero Banorte, SAB de CV, Series O  | 56281 | 514 |
| People's Insurance Company (Group) of China, Ltd. (The), Class H  | 640000 | 487 |
| Banco BTG Pactual SA, units  | 61713 | 480 |
| Canara Bank  | 300837 | 401 |
| Sampo OYJ, Class A  | 36843 | 396 |
| Intesa Sanpaolo SpA  | 64163 | 370 |
| Grupo Financiero Inbursa, SAB de CV  | 139929 | 361 |
| MS&AD Insurance Group Holdings, Inc.  | 16000 | 359 |
| Saudi National Bank (The)  | 36707 | 354 |
| Bank Central Asia Tbk PT  | 641400 | 343 |
| Banca Generali SpA  | 6155 | 342 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **60** |

---

------

International Growth and Income Fund (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Financials (continued)** |  |  |
| Japan Post Bank Co., Ltd.  | 28500 | $308 |
| ING Groep NV  | 10568 | 232 |
| Hang Seng Bank, Ltd.  | 12900 | 193 |
| Sberbank of Russia PJSC <sup>(c)</sup>  | 476388 | — <br><sup>(d)</sup><br>|
|  |  | 95865 |
| **Industrials 16.00%** |  |  |
| BAE Systems PLC  | 371144 | 9611 |
| Airbus SE, non-registered shares  | 27613 | 5766 |
| Ryanair Holdings PLC (ADR)  | 76887 | 4434 |
| Siemens AG  | 11090 | 2843 |
| Rheinmetall AG, non-registered shares  | 1264 | 2676 |
| Hitachi, Ltd.  | 88400 | 2581 |
| ABB, Ltd.  | 42447 | 2531 |
| Safran SA  | 7110 | 2311 |
| Deutsche Post AG  | 45152 | 2085 |
| RELX PLC  | 38138 | 2061 |
| ITOCHU Corp.  | 34700 | 1821 |
| DSV A/S  | 7290 | 1752 |
| Epiroc AB, Class B  | 42138 | 806 |
| Epiroc AB, Class A  | 33488 | 727 |
| Motiva Infraestrutura de Mobilidade SA  | 599534 | 1522 |
| Canadian National Railway Co. (CAD denominated)  | 13158 | 1371 |
| Diploma PLC  | 19393 | 1301 |
| Alliance Global Group, Inc.  | 7546600 | 1208 |
| Copa Holdings SA, Class A  | 10519 | 1157 |
| Compagnie de Saint-Gobain SA, non-registered shares  | 9633 | 1131 |
| SMC Corp.  | 3000 | 1084 |
| Volvo AB, Class B  | 38529 | 1081 |
| Deutsche Lufthansa AG  | 123520 | 1045 |
| Singapore Technologies Engineering, Ltd.  | 166300 | 1019 |
| ASSA ABLOY AB, Class B  | 31106 | 971 |
| SPIE SA  | 15845 | 890 |
| SGH, Ltd.  | 22731 | 809 |
| Grupo Aeroportuario del Pacifico, SAB de CV, Class B  | 34778 | 798 |
| Komatsu, Ltd.  | 20200 | 664 |
| Brambles, Ltd.  | 34999 | 539 |
| Kingspan Group PLC  | 6112 | 520 |
| Metso Corp.  | 39888 | 516 |
| Daikin Industries, Ltd.  | 4000 | 473 |
| Caterpillar, Inc.  | 1195 | 464 |
| Bombardier, Inc., Class B <sup>(b)</sup>  | 4952 | 431 |
| Jiangsu Hengli Hydraulic Co., Ltd., Class A  | 40100 | 403 |
| Mitsui & Co., Ltd.  | 15800 | 323 |
| Rolls-Royce Holdings PLC  | 23754 | 316 |
| International Consolidated Airlines Group SA (CDI)  | 66727 | 313 |
| Ashtead Group PLC  | 4715 | 302 |
| Salik Co. PJSC  | 174803 | 288 |
| International Container Terminal Services, Inc.  | 32510 | 237 |
| Wizz Air Holdings PLC <sup>(b)</sup>  | 12727 | 190 |
|  |  | 63371 |
| **Information technology 11.17%** |  |  |
| Taiwan Semiconductor Manufacturing Co., Ltd.  | 403000 | 14623 |
| ASML Holding NV  | 7732 | 6171 |
| MediaTek, Inc.  | 90000 | 3851 |
| Samsung Electronics Co., Ltd.  | 71381 | 3163 |
| Broadcom, Inc.  | 8075 | 2226 |
| SAP SE  | 7175 | 2182 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **61** | American Funds Insurance Series |

---

------

International Growth and Income Fund (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Information technology (continued)** |  |  |
| NEC Corp.  | 55900 | $1638 |
| Sage Group PLC (The)  | 68516 | 1176 |
| Capgemini SE  | 6781 | 1159 |
| ASMPT, Ltd.  | 137500 | 1008 |
| SK hynix, Inc.  | 4609 | 997 |
| Halma PLC  | 20776 | 913 |
| ASM International NV  | 1296 | 830 |
| Fujitsu, Ltd.  | 31500 | 769 |
| Tokyo Electron, Ltd.  | 3900 | 750 |
| E Ink Holdings, Inc.  | 95000 | 719 |
| Bechtle AG, non-registered shares  | 12590 | 590 |
| Lumine Group, Inc., subordinate voting shares <sup>(b)</sup>  | 10419 | 366 |
| Tata Consultancy Services, Ltd.  | 8945 | 361 |
| Keyence Corp.  | 800 | 321 |
| eMemory Technology, Inc.  | 3000 | 242 |
| Newgen Software Technologies, Ltd.  | 13433 | 183 |
|  |  | 44238 |
| **Consumer staples 8.81%** |  |  |
| British American Tobacco PLC  | 131714 | 6261 |
| Philip Morris International, Inc.  | 27581 | 5023 |
| Nestle SA  | 44604 | 4431 |
| Imperial Brands PLC  | 91475 | 3613 |
| Carlsberg A/S, Class B  | 14001 | 1984 |
| KT&G Corp.  | 18007 | 1704 |
| Pernod Ricard SA  | 16278 | 1622 |
| Arca Continental, SAB de CV  | 127111 | 1344 |
| L'Oreal SA, non-registered shares  | 3110 | 1330 |
| Carrefour SA, non-registered shares  | 91237 | 1286 |
| Danone SA  | 13637 | 1114 |
| Anheuser-Busch InBev SA/NV  | 15787 | 1083 |
| Yamazaki Baking Co., Ltd.  | 39500 | 886 |
| Tsingtao Brewery Co., Ltd., Class H  | 129738 | 847 |
| Kweichow Moutai Co., Ltd., Class A  | 3290 | 647 |
| Ocado Group PLC <sup>(b)</sup>  | 175541 | 547 |
| Unilever PLC  | 8946 | 543 |
| United Spirits, Ltd.  | 19088 | 318 |
| Seven & i Holdings Co., Ltd.  | 18100 | 292 |
|  |  | 34875 |
| **Consumer discretionary 8.23%** |  |  |
| Industria de Diseno Textil SA  | 85241 | 4436 |
| Renault SA  | 67213 | 3098 |
| Trip.com Group, Ltd. (ADR)  | 37365 | 2191 |
| Trip.com Group, Ltd.  | 10050 | 584 |
| Prosus NV, Class N  | 48589 | 2717 |
| MGM China Holdings, Ltd.  | 1190000 | 1952 |
| Amadeus IT Group SA, Class A, non-registered shares  | 17324 | 1459 |
| LVMH Moet Hennessy-Louis Vuitton SE  | 2363 | 1238 |
| Aristocrat Leisure, Ltd.  | 28439 | 1220 |
| Evolution AB  | 13052 | 1037 |
| Entain PLC  | 83159 | 1028 |
| Midea Group Co., Ltd., Class A  | 95500 | 962 |
| ANTA Sports Products, Ltd.  | 72700 | 875 |
| Compagnie Financiere Richemont SA, Class A  | 4098 | 772 |
| InterContinental Hotels Group PLC  | 6711 | 765 |
| Hyundai Motor Co.  | 5056 | 762 |
| Suzuki Motor Corp.  | 51100 | 618 |
| Games Workshop Group PLC  | 2664 | 593 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **62** |

---

------

International Growth and Income Fund (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Consumer discretionary (continued)** |  |  |
| Restaurant Brands International, Inc. (CAD denominated)  | 8197 | $544 |
| D'Ieteren Group  | 2461 | 529 |
| B&M European Value Retail SA  | 138745 | 517 |
| Meituan, Class B <sup>(b)</sup>  | 32000 | 511 |
| Dixon Technologies (India), Ltd.  | 2917 | 510 |
| Accor SA  | 9691 | 506 |
| Nitori Holdings Co., Ltd.  | 4900 | 474 |
| H World Group, Ltd. (ADR)  | 12538 | 425 |
| JD.com, Inc., Class A (ADR)  | 12568 | 410 |
| Paltac Corp.  | 14300 | 401 |
| Galaxy Entertainment Group, Ltd.  | 89361 | 397 |
| Amber Enterprises India, Ltd. <sup>(b)</sup>  | 4368 | 345 |
| BYD Co., Ltd., Class A  | 6400 | 296 |
| Maruti Suzuki India, Ltd.  | 1989 | 288 |
| Jumbo SA  | 3722 | 128 |
|  |  | 32588 |
| **Communication services 7.32%** |  |  |
| Koninklijke KPN NV  | 950618 | 4631 |
| Singapore Telecommunications, Ltd.  | 972800 | 2923 |
| Publicis Groupe SA  | 24160 | 2723 |
| Tencent Holdings, Ltd.  | 32500 | 2082 |
| Deutsche Telekom AG  | 49481 | 1805 |
| Nintendo Co., Ltd.  | 17500 | 1687 |
| Bharti Airtel, Ltd.  | 62029 | 1453 |
| MTN Group, Ltd.  | 181961 | 1448 |
| BT Group PLC  | 487864 | 1297 |
| Orange  | 82607 | 1257 |
| Kanzhun, Ltd., Class A (ADR) <sup>(b)</sup>  | 61210 | 1092 |
| Swisscom AG <sup>(b)</sup>  | 1375 | 975 |
| NetEase, Inc.  | 34200 | 919 |
| Nippon Television Holdings, Inc.  | 38500 | 895 |
| HYBE Co., Ltd.  | 3666 | 839 |
| Indus Towers, Ltd. <sup>(b)</sup>  | 153766 | 755 |
| America Movil, SAB de CV, Class B (ADR)  | 37216 | 668 |
| Universal Music Group NV  | 20503 | 664 |
| KT Corp. (ADR)  | 22308 | 464 |
| Vend Marketplaces ASA, Class A  | 11389 | 401 |
|  |  | 28978 |
| **Health care 6.52%** |  |  |
| Sanofi  | 67985 | 6584 |
| AstraZeneca PLC  | 38492 | 5347 |
| EssilorLuxottica SA  | 11732 | 3219 |
| Novo Nordisk AS, Class B  | 44521 | 3090 |
| Chugai Pharmaceutical Co., Ltd.  | 24300 | 1270 |
| bioMerieux SA  | 8453 | 1169 |
| Haleon PLC  | 180035 | 925 |
| Grifols SA, Class B (ADR) <sup>(b)</sup>  | 96958 | 876 |
| Roche Holding AG, nonvoting non-registered shares  | 2659 | 866 |
| Bayer AG  | 25374 | 763 |
| Genus PLC  | 15716 | 441 |
| Max Healthcare Institute, Ltd.  | 27843 | 414 |
| Fresenius SE & Co. KGaA  | 7058 | 355 |
| Jiangsu Hengrui Pharmaceutical Co., Ltd., Class H <sup>(b)</sup>  | 40000 | 274 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **63** | American Funds Insurance Series |

---

------

International Growth and Income Fund (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Health care (continued)** |  |  |
| HOYA Corp.  | 1100 | $131 |
| Akums Drugs and Pharmaceuticals, Ltd. <sup>(b)</sup>  | 16884 | 115 |
| Euroapi SA <sup>(a)(b)</sup>  | 1412 | 5 |
|  |  | 25844 |
| **Materials 5.20%** |  |  |
| Barrick Mining Corp.  | 145374 | 3027 |
| Linde PLC  | 4443 | 2084 |
| Glencore PLC  | 443045 | 1725 |
| BASF SE  | 34443 | 1698 |
| Agnico Eagle Mines, Ltd./ Mines Agnico Eagle Limitee  | 11435 | 1362 |
| Shin-Etsu Chemical Co., Ltd.  | 35500 | 1176 |
| Vale SA (ADR), ordinary nominative shares  | 84314 | 819 |
| Vale SA, ordinary nominative shares  | 32911 | 319 |
| Heidelberg Materials AG, non-registered shares  | 3882 | 912 |
| Anhui Conch Cement Co., Ltd., Class H  | 345000 | 877 |
| Norsk Hydro ASA  | 141880 | 810 |
| Nutrien, Ltd. (CAD denominated)  | 13615 | 793 |
| Air Liquide SA  | 3426 | 707 |
| Rio Tinto PLC  | 11504 | 670 |
| Grupo Mexico, SAB de CV, Series B  | 102232 | 619 |
| Sika AG  | 2232 | 606 |
| Valterra Platinum, Ltd. (ZAR denominated)  | 11207 | 500 |
| Valterra Platinum, Ltd. (GBP denominated) <sup>(b)</sup>  | 1235 | 54 |
| Fresnillo PLC  | 25025 | 495 |
| Franco-Nevada Corp. (CAD denominated)  | 2647 | 435 |
| Anglo American PLC  | 10633 | 314 |
| Fortescue, Ltd.  | 23624 | 238 |
| Givaudan SA  | 43 | 208 |
| Freeport-McMoRan, Inc.  | 3152 | 137 |
| Alrosa PJSC <sup>(c)</sup>  | 53607 | — <br><sup>(d)</sup><br>|
|  |  | 20585 |
| **Energy 4.55%** |  |  |
| TotalEnergies SE  | 113612 | 6972 |
| Cameco Corp. (CAD denominated)  | 32219 | 2393 |
| Canadian Natural Resources, Ltd. (CAD denominated)  | 59516 | 1871 |
| Shell PLC (GBP denominated)  | 50148 | 1758 |
| Gaztransport & Technigaz SA  | 4044 | 801 |
| Cenovus Energy, Inc. (CAD denominated)  | 37928 | 516 |
| Cenovus Energy, Inc.  | 12761 | 174 |
| Repsol SA, non-registered shares  | 46619 | 683 |
| TC Energy Corp. (CAD denominated)  | 13038 | 636 |
| BP PLC  | 125880 | 632 |
| ADNOC Drilling Co. PJSC  | 316861 | 492 |
| Petroleo Brasileiro SA (Petrobras) (ADR), ordinary nominative shares  | 30053 | 376 |
| Tourmaline Oil Corp.  | 7613 | 367 |
| Schlumberger NV  | 7986 | 270 |
| South Bow Corp. <sup>(a)</sup>  | 2470 | 64 |
| Sovcomflot PAO <sup>(c)</sup>  | 356717 | — <br><sup>(d)</sup><br>|
|  |  | 18005 |
| **Utilities 2.76%** |  |  |
| Engie SA  | 138827 | 3258 |
| SSE PLC  | 64755 | 1628 |
| Iberdrola SA, non-registered shares  | 80462 | 1544 |
| Brookfield Infrastructure Partners, LP  | 37345 | 1251 |
| RWE AG  | 29722 | 1240 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **64** |

---

------

International Growth and Income Fund (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Utilities (continued)** |  |  |
| Veolia Environnement SA  | 18018 | $642 |
| National Grid PLC  | 42387 | 618 |
| CPFL Energia SA  | 58911 | 443 |
| NTPC, Ltd.  | 81979 | 320 |
|  |  | 10944 |
| **Real estate 1.05%** |  |  |
| Mitsubishi Estate Co., Ltd.  | 42900 | 805 |
| Prologis Property Mexico, SA de CV, REIT  | 186799 | 706 |
| CK Asset Holdings, Ltd.  | 124000 | 547 |
| Link REIT  | 93568 | 500 |
| Sun Hung Kai Properties, Ltd.  | 34000 | 390 |
| CapitaLand Integrated Commercial Trust REIT  | 222900 | 380 |
| Henderson Land Development Co., Ltd.  | 92000 | 322 |
| Longfor Group Holdings, Ltd.  | 248742 | 293 |
| Goodman Logistics (HK), Ltd. REIT  | 10467 | 236 |
|  |  | 4179 |
| **Total common stocks** (cost: $274,155,000) |  | 379472 |
| Preferred securities 0.04% |  |  |
| **Materials 0.04%** |  |  |
| Gerdau SA, preferred nominative shares  | 58932 | 174 |
| **Total preferred securities** (cost: $222,000) |  | 174 |
| Short-term securities 4.17% |  |  |
| **Money market investments 3.96%** | **Money market investments 3.96%** | **Money market investments 3.96%** |
| Capital Group Central Cash Fund 4.35% <sup>(e)(f)</sup>  | 156755 | 15675 |
| **Money market investments purchased with collateral from securities on loan 0.21%** | **Money market investments purchased with collateral from securities on loan 0.21%** | **Money market investments purchased with collateral from securities on loan 0.21%** |
| Invesco Short-Term Investments Trust – Government & Agency Portfolio, Institutional Class 4.26% <sup>(e)(g)</sup>  | 842889 | 843 |
| **Total short-term securities** (cost: $16,516,000) |  | 16518 |
| **Total investment securities 100.02%** (cost: $290,893,000) |  | 396164 |
| Other assets less liabilities (0.02)% |  | (99)<br>|
| **Net assets 100.00%** |  | $396065 |

---

**Investments in affiliates** <sup>(f)</sup>

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>1/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>6/30/2025 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Short-term securities 3.96%** |  |  |  |  |  |  |  |
| **Money market investments 3.96%** |  |  |  |  |  |  |  |
| Capital Group Central Cash Fund 4.35% <sup>(e)</sup>  | $11674 | &nbsp;&nbsp; $48655 | &nbsp;&nbsp; $44653 | &nbsp;&nbsp; $— <br><sup>(d)</sup><br>| &nbsp;&nbsp; $(1)<br>| &nbsp;&nbsp; $15675 | &nbsp;&nbsp; $272 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **65** | American Funds Insurance Series |

---

------

International Growth and Income Fund (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> All or a portion of this security was on loan. The total value of all such securities was $891,000, which represented 0.22% of the net assets of the fund. Refer to Note 5 for more information on securities lending. 

<sup>(b)</sup> Security did not produce income during the last 12 months.

<sup>(c)</sup> Value determined using significant unobservable inputs.

<sup>(d)</sup> Amount less than one thousand.

<sup>(e)</sup> Rate represents the seven-day yield at 6/30/2025.

<sup>(f)</sup> Part of the same "group of investment companies" as the fund as defined under the Investment Company Act of 1940, as amended.

<sup>(g)</sup> Security purchased with cash collateral from securities on loan. Refer to Note 5 for more information on securities lending.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **Key to abbreviation(s)** |
| ADR = American Depositary Receipts |
| CAD = Canadian dollars |
| CDI = CREST Depository Interest  |
| GBP = British pounds |
| HKD = Hong Kong dollars |
| REIT = Real Estate Investment Trust |
| ZAR = South African rand |

---

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **66** |

---

------

Capital Income Builder

**Investment portfolio** June 30, 2025unaudited

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Common stocks 74.97% | Shares | Value<br> (000)<br>|
| **Financials 14.92%** |  |  |
| JPMorgan Chase & Co.  | 85808 | $24877 |
| Morgan Stanley  | 105303 | 14833 |
| Munchener Ruckversicherungs-Gesellschaft AG  | 20000 | 12972 |
| Zurich Insurance Group AG  | 17253 | 12059 |
| NatWest Group PLC  | 1714879 | 12038 |
| ING Groep NV  | 431972 | 9478 |
| BlackRock, Inc.  | 8807 | 9241 |
| Wells Fargo & Co.  | 100287 | 8035 |
| Intact Financial Corp.  | 34475 | 8017 |
| DBS Group Holdings, Ltd.  | 213416 | 7538 |
| PNC Financial Services Group, Inc.  | 33774 | 6296 |
| Truist Financial Corp.  | 133958 | 5759 |
| KB Financial Group, Inc.  | 67130 | 5516 |
| Tokio Marine Holdings, Inc.  | 104800 | 4447 |
| Hana Financial Group, Inc.  | 69407 | 4438 |
| Euronext NV  | 22802 | 3897 |
| American International Group, Inc.  | 43446 | 3719 |
| AIA Group, Ltd.  | 400000 | 3587 |
| TPG, Inc., Class A  | 68006 | 3567 |
| National Bank of Canada  | 33144 | 3420 |
| BNP Paribas SA  | 36399 | 3272 |
| Banco Santander SA  | 392996 | 3253 |
| East West Bancorp, Inc.  | 31456 | 3176 |
| Sampo OYJ, Class A  | 289641 | 3115 |
| Progressive Corp.  | 11438 | 3052 |
| 360 ONE WAM, Ltd.  | 213984 | 2981 |
| Toronto-Dominion Bank (The) (CAD denominated)  | 38971 | 2866 |
| Power Corporation of Canada, subordinate voting shares <sup>(a)</sup>  | 71810 | 2805 |
| Banco Bilbao Vizcaya Argentaria SA  | 178297 | 2742 |
| UniCredit SpA  | 38177 | 2559 |
| Apollo Asset Management, Inc.  | 17756 | 2519 |
| CME Group, Inc., Class A  | 9068 | 2499 |
| PICC Property and Casualty Co., Ltd., Class H  | 1252000 | 2424 |
| 3i Group PLC  | 35575 | 2012 |
| Blackstone, Inc.  | 13386 | 2002 |
| EFG International AG  | 105100 | 1947 |
| Kaspi.kz JSC  | 21756 | 1916 |
| Webster Financial Corp.  | 33891 | 1851 |
| Skandinaviska Enskilda Banken AB, Class A  | 105131 | 1835 |
| Mizuho Financial Group, Inc.  | 64500 | 1789 |
| Swiss Re AG  | 10267 | 1775 |
| Samsung Fire & Marine Insurance Co., Ltd.  | 5329 | 1714 |
| Deutsche Bank AG  | 53468 | 1585 |
| State Street Corp.  | 14738 | 1567 |
| Hong Kong Exchanges and Clearing, Ltd.  | 28000 | 1494 |
| Standard Chartered PLC  | 87032 | 1442 |
| SouthState Corp.  | 12116 | 1115 |
| Patria Investments, Ltd., Class A  | 70098 | 986 |
| Bank Central Asia Tbk PT  | 1673400 | 894 |
| Canadian Imperial Bank of Commerce  | 12050 | 855 |
| Western Union Co.  | 98671 | 831 |
| Marsh & McLennan Cos., Inc.  | 3782 | 827 |
| Citizens Financial Group, Inc.  | 17188 | 769 |
| Vontobel Holding AG  | 9350 | 755 |
| Houlihan Lokey, Inc., Class A  | 3658 | 658 |
| Great-West Lifeco, Inc.  | 17173 | 653 |
| Resona Holdings, Inc.  | 62400 | 577 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **67** | American Funds Insurance Series |

---

------

Capital Income Builder (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Financials (continued)** |  |  |
| First American Financial Corp.  | 6638 | $408 |
| Bank Mandiri (Persero) Tbk PT  | 1301701 | 391 |
| Sberbank of Russia PJSC <sup>(b)</sup>  | 204176 | — <br><sup>(c)</sup><br>|
|  |  | 233645 |
| **Information technology 9.73%** |  |  |
| Broadcom, Inc.  | 218318 | 60179 |
| Taiwan Semiconductor Manufacturing Co., Ltd.  | 821800 | 29820 |
| Microsoft Corp.  | 47315 | 23535 |
| Accenture PLC, Class A  | 24540 | 7335 |
| Seagate Technology Holdings PLC  | 33236 | 4797 |
| Tokyo Electron, Ltd.  | 23200 | 4459 |
| Texas Instruments, Inc.  | 21302 | 4423 |
| SAP SE  | 12964 | 3942 |
| KLA Corp.  | 3797 | 3401 |
| HCL Technologies, Ltd.  | 134835 | 2718 |
| MediaTek, Inc.  | 50000 | 2140 |
| TE Connectivity Public, Ltd. Co.  | 10940 | 1845 |
| Analog Devices, Inc.  | 7300 | 1738 |
| TDK Corp.  | 140100 | 1649 |
| Capgemini SE  | 2349 | 401 |
|  |  | 152382 |
| **Industrials 8.67%** |  |  |
| RTX Corp.  | 200678 | 29303 |
| Volvo AB, Class B  | 331726 | 9306 |
| Siemens AG  | 34165 | 8759 |
| Deutsche Post AG  | 170160 | 7859 |
| BAE Systems PLC  | 287802 | 7453 |
| RELX PLC  | 110698 | 5982 |
| Paychex, Inc.  | 35883 | 5220 |
| Mitsubishi Corp.  | 228781 | 4588 |
| Singapore Technologies Engineering, Ltd.  | 716900 | 4392 |
| Marubeni Corp.  | 211300 | 4274 |
| FedEx Corp.  | 17546 | 3988 |
| Honeywell International, Inc.  | 16873 | 3929 |
| Automatic Data Processing, Inc.  | 12139 | 3744 |
| Carrier Global Corp.  | 43991 | 3220 |
| Broadridge Financial Solutions, Inc.  | 13014 | 3163 |
| Airbus SE, non-registered shares  | 12725 | 2657 |
| Canadian National Railway Co. (CAD denominated)  | 23624 | 2462 |
| Northrop Grumman Corp.  | 4914 | 2457 |
| Union Pacific Corp.  | 10554 | 2428 |
| ITOCHU Corp.  | 41500 | 2178 |
| Localiza Rent a Car SA, ordinary nominative shares  | 272638 | 2033 |
| Bureau Veritas SA  | 58499 | 1994 |
| Robert Half, Inc.  | 41739 | 1713 |
| Epiroc AB, Class A  | 60943 | 1323 |
| Epiroc AB, Class B  | 4933 | 95 |
| Trinity Industries, Inc.  | 51776 | 1399 |
| Schneider Electric SE  | 5014 | 1334 |
| UL Solutions, Inc., Class A  | 16361 | 1192 |
| SGS SA  | 11681 | 1185 |
| PACCAR, Inc.  | 12078 | 1148 |
| Transurban Group  | 121112 | 1114 |
| Sulzer AG  | 5386 | 972 |
| Logista Integral SA, non-registered shares  | 23729 | 777 |
| ABB, Ltd.  | 11891 | 709 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **68** |

---

------

Capital Income Builder (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Industrials (continued)** |  |  |
| Brambles, Ltd.  | 40818 | $629 |
| Computershare Ltd.  | 22570 | 593 |
| Watsco, Inc.  | 415 | 183 |
|  |  | 135755 |
| **Consumer staples 8.60%** |  |  |
| Philip Morris International, Inc.  | 232304 | 42309 |
| British American Tobacco PLC  | 501602 | 23843 |
| British American Tobacco PLC (ADR)  | 40836 | 1933 |
| Mondelez International, Inc., Class A  | 220906 | 14898 |
| Imperial Brands PLC  | 229612 | 9068 |
| Nestle SA  | 60265 | 5987 |
| Sysco Corp.  | 57604 | 4363 |
| Danone SA  | 45261 | 3698 |
| ITC, Ltd.  | 710417 | 3450 |
| Altria Group, Inc.  | 58605 | 3436 |
| Carlsberg A/S, Class B  | 21785 | 3087 |
| Coca-Cola Co.  | 42247 | 2989 |
| Kimberly-Clark Corp.  | 19552 | 2521 |
| General Mills, Inc.  | 42990 | 2227 |
| WH Group, Ltd.  | 2022500 | 1945 |
| Suntory Beverage & Food, Ltd.  | 51300 | 1642 |
| Procter & Gamble Co.  | 9712 | 1547 |
| Dollar General Corp.  | 10394 | 1189 |
| PepsiCo, Inc.  | 8237 | 1088 |
| Unilever PLC  | 16272 | 988 |
| Anheuser-Busch InBev SA/NV  | 12112 | 831 |
| Molson Coors Beverage Co., Class B, restricted voting shares  | 15116 | 727 |
| Pernod Ricard SA  | 5475 | 545 |
| Constellation Brands, Inc., Class A  | 1891 | 308 |
| Scandinavian Tobacco Group A/S  | 9175 | 122 |
|  |  | 134741 |
| **Health care 8.10%** |  |  |
| AbbVie, Inc.  | 109793 | 20380 |
| Abbott Laboratories  | 124644 | 16953 |
| Amgen, Inc.  | 49129 | 13717 |
| Gilead Sciences, Inc.  | 117805 | 13061 |
| AstraZeneca PLC  | 88789 | 12334 |
| Sanofi  | 108546 | 10512 |
| Novo Nordisk AS, Class B  | 110487 | 7668 |
| Medtronic PLC  | 82172 | 7163 |
| UnitedHealth Group, Inc.  | 14130 | 4408 |
| Bristol-Myers Squibb Co.  | 85101 | 3939 |
| Takeda Pharmaceutical Co., Ltd.  | 106625 | 3276 |
| Merck & Co., Inc.  | 28632 | 2267 |
| CVS Health Corp.  | 31588 | 2179 |
| EBOS Group, Ltd.  | 81078 | 1899 |
| EssilorLuxottica SA  | 6880 | 1887 |
| Roche Holding AG, nonvoting non-registered shares  | 4650 | 1514 |
| Novartis AG  | 9389 | 1138 |
| Sandoz Group AG  | 18029 | 987 |
| GSK PLC  | 43796 | 836 |
| Royalty Pharma PLC, Class A  | 22537 | 812 |
|  |  | 126930 |
| **Utilities 5.29%** |  |  |
| Engie SA  | 348234 | 8173 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **69** | American Funds Insurance Series |

---

------

Capital Income Builder (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Utilities (continued)** |  |  |
| Iberdrola SA, non-registered shares  | 391173 | $7506 |
| E.ON SE  | 386133 | 7107 |
| Dominion Energy, Inc.  | 124159 | 7017 |
| National Grid PLC  | 446695 | 6509 |
| SSE PLC  | 209134 | 5256 |
| Pinnacle West Capital Corp.  | 56998 | 5100 |
| DTE Energy Co.  | 37944 | 5026 |
| CenterPoint Energy, Inc.  | 124795 | 4585 |
| Duke Energy Corp.  | 33133 | 3910 |
| Southern Co. (The)  | 41174 | 3781 |
| Entergy Corp.  | 37644 | 3129 |
| Sempra  | 39487 | 2992 |
| Atmos Energy Corp.  | 15655 | 2413 |
| Enel SpA  | 230994 | 2192 |
| Power Grid Corporation of India, Ltd.  | 616919 | 2157 |
| SembCorp Industries, Ltd.  | 268900 | 1449 |
| AES Corp.  | 132318 | 1392 |
| NextEra Energy, Inc.  | 18420 | 1279 |
| Edison International  | 21128 | 1090 |
| Power Assets Holdings, Ltd.  | 127000 | 816 |
|  |  | 82879 |
| **Consumer discretionary 4.85%** |  |  |
| McDonald's Corp.  | 32086 | 9375 |
| Industria de Diseno Textil SA  | 154521 | 8042 |
| Home Depot, Inc.  | 19698 | 7222 |
| Starbucks Corp.  | 74312 | 6809 |
| YUM! Brands, Inc.  | 33673 | 4990 |
| Midea Group Co., Ltd., Class A  | 484566 | 4882 |
| Royal Caribbean Cruises, Ltd.  | 11474 | 3593 |
| Compagnie Generale des Etablissements Michelin  | 92890 | 3451 |
| LVMH Moet Hennessy-Louis Vuitton SE  | 6411 | 3358 |
| Evolution AB  | 39788 | 3161 |
| Amadeus IT Group SA, Class A, non-registered shares  | 33725 | 2840 |
| Tractor Supply Co.  | 42150 | 2224 |
| NEXT PLC  | 12951 | 2211 |
| Compagnie Financiere Richemont SA, Class A  | 11374 | 2142 |
| Aristocrat Leisure, Ltd.  | 49212 | 2111 |
| Darden Restaurants, Inc.  | 9659 | 2105 |
| Vail Resorts, Inc.  | 12620 | 1983 |
| Restaurant Brands International, Inc.  | 27181 | 1802 |
| Galaxy Entertainment Group, Ltd.  | 283000 | 1256 |
| Las Vegas Sands Corp.  | 26266 | 1143 |
| OPAP SA  | 26284 | 596 |
| Jumbo SA  | 13271 | 458 |
| International Game Technology PLC  | 17882 | 283 |
|  |  | 76037 |
| **Energy 4.64%** |  |  |
| Exxon Mobil Corp.  | 134162 | 14463 |
| Canadian Natural Resources, Ltd. (CAD denominated)  | 372833 | 11718 |
| TC Energy Corp. (CAD denominated) <sup>(a)</sup>  | 195019 | 9521 |
| Shell PLC (GBP denominated)  | 187059 | 6557 |
| Shell PLC (ADR)  | 9821 | 691 |
| TotalEnergies SE  | 100624 | 6175 |
| EOG Resources, Inc.  | 42410 | 5073 |
| ConocoPhillips  | 52067 | 4672 |
| South Bow Corp. <sup>(a)</sup>  | 156968 | 4075 |
| EQT Corp.  | 62823 | 3664 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **70** |

---

------

Capital Income Builder (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Energy (continued)** |  |  |
| Chevron Corp.  | 18330 | $2625 |
| Cenovus Energy, Inc.  | 93424 | 1271 |
| DT Midstream, Inc.  | 10047 | 1104 |
| Schlumberger NV  | 17806 | 602 |
| BP PLC  | 99480 | 499 |
| New Fortress Energy, Inc., Class A <sup>(d)</sup>  | 950 | 3 |
|  |  | 72713 |
| **Communication services 3.51%** |  |  |
| Singapore Telecommunications, Ltd.  | 3454300 | 10378 |
| T-Mobile US, Inc.  | 30317 | 7223 |
| Publicis Groupe SA  | 59664 | 6725 |
| AT&T, Inc.  | 208493 | 6034 |
| Deutsche Telekom AG  | 135327 | 4937 |
| Koninklijke KPN NV  | 881213 | 4293 |
| Comcast Corp., Class A  | 108926 | 3888 |
| Verizon Communications, Inc.  | 65877 | 2850 |
| NetEase, Inc.  | 86600 | 2328 |
| Nintendo Co., Ltd.  | 18200 | 1754 |
| America Movil, SAB de CV, Class B (ADR)  | 82076 | 1472 |
| HKT Trust and HKT, Ltd., units  | 984240 | 1469 |
| Omnicom Group, Inc.  | 12215 | 879 |
| Swisscom AG <sup>(d)</sup>  | 566 | 401 |
| Telkom Indonesia (Persero) Tbk PT, Class B  | 2242000 | 384 |
|  |  | 55015 |
| **Real estate 3.43%** |  |  |
| VICI Properties, Inc. REIT  | 627033 | 20441 |
| Welltower, Inc. REIT  | 45047 | 6925 |
| Prologis, Inc. REIT  | 37913 | 3985 |
| Extra Space Storage, Inc. REIT  | 23759 | 3503 |
| American Tower Corp. REIT  | 14128 | 3123 |
| Rexford Industrial Realty, Inc. REIT  | 84140 | 2993 |
| Mindspace Business Parks REIT  | 399976 | 1866 |
| Link REIT  | 302148 | 1613 |
| CTP NV  | 75076 | 1578 |
| CK Asset Holdings, Ltd.  | 322500 | 1421 |
| UDR, Inc. REIT  | 34393 | 1404 |
| Equinix, Inc. REIT  | 1676 | 1333 |
| SBA Communications Corp. REIT, Class A  | 4761 | 1118 |
| Sun Communities, Inc. REIT  | 5902 | 747 |
| Embassy Office Parks REIT  | 140661 | 639 |
| Lineage, Inc. REIT <sup>(a)</sup>  | 9785 | 426 |
| Longfor Group Holdings, Ltd.  | 357634 | 422 |
| Kimco Realty Corp. REIT  | 5095 | 107 |
|  |  | 53644 |
| **Materials 3.23%** |  |  |
| Air Products and Chemicals, Inc.  | 28543 | 8051 |
| Rio Tinto PLC  | 117196 | 6829 |
| Smurfit Westrock PLC  | 148945 | 6427 |
| Shin-Etsu Chemical Co., Ltd.  | 191162 | 6335 |
| Nitto Denko Corp.  | 218938 | 4244 |
| Linde PLC  | 8566 | 4019 |
| Vale SA, ordinary nominative shares  | 211978 | 2054 |
| Vale SA (ADR), ordinary nominative shares  | 91722 | 891 |
| International Paper Co.  | 55076 | 2579 |
| Anglo American PLC  | 75013 | 2214 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **71** | American Funds Insurance Series |

---

------

Capital Income Builder (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Materials (continued)** |  |  |
| Antofagasta PLC  | 47581 | $1182 |
| BASF SE  | 23462 | 1157 |
| Dow, Inc.  | 31474 | 833 |
| Eastman Chemical Co.  | 11125 | 830 |
| Barrick Mining Corp.  | 34519 | 719 |
| Evonik Industries AG  | 27512 | 567 |
| Givaudan SA  | 110 | 532 |
| Air Liquide SA  | 2512 | 518 |
| BHP Group, Ltd. (CDI)  | 19509 | 468 |
| Valterra Platinum, Ltd. (GBP denominated) <sup>(d)</sup>  | 3257 | 143 |
|  |  | 50592 |
| **Total common stocks** (cost: $810,358,000) |  | 1174333 |
| Convertible stocks 0.43% |  |  |
| **Information technology 0.19%** |  |  |
| Microchip Technology, Inc., Series A, cumulative convertible preferred depositary shares, 7.50% 3/15/2028  | 44749 | 2982 |
| **Utilities 0.13%** |  |  |
| NextEra Energy, Inc., convertible preferred shares, 7.234% 11/1/2027  | 31400 | 1390 |
| PG&E Corp., Class A, convertible preferred shares, 6.00% 12/1/2027  | 18300 | 688 |
|  |  | 2078 |
| **Materials 0.06%** |  |  |
| Albemarle Corp., Class A, cumulative convertible preferred depositary shares, 7.25% 3/1/2027  | 30256 | 971 |
| **Financials 0.05%** |  |  |
| KKR & Co., Inc., Class D, convertible preferred shares, 6.25% 3/1/2028  | 13000 | 697 |
| **Total convertible stocks** (cost: $6,289,000) |  | 6728 |
| Bonds, notes & other debt instruments 13.99% | Principal amount<br> (000)<br>|  |
| **Mortgage-backed obligations 5.57%** | **Mortgage-backed obligations 5.57%** | **Mortgage-backed obligations 5.57%** |
| **Federal agency mortgage-backed obligations 4.63%** |  |  |
| Fannie Mae Pool #695412 5.00% 6/1/2033 <sup>(e)</sup>  | USD— <br><sup>(c)</sup><br>| — <br><sup>(c)</sup><br>|
| Fannie Mae Pool #FM2499 2.50% 2/1/2035 <sup>(e)</sup>  | 802 | 757 |
| Fannie Mae Pool #AD3566 5.00% 10/1/2035 <sup>(e)</sup>  | 1 | 1 |
| Fannie Mae Pool #CB3701 2.50% 5/1/2037 <sup>(e)</sup>  | 273 | 255 |
| Fannie Mae Pool #931768 5.00% 8/1/2039 <sup>(e)</sup>  | 1 | 1 |
| Fannie Mae Pool #AC0794 5.00% 10/1/2039 <sup>(e)</sup>  | 4 | 5 |
| Fannie Mae Pool #932606 5.00% 2/1/2040 <sup>(e)</sup>  | 2 | 2 |
| Fannie Mae Pool #AE0311 3.50% 8/1/2040 <sup>(e)</sup>  | 6 | 6 |
| Fannie Mae Pool #AE1248 5.00% 6/1/2041 <sup>(e)</sup>  | 7 | 7 |
| Fannie Mae Pool #AJ1873 4.00% 10/1/2041 <sup>(e)</sup>  | 5 | 5 |
| Fannie Mae Pool #AE1274 5.00% 10/1/2041 <sup>(e)</sup>  | 4 | 4 |
| Fannie Mae Pool #AE1277 5.00% 11/1/2041 <sup>(e)</sup>  | 3 | 3 |
| Fannie Mae Pool #AE1283 5.00% 12/1/2041 <sup>(e)</sup>  | 2 | 2 |
| Fannie Mae Pool #AE1290 5.00% 2/1/2042 <sup>(e)</sup>  | 4 | 4 |
| Fannie Mae Pool #AT0300 3.50% 3/1/2043 <sup>(e)</sup>  | 1 | 1 |
| Fannie Mae Pool #AT3954 3.50% 4/1/2043 <sup>(e)</sup>  | 1 | 1 |
| Fannie Mae Pool #AY1829 3.50% 12/1/2044 <sup>(e)</sup>  | 2 | 2 |
| Fannie Mae Pool #BH3122 4.00% 6/1/2047 <sup>(e)</sup>  | 1 | 1 |
| Fannie Mae Pool #BJ5015 4.00% 12/1/2047 <sup>(e)</sup>  | 26 | 25 |
| Fannie Mae Pool #BK5232 4.00% 5/1/2048 <sup>(e)</sup>  | 15 | 15 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **72** |

---

------

Capital Income Builder (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** |  |  |
| Fannie Mae Pool #BK6840 4.00% 6/1/2048 <sup>(e)</sup>  | USD22 | $21 |
| Fannie Mae Pool #BK9743 4.00% 8/1/2048 <sup>(e)</sup>  | 6 | 6 |
| Fannie Mae Pool #BK9761 4.50% 8/1/2048 <sup>(e)</sup>  | 3 | 3 |
| Fannie Mae Pool #FM3280 3.50% 5/1/2049 <sup>(e)</sup>  | 29 | 27 |
| Fannie Mae Pool #FS5372 3.50% 7/1/2049 <sup>(e)</sup>  | 162 | 149 |
| Fannie Mae Pool #FS5313 3.50% 1/1/2050 <sup>(e)</sup>  | 1853 | 1702 |
| Fannie Mae Pool #CA5540 3.00% 4/1/2050 <sup>(e)</sup>  | 2584 | 2279 |
| Fannie Mae Pool #CA6309 3.00% 7/1/2050 <sup>(e)</sup>  | 296 | 263 |
| Fannie Mae Pool #CA6349 3.00% 7/1/2050 <sup>(e)</sup>  | 115 | 100 |
| Fannie Mae Pool #CA6740 3.00% 8/1/2050 <sup>(e)</sup>  | 76 | 67 |
| Fannie Mae Pool #CA7048 3.00% 9/1/2050 <sup>(e)</sup>  | 42 | 37 |
| Fannie Mae Pool #CA7052 3.00% 9/1/2050 <sup>(e)</sup>  | 12 | 10 |
| Fannie Mae Pool #CA7381 3.00% 10/1/2050 <sup>(e)</sup>  | 127 | 111 |
| Fannie Mae Pool #FM5166 3.00% 12/1/2050 <sup>(e)</sup>  | 82 | 71 |
| Fannie Mae Pool #BR4104 2.00% 1/1/2051 <sup>(e)</sup>  | 43 | 34 |
| Fannie Mae Pool #FM5509 3.00% 1/1/2051 <sup>(e)</sup>  | 125 | 110 |
| Fannie Mae Pool #FM6332 2.00% 2/1/2051 <sup>(e)</sup>  | 185 | 147 |
| Fannie Mae Pool #FS1086 2.00% 4/1/2051 <sup>(e)</sup>  | 22 | 17 |
| Fannie Mae Pool #CB0191 3.00% 4/1/2051 <sup>(e)</sup>  | 157 | 137 |
| Fannie Mae Pool #CB0193 3.00% 4/1/2051 <sup>(e)</sup>  | 19 | 17 |
| Fannie Mae Pool #FM7909 3.00% 6/1/2051 <sup>(e)</sup>  | 14 | 13 |
| Fannie Mae Pool #FM8477 3.00% 8/1/2051 <sup>(e)</sup>  | 110 | 96 |
| Fannie Mae Pool #CB2527 2.00% 12/1/2051 <sup>(e)</sup>  | 171 | 136 |
| Fannie Mae Pool #CB2787 3.50% 12/1/2051 <sup>(e)</sup>  | 18 | 17 |
| Fannie Mae Pool #BU1450 2.00% 1/1/2052 <sup>(e)</sup>  | 4 | 3 |
| Fannie Mae Pool #BV0790 3.50% 1/1/2052 <sup>(e)</sup>  | 71 | 64 |
| Fannie Mae Pool #FS0647 3.00% 2/1/2052 <sup>(e)</sup>  | 806 | 710 |
| Fannie Mae Pool #FS0752 3.00% 3/1/2052 <sup>(e)</sup>  | 460 | 403 |
| Fannie Mae Pool #CB3179 3.50% 3/1/2052 <sup>(e)</sup>  | 269 | 244 |
| Fannie Mae Pool #CB3379 4.00% 4/1/2052 <sup>(e)</sup>  | 4 | 4 |
| Fannie Mae Pool #MA4626 4.00% 6/1/2052 <sup>(e)</sup>  | 105 | 98 |
| Fannie Mae Pool #CB4021 4.00% 6/1/2052 <sup>(e)</sup>  | 9 | 8 |
| Fannie Mae Pool #BV8976 5.00% 8/1/2052 <sup>(e)</sup>  | 53 | 53 |
| Fannie Mae Pool #FS3056 2.00% 10/1/2052 <sup>(e)</sup>  | 150 | 119 |
| Fannie Mae Pool #BW1289 5.50% 10/1/2052 <sup>(e)</sup>  | 107 | 107 |
| Fannie Mae Pool #BW1243 5.50% 10/1/2052 <sup>(e)</sup>  | 97 | 97 |
| Fannie Mae Pool #MA4842 5.50% 12/1/2052 <sup>(e)</sup>  | 148 | 148 |
| Fannie Mae Pool #MA4919 5.50% 2/1/2053 <sup>(e)</sup>  | 93 | 93 |
| Fannie Mae Pool #CB5986 5.00% 3/1/2053 <sup>(e)</sup>  | 90 | 89 |
| Fannie Mae Pool #CB6012 4.00% 4/1/2053 <sup>(e)</sup>  | 798 | 743 |
| Fannie Mae Pool #MA4978 5.00% 4/1/2053 <sup>(e)</sup>  | 71 | 70 |
| Fannie Mae Pool #BX9827 5.00% 5/1/2053 <sup>(e)</sup>  | 232 | 228 |
| Fannie Mae Pool #FS4563 5.00% 5/1/2053 <sup>(e)</sup>  | 59 | 58 |
| Fannie Mae Pool #MA5010 5.50% 5/1/2053 <sup>(e)</sup>  | 253 | 253 |
| Fannie Mae Pool #MA5011 6.00% 5/1/2053 <sup>(e)</sup>  | 1378 | 1406 |
| Fannie Mae Pool #MA5039 5.50% 6/1/2053 <sup>(e)</sup>  | 313 | 313 |
| Fannie Mae Pool #CB6485 6.00% 6/1/2053 <sup>(e)</sup>  | 369 | 376 |
| Fannie Mae Pool #CB6486 6.00% 6/1/2053 <sup>(e)</sup>  | 229 | 234 |
| Fannie Mae Pool #CB6465 6.00% 6/1/2053 <sup>(e)</sup>  | 173 | 177 |
| Fannie Mae Pool #MA5089 4.00% 7/1/2053 <sup>(e)</sup>  | 268 | 249 |
| Fannie Mae Pool #MA5070 4.50% 7/1/2053 <sup>(e)</sup>  | 99 | 94 |
| Fannie Mae Pool #MA5071 5.00% 7/1/2053 <sup>(e)</sup>  | 123 | 121 |
| Fannie Mae Pool #BU4112 5.00% 7/1/2053 <sup>(e)</sup>  | 93 | 92 |
| Fannie Mae Pool #MA5072 5.50% 7/1/2053 <sup>(e)</sup>  | 815 | 817 |
| Fannie Mae Pool #MA5139 6.00% 9/1/2053 <sup>(e)</sup>  | 409 | 416 |
| Fannie Mae Pool #MA5177 4.00% 10/1/2053 <sup>(e)</sup>  | 911 | 848 |
| Fannie Mae Pool #MA5165 5.50% 10/1/2053 <sup>(e)</sup>  | 8 | 8 |
| Fannie Mae Pool #MA5166 6.00% 10/1/2053 <sup>(e)</sup>  | 45 | 46 |
| Fannie Mae Pool #MA5191 6.00% 11/1/2053 <sup>(e)</sup>  | 669 | 682 |
| Fannie Mae Pool #CB7426 6.50% 11/1/2053 <sup>(e)</sup>  | 68 | 71 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **73** | American Funds Insurance Series |

---

------

Capital Income Builder (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** |  |  |
| Fannie Mae Pool #CB7626 6.50% 12/1/2053 <sup>(e)</sup>  | USD24 | $25 |
| Fannie Mae Pool #FS6767 6.50% 1/1/2054 <sup>(e)</sup>  | 27 | 28 |
| Fannie Mae Pool #CB8151 5.50% 3/1/2054 <sup>(e)</sup>  | 869 | 871 |
| Fannie Mae Pool #CB8168 6.00% 3/1/2054 <sup>(e)</sup>  | 117 | 119 |
| Fannie Mae Pool #MA5295 6.00% 3/1/2054 <sup>(e)</sup>  | 62 | 63 |
| Fannie Mae Pool #CB8328 5.50% 4/1/2054 <sup>(e)</sup>  | 948 | 955 |
| Fannie Mae Pool #MA5354 6.00% 5/1/2054 <sup>(e)</sup>  | 115 | 117 |
| Fannie Mae Pool #MA5388 5.50% 6/1/2054 <sup>(e)</sup>  | 71 | 71 |
| Fannie Mae Pool #FS8153 6.00% 6/1/2054 <sup>(e)</sup>  | 395 | 405 |
| Fannie Mae Pool #DB6878 6.00% 6/1/2054 <sup>(e)</sup>  | 125 | 127 |
| Fannie Mae Pool #FS8223 6.00% 6/1/2054 <sup>(e)</sup>  | 26 | 27 |
| Fannie Mae Pool #FS8219 6.00% 6/1/2054 <sup>(e)</sup>  | 19 | 19 |
| Fannie Mae Pool #DB4399 6.50% 6/1/2054 <sup>(e)</sup>  | 21 | 22 |
| Fannie Mae Pool #BU4699 5.50% 7/1/2054 <sup>(e)</sup>  | 153 | 153 |
| Fannie Mae Pool #MA5421 6.00% 7/1/2054 <sup>(e)</sup>  | 843 | 857 |
| Fannie Mae Pool #BU4700 6.00% 7/1/2054 <sup>(e)</sup>  | 185 | 188 |
| Fannie Mae Pool #CB8858 6.00% 7/1/2054 <sup>(e)</sup>  | 165 | 169 |
| Fannie Mae Pool #DB6905 6.00% 7/1/2054 <sup>(e)</sup>  | 109 | 111 |
| Fannie Mae Pool #FS8318 6.00% 7/1/2054 <sup>(e)</sup>  | 97 | 100 |
| Fannie Mae Pool #DB6901 6.00% 7/1/2054 <sup>(e)</sup>  | 80 | 81 |
| Fannie Mae Pool #DB7039 6.00% 7/1/2054 <sup>(e)</sup>  | 20 | 20 |
| Fannie Mae Pool #FS9819 7.00% 7/1/2054 <sup>(e)</sup>  | 465 | 490 |
| Fannie Mae Pool #FS8757 6.00% 8/1/2054 <sup>(e)</sup>  | 2755 | 2820 |
| Fannie Mae Pool #MA5445 6.00% 8/1/2054 <sup>(e)</sup>  | 358 | 364 |
| Fannie Mae Pool #DC0296 6.00% 8/1/2054 <sup>(e)</sup>  | 9 | 10 |
| Fannie Mae Pool #DB7687 6.00% 8/1/2054 <sup>(e)</sup>  | 9 | 10 |
| Fannie Mae Pool #FS8756 6.00% 8/1/2054 <sup>(e)</sup>  | 10 | 10 |
| Fannie Mae Pool #DB7690 6.00% 8/1/2054 <sup>(e)</sup>  | 9 | 9 |
| Fannie Mae Pool #BU4916 6.00% 8/1/2054 <sup>(e)</sup>  | 7 | 7 |
| Fannie Mae Pool #CB9071 6.50% 8/1/2054 <sup>(e)</sup>  | 18 | 19 |
| Fannie Mae Pool #MA5470 5.50% 9/1/2054 <sup>(e)</sup>  | 240 | 240 |
| Fannie Mae Pool #FS9001 5.50% 9/1/2054 <sup>(e)</sup>  | 34 | 34 |
| Fannie Mae Pool #BU5165 5.50% 11/1/2054 <sup>(e)</sup>  | 237 | 237 |
| Fannie Mae Pool #DC9197 4.50% 12/1/2054 <sup>(e)</sup>  | 575 | 551 |
| Fannie Mae Pool #MA5552 5.00% 12/1/2054 <sup>(e)</sup>  | 200 | 196 |
| Fannie Mae Pool #MA5583 4.00% 1/1/2055 <sup>(e)</sup>  | 1177 | 1095 |
| Fannie Mae Pool #MA5587 6.00% 1/1/2055 <sup>(e)</sup>  | 44 | 45 |
| Fannie Mae Pool #MA5615 6.00% 2/1/2055 <sup>(e)</sup>  | 628 | 639 |
| Fannie Mae Pool #MA5644 4.50% 3/1/2055 <sup>(e)</sup>  | 318 | 305 |
| Fannie Mae Pool #MA5647 6.00% 3/1/2055 <sup>(e)</sup>  | 25 | 25 |
| Fannie Mae Pool #MA5671 4.50% 4/1/2055 <sup>(e)</sup>  | 334 | 320 |
| Fannie Mae Pool #MA5674 6.00% 4/1/2055 <sup>(e)</sup>  | 79 | 80 |
| Fannie Mae Pool #MA5699 5.00% 5/1/2055 <sup>(e)</sup>  | 20 | 19 |
| Fannie Mae Pool #MA5701 6.00% 5/1/2055 <sup>(e)</sup>  | 204 | 208 |
| Fannie Mae Pool #MA5734 5.00% 6/1/2055 <sup>(e)</sup>  | 14 | 14 |
| Fannie Mae Pool #MA5735 5.50% 6/1/2055 <sup>(e)</sup>  | 1 | 1 |
| Fannie Mae Pool #MA5762 6.50% 7/1/2055 <sup>(e)</sup>  | 207 | 214 |
| Fannie Mae Pool #BF0142 5.50% 8/1/2056 <sup>(e)</sup>  | 328 | 338 |
| Fannie Mae Pool #BF0342 5.50% 1/1/2059 <sup>(e)</sup>  | 218 | 220 |
| Fannie Mae Pool #BM6737 4.50% 11/1/2059 <sup>(e)</sup>  | 535 | 514 |
| Fannie Mae Pool #BF0497 3.00% 7/1/2060 <sup>(e)</sup>  | 368 | 317 |
| Freddie Mac Pool #SB0649 2.50% 4/1/2037 <sup>(e)</sup>  | 401 | 375 |
| Freddie Mac Pool #SB1388 2.50% 1/1/2038 <sup>(e)</sup>  | 115 | 107 |
| Freddie Mac Pool #SC0149 2.00% 3/1/2041 <sup>(e)</sup>  | 63 | 54 |
| Freddie Mac Pool #RB0544 2.00% 6/1/2041 <sup>(e)</sup>  | 109 | 94 |
| Freddie Mac Pool #Q15874 4.00% 2/1/2043 <sup>(e)</sup>  | 1 | 1 |
| Freddie Mac Pool #G67711 4.00% 3/1/2048 <sup>(e)</sup>  | 181 | 171 |
| Freddie Mac Pool #Q55971 4.00% 5/1/2048 <sup>(e)</sup>  | 15 | 14 |
| Freddie Mac Pool #Q56175 4.00% 5/1/2048 <sup>(e)</sup>  | 12 | 11 |
| Freddie Mac Pool #Q55970 4.00% 5/1/2048 <sup>(e)</sup>  | 7 | 7 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **74** |

---

------

Capital Income Builder (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** |  |  |
| Freddie Mac Pool #Q56599 4.00% 6/1/2048 <sup>(e)</sup>  | USD23 | $22 |
| Freddie Mac Pool #Q57242 4.50% 7/1/2048 <sup>(e)</sup>  | 10 | 10 |
| Freddie Mac Pool #Q58411 4.50% 9/1/2048 <sup>(e)</sup>  | 41 | 40 |
| Freddie Mac Pool #Q58436 4.50% 9/1/2048 <sup>(e)</sup>  | 19 | 19 |
| Freddie Mac Pool #Q58378 4.50% 9/1/2048 <sup>(e)</sup>  | 14 | 13 |
| Freddie Mac Pool #ZT1704 4.50% 1/1/2049 <sup>(e)</sup>  | 946 | 923 |
| Freddie Mac Pool #RA3384 3.00% 8/1/2050 <sup>(e)</sup>  | 12 | 11 |
| Freddie Mac Pool #RA3506 3.00% 9/1/2050 <sup>(e)</sup>  | 136 | 119 |
| Freddie Mac Pool #RA5901 3.00% 9/1/2051 <sup>(e)</sup>  | 64 | 56 |
| Freddie Mac Pool #RA6347 3.00% 11/1/2051 <sup>(e)</sup>  | 129 | 113 |
| Freddie Mac Pool #SD2629 2.50% 1/1/2052 <sup>(e)</sup>  | 48 | 40 |
| Freddie Mac Pool #QD3812 3.00% 1/1/2052 <sup>(e)</sup>  | 102 | 89 |
| Freddie Mac Pool #RA6973 2.00% 3/1/2052 <sup>(e)</sup>  | 243 | 193 |
| Freddie Mac Pool #SD1156 3.00% 4/1/2052 <sup>(e)</sup>  | 110 | 95 |
| Freddie Mac Pool #SD8213 3.00% 5/1/2052 <sup>(e)</sup>  | 796 | 691 |
| Freddie Mac Pool #SD8220 3.00% 6/1/2052 <sup>(e)</sup>  | 455 | 394 |
| Freddie Mac Pool #QE4383 4.00% 6/1/2052 <sup>(e)</sup>  | 313 | 292 |
| Freddie Mac Pool #RA7556 4.50% 6/1/2052 <sup>(e)</sup>  | 753 | 722 |
| Freddie Mac Pool #SD8225 3.00% 7/1/2052 <sup>(e)</sup>  | 146 | 127 |
| Freddie Mac Pool #SD1406 2.00% 8/1/2052 <sup>(e)</sup>  | 44 | 35 |
| Freddie Mac Pool #SD8242 3.00% 9/1/2052 <sup>(e)</sup>  | 111 | 96 |
| Freddie Mac Pool #SD1584 4.50% 9/1/2052 <sup>(e)</sup>  | 165 | 160 |
| Freddie Mac Pool #QE9222 5.00% 9/1/2052 <sup>(e)</sup>  | 586 | 577 |
| Freddie Mac Pool #QF0924 5.50% 9/1/2052 <sup>(e)</sup>  | 287 | 288 |
| Freddie Mac Pool #QF2223 4.00% 10/1/2052 <sup>(e)</sup>  | 26 | 24 |
| Freddie Mac Pool #SD5845 3.50% 11/1/2052 <sup>(e)</sup>  | 2430 | 2191 |
| Freddie Mac Pool #SD2948 5.50% 11/1/2052 <sup>(e)</sup>  | 103 | 103 |
| Freddie Mac Pool #SD2602 3.00% 12/1/2052 <sup>(e)</sup>  | 23 | 20 |
| Freddie Mac Pool #SD4116 4.50% 12/1/2052 <sup>(e)</sup>  | 437 | 419 |
| Freddie Mac Pool #SD8286 4.00% 1/1/2053 <sup>(e)</sup>  | 754 | 703 |
| Freddie Mac Pool #SD2716 5.00% 4/1/2053 <sup>(e)</sup>  | 93 | 92 |
| Freddie Mac Pool #SD8316 5.50% 4/1/2053 <sup>(e)</sup>  | 517 | 518 |
| Freddie Mac Pool #SD8324 5.50% 5/1/2053 <sup>(e)</sup>  | 391 | 392 |
| Freddie Mac Pool #SD8329 5.00% 6/1/2053 <sup>(e)</sup>  | 31 | 31 |
| Freddie Mac Pool #SD8331 5.50% 6/1/2053 <sup>(e)</sup>  | 979 | 981 |
| Freddie Mac Pool #SD3175 6.00% 6/1/2053 <sup>(e)</sup>  | 79 | 80 |
| Freddie Mac Pool #RA9294 6.50% 6/1/2053 <sup>(e)</sup>  | 15 | 16 |
| Freddie Mac Pool #RA9288 6.50% 6/1/2053 <sup>(e)</sup>  | 12 | 13 |
| Freddie Mac Pool #RA9289 6.50% 6/1/2053 <sup>(e)</sup>  | 12 | 13 |
| Freddie Mac Pool #RA9292 6.50% 6/1/2053 <sup>(e)</sup>  | 13 | 13 |
| Freddie Mac Pool #RA9287 6.50% 6/1/2053 <sup>(e)</sup>  | 8 | 9 |
| Freddie Mac Pool #RA9290 6.50% 6/1/2053 <sup>(e)</sup>  | 6 | 6 |
| Freddie Mac Pool #RA9291 6.50% 6/1/2053 <sup>(e)</sup>  | 4 | 4 |
| Freddie Mac Pool #RA9295 6.50% 6/1/2053 <sup>(e)</sup>  | 3 | 3 |
| Freddie Mac Pool #SD8342 5.50% 7/1/2053 <sup>(e)</sup>  | 32 | 32 |
| Freddie Mac Pool #SD3432 6.00% 7/1/2053 <sup>(e)</sup>  | 18 | 19 |
| Freddie Mac Pool #SD8362 5.50% 9/1/2053 <sup>(e)</sup>  | 17 | 17 |
| Freddie Mac Pool #SD8367 5.50% 10/1/2053 <sup>(e)</sup>  | 214 | 215 |
| Freddie Mac Pool #SD4977 5.00% 11/1/2053 <sup>(e)</sup>  | 850 | 835 |
| Freddie Mac Pool #SD8372 5.50% 11/1/2053 <sup>(e)</sup>  | 45 | 45 |
| Freddie Mac Pool #RJ0326 6.50% 11/1/2053 <sup>(e)</sup>  | 9 | 10 |
| Freddie Mac Pool #SD8392 4.00% 12/1/2053 <sup>(e)</sup>  | 53 | 49 |
| Freddie Mac Pool #SD8386 7.00% 12/1/2053 <sup>(e)</sup>  | 243 | 256 |
| Freddie Mac Pool #SD4693 6.50% 1/1/2054 <sup>(e)</sup>  | 8 | 8 |
| Freddie Mac Pool #SD8401 5.50% 2/1/2054 <sup>(e)</sup>  | 17 | 17 |
| Freddie Mac Pool #SD8402 6.00% 2/1/2054 <sup>(e)</sup>  | 1190 | 1211 |
| Freddie Mac Pool #SD8408 5.50% 3/1/2054 <sup>(e)</sup>  | 874 | 875 |
| Freddie Mac Pool #RJ1216 5.50% 4/1/2054 <sup>(e)</sup>  | 18 | 18 |
| Freddie Mac Pool #RJ1215 5.50% 4/1/2054 <sup>(e)</sup>  | 9 | 9 |
| Freddie Mac Pool #SD5303 6.00% 4/1/2054 <sup>(e)</sup>  | 450 | 461 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **75** | American Funds Insurance Series |

---

------

Capital Income Builder (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** |  |  |
| Freddie Mac Pool #QI3333 6.00% 4/1/2054 <sup>(e)</sup>  | USD9 | $10 |
| Freddie Mac Pool #RJ1512 5.50% 5/1/2054 <sup>(e)</sup>  | 270 | 272 |
| Freddie Mac Pool #SD8432 6.00% 5/1/2054 <sup>(e)</sup>  | 53 | 53 |
| Freddie Mac Pool #SD5692 6.00% 5/1/2054 <sup>(e)</sup>  | 17 | 17 |
| Freddie Mac Pool #QI5199 6.50% 5/1/2054 <sup>(e)</sup>  | 25 | 26 |
| Freddie Mac Pool #QI7522 5.50% 6/1/2054 <sup>(e)</sup>  | 116 | 116 |
| Freddie Mac Pool #RJ1768 5.50% 6/1/2054 <sup>(e)</sup>  | 24 | 24 |
| Freddie Mac Pool #SD8439 6.00% 6/1/2054 <sup>(e)</sup>  | 1 | 1 |
| Freddie Mac Pool #QI8872 5.50% 7/1/2054 <sup>(e)</sup>  | 76 | 77 |
| Freddie Mac Pool #SD8446 5.50% 7/1/2054 <sup>(e)</sup>  | 64 | 64 |
| Freddie Mac Pool #SD8447 6.00% 7/1/2054 <sup>(e)</sup>  | 358 | 365 |
| Freddie Mac Pool #RJ1964 6.00% 7/1/2054 <sup>(e)</sup>  | 291 | 300 |
| Freddie Mac Pool #RJ1975 6.00% 7/1/2054 <sup>(e)</sup>  | 252 | 256 |
| Freddie Mac Pool #QI8874 6.00% 7/1/2054 <sup>(e)</sup>  | 76 | 77 |
| Freddie Mac Pool #SD5813 6.00% 7/1/2054 <sup>(e)</sup>  | 18 | 19 |
| Freddie Mac Pool #SD5896 6.00% 7/1/2054 <sup>(e)</sup>  | 16 | 16 |
| Freddie Mac Pool #SD8454 6.00% 8/1/2054 <sup>(e)</sup>  | 176 | 179 |
| Freddie Mac Pool #RJ2216 6.00% 8/1/2054 <sup>(e)</sup>  | 18 | 18 |
| Freddie Mac Pool #SD6029 6.00% 8/1/2054 <sup>(e)</sup>  | 9 | 10 |
| Freddie Mac Pool #RJ2210 6.00% 8/1/2054 <sup>(e)</sup>  | 5 | 5 |
| Freddie Mac Pool #RJ2314 6.00% 9/1/2054 <sup>(e)</sup>  | 38 | 39 |
| Freddie Mac Pool #RJ2306 6.00% 9/1/2054 <sup>(e)</sup>  | 19 | 20 |
| Freddie Mac Pool #RJ2308 6.00% 9/1/2054 <sup>(e)</sup>  | 18 | 19 |
| Freddie Mac Pool #RJ2312 6.00% 9/1/2054 <sup>(e)</sup>  | 19 | 19 |
| Freddie Mac Pool #RJ2309 6.00% 9/1/2054 <sup>(e)</sup>  | 9 | 9 |
| Freddie Mac Pool #RJ2851 4.50% 11/1/2054 <sup>(e)</sup>  | 82 | 79 |
| Freddie Mac Pool #RJ2860 5.00% 11/1/2054 <sup>(e)</sup>  | 53 | 52 |
| Freddie Mac Pool #RJ2917 5.50% 11/1/2054 <sup>(e)</sup>  | 63 | 63 |
| Freddie Mac Pool #RJ2922 6.00% 11/1/2054 <sup>(e)</sup>  | 18 | 18 |
| Freddie Mac Pool #SD8489 4.50% 12/1/2054 <sup>(e)</sup>  | 568 | 543 |
| Freddie Mac Pool #QX1414 5.50% 12/1/2054 <sup>(e)</sup>  | 339 | 339 |
| Freddie Mac Pool #RJ3264 4.50% 2/1/2055 <sup>(e)</sup>  | 37 | 35 |
| Freddie Mac Pool #SL0797 6.00% 2/1/2055 <sup>(e)</sup>  | 171 | 175 |
| Freddie Mac Pool #SD8507 6.00% 2/1/2055 <sup>(e)</sup>  | 84 | 85 |
| Freddie Mac Pool #SD8515 5.50% 3/1/2055 <sup>(e)</sup>  | 8 | 8 |
| Freddie Mac Pool #SD8516 6.00% 3/1/2055 <sup>(e)</sup>  | 12 | 13 |
| Freddie Mac Pool #SD8517 6.50% 3/1/2055 <sup>(e)</sup>  | 3033 | 3134 |
| Freddie Mac Pool #SL1094 5.00% 4/1/2055 <sup>(e)</sup>  | 12 | 12 |
| Freddie Mac Pool #SD8525 6.00% 4/1/2055 <sup>(e)</sup>  | 350 | 356 |
| Freddie Mac Pool #SD8532 5.00% 5/1/2055 <sup>(e)</sup>  | 20 | 19 |
| Freddie Mac Pool #SD8534 6.00% 5/1/2055 <sup>(e)</sup>  | 92 | 93 |
| Freddie Mac Pool #RQ0012 5.00% 6/1/2055 <sup>(e)</sup>  | 15 | 15 |
| Freddie Mac Pool #RQ0013 5.50% 6/1/2055 <sup>(e)</sup>  | 1 | 1 |
| Freddie Mac Pool #RQ0028 6.00% 7/1/2055 <sup>(e)</sup>  | 79 | 80 |
| Freddie Mac, Series K156, Class A2, Multi Family, 4.43% 2/25/2033 <sup>(e)(f)</sup>  | 160 | 160 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-1, Class HA, 3.00% 1/25/2056 <sup>(e)(f)</sup>  | 89 | 84 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-2, Class MA, 3.00% 8/25/2056 <sup>(e)</sup>  | 187 | 174 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-2, Class HA, 3.00% 8/25/2056 <sup>(e)(f)</sup>  | 180 | 169 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-4, Class HT, 3.25% 6/25/2057 <sup>(e)(f)</sup>  | 81 | 73 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-4, Class MT, 3.50% 6/25/2057 <sup>(e)</sup>  | 68 | 61 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2018-3, Class MA, 3.50% 8/25/2057 <sup>(e)</sup>  | 13 | 13 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-1, Class MT, 3.50% 7/25/2058 <sup>(e)</sup>  | 837 | 749 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-1, Class MA, 3.50% 7/25/2058 <sup>(e)</sup>  | 289 | 278 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-2, Class MA, 3.50% 8/25/2058 <sup>(e)</sup>  | 457 | 437 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-3, Class MA, 3.50% 10/25/2058 <sup>(e)</sup>  | 12 | 12 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-3, Class MT, 3.50% 10/25/2058 <sup>(e)</sup>  | 8 | 7 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2018-2, Class A1, 3.50% 11/25/2028 <sup>(e)</sup>  | 688 | 669 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2019-2, Class A1C, 2.75% 9/25/2029 <sup>(e)</sup>  | 995 | 946 |
| Government National Mortgage Assn. 5.50% 7/1/2055 <sup>(e)(g)</sup>  | 609 | 610 |
| Government National Mortgage Assn. Pool #MA5764 4.50% 2/20/2049 <sup>(e)</sup>  | 160 | 156 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **76** |

---

------

Capital Income Builder (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** |  |  |
| Government National Mortgage Assn. Pool #MA8267 4.00% 9/20/2052 <sup>(e)</sup>  | USD2,792 | $2611 |
| Government National Mortgage Assn. Pool #MA8346 4.00% 10/20/2052 <sup>(e)</sup>  | 59 | 55 |
| Government National Mortgage Assn. Pool #MA8723 4.00% 3/20/2053 <sup>(e)</sup>  | 208 | 194 |
| Government National Mortgage Assn. Pool #MA8947 5.00% 6/20/2053 <sup>(e)</sup>  | 380 | 375 |
| Government National Mortgage Assn. Pool #MA9016 5.00% 7/20/2053 <sup>(e)</sup>  | 1022 | 1007 |
| Government National Mortgage Assn. Pool #MA9776 4.00% 7/20/2054 <sup>(e)</sup>  | 25 | 23 |
| Government National Mortgage Assn. Pool #694836 5.683% 9/20/2059 <sup>(e)</sup>  | — <br><sup>(c)</sup><br>| — <br><sup>(c)</sup><br>|
| Government National Mortgage Assn. Pool #725893 5.20% 9/20/2064 <sup>(e)</sup>  | — <br><sup>(c)</sup><br>| — <br><sup>(c)</sup><br>|
| Uniform Mortgage-Backed Security 2.50% 7/1/2055 <sup>(e)(g)</sup>  | 1951 | 1618 |
| Uniform Mortgage-Backed Security 3.50% 7/1/2055 <sup>(e)(g)</sup>  | 1431 | 1289 |
| Uniform Mortgage-Backed Security 4.00% 7/1/2055 <sup>(e)(g)</sup>  | 88 | 82 |
| Uniform Mortgage-Backed Security 4.50% 7/1/2055 <sup>(e)(g)</sup>  | 164 | 157 |
| Uniform Mortgage-Backed Security 5.00% 7/1/2055 <sup>(e)(g)</sup>  | 162 | 159 |
| Uniform Mortgage-Backed Security 5.50% 7/1/2055 <sup>(e)(g)</sup>  | 191 | 191 |
| Uniform Mortgage-Backed Security 6.00% 7/1/2055 <sup>(e)(g)</sup>  | 1703 | 1731 |
| Uniform Mortgage-Backed Security 7.00% 7/1/2055 <sup>(e)(g)</sup>  | 3754 | 3953 |
| Uniform Mortgage-Backed Security 2.00% 8/1/2055 <sup>(e)(g)</sup>  | 51 | 40 |
| Uniform Mortgage-Backed Security 3.00% 8/1/2055 <sup>(e)(g)</sup>  | 872 | 754 |
| Uniform Mortgage-Backed Security 4.00% 8/1/2055 <sup>(e)(g)</sup>  | 187 | 174 |
| Uniform Mortgage-Backed Security 6.00% 8/1/2055 <sup>(e)(g)</sup>  | 156 | 158 |
| Uniform Mortgage-Backed Security 6.50% 8/1/2055 <sup>(e)(g)</sup>  | 154 | 159 |
| Uniform Mortgage-Backed Security 7.00% 8/1/2055 <sup>(e)(g)</sup>  | 243 | 255 |
|  |  | 72469 |
| **Commercial mortgage-backed securities 0.47%** |  |  |
| Atrium Hotel Portfolio Trust, Series 2024-ATRM, Class A, 5.409% 11/10/2029 <sup>(e)(f)(h)</sup>  | 296 | 302 |
| Benchmark Mortgage Trust, Series 2024-V5, Class AM, 6.417% 1/10/2057 <sup>(e)</sup>  | 41 | 43 |
| BMO Mortgage Trust, Series 2024-5C5, Class AS, 6.364% 2/15/2057 <sup>(e)(f)</sup>  | 122 | 128 |
| BX Trust, Series 2022-CSMO, Class A, (1-month USD CME Term SOFR + 2.115%) 6.427% 6/15/2027 <sup>(e)(f)(h)</sup>  | 332 | 334 |
| BX Trust, Series 2024-KING, Class A, (1-month USD CME Term SOFR + 1.541%) 5.853% 5/15/2034 <sup>(e)(f)(h)</sup>  | 105 | 106 |
| BX Trust, Series 2021-VOLT, Class A, (1-month USD CME Term SOFR + 0.814%) 5.126% 9/15/2036 <sup>(e)(f)(h)</sup>  | 628 | 626 |
| BX Trust, Series 2021-ARIA, Class C, (1-month USD CME Term SOFR + 1.76%) 6.072% 10/15/2036 <sup>(e)(f)(h)</sup>  | 100 | 100 |
| BX Trust, Series 2022-IND, Class A, (1-month USD CME Term SOFR + 1.491%) 5.803% 4/15/2037 <sup>(e)(f)(h)</sup>  | 97 | 97 |
| BX Trust, Series 2021-SOAR, Class A, (1-month USD CME Term SOFR + 0.784%) 5.096% 6/15/2038 <sup>(e)(f)(h)</sup>  | 152 | 152 |
| BX Trust, Series 2021-SOAR, Class D, (1-month USD CME Term SOFR + 1.514%) 5.826% 6/15/2038 <sup>(e)(f)(h)</sup>  | 88 | 88 |
| BX Trust, Series 2021-ACNT, Class C, (1-month USD CME Term SOFR + 1.614%) 5.926% 11/15/2038 <sup>(e)(f)(h)</sup>  | 86 | 86 |
| BX Trust, Series 2024-AIRC, Class A, (1-month USD CME Term SOFR + 1.691%) 6.003% 8/15/2039 <sup>(e)(f)(h)</sup>  | 176 | 177 |
| BX Trust, Series 2022-PSB, Class A, (1-month USD CME Term SOFR + 2.451%) 6.763% 8/15/2039 <sup>(e)(f)(h)</sup>  | 39 | 39 |
| BX Trust, Series 2024-BIO2, Class A, 5.594% 8/13/2041 <sup>(e)(f)(h)</sup>  | 590 | 599 |
| CALI Mortgage Trust, Series 24-SUN, Class A, (1-month USD CME Term SOFR + 1.89%) 6.203% <br> 7/15/2041 <sup>(e)(f)(h)</sup>  | 100 | 100 |
| CART, Series 2024-DFW1, Class A, (1-month USD CME Term SOFR + 1.642%) 5.984% 8/15/2041 <sup>(e)(f)(h)</sup>  | 120 | 120 |
| Citigroup Commercial Mortgage Trust, Series 2023-SMRT, Class A, 6.015% 10/12/2040 <sup>(e)(f)(h)</sup>  | 237 | 245 |
| DATA 2023-CNTR Mortgage Trust, Series 2023-CNTR, Class A, 5.919% 8/12/2043 <sup>(e)(f)(h)</sup>  | 574 | 582 |
| ELM Trust 2024, Series 2024-ELM, Class B10, 6.195% 6/10/2039 <sup>(e)(f)(h)</sup>  | 213 | 215 |
| ELM Trust 2024, Series 2024-ELM, Class B15, 6.195% 6/10/2039 <sup>(e)(f)(h)</sup>  | 191 | 192 |
| ELM Trust 2024, Series 2024-ELM, Class C15, 6.396% 6/10/2039 <sup>(e)(f)(h)</sup>  | 133 | 134 |
| ELM Trust 2024, Series 2024-ELM, Class C10, 6.396% 6/10/2039 <sup>(e)(f)(h)</sup>  | 120 | 121 |
| ELM Trust 2024, Series 2024-ELM, Class D10, 6.847% 6/10/2039 <sup>(e)(f)(h)</sup>  | 100 | 100 |
| ELM Trust 2024, Series 2024-ELM, Class D15, 6.897% 6/10/2039 <sup>(e)(f)(h)</sup>  | 100 | 100 |
| FIVE Mortgage Trust, Series 2023-V1, Class A3, 5.668% 2/10/2056 <sup>(e)</sup>  | 73 | 75 |
| GS Mortgage Securities Trust, Series 2024-70P, Class A, 5.487% 3/10/2041 <sup>(e)(f)(h)</sup>  | 592 | 596 |
| Houston Galleria Mall Trust, Series 2025-HGLR, Class A, 5.644% 2/5/2045 <sup>(e)(f)(h)</sup>  | 329 | 338 |
| HTL Commercial Mortgage Trust, Series 2024-T53, Class A, 5.875% 5/10/2039 <sup>(e)(f)(h)</sup>  | 100 | 101 |
| HTL Commercial Mortgage Trust, Series 2024-T53, Class B, 6.555% 5/10/2039 <sup>(e)(f)(h)</sup>  | 243 | 245 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **77** | American Funds Insurance Series |

---

------

Capital Income Builder (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Commercial mortgage-backed securities (continued)** |  |  |
| Hudson Yards Mortgage Trust, Series 2025-SPRL, Class A, 5.649% 1/13/2040 <sup>(e)(f)(h)</sup>  | USD541 | $558 |
| Multifamily Connecticut Avenue Securities, Series 2024-01, Class M7, (30-day Average USD-SOFR + 2.75%) <br> 7.055% 7/25/2054 <sup>(e)(f)(h)</sup>  | 110 | 111 |
| SWCH Commercial Mortgage Trust, Series 2025-DATA, Class D, (1-month USD CME Term SOFR + 2.591%) <br> 6.953% 3/15/2042 <sup>(e)(f)(h)</sup>  | 597 | 592 |
|  |  | 7402 |
| **Collateralized mortgage-backed obligations (privately originated) 0.47%** |  |  |
| Arroyo Mortgage Trust, Series 2021-1R, Class A1, 1.175% 10/25/2048 <sup>(e)(f)(h)</sup>  | 86 | 78 |
| Atlas SP, Series 2024-RPL1, Class A1, 3.85% 4/25/2064 (4.85% on 8/1/2028) <sup>(e)(h)(i)</sup>  | 514 | 498 |
| BINOM Securitization Trust, Series 2022-RPL1, Class A1, 3.00% 2/25/2061 <sup>(e)(f)(h)</sup>  | 60 | 56 |
| Cascade Funding Mortgage Trust, Series 2024-HB15, Class A, 4.00% 8/25/2034 <sup>(e)(f)(h)</sup>  | 175 | 173 |
| Cascade Funding Mortgage Trust, Series 2024-RM5, Class A, 4.00% 10/25/2054 <sup>(e)(f)(h)</sup>  | 398 | 390 |
| CIM Trust, Series 2022-R2, Class A1, 3.75% 12/25/2061 <sup>(e)(f)(h)</sup>  | 139 | 133 |
| Citigroup Mortgage Loan Trust, Series 2020-EXP1, Class A1A, 1.804% 5/25/2060 <sup>(e)(f)(h)</sup>  | 6 | 6 |
| Connecticut Avenue Securities Trust, Series 2023-R01, Class 1M1, (30-day Average USD-SOFR + 2.40%) <br> 6.705% 12/25/2042 <sup>(e)(f)(h)</sup>  | 28 | 29 |
| Connecticut Avenue Securities Trust, Series 2023-R05, Class 1M1, (30-day Average USD-SOFR + 1.90%) <br> 6.205% 6/25/2043 <sup>(e)(f)(h)</sup>  | 244 | 246 |
| Connecticut Avenue Securities Trust, Series 2023-R06, Class 1M1, (30-day Average USD-SOFR + 1.70%) <br> 6.005% 7/25/2043 <sup>(e)(f)(h)</sup>  | 82 | 82 |
| Connecticut Avenue Securities Trust, Series 2024-R04, Class 1M1, (30-day Average USD-SOFR + 1.10%) <br> 5.405% 5/25/2044 <sup>(e)(f)(h)</sup>  | 66 | 66 |
| Connecticut Avenue Securities Trust, Series 2024-R06, Class 1M2, (30-day Average USD-SOFR + 1.60%) <br> 5.905% 9/25/2044 <sup>(e)(f)(h)</sup>  | 87 | 87 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA6, Class M1A, (30-day Average <br> USD-SOFR + 2.15%) 6.455% 9/25/2042 <sup>(e)(f)(h)</sup>  | 11 | 12 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA6, Class M1B, (30-day Average <br> USD-SOFR + 3.70%) 8.005% 9/25/2042 <sup>(e)(f)(h)</sup>  | 64 | 67 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2024-DNA2, Class M1, (30-day Average <br> USD-SOFR + 1.20%) 5.505% 5/25/2044 <sup>(e)(f)(h)</sup>  | 208 | 209 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2024-DNA3, Class M2, (30-day Average <br> USD-SOFR + 1.45%) 5.755% 10/25/2044 <sup>(e)(f)(h)</sup>  | 90 | 90 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-DNA1, Class M2, <br>(30-day Average USD-SOFR + 1.814%) 6.12% 1/25/2050 <sup>(e)(f)(h)</sup>  | 7 | 7 |
| GCAT Trust, Series 2024-NQM2, Class A1, 6.085% 6/25/2059 (7.359% on 5/1/2028) <sup>(e)(h)(i)</sup>  | 97 | 98 |
| Home Partners of America Trust, Series 2022-1, Class A, 3.93% 4/17/2039 <sup>(e)(h)</sup>  | 59 | 58 |
| HOMES Trust, Series 2024-NQM1, Class A1, 5.915% 7/25/2069 (6.915% on 7/1/2028) <sup>(e)(h)(i)</sup>  | 765 | 770 |
| Legacy Mortgage Asset Trust, Series 2021-GS2, Class A1, 5.75% 4/25/2061 <sup>(e)(h)</sup>  | 57 | 57 |
| Legacy Mortgage Asset Trust, Series 2021-GS5, Class A1, 2.25% 7/25/2067 (6.25% on 11/25/2025) <sup>(e)(h)(i)</sup>  | 96 | 96 |
| MFRA Trust, Series 2024-NQM2, Class A1, 5.272% 8/25/2069 (6.272% on 8/1/2028) <sup>(e)(h)(i)</sup>  | 516 | 514 |
| Morgan Stanley Residential Mortgage Loan Trust, Series 2024-NQM2, Class A1, 6.386% 5/25/2069 (7.386% <br> on 5/1/2028) <sup>(e)(h)(i)</sup>  | 119 | 120 |
| Onslow Bay Financial Mortgage Loan Trust, Series 2024-HYB1, Class A1, 3.645% 3/25/2053 <sup>(e)(f)(h)</sup>  | 152 | 150 |
| Onslow Bay Financial, LLC, Series 2024-NQM7, Class A1, 6.243% 3/25/2064 (7.243% on 4/1/2028) <sup>(e)(h)(i)</sup>  | 172 | 174 |
| Onslow Bay Financial, LLC, Series 2024-NQM8, Class A1, 6.233% 5/25/2064 (7.233% on 5/1/2028) <sup>(e)(h)(i)</sup>  | 387 | 391 |
| Onslow Bay Financial, LLC, Series 2024-NQM11, Class A1, 5.875% 6/25/2064 (6.825% on 7/1/2028) <sup>(e)(h)(i)</sup>  | 969 | 975 |
| Progress Residential Trust, Series 2024-SFR5, Class B, 3.25% 8/9/2029 <sup>(e)(h)</sup>  | 554 | 520 |
| Progress Residential Trust, Series 2022-SFR3, Class A, 3.20% 4/17/2039 <sup>(e)(h)</sup>  | 96 | 93 |
| Starwood Mortgage Residential Trust, Series 2024-SFR4, Class A, (1-month USD CME Term SOFR + 1.75%) <br> 6.062% 10/17/2041 <sup>(e)(f)(h)</sup>  | 140 | 141 |
| Towd Point Mortgage Trust, Series 2017-6, Class A1, 2.75% 10/25/2057 <sup>(e)(f)(h)</sup>  | 18 | 17 |
| Towd Point Mortgage Trust, Series 2018-2, Class A1, 3.25% 3/25/2058 <sup>(e)(f)(h)</sup>  | 16 | 16 |
| Towd Point Mortgage Trust, Series 2018-5, Class A1A, 3.25% 7/25/2058 <sup>(e)(f)(h)</sup>  | 9 | 9 |
| Towd Point Mortgage Trust, Series 2020-4, Class A1, 1.75% 10/25/2060 <sup>(e)(h)</sup>  | 329 | 299 |
| Treehouse Park Improvement Association No.1 9.75% 12/1/2033 <sup>(b)(h)</sup>  | 100 | 100 |
| Tricon Residential Trust, Series 2021-SFR1, Class A, 1.943% 7/17/2038 <sup>(e)(h)</sup>  | 195 | 190 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **78** |

---

------

Capital Income Builder (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Collateralized mortgage-backed obligations (privately originated) (continued)** |  |  |
| Tricon Residential Trust, Series 2024-SFR2, Class A, 4.75% 6/17/2040 <sup>(e)(h)</sup>  | USD167 | $167 |
| Verus Securitization Trust, Series 2024-4, Class A1, 6.218% 6/25/2069 (7.218% on 5/1/2028) <sup>(e)(h)(i)</sup>  | 77 | 78 |
| Verus Securitization Trust, Series 2024-8, Class A1, 5.364% 10/25/2069 <sup>(e)(f)(h)</sup>  | 98 | 98 |
|  |  | 7360 |
| **Total mortgage-backed obligations** |  | 87231 |
| **U.S. Treasury bonds & notes 4.93%** | **U.S. Treasury bonds & notes 4.93%** | **U.S. Treasury bonds & notes 4.93%** |
| **U.S. Treasury 4.93%** |  |  |
| U.S. Treasury 4.00% 2/15/2026  | 2369 | 2367 |
| U.S. Treasury 0.75% 3/31/2026  | 1 | 1 |
| U.S. Treasury 0.75% 5/31/2026  | 3850 | 3737 |
| U.S. Treasury 1.875% 6/30/2026  | 3855 | 3775 |
| U.S. Treasury 1.125% 10/31/2026  | 995 | 960 |
| U.S. Treasury 2.00% 11/15/2026 <sup>(j)</sup>  | 2800 | 2731 |
| U.S. Treasury 4.625% 11/15/2026  | 1200 | 1212 |
| U.S. Treasury 4.00% 1/15/2027 <sup>(j)</sup>  | 6541 | 6557 |
| U.S. Treasury 0.50% 4/30/2027  | 2375 | 2240 |
| U.S. Treasury 2.625% 5/31/2027  | 80 | 78 |
| U.S. Treasury 3.875% 5/31/2027  | 3009 | 3016 |
| U.S. Treasury 3.75% 6/30/2027  | 11364 | 11371 |
| U.S. Treasury 4.00% 2/29/2028  | 745 | 751 |
| U.S. Treasury 1.25% 3/31/2028  | 1350 | 1264 |
| U.S. Treasury 3.625% 3/31/2028  | 4 | 4 |
| U.S. Treasury 3.875% 6/15/2028  | 7447 | 7486 |
| U.S. Treasury 4.00% 7/31/2029  | 25 | 25 |
| U.S. Treasury 6.25% 5/15/2030  | 345 | 382 |
| U.S. Treasury 4.00% 5/31/2030  | 917 | 955 |
| U.S. Treasury 3.875% 6/30/2030  | 10178 | 10217 |
| U.S. Treasury 4.00% 6/30/2032  | 7532 | 7536 |
| U.S. Treasury 4.125% 11/15/2032  | 9 | 9 |
| U.S. Treasury 4.375% 5/15/2034  | 18 | 18 |
| U.S. Treasury 4.25% 5/15/2035  | 3046 | 3050 |
| U.S. Treasury 4.50% 8/15/2039  | 1045 | 1041 |
| U.S. Treasury 4.75% 2/15/2041  | 1730 | 1753 |
| U.S. Treasury 2.00% 11/15/2041 <sup>(j)</sup>  | 300 | 206 |
| U.S. Treasury 5.00% 5/15/2045  | 585 | 601 |
| U.S. Treasury 2.375% 5/15/2051 <sup>(j)</sup>  | 196 | 125 |
| U.S. Treasury 4.00% 11/15/2052  | 152 | 133 |
| U.S. Treasury 4.625% 2/15/2055 <sup>(j)</sup>  | 3276 | 3189 |
| U.S. Treasury 4.75% 5/15/2055  | 310 | 308 |
| **Total U.S. Treasury bonds & notes** |  | 77098 |
| **Corporate bonds, notes & loans 2.47%** | **Corporate bonds, notes & loans 2.47%** | **Corporate bonds, notes & loans 2.47%** |
| **Financials 0.47%** |  |  |
| Aero Capital Solutions, Inc., Term Loan, (1-month USD CME Term SOFR + 3.00%) <br>7.61% 11/17/2029 <sup>(b)(f)(h)(k)</sup>  | 264 | 262 |
| American Express Co. 4.90% 2/13/2026  | 28 | 28 |
| American Express Co. 5.085% 1/30/2031 (USD-SOFR + 1.02% on 1/30/2030) <sup>(i)</sup>  | 50 | 51 |
| American Express Co. 5.442% 1/30/2036 (USD-SOFR + 1.32% on 1/30/2035) <sup>(i)</sup>  | 28 | 29 |
| American International Group, Inc. 4.85% 5/7/2030  | 99 | 101 |
| American International Group, Inc. 5.125% 3/27/2033  | 17 | 17 |
| Aon Corp. 5.35% 2/28/2033  | 21 | 22 |
| Arthur J. Gallagher & Co. 4.85% 12/15/2029  | 125 | 127 |
| Arthur J. Gallagher & Co. 5.00% 2/15/2032  | 50 | 51 |
| Bank of America Corp. 2.884% 10/22/2030 (3-month USD CME Term SOFR + 1.19% on 10/22/2029) <sup>(i)</sup>  | 26 | 24 |
| Bank of America Corp. 5.162% 1/24/2031 (USD-SOFR + 1.00% on 1/24/2030) <sup>(i)</sup>  | 238 | 244 |
| Bank of America Corp. 5.288% 4/25/2034 (USD-SOFR + 1.91% on 4/25/2033) <sup>(i)</sup>  | 118 | 120 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **79** | American Funds Insurance Series |

---

------

Capital Income Builder (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Financials (continued)** |  |  |
| Bank of America Corp. 5.511% 1/24/2036 (USD-SOFR + 1.31% on 1/24/2035) <sup>(i)</sup>  | USD75 | $77 |
| CaixaBank, SA 5.673% 3/15/2030 (USD-SOFR + 1.78% on 3/15/2029) <sup>(h)(i)</sup>  | 400 | 414 |
| CaixaBank, SA 6.037% 6/15/2035 (USD-SOFR + 2.26% on 9/15/2034) <sup>(h)(i)</sup>  | 200 | 209 |
| Capital One Financial Corp. 6.377% 6/8/2034 (USD-SOFR + 2.86% on 6/8/2033) <sup>(i)</sup>  | 45 | 48 |
| Capital One Financial Corp. 6.051% 2/1/2035 (USD-SOFR + 2.26% on 2/1/2034) <sup>(i)</sup>  | 95 | 99 |
| Chubb INA Holdings, LLC 5.00% 3/15/2034  | 35 | 36 |
| Citigroup, Inc. 5.174% 2/13/2030 (USD-SOFR + 1.364% on 2/13/2029) <sup>(i)</sup>  | 50 | 51 |
| Citigroup, Inc. 4.542% 9/19/2030 (USD-SOFR + 1.338% on 9/19/2029) <sup>(i)</sup>  | 36 | 36 |
| Citigroup, Inc. 3.057% 1/25/2033 (USD-SOFR + 1.351% on 1/25/2032) <sup>(i)</sup>  | 35 | 31 |
| Citigroup, Inc. 6.02% 1/24/2036 (USD-SOFR + 1.83% on 1/24/2035) <sup>(i)</sup>  | 44 | 45 |
| Citigroup, Inc. 5.333% 3/27/2036 (USD-SOFR + 1.465% on 3/27/2035) <sup>(i)</sup>  | 55 | 56 |
| Citizens Financial Group, Inc. 5.841% 1/23/2030 (USD-SOFR + 2.01% on 1/23/2029) <sup>(i)</sup>  | 120 | 124 |
| Corebridge Financial, Inc. 3.85% 4/5/2029  | 180 | 176 |
| Corebridge Financial, Inc. 3.90% 4/5/2032  | 32 | 30 |
| Corebridge Financial, Inc. 4.35% 4/5/2042  | 7 | 6 |
| Danske Bank AS 4.298% 4/1/2028 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.75% on <br>4/1/2027) <sup>(h)(i)</sup>  | 200 | 199 |
| Deutsche Bank AG 6.819% 11/20/2029 (USD-SOFR + 2.51% on 11/20/2028) <sup>(i)</sup>  | 300 | 320 |
| Deutsche Bank AG 4.999% 9/11/2030 (USD-SOFR + 1.70% on 9/11/2029) <sup>(i)</sup>  | 150 | 151 |
| Fifth Third Bancorp 6.339% 7/27/2029 (USD-SOFR + 2.34% on 7/27/2028) <sup>(i)</sup>  | 5 | 5 |
| Goldman Sachs Group, Inc. 4.937% 4/23/2028 (USD-SOFR + 1.319% on 4/23/2027) <sup>(i)</sup>  | 45 | 45 |
| Goldman Sachs Group, Inc. 5.727% 4/25/2030 (USD-SOFR + 1.265% on 4/25/2029) <sup>(i)</sup>  | 60 | 63 |
| Goldman Sachs Group, Inc. 5.218% 4/23/2031 (USD-SOFR + 1.58% on 4/23/2030) <sup>(i)</sup>  | 40 | 41 |
| Goldman Sachs Group, Inc. 5.536% 1/28/2036 (USD-SOFR + 1.38% on 1/28/2035) <sup>(i)</sup>  | 197 | 202 |
| JPMorgan Chase & Co. 4.979% 7/22/2028 (USD-SOFR + 0.93% on 7/22/2027) <sup>(i)</sup>  | 65 | 66 |
| JPMorgan Chase & Co. 5.581% 4/22/2030 (USD-SOFR + 1.16% on 4/22/2029) <sup>(i)</sup>  | 50 | 52 |
| JPMorgan Chase & Co. 4.995% 7/22/2030 (USD-SOFR + 1.125% on 7/22/2029) <sup>(i)</sup>  | 198 | 202 |
| JPMorgan Chase & Co. 5.103% 4/22/2031 (USD-SOFR + 1.435% on 4/22/2030) <sup>(i)</sup>  | 52 | 53 |
| JPMorgan Chase & Co. 1.953% 2/4/2032 (USD-SOFR + 1.065% on 2/4/2031) <sup>(i)</sup>  | 20 | 17 |
| JPMorgan Chase & Co. 5.294% 7/22/2035 (USD-SOFR + 1.46% on 7/22/2034) <sup>(i)</sup>  | 328 | 334 |
| JPMorgan Chase & Co. 5.572% 4/22/2036 (USD-SOFR + 1.68% on 4/22/2035) <sup>(i)</sup>  | 162 | 168 |
| Marsh & McLennan Cos., Inc. 5.00% 3/15/2035  | 25 | 25 |
| Marsh & McLennan Cos., Inc. 5.40% 3/15/2055  | 25 | 24 |
| Mastercard, Inc. 4.875% 3/9/2028  | 31 | 32 |
| Morgan Stanley 5.652% 4/13/2028 (USD-SOFR + 1.01% on 4/13/2027) <sup>(i)</sup>  | 25 | 26 |
| Morgan Stanley 4.994% 4/12/2029 (USD-SOFR + 1.38% on 4/12/2028) <sup>(i)</sup>  | 10 | 10 |
| Morgan Stanley 5.656% 4/18/2030 (USD-SOFR + 1.26% on 4/18/2029) <sup>(i)</sup>  | 140 | 145 |
| Morgan Stanley 4.654% 10/18/2030 (USD-SOFR + 1.10% on 10/18/2029) <sup>(i)</sup>  | 488 | 489 |
| Morgan Stanley 5.424% 7/21/2034 (USD-SOFR + 1.88% on 7/21/2033) <sup>(i)</sup>  | 35 | 36 |
| Morgan Stanley 5.32% 7/19/2035 (USD-SOFR + 1.555% on 7/19/2034) <sup>(i)</sup>  | 57 | 58 |
| Morgan Stanley 5.587% 1/18/2036 (USD-SOFR + 1.418% on 1/18/2035) <sup>(i)</sup>  | 38 | 39 |
| Morgan Stanley 5.664% 4/17/2036 (USD-SOFR + 1.757% on 4/17/2035) <sup>(i)</sup>  | 92 | 95 |
| Navient Corp. 5.00% 3/15/2027  | 150 | 150 |
| New York Life Global Funding 3.00% 1/10/2028 <sup>(h)</sup>  | 150 | 146 |
| OneMain Finance Corp. 6.625% 5/15/2029  | 340 | 350 |
| PNC Financial Services Group, Inc. 5.582% 6/12/2029 (USD-SOFR + 1.841% on 6/12/2028) <sup>(i)</sup>  | 50 | 52 |
| Ryan Specialty, LLC 5.875% 8/1/2032 <sup>(h)</sup>  | 100 | 101 |
| Truist Financial Corp. 5.435% 1/24/2030 (USD-SOFR + 1.62% on 1/24/2029) <sup>(i)</sup>  | 11 | 11 |
| Truist Financial Corp. 5.153% 8/5/2032 (USD-SOFR + 1.571% on 8/5/2031) <sup>(i)</sup>  | 50 | 51 |
| Truist Financial Corp. 5.867% 6/8/2034 (USD-SOFR + 2.361% on 6/8/2033) <sup>(i)</sup>  | 10 | 10 |
| Truist Financial Corp. 5.711% 1/24/2035 (USD-SOFR + 1.922% on 1/24/2034) <sup>(i)</sup>  | 40 | 42 |
| U.S. Bancorp 5.775% 6/12/2029 (USD-SOFR + 2.02% on 6/12/2028) <sup>(i)</sup>  | 70 | 73 |
| U.S. Bancorp 5.384% 1/23/2030 (USD-SOFR + 1.56% on 1/23/2029) <sup>(i)</sup>  | 85 | 88 |
| UBS Group AG 5.617% 9/13/2030 (1-year USD-ICE SOFR Swap + 1.34% on 9/13/2029) <sup>(h)(i)</sup>  | 200 | 208 |
| UBS Group AG 4.194% 4/1/2031 (USD-SOFR + 3.73% on 4/1/2030) <sup>(h)(i)</sup>  | 374 | 366 |
| Wells Fargo & Co. 5.707% 4/22/2028 (USD-SOFR + 1.07% on 4/22/2027) <sup>(i)</sup>  | 98 | 100 |
| Wells Fargo & Co. 5.15% 4/23/2031 (USD-SOFR + 1.50% on 4/23/2030) <sup>(i)</sup>  | 55 | 56 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **80** |

---

------

Capital Income Builder (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Financials (continued)** |  |  |
| Wells Fargo & Co. 6.491% 10/23/2034 (USD-SOFR + 2.06% on 10/23/2033) <sup>(i)</sup>  | USD104 | $114 |
| Wells Fargo & Co. 5.211% 12/3/2035 (USD-SOFR + 1.38% on 12/3/2034) <sup>(i)</sup>  | 25 | 25 |
| Wells Fargo & Co. 5.605% 4/23/2036 (USD-SOFR + 1.74% on 4/23/2035) <sup>(i)</sup>  | 56 | 58 |
|  |  | 7412 |
| **Health care 0.34%** |  |  |
| AbbVie, Inc. 5.05% 3/15/2034  | 175 | 178 |
| AbbVie, Inc. 5.35% 3/15/2044  | 25 | 25 |
| AbbVie, Inc. 5.40% 3/15/2054  | 240 | 234 |
| AbbVie, Inc. 5.50% 3/15/2064  | 25 | 24 |
| Amgen, Inc. 5.507% 3/2/2026  | 30 | 30 |
| Amgen, Inc. 5.15% 3/2/2028  | 55 | 56 |
| Amgen, Inc. 4.05% 8/18/2029  | 100 | 99 |
| Amgen, Inc. 5.25% 3/2/2030  | 124 | 128 |
| Amgen, Inc. 4.20% 3/1/2033  | 133 | 128 |
| Amgen, Inc. 5.25% 3/2/2033  | 71 | 73 |
| Amgen, Inc. 5.60% 3/2/2043  | 105 | 104 |
| Amgen, Inc. 4.20% 2/22/2052  | 19 | 15 |
| Amgen, Inc. 4.875% 3/1/2053  | 25 | 22 |
| Amgen, Inc. 5.65% 3/2/2053  | 37 | 36 |
| Amgen, Inc. 5.75% 3/2/2063  | 85 | 83 |
| AstraZeneca Finance, LLC 5.00% 2/26/2034  | 50 | 51 |
| Baxter International, Inc. 3.132% 12/1/2051  | 25 | 16 |
| Bristol-Myers Squibb Co. 4.90% 2/22/2029  | 95 | 97 |
| Bristol-Myers Squibb Co. 5.10% 2/22/2031  | 260 | 269 |
| Bristol-Myers Squibb Co. 5.20% 2/22/2034  | 295 | 302 |
| Bristol-Myers Squibb Co. 5.50% 2/22/2044  | 25 | 25 |
| Bristol-Myers Squibb Co. 5.55% 2/22/2054  | 325 | 317 |
| Bristol-Myers Squibb Co. 5.65% 2/22/2064  | 100 | 97 |
| Centene Corp. 4.625% 12/15/2029  | 530 | 516 |
| Centene Corp. 2.625% 8/1/2031  | 40 | 34 |
| CVS Health Corp. 5.125% 2/21/2030  | 50 | 51 |
| CVS Health Corp. 5.25% 2/21/2033  | 23 | 23 |
| CVS Health Corp. 5.70% 6/1/2034  | 97 | 100 |
| CVS Health Corp. 6.00% 6/1/2044  | 50 | 50 |
| CVS Health Corp. 5.625% 2/21/2053  | 55 | 51 |
| CVS Health Corp. 6.05% 6/1/2054  | 50 | 49 |
| Elevance Health, Inc. 4.95% 11/1/2031  | 30 | 30 |
| Elevance Health, Inc. 5.20% 2/15/2035  | 13 | 13 |
| Gilead Sciences, Inc. 1.65% 10/1/2030  | 8 | 7 |
| HCA, Inc. 2.375% 7/15/2031  | 18 | 16 |
| Humana, Inc. 3.70% 3/23/2029  | 12 | 12 |
| Humana, Inc. 5.375% 4/15/2031  | 35 | 36 |
| Medline Borrower, LP 6.25% 4/1/2029 <sup>(h)</sup>  | 380 | 391 |
| Merck & Co., Inc. 1.70% 6/10/2027  | 118 | 113 |
| Merck & Co., Inc. 3.40% 3/7/2029  | 110 | 107 |
| Merck & Co., Inc. 4.50% 5/17/2033  | 35 | 35 |
| Merck & Co., Inc. 4.90% 5/17/2044  | 35 | 33 |
| Molina Healthcare, Inc. 3.875% 5/15/2032 <sup>(h)</sup>  | 40 | 36 |
| Pfizer Investment Enterprises Pte., Ltd. 4.65% 5/19/2030  | 10 | 10 |
| Pfizer Investment Enterprises Pte., Ltd. 4.75% 5/19/2033  | 23 | 23 |
| Pfizer Investment Enterprises Pte., Ltd. 5.30% 5/19/2053  | 17 | 16 |
| Shire Acquisitions Investments Ireland DAC 3.20% 9/23/2026  | 7 | 7 |
| Teva Pharmaceutical Finance Netherlands III BV 5.125% 5/9/2029  | 362 | 364 |
| Teva Pharmaceutical Finance Netherlands III BV 7.875% 9/15/2029  | 600 | 655 |
| Teva Pharmaceutical Finance Netherlands III BV 4.10% 10/1/2046  | 89 | 64 |
|  |  | 5251 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **81** | American Funds Insurance Series |

---

------

Capital Income Builder (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Energy 0.25%** |  |  |
| APA Corp. 4.25% 1/15/2030 <sup>(h)</sup>  | USD385 | $369 |
| Baytex Energy Corp. 7.375% 3/15/2032 <sup>(h)</sup>  | 600 | 573 |
| Cenovus Energy, Inc. 5.40% 6/15/2047  | 44 | 39 |
| Columbia Pipelines Operating Co., LLC 5.927% 8/15/2030 <sup>(h)</sup>  | 9 | 9 |
| ConocoPhillips Co. 5.50% 1/15/2055  | 50 | 47 |
| Crescent Energy Finance, LLC 7.375% 1/15/2033 <sup>(h)</sup>  | 270 | 258 |
| Energy Transfer, LP 6.10% 12/1/2028  | 41 | 43 |
| Energy Transfer, LP 5.25% 7/1/2029  | 23 | 24 |
| Energy Transfer, LP 6.40% 12/1/2030  | 34 | 37 |
| Enterprise Products Operating, LLC 4.95% 2/15/2035  | 6 | 6 |
| EOG Resources, Inc. 5.95% 7/15/2055  | 110 | 112 |
| Equinor ASA 2.375% 5/22/2030  | 365 | 335 |
| Exxon Mobil Corp. 3.452% 4/15/2051  | 210 | 149 |
| Hess Midstream Operations, LP 5.875% 3/1/2028 <sup>(h)</sup>  | 35 | 36 |
| Hilcorp Energy I, LP 6.875% 5/15/2034 <sup>(h)</sup>  | 400 | 384 |
| NFE Financing, LLC 12.00% 11/15/2029 <sup>(h)</sup>  | 148 | 67 |
| Occidental Petroleum Corp. 5.55% 10/1/2034  | 124 | 122 |
| Petroleos Mexicanos 6.50% 1/23/2029  | 20 | 20 |
| Petroleos Mexicanos 8.75% 6/2/2029  | 177 | 183 |
| Saudi Arabian Oil Co. 5.75% 7/17/2054 <sup>(h)</sup>  | 200 | 188 |
| TotalEnergies Capital SA 4.724% 9/10/2034  | 17 | 17 |
| Venture Global Calcasieu Pass, LLC 4.125% 8/15/2031 <sup>(h)</sup>  | 595 | 551 |
| Venture Global Plaquemines LNG, LLC 6.50% 1/15/2034 <sup>(h)</sup>  | 195 | 195 |
| Venture Global Plaquemines LNG, LLC 7.75% 5/1/2035 <sup>(h)</sup>  | 75 | 81 |
|  |  | 3845 |
| **Utilities 0.23%** |  |  |
| AEP Transmission Co., LLC 2.75% 8/15/2051  | 50 | 31 |
| DTE Energy Co. 3.00% 3/1/2032  | 42 | 38 |
| Duke Energy Florida, LLC 5.95% 11/15/2052  | 25 | 26 |
| Edison International 4.125% 3/15/2028  | 132 | 127 |
| Edison International 5.45% 6/15/2029  | 100 | 99 |
| Edison International 5.25% 3/15/2032  | 389 | 369 |
| Electricite de France SA 9.125% junior subordinated perpetual bonds (5-year UST Yield Curve Rate T <br> Note Constant Maturity + 5.411% on 6/15/2033) <sup>(h)(i)</sup>  | 200 | 226 |
| FirstEnergy Corp. 2.65% 3/1/2030  | 393 | 361 |
| FirstEnergy Corp. 2.25% 9/1/2030  | 107 | 95 |
| Florida Power & Light Co. 5.10% 4/1/2033  | 35 | 36 |
| NiSource, Inc. 5.40% 6/30/2033  | 25 | 26 |
| Pacific Gas and Electric Co. 2.95% 3/1/2026  | 97 | 96 |
| Pacific Gas and Electric Co. 3.75% 7/1/2028  | 105 | 102 |
| Pacific Gas and Electric Co. 4.65% 8/1/2028  | 284 | 283 |
| Pacific Gas and Electric Co. 2.50% 2/1/2031  | 375 | 326 |
| Pacific Gas and Electric Co. 6.40% 6/15/2033  | 50 | 52 |
| Pacific Gas and Electric Co. 5.70% 3/1/2035  | 377 | 374 |
| Pacific Gas and Electric Co. 4.95% 7/1/2050  | 162 | 131 |
| Pacific Gas and Electric Co. 3.50% 8/1/2050  | 256 | 164 |
| Pacific Gas and Electric Co. 5.90% 10/1/2054  | 25 | 23 |
| PacifiCorp 5.50% 5/15/2054  | 95 | 87 |
| PacifiCorp 5.80% 1/15/2055  | 25 | 24 |
| Southern California Edison Co. 5.20% 6/1/2034  | 40 | 39 |
| Southern California Edison Co. 3.60% 2/1/2045  | 206 | 142 |
| Southern California Edison Co. 5.90% 3/1/2055  | 30 | 27 |
| Union Electric Co. 3.90% 4/1/2052  | 25 | 19 |
| WEC Energy Group, Inc. 5.15% 10/1/2027  | 25 | 25 |
| Xcel Energy, Inc. 4.75% 3/21/2028  | 264 | 267 |
|  |  | 3615 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **82** |

---

------

Capital Income Builder (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Communication services 0.23%** |  |  |
| America Movil, SAB de CV, 8.46% 12/18/2036  | MXN1,300 | $61 |
| AT&T, Inc. 3.50% 6/1/2041  | USD75 | 59 |
| CCO Holdings, LLC 4.75% 2/1/2032 <sup>(h)</sup>  | 25 | 24 |
| CCO Holdings, LLC 4.25% 1/15/2034 <sup>(h)</sup>  | 655 | 584 |
| Charter Communications Operating, LLC 6.10% 6/1/2029  | 41 | 43 |
| Meta Platforms, Inc. 4.30% 8/15/2029  | 40 | 40 |
| Meta Platforms, Inc. 4.75% 8/15/2034  | 53 | 53 |
| Meta Platforms, Inc. 5.40% 8/15/2054  | 29 | 28 |
| Meta Platforms, Inc. 5.55% 8/15/2064  | 40 | 39 |
| Netflix, Inc. 4.90% 8/15/2034  | 16 | 16 |
| Netflix, Inc. 5.40% 8/15/2054  | 6 | 6 |
| SBA Tower Trust 1.631% 11/15/2026 <sup>(h)</sup>  | 253 | 243 |
| Sirius XM Radio, LLC 4.00% 7/15/2028 <sup>(h)</sup>  | 780 | 750 |
| TEGNA, Inc. 5.00% 9/15/2029  | 360 | 344 |
| T-Mobile USA, Inc. 3.875% 4/15/2030  | 625 | 607 |
| T-Mobile USA, Inc. 2.55% 2/15/2031  | 203 | 182 |
| T-Mobile USA, Inc. 6.00% 6/15/2054  | 69 | 70 |
| Univision Communications, Inc. 7.375% 6/30/2030 <sup>(h)</sup>  | 340 | 334 |
| Verizon Communications, Inc. 1.75% 1/20/2031  | 142 | 123 |
|  |  | 3606 |
| **Consumer discretionary 0.20%** |  |  |
| Advance Auto Parts, Inc. 3.90% 4/15/2030  | 18 | 17 |
| Advance Auto Parts, Inc. 3.50% 3/15/2032  | 12 | 11 |
| Bath & Body Works, Inc. 6.875% 11/1/2035  | 150 | 156 |
| BMW US Capital, LLC 4.15% 4/9/2030 <sup>(h)</sup>  | 290 | 285 |
| BMW US Capital, LLC 3.70% 4/1/2032 <sup>(h)</sup>  | 25 | 23 |
| Carnival Corp. 6.125% 2/15/2033 <sup>(h)</sup>  | 175 | 179 |
| Daimler Trucks Finance North America, LLC 5.15% 1/16/2026 <sup>(h)</sup>  | 150 | 151 |
| Daimler Trucks Finance North America, LLC 5.125% 9/25/2027 <sup>(h)</sup>  | 150 | 152 |
| Daimler Trucks Finance North America, LLC 2.50% 12/14/2031 <sup>(h)</sup>  | 150 | 130 |
| Ford Motor Credit Co., LLC 2.70% 8/10/2026  | 306 | 298 |
| Ford Motor Credit Co., LLC 4.95% 5/28/2027  | 604 | 600 |
| Ford Motor Credit Co., LLC 5.918% 3/20/2028  | 622 | 628 |
| Ford Motor Credit Co., LLC 6.798% 11/7/2028  | 200 | 207 |
| General Motors Financial Co., Inc. 5.45% 9/6/2034  | 27 | 27 |
| Hyundai Capital America 5.275% 6/24/2027 <sup>(h)</sup>  | 55 | 56 |
| McDonald's Corp. 5.15% 9/9/2052  | 10 | 9 |
| Toyota Motor Credit Corp. 5.40% 11/10/2025  | 228 | 229 |
|  |  | 3158 |
| **Industrials 0.19%** |  |  |
| BAE Systems PLC 5.30% 3/26/2034 <sup>(h)</sup>  | 200 | 205 |
| Boeing Co. (The) 2.75% 2/1/2026  | 91 | 90 |
| Boeing Co. (The) 6.259% 5/1/2027  | 376 | 387 |
| Boeing Co. (The) 6.298% 5/1/2029  | 12 | 13 |
| Boeing Co. (The) 3.625% 2/1/2031  | 178 | 168 |
| Boeing Co. (The) 6.388% 5/1/2031  | 92 | 99 |
| Boeing Co. (The) 6.528% 5/1/2034  | 921 | 1001 |
| Boeing Co. (The) 5.805% 5/1/2050  | 136 | 131 |
| Canadian Pacific Railway Co. 3.00% 12/2/2041  | 25 | 18 |
| Canadian Pacific Railway Co. 3.10% 12/2/2051  | 80 | 53 |
| CSX Corp. 4.75% 11/15/2048  | 50 | 44 |
| CSX Corp. 4.50% 11/15/2052  | 35 | 29 |
| Herc Holdings, Inc. 7.25% 6/15/2033 <sup>(h)</sup>  | 90 | 94 |
| L3Harris Technologies, Inc. 5.40% 7/31/2033  | 15 | 15 |
| L3Harris Technologies, Inc. 5.60% 7/31/2053  | 13 | 13 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **83** | American Funds Insurance Series |

---

------

Capital Income Builder (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Industrials (continued)** |  |  |
| Moog, Inc. 4.25% 12/9/2027 <sup>(h)</sup>  | USD55 | $54 |
| Norfolk Southern Corp. 5.35% 8/1/2054  | 51 | 49 |
| Northrop Grumman Corp. 4.95% 3/15/2053  | 21 | 19 |
| QXO Building Products, Inc. 6.75% 4/30/2032 <sup>(h)</sup>  | 190 | 196 |
| Republic Services, Inc. 5.00% 4/1/2034  | 13 | 13 |
| RTX Corp. 6.00% 3/15/2031  | 35 | 38 |
| RTX Corp. 6.10% 3/15/2034  | 27 | 29 |
| RTX Corp. 6.40% 3/15/2054  | 22 | 24 |
| Union Pacific Corp. 2.80% 2/14/2032  | 17 | 15 |
| Union Pacific Corp. 3.50% 2/14/2053  | 20 | 14 |
| Waste Management, Inc. 4.625% 2/15/2030  | 60 | 61 |
| Waste Management, Inc. 4.95% 3/15/2035  | 16 | 16 |
| Waste Management, Inc. 5.35% 10/15/2054  | 25 | 24 |
|  |  | 2912 |
| **Real estate 0.16%** |  |  |
| American Tower Corp. 4.05% 3/15/2032  | 11 | 10 |
| Boston Properties, LP 2.45% 10/1/2033  | 7 | 6 |
| Boston Properties, LP 6.50% 1/15/2034  | 38 | 41 |
| Boston Properties, LP 5.75% 1/15/2035  | 95 | 96 |
| Crown Castle, Inc. 5.00% 1/11/2028  | 54 | 55 |
| Equinix, Inc. 1.55% 3/15/2028  | 25 | 23 |
| Equinix, Inc. 3.20% 11/18/2029  | 144 | 137 |
| Iron Mountain, Inc. 4.50% 2/15/2031 <sup>(h)</sup>  | 530 | 505 |
| Kennedy-Wilson, Inc. 5.00% 3/1/2031  | 550 | 496 |
| Ladder Capital Finance Holdings LLLP 7.00% 7/15/2031 <sup>(h)</sup>  | 20 | 21 |
| MPT Operating Partnership, LP 5.00% 10/15/2027  | 475 | 439 |
| Prologis, LP 5.00% 3/15/2034  | 40 | 40 |
| Service Properties Trust 8.375% 6/15/2029  | 680 | 708 |
|  |  | 2577 |
| **Consumer staples 0.16%** |  |  |
| Altria Group, Inc. 4.875% 2/4/2028  | 13 | 13 |
| Altria Group, Inc. 5.625% 2/6/2035  | 48 | 49 |
| BAT Capital Corp. 4.70% 4/2/2027  | 105 | 105 |
| BAT Capital Corp. 6.343% 8/2/2030  | 9 | 10 |
| BAT Capital Corp. 5.35% 8/15/2032  | 413 | 423 |
| BAT Capital Corp. 6.421% 8/2/2033  | 38 | 41 |
| BAT Capital Corp. 7.079% 8/2/2043  | 31 | 34 |
| BAT Capital Corp. 4.54% 8/15/2047  | 55 | 44 |
| BAT Capital Corp. 4.758% 9/6/2049  | 121 | 100 |
| BAT Capital Corp. 7.081% 8/2/2053  | 69 | 77 |
| BAT International Finance PLC 4.448% 3/16/2028  | 150 | 150 |
| H.J. Heinz Co. 4.875% 10/1/2049  | 235 | 202 |
| Mars, Inc. 4.80% 3/1/2030 <sup>(h)</sup>  | 25 | 25 |
| Mars, Inc. 5.20% 3/1/2035 <sup>(h)</sup>  | 165 | 167 |
| Mars, Inc. 5.65% 5/1/2045 <sup>(h)</sup>  | 71 | 71 |
| Mars, Inc. 5.70% 5/1/2055 <sup>(h)</sup>  | 145 | 145 |
| Mars, Inc. 5.80% 5/1/2065 <sup>(h)</sup>  | 24 | 24 |
| Mondelez International, Inc. 4.75% 8/28/2034  | 127 | 126 |
| Philip Morris International, Inc. 5.125% 11/17/2027  | 43 | 44 |
| Philip Morris International, Inc. 5.625% 11/17/2029  | 23 | 24 |
| Philip Morris International, Inc. 5.125% 2/15/2030  | 56 | 58 |
| Philip Morris International, Inc. 5.50% 9/7/2030  | 70 | 73 |
| Philip Morris International, Inc. 5.75% 11/17/2032  | 16 | 17 |
| Philip Morris International, Inc. 5.375% 2/15/2033  | 55 | 57 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **84** |

---

------

Capital Income Builder (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Consumer staples (continued)** |  |  |
| Philip Morris International, Inc. 5.625% 9/7/2033  | USD30 | $31 |
| Philip Morris International, Inc. 4.90% 11/1/2034  | 90 | 90 |
| Post Holdings, Inc. 6.375% 3/1/2033 <sup>(h)</sup>  | 330 | 334 |
|  |  | 2534 |
| **Information technology 0.13%** |  |  |
| Broadcom, Inc. 5.05% 7/12/2027  | 40 | 41 |
| Broadcom, Inc. 4.00% 4/15/2029 <sup>(h)</sup>  | 3 | 3 |
| Broadcom, Inc. 5.05% 7/12/2029  | 45 | 46 |
| Broadcom, Inc. 5.15% 11/15/2031  | 104 | 107 |
| Broadcom, Inc. 4.15% 4/15/2032 <sup>(h)</sup>  | 11 | 11 |
| Broadcom, Inc. 4.80% 10/15/2034  | 12 | 12 |
| Broadcom, Inc. 3.137% 11/15/2035 <sup>(h)</sup>  | 2 | 2 |
| Cisco Systems, Inc. 4.95% 2/26/2031  | 11 | 11 |
| Cisco Systems, Inc. 5.05% 2/26/2034  | 4 | 4 |
| Cisco Systems, Inc. 5.10% 2/24/2035  | 14 | 14 |
| Cisco Systems, Inc. 5.30% 2/26/2054  | 8 | 8 |
| Cisco Systems, Inc. 5.35% 2/26/2064  | 11 | 11 |
| Diebold Nixdorf, Inc. 7.75% 3/31/2030 <sup>(h)</sup>  | 250 | 266 |
| Fair Isaac Corp. 6.00% 5/15/2033 <sup>(h)</sup>  | 100 | 101 |
| Oracle Corp. 5.50% 8/3/2035  | 18 | 18 |
| ServiceNow, Inc. 1.40% 9/1/2030  | 54 | 47 |
| Synopsys, Inc. 4.65% 4/1/2028  | 40 | 40 |
| Synopsys, Inc. 4.85% 4/1/2030  | 40 | 41 |
| Synopsys, Inc. 5.00% 4/1/2032  | 40 | 40 |
| Synopsys, Inc. 5.15% 4/1/2035  | 780 | 786 |
| Synopsys, Inc. 5.70% 4/1/2055  | 380 | 378 |
|  |  | 1987 |
| **Materials 0.11%** |  |  |
| BHP Billiton Finance (USA), Ltd. 4.875% 2/27/2026  | 35 | 35 |
| BHP Billiton Finance (USA), Ltd. 4.75% 2/28/2028  | 35 | 36 |
| BHP Billiton Finance (USA), Ltd. 4.90% 2/28/2033  | 16 | 16 |
| BHP Billiton Finance (USA), Ltd. 5.25% 9/8/2033  | 7 | 7 |
| Celanese US Holdings, LLC 6.85% 11/15/2028  | 36 | 38 |
| Celanese US Holdings, LLC 7.05% 11/15/2030  | 27 | 28 |
| Celanese US Holdings, LLC 6.629% 7/15/2032  | 10 | 10 |
| Celanese US Holdings, LLC 7.20% 11/15/2033  | 23 | 24 |
| Chevron Phillips Chemical Co., LLC 4.75% 5/15/2030 <sup>(h)</sup>  | 20 | 20 |
| Cleveland-Cliffs, Inc. 7.50% 9/15/2031 <sup>(h)</sup>  | 125 | 121 |
| Consolidated Energy Finance SA 5.625% 10/15/2028 <sup>(h)</sup>  | 750 | 647 |
| Dow Chemical Co. (The) 5.15% 2/15/2034  | 19 | 19 |
| Dow Chemical Co. (The) 5.35% 3/15/2035  | 11 | 11 |
| Dow Chemical Co. (The) 5.55% 11/30/2048  | 15 | 14 |
| Dow Chemical Co. (The) 3.60% 11/15/2050  | 75 | 51 |
| Dow Chemical Co. (The) 6.90% 5/15/2053  | 6 | 6 |
| Dow Chemical Co. (The) 5.60% 2/15/2054  | 53 | 48 |
| First Quantum Minerals, Ltd. 6.875% 10/15/2027 <sup>(h)</sup>  | 249 | 250 |
| LYB International Finance III, LLC 3.625% 4/1/2051  | 102 | 68 |
| NOVA Chemicals Corp. 8.50% 11/15/2028 <sup>(h)</sup>  | 10 | 11 |
| NOVA Chemicals Corp. 4.25% 5/15/2029 <sup>(h)</sup>  | 325 | 313 |
|  |  | 1773 |
| **Total corporate bonds, notes & loans** |  | 38670 |
| **Asset-backed obligations 0.95%** | **Asset-backed obligations 0.95%** | **Asset-backed obligations 0.95%** |
| Affirm, Inc., Series 2024-A, Class A, 5.61% 2/15/2029 <sup>(e)(h)</sup>  | 215 | 216 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **85** | American Funds Insurance Series |

---

------

Capital Income Builder (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** |
| American Homes 4 Rent, Series 2015-SFR2, Class A, 3.732% 10/17/2052 <sup>(e)(h)</sup>  | USD82 | $82 |
| American Homes 4 Rent, Series 2015-SFR2, Class B, 4.295% 10/17/2052 <sup>(e)(h)</sup>  | 100 | 100 |
| Auxilior Term Funding, LLC, Series 24-1, Class A2, 5.84% 3/15/2027 <sup>(e)(h)</sup>  | 277 | 278 |
| Avant Credit Card Master Trust, Series 2024-2A, Class A, 5.38% 5/15/2029 <sup>(e)(h)</sup>  | 400 | 399 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2020-2, Class A, 2.02% 2/20/2027 <sup>(e)(h)</sup>  | 197 | 195 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2020-2A, Class B, 2.96% 2/20/2027 <sup>(e)(h)</sup>  | 100 | 99 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-6, Class A, 5.81% 12/20/2029 <sup>(e)(h)</sup>  | 339 | 353 |
| AXIS Equipment Finance Receivables, LLC, Series 2024-2, Class A2, 5.19% 7/21/2031 <sup>(e)(h)</sup>  | 344 | 347 |
| Blue Owl Asset Leasing Trust, Series 2024-1A, Class A2, 5.05% 3/15/2029 <sup>(e)(h)</sup>  | 78 | 78 |
| Capteris Equipment Finance, Series 2024-1, Class A2, 5.58% 7/20/2032 <sup>(e)(h)</sup>  | 662 | 672 |
| CF Hippolyta, LLC, Series 2020-1, Class A1, 1.69% 7/15/2060 <sup>(e)(h)</sup>  | 351 | 347 |
| CF Hippolyta, LLC, Series 2020-1, Class A2, 1.99% 7/15/2060 <sup>(e)(h)</sup>  | 87 | 80 |
| CF Hippolyta, LLC, Series 2020-1, Class B1, 2.28% 7/15/2060 <sup>(e)(h)</sup>  | 90 | 89 |
| CF Hippolyta, LLC, Series 2020-1, Class B2, 2.60% 7/15/2060 <sup>(e)(h)</sup>  | 90 | 81 |
| CF Hippolyta, LLC, Series 2021-1, Class A1, 1.53% 3/15/2061 <sup>(e)(h)</sup>  | 316 | 304 |
| CF Hippolyta, LLC, Series 2022-1A, Class A1, 5.97% 8/15/2062 <sup>(e)(h)</sup>  | 489 | 490 |
| Clarus Capital Funding, LLC, Series 2024-1A, Class A2, 4.71% 8/20/2032 <sup>(e)(h)</sup>  | 301 | 301 |
| CPS Auto Receivables Trust, Series 2024-C, Class B, 5.68% 12/15/2028 <sup>(e)(h)</sup>  | 497 | 501 |
| Drive Auto Receivables Trust, Series 2024-2, Class A2, 4.94% 12/15/2027 <sup>(e)</sup>  | 139 | 140 |
| Enterprise Fleet Financing, LLC, Series 2024-3, Class A2, 5.31% 4/20/2027 <sup>(e)(h)</sup>  | 323 | 324 |
| Enterprise Fleet Financing, LLC, Series 2024-4, Class A2, 4.69% 7/20/2027 <sup>(e)(h)</sup>  | 206 | 206 |
| Enterprise Fleet Financing, LLC, Series 2024-1, Class A2, 5.23% 3/20/2030 <sup>(e)(h)</sup>  | 394 | 397 |
| EquipmentShare, Series 2024-2M, Class B, 6.43% 12/20/2032 <sup>(e)(h)</sup>  | 149 | 151 |
| Ford Credit Auto Owner Trust, Series 2023-1, Class A, 4.85% 8/15/2035 <sup>(e)(h)</sup>  | 176 | 179 |
| Ford Credit Auto Owner Trust, Series 2023-2, Class A, 5.28% 2/15/2036 <sup>(e)(h)</sup>  | 181 | 187 |
| Ford Credit Floorplan Master Owner Trust, Series 2023-1, Class A1, 4.92% 5/15/2028 <sup>(e)(h)</sup>  | 188 | 189 |
| GCI Funding I, LLC, Series 2020-1, Class A, 2.82% 10/18/2045 <sup>(e)(h)</sup>  | 345 | 326 |
| GCI Funding I, LLC, Series 2021-1, Class A, 2.38% 6/18/2046 <sup>(e)(h)</sup>  | 64 | 59 |
| Global SC Finance V SRL, Series 2019-1A, Class B, 4.81% 9/17/2039 <sup>(e)(h)</sup>  | 83 | 81 |
| Global SC Finance V SRL, Series 2020-1A, Class A, 2.17% 10/17/2040 <sup>(e)(h)</sup>  | 314 | 300 |
| GLS Auto Receivables Trust, Series 2024-3A, Class A2, 5.35% 8/16/2027 <sup>(e)(h)</sup>  | 59 | 59 |
| GLS Auto Select Receivables Trust, Series 2024-4A, Class A2, 4.43% 12/17/2029 <sup>(e)(h)</sup>  | 88 | 88 |
| GM Financial Revolving Receivables Trust, Series 2023-1, Class A, 5.12% 4/11/2035 <sup>(e)(h)</sup>  | 285 | 292 |
| GM Financial Revolving Receivables Trust, Series 2022-1, Class A, 5.91% 10/11/2035 <sup>(e)(h)</sup>  | 184 | 191 |
| GM Financial Securitized Term Auto Receivables Trust, Series 2023-2, Class A3, 4.47% 2/16/2028 <sup>(e)</sup>  | 18 | 18 |
| GM Financial Securitized Term Auto Receivables Trust, Series 2023-2, Class A4, 4.43% 10/16/2028 <sup>(e)</sup>  | 48 | 48 |
| Hertz Vehicle Financing, LLC, Series 2021-2A, Class A, 1.68% 12/27/2027 <sup>(e)(h)</sup>  | 268 | 258 |
| Hertz Vehicle Financing, LLC, Series 2021-2A, Class B, 2.12% 12/27/2027 <sup>(e)(h)</sup>  | 100 | 96 |
| Hertz Vehicle Financing, LLC, Series 2021-2A, Class C, 2.52% 12/27/2027 <sup>(e)(h)</sup>  | 100 | 96 |
| Hertz Vehicle Financing, LLC, Series 2024-1A, Class A, 5.44% 1/25/2029 <sup>(e)(h)</sup>  | 187 | 190 |
| Horizon Aircraft Finance, Series 2024-1, Class A, 5.375% 9/15/2049 <sup>(e)(h)</sup>  | 364 | 365 |
| Hyundai Auto Receivables Trust, Series 2023-A, Class A3, 4.58% 4/15/2027 <sup>(e)</sup>  | 15 | 14 |
| Hyundai Auto Receivables Trust, Series 2023-A, Class A4, 4.48% 7/17/2028 <sup>(e)</sup>  | 28 | 28 |
| Merchants Fleet Funding, LLC, Series 2024-1, Class A, 5.82% 4/20/2037 <sup>(e)(h)</sup>  | 172 | 173 |
| Mission Lane Credit Card Master Trust, Series 2025-B, Class A, 5.40% 9/15/2031 <sup>(e)(h)</sup>  | 246 | 246 |
| Navient Student Loan Trust, Series 2021-A, Class A, 0.84% 5/15/2069 <sup>(e)(h)</sup>  | 26 | 24 |
| Navient Student Loan Trust, Series 2021-CA, Class A, 1.06% 10/15/2069 <sup>(e)(h)</sup>  | 47 | 43 |
| Nelnet Student Loan Trust, Series 2021-A, Class APT1, 1.36% 4/20/2062 <sup>(e)(h)</sup>  | 111 | 104 |
| Nelnet Student Loan Trust, Series 2021-B, Class AFX, 1.42% 4/20/2062 <sup>(e)(h)</sup>  | 220 | 206 |
| Nelnet Student Loan Trust, Series 2021-CA, Class AFL, (1-month USD CME Term SOFR + 0.854%) 5.172% <br>4/20/2062 <sup>(e)(f)(h)</sup>  | 114 | 114 |
| New Economy Assets Phase 1 Issuer, LLC, Series 2021-1, Class A1, 1.91% 10/20/2061 <sup>(e)(h)</sup>  | 935 | 881 |
| NMEF Funding, LLC, Series 2024-A, Class A2, 5.15% 12/15/2031 <sup>(e)(h)</sup>  | 445 | 447 |
| OnDeck Asset Securitization Trust, LLC, Series 2024-1, Class A, 6.27% 6/17/2031 <sup>(e)(h)</sup>  | 100 | 101 |
| OnDeck Asset Securitization Trust, LLC, Series 2024-2A, Class A, 4.98% 10/17/2031 <sup>(e)(h)</sup>  | 127 | 126 |
| Oportun Funding, LLC, Series 2021-B, Class A, 1.47% 5/8/2031 <sup>(e)(h)</sup>  | 36 | 35 |
| PEAC Solutions Receivables, LLC, Series 2024-2A, Class A2, 4.74% 4/20/2027 <sup>(e)(h)</sup>  | 153 | 153 |
| PEAC Solutions Receivables, LLC, Series 2024-1A, Class A2, 5.79% 6/21/2027 <sup>(e)(h)</sup>  | 214 | 216 |
| PFS Financing Corp., Series 2022-D, Class A, 4.27% 8/16/2027 <sup>(e)(h)</sup>  | 100 | 100 |
| PFS Financing Corp., Series 2023-B, Class A, 5.27% 5/15/2028 <sup>(e)(h)</sup>  | 175 | 176 |
| PK ALIFT Loan Funding 4, LP, Series 2024-2, Class A, 5.052% 10/15/2039 <sup>(e)(h)</sup>  | 198 | 197 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **86** |

---

------

Capital Income Builder (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** |
| Post Road Equipment Finance, Series 2024-1, Class A2, 5.59% 11/15/2029 <sup>(e)(h)</sup>  | USD102 | $103 |
| Reach Financial, LLC, Series 2024-2, Class A, 5.88% 7/15/2031 <sup>(e)(h)</sup>  | 195 | 195 |
| Santander Drive Auto Receivables Trust, Series 2024-4, Class A2, 5.41% 7/15/2027 <sup>(e)</sup>  | 94 | 94 |
| SCF Equipment Leasing, LLC, Series 2024-1A, Class A2, 5.88% 11/20/2029 <sup>(e)(h)</sup>  | 72 | 72 |
| SMB Private Education Loan Trust, Series 2021-A, Class APT2, 1.07% 1/15/2053 <sup>(e)(h)</sup>  | 43 | 38 |
| Stonepeak Infrastructure Partners, Series 2021-1A, Class AA, 2.301% 2/28/2033 <sup>(e)(h)</sup>  | 78 | 75 |
| Toyota Auto Loan Extended Note Trust, Series 2021-1, Class A, 1.07% 2/27/2034 <sup>(e)(f)(h)</sup>  | 335 | 328 |
| U.S. Bank National Association, Series 2025-SUP1, Class B, 5.582% 2/25/2032 <sup>(e)(h)</sup>  | 257 | 257 |
| Verdant Receivables, LLC, Series 2024-1, Class A2, 5.68% 12/12/2031 <sup>(e)(h)</sup>  | 84 | 86 |
| Wheels Fleet Lease Funding, LLC, Series 24-2A, Class A1, 4.87% 6/21/2039 <sup>(e)(h)</sup>  | 799 | 804 |
| Wheels Fleet Lease Funding, LLC, Series 2024-3A, Class A1, 4.80% 9/19/2039 <sup>(e)(h)</sup>  | 215 | 216 |
|  |  | 14904 |
| **Bonds & notes of governments & government agencies outside the U.S. 0.05%** | **Bonds & notes of governments & government agencies outside the U.S. 0.05%** | **Bonds & notes of governments & government agencies outside the U.S. 0.05%** |
| Peru (Republic of) 2.783% 1/23/2031  | 190 | 171 |
| Saudi Arabia (Kingdom of) 3.625% 3/4/2028  | 200 | 197 |
| United Mexican States 3.25% 4/16/2030  | 200 | 184 |
| United Mexican States 7.375% 5/13/2055  | 245 | 253 |
|  |  | 805 |
| **Municipals 0.02%** | **Municipals 0.02%** | **Municipals 0.02%** |
| **Illinois 0.01%** |  |  |
| GO Bonds, Pension Funding, Series 2003, 5.10% 6/1/2033  | 196 | 197 |
| **Massachusetts 0.01%** |  |  |
| Educational Fncg. Auth., Education Loan Rev. Bonds, Series 2024-A, 6.352% 7/1/2049  | 135 | 139 |
| **Total municipals** |  | 336 |
| **Total bonds, notes & other debt instruments** (cost: $220,241,000) |  | 219044 |
| Investment funds 2.06% | Shares |  |
| Capital Group Central Corporate Bond Fund <sup>(l)</sup>  | 3819323 | 32235 |
| **Total Investment funds** (cost: $35,212,000) |  | 32235 |
| Short-term securities 8.35% |  |  |
| **Money market investments 7.34%** | **Money market investments 7.34%** | **Money market investments 7.34%** |
| Capital Group Central Cash Fund 4.35% <sup>(l)(m)</sup>  | 1150689 | 115069 |
| **Money market investments purchased with collateral from securities on loan 1.01%** | **Money market investments purchased with collateral from securities on loan 1.01%** | **Money market investments purchased with collateral from securities on loan 1.01%** |
| Invesco Short-Term Investments Trust – Government & Agency Portfolio, Institutional Class 4.26% <sup>(m)(n)</sup>  | 15786027 | 15786 |
| **Total short-term securities** (cost: $130,837,000) |  | 130855 |
| **Total investment securities 99.80%** (cost: $1,202,937,000) |  | 1563195 |
| Other assets less liabilities 0.20% |  | 3128 |
| **Net assets 100.00%** |  | $1566323 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **87** | American Funds Insurance Series |

---

------

Capital Income Builder (continued)

**Futures contracts**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Contracts | Type | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value and <br>unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| 3 Month SOFR Futures | Long | 269 | 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD64,335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $44 |
| 2 Year U.S. Treasury Note Futures | Long | 217 | 10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 178 |
| 5 Year U.S. Treasury Note Futures | Long | 375 | 10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 429 |
| 10 Year U.S. Treasury Note Futures | Long | 147 | 9/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 313 |
| 10 Year Ultra U.S. Treasury Note Futures | Short | 25 | 9/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2857)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (72)<br>|
| 20 Year U.S. Treasury Bond Futures | Long | 44 | 9/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 185 |
| 30 Year Ultra U.S. Treasury Bond Futures | Long | 72 | 9/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8577 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 332 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1409 |

---

**Swap contracts**

------

**Interest rate swaps**

**Centrally cleared interest rate swaps** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | Receive | Pay | Pay | &nbsp;&nbsp;&nbsp; Expiration <br>date | &nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Value at <br>6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Upfront <br>premium <br>paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(received) <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| Rate | &nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| Rate | &nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| &nbsp;&nbsp;&nbsp; Expiration <br>date | &nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Value at <br>6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Upfront <br>premium <br>paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(received) <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| 3.16% | At maturity | U.S. Urban CPI | At maturity | &nbsp;&nbsp;&nbsp; 6/23/2026 | &nbsp;&nbsp;&nbsp; USD350 | &nbsp;&nbsp;&nbsp; $— <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— <br><sup>(c)</sup><br>|
| U.S. Urban CPI | At maturity | 3.17% | At maturity | &nbsp;&nbsp;&nbsp; 6/23/2026 | &nbsp;&nbsp;&nbsp; USD690 | &nbsp;&nbsp;&nbsp; — <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — <br><sup>(c)</sup><br>|
| SOFR | Annual | 3.055% | Annual | &nbsp;&nbsp;&nbsp; 4/6/2031 | &nbsp;&nbsp;&nbsp; USD6,700 | &nbsp;&nbsp;&nbsp; 144 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 144 |
| SOFR | Annual | 2.91% | Annual | &nbsp;&nbsp;&nbsp; 9/18/2050 | &nbsp;&nbsp;&nbsp; USD592 | &nbsp;&nbsp;&nbsp; 99 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 99 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp; $243 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $243 |

---

**Credit default swaps** 

**Centrally cleared credit default swaps on credit indices — sell protection** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Reference <br>index<br>| &nbsp;&nbsp;&nbsp;&nbsp; Financing <br>rate received<br>| &nbsp;&nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| &nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <sup>(o)</sup> <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Value at <br>6/30/2025 <sup>(p)</sup> <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Upfront <br>premium <br>paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(received) <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| CDX.NA.IG.44 | 1.00% | Quarterly | &nbsp;&nbsp;&nbsp;&nbsp; 6/20/2030 | &nbsp;&nbsp;&nbsp;&nbsp; USD5,015 | &nbsp;&nbsp;&nbsp;&nbsp; $111 | &nbsp;&nbsp;&nbsp;&nbsp; $99 | &nbsp;&nbsp;&nbsp;&nbsp; $12 |

---

**Investments in affiliates** <sup>(l)</sup>

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>1/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>6/30/2025 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Investment funds 2.06%** |  |  |  |  |  |  |  |
| Capital Group Central Corporate Bond Fund  | $30920 | &nbsp;&nbsp; $750 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $565 | &nbsp;&nbsp; $32235 | &nbsp;&nbsp; $750 |
| **Short-term securities 7.34%** |  |  |  |  |  |  |  |
| **Money market investments 7.34%** |  |  |  |  |  |  |  |
| Capital Group Central Cash Fund 4.35% <sup>(m)</sup>  | 60575 | &nbsp;&nbsp; 199935 | &nbsp;&nbsp; 145437 | &nbsp;&nbsp; — <br><sup>(c)</sup><br>| &nbsp;&nbsp; (4)<br>| &nbsp;&nbsp; 115069 | &nbsp;&nbsp; 1854 |
| **Total 9.40%** |  |  |  | &nbsp;&nbsp; $— <br><sup>(c)</sup><br>| &nbsp;&nbsp; $561 | &nbsp;&nbsp; $147304 | &nbsp;&nbsp; $2604 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **88** |

---

------

Capital Income Builder (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> All or a portion of this security was on loan. The total value of all such securities was $16,714,000, which represented 1.07% of the net assets of the fund. Refer to Note 5 for more information on securities lending. 

<sup>(b)</sup> Value determined using significant unobservable inputs.

<sup>(c)</sup> Amount less than one thousand.

<sup>(d)</sup> Security did not produce income during the last 12 months.

<sup>(e)</sup> Principal payments may be made periodically. Therefore, the effective maturity date may be earlier than the stated maturity date.

<sup>(f)</sup> Coupon rate may change periodically. Reference rate and spread are as of the most recent information available. Some coupon rates are determined by the issuer or agent based on current market conditions; therefore, the reference rate and spread are not available. 

<sup>(g)</sup> Represents securities transacted on a TBA basis.

<sup>(h)</sup> Acquired in a transaction exempt from registration under Rule 144A or, for commercial paper, Section 4(a)(2) of the Securities Act of 1933. May be resold in the U.S. in transactions exempt from registration, normally to qualified institutional buyers. The total value of all such securities was $40,844,000, which represented 2.61% of the net assets of the fund. 

<sup>(i)</sup> Step bond; coupon rate may change at a later date.

<sup>(j)</sup> All or a portion of this security was pledged as collateral. The total value of pledged collateral was $2,008,000, which represented 0.13% of the net assets of the fund. 

<sup>(k)</sup> Loan participations and assignments; may be subject to legal or contractual restrictions on resale. The total value of all such loans was $262,000, which represented 0.02% of the net assets of the fund. 

<sup>(l)</sup> Part of the same "group of investment companies" as the fund as defined under the Investment Company Act of 1940, as amended.

<sup>(m)</sup> Rate represents the seven-day yield at 6/30/2025.

<sup>(n)</sup> Security purchased with cash collateral from securities on loan. Refer to Note 5 for more information on securities lending.

<sup>(o)</sup> The maximum potential amount the fund may pay as a protection seller should a credit event occur.

<sup>(p)</sup> The prices and resulting values for credit default swap indices serve as an indicator of the current status of the payment/performance risk. As the value of a sell protection credit default swap increases or decreases, when compared to the notional amount of the swap, the payment/performance risk may decrease or increase, respectively. 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **Key to abbreviation(s)** |
| ADR = American Depositary Receipts |
| Assn. = Association |
| Auth. = Authority |
| CAD = Canadian dollars |
| CDI = CREST Depository Interest  |
| CME = CME Group |
| CPI = Consumer Price Index |
| DAC = Designated Activity Company |
| Fncg. = Financing |
| GBP = British pounds |

---

---

| |
|:---|
| GO = General Obligation |
| ICE = Intercontinental Exchange, Inc. |
| MXN = Mexican pesos |
| REIT = Real Estate Investment Trust |
| Rev. = Revenue |
| SOFR = Secured Overnight Financing Rate |
| TBA = To be announced |
| USD = U.S. dollars |
| UST = U.S. Treasury |

---

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **89** | American Funds Insurance Series |

---

------

Asset Allocation Fund

**Investment portfolio** June 30, 2025unaudited

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Common stocks 67.14% | Shares | Value<br> (000)<br>|
| **Information technology 16.85%** |  |  |
| Broadcom, Inc.  | 5212782 | $1436903 |
| Microsoft Corp.  | 2083449 | 1036328 |
| Taiwan Semiconductor Manufacturing Co., Ltd. (ADR)  | 2973803 | 673537 |
| Taiwan Semiconductor Manufacturing Co., Ltd.  | 773000 | 28049 |
| NVIDIA Corp.  | 2594429 | 409894 |
| Apple, Inc.  | 1032637 | 211866 |
| Intel Corp.  | 6095959 | 136550 |
| ASML Holding NV (ADR)  | 145009 | 116209 |
| MicroStrategy, Inc., Class A <sup>(a)</sup>  | 246870 | 99792 |
| Micron Technology, Inc.  | 726977 | 89600 |
| KLA Corp.  | 94152 | 84336 |
| International Business Machines Corp.  | 275000 | 81065 |
| Adobe, Inc. <sup>(a)</sup>  | 202715 | 78426 |
| Synopsys, Inc. <sup>(a)</sup>  | 90490 | 46392 |
| Oracle Corp.  | 185267 | 40505 |
| Diebold Nixdorf, Inc. <sup>(a)</sup>  | 532940 | 29525 |
| Salesforce, Inc.  | 102608 | 27980 |
| Applied Materials, Inc.  | 113846 | 20842 |
| Motorola Solutions, Inc.  | 35587 | 14963 |
|  |  | 4662762 |
| **Financials 12.18%** |  |  |
| Apollo Asset Management, Inc.  | 2534818 | 359615 |
| Arthur J. Gallagher & Co.  | 1010070 | 323344 |
| Aon PLC, Class A  | 752130 | 268330 |
| Mastercard, Inc., Class A  | 360948 | 202831 |
| Synchrony Financial  | 3000000 | 200220 |
| Capital One Financial Corp.  | 889662 | 189284 |
| Visa, Inc., Class A  | 525963 | 186743 |
| Ares Management Corp., Class A  | 1004749 | 174022 |
| Blue Owl Capital, Inc., Class A  | 9047540 | 173803 |
| Bank of America Corp.  | 2784601 | 131767 |
| Blackstone, Inc.  | 837355 | 125252 |
| Wells Fargo & Co.  | 1413342 | 113237 |
| American Express Co.  | 337999 | 107815 |
| Brown & Brown, Inc.  | 964468 | 106931 |
| Fiserv, Inc. <sup>(a)</sup>  | 584262 | 100733 |
| BlackRock, Inc.  | 88049 | 92385 |
| JPMorgan Chase & Co.  | 318591 | 92363 |
| Chubb, Ltd.  | 273887 | 79351 |
| Progressive Corp.  | 280641 | 74892 |
| Citigroup, Inc.  | 875000 | 74480 |
| AXA SA  | 1445264 | 70941 |
| KKR & Co., Inc.  | 273886 | 36435 |
| Brookfield Corp., Class A  | 486973 | 30119 |
| Goldman Sachs Group, Inc.  | 30100 | 21303 |
| Intercontinental Exchange, Inc.  | 110132 | 20206 |
| UniCredit SpA  | 214008 | 14346 |
| Sberbank of Russia PJSC <sup>(b)</sup>  | 8880000 | — <br><sup>(c)</sup><br>|
|  |  | 3370748 |
| **Industrials 9.09%** |  |  |
| ATI, Inc. <sup>(a)</sup>  | 3762816 | 324882 |
| Boeing Co. (The) <sup>(a)</sup>  | 1355000 | 283913 |
| TransDigm Group, Inc.  | 160869 | 244624 |
| L3Harris Technologies, Inc.  | 870418 | 218336 |
| General Electric Co.  | 722399 | 185938 |
| Honeywell International, Inc.  | 641747 | 149450 |
| Deere & Co.  | 270815 | 137707 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **90** |

---

------

Asset Allocation Fund (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Industrials (continued)** |  |  |
| Parker-Hannifin Corp.  | 183050 | $127855 |
| Caterpillar, Inc.  | 290000 | 112581 |
| Ingersoll-Rand, Inc.  | 1251137 | 104070 |
| Safran SA  | 312100 | 101431 |
| United Rentals, Inc.  | 129402 | 97491 |
| Northrop Grumman Corp.  | 126468 | 63232 |
| Trane Technologies PLC  | 137366 | 60085 |
| Quanta Services, Inc.  | 152260 | 57566 |
| Copart, Inc. <sup>(a)</sup>  | 835833 | 41014 |
| Republic Services, Inc.  | 158509 | 39090 |
| RTX Corp.  | 260623 | 38056 |
| Union Pacific Corp.  | 158202 | 36399 |
| Carrier Global Corp.  | 382605 | 28003 |
| GE Vernova, Inc.  | 44366 | 23476 |
| FTAI Aviation, Ltd.  | 181908 | 20927 |
| Airbus SE, non-registered shares  | 94296 | 19689 |
|  |  | 2515815 |
| **Consumer discretionary 7.00%** |  |  |
| Booking Holdings, Inc.  | 68188 | 394757 |
| Amazon.com, Inc. <sup>(a)</sup>  | 1331622 | 292145 |
| Royal Caribbean Cruises, Ltd.  | 808815 | 253272 |
| Starbucks Corp.  | 1827909 | 167491 |
| Home Depot, Inc.  | 367100 | 134594 |
| NIKE, Inc., Class B  | 1485288 | 105515 |
| Darden Restaurants, Inc.  | 448084 | 97669 |
| D.R. Horton, Inc.  | 650250 | 83830 |
| Carnival Corp. <sup>(a)</sup>  | 2758206 | 77561 |
| Compagnie Financiere Richemont SA, Class A  | 381887 | 71930 |
| Moncler SpA  | 1254665 | 71517 |
| Texas Roadhouse, Inc.  | 325829 | 61064 |
| Hilton Worldwide Holdings, Inc.  | 139547 | 37167 |
| Restaurant Brands International, Inc.  | 498700 | 33059 |
| Tesla, Inc. <sup>(a)</sup>  | 79806 | 25351 |
| YUM! Brands, Inc.  | 91381 | 13541 |
| lululemon athletica, Inc. <sup>(a)</sup>  | 44474 | 10566 |
| AutoZone, Inc. <sup>(a)</sup>  | 1687 | 6262 |
| Aimbridge Topco, LLC <sup>(a)(b)</sup>  | 10722 | 807 |
| Party City Holdco, Inc. <sup>(a)(b)</sup>  | 68158 | — <br><sup>(c)</sup><br>|
| Party City Holdco, Inc. <sup>(a)(b)(d)</sup>  | 681 | — <br><sup>(c)</sup><br>|
|  |  | 1938098 |
| **Health care 6.79%** |  |  |
| Vertex Pharmaceuticals, Inc. <sup>(a)</sup>  | 992755 | 441974 |
| Gilead Sciences, Inc.  | 2987938 | 331273 |
| Eli Lilly and Co.  | 314292 | 245000 |
| UnitedHealth Group, Inc.  | 480370 | 149861 |
| Amgen, Inc.  | 473094 | 132093 |
| CVS Health Corp.  | 1451353 | 100114 |
| Thermo Fisher Scientific, Inc.  | 179059 | 72601 |
| Alnylam Pharmaceuticals, Inc. <sup>(a)</sup>  | 205917 | 67147 |
| Abbott Laboratories  | 487227 | 66268 |
| Illumina, Inc. <sup>(a)</sup>  | 599260 | 57175 |
| Cooper Cos., Inc. <sup>(a)</sup>  | 731383 | 52045 |
| Centene Corp. <sup>(a)</sup>  | 675000 | 36639 |
| AbbVie, Inc.  | 176323 | 32729 |
| Boston Scientific Corp. <sup>(a)</sup>  | 198062 | 21274 |
| Exact Sciences Corp. <sup>(a)</sup>  | 388980 | 20670 |
| Danaher Corp.  | 95660 | 18897 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **91** | American Funds Insurance Series |

---

------

Asset Allocation Fund (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Health care (continued)** |  |  |
| Rotech Healthcare, Inc. <sup>(a)(b)(e)</sup>  | 184138 | $13864 |
| Molina Healthcare, Inc. <sup>(a)</sup>  | 36950 | 11007 |
| Novo Nordisk AS, Class B  | 70320 | 4881 |
| Endo, Inc. <sup>(a)</sup>  | 140115 | 2941 |
| Endo, Inc., 1L 7.50% Escrow <sup>(a)(b)</sup>  | 9648000 | — <br><sup>(c)</sup><br>|
| Carbon Health Technologies, Inc., Class A <sup>(a)(b)</sup>  | 4955500 | 50 |
|  |  | 1878503 |
| **Materials 4.82%** |  |  |
| Franco-Nevada Corp. (CAD denominated)  | 1925000 | 316044 |
| Wheaton Precious Metals Corp.  | 3349100 | 300749 |
| Royal Gold, Inc.  | 1405000 | 249865 |
| Lundin Mining Corp.  | 16017925 | 168443 |
| First Quantum Minerals, Ltd. <sup>(a)</sup>  | 5805000 | 103119 |
| Linde PLC  | 145263 | 68154 |
| Freeport-McMoRan, Inc.  | 1400000 | 60690 |
| Corteva, Inc.  | 571302 | 42579 |
| Air Products and Chemicals, Inc.  | 45664 | 12880 |
| Avery Dennison Corp.  | 65336 | 11465 |
| Venator Materials PLC <sup>(a)(b)</sup>  | 4096 | — <br><sup>(c)</sup><br>|
|  |  | 1333988 |
| **Consumer staples 4.33%** |  |  |
| Philip Morris International, Inc.  | 4082884 | 743615 |
| Keurig Dr Pepper, Inc.  | 3252056 | 107513 |
| Constellation Brands, Inc., Class A  | 499955 | 81333 |
| Costco Wholesale Corp.  | 69889 | 69186 |
| Nestle SA  | 617055 | 61305 |
| US Foods Holding Corp. <sup>(a)</sup>  | 514932 | 39655 |
| Estee Lauder Cos., Inc. (The), Class A  | 440395 | 35584 |
| Altria Group, Inc.  | 527643 | 30936 |
| Bunge Global SA  | 197085 | 15822 |
| Procter & Gamble Co.  | 75358 | 12006 |
|  |  | 1196955 |
| **Communication services 3.78%** |  |  |
| Meta Platforms, Inc., Class A  | 581159 | 428948 |
| Alphabet, Inc., Class C  | 1206415 | 214006 |
| Alphabet, Inc., Class A  | 344016 | 60626 |
| Comcast Corp., Class A  | 6366969 | 227237 |
| Charter Communications, Inc., Class A <sup>(a)</sup>  | 179040 | 73193 |
| Nintendo Co., Ltd.  | 265200 | 25561 |
| Take-Two Interactive Software, Inc. <sup>(a)</sup>  | 67585 | 16413 |
|  |  | 1045984 |
| **Energy 1.29%** |  |  |
| Canadian Natural Resources, Ltd. (CAD denominated)  | 4009172 | 126009 |
| ConocoPhillips  | 824000 | 73946 |
| Shell PLC (GBP denominated)  | 1914457 | 67103 |
| EOG Resources, Inc.  | 254319 | 30419 |
| Noble Corp. PLC, Class A  | 771174 | 20474 |
| Halliburton Co.  | 960000 | 19565 |
| Schlumberger NV  | 286500 | 9684 |
| Exxon Mobil Corp.  | 66470 | 7165 |
| Constellation Oil Services Holding SA (NDR) <sup>(a)</sup>  | 1564956 | 699 |
| New Fortress Energy, Inc., Class A <sup>(a)</sup>  | 150315 | 499 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **92** |

---

------

Asset Allocation Fund (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Energy (continued)** |  |  |
| Altera Infrastructure, LP <sup>(b)</sup>  | 16129 | $498 |
| Expand Energy Corp.  | 277 | 32 |
| Bighorn Permian Resources, LLC <sup>(b)</sup>  | 4392 | — <br><sup>(c)</sup><br>|
|  |  | 356093 |
| **Real estate 0.53%** |  |  |
| VICI Properties, Inc. REIT  | 2308795 | 75267 |
| American Tower Corp. REIT  | 136942 | 30267 |
| Simon Property Group, Inc. REIT  | 119922 | 19279 |
| Crown Castle, Inc. REIT  | 134329 | 13799 |
| Alexandria Real Estate Equities, Inc. REIT  | 121544 | 8828 |
|  |  | 147440 |
| **Utilities 0.48%** |  |  |
| DTE Energy Co.  | 848144 | 112345 |
| FirstEnergy Corp.  | 323684 | 13032 |
| Southern Co. (The)  | 83100 | 7631 |
|  |  | 133008 |
| **Total common stocks** (cost: $10,832,516,000) |  | 18579394 |
| Preferred securities 0.00% |  |  |
| **Industrials 0.00%** |  |  |
| ACR III LSC Holdings, LLC, Series B, preferred shares <sup>(a)(b)(d)</sup>  | 450 | 647 |
| **Total preferred securities** (cost: $466,000) |  | 647 |
| Rights & warrants 0.00% |  |  |
| **Energy 0.00%** |  |  |
| Expand Energy Corporation, Class C, warrants, expire 2/9/2026 <sup>(a)</sup>  | 524 | 54 |
| Constellation Oil Services Holding SA, Class D, warrants, expire 6/10/2071 <sup>(a)(b)</sup>  | 4 | — <br><sup>(c)</sup><br>|
| **Total rights & warrants** (cost: $313,000) |  | 54 |
| Convertible stocks 0.14% |  |  |
| **Information technology 0.07%** |  |  |
| MicroStrategy, Inc., 8.00% perpetual convertible preferred shares <sup>(f)</sup>  | 168200 | 20354 |
| **Industrials 0.07%** |  |  |
| Boeing Co., Series A, convertible preferred depositary shares, 6.00% 10/15/2027  | 262145 | 17826 |
| **Total convertible stocks** (cost: $29,379,000) |  | 38180 |
| Bonds, notes & other debt instruments 26.96% | Principal amount<br> (000)<br>|  |
| **Mortgage-backed obligations 10.51%** | **Mortgage-backed obligations 10.51%** | **Mortgage-backed obligations 10.51%** |
| **Federal agency mortgage-backed obligations 9.44%** |  |  |
| Fannie Mae Pool #AE3069 4.00% 9/1/2025 <sup>(g)</sup>  | USD— <br><sup>(c)</sup><br>| — <br><sup>(c)</sup><br>|
| Fannie Mae Pool #AH0829 4.00% 1/1/2026 <sup>(g)</sup>  | — <br><sup>(c)</sup><br>| — <br><sup>(c)</sup><br>|
| Fannie Mae Pool #AH6431 4.00% 2/1/2026 <sup>(g)</sup>  | 24 | 24 |
| Fannie Mae Pool #AH5618 4.00% 2/1/2026 <sup>(g)</sup>  | — <br><sup>(c)</sup><br>| — <br><sup>(c)</sup><br>|
| Fannie Mae Pool #890329 4.00% 4/1/2026 <sup>(g)</sup>  | 2 | 2 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **93** | American Funds Insurance Series |

---

------

Asset Allocation Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** |  |  |
| Fannie Mae Pool #MA1109 4.00% 5/1/2027 <sup>(g)</sup>  | USD— <br><sup>(c)</sup><br>| $— <br><sup>(c)</sup><br>|
| Fannie Mae Pool #MA3653 3.00% 3/1/2029 <sup>(g)</sup>  | 6 | 6 |
| Fannie Mae Pool #AL8347 4.00% 3/1/2029 <sup>(g)</sup>  | 7 | 7 |
| Fannie Mae Pool #254767 5.50% 6/1/2033 <sup>(g)</sup>  | 133 | 136 |
| Fannie Mae Pool #555956 5.50% 12/1/2033 <sup>(g)</sup>  | 85 | 87 |
| Fannie Mae Pool #BN1085 4.00% 1/1/2034 <sup>(g)</sup>  | 238 | 238 |
| Fannie Mae Pool #FM2499 2.50% 2/1/2035 <sup>(g)</sup>  | 243 | 229 |
| Fannie Mae Pool #929185 5.50% 1/1/2036 <sup>(g)</sup>  | 254 | 262 |
| Fannie Mae Pool #893641 6.00% 9/1/2036 <sup>(g)</sup>  | 496 | 520 |
| Fannie Mae Pool #893688 6.00% 10/1/2036 <sup>(g)</sup>  | 125 | 131 |
| Fannie Mae Pool #AS8554 3.00% 12/1/2036 <sup>(g)</sup>  | 4020 | 3808 |
| Fannie Mae Pool #907239 6.00% 12/1/2036 <sup>(g)</sup>  | 11 | 11 |
| Fannie Mae Pool #928031 6.00% 1/1/2037 <sup>(g)</sup>  | 41 | 43 |
| Fannie Mae Pool #888292 6.00% 3/1/2037 <sup>(g)</sup>  | 369 | 387 |
| Fannie Mae Pool #AD0249 5.50% 4/1/2037 <sup>(g)</sup>  | 69 | 71 |
| Fannie Mae Pool #CB3701 2.50% 5/1/2037 <sup>(g)</sup>  | 124 | 116 |
| Fannie Mae Pool #190379 5.50% 5/1/2037 <sup>(g)</sup>  | 39 | 40 |
| Fannie Mae Pool #924952 6.00% 8/1/2037 <sup>(g)</sup>  | 586 | 614 |
| Fannie Mae Pool #888637 6.00% 9/1/2037 <sup>(g)</sup>  | 7 | 7 |
| Fannie Mae Pool #995674 6.00% 5/1/2038 <sup>(g)</sup>  | 228 | 240 |
| Fannie Mae Pool #AD0119 6.00% 7/1/2038 <sup>(g)</sup>  | 724 | 762 |
| Fannie Mae Pool #995224 6.00% 9/1/2038 <sup>(g)</sup>  | 6 | 6 |
| Fannie Mae Pool #AE0021 6.00% 10/1/2038 <sup>(g)</sup>  | 231 | 242 |
| Fannie Mae Pool #AL7164 6.00% 10/1/2038 <sup>(g)</sup>  | 141 | 147 |
| Fannie Mae Pool #889983 6.00% 10/1/2038 <sup>(g)</sup>  | 13 | 14 |
| Fannie Mae Pool #AD0095 6.00% 11/1/2038 <sup>(g)</sup>  | 504 | 528 |
| Fannie Mae Pool #AB0538 6.00% 11/1/2038 <sup>(g)</sup>  | 69 | 72 |
| Fannie Mae Pool #995391 6.00% 11/1/2038 <sup>(g)</sup>  | 10 | 11 |
| Fannie Mae Pool #AD0833 6.00% 1/1/2039 <sup>(g)</sup>  | — <br><sup>(c)</sup><br>| — <br><sup>(c)</sup><br>|
| Fannie Mae Pool #AL0309 6.00% 1/1/2040 <sup>(g)</sup>  | 47 | 49 |
| Fannie Mae Pool #AL0013 6.00% 4/1/2040 <sup>(g)</sup>  | 137 | 144 |
| Fannie Mae Pool #AL7228 6.00% 4/1/2041 <sup>(g)</sup>  | 167 | 174 |
| Fannie Mae Pool #AB4536 6.00% 6/1/2041 <sup>(g)</sup>  | 336 | 351 |
| Fannie Mae Pool #MA4387 2.00% 7/1/2041 <sup>(g)</sup>  | 5520 | 4763 |
| Fannie Mae Pool #FS0305 1.50% 1/1/2042 <sup>(g)</sup>  | 16669 | 13782 |
| Fannie Mae Pool #AP2131 3.50% 8/1/2042 <sup>(g)</sup>  | 2457 | 2308 |
| Fannie Mae Pool #AU8813 4.00% 11/1/2043 <sup>(g)</sup>  | 1527 | 1471 |
| Fannie Mae Pool #AU9350 4.00% 11/1/2043 <sup>(g)</sup>  | 830 | 800 |
| Fannie Mae Pool #AU9348 4.00% 11/1/2043 <sup>(g)</sup>  | 815 | 786 |
| Fannie Mae Pool #AL8773 3.50% 2/1/2045 <sup>(g)</sup>  | 4247 | 3986 |
| Fannie Mae Pool #FM9416 3.50% 7/1/2045 <sup>(g)</sup>  | 6952 | 6458 |
| Fannie Mae Pool #AL8354 3.50% 10/1/2045 <sup>(g)</sup>  | 989 | 921 |
| Fannie Mae Pool #AL8522 3.50% 5/1/2046 <sup>(g)</sup>  | 2175 | 2019 |
| Fannie Mae Pool #BC7611 4.00% 5/1/2046 <sup>(g)</sup>  | 80 | 76 |
| Fannie Mae Pool #AS8310 3.00% 11/1/2046 <sup>(g)</sup>  | 290 | 261 |
| Fannie Mae Pool #BD9307 4.00% 11/1/2046 <sup>(g)</sup>  | 1234 | 1170 |
| Fannie Mae Pool #BD9699 3.50% 12/1/2046 <sup>(g)</sup>  | 1226 | 1128 |
| Fannie Mae Pool #BE1290 3.50% 2/1/2047 <sup>(g)</sup>  | 1825 | 1681 |
| Fannie Mae Pool #BM1179 3.00% 4/1/2047 <sup>(g)</sup>  | 375 | 337 |
| Fannie Mae Pool #256975 7.00% 10/1/2047 <sup>(g)</sup>  | 2 | 2 |
| Fannie Mae Pool #CA0770 3.50% 11/1/2047 <sup>(g)</sup>  | 1259 | 1153 |
| Fannie Mae Pool #MA3211 4.00% 12/1/2047 <sup>(g)</sup>  | 2105 | 1999 |
| Fannie Mae Pool #MA3277 4.00% 2/1/2048 <sup>(g)</sup>  | 8 | 8 |
| Fannie Mae Pool #BK5255 4.00% 5/1/2048 <sup>(g)</sup>  | 9 | 9 |
| Fannie Mae Pool #FM3278 3.50% 11/1/2048 <sup>(g)</sup>  | 13393 | 12303 |
| Fannie Mae Pool #FM3280 3.50% 5/1/2049 <sup>(g)</sup>  | 1798 | 1672 |
| Fannie Mae Pool #CA4756 3.00% 12/1/2049 <sup>(g)</sup>  | 1390 | 1234 |
| Fannie Mae Pool #BN7443 2.50% 3/1/2050 <sup>(g)</sup>  | 31 | 26 |
| Fannie Mae Pool #CA5968 2.50% 6/1/2050 <sup>(g)</sup>  | 4580 | 3862 |
| Fannie Mae Pool #BP5576 2.50% 6/1/2050 <sup>(g)</sup>  | 404 | 336 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **94** |

---

------

Asset Allocation Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** |  |  |
| Fannie Mae Pool #CA6593 2.50% 8/1/2050 <sup>(g)</sup>  | USD10,266 | $8665 |
| Fannie Mae Pool #CA7052 3.00% 9/1/2050 <sup>(g)</sup>  | 304 | 266 |
| Fannie Mae Pool #BQ7589 2.00% 11/1/2050 <sup>(g)</sup>  | 2329 | 1848 |
| Fannie Mae Pool #CA7737 2.50% 11/1/2050 <sup>(g)</sup>  | 8416 | 7083 |
| Fannie Mae Pool #CA7599 2.50% 11/1/2050 <sup>(g)</sup>  | 1305 | 1103 |
| Fannie Mae Pool #CA7743 2.50% 11/1/2050 <sup>(g)</sup>  | 715 | 595 |
| Fannie Mae Pool #FM4897 3.00% 11/1/2050 <sup>(g)</sup>  | 11550 | 10313 |
| Fannie Mae Pool #BQ7646 2.00% 12/1/2050 <sup>(g)</sup>  | 1956 | 1552 |
| Fannie Mae Pool #BQ8497 2.00% 12/1/2050 <sup>(g)</sup>  | 1609 | 1275 |
| Fannie Mae Pool #FS9792 4.50% 12/1/2050 <sup>(g)</sup>  | 1036 | 1008 |
| Fannie Mae Pool #MA4237 2.00% 1/1/2051 <sup>(g)</sup>  | 5151 | 4110 |
| Fannie Mae Pool #FS5929 2.50% 1/1/2051 <sup>(g)</sup>  | 778 | 647 |
| Fannie Mae Pool #FM5944 2.50% 1/1/2051 <sup>(g)</sup>  | 79 | 66 |
| Fannie Mae Pool #FS3550 2.50% 1/1/2051 <sup>(g)</sup>  | 29 | 24 |
| Fannie Mae Pool #BR3255 2.00% 2/1/2051 <sup>(g)</sup>  | 6030 | 4780 |
| Fannie Mae Pool #FM5963 2.00% 2/1/2051 <sup>(g)</sup>  | 1837 | 1456 |
| Fannie Mae Pool #CA8828 2.50% 2/1/2051 <sup>(g)</sup>  | 3200 | 2701 |
| Fannie Mae Pool #CA8962 2.50% 2/1/2051 <sup>(g)</sup>  | 60 | 50 |
| Fannie Mae Pool #CB0290 2.00% 4/1/2051 <sup>(g)</sup>  | 4141 | 3287 |
| Fannie Mae Pool #FS1086 2.00% 4/1/2051 <sup>(g)</sup>  | 1760 | 1395 |
| Fannie Mae Pool #CA9494 2.50% 4/1/2051 <sup>(g)</sup>  | 96 | 80 |
| Fannie Mae Pool #CB0191 3.00% 4/1/2051 <sup>(g)</sup>  | 4542 | 3969 |
| Fannie Mae Pool #CB0193 3.00% 4/1/2051 <sup>(g)</sup>  | 559 | 489 |
| Fannie Mae Pool #BR0999 2.50% 5/1/2051 <sup>(g)</sup>  | 828 | 688 |
| Fannie Mae Pool #FM7222 2.50% 5/1/2051 <sup>(g)</sup>  | 778 | 646 |
| Fannie Mae Pool #CB0910 2.50% 6/1/2051 <sup>(g)</sup>  | 34956 | 29022 |
| Fannie Mae Pool #FM7740 2.50% 6/1/2051 <sup>(g)</sup>  | 9291 | 7714 |
| Fannie Mae Pool #FM7909 3.00% 6/1/2051 <sup>(g)</sup>  | 414 | 362 |
| Fannie Mae Pool #MA4378 2.00% 7/1/2051 <sup>(g)</sup>  | 154 | 123 |
| Fannie Mae Pool #FM9530 2.50% 7/1/2051 <sup>(g)</sup>  | 2059 | 1710 |
| Fannie Mae Pool #FM8434 2.00% 8/1/2051 <sup>(g)</sup>  | 5970 | 4733 |
| Fannie Mae Pool #FM8453 3.00% 8/1/2051 <sup>(g)</sup>  | 3904 | 3456 |
| Fannie Mae Pool #CB1304 3.00% 8/1/2051 <sup>(g)</sup>  | 71 | 62 |
| Fannie Mae Pool #FS1630 2.50% 9/1/2051 <sup>(g)</sup>  | 1338 | 1111 |
| Fannie Mae Pool #BT7263 2.50% 9/1/2051 <sup>(g)</sup>  | 661 | 549 |
| Fannie Mae Pool #FS5125 2.50% 10/1/2051 <sup>(g)</sup>  | 840 | 698 |
| Fannie Mae Pool #FS3298 2.50% 10/1/2051 <sup>(g)</sup>  | 536 | 445 |
| Fannie Mae Pool #BU2530 2.50% 10/1/2051 <sup>(g)</sup>  | 134 | 111 |
| Fannie Mae Pool #FM9335 2.50% 10/1/2051 <sup>(g)</sup>  | 92 | 77 |
| Fannie Mae Pool #MA4465 2.00% 11/1/2051 <sup>(g)</sup>  | 7704 | 6123 |
| Fannie Mae Pool #FM9646 2.00% 11/1/2051 <sup>(g)</sup>  | 5300 | 4201 |
| Fannie Mae Pool #CB2078 3.00% 11/1/2051 <sup>(g)</sup>  | 7975 | 6967 |
| Fannie Mae Pool #MA4492 2.00% 12/1/2051 <sup>(g)</sup>  | 2437 | 1937 |
| Fannie Mae Pool #CB2286 2.50% 12/1/2051 <sup>(g)</sup>  | 14266 | 11989 |
| Fannie Mae Pool #CB2375 2.50% 12/1/2051 <sup>(g)</sup>  | 6680 | 5611 |
| Fannie Mae Pool #CB2319 2.50% 12/1/2051 <sup>(g)</sup>  | 162 | 136 |
| Fannie Mae Pool #BT9483 2.50% 12/1/2051 <sup>(g)</sup>  | 78 | 66 |
| Fannie Mae Pool #CB2372 2.50% 12/1/2051 <sup>(g)</sup>  | 77 | 65 |
| Fannie Mae Pool #BT9510 2.50% 12/1/2051 <sup>(g)</sup>  | 77 | 65 |
| Fannie Mae Pool #BQ7006 2.00% 1/1/2052 <sup>(g)</sup>  | 2944 | 2338 |
| Fannie Mae Pool #MA4512 2.50% 1/1/2052 <sup>(g)</sup>  | 124 | 103 |
| Fannie Mae Pool #FS3549 2.50% 1/1/2052 <sup>(g)</sup>  | 65 | 54 |
| Fannie Mae Pool #FS0182 3.00% 1/1/2052 <sup>(g)</sup>  | 10085 | 8812 |
| Fannie Mae Pool #BV3076 2.00% 2/1/2052 <sup>(g)</sup>  | 6678 | 5298 |
| Fannie Mae Pool #MA4547 2.00% 2/1/2052 <sup>(g)</sup>  | 5115 | 4063 |
| Fannie Mae Pool #BT1968 2.00% 2/1/2052 <sup>(g)</sup>  | 1824 | 1447 |
| Fannie Mae Pool #BV3083 2.00% 2/1/2052 <sup>(g)</sup>  | 991 | 786 |
| Fannie Mae Pool #FS2660 2.50% 2/1/2052 <sup>(g)</sup>  | 2133 | 1774 |
| Fannie Mae Pool #FS1080 2.50% 2/1/2052 <sup>(g)</sup>  | 1947 | 1617 |
| Fannie Mae Pool #BV3674 2.50% 2/1/2052 <sup>(g)</sup>  | 728 | 607 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **95** | American Funds Insurance Series |

---

------

Asset Allocation Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** |  |  |
| Fannie Mae Pool #FS1885 2.50% 2/1/2052 <sup>(g)</sup>  | USD636 | $528 |
| Fannie Mae Pool #FS0647 3.00% 2/1/2052 <sup>(g)</sup>  | 53834 | 47420 |
| Fannie Mae Pool #BV3101 2.00% 3/1/2052 <sup>(g)</sup>  | 2963 | 2348 |
| Fannie Mae Pool #FS1742 2.00% 3/1/2052 <sup>(g)</sup>  | 2462 | 1956 |
| Fannie Mae Pool #MA4562 2.00% 3/1/2052 <sup>(g)</sup>  | 1826 | 1449 |
| Fannie Mae Pool #BV4169 2.00% 3/1/2052 <sup>(g)</sup>  | 1312 | 1040 |
| Fannie Mae Pool #BV4172 2.00% 3/1/2052 <sup>(g)</sup>  | 1300 | 1030 |
| Fannie Mae Pool #BV0162 2.00% 3/1/2052 <sup>(g)</sup>  | 115 | 91 |
| Fannie Mae Pool #BV4173 2.50% 3/1/2052 <sup>(g)</sup>  | 813 | 678 |
| Fannie Mae Pool #CB3063 2.50% 3/1/2052 <sup>(g)</sup>  | 739 | 616 |
| Fannie Mae Pool #CB3031 2.50% 3/1/2052 <sup>(g)</sup>  | 642 | 535 |
| Fannie Mae Pool #BV4119 2.50% 3/1/2052 <sup>(g)</sup>  | 163 | 136 |
| Fannie Mae Pool #CB3744 2.50% 3/1/2052 <sup>(g)</sup>  | 24 | 20 |
| Fannie Mae Pool #FS0931 3.00% 3/1/2052 <sup>(g)</sup>  | 352 | 305 |
| Fannie Mae Pool #MA4577 2.00% 4/1/2052 <sup>(g)</sup>  | 5929 | 4714 |
| Fannie Mae Pool #FS1598 2.00% 4/1/2052 <sup>(g)</sup>  | 3022 | 2400 |
| Fannie Mae Pool #BV4182 2.50% 4/1/2052 <sup>(g)</sup>  | 909 | 757 |
| Fannie Mae Pool #FS1749 2.50% 4/1/2052 <sup>(g)</sup>  | 880 | 733 |
| Fannie Mae Pool #BV5332 2.50% 4/1/2052 <sup>(g)</sup>  | 877 | 731 |
| Fannie Mae Pool #BU9507 2.50% 4/1/2052 <sup>(g)</sup>  | 162 | 135 |
| Fannie Mae Pool #BV5370 2.50% 4/1/2052 <sup>(g)</sup>  | 138 | 115 |
| Fannie Mae Pool #CB3379 4.00% 4/1/2052 <sup>(g)</sup>  | 657 | 613 |
| Fannie Mae Pool #FS9189 2.00% 5/1/2052 <sup>(g)</sup>  | 9713 | 7721 |
| Fannie Mae Pool #BV9644 2.50% 5/1/2052 <sup>(g)</sup>  | 940 | 783 |
| Fannie Mae Pool #MA4598 2.50% 5/1/2052 <sup>(g)</sup>  | 869 | 723 |
| Fannie Mae Pool #BW2204 2.50% 5/1/2052 <sup>(g)</sup>  | 153 | 127 |
| Fannie Mae Pool #BW0462 2.50% 5/1/2052 <sup>(g)</sup>  | 153 | 127 |
| Fannie Mae Pool #BV8592 2.50% 5/1/2052 <sup>(g)</sup>  | 118 | 98 |
| Fannie Mae Pool #FS7329 2.00% 6/1/2052 <sup>(g)</sup>  | 2416 | 1917 |
| Fannie Mae Pool #MA4623 2.50% 6/1/2052 <sup>(g)</sup>  | 786 | 654 |
| Fannie Mae Pool #MA4626 4.00% 6/1/2052 <sup>(g)</sup>  | 5830 | 5436 |
| Fannie Mae Pool #CB4021 4.00% 6/1/2052 <sup>(g)</sup>  | 1363 | 1272 |
| Fannie Mae Pool #BW2918 4.50% 6/1/2052 <sup>(g)</sup>  | 5085 | 4876 |
| Fannie Mae Pool #FS6986 2.00% 7/1/2052 <sup>(g)</sup>  | 5004 | 3968 |
| Fannie Mae Pool #CB4123 4.00% 7/1/2052 <sup>(g)</sup>  | 23 | 21 |
| Fannie Mae Pool #BV7912 2.50% 8/1/2052 <sup>(g)</sup>  | 156 | 130 |
| Fannie Mae Pool #BV8015 2.50% 8/1/2052 <sup>(g)</sup>  | 94 | 78 |
| Fannie Mae Pool #BW1192 4.50% 9/1/2052 <sup>(g)</sup>  | 629 | 602 |
| Fannie Mae Pool #CB4620 5.00% 9/1/2052 <sup>(g)</sup>  | 1007 | 995 |
| Fannie Mae Pool #FS3056 2.00% 10/1/2052 <sup>(g)</sup>  | 16546 | 13126 |
| Fannie Mae Pool #BX2841 4.00% 10/1/2052 <sup>(g)</sup>  | 15 | 14 |
| Fannie Mae Pool #CB4852 4.50% 10/1/2052 <sup>(g)</sup>  | 10696 | 10257 |
| Fannie Mae Pool #BX0097 4.50% 10/1/2052 <sup>(g)</sup>  | 839 | 806 |
| Fannie Mae Pool #MA4785 5.00% 10/1/2052 <sup>(g)</sup>  | 450 | 444 |
| Fannie Mae Pool #BX0463 4.00% 11/1/2052 <sup>(g)</sup>  | 982 | 915 |
| Fannie Mae Pool #BW1299 4.00% 11/1/2052 <sup>(g)</sup>  | 936 | 873 |
| Fannie Mae Pool #MA4805 4.50% 11/1/2052 <sup>(g)</sup>  | 9896 | 9490 |
| Fannie Mae Pool #FS5554 4.50% 11/1/2052 <sup>(g)</sup>  | 2995 | 2873 |
| Fannie Mae Pool #CB5764 2.50% 12/1/2052 <sup>(g)</sup>  | 887 | 738 |
| Fannie Mae Pool #MA4842 5.50% 12/1/2052 <sup>(g)</sup>  | 2361 | 2369 |
| Fannie Mae Pool #BW5062 4.00% 1/1/2053 <sup>(g)</sup>  | 22 | 20 |
| Fannie Mae Pool #FS5520 4.50% 1/1/2053 <sup>(g)</sup>  | 2695 | 2582 |
| Fannie Mae Pool #BX3263 4.00% 2/1/2053 <sup>(g)</sup>  | 569 | 530 |
| Fannie Mae Pool #MA4919 5.50% 2/1/2053 <sup>(g)</sup>  | 982 | 985 |
| Fannie Mae Pool #BW5000 4.00% 3/1/2053 <sup>(g)</sup>  | 902 | 841 |
| Fannie Mae Pool #FS4191 5.50% 3/1/2053 <sup>(g)</sup>  | 2515 | 2533 |
| Fannie Mae Pool #BX9358 4.00% 4/1/2053 <sup>(g)</sup>  | 327 | 304 |
| Fannie Mae Pool #MA4978 5.00% 4/1/2053 <sup>(g)</sup>  | 2143 | 2108 |
| Fannie Mae Pool #MA5027 4.00% 5/1/2053 <sup>(g)</sup>  | 6967 | 6492 |
| Fannie Mae Pool #MA5009 5.00% 5/1/2053 <sup>(g)</sup>  | 10714 | 10537 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **96** |

---

------

Asset Allocation Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** |  |  |
| Fannie Mae Pool #FS4563 5.00% 5/1/2053 <sup>(g)</sup>  | USD765 | $756 |
| Fannie Mae Pool #FS4840 5.50% 5/1/2053 <sup>(g)</sup>  | 963 | 964 |
| Fannie Mae Pool #MA5010 5.50% 5/1/2053 <sup>(g)</sup>  | 170 | 171 |
| Fannie Mae Pool #FS4736 6.50% 5/1/2053 <sup>(g)</sup>  | 239 | 248 |
| Fannie Mae Pool #BW9618 3.00% 6/1/2053 <sup>(g)</sup>  | 285 | 247 |
| Fannie Mae Pool #MA5038 5.00% 6/1/2053 <sup>(g)</sup>  | 25639 | 25196 |
| Fannie Mae Pool #MA5039 5.50% 6/1/2053 <sup>(g)</sup>  | 613 | 614 |
| Fannie Mae Pool #CB6491 6.50% 6/1/2053 <sup>(g)</sup>  | 1250 | 1302 |
| Fannie Mae Pool #CB6490 6.50% 6/1/2053 <sup>(g)</sup>  | 444 | 461 |
| Fannie Mae Pool #CB6468 6.50% 6/1/2053 <sup>(g)</sup>  | 325 | 339 |
| Fannie Mae Pool #FS7823 2.00% 7/1/2053 <sup>(g)</sup>  | 11488 | 9125 |
| Fannie Mae Pool #FS9167 2.50% 7/1/2053 <sup>(g)</sup>  | 840 | 697 |
| Fannie Mae Pool #FS6632 2.50% 7/1/2053 <sup>(g)</sup>  | 786 | 653 |
| Fannie Mae Pool #MA5089 4.00% 7/1/2053 <sup>(g)</sup>  | 9490 | 8840 |
| Fannie Mae Pool #MA5070 4.50% 7/1/2053 <sup>(g)</sup>  | 13850 | 13277 |
| Fannie Mae Pool #MA5072 5.50% 7/1/2053 <sup>(g)</sup>  | 2308 | 2313 |
| Fannie Mae Pool #MA5107 5.50% 8/1/2053 <sup>(g)</sup>  | 101 | 101 |
| Fannie Mae Pool #CB7104 5.50% 9/1/2053 <sup>(g)</sup>  | 5473 | 5487 |
| Fannie Mae Pool #MA5139 6.00% 9/1/2053 <sup>(g)</sup>  | 20042 | 20408 |
| Fannie Mae Pool #MA5165 5.50% 10/1/2053 <sup>(g)</sup>  | 1775 | 1778 |
| Fannie Mae Pool #MA5166 6.00% 10/1/2053 <sup>(g)</sup>  | 4871 | 4960 |
| Fannie Mae Pool #MA5207 4.00% 11/1/2053 <sup>(g)</sup>  | 15359 | 14300 |
| Fannie Mae Pool #BY1418 4.00% 11/1/2053 <sup>(g)</sup>  | 14504 | 13506 |
| Fannie Mae Pool #FS6838 5.50% 11/1/2053 <sup>(g)</sup>  | 4114 | 4121 |
| Fannie Mae Pool #MA5191 6.00% 11/1/2053 <sup>(g)</sup>  | 7362 | 7497 |
| Fannie Mae Pool #BY1448 4.00% 12/1/2053 <sup>(g)</sup>  | 11356 | 10574 |
| Fannie Mae Pool #FS6668 5.50% 12/1/2053 <sup>(g)</sup>  | 273 | 273 |
| Fannie Mae Pool #FS6873 6.50% 1/1/2054 <sup>(g)</sup>  | 7518 | 7774 |
| Fannie Mae Pool #FS6767 6.50% 1/1/2054 <sup>(g)</sup>  | 2197 | 2283 |
| Fannie Mae Pool #BY1343 4.00% 2/1/2054 <sup>(g)</sup>  | 12395 | 11537 |
| Fannie Mae Pool #FS7990 4.00% 2/1/2054 <sup>(g)</sup>  | 1962 | 1826 |
| Fannie Mae Pool #MA5271 5.50% 2/1/2054 <sup>(g)</sup>  | 636 | 637 |
| Fannie Mae Pool #FS6809 5.50% 2/1/2054 <sup>(g)</sup>  | 542 | 542 |
| Fannie Mae Pool #CB7932 6.00% 2/1/2054 <sup>(g)</sup>  | 3263 | 3330 |
| Fannie Mae Pool #CB7933 6.50% 2/1/2054 <sup>(g)</sup>  | 2266 | 2344 |
| Fannie Mae Pool #MA5296 5.50% 3/1/2054 <sup>(g)</sup>  | 11351 | 11359 |
| Fannie Mae Pool #CB8151 5.50% 3/1/2054 <sup>(g)</sup>  | 4859 | 4873 |
| Fannie Mae Pool #MA5295 6.00% 3/1/2054 <sup>(g)</sup>  | 896 | 912 |
| Fannie Mae Pool #CB8163 6.00% 3/1/2054 <sup>(g)</sup>  | 888 | 909 |
| Fannie Mae Pool #CB8168 6.00% 3/1/2054 <sup>(g)</sup>  | 9 | 9 |
| Fannie Mae Pool #CB8337 5.50% 4/1/2054 <sup>(g)</sup>  | 7444 | 7469 |
| Fannie Mae Pool #MA5388 5.50% 6/1/2054 <sup>(g)</sup>  | 1120 | 1121 |
| Fannie Mae Pool #DB6878 6.00% 6/1/2054 <sup>(g)</sup>  | 2259 | 2299 |
| Fannie Mae Pool #FS8153 6.00% 6/1/2054 <sup>(g)</sup>  | 1021 | 1045 |
| Fannie Mae Pool #CB8755 6.00% 6/1/2054 <sup>(g)</sup>  | 993 | 1016 |
| Fannie Mae Pool #FS8223 6.00% 6/1/2054 <sup>(g)</sup>  | 860 | 877 |
| Fannie Mae Pool #FS8219 6.00% 6/1/2054 <sup>(g)</sup>  | 805 | 825 |
| Fannie Mae Pool #CB8725 6.50% 6/1/2054 <sup>(g)</sup>  | 1009 | 1048 |
| Fannie Mae Pool #DB5480 6.50% 6/1/2054 <sup>(g)</sup>  | 60 | 62 |
| Fannie Mae Pool #DB5213 5.50% 7/1/2054 <sup>(g)</sup>  | 6048 | 6053 |
| Fannie Mae Pool #CB8842 5.50% 7/1/2054 <sup>(g)</sup>  | 2419 | 2423 |
| Fannie Mae Pool #BU4699 5.50% 7/1/2054 <sup>(g)</sup>  | 1495 | 1497 |
| Fannie Mae Pool #MA5421 6.00% 7/1/2054 <sup>(g)</sup>  | 12501 | 12716 |
| Fannie Mae Pool #DB6901 6.00% 7/1/2054 <sup>(g)</sup>  | 1411 | 1436 |
| Fannie Mae Pool #DB7039 6.00% 7/1/2054 <sup>(g)</sup>  | 698 | 713 |
| Fannie Mae Pool #BU4700 6.00% 7/1/2054 <sup>(g)</sup>  | 504 | 514 |
| Fannie Mae Pool #MA5422 6.50% 7/1/2054 <sup>(g)</sup>  | 6917 | 7149 |
| Fannie Mae Pool #FS8619 6.50% 7/1/2054 <sup>(g)</sup>  | 4621 | 4812 |
| Fannie Mae Pool #FS8607 6.50% 7/1/2054 <sup>(g)</sup>  | 3438 | 3580 |
| Fannie Mae Pool #CB8872 6.50% 7/1/2054 <sup>(g)</sup>  | 1573 | 1638 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **97** | American Funds Insurance Series |

---

------

Asset Allocation Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** |  |  |
| Fannie Mae Pool #CB8876 6.50% 7/1/2054 <sup>(g)</sup>  | USD469 | $488 |
| Fannie Mae Pool #FS8317 6.50% 7/1/2054 <sup>(g)</sup>  | 270 | 281 |
| Fannie Mae Pool #CB8977 5.00% 8/1/2054 <sup>(g)</sup>  | 454 | 445 |
| Fannie Mae Pool #DB7783 5.50% 8/1/2054 <sup>(g)</sup>  | 1403 | 1408 |
| Fannie Mae Pool #MA5445 6.00% 8/1/2054 <sup>(g)</sup>  | 9453 | 9617 |
| Fannie Mae Pool #FS8757 6.00% 8/1/2054 <sup>(g)</sup>  | 2887 | 2956 |
| Fannie Mae Pool #FS8758 6.00% 8/1/2054 <sup>(g)</sup>  | 1614 | 1645 |
| Fannie Mae Pool #BU4916 6.00% 8/1/2054 <sup>(g)</sup>  | 1361 | 1387 |
| Fannie Mae Pool #FS8756 6.00% 8/1/2054 <sup>(g)</sup>  | 1183 | 1210 |
| Fannie Mae Pool #FS8795 6.00% 8/1/2054 <sup>(g)</sup>  | 1167 | 1188 |
| Fannie Mae Pool #BU4968 6.00% 8/1/2054 <sup>(g)</sup>  | 954 | 970 |
| Fannie Mae Pool #DB7687 6.00% 8/1/2054 <sup>(g)</sup>  | 356 | 364 |
| Fannie Mae Pool #DB7690 6.00% 8/1/2054 <sup>(g)</sup>  | 279 | 285 |
| Fannie Mae Pool #DC0296 6.00% 8/1/2054 <sup>(g)</sup>  | 275 | 281 |
| Fannie Mae Pool #CB9071 6.50% 8/1/2054 <sup>(g)</sup>  | 1830 | 1906 |
| Fannie Mae Pool #FS8783 6.50% 8/1/2054 <sup>(g)</sup>  | 1337 | 1392 |
| Fannie Mae Pool #CB9210 5.50% 9/1/2054 <sup>(g)</sup>  | 3829 | 3841 |
| Fannie Mae Pool #FS9025 5.50% 9/1/2054 <sup>(g)</sup>  | 2421 | 2435 |
| Fannie Mae Pool #CB9146 5.50% 9/1/2054 <sup>(g)</sup>  | 2298 | 2310 |
| Fannie Mae Pool #BU4946 5.50% 9/1/2054 <sup>(g)</sup>  | 1169 | 1170 |
| Fannie Mae Pool #FS8866 6.00% 9/1/2054 <sup>(g)</sup>  | 2955 | 3023 |
| Fannie Mae Pool #MA5494 4.00% 10/1/2054 <sup>(g)</sup>  | 6658 | 6197 |
| Fannie Mae Pool #DC5642 4.00% 11/1/2054 <sup>(g)</sup>  | 1872 | 1743 |
| Fannie Mae Pool #MA5530 5.00% 11/1/2054 <sup>(g)</sup>  | 20081 | 19697 |
| Fannie Mae Pool #BU5165 5.50% 11/1/2054 <sup>(g)</sup>  | 1900 | 1903 |
| Fannie Mae Pool #DC6894 5.50% 11/1/2054 <sup>(g)</sup>  | 502 | 502 |
| Fannie Mae Pool #MA5531 5.50% 11/1/2054 <sup>(g)</sup>  | 310 | 310 |
| Fannie Mae Pool #MA5552 5.00% 12/1/2054 <sup>(g)</sup>  | 24032 | 23574 |
| Fannie Mae Pool #BU5361 5.00% 12/1/2054 <sup>(g)</sup>  | 1095 | 1076 |
| Fannie Mae Pool #CB9616 5.50% 12/1/2054 <sup>(g)</sup>  | 1450 | 1452 |
| Fannie Mae Pool #FA0287 6.00% 12/1/2054 <sup>(g)</sup>  | 27343 | 27808 |
| Fannie Mae Pool #DC7035 6.00% 12/1/2054 <sup>(g)</sup>  | 3069 | 3120 |
| Fannie Mae Pool #DC7823 6.00% 12/1/2054 <sup>(g)</sup>  | 341 | 347 |
| Fannie Mae Pool #MA5583 4.00% 1/1/2055 <sup>(g)</sup>  | 841 | 783 |
| Fannie Mae Pool #CB9736 4.50% 1/1/2055 <sup>(g)</sup>  | 13705 | 13118 |
| Fannie Mae Pool #CB9737 5.00% 1/1/2055 <sup>(g)</sup>  | 1956 | 1921 |
| Fannie Mae Pool #MA5587 6.00% 1/1/2055 <sup>(g)</sup>  | 4789 | 4871 |
| Fannie Mae Pool #DD0835 6.00% 1/1/2055 <sup>(g)</sup>  | 2808 | 2855 |
| Fannie Mae Pool #DC9721 6.50% 1/1/2055 <sup>(g)</sup>  | 17221 | 17806 |
| Fannie Mae Pool #FA0608 5.50% 2/1/2055 <sup>(g)</sup>  | 1825 | 1827 |
| Fannie Mae Pool #MA5615 6.00% 2/1/2055 <sup>(g)</sup>  | 22612 | 22994 |
| Fannie Mae Pool #MA5631 6.50% 2/1/2055 <sup>(g)</sup>  | 5681 | 5870 |
| Fannie Mae Pool #MA5644 4.50% 3/1/2055 <sup>(g)</sup>  | 14938 | 14298 |
| Fannie Mae Pool #MA5647 6.00% 3/1/2055 <sup>(g)</sup>  | 7363 | 7486 |
| Fannie Mae Pool #MA5670 4.00% 4/1/2055 <sup>(g)</sup>  | 25308 | 23550 |
| Fannie Mae Pool #MA5671 4.50% 4/1/2055 <sup>(g)</sup>  | 15703 | 15030 |
| Fannie Mae Pool #MA5674 6.00% 4/1/2055 <sup>(g)</sup>  | 6045 | 6148 |
| Fannie Mae Pool #MA5675 6.50% 4/1/2055 <sup>(g)</sup>  | 259 | 268 |
| Fannie Mae Pool #MA5699 5.00% 5/1/2055 <sup>(g)</sup>  | 3888 | 3813 |
| Fannie Mae Pool #MA5701 6.00% 5/1/2055 <sup>(g)</sup>  | 10004 | 10172 |
| Fannie Mae Pool #MA5734 5.00% 6/1/2055 <sup>(g)</sup>  | 1988 | 1949 |
| Fannie Mae Pool #MA5735 5.50% 6/1/2055 <sup>(g)</sup>  | 168 | 168 |
| Fannie Mae Pool #BF0133 4.00% 8/1/2056 <sup>(g)</sup>  | 5401 | 5043 |
| Fannie Mae Pool #BM6736 4.50% 11/1/2059 <sup>(g)</sup>  | 9400 | 9090 |
| Fannie Mae Pool #BF0497 3.00% 7/1/2060 <sup>(g)</sup>  | 3321 | 2864 |
| Fannie Mae Pool #BF0546 2.50% 7/1/2061 <sup>(g)</sup>  | 9297 | 7394 |
| Fannie Mae Pool #BF0762 3.00% 9/1/2063 <sup>(g)</sup>  | 763 | 645 |
| Fannie Mae Pool #BF0784 3.50% 12/1/2063 <sup>(g)</sup>  | 3230 | 2861 |
| Fannie Mae Pool #BF0786 4.00% 12/1/2063 <sup>(g)</sup>  | 3613 | 3341 |
| Fannie Mae, Series 2002-W3, Class A5, 7.50% 11/25/2041 <sup>(g)</sup>  | 19 | 20 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **98** |

---

------

Asset Allocation Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** |  |  |
| Fannie Mae, Series 2001-T10, Class A1, 7.00% 12/25/2041 <sup>(g)</sup>  | USD54 | $55 |
| Fannie Mae, Series 2006-43, Class JO, principal only, 0% 6/25/2036 <sup>(g)</sup>  | 26 | 23 |
| Freddie Mac Pool #C91912 3.00% 2/1/2037 <sup>(g)</sup>  | 7241 | 6866 |
| Freddie Mac Pool #SB0649 2.50% 4/1/2037 <sup>(g)</sup>  | 183 | 171 |
| Freddie Mac Pool #SB1388 2.50% 1/1/2038 <sup>(g)</sup>  | 52 | 49 |
| Freddie Mac Pool #G03978 5.00% 3/1/2038 <sup>(g)</sup>  | 327 | 332 |
| Freddie Mac Pool #G04553 6.50% 9/1/2038 <sup>(g)</sup>  | 37 | 39 |
| Freddie Mac Pool #G08347 4.50% 6/1/2039 <sup>(g)</sup>  | 49 | 49 |
| Freddie Mac Pool #RB5071 2.00% 9/1/2040 <sup>(g)</sup>  | 18245 | 15828 |
| Freddie Mac Pool #C03518 5.00% 9/1/2040 <sup>(g)</sup>  | 479 | 486 |
| Freddie Mac Pool #Q05807 4.00% 1/1/2042 <sup>(g)</sup>  | 1243 | 1202 |
| Freddie Mac Pool #Q23185 4.00% 11/1/2043 <sup>(g)</sup>  | 901 | 869 |
| Freddie Mac Pool #Q23190 4.00% 11/1/2043 <sup>(g)</sup>  | 586 | 566 |
| Freddie Mac Pool #760014 3.889% 8/1/2045 <sup>(g)(h)</sup>  | 140 | 139 |
| Freddie Mac Pool #Q37988 4.00% 12/1/2045 <sup>(g)</sup>  | 3958 | 3768 |
| Freddie Mac Pool #G60344 4.00% 12/1/2045 <sup>(g)</sup>  | 3780 | 3607 |
| Freddie Mac Pool #Z40130 3.00% 1/1/2046 <sup>(g)</sup>  | 3337 | 3032 |
| Freddie Mac Pool #Q41090 4.50% 6/1/2046 <sup>(g)</sup>  | 191 | 187 |
| Freddie Mac Pool #Q41909 4.50% 7/1/2046 <sup>(g)</sup>  | 192 | 188 |
| Freddie Mac Pool #760015 3.45% 1/1/2047 <sup>(g)(h)</sup>  | 344 | 335 |
| Freddie Mac Pool #Q46021 3.50% 2/1/2047 <sup>(g)</sup>  | 1055 | 974 |
| Freddie Mac Pool #SI2002 4.00% 3/1/2048 <sup>(g)</sup>  | 1837 | 1740 |
| Freddie Mac Pool #Z40273 4.50% 10/1/2048 <sup>(g)</sup>  | 1581 | 1540 |
| Freddie Mac Pool #RA3055 2.50% 7/1/2050 <sup>(g)</sup>  | 755 | 628 |
| Freddie Mac Pool #RA3384 3.00% 8/1/2050 <sup>(g)</sup>  | 309 | 271 |
| Freddie Mac Pool #SD8106 2.00% 11/1/2050 <sup>(g)</sup>  | 25275 | 20177 |
| Freddie Mac Pool #SD7528 2.00% 11/1/2050 <sup>(g)</sup>  | 14701 | 11844 |
| Freddie Mac Pool #QB7306 2.00% 1/1/2051 <sup>(g)</sup>  | 1783 | 1413 |
| Freddie Mac Pool #QB8934 2.50% 2/1/2051 <sup>(g)</sup>  | 34 | 28 |
| Freddie Mac Pool #RA4542 2.50% 2/1/2051 <sup>(g)</sup>  | 24 | 20 |
| Freddie Mac Pool #SI2108 2.50% 4/1/2051 <sup>(g)</sup>  | 58 | 48 |
| Freddie Mac Pool #RA5288 2.00% 5/1/2051 <sup>(g)</sup>  | 26126 | 21009 |
| Freddie Mac Pool #SD3095 2.50% 7/1/2051 <sup>(g)</sup>  | 668 | 555 |
| Freddie Mac Pool #SD7544 3.00% 7/1/2051 <sup>(g)</sup>  | 336 | 296 |
| Freddie Mac Pool #SD8160 2.00% 8/1/2051 <sup>(g)</sup>  | 793 | 631 |
| Freddie Mac Pool #RA5782 2.50% 9/1/2051 <sup>(g)</sup>  | 8375 | 7055 |
| Freddie Mac Pool #SD7545 2.50% 9/1/2051 <sup>(g)</sup>  | 5715 | 4823 |
| Freddie Mac Pool #SD2963 2.50% 9/1/2051 <sup>(g)</sup>  | 808 | 671 |
| Freddie Mac Pool #SD5485 2.50% 9/1/2051 <sup>(g)</sup>  | 48 | 40 |
| Freddie Mac Pool #RA5971 3.00% 9/1/2051 <sup>(g)</sup>  | 5553 | 4888 |
| Freddie Mac Pool #QC6456 3.00% 9/1/2051 <sup>(g)</sup>  | 640 | 554 |
| Freddie Mac Pool #RA6136 2.50% 10/1/2051 <sup>(g)</sup>  | 2955 | 2453 |
| Freddie Mac Pool #SD0734 3.00% 10/1/2051 <sup>(g)</sup>  | 149 | 132 |
| Freddie Mac Pool #QD1841 2.00% 11/1/2051 <sup>(g)</sup>  | 3771 | 2991 |
| Freddie Mac Pool #SD8182 2.00% 12/1/2051 <sup>(g)</sup>  | 1621 | 1288 |
| Freddie Mac Pool #RA6483 2.50% 12/1/2051 <sup>(g)</sup>  | 5655 | 4750 |
| Freddie Mac Pool #SD2629 2.50% 1/1/2052 <sup>(g)</sup>  | 2642 | 2195 |
| Freddie Mac Pool #SD7552 2.50% 1/1/2052 <sup>(g)</sup>  | 1987 | 1674 |
| Freddie Mac Pool #RA6614 2.50% 1/1/2052 <sup>(g)</sup>  | 918 | 763 |
| Freddie Mac Pool #SD0813 3.00% 1/1/2052 <sup>(g)</sup>  | 284 | 250 |
| Freddie Mac Pool #QD7414 2.00% 2/1/2052 <sup>(g)</sup>  | 1663 | 1320 |
| Freddie Mac Pool #RA6114 2.00% 2/1/2052 <sup>(g)</sup>  | 1598 | 1268 |
| Freddie Mac Pool #QD5748 2.00% 2/1/2052 <sup>(g)</sup>  | 853 | 676 |
| Freddie Mac Pool #SD8193 2.00% 2/1/2052 <sup>(g)</sup>  | 828 | 658 |
| Freddie Mac Pool #QD7312 2.50% 2/1/2052 <sup>(g)</sup>  | 538 | 449 |
| Freddie Mac Pool #QD7089 3.50% 2/1/2052 <sup>(g)</sup>  | 822 | 746 |
| Freddie Mac Pool #SD5343 2.00% 3/1/2052 <sup>(g)</sup>  | 3841 | 3050 |
| Freddie Mac Pool #SD8199 2.00% 3/1/2052 <sup>(g)</sup>  | 2909 | 2311 |
| Freddie Mac Pool #QD7772 2.00% 3/1/2052 <sup>(g)</sup>  | 1742 | 1381 |
| Freddie Mac Pool #QD8408 2.00% 3/1/2052 <sup>(g)</sup>  | 1077 | 854 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **99** | American Funds Insurance Series |

---

------

Asset Allocation Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** |  |  |
| Freddie Mac Pool #QD8103 2.00% 3/1/2052 <sup>(g)</sup>  | USD854 | $677 |
| Freddie Mac Pool #QD8820 2.00% 3/1/2052 <sup>(g)</sup>  | 255 | 202 |
| Freddie Mac Pool #SD5745 2.00% 3/1/2052 <sup>(g)</sup>  | 56 | 45 |
| Freddie Mac Pool #QD9460 2.50% 3/1/2052 <sup>(g)</sup>  | 838 | 698 |
| Freddie Mac Pool #RA7091 2.50% 3/1/2052 <sup>(g)</sup>  | 29 | 24 |
| Freddie Mac Pool #SD8204 2.00% 4/1/2052 <sup>(g)</sup>  | 2950 | 2343 |
| Freddie Mac Pool #QD9950 2.00% 4/1/2052 <sup>(g)</sup>  | 1836 | 1456 |
| Freddie Mac Pool #QD9791 2.00% 4/1/2052 <sup>(g)</sup>  | 1559 | 1237 |
| Freddie Mac Pool #QE0312 2.00% 4/1/2052 <sup>(g)</sup>  | 1064 | 843 |
| Freddie Mac Pool #QD9907 2.50% 4/1/2052 <sup>(g)</sup>  | 772 | 643 |
| Freddie Mac Pool #QE0812 2.50% 4/1/2052 <sup>(g)</sup>  | 591 | 492 |
| Freddie Mac Pool #QE1005 2.50% 4/1/2052 <sup>(g)</sup>  | 359 | 298 |
| Freddie Mac Pool #SD3478 2.50% 4/1/2052 <sup>(g)</sup>  | 111 | 92 |
| Freddie Mac Pool #SD7554 2.50% 4/1/2052 <sup>(g)</sup>  | 76 | 64 |
| Freddie Mac Pool #QE1578 2.50% 5/1/2052 <sup>(g)</sup>  | 812 | 676 |
| Freddie Mac Pool #QE2020 2.50% 5/1/2052 <sup>(g)</sup>  | 156 | 130 |
| Freddie Mac Pool #QE2111 2.50% 5/1/2052 <sup>(g)</sup>  | 118 | 98 |
| Freddie Mac Pool #QE3448 2.50% 5/1/2052 <sup>(g)</sup>  | 24 | 20 |
| Freddie Mac Pool #SD8213 3.00% 5/1/2052 <sup>(g)</sup>  | 29984 | 26009 |
| Freddie Mac Pool #SD4807 2.00% 6/1/2052 <sup>(g)</sup>  | 3568 | 2841 |
| Freddie Mac Pool #SD8220 3.00% 6/1/2052 <sup>(g)</sup>  | 15027 | 13020 |
| Freddie Mac Pool #QE4383 4.00% 6/1/2052 <sup>(g)</sup>  | 2152 | 2006 |
| Freddie Mac Pool #SD8225 3.00% 7/1/2052 <sup>(g)</sup>  | 29751 | 25803 |
| Freddie Mac Pool #SD7556 3.00% 8/1/2052 <sup>(g)</sup>  | 1164 | 1020 |
| Freddie Mac Pool #QE7976 4.50% 8/1/2052 <sup>(g)(i)</sup>  | 36298 | 34932 |
| Freddie Mac Pool #QE8579 4.50% 8/1/2052 <sup>(g)</sup>  | 176 | 169 |
| Freddie Mac Pool #SD8262 2.50% 9/1/2052 <sup>(g)</sup>  | 863 | 717 |
| Freddie Mac Pool #SD1581 2.50% 9/1/2052 <sup>(g)</sup>  | 100 | 83 |
| Freddie Mac Pool #QF0212 4.50% 9/1/2052 <sup>(g)</sup>  | 808 | 775 |
| Freddie Mac Pool #QE9497 4.50% 9/1/2052 <sup>(g)</sup>  | 203 | 195 |
| Freddie Mac Pool #SD1608 4.50% 9/1/2052 <sup>(g)</sup>  | 119 | 114 |
| Freddie Mac Pool #RA7938 5.00% 9/1/2052 <sup>(g)</sup>  | 1051 | 1035 |
| Freddie Mac Pool #QF2023 4.00% 10/1/2052 <sup>(g)</sup>  | 29 | 27 |
| Freddie Mac Pool #QF1236 4.50% 10/1/2052 <sup>(g)</sup>  | 1160 | 1112 |
| Freddie Mac Pool #SD2465 4.50% 10/1/2052 <sup>(g)</sup>  | 79 | 76 |
| Freddie Mac Pool #SD8266 4.50% 11/1/2052 <sup>(g)</sup>  | 2998 | 2875 |
| Freddie Mac Pool #SD8276 5.00% 12/1/2052 <sup>(g)</sup>  | 5187 | 5111 |
| Freddie Mac Pool #QF5938 2.50% 1/1/2053 <sup>(g)</sup>  | 223 | 186 |
| Freddie Mac Pool #SD8287 4.50% 1/1/2053 <sup>(g)</sup>  | 16126 | 15466 |
| Freddie Mac Pool #RA8625 2.50% 2/1/2053 <sup>(g)</sup>  | 927 | 771 |
| Freddie Mac Pool #QF7871 2.50% 2/1/2053 <sup>(g)</sup>  | 744 | 618 |
| Freddie Mac Pool #SD8297 4.00% 2/1/2053 <sup>(g)</sup>  | 1846 | 1720 |
| Freddie Mac Pool #SD8305 4.00% 3/1/2053 <sup>(g)</sup>  | 16971 | 15796 |
| Freddie Mac Pool #SD2716 5.00% 4/1/2053 <sup>(g)</sup>  | 1188 | 1174 |
| Freddie Mac Pool #SD8321 4.00% 5/1/2053 <sup>(g)</sup>  | 11519 | 10734 |
| Freddie Mac Pool #RA8647 4.50% 5/1/2053 <sup>(g)</sup>  | 81 | 77 |
| Freddie Mac Pool #SD8323 5.00% 5/1/2053 <sup>(g)</sup>  | 10350 | 10171 |
| Freddie Mac Pool #SD8338 4.00% 6/1/2053 <sup>(g)</sup>  | 3365 | 3132 |
| Freddie Mac Pool #SD8329 5.00% 6/1/2053 <sup>(g)</sup>  | 3633 | 3570 |
| Freddie Mac Pool #SD8331 5.50% 6/1/2053 <sup>(g)</sup>  | 2741 | 2747 |
| Freddie Mac Pool #RA9294 6.50% 6/1/2053 <sup>(g)</sup>  | 589 | 613 |
| Freddie Mac Pool #RA9292 6.50% 6/1/2053 <sup>(g)</sup>  | 511 | 532 |
| Freddie Mac Pool #RA9288 6.50% 6/1/2053 <sup>(g)</sup>  | 494 | 516 |
| Freddie Mac Pool #RA9289 6.50% 6/1/2053 <sup>(g)</sup>  | 480 | 502 |
| Freddie Mac Pool #RA9287 6.50% 6/1/2053 <sup>(g)</sup>  | 338 | 354 |
| Freddie Mac Pool #RA9290 6.50% 6/1/2053 <sup>(g)</sup>  | 258 | 269 |
| Freddie Mac Pool #RA9291 6.50% 6/1/2053 <sup>(g)</sup>  | 163 | 169 |
| Freddie Mac Pool #RA9295 6.50% 6/1/2053 <sup>(g)</sup>  | 142 | 151 |
| Freddie Mac Pool #SD3417 2.50% 7/1/2053 <sup>(g)</sup>  | 863 | 719 |
| Freddie Mac Pool #SD8353 4.00% 7/1/2053 <sup>(g)</sup>  | 9181 | 8549 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **100** |

---

------

Asset Allocation Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** |  |  |
| Freddie Mac Pool #SD8341 5.00% 7/1/2053 <sup>(g)</sup>  | USD28 | $28 |
| Freddie Mac Pool #SD8342 5.50% 7/1/2053 <sup>(g)</sup>  | 8411 | 8433 |
| Freddie Mac Pool #SD3432 6.00% 7/1/2053 <sup>(g)</sup>  | 693 | 712 |
| Freddie Mac Pool #QH1153 4.00% 9/1/2053 <sup>(g)</sup>  | 388 | 362 |
| Freddie Mac Pool #SD8362 5.50% 9/1/2053 <sup>(g)</sup>  | 26525 | 26569 |
| Freddie Mac Pool #SD4550 2.50% 10/1/2053 <sup>(g)</sup>  | 849 | 705 |
| Freddie Mac Pool #SD4077 2.50% 10/1/2053 <sup>(g)</sup>  | 102 | 85 |
| Freddie Mac Pool #SD4053 6.00% 10/1/2053 <sup>(g)</sup>  | 4872 | 4961 |
| Freddie Mac Pool #SD8390 4.00% 11/1/2053 <sup>(g)</sup>  | 1962 | 1826 |
| Freddie Mac Pool #SD4977 5.00% 11/1/2053 <sup>(g)</sup>  | 127362 | 125162 |
| Freddie Mac Pool #SD8372 5.50% 11/1/2053 <sup>(g)</sup>  | 23225 | 23285 |
| Freddie Mac Pool #RJ0326 6.50% 11/1/2053 <sup>(g)</sup>  | 728 | 756 |
| Freddie Mac Pool #SD4693 6.50% 1/1/2054 <sup>(g)</sup>  | 587 | 608 |
| Freddie Mac Pool #SD8397 6.50% 1/1/2054 <sup>(g)</sup>  | 455 | 470 |
| Freddie Mac Pool #RJ0854 6.50% 1/1/2054 <sup>(g)</sup>  | 295 | 306 |
| Freddie Mac Pool #QI0231 5.00% 2/1/2054 <sup>(g)</sup>  | 40 | 39 |
| Freddie Mac Pool #SD8401 5.50% 2/1/2054 <sup>(g)</sup>  | 438 | 438 |
| Freddie Mac Pool #SD8402 6.00% 2/1/2054 <sup>(g)</sup>  | 13204 | 13438 |
| Freddie Mac Pool #RJ1871 4.00% 3/1/2054 <sup>(g)</sup>  | 302 | 281 |
| Freddie Mac Pool #SD8408 5.50% 3/1/2054 <sup>(g)</sup>  | 11702 | 11711 |
| Freddie Mac Pool #RJ1015 6.50% 3/1/2054 <sup>(g)</sup>  | 120 | 125 |
| Freddie Mac Pool #QI3548 4.00% 4/1/2054 <sup>(g)</sup>  | 673 | 627 |
| Freddie Mac Pool #RJ1216 5.50% 4/1/2054 <sup>(g)</sup>  | 1590 | 1602 |
| Freddie Mac Pool #RJ1215 5.50% 4/1/2054 <sup>(g)</sup>  | 1160 | 1163 |
| Freddie Mac Pool #QI3333 6.00% 4/1/2054 <sup>(g)</sup>  | 402 | 410 |
| Freddie Mac Pool #RJ1417 5.50% 5/1/2054 <sup>(g)</sup>  | 15641 | 15754 |
| Freddie Mac Pool #RJ1419 5.50% 5/1/2054 <sup>(g)</sup>  | 7744 | 7755 |
| Freddie Mac Pool #RJ1448 5.50% 5/1/2054 <sup>(g)</sup>  | 2939 | 2943 |
| Freddie Mac Pool #SD5692 6.00% 5/1/2054 <sup>(g)</sup>  | 511 | 524 |
| Freddie Mac Pool #RJ1768 5.50% 6/1/2054 <sup>(g)</sup>  | 440 | 442 |
| Freddie Mac Pool #RJ1785 6.00% 6/1/2054 <sup>(g)</sup>  | 1650 | 1689 |
| Freddie Mac Pool #RJ1779 6.00% 6/1/2054 <sup>(g)</sup>  | 1166 | 1195 |
| Freddie Mac Pool #RJ1797 6.50% 6/1/2054 <sup>(g)</sup>  | 1774 | 1837 |
| Freddie Mac Pool #RJ1725 6.50% 6/1/2054 <sup>(g)</sup>  | 508 | 531 |
| Freddie Mac Pool #QI8825 5.00% 7/1/2054 <sup>(g)</sup>  | 1956 | 1920 |
| Freddie Mac Pool #SD8446 5.50% 7/1/2054 <sup>(g)</sup>  | 1021 | 1022 |
| Freddie Mac Pool #QI8872 5.50% 7/1/2054 <sup>(g)</sup>  | 751 | 752 |
| Freddie Mac Pool #RJ1963 5.50% 7/1/2054 <sup>(g)</sup>  | 632 | 632 |
| Freddie Mac Pool #SD8447 6.00% 7/1/2054 <sup>(g)</sup>  | 6950 | 7070 |
| Freddie Mac Pool #SD5813 6.00% 7/1/2054 <sup>(g)</sup>  | 3099 | 3177 |
| Freddie Mac Pool #SD5896 6.00% 7/1/2054 <sup>(g)</sup>  | 712 | 725 |
| Freddie Mac Pool #QI8874 6.00% 7/1/2054 <sup>(g)</sup>  | 209 | 213 |
| Freddie Mac Pool #SD8448 6.50% 7/1/2054 <sup>(g)</sup>  | 5999 | 6201 |
| Freddie Mac Pool #RJ1986 6.50% 7/1/2054 <sup>(g)</sup>  | 5428 | 5620 |
| Freddie Mac Pool #SD5905 6.50% 7/1/2054 <sup>(g)</sup>  | 2113 | 2200 |
| Freddie Mac Pool #RJ2193 5.00% 8/1/2054 <sup>(g)</sup>  | 377 | 371 |
| Freddie Mac Pool #RJ2241 5.00% 8/1/2054 <sup>(g)</sup>  | 268 | 263 |
| Freddie Mac Pool #RJ2195 5.00% 8/1/2054 <sup>(g)</sup>  | 240 | 235 |
| Freddie Mac Pool #RJ2200 5.50% 8/1/2054 <sup>(g)</sup>  | 6211 | 6230 |
| Freddie Mac Pool #RJ2206 5.50% 8/1/2054 <sup>(g)</sup>  | 3978 | 3992 |
| Freddie Mac Pool #RJ2243 5.50% 8/1/2054 <sup>(g)</sup>  | 3559 | 3566 |
| Freddie Mac Pool #SD6286 5.50% 8/1/2054 <sup>(g)</sup>  | 1171 | 1179 |
| Freddie Mac Pool #RJ2203 5.50% 8/1/2054 <sup>(g)</sup>  | 652 | 656 |
| Freddie Mac Pool #SD8454 6.00% 8/1/2054 <sup>(g)</sup>  | 5281 | 5371 |
| Freddie Mac Pool #RJ2212 6.00% 8/1/2054 <sup>(g)</sup>  | 2900 | 2976 |
| Freddie Mac Pool #RJ2216 6.00% 8/1/2054 <sup>(g)</sup>  | 2862 | 2916 |
| Freddie Mac Pool #SD6029 6.00% 8/1/2054 <sup>(g)</sup>  | 1821 | 1863 |
| Freddie Mac Pool #RJ2210 6.00% 8/1/2054 <sup>(g)</sup>  | 967 | 985 |
| Freddie Mac Pool #RJ2222 6.50% 8/1/2054 <sup>(g)</sup>  | 1766 | 1839 |
| Freddie Mac Pool #RJ2247 6.50% 8/1/2054 <sup>(g)</sup>  | 1464 | 1524 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **101** | American Funds Insurance Series |

---

------

Asset Allocation Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** |  |  |
| Freddie Mac Pool #RJ2228 6.50% 8/1/2054 <sup>(g)</sup>  | USD875 | $907 |
| Freddie Mac Pool #RJ2422 5.50% 9/1/2054 <sup>(g)</sup>  | 3633 | 3645 |
| Freddie Mac Pool #SD6328 5.50% 9/1/2054 <sup>(g)</sup>  | 3093 | 3120 |
| Freddie Mac Pool #RJ2298 5.50% 9/1/2054 <sup>(g)</sup>  | 2393 | 2401 |
| Freddie Mac Pool #QJ3044 5.50% 9/1/2054 <sup>(g)</sup>  | 2384 | 2385 |
| Freddie Mac Pool #RJ2415 5.50% 9/1/2054 <sup>(g)</sup>  | 1536 | 1546 |
| Freddie Mac Pool #RJ2408 5.50% 9/1/2054 <sup>(g)</sup>  | 1383 | 1386 |
| Freddie Mac Pool #SD8462 5.50% 9/1/2054 <sup>(g)</sup>  | 1180 | 1181 |
| Freddie Mac Pool #RJ2314 6.00% 9/1/2054 <sup>(g)</sup>  | 6273 | 6392 |
| Freddie Mac Pool #RJ2312 6.00% 9/1/2054 <sup>(g)</sup>  | 3411 | 3490 |
| Freddie Mac Pool #RJ2308 6.00% 9/1/2054 <sup>(g)</sup>  | 3220 | 3305 |
| Freddie Mac Pool #RJ2306 6.00% 9/1/2054 <sup>(g)</sup>  | 2991 | 3070 |
| Freddie Mac Pool #RJ2309 6.00% 9/1/2054 <sup>(g)</sup>  | 1833 | 1867 |
| Freddie Mac Pool #SD8463 6.00% 9/1/2054 <sup>(g)</sup>  | 829 | 843 |
| Freddie Mac Pool #SD8464 6.50% 9/1/2054 <sup>(g)</sup>  | 7787 | 8048 |
| Freddie Mac Pool #SD6271 6.50% 9/1/2054 <sup>(g)</sup>  | 1177 | 1221 |
| Freddie Mac Pool #QJ4693 6.50% 9/1/2054 <sup>(g)</sup>  | 597 | 622 |
| Freddie Mac Pool #RJ2474 6.50% 9/1/2054 <sup>(g)</sup>  | 383 | 397 |
| Freddie Mac Pool #RJ2411 6.50% 9/1/2054 <sup>(g)</sup>  | 265 | 276 |
| Freddie Mac Pool #RJ2470 6.50% 9/1/2054 <sup>(g)</sup>  | 141 | 146 |
| Freddie Mac Pool #SD8469 5.50% 10/1/2054 <sup>(g)</sup>  | 1589 | 1590 |
| Freddie Mac Pool #SD8471 6.50% 10/1/2054 <sup>(g)</sup>  | 419 | 433 |
| Freddie Mac Pool #RJ2850 4.50% 11/1/2054 <sup>(g)</sup>  | 2355 | 2256 |
| Freddie Mac Pool #RJ2851 4.50% 11/1/2054 <sup>(g)</sup>  | 134 | 128 |
| Freddie Mac Pool #RJ2860 5.00% 11/1/2054 <sup>(g)</sup>  | 5821 | 5710 |
| Freddie Mac Pool #SD8475 5.50% 11/1/2054 <sup>(g)</sup>  | 6584 | 6589 |
| Freddie Mac Pool #RJ2913 5.50% 11/1/2054 <sup>(g)</sup>  | 5900 | 5915 |
| Freddie Mac Pool #SD8489 4.50% 12/1/2054 <sup>(g)</sup>  | 41540 | 39760 |
| Freddie Mac Pool #RJ3017 5.00% 12/1/2054 <sup>(g)</sup>  | 6398 | 6282 |
| Freddie Mac Pool #RJ3163 5.00% 12/1/2054 <sup>(g)</sup>  | 3747 | 3677 |
| Freddie Mac Pool #QX1743 5.00% 12/1/2054 <sup>(g)</sup>  | 936 | 920 |
| Freddie Mac Pool #QX2834 5.00% 12/1/2054 <sup>(g)</sup>  | 309 | 304 |
| Freddie Mac Pool #SD8493 5.50% 12/1/2054 <sup>(g)</sup>  | 3278 | 3280 |
| Freddie Mac Pool #QX0376 5.50% 12/1/2054 <sup>(g)</sup>  | 1307 | 1309 |
| Freddie Mac Pool #QX1414 5.50% 12/1/2054 <sup>(g)</sup>  | 293 | 293 |
| Freddie Mac Pool #SD8494 5.50% 1/1/2055 <sup>(g)</sup>  | 4392 | 4394 |
| Freddie Mac Pool #QX4065 6.00% 1/1/2055 <sup>(g)</sup>  | 1917 | 1949 |
| Freddie Mac Pool #SD8486 6.50% 1/1/2055 <sup>(g)</sup>  | 100 | 103 |
| Freddie Mac Pool #SD8503 4.00% 2/1/2055 <sup>(g)</sup>  | 3172 | 2951 |
| Freddie Mac Pool #RJ3264 4.50% 2/1/2055 <sup>(g)</sup>  | 3997 | 3827 |
| Freddie Mac Pool #SD8505 5.00% 2/1/2055 <sup>(g)</sup>  | 2987 | 2929 |
| Freddie Mac Pool #SD8506 5.50% 2/1/2055 <sup>(g)</sup>  | 182 | 182 |
| Freddie Mac Pool #SD8507 6.00% 2/1/2055 <sup>(g)</sup>  | 2934 | 2983 |
| Freddie Mac Pool #SD8515 5.50% 3/1/2055 <sup>(g)</sup>  | 1074 | 1074 |
| Freddie Mac Pool #SD8516 6.00% 3/1/2055 <sup>(g)</sup>  | 390 | 396 |
| Freddie Mac Pool #SD8517 6.50% 3/1/2055 <sup>(g)</sup>  | 1785 | 1845 |
| Freddie Mac Pool #SL1094 5.00% 4/1/2055 <sup>(g)</sup>  | 1687 | 1655 |
| Freddie Mac Pool #SL0796 6.00% 4/1/2055 <sup>(g)</sup>  | 5518 | 5611 |
| Freddie Mac Pool #SD8525 6.00% 4/1/2055 <sup>(g)</sup>  | 5359 | 5449 |
| Freddie Mac Pool #QY2186 6.50% 4/1/2055 <sup>(g)</sup>  | 4855 | 5017 |
| Freddie Mac Pool #SD8526 6.50% 4/1/2055 <sup>(g)</sup>  | 1640 | 1694 |
| Freddie Mac Pool #SD8532 5.00% 5/1/2055 <sup>(g)</sup>  | 3572 | 3504 |
| Freddie Mac Pool #SD8533 5.50% 5/1/2055 <sup>(g)</sup>  | 61 | 61 |
| Freddie Mac Pool #SD8534 6.00% 5/1/2055 <sup>(g)</sup>  | 1422 | 1445 |
| Freddie Mac Pool #SL1138 6.00% 5/1/2055 <sup>(g)</sup>  | 765 | 778 |
| Freddie Mac Pool #SL1137 6.00% 5/1/2055 <sup>(g)</sup>  | 704 | 716 |
| Freddie Mac Pool #RQ0010 4.00% 6/1/2055 <sup>(g)</sup>  | 42 | 39 |
| Freddie Mac Pool #RQ0012 5.00% 6/1/2055 <sup>(g)</sup>  | 2098 | 2057 |
| Freddie Mac Pool #RQ0013 5.50% 6/1/2055 <sup>(g)</sup>  | 386 | 386 |
| Freddie Mac Pool #RQ0028 6.00% 7/1/2055 <sup>(g)</sup>  | 26271 | 26711 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **102** |

---

------

Asset Allocation Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** |  |  |
| Freddie Mac, Series T041, Class 3A, 4.45% 7/25/2032 <sup>(g)(h)</sup>  | USD148 | $136 |
| Freddie Mac, Series K755, Class A2, Multi Family, 5.203% 2/25/2031 <sup>(g)</sup>  | 10192 | 10655 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-1, Class HA, 3.00% 1/25/2056 <sup>(g)(h)</sup>  | 2047 | 1923 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-3, Class HA, 3.25% 7/25/2056 <sup>(g)(h)</sup>  | 884 | 840 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-2, Class MA, 3.00% 8/25/2056 <sup>(g)</sup>  | 4060 | 3793 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-2, Class HA, 3.00% 8/25/2056 <sup>(g)(h)</sup>  | 3930 | 3686 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-4, Class HT, 3.25% 6/25/2057 <sup>(g)(h)</sup>  | 765 | 690 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-4, Class MT, 3.50% 6/25/2057 <sup>(g)</sup>  | 639 | 574 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2018-3, Class MA, 3.50% 8/25/2057 <sup>(g)</sup>  | 1240 | 1196 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2018-2, Class MT, 3.50% 11/25/2057 <sup>(g)</sup>  | 1628 | 1460 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-2, Class MA, 3.50% 8/25/2058 <sup>(g)</sup>  | 6893 | 6591 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-4, Class MA, 3.00% 2/25/2059 <sup>(g)</sup>  | 4032 | 3739 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2018-2, Class A1, 3.50% 11/25/2028 <sup>(g)</sup>  | 1606 | 1562 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2019-1, Class A1, 3.50% 5/25/2029 <sup>(g)</sup>  | 3146 | 3050 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2019-1, Class A2, 3.50% 5/25/2029 <sup>(g)</sup>  | 2455 | 2374 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2019-3, Class A1C, 2.75% 11/25/2029 <sup>(g)</sup>  | 1955 | 1857 |
| Government National Mortgage Assn. Pool #BD7245 4.00% 1/20/2048 <sup>(g)</sup>  | 411 | 384 |
| Government National Mortgage Assn. Pool #MA5652 4.50% 12/20/2048 <sup>(g)</sup>  | 256 | 250 |
| Government National Mortgage Assn. Pool #MA6602 4.50% 4/20/2050 <sup>(g)</sup>  | 152 | 148 |
| Government National Mortgage Assn. Pool #MA6994 2.00% 11/20/2050 <sup>(g)</sup>  | 6651 | 5424 |
| Government National Mortgage Assn. Pool #MA7051 2.00% 12/20/2050 <sup>(g)</sup>  | 66491 | 54207 |
| Government National Mortgage Assn. Pool #MA7259 4.50% 3/20/2051 <sup>(g)</sup>  | 1322 | 1289 |
| Government National Mortgage Assn. Pool #MA7316 4.50% 4/20/2051 <sup>(g)</sup>  | 364 | 355 |
| Government National Mortgage Assn. Pool #MA7827 2.50% 1/20/2052 <sup>(g)</sup>  | 138 | 118 |
| Government National Mortgage Assn. Pool #MA7881 2.50% 2/20/2052 <sup>(g)</sup>  | 19601 | 16674 |
| Government National Mortgage Assn. Pool #MA7936 2.50% 3/20/2052 <sup>(g)</sup>  | 4775 | 4062 |
| Government National Mortgage Assn. Pool #MA7937 3.00% 3/20/2052 <sup>(g)</sup>  | 17975 | 15920 |
| Government National Mortgage Assn. Pool #MA7987 2.50% 4/20/2052 <sup>(g)</sup>  | 772 | 656 |
| Government National Mortgage Assn. Pool #MA7988 3.00% 4/20/2052 <sup>(g)</sup>  | 13647 | 12084 |
| Government National Mortgage Assn. Pool #MA8099 3.50% 6/20/2052 <sup>(g)</sup>  | 128 | 117 |
| Government National Mortgage Assn. Pool #MA8197 2.50% 8/20/2052 <sup>(g)</sup>  | 824 | 703 |
| Government National Mortgage Assn. Pool #MA8266 3.50% 9/20/2052 <sup>(g)</sup>  | 628 | 573 |
| Government National Mortgage Assn. Pool #MA8346 4.00% 10/20/2052 <sup>(g)</sup>  | 9635 | 9027 |
| Government National Mortgage Assn. Pool #MA8425 3.50% 11/20/2052 <sup>(g)</sup>  | 30121 | 27525 |
| Government National Mortgage Assn. Pool #MA8485 2.50% 12/20/2052 <sup>(g)</sup>  | 2178 | 1852 |
| Government National Mortgage Assn. Pool #MA8642 2.50% 2/20/2053 <sup>(g)</sup>  | 1859 | 1594 |
| Government National Mortgage Assn. Pool #MA9015 4.50% 7/20/2053 <sup>(g)</sup>  | 2934 | 2822 |
| Government National Mortgage Assn. Pool #MA9104 4.50% 8/20/2053 <sup>(g)</sup>  | 24822 | 23853 |
| Government National Mortgage Assn. Pool #MA9776 4.00% 7/20/2054 <sup>(g)</sup>  | 5140 | 4787 |
| Government National Mortgage Assn., Series 2021-2, Class AH, 1.50% 6/16/2063 <sup>(g)</sup>  | 2023 | 1479 |
| Uniform Mortgage-Backed Security 2.00% 7/1/2055 <sup>(g)(j)</sup>  | 27010 | 21388 |
| Uniform Mortgage-Backed Security 2.50% 7/1/2055 <sup>(g)(j)</sup>  | 184341 | 152871 |
| Uniform Mortgage-Backed Security 3.00% 7/1/2055 <sup>(g)(j)</sup>  | 329 | 285 |
| Uniform Mortgage-Backed Security 3.50% 7/1/2055 <sup>(g)(j)</sup>  | 16339 | 14712 |
| Uniform Mortgage-Backed Security 4.00% 7/1/2055 <sup>(g)(j)</sup>  | 5029 | 4677 |
| Uniform Mortgage-Backed Security 4.50% 7/1/2055 <sup>(g)(j)</sup>  | 33 | 32 |
| Uniform Mortgage-Backed Security 5.50% 7/1/2055 <sup>(g)(j)</sup>  | 2036 | 2036 |
| Uniform Mortgage-Backed Security 6.00% 7/1/2055 <sup>(g)(j)</sup>  | 81295 | 82618 |
| Uniform Mortgage-Backed Security 2.00% 8/1/2055 <sup>(g)(j)</sup>  | 1024 | 811 |
| Uniform Mortgage-Backed Security 3.00% 8/1/2055 <sup>(g)(j)</sup>  | 7719 | 6679 |
| Uniform Mortgage-Backed Security 3.50% 8/1/2055 <sup>(g)(j)</sup>  | 133584 | 120248 |
| Uniform Mortgage-Backed Security 4.00% 8/1/2055 <sup>(g)(j)</sup>  | 10641 | 9894 |
| Uniform Mortgage-Backed Security 6.50% 8/1/2055 <sup>(g)(j)</sup>  | 107699 | 111049 |
|  |  | 2613173 |
| **Commercial mortgage-backed securities 0.84%** |  |  |
| Bank Commercial Mortgage Trust, Series 2022-BNK43, Class A5, 4.399% 8/15/2055 <sup>(g)</sup>  | 1400 | 1356 |
| Bank Commercial Mortgage Trust, Series 2023-BNK45, Class A5, 5.203% 2/15/2056 <sup>(g)</sup>  | 645 | 655 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **103** | American Funds Insurance Series |

---

------

Asset Allocation Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Commercial mortgage-backed securities (continued)** |  |  |
| Bank Commercial Mortgage Trust, Series 2023-5YR4, Class A3, 6.50% 12/15/2056 <sup>(g)</sup>  | USD5,368 | $5662 |
| Bank Commercial Mortgage Trust, Series 2023-5YR4, Class AS, 7.274% 12/15/2056 <sup>(g)(h)</sup>  | 857 | 918 |
| Bank Commercial Mortgage Trust, Series 2024-5YR9, Class A3, 5.614% 8/15/2057 <sup>(g)</sup>  | 4615 | 4782 |
| Bank Commercial Mortgage Trust, Series 2024-5YR8, Class A3, 5.884% 8/15/2057 <sup>(g)</sup>  | 1380 | 1441 |
| Bank Commercial Mortgage Trust, Series 2024-5YR12, Class A3, 5.902% 12/15/2057 <sup>(g)(h)</sup>  | 4062 | 4265 |
| Bank Commercial Mortgage Trust, Series 2024-5YR12, Class AS, 6.122% 12/15/2057 <sup>(g)(h)</sup>  | 1914 | 2001 |
| Bank Commercial Mortgage Trust, Series 2025-BNK49, Class A5, 5.623% 3/15/2058 <sup>(g)(h)</sup>  | 2753 | 2882 |
| Bank Commercial Mortgage Trust, Series 2020-BN26, Class A4, 2.403% 3/15/2063 <sup>(g)</sup>  | 2909 | 2621 |
| Barclays Commercial Mortgage Securities, LLC, Series 2022-C16, Class A5, 4.60% 6/15/2055 <sup>(g)(h)</sup>  | 490 | 484 |
| Barclays Commercial Mortgage Securities, LLC, Series 2023-C19, Class A5, 5.451% 4/15/2056 <sup>(g)</sup>  | 3006 | 3108 |
| Barclays Commercial Mortgage Securities, LLC, Series 2023-C21, Class A5, 6.00% 9/15/2056 <sup>(g)(h)</sup>  | 1792 | 1912 |
| Barclays Commercial Mortgage Securities, LLC, Series 2024-5C31, Class AS, 5.852% 12/15/2057 <sup>(g)</sup>  | 1828 | 1892 |
| Benchmark Mortgage Trust, Series 2018-B2, Class A4, 3.615% 2/15/2051 <sup>(g)</sup>  | 1000 | 981 |
| Benchmark Mortgage Trust, Series 2020-B17, Class A5, 2.289% 3/15/2053 <sup>(g)</sup>  | 2960 | 2624 |
| Benchmark Mortgage Trust, Series 2018-B7, Class A4, 4.51% 5/15/2053 <sup>(g)(h)</sup>  | 750 | 745 |
| Benchmark Mortgage Trust, Series 2024-V9, Class A3, 5.602% 8/15/2057 <sup>(g)</sup>  | 2112 | 2186 |
| Benchmark Mortgage Trust, Series 2024-V9, Class AS, 6.064% 8/15/2057 <sup>(g)(h)</sup>  | 590 | 614 |
| Benchmark Mortgage Trust, Series 2024-V10, Class A3, 5.277% 9/15/2057 <sup>(g)</sup>  | 618 | 633 |
| BMO Mortgage Trust, Series 2022-C2, Class A5, 4.974% 7/15/2054 <sup>(g)(h)</sup>  | 1750 | 1760 |
| BMO Mortgage Trust, Series 2023-C5, Class A5, 5.765% 6/15/2056 <sup>(g)</sup>  | 1117 | 1167 |
| BMO Mortgage Trust, Series 2024-5C8, Class A3, 5.625% 12/15/2057 <sup>(g)(h)</sup>  | 6990 | 7260 |
| BMO Mortgage Trust, Series 2024-5C8, Class AS, 5.94% 12/15/2057 <sup>(g)(h)</sup>  | 1450 | 1506 |
| BMO Mortgage Trust, Series 2025-5C9, Class A3, 5.779% 4/15/2058 <sup>(g)</sup>  | 3334 | 3484 |
| BX Trust, Series 2024-CNYN, Class A, (1-month USD CME Term SOFR + 1.442%) 5.754% 4/15/2029 <sup>(d)(g)(h)</sup>  | 4665 | 4681 |
| BX Trust, Series 2021-SDMF, Class A, (1-month USD CME Term SOFR + 0.703%) 5.015% 9/15/2034 <sup>(d)(g)(h)</sup>  | 5608 | 5592 |
| BX Trust, Series 2021-VOLT, Class A, (1-month USD CME Term SOFR + 0.814%) 5.126% 9/15/2036 <sup>(d)(g)(h)</sup>  | 4365 | 4352 |
| BX Trust, Series 2021-ARIA, Class A, (1-month USD CME Term SOFR + 1.014%) 5.325% 10/15/2036 <sup>(d)(g)(h)</sup>  | 7968 | 7963 |
| BX Trust, Series 2021-ARIA, Class B, (1-month USD CME Term SOFR + 1.411%) 5.723% 10/15/2036 <sup>(d)(g)(h)</sup>  | 5348 | 5344 |
| BX Trust, Series 2021-SOAR, Class A, (1-month USD CME Term SOFR + 0.784%) 5.096% 6/15/2038 <sup>(d)(g)(h)</sup>  | 3970 | 3970 |
| BX Trust, Series 2021-SOAR, Class B, (1-month USD CME Term SOFR + 0.984%) 5.296% 6/15/2038 <sup>(d)(g)(h)</sup>  | 1070 | 1070 |
| BX Trust, Series 2021-SOAR, Class C, (1-month USD CME Term SOFR + 1.214%) 5.526% 6/15/2038 <sup>(d)(g)(h)</sup>  | 965 | 965 |
| BX Trust, Series 2021-ACNT, Class A, (1-month USD CME Term SOFR + 0.964%) 5.276% 11/15/2038 <sup>(d)(g)(h)</sup>  | 4504 | 4504 |
| BX Trust, Series 2022-AHP, Class A, (1-month USD CME Term SOFR + 0.99%) 5.302% 2/15/2039 <sup>(d)(g)(h)</sup>  | 6334 | 6333 |
| BX Trust, Series 2024-AIRC, Class A, (1-month USD CME Term SOFR + 1.691%) 6.003% 8/15/2039 <sup>(d)(g)(h)</sup>  | 7668 | 7708 |
| BX Trust, Series 2024-BIO2, Class A, 5.594% 8/13/2041 <sup>(d)(g)(h)</sup>  | 11410 | 11575 |
| CALI Mortgage Trust, Series 24-SUN, Class A, (1-month USD CME Term SOFR + 1.89%) 6.203% <br> 7/15/2041 <sup>(d)(g)(h)</sup>  | 1153 | 1156 |
| CALI Mortgage Trust, Series 24-SUN, Class B, (1-month USD CME Term SOFR + 2.34%) 6.652% <br> 7/15/2041 <sup>(d)(g)(h)</sup>  | 1414 | 1419 |
| CART, Series 2024-DFW1, Class A, (1-month USD CME Term SOFR + 1.642%) 5.984% 8/15/2041 <sup>(d)(g)(h)</sup>  | 5162 | 5151 |
| Citigroup Commercial Mortgage Trust, Series 2023-SMRT, Class A, 6.015% 10/12/2040 <sup>(d)(g)(h)</sup>  | 3606 | 3727 |
| DC Commercial Mortgage Trust, Series 2023-DC, Class A, 6.314% 9/10/2040 <sup>(d)(g)</sup>  | 3677 | 3839 |
| Extended Stay America Trust, Series 2021-ESH, Class A, (1-month USD CME Term SOFR + 1.194%) 5.506% <br> 7/15/2038 <sup>(d)(g)(h)</sup>  | 1350 | 1351 |
| Extended Stay America Trust, Series 2021-ESH, Class B, (1-month USD CME Term SOFR + 1.494%) 5.806% <br> 7/15/2038 <sup>(d)(g)(h)</sup>  | 1105 | 1106 |
| Extended Stay America Trust, Series 2021-ESH, Class C, (1-month USD CME Term SOFR + 1.814%) 6.126% <br> 7/15/2038 <sup>(d)(g)(h)</sup>  | 1154 | 1155 |
| Fontainebleau Miami Beach Trust, Series 2024-FBLU, Class A, (1-month USD CME Term SOFR + 1.45%) <br> 5.762% 12/15/2029 <sup>(d)(g)(h)</sup>  | 2748 | 2752 |
| Grace Mortgage Trust, Series 2020-GRCE, Class A, 2.347% 12/10/2040 <sup>(d)(g)</sup>  | 3795 | 3338 |
| Great Wolf Trust, Series 2024-WLF2, Class A, (1-month USD CME Term SOFR + 1.691%) 6.003% <br> 5/15/2041 <sup>(d)(g)(h)</sup>  | 8302 | 8335 |
| GS Mortgage Securities Trust, Series 2023-SHIP, Class B, 5.101% 9/15/2038 <sup>(d)(g)(h)</sup>  | 1214 | 1211 |
| GS Mortgage Securities Trust, Series 2020-GC47, Class A5, 2.377% 5/12/2053 <sup>(g)</sup>  | 2489 | 2246 |
| Hawaii Hotel Trust, Series 2025-MAUI, Class A, (1-month USD CME Term SOFR + 1.393%) 5.705% <br>3/15/2042 <sup>(d)(g)(h)</sup>  | 2059 | 2063 |
| Houston Galleria Mall Trust, Series 2025-HGLR, Class A, 5.644% 2/5/2045 <sup>(d)(g)(h)</sup>  | 5246 | 5393 |
| Hudson Yards Mortgage Trust, Series 2025-SPRL, Class A, 5.649% 1/13/2040 <sup>(d)(g)(h)</sup>  | 10151 | 10475 |
| JPMorgan Chase Commercial Mortgage Securities Trust, Series 2022-OPO, Class A, 3.024% 1/5/2039 <sup>(d)(g)</sup>  | 1522 | 1388 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **104** |

---

------

Asset Allocation Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Commercial mortgage-backed securities (continued)** |  |  |
| JPMorgan Chase Commercial Mortgage Securities Trust, Series 2022-OPO, Class C, 3.377% 1/5/2039 <sup>(d)(g)</sup>  | USD578 | $516 |
| JPMorgan Chase Commercial Mortgage Securities Trust, Series 2022-OPO, Class C, 3.565% <br> 1/5/2039 <sup>(d)(g)(h)</sup>  | 100 | 85 |
| JW Commercial Mortgage Trust 2024-MRCO, Series 2024-BERY, Class A, (1-month USD CME Term SOFR + <br> 1.593%) 5.905% 11/15/2039 <sup>(d)(g)(h)</sup>  | 1960 | 1964 |
| Manhattan West Mortgage Trust, Series 2020-1MW, Class A, 2.13% 9/10/2039 <sup>(d)(g)</sup>  | 13772 | 13031 |
| MHC Commercial Mortgage Trust, CMO, Series 2021-MHC, Class A, (1-month USD CME Term SOFR + <br> 0.915%) 5.227% 4/15/2038 <sup>(d)(g)(h)</sup>  | 487 | 488 |
| Morgan Stanley Capital I Trust, Series 2022-L8, Class A5, 3.792% 4/15/2055 <sup>(g)(h)</sup>  | 370 | 345 |
| Multifamily Connecticut Avenue Securities, Series 2025-01, Class M1, (30-day Average USD-SOFR + 2.40%) <br> 6.705% 5/25/2055 <sup>(d)(g)(h)</sup>  | 577 | 579 |
| SDR Commercial Mortgage Trust, Series 2024-DSNY, Class A, (1-month USD CME Term SOFR + 1.392%) <br> 5.703% 5/15/2039 <sup>(d)(g)(h)</sup>  | 3964 | 3964 |
| SLG Office Trust, Series 2021-OVA, Class A, 2.585% 7/15/2041 <sup>(d)(g)</sup>  | 2194 | 1927 |
| SREIT Trust, Series 2021-MFP, Class A, (1-month USD CME Term SOFR + 0.845%) 5.157% 11/15/2038 <sup>(d)(g)(h)</sup>  | 4033 | 4032 |
| StorageMart Commercial Mortgage Trust, Series 2022-MINI, Class A, (1-month USD CME Term SOFR + <br> 1.00%) 5.312% 1/15/2039 <sup>(d)(g)(h)</sup>  | 10709 | 10674 |
| SWCH Commercial Mortgage Trust, Series 2025-DATA, Class A, (1-month USD CME Term SOFR + 1.443%) <br> 5.755% 3/15/2042 <sup>(d)(g)(h)</sup>  | 9322 | 9268 |
| Wells Fargo Commercial Mortgage Trust, Series 2022-C62, Class A4, 4.00% 4/15/2055 <sup>(g)(h)</sup>  | 1620 | 1532 |
| Wells Fargo Commercial Mortgage Trust, Series 2024-5C1, Class AS, 6.52% 7/15/2057 <sup>(g)</sup>  | 430 | 451 |
| WMRK Commercial Mortgage Trust, Series 2022-WMRK, Class A, (1-month USD CME Term SOFR + <br> 2.789%) 7.101% 11/15/2027 <sup>(d)(g)(h)</sup>  | 5716 | 5728 |
|  |  | 231685 |
| **Collateralized mortgage-backed obligations (privately originated) 0.23%** |  |  |
| Angel Oak Mortgage Trust, Series 2024-7, Class A1, 5.621% 5/25/2069 (6.621% on 7/1/2028) <sup>(d)(g)(k)</sup>  | 6136 | 6161 |
| Arroyo Mortgage Trust, Series 2021-1R, Class A1, 1.175% 10/25/2048 <sup>(d)(g)(h)</sup>  | 672 | 607 |
| BRAVO Residential Funding Trust, Series 2025-NQM5, Class A1, 5.496% 2/25/2065 (6.496% on <br>5/1/2027) <sup>(d)(g)(k)</sup>  | 546 | 550 |
| Cascade Funding Mortgage Trust, Series 2024-RM5, Class A, 4.00% 10/25/2054 <sup>(d)(g)(h)</sup>  | 5671 | 5552 |
| CIM Trust, Series 2025-R1, Class A1, 5.00% 2/25/2099 (8.00% on 3/1/2028) <sup>(d)(g)(k)</sup>  | 1575 | 1558 |
| COLT Funding, LLC, Series 2024-INV3, Class A1, 5.443% 9/25/2069 (6.443% on 8/1/2028) <sup>(d)(g)(k)</sup>  | 2751 | 2757 |
| CS First Boston Mortgage Securities Corp., Series 2004-5, Class IVA1, 6.00% 9/25/2034 <sup>(g)</sup>  | 112 | 114 |
| Finance of America Structured Securities Trust, Series 2025-PC1, Class A1, 4.50% 5/25/2075 <sup>(d)(g)(k)</sup>  | 6582 | 6340 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA6, Class M1A, (30-day Average <br> USD-SOFR + 2.15%) 6.455% 9/25/2042 <sup>(d)(g)(h)</sup>  | 306 | 308 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2024-DNA2, Class A1, (30-day Average <br> USD-SOFR + 1.25%) 5.555% 5/25/2044 <sup>(d)(g)(h)</sup>  | 3642 | 3659 |
| Home Partners of America Trust, Series 2021-2, Class A, 1.901% 12/17/2026 <sup>(d)(g)</sup>  | 3645 | 3510 |
| IRV Trust, Series 2025-200P, Class A, 5.471% 3/14/2047 <sup>(d)(g)(h)</sup>  | 6890 | 6980 |
| MASTR Alternative Loan Trust, Series 2004-2, Class 2A1, 6.00% 2/25/2034 <sup>(g)</sup>  | 212 | 213 |
| Morgan Stanley Residential Mortgage Loan Trust, Series 2024-NQM2, Class A1, 6.386% 5/25/2069 (7.386% <br> on 5/1/2028) <sup>(d)(g)(k)</sup>  | 2448 | 2475 |
| Onslow Bay Financial Mortgage Loan Trust, Series 2025-NQM8, Class A1, 5.472% 3/25/2065 (6.472% on <br> 5/1/2029) <sup>(d)(g)(k)</sup>  | 680 | 683 |
| Onslow Bay Financial, LLC, Series 2022-NQM6, Class A1, 4.70% 7/25/2062 (5.70% on 6/1/2026) <sup>(d)(g)(k)</sup>  | 4511 | 4519 |
| Progress Residential Trust, Series 2025-SFR3, Class A, 3.39% 7/17/2030 <sup>(d)(g)</sup>  | 2635 | 2483 |
| Progress Residential Trust, Series 2021-SFR6, Class A, 1.524% 7/17/2038 <sup>(d)(g)</sup>  | 2446 | 2385 |
| Starwood Mortgage Residential Trust, Series 2024-SFR4, Class A, (1-month USD CME Term SOFR + 1.75%) <br> 6.062% 10/17/2041 <sup>(d)(g)(h)</sup>  | 4925 | 4957 |
| Starwood Mortgage Residential Trust, Series 2025-SFR5, Class A, (1-month USD CME Term SOFR + 1.45%) <br> 5.762% 2/17/2042 <sup>(d)(g)(h)</sup>  | 675 | 676 |
| Towd Point Mortgage Trust, Series 2023-1, Class A1, 3.75% 1/25/2063 <sup>(d)(g)</sup>  | 2490 | 2409 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **105** | American Funds Insurance Series |

---

------

Asset Allocation Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Collateralized mortgage-backed obligations (privately originated) (continued)** |  |  |
| Verus Securitization Trust, Series 2023-5, Class A5, 6.476% 6/25/2068 (7.476% on 6/1/2027) <sup>(d)(g)(k)</sup>  | USD1,910 | $1923 |
| Verus Securitization Trust, Series 24-R1, Class A1, 5.218% 9/25/2069 (6.218% on 10/1/2028) <sup>(d)(g)(k)</sup>  | 1943 | 1943 |
| Verus Securitization Trust, Series 2025-5, Class A1, 5.427% 6/25/2070 (6.427% on 6/1/2029) <sup>(d)(g)(k)</sup>  | 1217 | 1230 |
|  |  | 63992 |
| **Total mortgage-backed obligations** |  | 2908850 |
| **Corporate bonds, notes & loans 7.30%** | **Corporate bonds, notes & loans 7.30%** | **Corporate bonds, notes & loans 7.30%** |
| **Financials 1.75%** |  |  |
| AerCap Ireland Capital DAC 2.45% 10/29/2026  | 4890 | 4766 |
| Aero Capital Solutions, Inc., Term Loan, (1-month USD CME Term SOFR + 3.00%) <br>7.61% 11/17/2029 <sup>(b)(d)(h)(l)</sup>  | 5453 | 5412 |
| AG Issuer, LLC 6.25% 3/1/2028 <sup>(d)</sup>  | 4470 | 4474 |
| AG TTMT Escrow Issuer, LLC 8.625% 9/30/2027 <sup>(d)</sup>  | 1072 | 1111 |
| AIB Group PLC 7.583% 10/14/2026 (USD-SOFR + 3.456% on 10/14/2025) <sup>(d)(k)</sup>  | 4250 | 4286 |
| Alliant Holdings Intermediate, LLC 4.25% 10/15/2027 <sup>(d)</sup>  | 1940 | 1906 |
| Alliant Holdings Intermediate, LLC 5.875% 11/1/2029 <sup>(d)</sup>  | 2295 | 2264 |
| Ally Financial, Inc. 8.00% 11/1/2031  | 2688 | 3040 |
| American Express Co. 6.338% 10/30/2026 (USD-SOFR + 1.33% on 10/30/2025) <sup>(k)</sup>  | 4810 | 4839 |
| American Express Co. 6.489% 10/30/2031 (USD-SOFR + 1.94% on 10/30/2030) <sup>(k)</sup>  | 2407 | 2623 |
| American Express Co. 5.442% 1/30/2036 (USD-SOFR + 1.32% on 1/30/2035) <sup>(k)</sup>  | 5885 | 6010 |
| American International Group, Inc. 5.125% 3/27/2033  | 2937 | 2988 |
| American International Group, Inc. 5.45% 5/7/2035  | 530 | 544 |
| AmWINS Group, Inc. 4.875% 6/30/2029 <sup>(d)</sup>  | 1348 | 1311 |
| Aon North America, Inc. 5.45% 3/1/2034  | 600 | 617 |
| Ardonagh Group Finance, Ltd. 8.875% 2/15/2032 <sup>(d)</sup>  | 2415 | 2543 |
| Aretec Group, Inc. 7.50% 4/1/2029 <sup>(d)</sup>  | 1250 | 1266 |
| Arthur J. Gallagher & Co. 5.00% 2/15/2032  | 750 | 761 |
| Arthur J. Gallagher & Co. 5.15% 2/15/2035  | 5444 | 5450 |
| Arthur J. Gallagher & Co. 5.55% 2/15/2055  | 2586 | 2482 |
| Athene Holding, Ltd. 6.625% 5/19/2055  | 770 | 794 |
| Banco Santander, SA 5.147% 8/18/2025  | 1400 | 1401 |
| Banco Santander, SA 5.565% 1/17/2030  | 6400 | 6647 |
| Bangkok Bank Public Co., Ltd. 3.733% 9/25/2034 (5-year UST Yield Curve Rate T Note Constant Maturity + <br> 1.90% on 9/25/2029) <sup>(k)</sup>  | 2176 | 2026 |
| Bank of America Corp. 2.087% 6/14/2029 (USD-SOFR + 1.06% on 6/14/2028) <sup>(k)</sup>  | 485 | 455 |
| Bank of America Corp. 5.819% 9/15/2029 (USD-SOFR + 1.57% on 9/15/2028) <sup>(k)</sup>  | 5533 | 5765 |
| Bank of America Corp. 1.922% 10/24/2031 (USD-SOFR + 1.37% on 10/24/2030) <sup>(k)</sup>  | 1000 | 872 |
| Bank of America Corp. 5.288% 4/25/2034 (USD-SOFR + 1.91% on 4/25/2033) <sup>(k)</sup>  | 4064 | 4147 |
| Bank of America Corp. 5.464% 5/9/2036 (USD-SOFR + 1.64% on 5/9/2035) <sup>(k)</sup>  | 1182 | 1212 |
| Bank of New York Mellon Corp. 4.975% 3/14/2030 (USD-SOFR + 1.085% on 3/14/2029) <sup>(k)</sup>  | 3477 | 3561 |
| Bank of New York Mellon Corp. 5.225% 11/20/2035 (USD-SOFR + 1.253% on 11/20/2034) <sup>(k)</sup>  | 326 | 332 |
| Bank of New York Mellon Corp. 5.316% 6/6/2036 (USD-SOFR + 1.35% on 6/6/2035) <sup>(k)</sup>  | 3359 | 3430 |
| BBVA Bancomer SA 7.625% 2/11/2035 (5-year UST Yield Curve Rate T Note Constant Maturity + 3.375% on <br> 2/11/2030) <sup>(d)(k)</sup>  | 2220 | 2285 |
| Berkshire Hathaway, Inc. 3.125% 3/15/2026  | 448 | 445 |
| Blackstone Private Credit Fund 6.00% 11/22/2034  | 2020 | 1976 |
| Block, Inc. 3.50% 6/1/2031  | 2325 | 2134 |
| Blue Owl Credit Income Corp. 4.70% 2/8/2027  | 1230 | 1223 |
| Blue Owl Credit Income Corp. 6.65% 3/15/2031  | 800 | 823 |
| BNP Paribas SA 2.159% 9/15/2029 (USD-SOFR + 1.218% on 9/15/2028) <sup>(d)(k)</sup>  | 2535 | 2350 |
| Boost Newco Borrower, LLC 7.50% 1/15/2031 <sup>(d)</sup>  | 1150 | 1222 |
| BPCE SA 5.876% 1/14/2031 (USD-SOFR + 1.68% on 1/14/2030) <sup>(d)(k)</sup>  | 8155 | 8462 |
| BPCE SA 5.389% 5/28/2031 (USD-SOFR + 1.581% on 5/28/2030) <sup>(d)(k)</sup>  | 3015 | 3071 |
| BPCE SA 6.293% 1/14/2036 (USD-SOFR + 2.04% on 1/14/2035) <sup>(d)(k)</sup>  | 9000 | 9456 |
| BPCE SA 6.027% 5/28/2036 (USD-SOFR + 1.956% on 5/28/2035) <sup>(d)(k)</sup>  | 4295 | 4426 |
| Brown & Brown, Inc. 4.60% 12/23/2026  | 1250 | 1256 |
| Brown & Brown, Inc. 5.25% 6/23/2032  | 358 | 365 |
| Brown & Brown, Inc. 5.55% 6/23/2035  | 7665 | 7819 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **106** |

---

------

Asset Allocation Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Financials (continued)** |  |  |
| Brown & Brown, Inc. 6.25% 6/23/2055  | USD5,952 | $6141 |
| CaixaBank, SA 6.208% 1/18/2029 (USD-SOFR + 2.70% on 1/18/2028) <sup>(d)(k)</sup>  | 938 | 975 |
| CaixaBank, SA 5.673% 3/15/2030 (USD-SOFR + 1.78% on 3/15/2029) <sup>(d)(k)</sup>  | 4764 | 4928 |
| CaixaBank, SA 4.885% 7/3/2031 (USD-SOFR + 1.36% on 7/3/2030) <sup>(d)(k)</sup>  | 5200 | 5223 |
| CaixaBank, SA 5.581% 7/3/2036 (USD-SOFR + 1.79% on 7/3/2035) <sup>(d)(k)</sup>  | 4887 | 4939 |
| Capital One Financial Corp. 6.051% 2/1/2035 (USD-SOFR + 2.26% on 2/1/2034) <sup>(k)</sup>  | 2859 | 2981 |
| Chubb INA Holdings, LLC 3.35% 5/3/2026  | 880 | 873 |
| Chubb INA Holdings, LLC 5.00% 3/15/2034  | 4623 | 4712 |
| Chubb INA Holdings, LLC 4.35% 11/3/2045  | 400 | 346 |
| Citibank, NA 4.914% 5/29/2030  | 4825 | 4919 |
| Citigroup, Inc. 5.61% 9/29/2026 (USD-SOFR + 1.546% on 12/29/2025) <sup>(k)</sup>  | 8000 | 8018 |
| Citigroup, Inc. 4.786% 3/4/2029 (USD-SOFR + 0.87% on 3/4/2028) <sup>(k)</sup>  | 7250 | 7303 |
| Citigroup, Inc. 5.174% 2/13/2030 (USD-SOFR + 1.364% on 2/13/2029) <sup>(k)</sup>  | 2242 | 2288 |
| Citigroup, Inc. 4.542% 9/19/2030 (USD-SOFR + 1.338% on 9/19/2029) <sup>(k)</sup>  | 4750 | 4729 |
| Citigroup, Inc. 2.52% 11/3/2032 (USD-SOFR + 1.177% on 11/3/2031) <sup>(k)</sup>  | 2506 | 2192 |
| Citigroup, Inc. 6.02% 1/24/2036 (USD-SOFR + 1.83% on 1/24/2035) <sup>(k)</sup>  | 1299 | 1335 |
| Citigroup, Inc. 5.333% 3/27/2036 (USD-SOFR + 1.465% on 3/27/2035) <sup>(k)</sup>  | 1650 | 1664 |
| Citizens Financial Group, Inc. 5.718% 7/23/2032 (USD-SOFR + 1.91% on 7/23/2031) <sup>(k)</sup>  | 4213 | 4360 |
| Citizens Financial Group, Inc. 6.645% 4/25/2035 (USD-SOFR + 2.325% on 4/25/2034) <sup>(k)</sup>  | 3808 | 4107 |
| CME Group, Inc. 3.75% 6/15/2028  | 3069 | 3050 |
| Coinbase Global, Inc. 3.375% 10/1/2028 <sup>(d)</sup>  | 6514 | 6112 |
| Coinbase Global, Inc. 3.625% 10/1/2031 <sup>(d)</sup>  | 5766 | 5139 |
| Cooperatieve Rabobank UA 4.375% 8/4/2025  | 4032 | 4030 |
| Corebridge Financial, Inc. 3.65% 4/5/2027  | 914 | 902 |
| Corebridge Financial, Inc. 3.85% 4/5/2029  | 556 | 545 |
| Corebridge Financial, Inc. 3.90% 4/5/2032  | 315 | 296 |
| Corebridge Financial, Inc. 4.35% 4/5/2042  | 182 | 153 |
| Corebridge Financial, Inc. 4.40% 4/5/2052  | 438 | 351 |
| Deutsche Bank AG 2.552% 1/7/2028 (USD-SOFR + 1.318% on 1/7/2027) <sup>(k)</sup>  | 6650 | 6461 |
| Deutsche Bank AG 5.706% 2/8/2028 (USD-SOFR + 1.594% on 2/8/2027) <sup>(k)</sup>  | 1109 | 1128 |
| Deutsche Bank AG 6.72% 1/18/2029 (USD-SOFR + 3.18% on 1/18/2028) <sup>(k)</sup>  | 2250 | 2364 |
| Deutsche Bank AG 6.819% 11/20/2029 (USD-SOFR + 2.51% on 11/20/2028) <sup>(k)</sup>  | 750 | 800 |
| Deutsche Bank AG 3.547% 9/18/2031 (USD-SOFR + 3.043% on 9/18/2030) <sup>(k)</sup>  | 300 | 281 |
| DNB Bank ASA 5.896% 10/9/2026 (USD-SOFR + 1.95% on 10/9/2025) <sup>(d)(k)</sup>  | 6945 | 6971 |
| First Citizens BancShares, Inc. 5.231% 3/12/2031 (USD-SOFR + 1.41% on 3/12/2030) <sup>(k)</sup>  | 4540 | 4565 |
| Goldman Sachs Group, Inc. 1.948% 10/21/2027 (USD-SOFR + 0.913% on 10/21/2026) <sup>(k)</sup>  | 2198 | 2129 |
| Goldman Sachs Group, Inc. 2.64% 2/24/2028 (USD-SOFR + 1.114% on 2/24/2027) <sup>(k)</sup>  | 4000 | 3886 |
| Goldman Sachs Group, Inc. 4.937% 4/23/2028 (USD-SOFR + 1.319% on 4/23/2027) <sup>(k)</sup>  | 1980 | 1996 |
| Goldman Sachs Group, Inc. 4.692% 10/23/2030 (USD-SOFR + 1.135% on 10/23/2029) <sup>(k)</sup>  | 8513 | 8540 |
| Goldman Sachs Group, Inc. 5.536% 1/28/2036 (USD-SOFR + 1.38% on 1/28/2035) <sup>(k)</sup>  | 1443 | 1480 |
| Goldman Sachs Group, Inc. 3.21% 4/22/2042 (USD-SOFR + 1.513% on 4/22/2041) <sup>(k)</sup>  | 2000 | 1497 |
| HSBC Holdings PLC 2.804% 5/24/2032 (USD-SOFR + 1.187% on 5/24/2031) <sup>(k)</sup>  | 937 | 833 |
| HSBC Holdings PLC 2.871% 11/22/2032 (USD-SOFR + 1.41% on 11/22/2031) <sup>(k)</sup>  | 873 | 773 |
| HSBC Holdings PLC 5.45% 3/3/2036 (USD-SOFR + 1.56% on 3/3/2035) <sup>(k)</sup>  | 15084 | 15173 |
| HSBC Holdings PLC 5.79% 5/13/2036 (USD-SOFR + 1.88% on 5/13/2035) <sup>(k)</sup>  | 809 | 832 |
| HSBC Holdings PLC 6.332% 3/9/2044 (USD-SOFR + 2.65% on 3/9/2043) <sup>(k)</sup>  | 537 | 577 |
| HUB International, Ltd. 7.375% 1/31/2032 <sup>(d)</sup>  | 690 | 722 |
| Intercontinental Exchange, Inc. 5.25% 6/15/2031  | 2020 | 2095 |
| Intesa Sanpaolo SpA 8.248% 11/21/2033 (1-year UST Yield Curve Rate T Note Constant Maturity + 4.40% <br> on 11/21/2032) <sup>(d)(k)</sup>  | 4122 | 4787 |
| Intesa Sanpaolo SpA 7.778% 6/20/2054 (1-year UST Yield Curve Rate T Note Constant Maturity + 3.90% on <br> 6/20/2053) <sup>(d)(k)</sup>  | 3245 | 3644 |
| Jane Street Group, LLC 6.75% 5/1/2033 <sup>(d)</sup>  | 3015 | 3102 |
| Jefferson Capital Holdings, LLC 8.25% 5/15/2030 <sup>(d)</sup>  | 3010 | 3121 |
| JPMorgan Chase & Co. 1.04% 2/4/2027 (USD-SOFR + 0.695% on 2/4/2026) <sup>(k)</sup>  | 2666 | 2611 |
| JPMorgan Chase & Co. 5.04% 1/23/2028 (USD-SOFR + 1.19% on 1/23/2027) <sup>(k)</sup>  | 1066 | 1076 |
| JPMorgan Chase & Co. 4.323% 4/26/2028 (USD-SOFR + 1.56% on 4/26/2027) <sup>(k)</sup>  | 1550 | 1549 |
| JPMorgan Chase & Co. 4.851% 7/25/2028 (USD-SOFR + 1.99% on 7/25/2027) <sup>(k)</sup>  | 3351 | 3387 |
| JPMorgan Chase & Co. 4.505% 10/22/2028 (USD-SOFR + 0.86% on 10/22/2027) <sup>(k)</sup>  | 3630 | 3642 |
| JPMorgan Chase & Co. 6.087% 10/23/2029 (USD-SOFR + 1.57% on 10/23/2028) <sup>(k)</sup>  | 4250 | 4468 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **107** | American Funds Insurance Series |

---

------

Asset Allocation Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Financials (continued)** |  |  |
| JPMorgan Chase & Co. 5.581% 4/22/2030 (USD-SOFR + 1.16% on 4/22/2029) <sup>(k)</sup>  | USD1,262 | $1311 |
| JPMorgan Chase & Co. 4.603% 10/22/2030 (USD-SOFR + 1.04% on 10/22/2029) <sup>(k)</sup>  | 4718 | 4735 |
| JPMorgan Chase & Co. 5.294% 7/22/2035 (USD-SOFR + 1.46% on 7/22/2034) <sup>(k)</sup>  | 1081 | 1100 |
| JPMorgan Chase & Co. 5.502% 1/24/2036 (USD-SOFR + 1.315% on 1/24/2035) <sup>(k)</sup>  | 2952 | 3042 |
| Kasikornbank PCL (Hong Kong Branch) 3.343% 10/2/2031 (5-year UST Yield Curve Rate T Note Constant <br> Maturity + 1.70% on 10/2/2026) <sup>(k)</sup>  | 1222 | 1190 |
| Marsh & McLennan Cos., Inc. 4.375% 3/15/2029  | 1705 | 1712 |
| Marsh & McLennan Cos., Inc. 4.85% 11/15/2031  | 7000 | 7112 |
| Marsh & McLennan Cos., Inc. 5.00% 3/15/2035  | 2250 | 2251 |
| Marsh & McLennan Cos., Inc. 4.90% 3/15/2049  | 719 | 650 |
| Marsh & McLennan Cos., Inc. 2.90% 12/15/2051  | 920 | 579 |
| Marsh & McLennan Cos., Inc. 5.40% 3/15/2055  | 2000 | 1929 |
| Mastercard, Inc. 4.35% 1/15/2032  | 4801 | 4782 |
| Mastercard, Inc. 4.85% 3/9/2033  | 2258 | 2302 |
| Metropolitan Life Global Funding I 5.15% 3/28/2033 <sup>(d)</sup>  | 1600 | 1625 |
| Morgan Stanley 4.679% 7/17/2026 (USD-SOFR + 1.669% on 7/17/2025) <sup>(k)</sup>  | 2450 | 2450 |
| Morgan Stanley 3.125% 7/27/2026  | 325 | 321 |
| Morgan Stanley 4.994% 4/12/2029 (USD-SOFR + 1.38% on 4/12/2028) <sup>(k)</sup>  | 463 | 470 |
| Morgan Stanley 5.164% 4/20/2029 (USD-SOFR + 1.59% on 4/20/2028) <sup>(k)</sup>  | 3995 | 4074 |
| Morgan Stanley 5.449% 7/20/2029 (USD-SOFR + 1.63% on 7/20/2028) <sup>(k)</sup>  | 3097 | 3186 |
| Morgan Stanley 5.042% 7/19/2030 (USD-SOFR + 1.215% on 7/19/2029) <sup>(k)</sup>  | 3584 | 3646 |
| Morgan Stanley 5.23% 1/15/2031 (USD-SOFR + 1.108% on 1/15/2030) <sup>(k)</sup>  | 1506 | 1542 |
| Morgan Stanley 2.699% 1/22/2031 (USD-SOFR + 1.143% on 1/22/2030) <sup>(k)</sup>  | 1031 | 951 |
| Morgan Stanley 5.516% 11/19/2055 (USD-SOFR + 1.71% on 11/19/2054) <sup>(k)</sup>  | 3500 | 3423 |
| MPT Finance Corp. 7.00% 2/15/2032  | EUR2,075 | 2508 |
| Nationstar Mortgage Holdings, Inc. 7.125% 2/1/2032 <sup>(d)</sup>  | USD1,230 | 1278 |
| Navient Corp. 6.75% 6/15/2026  | 150 | 152 |
| Navient Corp. 5.50% 3/15/2029  | 11105 | 10884 |
| Navient Corp. 11.50% 3/15/2031  | 4860 | 5510 |
| Navient Corp. 7.875% 6/15/2032  | 1095 | 1140 |
| New York Life Global Funding 2.35% 7/14/2026 <sup>(d)</sup>  | 529 | 518 |
| New York Life Global Funding 4.55% 1/28/2033 <sup>(d)</sup>  | 1132 | 1108 |
| Northwestern Mutual Global Funding 1.75% 1/11/2027 <sup>(d)</sup>  | 2240 | 2162 |
| Osaic Holdings, Inc. 10.75% 8/1/2027 <sup>(d)</sup>  | 2420 | 2427 |
| PayPal Holdings, Inc. 2.65% 10/1/2026  | 593 | 582 |
| PayPal Holdings, Inc. 2.30% 6/1/2030  | 552 | 502 |
| PennyMac Financial Services, Inc. 6.875% 2/15/2033 <sup>(d)</sup>  | 1375 | 1411 |
| Planet Financial Group, LLC 10.50% 12/15/2029 <sup>(d)</sup>  | 540 | 541 |
| PNC Bank, National Association, 4.543% 5/13/2027 (USD-SOFR + 0.63% on 5/13/2026) <sup>(k)</sup>  | 1720 | 1721 |
| PNC Financial Services Group, Inc. 5.575% 1/29/2036 (USD-SOFR + 1.394% on 1/29/2035) <sup>(k)</sup>  | 4180 | 4310 |
| Power Finance Corp., Ltd. 5.25% 8/10/2028  | 383 | 388 |
| Power Finance Corp., Ltd. 6.15% 12/6/2028  | 350 | 364 |
| Power Finance Corp., Ltd. 4.50% 6/18/2029  | 554 | 546 |
| Power Finance Corp., Ltd. 3.95% 4/23/2030  | 1213 | 1163 |
| Prudential Financial, Inc. 4.35% 2/25/2050  | 1976 | 1642 |
| Prudential Financial, Inc. 3.70% 3/13/2051  | 677 | 498 |
| Rocket Mortgage, LLC 2.875% 10/15/2026 <sup>(d)</sup>  | 2110 | 2059 |
| Rocket Mortgage, LLC 3.625% 3/1/2029 <sup>(d)</sup>  | 1505 | 1431 |
| SLM Corp. 6.50% 1/31/2030  | 1460 | 1534 |
| Starwood Property Trust, Inc. 4.375% 1/15/2027 <sup>(d)</sup>  | 3580 | 3549 |
| Starwood Property Trust, Inc. 7.25% 4/1/2029 <sup>(d)</sup>  | 970 | 1021 |
| Starwood Property Trust, Inc. 6.50% 7/1/2030 <sup>(d)</sup>  | 525 | 543 |
| Swiss Re Finance (Luxembourg) SA 5.00% 4/2/2049 <br>(5-year UST Yield Curve Rate T Note Constant Maturity + 3.582% on 4/2/2029) <sup>(d)(k)</sup>  | 1000 | 999 |
| Travelers Cos., Inc. 4.00% 5/30/2047  | 771 | 618 |
| Truist Bank 4.671% 5/20/2027 (USD-SOFR + 0.59% on 5/20/2026) <sup>(k)</sup>  | 2000 | 2003 |
| Truist Financial Corp. 7.161% 10/30/2029 (USD-SOFR + 2.446% on 10/30/2028) <sup>(k)</sup>  | 1677 | 1814 |
| Truist Financial Corp. 5.071% 5/20/2031 (USD-SOFR + 1.309% on 5/20/2030) <sup>(k)</sup>  | 506 | 514 |
| Truist Insurance Holdings, LLC, Term Loan, (3-month USD CME Term SOFR + 4.75%) 9.046% 5/6/2032 <sup>(h)(l)</sup>  | 2190 | 2221 |
| U.S. Bancorp 2.375% 7/22/2026  | 3584 | 3520 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **108** |

---

------

Asset Allocation Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Financials (continued)** |  |  |
| U.S. Bancorp 5.424% 2/12/2036 (USD-SOFR + 1.411% on 2/12/2035) <sup>(k)</sup>  | USD3,808 | $3882 |
| UBS Group AG 4.125% 9/24/2025 <sup>(d)</sup>  | 2750 | 2746 |
| UBS Group AG 3.869% 1/12/2029 (3-month USD-LIBOR + 1.41% on 1/12/2028) <sup>(d)(k)(m)</sup>  | 800 | 788 |
| UBS Group AG 5.428% 2/8/2030 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.52% on <br>2/8/2029) <sup>(d)(k)</sup>  | 3575 | 3672 |
| UniCredit SpA 4.625% 4/12/2027 <sup>(d)</sup>  | 625 | 625 |
| Voyager Parent, LLC 9.25% 7/1/2032 <sup>(d)</sup>  | 5950 | 6194 |
| Wells Fargo & Co. 5.707% 4/22/2028 (USD-SOFR + 1.07% on 4/22/2027) <sup>(k)</sup>  | 7025 | 7180 |
| Wells Fargo & Co. 2.393% 6/2/2028 (USD-SOFR + 2.10% on 6/2/2027) <sup>(k)</sup>  | 400 | 385 |
| Wells Fargo & Co. 4.97% 4/23/2029 (USD-SOFR + 1.37% on 4/23/2028) <sup>(k)</sup>  | 2070 | 2099 |
| Wells Fargo & Co. 6.303% 10/23/2029 (USD-SOFR + 1.79% on 10/23/2028) <sup>(k)</sup>  | 7225 | 7637 |
| Wells Fargo & Co. 6.491% 10/23/2034 (USD-SOFR + 2.06% on 10/23/2033) <sup>(k)</sup>  | 3360 | 3674 |
| Wells Fargo & Co. 5.605% 4/23/2036 (USD-SOFR + 1.74% on 4/23/2035) <sup>(k)</sup>  | 390 | 403 |
| Westpac Banking Corp. 2.668% 11/15/2035 (5-year UST Yield Curve Rate T Note Constant Maturity + <br> 1.75% on 11/15/2030) <sup>(k)</sup>  | 2980 | 2630 |
| Westpac Banking Corp. 2.963% 11/16/2040  | 1344 | 996 |
| WEX, Inc. 6.50% 3/15/2033 <sup>(d)</sup>  | 1025 | 1035 |
|  |  | 485259 |
| **Communication services 0.86%** |  |  |
| Alphabet, Inc. 5.25% 5/15/2055  | 821 | 809 |
| Alphabet, Inc. 5.30% 5/15/2065  | 1876 | 1838 |
| AT&T, Inc. 2.25% 2/1/2032  | 800 | 689 |
| AT&T, Inc. 3.50% 9/15/2053  | 5140 | 3482 |
| CCO Holdings, LLC 4.75% 3/1/2030 <sup>(d)</sup>  | 1350 | 1309 |
| CCO Holdings, LLC 4.50% 8/15/2030 <sup>(d)</sup>  | 5750 | 5486 |
| CCO Holdings, LLC 4.25% 2/1/2031 <sup>(d)</sup>  | 9361 | 8751 |
| CCO Holdings, LLC 4.75% 2/1/2032 <sup>(d)</sup>  | 3115 | 2957 |
| CCO Holdings, LLC 4.50% 5/1/2032  | 7189 | 6699 |
| CCO Holdings, LLC 4.50% 6/1/2033 <sup>(d)</sup>  | 2085 | 1907 |
| CCO Holdings, LLC 4.25% 1/15/2034 <sup>(d)</sup>  | 1135 | 1011 |
| Charter Communications Operating, LLC 4.908% 7/23/2025  | 116 | 116 |
| Charter Communications Operating, LLC 4.40% 4/1/2033  | 1000 | 942 |
| Charter Communications Operating, LLC 4.80% 3/1/2050  | 4823 | 3862 |
| Charter Communications Operating, LLC 3.70% 4/1/2051  | 5493 | 3662 |
| Charter Communications Operating, LLC 3.90% 6/1/2052  | 8760 | 6017 |
| Charter Communications Operating, LLC 5.25% 4/1/2053  | 4965 | 4221 |
| Comcast Corp. 2.35% 1/15/2027  | 3584 | 3488 |
| Comcast Corp. 4.80% 5/15/2033  | 2165 | 2161 |
| Comcast Corp. 5.65% 6/1/2054  | 2281 | 2218 |
| Connect Finco SARL 9.00% 9/15/2029 <sup>(d)</sup>  | 6425 | 6466 |
| CSC Holdings, LLC 5.50% 4/15/2027 <sup>(d)</sup>  | 1400 | 1338 |
| CSC Holdings, LLC, Term Loan B, (USD Prime Rate + 1.50%) 9.00% 4/15/2027 <sup>(h)(l)</sup>  | 972 | 949 |
| CSC Holdings, LLC, Term Loan B, (3-month USD CME Term SOFR + 4.50%) 8.812% 1/18/2028 <sup>(h)(l)</sup>  | 2666 | 2632 |
| DIRECTV Financing, LLC 5.875% 8/15/2027 <sup>(d)</sup>  | 4713 | 4701 |
| DISH Network Corp. 11.75% 11/15/2027 <sup>(d)</sup>  | 10154 | 10475 |
| EchoStar Corp. 10.75% 11/30/2029  | 4409 | 4545 |
| EchoStar Corp. 6.75% PIK 11/30/2030 <sup>(n)</sup>  | 1964 | 1793 |
| Embarq, LLC 7.995% 6/1/2036  | 8084 | 3712 |
| Frontier Communications Holdings, LLC 6.75% 5/1/2029 <sup>(d)</sup>  | 6550 | 6640 |
| Frontier Communications Holdings, LLC 5.875% 11/1/2029  | 5591 | 5651 |
| Frontier Communications Holdings, LLC 6.00% 1/15/2030 <sup>(d)</sup>  | 3196 | 3240 |
| Frontier Communications Holdings, LLC 8.75% 5/15/2030 <sup>(d)</sup>  | 1100 | 1151 |
| Gray Media, Inc. 10.50% 7/15/2029 <sup>(d)</sup>  | 7305 | 7853 |
| Gray Media, Inc. 4.75% 10/15/2030 <sup>(d)</sup>  | 1656 | 1254 |
| Gray Media, Inc. 5.375% 11/15/2031 <sup>(d)</sup>  | 4790 | 3596 |
| Gray Television, Inc., Term Loan B, (3-month USD CME Term SOFR + 5.25%) 9.574% 6/4/2029 <sup>(h)(l)</sup>  | 1086 | 1086 |
| Intelsat Jackson Holdings SA 6.50% 3/15/2030 <sup>(d)</sup>  | 8871 | 9068 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **109** | American Funds Insurance Series |

---

------

Asset Allocation Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Communication services (continued)** |  |  |
| Ligado Networks, LLC 17.50% PIK 11/1/2023 <sup>(d)(n)(o)</sup>  | USD7,331 | $2529 |
| Ligado Networks, LLC, Term Loan, 17.50% PIK 10/4/2025 <sup>(b)(l)(n)</sup>  | 1540 | 1540 |
| Meta Platforms, Inc. 4.75% 8/15/2034  | 3584 | 3602 |
| Meta Platforms, Inc. 5.40% 8/15/2054  | 3584 | 3498 |
| Nexstar Media, Inc. 5.625% 7/15/2027 <sup>(d)</sup>  | 1875 | 1872 |
| Nexstar Media, Inc. 4.75% 11/1/2028 <sup>(d)</sup>  | 2950 | 2875 |
| SBA Tower Trust 1.631% 11/15/2026 <sup>(d)</sup>  | 7802 | 7488 |
| Sinclair Television Group, Inc. 8.125% 2/15/2033 <sup>(d)</sup>  | 1375 | 1390 |
| Sirius XM Radio, LLC 4.00% 7/15/2028 <sup>(d)</sup>  | 6650 | 6392 |
| Sirius XM Radio, LLC 4.125% 7/1/2030 <sup>(d)</sup>  | 7282 | 6719 |
| Sirius XM Radio, LLC 3.875% 9/1/2031 <sup>(d)</sup>  | 7547 | 6713 |
| Take-Two Interactive Software, Inc. 4.00% 4/14/2032  | 2185 | 2071 |
| T-Mobile USA, Inc. 1.50% 2/15/2026  | 500 | 490 |
| T-Mobile USA, Inc. 2.05% 2/15/2028  | 325 | 307 |
| T-Mobile USA, Inc. 4.95% 3/15/2028  | 1918 | 1951 |
| T-Mobile USA, Inc. 4.80% 7/15/2028  | 4000 | 4054 |
| T-Mobile USA, Inc. 5.125% 5/15/2032  | 3623 | 3696 |
| T-Mobile USA, Inc. 5.30% 5/15/2035  | 4665 | 4725 |
| Univision Communications, Inc. 6.625% 6/1/2027 <sup>(d)</sup>  | 6300 | 6289 |
| Univision Communications, Inc. 8.00% 8/15/2028 <sup>(d)</sup>  | 300 | 305 |
| Univision Communications, Inc. 4.50% 5/1/2029 <sup>(d)</sup>  | 6234 | 5674 |
| Univision Communications, Inc. 7.375% 6/30/2030 <sup>(d)</sup>  | 1216 | 1196 |
| Verizon Communications, Inc. 2.55% 3/21/2031  | 410 | 368 |
| Verizon Communications, Inc. 2.355% 3/15/2032  | 2944 | 2539 |
| Verizon Communications, Inc. 5.05% 5/9/2033  | 1946 | 1974 |
| Verizon Communications, Inc. 5.25% 4/2/2035  | 6205 | 6259 |
| Verizon Communications, Inc. 2.875% 11/20/2050  | 601 | 375 |
| Verizon Communications, Inc. 2.987% 10/30/2056  | 1537 | 926 |
| Vodafone Group PLC 4.25% 9/17/2050  | 3898 | 3041 |
| WarnerMedia Holdings, Inc. 3.755% 3/15/2027  | 1018 | 950 |
| WarnerMedia Holdings, Inc. 5.141% 3/15/2052  | 4748 | 3335 |
| X Corp., Term Loan B3, 9.50% 10/26/2029 <sup>(l)</sup>  | 2675 | 2604 |
| X Corp., Term Loan B, (USD-SOFR + 6.50%) 10.927% 10/26/2029 <sup>(h)(l)</sup>  | 2776 | 2716 |
|  |  | 238238 |
| **Health care 0.78%** |  |  |
| 1261229 B.C., Ltd. 10.00% 4/15/2032 <sup>(d)</sup>  | 1840 | 1857 |
| AbbVie, Inc. 5.20% 3/15/2035  | 3056 | 3123 |
| AbbVie, Inc. 5.40% 3/15/2054  | 7250 | 7055 |
| AbbVie, Inc. 5.60% 3/15/2055  | 2261 | 2264 |
| AdaptHealth, LLC 6.125% 8/1/2028 <sup>(d)</sup>  | 645 | 647 |
| AdaptHealth, LLC 4.625% 8/1/2029 <sup>(d)</sup>  | 1990 | 1877 |
| AdaptHealth, LLC 5.125% 3/1/2030 <sup>(d)</sup>  | 1010 | 961 |
| Amgen, Inc. 5.25% 3/2/2030  | 1244 | 1282 |
| Amgen, Inc. 5.25% 3/2/2033  | 2990 | 3063 |
| Amgen, Inc. 5.60% 3/2/2043  | 1500 | 1489 |
| Amgen, Inc. 5.65% 3/2/2053  | 2750 | 2687 |
| Amgen, Inc. 4.40% 2/22/2062  | 1697 | 1326 |
| Amgen, Inc. 5.75% 3/2/2063  | 858 | 835 |
| AstraZeneca Finance, LLC 1.75% 5/28/2028  | 1677 | 1573 |
| AstraZeneca Finance, LLC 4.90% 2/26/2031  | 1658 | 1704 |
| AstraZeneca Finance, LLC 2.25% 5/28/2031  | 665 | 595 |
| AstraZeneca Finance, LLC 5.00% 2/26/2034  | 3181 | 3244 |
| AstraZeneca PLC 3.375% 11/16/2025  | 1022 | 1018 |
| Bausch Health Cos., Inc. 4.875% 6/1/2028 <sup>(d)</sup>  | 1025 | 865 |
| Bausch Health Cos., Inc. 11.00% 9/30/2028 <sup>(d)</sup>  | 1525 | 1511 |
| Baxter International, Inc. 1.915% 2/1/2027  | 4739 | 4564 |
| Baxter International, Inc. 2.272% 12/1/2028  | 3180 | 2961 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **110** |

---

------

Asset Allocation Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Health care (continued)** |  |  |
| Bayer US Finance, LLC 6.125% 11/21/2026 <sup>(d)</sup>  | USD5,419 | $5509 |
| Bayer US Finance, LLC 6.25% 1/21/2029 <sup>(d)</sup>  | 3092 | 3248 |
| Bristol-Myers Squibb Co. 5.10% 2/22/2031  | 1800 | 1865 |
| Bristol-Myers Squibb Co. 5.20% 2/22/2034  | 825 | 845 |
| Bristol-Myers Squibb Co. 5.65% 2/22/2064  | 2550 | 2478 |
| CHS / Community Health Systems, Inc. 6.00% 1/15/2029 <sup>(d)</sup>  | 1750 | 1685 |
| CHS / Community Health Systems, Inc. 10.875% 1/15/2032 <sup>(d)</sup>  | 285 | 302 |
| CVS Health Corp. 5.00% 1/30/2029  | 3831 | 3890 |
| CVS Health Corp. 5.40% 6/1/2029  | 4144 | 4266 |
| CVS Health Corp. 5.55% 6/1/2031  | 3039 | 3158 |
| CVS Health Corp. 5.70% 6/1/2034  | 4053 | 4175 |
| DaVita, Inc. 3.75% 2/15/2031 <sup>(d)</sup>  | 2865 | 2608 |
| DaVita, Inc. 6.875% 9/1/2032 <sup>(d)</sup>  | 810 | 840 |
| DaVita, Inc. 6.75% 7/15/2033 <sup>(d)</sup>  | 1600 | 1653 |
| Elevance Health, Inc. 4.90% 2/8/2026  | 1417 | 1417 |
| Elevance Health, Inc. 5.20% 2/15/2035  | 610 | 617 |
| Elevance Health, Inc. 5.125% 2/15/2053  | 308 | 275 |
| Eli Lilly and Co. 5.10% 2/12/2035  | 8075 | 8280 |
| Endo Finance Holdings, Inc. 8.50% 4/15/2031 <sup>(d)</sup>  | 2200 | 2332 |
| Endo Finance Holdings, Inc., Term Loan B, (3-month USD CME Term SOFR + 4.00%) 8.327% 4/23/2031 <sup>(h)(l)</sup>  | 2556 | 2557 |
| GE HealthCare Technologies, Inc. 4.80% 8/14/2029  | 1522 | 1545 |
| Gilead Sciences, Inc. 5.25% 10/15/2033  | 2642 | 2734 |
| Gilead Sciences, Inc. 5.10% 6/15/2035  | 500 | 507 |
| Grifols SA 3.875% 10/15/2028  | EUR800 | 904 |
| Grifols SA 7.50% 5/1/2030  | 400 | 494 |
| HCA, Inc. 3.375% 3/15/2029  | USD720 | 692 |
| HCA, Inc. 3.625% 3/15/2032  | 896 | 827 |
| HCA, Inc. 4.375% 3/15/2042  | 1344 | 1125 |
| HCA, Inc. 4.625% 3/15/2052  | 1299 | 1045 |
| Humana, Inc. 5.375% 4/15/2031  | 3194 | 3268 |
| Humana, Inc. 5.55% 5/1/2035  | 6289 | 6327 |
| Humana, Inc. 5.75% 4/15/2054  | 1359 | 1267 |
| Humana, Inc. 6.00% 5/1/2055  | 230 | 222 |
| Insulet Corp. 6.50% 4/1/2033 <sup>(d)</sup>  | 885 | 923 |
| Medline Borrower, LP 6.25% 4/1/2029 <sup>(d)</sup>  | 2050 | 2109 |
| Medtronic Global Holdings S.C.A. 4.25% 3/30/2028  | 1983 | 1994 |
| Molina Healthcare, Inc. 4.375% 6/15/2028 <sup>(d)</sup>  | 545 | 533 |
| Molina Healthcare, Inc. 3.875% 11/15/2030 <sup>(d)</sup>  | 2899 | 2698 |
| Molina Healthcare, Inc. 3.875% 5/15/2032 <sup>(d)</sup>  | 5110 | 4655 |
| Molina Healthcare, Inc. 6.25% 1/15/2033 <sup>(d)</sup>  | 1900 | 1935 |
| Novant Health, Inc. 3.168% 11/1/2051  | 3360 | 2212 |
| Novartis Capital Corp. 2.00% 2/14/2027  | 570 | 554 |
| Owens & Minor, Inc. 4.50% 3/31/2029 <sup>(d)</sup>  | 5360 | 4809 |
| Owens & Minor, Inc. 6.625% 4/1/2030 <sup>(d)</sup>  | 2300 | 2163 |
| Pfizer Investment Enterprises Pte., Ltd. 5.30% 5/19/2053  | 1000 | 945 |
| Radiology Partners, Inc. 8.50% 7/15/2032 <sup>(d)</sup>  | 2445 | 2454 |
| Radiology Partners, Inc., Term Loan B, (3-month USD CME Term SOFR + 3.50%) 1.50% PIK and 6.591% <br> Cash 1/31/2029 <sup>(h)(l)(n)</sup>  | 3369 | 3362 |
| Roche Holdings, Inc. 4.203% 9/9/2029 <sup>(d)</sup>  | 3450 | 3458 |
| Roche Holdings, Inc. 4.592% 9/9/2034 <sup>(d)</sup>  | 2244 | 2222 |
| Summa Health 3.511% 11/15/2051  | 1483 | 1223 |
| Takeda U.S. Financing, Inc. 5.20% 7/7/2035  | 8987 | 8992 |
| Takeda U.S. Financing, Inc. 5.90% 7/7/2055  | 1983 | 1994 |
| Tenet Healthcare Corp. 4.625% 6/15/2028  | 645 | 637 |
| Tenet Healthcare Corp. 4.25% 6/1/2029  | 1975 | 1917 |
| Teva Pharmaceutical Finance Netherlands III BV 3.15% 10/1/2026  | 5360 | 5259 |
| Teva Pharmaceutical Finance Netherlands III BV 5.125% 5/9/2029  | 11995 | 12073 |
| Teva Pharmaceutical Finance Netherlands III BV 8.125% 9/15/2031  | 2000 | 2267 |
| UnitedHealth Group, Inc. 4.95% 1/15/2032  | 5863 | 5940 |
| UnitedHealth Group, Inc. 5.15% 7/15/2034  | 3650 | 3689 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **111** | American Funds Insurance Series |

---

------

Asset Allocation Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Health care (continued)** |  |  |
| UnitedHealth Group, Inc. 5.30% 6/15/2035  | USD4,818 | $4912 |
| UnitedHealth Group, Inc. 5.625% 7/15/2054  | 2900 | 2815 |
| UnitedHealth Group, Inc. 5.95% 6/15/2055  | 3754 | 3815 |
| Viatris, Inc. 4.00% 6/22/2050  | 3161 | 2107 |
|  |  | 214124 |
| **Energy 0.70%** |  |  |
| Antero Midstream Partners, LP 5.375% 6/15/2029 <sup>(d)</sup>  | 2390 | 2374 |
| Antero Midstream Partners, LP 6.625% 2/1/2032 <sup>(d)</sup>  | 175 | 181 |
| Ascent Resources Utica Holdings, LLC 5.875% 6/30/2029 <sup>(d)</sup>  | 1270 | 1273 |
| Ascent Resources Utica Holdings, LLC 6.625% 10/15/2032 <sup>(d)</sup>  | 510 | 519 |
| Ascent Resources Utica Holdings, LLC 6.625% 7/15/2033 <sup>(d)</sup>  | 430 | 437 |
| Borr IHC, Ltd. 10.00% 11/15/2028 <sup>(d)</sup>  | 3087 | 2822 |
| Borr IHC, Ltd. 10.375% 11/15/2030 <sup>(d)</sup>  | 1298 | 1149 |
| Canadian Natural Resources, Ltd. 2.05% 7/15/2025  | 861 | 860 |
| Canadian Natural Resources, Ltd. 4.95% 6/1/2047  | 1397 | 1196 |
| Chevron USA, Inc. 4.687% 4/15/2030  | 8472 | 8644 |
| Chord Energy Corp. 6.75% 3/15/2033 <sup>(d)</sup>  | 1325 | 1354 |
| CITGO Petroleum Corp. 8.375% 1/15/2029 <sup>(d)</sup>  | 2075 | 2164 |
| Civitas Resources, Inc. 5.00% 10/15/2026 <sup>(d)</sup>  | 480 | 474 |
| Civitas Resources, Inc. 8.375% 7/1/2028 <sup>(d)</sup>  | 2780 | 2850 |
| Civitas Resources, Inc. 8.625% 11/1/2030 <sup>(d)</sup>  | 525 | 533 |
| Civitas Resources, Inc. 8.75% 7/1/2031 <sup>(d)</sup>  | 735 | 744 |
| CNX Midstream Partners, LP 4.75% 4/15/2030 <sup>(d)</sup>  | 1055 | 999 |
| CNX Resources Corp. 6.00% 1/15/2029 <sup>(d)</sup>  | 2675 | 2687 |
| CNX Resources Corp. 7.375% 1/15/2031 <sup>(d)</sup>  | 553 | 577 |
| CNX Resources Corp. 7.25% 3/1/2032 <sup>(d)</sup>  | 1180 | 1223 |
| ConocoPhillips Co. 5.50% 1/15/2055  | 3823 | 3631 |
| Constellation Oil Services Holding SA 9.375% 11/7/2029 <sup>(d)</sup>  | 2320 | 2363 |
| Crescent Energy Finance, LLC 7.625% 4/1/2032 <sup>(d)</sup>  | 1510 | 1476 |
| Crescent Energy Finance, LLC 7.375% 1/15/2033 <sup>(d)</sup>  | 1210 | 1158 |
| Devon Energy Corp. 5.20% 9/15/2034  | 2157 | 2096 |
| Devon Energy Corp. 5.75% 9/15/2054  | 7806 | 7034 |
| Diamondback Energy, Inc. 5.55% 4/1/2035  | 3000 | 3034 |
| Diamondback Energy, Inc. 5.75% 4/18/2054  | 5000 | 4646 |
| Enbridge, Inc. 3.70% 7/15/2027  | 56 | 55 |
| Encino Acquisition Partners Holdings, LLC 8.75% 5/1/2031 <sup>(d)</sup>  | 395 | 437 |
| Energy Transfer, LP 4.75% 1/15/2026  | 2235 | 2235 |
| Eni SpA 5.75% 5/19/2035 <sup>(d)</sup>  | 360 | 368 |
| Eni SpA 5.95% 5/15/2054 <sup>(d)</sup>  | 831 | 805 |
| Enterprise Products Operating, LLC 5.05% 1/10/2026  | 3153 | 3160 |
| Enterprise Products Operating, LLC 4.90% 5/15/2046  | 448 | 403 |
| EOG Resources, Inc. 4.40% 7/15/2028  | 410 | 412 |
| EOG Resources, Inc. 5.65% 12/1/2054  | 3079 | 3009 |
| EQT Corp. 7.50% 6/1/2030 <sup>(d)</sup>  | 642 | 706 |
| EQT Corp. 4.75% 1/15/2031 <sup>(d)</sup>  | 1635 | 1610 |
| Equinor ASA 4.25% 11/23/2041  | 1792 | 1589 |
| Expand Energy Corp. 5.875% 2/1/2029 <sup>(d)</sup>  | 790 | 794 |
| Expand Energy Corp. 5.375% 3/15/2030  | 1645 | 1651 |
| Expand Energy Corp. 4.75% 2/1/2032  | 810 | 788 |
| Expand Energy Corp. 4.875% 4/15/2032 <sup>(o)</sup>  | 7225 | 29 |
| Exxon Mobil Corp. 2.44% 8/16/2029  | 213 | 201 |
| Exxon Mobil Corp. 3.452% 4/15/2051  | 555 | 394 |
| Genesis Energy, LP 7.75% 2/1/2028  | 350 | 355 |
| Genesis Energy, LP 8.25% 1/15/2029  | 670 | 701 |
| Genesis Energy, LP 8.875% 4/15/2030  | 884 | 939 |
| Genesis Energy, LP 7.875% 5/15/2032  | 1120 | 1165 |
| GreenSaif Pipelines Bidco SARL 5.853% 2/23/2036 <sup>(d)</sup>  | 1135 | 1149 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **112** |

---

------

Asset Allocation Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Energy (continued)** |  |  |
| GreenSaif Pipelines Bidco SARL 6.129% 2/23/2038  | USD3,477 | $3588 |
| GreenSaif Pipelines Bidco SARL 6.51% 2/23/2042  | 2003 | 2077 |
| GreenSaif Pipelines Bidco SARL 6.103% 8/23/2042 <sup>(d)</sup>  | 4257 | 4263 |
| Halliburton Co. 3.80% 11/15/2025  | 6 | 6 |
| Harvest Midstream I, LP 7.50% 9/1/2028 <sup>(d)</sup>  | 420 | 427 |
| Harvest Midstream I, LP 7.50% 5/15/2032 <sup>(d)</sup>  | 190 | 201 |
| Hess Midstream Operations, LP 5.875% 3/1/2028 <sup>(d)</sup>  | 750 | 762 |
| Hess Midstream Operations, LP 5.125% 6/15/2028 <sup>(d)</sup>  | 1655 | 1645 |
| Hess Midstream Operations, LP 4.25% 2/15/2030 <sup>(d)</sup>  | 960 | 924 |
| Hess Midstream Operations, LP 5.50% 10/15/2030 <sup>(d)</sup>  | 400 | 402 |
| Hilcorp Energy I, LP 6.00% 4/15/2030 <sup>(d)</sup>  | 465 | 452 |
| Hilcorp Energy I, LP 6.00% 2/1/2031 <sup>(d)</sup>  | 540 | 523 |
| Hilcorp Energy I, LP 8.375% 11/1/2033 <sup>(d)</sup>  | 475 | 493 |
| Matador Resources Co. 6.50% 4/15/2032 <sup>(d)</sup>  | 1325 | 1327 |
| MPLX, LP 4.125% 3/1/2027  | 448 | 446 |
| Nabors Industries, Inc. 9.125% 1/31/2030 <sup>(d)</sup>  | 1745 | 1672 |
| New Fortress Energy, Inc. 6.50% 9/30/2026 <sup>(d)</sup>  | 1375 | 764 |
| NFE Financing, LLC 12.00% 11/15/2029 <sup>(d)</sup>  | 20423 | 9289 |
| Northern Oil and Gas, Inc. 8.75% 6/15/2031 <sup>(d)</sup>  | 300 | 310 |
| Occidental Petroleum Corp. 6.60% 3/15/2046  | 2268 | 2237 |
| Occidental Petroleum Corp. 6.05% 10/1/2054  | 6482 | 5946 |
| Parkland Corp. 5.875% 7/15/2027 <sup>(d)</sup>  | 1550 | 1552 |
| Parkland Corp. 4.625% 5/1/2030 <sup>(d)</sup>  | 510 | 489 |
| Permian Resources Operating, LLC 9.875% 7/15/2031 <sup>(d)</sup>  | 586 | 642 |
| Permian Resources Operating, LLC 7.00% 1/15/2032 <sup>(d)</sup>  | 1020 | 1058 |
| Permian Resources Operating, LLC 6.25% 2/1/2033 <sup>(d)</sup>  | 800 | 808 |
| Petroleos Mexicanos 6.875% 10/16/2025  | 2517 | 2516 |
| Petroleos Mexicanos 4.50% 1/23/2026  | 400 | 395 |
| Petroleos Mexicanos 6.875% 8/4/2026  | 850 | 851 |
| Petroleos Mexicanos 6.50% 3/13/2027  | 2500 | 2484 |
| Petroleos Mexicanos 6.84% 1/23/2030  | 4260 | 4118 |
| Petroleos Mexicanos 5.95% 1/28/2031  | 3280 | 2968 |
| Petroleos Mexicanos 6.70% 2/16/2032  | 5793 | 5387 |
| Petroleos Mexicanos 6.50% 6/2/2041  | 41 | 31 |
| Petroleos Mexicanos 6.375% 1/23/2045  | 16 | 11 |
| Petroleos Mexicanos 6.75% 9/21/2047  | 139 | 101 |
| Petroleos Mexicanos 6.35% 2/12/2048  | 23 | 16 |
| Petroleos Mexicanos 7.69% 1/23/2050  | 2548 | 2006 |
| Petroleos Mexicanos 6.95% 1/28/2060  | 163 | 117 |
| Plains All American Pipeline, LP 3.80% 9/15/2030  | 101 | 97 |
| Rockies Express Pipeline, LLC 4.95% 7/15/2029 <sup>(d)</sup>  | 2689 | 2642 |
| Saudi Arabian Oil Co. 5.75% 7/17/2054 <sup>(d)</sup>  | 4040 | 3797 |
| Seadrill Finance, Ltd. 8.375% 8/1/2030 <sup>(d)</sup>  | 625 | 637 |
| South Bow USA Infrastructure Holdings, LLC 5.026% 10/1/2029 <sup>(d)</sup>  | 1668 | 1674 |
| Sunoco, LP 7.00% 9/15/2028 <sup>(d)</sup>  | 1475 | 1523 |
| Sunoco, LP 4.50% 5/15/2029  | 925 | 899 |
| Sunoco, LP 4.50% 4/30/2030  | 1105 | 1063 |
| Sunoco, LP 6.25% 7/1/2033 <sup>(d)</sup>  | 530 | 539 |
| Talos Production, Inc. 9.00% 2/1/2029 <sup>(d)</sup>  | 500 | 512 |
| Talos Production, Inc. 9.375% 2/1/2031 <sup>(d)</sup>  | 85 | 87 |
| TGS ASA 8.50% 1/15/2030 <sup>(d)</sup>  | 1235 | 1280 |
| Tidewater, Inc. 9.125% 7/15/2030 <sup>(d)</sup>  | 445 | 458 |
| TotalEnergies Capital SA 5.275% 9/10/2054  | 3750 | 3514 |
| TransCanada Pipelines, Ltd. 4.25% 5/15/2028  | 977 | 974 |
| TransCanada Pipelines, Ltd. 4.10% 4/15/2030  | 536 | 525 |
| Transocean Titan Financing, Ltd. 8.375% 2/1/2028 <sup>(d)</sup>  | 400 | 407 |
| Transocean, Inc. 8.00% 2/1/2027 <sup>(d)</sup>  | 105 | 104 |
| Transocean, Inc. 8.50% 5/15/2031 <sup>(d)</sup>  | 2000 | 1787 |
| Valero Energy Corp. 4.00% 4/1/2029  | 3584 | 3516 |
| Venture Global Calcasieu Pass, LLC 3.875% 8/15/2029 <sup>(d)</sup>  | 1030 | 972 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **113** | American Funds Insurance Series |

---

------

Asset Allocation Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Energy (continued)** |  |  |
| Venture Global Calcasieu Pass, LLC 4.125% 8/15/2031 <sup>(d)</sup>  | USD840 | $778 |
| Venture Global LNG, Inc. 8.375% 6/1/2031 <sup>(d)</sup>  | 3680 | 3825 |
| Venture Global LNG, Inc. 9.00% junior subordinated perpetual preferred bonds (5-year UST Yield Curve <br>Rate T Note Constant Maturity + 5.44% on 9/30/2029) <sup>(d)(k)</sup>  | 2000 | 1946 |
| Venture Global Plaquemines LNG, LLC 7.50% 5/1/2033 <sup>(d)</sup>  | 2215 | 2373 |
| Venture Global Plaquemines LNG, LLC 6.50% 1/15/2034 <sup>(d)</sup>  | 2730 | 2730 |
| Venture Global Plaquemines LNG, LLC 6.75% 1/15/2036 <sup>(d)</sup>  | 2035 | 2035 |
| Weatherford International, Ltd. 8.625% 4/30/2030 <sup>(d)</sup>  | 8996 | 9278 |
|  |  | 194729 |
| **Consumer discretionary 0.70%** |  |  |
| Aimbridge Acquisition Co., Inc., Term Loan, (1-month USD CME Term SOFR + 5.614%) 9.935% <br>3/11/2030 <sup>(b)(h)(l)</sup>  | 127 | 127 |
| Aimbridge Acquisition Co., Inc., Term Loan, (1-month USD CME Term SOFR + 7.614%) 6.00% PIK and <br>5.947% Cash 3/11/2030 <sup>(b)(h)(l)(n)</sup>  | 116 | 116 |
| Alibaba Group Holding, Ltd. 2.125% 2/9/2031  | 501 | 444 |
| Alibaba Group Holding, Ltd. 4.50% 11/28/2034  | 766 | 739 |
| Alibaba Group Holding, Ltd. 4.00% 12/6/2037  | 200 | 176 |
| Asbury Automotive Group, Inc. 4.625% 11/15/2029 <sup>(d)</sup>  | 2115 | 2044 |
| Bath & Body Works, Inc. 6.875% 11/1/2035  | 350 | 363 |
| Caesars Entertainment, Inc. 7.00% 2/15/2030 <sup>(d)</sup>  | 2075 | 2150 |
| Carnival Corp. 4.00% 8/1/2028 <sup>(d)</sup>  | 2375 | 2326 |
| Carnival Corp. 6.125% 2/15/2033 <sup>(d)</sup>  | 1270 | 1300 |
| Daimler Trucks Finance North America, LLC 4.95% 1/13/2028 <sup>(d)</sup>  | 6570 | 6657 |
| Daimler Trucks Finance North America, LLC 5.125% 1/19/2028 <sup>(d)</sup>  | 604 | 613 |
| Daimler Trucks Finance North America, LLC 2.375% 12/14/2028 <sup>(d)</sup>  | 1350 | 1260 |
| Daimler Trucks Finance North America, LLC 5.125% 9/25/2029 <sup>(d)</sup>  | 3281 | 3345 |
| Daimler Trucks Finance North America, LLC 5.25% 1/13/2030 <sup>(d)</sup>  | 8140 | 8333 |
| Daimler Trucks Finance North America, LLC 5.375% 6/25/2034 <sup>(d)</sup>  | 1070 | 1073 |
| Fertitta Entertainment, LLC 4.625% 1/15/2029 <sup>(d)</sup>  | 3580 | 3431 |
| Ford Motor Credit Co., LLC 6.798% 11/7/2028  | 2111 | 2188 |
| Ford Motor Credit Co., LLC 5.80% 3/8/2029  | 3385 | 3393 |
| Ford Motor Credit Co., LLC 5.875% 11/7/2029  | 6830 | 6853 |
| Ford Motor Credit Co., LLC 7.122% 11/7/2033  | 1425 | 1480 |
| Ford Motor Credit Co., LLC 6.50% 2/7/2035  | 4370 | 4366 |
| General Motors Financial Co., Inc. 5.35% 1/7/2030  | 10705 | 10840 |
| General Motors Financial Co., Inc. 5.45% 9/6/2034  | 1894 | 1858 |
| General Motors Financial Co., Inc. 5.90% 1/7/2035  | 9342 | 9397 |
| Global Auto Holdings PLC 11.50% 8/15/2029 <sup>(d)</sup>  | 1300 | 1273 |
| Great Canadian Gaming Corp. 8.75% 11/15/2029 <sup>(d)</sup>  | 3525 | 3453 |
| Group 1 Automotive, Inc. 6.375% 1/15/2030 <sup>(d)</sup>  | 1385 | 1425 |
| Hanesbrands, Inc. 9.00% 2/15/2031 <sup>(d)</sup>  | 1625 | 1722 |
| Hilton Domestic Operating Co., Inc. 4.00% 5/1/2031 <sup>(d)</sup>  | 1885 | 1774 |
| Hilton Grand Vacations Borrower, LLC 5.00% 6/1/2029 <sup>(d)</sup>  | 3580 | 3446 |
| Home Depot, Inc. 1.50% 9/15/2028  | 3000 | 2773 |
| Home Depot, Inc. 3.90% 12/6/2028  | 825 | 823 |
| Home Depot, Inc. 2.95% 6/15/2029  | 1174 | 1124 |
| Home Depot, Inc. 1.875% 9/15/2031  | 3000 | 2584 |
| Home Depot, Inc. 4.50% 12/6/2048  | 428 | 367 |
| Home Depot, Inc. 5.30% 6/25/2054  | 3000 | 2883 |
| Hyatt Hotels Corp. 5.05% 3/30/2028  | 3726 | 3767 |
| Hyatt Hotels Corp. 5.75% 3/30/2032  | 3520 | 3615 |
| Hyundai Capital America 1.50% 6/15/2026 <sup>(d)</sup>  | 762 | 740 |
| Hyundai Capital America 5.45% 6/24/2026 <sup>(d)</sup>  | 3905 | 3937 |
| Hyundai Capital America 4.875% 6/23/2027 <sup>(d)</sup>  | 1334 | 1342 |
| Hyundai Capital America 5.275% 6/24/2027 <sup>(d)</sup>  | 6273 | 6355 |
| Hyundai Capital America 2.375% 10/15/2027 <sup>(d)</sup>  | 2311 | 2198 |
| Hyundai Capital America 4.90% 6/23/2028 <sup>(d)</sup>  | 4992 | 5029 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **114** |

---

------

Asset Allocation Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Consumer discretionary (continued)** |  |  |
| Hyundai Capital America 2.10% 9/15/2028 <sup>(d)</sup>  | USD2,756 | $2544 |
| Hyundai Capital America 5.30% 1/8/2030 <sup>(d)</sup>  | 10081 | 10301 |
| Hyundai Capital America 5.10% 6/24/2030 <sup>(d)</sup>  | 4980 | 5036 |
| Hyundai Capital America 5.40% 1/8/2031 <sup>(d)</sup>  | 991 | 1013 |
| International Game Technology PLC 5.25% 1/15/2029 <sup>(d)</sup>  | 2445 | 2425 |
| KB Home 7.25% 7/15/2030  | 1295 | 1341 |
| LCM Investments Holdings II, LLC 4.875% 5/1/2029 <sup>(d)</sup>  | 440 | 428 |
| LCM Investments Holdings II, LLC 8.25% 8/1/2031 <sup>(d)</sup>  | 1025 | 1091 |
| Lithia Motors, Inc. 3.875% 6/1/2029 <sup>(d)</sup>  | 2900 | 2768 |
| Lithia Motors, Inc. 4.375% 1/15/2031 <sup>(d)</sup>  | 1025 | 975 |
| Marriott International, Inc. 4.90% 4/15/2029  | 1207 | 1229 |
| Marriott International, Inc. 2.75% 10/15/2033  | 2500 | 2129 |
| Marriott Ownership Resorts, Inc. 4.50% 6/15/2029 <sup>(d)</sup>  | 528 | 507 |
| McDonald's Corp. 4.60% 9/9/2032  | 642 | 643 |
| McDonald's Corp. 4.95% 3/3/2035  | 4392 | 4391 |
| Melco Resorts Finance, Ltd. 5.75% 7/21/2028 <sup>(d)</sup>  | 1710 | 1675 |
| Mercedes-Benz Finance North America, LLC 5.375% 11/26/2025 <sup>(d)</sup>  | 1344 | 1348 |
| Newell Brands, Inc. 8.50% 6/1/2028 <sup>(d)</sup>  | 715 | 753 |
| Newell Brands, Inc. 6.625% 9/15/2029  | 1850 | 1835 |
| Newell Brands, Inc. 6.375% 5/15/2030  | 535 | 522 |
| Newell Brands, Inc. 6.625% 5/15/2032  | 385 | 368 |
| Newell Brands, Inc. 6.875% 4/1/2036  | 1025 | 984 |
| Newell Brands, Inc. 7.00% 4/1/2046  | 475 | 407 |
| Nissan Motor Acceptance Co., LLC 1.85% 9/16/2026 <sup>(d)</sup>  | 320 | 305 |
| Nissan Motor Co., Ltd. 3.522% 9/17/2025 <sup>(d)</sup>  | 200 | 199 |
| Party City Holdco, Inc. 12.00% PIK 1/11/2029 <sup>(b)(d)(n)(o)</sup>  | 1355 | 135 |
| Petco Health and Wellness Co., Inc., Term Loan B, (3-month USD CME Term SOFR + 3.25%) 7.807% <br> 3/3/2028 <sup>(h)(l)</sup>  | 875 | 809 |
| RHP Hotel Properties, LP 6.50% 6/15/2033 <sup>(d)</sup>  | 575 | 592 |
| Royal Caribbean Cruises, Ltd. 5.375% 7/15/2027 <sup>(d)</sup>  | 910 | 916 |
| Royal Caribbean Cruises, Ltd. 6.00% 2/1/2033 <sup>(d)</sup>  | 1030 | 1051 |
| Sally Holdings, LLC 6.75% 3/1/2032  | 920 | 945 |
| Sands China, Ltd. 2.30% 3/8/2027  | 1859 | 1786 |
| Sonic Automotive, Inc. 4.625% 11/15/2029 <sup>(d)</sup>  | 3645 | 3539 |
| Sonic Automotive, Inc. 4.875% 11/15/2031 <sup>(d)</sup>  | 2215 | 2107 |
| Toyota Motor Credit Corp. 0.80% 1/9/2026  | 384 | 377 |
| Toyota Motor Credit Corp. 1.90% 1/13/2027  | 2240 | 2165 |
| Travel + Leisure Co. 4.50% 12/1/2029 <sup>(d)</sup>  | 2100 | 2031 |
| Universal Entertainment Corp. 9.875% 8/1/2029 <sup>(d)</sup>  | 600 | 587 |
| Volkswagen Group of America Finance, LLC 4.625% 11/13/2025 <sup>(d)</sup>  | 3446 | 3444 |
| Voyager Parent, LLC, Term Loan B, (1-month USD CME Term SOFR + 4.75%) 9.083% 5/10/2032 <sup>(h)(l)</sup>  | 2115 | 2096 |
|  |  | 193299 |
| **Information technology 0.56%** |  |  |
| Accenture Capital, Inc. 4.25% 10/4/2031  | 4734 | 4691 |
| Accenture Capital, Inc. 4.50% 10/4/2034  | 4453 | 4335 |
| Analog Devices, Inc. 5.05% 4/1/2034  | 1281 | 1314 |
| Analog Devices, Inc. 5.30% 4/1/2054  | 1762 | 1700 |
| Broadcom, Inc. 3.137% 11/15/2035 <sup>(d)</sup>  | 600 | 506 |
| Cisco Systems, Inc. 4.95% 2/26/2031  | 313 | 322 |
| Cisco Systems, Inc. 5.05% 2/26/2034  | 12 | 12 |
| Cisco Systems, Inc. 5.10% 2/24/2035  | 9674 | 9906 |
| Cloud Software Group, Inc. 6.50% 3/31/2029 <sup>(d)</sup>  | 4125 | 4166 |
| Cloud Software Group, Inc. 9.00% 9/30/2029 <sup>(d)</sup>  | 3750 | 3891 |
| Cloud Software Group, Inc. 8.25% 6/30/2032 <sup>(d)</sup>  | 2975 | 3169 |
| Cloud Software Group, Inc., Term Loan B1, (3-month USD CME Term SOFR + 3.50%) 7.796% <br>3/29/2029 <sup>(h)(l)</sup>  | 3816 | 3823 |
| CommScope Technologies, LLC 5.00% 3/15/2027 <sup>(d)</sup>  | 5703 | 5560 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **115** | American Funds Insurance Series |

---

------

Asset Allocation Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Information technology (continued)** |  |  |
| CommScope, LLC 8.25% 3/1/2027 <sup>(d)</sup>  | USD1,527 | $1522 |
| CommScope, LLC 7.125% 7/1/2028 <sup>(d)</sup>  | 1973 | 1941 |
| CommScope, LLC 9.50% 12/15/2031 <sup>(d)</sup>  | 400 | 419 |
| Commscope, LLC, Term Loan, (3-month USD CME Term SOFR + 5.25%) 9.577% 12/17/2029 <sup>(h)(l)</sup>  | 485 | 492 |
| CoreWeave, Inc. 9.25% 6/1/2030 <sup>(d)</sup>  | 1525 | 1560 |
| Diebold Nixdorf, Inc. 7.75% 3/31/2030 <sup>(d)</sup>  | 7575 | 8055 |
| Ellucian Holdings, Inc., Term Loan, (3-month USD CME Term SOFR + 4.75%) 9.077% 11/22/2032 <sup>(h)(l)</sup>  | 225 | 230 |
| Fair Isaac Corp. 4.00% 6/15/2028 <sup>(d)</sup>  | 1050 | 1023 |
| Fair Isaac Corp. 6.00% 5/15/2033 <sup>(d)</sup>  | 3925 | 3971 |
| Finastra USA, Inc., Term Loan B, (3-month USD CME Term SOFR + 7.25%) 11.428% 9/13/2029 <sup>(e)(h)(l)</sup>  | 2614 | 2633 |
| Finastra USA, Inc., Term Loan, (3-month USD CME Term SOFR + 7.25%) 11.428% 9/13/2029 <sup>(e)(h)(l)</sup>  | 54 | 55 |
| Gen Digital, Inc. 6.25% 4/1/2033 <sup>(d)</sup>  | 1375 | 1415 |
| Hughes Satellite Systems Corp. 5.25% 8/1/2026  | 12971 | 11556 |
| Hughes Satellite Systems Corp. 6.625% 8/1/2026  | 9228 | 6579 |
| ION Trading Technologies SARL 9.50% 5/30/2029 <sup>(d)</sup>  | 560 | 578 |
| Kaseya, Inc., Term Loan, (3-month USD CME Term SOFR + 3.25%) 7.577% 3/20/2032 <sup>(h)(l)</sup>  | 1746 | 1755 |
| Kaseya, Inc., Term Loan, (3-month USD CME Term SOFR + 5.00%) 9.327% 3/20/2033 <sup>(h)(l)</sup>  | 900 | 903 |
| Microchip Technology, Inc. 5.05% 3/15/2029  | 3000 | 3049 |
| Microchip Technology, Inc. 5.05% 2/15/2030  | 6361 | 6455 |
| NCR Atleos Corp. 9.50% 4/1/2029 <sup>(d)</sup>  | 4144 | 4542 |
| Open Text Holdings, Inc. 4.125% 12/1/2031 <sup>(d)</sup>  | 400 | 369 |
| Oracle Corp. 5.25% 2/3/2032  | 4750 | 4874 |
| Oracle Corp. 5.50% 8/3/2035  | 6232 | 6373 |
| Shift4 Payments, LLC, 6.75% 8/15/2032 <sup>(d)</sup>  | 2400 | 2494 |
| Synopsys, Inc. 5.15% 4/1/2035  | 6898 | 6956 |
| Synopsys, Inc. 5.70% 4/1/2055  | 5521 | 5493 |
| Texas Instruments, Inc. 4.60% 2/8/2029  | 2222 | 2261 |
| Texas Instruments, Inc. 4.85% 2/8/2034  | 1203 | 1223 |
| UKG, Inc. 6.875% 2/1/2031 <sup>(d)</sup>  | 950 | 986 |
| Unisys Corp. 10.625% 1/15/2031 <sup>(d)</sup>  | 1228 | 1266 |
| Viasat, Inc. 5.625% 4/15/2027 <sup>(d)</sup>  | 6733 | 6711 |
| Viasat, Inc. 6.50% 7/15/2028 <sup>(d)</sup>  | 1900 | 1797 |
| Viasat, Inc. 7.50% 5/30/2031 <sup>(d)</sup>  | 6626 | 5746 |
| Wolfspeed, Inc. 2.00% PIK and 9.875% Cash 6/23/2030 (13.875% on 6/22/2026) <sup>(e)(k)(n)</sup>  | 1014 | 1026 |
| Wolfspeed, Inc. 2.00% PIK and 9.875% Cash 6/23/2030 (13.875% on 6/23/2026) <sup>(e)(k)(n)</sup>  | 336 | 340 |
| X.Ai Corp. 12.50% 6/30/2030  | 2485 | 2485 |
| Xerox Holdings Corp. 5.50% 8/15/2028 <sup>(d)</sup>  | 600 | 459 |
| Xerox Holdings Corp. 8.875% 11/30/2029 <sup>(d)</sup>  | 779 | 589 |
|  |  | 153576 |
| **Industrials 0.51%** |  |  |
| AAdvantage Loyalty IP, Ltd. 5.50% 4/20/2026 <sup>(d)</sup>  | 335 | 334 |
| Albion Financing 1 SARL 7.00% 5/21/2030 <sup>(d)</sup>  | 6000 | 6138 |
| Ambipar Lux SARL 10.875% 2/5/2033 <sup>(d)</sup>  | 601 | 569 |
| Axon Enterprise, Inc. 6.125% 3/15/2030 <sup>(d)</sup>  | 5175 | 5335 |
| Axon Enterprise, Inc. 6.25% 3/15/2033 <sup>(d)</sup>  | 5835 | 6023 |
| BAE Systems PLC 5.125% 3/26/2029 <sup>(d)</sup>  | 3403 | 3489 |
| BAE Systems PLC 5.25% 3/26/2031 <sup>(d)</sup>  | 2663 | 2754 |
| BAE Systems PLC 5.30% 3/26/2034 <sup>(d)</sup>  | 2772 | 2835 |
| BAE Systems PLC 5.50% 3/26/2054 <sup>(d)</sup>  | 599 | 592 |
| Beach Acquisition Bidco, LLC, 10.75% PIK or 10.00% Cash 7/15/2033 <sup>(d)(n)</sup>  | 2125 | 2208 |
| Boeing Co. (The) 3.10% 5/1/2026  | 251 | 248 |
| Boeing Co. (The) 3.25% 2/1/2028  | 2000 | 1940 |
| Boeing Co. (The) 5.15% 5/1/2030  | 945 | 963 |
| Boeing Co. (The) 3.625% 2/1/2031  | 178 | 168 |
| Boeing Co. (The) 6.388% 5/1/2031  | 227 | 244 |
| Boeing Co. (The) 3.60% 5/1/2034  | 2500 | 2205 |
| Boeing Co. (The) 6.528% 5/1/2034  | 5453 | 5928 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **116** |

---

------

Asset Allocation Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Industrials (continued)** |  |  |
| Boeing Co. (The) 5.805% 5/1/2050  | USD3,605 | $3461 |
| Boeing Co. (The) 6.858% 5/1/2054  | 2361 | 2587 |
| Boeing Co. (The) 7.008% 5/1/2064  | 1301 | 1430 |
| Brink's Co. (The) 4.625% 10/15/2027 <sup>(d)</sup>  | 2385 | 2372 |
| Brink's Co. (The) 6.50% 6/15/2029 <sup>(d)</sup>  | 485 | 500 |
| Brink's Co. (The) 6.75% 6/15/2032 <sup>(d)</sup>  | 850 | 886 |
| Canadian Pacific Railway Co. 1.75% 12/2/2026  | 1385 | 1337 |
| Canadian Pacific Railway Co. 5.20% 3/30/2035  | 2705 | 2744 |
| Canadian Pacific Railway Co. 3.00% 12/2/2041  | 209 | 152 |
| Canadian Pacific Railway Co. 3.10% 12/2/2051  | 653 | 430 |
| Chart Industries, Inc. 7.50% 1/1/2030 <sup>(d)</sup>  | 1347 | 1412 |
| CSX Corp. 4.25% 3/15/2029  | 1062 | 1063 |
| CSX Corp. 5.05% 6/15/2035  | 6111 | 6149 |
| FTAI Aviation Investors, LLC 5.50% 5/1/2028 <sup>(d)</sup>  | 1540 | 1533 |
| Herc Holdings, Inc. 7.00% 6/15/2030 <sup>(d)</sup>  | 1510 | 1578 |
| Herc Holdings, Inc. 7.25% 6/15/2033 <sup>(d)</sup>  | 505 | 529 |
| Icahn Enterprises, LP 5.25% 5/15/2027  | 2535 | 2458 |
| Icahn Enterprises, LP 4.375% 2/1/2029  | 2500 | 2104 |
| L3Harris Technologies, Inc. 5.40% 7/31/2033  | 4059 | 4171 |
| LATAM Airlines Group SA 7.625% 1/7/2031 <sup>(d)</sup>  | 4250 | 4277 |
| Lockheed Martin Corp. 5.10% 11/15/2027  | 852 | 874 |
| Lockheed Martin Corp. 4.45% 5/15/2028  | 2604 | 2635 |
| Lockheed Martin Corp. 5.70% 11/15/2054  | 1657 | 1673 |
| Norfolk Southern Corp. 4.45% 3/1/2033  | 1515 | 1483 |
| Norfolk Southern Corp. 5.10% 5/1/2035  | 2842 | 2857 |
| Norfolk Southern Corp. 3.05% 5/15/2050  | 2746 | 1808 |
| Norfolk Southern Corp. 5.35% 8/1/2054  | 4136 | 3954 |
| Northrop Grumman Corp. 3.25% 1/15/2028  | 3132 | 3061 |
| OneSky Flight, LLC 8.875% 12/15/2029 <sup>(d)</sup>  | 1125 | 1172 |
| Otis Worldwide Corp. 2.293% 4/5/2027  | 1913 | 1852 |
| Paychex, Inc. 5.60% 4/15/2035  | 427 | 442 |
| QXO Building Products, Inc. 6.75% 4/30/2032 <sup>(d)</sup>  | 1455 | 1503 |
| Reworld Holding Corp. 4.875% 12/1/2029 <sup>(d)</sup>  | 1035 | 985 |
| RTX Corp. 5.15% 2/27/2033  | 2669 | 2729 |
| RTX Corp. 5.375% 2/27/2053  | 3950 | 3784 |
| Sabre GLBL, Inc. 11.125% 7/15/2030 <sup>(d)</sup>  | 2225 | 2330 |
| Siemens Funding BV 5.80% 5/28/2055 <sup>(d)</sup>  | 6288 | 6496 |
| Siemens Funding BV 5.90% 5/28/2065 <sup>(d)</sup>  | 5581 | 5782 |
| Texas Combined Tirz I, LLC 0% 12/7/2062 <sup>(b)(d)</sup>  | 400 | 400 |
| TransDigm, Inc. 6.625% 3/1/2032 <sup>(d)</sup>  | 1485 | 1539 |
| Triumph Group, Inc. 9.00% 3/15/2028 <sup>(d)</sup>  | 1310 | 1370 |
| Union Pacific Corp. 2.40% 2/5/2030  | 2163 | 1996 |
| Union Pacific Corp. 5.10% 2/20/2035  | 2865 | 2915 |
| Union Pacific Corp. 2.95% 3/10/2052  | 1000 | 639 |
| Union Pacific Corp. 5.60% 12/1/2054  | 2487 | 2476 |
| Union Pacific Corp. 3.839% 3/20/2060  | 546 | 393 |
| Union Pacific Corp. 3.799% 4/6/2071  | 545 | 374 |
|  |  | 140668 |
| **Real estate 0.39%** |  |  |
| Alexandria Real Estate Equities, Inc. 3.80% 4/15/2026  | 282 | 280 |
| Alexandria Real Estate Equities, Inc. 3.95% 1/15/2028  | 1093 | 1081 |
| Alexandria Real Estate Equities, Inc. 2.75% 12/15/2029  | 1738 | 1606 |
| Alexandria Real Estate Equities, Inc. 3.375% 8/15/2031  | 1183 | 1094 |
| Alexandria Real Estate Equities, Inc. 1.875% 2/1/2033  | 3670 | 2936 |
| Alexandria Real Estate Equities, Inc. 4.85% 4/15/2049  | 367 | 308 |
| American Tower Corp. 1.45% 9/15/2026  | 2369 | 2289 |
| American Tower Corp. 3.55% 7/15/2027  | 1277 | 1259 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **117** | American Funds Insurance Series |

---

------

Asset Allocation Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Real estate (continued)** |  |  |
| American Tower Corp. 3.60% 1/15/2028  | USD896 | $880 |
| American Tower Corp. 1.50% 1/31/2028  | 2240 | 2087 |
| American Tower Corp. 2.30% 9/15/2031  | 1344 | 1167 |
| American Tower Corp. 2.95% 1/15/2051  | 1792 | 1136 |
| Anywhere Real Estate Group, LLC 5.75% 1/15/2029 <sup>(d)</sup>  | 3040 | 2670 |
| Anywhere Real Estate Group, LLC 7.00% 4/15/2030 <sup>(d)</sup>  | 1975 | 1847 |
| Boston Properties, LP 6.50% 1/15/2034  | 2223 | 2381 |
| Boston Properties, LP 5.75% 1/15/2035  | 3143 | 3165 |
| Brookfield Property REIT, Inc., Term Loan B, (3-month USD CME Term SOFR + 3.25%) 7.56% 5/30/2030 <sup>(h)(l)</sup>  | 945 | 945 |
| Extra Space Storage, LP 2.35% 3/15/2032  | 1241 | 1054 |
| Fideicomiso Fibra Uno 7.70% 1/23/2032 <sup>(d)</sup>  | 1185 | 1236 |
| Host Hotels & Resorts, LP 4.50% 2/1/2026  | 318 | 317 |
| Howard Hughes Corp. (The) 5.375% 8/1/2028 <sup>(d)</sup>  | 1705 | 1693 |
| Howard Hughes Corp. (The) 4.125% 2/1/2029 <sup>(d)</sup>  | 2855 | 2721 |
| Howard Hughes Corp. (The) 4.375% 2/1/2031 <sup>(d)</sup>  | 3900 | 3602 |
| Invitation Homes Operating Partnership, LP 2.00% 8/15/2031  | 2152 | 1833 |
| Iron Mountain, Inc. 5.25% 7/15/2030 <sup>(d)</sup>  | 3785 | 3736 |
| Iron Mountain, Inc. 4.50% 2/15/2031 <sup>(d)</sup>  | 2650 | 2527 |
| Ladder Capital Finance Holdings LLLP 5.50% 8/1/2030  | 1884 | 1897 |
| MPT Operating Partnership, LP 5.00% 10/15/2027  | 12137 | 11221 |
| MPT Operating Partnership, LP 4.625% 8/1/2029  | 630 | 497 |
| MPT Operating Partnership, LP 8.50% 2/15/2032 <sup>(d)</sup>  | 3968 | 4156 |
| Park Intermediate Holdings, LLC 4.875% 5/15/2029 <sup>(d)</sup>  | 2280 | 2210 |
| Park Intermediate Holdings, LLC 7.00% 2/1/2030 <sup>(d)</sup>  | 1000 | 1029 |
| Prologis, LP 4.875% 6/15/2028  | 1357 | 1385 |
| Prologis, LP 4.75% 6/15/2033  | 2359 | 2354 |
| Prologis, LP 5.00% 3/15/2034  | 1850 | 1856 |
| Prologis, LP 5.00% 1/31/2035  | 1033 | 1033 |
| Public Storage Operating Co. 1.85% 5/1/2028  | 2231 | 2096 |
| Public Storage Operating Co. 1.95% 11/9/2028  | 1816 | 1692 |
| Public Storage Operating Co. 2.30% 5/1/2031  | 644 | 573 |
| Scentre Group Trust 1 3.25% 10/28/2025 <sup>(d)</sup>  | 896 | 892 |
| Scentre Group Trust 1 3.75% 3/23/2027 <sup>(d)</sup>  | 2178 | 2153 |
| Service Properties Trust 5.25% 2/15/2026  | 510 | 508 |
| Service Properties Trust 4.75% 10/1/2026  | 1635 | 1613 |
| Service Properties Trust 4.95% 2/15/2027  | 1540 | 1521 |
| Service Properties Trust 5.50% 12/15/2027  | 655 | 649 |
| Service Properties Trust 3.95% 1/15/2028  | 1815 | 1678 |
| Service Properties Trust 8.375% 6/15/2029  | 4228 | 4401 |
| Service Properties Trust 4.95% 10/1/2029  | 2715 | 2372 |
| Service Properties Trust 4.375% 2/15/2030  | 705 | 593 |
| Service Properties Trust 8.625% 11/15/2031 <sup>(d)</sup>  | 6775 | 7278 |
| Service Properties Trust 8.875% 6/15/2032  | 3803 | 3914 |
| Sun Communities Operating, LP 2.30% 11/1/2028  | 1653 | 1548 |
| Sun Communities Operating, LP 2.70% 7/15/2031  | 785 | 696 |
| UDR, Inc. 2.95% 9/1/2026  | 681 | 670 |
|  |  | 108335 |
| **Consumer staples 0.38%** |  |  |
| 7-Eleven, Inc. 0.95% 2/10/2026 <sup>(d)</sup>  | 739 | 723 |
| Albertsons Cos., Inc. 4.875% 2/15/2030 <sup>(d)</sup>  | 1000 | 984 |
| B&G Foods, Inc. 5.25% 9/15/2027  | 1000 | 912 |
| B&G Foods, Inc. 8.00% 9/15/2028 <sup>(d)</sup>  | 1750 | 1687 |
| BAT Capital Corp. 6.343% 8/2/2030  | 1191 | 1284 |
| BAT Capital Corp. 6.421% 8/2/2033  | 1290 | 1402 |
| BAT Capital Corp. 5.625% 8/15/2035  | 6074 | 6183 |
| BAT Capital Corp. 4.54% 8/15/2047  | 627 | 507 |
| Campbell's Co. (The) 4.75% 3/23/2035  | 952 | 915 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **118** |

---

------

Asset Allocation Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Consumer staples (continued)** |  |  |
| Coca-Cola Co. 1.00% 3/15/2028  | USD842 | $782 |
| Coca-Cola Co. 4.65% 8/14/2034  | 1618 | 1627 |
| Constellation Brands, Inc. 3.60% 2/15/2028  | 625 | 614 |
| Constellation Brands, Inc. 2.25% 8/1/2031  | 1487 | 1289 |
| Fiesta Purchaser, Inc. 9.625% 9/15/2032 <sup>(d)</sup>  | 400 | 423 |
| Imperial Brands Finance PLC 5.625% 7/1/2035 <sup>(d)</sup>  | 3643 | 3657 |
| Imperial Brands Finance PLC 6.375% 7/1/2055 <sup>(d)</sup>  | 2101 | 2132 |
| J. M. Smucker Co. (The) 5.90% 11/15/2028  | 2385 | 2507 |
| J. M. Smucker Co. (The) 6.20% 11/15/2033  | 1554 | 1669 |
| J. M. Smucker Co. (The) 6.50% 11/15/2043  | 229 | 243 |
| J. M. Smucker Co. (The) 6.50% 11/15/2053  | 806 | 862 |
| Kroger Co. 5.00% 9/15/2034  | 4462 | 4433 |
| Kroger Co. 5.50% 9/15/2054  | 1983 | 1884 |
| Mars, Inc. 4.80% 3/1/2030 <sup>(d)</sup>  | 3408 | 3454 |
| Mars, Inc. 5.00% 3/1/2032 <sup>(d)</sup>  | 1855 | 1881 |
| Mars, Inc. 5.20% 3/1/2035 <sup>(d)</sup>  | 385 | 390 |
| Mars, Inc. 5.70% 5/1/2055 <sup>(d)</sup>  | 6678 | 6666 |
| Mondelez International, Inc. 4.75% 8/28/2034  | 837 | 828 |
| Mondelez International, Inc. 5.125% 5/6/2035  | 2176 | 2188 |
| Philip Morris International, Inc. 5.125% 11/17/2027  | 3073 | 3135 |
| Philip Morris International, Inc. 4.875% 2/15/2028  | 6000 | 6103 |
| Philip Morris International, Inc. 4.625% 11/1/2029  | 6764 | 6830 |
| Philip Morris International, Inc. 5.625% 11/17/2029  | 1482 | 1557 |
| Philip Morris International, Inc. 5.125% 2/15/2030  | 4166 | 4288 |
| Philip Morris International, Inc. 4.375% 4/30/2030  | 2554 | 2548 |
| Philip Morris International, Inc. 5.125% 2/13/2031  | 2275 | 2344 |
| Philip Morris International, Inc. 4.75% 11/1/2031  | 6194 | 6243 |
| Philip Morris International, Inc. 4.90% 11/1/2034  | 6755 | 6728 |
| Philip Morris International, Inc. 4.875% 4/30/2035  | 1907 | 1882 |
| Post Holdings, Inc. 4.625% 4/15/2030 <sup>(d)</sup>  | 2886 | 2777 |
| Post Holdings, Inc. 6.25% 2/15/2032 <sup>(d)</sup>  | 3279 | 3374 |
| Prestige Brands, Inc. 3.75% 4/1/2031 <sup>(d)</sup>  | 1115 | 1028 |
| Reynolds American, Inc. 5.85% 8/15/2045  | 2030 | 1960 |
| Walgreens Boots Alliance, Inc. 3.45% 6/1/2026  | 1595 | 1562 |
|  |  | 104485 |
| **Utilities 0.36%** |  |  |
| AEP Transmission Co., LLC 5.375% 6/15/2035  | 50 | 51 |
| Calpine Corp. 3.75% 3/1/2031 <sup>(d)</sup>  | 1975 | 1875 |
| CMS Energy Corp., junior subordinated, 6.50% 6/1/2055 (5-year UST Yield Curve Rate T Note Constant <br> Maturity + 1.961% on 6/1/2035) <sup>(k)</sup>  | 1375 | 1382 |
| Commonwealth Edison Co. 4.35% 11/15/2045  | 972 | 823 |
| Commonwealth Edison Co. 3.85% 3/15/2052  | 2330 | 1762 |
| Connecticut Light and Power Co. (The) 4.95% 8/15/2034  | 1837 | 1838 |
| Consumers Energy Co. 5.05% 5/15/2035  | 525 | 529 |
| Duke Energy Indiana, LLC 3.25% 10/1/2049  | 850 | 577 |
| Duke Energy Progress, LLC 3.70% 10/15/2046  | 457 | 345 |
| Duke Energy Progress, LLC 2.50% 8/15/2050  | 202 | 117 |
| Duke Energy Progress, LLC 2.90% 8/15/2051  | 91 | 57 |
| Edison International 4.125% 3/15/2028  | 1225 | 1183 |
| Edison International 5.25% 11/15/2028  | 1537 | 1522 |
| Edison International 5.45% 6/15/2029  | 917 | 907 |
| Edison International 6.95% 11/15/2029  | 2461 | 2559 |
| Edison International 6.25% 3/15/2030  | 3740 | 3800 |
| Edison International 5.25% 3/15/2032  | 7445 | 7067 |
| Electricite de France SA 6.25% 5/23/2033 <sup>(d)</sup>  | 1075 | 1152 |
| Electricite de France SA 9.125% junior subordinated perpetual bonds (5-year UST Yield Curve Rate T <br> Note Constant Maturity + 5.411% on 6/15/2033) <sup>(d)(k)</sup>  | 1475 | 1667 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **119** | American Funds Insurance Series |

---

------

Asset Allocation Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Utilities (continued)** |  |  |
| Emera US Finance, LP 3.55% 6/15/2026  | USD287 | $284 |
| Exelon Corp., junior subordinated, 6.50% 3/15/2055 (5-year UST Yield Curve Rate T Note Constant Maturity <br> + 1.975% on 3/15/2035) <sup>(k)</sup>  | 1000 | 1018 |
| FirstEnergy Transmission, LLC 2.866% 9/15/2028 <sup>(d)</sup>  | 605 | 577 |
| Ithaca Energy (North Sea) PLC 8.125% 10/15/2029 <sup>(d)</sup>  | 1000 | 1032 |
| Long Ridge Energy, LLC, 8.75% 2/15/2032 <sup>(d)</sup>  | 2605 | 2708 |
| Long Ridge Energy, LLC, Term Loan B, (3-month USD CME Term SOFR + 4.50%) 8.796% 2/19/2032 <sup>(h)(l)</sup>  | 1920 | 1901 |
| MidAmerican Energy Co. 5.85% 9/15/2054  | 875 | 902 |
| Northern States Power Co. 2.60% 6/1/2051  | 735 | 444 |
| Northern States Power Co. 5.65% 5/15/2055  | 175 | 175 |
| Pacific Gas and Electric Co. 2.10% 8/1/2027  | 125 | 118 |
| Pacific Gas and Electric Co. 5.00% 6/4/2028  | 450 | 451 |
| Pacific Gas and Electric Co. 4.65% 8/1/2028  | 800 | 796 |
| Pacific Gas and Electric Co. 6.40% 6/15/2033  | 192 | 201 |
| Pacific Gas and Electric Co. 6.95% 3/15/2034  | 5560 | 5988 |
| Pacific Gas and Electric Co. 5.70% 3/1/2035  | 13859 | 13742 |
| Pacific Gas and Electric Co. 6.00% 8/15/2035  | 4962 | 5020 |
| Pacific Gas and Electric Co. 3.30% 8/1/2040  | 90 | 64 |
| Pacific Gas and Electric Co. 4.95% 7/1/2050  | 2950 | 2381 |
| PacifiCorp 5.30% 2/15/2031  | 1404 | 1447 |
| PacifiCorp 5.45% 2/15/2034  | 796 | 808 |
| PacifiCorp 5.35% 12/1/2053  | 3298 | 2968 |
| PacifiCorp 5.80% 1/15/2055  | 575 | 551 |
| Public Service Electric and Gas Co. 3.60% 12/1/2047  | 548 | 407 |
| Saavi Energia SARL 8.875% 2/10/2035 <sup>(d)</sup>  | 1495 | 1562 |
| Southern California Edison Co. 2.85% 8/1/2029  | 4450 | 4120 |
| Southern California Edison Co. 5.45% 6/1/2031  | 2500 | 2546 |
| Southern California Edison Co. 5.20% 6/1/2034  | 2522 | 2448 |
| Southern California Edison Co. 5.75% 4/1/2035  | 675 | 689 |
| Southern California Edison Co. 5.35% 7/15/2035  | 3000 | 2925 |
| Southern California Edison Co. 3.65% 2/1/2050  | 234 | 155 |
| Southern California Edison Co. 6.20% 9/15/2055  | 4770 | 4572 |
| Talen Energy Supply, LLC 8.625% 6/1/2030 <sup>(d)</sup>  | 400 | 429 |
| Trinidad Generation Unlimited 7.75% 6/16/2033 <sup>(d)</sup>  | 2295 | 2379 |
| Virginia Electric & Power 2.40% 3/30/2032  | 2307 | 2002 |
| Xcel Energy, Inc. 2.60% 12/1/2029  | 1131 | 1047 |
| Xcel Energy, Inc. 5.50% 3/15/2034  | 285 | 290 |
| XPLR Infrastructure Operating Partners, LP 8.375% 1/15/2031 <sup>(d)</sup>  | 1150 | 1229 |
|  |  | 99589 |
| **Materials 0.31%** |  |  |
| Avient Corp. 7.125% 8/1/2030 <sup>(d)</sup>  | 855 | 882 |
| Avient Corp. 6.25% 11/1/2031 <sup>(d)</sup>  | 170 | 172 |
| Celanese US Holdings, LLC 6.415% 7/15/2027  | 1996 | 2068 |
| Celanese US Holdings, LLC 7.05% 11/15/2030  | 2501 | 2634 |
| Celanese US Holdings, LLC 7.20% 11/15/2033  | 1618 | 1719 |
| Cleveland-Cliffs, Inc. 5.875% 6/1/2027  | 5425 | 5424 |
| Cleveland-Cliffs, Inc. 4.625% 3/1/2029 <sup>(d)</sup>  | 3625 | 3332 |
| Cleveland-Cliffs, Inc. 6.875% 11/1/2029 <sup>(d)</sup>  | 1650 | 1626 |
| Cleveland-Cliffs, Inc. 6.75% 4/15/2030 <sup>(d)</sup>  | 2275 | 2203 |
| Cleveland-Cliffs, Inc. 4.875% 3/1/2031 <sup>(d)</sup>  | 775 | 664 |
| Cleveland-Cliffs, Inc. 7.50% 9/15/2031 <sup>(d)</sup>  | 2000 | 1931 |
| Cleveland-Cliffs, Inc. 7.00% 3/15/2032 <sup>(d)</sup>  | 2695 | 2544 |
| Consolidated Energy Finance SA 12.00% 2/15/2031 <sup>(d)</sup>  | 1480 | 1453 |
| Dow Chemical Co. (The) 5.35% 3/15/2035  | 2674 | 2661 |
| Dow Chemical Co. (The) 4.80% 5/15/2049  | 435 | 358 |
| Dow Chemical Co. (The) 3.60% 11/15/2050  | 1057 | 716 |
| Dow Chemical Co. (The) 5.95% 3/15/2055  | 4720 | 4503 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **120** |

---

------

Asset Allocation Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Materials (continued)** |  |  |
| First Quantum Minerals, Ltd. 9.375% 3/1/2029 <sup>(d)</sup>  | USD5,370 | $5706 |
| First Quantum Minerals, Ltd. 8.00% 3/1/2033 <sup>(d)</sup>  | 950 | 976 |
| FXI Holdings, Inc. 12.25% 11/15/2026 <sup>(d)</sup>  | 4517 | 3980 |
| FXI Holdings, Inc. 12.25% 11/15/2026 <sup>(d)</sup>  | 2181 | 1931 |
| International Flavors & Fragrances, Inc. 1.832% 10/15/2027 <sup>(d)</sup>  | 1406 | 1325 |
| JH North America Holdings, Inc. 5.875% 1/31/2031 <sup>(d)</sup>  | 1700 | 1716 |
| JH North America Holdings, Inc. 6.125% 7/31/2032 <sup>(d)</sup>  | 1335 | 1358 |
| Linde, Inc. 1.10% 8/10/2030  | 2633 | 2266 |
| LYB International Finance III, LLC 6.15% 5/15/2035  | 757 | 786 |
| Methanex Corp. 5.125% 10/15/2027  | 6305 | 6288 |
| Methanex US Operations, Inc. 6.25% 3/15/2032 <sup>(d)</sup>  | 330 | 329 |
| Minera Mexico SA de CV, 5.625% 2/12/2032 <sup>(d)</sup>  | 6734 | 6856 |
| Mineral Resources, Ltd. 9.25% 10/1/2028 <sup>(d)</sup>  | 945 | 968 |
| Mineral Resources, Ltd. 8.50% 5/1/2030 <sup>(d)</sup>  | 1525 | 1519 |
| Mosaic Co. 4.05% 11/15/2027  | 941 | 934 |
| NOVA Chemicals Corp. 4.25% 5/15/2029 <sup>(d)</sup>  | 1785 | 1718 |
| NOVA Chemicals Corp. 9.00% 2/15/2030 <sup>(d)</sup>  | 775 | 838 |
| NOVA Chemicals Corp. 7.00% 12/1/2031 <sup>(d)</sup>  | 1130 | 1185 |
| Quikrete Holdings, Inc. 6.375% 3/1/2032 <sup>(d)</sup>  | 555 | 571 |
| Quikrete Holdings, Inc. 6.75% 3/1/2033 <sup>(d)</sup>  | 1050 | 1084 |
| Rio Tinto Finance (USA) PLC 5.25% 3/14/2035  | 1339 | 1363 |
| Rio Tinto Finance (USA) PLC 5.75% 3/14/2055  | 3244 | 3251 |
| Venator Material, LLC, Term Loan, (3-month USD CME Term SOFR + 2.00%) 8.00% PIK and 6.308% Cash <br>1/16/2026 <sup>(b)(h)(l)(n)</sup>  | 766 | 421 |
| Venator Material, LLC, Term Loan, (3-month USD CME Term SOFR + 8.00%) 8.00% PIK and 6.329% Cash <br>7/16/2026 <sup>(b)(h)(l)(n)</sup>  | 770 | 423 |
| Venator Material, LLC, Term Loan, (USD-SOFR + 10.00%) 8.00% PIK and 6.302% Cash 10/12/2028 <sup>(b)(h)(l)(n)</sup>  | 1267 | 697 |
| Veritiv Operating Co. 10.50% 11/30/2030 <sup>(d)</sup>  | 640 | 694 |
| Warrior Met Coal, Inc. 7.875% 12/1/2028 <sup>(d)</sup>  | 2212 | 2259 |
| Westlake Corp. 4.375% 11/15/2047  | 448 | 350 |
|  |  | 86682 |
| **Total corporate bonds, notes & loans** |  | 2018984 |
| **U.S. Treasury bonds & notes 6.89%** | **U.S. Treasury bonds & notes 6.89%** | **U.S. Treasury bonds & notes 6.89%** |
| **U.S. Treasury 6.71%** |  |  |
| U.S. Treasury 4.75% 7/31/2025  | 50547 | 50563 |
| U.S. Treasury 5.00% 10/31/2025  | 2167 | 2172 |
| U.S. Treasury 4.875% 11/30/2025  | 12250 | 12278 |
| U.S. Treasury 0.50% 2/28/2026  | 42515 | 41501 |
| U.S. Treasury 4.625% 2/28/2026  | 1878 | 1883 |
| U.S. Treasury 3.625% 5/15/2026  | 1071 | 1067 |
| U.S. Treasury 4.625% 6/30/2026  | 17210 | 17312 |
| U.S. Treasury 4.125% 2/15/2027  | 1258 | 1264 |
| U.S. Treasury 2.625% 5/31/2027  | 96250 | 94271 |
| U.S. Treasury 3.875% 5/31/2027  | 87803 | 88007 |
| U.S. Treasury 0.50% 6/30/2027  | 28098 | 26368 |
| U.S. Treasury 3.75% 6/30/2027  | 130554 | 130641 |
| U.S. Treasury 4.125% 9/30/2027  | 90000 | 90817 |
| U.S. Treasury 4.00% 2/29/2028  | 46200 | 46549 |
| U.S. Treasury 3.625% 3/31/2028  | 9 | 9 |
| U.S. Treasury 3.50% 4/30/2028  | 5600 | 5569 |
| U.S. Treasury 3.875% 6/15/2028  | 17264 | 17355 |
| U.S. Treasury 4.00% 1/31/2029  | 8844 | 8924 |
| U.S. Treasury 2.875% 4/30/2029  | 50000 | 48478 |
| U.S. Treasury 4.25% 6/30/2029  | 28885 | 29425 |
| U.S. Treasury 4.00% 3/31/2030  | 83865 | 84645 |
| U.S. Treasury 0.625% 5/15/2030  | 9358 | 8051 |
| U.S. Treasury 4.00% 5/31/2030  | 25757 | 26005 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **121** | American Funds Insurance Series |

---

------

Asset Allocation Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **U.S. Treasury bonds & notes (continued)** | **U.S. Treasury bonds & notes (continued)** | **U.S. Treasury bonds & notes (continued)** |
| **U.S. Treasury (continued)** |  |  |
| U.S. Treasury 3.875% 6/30/2030  | USD230,050 | $230940 |
| U.S. Treasury 4.00% 7/31/2030  | 8160 | 8231 |
| U.S. Treasury 4.875% 10/31/2030  | 45491 | 47751 |
| U.S. Treasury 4.25% 6/30/2031  | 17165 | 17479 |
| U.S. Treasury 2.875% 5/15/2032  | 50000 | 46649 |
| U.S. Treasury 4.00% 6/30/2032  | 59074 | 59106 |
| U.S. Treasury 4.125% 11/15/2032  | 648 | 652 |
| U.S. Treasury 3.50% 2/15/2033  | 27034 | 26060 |
| U.S. Treasury 3.875% 8/15/2033  | 114911 | 113196 |
| U.S. Treasury 4.375% 5/15/2034  | 14285 | 14514 |
| U.S. Treasury 4.25% 11/15/2034  | 2075 | 2082 |
| U.S. Treasury 4.25% 5/15/2035  | 18803 | 18828 |
| U.S. Treasury 1.375% 11/15/2040  | 51338 | 32696 |
| U.S. Treasury 1.75% 8/15/2041  | 24960 | 16570 |
| U.S. Treasury 2.00% 11/15/2041  | 1058 | 728 |
| U.S. Treasury 4.625% 5/15/2044  | 14928 | 14638 |
| U.S. Treasury 5.00% 5/15/2045  | 99575 | 102275 |
| U.S. Treasury 2.50% 2/15/2046  | 3365 | 2332 |
| U.S. Treasury 3.00% 5/15/2047  | 8383 | 6277 |
| U.S. Treasury 3.00% 2/15/2048  | 301 | 224 |
| U.S. Treasury 2.25% 2/15/2052  | 72025 | 43985 |
| U.S. Treasury 4.00% 11/15/2052  | 5700 | 4987 |
| U.S. Treasury 3.625% 2/15/2053 <sup>(i)</sup>  | 121025 | 98766 |
| U.S. Treasury 3.625% 5/15/2053  | 18989 | 15484 |
| U.S. Treasury 4.25% 2/15/2054  | 17191 | 15688 |
| U.S. Treasury 4.25% 8/15/2054  | 37315 | 34073 |
| U.S. Treasury 4.625% 2/15/2055  | 49676 | 48353 |
|  |  | 1855718 |
| **U.S. Treasury inflation-protected securities 0.18%** |  |  |
| U.S. Treasury Inflation-Protected Security 0.375% 7/15/2025 <sup>(p)</sup>  | 4485 | 4483 |
| U.S. Treasury Inflation-Protected Security 0.125% 10/15/2025 <sup>(p)</sup>  | 3767 | 3755 |
| U.S. Treasury Inflation-Protected Security 2.125% 1/15/2035 <sup>(p)</sup>  | 21632 | 21989 |
| U.S. Treasury Inflation-Protected Security 2.125% 2/15/2054 <sup>(p)</sup>  | 22946 | 21009 |
|  |  | 51236 |
| **Total U.S. Treasury bonds & notes** |  | 1906954 |
| **Asset-backed obligations 2.05%** | **Asset-backed obligations 2.05%** | **Asset-backed obligations 2.05%** |
| Affirm Asset Securitization Trust, Series 2021-Z2, Class A, 1.17% 11/16/2026 <sup>(d)(g)</sup>  | 5 | 5 |
| Affirm Asset Securitization Trust, Series 2024-B, Class A, 4.62% 9/15/2029 <sup>(d)(g)</sup>  | 10457 | 10463 |
| Affirm, Inc., Series 2024-A, Class A, 5.61% 2/15/2029 <sup>(d)(g)</sup>  | 2962 | 2976 |
| Affirm, Inc., Series 2024-X1, Class A, 6.27% 5/15/2029 <sup>(d)(g)</sup>  | 184 | 184 |
| Affirm, Inc., Series 2024-X2, Class A, 5.22% 12/17/2029 <sup>(d)(g)</sup>  | 920 | 921 |
| American Credit Acceptance Receivables Trust, Series 2024-3, Class A, 5.76% 11/12/2027 <sup>(d)(g)</sup>  | 809 | 811 |
| American Credit Acceptance Receivables Trust, Series 2024-4, Class A, 4.81% 3/13/2028 <sup>(d)(g)</sup>  | 371 | 371 |
| American Credit Acceptance Receivables Trust, Series 2024-3, Class B, 5.66% 8/14/2028 <sup>(d)(g)</sup>  | 1328 | 1335 |
| American Credit Acceptance Receivables Trust, Series 2025-2, Class B, 4.85% 5/14/2029 <sup>(d)(g)</sup>  | 232 | 233 |
| American Credit Acceptance Receivables Trust, Series 2024-3, Class C, 5.73% 7/12/2030 <sup>(d)(g)</sup>  | 3332 | 3372 |
| American Credit Acceptance Receivables Trust, Series 2024-4, Class C, 4.91% 8/12/2031 <sup>(d)(g)</sup>  | 1005 | 1008 |
| Apollo Aviation Securitization Equity Trust, Series 2025-2A, Class A, 5.522% 2/16/2050 <sup>(d)(g)</sup>  | 3914 | 3961 |
| AutoNation Finance Trust 2025-1, Series 2025-1A, Class A2, 4.72% 4/10/2028 <sup>(d)(g)</sup>  | 255 | 255 |
| Avant Credit Card Master Trust, Series 2024-2A, Class A, 5.38% 5/15/2029 <sup>(d)(g)</sup>  | 8500 | 8479 |
| Avant Credit Card Master Trust, Series 2024-2A, Class B, 5.73% 5/15/2029 <sup>(d)(g)</sup>  | 4100 | 4083 |
| Avant Credit Card Master Trust, Series 2024-2A, Class C, 6.41% 5/15/2029 <sup>(d)(g)</sup>  | 2715 | 2706 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2020-2, Class A, 2.02% 2/20/2027 <sup>(d)(g)</sup>  | 20244 | 20015 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2020-2A, Class B, 2.96% 2/20/2027 <sup>(d)(g)</sup>  | 138 | 137 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2021-1A, Class A, 1.38% 8/20/2027 <sup>(d)(g)</sup>  | 10410 | 10114 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **122** |

---

------

Asset Allocation Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-5, Class A, 5.78% 4/20/2028 <sup>(d)(g)</sup>  | USD29,013 | $29616 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-6, Class A, 5.81% 12/20/2029 <sup>(d)(g)</sup>  | 4960 | 5160 |
| Ballyrock, Ltd., CLO, Series 2019-2A, Class A1R, (3-month USD CME Term SOFR + 1.40%) 5.722% <br>2/20/2036 <sup>(d)(g)(h)</sup>  | 7810 | 7830 |
| Bankers Healthcare Group Securitization Trust, Series 2021-A, Class A, 1.42% 11/17/2033 <sup>(d)(g)</sup>  | 116 | 114 |
| BofA Auto Trust, Series 2024-1, Class A3, 5.35% 11/15/2028 <sup>(d)(g)</sup>  | 2470 | 2495 |
| Bridgecrest Lending Auto Securitization Trust, Series 2024-3, Class A2, 5.54% 2/16/2027 <sup>(g)</sup>  | 332 | 332 |
| Bridgecrest Lending Auto Securitization Trust, Series 2025-1, Class A2, 4.71% 9/15/2027 <sup>(g)</sup>  | 688 | 688 |
| Bridgecrest Lending Auto Securitization Trust, Series 2024-4, Class A2, 4.84% 9/15/2027 <sup>(g)</sup>  | 531 | 531 |
| Bridgecrest Lending Auto Securitization Trust, Series 2024-3, Class A3, 5.34% 4/17/2028 <sup>(g)</sup>  | 2186 | 2192 |
| Bridgecrest Lending Auto Securitization Trust, Series 2024-4, Class A3, 4.72% 9/15/2028 <sup>(g)</sup>  | 955 | 956 |
| Bridgecrest Lending Auto Securitization Trust, Series 2024-4, Class B, 4.77% 8/15/2030 <sup>(g)</sup>  | 1679 | 1681 |
| CAL Funding IV, Ltd., Series 2020-1A, Class A, 2.22% 9/25/2045 <sup>(d)(g)</sup>  | 892 | 842 |
| CarMax Auto Owner Trust, Series 2024-2, Class A2A, 5.65% 5/17/2027 <sup>(g)</sup>  | 1710 | 1715 |
| CarMax Auto Owner Trust, Series 2024-3, Class A3, 4.89% 7/16/2029 <sup>(g)</sup>  | 8604 | 8698 |
| CarMax Select Receivables Trust, Series 2024-A, Class A2A, 5.78% 9/15/2027 <sup>(g)</sup>  | 652 | 654 |
| Castlelake Aircraft Securitization Trust, Series 2021-1, Class A, 2.868% 5/11/2037 <sup>(d)(g)</sup>  | 4138 | 3816 |
| Castlelake Aircraft Securitization Trust, Series 2017-1R, Class A, 2.741% 8/15/2041 <sup>(d)(g)</sup>  | 162 | 157 |
| Castlelake Aircraft Securitization Trust, Series 2025-1A, Class A, 5.783% 2/15/2050 <sup>(d)(g)</sup>  | 4714 | 4787 |
| CF Hippolyta, LLC, Series 2020-1, Class A1, 1.69% 7/15/2060 <sup>(d)(g)</sup>  | 5140 | 5086 |
| CF Hippolyta, LLC, Series 2020-1, Class A2, 1.99% 7/15/2060 <sup>(d)(g)</sup>  | 1707 | 1580 |
| CF Hippolyta, LLC, Series 2021-1, Class A1, 1.53% 3/15/2061 <sup>(d)(g)</sup>  | 6034 | 5808 |
| Chase Auto Owner Trust, Series 2024-2, Class A2, 5.66% 5/26/2027 <sup>(d)(g)</sup>  | 1230 | 1232 |
| Chase Auto Owner Trust, Series 2024-4A, Class A2, 5.25% 9/27/2027 <sup>(d)(g)</sup>  | 2349 | 2354 |
| Chase Auto Owner Trust, Series 2024-3, Class A2, 5.53% 9/27/2027 <sup>(d)(g)</sup>  | 2213 | 2219 |
| Chase Auto Owner Trust, Series 2024-4A, Class A3, 4.94% 7/25/2029 <sup>(d)(g)</sup>  | 5309 | 5359 |
| Chase Auto Owner Trust, Series 2024-3, Class A3, 5.22% 7/25/2029 <sup>(d)(g)</sup>  | 4257 | 4308 |
| CLI Funding VI, LLC, Series 2020-2A, Class A, 2.03% 9/15/2045 <sup>(d)(g)</sup>  | 968 | 901 |
| CLI Funding VI, LLC, Series 2020-1A, Class A, 2.08% 9/18/2045 <sup>(d)(g)</sup>  | 3648 | 3394 |
| CLI Funding VI, LLC, Series 2020-3A, Class A, 2.07% 10/18/2045 <sup>(d)(g)</sup>  | 759 | 707 |
| CLI Funding VIII, LLC, Series 2021-1A, Class A, 1.64% 2/18/2046 <sup>(d)(g)</sup>  | 1050 | 964 |
| CNH Equipment Trust, Series 2024-B, Class A2A, 5.42% 10/15/2027 <sup>(g)</sup>  | 1569 | 1574 |
| CPS Auto Receivables Trust, Series 2024-C, Class A, 5.88% 2/15/2028 <sup>(d)(g)</sup>  | 904 | 907 |
| Credit Acceptance Auto Loan Trust, Series 2023-3, Class A, 6.39% 8/15/2033 <sup>(d)(g)</sup>  | 1958 | 1976 |
| Daimler Trucks Retail Trust, Series 2024-1, Class A2, 5.60% 4/15/2026 <sup>(g)</sup>  | 773 | 774 |
| Daimler Trucks Retail Trust, Series 2024-1, Class A3, 5.49% 12/15/2027 <sup>(g)</sup>  | 3457 | 3494 |
| EDvestinU Private Education Loan, LLC, Series 2021-A, Class A, 1.80% 11/25/2045 <sup>(d)(g)</sup>  | 215 | 198 |
| Enterprise Fleet Financing, LLC, Series 2024-2, Class A2, 5.74% 12/20/2026 <sup>(d)(g)</sup>  | 679 | 682 |
| Enterprise Fleet Financing, LLC, Series 2024-3, Class A2, 5.31% 4/20/2027 <sup>(d)(g)</sup>  | 3048 | 3061 |
| Enterprise Fleet Financing, LLC, Series 2022-3, Class A2, 4.38% 7/20/2029 <sup>(d)(g)</sup>  | 616 | 615 |
| Enterprise Fleet Financing, LLC, Series 2022-4, Class A2, 5.76% 10/22/2029 <sup>(d)(g)</sup>  | 1484 | 1490 |
| EquipmentShare, Series 2024-2M, Class A, 5.70% 12/20/2032 <sup>(d)(g)</sup>  | 2609 | 2651 |
| EquipmentShare, Series 2025-1M, Class A, 5.48% 9/26/2033 <sup>(d)(g)</sup>  | 926 | 933 |
| Exeter Automobile Receivables Trust, Series 2025-1A, Class A2, 4.70% 9/15/2027 <sup>(g)</sup>  | 1744 | 1744 |
| Exeter Automobile Receivables Trust, Series 2025-1A, Class A3, 4.67% 8/15/2028 <sup>(g)</sup>  | 930 | 932 |
| First National Master Note Trust, Series 2025-1, Class A, 4.85% 2/15/2030 <sup>(g)</sup>  | 4558 | 4641 |
| First National Master Note Trust, Series 2024-1, Class A, 5.34% 5/15/2030 <sup>(g)</sup>  | 3970 | 4052 |
| FirstKey Homes Trust, Series 2020-SFR2, Class A, 1.266% 10/19/2037 <sup>(d)(g)</sup>  | 4756 | 4696 |
| Ford Credit Auto Owner Trust, Series 2023-2, Class A, 5.28% 2/15/2036 <sup>(d)(g)</sup>  | 5998 | 6184 |
| Ford Credit Auto Owner Trust, Series 2024-1, Class A, 4.87% 8/15/2036 <sup>(d)(g)(h)</sup>  | 13442 | 13716 |
| Ford Credit Floorplan Master Owner Trust, Series 2024-3, Class A1, 4.30% 9/15/2029 <sup>(d)(g)</sup>  | 3235 | 3243 |
| GCI Funding I, LLC, Series 2020-1, Class A, 2.82% 10/18/2045 <sup>(d)(g)</sup>  | 417 | 393 |
| GCI Funding I, LLC, Series 2020-1, Class B, 3.81% 10/18/2045 <sup>(d)(g)</sup>  | 188 | 177 |
| Global SC Finance V SRL, Series 2019-1A, Class B, 4.81% 9/17/2039 <sup>(d)(g)</sup>  | 1527 | 1483 |
| Global SC Finance V SRL, Series 2020-1A, Class A, 2.17% 10/17/2040 <sup>(d)(g)</sup>  | 6501 | 6200 |
| Global SC Finance VII SRL, Series 2020-2A, Class A, 2.26% 11/19/2040 <sup>(d)(g)</sup>  | 8223 | 7854 |
| Global SC Finance VII SRL, Series 2021-1A, Class A, 1.86% 4/17/2041 <sup>(d)(g)</sup>  | 2758 | 2554 |
| Global SC Finance VII SRL, Series 2021-2A, Class A, 1.95% 8/17/2041 <sup>(d)(g)</sup>  | 4088 | 3813 |
| Global SC Finance VII SRL, Series 2021-2A, Class B, 2.49% 8/17/2041 <sup>(d)(g)</sup>  | 323 | 300 |
| GLS Auto Receivables Trust, Series 2025-2A, Class A2, 4.75% 3/15/2028 <sup>(d)(g)</sup>  | 500 | 500 |
| GLS Auto Select Receivables Trust, Series 2024-4A, Class A2, 4.43% 12/17/2029 <sup>(d)(g)</sup>  | 902 | 902 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **123** | American Funds Insurance Series |

---

------

Asset Allocation Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** |
| GLS Auto Select Receivables Trust, Series 2025-1A, Class A2, 4.71% 4/15/2030 <sup>(d)(g)</sup>  | USD807 | $809 |
| GM Financial Automobile Leasing Trust, Series 2023-3, Class A3, 5.38% 11/20/2026 <sup>(g)</sup>  | 1004 | 1006 |
| GM Financial Revolving Receivables Trust, Series 2023-2, Class A, 5.77% 8/11/2036 <sup>(d)(g)</sup>  | 8654 | 9064 |
| GM Financial Revolving Receivables Trust, Series 2024-2, Class A, 4.52% 3/11/2037 <sup>(d)(g)</sup>  | 6768 | 6817 |
| GM Financial Securitized Term Auto Receivables Trust, Series 2024-1, Class A3, 4.85% 12/18/2028 <sup>(g)</sup>  | 2126 | 2137 |
| Hertz Vehicle Financing III, LLC, Series 2022-4A, Class A, 3.73% 9/25/2026 <sup>(d)(g)</sup>  | 3759 | 3754 |
| Hertz Vehicle Financing III, LLC, Series 2022-2A, Class A, 2.33% 6/26/2028 <sup>(d)(g)</sup>  | 4391 | 4220 |
| Hertz Vehicle Financing III, LLC, Series 2022-5A, Class A, 3.89% 9/25/2028 <sup>(d)(g)</sup>  | 4445 | 4386 |
| Hertz Vehicle Financing III, LLC, Series 2023-4, Class A, 6.15% 3/25/2030 <sup>(d)(g)</sup>  | 4585 | 4789 |
| Hertz Vehicle Financing, LLC, Series 2021-2A, Class A, 1.68% 12/27/2027 <sup>(d)(g)</sup>  | 10307 | 9917 |
| Hertz Vehicle Financing, LLC, Series 2021-2A, Class B, 2.12% 12/27/2027 <sup>(d)(g)</sup>  | 685 | 655 |
| Hertz Vehicle Financing, LLC, Series 2021-2A, Class C, 2.52% 12/27/2027 <sup>(d)(g)</sup>  | 429 | 412 |
| Hertz Vehicle Financing, LLC, Series 2024-1A, Class A, 5.44% 1/25/2029 <sup>(d)(g)</sup>  | 4771 | 4850 |
| Hertz Vehicle Financing, LLC, Series 2025-1A, Class A, 4.91% 9/25/2029 <sup>(d)(g)</sup>  | 1616 | 1624 |
| Hertz Vehicle Financing, LLC, Series 2025-3A, Class A, 5.06% 12/26/2029 <sup>(d)(g)</sup>  | 1250 | 1257 |
| Honda Auto Receivables Owner Trust, Series 2023-1, Class A3, 5.04% 4/21/2027 <sup>(g)</sup>  | 569 | 570 |
| Horizon Aircraft Finance, Series 2024-1, Class A, 5.375% 9/15/2049 <sup>(d)(g)</sup>  | 2519 | 2525 |
| Hyundai Auto Receivables Trust, Series 2024-A, Class A3, 4.99% 2/15/2029 <sup>(g)</sup>  | 3187 | 3217 |
| John Deere Owner Trust, Series 2024-A, Class A3, 4.96% 11/15/2028 <sup>(g)</sup>  | 2894 | 2922 |
| LAD Auto Receivables Trust, Series 2024-3A, Class A2, 4.64% 11/15/2027 <sup>(d)(g)</sup>  | 1581 | 1581 |
| LAD Auto Receivables Trust, Series 2023-4, Class A3, 6.10% 12/15/2027 <sup>(d)(g)</sup>  | 1422 | 1429 |
| LAD Auto Receivables Trust, Series 2024-3A, Class A3, 4.52% 3/15/2029 <sup>(d)(g)</sup>  | 954 | 957 |
| LAD Auto Receivables Trust, Series 2024-3A, Class A4, 4.60% 12/17/2029 <sup>(d)(g)</sup>  | 504 | 508 |
| Marathon CLO, Ltd., Series 2019-2A, Class A1R2, (3-month USD CME Term SOFR + 0.95%) 5.219% <br>1/20/2033 <sup>(d)(g)(h)</sup>  | 3648 | 3632 |
| Navient Education Loan Trust, Series 2025-A, Class A, 5.02% 7/15/2055 <sup>(d)(g)</sup>  | 2778 | 2796 |
| Navient Student Loan Trust, Series 2021-CA, Class A, 1.06% 10/15/2069 <sup>(d)(g)</sup>  | 2788 | 2511 |
| Navient Student Loan Trust, Series 2021-G, Class A, 1.58% 4/15/2070 <sup>(d)(g)</sup>  | 3576 | 3233 |
| Navigator Aircraft ABS, Ltd., Series 2021-1, Class A, 2.771% 11/15/2046 <sup>(d)(g)</sup>  | 4877 | 4565 |
| Nelnet Student Loan Trust, Series 2021-CA, Class AFX, 1.32% 4/20/2062 <sup>(d)(g)</sup>  | 4921 | 4604 |
| Nelnet Student Loan Trust, Series 2021-A, Class APT1, 1.36% 4/20/2062 <sup>(d)(g)</sup>  | 3087 | 2905 |
| Nelnet Student Loan Trust, Series 2021-B, Class AFX, 1.42% 4/20/2062 <sup>(d)(g)</sup>  | 5216 | 4881 |
| New Economy Assets Phase 1 Issuer, LLC, Series 2021-1, Class A1, 1.91% 10/20/2061 <sup>(d)(g)</sup>  | 23051 | 21721 |
| Newark BSL CLO 2, Ltd., Series 2017-1A, Class A1R, (3-month USD CME Term SOFR + 1.232%) 5.513% <br>7/25/2030 <sup>(d)(g)(h)</sup>  | 780 | 780 |
| Palmer Square Loan Funding, CLO, Series 2021-4A, Class A1, (3-month USD CME Term SOFR + 1.062%) <br> 5.318% 10/15/2029 <sup>(d)(g)(h)</sup>  | 627 | 626 |
| Palmer Square Loan Funding, CLO, Series 2021-4A, Class A2, (3-month USD CME Term SOFR + 1.662%) <br> 5.918% 10/15/2029 <sup>(d)(g)(h)</sup>  | 5378 | 5383 |
| Palmer Square Loan Funding, Ltd., Series 2024-2A, Class A1N, (3-month USD CME Term SOFR + 1.00%) <br> 5.256% 1/15/2033 <sup>(d)(g)(h)</sup>  | 4264 | 4257 |
| PEAC Solutions Receivables, LLC, Series 2025-1A, Class A2, 4.94% 10/20/2028 <sup>(d)(g)</sup>  | 1069 | 1073 |
| PFS Financing Corp., Series 2023-B, Class A, 5.27% 5/15/2028 <sup>(d)(g)</sup>  | 5298 | 5334 |
| PG&E Wildfire Recovery Funding, LLC, Series 2022-A, Class A2, 4.263% 6/1/2036 <sup>(g)</sup>  | 2442 | 2306 |
| PK ALIFT Loan Funding 3, LP, Series 2024-1, Class A1, 5.842% 9/15/2039 <sup>(d)(g)</sup>  | 814 | 826 |
| PK ALIFT Loan Funding 3, LP, Series 2024-1, Class AF, (1-month USD CME Term SOFR + 0%) 6.012% <br>9/15/2039 <sup>(d)(g)(h)</sup>  | 598 | 599 |
| Race Point CLO, Ltd., Series 2015-9A, Class A1A2, (3-month USD CME Term SOFR + 1.202%) 5.458% <br>10/15/2030 <sup>(d)(g)(h)</sup>  | 701 | 701 |
| Santander Drive Auto Receivables Trust, Series 2024-2, Class A2, 5.80% 9/15/2027 <sup>(g)</sup>  | 733 | 733 |
| Santander Drive Auto Receivables Trust, Series 2024-1, Class A3, 5.25% 4/17/2028 <sup>(g)</sup>  | 615 | 616 |
| Santander Drive Auto Receivables Trust, Series 2024-2, Class A3, 5.63% 11/15/2028 <sup>(g)</sup>  | 5474 | 5504 |
| Santander Drive Auto Receivables Trust, Series 2023-4, Class B, 5.77% 12/15/2028 <sup>(g)</sup>  | 5062 | 5130 |
| Santander Drive Auto Receivables Trust, Series 2024-4, Class A3, 4.85% 1/16/2029 <sup>(g)</sup>  | 5394 | 5411 |
| SBNA Auto Lease Trust, Series 2024-A, Class A3, 5.39% 11/20/2026 <sup>(d)(g)</sup>  | 3077 | 3085 |
| SBNA Auto Lease Trust, Series 2024-B, Class A2, 5.67% 11/20/2026 <sup>(d)(g)</sup>  | 249 | 250 |
| SBNA Auto Lease Trust, Series 2024-B, Class A3, 5.56% 11/22/2027 <sup>(d)(g)</sup>  | 1265 | 1276 |
| SFS Auto Receivables Securitization Trust, Series 2024-3A, Class A2, 4.71% 5/22/2028 <sup>(d)(g)</sup>  | 1598 | 1599 |
| SFS Auto Receivables Securitization Trust, Series 2023-1, Class A3, 5.47% 10/20/2028 <sup>(d)(g)</sup>  | 2864 | 2883 |
| SFS Auto Receivables Securitization Trust, Series 2025-2A, Class A2, 4.52% 11/20/2028 <sup>(d)(g)</sup>  | 504 | 505 |
| SFS Auto Receivables Securitization Trust, Series 2024-3A, Class A3, 4.55% 6/20/2030 <sup>(d)(g)</sup>  | 2966 | 2980 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **124** |

---

------

Asset Allocation Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** |
| SMB Private Education Loan Trust, Series 2021-A, Class A2A2, (1-month USD CME Term SOFR + 0.844%) <br> 5.156% 1/15/2053 <sup>(d)(g)(h)</sup>  | USD3,851 | $3823 |
| SOLRR Aircraft Aviation Holding, Ltd., Series 2021-1, Class A, 2.636% 10/15/2046 <sup>(d)(g)</sup>  | 2741 | 2557 |
| SPRITE, Ltd., Series 2021-1, Class A, 3.75% 11/15/2046 <sup>(d)(g)</sup>  | 2485 | 2404 |
| Stellar Jay Ireland DAC, Series 2021-1, Class A, 3.967% 10/15/2041 <sup>(d)(g)</sup>  | 1918 | 1881 |
| Stonepeak Infrastructure Partners, Series 2021-1A, Class AA, 2.301% 2/28/2033 <sup>(d)(g)</sup>  | 922 | 884 |
| Stonepeak Infrastructure Partners, Series 2021-1A, Class A, 2.675% 2/28/2033 <sup>(d)(g)</sup>  | 751 | 719 |
| Subway Funding, LLC, Series 2024-3, Class A2I, 5.246% 7/30/2054 <sup>(d)(g)</sup>  | 5253 | 5234 |
| Subway Funding, LLC, Series 2024-3A, Class A2II, 5.566% 7/30/2054 <sup>(d)(g)</sup>  | 6201 | 6195 |
| SuttonPark Structured Settlements, Series 2021-1, Class A, 1.95% 9/15/2075 <sup>(d)(g)</sup>  | 1421 | 1374 |
| Synchrony Card Issuance Trust, Series 2023-A, Class A, 5.54% 7/15/2029 <sup>(g)</sup>  | 2840 | 2873 |
| Synchrony Card Issuance Trust, Series 2025-A1, Class A, 4.78% 2/18/2031 <sup>(g)</sup>  | 4155 | 4223 |
| TAL Advantage V, LLC, Series 2020-1A, Class A, 2.05% 9/20/2045 <sup>(d)(g)</sup>  | 1194 | 1126 |
| Textainer Marine Containers, Ltd., Series 2020-2A, Class A, 2.10% 9/20/2045 <sup>(d)(g)</sup>  | 552 | 516 |
| Textainer Marine Containers, Ltd., Series 2021-1, Class A, 1.68% 2/20/2046 <sup>(d)(g)</sup>  | 708 | 651 |
| Textainer Marine Containers, Ltd., Series 2021-2A, Class A, 2.23% 4/20/2046 <sup>(d)(g)</sup>  | 2047 | 1911 |
| Textainer Marine Containers, Ltd., Series 2025-1H, Class A, 6.43% 7/23/2050 <sup>(d)(g)</sup>  | 2096 | 2096 |
| Thompson Park CLO, Ltd., Series 2021-1A, Class A1R, (3-month USD CME Term SOFR + 1.05%) 5.306% <br> 4/15/2034 <sup>(d)(g)(h)</sup>  | 3229 | 3225 |
| T-Mobile US Trust, Series 2024-1, Class A, 5.05% 9/20/2029 <sup>(d)(g)</sup>  | 5582 | 5628 |
| Toyota Auto Loan Extended Note Trust, Series 2021-1, Class A, 1.07% 2/27/2034 <sup>(d)(g)(h)</sup>  | 6503 | 6362 |
| Toyota Auto Receivables Owner Trust, Series 2023-C, Class A3, 5.16% 4/17/2028 <sup>(g)</sup>  | 4585 | 4610 |
| Toyota Auto Receivables Owner Trust, Series 2023-C, Class A4, 5.01% 2/15/2029 <sup>(g)</sup>  | 1822 | 1848 |
| Triton Container Finance VIII, LLC, Series 2020-1, Class A, 2.11% 9/20/2045 <sup>(d)(g)</sup>  | 7627 | 7095 |
| Triton Container Finance VIII, LLC, Series 2021-1, Class A, 1.86% 3/20/2046 <sup>(d)(g)</sup>  | 1368 | 1250 |
| United Auto Credit Securitization Trust, Series 2025-1, Class A, 4.80% 6/10/2027 <sup>(d)(g)</sup>  | 416 | 416 |
| Verdant Receivables, LLC, Series 2025-1A, Class A2, 4.85% 3/13/2028 <sup>(d)(g)</sup>  | 649 | 651 |
| Verdant Receivables, LLC, Series 2024-1, Class A2, 5.68% 12/12/2031 <sup>(d)(g)</sup>  | 1151 | 1170 |
| Verizon Master Trust, Series 2024-1, Class A1A, 5.00% 12/20/2028 <sup>(g)</sup>  | 3846 | 3854 |
| Verizon Master Trust, Series 2023-1, Class A, 4.49% 1/22/2029 (5.24% on 1/20/2026) <sup>(g)(k)</sup>  | 6704 | 6705 |
| Verizon Master Trust, Series 2024-3, Class A1A, 5.34% 4/22/2030 <sup>(g)</sup>  | 9409 | 9615 |
| Verizon Master Trust, Series 2023-3, Class A, 4.73% 4/21/2031 <sup>(d)(g)</sup>  | 8048 | 8177 |
| Verizon Master Trust., Series 24-5, Class A, 5.00% 6/21/2032 <sup>(d)(g)</sup>  | 934 | 959 |
| Volvo Financial Equipment, LLC, Series 2025-1A, Class A2, 4.41% 11/15/2027 <sup>(d)(g)</sup>  | 1928 | 1930 |
| Westlake Automobile Receivables Trust, Series 2025-1A, Class A2A, 4.66% 1/18/2028 <sup>(d)(g)</sup>  | 6044 | 6044 |
| Westlake Automobile Receivables Trust, Series 2025-P1, Class A2, 4.65% 2/15/2028 <sup>(d)(g)</sup>  | 376 | 377 |
| Westlake Automobile Receivables Trust, Series 2024-3A, Class A3, 4.71% 4/17/2028 <sup>(d)(g)</sup>  | 2142 | 2150 |
| Westlake Automobile Receivables Trust, Series 2023-3, Class B, 5.92% 9/15/2028 <sup>(d)(g)</sup>  | 2504 | 2518 |
| Westlake Automobile Receivables Trust, Series 2024-3A, Class B, 4.72% 11/15/2029 <sup>(d)(g)</sup>  | 6520 | 6537 |
| Westlake Automobile Receivables Trust, Series 2025-1A, Class C, 5.14% 10/15/2030 <sup>(d)(g)</sup>  | 1973 | 2001 |
| Wingspire Equipment Finance, LLC, Series 2024-1A, Class A2, 4.99% 9/20/2032 <sup>(d)(g)</sup>  | 572 | 573 |
| World Financial Network Credit Card Master Trust, Series 2023-A, Class A, 5.02% 3/15/2030 <sup>(g)</sup>  | 7030 | 7067 |
| World OMNI Select Auto Trust, Series 2024-A, Class A2A, 5.37% 2/15/2028 <sup>(g)</sup>  | 2254 | 2259 |
| World OMNI Select Auto Trust, Series 2024-A, Class A3, 4.98% 2/15/2030 <sup>(g)</sup>  | 4623 | 4649 |
|  |  | 567592 |
| **Bonds & notes of governments & government agencies outside the U.S. 0.13%** | **Bonds & notes of governments & government agencies outside the U.S. 0.13%** | **Bonds & notes of governments & government agencies outside the U.S. 0.13%** |
| CPPIB Capital, Inc. 2.75% 11/2/2027 <sup>(d)</sup>  | 5914 | 5770 |
| OMERS Finance Trust 3.50% 4/19/2032 <sup>(d)</sup>  | 3867 | 3668 |
| OMERS Finance Trust 4.00% 4/19/2052 <sup>(d)</sup>  | 3867 | 3002 |
| Panama (Republic of) 7.50% 3/1/2031  | 1765 | 1882 |
| Panama (Republic of) 2.252% 9/29/2032  | 4306 | 3297 |
| Peru (Republic of) 1.862% 12/1/2032  | 2525 | 2018 |
| Peru (Republic of) 5.875% 8/8/2054  | 2310 | 2234 |
| Peru (Republic of) 2.78% 12/1/2060  | 3383 | 1826 |
| Qatar (State of) 4.00% 3/14/2029 <sup>(d)</sup>  | 745 | 740 |
| Qatar (State of) 4.817% 3/14/2049 <sup>(d)</sup>  | 750 | 674 |
| United Mexican States 4.75% 4/27/2032  | 2305 | 2195 |
| United Mexican States 3.50% 2/12/2034  | 1790 | 1507 |
| United Mexican States 6.875% 5/13/2037  | 2720 | 2844 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **125** | American Funds Insurance Series |

---

------

Asset Allocation Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Bonds & notes of governments & government agencies outside the U.S. (continued)** | **Bonds & notes of governments & government agencies outside the U.S. (continued)** | **Bonds & notes of governments & government agencies outside the U.S. (continued)** |
| United Mexican States 6.625% 1/29/2038  | USD200 | $203 |
| United Mexican States 7.375% 5/13/2055  | 4235 | 4382 |
| United Mexican States 3.771% 5/24/2061  | 1528 | 906 |
|  |  | 37148 |
| **Municipals 0.08%** | **Municipals 0.08%** | **Municipals 0.08%** |
| **Florida 0.03%** |  |  |
| Board of Administration Fin. Corp., Rev. Bonds, Series 2020-A, 1.705% 7/1/2027  | 4781 | 4556 |
| Board of Administration Fin. Corp., Rev. Bonds, Series 2020-A, 2.154% 7/1/2030  | 4808 | 4306 |
|  |  | 8862 |
| **Illinois 0.01%** |  |  |
| GO Bonds, Pension Funding, Series 2003, 5.10% 6/1/2033  | 3140 | 3158 |
| **Ohio 0.02%** |  |  |
| Cleveland-Cuyahoga Port Auth., Federal Lease Rev. Bonds (VA Cleveland Health Care Center Project), <br> Series 2021, 4.425% 5/1/2031  | 4960 | 4424 |
| **Puerto Rico 0.00%** |  |  |
| GO Taxable Bonds, CAB, Series 2022, 0% 11/1/2051  | 451 | 285 |
| **Wisconsin 0.02%** |  |  |
| Public Fin. Auth., Federal Lease Rev. Bonds (Fort Sam Acquisition Fncg.), Series 2022, 4.95% 3/1/2034  | 5765 | 5638 |
| **Total municipals** |  | 22367 |
| **Total bonds, notes & other debt instruments** (cost: $7,551,950,000) |  | 7461895 |
| Investment funds 2.79% | Shares |  |
| Capital Group Central Corporate Bond Fund <sup>(q)</sup>  | 91567012 | 772826 |
| **Total Investment funds** (cost: $797,018,000) |  | 772826 |
| Short-term securities 4.79% |  |  |
| **Money market investments 4.78%** | **Money market investments 4.78%** | **Money market investments 4.78%** |
| Capital Group Central Cash Fund 4.35% <sup>(q)(r)</sup>  | 13235020 | 1323502 |
| **Money market investments purchased with collateral from securities on loan 0.01%** | **Money market investments purchased with collateral from securities on loan 0.01%** | **Money market investments purchased with collateral from securities on loan 0.01%** |
| Invesco Short-Term Investments Trust – Government & Agency Portfolio, Institutional Class 4.26% <sup>(r)(s)</sup>  | 2117436 | 2118 |
| **Total short-term securities** (cost: $1,325,460,000) |  | 1325620 |
| **Total investment securities 101.82%** (cost: $20,537,102,000) |  | 28178616 |
| Other assets less liabilities (1.82)% |  | (503035)<br>|
| **Net assets 100.00%** |  | $27675581 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **126** |

---

------

Asset Allocation Fund (continued)

**Futures contracts**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Contracts | Type | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value and <br>unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| 2 Year U.S. Treasury Note Futures | Long | 6165 | 10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD1,282,465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $5037 |
| 5 Year U.S. Treasury Note Futures | Long | 7067 | 10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 770303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8745 |
| 10 Year U.S. Treasury Note Futures | Long | 3299 | 9/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 369900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7122 |
| 10 Year Ultra U.S. Treasury Note Futures | Short | 995 | 9/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (113694)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2796)<br>|
| 20 Year U.S. Treasury Bond Futures | Long | 841 | 9/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 97109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3355 |
| 30 Year Ultra U.S. Treasury Bond Futures | Short | 624 | 9/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (74334)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2725)<br>|
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $18738 |

---

**Swap contracts**

------

**Interest rate swaps**

**Centrally cleared interest rate swaps**

**Centrally cleared credit default swaps on credit indices — buy protection** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Reference <br>index<br>| &nbsp;&nbsp;&nbsp;&nbsp; Financing <br>rate paid<br>| &nbsp;&nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| &nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Value at <br>6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Upfront <br>premium <br>paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(received) <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| CDX.NA.IG.44 | 1.00% | Quarterly | &nbsp;&nbsp;&nbsp;&nbsp; 6/20/2030 | &nbsp;&nbsp;&nbsp;&nbsp; USD9,557 | &nbsp;&nbsp;&nbsp;&nbsp; $(211)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(189)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(22)<br>|
| CDX.NA.HY.44 | 5.00% | Quarterly | &nbsp;&nbsp;&nbsp;&nbsp; 6/20/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 68375 | &nbsp;&nbsp;&nbsp;&nbsp; (5132)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (4294)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (838)<br>|
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; $(5343)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(4483)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(860)<br>|

---

**Investments in affiliates** <sup>(q)</sup>

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>1/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>6/30/2025 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Investment funds 2.79%** |  |  |  |  |  |  |  |
| Capital Group Central Corporate Bond Fund  | $1368034 | &nbsp;&nbsp; $28182 | &nbsp;&nbsp; $634717 | &nbsp;&nbsp; $(136730)<br>| &nbsp;&nbsp; $148057 | &nbsp;&nbsp; $772826 | &nbsp;&nbsp; $28182 |
| **Short-term securities 4.78%** |  |  |  |  |  |  |  |
| **Money market investments 4.78%** |  |  |  |  |  |  |  |
| Capital Group Central Cash Fund 4.35% <sup>(r)</sup>  | 855747 | &nbsp;&nbsp; 3621866 | &nbsp;&nbsp; 3154023 | &nbsp;&nbsp; (32)<br>| &nbsp;&nbsp; (56)<br>| &nbsp;&nbsp; 1323502 | &nbsp;&nbsp; 29602 |
| **Total 7.57%** |  |  |  | &nbsp;&nbsp; $(136762)<br>| &nbsp;&nbsp; $148001 | &nbsp;&nbsp; $2096328 | &nbsp;&nbsp; $57784 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **127** | American Funds Insurance Series |

---

------

Asset Allocation Fund (continued)

**Restricted securities** <sup>(e)</sup>

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Acquisition <br>date(s)<br>| Cost <br>(000)<br>| Value <br>(000)<br>| Percent <br>of net <br>assets<br>|
| Rotech Healthcare, Inc. <sup>(a)(b)</sup> <br>| 8/22/2014 | $6949 | $13864 | 0.05<br> %<br>|
| Finastra USA, Inc., Term Loan B, (3-month USD CME Term SOFR <br> + 7.25%) 11.428% 9/13/2029 <sup>(h)(l)</sup> <br>| 9/13/2023 | 2573 | 2633 | 0.01 |
| Finastra USA, Inc., Term Loan, (3-month USD CME Term SOFR + <br> 7.25%) 11.428% 9/13/2029 <sup>(h)(l)</sup> <br>| 9/13/2023-6/13/2025 | 55 | 55 | 0.00 <br><sup>(t)</sup><br>|
| Wolfspeed, Inc. 2.00% PIK and 9.875% Cash 6/23/2030 <br> (13.875% on 6/22/2026) <sup>(k)(n)</sup> <br>| 6/23/2023-3/24/2025 | 992 | 1026 | 0.00 <br><sup>(t)</sup><br>|
| Wolfspeed, Inc. 2.00% PIK and 9.875% Cash 6/23/2030 <br> (13.875% on 6/23/2026) <sup>(k)(n)</sup> <br>| 10/22/2024-3/24/2025 | 326 | 340 | 0.00 <br><sup>(t)</sup><br>|
| **Total** |  | $10895 | $17918 | 0.06<br> %<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Security did not produce income during the last 12 months.

<sup>(b)</sup> Value determined using significant unobservable inputs.

<sup>(c)</sup> Amount less than one thousand.

<sup>(d)</sup> Acquired in a transaction exempt from registration under Rule 144A or, for commercial paper, Section 4(a)(2) of the Securities Act of 1933. May be resold in the U.S. in transactions exempt from registration, normally to qualified institutional buyers. The total value of all such securities was $1,496,397,000, which represented 5.41% of the net assets of the fund. 

<sup>(e)</sup> Restricted security, other than Rule 144A securities or commercial paper issued pursuant to Section 4(a)(2) of the Securities Act of 1933. The total value of all such restricted securities was $17,918,000, which represented 0.06% of the net assets of the fund. 

<sup>(f)</sup> All or a portion of this security was on loan. The total value of all such securities was $2,306,000, which represented 0.01% of the net assets of the fund. Refer to Note 5 for more information on securities lending. 

<sup>(g)</sup> Principal payments may be made periodically. Therefore, the effective maturity date may be earlier than the stated maturity date.

<sup>(h)</sup> Coupon rate may change periodically. Reference rate and spread are as of the most recent information available. Some coupon rates are determined by the issuer or agent based on current market conditions; therefore, the reference rate and spread are not available. 

<sup>(i)</sup> All or a portion of this security was pledged as collateral. The total value of pledged collateral was $25,924,000, which represented 0.09% of the net assets of the fund. 

<sup>(j)</sup> Represents securities transacted on a TBA basis.

<sup>(k)</sup> Step bond; coupon rate may change at a later date.

<sup>(l)</sup> Loan participations and assignments; may be subject to legal or contractual restrictions on resale. The total value of all such loans was $42,505,000, which represented 0.15% of the net assets of the fund. 

<sup>(m)</sup> Securities referencing LIBOR are expected to transition to an alternative reference rate by the security's next scheduled coupon reset date.

<sup>(n)</sup> Payment in kind; the issuer has the option of paying additional securities in lieu of cash. Payment methods and rates are as of the most recent payment when available. 

<sup>(o)</sup> Scheduled interest and/or principal payment was not received.

<sup>(p)</sup> Index-linked bond whose principal amount moves with a government price index. 

<sup>(q)</sup> Part of the same "group of investment companies" as the fund as defined under the Investment Company Act of 1940, as amended.

<sup>(r)</sup> Rate represents the seven-day yield at 6/30/2025.

<sup>(s)</sup> Security purchased with cash collateral from securities on loan. Refer to Note 5 for more information on securities lending.

<sup>(t)</sup> Amount less than 0.01%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **Key to abbreviation(s)** |
| ADR = American Depositary Receipts |
| Assn. = Association |
| Auth. = Authority |
| CAB = Capital Appreciation Bonds |
| CAD = Canadian dollars |
| CLO = Collateralized Loan Obligations |
| CME = CME Group |
| CMO = Collateralized Mortgage Obligations |
| CMS = Constant Maturity Swap |
| DAC = Designated Activity Company |
| EUR = Euros |
| Fin. = Finance |

---

---

| |
|:---|
| Fncg. = Financing |
| GBP = British pounds |
| GO = General Obligation |
| LIBOR = London Interbank Offered Rate |
| NDR = Norwegian Depositary Receipts |
| PIK = Payment In Kind |
| REIT = Real Estate Investment Trust |
| Rev. = Revenue |
| SOFR = Secured Overnight Financing Rate |
| TBA = To be announced |
| USD = U.S. dollars |
| UST = U.S. Treasury |

---

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **128** |

---

------

American Funds Global Balanced Fund

**Investment portfolio** June 30, 2025unaudited

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Common stocks 61.95% | Shares | Value<br> (000)<br>|
| **Information technology 10.64%** |  |  |
| Broadcom, Inc.  | 40394 | $11135 |
| Microsoft Corp.  | 21644 | 10766 |
| NVIDIA Corp.  | 47330 | 7478 |
| Taiwan Semiconductor Manufacturing Co., Ltd.  | 201000 | 7294 |
| Accenture PLC, Class A  | 7800 | 2331 |
| Apple, Inc.  | 9047 | 1856 |
| Microchip Technology, Inc.  | 22545 | 1586 |
| ASML Holding NV  | 1857 | 1482 |
| Arista Networks, Inc. <sup>(a)</sup>  | 5876 | 601 |
|  |  | 44529 |
| **Financials 10.09%** |  |  |
| B3 SA - Brasil, Bolsa, Balcao  | 1852727 | 4972 |
| Banco Bilbao Vizcaya Argentaria SA  | 263394 | 4051 |
| ING Groep NV  | 155027 | 3401 |
| Chubb, Ltd.  | 10959 | 3175 |
| Marsh & McLennan Cos., Inc.  | 14131 | 3090 |
| Standard Chartered PLC  | 156968 | 2601 |
| Munchener Ruckversicherungs-Gesellschaft AG  | 3868 | 2509 |
| HDFC Bank, Ltd. (ADR)  | 25481 | 1954 |
| HDFC Bank, Ltd.  | 23358 | 545 |
| BlackRock, Inc.  | 1894 | 1987 |
| JPMorgan Chase & Co.  | 6668 | 1933 |
| Zurich Insurance Group AG  | 2524 | 1764 |
| Morgan Stanley  | 10945 | 1542 |
| BNP Paribas SA  | 11060 | 994 |
| Swiss Re AG  | 5574 | 964 |
| Mizuho Financial Group, Inc.  | 34600 | 959 |
| Capital One Financial Corp.  | 4389 | 934 |
| NatWest Group PLC  | 131775 | 925 |
| AIA Group, Ltd.  | 74200 | 665 |
| Progressive Corp.  | 2416 | 645 |
| Great-West Lifeco, Inc.  | 16064 | 611 |
| Goldman Sachs Group, Inc.  | 782 | 553 |
| UniCredit SpA  | 7995 | 536 |
| 3i Group PLC  | 9121 | 516 |
| Hannover Rück SE  | 1272 | 400 |
|  |  | 42226 |
| **Industrials 8.60%** |  |  |
| RTX Corp.  | 55837 | 8153 |
| Volvo AB, Class B  | 92975 | 2608 |
| General Dynamics Corp.  | 8071 | 2354 |
| Airbus SE, non-registered shares  | 11225 | 2344 |
| BAE Systems PLC  | 86701 | 2245 |
| Uber Technologies, Inc. <sup>(a)</sup>  | 20402 | 1903 |
| Daikin Industries, Ltd.  | 14400 | 1702 |
| Deutsche Post AG  | 36092 | 1667 |
| IHI Corp.  | 14483 | 1573 |
| Carrier Global Corp.  | 20453 | 1497 |
| Safran SA  | 4408 | 1433 |
| nVent Electric PLC  | 18043 | 1322 |
| CSX Corp.  | 32703 | 1067 |
| Melrose Industries PLC  | 108484 | 790 |
| Rolls-Royce Holdings PLC  | 59127 | 785 |
| TransDigm Group, Inc.  | 480 | 730 |
| PACCAR, Inc.  | 5817 | 553 |
| United Rentals, Inc.  | 708 | 533 |
| General Electric Co.  | 1980 | 510 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **129** | American Funds Insurance Series |

---

------

American Funds Global Balanced Fund (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Industrials (continued)** |  |  |
| Caterpillar, Inc.  | 1262 | $490 |
| Waste Management, Inc.  | 2046 | 468 |
| L3Harris Technologies, Inc.  | 1800 | 452 |
| AtkinsRealis Group, Inc.  | 6127 | 430 |
| Boeing Co. (The) <sup>(a)</sup>  | 1845 | 387 |
|  |  | 35996 |
| **Health care 8.15%** |  |  |
| Eli Lilly and Co.  | 6479 | 5051 |
| Sanofi  | 48529 | 4699 |
| Abbott Laboratories  | 29693 | 4038 |
| Vertex Pharmaceuticals, Inc. <sup>(a)</sup>  | 8449 | 3761 |
| Gilead Sciences, Inc.  | 33630 | 3729 |
| Novo Nordisk AS, Class B  | 50903 | 3533 |
| Medtronic PLC  | 19325 | 1685 |
| Stryker Corp.  | 3483 | 1378 |
| Alnylam Pharmaceuticals, Inc. <sup>(a)</sup>  | 4063 | 1325 |
| Molina Healthcare, Inc. <sup>(a)</sup>  | 3573 | 1064 |
| AbbVie, Inc.  | 5172 | 960 |
| UnitedHealth Group, Inc.  | 2675 | 834 |
| Novartis AG  | 3976 | 482 |
| Takeda Pharmaceutical Co., Ltd.  | 14500 | 446 |
| GE HealthCare Technologies, Inc.  | 5321 | 394 |
| AstraZeneca PLC  | 2821 | 392 |
| BioMarin Pharmaceutical, Inc. <sup>(a)</sup>  | 5924 | 326 |
|  |  | 34097 |
| **Communication services 5.15%** |  |  |
| Meta Platforms, Inc., Class A  | 12920 | 9536 |
| Alphabet, Inc., Class A  | 16320 | 2876 |
| Alphabet, Inc., Class C  | 6975 | 1237 |
| AT&T, Inc.  | 117836 | 3410 |
| Netflix, Inc. <sup>(a)</sup>  | 917 | 1228 |
| Deutsche Telekom AG  | 25673 | 937 |
| Comcast Corp., Class A  | 23470 | 838 |
| Omnicom Group, Inc.  | 8961 | 645 |
| Universal Music Group NV  | 13386 | 433 |
| SoftBank Group Corp.  | 5500 | 402 |
|  |  | 21542 |
| **Consumer discretionary 4.68%** |  |  |
| Amazon.com, Inc. <sup>(a)</sup>  | 24589 | 5395 |
| Ferrari NV  | 3418 | 1677 |
| Ferrari NV (EUR denominated)  | 739 | 362 |
| Las Vegas Sands Corp.  | 43437 | 1890 |
| adidas AG  | 7746 | 1806 |
| Starbucks Corp.  | 18930 | 1734 |
| LVMH Moet Hennessy-Louis Vuitton SE  | 3082 | 1614 |
| Compagnie Financiere Richemont SA, Class A  | 6583 | 1240 |
| Midea Group Co., Ltd., Class A  | 119450 | 1204 |
| Royal Caribbean Cruises, Ltd.  | 3643 | 1141 |
| Sony Group Corp.  | 27900 | 723 |
| Viking Holdings, Ltd. <sup>(a)</sup>  | 8985 | 479 |
| Hasbro, Inc.  | 4685 | 346 |
|  |  | 19611 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **130** |

---

------

American Funds Global Balanced Fund (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Consumer staples 4.34%** |  |  |
| Philip Morris International, Inc.  | 27539 | $5016 |
| Imperial Brands PLC  | 109428 | 4321 |
| British American Tobacco PLC  | 74366 | 3535 |
| ITC, Ltd.  | 568184 | 2759 |
| Nestle SA  | 9977 | 991 |
| Sysco Corp.  | 10532 | 798 |
| Suntory Beverage & Food, Ltd.  | 24000 | 768 |
|  |  | 18188 |
| **Materials 4.18%** |  |  |
| Freeport-McMoRan, Inc.  | 93947 | 4073 |
| Vale SA, ordinary nominative shares  | 272884 | 2644 |
| Vale SA (ADR), ordinary nominative shares  | 56123 | 545 |
| Nitto Denko Corp.  | 145300 | 2817 |
| Lundin Gold, Inc.  | 37546 | 1982 |
| Air Products and Chemicals, Inc.  | 4709 | 1328 |
| Smurfit Westrock PLC  | 26077 | 1125 |
| International Paper Co.  | 23245 | 1089 |
| Rio Tinto PLC  | 9962 | 581 |
| Franco-Nevada Corp. (CAD denominated)  | 3358 | 551 |
| Air Liquide SA  | 2444 | 504 |
| Celanese Corp.  | 4784 | 265 |
|  |  | 17504 |
| **Utilities 3.13%** |  |  |
| E.ON SE  | 135349 | 2491 |
| DTE Energy Co.  | 15885 | 2104 |
| Duke Energy Corp.  | 14304 | 1688 |
| Constellation Energy Corp.  | 5203 | 1679 |
| SembCorp Industries, Ltd.  | 284900 | 1535 |
| Dominion Energy, Inc.  | 23269 | 1315 |
| Pinnacle West Capital Corp.  | 12840 | 1149 |
| PG&E Corp.  | 80544 | 1123 |
|  |  | 13084 |
| **Energy 2.30%** |  |  |
| Canadian Natural Resources, Ltd. (CAD denominated)  | 159193 | 5003 |
| Shell PLC (GBP denominated)  | 46723 | 1638 |
| TC Energy Corp. (CAD denominated) <sup>(b)</sup>  | 30769 | 1502 |
| Chevron Corp.  | 7037 | 1008 |
| Cameco Corp. (CAD denominated)  | 6626 | 492 |
|  |  | 9643 |
| **Real estate 0.69%** |  |  |
| CTP NV  | 96586 | 2030 |
| Embassy Office Parks REIT  | 187528 | 851 |
|  |  | 2881 |
| **Total common stocks** (cost: $181,462,000) |  | 259301 |
| Convertible stocks 0.62% |  |  |
| **Financials 0.33%** |  |  |
| Apollo Global Management, Inc., Class A, cumulative convertible preferred shares, 6.75% 7/31/2026  | 18365 | 1375 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **131** | American Funds Insurance Series |

---

------

American Funds Global Balanced Fund (continued)

---

| | | |
|:---|:---|:---|
| Convertible stocks (continued) | Shares | Value<br> (000)<br>|
| **Utilities 0.29%** |  |  |
| NextEra Energy, Inc., convertible preferred shares, 7.234% 11/1/2027  | 27600 | $1221 |
| **Total convertible stocks** (cost: $2,727,000) |  | 2596 |
| Bonds, notes & other debt instruments 31.20% | Principal amount<br> (000)<br>|  |
| **Bonds & notes of governments & government agencies outside the U.S. 13.98%** | **Bonds & notes of governments & government agencies outside the U.S. 13.98%** | **Bonds & notes of governments & government agencies outside the U.S. 13.98%** |
| Agricultural Development Bank of China 3.75% 1/25/2029  | CNY550 | 82 |
| Asian Development Bank 6.72% 2/8/2028  | INR18,000 | 212 |
| Australia (Commonwealth of), Series 157, 1.50% 6/21/2031  | AUD115 | 67 |
| Australia (Commonwealth of), Series 166, 3.00% 11/21/2033  | 725 | 443 |
| Australia (Commonwealth of), Series 167, 3.75% 5/21/2034  | 700 | 450 |
| Austria (Republic of) 0% 2/20/2031  | EUR500 | 512 |
| Austria (Republic of) 2.90% 2/20/2034  | 120 | 142 |
| Belgium (Kingdom of), Series 97, 3.00% 6/22/2033  | 270 | 321 |
| Brazil (Federative Republic of) 10.00% 1/1/2029  | BRL2,230 | 377 |
| Brazil (Federative Republic of) 10.00% 1/1/2031  | 12103 | 1956 |
| Brazil (Federative Republic of) 10.00% 1/1/2035  | 5535 | 841 |
| Brazil (Federative Republic of) 6.00% 8/15/2040 <sup>(c)</sup>  | 226 | 38 |
| Brazil (Federative Republic of) 6.00% 8/15/2050 <sup>(c)</sup>  | 1633 | 267 |
| Brazil (Federative Republic of) 6.00% 8/15/2060 <sup>(c)</sup>  | 226 | 36 |
| Bulgaria (Republic of) 4.50% 1/27/2033  | EUR120 | 154 |
| Canada (Government) 0.25% 3/1/2026  | CAD246 | 178 |
| Canada (Government) 3.50% 3/1/2028  | 1119 | 839 |
| Canada (Government) 1.50% 12/1/2031  | 1040 | 697 |
| Chile (Republic of) 4.70% 9/1/2030  | CLP55,000 | 57 |
| China (People's Republic of), Series INBK, 1.65% 5/15/2035  | CNY3,980 | 553 |
| China (People's Republic of), Series INBK, 2.64% 1/15/2028  | 4100 | 590 |
| China (People's Republic of), Series INBK, 2.37% 1/15/2029  | 3860 | 556 |
| China (People's Republic of), Series INBK, 2.62% 6/25/2030  | 1970 | 290 |
| China (People's Republic of), Series INBK, 2.88% 2/25/2033  | 2870 | 437 |
| China (People's Republic of), Series INBK, 2.27% 5/25/2034  | 2410 | 353 |
| China (People's Republic of), Series INBK, 3.00% 10/15/2053  | 360 | 62 |
| China (People's Republic of), Series INBK, 1.92% 1/15/2055  | 1520 | 213 |
| China Development Bank Corp., Series 2004, 3.43% 1/14/2027  | 1060 | 152 |
| China Development Bank Corp., Series 2009, 3.39% 7/10/2027  | 8580 | 1240 |
| China Development Bank Corp., Series 1805, 4.88% 2/9/2028  | 2040 | 309 |
| Colombia (Republic of) 3.125% 4/15/2031  | USD200 | 165 |
| Estonia (Republic of) 3.25% 1/17/2034  | EUR160 | 190 |
| European Bank for Reconstruction and Development 5.25% 1/12/2027  | INR10,100 | 116 |
| European Bank for Reconstruction and Development 6.30% 10/26/2027  | 4300 | 50 |
| European Bank for Reconstruction and Development 6.75% 1/13/2032  | 55400 | 653 |
| European Investment Bank 0.375% 9/15/2027  | EUR110 | 125 |
| European Investment Bank 6.95% 3/1/2029  | INR5,700 | 67 |
| European Investment Bank 0.25% 1/20/2032  | EUR860 | 870 |
| European Investment Bank 7.40% 10/23/2033  | INR19,300 | 237 |
| European Investment Bank 2.875% 1/15/2035  | EUR45 | 53 |
| European Union 3.375% 10/4/2039  | 40 | 47 |
| Export-Import Bank of Thailand 5.354% 5/16/2029  | USD200 | 206 |
| French Republic O.A.T. 0.75% 2/25/2028  | EUR410 | 466 |
| French Republic O.A.T. 0% 11/25/2030  | 1320 | 1353 |
| French Republic O.A.T. 2.00% 11/25/2032  | 610 | 675 |
| French Republic O.A.T. 3.25% 5/25/2045  | 160 | 175 |
| French Republic O.A.T. 3.75% 5/25/2056  | 295 | 329 |
| Germany (Federal Republic of) 0% 8/15/2030  | 3775 | 3988 |
| Germany (Federal Republic of) 0% 2/15/2032  | 540 | 546 |
| Germany (Federal Republic of) 1.70% 8/15/2032  | 674 | 760 |
| Germany (Federal Republic of) 2.30% 2/15/2033  | 300 | 351 |
| Germany (Federal Republic of) 2.50% 2/15/2035  | 730 | 853 |
| Germany (Federal Republic of) 1.00% 5/15/2038  | 180 | 171 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **132** |

---

------

American Funds Global Balanced Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Bonds & notes of governments & government agencies outside the U.S. (continued)** | **Bonds & notes of governments & government agencies outside the U.S. (continued)** | **Bonds & notes of governments & government agencies outside the U.S. (continued)** |
| Germany (Federal Republic of) 0% 8/15/2050  | EUR300 | $167 |
| Germany (Federal Republic of) 0% 8/15/2052  | 80 | 42 |
| Greece (Hellenic Republic of) 3.875% 6/15/2028  | 65 | 80 |
| Greece (Hellenic Republic of) 1.50% 6/18/2030  | 90 | 101 |
| Greece (Hellenic Republic of) 1.75% 6/18/2032  | 530 | 579 |
| Indonesia (Republic of), Series 71, 9.00% 3/15/2029  | IDR2,030,000 | 136 |
| Indonesia (Republic of), Series 78, 8.25% 5/15/2029  | 2263000 | 149 |
| Indonesia (Republic of), Series 87, 6.50% 2/15/2031  | 1253000 | 77 |
| Indonesia (Republic of), Series 96, 7.00% 2/15/2033  | 2543000 | 160 |
| Indonesia (Republic of), Series FR100, 6.625% 2/15/2034  | 1026000 | 63 |
| Inter-American Development Bank 7.00% 1/25/2029  | INR22,000 | 260 |
| International Bank for Reconstruction and Development 6.75% 9/8/2027  | 15800 | 186 |
| International Bank for Reconstruction and Development 6.75% 7/13/2029  | 16200 | 191 |
| Ireland (Republic of) 2.60% 10/18/2034  | EUR100 | 115 |
| Ireland (Republic of) 3.00% 10/18/2043  | 150 | 168 |
| Italy (Republic of) 1.35% 4/1/2030  | 250 | 279 |
| Italy (Republic of) 4.40% 5/1/2033  | 10 | 13 |
| Italy (Republic of) 4.35% 11/1/2033  | 740 | 945 |
| Italy (Republic of) 4.20% 3/1/2034  | 900 | 1137 |
| Italy (Republic of) 3.65% 8/1/2035  | 795 | 954 |
| Italy (Republic of) 4.50% 10/1/2053  | 210 | 257 |
| Italy (Republic of) 4.30% 10/1/2054  | 200 | 236 |
| Japan, Series 150, 0.005% 12/20/2026  | JPY84,950 | 584 |
| Japan, Series 346, 0.10% 3/20/2027  | 134150 | 922 |
| Japan, Series 352, 0.10% 9/20/2028  | 30650 | 208 |
| Japan, Series 358, 0.10% 3/20/2030  | 37400 | 249 |
| Japan, Series 363, 0.10% 6/20/2031  | 10500 | 69 |
| Japan, Series 373, 0.60% 12/20/2033  | 55750 | 366 |
| Japan, Series 152, 1.20% 3/20/2035  | 434000 | 2952 |
| Japan, Series 173, 0.40% 6/20/2040  | 50350 | 277 |
| Japan, Series 176, 0.50% 3/20/2041  | 109950 | 602 |
| Japan, Series 179, 0.50% 12/20/2041  | 50500 | 271 |
| Japan, Series 42, 1.70% 3/20/2044  | 59400 | 375 |
| Japan, Series 192, 2.40% 3/20/2045  | 487500 | 3410 |
| Japan, Series 37, 0.60% 6/20/2050  | 26950 | 118 |
| Japan, Series 74, 1.00% 3/20/2052  | 84000 | 393 |
| Japan, Series 76, 1.40% 9/20/2052  | 41100 | 212 |
| Japan, Series 77, 1.60% 12/20/2052  | 99700 | 539 |
| Japan, Series 84, 2.10% 9/20/2054  | 82450 | 492 |
| Magyar Export-Import Bank 6.00% 5/16/2029  | EUR100 | 127 |
| Malaysia (Federation of), Series 0419, 3.828% 7/5/2034  | MYR3,466 | 843 |
| Malaysia (Federation of), Series 0124, 4.054% 4/18/2039  | 601 | 148 |
| Malaysia (Federation of), Series 0221, 4.417% 9/30/2041  | 180 | 46 |
| Malaysia (Federation of), Series 0223, 4.291% 8/14/2043  | 653 | 165 |
| Malaysia (Federation of), Series 0224, 4.18% 5/16/2044  | 1307 | 327 |
| Malaysia (Federation of), Series 0417, 4.895% 5/8/2047  | 93 | 25 |
| Netherlands (Kingdom of the) 5.50% 1/15/2028  | EUR100 | 128 |
| New South Wales Treasury Corp. 4.75% 2/20/2035  | AUD400 | 263 |
| New South Wales Treasury Corp. 4.25% 2/20/2036  | 670 | 416 |
| Norway (Kingdom of) 1.75% 9/6/2029  | NOK735 | 68 |
| Norway (Kingdom of) 3.75% 6/12/2035  | 2460 | 243 |
| Nova Scotia (Province of) 3.15% 12/1/2051  | CAD170 | 98 |
| Panama (Republic of) 7.50% 3/1/2031  | USD200 | 213 |
| Panama (Republic of) 6.40% 2/14/2035  | 200 | 195 |
| Philippines (Republic of) 0.875% 5/17/2027  | EUR110 | 126 |
| Poland (Republic of), Series 1029, 2.75% 10/25/2029  | PLN410 | 105 |
| Portugal (Republic of) 0.475% 10/18/2030  | EUR50 | 53 |
| Portugal (Republic of) 3.375% 6/15/2040  | 195 | 227 |
| Province of Ontario 3.25% 7/3/2035  | 100 | 118 |
| Quebec (Province of) 3.35% 7/23/2039  | 190 | 219 |
| Romania 2.125% 3/7/2028  | 130 | 148 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **133** | American Funds Insurance Series |

---

------

American Funds Global Balanced Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Bonds & notes of governments & government agencies outside the U.S. (continued)** | **Bonds & notes of governments & government agencies outside the U.S. (continued)** | **Bonds & notes of governments & government agencies outside the U.S. (continued)** |
| South Africa (Republic of), Series R-214, 6.50% 2/28/2041  | ZAR4,235 | $162 |
| South Korea (Republic of), Series 2712, 2.375% 12/10/2027  | KRW348,590 | 258 |
| South Korea (Republic of), Series 3212, 4.25% 12/10/2032  | 1830410 | 1493 |
| Spain (Kingdom of) 0% 1/31/2027  | EUR335 | 383 |
| Spain (Kingdom of) 0.80% 7/30/2027  | 490 | 563 |
| Spain (Kingdom of) 0.50% 10/31/2031  | 165 | 170 |
| Spain (Kingdom of) 3.15% 4/30/2033  | 317 | 380 |
| Spain (Kingdom of) 3.55% 10/31/2033  | 370 | 454 |
| Spain (Kingdom of) 3.25% 4/30/2034  | 120 | 143 |
| Spain (Kingdom of) 3.45% 10/31/2034  | 240 | 290 |
| Turkey (Republic of) 7.125% 7/17/2032  | USD200 | 200 |
| United Kingdom 1.25% 7/22/2027  | GBP410 | 536 |
| United Kingdom 0.375% 10/22/2030  | 210 | 241 |
| United Kingdom 1.00% 1/31/2032  | 750 | 848 |
| United Kingdom 4.25% 6/7/2032  | 785 | 1087 |
| United Kingdom 3.25% 1/31/2033  | 140 | 180 |
| United Kingdom 3.25% 1/22/2044  | 644 | 686 |
| United Kingdom 1.25% 7/31/2051  | 413 | 248 |
| United Kingdom 4.375% 7/31/2054  | 205 | 244 |
| United Kingdom 2.50% 7/22/2065  | 340 | 259 |
| United Mexican States 6.875% 5/13/2037  | USD200 | 209 |
| United Mexican States, Series M, 5.75% 3/5/2026  | MXN10,710 | 561 |
| United Mexican States, Series M, 8.00% 11/7/2047  | 5120 | 227 |
| United Mexican States, Series M, 8.00% 7/31/2053  | 26580 | 1166 |
| United Mexican States, Series S, 4.00% 10/29/2054 <sup>(c)</sup>  | 533 | 25 |
|  |  | 58518 |
| **Corporate bonds, notes & loans 6.14%** | **Corporate bonds, notes & loans 6.14%** | **Corporate bonds, notes & loans 6.14%** |
| **Financials 1.59%** |  |  |
| 200 Park Funding Trust 5.74% 2/15/2055 <sup>(d)</sup>  | USD100 | 99 |
| AIA Group, Ltd. 0.88% 9/9/2033 (5-year EUR Mid-Swap + 1.10% on 9/9/2028) <sup>(e)</sup>  | EUR330 | 360 |
| AIB Group PLC 7.583% 10/14/2026 (USD-SOFR + 3.456% on 10/14/2025) <sup>(d)(e)</sup>  | USD200 | 202 |
| AIB Group PLC 5.75% 2/16/2029 (1-year EUR Mid-Swap + 2.85% on 2/16/2028) <sup>(e)</sup>  | EUR200 | 254 |
| Banco de Sabadell, SA 5.25% 2/7/2029 (1-year EUR Mid-Swap + 2.40% on 2/7/2028) <sup>(e)</sup>  | 100 | 125 |
| Bank of America Corp. 5.202% 4/25/2029 (USD-SOFR + 1.63% on 4/25/2028) <sup>(e)</sup>  | USD161 | 165 |
| Barclays PLC 7.09% 11/6/2029 (1-year EUR (vs. 6-month GBP-LIBOR) + 2.553% on 11/6/2028) <sup>(e)(f)</sup>  | GBP100 | 146 |
| BBVA Bancomer SA 8.45% 6/29/2038 (5-year UST Yield Curve Rate T Note Constant Maturity + 4.661% on <br> 6/29/2033) <sup>(e)</sup>  | USD200 | 212 |
| BPCE SA 4.50% 1/13/2033  | EUR100 | 124 |
| BPCE SA 6.027% 5/28/2036 (USD-SOFR + 1.956% on 5/28/2035) <sup>(d)(e)</sup>  | USD250 | 258 |
| Brown & Brown, Inc. 5.55% 6/23/2035  | 7 | 7 |
| CaixaBank, SA 6.208% 1/18/2029 (USD-SOFR + 2.70% on 1/18/2028) <sup>(d)(e)</sup>  | 200 | 208 |
| CaixaBank, SA 4.375% 8/8/2036 (5-year EUR-ICE Swap EURIBOR + 1.95% on 8/8/2031) <sup>(e)</sup>  | EUR200 | 242 |
| Chubb INA Holdings, LLC 3.35% 5/3/2026  | USD10 | 10 |
| Chubb INA Holdings, LLC 4.35% 11/3/2045  | 20 | 17 |
| Citigroup, Inc. 4.542% 9/19/2030 (USD-SOFR + 1.338% on 9/19/2029) <sup>(e)</sup>  | 70 | 70 |
| Corebridge Financial, Inc. 3.90% 4/5/2032  | 59 | 55 |
| Deutsche Bank AG 2.311% 11/16/2027 (USD-SOFR + 1.219% on 11/16/2026) <sup>(e)</sup>  | 160 | 155 |
| Deutsche Bank AG 1.75% 11/19/2030 (3-month EUR-EURIBOR + 2.05% on 11/19/2029) <sup>(e)</sup>  | EUR200 | 221 |
| DNB Bank ASA 4.00% 8/17/2027 (1-year GBP-GILT + 2.15% on 8/17/2026) <sup>(e)</sup>  | GBP100 | 136 |
| Goldman Sachs Group, Inc. 5.727% 4/25/2030 (USD-SOFR + 1.265% on 4/25/2029) <sup>(e)</sup>  | USD290 | 302 |
| HSBC Holdings PLC 4.292% 9/12/2026 (3-month USD CME Term SOFR + 1.609% on 9/12/2025) <sup>(e)</sup>  | 200 | 200 |
| HSBC Holdings PLC 7.39% 11/3/2028 (USD-SOFR + 7.39% on 11/3/2027) <sup>(e)</sup>  | 360 | 382 |
| HSBC Holdings PLC 7.399% 11/13/2034 (USD-SOFR + 3.02% on 11/13/2033) <sup>(e)</sup>  | 290 | 324 |
| ING Groep NV 5.25% 11/14/2033 (3-month EUR-EURIBOR + 2.15% on 11/14/2032) <sup>(e)</sup>  | EUR100 | 131 |
| JPMorgan Chase & Co. 4.603% 10/22/2030 (USD-SOFR + 1.04% on 10/22/2029) <sup>(e)</sup>  | USD160 | 161 |
| JPMorgan Chase & Co. 1.953% 2/4/2032 (USD-SOFR + 1.065% on 2/4/2031) <sup>(e)</sup>  | 280 | 243 |
| KfW 1.125% 7/4/2025  | GBP95 | 130 |
| Mastercard, Inc. 2.00% 11/18/2031  | USD102 | 89 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **134** |

---

------

American Funds Global Balanced Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Financials (continued)** |  |  |
| Mizuho Financial Group, Inc. 5.778% 7/6/2029 (1-year UST Yield Curve Rate T Note Constant Maturity + <br> 1.65% on 7/6/2028) <sup>(e)</sup>  | USD294 | $305 |
| Morgan Stanley 5.656% 4/18/2030 (USD-SOFR + 1.26% on 4/18/2029) <sup>(e)</sup>  | 150 | 156 |
| Morgan Stanley 5.042% 7/19/2030 (USD-SOFR + 1.215% on 7/19/2029) <sup>(e)</sup>  | 119 | 121 |
| NatWest Group PLC 0.78% 2/26/2030 (3-month EUR-EURIBOR + 0.949% on 2/26/2029) <sup>(e)</sup>  | EUR175 | 191 |
| New York Life Insurance Co. 3.75% 5/15/2050 <sup>(d)</sup>  | USD23 | 17 |
| PNC Financial Services Group, Inc. 6.875% 10/20/2034 (USD-SOFR + 2.284% on 10/20/2033) <sup>(e)</sup>  | 65 | 73 |
| PNC Financial Services Group, Inc. 5.676% 1/22/2035 (USD-SOFR + 1.902% on 1/22/2034) <sup>(e)</sup>  | 25 | 26 |
| PT Bank Negara Indonesia (Persero) Tbk 5.28% 4/5/2029  | 280 | 285 |
| Royal Bank of Canada 1.20% 4/27/2026  | 175 | 171 |
| Wells Fargo & Co. 3.90% 7/22/2032 (3-month EUR-EURIBOR + 1.22% on 7/22/2031) <sup>(e)(g)</sup>  | EUR250 | 303 |
|  |  | 6676 |
| **Utilities 0.87%** |  |  |
| Buffalo Energy Mexico Holdings 7.875% 2/15/2039 <sup>(d)</sup>  | USD200 | 206 |
| Cleveland Electric Illuminating Co. (The) 3.50% 4/1/2028 <sup>(d)</sup>  | 35 | 34 |
| CMS Energy Corp. 3.00% 5/15/2026  | 180 | 178 |
| Duke Energy Corp. 3.75% 4/1/2031  | EUR100 | 120 |
| Edison International 5.45% 6/15/2029  | USD55 | 54 |
| Edison International 6.25% 3/15/2030  | 50 | 51 |
| Electricite de France SA 4.25% 1/25/2032  | EUR100 | 123 |
| Electricite de France SA 4.00% 5/7/2037  | 100 | 117 |
| Electricite de France SA 7.50% junior subordinated perpetual bonds (5-year EUR Mid-Swap + 4.86% on <br> 12/6/2028) <sup>(e)</sup>  | 200 | 260 |
| Enel Finance International NV 2.125% 7/12/2028 <sup>(d)</sup>  | USD200 | 187 |
| Enfragen Energia Sur SA 5.375% 12/30/2030  | 200 | 179 |
| Engie SA 7.00% 10/30/2028  | GBP50 | 74 |
| Exelon Corp. 3.40% 4/15/2026  | USD150 | 149 |
| Interstate Power and Light Co. 2.30% 6/1/2030  | 50 | 45 |
| Pacific Gas and Electric Co. 2.10% 8/1/2027  | 100 | 95 |
| Pacific Gas and Electric Co. 3.30% 12/1/2027  | 252 | 244 |
| Pacific Gas and Electric Co. 4.65% 8/1/2028  | 114 | 113 |
| Pacific Gas and Electric Co. 4.55% 7/1/2030  | 31 | 30 |
| Pacific Gas and Electric Co. 6.15% 1/15/2033  | 78 | 80 |
| Pacific Gas and Electric Co. 4.95% 7/1/2050  | 120 | 97 |
| Pacific Gas and Electric Co. 3.50% 8/1/2050  | 137 | 88 |
| Public Service Company of Colorado 2.70% 1/15/2051  | 125 | 75 |
| Southern California Edison Co. 6.20% 9/15/2055  | 60 | 57 |
| SP Transmission PLC 2.00% 11/13/2031  | GBP100 | 117 |
| Xcel Energy, Inc. 3.35% 12/1/2026  | USD316 | 312 |
| XPLR Infrastructure Operating Partners, LP 7.25% 1/15/2029 <sup>(d)</sup>  | 550 | 564 |
|  |  | 3649 |
| **Energy 0.79%** |  |  |
| Ecopetrol SA 8.625% 1/19/2029  | 125 | 132 |
| Empresa Nacional del Petroleo 5.95% 7/30/2034 <sup>(d)</sup>  | 200 | 203 |
| Enterprise Products Operating, LLC 4.95% 2/15/2035  | 25 | 25 |
| GreenSaif Pipelines Bidco SARL 5.853% 2/23/2036 <sup>(d)</sup>  | 225 | 228 |
| Halliburton Co. 3.80% 11/15/2025  | 2 | 2 |
| ONEOK, Inc. 5.80% 11/1/2030  | 7 | 7 |
| ONEOK, Inc. 6.05% 9/1/2033  | 53 | 56 |
| Petroleos Mexicanos 6.875% 10/16/2025  | 63 | 63 |
| Petroleos Mexicanos 6.875% 8/4/2026  | 211 | 211 |
| Petroleos Mexicanos 6.49% 1/23/2027  | 1238 | 1232 |
| Petroleos Mexicanos 6.84% 1/23/2030  | 460 | 445 |
| Qatar Energy 3.125% 7/12/2041 <sup>(d)</sup>  | 320 | 237 |
| Raizen Fuels Finance SA 6.45% 3/5/2034 <sup>(d)</sup>  | 200 | 200 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **135** | American Funds Insurance Series |

---

------

American Funds Global Balanced Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Energy (continued)** |  |  |
| Saudi Arabian Oil Co. 5.75% 7/17/2054 <sup>(d)</sup>  | USD200 | $188 |
| Targa Resources Corp. 5.50% 2/15/2035  | 2 | 2 |
| TotalEnergies Capital SA 5.488% 4/5/2054  | 85 | 82 |
|  |  | 3313 |
| **Communication services 0.54%** |  |  |
| America Movil, SAB de CV, 10.125% 1/22/2029  | MXN9,100 | 500 |
| America Movil, SAB de CV, 9.50% 1/27/2031  | 2000 | 107 |
| AT&T, Inc. 2.75% 6/1/2031  | USD165 | 150 |
| AT&T, Inc. 5.20% 11/18/2033  | GBP100 | 137 |
| AT&T, Inc. 2.55% 12/1/2033  | USD64 | 54 |
| Comcast Corp. 0% 9/14/2026  | EUR100 | 115 |
| Deutsche Telekom International Finance BV 9.25% 6/1/2032  | USD45 | 56 |
| Orange 9.00% 3/1/2031 <sup>(e)</sup>  | 65 | 79 |
| Orange 3.625% 11/16/2031  | EUR100 | 122 |
| Orange 5.625% 1/23/2034  | GBP90 | 128 |
| T-Mobile USA, Inc. 2.05% 2/15/2028  | USD200 | 189 |
| T-Mobile USA, Inc. 3.15% 2/11/2032  | EUR100 | 117 |
| T-Mobile USA, Inc. 3.70% 5/8/2032  | 100 | 120 |
| T-Mobile USA, Inc. 5.15% 4/15/2034  | USD115 | 116 |
| Verizon Communications, Inc. 0.375% 3/22/2029  | EUR140 | 151 |
| Verizon Communications, Inc. 0.75% 3/22/2032  | 100 | 101 |
|  |  | 2242 |
| **Consumer staples 0.50%** |  |  |
| Altria Group, Inc. 2.20% 6/15/2027  | 270 | 318 |
| BAT Capital Corp. 3.215% 9/6/2026  | USD62 | 61 |
| BAT Capital Corp. 4.70% 4/2/2027  | 67 | 67 |
| BAT Capital Corp. 3.557% 8/15/2027  | 105 | 104 |
| BAT Capital Corp. 3.462% 9/6/2029  | 75 | 72 |
| BAT Capital Corp. 5.625% 8/15/2035  | 243 | 248 |
| British American Tobacco PLC 3.00% junior subordinated perpetual bonds (5-year EUR Mid-Swap + <br> 3.372% on 12/27/2026) <sup>(e)</sup>  | EUR640 | 751 |
| Campbell's Co. (The) 4.75% 3/23/2035  | USD47 | 45 |
| Coca-Cola Co. 4.65% 8/14/2034  | 61 | 61 |
| Coca-Cola Co. 3.75% 8/15/2053  | EUR125 | 138 |
| Mars, Inc. 5.20% 3/1/2035 <sup>(d)</sup>  | USD105 | 106 |
| Philip Morris International, Inc. 5.75% 11/17/2032  | 110 | 116 |
|  |  | 2087 |
| **Health care 0.47%** |  |  |
| AbbVie, Inc. 5.05% 3/15/2034  | 25 | 25 |
| AbbVie, Inc. 5.35% 3/15/2044  | 25 | 25 |
| AbbVie, Inc. 5.40% 3/15/2054  | 25 | 24 |
| AbbVie, Inc. 5.50% 3/15/2064  | 25 | 24 |
| Amgen, Inc. 2.20% 2/21/2027  | 30 | 29 |
| Amgen, Inc. 4.20% 3/1/2033  | 280 | 269 |
| Amgen, Inc. 5.65% 3/2/2053  | 422 | 412 |
| Becton, Dickinson and Co. 3.70% 6/6/2027  | 43 | 42 |
| Becton, Dickinson and Co. 4.298% 8/22/2032  | 150 | 146 |
| Bristol-Myers Squibb Co. 5.55% 2/22/2054  | 60 | 59 |
| Bristol-Myers Squibb Co. 5.65% 2/22/2064  | 85 | 83 |
| CVS Health Corp. 5.40% 6/1/2029  | 242 | 249 |
| GE HealthCare Technologies, Inc. 4.80% 8/14/2029  | 33 | 33 |
| Pfizer Investment Enterprises Pte., Ltd. 4.75% 5/19/2033  | 107 | 107 |
| Pfizer Investment Enterprises Pte., Ltd. 5.30% 5/19/2053  | 21 | 20 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **136** |

---

------

American Funds Global Balanced Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Health care (continued)** |  |  |
| Takeda Pharmaceutical Co., Ltd. 2.25% 11/21/2026  | EUR100 | $118 |
| UnitedHealth Group, Inc. 4.00% 5/15/2029  | USD258 | 255 |
| UnitedHealth Group, Inc. 5.625% 7/15/2054  | 65 | 63 |
|  |  | 1983 |
| **Industrials 0.43%** |  |  |
| Boeing Co. (The) 6.528% 5/1/2034  | 604 | 657 |
| Canadian Pacific Railway Co. 3.00% 12/2/2041  | 42 | 31 |
| Canadian Pacific Railway Co. 3.10% 12/2/2051  | 129 | 85 |
| Carrier Global Corp. 2.493% 2/15/2027  | 7 | 7 |
| CSX Corp. 3.80% 4/15/2050  | 6 | 4 |
| CSX Corp. 2.50% 5/15/2051  | 75 | 43 |
| GE Capital International Funding Co. Unlimited Co. 4.418% 11/15/2035  | 200 | 192 |
| Honeywell International, Inc. 3.75% 3/1/2036  | EUR100 | 117 |
| Lima Metro Line 2 Finance, Ltd. 5.875% 7/5/2034 <sup>(d)</sup>  | USD79 | 81 |
| MISC Capital Two (Labuan), Ltd. 3.75% 4/6/2027 <sup>(d)</sup>  | 200 | 197 |
| RTX Corp. 4.125% 11/16/2028  | 100 | 100 |
| RTX Corp. 6.10% 3/15/2034  | 55 | 59 |
| RTX Corp. 4.50% 6/1/2042  | 70 | 62 |
| Veralto Corp. 4.15% 9/19/2031  | EUR100 | 123 |
| Veralto Corp. 5.45% 9/18/2033  | USD60 | 62 |
|  |  | 1820 |
| **Consumer discretionary 0.37%** |  |  |
| BMW International Investment BV 4.75% 9/4/2030  | GBP100 | 139 |
| Daimler Trucks Finance North America, LLC 3.65% 4/7/2027 <sup>(d)</sup>  | USD150 | 148 |
| Daimler Trucks Finance North America, LLC 5.375% 1/18/2034 <sup>(d)</sup>  | 150 | 150 |
| Ford Motor Credit Co., LLC 3.622% 7/27/2028  | EUR200 | 236 |
| General Motors Financial Co., Inc. 4.90% 10/6/2029  | USD135 | 135 |
| Hyundai Capital America 1.50% 6/15/2026 <sup>(d)</sup>  | 250 | 243 |
| Hyundai Capital America 2.375% 10/15/2027 <sup>(d)</sup>  | 109 | 104 |
| Hyundai Capital America 5.10% 6/24/2030 <sup>(d)</sup>  | 72 | 73 |
| McDonald's Corp. 1.60% 3/15/2031 <sup>(g)</sup>  | EUR100 | 109 |
| Sands China, Ltd. 4.375% 6/18/2030  | USD200 | 191 |
|  |  | 1528 |
| **Materials 0.26%** |  |  |
| BHP Billiton Finance (USA), Ltd. 5.30% 2/21/2035  | 150 | 153 |
| Braskem Netherlands Finance BV 8.50% 1/12/2031  | 400 | 350 |
| First Quantum Minerals, Ltd. 9.375% 3/1/2029 <sup>(d)</sup>  | 250 | 266 |
| Vale Overseas, Ltd. 3.75% 7/8/2030  | 94 | 89 |
| Verallia SAS 3.875% 11/4/2032  | EUR200 | 235 |
|  |  | 1093 |
| **Information technology 0.18%** |  |  |
| Amphenol Corp. 3.125% 6/16/2032  | 100 | 117 |
| Broadcom, Inc. 4.00% 4/15/2029 <sup>(d)</sup>  | USD21 | 21 |
| Broadcom, Inc. 4.15% 11/15/2030  | 70 | 69 |
| Broadcom, Inc. 3.469% 4/15/2034 <sup>(d)</sup>  | 123 | 110 |
| Broadcom, Inc. 3.137% 11/15/2035 <sup>(d)</sup>  | 15 | 12 |
| Oracle Corp. 2.65% 7/15/2026  | 216 | 212 |
| SK hynix, Inc. 1.50% 1/19/2026  | 200 | 197 |
|  |  | 738 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **137** | American Funds Insurance Series |

---

------

American Funds Global Balanced Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Real estate 0.14%** |  |  |
| American Tower Corp. 0.875% 5/21/2029  | EUR130 | $142 |
| Equinix Europe 2 Financing Corp., LLC 3.65% 9/3/2033  | 110 | 128 |
| Equinix Europe 2 Financing Corp., LLC 5.50% 6/15/2034  | USD100 | 102 |
| Equinix, Inc. 2.15% 7/15/2030  | 176 | 157 |
| Essex Portfolio, LP 3.375% 4/15/2026  | 40 | 40 |
|  |  | 569 |
| **Total corporate bonds, notes & loans** |  | 25698 |
| **Mortgage-backed obligations 5.66%** | **Mortgage-backed obligations 5.66%** | **Mortgage-backed obligations 5.66%** |
| **Federal agency mortgage-backed obligations 4.35%** |  |  |
| Fannie Mae Pool #FS3056 2.00% 10/1/2052 <sup>(h)</sup>  | 159 | 126 |
| Fannie Mae Pool #MA4805 4.50% 11/1/2052 <sup>(h)</sup>  | 33 | 32 |
| Fannie Mae Pool #FS4191 5.50% 3/1/2053 <sup>(h)</sup>  | 262 | 264 |
| Fannie Mae Pool #CB5912 6.00% 3/1/2053 <sup>(h)</sup>  | 70 | 71 |
| Fannie Mae Pool #MA4978 5.00% 4/1/2053 <sup>(h)</sup>  | 1301 | 1280 |
| Fannie Mae Pool #CB7104 5.50% 9/1/2053 <sup>(h)</sup>  | 339 | 340 |
| Fannie Mae Pool #MA5191 6.00% 11/1/2053 <sup>(h)</sup>  | 441 | 450 |
| Fannie Mae Pool #FS6767 6.50% 1/1/2054 <sup>(h)</sup>  | 29 | 31 |
| Fannie Mae Pool #MA5271 5.50% 2/1/2054 <sup>(h)</sup>  | 21 | 21 |
| Fannie Mae Pool #MA5296 5.50% 3/1/2054 <sup>(h)</sup>  | 15 | 15 |
| Fannie Mae Pool #MA5295 6.00% 3/1/2054 <sup>(h)</sup>  | 2813 | 2862 |
| Fannie Mae Pool #FS8131 5.50% 6/1/2054 <sup>(h)</sup>  | 92 | 93 |
| Fannie Mae Pool #FS8153 6.00% 6/1/2054 <sup>(h)</sup>  | 74 | 76 |
| Fannie Mae Pool #DB8491 5.50% 7/1/2054 <sup>(h)</sup>  | 496 | 497 |
| Fannie Mae Pool #FS8467 5.50% 7/1/2054 <sup>(h)</sup>  | 186 | 187 |
| Fannie Mae Pool #CB8842 5.50% 7/1/2054 <sup>(h)</sup>  | 139 | 139 |
| Fannie Mae Pool #BU4700 6.00% 7/1/2054 <sup>(h)</sup>  | 106 | 108 |
| Fannie Mae Pool #CB8858 6.00% 7/1/2054 <sup>(h)</sup>  | 72 | 73 |
| Fannie Mae Pool #FS8318 6.00% 7/1/2054 <sup>(h)</sup>  | 52 | 53 |
| Fannie Mae Pool #MA5422 6.50% 7/1/2054 <sup>(h)</sup>  | 7 | 7 |
| Fannie Mae Pool #DB7783 5.50% 8/1/2054 <sup>(h)</sup>  | 87 | 87 |
| Fannie Mae Pool #FS8758 6.00% 8/1/2054 <sup>(h)</sup>  | 87 | 89 |
| Fannie Mae Pool #FS8757 6.00% 8/1/2054 <sup>(h)</sup>  | 72 | 74 |
| Fannie Mae Pool #DB7792 6.00% 8/1/2054 <sup>(h)</sup>  | 66 | 68 |
| Fannie Mae Pool #BU4916 6.00% 8/1/2054 <sup>(h)</sup>  | 35 | 36 |
| Fannie Mae Pool #FS8756 6.00% 8/1/2054 <sup>(h)</sup>  | 29 | 30 |
| Fannie Mae Pool #DC0495 5.50% 9/1/2054 <sup>(h)</sup>  | 349 | 350 |
| Fannie Mae Pool #MA5470 5.50% 9/1/2054 <sup>(h)</sup>  | 3 | 3 |
| Fannie Mae Pool #MA5471 6.00% 9/1/2054 <sup>(h)</sup>  | 1169 | 1189 |
| Fannie Mae Pool #FS8866 6.00% 9/1/2054 <sup>(h)</sup>  | 92 | 94 |
| Fannie Mae Pool #MA5530 5.00% 11/1/2054 <sup>(h)</sup>  | 524 | 514 |
| Fannie Mae Pool #MA5531 5.50% 11/1/2054 <sup>(h)</sup>  | 11 | 11 |
| Fannie Mae Pool #DC7042 4.50% 12/1/2054 <sup>(h)</sup>  | 283 | 271 |
| Fannie Mae Pool #MA5552 5.00% 12/1/2054 <sup>(h)</sup>  | 13 | 13 |
| Fannie Mae Pool #FA0608 5.50% 2/1/2055 <sup>(h)</sup>  | 334 | 334 |
| Fannie Mae Pool #MA5615 6.00% 2/1/2055 <sup>(h)</sup>  | 118 | 120 |
| Fannie Mae Pool #MA5644 4.50% 3/1/2055 <sup>(h)</sup>  | 63 | 61 |
| Fannie Mae Pool #DD0782 5.50% 3/1/2055 <sup>(h)</sup>  | 40 | 40 |
| Fannie Mae Pool #MA5647 6.00% 3/1/2055 <sup>(h)</sup>  | 38 | 39 |
| Fannie Mae Pool #MA5671 4.50% 4/1/2055 <sup>(h)</sup>  | 67 | 64 |
| Fannie Mae Pool #MA5674 6.00% 4/1/2055 <sup>(h)</sup>  | 43 | 43 |
| Fannie Mae Pool #MA5699 5.00% 5/1/2055 <sup>(h)</sup>  | 101 | 99 |
| Fannie Mae Pool #MA5701 6.00% 5/1/2055 <sup>(h)</sup>  | 14 | 14 |
| Fannie Mae Pool #MA5734 5.00% 6/1/2055 <sup>(h)</sup>  | 52 | 51 |
| Fannie Mae Pool #MA5735 5.50% 6/1/2055 <sup>(h)</sup>  | 28 | 28 |
| Fannie Mae Pool #MA5762 6.50% 7/1/2055 <sup>(h)</sup>  | 3 | 3 |
| Freddie Mac Pool #RA5155 2.00% 5/1/2051 <sup>(h)</sup>  | 333 | 264 |
| Freddie Mac Pool #SD8266 4.50% 11/1/2052 <sup>(h)</sup>  | 99 | 95 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **138** |

---

------

American Funds Global Balanced Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** |  |  |
| Freddie Mac Pool #SD8287 4.50% 1/1/2053 <sup>(h)</sup>  | USD55 | $53 |
| Freddie Mac Pool #SD4977 5.00% 11/1/2053 <sup>(h)</sup>  | 128 | 126 |
| Freddie Mac Pool #RJ0326 6.50% 11/1/2053 <sup>(h)</sup>  | 10 | 10 |
| Freddie Mac Pool #SD8401 5.50% 2/1/2054 <sup>(h)</sup>  | 763 | 764 |
| Freddie Mac Pool #QI0213 6.50% 2/1/2054 <sup>(h)</sup>  | 8 | 8 |
| Freddie Mac Pool #SD8408 5.50% 3/1/2054 <sup>(h)</sup>  | 420 | 420 |
| Freddie Mac Pool #SD8433 6.50% 5/1/2054 <sup>(h)</sup>  | 10 | 10 |
| Freddie Mac Pool #RJ1855 5.00% 6/1/2054 <sup>(h)</sup>  | 27 | 26 |
| Freddie Mac Pool #RJ1768 5.50% 6/1/2054 <sup>(h)</sup>  | 43 | 43 |
| Freddie Mac Pool #RJ1779 6.00% 6/1/2054 <sup>(h)</sup>  | 83 | 85 |
| Freddie Mac Pool #RJ1963 5.50% 7/1/2054 <sup>(h)</sup>  | 36 | 36 |
| Freddie Mac Pool #RJ1975 6.00% 7/1/2054 <sup>(h)</sup>  | 109 | 112 |
| Freddie Mac Pool #SD5813 6.00% 7/1/2054 <sup>(h)</sup>  | 73 | 75 |
| Freddie Mac Pool #RJ1964 6.00% 7/1/2054 <sup>(h)</sup>  | 56 | 57 |
| Freddie Mac Pool #SD8447 6.00% 7/1/2054 <sup>(h)</sup>  | 51 | 52 |
| Freddie Mac Pool #QI8874 6.00% 7/1/2054 <sup>(h)</sup>  | 44 | 44 |
| Freddie Mac Pool #SD8453 5.50% 8/1/2054 <sup>(h)</sup>  | 23 | 23 |
| Freddie Mac Pool #SD6029 6.00% 8/1/2054 <sup>(h)</sup>  | 47 | 48 |
| Freddie Mac Pool #SD8454 6.00% 8/1/2054 <sup>(h)</sup>  | 12 | 12 |
| Freddie Mac Pool #RJ2298 5.50% 9/1/2054 <sup>(h)</sup>  | 126 | 126 |
| Freddie Mac Pool #SD8462 5.50% 9/1/2054 <sup>(h)</sup>  | 6 | 6 |
| Freddie Mac Pool #RJ2314 6.00% 9/1/2054 <sup>(h)</sup>  | 162 | 165 |
| Freddie Mac Pool #RJ2312 6.00% 9/1/2054 <sup>(h)</sup>  | 85 | 87 |
| Freddie Mac Pool #RJ2308 6.00% 9/1/2054 <sup>(h)</sup>  | 83 | 85 |
| Freddie Mac Pool #RJ2306 6.00% 9/1/2054 <sup>(h)</sup>  | 76 | 78 |
| Freddie Mac Pool #RJ2309 6.00% 9/1/2054 <sup>(h)</sup>  | 45 | 46 |
| Freddie Mac Pool #SD8469 5.50% 10/1/2054 <sup>(h)</sup>  | 35 | 35 |
| Freddie Mac Pool #RJ2851 4.50% 11/1/2054 <sup>(h)</sup>  | 74 | 71 |
| Freddie Mac Pool #SD8475 5.50% 11/1/2054 <sup>(h)</sup>  | 69 | 69 |
| Freddie Mac Pool #SD8491 5.00% 12/1/2054 <sup>(h)</sup>  | 511 | 501 |
| Freddie Mac Pool #QX1414 5.50% 12/1/2054 <sup>(h)</sup>  | 64 | 64 |
| Freddie Mac Pool #SD8493 5.50% 12/1/2054 <sup>(h)</sup>  | 1 | 1 |
| Freddie Mac Pool #SD8507 6.00% 2/1/2055 <sup>(h)</sup>  | 22 | 22 |
| Freddie Mac Pool #SD8515 5.50% 3/1/2055 <sup>(h)</sup>  | 1045 | 1045 |
| Freddie Mac Pool #SL1094 5.00% 4/1/2055 <sup>(h)</sup>  | 44 | 43 |
| Freddie Mac Pool #SD8525 6.00% 4/1/2055 <sup>(h)</sup>  | 43 | 43 |
| Freddie Mac Pool #SD8532 5.00% 5/1/2055 <sup>(h)</sup>  | 92 | 91 |
| Freddie Mac Pool #SD8534 6.00% 5/1/2055 <sup>(h)</sup>  | 12 | 12 |
| Freddie Mac Pool #RQ0012 5.00% 6/1/2055 <sup>(h)</sup>  | 1412 | 1384 |
| Freddie Mac Pool #RQ0013 5.50% 6/1/2055 <sup>(h)</sup>  | 65 | 65 |
| Uniform Mortgage-Backed Security 4.50% 7/1/2055 <sup>(h)(i)</sup>  | 403 | 386 |
| Uniform Mortgage-Backed Security 5.00% 7/1/2055 <sup>(h)(i)</sup>  | 891 | 874 |
| Uniform Mortgage-Backed Security 6.50% 8/1/2055 <sup>(h)(i)</sup>  | 88 | 91 |
|  |  | 18203 |
| **Collateralized mortgage-backed obligations (privately originated) 0.56%** |  |  |
| Cascade Funding Mortgage Trust, Series 2024-HB15, Class A, 4.00% 8/25/2034 <sup>(d)(h)(j)</sup>  | 82 | 81 |
| Connecticut Avenue Securities Trust, Series 2023-R04, Class 1M1, (30-day Average USD-SOFR + 2.30%) <br>6.605% 5/25/2043 <sup>(d)(h)(j)</sup>  | 143 | 146 |
| Connecticut Avenue Securities Trust, Series 2023-R05, Class 1M1, (30-day Average USD-SOFR + 1.90%) <br> 6.205% 6/25/2043 <sup>(d)(h)(j)</sup>  | 72 | 72 |
| Connecticut Avenue Securities Trust, Series 2023-R06, Class 1M1, (30-day Average USD-SOFR + 1.70%) <br> 6.005% 7/25/2043 <sup>(d)(h)(j)</sup>  | 49 | 49 |
| Connecticut Avenue Securities Trust, Series 2024-R01, Class 1M2, (30-day Average USD-SOFR + 1.80%) <br> 6.105% 1/25/2044 <sup>(d)(h)(j)</sup>  | 55 | 56 |
| Connecticut Avenue Securities Trust, Series 2024-R04, Class 1M1, (30-day Average USD-SOFR + 1.10%) <br> 5.405% 5/25/2044 <sup>(d)(h)(j)</sup>  | 63 | 63 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **139** | American Funds Insurance Series |

---

------

American Funds Global Balanced Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Collateralized mortgage-backed obligations (privately originated) (continued)** |  |  |
| Connecticut Avenue Securities Trust, Series 2024-R04, Class 1M2, (30-day Average USD-SOFR + 1.65%) <br> 5.955% 5/25/2044 <sup>(d)(h)(j)</sup>  | USD121 | $122 |
| Connecticut Avenue Securities Trust, Series 2025-R02, Class 1A1, (30-day Average USD-SOFR + 1.00%) <br> 5.305% 2/25/2045 <sup>(d)(h)(j)</sup>  | 21 | 21 |
| Connecticut Avenue Securities Trust, Series 2025-R02, Class 1M1, (30-day Average USD-SOFR + 1.15%) <br> 5.455% 2/25/2045 <sup>(d)(h)(j)</sup>  | 54 | 54 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2025-DNA1, Class A1, (30-day Average <br> USD-SOFR + 0.95%) 5.255% 1/25/2045 <sup>(d)(h)(j)</sup>  | 32 | 32 |
| GCAT Trust, Series 2024-NQM2, Class A1, 6.085% 6/25/2059 (7.359% on 5/1/2028) <sup>(d)(e)(h)</sup>  | 228 | 230 |
| MFRA Trust, Series 2024-NQM3, Class A1, 5.722% 12/25/2069 (6.722% on 12/1/2028) <sup>(d)(e)(h)</sup>  | 110 | 111 |
| New York Mortgage Trust, Series 2024-CP1, Class A1, 3.75% 2/25/2068 <sup>(d)(h)(j)</sup>  | 87 | 81 |
| Onslow Bay Financial, LLC, Series 2024-NQM5, Class A1, 5.988% 3/25/2028 (6.988% on 3/1/2028) <sup>(d)(e)(h)</sup>  | 85 | 85 |
| Onslow Bay Financial, LLC, Series 2024-NQM7, Class A1, 6.243% 3/25/2064 (7.243% on 4/1/2028) <sup>(d)(e)(h)</sup>  | 166 | 168 |
| Onslow Bay Financial, LLC, Series 2025-NQM3, Class A1, 5.648% 12/1/2064 (6.648% on 2/1/2029) <sup>(d)(e)(h)</sup>  | 208 | 210 |
| Onslow Bay Financial, LLC, Series 2025-NQM1, Class A1, 5.547% 12/25/2064 (6.547% on 12/1/2028) <sup>(d)(e)(h)</sup>  | 215 | 216 |
| Starwood Mortgage Residential Trust, Series 2025-SFR5, Class A, (1-month USD CME Term SOFR + 1.45%) <br> 5.762% 2/17/2042 <sup>(d)(h)(j)</sup>  | 100 | 100 |
| Verus Securitization Trust, Series 2024-4, Class A1, 6.218% 6/25/2069 (7.218% on 5/1/2028) <sup>(d)(e)(h)</sup>  | 236 | 239 |
| Verus Securitization Trust, Series 2024-4, Class A2, 6.572% 6/25/2069 (7.572% on 5/1/2028) <sup>(d)(e)(h)</sup>  | 118 | 120 |
| Verus Securitization Trust, Series 2024-9, Class A1, 5.438% 11/25/2069 <sup>(d)(h)(j)</sup>  | 93 | 93 |
|  |  | 2349 |
| **Commercial mortgage-backed securities 0.51%** |  |  |
| BMO Mortgage Trust, Series 2024-5C8, Class AS, 5.94% 12/15/2057 <sup>(h)(j)</sup>  | 55 | 57 |
| BX Trust, Series 2021-VOLT, Class A, (1-month USD CME Term SOFR + 0.814%) 5.126% 9/15/2036 <sup>(d)(h)(j)</sup>  | 146 | 145 |
| BX Trust, Series 2025-BIO3, Class A, 6.138% 2/10/2042 <sup>(d)(h)</sup>  | 140 | 144 |
| Citigroup Commercial Mortgage Trust, Series 2023-PRM3, Class A, 6.36% 7/10/2028 <sup>(d)(h)(j)</sup>  | 100 | 105 |
| Citigroup Commercial Mortgage Trust, Series 2023-SMRT, Class A, 6.015% 10/12/2040 <sup>(d)(h)(j)</sup>  | 135 | 140 |
| Fontainebleau Miami Beach Trust, Series 2024-FBLU, Class A, (1-month USD CME Term SOFR + 1.45%) <br> 5.762% 12/15/2029 <sup>(d)(h)(j)</sup>  | 24 | 24 |
| Hawaii Hotel Trust, Series 2025-MAUI, Class A, (1-month USD CME Term SOFR + 1.393%) 5.705% <br>3/15/2042 <sup>(d)(h)(j)</sup>  | 100 | 100 |
| Houston Galleria Mall Trust, Series 2025-HGLR, Class A, 5.644% 2/5/2045 <sup>(d)(h)(j)</sup>  | 157 | 161 |
| HTL Commercial Mortgage Trust, Series 2024-T53, Class A, 5.875% 5/10/2039 <sup>(d)(h)(j)</sup>  | 100 | 101 |
| Hudson Yards Mortgage Trust, Series 2025-SPRL, Class A, 5.649% 1/13/2040 <sup>(d)(h)(j)</sup>  | 131 | 135 |
| INTOWN Mortgage Trust, Series 2025-STAY, Class A, (1-month USD CME Term SOFR + 1.35%) 5.662% <br>3/15/2042 <sup>(d)(h)(j)</sup>  | 295 | 294 |
| KSL Commercial Mortgage Trust, Series 2024-HT2, Class A, (1-month USD CME Term SOFR + 1.542%) <br> 5.854% 12/15/2039 <sup>(d)(h)(j)</sup>  | 143 | 143 |
| Multifamily Connecticut Avenue Securities, Series 2024-01, Class M7, (30-day Average USD-SOFR + 2.75%) <br> 7.055% 7/25/2054 <sup>(d)(h)(j)</sup>  | 51 | 52 |
| SWCH Commercial Mortgage Trust, Series 2025-DATA, Class A, (1-month USD CME Term SOFR + 1.443%) <br> 5.755% 3/15/2042 <sup>(d)(h)(j)</sup>  | 555 | 552 |
|  |  | 2153 |
| **Other mortgage-backed securities 0.24%** |  |  |
| Nykredit Realkredit AS, Series 01E, 1.50% 10/1/2037 <sup>(h)</sup>  | DKK415 | 60 |
| Nykredit Realkredit AS, Series 01E, 1.50% 10/1/2040 <sup>(h)</sup>  | 1093 | 156 |
| Nykredit Realkredit AS, Series 01E, 0.50% 10/1/2043 <sup>(h)</sup>  | 5082 | 659 |
| Nykredit Realkredit AS, Series 01E, 0.50% 10/1/2050 <sup>(h)</sup>  | 447 | 52 |
| Nykredit Realkredit AS, Series CCE, 1.00% 10/1/2050 <sup>(h)</sup>  | 540 | 67 |
| Realkredit Danmark AS 1.00% 10/1/2053 <sup>(h)</sup>  | 179 | 22 |
|  |  | 1016 |
| **Total mortgage-backed obligations** |  | 23721 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **140** |

---

------

American Funds Global Balanced Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **U.S. Treasury bonds & notes 4.78%** | **U.S. Treasury bonds & notes 4.78%** | **U.S. Treasury bonds & notes 4.78%** |
| **U.S. Treasury 4.47%** |  |  |
| U.S. Treasury 3.00% 7/15/2025  | USD985 | $984 |
| U.S. Treasury 4.50% 4/15/2027  | 1223 | 1238 |
| U.S. Treasury 4.00% 6/30/2028  | 4484 | 4522 |
| U.S. Treasury 4.625% 9/30/2028  | 1875 | 1927 |
| U.S. Treasury 4.125% 3/31/2029  | 865 | 877 |
| U.S. Treasury 3.50% 9/30/2029  | 755 | 747 |
| U.S. Treasury 4.00% 2/28/2030  | 1130 | 1141 |
| U.S. Treasury 0.625% 5/15/2030  | 1150 | 989 |
| U.S. Treasury 4.00% 5/31/2030  | 1090 | 1101 |
| U.S. Treasury 1.375% 11/15/2031 <sup>(k)</sup>  | 771 | 660 |
| U.S. Treasury 2.875% 5/15/2032  | 306 | 286 |
| U.S. Treasury 4.625% 2/15/2035 <sup>(k)</sup>  | 1340 | 1383 |
| U.S. Treasury 4.25% 5/15/2035  | 6 | 6 |
| U.S. Treasury 1.875% 2/15/2041 <sup>(k)</sup>  | 285 | 196 |
| U.S. Treasury 2.25% 5/15/2041 <sup>(k)</sup>  | 986 | 717 |
| U.S. Treasury 2.875% 11/15/2046  | 330 | 243 |
| U.S. Treasury 1.25% 5/15/2050  | 440 | 211 |
| U.S. Treasury 1.375% 8/15/2050  | 400 | 197 |
| U.S. Treasury 2.375% 5/15/2051 <sup>(k)</sup>  | 510 | 324 |
| U.S. Treasury 2.00% 8/15/2051 <sup>(k)</sup>  | 560 | 323 |
| U.S. Treasury 4.00% 11/15/2052  | 270 | 236 |
| U.S. Treasury 3.625% 2/15/2053  | 149 | 122 |
| U.S. Treasury 4.25% 8/15/2054  | 320 | 292 |
|  |  | 18722 |
| **U.S. Treasury inflation-protected securities 0.31%** |  |  |
| U.S. Treasury Inflation-Protected Security 0.375% 7/15/2027 <sup>(c)</sup>  | 372 | 367 |
| U.S. Treasury Inflation-Protected Security 2.375% 10/15/2028 <sup>(c)</sup>  | 687 | 713 |
| U.S. Treasury Inflation-Protected Security 1.00% 2/15/2049 <sup>(c)</sup>  | 268 | 194 |
|  |  | 1274 |
| **Total U.S. Treasury bonds & notes** |  | 19996 |
| **Asset-backed obligations 0.58%** | **Asset-backed obligations 0.58%** | **Asset-backed obligations 0.58%** |
| Affirm, Inc., Series 2024-X1, Class A, 6.27% 5/15/2029 <sup>(d)(h)</sup>  | 7 | 7 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-2, Class A, 5.20% 10/20/2027 <sup>(d)(h)</sup>  | 125 | 126 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-6, Class A, 5.81% 12/20/2029 <sup>(d)(h)</sup>  | 148 | 154 |
| Castlelake Aircraft Securitization Trust, Series 2025-1A, Class A, 5.783% 2/15/2050 <sup>(d)(h)</sup>  | 97 | 99 |
| EquipmentShare, Series 2024-2M, Class A, 5.70% 12/20/2032 <sup>(d)(h)</sup>  | 91 | 92 |
| Hertz Vehicle Financing, LLC, Series 2025-1A, Class A, 4.91% 9/25/2029 <sup>(d)(h)</sup>  | 100 | 101 |
| Lendbuzz Securitization Trust, Series 2025-1A, Class A2, 5.10% 10/15/2030 <sup>(d)(h)</sup>  | 43 | 43 |
| Marathon CLO, Ltd., Series 2019-2A, Class A1R2, (3-month USD CME Term SOFR + 0.95%) 5.219% <br>1/20/2033 <sup>(d)(h)(j)</sup>  | 233 | 231 |
| Mission Lane Credit Card Master Trust, Series 2024-A, Class A1, 6.20% 8/15/2029 <sup>(d)(h)</sup>  | 113 | 114 |
| Mission Lane Credit Card Master Trust, Series 2024-A, Class B, 6.59% 8/15/2029 <sup>(d)(h)</sup>  | 100 | 101 |
| Mission Lane Credit Card Master Trust, Series 2025-B, Class A, 5.40% 9/15/2031 <sup>(d)(h)</sup>  | 100 | 100 |
| NMEF Funding, LLC, Series 2025-A, Class A2, 4.72% 7/15/2032 <sup>(d)(h)</sup>  | 100 | 100 |
| OnDeck Asset Securitization Trust, LLC, Series 2024-1, Class A, 6.27% 6/17/2031 <sup>(d)(h)</sup>  | 208 | 211 |
| OnDeck Asset Securitization Trust, LLC, Series 2024-1, Class B, 7.15% 6/17/2031 <sup>(d)(h)</sup>  | 100 | 102 |
| PEAC Solutions Receivables, LLC, Series 2025-1A, Class A2, 4.94% 10/20/2028 <sup>(d)(h)</sup>  | 86 | 86 |
| SCF Equipment Trust, LLC, Series 2025-1A, Class A3, 5.11% 11/21/2033 <sup>(d)(h)</sup>  | 231 | 236 |
| Securitized Term Auto Receivables Trust, Series 2025-A, Class B, 5.038% 7/25/2031 <sup>(d)(h)</sup>  | 13 | 13 |
| SMB Private Education Loan Trust, Series 2023-C, Class A1B, (30-day Average USD-SOFR + 1.55%) <br>5.854% 11/15/2052 <sup>(d)(h)(j)</sup>  | 70 | 71 |
| Steele Creek CLO, Ltd., Series 2019-2A, Class ARR, (3-month USD CME Term SOFR + 1.00%) 5.256% <br>7/15/2032 <sup>(d)(h)(j)</sup>  | 230 | 230 |
| U.S. Bank National Association, Series 2025-SUP1, Class B, 5.582% 2/25/2032 <sup>(d)(h)</sup>  | 219 | 219 |
|  |  | 2436 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **141** | American Funds Insurance Series |

---

------

American Funds Global Balanced Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) |  | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Municipals 0.03%** | **Municipals 0.03%** | **Municipals 0.03%** | **Municipals 0.03%** |
| **Ohio 0.02%** | **Ohio 0.02%** |  |  |
| Turnpike and Infrastructure Commission, Turnpike Rev. Ref. Bonds (Infrastructure Projects), Series 2020-A, <br> 3.216% 2/15/2048  | Turnpike and Infrastructure Commission, Turnpike Rev. Ref. Bonds (Infrastructure Projects), Series 2020-A, <br> 3.216% 2/15/2048  | USD100 | $72 |
| **Texas 0.01%** | **Texas 0.01%** |  |  |
| Grand Parkway Transportation Corp., Grand Parkway System Toll Rev. Ref. Bonds, Series 2020-B, <br>3.236% 10/1/2052  | Grand Parkway Transportation Corp., Grand Parkway System Toll Rev. Ref. Bonds, Series 2020-B, <br>3.236% 10/1/2052  | 80 | 55 |
| **Total municipals** | **Total municipals** |  | 127 |
| **Federal agency bonds & notes 0.03%** | **Federal agency bonds & notes 0.03%** | **Federal agency bonds & notes 0.03%** | **Federal agency bonds & notes 0.03%** |
| Korea Development Bank 6.75% 7/1/2030  | Korea Development Bank 6.75% 7/1/2030  | INR10,000 | 116 |
| **Total bonds, notes & other debt instruments** (cost: $131,387,000) | **Total bonds, notes & other debt instruments** (cost: $131,387,000) |  | 130612 |
| Investment funds 0.99% |  | Shares |  |
| Capital Group Central Corporate Bond Fund <sup>(l)</sup>  | Capital Group Central Corporate Bond Fund <sup>(l)</sup>  | 488295 | 4121 |
| **Total Investment funds** (cost: $3,868,000) | **Total Investment funds** (cost: $3,868,000) |  | 4121 |
| Short-term securities 5.53% |  |  |  |
| **Money market investments 5.16%** | **Money market investments 5.16%** | **Money market investments 5.16%** | **Money market investments 5.16%** |
| Capital Group Central Cash Fund 4.35% <sup>(l)(m)</sup>  | Capital Group Central Cash Fund 4.35% <sup>(l)(m)</sup>  | 215820 | 21582 |
| **Money market investments purchased with collateral from securities on loan 0.33%** | **Money market investments purchased with collateral from securities on loan 0.33%** | **Money market investments purchased with collateral from securities on loan 0.33%** | **Money market investments purchased with collateral from securities on loan 0.33%** |
| Invesco Short-Term Investments Trust – Government & Agency Portfolio, Institutional Class 4.26% <sup>(m)(n)</sup>  | Invesco Short-Term Investments Trust – Government & Agency Portfolio, Institutional Class 4.26% <sup>(m)(n)</sup>  | 1390770 | 1391 |
|  | Weighted<br> average yield<br> at acquisition<br>| Principal amount<br> (000)<br>|  |
| **Bills & notes of governments & government agencies outside the U.S. 0.04%** | **Bills & notes of governments & government agencies outside the U.S. 0.04%** | **Bills & notes of governments & government agencies outside the U.S. 0.04%** | **Bills & notes of governments & government agencies outside the U.S. 0.04%** |
| Egypt (Arab Republic of) 9/9/2025  | 21.356<br> %<br>| EGP10,000 | 191 |
| **Total short-term securities** (cost: $23,161,000) |  |  | 23164 |
| **Total investment securities 100.29%** (cost: $342,605,000) | **Total investment securities 100.29%** (cost: $342,605,000) |  | 419794 |
| Other assets less liabilities (0.29)% | Other assets less liabilities (0.29)% |  | (1205)<br>|
| **Net assets 100.00%** | **Net assets 100.00%** |  | $418589 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **142** |

---

------

American Funds Global Balanced Fund (continued)

**Options purchased (futures style)**

------

**Options on futures** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Description | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exercise <br>price<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value and <br>unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) at <br>6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| **Put** |  |  |  |  |  |
| 10 Year Euro-Bund Futures Options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/25/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EUR129.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EUR9,500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $7 |

---

**Options written (futures style)**

------

**Options on futures** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Description | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exercise <br>price<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value and <br>unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) at <br>6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| **Put** |  |  |  |  |  |
| 10 Year Euro-Bund Futures Options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (95)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/25/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EUR128.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EUR(9,500)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(5)<br>|

---

**Futures contracts**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Contracts | Type | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value and <br>unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| 2 Year Italy Government Bond Futures | Long | 6 | 9/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD763 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— <br><sup>(o)</sup><br>|
| 2 Year Euro-Schatz Futures | Long | 5 | 9/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 632 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(o)</sup><br>|
| 2 Year Canadian Government Bond Futures | Long | 16 | 9/29/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1242 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(o)</sup><br>|
| 2 Year U.S. Treasury Note Futures | Short | 7 | 10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1456)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(o)</sup><br>|
| 5 Year Euro-Bobl Futures | Long | 60 | 9/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (20)<br>|
| 5 Year Canadian Government Bond Futures | Long | 19 | 9/29/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1592 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 |
| 5 Year U.S. Treasury Note Futures | Long | 86 | 10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9374 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96 |
| 10 Year French Government Bond Futures | Long | 5 | 9/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3)<br>|
| 10 Year Italy Government Bond Futures | Short | 8 | 9/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1140)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3)<br>|
| 10 Year Euro-Bund Futures | Short | 47 | 9/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7206)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42 |
| 10 Year Australian Treasury Bond Futures | Short | 7 | 9/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (528)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6)<br>|
| 10 Year Japanese Government Bond Futures | Short | 8 | 9/22/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7723)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (25)<br>|
| 10 Year Canadian Government Bond Futures | Long | 15 | 9/29/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1344 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 |
| 10 Year U.S. Treasury Note Futures | Long | 23 | 9/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2579 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 52 |
| 10 Year UK Gilt Futures | Long | 12 | 9/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1532 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14 |
| 10 Year Ultra U.S. Treasury Note Futures | Long | 10 | 9/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24 |
| 20 Year U.S. Treasury Bond Futures | Long | 15 | 9/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 64 |
| 30 Year Euro-Buxl Futures | Short | 11 | 9/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1539)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16 |
| 30 Year Ultra U.S. Treasury Bond Futures | Long | 6 | 9/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $281 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **143** | American Funds Insurance Series |

---

------

American Funds Global Balanced Fund (continued)

**Forward currency contracts**

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Contract amount | Contract amount | Contract amount | Contract amount | Counterparty | &nbsp;&nbsp; Settlement <br>date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| Currency purchased <br>(000) | Currency purchased <br>(000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Currency sold <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Currency sold <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) | Counterparty | &nbsp;&nbsp; Settlement <br>date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| GBP | 275 | USD | 371 | Morgan Stanley | 7/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $7 |
| GBP | 110 | USD | 148 | UBS AG | 7/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 |
| USD | 240 | GBP | 175 | Morgan Stanley | 7/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(o)</sup><br>|
| USD | 284 | GBP | 210 | Morgan Stanley | 7/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5)<br>|
| JPY | 86895 | USD | 599 | Goldman Sachs | 7/7/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 |
| JPY | 16970 | USD | 118 | Barclays Bank PLC | 7/7/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(o)</sup><br>|
| EUR | 2380 | USD | 2713 | Goldman Sachs | 7/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 92 |
| USD | 91 | EUR | 80 | BNP Paribas | 7/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3)<br>|
| USD | 138 | EUR | 120 | UBS AG | 7/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3)<br>|
| USD | 232 | EUR | 200 | UBS AG | 7/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4)<br>|
| USD | 907 | EUR | 820 | BNP Paribas | 7/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (60)<br>|
| USD | 187 | MYR | 790 | BNP Paribas | 7/9/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| EUR | 980 | USD | 1127 | HSBC Bank | 7/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28 |
| USD | 122 | EUR | 107 | HSBC Bank | 7/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4)<br>|
| USD | 912 | EUR | 790 | JPMorgan Chase | 7/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (20)<br>|
| EUR | 430 | USD | 493 | Standard Chartered Bank | 7/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14 |
| CNH | 22979 | USD | 3206 | Citibank | 7/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8 |
| CHF | 130 | USD | 159 | UBS AG | 7/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 |
| USD | 49 | AUD | 75 | Standard Chartered Bank | 7/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(o)</sup><br>|
| USD | 21 | CLP | 19505 | Morgan Stanley | 7/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(o)</sup><br>|
| USD | 18 | BRL | 105 | Citibank | 7/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| USD | 202 | CNH | 1450 | Goldman Sachs | 7/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| USD | 785 | INR | 67415 | Standard Chartered Bank | 7/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| USD | 70 | RON | 310 | Citibank | 7/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2)<br>|
| USD | 86 | ILS | 300 | HSBC Bank | 7/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3)<br>|
| USD | 591 | IDR | 9648911 | HSBC Bank | 7/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4)<br>|
| USD | 1438 | AUD | 2195 | Citibank | 7/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7)<br>|
| EUR | 1615 | USD | 1847 | BNP Paribas | 7/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 58 |
| USD | 278 | MXN | 5330 | Citibank | 7/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5)<br>|
| EUR | 780 | USD | 905 | Bank of America | 7/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15 |
| EUR | 423 | GBP | 360 | BNP Paribas | 7/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 |
| CNH | 4590 | USD | 641 | Citibank | 7/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| EUR | 12 | USD | 14 | Bank of America | 7/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(o)</sup><br>|
| NZD | 47 | USD | 29 | UBS AG | 7/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(o)</sup><br>|
| USD | 227 | JPY | 32750 | Citibank | 7/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| USD | 9685 | CNH | 69313 | HSBC Bank | 7/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (11)<br>|
| USD | 10308 | JPY | 1480084 | JPMorgan Chase | 7/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9 |
| USD | 1950 | CAD | 2660 | Bank of New York Mellon | 7/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5)<br>|
| USD | 71 | COP | 300000 | Morgan Stanley | 7/18/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2)<br>|
| USD | 1728 | KRW | 2363730 | Citibank | 7/18/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (21)<br>|
| USD | 1570 | BRL | 8781 | Citibank | 7/18/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (39)<br>|
| USD | 5670 | GBP | 4190 | UBS AG | 7/18/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (82)<br>|
| MYR | 2435 | USD | 573 | Standard Chartered Bank | 7/21/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 |
| MYR | 915 | USD | 216 | JPMorgan Chase | 7/21/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 |
| USD | 92 | SEK | 870 | Morgan Stanley | 7/21/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(o)</sup><br>|
| USD | 64 | MYR | 281 | HSBC Bank | 7/21/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2)<br>|
| USD | 107 | PLN | 390 | Citibank | 7/21/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2)<br>|
| USD | 95 | MYR | 418 | BNP Paribas | 7/21/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4)<br>|
| USD | 165 | MYR | 727 | Standard Chartered Bank | 7/21/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7)<br>|
| USD | 234 | MYR | 1031 | Standard Chartered Bank | 7/21/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (10)<br>|
| USD | 249 | MYR | 1091 | Standard Chartered Bank | 7/21/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (10)<br>|
| USD | 281 | MYR | 1234 | Standard Chartered Bank | 7/21/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (12)<br>|
| USD | 388 | MYR | 1698 | HSBC Bank | 7/21/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (15)<br>|
| USD | 326 | JPY | 47140 | Bank of America | 7/22/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2)<br>|
| JPY | 68730 | USD | 486 | Standard Chartered Bank | 7/22/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (8)<br>|
| EUR | 110 | USD | 126 | Goldman Sachs | 7/24/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **144** |

---

------

American Funds Global Balanced Fund (continued)

**Forward currency contracts** (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Contract amount | Contract amount | Contract amount | Contract amount | Counterparty | &nbsp;&nbsp; Settlement<br> date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized<br> appreciation<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation)<br> at 6/30/2025<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| Currency purchased<br> (000) | Currency purchased<br> (000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Currency sold<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Currency sold<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) | Counterparty | &nbsp;&nbsp; Settlement<br> date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized<br> appreciation<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation)<br> at 6/30/2025<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| USD | 345 | EUR | 300 | HSBC Bank | 7/24/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(9)<br>|
| GBP | 457 | EUR | 530 | BNP Paribas | 7/25/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| EUR | 115 | USD | 136 | UBS AG | 7/25/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(o)</sup><br>|
| USD | 583 | EUR | 510 | UBS AG | 7/25/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (19)<br>|
| EUR | 396 | DKK | 2950 | Bank of America | 7/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(o)</sup><br>|
| USD | 367 | NOK | 3711 | Bank of America | 7/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| USD | 411 | INR | 35415 | BNP Paribas | 7/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2)<br>|
| USD | 569 | MXN | 10835 | Morgan Stanley | 7/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7)<br>|
| USD | 549 | CHF | 440 | Barclays Bank PLC | 7/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (8)<br>|
| USD | 59 | CZK | 1240 | Citibank | 8/6/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(o)</sup><br>|
| USD | 126 | SGD | 160 | Bank of America | 8/6/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(o)</sup><br>|
| USD | 378 | EUR | 325 | UBS AG | 8/6/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5)<br>|
| EUR | 188 | CAD | 300 | Citibank | 8/7/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| USD | 29349 | EUR | 25010 | Morgan Stanley | 8/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (193)<br>|
| GBP | 175 | USD | 240 | Morgan Stanley | 8/11/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(o)</sup><br>|
| EUR | 505 | USD | 580 | HSBC Bank | 9/12/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(321)<br>|

---

**Swap contracts**

------

**Interest rate swaps**

**Centrally cleared interest rate swaps** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | Receive | Pay | Pay | Expiration <br>date | Notional <br>amount <br>(000) | Value at <br>6/30/2025 <br>(000) | Upfront <br>premium <br>paid <br>(received) <br>(000) | Unrealized <br>appreciation <br>(depreciation) <br>at 6/30/2025 <br>(000) |
| Rate | Payment <br>frequency<br>| Rate | Payment <br>frequency<br>| Expiration <br>date | Notional <br>amount <br>(000) | Value at <br>6/30/2025 <br>(000) | Upfront <br>premium <br>paid <br>(received) <br>(000) | Unrealized <br>appreciation <br>(depreciation) <br>at 6/30/2025 <br>(000) |
| 3.79165% | Annual | SOFR | Annual | 1/13/2026 | USD865 | $(2)<br>| $— | $(2)<br>|
| 4.254% | Annual | SONIA | Annual | 5/9/2027 | GBP70 | 1 |  | 1 |
| 2.5225% | Semi-annual | Bank of Canada Overnight Repo | Semi-annual | 5/22/2027 | CAD2,970 | 2 |  | 2 |
| 3.5175% | Annual | SOFR | Annual | 8/15/2027 | USD2,500 | 3 |  | 3 |
| 4.98038% | Annual | SONIA | Annual | 6/21/2028 | GBP267 | 14 |  | 14 |
| 3.968% | Annual | SONIA | Annual | 2/16/2029 | GBP1,495 | 24 |  | 24 |
| SOFR | Annual | 3.29015% | Annual | 1/13/2030 | USD2,870 | 15 |  | 15 |
| 3.925% | Annual | 6-month NOK-NIBOR | Semi-annual | 3/5/2030 | NOK3,700 | 3 |  | 3 |
| 6-month EURIBOR | Semi-annual | 2.2577% | Annual | 3/5/2030 | EUR310 | — <br><sup>(o)</sup><br>|  | — <br><sup>(o)</sup><br>|
| 6-month EURIBOR | Semi-annual | 2.2592% | Annual | 3/5/2030 | EUR310 | — <br><sup>(o)</sup><br>|  | — <br><sup>(o)</sup><br>|
| 6-month EURIBOR | Semi-annual | 2.2562% | Annual | 3/5/2030 | EUR310 | — <br><sup>(o)</sup><br>|  | — <br><sup>(o)</sup><br>|
| 6-month EURIBOR | Semi-annual | 2.1912% | Annual | 3/6/2030 | EUR280 | 1 |  | 1 |
| 3.947% | Annual | SONIA | Annual | 3/20/2030 | GBP410 | 7 |  | 7 |
| 4.165% | Annual | 6-month NOK-NIBOR | Semi-annual | 3/24/2030 | NOK1,500 | 3 |  | 3 |
| 4.1703% | Annual | 6-month NOK-NIBOR | Semi-annual | 3/24/2030 | NOK960 | 2 |  | 2 |
| 4.162% | Annual | 6-month NOK-NIBOR | Semi-annual | 3/24/2030 | NOK970 | 1 |  | 1 |
| 4.165% | Annual | 6-month NOK-NIBOR | Semi-annual | 3/25/2030 | NOK3,540 | 6 |  | 6 |
| SONIA | Annual | 4.36738% | Annual | 6/21/2033 | GBP62 | (3)<br>|  | (3)<br>|
| SONIA | Annual | 3.9322% | Annual | 2/16/2054 | GBP375 | 44 |  | 44 |
|  |  |  |  |  |  | $121 | $— | $121 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **145** | American Funds Insurance Series |

---

------

American Funds Global Balanced Fund (continued)

**Swap contracts** (continued)

------

**Interest rate swaps** (continued)

**Bilateral interest rate swaps** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | Receive | Pay | Pay | Counterparty | &nbsp;&nbsp; Expiration <br>date | &nbsp;&nbsp; Notional <br>amount <br>(000) | &nbsp;&nbsp; Value at <br>6/30/2025 <br>(000) | &nbsp;&nbsp; Upfront <br>premium <br>paid <br>(received) <br>(000) | &nbsp;&nbsp; Unrealized <br>appreciation <br>(depreciation) <br>at 6/30/2025 <br>(000) |
| Rate | &nbsp;&nbsp; Payment <br>frequency<br>| Rate | &nbsp;&nbsp; Payment <br>frequency<br>| Counterparty | &nbsp;&nbsp; Expiration <br>date | &nbsp;&nbsp; Notional <br>amount <br>(000) | &nbsp;&nbsp; Value at <br>6/30/2025 <br>(000) | &nbsp;&nbsp; Upfront <br>premium <br>paid <br>(received) <br>(000) | &nbsp;&nbsp; Unrealized <br>appreciation <br>(depreciation) <br>at 6/30/2025 <br>(000) |
| 11.91% | At maturity | BZDIOVER | At maturity | Barclays Bank PLC | &nbsp;&nbsp; 1/4/2027 | &nbsp;&nbsp; BRL2,940 | &nbsp;&nbsp; $(20)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(20)<br>|
| 13.995% | At maturity | BZDIOVER | At maturity | Barclays Bank PLC | &nbsp;&nbsp; 1/2/2029 | &nbsp;&nbsp; BRL6,010 | &nbsp;&nbsp; 36 | &nbsp;&nbsp; — | &nbsp;&nbsp; 36 |
| 14.115% | At maturity | BZDIOVER | At maturity | Goldman Sachs | &nbsp;&nbsp; 1/2/2029 | &nbsp;&nbsp; BRL1,660 | &nbsp;&nbsp; 11 | &nbsp;&nbsp; — | &nbsp;&nbsp; 11 |
| 14.05% | At maturity | BZDIOVER | At maturity | Barclays Bank PLC | &nbsp;&nbsp; 1/2/2029 | &nbsp;&nbsp; BRL1,210 | &nbsp;&nbsp; 8 | &nbsp;&nbsp; — | &nbsp;&nbsp; 8 |
| 14.05% | At maturity | BZDIOVER | At maturity | Goldman Sachs | &nbsp;&nbsp; 1/2/2029 | &nbsp;&nbsp; BRL740 | &nbsp;&nbsp; 5 | &nbsp;&nbsp; — | &nbsp;&nbsp; 5 |
| 11.495% | At maturity | BZDIOVER | At maturity | Bank of America | &nbsp;&nbsp; 1/2/2029 | &nbsp;&nbsp; BRL3,810 | &nbsp;&nbsp; (42)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (42)<br>|
| 10.045% | At maturity | BZDIOVER | At maturity | Goldman Sachs | &nbsp;&nbsp; 1/2/2029 | &nbsp;&nbsp; BRL9,330 | &nbsp;&nbsp; (222)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (222)<br>|
|  |  |  |  |  |  |  | &nbsp;&nbsp; $(224)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(224)<br>|

---

**Credit default swaps** 

**Centrally cleared credit default swaps on credit indices — buy protection** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Reference <br>index<br>| &nbsp;&nbsp;&nbsp;&nbsp; Financing <br>rate paid<br>| &nbsp;&nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| &nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Value at <br>6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Upfront <br>premium <br>paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(received) <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| ITRAXX.EUR.43 | 1.00% | Quarterly | &nbsp;&nbsp;&nbsp;&nbsp; 6/20/2030 | &nbsp;&nbsp;&nbsp;&nbsp; EUR2,260 | &nbsp;&nbsp;&nbsp;&nbsp; $(57)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(25)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(32)<br>|

---

**Centrally cleared credit default swaps on credit indices — sell protection** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Reference <br>index<br>| &nbsp;&nbsp;&nbsp;&nbsp; Financing <br>rate received<br>| &nbsp;&nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| &nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <sup>(p)</sup> <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Value at <br>6/30/2025 <sup>(q)</sup> <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Upfront <br>premium <br>paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(received) <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| ITRAXX.EUR.XO.43 | 5.00% | Quarterly | &nbsp;&nbsp;&nbsp;&nbsp; 6/20/2030 | &nbsp;&nbsp;&nbsp;&nbsp; EUR1,130 | &nbsp;&nbsp;&nbsp;&nbsp; $124 | &nbsp;&nbsp;&nbsp;&nbsp; $119 | &nbsp;&nbsp;&nbsp;&nbsp; $5 |
| CDX.NA.IG.44 | 1.00% | Quarterly | &nbsp;&nbsp;&nbsp;&nbsp; 6/20/2030 | &nbsp;&nbsp;&nbsp;&nbsp; USD3,073 | &nbsp;&nbsp;&nbsp;&nbsp; 68 | &nbsp;&nbsp;&nbsp;&nbsp; 65 | &nbsp;&nbsp;&nbsp;&nbsp; 3 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; $192 | &nbsp;&nbsp;&nbsp;&nbsp; $184 | &nbsp;&nbsp;&nbsp;&nbsp; $8 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **146** |

---

------

American Funds Global Balanced Fund (continued)

**Investments in affiliates** <sup>(l)</sup>

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>1/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>6/30/2025 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Investment funds 0.98%** |  |  |  |  |  |  |  |
| Capital Group Central Corporate Bond Fund  | $3953 | &nbsp;&nbsp; $96 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $72 | &nbsp;&nbsp; $4121 | &nbsp;&nbsp; $96 |
| **Short-term securities 5.16%** |  |  |  |  |  |  |  |
| **Money market investments 5.16%** |  |  |  |  |  |  |  |
| Capital Group Central Cash Fund 4.35% <sup>(m)</sup>  | 22187 | &nbsp;&nbsp; 58601 | &nbsp;&nbsp; 59201 | &nbsp;&nbsp; (3)<br>| &nbsp;&nbsp; (2)<br>| &nbsp;&nbsp; 21582 | &nbsp;&nbsp; 541 |
| **Total 6.14%** |  |  |  | &nbsp;&nbsp; $(3)<br>| &nbsp;&nbsp; $70 | &nbsp;&nbsp; $25703 | &nbsp;&nbsp; $637 |

---

**Restricted securities** <sup>(g)</sup>

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Acquisition <br>date(s)<br>| Cost <br>(000)<br>| Value <br>(000)<br>| Percent <br>of net <br>assets<br>|
| Wells Fargo & Co. 3.90% 7/22/2032 (3-month EUR-EURIBOR + 1.22% on <br> 7/22/2031) <sup>(e)</sup> <br>| 12/4/2024 | $273 | $303 | 0.07<br> %<br>|
| McDonald's Corp. 1.60% 3/15/2031  | 9/30/2024 | 103 | 109 | 0.03 |
| **Total** |  | $376 | $412 | 0.10<br> %<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Security did not produce income during the last 12 months.

<sup>(b)</sup> All or a portion of this security was on loan. The total value of all such securities was $1,472,000, which represented 0.35% of the net assets of the fund. Refer to Note 5 for more information on securities lending. 

<sup>(c)</sup> Index-linked bond whose principal amount moves with a government price index. 

<sup>(d)</sup> Acquired in a transaction exempt from registration under Rule 144A or, for commercial paper, Section 4(a)(2) of the Securities Act of 1933. May be resold in the U.S. in transactions exempt from registration, normally to qualified institutional buyers. The total value of all such securities was $11,223,000, which represented 2.68% of the net assets of the fund. 

<sup>(e)</sup> Step bond; coupon rate may change at a later date.

<sup>(f)</sup> Securities referencing LIBOR are expected to transition to an alternative reference rate by the security's next scheduled coupon reset date.

<sup>(g)</sup> Restricted security, other than Rule 144A securities or commercial paper issued pursuant to Section 4(a)(2) of the Securities Act of 1933. The total value of all such restricted securities was $412,000, which represented 0.10% of the net assets of the fund. 

<sup>(h)</sup> Principal payments may be made periodically. Therefore, the effective maturity date may be earlier than the stated maturity date.

<sup>(i)</sup> Represents securities transacted on a TBA basis.

<sup>(j)</sup> Coupon rate may change periodically. Reference rate and spread are as of the most recent information available. Some coupon rates are determined by the issuer or agent based on current market conditions; therefore, the reference rate and spread are not available. 

<sup>(k)</sup> All or a portion of this security was pledged as collateral. The total value of pledged collateral was $2,261,000, which represented 0.54% of the net assets of the fund. 

<sup>(l)</sup> Part of the same "group of investment companies" as the fund as defined under the Investment Company Act of 1940, as amended.

<sup>(m)</sup> Rate represents the seven-day yield at 6/30/2025.

<sup>(n)</sup> Security purchased with cash collateral from securities on loan. Refer to Note 5 for more information on securities lending.

<sup>(o)</sup> Amount less than one thousand.

<sup>(p)</sup> The maximum potential amount the fund may pay as a protection seller should a credit event occur.

<sup>(q)</sup> The prices and resulting values for credit default swap indices serve as an indicator of the current status of the payment/performance risk. As the value of a sell protection credit default swap increases or decreases, when compared to the notional amount of the swap, the payment/performance risk may decrease or increase, respectively. 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **147** | American Funds Insurance Series |

---

------

American Funds Global Balanced Fund (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **Key to abbreviation(s)** |
| ADR = American Depositary Receipts |
| AUD = Australian dollars |
| BRL = Brazilian reais |
| BZDIOVER = Overnight Brazilian Interbank Deposit Rate |
| CAD = Canadian dollars |
| CHF = Swiss francs |
| CLO = Collateralized Loan Obligations |
| CLP = Chilean pesos |
| CME = CME Group |
| CNH = Chinese yuan renminbi |
| CNY = Chinese yuan renminbi |
| COP = Colombian pesos |
| CZK = Czech korunas |
| DKK = Danish kroner |
| EGP = Egyptian pounds |
| EUR = Euros |
| EURIBOR = Euro Interbank Offered Rate |
| GBP = British pounds |
| ICE = Intercontinental Exchange, Inc. |
| IDR = Indonesian rupiah |
| ILS = Israeli shekels |
| INR = Indian rupees |

---

---

| |
|:---|
| JPY = Japanese yen |
| KRW = South Korean won |
| LIBOR = London Interbank Offered Rate |
| MXN = Mexican pesos |
| MYR = Malaysian ringgits |
| NIBOR = Norwegian Interbank Offered Rate |
| NOK = Norwegian kroner |
| NZD = New Zealand dollars |
| PLN = Polish zloty |
| Ref. = Refunding |
| REIT = Real Estate Investment Trust |
| Rev. = Revenue |
| RON = Romanian leu |
| SEK = Swedish kronor |
| SGD = Singapore dollars |
| SOFR = Secured Overnight Financing Rate |
| SONIA = Sterling Overnight Interbank Average Rate |
| TBA = To be announced |
| USD = U.S. dollars |
| UST = U.S. Treasury |
| ZAR = South African rand |

---

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **148** |

---

------

The Bond Fund of America<sup>®</sup>

**Investment portfolio** June 30, 2025unaudited

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments 95.24% | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations 34.58%** | **Mortgage-backed obligations 34.58%** | **Mortgage-backed obligations 34.58%** |
| **Federal agency mortgage-backed obligations 27.75%** |  |  |
| Fannie Mae Pool #256133 4.50% 1/1/2026 <sup>(a)</sup>  | USD1 | $1 |
| Fannie Mae Pool #AR3058 3.00% 1/1/2028 <sup>(a)</sup>  | 25 | 25 |
| Fannie Mae Pool #AS8018 3.00% 9/1/2031 <sup>(a)</sup>  | 26 | 25 |
| Fannie Mae Pool #BM4741 3.00% 4/1/2032 <sup>(a)</sup>  | 12 | 11 |
| Fannie Mae Pool #FM2499 2.50% 2/1/2035 <sup>(a)</sup>  | 2084 | 1968 |
| Fannie Mae Pool #CB2248 2.50% 11/1/2036 <sup>(a)</sup>  | 99 | 92 |
| Fannie Mae Pool #913966 6.00% 2/1/2037 <sup>(a)</sup>  | 30 | 31 |
| Fannie Mae Pool #CB3701 2.50% 5/1/2037 <sup>(a)</sup>  | 1768 | 1652 |
| Fannie Mae Pool #MA4665 2.50% 7/1/2037 <sup>(a)</sup>  | 739 | 690 |
| Fannie Mae Pool #945680 6.00% 9/1/2037 <sup>(a)</sup>  | 326 | 342 |
| Fannie Mae Pool #924866 6.14% 10/1/2037 <sup>(a)(b)</sup>  | 128 | 129 |
| Fannie Mae Pool #988588 5.50% 8/1/2038 <sup>(a)</sup>  | 161 | 165 |
| Fannie Mae Pool #889982 5.50% 11/1/2038 <sup>(a)</sup>  | 642 | 660 |
| Fannie Mae Pool #AB1297 5.00% 8/1/2040 <sup>(a)</sup>  | 140 | 142 |
| Fannie Mae Pool #AH8144 5.00% 4/1/2041 <sup>(a)</sup>  | 703 | 707 |
| Fannie Mae Pool #AH9479 5.00% 4/1/2041 <sup>(a)</sup>  | 681 | 690 |
| Fannie Mae Pool #FM7365 2.00% 5/1/2041 <sup>(a)</sup>  | 107480 | 92775 |
| Fannie Mae Pool #AI1862 5.00% 5/1/2041 <sup>(a)</sup>  | 659 | 667 |
| Fannie Mae Pool #AI3510 5.00% 6/1/2041 <sup>(a)</sup>  | 346 | 350 |
| Fannie Mae Pool #AJ0704 5.00% 9/1/2041 <sup>(a)</sup>  | 310 | 315 |
| Fannie Mae Pool #AJ5391 5.00% 11/1/2041 <sup>(a)</sup>  | 175 | 177 |
| Fannie Mae Pool #AZ3904 4.00% 5/1/2045 <sup>(a)</sup>  | 39 | 36 |
| Fannie Mae Pool #FM9416 3.50% 7/1/2045 <sup>(a)</sup>  | 1616 | 1501 |
| Fannie Mae Pool #AL8522 3.50% 5/1/2046 <sup>(a)</sup>  | 694 | 644 |
| Fannie Mae Pool #BD1968 4.00% 7/1/2046 <sup>(a)</sup>  | 738 | 699 |
| Fannie Mae Pool #BD5477 4.00% 7/1/2046 <sup>(a)</sup>  | 119 | 113 |
| Fannie Mae Pool #BM5148 4.00% 10/1/2046 <sup>(a)</sup>  | 4331 | 4117 |
| Fannie Mae Pool #BE0592 4.00% 11/1/2046 <sup>(a)</sup>  | 294 | 274 |
| Fannie Mae Pool #BE8885 4.00% 3/1/2047 <sup>(a)</sup>  | 718 | 682 |
| Fannie Mae Pool #MA3058 4.00% 7/1/2047 <sup>(a)</sup>  | 33 | 31 |
| Fannie Mae Pool #CA0770 3.50% 11/1/2047 <sup>(a)</sup>  | 3882 | 3556 |
| Fannie Mae Pool #BJ1515 4.00% 11/1/2047 <sup>(a)</sup>  | 1806 | 1712 |
| Fannie Mae Pool #CA0706 4.00% 11/1/2047 <sup>(a)</sup>  | 68 | 65 |
| Fannie Mae Pool #BM4413 4.50% 12/1/2047 <sup>(a)</sup>  | 2106 | 2050 |
| Fannie Mae Pool #CA1189 3.50% 2/1/2048 <sup>(a)</sup>  | 1098 | 1005 |
| Fannie Mae Pool #BJ5749 4.00% 5/1/2048 <sup>(a)</sup>  | 14 | 13 |
| Fannie Mae Pool #BF0293 3.00% 7/1/2048 <sup>(a)</sup>  | 5389 | 4782 |
| Fannie Mae Pool #BF0318 3.50% 8/1/2048 <sup>(a)</sup>  | 4077 | 3720 |
| Fannie Mae Pool #BM5349 4.00% 9/1/2048 <sup>(a)</sup>  | 17796 | 16865 |
| Fannie Mae Pool #FM4891 3.50% 10/1/2048 <sup>(a)</sup>  | 16585 | 15335 |
| Fannie Mae Pool #BM4676 4.00% 10/1/2048 <sup>(a)</sup>  | 10 | 9 |
| Fannie Mae Pool #FM3280 3.50% 5/1/2049 <sup>(a)</sup>  | 419 | 390 |
| Fannie Mae Pool #CA3807 3.00% 7/1/2049 <sup>(a)</sup>  | 1136 | 1011 |
| Fannie Mae Pool #CA3806 3.00% 7/1/2049 <sup>(a)</sup>  | 757 | 675 |
| Fannie Mae Pool #FS5372 3.50% 7/1/2049 <sup>(a)</sup>  | 2186 | 2014 |
| Fannie Mae Pool #FM1262 4.00% 7/1/2049 <sup>(a)</sup>  | 17711 | 16743 |
| Fannie Mae Pool #FM0007 3.50% 9/1/2049 <sup>(a)</sup>  | 12601 | 11515 |
| Fannie Mae Pool #FM1589 3.50% 9/1/2049 <sup>(a)</sup>  | 3335 | 3040 |
| Fannie Mae Pool #FM1954 3.50% 11/1/2049 <sup>(a)</sup>  | 5246 | 4780 |
| Fannie Mae Pool #FS5313 3.50% 1/1/2050 <sup>(a)</sup>  | 25007 | 22957 |
| Fannie Mae Pool #CA5504 2.50% 4/1/2050 <sup>(a)</sup>  | 11 | 9 |
| Fannie Mae Pool #CA5968 2.50% 6/1/2050 <sup>(a)</sup>  | 4987 | 4205 |
| Fannie Mae Pool #CA6168 2.50% 6/1/2050 <sup>(a)</sup>  | 532 | 443 |
| Fannie Mae Pool #FM5507 3.00% 7/1/2050 <sup>(a)</sup>  | 15444 | 13669 |
| Fannie Mae Pool #CA6309 3.00% 7/1/2050 <sup>(a)</sup>  | 5242 | 4672 |
| Fannie Mae Pool #CA6349 3.00% 7/1/2050 <sup>(a)</sup>  | 1684 | 1466 |
| Fannie Mae Pool #CA6727 2.50% 8/1/2050 <sup>(a)</sup>  | 4698 | 3912 |
| Fannie Mae Pool #CA6918 2.50% 8/1/2050 <sup>(a)</sup>  | 965 | 802 |
| Fannie Mae Pool #FP0058 2.50% 8/1/2050 <sup>(a)</sup>  | 610 | 507 |
| Fannie Mae Pool #CA6740 3.00% 8/1/2050 <sup>(a)</sup>  | 956 | 832 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **149** | American Funds Insurance Series |

---

------

The Bond Fund of America<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** |  |  |
| Fannie Mae Pool #BQ1226 2.00% 9/1/2050 <sup>(a)</sup>  | USD1,627 | $1298 |
| Fannie Mae Pool #BP6715 2.00% 9/1/2050 <sup>(a)</sup>  | 1 | 1 |
| Fannie Mae Pool #CA7040 2.50% 9/1/2050 <sup>(a)</sup>  | 17165 | 14257 |
| Fannie Mae Pool #FM4256 2.50% 9/1/2050 <sup>(a)</sup>  | 2635 | 2226 |
| Fannie Mae Pool #CA7028 2.50% 9/1/2050 <sup>(a)</sup>  | 896 | 757 |
| Fannie Mae Pool #FM7195 2.50% 9/1/2050 <sup>(a)</sup>  | 423 | 351 |
| Fannie Mae Pool #CA7052 3.00% 9/1/2050 <sup>(a)</sup>  | 306 | 268 |
| Fannie Mae Pool #CA7529 2.50% 10/1/2050 <sup>(a)</sup>  | 902 | 749 |
| Fannie Mae Pool #CA7257 2.50% 10/1/2050 <sup>(a)</sup>  | 255 | 215 |
| Fannie Mae Pool #FM4684 2.50% 10/1/2050 <sup>(a)</sup>  | 191 | 159 |
| Fannie Mae Pool #FP0034 2.50% 10/1/2050 <sup>(a)</sup>  | 179 | 149 |
| Fannie Mae Pool #CA7381 3.00% 10/1/2050 <sup>(a)</sup>  | 1485 | 1292 |
| Fannie Mae Pool #FM4870 2.00% 11/1/2050 <sup>(a)</sup>  | 1809 | 1434 |
| Fannie Mae Pool #CA7599 2.50% 11/1/2050 <sup>(a)</sup>  | 6060 | 5121 |
| Fannie Mae Pool #FM5309 2.50% 11/1/2050 <sup>(a)</sup>  | 1123 | 933 |
| Fannie Mae Pool #BQ7564 2.50% 11/1/2050 <sup>(a)</sup>  | 659 | 548 |
| Fannie Mae Pool #CA7743 2.50% 11/1/2050 <sup>(a)</sup>  | 25 | 21 |
| Fannie Mae Pool #FM4897 3.00% 11/1/2050 <sup>(a)</sup>  | 15025 | 13416 |
| Fannie Mae Pool #MA4208 2.00% 12/1/2050 <sup>(a)</sup>  | 1045 | 834 |
| Fannie Mae Pool #FM5166 3.00% 12/1/2050 <sup>(a)</sup>  | 1022 | 889 |
| Fannie Mae Pool #MA4237 2.00% 1/1/2051 <sup>(a)</sup>  | 6554 | 5230 |
| Fannie Mae Pool #BR4104 2.00% 1/1/2051 <sup>(a)</sup>  | 5062 | 4049 |
| Fannie Mae Pool #CA8587 2.00% 1/1/2051 <sup>(a)</sup>  | 41 | 33 |
| Fannie Mae Pool #FM6113 2.50% 1/1/2051 <sup>(a)</sup>  | 21322 | 17821 |
| Fannie Mae Pool #FS5929 2.50% 1/1/2051 <sup>(a)</sup>  | 1550 | 1289 |
| Fannie Mae Pool #FS3550 2.50% 1/1/2051 <sup>(a)</sup>  | 934 | 776 |
| Fannie Mae Pool #FM6293 3.00% 1/1/2051 <sup>(a)</sup>  | 64 | 56 |
| Fannie Mae Pool #BR3283 2.00% 2/1/2051 <sup>(a)</sup>  | 3278 | 2599 |
| Fannie Mae Pool #FM6332 2.00% 2/1/2051 <sup>(a)</sup>  | 717 | 568 |
| Fannie Mae Pool #BR2666 2.00% 2/1/2051 <sup>(a)</sup>  | 377 | 303 |
| Fannie Mae Pool #CA8828 2.50% 2/1/2051 <sup>(a)</sup>  | 5016 | 4234 |
| Fannie Mae Pool #CA9289 2.50% 2/1/2051 <sup>(a)</sup>  | 3501 | 2911 |
| Fannie Mae Pool #FM6556 2.00% 3/1/2051 <sup>(a)</sup>  | 348 | 276 |
| Fannie Mae Pool #FM6764 2.50% 3/1/2051 <sup>(a)</sup>  | 7432 | 6170 |
| Fannie Mae Pool #CA9390 2.50% 3/1/2051 <sup>(a)</sup>  | 1720 | 1428 |
| Fannie Mae Pool #BQ7729 2.50% 3/1/2051 <sup>(a)</sup>  | 966 | 802 |
| Fannie Mae Pool #BR3771 2.00% 4/1/2051 <sup>(a)</sup>  | 8557 | 6789 |
| Fannie Mae Pool #BR7191 2.00% 4/1/2051 <sup>(a)</sup>  | 1832 | 1452 |
| Fannie Mae Pool #BR7719 2.00% 4/1/2051 <sup>(a)</sup>  | 572 | 453 |
| Fannie Mae Pool #MA4305 2.00% 4/1/2051 <sup>(a)</sup>  | 28 | 23 |
| Fannie Mae Pool #BN9135 2.50% 4/1/2051 <sup>(a)</sup>  | 4948 | 4108 |
| Fannie Mae Pool #FM6871 2.50% 4/1/2051 <sup>(a)</sup>  | 4637 | 3850 |
| Fannie Mae Pool #MA4306 2.50% 4/1/2051 <sup>(a)</sup>  | 2463 | 2058 |
| Fannie Mae Pool #FS0030 2.50% 4/1/2051 <sup>(a)</sup>  | 172 | 143 |
| Fannie Mae Pool #FM6965 2.50% 4/1/2051 <sup>(a)</sup>  | 116 | 97 |
| Fannie Mae Pool #CB0191 3.00% 4/1/2051 <sup>(a)</sup>  | 3041 | 2658 |
| Fannie Mae Pool #CB0193 3.00% 4/1/2051 <sup>(a)</sup>  | 375 | 328 |
| Fannie Mae Pool #BT0519 2.00% 5/1/2051 <sup>(a)</sup>  | 10603 | 8405 |
| Fannie Mae Pool #FM7411 2.00% 5/1/2051 <sup>(a)</sup>  | 1779 | 1410 |
| Fannie Mae Pool #BR1035 2.00% 5/1/2051 <sup>(a)</sup>  | 17 | 13 |
| Fannie Mae Pool #FM7325 2.50% 5/1/2051 <sup>(a)</sup>  | 1906 | 1590 |
| Fannie Mae Pool #CB0396 2.50% 5/1/2051 <sup>(a)</sup>  | 1800 | 1494 |
| Fannie Mae Pool #FM7408 2.50% 5/1/2051 <sup>(a)</sup>  | 590 | 490 |
| Fannie Mae Pool #BR0999 2.50% 5/1/2051 <sup>(a)</sup>  | 475 | 394 |
| Fannie Mae Pool #FM7409 2.50% 5/1/2051 <sup>(a)</sup>  | 162 | 135 |
| Fannie Mae Pool #FM7222 2.50% 5/1/2051 <sup>(a)</sup>  | 33 | 27 |
| Fannie Mae Pool #FM7304 2.50% 5/1/2051 <sup>(a)</sup>  | 27 | 23 |
| Fannie Mae Pool #BT0136 2.00% 6/1/2051 <sup>(a)</sup>  | 1879 | 1489 |
| Fannie Mae Pool #FM7803 2.00% 6/1/2051 <sup>(a)</sup>  | 503 | 405 |
| Fannie Mae Pool #FM7740 2.50% 6/1/2051 <sup>(a)</sup>  | 47 | 39 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **150** |

---

------

The Bond Fund of America<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** |  |  |
| Fannie Mae Pool #FM7909 3.00% 6/1/2051 <sup>(a)</sup>  | USD277 | $242 |
| Fannie Mae Pool #FM7510 3.00% 6/1/2051 <sup>(a)</sup>  | 197 | 172 |
| Fannie Mae Pool #MA4378 2.00% 7/1/2051 <sup>(a)</sup>  | 77 | 61 |
| Fannie Mae Pool #CB0988 2.50% 7/1/2051 <sup>(a)</sup>  | 8722 | 7332 |
| Fannie Mae Pool #BT0849 2.50% 7/1/2051 <sup>(a)</sup>  | 4773 | 3965 |
| Fannie Mae Pool #FM9530 2.50% 7/1/2051 <sup>(a)</sup>  | 4453 | 3697 |
| Fannie Mae Pool #FM8315 2.50% 7/1/2051 <sup>(a)</sup>  | 996 | 829 |
| Fannie Mae Pool #CB1134 2.50% 7/1/2051 <sup>(a)</sup>  | 928 | 770 |
| Fannie Mae Pool #BT1288 2.50% 7/1/2051 <sup>(a)</sup>  | 573 | 475 |
| Fannie Mae Pool #FM7900 2.50% 7/1/2051 <sup>(a)</sup>  | 427 | 360 |
| Fannie Mae Pool #CB1066 2.50% 7/1/2051 <sup>(a)</sup>  | 216 | 181 |
| Fannie Mae Pool #CB1304 3.00% 8/1/2051 <sup>(a)</sup>  | 1347 | 1186 |
| Fannie Mae Pool #BT7309 2.00% 9/1/2051 <sup>(a)</sup>  | 10828 | 8583 |
| Fannie Mae Pool #FS1630 2.50% 9/1/2051 <sup>(a)</sup>  | 3121 | 2591 |
| Fannie Mae Pool #FM8761 2.50% 9/1/2051 <sup>(a)</sup>  | 1964 | 1631 |
| Fannie Mae Pool #CB1527 2.50% 9/1/2051 <sup>(a)</sup>  | 1043 | 874 |
| Fannie Mae Pool #CB1552 2.50% 9/1/2051 <sup>(a)</sup>  | 487 | 406 |
| Fannie Mae Pool #FS4711 2.50% 9/1/2051 <sup>(a)</sup>  | 437 | 363 |
| Fannie Mae Pool #BQ7428 2.50% 9/1/2051 <sup>(a)</sup>  | 316 | 264 |
| Fannie Mae Pool #BT7263 2.50% 9/1/2051 <sup>(a)</sup>  | 302 | 251 |
| Fannie Mae Pool #FM8692 2.50% 9/1/2051 <sup>(a)</sup>  | 56 | 46 |
| Fannie Mae Pool #FM8827 2.00% 10/1/2051 <sup>(a)</sup>  | 1653 | 1311 |
| Fannie Mae Pool #FS5125 2.50% 10/1/2051 <sup>(a)</sup>  | 319 | 265 |
| Fannie Mae Pool #FS4628 3.00% 10/1/2051 <sup>(a)</sup>  | 3092 | 2702 |
| Fannie Mae Pool #MA4465 2.00% 11/1/2051 <sup>(a)</sup>  | 4430 | 3521 |
| Fannie Mae Pool #FS0965 2.00% 11/1/2051 <sup>(a)</sup>  | 128 | 102 |
| Fannie Mae Pool #CB2088 2.50% 11/1/2051 <sup>(a)</sup>  | 94 | 78 |
| Fannie Mae Pool #FM9810 3.00% 11/1/2051 <sup>(a)</sup>  | 904 | 788 |
| Fannie Mae Pool #MA4492 2.00% 12/1/2051 <sup>(a)</sup>  | 812 | 646 |
| Fannie Mae Pool #FM9672 2.50% 12/1/2051 <sup>(a)</sup>  | 1934 | 1606 |
| Fannie Mae Pool #CB2787 3.50% 12/1/2051 <sup>(a)</sup>  | 21 | 19 |
| Fannie Mae Pool #BQ7006 2.00% 1/1/2052 <sup>(a)</sup>  | 1846 | 1466 |
| Fannie Mae Pool #BU7233 2.00% 1/1/2052 <sup>(a)</sup>  | 933 | 740 |
| Fannie Mae Pool #FS6479 2.50% 1/1/2052 <sup>(a)</sup>  | 4462 | 3710 |
| Fannie Mae Pool #FS0392 2.50% 1/1/2052 <sup>(a)</sup>  | 2098 | 1741 |
| Fannie Mae Pool #FS4203 2.50% 1/1/2052 <sup>(a)</sup>  | 1126 | 935 |
| Fannie Mae Pool #FS5613 2.50% 1/1/2052 <sup>(a)</sup>  | 337 | 280 |
| Fannie Mae Pool #FS0454 3.00% 1/1/2052 <sup>(a)</sup>  | 969 | 848 |
| Fannie Mae Pool #BV3076 2.00% 2/1/2052 <sup>(a)</sup>  | 15112 | 11989 |
| Fannie Mae Pool #MA4547 2.00% 2/1/2052 <sup>(a)</sup>  | 2497 | 1984 |
| Fannie Mae Pool #BV3083 2.00% 2/1/2052 <sup>(a)</sup>  | 809 | 642 |
| Fannie Mae Pool #BT1967 2.50% 2/1/2052 <sup>(a)</sup>  | 1648 | 1374 |
| Fannie Mae Pool #MA4548 2.50% 2/1/2052 <sup>(a)</sup>  | 885 | 737 |
| Fannie Mae Pool #FS1080 2.50% 2/1/2052 <sup>(a)</sup>  | 731 | 607 |
| Fannie Mae Pool #FS2660 2.50% 2/1/2052 <sup>(a)</sup>  | 488 | 406 |
| Fannie Mae Pool #FS1885 2.50% 2/1/2052 <sup>(a)</sup>  | 441 | 366 |
| Fannie Mae Pool #CB3099 2.50% 2/1/2052 <sup>(a)</sup>  | 256 | 213 |
| Fannie Mae Pool #FS0647 3.00% 2/1/2052 <sup>(a)</sup>  | 32666 | 28775 |
| Fannie Mae Pool #BV3101 2.00% 3/1/2052 <sup>(a)</sup>  | 1573 | 1247 |
| Fannie Mae Pool #MA4562 2.00% 3/1/2052 <sup>(a)</sup>  | 1256 | 997 |
| Fannie Mae Pool #FS1742 2.00% 3/1/2052 <sup>(a)</sup>  | 1073 | 853 |
| Fannie Mae Pool #BV4172 2.00% 3/1/2052 <sup>(a)</sup>  | 867 | 687 |
| Fannie Mae Pool #BV4133 2.50% 3/1/2052 <sup>(a)</sup>  | 2759 | 2291 |
| Fannie Mae Pool #CB3031 2.50% 3/1/2052 <sup>(a)</sup>  | 1766 | 1472 |
| Fannie Mae Pool #FS4433 2.50% 3/1/2052 <sup>(a)</sup>  | 642 | 535 |
| Fannie Mae Pool #BV4119 2.50% 3/1/2052 <sup>(a)</sup>  | 359 | 300 |
| Fannie Mae Pool #MA4563 2.50% 3/1/2052 <sup>(a)</sup>  | 35 | 29 |
| Fannie Mae Pool #FS1598 2.00% 4/1/2052 <sup>(a)</sup>  | 1663 | 1321 |
| Fannie Mae Pool #MA4577 2.00% 4/1/2052 <sup>(a)</sup>  | 750 | 596 |
| Fannie Mae Pool #CB3354 2.50% 4/1/2052 <sup>(a)</sup>  | 31581 | 26219 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **151** | American Funds Insurance Series |

---

------

The Bond Fund of America<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** |  |  |
| Fannie Mae Pool #BV4656 2.50% 4/1/2052 <sup>(a)</sup>  | USD1,597 | $1329 |
| Fannie Mae Pool #CB3379 4.00% 4/1/2052 <sup>(a)</sup>  | 1455 | 1358 |
| Fannie Mae Pool #FS1655 4.00% 4/1/2052 <sup>(a)</sup>  | 264 | 246 |
| Fannie Mae Pool #FS9189 2.00% 5/1/2052 <sup>(a)</sup>  | 3727 | 2963 |
| Fannie Mae Pool #FS8650 2.50% 5/1/2052 <sup>(a)</sup>  | 20741 | 17232 |
| Fannie Mae Pool #BV9644 2.50% 5/1/2052 <sup>(a)</sup>  | 2186 | 1821 |
| Fannie Mae Pool #MA4598 2.50% 5/1/2052 <sup>(a)</sup>  | 968 | 805 |
| Fannie Mae Pool #MA4623 2.50% 6/1/2052 <sup>(a)</sup>  | 150 | 125 |
| Fannie Mae Pool #CB4021 4.00% 6/1/2052 <sup>(a)</sup>  | 3018 | 2816 |
| Fannie Mae Pool #BW1931 5.00% 6/1/2052 <sup>(a)</sup>  | 3072 | 3024 |
| Fannie Mae Pool #BT8262 5.00% 6/1/2052 <sup>(a)</sup>  | 1375 | 1356 |
| Fannie Mae Pool #FS6631 2.50% 7/1/2052 <sup>(a)</sup>  | 738 | 614 |
| Fannie Mae Pool #CB4274 2.50% 7/1/2052 <sup>(a)</sup>  | 432 | 358 |
| Fannie Mae Pool #FS5493 2.50% 7/1/2052 <sup>(a)</sup>  | 136 | 113 |
| Fannie Mae Pool #BW0959 5.00% 7/1/2052 <sup>(a)</sup>  | 2813 | 2773 |
| Fannie Mae Pool #BV8976 5.00% 8/1/2052 <sup>(a)</sup>  | 568 | 563 |
| Fannie Mae Pool #FS2805 2.50% 9/1/2052 <sup>(a)</sup>  | 453 | 377 |
| Fannie Mae Pool #BW1192 4.50% 9/1/2052 <sup>(a)</sup>  | 255 | 244 |
| Fannie Mae Pool #BW8497 4.50% 9/1/2052 <sup>(a)</sup>  | 59 | 56 |
| Fannie Mae Pool #CB4620 5.00% 9/1/2052 <sup>(a)</sup>  | 8469 | 8374 |
| Fannie Mae Pool #FS3056 2.00% 10/1/2052 <sup>(a)</sup>  | 9096 | 7216 |
| Fannie Mae Pool #CB4852 4.50% 10/1/2052 <sup>(a)</sup>  | 9772 | 9371 |
| Fannie Mae Pool #BX0097 4.50% 10/1/2052 <sup>(a)</sup>  | 2518 | 2418 |
| Fannie Mae Pool #MA4785 5.00% 10/1/2052 <sup>(a)</sup>  | 2466 | 2430 |
| Fannie Mae Pool #BW1289 5.50% 10/1/2052 <sup>(a)</sup>  | 2770 | 2780 |
| Fannie Mae Pool #BW1243 5.50% 10/1/2052 <sup>(a)</sup>  | 2519 | 2530 |
| Fannie Mae Pool #MA4820 6.50% 10/1/2052 <sup>(a)</sup>  | 205 | 214 |
| Fannie Mae Pool #BX1132 4.50% 11/1/2052 <sup>(a)</sup>  | 847 | 812 |
| Fannie Mae Pool #BX5673 5.00% 12/1/2052 <sup>(a)</sup>  | 133 | 130 |
| Fannie Mae Pool #CB5778 6.00% 12/1/2052 <sup>(a)</sup>  | 37 | 37 |
| Fannie Mae Pool #BX5927 4.00% 1/1/2053 <sup>(a)</sup>  | 272 | 253 |
| Fannie Mae Pool #FS6769 5.00% 1/1/2053 <sup>(a)</sup>  | 30348 | 29904 |
| Fannie Mae Pool #FS4435 2.50% 2/1/2053 <sup>(a)</sup>  | 687 | 570 |
| Fannie Mae Pool #MA4916 4.00% 2/1/2053 <sup>(a)</sup>  | 4621 | 4302 |
| Fannie Mae Pool #MA4918 5.00% 2/1/2053 <sup>(a)</sup>  | 593 | 584 |
| Fannie Mae Pool #BW5268 4.00% 3/1/2053 <sup>(a)</sup>  | 407 | 379 |
| Fannie Mae Pool #CB5986 5.00% 3/1/2053 <sup>(a)</sup>  | 151 | 149 |
| Fannie Mae Pool #BX7779 5.50% 3/1/2053 <sup>(a)</sup>  | 4058 | 4079 |
| Fannie Mae Pool #FS4191 5.50% 3/1/2053 <sup>(a)</sup>  | 423 | 426 |
| Fannie Mae Pool #BX7949 6.00% 3/1/2053 <sup>(a)</sup>  | 1000 | 1018 |
| Fannie Mae Pool #CB5912 6.00% 3/1/2053 <sup>(a)</sup>  | 835 | 855 |
| Fannie Mae Pool #MA4993 4.00% 4/1/2053 <sup>(a)</sup>  | 4281 | 3986 |
| Fannie Mae Pool #MA4977 4.50% 4/1/2053 <sup>(a)</sup>  | 656 | 629 |
| Fannie Mae Pool #MA4978 5.00% 4/1/2053 <sup>(a)</sup>  | 15642 | 15388 |
| Fannie Mae Pool #BX9041 5.00% 4/1/2053 <sup>(a)</sup>  | 88 | 87 |
| Fannie Mae Pool #BY0130 5.50% 4/1/2053 <sup>(a)</sup>  | 960 | 965 |
| Fannie Mae Pool #CB6033 6.00% 4/1/2053 <sup>(a)</sup>  | 17738 | 18159 |
| Fannie Mae Pool #MA5027 4.00% 5/1/2053 <sup>(a)</sup>  | 4697 | 4377 |
| Fannie Mae Pool #CB6985 4.00% 5/1/2053 <sup>(a)</sup>  | 432 | 403 |
| Fannie Mae Pool #CB6297 4.00% 5/1/2053 <sup>(a)</sup>  | 30 | 28 |
| Fannie Mae Pool #BX9827 5.00% 5/1/2053 <sup>(a)</sup>  | 10478 | 10313 |
| Fannie Mae Pool #FS4563 5.00% 5/1/2053 <sup>(a)</sup>  | 2900 | 2865 |
| Fannie Mae Pool #MA5009 5.00% 5/1/2053 <sup>(a)</sup>  | 2760 | 2714 |
| Fannie Mae Pool #MA5010 5.50% 5/1/2053 <sup>(a)</sup>  | 5894 | 5907 |
| Fannie Mae Pool #MA5011 6.00% 5/1/2053 <sup>(a)</sup>  | 7060 | 7203 |
| Fannie Mae Pool #BW9618 3.00% 6/1/2053 <sup>(a)</sup>  | 615 | 533 |
| Fannie Mae Pool #CB6471 4.50% 6/1/2053 <sup>(a)</sup>  | 2902 | 2782 |
| Fannie Mae Pool #FS5192 5.50% 6/1/2053 <sup>(a)</sup>  | 6679 | 6694 |
| Fannie Mae Pool #MA5039 5.50% 6/1/2053 <sup>(a)</sup>  | 6347 | 6360 |
| Fannie Mae Pool #BY3612 5.50% 6/1/2053 <sup>(a)</sup>  | 311 | 312 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **152** |

---

------

The Bond Fund of America<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** |  |  |
| Fannie Mae Pool #CB6485 6.00% 6/1/2053 <sup>(a)</sup>  | USD3,837 | $3904 |
| Fannie Mae Pool #CB6486 6.00% 6/1/2053 <sup>(a)</sup>  | 2380 | 2432 |
| Fannie Mae Pool #CB6465 6.00% 6/1/2053 <sup>(a)</sup>  | 1799 | 1841 |
| Fannie Mae Pool #FS7823 2.00% 7/1/2053 <sup>(a)</sup>  | 6068 | 4820 |
| Fannie Mae Pool #FS9167 2.50% 7/1/2053 <sup>(a)</sup>  | 3642 | 3024 |
| Fannie Mae Pool #FS6037 2.50% 7/1/2053 <sup>(a)</sup>  | 152 | 126 |
| Fannie Mae Pool #CB6626 4.00% 7/1/2053 <sup>(a)</sup>  | 75 | 70 |
| Fannie Mae Pool #MA5070 4.50% 7/1/2053 <sup>(a)</sup>  | 19842 | 19022 |
| Fannie Mae Pool #BY4459 5.00% 7/1/2053 <sup>(a)</sup>  | 591 | 583 |
| Fannie Mae Pool #BU4112 5.00% 7/1/2053 <sup>(a)</sup>  | 93 | 92 |
| Fannie Mae Pool #MA5072 5.50% 7/1/2053 <sup>(a)</sup>  | 3400 | 3407 |
| Fannie Mae Pool #CB6768 6.50% 7/1/2053 <sup>(a)</sup>  | 7908 | 8229 |
| Fannie Mae Pool #MA5107 5.50% 8/1/2053 <sup>(a)</sup>  | 23480 | 23524 |
| Fannie Mae Pool #FS6666 5.50% 8/1/2053 <sup>(a)</sup>  | 12744 | 12787 |
| Fannie Mae Pool #CB7108 5.50% 9/1/2053 <sup>(a)</sup>  | 6200 | 6224 |
| Fannie Mae Pool #CB7104 5.50% 9/1/2053 <sup>(a)</sup>  | 531 | 532 |
| Fannie Mae Pool #MA5139 6.00% 9/1/2053 <sup>(a)</sup>  | 5000 | 5091 |
| Fannie Mae Pool #FS5749 6.50% 9/1/2053 <sup>(a)</sup>  | 15338 | 15862 |
| Fannie Mae Pool #MA5177 4.00% 10/1/2053 <sup>(a)</sup>  | 7575 | 7055 |
| Fannie Mae Pool #CB7332 5.50% 10/1/2053 <sup>(a)</sup>  | 11829 | 11871 |
| Fannie Mae Pool #CB7331 5.50% 10/1/2053 <sup>(a)</sup>  | 6558 | 6583 |
| Fannie Mae Pool #CB7725 6.00% 10/1/2053 <sup>(a)</sup>  | 8769 | 8929 |
| Fannie Mae Pool #DA1557 6.00% 10/1/2053 <sup>(a)</sup>  | 152 | 154 |
| Fannie Mae Pool #FS7252 5.00% 11/1/2053 <sup>(a)</sup>  | 63161 | 62069 |
| Fannie Mae Pool #CB7426 6.50% 11/1/2053 <sup>(a)</sup>  | 2116 | 2196 |
| Fannie Mae Pool #FS6668 5.50% 12/1/2053 <sup>(a)</sup>  | 1917 | 1920 |
| Fannie Mae Pool #CB7626 6.50% 12/1/2053 <sup>(a)</sup>  | 774 | 806 |
| Fannie Mae Pool #MA5218 7.00% 12/1/2053 <sup>(a)</sup>  | 965 | 1018 |
| Fannie Mae Pool #FS6767 6.50% 1/1/2054 <sup>(a)</sup>  | 5281 | 5488 |
| Fannie Mae Pool #FS6873 6.50% 1/1/2054 <sup>(a)</sup>  | 1292 | 1336 |
| Fannie Mae Pool #FS9507 4.50% 2/1/2054 <sup>(a)</sup>  | 2980 | 2855 |
| Fannie Mae Pool #MA5271 5.50% 2/1/2054 <sup>(a)</sup>  | 2613 | 2616 |
| Fannie Mae Pool #FS6809 5.50% 2/1/2054 <sup>(a)</sup>  | 1777 | 1779 |
| Fannie Mae Pool #FS7031 6.00% 2/1/2054 <sup>(a)</sup>  | 7083 | 7251 |
| Fannie Mae Pool #FS7503 6.00% 2/1/2054 <sup>(a)</sup>  | 5296 | 5387 |
| Fannie Mae Pool #CB8422 6.00% 2/1/2054 <sup>(a)</sup>  | 1902 | 1936 |
| Fannie Mae Pool #DA7831 6.00% 2/1/2054 <sup>(a)</sup>  | 1771 | 1802 |
| Fannie Mae Pool #BY8083 4.00% 3/1/2054 <sup>(a)</sup>  | 25 | 23 |
| Fannie Mae Pool #FS9508 4.50% 3/1/2054 <sup>(a)</sup>  | 14405 | 13808 |
| Fannie Mae Pool #CB8151 5.50% 3/1/2054 <sup>(a)</sup>  | 19135 | 19189 |
| Fannie Mae Pool #MA5296 5.50% 3/1/2054 <sup>(a)</sup>  | 1607 | 1608 |
| Fannie Mae Pool #FS7507 6.00% 3/1/2054 <sup>(a)</sup>  | 5058 | 5178 |
| Fannie Mae Pool #CB8168 6.00% 3/1/2054 <sup>(a)</sup>  | 3391 | 3455 |
| Fannie Mae Pool #MA5295 6.00% 3/1/2054 <sup>(a)</sup>  | 1742 | 1773 |
| Fannie Mae Pool #FS7653 6.50% 3/1/2054 <sup>(a)</sup>  | 4359 | 4537 |
| Fannie Mae Pool #CB8328 5.50% 4/1/2054 <sup>(a)</sup>  | 4987 | 5023 |
| Fannie Mae Pool #DB1235 6.00% 4/1/2054 <sup>(a)</sup>  | 5405 | 5542 |
| Fannie Mae Pool #DB5160 5.50% 5/1/2054 <sup>(a)</sup>  | 594 | 596 |
| Fannie Mae Pool #MA5354 6.00% 5/1/2054 <sup>(a)</sup>  | 384 | 391 |
| Fannie Mae Pool #DB2495 6.00% 5/1/2054 <sup>(a)</sup>  | 228 | 232 |
| Fannie Mae Pool #MA5388 5.50% 6/1/2054 <sup>(a)</sup>  | 2702 | 2704 |
| Fannie Mae Pool #FS8131 5.50% 6/1/2054 <sup>(a)</sup>  | 1869 | 1879 |
| Fannie Mae Pool #FS8153 6.00% 6/1/2054 <sup>(a)</sup>  | 18915 | 19367 |
| Fannie Mae Pool #CB8755 6.00% 6/1/2054 <sup>(a)</sup>  | 1261 | 1291 |
| Fannie Mae Pool #DB5030 6.00% 6/1/2054 <sup>(a)</sup>  | 1195 | 1216 |
| Fannie Mae Pool #CB8725 6.50% 6/1/2054 <sup>(a)</sup>  | 10755 | 11178 |
| Fannie Mae Pool #CB8842 5.50% 7/1/2054 <sup>(a)</sup>  | 6987 | 6999 |
| Fannie Mae Pool #FS8467 5.50% 7/1/2054 <sup>(a)</sup>  | 1490 | 1499 |
| Fannie Mae Pool #MA5421 6.00% 7/1/2054 <sup>(a)</sup>  | 33148 | 33719 |
| Fannie Mae Pool #FS8318 6.00% 7/1/2054 <sup>(a)</sup>  | 5109 | 5243 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **153** | American Funds Insurance Series |

---

------

The Bond Fund of America<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** |  |  |
| Fannie Mae Pool #CB8858 6.00% 7/1/2054 <sup>(a)</sup>  | USD2,600 | $2655 |
| Fannie Mae Pool #DB6901 6.00% 7/1/2054 <sup>(a)</sup>  | 2391 | 2433 |
| Fannie Mae Pool #FS8591 6.00% 7/1/2054 <sup>(a)</sup>  | 2197 | 2255 |
| Fannie Mae Pool #DB7685 6.00% 7/1/2054 <sup>(a)</sup>  | 1316 | 1340 |
| Fannie Mae Pool #BU4707 6.00% 7/1/2054 <sup>(a)</sup>  | 1237 | 1258 |
| Fannie Mae Pool #DB5214 6.00% 7/1/2054 <sup>(a)</sup>  | 596 | 606 |
| Fannie Mae Pool #CB8872 6.50% 7/1/2054 <sup>(a)</sup>  | 16780 | 17475 |
| Fannie Mae Pool #CB8876 6.50% 7/1/2054 <sup>(a)</sup>  | 4952 | 5148 |
| Fannie Mae Pool #FS8317 6.50% 7/1/2054 <sup>(a)</sup>  | 2806 | 2922 |
| Fannie Mae Pool #DB7783 5.50% 8/1/2054 <sup>(a)</sup>  | 136 | 136 |
| Fannie Mae Pool #MA5445 6.00% 8/1/2054 <sup>(a)</sup>  | 44877 | 45653 |
| Fannie Mae Pool #DC0299 6.00% 8/1/2054 <sup>(a)</sup>  | 1348 | 1373 |
| Fannie Mae Pool #FS8795 6.00% 8/1/2054 <sup>(a)</sup>  | 1289 | 1312 |
| Fannie Mae Pool #DB7792 6.00% 8/1/2054 <sup>(a)</sup>  | 1041 | 1059 |
| Fannie Mae Pool #FS8757 6.00% 8/1/2054 <sup>(a)</sup>  | 227 | 232 |
| Fannie Mae Pool #BU4916 6.00% 8/1/2054 <sup>(a)</sup>  | 111 | 113 |
| Fannie Mae Pool #FS8756 6.00% 8/1/2054 <sup>(a)</sup>  | 96 | 98 |
| Fannie Mae Pool #FS8783 6.50% 8/1/2054 <sup>(a)</sup>  | 2318 | 2414 |
| Fannie Mae Pool #CB9071 6.50% 8/1/2054 <sup>(a)</sup>  | 2007 | 2091 |
| Fannie Mae Pool #MA5470 5.50% 9/1/2054 <sup>(a)</sup>  | 3624 | 3627 |
| Fannie Mae Pool #FS9001 5.50% 9/1/2054 <sup>(a)</sup>  | 1709 | 1724 |
| Fannie Mae Pool #FS9025 5.50% 9/1/2054 <sup>(a)</sup>  | 1269 | 1276 |
| Fannie Mae Pool #DC2270 6.00% 9/1/2054 <sup>(a)</sup>  | 82 | 84 |
| Fannie Mae Pool #MA5498 6.00% 10/1/2054 <sup>(a)</sup>  | 887 | 902 |
| Fannie Mae Pool #MA5530 5.00% 11/1/2054 <sup>(a)</sup>  | 5359 | 5256 |
| Fannie Mae Pool #MA5531 5.50% 11/1/2054 <sup>(a)</sup>  | 4532 | 4536 |
| Fannie Mae Pool #MA5532 6.00% 11/1/2054 <sup>(a)</sup>  | 3500 | 3559 |
| Fannie Mae Pool #DC7042 4.50% 12/1/2054 <sup>(a)</sup>  | 264 | 254 |
| Fannie Mae Pool #CB9770 4.50% 12/1/2054 <sup>(a)</sup>  | 90 | 86 |
| Fannie Mae Pool #CB9768 4.50% 12/1/2054 <sup>(a)</sup>  | 33 | 31 |
| Fannie Mae Pool #MA5552 5.00% 12/1/2054 <sup>(a)</sup>  | 143 | 140 |
| Fannie Mae Pool #CB9675 6.00% 12/1/2054 <sup>(a)</sup>  | 4029 | 4128 |
| Fannie Mae Pool #BU5233 6.00% 12/1/2054 <sup>(a)</sup>  | 1426 | 1453 |
| Fannie Mae Pool #DC7035 6.00% 12/1/2054 <sup>(a)</sup>  | 949 | 965 |
| Fannie Mae Pool #DC7823 6.00% 12/1/2054 <sup>(a)</sup>  | 377 | 384 |
| Fannie Mae Pool #BU5358 6.00% 12/1/2054 <sup>(a)</sup>  | 294 | 300 |
| Fannie Mae Pool #MA5586 5.50% 1/1/2055 <sup>(a)</sup>  | 1900 | 1901 |
| Fannie Mae Pool #CB9821 6.00% 1/1/2055 <sup>(a)</sup>  | 1607 | 1638 |
| Fannie Mae Pool #DD0835 6.00% 1/1/2055 <sup>(a)</sup>  | 869 | 883 |
| Fannie Mae Pool #CB9840 6.50% 1/1/2055 <sup>(a)</sup>  | 1995 | 2062 |
| Fannie Mae Pool #CB9836 6.50% 1/1/2055 <sup>(a)</sup>  | 1346 | 1399 |
| Fannie Mae Pool #FA0608 5.50% 2/1/2055 <sup>(a)</sup>  | 2934 | 2936 |
| Fannie Mae Pool #MA5615 6.00% 2/1/2055 <sup>(a)</sup>  | 13962 | 14198 |
| Fannie Mae Pool #MA5646 5.50% 3/1/2055 <sup>(a)</sup>  | 496 | 496 |
| Fannie Mae Pool #MA5647 6.00% 3/1/2055 <sup>(a)</sup>  | 5405 | 5496 |
| Fannie Mae Pool #MA5670 4.00% 4/1/2055 <sup>(a)</sup>  | 17406 | 16196 |
| Fannie Mae Pool #MA5674 6.00% 4/1/2055 <sup>(a)</sup>  | 1036 | 1054 |
| Fannie Mae Pool #MA5699 5.00% 5/1/2055 <sup>(a)</sup>  | 281 | 276 |
| Fannie Mae Pool #MA5701 6.00% 5/1/2055 <sup>(a)</sup>  | 2211 | 2249 |
| Fannie Mae Pool #MA5735 5.50% 6/1/2055 <sup>(a)</sup>  | 6906 | 6909 |
| Fannie Mae Pool #DD7303 5.50% 6/1/2055 <sup>(a)</sup>  | 511 | 511 |
| Fannie Mae Pool #MA5762 6.50% 7/1/2055 <sup>(a)</sup>  | 2070 | 2139 |
| Fannie Mae Pool #BF0145 3.50% 3/1/2057 <sup>(a)</sup>  | 9669 | 8665 |
| Fannie Mae Pool #BF0264 3.50% 5/1/2058 <sup>(a)</sup>  | 7168 | 6450 |
| Fannie Mae Pool #BF0332 3.00% 1/1/2059 <sup>(a)</sup>  | 15248 | 13151 |
| Fannie Mae Pool #BF0497 3.00% 7/1/2060 <sup>(a)</sup>  | 18049 | 15563 |
| Fannie Mae Pool #BF0585 4.50% 12/1/2061 <sup>(a)</sup>  | 1008 | 965 |
| Fannie Mae Pool #BF0784 3.50% 12/1/2063 <sup>(a)</sup>  | 4704 | 4168 |
| Fannie Mae, Series 2001-50, Class BA, 7.00% 10/25/2041 <sup>(a)</sup>  | 3 | 3 |
| Fannie Mae, Series 2002-W3, Class A5, 7.50% 11/25/2041 <sup>(a)</sup>  | 14 | 14 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **154** |

---

------

The Bond Fund of America<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** |  |  |
| Fannie Mae, Series 2002-W1, Class 2A, 4.453% 2/25/2042 <sup>(a)(b)</sup>  | USD15 | $15 |
| Freddie Mac Pool #ZS8507 3.00% 11/1/2028 <sup>(a)</sup>  | 48 | 47 |
| Freddie Mac Pool #ZK7590 3.00% 1/1/2029 <sup>(a)</sup>  | 877 | 862 |
| Freddie Mac Pool #A15120 5.50% 10/1/2033 <sup>(a)</sup>  | 38 | 38 |
| Freddie Mac Pool #QN1073 3.00% 12/1/2034 <sup>(a)</sup>  | 31 | 29 |
| Freddie Mac Pool #SB0649 2.50% 4/1/2037 <sup>(a)</sup>  | 2494 | 2333 |
| Freddie Mac Pool #G05196 5.50% 10/1/2038 <sup>(a)</sup>  | 37 | 38 |
| Freddie Mac Pool #G05267 5.50% 12/1/2038 <sup>(a)</sup>  | 28 | 29 |
| Freddie Mac Pool #G06020 5.50% 12/1/2039 <sup>(a)</sup>  | 53 | 54 |
| Freddie Mac Pool #G05860 5.50% 2/1/2040 <sup>(a)</sup>  | 183 | 188 |
| Freddie Mac Pool #RB5071 2.00% 9/1/2040 <sup>(a)</sup>  | 1812 | 1572 |
| Freddie Mac Pool #A93948 4.50% 9/1/2040 <sup>(a)</sup>  | 131 | 131 |
| Freddie Mac Pool #SC0149 2.00% 3/1/2041 <sup>(a)</sup>  | 5393 | 4657 |
| Freddie Mac Pool #G06868 4.50% 4/1/2041 <sup>(a)</sup>  | 135 | 135 |
| Freddie Mac Pool #RB0544 2.00% 6/1/2041 <sup>(a)</sup>  | 9385 | 8101 |
| Freddie Mac Pool #G06841 5.50% 6/1/2041 <sup>(a)</sup>  | 303 | 311 |
| Freddie Mac Pool #Z40130 3.00% 1/1/2046 <sup>(a)</sup>  | 15573 | 14152 |
| Freddie Mac Pool #RA6996 2.50% 3/1/2047 <sup>(a)</sup>  | 56 | 47 |
| Freddie Mac Pool #ZT2100 3.00% 4/1/2047 <sup>(a)</sup>  | 90 | 79 |
| Freddie Mac Pool #SD0470 4.00% 11/1/2047 <sup>(a)</sup>  | 807 | 762 |
| Freddie Mac Pool #G08789 4.00% 11/1/2047 <sup>(a)</sup>  | 488 | 465 |
| Freddie Mac Pool #G61733 3.00% 12/1/2047 <sup>(a)</sup>  | 4015 | 3595 |
| Freddie Mac Pool #G67709 3.50% 3/1/2048 <sup>(a)</sup>  | 10467 | 9664 |
| Freddie Mac Pool #ZT2265 4.00% 8/1/2048 <sup>(a)</sup>  | 766 | 725 |
| Freddie Mac Pool #G61628 3.50% 9/1/2048 <sup>(a)</sup>  | 245 | 226 |
| Freddie Mac Pool #Q58494 4.00% 9/1/2048 <sup>(a)</sup>  | 956 | 907 |
| Freddie Mac Pool #ZN4842 3.50% 4/1/2049 <sup>(a)</sup>  | 497 | 455 |
| Freddie Mac Pool #RA1369 3.50% 9/1/2049 <sup>(a)</sup>  | 1585 | 1447 |
| Freddie Mac Pool #SD7508 3.50% 10/1/2049 <sup>(a)</sup>  | 8469 | 7809 |
| Freddie Mac Pool #QA4673 3.00% 11/1/2049 <sup>(a)</sup>  | 23124 | 20549 |
| Freddie Mac Pool #QB1368 2.50% 7/1/2050 <sup>(a)</sup>  | 4617 | 3900 |
| Freddie Mac Pool #RA3055 2.50% 7/1/2050 <sup>(a)</sup>  | 27 | 23 |
| Freddie Mac Pool #RA3384 3.00% 8/1/2050 <sup>(a)</sup>  | 312 | 273 |
| Freddie Mac Pool #RA3515 2.50% 9/1/2050 <sup>(a)</sup>  | 1823 | 1522 |
| Freddie Mac Pool #RA3506 3.00% 9/1/2050 <sup>(a)</sup>  | 1764 | 1543 |
| Freddie Mac Pool #SD7525 2.50% 10/1/2050 <sup>(a)</sup>  | 5495 | 4662 |
| Freddie Mac Pool #QB4847 2.50% 10/1/2050 <sup>(a)</sup>  | 1196 | 995 |
| Freddie Mac Pool #QB5799 2.50% 11/1/2050 <sup>(a)</sup>  | 60 | 50 |
| Freddie Mac Pool #QB5838 2.50% 11/1/2050 <sup>(a)</sup>  | 25 | 21 |
| Freddie Mac Pool #RA4206 2.50% 12/1/2050 <sup>(a)</sup>  | 1943 | 1615 |
| Freddie Mac Pool #SD0776 2.00% 2/1/2051 <sup>(a)</sup>  | 1779 | 1411 |
| Freddie Mac Pool #QB8605 2.00% 2/1/2051 <sup>(a)</sup>  | 424 | 341 |
| Freddie Mac Pool #SD8128 2.00% 2/1/2051 <sup>(a)</sup>  | 98 | 78 |
| Freddie Mac Pool #SD8134 2.00% 3/1/2051 <sup>(a)</sup>  | 62873 | 50074 |
| Freddie Mac Pool #SD0537 2.00% 3/1/2051 <sup>(a)</sup>  | 1789 | 1418 |
| Freddie Mac Pool #QB9901 2.50% 3/1/2051 <sup>(a)</sup>  | 2309 | 1917 |
| Freddie Mac Pool #SD0934 2.00% 4/1/2051 <sup>(a)</sup>  | 2195 | 1740 |
| Freddie Mac Pool #QC0416 2.50% 4/1/2051 <sup>(a)</sup>  | 226 | 188 |
| Freddie Mac Pool #SI2108 2.50% 4/1/2051 <sup>(a)</sup>  | 159 | 132 |
| Freddie Mac Pool #QC2062 2.00% 5/1/2051 <sup>(a)</sup>  | 1840 | 1459 |
| Freddie Mac Pool #RA5204 2.00% 5/1/2051 <sup>(a)</sup>  | 1803 | 1429 |
| Freddie Mac Pool #RA5155 2.00% 5/1/2051 <sup>(a)</sup>  | 1614 | 1279 |
| Freddie Mac Pool #RA5288 2.00% 5/1/2051 <sup>(a)</sup>  | 1261 | 1014 |
| Freddie Mac Pool #RA5267 3.00% 5/1/2051 <sup>(a)</sup>  | 1092 | 954 |
| Freddie Mac Pool #QC3423 2.00% 6/1/2051 <sup>(a)</sup>  | 1985 | 1573 |
| Freddie Mac Pool #QC2817 2.50% 6/1/2051 <sup>(a)</sup>  | 2349 | 1975 |
| Freddie Mac Pool #QC3428 2.50% 6/1/2051 <sup>(a)</sup>  | 764 | 634 |
| Freddie Mac Pool #SD3095 2.50% 7/1/2051 <sup>(a)</sup>  | 1950 | 1621 |
| Freddie Mac Pool #SD0926 2.50% 7/1/2051 <sup>(a)</sup>  | 551 | 461 |
| Freddie Mac Pool #SD7544 3.00% 7/1/2051 <sup>(a)</sup>  | 5773 | 5097 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **155** | American Funds Insurance Series |

---

------

The Bond Fund of America<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** |  |  |
| Freddie Mac Pool #SD8160 2.00% 8/1/2051 <sup>(a)</sup>  | USD781 | $621 |
| Freddie Mac Pool #RA5836 2.50% 9/1/2051 <sup>(a)</sup>  | 10005 | 8411 |
| Freddie Mac Pool #SD2963 2.50% 9/1/2051 <sup>(a)</sup>  | 7635 | 6339 |
| Freddie Mac Pool #SD5485 2.50% 9/1/2051 <sup>(a)</sup>  | 1857 | 1552 |
| Freddie Mac Pool #RA5759 2.50% 9/1/2051 <sup>(a)</sup>  | 888 | 737 |
| Freddie Mac Pool #RA5767 2.50% 9/1/2051 <sup>(a)</sup>  | 461 | 382 |
| Freddie Mac Pool #QC6761 2.50% 9/1/2051 <sup>(a)</sup>  | 50 | 41 |
| Freddie Mac Pool #RA5901 3.00% 9/1/2051 <sup>(a)</sup>  | 1022 | 893 |
| Freddie Mac Pool #QD0086 2.00% 10/1/2051 <sup>(a)</sup>  | 530 | 420 |
| Freddie Mac Pool #SD1345 2.50% 10/1/2051 <sup>(a)</sup>  | 1913 | 1589 |
| Freddie Mac Pool #SD2880 3.00% 10/1/2051 <sup>(a)</sup>  | 6354 | 5551 |
| Freddie Mac Pool #SD0734 3.00% 10/1/2051 <sup>(a)</sup>  | 1794 | 1579 |
| Freddie Mac Pool #QD0877 2.00% 11/1/2051 <sup>(a)</sup>  | 7969 | 6317 |
| Freddie Mac Pool #QD1841 2.00% 11/1/2051 <sup>(a)</sup>  | 2359 | 1871 |
| Freddie Mac Pool #SD1385 2.50% 11/1/2051 <sup>(a)</sup>  | 1383 | 1165 |
| Freddie Mac Pool #RA6347 3.00% 11/1/2051 <sup>(a)</sup>  | 1159 | 1013 |
| Freddie Mac Pool #SD8182 2.00% 12/1/2051 <sup>(a)</sup>  | 810 | 644 |
| Freddie Mac Pool #SD3729 2.50% 12/1/2051 <sup>(a)</sup>  | 1102 | 915 |
| Freddie Mac Pool #QD3310 3.00% 12/1/2051 <sup>(a)</sup>  | 18 | 16 |
| Freddie Mac Pool #QD4465 2.00% 1/1/2052 <sup>(a)</sup>  | 1886 | 1495 |
| Freddie Mac Pool #SD2629 2.50% 1/1/2052 <sup>(a)</sup>  | 4134 | 3433 |
| Freddie Mac Pool #SD0855 2.50% 1/1/2052 <sup>(a)</sup>  | 2642 | 2205 |
| Freddie Mac Pool #RA6634 2.50% 1/1/2052 <sup>(a)</sup>  | 487 | 405 |
| Freddie Mac Pool #QD5254 2.50% 1/1/2052 <sup>(a)</sup>  | 482 | 402 |
| Freddie Mac Pool #SD0813 3.00% 1/1/2052 <sup>(a)</sup>  | 3961 | 3484 |
| Freddie Mac Pool #RA6114 2.00% 2/1/2052 <sup>(a)</sup>  | 1634 | 1296 |
| Freddie Mac Pool #SD8193 2.00% 2/1/2052 <sup>(a)</sup>  | 828 | 658 |
| Freddie Mac Pool #QD7187 2.50% 2/1/2052 <sup>(a)</sup>  | 977 | 811 |
| Freddie Mac Pool #SI2095 2.50% 2/1/2052 <sup>(a)</sup>  | 403 | 335 |
| Freddie Mac Pool #SD8194 2.50% 2/1/2052 <sup>(a)</sup>  | 230 | 192 |
| Freddie Mac Pool #QD7360 2.50% 2/1/2052 <sup>(a)</sup>  | 171 | 142 |
| Freddie Mac Pool #QD7312 2.50% 2/1/2052 <sup>(a)</sup>  | 62 | 52 |
| Freddie Mac Pool #QD7089 3.50% 2/1/2052 <sup>(a)</sup>  | 596 | 541 |
| Freddie Mac Pool #SD5343 2.00% 3/1/2052 <sup>(a)</sup>  | 2322 | 1843 |
| Freddie Mac Pool #SD8199 2.00% 3/1/2052 <sup>(a)</sup>  | 1812 | 1439 |
| Freddie Mac Pool #QD8010 2.00% 3/1/2052 <sup>(a)</sup>  | 918 | 727 |
| Freddie Mac Pool #QD8103 2.00% 3/1/2052 <sup>(a)</sup>  | 854 | 677 |
| Freddie Mac Pool #RA6973 2.00% 3/1/2052 <sup>(a)</sup>  | 493 | 391 |
| Freddie Mac Pool #QD8820 2.00% 3/1/2052 <sup>(a)</sup>  | 170 | 135 |
| Freddie Mac Pool #SD8200 2.50% 3/1/2052 <sup>(a)</sup>  | 808 | 672 |
| Freddie Mac Pool #QE0888 2.50% 3/1/2052 <sup>(a)</sup>  | 728 | 607 |
| Freddie Mac Pool #QE0957 2.50% 3/1/2052 <sup>(a)</sup>  | 70 | 58 |
| Freddie Mac Pool #SD8204 2.00% 4/1/2052 <sup>(a)</sup>  | 1264 | 1004 |
| Freddie Mac Pool #SD3478 2.50% 4/1/2052 <sup>(a)</sup>  | 1714 | 1423 |
| Freddie Mac Pool #QE0521 2.50% 4/1/2052 <sup>(a)</sup>  | 563 | 469 |
| Freddie Mac Pool #QE1102 2.50% 4/1/2052 <sup>(a)</sup>  | 223 | 185 |
| Freddie Mac Pool #QE0322 2.50% 4/1/2052 <sup>(a)</sup>  | 124 | 103 |
| Freddie Mac Pool #SD1658 2.50% 4/1/2052 <sup>(a)</sup>  | 120 | 100 |
| Freddie Mac Pool #SD8212 2.50% 5/1/2052 <sup>(a)</sup>  | 1683 | 1401 |
| Freddie Mac Pool #RA7139 2.50% 5/1/2052 <sup>(a)</sup>  | 380 | 315 |
| Freddie Mac Pool #SD8213 3.00% 5/1/2052 <sup>(a)</sup>  | 42415 | 36791 |
| Freddie Mac Pool #SD8220 3.00% 6/1/2052 <sup>(a)</sup>  | 3623 | 3139 |
| Freddie Mac Pool #QE4084 6.50% 6/1/2052 <sup>(a)</sup>  | 180 | 189 |
| Freddie Mac Pool #SD3416 2.50% 7/1/2052 <sup>(a)</sup>  | 881 | 731 |
| Freddie Mac Pool #SD3632 2.50% 7/1/2052 <sup>(a)</sup>  | 475 | 395 |
| Freddie Mac Pool #SD2600 2.50% 7/1/2052 <sup>(a)</sup>  | 190 | 158 |
| Freddie Mac Pool #SD8225 3.00% 7/1/2052 <sup>(a)</sup>  | 4318 | 3745 |
| Freddie Mac Pool #QE5698 5.00% 7/1/2052 <sup>(a)</sup>  | 2045 | 2015 |
| Freddie Mac Pool #SD1406 2.00% 8/1/2052 <sup>(a)</sup>  | 89 | 71 |
| Freddie Mac Pool #SD1408 2.50% 8/1/2052 <sup>(a)</sup>  | 193 | 161 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **156** |

---

------

The Bond Fund of America<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** |  |  |
| Freddie Mac Pool #SD7556 3.00% 8/1/2052 <sup>(a)</sup>  | USD560 | $490 |
| Freddie Mac Pool #QE8579 4.50% 8/1/2052 <sup>(a)</sup>  | 72 | 69 |
| Freddie Mac Pool #SD8242 3.00% 9/1/2052 <sup>(a)</sup>  | 4020 | 3487 |
| Freddie Mac Pool #QF0212 4.50% 9/1/2052 <sup>(a)</sup>  | 326 | 313 |
| Freddie Mac Pool #QF1205 4.50% 9/1/2052 <sup>(a)</sup>  | 285 | 274 |
| Freddie Mac Pool #QE9497 4.50% 9/1/2052 <sup>(a)</sup>  | 83 | 79 |
| Freddie Mac Pool #SD1608 4.50% 9/1/2052 <sup>(a)</sup>  | 48 | 46 |
| Freddie Mac Pool #SD2465 4.50% 10/1/2052 <sup>(a)</sup>  | 32 | 31 |
| Freddie Mac Pool #RA8059 5.50% 10/1/2052 <sup>(a)</sup>  | 5779 | 5821 |
| Freddie Mac Pool #SD1896 4.00% 11/1/2052 <sup>(a)</sup>  | 16148 | 15285 |
| Freddie Mac Pool #SD1894 4.00% 11/1/2052 <sup>(a)</sup>  | 5631 | 5328 |
| Freddie Mac Pool #SD8266 4.50% 11/1/2052 <sup>(a)</sup>  | 16259 | 15592 |
| Freddie Mac Pool #QF2692 5.00% 11/1/2052 <sup>(a)</sup>  | 3483 | 3433 |
| Freddie Mac Pool #QF2926 5.00% 11/1/2052 <sup>(a)</sup>  | 3450 | 3399 |
| Freddie Mac Pool #SD2948 5.50% 11/1/2052 <sup>(a)</sup>  | 2042 | 2049 |
| Freddie Mac Pool #QF2862 6.50% 11/1/2052 <sup>(a)</sup>  | 61 | 63 |
| Freddie Mac Pool #SD8280 6.50% 11/1/2052 <sup>(a)</sup>  | 40 | 42 |
| Freddie Mac Pool #SD2602 3.00% 12/1/2052 <sup>(a)</sup>  | 1040 | 901 |
| Freddie Mac Pool #SD2065 4.00% 12/1/2052 <sup>(a)</sup>  | 997 | 929 |
| Freddie Mac Pool #RA8200 4.00% 12/1/2052 <sup>(a)</sup>  | 513 | 478 |
| Freddie Mac Pool #RA8309 6.00% 12/1/2052 <sup>(a)</sup>  | 1157 | 1187 |
| Freddie Mac Pool #SD8287 4.50% 1/1/2053 <sup>(a)</sup>  | 15265 | 14640 |
| Freddie Mac Pool #SD8288 5.00% 1/1/2053 <sup>(a)</sup>  | 193 | 190 |
| Freddie Mac Pool #RA8423 6.00% 1/1/2053 <sup>(a)</sup>  | 3080 | 3153 |
| Freddie Mac Pool #SD8298 4.50% 2/1/2053 <sup>(a)</sup>  | 14914 | 14303 |
| Freddie Mac Pool #SD8299 5.00% 2/1/2053 <sup>(a)</sup>  | 2208 | 2172 |
| Freddie Mac Pool #SD2462 5.50% 2/1/2053 <sup>(a)</sup>  | 42881 | 43071 |
| Freddie Mac Pool #RA8544 5.50% 2/1/2053 <sup>(a)</sup>  | 23172 | 23261 |
| Freddie Mac Pool #QF8083 6.00% 2/1/2053 <sup>(a)</sup>  | 13602 | 13891 |
| Freddie Mac Pool #QF9463 4.00% 3/1/2053 <sup>(a)</sup>  | 2602 | 2422 |
| Freddie Mac Pool #SD2610 4.00% 3/1/2053 <sup>(a)</sup>  | 1695 | 1577 |
| Freddie Mac Pool #SD8305 4.00% 3/1/2053 <sup>(a)</sup>  | 76 | 71 |
| Freddie Mac Pool #RA8720 4.00% 4/1/2053 <sup>(a)</sup>  | 2684 | 2502 |
| Freddie Mac Pool #SD8314 4.50% 4/1/2053 <sup>(a)</sup>  | 194 | 186 |
| Freddie Mac Pool #SD2716 5.00% 4/1/2053 <sup>(a)</sup>  | 4506 | 4453 |
| Freddie Mac Pool #QG1268 5.00% 4/1/2053 <sup>(a)</sup>  | 642 | 633 |
| Freddie Mac Pool #SD8315 5.00% 4/1/2053 <sup>(a)</sup>  | 542 | 534 |
| Freddie Mac Pool #QG2977 4.00% 5/1/2053 <sup>(a)</sup>  | 193 | 180 |
| Freddie Mac Pool #RA8647 4.50% 5/1/2053 <sup>(a)</sup>  | 33 | 31 |
| Freddie Mac Pool #SD8323 5.00% 5/1/2053 <sup>(a)</sup>  | 8264 | 8121 |
| Freddie Mac Pool #SD8324 5.50% 5/1/2053 <sup>(a)</sup>  | 8090 | 8108 |
| Freddie Mac Pool #QG3365 5.50% 5/1/2053 <sup>(a)</sup>  | 3465 | 3488 |
| Freddie Mac Pool #SD3369 5.50% 5/1/2053 <sup>(a)</sup>  | 2382 | 2388 |
| Freddie Mac Pool #SD2861 6.00% 5/1/2053 <sup>(a)</sup>  | 13542 | 13806 |
| Freddie Mac Pool #QG5002 4.00% 6/1/2053 <sup>(a)</sup>  | 578 | 538 |
| Freddie Mac Pool #SD8329 5.00% 6/1/2053 <sup>(a)</sup>  | 5524 | 5429 |
| Freddie Mac Pool #SD8331 5.50% 6/1/2053 <sup>(a)</sup>  | 19409 | 19448 |
| Freddie Mac Pool #SD3177 6.00% 6/1/2053 <sup>(a)</sup>  | 6319 | 6457 |
| Freddie Mac Pool #SD3083 6.00% 6/1/2053 <sup>(a)</sup>  | 2909 | 2962 |
| Freddie Mac Pool #RA9294 6.50% 6/1/2053 <sup>(a)</sup>  | 670 | 697 |
| Freddie Mac Pool #RA9292 6.50% 6/1/2053 <sup>(a)</sup>  | 580 | 604 |
| Freddie Mac Pool #RA9288 6.50% 6/1/2053 <sup>(a)</sup>  | 561 | 586 |
| Freddie Mac Pool #RA9289 6.50% 6/1/2053 <sup>(a)</sup>  | 546 | 570 |
| Freddie Mac Pool #RA9287 6.50% 6/1/2053 <sup>(a)</sup>  | 385 | 402 |
| Freddie Mac Pool #RA9290 6.50% 6/1/2053 <sup>(a)</sup>  | 294 | 307 |
| Freddie Mac Pool #RA9291 6.50% 6/1/2053 <sup>(a)</sup>  | 185 | 192 |
| Freddie Mac Pool #RA9295 6.50% 6/1/2053 <sup>(a)</sup>  | 162 | 171 |
| Freddie Mac Pool #QG7153 4.00% 7/1/2053 <sup>(a)</sup>  | 5155 | 4804 |
| Freddie Mac Pool #QG6067 4.00% 7/1/2053 <sup>(a)</sup>  | 542 | 504 |
| Freddie Mac Pool #QG7958 4.00% 7/1/2053 <sup>(a)</sup>  | 66 | 61 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **157** | American Funds Insurance Series |

---

------

The Bond Fund of America<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** |  |  |
| Freddie Mac Pool #SD8341 5.00% 7/1/2053 <sup>(a)</sup>  | USD255 | $251 |
| Freddie Mac Pool #SD3386 5.50% 7/1/2053 <sup>(a)</sup>  | 7500 | 7511 |
| Freddie Mac Pool #QG7411 5.50% 7/1/2053 <sup>(a)</sup>  | 584 | 586 |
| Freddie Mac Pool #RA9474 6.00% 7/1/2053 <sup>(a)</sup>  | 8188 | 8374 |
| Freddie Mac Pool #SD3434 6.00% 7/1/2053 <sup>(a)</sup>  | 2936 | 2992 |
| Freddie Mac Pool #QG8958 4.00% 8/1/2053 <sup>(a)</sup>  | 476 | 443 |
| Freddie Mac Pool #QG9629 4.00% 8/1/2053 <sup>(a)</sup>  | 396 | 369 |
| Freddie Mac Pool #QG9084 5.50% 8/1/2053 <sup>(a)</sup>  | 2310 | 2318 |
| Freddie Mac Pool #QG9008 5.50% 8/1/2053 <sup>(a)</sup>  | 2156 | 2164 |
| Freddie Mac Pool #QG9628 5.50% 8/1/2053 <sup>(a)</sup>  | 2033 | 2039 |
| Freddie Mac Pool #QG9141 5.50% 8/1/2053 <sup>(a)</sup>  | 1343 | 1348 |
| Freddie Mac Pool #SD3639 6.00% 8/1/2053 <sup>(a)</sup>  | 4434 | 4526 |
| Freddie Mac Pool #QH0851 6.00% 9/1/2053 <sup>(a)</sup>  | 13728 | 13973 |
| Freddie Mac Pool #QH1296 6.00% 9/1/2053 <sup>(a)</sup>  | 13376 | 13621 |
| Freddie Mac Pool #QH1059 6.00% 9/1/2053 <sup>(a)</sup>  | 10892 | 11101 |
| Freddie Mac Pool #SD3916 6.00% 9/1/2053 <sup>(a)</sup>  | 1428 | 1461 |
| Freddie Mac Pool #RA9854 6.00% 9/1/2053 <sup>(a)</sup>  | 1074 | 1101 |
| Freddie Mac Pool #SD3825 6.50% 9/1/2053 <sup>(a)</sup>  | 54078 | 55892 |
| Freddie Mac Pool #SD4997 5.00% 10/1/2053 <sup>(a)</sup>  | 802 | 790 |
| Freddie Mac Pool #SD8368 6.00% 10/1/2053 <sup>(a)</sup>  | 14446 | 14706 |
| Freddie Mac Pool #SD8369 6.50% 10/1/2053 <sup>(a)</sup>  | 3680 | 3806 |
| Freddie Mac Pool #SD4977 5.00% 11/1/2053 <sup>(a)</sup>  | 601 | 591 |
| Freddie Mac Pool #SD4571 5.50% 11/1/2053 <sup>(a)</sup>  | 18116 | 18178 |
| Freddie Mac Pool #SD8373 6.00% 11/1/2053 <sup>(a)</sup>  | 2186 | 2226 |
| Freddie Mac Pool #SD4318 6.50% 11/1/2053 <sup>(a)</sup>  | 12641 | 13150 |
| Freddie Mac Pool #RJ0326 6.50% 11/1/2053 <sup>(a)</sup>  | 1751 | 1818 |
| Freddie Mac Pool #RJ0440 6.00% 12/1/2053 <sup>(a)</sup>  | 5293 | 5402 |
| Freddie Mac Pool #QH5936 6.00% 12/1/2053 <sup>(a)</sup>  | 2812 | 2886 |
| Freddie Mac Pool #SD4693 6.50% 1/1/2054 <sup>(a)</sup>  | 644 | 668 |
| Freddie Mac Pool #SD5910 4.00% 2/1/2054 <sup>(a)</sup>  | 187 | 174 |
| Freddie Mac Pool #SD8401 5.50% 2/1/2054 <sup>(a)</sup>  | 770 | 771 |
| Freddie Mac Pool #SD4975 6.00% 2/1/2054 <sup>(a)</sup>  | 11117 | 11305 |
| Freddie Mac Pool #QI0006 6.00% 2/1/2054 <sup>(a)</sup>  | 4713 | 4796 |
| Freddie Mac Pool #SD4897 6.00% 2/1/2054 <sup>(a)</sup>  | 3599 | 3672 |
| Freddie Mac Pool #SD8402 6.00% 2/1/2054 <sup>(a)</sup>  | 194 | 197 |
| Freddie Mac Pool #SD4966 6.50% 2/1/2054 <sup>(a)</sup>  | 4842 | 5028 |
| Freddie Mac Pool #SD8408 5.50% 3/1/2054 <sup>(a)</sup>  | 410 | 410 |
| Freddie Mac Pool #RJ1216 5.50% 4/1/2054 <sup>(a)</sup>  | 2559 | 2578 |
| Freddie Mac Pool #RJ1215 5.50% 4/1/2054 <sup>(a)</sup>  | 1857 | 1862 |
| Freddie Mac Pool #RJ1435 6.00% 4/1/2054 <sup>(a)</sup>  | 8058 | 8235 |
| Freddie Mac Pool #SD5303 6.00% 4/1/2054 <sup>(a)</sup>  | 5285 | 5411 |
| Freddie Mac Pool #QI2895 6.00% 4/1/2054 <sup>(a)</sup>  | 4208 | 4313 |
| Freddie Mac Pool #RJ1346 6.00% 4/1/2054 <sup>(a)</sup>  | 1997 | 2050 |
| Freddie Mac Pool #SD8421 6.00% 4/1/2054 <sup>(a)</sup>  | 166 | 169 |
| Freddie Mac Pool #SD5316 6.00% 4/1/2054 <sup>(a)</sup>  | 23 | 23 |
| Freddie Mac Pool #SD5221 6.50% 4/1/2054 <sup>(a)</sup>  | 6363 | 6624 |
| Freddie Mac Pool #QI3488 6.50% 4/1/2054 <sup>(a)</sup>  | 4289 | 4433 |
| Freddie Mac Pool #SD8430 5.00% 5/1/2054 <sup>(a)</sup>  | 1977 | 1940 |
| Freddie Mac Pool #RJ1417 5.50% 5/1/2054 <sup>(a)</sup>  | 37758 | 38030 |
| Freddie Mac Pool #RJ1512 5.50% 5/1/2054 <sup>(a)</sup>  | 4705 | 4738 |
| Freddie Mac Pool #SD8432 6.00% 5/1/2054 <sup>(a)</sup>  | 3074 | 3129 |
| Freddie Mac Pool #RJ1447 6.50% 5/1/2054 <sup>(a)</sup>  | 6179 | 6436 |
| Freddie Mac Pool #RJ1857 5.50% 6/1/2054 <sup>(a)</sup>  | 2752 | 2757 |
| Freddie Mac Pool #RJ1768 5.50% 6/1/2054 <sup>(a)</sup>  | 984 | 990 |
| Freddie Mac Pool #RJ1859 6.00% 6/1/2054 <sup>(a)</sup>  | 25088 | 25561 |
| Freddie Mac Pool #SD8439 6.00% 6/1/2054 <sup>(a)</sup>  | 120 | 122 |
| Freddie Mac Pool #SD5701 6.50% 6/1/2054 <sup>(a)</sup>  | 5849 | 6091 |
| Freddie Mac Pool #SD8446 5.50% 7/1/2054 <sup>(a)</sup>  | 2462 | 2463 |
| Freddie Mac Pool #RJ1963 5.50% 7/1/2054 <sup>(a)</sup>  | 1826 | 1828 |
| Freddie Mac Pool #SD8447 6.00% 7/1/2054 <sup>(a)</sup>  | 23030 | 23429 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **158** |

---

------

The Bond Fund of America<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** |  |  |
| Freddie Mac Pool #RJ1964 6.00% 7/1/2054 <sup>(a)</sup>  | USD13,207 | $13581 |
| Freddie Mac Pool #SD5949 6.00% 7/1/2054 <sup>(a)</sup>  | 3096 | 3154 |
| Freddie Mac Pool #RJ1975 6.00% 7/1/2054 <sup>(a)</sup>  | 2714 | 2765 |
| Freddie Mac Pool #SD5813 6.00% 7/1/2054 <sup>(a)</sup>  | 237 | 243 |
| Freddie Mac Pool #SD8448 6.50% 7/1/2054 <sup>(a)</sup>  | 35128 | 36307 |
| Freddie Mac Pool #QI9151 6.50% 7/1/2054 <sup>(a)</sup>  | 2575 | 2682 |
| Freddie Mac Pool #RJ2193 5.00% 8/1/2054 <sup>(a)</sup>  | 2048 | 2015 |
| Freddie Mac Pool #RJ2241 5.00% 8/1/2054 <sup>(a)</sup>  | 1454 | 1429 |
| Freddie Mac Pool #RJ2195 5.00% 8/1/2054 <sup>(a)</sup>  | 1313 | 1290 |
| Freddie Mac Pool #SD8453 5.50% 8/1/2054 <sup>(a)</sup>  | 3 | 3 |
| Freddie Mac Pool #SD8454 6.00% 8/1/2054 <sup>(a)</sup>  | 9466 | 9627 |
| Freddie Mac Pool #RJ2210 6.00% 8/1/2054 <sup>(a)</sup>  | 5050 | 5147 |
| Freddie Mac Pool #RJ2216 6.00% 8/1/2054 <sup>(a)</sup>  | 2455 | 2502 |
| Freddie Mac Pool #SD6029 6.00% 8/1/2054 <sup>(a)</sup>  | 141 | 144 |
| Freddie Mac Pool #QJ1440 6.00% 8/1/2054 <sup>(a)</sup>  | 62 | 64 |
| Freddie Mac Pool #RJ2222 6.50% 8/1/2054 <sup>(a)</sup>  | 12853 | 13386 |
| Freddie Mac Pool #SD6034 6.50% 8/1/2054 <sup>(a)</sup>  | 12151 | 12655 |
| Freddie Mac Pool #SD6047 6.50% 8/1/2054 <sup>(a)</sup>  | 4793 | 4993 |
| Freddie Mac Pool #SD6035 6.50% 8/1/2054 <sup>(a)</sup>  | 3279 | 3415 |
| Freddie Mac Pool #RJ2247 6.50% 8/1/2054 <sup>(a)</sup>  | 1923 | 2001 |
| Freddie Mac Pool #RJ2228 6.50% 8/1/2054 <sup>(a)</sup>  | 1144 | 1185 |
| Freddie Mac Pool #SD8462 5.50% 9/1/2054 <sup>(a)</sup>  | 3617 | 3620 |
| Freddie Mac Pool #SD6578 6.00% 9/1/2054 <sup>(a)</sup>  | 4490 | 4592 |
| Freddie Mac Pool #RJ2314 6.00% 9/1/2054 <sup>(a)</sup>  | 485 | 494 |
| Freddie Mac Pool #RJ2312 6.00% 9/1/2054 <sup>(a)</sup>  | 263 | 269 |
| Freddie Mac Pool #RJ2308 6.00% 9/1/2054 <sup>(a)</sup>  | 248 | 254 |
| Freddie Mac Pool #RJ2306 6.00% 9/1/2054 <sup>(a)</sup>  | 229 | 235 |
| Freddie Mac Pool #RJ2309 6.00% 9/1/2054 <sup>(a)</sup>  | 152 | 155 |
| Freddie Mac Pool #QJ3982 6.00% 9/1/2054 <sup>(a)</sup>  | 44 | 45 |
| Freddie Mac Pool #QJ3945 6.00% 9/1/2054 <sup>(a)</sup>  | 30 | 31 |
| Freddie Mac Pool #RJ2320 6.50% 9/1/2054 <sup>(a)</sup>  | 4174 | 4347 |
| Freddie Mac Pool #SD6271 6.50% 9/1/2054 <sup>(a)</sup>  | 2607 | 2703 |
| Freddie Mac Pool #RJ2325 6.50% 9/1/2054 <sup>(a)</sup>  | 2254 | 2342 |
| Freddie Mac Pool #QJ4693 6.50% 9/1/2054 <sup>(a)</sup>  | 1034 | 1077 |
| Freddie Mac Pool #SD8464 6.50% 9/1/2054 <sup>(a)</sup>  | 1000 | 1034 |
| Freddie Mac Pool #SD8469 5.50% 10/1/2054 <sup>(a)</sup>  | 4203 | 4206 |
| Freddie Mac Pool #QJ5971 6.00% 10/1/2054 <sup>(a)</sup>  | 147 | 150 |
| Freddie Mac Pool #QJ5733 6.00% 10/1/2054 <sup>(a)</sup>  | 46 | 47 |
| Freddie Mac Pool #SD6733 6.50% 10/1/2054 <sup>(a)</sup>  | 5516 | 5715 |
| Freddie Mac Pool #QJ7714 6.50% 10/1/2054 <sup>(a)</sup>  | 149 | 154 |
| Freddie Mac Pool #SD8484 4.00% 11/1/2054 <sup>(a)</sup>  | 4311 | 4012 |
| Freddie Mac Pool #RJ2851 4.50% 11/1/2054 <sup>(a)</sup>  | 4829 | 4624 |
| Freddie Mac Pool #RJ2860 5.00% 11/1/2054 <sup>(a)</sup>  | 7307 | 7167 |
| Freddie Mac Pool #SD8475 5.50% 11/1/2054 <sup>(a)</sup>  | 13366 | 13376 |
| Freddie Mac Pool #RJ2917 5.50% 11/1/2054 <sup>(a)</sup>  | 11082 | 11107 |
| Freddie Mac Pool #RJ2922 6.00% 11/1/2054 <sup>(a)</sup>  | 3287 | 3343 |
| Freddie Mac Pool #RJ3017 5.00% 12/1/2054 <sup>(a)</sup>  | 6877 | 6751 |
| Freddie Mac Pool #RJ3163 5.00% 12/1/2054 <sup>(a)</sup>  | 6 | 6 |
| Freddie Mac Pool #SD8493 5.50% 12/1/2054 <sup>(a)</sup>  | 274 | 274 |
| Freddie Mac Pool #QX0376 5.50% 12/1/2054 <sup>(a)</sup>  | 14 | 14 |
| Freddie Mac Pool #QX1881 6.00% 12/1/2054 <sup>(a)</sup>  | 283 | 288 |
| Freddie Mac Pool #QX0548 6.50% 12/1/2054 <sup>(a)</sup>  | 780 | 808 |
| Freddie Mac Pool #SD8494 5.50% 1/1/2055 <sup>(a)</sup>  | 1412 | 1413 |
| Freddie Mac Pool #RJ3240 6.00% 1/1/2055 <sup>(a)</sup>  | 5759 | 5866 |
| Freddie Mac Pool #RJ3301 6.00% 1/1/2055 <sup>(a)</sup>  | 2350 | 2412 |
| Freddie Mac Pool #RJ3305 6.00% 1/1/2055 <sup>(a)</sup>  | 1643 | 1683 |
| Freddie Mac Pool #QX4065 6.00% 1/1/2055 <sup>(a)</sup>  | 593 | 603 |
| Freddie Mac Pool #RJ3241 6.50% 1/1/2055 <sup>(a)</sup>  | 1498 | 1562 |
| Freddie Mac Pool #RJ3264 4.50% 2/1/2055 <sup>(a)</sup>  | 4596 | 4401 |
| Freddie Mac Pool #SD8506 5.50% 2/1/2055 <sup>(a)</sup>  | 7333 | 7336 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **159** | American Funds Insurance Series |

---

------

The Bond Fund of America<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** |  |  |
| Freddie Mac Pool #SD8507 6.00% 2/1/2055 <sup>(a)</sup>  | USD2,421 | $2461 |
| Freddie Mac Pool #SL0797 6.00% 2/1/2055 <sup>(a)</sup>  | 1756 | 1796 |
| Freddie Mac Pool #SD8508 6.50% 2/1/2055 <sup>(a)</sup>  | — <br><sup>(c)</sup><br>| — <br><sup>(c)</sup><br>|
| Freddie Mac Pool #SD8516 6.00% 3/1/2055 <sup>(a)</sup>  | 159 | 161 |
| Freddie Mac Pool #SD8517 6.50% 3/1/2055 <sup>(a)</sup>  | 2703 | 2793 |
| Freddie Mac Pool #SD8525 6.00% 4/1/2055 <sup>(a)</sup>  | 8923 | 9073 |
| Freddie Mac Pool #SL0796 6.00% 4/1/2055 <sup>(a)</sup>  | 1707 | 1736 |
| Freddie Mac Pool #SD8526 6.50% 4/1/2055 <sup>(a)</sup>  | 483 | 500 |
| Freddie Mac Pool #SD8532 5.00% 5/1/2055 <sup>(a)</sup>  | 197 | 193 |
| Freddie Mac Pool #SD8534 6.00% 5/1/2055 <sup>(a)</sup>  | 1595 | 1621 |
| Freddie Mac Pool #RQ0012 5.00% 6/1/2055 <sup>(a)</sup>  | 883 | 865 |
| Freddie Mac Pool #RQ0013 5.50% 6/1/2055 <sup>(a)</sup>  | 12865 | 12872 |
| Freddie Mac Pool #RQ0015 6.50% 6/1/2055 <sup>(a)</sup>  | 224 | 231 |
| Freddie Mac Pool #RQ0028 6.00% 7/1/2055 <sup>(a)</sup>  | 1861 | 1892 |
| Freddie Mac, Series 3061, Class PN, 5.50% 11/15/2035 <sup>(a)</sup>  | 37 | 38 |
| Freddie Mac, Series 3318, Class JT, 5.50% 5/15/2037 <sup>(a)</sup>  | 94 | 99 |
| Freddie Mac, Series K156, Class A2, Multi Family, 4.43% 2/25/2033 <sup>(a)(b)</sup>  | 3461 | 3461 |
| Freddie Mac, Series 3146, Class PO, principal only, 0% 4/15/2036 <sup>(a)</sup>  | 84 | 74 |
| Freddie Mac, Series 3156, Class PO, principal only, 0% 5/15/2036 <sup>(a)</sup>  | 77 | 67 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2018-3, Class MA, 3.50% 8/25/2057 <sup>(a)</sup>  | 5688 | 5486 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-2, Class MA, 3.50% 8/25/2058 <sup>(a)</sup>  | 1400 | 1339 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2022-1, Class A1, 3.50% 5/25/2032 <sup>(a)</sup>  | 7792 | 7495 |
| Government National Mortgage Assn. 5.00% 7/1/2055 <sup>(a)(d)</sup>  | 135 | 133 |
| Government National Mortgage Assn. 5.50% 7/1/2055 <sup>(a)(d)</sup>  | 27314 | 27358 |
| Government National Mortgage Assn. 2.00% 8/1/2055 <sup>(a)(d)</sup>  | 6176 | 5014 |
| Government National Mortgage Assn. 4.00% 8/1/2055 <sup>(a)(d)</sup>  | 108 | 100 |
| Government National Mortgage Assn. Pool #MA5817 4.00% 3/20/2049 <sup>(a)</sup>  | 9290 | 8762 |
| Government National Mortgage Assn. Pool #MA6042 5.00% 7/20/2049 <sup>(a)</sup>  | 25 | 25 |
| Government National Mortgage Assn. Pool #MA6221 4.50% 10/20/2049 <sup>(a)</sup>  | 3865 | 3756 |
| Government National Mortgage Assn. Pool #MA6600 3.50% 4/20/2050 <sup>(a)</sup>  | 8606 | 7891 |
| Government National Mortgage Assn. Pool #MA6994 2.00% 11/20/2050 <sup>(a)</sup>  | 1930 | 1574 |
| Government National Mortgage Assn. Pool #MA7051 2.00% 12/20/2050 <sup>(a)</sup>  | 3347 | 2728 |
| Government National Mortgage Assn. Pool #785607 2.50% 8/20/2051 <sup>(a)</sup>  | 7742 | 6471 |
| Government National Mortgage Assn. Pool #785575 2.50% 8/20/2051 <sup>(a)</sup>  | 2839 | 2377 |
| Government National Mortgage Assn. Pool #785659 2.50% 10/20/2051 <sup>(a)</sup>  | 2751 | 2300 |
| Government National Mortgage Assn. Pool #785813 2.50% 12/20/2051 <sup>(a)</sup>  | 4337 | 3638 |
| Government National Mortgage Assn. Pool #MA7881 2.50% 2/20/2052 <sup>(a)</sup>  | 4033 | 3431 |
| Government National Mortgage Assn. Pool #785998 2.50% 3/20/2052 <sup>(a)</sup>  | 3458 | 2897 |
| Government National Mortgage Assn. Pool #MA7937 3.00% 3/20/2052 <sup>(a)</sup>  | 226 | 200 |
| Government National Mortgage Assn. Pool #MA7988 3.00% 4/20/2052 <sup>(a)</sup>  | 174 | 154 |
| Government National Mortgage Assn. Pool #MA8044 3.50% 5/20/2052 <sup>(a)</sup>  | 4664 | 4257 |
| Government National Mortgage Assn. Pool #MA8148 3.00% 7/20/2052 <sup>(a)</sup>  | 4832 | 4280 |
| Government National Mortgage Assn. Pool #MA8199 3.50% 8/20/2052 <sup>(a)</sup>  | 3986 | 3643 |
| Government National Mortgage Assn. Pool #MA8266 3.50% 9/20/2052 <sup>(a)</sup>  | 21289 | 19425 |
| Government National Mortgage Assn. Pool #MA8267 4.00% 9/20/2052 <sup>(a)</sup>  | 7615 | 7121 |
| Government National Mortgage Assn. Pool #MA8346 4.00% 10/20/2052 <sup>(a)</sup>  | 5348 | 5011 |
| Government National Mortgage Assn. Pool #MA8799 4.50% 4/20/2053 <sup>(a)</sup>  | 3409 | 3283 |
| Government National Mortgage Assn. Pool #MA9015 4.50% 7/20/2053 <sup>(a)</sup>  | 12036 | 11578 |
| Government National Mortgage Assn. Pool #MA9016 5.00% 7/20/2053 <sup>(a)</sup>  | 3131 | 3085 |
| Government National Mortgage Assn. Pool #MA9104 4.50% 8/20/2053 <sup>(a)</sup>  | 7748 | 7446 |
| Government National Mortgage Assn. Pool #MA9169 4.50% 9/20/2053 <sup>(a)</sup>  | 12720 | 12217 |
| Government National Mortgage Assn. Pool #MA9776 4.00% 7/20/2054 <sup>(a)</sup>  | 1742 | 1623 |
| Government National Mortgage Assn. Pool #MB0024 4.50% 11/20/2054 <sup>(a)</sup>  | 21027 | 20143 |
| Government National Mortgage Assn. Pool #MB0144 4.00% 1/20/2055 <sup>(a)</sup>  | 9065 | 8435 |
| Government National Mortgage Assn. Pool #MB0202 4.00% 2/20/2055 <sup>(a)</sup>  | 797 | 741 |
| Government National Mortgage Assn. Pool #MB0256 4.00% 3/20/2055 <sup>(a)</sup>  | 1165 | 1084 |
| Government National Mortgage Assn. Pool #MB0421 4.00% 6/20/2055 <sup>(a)</sup>  | 99 | 92 |
| Government National Mortgage Assn., Series 2021-2, Class AH, 1.50% 6/16/2063 <sup>(a)</sup>  | 1472 | 1076 |
| Uniform Mortgage-Backed Security 2.00% 7/1/2040 <sup>(a)(d)</sup>  | 5845 | 5342 |
| Uniform Mortgage-Backed Security 2.50% 7/1/2055 <sup>(a)(d)</sup>  | 151036 | 125252 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **160** |

---

------

The Bond Fund of America<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** |  |  |
| Uniform Mortgage-Backed Security 3.50% 7/1/2055 <sup>(a)(d)</sup>  | USD58,704 | $52860 |
| Uniform Mortgage-Backed Security 4.00% 7/1/2055 <sup>(a)(d)</sup>  | 688 | 640 |
| Uniform Mortgage-Backed Security 5.00% 7/1/2055 <sup>(a)(d)</sup>  | 580 | 568 |
| Uniform Mortgage-Backed Security 5.50% 7/1/2055 <sup>(a)(d)</sup>  | 5902 | 5902 |
| Uniform Mortgage-Backed Security 6.00% 7/1/2055 <sup>(a)(d)</sup>  | 1301 | 1322 |
| Uniform Mortgage-Backed Security 7.00% 7/1/2055 <sup>(a)(d)</sup>  | 35090 | 36948 |
| Uniform Mortgage-Backed Security 2.00% 8/1/2055 <sup>(a)(d)</sup>  | 18486 | 14644 |
| Uniform Mortgage-Backed Security 3.00% 8/1/2055 <sup>(a)(d)</sup>  | 9047 | 7828 |
| Uniform Mortgage-Backed Security 4.00% 8/1/2055 <sup>(a)(d)</sup>  | 1456 | 1354 |
| Uniform Mortgage-Backed Security 6.50% 8/1/2055 <sup>(a)(d)</sup>  | 10953 | 11294 |
| Uniform Mortgage-Backed Security 7.00% 8/1/2055 <sup>(a)(d)</sup>  | 30276 | 31760 |
|  |  | 3042615 |
| **Commercial mortgage-backed securities 3.48%** |  |  |
| ALA Trust, Series 2025-OANA, Class A, (1-month USD CME Term SOFR + 1.7426%) 6.043% <br> 6/15/2040 <sup>(a)(b)(e)</sup>  | 11443 | 11524 |
| AMSR Trust, Series 2025-SFR1, Class A, 3.655% 6/17/2042 <sup>(a)(e)</sup>  | 11892 | 11381 |
| ARES Commercial Mortgage Trust, Series 24-IND, Class A, (1-month USD CME Term SOFR + 1.69%) 6.003% <br> 7/15/2041 <sup>(a)(b)(e)</sup>  | 1251 | 1255 |
| Bank Commercial Mortgage Trust, Series 2019-BN16, Class A4, 4.005% 2/15/2052 <sup>(a)</sup>  | 770 | 754 |
| Bank Commercial Mortgage Trust, Series 2019-BN17, Class A4, 3.714% 4/15/2052 <sup>(a)</sup>  | 100 | 97 |
| Bank Commercial Mortgage Trust, Series 2023-5YR3, Class AS, 7.315% 9/15/2056 <sup>(a)(b)</sup>  | 684 | 732 |
| Bank Commercial Mortgage Trust, Series 2023-5YR4, Class AS, 7.274% 12/15/2056 <sup>(a)(b)</sup>  | 500 | 536 |
| Bank Commercial Mortgage Trust, Series 2024-5YR11, Class AS, 6.139% 11/15/2057 <sup>(a)</sup>  | 3537 | 3697 |
| Bank Commercial Mortgage Trust, Series 2018-BN10, Class A4, 3.428% 2/17/2061 <sup>(a)</sup>  | 123 | 120 |
| Bank Commercial Mortgage Trust, Series 2019-BN19, Class A3, 3.183% 8/15/2061 <sup>(a)</sup>  | 1018 | 953 |
| Bank Commercial Mortgage Trust, Series 2020-BN26, Class A4, 2.403% 3/15/2063 <sup>(a)</sup>  | 295 | 266 |
| Bank5, Series 2025-5YR14, Class A3, 5.646% 4/15/2058 <sup>(a)</sup>  | 15601 | 16254 |
| Benchmark Mortgage Trust, Series 2018-B8, Class A5, 4.232% 1/15/2052 <sup>(a)</sup>  | 2541 | 2490 |
| Benchmark Mortgage Trust, Series 2018-B7, Class A4, 4.51% 5/15/2053 <sup>(a)(b)</sup>  | 781 | 776 |
| Benchmark Mortgage Trust, Series 2024-V5, Class AM, 6.417% 1/10/2057 <sup>(a)</sup>  | 3361 | 3506 |
| Benchmark Mortgage Trust, Series 2024-V11, Class AM, 6.201% 11/15/2057 <sup>(a)</sup>  | 2174 | 2276 |
| Benchmark Mortgage Trust, Series 2025-V14, Class A4, 5.66% 4/15/2058 <sup>(a)</sup>  | 8867 | 9248 |
| BMO Mortgage Trust, Series 2024-5C5, Class AS, 6.364% 2/15/2057 <sup>(a)(b)</sup>  | 2774 | 2907 |
| BMO Mortgage Trust, Series 2025-5C9, Class A3, 5.779% 4/15/2058 <sup>(a)</sup>  | 7780 | 8129 |
| BX Trust, Series 2022-CSMO, Class A, (1-month USD CME Term SOFR + 2.115%) 6.427% 6/15/2027 <sup>(a)(b)(e)</sup>  | 8476 | 8540 |
| BX Trust, Series 2024-KING, Class A, (1-month USD CME Term SOFR + 1.541%) 5.853% 5/15/2034 <sup>(a)(b)(e)</sup>  | 2183 | 2186 |
| BX Trust, Series 2021-VOLT, Class A, (1-month USD CME Term SOFR + 0.814%) 5.126% 9/15/2036 <sup>(a)(b)(e)</sup>  | 14268 | 14228 |
| BX Trust, Series 2021-VOLT, Class B, (1-month USD CME Term SOFR + 1.064%) 5.376% 9/15/2036 <sup>(a)(b)(e)</sup>  | 552 | 550 |
| BX Trust, Series 2021-ARIA, Class B, (1-month USD CME Term SOFR + 1.411%) 5.723% 10/15/2036 <sup>(a)(b)(e)</sup>  | 995 | 994 |
| BX Trust, Series 2021-ARIA, Class C, (1-month USD CME Term SOFR + 1.76%) 6.072% 10/15/2036 <sup>(a)(b)(e)</sup>  | 996 | 995 |
| BX Trust, Series 2021-RISE, Class A, (1-month USD CME Term SOFR + 0.862%) 5.174% 11/15/2036 <sup>(a)(b)(e)</sup>  | 10670 | 10666 |
| BX Trust, Series 2022-IND, Class A, (1-month USD CME Term SOFR + 1.491%) 5.803% 4/15/2037 <sup>(a)(b)(e)</sup>  | 3395 | 3400 |
| BX Trust, Series 2021-SOAR, Class A, (1-month USD CME Term SOFR + 0.784%) 5.096% 6/15/2038 <sup>(a)(b)(e)</sup>  | 1981 | 1981 |
| BX Trust, Series 2021-SOAR, Class B, (1-month USD CME Term SOFR + 0.984%) 5.296% 6/15/2038 <sup>(a)(b)(e)</sup>  | 382 | 382 |
| BX Trust, Series 2021-SOAR, Class C, (1-month USD CME Term SOFR + 1.214%) 5.526% 6/15/2038 <sup>(a)(b)(e)</sup>  | 259 | 259 |
| BX Trust, Series 2021-SOAR, Class D, (1-month USD CME Term SOFR + 1.514%) 5.826% 6/15/2038 <sup>(a)(b)(e)</sup>  | 654 | 654 |
| BX Trust, Series 2021-ACNT, Class A, (1-month USD CME Term SOFR + 0.964%) 5.276% 11/15/2038 <sup>(a)(b)(e)</sup>  | 8555 | 8555 |
| BX Trust, Series 2021-ACNT, Class B, (1-month USD CME Term SOFR + 1.364%) 5.676% 11/15/2038 <sup>(a)(b)(e)</sup>  | 291 | 290 |
| BX Trust, Series 2021-ACNT, Class C, (1-month USD CME Term SOFR + 1.614%) 5.926% 11/15/2038 <sup>(a)(b)(e)</sup>  | 86 | 86 |
| BX Trust, Series 2021-ACNT, Class D, (1-month USD CME Term SOFR + 1.964%) 6.276% 11/15/2038 <sup>(a)(b)(e)</sup>  | 129 | 129 |
| BX Trust, Series 2022-AHP, Class A, (1-month USD CME Term SOFR + 0.99%) 5.302% 2/15/2039 <sup>(a)(b)(e)</sup>  | 8600 | 8598 |
| BX Trust, Series 2024-AIRC, Class A, (1-month USD CME Term SOFR + 1.691%) 6.003% 8/15/2039 <sup>(a)(b)(e)</sup>  | 8000 | 8042 |
| BX Trust, Series 2024-BIO2, Class A, 5.594% 8/13/2041 <sup>(a)(b)(e)</sup>  | 26909 | 27299 |
| CALI Mortgage Trust, Series 24-SUN, Class A, (1-month USD CME Term SOFR + 1.89%) 6.203% <br> 7/15/2041 <sup>(a)(b)(e)</sup>  | 1514 | 1518 |
| CART, Series 2024-DFW1, Class A, (1-month USD CME Term SOFR + 1.642%) 5.984% 8/15/2041 <sup>(a)(b)(e)</sup>  | 5461 | 5449 |
| Citigroup Commercial Mortgage Trust, Series 2023-SMRT, Class A, 6.015% 10/12/2040 <sup>(a)(b)(e)</sup>  | 19044 | 19682 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **161** | American Funds Insurance Series |

---

------

The Bond Fund of America<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Commercial mortgage-backed securities (continued)** |  |  |
| Citigroup Commercial Mortgage Trust, Series 2016-GC36, Class A5, 3.616% 2/10/2049 <sup>(a)</sup>  | USD610 | $602 |
| DATA 2023-CNTR Mortgage Trust, Series 2023-CNTR, Class A, 5.919% 8/12/2043 <sup>(a)(b)(e)</sup>  | 8924 | 9048 |
| DC Commercial Mortgage Trust, Series 2023-DC, Class A, 6.314% 9/10/2040 <sup>(a)(e)</sup>  | 966 | 1009 |
| DC Commercial Mortgage Trust, Series 2023-DC, Class B, 6.804% 9/10/2040 <sup>(a)(e)</sup>  | 1121 | 1177 |
| DC Commercial Mortgage Trust, Series 2023-DC, Class C, 7.379% 9/10/2040 <sup>(a)(b)(e)</sup>  | 862 | 904 |
| Deutsche Bank Commercial Mortgage Trust, Series 2016-C1, Class AM, 3.539% 5/10/2049 <sup>(a)</sup>  | 200 | 196 |
| Extended Stay America Trust, Series 2021-ESH, Class B, (1-month USD CME Term SOFR + 1.494%) 5.806% <br> 7/15/2038 <sup>(a)(b)(e)</sup>  | 564 | 564 |
| Extended Stay America Trust, Series 2021-ESH, Class C, (1-month USD CME Term SOFR + 1.814%) 6.126% <br> 7/15/2038 <sup>(a)(b)(e)</sup>  | 769 | 770 |
| Extended Stay America Trust, Series 2021-ESH, Class D, (1-month USD CME Term SOFR + 2.364%) 6.676% <br> 7/15/2038 <sup>(a)(b)(e)</sup>  | 588 | 590 |
| FIVE Mortgage Trust, Series 2023-V1, Class A3, 5.668% 2/10/2056 <sup>(a)</sup>  | 2432 | 2493 |
| Fontainebleau Miami Beach Trust, Series 2024-FBLU, Class A, (1-month USD CME Term SOFR + 1.45%) <br> 5.762% 12/15/2029 <sup>(a)(b)(e)</sup>  | 1508 | 1510 |
| GS Mortgage Securities Trust, Series 2024-70P, Class A, 5.487% 3/10/2041 <sup>(a)(b)(e)</sup>  | 10443 | 10507 |
| GS Mortgage Securities Trust, Series 2017-GS7, Class A4, 3.43% 8/10/2050 <sup>(a)</sup>  | 400 | 389 |
| GS Mortgage Securities Trust, Series 2019-GC38, Class A4, 3.968% 2/10/2052 <sup>(a)</sup>  | 100 | 97 |
| GS Mortgage Securities Trust, Series 2020-GC47, Class A5, 2.377% 5/12/2053 <sup>(a)</sup>  | 1536 | 1386 |
| Hawaii Hotel Trust, Series 2025-MAUI, Class A, (1-month USD CME Term SOFR + 1.393%) 5.705% <br>3/15/2042 <sup>(a)(b)(e)</sup>  | 8260 | 8276 |
| Houston Galleria Mall Trust, Series 2025-HGLR, Class A, 5.644% 2/5/2045 <sup>(a)(b)(e)</sup>  | 15120 | 15543 |
| HTL Commercial Mortgage Trust, Series 2024-T53, Class A, 5.875% 5/10/2039 <sup>(a)(b)(e)</sup>  | 1478 | 1494 |
| Hudson Yards Mortgage Trust, Series 2025-SPRL, Class A, 5.649% 1/13/2040 <sup>(a)(b)(e)</sup>  | 24720 | 25509 |
| INTOWN Mortgage Trust, Series 2025-STAY, Class A, (1-month USD CME Term SOFR + 1.35%) 5.662% <br>3/15/2042 <sup>(a)(b)(e)</sup>  | 28416 | 28334 |
| JPMDB Commercial Mortgage Securities Trust, Series 2017-C5, Class A5, 3.694% 3/15/2050 <sup>(a)</sup>  | 640 | 623 |
| JPMDB Commercial Mortgage Securities Trust, Series 2017-C7, Class A5, 3.409% 10/15/2050 <sup>(a)</sup>  | 240 | 233 |
| JPMorgan Chase Commercial Mortgage Securities Trust, Series 2022-OPO, Class A, 3.024% 1/5/2039 <sup>(a)(e)</sup>  | 6854 | 6250 |
| JPMorgan Chase Commercial Mortgage Securities Trust, Series 2016-JP4, Class A4, 3.648% <br> 12/15/2049 <sup>(a)(b)</sup>  | 2040 | 2008 |
| KSL Commercial Mortgage Trust, Series 2024-HT2, Class A, (1-month USD CME Term SOFR + 1.542%) <br> 5.854% 12/15/2039 <sup>(a)(b)(e)</sup>  | 13405 | 13400 |
| MHC Commercial Mortgage Trust, CMO, Series 2021-MHC, Class A, (1-month USD CME Term SOFR + <br> 0.915%) 5.227% 4/15/2038 <sup>(a)(b)(e)</sup>  | 19 | 19 |
| Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C22, Class A-4, 3.306% 4/15/2048 <sup>(a)</sup>  | 97 | 96 |
| Morgan Stanley Bank of America Merrill Lynch Trust, Series 2016-C32, Class A-4, 3.72% 12/15/2049 <sup>(a)</sup>  | 245 | 242 |
| Morgan Stanley Capital I Trust, Series 2015-UBS8, Class AS, 4.114% 12/15/2048 <sup>(a)</sup>  | 730 | 718 |
| SDR Commercial Mortgage Trust, Series 2024-DSNY, Class A, (1-month USD CME Term SOFR + 1.392%) <br> 5.703% 5/15/2039 <sup>(a)(b)(e)</sup>  | 3848 | 3848 |
| SLG Office Trust, Series 2021-OVA, Class A, 2.585% 7/15/2041 <sup>(a)(e)</sup>  | 4065 | 3571 |
| SREIT Trust, Series 2021-FLWR, Class B, (1-month USD CME Term SOFR + 1.04%) 5.352% 7/15/2036 <sup>(a)(b)(e)</sup>  | 800 | 799 |
| SREIT Trust, Series 2021-MFP, Class B, (1-month USD CME Term SOFR + 1.194%) 5.506% 11/15/2038 <sup>(a)(b)(e)</sup>  | 221 | 221 |
| SREIT Trust, Series 2021-MFP, Class C, (1-month USD CME Term SOFR + 1.443%) 5.755% 11/15/2038 <sup>(a)(b)(e)</sup>  | 118 | 118 |
| SWCH Commercial Mortgage Trust, Series 2025-DATA, Class A, (1-month USD CME Term SOFR + 1.443%) <br> 5.755% 3/15/2042 <sup>(a)(b)(e)</sup>  | 26882 | 26728 |
| Wells Fargo Commercial Mortgage Trust, Series 2015-SG1, Class A4, 3.789% 9/15/2048 <sup>(a)</sup>  | 1132 | 1129 |
| Wells Fargo Commercial Mortgage Trust, Series 2016-C37, Class A5, 3.794% 12/15/2049 <sup>(a)</sup>  | 2550 | 2515 |
| Wells Fargo Commercial Mortgage Trust, Series 2019-C54, Class A4, 3.146% 12/15/2052 <sup>(a)</sup>  | 1019 | 963 |
| Wells Fargo Commercial Mortgage Trust, Series 2024-5C2, Class A3, 5.92% 11/15/2057 <sup>(a)</sup>  | 5667 | 5941 |
| Wells Fargo Commercial Mortgage Trust, Series 2017-RC1, Class A4, 3.631% 1/15/2060 <sup>(a)</sup>  | 205 | 202 |
|  |  | 381406 |
| **Collateralized mortgage-backed obligations (privately originated) 3.35%** |  |  |
| Arroyo Mortgage Trust, Series 2021-1R, Class A1, 1.175% 10/25/2048 <sup>(a)(b)(e)</sup>  | 1747 | 1578 |
| Arroyo Mortgage Trust, Series 2020-1, Class A1A, 1.662% 3/25/2055 <sup>(a)(e)</sup>  | 64 | 62 |
| Arroyo Mortgage Trust, Series 2022-1, Class A1A, 2.495% 12/25/2056 (3.495% on 2/25/2026) <sup>(a)(e)(f)</sup>  | 4257 | 4094 |
| Atlas SP, Series 2024-RPL1, Class A1, 3.85% 4/25/2064 (4.85% on 8/1/2028) <sup>(a)(e)(f)</sup>  | 11821 | 11432 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **162** |

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------

The Bond Fund of America<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Collateralized mortgage-backed obligations (privately originated) (continued)** |  |  |
| BRAVO Residential Funding Trust, Series 2020-RPL2, Class A1, 2.00% 5/25/2059 <sup>(a)(b)(e)</sup>  | USD593 | $556 |
| BRAVO Residential Funding Trust, Series 2020-RPL1, Class A1, 2.50% 5/26/2059 <sup>(a)(b)(e)</sup>  | 243 | 237 |
| BRAVO Residential Funding Trust, Series 2022-RPL1, Class A1, 2.75% 9/25/2061 <sup>(a)(e)</sup>  | 675 | 619 |
| Cascade Funding Mortgage Trust, Series 2023-HB12, Class A, 4.25% 4/25/2033 <sup>(a)(b)(e)</sup>  | 197 | 195 |
| Cascade Funding Mortgage Trust, Series 2024-HB15, Class A, 4.00% 8/25/2034 <sup>(a)(b)(e)</sup>  | 2305 | 2285 |
| Cascade Funding Mortgage Trust, Series 2024-RM5, Class A, 4.00% 10/25/2054 <sup>(a)(b)(e)</sup>  | 13815 | 13523 |
| CIM Trust, Series 2022-R2, Class A1, 3.75% 12/25/2061 <sup>(a)(b)(e)</sup>  | 5199 | 4955 |
| Citigroup Mortgage Loan Trust, Series 2020-EXP1, Class A1A, 1.804% 5/25/2060 <sup>(a)(b)(e)</sup>  | 122 | 114 |
| COLT Mortgage Loan Trust, Series 2021-5, Class A1, 1.726% 11/26/2066 <sup>(a)(b)(e)</sup>  | 1054 | 952 |
| Connecticut Avenue Securities Trust, Series 2022-R06, Class 1M1, (30-day Average USD-SOFR + 2.75%) <br>7.055% 5/25/2042 <sup>(a)(b)(e)</sup>  | 180 | 184 |
| Connecticut Avenue Securities Trust, Series 2023-R01, Class 1M1, (30-day Average USD-SOFR + 2.40%) <br> 6.705% 12/25/2042 <sup>(a)(b)(e)</sup>  | 465 | 478 |
| Connecticut Avenue Securities Trust, Series 2023-R04, Class 1M1, (30-day Average USD-SOFR + 2.30%) <br>6.605% 5/25/2043 <sup>(a)(b)(e)</sup>  | 2374 | 2425 |
| Connecticut Avenue Securities Trust, Series 2023-R05, Class 1M1, (30-day Average USD-SOFR + 1.90%) <br> 6.205% 6/25/2043 <sup>(a)(b)(e)</sup>  | 1415 | 1429 |
| Connecticut Avenue Securities Trust, Series 2023-R06, Class 1M1, (30-day Average USD-SOFR + 1.70%) <br> 6.005% 7/25/2043 <sup>(a)(b)(e)</sup>  | 731 | 735 |
| Connecticut Avenue Securities Trust, Series 2024-R01, Class 1M1, (30-day Average USD-SOFR + 1.05%) <br> 5.355% 1/25/2044 <sup>(a)(b)(e)</sup>  | 3393 | 3393 |
| Connecticut Avenue Securities Trust, Series 2024-R01, Class 1M2, (30-day Average USD-SOFR + 1.80%) <br> 6.105% 1/25/2044 <sup>(a)(b)(e)</sup>  | 507 | 513 |
| Connecticut Avenue Securities Trust, Series 2024-R02, Class 1M1, (30-day Average USD-SOFR + 1.10%) <br> 5.405% 2/25/2044 <sup>(a)(b)(e)</sup>  | 354 | 354 |
| Connecticut Avenue Securities Trust, Series 2024-R02, Class 1M2, (30-day Average USD-SOFR + 1.80%) <br> 6.105% 2/25/2044 <sup>(a)(b)(e)</sup>  | 1053 | 1064 |
| Connecticut Avenue Securities Trust, Series 2024-R04, Class 1M1, (30-day Average USD-SOFR + 1.10%) <br> 5.405% 5/25/2044 <sup>(a)(b)(e)</sup>  | 2713 | 2713 |
| Connecticut Avenue Securities Trust, Series 2024-R06, Class 1M1, (30-day Average USD-SOFR + 1.05%) <br> 5.355% 9/25/2044 <sup>(a)(b)(e)</sup>  | 966 | 966 |
| Connecticut Avenue Securities Trust, Series 2024-R06, Class 1M2, (30-day Average USD-SOFR + 1.60%) <br> 5.905% 9/25/2044 <sup>(a)(b)(e)</sup>  | 1584 | 1591 |
| Connecticut Avenue Securities Trust, Series 2025-R02, Class 1A1, (30-day Average USD-SOFR + 1.00%) <br> 5.305% 2/25/2045 <sup>(a)(b)(e)</sup>  | 2005 | 2007 |
| Connecticut Avenue Securities Trust, Series 2025-R02, Class 1M1, (30-day Average USD-SOFR + 1.15%) <br> 5.455% 2/25/2045 <sup>(a)(b)(e)</sup>  | 5202 | 5209 |
| Connecticut Avenue Securities Trust, Series 2025-R04, Class 1M1, (30-day Average USD-SOFR + 1.20%) <br>5.505% 5/25/2045 <sup>(a)(b)(e)</sup>  | 6774 | 6791 |
| Flagstar Mortgage Trust, Series 2021-8INV, Class A3, 2.50% 9/25/2051 <sup>(a)(b)(e)</sup>  | 1700 | 1385 |
| Flagstar Mortgage Trust, Series 2021-11INV, Class A4, 2.50% 11/25/2051 <sup>(a)(b)(e)</sup>  | 1872 | 1528 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA5, Class M1A, (30-day Average <br> USD-SOFR + 2.95%) 7.255% 6/25/2042 <sup>(a)(b)(e)</sup>  | 132 | 135 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA6, Class M1A, (30-day Average <br> USD-SOFR + 2.15%) 6.455% 9/25/2042 <sup>(a)(b)(e)</sup>  | 209 | 211 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA6, Class M1B, (30-day Average <br> USD-SOFR + 3.70%) 8.005% 9/25/2042 <sup>(a)(b)(e)</sup>  | 1519 | 1601 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2024-DNA1, Class M1, (30-day Average <br> USD-SOFR + 1.35%) 5.655% 2/25/2044 <sup>(a)(b)(e)</sup>  | 3318 | 3326 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2024-DNA2, Class M1, (30-day Average <br> USD-SOFR + 1.20%) 5.505% 5/25/2044 <sup>(a)(b)(e)</sup>  | 13353 | 13381 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2024-DNA3, Class M1, (30-day Average <br> USD-SOFR + 1.00%) 5.305% 10/25/2044 <sup>(a)(b)(e)</sup>  | 3944 | 3944 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2024-DNA3, Class M2, (30-day Average <br> USD-SOFR + 1.45%) 5.755% 10/25/2044 <sup>(a)(b)(e)</sup>  | 1648 | 1652 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2025-DNA2, Class A1, (30-day Average <br> USD-SOFR + 1.10%) 5.405% 5/25/2045 <sup>(a)(b)(e)</sup>  | 2978 | 2981 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2025-DNA2, Class M1, (30-day Average <br> USD-SOFR + 1.20%) 5.505% 5/25/2045 <sup>(a)(b)(e)</sup>  | 9130 | 9156 |
| GCAT Trust, Series 2024-NQM2, Class A1, 6.085% 6/25/2059 (7.359% on 5/1/2028) <sup>(a)(e)(f)</sup>  | 4454 | 4493 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| **163** | American Funds Insurance Series |

---

------

The Bond Fund of America<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Collateralized mortgage-backed obligations (privately originated) (continued)** |  |  |
| GCAT Trust, Series 2021-NQM6, Class A1, 1.855% 8/25/2066 <sup>(a)(b)(e)</sup>  | USD1,772 | $1607 |
| GS Mortgage-Backed Securities Trust, Series 2024-RPL2, Class A1, 3.75% 7/25/2061 (4.75% on 2/1/2028) <br> <sup>(a)(e)(f)</sup>  | 694 | 677 |
| Home Partners of America Trust, Series 2021-2, Class A, 1.901% 12/17/2026 <sup>(a)(e)</sup>  | 4556 | 4388 |
| HOMES Trust, Series 2024-NQM1, Class A1, 5.915% 7/25/2069 (6.915% on 7/1/2028) <sup>(a)(e)(f)</sup>  | 15394 | 15497 |
| JP Morgan Mortgage Trust, Series 2024-INV1, Class A2, 6.00% 4/25/2055 <sup>(a)(b)(e)</sup>  | 638 | 643 |
| Legacy Mortgage Asset Trust, Series 2021-GS2, Class A1, 5.75% 4/25/2061 <sup>(a)(e)</sup>  | 621 | 622 |
| Legacy Mortgage Asset Trust, Series 2021-GS5, Class A1, 2.25% 7/25/2067 (6.25% on 11/25/2025) <sup>(a)(e)(f)</sup>  | 1921 | 1919 |
| MFRA Trust, Series 2021-RPL1, Class A1, 1.131% 7/25/2060 <sup>(a)(b)(e)</sup>  | 2027 | 1847 |
| MFRA Trust, Series 2024-NQM2, Class A1, 5.272% 8/25/2069 (6.272% on 8/1/2028) <sup>(a)(e)(f)</sup>  | 23624 | 23561 |
| Onslow Bay Financial Mortgage Loan Trust, Series 2024-HYB1, Class A1, 3.645% 3/25/2053 <sup>(a)(b)(e)</sup>  | 2453 | 2418 |
| Onslow Bay Financial, LLC, Series 2024-NQM5, Class A1, 5.988% 3/25/2028 (6.988% on 3/1/2028) <sup>(a)(e)(f)</sup>  | 6519 | 6567 |
| Onslow Bay Financial, LLC, Series 2024-HYB2, Class A1, 3.677% 4/25/2053 <sup>(a)(b)(e)</sup>  | 1880 | 1878 |
| Onslow Bay Financial, LLC, Series 2024-NQM4, Class A1, 6.067% 1/25/2064 (7.067% on 2/1/2028) <sup>(a)(e)(f)</sup>  | 3385 | 3411 |
| Onslow Bay Financial, LLC, Series 2024-NQM7, Class A1, 6.243% 3/25/2064 (7.243% on 4/1/2028) <sup>(a)(e)(f)</sup>  | 7224 | 7304 |
| Onslow Bay Financial, LLC, Series 2024-NQM10, Class A1, 6.18% 5/25/2064 (7.18% on 6/1/2028) <sup>(a)(e)(f)</sup>  | 7021 | 7087 |
| Onslow Bay Financial, LLC, Series 2024-NQM8, Class A1, 6.233% 5/25/2064 (7.233% on 5/1/2028) <sup>(a)(e)(f)</sup>  | 17725 | 17931 |
| Onslow Bay Financial, LLC, Series 2024-NQM13, Class A1, 5.116% 6/25/2064 (6.116% on 8/1/2028) <sup>(a)(e)(f)</sup>  | 5192 | 5176 |
| Onslow Bay Financial, LLC, Series 2024-NQM11, Class A1, 5.875% 6/25/2064 (6.825% on 7/1/2028) <sup>(a)(e)(f)</sup>  | 19510 | 19630 |
| PRKCM Trust, Series 2021-AFC2, Class A1, 2.071% 11/25/2056 <sup>(a)(b)(e)</sup>  | 1303 | 1156 |
| Progress Residential Trust, Series 2025-SFR3, Class A, 3.39% 7/17/2030 <sup>(a)(e)</sup>  | 4038 | 3805 |
| Progress Residential Trust, Series 2022-SFR3, Class A, 3.20% 4/17/2039 <sup>(a)(e)</sup>  | 1084 | 1058 |
| Progress Residential Trust, Series 2024-SFR2, Class B, 3.40% 4/17/2041 <sup>(a)(b)(e)</sup>  | 1044 | 991 |
| Progress Residential Trust, Series 2025-SFR2, Class A, 3.305% 4/17/2042 <sup>(a)(e)</sup>  | 14345 | 13519 |
| PRP Advisors, LLC, Series 2025-RPL3, Class A1, 3.25% 4/25/2055 (4.25% on 4/1/2028) <sup>(a)(e)(f)</sup>  | 6176 | 5913 |
| Starwood Mortgage Residential Trust, Series 2024-SFR4, Class A, (1-month USD CME Term SOFR + 1.75%) <br> 6.062% 10/17/2041 <sup>(a)(b)(e)</sup>  | 6368 | 6410 |
| Towd Point Mortgage Trust, Series 2020-4, Class A1, 1.75% 10/25/2060 <sup>(a)(e)</sup>  | 7476 | 6786 |
| Towd Point Mortgage Trust, Series 2024-3, Class A1A, 5.107% 7/25/2065 <sup>(a)(b)(e)</sup>  | 3356 | 3424 |
| Treehouse Park Improvement Association No.1 9.75% 12/1/2033 <sup>(e)(g)</sup>  | 1423 | 1423 |
| Tricon Residential Trust, Series 2021-SFR1, Class A, 1.943% 7/17/2038 <sup>(a)(e)</sup>  | 5021 | 4881 |
| Tricon Residential Trust, Series 2024-SFR2, Class A, 4.75% 6/17/2040 <sup>(a)(e)</sup>  | 8569 | 8597 |
| Tricon Residential Trust, Series 2024-SFR3, Class A, 4.50% 8/17/2041 <sup>(a)(e)</sup>  | 7475 | 7435 |
| Tricon Residential Trust, Series 2024-SFR4, Class A, 4.30% 11/17/2041 <sup>(a)(e)</sup>  | 3360 | 3315 |
| Verus Securitization Trust, Series 2024-3, Class A1, 6.338% 4/25/2069 (7.338% on 4/1/2028) <sup>(a)(e)(f)</sup>  | 15504 | 15685 |
| Verus Securitization Trust, Series 2024-4, Class A1, 6.218% 6/25/2069 (7.218% on 5/1/2028) <sup>(a)(e)(f)</sup>  | 6574 | 6650 |
| Verus Securitization Trust, Series 2024-6, Class A1, 5.799% 7/25/2069 (6.799% on 7/1/2028) <sup>(a)(e)(f)</sup>  | 14079 | 14172 |
| Verus Securitization Trust, Series 2024-8, Class A1, 5.364% 10/25/2069 <sup>(a)(b)(e)</sup>  | 4413 | 4414 |
| Verus Securitization Trust, Series 2025-5, Class A1, 5.427% 6/25/2070 (6.427% on 6/1/2029) <sup>(a)(e)(f)</sup>  | 21776 | 22012 |
|  |  | 368056 |
| **Total mortgage-backed obligations** |  | 3792077 |
| **Corporate bonds, notes & loans 33.01%** | **Corporate bonds, notes & loans 33.01%** | **Corporate bonds, notes & loans 33.01%** |
| **Financials 11.08%** |  |  |
| AerCap Ireland Capital DAC 6.50% 7/15/2025  | 1798 | 1799 |
| AerCap Ireland Capital DAC 1.75% 1/30/2026  | 2841 | 2792 |
| AerCap Ireland Capital DAC 2.45% 10/29/2026  | 10289 | 10027 |
| AerCap Ireland Capital DAC 6.45% 4/15/2027  | 3994 | 4126 |
| Aero Capital Solutions, Inc., Term Loan, (1-month USD CME Term SOFR + 3.00%) <br>7.61% 11/17/2029 <sup>(b)(e)(g)(h)</sup>  | 7652 | 7595 |
| AIB Group PLC 6.608% 9/13/2029 (USD-SOFR + 2.33% on 9/13/2028) <sup>(e)(f)</sup>  | 1597 | 1690 |
| AIB Group PLC 5.871% 3/28/2035 (USD-SOFR + 1.91% on 3/28/2034) <sup>(e)(f)</sup>  | 1995 | 2058 |
| Alpha Bank SA 7.50% 6/16/2027 (1-year EUR Mid-Swap + 5.084% on 6/16/2026) <sup>(f)</sup>  | EUR437 | 539 |
| Alpha Bank SA 6.875% 6/27/2029 (1-year EUR-ICE Swap EURIBOR + 3.793% on 6/27/2028) <sup>(f)</sup>  | 2840 | 3708 |
| Alpha Bank SA 5.00% 5/12/2030 (1-year EUR-ICE Swap EURIBOR + 2.432% on 5/12/2029) <sup>(f)</sup>  | 4065 | 5102 |
| American Express Co. 6.338% 10/30/2026 (USD-SOFR + 1.33% on 10/30/2025) <sup>(f)</sup>  | USD604 | 608 |
| American Express Co. 6.489% 10/30/2031 (USD-SOFR + 1.94% on 10/30/2030) <sup>(f)</sup>  | 359 | 391 |
| American Express Co. 5.043% 5/1/2034 (USD-SOFR + 1.835% on 5/1/2033) <sup>(f)</sup>  | 1618 | 1634 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **164** |

---

------

The Bond Fund of America<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Financials (continued)** |  |  |
| American Express Co. 5.442% 1/30/2036 (USD-SOFR + 1.32% on 1/30/2035) <sup>(f)</sup>  | USD4,927 | $5031 |
| American Express Co. 5.667% 4/25/2036 (USD-SOFR + 1.79% on 4/25/2035) <sup>(f)</sup>  | 2464 | 2552 |
| American International Group, Inc. 4.85% 5/7/2030  | 3534 | 3592 |
| American International Group, Inc. 5.125% 3/27/2033  | 2749 | 2796 |
| Aon Corp. 5.35% 2/28/2033  | 1083 | 1116 |
| Aon North America, Inc. 5.15% 3/1/2029  | 3015 | 3089 |
| Aon North America, Inc. 5.30% 3/1/2031  | 1005 | 1040 |
| Aon North America, Inc. 5.45% 3/1/2034  | 2550 | 2621 |
| Aon North America, Inc. 5.75% 3/1/2054  | 1163 | 1147 |
| Arthur J. Gallagher & Co. 4.85% 12/15/2029  | 3140 | 3188 |
| Arthur J. Gallagher & Co. 5.15% 2/15/2035  | 1845 | 1847 |
| Arthur J. Gallagher & Co. 5.55% 2/15/2055  | 1845 | 1771 |
| Banco Santander, SA 5.147% 8/18/2025  | 4000 | 4003 |
| Banco Santander, SA 1.722% 9/14/2027 (1-year UST Yield Curve Rate T Note Constant Maturity + 0.90% on <br> 9/14/2026) <sup>(f)</sup>  | 1400 | 1353 |
| Bank of America Corp. 2.551% 2/4/2028 (USD-SOFR + 1.05% on 2/4/2027) <sup>(f)</sup>  | 4295 | 4176 |
| Bank of America Corp. 4.376% 4/27/2028 (USD-SOFR + 1.58% on 4/27/2027) <sup>(f)</sup>  | 2635 | 2635 |
| Bank of America Corp. 2.087% 6/14/2029 (USD-SOFR + 1.06% on 6/14/2028) <sup>(f)</sup>  | 3202 | 3002 |
| Bank of America Corp. 5.819% 9/15/2029 (USD-SOFR + 1.57% on 9/15/2028) <sup>(f)</sup>  | 339 | 353 |
| Bank of America Corp. 3.974% 2/7/2030 (3-month USD CME Term SOFR + 1.472% on 2/7/2029) <sup>(f)</sup>  | 1150 | 1132 |
| Bank of America Corp. 2.884% 10/22/2030 (3-month USD CME Term SOFR + 1.19% on 10/22/2029) <sup>(f)</sup>  | 3691 | 3456 |
| Bank of America Corp. 5.162% 1/24/2031 (USD-SOFR + 1.00% on 1/24/2030) <sup>(f)</sup>  | 5024 | 5151 |
| Bank of America Corp. 1.922% 10/24/2031 (USD-SOFR + 1.37% on 10/24/2030) <sup>(f)</sup>  | 20927 | 18255 |
| Bank of America Corp. 2.299% 7/21/2032 (USD-SOFR + 1.22% on 7/21/2031) <sup>(f)</sup>  | 36155 | 31516 |
| Bank of Ireland Group PLC 6.253% 9/16/2026 (1-year UST Yield Curve Rate T Note Constant Maturity + <br> 2.65% on 9/16/2025) <sup>(e)(f)</sup>  | 4850 | 4866 |
| Bank of New York Mellon Corp. 4.975% 3/14/2030 (USD-SOFR + 1.085% on 3/14/2029) <sup>(f)</sup>  | 1858 | 1903 |
| Bank of New York Mellon Corp. 5.06% 7/22/2032 (USD-SOFR + 1.23% on 7/22/2031) <sup>(f)</sup>  | 5690 | 5826 |
| Bank of New York Mellon Corp. 5.188% 3/14/2035 (USD-SOFR + 1.418% on 3/14/2034) <sup>(f)</sup>  | 2378 | 2409 |
| Bank of Nova Scotia (The) 5.25% 6/12/2028  | 1370 | 1412 |
| Banque Federative du Credit Mutuel 0.82% 10/16/2026  | JPY300,000 | 2074 |
| Barclays PLC 4.837% 9/10/2028 (USD-SOFR + 1.34% on 9/10/2027) <sup>(f)</sup>  | USD2,585 | 2605 |
| Block, Inc. 2.75% 6/1/2026  | 1975 | 1935 |
| BNP Paribas SA 2.591% 1/20/2028 (USD-SOFR + 1.228% on 1/20/2027) <sup>(e)(f)</sup>  | 13134 | 12752 |
| BNP Paribas SA 2.159% 9/15/2029 (USD-SOFR + 1.218% on 9/15/2028) <sup>(e)(f)</sup>  | 3594 | 3332 |
| BNP Paribas SA 5.738% 2/20/2035 (USD-SOFR + 1.88% on 2/20/2034) <sup>(e)(f)</sup>  | 4117 | 4266 |
| BPCE SA 1.652% 10/6/2026 (USD-SOFR + 1.52% on 10/6/2025) <sup>(e)(f)</sup>  | 4729 | 4691 |
| BPCE SA 0.895% 12/14/2026  | JPY100,000 | 691 |
| BPCE SA 5.975% 1/18/2027 (USD-SOFR + 2.10% on 1/18/2026) <sup>(e)(f)</sup>  | USD2,150 | 2165 |
| BPCE SA 6.714% 10/19/2029 (USD-SOFR + 2.27% on 10/19/2028) <sup>(e)(f)</sup>  | 5000 | 5297 |
| BPCE SA 5.716% 1/18/2030 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.959% on <br> 1/18/2029) <sup>(e)(f)</sup>  | 1285 | 1323 |
| BPCE SA 5.876% 1/14/2031 (USD-SOFR + 1.68% on 1/14/2030) <sup>(e)(f)</sup>  | 1845 | 1914 |
| BPCE SA 5.389% 5/28/2031 (USD-SOFR + 1.581% on 5/28/2030) <sup>(e)(f)</sup>  | 3814 | 3885 |
| BPCE SA 5.936% 5/30/2035 (USD-SOFR + 1.85% on 5/30/2034) <sup>(e)(f)</sup>  | 4503 | 4617 |
| BPCE SA 6.293% 1/14/2036 (USD-SOFR + 2.04% on 1/14/2035) <sup>(e)(f)</sup>  | 10005 | 10512 |
| CaixaBank, SA 5.673% 3/15/2030 (USD-SOFR + 1.78% on 3/15/2029) <sup>(e)(f)</sup>  | 10948 | 11326 |
| CaixaBank, SA 6.84% 9/13/2034 (USD-SOFR + 2.77% on 9/13/2033) <sup>(e)(f)</sup>  | 1900 | 2088 |
| CaixaBank, SA 6.037% 6/15/2035 (USD-SOFR + 2.26% on 9/15/2034) <sup>(e)(f)</sup>  | 3953 | 4138 |
| Canadian Imperial Bank of Commerce 5.237% 6/28/2027  | 2650 | 2699 |
| Canadian Imperial Bank of Commerce 4.857% 3/30/2029 (USD-SOFR + 1.03% on 3/31/2028) <sup>(f)</sup>  | 31095 | 31435 |
| Capital One Financial Corp. 4.985% 7/24/2026 (USD-SOFR + 2.16% on 7/24/2025) <sup>(f)</sup>  | 2430 | 2430 |
| Capital One Financial Corp. 5.468% 2/1/2029 (USD-SOFR + 2.08% on 2/1/2028) <sup>(f)</sup>  | 515 | 527 |
| Capital One Financial Corp. 6.377% 6/8/2034 (USD-SOFR + 2.86% on 6/8/2033) <sup>(f)</sup>  | 1204 | 1282 |
| Capital One Financial Corp. 6.051% 2/1/2035 (USD-SOFR + 2.26% on 2/1/2034) <sup>(f)</sup>  | 2920 | 3045 |
| Charles Schwab Corp. (The) 5.643% 5/19/2029 (USD-SOFR + 2.21% on 5/19/2028) <sup>(f)</sup>  | 2445 | 2535 |
| China Ping An Insurance Overseas (Holdings), Ltd. 2.85% 8/12/2031  | 526 | 470 |
| Chubb INA Holdings, LLC 3.35% 5/3/2026  | 2020 | 2005 |
| Chubb INA Holdings, LLC 5.00% 3/15/2034  | 4400 | 4485 |
| Chubb INA Holdings, LLC 4.35% 11/3/2045  | 2015 | 1745 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **165** | American Funds Insurance Series |

---

------

The Bond Fund of America<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Financials (continued)** |  |  |
| Citibank, NA 5.803% 9/29/2028  | USD4,100 | $4288 |
| Citigroup, Inc. 4.60% 3/9/2026  | 1800 | 1800 |
| Citigroup, Inc. 5.174% 2/13/2030 (USD-SOFR + 1.364% on 2/13/2029) <sup>(f)</sup>  | 7800 | 7960 |
| Citigroup, Inc. 4.542% 9/19/2030 (USD-SOFR + 1.338% on 9/19/2029) <sup>(f)</sup>  | 5103 | 5081 |
| Citigroup, Inc. 4.952% 5/7/2031 (USD-SOFR + 1.463% on 5/7/2030) <sup>(f)</sup>  | 21543 | 21794 |
| Citigroup, Inc. 3.057% 1/25/2033 (USD-SOFR + 1.351% on 1/25/2032) <sup>(f)</sup>  | 990 | 885 |
| Citigroup, Inc. 3.785% 3/17/2033 (USD-SOFR + 1.939% on 3/17/2032) <sup>(f)</sup>  | 3090 | 2889 |
| Citigroup, Inc. 6.02% 1/24/2036 (USD-SOFR + 1.83% on 1/24/2035) <sup>(f)</sup>  | 123 | 126 |
| Citigroup, Inc. 5.333% 3/27/2036 (USD-SOFR + 1.465% on 3/27/2035) <sup>(f)</sup>  | 1874 | 1889 |
| Citizens Financial Group, Inc. 5.841% 1/23/2030 (USD-SOFR + 2.01% on 1/23/2029) <sup>(f)</sup>  | 15346 | 15898 |
| Citizens Financial Group, Inc. 6.645% 4/25/2035 (USD-SOFR + 2.325% on 4/25/2034) <sup>(f)</sup>  | 4518 | 4872 |
| Corebridge Financial, Inc. 3.65% 4/5/2027  | 3913 | 3863 |
| Corebridge Financial, Inc. 3.85% 4/5/2029  | 3534 | 3464 |
| Corebridge Financial, Inc. 3.90% 4/5/2032  | 3964 | 3723 |
| Corebridge Financial, Inc. 4.35% 4/5/2042  | 361 | 304 |
| Credit Agricole SA 1.247% 1/26/2027 (USD-SOFR + 0.892% on 1/26/2026) <sup>(e)(f)</sup>  | 2450 | 2404 |
| Danske Bank AS 1.549% 9/10/2027 (1-year UST Yield Curve Rate T Note Constant Maturity + 0.73% on <br> 9/10/2026) <sup>(e)(f)</sup>  | 2990 | 2889 |
| Danske Bank AS 4.298% 4/1/2028 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.75% on <br>4/1/2027) <sup>(e)(f)</sup>  | 2975 | 2965 |
| Deutsche Bank AG 4.10% 1/13/2026  | 7305 | 7281 |
| Deutsche Bank AG 4.10% 1/13/2026  | 857 | 854 |
| Deutsche Bank AG 2.129% 11/24/2026 (USD-SOFR + 1.87% on 11/24/2025) <sup>(f)</sup>  | 27047 | 26776 |
| Deutsche Bank AG 2.552% 1/7/2028 (USD-SOFR + 1.318% on 1/7/2027) <sup>(f)</sup>  | 17595 | 17095 |
| Deutsche Bank AG 6.72% 1/18/2029 (USD-SOFR + 3.18% on 1/18/2028) <sup>(f)</sup>  | 7343 | 7715 |
| Deutsche Bank AG 6.819% 11/20/2029 (USD-SOFR + 2.51% on 11/20/2028) <sup>(f)</sup>  | 6271 | 6693 |
| Deutsche Bank AG 4.999% 9/11/2030 (USD-SOFR + 1.70% on 9/11/2029) <sup>(f)</sup>  | 6685 | 6737 |
| Deutsche Bank AG 3.547% 9/18/2031 (USD-SOFR + 3.043% on 9/18/2030) <sup>(f)</sup>  | 6750 | 6316 |
| Deutsche Bank AG 3.729% 1/14/2032 (USD-SOFR + 2.757% on 1/14/2031) <sup>(f)</sup>  | 3235 | 2965 |
| Deutsche Bank AG 5.403% 9/11/2035 (USD-SOFR + 2.05% on 9/11/2034) <sup>(f)</sup>  | 3200 | 3184 |
| DNB Bank ASA 1.535% 5/25/2027 (5-year UST Yield Curve Rate T Note Constant Maturity + 0.72% on <br>5/25/2026) <sup>(e)(f)</sup>  | 1200 | 1170 |
| Eurobank SA 2.00% 5/5/2027 (1-year EUR Mid-Swap + 2.398% on 5/5/2026) <sup>(f)</sup>  | EUR1,845 | 2158 |
| Eurobank SA 2.25% 3/14/2028 (1-year EUR Mid-Swap + 2.634% on 3/14/2027) <sup>(f)</sup>  | 4230 | 4943 |
| Eurobank SA 7.00% 1/26/2029 (1-year EUR Mid-Swap + 4.418% on 1/26/2028) <sup>(f)</sup>  | 3855 | 4999 |
| Eurobank SA 5.875% 11/28/2029 (1-year EUR Mid-Swap + 2.83% on 11/28/2028) <sup>(f)</sup>  | 12035 | 15435 |
| Eurobank SA 4.875% 4/30/2031 (5-year EUR Mid-Swap + 2.165% on 4/30/2030) <sup>(f)</sup>  | 390 | 489 |
| Fifth Third Bancorp 6.339% 7/27/2029 (USD-SOFR + 2.34% on 7/27/2028) <sup>(f)</sup>  | USD205 | 216 |
| Fifth Third Bancorp 4.895% 9/6/2030 (USD-SOFR + 1.486% on 9/6/2029) <sup>(f)</sup>  | 1968 | 1990 |
| Fifth Third Bancorp 5.631% 1/29/2032 (USD-SOFR + 1.84% on 1/29/2031) <sup>(f)</sup>  | 11396 | 11863 |
| Five Corners Funding Trust III 5.791% 2/15/2033 <sup>(e)</sup>  | 942 | 980 |
| Goldman Sachs Group, Inc. 1.431% 3/9/2027 (USD-SOFR + 0.795% on 3/9/2026) <sup>(f)</sup>  | 3030 | 2965 |
| Goldman Sachs Group, Inc. 1.542% 9/10/2027 (USD-SOFR + 0.818% on 9/10/2026) <sup>(f)</sup>  | 13275 | 12820 |
| Goldman Sachs Group, Inc. 1.948% 10/21/2027 (USD-SOFR + 0.913% on 10/21/2026) <sup>(f)</sup>  | 12997 | 12588 |
| Goldman Sachs Group, Inc. 2.64% 2/24/2028 (USD-SOFR + 1.114% on 2/24/2027) <sup>(f)</sup>  | 3703 | 3598 |
| Goldman Sachs Group, Inc. 3.615% 3/15/2028 (USD-SOFR + 1.846% on 3/15/2027) <sup>(f)</sup>  | 5534 | 5459 |
| Goldman Sachs Group, Inc. 4.937% 4/23/2028 (USD-SOFR + 1.319% on 4/23/2027) <sup>(f)</sup>  | 4895 | 4935 |
| Goldman Sachs Group, Inc. 5.727% 4/25/2030 (USD-SOFR + 1.265% on 4/25/2029) <sup>(f)</sup>  | 28930 | 30121 |
| Goldman Sachs Group, Inc. 5.049% 7/23/2030 (USD-SOFR + 1.21% on 7/23/2029) <sup>(f)</sup>  | 13759 | 13991 |
| Goldman Sachs Group, Inc. 4.692% 10/23/2030 (USD-SOFR + 1.135% on 10/23/2029) <sup>(f)</sup>  | 2441 | 2449 |
| Goldman Sachs Group, Inc. 5.218% 4/23/2031 (USD-SOFR + 1.58% on 4/23/2030) <sup>(f)</sup>  | 7315 | 7501 |
| Goldman Sachs Group, Inc. 5.016% 10/23/2035 (USD-SOFR + 1.42% on 10/23/2034) <sup>(f)</sup>  | 2929 | 2895 |
| Goldman Sachs Group, Inc. 5.536% 1/28/2036 (USD-SOFR + 1.38% on 1/28/2035) <sup>(f)</sup>  | 24589 | 25225 |
| Goldman Sachs Group, Inc. 2.908% 7/21/2042 (USD-SOFR + 1.40% on 7/21/2041) <sup>(f)</sup>  | 3160 | 2264 |
| HSBC Holdings PLC 2.206% 8/17/2029 (USD-SOFR + 1.285% on 8/17/2028) <sup>(f)</sup>  | 14232 | 13261 |
| HSBC Holdings PLC 2.871% 11/22/2032 (USD-SOFR + 1.41% on 11/22/2031) <sup>(f)</sup>  | 9437 | 8351 |
| HSBC Holdings PLC 5.45% 3/3/2036 (USD-SOFR + 1.56% on 3/3/2035) <sup>(f)</sup>  | 2000 | 2012 |
| ING Groep NV 6.083% 9/11/2027 (USD-SOFR + 1.56% on 9/11/2026) <sup>(f)</sup>  | 1680 | 1711 |
| Intercontinental Exchange, Inc. 5.25% 6/15/2031  | 1091 | 1132 |
| Intesa Sanpaolo SpA 5.71% 1/15/2026 <sup>(e)</sup>  | 15400 | 15436 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **166** |

---

------

The Bond Fund of America<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Financials (continued)** |  |  |
| Intesa Sanpaolo SpA 3.875% 7/14/2027 <sup>(e)</sup>  | USD6,250 | $6170 |
| Intesa Sanpaolo SpA 3.875% 1/12/2028 <sup>(e)</sup>  | 1986 | 1949 |
| Intesa Sanpaolo SpA 7.778% 6/20/2054 (1-year UST Yield Curve Rate T Note Constant Maturity + 3.90% on <br> 6/20/2053) <sup>(e)(f)</sup>  | 5100 | 5727 |
| Iron Mountain Information Management Services, Inc. 5.00% 7/15/2032 <sup>(e)</sup>  | 705 | 677 |
| JPMorgan Chase & Co. 1.04% 2/4/2027 (USD-SOFR + 0.695% on 2/4/2026) <sup>(f)</sup>  | 323 | 316 |
| JPMorgan Chase & Co. 6.07% 10/22/2027 (USD-SOFR + 1.33% on 10/22/2026) <sup>(f)</sup>  | 1400 | 1431 |
| JPMorgan Chase & Co. 5.04% 1/23/2028 (USD-SOFR + 1.19% on 1/23/2027) <sup>(f)</sup>  | 20000 | 20196 |
| JPMorgan Chase & Co. 5.571% 4/22/2028 (USD-SOFR + 0.93% on 4/22/2027) <sup>(f)</sup>  | 2678 | 2734 |
| JPMorgan Chase & Co. 4.979% 7/22/2028 (USD-SOFR + 0.93% on 7/22/2027) <sup>(f)</sup>  | 8670 | 8783 |
| JPMorgan Chase & Co. 4.203% 7/23/2029 (3-month USD CME Term SOFR + 1.522% on 7/23/2028) <sup>(f)</sup>  | 11980 | 11932 |
| JPMorgan Chase & Co. 5.581% 4/22/2030 (USD-SOFR + 1.16% on 4/22/2029) <sup>(f)</sup>  | 6480 | 6730 |
| JPMorgan Chase & Co. 4.995% 7/22/2030 (USD-SOFR + 1.125% on 7/22/2029) <sup>(f)</sup>  | 10724 | 10922 |
| JPMorgan Chase & Co. 4.603% 10/22/2030 (USD-SOFR + 1.04% on 10/22/2029) <sup>(f)</sup>  | 6549 | 6573 |
| JPMorgan Chase & Co. 5.103% 4/22/2031 (USD-SOFR + 1.435% on 4/22/2030) <sup>(f)</sup>  | 4720 | 4838 |
| JPMorgan Chase & Co. 1.953% 2/4/2032 (USD-SOFR + 1.065% on 2/4/2031) <sup>(f)</sup>  | 641 | 556 |
| JPMorgan Chase & Co. 2.545% 11/8/2032 (USD-SOFR + 1.18% on 11/8/2031) <sup>(f)</sup>  | 5313 | 4679 |
| JPMorgan Chase & Co. 5.294% 7/22/2035 (USD-SOFR + 1.46% on 7/22/2034) <sup>(f)</sup>  | 17099 | 17407 |
| JPMorgan Chase & Co. 4.946% 10/22/2035 (USD-SOFR + 1.34% on 10/22/2034) <sup>(f)</sup>  | 2790 | 2762 |
| JPMorgan Chase & Co. 5.572% 4/22/2036 (USD-SOFR + 1.68% on 4/22/2035) <sup>(f)</sup>  | 10233 | 10609 |
| Kasikornbank PCL (Hong Kong Branch) 3.343% 10/2/2031 (5-year UST Yield Curve Rate T Note Constant <br> Maturity + 1.70% on 10/2/2026) <sup>(f)</sup>  | 2415 | 2352 |
| KBC Groep NV 5.796% 1/19/2029 (1-year UST Yield Curve Rate T Note Constant Maturity + 2.10% on <br>1/19/2028) <sup>(e)(f)</sup>  | 1375 | 1420 |
| Lloyds Banking Group PLC 5.985% 8/7/2027 (1-year UST Yield Curve Rate T Note Constant Maturity + <br> 1.48% on 8/7/2026) <sup>(f)</sup>  | 1625 | 1650 |
| Lloyds Banking Group PLC 5.462% 1/5/2028 (1-year UST Yield Curve Rate T Note Constant Maturity + <br> 1.375% on 1/5/2027) <sup>(f)</sup>  | 200 | 203 |
| Lloyds Banking Group PLC 5.679% 1/5/2035 (1-year UST Yield Curve Rate T Note Constant Maturity + <br> 1.75% on 1/5/2034) <sup>(f)</sup>  | 1979 | 2032 |
| M&T Bank Corp. 7.413% 10/30/2029 (USD-SOFR + 2.80% on 10/30/2028) <sup>(f)</sup>  | 6528 | 7081 |
| M&T Bank Corp. 6.082% 3/13/2032 (USD-SOFR + 2.26% on 3/13/2031) <sup>(f)</sup>  | 6357 | 6715 |
| Marsh & McLennan Cos., Inc. 5.00% 3/15/2035  | 2285 | 2286 |
| Marsh & McLennan Cos., Inc. 5.35% 11/15/2044  | 250 | 246 |
| Marsh & McLennan Cos., Inc. 5.40% 3/15/2055  | 2060 | 1987 |
| MetLife Capital Trust IV, junior subordinated, 7.875% 12/15/2067 <br>(3-month USD CME Term SOFR + 4.222% on 12/15/2037) <sup>(e)(f)</sup>  | 1405 | 1544 |
| MetLife, Inc. 3.60% 11/13/2025  | 3490 | 3481 |
| MetLife, Inc. 5.375% 7/15/2033  | 1279 | 1332 |
| Metropolitan Life Global Funding I 5.40% 9/12/2028 <sup>(e)</sup>  | 840 | 871 |
| Metropolitan Life Global Funding I 4.85% 1/8/2029 <sup>(e)</sup>  | 2050 | 2089 |
| Metropolitan Life Global Funding I 5.15% 3/28/2033 <sup>(e)</sup>  | 619 | 629 |
| Mitsubishi UFJ Financial Group, Inc. 1.538% 7/20/2027 (1-year UST Yield Curve Rate T Note Constant <br> Maturity + 0.75% on 7/20/2026) <sup>(f)</sup>  | 6200 | 6017 |
| Mitsubishi UFJ Financial Group, Inc. 1.64% 10/13/2027 (1-year UST Yield Curve Rate T Note Constant <br> Maturity + 0.67% on 10/13/2026) <sup>(f)</sup>  | 2225 | 2149 |
| Mitsubishi UFJ Financial Group, Inc. 5.422% 2/22/2029 <br>(1-year UST Yield Curve Rate T Note Constant Maturity + 1.38% on 2/22/2028) <sup>(f)</sup>  | 1430 | 1468 |
| Mitsubishi UFJ Financial Group, Inc. 5.133% 7/20/2033 <br>(1-year UST Yield Curve Rate T Note Constant Maturity + 2.125% on 7/20/2032) <sup>(f)</sup>  | 763 | 773 |
| Mizuho Financial Group, Inc. 1.554% 7/9/2027 (1-year UST Yield Curve Rate T Note Constant Maturity + <br> 0.75% on 7/9/2026) <sup>(f)</sup>  | 1367 | 1327 |
| Mizuho Financial Group, Inc. 5.778% 7/6/2029 (1-year UST Yield Curve Rate T Note Constant Maturity + <br> 1.65% on 7/6/2028) <sup>(f)</sup>  | 1701 | 1767 |
| Mizuho Financial Group, Inc. 5.376% 5/26/2030 (1-year UST Yield Curve Rate T Note Constant Maturity + <br> 1.12% on 5/26/2029) <sup>(f)</sup>  | 2020 | 2078 |
| Morgan Stanley 1.512% 7/20/2027 (USD-SOFR + 0.858% on 7/20/2026) <sup>(f)</sup>  | 13336 | 12940 |
| Morgan Stanley 4.994% 4/12/2029 (USD-SOFR + 1.38% on 4/12/2028) <sup>(f)</sup>  | 350 | 355 |
| Morgan Stanley 5.164% 4/20/2029 (USD-SOFR + 1.59% on 4/20/2028) <sup>(f)</sup>  | 21869 | 22301 |
| Morgan Stanley 5.656% 4/18/2030 (USD-SOFR + 1.26% on 4/18/2029) <sup>(f)</sup>  | 21784 | 22631 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **167** | American Funds Insurance Series |

---

------

The Bond Fund of America<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Financials (continued)** |  |  |
| Morgan Stanley 4.654% 10/18/2030 (USD-SOFR + 1.10% on 10/18/2029) <sup>(f)</sup>  | USD1,704 | $1708 |
| Morgan Stanley 5.192% 4/17/2031 (USD-SOFR + 1.51% on 4/17/2030) <sup>(f)</sup>  | 4664 | 4782 |
| Morgan Stanley 1.794% 2/13/2032 (USD-SOFR + 1.034% on 2/13/2031) <sup>(f)</sup>  | 3031 | 2594 |
| Morgan Stanley 5.424% 7/21/2034 (USD-SOFR + 1.88% on 7/21/2033) <sup>(f)</sup>  | 11313 | 11593 |
| Morgan Stanley 5.32% 7/19/2035 (USD-SOFR + 1.555% on 7/19/2034) <sup>(f)</sup>  | 3069 | 3108 |
| Morgan Stanley 5.587% 1/18/2036 (USD-SOFR + 1.418% on 1/18/2035) <sup>(f)</sup>  | 14060 | 14438 |
| Morgan Stanley 5.664% 4/17/2036 (USD-SOFR + 1.757% on 4/17/2035) <sup>(f)</sup>  | 9846 | 10207 |
| Morgan Stanley Bank, N.A. 5.882% 10/30/2026  | 2775 | 2834 |
| MSCI, Inc. 3.25% 8/15/2033 <sup>(e)</sup>  | 695 | 610 |
| NatWest Group PLC 5.847% 3/2/2027 <br>(1-year UST Yield Curve Rate T Note Constant Maturity + 1.35% on 3/2/2026) <sup>(f)</sup>  | 3555 | 3587 |
| NatWest Group PLC 5.583% 3/1/2028 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.10% on <br> 3/1/2027) <sup>(f)</sup>  | 2170 | 2210 |
| Northwestern Mutual Life Insurance Co. (The) 4.90% 6/12/2028 <sup>(e)</sup>  | 2090 | 2132 |
| OneMain Finance Corp. 7.125% 3/15/2026  | 87 | 88 |
| Piraeus Bank SA 7.25% 7/13/2028 (1-year EUR Mid-Swap + 3.692% on 7/13/2027) <sup>(f)</sup>  | EUR565 | 725 |
| Piraeus Bank SA 4.625% 7/17/2029 (1-year EUR Mid-Swap + 1.723% on 7/17/2028) <sup>(f)</sup>  | 165 | 203 |
| Piraeus Bank SA 6.75% 12/5/2029 (1-year EUR Mid-Swap + 3.837% on 12/5/2028) <sup>(f)</sup>  | 1345 | 1760 |
| PNC Financial Services Group, Inc. 5.582% 6/12/2029 (USD-SOFR + 1.841% on 6/12/2028) <sup>(f)</sup>  | USD4,594 | 4759 |
| PNC Financial Services Group, Inc. 6.875% 10/20/2034 (USD-SOFR + 2.284% on 10/20/2033) <sup>(f)</sup>  | 12265 | 13716 |
| PNC Financial Services Group, Inc. 5.676% 1/22/2035 (USD-SOFR + 1.902% on 1/22/2034) <sup>(f)</sup>  | 635 | 660 |
| Royal Bank of Canada 4.90% 1/12/2028  | 360 | 367 |
| Royal Bank of Canada 4.95% 2/1/2029  | 1360 | 1392 |
| Santander Holdings USA, Inc. 6.499% 3/9/2029 (USD-SOFR + 2.356% on 3/9/2028) <sup>(f)</sup>  | 5100 | 5319 |
| Santander Holdings USA, Inc. 5.353% 9/6/2030 (USD-SOFR + 1.94% on 9/6/2029) <sup>(f)</sup>  | 3706 | 3773 |
| Standard Chartered PLC 5.905% 5/14/2035 <br>(1-year UST Yield Curve Rate T Note Constant Maturity + 1.45% on 5/14/2034) <sup>(e)(f)</sup>  | 546 | 568 |
| State Street Corp. 4.164% 8/4/2033 (USD-SOFR + 1.726% on 8/4/2032) <sup>(f)</sup>  | 1640 | 1577 |
| State Street Corp. 5.159% 5/18/2034 (USD-SOFR + 1.89% on 5/18/2033) <sup>(f)</sup>  | 2579 | 2635 |
| Sumitomo Mitsui Financial Group, Inc. 5.88% 7/13/2026  | 1429 | 1451 |
| Sumitomo Mitsui Financial Group, Inc. 2.174% 1/14/2027  | 1100 | 1067 |
| Sumitomo Mitsui Financial Group, Inc. 5.80% 7/13/2028  | 1045 | 1089 |
| Sumitomo Mitsui Financial Group, Inc. 5.766% 1/13/2033  | 373 | 393 |
| Sumitomo Mitsui Trust Bank, Ltd. 5.55% 9/14/2028 <sup>(e)</sup>  | 1400 | 1453 |
| Swedbank AB 6.136% 9/12/2026 <sup>(e)</sup>  | 2100 | 2146 |
| Truist Financial Corp. 6.047% 6/8/2027 (USD-SOFR + 2.05% on 6/8/2026) <sup>(f)</sup>  | 1370 | 1389 |
| Truist Financial Corp. 4.873% 1/26/2029 (USD-SOFR + 1.435% on 1/26/2028) <sup>(f)</sup>  | 2605 | 2636 |
| Truist Financial Corp. 7.161% 10/30/2029 (USD-SOFR + 2.446% on 10/30/2028) <sup>(f)</sup>  | 2396 | 2592 |
| Truist Financial Corp. 5.435% 1/24/2030 (USD-SOFR + 1.62% on 1/24/2029) <sup>(f)</sup>  | 1741 | 1794 |
| Truist Financial Corp. 5.153% 8/5/2032 (USD-SOFR + 1.571% on 8/5/2031) <sup>(f)</sup>  | 4707 | 4800 |
| Truist Financial Corp. 5.867% 6/8/2034 (USD-SOFR + 2.361% on 6/8/2033) <sup>(f)</sup>  | 1586 | 1657 |
| Truist Financial Corp. 5.711% 1/24/2035 (USD-SOFR + 1.922% on 1/24/2034) <sup>(f)</sup>  | 2440 | 2530 |
| U.S. Bancorp 4.653% 2/1/2029 (USD-SOFR + 1.23% on 2/1/2028) <sup>(f)</sup>  | 2115 | 2129 |
| U.S. Bancorp 5.384% 1/23/2030 (USD-SOFR + 1.56% on 1/23/2029) <sup>(f)</sup>  | 7300 | 7518 |
| U.S. Bancorp 4.839% 2/1/2034 (USD-SOFR + 1.60% on 2/1/2033) <sup>(f)</sup>  | 2839 | 2804 |
| U.S. Bancorp 5.836% 6/12/2034 (USD-SOFR + 2.26% on 6/10/2033) <sup>(f)</sup>  | 1712 | 1799 |
| UBS AG 7.50% 2/15/2028  | 2445 | 2638 |
| UBS Group AG 1.305% 2/2/2027 (USD-SOFR + 0.98% on 2/2/2026) <sup>(e)(f)</sup>  | 11200 | 10990 |
| UBS Group AG 1.494% 8/10/2027 (1-year UST Yield Curve Rate T Note Constant Maturity + 0.85% on <br>8/10/2026) <sup>(e)(f)</sup>  | 6623 | 6407 |
| UBS Group AG 5.428% 2/8/2030 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.52% on <br>2/8/2029) <sup>(e)(f)</sup>  | 17490 | 17966 |
| UBS Group AG 5.617% 9/13/2030 (1-year USD-ICE SOFR Swap + 1.34% on 9/13/2029) <sup>(e)(f)</sup>  | 14459 | 15017 |
| UBS Group AG 4.194% 4/1/2031 (USD-SOFR + 3.73% on 4/1/2030) <sup>(e)(f)</sup>  | 9636 | 9438 |
| UBS Group AG 2.095% 2/11/2032 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.00% on <br>2/11/2031) <sup>(e)(f)</sup>  | 1392 | 1204 |
| UBS Group AG 3.091% 5/14/2032 (USD-SOFR + 1.73% on 5/14/2031) <sup>(e)(f)</sup>  | 20425 | 18546 |
| UBS Group AG 2.746% 2/11/2033 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.10% on <br>2/11/2032) <sup>(e)(f)</sup>  | 4038 | 3524 |
| UBS Group AG 9.016% 11/15/2033 (USD-SOFR + 5.02% on 11/15/2032) <sup>(e)(f)</sup>  | 5000 | 6184 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **168** |

---

------

The Bond Fund of America<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Financials (continued)** |  |  |
| UniCredit SpA 4.625% 4/12/2027 <sup>(e)</sup>  | USD1,395 | $1395 |
| Vigorous Champion International, Ltd. 4.25% 5/28/2029  | 462 | 455 |
| Wells Fargo & Co. 3.526% 3/24/2028 (USD-SOFR + 1.51% on 3/24/2027) <sup>(f)</sup>  | 6615 | 6524 |
| Wells Fargo & Co. 5.707% 4/22/2028 (USD-SOFR + 1.07% on 4/22/2027) <sup>(f)</sup>  | 11151 | 11397 |
| Wells Fargo & Co. 2.393% 6/2/2028 (USD-SOFR + 2.10% on 6/2/2027) <sup>(f)</sup>  | 1003 | 967 |
| Wells Fargo & Co. 4.808% 7/25/2028 (USD-SOFR + 1.98% on 7/25/2027) <sup>(f)</sup>  | 8357 | 8429 |
| Wells Fargo & Co. 4.97% 4/23/2029 (USD-SOFR + 1.37% on 4/23/2028) <sup>(f)</sup>  | 4895 | 4964 |
| Wells Fargo & Co. 5.574% 7/25/2029 (USD-SOFR + 1.74% on 7/25/2028) <sup>(f)</sup>  | 2545 | 2628 |
| Wells Fargo & Co. 5.15% 4/23/2031 (USD-SOFR + 1.50% on 4/23/2030) <sup>(f)</sup>  | 4260 | 4364 |
| Wells Fargo & Co. 5.389% 4/24/2034 (USD-SOFR + 2.02% on 4/24/2033) <sup>(f)</sup>  | 6025 | 6167 |
| Wells Fargo & Co. 6.491% 10/23/2034 (USD-SOFR + 2.06% on 10/23/2033) <sup>(f)</sup>  | 4062 | 4442 |
| Wells Fargo & Co. 5.211% 12/3/2035 (USD-SOFR + 1.38% on 12/3/2034) <sup>(f)</sup>  | 198 | 199 |
| Wells Fargo & Co. 5.605% 4/23/2036 (USD-SOFR + 1.74% on 4/23/2035) <sup>(f)</sup>  | 13513 | 13954 |
| Wells Fargo & Co. 4.611% 4/25/2053 (USD-SOFR + 2.13% on 4/25/2052) <sup>(f)</sup>  | 5719 | 4877 |
|  |  | 1215226 |
| **Utilities 4.25%** |  |  |
| AEP Texas, Inc. 3.45% 5/15/2051  | 1380 | 930 |
| AEP Transmission Co., LLC 5.375% 6/15/2035  | 1075 | 1099 |
| Alabama Power Co. 3.00% 3/15/2052  | 3219 | 2085 |
| Alfa Transmisora De Energia SA 4.55% 9/27/2051 <sup>(e)</sup>  | 411 | 303 |
| Baltimore Gas and Electric Co. 4.55% 6/1/2052  | 525 | 441 |
| Berkshire Hathaway Energy Co. 4.50% 2/1/2045  | 5895 | 5074 |
| Berkshire Hathaway Energy Co. 4.60% 5/1/2053  | 1017 | 851 |
| Cleveland Electric Illuminating Co. (The) 3.50% 4/1/2028 <sup>(e)</sup>  | 2400 | 2336 |
| Comision Federal de Electricidad 4.688% 5/15/2029 <sup>(e)</sup>  | 3655 | 3573 |
| Connecticut Light and Power Co. (The) 2.05% 7/1/2031  | 1775 | 1550 |
| DTE Energy Co. 5.10% 3/1/2029  | 7900 | 8059 |
| DTE Energy Co. 3.00% 3/1/2032  | 259 | 236 |
| Duke Energy Carolinas, LLC 5.35% 1/15/2053  | 332 | 319 |
| Duke Energy Florida, LLC 5.875% 11/15/2033  | 370 | 395 |
| Duke Energy Florida, LLC 3.40% 10/1/2046  | 5669 | 4080 |
| Duke Energy Florida, LLC 3.00% 12/15/2051  | 293 | 185 |
| Duke Energy Florida, LLC 5.95% 11/15/2052  | 575 | 591 |
| Duke Energy Progress, LLC 3.70% 9/1/2028  | 3750 | 3709 |
| Duke Energy Progress, LLC 2.00% 8/15/2031  | 1775 | 1542 |
| Duke Energy Progress, LLC 2.50% 8/15/2050  | 644 | 373 |
| Edison International 4.125% 3/15/2028  | 6768 | 6535 |
| Edison International 6.95% 11/15/2029  | 1575 | 1638 |
| Electricite de France SA 5.65% 4/22/2029 <sup>(e)</sup>  | 1420 | 1474 |
| Electricite de France SA 2.625% junior subordinated perpetual bonds (5-year EUR Mid-Swap + 2.86% on <br> 6/1/2028) <sup>(f)</sup>  | EUR2,800 | 3214 |
| Electricite de France SA 9.125% junior subordinated perpetual bonds (5-year UST Yield Curve Rate T <br> Note Constant Maturity + 5.411% on 6/15/2033) <sup>(e)(f)</sup>  | USD1,575 | 1780 |
| Emera US Finance, LP 2.639% 6/15/2031  | 4400 | 3866 |
| ENN Clean Energy International Investment, Ltd. 3.375% 5/12/2026 <sup>(e)</sup>  | 1310 | 1292 |
| Entergy Louisiana, LLC 4.20% 9/1/2048  | 5637 | 4496 |
| Eversource Energy 5.00% 1/1/2027  | 3415 | 3447 |
| FirstEnergy Corp. 1.60% 1/15/2026  | 20066 | 19701 |
| FirstEnergy Corp. 2.65% 3/1/2030  | 16560 | 15212 |
| FirstEnergy Corp. 2.25% 9/1/2030  | 12602 | 11197 |
| Florida Power & Light Co. 4.40% 5/15/2028  | 1655 | 1668 |
| Florida Power & Light Co. 5.10% 4/1/2033  | 7431 | 7600 |
| Florida Power & Light Co. 4.80% 5/15/2033  | 2929 | 2938 |
| Florida Power & Light Co. 5.30% 4/1/2053  | 1255 | 1201 |
| Georgia Power Co. 4.95% 5/17/2033  | 1845 | 1860 |
| Georgia Power Co. 5.25% 3/15/2034  | 3200 | 3265 |
| Georgia Power Co. 3.70% 1/30/2050  | 190 | 142 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **169** | American Funds Insurance Series |

---

------

The Bond Fund of America<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Utilities (continued)** |  |  |
| Jersey Central Power & Light Co. 2.75% 3/1/2032 <sup>(e)</sup>  | USD525 | $461 |
| Monongahela Power Co. 3.55% 5/15/2027 <sup>(e)</sup>  | 1700 | 1676 |
| NiSource, Inc. 5.40% 6/30/2033  | 650 | 665 |
| Pacific Gas and Electric Co. 3.15% 1/1/2026  | 27543 | 27283 |
| Pacific Gas and Electric Co. 2.95% 3/1/2026  | 10850 | 10709 |
| Pacific Gas and Electric Co. 2.10% 8/1/2027  | 2026 | 1919 |
| Pacific Gas and Electric Co. 3.30% 12/1/2027  | 7105 | 6876 |
| Pacific Gas and Electric Co. 3.00% 6/15/2028  | 2542 | 2415 |
| Pacific Gas and Electric Co. 3.75% 7/1/2028  | 13760 | 13356 |
| Pacific Gas and Electric Co. 4.65% 8/1/2028  | 7900 | 7858 |
| Pacific Gas and Electric Co. 4.55% 7/1/2030  | 35449 | 34617 |
| Pacific Gas and Electric Co. 2.50% 2/1/2031  | 21597 | 18759 |
| Pacific Gas and Electric Co. 6.40% 6/15/2033  | 12824 | 13412 |
| Pacific Gas and Electric Co. 6.95% 3/15/2034  | 1294 | 1394 |
| Pacific Gas and Electric Co. 5.80% 5/15/2034  | 5376 | 5378 |
| Pacific Gas and Electric Co. 5.70% 3/1/2035  | 14434 | 14312 |
| Pacific Gas and Electric Co. 3.30% 8/1/2040  | 10340 | 7405 |
| Pacific Gas and Electric Co. 4.95% 7/1/2050  | 5524 | 4458 |
| Pacific Gas and Electric Co. 3.50% 8/1/2050  | 15807 | 10149 |
| Pacific Gas and Electric Co. 5.90% 10/1/2054  | 2410 | 2188 |
| PacifiCorp 5.30% 2/15/2031  | 603 | 621 |
| PacifiCorp 5.45% 2/15/2034  | 8920 | 9051 |
| PacifiCorp 3.30% 3/15/2051  | 325 | 212 |
| PacifiCorp 2.90% 6/15/2052  | 586 | 347 |
| PacifiCorp 5.35% 12/1/2053  | 3678 | 3310 |
| PacifiCorp 5.50% 5/15/2054  | 8738 | 8046 |
| PacifiCorp 5.80% 1/15/2055  | 7735 | 7411 |
| PECO Energy Co. 5.25% 9/15/2054  | 1775 | 1685 |
| Public Service Electric and Gas Co. 3.20% 5/15/2029  | 6000 | 5798 |
| Public Service Electric and Gas Co. 5.20% 8/1/2033  | 1200 | 1237 |
| Public Service Electric and Gas Co. 5.50% 3/1/2055  | 1503 | 1484 |
| Southern California Edison Co. 4.90% 6/1/2026  | 1177 | 1178 |
| Southern California Edison Co. 5.30% 3/1/2028  | 3826 | 3876 |
| Southern California Edison Co. 4.20% 3/1/2029  | 8211 | 8042 |
| Southern California Edison Co. 2.85% 8/1/2029  | 7858 | 7275 |
| Southern California Edison Co. 5.25% 3/15/2030  | 19378 | 19586 |
| Southern California Edison Co. 2.50% 6/1/2031  | 5044 | 4383 |
| Southern California Edison Co. 5.45% 6/1/2031  | 9875 | 10055 |
| Southern California Edison Co. 5.20% 6/1/2034  | 5196 | 5043 |
| Southern California Edison Co. 5.45% 3/1/2035  | 1845 | 1812 |
| Southern California Edison Co. 5.75% 4/1/2035  | 4549 | 4644 |
| Southern California Edison Co. 5.35% 7/15/2035  | 6450 | 6288 |
| Southern California Edison Co. 5.625% 2/1/2036  | 7051 | 6866 |
| Southern California Edison Co. 3.60% 2/1/2045  | 2417 | 1666 |
| Southern California Edison Co. 2.95% 2/1/2051  | 706 | 414 |
| Southern California Edison Co. 3.65% 6/1/2051  | 29 | 19 |
| Southern California Edison Co. 5.90% 3/1/2055  | 1661 | 1521 |
| Southwestern Electric Power Co. 1.65% 3/15/2026  | 3550 | 3481 |
| Southwestern Electric Power Co. 3.25% 11/1/2051  | 2075 | 1343 |
| Virginia Electric & Power 2.40% 3/30/2032  | 2575 | 2234 |
| Wisconsin Power and Light Co. 1.95% 9/16/2031  | 525 | 451 |
| Wisconsin Power and Light Co. 3.65% 4/1/2050  | 1075 | 772 |
| Wisconsin Public Service Corp. 2.85% 12/1/2051  | 375 | 230 |
| Xcel Energy, Inc. 4.75% 3/21/2028  | 7808 | 7886 |
| Xcel Energy, Inc. 2.60% 12/1/2029  | 4049 | 3747 |
| Xcel Energy, Inc. 5.45% 8/15/2033  | 4355 | 4445 |
| Xcel Energy, Inc. 5.50% 3/15/2034  | 4230 | 4300 |
|  |  | 466306 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **170** |

---

------

The Bond Fund of America<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Health care 4.14%** |  |  |
| AbbVie, Inc. 5.05% 3/15/2034  | USD18,501 | $18844 |
| AbbVie, Inc. 5.35% 3/15/2044  | 800 | 785 |
| AbbVie, Inc. 5.40% 3/15/2054  | 15770 | 15345 |
| AbbVie, Inc. 5.50% 3/15/2064  | 550 | 534 |
| Amgen, Inc. 5.507% 3/2/2026  | 725 | 725 |
| Amgen, Inc. 5.15% 3/2/2028  | 5326 | 5444 |
| Amgen, Inc. 4.05% 8/18/2029  | 7429 | 7345 |
| Amgen, Inc. 2.45% 2/21/2030  | 5131 | 4700 |
| Amgen, Inc. 5.25% 3/2/2030  | 2854 | 2942 |
| Amgen, Inc. 4.20% 3/1/2033  | 8502 | 8164 |
| Amgen, Inc. 5.25% 3/2/2033  | 20793 | 21300 |
| Amgen, Inc. 4.875% 3/1/2053  | 3360 | 2937 |
| Amgen, Inc. 4.40% 2/22/2062  | 196 | 153 |
| AstraZeneca Finance, LLC 5.00% 2/26/2034  | 6925 | 7062 |
| Baxter International, Inc. 2.539% 2/1/2032  | 3906 | 3406 |
| Bristol-Myers Squibb Co. 4.90% 2/22/2029  | 2625 | 2688 |
| Bristol-Myers Squibb Co. 5.10% 2/22/2031  | 3990 | 4134 |
| Bristol-Myers Squibb Co. 5.20% 2/22/2034  | 22685 | 23242 |
| Bristol-Myers Squibb Co. 5.50% 2/22/2044  | 425 | 422 |
| Bristol-Myers Squibb Co. 2.55% 11/13/2050  | 2113 | 1234 |
| Bristol-Myers Squibb Co. 3.70% 3/15/2052  | 2197 | 1602 |
| Bristol-Myers Squibb Co. 6.25% 11/15/2053  | 1740 | 1866 |
| Bristol-Myers Squibb Co. 5.55% 2/22/2054  | 12840 | 12535 |
| Centene Corp. 4.25% 12/15/2027  | 14860 | 14644 |
| Centene Corp. 2.45% 7/15/2028  | 12410 | 11533 |
| Centene Corp. 4.625% 12/15/2029  | 14945 | 14546 |
| Centene Corp. 3.375% 2/15/2030  | 15718 | 14488 |
| Cigna Group (The) 5.125% 5/15/2031  | 2095 | 2156 |
| Cigna Group (The) 5.25% 2/15/2034  | 3745 | 3806 |
| CVS Health Corp. 5.125% 2/21/2030  | 1720 | 1752 |
| CVS Health Corp. 5.25% 1/30/2031  | 960 | 982 |
| CVS Health Corp. 5.55% 6/1/2031  | 3707 | 3852 |
| CVS Health Corp. 5.25% 2/21/2033  | 2122 | 2137 |
| CVS Health Corp. 5.70% 6/1/2034  | 7706 | 7938 |
| CVS Health Corp. 5.625% 2/21/2053  | 40 | 37 |
| CVS Health Corp. 5.875% 6/1/2053  | 4897 | 4682 |
| CVS Health Corp. 6.05% 6/1/2054  | 1995 | 1957 |
| CVS Health Corp. 6.00% 6/1/2063  | 1344 | 1286 |
| Elevance Health, Inc. 4.95% 11/1/2031  | 2322 | 2356 |
| Elevance Health, Inc. 5.20% 2/15/2035  | 7577 | 7660 |
| Elevance Health, Inc. 4.55% 5/15/2052  | 271 | 222 |
| Elevance Health, Inc. 5.125% 2/15/2053  | 784 | 701 |
| Elevance Health, Inc. 5.70% 2/15/2055  | 995 | 965 |
| Eli Lilly and Co. 5.10% 2/12/2035  | 23057 | 23641 |
| Eli Lilly and Co. 5.50% 2/12/2055  | 7907 | 7962 |
| Gilead Sciences, Inc. 5.25% 10/15/2033  | 3340 | 3457 |
| HCA, Inc. 5.20% 6/1/2028  | 4165 | 4256 |
| HCA, Inc. 2.375% 7/15/2031  | 2233 | 1944 |
| HCA, Inc. 3.625% 3/15/2032  | 2400 | 2215 |
| HCA, Inc. 4.625% 3/15/2052  | 226 | 182 |
| Humana, Inc. 5.375% 4/15/2031  | 5530 | 5659 |
| Humana, Inc. 5.55% 5/1/2035  | 1735 | 1745 |
| Humana, Inc. 5.75% 4/15/2054  | 954 | 889 |
| Johnson & Johnson 4.80% 6/1/2029  | 3970 | 4080 |
| Johnson & Johnson 4.90% 6/1/2031  | 4175 | 4319 |
| Merck & Co., Inc. 1.70% 6/10/2027  | 3093 | 2966 |
| Pfizer Investment Enterprises Pte., Ltd. 4.45% 5/19/2028  | 1375 | 1386 |
| Pfizer Investment Enterprises Pte., Ltd. 4.75% 5/19/2033  | 7942 | 7921 |
| Pfizer Investment Enterprises Pte., Ltd. 5.30% 5/19/2053  | 5622 | 5311 |
| Roche Holdings, Inc. 1.93% 12/13/2028 <sup>(e)</sup>  | 7545 | 7031 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **171** | American Funds Insurance Series |

---

------

The Bond Fund of America<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Health care (continued)** |  |  |
| Roche Holdings, Inc. 4.592% 9/9/2034 <sup>(e)</sup>  | USD765 | $757 |
| Roche Holdings, Inc. 2.607% 12/13/2051 <sup>(e)</sup>  | 645 | 395 |
| Shire Acquisitions Investments Ireland DAC 3.20% 9/23/2026  | 306 | 302 |
| Stryker Corp. 4.85% 2/10/2030  | 1235 | 1260 |
| Stryker Corp. 5.20% 2/10/2035  | 1110 | 1132 |
| Takeda U.S. Financing, Inc. 5.20% 7/7/2035  | 12074 | 12080 |
| Teva Pharmaceutical Finance Netherlands III BV 6.75% 3/1/2028  | 26824 | 27874 |
| Teva Pharmaceutical Finance Netherlands III BV 5.125% 5/9/2029  | 4431 | 4460 |
| Teva Pharmaceutical Finance Netherlands III BV 7.875% 9/15/2029  | 3720 | 4063 |
| Teva Pharmaceutical Finance Netherlands III BV 8.125% 9/15/2031  | 2935 | 3327 |
| Teva Pharmaceutical Finance Netherlands III BV 6.00% 12/1/2032  | 725 | 741 |
| Teva Pharmaceutical Finance Netherlands III BV 4.10% 10/1/2046  | 37896 | 27295 |
| UnitedHealth Group, Inc. 3.75% 7/15/2025  | 5410 | 5408 |
| UnitedHealth Group, Inc. 4.80% 1/15/2030  | 395 | 401 |
| UnitedHealth Group, Inc. 2.00% 5/15/2030  | 466 | 417 |
| UnitedHealth Group, Inc. 4.95% 1/15/2032  | 1910 | 1935 |
| UnitedHealth Group, Inc. 4.20% 5/15/2032  | 1654 | 1602 |
| UnitedHealth Group, Inc. 5.15% 7/15/2034  | 15956 | 16125 |
| UnitedHealth Group, Inc. 3.05% 5/15/2041  | 1300 | 956 |
| UnitedHealth Group, Inc. 4.25% 6/15/2048  | 960 | 772 |
| UnitedHealth Group, Inc. 3.25% 5/15/2051  | 572 | 380 |
| UnitedHealth Group, Inc. 5.625% 7/15/2054  | 10472 | 10165 |
| UnitedHealth Group, Inc. 4.95% 5/15/2062  | 69 | 59 |
| Viatris, Inc. 4.00% 6/22/2050  | 3750 | 2500 |
|  |  | 454479 |
| **Consumer discretionary 3.71%** |  |  |
| Allied Universal Holdco, LLC 4.625% 6/1/2028 <sup>(e)</sup>  | 335 | 325 |
| Amazon.com, Inc. 1.65% 5/12/2028  | 3860 | 3626 |
| Amazon.com, Inc. 3.45% 4/13/2029  | 600 | 589 |
| Amazon.com, Inc. 3.25% 5/12/2061  | 4100 | 2670 |
| Amazon.com, Inc. 4.10% 4/13/2062  | 470 | 369 |
| Atlas LuxCo 4 SARL 4.625% 6/1/2028 <sup>(e)</sup>  | 255 | 247 |
| Bath & Body Works, Inc. 6.875% 11/1/2035  | 14740 | 15308 |
| BMW US Capital, LLC 3.45% 4/1/2027 <sup>(e)</sup>  | 1075 | 1059 |
| BMW US Capital, LLC 3.70% 4/1/2032 <sup>(e)</sup>  | 1350 | 1259 |
| Carnival Corp. 6.125% 2/15/2033 <sup>(e)</sup>  | 4115 | 4213 |
| Daimler Trucks Finance North America, LLC 5.00% 1/15/2027 <sup>(e)</sup>  | 794 | 802 |
| Daimler Trucks Finance North America, LLC 3.65% 4/7/2027 <sup>(e)</sup>  | 3567 | 3523 |
| Daimler Trucks Finance North America, LLC 5.125% 9/25/2027 <sup>(e)</sup>  | 1320 | 1339 |
| Daimler Trucks Finance North America, LLC 5.40% 9/20/2028 <sup>(e)</sup>  | 832 | 855 |
| Daimler Trucks Finance North America, LLC 2.375% 12/14/2028 <sup>(e)</sup>  | 3230 | 3015 |
| Daimler Trucks Finance North America, LLC 5.25% 1/13/2030 <sup>(e)</sup>  | 565 | 578 |
| Daimler Trucks Finance North America, LLC 2.50% 12/14/2031 <sup>(e)</sup>  | 8174 | 7096 |
| Daimler Trucks Finance North America, LLC 5.375% 1/13/2032 <sup>(e)</sup>  | 430 | 437 |
| Daimler Trucks Finance North America, LLC 5.50% 9/20/2033 <sup>(e)</sup>  | 691 | 701 |
| Daimler Trucks Finance North America, LLC 5.375% 1/18/2034 <sup>(e)</sup>  | 246 | 247 |
| Daimler Trucks Finance North America, LLC 5.625% 1/13/2035 <sup>(e)</sup>  | 3395 | 3457 |
| Ford Motor Co. 3.25% 2/12/2032  | 620 | 523 |
| Ford Motor Credit Co., LLC 6.95% 3/6/2026  | 855 | 863 |
| Ford Motor Credit Co., LLC 6.95% 6/10/2026  | 755 | 765 |
| Ford Motor Credit Co., LLC 2.70% 8/10/2026  | 200 | 195 |
| Ford Motor Credit Co., LLC 5.125% 11/5/2026  | 9695 | 9675 |
| Ford Motor Credit Co., LLC 4.271% 1/9/2027  | 18742 | 18479 |
| Ford Motor Credit Co., LLC 5.80% 3/5/2027  | 3145 | 3171 |
| Ford Motor Credit Co., LLC 5.85% 5/17/2027  | 6490 | 6542 |
| Ford Motor Credit Co., LLC 4.95% 5/28/2027  | 485 | 482 |
| Ford Motor Credit Co., LLC 4.125% 8/17/2027  | 39480 | 38603 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **172** |

---

------

The Bond Fund of America<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Consumer discretionary (continued)** |  |  |
| Ford Motor Credit Co., LLC 3.815% 11/2/2027  | USD3,990 | $3853 |
| Ford Motor Credit Co., LLC 7.35% 11/4/2027  | 7549 | 7842 |
| Ford Motor Credit Co., LLC 5.918% 3/20/2028  | 24035 | 24284 |
| Ford Motor Credit Co., LLC 6.80% 5/12/2028  | 2030 | 2099 |
| Ford Motor Credit Co., LLC 6.798% 11/7/2028  | 762 | 790 |
| Ford Motor Credit Co., LLC 2.90% 2/10/2029  | 1065 | 969 |
| Ford Motor Credit Co., LLC 5.80% 3/8/2029  | 6740 | 6756 |
| Ford Motor Credit Co., LLC 5.113% 5/3/2029  | 9854 | 9639 |
| Ford Motor Credit Co., LLC 5.303% 9/6/2029  | 5407 | 5312 |
| Ford Motor Credit Co., LLC 7.35% 3/6/2030  | 10668 | 11266 |
| Ford Motor Credit Co., LLC 7.20% 6/10/2030  | 1015 | 1069 |
| Ford Motor Credit Co., LLC 6.05% 3/5/2031  | 3960 | 3953 |
| Ford Motor Credit Co., LLC 3.625% 6/17/2031  | 1215 | 1070 |
| Ford Motor Credit Co., LLC 7.122% 11/7/2033  | 688 | 714 |
| General Motors Co. 6.125% 10/1/2025  | 13888 | 13913 |
| General Motors Financial Co., Inc. 1.50% 6/10/2026  | 6712 | 6517 |
| General Motors Financial Co., Inc. 2.35% 2/26/2027  | 9771 | 9420 |
| General Motors Financial Co., Inc. 5.35% 1/7/2030  | 10000 | 10126 |
| General Motors Financial Co., Inc. 5.45% 7/15/2030  | 8013 | 8129 |
| General Motors Financial Co., Inc. 5.625% 4/4/2032  | 1201 | 1216 |
| General Motors Financial Co., Inc. 5.90% 1/7/2035  | 2888 | 2905 |
| Hanesbrands, Inc. 9.00% 2/15/2031 <sup>(e)</sup>  | 528 | 560 |
| Home Depot, Inc. 2.95% 6/15/2029  | 1966 | 1882 |
| Home Depot, Inc. 4.75% 6/25/2029  | 1849 | 1888 |
| Home Depot, Inc. 4.85% 6/25/2031  | 2559 | 2626 |
| Home Depot, Inc. 4.95% 6/25/2034  | 4749 | 4809 |
| Home Depot, Inc. 4.50% 12/6/2048  | 1915 | 1644 |
| Home Depot, Inc. 5.30% 6/25/2054  | 2234 | 2147 |
| Hyatt Hotels Corp. 5.05% 3/30/2028  | 8567 | 8662 |
| Hyundai Capital America 1.80% 10/15/2025 <sup>(e)</sup>  | 13274 | 13164 |
| Hyundai Capital America 6.25% 11/3/2025 <sup>(e)</sup>  | 825 | 828 |
| Hyundai Capital America 1.30% 1/8/2026 <sup>(e)</sup>  | 6000 | 5897 |
| Hyundai Capital America 5.50% 3/30/2026 <sup>(e)</sup>  | 705 | 709 |
| Hyundai Capital America 1.50% 6/15/2026 <sup>(e)</sup>  | 7475 | 7259 |
| Hyundai Capital America 1.65% 9/17/2026 <sup>(e)</sup>  | 7275 | 7024 |
| Hyundai Capital America 3.00% 2/10/2027 <sup>(e)</sup>  | 9000 | 8784 |
| Hyundai Capital America 5.275% 6/24/2027 <sup>(e)</sup>  | 1650 | 1672 |
| Hyundai Capital America 2.375% 10/15/2027 <sup>(e)</sup>  | 7543 | 7176 |
| Hyundai Capital America 5.60% 3/30/2028 <sup>(e)</sup>  | 1385 | 1419 |
| Hyundai Capital America 5.30% 6/24/2029 <sup>(e)</sup>  | 1523 | 1551 |
| Hyundai Capital America 5.15% 3/27/2030 <sup>(e)</sup>  | 25720 | 26038 |
| Hyundai Capital America 5.40% 6/24/2031 <sup>(e)</sup>  | 3365 | 3444 |
| Hyundai Capital Services, Inc. 1.25% 2/8/2026 <sup>(e)</sup>  | 3695 | 3622 |
| Marriott International, Inc. 5.00% 10/15/2027  | 4470 | 4545 |
| Marriott International, Inc. 4.90% 4/15/2029  | 653 | 665 |
| Marriott International, Inc. 5.35% 3/15/2035  | 1365 | 1377 |
| McDonald's Corp. 5.00% 5/17/2029  | 1305 | 1342 |
| McDonald's Corp. 4.95% 3/3/2035  | 786 | 786 |
| McDonald's Corp. 4.45% 3/1/2047  | 3535 | 2991 |
| McDonald's Corp. 3.625% 9/1/2049  | 2938 | 2133 |
| Nissan Motor Co., Ltd. 4.81% 9/17/2030 <sup>(e)</sup>  | 267 | 245 |
| Sands China, Ltd. 2.30% 3/8/2027  | 2368 | 2275 |
| Toyota Motor Credit Corp. 3.375% 4/1/2030  | 4954 | 4737 |
| Toyota Motor Credit Corp. 4.55% 5/17/2030  | 1625 | 1636 |
| Toyota Motor Credit Corp. 5.55% 11/20/2030  | 690 | 727 |
| Travel + Leisure Co. 6.625% 7/31/2026 <sup>(e)</sup>  | 675 | 683 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **173** | American Funds Insurance Series |

---

------

The Bond Fund of America<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Consumer discretionary (continued)** |  |  |
| Volkswagen Group of America Finance, LLC 4.95% 8/15/2029 <sup>(e)</sup>  | USD1,635 | $1642 |
| Volkswagen Group of America Finance, LLC 6.45% 11/16/2030 <sup>(e)</sup>  | 5190 | 5525 |
| Wynn Resorts Finance, LLC 5.125% 10/1/2029 <sup>(e)</sup>  | 410 | 407 |
|  |  | 407376 |
| **Energy 2.63%** |  |  |
| Antero Resources Corp. 5.375% 3/1/2030 <sup>(e)</sup>  | 280 | 282 |
| APA Corp. 4.25% 1/15/2030 <sup>(e)</sup>  | 2465 | 2361 |
| Apache Corp. 4.625% 11/15/2025  | 645 | 644 |
| Ascent Resources Utica Holdings, LLC 6.625% 7/15/2033 <sup>(e)</sup>  | 395 | 401 |
| Baker Hughes Holdings, LLC 2.061% 12/15/2026  | 1136 | 1101 |
| Canadian Natural Resources, Ltd. 2.05% 7/15/2025  | 754 | 753 |
| Cenovus Energy, Inc. 5.375% 7/15/2025  | 2763 | 2763 |
| Cenovus Energy, Inc. 4.25% 4/15/2027  | 13613 | 13586 |
| Cenovus Energy, Inc. 2.65% 1/15/2032  | 2969 | 2567 |
| Cenovus Energy, Inc. 5.25% 6/15/2037  | 289 | 273 |
| Cenovus Energy, Inc. 3.75% 2/15/2052  | 19 | 13 |
| Chevron Corp. 2.954% 5/16/2026  | 3365 | 3327 |
| Civitas Resources, Inc. 8.75% 7/1/2031 <sup>(e)</sup>  | 22400 | 22677 |
| Columbia Pipelines Operating Co., LLC 5.927% 8/15/2030 <sup>(e)</sup>  | 268 | 283 |
| Devon Energy Corp. 5.75% 9/15/2054  | 2068 | 1863 |
| Diamondback Energy, Inc. 5.55% 4/1/2035  | 9020 | 9122 |
| Ecopetrol SA 8.875% 1/13/2033  | 15325 | 15820 |
| Energy Transfer, LP 5.25% 7/1/2029  | 979 | 1003 |
| Energy Transfer, LP 6.40% 12/1/2030  | 479 | 516 |
| Eni SpA 5.50% 5/15/2034 <sup>(e)</sup>  | 359 | 362 |
| Eni SpA 5.95% 5/15/2054 <sup>(e)</sup>  | 222 | 215 |
| Enterprise Products Operating, LLC 4.95% 2/15/2035  | 1465 | 1461 |
| EOG Resources, Inc. 5.95% 7/15/2055  | 5080 | 5177 |
| Equinor ASA 3.625% 9/10/2028  | 4928 | 4862 |
| Equinor ASA 3.125% 4/6/2030  | 20000 | 19094 |
| Equinor ASA 3.25% 11/18/2049  | 5687 | 3979 |
| Exxon Mobil Corp. 3.043% 3/1/2026  | 4625 | 4590 |
| Exxon Mobil Corp. 3.452% 4/15/2051  | 6510 | 4620 |
| GreenSaif Pipelines Bidco SARL 5.853% 2/23/2036 <sup>(e)</sup>  | 11320 | 11460 |
| Hess Midstream Operations, LP 5.875% 3/1/2028 <sup>(e)</sup>  | 1470 | 1493 |
| Occidental Petroleum Corp. 6.625% 9/1/2030  | 5120 | 5417 |
| Occidental Petroleum Corp. 5.55% 10/1/2034  | 5200 | 5106 |
| Odebrecht Drilling Services, LLC 7.50% 6/15/2030 <sup>(e)</sup>  | 6 | 6 |
| Oleoducto Central SA 4.00% 7/14/2027 <sup>(e)</sup>  | 1715 | 1673 |
| Oleoducto Central SA 4.00% 7/14/2027  | 350 | 341 |
| Petroleos Mexicanos 6.875% 10/16/2025  | 5000 | 4998 |
| Petroleos Mexicanos 4.50% 1/23/2026  | 1158 | 1143 |
| Petroleos Mexicanos 6.875% 8/4/2026  | 2965 | 2968 |
| Petroleos Mexicanos 6.49% 1/23/2027  | 20653 | 20562 |
| Petroleos Mexicanos 6.50% 3/13/2027  | 35154 | 34932 |
| Petroleos Mexicanos 6.50% 1/23/2029  | 2404 | 2354 |
| Petroleos Mexicanos 8.75% 6/2/2029  | 14185 | 14705 |
| Petroleos Mexicanos 6.84% 1/23/2030  | 11164 | 10793 |
| Petroleos Mexicanos 5.95% 1/28/2031  | 4681 | 4236 |
| Petroleos Mexicanos 6.70% 2/16/2032  | 15755 | 14652 |
| Petroleos Mexicanos 6.50% 6/2/2041  | 645 | 480 |
| Petroleos Mexicanos 6.375% 1/23/2045  | 259 | 184 |
| Petroleos Mexicanos 6.75% 9/21/2047  | 4589 | 3327 |
| Petroleos Mexicanos 6.35% 2/12/2048  | 352 | 245 |
| Petroleos Mexicanos 7.69% 1/23/2050  | 5874 | 4624 |
| Petroleos Mexicanos 6.95% 1/28/2060  | 6406 | 4607 |
| Saudi Arabian Oil Co. 5.75% 7/17/2054 <sup>(e)</sup>  | 6770 | 6362 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **174** |

---

------

The Bond Fund of America<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Energy (continued)** |  |  |
| Shell Finance US, Inc. 2.75% 4/6/2030  | USD377 | $354 |
| South Bow USA Infrastructure Holdings, LLC 4.911% 9/1/2027 <sup>(e)</sup>  | 809 | 814 |
| TotalEnergies Capital International SA 3.455% 2/19/2029  | 885 | 866 |
| TotalEnergies Capital SA 5.275% 9/10/2054  | 6805 | 6377 |
|  |  | 288794 |
| **Industrials 1.88%** |  |  |
| ADT Security Corp. 4.125% 8/1/2029 <sup>(e)</sup>  | 510 | 493 |
| Aeropuerto Internacional de Tocumen, SA 4.00% 8/11/2041 <sup>(e)</sup>  | 730 | 550 |
| Aeropuerto Internacional de Tocumen, SA 5.125% 8/11/2061 <sup>(e)</sup>  | 565 | 398 |
| Air Lease Corp. 2.875% 1/15/2026  | 10172 | 10070 |
| Air Lease Corp. 2.20% 1/15/2027  | 4341 | 4204 |
| Air Lease Corp. 5.20% 7/15/2031  | 3650 | 3732 |
| BAE Systems PLC 5.00% 3/26/2027 <sup>(e)</sup>  | 1200 | 1214 |
| BAE Systems PLC 5.125% 3/26/2029 <sup>(e)</sup>  | 3482 | 3570 |
| BAE Systems PLC 5.25% 3/26/2031 <sup>(e)</sup>  | 2156 | 2230 |
| BAE Systems PLC 5.30% 3/26/2034 <sup>(e)</sup>  | 570 | 583 |
| Boeing Co. (The) 2.75% 2/1/2026  | 11211 | 11085 |
| Boeing Co. (The) 2.196% 2/4/2026  | 9781 | 9630 |
| Boeing Co. (The) 2.70% 2/1/2027  | 6473 | 6294 |
| Boeing Co. (The) 5.04% 5/1/2027  | 13539 | 13646 |
| Boeing Co. (The) 6.259% 5/1/2027  | 4214 | 4337 |
| Boeing Co. (The) 3.25% 2/1/2028  | 11810 | 11457 |
| Boeing Co. (The) 3.25% 3/1/2028  | 1925 | 1861 |
| Boeing Co. (The) 6.298% 5/1/2029  | 1507 | 1594 |
| Boeing Co. (The) 5.15% 5/1/2030  | 25342 | 25812 |
| Boeing Co. (The) 3.625% 2/1/2031  | 751 | 708 |
| Boeing Co. (The) 6.388% 5/1/2031  | 5632 | 6055 |
| Boeing Co. (The) 6.528% 5/1/2034  | 1381 | 1501 |
| Canadian Pacific Railway Co. 1.75% 12/2/2026  | 1066 | 1029 |
| Canadian Pacific Railway Co. 3.00% 12/2/2041  | 578 | 421 |
| Canadian Pacific Railway Co. 3.10% 12/2/2051  | 1801 | 1185 |
| CK Hutchison International (23), Ltd. 4.75% 4/21/2028 <sup>(e)</sup>  | 1260 | 1270 |
| CSX Corp. 4.10% 11/15/2032  | 1886 | 1830 |
| CSX Corp. 5.20% 11/15/2033  | 1333 | 1379 |
| CSX Corp. 4.50% 11/15/2052  | 4470 | 3773 |
| Dun & Bradstreet Corp. (The) 5.00% 12/15/2029 <sup>(e)</sup>  | 978 | 1003 |
| General Dynamics Corp. 3.75% 5/15/2028  | 479 | 477 |
| General Dynamics Corp. 3.625% 4/1/2030  | 387 | 377 |
| L3Harris Technologies, Inc. 5.40% 7/31/2033  | 1126 | 1157 |
| LG Energy Solution, Ltd. 5.25% 4/2/2028 <sup>(e)</sup>  | 13205 | 13260 |
| MISC Capital Two (Labuan), Ltd. 3.75% 4/6/2027 <sup>(e)</sup>  | 2690 | 2655 |
| Norfolk Southern Corp. 5.05% 8/1/2030  | 1734 | 1793 |
| Norfolk Southern Corp. 5.35% 8/1/2054  | 1458 | 1394 |
| Northrop Grumman Corp. 4.70% 3/15/2033  | 2909 | 2901 |
| Northrop Grumman Corp. 4.95% 3/15/2053  | 1124 | 1011 |
| Republic Services, Inc. 2.375% 3/15/2033  | 1635 | 1398 |
| Republic Services, Inc. 5.00% 4/1/2034  | 15 | 15 |
| RTX Corp. 5.75% 11/8/2026  | 550 | 560 |
| RTX Corp. 3.125% 5/4/2027  | 4551 | 4464 |
| RTX Corp. 4.125% 11/16/2028  | 4974 | 4956 |
| RTX Corp. 5.75% 1/15/2029  | 410 | 430 |
| RTX Corp. 6.00% 3/15/2031  | 550 | 591 |
| RTX Corp. 2.375% 3/15/2032  | 451 | 393 |
| RTX Corp. 6.10% 3/15/2034  | 401 | 434 |
| RTX Corp. 2.82% 9/1/2051  | 665 | 411 |
| RTX Corp. 3.03% 3/15/2052  | 1190 | 764 |
| RTX Corp. 6.40% 3/15/2054  | 1006 | 1104 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **175** | American Funds Insurance Series |

---

------

The Bond Fund of America<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Industrials (continued)** |  |  |
| Summit Digitel Infrastructure Pvt, Ltd. 2.875% 8/12/2031 <sup>(e)</sup>  | USD2,550 | $2254 |
| Triton Container International, Ltd. 3.15% 6/15/2031 <sup>(e)</sup>  | 2482 | 2156 |
| Union Pacific Corp. 2.15% 2/5/2027  | 2213 | 2150 |
| Union Pacific Corp. 2.40% 2/5/2030  | 4454 | 4109 |
| Union Pacific Corp. 2.375% 5/20/2031  | 2298 | 2067 |
| Union Pacific Corp. 2.80% 2/14/2032  | 5244 | 4733 |
| Union Pacific Corp. 5.10% 2/20/2035  | 2104 | 2141 |
| Union Pacific Corp. 2.95% 3/10/2052  | 1405 | 897 |
| Union Pacific Corp. 5.60% 12/1/2054  | 470 | 468 |
| United Rentals (North America), Inc. 5.50% 5/15/2027  | 2500 | 2502 |
| Veralto Corp. 5.50% 9/18/2026  | 350 | 354 |
| Veralto Corp. 5.35% 9/18/2028  | 2450 | 2526 |
| Veralto Corp. 5.45% 9/18/2033  | 1680 | 1734 |
| Waste Management, Inc. 1.50% 3/15/2031  | 419 | 358 |
| Waste Management, Inc. 4.80% 3/15/2032  | 4135 | 4200 |
|  |  | 206108 |
| **Communication services 1.64%** |  |  |
| AT&T, Inc. 1.70% 3/25/2026  | 17807 | 17453 |
| AT&T, Inc. 1.65% 2/1/2028  | 4700 | 4410 |
| AT&T, Inc. 4.30% 2/15/2030  | 15940 | 15893 |
| AT&T, Inc. 2.55% 12/1/2033  | 12748 | 10673 |
| AT&T, Inc. 5.40% 2/15/2034  | 442 | 455 |
| AT&T, Inc. 4.50% 5/15/2035  | 174 | 166 |
| CCO Holdings, LLC 5.125% 5/1/2027 <sup>(e)</sup>  | 4800 | 4788 |
| CCO Holdings, LLC 4.75% 2/1/2032 <sup>(e)</sup>  | 1265 | 1201 |
| CCO Holdings, LLC 4.25% 1/15/2034 <sup>(e)</sup>  | 3875 | 3452 |
| Charter Communications Operating, LLC 6.10% 6/1/2029  | 1360 | 1424 |
| Charter Communications Operating, LLC 2.80% 4/1/2031  | 6057 | 5403 |
| Charter Communications Operating, LLC 4.40% 4/1/2033  | 1092 | 1029 |
| Charter Communications Operating, LLC 5.75% 4/1/2048  | 5000 | 4550 |
| Charter Communications Operating, LLC 4.80% 3/1/2050  | 5134 | 4111 |
| Charter Communications Operating, LLC 3.70% 4/1/2051  | 2519 | 1679 |
| Charter Communications Operating, LLC 3.90% 6/1/2052  | 6148 | 4223 |
| Charter Communications Operating, LLC 5.25% 4/1/2053  | 1065 | 905 |
| Comcast Corp. 3.15% 2/15/2028  | 7200 | 7015 |
| Comcast Corp. 4.55% 1/15/2029  | 1610 | 1628 |
| Comcast Corp. 4.80% 5/15/2033  | 1841 | 1838 |
| Comcast Corp. 2.887% 11/1/2051  | 18 | 11 |
| Comcast Corp. 5.65% 6/1/2054  | 3313 | 3222 |
| Comcast Corp. 5.50% 5/15/2064  | 250 | 233 |
| Netflix, Inc. 4.90% 8/15/2034  | 645 | 658 |
| Netflix, Inc. 5.40% 8/15/2054  | 127 | 125 |
| News Corp. 5.125% 2/15/2032 <sup>(e)</sup>  | 1300 | 1273 |
| SBA Tower Trust 1.631% 11/15/2026 <sup>(e)</sup>  | 6741 | 6470 |
| Sirius XM Radio, LLC 4.00% 7/15/2028 <sup>(e)</sup>  | 675 | 649 |
| Sirius XM Radio, LLC 3.875% 9/1/2031 <sup>(e)</sup>  | 12000 | 10674 |
| T-Mobile USA, Inc. 2.625% 4/15/2026  | 4416 | 4350 |
| T-Mobile USA, Inc. 3.75% 4/15/2027  | 5000 | 4950 |
| T-Mobile USA, Inc. 4.95% 3/15/2028  | 705 | 717 |
| T-Mobile USA, Inc. 4.80% 7/15/2028  | 175 | 177 |
| T-Mobile USA, Inc. 4.85% 1/15/2029  | 2725 | 2764 |
| T-Mobile USA, Inc. 3.875% 4/15/2030  | 4500 | 4372 |
| T-Mobile USA, Inc. 2.875% 2/15/2031  | 14691 | 13378 |
| T-Mobile USA, Inc. 5.125% 5/15/2032  | 4970 | 5070 |
| T-Mobile USA, Inc. 5.05% 7/15/2033  | 832 | 838 |
| T-Mobile USA, Inc. 5.75% 1/15/2034  | 730 | 765 |
| T-Mobile USA, Inc. 3.00% 2/15/2041  | 2100 | 1538 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **176** |

---

------

The Bond Fund of America<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Communication services (continued)** |  |  |
| T-Mobile USA, Inc. 6.00% 6/15/2054  | USD920 | $937 |
| T-Mobile USA, Inc. 5.50% 1/15/2055  | 406 | 385 |
| Verizon Communications, Inc. 1.75% 1/20/2031  | 9144 | 7882 |
| Verizon Communications, Inc. 2.55% 3/21/2031  | 5047 | 4528 |
| Verizon Communications, Inc. 2.355% 3/15/2032  | 2775 | 2393 |
| Verizon Communications, Inc. 4.78% 2/15/2035  | 1552 | 1513 |
| Verizon Communications, Inc. 3.55% 3/22/2051  | 625 | 447 |
| Verizon Communications, Inc. 3.875% 3/1/2052  | 4006 | 2983 |
| Vodafone Group PLC 4.25% 9/17/2050  | 3050 | 2379 |
| WarnerMedia Holdings, Inc. 3.755% 3/15/2027  | 1126 | 1051 |
| WarnerMedia Holdings, Inc. 4.279% 3/15/2032  | 112 | 84 |
| ZipRecruiter, Inc. 5.00% 1/15/2030 <sup>(e)</sup>  | 490 | 419 |
|  |  | 179531 |
| **Consumer staples 1.54%** |  |  |
| Altria Group, Inc. 4.40% 2/14/2026  | 4585 | 4582 |
| Altria Group, Inc. 4.875% 2/4/2028  | 1330 | 1349 |
| Anheuser-Busch InBev Worldwide, Inc. 5.55% 1/23/2049  | 4715 | 4683 |
| BAT Capital Corp. 3.557% 8/15/2027  | 9271 | 9125 |
| BAT Capital Corp. 2.259% 3/25/2028  | 2353 | 2227 |
| BAT Capital Corp. 6.343% 8/2/2030  | 2210 | 2383 |
| BAT Capital Corp. 4.742% 3/16/2032  | 2675 | 2661 |
| BAT Capital Corp. 5.35% 8/15/2032  | 18664 | 19102 |
| BAT Capital Corp. 6.421% 8/2/2033  | 4665 | 5069 |
| BAT Capital Corp. 5.625% 8/15/2035  | 12170 | 12389 |
| BAT Capital Corp. 7.079% 8/2/2043  | 1323 | 1458 |
| BAT Capital Corp. 5.65% 3/16/2052  | 120 | 112 |
| BAT International Finance PLC 1.668% 3/25/2026  | 4070 | 3986 |
| BAT International Finance PLC 4.448% 3/16/2028  | 2925 | 2930 |
| Campbell's Co. (The) 5.20% 3/21/2029  | 726 | 744 |
| Constellation Brands, Inc. 3.50% 5/9/2027  | 7500 | 7384 |
| Constellation Brands, Inc. 4.35% 5/9/2027  | 890 | 891 |
| Constellation Brands, Inc. 4.80% 5/1/2030  | 1618 | 1632 |
| Constellation Brands, Inc. 2.25% 8/1/2031  | 1487 | 1289 |
| Constellation Brands, Inc. 4.75% 5/9/2032  | 1978 | 1966 |
| Constellation Brands, Inc. 4.90% 5/1/2033  | 2807 | 2783 |
| H.J. Heinz Co. 4.875% 10/1/2049  | 2725 | 2342 |
| Imperial Brands Finance PLC 4.50% 6/30/2028 <sup>(e)</sup>  | 12545 | 12546 |
| Indofood CBP Sukses Makmur Tbk PT 3.398% 6/9/2031  | 3110 | 2853 |
| Indofood CBP Sukses Makmur Tbk PT 4.745% 6/9/2051  | 685 | 554 |
| Mars, Inc. 4.80% 3/1/2030 <sup>(e)</sup>  | 4670 | 4733 |
| Mars, Inc. 5.00% 3/1/2032 <sup>(e)</sup>  | 3640 | 3690 |
| Mars, Inc. 5.20% 3/1/2035 <sup>(e)</sup>  | 15670 | 15866 |
| Mars, Inc. 5.65% 5/1/2045 <sup>(e)</sup>  | 2371 | 2378 |
| Mars, Inc. 5.70% 5/1/2055 <sup>(e)</sup>  | 13235 | 13212 |
| Mondelez International, Inc. 4.75% 8/28/2034  | 5520 | 5459 |
| Philip Morris International, Inc. 4.875% 2/13/2026  | 2508 | 2514 |
| Philip Morris International, Inc. 5.25% 9/7/2028  | 2800 | 2881 |
| Philip Morris International, Inc. 5.125% 2/15/2030  | 982 | 1011 |
| Philip Morris International, Inc. 5.50% 9/7/2030  | 4565 | 4774 |
| Philip Morris International, Inc. 4.75% 11/1/2031  | 830 | 837 |
| Philip Morris International, Inc. 5.375% 2/15/2033  | 1644 | 1699 |
| Walmart, Inc. 4.10% 4/15/2033  | 1206 | 1178 |
| Walmart, Inc. 4.50% 4/15/2053  | 1416 | 1241 |
|  |  | 168513 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **177** | American Funds Insurance Series |

---

------

The Bond Fund of America<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Real estate 0.82%** |  |  |
| American Tower Corp. 3.65% 3/15/2027  | USD1,375 | $1359 |
| Boston Properties, LP 2.90% 3/15/2030  | 4630 | 4256 |
| Boston Properties, LP 3.25% 1/30/2031  | 463 | 425 |
| Boston Properties, LP 2.55% 4/1/2032  | 1674 | 1413 |
| Boston Properties, LP 2.45% 10/1/2033  | 1335 | 1067 |
| Boston Properties, LP 6.50% 1/15/2034  | 10849 | 11621 |
| Boston Properties, LP 5.75% 1/15/2035  | 11874 | 11957 |
| COPT Defense Properties, LP 2.00% 1/15/2029  | 1139 | 1038 |
| COPT Defense Properties, LP 2.75% 4/15/2031  | 1547 | 1369 |
| COPT Defense Properties, LP 2.90% 12/1/2033  | 564 | 464 |
| Corp. Inmobiliaria Vesta, SAB de CV, 3.625% 5/13/2031 <sup>(e)</sup>  | 395 | 350 |
| Crown Castle, Inc. 5.00% 1/11/2028  | 4874 | 4924 |
| Equinix, Inc. 2.90% 11/18/2026  | 2762 | 2708 |
| Equinix, Inc. 3.20% 11/18/2029  | 887 | 842 |
| Equinix, Inc. 3.90% 4/15/2032  | 1155 | 1094 |
| FibraSOMA 4.375% 7/22/2031 <sup>(e)</sup>  | 1475 | 1152 |
| Howard Hughes Corp. (The) 5.375% 8/1/2028 <sup>(e)</sup>  | 1755 | 1743 |
| Howard Hughes Corp. (The) 4.125% 2/1/2029 <sup>(e)</sup>  | 2755 | 2626 |
| Howard Hughes Corp. (The) 4.375% 2/1/2031 <sup>(e)</sup>  | 3135 | 2895 |
| Iron Mountain, Inc. 5.25% 3/15/2028 <sup>(e)</sup>  | 3020 | 3009 |
| Iron Mountain, Inc. 5.25% 7/15/2030 <sup>(e)</sup>  | 675 | 666 |
| Iron Mountain, Inc. 6.25% 1/15/2033 <sup>(e)</sup>  | 4395 | 4522 |
| Ladder Capital Finance Holdings LLLP 5.50% 8/1/2030  | 2097 | 2112 |
| Ladder Capital Finance Holdings LLLP 7.00% 7/15/2031 <sup>(e)</sup>  | 4683 | 4900 |
| Prologis, LP 4.875% 6/15/2028  | 1040 | 1061 |
| Prologis, LP 4.75% 6/15/2033  | 1409 | 1406 |
| Prologis, LP 5.125% 1/15/2034  | 6175 | 6254 |
| Prologis, LP 5.00% 3/15/2034  | 360 | 361 |
| Prologis, LP 5.25% 6/15/2053  | 117 | 110 |
| Service Properties Trust 3.95% 1/15/2028  | 1710 | 1581 |
| Service Properties Trust 8.625% 11/15/2031 <sup>(e)</sup>  | 3040 | 3266 |
| VICI Properties, LP 4.75% 2/15/2028  | 6844 | 6884 |
|  |  | 89435 |
| **Information technology 0.77%** |  |  |
| Analog Devices, Inc. 2.10% 10/1/2031  | 270 | 236 |
| Analog Devices, Inc. 5.05% 4/1/2034  | 717 | 735 |
| Analog Devices, Inc. 2.80% 10/1/2041  | 521 | 379 |
| Broadcom Corp. 3.875% 1/15/2027  | 5966 | 5927 |
| Broadcom, Inc. 5.05% 7/12/2027  | 2545 | 2582 |
| Broadcom, Inc. 4.00% 4/15/2029 <sup>(e)</sup>  | 609 | 601 |
| Broadcom, Inc. 5.05% 7/12/2029  | 2177 | 2230 |
| Broadcom, Inc. 5.15% 11/15/2031  | 5186 | 5337 |
| Broadcom, Inc. 4.15% 4/15/2032 <sup>(e)</sup>  | 630 | 607 |
| Broadcom, Inc. 3.469% 4/15/2034 <sup>(e)</sup>  | 11652 | 10413 |
| Broadcom, Inc. 4.80% 10/15/2034  | 1063 | 1051 |
| Broadcom, Inc. 3.137% 11/15/2035 <sup>(e)</sup>  | 847 | 715 |
| Broadcom, Inc. 4.926% 5/15/2037 <sup>(e)</sup>  | 2879 | 2796 |
| Cisco Systems, Inc. 4.95% 2/26/2031  | 991 | 1020 |
| Cisco Systems, Inc. 5.05% 2/26/2034  | 843 | 863 |
| Cisco Systems, Inc. 5.10% 2/24/2035  | 2675 | 2739 |
| Cisco Systems, Inc. 5.30% 2/26/2054  | 784 | 761 |
| Fair Isaac Corp. 6.00% 5/15/2033 <sup>(e)</sup>  | 1300 | 1315 |
| Microchip Technology, Inc. 5.05% 3/15/2029  | 4350 | 4421 |
| Oracle Corp. 1.65% 3/25/2026  | 4867 | 4768 |
| Oracle Corp. 4.80% 8/3/2028  | 615 | 625 |
| Oracle Corp. 5.25% 2/3/2032  | 1340 | 1375 |
| Oracle Corp. 5.50% 8/3/2035  | 2374 | 2428 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **178** |

---

------

The Bond Fund of America<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Information technology (continued)** |  |  |
| ServiceNow, Inc. 1.40% 9/1/2030  | USD726 | $630 |
| Synopsys, Inc. 5.15% 4/1/2035  | 21470 | 21649 |
| Synopsys, Inc. 5.70% 4/1/2055  | 8055 | 8015 |
|  |  | 84218 |
| **Materials 0.55%** |  |  |
| Air Products and Chemicals, Inc. 2.70% 5/15/2040  | 2911 | 2120 |
| BHP Billiton Finance (USA), Ltd. 5.25% 9/8/2033  | 138 | 141 |
| Braskem Netherlands Finance BV 7.25% 2/13/2033 <sup>(e)</sup>  | 700 | 555 |
| Celanese US Holdings, LLC 6.415% 7/15/2027  | 6297 | 6525 |
| Celanese US Holdings, LLC 6.85% 11/15/2028  | 3575 | 3759 |
| Celanese US Holdings, LLC 6.58% 7/15/2029  | 8862 | 9242 |
| Celanese US Holdings, LLC 7.05% 11/15/2030  | 4530 | 4771 |
| Celanese US Holdings, LLC 6.629% 7/15/2032  | 800 | 839 |
| Celanese US Holdings, LLC 7.20% 11/15/2033  | 1031 | 1095 |
| Chevron Phillips Chemical Co., LLC 4.75% 5/15/2030 <sup>(e)</sup>  | 834 | 846 |
| Dow Chemical Co. (The) 5.15% 2/15/2034  | 452 | 452 |
| Dow Chemical Co. (The) 5.35% 3/15/2035  | 199 | 198 |
| Dow Chemical Co. (The) 5.55% 11/30/2048  | 142 | 130 |
| Dow Chemical Co. (The) 6.90% 5/15/2053  | 62 | 67 |
| Dow Chemical Co. (The) 5.60% 2/15/2054  | 504 | 459 |
| Methanex Corp. 5.125% 10/15/2027  | 510 | 509 |
| NOVA Chemicals Corp. 8.50% 11/15/2028 <sup>(e)</sup>  | 205 | 217 |
| NOVA Chemicals Corp. 4.25% 5/15/2029 <sup>(e)</sup>  | 425 | 409 |
| OCI NV 6.70% 3/16/2033 <sup>(e)</sup>  | 950 | 1052 |
| POSCO 5.75% 1/17/2028 <sup>(e)</sup>  | 745 | 766 |
| Rio Tinto Finance (USA) PLC 4.875% 3/14/2030  | 25776 | 26281 |
|  |  | 60433 |
| **Total corporate bonds, notes & loans** |  | 3620419 |
| **U.S. Treasury bonds & notes 19.60%** | **U.S. Treasury bonds & notes 19.60%** | **U.S. Treasury bonds & notes 19.60%** |
| **U.S. Treasury 18.98%** |  |  |
| U.S. Treasury 3.00% 7/15/2025  | 97643 | 97593 |
| U.S. Treasury 5.00% 9/30/2025  | 1090 | 1092 |
| U.S. Treasury 5.00% 10/31/2025  | 27980 | 28042 |
| U.S. Treasury 2.25% 11/15/2025  | 6785 | 6734 |
| U.S. Treasury 4.25% 12/31/2025  | 4994 | 4995 |
| U.S. Treasury 3.625% 5/15/2026  | 1926 | 1919 |
| U.S. Treasury 4.625% 6/30/2026  | 198 | 199 |
| U.S. Treasury 4.375% 7/31/2026  | 271 | 272 |
| U.S. Treasury 0.75% 8/31/2026  | 8871 | 8551 |
| U.S. Treasury 4.625% 11/15/2026  | 3589 | 3625 |
| U.S. Treasury 4.00% 1/15/2027  | 3741 | 3750 |
| U.S. Treasury 1.875% 2/28/2027  | 4000 | 3877 |
| U.S. Treasury 2.625% 5/31/2027  | 43530 | 42635 |
| U.S. Treasury 3.875% 5/31/2027  | 29928 | 30048 |
| U.S. Treasury 3.75% 6/30/2027  | 233196 | 233351 |
| U.S. Treasury 2.25% 11/15/2027  | 105830 | 102343 |
| U.S. Treasury 6.125% 11/15/2027  | 24000 | 25319 |
| U.S. Treasury 1.125% 2/29/2028  | 9895 | 9253 |
| U.S. Treasury 4.00% 2/29/2028  | 4750 | 4786 |
| U.S. Treasury 3.625% 3/31/2028  | 13 | 13 |
| U.S. Treasury 3.875% 6/15/2028  | 90271 | 90747 |
| U.S. Treasury 1.00% 7/31/2028  | 5630 | 5190 |
| U.S. Treasury 1.125% 8/31/2028  | 13555 | 12516 |
| U.S. Treasury 5.25% 11/15/2028  | 5700 | 5973 |
| U.S. Treasury 2.375% 5/15/2029  | 4070 | 3872 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **179** | American Funds Insurance Series |

---

------

The Bond Fund of America<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **U.S. Treasury bonds & notes (continued)** | **U.S. Treasury bonds & notes (continued)** | **U.S. Treasury bonds & notes (continued)** |
| **U.S. Treasury (continued)** |  |  |
| U.S. Treasury 4.00% 7/31/2029  | USD334 | $337 |
| U.S. Treasury 3.875% 12/31/2029  | 44049 | 44235 |
| U.S. Treasury 3.75% 5/31/2030  | 13300 | 13270 |
| U.S. Treasury 4.00% 5/31/2030  | 23286 | 24077 |
| U.S. Treasury 3.875% 6/30/2030  | 207879 | 208683 |
| U.S. Treasury 4.125% 8/31/2030  | 11215 | 11377 |
| U.S. Treasury 4.875% 10/31/2030  | 92133 | 96710 |
| U.S. Treasury 4.125% 10/31/2031  | 1408 | 1423 |
| U.S. Treasury 4.125% 11/30/2031  | 985 | 995 |
| U.S. Treasury 4.00% 6/30/2032  | 39211 | 39233 |
| U.S. Treasury 4.125% 11/15/2032  | 114 | 115 |
| U.S. Treasury 4.375% 5/15/2034  | 100 | 102 |
| U.S. Treasury 3.875% 8/15/2034  | 6145 | 6000 |
| U.S. Treasury 4.25% 5/15/2035 <sup>(i)</sup>  | 217126 | 217415 |
| U.S. Treasury 4.25% 5/15/2039 <sup>(i)</sup>  | 125497 | 122211 |
| U.S. Treasury 1.375% 11/15/2040  | 24540 | 15629 |
| U.S. Treasury 1.875% 2/15/2041  | 24272 | 16696 |
| U.S. Treasury 4.75% 2/15/2041  | 75066 | 76057 |
| U.S. Treasury 2.00% 11/15/2041  | 57 | 39 |
| U.S. Treasury 2.375% 2/15/2042  | 2701 | 1964 |
| U.S. Treasury 3.25% 5/15/2042  | 10848 | 8972 |
| U.S. Treasury 5.00% 5/15/2045  | 108592 | 111536 |
| U.S. Treasury 3.00% 2/15/2049  | 124633 | 91812 |
| U.S. Treasury 2.875% 5/15/2049  | 19228 | 13799 |
| U.S. Treasury 2.875% 5/15/2052  | 990 | 697 |
| U.S. Treasury 4.00% 11/15/2052  | 7328 | 6412 |
| U.S. Treasury 4.125% 8/15/2053  | 213 | 190 |
| U.S. Treasury 4.625% 2/15/2055 <sup>(i)</sup>  | 228046 | 221971 |
| U.S. Treasury 4.75% 5/15/2055  | 2905 | 2888 |
|  |  | 2081540 |
| **U.S. Treasury inflation-protected securities 0.62%** |  |  |
| U.S. Treasury Inflation-Protected Security 0.375% 7/15/2025 <sup>(j)</sup>  | 5495 | 5493 |
| U.S. Treasury Inflation-Protected Security 0.125% 10/15/2026 <sup>(j)</sup>  | 6045 | 5977 |
| U.S. Treasury Inflation-Protected Security 1.875% 7/15/2034 <sup>(j)</sup>  | 11474 | 11488 |
| U.S. Treasury Inflation-Protected Security 2.125% 1/15/2035 <sup>(j)</sup>  | 5974 | 6073 |
| U.S. Treasury Inflation-Protected Security 0.125% 2/15/2051 <sup>(j)</sup>  | — <br><sup>(c)</sup><br>| — <br><sup>(c)</sup><br>|
| U.S. Treasury Inflation-Protected Security 1.50% 2/15/2053 <sup>(j)</sup>  | 2337 | 1852 |
| U.S. Treasury Inflation-Protected Security 2.125% 2/15/2054 <sup>(j)</sup>  | 13940 | 12763 |
| U.S. Treasury Inflation-Protected Security 2.375% 2/15/2055 <sup>(j)</sup>  | 24528 | 23721 |
|  |  | 67367 |
| **Total U.S. Treasury bonds & notes** |  | 2148907 |
| **Asset-backed obligations 5.42%** | **Asset-backed obligations 5.42%** | **Asset-backed obligations 5.42%** |
| Affirm Asset Securitization Trust, Series 2021-Z2, Class A, 1.17% 11/16/2026 <sup>(a)(e)</sup>  | 4 | 4 |
| Affirm Asset Securitization Trust, Series 2024-B, Class A, 4.62% 9/15/2029 <sup>(a)(e)</sup>  | 9848 | 9853 |
| Affirm, Inc., Series 2024, Class 1A, 5.61% 2/15/2029 <sup>(a)(e)</sup>  | 11785 | 11841 |
| Affirm, Inc., Series 2024-A, Class A, 5.61% 2/15/2029 <sup>(a)(e)</sup>  | 3485 | 3502 |
| Affirm, Inc., Series 2024-X1, Class A, 6.27% 5/15/2029 <sup>(a)(e)</sup>  | 200 | 200 |
| Affirm, Inc., Series 2024-X2, Class A, 5.22% 12/17/2029 <sup>(a)(e)</sup>  | 2787 | 2789 |
| Ally Auto Receivables Trust, Series 2023-1, Class A3, 5.46% 5/15/2028 <sup>(a)</sup>  | 431 | 434 |
| American Credit Acceptance Receivables Trust, Series 2023-4, Class B, 6.63% 2/14/2028 <sup>(a)(e)</sup>  | 1843 | 1846 |
| American Homes 4 Rent, Series 2015-SFR2, Class A, 3.732% 10/17/2052 <sup>(a)(e)</sup>  | 2622 | 2611 |
| American Homes 4 Rent, Series 2015-SFR2, Class B, 4.295% 10/17/2052 <sup>(a)(e)</sup>  | 396 | 394 |
| AmeriCredit Automobile Receivables Trust, Series 2021-2, Class C, 1.01% 1/19/2027 <sup>(a)</sup>  | 581 | 575 |
| AmeriCredit Automobile Receivables Trust, Series 2021-2, Class D, 1.29% 6/18/2027 <sup>(a)</sup>  | 2613 | 2562 |
| Apollo Aviation Securitization Equity Trust, Series 2025-2A, Class A, 5.522% 2/16/2050 <sup>(a)(e)</sup>  | 4926 | 4986 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **180** |

---

------

The Bond Fund of America<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** |
| Avant Credit Card Master Trust, Series 2024-2A, Class A, 5.38% 5/15/2029 <sup>(a)(e)</sup>  | USD13,550 | $13516 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2020-1A, Class A, 2.33% 8/20/2026 <sup>(a)(e)</sup>  | 2563 | 2557 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2020-2, Class A, 2.02% 2/20/2027 <sup>(a)(e)</sup>  | 2427 | 2400 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2020-2A, Class B, 2.96% 2/20/2027 <sup>(a)(e)</sup>  | 623 | 617 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2020-2, Class C, 4.25% 2/20/2027 <sup>(a)(e)</sup>  | 1279 | 1271 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2021-1A, Class A, 1.38% 8/20/2027 <sup>(a)(e)</sup>  | 3445 | 3347 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2021-1A, Class B, 1.63% 8/20/2027 <sup>(a)(e)</sup>  | 531 | 515 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2021-1A, Class C, 2.13% 8/20/2027 <sup>(a)(e)</sup>  | 193 | 187 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-5, Class A, 5.78% 4/20/2028 <sup>(a)(e)</sup>  | 6724 | 6864 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2025-1A, Class A, 4.80% 8/20/2029 <sup>(a)(e)</sup>  | 1348 | 1365 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-6, Class A, 5.81% 12/20/2029 <sup>(a)(e)</sup>  | 5059 | 5263 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2024-1, Class A, 5.36% 6/20/2030 <sup>(a)(e)</sup>  | 4665 | 4795 |
| AXIS Equipment Finance Receivables, LLC, Series 2024-2, Class A2, 5.19% 7/21/2031 <sup>(a)(e)</sup>  | 5541 | 5594 |
| Bankers Healthcare Group Securitization Trust, Series 2021-B, Class B, 1.67% 10/17/2034 <sup>(a)(e)</sup>  | 208 | 203 |
| Blackbird Capital II Aircraft Lease, Ltd. / Blackbird Capital II Aircraft Lease US, LLC, Series 2021-1, Class A, <br> 2.443% 7/15/2046 <sup>(a)(e)</sup>  | 3080 | 2892 |
| Blackbird Capital II Aircraft Lease, Ltd. / Blackbird Capital II Aircraft Lease US, LLC, Series 2021-1, Class B, <br> 3.446% 7/15/2046 <sup>(a)(e)</sup>  | 354 | 333 |
| Blue Owl Asset Leasing Trust, Series 2024-1A, Class A2, 5.05% 3/15/2029 <sup>(a)(e)</sup>  | 1183 | 1185 |
| BMW Vehicle Owner Trust, Series 2023-A, Class A3, 5.47% 2/25/2028 <sup>(a)</sup>  | 160 | 161 |
| Bridgecrest Lending Auto Securitization Trust, Series 2023-1, Class A3, 6.51% 11/15/2027 <sup>(a)</sup>  | 266 | 267 |
| Bridgecrest Lending Auto Securitization Trust, Series 2024-1, Class A3, 5.53% 1/18/2028 <sup>(a)</sup>  | 2571 | 2575 |
| Bridgecrest Lending Auto Securitization Trust, Series 2023-1, Class B, 6.80% 8/15/2029 <sup>(a)</sup>  | 1400 | 1413 |
| Business Jet Securities, LLC, Series 2024-2A, Class A, 5.364% 9/15/2039 <sup>(a)(e)</sup>  | 6424 | 6450 |
| Capteris Equipment Finance, Series 2024-1, Class A2, 5.58% 7/20/2032 <sup>(a)(e)</sup>  | 13328 | 13517 |
| Carvana Auto Receivables Trust, Series 2023-N3, Class A, 6.41% 9/10/2027 <sup>(a)(e)</sup>  | 27 | 27 |
| Carvana Auto Receivables Trust, Series 2023-P3, Class A3, 5.82% 8/10/2028 <sup>(a)(e)</sup>  | 388 | 391 |
| Carvana Auto Receivables Trust, Series 2021-N4, Class C, 1.72% 9/11/2028 <sup>(a)</sup>  | 65 | 63 |
| Carvana Auto Receivables Trust, Series 2023-P3, Class A4, 5.71% 7/10/2029 <sup>(a)(e)</sup>  | 172 | 177 |
| Castlelake Aircraft Securitization Trust, Series 2021-1, Class A, 2.868% 5/11/2037 <sup>(a)(e)</sup>  | 13731 | 12661 |
| Castlelake Aircraft Securitization Trust, Series 2021-1, Class C, 3.464% 5/11/2037 <sup>(a)(e)</sup>  | 5358 | 4964 |
| Castlelake Aircraft Securitization Trust, Series 2021-1, Class C, 6.171% 5/11/2037 <sup>(a)(e)</sup>  | 597 | 561 |
| Castlelake Aircraft Securitization Trust, Series 2017-1R, Class A, 2.741% 8/15/2041 <sup>(a)(e)</sup>  | 196 | 189 |
| CF Hippolyta, LLC, Series 2020-1, Class A1, 1.69% 7/15/2060 <sup>(a)(e)</sup>  | 18497 | 18303 |
| CF Hippolyta, LLC, Series 2020-1, Class A2, 1.99% 7/15/2060 <sup>(a)(e)</sup>  | 1907 | 1765 |
| CF Hippolyta, LLC, Series 2020-1, Class B1, 2.28% 7/15/2060 <sup>(a)(e)</sup>  | 3362 | 3327 |
| CF Hippolyta, LLC, Series 2020-1, Class B2, 2.60% 7/15/2060 <sup>(a)(e)</sup>  | 364 | 328 |
| CF Hippolyta, LLC, Series 2021-1, Class A1, 1.53% 3/15/2061 <sup>(a)(e)</sup>  | 5994 | 5770 |
| CF Hippolyta, LLC, Series 2021-1, Class B1, 1.98% 3/15/2061 <sup>(a)(e)</sup>  | 1898 | 1785 |
| CF Hippolyta, LLC, Series 2022-1A, Class A1, 5.97% 8/15/2062 <sup>(a)(e)</sup>  | 14984 | 15034 |
| CF Hippolyta, LLC, Series 2022-1A, Class A2, 6.11% 8/15/2062 <sup>(a)(e)</sup>  | 6572 | 6618 |
| Chesapeake Funding II, LLC, Series 2023-2, Class A1, 6.16% 10/15/2035 <sup>(a)(e)</sup>  | 622 | 630 |
| Citizens Auto Receivables Trust, Series 2023-2, Class A3, 5.83% 2/15/2028 <sup>(a)(e)</sup>  | 1556 | 1568 |
| Citizens Auto Receivables Trust, Series 2023-2, Class A4, 5.74% 10/15/2030 <sup>(a)(e)</sup>  | 799 | 817 |
| Clarus Capital Funding, LLC, Series 2024-1A, Class A2, 4.71% 8/20/2032 <sup>(a)(e)</sup>  | 6872 | 6882 |
| CLI Funding VI, LLC, Series 2020-2A, Class A, 2.03% 9/15/2045 <sup>(a)(e)</sup>  | 1538 | 1432 |
| CLI Funding VI, LLC, Series 2020-3A, Class A, 2.07% 10/18/2045 <sup>(a)(e)</sup>  | 3114 | 2902 |
| CLI Funding VIII, LLC, Series 2021-1A, Class A, 2.38% 2/18/2046 <sup>(a)(e)</sup>  | 285 | 261 |
| CPS Auto Receivables Trust, Series 2024-A, Class B, 5.65% 5/15/2028 <sup>(a)(e)</sup>  | 1237 | 1241 |
| CPS Auto Receivables Trust, Series 2024-D, Class A, 4.91% 6/15/2028 <sup>(a)(e)</sup>  | 1076 | 1077 |
| CPS Auto Receivables Trust, Series 2022-B, Class C, 4.33% 8/15/2028 <sup>(a)(e)</sup>  | 921 | 920 |
| Drive Auto Receivables Trust, Series 2024-2, Class A2, 4.94% 12/15/2027 <sup>(a)</sup>  | 1107 | 1108 |
| DriveTime Auto Owner Trust, Series 2021-2A, Class D, 1.50% 2/16/2027 <sup>(a)(e)</sup>  | 166 | 165 |
| DriveTime Auto Owner Trust, Series 2023-3, Class C, 6.40% 5/15/2029 <sup>(a)(e)</sup>  | 819 | 832 |
| DriveTime Auto Owner Trust, Series 2023-3, Class D, 7.12% 5/15/2029 <sup>(a)(e)</sup>  | 846 | 881 |
| EDvestinU Private Education Loan, LLC, Series 2021-A, Class A, 1.80% 11/25/2045 <sup>(a)(e)</sup>  | 262 | 241 |
| Enterprise Fleet Financing, LLC, Series 2024-3, Class A2, 5.31% 4/20/2027 <sup>(a)(e)</sup>  | 2594 | 2605 |
| Enterprise Fleet Financing, LLC, Series 2024-4, Class A2, 4.69% 7/20/2027 <sup>(a)(e)</sup>  | 9326 | 9341 |
| Enterprise Fleet Financing, LLC, Series 2022-3, Class A3, 4.29% 7/20/2029 <sup>(a)(e)</sup>  | 897 | 896 |
| Enterprise Fleet Financing, LLC, Series 2022-3, Class A2, 4.38% 7/20/2029 <sup>(a)(e)</sup>  | 260 | 260 |
| Enterprise Fleet Financing, LLC, Series 2024-1, Class A2, 5.23% 3/20/2030 <sup>(a)(e)</sup>  | 10564 | 10643 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **181** | American Funds Insurance Series |

---

------

The Bond Fund of America<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** |
| EquipmentShare, Series 2024-2M, Class A, 5.70% 12/20/2032 <sup>(a)(e)</sup>  | USD7,961 | $8088 |
| EquipmentShare, Series 2025-1M, Class A, 5.48% 9/26/2033 <sup>(a)(e)</sup>  | 4046 | 4075 |
| Exeter Automobile Receivables Trust, Series 2021-2, Class D, 1.40% 4/15/2027 <sup>(a)</sup>  | 1218 | 1199 |
| Exeter Automobile Receivables Trust, Series 2023-3A, Class B, 6.11% 9/15/2027 <sup>(a)</sup>  | 34 | 34 |
| Exeter Automobile Receivables Trust, Series 2023-5A, Class B, 6.58% 4/17/2028 <sup>(a)</sup>  | 3989 | 4012 |
| Exeter Automobile Receivables Trust, Series 2023-3A, Class C, 6.21% 6/15/2028 <sup>(a)</sup>  | 418 | 421 |
| Exeter Automobile Receivables Trust, Series 2022-2A, Class D, 4.56% 7/17/2028 <sup>(a)</sup>  | 271 | 270 |
| Exeter Automobile Receivables Trust, Series 2023-3A, Class D, 6.68% 4/16/2029 <sup>(a)</sup>  | 758 | 774 |
| Exeter Automobile Receivables Trust, Series 2023-1A, Class D, 6.69% 6/15/2029 <sup>(a)</sup>  | 462 | 470 |
| Exeter Automobile Receivables Trust, Series 2023-3A, Class E, 9.98% 1/15/2031 <sup>(a)(e)</sup>  | 1014 | 1105 |
| Flagship Credit Auto Trust, Series 2023-3, Class A3, 5.44% 4/17/2028 <sup>(a)(e)</sup>  | 561 | 562 |
| Flagship Credit Auto Trust, Series 2023-3, Class B, 5.64% 7/16/2029 <sup>(a)(e)</sup>  | 312 | 315 |
| Flagship Credit Auto Trust, Series 2023-3, Class C, 6.01% 7/16/2029 <sup>(a)(e)</sup>  | 454 | 463 |
| Flagship Credit Auto Trust, Series 2023-3, Class D, 6.58% 8/15/2029 <sup>(a)(e)</sup>  | 307 | 309 |
| Ford Credit Auto Owner Trust, Series 2023-B, Class A3, 5.23% 5/15/2028 <sup>(a)</sup>  | 703 | 707 |
| Ford Credit Auto Owner Trust, Series 2023-B, Class A4, 5.06% 2/15/2029 <sup>(a)</sup>  | 597 | 605 |
| Ford Credit Auto Owner Trust, Series 2023-1, Class A, 4.85% 8/15/2035 <sup>(a)(e)</sup>  | 4218 | 4283 |
| Ford Credit Floorplan Master Owner Trust, Series 2023-1, Class A1, 4.92% 5/15/2028 <sup>(a)(e)</sup>  | 5833 | 5860 |
| GCI Funding I, LLC, Series 2020-1, Class A, 2.82% 10/18/2045 <sup>(a)(e)</sup>  | 1411 | 1330 |
| GCI Funding I, LLC, Series 2021-1, Class A, 2.38% 6/18/2046 <sup>(a)(e)</sup>  | 1071 | 986 |
| GCI Funding I, LLC, Series 2021-1, Class B, 3.04% 6/18/2046 <sup>(a)(e)</sup>  | 119 | 109 |
| Global SC Finance VII SRL, Series 2020-2A, Class A, 2.26% 11/19/2040 <sup>(a)(e)</sup>  | 1838 | 1756 |
| Global SC Finance VII SRL, Series 2021-1A, Class A, 1.86% 4/17/2041 <sup>(a)(e)</sup>  | 6720 | 6222 |
| Global SC Finance VII SRL, Series 2021-2A, Class A, 1.95% 8/17/2041 <sup>(a)(e)</sup>  | 1869 | 1743 |
| Global SC Finance VII SRL, Series 2021-2A, Class B, 2.49% 8/17/2041 <sup>(a)(e)</sup>  | 1574 | 1458 |
| GLS Auto Receivables Trust, Series 2023-4, Class A3, 6.42% 6/15/2027 <sup>(a)(e)</sup>  | 1197 | 1198 |
| GLS Auto Receivables Trust, Series 2024-3A, Class A2, 5.35% 8/16/2027 <sup>(a)(e)</sup>  | 1079 | 1080 |
| GLS Auto Receivables Trust, Series 2023-3, Class B, 5.89% 1/18/2028 <sup>(a)(e)</sup>  | 1053 | 1056 |
| GLS Auto Receivables Trust, Series 2023-3, Class C, 6.01% 5/15/2029 <sup>(a)(e)</sup>  | 561 | 567 |
| GLS Auto Receivables Trust, Series 2023-3, Class D, 6.44% 5/15/2029 <sup>(a)(e)</sup>  | 507 | 519 |
| GLS Auto Select Receivables Trust, Series 2024-4A, Class A2, 4.43% 12/17/2029 <sup>(a)(e)</sup>  | 2399 | 2398 |
| GLS Auto Select Receivables Trust, Series 2024-2, Class A2, 5.58% 6/17/2030 <sup>(a)(e)</sup>  | 1521 | 1536 |
| GM Financial Automobile Leasing Trust, Series 2023-3, Class A3, 5.38% 11/20/2026 <sup>(a)</sup>  | 457 | 457 |
| GM Financial Automobile Leasing Trust, Series 2023-3, Class A4, 5.44% 8/20/2027 <sup>(a)</sup>  | 101 | 101 |
| GM Financial Consumer Automobile Receivables Trust, Series 2023-3, Class A3, 5.45% 6/16/2028 <sup>(a)</sup>  | 434 | 436 |
| GM Financial Consumer Automobile Receivables Trust, Series 2023-3, Class A4, 5.34% 12/18/2028 <sup>(a)</sup>  | 320 | 325 |
| GM Financial Revolving Receivables Trust, Series 2023-1, Class A, 5.12% 4/11/2035 <sup>(a)(e)</sup>  | 4815 | 4929 |
| GM Financial Revolving Receivables Trust, Series 2022-1, Class A, 5.91% 10/11/2035 <sup>(a)(e)</sup>  | 2703 | 2806 |
| GM Financial Revolving Receivables Trust, Series 2023-2, Class A, 5.77% 8/11/2036 <sup>(a)(e)</sup>  | 3984 | 4173 |
| GMF Floorplan Owner Revolving Trust, Series 2023-1, Class A1, 5.34% 6/15/2028 <sup>(a)(e)</sup>  | 1600 | 1616 |
| GMF Floorplan Owner Revolving Trust, Series 2023-1, Class A, 5.34% 6/17/2030 <sup>(a)(e)</sup>  | 948 | 977 |
| Hertz Vehicle Financing III, LLC, Series 2023-1, Class 1D, 9.13% 6/25/2027 <sup>(a)(e)</sup>  | 330 | 334 |
| Hertz Vehicle Financing III, LLC, Series 2022-2, Class D, 5.16% 6/26/2028 <sup>(a)(e)</sup>  | 1174 | 1122 |
| Hertz Vehicle Financing, LLC, Series 2021-2A, Class A, 1.68% 12/27/2027 <sup>(a)(e)</sup>  | 17770 | 17097 |
| Hertz Vehicle Financing, LLC, Series 2021-2A, Class B, 2.12% 12/27/2027 <sup>(a)(e)</sup>  | 1264 | 1209 |
| Hertz Vehicle Financing, LLC, Series 2021-2A, Class C, 2.52% 12/27/2027 <sup>(a)(e)</sup>  | 859 | 824 |
| Hertz Vehicle Financing, LLC, Series 2024-1A, Class A, 5.44% 1/25/2029 <sup>(a)(e)</sup>  | 3007 | 3057 |
| Honda Auto Receivables Owner Trust, Series 2023-1, Class A3, 5.04% 4/21/2027 <sup>(a)</sup>  | 190 | 191 |
| Honda Auto Receivables Owner Trust, Series 2023-1, Class A4, 4.97% 6/21/2029 <sup>(a)</sup>  | 188 | 189 |
| Horizon Aircraft Finance, Series 2024-1, Class A, 5.375% 9/15/2049 <sup>(a)(e)</sup>  | 9124 | 9145 |
| Hyundai Auto Receivables Trust, Series 2023-B, Class A3, 5.48% 4/17/2028 <sup>(a)</sup>  | 139 | 140 |
| Hyundai Auto Receivables Trust, Series 2023-B, Class A4, 5.31% 8/15/2029 <sup>(a)</sup>  | 160 | 163 |
| LAD Auto Receivables Trust, Series 2022-1, Class A, 5.21% 6/15/2027 <sup>(a)(e)</sup>  | 84 | 84 |
| LAD Auto Receivables Trust, Series 2023-1, Class A3, 5.48% 6/15/2027 <sup>(a)(e)</sup>  | 296 | 297 |
| LAD Auto Receivables Trust, Series 2022-1, Class B, 5.87% 9/15/2027 <sup>(a)(e)</sup>  | 438 | 440 |
| LAD Auto Receivables Trust, Series 2023-4, Class A3, 6.10% 12/15/2027 <sup>(a)(e)</sup>  | 993 | 997 |
| LAD Auto Receivables Trust, Series 2023-2, Class A3, 5.42% 2/15/2028 <sup>(a)(e)</sup>  | 775 | 776 |
| LAD Auto Receivables Trust, Series 2023-2, Class B, 5.45% 4/15/2028 <sup>(a)(e)</sup>  | 615 | 618 |
| LAD Auto Receivables Trust, Series 2023-3, Class B, 6.09% 6/15/2028 <sup>(a)(e)</sup>  | 848 | 861 |
| LAD Auto Receivables Trust, Series 2023-2, Class C, 5.58% 9/15/2028 <sup>(a)(e)</sup>  | 1361 | 1375 |
| LAD Auto Receivables Trust, Series 2023-4, Class B, 6.39% 10/16/2028 <sup>(a)(e)</sup>  | 3223 | 3300 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **182** |

---

------

The Bond Fund of America<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** |
| LAD Auto Receivables Trust, Series 2023-3, Class C, 6.43% 12/15/2028 <sup>(a)(e)</sup>  | USD714 | $732 |
| LAD Auto Receivables Trust, Series 2022-1, Class C, 6.85% 4/15/2030 <sup>(a)(e)</sup>  | 623 | 632 |
| LAD Auto Receivables Trust, Series 2023-3, Class D, 6.92% 12/16/2030 <sup>(a)(e)</sup>  | 483 | 502 |
| LAD Auto Receivables Trust, Series 2023-2, Class D, 6.30% 2/15/2031 <sup>(a)(e)</sup>  | 123 | 126 |
| Mercedes-Benz Auto Receivables Trust, Series 2023-2, Class A3, 5.95% 11/15/2028 <sup>(a)</sup>  | 1050 | 1064 |
| Merchants Fleet Funding, LLC, Series 2023-1, Class A, 7.21% 5/20/2036 <sup>(a)(e)</sup>  | 698 | 704 |
| Merchants Fleet Funding, LLC, Series 2024-1, Class A, 5.82% 4/20/2037 <sup>(a)(e)</sup>  | 7005 | 7052 |
| Mission Lane Credit Card Master Trust, Series 2025-B, Class A, 5.40% 9/15/2031 <sup>(a)(e)</sup>  | 8461 | 8466 |
| Navient Education Loan Trust, Series 2025-A, Class A, 5.02% 7/15/2055 <sup>(a)(e)</sup>  | 7140 | 7186 |
| Navient Student Loan Trust, Series 2021-CA, Class A, 1.06% 10/15/2069 <sup>(a)(e)</sup>  | 1609 | 1449 |
| Navient Student Loan Trust, Series 2021-EA, Class A, 0.97% 12/16/2069 <sup>(a)(e)</sup>  | 940 | 842 |
| Navient Student Loan Trust, Series 2021-G, Class A, 1.58% 4/15/2070 <sup>(a)(e)</sup>  | 598 | 541 |
| Navigator Aircraft ABS, Ltd., Series 2021-1, Class A, 2.771% 11/15/2046 <sup>(a)(e)</sup>  | 3380 | 3163 |
| Nelnet Student Loan Trust, Series 2025-AA, Class A1B, (30-day Average USD-SOFR + 1.10%) 5.404% <br> 3/15/2057 <sup>(a)(b)(e)</sup>  | 16395 | 16301 |
| Nelnet Student Loan Trust, Series 2021-CA, Class AFX, 1.32% 4/20/2062 <sup>(a)(e)</sup>  | 165 | 154 |
| Nelnet Student Loan Trust, Series 2021-A, Class APT1, 1.36% 4/20/2062 <sup>(a)(e)</sup>  | 2818 | 2652 |
| Nelnet Student Loan Trust, Series 2021-B, Class AFX, 1.42% 4/20/2062 <sup>(a)(e)</sup>  | 6417 | 6005 |
| Nelnet Student Loan Trust, Series 2021-CA, Class AFL, (1-month USD CME Term SOFR + 0.854%) 5.172% <br>4/20/2062 <sup>(a)(b)(e)</sup>  | 2117 | 2107 |
| New Economy Assets Phase 1 Issuer, LLC, Series 2021-1, Class A1, 1.91% 10/20/2061 <sup>(a)(e)</sup>  | 50765 | 47836 |
| Newark BSL CLO 2, Ltd., Series 2017-1A, Class A1R, (3-month USD CME Term SOFR + 1.232%) 5.513% <br>7/25/2030 <sup>(a)(b)(e)</sup>  | 121 | 122 |
| Nissan Auto Receivables Owner Trust, Series 2023-B, Class A3, 5.93% 3/15/2028 <sup>(a)</sup>  | 598 | 603 |
| NMEF Funding, LLC, Series 2024-A, Class A2, 5.15% 12/15/2031 <sup>(a)(e)</sup>  | 5287 | 5313 |
| OnDeck Asset Securitization Trust, LLC, Series 2024-2A, Class A, 4.98% 10/17/2031 <sup>(a)(e)</sup>  | 2314 | 2303 |
| OnDeck Asset Securitization Trust, LLC, Series 2024-2A, Class B, 5.42% 10/17/2031 <sup>(a)(e)</sup>  | 482 | 480 |
| PEAC Solutions Receivables, LLC, Series 2024-2A, Class A2, 4.74% 4/20/2027 <sup>(a)(e)</sup>  | 2782 | 2783 |
| PEAC Solutions Receivables, LLC, Series 2024-1A, Class A2, 5.79% 6/21/2027 <sup>(a)(e)</sup>  | 3502 | 3530 |
| PFS Financing Corp., Series 2022-D, Class A, 4.27% 8/16/2027 <sup>(a)(e)</sup>  | 1721 | 1720 |
| PFS Financing Corp., Series 2023-D, Class A, (30-day Average USD-SOFR + 1.15%) 5.454% <br> 8/16/2027 <sup>(a)(b)(e)</sup>  | 1393 | 1394 |
| PFS Financing Corp., Series 2023-A, Class A, 5.80% 3/15/2028 <sup>(a)(e)</sup>  | 1710 | 1725 |
| PFS Financing Corp., Series 2023-B, Class A, 5.27% 5/15/2028 <sup>(a)(e)</sup>  | 4558 | 4589 |
| PFS Financing Corp., Series 2023-C, Class A, 5.52% 10/16/2028 <sup>(a)(e)</sup>  | 909 | 923 |
| PK ALIFT Loan Funding 4, LP, Series 2024-2, Class A, 5.052% 10/15/2039 <sup>(a)(e)</sup>  | 4870 | 4861 |
| Post Road Equipment Finance, Series 2024-1, Class A2, 5.59% 11/15/2029 <sup>(a)(e)</sup>  | 1652 | 1661 |
| Prestige Auto Receivables Trust, Series 2023-2, Class B, 6.64% 12/15/2027 <sup>(a)(e)</sup>  | 5088 | 5119 |
| Prodigy Finance Designated Activity Co., Series 2021-1A, Class A, (1-month USD CME Term SOFR + <br> 1.364%) 5.684% 7/25/2051 <sup>(a)(b)(e)</sup>  | 179 | 179 |
| Santander Drive Auto Receivables Trust, Series 2021-2, Class D, 1.35% 7/15/2027 <sup>(a)</sup>  | 215 | 214 |
| Santander Drive Auto Receivables Trust, Series 2024-4, Class A2, 5.41% 7/15/2027 <sup>(a)</sup>  | 1700 | 1702 |
| Santander Drive Auto Receivables Trust, Series 2021-3, Class D, 1.33% 9/15/2027 <sup>(a)</sup>  | 512 | 510 |
| Santander Drive Auto Receivables Trust, Series 2024-1, Class A3, 5.25% 4/17/2028 <sup>(a)</sup>  | 585 | 586 |
| Santander Drive Auto Receivables Trust, Series 2022-5, Class C, 4.74% 10/16/2028 <sup>(a)</sup>  | 630 | 630 |
| Santander Drive Auto Receivables Trust, Series 2023-4, Class B, 5.77% 12/15/2028 <sup>(a)</sup>  | 700 | 709 |
| SBNA Auto Lease Trust, Series 2024-A, Class A3, 5.39% 11/20/2026 <sup>(a)(e)</sup>  | 4791 | 4803 |
| SCF Equipment Leasing, LLC, Series 2024-1A, Class A2, 5.88% 11/20/2029 <sup>(a)(e)</sup>  | 2182 | 2198 |
| SFS Auto Receivables Securitization Trust, Series 2023-1, Class A3, 5.47% 10/20/2028 <sup>(a)(e)</sup>  | 558 | 562 |
| SFS Auto Receivables Securitization Trust, Series 2023-1, Class A4, 5.47% 12/20/2029 <sup>(a)(e)</sup>  | 361 | 368 |
| SLAM, Ltd., Series 2021-1, Class A, 2.434% 6/15/2046 <sup>(a)(e)</sup>  | 2186 | 2050 |
| SLAM, Ltd., Series 2021-1, Class B, 3.422% 6/15/2046 <sup>(a)(e)</sup>  | 403 | 375 |
| SMB Private Education Loan Trust, Series 2023-C, Class A1A, 5.67% 11/15/2052 <sup>(a)(e)</sup>  | 646 | 663 |
| SMB Private Education Loan Trust, Series 2023-C, Class A1B, (30-day Average USD-SOFR + 1.55%) <br>5.854% 11/15/2052 <sup>(a)(b)(e)</sup>  | 713 | 721 |
| SMB Private Education Loan Trust, Series 2025-A, Class A1A, 5.13% 4/15/2054 <sup>(a)(e)</sup>  | 6704 | 6788 |
| SOLRR Aircraft Aviation Holding, Ltd., Series 2021-1, Class A, 2.636% 10/15/2046 <sup>(a)(e)</sup>  | 1899 | 1772 |
| SPRITE, Ltd., Series 2021-1, Class A, 3.75% 11/15/2046 <sup>(a)(e)</sup>  | 1667 | 1612 |
| Stellar Jay Ireland DAC, Series 2021-1, Class A, 3.967% 10/15/2041 <sup>(a)(e)</sup>  | 181 | 178 |
| Stonepeak Infrastructure Partners, Series 2021-1A, Class AA, 2.301% 2/28/2033 <sup>(a)(e)</sup>  | 462 | 443 |
| Stonepeak Infrastructure Partners, Series 2021-1A, Class A, 2.675% 2/28/2033 <sup>(a)(e)</sup>  | 529 | 506 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **183** | American Funds Insurance Series |

---

------

The Bond Fund of America<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** |
| SuttonPark Structured Settlements, Series 2021-1, Class A, 1.95% 9/15/2075 <sup>(a)(e)</sup>  | USD995 | $961 |
| TAL Advantage V, LLC, Series 2020-1A, Class A, 2.05% 9/20/2045 <sup>(a)(e)</sup>  | 1950 | 1838 |
| Textainer Marine Containers, Ltd., Series 2020-1A, Class A, 2.73% 8/21/2045 <sup>(a)(e)</sup>  | 792 | 760 |
| Textainer Marine Containers, Ltd., Series 2020-2A, Class A, 2.10% 9/20/2045 <sup>(a)(e)</sup>  | 1532 | 1433 |
| Textainer Marine Containers, Ltd., Series 2021-1, Class A, 1.68% 2/20/2046 <sup>(a)(e)</sup>  | 4739 | 4364 |
| Textainer Marine Containers, Ltd., Series 2021-1, Class B, 2.52% 2/20/2046 <sup>(a)(e)</sup>  | 265 | 244 |
| Textainer Marine Containers, Ltd., Series 2021-2A, Class A, 2.23% 4/20/2046 <sup>(a)(e)</sup>  | 4000 | 3736 |
| TIF Funding II, LLC, Series 2020-1A, Class A, 2.09% 8/20/2045 <sup>(a)(e)</sup>  | 3293 | 3096 |
| TIF Funding II, LLC, Series 2021-1A, Class B, 2.54% 2/20/2046 <sup>(a)(e)</sup>  | 99 | 89 |
| Triton Container Finance VIII, LLC, Series 2020-1, Class A, 2.11% 9/20/2045 <sup>(a)(e)</sup>  | 7680 | 7145 |
| Triton Container Finance VIII, LLC, Series 2021-1, Class A, 1.86% 3/20/2046 <sup>(a)(e)</sup>  | 2674 | 2445 |
| Triton Container Finance VIII, LLC, Series 2021-1A, Class B, 2.58% 3/20/2046 <sup>(a)(e)</sup>  | 260 | 236 |
| Verizon Master Trust, Series 2024-1, Class A1A, 5.00% 12/20/2028 <sup>(a)</sup>  | 7985 | 8003 |
| Verizon Master Trust, Series 2023-3, Class A, 4.73% 4/21/2031 <sup>(a)(e)</sup>  | 5380 | 5466 |
| Westlake Automobile Receivables Trust, Series 2021-2, Class D, 1.23% 12/15/2026 <sup>(a)(e)</sup>  | 206 | 206 |
| Westlake Automobile Receivables Trust, Series 2023-3, Class A3, 5.82% 5/17/2027 <sup>(a)(e)</sup>  | 2559 | 2565 |
| Westlake Automobile Receivables Trust, Series 2023-4, Class A3, 6.24% 7/15/2027 <sup>(a)(e)</sup>  | 3052 | 3070 |
| Westlake Automobile Receivables Trust, Series 2023-3, Class B, 5.92% 9/15/2028 <sup>(a)(e)</sup>  | 1175 | 1182 |
| Westlake Automobile Receivables Trust, Series 2023-3, Class C, 6.02% 9/15/2028 <sup>(a)(e)</sup>  | 2219 | 2251 |
| Westlake Automobile Receivables Trust, Series 2023-3, Class D, 6.47% 3/15/2029 <sup>(a)(e)</sup>  | 1236 | 1267 |
| Wheels Fleet Lease Funding, LLC, Series 24-2A, Class A1, 4.87% 6/21/2039 <sup>(a)(e)</sup>  | 12088 | 12160 |
| Wheels Fleet Lease Funding, LLC, Series 2024-3A, Class A1, 4.80% 9/19/2039 <sup>(a)(e)</sup>  | 9695 | 9747 |
| World Omni Auto Receivables Trust, Series 2023-C, Class A3, 5.15% 11/15/2028 <sup>(a)</sup>  | 273 | 274 |
| World Omni Auto Receivables Trust, Series 2023-C, Class A4, 5.03% 11/15/2029 <sup>(a)</sup>  | 232 | 235 |
|  |  | 594080 |
| **Municipals 1.46%** | **Municipals 1.46%** | **Municipals 1.46%** |
| **California 0.02%** |  |  |
| GO Bonds, Series 2009, 7.50% 4/1/2034  | 2100 | 2439 |
| **Illinois 1.30%** |  |  |
| City of Chicago, Board of Education, Unlimited Tax GO Bonds (Dedicated Rev.), Series 2010-C, 6.319% <br> 11/1/2029  | 65 | 64 |
| City of Chicago, Board of Education, Unlimited Tax GO Bonds (Dedicated Rev.), Series 2009-E, 6.138% <br> 12/1/2039  | 31050 | 28815 |
| City of Chicago, Board of Education, Unlimited Tax GO Bonds (Dedicated Rev.), Series 2010-D, 6.519% <br> 12/1/2040  | 8945 | 8386 |
| City of Chicago, Board of Education, Unlimited Tax GO Bonds (Qualified School Construction Bonds), <br>Series 2009-G, 1.75% 12/15/2025  | 2500 | 2457 |
| GO Bonds, Pension Funding, Series 2003, 5.10% 6/1/2033  | 102799 | 103195 |
|  |  | 142917 |
| **Massachusetts 0.07%** |  |  |
| Educational Fncg. Auth., Education Loan Rev. Bonds, Series 2024-A, 6.352% 7/1/2049  | 7500 | 7714 |
| **Texas 0.03%** |  |  |
| Grand Parkway Transportation Corp., Grand Parkway System Toll Rev. Ref. Bonds, Series 2020-B, <br>3.236% 10/1/2052  | 4075 | 2784 |
| **Wisconsin 0.04%** |  |  |
| Public Fin. Auth., Federal Lease Rev. Bonds (Fort Sam Acquisition Fncg.), Series 2022, 4.95% 3/1/2034  | 4510 | 4411 |
| **Total municipals** |  | 160265 |
| **Bonds & notes of governments & government agencies outside the U.S. 1.06%** | **Bonds & notes of governments & government agencies outside the U.S. 1.06%** | **Bonds & notes of governments & government agencies outside the U.S. 1.06%** |
| Chile (Republic of) 4.00% 1/31/2052  | 580 | 448 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **184** |

---

------

The Bond Fund of America<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Bonds & notes of governments & government agencies outside the U.S. (continued)** | **Bonds & notes of governments & government agencies outside the U.S. (continued)** | **Bonds & notes of governments & government agencies outside the U.S. (continued)** |
| Colombia (Republic of) 7.50% 2/2/2034  | USD2,530 | $2522 |
| Dominican Republic 5.95% 1/25/2027 <sup>(e)</sup>  | 8100 | 8190 |
| Dominican Republic 7.05% 2/3/2031 <sup>(e)</sup>  | 680 | 714 |
| Greece (Hellenic Republic of) 1.50% 6/18/2030  | EUR10,830 | 12114 |
| Greece (Hellenic Republic of) 0.75% 6/18/2031  | 9600 | 10071 |
| Greece (Hellenic Republic of) 4.25% 6/15/2033  | 23825 | 30443 |
| Japan 3.10% 3/20/2065  | JPY1,968,100 | 13705 |
| Japan, Series 86, 2.40% 3/20/2055  | 1908300 | 12173 |
| Paraguay (Republic of) 5.00% 4/15/2026  | USD285 | 285 |
| Poland (Republic of) 5.75% 11/16/2032  | 555 | 587 |
| Poland (Republic of) 4.875% 10/4/2033  | 830 | 826 |
| United Mexican States 6.00% 5/13/2030  | 2960 | 3067 |
| United Mexican States 6.00% 5/7/2036  | 14755 | 14599 |
| United Mexican States 6.875% 5/13/2037  | 3200 | 3345 |
| United Mexican States 7.375% 5/13/2055  | 3090 | 3197 |
|  |  | 116286 |
| **Federal agency bonds & notes 0.11%** | **Federal agency bonds & notes 0.11%** | **Federal agency bonds & notes 0.11%** |
| Fannie Mae 2.125% 4/24/2026  | 11910 | 11725 |
| **Total bonds, notes & other debt instruments** (cost: $10,550,957,000) |  | 10443759 |
| Common stocks 0.00% | Shares |  |
| **Energy 0.00%** |  |  |
| FORESEA Holding SA, Class C, nonvoting shares <sup>(e)</sup>  | 555 | 13 |
| FORESEA Holding SA, Class B <sup>(e)</sup>  | 61 | 1 |
| **Total common stocks** (cost: $9,000) |  | 14 |
| Short-term securities 6.80% |  |  |
| **Money market investments 6.80%** | **Money market investments 6.80%** | **Money market investments 6.80%** |
| Capital Group Central Cash Fund 4.35% <sup>(k)(l)</sup>  | 7457964 | 745797 |
| **Total short-term securities** (cost: $745,710,000) | **Total short-term securities** (cost: $745,710,000) | 745797 |
| **Total investment securities 102.04%** (cost: $11,296,676,000) |  | 11189570 |
| Other assets less liabilities (2.04)% |  | (224007)<br>|
| **Net assets 100.00%** |  | $10965563 |

---

**Futures contracts**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Contracts | Type | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Value and <br>unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| 30 Day Federal Funds Futures | Long | 33 | 8/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD13,156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(29)<br>|
| 30 Day Federal Funds Futures | Long | 380 | 9/2/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 151569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (11)<br>|
| 3 Month SOFR Futures | Long | 3768 | 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 901164 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (132)<br>|
| 3 Month SOFR Futures | Short | 7493 | 3/18/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1804502)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2876)<br>|
| 2 Year U.S. Treasury Note Futures | Long | 7288 | 10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1516075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3980 |
| 5 Year U.S. Treasury Note Futures | Long | 14759 | 10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1608731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16573 |
| 10 Year Euro-Bund Futures | Short | 399 | 9/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (61171)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 317 |
| 10 Year Japanese Government Bond Futures | Short | 76 | 9/22/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (73369)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (249)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **185** | American Funds Insurance Series |

---

------

The Bond Fund of America<sup>®</sup> (continued)

**Futures contracts** (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Contracts | Type | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of<br> contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration<br> date<br>| &nbsp;&nbsp;&nbsp;&nbsp; Notional<br> amount<br> &nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Value and<br> unrealized<br> appreciation<br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation)<br> at 6/30/2025<br> &nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| 10 Year U.S. Treasury Note Futures | Long | 5413 | 9/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD606,933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $11168 |
| 10 Year Ultra U.S. Treasury Note Futures | Long | 472 | 9/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 53933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 986 |
| 20 Year U.S. Treasury Bond Futures | Long | 17 | 9/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1963 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 55 |
| 30 Year Ultra U.S. Treasury Bond Futures | Long | 2688 | 9/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 320208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11557 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $41339 |

---

**Forward currency contracts**

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Contract amount | Contract amount | Contract amount | Contract amount | Counterparty | &nbsp;&nbsp; Settlement <br>date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| Currency purchased <br>(000) | Currency purchased <br>(000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Currency sold <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Currency sold <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) | Counterparty | &nbsp;&nbsp; Settlement <br>date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| EUR | 15927 | USD | 18685 | HSBC Bank | 7/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $78 |
| USD | 18048 | EUR | 15927 | BNP Paribas | 7/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (715)<br>|
| BRL | 24015 | USD | 4192 | Citibank | 7/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 212 |
| USD | 39177 | EUR | 34264 | BNP Paribas | 7/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1228)<br>|
| JPY | 7850983 | USD | 54424 | Citibank | 7/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200 |
| JPY | 1271230 | USD | 8809 | Goldman Sachs | 7/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36 |
| USD | 7336 | EUR | 6377 | Bank of America | 7/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (185)<br>|
| JPY | 3901364 | EUR | 23501 | JPMorgan Chase | 7/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (571)<br>|
| USD | 84956 | JPY | 12198797 | JPMorgan Chase | 7/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 71 |
| JPY | 1414255 | USD | 9801 | Goldman Sachs | 7/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40 |
| USD | 8718 | JPY | 1259985 | JPMorgan Chase | 7/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (49)<br>|
| USD | 11977 | JPY | 1738295 | UBS AG | 7/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (135)<br>|
| USD | 18735 | EUR | 15927 | HSBC Bank | 8/11/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (81)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(2327)<br>|

---

**Swap contracts**

------

**Interest rate swaps**

**Centrally cleared interest rate swaps** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | Receive | Pay | Pay | &nbsp;&nbsp;&nbsp; Expiration <br>date | &nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Value at <br>6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Upfront <br>premium <br>paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(received) <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| Rate | &nbsp;&nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| Rate | &nbsp;&nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| &nbsp;&nbsp;&nbsp; Expiration <br>date | &nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Value at <br>6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Upfront <br>premium <br>paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(received) <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| 4.4555% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 12/6/2025 | &nbsp;&nbsp;&nbsp;&nbsp; USD35,525 | &nbsp;&nbsp;&nbsp;&nbsp; $25 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $25 |
| SOFR | Annual | 4.186% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 2/18/2027 | &nbsp;&nbsp;&nbsp;&nbsp; USD30,500 | &nbsp;&nbsp;&nbsp;&nbsp; (287)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (287)<br>|
| SOFR | Annual | 3.39981% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 3/31/2027 | &nbsp;&nbsp;&nbsp;&nbsp; USD88,200 | &nbsp;&nbsp;&nbsp;&nbsp; 211 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 211 |
| SOFR | Annual | 3.62% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 6/30/2027 | &nbsp;&nbsp;&nbsp;&nbsp; USD40,816 | &nbsp;&nbsp;&nbsp;&nbsp; (163)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (163)<br>|
| 3.998% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 12/4/2028 | &nbsp;&nbsp;&nbsp;&nbsp; USD40,040 | &nbsp;&nbsp;&nbsp;&nbsp; 770 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 770 |
| SOFR | Annual | 3.945% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 5/31/2029 | &nbsp;&nbsp;&nbsp;&nbsp; USD20,090 | &nbsp;&nbsp;&nbsp;&nbsp; (401)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (401)<br>|
| SOFR | Annual | 3.3125% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 10/7/2029 | &nbsp;&nbsp;&nbsp;&nbsp; USD11,993 | &nbsp;&nbsp;&nbsp;&nbsp; 44 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 44 |
| SOFR | Annual | 3.4445% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 10/7/2029 | &nbsp;&nbsp;&nbsp;&nbsp; USD6,052 | &nbsp;&nbsp;&nbsp;&nbsp; (12)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (12)<br>|
| SOFR | Annual | 3.4805% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 10/7/2029 | &nbsp;&nbsp;&nbsp;&nbsp; USD6,052 | &nbsp;&nbsp;&nbsp;&nbsp; (18)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (18)<br>|
| SOFR | Annual | 3.455% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 10/7/2029 | &nbsp;&nbsp;&nbsp;&nbsp; USD12,103 | &nbsp;&nbsp;&nbsp;&nbsp; (23)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (23)<br>|
| SOFR | Annual | 3.552% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 10/7/2029 | &nbsp;&nbsp;&nbsp;&nbsp; USD4,000 | &nbsp;&nbsp;&nbsp;&nbsp; (23)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (23)<br>|
| SOFR | Annual | 3.543% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 10/7/2029 | &nbsp;&nbsp;&nbsp;&nbsp; USD6,052 | &nbsp;&nbsp;&nbsp;&nbsp; (33)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (33)<br>|
| SOFR | Annual | 3.551% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 10/7/2029 | &nbsp;&nbsp;&nbsp;&nbsp; USD12,103 | &nbsp;&nbsp;&nbsp;&nbsp; (69)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (69)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **186** |

---

------

The Bond Fund of America<sup>®</sup> (continued)

**Swap contracts** (continued)

------

**Interest rate swaps** (continued)

**Centrally cleared interest rate swaps** (continued)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | Receive | Pay | Pay | &nbsp;&nbsp;&nbsp; Expiration<br> date | &nbsp;&nbsp;&nbsp; Notional<br> amount<br> &nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Value at<br> 6/30/2025<br> &nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Upfront<br> premium<br> paid<br> &nbsp;&nbsp;&nbsp;&nbsp;(received)<br> &nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Unrealized<br> appreciation<br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation)<br> at 6/30/2025<br> &nbsp;&nbsp;&nbsp;&nbsp;(000) |
| Rate | &nbsp;&nbsp;&nbsp;&nbsp; Payment<br> frequency<br>| Rate | &nbsp;&nbsp;&nbsp;&nbsp; Payment<br> frequency<br>| &nbsp;&nbsp;&nbsp; Expiration<br> date | &nbsp;&nbsp;&nbsp; Notional<br> amount<br> &nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Value at<br> 6/30/2025<br> &nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Upfront<br> premium<br> paid<br> &nbsp;&nbsp;&nbsp;&nbsp;(received)<br> &nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Unrealized<br> appreciation<br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation)<br> at 6/30/2025<br> &nbsp;&nbsp;&nbsp;&nbsp;(000) |
| SOFR | Annual | 3.965% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 11/14/2029 | &nbsp;&nbsp;&nbsp;&nbsp; USD30,465 | &nbsp;&nbsp;&nbsp;&nbsp; $(684)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(684)<br>|
| SOFR | Annual | 3.9195% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 11/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; USD8,240 | &nbsp;&nbsp;&nbsp;&nbsp; (170)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (170)<br>|
| SOFR | Annual | 3.763% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 12/12/2029 | &nbsp;&nbsp;&nbsp;&nbsp; USD11,790 | &nbsp;&nbsp;&nbsp;&nbsp; (170)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (170)<br>|
| SOFR | Annual | 3.797% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 3/31/2030 | &nbsp;&nbsp;&nbsp;&nbsp; USD2,774 | &nbsp;&nbsp;&nbsp;&nbsp; (46)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (46)<br>|
| SOFR | Annual | 3.794% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 3/31/2030 | &nbsp;&nbsp;&nbsp;&nbsp; USD5,301 | &nbsp;&nbsp;&nbsp;&nbsp; (86)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (86)<br>|
| SOFR | Annual | 3.796% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 3/31/2030 | &nbsp;&nbsp;&nbsp;&nbsp; USD5,301 | &nbsp;&nbsp;&nbsp;&nbsp; (87)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (87)<br>|
| SOFR | Annual | 3.7815% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 3/31/2030 | &nbsp;&nbsp;&nbsp;&nbsp; USD10,484 | &nbsp;&nbsp;&nbsp;&nbsp; (165)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (165)<br>|
| SOFR | Annual | 3.6065% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 5/12/2030 | &nbsp;&nbsp;&nbsp;&nbsp; USD9,910 | &nbsp;&nbsp;&nbsp;&nbsp; (81)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (81)<br>|
| SOFR | Annual | 3.762% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 4/30/2032 | &nbsp;&nbsp;&nbsp;&nbsp; USD26,088 | &nbsp;&nbsp;&nbsp;&nbsp; (412)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (412)<br>|
| SOFR | Annual | 3.6025% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 1/8/2034 | &nbsp;&nbsp;&nbsp;&nbsp; USD16,295 | &nbsp;&nbsp;&nbsp;&nbsp; 18 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 18 |
| SOFR | Annual | 3.871% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 3/4/2034 | &nbsp;&nbsp;&nbsp;&nbsp; USD25,128 | &nbsp;&nbsp;&nbsp;&nbsp; (459)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (459)<br>|
| SOFR | Annual | 3.883% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 7/28/2045 | &nbsp;&nbsp;&nbsp;&nbsp; USD33,965 | &nbsp;&nbsp;&nbsp;&nbsp; 396 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 396 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; $(1925)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(1925)<br>|

---

**Bilateral interest rate swaps** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | Receive | Pay | Pay | Counterparty | Expiration <br>date | Notional <br>amount <br>(000) | Value at <br>6/30/2025 <br>(000) | Upfront <br>premium <br>paid <br>(received) <br>(000) | Unrealized <br>appreciation <br>(depreciation) <br>at 6/30/2025 <br>(000) |
| Rate | &nbsp;&nbsp; Payment <br>frequency<br>| Rate | &nbsp;&nbsp; Payment <br>frequency<br>| Counterparty | Expiration <br>date | Notional <br>amount <br>(000) | Value at <br>6/30/2025 <br>(000) | Upfront <br>premium <br>paid <br>(received) <br>(000) | Unrealized <br>appreciation <br>(depreciation) <br>at 6/30/2025 <br>(000) |
| 14.5956% | At maturity | BZDIOVER | At maturity | Goldman Sachs | &nbsp;&nbsp; 1/2/2029 | &nbsp;&nbsp; BRL160,970 | &nbsp;&nbsp; $1615 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1615 |
| 14.24% | At maturity | BZDIOVER | At maturity | Barclays Bank PLC | &nbsp;&nbsp; 1/2/2029 | &nbsp;&nbsp; BRL88,380 | &nbsp;&nbsp; 773 | &nbsp;&nbsp; — | &nbsp;&nbsp; 773 |
| 14.585% | At maturity | BZDIOVER | At maturity | Bank of America | &nbsp;&nbsp; 1/2/2029 | &nbsp;&nbsp; BRL19,180 | &nbsp;&nbsp; 191 | &nbsp;&nbsp; — | &nbsp;&nbsp; 191 |
| 13.31% | At maturity | BZDIOVER | At maturity | BNP Paribas | &nbsp;&nbsp; 1/2/2029 | &nbsp;&nbsp; BRL76,120 | &nbsp;&nbsp; 126 | &nbsp;&nbsp; — | &nbsp;&nbsp; 126 |
| 13.18% | At maturity | BZDIOVER | At maturity | Barclays Bank PLC | &nbsp;&nbsp; 1/2/2029 | &nbsp;&nbsp; BRL56,000 | &nbsp;&nbsp; 67 | &nbsp;&nbsp; — | &nbsp;&nbsp; 67 |
| 13.05% | At maturity | BZDIOVER | At maturity | Barclays Bank PLC | &nbsp;&nbsp; 1/2/2029 | &nbsp;&nbsp; BRL77,000 | &nbsp;&nbsp; 24 | &nbsp;&nbsp; — | &nbsp;&nbsp; 24 |
| 13.04% | At maturity | BZDIOVER | At maturity | Goldman Sachs | &nbsp;&nbsp; 1/2/2029 | &nbsp;&nbsp; BRL41,300 | &nbsp;&nbsp; 10 | &nbsp;&nbsp; — | &nbsp;&nbsp; 10 |
| 12.99% | At maturity | BZDIOVER | At maturity | Bank of America | &nbsp;&nbsp; 1/2/2029 | &nbsp;&nbsp; BRL36,820 | &nbsp;&nbsp; (5)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (5)<br>|
| 12.99% | At maturity | BZDIOVER | At maturity | Goldman Sachs | &nbsp;&nbsp; 1/2/2029 | &nbsp;&nbsp; BRL41,300 | &nbsp;&nbsp; (6)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (6)<br>|
| 12.32% | At maturity | BZDIOVER | At maturity | Goldman Sachs | &nbsp;&nbsp; 1/2/2029 | &nbsp;&nbsp; BRL25,300 | &nbsp;&nbsp; (123)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (123)<br>|
| 12.365% | At maturity | BZDIOVER | At maturity | Goldman Sachs | &nbsp;&nbsp; 1/2/2029 | &nbsp;&nbsp; BRL38,509 | &nbsp;&nbsp; (174)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (174)<br>|
| 12.36% | At maturity | BZDIOVER | At maturity | Barclays Bank PLC | &nbsp;&nbsp; 1/2/2029 | &nbsp;&nbsp; BRL38,753 | &nbsp;&nbsp; (176)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (176)<br>|
| 12.3075% | At maturity | BZDIOVER | At maturity | Goldman Sachs | &nbsp;&nbsp; 1/2/2029 | &nbsp;&nbsp; BRL38,500 | &nbsp;&nbsp; (191)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (191)<br>|
| 12.36% | At maturity | BZDIOVER | At maturity | BNP Paribas | &nbsp;&nbsp; 1/2/2029 | &nbsp;&nbsp; BRL77,020 | &nbsp;&nbsp; (351)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (351)<br>|
| 12.35% | At maturity | BZDIOVER | At maturity | Barclays Bank PLC | &nbsp;&nbsp; 1/2/2029 | &nbsp;&nbsp; BRL76,900 | &nbsp;&nbsp; (357)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (357)<br>|
| 12.303% | At maturity | BZDIOVER | At maturity | BNP Paribas | &nbsp;&nbsp; 1/2/2029 | &nbsp;&nbsp; BRL75,919 | &nbsp;&nbsp; (378)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (378)<br>|
|  |  |  |  |  |  |  | &nbsp;&nbsp; $1045 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1045 |

---

**Credit default swaps** 

**Centrally cleared credit default swaps on credit indices — buy protection** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Reference <br>index<br>| &nbsp;&nbsp;&nbsp;&nbsp; Financing <br>rate paid<br>| &nbsp;&nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| &nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Value at <br>6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Upfront <br>premium <br>paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(received) <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| CDX.NA.HY.44 | 5.00% | Quarterly | &nbsp;&nbsp;&nbsp;&nbsp; 6/20/2030 | &nbsp;&nbsp;&nbsp;&nbsp; USD94,715 | &nbsp;&nbsp;&nbsp;&nbsp; $(7109)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(4510)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(2599)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **187** | American Funds Insurance Series |

---

------

The Bond Fund of America<sup>®</sup> (continued)

**Swap contracts** (continued)

------

**Credit default swaps** (continued)

**Centrally cleared credit default swaps on credit indices — sell protection** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Reference <br>index<br>| &nbsp;&nbsp;&nbsp;&nbsp; Financing <br>rate received<br>| &nbsp;&nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| &nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <sup>(m)</sup> <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Value at <br>6/30/2025 <sup>(n)</sup> <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Upfront <br>premium <br>paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(received) <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| CDX.NA.IG.44 | 1.00% | Quarterly | &nbsp;&nbsp;&nbsp;&nbsp; 6/20/2030 | &nbsp;&nbsp;&nbsp;&nbsp; USD48,163 | &nbsp;&nbsp;&nbsp;&nbsp; $1065 | &nbsp;&nbsp;&nbsp;&nbsp; $604 | &nbsp;&nbsp;&nbsp;&nbsp; $461 |

---

**Investments in affiliates** <sup>(l)</sup>

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>1/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>6/30/2025 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Short-term securities 6.80%** |  |  |  |  |  |  |  |
| **Money market investments 6.80%** |  |  |  |  |  |  |  |
| Capital Group Central Cash Fund 4.35% <sup>(k)</sup>  | $730121 | &nbsp;&nbsp; $2295601 | &nbsp;&nbsp; $2279811 | &nbsp;&nbsp; $94 | &nbsp;&nbsp; $(208)<br>| &nbsp;&nbsp; $745797 | &nbsp;&nbsp; $16350 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Principal payments may be made periodically. Therefore, the effective maturity date may be earlier than the stated maturity date.

<sup>(b)</sup> Coupon rate may change periodically. Reference rate and spread are as of the most recent information available. Some coupon rates are determined by the issuer or agent based on current market conditions; therefore, the reference rate and spread are not available. 

<sup>(c)</sup> Amount less than one thousand.

<sup>(d)</sup> Represents securities transacted on a TBA basis.

<sup>(e)</sup> Acquired in a transaction exempt from registration under Rule 144A or, for commercial paper, Section 4(a)(2) of the Securities Act of 1933. May be resold in the U.S. in transactions exempt from registration, normally to qualified institutional buyers. The total value of all such securities was $1,833,396,000, which represented 16.72% of the net assets of the fund. 

<sup>(f)</sup> Step bond; coupon rate may change at a later date.

<sup>(g)</sup> Value determined using significant unobservable inputs.

<sup>(h)</sup> Loan participations and assignments; may be subject to legal or contractual restrictions on resale. The total value of all such loans was $7,595,000, which represented 0.07% of the net assets of the fund. 

<sup>(i)</sup> All or a portion of this security was pledged as collateral. The total value of pledged collateral was $79,661,000, which represented 0.73% of the net assets of the fund. 

<sup>(j)</sup> Index-linked bond whose principal amount moves with a government price index. 

<sup>(k)</sup> Rate represents the seven-day yield at 6/30/2025.

<sup>(l)</sup> Part of the same "group of investment companies" as the fund as defined under the Investment Company Act of 1940, as amended.

<sup>(m)</sup> The maximum potential amount the fund may pay as a protection seller should a credit event occur.

<sup>(n)</sup> The prices and resulting values for credit default swap indices serve as an indicator of the current status of the payment/performance risk. As the value of a sell protection credit default swap increases or decreases, when compared to the notional amount of the swap, the payment/performance risk may decrease or increase, respectively. 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **Key to abbreviation(s)** |
| Assn. = Association |
| Auth. = Authority |
| BRL = Brazilian reais |
| BZDIOVER = Overnight Brazilian Interbank Deposit Rate |
| CLO = Collateralized Loan Obligations |
| CME = CME Group |
| CMO = Collateralized Mortgage Obligations |
| DAC = Designated Activity Company |
| EUR = Euros |
| EURIBOR = Euro Interbank Offered Rate |
| Fin. = Finance |

---

---

| |
|:---|
| Fncg. = Financing |
| GO = General Obligation |
| ICE = Intercontinental Exchange, Inc. |
| JPY = Japanese yen |
| Ref. = Refunding |
| Rev. = Revenue |
| SOFR = Secured Overnight Financing Rate |
| TBA = To be announced |
| USD = U.S. dollars |
| UST = U.S. Treasury |

---

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **188** |

---

------

Capital World Bond Fund<sup>®</sup>

**Investment portfolio** June 30, 2025unaudited

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments 96.14% | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Euros 22.44%** |  |  |
| AIA Group, Ltd. 0.88% 9/9/2033 (5-year EUR Mid-Swap + 1.10% on 9/9/2028) <sup>(a)</sup>  | EUR2,800 | $3053 |
| Albania (Republic of) 4.75% 2/14/2035  | 2290 | 2700 |
| Alpha Bank SA 6.875% 6/27/2029 (1-year EUR-ICE Swap EURIBOR + 3.793% on 6/27/2028) <sup>(a)</sup>  | 500 | 653 |
| Alpha Bank SA 5.00% 5/12/2030 (1-year EUR-ICE Swap EURIBOR + 2.432% on 5/12/2029) <sup>(a)</sup>  | 100 | 126 |
| Alpha Bank SA 5.50% 6/11/2031 (5-year EUR Mid-Swap + 5.823% on 6/11/2026) <sup>(a)</sup>  | 680 | 813 |
| Altria Group, Inc. 3.125% 6/15/2031  | 800 | 929 |
| American Tower Corp. 0.45% 1/15/2027  | 2525 | 2887 |
| American Tower Corp. 0.875% 5/21/2029  | 1470 | 1605 |
| Anheuser-Busch InBev SA/NV 1.125% 7/1/2027  | 2000 | 2301 |
| AT&T, Inc. 1.60% 5/19/2028  | 2350 | 2699 |
| Banco de Credito Social Cooperativo, SA 4.125% 9/3/2030 (1-year EUR-ICE Swap EURIBOR + 1.70% on <br> 9/3/2029) <sup>(a)</sup>  | 1000 | 1218 |
| Banco de Sabadell, SA 5.25% 2/7/2029 (1-year EUR Mid-Swap + 2.40% on 2/7/2028) <sup>(a)</sup>  | 900 | 1126 |
| Banco de Sabadell, SA 5.50% 9/8/2029 (1-year EUR-ICE Swap EURIBOR + 2.40% on 9/8/2028) <sup>(a)</sup>  | 700 | 892 |
| Bank Gospodarstwa Krajowego 4.25% 9/13/2044  | 290 | 329 |
| Bank of America Corp. 3.648% 3/31/2029 (3-month EUR-EURIBOR + 3.67% on 3/31/2028) <sup>(a)(b)</sup>  | 5000 | 6058 |
| Banque Federative du Credit Mutuel 3.875% 6/16/2032 (5-year EUR Mid-Swap + 2.20% on 6/16/2027) <sup>(a)</sup>  | 2800 | 3353 |
| Belgium (Kingdom of), Series 100, 2.85% 10/22/2034  | 880 | 1019 |
| Belgium (Kingdom of), Series 88, 1.70% 6/22/2050  | 2730 | 2104 |
| Belgium (Kingdom of), Series 98, 3.30% 6/22/2054  | 880 | 923 |
| BPCE SA 4.50% 1/13/2033  | 1400 | 1742 |
| BPCE SA 4.875% 2/26/2036 (5-year EUR-ICE Swap EURIBOR + 2.30% on 2/26/2031) <sup>(a)</sup>  | 900 | 1115 |
| British American Tobacco PLC 3.00% junior subordinated perpetual bonds (5-year EUR Mid-Swap + <br> 3.372% on 12/27/2026) <sup>(a)</sup>  | 4980 | 5840 |
| Coca-Cola Co. 3.375% 8/15/2037  | 155 | 179 |
| Commerzbank AG 4.625% 1/17/2031 (3-month EUR-EURIBOR + 2.10% on 1/17/2030) <sup>(a)</sup>  | 1900 | 2365 |
| Croatia (Republic of) 3.25% 2/11/2037  | 1005 | 1160 |
| Deutsche Bank AG 1.75% 11/19/2030 (3-month EUR-EURIBOR + 2.05% on 11/19/2029) <sup>(a)</sup>  | 4000 | 4422 |
| Deutsche Telekom AG 3.25% 6/4/2035  | 1990 | 2316 |
| Deutsche Telekom International Finance BV 7.50% 1/24/2033  | 200 | 302 |
| Egypt (Arab Republic of) 5.625% 4/16/2030  | 300 | 327 |
| Electricite de France SA 4.25% 1/25/2032  | 1300 | 1605 |
| Electricite de France SA 4.00% 5/7/2037  | 500 | 587 |
| Electricite de France SA 2.625% junior subordinated perpetual bonds (5-year EUR Mid-Swap + 2.86% on <br> 6/1/2028) <sup>(a)</sup>  | 1400 | 1607 |
| Electricite de France SA 7.50% junior subordinated perpetual bonds (5-year EUR Mid-Swap + 4.86% on <br> 12/6/2028) <sup>(a)</sup>  | 1200 | 1558 |
| Enel Finance International NV 4.00% 2/20/2031  | 465 | 572 |
| Engie SA 3.875% 1/6/2031  | 1000 | 1226 |
| Equinix Europe 2 Financing Corp., LLC 3.25% 3/15/2031  | 1375 | 1605 |
| Equinor ASA 1.375% 5/22/2032  | 3650 | 3850 |
| Eurobank Ergasias Services and Holdings SA 10.00% 12/6/2032 (5-year EUR Mid-Swap + <br>7.588% on 12/6/2027) <sup>(a)</sup>  | 1540 | 2084 |
| Eurobank Ergasias Services and Holdings SA 6.25% 4/25/2034 (5-year EUR Mid-Swap + 3.707% on <br> 4/25/2029) <sup>(a)</sup>  | 475 | 602 |
| Eurobank SA 5.875% 11/28/2029 (1-year EUR Mid-Swap + 2.83% on 11/28/2028) <sup>(a)</sup>  | 240 | 308 |
| Eurobank SA 4.875% 4/30/2031 (5-year EUR Mid-Swap + 2.165% on 4/30/2030) <sup>(a)</sup>  | 2030 | 2543 |
| Eurobank SA 4.00% 2/7/2036 (1-year EUR-ICE Swap EURIBOR + 1.70% on 2/7/2035) <sup>(a)</sup>  | 1375 | 1592 |
| European Investment Bank 0.25% 1/20/2032  | 2075 | 2100 |
| European Investment Bank 1.50% 6/15/2032  | 1000 | 1093 |
| European Investment Bank 2.875% 1/12/2033  | 4500 | 5359 |
| European Investment Bank 2.875% 1/15/2035  | 395 | 465 |
| European Union 0.25% 10/22/2026  | 610 | 703 |
| European Union 2.875% 12/6/2027  | 1060 | 1272 |
| European Union 2.875% 10/5/2029  | 170 | 204 |
| European Union 3.125% 12/4/2030  | 190 | 231 |
| European Union 0% 7/4/2031  | 705 | 712 |
| European Union 3.25% 7/4/2034  | 380 | 458 |
| European Union 0% 7/4/2035  | 220 | 192 |
| European Union 3.75% 10/12/2045  | 425 | 502 |
| European Union 0.70% 7/6/2051  | 3000 | 1785 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **189** | American Funds Insurance Series |

---

------

Capital World Bond Fund<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Euros (continued)** |  |  |
| European Union 3.375% 10/5/2054  | EUR540 | $580 |
| Finland (Republic of) 3.00% 9/15/2033  | 2370 | 2827 |
| Ford Motor Credit Co., LLC 3.622% 7/27/2028  | 960 | 1132 |
| French Republic O.A.T. 0.75% 2/25/2028  | 980 | 1114 |
| French Republic O.A.T. 2.75% 2/25/2029  | 1790 | 2139 |
| French Republic O.A.T. 0% 11/25/2030  | 19550 | 20032 |
| French Republic O.A.T. 0% 5/25/2032  | 2120 | 2055 |
| French Republic O.A.T. 2.00% 11/25/2032  | 3170 | 3506 |
| French Republic O.A.T. 3.00% 5/25/2033  | 1920 | 2260 |
| French Republic O.A.T. 3.00% 11/25/2034  | 4430 | 5134 |
| French Republic O.A.T. 0.50% 5/25/2040  | 600 | 454 |
| French Republic O.A.T. 0.75% 5/25/2052  | 360 | 202 |
| French Republic O.A.T. 3.75% 5/25/2056  | 810 | 902 |
| Germany (Federal Republic of) 0% 10/9/2026  | 2305 | 2654 |
| Germany (Federal Republic of) 0% 11/15/2027  | 1400 | 1579 |
| Germany (Federal Republic of) 0% 2/15/2030  | 16885 | 18062 |
| Germany (Federal Republic of) 2.50% 2/15/2035  | 13725 | 16037 |
| Germany (Federal Republic of) 1.00% 5/15/2038  | 1300 | 1232 |
| Germany (Federal Republic of) 0% 8/15/2050  | 1200 | 669 |
| Greece (Hellenic Republic of) 3.875% 6/15/2028  | 615 | 758 |
| Greece (Hellenic Republic of) 1.50% 6/18/2030  | 690 | 772 |
| Greece (Hellenic Republic of) 1.75% 6/18/2032  | 1915 | 2094 |
| Greece (Hellenic Republic of) 3.90% 1/30/2033  | 3200 | 3995 |
| Greece (Hellenic Republic of) 3.375% 6/15/2034  | 5870 | 7030 |
| Greece (Hellenic Republic of) 3.625% 6/15/2035  | 4385 | 5309 |
| Greece (Hellenic Republic of) 4.125% 6/15/2054  | 640 | 752 |
| Grifols SA 7.50% 5/1/2030  | 100 | 124 |
| Hungary (Republic of), Series Y, 4.50% 6/16/2034  | 380 | 452 |
| Hungary (Republic of), Series Y, 4.875% 3/22/2040  | 305 | 352 |
| ING Groep NV 5.25% 11/14/2033 (3-month EUR-EURIBOR + 2.15% on 11/14/2032) <sup>(a)</sup>  | 1200 | 1578 |
| Ireland (Republic of) 2.60% 10/18/2034  | 1820 | 2091 |
| Ireland (Republic of) 3.00% 10/18/2043  | 1130 | 1268 |
| Ireland (Republic of) 3.15% 10/18/2055  | 755 | 828 |
| Italy (Republic of) 1.85% 7/1/2025  | 17700 | 20850 |
| Italy (Republic of) 3.10% 8/28/2026  | 3425 | 4085 |
| Italy (Republic of) 1.10% 4/1/2027  | 2565 | 2976 |
| Italy (Republic of) 1.35% 4/1/2030  | 7 | 8 |
| Italy (Republic of) 2.70% 10/1/2030  | 1365 | 1606 |
| Italy (Republic of) 4.20% 3/1/2034  | 1430 | 1806 |
| Italy (Republic of) 3.65% 8/1/2035  | 4595 | 5512 |
| Italy (Republic of) 3.85% 10/1/2040  | 2530 | 2969 |
| Italy (Republic of) 4.30% 10/1/2054  | 4245 | 5016 |
| Johnson & Johnson 3.35% 2/26/2037  | 360 | 421 |
| Lithuania (Republic of) 3.50% 7/3/2031  | 1170 | 1425 |
| Lithuania (Republic of) 3.50% 2/13/2034  | 1620 | 1941 |
| Lloyds Banking Group PLC 3.875% 5/14/2032 (1-year EUR-ICE Swap EURIBOR + 1.18% on 5/14/2031) <sup>(a)</sup>  | 100 | 121 |
| Magyar Export-Import Bank 6.00% 5/16/2029  | 1430 | 1820 |
| Metropolitan Life Global Funding I 0.55% 6/16/2027 <sup>(b)</sup>  | 2000 | 2280 |
| MFB Magyar Fejlesztesi Bank Zartkoruen Mukodo Reszvenytarsasag 4.375% 6/27/2030  | 590 | 705 |
| MPT Finance Corp. 7.00% 2/15/2032  | 100 | 121 |
| National Bank of Greece SA 8.00% 1/3/2034 (5-year EUR-ICE Swap EURIBOR + 4.646% on 1/3/2029) <sup>(a)</sup>  | 660 | 877 |
| NatWest Group PLC 0.78% 2/26/2030 (3-month EUR-EURIBOR + 0.949% on 2/26/2029) <sup>(a)</sup>  | 2725 | 2977 |
| NatWest Group PLC 1.043% 9/14/2032 (5-year EUR Mid-Swap + 1.27% on 9/14/2027) <sup>(a)</sup>  | 185 | 210 |
| PepsiCo, Inc. 0.75% 10/14/2033  | 2000 | 1939 |
| Philip Morris International, Inc. 2.75% 6/6/2029  | 770 | 901 |
| Piraeus Bank SA 6.75% 12/5/2029 (1-year EUR Mid-Swap + 3.837% on 12/5/2028) <sup>(a)</sup>  | 320 | 419 |
| Piraeus Bank SA 5.00% 4/16/2030 (1-year EUR-ICE Swap EURIBOR + 2.245% on 4/16/2029) <sup>(a)</sup>  | 730 | 912 |
| Portugal (Republic of) 0.475% 10/18/2030  | 350 | 374 |
| Portugal (Republic of) 2.875% 10/20/2034  | 1960 | 2295 |
| Portugal (Republic of) 3.00% 6/15/2035  | 2870 | 3370 |
| Portugal (Republic of) 3.50% 6/18/2038  | 3140 | 3771 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **190** |

---

------

Capital World Bond Fund<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Euros (continued)** |  |  |
| Portugal (Republic of) 3.375% 6/15/2040  | EUR715 | $832 |
| Province of Ontario 3.25% 7/3/2035  | 1120 | 1318 |
| Prysmian SpA 3.875% 11/28/2031  | 435 | 523 |
| Quebec (Province of) 0.25% 5/5/2031  | 920 | 940 |
| Quebec (Province of) 0.50% 1/25/2032  | 1155 | 1170 |
| Quebec (Province of) 3.35% 7/23/2039  | 2525 | 2911 |
| Queensland Treasury Corp. 3.25% 5/21/2035  | 360 | 424 |
| Romania 2.125% 3/7/2028  | 1440 | 1642 |
| Romania 3.75% 2/7/2034  | 530 | 534 |
| Romania 6.00% 9/24/2044  | 745 | 808 |
| Senegal (Republic of) 5.375% 6/8/2037  | 2250 | 1641 |
| Severn Trent Utilities Finance PLC 4.00% 3/5/2034  | 475 | 572 |
| Shell International Finance BV 1.50% 4/7/2028  | 2000 | 2308 |
| Slovak Republic, Series 250, 3.75% 3/6/2034  | 640 | 780 |
| Spain (Kingdom of) 0% 1/31/2028  | 900 | 1006 |
| Spain (Kingdom of) 1.40% 7/30/2028  | 7510 | 8648 |
| Spain (Kingdom of) 1.45% 4/30/2029  | 1890 | 2158 |
| Spain (Kingdom of) 1.25% 10/31/2030  | 1295 | 1427 |
| Spain (Kingdom of) 0.50% 10/31/2031  | 1247 | 1283 |
| Spain (Kingdom of) 3.15% 4/30/2033  | 3647 | 4367 |
| Spain (Kingdom of) 3.55% 10/31/2033  | 5005 | 6138 |
| Spain (Kingdom of) 3.25% 4/30/2034  | 1980 | 2367 |
| Spain (Kingdom of) 3.45% 10/31/2034  | 500 | 605 |
| Spain (Kingdom of) 3.20% 10/31/2035  | 1795 | 2109 |
| Spain (Kingdom of) 1.90% 10/31/2052  | 1010 | 788 |
| State Grid Overseas Investment (2016), Ltd. 2.125% 5/2/2030  | 200 | 230 |
| Stryker Corp. 1.00% 12/3/2031  | 450 | 465 |
| T-Mobile USA, Inc. 3.15% 2/11/2032  | 1705 | 1991 |
| Toyota Motor Credit Corp. 0.125% 11/5/2027  | 1850 | 2073 |
| Verallia SAS 3.875% 11/4/2032  | 4500 | 5287 |
| Verizon Communications, Inc. 3.50% 6/28/2032  | 1620 | 1941 |
|  |  | 330337 |
| **Japanese yen 8.79%** |  |  |
| Indonesia (Republic of), Series 20, 0.57% 5/27/2026  | JPY100,000 | 691 |
| Indonesia (Republic of), Series 31, 0.99% 5/27/2027  | 400000 | 2759 |
| Indonesia (Republic of), Series 32, 1.33% 5/25/2029  | 300000 | 2060 |
| Japan, Series 352, 0.10% 9/20/2028  | 314350 | 2134 |
| Japan, Series 356, 0.10% 9/20/2029  | 1029800 | 6907 |
| Japan, Series 116, 2.20% 3/20/2030  | 576100 | 4226 |
| Japan, Series 362, 0.10% 3/20/2031  | 514000 | 3386 |
| Japan, Series 374, 0.80% 3/20/2034  | 68200 | 454 |
| Japan, Series 152, 1.20% 3/20/2035  | 1239550 | 8430 |
| Japan, Series 21, 2.30% 12/20/2035  | 720000 | 5379 |
| Japan, Series 162, 0.60% 9/20/2037  | 1966150 | 11972 |
| Japan, Series 173, 0.40% 6/20/2040  | 270900 | 1491 |
| Japan, Series 179, 0.50% 12/20/2041  | 196950 | 1056 |
| Japan, Series 182, 1.10% 9/20/2042  | 619850 | 3629 |
| Japan, Series 186, 1.50% 9/20/2043  | 1341900 | 8257 |
| Japan, Series 188, 1.60% 3/20/2044  | 69000 | 429 |
| Japan, Series 192, 2.40% 3/20/2045  | 6359250 | 44483 |
| Japan, Series 53, 0.60% 12/20/2046  | 781600 | 3774 |
| Japan, Series 37, 0.60% 6/20/2050  | 694500 | 3043 |
| Japan, Series 73, 0.70% 12/20/2051  | 1568700 | 6765 |
| Japan, Series 74, 1.00% 3/20/2052  | 246100 | 1150 |
| Japan, Series 76, 1.40% 9/20/2052  | 5800 | 30 |
| Japan, Series 77, 1.60% 12/20/2052  | 53250 | 288 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **191** | American Funds Insurance Series |

---

------

Capital World Bond Fund<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Japanese yen (continued)** |  |  |
| Japan, Series 79, 1.20% 6/20/2053  | JPY612,200 | $2959 |
| Japan, Series 81, 1.60% 12/20/2053  | 168700 | 898 |
| Japan, Series 84, 2.10% 9/20/2054  | 455100 | 2714 |
|  |  | 129364 |
| **British pounds 4.59%** |  |  |
| Credit Agricole SA 5.375% 1/15/2029 (1-year GBP-GILT + 1.65% on 1/15/2028) <sup>(a)</sup>  | GBP800 | 1115 |
| Electricite de France SA 5.50% 3/27/2037  | 900 | 1176 |
| KfW 1.125% 7/4/2025  | 1165 | 1599 |
| Lloyds Banking Group PLC 2.707% 12/3/2035 (5-year GBP-GILT + 2.40% on 12/3/2030) <sup>(a)</sup>  | 900 | 1075 |
| Quebec (Province of) 2.25% 9/15/2026  | 1870 | 2511 |
| United Kingdom 0.125% 1/30/2026  | 425 | 573 |
| United Kingdom 4.25% 12/7/2027  | 3785 | 5269 |
| United Kingdom 1.625% 10/22/2028  | 3690 | 4746 |
| United Kingdom 4.125% 7/22/2029  | 2015 | 2792 |
| United Kingdom 4.75% 12/7/2030  | 4770 | 6821 |
| United Kingdom 0.25% 7/31/2031  | 12845 | 14143 |
| United Kingdom 1.00% 1/31/2032  | 7120 | 8046 |
| United Kingdom 4.25% 6/7/2032  | 1310 | 1814 |
| United Kingdom 3.25% 1/31/2033  | 1090 | 1400 |
| United Kingdom 0.625% 7/31/2035  | 210 | 199 |
| United Kingdom 0.875% 1/31/2046  | 4917 | 3113 |
| United Kingdom 3.75% 10/22/2053  | 1870 | 1993 |
| United Kingdom 4.375% 7/31/2054  | 5570 | 6625 |
| United Kingdom 2.50% 7/22/2065  | 3313 | 2523 |
|  |  | 67533 |
| **Brazilian reais 2.64%** |  |  |
| Brazil (Federative Republic of) 10.00% 1/1/2029  | BRL33,688 | 5692 |
| Brazil (Federative Republic of) 10.00% 1/1/2031  | 113384 | 18323 |
| Brazil (Federative Republic of) 10.00% 1/1/2035  | 58289 | 8856 |
| Brazil (Federative Republic of) 6.00% 8/15/2040 <sup>(c)</sup>  | 2126 | 355 |
| Brazil (Federative Republic of) 6.00% 8/15/2050 <sup>(c)</sup>  | 26763 | 4382 |
| Brazil (Federative Republic of) 6.00% 8/15/2060 <sup>(c)</sup>  | 7920 | 1278 |
|  |  | 38886 |
| **Canadian dollars 2.06%** |  |  |
| Canada (Government) 3.50% 3/1/2028  | CAD25,228 | 18927 |
| Canada (Government) 1.50% 12/1/2031  | 5690 | 3811 |
| Canada (Government) 3.25% 12/1/2033  | 7330 | 5412 |
| Canada (Government) 2.75% 12/1/2048  | 3500 | 2246 |
|  |  | 30396 |
| **Australian dollars 2.06%** |  |  |
| Australia (Commonwealth of), Series 157, 1.50% 6/21/2031  | AUD3,640 | 2123 |
| Australia (Commonwealth of), Series 163, 1.00% 11/21/2031  | 5789 | 3226 |
| Australia (Commonwealth of), Series 167, 3.75% 5/21/2034  | 4415 | 2841 |
| New South Wales Treasury Corp. 4.75% 2/20/2035  | 12509 | 8219 |
| New South Wales Treasury Corp. 4.75% 9/20/2035  | 3115 | 2037 |
| New South Wales Treasury Corp. 4.25% 2/20/2036  | 14861 | 9231 |
| New South Wales Treasury Corp. 5.25% 2/24/2038  | 3956 | 2621 |
|  |  | 30298 |
| **South Korean won 1.71%** |  |  |
| South Korea (Republic of), Series 2709, 3.125% 9/10/2027  | KRW4,513,500 | 3394 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **192** |

---

------

Capital World Bond Fund<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **South Korean won (continued)** |  |  |
| South Korea (Republic of), Series 2712, 2.375% 12/10/2027  | KRW5,158,930 | $3816 |
| South Korea (Republic of), Series 2803, 3.25% 3/10/2028  | 3998100 | 3021 |
| South Korea (Republic of), Series 3212, 4.25% 12/10/2032  | 18379880 | 14987 |
|  |  | 25218 |
| **Chinese yuan renminbi 1.63%** |  |  |
| China (People's Republic of), Series INBK, 2.37% 1/15/2029  | CNY6,340 | 912 |
| China (People's Republic of), Series INBK, 2.75% 2/17/2032  | 1160 | 173 |
| China (People's Republic of), Series INBK, 1.57% 5/15/2032  | 33900 | 4715 |
| China (People's Republic of), Series INBK, 2.88% 2/25/2033  | 22230 | 3381 |
| China (People's Republic of), Series INBK, 2.27% 5/25/2034  | 54910 | 8033 |
| China (People's Republic of), Series INBK, 3.53% 10/18/2051  | 800 | 148 |
| China (People's Republic of), Series INBK, 3.12% 10/25/2052  | 4740 | 826 |
| China (People's Republic of), Series INBK, 3.19% 4/15/2053  | 4720 | 835 |
| China (People's Republic of), Series INBK, 3.00% 10/15/2053  | 5150 | 894 |
| China (People's Republic of), Series INBK, 1.92% 1/15/2055  | 28690 | 4011 |
|  |  | 23928 |
| **Malaysian ringgits 1.55%** |  |  |
| Malaysia (Federation of), Series 0419, 3.828% 7/5/2034  | MYR26,902 | 6544 |
| Malaysia (Federation of), Series 0124, 4.054% 4/18/2039  | 6143 | 1517 |
| Malaysia (Federation of), Series 0519, 3.757% 5/22/2040  | 10588 | 2523 |
| Malaysia (Federation of), Series 0221, 4.417% 9/30/2041  | 2484 | 636 |
| Malaysia (Federation of), Series 0223, 4.291% 8/14/2043  | 9030 | 2283 |
| Malaysia (Federation of), Series 0224, 4.18% 5/16/2044  | 35614 | 8920 |
| Malaysia (Federation of), Series 0417, 4.895% 5/8/2047  | 1277 | 344 |
|  |  | 22767 |
| **Mexican pesos 1.12%** |  |  |
| America Movil, SAB de CV, 10.125% 1/22/2029  | MXN13,920 | 765 |
| America Movil, SAB de CV, 9.50% 1/27/2031  | 29290 | 1566 |
| United Mexican States, Series M30, 8.50% 11/18/2038  | 21100 | 1034 |
| United Mexican States, Series M, 7.75% 11/13/2042  | 83507 | 3691 |
| United Mexican States, Series M, 8.00% 11/7/2047  | 7830 | 347 |
| United Mexican States, Series M, 8.00% 7/31/2053  | 198770 | 8719 |
| United Mexican States, Series S, 4.00% 10/29/2054 <sup>(c)</sup>  | 7738 | 357 |
|  |  | 16479 |
| **Indian rupees 1.07%** |  |  |
| Asian Development Bank 6.72% 2/8/2028  | INR144,700 | 1705 |
| European Bank for Reconstruction and Development 5.25% 1/12/2027  | 81400 | 932 |
| European Bank for Reconstruction and Development 6.30% 10/26/2027  | 34000 | 396 |
| European Bank for Reconstruction and Development 6.75% 1/13/2032  | 650500 | 7668 |
| European Investment Bank 6.95% 3/1/2029  | 46200 | 546 |
| European Investment Bank 7.40% 10/23/2033  | 155800 | 1915 |
| Inter-American Development Bank 7.00% 1/25/2029  | 18000 | 213 |
| International Bank for Reconstruction and Development 6.75% 9/8/2027  | 126400 | 1484 |
| Korea Development Bank 6.75% 7/1/2030  | 73000 | 844 |
|  |  | 15703 |
| **Indonesian rupiah 0.66%** |  |  |
| Indonesia (Republic of), Series 84, 7.25% 2/15/2026  | IDR22,733,000 | 1410 |
| Indonesia (Republic of), Series 64, 6.125% 5/15/2028  | 1556000 | 96 |
| Indonesia (Republic of), Series 95, 6.375% 8/15/2028  | 63512000 | 3932 |
| Indonesia (Republic of), Series 71, 9.00% 3/15/2029  | 26010000 | 1748 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **193** | American Funds Insurance Series |

---

------

Capital World Bond Fund<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Indonesian rupiah (continued)** |  |  |
| Indonesia (Republic of), Series 82, 7.00% 9/15/2030  | IDR2,930,000 | $186 |
| Indonesia (Republic of), Series FR100, 6.625% 2/15/2034  | 29412000 | 1810 |
| Indonesia (Republic of), Series 68, 8.375% 3/15/2034  | 6937000 | 475 |
|  |  | 9657 |
| **Norwegian kroner 0.45%** |  |  |
| Norway (Kingdom of) 1.75% 9/6/2029  | NOK2,080 | 192 |
| Norway (Kingdom of) 2.125% 5/18/2032  | 6615 | 593 |
| Norway (Kingdom of) 3.75% 6/12/2035  | 59865 | 5913 |
|  |  | 6698 |
| **South African rand 0.45%** |  |  |
| South Africa (Republic of), Series R-2030, 8.00% 1/31/2030  | ZAR8,400 | 467 |
| South Africa (Republic of), Series R-2032, 8.25% 3/31/2032  | 114250 | 6170 |
|  |  | 6637 |
| **Danish kroner 0.44%** |  |  |
| Nykredit Realkredit AS, Series 01E, 0.50% 10/1/2043 <sup>(d)</sup>  | DKK48,108 | 6238 |
| Realkredit Danmark AS 1.00% 10/1/2053 <sup>(d)</sup>  | 2503 | 308 |
|  |  | 6546 |
| **Polish zloty 0.27%** |  |  |
| Poland (Republic of), Series 1029, 2.75% 10/25/2029  | PLN4,900 | 1255 |
| Poland (Republic of), Series 1033, 6.00% 10/25/2033  | 9280 | 2685 |
|  |  | 3940 |
| **Chilean pesos 0.19%** |  |  |
| Chile (Republic of) 1.50% 3/1/2026 <sup>(c)</sup>  | CLP903,263 | 971 |
| Chile (Republic of) 5.00% 10/1/2028  | 955000 | 1025 |
| Chile (Republic of) 6.00% 4/1/2033  | 675000 | 743 |
|  |  | 2739 |
| **Turkish lira 0.13%** |  |  |
| Turkey (Republic of), Series 5Y, 12.60% 10/1/2025  | TRY73,785 | 1738 |
| Turkey (Republic of) 17.80% 7/13/2033  | 12175 | 204 |
|  |  | 1942 |
| **Colombian pesos 0.07%** |  |  |
| Colombia (Republic of), Series B, 7.25% 10/26/2050  | COP7,150,600 | 1052 |
| **Czech korunas 0.06%** |  |  |
| Czech Republic 6.00% 2/26/2026  | CZK17,550 | 851 |
| **U.S. dollars 43.76%** |  |  |
| 1261229 B.C., Ltd. 10.00% 4/15/2032 <sup>(e)</sup>  | USD200 | 202 |
| AAR Escrow Issuer, LLC 6.75% 3/15/2029 <sup>(e)</sup>  | 27 | 28 |
| AbbVie, Inc. 5.05% 3/15/2034  | 2790 | 2842 |
| AbbVie, Inc. 5.35% 3/15/2044  | 75 | 74 |
| AbbVie, Inc. 5.40% 3/15/2054  | 1265 | 1231 |
| AbbVie, Inc. 5.50% 3/15/2064  | 150 | 146 |
| Abu Dhabi Crude Oil Pipeline, LLC 4.60% 11/2/2047  | 775 | 694 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **194** |

---

------

Capital World Bond Fund<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **U.S. dollars (continued)** |  |  |
| ACHV ABS Trust, Series 2024-3AL, Class C, 5.68% 12/26/2031 <sup>(d)(e)</sup>  | USD102 | $102 |
| Adnoc Murban Rsc, Ltd. 4.50% 9/11/2034 <sup>(e)</sup>  | 1345 | 1315 |
| Advance Auto Parts, Inc. 5.95% 3/9/2028  | 45 | 46 |
| AerCap Ireland Capital DAC 2.45% 10/29/2026  | 2102 | 2049 |
| Aero Capital Solutions, Inc., Term Loan, (1-month USD CME Term SOFR + 3.00%) <br>7.61% 11/17/2029 <sup>(e)(f)(g)(h)</sup>  | 528 | 524 |
| Aeropuerto Internacional de Tocumen, SA 5.125% 8/11/2061 <sup>(e)</sup>  | 660 | 465 |
| AG Issuer, LLC 6.25% 3/1/2028 <sup>(e)</sup>  | 165 | 165 |
| AG TTMT Escrow Issuer, LLC 8.625% 9/30/2027 <sup>(e)</sup>  | 68 | 70 |
| AIB Group PLC 6.608% 9/13/2029 (USD-SOFR + 2.33% on 9/13/2028) <sup>(a)(e)</sup>  | 1147 | 1214 |
| AIB Group PLC 5.871% 3/28/2035 (USD-SOFR + 1.91% on 3/28/2034) <sup>(a)(e)</sup>  | 2985 | 3080 |
| Albertsons Cos., Inc. 3.50% 3/15/2029 <sup>(e)</sup>  | 140 | 133 |
| Albion Financing 1 SARL 7.00% 5/21/2030 <sup>(e)</sup>  | 200 | 205 |
| Alcoa Nederland Holding BV 4.125% 3/31/2029 <sup>(e)</sup>  | 75 | 72 |
| Alera Group Intermediate Holdings, Inc., Term Loan B, (3-month USD CME Term SOFR + 5.50%) 9.824% <br>5/15/2033 <sup>(g)(h)</sup>  | 65 | 66 |
| Allegro CLO, Ltd., Series 2019-1, Class ARR, (3-month USD CME Term SOFR + 1.13%) 5.399% <br> 4/20/2032 <sup>(d)(e)(h)</sup>  | 553 | 553 |
| Alliance Resource Operating Partners, LP 8.625% 6/15/2029 <sup>(e)</sup>  | 50 | 53 |
| Alliant Holdings Intermediate, LLC 6.75% 10/15/2027 <sup>(e)</sup>  | 290 | 290 |
| Alliant Holdings Intermediate, LLC 5.875% 11/1/2029 <sup>(e)</sup>  | 120 | 118 |
| Alliant Holdings Intermediate, LLC 7.00% 1/15/2031 <sup>(e)</sup>  | 180 | 186 |
| Alliant Holdings Intermediate, LLC 6.50% 10/1/2031 <sup>(e)</sup>  | 65 | 66 |
| Alliant Holdings Intermediate, LLC 7.375% 10/1/2032 <sup>(e)</sup>  | 70 | 72 |
| Allied Universal Holdco, LLC 6.00% 6/1/2029 <sup>(e)</sup>  | 300 | 292 |
| Allwyn Entertainment Financing (UK) PLC 7.875% 4/30/2029 <sup>(e)</sup>  | 200 | 209 |
| Amazon.com, Inc. 1.50% 6/3/2030  | 2040 | 1805 |
| Amentum Holdings, Inc. 7.25% 8/1/2032 <sup>(e)</sup>  | 98 | 101 |
| Amer Sports Co. 6.75% 2/16/2031 <sup>(e)</sup>  | 35 | 36 |
| American Electric Power Co., Inc. 1.00% 11/1/2025  | 250 | 247 |
| American Express Co. 5.532% 4/25/2030 (USD-SOFR + 1.09% on 4/25/2029) <sup>(a)</sup>  | 1030 | 1071 |
| Amgen, Inc. 2.20% 2/21/2027  | 445 | 431 |
| Amgen, Inc. 5.25% 3/2/2030  | 981 | 1011 |
| Amgen, Inc. 5.25% 3/2/2033  | 2687 | 2752 |
| Amgen, Inc. 5.65% 3/2/2053  | 1284 | 1255 |
| AmWINS Group, Inc. 4.875% 6/30/2029 <sup>(e)</sup>  | 135 | 131 |
| Angola (Republic of) 9.50% 11/12/2025  | 4225 | 4245 |
| Anywhere Real Estate Group, LLC 5.75% 1/15/2029 <sup>(e)</sup>  | 110 | 97 |
| Anywhere Real Estate Group, LLC 5.25% 4/15/2030 <sup>(e)</sup>  | 115 | 94 |
| AP Core Holdings II, LLC, Term Loan B, (3-month USD CME Term SOFR + 5.50%) 9.941% 9/1/2027 <sup>(g)(h)</sup>  | 95 | 86 |
| Apollo Aviation Securitization Equity Trust, Series 2025-2A, Class A, 5.522% 2/16/2050 <sup>(d)(e)</sup>  | 994 | 1006 |
| Apollo Aviation Securitization Equity Trust, Series 25-1A, Class A, 5.943% 2/16/2050 <sup>(d)(e)</sup>  | 559 | 570 |
| Apple Bidco, LLC, Term Loan, (3-month USD CME Term SOFR + 2.50%) 6.827% 9/23/2031 <sup>(g)(h)</sup>  | 145 | 145 |
| Aramark Services, Inc. 5.00% 2/1/2028 <sup>(e)</sup>  | 110 | 110 |
| Aretec Group, Inc. 7.50% 4/1/2029 <sup>(e)</sup>  | 245 | 248 |
| Aretec Group, Inc. 10.00% 8/15/2030 <sup>(e)</sup>  | 50 | 55 |
| Artera Services, LLC 8.50% 2/15/2031 <sup>(e)</sup>  | 45 | 38 |
| Asbury Automotive Group, Inc. 5.00% 2/15/2032 <sup>(e)</sup>  | 55 | 52 |
| Ascent Resources Utica Holdings, LLC 5.875% 6/30/2029 <sup>(e)</sup>  | 55 | 55 |
| Ascent Resources Utica Holdings, LLC 6.625% 10/15/2032 <sup>(e)</sup>  | 25 | 25 |
| Ascent Resources Utica Holdings, LLC 6.625% 7/15/2033 <sup>(e)</sup>  | 15 | 15 |
| AssuredPartners, Inc. 5.625% 1/15/2029 <sup>(e)</sup>  | 190 | 190 |
| AssuredPartners, Inc., Term Loan, (3-month USD CME Term SOFR + 3.50%) 7.827% 2/14/2031 <sup>(g)(h)</sup>  | 30 | 30 |
| AT&T, Inc. 3.50% 9/15/2053  | 2070 | 1402 |
| ATI, Inc. 7.25% 8/15/2030  | 60 | 63 |
| Atkore, Inc. 4.25% 6/1/2031 <sup>(e)</sup>  | 25 | 23 |
| Avantor Funding, Inc. 3.875% 11/1/2029 <sup>(e)</sup>  | 122 | 116 |
| Avient Corp. 6.25% 11/1/2031 <sup>(e)</sup>  | 25 | 25 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-2, Class A, 5.20% 10/20/2027 <sup>(d)(e)</sup>  | 1817 | 1831 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-6, Class A, 5.81% 12/20/2029 <sup>(d)(e)</sup>  | 996 | 1036 |
| B&G Foods, Inc. 5.25% 9/15/2027  | 210 | 191 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **195** | American Funds Insurance Series |

---

------

Capital World Bond Fund<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **U.S. dollars (continued)** |  |  |
| B&G Foods, Inc. 8.00% 9/15/2028 <sup>(e)</sup>  | USD25 | $24 |
| BAE Systems PLC 5.30% 3/26/2034 <sup>(e)</sup>  | 865 | 885 |
| Baldwin Insurance Group Holdings, LLC 7.125% 5/15/2031 <sup>(e)</sup>  | 20 | 21 |
| Bank Commercial Mortgage Trust, Series 2023-5YR4, Class AS, 7.274% 12/15/2056 <sup>(d)(h)</sup>  | 219 | 235 |
| Bank Gospodarstwa Krajowego 5.75% 7/9/2034 <sup>(e)</sup>  | 950 | 979 |
| Bank Gospodarstwa Krajowego 6.25% 7/9/2054 <sup>(e)</sup>  | 425 | 423 |
| Bank of America Corp. 2.299% 7/21/2032 (USD-SOFR + 1.22% on 7/21/2031) <sup>(a)</sup>  | 4040 | 3522 |
| Bank of America Corp. 5.511% 1/24/2036 (USD-SOFR + 1.31% on 1/24/2035) <sup>(a)</sup>  | 1535 | 1579 |
| Bank of East Asia, Ltd. 5.825% junior subordinated perpetual bonds (5-year UST Yield Curve Rate T <br> Note Constant Maturity + 5.527% on 10/21/2025) <sup>(a)</sup>  | 640 | 639 |
| BAT Capital Corp. 3.215% 9/6/2026  | 955 | 942 |
| BAT Capital Corp. 5.625% 8/15/2035  | 5501 | 5600 |
| Bath & Body Works, Inc. 6.625% 10/1/2030 <sup>(e)</sup>  | 120 | 124 |
| Bath & Body Works, Inc. 6.875% 11/1/2035  | 75 | 78 |
| Bausch Health Americas, Inc. 9.25% 4/1/2026 <sup>(e)</sup>  | 80 | 80 |
| Baytex Energy Corp. 7.375% 3/15/2032 <sup>(e)</sup>  | 85 | 81 |
| BBVA Bancomer SA 8.45% 6/29/2038 (5-year UST Yield Curve Rate T Note Constant Maturity + 4.661% on <br> 6/29/2033) <sup>(a)</sup>  | 1360 | 1439 |
| Becton, Dickinson and Co. 4.298% 8/22/2032  | 320 | 311 |
| Biocon Biologics Global PLC 6.67% 10/9/2029 <sup>(e)</sup>  | 2595 | 2467 |
| BIP-V Chinook Holdco, LLC 5.50% 6/15/2031 <sup>(e)</sup>  | 400 | 395 |
| Block, Inc. 6.50% 5/15/2032  | 240 | 248 |
| BMO Mortgage Trust, Series 2024-5C8, Class AS, 5.94% 12/15/2057 <sup>(d)(h)</sup>  | 1070 | 1112 |
| BMW US Capital, LLC 4.15% 4/9/2030 <sup>(e)</sup>  | 900 | 885 |
| BNP Paribas SA 2.159% 9/15/2029 (USD-SOFR + 1.218% on 9/15/2028) <sup>(a)(e)</sup>  | 700 | 649 |
| BNP Paribas SA 2.871% 4/19/2032 (USD-SOFR + 1.387% on 4/19/2031) <sup>(a)(e)</sup>  | 1275 | 1143 |
| Boeing Co. (The) 6.259% 5/1/2027  | 45 | 46 |
| Boeing Co. (The) 5.15% 5/1/2030  | 2451 | 2496 |
| Boeing Co. (The) 3.625% 2/1/2031  | 718 | 677 |
| Boeing Co. (The) 6.388% 5/1/2031  | 723 | 777 |
| Boeing Co. (The) 6.528% 5/1/2034  | 457 | 497 |
| Boeing Co. (The) 5.805% 5/1/2050  | 50 | 48 |
| Boeing Co. (The) 6.858% 5/1/2054  | 526 | 576 |
| Bombardier, Inc. 7.125% 6/15/2026 <sup>(e)</sup>  | 16 | 16 |
| Boost Newco Borrower, LLC 7.50% 1/15/2031 <sup>(e)</sup>  | 25 | 27 |
| Borr IHC, Ltd. 10.00% 11/15/2028 <sup>(e)</sup>  | 289 | 264 |
| Boyd Gaming Corp. 4.75% 6/15/2031 <sup>(e)</sup>  | 45 | 43 |
| Boyne USA, Inc. 4.75% 5/15/2029 <sup>(e)</sup>  | 107 | 104 |
| BPCE SA 6.293% 1/14/2036 (USD-SOFR + 2.04% on 1/14/2035) <sup>(a)(e)</sup>  | 3520 | 3698 |
| Braskem Netherlands Finance BV 4.50% 1/31/2030  | 1756 | 1362 |
| Braskem Netherlands Finance BV 8.50% 1/12/2031  | 2129 | 1863 |
| Braskem Netherlands Finance BV 8.50% 1/12/2031 <sup>(e)</sup>  | 525 | 459 |
| BRAVO Residential Funding Trust, Series 2025-NQM5, Class A1, 5.496% 2/25/2065 (6.496% on <br>5/1/2027) <sup>(a)(d)(e)</sup>  | 1599 | 1609 |
| Bristol-Myers Squibb Co. 5.20% 2/22/2034  | 1925 | 1972 |
| Bristol-Myers Squibb Co. 5.55% 2/22/2054  | 2200 | 2148 |
| British Columbia (Province of) 4.20% 7/6/2033  | 70 | 68 |
| Broadcom, Inc. 4.00% 4/15/2029 <sup>(e)</sup>  | 250 | 247 |
| Broadcom, Inc. 3.469% 4/15/2034 <sup>(e)</sup>  | 746 | 667 |
| Broadcom, Inc. 3.137% 11/15/2035 <sup>(e)</sup>  | 185 | 156 |
| Brookfield Property REIT, Inc. 5.75% 5/15/2026 <sup>(e)</sup>  | 63 | 63 |
| Brown & Brown, Inc. 5.25% 6/23/2032  | 28 | 29 |
| Brown & Brown, Inc. 6.25% 6/23/2055  | 48 | 50 |
| Buffalo Energy Mexico Holdings 7.875% 2/15/2039 <sup>(e)</sup>  | 1341 | 1383 |
| Burlington Northern Santa Fe, LLC 5.50% 3/15/2055  | 232 | 230 |
| BWX Technologies, Inc. 4.125% 4/15/2029 <sup>(e)</sup>  | 175 | 169 |
| BX Trust, Series 2021-VOLT, Class A, (1-month USD CME Term SOFR + 0.814%) 5.126% 9/15/2036 <sup>(d)(e)(h)</sup>  | 1269 | 1266 |
| BX Trust, Series 2025-BIO3, Class A, 6.138% 2/10/2042 <sup>(d)(e)</sup>  | 1724 | 1772 |
| Caesars Entertainment, Inc. 4.625% 10/15/2029 <sup>(e)</sup>  | 15 | 14 |
| Caesars Entertainment, Inc. 7.00% 2/15/2030 <sup>(e)</sup>  | 64 | 66 |
| Caesars Entertainment, Inc. 6.50% 2/15/2032 <sup>(e)</sup>  | 45 | 46 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **196** |

---

------

Capital World Bond Fund<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **U.S. dollars (continued)** |  |  |
| CaixaBank, SA 5.673% 3/15/2030 (USD-SOFR + 1.78% on 3/15/2029) <sup>(a)(e)</sup>  | USD1,633 | $1689 |
| CaixaBank, SA 6.84% 9/13/2034 (USD-SOFR + 2.77% on 9/13/2033) <sup>(a)(e)</sup>  | 200 | 220 |
| CaixaBank, SA 6.037% 6/15/2035 (USD-SOFR + 2.26% on 9/15/2034) <sup>(a)(e)</sup>  | 200 | 209 |
| California Resources Corp. 7.125% 2/1/2026 <sup>(e)</sup>  | 50 | 50 |
| Canadian Pacific Railway Co. 3.00% 12/2/2041  | 349 | 254 |
| Canadian Pacific Railway Co. 3.10% 12/2/2051  | 1085 | 714 |
| CAN-PACK Spolka Akcyjna 3.875% 11/15/2029 <sup>(e)</sup>  | 90 | 84 |
| Carnival Corp. 6.00% 5/1/2029 <sup>(e)</sup>  | 100 | 101 |
| Cascade Funding Mortgage Trust, Series 2024-NR1, Class A1, 6.405% 11/25/2029 <br>(9.405% on 11/25/2027) <sup>(a)(d)(e)</sup>  | 163 | 164 |
| Cascade Funding Mortgage Trust, Series 2024-HB15, Class M1, 4.00% 8/25/2034 <sup>(d)(e)(h)</sup>  | 614 | 596 |
| Cascade Funding Mortgage Trust, Series 2024-HB15, Class A, 4.00% 8/25/2034 <sup>(d)(e)(h)</sup>  | 111 | 110 |
| Castlelake Aircraft Securitization Trust, Series 2025-1A, Class A, 5.783% 2/15/2050 <sup>(d)(e)</sup>  | 834 | 847 |
| CCO Holdings, LLC 5.125% 5/1/2027 <sup>(e)</sup>  | 125 | 125 |
| CCO Holdings, LLC 4.75% 3/1/2030 <sup>(e)</sup>  | 135 | 131 |
| CCO Holdings, LLC 4.50% 8/15/2030 <sup>(e)</sup>  | 240 | 229 |
| CCO Holdings, LLC 4.25% 2/1/2031 <sup>(e)</sup>  | 155 | 145 |
| CCO Holdings, LLC 4.50% 6/1/2033 <sup>(e)</sup>  | 147 | 134 |
| CCO Holdings, LLC 4.25% 1/15/2034 <sup>(e)</sup>  | 55 | 49 |
| Centene Corp. 2.45% 7/15/2028  | 40 | 37 |
| Centene Corp. 4.625% 12/15/2029  | 35 | 34 |
| Centene Corp. 2.50% 3/1/2031  | 65 | 56 |
| Central Garden & Pet Co. 4.125% 10/15/2030  | 74 | 70 |
| Central Garden & Pet Co. 4.125% 4/30/2031 <sup>(e)</sup>  | 110 | 102 |
| Charter Communications Operating, LLC 3.75% 2/15/2028  | 2650 | 2601 |
| Charter Communications Operating, LLC 4.80% 3/1/2050  | 384 | 307 |
| Charter Communications Operating, LLC 3.70% 4/1/2051  | 188 | 125 |
| Charter Communications Operating, LLC 3.90% 6/1/2052  | 458 | 315 |
| Charter Communications Operating, LLC 5.25% 4/1/2053  | 17 | 14 |
| Cheniere Energy Partners, LP 3.25% 1/31/2032  | 26 | 23 |
| China Oil and Gas Group, Ltd. 4.70% 6/30/2026  | 1130 | 1110 |
| Chubb INA Holdings, LLC 3.35% 5/3/2026  | 195 | 194 |
| Chubb INA Holdings, LLC 4.35% 11/3/2045  | 425 | 368 |
| Cisco Systems, Inc. 5.10% 2/24/2035  | 990 | 1014 |
| Citigroup Commercial Mortgage Trust, Series 2023-PRM3, Class A, 6.36% 7/10/2028 <sup>(d)(e)(h)</sup>  | 805 | 843 |
| Citigroup Commercial Mortgage Trust, Series 2023-SMRT, Class A, 6.015% 10/12/2040 <sup>(d)(e)(h)</sup>  | 1240 | 1282 |
| Citizens Financial Group, Inc. 5.718% 7/23/2032 (USD-SOFR + 1.91% on 7/23/2031) <sup>(a)</sup>  | 421 | 436 |
| Civitas Resources, Inc. 8.75% 7/1/2031 <sup>(e)</sup>  | 90 | 91 |
| Civitas Resources, Inc. 9.625% 6/15/2033 <sup>(e)</sup>  | 15 | 15 |
| Clarios Global, LP 8.50% 5/15/2027 <sup>(e)</sup>  | 90 | 91 |
| Clarivate Science Holdings Corp. 3.875% 7/1/2028 <sup>(e)</sup>  | 45 | 43 |
| Clarivate Science Holdings Corp. 4.875% 7/1/2029 <sup>(e)</sup>  | 5 | 5 |
| Cleveland-Cliffs, Inc. 6.875% 11/1/2029 <sup>(e)</sup>  | 100 | 99 |
| Cleveland-Cliffs, Inc. 4.875% 3/1/2031 <sup>(e)</sup>  | 75 | 64 |
| Cloud Software Group, Inc. 6.50% 3/31/2029 <sup>(e)</sup>  | 235 | 237 |
| Cloud Software Group, Inc. 9.00% 9/30/2029 <sup>(e)</sup>  | 175 | 182 |
| Cloud Software Group, Inc., Term Loan B1, (3-month USD CME Term SOFR + 3.50%) 7.796% <br>3/29/2029 <sup>(g)(h)</sup>  | 252 | 252 |
| CMS Energy Corp. 3.00% 5/15/2026  | 1200 | 1185 |
| CNX Resources Corp. 7.25% 3/1/2032 <sup>(e)</sup>  | 110 | 114 |
| Coca-Cola Co. 4.65% 8/14/2034  | 336 | 338 |
| Coinbase Global, Inc. 3.375% 10/1/2028 <sup>(e)</sup>  | 55 | 52 |
| Coinbase Global, Inc. 3.625% 10/1/2031 <sup>(e)</sup>  | 85 | 76 |
| Colombia (Republic of) 3.875% 4/25/2027  | 350 | 343 |
| Colombia (Republic of) 3.125% 4/15/2031  | 3000 | 2471 |
| Colombia (Republic of) 8.00% 11/14/2035  | 445 | 448 |
| Comcast Corp. 4.80% 5/15/2033  | 4100 | 4093 |
| Compass Group Diversified Holdings, LLC 5.25% 4/15/2029 <sup>(e)</sup>  | 192 | 173 |
| Compass Group Diversified Holdings, LLC 5.00% 1/15/2032 <sup>(e)</sup>  | 65 | 55 |
| Comstock Resources, Inc. 5.875% 1/15/2030 <sup>(e)</sup>  | 65 | 63 |
| Connect Finco SARL 9.00% 9/15/2029 <sup>(e)</sup>  | 200 | 201 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **197** | American Funds Insurance Series |

---

------

Capital World Bond Fund<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **U.S. dollars (continued)** |  |  |
| Connecticut Avenue Securities Trust, Series 2023-R04, Class 1M1, (30-day Average USD-SOFR + 2.30%) <br>6.605% 5/25/2043 <sup>(d)(e)(h)</sup>  | USD1,208 | $1234 |
| Connecticut Avenue Securities Trust, Series 2023-R04, Class 1M2, (30-day Average USD-SOFR + 3.55%) <br> 7.855% 5/25/2043 <sup>(d)(e)(h)</sup>  | 804 | 850 |
| Connecticut Avenue Securities Trust, Series 2023-R05, Class 1M1, (30-day Average USD-SOFR + 1.90%) <br> 6.205% 6/25/2043 <sup>(d)(e)(h)</sup>  | 658 | 665 |
| Connecticut Avenue Securities Trust, Series 2023-R05, Class 1M2, (30-day Average USD-SOFR + 3.10%) <br> 7.405% 6/25/2043 <sup>(d)(e)(h)</sup>  | 305 | 319 |
| Connecticut Avenue Securities Trust, Series 2023-R06, Class 1M1, (30-day Average USD-SOFR + 1.70%) <br> 6.005% 7/25/2043 <sup>(d)(e)(h)</sup>  | 461 | 464 |
| Connecticut Avenue Securities Trust, Series 2024-R01, Class 1M2, (30-day Average USD-SOFR + 1.80%) <br> 6.105% 1/25/2044 <sup>(d)(e)(h)</sup>  | 206 | 208 |
| Connecticut Avenue Securities Trust, Series 2024-R04, Class 1M2, (30-day Average USD-SOFR + 1.65%) <br> 5.955% 5/25/2044 <sup>(d)(e)(h)</sup>  | 1148 | 1156 |
| Connecticut Avenue Securities Trust, Series 2025-R02, Class 1A1, (30-day Average USD-SOFR + 1.00%) <br> 5.305% 2/25/2045 <sup>(d)(e)(h)</sup>  | 259 | 259 |
| Connecticut Avenue Securities Trust, Series 2025-R02, Class 1M1, (30-day Average USD-SOFR + 1.15%) <br> 5.455% 2/25/2045 <sup>(d)(e)(h)</sup>  | 671 | 671 |
| ConocoPhillips Co. 5.50% 1/15/2055  | 3050 | 2897 |
| Constellation Oil Services Holding SA 9.375% 11/7/2029 <sup>(e)</sup>  | 200 | 204 |
| Constellium SE 3.75% 4/15/2029 <sup>(e)</sup>  | 125 | 118 |
| COPT Defense Properties, LP 2.75% 4/15/2031  | 1212 | 1073 |
| Corebridge Financial, Inc. 3.90% 4/5/2032  | 748 | 703 |
| CoreLogic, Inc. 4.50% 5/1/2028 <sup>(e)</sup>  | 384 | 367 |
| CoreLogic, Inc., Term Loan, (3-month USD CME Term SOFR + 6.50%) 10.941% 6/4/2029 <sup>(g)(h)</sup>  | 65 | 63 |
| CoreWeave, Inc. 9.25% 6/1/2030 <sup>(e)</sup>  | 50 | 51 |
| Coronado Finance Pty, Ltd. 9.25% 10/1/2029 <sup>(e)</sup>  | 125 | 93 |
| Coty, Inc. 5.00% 4/15/2026 <sup>(e)</sup>  | 36 | 36 |
| Coty, Inc. 4.75% 1/15/2029 <sup>(e)</sup>  | 65 | 64 |
| Coty, Inc. 6.625% 7/15/2030 <sup>(e)</sup>  | 95 | 97 |
| Cougar JV Subsidiary, LLC 8.00% 5/15/2032 <sup>(e)</sup>  | 65 | 69 |
| Crescent Energy Finance, LLC 9.25% 2/15/2028 <sup>(e)</sup>  | 178 | 186 |
| Crescent Energy Finance, LLC 7.625% 4/1/2032 <sup>(e)</sup>  | 165 | 161 |
| Crown Castle, Inc. 2.50% 7/15/2031  | 767 | 670 |
| CSX Corp. 3.80% 4/15/2050  | 75 | 57 |
| CVR Partners, LP 6.125% 6/15/2028 <sup>(e)</sup>  | 65 | 65 |
| Darling Ingredients, Inc. 6.00% 6/15/2030 <sup>(e)</sup>  | 10 | 10 |
| DaVita, Inc. 6.75% 7/15/2033 <sup>(e)</sup>  | 40 | 41 |
| Deluxe Corp. 8.00% 6/1/2029 <sup>(e)</sup>  | 20 | 19 |
| Deutsche Bank AG 2.129% 11/24/2026 (USD-SOFR + 1.87% on 11/24/2025) <sup>(a)</sup>  | 850 | 841 |
| Deutsche Bank AG 2.311% 11/16/2027 (USD-SOFR + 1.219% on 11/16/2026) <sup>(a)</sup>  | 1160 | 1126 |
| Deutsche Telekom International Finance BV 9.25% 6/1/2032  | 930 | 1161 |
| Diamond Sports Net, LLC, Term Loan, 15.00% PIK 1/2/2028 <sup>(g)(i)</sup>  | 8 | 7 |
| Diebold Nixdorf, Inc. 7.75% 3/31/2030 <sup>(e)</sup>  | 125 | 133 |
| DIRECTV Financing, LLC 5.875% 8/15/2027 <sup>(e)</sup>  | 50 | 50 |
| DIRECTV Financing, LLC, Term Loan, (3-month USD CME Term SOFR + 5.00%) 9.541% 8/2/2027 <sup>(g)(h)</sup>  | 13 | 13 |
| DISH Network Corp. 11.75% 11/15/2027 <sup>(e)</sup>  | 296 | 305 |
| Dun & Bradstreet Corp. (The) 5.00% 12/15/2029 <sup>(e)</sup>  | 23 | 24 |
| EchoStar Corp. 10.75% 11/30/2029  | 30 | 31 |
| Edison International 5.25% 11/15/2028  | 1862 | 1844 |
| Edison International 5.45% 6/15/2029  | 75 | 74 |
| Edison International 6.95% 11/15/2029  | 350 | 364 |
| Edison International 6.25% 3/15/2030  | 1510 | 1534 |
| Edison International 5.25% 3/15/2032  | 705 | 669 |
| Edison International 5.00% junior subordinated perpetual bonds (5-year UST Yield Curve Rate T <br> Note Constant Maturity + 3.901% on 3/15/2027) <sup>(a)</sup>  | 100 | 87 |
| Egypt (Arab Republic of) 6.588% 2/21/2028  | 1550 | 1553 |
| Egypt (Arab Republic of) 9.45% 2/4/2033 <sup>(e)</sup>  | 460 | 466 |
| Electricite de France SA 5.65% 4/22/2029 <sup>(e)</sup>  | 800 | 830 |
| Electricite de France SA 9.125% junior subordinated perpetual bonds (5-year UST Yield Curve Rate T <br> Note Constant Maturity + 5.411% on 6/15/2033) <sup>(a)(e)</sup>  | 300 | 339 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **198** |

---

------

Capital World Bond Fund<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **U.S. dollars (continued)** |  |  |
| Element Solutions, Inc. 3.875% 9/1/2028 <sup>(e)</sup>  | USD105 | $102 |
| Ellucian Holdings, Inc. 6.50% 12/1/2029 <sup>(e)</sup>  | 25 | 26 |
| Ellucian Holdings, Inc., Term Loan, (3-month USD CME Term SOFR + 4.75%) 9.077% 11/22/2032 <sup>(g)(h)</sup>  | 25 | 26 |
| Encino Acquisition Partners Holdings, LLC 8.75% 5/1/2031 <sup>(e)</sup>  | 30 | 33 |
| Endo Finance Holdings, Inc. 8.50% 4/15/2031 <sup>(e)</sup>  | 190 | 201 |
| Endo Finance Holdings, Inc., Term Loan B, (3-month USD CME Term SOFR + 4.00%) 8.327% 4/23/2031 <sup>(g)(h)</sup>  | 84 | 84 |
| Enel Finance International NV 1.625% 7/12/2026 <sup>(e)</sup>  | 1248 | 1212 |
| Enel Finance International NV 2.125% 7/12/2028 <sup>(e)</sup>  | 1227 | 1146 |
| Enfragen Energia Sur SA 5.375% 12/30/2030  | 3329 | 2983 |
| Entergy Corp. 0.90% 9/15/2025  | 750 | 744 |
| Enterprise Products Operating, LLC 4.95% 2/15/2035  | 168 | 167 |
| Enviri Corp. 5.75% 7/31/2027 <sup>(e)</sup>  | 145 | 143 |
| EQT Corp. 6.375% 4/1/2029 <sup>(e)</sup>  | 20 | 21 |
| EQT Corp. 7.50% 6/1/2030 <sup>(e)</sup>  | 45 | 49 |
| Equinix, Inc. 1.80% 7/15/2027  | 1145 | 1092 |
| EquipmentShare, Series 2024-2M, Class A, 5.70% 12/20/2032 <sup>(d)(e)</sup>  | 871 | 885 |
| EquipmentShare, Series 2025-1M, Class A, 5.48% 9/26/2033 <sup>(d)(e)</sup>  | 1348 | 1358 |
| EquipmentShare.com, Inc. 9.00% 5/15/2028 <sup>(e)</sup>  | 90 | 95 |
| EquipmentShare.com, Inc. 8.625% 5/15/2032 <sup>(e)</sup>  | 15 | 16 |
| ESAB Corp. 6.25% 4/15/2029 <sup>(e)</sup>  | 75 | 77 |
| Evergreen Credit Card Trust, Series 2025-CRT5, Class B, 5.24% 5/15/2029 <sup>(d)(e)</sup>  | 148 | 149 |
| Exeter Automobile Receivables Trust, Series 2023-5A, Class B, 6.58% 4/17/2028 <sup>(d)</sup>  | 62 | 62 |
| Expand Energy Corp. 5.875% 2/1/2029 <sup>(e)</sup>  | 46 | 46 |
| Expand Energy Corp. 6.75% 4/15/2029 <sup>(e)</sup>  | 30 | 30 |
| Expand Energy Corp. 5.375% 3/15/2030  | 55 | 55 |
| Expand Energy Corp. 4.75% 2/1/2032  | 15 | 15 |
| Expand Energy Corp. 4.875% 4/15/2032 <sup>(j)</sup>  | 915 | 4 |
| Export-Import Bank of Thailand 5.354% 5/16/2029  | 1420 | 1461 |
| Fair Isaac Corp. 4.00% 6/15/2028 <sup>(e)</sup>  | 15 | 15 |
| Fair Isaac Corp. 6.00% 5/15/2033 <sup>(e)</sup>  | 125 | 126 |
| Fannie Mae Pool #MA5696 7.00% 3/1/2045 <sup>(d)</sup>  | 75 | 80 |
| Fannie Mae Pool #BP5576 2.50% 6/1/2050 <sup>(d)</sup>  | 6 | 5 |
| Fannie Mae Pool #FP0015 2.50% 9/1/2050 <sup>(d)</sup>  | 1 | 1 |
| Fannie Mae Pool #FS9792 4.50% 12/1/2050 <sup>(d)</sup>  | 127 | 124 |
| Fannie Mae Pool #CB0046 3.00% 4/1/2051 <sup>(d)</sup>  | 1635 | 1417 |
| Fannie Mae Pool #FM9672 2.50% 12/1/2051 <sup>(d)</sup>  | 248 | 206 |
| Fannie Mae Pool #MA4577 2.00% 4/1/2052 <sup>(d)</sup>  | 1414 | 1124 |
| Fannie Mae Pool #FS9189 2.00% 5/1/2052 <sup>(d)</sup>  | 1380 | 1097 |
| Fannie Mae Pool #FS3056 2.00% 10/1/2052 <sup>(d)</sup>  | 3437 | 2727 |
| Fannie Mae Pool #CB4852 4.50% 10/1/2052 <sup>(d)</sup>  | 3987 | 3824 |
| Fannie Mae Pool #MA4785 5.00% 10/1/2052 <sup>(d)</sup>  | 51 | 50 |
| Fannie Mae Pool #MA4805 4.50% 11/1/2052 <sup>(d)</sup>  | 1692 | 1623 |
| Fannie Mae Pool #MA4919 5.50% 2/1/2053 <sup>(d)</sup>  | 93 | 93 |
| Fannie Mae Pool #FS4191 5.50% 3/1/2053 <sup>(d)</sup>  | 203 | 205 |
| Fannie Mae Pool #CB5912 6.00% 3/1/2053 <sup>(d)</sup>  | 882 | 903 |
| Fannie Mae Pool #BY0943 4.00% 4/1/2053 <sup>(d)</sup>  | 20 | 19 |
| Fannie Mae Pool #MA5009 5.00% 5/1/2053 <sup>(d)</sup>  | 4375 | 4302 |
| Fannie Mae Pool #FS4840 5.50% 5/1/2053 <sup>(d)</sup>  | 532 | 532 |
| Fannie Mae Pool #MA5010 5.50% 5/1/2053 <sup>(d)</sup>  | 16 | 16 |
| Fannie Mae Pool #MA5039 5.50% 6/1/2053 <sup>(d)</sup>  | 58 | 58 |
| Fannie Mae Pool #CB6626 4.00% 7/1/2053 <sup>(d)</sup>  | 28 | 26 |
| Fannie Mae Pool #MA5071 5.00% 7/1/2053 <sup>(d)</sup>  | 420 | 413 |
| Fannie Mae Pool #MA5072 5.50% 7/1/2053 <sup>(d)</sup>  | 218 | 219 |
| Fannie Mae Pool #CB7104 5.50% 9/1/2053 <sup>(d)</sup>  | 1535 | 1539 |
| Fannie Mae Pool #MA5165 5.50% 10/1/2053 <sup>(d)</sup>  | 839 | 840 |
| Fannie Mae Pool #MA5166 6.00% 10/1/2053 <sup>(d)</sup>  | 1839 | 1872 |
| Fannie Mae Pool #FS6838 5.50% 11/1/2053 <sup>(d)</sup>  | 435 | 435 |
| Fannie Mae Pool #MA5191 6.00% 11/1/2053 <sup>(d)</sup>  | 2183 | 2223 |
| Fannie Mae Pool #MA5271 5.50% 2/1/2054 <sup>(d)</sup>  | 636 | 637 |
| Fannie Mae Pool #FS6809 5.50% 2/1/2054 <sup>(d)</sup>  | 220 | 220 |
| Fannie Mae Pool #MA5296 5.50% 3/1/2054 <sup>(d)</sup>  | 457 | 457 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **199** | American Funds Insurance Series |

---

------

Capital World Bond Fund<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **U.S. dollars (continued)** |  |  |
| Fannie Mae Pool #MA5295 6.00% 3/1/2054 <sup>(d)</sup>  | USD277 | $282 |
| Fannie Mae Pool #BU4479 5.50% 4/1/2054 <sup>(d)</sup>  | 320 | 321 |
| Fannie Mae Pool #DB2495 6.00% 5/1/2054 <sup>(d)</sup>  | 578 | 588 |
| Fannie Mae Pool #FS8131 5.50% 6/1/2054 <sup>(d)</sup>  | 1639 | 1647 |
| Fannie Mae Pool #FS8153 6.00% 6/1/2054 <sup>(d)</sup>  | 1581 | 1618 |
| Fannie Mae Pool #DB6878 6.00% 6/1/2054 <sup>(d)</sup>  | 944 | 961 |
| Fannie Mae Pool #CB8755 6.00% 6/1/2054 <sup>(d)</sup>  | 646 | 661 |
| Fannie Mae Pool #FS8223 6.00% 6/1/2054 <sup>(d)</sup>  | 219 | 223 |
| Fannie Mae Pool #FS8219 6.00% 6/1/2054 <sup>(d)</sup>  | 196 | 202 |
| Fannie Mae Pool #CB8842 5.50% 7/1/2054 <sup>(d)</sup>  | 4031 | 4038 |
| Fannie Mae Pool #DB5213 5.50% 7/1/2054 <sup>(d)</sup>  | 3341 | 3344 |
| Fannie Mae Pool #BU4699 5.50% 7/1/2054 <sup>(d)</sup>  | 1039 | 1040 |
| Fannie Mae Pool #DB5214 6.00% 7/1/2054 <sup>(d)</sup>  | 1514 | 1540 |
| Fannie Mae Pool #BU4707 6.00% 7/1/2054 <sup>(d)</sup>  | 1306 | 1329 |
| Fannie Mae Pool #BU4700 6.00% 7/1/2054 <sup>(d)</sup>  | 838 | 853 |
| Fannie Mae Pool #DB6901 6.00% 7/1/2054 <sup>(d)</sup>  | 586 | 596 |
| Fannie Mae Pool #CB8858 6.00% 7/1/2054 <sup>(d)</sup>  | 570 | 582 |
| Fannie Mae Pool #FS8318 6.00% 7/1/2054 <sup>(d)</sup>  | 420 | 431 |
| Fannie Mae Pool #FS8591 6.00% 7/1/2054 <sup>(d)</sup>  | 318 | 326 |
| Fannie Mae Pool #DB7039 6.00% 7/1/2054 <sup>(d)</sup>  | 177 | 181 |
| Fannie Mae Pool #FS8786 6.50% 7/1/2054 <sup>(d)</sup>  | 17 | 17 |
| Fannie Mae Pool #FS9819 7.00% 7/1/2054 <sup>(d)</sup>  | 43 | 46 |
| Fannie Mae Pool #DB7783 5.50% 8/1/2054 <sup>(d)</sup>  | 393 | 395 |
| Fannie Mae Pool #DB7792 6.00% 8/1/2054 <sup>(d)</sup>  | 823 | 838 |
| Fannie Mae Pool #FS8757 6.00% 8/1/2054 <sup>(d)</sup>  | 496 | 508 |
| Fannie Mae Pool #FS8758 6.00% 8/1/2054 <sup>(d)</sup>  | 340 | 346 |
| Fannie Mae Pool #BU4916 6.00% 8/1/2054 <sup>(d)</sup>  | 246 | 251 |
| Fannie Mae Pool #FS8756 6.00% 8/1/2054 <sup>(d)</sup>  | 202 | 207 |
| Fannie Mae Pool #DC0299 6.00% 8/1/2054 <sup>(d)</sup>  | 195 | 199 |
| Fannie Mae Pool #DB7692 6.00% 8/1/2054 <sup>(d)</sup>  | 189 | 192 |
| Fannie Mae Pool #BU4968 6.00% 8/1/2054 <sup>(d)</sup>  | 163 | 166 |
| Fannie Mae Pool #DB7687 6.00% 8/1/2054 <sup>(d)</sup>  | 94 | 96 |
| Fannie Mae Pool #DB7690 6.00% 8/1/2054 <sup>(d)</sup>  | 74 | 76 |
| Fannie Mae Pool #MA5445 6.00% 8/1/2054 <sup>(d)</sup>  | 68 | 69 |
| Fannie Mae Pool #DC0296 6.00% 8/1/2054 <sup>(d)</sup>  | 66 | 68 |
| Fannie Mae Pool #FS8795 6.00% 8/1/2054 <sup>(d)</sup>  | 38 | 39 |
| Fannie Mae Pool #MA5470 5.50% 9/1/2054 <sup>(d)</sup>  | 2116 | 2118 |
| Fannie Mae Pool #FS8866 6.00% 9/1/2054 <sup>(d)</sup>  | 462 | 472 |
| Fannie Mae Pool #MA5530 5.00% 11/1/2054 <sup>(d)</sup>  | 1812 | 1777 |
| Fannie Mae Pool #MA5531 5.50% 11/1/2054 <sup>(d)</sup>  | 124 | 124 |
| Fannie Mae Pool #MA5552 5.00% 12/1/2054 <sup>(d)</sup>  | 48 | 47 |
| Fannie Mae Pool #FA0608 5.50% 2/1/2055 <sup>(d)</sup>  | 3825 | 3828 |
| Fannie Mae Pool #MA5631 6.50% 2/1/2055 <sup>(d)</sup>  | 707 | 731 |
| Fannie Mae Pool #MA5644 4.50% 3/1/2055 <sup>(d)</sup>  | 612 | 585 |
| Fannie Mae Pool #MA5646 5.50% 3/1/2055 <sup>(d)</sup>  | 4644 | 4647 |
| Fannie Mae Pool #MA5647 6.00% 3/1/2055 <sup>(d)</sup>  | 104 | 105 |
| Fannie Mae Pool #MA5671 4.50% 4/1/2055 <sup>(d)</sup>  | 644 | 616 |
| Fannie Mae Pool #MA5674 6.00% 4/1/2055 <sup>(d)</sup>  | 461 | 469 |
| Fannie Mae Pool #MA5699 5.00% 5/1/2055 <sup>(d)</sup>  | 350 | 343 |
| Fannie Mae Pool #MA5701 6.00% 5/1/2055 <sup>(d)</sup>  | 202 | 206 |
| Fannie Mae Pool #MA5734 5.00% 6/1/2055 <sup>(d)</sup>  | 1624 | 1593 |
| Fannie Mae Pool #MA5735 5.50% 6/1/2055 <sup>(d)</sup>  | 324 | 325 |
| Fannie Mae Pool #MA5762 6.50% 7/1/2055 <sup>(d)</sup>  | 1 | 2 |
| Fannie Mae Pool #DD6324 5.00% 4/1/2055 <sup>(d)</sup>  | 371 | 364 |
| Farmer Mac Agricultural Real Estate Trust, Series 2024-2, Class B, 5.595% 8/1/2054 <sup>(d)(e)(h)</sup>  | 330 | 294 |
| Fertitta Entertainment, LLC 6.75% 1/15/2030 <sup>(e)</sup>  | 25 | 23 |
| Fiesta Purchaser, Inc. 7.875% 3/1/2031 <sup>(e)</sup>  | 150 | 159 |
| Fiesta Purchaser, Inc. 9.625% 9/15/2032 <sup>(e)</sup>  | 30 | 32 |
| Fiesta Purchaser, Inc., Term Loan, (3-month USD CME Term SOFR + 3.25%) 7.577% 2/12/2031 <sup>(g)(h)</sup>  | 15 | 15 |
| Finastra USA, Inc., Term Loan B, (3-month USD CME Term SOFR + 7.25%) 11.428% 9/13/2029 <sup>(b)(g)(h)</sup>  | 95 | 96 |
| Finastra USA, Inc., Term Loan, (3-month USD CME Term SOFR + 7.25%) 11.428% 9/13/2029 <sup>(b)(g)(h)</sup>  | 2 | 2 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **200** |

---

------

Capital World Bond Fund<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **U.S. dollars (continued)** |  |  |
| First Student Bidco, Inc. 4.00% 7/31/2029 <sup>(e)</sup>  | USD45 | $42 |
| FirstEnergy Corp., Series B, 3.90% 7/15/2027  | 1763 | 1744 |
| Fontainebleau Miami Beach Trust, Series 2024-FBLU, Class A, (1-month USD CME Term SOFR + 1.45%) <br> 5.762% 12/15/2029 <sup>(d)(e)(h)</sup>  | 483 | 484 |
| Ford Motor Co. 6.10% 8/19/2032  | 30 | 30 |
| Ford Motor Credit Co., LLC 5.85% 5/17/2027  | 2175 | 2192 |
| Ford Motor Credit Co., LLC 4.95% 5/28/2027  | 300 | 298 |
| Ford Motor Credit Co., LLC 3.815% 11/2/2027  | 200 | 193 |
| Ford Motor Credit Co., LLC 7.35% 11/4/2027  | 200 | 208 |
| Ford Motor Credit Co., LLC 2.90% 2/16/2028  | 200 | 188 |
| Ford Motor Credit Co., LLC 5.80% 3/8/2029  | 3000 | 3007 |
| Ford Motor Credit Co., LLC 4.00% 11/13/2030  | 125 | 114 |
| Ford Otomotiv Sanayi AS 7.125% 4/25/2029 <sup>(e)</sup>  | 255 | 256 |
| Freddie Mac, Series K153, Class A2, Multi Family, 3.82% 1/25/2033 <sup>(d)</sup>  | 1680 | 1617 |
| Freddie Mac Pool #RB5111 2.00% 5/1/2041 <sup>(d)</sup>  | 2088 | 1797 |
| Freddie Mac Pool #Z40273 4.50% 10/1/2048 <sup>(d)</sup>  | 195 | 190 |
| Freddie Mac Pool #RA6114 2.00% 2/1/2052 <sup>(d)</sup>  | 605 | 480 |
| Freddie Mac Pool #QE6084 5.00% 7/1/2052 <sup>(d)</sup>  | 911 | 898 |
| Freddie Mac Pool #SD8266 4.50% 11/1/2052 <sup>(d)</sup>  | 372 | 357 |
| Freddie Mac Pool #SD8276 5.00% 12/1/2052 <sup>(d)</sup>  | 3297 | 3249 |
| Freddie Mac Pool #SD8287 4.50% 1/1/2053 <sup>(d)</sup>  | 2788 | 2674 |
| Freddie Mac Pool #SD8323 5.00% 5/1/2053 <sup>(d)</sup>  | 5529 | 5434 |
| Freddie Mac Pool #SD8331 5.50% 6/1/2053 <sup>(d)</sup>  | 259 | 260 |
| Freddie Mac Pool #SD8341 5.00% 7/1/2053 <sup>(d)</sup>  | 22 | 22 |
| Freddie Mac Pool #SD8342 5.50% 7/1/2053 <sup>(d)</sup>  | 695 | 697 |
| Freddie Mac Pool #SD3432 6.00% 7/1/2053 <sup>(d)</sup>  | 173 | 177 |
| Freddie Mac Pool #SD3512 6.00% 8/1/2053 <sup>(d)</sup>  | 58 | 59 |
| Freddie Mac Pool #RA9795 4.00% 9/1/2053 <sup>(d)</sup>  | 34 | 32 |
| Freddie Mac Pool #SD8362 5.50% 9/1/2053 <sup>(d)</sup>  | 2668 | 2672 |
| Freddie Mac Pool #SD8363 6.00% 9/1/2053 <sup>(d)</sup>  | 1592 | 1620 |
| Freddie Mac Pool #SD4977 5.00% 11/1/2053 <sup>(d)</sup>  | 29450 | 28942 |
| Freddie Mac Pool #SD8372 5.50% 11/1/2053 <sup>(d)</sup>  | 11000 | 11029 |
| Freddie Mac Pool #RJ0326 6.50% 11/1/2053 <sup>(d)</sup>  | 126 | 131 |
| Freddie Mac Pool #SD8401 5.50% 2/1/2054 <sup>(d)</sup>  | 194 | 194 |
| Freddie Mac Pool #SD8402 6.00% 2/1/2054 <sup>(d)</sup>  | 1786 | 1818 |
| Freddie Mac Pool #QI1357 4.00% 3/1/2054 <sup>(d)</sup>  | 927 | 863 |
| Freddie Mac Pool #SD8408 5.50% 3/1/2054 <sup>(d)</sup>  | 1449 | 1450 |
| Freddie Mac Pool #QI3333 6.00% 4/1/2054 <sup>(d)</sup>  | 103 | 105 |
| Freddie Mac Pool #SD5692 6.00% 5/1/2054 <sup>(d)</sup>  | 126 | 129 |
| Freddie Mac Pool #SD8433 6.50% 5/1/2054 <sup>(d)</sup>  | 25 | 26 |
| Freddie Mac Pool #RJ1855 5.00% 6/1/2054 <sup>(d)</sup>  | 271 | 266 |
| Freddie Mac Pool #RJ1857 5.50% 6/1/2054 <sup>(d)</sup>  | 14756 | 14781 |
| Freddie Mac Pool #RJ1768 5.50% 6/1/2054 <sup>(d)</sup>  | 822 | 826 |
| Freddie Mac Pool #RJ1859 6.00% 6/1/2054 <sup>(d)</sup>  | 977 | 995 |
| Freddie Mac Pool #RJ1963 5.50% 7/1/2054 <sup>(d)</sup>  | 1054 | 1055 |
| Freddie Mac Pool #QI8872 5.50% 7/1/2054 <sup>(d)</sup>  | 522 | 523 |
| Freddie Mac Pool #SD8447 6.00% 7/1/2054 <sup>(d)</sup>  | 1540 | 1567 |
| Freddie Mac Pool #RJ1964 6.00% 7/1/2054 <sup>(d)</sup>  | 1259 | 1294 |
| Freddie Mac Pool #RJ1975 6.00% 7/1/2054 <sup>(d)</sup>  | 869 | 886 |
| Freddie Mac Pool #SD5813 6.00% 7/1/2054 <sup>(d)</sup>  | 538 | 551 |
| Freddie Mac Pool #QI8874 6.00% 7/1/2054 <sup>(d)</sup>  | 346 | 352 |
| Freddie Mac Pool #SD5873 6.00% 7/1/2054 <sup>(d)</sup>  | 228 | 232 |
| Freddie Mac Pool #SD5896 6.00% 7/1/2054 <sup>(d)</sup>  | 185 | 189 |
| Freddie Mac Pool #RJ2200 5.50% 8/1/2054 <sup>(d)</sup>  | 6026 | 6045 |
| Freddie Mac Pool #RJ2206 5.50% 8/1/2054 <sup>(d)</sup>  | 3860 | 3874 |
| Freddie Mac Pool #RJ2243 5.50% 8/1/2054 <sup>(d)</sup>  | 3455 | 3462 |
| Freddie Mac Pool #RJ2203 5.50% 8/1/2054 <sup>(d)</sup>  | 633 | 637 |
| Freddie Mac Pool #SD6029 6.00% 8/1/2054 <sup>(d)</sup>  | 310 | 317 |
| Freddie Mac Pool #SD8454 6.00% 8/1/2054 <sup>(d)</sup>  | 29 | 29 |
| Freddie Mac Pool #RJ2222 6.50% 8/1/2054 <sup>(d)</sup>  | 543 | 565 |
| Freddie Mac Pool #SD8462 5.50% 9/1/2054 <sup>(d)</sup>  | 2317 | 2319 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **201** | American Funds Insurance Series |

---

------

Capital World Bond Fund<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **U.S. dollars (continued)** |  |  |
| Freddie Mac Pool #RJ2298 5.50% 9/1/2054 <sup>(d)</sup>  | USD666 | $668 |
| Freddie Mac Pool #RJ2314 6.00% 9/1/2054 <sup>(d)</sup>  | 1084 | 1104 |
| Freddie Mac Pool #RJ2312 6.00% 9/1/2054 <sup>(d)</sup>  | 592 | 606 |
| Freddie Mac Pool #RJ2308 6.00% 9/1/2054 <sup>(d)</sup>  | 560 | 574 |
| Freddie Mac Pool #RJ2306 6.00% 9/1/2054 <sup>(d)</sup>  | 514 | 528 |
| Freddie Mac Pool #RJ2309 6.00% 9/1/2054 <sup>(d)</sup>  | 331 | 337 |
| Freddie Mac Pool #SD8469 5.50% 10/1/2054 <sup>(d)</sup>  | 443 | 444 |
| Freddie Mac Pool #RJ2851 4.50% 11/1/2054 <sup>(d)</sup>  | 426 | 408 |
| Freddie Mac Pool #SD8475 5.50% 11/1/2054 <sup>(d)</sup>  | 1156 | 1157 |
| Freddie Mac Pool #SD8491 5.00% 12/1/2054 <sup>(d)</sup>  | 523 | 513 |
| Freddie Mac Pool #QX1414 5.50% 12/1/2054 <sup>(d)</sup>  | 340 | 340 |
| Freddie Mac Pool #SD8493 5.50% 12/1/2054 <sup>(d)</sup>  | 13 | 13 |
| Freddie Mac Pool #SD8507 6.00% 2/1/2055 <sup>(d)</sup>  | 58 | 59 |
| Freddie Mac Pool #SL1094 5.00% 4/1/2055 <sup>(d)</sup>  | 152 | 149 |
| Freddie Mac Pool #SD8525 6.00% 4/1/2055 <sup>(d)</sup>  | 627 | 637 |
| Freddie Mac Pool #SD8532 5.00% 5/1/2055 <sup>(d)</sup>  | 322 | 315 |
| Freddie Mac Pool #SD8534 6.00% 5/1/2055 <sup>(d)</sup>  | 166 | 169 |
| Freddie Mac Pool #RQ0012 5.00% 6/1/2055 <sup>(d)</sup>  | 449 | 441 |
| Freddie Mac Pool #RQ0013 5.50% 6/1/2055 <sup>(d)</sup>  | 746 | 746 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA3, Class M1B, (30-day Average <br> USD-SOFR + 2.90%) 7.205% 4/25/2042 <sup>(d)(e)(h)</sup>  | 441 | 455 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2025-DNA1, Class A1, (30-day Average <br> USD-SOFR + 0.95%) 5.255% 1/25/2045 <sup>(d)(e)(h)</sup>  | 282 | 282 |
| Frontier Communications Holdings, LLC 5.00% 5/1/2028 <sup>(e)</sup>  | 25 | 25 |
| Frontier Communications Holdings, LLC 6.75% 5/1/2029 <sup>(e)</sup>  | 2 | 2 |
| Frontier Communications Holdings, LLC 5.875% 11/1/2029  | 65 | 66 |
| Frontier Communications Holdings, LLC 6.00% 1/15/2030 <sup>(e)</sup>  | 103 | 104 |
| Frontier Communications Holdings, LLC 8.625% 3/15/2031 <sup>(e)</sup>  | 27 | 29 |
| FXI Holdings, Inc. 12.25% 11/15/2026 <sup>(e)</sup>  | 497 | 438 |
| Garda World Security Corp. 8.375% 11/15/2032 <sup>(e)</sup>  | 65 | 67 |
| Gartner, Inc. 3.75% 10/1/2030 <sup>(e)</sup>  | 70 | 66 |
| GCAT Trust, Series 2024-NQM2, Class A1, 6.085% 6/25/2059 (7.359% on 5/1/2028) <sup>(a)(d)(e)</sup>  | 1150 | 1160 |
| Genesis Energy, LP 8.25% 1/15/2029  | 25 | 26 |
| Genesis Energy, LP 8.875% 4/15/2030  | 38 | 40 |
| Genesis Energy, LP 7.875% 5/15/2032  | 60 | 62 |
| Georgia (Republic of) 2.75% 4/22/2026 <sup>(e)</sup>  | 400 | 389 |
| Gilead Sciences, Inc. 5.25% 10/15/2033  | 1342 | 1389 |
| Gilead Sciences, Inc. 5.55% 10/15/2053  | 1155 | 1141 |
| Glatfelter Corp., Term Loan B, (3-month USD CME Term SOFR + 4.25%) 8.583% 11/4/2031 <sup>(g)(h)</sup>  | 55 | 54 |
| Global Auto Holdings PLC 11.50% 8/15/2029 <sup>(e)</sup>  | 200 | 196 |
| Goldman Sachs Group, Inc. 1.542% 9/10/2027 (USD-SOFR + 0.818% on 9/10/2026) <sup>(a)</sup>  | 1080 | 1043 |
| Goldman Sachs Group, Inc. 5.536% 1/28/2036 (USD-SOFR + 1.38% on 1/28/2035) <sup>(a)</sup>  | 732 | 751 |
| Government National Mortgage Assn. Pool #785813 2.50% 12/20/2051 <sup>(d)</sup>  | 3561 | 2987 |
| Government National Mortgage Assn. Pool #MB0144 4.00% 1/20/2055 <sup>(d)</sup>  | 1756 | 1634 |
| Government National Mortgage Assn. Pool #MB0202 4.00% 2/20/2055 <sup>(d)</sup>  | 185 | 172 |
| Government National Mortgage Assn. Pool #MB0256 4.00% 3/20/2055 <sup>(d)</sup>  | 225 | 209 |
| Government National Mortgage Assn. Pool #MB0421 4.00% 6/20/2055 <sup>(d)</sup>  | 10 | 9 |
| Government National Mortgage Assn. 6.50% 7/1/2055 <sup>(d)(k)</sup>  | 1708 | 1754 |
| Government National Mortgage Assn., Series 2021-2, Class AH, 1.50% 6/16/2063 <sup>(d)</sup>  | 754 | 551 |
| Grand Parkway Transportation Corp., Grand Parkway System Toll Rev. Ref. Bonds, Series 2020-B, <br>3.236% 10/1/2052  | 965 | 659 |
| Gray Media, Inc. 5.375% 11/15/2031 <sup>(e)</sup>  | 19 | 14 |
| Greenko Dutch BV 3.85% 3/29/2026  | 1514 | 1488 |
| GreenSaif Pipelines Bidco SARL 5.853% 2/23/2036 <sup>(e)</sup>  | 1645 | 1665 |
| Group 1 Automotive, Inc. 4.00% 8/15/2028 <sup>(e)</sup>  | 115 | 111 |
| Grupo Energia Bogota SA ESP 4.875% 5/15/2030 <sup>(e)</sup>  | 660 | 650 |
| Gulfport Energy Operating Corp. 6.75% 9/1/2029 <sup>(e)</sup>  | 15 | 15 |
| HAH Group Holding Co., LLC 9.75% 10/1/2031 <sup>(e)</sup>  | 115 | 114 |
| Hanesbrands, Inc., Term Loan B, (3-month USD CME Term SOFR + 2.75%) 7.077% 3/7/2032 <sup>(g)(h)</sup>  | 56 | 57 |
| Harvest Midstream I, LP 7.50% 9/1/2028 <sup>(e)</sup>  | 25 | 25 |
| Harvest Midstream I, LP 7.50% 5/15/2032 <sup>(e)</sup>  | 25 | 26 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **202** |

---

------

Capital World Bond Fund<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **U.S. dollars (continued)** |  |  |
| Hawaii Hotel Trust, Series 2025-MAUI, Class A, (1-month USD CME Term SOFR + 1.393%) 5.705% <br>3/15/2042 <sup>(d)(e)(h)</sup>  | USD1,066 | $1068 |
| HCA, Inc. 5.625% 9/1/2028  | 120 | 124 |
| HealthEquity, Inc. 4.50% 10/1/2029 <sup>(e)</sup>  | 80 | 78 |
| Helios Software Holdings, Inc. 8.75% 5/1/2029 <sup>(e)</sup>  | 200 | 206 |
| Herc Holdings, Inc. 7.00% 6/15/2030 <sup>(e)</sup>  | 65 | 68 |
| Herc Holdings, Inc. 7.25% 6/15/2033 <sup>(e)</sup>  | 30 | 31 |
| Hertz Vehicle Financing, LLC, Series 2024-1A, Class A, 5.44% 1/25/2029 <sup>(d)(e)</sup>  | 249 | 253 |
| Hertz Vehicle Financing, LLC, Series 2025-1A, Class A, 4.91% 9/25/2029 <sup>(d)(e)</sup>  | 1188 | 1194 |
| Hess Midstream Operations, LP 5.50% 10/15/2030 <sup>(e)</sup>  | 14 | 14 |
| Hightower Holding, LLC 6.75% 4/15/2029 <sup>(e)</sup>  | 235 | 234 |
| Hilcorp Energy I, LP 6.00% 4/15/2030 <sup>(e)</sup>  | 105 | 102 |
| Hilcorp Energy I, LP 6.00% 2/1/2031 <sup>(e)</sup>  | 25 | 24 |
| Hilton Domestic Operating Co., Inc. 4.875% 1/15/2030  | 25 | 25 |
| Hilton Domestic Operating Co., Inc. 4.00% 5/1/2031 <sup>(e)</sup>  | 115 | 108 |
| Honduras (Republic of) 6.25% 1/19/2027  | 653 | 654 |
| Houston Galleria Mall Trust, Series 2025-HGLR, Class A, 5.644% 2/5/2045 <sup>(d)(e)(h)</sup>  | 1949 | 2004 |
| Howard Hughes Corp. (The) 5.375% 8/1/2028 <sup>(e)</sup>  | 175 | 174 |
| Howard Hughes Corp. (The) 4.125% 2/1/2029 <sup>(e)</sup>  | 195 | 186 |
| Howard Hughes Corp. (The) 4.375% 2/1/2031 <sup>(e)</sup>  | 120 | 111 |
| Howden UK Refinance 2 PLC 8.125% 2/15/2032 <sup>(e)</sup>  | 200 | 209 |
| HSBC Holdings PLC 4.292% 9/12/2026 (3-month USD CME Term SOFR + 1.609% on 9/12/2025) <sup>(a)</sup>  | 4172 | 4168 |
| HSBC Holdings PLC 4.755% 6/9/2028 (USD-SOFR + 2.11% on 6/9/2027) <sup>(a)</sup>  | 1700 | 1707 |
| HSBC Holdings PLC 7.399% 11/13/2034 (USD-SOFR + 3.02% on 11/13/2033) <sup>(a)</sup>  | 2000 | 2238 |
| HSBC Holdings PLC 6.332% 3/9/2044 (USD-SOFR + 2.65% on 3/9/2043) <sup>(a)</sup>  | 1200 | 1289 |
| HTL Commercial Mortgage Trust, Series 2024-T53, Class A, 5.875% 5/10/2039 <sup>(d)(e)(h)</sup>  | 396 | 400 |
| HUB International, Ltd. 7.375% 1/31/2032 <sup>(e)</sup>  | 130 | 136 |
| HUB International, Ltd., Term Loan, (3-month USD CME Term SOFR + 2.50%) 6.769% 6/20/2030 <sup>(g)(h)</sup>  | 3 | 3 |
| Hudson Yards Mortgage Trust, Series 2025-SPRL, Class A, 5.649% 1/13/2040 <sup>(d)(e)(h)</sup>  | 2712 | 2799 |
| Hungary (Republic of) 6.00% 9/26/2035 <sup>(e)</sup>  | 325 | 327 |
| Hungary (Republic of) 5.50% 3/26/2036 <sup>(e)</sup>  | 290 | 280 |
| Husky Injection Molding Systems, Ltd., Term Loan B, (3-month USD CME Term SOFR + 4.50%) <br>8.796% 2/15/2029 <sup>(g)(h)</sup>  | 54 | 55 |
| Hyatt Hotels Corp. 5.75% 3/30/2032  | 16 | 16 |
| Hyundai Capital America 1.50% 6/15/2026 <sup>(e)</sup>  | 2375 | 2306 |
| Hyundai Capital America 1.65% 9/17/2026 <sup>(e)</sup>  | 269 | 260 |
| Hyundai Capital America 2.00% 6/15/2028 <sup>(e)</sup>  | 600 | 555 |
| Hyundai Capital America 6.50% 1/16/2029 <sup>(e)</sup>  | 132 | 139 |
| Icahn Enterprises, LP 9.75% 1/15/2029  | 65 | 63 |
| Indonesia Asahan Aluminium (Persero) PT 5.45% 5/15/2030 <sup>(e)</sup>  | 500 | 509 |
| Ingles Markets, Inc. 4.00% 6/15/2031 <sup>(e)</sup>  | 130 | 121 |
| Insulet Corp. 6.50% 4/1/2033 <sup>(e)</sup>  | 7 | 7 |
| Intelsat Jackson Holdings SA 6.50% 3/15/2030 <sup>(e)</sup>  | 130 | 133 |
| Intesa Sanpaolo SpA 7.00% 11/21/2025 <sup>(e)</sup>  | 225 | 227 |
| INTOWN Mortgage Trust, Series 2025-STAY, Class A, (1-month USD CME Term SOFR + 1.35%) 5.662% <br>3/15/2042 <sup>(d)(e)(h)</sup>  | 3679 | 3668 |
| Iron Mountain Information Management Services, Inc. 5.00% 7/15/2032 <sup>(e)</sup>  | 55 | 53 |
| Iron Mountain, Inc. 5.25% 7/15/2030 <sup>(e)</sup>  | 235 | 232 |
| Ithaca Energy (North Sea) PLC 8.125% 10/15/2029 <sup>(e)</sup>  | 200 | 206 |
| Jane Street Group, LLC 6.75% 5/1/2033 <sup>(e)</sup>  | 80 | 82 |
| Jefferson Capital Holdings, LLC 8.25% 5/15/2030 <sup>(e)</sup>  | 80 | 83 |
| JH North America Holdings, Inc. 5.875% 1/31/2031 <sup>(e)</sup>  | 5 | 5 |
| JH North America Holdings, Inc. 6.125% 7/31/2032 <sup>(e)</sup>  | 5 | 5 |
| JPMorgan Chase & Co. 1.04% 2/4/2027 (USD-SOFR + 0.695% on 2/4/2026) <sup>(a)</sup>  | 1243 | 1218 |
| JPMorgan Chase & Co. 5.572% 4/22/2036 (USD-SOFR + 1.68% on 4/22/2035) <sup>(a)</sup>  | 536 | 556 |
| JPMorgan Chase & Co. 5.534% 11/29/2045 (USD-SOFR + 1.55% on 11/29/2044) <sup>(a)</sup>  | 730 | 732 |
| Kaseya, Inc., Term Loan, (3-month USD CME Term SOFR + 3.25%) 7.577% 3/20/2032 <sup>(g)(h)</sup>  | 75 | 75 |
| Kaseya, Inc., Term Loan, (3-month USD CME Term SOFR + 5.00%) 9.327% 3/20/2033 <sup>(g)(h)</sup>  | 50 | 50 |
| KB Home 6.875% 6/15/2027  | 50 | 52 |
| Kennedy-Wilson, Inc. 4.75% 3/1/2029  | 20 | 19 |
| Kennedy-Wilson, Inc. 4.75% 2/1/2030  | 245 | 225 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **203** | American Funds Insurance Series |

---

------

Capital World Bond Fund<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **U.S. dollars (continued)** |  |  |
| Kimmeridge Texas Gas, LLC 8.50% 2/15/2030 <sup>(e)</sup>  | USD15 | $16 |
| Kodiak Gas Services, LLC 7.25% 2/15/2029 <sup>(e)</sup>  | 10 | 10 |
| Korea Electric Power Corp. 5.375% 7/31/2026 <sup>(e)</sup>  | 1290 | 1304 |
| Korea Electric Power Corp. 4.75% 2/13/2028 <sup>(e)</sup>  | 2250 | 2277 |
| Korea Gas Corp. 5.00% 7/8/2029 <sup>(e)</sup>  | 225 | 231 |
| KSL Commercial Mortgage Trust, Series 2024-HT2, Class A, (1-month USD CME Term SOFR + 1.542%) <br> 5.854% 12/15/2039 <sup>(d)(e)(h)</sup>  | 1243 | 1243 |
| LAD Auto Receivables Trust, Series 2023-1, Class A3, 5.48% 6/15/2027 <sup>(d)(e)</sup>  | 273 | 274 |
| LAD Auto Receivables Trust, Series 2023-4, Class B, 6.39% 10/16/2028 <sup>(d)(e)</sup>  | 194 | 199 |
| LAD Auto Receivables Trust, Series 2024-3A, Class A3, 4.52% 3/15/2029 <sup>(d)(e)</sup>  | 219 | 220 |
| Lamar Media Corp. 3.75% 2/15/2028  | 10 | 10 |
| Lamar Media Corp. 3.625% 1/15/2031  | 120 | 111 |
| Lamb Weston Holdings, Inc. 4.125% 1/31/2030 <sup>(e)</sup>  | 30 | 29 |
| LATAM Airlines Group SA 7.875% 4/15/2030 <sup>(e)</sup>  | 25 | 26 |
| LCM Investments Holdings II, LLC 4.875% 5/1/2029 <sup>(e)</sup>  | 110 | 107 |
| LCM Investments Holdings II, LLC 8.25% 8/1/2031 <sup>(e)</sup>  | 40 | 43 |
| Lendbuzz Securitization Trust, Series 2025-1A, Class A2, 5.10% 10/15/2030 <sup>(d)(e)</sup>  | 530 | 532 |
| Levi Strauss & Co. 3.50% 3/1/2031 <sup>(e)</sup>  | 115 | 105 |
| LGI Homes, Inc. 8.75% 12/15/2028 <sup>(e)</sup>  | 155 | 161 |
| Light and Wonder International, Inc. 7.00% 5/15/2028 <sup>(e)</sup>  | 20 | 20 |
| Lindblad Expeditions, LLC 6.75% 2/15/2027 <sup>(e)</sup>  | 5 | 5 |
| Live Nation Entertainment, Inc. 4.75% 10/15/2027 <sup>(e)</sup>  | 130 | 129 |
| Lloyds Banking Group PLC 1.627% 5/11/2027 (1-year UST Yield Curve Rate T Note Constant Maturity + <br> 0.85% on 5/11/2026) <sup>(a)</sup>  | 7000 | 6827 |
| Lockheed Martin Corp. 5.20% 2/15/2064  | 309 | 286 |
| LPL Holdings, Inc. 4.375% 5/15/2031 <sup>(e)</sup>  | 135 | 129 |
| LSB Industries, Inc. 6.25% 10/15/2028 <sup>(e)</sup>  | 90 | 89 |
| Magnetite CLO, Ltd., Series 2019-22, Class ARR, (3-month USD CME Term SOFR + 1.25%) 5.506% <br>7/15/2036 <sup>(d)(e)(h)</sup>  | 563 | 564 |
| Marathon CLO, Ltd., Series 2019-2A, Class A1R2, (3-month USD CME Term SOFR + 0.95%) 5.219% <br>1/20/2033 <sup>(d)(e)(h)</sup>  | 2788 | 2776 |
| Marriott International, Inc. 2.75% 10/15/2033  | 5 | 4 |
| Marriott Ownership Resorts, Inc. 4.50% 6/15/2029 <sup>(e)</sup>  | 45 | 43 |
| Mars, Inc. 4.80% 3/1/2030 <sup>(e)</sup>  | 2925 | 2965 |
| Mars, Inc. 5.00% 3/1/2032 <sup>(e)</sup>  | 1450 | 1470 |
| Mars, Inc. 5.20% 3/1/2035 <sup>(e)</sup>  | 1475 | 1493 |
| Marsh & McLennan Companies, Inc. 5.70% 9/15/2053  | 282 | 284 |
| Mastercard, Inc. 2.00% 11/18/2031  | 600 | 523 |
| Matador Resources Co. 6.50% 4/15/2032 <sup>(e)</sup>  | 50 | 50 |
| Matador Resources Co. 6.25% 4/15/2033 <sup>(e)</sup>  | 45 | 45 |
| McDonald's Corp. 4.95% 3/3/2035  | 476 | 476 |
| Medline Borrower, LP 5.25% 10/1/2029 <sup>(e)</sup>  | 40 | 40 |
| Medline Borrower, LP, Term Loan, (3-month USD CME Term SOFR + 2.25%) 6.577% 10/23/2028 <sup>(g)(h)</sup>  | 49 | 49 |
| MEG Energy Corp. 5.875% 2/1/2029 <sup>(e)</sup>  | 30 | 30 |
| Meituan 2.125% 10/28/2025  | 1730 | 1716 |
| Melco Resorts Finance, Ltd. 5.25% 4/26/2026 <sup>(e)</sup>  | 1528 | 1527 |
| Melco Resorts Finance, Ltd. 5.625% 7/17/2027 <sup>(e)</sup>  | 873 | 872 |
| Methanex Corp. 5.125% 10/15/2027  | 55 | 55 |
| Methanex Corp. 5.25% 12/15/2029  | 5 | 5 |
| MFRA Trust, Series 2024-NQM3, Class A1, 5.722% 12/25/2069 (6.722% on 12/1/2028) <sup>(a)(d)(e)</sup>  | 1352 | 1361 |
| MGM Resorts International 5.50% 4/15/2027  | 90 | 91 |
| Microchip Technology, Inc. 5.05% 2/15/2030  | 709 | 720 |
| Mileage Plus Holdings, LLC 6.50% 6/20/2027 <sup>(e)</sup>  | 30 | 30 |
| Mineral Resources, Ltd. 8.00% 11/1/2027 <sup>(e)</sup>  | 155 | 156 |
| Mineral Resources, Ltd. 9.25% 10/1/2028 <sup>(e)</sup>  | 85 | 87 |
| Minerva Luxembourg SA 8.875% 9/13/2033  | 1086 | 1174 |
| Mission Lane Credit Card Master Trust, Series 2024-A, Class A1, 6.20% 8/15/2029 <sup>(d)(e)</sup>  | 1094 | 1104 |
| Mission Lane Credit Card Master Trust, Series 2024-A, Class B, 6.59% 8/15/2029 <sup>(d)(e)</sup>  | 539 | 543 |
| Mission Lane Credit Card Master Trust, Series 2025-B, Class A, 5.40% 9/15/2031 <sup>(d)(e)</sup>  | 1136 | 1137 |
| Molina Healthcare, Inc. 4.375% 6/15/2028 <sup>(e)</sup>  | 80 | 78 |
| Molina Healthcare, Inc. 3.875% 11/15/2030 <sup>(e)</sup>  | 75 | 70 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **204** |

---

------

Capital World Bond Fund<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **U.S. dollars (continued)** |  |  |
| Molina Healthcare, Inc. 6.25% 1/15/2033 <sup>(e)</sup>  | USD115 | $117 |
| Moog, Inc. 4.25% 12/9/2027 <sup>(e)</sup>  | 120 | 117 |
| Morgan Stanley 4.654% 10/18/2030 (USD-SOFR + 1.10% on 10/18/2029) <sup>(a)</sup>  | 3700 | 3708 |
| Morgan Stanley 1.794% 2/13/2032 (USD-SOFR + 1.034% on 2/13/2031) <sup>(a)</sup>  | 1433 | 1226 |
| MPT Operating Partnership, LP 8.50% 2/15/2032 <sup>(e)</sup>  | 35 | 37 |
| MSCI, Inc. 3.625% 11/1/2031 <sup>(e)</sup>  | 210 | 194 |
| MSWF Commercial Mortgage Trust, Series 2023-2, Class A5, 6.014% 12/15/2056 <sup>(d)(h)</sup>  | 336 | 360 |
| Multifamily Connecticut Avenue Securities, Series 2024-01, Class M7, (30-day Average USD-SOFR + 2.75%) <br> 7.055% 7/25/2054 <sup>(d)(e)(h)</sup>  | 493 | 498 |
| Murphy Oil Corp. 6.00% 10/1/2032  | 25 | 24 |
| Murphy Oil USA, Inc. 4.75% 9/15/2029  | 48 | 47 |
| MV24 Capital BV 6.748% 6/1/2034  | 1025 | 995 |
| Nabors Industries, Inc. 7.375% 5/15/2027 <sup>(e)</sup>  | 55 | 54 |
| Nabors Industries, Inc. 9.125% 1/31/2030 <sup>(e)</sup>  | 160 | 153 |
| National Australia Bank, Ltd. 5.181% 6/11/2034 <sup>(e)</sup>  | 1250 | 1294 |
| Nationstar Mortgage Holdings, Inc. 5.125% 12/15/2030 <sup>(e)</sup>  | 135 | 137 |
| Navient Corp. 5.00% 3/15/2027  | 45 | 45 |
| Navient Corp. 4.875% 3/15/2028  | 145 | 143 |
| Navient Corp. 7.875% 6/15/2032  | 55 | 57 |
| NCR Atleos Corp., Term Loan B, (3-month USD CME Term SOFR + 3.75%) 8.030% 4/16/2029 <sup>(g)(h)</sup>  | 21 | 21 |
| NCR Voyix Corp. 5.125% 4/15/2029 <sup>(e)</sup>  | 38 | 37 |
| New York Life Global Funding 1.20% 8/7/2030 <sup>(e)</sup>  | 2725 | 2332 |
| New York Life Global Funding 5.00% 1/9/2034 <sup>(e)</sup>  | 1500 | 1511 |
| New York Mortgage Trust, Series 2024-CP1, Class A1, 3.75% 2/25/2068 <sup>(d)(e)(h)</sup>  | 547 | 506 |
| Newell Brands, Inc. 8.50% 6/1/2028 <sup>(e)</sup>  | 30 | 32 |
| Nexstar Media, Inc. 4.75% 11/1/2028 <sup>(e)</sup>  | 165 | 161 |
| NFE Financing, LLC 12.00% 11/15/2029 <sup>(e)</sup>  | 709 | 323 |
| NGL Energy Operating, LLC 8.125% 2/15/2029 <sup>(e)</sup>  | 55 | 56 |
| NGL Energy Operating, LLC 8.375% 2/15/2032 <sup>(e)</sup>  | 70 | 70 |
| NMEF Funding, LLC, Series 2025-A, Class A2, 4.72% 7/15/2032 <sup>(d)(e)</sup>  | 662 | 663 |
| Norfolk Southern Corp. 5.35% 8/1/2054  | 496 | 474 |
| Northern Oil and Gas, Inc. 8.125% 3/1/2028 <sup>(e)</sup>  | 150 | 151 |
| NOVA Chemicals Corp. 5.25% 6/1/2027 <sup>(e)</sup>  | 20 | 20 |
| NOVA Chemicals Corp. 9.00% 2/15/2030 <sup>(e)</sup>  | 90 | 97 |
| Novelis Corp. 4.75% 1/30/2030 <sup>(e)</sup>  | 80 | 77 |
| Novelis Corp. 3.875% 8/15/2031 <sup>(e)</sup>  | 20 | 18 |
| NuStar Logistics, LP 5.625% 4/28/2027  | 80 | 81 |
| Occidental Petroleum Corp. 6.375% 9/1/2028  | 54 | 56 |
| OCP SA 3.75% 6/23/2031  | 500 | 449 |
| OnDeck Asset Securitization Trust, LLC, Series 2024-1, Class A, 6.27% 6/17/2031 <sup>(d)(e)</sup>  | 269 | 272 |
| OnDeck Asset Securitization Trust, LLC, Series 2024-1, Class B, 7.15% 6/17/2031 <sup>(d)(e)</sup>  | 120 | 122 |
| OneMain Finance Corp. 7.125% 9/15/2032  | 25 | 26 |
| ONEOK, Inc. 5.80% 11/1/2030  | 69 | 72 |
| ONEOK, Inc. 6.05% 9/1/2033  | 514 | 540 |
| ONEOK, Inc. 6.625% 9/1/2053  | 290 | 302 |
| OneSky Flight, LLC 8.875% 12/15/2029 <sup>(e)</sup>  | 35 | 36 |
| Onslow Bay Financial, LLC, Series 2024-NQM5, Class A1, 5.988% 3/25/2028 (6.988% on 3/1/2028) <sup>(a)(d)(e)</sup>  | 770 | 776 |
| Onslow Bay Financial, LLC, Series 2024-NQM7, Class A1, 6.243% 3/25/2064 (7.243% on 4/1/2028) <sup>(a)(d)(e)</sup>  | 1494 | 1510 |
| Onslow Bay Financial, LLC, Series 2025-NQM3, Class A1, 5.648% 12/1/2064 (6.648% on 2/1/2029) <sup>(a)(d)(e)</sup>  | 2573 | 2589 |
| Onslow Bay Financial, LLC, Series 2025-NQM1, Class A1, 5.547% 12/25/2064 (6.547% on 12/1/2028) <sup>(a)(d)(e)</sup>  | 2624 | 2635 |
| Open Text Corp. 3.875% 2/15/2028 <sup>(e)</sup>  | 25 | 24 |
| Option Care Health, Inc. 4.375% 10/31/2029 <sup>(e)</sup>  | 25 | 24 |
| Oracle Corp. 2.65% 7/15/2026  | 2327 | 2286 |
| Oracle Corp. 3.25% 11/15/2027  | 1880 | 1838 |
| Oracle Corp. 3.95% 3/25/2051  | 22 | 16 |
| Orange 9.00% 3/1/2031 <sup>(a)</sup>  | 2434 | 2958 |
| Osaic Holdings, Inc. 10.75% 8/1/2027 <sup>(e)</sup>  | 256 | 257 |
| Owens & Minor, Inc. 6.625% 4/1/2030 <sup>(e)</sup>  | 40 | 38 |
| Pacific Gas and Electric Co. 3.15% 1/1/2026  | 3000 | 2972 |
| Pacific Gas and Electric Co. 4.65% 8/1/2028  | 542 | 539 |
| Pacific Gas and Electric Co. 6.40% 6/15/2033  | 1500 | 1569 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **205** | American Funds Insurance Series |

---

------

Capital World Bond Fund<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **U.S. dollars (continued)** |  |  |
| Pacific Gas and Electric Co. 3.30% 8/1/2040  | USD4,525 | $3241 |
| PacifiCorp 3.30% 3/15/2051  | 150 | 98 |
| PacifiCorp 2.90% 6/15/2052  | 280 | 166 |
| PacifiCorp 5.35% 12/1/2053  | 525 | 472 |
| PacifiCorp 5.50% 5/15/2054  | 980 | 902 |
| PacifiCorp 5.80% 1/15/2055  | 500 | 479 |
| Panama (Republic of) 3.75% 4/17/2026  | 465 | 459 |
| Panama (Republic of) 7.50% 3/1/2031  | 415 | 443 |
| Panama (Republic of) 6.40% 2/14/2035  | 850 | 830 |
| Panama (Republic of) 8.00% 3/1/2038  | 755 | 811 |
| Panama (Republic of) 7.875% 3/1/2057  | 2015 | 2055 |
| Park Intermediate Holdings, LLC 5.875% 10/1/2028 <sup>(e)</sup>  | 65 | 65 |
| Park Intermediate Holdings, LLC 4.875% 5/15/2029 <sup>(e)</sup>  | 65 | 63 |
| Park Intermediate Holdings, LLC 7.00% 2/1/2030 <sup>(e)</sup>  | 55 | 57 |
| Party City Holdco, Inc. 12.00% PIK 1/11/2029 <sup>(e)(f)(i)(j)</sup>  | 2 | — <br><sup>(l)</sup><br>|
| PEAC Solutions Receivables, LLC, Series 2025-1A, Class A2, 4.94% 10/20/2028 <sup>(d)(e)</sup>  | 1059 | 1063 |
| Performance Food Group, Inc. 5.50% 10/15/2027 <sup>(e)</sup>  | 11 | 11 |
| Permian Resources Operating, LLC 9.875% 7/15/2031 <sup>(e)</sup>  | 3 | 3 |
| Permian Resources Operating, LLC 7.00% 1/15/2032 <sup>(e)</sup>  | 25 | 26 |
| Permian Resources Operating, LLC 6.25% 2/1/2033 <sup>(e)</sup>  | 106 | 107 |
| Petroleos Mexicanos 6.875% 10/16/2025  | 946 | 946 |
| Petroleos Mexicanos 6.875% 8/4/2026  | 638 | 639 |
| Petroleos Mexicanos 6.49% 1/23/2027  | 5999 | 5972 |
| Petroleos Mexicanos 6.50% 3/13/2027  | 6200 | 6161 |
| Petroleos Mexicanos 6.84% 1/23/2030  | 8494 | 8211 |
| Petroleos Mexicanos 5.95% 1/28/2031  | 65 | 59 |
| Petroleos Mexicanos 6.70% 2/16/2032  | 779 | 724 |
| Petroleos Mexicanos 6.95% 1/28/2060  | 55 | 40 |
| Petrorio Luxembourg Holding SARL 6.125% 6/9/2026  | 910 | 912 |
| Pfizer Investment Enterprises Pte., Ltd. 4.75% 5/19/2033  | 2128 | 2122 |
| Pfizer Investment Enterprises Pte., Ltd. 5.30% 5/19/2053  | 188 | 178 |
| PG&E Corp. 5.00% 7/1/2028  | 235 | 229 |
| PG&E Corp. 5.25% 7/1/2030  | 175 | 167 |
| PG&E Corp., junior subordinated, 7.375% 3/15/2055 (5-year UST Yield Curve Rate T Note Constant Maturity <br> + 3.883% on 3/15/2030) <sup>(a)</sup>  | 145 | 138 |
| Philip Morris International, Inc. 5.125% 11/17/2027  | 315 | 321 |
| Philip Morris International, Inc. 2.10% 5/1/2030  | 634 | 571 |
| Philip Morris International, Inc. 5.75% 11/17/2032  | 1554 | 1644 |
| Philip Morris International, Inc. 5.375% 2/15/2033  | 1382 | 1428 |
| PNC Financial Services Group, Inc. 5.676% 1/22/2035 (USD-SOFR + 1.902% on 1/22/2034) <sup>(a)</sup>  | 375 | 390 |
| POSCO Holdings, Inc. 4.875% 1/23/2027 <sup>(e)</sup>  | 510 | 512 |
| Post Holdings, Inc. 5.50% 12/15/2029 <sup>(e)</sup>  | 80 | 80 |
| Post Holdings, Inc. 4.625% 4/15/2030 <sup>(e)</sup>  | 444 | 427 |
| Post Holdings, Inc. 6.25% 2/15/2032 <sup>(e)</sup>  | 33 | 34 |
| Prestige Brands, Inc. 3.75% 4/1/2031 <sup>(e)</sup>  | 120 | 111 |
| Procter & Gamble Co. 3.00% 3/25/2030  | 338 | 323 |
| Progress Residential Trust, Series 2025-SFR3, Class A, 3.39% 7/17/2030 <sup>(d)(e)</sup>  | 902 | 850 |
| PRP Advisors, LLC, Series 2025-RPL3, Class A1, 3.25% 4/25/2055 (4.25% on 4/1/2028) <sup>(a)(d)(e)</sup>  | 833 | 798 |
| PT Bank Negara Indonesia (Persero) Tbk 4.30% junior subordinated perpetual bonds (5-year UST Yield <br> Curve Rate T Note Constant Maturity + 3.466% on 3/24/2027) <sup>(a)</sup>  | 2755 | 2633 |
| PT Freeport Indonesia 5.315% 4/14/2032  | 449 | 450 |
| Quikrete Holdings, Inc. 6.375% 3/1/2032 <sup>(e)</sup>  | 40 | 41 |
| Quikrete Holdings, Inc. 6.75% 3/1/2033 <sup>(e)</sup>  | 10 | 10 |
| Quikrete Holdings, Inc., Term Loan B3, (3-month USD CME Term SOFR + 2.25%) 6.577% 2/10/2032 <sup>(g)(h)</sup>  | 15 | 15 |
| Radiology Partners, Inc. 9.781% PIK 2/15/2030 <sup>(e)(i)</sup>  | 282 | 277 |
| Radiology Partners, Inc., Term Loan B, (3-month USD CME Term SOFR + 3.50%) 1.50% PIK and 6.591% <br> Cash 1/31/2029 <sup>(g)(h)(i)</sup>  | 9 | 9 |
| Raizen Fuels Finance SA 6.45% 3/5/2034 <sup>(e)</sup>  | 910 | 911 |
| Range Resources Corp. 4.75% 2/15/2030 <sup>(e)</sup>  | 145 | 141 |
| Reworld Holding Corp. 4.875% 12/1/2029 <sup>(e)</sup>  | 25 | 24 |
| RHP Hotel Properties, LP 7.25% 7/15/2028 <sup>(e)</sup>  | 80 | 83 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **206** |

---

------

Capital World Bond Fund<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **U.S. dollars (continued)** |  |  |
| RHP Hotel Properties, LP 4.50% 2/15/2029 <sup>(e)</sup>  | USD90 | $88 |
| RHP Hotel Properties, LP 6.50% 6/15/2033 <sup>(e)</sup>  | 30 | 31 |
| Rio Tinto Finance (USA) PLC 5.25% 3/14/2035  | 1420 | 1446 |
| RLJ Lodging Trust, LP 4.00% 9/15/2029 <sup>(e)</sup>  | 25 | 23 |
| Roller Bearing Company of America, Inc. 4.375% 10/15/2029 <sup>(e)</sup>  | 20 | 19 |
| Royal Bank of Canada 5.153% 2/4/2031 (USD-SOFR + 1.03% on 2/4/2030) <sup>(a)</sup>  | 1700 | 1736 |
| Royal Caribbean Cruises, Ltd. 5.50% 4/1/2028 <sup>(e)</sup>  | 75 | 76 |
| Royal Caribbean Cruises, Ltd. 6.00% 2/1/2033 <sup>(e)</sup>  | 90 | 92 |
| Ryan Specialty, LLC 4.375% 2/1/2030 <sup>(e)</sup>  | 45 | 44 |
| Ryan Specialty, LLC 5.875% 8/1/2032 <sup>(e)</sup>  | 20 | 20 |
| Sabre GLBL, Inc. 11.125% 7/15/2030 <sup>(e)</sup>  | 25 | 26 |
| Sally Holdings, LLC 6.75% 3/1/2032  | 107 | 110 |
| Sands China, Ltd. 5.40% 8/8/2028  | 2710 | 2732 |
| Santander Holdings USA, Inc. 3.244% 10/5/2026  | 3750 | 3693 |
| Sasol Financing USA, LLC 8.75% 5/3/2029 <sup>(b)</sup>  | 1330 | 1318 |
| Sats Treasury Pte., Ltd. 4.828% 1/23/2029  | 350 | 356 |
| Saturn Oil & Gas, Inc. 9.625% 6/15/2029 <sup>(e)</sup>  | 66 | 66 |
| Saudi Arabian Oil Co. 5.75% 7/17/2054 <sup>(e)</sup>  | 1040 | 977 |
| Scentre Group Trust 1 3.75% 3/23/2027 <sup>(e)</sup>  | 110 | 109 |
| SCF Equipment Trust, LLC, Series 2025-1A, Class A3, 5.11% 11/21/2033 <sup>(d)(e)</sup>  | 2846 | 2907 |
| Scientific Games Holdings, LP 6.625% 3/1/2030 <sup>(e)</sup>  | 46 | 44 |
| SCIH Salt Holdings, Inc. 4.875% 5/1/2028 <sup>(e)</sup>  | 115 | 112 |
| Sealed Air Corp. 6.125% 2/1/2028 <sup>(e)</sup>  | 180 | 183 |
| Sealed Air Corp. 6.50% 7/15/2032 <sup>(e)</sup>  | 123 | 128 |
| Securitized Term Auto Receivables Trust, Series 2025-A, Class B, 5.038% 7/25/2031 <sup>(d)(e)</sup>  | 158 | 160 |
| Securitized Term Auto Receivables Trust, Series 2025-B, Class B, 4.98% 12/29/2032 <sup>(d)(e)</sup>  | 826 | 829 |
| Serbia (Republic of) 6.25% 5/26/2028 <sup>(e)</sup>  | 740 | 766 |
| Service Corp. International 5.75% 10/15/2032  | 35 | 35 |
| Service Properties Trust 8.625% 11/15/2031 <sup>(e)</sup>  | 60 | 64 |
| ServiceNow, Inc. 1.40% 9/1/2030  | 756 | 655 |
| Simmons Foods, Inc. 4.625% 3/1/2029 <sup>(e)</sup>  | 80 | 76 |
| Sirius XM Radio, LLC 3.125% 9/1/2026 <sup>(e)</sup>  | 50 | 49 |
| Sirius XM Radio, LLC 4.00% 7/15/2028 <sup>(e)</sup>  | 195 | 187 |
| Sirius XM Radio, LLC 4.125% 7/1/2030 <sup>(e)</sup>  | 39 | 36 |
| Sirius XM Radio, LLC 3.875% 9/1/2031 <sup>(e)</sup>  | 111 | 99 |
| SK hynix, Inc. 1.50% 1/19/2026  | 563 | 554 |
| SLM Corp. 6.50% 1/31/2030  | 85 | 89 |
| SM Energy Co. 6.50% 7/15/2028  | 45 | 45 |
| SMB Private Education Loan Trust, Series 2023-C, Class A1B, (30-day Average USD-SOFR + 1.55%) <br>5.854% 11/15/2052 <sup>(d)(e)(h)</sup>  | 547 | 553 |
| SMRC Automotive Holdings Netherlands BV 5.625% 7/11/2029 <sup>(e)</sup>  | 595 | 605 |
| Sonic Automotive, Inc. 4.625% 11/15/2029 <sup>(e)</sup>  | 45 | 44 |
| Sonic Automotive, Inc. 4.875% 11/15/2031 <sup>(e)</sup>  | 20 | 19 |
| Southern California Edison Co. 2.85% 8/1/2029  | 200 | 185 |
| Southern California Edison Co. 3.65% 2/1/2050  | 1700 | 1125 |
| Southern California Edison Co. 5.90% 3/1/2055  | 1100 | 1007 |
| Spirit AeroSystems, Inc., Term Loan, (3-month CME Term SOFR + 4.25%) 8.78% 1/15/2027 <sup>(g)(h)</sup>  | 5 | 5 |
| Sprint, LLC 7.625% 3/1/2026  | 130 | 131 |
| Stagwell Global, LLC 5.625% 8/15/2029 <sup>(e)</sup>  | 115 | 110 |
| Starwood Mortgage Residential Trust, Series 2025-SFR5, Class A, (1-month USD CME Term SOFR + 1.45%) <br> 5.762% 2/17/2042 <sup>(d)(e)(h)</sup>  | 216 | 216 |
| State Street Corp. 5.146% 2/28/2036 (USD-SOFR + 1.217% on 2/28/2035) <sup>(a)</sup>  | 1450 | 1467 |
| Station Casinos, LLC 6.625% 3/15/2032 <sup>(e)</sup>  | 35 | 36 |
| Steele Creek CLO, Ltd., Series 2019-2A, Class ARR, (3-month USD CME Term SOFR + 1.00%) 5.256% <br>7/15/2032 <sup>(d)(e)(h)</sup>  | 1832 | 1832 |
| Stillwater Mining Co. 4.00% 11/16/2026 <sup>(b)</sup>  | 2090 | 2043 |
| Sunoco, LP 7.00% 5/1/2029 <sup>(e)</sup>  | 30 | 31 |
| Sunoco, LP 4.50% 5/15/2029  | 290 | 282 |
| Sunoco, LP 4.50% 4/30/2030  | 35 | 34 |
| Surgery Center Holdings, Inc. 7.25% 4/15/2032 <sup>(e)</sup>  | 45 | 46 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **207** | American Funds Insurance Series |

---

------

Capital World Bond Fund<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **U.S. dollars (continued)** |  |  |
| SWCH Commercial Mortgage Trust, Series 2025-DATA, Class A, (1-month USD CME Term SOFR + 1.443%) <br> 5.755% 3/15/2042 <sup>(d)(e)(h)</sup>  | USD6,917 | $6877 |
| Synopsys, Inc. 5.15% 4/1/2035  | 1410 | 1422 |
| Talen Energy Supply, LLC 8.625% 6/1/2030 <sup>(e)</sup>  | 69 | 74 |
| Talen Energy Supply, LLC, Term Loan B, (3-month USD CME Term SOFR + 2.50%) 6.808% 5/17/2030 <sup>(g)(h)</sup>  | 44 | 44 |
| Talos Production, Inc. 9.00% 2/1/2029 <sup>(e)</sup>  | 15 | 15 |
| Talos Production, Inc. 9.375% 2/1/2031 <sup>(e)</sup>  | 55 | 56 |
| Tenet Healthcare Corp. 6.125% 10/1/2028  | 25 | 25 |
| Teva Pharmaceutical Finance Netherlands III BV 5.125% 5/9/2029  | 455 | 458 |
| Teva Pharmaceutical Finance Netherlands III BV 6.00% 12/1/2032  | 200 | 204 |
| TGS ASA 8.50% 1/15/2030 <sup>(e)</sup>  | 200 | 207 |
| Tidewater, Inc. 9.125% 7/15/2030 <sup>(e)</sup>  | 10 | 10 |
| Tierra Mojada Luxembourg II SARL 5.75% 12/1/2040  | 863 | 816 |
| T-Mobile USA, Inc. 2.40% 3/15/2029  | 1079 | 1005 |
| T-Mobile USA, Inc. 5.65% 1/15/2053  | 1400 | 1355 |
| Toronto-Dominion Bank (The) 4.783% 12/17/2029  | 424 | 429 |
| TotalEnergies Capital SA 5.488% 4/5/2054  | 1500 | 1445 |
| TransDigm, Inc. 4.875% 5/1/2029  | 80 | 79 |
| TransDigm, Inc. 6.875% 12/15/2030 <sup>(e)</sup>  | 85 | 88 |
| TransDigm, Inc. 6.625% 3/1/2032 <sup>(e)</sup>  | 45 | 47 |
| TransDigm, Inc. 6.375% 5/31/2033 <sup>(e)</sup>  | 75 | 75 |
| Transocean Poseidon, Ltd. 6.875% 2/1/2027 <sup>(e)</sup>  | 39 | 39 |
| Transocean Titan Financing, Ltd. 8.375% 2/1/2028 <sup>(e)</sup>  | 92 | 94 |
| Transocean, Inc. 8.75% 2/15/2030 <sup>(e)</sup>  | 32 | 33 |
| Transocean, Inc. 6.80% 3/15/2038  | 35 | 25 |
| Treehouse Park Improvement Association No.1 9.75% 12/1/2033 <sup>(e)(f)</sup>  | 100 | 100 |
| Tricon Residential Trust, Series 2023-SFR1, Class B, 5.10% 7/17/2040 <sup>(d)(e)</sup>  | 251 | 252 |
| Tricon Residential Trust, Series 2023-SFR1, Class C, 5.10% 7/17/2040 <sup>(d)(e)</sup>  | 100 | 100 |
| Triumph Group, Inc. 9.00% 3/15/2028 <sup>(e)</sup>  | 57 | 60 |
| Truist Insurance Holdings, LLC, Term Loan, (3-month USD CME Term SOFR + 4.75%) 9.046% 5/6/2032 <sup>(g)(h)</sup>  | 124 | 125 |
| Turkey (Republic of) 7.125% 7/17/2032  | 1360 | 1363 |
| U.S. Bank National Association, Series 2025-SUP1, Class B, 5.582% 2/25/2032 <sup>(d)(e)</sup>  | 752 | 753 |
| U.S. Treasury 3.875% 5/31/2027  | 662 | 664 |
| U.S. Treasury 3.50% 9/30/2029  | 399 | 395 |
| U.S. Treasury 4.125% 10/31/2029  | 328 | 333 |
| U.S. Treasury 4.00% 5/31/2030  | 2995 | 3024 |
| U.S. Treasury 4.125% 11/30/2031  | 704 | 711 |
| U.S. Treasury 3.875% 8/15/2034  | 540 | 527 |
| U.S. Treasury 4.625% 2/15/2035 <sup>(m)</sup>  | 1681 | 1734 |
| U.S. Treasury 1.75% 8/15/2041 <sup>(m)</sup>  | 4650 | 3087 |
| U.S. Treasury 4.75% 11/15/2043  | 2650 | 2648 |
| U.S. Treasury 4.625% 5/15/2044  | 1210 | 1187 |
| U.S. Treasury 3.00% 8/15/2048 <sup>(m)</sup>  | 5045 | 3730 |
| U.S. Treasury 1.25% 5/15/2050  | 1625 | 781 |
| U.S. Treasury 4.75% 11/15/2053 <sup>(m)</sup>  | 4809 | 4763 |
| U.S. Treasury 4.25% 2/15/2054  | 681 | 621 |
| U.S. Treasury 4.625% 5/15/2054 <sup>(m)</sup>  | 5926 | 5755 |
| U.S. Treasury 4.50% 11/15/2054  | 143 | 136 |
| U.S. Treasury Inflation-Protected Security 0.125% 7/15/2026 <sup>(c)</sup>  | 837 | 830 |
| U.S. Treasury Inflation-Protected Security 2.375% 10/15/2028 <sup>(c)(m)</sup>  | 10569 | 10964 |
| U.S. Treasury Inflation-Protected Security 0.125% 2/15/2051 <sup>(c)</sup>  | 3487 | 1900 |
| U.S. Treasury Inflation-Protected Security 1.50% 2/15/2053 <sup>(c)</sup>  | 183 | 145 |
| U.S. Treasury Inflation-Protected Security 2.125% 2/15/2054 <sup>(c)(m)</sup>  | 5916 | 5416 |
| UKG, Inc. 6.875% 2/1/2031 <sup>(e)</sup>  | 77 | 80 |
| Uniform Mortgage-Backed Security 3.50% 7/1/2055 <sup>(d)(k)</sup>  | 3098 | 2789 |
| Uniform Mortgage-Backed Security 4.50% 7/1/2055 <sup>(d)(k)</sup>  | 4068 | 3892 |
| Uniform Mortgage-Backed Security 5.00% 7/1/2055 <sup>(d)(k)</sup>  | 171 | 168 |
| Uniform Mortgage-Backed Security 6.00% 7/1/2055 <sup>(d)(k)</sup>  | 5160 | 5244 |
| Uniform Mortgage-Backed Security 7.00% 7/1/2055 <sup>(d)(k)</sup>  | 183 | 193 |
| Uniform Mortgage-Backed Security 6.50% 8/1/2055 <sup>(d)(k)</sup>  | 6 | 6 |
| United Mexican States 6.00% 5/7/2036  | 970 | 960 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **208** |

---

------

Capital World Bond Fund<sup>®</sup> (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **U.S. dollars (continued)** |  |  |
| United Mexican States 6.338% 5/4/2053  | USD425 | $391 |
| United Natural Foods, Inc. 6.75% 10/15/2028 <sup>(e)</sup>  | 85 | 84 |
| United Rentals (North America), Inc. 3.875% 2/15/2031  | 130 | 122 |
| Univision Communications, Inc. 8.00% 8/15/2028 <sup>(e)</sup>  | 110 | 112 |
| Univision Communications, Inc. 4.50% 5/1/2029 <sup>(e)</sup>  | 250 | 228 |
| US Foods, Inc. 4.625% 6/1/2030 <sup>(e)</sup>  | 35 | 34 |
| Vail Resorts, Inc. 5.625% 7/15/2030 <sup>(e)</sup>  | 35 | 35 |
| Vail Resorts, Inc. 6.50% 5/15/2032 <sup>(e)</sup>  | 20 | 21 |
| Valvoline, Inc. 3.625% 6/15/2031 <sup>(e)</sup>  | 85 | 77 |
| Venator Material, LLC, Term Loan, (3-month USD CME Term SOFR + 2.00%) 8.00% PIK and 6.308% Cash <br>1/16/2026 <sup>(f)(g)(h)(i)</sup>  | 32 | 18 |
| Venator Material, LLC, Term Loan, (3-month USD CME Term SOFR + 8.00%) 8.00% PIK and 6.329% Cash <br>7/16/2026 <sup>(f)(g)(h)(i)</sup>  | 33 | 18 |
| Venator Material, LLC, Term Loan, (USD-SOFR + 10.00%) 8.00% PIK and 6.302% Cash 10/12/2028 <sup>(f)(g)(h)(i)</sup>  | 54 | 30 |
| Venture Global Calcasieu Pass, LLC 3.875% 8/15/2029 <sup>(e)</sup>  | 35 | 33 |
| Venture Global Calcasieu Pass, LLC 6.25% 1/15/2030 <sup>(e)</sup>  | 31 | 32 |
| Venture Global Calcasieu Pass, LLC 4.125% 8/15/2031 <sup>(e)</sup>  | 110 | 102 |
| Venture Global LNG, Inc. 8.125% 6/1/2028 <sup>(e)</sup>  | 80 | 83 |
| Venture Global LNG, Inc. 9.875% 2/1/2032 <sup>(e)</sup>  | 82 | 89 |
| Venture Global Plaquemines LNG, LLC 7.50% 5/1/2033 <sup>(e)</sup>  | 55 | 59 |
| Venture Global Plaquemines LNG, LLC 6.50% 1/15/2034 <sup>(e)</sup>  | 115 | 115 |
| Venture Global Plaquemines LNG, LLC 7.75% 5/1/2035 <sup>(e)</sup>  | 25 | 27 |
| Venture Global Plaquemines LNG, LLC 6.75% 1/15/2036 <sup>(e)</sup>  | 85 | 85 |
| Veralto Corp. 5.35% 9/18/2028  | 2900 | 2990 |
| Verus Securitization Trust, Series 2024-4, Class A1, 6.218% 6/25/2069 (7.218% on 5/1/2028) <sup>(a)(d)(e)</sup>  | 631 | 638 |
| Verus Securitization Trust, Series 2024-9, Class A1, 5.438% 11/25/2069 <sup>(d)(e)(h)</sup>  | 838 | 840 |
| Voyager Parent, LLC 9.25% 7/1/2032 <sup>(e)</sup>  | 150 | 156 |
| VZ Secured Financing BV 5.00% 1/15/2032 <sup>(e)</sup>  | 200 | 178 |
| Warrior Met Coal, Inc. 7.875% 12/1/2028 <sup>(e)</sup>  | 71 | 73 |
| WASH Multifamily Acquisition, Inc. 5.75% 4/15/2026 <sup>(e)</sup>  | 200 | 199 |
| Waste Management, Inc. 3.875% 1/15/2029  | 50 | 49 |
| Waste Pro USA, Inc. 7.00% 2/1/2033 <sup>(e)</sup>  | 20 | 21 |
| Weatherford International, Ltd. 8.625% 4/30/2030 <sup>(e)</sup>  | 93 | 96 |
| Wells Fargo & Co. 3.526% 3/24/2028 (USD-SOFR + 1.51% on 3/24/2027) <sup>(a)</sup>  | 4698 | 4633 |
| Wells Fargo & Co. 4.611% 4/25/2053 (USD-SOFR + 2.13% on 4/25/2052) <sup>(a)</sup>  | 1600 | 1365 |
| WESCO Distribution, Inc. 7.25% 6/15/2028 <sup>(e)</sup>  | 200 | 203 |
| WESCO Distribution, Inc. 6.625% 3/15/2032 <sup>(e)</sup>  | 150 | 156 |
| Westlake Automobile Receivables Trust, Series 2023-1, Class B, 5.41% 1/18/2028 <sup>(d)(e)</sup>  | 50 | 50 |
| Wingspire Equipment Finance, LLC, Series 2024-1A, Class A2, 4.99% 9/20/2032 <sup>(d)(e)</sup>  | 146 | 146 |
| WMG Acquisition Corp. 3.75% 12/1/2029 <sup>(e)</sup>  | 110 | 103 |
| WMG Acquisition Corp. 3.875% 7/15/2030 <sup>(e)</sup>  | 135 | 126 |
| WMG Acquisition Corp. 3.00% 2/15/2031 <sup>(e)</sup>  | 80 | 73 |
| Wolfspeed, Inc. 2.00% PIK and 9.875% Cash 6/23/2030 (13.875% on 6/22/2026) <sup>(a)(b)(i)</sup>  | 106 | 107 |
| Wynn Resorts Finance, LLC 7.125% 2/15/2031 <sup>(e)</sup>  | 43 | 46 |
| Ziggo BV 4.875% 1/15/2030 <sup>(e)</sup>  | 300 | 281 |
|  |  | 644142 |
| **Total bonds, notes & other debt instruments** (cost: $1,425,802,000) | **Total bonds, notes & other debt instruments** (cost: $1,425,802,000) | 1415113 |
| Preferred securities 0.01% | Shares |  |
| **U.S. dollars 0.01%** |  |  |
| ACR III LSC Holdings, LLC, Series B, preferred shares <sup>(e)(f)(n)</sup>  | 48 | 68 |
| **Total preferred securities** (cost: $49,000) |  | 68 |
| Common stocks 0.12% |  |  |
| **Norwegian kroner 0.12%** |  |  |
| Constellation Oil Services Holding SA (NDR) <sup>(n)</sup>  | 3958470 | 1767 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **209** | American Funds Insurance Series |

---

------

Capital World Bond Fund<sup>®</sup> (continued)

---

| | | | |
|:---|:---|:---|:---|
| Common stocks (continued) |  | Shares | Value<br> (000)<br>|
| **U.S. dollars 0.00%** | **U.S. dollars 0.00%** |  |  |
| Altera Infrastructure, LP <sup>(f)</sup>  | Altera Infrastructure, LP <sup>(f)</sup>  | 1441 | $45 |
| New Fortress Energy, Inc., Class A <sup>(n)</sup>  | New Fortress Energy, Inc., Class A <sup>(n)</sup>  | 4095 | 14 |
| DSG TopCo, Inc. <sup>(n)</sup>  | DSG TopCo, Inc. <sup>(n)</sup>  | 420 | 6 |
| Bighorn Permian Resources, LLC <sup>(f)</sup>  | Bighorn Permian Resources, LLC <sup>(f)</sup>  | 531 | — <br><sup>(l)</sup><br>|
| Party City Holdco, Inc. <sup>(f)(n)</sup>  | Party City Holdco, Inc. <sup>(f)(n)</sup>  | 80 | — <br><sup>(l)</sup><br>|
| Party City Holdco, Inc. <sup>(e)(f)(n)</sup>  | Party City Holdco, Inc. <sup>(e)(f)(n)</sup>  | 1 | — <br><sup>(l)</sup><br>|
| Venator Materials PLC <sup>(f)(n)</sup>  | Venator Materials PLC <sup>(f)(n)</sup>  | 232 | — <br><sup>(l)</sup><br>|
| Endo, Inc., 1L 6.125% Escrow <sup>(f)(n)</sup>  | Endo, Inc., 1L 6.125% Escrow <sup>(f)(n)</sup>  | 205000 | — <br><sup>(l)</sup><br>|
|  |  |  | 65 |
| **Total common stocks** (cost: $2,070,000) | **Total common stocks** (cost: $2,070,000) | **Total common stocks** (cost: $2,070,000) | 1832 |
| Investment funds 1.50% |  |  |  |
| Capital Group Central Corporate Bond Fund <sup>(o)</sup>  | Capital Group Central Corporate Bond Fund <sup>(o)</sup>  | 2612163 | 22047 |
| **Total investment funds** (cost: $20,457,000) | **Total investment funds** (cost: $20,457,000) | **Total investment funds** (cost: $20,457,000) | 22047 |
| Short-term securities 2.54% |  |  |  |
| **Money market investments 2.34%** | **Money market investments 2.34%** | **Money market investments 2.34%** | **Money market investments 2.34%** |
| Capital Group Central Cash Fund 4.35% <sup>(o)(p)</sup>  | Capital Group Central Cash Fund 4.35% <sup>(o)(p)</sup>  | 345182 | 34518 |
|  | Weighted<br> average yield<br> at acquisition<br>| Principal amount<br> (000)<br>|  |
| **Bills & notes of governments & government agencies outside the U.S. 0.20%** | **Bills & notes of governments & government agencies outside the U.S. 0.20%** | **Bills & notes of governments & government agencies outside the U.S. 0.20%** | **Bills & notes of governments & government agencies outside the U.S. 0.20%** |
| Egypt (Arab Republic of) 9/9/2025  | 21.356<br> %<br>| EGP150,475 | 2878 |
| **Total short-term securities** (cost: $37,370,000) | **Total short-term securities** (cost: $37,370,000) | **Total short-term securities** (cost: $37,370,000) | 37396 |
| Options purchased (equity style) 0.00% |  |  |  |
| Options purchased (equity style) \* | Options purchased (equity style) \* |  | 35 |
| **Total options purchased (equity style)** (cost: $21,000) | **Total options purchased (equity style)** (cost: $21,000) | **Total options purchased (equity style)** (cost: $21,000) | 35 |
| **Total investment securities 100.31%** (cost: $1,485,769,000) | **Total investment securities 100.31%** (cost: $1,485,769,000) | **Total investment securities 100.31%** (cost: $1,485,769,000) | 1476491 |
| **Total options written (equity style)** <sup>†</sup> **0.00%** (premium received: $121,000) | **Total options written (equity style)** <sup>†</sup> **0.00%** (premium received: $121,000) |  | (12)<br>|
| Other assets less liabilities (0.31)% | Other assets less liabilities (0.31)% |  | (4525)<br>|
| **Net assets 100.00%** | **Net assets 100.00%** |  | $1471954 |

---

<sup>\*</sup>**Options purchased (equity style)**

------

**Options on foreign currencies** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Description | Counterparty | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exercise <br>price<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value at <br>6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| **Call** |  |  |  |  |  |
| GBP/USD Foreign Currency Options | Goldman Sachs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD1.43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GBP3,625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $35 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **210** |

---

------

Capital World Bond Fund<sup>®</sup> (continued)

<sup>†</sup>**Options written (equity style)**

------

**Options on foreign currencies** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Description | Counterparty | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exercise <br>price<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value at <br>6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| **Call** |  |  |  |  |  |
| GBP/USD Foreign Currency Options | Goldman Sachs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD1.49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GBP(3,625)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(12)<br>|

---

**Options purchased (futures style)**

------

**Options on futures** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Description | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exercise <br>price<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value and <br>unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) at <br>6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| **Put** |  |  |  |  |  |
| 10 Year Euro-Bund Futures Options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 817 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/25/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EUR129.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EUR81,700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $64 |

---

**Options written (futures style)**

------

**Options on futures** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Description | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exercise <br>price<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value and <br>unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) at <br>6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| **Put** |  |  |  |  |  |
| 10 Year Euro-Bund Futures Options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (817)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/25/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EUR128.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EUR(81,700)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(39)<br>|

---

**Futures contracts**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Contracts | Type | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Value and <br>unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| 3 Month SONIA Futures | Long | 141 | 3/18/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD46,637 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $158 |
| 2 Year Italy Government Bond Futures | Long | 239 | 9/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (13)<br>|
| 2 Year Euro-Schatz Futures | Short | 300 | 9/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (37900)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 47 |
| 2 Year Canadian Government Bond Futures | Long | 394 | 9/29/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30572 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23 |
| 2 Year U.S. Treasury Note Futures | Long | 260 | 10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 54086 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 92 |
| 3 Year Australian Treasury Bond Futures | Short | 1 | 9/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (71)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(l)</sup><br>|
| 5 Year Euro-Bobl Futures | Long | 403 | 9/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 55864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (127)<br>|
| 5 Year Canadian Government Bond Futures | Long | 268 | 9/29/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22458 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 101 |
| 5 Year U.S. Treasury Note Futures | Long | 760 | 10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 82840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 884 |
| 10 Year French Government Bond Futures | Long | 46 | 9/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (24)<br>|
| 10 Year Italy Government Bond Futures | Short | 12 | 9/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1710)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5)<br>|
| 10 Year Euro-Bund Futures | Short | 683 | 9/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (104711)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 587 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **211** | American Funds Insurance Series |

---

------

Capital World Bond Fund<sup>®</sup> (continued)

**Futures contracts** (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Contracts | Type | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of<br> contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration<br> date<br>| &nbsp;&nbsp;&nbsp;&nbsp; Notional<br> amount<br> &nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Value and<br> unrealized<br> appreciation<br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation)<br> at 6/30/2025<br> &nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| 10 Year Australian Treasury Bond Futures | Short | 118 | 9/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD(8,901)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(99)<br>|
| 10 Year Japanese Government Bond Futures | Short | 106 | 9/22/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (102331)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (348)<br>|
| 10 Year Canadian Government Bond Futures | Long | 21 | 9/29/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1881 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| 10 Year Ultra U.S. Treasury Note Futures | Long | 275 | 9/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31423 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 678 |
| 10 Year UK Gilt Futures | Long | 220 | 9/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28094 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 375 |
| 10 Year U.S. Treasury Note Futures | Long | 217 | 9/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 469 |
| 20 Year U.S. Treasury Bond Futures | Long | 115 | 9/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13279 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 467 |
| 30 Year Euro-Buxl Futures | Short | 46 | 9/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6434)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 68 |
| 30 Year Ultra U.S. Treasury Bond Futures | Long | 2 | 9/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 238 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $3339 |

---

**Forward currency contracts**

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Contract amount | Contract amount | Contract amount | Contract amount | Counterparty | &nbsp;&nbsp; Settlement <br>date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| Currency purchased <br>(000) | Currency purchased <br>(000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Currency sold <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Currency sold <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) | Counterparty | &nbsp;&nbsp; Settlement <br>date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| GBP | 3740 | USD | 5131 | Morgan Stanley | 7/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $3 |
| USD | 5044 | GBP | 3740 | Morgan Stanley | 7/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (90)<br>|
| JPY | 772730 | USD | 5329 | Goldman Sachs | 7/7/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 41 |
| USD | 1689 | JPY | 245540 | BNP Paribas | 7/7/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (17)<br>|
| EUR | 14600 | USD | 16776 | Citibank | 7/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 431 |
| USD | 1028 | EUR | 890 | UBS AG | 7/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (20)<br>|
| USD | 1739 | EUR | 1510 | Morgan Stanley | 7/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (40)<br>|
| USD | 9018 | EUR | 8155 | BNP Paribas | 7/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (594)<br>|
| EUR | 18217 | USD | 20946 | HSBC Bank | 7/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 527 |
| USD | 583 | EUR | 505 | JPMorgan Chase | 7/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (13)<br>|
| USD | 487 | EUR | 427 | HSBC Bank | 7/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (16)<br>|
| USD | 2802 | ZAR | 50000 | UBS AG | 7/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (20)<br>|
| CNH | 269622 | USD | 37612 | Citibank | 7/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 98 |
| EUR | 2692 | USD | 3085 | Standard Chartered Bank | 7/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 89 |
| GBP | 800 | USD | 1082 | Morgan Stanley | 7/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17 |
| AUD | 2600 | USD | 1696 | Standard Chartered Bank | 7/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15 |
| TRY | 7670 | USD | 189 | Citibank | 7/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| INR | 25000 | USD | 291 | Standard Chartered Bank | 7/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(l)</sup><br>|
| USD | 858 | NOK | 8645 | Citibank | 7/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(l)</sup><br>|
| SEK | 11225 | USD | 1191 | BNP Paribas | 7/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4)<br>|
| USD | 1731 | CLP | 1623750 | Morgan Stanley | 7/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (12)<br>|
| USD | 1483 | BRL | 8200 | UBS AG | 7/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (21)<br>|
| USD | 3273 | IDR | 53437025 | HSBC Bank | 7/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (22)<br>|
| USD | 14248 | AUD | 21747 | Citibank | 7/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (69)<br>|
| USD | 2353 | BRL | 13480 | Citibank | 7/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (119)<br>|
| EUR | 5075 | USD | 5803 | BNP Paribas | 7/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 182 |
| CAD | 5525 | USD | 4039 | Bank of New York Mellon | 7/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21 |
| USD | 863 | EUR | 745 | Barclays Bank PLC | 7/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (16)<br>|
| EUR | 34176 | USD | 39311 | Bank of America | 7/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 992 |
| USD | 3474 | NOK | 34365 | BNP Paribas | 7/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 64 |
| EUR | 4922 | GBP | 4185 | BNP Paribas | 7/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60 |
| CNH | 368432 | USD | 51481 | HSBC Bank | 7/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 56 |
| JPY | 1690218 | USD | 11717 | Citibank | 7/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 43 |
| CNH | 68468 | USD | 9559 | Citibank | 7/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19 |
| NZD | 2799 | USD | 1704 | UBS AG | 7/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 |
| NOK | 34365 | USD | 3412 | UBS AG | 7/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **212** |

---

------

Capital World Bond Fund<sup>®</sup> (continued)

**Forward currency contracts** (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Contract amount | Contract amount | Contract amount | Contract amount | Counterparty | &nbsp;&nbsp; Settlement<br> date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized<br> appreciation<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation)<br> at 6/30/2025<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| Currency purchased<br> (000) | Currency purchased<br> (000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Currency sold<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Currency sold<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) | Counterparty | &nbsp;&nbsp; Settlement<br> date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized<br> appreciation<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation)<br> at 6/30/2025<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| USD | 2711 | EUR | 2330 | Citibank | 7/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(37)<br>|
| USD | 16932 | EUR | 14600 | UBS AG | 7/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (285)<br>|
| CAD | 16013 | USD | 11740 | Bank of New York Mellon | 7/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31 |
| JPY | 2279574 | USD | 15876 | JPMorgan Chase | 7/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (13)<br>|
| USD | 15723 | JPY | 2244750 | HSBC Bank | 7/18/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 101 |
| JPY | 1135410 | USD | 7835 | Bank of New York Mellon | 7/18/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 67 |
| COP | 2800000 | USD | 663 | Morgan Stanley | 7/18/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20 |
| GBP | 1535 | USD | 2090 | Standard Chartered Bank | 7/18/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17 |
| IDR | 14450980 | USD | 887 | Citibank | 7/18/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 |
| USD | 10414 | KRW | 14246054 | Citibank | 7/18/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (127)<br>|
| USD | 10075 | GBP | 7445 | UBS AG | 7/18/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (145)<br>|
| USD | 13205 | BRL | 73862 | Citibank | 7/18/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (327)<br>|
| MYR | 20815 | USD | 4902 | Standard Chartered Bank | 7/21/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 41 |
| THB | 190470 | USD | 5839 | Citibank | 7/21/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40 |
| SEK | 32900 | USD | 3466 | Morgan Stanley | 7/21/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17 |
| MYR | 3215 | USD | 758 | JPMorgan Chase | 7/21/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 |
| PLN | 6680 | EUR | 1567 | HSBC Bank | 7/21/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 |
| USD | 273 | PLN | 1000 | Citibank | 7/21/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4)<br>|
| USD | 2280 | CAD | 3109 | HSBC Bank | 7/21/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6)<br>|
| USD | 899 | MYR | 3934 | HSBC Bank | 7/21/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (36)<br>|
| USD | 1343 | MYR | 5889 | BNP Paribas | 7/21/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (55)<br>|
| USD | 1304 | MYR | 5740 | Standard Chartered Bank | 7/21/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (58)<br>|
| USD | 1618 | MYR | 7113 | Standard Chartered Bank | 7/21/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (71)<br>|
| USD | 2922 | MYR | 12851 | Standard Chartered Bank | 7/21/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (130)<br>|
| USD | 3562 | MYR | 15578 | HSBC Bank | 7/21/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (137)<br>|
| USD | 3587 | MYR | 15720 | Standard Chartered Bank | 7/21/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (145)<br>|
| JPY | 388645 | USD | 2751 | Standard Chartered Bank | 7/22/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (45)<br>|
| USD | 5272 | EUR | 4580 | HSBC Bank | 7/24/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (132)<br>|
| GBP | 3981 | EUR | 4620 | BNP Paribas | 7/25/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13 |
| USD | 5494 | EUR | 4805 | UBS AG | 7/25/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (177)<br>|
| CHF | 3497 | USD | 4361 | Barclays Bank PLC | 7/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 63 |
| MXN | 35424 | USD | 1859 | Morgan Stanley | 7/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23 |
| DKK | 46980 | EUR | 6299 | Bank of America | 7/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(l)</sup><br>|
| USD | 5237 | NOK | 52916 | Bank of America | 7/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (14)<br>|
| USD | 11415 | DKK | 73090 | Bank of America | 7/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (151)<br>|
| CZK | 18000 | USD | 852 | Citibank | 8/6/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 |
| SGD | 1400 | USD | 1102 | Bank of America | 8/6/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 |
| CZK | 47290 | EUR | 1908 | Citibank | 8/6/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 |
| HUF | 1284310 | EUR | 3202 | Goldman Sachs | 8/6/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4)<br>|
| USD | 1812 | HUF | 619035 | HSBC Bank | 8/6/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (9)<br>|
| USD | 3156 | EUR | 2710 | UBS AG | 8/6/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (45)<br>|
| EUR | 5100 | CAD | 8144 | Citibank | 8/7/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31 |
| USD | 5132 | GBP | 3740 | Morgan Stanley | 8/11/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3)<br>|
| EUR | 4535 | USD | 5211 | HSBC Bank | 9/12/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 157 |
| EUR | 1760 | USD | 2053 | UBS AG | 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31 |
| USD | 1567 | EUR | 1362 | UBS AG | 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (46)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $61 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **213** | American Funds Insurance Series |

---

------

Capital World Bond Fund<sup>®</sup> (continued)

**Swap contracts**

------

**Interest rate swaps**

**Centrally cleared interest rate swaps** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | Receive | Pay | Pay | Expiration <br>date | Notional <br>amount <br>(000) | Value at <br>6/30/2025 <br>(000) | Upfront <br>premium <br>paid <br>(received) <br>(000) | Unrealized <br>appreciation <br>(depreciation) <br>at 6/30/2025 <br>(000) |
| Rate | Payment <br>frequency<br>| Rate | Payment <br>frequency<br>| Expiration <br>date | Notional <br>amount <br>(000) | Value at <br>6/30/2025 <br>(000) | Upfront <br>premium <br>paid <br>(received) <br>(000) | Unrealized <br>appreciation <br>(depreciation) <br>at 6/30/2025 <br>(000) |
| 5.298% | Annual | 6-month PLN-WIBOR | Semi-annual | 2/14/2026 | PLN14,940 | $3 | $— | $3 |
| 6-month CZK-PRIBOR | Semi-annual | 3.875% | Annual | 2/14/2026 | CZK83,740 | (8)<br>|  | (8)<br>|
| 6-month EURIBOR | Semi-annual | 2.2032% | Annual | 2/10/2027 | EUR9,730 | (33)<br>|  | (33)<br>|
| 6-month EURIBOR | Semi-annual | 2.2007% | Annual | 2/10/2027 | EUR9,720 | (33)<br>|  | (33)<br>|
| 4.254% | Annual | SONIA | Annual | 5/9/2027 | GBP4,083 | 62 |  | 62 |
| 2.5225% | Semi-annual | Bank of Canada Overnight Repo | Semi-annual | 5/22/2027 | CAD25,620 | 21 |  | 21 |
| 3.5175% | Annual | SOFR | Annual | 8/15/2027 | USD24,180 | 25 |  | 25 |
| 3.968% | Annual | SONIA | Annual | 2/16/2029 | GBP13,830 | 226 |  | 226 |
| 6-month EURIBOR | Semi-annual | 2.8272% | Annual | 6/18/2029 | EUR5,930 | (172)<br>|  | (172)<br>|
| 3.4928% | Annual | SONIA | Annual | 8/6/2029 | GBP5,260 | (35)<br>|  | (35)<br>|
| SOFR | Annual | 3.4705% | Annual | 2/10/2030 | USD16,910 | (39)<br>|  | (39)<br>|
| 3.925% | Annual | 6-month NOK-NIBOR | Semi-annual | 3/5/2030 | NOK32,270 | 26 |  | 26 |
| 6-month EURIBOR | Semi-annual | 2.2577% | Annual | 3/5/2030 | EUR2,690 | (1)<br>|  | (1)<br>|
| 6-month EURIBOR | Semi-annual | 2.2562% | Annual | 3/5/2030 | EUR2,690 | (1)<br>|  | (1)<br>|
| 6-month EURIBOR | Semi-annual | 2.2592% | Annual | 3/5/2030 | EUR2,690 | (2)<br>|  | (2)<br>|
| 6-month EURIBOR | Semi-annual | 2.1912% | Annual | 3/6/2030 | EUR2,500 | 7 |  | 7 |
| 4.165% | Annual | 6-month NOK-NIBOR | Semi-annual | 3/24/2030 | NOK26,280 | 47 |  | 47 |
| 4.1703% | Annual | 6-month NOK-NIBOR | Semi-annual | 3/24/2030 | NOK16,900 | 31 |  | 31 |
| 4.162% | Annual | 6-month NOK-NIBOR | Semi-annual | 3/24/2030 | NOK16,890 | 30 |  | 30 |
| 4.165% | Annual | 6-month NOK-NIBOR | Semi-annual | 3/25/2030 | NOK62,070 | 112 |  | 112 |
| 2.2053% | Annual | 6-month EURIBOR | Semi-annual | 4/22/2030 | EUR6,330 | (17)<br>|  | (17)<br>|
| 2.2033% | Annual | 6-month EURIBOR | Semi-annual | 4/22/2030 | EUR6,350 | (18)<br>|  | (18)<br>|
| 3-month SEK-STIBOR | Quarterly | 2.3527% | Annual | 4/22/2030 | SEK67,510 | (67)<br>|  | (67)<br>|
| 3-month SEK-STIBOR | Quarterly | 2.3532% | Annual | 4/22/2030 | SEK67,510 | (68)<br>|  | (68)<br>|
| SONIA | Annual | 3.9322% | Annual | 2/16/2054 | GBP3,550 | 412 |  | 412 |
|  |  |  |  |  |  | $508 | $— | $508 |

---

**Bilateral interest rate swaps** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | Receive | Pay | Pay | Counterparty | Expiration <br>date | Notional <br>amount <br>(000) | Value at <br>6/30/2025 <br>(000) | Upfront <br>premium <br>paid <br>(received) <br>(000) | Unrealized <br>appreciation <br>(depreciation) <br>at 6/30/2025 <br>(000) |
| Rate | &nbsp;&nbsp; Payment <br>frequency<br>| Rate | &nbsp;&nbsp; Payment <br>frequency<br>| Counterparty | Expiration <br>date | Notional <br>amount <br>(000) | Value at <br>6/30/2025 <br>(000) | Upfront <br>premium <br>paid <br>(received) <br>(000) | Unrealized <br>appreciation <br>(depreciation) <br>at 6/30/2025 <br>(000) |
| 12.215% | At maturity | BZDIOVER | At maturity | Bank of America | &nbsp;&nbsp; 1/4/2027 | &nbsp;&nbsp; BRL44,390 | &nbsp;&nbsp; $(255)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(255)<br>|
| 11.22441676% | At maturity | BZDIOVER | At maturity | Goldman Sachs | &nbsp;&nbsp; 1/4/2027 | &nbsp;&nbsp; BRL30,865 | &nbsp;&nbsp; (321)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (321)<br>|
| 11.91% | At maturity | BZDIOVER | At maturity | Barclays Bank PLC | &nbsp;&nbsp; 1/4/2027 | &nbsp;&nbsp; BRL79,860 | &nbsp;&nbsp; (542)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (542)<br>|
| 11.405% | At maturity | BZDIOVER | At maturity | Goldman Sachs | &nbsp;&nbsp; 1/4/2027 | &nbsp;&nbsp; BRL100,270 | &nbsp;&nbsp; (870)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (870)<br>|
| 13.995% | At maturity | BZDIOVER | At maturity | Barclays Bank PLC | &nbsp;&nbsp; 1/2/2029 | &nbsp;&nbsp; BRL52,510 | &nbsp;&nbsp; 316 | &nbsp;&nbsp; — | &nbsp;&nbsp; 316 |
| 14.115% | At maturity | BZDIOVER | At maturity | Goldman Sachs | &nbsp;&nbsp; 1/2/2029 | &nbsp;&nbsp; BRL14,440 | &nbsp;&nbsp; 98 | &nbsp;&nbsp; — | &nbsp;&nbsp; 98 |
| 14.05% | At maturity | BZDIOVER | At maturity | Barclays Bank PLC | &nbsp;&nbsp; 1/2/2029 | &nbsp;&nbsp; BRL10,600 | &nbsp;&nbsp; 67 | &nbsp;&nbsp; — | &nbsp;&nbsp; 67 |
| 14.05% | At maturity | BZDIOVER | At maturity | Goldman Sachs | &nbsp;&nbsp; 1/2/2029 | &nbsp;&nbsp; BRL6,440 | &nbsp;&nbsp; 41 | &nbsp;&nbsp; — | &nbsp;&nbsp; 41 |
| 11.495% | At maturity | BZDIOVER | At maturity | Bank of America | &nbsp;&nbsp; 1/2/2029 | &nbsp;&nbsp; BRL35,980 | &nbsp;&nbsp; (389)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (389)<br>|
| 10.045% | At maturity | BZDIOVER | At maturity | Goldman Sachs | &nbsp;&nbsp; 1/2/2029 | &nbsp;&nbsp; BRL55,145 | &nbsp;&nbsp; (1313)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (1313)<br>|
|  |  |  |  |  |  |  | &nbsp;&nbsp; $(3168)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(3168)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **214** |

---

------

Capital World Bond Fund<sup>®</sup> (continued)

**Swap contracts** (continued)

------

**Credit default swaps** 

**Centrally cleared credit default swaps on credit indices — buy protection** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Reference <br>index<br>| &nbsp;&nbsp;&nbsp;&nbsp; Financing <br>rate paid<br>| &nbsp;&nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| &nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Value at <br>6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Upfront <br>premium <br>paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(received) <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| CDX.NA.IG.44 | 1.00% | Quarterly | &nbsp;&nbsp;&nbsp;&nbsp; 6/20/2030 | &nbsp;&nbsp;&nbsp;&nbsp; USD2,037 | &nbsp;&nbsp;&nbsp;&nbsp; $(45)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(41)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(4)<br>|
| CDX.EM.43 | 1.00% | Quarterly | &nbsp;&nbsp;&nbsp;&nbsp; 6/20/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 9890 | &nbsp;&nbsp;&nbsp;&nbsp; 246 | &nbsp;&nbsp;&nbsp;&nbsp; 350 | &nbsp;&nbsp;&nbsp;&nbsp; (104)<br>|
| CDX.NA.HY.44 | 5.00% | Quarterly | &nbsp;&nbsp;&nbsp;&nbsp; 6/20/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 11405 | &nbsp;&nbsp;&nbsp;&nbsp; (856)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (735)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (121)<br>|
| ITRAXX.EUR.43 | 1.00% | Quarterly | &nbsp;&nbsp;&nbsp;&nbsp; 6/20/2030 | &nbsp;&nbsp;&nbsp;&nbsp; EUR15,490 | &nbsp;&nbsp;&nbsp;&nbsp; (389)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (194)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (195)<br>|
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; $(1044)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(620)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(424)<br>|

---

**Credit default swaps** 

**Centrally cleared credit default swaps on credit indices — sell protection** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Reference <br>index<br>| &nbsp;&nbsp;&nbsp;&nbsp; Financing <br>rate received<br>| &nbsp;&nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| &nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <sup>(q)</sup> <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Value at <br>6/30/2025 <sup>(r)</sup> <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Upfront <br>premium <br>paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(received) <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| ITRAXX.EUR.XO.43 | 5.00% | Quarterly | &nbsp;&nbsp;&nbsp;&nbsp; 6/20/2030 | &nbsp;&nbsp;&nbsp;&nbsp; EUR3,520 | &nbsp;&nbsp;&nbsp;&nbsp; $386 | &nbsp;&nbsp;&nbsp;&nbsp; $371 | &nbsp;&nbsp;&nbsp;&nbsp; $15 |

---

**Investments in affiliates** <sup>(o)</sup>

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>1/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>6/30/2025 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Investment funds 1.50%** |  |  |  |  |  |  |  |
| Capital Group Central Corporate Bond Fund  | $21147 | &nbsp;&nbsp; $513 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $387 | &nbsp;&nbsp; $22047 | &nbsp;&nbsp; $513 |
| **Short-term securities 2.34%** |  |  |  |  |  |  |  |
| **Money market investments 2.34%** |  |  |  |  |  |  |  |
| Capital Group Central Cash Fund 4.35% <sup>(p)</sup>  | 23214 | &nbsp;&nbsp; 269520 | &nbsp;&nbsp; 258213 | &nbsp;&nbsp; (1)<br>| &nbsp;&nbsp; (2)<br>| &nbsp;&nbsp; 34518 | &nbsp;&nbsp; 858 |
| **Total 3.84%** |  |  |  | &nbsp;&nbsp; $(1)<br>| &nbsp;&nbsp; $385 | &nbsp;&nbsp; $56565 | &nbsp;&nbsp; $1371 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **215** | American Funds Insurance Series |

---

------

Capital World Bond Fund<sup>®</sup> (continued)

**Restricted securities** <sup>(b)</sup>

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Acquisition <br>date(s)<br>| Cost <br>(000)<br>| Value <br>(000)<br>| Percent <br>of net <br>assets<br>|
| Bank of America Corp. 3.648% 3/31/2029 (3-month <br> EUR-EURIBOR + 3.67% on 3/31/2028) <sup>(a)</sup> <br>| 5/19/2020 | $5770 | $6058 | 0.41<br> %<br>|
| Metropolitan Life Global Funding I 0.55% 6/16/2027  | 12/11/2023 | 2040 | 2280 | 0.15 |
| Stillwater Mining Co. 4.00% 11/16/2026  | 1/26/2024-2/20/2024 | 1971 | 2043 | 0.14 |
| Sasol Financing USA, LLC 8.75% 5/3/2029  | 7/18/2023-2/16/2024 | 1338 | 1318 | 0.09 |
| Wolfspeed, Inc. 2.00% PIK and 9.875% Cash 6/23/2030 <br> (13.875% on 6/22/2026) <sup>(a)(i)</sup> <br>| 6/23/2023-3/24/2025 | 104 | 107 | 0.01 |
| Finastra USA, Inc., Term Loan B, (3-month USD CME Term SOFR <br> + 7.25%) 11.428% 9/13/2029 <sup>(g)(h)</sup> <br>| 9/13/2023 | 94 | 96 | 0.01 |
| Finastra USA, Inc., Term Loan, (3-month USD CME Term SOFR + <br> 7.25%) 11.428% 9/13/2029 <sup>(g)(h)</sup> <br>| 9/13/2023-6/13/2025 | 2 | 2 | 0.00 <br><sup>(s)</sup><br>|
| **Total** |  | $11319 | $11904 | 0.81<br> %<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Step bond; coupon rate may change at a later date.

<sup>(b)</sup> Restricted security, other than Rule 144A securities or commercial paper issued pursuant to Section 4(a)(2) of the Securities Act of 1933. The total value of all such restricted securities was $11,904,000, which represented 0.81% of the net assets of the fund. 

<sup>(c)</sup> Index-linked bond whose principal amount moves with a government price index. 

<sup>(d)</sup> Principal payments may be made periodically. Therefore, the effective maturity date may be earlier than the stated maturity date.

<sup>(e)</sup> Acquired in a transaction exempt from registration under Rule 144A or, for commercial paper, Section 4(a)(2) of the Securities Act of 1933. May be resold in the U.S. in transactions exempt from registration, normally to qualified institutional buyers. The total value of all such securities was $155,722,000, which represented 10.58% of the net assets of the fund. 

<sup>(f)</sup> Value determined using significant unobservable inputs.

<sup>(g)</sup> Loan participations and assignments; may be subject to legal or contractual restrictions on resale. The total value of all such loans was $2,037,000, which represented 0.14% of the net assets of the fund. 

<sup>(h)</sup> Coupon rate may change periodically. Reference rate and spread are as of the most recent information available. Some coupon rates are determined by the issuer or agent based on current market conditions; therefore, the reference rate and spread are not available. 

<sup>(i)</sup> Payment in kind; the issuer has the option of paying additional securities in lieu of cash. Payment methods and rates are as of the most recent payment when available. 

<sup>(j)</sup> Scheduled interest and/or principal payment was not received.

<sup>(k)</sup> Represents securities transacted on a TBA basis.

<sup>(l)</sup> Amount less than one thousand.

<sup>(m)</sup> All or a portion of this security was pledged as collateral. The total value of pledged collateral was $13,222,000, which represented 0.90% of the net assets of the fund. 

<sup>(n)</sup> Security did not produce income during the last 12 months.

<sup>(o)</sup> Part of the same "group of investment companies" as the fund as defined under the Investment Company Act of 1940, as amended.

<sup>(p)</sup> Rate represents the seven-day yield at 6/30/2025.

<sup>(q)</sup> The maximum potential amount the fund may pay as a protection seller should a credit event occur.

<sup>(r)</sup> The prices and resulting values for credit default swap indices serve as an indicator of the current status of the payment/performance risk. As the value of a sell protection credit default swap increases or decreases, when compared to the notional amount of the swap, the payment/performance risk may decrease or increase, respectively. 

<sup>(s)</sup> Amount less than 0.01%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **216** |

---

------

Capital World Bond Fund<sup>®</sup> (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **Key to abbreviation(s)** |
| Assn. = Association |
| AUD = Australian dollars |
| BRL = Brazilian reais |
| BZDIOVER = Overnight Brazilian Interbank Deposit <br> Rate<br>|
| CAD = Canadian dollars |
| CHF = Swiss francs |
| CLO = Collateralized Loan Obligations |
| CLP = Chilean pesos |
| CME = CME Group |
| CNH = Chinese yuan renminbi |
| CNY = Chinese yuan renminbi |
| COP = Colombian pesos |
| CZK = Czech korunas |
| DAC = Designated Activity Company |
| DKK = Danish kroner |
| EGP = Egyptian pounds |

---

---

| |
|:---|
| EUR = Euros |
| EURIBOR = Euro Interbank Offered Rate |
| GBP = British pounds |
| HUF = Hungarian forints |
| ICE = Intercontinental Exchange, Inc. |
| IDR = Indonesian rupiah |
| INR = Indian rupees |
| JPY = Japanese yen |
| KRW = South Korean won |
| MXN = Mexican pesos |
| MYR = Malaysian ringgits |
| NDR = Norwegian Depositary Receipts |
| NIBOR = Norwegian Interbank Offered Rate |
| NOK = Norwegian kroner |
| NZD = New Zealand dollars |
| PIK = Payment In Kind |
| PLN = Polish zloty |

---

---

| |
|:---|
| PRIBOR = Prague Interbank Offered Rate |
| Ref. = Refunding |
| REIT = Real Estate Investment Trust |
| Rev. = Revenue |
| RSC = Restricted Scope Company |
| SEK = Swedish kronor |
| SGD = Singapore dollars |
| SOFR = Secured Overnight Financing Rate |
| SONIA = Sterling Overnight Interbank Average Rate |
| STIBOR = Stockholm Interbank Offered Rate |
| TBA = To be announced |
| THB = Thai baht |
| TRY = Turkish lira |
| USD = U.S. dollars |
| UST = U.S. Treasury |
| WIBOR = Warsaw Interbank Offered Rate |
| ZAR = South African rand |

---

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **217** | American Funds Insurance Series |

---

------

American High-Income Trust

**Investment portfolio** June 30, 2025unaudited

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments 88.27% | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans 88.17%** | **Corporate bonds, notes & loans 88.17%** | **Corporate bonds, notes & loans 88.17%** |
| **Communication services 13.96%** |  |  |
| CCO Holdings, LLC 5.50% 5/1/2026 <sup>(a)</sup>  | USD102 | $102 |
| CCO Holdings, LLC 5.00% 2/1/2028 <sup>(a)</sup>  | 586 | 581 |
| CCO Holdings, LLC 5.375% 6/1/2029 <sup>(a)</sup>  | 525 | 523 |
| CCO Holdings, LLC 6.375% 9/1/2029 <sup>(a)</sup>  | 445 | 454 |
| CCO Holdings, LLC 4.75% 3/1/2030 <sup>(a)</sup>  | 3281 | 3181 |
| CCO Holdings, LLC 4.50% 8/15/2030 <sup>(a)</sup>  | 2484 | 2370 |
| CCO Holdings, LLC 4.25% 2/1/2031 <sup>(a)</sup>  | 3164 | 2958 |
| CCO Holdings, LLC 7.375% 3/1/2031 <sup>(a)</sup>  | 70 | 73 |
| CCO Holdings, LLC 4.75% 2/1/2032 <sup>(a)</sup>  | 2708 | 2570 |
| CCO Holdings, LLC 4.50% 5/1/2032  | 2419 | 2254 |
| CCO Holdings, LLC 4.50% 6/1/2033 <sup>(a)</sup>  | 2232 | 2042 |
| CCO Holdings, LLC 4.25% 1/15/2034 <sup>(a)</sup>  | 4646 | 4139 |
| Charter Communications Operating, LLC 4.80% 3/1/2050  | 437 | 350 |
| Charter Communications Operating, LLC 3.70% 4/1/2051  | 473 | 315 |
| Charter Communications Operating, LLC 3.90% 6/1/2052  | 950 | 653 |
| Charter Communications Operating, LLC 5.25% 4/1/2053  | 577 | 491 |
| Charter Communications Operating, LLC 3.85% 4/1/2061  | 175 | 112 |
| Clear Channel Outdoor Holdings, Inc. 7.75% 4/15/2028 <sup>(a)</sup>  | 870 | 823 |
| Clear Channel Outdoor Holdings, Inc. 7.50% 6/1/2029 <sup>(a)</sup>  | 460 | 426 |
| Connect Finco SARL 9.00% 9/15/2029 <sup>(a)</sup>  | 6630 | 6672 |
| Consolidated Communications, Inc. 5.00% 10/1/2028 <sup>(a)</sup>  | 225 | 228 |
| Consolidated Communications, Inc. 6.50% 10/1/2028 <sup>(a)</sup>  | 80 | 82 |
| CSC Holdings, LLC 5.50% 4/15/2027 <sup>(a)</sup>  | 430 | 411 |
| CSC Holdings, LLC, Term Loan B, (USD Prime Rate + 1.50%) 9.00% 4/15/2027 <sup>(b)(c)</sup>  | 329 | 321 |
| CSC Holdings, LLC, Term Loan B, (3-month USD CME Term SOFR + 4.50%) 8.812% 1/18/2028 <sup>(b)(c)</sup>  | 1698 | 1676 |
| Cumulus Media New Holdings, Inc. 8.00% 7/1/2029 <sup>(a)</sup>  | 285 | 81 |
| Diamond Sports Net, LLC, Term Loan, 15.00% PIK 1/2/2028 <sup>(b)(d)</sup>  | 40 | 36 |
| DIRECTV Financing, LLC 5.875% 8/15/2027 <sup>(a)</sup>  | 4210 | 4199 |
| DIRECTV Financing, LLC, Term Loan, (3-month USD CME Term SOFR + 5.00%) 9.541% 8/2/2027 <sup>(b)(c)</sup>  | 209 | 210 |
| DISH Network Corp. 11.75% 11/15/2027 <sup>(a)</sup>  | 12368 | 12759 |
| EchoStar Corp. 10.75% 11/30/2029  | 4187 | 4316 |
| EchoStar Corp. 6.75% PIK 11/30/2030 <sup>(d)</sup>  | 3157 | 2883 |
| Embarq, LLC 7.995% 6/1/2036  | 4729 | 2171 |
| Frontier Communications Holdings, LLC 5.875% 10/15/2027 <sup>(a)</sup>  | 445 | 445 |
| Frontier Communications Holdings, LLC 5.00% 5/1/2028 <sup>(a)</sup>  | 35 | 35 |
| Frontier Communications Holdings, LLC 6.75% 5/1/2029 <sup>(a)</sup>  | 3755 | 3807 |
| Frontier Communications Holdings, LLC 5.875% 11/1/2029  | 2625 | 2653 |
| Frontier Communications Holdings, LLC 6.00% 1/15/2030 <sup>(a)</sup>  | 3261 | 3306 |
| Frontier Communications Holdings, LLC 8.75% 5/15/2030 <sup>(a)</sup>  | 50 | 52 |
| Frontier Communications Holdings, LLC 8.625% 3/15/2031 <sup>(a)</sup>  | 225 | 239 |
| Gray Media, Inc. 7.00% 5/15/2027 <sup>(a)</sup>  | 325 | 325 |
| Gray Media, Inc. 10.50% 7/15/2029 <sup>(a)</sup>  | 4250 | 4569 |
| Gray Media, Inc. 4.75% 10/15/2030 <sup>(a)</sup>  | 791 | 599 |
| Gray Media, Inc. 5.375% 11/15/2031 <sup>(a)</sup>  | 2538 | 1905 |
| Gray Television, Inc., Term Loan D, (3-month USD CME Term SOFR + 3.00%) 7.439% 12/1/2028 <sup>(b)(c)</sup>  | 2 | 2 |
| Gray Television, Inc., Term Loan B, (3-month USD CME Term SOFR + 5.25%) 9.574% 6/4/2029 <sup>(b)(c)</sup>  | 1124 | 1124 |
| Intelsat Jackson Holdings SA 6.50% 3/15/2030 <sup>(a)</sup>  | 6565 | 6711 |
| Lamar Media Corp. 4.00% 2/15/2030  | 260 | 249 |
| Lamar Media Corp. 3.625% 1/15/2031  | 160 | 148 |
| Level 3 Financing, Inc. 3.75% 7/15/2029 <sup>(a)</sup>  | 550 | 465 |
| Ligado Networks, LLC 17.50% PIK 11/1/2023 <sup>(a)(d)(e)</sup>  | 3213 | 1108 |
| Ligado Networks, LLC, Term Loan, 17.50% PIK 10/4/2025 <sup>(b)(d)(f)</sup>  | 688 | 688 |
| News Corp. 3.875% 5/15/2029 <sup>(a)</sup>  | 710 | 680 |
| Nexstar Media, Inc. 5.625% 7/15/2027 <sup>(a)</sup>  | 1254 | 1252 |
| Nexstar Media, Inc. 4.75% 11/1/2028 <sup>(a)</sup>  | 3780 | 3685 |
| Paramount Global 7.875% 7/30/2030  | 130 | 144 |
| Paramount Global 6.875% 4/30/2036  | 490 | 502 |
| Sinclair Television Group, Inc. 8.125% 2/15/2033 <sup>(a)</sup>  | 1240 | 1254 |
| Sirius XM Radio, LLC 3.125% 9/1/2026 <sup>(a)</sup>  | 1760 | 1728 |
| Sirius XM Radio, LLC 5.00% 8/1/2027 <sup>(a)</sup>  | 700 | 695 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **218** |

---

------

American High-Income Trust (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Communication services (continued)** |  |  |
| Sirius XM Radio, LLC 4.00% 7/15/2028 <sup>(a)</sup>  | USD3,489 | $3353 |
| Sirius XM Radio, LLC 5.50% 7/1/2029 <sup>(a)</sup>  | 590 | 587 |
| Sirius XM Radio, LLC 4.125% 7/1/2030 <sup>(a)</sup>  | 3100 | 2860 |
| Sirius XM Radio, LLC 3.875% 9/1/2031 <sup>(a)</sup>  | 5756 | 5120 |
| Snap, Inc. 6.875% 3/1/2033 <sup>(a)</sup>  | 1540 | 1581 |
| Sprint Capital Corp. 6.875% 11/15/2028  | 316 | 339 |
| Sprint Capital Corp. 8.75% 3/15/2032  | 716 | 869 |
| Sprint, LLC 7.625% 3/1/2026  | 480 | 485 |
| Stagwell Global, LLC 5.625% 8/15/2029 <sup>(a)</sup>  | 1285 | 1230 |
| TEGNA, Inc. 5.00% 9/15/2029  | 861 | 823 |
| T-Mobile USA, Inc. 3.375% 4/15/2029  | 860 | 828 |
| Univision Communications, Inc. 6.625% 6/1/2027 <sup>(a)</sup>  | 3170 | 3164 |
| Univision Communications, Inc. 8.00% 8/15/2028 <sup>(a)</sup>  | 2455 | 2493 |
| Univision Communications, Inc. 4.50% 5/1/2029 <sup>(a)</sup>  | 5170 | 4706 |
| Univision Communications, Inc. 7.375% 6/30/2030 <sup>(a)</sup>  | 2397 | 2357 |
| Univision Communications, Inc. 8.50% 7/31/2031 <sup>(a)</sup>  | 1235 | 1237 |
| Univision Communications, Inc., Term Loan, (3-month USD CME Term SOFR + 4.25%) 8.546% <br>6/24/2029 <sup>(b)(c)</sup>  | 68 | 68 |
| VMED O2 UK Financing I PLC 4.25% 1/31/2031 <sup>(a)</sup>  | 1300 | 1192 |
| WarnerMedia Holdings, Inc. 4.054% 3/15/2029  | 1027 | 956 |
| WarnerMedia Holdings, Inc. 4.279% 3/15/2032  | 490 | 412 |
| WarnerMedia Holdings, Inc. 5.05% 3/15/2042  | 405 | 273 |
| WMG Acquisition Corp. 3.75% 12/1/2029 <sup>(a)</sup>  | 1498 | 1405 |
| WMG Acquisition Corp. 3.875% 7/15/2030 <sup>(a)</sup>  | 957 | 895 |
| WMG Acquisition Corp. 3.00% 2/15/2031 <sup>(a)</sup>  | 225 | 204 |
| X Corp., Term Loan B3, 9.50% 10/26/2029 <sup>(b)</sup>  | 370 | 360 |
| X Corp., Term Loan B, (USD-SOFR + 6.50%) 10.927% 10/26/2029 <sup>(b)(c)</sup>  | 1464 | 1432 |
| Ziggo BV 4.875% 1/15/2030 <sup>(a)</sup>  | 865 | 809 |
|  |  | 138870 |
| **Energy 12.69%** |  |  |
| 3R Lux SARL 9.75% 2/5/2031 <sup>(a)</sup>  | 675 | 683 |
| Antero Midstream Partners, LP 5.375% 6/15/2029 <sup>(a)</sup>  | 620 | 616 |
| Antero Midstream Partners, LP 6.625% 2/1/2032 <sup>(a)</sup>  | 40 | 41 |
| Antero Resources Corp. 5.375% 3/1/2030 <sup>(a)</sup>  | 130 | 131 |
| Archrock Partners, LP 6.25% 4/1/2028 <sup>(a)</sup>  | 255 | 256 |
| Archrock Partners, LP 6.625% 9/1/2032 <sup>(a)</sup>  | 420 | 428 |
| Ascent Resources Utica Holdings, LLC 5.875% 6/30/2029 <sup>(a)</sup>  | 650 | 651 |
| Ascent Resources Utica Holdings, LLC 6.625% 10/15/2032 <sup>(a)</sup>  | 500 | 509 |
| Ascent Resources Utica Holdings, LLC 6.625% 7/15/2033 <sup>(a)</sup>  | 475 | 482 |
| Baytex Energy Corp. 8.50% 4/30/2030 <sup>(a)</sup>  | 645 | 646 |
| Baytex Energy Corp. 7.375% 3/15/2032 <sup>(a)</sup>  | 330 | 315 |
| BIP-V Chinook Holdco, LLC 5.50% 6/15/2031 <sup>(a)</sup>  | 1210 | 1196 |
| Blue Racer Midstream, LLC 7.00% 7/15/2029 <sup>(a)</sup>  | 125 | 131 |
| Borr IHC, Ltd. 10.00% 11/15/2028 <sup>(a)</sup>  | 2275 | 2079 |
| Borr IHC, Ltd. 10.375% 11/15/2030 <sup>(a)</sup>  | 1034 | 915 |
| California Resources Corp. 7.125% 2/1/2026 <sup>(a)</sup>  | 195 | 196 |
| California Resources Corp. 8.25% 6/15/2029 <sup>(a)</sup>  | 520 | 534 |
| Chord Energy Corp. 6.75% 3/15/2033 <sup>(a)</sup>  | 1315 | 1344 |
| CITGO Petroleum Corp. 8.375% 1/15/2029 <sup>(a)</sup>  | 1220 | 1272 |
| Civitas Resources, Inc. 5.00% 10/15/2026 <sup>(a)</sup>  | 585 | 578 |
| Civitas Resources, Inc. 8.375% 7/1/2028 <sup>(a)</sup>  | 740 | 759 |
| Civitas Resources, Inc. 8.625% 11/1/2030 <sup>(a)</sup>  | 730 | 742 |
| Civitas Resources, Inc. 8.75% 7/1/2031 <sup>(a)</sup>  | 2547 | 2578 |
| Civitas Resources, Inc. 9.625% 6/15/2033 <sup>(a)</sup>  | 290 | 298 |
| CNX Midstream Partners, LP 4.75% 4/15/2030 <sup>(a)</sup>  | 280 | 265 |
| CNX Resources Corp. 6.00% 1/15/2029 <sup>(a)</sup>  | 1504 | 1511 |
| CNX Resources Corp. 7.375% 1/15/2031 <sup>(a)</sup>  | 861 | 899 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **219** | American Funds Insurance Series |

---

------

American High-Income Trust (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Energy (continued)** |  |  |
| CNX Resources Corp. 7.25% 3/1/2032 <sup>(a)</sup>  | USD1,300 | $1347 |
| Comstock Resources, Inc. 6.75% 3/1/2029 <sup>(a)</sup>  | 405 | 406 |
| Comstock Resources, Inc. 5.875% 1/15/2030 <sup>(a)</sup>  | 890 | 865 |
| Constellation Oil Services Holding SA 9.375% 11/7/2029 <sup>(a)</sup>  | 2150 | 2190 |
| Crescent Energy Finance, LLC 9.25% 2/15/2028 <sup>(a)</sup>  | 1258 | 1312 |
| Crescent Energy Finance, LLC 7.625% 4/1/2032 <sup>(a)</sup>  | 1790 | 1749 |
| Crescent Energy Finance, LLC 7.375% 1/15/2033 <sup>(a)</sup>  | 1490 | 1426 |
| Crescent Energy Finance, LLC 8.375% 1/15/2034 <sup>(a)</sup>  | 495 | 496 |
| Diamond Foreign Asset Co. 8.50% 10/1/2030 <sup>(a)</sup>  | 420 | 438 |
| DT Midstream, Inc. 4.125% 6/15/2029 <sup>(a)</sup>  | 1408 | 1361 |
| DT Midstream, Inc. 4.375% 6/15/2031 <sup>(a)</sup>  | 307 | 294 |
| Encino Acquisition Partners Holdings, LLC 8.50% 5/1/2028 <sup>(a)</sup>  | 610 | 627 |
| Encino Acquisition Partners Holdings, LLC 8.75% 5/1/2031 <sup>(a)</sup>  | 1360 | 1503 |
| Energean Israel Finance, Ltd. 5.375% 3/30/2028 <sup>(a)</sup>  | 730 | 697 |
| Energean Israel Finance, Ltd. 5.875% 3/30/2031 <sup>(a)</sup>  | 765 | 707 |
| Energy Transfer, LP 6.00% 2/1/2029 <sup>(a)</sup>  | 55 | 56 |
| EQT Corp. 5.00% 1/15/2029  | 170 | 171 |
| EQT Corp. 6.375% 4/1/2029 <sup>(a)</sup>  | 185 | 191 |
| EQT Corp. 4.75% 1/15/2031 <sup>(a)</sup>  | 1350 | 1330 |
| EQT Corp. 3.625% 5/15/2031 <sup>(a)</sup>  | 290 | 269 |
| Expand Energy Corp. 6.75% 4/15/2029 <sup>(a)</sup>  | 635 | 643 |
| Expand Energy Corp. 5.375% 3/15/2030  | 1290 | 1295 |
| Expand Energy Corp. 4.75% 2/1/2032  | 290 | 282 |
| Expand Energy Corp. 4.875% 4/15/2032 <sup>(e)</sup>  | 4300 | 17 |
| Genesis Energy, LP 7.75% 2/1/2028  | 72 | 73 |
| Genesis Energy, LP 8.25% 1/15/2029  | 1545 | 1617 |
| Genesis Energy, LP 8.875% 4/15/2030  | 1225 | 1302 |
| Genesis Energy, LP 7.875% 5/15/2032  | 2540 | 2643 |
| Global Partners, LP 6.875% 1/15/2029  | 135 | 137 |
| Global Partners, LP 8.25% 1/15/2032 <sup>(a)</sup>  | 460 | 484 |
| Global Partners, LP 7.125% 7/1/2033 <sup>(a)</sup>  | 265 | 269 |
| Harbour Energy PLC 5.50% 10/15/2026 <sup>(a)</sup>  | 1065 | 1054 |
| Harvest Midstream I, LP 7.50% 9/1/2028 <sup>(a)</sup>  | 1392 | 1417 |
| Harvest Midstream I, LP 7.50% 5/15/2032 <sup>(a)</sup>  | 820 | 867 |
| Hess Midstream Operations, LP 5.875% 3/1/2028 <sup>(a)</sup>  | 845 | 858 |
| Hess Midstream Operations, LP 5.125% 6/15/2028 <sup>(a)</sup>  | 361 | 359 |
| Hess Midstream Operations, LP 6.50% 6/1/2029 <sup>(a)</sup>  | 455 | 468 |
| Hess Midstream Operations, LP 4.25% 2/15/2030 <sup>(a)</sup>  | 1430 | 1376 |
| Hess Midstream Operations, LP 5.50% 10/15/2030 <sup>(a)</sup>  | 490 | 492 |
| Hilcorp Energy I, LP 5.75% 2/1/2029 <sup>(a)</sup>  | 805 | 795 |
| Hilcorp Energy I, LP 6.00% 4/15/2030 <sup>(a)</sup>  | 837 | 814 |
| Hilcorp Energy I, LP 6.00% 2/1/2031 <sup>(a)</sup>  | 783 | 758 |
| Hilcorp Energy I, LP 6.25% 4/15/2032 <sup>(a)</sup>  | 970 | 927 |
| Hilcorp Energy I, LP 8.375% 11/1/2033 <sup>(a)</sup>  | 1258 | 1306 |
| Kimmeridge Texas Gas, LLC 8.50% 2/15/2030 <sup>(a)</sup>  | 250 | 259 |
| Kodiak Gas Services, LLC 7.25% 2/15/2029 <sup>(a)</sup>  | 350 | 362 |
| Matador Resources Co. 6.875% 4/15/2028 <sup>(a)</sup>  | 425 | 434 |
| Matador Resources Co. 6.50% 4/15/2032 <sup>(a)</sup>  | 720 | 721 |
| Matador Resources Co. 6.25% 4/15/2033 <sup>(a)</sup>  | 800 | 796 |
| MEG Energy Corp. 5.875% 2/1/2029 <sup>(a)</sup>  | 1430 | 1429 |
| Mesquite Energy, Inc. 7.25% 2/15/2023 <sup>(a)(e)</sup>  | 739 | 15 |
| Murphy Oil Corp. 6.375% 7/15/2028  | 243 | 245 |
| Murphy Oil Corp. 6.00% 10/1/2032  | 410 | 391 |
| Murphy Oil USA, Inc. 3.75% 2/15/2031 <sup>(a)</sup>  | 820 | 757 |
| Nabors Industries, Inc. 7.375% 5/15/2027 <sup>(a)</sup>  | 755 | 746 |
| Nabors Industries, Inc. 7.50% 1/15/2028 <sup>(a)</sup>  | 75 | 67 |
| Nabors Industries, Inc. 9.125% 1/31/2030 <sup>(a)</sup>  | 990 | 949 |
| Nabors Industries, Inc. 8.875% 8/15/2031 <sup>(a)</sup>  | 525 | 390 |
| New Fortress Energy, Inc. 6.50% 9/30/2026 <sup>(a)</sup>  | 935 | 520 |
| New Fortress Energy, Inc., Term Loan B, (3-month USD CME Term SOFR + 5.50%) 9.807% 10/30/2028 <sup>(b)(c)</sup>  | 267 | 147 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **220** |

---

------

American High-Income Trust (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Energy (continued)** |  |  |
| NFE Financing, LLC 12.00% 11/15/2029 <sup>(a)</sup>  | USD17,123 | $7788 |
| NGL Energy Operating, LLC 8.125% 2/15/2029 <sup>(a)</sup>  | 105 | 106 |
| NGL Energy Operating, LLC 8.375% 2/15/2032 <sup>(a)</sup>  | 1110 | 1114 |
| Noble Finance II, LLC 8.00% 4/15/2030 <sup>(a)</sup>  | 1695 | 1727 |
| Northern Oil and Gas, Inc. 8.125% 3/1/2028 <sup>(a)</sup>  | 1900 | 1918 |
| Northern Oil and Gas, Inc. 8.75% 6/15/2031 <sup>(a)</sup>  | 360 | 371 |
| NuStar Logistics, LP 6.00% 6/1/2026  | 286 | 287 |
| Occidental Petroleum Corp. 6.60% 3/15/2046  | 692 | 683 |
| Occidental Petroleum Corp. 6.05% 10/1/2054  | 1200 | 1101 |
| Parkland Corp. 5.875% 7/15/2027 <sup>(a)</sup>  | 605 | 606 |
| Parkland Corp. 4.625% 5/1/2030 <sup>(a)</sup>  | 440 | 422 |
| Parkland Corp. 6.625% 8/15/2032 <sup>(a)</sup>  | 70 | 72 |
| Permian Resources Operating, LLC 8.00% 4/15/2027 <sup>(a)</sup>  | 58 | 59 |
| Permian Resources Operating, LLC 7.00% 1/15/2032 <sup>(a)</sup>  | 955 | 991 |
| Permian Resources Operating, LLC 6.25% 2/1/2033 <sup>(a)</sup>  | 1490 | 1505 |
| Petroleos Mexicanos 6.875% 10/16/2025  | 350 | 350 |
| Petroleos Mexicanos 4.50% 1/23/2026  | 695 | 686 |
| Petroleos Mexicanos 6.875% 8/4/2026  | 155 | 155 |
| Petroleos Mexicanos 6.49% 1/23/2027  | 160 | 159 |
| Petroleos Mexicanos 5.35% 2/12/2028  | 125 | 120 |
| Petroleos Mexicanos 6.50% 1/23/2029  | 140 | 137 |
| Petroleos Mexicanos 8.75% 6/2/2029  | 777 | 805 |
| Petroleos Mexicanos 6.84% 1/23/2030  | 510 | 493 |
| Petroleos Mexicanos 5.95% 1/28/2031  | 715 | 647 |
| Petroleos Mexicanos 6.50% 6/2/2041  | 10 | 7 |
| Petroleos Mexicanos 6.75% 9/21/2047  | 31 | 22 |
| Petroleos Mexicanos 6.35% 2/12/2048  | 10 | 7 |
| Petroleos Mexicanos 7.69% 1/23/2050  | 185 | 146 |
| Petroleos Mexicanos 6.95% 1/28/2060  | 460 | 331 |
| Range Resources Corp. 8.25% 1/15/2029  | 500 | 515 |
| Range Resources Corp. 4.75% 2/15/2030 <sup>(a)</sup>  | 285 | 277 |
| Saturn Oil & Gas, Inc. 9.625% 6/15/2029 <sup>(a)</sup>  | 268 | 267 |
| Seadrill Finance, Ltd. 8.375% 8/1/2030 <sup>(a)</sup>  | 200 | 204 |
| Suburban Propane Partners, LP 5.00% 6/1/2031 <sup>(a)</sup>  | 335 | 317 |
| Summit Midstream Holdings, LLC 8.625% 10/31/2029 <sup>(a)</sup>  | 1745 | 1787 |
| Sunoco, LP 6.00% 4/15/2027  | 547 | 547 |
| Sunoco, LP 5.875% 3/15/2028  | 290 | 291 |
| Sunoco, LP 7.00% 5/1/2029 <sup>(a)</sup>  | 300 | 313 |
| Sunoco, LP 4.50% 5/15/2029  | 1970 | 1914 |
| Sunoco, LP 4.50% 4/30/2030  | 1880 | 1809 |
| Sunoco, LP 7.25% 5/1/2032 <sup>(a)</sup>  | 1335 | 1403 |
| Sunoco, LP 6.25% 7/1/2033 <sup>(a)</sup>  | 810 | 824 |
| Talos Production, Inc. 9.00% 2/1/2029 <sup>(a)</sup>  | 985 | 1009 |
| Talos Production, Inc. 9.375% 2/1/2031 <sup>(a)</sup>  | 1265 | 1293 |
| Targa Resources Partners, LP 6.50% 7/15/2027  | 133 | 133 |
| Targa Resources Partners, LP 5.50% 3/1/2030  | 327 | 332 |
| Targa Resources Partners, LP 4.875% 2/1/2031  | 695 | 690 |
| TGS ASA 8.50% 1/15/2030 <sup>(a)</sup>  | 710 | 736 |
| Tidewater, Inc. 9.125% 7/15/2030 <sup>(a)</sup>  | 290 | 299 |
| Transocean Aquila, Ltd. 8.00% 9/30/2028 <sup>(a)</sup>  | 436 | 441 |
| Transocean Poseidon, Ltd. 6.875% 2/1/2027 <sup>(a)</sup>  | 369 | 369 |
| Transocean Titan Financing, Ltd. 8.375% 2/1/2028 <sup>(a)</sup>  | 1074 | 1092 |
| Transocean, Inc. 8.00% 2/1/2027 <sup>(a)</sup>  | 140 | 138 |
| Transocean, Inc. 8.75% 2/15/2030 <sup>(a)</sup>  | 399 | 411 |
| Transocean, Inc. 8.50% 5/15/2031 <sup>(a)</sup>  | 665 | 594 |
| Transocean, Inc. 6.80% 3/15/2038  | 425 | 299 |
| USA Compression Partners, LP 6.875% 9/1/2027  | 332 | 333 |
| USA Compression Partners, LP 7.125% 3/15/2029 <sup>(a)</sup>  | 430 | 441 |
| Venture Global Calcasieu Pass, LLC 3.875% 8/15/2029 <sup>(a)</sup>  | 1190 | 1123 |
| Venture Global Calcasieu Pass, LLC 6.25% 1/15/2030 <sup>(a)</sup>  | 195 | 201 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **221** | American Funds Insurance Series |

---

------

American High-Income Trust (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Energy (continued)** |  |  |
| Venture Global Calcasieu Pass, LLC 4.125% 8/15/2031 <sup>(a)</sup>  | USD1,600 | $1482 |
| Venture Global Calcasieu Pass, LLC 3.875% 11/1/2033 <sup>(a)</sup>  | 1260 | 1103 |
| Venture Global LNG, Inc. 8.125% 6/1/2028 <sup>(a)</sup>  | 915 | 946 |
| Venture Global LNG, Inc. 9.50% 2/1/2029 <sup>(a)</sup>  | 405 | 441 |
| Venture Global LNG, Inc. 7.00% 1/15/2030 <sup>(a)</sup>  | 750 | 759 |
| Venture Global LNG, Inc. 8.375% 6/1/2031 <sup>(a)</sup>  | 1300 | 1351 |
| Venture Global LNG, Inc. 9.875% 2/1/2032 <sup>(a)</sup>  | 492 | 532 |
| Venture Global LNG, Inc. 9.00% junior subordinated perpetual preferred bonds (5-year UST Yield Curve <br>Rate T Note Constant Maturity + 5.44% on 9/30/2029) <sup>(a)(g)</sup>  | 413 | 402 |
| Venture Global Plaquemines LNG, LLC 7.50% 5/1/2033 <sup>(a)</sup>  | 1140 | 1222 |
| Venture Global Plaquemines LNG, LLC 6.50% 1/15/2034 <sup>(a)</sup>  | 1425 | 1425 |
| Venture Global Plaquemines LNG, LLC 7.75% 5/1/2035 <sup>(a)</sup>  | 970 | 1051 |
| Venture Global Plaquemines LNG, LLC 6.75% 1/15/2036 <sup>(a)</sup>  | 1470 | 1470 |
| Vital Energy, Inc. 7.875% 4/15/2032 <sup>(a)</sup>  | 700 | 599 |
| Weatherford International, Ltd. 8.625% 4/30/2030 <sup>(a)</sup>  | 3309 | 3413 |
| Western Midstream Operating, LP 4.50% 3/1/2028  | 239 | 238 |
| Western Midstream Operating, LP 5.25% 2/1/2050  | 300 | 253 |
| Wildfire Intermediate Holdings, LLC 7.50% 10/15/2029 <sup>(a)</sup>  | 395 | 393 |
|  |  | 126268 |
| **Financials 9.18%** |  |  |
| AG Issuer, LLC 6.25% 3/1/2028 <sup>(a)</sup>  | 1286 | 1287 |
| AG TTMT Escrow Issuer, LLC 8.625% 9/30/2027 <sup>(a)</sup>  | 392 | 406 |
| Alera Group Intermediate Holdings, Inc., Term Loan B, (3-month USD CME Term SOFR + 3.25%) 7.574% <br>5/15/2032 <sup>(b)(c)</sup>  | 285 | 286 |
| Alera Group Intermediate Holdings, Inc., Term Loan B, (3-month USD CME Term SOFR + 5.50%) 9.824% <br>5/15/2033 <sup>(b)(c)</sup>  | 1265 | 1292 |
| Alliant Holdings Intermediate, LLC 4.25% 10/15/2027 <sup>(a)</sup>  | 555 | 545 |
| Alliant Holdings Intermediate, LLC 5.875% 11/1/2029 <sup>(a)</sup>  | 1460 | 1440 |
| Alliant Holdings Intermediate, LLC 7.00% 1/15/2031 <sup>(a)</sup>  | 660 | 683 |
| Alliant Holdings Intermediate, LLC 6.50% 10/1/2031 <sup>(a)</sup>  | 845 | 862 |
| Alliant Holdings Intermediate, LLC 7.375% 10/1/2032 <sup>(a)</sup>  | 3420 | 3530 |
| AmWINS Group, Inc. 4.875% 6/30/2029 <sup>(a)</sup>  | 1650 | 1605 |
| Ardonagh Finco, Ltd. 7.75% 2/15/2031 <sup>(a)</sup>  | 1095 | 1146 |
| Ardonagh Group Finance, Ltd. 8.875% 2/15/2032 <sup>(a)</sup>  | 1815 | 1911 |
| Aretec Group, Inc. 7.50% 4/1/2029 <sup>(a)</sup>  | 3193 | 3235 |
| Aretec Group, Inc. 10.00% 8/15/2030 <sup>(a)</sup>  | 755 | 831 |
| AssuredPartners, Inc. 5.625% 1/15/2029 <sup>(a)</sup>  | 365 | 364 |
| AssuredPartners, Inc., Term Loan, (3-month USD CME Term SOFR + 3.50%) 7.827% 2/14/2031 <sup>(b)(c)</sup>  | 496 | 498 |
| Blackstone Private Credit Fund 6.00% 11/22/2034  | 795 | 778 |
| Block, Inc. 2.75% 6/1/2026  | 1640 | 1607 |
| Block, Inc. 3.50% 6/1/2031  | 1820 | 1671 |
| Block, Inc. 6.50% 5/15/2032  | 920 | 950 |
| Blue Owl Capital Corp. 3.40% 7/15/2026  | 290 | 285 |
| Blue Owl Capital Corp. 3.125% 4/13/2027  | 600 | 580 |
| Blue Owl Credit Income Corp. 4.70% 2/8/2027  | 965 | 959 |
| Blue Owl Credit Income Corp. 6.65% 3/15/2031  | 380 | 391 |
| Boost Newco Borrower, LLC 7.50% 1/15/2031 <sup>(a)</sup>  | 1660 | 1763 |
| Brown & Brown, Inc. 5.25% 6/23/2032  | 92 | 94 |
| Brown & Brown, Inc. 5.55% 6/23/2035  | 266 | 271 |
| Brown & Brown, Inc. 6.25% 6/23/2055  | 331 | 342 |
| Coinbase Global, Inc. 3.375% 10/1/2028 <sup>(a)</sup>  | 3416 | 3205 |
| Coinbase Global, Inc. 3.625% 10/1/2031 <sup>(a)</sup>  | 2554 | 2276 |
| Compass Group Diversified Holdings, LLC 5.25% 4/15/2029 <sup>(a)</sup>  | 3661 | 3289 |
| Compass Group Diversified Holdings, LLC 5.00% 1/15/2032 <sup>(a)</sup>  | 710 | 601 |
| Hightower Holding, LLC 6.75% 4/15/2029 <sup>(a)</sup>  | 1280 | 1277 |
| Hightower Holding, LLC 9.125% 1/31/2030 <sup>(a)</sup>  | 195 | 208 |
| Howden UK Refinance PLC 7.25% 2/15/2031 <sup>(a)</sup>  | 1100 | 1140 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **222** |

---

------

American High-Income Trust (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Financials (continued)** |  |  |
| HUB International, Ltd. 5.625% 12/1/2029 <sup>(a)</sup>  | USD165 | $165 |
| HUB International, Ltd. 7.25% 6/15/2030 <sup>(a)</sup>  | 767 | 802 |
| HUB International, Ltd. 7.375% 1/31/2032 <sup>(a)</sup>  | 870 | 911 |
| HUB International, Ltd., Term Loan, (3-month USD CME Term SOFR + 2.50%) 6.769% 6/20/2030 <sup>(b)(c)</sup>  | 146 | 146 |
| Intercontinental Exchange, Inc. 3.625% 9/1/2028  | 410 | 402 |
| Iron Mountain Information Management Services, Inc. 5.00% 7/15/2032 <sup>(a)</sup>  | 1335 | 1282 |
| Jane Street Group, LLC 6.75% 5/1/2033 <sup>(a)</sup>  | 1075 | 1106 |
| Jefferson Capital Holdings, LLC 8.25% 5/15/2030 <sup>(a)</sup>  | 830 | 861 |
| JPMorgan Chase & Co. 2.956% 5/13/2031 (USD-SOFR + 2.515% on 5/13/2030) <sup>(g)</sup>  | 160 | 148 |
| LPL Holdings, Inc. 4.375% 5/15/2031 <sup>(a)</sup>  | 715 | 684 |
| MPT Finance Corp. 7.00% 2/15/2032  | EUR705 | 852 |
| MSCI, Inc. 3.875% 2/15/2031 <sup>(a)</sup>  | USD630 | 595 |
| MSCI, Inc. 3.625% 11/1/2031 <sup>(a)</sup>  | 341 | 314 |
| MSCI, Inc. 3.25% 8/15/2033 <sup>(a)</sup>  | 584 | 512 |
| Nationstar Mortgage Holdings, Inc. 7.125% 2/1/2032 <sup>(a)</sup>  | 380 | 395 |
| Navient Corp. 6.75% 6/15/2026  | 510 | 517 |
| Navient Corp. 5.00% 3/15/2027  | 2253 | 2245 |
| Navient Corp. 4.875% 3/15/2028  | 550 | 543 |
| Navient Corp. 5.50% 3/15/2029  | 3815 | 3739 |
| Navient Corp. 9.375% 7/25/2030  | 1547 | 1708 |
| Navient Corp. 11.50% 3/15/2031  | 880 | 998 |
| Navient Corp. 7.875% 6/15/2032  | 1455 | 1515 |
| Navient Corp. 5.625% 8/1/2033  | 2463 | 2267 |
| OneMain Finance Corp. 3.875% 9/15/2028  | 165 | 158 |
| OneMain Finance Corp. 9.00% 1/15/2029  | 105 | 110 |
| OneMain Finance Corp. 6.625% 5/15/2029  | 1055 | 1085 |
| OneMain Finance Corp. 5.375% 11/15/2029  | 950 | 935 |
| OneMain Finance Corp. 7.875% 3/15/2030  | 915 | 973 |
| OneMain Finance Corp. 4.00% 9/15/2030  | 245 | 226 |
| OneMain Finance Corp. 7.50% 5/15/2031  | 125 | 131 |
| OneMain Finance Corp. 7.125% 11/15/2031  | 1335 | 1390 |
| OneMain Finance Corp. 7.125% 9/15/2032  | 1975 | 2047 |
| Osaic Holdings, Inc. 10.75% 8/1/2027 <sup>(a)</sup>  | 4101 | 4113 |
| Osaic Holdings, Inc., Term Loan B4, (3-month USD CME Term SOFR + 3.50%) 7.827% 8/17/2028 <sup>(b)(c)</sup>  | 475 | 476 |
| Owl Rock Capital Corp. 3.75% 7/22/2025  | 145 | 145 |
| Oxford Finance, LLC 6.375% 2/1/2027 <sup>(a)</sup>  | 1488 | 1497 |
| Panther Escrow Issuer, LLC 7.125% 6/1/2031 <sup>(a)</sup>  | 675 | 702 |
| PennyMac Financial Services, Inc. 6.875% 5/15/2032 <sup>(a)</sup>  | 440 | 450 |
| PennyMac Financial Services, Inc. 6.875% 2/15/2033 <sup>(a)</sup>  | 520 | 534 |
| Planet Financial Group, LLC 10.50% 12/15/2029 <sup>(a)</sup>  | 230 | 230 |
| Rocket Mortgage, LLC 2.875% 10/15/2026 <sup>(a)</sup>  | 520 | 508 |
| Ryan Specialty, LLC 4.375% 2/1/2030 <sup>(a)</sup>  | 720 | 697 |
| Ryan Specialty, LLC 5.875% 8/1/2032 <sup>(a)</sup>  | 805 | 812 |
| SLM Corp. 6.50% 1/31/2030  | 680 | 714 |
| Starwood Property Trust, Inc. 4.375% 1/15/2027 <sup>(a)</sup>  | 655 | 649 |
| Starwood Property Trust, Inc. 7.25% 4/1/2029 <sup>(a)</sup>  | 600 | 632 |
| Starwood Property Trust, Inc. 6.50% 7/1/2030 <sup>(a)</sup>  | 535 | 553 |
| Starwood Property Trust, Inc. 6.50% 10/15/2030 <sup>(a)</sup>  | 385 | 398 |
| Truist Insurance Holdings, LLC, Term Loan, (3-month USD CME Term SOFR + 4.75%) 9.046% 5/6/2032 <sup>(b)(c)</sup>  | 2891 | 2932 |
| Voyager Parent, LLC 9.25% 7/1/2032 <sup>(a)</sup>  | 3240 | 3373 |
| WEX, Inc. 6.50% 3/15/2033 <sup>(a)</sup>  | 550 | 555 |
|  |  | 91340 |
| **Consumer discretionary 9.11%** |  |  |
| Advance Auto Parts, Inc. 5.95% 3/9/2028  | 853 | 873 |
| Advance Auto Parts, Inc. 3.90% 4/15/2030  | 1470 | 1379 |
| Advance Auto Parts, Inc. 3.50% 3/15/2032  | 1629 | 1428 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **223** | American Funds Insurance Series |

---

------

American High-Income Trust (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Consumer discretionary (continued)** |  |  |
| Aimbridge Acquisition Co., Inc., Term Loan, (1-month USD CME Term SOFR + 5.614%) 9.935% <br>3/11/2030 <sup>(b)(c)(f)</sup>  | USD556 | $556 |
| Aimbridge Acquisition Co., Inc., Term Loan, (1-month USD CME Term SOFR + 7.614%) 6.00% PIK and <br>5.947% Cash 3/11/2030 <sup>(b)(c)(d)(f)</sup>  | 509 | 509 |
| Allied Universal Holdco, LLC 4.625% 6/1/2028 <sup>(a)</sup>  | 555 | 539 |
| Allied Universal Holdco, LLC 6.00% 6/1/2029 <sup>(a)</sup>  | 2545 | 2478 |
| Allied Universal Holdco, LLC 6.875% 6/15/2030 <sup>(a)</sup>  | 1375 | 1395 |
| Allied Universal Holdco, LLC 7.875% 2/15/2031 <sup>(a)</sup>  | 305 | 319 |
| Allwyn Entertainment Financing (UK) PLC 7.875% 4/30/2029 <sup>(a)</sup>  | 1849 | 1931 |
| Asbury Automotive Group, Inc. 4.625% 11/15/2029 <sup>(a)</sup>  | 1275 | 1232 |
| Asbury Automotive Group, Inc. 5.00% 2/15/2032 <sup>(a)</sup>  | 600 | 571 |
| Bath & Body Works, Inc. 6.875% 11/1/2035  | 1581 | 1642 |
| Bath & Body Works, Inc. 6.75% 7/1/2036  | 910 | 926 |
| Belron Finance 2019, LLC, Term Loan B, (3-month USD CME Term SOFR + 2.75%) 7.049% 10/16/2031 <sup>(b)(c)</sup>  | 591 | 594 |
| Boyd Gaming Corp. 4.75% 12/1/2027  | 441 | 439 |
| Boyd Gaming Corp. 4.75% 6/15/2031 <sup>(a)</sup>  | 575 | 552 |
| Boyne USA, Inc. 4.75% 5/15/2029 <sup>(a)</sup>  | 650 | 631 |
| Caesars Entertainment, Inc. 4.625% 10/15/2029 <sup>(a)</sup>  | 1794 | 1714 |
| Caesars Entertainment, Inc. 7.00% 2/15/2030 <sup>(a)</sup>  | 2345 | 2430 |
| Caesars Entertainment, Inc. 6.50% 2/15/2032 <sup>(a)</sup>  | 1570 | 1612 |
| Carnival Corp. 5.75% 3/1/2027 <sup>(a)</sup>  | 505 | 510 |
| Carnival Corp. 4.00% 8/1/2028 <sup>(a)</sup>  | 1450 | 1420 |
| Carnival Corp. 7.00% 8/15/2029 <sup>(a)</sup>  | 135 | 142 |
| Carnival Corp. 6.125% 2/15/2033 <sup>(a)</sup>  | 3765 | 3855 |
| Cougar JV Subsidiary, LLC 8.00% 5/15/2032 <sup>(a)</sup>  | 150 | 160 |
| Fertitta Entertainment, LLC 4.625% 1/15/2029 <sup>(a)</sup>  | 1800 | 1725 |
| Fertitta Entertainment, LLC 6.75% 1/15/2030 <sup>(a)</sup>  | 2155 | 1990 |
| First Student Bidco, Inc. 4.00% 7/31/2029 <sup>(a)</sup>  | 1295 | 1218 |
| First Student Bidco, Inc., Term Loan B, (3-month USD CME Term SOFR + 2.50%) 6.796% 7/21/2028 <sup>(b)(c)</sup>  | 334 | 334 |
| First Student Bidco, Inc., Term Loan C, (3-month USD CME Term SOFR + 2.50%) 6.796% 7/21/2028 <sup>(b)(c)</sup>  | 102 | 102 |
| Ford Motor Co. 3.25% 2/12/2032  | 500 | 422 |
| Ford Motor Credit Co., LLC 4.271% 1/9/2027  | 495 | 488 |
| Ford Motor Credit Co., LLC 3.815% 11/2/2027  | 115 | 111 |
| Ford Motor Credit Co., LLC 5.918% 3/20/2028  | 200 | 202 |
| Ford Motor Credit Co., LLC 5.875% 11/7/2029  | 225 | 226 |
| Ford Motor Credit Co., LLC 7.20% 6/10/2030  | 370 | 390 |
| Ford Motor Credit Co., LLC 4.00% 11/13/2030  | 550 | 502 |
| Ford Motor Credit Co., LLC 6.532% 3/19/2032  | 470 | 478 |
| Gap, Inc. 3.625% 10/1/2029 <sup>(a)</sup>  | 170 | 158 |
| Gap, Inc. 3.875% 10/1/2031 <sup>(a)</sup>  | 108 | 97 |
| General Motors Financial Co., Inc. 5.90% 1/7/2035  | 530 | 533 |
| Genting New York, LLC 7.25% 10/1/2029 <sup>(a)</sup>  | 1240 | 1287 |
| Global Auto Holdings PLC 11.50% 8/15/2029 <sup>(a)</sup>  | 585 | 573 |
| Great Canadian Gaming Corp. 8.75% 11/15/2029 <sup>(a)</sup>  | 1790 | 1753 |
| Hanesbrands, Inc. 9.00% 2/15/2031 <sup>(a)</sup>  | 2266 | 2401 |
| Hanesbrands, Inc., Term Loan B, (3-month USD CME Term SOFR + 2.75%) 7.077% 3/7/2032 <sup>(b)(c)</sup>  | 1123 | 1127 |
| Hilton Domestic Operating Co., Inc. 4.875% 1/15/2030  | 408 | 406 |
| Hilton Domestic Operating Co., Inc. 4.00% 5/1/2031 <sup>(a)</sup>  | 1045 | 983 |
| Hilton Grand Vacations Borrower, LLC 5.00% 6/1/2029 <sup>(a)</sup>  | 591 | 569 |
| Hyatt Hotels Corp. 5.75% 3/30/2032  | 269 | 276 |
| Hyundai Capital America 1.65% 9/17/2026 <sup>(a)</sup>  | 70 | 68 |
| International Game Technology PLC 4.125% 4/15/2026 <sup>(a)</sup>  | 465 | 465 |
| International Game Technology PLC 5.25% 1/15/2029 <sup>(a)</sup>  | 1065 | 1056 |
| KB Home 6.875% 6/15/2027  | 330 | 340 |
| KB Home 7.25% 7/15/2030  | 330 | 342 |
| Kohl's Corp. 5.125% 5/1/2031 <sup>(g)</sup>  | 90 | 65 |
| Kontoor Brands, Inc. 4.125% 11/15/2029 <sup>(a)</sup>  | 370 | 348 |
| Las Vegas Sands Corp. 6.20% 8/15/2034  | 25 | 26 |
| LCM Investments Holdings II, LLC 4.875% 5/1/2029 <sup>(a)</sup>  | 3405 | 3314 |
| LCM Investments Holdings II, LLC 8.25% 8/1/2031 <sup>(a)</sup>  | 1365 | 1452 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **224** |

---

------

American High-Income Trust (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Consumer discretionary (continued)** |  |  |
| Levi Strauss & Co. 3.50% 3/1/2031 <sup>(a)</sup>  | USD1,175 | $1076 |
| Light and Wonder International, Inc. 7.25% 11/15/2029 <sup>(a)</sup>  | 470 | 485 |
| Light and Wonder International, Inc. 7.50% 9/1/2031 <sup>(a)</sup>  | 305 | 319 |
| Lindblad Expeditions, LLC 6.75% 2/15/2027 <sup>(a)</sup>  | 205 | 206 |
| Lithia Motors, Inc. 3.875% 6/1/2029 <sup>(a)</sup>  | 1090 | 1040 |
| Lithia Motors, Inc. 4.375% 1/15/2031 <sup>(a)</sup>  | 700 | 666 |
| M.D.C. Holdings, Inc. 6.00% 1/15/2043  | 803 | 727 |
| Macy's Retail Holdings, LLC 5.875% 4/1/2029 <sup>(a)</sup>  | 75 | 74 |
| Marriott Ownership Resorts, Inc. 4.50% 6/15/2029 <sup>(a)</sup>  | 555 | 533 |
| Melco Resorts Finance, Ltd. 5.75% 7/21/2028 <sup>(a)</sup>  | 325 | 318 |
| Mercury Aggregator, LP, Term Loan 2, 3.50% 4/3/2026 <sup>(b)(f)</sup>  | 95 | 36 |
| Mercury Aggregator, LP, Term Loan, 13.50% 4/3/2026 (16.00% on 8/3/2025) <sup>(b)(f)(g)</sup>  | 166 | 63 |
| MGM Resorts International 5.50% 4/15/2027  | 200 | 201 |
| NCL Corp., Ltd. 5.875% 2/15/2027 <sup>(a)</sup>  | 375 | 377 |
| Newell Brands, Inc. 8.50% 6/1/2028 <sup>(a)</sup>  | 580 | 611 |
| Newell Brands, Inc. 6.625% 9/15/2029  | 435 | 431 |
| Newell Brands, Inc. 6.375% 5/15/2030  | 785 | 766 |
| Newell Brands, Inc. 6.625% 5/15/2032  | 435 | 416 |
| Newell Brands, Inc. 6.875% 4/1/2036  | 355 | 341 |
| Newell Brands, Inc. 7.00% 4/1/2046  | 165 | 141 |
| Nissan Motor Acceptance Co., LLC 1.85% 9/16/2026 <sup>(a)</sup>  | 350 | 334 |
| Party City Holdings, Inc. 0% 10/12/2028 <sup>(f)(h)</sup>  | 500 | — <br><sup>(i)</sup><br>|
| Party City Holdco, Inc. 12.00% PIK 1/11/2029 <sup>(a)(d)(e)(f)</sup>  | 2510 | 251 |
| PENN Entertainment, Inc. 4.125% 7/1/2029 <sup>(a)</sup>  | 15 | 14 |
| Petco Health and Wellness Co., Inc., Term Loan B, (3-month USD CME Term SOFR + 3.25%) 7.807% <br> 3/3/2028 <sup>(b)(c)</sup>  | 965 | 893 |
| RHP Hotel Properties, LP 7.25% 7/15/2028 <sup>(a)</sup>  | 492 | 510 |
| RHP Hotel Properties, LP 4.50% 2/15/2029 <sup>(a)</sup>  | 660 | 646 |
| RHP Hotel Properties, LP 6.50% 6/15/2033 <sup>(a)</sup>  | 745 | 767 |
| Royal Caribbean Cruises, Ltd. 5.50% 8/31/2026 <sup>(a)</sup>  | 70 | 70 |
| Royal Caribbean Cruises, Ltd. 5.50% 4/1/2028 <sup>(a)</sup>  | 1105 | 1120 |
| Royal Caribbean Cruises, Ltd. 6.25% 3/15/2032 <sup>(a)</sup>  | 705 | 725 |
| Royal Caribbean Cruises, Ltd. 6.00% 2/1/2033 <sup>(a)</sup>  | 625 | 637 |
| Sally Holdings, LLC 6.75% 3/1/2032  | 2887 | 2966 |
| Scientific Games Holdings, LP 6.625% 3/1/2030 <sup>(a)</sup>  | 190 | 183 |
| Scientific Games Holdings, LP, Term Loan, (3-month USD CME Term SOFR + 3.00%) 7.285% 4/4/2029 <sup>(b)(c)</sup>  | 1298 | 1298 |
| Service Corp. International 4.625% 12/15/2027  | 405 | 403 |
| Service Corp. International 5.125% 6/1/2029  | 75 | 75 |
| Service Corp. International 3.375% 8/15/2030  | 190 | 175 |
| Service Corp. International 4.00% 5/15/2031  | 515 | 482 |
| Service Corp. International 5.75% 10/15/2032  | 350 | 354 |
| Somnigroup International, Inc. 4.00% 4/15/2029 <sup>(a)</sup>  | 95 | 91 |
| Sonic Automotive, Inc. 4.625% 11/15/2029 <sup>(a)</sup>  | 2181 | 2118 |
| Sonic Automotive, Inc. 4.875% 11/15/2031 <sup>(a)</sup>  | 2669 | 2539 |
| Station Casinos, LLC 6.625% 3/15/2032 <sup>(a)</sup>  | 320 | 327 |
| Travel + Leisure Co. 4.50% 12/1/2029 <sup>(a)</sup>  | 995 | 962 |
| Travel + Leisure Co. 4.625% 3/1/2030 <sup>(a)</sup>  | 200 | 192 |
| Universal Entertainment Corp. 9.875% 8/1/2029 <sup>(a)</sup>  | 2495 | 2440 |
| Vail Resorts, Inc. 5.625% 7/15/2030 <sup>(a)</sup>  | 315 | 316 |
| Vail Resorts, Inc. 6.50% 5/15/2032 <sup>(a)</sup>  | 550 | 569 |
| Valvoline, Inc. 3.625% 6/15/2031 <sup>(a)</sup>  | 630 | 571 |
| Voyager Parent, LLC, Term Loan B, (1-month USD CME Term SOFR + 4.75%) 9.083% 5/10/2032 <sup>(b)(c)</sup>  | 400 | 396 |
| Wand NewCo 3, Inc. 7.625% 1/30/2032 <sup>(a)</sup>  | 10 | 11 |
| WASH Multifamily Acquisition, Inc. 5.75% 4/15/2026 <sup>(a)</sup>  | 615 | 613 |
| Wyndham Hotels & Resorts, Inc. 4.375% 8/15/2028 <sup>(a)</sup>  | 555 | 543 |
| Wynn Resorts Finance, LLC 5.125% 10/1/2029 <sup>(a)</sup>  | 482 | 479 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **225** | American Funds Insurance Series |

---

------

American High-Income Trust (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Consumer discretionary (continued)** |  |  |
| Wynn Resorts Finance, LLC 7.125% 2/15/2031 <sup>(a)</sup>  | USD487 | $520 |
| Wynn Resorts Finance, LLC 6.25% 3/15/2033 <sup>(a)</sup>  | 1300 | 1309 |
| ZF North America Capital, Inc. 7.125% 4/14/2030 <sup>(a)</sup>  | 250 | 245 |
|  |  | 90635 |
| **Health care 8.35%** |  |  |
| 1261229 B.C., Ltd. 10.00% 4/15/2032 <sup>(a)</sup>  | 2015 | 2034 |
| AdaptHealth, LLC 6.125% 8/1/2028 <sup>(a)</sup>  | 435 | 436 |
| AdaptHealth, LLC 4.625% 8/1/2029 <sup>(a)</sup>  | 1105 | 1042 |
| AdaptHealth, LLC 5.125% 3/1/2030 <sup>(a)</sup>  | 1505 | 1431 |
| AthenaHealth Group, Inc. 6.50% 2/15/2030 <sup>(a)</sup>  | 590 | 581 |
| Avantor Funding, Inc. 4.625% 7/15/2028 <sup>(a)</sup>  | 2040 | 2005 |
| Avantor Funding, Inc. 3.875% 11/1/2029 <sup>(a)</sup>  | 620 | 588 |
| Bausch + Lomb Corp. 8.375% 10/1/2028 <sup>(a)</sup>  | 70 | 73 |
| Bausch + Lomb Corp., Term Loan B, (USD-SOFR + 4.25%) 8.564% 12/18/2030 <sup>(b)(c)</sup>  | 447 | 448 |
| Bausch Health Americas, Inc. 9.25% 4/1/2026 <sup>(a)</sup>  | 939 | 937 |
| Bausch Health Americas, Inc. 8.50% 1/31/2027 <sup>(a)</sup>  | 1156 | 1102 |
| Bausch Health Cos., Inc. 5.00% 1/30/2028 <sup>(a)</sup>  | 442 | 364 |
| Bausch Health Cos., Inc. 4.875% 6/1/2028 <sup>(a)</sup>  | 1335 | 1127 |
| Bausch Health Cos., Inc. 11.00% 9/30/2028 <sup>(a)</sup>  | 530 | 525 |
| Bausch Health Cos., Inc. 7.25% 5/30/2029 <sup>(a)</sup>  | 20 | 14 |
| Bausch Health Cos., Inc. 5.25% 1/30/2030 <sup>(a)</sup>  | 1262 | 800 |
| Bausch Health Cos., Inc. 5.25% 2/15/2031 <sup>(a)</sup>  | 1277 | 755 |
| Biocon Biologics Global PLC 6.67% 10/9/2029  | 200 | 190 |
| Centene Corp. 4.625% 12/15/2029  | 945 | 920 |
| Centene Corp. 3.375% 2/15/2030  | 52 | 48 |
| Centene Corp. 3.00% 10/15/2030  | 295 | 264 |
| Centene Corp. 2.50% 3/1/2031  | 1125 | 969 |
| Centene Corp. 2.625% 8/1/2031  | 615 | 527 |
| Charles River Laboratories International, Inc. 4.25% 5/1/2028 <sup>(a)</sup>  | 186 | 181 |
| Charles River Laboratories International, Inc. 3.75% 3/15/2029 <sup>(a)</sup>  | 550 | 517 |
| CHS / Community Health Systems, Inc. 5.625% 3/15/2027 <sup>(a)</sup>  | 1395 | 1375 |
| CHS / Community Health Systems, Inc. 6.00% 1/15/2029 <sup>(a)</sup>  | 805 | 775 |
| CHS / Community Health Systems, Inc. 5.25% 5/15/2030 <sup>(a)</sup>  | 1990 | 1767 |
| CHS / Community Health Systems, Inc. 4.75% 2/15/2031 <sup>(a)</sup>  | 1020 | 873 |
| CHS / Community Health Systems, Inc. 10.875% 1/15/2032 <sup>(a)</sup>  | 180 | 191 |
| CVS Health Corp., junior subordinated, 6.75% 12/10/2054 (5-year UST Yield Curve Rate T Note Constant <br> Maturity + 2.516% on 12/10/2034) <sup>(g)</sup>  | 200 | 201 |
| DaVita, Inc. 4.625% 6/1/2030 <sup>(a)</sup>  | 1085 | 1040 |
| DaVita, Inc. 3.75% 2/15/2031 <sup>(a)</sup>  | 875 | 796 |
| DaVita, Inc. 6.875% 9/1/2032 <sup>(a)</sup>  | 2255 | 2338 |
| DaVita, Inc. 6.75% 7/15/2033 <sup>(a)</sup>  | 2035 | 2103 |
| Endo Finance Holdings, Inc. 8.50% 4/15/2031 <sup>(a)</sup>  | 2565 | 2718 |
| Endo Finance Holdings, Inc., Term Loan B, (3-month USD CME Term SOFR + 4.00%) 8.327% 4/23/2031 <sup>(b)(c)</sup>  | 1757 | 1758 |
| Grifols SA 3.875% 10/15/2028  | EUR340 | 384 |
| Grifols SA 4.75% 10/15/2028 <sup>(a)</sup>  | USD2,000 | 1924 |
| Grifols SA 7.50% 5/1/2030  | EUR1,320 | 1631 |
| HCA, Inc. 3.50% 9/1/2030  | USD180 | 170 |
| HCA, Inc. 4.625% 3/15/2052  | 233 | 187 |
| HCA, Inc. 7.50% 11/15/2095  | 250 | 272 |
| Insulet Corp. 6.50% 4/1/2033 <sup>(a)</sup>  | 372 | 388 |
| IQVIA, Inc. 5.00% 10/15/2026 <sup>(a)</sup>  | 603 | 603 |
| IQVIA, Inc. 6.50% 5/15/2030 <sup>(a)</sup>  | 660 | 681 |
| IQVIA, Inc. 6.25% 6/1/2032 <sup>(a)</sup>  | 1205 | 1238 |
| Jazz Securities DAC 4.375% 1/15/2029 <sup>(a)</sup>  | 506 | 489 |
| Mallinckrodt International Finance SA 14.75% 11/14/2028 <sup>(a)</sup>  | 174 | 180 |
| Medline Borrower, LP 3.875% 4/1/2029 <sup>(a)</sup>  | 1380 | 1325 |
| Medline Borrower, LP 6.25% 4/1/2029 <sup>(a)</sup>  | 914 | 940 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **226** |

---

------

American High-Income Trust (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Health care (continued)** |  |  |
| Medline Borrower, LP 5.25% 10/1/2029 <sup>(a)</sup>  | USD1,985 | $1971 |
| Medline Borrower, LP, Term Loan, (3-month USD CME Term SOFR + 2.25%) 6.577% 10/23/2028 <sup>(b)(c)</sup>  | 552 | 552 |
| Molina Healthcare, Inc. 4.375% 6/15/2028 <sup>(a)</sup>  | 995 | 973 |
| Molina Healthcare, Inc. 3.875% 11/15/2030 <sup>(a)</sup>  | 1514 | 1409 |
| Molina Healthcare, Inc. 3.875% 5/15/2032 <sup>(a)</sup>  | 2750 | 2505 |
| Molina Healthcare, Inc. 6.25% 1/15/2033 <sup>(a)</sup>  | 1495 | 1523 |
| Owens & Minor, Inc. 4.50% 3/31/2029 <sup>(a)</sup>  | 1328 | 1192 |
| Owens & Minor, Inc. 6.625% 4/1/2030 <sup>(a)</sup>  | 5290 | 4974 |
| Perrigo Finance Unlimited Co. 6.125% 9/30/2032  | 400 | 404 |
| Radiology Partners, Inc. 9.781% PIK 2/15/2030 <sup>(a)(d)</sup>  | 2347 | 2309 |
| Radiology Partners, Inc. 8.50% 7/15/2032 <sup>(a)</sup>  | 2830 | 2840 |
| Radiology Partners, Inc., Term Loan B, (3-month USD CME Term SOFR + 3.50%) 1.50% PIK and 6.591% <br> Cash 1/31/2029 <sup>(b)(c)(d)</sup>  | 1770 | 1766 |
| Sterigenics-Nordion Holdings, LLC 7.375% 6/1/2031 <sup>(a)</sup>  | 505 | 526 |
| Surgery Center Holdings, Inc. 7.25% 4/15/2032 <sup>(a)</sup>  | 665 | 679 |
| Team Health Holdings, Inc., Term Loan B, (3-month USD CME Term SOFR + 5.25%) 9.53% 3/2/2027 <sup>(b)(c)</sup>  | 36 | 36 |
| Tenet Healthcare Corp. 6.25% 2/1/2027  | 320 | 320 |
| Tenet Healthcare Corp. 5.125% 11/1/2027  | 375 | 375 |
| Tenet Healthcare Corp. 4.25% 6/1/2029  | 1620 | 1572 |
| Tenet Healthcare Corp. 4.375% 1/15/2030  | 895 | 867 |
| Tenet Healthcare Corp. 6.125% 6/15/2030  | 25 | 26 |
| Tenet Healthcare Corp. 6.75% 5/15/2031  | 860 | 890 |
| Tenet Healthcare Corp. 6.875% 11/15/2031  | 100 | 108 |
| Teva Pharmaceutical Finance Netherlands III BV 4.75% 5/9/2027  | 452 | 452 |
| Teva Pharmaceutical Finance Netherlands III BV 5.125% 5/9/2029  | 6790 | 6834 |
| Teva Pharmaceutical Finance Netherlands III BV 7.875% 9/15/2029  | 400 | 437 |
| Teva Pharmaceutical Finance Netherlands III BV 8.125% 9/15/2031  | 959 | 1087 |
| Teva Pharmaceutical Finance Netherlands III BV 6.00% 12/1/2032  | 940 | 961 |
| Teva Pharmaceutical Finance Netherlands III BV 4.10% 10/1/2046  | 942 | 679 |
| Teva Pharmaceutical Finance Netherlands IV BV 5.75% 12/1/2030  | 610 | 621 |
|  |  | 83113 |
| **Materials 8.13%** |  |  |
| Alliance Resource Operating Partners, LP 8.625% 6/15/2029 <sup>(a)</sup>  | 975 | 1037 |
| ArcelorMittal SA 7.00% 10/15/2039  | 488 | 541 |
| ArcelorMittal SA 6.75% 3/1/2041  | 825 | 870 |
| Ardagh Metal Packaging Finance PLC 4.00% 9/1/2029 <sup>(a)</sup>  | 690 | 630 |
| Avient Corp. 6.25% 11/1/2031 <sup>(a)</sup>  | 225 | 227 |
| Axalta Coating Systems Dutch Holding B BV 7.25% 2/15/2031 <sup>(a)</sup>  | 240 | 253 |
| Axalta Coating Systems, LLC 4.75% 6/15/2027 <sup>(a)</sup>  | 460 | 457 |
| Ball Corp. 6.875% 3/15/2028  | 465 | 476 |
| Ball Corp. 6.00% 6/15/2029  | 350 | 359 |
| Ball Corp. 2.875% 8/15/2030  | 160 | 144 |
| Ball Corp. 3.125% 9/15/2031  | 1530 | 1374 |
| CAN-PACK Spolka Akcyjna 3.875% 11/15/2029 <sup>(a)</sup>  | 1875 | 1758 |
| Capstone Copper Corp. 6.75% 3/31/2033 <sup>(a)</sup>  | 245 | 251 |
| Celanese US Holdings, LLC 6.415% 7/15/2027  | 45 | 47 |
| Celanese US Holdings, LLC 6.50% 4/15/2030  | 520 | 533 |
| Celanese US Holdings, LLC 7.05% 11/15/2030  | 265 | 279 |
| Celanese US Holdings, LLC 6.75% 4/15/2033  | 1290 | 1304 |
| Celanese US Holdings, LLC 7.20% 11/15/2033  | 70 | 74 |
| Cleveland-Cliffs, Inc. 5.875% 6/1/2027  | 1363 | 1363 |
| Cleveland-Cliffs, Inc. 4.625% 3/1/2029 <sup>(a)</sup>  | 2346 | 2157 |
| Cleveland-Cliffs, Inc. 6.875% 11/1/2029 <sup>(a)</sup>  | 2354 | 2320 |
| Cleveland-Cliffs, Inc. 6.75% 4/15/2030 <sup>(a)</sup>  | 920 | 891 |
| Cleveland-Cliffs, Inc. 4.875% 3/1/2031 <sup>(a)</sup>  | 2025 | 1734 |
| Cleveland-Cliffs, Inc. 7.50% 9/15/2031 <sup>(a)</sup>  | 1930 | 1863 |
| Cleveland-Cliffs, Inc. 7.00% 3/15/2032 <sup>(a)</sup>  | 2035 | 1921 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **227** | American Funds Insurance Series |

---

------

American High-Income Trust (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Materials (continued)** |  |  |
| Cleveland-Cliffs, Inc. 7.375% 5/1/2033 <sup>(a)</sup>  | USD210 | $197 |
| Consolidated Energy Finance SA 6.50% 5/15/2026 <sup>(a)</sup>  | 150 | 146 |
| Consolidated Energy Finance SA 5.625% 10/15/2028 <sup>(a)</sup>  | 655 | 565 |
| Consolidated Energy Finance SA 12.00% 2/15/2031 <sup>(a)</sup>  | 3465 | 3403 |
| CVR Partners, LP 6.125% 6/15/2028 <sup>(a)</sup>  | 685 | 687 |
| First Quantum Minerals, Ltd. 6.875% 10/15/2027 <sup>(a)</sup>  | 2207 | 2212 |
| First Quantum Minerals, Ltd. 9.375% 3/1/2029 <sup>(a)</sup>  | 4240 | 4505 |
| First Quantum Minerals, Ltd. 8.00% 3/1/2033 <sup>(a)</sup>  | 675 | 693 |
| Freeport-McMoRan, Inc. 4.25% 3/1/2030  | 437 | 428 |
| Freeport-McMoRan, Inc. 5.45% 3/15/2043  | 411 | 389 |
| FXI Holdings, Inc. 12.25% 11/15/2026 <sup>(a)</sup>  | 9297 | 8192 |
| FXI Holdings, Inc. 12.25% 11/15/2026 <sup>(a)</sup>  | 6051 | 5357 |
| Glatfelter Corp., Term Loan B, (3-month USD CME Term SOFR + 4.25%) 8.583% 11/4/2031 <sup>(b)(c)</sup>  | 612 | 602 |
| INEOS Finance PLC 6.75% 5/15/2028 <sup>(a)</sup>  | 500 | 497 |
| INEOS Finance PLC 7.50% 4/15/2029 <sup>(a)</sup>  | 285 | 286 |
| JH North America Holdings, Inc. 5.875% 1/31/2031 <sup>(a)</sup>  | 510 | 515 |
| JH North America Holdings, Inc. 6.125% 7/31/2032 <sup>(a)</sup>  | 805 | 819 |
| Kaiser Aluminum Corp. 4.625% 3/1/2028 <sup>(a)</sup>  | 638 | 625 |
| LABL, Inc. 10.50% 7/15/2027 <sup>(a)</sup>  | 160 | 153 |
| LSB Industries, Inc. 6.25% 10/15/2028 <sup>(a)</sup>  | 155 | 154 |
| Magnera Corp. 4.75% 11/15/2029 <sup>(a)</sup>  | 815 | 721 |
| Magnera Corp. 7.25% 11/15/2031 <sup>(a)</sup>  | 530 | 500 |
| Mauser Packaging Solutions Holding Co. 7.875% 8/15/2026 <sup>(a)</sup>  | 382 | 383 |
| Mauser Packaging Solutions Holding Co. 9.25% 4/15/2027 <sup>(a)</sup>  | 555 | 551 |
| Methanex Corp. 5.125% 10/15/2027  | 2415 | 2408 |
| Methanex Corp. 5.25% 12/15/2029  | 712 | 704 |
| Methanex Corp. 5.65% 12/1/2044  | 465 | 370 |
| Methanex US Operations, Inc. 6.25% 3/15/2032 <sup>(a)</sup>  | 860 | 858 |
| Minera Mexico SA de CV, 5.625% 2/12/2032 <sup>(a)</sup>  | 200 | 204 |
| Mineral Resources, Ltd. 8.125% 5/1/2027 <sup>(a)</sup>  | 393 | 393 |
| Mineral Resources, Ltd. 8.00% 11/1/2027 <sup>(a)</sup>  | 1919 | 1929 |
| Mineral Resources, Ltd. 9.25% 10/1/2028 <sup>(a)</sup>  | 1820 | 1865 |
| Mineral Resources, Ltd. 8.50% 5/1/2030 <sup>(a)</sup>  | 750 | 747 |
| NOVA Chemicals Corp. 8.50% 11/15/2028 <sup>(a)</sup>  | 245 | 259 |
| NOVA Chemicals Corp. 4.25% 5/15/2029 <sup>(a)</sup>  | 1365 | 1314 |
| NOVA Chemicals Corp. 9.00% 2/15/2030 <sup>(a)</sup>  | 2100 | 2271 |
| NOVA Chemicals Corp. 7.00% 12/1/2031 <sup>(a)</sup>  | 665 | 697 |
| Novelis Corp. 3.25% 11/15/2026 <sup>(a)</sup>  | 485 | 478 |
| Novelis Corp. 3.875% 8/15/2031 <sup>(a)</sup>  | 497 | 447 |
| Olin Corp. 5.625% 8/1/2029  | 200 | 199 |
| Olin Corp. 5.00% 2/1/2030  | 180 | 174 |
| Olin Corp. 6.625% 4/1/2033 <sup>(a)</sup>  | 80 | 79 |
| Quikrete Holdings, Inc. 6.375% 3/1/2032 <sup>(a)</sup>  | 835 | 859 |
| Quikrete Holdings, Inc. 6.75% 3/1/2033 <sup>(a)</sup>  | 995 | 1027 |
| Quikrete Holdings, Inc., Term Loan B3, (3-month USD CME Term SOFR + 2.25%) 6.577% 2/10/2032 <sup>(b)(c)</sup>  | 170 | 170 |
| Samarco Mineracao SA 9.00% PIK 6/30/2031 (5.00% PIK and 4.00% Cash on 12/30/2025) <sup>(a)(d)(g)</sup>  | 1280 | 1259 |
| Samarco Mineracao SA 9.00% 6/30/2031 (5.00% PIK and 4.00% Cash on 12/30/2025) <sup>(d)(g)</sup>  | 460 | 452 |
| SCIH Salt Holdings, Inc. 4.875% 5/1/2028 <sup>(a)</sup>  | 660 | 643 |
| Trident TPI Holdings, Inc. 12.75% 12/31/2028 <sup>(a)</sup>  | 470 | 499 |
| Trivium Packaging Finance BV 8.25% 7/15/2030 <sup>(a)</sup>  | 585 | 619 |
| Trivium Packaging Finance BV 12.25% 1/15/2031 <sup>(a)</sup>  | 1015 | 1089 |
| Tronox, Inc. 4.625% 3/15/2029 <sup>(a)</sup>  | 740 | 639 |
| Venator Material, LLC, Term Loan, (3-month USD CME Term SOFR + 2.00%) 8.00% PIK and 6.308% Cash <br>1/16/2026 <sup>(b)(c)(d)(f)</sup>  | 540 | 297 |
| Venator Material, LLC, Term Loan, (3-month USD CME Term SOFR + 8.00%) 8.00% PIK and 6.329% Cash <br>7/16/2026 <sup>(b)(c)(d)(f)</sup>  | 543 | 299 |
| Venator Material, LLC, Term Loan, (USD-SOFR + 10.00%) 8.00% PIK and 6.302% Cash 10/12/2028 <sup>(b)(c)(d)(f)</sup>  | 894 | 492 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **228** |

---

------

American High-Income Trust (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Materials (continued)** |  |  |
| Verde Purchaser, LLC, Term Loan B, (3-month USD CME Term SOFR + 4.00%) 8.296% 11/30/2030 <sup>(b)(c)</sup>  | USD194 | $195 |
| Veritiv Operating Co. 10.50% 11/30/2030 <sup>(a)</sup>  | 780 | 845 |
| Warrior Met Coal, Inc. 7.875% 12/1/2028 <sup>(a)</sup>  | 598 | 611 |
|  |  | 80834 |
| **Information technology 7.36%** |  |  |
| Acuris Finance US, Inc. 9.00% 8/1/2029 <sup>(a)</sup>  | 1350 | 1385 |
| ams-OSRAM AG 12.25% 3/30/2029 <sup>(a)</sup>  | 1175 | 1255 |
| Booz Allen Hamilton, Inc. 3.875% 9/1/2028 <sup>(a)</sup>  | 60 | 58 |
| Cloud Software Group, Inc. 6.50% 3/31/2029 <sup>(a)</sup>  | 1735 | 1752 |
| Cloud Software Group, Inc. 9.00% 9/30/2029 <sup>(a)</sup>  | 5185 | 5379 |
| Cloud Software Group, Inc. 8.25% 6/30/2032 <sup>(a)</sup>  | 1625 | 1731 |
| Cloud Software Group, Inc., Term Loan B1, (3-month USD CME Term SOFR + 3.50%) 7.796% <br>3/29/2029 <sup>(b)(c)</sup>  | 1407 | 1410 |
| CommScope Technologies, LLC 5.00% 3/15/2027 <sup>(a)</sup>  | 2190 | 2135 |
| CommScope, LLC 8.25% 3/1/2027 <sup>(a)</sup>  | 1404 | 1400 |
| CommScope, LLC 7.125% 7/1/2028 <sup>(a)</sup>  | 1107 | 1089 |
| CommScope, LLC 4.75% 9/1/2029 <sup>(a)</sup>  | 103 | 101 |
| CommScope, LLC 9.50% 12/15/2031 <sup>(a)</sup>  | 525 | 550 |
| Commscope, LLC, Term Loan, (3-month USD CME Term SOFR + 5.25%) 9.577% 12/17/2029 <sup>(b)(c)</sup>  | 645 | 654 |
| CoreWeave, Inc. 9.25% 6/1/2030 <sup>(a)</sup>  | 425 | 435 |
| Diebold Nixdorf, Inc. 7.75% 3/31/2030 <sup>(a)</sup>  | 5860 | 6231 |
| Ellucian Holdings, Inc. 6.50% 12/1/2029 <sup>(a)</sup>  | 275 | 282 |
| Ellucian Holdings, Inc., Term Loan, (3-month USD CME Term SOFR + 4.75%) 9.077% 11/22/2032 <sup>(b)(c)</sup>  | 300 | 307 |
| Fair Isaac Corp. 4.00% 6/15/2028 <sup>(a)</sup>  | 2340 | 2279 |
| Fair Isaac Corp. 6.00% 5/15/2033 <sup>(a)</sup>  | 3120 | 3156 |
| Finastra USA, Inc., Term Loan B, (3-month USD CME Term SOFR + 7.25%) 11.428% 9/13/2029 <sup>(b)(c)(j)</sup>  | 3610 | 3638 |
| Finastra USA, Inc., Term Loan, (3-month USD CME Term SOFR + 7.25%) 11.428% 9/13/2029 <sup>(b)(c)(j)</sup>  | 75 | 76 |
| Fortress Intermediate 3, Inc. 7.50% 6/1/2031 <sup>(a)</sup>  | 440 | 461 |
| Gartner, Inc. 4.50% 7/1/2028 <sup>(a)</sup>  | 703 | 696 |
| Gartner, Inc. 3.75% 10/1/2030 <sup>(a)</sup>  | 126 | 118 |
| Gen Digital, Inc. 6.25% 4/1/2033 <sup>(a)</sup>  | 725 | 746 |
| Helios Software Holdings, Inc. 8.75% 5/1/2029 <sup>(a)</sup>  | 3675 | 3783 |
| Hughes Satellite Systems Corp. 5.25% 8/1/2026  | 3595 | 3203 |
| Hughes Satellite Systems Corp. 6.625% 8/1/2026  | 3415 | 2435 |
| Imola Merger Corp. 4.75% 5/15/2029 <sup>(a)</sup>  | 300 | 290 |
| ION Trading Technologies SARL 9.50% 5/30/2029 <sup>(a)</sup>  | 2420 | 2497 |
| Kaseya, Inc., Term Loan, (3-month USD CME Term SOFR + 3.25%) 7.577% 3/20/2032 <sup>(b)(c)</sup>  | 623 | 627 |
| Kaseya, Inc., Term Loan, (3-month USD CME Term SOFR + 5.00%) 9.327% 3/20/2033 <sup>(b)(c)</sup>  | 875 | 878 |
| McAfee Corp. 7.375% 2/15/2030 <sup>(a)</sup>  | 275 | 260 |
| NCR Atleos Corp. 9.50% 4/1/2029 <sup>(a)</sup>  | 1785 | 1957 |
| NCR Voyix Corp. 5.125% 4/15/2029 <sup>(a)</sup>  | 343 | 338 |
| Open Text Corp. 3.875% 2/15/2028 <sup>(a)</sup>  | 645 | 626 |
| Open Text Corp. 3.875% 12/1/2029 <sup>(a)</sup>  | 250 | 236 |
| Shift4 Payments, LLC, 6.75% 8/15/2032 <sup>(a)</sup>  | 985 | 1024 |
| Synaptics, Inc. 4.00% 6/15/2029 <sup>(a)</sup>  | 375 | 356 |
| UKG, Inc. 6.875% 2/1/2031 <sup>(a)</sup>  | 1325 | 1376 |
| Unisys Corp. 10.625% 1/15/2031 <sup>(a)</sup>  | 1875 | 1933 |
| Viasat, Inc. 5.625% 4/15/2027 <sup>(a)</sup>  | 5540 | 5522 |
| Viasat, Inc. 6.50% 7/15/2028 <sup>(a)</sup>  | 1505 | 1424 |
| Viasat, Inc. 7.50% 5/30/2031 <sup>(a)</sup>  | 2394 | 2076 |
| Viavi Solutions, Inc. 3.75% 10/1/2029 <sup>(a)</sup>  | 230 | 215 |
| Wolfspeed, Inc. 2.00% PIK and 9.875% Cash 6/23/2030 (13.875% on 6/22/2026) <sup>(d)(g)(j)</sup>  | 3138 | 3174 |
| Wolfspeed, Inc. 2.00% PIK and 9.875% Cash 6/23/2030 (13.875% on 6/23/2026) <sup>(d)(g)(j)</sup>  | 547 | 553 |
| Xerox Holdings Corp. 5.50% 8/15/2028 <sup>(a)</sup>  | 1135 | 869 |
| Xerox Holdings Corp. 8.875% 11/30/2029 <sup>(a)</sup>  | 269 | 203 |
|  |  | 73179 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **229** | American Funds Insurance Series |

---

------

American High-Income Trust (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Real estate 7.03%** |  |  |
| Anywhere Real Estate Group, LLC 5.75% 1/15/2029 <sup>(a)</sup>  | USD2,063 | $1812 |
| Anywhere Real Estate Group, LLC 5.25% 4/15/2030 <sup>(a)</sup>  | 1322 | 1085 |
| Anywhere Real Estate Group, LLC 7.00% 4/15/2030 <sup>(a)</sup>  | 465 | 435 |
| Brookfield Property REIT, Inc. 5.75% 5/15/2026 <sup>(a)</sup>  | 829 | 827 |
| Brookfield Property REIT, Inc., Term Loan B, (3-month USD CME Term SOFR + 3.25%) 7.56% 5/30/2030 <sup>(b)(c)</sup>  | 265 | 265 |
| Fideicomiso Fibra Uno 7.70% 1/23/2032 <sup>(a)</sup>  | 405 | 423 |
| Forestar Group, Inc. 5.00% 3/1/2028 <sup>(a)</sup>  | 92 | 91 |
| Forestar Group, Inc. 6.50% 3/15/2033 <sup>(a)</sup>  | 1900 | 1916 |
| Howard Hughes Corp. (The) 5.375% 8/1/2028 <sup>(a)</sup>  | 1392 | 1383 |
| Howard Hughes Corp. (The) 4.125% 2/1/2029 <sup>(a)</sup>  | 2688 | 2562 |
| Howard Hughes Corp. (The) 4.375% 2/1/2031 <sup>(a)</sup>  | 3643 | 3364 |
| Iron Mountain, Inc. 4.875% 9/15/2027 <sup>(a)</sup>  | 1006 | 1001 |
| Iron Mountain, Inc. 5.00% 7/15/2028 <sup>(a)</sup>  | 367 | 364 |
| Iron Mountain, Inc. 7.00% 2/15/2029 <sup>(a)</sup>  | 210 | 217 |
| Iron Mountain, Inc. 5.25% 7/15/2030 <sup>(a)</sup>  | 3060 | 3020 |
| Iron Mountain, Inc. 4.50% 2/15/2031 <sup>(a)</sup>  | 1660 | 1583 |
| Iron Mountain, Inc. 5.625% 7/15/2032 <sup>(a)</sup>  | 220 | 218 |
| Iron Mountain, Inc. 6.25% 1/15/2033 <sup>(a)</sup>  | 395 | 406 |
| Kennedy-Wilson, Inc. 4.75% 3/1/2029  | 1840 | 1726 |
| Kennedy-Wilson, Inc. 4.75% 2/1/2030  | 2645 | 2425 |
| Kennedy-Wilson, Inc. 5.00% 3/1/2031  | 2560 | 2310 |
| Ladder Capital Finance Holdings LLLP 5.25% 10/1/2025 <sup>(a)</sup>  | 440 | 440 |
| Ladder Capital Finance Holdings LLLP 4.75% 6/15/2029 <sup>(a)</sup>  | 315 | 307 |
| Ladder Capital Finance Holdings LLLP 5.50% 8/1/2030  | 38 | 38 |
| Ladder Capital Finance Holdings LLLP 7.00% 7/15/2031 <sup>(a)</sup>  | 615 | 643 |
| MPT Operating Partnership, LP 5.00% 10/15/2027  | 10058 | 9299 |
| MPT Operating Partnership, LP 4.625% 8/1/2029  | 170 | 134 |
| MPT Operating Partnership, LP 3.50% 3/15/2031  | 1524 | 1079 |
| MPT Operating Partnership, LP 8.50% 2/15/2032 <sup>(a)</sup>  | 4269 | 4471 |
| Park Intermediate Holdings, LLC 5.875% 10/1/2028 <sup>(a)</sup>  | 170 | 170 |
| Park Intermediate Holdings, LLC 4.875% 5/15/2029 <sup>(a)</sup>  | 820 | 795 |
| Park Intermediate Holdings, LLC 7.00% 2/1/2030 <sup>(a)</sup>  | 740 | 761 |
| Pebblebrook Hotel, LP 6.375% 10/15/2029 <sup>(a)</sup>  | 655 | 659 |
| RLJ Lodging Trust, LP 3.75% 7/1/2026 <sup>(a)</sup>  | 45 | 45 |
| RLJ Lodging Trust, LP 4.00% 9/15/2029 <sup>(a)</sup>  | 460 | 430 |
| SBA Communications Corp. 3.125% 2/1/2029  | 131 | 124 |
| Service Properties Trust 5.25% 2/15/2026  | 117 | 116 |
| Service Properties Trust 4.75% 10/1/2026  | 1515 | 1495 |
| Service Properties Trust 4.95% 2/15/2027  | 2131 | 2105 |
| Service Properties Trust 5.50% 12/15/2027  | 750 | 744 |
| Service Properties Trust 3.95% 1/15/2028  | 3031 | 2802 |
| Service Properties Trust 8.375% 6/15/2029  | 2460 | 2560 |
| Service Properties Trust 4.95% 10/1/2029  | 3518 | 3073 |
| Service Properties Trust 4.375% 2/15/2030  | 3180 | 2677 |
| Service Properties Trust 8.625% 11/15/2031 <sup>(a)</sup>  | 4850 | 5210 |
| Service Properties Trust 8.875% 6/15/2032  | 1230 | 1266 |
| VICI Properties, LP 3.875% 2/15/2029 <sup>(a)</sup>  | 1130 | 1094 |
|  |  | 69970 |
| **Industrials 6.87%** |  |  |
| AAdvantage Loyalty IP, Ltd. 5.50% 4/20/2026 <sup>(a)</sup>  | 108 | 108 |
| AAR Escrow Issuer, LLC 6.75% 3/15/2029 <sup>(a)</sup>  | 261 | 271 |
| ADT Security Corp. 4.125% 8/1/2029 <sup>(a)</sup>  | 200 | 193 |
| Albion Financing 1 SARL 7.00% 5/21/2030 <sup>(a)</sup>  | 1120 | 1146 |
| Allison Transmission, Inc. 3.75% 1/30/2031 <sup>(a)</sup>  | 1045 | 959 |
| Ambipar Lux SARL 9.875% 2/6/2031 <sup>(a)</sup>  | 226 | 214 |
| Ambipar Lux SARL 10.875% 2/5/2033 <sup>(a)</sup>  | 200 | 190 |
| Amentum Holdings, Inc. 7.25% 8/1/2032 <sup>(a)</sup>  | 1145 | 1179 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **230** |

---

------

American High-Income Trust (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Industrials (continued)** |  |  |
| American Airlines, Inc. 8.50% 5/15/2029 <sup>(a)</sup>  | USD415 | $435 |
| Aramark Services, Inc. 5.00% 2/1/2028 <sup>(a)</sup>  | 760 | 758 |
| ATI, Inc. 4.875% 10/1/2029  | 690 | 676 |
| ATI, Inc. 7.25% 8/15/2030  | 375 | 393 |
| ATI, Inc. 5.125% 10/1/2031  | 775 | 758 |
| Avis Budget Car Rental, LLC 5.75% 7/15/2027 <sup>(a)</sup>  | 767 | 761 |
| Avis Budget Car Rental, LLC 4.75% 4/1/2028 <sup>(a)</sup>  | 55 | 53 |
| Avis Budget Car Rental, LLC 5.375% 3/1/2029 <sup>(a)</sup>  | 925 | 892 |
| Avis Budget Car Rental, LLC 8.25% 1/15/2030 <sup>(a)</sup>  | 35 | 37 |
| Avis Budget Car Rental, LLC 8.00% 2/15/2031 <sup>(a)</sup>  | 445 | 461 |
| Avis Budget Group, Inc. 5.75% 7/15/2027 <sup>(a)</sup>  | 61 | 61 |
| Avolon Holdings Funding, Ltd. 2.528% 11/18/2027 <sup>(a)</sup>  | 2098 | 1995 |
| Axon Enterprise, Inc. 6.125% 3/15/2030 <sup>(a)</sup>  | 935 | 964 |
| Axon Enterprise, Inc. 6.25% 3/15/2033 <sup>(a)</sup>  | 1320 | 1362 |
| Beach Acquisition Bidco, LLC, 10.75% PIK or 10.00% Cash 7/15/2033 <sup>(a)(d)</sup>  | 605 | 629 |
| Boeing Co. (The) 3.60% 5/1/2034  | 190 | 168 |
| Boeing Co. (The) 5.805% 5/1/2050  | 34 | 33 |
| Boeing Co. (The) 6.858% 5/1/2054  | 352 | 386 |
| Boeing Co. (The) 7.008% 5/1/2064  | 120 | 132 |
| Bombardier, Inc. 7.45% 5/1/2034 <sup>(a)</sup>  | 115 | 125 |
| Brink's Co. (The) 6.50% 6/15/2029 <sup>(a)</sup>  | 170 | 175 |
| Brink's Co. (The) 6.75% 6/15/2032 <sup>(a)</sup>  | 170 | 177 |
| BWX Technologies, Inc. 4.125% 6/30/2028 <sup>(a)</sup>  | 165 | 161 |
| BWX Technologies, Inc. 4.125% 4/15/2029 <sup>(a)</sup>  | 335 | 323 |
| Chart Industries, Inc. 7.50% 1/1/2030 <sup>(a)</sup>  | 523 | 548 |
| Clarivate Science Holdings Corp. 3.875% 7/1/2028 <sup>(a)</sup>  | 915 | 878 |
| Clarivate Science Holdings Corp. 4.875% 7/1/2029 <sup>(a)</sup>  | 890 | 839 |
| Clean Harbors, Inc. 4.875% 7/15/2027 <sup>(a)</sup>  | 766 | 763 |
| Clean Harbors, Inc. 6.375% 2/1/2031 <sup>(a)</sup>  | 116 | 119 |
| CoreLogic, Inc. 4.50% 5/1/2028 <sup>(a)</sup>  | 3004 | 2868 |
| CoreLogic, Inc., Term Loan, (3-month USD CME Term SOFR + 6.50%) 10.941% 6/4/2029 <sup>(b)(c)</sup>  | 660 | 642 |
| Dun & Bradstreet Corp. (The) 5.00% 12/15/2029 <sup>(a)</sup>  | 980 | 1005 |
| Enviri Corp. 5.75% 7/31/2027 <sup>(a)</sup>  | 1295 | 1279 |
| EquipmentShare.com, Inc. 9.00% 5/15/2028 <sup>(a)</sup>  | 2870 | 3036 |
| EquipmentShare.com, Inc. 8.625% 5/15/2032 <sup>(a)</sup>  | 490 | 521 |
| FTAI Aviation Investors, LLC 5.50% 5/1/2028 <sup>(a)</sup>  | 700 | 697 |
| FTAI Aviation Investors, LLC 7.875% 12/1/2030 <sup>(a)</sup>  | 45 | 48 |
| Garda World Security Corp. 8.375% 11/15/2032 <sup>(a)</sup>  | 1735 | 1784 |
| Herc Holdings, Inc. 5.50% 7/15/2027 <sup>(a)</sup>  | 280 | 280 |
| Herc Holdings, Inc. 6.625% 6/15/2029 <sup>(a)</sup>  | 455 | 467 |
| Herc Holdings, Inc. 7.00% 6/15/2030 <sup>(a)</sup>  | 890 | 930 |
| Herc Holdings, Inc. 7.25% 6/15/2033 <sup>(a)</sup>  | 1110 | 1164 |
| Hertz Corp. (The) 4.625% 12/1/2026 <sup>(a)</sup>  | 645 | 579 |
| Hertz Corp. (The), Term Loan B-EXIT, (3-month USD CME Term SOFR + 3.50%) 8.041% 6/30/2028 <sup>(b)(c)</sup>  | 71 | 59 |
| Hertz Corp. (The), Term Loan C-EXIT, (3-month USD CME Term SOFR + 3.50%) 8.041% 6/30/2028 <sup>(b)(c)</sup>  | 15 | 13 |
| Icahn Enterprises, LP 6.25% 5/15/2026  | 818 | 813 |
| Icahn Enterprises, LP 5.25% 5/15/2027  | 3754 | 3641 |
| Icahn Enterprises, LP 9.75% 1/15/2029  | 1090 | 1060 |
| Icahn Enterprises, LP 4.375% 2/1/2029  | 855 | 719 |
| Icahn Enterprises, LP 10.00% 11/15/2029 <sup>(a)</sup>  | 90 | 89 |
| LATAM Airlines Group SA 7.625% 1/7/2031 <sup>(a)</sup>  | 810 | 815 |
| Mileage Plus Holdings, LLC 6.50% 6/20/2027 <sup>(a)</sup>  | 854 | 856 |
| Miter Brands Acquisition Holdco, Inc. 6.75% 4/1/2032 <sup>(a)</sup>  | 309 | 317 |
| Moog, Inc. 4.25% 12/9/2027 <sup>(a)</sup>  | 395 | 387 |
| Mueller Water Products, Inc. 4.00% 6/15/2029 <sup>(a)</sup>  | 275 | 264 |
| NESCO Holdings II, Inc. 5.50% 4/15/2029 <sup>(a)</sup>  | 1105 | 1077 |
| OneSky Flight, LLC 8.875% 12/15/2029 <sup>(a)</sup>  | 360 | 375 |
| Peraton Corp., Term Loan B, (3-month USD CME Term SOFR + 3.75%) 8.177% 2/1/2028 <sup>(b)(c)</sup>  | 1035 | 915 |
| Pitney Bowes, Inc. 6.875% 3/15/2027 <sup>(a)</sup>  | 600 | 606 |
| PM General Purchaser, LLC 9.50% 10/1/2028 <sup>(a)</sup>  | 215 | 149 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **231** | American Funds Insurance Series |

---

------

American High-Income Trust (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Industrials (continued)** |  |  |
| Prime Security Services Borrower, LLC 3.375% 8/31/2027 <sup>(a)</sup>  | USD475 | $461 |
| QXO Building Products, Inc. 6.75% 4/30/2032 <sup>(a)</sup>  | 1745 | 1802 |
| QXO Building Products, Inc., Term Loan B, (1-month USD CME Term SOFR + 3.00%) 7.296% 4/30/2032 <sup>(b)(c)</sup>  | 185 | 187 |
| Reworld Holding Corp. 4.875% 12/1/2029 <sup>(a)</sup>  | 1155 | 1100 |
| Reworld Holding Corp. 5.00% 9/1/2030  | 1455 | 1378 |
| Roller Bearing Company of America, Inc. 4.375% 10/15/2029 <sup>(a)</sup>  | 110 | 107 |
| Sabre GLBL, Inc. 11.125% 7/15/2030 <sup>(a)</sup>  | 2610 | 2733 |
| Sensata Technologies, Inc. 3.75% 2/15/2031 <sup>(a)</sup>  | 795 | 725 |
| SkyMiles IP, Ltd. 4.75% 10/20/2028 <sup>(a)</sup>  | 440 | 441 |
| Spirit AeroSystems, Inc. 4.60% 6/15/2028  | 798 | 785 |
| Spirit AeroSystems, Inc. 9.375% 11/30/2029 <sup>(a)</sup>  | 34 | 36 |
| Spirit AeroSystems, Inc. 9.75% 11/15/2030 <sup>(a)</sup>  | 195 | 215 |
| Spirit AeroSystems, Inc., Term Loan, (3-month CME Term SOFR + 4.25%) 8.78% 1/15/2027 <sup>(b)(c)</sup>  | 1081 | 1083 |
| Standard Building Solutions, Inc. 6.50% 8/15/2032 <sup>(a)</sup>  | 435 | 446 |
| Texas Combined Tirz I, LLC 0% 12/7/2062 <sup>(a)(f)</sup>  | 100 | 100 |
| Titan International, Inc. 7.00% 4/30/2028  | 750 | 754 |
| TransDigm, Inc. 6.75% 8/15/2028 <sup>(a)</sup>  | 75 | 77 |
| TransDigm, Inc. 6.875% 12/15/2030 <sup>(a)</sup>  | 355 | 369 |
| TransDigm, Inc. 6.625% 3/1/2032 <sup>(a)</sup>  | 1540 | 1596 |
| TransDigm, Inc. 6.00% 1/15/2033 <sup>(a)</sup>  | 405 | 408 |
| TransDigm, Inc. 6.375% 5/31/2033 <sup>(a)</sup>  | 400 | 401 |
| Uber Technologies, Inc. 7.50% 9/15/2027 <sup>(a)</sup>  | 395 | 399 |
| Uber Technologies, Inc. 6.25% 1/15/2028 <sup>(a)</sup>  | 755 | 759 |
| Uber Technologies, Inc. 4.50% 8/15/2029 <sup>(a)</sup>  | 310 | 308 |
| United Rentals (North America), Inc. 6.00% 12/15/2029 <sup>(a)</sup>  | 115 | 118 |
| United Rentals (North America), Inc. 3.875% 2/15/2031  | 745 | 701 |
| United Rentals (North America), Inc. 3.75% 1/15/2032  | 570 | 524 |
| United Rentals (North America), Inc. 6.125% 3/15/2034 <sup>(a)</sup>  | 310 | 320 |
| Waste Pro USA, Inc. 7.00% 2/1/2033 <sup>(a)</sup>  | 225 | 234 |
| WESCO Distribution, Inc. 6.625% 3/15/2032 <sup>(a)</sup>  | 1600 | 1665 |
| WESCO Distribution, Inc. 6.375% 3/15/2033 <sup>(a)</sup>  | 320 | 331 |
| XPO, Inc. 6.25% 6/1/2028 <sup>(a)</sup>  | 70 | 71 |
| XPO, Inc. 7.125% 6/1/2031 <sup>(a)</sup>  | 533 | 559 |
| XPO, Inc. 7.125% 2/1/2032 <sup>(a)</sup>  | 390 | 409 |
|  |  | 68379 |
| **Consumer staples 3.50%** |  |  |
| Albertsons Cos., Inc. 3.50% 3/15/2029 <sup>(a)</sup>  | 1198 | 1136 |
| Albertsons Cos., Inc. 4.875% 2/15/2030 <sup>(a)</sup>  | 465 | 458 |
| Amer Sports Co. 6.75% 2/16/2031 <sup>(a)</sup>  | 130 | 135 |
| B&G Foods, Inc. 5.25% 9/15/2027  | 1758 | 1603 |
| B&G Foods, Inc. 8.00% 9/15/2028 <sup>(a)</sup>  | 1375 | 1326 |
| Central Garden & Pet Co. 4.125% 10/15/2030  | 915 | 865 |
| Central Garden & Pet Co. 4.125% 4/30/2031 <sup>(a)</sup>  | 1740 | 1617 |
| Coty, Inc. 5.00% 4/15/2026 <sup>(a)</sup>  | 280 | 281 |
| Coty, Inc. 4.75% 1/15/2029 <sup>(a)</sup>  | 1070 | 1047 |
| Coty, Inc. 6.625% 7/15/2030 <sup>(a)</sup>  | 380 | 389 |
| Darling Ingredients, Inc. 6.00% 6/15/2030 <sup>(a)</sup>  | 1350 | 1369 |
| Fiesta Purchaser, Inc. 7.875% 3/1/2031 <sup>(a)</sup>  | 915 | 972 |
| Fiesta Purchaser, Inc. 9.625% 9/15/2032 <sup>(a)</sup>  | 775 | 820 |
| Fiesta Purchaser, Inc., Term Loan, (3-month USD CME Term SOFR + 3.25%) 7.577% 2/12/2031 <sup>(b)(c)</sup>  | 158 | 159 |
| H.J. Heinz Co. 3.875% 5/15/2027  | 275 | 273 |
| H.J. Heinz Co. 4.375% 6/1/2046  | 26 | 21 |
| Ingles Markets, Inc. 4.00% 6/15/2031 <sup>(a)</sup>  | 370 | 346 |
| KeHE Distributors, LLC 9.00% 2/15/2029 <sup>(a)</sup>  | 485 | 503 |
| Lamb Weston Holdings, Inc. 4.875% 5/15/2028 <sup>(a)</sup>  | 75 | 75 |
| Lamb Weston Holdings, Inc. 4.125% 1/31/2030 <sup>(a)</sup>  | 1920 | 1833 |
| Lamb Weston Holdings, Inc. 4.375% 1/31/2032 <sup>(a)</sup>  | 480 | 451 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **232** |

---

------

American High-Income Trust (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Consumer staples (continued)** |  |  |
| Mars, Inc. 4.60% 3/1/2028 <sup>(a)</sup>  | USD150 | $151 |
| Mars, Inc. 5.20% 3/1/2035 <sup>(a)</sup>  | 45 | 46 |
| Mars, Inc. 5.70% 5/1/2055 <sup>(a)</sup>  | 45 | 45 |
| Opal Bidco SAS 6.50% 3/31/2032 <sup>(a)</sup>  | 660 | 674 |
| Performance Food Group, Inc. 5.50% 10/15/2027 <sup>(a)</sup>  | 705 | 704 |
| Performance Food Group, Inc. 4.25% 8/1/2029 <sup>(a)</sup>  | 573 | 553 |
| Performance Food Group, Inc. 6.125% 9/15/2032 <sup>(a)</sup>  | 725 | 742 |
| Post Holdings, Inc. 5.50% 12/15/2029 <sup>(a)</sup>  | 451 | 449 |
| Post Holdings, Inc. 4.625% 4/15/2030 <sup>(a)</sup>  | 1815 | 1746 |
| Post Holdings, Inc. 4.50% 9/15/2031 <sup>(a)</sup>  | 1145 | 1064 |
| Post Holdings, Inc. 6.25% 2/15/2032 <sup>(a)</sup>  | 2570 | 2644 |
| Post Holdings, Inc. 6.375% 3/1/2033 <sup>(a)</sup>  | 415 | 420 |
| Prestige Brands, Inc. 5.125% 1/15/2028 <sup>(a)</sup>  | 138 | 137 |
| Prestige Brands, Inc. 3.75% 4/1/2031 <sup>(a)</sup>  | 1275 | 1176 |
| TreeHouse Foods, Inc. 4.00% 9/1/2028  | 2130 | 1944 |
| United Natural Foods, Inc. 6.75% 10/15/2028 <sup>(a)</sup>  | 963 | 951 |
| United Natural Foods, Inc., Term Loan B, (3-month USD CME Term SOFR + 4.75%) 9.077% 5/1/2031 <sup>(b)(c)</sup>  | 2738 | 2773 |
| US Foods, Inc. 4.625% 6/1/2030 <sup>(a)</sup>  | 510 | 497 |
| US Foods, Inc. 5.75% 4/15/2033 <sup>(a)</sup>  | 470 | 471 |
| Walgreens Boots Alliance, Inc. 3.45% 6/1/2026  | 2030 | 1987 |
|  |  | 34853 |
| **Utilities 1.94%** |  |  |
| AmeriGas Partners, LP 5.75% 5/20/2027  | 302 | 300 |
| Calpine Corp. 4.50% 2/15/2028 <sup>(a)</sup>  | 150 | 149 |
| Calpine Corp. 3.75% 3/1/2031 <sup>(a)</sup>  | 500 | 475 |
| CMS Energy Corp., junior subordinated, 6.50% 6/1/2055 (5-year UST Yield Curve Rate T Note Constant <br> Maturity + 1.961% on 6/1/2035) <sup>(g)</sup>  | 470 | 472 |
| Edison International 6.25% 3/15/2030  | 50 | 51 |
| Emera, Inc. 6.75% 6/15/2076 (3-month USD-LIBOR + 5.44% on 6/15/2026) <sup>(g)(k)</sup>  | 1155 | 1165 |
| Exelon Corp., junior subordinated, 6.50% 3/15/2055 (5-year UST Yield Curve Rate T Note Constant Maturity <br> + 1.975% on 3/15/2035) <sup>(g)</sup>  | 350 | 356 |
| FirstEnergy Corp. 2.25% 9/1/2030  | 980 | 871 |
| Ithaca Energy (North Sea) PLC 8.125% 10/15/2029 <sup>(a)</sup>  | 355 | 366 |
| Lightning Power, LLC 7.25% 8/15/2032 <sup>(a)</sup>  | 650 | 685 |
| Long Ridge Energy, LLC, 8.75% 2/15/2032 <sup>(a)</sup>  | 2755 | 2864 |
| Long Ridge Energy, LLC, Term Loan B, (3-month USD CME Term SOFR + 4.50%) 8.796% 2/19/2032 <sup>(b)(c)</sup>  | 848 | 839 |
| MI Windows and Doors, LLC, Term Loan B2, (3-month USD CME Term SOFR + 3.00%) 7.327% <br>3/28/2031 <sup>(b)(c)</sup>  | 277 | 278 |
| NRG Energy, Inc. 3.625% 2/15/2031 <sup>(a)</sup>  | 110 | 101 |
| Pacific Gas and Electric Co. 3.30% 8/1/2040  | 280 | 201 |
| Pacific Gas and Electric Co. 4.95% 7/1/2050  | 745 | 601 |
| Pacific Gas and Electric Co. 3.50% 8/1/2050  | 2020 | 1297 |
| PacifiCorp, junior subordinated, 7.375% 9/15/2055 (5-year UST Yield Curve Rate T Note Constant Maturity <br> + 3.319% on 9/15/2030) <sup>(g)</sup>  | 75 | 78 |
| PG&E Corp. 5.00% 7/1/2028  | 390 | 380 |
| PG&E Corp. 5.25% 7/1/2030  | 2800 | 2669 |
| PG&E Corp., junior subordinated, 7.375% 3/15/2055 (5-year UST Yield Curve Rate T Note Constant Maturity <br> + 3.883% on 3/15/2030) <sup>(g)</sup>  | 2050 | 1947 |
| Saavi Energia SARL 8.875% 2/10/2035 <sup>(a)</sup>  | 620 | 648 |
| Talen Energy Supply, LLC 8.625% 6/1/2030 <sup>(a)</sup>  | 1227 | 1316 |
| Talen Energy Supply, LLC, Term Loan B, (3-month USD CME Term SOFR + 2.50%) 6.808% 5/17/2030 <sup>(b)(c)</sup>  | 279 | 280 |
| Trinidad Generation Unlimited 7.75% 6/16/2033 <sup>(a)</sup>  | 440 | 456 |
| XPLR Infrastructure Operating Partners, LP 8.375% 1/15/2031 <sup>(a)</sup>  | 395 | 422 |
|  |  | 19267 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **233** | American Funds Insurance Series |

---

------

American High-Income Trust (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Municipals 0.05%** |  |  |
| I-20 Lancaster Fund, LLC 12.00% 1/15/2035 <sup>(a)</sup>  | USD546 | $529 |
| **Total corporate bonds, notes & loans** |  | 877237 |
| **Mortgage-backed obligations 0.06%** | **Mortgage-backed obligations 0.06%** | **Mortgage-backed obligations 0.06%** |
| **Collateralized mortgage-backed obligations 0.06%** |  |  |
| Treehouse Park Improvement Association No.1 9.75% 12/1/2033 <sup>(a)(f)</sup>  | 603 | 603 |
| **Municipals 0.04%** | **Municipals 0.04%** | **Municipals 0.04%** |
| **Puerto Rico 0.04%** |  |  |
| GO Taxable Bonds, Series 2022, 0% 11/1/2043 <sup>(c)</sup>  | 327 | 202 |
| GO Taxable Bonds, CAB, Series 2022, 0% 11/1/2051  | 361 | 228 |
| **Total municipals** |  | 430 |
| **Total bonds, notes & other debt instruments** (cost: $880,995,000) |  | 878270 |
| Convertible bonds & notes 0.05% |  |  |
| **Communication services 0.05%** |  |  |
| EchoStar Corp., convertible notes, 3.875% PIK 11/30/2030 <sup>(d)</sup>  | 379 | 447 |
| **Total convertible bonds & notes** (cost: $403,000) |  | 447 |
| Common stocks 5.94% | Shares |  |
| **Health care 1.78%** |  |  |
| Rotech Healthcare, Inc. <sup>(f)(h)(j)</sup>  | 201793 | 15193 |
| Endo, Inc. <sup>(h)</sup>  | 98388 | 2065 |
| Endo GUC Trust, Class A1 <sup>(a)(h)</sup>  | 192719 | 107 |
| Endo, Inc., 1L 7.50% Escrow <sup>(f)(h)</sup>  | 5505000 | — <br><sup>(i)</sup><br>|
| Endo, Inc., 1L 6.875% Escrow <sup>(f)(h)</sup>  | 520000 | — <br><sup>(i)</sup><br>|
| Endo, Inc., 1L 6.125% Escrow <sup>(f)(h)</sup>  | 525000 | — <br><sup>(i)</sup><br>|
| Mallinckrodt PLC <sup>(h)</sup>  | 3631 | 308 |
|  |  | 17673 |
| **Information technology 1.57%** |  |  |
| Diebold Nixdorf, Inc. <sup>(h)</sup>  | 281243 | 15581 |
| **Utilities 1.13%** |  |  |
| Talen Energy Corp. <sup>(h)</sup>  | 37868 | 11011 |
| PG&E Corp.  | 18786 | 262 |
|  |  | 11273 |
| **Energy 1.04%** |  |  |
| Constellation Oil Services Holding SA (NDR) <sup>(h)</sup>  | 11240370 | 5018 |
| Ascent Resources, LLC, Class A <sup>(f)(j)</sup>  | 62978 | 3113 |
| Expand Energy Corp.  | 6708 | 784 |
| Weatherford International  | 10059 | 506 |
| New Fortress Energy, Inc., Class A <sup>(h)</sup>  | 109371 | 363 |
| Altera Infrastructure, LP <sup>(f)</sup>  | 9127 | 282 |
| Mesquite Energy, Inc. <sup>(f)(h)</sup>  | 3558 | 202 |
| Exxon Mobil Corp.  | 739 | 80 |
| Bighorn Permian Resources, LLC <sup>(f)</sup>  | 2894 | — <br><sup>(i)</sup><br>|
|  |  | 10348 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **234** |

---

------

American High-Income Trust (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Consumer discretionary 0.35%** |  |  |
| Aimbridge Topco, LLC <sup>(f)(h)</sup>  | 46955 | $3535 |
| Party City Holdco, Inc. <sup>(f)(h)</sup>  | 126254 | — <br><sup>(i)</sup><br>|
| Party City Holdco, Inc. <sup>(a)(f)(h)</sup>  | 1260 | — <br><sup>(i)</sup><br>|
| NMG Parent, LLC <sup>(f)(h)</sup>  | 8350 | — <br><sup>(i)</sup><br>|
|  |  | 3535 |
| **Communication services 0.04%** |  |  |
| Intelsat SA  | 8182 | 355 |
| iHeartMedia, Inc., Class A <sup>(h)</sup>  | 22639 | 40 |
| DSG TopCo, Inc. <sup>(h)</sup>  | 2108 | 32 |
|  |  | 427 |
| **Financials 0.03%** |  |  |
| Navient Corp.  | 20000 | 282 |
| **Materials 0.00%** |  |  |
| Venator Materials PLC <sup>(f)(h)</sup>  | 3232 | — <br><sup>(i)</sup><br>|
| **Total common stocks** (cost: $41,230,000) |  | 59119 |
| Preferred securities 0.40% |  |  |
| **Consumer discretionary 0.25%** |  |  |
| MYT Holdings, LLC, Series A, 10.00% preferred shares <sup>(h)</sup>  | 1915904 | 2515 |
| **Industrials 0.15%** |  |  |
| ACR III LSC Holdings, LLC, Series B, preferred shares <sup>(a)(f)(h)</sup>  | 1022 | 1468 |
| **Total preferred securities** (cost: $2,772,000) |  | 3983 |
| Rights & warrants 0.01% |  |  |
| **Energy 0.01%** |  |  |
| Expand Energy Corporation, Class C, warrants, expire 2/9/2026 <sup>(h)</sup>  | 457 | 47 |
| **Total rights & warrants** (cost: $275,000) | **Total rights & warrants** (cost: $275,000) | 47 |
| Short-term securities 4.54% |  |  |
| **Money market investments 4.54%** | **Money market investments 4.54%** | **Money market investments 4.54%** |
| Capital Group Central Cash Fund 4.35% <sup>(l)(m)</sup>  | 451694 | 45170 |
| **Total short-term securities** (cost: $45,164,000) | **Total short-term securities** (cost: $45,164,000) | 45170 |
| **Total investment securities 99.21%** (cost: $970,839,000) |  | 987036 |
| Other assets less liabilities 0.79% |  | 7903 |
| **Net assets 100.00%** |  | $994939 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **235** | American Funds Insurance Series |

---

------

American High-Income Trust (continued)

**Futures contracts**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Contracts | Type | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value and <br>unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| 2 Year U.S. Treasury Note Futures | Long | 89 | 10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD18,514 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $73 |
| 5 Year U.S. Treasury Note Futures | Long | 101 | 10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11009 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 124 |
| 10 Year Ultra U.S. Treasury Note Futures | Short | 8 | 9/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (914)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (23)<br>|
| 10 Year U.S. Treasury Note Futures | Short | 13 | 9/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1458)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (31)<br>|
| 30 Year Ultra U.S. Treasury Bond Futures | Short | 1 | 9/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (119)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5)<br>|
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $138 |

---

**Swap contracts**

------

**Credit default swaps** 

**Centrally cleared credit default swaps on credit indices — buy protection** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Reference <br>index<br>| &nbsp;&nbsp;&nbsp;&nbsp; Financing <br>rate paid<br>| &nbsp;&nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| &nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Value at <br>6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Upfront <br>premium <br>paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(received) <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| CDX.NA.HY.44 | 5.00% | Quarterly | &nbsp;&nbsp;&nbsp;&nbsp; 6/20/2030 | &nbsp;&nbsp;&nbsp;&nbsp; USD26,570 | &nbsp;&nbsp;&nbsp;&nbsp; $(1994)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(1513)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(482)<br>|

---

**Swap contracts**

------

**Credit default swaps** 

**Centrally cleared credit default swaps on credit indices — sell protection** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Reference <br>index<br>| &nbsp;&nbsp;&nbsp;&nbsp; Financing <br>rate received<br>| &nbsp;&nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| &nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <sup>(n)</sup> <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Value at <br>6/30/2025 <sup>(o)</sup> <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Upfront <br>premium <br>paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(received) <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| CDX.NA.IG.44 | 1.00% | Quarterly | &nbsp;&nbsp;&nbsp;&nbsp; 6/20/2030 | &nbsp;&nbsp;&nbsp;&nbsp; USD37 | &nbsp;&nbsp;&nbsp;&nbsp; $1 | &nbsp;&nbsp;&nbsp;&nbsp; $1 | &nbsp;&nbsp;&nbsp;&nbsp; $— <br><sup>(i)</sup><br>|

---

**Investments in affiliates** <sup>(m)</sup>

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>1/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>6/30/2025 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Short-term securities 4.54%** |  |  |  |  |  |  |  |
| **Money market investments 4.54%** |  |  |  |  |  |  |  |
| Capital Group Central Cash Fund 4.35% <sup>(l)</sup>  | $45641 | &nbsp;&nbsp; $122689 | &nbsp;&nbsp; $123157 | &nbsp;&nbsp; $(6)<br>| &nbsp;&nbsp; $2 | &nbsp;&nbsp; $45169 | &nbsp;&nbsp; $863 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **236** |

---

------

American High-Income Trust (continued)

**Restricted securities** <sup>(j)</sup>

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Acquisition <br>date(s)<br>| Cost <br>(000)<br>| Value <br>(000)<br>| Percent <br>of net <br>assets<br>|
| Rotech Healthcare, Inc. <sup>(f)(h)</sup> <br>| 9/26/2013 | $4331 | $15193 | 1.53<br> %<br>|
| Wolfspeed, Inc. 2.00% PIK and 9.875% Cash 6/23/2030 <br> (13.875% on 6/22/2026) <sup>(d)(g)</sup> <br>| 6/23/2023-3/24/2025 | 3077 | 3174 | 0.32 |
| Wolfspeed, Inc. 2.00% PIK and 9.875% Cash 6/23/2030 <br> (13.875% on 6/23/2026) <sup>(d)(g)</sup> <br>| 10/22/2024-3/24/2025 | 523 | 553 | 0.06 |
| Finastra USA, Inc., Term Loan B, (3-month USD CME Term SOFR <br> + 7.25%) 11.428% 9/13/2029 <sup>(b)(c)</sup> <br>| 9/13/2023 | 3554 | 3638 | 0.36 |
| Finastra USA, Inc., Term Loan, (3-month USD CME Term SOFR + <br> 7.25%) 11.428% 9/13/2029 <sup>(b)(c)</sup> <br>| 9/13/2023-6/13/2025 | 75 | 76 | 0.01 |
| Ascent Resources, LLC, Class A <sup>(f)</sup> <br>| 11/15/2016 | 302 | 3113 | 0.31 |
| **Total** |  | $11862 | $25747 | 2.59<br> %<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Acquired in a transaction exempt from registration under Rule 144A or, for commercial paper, Section 4(a)(2) of the Securities Act of 1933. May be resold in the U.S. in transactions exempt from registration, normally to qualified institutional buyers. The total value of all such securities was $639,255,000, which represented 64.25% of the net assets of the fund. 

<sup>(b)</sup> Loan participations and assignments; may be subject to legal or contractual restrictions on resale. The total value of all such loans was $39,300,000, which represented 3.95% of the net assets of the fund. 

<sup>(c)</sup> Coupon rate may change periodically. Reference rate and spread are as of the most recent information available. Some coupon rates are determined by the issuer or agent based on current market conditions; therefore, the reference rate and spread are not available. 

<sup>(d)</sup> Payment in kind; the issuer has the option of paying additional securities in lieu of cash. Payment methods and rates are as of the most recent payment when available. 

<sup>(e)</sup> Scheduled interest and/or principal payment was not received.

<sup>(f)</sup> Value determined using significant unobservable inputs.

<sup>(g)</sup> Step bond; coupon rate may change at a later date.

<sup>(h)</sup> Security did not produce income during the last 12 months.

<sup>(i)</sup> Amount less than one thousand.

<sup>(j)</sup> Restricted security, other than Rule 144A securities or commercial paper issued pursuant to Section 4(a)(2) of the Securities Act of 1933. The total value of all such restricted securities was $25,747,000, which represented 2.59% of the net assets of the fund. 

<sup>(k)</sup> Securities referencing LIBOR are expected to transition to an alternative reference rate by the security's next scheduled coupon reset date.

<sup>(l)</sup> Rate represents the seven-day yield at 6/30/2025.

<sup>(m)</sup> Part of the same "group of investment companies" as the fund as defined under the Investment Company Act of 1940, as amended.

<sup>(n)</sup> The maximum potential amount the fund may pay as a protection seller should a credit event occur.

<sup>(o)</sup> The prices and resulting values for credit default swap indices serve as an indicator of the current status of the payment/performance risk. As the value of a sell protection credit default swap increases or decreases, when compared to the notional amount of the swap, the payment/performance risk may decrease or increase, respectively. 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **Key to abbreviation(s)** |
| CAB = Capital Appreciation Bonds |
| CME = CME Group |
| CMS = Constant Maturity Swap |
| DAC = Designated Activity Company |
| EUR = Euros |
| GO = General Obligation |
| LIBOR = London Interbank Offered Rate |
| NDR = Norwegian Depositary Receipts |
| PIK = Payment In Kind |
| REIT = Real Estate Investment Trust |
| SOFR = Secured Overnight Financing Rate |
| USD = U.S. dollars |
| UST = U.S. Treasury |

---

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **237** | American Funds Insurance Series |

---

------

American Funds Mortgage Fund

**Investment portfolio** June 30, 2025unaudited

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments 94.97% | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations 89.32%** | **Mortgage-backed obligations 89.32%** | **Mortgage-backed obligations 89.32%** |
| **Federal agency mortgage-backed obligations 88.12%** |  |  |
| Fannie Mae Pool #695412 5.00% 6/1/2033 <sup>(a)</sup>  | USD— <br><sup>(b)</sup><br>| $— <br><sup>(b)</sup><br>|
| Fannie Mae Pool #AD3566 5.00% 10/1/2035 <sup>(a)</sup>  | 1 | 1 |
| Fannie Mae Pool #256583 5.00% 12/1/2036 <sup>(a)(c)</sup>  | 28 | 28 |
| Fannie Mae Pool #CB3701 2.50% 5/1/2037 <sup>(a)</sup>  | 97 | 91 |
| Fannie Mae Pool #931768 5.00% 8/1/2039 <sup>(a)</sup>  | 1 | 1 |
| Fannie Mae Pool #AC0794 5.00% 10/1/2039 <sup>(a)</sup>  | 4 | 5 |
| Fannie Mae Pool #932606 5.00% 2/1/2040 <sup>(a)</sup>  | 2 | 2 |
| Fannie Mae Pool #MA4232 2.00% 1/1/2041 <sup>(a)</sup>  | 126 | 109 |
| Fannie Mae Pool #BQ7816 1.50% 4/1/2041 <sup>(a)</sup>  | 221 | 183 |
| Fannie Mae Pool #BR0986 1.50% 5/1/2041 <sup>(a)</sup>  | 278 | 230 |
| Fannie Mae Pool #AE1248 5.00% 6/1/2041 <sup>(a)</sup>  | 7 | 7 |
| Fannie Mae Pool #MA4387 2.00% 7/1/2041 <sup>(a)</sup>  | 15 | 13 |
| Fannie Mae Pool #MA4388 2.50% 7/1/2041 <sup>(a)</sup>  | 71 | 63 |
| Fannie Mae Pool #MA4447 2.50% 10/1/2041 <sup>(a)</sup>  | 150 | 133 |
| Fannie Mae Pool #FM9117 2.50% 10/1/2041 <sup>(a)</sup>  | 82 | 73 |
| Fannie Mae Pool #AJ1873 4.00% 10/1/2041 <sup>(a)</sup>  | 5 | 5 |
| Fannie Mae Pool #AE1274 5.00% 10/1/2041 <sup>(a)</sup>  | 4 | 4 |
| Fannie Mae Pool #AE1277 5.00% 11/1/2041 <sup>(a)</sup>  | 3 | 3 |
| Fannie Mae Pool #MA4502 2.50% 12/1/2041 <sup>(a)</sup>  | 170 | 151 |
| Fannie Mae Pool #AE1283 5.00% 12/1/2041 <sup>(a)</sup>  | 2 | 2 |
| Fannie Mae Pool #MA4521 2.50% 1/1/2042 <sup>(a)</sup>  | 213 | 190 |
| Fannie Mae Pool #AE1290 5.00% 2/1/2042 <sup>(a)</sup>  | 4 | 4 |
| Fannie Mae Pool #AT0300 3.50% 3/1/2043 <sup>(a)</sup>  | 1 | 1 |
| Fannie Mae Pool #AT3954 3.50% 4/1/2043 <sup>(a)</sup>  | 1 | 1 |
| Fannie Mae Pool #AY1829 3.50% 12/1/2044 <sup>(a)</sup>  | 2 | 2 |
| Fannie Mae Pool #MA5696 7.00% 3/1/2045 <sup>(a)</sup>  | 37 | 39 |
| Fannie Mae Pool #FS3767 2.00% 4/1/2047 <sup>(a)</sup>  | 26 | 21 |
| Fannie Mae Pool #BH3122 4.00% 6/1/2047 <sup>(a)</sup>  | 1 | 1 |
| Fannie Mae Pool #BJ5015 4.00% 12/1/2047 <sup>(a)</sup>  | 26 | 25 |
| Fannie Mae Pool #BK5232 4.00% 5/1/2048 <sup>(a)</sup>  | 15 | 15 |
| Fannie Mae Pool #BK6840 4.00% 6/1/2048 <sup>(a)</sup>  | 22 | 21 |
| Fannie Mae Pool #BK9743 4.00% 8/1/2048 <sup>(a)</sup>  | 6 | 6 |
| Fannie Mae Pool #BK9761 4.50% 8/1/2048 <sup>(a)</sup>  | 3 | 3 |
| Fannie Mae Pool #CA6409 2.50% 7/1/2050 <sup>(a)</sup>  | 91 | 76 |
| Fannie Mae Pool #FS3745 2.00% 8/1/2050 <sup>(a)</sup>  | 17 | 14 |
| Fannie Mae Pool #CA7052 3.00% 9/1/2050 <sup>(a)</sup>  | 4 | 4 |
| Fannie Mae Pool #BN7466 2.00% 10/1/2050 <sup>(a)</sup>  | 100 | 80 |
| Fannie Mae Pool #BQ3005 2.50% 10/1/2050 <sup>(a)</sup>  | 63 | 53 |
| Fannie Mae Pool #BQ6356 2.00% 11/1/2050 <sup>(a)</sup>  | 35 | 28 |
| Fannie Mae Pool #CA8108 2.00% 12/1/2050 <sup>(a)</sup>  | 129 | 104 |
| Fannie Mae Pool #MA4208 2.00% 12/1/2050 <sup>(a)</sup>  | 11 | 9 |
| Fannie Mae Pool #FS9792 4.50% 12/1/2050 <sup>(a)</sup>  | 23 | 22 |
| Fannie Mae Pool #FM6113 2.50% 1/1/2051 <sup>(a)</sup>  | 1394 | 1165 |
| Fannie Mae Pool #FM5940 2.00% 2/1/2051 <sup>(a)(c)</sup>  | 1485 | 1195 |
| Fannie Mae Pool #CA8820 2.00% 2/1/2051 <sup>(a)</sup>  | 343 | 275 |
| Fannie Mae Pool #FM6332 2.00% 2/1/2051 <sup>(a)</sup>  | 166 | 132 |
| Fannie Mae Pool #MA4305 2.00% 4/1/2051 <sup>(a)</sup>  | 1 | 1 |
| Fannie Mae Pool #CB0041 3.00% 4/1/2051 <sup>(a)</sup>  | 174 | 155 |
| Fannie Mae Pool #FM7900 2.50% 7/1/2051 <sup>(a)</sup>  | 22 | 19 |
| Fannie Mae Pool #FM8038 3.00% 7/1/2051 <sup>(a)</sup>  | 31 | 27 |
| Fannie Mae Pool #CB1527 2.50% 9/1/2051 <sup>(a)</sup>  | 371 | 311 |
| Fannie Mae Pool #FS1630 2.50% 9/1/2051 <sup>(a)</sup>  | 23 | 19 |
| Fannie Mae Pool #FS0965 2.00% 11/1/2051 <sup>(a)</sup>  | 2 | 2 |
| Fannie Mae Pool #FM9492 2.50% 11/1/2051 <sup>(a)</sup>  | 386 | 326 |
| Fannie Mae Pool #FM9694 2.50% 11/1/2051 <sup>(a)</sup>  | 181 | 153 |
| Fannie Mae Pool #CB2095 3.00% 11/1/2051 <sup>(a)</sup>  | 32 | 28 |
| Fannie Mae Pool #FM9804 2.50% 12/1/2051 <sup>(a)</sup>  | 199 | 168 |
| Fannie Mae Pool #FM9976 3.00% 12/1/2051 <sup>(a)</sup>  | 79 | 70 |
| Fannie Mae Pool #CB2544 3.00% 1/1/2052 <sup>(a)</sup>  | 232 | 203 |
| Fannie Mae Pool #CB3031 2.50% 3/1/2052 <sup>(a)</sup>  | 383 | 319 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **238** |

---

------

American Funds Mortgage Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** |  |  |
| Fannie Mae Pool #BV9613 3.00% 4/1/2052 <sup>(a)</sup>  | USD41 | $36 |
| Fannie Mae Pool #CB3523 3.00% 5/1/2052 <sup>(a)</sup>  | 916 | 795 |
| Fannie Mae Pool #MA4626 4.00% 6/1/2052 <sup>(a)</sup>  | 284 | 265 |
| Fannie Mae Pool #FS5851 4.00% 7/1/2052 <sup>(a)</sup>  | 951 | 887 |
| Fannie Mae Pool #FS6362 3.50% 8/1/2052 <sup>(a)</sup>  | 163 | 147 |
| Fannie Mae Pool #CB4620 5.00% 9/1/2052 <sup>(a)</sup>  | 978 | 967 |
| Fannie Mae Pool #FS3056 2.00% 10/1/2052 <sup>(a)</sup>  | 690 | 547 |
| Fannie Mae Pool #MA4785 5.00% 10/1/2052 <sup>(a)</sup>  | 98 | 96 |
| Fannie Mae Pool #BW1289 5.50% 10/1/2052 <sup>(a)</sup>  | 35 | 35 |
| Fannie Mae Pool #BW1243 5.50% 10/1/2052 <sup>(a)</sup>  | 32 | 32 |
| Fannie Mae Pool #MA4805 4.50% 11/1/2052 <sup>(a)</sup>  | 149 | 143 |
| Fannie Mae Pool #MA4840 4.50% 12/1/2052 <sup>(a)</sup>  | 427 | 410 |
| Fannie Mae Pool #BX5673 5.00% 12/1/2052 <sup>(a)</sup>  | 97 | 95 |
| Fannie Mae Pool #BY1411 4.00% 2/1/2053 <sup>(a)</sup>  | 1113 | 1036 |
| Fannie Mae Pool #MA4916 4.00% 2/1/2053 <sup>(a)</sup>  | 9 | 8 |
| Fannie Mae Pool #MA4919 5.50% 2/1/2053 <sup>(a)</sup>  | 64 | 64 |
| Fannie Mae Pool #FS3759 6.00% 2/1/2053 <sup>(a)</sup>  | 94 | 97 |
| Fannie Mae Pool #CB5912 6.00% 3/1/2053 <sup>(a)</sup>  | 77 | 79 |
| Fannie Mae Pool #BY2249 4.00% 4/1/2053 <sup>(a)</sup>  | 26 | 25 |
| Fannie Mae Pool #MA4978 5.00% 4/1/2053 <sup>(a)</sup>  | 1935 | 1903 |
| Fannie Mae Pool #CB6131 6.50% 4/1/2053 <sup>(a)</sup>  | 216 | 226 |
| Fannie Mae Pool #CB6106 6.50% 4/1/2053 <sup>(a)</sup>  | 60 | 63 |
| Fannie Mae Pool #MA5008 4.50% 5/1/2053 <sup>(a)</sup>  | 42 | 40 |
| Fannie Mae Pool #MA5009 5.00% 5/1/2053 <sup>(a)</sup>  | 1710 | 1682 |
| Fannie Mae Pool #FS4563 5.00% 5/1/2053 <sup>(a)</sup>  | 49 | 48 |
| Fannie Mae Pool #MA5010 5.50% 5/1/2053 <sup>(a)</sup>  | 49 | 49 |
| Fannie Mae Pool #MA5011 6.00% 5/1/2053 <sup>(a)</sup>  | 256 | 261 |
| Fannie Mae Pool #MA5038 5.00% 6/1/2053 <sup>(a)</sup>  | 259 | 255 |
| Fannie Mae Pool #FS5192 5.50% 6/1/2053 <sup>(a)</sup>  | 736 | 737 |
| Fannie Mae Pool #MA5040 6.00% 6/1/2053 <sup>(a)</sup>  | 344 | 350 |
| Fannie Mae Pool #MA5070 4.50% 7/1/2053 <sup>(a)</sup>  | 138 | 132 |
| Fannie Mae Pool #MA5072 5.50% 7/1/2053 <sup>(a)</sup>  | 200 | 200 |
| Fannie Mae Pool #FS5343 6.00% 7/1/2053 <sup>(a)</sup>  | 415 | 423 |
| Fannie Mae Pool #CB6853 4.50% 8/1/2053 <sup>(a)</sup>  | 88 | 85 |
| Fannie Mae Pool #MA5136 4.50% 9/1/2053 <sup>(a)</sup>  | 254 | 244 |
| Fannie Mae Pool #MA5138 5.50% 9/1/2053 <sup>(a)</sup>  | 279 | 280 |
| Fannie Mae Pool #MA5165 5.50% 10/1/2053 <sup>(a)</sup>  | 841 | 842 |
| Fannie Mae Pool #CB7242 6.50% 10/1/2053 <sup>(a)</sup>  | 41 | 42 |
| Fannie Mae Pool #MA5167 6.50% 10/1/2053 <sup>(a)</sup>  | 13 | 13 |
| Fannie Mae Pool #CB7510 6.50% 11/1/2053 <sup>(a)</sup>  | 298 | 311 |
| Fannie Mae Pool #MA5215 5.50% 12/1/2053 <sup>(a)</sup>  | 78 | 78 |
| Fannie Mae Pool #FS6873 6.50% 1/1/2054 <sup>(a)</sup>  | 447 | 463 |
| Fannie Mae Pool #FS6767 6.50% 1/1/2054 <sup>(a)</sup>  | 214 | 222 |
| Fannie Mae Pool #FS9507 4.50% 2/1/2054 <sup>(a)</sup>  | 206 | 197 |
| Fannie Mae Pool #MA5271 5.50% 2/1/2054 <sup>(a)</sup>  | 1472 | 1473 |
| Fannie Mae Pool #FS6809 5.50% 2/1/2054 <sup>(a)</sup>  | 149 | 149 |
| Fannie Mae Pool #MA5296 5.50% 3/1/2054 <sup>(a)</sup>  | 139 | 139 |
| Fannie Mae Pool #FS7653 6.50% 3/1/2054 <sup>(a)</sup>  | 38 | 40 |
| Fannie Mae Pool #DB1235 6.00% 4/1/2054 <sup>(a)</sup>  | 129 | 132 |
| Fannie Mae Pool #CB8387 6.50% 4/1/2054 <sup>(a)</sup>  | 17 | 18 |
| Fannie Mae Pool #DB6878 6.00% 6/1/2054 <sup>(a)</sup>  | 271 | 275 |
| Fannie Mae Pool #FS8153 6.00% 6/1/2054 <sup>(a)</sup>  | 239 | 245 |
| Fannie Mae Pool #FS8223 6.00% 6/1/2054 <sup>(a)</sup>  | 44 | 45 |
| Fannie Mae Pool #FS8219 6.00% 6/1/2054 <sup>(a)</sup>  | 37 | 38 |
| Fannie Mae Pool #CB8755 6.00% 6/1/2054 <sup>(a)</sup>  | 21 | 22 |
| Fannie Mae Pool #CB8725 6.50% 6/1/2054 <sup>(a)</sup>  | 279 | 290 |
| Fannie Mae Pool #BU4700 6.00% 7/1/2054 <sup>(a)</sup>  | 554 | 565 |
| Fannie Mae Pool #DB6901 6.00% 7/1/2054 <sup>(a)</sup>  | 169 | 172 |
| Fannie Mae Pool #CB8858 6.00% 7/1/2054 <sup>(a)</sup>  | 131 | 134 |
| Fannie Mae Pool #BU4707 6.00% 7/1/2054 <sup>(a)</sup>  | 115 | 117 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **239** | American Funds Insurance Series |

---

------

American Funds Mortgage Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** |  |  |
| Fannie Mae Pool #FS8318 6.00% 7/1/2054 <sup>(a)</sup>  | USD60 | $61 |
| Fannie Mae Pool #DB7039 6.00% 7/1/2054 <sup>(a)</sup>  | 39 | 40 |
| Fannie Mae Pool #MA5421 6.00% 7/1/2054 <sup>(a)</sup>  | 8 | 8 |
| Fannie Mae Pool #FS8619 6.50% 7/1/2054 <sup>(a)</sup>  | 696 | 725 |
| Fannie Mae Pool #CB8872 6.50% 7/1/2054 <sup>(a)</sup>  | 435 | 453 |
| Fannie Mae Pool #MA5422 6.50% 7/1/2054 <sup>(a)</sup>  | 304 | 315 |
| Fannie Mae Pool #CB8876 6.50% 7/1/2054 <sup>(a)</sup>  | 131 | 136 |
| Fannie Mae Pool #FS8607 6.50% 7/1/2054 <sup>(a)</sup>  | 127 | 133 |
| Fannie Mae Pool #FS8317 6.50% 7/1/2054 <sup>(a)</sup>  | 78 | 82 |
| Fannie Mae Pool #FS9819 7.00% 7/1/2054 <sup>(a)</sup>  | 479 | 506 |
| Fannie Mae Pool #MA5445 6.00% 8/1/2054 <sup>(a)</sup>  | 226 | 230 |
| Fannie Mae Pool #FS8758 6.00% 8/1/2054 <sup>(a)</sup>  | 192 | 196 |
| Fannie Mae Pool #BU4968 6.00% 8/1/2054 <sup>(a)</sup>  | 140 | 142 |
| Fannie Mae Pool #DB7792 6.00% 8/1/2054 <sup>(a)</sup>  | 75 | 76 |
| Fannie Mae Pool #FS8757 6.00% 8/1/2054 <sup>(a)</sup>  | 55 | 56 |
| Fannie Mae Pool #FS8756 6.00% 8/1/2054 <sup>(a)</sup>  | 29 | 29 |
| Fannie Mae Pool #BU4916 6.00% 8/1/2054 <sup>(a)</sup>  | 29 | 29 |
| Fannie Mae Pool #FS8795 6.00% 8/1/2054 <sup>(a)</sup>  | 25 | 26 |
| Fannie Mae Pool #DB7687 6.00% 8/1/2054 <sup>(a)</sup>  | 19 | 19 |
| Fannie Mae Pool #DB7690 6.00% 8/1/2054 <sup>(a)</sup>  | 19 | 19 |
| Fannie Mae Pool #DC0296 6.00% 8/1/2054 <sup>(a)</sup>  | 9 | 10 |
| Fannie Mae Pool #CB9071 6.50% 8/1/2054 <sup>(a)</sup>  | 160 | 167 |
| Fannie Mae Pool #FS9025 5.50% 9/1/2054 <sup>(a)</sup>  | 507 | 509 |
| Fannie Mae Pool #FS9009 5.50% 9/1/2054 <sup>(a)</sup>  | 274 | 276 |
| Fannie Mae Pool #MA5470 5.50% 9/1/2054 <sup>(a)</sup>  | 214 | 214 |
| Fannie Mae Pool #FS8866 6.00% 9/1/2054 <sup>(a)</sup>  | 462 | 472 |
| Fannie Mae Pool #DC3477 6.50% 9/1/2054 <sup>(a)</sup>  | 236 | 244 |
| Fannie Mae Pool #MA5497 5.50% 10/1/2054 <sup>(a)</sup>  | 109 | 109 |
| Fannie Mae Pool #MA5498 6.00% 10/1/2054 <sup>(a)</sup>  | 409 | 416 |
| Fannie Mae Pool #BU5166 6.00% 10/1/2054 <sup>(a)</sup>  | 26 | 26 |
| Fannie Mae Pool #MA5530 5.00% 11/1/2054 <sup>(a)</sup>  | 326 | 319 |
| Fannie Mae Pool #MA5531 5.50% 11/1/2054 <sup>(a)</sup>  | 58 | 58 |
| Fannie Mae Pool #BU5165 5.50% 11/1/2054 <sup>(a)</sup>  | 50 | 50 |
| Fannie Mae Pool #CB9432 6.00% 11/1/2054 <sup>(a)</sup>  | 43 | 43 |
| Fannie Mae Pool #DC7042 4.50% 12/1/2054 <sup>(a)</sup>  | 186 | 179 |
| Fannie Mae Pool #MA5552 5.00% 12/1/2054 <sup>(a)</sup>  | 431 | 423 |
| Fannie Mae Pool #FA0287 6.00% 12/1/2054 <sup>(a)</sup>  | 552 | 561 |
| Fannie Mae Pool #DC7035 6.00% 12/1/2054 <sup>(a)</sup>  | 43 | 43 |
| Fannie Mae Pool #MA5583 4.00% 1/1/2055 <sup>(a)</sup>  | 144 | 134 |
| Fannie Mae Pool #MA5587 6.00% 1/1/2055 <sup>(a)</sup>  | 231 | 235 |
| Fannie Mae Pool #DD0835 6.00% 1/1/2055 <sup>(a)</sup>  | 40 | 40 |
| Fannie Mae Pool #FA0608 5.50% 2/1/2055 <sup>(a)</sup>  | 580 | 580 |
| Fannie Mae Pool #MA5615 6.00% 2/1/2055 <sup>(a)</sup>  | 442 | 450 |
| Fannie Mae Pool #MA5631 6.50% 2/1/2055 <sup>(a)</sup>  | 99 | 102 |
| Fannie Mae Pool #MA5647 6.00% 3/1/2055 <sup>(a)</sup>  | 89 | 91 |
| Fannie Mae Pool #MA5670 4.00% 4/1/2055 <sup>(a)</sup>  | 485 | 451 |
| Fannie Mae Pool #MA5674 6.00% 4/1/2055 <sup>(a)</sup>  | 285 | 290 |
| Fannie Mae Pool #FA1163 6.50% 4/1/2055 <sup>(a)</sup>  | 2075 | 2145 |
| Fannie Mae Pool #MA5699 5.00% 5/1/2055 <sup>(a)</sup>  | 298 | 292 |
| Fannie Mae Pool #MA5701 6.00% 5/1/2055 <sup>(a)</sup>  | 409 | 416 |
| Fannie Mae Pool #MA5734 5.00% 6/1/2055 <sup>(a)</sup>  | 153 | 150 |
| Fannie Mae Pool #MA5735 5.50% 6/1/2055 <sup>(a)</sup>  | 183 | 183 |
| Fannie Mae Pool #MA5762 6.50% 7/1/2055 <sup>(a)</sup>  | 27 | 28 |
| Fannie Mae Pool #BF0379 3.50% 4/1/2059 <sup>(a)</sup>  | 115 | 103 |
| Fannie Mae Pool #BF0481 3.50% 6/1/2060 <sup>(a)</sup>  | 124 | 111 |
| Fannie Mae Pool #BF0497 3.00% 7/1/2060 <sup>(a)</sup>  | 43 | 37 |
| Fannie Mae Pool #BF0585 4.50% 12/1/2061 <sup>(a)</sup>  | 42 | 40 |
| Fannie Mae Pool #BF0765 3.50% 9/1/2063 <sup>(a)</sup>  | 719 | 637 |
| FARM Mortgage Trust, Series 2024-1, Class A, 4.702% 10/1/2053 <sup>(a)(d)(e)</sup>  | 184 | 179 |
| Freddie Mac Pool #ZA1922 5.00% 2/1/2026 <sup>(a)(c)</sup>  | — <br><sup>(b)</sup><br>| — <br><sup>(b)</sup><br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **240** |

---

------

American Funds Mortgage Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** |  |  |
| Freddie Mac Pool #ZS8950 5.00% 10/1/2029 <sup>(a)</sup>  | USD1 | $1 |
| Freddie Mac Pool #A18781 5.00% 3/1/2034 <sup>(a)</sup>  | 459 | 461 |
| Freddie Mac Pool #SB0649 2.50% 4/1/2037 <sup>(a)</sup>  | 143 | 133 |
| Freddie Mac Pool #SB1388 2.50% 1/1/2038 <sup>(a)</sup>  | 41 | 38 |
| Freddie Mac Pool #RB5113 1.50% 6/1/2041 <sup>(a)</sup>  | 1460 | 1210 |
| Freddie Mac Pool #RB5115 2.50% 6/1/2041 <sup>(a)</sup>  | 275 | 246 |
| Freddie Mac Pool #RB5145 2.00% 2/1/2042 <sup>(a)</sup>  | 77 | 66 |
| Freddie Mac Pool #Q15874 4.00% 2/1/2043 <sup>(a)</sup>  | 1 | 1 |
| Freddie Mac Pool #760014 3.889% 8/1/2045 <sup>(a)(e)</sup>  | 248 | 247 |
| Freddie Mac Pool #Q47615 3.50% 4/1/2047 <sup>(a)</sup>  | 15 | 14 |
| Freddie Mac Pool #Q52069 3.50% 11/1/2047 <sup>(a)</sup>  | 22 | 20 |
| Freddie Mac Pool #Q55971 4.00% 5/1/2048 <sup>(a)</sup>  | 15 | 14 |
| Freddie Mac Pool #Q56175 4.00% 5/1/2048 <sup>(a)</sup>  | 12 | 11 |
| Freddie Mac Pool #Q55970 4.00% 5/1/2048 <sup>(a)</sup>  | 7 | 7 |
| Freddie Mac Pool #Q56599 4.00% 6/1/2048 <sup>(a)</sup>  | 23 | 22 |
| Freddie Mac Pool #Q58411 4.50% 9/1/2048 <sup>(a)</sup>  | 41 | 40 |
| Freddie Mac Pool #Q58436 4.50% 9/1/2048 <sup>(a)</sup>  | 19 | 19 |
| Freddie Mac Pool #Q58378 4.50% 9/1/2048 <sup>(a)</sup>  | 14 | 13 |
| Freddie Mac Pool #Z40273 4.50% 10/1/2048 <sup>(a)</sup>  | 36 | 35 |
| Freddie Mac Pool #QA2748 3.50% 9/1/2049 <sup>(a)</sup>  | 14 | 13 |
| Freddie Mac Pool #SD7512 3.00% 2/1/2050 <sup>(a)</sup>  | 129 | 114 |
| Freddie Mac Pool #RA3384 3.00% 8/1/2050 <sup>(a)</sup>  | 4 | 4 |
| Freddie Mac Pool #RA3576 2.00% 9/1/2050 <sup>(a)</sup>  | 681 | 540 |
| Freddie Mac Pool #SI2062 2.00% 9/1/2050 <sup>(a)</sup>  | 170 | 136 |
| Freddie Mac Pool #RA3987 2.50% 11/1/2050 <sup>(a)</sup>  | 179 | 150 |
| Freddie Mac Pool #RA4352 2.00% 1/1/2051 <sup>(a)</sup>  | 299 | 240 |
| Freddie Mac Pool #SD8128 2.00% 2/1/2051 <sup>(a)</sup>  | 2 | 1 |
| Freddie Mac Pool #SD8134 2.00% 3/1/2051 <sup>(a)</sup>  | 3 | 2 |
| Freddie Mac Pool #RA5288 2.00% 5/1/2051 <sup>(a)</sup>  | 278 | 224 |
| Freddie Mac Pool #QC7626 3.00% 9/1/2051 <sup>(a)</sup>  | 206 | 180 |
| Freddie Mac Pool #RA6406 2.00% 11/1/2051 <sup>(a)</sup>  | 67 | 54 |
| Freddie Mac Pool #SD1385 2.50% 11/1/2051 <sup>(a)</sup>  | 56 | 47 |
| Freddie Mac Pool #RA6598 3.50% 1/1/2052 <sup>(a)</sup>  | 143 | 130 |
| Freddie Mac Pool #SD0873 3.50% 2/1/2052 <sup>(a)(c)</sup>  | 940 | 862 |
| Freddie Mac Pool #QD7089 3.50% 2/1/2052 <sup>(a)</sup>  | 6 | 6 |
| Freddie Mac Pool #RA6973 2.00% 3/1/2052 <sup>(a)</sup>  | 687 | 545 |
| Freddie Mac Pool #SD8213 3.00% 5/1/2052 <sup>(a)</sup>  | 1360 | 1180 |
| Freddie Mac Pool #QE4001 3.00% 5/1/2052 <sup>(a)</sup>  | 42 | 37 |
| Freddie Mac Pool #SD8220 3.00% 6/1/2052 <sup>(a)</sup>  | 665 | 576 |
| Freddie Mac Pool #SD8225 3.00% 7/1/2052 <sup>(a)</sup>  | 1254 | 1088 |
| Freddie Mac Pool #SD1406 2.00% 8/1/2052 <sup>(a)</sup>  | 124 | 98 |
| Freddie Mac Pool #SD8242 3.00% 9/1/2052 <sup>(a)</sup>  | 111 | 96 |
| Freddie Mac Pool #SL0761 3.50% 9/1/2052 <sup>(a)</sup>  | 870 | 787 |
| Freddie Mac Pool #QF0213 4.50% 9/1/2052 <sup>(a)</sup>  | 1057 | 1014 |
| Freddie Mac Pool #RA7938 5.00% 9/1/2052 <sup>(a)</sup>  | 569 | 560 |
| Freddie Mac Pool #QF0924 5.50% 9/1/2052 <sup>(a)</sup>  | 216 | 216 |
| Freddie Mac Pool #SD8258 5.00% 10/1/2052 <sup>(a)</sup>  | 226 | 223 |
| Freddie Mac Pool #RA8059 5.50% 10/1/2052 <sup>(a)</sup>  | 97 | 98 |
| Freddie Mac Pool #SD1895 4.50% 11/1/2052 <sup>(a)</sup>  | 320 | 313 |
| Freddie Mac Pool #SD8280 6.50% 11/1/2052 <sup>(a)</sup>  | 695 | 723 |
| Freddie Mac Pool #SD2602 3.00% 12/1/2052 <sup>(a)</sup>  | 30 | 26 |
| Freddie Mac Pool #SD8287 4.50% 1/1/2053 <sup>(a)</sup>  | 57 | 54 |
| Freddie Mac Pool #SD8288 5.00% 1/1/2053 <sup>(a)</sup>  | 39 | 39 |
| Freddie Mac Pool #SD8315 5.00% 4/1/2053 <sup>(a)</sup>  | 111 | 110 |
| Freddie Mac Pool #SD2716 5.00% 4/1/2053 <sup>(a)</sup>  | 77 | 76 |
| Freddie Mac Pool #SD8316 5.50% 4/1/2053 <sup>(a)</sup>  | 86 | 86 |
| Freddie Mac Pool #SD8322 4.50% 5/1/2053 <sup>(a)</sup>  | 124 | 119 |
| Freddie Mac Pool #SD8323 5.00% 5/1/2053 <sup>(a)</sup>  | 1080 | 1061 |
| Freddie Mac Pool #SD2861 6.00% 5/1/2053 <sup>(a)</sup>  | 50 | 51 |
| Freddie Mac Pool #SD8331 5.50% 6/1/2053 <sup>(a)</sup>  | 275 | 276 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **241** | American Funds Insurance Series |

---

------

American Funds Mortgage Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** |  |  |
| Freddie Mac Pool #RA9279 6.00% 6/1/2053 <sup>(a)</sup>  | USD57 | $59 |
| Freddie Mac Pool #RA9283 6.00% 6/1/2053 <sup>(a)</sup>  | 50 | 51 |
| Freddie Mac Pool #RA9281 6.00% 6/1/2053 <sup>(a)</sup>  | 35 | 36 |
| Freddie Mac Pool #RA9284 6.00% 6/1/2053 <sup>(a)</sup>  | 28 | 28 |
| Freddie Mac Pool #SD8341 5.00% 7/1/2053 <sup>(a)</sup>  | 2 | 2 |
| Freddie Mac Pool #SD8342 5.50% 7/1/2053 <sup>(a)</sup>  | 802 | 804 |
| Freddie Mac Pool #SD3386 5.50% 7/1/2053 <sup>(a)</sup>  | 50 | 50 |
| Freddie Mac Pool #SD3432 6.00% 7/1/2053 <sup>(a)</sup>  | 34 | 35 |
| Freddie Mac Pool #SD8350 6.00% 8/1/2053 <sup>(a)(c)</sup>  | 2560 | 2607 |
| Freddie Mac Pool #RA9857 6.00% 9/1/2053 <sup>(a)</sup>  | 926 | 943 |
| Freddie Mac Pool #RA9854 6.00% 9/1/2053 <sup>(a)</sup>  | 112 | 115 |
| Freddie Mac Pool #SD8368 6.00% 10/1/2053 <sup>(a)</sup>  | 422 | 429 |
| Freddie Mac Pool #SD4053 6.00% 10/1/2053 <sup>(a)</sup>  | 316 | 322 |
| Freddie Mac Pool #SD8371 5.00% 11/1/2053 <sup>(a)</sup>  | 1009 | 991 |
| Freddie Mac Pool #SD4977 5.00% 11/1/2053 <sup>(a)</sup>  | 242 | 238 |
| Freddie Mac Pool #RJ0326 6.50% 11/1/2053 <sup>(a)</sup>  | 70 | 73 |
| Freddie Mac Pool #SD8395 5.50% 1/1/2054 <sup>(a)</sup>  | 431 | 432 |
| Freddie Mac Pool #RJ0668 6.00% 1/1/2054 <sup>(a)</sup>  | 1626 | 1659 |
| Freddie Mac Pool #SD4795 6.00% 1/1/2054 <sup>(a)</sup>  | 1283 | 1309 |
| Freddie Mac Pool #SD4693 6.50% 1/1/2054 <sup>(a)</sup>  | 51 | 53 |
| Freddie Mac Pool #RJ0854 6.50% 1/1/2054 <sup>(a)</sup>  | 10 | 11 |
| Freddie Mac Pool #QI0006 6.00% 2/1/2054 <sup>(a)</sup>  | 50 | 51 |
| Freddie Mac Pool #RJ1216 5.50% 4/1/2054 <sup>(a)</sup>  | 64 | 64 |
| Freddie Mac Pool #RJ1215 5.50% 4/1/2054 <sup>(a)</sup>  | 13 | 13 |
| Freddie Mac Pool #QI2895 6.00% 4/1/2054 <sup>(a)</sup>  | 101 | 103 |
| Freddie Mac Pool #QI3333 6.00% 4/1/2054 <sup>(a)</sup>  | 19 | 19 |
| Freddie Mac Pool #SD5221 6.50% 4/1/2054 <sup>(a)</sup>  | 55 | 58 |
| Freddie Mac Pool #RJ1448 5.50% 5/1/2054 <sup>(a)</sup>  | 62 | 62 |
| Freddie Mac Pool #SD5692 6.00% 5/1/2054 <sup>(a)</sup>  | 25 | 26 |
| Freddie Mac Pool #SD8432 6.00% 5/1/2054 <sup>(a)</sup>  | 8 | 8 |
| Freddie Mac Pool #SD5404 6.50% 5/1/2054 <sup>(a)</sup>  | 436 | 454 |
| Freddie Mac Pool #RJ1447 6.50% 5/1/2054 <sup>(a)</sup>  | 64 | 67 |
| Freddie Mac Pool #SD5706 6.50% 6/1/2054 <sup>(a)</sup>  | 664 | 692 |
| Freddie Mac Pool #RJ1726 6.50% 6/1/2054 <sup>(a)</sup>  | 216 | 225 |
| Freddie Mac Pool #SD5701 6.50% 6/1/2054 <sup>(a)</sup>  | 49 | 51 |
| Freddie Mac Pool #RJ1725 6.50% 6/1/2054 <sup>(a)</sup>  | 16 | 17 |
| Freddie Mac Pool #QI8874 6.00% 7/1/2054 <sup>(a)</sup>  | 230 | 234 |
| Freddie Mac Pool #RJ1975 6.00% 7/1/2054 <sup>(a)</sup>  | 200 | 204 |
| Freddie Mac Pool #RJ1964 6.00% 7/1/2054 <sup>(a)</sup>  | 180 | 185 |
| Freddie Mac Pool #SD8447 6.00% 7/1/2054 <sup>(a)</sup>  | 72 | 74 |
| Freddie Mac Pool #SD5813 6.00% 7/1/2054 <sup>(a)</sup>  | 64 | 65 |
| Freddie Mac Pool #SD5896 6.00% 7/1/2054 <sup>(a)</sup>  | 32 | 33 |
| Freddie Mac Pool #RJ1986 6.50% 7/1/2054 <sup>(a)</sup>  | 198 | 205 |
| Freddie Mac Pool #QI9547 6.50% 7/1/2054 <sup>(a)</sup>  | 96 | 99 |
| Freddie Mac Pool #SD5905 6.50% 7/1/2054 <sup>(a)</sup>  | 72 | 75 |
| Freddie Mac Pool #SD6286 5.50% 8/1/2054 <sup>(a)</sup>  | 290 | 292 |
| Freddie Mac Pool #RJ2210 6.00% 8/1/2054 <sup>(a)</sup>  | 253 | 258 |
| Freddie Mac Pool #SD8454 6.00% 8/1/2054 <sup>(a)</sup>  | 172 | 175 |
| Freddie Mac Pool #RJ2216 6.00% 8/1/2054 <sup>(a)</sup>  | 141 | 144 |
| Freddie Mac Pool #SD6029 6.00% 8/1/2054 <sup>(a)</sup>  | 38 | 38 |
| Freddie Mac Pool #SD6323 6.50% 8/1/2054 <sup>(a)</sup>  | 1610 | 1668 |
| Freddie Mac Pool #RJ2222 6.50% 8/1/2054 <sup>(a)</sup>  | 245 | 255 |
| Freddie Mac Pool #SD6034 6.50% 8/1/2054 <sup>(a)</sup>  | 114 | 119 |
| Freddie Mac Pool #RJ2247 6.50% 8/1/2054 <sup>(a)</sup>  | 99 | 103 |
| Freddie Mac Pool #RJ2228 6.50% 8/1/2054 <sup>(a)</sup>  | 61 | 63 |
| Freddie Mac Pool #SD6047 6.50% 8/1/2054 <sup>(a)</sup>  | 43 | 44 |
| Freddie Mac Pool #SD6035 6.50% 8/1/2054 <sup>(a)</sup>  | 28 | 29 |
| Freddie Mac Pool #SD8462 5.50% 9/1/2054 <sup>(a)</sup>  | 212 | 212 |
| Freddie Mac Pool #RJ2314 6.00% 9/1/2054 <sup>(a)</sup>  | 124 | 126 |
| Freddie Mac Pool #RJ2312 6.00% 9/1/2054 <sup>(a)</sup>  | 66 | 67 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **242** |

---

------

American Funds Mortgage Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** |  |  |
| Freddie Mac Pool #RJ2308 6.00% 9/1/2054 <sup>(a)</sup>  | USD64 | $66 |
| Freddie Mac Pool #RJ2306 6.00% 9/1/2054 <sup>(a)</sup>  | 57 | 59 |
| Freddie Mac Pool #RJ2309 6.00% 9/1/2054 <sup>(a)</sup>  | 36 | 36 |
| Freddie Mac Pool #SD8463 6.00% 9/1/2054 <sup>(a)</sup>  | 17 | 17 |
| Freddie Mac Pool #RJ2320 6.50% 9/1/2054 <sup>(a)</sup>  | 36 | 37 |
| Freddie Mac Pool #RJ2325 6.50% 9/1/2054 <sup>(a)</sup>  | 20 | 21 |
| Freddie Mac Pool #SD8469 5.50% 10/1/2054 <sup>(a)</sup>  | 9 | 9 |
| Freddie Mac Pool #SD8471 6.50% 10/1/2054 <sup>(a)</sup>  | 164 | 169 |
| Freddie Mac Pool #SD8475 5.50% 11/1/2054 <sup>(a)</sup>  | 469 | 469 |
| Freddie Mac Pool #SD8491 5.00% 12/1/2054 <sup>(a)</sup>  | 572 | 561 |
| Freddie Mac Pool #RJ3163 5.00% 12/1/2054 <sup>(a)</sup>  | 521 | 511 |
| Freddie Mac Pool #QX1414 5.50% 12/1/2054 <sup>(a)</sup>  | 377 | 377 |
| Freddie Mac Pool #SD8493 5.50% 12/1/2054 <sup>(a)</sup>  | 8 | 8 |
| Freddie Mac Pool #QX4065 6.00% 1/1/2055 <sup>(a)</sup>  | 27 | 27 |
| Freddie Mac Pool #SD8503 4.00% 2/1/2055 <sup>(a)</sup>  | 509 | 473 |
| Freddie Mac Pool #RJ3264 4.50% 2/1/2055 <sup>(a)</sup>  | 274 | 262 |
| Freddie Mac Pool #SD8507 6.00% 2/1/2055 <sup>(a)</sup>  | 134 | 136 |
| Freddie Mac Pool #SL0797 6.00% 2/1/2055 <sup>(a)</sup>  | 64 | 65 |
| Freddie Mac Pool #SD8516 6.00% 3/1/2055 <sup>(a)</sup>  | 16 | 16 |
| Freddie Mac Pool #SL1094 5.00% 4/1/2055 <sup>(a)</sup>  | 129 | 126 |
| Freddie Mac Pool #SL0796 6.00% 4/1/2055 <sup>(a)</sup>  | 77 | 79 |
| Freddie Mac Pool #SD8525 6.00% 4/1/2055 <sup>(a)</sup>  | 46 | 46 |
| Freddie Mac Pool #SD8532 5.00% 5/1/2055 <sup>(a)</sup>  | 274 | 269 |
| Freddie Mac Pool #SL1138 6.00% 5/1/2055 <sup>(a)</sup>  | 15 | 15 |
| Freddie Mac Pool #SL1137 6.00% 5/1/2055 <sup>(a)</sup>  | 15 | 15 |
| Freddie Mac Pool #SD8534 6.00% 5/1/2055 <sup>(a)</sup>  | 13 | 13 |
| Freddie Mac Pool #RQ0012 5.00% 6/1/2055 <sup>(a)</sup>  | 1199 | 1176 |
| Freddie Mac Pool #RQ0013 5.50% 6/1/2055 <sup>(a)</sup>  | 423 | 423 |
| Freddie Mac Pool #RQ0028 6.00% 7/1/2055 <sup>(a)</sup>  | 941 | 957 |
| Freddie Mac, Series K751, Class A2, Multi Family, 4.412% 3/25/2030 <sup>(a)</sup>  | 300 | 303 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-1, Class HA, 3.00% 1/25/2056 <sup>(a)(e)</sup>  | 79 | 74 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-3, Class HT, 3.25% 7/25/2056 <sup>(a)</sup>  | 79 | 70 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-2, Class MA, 3.00% 8/25/2056 <sup>(a)</sup>  | 152 | 142 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-2, Class HA, 3.00% 8/25/2056 <sup>(a)(e)</sup>  | 106 | 100 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2018-1, Class HT, 3.00% 5/25/2057 <sup>(a)</sup>  | 21 | 18 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2018-3, Class MA, 3.50% 8/25/2057 <sup>(a)</sup>  | 81 | 78 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-2, Class MT, 3.50% 8/26/2058 <sup>(a)</sup>  | 26 | 23 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-3, Class MT, 3.50% 10/25/2058 <sup>(a)</sup>  | 15 | 14 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2024-2, Class MT, 3.50% 5/25/2064 <sup>(a)</sup>  | 630 | 546 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2018-1, Class A1, 3.50% 6/25/2028 <sup>(a)</sup>  | 188 | 183 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2018-2, Class A1, 3.50% 11/25/2028 <sup>(a)</sup>  | 10 | 10 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 20-3, Class AC, 2.00% 11/25/2030 <sup>(a)</sup>  | 289 | 260 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 21-1, Class AC, 2.25% 5/26/2031 <sup>(a)</sup>  | 293 | 268 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 21-2, Class AD, 2.00% 7/25/2031 <sup>(a)</sup>  | 251 | 225 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2022-1, Class A1, 3.50% 5/25/2032 <sup>(a)</sup>  | 252 | 243 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 20-2, Class AC, 2.00% 9/27/2060 <sup>(a)</sup>  | 301 | 272 |
| Government National Mortgage Assn. 4.00% 7/1/2055 <sup>(a)(f)</sup>  | 355 | 330 |
| Government National Mortgage Assn. 5.00% 7/1/2055 <sup>(a)(f)</sup>  | 80 | 79 |
| Government National Mortgage Assn. 5.50% 7/1/2055 <sup>(a)(f)</sup>  | 273 | 273 |
| Government National Mortgage Assn. Pool #AH5894 3.75% 5/20/2034 <sup>(a)</sup>  | 557 | 544 |
| Government National Mortgage Assn. Pool #AD0028 3.75% 7/20/2038 <sup>(a)</sup>  | 232 | 218 |
| Government National Mortgage Assn. Pool #004410 4.00% 4/20/2039 <sup>(a)</sup>  | 47 | 45 |
| Government National Mortgage Assn. Pool #AH5897 3.75% 7/20/2039 <sup>(a)</sup>  | 473 | 446 |
| Government National Mortgage Assn. Pool #783690 6.00% 9/20/2039 <sup>(a)</sup>  | 63 | 66 |
| Government National Mortgage Assn. Pool #004823 4.00% 10/20/2040 <sup>(a)</sup>  | 73 | 69 |
| Government National Mortgage Assn. Pool #005104 5.00% 6/20/2041 <sup>(a)</sup>  | 154 | 154 |
| Government National Mortgage Assn. Pool #005142 4.50% 8/20/2041 <sup>(a)</sup>  | 11 | 10 |
| Government National Mortgage Assn. Pool #005165 6.50% 8/20/2041 <sup>(a)</sup>  | 77 | 78 |
| Government National Mortgage Assn. Pool #AA5326 3.50% 5/20/2042 <sup>(a)</sup>  | 77 | 69 |
| Government National Mortgage Assn. Pool #MA0366 3.50% 6/20/2042 <sup>(a)</sup>  | 180 | 166 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **243** | American Funds Insurance Series |

---

------

American Funds Mortgage Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** |  |  |
| Government National Mortgage Assn. Pool #AD4360 3.50% 7/20/2043 <sup>(a)</sup>  | USD38 | $35 |
| Government National Mortgage Assn. Pool #AH5884 4.25% 7/20/2044 <sup>(a)(c)</sup>  | 775 | 735 |
| Government National Mortgage Assn. Pool #MA6994 2.00% 11/20/2050 <sup>(a)</sup>  | 83 | 68 |
| Government National Mortgage Assn. Pool #BZ3978 2.50% 11/20/2050 <sup>(a)</sup>  | 34 | 29 |
| Government National Mortgage Assn. Pool #MA7051 2.00% 12/20/2050 <sup>(a)</sup>  | 74 | 60 |
| Government National Mortgage Assn. Pool #785575 2.50% 8/20/2051 <sup>(a)</sup>  | 317 | 265 |
| Government National Mortgage Assn. Pool #785659 2.50% 10/20/2051 <sup>(a)</sup>  | 76 | 63 |
| Government National Mortgage Assn. Pool #786706 2.50% 12/20/2051 <sup>(a)</sup>  | 495 | 416 |
| Government National Mortgage Assn. Pool #786502 2.50% 2/20/2052 <sup>(a)</sup>  | 311 | 263 |
| Government National Mortgage Assn. Pool #MA7881 2.50% 2/20/2052 <sup>(a)</sup>  | 67 | 57 |
| Government National Mortgage Assn. Pool #786647 2.50% 3/20/2052 <sup>(a)</sup>  | 162 | 137 |
| Government National Mortgage Assn. Pool #786701 2.50% 3/20/2052 <sup>(a)</sup>  | 133 | 112 |
| Government National Mortgage Assn. Pool #MA7936 2.50% 3/20/2052 <sup>(a)</sup>  | 42 | 36 |
| Government National Mortgage Assn. Pool #MA7937 3.00% 3/20/2052 <sup>(a)</sup>  | 50 | 44 |
| Government National Mortgage Assn. Pool #MA7987 2.50% 4/20/2052 <sup>(a)</sup>  | 218 | 185 |
| Government National Mortgage Assn. Pool #MA7988 3.00% 4/20/2052 <sup>(a)</sup>  | 59 | 52 |
| Government National Mortgage Assn. Pool #MA8266 3.50% 9/20/2052 <sup>(a)</sup>  | 4 | 4 |
| Government National Mortgage Assn. Pool #MA8346 4.00% 10/20/2052 <sup>(a)</sup>  | 153 | 144 |
| Government National Mortgage Assn. Pool #MA9015 4.50% 7/20/2053 <sup>(a)</sup>  | 239 | 230 |
| Government National Mortgage Assn. Pool #MA9016 5.00% 7/20/2053 <sup>(a)</sup>  | 13 | 13 |
| Government National Mortgage Assn. Pool #MA9776 4.00% 7/20/2054 <sup>(a)</sup>  | 79 | 73 |
| Government National Mortgage Assn. Pool #MB0024 4.50% 11/20/2054 <sup>(a)</sup>  | 108 | 104 |
| Government National Mortgage Assn. Pool #AN1825 4.517% 6/20/2065 <sup>(a)</sup>  | 21 | 21 |
| Government National Mortgage Assn. Pool #AO0461 4.559% 8/20/2065 <sup>(a)</sup>  | 6 | 6 |
| Government National Mortgage Assn. Pool #AO0409 4.572% 12/20/2065 <sup>(a)</sup>  | 23 | 23 |
| Government National Mortgage Assn. Pool #AO0385 4.328% 1/20/2066 <sup>(a)</sup>  | 93 | 92 |
| Government National Mortgage Assn. Pool #725897 5.20% 1/20/2066 <sup>(a)</sup>  | 1 | 1 |
| Government National Mortgage Assn., Series 2021-2, Class AH, 1.50% 6/16/2063 <sup>(a)</sup>  | 204 | 149 |
| Uniform Mortgage-Backed Security 4.00% 7/1/2040 <sup>(a)(f)</sup>  | 125 | 122 |
| Uniform Mortgage-Backed Security 2.50% 7/1/2055 <sup>(a)(f)</sup>  | 5044 | 4183 |
| Uniform Mortgage-Backed Security 3.50% 7/1/2055 <sup>(a)(f)</sup>  | 2635 | 2372 |
| Uniform Mortgage-Backed Security 4.00% 7/1/2055 <sup>(a)(f)</sup>  | 326 | 303 |
| Uniform Mortgage-Backed Security 5.00% 7/1/2055 <sup>(a)(f)</sup>  | 25 | 24 |
| Uniform Mortgage-Backed Security 6.00% 7/1/2055 <sup>(a)(f)</sup>  | 4621 | 4700 |
| Uniform Mortgage-Backed Security 7.00% 7/1/2055 <sup>(a)(f)</sup>  | 371 | 391 |
| Uniform Mortgage-Backed Security 2.00% 8/1/2055 <sup>(a)(f)</sup>  | 1180 | 935 |
| Uniform Mortgage-Backed Security 3.00% 8/1/2055 <sup>(a)(f)</sup>  | 1495 | 1293 |
| Uniform Mortgage-Backed Security 4.00% 8/1/2055 <sup>(a)(f)</sup>  | 690 | 641 |
| Uniform Mortgage-Backed Security 6.50% 8/1/2055 <sup>(a)(f)</sup>  | 2892 | 2982 |
|  |  | 104103 |
| **Commercial mortgage-backed securities 0.74%** |  |  |
| BX Trust, Series 2025-GW, Class A, (1-month USD CME Term SOFR + 1.60%) x.xx% 7/15/2042 <sup>(a)(d)(e)</sup>  | 200 | 201 |
| BX Trust, Series 2022-CSMO, Class A, (1-month USD CME Term SOFR + 2.115%) 6.427% 6/15/2027 <sup>(a)(d)(e)</sup>  | 100 | 101 |
| BX Trust, Series 2022-IND, Class A, (1-month USD CME Term SOFR + 1.491%) 5.803% 4/15/2037 <sup>(a)(d)(e)</sup>  | 96 | 96 |
| Citigroup Commercial Mortgage Trust, Series 2023-SMRT, Class A, 6.015% 10/12/2040 <sup>(a)(d)(e)</sup>  | 379 | 391 |
| Extended Stay America Trust, Series 2021-ESH, Class A, (1-month USD CME Term SOFR + 1.194%) 5.506% <br> 7/15/2038 <sup>(a)(d)(e)</sup>  | 86 | 86 |
|  |  | 875 |
| **Collateralized mortgage-backed obligations (privately originated) 0.46%** |  |  |
| CIM Trust, Series 2022-R2, Class A1, 3.75% 12/25/2061 <sup>(a)(d)(e)</sup>  | 136 | 130 |
| COLT Mortgage Loan Trust, Series 2021-5, Class A1, 1.726% 11/26/2066 <sup>(a)(d)(e)</sup>  | 56 | 50 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **244** |

---

------

American Funds Mortgage Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Collateralized mortgage-backed obligations (privately originated) (continued)** |  |  |
| Farmer Mac Agricultural Real Estate Trust, Series 2024-2, Class A1, 5.196% 8/1/2054 <sup>(a)(d)(e)</sup>  | USD86 | $87 |
| Morgan Stanley Residential Mortgage Loan Trust, Series 2024-INV2, Class A1, 6.50% 2/25/2054 <sup>(a)(d)(e)</sup>  | 184 | 187 |
| PMT Loan Trust, Series 2024-INV1, Class A2, 6.00% 10/25/2059 <sup>(a)(d)(e)</sup>  | 94 | 95 |
|  |  | 549 |
| **Total mortgage-backed obligations** |  | 105527 |
| **U.S. Treasury bonds & notes 4.29%** | **U.S. Treasury bonds & notes 4.29%** | **U.S. Treasury bonds & notes 4.29%** |
| **U.S. Treasury 4.29%** |  |  |
| U.S. Treasury 4.375% 7/31/2026  | 535 | 537 |
| U.S. Treasury 3.50% 9/30/2026  | 465 | 463 |
| U.S. Treasury 3.75% 6/30/2027  | 295 | 295 |
| U.S. Treasury 4.25% 2/15/2028  | 460 | 466 |
| U.S. Treasury 3.875% 3/15/2028  | 550 | 553 |
| U.S. Treasury 4.125% 7/31/2028  | 450 | 455 |
| U.S. Treasury 4.50% 5/31/2029  | 1025 | 1053 |
| U.S. Treasury 4.00% 2/28/2030  | 330 | 333 |
| U.S. Treasury 4.00% 3/31/2030  | 100 | 101 |
| U.S. Treasury 1.875% 2/15/2041 <sup>(c)</sup>  | 240 | 165 |
| U.S. Treasury 3.25% 5/15/2042  | 106 | 88 |
| U.S. Treasury 4.75% 2/15/2045  | 190 | 189 |
| U.S. Treasury 1.875% 11/15/2051  | 65 | 36 |
| U.S. Treasury 4.625% 2/15/2055  | 345 | 336 |
| **Total U.S. Treasury bonds & notes** |  | 5070 |
| **Asset-backed obligations 1.36%** | **Asset-backed obligations 1.36%** | **Asset-backed obligations 1.36%** |
| American Credit Acceptance Receivables Trust, Series 2024-3, Class A, 5.76% 11/12/2027 <sup>(a)(d)</sup>  | 12 | 12 |
| American Credit Acceptance Receivables Trust, Series 2024-4, Class A, 4.81% 3/13/2028 <sup>(a)(d)</sup>  | 5 | 5 |
| Bridgecrest Lending Auto Securitization Trust, Series 2024-4, Class A2, 4.84% 9/15/2027 <sup>(a)</sup>  | 6 | 6 |
| CF Hippolyta, LLC, Series 2020-1, Class A1, 1.69% 7/15/2060 <sup>(a)(d)</sup>  | 90 | 89 |
| CPS Auto Receivables Trust, Series 2024-D, Class A, 4.91% 6/15/2028 <sup>(a)(d)</sup>  | 54 | 54 |
| Drive Auto Receivables Trust, Series 2024-2, Class A2, 4.94% 12/15/2027 <sup>(a)</sup>  | 13 | 13 |
| Drive Auto Receivables Trust, Series 2024-2, Class A3, 4.50% 9/15/2028 <sup>(a)</sup>  | 21 | 21 |
| Exeter Automobile Receivables Trust, Series 2024-4A, Class A2, 5.60% 5/17/2027 <sup>(a)</sup>  | 3 | 3 |
| Ford Credit Auto Owner Trust, Series 2023-2, Class A, 5.28% 2/15/2036 <sup>(a)(d)</sup>  | 257 | 265 |
| GLS Auto Receivables Trust, Series 2024-3A, Class A2, 5.35% 8/16/2027 <sup>(a)(d)</sup>  | 17 | 17 |
| GLS Auto Receivables Trust, Series 2024-4A, Class A2, 4.76% 10/15/2027 <sup>(a)(d)</sup>  | 12 | 12 |
| GLS Auto Receivables Trust, Series 2024-3A, Class A3, 5.02% 4/17/2028 <sup>(a)(d)</sup>  | 45 | 45 |
| Navient Student Loan Trust, Series 2021-A, Class A, 0.84% 5/15/2069 <sup>(a)(d)</sup>  | 66 | 60 |
| Navient Student Loan Trust, Series 2021-CA, Class A, 1.06% 10/15/2069 <sup>(a)(d)</sup>  | 85 | 77 |
| Nelnet Student Loan Trust, Series 2021-A, Class APT1, 1.36% 4/20/2062 <sup>(a)(d)</sup>  | 101 | 96 |
| Nelnet Student Loan Trust, Series 2021-CA, Class AFL, (1-month USD CME Term SOFR + 0.854%) 5.172% <br>4/20/2062 <sup>(a)(d)(e)</sup>  | 84 | 83 |
| New Economy Assets Phase 1 Issuer, LLC, Series 2021-1, Class A1, 1.91% 10/20/2061 <sup>(a)(d)</sup>  | 100 | 94 |
| Santander Drive Auto Receivables Trust, Series 2024-4, Class A2, 5.41% 7/15/2027 <sup>(a)</sup>  | 27 | 27 |
| Santander Drive Auto Receivables Trust, Series 2024-5, Class A2, 4.88% 9/15/2027 <sup>(a)</sup>  | 13 | 13 |
| Santander Drive Auto Receivables Trust, Series 2022-4, Class B, 4.42% 11/15/2027 <sup>(a)</sup>  | 5 | 5 |
| Santander Drive Auto Receivables Trust, Series 2023-1, Class B, 4.98% 2/15/2028 <sup>(a)</sup>  | 2 | 2 |
| Santander Drive Auto Receivables Trust, Series 2023-4, Class A3, 5.73% 4/17/2028 <sup>(a)</sup>  | 3 | 3 |
| Synchrony Card Issuance Trust, Series 2023-A, Class A, 5.54% 7/15/2029 <sup>(a)</sup>  | 12 | 12 |
| Toyota Auto Loan Extended Note Trust, Series 2023-1, Class A, 4.93% 6/25/2036 <sup>(a)(d)</sup>  | 100 | 102 |
| Wheels Fleet Lease Funding, LLC, Series 24-2A, Class A1, 4.87% 6/21/2039 <sup>(a)(d)</sup>  | 484 | 487 |
|  |  | 1603 |
| **Total bonds, notes & other debt instruments** (cost: $112,487,000) |  | 112200 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **245** | American Funds Insurance Series |

---

------

American Funds Mortgage Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| Short-term securities 17.02% | Weighted<br> average yield<br> at acquisition<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Commercial paper 11.82%** | **Commercial paper 11.82%** | **Commercial paper 11.82%** | **Commercial paper 11.82%** |
| ADP Tax Services, Inc. 7/1/2025 <sup>(d)</sup>  | 4.330<br> %<br>| USD1,400 | $1400 |
| ADP Tax Services, Inc. 7/2/2025 <sup>(d)</sup>  | 4.340 | 1500 | 1500 |
| Apple, Inc. 8/13/2025 <sup>(d)</sup>  | 4.300 | 2400 | 2387 |
| CAFCO, LLC 8/19/2025 <sup>(d)</sup>  | 4.350 | 1200 | 1193 |
| Chevron Corp. 7/22/2025 <sup>(d)</sup>  | 4.310 | 1000 | 997 |
| Chevron Corp. 9/12/2025 <sup>(d)</sup>  | 4.320 | 1500 | 1487 |
| Johnson & Johnson 7/3/2025 <sup>(d)</sup>  | 4.260 | 1000 | 1000 |
| Novartis Finance Corp. 7/7/2025 <sup>(d)</sup>  | 4.320 | 500 | 500 |
| Paccar Financial Corp. 7/10/2025  | 4.360 | 1500 | 1498 |
| Prudential Funding, LLC 7/2/2025  | 4.340 | 2000 | 1999 |
|  |  |  | 13961 |
| **Federal agency bills & notes 5.20%** | **Federal agency bills & notes 5.20%** | **Federal agency bills & notes 5.20%** | **Federal agency bills & notes 5.20%** |
| Federal Farm Credit Banks 8/21/2025  | 4.220 | 1600 | 1590 |
| Federal Farm Credit Banks 11/14/2025  | 4.140 | 900 | 886 |
| Federal Home Loan Bank 9/3/2025  | 4.230 | 2200 | 2184 |
| Federal Home Loan Bank 9/17/2025  | 4.230 | 1500 | 1486 |
| **Total short-term securities** (cost: $20,108,000) | **Total short-term securities** (cost: $20,108,000) | **Total short-term securities** (cost: $20,108,000) | 20107 |
| Options purchased (equity style) 0.00% |  |  |  |
| Options purchased (equity style)\* | Options purchased (equity style)\* |  | 5 |
| **Total options purchased (equity style)** (cost: $19,000) | **Total options purchased (equity style)** (cost: $19,000) |  | 5 |
| **Total investment securities 111.99%** (cost: $132,614,000) | **Total investment securities 111.99%** (cost: $132,614,000) |  | 132312 |
| Other assets less liabilities (11.99)% | Other assets less liabilities (11.99)% |  | (14171)<br>|
| **Net assets 100.00%** | **Net assets 100.00%** |  | $118141 |

---

<sup>\*</sup>**Options purchased (equity style)**

------

**Options on futures** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Description | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exercise <br>price<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value at <br>6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| **Call** |  |  |  |  |  |
| 3 Month SOFR Futures Options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/12/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD97.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD4,500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1 |
| 3 Month SOFR Futures Options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/12/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $2 |
| **Put** |  |  |  |  |  |
| 3 Month SOFR Futures Options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/12/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD95.69 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $3 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $5 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **246** |

---

------

American Funds Mortgage Fund (continued)

**Futures contracts**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Contracts | Type | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value and <br>unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| 3 Month SOFR Futures | Long | 62 | 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD14,828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(2)<br>|
| 2 Year U.S. Treasury Note Futures | Long | 212 | 10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 44101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 169 |
| 5 Year U.S. Treasury Note Futures | Long | 191 | 10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20819 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 229 |
| 10 Year U.S. Treasury Note Futures | Long | 45 | 9/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 98 |
| 10 Year Ultra U.S. Treasury Note Futures | Long | 17 | 9/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1943 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 44 |
| 20 Year U.S. Treasury Bond Futures | Long | 15 | 9/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 63 |
| 30 Year Ultra U.S. Treasury Bond Futures | Short | 5 | 9/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (596)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (22)<br>|
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $579 |

---

**Swap contracts**

------

**Interest rate swaps**

**Centrally cleared interest rate swaps** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | Receive | Pay | Pay | &nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date | &nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp; Value at <br>6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp; Upfront <br>premium <br>paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(received) <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| Rate | &nbsp;&nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| Rate | &nbsp;&nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| &nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date | &nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp; Value at <br>6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp; Upfront <br>premium <br>paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(received) <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| SOFR | Annual | 3.6025% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 1/8/2034 | &nbsp;&nbsp;&nbsp;&nbsp; USD495 | &nbsp;&nbsp;&nbsp;&nbsp; $— <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— <br><sup>(b)</sup><br>|
| SOFR | Annual | 3.8215% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 4/23/2035 | &nbsp;&nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp;&nbsp;&nbsp; (1)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| SOFR | Annual | 3.41% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 7/28/2045 | &nbsp;&nbsp;&nbsp;&nbsp; USD1,300 | &nbsp;&nbsp;&nbsp;&nbsp; 101 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 101 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; $100 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $100 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Principal payments may be made periodically. Therefore, the effective maturity date may be earlier than the stated maturity date.

<sup>(b)</sup> Amount less than one thousand.

<sup>(c)</sup> All or a portion of this security was pledged as collateral. The total value of pledged collateral was $841,000, which represented 0.71% of the net assets of the fund. 

<sup>(d)</sup> Acquired in a transaction exempt from registration under Rule 144A or, for commercial paper, Section 4(a)(2) of the Securities Act of 1933. May be resold in the U.S. in transactions exempt from registration, normally to qualified institutional buyers. The total value of all such securities was $13,564,000, which represented 11.48% of the net assets of the fund. 

<sup>(e)</sup> Coupon rate may change periodically. Reference rate and spread are as of the most recent information available. Some coupon rates are determined by the issuer or agent based on current market conditions; therefore, the reference rate and spread are not available. 

<sup>(f)</sup> Represents securities transacted on a TBA basis.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **Key to abbreviation(s)** |
| Assn. = Association |
| CME = CME Group |
| SOFR = Secured Overnight Financing Rate |
| TBA = To be announced |
| USD = U.S. dollars |

---

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **247** | American Funds Insurance Series |

---

------

Ultra-Short Bond Fund

**Investment portfolio** June 30, 2025unaudited

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
| Short-term securities 101.39% | Weighted<br> average yield<br> at acquisition<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Commercial paper 72.15%** | **Commercial paper 72.15%** | **Commercial paper 72.15%** | **Commercial paper 72.15%** |
| ADP Tax Services, Inc. 7/02/2025 <sup>(a)</sup>  | 0.027<br> %<br>| USD3,000 | $2999 |
| Alphabet,Inc. 9/23/2025 <sup>(a)</sup>  | 0.924 | 12000 | 11878 |
| Apple, Inc. 8/04/2025 <sup>(a)</sup>  | 0.495 | 5000 | 4979 |
| Apple, Inc. 9/15/2025 <sup>(a)</sup>  | 0.963 | 7000 | 6936 |
| Chariot Funding, LLC 9/04/2025 <sup>(a)</sup>  | 0.969 | 5000 | 4960 |
| Chariot Funding, LLC 9/15/2025 <sup>(a)</sup>  | 0.964 | 3500 | 3467 |
| Chevron Corp. 7/22/2025 <sup>(a)</sup>  | 1.025 | 3300 | 3291 |
| Cisco Systems, Inc. 7/10/2025 <sup>(a)</sup>  | 0.213 | 7000 | 6992 |
| Cisco Systems, Inc. 8/01/2025 <sup>(a)</sup>  | 1.001 | 5000 | 4981 |
| DBS Bank, Ltd. 8/18/2025 <sup>(a)</sup>  | 0.583 | 12000 | 11929 |
| Honeywell International, Inc. 7/01/2025 <sup>(a)</sup>  | 1.976 | 10000 | 9999 |
| Johnson & Johnson 7/03/2025 <sup>(a)</sup>  | 0.850 | 7000 | 6997 |
| Johnson & Johnson 8/13/2025 <sup>(a)</sup>  | 0.964 | 5000 | 4974 |
| Komatsu Finance America, Inc. 9/11/2025 <sup>(a)</sup>  | 0.802 | 1600 | 1586 |
| Linde, Inc. 7/01/2025  | 0.576 | 5500 | 5499 |
| Linde, Inc. 8/27/2025  | 0.678 | 7000 | 6952 |
| LVMH Moet Hennessy Louis Vuitton, Inc. 10/01/2025 <sup>(a)</sup>  | 0.961 | 8900 | 8800 |
| Nestle Finance International, Ltd. 7/30/2025 <sup>(a)</sup>  | 0.671 | 11600 | 11558 |
| Novartis Finance Corp. 7/21/2025 <sup>(a)</sup>  | 0.297 | 10000 | 9975 |
| Novartis Finance Corp. 7/22/2025 <sup>(a)</sup>  | 0.423 | 1400 | 1396 |
| NRW.Bank 8/15/2025 <sup>(a)</sup>  | 1.141 | 12000 | 11934 |
| OMERS Finance Trust 7/22/2025  | 1.031 | 7000 | 6981 |
| Procter & Gamble Co. 9/22/2025 <sup>(a)</sup>  | 1.050 | 2200 | 2178 |
| Procter & Gamble Co. 9/24/2025 <sup>(a)</sup>  | 1.064 | 10000 | 9898 |
| Prudential Funding, LLC 7/02/2025  | 0.385 | 12000 | 11997 |
| Roche Holdings, Inc. 9/03/2025 <sup>(a)</sup>  | 0.756 | 10000 | 9922 |
| Sanofi 8/28/2025 <sup>(a)</sup>  | 0.983 | 6000 | 5957 |
| Sanofi 9/17/2025 <sup>(a)</sup>  | 0.924 | 5000 | 4953 |
| Siemens Capital Co., LLC 7/01/2025 <sup>(a)</sup>  | 0.399 | 10000 | 9999 |
| Sumitomo Mitsui Trust Bank, Ltd. 7/18/2025 <sup>(a)</sup>  | 1.101 | 7000 | 6985 |
| Victory Receivables Corp. 7/11/2025 <sup>(a)</sup>  | 1.041 | 10000 | 9987 |
| Wal-Mart Stores, Inc. 7/07/2025 <sup>(a)</sup>  | 0.566 | 7000 | 6994 |
| Wal-Mart Stores, Inc. 7/14/2025 <sup>(a)</sup>  | 0.303 | 6000 | 5990 |
|  |  |  | 233923 |
| **Bonds & notes of governments & government agencies outside the U.S. 20.81%** | **Bonds & notes of governments & government agencies outside the U.S. 20.81%** | **Bonds & notes of governments & government agencies outside the U.S. 20.81%** | **Bonds & notes of governments & government agencies outside the U.S. 20.81%** |
| Alberta (Province of) 7/02/2025 <sup>(a)</sup>  | 0.319 | 4800 | 4799 |
| Alberta (Province of) 7/21/2025 <sup>(a)</sup>  | 0.455 | 3400 | 3391 |
| Alberta (Province of) 8/20/2025 <sup>(a)</sup>  | 0.620 | 3400 | 3379 |
| European Investment Bank 7/17/2025  | 0.816 | 11500 | 11477 |
| KfW 9/03/2025 <sup>(a)</sup>  | 1.724 | 7000 | 6946 |
| KfW 9/17/2025 <sup>(a)</sup>  | 0.871 | 6000 | 5944 |
| Ontario (Province of) 7/18/2025  | 0.269 | 4100 | 4091 |
| Ontario (Province of) 7/21/2025  | 0.616 | 2500 | 2494 |
| Ontario (Province of) 9/16/2025  | 0.906 | 5000 | 4953 |
| Quebec (Province of) 7/09/2025 <sup>(a)</sup>  | 0.341 | 6000 | 5993 |
| Quebec (Province of) 7/31/2025 <sup>(a)</sup>  | 0.499 | 4100 | 4085 |
| Swedish Export Credit Corp. 9/10/2025  | 0.943 | 10000 | 9913 |
|  |  |  | 67465 |
| **Federal agency bills & notes 8.43%** | **Federal agency bills & notes 8.43%** | **Federal agency bills & notes 8.43%** | **Federal agency bills & notes 8.43%** |
| Federal Farm Credit Banks 8/11/2025  | 0.563 | 3400 | 3384 |
| Federal Farm Credit Banks 8/21/2025  | 0.662 | 2400 | 2386 |
| Federal Home Loan Bank 7/09/2025  | 0.801 | 4600 | 4596 |
| Federal Home Loan Bank 8/11/2025  | 0.512 | 1800 | 1791 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **248** |

---

------

Ultra-Short Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| Short-term securities (continued) | Weighted<br> average yield<br> at acquisition<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Federal agency bills & notes (continued)** | **Federal agency bills & notes (continued)** | **Federal agency bills & notes (continued)** | **Federal agency bills & notes (continued)** |
| Federal Home Loan Bank 8/22/2025  | 1.426<br> %<br>| USD6,400 | $6361 |
| Federal Home Loan Bank 8/27/2025  | 0.913 | 3900 | 3874 |
| Federal Home Loan Bank 9/17/2025  | 0.852 | 5000 | 4954 |
|  |  |  | 27346 |
| **Total short-term securities** (cost: $328,764,000) | **Total short-term securities** (cost: $328,764,000) | **Total short-term securities** (cost: $328,764,000) | 328734 |
| **Total investment securities 101.39%** (cost: $328,764,000) | **Total investment securities 101.39%** (cost: $328,764,000) | **Total investment securities 101.39%** (cost: $328,764,000) | 328734 |
| Other assets less liabilities (1.39)% |  |  | (4504)<br>|
| **Net assets 100.00%** |  |  | $324230 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Acquired in a transaction exempt from registration under Rule 144A or, for commercial paper, Section 4(a)(2) of the Securities Act of 1933. May be resold in the U.S. in transactions exempt from registration, normally to qualified institutional buyers. The total value of all such securities was $237,031,000, which represented 73.11% of the net assets of the fund. 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **Key to abbreviation(s)** |
| USD = U.S. dollars |

---

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **249** | American Funds Insurance Series |

---

------

U.S. Government Securities Fund

**Investment portfolio** June 30, 2025unaudited

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments 87.01% | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations 46.44%** | **Mortgage-backed obligations 46.44%** | **Mortgage-backed obligations 46.44%** |
| **Federal agency mortgage-backed obligations 46.44%** |  |  |
| Fannie Mae Pool #745316 6.50% 2/1/2026 <sup>(a)</sup>  | USD4 | $4 |
| Fannie Mae Pool #AL9870 6.50% 2/1/2028 <sup>(a)</sup>  | 8 | 8 |
| Fannie Mae Pool #257431 6.50% 10/1/2028 <sup>(a)</sup>  | 1 | 1 |
| Fannie Mae Pool #695412 5.00% 6/1/2033 <sup>(a)</sup>  | — <br><sup>(b)</sup><br>| — <br><sup>(b)</sup><br>|
| Fannie Mae Pool #AD3566 5.00% 10/1/2035 <sup>(a)</sup>  | 3 | 3 |
| Fannie Mae Pool #MA2588 4.00% 4/1/2036 <sup>(a)</sup>  | 459 | 455 |
| Fannie Mae Pool #MA2746 4.00% 9/1/2036 <sup>(a)</sup>  | 1022 | 1011 |
| Fannie Mae Pool #CB3701 2.50% 5/1/2037 <sup>(a)</sup>  | 775 | 724 |
| Fannie Mae Pool #940890 6.50% 6/1/2037 <sup>(a)</sup>  | — <br><sup>(b)</sup><br>| — <br><sup>(b)</sup><br>|
| Fannie Mae Pool #MA4665 2.50% 7/1/2037 <sup>(a)</sup>  | 324 | 303 |
| Fannie Mae Pool #256828 7.00% 7/1/2037 <sup>(a)</sup>  | 2 | 3 |
| Fannie Mae Pool #256860 6.50% 8/1/2037 <sup>(a)</sup>  | 10 | 10 |
| Fannie Mae Pool #888698 7.00% 10/1/2037 <sup>(a)</sup>  | 12 | 12 |
| Fannie Mae Pool #970343 6.00% 2/1/2038 <sup>(a)</sup>  | 12 | 12 |
| Fannie Mae Pool #931768 5.00% 8/1/2039 <sup>(a)</sup>  | 4 | 4 |
| Fannie Mae Pool #AC0794 5.00% 10/1/2039 <sup>(a)</sup>  | 18 | 18 |
| Fannie Mae Pool #932606 5.00% 2/1/2040 <sup>(a)</sup>  | 6 | 6 |
| Fannie Mae Pool #FM7365 2.00% 5/1/2041 <sup>(a)</sup>  | 24153 | 20849 |
| Fannie Mae Pool #AI1862 5.00% 5/1/2041 <sup>(a)</sup>  | 257 | 261 |
| Fannie Mae Pool #AI3510 5.00% 6/1/2041 <sup>(a)</sup>  | 135 | 137 |
| Fannie Mae Pool #AE1248 5.00% 6/1/2041 <sup>(a)</sup>  | 28 | 28 |
| Fannie Mae Pool #AJ0704 5.00% 9/1/2041 <sup>(a)</sup>  | 121 | 123 |
| Fannie Mae Pool #AJ1873 4.00% 10/1/2041 <sup>(a)</sup>  | 19 | 19 |
| Fannie Mae Pool #AJ5391 5.00% 11/1/2041 <sup>(a)</sup>  | 68 | 69 |
| Fannie Mae Pool #AE1277 5.00% 11/1/2041 <sup>(a)</sup>  | 12 | 12 |
| Fannie Mae Pool #AE1283 5.00% 12/1/2041 <sup>(a)</sup>  | 7 | 8 |
| Fannie Mae Pool #AE1290 5.00% 2/1/2042 <sup>(a)</sup>  | 16 | 16 |
| Fannie Mae Pool #AT0300 3.50% 3/1/2043 <sup>(a)</sup>  | 4 | 4 |
| Fannie Mae Pool #AT3954 3.50% 4/1/2043 <sup>(a)</sup>  | 6 | 5 |
| Fannie Mae Pool #AT7161 3.50% 6/1/2043 <sup>(a)</sup>  | 29 | 27 |
| Fannie Mae Pool #MA5235 6.50% 12/1/2043 <sup>(a)</sup>  | 1070 | 1107 |
| Fannie Mae Pool #AY1829 3.50% 12/1/2044 <sup>(a)</sup>  | 7 | 6 |
| Fannie Mae Pool #BE5017 3.50% 2/1/2045 <sup>(a)</sup>  | 52 | 49 |
| Fannie Mae Pool #FM9416 3.50% 7/1/2045 <sup>(a)</sup>  | 3526 | 3276 |
| Fannie Mae Pool #BE8740 3.50% 5/1/2047 <sup>(a)</sup>  | 45 | 41 |
| Fannie Mae Pool #BE8742 3.50% 5/1/2047 <sup>(a)</sup>  | 12 | 11 |
| Fannie Mae Pool #BH2846 3.50% 5/1/2047 <sup>(a)</sup>  | 6 | 6 |
| Fannie Mae Pool #BH2848 3.50% 5/1/2047 <sup>(a)</sup>  | 6 | 5 |
| Fannie Mae Pool #BH2847 3.50% 5/1/2047 <sup>(a)</sup>  | 2 | 1 |
| Fannie Mae Pool #BH3122 4.00% 6/1/2047 <sup>(a)</sup>  | 5 | 5 |
| Fannie Mae Pool #BJ5015 4.00% 12/1/2047 <sup>(a)</sup>  | 105 | 100 |
| Fannie Mae Pool #BM3788 3.50% 3/1/2048 <sup>(a)</sup>  | 2531 | 2334 |
| Fannie Mae Pool #BJ4901 3.50% 3/1/2048 <sup>(a)</sup>  | 33 | 30 |
| Fannie Mae Pool #BK5232 4.00% 5/1/2048 <sup>(a)</sup>  | 62 | 58 |
| Fannie Mae Pool #BK6840 4.00% 6/1/2048 <sup>(a)</sup>  | 87 | 83 |
| Fannie Mae Pool #BK9743 4.00% 8/1/2048 <sup>(a)</sup>  | 24 | 23 |
| Fannie Mae Pool #BK9761 4.50% 8/1/2048 <sup>(a)</sup>  | 13 | 13 |
| Fannie Mae Pool #FM3280 3.50% 5/1/2049 <sup>(a)</sup>  | 909 | 846 |
| Fannie Mae Pool #FM1062 3.50% 6/1/2049 <sup>(a)</sup>  | 337 | 312 |
| Fannie Mae Pool #BJ8411 3.50% 8/1/2049 <sup>(a)</sup>  | 89 | 82 |
| Fannie Mae Pool #CA4151 3.50% 9/1/2049 <sup>(a)</sup>  | 458 | 424 |
| Fannie Mae Pool #FM1443 3.50% 9/1/2049 <sup>(a)</sup>  | 248 | 229 |
| Fannie Mae Pool #FM2179 3.00% 1/1/2050 <sup>(a)</sup>  | 2904 | 2577 |
| Fannie Mae Pool #CA6593 2.50% 8/1/2050 <sup>(a)</sup>  | 744 | 628 |
| Fannie Mae Pool #CA7052 3.00% 9/1/2050 <sup>(a)</sup>  | 25 | 22 |
| Fannie Mae Pool #BQ3005 2.50% 10/1/2050 <sup>(a)</sup>  | 468 | 391 |
| Fannie Mae Pool #CA7257 2.50% 10/1/2050 <sup>(a)</sup>  | 159 | 134 |
| Fannie Mae Pool #CA7739 2.50% 11/1/2050 <sup>(a)</sup>  | 1592 | 1339 |
| Fannie Mae Pool #MA4208 2.00% 12/1/2050 <sup>(a)</sup>  | 194 | 155 |
| Fannie Mae Pool #BR0772 2.00% 1/1/2051 <sup>(a)</sup>  | 1362 | 1080 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **250** |

---

------

U.S. Government Securities Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** |  |  |
| Fannie Mae Pool #MA4237 2.00% 1/1/2051 <sup>(a)</sup>  | USD68 | $54 |
| Fannie Mae Pool #FM6548 2.00% 3/1/2051 <sup>(a)</sup>  | 911 | 736 |
| Fannie Mae Pool #CB0290 2.00% 4/1/2051 <sup>(a)</sup>  | 580 | 460 |
| Fannie Mae Pool #MA4305 2.00% 4/1/2051 <sup>(a)</sup>  | 9 | 7 |
| Fannie Mae Pool #FM6856 2.50% 4/1/2051 <sup>(a)</sup>  | 351 | 294 |
| Fannie Mae Pool #BR1035 2.00% 5/1/2051 <sup>(a)</sup>  | 6 | 4 |
| Fannie Mae Pool #FM8114 2.00% 6/1/2051 <sup>(a)</sup>  | 1374 | 1089 |
| Fannie Mae Pool #FM7687 3.00% 6/1/2051 <sup>(a)</sup>  | 4462 | 3942 |
| Fannie Mae Pool #BR2095 2.50% 7/1/2051 <sup>(a)</sup>  | 1325 | 1108 |
| Fannie Mae Pool #FM7900 2.50% 7/1/2051 <sup>(a)</sup>  | 156 | 132 |
| Fannie Mae Pool #FM8422 2.50% 8/1/2051 <sup>(a)</sup>  | 502 | 416 |
| Fannie Mae Pool #FM8745 2.50% 9/1/2051 <sup>(a)</sup>  | 1259 | 1045 |
| Fannie Mae Pool #CB1527 2.50% 9/1/2051 <sup>(a)</sup>  | 579 | 485 |
| Fannie Mae Pool #FS1630 2.50% 9/1/2051 <sup>(a)</sup>  | 375 | 311 |
| Fannie Mae Pool #FS0965 2.00% 11/1/2051 <sup>(a)</sup>  | 41 | 33 |
| Fannie Mae Pool #CB2286 2.50% 12/1/2051 <sup>(a)</sup>  | 1041 | 875 |
| Fannie Mae Pool #FM9976 3.00% 12/1/2051 <sup>(a)</sup>  | 666 | 589 |
| Fannie Mae Pool #BV0894 2.00% 1/1/2052 <sup>(a)</sup>  | 481 | 381 |
| Fannie Mae Pool #CB2544 3.00% 1/1/2052 <sup>(a)</sup>  | 1951 | 1709 |
| Fannie Mae Pool #CB2666 3.00% 1/1/2052 <sup>(a)</sup>  | 1000 | 866 |
| Fannie Mae Pool #BV3076 2.00% 2/1/2052 <sup>(a)</sup>  | 399 | 316 |
| Fannie Mae Pool #FS5037 2.50% 2/1/2052 <sup>(a)</sup>  | 381 | 317 |
| Fannie Mae Pool #FS0523 2.50% 2/1/2052 <sup>(a)</sup>  | 168 | 141 |
| Fannie Mae Pool #FS0647 3.00% 2/1/2052 <sup>(a)</sup>  | 3076 | 2710 |
| Fannie Mae Pool #BV0162 2.00% 3/1/2052 <sup>(a)</sup>  | 5245 | 4157 |
| Fannie Mae Pool #CB3140 4.00% 3/1/2052 <sup>(a)</sup>  | 414 | 386 |
| Fannie Mae Pool #BV7703 2.00% 4/1/2052 <sup>(a)</sup>  | 3271 | 2599 |
| Fannie Mae Pool #CB3354 2.50% 4/1/2052 <sup>(a)</sup>  | 7164 | 5947 |
| Fannie Mae Pool #CB3523 3.00% 5/1/2052 <sup>(a)</sup>  | 173 | 150 |
| Fannie Mae Pool #CB3528 4.00% 5/1/2052 <sup>(a)</sup>  | 573 | 534 |
| Fannie Mae Pool #FS7329 2.00% 6/1/2052 <sup>(a)</sup>  | 101 | 80 |
| Fannie Mae Pool #CB3774 4.00% 6/1/2052 <sup>(a)</sup>  | 2587 | 2412 |
| Fannie Mae Pool #FS2159 5.00% 6/1/2052 <sup>(a)</sup>  | 53 | 53 |
| Fannie Mae Pool #BV2558 5.00% 6/1/2052 <sup>(a)</sup>  | 47 | 47 |
| Fannie Mae Pool #FS6986 2.00% 7/1/2052 <sup>(a)</sup>  | 211 | 167 |
| Fannie Mae Pool #FS6362 3.50% 8/1/2052 <sup>(a)</sup>  | 2265 | 2045 |
| Fannie Mae Pool #BW7327 4.50% 8/1/2052 <sup>(a)</sup>  | 2765 | 2652 |
| Fannie Mae Pool #BV8976 5.00% 8/1/2052 <sup>(a)</sup>  | 311 | 308 |
| Fannie Mae Pool #FS2489 5.00% 8/1/2052 <sup>(a)</sup>  | 48 | 47 |
| Fannie Mae Pool #MA4732 4.00% 9/1/2052 <sup>(a)</sup>  | 1239 | 1155 |
| Fannie Mae Pool #BW1192 4.50% 9/1/2052 <sup>(a)</sup>  | 649 | 622 |
| Fannie Mae Pool #FS4611 5.00% 9/1/2052 <sup>(a)</sup>  | 8362 | 8240 |
| Fannie Mae Pool #FS3056 2.00% 10/1/2052 <sup>(a)</sup>  | 3297 | 2616 |
| Fannie Mae Pool #BW9458 4.50% 10/1/2052 <sup>(a)</sup>  | 922 | 886 |
| Fannie Mae Pool #BX0097 4.50% 10/1/2052 <sup>(a)</sup>  | 839 | 806 |
| Fannie Mae Pool #FS5994 5.00% 10/1/2052 <sup>(a)</sup>  | 8256 | 8137 |
| Fannie Mae Pool #BX1004 5.00% 10/1/2052 <sup>(a)</sup>  | 4769 | 4693 |
| Fannie Mae Pool #BW1289 5.50% 10/1/2052 <sup>(a)</sup>  | 596 | 598 |
| Fannie Mae Pool #BW1243 5.50% 10/1/2052 <sup>(a)</sup>  | 542 | 544 |
| Fannie Mae Pool #CB4917 5.50% 10/1/2052 <sup>(a)</sup>  | 83 | 83 |
| Fannie Mae Pool #MA4820 6.50% 10/1/2052 <sup>(a)</sup>  | 209 | 218 |
| Fannie Mae Pool #CB5118 4.00% 11/1/2052 <sup>(a)</sup>  | 51 | 48 |
| Fannie Mae Pool #MA4805 4.50% 11/1/2052 <sup>(a)</sup>  | 8 | 8 |
| Fannie Mae Pool #BX3198 4.00% 12/1/2052 <sup>(a)</sup>  | 52 | 49 |
| Fannie Mae Pool #MA4840 4.50% 12/1/2052 <sup>(a)</sup>  | 2569 | 2464 |
| Fannie Mae Pool #BX6121 6.00% 1/1/2053 <sup>(a)</sup>  | 1867 | 1914 |
| Fannie Mae Pool #BY1411 4.00% 2/1/2053 <sup>(a)</sup>  | 1383 | 1287 |
| Fannie Mae Pool #MA4919 5.50% 2/1/2053 <sup>(a)</sup>  | 9 | 9 |
| Fannie Mae Pool #FS3759 6.00% 2/1/2053 <sup>(a)</sup>  | 710 | 732 |
| Fannie Mae Pool #CB5919 6.00% 3/1/2053 <sup>(a)</sup>  | 797 | 812 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **251** | American Funds Insurance Series |

---

------

U.S. Government Securities Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** |  |  |
| Fannie Mae Pool #CB5912 6.00% 3/1/2053 <sup>(a)</sup>  | USD588 | $602 |
| Fannie Mae Pool #BY2249 4.00% 4/1/2053 <sup>(a)</sup>  | 225 | 210 |
| Fannie Mae Pool #MA4979 5.50% 4/1/2053 <sup>(a)</sup>  | 2105 | 2110 |
| Fannie Mae Pool #CB6106 6.50% 4/1/2053 <sup>(a)</sup>  | 354 | 369 |
| Fannie Mae Pool #MA5027 4.00% 5/1/2053 <sup>(a)</sup>  | 939 | 875 |
| Fannie Mae Pool #MA5010 5.50% 5/1/2053 <sup>(a)</sup>  | 313 | 314 |
| Fannie Mae Pool #MA5011 6.00% 5/1/2053 <sup>(a)</sup>  | 1798 | 1834 |
| Fannie Mae Pool #BW9778 4.00% 6/1/2053 <sup>(a)</sup>  | 1304 | 1215 |
| Fannie Mae Pool #CB6590 4.00% 6/1/2053 <sup>(a)</sup>  | 72 | 67 |
| Fannie Mae Pool #MA5039 5.50% 6/1/2053 <sup>(a)</sup>  | 2867 | 2872 |
| Fannie Mae Pool #CB6485 6.00% 6/1/2053 <sup>(a)</sup>  | 2855 | 2905 |
| Fannie Mae Pool #FS4933 6.00% 6/1/2053 <sup>(a)</sup>  | 1904 | 1940 |
| Fannie Mae Pool #CB6486 6.00% 6/1/2053 <sup>(a)</sup>  | 1771 | 1810 |
| Fannie Mae Pool #MA5040 6.00% 6/1/2053 <sup>(a)</sup>  | 1406 | 1433 |
| Fannie Mae Pool #CB6465 6.00% 6/1/2053 <sup>(a)</sup>  | 1338 | 1370 |
| Fannie Mae Pool #CB6626 4.00% 7/1/2053 <sup>(a)</sup>  | 800 | 745 |
| Fannie Mae Pool #BW9646 4.00% 7/1/2053 <sup>(a)</sup>  | 46 | 43 |
| Fannie Mae Pool #MA5070 4.50% 7/1/2053 <sup>(a)</sup>  | 1114 | 1068 |
| Fannie Mae Pool #CB6719 4.50% 7/1/2053 <sup>(a)</sup>  | 358 | 343 |
| Fannie Mae Pool #MA5072 5.50% 7/1/2053 <sup>(a)</sup>  | 9764 | 9782 |
| Fannie Mae Pool #MA5073 6.00% 7/1/2053 <sup>(a)</sup>  | 1681 | 1713 |
| Fannie Mae Pool #FS5343 6.00% 7/1/2053 <sup>(a)</sup>  | 279 | 284 |
| Fannie Mae Pool #MA5127 4.00% 8/1/2053 <sup>(a)</sup>  | 62 | 57 |
| Fannie Mae Pool #CB6853 4.50% 8/1/2053 <sup>(a)</sup>  | 441 | 423 |
| Fannie Mae Pool #MA5107 5.50% 8/1/2053 <sup>(a)</sup>  | 201 | 201 |
| Fannie Mae Pool #CB7216 4.00% 9/1/2053 <sup>(a)</sup>  | 27 | 25 |
| Fannie Mae Pool #MA5177 4.00% 10/1/2053 <sup>(a)</sup>  | 2630 | 2450 |
| Fannie Mae Pool #MA5165 5.50% 10/1/2053 <sup>(a)</sup>  | 21627 | 21663 |
| Fannie Mae Pool #MA5166 6.00% 10/1/2053 <sup>(a)</sup>  | 512 | 521 |
| Fannie Mae Pool #CB7242 6.50% 10/1/2053 <sup>(a)</sup>  | 689 | 716 |
| Fannie Mae Pool #MA5167 6.50% 10/1/2053 <sup>(a)</sup>  | 223 | 230 |
| Fannie Mae Pool #MA5207 4.00% 11/1/2053 <sup>(a)</sup>  | 978 | 910 |
| Fannie Mae Pool #MA5236 4.00% 12/1/2053 <sup>(a)</sup>  | 24 | 22 |
| Fannie Mae Pool #FS6668 5.50% 12/1/2053 <sup>(a)</sup>  | 518 | 519 |
| Fannie Mae Pool #MA5215 5.50% 12/1/2053 <sup>(a)</sup>  | 145 | 146 |
| Fannie Mae Pool #CB7624 6.50% 12/1/2053 <sup>(a)</sup>  | 12089 | 12533 |
| Fannie Mae Pool #FS6873 6.50% 1/1/2054 <sup>(a)</sup>  | 3439 | 3556 |
| Fannie Mae Pool #FS7990 4.00% 2/1/2054 <sup>(a)</sup>  | 1954 | 1819 |
| Fannie Mae Pool #MA5283 4.00% 2/1/2054 <sup>(a)</sup>  | 907 | 845 |
| Fannie Mae Pool #FS6809 5.50% 2/1/2054 <sup>(a)</sup>  | 479 | 479 |
| Fannie Mae Pool #MA5296 5.50% 3/1/2054 <sup>(a)</sup>  | 955 | 956 |
| Fannie Mae Pool #DA7881 5.50% 3/1/2054 <sup>(a)</sup>  | 401 | 401 |
| Fannie Mae Pool #MA5341 4.00% 4/1/2054 <sup>(a)</sup>  | 2758 | 2567 |
| Fannie Mae Pool #CB8328 5.50% 4/1/2054 <sup>(a)</sup>  | 1253 | 1262 |
| Fannie Mae Pool #DB1235 6.00% 4/1/2054 <sup>(a)</sup>  | 634 | 650 |
| Fannie Mae Pool #CB8387 6.50% 4/1/2054 <sup>(a)</sup>  | 1272 | 1328 |
| Fannie Mae Pool #MA5353 5.50% 5/1/2054 <sup>(a)</sup>  | 5594 | 5598 |
| Fannie Mae Pool #CB8507 6.50% 5/1/2054 <sup>(a)</sup>  | 1910 | 1990 |
| Fannie Mae Pool #CB8755 6.00% 6/1/2054 <sup>(a)</sup>  | 3074 | 3145 |
| Fannie Mae Pool #DB6878 6.00% 6/1/2054 <sup>(a)</sup>  | 817 | 831 |
| Fannie Mae Pool #CB8725 6.50% 6/1/2054 <sup>(a)</sup>  | 4370 | 4541 |
| Fannie Mae Pool #BU4700 6.00% 7/1/2054 <sup>(a)</sup>  | 7511 | 7653 |
| Fannie Mae Pool #FS8591 6.00% 7/1/2054 <sup>(a)</sup>  | 3833 | 3934 |
| Fannie Mae Pool #DB6901 6.00% 7/1/2054 <sup>(a)</sup>  | 1011 | 1029 |
| Fannie Mae Pool #BU4707 6.00% 7/1/2054 <sup>(a)</sup>  | 177 | 180 |
| Fannie Mae Pool #CB8872 6.50% 7/1/2054 <sup>(a)</sup>  | 6817 | 7099 |
| Fannie Mae Pool #CB8876 6.50% 7/1/2054 <sup>(a)</sup>  | 2007 | 2087 |
| Fannie Mae Pool #FS8317 6.50% 7/1/2054 <sup>(a)</sup>  | 1133 | 1180 |
| Fannie Mae Pool #FS9819 7.00% 7/1/2054 <sup>(a)</sup>  | 271 | 286 |
| Fannie Mae Pool #FS8757 6.00% 8/1/2054 <sup>(a)</sup>  | 233 | 239 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **252** |

---

------

U.S. Government Securities Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** |  |  |
| Fannie Mae Pool #MA5445 6.00% 8/1/2054 <sup>(a)</sup>  | USD215 | $219 |
| Fannie Mae Pool #FS8795 6.00% 8/1/2054 <sup>(a)</sup>  | 124 | 126 |
| Fannie Mae Pool #BU4916 6.00% 8/1/2054 <sup>(a)</sup>  | 115 | 117 |
| Fannie Mae Pool #DB7792 6.00% 8/1/2054 <sup>(a)</sup>  | 108 | 110 |
| Fannie Mae Pool #FS8756 6.00% 8/1/2054 <sup>(a)</sup>  | 96 | 98 |
| Fannie Mae Pool #FS9009 5.50% 9/1/2054 <sup>(a)</sup>  | 1989 | 2004 |
| Fannie Mae Pool #BU5166 6.00% 10/1/2054 <sup>(a)</sup>  | 1464 | 1492 |
| Fannie Mae Pool #DC5704 4.00% 11/1/2054 <sup>(a)</sup>  | 133 | 124 |
| Fannie Mae Pool #BU5165 5.50% 11/1/2054 <sup>(a)</sup>  | 209 | 209 |
| Fannie Mae Pool #MA5531 5.50% 11/1/2054 <sup>(a)</sup>  | 24 | 24 |
| Fannie Mae Pool #CB9432 6.00% 11/1/2054 <sup>(a)</sup>  | 398 | 406 |
| Fannie Mae Pool #MA5552 5.00% 12/1/2054 <sup>(a)</sup>  | 815 | 800 |
| Fannie Mae Pool #DC7823 6.00% 12/1/2054 <sup>(a)</sup>  | 37 | 38 |
| Fannie Mae Pool #MA5587 6.00% 1/1/2055 <sup>(a)</sup>  | 1850 | 1882 |
| Fannie Mae Pool #CB9821 6.00% 1/1/2055 <sup>(a)</sup>  | 1073 | 1094 |
| Fannie Mae Pool #FA0608 5.50% 2/1/2055 <sup>(a)</sup>  | 28 | 28 |
| Fannie Mae Pool #MA5631 6.50% 2/1/2055 <sup>(a)</sup>  | 4000 | 4134 |
| Fannie Mae Pool #MA5646 5.50% 3/1/2055 <sup>(a)</sup>  | 7938 | 7942 |
| Fannie Mae Pool #MA5647 6.00% 3/1/2055 <sup>(a)</sup>  | 145 | 147 |
| Fannie Mae Pool #MA5674 6.00% 4/1/2055 <sup>(a)</sup>  | 2158 | 2194 |
| Fannie Mae Pool #MA5701 6.00% 5/1/2055 <sup>(a)</sup>  | 3226 | 3280 |
| Fannie Mae Pool #BF0497 3.00% 7/1/2060 <sup>(a)</sup>  | 1149 | 991 |
| Fannie Mae Pool #BF0585 4.50% 12/1/2061 <sup>(a)</sup>  | 349 | 334 |
| Fannie Mae Pool #BF0765 3.50% 9/1/2063 <sup>(a)</sup>  | 441 | 391 |
| Fannie Mae Pool #DB0754 5.50% 3/1/2054 <sup>(a)</sup>  | 51 | 51 |
| Fannie Mae Pool #MA5528 4.00% 11/1/2054 <sup>(a)</sup>  | 947 | 881 |
| Fannie Mae Pool #MB0299 4.00% 2/1/2055 <sup>(a)</sup>  | 899 | 836 |
| FARM Mortgage Trust, Series 2024-1, Class A, 4.702% 10/1/2053 <sup>(a)(c)(d)</sup>  | 990 | 963 |
| Freddie Mac Pool #ZS8907 6.50% 10/1/2026 <sup>(a)</sup>  | — <br><sup>(b)</sup><br>| — <br><sup>(b)</sup><br>|
| Freddie Mac Pool #ZA2024 6.50% 9/1/2027 <sup>(a)</sup>  | 1 | 1 |
| Freddie Mac Pool #1H1354 7.081% 11/1/2036 <sup>(a)(d)</sup>  | 30 | 31 |
| Freddie Mac Pool #QO0557 2.50% 7/1/2037 <sup>(a)</sup>  | 1130 | 1056 |
| Freddie Mac Pool #C03518 5.00% 9/1/2040 <sup>(a)</sup>  | 234 | 237 |
| Freddie Mac Pool #G06459 5.00% 5/1/2041 <sup>(a)</sup>  | 482 | 489 |
| Freddie Mac Pool #RB5145 2.00% 2/1/2042 <sup>(a)</sup>  | 630 | 542 |
| Freddie Mac Pool #RB5154 2.50% 4/1/2042 <sup>(a)</sup>  | 9080 | 8052 |
| Freddie Mac Pool #Q15874 4.00% 2/1/2043 <sup>(a)</sup>  | 3 | 3 |
| Freddie Mac Pool #Q17696 3.50% 4/1/2043 <sup>(a)</sup>  | 22 | 20 |
| Freddie Mac Pool #Q19133 3.50% 6/1/2043 <sup>(a)</sup>  | 22 | 21 |
| Freddie Mac Pool #Q23190 4.00% 11/1/2043 <sup>(a)</sup>  | 112 | 108 |
| Freddie Mac Pool #Q28558 3.50% 9/1/2044 <sup>(a)</sup>  | 165 | 155 |
| Freddie Mac Pool #760014 3.889% 8/1/2045 <sup>(a)(d)</sup>  | 210 | 209 |
| Freddie Mac Pool #Q47615 3.50% 4/1/2047 <sup>(a)</sup>  | 42 | 38 |
| Freddie Mac Pool #Q52069 3.50% 11/1/2047 <sup>(a)</sup>  | 59 | 54 |
| Freddie Mac Pool #SD0470 4.00% 11/1/2047 <sup>(a)</sup>  | 5793 | 5472 |
| Freddie Mac Pool #Q54709 3.50% 3/1/2048 <sup>(a)</sup>  | 43 | 40 |
| Freddie Mac Pool #Q54701 3.50% 3/1/2048 <sup>(a)</sup>  | 41 | 37 |
| Freddie Mac Pool #Q54700 3.50% 3/1/2048 <sup>(a)</sup>  | 34 | 31 |
| Freddie Mac Pool #Q54781 3.50% 3/1/2048 <sup>(a)</sup>  | 28 | 25 |
| Freddie Mac Pool #Q54782 3.50% 3/1/2048 <sup>(a)</sup>  | 20 | 18 |
| Freddie Mac Pool #Q54699 3.50% 3/1/2048 <sup>(a)</sup>  | 19 | 17 |
| Freddie Mac Pool #Q54831 3.50% 3/1/2048 <sup>(a)</sup>  | 12 | 11 |
| Freddie Mac Pool #Q54698 3.50% 3/1/2048 <sup>(a)</sup>  | 11 | 10 |
| Freddie Mac Pool #G67711 4.00% 3/1/2048 <sup>(a)</sup>  | 1083 | 1028 |
| Freddie Mac Pool #Q55971 4.00% 5/1/2048 <sup>(a)</sup>  | 59 | 55 |
| Freddie Mac Pool #Q56175 4.00% 5/1/2048 <sup>(a)</sup>  | 47 | 45 |
| Freddie Mac Pool #Q56590 3.50% 6/1/2048 <sup>(a)</sup>  | 23 | 21 |
| Freddie Mac Pool #Q56589 3.50% 6/1/2048 <sup>(a)</sup>  | 13 | 12 |
| Freddie Mac Pool #Q56599 4.00% 6/1/2048 <sup>(a)</sup>  | 91 | 86 |
| Freddie Mac Pool #ZT2265 4.00% 8/1/2048 <sup>(a)</sup>  | 5429 | 5141 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **253** | American Funds Insurance Series |

---

------

U.S. Government Securities Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** |  |  |
| Freddie Mac Pool #Q58411 4.50% 9/1/2048 <sup>(a)</sup>  | USD165 | $161 |
| Freddie Mac Pool #Q58436 4.50% 9/1/2048 <sup>(a)</sup>  | 78 | 76 |
| Freddie Mac Pool #Q58378 4.50% 9/1/2048 <sup>(a)</sup>  | 56 | 54 |
| Freddie Mac Pool #ZT0522 4.50% 9/1/2048 <sup>(a)</sup>  | 17 | 16 |
| Freddie Mac Pool #QA0284 3.50% 6/1/2049 <sup>(a)</sup>  | 128 | 118 |
| Freddie Mac Pool #QA2748 3.50% 9/1/2049 <sup>(a)</sup>  | 38 | 35 |
| Freddie Mac Pool #RA1463 3.50% 10/1/2049 <sup>(a)</sup>  | 310 | 286 |
| Freddie Mac Pool #RA1580 3.50% 10/1/2049 <sup>(a)</sup>  | 159 | 147 |
| Freddie Mac Pool #RA3384 3.00% 8/1/2050 <sup>(a)</sup>  | 26 | 22 |
| Freddie Mac Pool #RA3576 2.00% 9/1/2050 <sup>(a)</sup>  | 1374 | 1089 |
| Freddie Mac Pool #SD8106 2.00% 11/1/2050 <sup>(a)</sup>  | 1177 | 939 |
| Freddie Mac Pool #RA3987 2.50% 11/1/2050 <sup>(a)</sup>  | 1791 | 1500 |
| Freddie Mac Pool #SD8128 2.00% 2/1/2051 <sup>(a)</sup>  | 32 | 25 |
| Freddie Mac Pool #SD8134 2.00% 3/1/2051 <sup>(a)</sup>  | 53 | 42 |
| Freddie Mac Pool #RA5288 2.00% 5/1/2051 <sup>(a)</sup>  | 2041 | 1641 |
| Freddie Mac Pool #RA5155 2.00% 5/1/2051 <sup>(a)</sup>  | 922 | 730 |
| Freddie Mac Pool #SD7544 3.00% 7/1/2051 <sup>(a)</sup>  | 134 | 119 |
| Freddie Mac Pool #SD0726 2.50% 10/1/2051 <sup>(a)</sup>  | 8362 | 7024 |
| Freddie Mac Pool #QD0910 2.00% 11/1/2051 <sup>(a)</sup>  | 536 | 425 |
| Freddie Mac Pool #RA6406 2.00% 11/1/2051 <sup>(a)</sup>  | 413 | 329 |
| Freddie Mac Pool #SD1385 2.50% 11/1/2051 <sup>(a)</sup>  | 440 | 370 |
| Freddie Mac Pool #QD5035 2.00% 1/1/2052 <sup>(a)</sup>  | 1340 | 1062 |
| Freddie Mac Pool #SD7552 2.50% 1/1/2052 <sup>(a)</sup>  | 272 | 229 |
| Freddie Mac Pool #SD0813 3.00% 1/1/2052 <sup>(a)</sup>  | 128 | 113 |
| Freddie Mac Pool #QD7087 2.00% 2/1/2052 <sup>(a)</sup>  | 1286 | 1019 |
| Freddie Mac Pool #QD7967 2.00% 2/1/2052 <sup>(a)</sup>  | 298 | 236 |
| Freddie Mac Pool #SD0873 3.50% 2/1/2052 <sup>(a)</sup>  | 10995 | 10081 |
| Freddie Mac Pool #QD7089 3.50% 2/1/2052 <sup>(a)</sup>  | 149 | 135 |
| Freddie Mac Pool #SD5745 2.00% 3/1/2052 <sup>(a)</sup>  | 338 | 268 |
| Freddie Mac Pool #QD9477 4.00% 4/1/2052 <sup>(a)</sup>  | 348 | 324 |
| Freddie Mac Pool #8D0226 2.547% 5/1/2052 <sup>(a)(d)</sup>  | 424 | 389 |
| Freddie Mac Pool #SD8213 3.00% 5/1/2052 <sup>(a)</sup>  | 7787 | 6755 |
| Freddie Mac Pool #SD8225 3.00% 7/1/2052 <sup>(a)</sup>  | 3221 | 2793 |
| Freddie Mac Pool #SD4554 4.00% 8/1/2052 <sup>(a)</sup>  | 139 | 129 |
| Freddie Mac Pool #QE8579 4.50% 8/1/2052 <sup>(a)</sup>  | 182 | 174 |
| Freddie Mac Pool #QE8282 5.00% 8/1/2052 <sup>(a)</sup>  | 787 | 776 |
| Freddie Mac Pool #QE7647 5.00% 8/1/2052 <sup>(a)</sup>  | 46 | 46 |
| Freddie Mac Pool #SD1496 5.00% 8/1/2052 <sup>(a)</sup>  | 39 | 38 |
| Freddie Mac Pool #QF0212 4.50% 9/1/2052 <sup>(a)</sup>  | 834 | 800 |
| Freddie Mac Pool #QE9497 4.50% 9/1/2052 <sup>(a)</sup>  | 210 | 201 |
| Freddie Mac Pool #SD1608 4.50% 9/1/2052 <sup>(a)</sup>  | 122 | 117 |
| Freddie Mac Pool #RA7938 5.00% 9/1/2052 <sup>(a)</sup>  | 9439 | 9298 |
| Freddie Mac Pool #SD8256 4.00% 10/1/2052 <sup>(a)</sup>  | 1376 | 1283 |
| Freddie Mac Pool #SD3782 4.50% 10/1/2052 <sup>(a)</sup>  | 3197 | 3066 |
| Freddie Mac Pool #SD8257 4.50% 10/1/2052 <sup>(a)</sup>  | 3089 | 2962 |
| Freddie Mac Pool #SD2465 4.50% 10/1/2052 <sup>(a)</sup>  | 82 | 78 |
| Freddie Mac Pool #SD1895 4.50% 11/1/2052 <sup>(a)</sup>  | 999 | 976 |
| Freddie Mac Pool #QF2560 4.50% 11/1/2052 <sup>(a)</sup>  | 957 | 920 |
| Freddie Mac Pool #SD2948 5.50% 11/1/2052 <sup>(a)</sup>  | 1908 | 1915 |
| Freddie Mac Pool #SD8281 6.50% 12/1/2052 <sup>(a)</sup>  | 4227 | 4396 |
| Freddie Mac Pool #SD8287 4.50% 1/1/2053 <sup>(a)</sup>  | 14 | 13 |
| Freddie Mac Pool #QF8523 4.00% 2/1/2053 <sup>(a)</sup>  | 760 | 708 |
| Freddie Mac Pool #SD8305 4.00% 3/1/2053 <sup>(a)</sup>  | 764 | 711 |
| Freddie Mac Pool #SD8316 5.50% 4/1/2053 <sup>(a)</sup>  | 861 | 863 |
| Freddie Mac Pool #QG1653 6.00% 4/1/2053 <sup>(a)</sup>  | 804 | 819 |
| Freddie Mac Pool #QG0259 6.00% 4/1/2053 <sup>(a)</sup>  | 434 | 443 |
| Freddie Mac Pool #RA8647 4.50% 5/1/2053 <sup>(a)</sup>  | 83 | 80 |
| Freddie Mac Pool #SD8324 5.50% 5/1/2053 <sup>(a)</sup>  | 768 | 769 |
| Freddie Mac Pool #SD3369 5.50% 5/1/2053 <sup>(a)</sup>  | 502 | 503 |
| Freddie Mac Pool #SD8325 6.00% 5/1/2053 <sup>(a)</sup>  | 3733 | 3803 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **254** |

---

------

U.S. Government Securities Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** |  |  |
| Freddie Mac Pool #QG3763 6.00% 5/1/2053 <sup>(a)</sup>  | USD1,731 | $1765 |
| Freddie Mac Pool #SD2979 6.50% 5/1/2053 <sup>(a)</sup>  | 257 | 268 |
| Freddie Mac Pool #SD8331 5.50% 6/1/2053 <sup>(a)</sup>  | 1455 | 1458 |
| Freddie Mac Pool #SD8332 6.00% 6/1/2053 <sup>(a)</sup>  | 14538 | 14809 |
| Freddie Mac Pool #SD3175 6.00% 6/1/2053 <sup>(a)</sup>  | 3775 | 3843 |
| Freddie Mac Pool #SD3083 6.00% 6/1/2053 <sup>(a)</sup>  | 1904 | 1938 |
| Freddie Mac Pool #QG5227 6.00% 6/1/2053 <sup>(a)</sup>  | 803 | 818 |
| Freddie Mac Pool #RA9279 6.00% 6/1/2053 <sup>(a)</sup>  | 403 | 413 |
| Freddie Mac Pool #RA9283 6.00% 6/1/2053 <sup>(a)</sup>  | 348 | 356 |
| Freddie Mac Pool #RA9281 6.00% 6/1/2053 <sup>(a)</sup>  | 247 | 253 |
| Freddie Mac Pool #RA9284 6.00% 6/1/2053 <sup>(a)</sup>  | 194 | 200 |
| Freddie Mac Pool #RA9294 6.50% 6/1/2053 <sup>(a)</sup>  | 1992 | 2073 |
| Freddie Mac Pool #RA9292 6.50% 6/1/2053 <sup>(a)</sup>  | 1727 | 1797 |
| Freddie Mac Pool #RA9288 6.50% 6/1/2053 <sup>(a)</sup>  | 1668 | 1743 |
| Freddie Mac Pool #RA9289 6.50% 6/1/2053 <sup>(a)</sup>  | 1623 | 1695 |
| Freddie Mac Pool #RA9287 6.50% 6/1/2053 <sup>(a)</sup>  | 1143 | 1196 |
| Freddie Mac Pool #RA9290 6.50% 6/1/2053 <sup>(a)</sup>  | 874 | 912 |
| Freddie Mac Pool #RA9291 6.50% 6/1/2053 <sup>(a)</sup>  | 550 | 570 |
| Freddie Mac Pool #RA9295 6.50% 6/1/2053 <sup>(a)</sup>  | 482 | 510 |
| Freddie Mac Pool #SD8342 5.50% 7/1/2053 <sup>(a)</sup>  | 16933 | 16977 |
| Freddie Mac Pool #SD3386 5.50% 7/1/2053 <sup>(a)</sup>  | 617 | 618 |
| Freddie Mac Pool #SD8343 6.00% 7/1/2053 <sup>(a)</sup>  | 18216 | 18553 |
| Freddie Mac Pool #SD8350 6.00% 8/1/2053 <sup>(a)</sup>  | 19987 | 20355 |
| Freddie Mac Pool #SD8362 5.50% 9/1/2053 <sup>(a)</sup>  | 725 | 726 |
| Freddie Mac Pool #SD3857 6.00% 9/1/2053 <sup>(a)</sup>  | 39176 | 39944 |
| Freddie Mac Pool #RA9857 6.00% 9/1/2053 <sup>(a)</sup>  | 2110 | 2150 |
| Freddie Mac Pool #SD3825 6.50% 9/1/2053 <sup>(a)</sup>  | 87 | 90 |
| Freddie Mac Pool #SD8366 5.00% 10/1/2053 <sup>(a)</sup>  | 3281 | 3228 |
| Freddie Mac Pool #SD4053 6.00% 10/1/2053 <sup>(a)</sup>  | 4713 | 4800 |
| Freddie Mac Pool #SD8370 4.50% 11/1/2053 <sup>(a)</sup>  | 711 | 681 |
| Freddie Mac Pool #SD8372 5.50% 11/1/2053 <sup>(a)</sup>  | 3169 | 3177 |
| Freddie Mac Pool #SD4318 6.50% 11/1/2053 <sup>(a)</sup>  | 10396 | 10814 |
| Freddie Mac Pool #SD8386 7.00% 12/1/2053 <sup>(a)</sup>  | 576 | 608 |
| Freddie Mac Pool #SD8395 5.50% 1/1/2054 <sup>(a)</sup>  | 1962 | 1964 |
| Freddie Mac Pool #RJ0854 6.50% 1/1/2054 <sup>(a)</sup>  | 381 | 395 |
| Freddie Mac Pool #QI0100 4.00% 2/1/2054 <sup>(a)</sup>  | 159 | 148 |
| Freddie Mac Pool #SD8401 5.50% 2/1/2054 <sup>(a)</sup>  | 944 | 945 |
| Freddie Mac Pool #SD4894 6.00% 2/1/2054 <sup>(a)</sup>  | 4108 | 4205 |
| Freddie Mac Pool #SD4975 6.00% 2/1/2054 <sup>(a)</sup>  | 209 | 213 |
| Freddie Mac Pool #SD8408 5.50% 3/1/2054 <sup>(a)</sup>  | 502 | 503 |
| Freddie Mac Pool #SD8425 4.00% 4/1/2054 <sup>(a)</sup>  | 515 | 480 |
| Freddie Mac Pool #RJ1216 5.50% 4/1/2054 <sup>(a)</sup>  | 576 | 580 |
| Freddie Mac Pool #RJ1215 5.50% 4/1/2054 <sup>(a)</sup>  | 100 | 101 |
| Freddie Mac Pool #QI2895 6.00% 4/1/2054 <sup>(a)</sup>  | 494 | 506 |
| Freddie Mac Pool #RJ1448 5.50% 5/1/2054 <sup>(a)</sup>  | 481 | 482 |
| Freddie Mac Pool #SD8432 6.00% 5/1/2054 <sup>(a)</sup>  | 77 | 79 |
| Freddie Mac Pool #SD5404 6.50% 5/1/2054 <sup>(a)</sup>  | 2443 | 2544 |
| Freddie Mac Pool #RJ1535 6.50% 5/1/2054 <sup>(a)</sup>  | 1230 | 1282 |
| Freddie Mac Pool #RJ1779 6.00% 6/1/2054 <sup>(a)</sup>  | 11851 | 12146 |
| Freddie Mac Pool #SD8439 6.00% 6/1/2054 <sup>(a)</sup>  | 1 | 1 |
| Freddie Mac Pool #RJ1792 6.50% 6/1/2054 <sup>(a)</sup>  | 2802 | 2926 |
| Freddie Mac Pool #RJ1726 6.50% 6/1/2054 <sup>(a)</sup>  | 1068 | 1112 |
| Freddie Mac Pool #RJ1725 6.50% 6/1/2054 <sup>(a)</sup>  | 651 | 680 |
| Freddie Mac Pool #SD5949 6.00% 7/1/2054 <sup>(a)</sup>  | 8348 | 8505 |
| Freddie Mac Pool #QI8874 6.00% 7/1/2054 <sup>(a)</sup>  | 3103 | 3161 |
| Freddie Mac Pool #SD5813 6.00% 7/1/2054 <sup>(a)</sup>  | 246 | 252 |
| Freddie Mac Pool #RJ1986 6.50% 7/1/2054 <sup>(a)</sup>  | 6989 | 7236 |
| Freddie Mac Pool #SD6286 5.50% 8/1/2054 <sup>(a)</sup>  | 4177 | 4207 |
| Freddie Mac Pool #SD8453 5.50% 8/1/2054 <sup>(a)</sup>  | 1001 | 1002 |
| Freddie Mac Pool #RJ2210 6.00% 8/1/2054 <sup>(a)</sup>  | 3261 | 3323 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **255** | American Funds Insurance Series |

---

------

U.S. Government Securities Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** |  |  |
| Freddie Mac Pool #RJ2216 6.00% 8/1/2054 <sup>(a)</sup>  | USD1,501 | $1530 |
| Freddie Mac Pool #SD6029 6.00% 8/1/2054 <sup>(a)</sup>  | 150 | 154 |
| Freddie Mac Pool #SD8454 6.00% 8/1/2054 <sup>(a)</sup>  | 91 | 92 |
| Freddie Mac Pool #RJ2222 6.50% 8/1/2054 <sup>(a)</sup>  | 3944 | 4108 |
| Freddie Mac Pool #QJ4811 5.50% 9/1/2054 <sup>(a)</sup>  | 679 | 679 |
| Freddie Mac Pool #RJ2314 6.00% 9/1/2054 <sup>(a)</sup>  | 504 | 513 |
| Freddie Mac Pool #RJ2312 6.00% 9/1/2054 <sup>(a)</sup>  | 272 | 279 |
| Freddie Mac Pool #RJ2308 6.00% 9/1/2054 <sup>(a)</sup>  | 257 | 264 |
| Freddie Mac Pool #RJ2306 6.00% 9/1/2054 <sup>(a)</sup>  | 238 | 244 |
| Freddie Mac Pool #RJ2309 6.00% 9/1/2054 <sup>(a)</sup>  | 152 | 155 |
| Freddie Mac Pool #SD6288 6.50% 9/1/2054 <sup>(a)</sup>  | 5032 | 5240 |
| Freddie Mac Pool #SD8464 6.50% 9/1/2054 <sup>(a)</sup>  | 1840 | 1902 |
| Freddie Mac Pool #SD8469 5.50% 10/1/2054 <sup>(a)</sup>  | 4 | 4 |
| Freddie Mac Pool #SD8471 6.50% 10/1/2054 <sup>(a)</sup>  | 46 | 48 |
| Freddie Mac Pool #SD8475 5.50% 11/1/2054 <sup>(a)</sup>  | 408 | 408 |
| Freddie Mac Pool #SD8493 5.50% 12/1/2054 <sup>(a)</sup>  | 3 | 3 |
| Freddie Mac Pool #RJ3240 6.00% 1/1/2055 <sup>(a)</sup>  | 3846 | 3917 |
| Freddie Mac Pool #RJ3301 6.00% 1/1/2055 <sup>(a)</sup>  | 1569 | 1610 |
| Freddie Mac Pool #RJ3305 6.00% 1/1/2055 <sup>(a)</sup>  | 1098 | 1124 |
| Freddie Mac Pool #SD8507 6.00% 2/1/2055 <sup>(a)</sup>  | 484 | 492 |
| Freddie Mac Pool #SD8515 5.50% 3/1/2055 <sup>(a)</sup>  | 6 | 6 |
| Freddie Mac Pool #SD8516 6.00% 3/1/2055 <sup>(a)</sup>  | 82 | 83 |
| Freddie Mac Pool #SD8517 6.50% 3/1/2055 <sup>(a)</sup>  | 12305 | 12716 |
| Freddie Mac Pool #SD8525 6.00% 4/1/2055 <sup>(a)</sup>  | 450 | 458 |
| Freddie Mac Pool #SD8534 6.00% 5/1/2055 <sup>(a)</sup>  | 118 | 120 |
| Freddie Mac Pool #RQ0012 5.00% 6/1/2055 <sup>(a)</sup>  | 667 | 654 |
| Freddie Mac, Series K751, Class A2, Multi Family, 4.412% 3/25/2030 <sup>(a)</sup>  | 3875 | 3916 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-1, Class HA, 3.00% 1/25/2056 <sup>(a)(d)</sup>  | 3500 | 3289 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-3, Class MT, 3.00% 7/25/2056 <sup>(a)</sup>  | 721 | 618 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-3, Class HT, 3.25% 7/25/2056 <sup>(a)</sup>  | 291 | 257 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-2, Class MA, 3.00% 8/25/2056 <sup>(a)</sup>  | 3587 | 3351 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-2, Class HA, 3.00% 8/25/2056 <sup>(a)(d)</sup>  | 3203 | 3004 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2018-1, Class HT, 3.00% 5/25/2057 <sup>(a)</sup>  | 786 | 672 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-4, Class HT, 3.25% 6/25/2057 <sup>(a)(d)</sup>  | 1102 | 994 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2018-3, Class MA, 3.50% 8/25/2057 <sup>(a)</sup>  | 347 | 334 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2018-2, Class MT, 3.50% 11/25/2057 <sup>(a)</sup>  | 3476 | 3118 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-1, Class MA, 3.50% 7/25/2058 <sup>(a)</sup>  | 416 | 400 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-2, Class MA, 3.50% 8/25/2058 <sup>(a)</sup>  | 1558 | 1490 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-2, Class MT, 3.50% 8/26/2058 <sup>(a)</sup>  | 612 | 546 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-3, Class MT, 3.50% 10/25/2058 <sup>(a)</sup>  | 328 | 294 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-4, Class MA, 3.00% 2/25/2059 <sup>(a)</sup>  | 1346 | 1248 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2018-2, Class A1, 3.50% 11/25/2028 <sup>(a)</sup>  | 13783 | 13404 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2019-3, Class A1C, 2.75% 11/25/2029 <sup>(a)</sup>  | 3488 | 3313 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2020-1, Class A1D, 2.00% 7/25/2030 <sup>(a)</sup>  | 997 | 918 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2020-1, Class A2D, 2.00% 7/25/2030 <sup>(a)</sup>  | 435 | 383 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2022-1, Class A1, 3.50% 5/25/2032 <sup>(a)</sup>  | 3393 | 3264 |
| Government National Mortgage Assn. 3.50% 7/1/2055 <sup>(a)(e)</sup>  | 30 | 27 |
| Government National Mortgage Assn. 5.00% 7/1/2055 <sup>(a)(e)</sup>  | 5 | 5 |
| Government National Mortgage Assn. 5.50% 7/1/2055 <sup>(a)(e)</sup>  | 1905 | 1908 |
| Government National Mortgage Assn. Pool #782365 6.00% 7/15/2038 <sup>(a)</sup>  | 59 | 62 |
| Government National Mortgage Assn. Pool #700778 5.50% 10/15/2038 <sup>(a)</sup>  | 11 | 11 |
| Government National Mortgage Assn. Pool #004269 6.50% 10/20/2038 <sup>(a)</sup>  | 121 | 128 |
| Government National Mortgage Assn. Pool #698668 5.50% 11/15/2038 <sup>(a)</sup>  | 26 | 26 |
| Government National Mortgage Assn. Pool #698406 5.00% 7/15/2039 <sup>(a)</sup>  | 133 | 135 |
| Government National Mortgage Assn. Pool #783690 6.00% 9/20/2039 <sup>(a)</sup>  | 63 | 67 |
| Government National Mortgage Assn. Pool #783689 5.50% 2/20/2040 <sup>(a)</sup>  | 1745 | 1792 |
| Government National Mortgage Assn. Pool #783688 5.00% 6/20/2041 <sup>(a)</sup>  | 625 | 629 |
| Government National Mortgage Assn. Pool #783687 4.50% 12/20/2041 <sup>(a)</sup>  | 427 | 415 |
| Government National Mortgage Assn. Pool #MA0533 3.00% 11/20/2042 <sup>(a)</sup>  | 15 | 13 |
| Government National Mortgage Assn. Pool #MA6994 2.00% 11/20/2050 <sup>(a)</sup>  | 768 | 626 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **256** |

---

------

U.S. Government Securities Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** |  |  |
| Government National Mortgage Assn. Pool #MA7051 2.00% 12/20/2050 <sup>(a)</sup>  | USD673 | $548 |
| Government National Mortgage Assn. Pool #785575 2.50% 8/20/2051 <sup>(a)</sup>  | 4506 | 3773 |
| Government National Mortgage Assn. Pool #MA7534 2.50% 8/20/2051 <sup>(a)</sup>  | 1955 | 1663 |
| Government National Mortgage Assn. Pool #785659 2.50% 10/20/2051 <sup>(a)</sup>  | 622 | 520 |
| Government National Mortgage Assn. Pool #786706 2.50% 12/20/2051 <sup>(a)</sup>  | 3517 | 2957 |
| Government National Mortgage Assn. Pool #MA7827 2.50% 1/20/2052 <sup>(a)</sup>  | 82 | 69 |
| Government National Mortgage Assn. Pool #786502 2.50% 2/20/2052 <sup>(a)</sup>  | 3014 | 2549 |
| Government National Mortgage Assn. Pool #786647 2.50% 3/20/2052 <sup>(a)</sup>  | 1549 | 1312 |
| Government National Mortgage Assn. Pool #786701 2.50% 3/20/2052 <sup>(a)</sup>  | 943 | 797 |
| Government National Mortgage Assn. Pool #785998 2.50% 3/20/2052 <sup>(a)</sup>  | 739 | 619 |
| Government National Mortgage Assn. Pool #MA7937 3.00% 3/20/2052 <sup>(a)</sup>  | 236 | 209 |
| Government National Mortgage Assn. Pool #MA7987 2.50% 4/20/2052 <sup>(a)</sup>  | 871 | 741 |
| Government National Mortgage Assn. Pool #MA7988 3.00% 4/20/2052 <sup>(a)</sup>  | 185 | 164 |
| Government National Mortgage Assn. Pool #MA8044 3.50% 5/20/2052 <sup>(a)</sup>  | 2113 | 1929 |
| Government National Mortgage Assn. Pool #MA8199 3.50% 8/20/2052 <sup>(a)</sup>  | 655 | 598 |
| Government National Mortgage Assn. Pool #MA8266 3.50% 9/20/2052 <sup>(a)</sup>  | 3991 | 3641 |
| Government National Mortgage Assn. Pool #MA8346 4.00% 10/20/2052 <sup>(a)</sup>  | 307 | 288 |
| Government National Mortgage Assn. Pool #MA8567 4.00% 1/20/2053 <sup>(a)</sup>  | 419 | 392 |
| Government National Mortgage Assn. Pool #MA8723 4.00% 3/20/2053 <sup>(a)</sup>  | 208 | 194 |
| Government National Mortgage Assn. Pool #MA8947 5.00% 6/20/2053 <sup>(a)</sup>  | 53 | 52 |
| Government National Mortgage Assn. Pool #MA9015 4.50% 7/20/2053 <sup>(a)</sup>  | 4289 | 4126 |
| Government National Mortgage Assn. Pool #MA9104 4.50% 8/20/2053 <sup>(a)</sup>  | 2759 | 2651 |
| Government National Mortgage Assn. Pool #MA9169 4.50% 9/20/2053 <sup>(a)</sup>  | 1153 | 1108 |
| Government National Mortgage Assn. Pool #MA9776 4.00% 7/20/2054 <sup>(a)</sup>  | 4418 | 4114 |
| Government National Mortgage Assn. Pool #MB0023 4.00% 11/20/2054 <sup>(a)</sup>  | 5868 | 5460 |
| Government National Mortgage Assn. Pool #MB0024 4.50% 11/20/2054 <sup>(a)</sup>  | 1402 | 1343 |
| Government National Mortgage Assn. Pool #MB0089 4.00% 12/20/2054 <sup>(a)</sup>  | 4240 | 3946 |
| Government National Mortgage Assn. Pool #MB0144 4.00% 1/20/2055 <sup>(a)</sup>  | 436 | 405 |
| Government National Mortgage Assn., Series 2021-2, Class AH, 1.50% 6/16/2063 <sup>(a)</sup>  | 424 | 310 |
| Uniform Mortgage-Backed Security 2.00% 7/1/2040 <sup>(a)(e)</sup>  | 1115 | 1019 |
| Uniform Mortgage-Backed Security 4.00% 7/1/2040 <sup>(a)(e)</sup>  | 920 | 900 |
| Uniform Mortgage-Backed Security 5.00% 7/1/2040 <sup>(a)(e)</sup>  | 780 | 786 |
| Uniform Mortgage-Backed Security 2.50% 7/1/2055 <sup>(a)(e)</sup>  | 8642 | 7167 |
| Uniform Mortgage-Backed Security 3.50% 7/1/2055 <sup>(a)(e)</sup>  | 25486 | 22949 |
| Uniform Mortgage-Backed Security 4.00% 7/1/2055 <sup>(a)(e)</sup>  | 1272 | 1183 |
| Uniform Mortgage-Backed Security 4.50% 7/1/2055 <sup>(a)(e)</sup>  | 432 | 413 |
| Uniform Mortgage-Backed Security 5.00% 7/1/2055 <sup>(a)(e)</sup>  | 437 | 429 |
| Uniform Mortgage-Backed Security 6.00% 7/1/2055 <sup>(a)(e)</sup>  | 3295 | 3349 |
| Uniform Mortgage-Backed Security 7.00% 7/1/2055 <sup>(a)(e)</sup>  | 12685 | 13356 |
| Uniform Mortgage-Backed Security 2.00% 8/1/2055 <sup>(a)(e)</sup>  | 6583 | 5215 |
| Uniform Mortgage-Backed Security 3.00% 8/1/2055 <sup>(a)(e)</sup>  | 10488 | 9074 |
| Uniform Mortgage-Backed Security 4.00% 8/1/2055 <sup>(a)(e)</sup>  | 2690 | 2501 |
| Uniform Mortgage-Backed Security 6.50% 8/1/2055 <sup>(a)(e)</sup>  | 50461 | 52030 |
| **Total mortgage-backed obligations** |  | 844043 |
| **U.S. Treasury bonds & notes 37.75%** | **U.S. Treasury bonds & notes 37.75%** | **U.S. Treasury bonds & notes 37.75%** |
| **U.S. Treasury 33.19%** |  |  |
| U.S. Treasury 3.125% 8/15/2025  | 390 | 389 |
| U.S. Treasury 3.00% 10/31/2025  | 1395 | 1390 |
| U.S. Treasury 4.25% 12/31/2025  | 17685 | 17687 |
| U.S. Treasury 4.25% 1/31/2026  | 5535 | 5536 |
| U.S. Treasury 4.625% 2/28/2026  | 9375 | 9402 |
| U.S. Treasury 4.625% 3/15/2026  | 11050 | 11090 |
| U.S. Treasury 4.50% 3/31/2026  | 1435 | 1439 |
| U.S. Treasury 4.875% 4/30/2026  | 35525 | 35754 |
| U.S. Treasury 0.875% 6/30/2026  | 2065 | 2002 |
| U.S. Treasury 4.50% 7/15/2026  | 10366 | 10422 |
| U.S. Treasury 4.375% 7/31/2026  | 25795 | 25902 |
| U.S. Treasury 4.625% 9/15/2026  | 10209 | 10293 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **257** | American Funds Insurance Series |

---

------

U.S. Government Securities Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **U.S. Treasury bonds & notes (continued)** | **U.S. Treasury bonds & notes (continued)** | **U.S. Treasury bonds & notes (continued)** |
| **U.S. Treasury (continued)** |  |  |
| U.S. Treasury 3.50% 9/30/2026  | USD11,100 | $11044 |
| U.S. Treasury 3.875% 3/31/2027  | 23000 | 23039 |
| U.S. Treasury 4.50% 4/15/2027  | 30000 | 30375 |
| U.S. Treasury 0.50% 4/30/2027  | 1250 | 1179 |
| U.S. Treasury 2.625% 5/31/2027  | 2290 | 2243 |
| U.S. Treasury 3.75% 6/30/2027  | 33220 | 33242 |
| U.S. Treasury 3.75% 8/15/2027  | 5043 | 5046 |
| U.S. Treasury 4.25% 2/15/2028  | 48655 | 49313 |
| U.S. Treasury 3.625% 5/31/2028  | 14850 | 14819 |
| U.S. Treasury 1.25% 6/30/2028  | 3325 | 3096 |
| U.S. Treasury 4.00% 6/30/2028  | 6907 | 6966 |
| U.S. Treasury 1.00% 7/31/2028  | 970 | 894 |
| U.S. Treasury 4.125% 7/31/2028  | 17685 | 17898 |
| U.S. Treasury 2.625% 2/15/2029  | 3270 | 3149 |
| U.S. Treasury 4.50% 5/31/2029  | 825 | 848 |
| U.S. Treasury 2.625% 7/31/2029  | 9309 | 8917 |
| U.S. Treasury 4.00% 7/31/2029  | 15070 | 15212 |
| U.S. Treasury 4.125% 10/31/2029  | 4800 | 4869 |
| U.S. Treasury 4.125% 11/30/2029  | 10200 | 10350 |
| U.S. Treasury 4.375% 12/31/2029  | 23475 | 24057 |
| U.S. Treasury 4.00% 2/28/2030  | 11270 | 11380 |
| U.S. Treasury 4.00% 3/31/2030  | 15000 | 15140 |
| U.S. Treasury 3.75% 6/30/2030  | 17030 | 16986 |
| U.S. Treasury 4.625% 9/30/2030  | 1290 | 1338 |
| U.S. Treasury 4.875% 10/31/2030  | 625 | 656 |
| U.S. Treasury 4.25% 6/30/2031  | 9625 | 9801 |
| U.S. Treasury 4.125% 11/30/2031  | 3240 | 3272 |
| U.S. Treasury 4.125% 2/29/2032  | 9305 | 9390 |
| U.S. Treasury 4.125% 3/31/2032  | 3000 | 3026 |
| U.S. Treasury 2.75% 8/15/2032  | 8095 | 7467 |
| U.S. Treasury 3.875% 8/15/2033  | 3180 | 3133 |
| U.S. Treasury 4.375% 5/15/2034  | 1687 | 1714 |
| U.S. Treasury 3.875% 8/15/2034  | 1970 | 1924 |
| U.S. Treasury 4.25% 11/15/2034  | 1790 | 1796 |
| U.S. Treasury 4.625% 2/15/2035  | 5000 | 5159 |
| U.S. Treasury 4.50% 8/15/2039 <sup>(f)</sup>  | 13655 | 13601 |
| U.S. Treasury 4.625% 2/15/2040  | 90 | 90 |
| U.S. Treasury 1.375% 11/15/2040  | 1945 | 1239 |
| U.S. Treasury 3.875% 5/15/2043  | 820 | 732 |
| U.S. Treasury 4.375% 8/15/2043  | 40 | 38 |
| U.S. Treasury 4.50% 2/15/2044  | 3780 | 3654 |
| U.S. Treasury 4.125% 8/15/2044 <sup>(f)</sup>  | 11760 | 10773 |
| U.S. Treasury 2.50% 2/15/2045  | 4850 | 3415 |
| U.S. Treasury 5.00% 5/15/2045  | 7855 | 8068 |
| U.S. Treasury 2.50% 2/15/2046  | 3900 | 2703 |
| U.S. Treasury 2.50% 5/15/2046  | 1585 | 1095 |
| U.S. Treasury 2.875% 11/15/2046  | 2700 | 1988 |
| U.S. Treasury 3.00% 8/15/2048  | 750 | 554 |
| U.S. Treasury 2.375% 11/15/2049  | 1435 | 923 |
| U.S. Treasury 1.25% 5/15/2050  | 14825 | 7122 |
| U.S. Treasury 1.375% 8/15/2050  | 4330 | 2135 |
| U.S. Treasury 1.625% 11/15/2050 <sup>(f)</sup>  | 26165 | 13785 |
| U.S. Treasury 1.875% 2/15/2051  | 5892 | 3310 |
| U.S. Treasury 2.375% 5/15/2051  | 6280 | 3985 |
| U.S. Treasury 2.00% 8/15/2051  | 5226 | 3012 |
| U.S. Treasury 1.875% 11/15/2051  | 3164 | 1760 |
| U.S. Treasury 3.00% 8/15/2052  | 895 | 646 |
| U.S. Treasury 4.00% 11/15/2052  | 1849 | 1618 |
| U.S. Treasury 4.75% 11/15/2053  | 205 | 203 |
| U.S. Treasury 4.25% 2/15/2054 <sup>(f)</sup>  | 11130 | 10157 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **258** |

---

------

U.S. Government Securities Fund (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **U.S. Treasury bonds & notes (continued)** | **U.S. Treasury bonds & notes (continued)** | **U.S. Treasury bonds & notes (continued)** |
| **U.S. Treasury (continued)** |  |  |
| U.S. Treasury 4.625% 5/15/2054  | USD5,610 | $5448 |
| U.S. Treasury 4.25% 8/15/2054  | 3825 | 3493 |
| U.S. Treasury 4.625% 2/15/2055  | 7370 | 7174 |
| U.S. Treasury, interest only, 0% 11/15/2040 <sup>(f)</sup>  | 1110 | 526 |
|  |  | 603291 |
| **U.S. Treasury inflation-protected securities 4.56%** |  |  |
| U.S. Treasury Inflation-Protected Security 0.375% 7/15/2025 <sup>(g)</sup>  | 2398 | 2398 |
| U.S. Treasury Inflation-Protected Security 0.125% 10/15/2026 <sup>(g)</sup>  | 9477 | 9371 |
| U.S. Treasury Inflation-Protected Security 0.125% 4/15/2027 <sup>(g)</sup>  | 2916 | 2856 |
| U.S. Treasury Inflation-Protected Security 1.625% 10/15/2029 <sup>(g)</sup>  | 36770 | 37226 |
| U.S. Treasury Inflation-Protected Security 0.125% 7/15/2031 <sup>(g)</sup>  | 1077 | 991 |
| U.S. Treasury Inflation-Protected Security 0.125% 1/15/2032 <sup>(g)</sup>  | 3349 | 3036 |
| U.S. Treasury Inflation-Protected Security 1.875% 7/15/2034 <sup>(g)</sup>  | 7268 | 7277 |
| U.S. Treasury Inflation-Protected Security 2.125% 2/15/2041 <sup>(g)</sup>  | 139 | 136 |
| U.S. Treasury Inflation-Protected Security 0.75% 2/15/2042 <sup>(f)(g)</sup>  | 1483 | 1152 |
| U.S. Treasury Inflation-Protected Security 0.625% 2/15/2043 <sup>(g)</sup>  | 1730 | 1286 |
| U.S. Treasury Inflation-Protected Security 1.00% 2/15/2049 <sup>(g)</sup>  | 319 | 231 |
| U.S. Treasury Inflation-Protected Security 0.25% 2/15/2050 <sup>(g)</sup>  | 363 | 211 |
| U.S. Treasury Inflation-Protected Security 0.125% 2/15/2051 <sup>(g)</sup>  | 142 | 77 |
| U.S. Treasury Inflation-Protected Security 1.50% 2/15/2053 <sup>(g)</sup>  | 802 | 636 |
| U.S. Treasury Inflation-Protected Security 2.125% 2/15/2054 <sup>(g)</sup>  | 3736 | 3421 |
| U.S. Treasury Inflation-Protected Security 2.375% 2/15/2055 <sup>(g)</sup>  | 12921 | 12496 |
|  |  | 82801 |
| **Total U.S. Treasury bonds & notes** |  | 686092 |
| **Federal agency bonds & notes 2.82%** | **Federal agency bonds & notes 2.82%** | **Federal agency bonds & notes 2.82%** |
| Export-Import Bank of the United States-Guaranteed, Ethiopian Leasing 2012, LLC 2.646% 5/12/2026  | 91 | 90 |
| Fannie Mae 7.125% 1/15/2030  | 2000 | 2273 |
| Federal Home Loan Bank 3.25% 11/16/2028  | 6500 | 6416 |
| Federal Home Loan Bank 5.50% 7/15/2036  | 300 | 327 |
| Private Export Funding Corp. 1.40% 7/15/2028  | 3000 | 2794 |
| Tennessee Valley Authority 2.875% 2/1/2027  | 5000 | 4930 |
| Tennessee Valley Authority 4.875% 5/15/2035  | 2445 | 2502 |
| Tennessee Valley Authority 4.65% 6/15/2035  | 1780 | 1809 |
| Tennessee Valley Authority 5.88% 4/1/2036  | 875 | 969 |
| Tennessee Valley Authority, Series A, 4.625% 9/15/2060  | 250 | 218 |
| Tennessee Valley Authority, Southaven Combined Cycle Generation, LLC, 3.846% 8/15/2033  | 695 | 666 |
| U.S. Agency for International Development, Morocco (Kingdom of) 7.55% 7/15/2026  | 897 | 911 |
| U.S. Department of Housing and Urban Development, Series 2015-A-11, 2.95% 8/1/2025  | 2220 | 2217 |
| U.S. Department of Housing and Urban Development, Series 2015-A-12, 3.10% 8/1/2026  | 2226 | 2198 |
| U.S. Department of Housing and Urban Development, Series 2015-A-13, 3.15% 8/1/2027  | 10250 | 10060 |
| U.S. Department of Housing and Urban Development, Series 2015-A-14, 3.25% 8/1/2028  | 3064 | 3006 |
| U.S. Department of Housing and Urban Development, Series 2015-A-15, 3.35% 8/1/2029  | 2020 | 1971 |
| U.S. Department of Housing and Urban Development, Series 2015-A-16, 3.50% 8/1/2030  | 1793 | 1733 |
| U.S. Department of Housing and Urban Development, Series 2015-A-17, 3.55% 8/1/2031  | 2194 | 2097 |
| U.S. Department of Housing and Urban Development, Series 2015-A-18, 3.60% 8/1/2032  | 2327 | 2187 |
| U.S. Department of Housing and Urban Development, Series 2015-A-19, 3.65% 8/1/2033  | 1639 | 1528 |
| U.S. Department of Housing and Urban Development, Series 2015-A-20, 3.70% 8/1/2034  | 330 | 304 |
|  |  | 51206 |
| **Total bonds, notes & other debt instruments** (cost: $1,613,297,000) |  | 1581341 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **259** | American Funds Insurance Series |

---

------

U.S. Government Securities Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| Short-term securities 16.90% | Weighted<br> average yield<br> at acquisition<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Commercial paper 13.73%** | **Commercial paper 13.73%** | **Commercial paper 13.73%** | **Commercial paper 13.73%** |
| ADP Tax Services, Inc. 7/1/2025 <sup>(c)</sup>  | 4.330<br> %<br>| USD1,757 | $1757 |
| ADP Tax Services, Inc. 7/2/2025 <sup>(c)</sup>  | 4.340 | 5500 | 5499 |
| Alphabet,Inc. 9/23/2025 <sup>(c)</sup>  | 4.340 | 20000 | 19796 |
| Apple, Inc. 8/4/2025 <sup>(c)</sup>  | 4.300 | 11900 | 11850 |
| Apple, Inc. 8/13/2025 <sup>(c)</sup>  | 4.300 | 22500 | 22382 |
| CAFCO, LLC 8/19/2025 <sup>(c)</sup>  | 4.350 | 15300 | 15207 |
| Chariot Funding, LLC 8/25/2025 <sup>(c)</sup>  | 4.370 | 10000 | 9931 |
| Chariot Funding, LLC 9/4/2025 <sup>(c)</sup>  | 4.370 | 7000 | 6943 |
| Chariot Funding, LLC 9/15/2025 <sup>(c)</sup>  | 4.370 | 500 | 495 |
| Cisco Systems, Inc. 8/1/2025 <sup>(c)</sup>  | 4.270 | 10000 | 9962 |
| Cisco Systems, Inc. 8/5/2025 <sup>(c)</sup>  | 4.270 | 10000 | 9957 |
| Coca-Cola Co. 7/17/2025 <sup>(c)</sup>  | 4.310 | 5000 | 4990 |
| Eli Lilly and Co. 7/25/2025 <sup>(c)</sup>  | 4.330 | 8700 | 8674 |
| Johnson & Johnson 7/3/2025 <sup>(c)</sup>  | 4.260 | 22000 | 21992 |
| Komatsu Finance America, Inc. 9/11/2025 <sup>(c)</sup>  | 4.330 | 17400 | 17247 |
| Linde, Inc. 8/27/2025  | 4.300 | 5000 | 4966 |
| LVMH Moet Hennessy Louis Vuitton, Inc. 10/1/2025 <sup>(c)</sup>  | 4.310 | 5000 | 4944 |
| Novartis Finance Corp. 7/7/2025 <sup>(c)</sup>  | 4.320 | 3600 | 3597 |
| Paccar Financial Corp. 7/10/2025  | 4.360 | 8400 | 8390 |
| Paccar Financial Corp. 7/24/2025  | 4.340 | 8150 | 8126 |
| Prudential Funding, LLC 7/2/2025  | 4.340 | 16000 | 15996 |
| Wal-Mart Stores, Inc. 7/7/2025 <sup>(c)</sup>  | 4.323 | 16800 | 16786 |
| Wal-Mart Stores, Inc. 7/14/2025 <sup>(c)</sup>  | 4.310 | 10000 | 9983 |
| Wal-Mart Stores, Inc. 7/21/2025 <sup>(c)</sup>  | 4.310 | 10000 | 9975 |
|  |  |  | 249445 |
| **Bonds & notes of governments & government agencies outside the U.S. 0.27%** | **Bonds & notes of governments & government agencies outside the U.S. 0.27%** | **Bonds & notes of governments & government agencies outside the U.S. 0.27%** | **Bonds & notes of governments & government agencies outside the U.S. 0.27%** |
| Ontario (Province of) 7/18/2025  | 4.360 | 5000 | 4989 |
| **U.S. Treasury bills 0.15%** | **U.S. Treasury bills 0.15%** | **U.S. Treasury bills 0.15%** | **U.S. Treasury bills 0.15%** |
| U.S. Treasury 7/1/2025  | 4.100 | 2700 | 2700 |
| **Federal agency bills & notes 2.75%** | **Federal agency bills & notes 2.75%** | **Federal agency bills & notes 2.75%** | **Federal agency bills & notes 2.75%** |
| Federal Farm Credit Banks 8/7/2025  | 4.230 | 7100 | 7069 |
| Federal Farm Credit Banks 8/27/2025  | 4.220 | 5000 | 4967 |
| Federal Home Loan Bank 7/9/2025  | 4.210 | 8900 | 8892 |
| Federal Home Loan Bank 7/11/2025  | 4.218 | 6000 | 5993 |
| Federal Home Loan Bank 7/25/2025  | 4.204 | 7500 | 7480 |
| Federal Home Loan Bank 8/27/2025  | 4.225 | 10600 | 10529 |
| Federal Home Loan Bank 9/17/2025  | 4.230 | 5000 | 4955 |
| **Total short-term securities** (cost: $307,049,000) | **Total short-term securities** (cost: $307,049,000) | **Total short-term securities** (cost: $307,049,000) | 307019 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **260** |

---

------

U.S. Government Securities Fund (continued)

---

| | |
|:---|:---|
| Options purchased (equity style) 0.01% | Value<br> (000)<br>|
| Options purchased (equity style)\* | $206 |
| **Total options purchased (equity style)** (cost: $626,000) | 206 |
| **Total investment securities 103.92%** (cost: $1,920,972,000) | 1888566 |
| Other assets less liabilities (3.92)% | (71188)<br>|
| **Net assets 100.00%** | $1817378 |

---

<sup>\*</sup>**Options purchased (equity style)**

------

**Options on futures** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Description | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp; Exercise <br>price<br>| &nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Value at <br>6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| **Call** |  |  |  |  |  |
| 3 Month SOFR Futures Options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/12/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD97.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD151,750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $23 |
| 3 Month SOFR Futures Options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1551 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/12/2025 | &nbsp;&nbsp;&nbsp;&nbsp;98.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 387750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29 |
| 3 Month SOFR Futures Options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/12/2025 | &nbsp;&nbsp;&nbsp;&nbsp;96.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42 |
| 3 Month SOFR Futures Options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/12/2025 | &nbsp;&nbsp;&nbsp;&nbsp;97.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19 |
| 3 Month SOFR Futures Options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/12/2025 | &nbsp;&nbsp;&nbsp;&nbsp;97.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11 |
| 3 Month SOFR Futures Options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/12/2025 | &nbsp;&nbsp;&nbsp;&nbsp;98.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $125 |
| **Put** |  |  |  |  |  |
| 10 Year U.S. Treasury Note Futures Options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD111.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $3 |
| 3 Month SOFR Futures Options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/12/2025 | &nbsp;&nbsp;&nbsp;&nbsp;95.69 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 782000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 78 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $81 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $206 |

---

**Futures contracts**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Contracts | Type | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value and <br>unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| 30 Day Federal Funds Futures | Long | 111 | 9/2/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD44,274 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(2)<br>|
| 3 Month SOFR Futures | Long | 2584 | 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 617996 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (302)<br>|
| 3 Month SOFR Futures | Long | 139 | 3/18/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 56 |
| 3 Month SOFR Futures | Long | 3 | 6/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 724 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3)<br>|
| 2 Year U.S. Treasury Note Futures | Long | 3136 | 10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 652362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2220 |
| 5 Year U.S. Treasury Note Futures | Long | 4330 | 10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 471970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5219 |
| 10 Year U.S. Treasury Note Futures | Long | 866 | 9/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 97100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1787 |
| 10 Year Ultra U.S. Treasury Note Futures | Short | 99 | 9/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (11312)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (97)<br>|
| 20 Year U.S. Treasury Bond Futures | Long | 146 | 9/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 591 |
| 30 Year Ultra U.S. Treasury Bond Futures | Long | 10 | 9/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $9479 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **261** | American Funds Insurance Series |

---

------

U.S. Government Securities Fund (continued)

**Swap contracts**

------

**Interest rate swaps**

**Centrally cleared interest rate swaps** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | Receive | Pay | Pay | &nbsp;&nbsp;&nbsp; Expiration <br>date | &nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Value at <br>6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Upfront <br>premium <br>paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(received) <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| Rate | &nbsp;&nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| Rate | &nbsp;&nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| &nbsp;&nbsp;&nbsp; Expiration <br>date | &nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Value at <br>6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Upfront <br>premium <br>paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(received) <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| SOFR | Annual | 3.916% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 7/11/2025 | &nbsp;&nbsp;&nbsp;&nbsp; USD46,800 | &nbsp;&nbsp;&nbsp;&nbsp; $7 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $7 |
| 4.225% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 9/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp; USD27,550 | &nbsp;&nbsp;&nbsp;&nbsp; (11)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (11)<br>|
| SOFR | Annual | 4.63358% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 10/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; USD1,381 | &nbsp;&nbsp;&nbsp;&nbsp; (1)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| 4.2035% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 1/10/2026 | &nbsp;&nbsp;&nbsp;&nbsp; USD11,197 | &nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(b)</sup><br>|
| 4.2045% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 1/10/2026 | &nbsp;&nbsp;&nbsp;&nbsp; USD1,020 | &nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(b)</sup><br>|
| 4.184% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 1/10/2026 | &nbsp;&nbsp;&nbsp;&nbsp; USD11,198 | &nbsp;&nbsp;&nbsp;&nbsp; (2)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (2)<br>|
| 4.27% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 2/16/2026 | &nbsp;&nbsp;&nbsp;&nbsp; USD9,621 | &nbsp;&nbsp;&nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8 |
| 4.265% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 2/16/2026 | &nbsp;&nbsp;&nbsp;&nbsp; USD4,777 | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4 |
| 4.3035% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 2/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp; USD2,874 | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3 |
| 4.2515% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 2/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp; USD2,847 | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2 |
| 4.2675% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 2/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp; USD2,771 | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2 |
| 4.3005% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 2/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp; USD1,989 | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2 |
| 4.288% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 2/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp; USD2,021 | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2 |
| 4.568% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 3/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; USD27,000 | &nbsp;&nbsp;&nbsp;&nbsp; 82 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 82 |
| 4.56% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 3/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; USD27,400 | &nbsp;&nbsp;&nbsp;&nbsp; 82 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 82 |
| 4.6275% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp; USD49,370 | &nbsp;&nbsp;&nbsp;&nbsp; 195 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 195 |
| 4.9005% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 4/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp; USD14,100 | &nbsp;&nbsp;&nbsp;&nbsp; 97 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 97 |
| 4.815% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 5/6/2026 | &nbsp;&nbsp;&nbsp;&nbsp; USD31,500 | &nbsp;&nbsp;&nbsp;&nbsp; 220 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 220 |
| 4.723% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 5/7/2026 | &nbsp;&nbsp;&nbsp;&nbsp; USD30,490 | &nbsp;&nbsp;&nbsp;&nbsp; 191 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 191 |
| 4.659% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 5/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp; USD45,400 | &nbsp;&nbsp;&nbsp;&nbsp; 278 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 278 |
| SOFR | Annual | 4.528% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 6/18/2026 | &nbsp;&nbsp;&nbsp;&nbsp; USD2,700 | &nbsp;&nbsp;&nbsp;&nbsp; (16)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (16)<br>|
| 3.53% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 1/23/2027 | &nbsp;&nbsp;&nbsp;&nbsp; USD7,300 | &nbsp;&nbsp;&nbsp;&nbsp; (9)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (9)<br>|
| 3.5405% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 1/23/2027 | &nbsp;&nbsp;&nbsp;&nbsp; USD12,100 | &nbsp;&nbsp;&nbsp;&nbsp; (13)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (13)<br>|
| 3.535% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 1/23/2027 | &nbsp;&nbsp;&nbsp;&nbsp; USD13,000 | &nbsp;&nbsp;&nbsp;&nbsp; (15)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (15)<br>|
| SOFR | Annual | 4.186% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 2/18/2027 | &nbsp;&nbsp;&nbsp;&nbsp; USD54,150 | &nbsp;&nbsp;&nbsp;&nbsp; (509)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (509)<br>|
| 3.7645% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 2/20/2027 | &nbsp;&nbsp;&nbsp;&nbsp; USD23,600 | &nbsp;&nbsp;&nbsp;&nbsp; 67 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 67 |
| 3.761% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 2/20/2027 | &nbsp;&nbsp;&nbsp;&nbsp; USD11,800 | &nbsp;&nbsp;&nbsp;&nbsp; 33 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 33 |
| 4.5895% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 5/6/2027 | &nbsp;&nbsp;&nbsp;&nbsp; USD22,710 | &nbsp;&nbsp;&nbsp;&nbsp; 429 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 429 |
| SOFR | Annual | 3.62% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 6/30/2027 | &nbsp;&nbsp;&nbsp;&nbsp; USD7,849 | &nbsp;&nbsp;&nbsp;&nbsp; (31)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (31)<br>|
| 3.45% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 2/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; USD12,500 | &nbsp;&nbsp;&nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8 |
| 3.47% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 2/2/2028 | &nbsp;&nbsp;&nbsp;&nbsp; USD11,600 | &nbsp;&nbsp;&nbsp;&nbsp; 13 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 13 |
| 3.6475% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 2/27/2028 | &nbsp;&nbsp;&nbsp;&nbsp; USD19,700 | &nbsp;&nbsp;&nbsp;&nbsp; 172 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 172 |
| SOFR | Annual | 3.528% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 1/29/2030 | &nbsp;&nbsp;&nbsp;&nbsp; USD4,000 | &nbsp;&nbsp;&nbsp;&nbsp; (19)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (19)<br>|
| SOFR | Annual | 3.529% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 1/29/2030 | &nbsp;&nbsp;&nbsp;&nbsp; USD4,800 | &nbsp;&nbsp;&nbsp;&nbsp; (23)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (23)<br>|
| SOFR | Annual | 3.5485% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 1/29/2030 | &nbsp;&nbsp;&nbsp;&nbsp; USD5,200 | &nbsp;&nbsp;&nbsp;&nbsp; (29)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (29)<br>|
| U.S. EFFR | Annual | 0.5385% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 3/26/2030 | &nbsp;&nbsp;&nbsp;&nbsp; USD49,000 | &nbsp;&nbsp;&nbsp;&nbsp; 6039 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6039 |
| 3.18% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 4/17/2030 | &nbsp;&nbsp;&nbsp;&nbsp; USD2,600 | &nbsp;&nbsp;&nbsp;&nbsp; (28)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (28)<br>|
| 3.275% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 4/18/2030 | &nbsp;&nbsp;&nbsp;&nbsp; USD2,600 | &nbsp;&nbsp;&nbsp;&nbsp; (17)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (17)<br>|
| 3.353% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 4/19/2030 | &nbsp;&nbsp;&nbsp;&nbsp; USD2,600 | &nbsp;&nbsp;&nbsp;&nbsp; (8)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (8)<br>|
| 3.342% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 4/19/2030 | &nbsp;&nbsp;&nbsp;&nbsp; USD2,600 | &nbsp;&nbsp;&nbsp;&nbsp; (9)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (9)<br>|
| 3.344% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 4/20/2030 | &nbsp;&nbsp;&nbsp;&nbsp; USD2,600 | &nbsp;&nbsp;&nbsp;&nbsp; (9)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (9)<br>|
| 3.128% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 4/28/2030 | &nbsp;&nbsp;&nbsp;&nbsp; USD2,600 | &nbsp;&nbsp;&nbsp;&nbsp; (34)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (34)<br>|
| 3.285% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 5/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; USD2,500 | &nbsp;&nbsp;&nbsp;&nbsp; (15)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (15)<br>|
| 3.259% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 5/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; USD2,600 | &nbsp;&nbsp;&nbsp;&nbsp; (19)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (19)<br>|
| 3.186% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 5/9/2030 | &nbsp;&nbsp;&nbsp;&nbsp; USD2,600 | &nbsp;&nbsp;&nbsp;&nbsp; (28)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (28)<br>|
| 3.215% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 5/10/2030 | &nbsp;&nbsp;&nbsp;&nbsp; USD2,500 | &nbsp;&nbsp;&nbsp;&nbsp; (23)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (23)<br>|
| 3.29% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 5/19/2030 | &nbsp;&nbsp;&nbsp;&nbsp; USD3,100 | &nbsp;&nbsp;&nbsp;&nbsp; (19)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (19)<br>|
| 3.31% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 6/9/2030 | &nbsp;&nbsp;&nbsp;&nbsp; USD26,800 | &nbsp;&nbsp;&nbsp;&nbsp; (141)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (141)<br>|
| U.S. EFFR | Annual | 0.666% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 11/19/2030 | &nbsp;&nbsp;&nbsp;&nbsp; USD15,500 | &nbsp;&nbsp;&nbsp;&nbsp; 2074 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2074 |
| SOFR | Annual | 4.1615% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 5/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; USD330 | &nbsp;&nbsp;&nbsp;&nbsp; (13)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (13)<br>|
| SOFR | Annual | 4.15% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 5/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; USD880 | &nbsp;&nbsp;&nbsp;&nbsp; (34)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (34)<br>|
| 4.0135% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 8/21/2033 | &nbsp;&nbsp;&nbsp;&nbsp; USD1,185 | &nbsp;&nbsp;&nbsp;&nbsp; 35 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 35 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **262** |

---

------

U.S. Government Securities Fund (continued)

**Swap contracts** (continued)

------

**Interest rate swaps** (continued)

**Centrally cleared interest rate swaps** (continued)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | Receive | Pay | Pay | &nbsp;&nbsp;&nbsp; Expiration<br> date | &nbsp;&nbsp;&nbsp; Notional<br> amount<br> &nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Value at<br> 6/30/2025<br> &nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Upfront<br> premium<br> paid<br> &nbsp;&nbsp;&nbsp;&nbsp;(received)<br> &nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Unrealized<br> appreciation<br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation)<br> at 6/30/2025<br> &nbsp;&nbsp;&nbsp;&nbsp;(000) |
| Rate | &nbsp;&nbsp;&nbsp;&nbsp; Payment<br> frequency<br>| Rate | &nbsp;&nbsp;&nbsp;&nbsp; Payment<br> frequency<br>| &nbsp;&nbsp;&nbsp; Expiration<br> date | &nbsp;&nbsp;&nbsp; Notional<br> amount<br> &nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Value at<br> 6/30/2025<br> &nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Upfront<br> premium<br> paid<br> &nbsp;&nbsp;&nbsp;&nbsp;(received)<br> &nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Unrealized<br> appreciation<br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation)<br> at 6/30/2025<br> &nbsp;&nbsp;&nbsp;&nbsp;(000) |
| SOFR | Annual | 3.6025% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 1/8/2034 | &nbsp;&nbsp;&nbsp;&nbsp; USD4,655 | &nbsp;&nbsp;&nbsp;&nbsp; $5 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $5 |
| SOFR | Annual | 3.175% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 2/1/2038 | &nbsp;&nbsp;&nbsp;&nbsp; USD16,000 | &nbsp;&nbsp;&nbsp;&nbsp; 925 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 925 |
| 3.065% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 4/7/2040 | &nbsp;&nbsp;&nbsp;&nbsp; USD12,300 | &nbsp;&nbsp;&nbsp;&nbsp; (1141)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1141)<br>|
| 3.616% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 8/5/2044 | &nbsp;&nbsp;&nbsp;&nbsp; USD5,600 | &nbsp;&nbsp;&nbsp;&nbsp; (261)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (261)<br>|
| 3.561% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 8/9/2044 | &nbsp;&nbsp;&nbsp;&nbsp; USD4,800 | &nbsp;&nbsp;&nbsp;&nbsp; (260)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (260)<br>|
| SOFR | Annual | 3.9815% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 11/6/2044 | &nbsp;&nbsp;&nbsp;&nbsp; USD10,330 | &nbsp;&nbsp;&nbsp;&nbsp; (25)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (25)<br>|
| SOFR | Annual | 3.045% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 7/27/2050 | &nbsp;&nbsp;&nbsp;&nbsp; USD3,600 | &nbsp;&nbsp;&nbsp;&nbsp; 524 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 524 |
| SOFR | Annual | 2.85282% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 12/6/2052 | &nbsp;&nbsp;&nbsp;&nbsp; USD540 | &nbsp;&nbsp;&nbsp;&nbsp; 98 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 98 |
| SOFR | Annual | 2.93542% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 12/6/2052 | &nbsp;&nbsp;&nbsp;&nbsp; USD550 | &nbsp;&nbsp;&nbsp;&nbsp; 93 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 93 |
| SOFR | Annual | 3.01413% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 1/12/2053 | &nbsp;&nbsp;&nbsp;&nbsp; USD1,402 | &nbsp;&nbsp;&nbsp;&nbsp; 218 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 218 |
| SOFR | Annual | 3.02% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 1/12/2053 | &nbsp;&nbsp;&nbsp;&nbsp; USD1,400 | &nbsp;&nbsp;&nbsp;&nbsp; 216 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 216 |
| SOFR | Annual | 2.974% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 4/17/2053 | &nbsp;&nbsp;&nbsp;&nbsp; USD800 | &nbsp;&nbsp;&nbsp;&nbsp; 130 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 130 |
| SOFR | Annual | 3.044% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 4/18/2053 | &nbsp;&nbsp;&nbsp;&nbsp; USD800 | &nbsp;&nbsp;&nbsp;&nbsp; 121 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 121 |
| SOFR | Annual | 3.0875% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 4/19/2053 | &nbsp;&nbsp;&nbsp;&nbsp; USD800 | &nbsp;&nbsp;&nbsp;&nbsp; 115 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 115 |
| SOFR | Annual | 3.1035% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 4/19/2053 | &nbsp;&nbsp;&nbsp;&nbsp; USD800 | &nbsp;&nbsp;&nbsp;&nbsp; 112 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 112 |
| SOFR | Annual | 3.0895% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 4/20/2053 | &nbsp;&nbsp;&nbsp;&nbsp; USD800 | &nbsp;&nbsp;&nbsp;&nbsp; 114 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 114 |
| SOFR | Annual | 2.9405% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 4/28/2053 | &nbsp;&nbsp;&nbsp;&nbsp; USD800 | &nbsp;&nbsp;&nbsp;&nbsp; 135 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 135 |
| SOFR | Annual | 3.0535% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 5/1/2053 | &nbsp;&nbsp;&nbsp;&nbsp; USD1,600 | &nbsp;&nbsp;&nbsp;&nbsp; 239 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 239 |
| SOFR | Annual | 3.085% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 5/9/2053 | &nbsp;&nbsp;&nbsp;&nbsp; USD900 | &nbsp;&nbsp;&nbsp;&nbsp; 129 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 129 |
| SOFR | Annual | 3.1135% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 5/10/2053 | &nbsp;&nbsp;&nbsp;&nbsp; USD800 | &nbsp;&nbsp;&nbsp;&nbsp; 111 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 111 |
| SOFR | Annual | 3.1605% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 5/19/2053 | &nbsp;&nbsp;&nbsp;&nbsp; USD1,000 | &nbsp;&nbsp;&nbsp;&nbsp; 131 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 131 |
| SOFR | Annual | 3.6765% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 2/20/2054 | &nbsp;&nbsp;&nbsp;&nbsp; USD2,019 | &nbsp;&nbsp;&nbsp;&nbsp; 87 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 87 |
| SOFR | Annual | 3.6815% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 2/20/2054 | &nbsp;&nbsp;&nbsp;&nbsp; USD1,510 | &nbsp;&nbsp;&nbsp;&nbsp; 64 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 64 |
| SOFR | Annual | 3.7205% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 2/21/2054 | &nbsp;&nbsp;&nbsp;&nbsp; USD520 | &nbsp;&nbsp;&nbsp;&nbsp; 18 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 18 |
| SOFR | Annual | 3.47875% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 8/5/2054 | &nbsp;&nbsp;&nbsp;&nbsp; USD4,200 | &nbsp;&nbsp;&nbsp;&nbsp; 323 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 323 |
| SOFR | Annual | 3.415% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 8/9/2054 | &nbsp;&nbsp;&nbsp;&nbsp; USD3,700 | &nbsp;&nbsp;&nbsp;&nbsp; 325 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 325 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; $11516 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $11516 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Principal payments may be made periodically. Therefore, the effective maturity date may be earlier than the stated maturity date.

<sup>(b)</sup> Amount less than one thousand.

<sup>(c)</sup> Acquired in a transaction exempt from registration under Rule 144A or, for commercial paper, Section 4(a)(2) of the Securities Act of 1933. May be resold in the U.S. in transactions exempt from registration, normally to qualified institutional buyers. The total value of all such securities was $212,930,000, which represented 11.72% of the net assets of the fund. 

<sup>(d)</sup> Coupon rate may change periodically. Reference rate and spread are as of the most recent information available. Some coupon rates are determined by the issuer or agent based on current market conditions; therefore, the reference rate and spread are not available. 

<sup>(e)</sup> Represents securities transacted on a TBA basis.

<sup>(f)</sup> All or a portion of this security was pledged as collateral. The total value of pledged collateral was $14,617,000, which represented 0.80% of the net assets of the fund. 

<sup>(g)</sup> Index-linked bond whose principal amount moves with a government price index. 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **Key to abbreviation(s)** |
| Assn. = Association |
| EFFR = Effective Federal Funds Rate |
| SOFR = Secured Overnight Financing Rate |
| TBA = To be announced |
| USD = U.S. dollars |

---

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **263** | American Funds Insurance Series |

---

------

Managed Risk Growth Fund

**Investment portfolio** June 30, 2025unaudited

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Growth funds 84.99% | Shares | Value<br> (000)<br>|
| American Funds Insurance Series – Growth Fund, Class 1  | 3422976 | $441872 |
| **Total growth funds** (cost: $324,437,000) |  | 441872 |
| Fixed income funds 10.00% |  |  |
| American Funds Insurance Series – The Bond Fund of America, Class 1  | 5428526 | 52005 |
| **Total fixed income funds** (cost: $51,791,000) |  | 52005 |
| Short-term securities 4.58% |  |  |
| State Street Institutional U.S. Government Money Market Fund - Premier Class 4.27% <sup>(a)</sup>  | 23813652 | 23814 |
| **Total short-term securities** (cost: $23,814,000) |  | 23814 |
| Options purchased (equity style) 0.63% |  |  |
| Options purchased (equity style)\* |  | 3271 |
| **Total options purchased** (cost: $3,943,000) |  | 3271 |
| **Total investment securities 100.20**% (cost: $403,985,000) |  | 520962 |
| Other assets less liabilities (0.20)% |  | (1017)<br>|
| **Net assets 100.00%** |  | $519945 |

---

**\*Options purchased (equity style)**

------

**Equity index options** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Description | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exercise <br>price<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value at <br>6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| **Put** |  |  |  |  |  |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD6,205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD4,225.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $21 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 279223 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4250.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 958 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4300.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 67 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4325.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 103 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4350.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 117 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4375.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 48 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 55844 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4250.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 334 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 257505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4275.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1623 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $3271 |

---

**Futures contracts**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Contracts | Type | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value and <br>unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| British Pound Currency Futures | Short | 1 | 9/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD(86)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(2)<br>|
| Euro Currency Futures | Short | 1 | 9/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (148)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4)<br>|
| S&P 500 E-mini Index Futures | Long | 92 | 9/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 66 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $60 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **264** |

---

------

Managed Risk Growth Fund (continued)

**Investments in affiliates** <sup>(b)</sup>

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>1/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>6/30/2025 <br>(000)<br>| Dividend <br>income <br>(000)<br>| Capital gain <br>distributions <br>received <br>(000)<br>|
| **Growth funds 84.99%** |  |  |  |  |  |  |  |  |
| American Funds Insurance Series – <br>Growth Fund, Class 1 <br>| $445562 | &nbsp;&nbsp; $110570 | &nbsp;&nbsp; $123574 | &nbsp;&nbsp; $45855 | &nbsp;&nbsp; $(36541)<br>| &nbsp;&nbsp; $441872 | &nbsp;&nbsp; $852 | &nbsp;&nbsp; $34295 |
| **Fixed income funds 10.00%** |  |  |  |  |  |  |  |  |
| American Funds Insurance Series – <br>The Bond Fund of America, Class 1 <br>| 52786 | &nbsp;&nbsp; 30401 | &nbsp;&nbsp; 32858 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 1672 | &nbsp;&nbsp; 52005 | &nbsp;&nbsp; 457 | &nbsp;&nbsp; — |
| **Total 94.99%** |  |  |  | &nbsp;&nbsp; $45859 | &nbsp;&nbsp; $(34869)<br>| &nbsp;&nbsp; $493877 | &nbsp;&nbsp; $1309 | &nbsp;&nbsp; $34295 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Rate represents the seven-day yield at 6/30/2025. <br> <sup>(b)</sup> Part of the same "group of investment companies" as the fund as defined under the Investment Company Act of 1940, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **Key to abbreviation(s)** |
| USD = U.S. dollars |

---

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **265** | American Funds Insurance Series |

---

------

Managed Risk International Fund

**Investment portfolio** June 30, 2025unaudited

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Growth funds 84.91% | Shares | Value<br> (000)<br>|
| American Funds Insurance Series – International Fund, Class 1  | 4843208 | $96864 |
| **Total growth funds** (cost: $76,504,000) |  | 96864 |
| Fixed income funds 9.99% |  |  |
| American Funds Insurance Series – The Bond Fund of America, Class 1  | 1190005 | 11400 |
| **Total fixed income funds** (cost: $11,262,000) |  | 11400 |
| Short-term securities 4.13% |  |  |
| State Street Institutional U.S. Government Money Market Fund - Premier Class 4.27% <sup>(a)</sup>  | 4707948 | 4708 |
| **Total short-term securities** (cost: $4,708,000) |  | 4708 |
| Options purchased (equity style) 0.42% |  |  |
| Options purchased (equity style)\* |  | 481 |
| **Total options purchased** (cost: $718,000) |  | 481 |
| **Total investment securities 99.45**% (cost: $93,192,000) |  | 113453 |
| Other assets less liabilities 0.55% |  | 628 |
| **Net assets 100.00%** |  | $114081 |

---

**\*Options purchased (equity style)**

------

**Equity index options** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Description | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exercise <br>price<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value at <br>6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| **Put** |  |  |  |  |  |
| iShares MSCI EAFE ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD34,862 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD64.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $45 |
| iShares MSCI EAFE ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1073 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 |
| iShares MSCI EAFE ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1341 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 |
| iShares MSCI EAFE ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13408 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 46 |
| iShares MSCI EAFE ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 62 |
| iShares MSCI EAFE ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35 |
| iShares MSCI EAFE ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13 |
| iShares MSCI EAFE ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 271 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $481 |

---

**Futures contracts**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Contracts | Type | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value and <br>unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| MSCI EAFE Index Futures | Short | 8 | 9/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD(1,073)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(24)<br>|
| S&P 500 E-mini Index Futures | Short | 5 | 9/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1563)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (55)<br>|
| Mini MSCI Emerging Market Index Futures | Short | 45 | 9/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2775)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (47)<br>|
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(126)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **266** |

---

------

Managed Risk International Fund (continued)

**Investments in affiliates** <sup>(b)</sup>

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>1/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>6/30/2025 <br>(000)<br>| Dividend <br>income <br>(000)<br>| Capital gain <br>distributions <br>received <br>(000)<br>|
| **Growth funds 84.91%** |  |  |  |  |  |  |  |  |
| American Funds Insurance Series – <br>International Fund, Class 1 <br>| $96701 | &nbsp;&nbsp; $9227 | &nbsp;&nbsp; $20142 | &nbsp;&nbsp; $2798 | &nbsp;&nbsp; $8280 | &nbsp;&nbsp; $96864 | &nbsp;&nbsp; $62 | &nbsp;&nbsp; $— |
| **Fixed income funds 9.99%** |  |  |  |  |  |  |  |  |
| American Funds Insurance Series – <br>The Bond Fund of America, Class 1 <br>| 11472 | &nbsp;&nbsp; 3743 | &nbsp;&nbsp; 4220 | &nbsp;&nbsp; (30)<br>| &nbsp;&nbsp; 435 | &nbsp;&nbsp; 11400 | &nbsp;&nbsp; 101 | &nbsp;&nbsp; — |
| **Total 94.90%** |  |  |  | &nbsp;&nbsp; $2768 | &nbsp;&nbsp; $8715 | &nbsp;&nbsp; $108264 | &nbsp;&nbsp; $163 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Rate represents the seven-day yield at 6/30/2025. <br> <sup>(b)</sup> Part of the same "group of investment companies" as the fund as defined under the Investment Company Act of 1940, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **Key to abbreviation(s)** |
| USD = U.S. dollars |

---

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **267** | American Funds Insurance Series |

---

------

Managed Risk Washington Mutual Investors Fund

**Investment portfolio** June 30, 2025unaudited

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Growth-and-income funds 85.02% | Shares | Value<br> (000)<br>|
| American Funds Insurance Series – Washington Mutual Investors Fund, Class 1  | 15813911 | $270418 |
| **Total growth-and-income funds** (cost: $211,011,000) |  | 270418 |
| Fixed income funds 9.98% |  |  |
| American Funds Insurance Series – U.S. Government Securities Fund, Class 1  | 3179864 | 31735 |
| **Total fixed income funds** (cost: $31,329,000) |  | 31735 |
| Short-term securities 4.61% |  |  |
| State Street Institutional U.S. Government Money Market Fund - Premier Class 4.27% <sup>(a)</sup>  | 14661495 | 14661 |
| **Total short-term securities** (cost: $14,661,000) |  | 14661 |
| Options purchased (equity style) 0.38% |  |  |
| Options purchased (equity style)\* |  | 1203 |
| **Total options purchased** (cost: $1,977,000) |  | 1203 |
| **Total investment securities 99.99**% (cost: $258,978,000) |  | 318017 |
| Other assets less liabilities 0.01% |  | 47 |
| **Net assets 100.00%** |  | $318064 |

---

**\*Options purchased (equity style)**

------

**Equity index options** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Description | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exercise <br>price<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value at <br>6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| **Put** |  |  |  |  |  |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD155,124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD4,500.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $215 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15512 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4225.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 52 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4250.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 107 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4300.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 89 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4325.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 91 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4350.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21717 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4375.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 84 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9307 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4175.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 53 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 77562 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4275.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 489 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1203 |

---

**Futures contracts**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Contracts | Type | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value and <br>unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| S&P 500 E-mini Index Futures | Long | 38 | 9/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD11,882 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $298 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **268** |

---

------

Managed Risk Washington Mutual Investors Fund (continued)

**Investments in affiliates** <sup>(b)</sup>

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>1/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>6/30/2025 <br>(000)<br>| Dividend <br>income <br>(000)<br>| Capital gain <br>distributions <br>received <br>(000)<br>|
| **Growth-and-income funds 85.02%** |  |  |  |  |  |  |  |  |
| American Funds Insurance Series – <br>Washington Mutual Investors Fund, Class 1 <br>| $273106 | &nbsp;&nbsp; $42783 | &nbsp;&nbsp; $50322 | &nbsp;&nbsp; $10456 | &nbsp;&nbsp; $(5605)<br>| &nbsp;&nbsp; $270418 | &nbsp;&nbsp; $933 | &nbsp;&nbsp; $17905 |
| **Fixed income funds 9.98%** |  |  |  |  |  |  |  |  |
| American Funds Insurance Series – <br>U.S. Government Securities Fund, Class 1 <br>| 32524 | &nbsp;&nbsp; 9695 | &nbsp;&nbsp; 11805 | &nbsp;&nbsp; (345)<br>| &nbsp;&nbsp; 1666 | &nbsp;&nbsp; 31735 | &nbsp;&nbsp; 257 | &nbsp;&nbsp; — |
| **Total 95.00%** |  |  |  | &nbsp;&nbsp; $10111 | &nbsp;&nbsp; $(3939)<br>| &nbsp;&nbsp; $302153 | &nbsp;&nbsp; $1190 | &nbsp;&nbsp; $17905 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Rate represents the seven-day yield at 6/30/2025. <br> <sup>(b)</sup> Part of the same "group of investment companies" as the fund as defined under the Investment Company Act of 1940, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **Key to abbreviation(s)** |
| USD = U.S. dollars |

---

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **269** | American Funds Insurance Series |

---

------

Managed Risk Growth-Income Fund

**Investment portfolio** June 30, 2025unaudited

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Growth-and-income funds 79.76% | Shares | Value<br> (000)<br>|
| American Funds Insurance Series – Growth-Income Fund, Class 1  | 27136375 | $1693310 |
| **Total growth-and-income funds** (cost: $1,467,670,000) |  | 1693310 |
| Fixed income funds 14.96% |  |  |
| American Funds Insurance Series – The Bond Fund of America, Class 1  | 33142813 | 317508 |
| **Total fixed income funds** (cost: $314,557,000) |  | 317508 |
| Short-term securities 4.69% |  |  |
| State Street Institutional U.S. Government Money Market Fund - Premier Class 4.27% <sup>(a)</sup>  | 99642239 | 99642 |
| **Total short-term securities** (cost: $99,642,000) |  | 99642 |
| Options purchased (equity style) 0.69% |  |  |
| Options purchased (equity style)\* |  | 14515 |
| **Total options purchased** (cost: $22,680,000) |  | 14515 |
| **Total investment securities 100.10**% (cost: $1,904,549,000) |  | 2124975 |
| Other assets less liabilities (0.10)% |  | (2020)<br>|
| **Net assets 100.00%** |  | $2122955 |

---

**\*Options purchased (equity style)**

------

**Equity index options** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Description | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exercise <br>price<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value at <br>6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| **Put** |  |  |  |  |  |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD24,820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD4,225.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $26 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 49640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4300.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 56 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 43435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4450.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 58 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1365089 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4500.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1888 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 74459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4125.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 226 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 93074 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4225.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 311 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 797336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4250.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2737 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 310247 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4300.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1118 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 74459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4325.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 274 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 99279 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4375.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 386 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 49640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4175.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 280 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1135506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4275.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7155 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $14515 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **270** |

---

------

Managed Risk Growth-Income Fund (continued)

**Futures contracts**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Contracts | Type | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value and <br>unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| S&P 500 E-mini Index Futures | Long | 460 | 9/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD143,836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $3205 |

---

**Investments in affiliates** <sup>(b)</sup>

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>1/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>6/30/2025 <br>(000)<br>| Dividend <br>income <br>(000)<br>| Capital gain <br>distributions <br>received <br>(000)<br>|
| **Growth-and-income funds 79.76%** |  |  |  |  |  |  |  |  |
| American Funds Insurance Series – <br>Growth-Income Fund, Class 1 <br>| $1736906 | &nbsp;&nbsp; $409049 | &nbsp;&nbsp; $302039 | &nbsp;&nbsp; $54771 | &nbsp;&nbsp; $(205377)<br>| &nbsp;&nbsp; $1693310 | &nbsp;&nbsp; $4029 | &nbsp;&nbsp; $278792 |
| **Fixed income funds 14.96%** |  |  |  |  |  |  |  |  |
| American Funds Insurance Series – <br>The Bond Fund of America, Class 1 <br>| 325683 | &nbsp;&nbsp; 82741 | &nbsp;&nbsp; 102164 | &nbsp;&nbsp; (557)<br>| &nbsp;&nbsp; 11805 | &nbsp;&nbsp; 317508 | &nbsp;&nbsp; 2800 | &nbsp;&nbsp; — |
| **Total 94.72%** |  |  |  | &nbsp;&nbsp; $54214 | &nbsp;&nbsp; $(193572)<br>| &nbsp;&nbsp; $2010818 | &nbsp;&nbsp; $6829 | &nbsp;&nbsp; $278792 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Rate represents the seven-day yield at 6/30/2025. <br> <sup>(b)</sup> Part of the same "group of investment companies" as the fund as defined under the Investment Company Act of 1940, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **Key to abbreviation(s)** |
| USD = U.S. dollars |

---

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **271** | American Funds Insurance Series |

---

------

Managed Risk Asset Allocation Fund

**Investment portfolio** June 30, 2025unaudited

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Asset allocation funds 95.10% | Shares | Value<br> (000)<br>|
| American Funds Insurance Series – Asset Allocation Fund, Class 1  | 71278050 | $1858219 |
| **Total asset allocation funds** (cost: $1,681,795,000) |  | 1858219 |
| Short-term securities 4.82% |  |  |
| State Street Institutional U.S. Government Money Market Fund - Premier Class 4.27% <sup>(a)</sup>  | 94150915 | 94151 |
| **Total short-term securities** (cost: $94,151,000) |  | 94151 |
| Options purchased (equity style) 0.15% |  |  |
| Options purchased (equity style)\* |  | 2833 |
| **Total options purchased** (cost: $3,627,000) |  | 2833 |
| **Total investment securities 100.07**% (cost: $1,779,573,000) |  | 1955203 |
| Other assets less liabilities (0.07)% |  | (1334)<br>|
| **Net assets 100.00%** |  | $1953869 |

---

**\*Options purchased (equity style)**

------

**Equity index options** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Description | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exercise <br>price<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value at <br>6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| **Put** |  |  |  |  |  |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD12,410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD4,300.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $14 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4500.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4125.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 57 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21717 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4225.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 72 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 251300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4250.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 863 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 65152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4300.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 235 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4350.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 70 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 238891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4275.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1505 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $2833 |

---

**Futures contracts**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Contracts | Type | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value and <br>unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| S&P 500 E-mini Index Futures | Long | 81 | 9/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD25,328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $638 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **272** |

---

------

Managed Risk Asset Allocation Fund (continued)

**Investments in affiliates** <sup>(b)</sup>

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>1/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>6/30/2025 <br>(000)<br>| Dividend <br>income <br>(000)<br>| Capital gain <br>distributions <br>received <br>(000)<br>|
| **Asset allocation funds 95.10%** |  |  |  |  |  |  |  |  |
| American Funds Insurance Series – <br>Asset Allocation Fund, Class 1 <br>| $1923478 | &nbsp;&nbsp; $243681 | &nbsp;&nbsp; $317008 | &nbsp;&nbsp; $(5123)<br>| &nbsp;&nbsp; $13191 | &nbsp;&nbsp; $1858219 | &nbsp;&nbsp; $8184 | &nbsp;&nbsp; $127660 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Rate represents the seven-day yield at 6/30/2025. <br> <sup>(b)</sup> Part of the same "group of investment companies" as the fund as defined under the Investment Company Act of 1940, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **Key to abbreviation(s)** |
| USD = U.S. dollars |

---

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **273** | American Funds Insurance Series |

---

------

Financial statements unaudited

**Statements of assets and liabilities** at June 30, 2025

(dollars in thousands)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Global** <br>**Growth** <br>**Fund**<br>| **Global** <br>**Small** <br>**Capitalization** <br>**Fund**<br>| **Growth** <br>**Fund**<br>| **International** <br>**Fund**<br>| **New** <br>**World** <br>**Fund**<br>|
| **Assets:** |  |  |  |  |  |
| Investment securities, at value: |  |  |  |  |  |
| Unaffiliated issuers | $8417403 | $2956588 | $50144089 | $6929119 | $3605243 |
| Affiliated issuers | 237566 | 156122 | 1443384 | 330868 | 147681 |
| Cash | 177 | 303 | 335 | 608 | 293 |
| Cash collateral received for securities on loan |  | 2182 | 14037 |  | 478 |
| Cash collateral pledged for futures contracts |  |  |  |  | 150 |
| Cash collateral pledged for swap contracts |  |  |  |  |  |
| Cash denominated in currencies other than U.S. dollars | 510 | 608 | 1254 | 5444 | 1308 |
| Unrealized appreciation on open forward currency contracts |  |  |  |  | 90 |
| Bilateral swaps, at value |  |  |  |  |  |
| Unrealized appreciation on unfunded commitments\* |  |  |  |  |  |
| Receivables for: |  |  |  |  |  |
| Sales of investments |  | 2449 |  | 23471 | 4758 |
| Sales of fund's shares | 4270 | 814 | 35214 | 2867 | 4264 |
| Dividends and interest | 11835 | 4669 | 17251 | 16811 | 9797 |
| Variation margin on futures contracts |  |  |  |  | 22 |
| Variation margin on centrally cleared swap contracts |  |  |  |  |  |
| Variation margin on options (futures style) |  |  |  |  |  |
| Securities lending income | 3 | 33 | 36 | 5 | 3 |
| Other | 424 | 197 | 97 | 810 | 300 |
|  | 8672188 | 3123965 | 51655697 | 7310003 | 3774387 |
| **Liabilities:** |  |  |  |  |  |
| Collateral for securities on loan |  | 21824 | 140364 |  | 4784 |
| Unrealized depreciation on open forward currency contracts |  |  |  |  | 168 |
| Bilateral swaps, at value |  |  |  |  |  |
| Options written, at value |  |  |  |  |  |
| Payables for: |  |  |  |  |  |
| Purchases of investments | 31663 | 5973 | 14198 | 47280 | 10534 |
| Repurchases of fund's shares | 38493 | 10483 | 187437 | 20823 | 6332 |
| Investment advisory services | 2580 | 1465 | 12329 | 2765 | 1514 |
| Insurance administrative fees | 619 | 196 | 3597 | 296 | 525 |
| Services provided by related parties | 1145 | 504 | 6608 | 959 | 437 |
| Trustees' deferred compensation | 124 | 68 | 683 | 195 | 57 |
| Variation margin on futures contracts |  |  |  |  | 2 |
| Variation margin on centrally cleared swap contracts |  |  |  |  |  |
| Variation margin on options (futures style) |  |  |  |  |  |
| Non-U.S. taxes | 6022 | 16925 |  | 28851 | 22200 |
| Other | 90 | 50 | 713 | 130 | 174 |
|  | 80736 | 57488 | 365929 | 101299 | 46727 |
| Commitments and contingencies\* |  |  |  |  |  |
| **Net assets at June 30, 2025** | $8591452 | $3066477 | $51289768 | $7208704 | $3727660 |
| **Net assets consist of:** |  |  |  |  |  |
| Capital paid in on shares of beneficial interest | $4832286 | $2197996 | $19661442 | $5060920 | $2275998 |
| Total distributable earnings (accumulated loss) | 3759166 | 868481 | 31628326 | 2147784 | 1451662 |
| **Net assets at June 30, 2025** | $8591452 | $3066477 | $51289768 | $7208704 | $3727660 |
| Investment securities on loan, at value | $11 | $21033 | $137026 | $— | $7151 |
| Investment securities, at cost |  |  |  |  |  |
| Unaffiliated issuers | 4879530 | 2155395 | 20971807 | 5063863 | 2264412 |
| Affiliated issuers | 237553 | 156110 | 1443194 | 330857 | 147673 |
| Cash denominated in currencies other than U.S. dollars, at cost | 510 | 608 | 1254 | 5444 | 1307 |
| Premiums received on options written |  |  |  |  |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Refer to the end of the statements of assets and liabilities for footnote(s).

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **274** |

---

------

Financial statements (continued) unaudited

**Statements of assets and liabilities** at June 30, 2025 (continued)

(dollars in thousands)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Washington** <br>**Mutual** <br>**Investors** <br>**Fund**<br>| **U.S. Small and** <br> **Mid** <br>**Cap Equity** <br> **Fund**<br>| **Capital** <br>**World Growth** <br>**and Income** <br>**Fund**<br>| **Growth-** <br>**Income** <br>**Fund**<br>| **International** <br>**Growth** <br>**and Income** <br>**Fund**<br>|
| **Assets:** |  |  |  |  |  |
| Investment securities, at value: |  |  |  |  |  |
| Unaffiliated issuers | $11287736 | $15216 | $1931702 | $40992508 | $380489 |
| Affiliated issuers | 366782 | 510 | 76286 | 1643318 | 15675 |
| Cash | 336 | 50 | 121 | 201 | 36 |
| Cash collateral received for securities on loan | 1 |  | 899 |  | 94 |
| Cash collateral pledged for futures contracts |  |  |  |  |  |
| Cash collateral pledged for swap contracts |  |  |  |  |  |
| Cash denominated in currencies other than U.S. dollars | 4 |  | 627 | 2042 | 256 |
| Unrealized appreciation on open forward currency contracts |  |  |  |  |  |
| Bilateral swaps, at value |  |  |  |  |  |
| Unrealized appreciation on unfunded commitments\* |  |  |  |  |  |
| Receivables for: |  |  |  |  |  |
| Sales of investments | 19690 |  | 3968 |  | 621 |
| Sales of fund's shares | 6995 | 16 | 2215 | 6034 | 627 |
| Dividends and interest | 14672 | 12 | 4292 | 42203 | 1442 |
| Variation margin on futures contracts |  |  |  |  |  |
| Variation margin on centrally cleared swap contracts |  |  |  |  |  |
| Variation margin on options (futures style) |  |  |  |  |  |
| Securities lending income | 11 | — <br><sup>†</sup><br>| 1 | 10 | 2 |
| Other | 1 |  | 272 | 440 | 56 |
|  | 11696228 | 15804 | 2020383 | 42686756 | 399298 |
| **Liabilities:** |  |  |  |  |  |
| Collateral for securities on loan | 5 | 7 | 8988 |  | 937 |
| Unrealized depreciation on open forward currency contracts |  |  |  |  |  |
| Bilateral swaps, at value |  |  |  |  |  |
| Options written, at value |  |  |  |  |  |
| Payables for: |  |  |  |  |  |
| Purchases of investments | 9997 | 36 | 5744 | 25347 | 729 |
| Repurchases of fund's shares | 9657 | — <br><sup>†</sup><br>| 5926 | 82681 | 902 |
| Investment advisory services | 2096 | 6 | 601 | 8480 | 152 |
| Insurance administrative fees | 1177 | — <br><sup>†</sup><br>| 182 | 1699 | 114 |
| Services provided by related parties | 1296 |  | 324 | 4431 | 81 |
| Trustees' deferred compensation | 153 | — <br><sup>†</sup><br>| 33 | 704 | 14 |
| Variation margin on futures contracts |  |  |  |  |  |
| Variation margin on centrally cleared swap contracts |  |  |  |  |  |
| Variation margin on options (futures style) |  |  |  |  |  |
| Non-U.S. taxes | 154 |  | 863 | 1045 | 253 |
| Other | 4 | — <br><sup>†</sup><br>| 18 | 52 | 51 |
|  | 24539 | 49 | 22679 | 124439 | 3233 |
| Commitments and contingencies\* |  |  |  |  |  |
| **Net assets at June 30, 2025** | $11671689 | $15755 | $1997704 | $42562317 | $396065 |
| **Net assets consist of:** |  |  |  |  |  |
| Capital paid in on shares of beneficial interest | $6758521 | $15085 | $1120609 | $22041672 | $309180 |
| Total distributable earnings (accumulated loss) | 4913168 | 670 | 877095 | 20520645 | 86885 |
| **Net assets at June 30, 2025** | $11671689 | $15755 | $1997704 | $42562317 | $396065 |
| Investment securities on loan, at value | $4 | $7 | $8902 | $— | $891 |
| Investment securities, at cost |  |  |  |  |  |
| Unaffiliated issuers | 6918368 | 14602 | 1157926 | 22366500 | 275220 |
| Affiliated issuers | 366732 | 510 | 76280 | 1557595 | 15673 |
| Cash denominated in currencies other than U.S. dollars, at cost | 4 |  | 627 | 2042 | 256 |
| Premiums received on options written |  |  |  |  |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Refer to the end of the statements of assets and liabilities for footnote(s).

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **275** | American Funds Insurance Series |

---

------

Financial statements (continued) unaudited

**Statements of assets and liabilities** at June 30, 2025 (continued)

(dollars in thousands)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Capital** <br>**Income** <br>**Builder**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Asset** <br>**Allocation** <br>**Fund**<br>| **American** <br>**Funds** <br>**Global** <br>**Balanced** <br>**Fund**<br>| **The Bond** <br> **Fund** <br>**of America**<br>| **Capital** <br>**World Bond** <br>**Fund**<br>|
| **Assets:** |  |  |  |  |  |
| Investment securities, at value: |  |  |  |  |  |
| Unaffiliated issuers | $1415891 | $26082288 | $394091 | $10443773 | $1419926 |
| Affiliated issuers | 147304 | 2096328 | 25703 | 745797 | 56565 |
| Cash | 837 | 733 | 46 | 144 | 88 |
| Cash collateral received for securities on loan | 1754 | 235 | 154 |  |  |
| Cash collateral pledged for futures contracts |  |  |  |  |  |
| Cash collateral pledged for swap contracts |  |  |  |  |  |
| Cash denominated in currencies other than U.S. dollars | 207 | 404 | 342 | 242 | 1005 |
| Unrealized appreciation on open forward currency contracts |  |  | 280 | 637 | 3338 |
| Bilateral swaps, at value |  |  | 60 | 2806 | 522 |
| Unrealized appreciation on unfunded commitments\* |  | 2 |  |  | — <br><sup>†</sup><br>|
| Receivables for: |  |  |  |  |  |
| Sales of investments | 32413 | 1054925 | 3625 | 580724 | 523 |
| Sales of fund's shares | 18606 | 6351 | 436 | 39402 | 2634 |
| Dividends and interest | 5662 | 81500 | 2051 | 84545 | 14704 |
| Variation margin on futures contracts | 248 | 3148 | 102 | 8173 | 1130 |
| Variation margin on centrally cleared swap contracts | 6 |  | 23 | 223 | 218 |
| Variation margin on options (futures style) |  |  | 9 |  | 77 |
| Securities lending income | 3 | 22 | — <br><sup>†</sup><br>|  |  |
| Other | 179 | 719 | 61 | 61 | 465 |
|  | 1623110 | 29326655 | 426983 | 11906527 | 1501195 |
| **Liabilities:** |  |  |  |  |  |
| Collateral for securities on loan | 17540 | 2353 | 1545 |  |  |
| Unrealized depreciation on open forward currency contracts |  |  | 601 | 2964 | 3277 |
| Bilateral swaps, at value |  |  | 284 | 1761 | 3690 |
| Options written, at value |  |  |  |  | 12 |
| Payables for: |  |  |  |  |  |
| Purchases of investments | 36269 | 1593478 | 4947 | 924089 | 18908 |
| Repurchases of fund's shares | 1300 | 39578 | 418 | 6595 | 1783 |
| Investment advisory services | 284 | 5882 | 143 | 1795 | 514 |
| Insurance administrative fees | 431 | 4051 | 99 | 913 | 62 |
| Services provided by related parties | 184 | 2924 | 73 | 1074 | 206 |
| Trustees' deferred compensation | 15 | 431 | 6 | 178 | 32 |
| Variation margin on futures contracts | 17 | 1321 | 33 | 463 | 346 |
| Variation margin on centrally cleared swap contracts | 18 | 234 | 14 | 1126 | 230 |
| Variation margin on options (futures style) |  |  | 7 |  | 58 |
| Non-U.S. taxes | 717 | 800 | 182 |  | 20 |
| Other | 12 | 22 | 42 | 6 | 103 |
|  | 56787 | 1651074 | 8394 | 940964 | 29241 |
| Commitments and contingencies\* |  |  |  |  |  |
| **Net assets at June 30, 2025** | $1566323 | $27675581 | $418589 | $10965563 | $1471954 |
| **Net assets consist of:** |  |  |  |  |  |
| Capital paid in on shares of beneficial interest | $1157379 | $18236532 | $331978 | $12407733 | $1667643 |
| Total distributable earnings (accumulated loss) | 408944 | 9439049 | 86611 | (1442170)<br>| (195689)<br>|
| **Net assets at June 30, 2025** | $1566323 | $27675581 | $418589 | $10965563 | $1471954 |
| Investment securities on loan, at value | $16714 | $2306 | $1472 | $— | $— |
| Investment securities, at cost |  |  |  |  |  |
| Unaffiliated issuers | 1052673 | 18416741 | 317156 | 10550966 | 1430793 |
| Affiliated issuers | 150264 | 2120361 | 25449 | 745710 | 54976 |
| Cash denominated in currencies other than U.S. dollars, at cost | 210 | 427 | 341 | 238 | 1005 |
| Premiums received on options written |  |  | 13 |  | 121 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Refer to the end of the statements of assets and liabilities for footnote(s).

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **276** |

---

------

Financial statements (continued) unaudited

**Statements of assets and liabilities** at June 30, 2025 (continued)

(dollars in thousands)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **American** <br>**High-Income** <br>**Trust**<br>| **American** <br> **Funds** <br>**Mortgage** <br> **Fund**<br>| **Ultra-Short** <br>**Bond Fund**<br>| **U.S.** <br>**Government** <br>**Securities** <br>**Fund**<br>| **Managed** <br>**Risk** <br>**Growth** <br>**Fund**<br>|
| **Assets:** |  |  |  |  |  |
| Investment securities, at value: |  |  |  |  |  |
| Unaffiliated issuers | $941867 | $132312 | $328734 | $1888566 | $27085 |
| Affiliated issuers | 45169 |  |  |  | 493877 |
| Cash | 493 | 148 | 106 | 2239 |  |
| Cash collateral received for securities on loan |  |  |  |  |  |
| Cash collateral pledged for futures contracts | 257 |  |  |  | 967 |
| Cash collateral pledged for swap contracts | 1348 |  |  |  |  |
| Cash denominated in currencies other than U.S. dollars | 2 |  |  |  |  |
| Unrealized appreciation on open forward currency contracts |  |  |  |  |  |
| Bilateral swaps, at value |  |  |  |  |  |
| Unrealized appreciation on unfunded commitments\* | 2 |  |  |  |  |
| Receivables for: |  |  |  |  |  |
| Sales of investments | 897 | 19309 |  | 198469 | 1981 |
| Sales of fund's shares | 1131 | 536 | 71 | 8809 | 40 |
| Dividends and interest | 14530 | 455 |  | 10099 | 79 |
| Variation margin on futures contracts | 18 | 74 |  | 1211 | 92 |
| Variation margin on centrally cleared swap contracts |  | 1 |  | 546 |  |
| Variation margin on options (futures style) |  |  |  |  |  |
| Securities lending income |  |  |  |  |  |
| Other | 5 | 1 |  |  |  |
|  | 1005719 | 152836 | 328911 | 2109939 | 524121 |
| **Liabilities:** |  |  |  |  |  |
| Collateral for securities on loan |  |  |  |  |  |
| Unrealized depreciation on open forward currency contracts |  |  |  |  |  |
| Bilateral swaps, at value |  |  |  |  |  |
| Options written, at value |  |  |  |  |  |
| Payables for: |  |  |  |  |  |
| Purchases of investments | 8748 | 34514 |  | 287995 | 2850 |
| Repurchases of fund's shares | 1378 | 80 | 4484 | 2734 | 829 |
| Investment advisory services | 229 | 21 | 70 | 315 | 42 |
| Insurance administrative fees | 117 | 36 | 46 | 320 | 304 |
| Services provided by related parties | 175 | 22 | 69 | 302 | 99 |
| Trustees' deferred compensation | 33 | 4 | 12 | 48 | 6 |
| Variation margin on futures contracts | 9 | 8 |  | 104 | 46 |
| Variation margin on centrally cleared swap contracts | 91 | 10 |  | 742 |  |
| Variation margin on options (futures style) |  |  |  |  |  |
| Non-U.S. taxes |  |  |  |  |  |
| Other |  |  |  | 1 |  |
|  | 10780 | 34695 | 4681 | 292561 | 4176 |
| Commitments and contingencies\* |  |  |  |  |  |
| **Net assets at June 30, 2025** | $994939 | $118141 | $324230 | $1817378 | $519945 |
| **Net assets consist of:** |  |  |  |  |  |
| Capital paid in on shares of beneficial interest | $1276070 | $128755 | $317685 | $2060022 | $436834 |
| Total distributable earnings (accumulated loss) | (281131)<br>| (10614)<br>| 6545 | (242644)<br>| 83111 |
| **Net assets at June 30, 2025** | $994939 | $118141 | $324230 | $1817378 | $519945 |
| Investment securities on loan, at value | $— | $— | $— | $— | $— |
| Investment securities, at cost |  |  |  |  |  |
| Unaffiliated issuers | 925675 | 132614 | 328764 | 1920972 | 27757 |
| Affiliated issuers | 45164 |  |  |  | 376228 |
| Cash denominated in currencies other than U.S. dollars, at cost | 2 |  |  |  |  |
| Premiums received on options written |  |  |  |  |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Refer to the end of the statements of assets and liabilities for footnote(s).

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **277** | American Funds Insurance Series |

---

------

Financial statements (continued) unaudited

**Statements of assets and liabilities** at June 30, 2025 (continued)

(dollars in thousands)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Managed** <br>**Risk** <br>**International** <br>**Fund**<br>| **Managed Risk** <br>**Washington** <br>**Mutual** <br>**Investors** <br>**Fund**<br>| **Managed** <br>**Risk** <br>**Growth-** <br>**Income** <br>**Fund**<br>| **Managed** <br>**Risk** <br>**Asset** <br>**Allocation** <br>**Fund**<br>|
| **Assets:** |  |  |  |  |
| Investment securities, at value: |  |  |  |  |
| Unaffiliated issuers | $5189 | $15864 | $114157 | $96984 |
| Affiliated issuers | 108264 | 302153 | 2010818 | 1858219 |
| Cash |  |  |  |  |
| Cash collateral received for securities on loan |  |  |  |  |
| Cash collateral pledged for futures contracts | 673 | 722 | 6046 | 1606 |
| Cash collateral pledged for swap contracts |  |  |  |  |
| Cash denominated in currencies other than U.S. dollars |  |  |  |  |
| Unrealized appreciation on open forward currency contracts |  |  |  |  |
| Bilateral swaps, at value |  |  |  |  |
| Unrealized appreciation on unfunded commitments\* |  |  |  |  |
| Receivables for: |  |  |  |  |
| Sales of investments | 593 | 585 | 13194 | 2675 |
| Sales of fund's shares | 7 | 6 | 22 | 162 |
| Dividends and interest | 18 | 53 | 357 | 347 |
| Variation margin on futures contracts | — <br><sup>†</sup><br>| 112 | 1112 | 234 |
| Variation margin on centrally cleared swap contracts |  |  |  |  |
| Variation margin on options (futures style) |  |  |  |  |
| Securities lending income |  |  |  |  |
| Other |  |  |  |  |
|  | 114744 | 319495 | 2145706 | 1960227 |
| **Liabilities:** |  |  |  |  |
| Collateral for securities on loan |  |  |  |  |
| Unrealized depreciation on open forward currency contracts |  |  |  |  |
| Bilateral swaps, at value |  |  |  |  |
| Options written, at value |  |  |  |  |
| Payables for: |  |  |  |  |
| Purchases of investments | 502 | 800 | 13902 | 1501 |
| Repurchases of fund's shares | 60 | 292 | 6786 | 2977 |
| Investment advisory services | 9 | 26 | 171 | 158 |
| Insurance administrative fees | 68 | 190 | 1257 | 1177 |
| Services provided by related parties | 22 | 62 | 53 | 390 |
| Trustees' deferred compensation | 2 | 5 | 26 | 38 |
| Variation margin on futures contracts |  | 56 | 556 | 117 |
| Variation margin on centrally cleared swap contracts |  |  |  |  |
| Variation margin on options (futures style) |  |  |  |  |
| Non-U.S. taxes |  |  |  |  |
| Other |  |  |  |  |
|  | 663 | 1431 | 22751 | 6358 |
| Commitments and contingencies\* |  |  |  |  |
| **Net assets at June 30, 2025** | $114081 | $318064 | $2122955 | $1953869 |
| **Net assets consist of:** |  |  |  |  |
| Capital paid in on shares of beneficial interest | $139237 | $288277 | $1694131 | $1732385 |
| Total distributable earnings (accumulated loss) | (25156)<br>| 29787 | 428824 | 221484 |
| **Net assets at June 30, 2025** | $114081 | $318064 | $2122955 | $1953869 |
| Investment securities on loan, at value | $— | $— | $— | $— |
| Investment securities, at cost |  |  |  |  |
| Unaffiliated issuers | 5426 | 16638 | 122322 | 97778 |
| Affiliated issuers | 87766 | 242340 | 1782227 | 1681795 |
| Cash denominated in currencies other than U.S. dollars, at cost |  |  |  |  |
| Premiums received on options written |  |  |  |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Refer to the end of the statements of assets and liabilities for footnote(s).

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **278** |

---

------

Financial statements (continued) unaudited

**Statements of assets and liabilities** at June 30, 2025 (continued)

(dollars and shares in thousands, except per-share amounts)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  |  | **Global** <br>**Growth** <br>**Fund**<br>| **Global** <br>**Small** <br>**Capitalization** <br>**Fund**<br>| **Growth** <br>**Fund**<br>| **International** <br>**Fund**<br>| **New** <br>**World** <br>**Fund**<br>|
| Shares of beneficial interest issued and outstanding <br>(no stated par value) — unlimited shares authorized | Shares of beneficial interest issued and outstanding <br>(no stated par value) — unlimited shares authorized |  |  |  |  |  |
| **Class 1:** | Net assets | $3826307 | $885004 | $23219776 | $3273585 | $1963422 |
|  | Shares outstanding | 106790 | 46087 | 179874 | 163697 | 66495 |
|  | Net asset value per share | $35.83 | $19.20 | $129.09 | $20.00 | $29.53 |
| **Class 1A:** | Net assets | $23541 | $6080 | $394214 | $14290 | $12395 |
|  | Shares outstanding | 662 | 322 | 3092 | 719 | 423 |
|  | Net asset value per share | $35.56 | $18.89 | $127.48 | $19.87 | $29.34 |
| **Class 2:** | Net assets | $3658494 | $1785308 | $21211228 | $3398928 | $851450 |
|  | Shares outstanding | 103962 | 99231 | 166854 | 170971 | 29249 |
|  | Net asset value per share | $35.19 | $17.99 | $127.12 | $19.88 | $29.11 |
| **Class 3:** | Net assets |  |  | $286572 | $15420 |  |
|  | Shares outstanding | Not applicable | Not applicable | 2195 | 769 | Not applicable |
|  | Net asset value per share |  |  | $130.57 | $20.06 |  |
| **Class 4:** | Net assets | $1083110 | $390085 | $6177978 | $506481 | $900393 |
|  | Shares outstanding | 31244 | 21761 | 50128 | 25929 | 31253 |
|  | Net asset value per share | $34.67 | $17.93 | $123.24 | $19.53 | $28.81 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  |  | **Washington** <br>**Mutual** <br>**Investors** <br>**Fund**<br>| **U.S. Small and** <br> **Mid** <br>**Cap Equity** <br> **Fund**<br>| **Capital** <br>**World Growth** <br>**and Income** <br>**Fund**<br>| **Growth-** <br>**Income** <br>**Fund**<br>| **International** <br>**Growth** <br>**and Income** <br>**Fund**<br>|
| Shares of beneficial interest issued and outstanding <br>(no stated par value) — unlimited shares authorized | Shares of beneficial interest issued and outstanding <br>(no stated par value) — unlimited shares authorized |  |  |  |  |  |
| **Class 1:** | Net assets | $6487868 | $10 | $611606 | $25261729 | $31530 |
|  | Shares outstanding | 379415 | 1 | 36247 | 404854 | 2559 |
|  | Net asset value per share | $17.10 | $10.45 | $16.87 | $62.40 | $12.32 |
| **Class 1A:** | Net assets | $34514 | $10 | $10701 | $47962 | $7639 |
|  | Shares outstanding | 2030 | 1 | 639 | 776 | 639 |
|  | Net asset value per share | $17.00 | $10.45 | $16.75 | $61.80 | $11.96 |
| **Class 2:** | Net assets | $3097649 | $11 | $1060266 | $14111614 | $164143 |
|  | Shares outstanding | 185220 | 1 | 63087 | 231203 | 13720 |
|  | Net asset value per share | $16.72 | $10.45 | $16.81 | $61.04 | $11.96 |
| **Class 3:** | Net assets |  |  |  | $154690 |  |
|  | Shares outstanding | Not applicable | Not applicable | Not applicable | 2474 | Not applicable |
|  | Net asset value per share |  |  |  | $62.54 |  |
| **Class 4:** | Net assets | $2051658 | $15724 | $315131 | $2986322 | $192753 |
|  | Shares outstanding | 124370 | 1505 | 19301 | 50082 | 16407 |
|  | Net asset value per share | $16.50 | $10.45 | $16.33 | $59.63 | $11.75 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Refer to the end of the statements of assets and liabilities for footnote(s).

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **279** | American Funds Insurance Series |

---

------

Financial statements (continued) unaudited

**Statements of assets and liabilities** at June 30, 2025 (continued)

(dollars and shares in thousands, except per-share amounts)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  |  | **Capital** <br>**Income** <br>**Builder**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Asset** <br>**Allocation** <br>**Fund**<br>| **American** <br>**Funds** <br>**Global** <br>**Balanced** <br>**Fund**<br>| **The Bond** <br> **Fund** <br>**of America**<br>| **Capital** <br>**World Bond** <br>**Fund**<br>|
| Shares of beneficial interest issued and outstanding <br>(no stated par value) — unlimited shares authorized | Shares of beneficial interest issued and outstanding <br>(no stated par value) — unlimited shares authorized |  |  |  |  |  |
| **Class 1:** | Net assets | $793538 | $16240337 | $96777 | $6713270 | $619493 |
|  | Shares outstanding | 57708 | 622968 | 7093 | 700832 | 59346 |
|  | Net asset value per share | $13.75 | $26.07 | $13.64 | $9.58 | $10.44 |
| **Class 1A:** | Net assets | $13755 | $44955 | $4073 | $259363 | $26030 |
|  | Shares outstanding | 1002 | 1737 | 301 | 27296 | 2519 |
|  | Net asset value per share | $13.73 | $25.87 | $13.54 | $9.50 | $10.33 |
| **Class 2:** | Net assets | $20266 | $4400629 | $149204 | $2710252 | $754851 |
|  | Shares outstanding | 1475 | 171759 | 11005 | 287705 | 73192 |
|  | Net asset value per share | $13.74 | $25.62 | $13.56 | $9.42 | $10.31 |
| **Class 3:** | Net assets |  | $33494 |  |  |  |
|  | Shares outstanding | Not applicable | 1284 | Not applicable | Not applicable | Not applicable |
|  | Net asset value per share |  | $26.09 |  |  |  |
| **Class 4:** | Net assets | $738764 | $6956166 | $168535 | $1282678 | $71580 |
|  | Shares outstanding | 53861 | 274415 | 12672 | 137094 | 7060 |
|  | Net asset value per share | $13.72 | $25.35 | $13.30 | $9.36 | $10.14 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  |  | **American** <br>**High-Income** <br>**Trust**<br>| **American** <br> **Funds** <br>**Mortgage** <br> **Fund**<br>| **Ultra-Short** <br>**Bond Fund**<br>| **U.S.** <br>**Government** <br>**Securities** <br>**Fund**<br>| **Managed** <br>**Risk** <br>**Growth** <br>**Fund**<br>|
| Shares of beneficial interest issued and outstanding <br>(no stated par value) — unlimited shares authorized | Shares of beneficial interest issued and outstanding <br>(no stated par value) — unlimited shares authorized |  |  |  |  |  |
| **Class 1:** | Net assets | $248752 | $17791 | $34289 | $269845 |  |
|  | Shares outstanding | 26289 | 1879 | 2993 | 27050 | Not applicable |
|  | Net asset value per share | $9.46 | $9.47 | $11.46 | $9.98 |  |
| **Class 1A:** | Net assets | $3290 | $3037 | $127 | $276893 |  |
|  | Shares outstanding | 350 | 325 | 11 | 27940 | Not applicable |
|  | Net asset value per share | $9.41 | $9.33 | $11.44 | $9.91 |  |
| **Class 2:** | Net assets | $534801 | $41346 | $227700 | $1029394 |  |
|  | Shares outstanding | 58049 | 4418 | 20602 | 104700 | Not applicable |
|  | Net asset value per share | $9.21 | $9.36 | $11.05 | $9.83 |  |
| **Class 3:** | Net assets | $8031 |  | $3782 | $5264 |  |
|  | Shares outstanding | 844 | Not applicable | 338 | 526 | Not applicable |
|  | Net asset value per share | $9.51 |  | $11.21 | $10.00 |  |
| **Class 4:** | Net assets | $200065 | $55967 | $58332 | $235982 |  |
|  | Shares outstanding | 19314 | 6068 | 5249 | 24059 | Not applicable |
|  | Net asset value per share | $10.36 | $9.22 | $11.11 | $9.81 |  |
| **Class P1:** | Net assets |  |  |  |  | $13806 |
|  | Shares outstanding | Not applicable | Not applicable | Not applicable | Not applicable | 1031 |
|  | Net asset value per share |  |  |  |  | $13.39 |
| **Class P2:** | Net assets |  |  |  |  | $506139 |
|  | Shares outstanding | Not applicable | Not applicable | Not applicable | Not applicable | 38220 |
|  | Net asset value per share |  |  |  |  | $13.24 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Refer to the end of the statements of assets and liabilities for footnote(s).

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **280** |

---

------

Financial statements (continued) unaudited

**Statements of assets and liabilities** at June 30, 2025 (continued)

(dollars and shares in thousands, except per-share amounts)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | **Managed** <br>**Risk** <br>**International** <br>**Fund**<br>| **Managed Risk** <br>**Washington** <br>**Mutual** <br>**Investors** <br>**Fund**<br>| **Managed** <br>**Risk** <br>**Growth-** <br>**Income** <br>**Fund**<br>| **Managed** <br>**Risk** <br>**Asset** <br>**Allocation** <br>**Fund**<br>|
| Shares of beneficial interest issued and outstanding <br>(no stated par value) — unlimited shares authorized | Shares of beneficial interest issued and outstanding <br>(no stated par value) — unlimited shares authorized |  |  |  |  |
| **Class P1:** | Net assets | $1954 | $2740 | $1855636 | $12050 |
|  | Shares outstanding | 233 | 226 | 131460 | 946 |
|  | Net asset value per share | $8.40 | $12.11 | $14.12 | $12.74 |
| **Class P2:** | Net assets | $112127 | $315324 | $267319 | $1941819 |
|  | Shares outstanding | 13401 | 26237 | 19091 | 157980 |
|  | Net asset value per share | $8.37 | $12.02 | $14.00 | $12.29 |

---

\*

Refer to Note 5 for further information on unfunded commitments and refer to Note 7 for further information on expense recoupment.

<sup>†</sup>

Amount less than one thousand.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **281** | American Funds Insurance Series |

---

------

Financial statements (continued) unaudited

**Statements of operations** for the six months ended June 30, 2025

(dollars in thousands)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Global** <br>**Growth** <br>**Fund**<br>| **Global** <br>**Small** <br>**Capitalization** <br>**Fund**<br>| **Growth** <br>**Fund**<br>| **International** <br>**Fund**<br>| **New** <br>**World** <br>**Fund**<br>|
| **Investment income:** |  |  |  |  |  |
| Income (net of non-U.S. taxes<sup>\*</sup>): |  |  |  |  |  |
| Dividends: |  |  |  |  |  |
| Unaffiliated issuers | $78930 | $22148 | $127325 | $103236 | $40021 |
| Affiliated issuers |  | 2399 | 28944 | 6773 | 2879 |
|  | 78930 | 24547 | 156269 | 110009 | 42900 |
| Interest from unaffiliated issuers | 322 | 544 | 47 | 326 | 5531 |
| Securities lending income (net of fees) | 24 | 170 | 101 | 30 | 33 |
|  | 79276 | 25261 | 156417 | 110365 | 48464 |
| Fees and expenses\*: |  |  |  |  |  |
| Investment advisory services | 18949 | 9266 | 71060 | 16287 | 9926 |
| Distribution services | 5501 | 2468 | 31424 | 4641 | 2023 |
| Insurance administrative services | 1233 | 392 | 7157 | 592 | 1046 |
| Transfer agent services | 1 | — <br><sup>†</sup><br>| 5 | 1 | — <br><sup>†</sup><br>|
| Administrative services | 1197 | 430 | 7012 | 1022 | 516 |
| Accounting and administrative services |  |  |  |  |  |
| Reports to shareholders | 32 | 15 | 216 | 27 | 10 |
| Registration statement and prospectus | 10 | 4 | 74 | 11 | 4 |
| Trustees' compensation | 14 | 5 | 81 | 12 | 6 |
| Auditing and legal | 18 | 38 | 45 | 23 | 16 |
| Custodian | 340 | 210 | 358 | 480 | 564 |
| Other | 5 | 22 | 24 | 4 | 25 |
| Total fees and expenses before waivers and/or reimbursements | 27300 | 12850 | 117456 | 23100 | 14136 |
| Less waivers and/or reimbursements of fees and expenses: |  |  |  |  |  |
| Investment advisory services waivers | 4251 | 622 |  |  | 1204 |
| Miscellaneous fee reimbursement |  |  |  |  |  |
| Total waivers and/or reimbursements of fees and expenses | 4251 | 622 |  |  | 1204 |
| Total fees and expenses after waivers and/or reimbursements | 23049 | 12228 | 117456 | 23100 | 12932 |
| Net investment income | 56227 | 13033 | 38961 | 87265 | 35532 |
| **Net realized gain (loss) and unrealized appreciation** <br> **(depreciation):**<br>|  |  |  |  |  |
| Net realized gain (loss)\* on: |  |  |  |  |  |
| Investments in: |  |  |  |  |  |
| Unaffiliated issuers | 212755 | 98985 | 2508111 | 442791 | 117197 |
| Affiliated issuers | (41)<br>| 2156 | (73)<br>| (59)<br>| (15)<br>|
| Options purchased (futures style) |  |  |  |  |  |
| Options written |  |  |  |  |  |
| Futures contracts |  |  |  |  | 50 |
| Forward currency contracts |  |  |  |  | (253)<br>|
| Swap contracts |  |  |  |  | (88)<br>|
| Currency transactions | (1087)<br>| 51 | 454 | 2634 | (175)<br>|
| Capital gain distributions received from affiliated issuers |  |  |  |  |  |
|  | 211627 | 101192 | 2508492 | 445366 | 116716 |
| Net unrealized appreciation (depreciation)\* on: |  |  |  |  |  |
| Investments in: |  |  |  |  |  |
| Unaffiliated issuers | 616756 | 126975 | 2234698 | 259557 | 355998 |
| Affiliated issuers | (39)<br>| (12779)<br>| (7)<br>| (34)<br>| (8)<br>|
| Options purchased (futures style) |  |  |  |  |  |
| Options written |  |  |  |  |  |
| Futures contracts |  |  |  |  | 50 |
| Forward currency contracts |  |  |  |  | (158)<br>|
| Swap contracts |  |  |  |  | 104 |
| Currency translations | 501 | 219 | 142 | 1164 | 458 |
|  | 617218 | 114415 | 2234833 | 260687 | 356444 |
| Net realized gain (loss) and unrealized appreciation <br>(depreciation)<br>| 828845 | 215607 | 4743325 | 706053 | 473160 |
| **Net increase (decrease) in net assets resulting from operations** | $885072 | $228640 | $4782286 | $793318 | $508692 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Refer to the end of the statements of operations for footnote(s).

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **282** |

---

------

Financial statements (continued) unaudited

**Statements of operations** for the six months ended June 30, 2025 (continued)

(dollars in thousands)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Washington** <br>**Mutual** <br>**Investors** <br>**Fund**<br>| **U.S. Small** <br>**and Mid** <br>**Cap Equity** <br>**Fund**<br>| **Capital** <br>**World Growth** <br>**and Income** <br>**Fund**<br>| **Growth-** <br>**Income** <br>**Fund**<br>| **International** <br>**Growth** <br>**and Income** <br>**Fund**<br>|
| **Investment income:** |  |  |  |  |  |
| Income (net of non-U.S. taxes<sup>\*</sup>): |  |  |  |  |  |
| Dividends: |  |  |  |  |  |
| Unaffiliated issuers | $105376 | $85 | $22810 | $272732 | $7423 |
| Affiliated issuers | 7099 | 7 | 1606 | 37275 | 272 |
|  | 112475 | 92 | 24416 | 310007 | 7695 |
| Interest from unaffiliated issuers | 14 | 1 | 80 | 83 | 2 |
| Securities lending income (net of fees) | 66 | 1 | 8 | 29 | 5 |
|  | 112555 | 94 | 24504 | 310119 | 7702 |
| Fees and expenses\*: |  |  |  |  |  |
| Investment advisory services | 20532 | 33 | 4458 | 49976 | 841 |
| Distribution services | 5985 | — <br><sup>†</sup><br>| 1600 | 20214 | 403 |
| Insurance administrative services | 2337 | — <br><sup>†</sup><br>| 361 | 3435 | 218 |
| Transfer agent services | 1 |  | — <br><sup>†</sup><br>| 5 | — <br><sup>†</sup><br>|
| Administrative services | 1647 | 2 | 282 | 6001 | 53 |
| Accounting and administrative services |  |  |  |  |  |
| Reports to shareholders | 11 | 2 | 5 | 186 | 6 |
| Registration statement and prospectus | 6 | 2 | 1 | 64 | — <br><sup>†</sup><br>|
| Trustees' compensation | 19 | — <br><sup>†</sup><br>| 4 | 69 | — <br><sup>†</sup><br>|
| Auditing and legal | 24 | 21 | 15 | 41 | 14 |
| Custodian | 111 | — <br><sup>†</sup><br>| 69 | 150 | 34 |
| Other | 6 | — <br><sup>†</sup><br>| 1 | 22 | — <br><sup>†</sup><br>|
| Total fees and expenses before waivers and/or reimbursements | 30679 | 60 | 6796 | 80163 | 1569 |
| Less waivers and/or reimbursements of fees and expenses: |  |  |  |  |  |
| Investment advisory services waivers | 7873 |  | 939 |  |  |
| Miscellaneous fee reimbursement |  | 21 |  |  |  |
| Total waivers and/or reimbursements of fees and expenses | 7873 | 21 | 939 |  |  |
| Total fees and expenses after waivers and/or reimbursements | 22806 | 39 | 5857 | 80163 | 1569 |
| Net investment income | 89749 | 55 | 18647 | 229956 | 6133 |
| **Net realized gain (loss) and unrealized appreciation** <br> **(depreciation):**<br>|  |  |  |  |  |
| Net realized gain (loss)\* on: |  |  |  |  |  |
| Investments in: |  |  |  |  |  |
| Unaffiliated issuers | 466620 | 1 | 94134 | 1545351 | 3484 |
| Affiliated issuers | (31)<br>| — <br><sup>†</sup><br>| (8)<br>| 6213 | — <br><sup>†</sup><br>|
| Options purchased (futures style) |  |  |  |  |  |
| Options written |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |
| Forward currency contracts |  |  |  |  | (19)<br>|
| Swap contracts |  |  |  |  |  |
| Currency transactions | (10)<br>|  | 146 | (671)<br>| 26 |
| Capital gain distributions received from affiliated issuers |  |  |  |  |  |
|  | 466579 | 1 | 94272 | 1550893 | 3491 |
| Net unrealized appreciation (depreciation)\* on: |  |  |  |  |  |
| Investments in: |  |  |  |  |  |
| Unaffiliated issuers | 422904 | 1052 | 120534 | 1519959 | 58509 |
| Affiliated issuers | (37)<br>| — <br><sup>†</sup><br>| (2)<br>| (101573)<br>| (1)<br>|
| Options purchased (futures style) |  |  |  |  |  |
| Options written |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |
| Forward currency contracts |  |  |  |  | (10)<br>|
| Swap contracts |  |  |  |  |  |
| Currency translations | 8 |  | 261 | 696 | 100 |
|  | 422875 | 1052 | 120793 | 1419082 | 58598 |
| Net realized gain (loss) and unrealized appreciation <br>(depreciation)<br>| 889454 | 1053 | 215065 | 2969975 | 62089 |
| **Net increase (decrease) in net assets resulting from operations** | $979203 | $1108 | $233712 | $3199931 | $68222 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Refer to the end of the statements of operations for footnote(s).

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **283** | American Funds Insurance Series |

---

------

Financial statements (continued) unaudited

**Statements of operations** for the six months ended June 30, 2025 (continued)

(dollars in thousands)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Capital** <br>**Income** <br>**Builder**<br>| **Asset** <br>**Allocation** <br>**Fund**<br>| **American** <br> **Funds** <br>**Global** <br>**Balanced** <br>**Fund**<br>| **The Bond** <br> **Fund** <br>**of America**<br>| **Capital** <br>**World Bond** <br>**Fund**<br>|
| **Investment income:** |  |  |  |  |  |
| Income (net of non-U.S. taxes<sup>\*</sup>): |  |  |  |  |  |
| Dividends: |  |  |  |  |  |
| Unaffiliated issuers | $22301 | $115625 | $3666 | $— | $87 |
| Affiliated issuers | 2604 | 57784 | 637 | 16350 | 1371 |
|  | 24905 | 173409 | 4303 | 16350 | 1458 |
| Interest from unaffiliated issuers | 4788 | 173336 | 2702 | 250561 | 32199 |
| Securities lending income (net of fees) | 19 | 67 | 1 |  |  |
|  | 29712 | 346812 | 7006 | 266911 | 33657 |
| Fees and expenses\*: |  |  |  |  |  |
| Investment advisory services | 2550 | 35056 | 884 | 19253 | 3116 |
| Distribution services | 854 | 13524 | 374 | 4906 | 1018 |
| Insurance administrative services | 847 | 8266 | 196 | 1815 | 126 |
| Transfer agent services | — <br><sup>†</sup><br>| 3 | — <br><sup>†</sup><br>| 1 | — <br><sup>†</sup><br>|
| Administrative services | 214 | 3972 | 60 | 1641 | 217 |
| Accounting and administrative services |  |  |  |  |  |
| Reports to shareholders | 6 | 58 | 5 | 48 | 6 |
| Registration statement and prospectus | 7 | 35 | 1 | 42 | 1 |
| Trustees' compensation | 3 | 45 | 1 | 18 | 3 |
| Auditing and legal | 29 | 39 | 20 | 8 | 1 |
| Custodian | 50 | 102 | 51 | 79 | 119 |
| Other | 1 | 17 | — <br><sup>†</sup><br>| 6 | 1 |
| Total fees and expenses before waivers and/or reimbursements | 4561 | 61117 | 1592 | 27817 | 4608 |
| Less waivers and/or reimbursements of fees and expenses: |  |  |  |  |  |
| Investment advisory services waivers | 929 |  | 27 | 8204 |  |
| Miscellaneous fee reimbursement |  |  |  |  |  |
| Total waivers and/or reimbursements of fees and expenses | 929 |  | 27 | 8204 |  |
| Total fees and expenses after waivers and/or reimbursements | 3632 | 61117 | 1565 | 19613 | 4608 |
| Net investment income | 26080 | 285695 | 5441 | 247298 | 29049 |
| **Net realized gain (loss) and unrealized appreciation** <br> **(depreciation):**<br>|  |  |  |  |  |
| Net realized gain (loss)\* on: |  |  |  |  |  |
| Investments in: |  |  |  |  |  |
| Unaffiliated issuers | 32418 | 1657001 | 10337 | (28295)<br>| (17007)<br>|
| Affiliated issuers |  | (136762)<br>| (3)<br>| 94 | (1)<br>|
| Options purchased (futures style) |  |  | (44)<br>|  | (399)<br>|
| Options written |  |  | 27 |  | 297 |
| Futures contracts | (329)<br>| 5194 | (227)<br>| (29364)<br>| (425)<br>|
| Forward currency contracts |  |  | (4788)<br>| (8500)<br>| 1112 |
| Swap contracts | 60 | (455)<br>| 6 | 5186 | 404 |
| Currency transactions | 4 | (536)<br>| (66)<br>| 22 | (406)<br>|
| Capital gain distributions received from affiliated issuers |  |  |  |  |  |
|  | 32153 | 1524442 | 5242 | (60857)<br>| (16425)<br>|
| Net unrealized appreciation (depreciation)\* on: |  |  |  |  |  |
| Investments in: |  |  |  |  |  |
| Unaffiliated issuers | 106144 | 112140 | 25483 | 205102 | 97958 |
| Affiliated issuers | 561 | 148001 | 70 | (208)<br>| 385 |
| Options purchased (futures style) |  |  | 7 |  | 64 |
| Options written |  |  | (5)<br>|  | 15 |
| Futures contracts | 2387 | 21662 | 519 | 71589 | 5267 |
| Forward currency contracts |  |  | (140)<br>| (4153)<br>| 118 |
| Swap contracts | (216)<br>| (884)<br>| 204 | 3548 | 3041 |
| Currency translations | 179 | 646 | 96 | 133 | 753 |
|  | 109055 | 281565 | 26234 | 276011 | 107601 |
| Net realized gain (loss) and unrealized appreciation <br>(depreciation)<br>| 141208 | 1806007 | 31476 | 215154 | 91176 |
| **Net increase (decrease) in net assets resulting from operations** | $167288 | $2091702 | $36917 | $462452 | $120225 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Refer to the end of the statements of operations for footnote(s).

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **284** |

---

------

Financial statements (continued) unaudited

**Statements of operations** for the six months ended June 30, 2025 (continued)

(dollars in thousands)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **American** <br>**High-Income** <br>**Trust**<br>| **American** <br> **Funds** <br>**Mortgage** <br> **Fund**<br>| **Ultra-Short** <br>**Bond Fund**<br>| **U.S.** <br>**Government** <br>**Securities** <br>**Fund**<br>| **Managed** <br>**Risk** <br>**Growth** <br>**Fund**<br>|
| **Investment income:** |  |  |  |  |  |
| Income (net of non-U.S. taxes<sup>\*</sup>): |  |  |  |  |  |
| Dividends: |  |  |  |  |  |
| Unaffiliated issuers | $789 | $— | $— | $— | $421 |
| Affiliated issuers | 863 |  |  |  | 1309 |
|  | 1652 |  |  |  | 1730 |
| Interest from unaffiliated issuers | 33248 | 3012 | 7558 | 42463 |  |
| Securities lending income (net of fees) |  |  |  |  |  |
|  | 34900 | 3012 | 7558 | 42463 | 1730 |
| Fees and expenses\*: |  |  |  |  |  |
| Investment advisory services | 1918 | 168 | 439 | 2661 | 333 |
| Distribution services | 888 | 117 | 382 | 1571 | 608 |
| Insurance administrative services | 225 | 69 | 88 | 638 | 625 |
| Transfer agent services | — <br><sup>†</sup><br>| — <br><sup>†</sup><br>| — <br><sup>†</sup><br>| — <br><sup>†</sup><br>| — <br><sup>†</sup><br>|
| Administrative services | 143 | 17 | 51 | 271 |  |
| Accounting and administrative services |  |  |  |  | 30 |
| Reports to shareholders | 7 | 5 | 6 | 8 |  |
| Registration statement and prospectus | 2 | 1 | 1 | 3 | 5 |
| Trustees' compensation | 1 | — <br><sup>†</sup><br>| — <br><sup>†</sup><br>| 3 | 1 |
| Auditing and legal | 9 | — <br><sup>†</sup><br>| — <br><sup>†</sup><br>| 1 | — <br><sup>†</sup><br>|
| Custodian | 12 | 8 | — <br><sup>†</sup><br>| 17 | 4 |
| Other | 10 | — <br><sup>†</sup><br>| — <br><sup>†</sup><br>| 1 | — <br><sup>†</sup><br>|
| Total fees and expenses before waivers and/or reimbursements | 3215 | 385 | 967 | 5174 | 1606 |
| Less waivers and/or reimbursements of fees and expenses: |  |  |  |  |  |
| Investment advisory services waivers | 570 | 44 |  | 661 | 83 |
| Miscellaneous fee reimbursement |  |  |  |  |  |
| Total waivers and/or reimbursements of fees and expenses | 570 | 44 |  | 661 | 83 |
| Total fees and expenses after waivers and/or reimbursements | 2645 | 341 | 967 | 4513 | 1523 |
| Net investment income | 32255 | 2671 | 6591 | 37950 | 207 |
| **Net realized gain (loss) and unrealized appreciation** <br> **(depreciation):**<br>|  |  |  |  |  |
| Net realized gain (loss)\* on: |  |  |  |  |  |
| Investments in: |  |  |  |  |  |
| Unaffiliated issuers | 730 | (49)<br>|  | 454 | (2283)<br>|
| Affiliated issuers | (6)<br>|  |  |  | 45859 |
| Options purchased (futures style) |  |  |  |  |  |
| Options written |  |  |  |  |  |
| Futures contracts | 160 | 243 |  | 6752 | (15006)<br>|
| Forward currency contracts |  |  |  |  |  |
| Swap contracts | (1)<br>| 9 |  | 2638 |  |
| Currency transactions | 9 |  |  |  | 123 |
| Capital gain distributions received from affiliated issuers |  |  |  |  | 34295 |
|  | 892 | 203 |  | 9844 | 62988 |
| Net unrealized appreciation (depreciation)\* on: |  |  |  |  |  |
| Investments in: |  |  |  |  |  |
| Unaffiliated issuers | 5595 | 1749 | (53)<br>| 23033 | 15 |
| Affiliated issuers | 2 |  |  |  | (34869)<br>|
| Options purchased (futures style) |  |  |  |  |  |
| Options written |  |  |  |  |  |
| Futures contracts | 214 | 920 |  | 16396 | (403)<br>|
| Forward currency contracts |  |  |  |  |  |
| Swap contracts | (525)<br>| (41)<br>|  | (2276)<br>|  |
| Currency translations | 3 |  |  |  |  |
|  | 5289 | 2628 | (53)<br>| 37153 | (35257)<br>|
| Net realized gain (loss) and unrealized appreciation <br>(depreciation)<br>| 6181 | 2831 | (53)<br>| 46997 | 27731 |
| **Net increase (decrease) in net assets resulting from operations** | $38436 | $5502 | $6538 | $84947 | $27938 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Refer to the end of the statements of operations for footnote(s).

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **285** | American Funds Insurance Series |

---

------

Financial statements (continued) unaudited

**Statements of operations** for the six months ended June 30, 2025 (continued)

(dollars in thousands)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Managed** <br>**Risk** <br>**International** <br>**Fund**<br>| **Managed Risk** <br>**Washington** <br>**Mutual** <br>**Investors** <br> **Fund**<br>| **Managed** <br>**Risk** <br>**Growth-** <br>**Income** <br>**Fund**<br>| **Managed** <br>**Risk** <br>**Asset** <br>**Allocation** <br>**Fund**<br>|
| **Investment income:** |  |  |  |  |
| Income (net of non-U.S. taxes<sup>\*</sup>): |  |  |  |  |
| Dividends: |  |  |  |  |
| Unaffiliated issuers | $100 | $280 | $1932 | $1845 |
| Affiliated issuers | 163 | 1190 | 6829 | 8184 |
|  | 263 | 1470 | 8761 | 10029 |
| Interest from unaffiliated issuers |  |  |  |  |
| Securities lending income (net of fees) |  |  |  |  |
|  | 263 | 1470 | 8761 | 10029 |
| Fees and expenses\*: |  |  |  |  |
| Investment advisory services | 75 | 208 | 1390 | 1290 |
| Distribution services | 138 | 388 | 327 | 2402 |
| Insurance administrative services | 141 | 391 | 2602 | 2416 |
| Transfer agent services | — <br><sup>†</sup><br>| — <br><sup>†</sup><br>| — <br><sup>†</sup><br>| — <br><sup>†</sup><br>|
| Administrative services |  |  |  |  |
| Accounting and administrative services | 26 | 28 | 45 | 44 |
| Reports to shareholders |  |  |  |  |
| Registration statement and prospectus | 5 | 5 | 4 | 5 |
| Trustees' compensation | — <br><sup>†</sup><br>| 1 | 3 | 3 |
| Auditing and legal | — <br><sup>†</sup><br>| — <br><sup>†</sup><br>| 2 | 1 |
| Custodian | 4 | 3 | 4 | 4 |
| Other | — <br><sup>†</sup><br>| — <br><sup>†</sup><br>| 1 | 1 |
| Total fees and expenses before waivers and/or reimbursements | 389 | 1024 | 4378 | 6166 |
| Less waivers and/or reimbursements of fees and expenses: |  |  |  |  |
| Investment advisory services waivers | 19 | 52 | 349 | 324 |
| Miscellaneous fee reimbursement | — <br><sup>†</sup><br>|  |  |  |
| Total waivers and/or reimbursements of fees and expenses | 19 | 52 | 349 | 324 |
| Total fees and expenses after waivers and/or reimbursements | 370 | 972 | 4029 | 5842 |
| Net investment income | (107)<br>| 498 | 4732 | 4187 |
| **Net realized gain (loss) and unrealized appreciation (depreciation):** |  |  |  |  |
| Net realized gain (loss)\* on: |  |  |  |  |
| Investments in: |  |  |  |  |
| Unaffiliated issuers | (561)<br>| (1416)<br>| (14007)<br>| (1782)<br>|
| Affiliated issuers | 2768 | 10111 | 54214 | (5123)<br>|
| Options purchased (futures style) |  |  |  |  |
| Options written |  |  |  |  |
| Futures contracts | (6387)<br>| (9931)<br>| (54893)<br>| (49874)<br>|
| Forward currency contracts |  |  |  |  |
| Swap contracts |  |  |  |  |
| Currency transactions | 33 | 47 | 205 | 177 |
| Capital gain distributions received from affiliated issuers |  | 17905 | 278792 | 127660 |
|  | (4147)<br>| 16716 | 264311 | 71058 |
| Net unrealized appreciation (depreciation)\* on: |  |  |  |  |
| Investments in: |  |  |  |  |
| Unaffiliated issuers | (152)<br>| (135)<br>| (1473)<br>| (299)<br>|
| Affiliated issuers | 8715 | (3939)<br>| (193572)<br>| 13191 |
| Options purchased (futures style) |  |  |  |  |
| Options written |  |  |  |  |
| Futures contracts | (227)<br>| 372 | 4222 | 1361 |
| Forward currency contracts |  |  |  |  |
| Swap contracts |  |  |  |  |
| Currency translations |  |  |  |  |
|  | 8336 | (3702)<br>| (190823)<br>| 14253 |
| Net realized gain (loss) and unrealized appreciation <br>(depreciation)<br>| 4189 | 13014 | 73488 | 85311 |
| **Net increase (decrease) in net assets resulting from operations** | $4082 | $13512 | $78220 | $89498 |

---

\*

Additional information related to non-U.S. taxes and class-specific fees and expenses is included in the notes to financial statements.

<sup>†</sup>

Amount less than one thousand.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **286** |

---

------

Financial statements (continued)

**Statements of changes in net assets**

(dollars in thousands)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Global Growth Fund** | **Global Growth Fund** | **Global Small** <br>**Capitalization Fund** | **Global Small** <br>**Capitalization Fund** | **Growth Fund** | **Growth Fund** |
|  | Six months <br>ended <br>June 30,<br>2025<sup>1</sup> | Year ended <br> December 31,<br>2024 | Six months <br>ended <br>June 30,<br>2025<sup>1</sup> | Year ended <br> December 31,<br>2024 | Six months <br>ended <br>June 30,<br>2025<sup>1</sup> | Year ended <br> December 31,<br>2024 |
| **Operations:** |  |  |  |  |  |  |
| Net investment income (loss) | $56227 | $83934 | $13033 | $14439 | $38961 | $123765 |
| Net realized gain (loss) | 211627 | 1058571 | 101192 | 67213 | 2508492 | 3989653 |
| Net unrealized appreciation (depreciation) | 617218 | (106961)<br>| 114415 | (6037)<br>| 2234833 | 7880200 |
| Net increase (decrease) in net assets resulting from <br> operations<br>| 885072 | 1035544 | 228640 | 75615 | 4782286 | 11993618 |
| **Distributions paid to shareholders** | (1069091)<br>| (362247)<br>| (65735)<br>| (145595)<br>| (4035332)<br>| (1183768)<br>|
| **Net capital share transactions** | 717148 | (305156)<br>| (86887)<br>| (124117)<br>| 2839871 | (2405717)<br>|
| **Total increase (decrease) in net assets** | 533129 | 368141 | 76018 | (194097)<br>| 3586825 | 8404133 |
| **Net assets:** |  |  |  |  |  |  |
| Beginning of period | 8058323 | 7690182 | 2990459 | 3184556 | 47702943 | 39298810 |
| End of period | $8591452 | $8058323 | $3066477 | $2990459 | $51289768 | $47702943 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **International Fund** | **International Fund** | **New World Fund** | **New World Fund** | **Washington Mutual** <br>**Investors Fund** | **Washington Mutual** <br>**Investors Fund** |
|  | Six months <br>ended <br>June 30,<br>2025<sup>1</sup> | Year ended <br> December 31,<br>2024 | Six months <br>ended <br>June 30,<br>2025<sup>1</sup> | Year ended <br> December 31,<br>2024 | Six months <br>ended <br>June 30,<br>2025<sup>1</sup> | Year ended <br> December 31,<br>2024 |
| **Operations:** |  |  |  |  |  |  |
| Net investment income (loss) | $87265 | $80016 | $35532 | $49823 | $89749 | $178541 |
| Net realized gain (loss) | 445366 | 335500 | 116716 | 148263 | 466579 | 784826 |
| Net unrealized appreciation (depreciation) | 260687 | (158907)<br>| 356444 | 26354 | 422875 | 937617 |
| Net increase (decrease) in net assets resulting from <br> operations<br>| 793318 | 256609 | 508692 | 224440 | 979203 | 1900984 |
| **Distributions paid to shareholders** | (2865)<br>| (91320)<br>| (152884)<br>| (66666)<br>| (812730)<br>| (270276)<br>|
| **Net capital share transactions** | (368267)<br>| (557783)<br>| (39747)<br>| (124462)<br>| 439202 | (851035)<br>|
| **Total increase (decrease) in net assets** | 422186 | (392494)<br>| 316061 | 33312 | 605675 | 779673 |
| **Net assets:** |  |  |  |  |  |  |
| Beginning of period | 6786518 | 7179012 | 3411599 | 3378287 | 11066014 | 10286341 |
| End of period | $7208704 | $6786518 | $3727660 | $3411599 | $11671689 | $11066014 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Refer to the end of the statements of changes in net assets for footnote(s).

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **287** | American Funds Insurance Series |

---

------

Financial statements (continued)

**Statements of changes in net assets** (continued)

(dollars in thousands)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **U.S. Small and Mid** <br>**Cap Equity Fund** | **U.S. Small and Mid** <br>**Cap Equity Fund** | **Capital** <br>**World Growth** <br>**and Income Fund** | **Capital** <br>**World Growth** <br>**and Income Fund** | **Growth-Income Fund** | **Growth-Income Fund** |
|  | Six months <br>ended <br>June 30,<br>2025<sup>1</sup> | Period <br>ended <br>December 31,<br>2024<sup>2</sup> | Six months <br>ended <br>June 30,<br>2025<sup>1</sup> | Year ended <br> December 31,<br>2024 | Six months <br>ended <br>June 30,<br>2025<sup>1</sup> | Year ended <br> December 31,<br>2024 |
| **Operations:** |  |  |  |  |  |  |
| Net investment income (loss) | $55 | $13 | $18647 | $29625 | $229956 | $464425 |
| Net realized gain (loss) | 1 | 4 | 94272 | 142599 | 1550893 | 6999624 |
| Net unrealized appreciation (depreciation) | 1052 | (438)<br>| 120793 | 78887 | 1419082 | 1206283 |
| Net increase (decrease) in net assets resulting from <br> operations<br>| 1108 | (421)<br>| 233712 | 251111 | 3199931 | 8670332 |
| **Distributions paid to shareholders** | (5)<br>| (13)<br>| (75167)<br>| (32476)<br>| (7076713)<br>| (2264497)<br>|
| **Net capital share transactions** | 73 | 15013 | (49160)<br>| (191651)<br>| 5184105 | (2602817)<br>|
| **Total increase (decrease) in net assets** | 1176 | 14579 | 109385 | 26984 | 1307323 | 3803018 |
| **Net assets:** |  |  |  |  |  |  |
| Beginning of period | 14579 |  | 1888319 | 1861335 | 41254994 | 37451976 |
| End of period | $15755 | $14579 | $1997704 | $1888319 | $42562317 | $41254994 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**International Growth** <br>**and Income Fund** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**International Growth** <br>**and Income Fund** | **Capital Income Builder** | **Capital Income Builder** | **Asset Allocation Fund** | **Asset Allocation Fund** |
|  | Six months <br>ended <br>June 30,<br>2025<sup>1</sup> | Year ended <br> December 31,<br>2024 | Six months <br>ended <br>June 30,<br>2025<sup>1</sup> | Year ended <br> December 31,<br>2024 | Six months <br>ended <br>June 30,<br>2025<sup>1</sup> | Year ended <br> December 31,<br>2024 |
| **Operations:** |  |  |  |  |  |  |
| Net investment income (loss) | $6133 | $7648 | $26080 | $42544 | $285695 | $590761 |
| Net realized gain (loss) | 3491 | (1592)<br>| 32153 | 24024 | 1524442 | 1925378 |
| Net unrealized appreciation (depreciation) | 58598 | 5162 | 109055 | 61325 | 281565 | 1576776 |
| Net increase (decrease) in net assets resulting from <br> operations<br>| 68222 | 11218 | 167288 | 127893 | 2091702 | 4092915 |
| **Distributions paid to shareholders** | (1423)<br>| (8098)<br>| (16131)<br>| (45676)<br>| (2025651)<br>| (1743267)<br>|
| **Net capital share transactions** | 6613 | (9047)<br>| 46498 | 35182 | 523850 | (949298)<br>|
| **Total increase (decrease) in net assets** | 73412 | (5927)<br>| 197655 | 117399 | 589901 | 1400350 |
| **Net assets:** |  |  |  |  |  |  |
| Beginning of period | 322653 | 328580 | 1368668 | 1251269 | 27085680 | 25685330 |
| End of period | $396065 | $322653 | $1566323 | $1368668 | $27675581 | $27085680 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Refer to the end of the statements of changes in net assets for footnote(s).

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **288** |

---

------

Financial statements (continued)

**Statements of changes in net assets** (continued)

(dollars in thousands)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **American Funds** <br>**Global Balanced Fund** | **American Funds** <br>**Global Balanced Fund** | **The Bond Fund** <br>**of America** | **The Bond Fund** <br>**of America** | **Capital World Bond Fund** | **Capital World Bond Fund** |
|  | Six months <br>ended <br>June 30,<br>2025<sup>1</sup> | Year ended <br> December 31,<br>2024 | Six months <br>ended <br>June 30,<br>2025<sup>1</sup> | Year ended <br> December 31,<br>2024 | Six months <br>ended <br>June 30,<br>2025<sup>1</sup> | Year ended <br> December 31,<br>2024 |
| **Operations:** |  |  |  |  |  |  |
| Net investment income (loss) | $5441 | $9318 | $247298 | $501464 | $29049 | $61225 |
| Net realized gain (loss) | 5242 | 16800 | (60857)<br>| (134500)<br>| (16425)<br>| (22949)<br>|
| Net unrealized appreciation (depreciation) | 26234 | (1065)<br>| 276011 | (207188)<br>| 107601 | (80072)<br>|
| Net increase (decrease) in net assets resulting from <br> operations<br>| 36917 | 25053 | 462452 | 159776 | 120225 | (41796)<br>|
| **Distributions paid to shareholders** | (16555)<br>| (7048)<br>| (96658)<br>| (475626)<br>| (3588)<br>| (33915)<br>|
| **Net capital share transactions** | 5945 | (14487)<br>| (567129)<br>| 474834 | (92920)<br>| (16393)<br>|
| **Total increase (decrease) in net assets** | 26307 | 3518 | (201335)<br>| 158984 | 23717 | (92104)<br>|
| **Net assets:** |  |  |  |  |  |  |
| Beginning of period | 392282 | 388764 | 11166898 | 11007914 | 1448237 | 1540341 |
| End of period | $418589 | $392282 | $10965563 | $11166898 | $1471954 | $1448237 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **American** <br>**High-Income Trust** | **American** <br>**High-Income Trust** | **American Funds** <br>**Mortgage Fund** | **American Funds** <br>**Mortgage Fund** | **Ultra-Short Bond Fund** | **Ultra-Short Bond Fund** |
|  | Six months <br>ended <br>June 30,<br>2025<sup>1</sup> | Year ended <br> December 31,<br>2024 | Six months <br>ended <br>June 30,<br>2025<sup>1</sup> | Year ended <br> December 31,<br>2024 | Six months <br>ended <br>June 30,<br>2025<sup>1</sup> | Year ended <br> December 31,<br>2024 |
| **Operations:** |  |  |  |  |  |  |
| Net investment income (loss) | $32255 | $60672 | $2671 | $5237 | $6591 | $16889 |
| Net realized gain (loss) | 892 | 3094 | 203 | (1054)<br>|  | — <br><sup>3</sup><br>|
| Net unrealized appreciation (depreciation) | 5289 | 19028 | 2628 | (3372)<br>| (53)<br>| 130 |
| Net increase (decrease) in net assets resulting from <br> operations<br>| 38436 | 82794 | 5502 | 811 | 6538 | 17019 |
| **Distributions paid to shareholders** | (10773)<br>| (59402)<br>| (896)<br>| (5001)<br>| (2557)<br>| (17633)<br>|
| **Net capital share transactions** | 35313 | 34726 | 2704 | 7230 | (18429)<br>| (33462)<br>|
| **Total increase (decrease) in net assets** | 62976 | 58118 | 7310 | 3040 | (14448)<br>| (34076)<br>|
| **Net assets:** |  |  |  |  |  |  |
| Beginning of period | 931963 | 873845 | 110831 | 107791 | 338678 | 372754 |
| End of period | $994939 | $931963 | $118141 | $110831 | $324230 | $338678 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Refer to the end of the statements of changes in net assets for footnote(s).

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **289** | American Funds Insurance Series |

---

------

Financial statements (continued)

**Statements of changes in net assets** (continued)

(dollars in thousands)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **U.S. Government** <br>**Securities Fund** | **U.S. Government** <br>**Securities Fund** | **Managed Risk** <br>**Growth Fund** | **Managed Risk** <br>**Growth Fund** | **Managed Risk** <br>**International Fund** | **Managed Risk** <br>**International Fund** |
|  | Six months <br>ended <br>June 30,<br>2025<sup>1</sup> | Year ended <br> December 31,<br>2024 | Six months <br>ended <br>June 30,<br>2025<sup>1</sup> | Year ended <br> December 31,<br>2024 | Six months <br>ended <br>June 30,<br>2025<sup>1</sup> | Year ended <br> December 31,<br>2024 |
| **Operations:** |  |  |  |  |  |  |
| Net investment income (loss) | $37950 | $72049 | $207 | $2764 | $(107)<br>| $1470 |
| Net realized gain (loss) | 9844 | (1294)<br>| 62988 | 37612 | (4147)<br>| (2539)<br>|
| Net unrealized appreciation (depreciation) | 37153 | (55237)<br>| (35257)<br>| 69526 | 8336 | 1155 |
| Net increase (decrease) in net assets resulting from <br> operations<br>| 84947 | 15518 | 27938 | 109902 | 4082 | 86 |
| **Distributions paid to shareholders** | (14197)<br>| (73267)<br>| (24752)<br>| (2419)<br>| (1480)<br>| (1561)<br>|
| **Net capital share transactions** | (73399)<br>| 353747 | (9503)<br>| (88856)<br>| (2829)<br>| (8399)<br>|
| **Total increase (decrease) in net assets** | (2649)<br>| 295998 | (6317)<br>| 18627 | (227)<br>| (9874)<br>|
| **Net assets:** |  |  |  |  |  |  |
| Beginning of period | 1820027 | 1524029 | 526262 | 507635 | 114308 | 124182 |
| End of period | $1817378 | $1820027 | $519945 | $526262 | $114081 | $114308 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Managed Risk** <br>**Washington Mutual** <br>**Investors Fund** | **Managed Risk** <br>**Washington Mutual** <br>**Investors Fund** | **Managed Risk** <br>**Growth-Income Fund** | **Managed Risk** <br>**Growth-Income Fund** | **Managed Risk** <br>**Asset Allocation Fund** | **Managed Risk** <br>**Asset Allocation Fund** |
|  | Six months <br>ended <br>June 30,<br>2025<sup>1</sup> | Year ended <br> December 31,<br>2024 | Six months <br>ended <br>June 30,<br>2025<sup>1</sup> | Year ended <br> December 31,<br>2024 | Six months <br>ended <br>June 30,<br>2025<sup>1</sup> | Year ended <br> December 31,<br>2024 |
| **Operations:** |  |  |  |  |  |  |
| Net investment income (loss) | $498 | $4979 | $4732 | $33950 | $4187 | $37923 |
| Net realized gain (loss) | 16716 | (4225)<br>| 264311 | 73326 | 71058 | 123915 |
| Net unrealized appreciation (depreciation) | (3702)<br>| 42170 | (190823)<br>| 261435 | 14253 | 124394 |
| Net increase (decrease) in net assets resulting from <br> operations<br>| 13512 | 42924 | 78220 | 368711 | 89498 | 286232 |
| **Distributions paid to shareholders** | (4680)<br>| (5475)<br>| (109558)<br>| (65908)<br>| (156085)<br>| (69126)<br>|
| **Net capital share transactions** | (12974)<br>| (39434)<br>| (22573)<br>| (313193)<br>| (5394)<br>| (294452)<br>|
| **Total increase (decrease) in net assets** | (4142)<br>| (1985)<br>| (53911)<br>| (10390)<br>| (71981)<br>| (77346)<br>|
| **Net assets:** |  |  |  |  |  |  |
| Beginning of period | 322206 | 324191 | 2176866 | 2187256 | 2025850 | 2103196 |
| End of period | $318064 | $322206 | $2122955 | $2176866 | $1953869 | $2025850 |

---

<sup>1</sup>

Unaudited.

<sup>2</sup>

For the period November 15, 2024, commencement of operations, to December 31, 2024.

<sup>3</sup>

Amount less than one thousand.

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **290** |

---

------

Notes to financial statementsunaudited

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**1. Organization**

------

American Funds Insurance Series (the "series") is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end management investment company with 42 different funds ("the funds"), including 24 funds in the series covered in this report. The series consists of 41 diversified funds and one nondiversified fund: U.S. Small and Mid Cap Equity Fund. The other 18 funds in the series are covered in separate reports. Thirteen funds in the series are covered in the American Funds Insurance Series - Target Date Series report and five funds in the series are covered in the American Funds Insurance Series - Portfolio Series report. The assets of each fund are segregated, with each fund accounted for separately. Capital Research and Management Company ("CRMC") is the series' investment adviser. Milliman Financial Risk Management LLC ("Milliman FRM") is the subadviser for the risk management strategy for eight of the funds (the "managed risk funds"), five of which are covered in this report.

The managed risk funds covered in this report are Managed Risk Growth Fund, Managed Risk International Fund, Managed Risk Washington Mutual Investors Fund, Managed Risk Growth-Income Fund and Managed Risk Asset Allocation Fund. The managed risk funds invest in other funds within the series (the "underlying funds") and employ Milliman FRM to implement the risk management strategy, which consists of using hedging instruments — primarily exchange-traded options and futures contracts — to attempt to stabilize the volatility of the funds around target volatility levels and reduce the downside exposure of the funds during periods of significant market declines.

Shareholders approved a proposal to reorganize the series from a Massachusetts business trust to a Delaware statutory trust. The series reserved the right to delay implementing the reorganization and has elected to do so.

The investment objective(s) for each fund covered in this report are as follows:

**Global Growth Fund** — To provide long-term growth of capital.

**Global Small Capitalization Fund** — To provide long-term growth of capital.

**Growth Fund** — To provide growth of capital.

**International Fund** — To provide long-term growth of capital.

**New World Fund** — To provide long-term capital appreciation.

**Washington Mutual Investors Fund** — To produce income and to provide an opportunity for growth of principal consistent with sound common stock investing.

**U.S. Small and Mid Cap Equity Fund** — To provide capital appreciation.

**Capital World Growth and Income Fund** — To provide long-term growth of capital while providing current income.

**Growth-Income Fund** — To achieve long-term growth of capital and income.

**International Growth and Income Fund** — To provide long-term growth of capital while providing current income.

**Capital Income Builder** — The two primary objectives are (1) to provide a level of current income that exceeds the average yield on U.S. stocks generally and (2) to provide a growing stream of income over the years. The secondary objective is to provide growth of capital.

**Asset Allocation Fund** — To provide high total return (including income and capital gains) consistent with preservation of capital over the long term.

**American Funds Global Balanced Fund** — Seeks the balanced accomplishment of three objectives: long-term growth of capital, conservation of principal and current income.

**The Bond Fund of America** — To provide as high a level of current income as is consistent with the preservation of capital.

**Capital World Bond Fund** — To provide, over the long term, a high level of total return consistent with prudent investment management.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **291** | American Funds Insurance Series |

---

------

**American High-Income Trust** — The primary objective is to provide a high level of current income. The secondary objective is capital appreciation.

**American Funds Mortgage Fund** — To provide current income and preservation of capital.

**Ultra-Short Bond Fund** — To provide current income, consistent with the maturity and quality standards applicable to the fund, and preservation of capital and liquidity.

**U.S. Government Securities Fund**— To provide a high level of current income consistent with prudent investment risk and preservation of capital.

**Managed Risk Growth Fund** — To provide growth of capital while seeking to manage volatility and provide downside protection.

**Managed Risk International Fund** — To provide long-term growth of capital while seeking to manage volatility and provide downside protection.

**Managed Risk Washington Mutual Investors Fund** — To produce income and to provide an opportunity for growth of principal consistent with sound common stock investing while seeking to manage volatility and provide downside protection.

**Managed Risk Growth-Income Fund** — To achieve long-term growth of capital and income while seeking to manage volatility and provide downside protection.

**Managed Risk Asset Allocation Fund** — To provide high total return (including income and capital gains) consistent with preservation of capital over the long term while seeking to manage volatility and provide downside protection.

Each fund in the series, except the managed risk funds, offers either four or five share classes (Classes 1, 1A, 2, 3 or 4); the managed risk funds offer two share classes (Classes P1 and P2). Holders of all share classes of each fund have equal pro rata rights to assets, dividends and liquidation proceeds of each fund held. Each share class of each fund has identical voting rights, except for the exclusive right to vote on matters affecting only its class. Share classes have different fees and expenses ("class-specific fees and expenses"), primarily due to different arrangements for certain distribution expenses. Differences in class-specific fees and expenses will result in differences in net investment income and, therefore, the payment of different per-share dividends by each class of each fund.

**2. Significant accounting policies**

------

Each fund is an investment company that applies the accounting and reporting guidance issued in Topic 946 by the U.S. Financial Accounting Standards Board ("FASB"). Each fund's financial statements have been prepared to comply with U.S. generally accepted accounting principles ("U.S. GAAP"). These principles require the series' investment adviser to make estimates and assumptions that affect reported amounts and disclosures. Actual results could differ from those estimates. Subsequent events, if any, have been evaluated through the date of issuance in the preparation of the financial statements. The funds follow the significant accounting policies described in this section, as well as the valuation policies described in the next section on valuation.

**Operating segments** — Each fund represents a single operating segment as the operating results of each fund are monitored as a whole and its long-term asset allocation is determined in accordance with the terms of its prospectus, based on defined investment objectives that are executed by the fund's portfolio management team. A senior executive team comprised of the funds' Principal Executive Officer and Principal Financial Officer, serves as the funds' chief operating decision maker ("CODM"), who act in accordance with Board of Trustee reviews and approvals. The CODM uses financial information, such as changes in net assets from operations, changes in net assets from fund share transactions, and income and expense ratios, consistent with that presented within the accompanying financial statements and financial highlights to assess each fund's profits and losses and to make resource allocation decisions. Segment assets are reflected in the statement of assets and liabilities as net assets, which consists primarily of investment securities, at value, and significant segment expenses are listed in the accompanying statement of operations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **292** |

---

------

**Security transactions and related investment income** — Security transactions are recorded by each fund as of the date the trades are executed with brokers. Realized gains and losses from security transactions are determined based on the specific identified cost of the securities. In the event a security is purchased with a delayed payment date, each fund will segregate liquid assets sufficient to meet their payment obligations. Dividend income is recognized on the ex-dividend date and interest income is recognized on an accrual basis. Market discounts, premiums and original issue discounts on fixed-income securities are amortized daily over the expected life of the security.

**Fees and expenses** — The fees and expenses of the underlying funds held by the managed risk funds are not included in the fees and expenses reported for each of the managed risk funds; however, they are indirectly reflected in the valuation of each of the underlying funds. These fees are included in the unaudited net effective expense ratios that are provided as additional information in the financial highlights tables.

**Class allocations** — Income, fees and expenses (other than class-specific fees and expenses), realized gains and losses and unrealized appreciation and depreciation are allocated daily among the various share classes of each fund based on their relative net assets. Class-specific fees and expenses, such as distribution expenses, are accrued daily and charged directly to the respective share class of each fund.

**Distributions paid to shareholders** — Income dividends and capital gain distributions are recorded on each fund's ex-dividend date.

**Currency translation** — Assets and liabilities, including investment securities, denominated in currencies other than U.S. dollars are translated into U.S. dollars at the exchange rates supplied by one or more pricing vendors on the valuation date. Purchases and sales of investment securities and income and expenses are translated into U.S. dollars at the exchange rates on the dates of such transactions. The effects of changes in exchange rates on investment securities are included with the net realized gain or loss and net unrealized appreciation or depreciation on investments in the funds' statements of operations. The realized gain or loss and unrealized appreciation or depreciation resulting from all other transactions denominated in currencies other than U.S. dollars are disclosed separately.

**New accounting pronouncements** — In December 2023, the FASB issued Accounting Standards Update 2023-09 ("the ASU"), Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which enhances income tax disclosures, including disclosure of income taxes paid disaggregated by jurisdiction. The ASU is effective for annual periods beginning after December 15, 2024, with early adoption permitted. Management is currently evaluating the ASU and its impact to the financial statements.

**3. Valuation**

------

CRMC, the series' investment adviser, values the funds' investments at fair value as defined by U.S. GAAP. The net asset value per share is calculated once daily as of the close of regular trading on the New York Stock Exchange, normally 4 p.m. New York time, each day the New York Stock Exchange is open.

**Methods and inputs** — The series' investment adviser uses the following methods and inputs to establish the fair value of each fund's assets and liabilities. Use of particular methods and inputs may vary over time based on availability and relevance as market and economic conditions evolve.

Equity securities, including depositary receipts, are generally valued at the official closing price of, or the last reported sale price on, the exchange or market on which such securities are traded, as of the close of business on the day the securities are being valued or, lacking any sales, at the last available bid price. Prices for each security are taken from the principal exchange or market on which the security trades. The value of an underlying fund is based on its reported net asset value.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **293** | American Funds Insurance Series |

---

------

Fixed-income securities, including short-term securities, are generally valued at evaluated prices obtained from third-party pricing vendors. Vendors value such securities based on one or more of the inputs described in the following table. The table provides examples of inputs that are commonly relevant for valuing particular classes of fixed-income securities in which the funds are authorized to invest. However, these classifications are not exclusive and any of the inputs may be used to value any other class of fixed-income security.

---

| | |
|:---|:---|
| **Fixed-income class** | **Examples of standard inputs** |
| All | &nbsp;&nbsp; Benchmark yields, transactions, bids, offers, quotations from dealers and <br> trading systems, new issues, spreads and other relationships observed in <br> the markets among comparable securities; and proprietary pricing <br> models such as yield measures calculated using factors such as cash <br> flows, financial or collateral performance and other reference data <br> (collectively referred to as "standard inputs")<br>|
| Corporate bonds, notes & loans; convertible securities | Standard inputs and underlying equity of the issuer |
| Bonds & notes of governments & government agencies | Standard inputs and interest rate volatilities |
| Mortgage-backed; asset-backed obligations | &nbsp;&nbsp; Standard inputs and cash flows, prepayment information, default rates, <br> delinquency and loss assumptions, collateral characteristics, credit <br> enhancements and specific deal information<br>|
| Municipal securities | &nbsp;&nbsp; Standard inputs and, for certain distressed securities, cash flows or <br> liquidation values using a net present value calculation based on inputs <br> that include, but are not limited to, financial statements and debt <br> contracts <br>|

---

Securities with both fixed-income and equity characteristics, or equity securities traded principally among fixed-income dealers, are generally valued in the manner described for either equity or fixed-income securities, depending on which method is deemed most appropriate by the series' investment adviser. The Capital Group Central Corporate Bond Fund ("CCBF"), a fund within the Capital Group Central Fund Series II, and Capital Group Central Cash Fund ("CCF"), a fund within the Capital Group Central Fund Series (collectively the "Central Funds"), are each valued based upon a floating net asset value, which fluctuates with changes in the value of each fund's portfolio securities. The underlying securities are valued based on the policies and procedures in the Central Funds' statements of additional information. The State Street Institutional U.S. Government Money Market Fund held by the managed risk funds is managed to maintain a $1.00 net asset value per share. The net asset value of each share class of each managed risk fund is calculated based on the reported net asset values of the underlying funds in which each fund invests.

Exchange-traded options and futures are generally valued at the official closing price for options and official settlement price for futures on the exchange or market on which such instruments are traded, as of the close of business on the day such instruments are being valued. Forward currency contracts are valued based on the spot and forward exchange rates obtained from a third-party pricing vendor. Swaps and over-the-counter (OTC) options are generally valued using evaluated prices obtained from third-party pricing vendors who calculate these values based on market inputs that may include the yields of the indices referenced in the instrument and the relevant curve, dealer quotes, default probabilities and recovery rates, exchange rates, implied option volatilites, and terms of the contract.

Securities and other assets for which representative market quotations are not readily available or are considered unreliable by the series' investment adviser are fair valued as determined in good faith under fair value guidelines adopted by the series' investment adviser and approved by the board of trustees as further described. The investment adviser follows fair valuation guidelines, consistent with U.S. Securities and Exchange Commission rules and guidance, to consider relevant principles and factors when making fair value determinations. The investment adviser considers relevant indications of value that are reasonably and timely available to it in determining the fair value to be assigned to a particular security, such as the type and cost of the security, restrictions on resale of the security, relevant financial or business developments of the issuer, actively traded similar or related securities, dealer or broker quotes, conversion or exchange rights on the security, related corporate actions, significant events occurring after the close of trading in the security, and changes in overall market conditions. In addition, the closing prices of equity securities and futures that trade in markets outside U.S. time zones may be adjusted to reflect significant events that occur after the close of local trading but before the net asset value of each share class of each fund is determined. Fair valuations of investments that are not actively trading involve judgment and may differ materially from valuations that would have been used had greater market activity occurred.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **294** |

---

------

**Processes and structure** — The series' board of trustees has designated the series' investment adviser to make fair value determinations, subject to board oversight. The investment adviser has established a Joint Fair Valuation Committee (the "Committee") to administer, implement and oversee the fair valuation process, and to make fair value decisions. The Committee regularly reviews its own fair value decisions, as well as decisions made under its standing instructions to the investment adviser's valuation team. The Committee reviews changes in fair value measurements from period to period, pricing vendor information and market data, and may, as deemed appropriate, update the fair valuation guidelines to better reflect the results of back testing and address new or evolving issues. Pricing decisions, processes and controls over security valuation are also subject to additional internal reviews facilitated by the investment adviser's global risk management group. The Committee reports changes to the fair valuation guidelines to the board of trustees. The series' board and audit committee also regularly review reports that describe fair value determinations and methods.

**Classifications** — The series' investment adviser classifies the funds' assets and liabilities into three levels based on the inputs used to value the assets or liabilities. Level 1 values are based on quoted prices in active markets for identical securities. Level 2 values are based on significant observable market inputs, such as quoted prices for similar securities and quoted prices in inactive markets. Certain securities trading outside the U.S. may transfer between Level 1 and Level 2 due to valuation adjustments resulting from significant market movements following the close of local trading. Level 3 values are based on significant unobservable inputs that reflect the investment adviser's determination of assumptions that market participants might reasonably use in valuing the securities.

The valuation levels are not necessarily an indication of the risk or liquidity associated with the underlying investment. For example, U.S. government securities are reflected as Level 2 because the inputs used to determine fair value may not always be quoted prices in an active market. The funds' valuation levels as of June 30, 2025, were as follows (dollars in thousands):

**Global Growth Fund**

As of June 30, 2025, all of the fund's investment securities were classified as Level 1.

**Global Small Capitalization Fund** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Investment securities** | **Investment securities** | **Investment securities** | **Investment securities** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Assets: |  |  |  |  |
| Common stocks: |  |  |  |  |
| Industrials | $689754 | $— | $— | $689754 |
| Financials | 473223 |  |  | 473223 |
| Information technology | 403781 |  | 428 | 404209 |
| Consumer discretionary | 382656 |  |  | 382656 |
| Health care | 353674 |  |  | 353674 |
| Materials | 181377 |  |  | 181377 |
| Communication services | 134493 |  |  | 134493 |
| Real estate | 79192 |  |  | 79192 |
| Consumer staples | 76756 |  |  | 76756 |
| Energy | 76013 |  |  | 76013 |
| Utilities | 58664 |  |  | 58664 |
| Preferred securities  | 9138 |  | 14522 | 23660 |
| Convertible stocks  | 13046 |  |  | 13046 |
| Convertible bonds & notes  |  | 4039 |  | 4039 |
| Short-term securities | 161954 |  |  | 161954 |
| Total | $3093721 | $4039 | $14950 | $3112710 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **295** | American Funds Insurance Series |

---

------

**Growth Fund** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Investment securities** | **Investment securities** | **Investment securities** | **Investment securities** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Assets: |  |  |  |  |
| Common stocks: |  |  |  |  |
| Information technology | $13898317 | $— | $5985 | $13904302 |
| Communication services | 10248832 |  |  | 10248832 |
| Consumer discretionary | 7058073 |  |  | 7058073 |
| Health care | 5661824 |  | 9825 | 5671649 |
| Industrials | 5401182 |  | 2633 | 5403815 |
| Financials | 4094384 |  |  | 4094384 |
| Consumer staples | 1049326 |  | 2671 | 1051997 |
| Energy | 1016036 |  |  | 1016036 |
| Materials | 726868 |  |  | 726868 |
| Utilities | 358047 |  |  | 358047 |
| Real estate | 309468 |  |  | 309468 |
| Preferred securities  |  |  | 146802 | 146802 |
| Rights & warrants  |  |  | 22672 | 22672 |
| Convertible stocks  | 4131 |  | 686 | 4817 |
| Short-term securities | 1569711 |  |  | 1569711 |
| Total | $51396199 | $— | $191274 | $51587473 |

---

**International Fund** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Investment securities** | **Investment securities** | **Investment securities** | **Investment securities** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Assets: |  |  |  |  |
| Common stocks: |  |  |  |  |
| Industrials | $1316771 | $— | $— | $1316771 |
| Financials | 1183785 |  |  | 1183785 |
| Information technology | 951942 |  | 6168 | 958110 |
| Communication services | 655458 |  |  | 655458 |
| Consumer discretionary | 650213 |  |  | 650213 |
| Health care | 621389 |  |  | 621389 |
| Materials | 567220 |  |  | 567220 |
| Consumer staples | 430268 |  |  | 430268 |
| Energy | 396129 |  |  | 396129 |
| Utilities | 116308 |  |  | 116308 |
| Preferred securities  | 32903 |  | 565 | 33468 |
| Rights & warrants  |  |  | —<br> \*<br>| —<br> \*<br>|
| Short-term securities | 330868 |  |  | 330868 |
| Total | $7253254 | $— | $6733 | $7259987 |

---

\*

Amount less than one thousand.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **296** |

---

------

**New World Fund** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Investment securities** | **Investment securities** | **Investment securities** | **Investment securities** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Assets: |  |  |  |  |
| Common stocks: |  |  |  |  |
| Financials | $704693 | $2554 | $—<br> \*<br>| $707247 |
| Information technology | 676770 |  | 493 | 677263 |
| Consumer discretionary | 450359 |  |  | 450359 |
| Industrials | 412982 |  |  | 412982 |
| Communication services | 363276 |  |  | 363276 |
| Health care | 228078 |  |  | 228078 |
| Consumer staples | 224042 |  |  | 224042 |
| Materials | 183568 |  | —<br> \*<br>| 183568 |
| Energy | 83019 |  | —<br> \*<br>| 83019 |
| Real estate | 63806 |  |  | 63806 |
| Utilities | 51736 |  |  | 51736 |
| Preferred securities  | 18723 |  | 8801 | 27524 |
| Rights & warrants  |  | 26 |  | 26 |
| Convertible stocks  | 183 |  |  | 183 |
| Bonds, notes & other debt instruments  |  | 127378 |  | 127378 |
| Short-term securities | 151987 | 450 |  | 152437 |
| Total | $3613222 | $130408 | $9294 | $3752924 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Other investments**<sup>†</sup>  | **Other investments**<sup>†</sup>  | **Other investments**<sup>†</sup>  | **Other investments**<sup>†</sup>  |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Assets: |  |  |  |  |
| Unrealized appreciation on futures contracts | $65 | $— | $— | $65 |
| Unrealized appreciation on open forward currency contracts |  | 90 |  | 90 |
| Liabilities: |  |  |  |  |
| Unrealized depreciation on futures contracts | (4)<br>|  |  | (4)<br>|
| Unrealized depreciation on open forward currency contracts |  | (168)<br>|  | (168)<br>|
| Total  | $61 | $(78)<br>| $— | $(17)<br>|

---

\*

Amount less than one thousand.

<sup>†</sup>

Futures contracts and forward currency contracts are not included in the fund's investment portfolio.

**Washington Mutual Investors Fund**

As of June 30, 2025, all of the fund's investment securities were classified as Level 1.

**U.S. Small and Mid Cap Equity Fund**

As of June 30, 2025, all of the fund's investment securities were classified as Level 1.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **297** | American Funds Insurance Series |

---

------

**Capital World Growth and Income Fund** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Investment securities** | **Investment securities** | **Investment securities** | **Investment securities** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Assets: |  |  |  |  |
| Common stocks: |  |  |  |  |
| Information technology | $427048 | $— | $— | $427048 |
| Financials | 316727 |  | —<br> \*<br>| 316727 |
| Industrials | 302352 |  |  | 302352 |
| Consumer discretionary | 181256 |  |  | 181256 |
| Health care | 168013 |  |  | 168013 |
| Communication services | 165844 |  |  | 165844 |
| Consumer staples | 120918 |  |  | 120918 |
| Materials | 104031 | 1918 |  | 105949 |
| Energy | 79674 |  |  | 79674 |
| Utilities | 32792 | 976 |  | 33768 |
| Real estate | 15467 |  |  | 15467 |
| Preferred securities  | 5091 |  |  | 5091 |
| Bonds, notes & other debt instruments  |  | 1506 |  | 1506 |
| Short-term securities | 84375 |  |  | 84375 |
| Total | $2003588 | $4400 | $—<br> \*<br>| $2007988 |

---

\*

Amount less than one thousand.

**Growth-Income Fund** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Investment securities** | **Investment securities** | **Investment securities** | **Investment securities** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Assets: |  |  |  |  |
| Common stocks: |  |  |  |  |
| Information technology | $11838678 | $— | $— | $11838678 |
| Industrials | 6589703 |  |  | 6589703 |
| Financials | 5204392 |  |  | 5204392 |
| Consumer discretionary | 4605290 |  |  | 4605290 |
| Health care | 3953251 |  |  | 3953251 |
| Communication services | 3823894 |  |  | 3823894 |
| Consumer staples | 1335169 |  |  | 1335169 |
| Energy | 1274412 |  |  | 1274412 |
| Materials | 1159101 |  |  | 1159101 |
| Utilities | 838420 |  |  | 838420 |
| Real estate | 751153 |  |  | 751153 |
| Bonds, notes & other debt instruments  |  | 988 |  | 988 |
| Short-term securities | 1261375 |  |  | 1261375 |
| Total | $42634838 | $988 | $— | $42635826 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **298** |

---

------

**International Growth and Income Fund** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Investment securities** | **Investment securities** | **Investment securities** | **Investment securities** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Assets: |  |  |  |  |
| Common stocks: |  |  |  |  |
| Financials | $95865 | $— | $—<br> \*<br>| $95865 |
| Industrials | 63371 |  |  | 63371 |
| Information technology | 44238 |  |  | 44238 |
| Consumer staples | 34875 |  |  | 34875 |
| Consumer discretionary | 32588 |  |  | 32588 |
| Communication services | 28978 |  |  | 28978 |
| Health care | 25844 |  |  | 25844 |
| Materials | 20585 |  | —<br> \*<br>| 20585 |
| Energy | 18005 |  | —<br> \*<br>| 18005 |
| Utilities | 10944 |  |  | 10944 |
| Real estate | 4179 |  |  | 4179 |
| Preferred securities  | 174 |  |  | 174 |
| Short-term securities | 16518 |  |  | 16518 |
| Total | $396164 | $— | $—<br> \*<br>| $396164 |

---

\*

Amount less than one thousand.

**Capital Income Builder** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Investment securities** | **Investment securities** | **Investment securities** | **Investment securities** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Assets: |  |  |  |  |
| Common stocks: |  |  |  |  |
| Financials | $233645 | $— | $—<br> \*<br>| $233645 |
| Information technology | 152382 |  |  | 152382 |
| Industrials | 135755 |  |  | 135755 |
| Consumer staples | 134741 |  |  | 134741 |
| Health care | 126930 |  |  | 126930 |
| Utilities | 82013 | 866 |  | 82879 |
| Consumer discretionary | 76037 |  |  | 76037 |
| Energy | 72713 |  |  | 72713 |
| Communication services | 55015 |  |  | 55015 |
| Real estate | 53644 |  |  | 53644 |
| Materials | 50592 |  |  | 50592 |
| Convertible stocks  | 6728 |  |  | 6728 |
| Bonds, notes & other debt instruments: |  |  |  |  |
| Mortgage-backed obligations |  | 87131 | 100 | 87231 |
| U.S. Treasury bonds & notes |  | 77098 |  | 77098 |
| Corporate bonds, notes & loans |  | 38408 | 262 | 38670 |
| Asset-backed obligations |  | 14904 |  | 14904 |
| Bonds & notes of governments & government agencies <br> outside the U.S.<br>|  | 805 |  | 805 |
| Municipals |  | 336 |  | 336 |
| Investment funds  | 32235 |  |  | 32235 |
| Short-term securities  | 130855 |  |  | 130855 |
| Total | $1343285 | $219548 | $362 | $1563195 |

---

Refer to the next page for footnote(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **299** | American Funds Insurance Series |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Other investments**<sup>†</sup>  | **Other investments**<sup>†</sup>  | **Other investments**<sup>†</sup>  | **Other investments**<sup>†</sup>  |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Assets: |  |  |  |  |
| Unrealized appreciation on futures contracts | $1481 | $— | $— | $1481 |
| Unrealized appreciation on centrally cleared interest rate swaps |  | 243 |  | 243 |
| Unrealized appreciation on centrally cleared credit default swaps |  | 12 |  | 12 |
| Liabilities: |  |  |  |  |
| Unrealized depreciation on futures contracts | (72)<br>|  |  | (72)<br>|
| Unrealized appreciation on centrally cleared interest rate swaps |  | —<br> \*<br>|  | —<br> \*<br>|
| Total  | $1409 | $255 | $— | $1664 |

---

\*

Amount less than one thousand.

<sup>†</sup>

Futures contracts, interest rate swaps and credit default swaps are not included in the fund's investment portfolio.

**Asset Allocation Fund** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Investment securities** | **Investment securities** | **Investment securities** | **Investment securities** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Assets: |  |  |  |  |
| Common stocks: |  |  |  |  |
| Information technology | $4662762 | $— | $— | $4662762 |
| Financials | 3370748 |  | —<br> \*<br>| 3370748 |
| Industrials | 2515815 |  |  | 2515815 |
| Consumer discretionary | 1937291 |  | 807 | 1938098 |
| Health care | 1864589 |  | 13914 | 1878503 |
| Materials | 1333988 |  | —<br> \*<br>| 1333988 |
| Consumer staples | 1196955 |  |  | 1196955 |
| Communication services | 1045984 |  |  | 1045984 |
| Energy | 355595 |  | 498 | 356093 |
| Real estate | 147440 |  |  | 147440 |
| Utilities | 133008 |  |  | 133008 |
| Preferred securities  |  |  | 647 | 647 |
| Rights & warrants  | 54 |  | —<br> \*<br>| 54 |
| Convertible stocks  | 38180 |  |  | 38180 |
| Bonds, notes & other debt instruments: |  |  |  |  |
| Mortgage-backed obligations |  | 2908850 |  | 2908850 |
| Corporate bonds, notes & loans |  | 2009713 | 9271 | 2018984 |
| U.S. Treasury bonds & notes |  | 1906954 |  | 1906954 |
| Asset-backed obligations |  | 567592 |  | 567592 |
| Bonds & notes of governments & government agencies <br> outside the U.S.<br>|  | 37148 |  | 37148 |
| Municipals |  | 22367 |  | 22367 |
| Investment funds | 772826 |  |  | 772826 |
| Short-term securities  | 1325620 |  |  | 1325620 |
| Total | $20700855 | $7452624 | $25137 | $28178616 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Other investments**<sup>†</sup>  | **Other investments**<sup>†</sup>  | **Other investments**<sup>†</sup>  | **Other investments**<sup>†</sup>  |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Assets: |  |  |  |  |
| Unrealized appreciation on futures contracts | $24259 | $— | $— | $24259 |
| Liabilities: |  |  |  |  |
| Unrealized depreciation on futures contracts | (5521)<br>|  |  | (5521)<br>|
| Unrealized depreciation on centrally cleared credit default swaps |  | (860)<br>|  | (860)<br>|
| Total  | $18738 | $(860)<br>| $— | $17878 |

---

\*

Amount less than one thousand.

<sup>†</sup>

Futures contracts and credit default swaps are not included in the fund's investment portfolio.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **300** |

---

------

**American Funds Global Balanced Fund** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Investment securities** | **Investment securities** | **Investment securities** | **Investment securities** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Assets: |  |  |  |  |
| Common stocks: |  |  |  |  |
| Information technology | $44529 | $— | $— | $44529 |
| Financials | 42226 |  |  | 42226 |
| Industrials | 35996 |  |  | 35996 |
| Health care | 34097 |  |  | 34097 |
| Communication services | 21542 |  |  | 21542 |
| Consumer discretionary | 19611 |  |  | 19611 |
| Consumer staples | 18188 |  |  | 18188 |
| Materials | 17133 | 371 |  | 17504 |
| Utilities | 13084 |  |  | 13084 |
| Energy | 9643 |  |  | 9643 |
| Real estate | 2881 |  |  | 2881 |
| Convertible stocks  | 2596 |  |  | 2596 |
| Bonds, notes & other debt instruments: |  |  |  |  |
| Bonds & notes of governments & government agencies <br> outside the U.S.<br>|  | 58518 |  | 58518 |
| Corporate bonds, notes & loans |  | 25698 |  | 25698 |
| Mortgage-backed obligations |  | 23721 |  | 23721 |
| U.S. Treasury bonds & notes |  | 19996 |  | 19996 |
| Asset-backed obligations |  | 2436 |  | 2436 |
| Municipals |  | 127 |  | 127 |
| Federal agency bonds & notes |  | 116 |  | 116 |
| Investment funds  | 4121 |  |  | 4121 |
| Short-term securities  | 22973 | 191 |  | 23164 |
| Total | $288620 | $131174 | $— | $419794 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Other investments\*** | **Other investments\*** | **Other investments\*** | **Other investments\*** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Assets: |  |  |  |  |
| Unrealized appreciation on options purchased (futures style) | $7 | $— | $— | $7 |
| Unrealized appreciation on futures contracts | 338 |  |  | 338 |
| Unrealized appreciation on open forward currency contracts |  | 280 |  | 280 |
| Unrealized appreciation on centrally cleared interest rate swaps |  | 126 |  | 126 |
| Unrealized appreciation on bilateral interest rate swaps |  | 60 |  | 60 |
| Unrealized appreciation on centrally cleared credit default swaps |  | 8 |  | 8 |
| Liabilities: |  |  |  |  |
| Unrealized depreciation on options written (futures style) | (5)<br>|  |  | (5)<br>|
| Unrealized depreciation on futures contracts | (57)<br>|  |  | (57)<br>|
| Unrealized depreciation on open forward currency contracts |  | (601)<br>|  | (601)<br>|
| Unrealized depreciation on centrally cleared interest rate swaps |  | (5)<br>|  | (5)<br>|
| Unrealized depreciation on bilateral interest rate swaps |  | (284)<br>|  | (284)<br>|
| Unrealized depreciation on centrally cleared credit default swaps |  | (32)<br>|  | (32)<br>|
| Total  | $283 | $(448)<br>| $— | $(165)<br>|

---

\*

Options purchased (futures style), options written, future contracts, forward currency contracts, interest rate swaps and credit default swaps are not included in the fund's investment portfolio.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **301** | American Funds Insurance Series |

---

------

**The Bond Fund of America** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Investment securities** | **Investment securities** | **Investment securities** | **Investment securities** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Assets: |  |  |  |  |
| Bonds, notes & other debt instruments: |  |  |  |  |
| Mortgage-backed obligations | $— | $3790654 | $1423 | $3792077 |
| Corporate bonds, notes & loans |  | 3612824 | 7595 | 3620419 |
| U.S. Treasury bonds & notes |  | 2148907 |  | 2148907 |
| Asset-backed obligations |  | 594080 |  | 594080 |
| Municipals |  | 160265 |  | 160265 |
| Bonds & notes of governments & government agencies <br> outside the U.S.<br>|  | 116286 |  | 116286 |
| Federal agency bonds & notes |  | 11725 |  | 11725 |
| Common stocks  |  | 14 |  | 14 |
| Short-term securities  | 745797 |  |  | 745797 |
| Total | $745797 | $10434755 | $9018 | $11189570 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Other investments\*** | **Other investments\*** | **Other investments\*** | **Other investments\*** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Assets: |  |  |  |  |
| Unrealized appreciation on futures contracts | $44636 | $— | $— | $44636 |
| Unrealized appreciation on open forward currency contracts |  | 637 |  | 637 |
| Unrealized appreciation on centrally cleared interest rate swaps |  | 1464 |  | 1464 |
| Unrealized appreciation on bilateral interest rate swaps |  | 2806 |  | 2806 |
| Unrealized appreciation on centrally cleared credit default swaps |  | 461 |  | 461 |
| Liabilities: |  |  |  |  |
| Unrealized depreciation on futures contracts | (3297)<br>|  |  | (3297)<br>|
| Unrealized depreciation on open forward currency contracts |  | (2964)<br>|  | (2964)<br>|
| Unrealized depreciation on centrally cleared interest rate swaps |  | (3389)<br>|  | (3389)<br>|
| Unrealized depreciation on bilateral interest rate swaps |  | (1761)<br>|  | (1761)<br>|
| Unrealized depreciation on centrally cleared credit default swaps |  | (2599)<br>|  | (2599)<br>|
| Total  | $41339 | $(5345)<br>| $— | $35994 |

---

\*

Futures contracts, forward currency contracts, interest rate swaps and credit default swaps are not included in the fund's investment portfolio.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **302** |

---

------

**Capital World Bond Fund** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Investment securities** | **Investment securities** | **Investment securities** | **Investment securities** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Assets: |  |  |  |  |
| Bonds, notes & other debt instruments: |  |  |  |  |
| Euros | $— | $330337 | $— | $330337 |
| Japanese yen |  | 129364 |  | 129364 |
| British pounds |  | 67533 |  | 67533 |
| Brazilian reais |  | 38886 |  | 38886 |
| Canadian dollars |  | 30396 |  | 30396 |
| Australian dollars |  | 30298 |  | 30298 |
| South Korean won |  | 25218 |  | 25218 |
| Chinese yuan renminbi |  | 23928 |  | 23928 |
| Malaysian ringgits |  | 22767 |  | 22767 |
| Mexican pesos |  | 16479 |  | 16479 |
| Indian rupees |  | 15703 |  | 15703 |
| Indonesian rupiah |  | 9657 |  | 9657 |
| Norwegian kroner |  | 6698 |  | 6698 |
| South African rand |  | 6637 |  | 6637 |
| Danish kroner |  | 6546 |  | 6546 |
| Polish zloty |  | 3940 |  | 3940 |
| Chilean pesos |  | 2739 |  | 2739 |
| Turkish lira |  | 1942 |  | 1942 |
| Colombian pesos |  | 1052 |  | 1052 |
| Czech korunas |  | 851 |  | 851 |
| U.S. dollars |  | 643452 | 690 | 644142 |
| Preferred securities  |  |  | 68 | 68 |
| Common stocks  | 1781 | 6 | 45 | 1832 |
| Investment funds  | 22047 |  |  | 22047 |
| Short-term securities | 34518 | 2878 |  | 37396 |
| Options purchased on foreign currencies (equity style) |  | 35 |  | 35 |
| Total | $58346 | $1417342 | $803 | $1476491 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Other investments\*** | **Other investments\*** | **Other investments\*** | **Other investments\*** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Assets: |  |  |  |  |
| Unrealized appreciation on options purchased (futures style) | $64 | $— | $— | $64 |
| Unrealized appreciation on futures contracts | 3955 |  |  | 3955 |
| Unrealized appreciation on open forward currency contracts |  | 3338 |  | 3338 |
| Unrealized appreciation on centrally cleared interest rate swaps |  | 1002 |  | 1002 |
| Unrealized appreciation on bilateral interest rate swaps |  | 522 |  | 522 |
| Unrealized appreciation on centrally cleared credit default swaps |  | 15 |  | 15 |
| Liabilities: |  |  |  |  |
| Value of options written (equity style) |  | (12)<br>|  | (12)<br>|
| Unrealized depreciation on options written (futures style) | (39)<br>|  |  | (39)<br>|
| Unrealized depreciation on futures contracts | (616)<br>|  |  | (616)<br>|
| Unrealized depreciation on open forward currency contracts |  | (3277)<br>|  | (3277)<br>|
| Unrealized depreciation on centrally cleared interest rate swaps |  | (494)<br>|  | (494)<br>|
| Unrealized depreciation on bilateral interest rate swaps |  | (3690)<br>|  | (3690)<br>|
| Unrealized depreciation on centrally cleared credit default swaps |  | (424)<br>|  | (424)<br>|
| Total  | $3364 | $(3020)<br>| $— | $344 |

---

\*

Options purchased (futures style), options written, futures contracts, forward currency contracts, interest rate swaps and credit default swaps are not included in the fund's investment portfolio.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **303** | American Funds Insurance Series |

---

------

**American High-Income Trust** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Investment securities** | **Investment securities** | **Investment securities** | **Investment securities** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Assets: |  |  |  |  |
| Bonds, notes & other debt instruments: |  |  |  |  |
| Corporate bonds, notes & loans | $— | $873946 | $3291 | $877237 |
| Other |  | 430 | 603 | 1033 |
| Convertible bonds & notes  |  | 447 |  | 447 |
| Common stocks  | 35992 | 802 | 22325 | 59119 |
| Preferred securities  |  | 2515 | 1468 | 3983 |
| Rights & warrants  | 47 |  |  | 47 |
| Short-term securities  | 45170 |  |  | 45170 |
| Total | $81209 | $878140 | $27687 | $987036 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Other investments**<sup>1</sup>  | **Other investments**<sup>1</sup>  | **Other investments**<sup>1</sup>  | **Other investments**<sup>1</sup>  |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Assets: |  |  |  |  |
| Unrealized appreciation on futures contracts | $197 | $— | $— | $197 |
| Unrealized appreciation on centrally cleared credit default swaps |  | — <br><sup>2</sup><br>|  | — <br><sup>2</sup><br>|
| Liabilities: |  |  |  |  |
| Unrealized depreciation on futures contracts | (59)<br>|  |  | (59)<br>|
| Unrealized depreciation on centrally cleared credit default swaps |  | (482)<br>|  | (482)<br>|
| Total  | $138 | $(482)<br>| $— | $(344)<br>|

---

<sup>1</sup>

Futures contracts and credit default swaps are not included in the fund's investment portfolio.

<sup>2</sup>

Amount less than one thousand.

The following table reconciles the valuation of the fund's Level 3 investment securities and related transactions for the year ended June 30, 2025 (dollars in thousands):

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Beginning** <br>**value at** <br>**1/1/2025**<br>| **Transfers** <br>**into** <br>**Level 3**<sup>3</sup> <br>| **Purchases** | **Sales** | **Net** <br>**realized** <br>**gain (loss)**<sup>4</sup> <br>| **Unrealized** <br>**appreciation** <br>**(depreciation)**<sup>4</sup> <br>| **Transfers** <br>**out of** <br>**Level 3**<sup>3</sup> <br>| **Ending** <br>**value at** <br>**6/30/2025**<br>|
| Investment securities | &nbsp;&nbsp; $36440 | &nbsp;&nbsp; $1869 | &nbsp;&nbsp; $6147 | &nbsp;&nbsp; $(4347)<br>| &nbsp;&nbsp; $390 | &nbsp;&nbsp; $(9061)<br>| &nbsp;&nbsp; $(3751)<br>| &nbsp;&nbsp; $27687 |
| Net unrealized appreciation (depreciation) during the period on Level 3 investment securities held at June 30, 2025 | Net unrealized appreciation (depreciation) during the period on Level 3 investment securities held at June 30, 2025 | Net unrealized appreciation (depreciation) during the period on Level 3 investment securities held at June 30, 2025 | Net unrealized appreciation (depreciation) during the period on Level 3 investment securities held at June 30, 2025 | Net unrealized appreciation (depreciation) during the period on Level 3 investment securities held at June 30, 2025 | Net unrealized appreciation (depreciation) during the period on Level 3 investment securities held at June 30, 2025 | Net unrealized appreciation (depreciation) during the period on Level 3 investment securities held at June 30, 2025 | Net unrealized appreciation (depreciation) during the period on Level 3 investment securities held at June 30, 2025 | &nbsp;&nbsp; $(6171)<br>|

---

<sup>3</sup>

Transfers into or out of Level 3 are based on the beginning market value of the quarter in which they occurred. These transfers are the result of changes in the availability of pricing sources and/or in the observability of significant inputs used in valuing the securities.

<sup>4</sup>

Net realized gain and unrealized depreciation are included in the related amounts on investments in the fund's statement of operations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **304** |

---

------

**Unobservable inputs** — Valuation of the fund's Level 3 securities is based on significant unobservable inputs that reflect the investment adviser's determination of assumptions that market participants might reasonably use in valuing the securities. The following table provides additional information used by the fund's investment adviser to fair value the fund's Level 3 securities (dollars in thousands):

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Value at** <br>**6/30/2025**<br>| &nbsp;&nbsp; **Valuation** <br>**techniques**<br>| &nbsp;&nbsp; **Unobservable** <br>**inputs**<br>| **Range** <br>**(if applicable)**<br>| &nbsp;&nbsp; **Weighted** <br>**average\***<br>| &nbsp;&nbsp; **Impact to** <br>**valuation from** <br>**an increase in** <br>**input**<sup>†</sup> <br>|
| Bonds, notes & other <br> debt instruments | $3894 | &nbsp;&nbsp; Estimated <br> recovery value | Expected proceeds | Not applicable | Not applicable | Not applicable |
| Bonds, notes & other <br> debt instruments | $3894 | &nbsp;&nbsp; Estimated <br> recovery value | De minimis | Not applicable | Not applicable | Not applicable |
| Bonds, notes & other <br> debt instruments | $3894 | Transaction | Transaction price | Not applicable | Not applicable | Not applicable |
| Bonds, notes & other <br> debt instruments | $3894 | &nbsp;&nbsp; Indicative market <br> quotation<br>| Broker quote | Not applicable | Not applicable | Not applicable |
| Common stocks | $22325 | &nbsp;&nbsp; Estimated <br> recovery value | Expected proceeds | Not applicable | Not applicable | Not applicable |
| Common stocks | $22325 | &nbsp;&nbsp; Estimated <br> recovery value | Discount for uncertainty  | 20% | 20% | Decrease |
| Common stocks | $22325 | &nbsp;&nbsp; Estimated <br> recovery value | De minimis | Not applicable | Not applicable | Not applicable |
| Common stocks | $22325 | &nbsp;&nbsp; Market <br> comparables | EV/EBITDA multiple | 5.9x - 10.0x | 8.1x | Increase |
| Common stocks | $22325 | &nbsp;&nbsp; Market <br> comparables | EV/EBITDA-CAPEX multiple | 9.9x | 9.9x | Increase |
| Common stocks | $22325 | &nbsp;&nbsp; Market <br> comparables | &nbsp;&nbsp; Premium to EV/EBITDA-CAPEX <br> multiple<br>| 5% | 5% | Increase |
| Common stocks | $22325 | &nbsp;&nbsp; Market <br> comparables | P/BV multiple | 0.7x | 0.7x | Increase |
| Common stocks | $22325 | &nbsp;&nbsp; Market <br> comparables | Premium to P/BV multiple | 40% | 40% | Increase |
| Common stocks | $22325 | &nbsp;&nbsp; Market <br> comparables | DLOM | 9% - 15% | 9% | Decrease |
| Preferred securities | $1468 | &nbsp;&nbsp; Market <br> comparables | EV/EBITDA multiple | 4.4x | 4.4x | Increase |
| Preferred securities | $1468 | &nbsp;&nbsp; Market <br> comparables | DLOM | 15% | 15% | Decrease |
|  | $27687 |  |  |  |  |  |

---

\*

Weighted average is by relative fair value.

<sup>†</sup>

This column represents the directional change in fair value of the Level 3 securities that would result in an increase from the corresponding input. Significant increases and decreases in these inputs in isolation could result in significantly higher or lower fair value measurements.

---

| |
|:---|
| **Key to abbreviations** |
| CAPEX = Capital expenditures |
| DLOM = Discount for lack of marketability |
| EBITDA = Earnings before interest, taxes, depreciation and amortization |
| EV = Enterprise value |
| P/BV = Price to book value |

---

**American Funds Mortgage Fund** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Investment securities** | **Investment securities** | **Investment securities** | **Investment securities** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Assets: |  |  |  |  |
| Bonds, notes & other debt instruments: |  |  |  |  |
| Mortgage-backed obligations | $— | $105527 | $— | $105527 |
| U.S. Treasury bonds & notes |  | 5070 |  | 5070 |
| Asset-backed obligations |  | 1603 |  | 1603 |
| Short-term securities  |  | 20107 |  | 20107 |
| Options purchased on futures (equity style) | 5 |  |  | 5 |
| Total | $5 | $132307 | $— | $132312 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **305** | American Funds Insurance Series |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Other investments\*** | **Other investments\*** | **Other investments\*** | **Other investments\*** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Assets: |  |  |  |  |
| Unrealized appreciation on futures contracts | $603 | $— | $— | $603 |
| Unrealized appreciation on centrally cleared interest rate swaps |  | 101 |  | 101 |
| Liabilities: |  |  |  |  |
| Unrealized depreciation on futures contracts | (24)<br>|  |  | (24)<br>|
| Unrealized depreciation on centrally cleared interest rate swaps |  | (1)<br>|  | (1)<br>|
| Total  | $579 | $100 | $— | $679 |

---

\*

Futures contracts and interest rate swaps are not included in the fund's investment portfolio.

**Ultra-Short Bond Fund**

As of June 30, 2025, all of the fund's investment securities were classified as Level 2.

**U.S. Government Securities Fund** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Investment securities** | **Investment securities** | **Investment securities** | **Investment securities** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Assets: |  |  |  |  |
| Bonds, notes & other debt instruments: |  |  |  |  |
| Mortgage-backed obligations | $— | $844043 | $— | $844043 |
| U.S. Treasury bonds & notes |  | 686092 |  | 686092 |
| Federal agency bonds & notes |  | 51206 |  | 51206 |
| Short-term securities  |  | 307019 |  | 307019 |
| Options purchased on futures (equity style) | 206 |  |  | 206 |
| Total | $206 | $1888360 | $— | $1888566 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Other investments\*** | **Other investments\*** | **Other investments\*** | **Other investments\*** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Assets: |  |  |  |  |
| Unrealized appreciation on futures contracts | $9883 | $— | $— | $9883 |
| Unrealized appreciation on centrally cleared interest rate swaps |  | 14278 |  | 14278 |
| Liabilities: |  |  |  |  |
| Unrealized depreciation on futures contracts | (404)<br>|  |  | (404)<br>|
| Unrealized depreciation on centrally cleared interest rate swaps |  | (2762)<br>|  | (2762)<br>|
| Total  | $9479 | $11516 | $— | $20995 |

---

\*

Futures contracts and interest rate swaps are not included in the fund's investment portfolio.

**Managed Risk Growth Fund**

As of June 30, 2025, all of the fund's investments were classified as Level 1.

**Managed Risk International Fund**

As of June 30, 2025, all of the fund's investments were classified as Level 1.

**Managed Risk Washington Mutual Investors Fund**

As of June 30, 2025, all of the fund's investments were classified as Level 1.

**Managed Risk Growth-Income Fund**

As of June 30, 2025, all of the fund's investments were classified as Level 1.

**Managed Risk Asset Allocation Fund**

As of June 30, 2025, all of the fund's investments were classified as Level 1.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **306** |

---

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**4. Risk factors**

------

Investing in the funds may involve certain risks including, but not limited to, those described below.

**Market conditions** — The prices of, and the income generated by, the common stocks, bonds and other securities held by a fund may decline — sometimes rapidly or unpredictably — due to various factors, including events or conditions affecting the general economy or particular industries or companies; overall market changes; local, regional or global political, social or economic instability; governmental, governmental agency or central bank responses to economic conditions; levels of public debt and deficits; changes in inflation rates; and currency exchange rate, interest rate and commodity price fluctuations. These risks may be heightened in the case of smaller capitalization stocks.

Economies and financial markets throughout the world are highly interconnected. Economic, financial or political events, trading and tariff arrangements, wars, terrorism, cybersecurity events, natural disasters, public health emergencies (such as the spread of infectious disease), bank failures and other circumstances in one country or region, including actions taken by governmental or quasi-governmental authorities in response to any of the foregoing, could have impacts on global economies or markets. As a result, whether or not a fund invests in securities of issuers located in or with significant exposure to the countries affected, the value and liquidity of a fund's investments may be negatively affected by developments in other countries and regions.

**Issuer risks** — The prices of, and the income generated by, securities held by a fund may decline in response to various factors directly related to the issuers of such securities, including reduced demand for an issuer's goods or services, poor management performance, major litigation, investigations or other controversies related to the issuer, changes in the issuer's financial condition or credit rating, changes in government regulations affecting the issuer or its competitive environment and strategic initiatives such as mergers, acquisitions or dispositions and the market response to any such initiatives. An individual security may also be affected by factors relating to the industry or sector of the issuer or the securities markets as a whole, and conversely an industry or sector or the securities markets may be affected by a change in financial condition or other event affecting a single issuer.

**Investing in income-oriented stocks** — The value of a fund's securities and income provided by a fund may be reduced by changes in the dividend policies of, and the capital resources available for dividend payments at, the companies in which the fund invests.

**Investing in growth-oriented stocks** — Growth-oriented common stocks and other equity-type securities (such as preferred stocks, convertible preferred stocks and convertible bonds) may involve larger price swings and greater potential for loss than other types of investments. These risks may be even greater in the case of smaller capitalization stocks.

**Investing in small companies** — Investing in smaller companies may pose additional risks. For example, it is often more difficult to value or dispose of small company stocks and more difficult to obtain information about smaller companies than about larger companies. Furthermore, smaller companies often have limited product lines, operating histories, markets and/or financial resources, may be dependent on one or a few key persons for management, and can be more susceptible to losses. Moreover, the prices of their stocks may be more volatile than stocks of larger, more established companies, particularly during times of market turmoil.

**Investing in small and mid-capitalization companies** — Investing in small and mid-capitalization companies may pose additional risks. For example, it is often more difficult to value or dispose of smaller company stocks and more difficult to obtain information about smaller companies than about larger companies. Furthermore, smaller companies often have limited product lines, operating histories, markets and/or financial resources, may be dependent on one or a few key persons for management, and can be more susceptible to losses. Moreover, the prices of their stocks may be more volatile than stocks of larger, more established companies, particularly during times of market turmoil.

**Investing outside the U.S.** — Securities of issuers domiciled outside the U.S. or with significant operations or revenues outside the U.S., and securities tied economically to countries outside the U.S., may lose value because of adverse political, social, economic or market developments (including social instability, regional conflicts, terrorism and war) in the countries or regions in which the issuers are domiciled, operate or generate revenue or to which the securities are tied economically. These securities may also lose value due to changes in foreign currency exchange rates against the U.S. dollar and/or currencies of other countries. Issuers of these securities may be more susceptible to actions of foreign governments, such as nationalization, currency blockage or the imposition of price controls, sanctions, or punitive taxes, each of which could adversely impact the value of these securities. Securities markets in certain countries may be more volatile and/or less liquid than those in the U.S. Investments outside the U.S. may also be subject to different regulatory, legal, accounting, auditing, financial reporting and recordkeeping requirements, and may be more difficult to value, than those in the U.S. In addition, the value of investments outside the U.S. may be reduced by foreign taxes, including foreign withholding taxes on

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **307** | American Funds Insurance Series |

---

------

interest and dividends. Further, there may be increased risks of delayed settlement of securities purchased or sold by the fund, which could impact the liquidity of the fund's portfolio. The risks of investing outside the U.S. may be heightened in connection with investments in emerging markets.

**Investing in developing countries** — Investing in countries with developing economies and/or markets may involve risks in addition to and greater than those generally associated with investing in developed countries. For instance, developing countries tend to have less developed political, economic and legal systems than those in developed countries. Accordingly, the governments of these countries may be less stable and more likely to intervene in the market economy, for example, by imposing capital controls, nationalizing a company or industry, placing restrictions on foreign ownership and on withdrawing sale proceeds of securities from the country, and/or imposing punitive taxes that could adversely affect the prices of securities. Information regarding issuers in developing countries may be limited, incomplete or inaccurate, and such issuers may not be subject to regulatory, accounting, auditing, and financial reporting and recordkeeping standards comparable to those to which issuers in developed countries are subject. A fund's rights with respect to its investments in developing countries, if any, will generally be governed by local law, which may make it difficult or impossible for the fund to pursue legal remedies or to obtain and enforce judgments in local courts. In addition, the economies of these countries may be dependent on relatively few industries, may have limited access to capital and may be more susceptible to changes in local and global trade conditions and downturns in the world economy. Securities markets in these countries can also be relatively small and have substantially lower trading volumes. As a result, securities issued in these countries may be more volatile and less liquid, more vulnerable to market manipulation, and more difficult to value, than securities issued in countries with more developed economies and/or markets. Less certainty with respect to security valuations may lead to additional challenges and risks in calculating a fund's net asset value. Additionally, developing countries are more likely to experience problems with the clearing and settling of trades and the holding of securities by banks, agents and depositories that are less established than those in developed countries.

**Investing in emerging markets** — Investing in emerging markets may involve risks in addition to and greater than those generally associated with investing in the securities markets of developed countries. For instance, emerging market countries tend to have less developed political, economic and legal systems than those in developed countries. Accordingly, the governments of these countries may be less stable and more likely to intervene in the market economy, for example, by imposing capital controls, nationalizing a company or industry, placing restrictions on foreign ownership and on withdrawing sale proceeds of securities from the country, and/or imposing punitive taxes that could adversely affect the prices of securities. Information regarding issuers in emerging markets may be limited, incomplete or inaccurate, and such issuers may not be subject to regulatory, accounting, auditing, and financial reporting and recordkeeping standards comparable to those to which issuers in more developed markets are subject. A fund's rights with respect to its investments in emerging markets, if any, will generally be governed by local law, which may make it difficult or impossible for the fund to pursue legal remedies or to obtain and enforce judgments in local courts. In addition, the economies of these countries may be dependent on relatively few industries, may have limited access to capital and may be more susceptible to changes in local and global trade conditions and downturns in the world economy. Securities markets in these countries can also be relatively small and have substantially lower trading volumes. As a result, securities issued in these countries may be more volatile and less liquid, more vulnerable to market manipulation, and more difficult to value, than securities issued in countries with more developed economies and/or markets. Less certainty with respect to security valuations may lead to additional challenges and risks in calculating a fund's net asset value. Additionally, emerging markets are more likely to experience problems with the clearing and settling of trades and the holding of securities by banks, agents and depositories that are less established than those in developed countries.

**Investing in debt instruments** — The prices of, and the income generated by, bonds and other debt securities held by a fund may be affected by factors such as the interest rates, maturities and credit quality of these securities.

Rising interest rates will generally cause the prices of bonds and other debt securities to fall. Also, when interest rates rise, issuers of debt securities that may be prepaid at any time, such as mortgage-or other asset-backed securities, are less likely to refinance existing debt securities, causing the average life of such securities to extend. A general change in interest rates may cause investors to sell debt securities on a large scale, which could also adversely affect the price and liquidity of debt securities and could also result in increased redemptions from a fund. Falling interest rates may cause an issuer to redeem, call or refinance a debt security before its stated maturity, which may result in a fund having to reinvest the proceeds in lower yielding securities. Longer maturity debt securities generally have greater sensitivity to changes in interest rates and may be subject to greater price fluctuations than shorter maturity debt securities.

Bonds and other debt securities are also subject to credit risk, which is the possibility that the credit strength of an issuer or guarantor will weaken or be perceived to be weaker, and/or an issuer of a debt security will fail to make timely payments of principal or interest and the security will go into default. Changes in actual or perceived creditworthiness may occur quickly. A downgrade or default affecting any of a fund's securities could cause the value of a fund's shares to decrease. Lower quality debt securities generally have

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **308** |

---

------

higher rates of interest and may be subject to greater price fluctuations than higher quality debt securities. Credit risk is gauged, in part, by the credit ratings of the debt securities in which a fund invests. However, ratings are only the opinions of the rating agencies issuing them and are not guarantees as to credit quality or an evaluation of market risk. The fund's investment adviser relies on its own credit analysts to research issuers and issues in assessing credit and default risks.

**Investing in lower rated debt instruments** — Lower rated bonds and other lower rated debt securities generally have higher rates of interest and involve greater risk of default or price declines due to changes in the issuer's creditworthiness than those of higher quality debt securities. The market prices of these securities may fluctuate more than the prices of higher quality debt securities and may decline significantly in periods of general economic difficulty. These risks may be increased with respect to investments in junk bonds.

**Investing in derivatives** — The use of derivatives involves a variety of risks, which may be different from, or greater than, the risks associated with investing in traditional securities, such as stocks and bonds. Changes in the value of a derivative may not correlate perfectly with, and may be more sensitive to market events than, the underlying asset, rate or index, and a derivative instrument may cause a fund to lose significantly more than its initial investment. Derivatives may be difficult to value, difficult for a fund to buy or sell at an opportune time or price and difficult, or even impossible, to terminate or otherwise offset. A fund's use of derivatives may result in losses to the fund, and investing in derivatives may reduce a fund's returns and increase a fund's price volatility. A fund's counterparty to a derivative transaction (including, if applicable, the fund's clearing broker, the derivatives exchange or the clearinghouse) may be unable or unwilling to honor its financial obligations in respect of the transaction. In certain cases, the fund may be hindered or delayed in exercising remedies against or closing out derivative instruments with a counterparty, which may result in additional losses. Derivatives are also subject to operational risk (such as documentation issues, settlement issues and systems failures) and legal risk (such as insufficient documentation, insufficient capacity or authority of a counterparty, and issues with the legality or enforceability of a contract).

**Currency** — The prices of, and the income generated by, many debt securities held by a fund may also be affected by changes in relative currency values. If the U.S. dollar appreciates against foreign currencies, the value in U.S. dollars of a fund's securities denominated in such currencies would generally fall and vice versa.

**Investing in mortgage-related and other asset-backed securities** — Mortgage-related securities, such as mortgage-backed securities, and other asset-backed securities, include debt obligations that represent interests in pools of mortgages or other income-bearing assets, such as residential mortgage loans, home equity loans, mortgages on commercial buildings, consumer loans or receivables and equipment leases. While such securities are subject to the risks associated with investments in debt instruments generally (for example, credit, extension and interest rate risks), they are also subject to other and different risks. Mortgage-backed and other asset-backed securities are subject to changes in the payment patterns of borrowers of the underlying debt, potentially increasing the volatility of the securities and a fund's net asset value. When interest rates fall, borrowers are more likely to refinance or prepay their debt before its stated maturity. This may result in a fund having to reinvest the proceeds in lower yielding securities, effectively reducing a fund's income. Conversely, if interest rates rise and borrowers repay their debt more slowly than expected, the time in which the mortgage-backed and other asset-backed securities are paid off could be extended, reducing a fund's cash available for reinvestment in higher yielding securities. Mortgage-backed securities are also subject to the risk that underlying borrowers will be unable to meet their obligations and the value of property that secures the mortgages may decline in value and be insufficient, upon foreclosure, to repay the associated loans. Investments in asset-backed securities are subject to similar risks.

**Investing in future delivery contracts** — A fund may enter into contracts, such as to-be-announced contracts and mortgage dollar rolls, that involve a fund selling mortgage-related securities and simultaneously contracting to repurchase similar securities for delivery at a future date at a predetermined price. This can increase a fund's market exposure, and the market price of the securities that the fund contracts to repurchase could drop below their purchase price. While a fund can preserve and generate capital through the use of such contracts by, for example, realizing the difference between the sale price and the future purchase price, the income generated by the fund may be reduced by engaging in such transactions. In addition, these transactions increase the turnover rate of a fund.

**Investing in inflation-linked bonds** — The values of inflation-linked bonds generally fluctuate in response to changes in real interest rates — i.e., rates of interest after factoring in inflation. A rise in real interest rates may cause the prices of inflation-linked securities to fall, while a decline in real interest rates may cause the prices to increase. Inflation-linked bonds may experience greater losses than other debt securities with similar durations when real interest rates rise faster than nominal interest rates. There can be no assurance that the value of an inflation-linked security will be directly correlated to changes in interest rates; for example, if interest rates rise for reasons other than inflation, the increase may not be reflected in the security's inflation measure.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **309** | American Funds Insurance Series |

---

------

Investing in inflation-linked bonds may also reduce a fund's distributable income during periods of deflation. If prices for goods and services decline throughout the economy, the principal and income on inflation-linked securities may decline and result in losses to a fund.

**Investing in securities backed by the U.S. government** — U.S. government securities are subject to market risk, interest rate risk and credit risk. Securities backed by the U.S. Treasury or the full faith and credit of the U.S. government are guaranteed only as to the timely payment of interest and principal when held to maturity. Accordingly, the current market values for these securities will fluctuate with changes in interest rates and the credit rating of the U.S. government. Notwithstanding that these securities are backed by the full faith and credit of the U.S. government, circumstances could arise that would prevent or delay the payment of interest or principal on these securities, which could adversely affect their value and cause the fund to suffer losses. Such an event could lead to significant disruptions in U.S. and global markets.

Securities issued by U.S. government-sponsored entities and federal agencies and instrumentalities that are not backed by the full faith and credit of the U.S. government are neither issued nor guaranteed by the U.S. government.

**Investing in repurchase agreements** — Upon entering into a repurchase agreement, a fund purchases a security from a bank or broker-dealer, which simultaneously commits to repurchase the security within a specified time at the fund's cost with interest. The security purchased by the fund constitutes collateral for the seller's repurchase obligation. If the party agreeing to repurchase should default, the fund may seek to sell the security it holds as collateral. The fund may incur a loss if the value of the collateral securing the repurchase obligation falls below the repurchase price. The fund may also incur disposition costs and encounter procedural delays in connection with liquidating the collateral.

**Interest rate risk** — The values and liquidity of the securities held by a fund may be affected by changing interest rates. For example, the values of these securities may decline when interest rates rise and increase when interest rates fall. Longer maturity debt securities generally have greater sensitivity to changes in interest rates and may be subject to greater price fluctuations than shorter maturity debt securities. A fund may invest in variable and floating rate securities. When a fund holds variable or floating rate securities, a decrease in market interest rates will adversely affect the income received from such securities and the net asset value of a fund's shares. Although the values of such securities are generally less sensitive to interest rate changes than those of other debt securities, the value of variable and floating rate securities may decline if their interest rates do not rise as quickly, or as much, as market interest rates. Conversely, floating rate securities will not generally increase in value if interest rates decline. During periods of extremely low short-term interest rates, a fund may not be able to maintain a positive yield or total return and, in relatively low interest rate environments, there are heightened risks associated with rising interest rates.

**Credit and liquidity support** — Changes in the credit quality of banks and financial institutions providing credit and liquidity support features with respect to securities held by a fund could cause the values of these securities to decline.

**Asset allocation** — A fund's percentage allocation to equity securities, debt securities and money market instruments could cause the fund to underperform relative to relevant benchmarks and other funds with similar investment objectives.

**Liquidity risk** — Certain fund holdings may be or may become difficult or impossible to sell, particularly during times of market turmoil. Liquidity may be impacted by the lack of an active market for a holding, legal or contractual restrictions on resale, or the reduced number and capacity of market participants to make a market in such holding. Market prices for less liquid or illiquid holdings may be volatile or difficult to determine, and reduced liquidity may have an adverse impact on the market price of such holdings. Additionally, the sale of less liquid or illiquid holdings may involve substantial delays (including delays in settlement) and additional costs and the fund may be unable to sell such holdings when necessary to meet its liquidity needs, or to try to limit losses, or may be forced to sell at a loss.

**Nondiversification** — The fund is nondiversified, which allows it to invest a greater percentage of its assets in any one issuer than would otherwise be the case. To the extent that the fund invests a larger percentage of its assets in securities of one or more issuers, poor performance by these securities could have a greater adverse impact on the fund's investment results.

**Management** — The investment adviser to the funds actively manages the funds' investments. Consequently, the funds are subject to the risk that the methods and analyses, including models, tools and data, employed by the investment adviser in this process may be flawed or incorrect and may not produce the desired results. This could cause the funds to lose value or their investment results to lag relevant benchmarks or other funds with similar objectives.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **310** |

---

------

Investing in the managed risk funds may involve additional risks including, but not limited to, those described below.

**Fund structure** — The managed risk funds invest in underlying funds and incur expenses related to those underlying funds. In addition, investors in the managed risk funds will incur fees to pay for certain expenses related to the operations of the managed risk funds. An investor holding the underlying fund directly would incur lower overall expenses but would not receive the benefit of the managed risk strategy. Additionally, in accordance with an exemption under the Investment Company Act of 1940, as amended, the investment adviser considers only proprietary funds when selecting underlying investment options and allocations. This means that the fund's investment adviser does not, nor does it expect to, consider any unaffiliated funds as underlying investment options for the fund. This strategy could raise certain conflicts of interest when determining the overall asset allocation of the fund or choosing underlying investments for the fund, including the selection of funds that result in greater compensation to the adviser or funds with relatively lower historical investment results. The investment adviser has policies and procedures designed to mitigate material conflicts of interest that may arise in connection with its management of the fund.

**Management** — The managed risk funds are subject to the risk that the managed risk strategy or the methods employed by the subadviser in implementing the managed risk strategy may not produce the desired results. This could cause the managed risk funds to lose value or their investment results to lag relevant benchmarks or other funds with similar objectives.

**Underlying fund risks** — Because the managed risk funds' investments consist of investments in underlying funds, the managed risk funds' risks are directly related to the risks of the respective underlying fund in which each managed risk fund invests. For this reason, it is important to understand the risks associated with investing both in the managed risk fund and in each of the underlying funds.

**Investing in options and futures contracts** — In addition to the risks generally associated with investing in derivative instruments, options and futures contracts are subject to the creditworthiness of the clearing organizations, exchanges and, in the case of futures, futures commission merchants with which a fund transacts. While both options and futures contracts are generally liquid instruments, under certain market conditions, options and futures may be deemed to be illiquid. For example, a fund may be temporarily prohibited from closing out its position in an options or futures contract if intraday price change limits or limits on trading volume imposed by the applicable exchange are triggered. If a fund is unable to close out a position on an options or futures contract, the fund would remain subject to the risk of adverse price movements until the fund is able to close out the position in question. The ability of a fund to successfully utilize options and futures contracts may depend in part upon the ability of the fund's investment adviser or subadviser to accurately forecast interest rates and other economic factors and to assess and predict the impact of such economic factors on the options and futures in which the fund invests. If the investment adviser or subadviser incorrectly forecasts economic developments or incorrectly predicts the impact of such developments on the options and futures in which it invests, a fund could suffer losses. Whereas the risk of loss on a put option purchased by the fund is limited to the initial cost of the option, the amount of a potential loss on a futures contract could greatly exceed the relatively small initial amount invested in entering the futures position.

**Hedging** — There may be imperfect or even negative correlation between the prices of the options and futures contracts in which a fund invests and the prices of the underlying securities or indexes which the fund seeks to hedge. For example, options and futures contracts may not provide an effective hedge because changes in options and futures contract prices may not track those of the underlying securities or indexes they are intended to hedge. In addition, there are significant differences between the securities market, on the one hand, and the options and futures markets, on the other, that could result in an imperfect correlation between the markets, causing a given hedge not to achieve its objectives. The degree of imperfection of correlation depends on circumstances such as variations in speculative market demand for options and futures, including technical influences in options and futures trading, and differences between the financial instruments being hedged and the instruments underlying the standard contracts available for trading. A decision as to whether, when and how to hedge involves the exercise of skill and judgment, and even a well-conceived hedge may be unsuccessful to some degree because of market behavior or unexpected interest rate trends. In addition, the fund's investment in exchange-traded options and futures and their resulting costs could limit the fund's gains in rising markets relative to those of the underlying funds, or to those of unhedged funds in general.

**Short positions** — The fund may suffer losses from short positions in futures contracts. Losses from short positions in futures contracts occur when the underlying index increases in value. As the underlying index increases in value, the holder of the short position in the corresponding futures contract is required to pay the difference in value of the futures contract resulting from the increase in the index on a daily basis. Losses from a short position in an index futures contract could potentially be very large if the value of the underlying index rises dramatically in a short period of time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **311** | American Funds Insurance Series |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**5. Certain investment techniques**

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**Securities lending** — Some of the funds have entered into securities lending transactions in which the funds earn income by lending investment securities to brokers, dealers or other institutions. Each transaction involves three parties: the fund, acting as the lender of the securities, a borrower, and a lending agent that acts as an intermediary.

Securities lending transactions are entered into by the fund under the securities lending agreement with the lending agent. The lending agent facilitates the exchange of securities between the lender and the borrower, generally provides protection from borrower default, marks to market the value of collateral daily, secures additional collateral from the borrower if it falls below preset terms, and may reinvest the collateral on behalf of the fund according to agreed parameters. The lending agent has indemnified the fund against losses resulting from borrower default. Although risk is mitigated by the collateral and indemnification, the fund could experience a delay in recovering its securities and a potential loss of income or value if the borrower fails to return the securities, collateral investments decline in value or the lending agent fails to perform.

The borrower is required to post highly liquid assets, such as cash or U.S. government securities, as collateral for the loan in an amount at least equal to the value of the securities loaned. Investments made with cash collateral are recognized as assets in the fund's investment portfolio. The same amount is recorded as a liability in the fund's statement of assets and liabilities. While securities are on loan, the fund will continue to receive the equivalent of the interest, dividends or other distributions paid by the issuer, as well as a portion of the interest on the investment of the collateral. Additionally, although the fund does not have the right to vote on securities while they are on loan, the fund has a right to consent on corporate actions and a right to recall loaned securities to vote on proposals affecting them. The borrower is obligated to return the loaned security at the conclusion of the loan or, during the pendency of the loan, on demand from the fund.

The following table presents the value of the securities on loan, the type and value of collateral received and the value of the investment securities purchased, if any, from the cash collateral received by each fund (dollars in thousands):

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| | | | | |
|:---|:---|:---|:---|:---|
| | | **Collateral received** | **Collateral received** | |
| <br>**Funds**  | <br>**Value of** <br>**investment** <br>**securities** <br>**on loan**<br>| **Cash**  | **U.S. government** <br>**securities** <br>| <br>**Value of** <br>**investment** <br>**securities** <br>**purchased** <br>|
| Global Growth Fund | &nbsp;&nbsp; $11 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $12 | &nbsp;&nbsp; $— |
| Global Small Capitalization Fund | &nbsp;&nbsp; 21033 | &nbsp;&nbsp; 21824 | &nbsp;&nbsp; 154 | &nbsp;&nbsp; 19642 |
| Growth Fund | &nbsp;&nbsp; 137026 | &nbsp;&nbsp; 140364 | &nbsp;&nbsp; — | &nbsp;&nbsp; 126327 |
| New World Fund | &nbsp;&nbsp; 7151 | &nbsp;&nbsp; 4784 | &nbsp;&nbsp; 2898 | &nbsp;&nbsp; 4306 |
| Washington Mutual Investors Fund | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 5 | &nbsp;&nbsp; — | &nbsp;&nbsp; 4 |
| U.S. Small and Mid Cap Equity Fund | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 7 | &nbsp;&nbsp; — | &nbsp;&nbsp; 7 |
| Capital World Growth and Income Fund | &nbsp;&nbsp; 8902 | &nbsp;&nbsp; 8988 | &nbsp;&nbsp; 484 | &nbsp;&nbsp; 8089 |
| International Growth and Income Fund | &nbsp;&nbsp; 891 | &nbsp;&nbsp; 937 | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 843 |
| Capital Income Builder | &nbsp;&nbsp; 16714 | &nbsp;&nbsp; 17540 | &nbsp;&nbsp; — | &nbsp;&nbsp; 15786 |
| Asset Allocation Fund | &nbsp;&nbsp; 2306 | &nbsp;&nbsp; 2353 | &nbsp;&nbsp; — | &nbsp;&nbsp; 2118 |
| American Funds Global Balanced Fund | &nbsp;&nbsp; 1472 | &nbsp;&nbsp; 1545 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1391 |

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Investment securities purchased from cash collateral are disclosed in the investment portfolio as short-term securities. Securities received as collateral, if any, are not recognized as fund assets. The contractual maturity of collateral received under the securities lending agreement is classified as overnight and continuous.

**Index-linked bonds** — Some of the funds have invested in index-linked bonds, which are fixed-income securities whose principal value is periodically adjusted to a government price index. Over the life of an index-linked bond, interest is paid on the adjusted principal value. Increases or decreases in the principal value of index-linked bonds are recorded as interest income in the fund's statement of operations.

**Mortgage dollar rolls** — Some of the funds have entered into mortgage dollar roll transactions of TBA securities in which the fund sells a TBA mortgage-backed security to a counterparty and simultaneously enters into an agreement with the same counterparty to buy back a similar TBA security on a specific future date at a predetermined price. Mortgage dollar rolls are accounted for as purchase and sale transactions and may result in an increase to the fund's portfolio turnover rate. Portfolio turnover rates excluding and including mortgage dollar rolls are presented at the end of the financial highlights tables.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| American Funds Insurance Series | **312** |

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**Loan transactions** — Some of the funds have entered into loan transactions in which the fund acquires a loan either through an agent, by assignment from another holder, or as a participation interest in another holder's portion of a loan. The loan is often administered by a financial institution that acts as agent for the holders of the loan, and the fund may be required to receive approval from the agent and/or borrower prior to the sale of the investment. The loan's interest rate and maturity date may change based on the terms of the loan, including potential early payments of principal.

**Short-term securities** — The managed risk funds hold shares of State Street Institutional U.S. Government Money Market Fund, a cash management vehicle offered and managed by State Street Bank and Trust Company.

**Unfunded commitments** — Global Small Capitalization Fund, Asset Allocation Fund, Capital World Bond Fund and American High-Income Trust have participated in transactions that involve unfunded commitments, which may obligate each fund to purchase new or additional bonds and/or purchase additional shares of the applicable issuer if certain contingencies are met. As of June 30, 2025, the maximum exposure from these unfunded commitments for Global Small Capitalization Fund, Asset Allocation Fund, Capital World Bond Fund and American High-Income Trust was $490,000, $3,151,000, $8,000 and $1,158,000, respectively, which would represents 0.02% for Global Small Capitalization Fund, 0.01% for Asset Allocation Fund, less than 0.01% for Capital World Bond Fund and 0.05% for American High-Income Trust, respectively, of the net assets of each fund should such commitments become due. Unrealized appreciation on these unfunded commitments was less than $1,000 for Capital World Bond Fund, $2,000 for Asset Allocation Fund and $1,000 for American High-Income Trust, and is disclosed as unrealized appreciation on unfunded commitments in each fund's statement of assets and liabilities. Unrealized appreciation is included in net unrealized appreciation (depreciation) on investments in unaffiliated issuers in each fund's statement of operations.

**Option contracts** — Some of the funds have entered into option contracts, which give the purchaser of the option, in return for a premium payment, the right to buy from (in the case of a call) or sell to (in the case of a put) the writer of the option the reference instrument underlying the option (or the cash value of the instrument or index underlying the option) at a specified exercise price. The writer of an option has the obligation, upon exercise of the option, to cash settle or deliver the underlying instrument or index upon payment of the exercise price (in the case of a call) or to cash settle or take delivery of the underlying instrument or index and pay the exercise price (in the case of a put).

By purchasing a put option, the fund obtains the right (but not the obligation) to sell the instrument underlying the option (or to deliver the cash value of the instrument or index underlying the option) at a specified exercise price. In return for this right, the fund pays the current market price, or the option premium, for the option. The fund may terminate its position in a put option by allowing the option to expire or by exercising the option. If the option is allowed to expire, the fund will lose the entire amount of the premium paid. If the option is exercised, the fund completes the sale of the underlying instrument (or delivers the cash value of the index underlying the option) at the exercise price. The fund may also terminate a put option position by entering into opposing close-out transactions in advance of the option expiration date.

The features of call options are essentially the same as those of put options, except that the purchaser of a call option obtains the right (but not the obligation) to purchase, rather than sell, the underlying instrument (or the cash value of the index underlying the option) at the specified exercise price. The buyer of a call option typically attempts to participate in potential price increases of the underlying instrument or index with risk limited to the cost of the option if the price of the underlying instrument or index falls. At the same time, the call option buyer can expect to suffer a loss if the price of the underlying instrument or index does not rise sufficiently to offset the cost of the option.

The writer of a put or call option takes the opposite side of the transaction from the option purchaser. In return for receipt of the option premium, the writer assumes the obligation to pay or receive the exercise price for the option's underlying instrument or index if the other party to the option chooses to exercise it. The writer may seek to terminate a position in a put option before exercise by entering into opposing close-out transactions in advance of the option expiration date. If the market for the relevant put option is not liquid, however, the writer must be prepared to pay the exercise price while the option is outstanding, regardless of price changes. Writing a call option obligates the writer to, upon exercise of the option, deliver the option's underlying instrument in return for the exercise price or to make a net cash settlement payment, as applicable. The characteristics of writing call options are similar to those of writing put options, except that writing call options is generally a profitable strategy if prices remain the same or fall. The potential gain for the option seller in such a transaction would be capped at the premium received.

Option contracts can be either equity style (premium is paid in full when the option is opened) or futures style (premium moves as part of variation margin over the life of the option, and is paid in full when the option is closed). For equity style options, premiums paid on options purchased, as well as the daily fluctuation in market value, are included in investment securities from unaffiliated issuers in each

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **313** | American Funds Insurance Series |

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------

fund's statement of asset and liabilities, and premiums received on options written, as well as the daily fluctuation in market value, are included in options written at value in each fund's statement of assets and liabilities. The net realized gains or losses and net unrealized appreciation or depreciation from equity style options are recorded in investments for purchased options and in options written for written options in the fund's statement of operations and statement of changes in net assets.

For futures style options, on a daily basis for both purchased and written options, the fund pays or receives variation margin based on the premium paid and the daily fluctuation in market value, and records variation margin in the statement of assets and liabilities. Realized gains or losses are recorded at the time the option contract is closed or expires. The net realized gains or losses and net unrealized appreciation or depreciation from futures style options are recorded in options purchased (futures style) in the fund's statement of operations and statement of changes in net assets.

Option contracts can take different forms. Some of the funds have entered into the following types of options contracts:

**Options on equity indexes** — As part of their managed risk strategy, the managed risk funds will at times purchase put options on equity indexes in standardized contracts traded on foreign or domestic securities exchanges, boards of trade, or similar entities.

**Options on futures** — Some of the funds have entered into options on future contracts to seek to manage the fund's interest rate sensitivity by increasing or decreasing the duration of the fund or a portion of the fund's portfolio. An option on a futures contract gives the purchaser of the option the right to buy or sell a position in a futures contract from or to the writer of the option, at a specified price on or before the specified expiration date.

**Options on foreign currencies** — One of the funds has entered into options on foreign currencies to seek to protect against changes in currency exchange rates, to increase exposure to a particular foreign currency, to shift exposure to currency fluctuations from one currency to another or to seek to increase returns. An option on a foreign currency gives the holder of the option the right to buy or sell a foreign currency from or to the writer of the option, at a specified price on or before the specified expiration date.

**Futures contracts** — Some of the funds have entered into futures contracts, which provide for the future sale by one party and purchase by another party of a specified amount of a specific financial instrument for a specified price, date, time and place designated at the time the contract is made. Futures contracts are used to strategically manage the fund's interest rate sensitivity by increasing or decreasing the duration of the fund or a portion of the fund's portfolio. For the managed risk funds, futures contracts are used to strategically manage portfolio volatility and downside equity risk.

Upon entering into futures contracts, and to maintain the fund's open positions in futures contracts, the fund is required to deposit with a futures broker, known as a futures commission merchant ("FCM"), in a segregated account in the name of the FCM an amount of cash, U.S. government securities or other liquid securities, known as initial margin. The margin required for a particular futures contract is set by the exchange on which the contract is traded to serve as collateral, and may be significantly modified from time to time by the exchange during the term of the contract.

On a daily basis, each fund pays or receives variation margin based on the increase or decrease in the value of the futures contracts and records variation margin on futures contracts in each fund's statement of assets and liabilities. Futures contracts may involve a risk of loss in excess of the variation margin shown on each fund's statement of assets and liabilities. Each fund records realized gains or losses at the time the futures contract is closed or expires. Net realized gains or losses and net unrealized appreciation or depreciation from futures contracts are recorded in each fund's statement of operations.

**Forward currency contracts** — Some of the funds have entered into forward currency contracts, which represent agreements to exchange currencies on specific future dates at predetermined rates. The series' investment adviser uses forward currency contracts to manage the fund's exposure to changes in exchange rates. Upon entering into these contracts, risks may arise from the potential inability of counterparties to meet the terms of their contracts and from possible movements in exchange rates.

On a daily basis, the series' investment adviser values forward currency contracts based on the applicable exchange rates and records unrealized appreciation or depreciation for open forward currency contracts in each fund's statement of assets and liabilities. Realized gains or losses are recorded at the time the forward contract is closed or offset by another contract with the same broker for the same settlement date and currency. Closed forward currency contracts that have not reached their settlement date are included in the respective receivables or payables for closed forward currency contracts in each fund's statement of assets and liabilities. Net realized gains or losses from closed forward currency contracts and net unrealized appreciation or depreciation from open forward currency contracts are recorded in each fund's statement of operations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| American Funds Insurance Series | **314** |

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**Swap contracts** — Some of the funds have entered into swap agreements, which are two-party contracts entered into primarily by institutional investors for a specified time period. In a typical swap transaction, two parties agree to exchange the returns earned or realized from one or more underlying assets or rates of return. Swap agreements can be traded on a swap execution facility (SEF) and cleared through a central clearinghouse (cleared), traded over-the-counter (OTC) and cleared, or traded bilaterally and not cleared. Because clearing interposes a central clearinghouse as the ultimate counterparty to each participant's swap, and margin is required to be exchanged under the rules of the clearinghouse, central clearing is intended to decrease (but not eliminate) counterparty risk relative to uncleared bilateral swaps. To the extent the funds enter into bilaterally negotiated swap transactions, the funds will enter into swap agreements only with counterparties that meet certain credit standards and subject to agreed collateralized procedures. The term of a swap can be days, months or years and certain swaps may be less liquid than others.

Upon entering into a centrally cleared swap contract, the funds are required to deposit cash, U.S. government securities or other liquid securities, which is known as initial margin. Generally, the initial margin required for a particular swap is set and held as collateral by the clearinghouse on which the contract is cleared. The amount of initial margin required may be significantly modified from time to time by the clearinghouse during the term of the contract.

On a daily basis, interest accruals related to the exchange of future payments are recorded as a receivable and payable in the funds' statement of assets and liabilities for centrally cleared swaps and as unrealized appreciation or depreciation in the funds' statement of assets and liabilities for bilateral swaps. For centrally cleared swaps, the fund also pays or receives a variation margin based on the increase or decrease in the value of the swaps, including accrued interest as applicable, and records variation margin in the statement of assets and liabilities. The funds record realized gains and losses on both the net accrued interest and any gain or loss recognized at the time the swap is closed or expires. Net realized gains or losses, as well as any net unrealized appreciation or depreciation, from swaps are recorded in the funds' statement of operations.

Swap agreements can take different forms. Some of the funds have entered into the following types of swap agreements:

**Interest rate swaps** — Some of the funds have entered into interest rate swaps, which seek to manage the interest rate sensitivity of the fund by increasing or decreasing the duration of the funds or a portion of the funds' portfolio. An interest rate swap is an agreement between two parties to exchange or swap payments based on changes in an interest rate or rates. Typically, one interest rate is fixed and the other is variable based on a designated short-term interest rate such as the Secured Overnight Financing Rate (SOFR), prime rate or other benchmark. In other types of interest rate swaps, known as basis swaps, the parties agree to swap variable interest rates based on different designated short-term interest rates. Interest rate swaps generally do not involve the delivery of securities or other principal amounts. Rather, cash payments are exchanged by the parties based on the application of the designated interest rates to a notional amount, which is the predetermined dollar principal of the trade upon which payment obligations are computed. Accordingly, the funds' current obligation or right under the swap agreement is generally equal to the net amount to be paid or received under the swap agreement based on the relative value of the position held by each party.

**Credit default swap indices** — Some of the funds have entered into centrally cleared credit default swap indices, including CDX and iTraxx indices (collectively referred to as "CDSIs"), in order to assume exposure to a diversified portfolio of credits or to hedge against existing credit risks. A CDSI is based on a portfolio of credit default swaps with similar characteristics, such as credit default swaps on high-yield bonds. In a typical CDSI transaction, one party (the protection buyer) is obligated to pay the other party (the protection seller) a stream of periodic payments over the term of the contract. If a credit event, such as a default or restructuring, occurs with respect to any of the underlying reference obligations, the protection seller must pay the protection buyer the loss on those credits.

The funds may enter into a CDSI transaction as either protection buyer or protection seller. If the funds are protection buyers, they would pay the counterparty a periodic stream of payments over the term of the contract and would not recover any of those payments if no credit events were to occur with respect to any of the underlying reference obligations. However, if a credit event did occur, the funds, as protection buyers, would have the right to deliver the referenced debt obligations or a specified amount of cash, depending on the terms of the applicable agreement, and to receive the par value of such debt obligations from the counterparty protection seller. As protection sellers, the funds would receive fixed payments throughout the term of the contract if no credit events were to occur with respect to any of the underlying reference obligations. If a credit event were to occur, however, the value of any deliverable obligation received by the funds, coupled with the periodic payments previously received by the funds, may be less than the full notional value that the funds, as a protection seller, pays to the counterparty protection buyer, effectively resulting in a loss of value to the funds. Furthermore, as protection sellers, the funds would effectively add leverage to their portfolio because it would have investment exposure to the notional amount of the swap transaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| **315** | American Funds Insurance Series |

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The following table presents the average month-end notional amounts of options on futures, options on foreign currencies, futures contracts, forward currency contracts, interest rate swaps and credit default swaps while held for each fund (dollars in thousands):

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Options** <br>**on** <br>**futures**<br>| **Options** <br>**on** <br>**foreign currencies**<br>| **Futures** <br>**contracts**<br>| **Forward** <br>**currency** <br>**contracts**<br>| **Interest** <br>**rate** <br>**swaps**<br>| **Credit** <br>**default** <br>**swaps**<br>|
| New World Fund | Not applicable | Not applicable | &nbsp;&nbsp; $15751  | &nbsp;&nbsp; $19587  | &nbsp;&nbsp; $1,702\*  | Not applicable |
| International Growth and <br> Income Fund<br>| Not applicable | Not applicable | Not applicable | &nbsp;&nbsp; 645\*  | Not applicable | Not applicable |
| Capital Income Builder | Not applicable | Not applicable | &nbsp;&nbsp; 165704  | Not applicable | &nbsp;&nbsp; 7379  | &nbsp;&nbsp; 5160  |
| Asset Allocation Fund | Not applicable | Not applicable | &nbsp;&nbsp; 2375438  | Not applicable | &nbsp;&nbsp; 585,466\*  | &nbsp;&nbsp; 58451  |
| Global Balanced Fund | &nbsp;&nbsp; $13706 | Not applicable | &nbsp;&nbsp; 49536  | &nbsp;&nbsp; 67771  | &nbsp;&nbsp; 17473  | &nbsp;&nbsp; 7108  |
| The Bond Fund of America | Not applicable | Not applicable | &nbsp;&nbsp; 5974302  | &nbsp;&nbsp; 234959  | &nbsp;&nbsp; 627191  | &nbsp;&nbsp; 145756  |
| Capital World Bond Fund | &nbsp;&nbsp; 72254 | &nbsp;&nbsp; $20561 | &nbsp;&nbsp; 669768  | &nbsp;&nbsp; 490321  | &nbsp;&nbsp; 255025  | &nbsp;&nbsp; 92993  |
| American High-Income Trust | Not applicable | Not applicable | &nbsp;&nbsp; 40053  | Not applicable | Not applicable | &nbsp;&nbsp; 14703  |
| American Funds Mortgage Fund | &nbsp;&nbsp; 25546 | Not applicable | &nbsp;&nbsp; 101434  | Not applicable | &nbsp;&nbsp; 1820  | Not applicable |
| U.S. Government Securities <br> Fund<br>| &nbsp;&nbsp; 900592 | Not applicable | &nbsp;&nbsp; 2057761  | Not applicable | &nbsp;&nbsp; 1084428  | Not applicable |
| Managed Risk Growth Fund | &nbsp;&nbsp; 429063 | Not applicable | &nbsp;&nbsp; 1746 | Not applicable | Not applicable | Not applicable |
| Managed Risk International <br> Fund<br>| &nbsp;&nbsp; 84769 | Not applicable | &nbsp;&nbsp; 573 | Not applicable | Not applicable | Not applicable |
| Managed Risk Washington <br> Mutual Investors Fund<br>| &nbsp;&nbsp; 265317 | Not applicable | &nbsp;&nbsp; 3801 | Not applicable | Not applicable | Not applicable |
| Managed Risk Growth-Income <br> Fund<br>| &nbsp;&nbsp; 2964611 | Not applicable | &nbsp;&nbsp; 59458 | Not applicable | Not applicable | Not applicable |
| Managed Risk Asset Allocation | &nbsp;&nbsp; 353919 | Not applicable | &nbsp;&nbsp; 35924 | Not applicable | Not applicable | Not applicable |

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\*

No contracts were held at the end of the reporting period; amount represents the average month-end notional amount of contracts while they were held.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| American Funds Insurance Series | **316** |

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The following tables identify the location and fair value amounts on each fund's statement of assets and liabilities and/or the effect on each fund's statement of operations resulting from each fund's use of options, futures contracts, forward currency contracts, interest rate swaps and/or credit default swaps as of, or for the six months ended, June 30, 2025 (dollars in thousands):

**New World Fund** 

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Assets** | **Assets** | **Liabilities** | **Liabilities** |
| <br>**Contracts** | <br>**Risk type** | &nbsp;&nbsp; **Location on statement of** <br>**assets and liabilities**<br>| **Value** | &nbsp;&nbsp;&nbsp;&nbsp; **Location on statement of** <br>**assets and liabilities**<br>| **Value** |
| Futures | Interest | Unrealized appreciation<sup>1</sup> <br>| $65 | Unrealized depreciation<sup>1</sup> <br>| $4 |
| Forward currency | Currency | &nbsp;&nbsp; Unrealized appreciation on open <br> forward currency contracts<br>| 90 | &nbsp;&nbsp;&nbsp;&nbsp; Unrealized depreciation on open <br> forward currency contracts<br>| 168 |
|  |  |  | $155 |  | $172 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Net realized gain (loss)** | **Net realized gain (loss)** | **Net unrealized appreciation (depreciation)** | **Net unrealized appreciation (depreciation)** |
| <br>**Contracts** | <br>**Risk type** | &nbsp;&nbsp; **Location on statement of** <br> **operations**<br>| **Value** | &nbsp;&nbsp;&nbsp;&nbsp; **Location on statement of** <br> **operations**<br>| **Value** |
| Futures | Interest | &nbsp;&nbsp; Net realized gain (loss) on futures <br> contracts<br>| $50 | &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on futures contracts<br>| $50 |
| Forward currency | Currency | &nbsp;&nbsp; Net realized gain (loss) on forward <br> currency contracts<br>| (253)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on forward currency <br> contracts<br>| (158)<br>|
| Swap | Interest | &nbsp;&nbsp; Net realized gain (loss) on swap <br> contracts<br>| (88)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on swap contracts<br>| 104 |
|  |  |  | $(291)<br>|  | $(4)<br>|

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**Capital Income Builder** 

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| | | | |
|:---|:---|:---|:---|
| <br>**Contracts** | <br>**Risk type** | **Assets**<br>**Value** | **Liabilities**<br>**Value** |
| Futures | Interest<br> Unrealized appreciation<sup>1</sup> <br>| $1481<br> Unrealized depreciation<sup>1</sup> <br>| $72 |
| Swap (centrally <br> cleared)<br>| Interest<br> Unrealized appreciation<sup>1</sup> <br>| 243<br> Unrealized depreciation<sup>1</sup> <br>| — <br><sup>2</sup><br>|
| Swap (centrally <br> cleared)<br>| Credit<br> Unrealized appreciation<sup>1</sup> <br>| 12<br> Unrealized depreciation<sup>1</sup> <br>|  |
|  |  | $1736 | $72 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Net realized gain (loss)** | **Net realized gain (loss)** | **Net unrealized appreciation (depreciation)** | **Net unrealized appreciation (depreciation)** |
| <br>**Contracts** | <br>**Risk type** | &nbsp;&nbsp; **Location on statement of** <br> **operations**<br>| **Value** | &nbsp;&nbsp;&nbsp;&nbsp; **Location on statement of** <br> **operations**<br>| **Value** |
| Futures | Interest | &nbsp;&nbsp; Net realized gain (loss) on futures <br> contracts<br>| $(329)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on futures contracts<br>| $2387 |
| Swap | Interest | &nbsp;&nbsp; Net realized gain (loss) on swap <br> contracts<br>| 51 | &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on swap contracts<br>| (228)<br>|
| Swap | Credit | &nbsp;&nbsp; Net realized gain (loss) on swap <br> contracts<br>| 9 | &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on swap contracts<br>| 12 |
|  |  |  | $(269)<br>|  | $2171 |

---

Refer to the end of the table(s) for footnote(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **317** | American Funds Insurance Series |

---

------

**Asset Allocation Fund** 

---

| | | | |
|:---|:---|:---|:---|
| <br>**Contracts** | <br>**Risk type** | **Assets**<br>**Value** | **Liabilities**<br>**Value** |
| Futures | Interest<br> Unrealized appreciation<sup>1</sup> <br>| $24259<br> Unrealized depreciation<sup>1</sup> <br>| $5521 |
| Swap (centrally <br> cleared)<br>| Credit<br> Unrealized appreciation<sup>1</sup> <br>| —<br> Unrealized depreciation<sup>1</sup> <br>| 860 |
|  |  | $24259 | $6381 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Net realized gain (loss)** | **Net realized gain (loss)** | **Net unrealized appreciation (depreciation)** | **Net unrealized appreciation (depreciation)** |
| <br>**Contracts** | <br>**Risk type** | &nbsp;&nbsp; **Location on statement of** <br> **operations**<br>| **Value** | &nbsp;&nbsp;&nbsp;&nbsp; **Location on statement of** <br> **operations**<br>| **Value** |
| Futures | Interest | &nbsp;&nbsp; Net realized gain (loss) on futures <br> contracts<br>| $5194 | &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on futures contracts<br>| $21662 |
| Swap | Interest | &nbsp;&nbsp; Net realized gain (loss) on swap <br> contracts<br>| (439)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on swap contracts<br>| 119 |
| Swap | Credit | &nbsp;&nbsp; Net realized gain (loss) on swap <br> contracts<br>| (16)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on swap contracts<br>| (1003)<br>|
|  |  |  | $4739 |  | $20778 |

---

**American Funds Global Balanced Fund** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Assets** | **Assets** | **Liabilities** | **Liabilities** |
| <br>**Contracts** | <br>**Risk type** | &nbsp;&nbsp; **Location on statement of** <br>**assets and liabilities**<br>| **Value** | &nbsp;&nbsp;&nbsp;&nbsp; **Location on statement of** <br>**assets and liabilities**<br>| **Value** |
| Options purchased <br> (futures style)<br>| Interest | Unrealized appreciation<sup>1</sup> <br>| $7 | Unrealized depreciation<sup>1</sup> <br>| $— |
| Options written <br> (futures style)<br>| Interest | Unrealized appreciation<sup>1</sup> <br>|  | Unrealized depreciation<sup>1</sup> <br>| 5 |
| Futures | Interest | Unrealized appreciation<sup>1</sup> <br>| 338 | Unrealized depreciation<sup>1</sup> <br>| 57 |
| Forward currency | Currency | &nbsp;&nbsp; Unrealized appreciation on open <br> forward currency contracts<br>| 280 | &nbsp;&nbsp;&nbsp;&nbsp; Unrealized depreciation on open <br> forward currency contracts<br>| 601 |
| Swap (centrally <br> cleared)<br>| Interest | Unrealized appreciation<sup>1</sup> <br>| 126 | Unrealized depreciation<sup>1</sup> <br>| 5 |
| Swap (bilateral) | Interest | Bilateral swaps, at value | 60 | Bilateral swaps, at value | 284 |
| Swap (centrally <br> cleared)<br>| Credit | Unrealized appreciation<sup>1</sup> <br>| 8 | Unrealized depreciation<sup>1</sup> <br>| 32 |
|  |  |  | $819 |  | $984 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Refer to the end of the table(s) for footnote(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **318** |

---

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Net realized gain (loss)** | **Net realized gain (loss)** | **Net unrealized appreciation (depreciation)** | **Net unrealized appreciation (depreciation)** |
| <br>**Contracts** | <br>**Risk type** | &nbsp;&nbsp; **Location on statement of** <br> **operations**<br>| **Value** | &nbsp;&nbsp;&nbsp;&nbsp; **Location on statement of** <br> **operations**<br>| **Value** |
| Options purchased <br> (futures style)<br>| Interest | &nbsp;&nbsp; Net realized gain (loss) on options <br> purchased (futures style)<br>| $(44)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on options <br> purchased (futures style)<br>| $7 |
| Options written <br> (futures style)<br>| Interest | &nbsp;&nbsp; Net realized gain (loss) on options <br> written<br>| 27 | &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on options written<br>| (5)<br>|
| Futures | Interest | &nbsp;&nbsp; Net realized gain (loss) on futures <br> contracts<br>| (227)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on futures contracts<br>| 519 |
| Forward currency | Currency | &nbsp;&nbsp; Net realized gain (loss) on forward <br> currency contracts<br>| (4788)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on forward currency <br> contracts<br>| (140)<br>|
| Swap | Interest | &nbsp;&nbsp; Net realized gain (loss) on swap <br> contracts<br>| 24 | &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on swap contracts<br>| 223 |
| Swap | Credit | &nbsp;&nbsp; Net realized gain (loss) on swap <br> contracts<br>| (18)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on swap contracts<br>| (19)<br>|
|  |  |  | $(5026)<br>|  | $585 |

---

**The Bond Fund of America** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Assets** | **Assets** | **Liabilities** | **Liabilities** |
| <br>**Contracts** | <br>**Risk type** | &nbsp;&nbsp; **Location on statement of** <br>**assets and liabilities**<br>| **Value** | &nbsp;&nbsp;&nbsp;&nbsp; **Location on statement of** <br>**assets and liabilities**<br>| **Value** |
| Futures | Interest | Unrealized appreciation<sup>1</sup> <br>| $44636 | Unrealized depreciation<sup>1</sup> <br>| $3297 |
| Forward currency | Currency | &nbsp;&nbsp; Unrealized appreciation on open <br> forward currency contracts<br>| 637 | &nbsp;&nbsp;&nbsp;&nbsp; Unrealized depreciation on open <br> forward currency contracts<br>| 2964 |
| Swap (centrally <br> cleared)<br>| Interest | Unrealized appreciation<sup>1</sup> <br>| 1464 | Unrealized depreciation<sup>1</sup> <br>| 3389 |
| Swap (bilateral) | Interest | Bilateral swaps, at value | 2806 | Bilateral swaps, at value | 1761 |
| Swap (centrally <br> cleared)<br>| Credit | Unrealized appreciation<sup>1</sup> <br>| 461 | Unrealized depreciation<sup>1</sup> <br>| 2599 |
|  |  |  | $50004 |  | $14010 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Net realized gain (loss)** | **Net realized gain (loss)** | **Net unrealized appreciation (depreciation)** | **Net unrealized appreciation (depreciation)** |
| <br>**Contracts** | <br>**Risk type** | &nbsp;&nbsp; **Location on statement of** <br> **operations**<br>| **Value** | &nbsp;&nbsp;&nbsp;&nbsp; **Location on statement of** <br> **operations**<br>| **Value** |
| Futures | Interest | &nbsp;&nbsp; Net realized gain (loss) on futures <br> contracts<br>| $(29364)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on futures contracts<br>| $71589 |
| Forward currency | Currency | &nbsp;&nbsp; Net realized gain (loss) on forward <br> currency contracts<br>| (8500)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on forward currency <br> contracts<br>| (4153)<br>|
| Swap | Interest | &nbsp;&nbsp; Net realized gain (loss) on swap <br> contracts<br>| 4209 | &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on swap contracts<br>| 5700 |
| Swap | Credit | &nbsp;&nbsp; Net realized gain (loss) on swap <br> contracts<br>| 977 | &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on swap contracts<br>| (2152)<br>|
|  |  |  | $(32678)<br>|  | $70984 |

---

Refer to the end of the table(s) for footnote(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **319** | American Funds Insurance Series |

---

------

**Capital World Bond Fund** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Assets** | **Assets** | **Liabilities** | **Liabilities** |
| <br>**Contracts** | <br>**Risk type** | &nbsp;&nbsp; **Location on statement of** <br>**assets and liabilities**<br>| **Value** | &nbsp;&nbsp;&nbsp;&nbsp; **Location on statement of** <br>**assets and liabilities**<br>| **Value** |
| Options purchased <br> (equity style)<br>| Currency | Investment securities | $35 | Investment securities | $— |
| Options written <br> (equity style)<br>| Currency | Options written, at value |  | Options written, at value | 12 |
| Options purchased <br> (futures style)<br>| Interest | Unrealized appreciation<sup>1</sup> <br>| 64 | Unrealized depreciation<sup>1</sup> <br>|  |
| Options written <br> (futures style)<br>| Interest | Unrealized appreciation<sup>1</sup> <br>|  | Unrealized depreciation<sup>1</sup> <br>| 39 |
| Futures | Interest | Unrealized appreciation<sup>1</sup> <br>| 3955 | Unrealized depreciation<sup>1</sup> <br>| 616 |
| Forward currency | Currency | &nbsp;&nbsp; Unrealized appreciation on open <br> forward currency contracts<br>| 3338 | &nbsp;&nbsp;&nbsp;&nbsp; Unrealized depreciation on open <br> forward currency contracts<br>| 3277 |
| Swap (centrally <br> cleared)<br>| Interest | Unrealized appreciation<sup>1</sup> <br>| 1002 | Unrealized depreciation<sup>1</sup> <br>| 494 |
| Swap (bilateral) | Interest | Bilateral swaps, at value | 522 | Bilateral swaps, at value | 3690 |
| Swap (centrally <br> cleared)<br>| Credit | Unrealized appreciation<sup>1</sup> <br>| 15 | Unrealized depreciation<sup>1</sup> <br>| 424 |
|  |  |  | $8931 |  | $8552 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Net realized gain (loss)** | **Net realized gain (loss)** | **Net unrealized appreciation (depreciation)** | **Net unrealized appreciation (depreciation)** |
| <br>**Contracts** | <br>**Risk type** | &nbsp;&nbsp; **Location on statement of** <br> **operations**<br>| **Value** | &nbsp;&nbsp;&nbsp;&nbsp; **Location on statement of** <br> **operations**<br>| **Value** |
| Options purchased <br> (equity style)<br>| Interest | &nbsp;&nbsp; Net realized gain (loss) on <br> investments<br>| $(2)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on investments<br>| $18 |
| Options purchased <br> (equity style)<br>| Currency | &nbsp;&nbsp; Net realized gain (loss) on <br> investments<br>| 180 | &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on investments<br>| 31 |
| Options written <br> (equity style)<br>| Currency | &nbsp;&nbsp; Net realized gain (loss) on options <br> written<br>| 52 | &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on options written<br>| 54 |
| Options purchased <br> (futures style)<br>| Interest | &nbsp;&nbsp; Net realized gain (loss) on options <br> purchased (futures style)<br>| (399)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on options <br> purchased (futures style)<br>| 64 |
| Options written <br> (futures style)<br>| Interest | &nbsp;&nbsp; Net realized gain (loss) on options <br> written<br>| 245 | &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on options written<br>| (39)<br>|
| Futures | Interest | &nbsp;&nbsp; Net realized gain (loss) on futures <br> contracts<br>| (425)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on futures contracts<br>| 5267 |
| Forward currency | Currency | &nbsp;&nbsp; Net realized gain (loss) on forward <br> currency contracts<br>| 1112 | &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on forward currency <br> contracts<br>| 118 |
| Swap | Interest | &nbsp;&nbsp; Net realized gain (loss) on swap <br> contracts<br>| (205)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on swap contracts<br>| 3337 |
| Swap | Credit | &nbsp;&nbsp; Net realized gain (loss) on swap <br> contracts<br>| 609 | &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on swap contracts<br>| (296)<br>|
|  |  |  | $1167 |  | $8554 |

---

Refer to the end of the table(s) for footnote(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **320** |

---

------

**American High-Income Trust** 

---

| | | | |
|:---|:---|:---|:---|
| <br>**Contracts** | <br>**Risk type** | **Assets**<br>**Value** | **Liabilities**<br>**Value** |
| Futures | Interest<br> Unrealized appreciation<sup>1</sup> <br>| $197<br> Unrealized depreciation<sup>1</sup> <br>| $59 |
| Swap (centrally <br> cleared)<br>| Credit<br> Unrealized appreciation<sup>1</sup> <br>| —<br> Unrealized depreciation<sup>1</sup> <br>| 482 |
|  |  | $197 | $541 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Net realized gain (loss)** | **Net realized gain (loss)** | **Net unrealized appreciation (depreciation)** | **Net unrealized appreciation (depreciation)** |
| <br>**Contracts** | <br>**Risk type** | &nbsp;&nbsp; **Location on statement of** <br> **operations**<br>| **Value** | &nbsp;&nbsp;&nbsp;&nbsp; **Location on statement of** <br> **operations**<br>| **Value** |
| Futures | Interest | &nbsp;&nbsp; Net realized gain (loss) on futures <br> contracts<br>| $160 | &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on futures contracts<br>| $214 |
| Swap | Credit | &nbsp;&nbsp; Net realized gain (loss) on swap <br> contracts<br>| (1)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on swap contracts<br>| (525)<br>|
|  |  |  | $159 |  | $(311)<br>|

---

**American Funds Mortgage Fund** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Assets** | **Assets** | **Liabilities** | **Liabilities** |
| <br>**Contracts** | <br>**Risk type** | &nbsp;&nbsp; **Location on statement of** <br>**assets and liabilities**<br>| **Value** | &nbsp;&nbsp;&nbsp;&nbsp; **Location on statement of** <br>**assets and liabilities**<br>| **Value** |
| Options purchased <br> (equity style)<br>| Interest | Investment securities | $5 | Investment securities | $— |
| Futures | Interest | Unrealized appreciation<sup>1</sup> <br>| 603 | Unrealized depreciation<sup>1</sup> <br>| 24 |
| Swap (centrally <br> cleared)<br>| Interest | Unrealized appreciation<sup>1</sup> <br>| 101 | Unrealized depreciation<sup>1</sup> <br>| 1 |
|  |  |  | $709 |  | $25 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Net realized gain (loss)** | **Net realized gain (loss)** | **Net unrealized appreciation (depreciation)** | **Net unrealized appreciation (depreciation)** |
| <br>**Contracts** | <br>**Risk type** | &nbsp;&nbsp; **Location on statement of** <br> **operations**<br>| **Value** | &nbsp;&nbsp;&nbsp;&nbsp; **Location on statement of** <br> **operations**<br>| **Value** |
| Options purchased <br> (equity style)<br>| Interest | &nbsp;&nbsp; Net realized gain (loss) on <br> investments<br>| $(10)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on investments<br>| $(7)<br>|
| Futures | Interest | &nbsp;&nbsp; Net realized gain (loss) on futures <br> contracts<br>| 243 | &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on futures contracts<br>| 920 |
| Swap | Interest | &nbsp;&nbsp; Net realized gain (loss) on swap <br> contracts<br>| 9 | &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on swap contracts<br>| (41)<br>|
|  |  |  | $242 |  | $872 |

---

Refer to the end of the table(s) for footnote(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **321** | American Funds Insurance Series |

---

------

**U.S. Government Securities Fund** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Assets** | **Assets** | **Liabilities** | **Liabilities** |
| <br>**Contracts** | <br>**Risk type** | &nbsp;&nbsp; **Location on statement of** <br>**assets and liabilities**<br>| **Value** | &nbsp;&nbsp;&nbsp;&nbsp; **Location on statement of** <br>**assets and liabilities**<br>| **Value** |
| Options purchased <br> (equity style)<br>| Interest | Investment securities | $206 | Investment securities | $— |
| Futures | Interest | Unrealized appreciation<sup>1</sup> <br>| 9883 | Unrealized depreciation<sup>1</sup> <br>| 404 |
| Swap (centrally <br> cleared)<br>| Interest | Unrealized appreciation<sup>1</sup> <br>| 14278 | Unrealized depreciation<sup>1</sup> <br>| 2762 |
|  |  |  | $24367 |  | $3166 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Net realized gain (loss)** | **Net realized gain (loss)** | **Net unrealized appreciation (depreciation)** | **Net unrealized appreciation (depreciation)** |
| <br>**Contracts** | <br>**Risk type** | &nbsp;&nbsp; **Location on statement of** <br> **operations**<br>| **Value** | &nbsp;&nbsp;&nbsp;&nbsp; **Location on statement of** <br> **operations**<br>| **Value** |
| Options purchased <br> (equity style)<br>| Interest | &nbsp;&nbsp; Net realized gain (loss) on <br> investments<br>| $(336)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on investments<br>| $(296)<br>|
| Futures | Interest | &nbsp;&nbsp; Net realized gain (loss) on futures <br> contracts<br>| 6752 | &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on futures contracts<br>| 16396 |
| Swap | Interest | &nbsp;&nbsp; Net realized gain (loss) on swap <br> contracts<br>| 2638 | &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on swap contracts<br>| (2276)<br>|
|  |  |  | $9054 |  | $13824 |

---

**Managed Risk Growth Fund** 

---

| | | | |
|:---|:---|:---|:---|
| <br>**Contracts** | <br>**Risk type** | **Assets**<br>**Value** | **Liabilities**<br>**Value** |
| Options purchased <br> (equity style)<br>| Equity<br> &nbsp;&nbsp; Investment securities from <br> unaffiliated issuers<sup>3</sup> <br>| $3271<br>&nbsp;&nbsp;&nbsp;&nbsp; Investment securities from <br> unaffiliated issuers<sup>3</sup> <br>| $— |
| Futures | Currency<br> Unrealized appreciation<sup>1</sup> <br>| —<br> Unrealized depreciation<sup>1</sup> <br>| 6 |
| Futures | Equity<br> Unrealized appreciation<sup>1</sup> <br>| 66<br> Unrealized depreciation<sup>1</sup> <br>|  |
|  |  | $3337 | $6 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Net realized gain (loss)** | **Net realized gain (loss)** | **Net unrealized appreciation (depreciation)** | **Net unrealized appreciation (depreciation)** |
| <br>**Contracts** | <br>**Risk type** | &nbsp;&nbsp; **Location on statement of** <br> **operations**<br>| **Value** | &nbsp;&nbsp;&nbsp;&nbsp; **Location on statement of** <br> **operations**<br>| **Value** |
| Options purchased <br> (equity style)<br>| Equity | &nbsp;&nbsp; Net realized gain (loss) on <br> investments in unaffiliated issuers<br>| $(2283)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on investments in <br> unaffiliated issuers<br>| $15<br>|
| Futures | Currency | &nbsp;&nbsp; Net realized gain (loss) on futures <br> contracts<br>| (350)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on futures contracts<br>| (10)<br>|
| Futures | Equity | &nbsp;&nbsp; Net realized gain (loss) on futures <br> contracts<br>| (14664)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on futures contracts<br>| (397)<br>|
| Futures | Interest | &nbsp;&nbsp; Net realized gain (loss) on futures <br> contracts<br>| 8 | &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on futures contracts<br>| 4 |
|  |  |  | $(17289)<br>|  | $(388)<br>|

---

Refer to the end of the table(s) for footnote(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **322** |

---

------

**Managed Risk International Fund** 

---

| | | | |
|:---|:---|:---|:---|
| <br>**Contracts** | <br>**Risk type** | **Assets**<br>**Value** | **Liabilities**<br>**Value** |
| Options purchased <br> (equity style)<br>| Equity<br> &nbsp;&nbsp; Investment securities from <br> unaffiliated issuers<sup>3</sup> <br>| $481<br>&nbsp;&nbsp;&nbsp;&nbsp; Investment securities from <br> unaffiliated issuers<sup>3</sup> <br>| $— |
| Futures | Equity<br> Unrealized appreciation<sup>1</sup> <br>| —<br> Unrealized depreciation<sup>1</sup> <br>| 126 |
|  |  | $481 | $126 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Net realized gain (loss)** | **Net realized gain (loss)** | **Net unrealized appreciation (depreciation)** | **Net unrealized appreciation (depreciation)** |
| <br>**Contracts** | <br>**Risk type** | &nbsp;&nbsp; **Location on statement of** <br> **operations**<br>| **Value** | &nbsp;&nbsp;&nbsp;&nbsp; **Location on statement of** <br> **operations**<br>| **Value** |
| Options purchased <br> (equity style)<br>| Equity | &nbsp;&nbsp; Net realized gain (loss) on <br> investments in unaffiliated issuers<br>| $(561)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on investments in <br> unaffiliated issuers<br>| $(152)<br>|
| Futures | Currency | &nbsp;&nbsp; Net realized gain (loss) on futures <br> contracts<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on futures contracts<br>|  |
| Futures | Equity | &nbsp;&nbsp; Net realized gain (loss) on futures <br> contracts<br>| (6393)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on futures contracts<br>| (230)<br>|
| Futures | Interest | &nbsp;&nbsp; Net realized gain (loss) on futures <br> contracts<br>| 6 | &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on futures contracts<br>| 3 |
|  |  |  | $(6948)<br>|  | $(379)<br>|

---

**Managed Risk Washington Mutual Investors Fund** 

---

| | | | |
|:---|:---|:---|:---|
| <br>**Contracts** | <br>**Risk type** | **Assets**<br>**Value** | **Liabilities**<br>**Value** |
| Options purchased <br> (equity style)<br>| Equity<br> &nbsp;&nbsp; Investment securities from <br> unaffiliated issuers<sup>3</sup> <br>| $1203<br>&nbsp;&nbsp;&nbsp;&nbsp; Investment securities from <br> unaffiliated issuers<sup>3</sup> <br>| $— |
| Futures | Equity<br> Unrealized appreciation<sup>1</sup> <br>| 298<br> Unrealized depreciation<sup>1</sup> <br>|  |
|  |  | $1501<br>| $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Net realized gain (loss)** | **Net realized gain (loss)** | **Net unrealized appreciation (depreciation)** | **Net unrealized appreciation (depreciation)** |
| <br>**Contracts** | <br>**Risk type** | &nbsp;&nbsp; **Location on statement of** <br> **operations**<br>| **Value** | &nbsp;&nbsp;&nbsp;&nbsp; **Location on statement of** <br> **operations**<br>| **Value** |
| Options purchased <br> (equity style)<br>| Equity | &nbsp;&nbsp; Net realized gain (loss) on <br> investments in unaffiliated issuers<br>| $(1416)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on investments in <br> unaffiliated issuers<br>| $(135)<br>|
| Futures | Currency | &nbsp;&nbsp; Net realized gain (loss) on futures <br> contracts<br>| (183)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on futures contracts<br>|  |
| Futures | Equity | &nbsp;&nbsp; Net realized gain (loss) on futures <br> contracts<br>| (9762)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on futures contracts<br>| 364 |
| Futures | Interest | &nbsp;&nbsp; Net realized gain (loss) on futures <br> contracts<br>| 14 | &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on futures contracts<br>| 8 |
|  |  |  | $(11347)<br>|  | $237 |

---

Refer to the end of the table(s) for footnote(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **323** | American Funds Insurance Series |

---

------

**Managed Risk Growth-Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| <br>**Contracts** | <br>**Risk type** | **Assets**<br>**Value** | **Liabilities**<br>**Value** |
| Options purchased <br> (equity style)<br>| Equity<br> &nbsp;&nbsp; Investment securities from <br> unaffiliated issuers<sup>3</sup> <br>| $14515<br>&nbsp;&nbsp;&nbsp;&nbsp; Investment securities from <br> unaffiliated issuers<sup>3</sup> <br>| $— |
| Futures | Equity<br> Unrealized appreciation<sup>1</sup> <br>| 3205<br> Unrealized depreciation<sup>1</sup> <br>|  |
|  |  | $17720<br>| $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Net realized gain (loss)** | **Net realized gain (loss)** | **Net unrealized appreciation (depreciation)** | **Net unrealized appreciation (depreciation)** |
| <br>**Contracts** | <br>**Risk type** | &nbsp;&nbsp; **Location on statement of** <br> **operations**<br>| **Value** | &nbsp;&nbsp;&nbsp;&nbsp; **Location on statement of** <br> **operations**<br>| **Value** |
| Options purchased <br> (equity style)<br>| Equity | &nbsp;&nbsp; Net realized gain (loss) on <br> investments in unaffiliated issuers<br>| $(14007)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on investments in <br> unaffiliated issuers<br>| $(1473)<br>|
| Futures | Currency | &nbsp;&nbsp; Net realized gain (loss) on futures <br> contracts<br>| (1347)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on futures contracts<br>|  |
| Futures | Equity | &nbsp;&nbsp; Net realized gain (loss) on futures <br> contracts<br>| (53591)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on futures contracts<br>| 4197<br>|
| Futures | Interest | &nbsp;&nbsp; Net realized gain (loss) on futures <br> contracts<br>| 45 | &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on futures contracts<br>| 25 |
|  |  |  | $(68900)<br>|  | $2749 |

---

**Managed Risk Asset Allocation Fund** 

---

| | | | |
|:---|:---|:---|:---|
| <br>**Contracts** | <br>**Risk Type** | **Assets**<br>**Value** | **Liabilities**<br>**Value** |
| Options purchased <br> (equity style)<br>| Equity<br> &nbsp;&nbsp; Investment securities from <br> unaffiliated issuers<sup>3</sup> <br>| $2833<br> &nbsp;&nbsp;&nbsp;&nbsp; Investment securities from <br> unaffiliated issuers<sup>3</sup> <br>| $— |
| Futures | Equity<br> Unrealized appreciation<sup>1</sup> <br>| 638<br> Unrealized depreciation<sup>1</sup> <br>|  |
|  |  | $3471<br>| $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Net realized gain (loss)** | **Net realized gain (loss)** | **Net unrealized appreciation (depreciation)** | **Net unrealized appreciation (depreciation)** |
| <br>**Contracts** | <br>**Risk type** | &nbsp;&nbsp; **Location on statement of** <br> **operations**<br>| **Value** | &nbsp;&nbsp;&nbsp;&nbsp; **Location on statement of** <br> **operations**<br>| **Value** |
| Options purchased <br> (equity style)<br>| Equity | &nbsp;&nbsp; Net realized gain (loss) on <br> investments in unaffiliated issuers<br>| $(1782)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on investments in <br> unaffiliated issuers<br>| $(299)<br>|
| Futures | Currency | &nbsp;&nbsp; Net realized gain (loss) on futures <br> contracts<br>| (513)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on futures contracts<br>|  |
| Futures | Equity | &nbsp;&nbsp; Net realized gain (loss) on futures <br> contracts<br>| (50070)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on futures contracts<br>| 1047<br>|
| Futures | Interest | &nbsp;&nbsp; Net realized gain (loss) on futures <br> contracts<br>| 709 | &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on futures contracts<br>| 314 |
|  |  |  | $(51656)<br>|  | $1062 |

---

<sup>1</sup>

Includes cumulative appreciation/depreciation on futures style options, futures contracts, centrally cleared interest rate swaps and/or centrally cleared credit default swaps as reported in the applicable table following each fund's investment portfolio. Only current day's variation margin is reported within each fund's statement of assets and liabilities.

<sup>2</sup>

Amount less than one thousand.

<sup>3</sup>

Includes options purchased as reported in each fund's investment portfolio.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **324** |

---

------

**Collateral** — Some funds either receive or pledge highly liquid assets, such as cash or U.S. government securities, as collateral due to securities lending and/or their use of option contracts, futures contracts, forward currency contracts, interest rate swaps, credit default swaps and/or future delivery contracts. For securities lending, each participating fund receives collateral in exchange for lending investment securities. The lending agent may reinvest collateral from securities lending transactions according to agreed parameters. For options on equity indexes, options on futures, futures contracts, centrally cleared interest rate swaps and centrally cleared credit default swaps, the program calls for each participating fund to pledge collateral for initial and variation margin by contract. For options on foreign currencies, forward currency contracts and bilateral swaps, the program calls for each participating fund to either receive or pledge collateral based on the net gain or loss on unsettled contracts by counterparty. For future delivery contracts, the program calls for each participating fund to either receive or pledge collateral based on the net gain or loss on unsettled contracts by certain counterparties. The purpose of the collateral is to cover potential losses that could occur in the event that either party cannot meet its contractual obligation. Non-cash collateral pledged by each participating fund, if any, is disclosed in each fund's investment portfolio, and cash collateral pledged by each participating fund, if any, is held in a segregated account with the fund's custodian, which is reflected as pledged cash collateral in each fund's statement of assets and liabilities.

**Rights of offset** — Funds that hold forward currency contracts, options on foreign currencies and bilateral swaps have enforceable master netting agreements with certain counterparties, where amounts payable by each party to the other in the same currency (with the same settlement date and with the same counterparty) are settled net of each party's payment obligation. If an early termination date occurs under these agreements following an event of default or termination event, all obligations of each party to its counterparty are settled net through a single payment in a single currency ("close-out netting"). For financial reporting purposes, the funds do not offset financial assets and financial liabilities that are subject to these master netting arrangements in the statements of assets and liabilities.

The following tables present each fund's forward currency contracts, options on foreign currencies and bilateral swaps by counterparty that are subject to master netting agreements but that are not offset in the funds' statements of assets and liabilities. The net amount column shows the impact of offsetting on the funds' statement of assets and liabilities as of June 30, 2025, if close-out netting was exercised (dollars in thousands):

**New World Fund** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Gross amounts** <br>**recognized in the** <br>**statement of assets** <br>**and liabilities** | **Gross amounts not offset in the** <br>**statement of assets and liabilities and** <br>**subject to a master netting agreement** | **Gross amounts not offset in the** <br>**statement of assets and liabilities and** <br>**subject to a master netting agreement** | **Gross amounts not offset in the** <br>**statement of assets and liabilities and** <br>**subject to a master netting agreement** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net** <br>**amount** |
| **Counterparty** | **Gross amounts** <br>**recognized in the** <br>**statement of assets** <br>**and liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Available** <br>**to offset**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Non-cash** <br>**collateral\***<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Cash** <br>**collateral\***<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net** <br>**amount** |
| Assets: |  |  |  |  |  |
| BNP Paribas | $18<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(2)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $16<br>|
| Citibank | 62<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (26)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36<br>|
| HSBC Bank | 8<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8<br>|
| Morgan Stanley | 2<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| Standard Chartered Bank | — <br><sup>†</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>†</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Total | $90<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(30)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $60<br>|
| Liabilities: |  |  |  |  |  |
| Bank of America | $61<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $61<br>|
| Bank of New York Mellon | 1<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1<br>|
| BNP Paribas | 2<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| Citibank | 26<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (26)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| Goldman Sachs | 18<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18<br>|
| JPMorgan Chase | 9<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9<br>|
| Morgan Stanley | 23<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21<br>|
| Standard Chartered Bank | 28<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>†</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28<br>|
| Total | $168<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(30)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $138<br>|

---

Refer to the end of the table(s) for footnote(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **325** | American Funds Insurance Series |

---

------

**American Funds Global Balanced Fund** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Gross amounts** <br>**recognized in the** <br>**statement of assets** <br>**and liabilities** | **Gross amounts not offset in the** <br>**statement of assets and liabilities and** <br>**subject to a master netting agreement** | **Gross amounts not offset in the** <br>**statement of assets and liabilities and** <br>**subject to a master netting agreement** | **Gross amounts not offset in the** <br>**statement of assets and liabilities and** <br>**subject to a master netting agreement** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net** <br>**amount** |
| **Counterparty** | **Gross amounts** <br>**recognized in the** <br>**statement of assets** <br>**and liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Available** <br>**to offset**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Non-cash** <br>**collateral\***<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Cash** <br>**collateral\***<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net** <br>**amount** |
| Assets: |  |  |  |  |  |
| Bank of America | $15<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(15)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—<br>|
| Barclays Bank PLC | 44<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (28)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16<br>|
| BNP Paribas | 64<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (64)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| Citibank | 10<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (10)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| Goldman Sachs | 116<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (116)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| HSBC Bank | 46<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (46)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| JPMorgan Chase | 11<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (11)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| Morgan Stanley | 7<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| Standard Chartered Bank | 19<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (19)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| UBS AG | 8<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (8)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| Total | $340<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(324)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $16<br>|
| Liabilities: |  |  |  |  |  |
| Bank of America | $45<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(15)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(30)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—<br>|
| Bank of New York Mellon | 5<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5<br>|
| Barclays Bank PLC | 28<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (28)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| BNP Paribas | 70<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (64)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6<br>|
| Citibank | 78<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (10)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 68<br>|
| Goldman Sachs | 223<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (116)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (107)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| HSBC Bank | 48<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (46)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2<br>|
| JPMorgan Chase | 20<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (11)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (9)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| Morgan Stanley | 207<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200<br>|
| Standard Chartered Bank | 48<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (19)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29<br>|
| UBS AG | 113<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (8)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 105<br>|
| Total | $885<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(324)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(146)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $415<br>|

---

**The Bond Fund of America** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Gross amounts** <br>**recognized in the** <br>**statement of assets** <br>**and liabilities** | **Gross amounts not offset in the** <br>**statement of assets and liabilities and** <br>**subject to a master netting agreement** | **Gross amounts not offset in the** <br>**statement of assets and liabilities and** <br>**subject to a master netting agreement** | **Gross amounts not offset in the** <br>**statement of assets and liabilities and** <br>**subject to a master netting agreement** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net** <br>**amount** |
| **Counterparty** | **Gross amounts** <br>**recognized in the** <br>**statement of assets** <br>**and liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Available** <br>**to offset**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Non-cash** <br>**collateral\***<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Cash** <br>**collateral\***<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net** <br>**amount** |
| Assets: |  |  |  |  |  |
| Bank of America | $191<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(190)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1<br>|
| Barclays Bank PLC | 864<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (533)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 331<br>|
| BNP Paribas | 126<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (126)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| Citibank | 412<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 412<br>|
| Goldman Sachs | 1701<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (494)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1207<br>|
| HSBC Bank | 78<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (78)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| JPMorgan Chase | 71<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (71)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| Total | $3443<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(1492)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1951<br>|
| Liabilities: |  |  |  |  |  |
| Bank of America | $190<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(190)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—<br>|
| Barclays Bank PLC | 533<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (533)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| BNP Paribas | 2672<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (126)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2475)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 71<br>|
| Goldman Sachs | 494<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (494)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| HSBC Bank | 81<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (78)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3<br>|
| JPMorgan Chase | 620<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (71)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 549<br>|
| UBS AG | 135<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 135<br>|
| Total | $4725<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(1492)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(2475)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $758<br>|

---

Refer to the end of the table(s) for footnote(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **326** |

---

------

**Capital World Bond Fund** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Gross amounts** <br>**recognized in the** <br>**statement of assets** <br>**and liabilities** | **Gross amounts not offset in the** <br>**statement of assets and liabilities and** <br>**subject to a master netting agreement** | **Gross amounts not offset in the** <br>**statement of assets and liabilities and** <br>**subject to a master netting agreement** | **Gross amounts not offset in the** <br>**statement of assets and liabilities and** <br>**subject to a master netting agreement** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net** <br>**amount** |
| **Counterparty** | **Gross amounts** <br>**recognized in the** <br>**statement of assets** <br>**and liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Available** <br>**to offset**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Non-cash** <br>**collateral\***<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Cash** <br>**collateral\***<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net** <br>**amount** |
| Assets: |  |  |  |  |  |
| Bank of America | $995<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(809)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $186<br>|
| Bank of New York Mellon | 119<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 119<br>|
| Barclays Bank PLC | 446<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (446)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| BNP Paribas | 319<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (319)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| Citibank | 675<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (675)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| Goldman Sachs | 215<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (215)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| HSBC Bank | 845<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (358)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (310)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 177<br>|
| JPMorgan Chase | 5<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| Morgan Stanley | 80<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (80)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| Standard Chartered Bank | 162<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (162)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| UBS AG | 34<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (34)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| Total | $3895<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(3103)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(310)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $482<br>|
| Liabilities: |  |  |  |  |  |
| Bank of America | $809<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(809)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—<br>|
| Barclays Bank PLC | 558<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (446)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (112)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| BNP Paribas | 670<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (319)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (288)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 63<br>|
| Citibank | 683<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (675)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8<br>|
| Goldman Sachs | 2520<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (215)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2298)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7<br>|
| HSBC Bank | 358<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (358)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| JPMorgan Chase | 26<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (15)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6<br>|
| Morgan Stanley | 145<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (80)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 65<br>|
| Standard Chartered Bank | 449<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (162)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (287)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| UBS AG | 761<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (34)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (340)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 387<br>|
| Total | $6979<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(3103)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(3340)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $536<br>|

---

\*

Collateral is shown on a settlement basis.

<sup>†</sup>

Amount less than one thousand.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **327** | American Funds Insurance Series |

---

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**6. Taxation and distributions**

------

**Federal income taxation** — Each fund complies with the requirements under Subchapter M of the Internal Revenue Code applicable to regulated investment companies and intends to distribute substantially all of its net taxable income and net capital gains each year. The funds are not subject to income taxes to the extent such distributions are made. Therefore, no federal income tax provision is required.

As of and during the period ended June 30, 2025, none of the funds had a liability for any unrecognized tax benefits. Each fund recognizes interest and penalties, if any, related to unrecognized tax benefits as income tax expense in their respective statements of operations. During the period, none of the funds incurred any significant interest or penalties.

Each fund's tax returns are generally not subject to examination by federal, state and, if applicable, non-U.S. tax authorities after the expiration of each jurisdiction's statute of limitations, which is typically three years after the date of filing but can be extended in certain jurisdictions.

**Non-U.S. taxation** — Dividend and interest income, if any, are recorded net of non-U.S. taxes paid. The funds may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. As a result of rulings from European courts, the funds may file for additional reclaims related to prior years ("EU reclaims"). These reclaims are recorded when the amount is known and there are no significant uncertainties on collectability. During the six months ended June 30, 2025, some of the funds recognized EU reclaims (net of fees and the effect of realized gain or loss from currency translations) and interest related to European court rulings as follows (dollars in thousands):

---

| | | | |
|:---|:---|:---|:---|
| **Fund** | **Reclaims** | **Fees** | **Interest** |
| Global Growth Fund | &nbsp;&nbsp; $587 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $285 |
| Global Small Capitalization Fund | &nbsp;&nbsp; 45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| International Fund | &nbsp;&nbsp; 2072 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 309 |
| International Growth and Income Fund | &nbsp;&nbsp; 196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |

---

The reclaims and interest are included in dividend income and interest income, respectively, in each fund's statements of operations. Gains realized by the funds on the sale of securities in certain countries, if any, may be subject to non-U.S. taxes. The funds generally record an estimated deferred tax liability based on unrealized gains to provide for potential non-U.S. taxes payable upon the sale of these securities.

**Distributions** — Distributions determined on a tax basis may differ from net investment income and net realized gains for financial reporting purposes. These differences are due primarily to different treatment for items such as currency gains and losses; short-term capital gains and losses; capital losses related to sales of certain securities within 30 days of purchase; unrealized appreciation of certain investments in securities outside the U.S.; deferred expenses; cost of investments sold; paydowns on fixed-income securities; net capital losses; non-U.S. taxes on capital gains; amortization of premiums and discounts and income on certain investments. The fiscal year in which amounts are distributed may differ from the year in which the net investment income and net realized gains are recorded by the funds for financial reporting purposes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **328** |

---

------

Additional tax basis disclosures for each fund are as follows (dollars in thousands):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Global** <br>**Growth** <br>**Fund**<br>| **Global** <br>**Small** <br>**Capitalization** <br>**Fund**<br>| **Growth** <br>**Fund**<br>| **International** <br>**Fund**<br>| **New** <br>**World** <br>**Fund**<br>| **Washington** <br>**Mutual** <br>**Investors** <br>**Fund**<br>|
| **As of December 31, 2024:** |  |  |  |  |  |  |
| Undistributed ordinary income | &nbsp;&nbsp; $36695 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $592960 | &nbsp;&nbsp; $2838 | &nbsp;&nbsp; $15572 | &nbsp;&nbsp; $91745 |
| Late year ordinary loss deferral<sup>2</sup> <br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (5889)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Undistributed long-term capital gains | &nbsp;&nbsp; 1032377 | &nbsp;&nbsp; 65722 | &nbsp;&nbsp; 3442300 | &nbsp;&nbsp; — | &nbsp;&nbsp; 137294 | &nbsp;&nbsp; 720853 |
| Capital loss carryforward<sup>1</sup> <br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (206867)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Capital loss carryforward utilized | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 333805 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| **As of June 30, 2025:** |  |  |  |  |  |  |
| Gross unrealized appreciation on <br> investments<br>| &nbsp;&nbsp; 3672153 | &nbsp;&nbsp; 874249 | &nbsp;&nbsp; 29669987 | &nbsp;&nbsp; 1970140 | &nbsp;&nbsp; 1386903 | &nbsp;&nbsp; 4493198 |
| Gross unrealized depreciation on <br> investments<br>| &nbsp;&nbsp; (175826)<br>| &nbsp;&nbsp; (96526)<br>| &nbsp;&nbsp; (588478)<br>| &nbsp;&nbsp; (120463)<br>| &nbsp;&nbsp; (66083)<br>| &nbsp;&nbsp; (136080)<br>|
| Net unrealized appreciation <br> (depreciation) on investments<br>| &nbsp;&nbsp; 3496327 | &nbsp;&nbsp; 777723 | &nbsp;&nbsp; 29081509 | &nbsp;&nbsp; 1849677 | &nbsp;&nbsp; 1320820 | &nbsp;&nbsp; 4357118 |
| Cost of investments | &nbsp;&nbsp; 5158642 | &nbsp;&nbsp; 2334987 | &nbsp;&nbsp; 22505964 | &nbsp;&nbsp; 5410310 | &nbsp;&nbsp; 2432087 | &nbsp;&nbsp; 7297400 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **U.S. Small** <br> **and Mid Cap** <br> **Equity Fund**<br>| **Capital World** <br>**Growth and** <br>**Income Fund**<br>| **Growth-** <br>**Income** <br>**Fund**<br>| **International** <br>**Growth** <br>**and Income** <br>**Fund**<br>| **Capital** <br>**Income** <br>**Builder**<br>| **Asset** <br>**Allocation** <br>**Fund**<br>|
| **As of December 31, 2024:** |  |  |  |  |  |  |
| Undistributed ordinary income | &nbsp;&nbsp; $5 | &nbsp;&nbsp; $4026 | &nbsp;&nbsp; $485763 | &nbsp;&nbsp; $1421 | &nbsp;&nbsp; $14631 | &nbsp;&nbsp; $274951 |
| Undistributed long-term capital gains | &nbsp;&nbsp; — | &nbsp;&nbsp; 71132 | &nbsp;&nbsp; 6590885 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 1750583 |
| Capital loss carryforward<sup>1</sup> <br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (25671)<br>| &nbsp;&nbsp; (6862)<br>| &nbsp;&nbsp; — |
| Capital loss carryforward utilized | &nbsp;&nbsp; — | &nbsp;&nbsp; 69742 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 18956 | &nbsp;&nbsp; — |
| **As of June 30, 2025:** |  |  |  |  |  |  |
| Gross unrealized appreciation on <br> investments<br>| &nbsp;&nbsp; 1508 | &nbsp;&nbsp; 812185 | &nbsp;&nbsp; 18907142 | &nbsp;&nbsp; 114299 | &nbsp;&nbsp; 385128 | &nbsp;&nbsp; 8199326 |
| Gross unrealized depreciation on <br> investments<br>| &nbsp;&nbsp; (894)<br>| &nbsp;&nbsp; (47504)<br>| &nbsp;&nbsp; (167029)<br>| &nbsp;&nbsp; (11155)<br>| &nbsp;&nbsp; (26553)<br>| &nbsp;&nbsp; (567859)<br>|
| Net unrealized appreciation <br> (depreciation) on investments<br>| &nbsp;&nbsp; 614 | &nbsp;&nbsp; 764681 | &nbsp;&nbsp; 18740113 | &nbsp;&nbsp; 103144 | &nbsp;&nbsp; 358575 | &nbsp;&nbsp; 7631467 |
| Cost of investments | &nbsp;&nbsp; 15112 | &nbsp;&nbsp; 1243307 | &nbsp;&nbsp; 23895713 | &nbsp;&nbsp; 293020 | &nbsp;&nbsp; 1206185 | &nbsp;&nbsp; 20569509 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **American** <br>**Funds** <br>**Global** <br>**Balanced** <br>**Fund**<br>| **The Bond** <br>**Fund of** <br>**America**<br>| **Capital** <br>**World** <br>**Bond** <br>**Fund**<br>| **American** <br>**High-Income** <br>**Trust**<br>| **American** <br>**Funds** <br>**Mortgage** <br>**Fund**<br>| **Ultra-Short** <br>**Bond** <br>**Fund**<br>|
| **As of December 31, 2024:** |  |  |  |  |  |  |
| Undistributed ordinary income | &nbsp;&nbsp; $919 | &nbsp;&nbsp; $96579 | &nbsp;&nbsp; $3576 | &nbsp;&nbsp; $10769 | &nbsp;&nbsp; $895 | &nbsp;&nbsp; $2554 |
| Undistributed long-term capital gains | &nbsp;&nbsp; 15632 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Capital loss carryforward<sup>1</sup> <br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (1584772)<br>| &nbsp;&nbsp; (199982)<br>| &nbsp;&nbsp; (329227)<br>| &nbsp;&nbsp; (14210)<br>| &nbsp;&nbsp; (1)<br>|
| Capital loss carryforward utilized | &nbsp;&nbsp; 3502 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 2670 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| **As of June 30, 2025:** |  |  |  |  |  |  |
| Gross unrealized appreciation on <br> investments<br>| &nbsp;&nbsp; 86169 | &nbsp;&nbsp; 200273 | &nbsp;&nbsp; 58927 | &nbsp;&nbsp; 54453 | &nbsp;&nbsp; 2127 | &nbsp;&nbsp; 1 |
| Gross unrealized depreciation on <br> investments<br>| &nbsp;&nbsp; (9941)<br>| &nbsp;&nbsp; (244004)<br>| &nbsp;&nbsp; (64856)<br>| &nbsp;&nbsp; (38953)<br>| &nbsp;&nbsp; (1403)<br>| &nbsp;&nbsp; (31)<br>|
| Net unrealized appreciation <br> (depreciation) on investments<br>| &nbsp;&nbsp; 76228 | &nbsp;&nbsp; (43731)<br>| &nbsp;&nbsp; (5929)<br>| &nbsp;&nbsp; 15500 | &nbsp;&nbsp; 724 | &nbsp;&nbsp; (30)<br>|
| Cost of investments | &nbsp;&nbsp; 343260 | &nbsp;&nbsp; 11273203 | &nbsp;&nbsp; 1483160 | &nbsp;&nbsp; 972704 | &nbsp;&nbsp; 132267 | &nbsp;&nbsp; 328764 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Refer to the end of the table(s) for footnote(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **329** | American Funds Insurance Series |

---

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **U.S.** <br>**Government** <br>**Securities** <br>**Fund**<br>| **Managed** <br>**Risk** <br>**Growth** <br>**Fund**<br>| **Managed** <br>**Risk** <br>**International** <br>**Fund**<br>| **Managed** <br>**Risk** <br>**Washington** <br>**Mutual** <br>**Investors** <br>**Fund**<br>| **Managed** <br>**Risk** <br>**Growth-** <br>**Income** <br>**Fund**<br>| **Managed** <br>**Risk** <br>**Asset** <br>**Allocation** <br>**Fund**<br>|
| **As of December 31, 2024:** |  |  |  |  |  |  |
| Undistributed ordinary income | &nbsp;&nbsp; $14192 | &nbsp;&nbsp; $3030 | &nbsp;&nbsp; $1479 | &nbsp;&nbsp; $4678 | &nbsp;&nbsp; $29096 | &nbsp;&nbsp; $34222 |
| Undistributed long-term capital gains | &nbsp;&nbsp; — | &nbsp;&nbsp; 21721 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 80444 | &nbsp;&nbsp; 121846 |
| Capital loss carryforward<sup>1</sup> <br>| &nbsp;&nbsp; (285585)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (17954)<br>| &nbsp;&nbsp; (22352)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Capital loss carryforward utilized | &nbsp;&nbsp; — | &nbsp;&nbsp; 12281 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| **As of June 30, 2025:** |  |  |  |  |  |  |
| Gross unrealized appreciation on <br> investments<br>| &nbsp;&nbsp; 45694 | &nbsp;&nbsp; 117719 | &nbsp;&nbsp; 20510 | &nbsp;&nbsp; 60113 | &nbsp;&nbsp; 231817 | &nbsp;&nbsp; 177065 |
| Gross unrealized depreciation on <br> investments<br>| &nbsp;&nbsp; (50484)<br>| &nbsp;&nbsp; (64383)<br>| &nbsp;&nbsp; (22277)<br>| &nbsp;&nbsp; (25719)<br>| &nbsp;&nbsp; (76928)<br>| &nbsp;&nbsp; (47264)<br>|
| Net unrealized appreciation <br> (depreciation) on investments<br>| &nbsp;&nbsp; (4790)<br>| &nbsp;&nbsp; 53336 | &nbsp;&nbsp; (1767)<br>| &nbsp;&nbsp; 34394 | &nbsp;&nbsp; 154889 | &nbsp;&nbsp; 129801 |
| Cost of investments | &nbsp;&nbsp; 1914351 | &nbsp;&nbsp; 467686 | &nbsp;&nbsp; 115094 | &nbsp;&nbsp; 283921 | &nbsp;&nbsp; 1973291 | &nbsp;&nbsp; 1826040 |

---

<sup>1</sup>

Each fund's capital loss carryforward will be used to offset any capital gains realized by the fund in the current year or in subsequent years. Funds with a capital loss carryforward will not make distributions from capital gains while a capital loss carryforward remains.

<sup>2</sup>

This deferral is considered incurred in the subsequent year.

Distributions paid by each fund were characterized for tax purposes as follows (dollars in thousands):

**Global Growth Fund** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| **Share class** | **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid** <br>| **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid**<br>|
| Class 1 | &nbsp;&nbsp; $17222 | $455982 | $473204 | &nbsp;&nbsp;&nbsp;&nbsp; $65173 | $99126 | $164299 |
| Class 1A | &nbsp;&nbsp; 96 | 2766 | 2862 | &nbsp;&nbsp;&nbsp;&nbsp; 319 | 536 | 855 |
| Class 2 | &nbsp;&nbsp; 15237 | 443236 | 458473 | &nbsp;&nbsp;&nbsp;&nbsp; 57169 | 103301 | 160470 |
| Class 4 | &nbsp;&nbsp; 4149 | 130403 | 134552 | &nbsp;&nbsp;&nbsp;&nbsp; 12745 | 23878 | 36623 |
| Total | &nbsp;&nbsp; $36704 | $1032387 | $1069091 | &nbsp;&nbsp;&nbsp;&nbsp; $135406 | $226841 | $362247 |

---

**Global Small Capitalization Fund** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| **Share class** | **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid**<br>| **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid**<br>|
| Class 1 | &nbsp;&nbsp; $— | $19199 | $19199 | &nbsp;&nbsp;&nbsp;&nbsp; $24044 | $21820 | $45864 |
| Class 1A | &nbsp;&nbsp; — | 126 | 126 | &nbsp;&nbsp;&nbsp;&nbsp; 120 | 119 | 239 |
| Class 2 | &nbsp;&nbsp; — | 39094 | 39094 | &nbsp;&nbsp;&nbsp;&nbsp; 42943 | 43051 | 85994 |
| Class 4 | &nbsp;&nbsp; — | 7316 | 7316 | &nbsp;&nbsp;&nbsp;&nbsp; 6428 | 7070 | 13498 |
| Total | &nbsp;&nbsp; $— | $65735 | $65735 | &nbsp;&nbsp;&nbsp;&nbsp; $73535 | $72060 | $145595 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **330** |

---

------

**Growth Fund** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| **Share class** | **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid** <br>| **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid**<br>|
| Class 1 | &nbsp;&nbsp; $271740 | $1543000 | $1814740 | &nbsp;&nbsp;&nbsp;&nbsp; $121696 | $433019 | $554715 |
| Class 1A | &nbsp;&nbsp; 4439 | 26100 | 30539 | &nbsp;&nbsp;&nbsp;&nbsp; 1328 | 7268 | 8596 |
| Class 2 | &nbsp;&nbsp; 243730 | 1433339 | 1677069 | &nbsp;&nbsp;&nbsp;&nbsp; 72492 | 433759 | 506251 |
| Class 3 | &nbsp;&nbsp; 3240 | 18878 | 22118 | &nbsp;&nbsp;&nbsp;&nbsp; 1123 | 5725 | 6848 |
| Class 4 | &nbsp;&nbsp; 69855 | 421011 | 490866 | &nbsp;&nbsp;&nbsp;&nbsp; 9370 | 97988 | 107358 |
| Total | &nbsp;&nbsp; $593004 | $3442328 | $4035332 | &nbsp;&nbsp;&nbsp;&nbsp; $206009 | $977759 | $1183768 |

---

**International Fund** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| **Share class** | **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid**<br>| **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid**<br>|
| Class 1 | &nbsp;&nbsp; $2080 | $— | $2080 | &nbsp;&nbsp;&nbsp;&nbsp; $46267 | $— | $46267 |
| Class 1A | &nbsp;&nbsp; 4 |  | 4 | &nbsp;&nbsp;&nbsp;&nbsp; 157 |  | 157 |
| Class 2 | &nbsp;&nbsp; 776 |  | 776 | &nbsp;&nbsp;&nbsp;&nbsp; 40220 |  | 40220 |
| Class 3 | &nbsp;&nbsp; 5 |  | 5 | &nbsp;&nbsp;&nbsp;&nbsp; 191 |  | 191 |
| Class 4 | &nbsp;&nbsp; — |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 4485 |  | 4485 |
| Total | &nbsp;&nbsp; $2865 | $— | $2865 | &nbsp;&nbsp;&nbsp;&nbsp; $91320 | $— | $91320 |

---

**New World Fund** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| **Share class** | **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid** <br>| **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid** <br>|
| Class 1 | &nbsp;&nbsp; $8656 | $71532 | $80188 | &nbsp;&nbsp;&nbsp;&nbsp; $29713 | $8227 | $37940 |
| Class 1A | &nbsp;&nbsp; 49 | 453 | 502 | &nbsp;&nbsp;&nbsp;&nbsp; 167 | 49 | 216 |
| Class 2 | &nbsp;&nbsp; 3487 | 31619 | 35106 | &nbsp;&nbsp;&nbsp;&nbsp; 11293 | 3828 | 15121 |
| Class 4 | &nbsp;&nbsp; 3394 | 33694 | 37088 | &nbsp;&nbsp;&nbsp;&nbsp; 9604 | 3785 | 13389 |
| Total | &nbsp;&nbsp; $15586 | $137298 | $152884 | &nbsp;&nbsp;&nbsp;&nbsp; $50777 | $15889 | $66666 |

---

**Washington Mutual Investors Fund** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| **Share class** | **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid** <br>| **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid**<br>|
| Class 1 | &nbsp;&nbsp; $52115 | $397175 | $449290 | &nbsp;&nbsp;&nbsp;&nbsp; $111395 | $50394 | $161789 |
| Class 1A | &nbsp;&nbsp; 264 | 2103 | 2367 | &nbsp;&nbsp;&nbsp;&nbsp; 426 | 202 | 628 |
| Class 2 | &nbsp;&nbsp; 24149 | 193815 | 217964 | &nbsp;&nbsp;&nbsp;&nbsp; 46990 | 24567 | 71557 |
| Class 4 | &nbsp;&nbsp; 15307 | 127802 | 143109 | &nbsp;&nbsp;&nbsp;&nbsp; 23694 | 12608 | 36302 |
| Total | &nbsp;&nbsp; $91835 | $720895 | $812730 | &nbsp;&nbsp;&nbsp;&nbsp; $182505 | $87771 | $270276 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **331** | American Funds Insurance Series |

---

------

**U.S. Small and Mid Cap Equity Fund** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **For the period November 15, 2024**<sup>3</sup> **to** <br> **December 31, 2024** | **For the period November 15, 2024**<sup>3</sup> **to** <br> **December 31, 2024** | **For the period November 15, 2024**<sup>3</sup> **to** <br> **December 31, 2024** |
| **Share class** | **Ordinary** <br>**income**<br>| **Total** <br>**distributions** <br>**paid**<br>| **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid**<br>|
| Class 1 | &nbsp;&nbsp; $— <br><sup>4</sup><br>| $— <br><sup>4</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; $— <br><sup>4</sup><br>| $— | $— <br><sup>4</sup><br>|
| Class 1A | &nbsp;&nbsp; — <br><sup>4</sup><br>| — <br><sup>4</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>4</sup><br>|  | — <br><sup>4</sup><br>|
| Class 2 | &nbsp;&nbsp; — <br><sup>4</sup><br>| — <br><sup>4</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>4</sup><br>|  | — <br><sup>4</sup><br>|
| Class 4 | &nbsp;&nbsp; 5<br>— <br><sup>4</sup><br>| 5 | &nbsp;&nbsp;&nbsp;&nbsp; 13 |  | 13 |
| Total | &nbsp;&nbsp; $5<br>$— <br><sup>4</sup><br>| $5 | &nbsp;&nbsp;&nbsp;&nbsp; $13 | $— | $13 |

---

**Capital World Growth and Income Fund** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| **Share class** | **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid** <br>| **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid**<br>|
| Class 1 | &nbsp;&nbsp; $1434 | $21740 | $23174 | &nbsp;&nbsp;&nbsp;&nbsp; $11350 | $— | $11350 |
| Class 1A | &nbsp;&nbsp; 21 | 363 | 384 | &nbsp;&nbsp;&nbsp;&nbsp; 144 |  | 144 |
| Class 2 | &nbsp;&nbsp; 2061 | 37773 | 39834 | &nbsp;&nbsp;&nbsp;&nbsp; 17039 |  | 17039 |
| Class 4 | &nbsp;&nbsp; 519 | 11256 | 11775 | &nbsp;&nbsp;&nbsp;&nbsp; 3943 |  | 3943 |
| Total | &nbsp;&nbsp; $4035 | $71132 | $75167 | &nbsp;&nbsp;&nbsp;&nbsp; $32476 | $— | $32476 |

---

**Growth-Income Fund** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| **Share class** | **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid** <br>| **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid**<br>|
| Class 1 | &nbsp;&nbsp; $290697 | $3878399 | $4169096 | &nbsp;&nbsp;&nbsp;&nbsp; $338365 | $1023186 | $1361551 |
| Class 1A | &nbsp;&nbsp; 526 | 7252 | 7778 | &nbsp;&nbsp;&nbsp;&nbsp; 495 | 1702 | 2197 |
| Class 2 | &nbsp;&nbsp; 159838 | 2211126 | 2370964 | &nbsp;&nbsp;&nbsp;&nbsp; 163135 | 597677 | 760812 |
| Class 3 | &nbsp;&nbsp; 1732 | 23742 | 25474 | &nbsp;&nbsp;&nbsp;&nbsp; 1879 | 6513 | 8392 |
| Class 4 | &nbsp;&nbsp; 33021 | 470380 | 503401 | &nbsp;&nbsp;&nbsp;&nbsp; 26050 | 105495 | 131545 |
| Total | &nbsp;&nbsp; $485814 | $6590899 | $7076713 | &nbsp;&nbsp;&nbsp;&nbsp; $529924 | $1734573 | $2264497 |

---

**International Growth and Income Fund** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| **Share class** | **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid**<br>| **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid**<br>|
| Class 1 | &nbsp;&nbsp; $112 | $— | $112 | &nbsp;&nbsp;&nbsp;&nbsp; $461 | $— | $461 |
| Class 1A | &nbsp;&nbsp; 28 |  | 28 | &nbsp;&nbsp;&nbsp;&nbsp; 156 |  | 156 |
| Class 2 | &nbsp;&nbsp; 614 |  | 614 | &nbsp;&nbsp;&nbsp;&nbsp; 3897 |  | 3897 |
| Class 4 | &nbsp;&nbsp; 669 |  | 669 | &nbsp;&nbsp;&nbsp;&nbsp; 3584 |  | 3584 |
| Total | &nbsp;&nbsp; $1423 | $— | $1423 | &nbsp;&nbsp;&nbsp;&nbsp; $8098 | $— | $8098 |

---

Refer to the end of the table(s) for footnote(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **332** |

---

------

**Capital Income Builder** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| **Share class** | **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid**<br>| **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid**<br>|
| Class 1 | &nbsp;&nbsp; $9077 | $— | $9077 | &nbsp;&nbsp;&nbsp;&nbsp; $25390 | $— | $25390 |
| Class 1A | &nbsp;&nbsp; 143 |  | 143 | &nbsp;&nbsp;&nbsp;&nbsp; 397 |  | 397 |
| Class 2 | &nbsp;&nbsp; 212 |  | 212 | &nbsp;&nbsp;&nbsp;&nbsp; 575 |  | 575 |
| Class 4 | &nbsp;&nbsp; 6699 |  | 6699 | &nbsp;&nbsp;&nbsp;&nbsp; 19314 |  | 19314 |
| Total | &nbsp;&nbsp; $16131 | $— | $16131 | &nbsp;&nbsp;&nbsp;&nbsp; $45676 | $— | $45676 |

---

**Asset Allocation Fund** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| **Share class** | **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid** <br>| **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid**<br>|
| Class 1 | &nbsp;&nbsp; $164502 | $1019238 | $1183740 | &nbsp;&nbsp;&nbsp;&nbsp; $374078 | $678739 | $1052817 |
| Class 1A | &nbsp;&nbsp; 434 | 2795 | 3229 | &nbsp;&nbsp;&nbsp;&nbsp; 848 | 1422 | 2270 |
| Class 2 | &nbsp;&nbsp; 43502 | 280960 | 324462 | &nbsp;&nbsp;&nbsp;&nbsp; 92429 | 187595 | 280024 |
| Class 3 | &nbsp;&nbsp; 326 | 2081 | 2407 | &nbsp;&nbsp;&nbsp;&nbsp; 693 | 1326 | 2019 |
| Class 4 | &nbsp;&nbsp; 66287 | 445526 | 511813 | &nbsp;&nbsp;&nbsp;&nbsp; 127247 | 278890 | 406137 |
| Total | &nbsp;&nbsp; $275051 | $1750600 | $2025651 | &nbsp;&nbsp;&nbsp;&nbsp; $595295 | $1147972 | $1743267 |

---

**American Funds Global Balanced Fund** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| **Share class** | **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid** <br>| **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid**<br>|
| Class 1 | &nbsp;&nbsp; $254 | $3585 | $3839 | &nbsp;&nbsp;&nbsp;&nbsp; $1963 | $— | $1963 |
| Class 1A | &nbsp;&nbsp; 9 | 152 | 161 | &nbsp;&nbsp;&nbsp;&nbsp; 64 |  | 64 |
| Class 2 | &nbsp;&nbsp; 335 | 5617 | 5952 | &nbsp;&nbsp;&nbsp;&nbsp; 2714 |  | 2714 |
| Class 4 | &nbsp;&nbsp; 324 | 6279 | 6603 | &nbsp;&nbsp;&nbsp;&nbsp; 2307 |  | 2307 |
| Total | &nbsp;&nbsp; $922 | $15633 | $16555 | &nbsp;&nbsp;&nbsp;&nbsp; $7048 | $— | $7048 |

---

**The Bond Fund of America** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| **Share class** | **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid**<br>| **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid**<br>|
| Class 1 | &nbsp;&nbsp; $60306 | $— | $60306 | &nbsp;&nbsp;&nbsp;&nbsp; $305561 | $— | $305561 |
| Class 1A | &nbsp;&nbsp; 2233 |  | 2233 | &nbsp;&nbsp;&nbsp;&nbsp; 8909 |  | 8909 |
| Class 2 | &nbsp;&nbsp; 23485 |  | 23485 | &nbsp;&nbsp;&nbsp;&nbsp; 115243 |  | 115243 |
| Class 4 | &nbsp;&nbsp; 10634 |  | 10634 | &nbsp;&nbsp;&nbsp;&nbsp; 45913 |  | 45913 |
| Total | &nbsp;&nbsp; $96658 | $— | $96658 | &nbsp;&nbsp;&nbsp;&nbsp; $475626 | $— | $475626 |

---

**Capital World Bond Fund** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| **Share class** | **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid**<br>| **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid**<br>|
| Class 1 | &nbsp;&nbsp; $1662 | $— | $1662 | &nbsp;&nbsp;&nbsp;&nbsp; $15387 | $— | $15387 |
| Class 1A | &nbsp;&nbsp; 53 |  | 53 | &nbsp;&nbsp;&nbsp;&nbsp; 983 |  | 983 |
| Class 2 | &nbsp;&nbsp; 1727 |  | 1727 | &nbsp;&nbsp;&nbsp;&nbsp; 16410 |  | 16410 |
| Class 4 | &nbsp;&nbsp; 146 |  | 146 | &nbsp;&nbsp;&nbsp;&nbsp; 1135 |  | 1135 |
| Total | &nbsp;&nbsp; $3588 | $— | $3588 | &nbsp;&nbsp;&nbsp;&nbsp; $33915 | $— | $33915 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **333** | American Funds Insurance Series |

---

------

**American High-Income Trust** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| **Share class** | **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid**<br>| **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid**<br>|
| Class 1 | &nbsp;&nbsp; $2793 | $— | $2793 | &nbsp;&nbsp;&nbsp;&nbsp; $15191 | $— | $15191 |
| Class 1A | &nbsp;&nbsp; 37 |  | 37 | &nbsp;&nbsp;&nbsp;&nbsp; 199 |  | 199 |
| Class 2 | &nbsp;&nbsp; 5937 |  | 5937 | &nbsp;&nbsp;&nbsp;&nbsp; 35147 |  | 35147 |
| Class 3 | &nbsp;&nbsp; 87 |  | 87 | &nbsp;&nbsp;&nbsp;&nbsp; 529 |  | 529 |
| Class 4 | &nbsp;&nbsp; 1919 |  | 1919 | &nbsp;&nbsp;&nbsp;&nbsp; 8336 |  | 8336 |
| Total | &nbsp;&nbsp; $10773 | $— | $10773 | &nbsp;&nbsp;&nbsp;&nbsp; $59402 | $— | $59402 |

---

**American Funds Mortgage Fund** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| **Share class** | **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid**<br>| **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid**<br>|
| Class 1 | &nbsp;&nbsp; $143 | $— | $143 | &nbsp;&nbsp;&nbsp;&nbsp; $804 | $— | $804 |
| Class 1A | &nbsp;&nbsp; 23 |  | 23 | &nbsp;&nbsp;&nbsp;&nbsp; 121 |  | 121 |
| Class 2 | &nbsp;&nbsp; 316 |  | 316 | &nbsp;&nbsp;&nbsp;&nbsp; 1928 |  | 1928 |
| Class 4 | &nbsp;&nbsp; 414 |  | 414 | &nbsp;&nbsp;&nbsp;&nbsp; 2148 |  | 2148 |
| Total | &nbsp;&nbsp; $896 | $— | $896 | &nbsp;&nbsp;&nbsp;&nbsp; $5001 | $— | $5001 |

---

**Ultra-Short Bond Fund** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| **Share class** | **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid**<br>| **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid**<br>|
| Class 1 | &nbsp;&nbsp; $267 | $— | $267 | &nbsp;&nbsp;&nbsp;&nbsp; $1996 | $— | $1996 |
| Class 1A | &nbsp;&nbsp; 1 |  | 1 | &nbsp;&nbsp;&nbsp;&nbsp; 6 |  | 6 |
| Class 2 | &nbsp;&nbsp; 1787 |  | 1787 | &nbsp;&nbsp;&nbsp;&nbsp; 12857 |  | 12857 |
| Class 3 | &nbsp;&nbsp; 29 |  | 29 | &nbsp;&nbsp;&nbsp;&nbsp; 205 |  | 205 |
| Class 4 | &nbsp;&nbsp; 473 |  | 473 | &nbsp;&nbsp;&nbsp;&nbsp; 2569 |  | 2569 |
| Total | &nbsp;&nbsp; $2557 | $— | $2557 | &nbsp;&nbsp;&nbsp;&nbsp; $17633 | $— | $17633 |

---

**U.S. Government Securities Fund** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| **Share class** | **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid**<br>| **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid**<br>|
| Class 1 | &nbsp;&nbsp; $2151 | $— | $2151 | &nbsp;&nbsp;&nbsp;&nbsp; $11248 | $— | $11248 |
| Class 1A | &nbsp;&nbsp; 2157 |  | 2157 | &nbsp;&nbsp;&nbsp;&nbsp; 11344 |  | 11344 |
| Class 2 | &nbsp;&nbsp; 8060 |  | 8060 | &nbsp;&nbsp;&nbsp;&nbsp; 42551 |  | 42551 |
| Class 3 | &nbsp;&nbsp; 41 |  | 41 | &nbsp;&nbsp;&nbsp;&nbsp; 204 |  | 204 |
| Class 4 | &nbsp;&nbsp; 1788 |  | 1788 | &nbsp;&nbsp;&nbsp;&nbsp; 7920 |  | 7920 |
| Total | &nbsp;&nbsp; $14197 | $— | $14197 | &nbsp;&nbsp;&nbsp;&nbsp; $73267 | $— | $73267 |

---

**Managed Risk Growth Fund** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| **Share class** | **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid** <br>| **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid**<br>|
| Class P1 | &nbsp;&nbsp; $111 | $558 | $669 | &nbsp;&nbsp;&nbsp;&nbsp; $93 | $— | $93 |
| Class P2 | &nbsp;&nbsp; 2919 | 21164 | 24083 | &nbsp;&nbsp;&nbsp;&nbsp; 2326 |  | 2326 |
| Total | &nbsp;&nbsp; $3030 | $21722 | $24752 | &nbsp;&nbsp;&nbsp;&nbsp; $2419 | $— | $2419 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **334** |

---

------

**Managed Risk International Fund** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| **Share class** | **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid**<br>| **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid**<br>|
| Class P1 | &nbsp;&nbsp; $30 | $— | $30 | &nbsp;&nbsp;&nbsp;&nbsp; $29 | $— | $29 |
| Class P2 | &nbsp;&nbsp; 1450 |  | 1450 | &nbsp;&nbsp;&nbsp;&nbsp; 1532 |  | 1532 |
| Total | &nbsp;&nbsp; $1480 | $— | $1480 | &nbsp;&nbsp;&nbsp;&nbsp; $1561 | $— | $1561 |

---

**Managed Risk Washington Mutual Investors Fund** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| **Share class** | **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid**<br>| **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid**<br>|
| Class P1 | &nbsp;&nbsp; $40 | $— | $40 | &nbsp;&nbsp;&nbsp;&nbsp; $53 | $— | $53 |
| Class P2 | &nbsp;&nbsp; 4640 |  | 4640 | &nbsp;&nbsp;&nbsp;&nbsp; 5422 |  | 5422 |
| Total | &nbsp;&nbsp; $4680 | $— | $4680 | &nbsp;&nbsp;&nbsp;&nbsp; $5475 | $— | $5475 |

---

**Managed Risk Growth-Income Fund** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| **Share class** | **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid** <br>| **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid**<br>|
| Class P1 | &nbsp;&nbsp; $25511 | $70237 | $95748 | &nbsp;&nbsp;&nbsp;&nbsp; $33022 | $25142 | $58164 |
| Class P2 | &nbsp;&nbsp; 3596 | 10214 | 13810 | &nbsp;&nbsp;&nbsp;&nbsp; 4085 | 3659 | 7744 |
| Total | &nbsp;&nbsp; $29107 | $80451 | $109558 | &nbsp;&nbsp;&nbsp;&nbsp; $37107 | $28801 | $65908 |

---

**Managed Risk Asset Allocation Fund** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| **Share class** | **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid** <br>| **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid**<br>|
| Class P1 | &nbsp;&nbsp; $208 | $722 | $930 | &nbsp;&nbsp;&nbsp;&nbsp; $226 | $138 | $364 |
| Class P2 | &nbsp;&nbsp; 34023 | 121132 | 155155 | &nbsp;&nbsp;&nbsp;&nbsp; 39976 | 28786 | 68762 |
| Total | &nbsp;&nbsp; $34231 | $121854 | $156085 | &nbsp;&nbsp;&nbsp;&nbsp; $40202 | $28924 | $69126 |

---

<sup>3</sup>

Commencement of operations.

<sup>4</sup>

Amount less than one thousand.

**7. Fees and transactions**

------

CRMC, the series' investment adviser, is the parent company of Capital Client Group, Inc. ("CCG"), the distributor of the series' shares, and American Funds Service Company® ("AFS"), the series' transfer agent. CRMC, CCG and AFS are considered related parties to the series.

**Investment advisory services** — The series has an investment advisory and service agreement with CRMC that provides for monthly fees accrued daily. These fees are based on annual rates that generally decrease as net asset levels increase. CRMC receives investment advisory fees from the underlying funds held by the managed risk funds, which are included in the unaudited net effective expense ratios that are provided as additional information in the financial highlights tables. Subadvisory fees for the managed risk funds are paid by CRMC to Milliman FRM. The managed risk funds are not responsible for paying any subadvisory fees.

**Investment advisory services waivers** — CRMC is waiving a portion of its investment advisory services fees for some of the funds. For the six months ended June 30, 2025, total investment advisory services fees waived by CRMC were $26,151,000. CRMC does not intend to recoup these waivers. Investment advisory fees in each fund's statement of operations are presented gross of any waivers from CRMC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **335** | American Funds Insurance Series |

---

------

The range of rates, net asset levels and the current annualized rates of average daily net assets for each fund before and after any investment advisory services waivers, if applicable, are as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Fund** | **Rates** | **Rates** | **Net asset level** <br>**(in billions)** | **Net asset level** <br>**(in billions)** | **For the** <br>**six months** <br> **ended** <br>**June 30,** <br>**2025,** <br>**before waiver** | **For the** <br>**six months** <br> **ended** <br>**June 30,** <br>**2025,** <br>**after waiver** |
| **Fund** | **Beginning** <br>**with**<br>| **Ending** <br>**with**<br>| **Up to** | **In excess** <br>**of**<br>| **For the** <br>**six months** <br> **ended** <br>**June 30,** <br>**2025,** <br>**before waiver** | **For the** <br>**six months** <br> **ended** <br>**June 30,** <br>**2025,** <br>**after waiver** |
| Global Growth Fund | .475<br> %<br>| .435<br> %<br>| $15.0 | $15.0 | .475<br> %<br>| .368<br> %<br>|
| Global Small Capitalization Fund | .647 | .615 | 15.0 | 15.0 | .647 | .604 |
| Growth Fund | .500 | .275 | .6 | 44.0 | .304 | .304 |
| International Fund | .478 | .430 | 15.0 | 21.0 | .478 | .478 |
| New World Fund | .577 | .510 | 15.0 | 15.0 | .577 | .507 |
| Washington Mutual Investors Fund | .374 | .350 | 15.0 | 15.0 | .374 | .231 |
| U.S. Small and Mid Cap Equity Fund | .450 |  | all |  | .450 | .450 |
| Capital World Growth and Income Fund | .475 | .435 | 15.0 | 15.0 | .475 | .375 |
| Growth-Income Fund | .500 | .217 | .6 | 44.0 | .250 | .250 |
| International Growth and Income Fund | .478 | .450 | 15.0 | 15.0 | .478 | .478 |
| Capital Income Builder | .357 | .330 | 15.0 | 15.0 | .357 | .227 |
| Asset Allocation Fund | .500 | .236 | .6 | 34.0 | .265 | .265 |
| American Funds Global Balanced Fund | .446 | .420 | 15.0 | 15.0 | .446 | .433 |
| The Bond Fund of America | .352 | .320 | 15.0 | 15.0 | .352 | .202 |
| Capital World Bond Fund | .431 | .360 | 15.0 | 15.0 | .431 | .431 |
| American High-Income Trust | .404 | .386 | 15.0 | 15.0 | .404 | .284 |
| American Funds Mortgage Fund  | .295 | .280 | 15.0 | 15.0 | .295 | .218 |
| Ultra-Short Bond Fund | .257 | .242 | 15.0 | 15.0 | .257 | .257 |
| U.S. Government Securities Fund | .295 | .280 | 15.0 | 15.0 | .295 | .222 |
| Managed Risk Growth Fund\* | .100 |  | all |  | .150 | .100 |
| Managed Risk International Fund\* | .100 |  | all |  | .150 | .100 |
| Managed Risk Washington Mutual Investors Fund\* | .100 |  | all |  | .150 | .100 |
| Managed Risk Growth-Income Fund\* | .100 |  | all |  | .150 | .100 |
| Managed Risk Asset Allocation Fund\* | .100 |  | all |  | .150 | .100 |

---

\*

For a portion of the period CRMC waived a portion of the investment advisory and services fee, such that the fee was reduced from 0.150% to 0.100%. Effective May 1, 2025, the series' board of trustees approved a revised investment advisory and services agreement for the Managed Risk Funds, removing the 0.050% fee waiver and concurrently reducing the fee for each share class from 0.150% to 0.100%.

**Class-specific fees and expenses** — Expenses that are specific to individual share classes are accrued directly to the respective share class. The principal class-specific fees and expenses are further described below:

**Distribution services** — The series has plans of distribution for all share classes except Class 1. Under the plans, the board of trustees approves certain categories of expenses that are used to finance activities primarily intended to sell fund shares. The plans provide for payments to pay service fees to firms that have entered into agreements with the series. These payments, based on an annualized percentage of average daily net assets, range from 0.18% to 0.50% as noted in the table below. In some cases, the board of trustees has limited the amounts that may be paid to less than the maximum allowed by the plans.

---

| | | |
|:---|:---|:---|
| **Share class** | **Currently approved limits** | **Plan limits** |
| Class 1A | 0.00<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.25<br> %<br>|
| Class 2 | 0.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.25 |
| Class 3 | 0.18 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.18 |
| Class 4 | 0.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.25 |
| Class P1 | 0.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.25 |
| Class P2 | 0.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.50 |

---

**Insurance administrative services** — The series has an insurance administrative services plan for Class 1A, 4, P1 and P2 shares. Under the plan, these share classes pay 0.25% of each insurance company's respective average daily net assets in each share class to compensate the insurance companies for services provided to their separate accounts and contractholders for which the shares of the fund are beneficially owned as underlying investments of such contractholders' annuities. These services include, but are not limited to, maintenance, shareholder communications and transactional services. The insurance companies are not related parties to the series.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **336** |

---

------

**Transfer agent services** — The series has a shareholder services agreement with AFS under which the funds compensate AFS for providing transfer agent services to all of the funds' share classes. These services include recordkeeping, shareholder communications and transaction processing. Under this agreement, the managed risk funds also pays sub-transfer agency fees to AFS. These fees are paid by AFS to third parties for performing transfer agent services on behalf of fund shareholders.

**Administrative services** — The series has an administrative services agreement with CRMC under which each fund compensates CRMC for providing administrative services to all of the funds' share classes except Class P1 and P2 shares. Administrative services are provided by CRMC and its affiliates to help assist third parties providing non-distribution services to fund shareholders. These services include providing in-depth information on each fund and market developments that impact fund investments. Administrative services also include, but are not limited to, coordinating, monitoring and overseeing third parties that provide services to fund shareholders. The agreement provides each fund, other than the managed risk funds, the ability to charge an administrative services fee at the annual rate of 0.05% of average daily net assets attributable to each share class. Currently each fund, other than the managed-risk funds, pays CRMC an administrative services fee at the annual rate of 0.03% of average daily net assets of each share class for CRMC's provision of administrative services. For the managed risk funds, CRMC receives administrative services fees at an annual rate of 0.03% of average daily net assets from Class 1 shares of the underlying funds for administrative services provided to the series.

**Accounting and administrative services** — The managed risk funds have a subadministration agreement with Bank of New York Mellon ("BNY Mellon") under which the fund compensates BNY Mellon for providing accounting and administrative services to each of the managed risk funds' share classes. These services include, but are not limited to, fund accounting (including calculation of net asset value), financial reporting and tax services. BNY Mellon is not a related party to the managed risk funds.

Class-specific expenses under the agreements described above were as follows (dollars in thousands):

**Global Growth Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Share class** | **Distribution** <br>**services**<br>| **Insurance** <br>**administrative** <br>**services**<br>| **Administrative** <br>**services**<br>|
| Class 1 | Not applicable | Not applicable | $534 |
| Class 1A | $— | $26 | 3 |
| Class 2 | 4295 | Not applicable | 515 |
| Class 4 | 1206 | 1207 | 145 |
| Total class-specific <br> expenses<br>| $5501 | $1233 | $1197 |

---

**Global Small Capitalization Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Share class** | **Distribution** <br>**services**<br>| **Insurance** <br>**administrative** <br>**services**<br>| **Administrative** <br>**services**<br>|
| Class 1 | Not applicable | Not applicable | $133 |
| Class 1A | $— | $7 | 1 |
| Class 2 | 2083 | Not applicable | 250 |
| Class 4 | 385 | 385 | 46 |
| Total class-specific <br> expenses<br>| $2468 | $392 | $430 |

---

**Growth Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Share class** | **Distribution** <br>**services**<br>| **Insurance** <br>**administrative** <br>**services**<br>| **Administrative** <br>**services**<br>|
| Class 1 | Not applicable | Not applicable | $3171 |
| Class 1A | $— | $489 | 59 |
| Class 2 | 24517 | Not applicable | 2942 |
| Class 3 | 239 | Not applicable | 40 |
| Class 4 | 6668 | 6668 | 800 |
| Total class-specific <br> expenses<br>| $31424 | $7157 | $7012 |

---

**International Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Share class** | **Distribution** <br>**services**<br>| **Insurance** <br>**administrative** <br>**services**<br>| **Administrative** <br>**services**<br>|
| Class 1 | Not applicable | Not applicable | $463 |
| Class 1A | $— | $16 | 2 |
| Class 2 | 4053 | Not applicable | 486 |
| Class 3 | 13 | Not applicable | 2 |
| Class 4 | 575 | 576 | 69 |
| Total class-specific <br> expenses<br>| $4641 | $592 | $1022 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **337** | American Funds Insurance Series |

---

------

**New World Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Share class** | **Distribution** <br>**services**<br>| **Insurance** <br>**administrative** <br>**services**<br>| **Administrative** <br>**services**<br>|
| Class 1 | Not applicable | Not applicable | $271 |
| Class 1A | $— | $15 | 2 |
| Class 2 | 992 | Not applicable | 119 |
| Class 4 | 1031 | 1031 | 124 |
| Total class-specific <br> expenses<br>| $2023 | $1046 | $516 |

---

**Washington Mutual Investors Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Share class** | **Distribution** <br>**services**<br>| **Insurance** <br>**administrative** <br>**services**<br>| **Administrative** <br>**services**<br>|
| Class 1 | Not applicable | Not applicable | $924 |
| Class 1A | $— | $38 | 5 |
| Class 2 | 3686 | Not applicable | 442 |
| Class 4 | 2299 | 2299 | 276 |
| Total class-specific <br> expenses<br>| $5985 | $2337 | $1647 |

---

**U.S. Small and Mid Cap Equity Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Share class** | **Distribution** <br>**services**<br>| **Insurance** <br>**administrative** <br>**services**<br>| **Administrative** <br>**services**<br>|
| Class 1 | Not applicable | Not applicable | $—<br> \*<br>|
| Class 1A | $— | $—<br> \*<br>| —<br> \*<br>|
| Class 2 |  | Not applicable | —<br> \*<br>|
| Class 4 | —<br> \*<br>| —<br> \*<br>| 2 |
| Total class-specific <br> expenses<br>| $—<br> \*<br>| $—<br> \*<br>| $2 |

---

**Capital World Growth and Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Share class** | **Distribution** <br>**services**<br>| **Insurance** <br>**administrative** <br>**services**<br>| **Administrative** <br>**services**<br>|
| Class 1 | Not applicable | Not applicable | $88 |
| Class 1A | $— | $12 | 2 |
| Class 2 | 1251 | Not applicable | 150 |
| Class 4 | 349 | 349 | 42 |
| Total class-specific <br> expenses<br>| $1600 | $361 | $282 |

---

**Growth-Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Share class** | **Distribution** <br>**services**<br>| **Insurance** <br>**administrative** <br>**services**<br>| **Administrative** <br>**services**<br>|
| Class 1 | Not applicable | Not applicable | $3562 |
| Class 1A | $— | $54 | 7 |
| Class 2 | 16700 | Not applicable | 2004 |
| Class 3 | 133 | Not applicable | 22 |
| Class 4 | 3381 | 3381 | 406 |
| Total class-specific <br> expenses<br>| $20214 | $3435 | $6001 |

---

**International Growth and Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Share class** | **Distribution** <br>**services**<br>| **Insurance** <br>**administrative** <br>**services**<br>| **Administrative** <br>**services**<br>|
| Class 1 | Not applicable | Not applicable | $4 |
| Class 1A | $— | $9 | 1 |
| Class 2 | 194 | Not applicable | 23 |
| Class 4 | 209 | 209 | 25 |
| Total class-specific <br> expenses<br>| $403 | $218 | $53 |

---

**Capital Income Builder** 

---

| | | | |
|:---|:---|:---|:---|
| **Share class** | **Distribution** <br>**services**<br>| **Insurance** <br>**administrative** <br>**services**<br>| **Administrative** <br>**services**<br>|
| Class 1 | Not applicable | Not applicable | $110 |
| Class 1A | $— | $16 | 2 |
| Class 2 | 23 | Not applicable | 3 |
| Class 4 | 831 | 831 | 99 |
| Total class-specific <br> expenses<br>| $854 | $847 | $214 |

---

**Asset Allocation Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Share class** | **Distribution** <br>**services**<br>| **Insurance** <br>**administrative** <br>**services**<br>| **Administrative** <br>**services**<br>|
| Class 1 | Not applicable | Not applicable | $2341 |
| Class 1A | $— | $52 | 6 |
| Class 2 | 5281 | Not applicable | 634 |
| Class 3 | 28 | Not applicable | 5 |
| Class 4 | 8215 | 8214 | 986 |
| Total class-specific <br> expenses<br>| $13524 | $8266 | $3972 |

---

Refer to the end of the table(s) for footnote(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **338** |

---

------

**American Funds Global Balanced Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Share class** | **Distribution** <br>**services**<br>| **Insurance** <br>**administrative** <br>**services**<br>| **Administrative** <br>**services**<br>|
| Class 1 | Not applicable | Not applicable | $14 |
| Class 1A | $— | $5 | 1 |
| Class 2 | 183 | Not applicable | 22 |
| Class 4 | 191 | 191 | 23 |
| Total class-specific <br> expenses<br>| $374 | $196 | $60 |

---

**The Bond Fund of America** 

---

| | | | |
|:---|:---|:---|:---|
| **Share class** | **Distribution** <br>**services**<br>| **Insurance** <br>**administrative** <br>**services**<br>| **Administrative** <br>**services**<br>|
| Class 1 | Not applicable | Not applicable | $1017 |
| Class 1A | $— | $290 | 35 |
| Class 2 | 3381 | Not applicable | 406 |
| Class 4 | 1525 | 1525 | 183 |
| Total class-specific <br> expenses<br>| $4906 | $1815 | $1641 |

---

**Capital World Bond Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Share class** | **Distribution** <br>**services**<br>| **Insurance** <br>**administrative** <br>**services**<br>| **Administrative** <br>**services**<br>|
| Class 1 | Not applicable | Not applicable | $89 |
| Class 1A | $— | $46 | 6 |
| Class 2 | 937 | Not applicable | 112 |
| Class 4 | 81 | 80 | 10 |
| Total class-specific <br> expenses<br>| $1018 | $126 | $217 |

---

**American High-Income Trust** 

---

| | | | |
|:---|:---|:---|:---|
| **Share class** | **Distribution** <br>**services**<br>| **Insurance** <br>**administrative** <br>**services**<br>| **Administrative** <br>**services**<br>|
| Class 1 | Not applicable | Not applicable | $35 |
| Class 1A | $— | $4 | 1 |
| Class 2 | 660 | Not applicable | 79 |
| Class 3 | 7 | Not applicable | 1 |
| Class 4 | 221 | 221 | 27 |
| Total class-specific <br> expenses<br>| $888 | $225 | $143 |

---

**American Funds Mortgage Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Share class** | **Distribution** <br>**services**<br>| **Insurance** <br>**administrative** <br>**services**<br>| **Administrative** <br>**services**<br>|
| Class 1 | Not applicable | Not applicable | $3 |
| Class 1A | $— | $3 | —<br> \*<br>|
| Class 2 | 51 | Not applicable | 6 |
| Class 4 | 66 | 66 | 8 |
| Total class-specific <br> expenses<br>| $117 | $69 | $17 |

---

**Ultra-Short Bond Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Share class** | **Distribution** <br>**services**<br>| **Insurance** <br>**administrative** <br>**services**<br>| **Administrative** <br>**services**<br>|
| Class 1 | Not applicable | Not applicable | $5 |
| Class 1A | $— | $—<br> \*<br>| —<br> \*<br>|
| Class 2 | 291 | Not applicable | 35 |
| Class 3 | 3 | Not applicable | 1 |
| Class 4 | 88 | 88 | 10 |
| Total class-specific <br> expenses<br>| $382 | $88 | $51 |

---

**U.S. Government Securities Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Share class** | **Distribution** <br>**services**<br>| **Insurance** <br>**administrative** <br>**services**<br>| **Administrative** <br>**services**<br>|
| Class 1 | Not applicable | Not applicable | $39 |
| Class 1A | $— | $358 | 43 |
| Class 2 | 1287 | Not applicable | 154 |
| Class 3 | 4 | Not applicable | 1 |
| Class 4 | 280 | 280 | 34 |
| Total class-specific <br> expenses<br>| $1571 | $638 | $271 |

---

**Managed Risk Growth Fund** 

---

| | | |
|:---|:---|:---|
| **Share class** | **Distribution** <br>**services**<br>| **Insurance** <br>**administrative** <br>**services**<br>|
| Class P1 | Not applicable | $16 |
| Class P2 | $608 | 609 |
| Total class-specific <br> expenses<br>| $608 | $625 |

---

Refer to the end of the table(s) for footnote(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **339** | American Funds Insurance Series |

---

------

**Managed Risk International Fund** 

---

| | | |
|:---|:---|:---|
| **Share class** | **Distribution** <br>**services**<br>| **Insurance** <br>**administrative** <br>**services**<br>|
| Class P1 | Not applicable | $2 |
| Class P2 | $138 | 139 |
| Total class-specific <br> expenses<br>| $138 | $141 |

---

**Managed Risk Washington Mutual Investors Fund**

---

| | | |
|:---|:---|:---|
| **Share class** | **Distribution** <br>**services**<br>| **Insurance** <br>**administrative** <br>**services**<br>|
| Class P1 | Not applicable | $3 |
| Class P2 | $388 | 388 |
| Total class-specific <br> expenses<br>| $388 | $391 |

---

**Managed Risk Growth-Income Fund**

---

| | | |
|:---|:---|:---|
| **Share class** | **Distribution** <br>**services**<br>| **Insurance** <br>**administrative** <br>**services**<br>|
| Class P1 | Not applicable | $2275 |
| Class P2 | $327 | 327 |
| Total class-specific <br> expenses<br>| $327 | $2602 |

---

**Managed Risk Asset Allocation Fund**

---

| | | |
|:---|:---|:---|
| **Share class** | **Distribution** <br>**services**<br>| **Insurance** <br>**administrative** <br>**services**<br>|
| Class P1 | Not applicable | $15 |
| Class P2 | $2402 | 2401 |
| Total class-specific <br> expenses<br>| $2402 | $2416 |

---

\*

Amount less than one thousand.

**Miscellaneous fee reimbursements** — CRMC reimbursed a portion of miscellaneous fees and expenses for U.S. Small and Mid Cap Equity Fund and Managed Risk International Fund. This reimbursement may be adjusted or discontinued by CRMC, subject to any restrictions in the series' prospectus. For the six months ended June 30, 2025, total fees and expenses reimbursed by CRMC were $21,000. CRMC may recoup all or a portion of these reimbursements during the current fiscal year. Fees and expenses in each fund's statement of operations are presented gross of any reimbursements from CRMC.

**Trustees' deferred compensation** — Trustees who are unaffiliated with CRMC may elect to defer the cash payment of part or all of their compensation. These deferred amounts, which remain as liabilities of the funds, are treated as if invested in one or more of the American Funds. These amounts represent general, unsecured liabilities of the funds and vary according to the total returns of the selected funds. Trustees' compensation, shown on the accompanying financial statements, reflects current fees (either paid in cash or deferred) and a net increase in the value of the deferred amounts as follows (dollars in thousands):

---

| | | | |
|:---|:---|:---|:---|
| **Fund** | **Current fees** | **Increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total trustees'** <br>**compensation**<br>|
| Global Growth Fund | &nbsp;&nbsp; $10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $14 |
| Global Small Capitalization Fund | &nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 |
| Growth Fund | &nbsp;&nbsp; 60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 81 |
| International Fund | &nbsp;&nbsp; 9 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12 |
| New World Fund | &nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 |
| Washington Mutual Investors Fund | &nbsp;&nbsp; 14 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19 |
| U.S. Small and Mid Cap Equity Fund | &nbsp;&nbsp; —<br> \*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br> \*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br> \*<br>|
| Capital World Growth and Income Fund | &nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 |
| Growth-Income Fund | &nbsp;&nbsp; 52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 69 |
| International Growth and Income Fund | &nbsp;&nbsp; —<br> \*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br> \*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br> \*<br>|
| Capital Income Builder | &nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 |
| Asset Allocation Fund | &nbsp;&nbsp; 34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45 |
| American Funds Global Balanced Fund | &nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br> \*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| The Bond Fund of America | &nbsp;&nbsp; 14 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18 |
| Capital World Bond Fund | &nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 |
| American High-Income Trust | &nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br> \*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| American Funds Mortgage Fund | &nbsp;&nbsp; —<br> \*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br> \*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br> \*<br>|
| Ultra-Short Bond Fund | &nbsp;&nbsp; —<br> \*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br> \*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br> \*<br>|
| U.S. Government Securities Fund | &nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 |
| Managed Risk Growth Fund | &nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br> \*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| Managed Risk International Fund | &nbsp;&nbsp; —<br> \*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br> \*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br> \*<br>|
| Managed Risk Washington Mutual Investors Fund | &nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br> \*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| Managed Risk Growth-Income Fund | &nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 |
| Managed Risk Asset Allocation Fund | &nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 |

---

\*

Amount less than one thousand.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **340** |

---

------

**Affiliated officers and trustees** — Officers and certain trustees of the series are or may be considered to be affiliated with CRMC, CCG and AFS. No affiliated officers or trustees received any compensation directly from any fund in the series.

**Investments in CCBF and CCF** — Some of the funds hold shares of CCBF, a corporate bond fund, and/or CCF, an institutional prime money market fund ,which are both managed by CRMC. CCBF seeks to provide maximum total return consistent with capital preservation and prudent risk management by investing primarily in corporate debt instruments. CCBF is used as an investment vehicle for some of the funds' corporate bond investments. CCF invests in high-quality, short-term money market instruments. CCF is used as the primary investment vehicle for some of the funds' short-term investments. Both CCBF and CCF shares are only available for purchase by CRMC, its affiliates, and other funds managed by CRMC or its affiliates, and are not available to the public. CRMC does not receive an investment advisory services fee from either CCBF or CCF.

**Security transactions with related funds** — The funds may purchase from, or sell securities to, other CRMC-managed funds (or funds managed by certain affiliates of CRMC) under procedures adopted by the fund's board of trustees. The funds involved in such transactions are considered related by virtue of having a common investment adviser (or affiliated investment advisers), common trustees and/or common officers. When such transactions occur, each transaction is executed at the current market price of the security and no brokerage commissions or fees are paid in accordance with Rule 17a-7 of the 1940 Act.

The following table presents purchase and sale transactions between each fund and related funds, and net realized gain or loss from such sales, if any, as of June 30, 2025 (dollars in thousands):

---

| | | | |
|:---|:---|:---|:---|
| **Fund**  | **Purchases**  | **Sales**  | **Net** <br>**realized** <br>**gain (loss)**<br>|
| Global Growth Fund | &nbsp;&nbsp; $88976 | &nbsp;&nbsp; $14964 | &nbsp;&nbsp; $2923 |
| Global Small Capitalization Fund | &nbsp;&nbsp; 17787 | &nbsp;&nbsp; 7499 | &nbsp;&nbsp; 1872 |
| Growth Fund | &nbsp;&nbsp; 262208 | &nbsp;&nbsp; 192926 | &nbsp;&nbsp; 65081 |
| International Fund | &nbsp;&nbsp; 95968 | &nbsp;&nbsp; 38929 | &nbsp;&nbsp; 6168 |
| New World Fund | &nbsp;&nbsp; 9610 | &nbsp;&nbsp; 29959 | &nbsp;&nbsp; 5791 |
| Washington Mutual Investors Fund | &nbsp;&nbsp; 73880 | &nbsp;&nbsp; 101813 | &nbsp;&nbsp; 14322 |
| Capital World Growth and Income Fund | &nbsp;&nbsp; 21390 | &nbsp;&nbsp; 27562 | &nbsp;&nbsp; 6719 |
| Growth-Income Fund | &nbsp;&nbsp; 332042 | &nbsp;&nbsp; 383247 | &nbsp;&nbsp; 101737 |
| International Growth and Income Fund | &nbsp;&nbsp; 1199 | &nbsp;&nbsp; 2747 | &nbsp;&nbsp; 138 |
| Capital Income Builder | &nbsp;&nbsp; 14710 | &nbsp;&nbsp; 14805 | &nbsp;&nbsp; 4080 |
| Asset Allocation Fund | &nbsp;&nbsp; 199278 | &nbsp;&nbsp; 71009 | &nbsp;&nbsp; 43548 |
| American Funds Global Balanced Fund | &nbsp;&nbsp; 2269 | &nbsp;&nbsp; 3535 | &nbsp;&nbsp; 909 |

---

**8. Indemnifications**

------

The series' organizational documents provide board members and officers with indemnification against certain liabilities or expenses in connection with the performance of their duties to the series. In the normal course of business, the series may also enter into contracts that provide general indemnifications. Each fund's maximum exposure under these arrangements is unknown since it is dependent on future claims that may be made against the series. The risk of material loss from such claims is considered remote. Insurance policies are also available to the series' board members and officers.

**9. Committed line of credit**

------

Global Small Capitalization Fund, New World Fund and American High-Income Trust participate with other funds managed by CRMC in a $1.5 billion credit facility (the "line of credit") to be utilized for temporary purposes to fund shareholder redemptions. Each fund has agreed to pay commitment fees on its pro-rata portion of the line of credit, which are reflected in other expenses in each fund's statement of operations. None of the funds borrowed on this line of credit at any time during the six months ended June 30, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **341** | American Funds Insurance Series |

---

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**10. Capital share transactions**

------

Capital share transactions in each fund were as follows (dollars and shares in thousands):

**Global Growth Fund** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Sales**<sup>1</sup> | **Sales**<sup>1</sup> | **Reinvestments of** <br>**distributions** | **Reinvestments of** <br>**distributions** | **Repurchases**<sup>1</sup> | **Repurchases**<sup>1</sup> | **Net increase** <br>**(decrease)** | **Net increase** <br>**(decrease)** |
| <br>**Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** |
| Class 1 | $132465 | 3800 | &nbsp;&nbsp; $473203 | 13844 | &nbsp;&nbsp; $(297705)<br>| (8075)<br>| &nbsp;&nbsp; $307963 | 9569 |
| Class 1A | 1877 | 52 | &nbsp;&nbsp; 2862 | 84 | &nbsp;&nbsp; (1125)<br>| (31)<br>| &nbsp;&nbsp; 3614 | 105 |
| Class 2 | 18094 | 501 | &nbsp;&nbsp; 458474 | 13654 | &nbsp;&nbsp; (244822)<br>| (6757)<br>| &nbsp;&nbsp; 231746 | 7398 |
| Class 4 | 88558 | 2477 | &nbsp;&nbsp; 134552 | 4068 | &nbsp;&nbsp; (49285)<br>| (1386)<br>| &nbsp;&nbsp; 173825 | 5159 |
| Total net increase (decrease) | $240994 | 6830 | &nbsp;&nbsp; $1069091 | 31650 | &nbsp;&nbsp; $(592937)<br>| (16249)<br>| &nbsp;&nbsp; $717148 | 22231 |
| **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| Class 1 | $182743 | 4922 | &nbsp;&nbsp; $164299 | 4426 | &nbsp;&nbsp; $(478156)<br>| (12907)<br>| &nbsp;&nbsp; $(131114)<br>| (3559)<br>|
| Class 1A | 3593 | 97 | &nbsp;&nbsp; 855 | 23 | &nbsp;&nbsp; (3164)<br>| (85)<br>| &nbsp;&nbsp; 1284 | 35 |
| Class 2 | 64877 | 1789 | &nbsp;&nbsp; 160470 | 4397 | &nbsp;&nbsp; (544385)<br>| (14948)<br>| &nbsp;&nbsp; (319038)<br>| (8762)<br>|
| Class 4 | 187863 | 5186 | &nbsp;&nbsp; 36623 | 1016 | &nbsp;&nbsp; (80774)<br>| (2235)<br>| &nbsp;&nbsp; 143712 | 3967 |
| Total net increase (decrease) | $439076 | 11994 | &nbsp;&nbsp; $362247 | 9862 | &nbsp;&nbsp; $(1106479)<br>| (30175)<br>| &nbsp;&nbsp; $(305156)<br>| (8319)<br>|

---

**Global Small Capitalization Fund** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Sales**<sup>1</sup> | **Sales**<sup>1</sup> | **Reinvestments of** <br>**distributions** | **Reinvestments of** <br>**distributions** | **Repurchases**<sup>1</sup> | **Repurchases**<sup>1</sup> | **Net increase** <br>**(decrease)** | **Net increase** <br>**(decrease)** |
| <br>**Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** |
| Class 1 | $41857 | 2403 | &nbsp;&nbsp;&nbsp; $19028 | 1042 | &nbsp;&nbsp;&nbsp; $(166307)<br>| (9259)<br>| &nbsp;&nbsp;&nbsp; $(105422)<br>| (5814)<br>|
| Class 1A | 339 | 19 | &nbsp;&nbsp;&nbsp; 126 | 7 | &nbsp;&nbsp;&nbsp; (191)<br>| (11)<br>| &nbsp;&nbsp;&nbsp; 274 | 15 |
| Class 2 | 21045 | 1286 | &nbsp;&nbsp;&nbsp; 39095 | 2285 | &nbsp;&nbsp;&nbsp; (102502)<br>| (6007)<br>| &nbsp;&nbsp;&nbsp; (42362)<br>| (2436)<br>|
| Class 4 | 72171 | 4238 | &nbsp;&nbsp;&nbsp; 7315 | 429 | &nbsp;&nbsp;&nbsp; (18863)<br>| (1119)<br>| &nbsp;&nbsp;&nbsp; 60623 | 3548 |
| Total net increase (decrease) | $135412 | 7946 | &nbsp;&nbsp;&nbsp; $65564 | 3763 | &nbsp;&nbsp;&nbsp; $(287863)<br>| (16396)<br>| &nbsp;&nbsp;&nbsp; $(86887)<br>| (4687)<br>|
| **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| Class 1 | $82737 | 4519 | &nbsp;&nbsp;&nbsp; $45699 | 2557 | &nbsp;&nbsp;&nbsp; $(168033)<br>| (9099)<br>| &nbsp;&nbsp;&nbsp; $(39597)<br>| (2023)<br>|
| Class 1A | 766 | 43 | &nbsp;&nbsp;&nbsp; 239 | 14 | &nbsp;&nbsp;&nbsp; (637)<br>| (35)<br>| &nbsp;&nbsp;&nbsp; 368 | 22 |
| Class 2 | 58585 | 3367 | &nbsp;&nbsp;&nbsp; 85994 | 5139 | &nbsp;&nbsp;&nbsp; (246897)<br>| (14207)<br>| &nbsp;&nbsp;&nbsp; (102318)<br>| (5701)<br>|
| Class 4 | 41322 | 2398 | &nbsp;&nbsp;&nbsp; 13498 | 810 | &nbsp;&nbsp;&nbsp; (37390)<br>| (2159)<br>| &nbsp;&nbsp;&nbsp; 17430 | 1049 |
| Total net increase (decrease) | $183410 | 10327 | &nbsp;&nbsp;&nbsp; $145430 | 8520 | &nbsp;&nbsp;&nbsp; $(452957)<br>| (25500)<br>| &nbsp;&nbsp;&nbsp; $(124117)<br>| (6653)<br>|

---

Refer to the end of the table(s) for footnote(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **342** |

---

------

**Growth Fund** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Sales**<sup>1</sup> | **Sales**<sup>1</sup> | **Reinvestments of** <br>**distributions** | **Reinvestments of** <br>**distributions** | **Repurchases**<sup>1</sup> | **Repurchases**<sup>1</sup> | **Net increase** <br>**(decrease)** | **Net increase** <br>**(decrease)** |
| <br>**Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** |
| Class 1 | $1154878 | 9350 | &nbsp;&nbsp; $1813129 | 14793 | &nbsp;&nbsp; $(1579414)<br>| (12694)<br>| &nbsp;&nbsp; $1388593 | 11449 |
| Class 1A | 73719 | 595 | &nbsp;&nbsp; 30539 | 252 | &nbsp;&nbsp; (97203)<br>| (749)<br>| &nbsp;&nbsp; 7055 | 98 |
| Class 2 | 248965 | 2034 | &nbsp;&nbsp; 1677068 | 13892 | &nbsp;&nbsp; (1393936)<br>| (11137)<br>| &nbsp;&nbsp; 532097 | 4789 |
| Class 3 | 553 | 5 | &nbsp;&nbsp; 22118 | 178 | &nbsp;&nbsp; (16524)<br>| (130)<br>| &nbsp;&nbsp; 6147 | 53 |
| Class 4 | 589030 | 4934 | &nbsp;&nbsp; 490866 | 4194 | &nbsp;&nbsp; (173917)<br>| (1448)<br>| &nbsp;&nbsp; 905979 | 7680 |
| Total net increase (decrease) | $2067145 | 16918 | &nbsp;&nbsp; $4033720 | 33309 | &nbsp;&nbsp; $(3260994)<br>| (26158)<br>| &nbsp;&nbsp; $2839871 | 24069 |
| **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| Class 1 | $1283657 | 11196 | &nbsp;&nbsp; $554066 | 4995 | &nbsp;&nbsp; $(2581742)<br>| (22564)<br>| &nbsp;&nbsp; $(744019)<br>| (6373)<br>|
| Class 1A | 43180 | 381 | &nbsp;&nbsp; 8596 | 79 | &nbsp;&nbsp; (33697)<br>| (304)<br>| &nbsp;&nbsp; 18079 | 156 |
| Class 2 | 414661 | 3673 | &nbsp;&nbsp; 506251 | 4690 | &nbsp;&nbsp; (3189792)<br>| (28372)<br>| &nbsp;&nbsp; (2268880)<br>| (20009)<br>|
| Class 3 | 1071 | 10 | &nbsp;&nbsp; 6848 | 62 | &nbsp;&nbsp; (32036)<br>| (278)<br>| &nbsp;&nbsp; (24117)<br>| (206)<br>|
| Class 4 | 874214 | 7971 | &nbsp;&nbsp; 107359 | 1032 | &nbsp;&nbsp; (368353)<br>| (3358)<br>| &nbsp;&nbsp; 613220 | 5645 |
| Total net increase (decrease) | $2616783 | 23231 | &nbsp;&nbsp; $1183120 | 10858 | &nbsp;&nbsp; $(6205620)<br>| (54876)<br>| &nbsp;&nbsp; $(2405717)<br>| (20787)<br>|

---

**International Fund** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Sales**<sup>1</sup> | **Sales**<sup>1</sup> | **Reinvestments of** <br>**distributions** | **Reinvestments of** <br>**distributions** | **Repurchases**<sup>1</sup> | **Repurchases**<sup>1</sup> | **Net increase** <br>**(decrease)** | **Net increase** <br>**(decrease)** |
| <br>**Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** |
| Class 1 | $63294 | 3490 | &nbsp;&nbsp; $2080 | 108 | &nbsp;&nbsp; $(231772)<br>| (12501)<br>| &nbsp;&nbsp; $(166398)<br>| (8903)<br>|
| Class 1A | 530 | 29 | &nbsp;&nbsp; 4 | — <br><sup>2</sup><br>| &nbsp;&nbsp; (639)<br>| (35)<br>| &nbsp;&nbsp; (105)<br>| (6)<br>|
| Class 2 | 94000 | 5226 | &nbsp;&nbsp; 776 | 41 | &nbsp;&nbsp; (307337)<br>| (16707)<br>| &nbsp;&nbsp; (212561)<br>| (11440)<br>|
| Class 3 | 100 | 5 | &nbsp;&nbsp; 5 | — <br><sup>2</sup><br>| &nbsp;&nbsp; (956)<br>| (50)<br>| &nbsp;&nbsp; (851)<br>| (45)<br>|
| Class 4 | 34797 | 1938 | &nbsp;&nbsp; — |  | &nbsp;&nbsp; (23149)<br>| (1275)<br>| &nbsp;&nbsp; 11648 | 663 |
| Total net increase (decrease) | $192721 | 10688 | &nbsp;&nbsp; $2865 | 149 | &nbsp;&nbsp; $(563853)<br>| (30568)<br>| &nbsp;&nbsp; $(368267)<br>| (19731)<br>|
| **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| Class 1 | $103818 | 5617 | &nbsp;&nbsp; $46267 | 2445 | &nbsp;&nbsp; $(505047)<br>| (27104)<br>| &nbsp;&nbsp; $(354962)<br>| (19042)<br>|
| Class 1A | 2421 | 132 | &nbsp;&nbsp; 158 | 9 | &nbsp;&nbsp; (2072)<br>| (114)<br>| &nbsp;&nbsp; 507 | 27 |
| Class 2 | 294279 | 16201 | &nbsp;&nbsp; 40220 | 2136 | &nbsp;&nbsp; (554239)<br>| (30168)<br>| &nbsp;&nbsp; (219740)<br>| (11831)<br>|
| Class 3 | 2 | — <br><sup>2</sup><br>| &nbsp;&nbsp; 191 | 10 | &nbsp;&nbsp; (2572)<br>| (137)<br>| &nbsp;&nbsp; (2379)<br>| (127)<br>|
| Class 4 | 64019 | 3511 | &nbsp;&nbsp; 4485 | 242 | &nbsp;&nbsp; (49713)<br>| (2726)<br>| &nbsp;&nbsp; 18791 | 1027 |
| Total net increase (decrease) | $464539 | 25461 | &nbsp;&nbsp; $91321 | 4842 | &nbsp;&nbsp; $(1113643)<br>| (60249)<br>| &nbsp;&nbsp; $(557783)<br>| (29946)<br>|

---

Refer to the end of the table(s) for footnote(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **343** | American Funds Insurance Series |

---

------

**New World Fund** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Sales**<sup>1</sup> | **Sales**<sup>1</sup> | **Reinvestments of** <br>**distributions** | **Reinvestments of** <br>**distributions** | **Repurchases**<sup>1</sup> | **Repurchases**<sup>1</sup> | **Net increase** <br>**(decrease)** | **Net increase** <br>**(decrease)** |
| <br>**Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** |
| Class 1 | $71378 | 2538 | &nbsp;&nbsp;&nbsp; $80187 | 2838 | &nbsp;&nbsp;&nbsp; $(176169)<br>| (6345)<br>| &nbsp;&nbsp;&nbsp; $(24604)<br>| (969)<br>|
| Class 1A | 408 | 15 | &nbsp;&nbsp;&nbsp; 502 | 18 | &nbsp;&nbsp;&nbsp; (1825)<br>| (67)<br>| &nbsp;&nbsp;&nbsp; (915)<br>| (34)<br>|
| Class 2 | 30481 | 1122 | &nbsp;&nbsp;&nbsp; 35106 | 1260 | &nbsp;&nbsp;&nbsp; (87236)<br>| (3178)<br>| &nbsp;&nbsp;&nbsp; (21649)<br>| (796)<br>|
| Class 4 | 41929 | 1547 | &nbsp;&nbsp;&nbsp; 37088 | 1345 | &nbsp;&nbsp;&nbsp; (71596)<br>| (2638)<br>| &nbsp;&nbsp;&nbsp; 7421 | 254 |
| Total net increase (decrease) | $144196 | 5222 | &nbsp;&nbsp;&nbsp; $152883 | 5461 | &nbsp;&nbsp;&nbsp; $(336826)<br>| (12228)<br>| &nbsp;&nbsp;&nbsp; $(39747)<br>| (1545)<br>|
| **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| Class 1 | $211139 | 7770 | &nbsp;&nbsp;&nbsp; $37940 | 1389 | &nbsp;&nbsp;&nbsp; $(310526)<br>| (11467)<br>| &nbsp;&nbsp;&nbsp; $(61447)<br>| (2308)<br>|
| Class 1A | 2546 | 92 | &nbsp;&nbsp;&nbsp; 216 | 8 | &nbsp;&nbsp;&nbsp; (1406)<br>| (52)<br>| &nbsp;&nbsp;&nbsp; 1356 | 48 |
| Class 2 | 97709 | 3717 | &nbsp;&nbsp;&nbsp; 15121 | 562 | &nbsp;&nbsp;&nbsp; (163082)<br>| (6131)<br>| &nbsp;&nbsp;&nbsp; (50252)<br>| (1852)<br>|
| Class 4 | 79272 | 3006 | &nbsp;&nbsp;&nbsp; 13389 | 502 | &nbsp;&nbsp;&nbsp; (106780)<br>| (4055)<br>| &nbsp;&nbsp;&nbsp; (14119)<br>| (547)<br>|
| Total net increase (decrease) | $390666 | 14585 | &nbsp;&nbsp;&nbsp; $66666 | 2461 | &nbsp;&nbsp;&nbsp; $(581794)<br>| (21705)<br>| &nbsp;&nbsp;&nbsp; $(124462)<br>| (4659)<br>|

---

**Washington Mutual Investors Fund** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Sales**<sup>1</sup> | **Sales**<sup>1</sup> | **Reinvestments of** <br>**distributions** | **Reinvestments of** <br>**distributions** | **Repurchases**<sup>1</sup> | **Repurchases**<sup>1</sup> | **Net increase** <br>**(decrease)** | **Net increase** <br>**(decrease)** |
| <br>**Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** |
| Class 1 | $101514 | 6077 | &nbsp;&nbsp; $447861 | 27045 | &nbsp;&nbsp; $(433964)<br>| (25486)<br>| &nbsp;&nbsp; $115411 | 7636 |
| Class 1A | 3863 | 226 | &nbsp;&nbsp; 2368 | 144 | &nbsp;&nbsp; (1054)<br>| (61)<br>| &nbsp;&nbsp; 5177 | 309 |
| Class 2 | 41877 | 2492 | &nbsp;&nbsp; 217964 | 13455 | &nbsp;&nbsp; (205682)<br>| (12318)<br>| &nbsp;&nbsp; 54159 | 3629 |
| Class 4 | 179899 | 10924 | &nbsp;&nbsp; 143109 | 8955 | &nbsp;&nbsp; (58553)<br>| (3594)<br>| &nbsp;&nbsp; 264455 | 16285 |
| Total net increase (decrease) | $327153 | 19719 | &nbsp;&nbsp; $811302 | 49599 | &nbsp;&nbsp; $(699253)<br>| (41459)<br>| &nbsp;&nbsp; $439202 | 27859 |
| **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| Class 1 | $87079 | 5408 | &nbsp;&nbsp; $161220 | 9874 | &nbsp;&nbsp; $(948618)<br>| (58997)<br>| &nbsp;&nbsp; $(700319)<br>| (43715)<br>|
| Class 1A | 4491 | 279 | &nbsp;&nbsp; 628 | 38 | &nbsp;&nbsp; (3232)<br>| (205)<br>| &nbsp;&nbsp; 1887 | 112 |
| Class 2 | 56060 | 3529 | &nbsp;&nbsp; 71557 | 4484 | &nbsp;&nbsp; (477590)<br>| (30368)<br>| &nbsp;&nbsp; (349973)<br>| (22355)<br>|
| Class 4 | 260219 | 16589 | &nbsp;&nbsp; 36302 | 2301 | &nbsp;&nbsp; (99151)<br>| (6416)<br>| &nbsp;&nbsp; 197370 | 12474 |
| Total net increase (decrease) | $407849 | 25805 | &nbsp;&nbsp; $269707 | 16697 | &nbsp;&nbsp; $(1528591)<br>| (95986)<br>| &nbsp;&nbsp; $(851035)<br>| (53484)<br>|

---

**U.S. Small and Mid Cap Equity Fund** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Sales**<sup>1</sup> | **Sales**<sup>1</sup> | **Reinvestments of** <br>**distributions** | **Reinvestments of** <br>**distributions** | **Repurchases**<sup>1</sup> | **Repurchases**<sup>1</sup> | **Net increase** <br>**(decrease)** | **Net increase** <br>**(decrease)** |
| <br>**Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** |
| Class 1 | &nbsp;&nbsp; $— | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; $— <br><sup>2</sup><br>| &nbsp;&nbsp; — <br><sup>2</sup><br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; $— <br><sup>2</sup><br>| &nbsp;&nbsp; — <br><sup>2</sup><br>|
| Class 1A | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — <br><sup>2</sup><br>| &nbsp;&nbsp; — <br><sup>2</sup><br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — <br><sup>2</sup><br>| &nbsp;&nbsp; — <br><sup>2</sup><br>|
| Class 2 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — <br><sup>2</sup><br>| &nbsp;&nbsp; — <br><sup>2</sup><br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — <br><sup>2</sup><br>| &nbsp;&nbsp; — <br><sup>2</sup><br>|
| Class 4 | &nbsp;&nbsp; 68 | &nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 73 | &nbsp;&nbsp; 7 |
| Total net increase (decrease) | &nbsp;&nbsp; $68 | &nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp; $5 | &nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; $73 | &nbsp;&nbsp; 7 |
| **For the period November 15, 2024**<sup>3</sup> **to December 31, 2024** | **For the period November 15, 2024**<sup>3</sup> **to December 31, 2024** | **For the period November 15, 2024**<sup>3</sup> **to December 31, 2024** | **For the period November 15, 2024**<sup>3</sup> **to December 31, 2024** | **For the period November 15, 2024**<sup>3</sup> **to December 31, 2024** | **For the period November 15, 2024**<sup>3</sup> **to December 31, 2024** | **For the period November 15, 2024**<sup>3</sup> **to December 31, 2024** | **For the period November 15, 2024**<sup>3</sup> **to December 31, 2024** | **For the period November 15, 2024**<sup>3</sup> **to December 31, 2024** |
| Class 1 | &nbsp;&nbsp; $10 | &nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp; $— <br><sup>2</sup><br>| &nbsp;&nbsp; — <br><sup>2</sup><br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; $10 | &nbsp;&nbsp; 1 |
| Class 1A | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp; — <br><sup>2</sup><br>| &nbsp;&nbsp; — <br><sup>2</sup><br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp; 1 |
| Class 2 | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp; — <br><sup>2</sup><br>| &nbsp;&nbsp; — <br><sup>2</sup><br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp; 1 |
| Class 4 | &nbsp;&nbsp; 14970 | &nbsp;&nbsp; 1497 | &nbsp;&nbsp;&nbsp; 13 | &nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 14983 | &nbsp;&nbsp; 1498 |
| Total net increase (decrease) | &nbsp;&nbsp; $15000 | &nbsp;&nbsp; 1500 | &nbsp;&nbsp;&nbsp; $13 | &nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; $15013 | &nbsp;&nbsp; 1501 |

---

Refer to the end of the table(s) for footnote(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **344** |

---

------

**Capital World Growth and Income Fund** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Sales**<sup>1</sup> | **Sales**<sup>1</sup> | **Reinvestments of** <br>**distributions** | **Reinvestments of** <br>**distributions** | **Repurchases**<sup>1</sup> | **Repurchases**<sup>1</sup> | **Net increase** <br>**(decrease)** | **Net increase** <br>**(decrease)** |
| <br>**Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** |
| Class 1 | $40119 | 2660 | &nbsp;&nbsp;&nbsp; $22861 | 1414 | &nbsp;&nbsp;&nbsp; $(98762)<br>| (6251)<br>| &nbsp;&nbsp;&nbsp; $(35782)<br>| (2177)<br>|
| Class 1A | 1184 | 74 | &nbsp;&nbsp;&nbsp; 383 | 23 | &nbsp;&nbsp;&nbsp; (280)<br>| (17)<br>| &nbsp;&nbsp;&nbsp; 1287 | 80 |
| Class 2 | 9776 | 617 | &nbsp;&nbsp;&nbsp; 39834 | 2473 | &nbsp;&nbsp;&nbsp; (88441)<br>| (5547)<br>| &nbsp;&nbsp;&nbsp; (38831)<br>| (2457)<br>|
| Class 4 | 26679 | 1720 | &nbsp;&nbsp;&nbsp; 11775 | 752 | &nbsp;&nbsp;&nbsp; (14288)<br>| (925)<br>| &nbsp;&nbsp;&nbsp; 24166 | 1547 |
| Total net increase (decrease) | $77758 | 5071 | &nbsp;&nbsp;&nbsp; $74853 | 4662 | &nbsp;&nbsp;&nbsp; $(201771)<br>| (12740)<br>| &nbsp;&nbsp;&nbsp; $(49160)<br>| (3007)<br>|
| **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| Class 1 | $61832 | 4046 | &nbsp;&nbsp;&nbsp; $11187 | 709 | &nbsp;&nbsp;&nbsp; $(124340)<br>| (8176)<br>| &nbsp;&nbsp;&nbsp; $(51321)<br>| (3421)<br>|
| Class 1A | 1263 | 86 | &nbsp;&nbsp;&nbsp; 144 | 9 | &nbsp;&nbsp;&nbsp; (793)<br>| (51)<br>| &nbsp;&nbsp;&nbsp; 614 | 44 |
| Class 2 | 14751 | 970 | &nbsp;&nbsp;&nbsp; 17039 | 1085 | &nbsp;&nbsp;&nbsp; (177803)<br>| (11812)<br>| &nbsp;&nbsp;&nbsp; (146013)<br>| (9757)<br>|
| Class 4 | 31604 | 2138 | &nbsp;&nbsp;&nbsp; 3943 | 258 | &nbsp;&nbsp;&nbsp; (30478)<br>| (2080)<br>| &nbsp;&nbsp;&nbsp; 5069 | 316 |
| Total net increase (decrease) | $109450 | 7240 | &nbsp;&nbsp;&nbsp; $32313 | 2061 | &nbsp;&nbsp;&nbsp; $(333414)<br>| (22119)<br>| &nbsp;&nbsp;&nbsp; $(191651)<br>| (12818)<br>|

---

**Growth-Income Fund** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Sales**<sup>1</sup> | **Sales**<sup>1</sup> | **Reinvestments of** <br>**distributions** | **Reinvestments of** <br>**distributions** | **Repurchases**<sup>1</sup> | **Repurchases**<sup>1</sup> | **Net increase** <br>**(decrease)** | **Net increase** <br>**(decrease)** |
| <br>**Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** |
| Class 1 | $511559 | 7825 | &nbsp;&nbsp; $4165917 | 69688 | &nbsp;&nbsp; $(1641284)<br>| (24371)<br>| &nbsp;&nbsp; $3036192 | 53142 |
| Class 1A | 2245 | 35 | &nbsp;&nbsp; 7777 | 131 | &nbsp;&nbsp; (1976)<br>| (29)<br>| &nbsp;&nbsp; 8046 | 137 |
| Class 2 | 63453 | 961 | &nbsp;&nbsp; 2370964 | 40536 | &nbsp;&nbsp; (883298)<br>| (13297)<br>| &nbsp;&nbsp; 1551119 | 28200 |
| Class 3 | 270 | 4 | &nbsp;&nbsp; 25474 | 426 | &nbsp;&nbsp; (12167)<br>| (178)<br>| &nbsp;&nbsp; 13577 | 252 |
| Class 4 | 194913 | 2988 | &nbsp;&nbsp; 503401 | 8808 | &nbsp;&nbsp; (123143)<br>| (1891)<br>| &nbsp;&nbsp; 575171 | 9905 |
| Total net increase (decrease) | $772440 | 11813 | &nbsp;&nbsp; $7073533 | 119589 | &nbsp;&nbsp; $(2661868)<br>| (39766)<br>| &nbsp;&nbsp; $5184105 | 91636 |
| **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| Class 1 | $332044 | 5020 | &nbsp;&nbsp; $1360424 | 21268 | &nbsp;&nbsp; $(3357393)<br>| (51220)<br>| &nbsp;&nbsp; $(1664925)<br>| (24932)<br>|
| Class 1A | 5383 | 81 | &nbsp;&nbsp; 2198 | 35 | &nbsp;&nbsp; (5242)<br>| (81)<br>| &nbsp;&nbsp; 2339 | 35 |
| Class 2 | 113447 | 1761 | &nbsp;&nbsp; 760811 | 12154 | &nbsp;&nbsp; (2068284)<br>| (32090)<br>| &nbsp;&nbsp; (1194026)<br>| (18175)<br>|
| Class 3 | 313 | 5 | &nbsp;&nbsp; 8392 | 131 | &nbsp;&nbsp; (19777)<br>| (301)<br>| &nbsp;&nbsp; (11072)<br>| (165)<br>|
| Class 4 | 332452 | 5218 | &nbsp;&nbsp; 131545 | 2144 | &nbsp;&nbsp; (199130)<br>| (3142)<br>| &nbsp;&nbsp; 264867 | 4220 |
| Total net increase (decrease) | $783639 | 12085 | &nbsp;&nbsp; $2263370 | 35732 | &nbsp;&nbsp; $(5649826)<br>| (86834)<br>| &nbsp;&nbsp; $(2602817)<br>| (39017)<br>|

---

Refer to the end of the table(s) for footnote(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **345** | American Funds Insurance Series |

---

------

**International Growth and Income Fund** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Sales**<sup>1</sup> | **Sales**<sup>1</sup> | **Reinvestments of** <br>**distributions** | **Reinvestments of** <br>**distributions** | **Repurchases**<sup>1</sup> | **Repurchases**<sup>1</sup> | **Net increase** <br>**(decrease)** | **Net increase** <br>**(decrease)** |
| <br>**Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** |
| Class 1 | &nbsp;&nbsp; $15811 | &nbsp;&nbsp; 1385 | &nbsp;&nbsp;&nbsp; $112 | &nbsp;&nbsp; 9 | &nbsp;&nbsp;&nbsp; $(5330)<br>| &nbsp;&nbsp; (497)<br>| &nbsp;&nbsp;&nbsp; $10593 | &nbsp;&nbsp; 897 |
| Class 1A | &nbsp;&nbsp; 556 | &nbsp;&nbsp; 53 | &nbsp;&nbsp;&nbsp; 28 | &nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp; (350)<br>| &nbsp;&nbsp; (33)<br>| &nbsp;&nbsp;&nbsp; 234 | &nbsp;&nbsp; 23 |
| Class 2 | &nbsp;&nbsp; 2119 | &nbsp;&nbsp; 196 | &nbsp;&nbsp;&nbsp; 614 | &nbsp;&nbsp; 53 | &nbsp;&nbsp;&nbsp; (17536)<br>| &nbsp;&nbsp; (1614)<br>| &nbsp;&nbsp;&nbsp; (14803)<br>| &nbsp;&nbsp; (1365)<br>|
| Class 4 | &nbsp;&nbsp; 21208 | &nbsp;&nbsp; 1980 | &nbsp;&nbsp;&nbsp; 669 | &nbsp;&nbsp; 59 | &nbsp;&nbsp;&nbsp; (11288)<br>| &nbsp;&nbsp; (1056)<br>| &nbsp;&nbsp;&nbsp; 10589 | &nbsp;&nbsp; 983 |
| Total net increase (decrease) | &nbsp;&nbsp; $39694 | &nbsp;&nbsp; 3614 | &nbsp;&nbsp;&nbsp; $1423 | &nbsp;&nbsp; 124 | &nbsp;&nbsp;&nbsp; $(34504)<br>| &nbsp;&nbsp; (3200)<br>| &nbsp;&nbsp;&nbsp; $6613 | &nbsp;&nbsp; 538 |
| **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| Class 1 | &nbsp;&nbsp; $3051 | &nbsp;&nbsp; 287 | &nbsp;&nbsp;&nbsp; $461 | &nbsp;&nbsp; 43 | &nbsp;&nbsp;&nbsp; $(1958)<br>| &nbsp;&nbsp; (184)<br>| &nbsp;&nbsp;&nbsp; $1554 | &nbsp;&nbsp; 146 |
| Class 1A | &nbsp;&nbsp; 950 | &nbsp;&nbsp; 92 | &nbsp;&nbsp;&nbsp; 156 | &nbsp;&nbsp; 15 | &nbsp;&nbsp;&nbsp; (1296)<br>| &nbsp;&nbsp; (129)<br>| &nbsp;&nbsp;&nbsp; (190)<br>| &nbsp;&nbsp; (22)<br>|
| Class 2 | &nbsp;&nbsp; 5039 | &nbsp;&nbsp; 489 | &nbsp;&nbsp;&nbsp; 3897 | &nbsp;&nbsp; 378 | &nbsp;&nbsp;&nbsp; (25957)<br>| &nbsp;&nbsp; (2509)<br>| &nbsp;&nbsp;&nbsp; (17021)<br>| &nbsp;&nbsp; (1642)<br>|
| Class 4 | &nbsp;&nbsp; 22262 | &nbsp;&nbsp; 2198 | &nbsp;&nbsp;&nbsp; 3583 | &nbsp;&nbsp; 353 | &nbsp;&nbsp;&nbsp; (19235)<br>| &nbsp;&nbsp; (1887)<br>| &nbsp;&nbsp;&nbsp; 6610 | &nbsp;&nbsp; 664 |
| Total net increase (decrease) | &nbsp;&nbsp; $31302 | &nbsp;&nbsp; 3066 | &nbsp;&nbsp;&nbsp; $8097 | &nbsp;&nbsp; 789 | &nbsp;&nbsp;&nbsp; $(48446)<br>| &nbsp;&nbsp; (4709)<br>| &nbsp;&nbsp;&nbsp; $(9047)<br>| &nbsp;&nbsp; (854)<br>|

---

**Capital Income Builder** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Sales**<sup>1</sup> | **Sales**<sup>1</sup> | **Reinvestments of** <br>**distributions** | **Reinvestments of** <br>**distributions** | **Repurchases**<sup>1</sup> | **Repurchases**<sup>1</sup> | **Net increase** <br>**(decrease)** | **Net increase** <br>**(decrease)** |
| <br>**Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** |
| Class 1 | $53250 | 4104 | &nbsp;&nbsp;&nbsp; $9077 | 689 | &nbsp;&nbsp;&nbsp; $(55753)<br>| (4314)<br>| &nbsp;&nbsp;&nbsp; $6574 | 479 |
| Class 1A | 723 | 57 | &nbsp;&nbsp;&nbsp; 143 | 11 | &nbsp;&nbsp;&nbsp; (879)<br>| (68)<br>| &nbsp;&nbsp;&nbsp; (13)<br>| — <br><sup>2</sup><br>|
| Class 2 | 874 | 66 | &nbsp;&nbsp;&nbsp; 212 | 16 | &nbsp;&nbsp;&nbsp; (1115)<br>| (85)<br>| &nbsp;&nbsp;&nbsp; (29)<br>| (3)<br>|
| Class 4 | 72342 | 5524 | &nbsp;&nbsp;&nbsp; 6699 | 509 | &nbsp;&nbsp;&nbsp; (39075)<br>| (3019)<br>| &nbsp;&nbsp;&nbsp; 39966 | 3014 |
| Total net increase (decrease) | $127189 | 9751 | &nbsp;&nbsp;&nbsp; $16131 | 1225 | &nbsp;&nbsp;&nbsp; $(96822)<br>| (7486)<br>| &nbsp;&nbsp;&nbsp; $46498 | 3490 |
| **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| Class 1 | $55004 | 4532 | &nbsp;&nbsp;&nbsp; $25389 | 2057 | &nbsp;&nbsp;&nbsp; $(74884)<br>| (6100)<br>| &nbsp;&nbsp;&nbsp; $5509 | 489 |
| Class 1A | 1738 | 141 | &nbsp;&nbsp;&nbsp; 397 | 32 | &nbsp;&nbsp;&nbsp; (825)<br>| (68)<br>| &nbsp;&nbsp;&nbsp; 1310 | 105 |
| Class 2 | 3421 | 272 | &nbsp;&nbsp;&nbsp; 575 | 47 | &nbsp;&nbsp;&nbsp; (1546)<br>| (126)<br>| &nbsp;&nbsp;&nbsp; 2450 | 193 |
| Class 4 | 82282 | 6662 | &nbsp;&nbsp;&nbsp; 19315 | 1565 | &nbsp;&nbsp;&nbsp; (75684)<br>| (6165)<br>| &nbsp;&nbsp;&nbsp; 25913 | 2062 |
| Total net increase (decrease) | $142445 | 11607 | &nbsp;&nbsp;&nbsp; $45676 | 3701 | &nbsp;&nbsp;&nbsp; $(152939)<br>| (12459)<br>| &nbsp;&nbsp;&nbsp; $35182 | 2849 |

---

Refer to the end of the table(s) for footnote(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **346** |

---

------

**Asset Allocation Fund** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Sales**<sup>1</sup> | **Sales**<sup>1</sup> | **Reinvestments of** <br>**distributions** | **Reinvestments of** <br>**distributions** | **Repurchases**<sup>1</sup> | **Repurchases**<sup>1</sup> | **Net increase** <br>**(decrease)** | **Net increase** <br>**(decrease)** |
| <br>**Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** |
| Class 1 | $214618 | 8406 | &nbsp;&nbsp; $1183741 | 46955 | &nbsp;&nbsp; $(1239167)<br>| (47739)<br>| &nbsp;&nbsp; $159192 | 7622 |
| Class 1A | 3528 | 137 | &nbsp;&nbsp; 3229 | 129 | &nbsp;&nbsp; (3619)<br>| (139)<br>| &nbsp;&nbsp; 3138 | 127 |
| Class 2 | 41143 | 1602 | &nbsp;&nbsp; 324461 | 13093 | &nbsp;&nbsp; (312360)<br>| (12180)<br>| &nbsp;&nbsp; 53244 | 2515 |
| Class 3 | 313 | 12 | &nbsp;&nbsp; 2407 | 96 | &nbsp;&nbsp; (1415)<br>| (54)<br>| &nbsp;&nbsp; 1305 | 54 |
| Class 4 | 189713 | 7467 | &nbsp;&nbsp; 511813 | 20873 | &nbsp;&nbsp; (394555)<br>| (15526)<br>| &nbsp;&nbsp; 306971 | 12814 |
| Total net increase (decrease) | $449315 | 17624 | &nbsp;&nbsp; $2025651 | 81146 | &nbsp;&nbsp; $(1951116)<br>| (75638)<br>| &nbsp;&nbsp; $523850 | 23132 |
| **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| Class 1 | $189766 | 7473 | &nbsp;&nbsp; $1052819 | 42339 | &nbsp;&nbsp; $(2193455)<br>| (86366)<br>| &nbsp;&nbsp; $(950870)<br>| (36554)<br>|
| Class 1A | 9384 | 373 | &nbsp;&nbsp; 2270 | 91 | &nbsp;&nbsp; (5272)<br>| (211)<br>| &nbsp;&nbsp; 6382 | 253 |
| Class 2 | 63147 | 2538 | &nbsp;&nbsp; 280024 | 11458 | &nbsp;&nbsp; (646053)<br>| (25867)<br>| &nbsp;&nbsp; (302882)<br>| (11871)<br>|
| Class 3 | 546 | 22 | &nbsp;&nbsp; 2019 | 81 | &nbsp;&nbsp; (3219)<br>| (128)<br>| &nbsp;&nbsp; (654)<br>| (25)<br>|
| Class 4 | 595855 | 24315 | &nbsp;&nbsp; 406136 | 16791 | &nbsp;&nbsp; (703265)<br>| (28339)<br>| &nbsp;&nbsp; 298726 | 12767 |
| Total net increase (decrease) | $858698 | 34721 | &nbsp;&nbsp; $1743268 | 70760 | &nbsp;&nbsp; $(3551264)<br>| (140911)<br>| &nbsp;&nbsp; $(949298)<br>| (35430)<br>|

---

**American Funds Global Balanced Fund** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Sales**<sup>1</sup> | **Sales**<sup>1</sup> | **Reinvestments of** <br>**distributions** | **Reinvestments of** <br>**distributions** | **Repurchases**<sup>1</sup> | **Repurchases**<sup>1</sup> | **Net increase** <br>**(decrease)** | **Net increase** <br>**(decrease)** |
| <br>**Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** |
| Class 1 | &nbsp;&nbsp; $4237 | &nbsp;&nbsp; 324 | &nbsp;&nbsp;&nbsp; $3840 | &nbsp;&nbsp; 290 | &nbsp;&nbsp;&nbsp; $(11565)<br>| &nbsp;&nbsp; (878)<br>| &nbsp;&nbsp;&nbsp; $(3488)<br>| &nbsp;&nbsp; (264)<br>|
| Class 1A | &nbsp;&nbsp; 256 | &nbsp;&nbsp; 19 | &nbsp;&nbsp;&nbsp; 161 | &nbsp;&nbsp; 12 | &nbsp;&nbsp;&nbsp; (215)<br>| &nbsp;&nbsp; (16)<br>| &nbsp;&nbsp;&nbsp; 202 | &nbsp;&nbsp; 15 |
| Class 2 | &nbsp;&nbsp; 1215 | &nbsp;&nbsp; 91 | &nbsp;&nbsp;&nbsp; 5951 | &nbsp;&nbsp; 452 | &nbsp;&nbsp;&nbsp; (14274)<br>| &nbsp;&nbsp; (1080)<br>| &nbsp;&nbsp;&nbsp; (7108)<br>| &nbsp;&nbsp; (537)<br>|
| Class 4 | &nbsp;&nbsp; 20102 | &nbsp;&nbsp; 1545 | &nbsp;&nbsp;&nbsp; 6604 | &nbsp;&nbsp; 511 | &nbsp;&nbsp;&nbsp; (10367)<br>| &nbsp;&nbsp; (799)<br>| &nbsp;&nbsp;&nbsp; 16339 | &nbsp;&nbsp; 1257 |
| Total net increase (decrease) | &nbsp;&nbsp; $25810 | &nbsp;&nbsp; 1979 | &nbsp;&nbsp;&nbsp; $16556 | &nbsp;&nbsp; 1265 | &nbsp;&nbsp;&nbsp; $(36421)<br>| &nbsp;&nbsp; (2773)<br>| &nbsp;&nbsp;&nbsp; $5945 | &nbsp;&nbsp; 471 |
| **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| Class 1 | &nbsp;&nbsp; $5008 | &nbsp;&nbsp; 386 | &nbsp;&nbsp;&nbsp; $1963 | &nbsp;&nbsp; 149 | &nbsp;&nbsp;&nbsp; $(13832)<br>| &nbsp;&nbsp; (1065)<br>| &nbsp;&nbsp;&nbsp; $(6861)<br>| &nbsp;&nbsp; (530)<br>|
| Class 1A | &nbsp;&nbsp; 1071 | &nbsp;&nbsp; 82 | &nbsp;&nbsp;&nbsp; 64 | &nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp; (316)<br>| &nbsp;&nbsp; (25)<br>| &nbsp;&nbsp;&nbsp; 819 | &nbsp;&nbsp; 62 |
| Class 2 | &nbsp;&nbsp; 5061 | &nbsp;&nbsp; 388 | &nbsp;&nbsp;&nbsp; 2714 | &nbsp;&nbsp; 208 | &nbsp;&nbsp;&nbsp; (26779)<br>| &nbsp;&nbsp; (2070)<br>| &nbsp;&nbsp;&nbsp; (19004)<br>| &nbsp;&nbsp; (1474)<br>|
| Class 4 | &nbsp;&nbsp; 23792 | &nbsp;&nbsp; 1863 | &nbsp;&nbsp;&nbsp; 2307 | &nbsp;&nbsp; 180 | &nbsp;&nbsp;&nbsp; (15540)<br>| &nbsp;&nbsp; (1226)<br>| &nbsp;&nbsp;&nbsp; 10559 | &nbsp;&nbsp; 817 |
| Total net increase (decrease) | &nbsp;&nbsp; $34932 | &nbsp;&nbsp; 2719 | &nbsp;&nbsp;&nbsp; $7048 | &nbsp;&nbsp; 542 | &nbsp;&nbsp;&nbsp; $(56467)<br>| &nbsp;&nbsp; (4386)<br>| &nbsp;&nbsp;&nbsp; $(14487)<br>| &nbsp;&nbsp; (1125)<br>|

---

Refer to the end of the table(s) for footnote(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **347** | American Funds Insurance Series |

---

------

**The Bond Fund of America** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Sales**<sup>1</sup> | **Sales**<sup>1</sup> | **Reinvestments of** <br>**distributions** | **Reinvestments of** <br>**distributions** | **Repurchases**<sup>1</sup> | **Repurchases**<sup>1</sup> | **Net increase** <br>**(decrease)** | **Net increase** <br>**(decrease)** |
| <br>**Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** |
| Class 1 | $413053 | 43891 | &nbsp;&nbsp; $59979 | 6381 | &nbsp;&nbsp; $(982200)<br>| (103891)<br>| &nbsp;&nbsp; $(509168)<br>| (53619)<br>|
| Class 1A | 44943 | 4815 | &nbsp;&nbsp; 2233 | 240 | &nbsp;&nbsp; (16662)<br>| (1774)<br>| &nbsp;&nbsp; 30514 | 3281 |
| Class 2 | 38712 | 4164 | &nbsp;&nbsp; 23485 | 2542 | &nbsp;&nbsp; (206373)<br>| (22197)<br>| &nbsp;&nbsp; (144176)<br>| (15491)<br>|
| Class 4 | 111809 | 12133 | &nbsp;&nbsp; 10633 | 1158 | &nbsp;&nbsp; (66741)<br>| (7230)<br>| &nbsp;&nbsp; 55701 | 6061 |
| Total net increase (decrease) | $608517 | 65003 | &nbsp;&nbsp; $96330 | 10321 | &nbsp;&nbsp; $(1271976)<br>| (135092)<br>| &nbsp;&nbsp; $(567129)<br>| (59768)<br>|
| **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| Class 1 | $997057 | 104811 | &nbsp;&nbsp; $303806 | 32314 | &nbsp;&nbsp; $(1023095)<br>| (106864)<br>| &nbsp;&nbsp; $277768 | 30261 |
| Class 1A | 30267 | 3210 | &nbsp;&nbsp; 8908 | 955 | &nbsp;&nbsp; (69212)<br>| (7414)<br>| &nbsp;&nbsp; (30037)<br>| (3249)<br>|
| Class 2 | 118960 | 12741 | &nbsp;&nbsp; 115243 | 12454 | &nbsp;&nbsp; (268162)<br>| (28438)<br>| &nbsp;&nbsp; (33959)<br>| (3243)<br>|
| Class 4 | 297378 | 31907 | &nbsp;&nbsp; 45913 | 4990 | &nbsp;&nbsp; (82229)<br>| (8801)<br>| &nbsp;&nbsp; 261062 | 28096 |
| Total net increase (decrease) | $1443662 | 152669 | &nbsp;&nbsp; $473870 | 50713 | &nbsp;&nbsp; $(1442698)<br>| (151517)<br>| &nbsp;&nbsp; $474834 | 51865 |

---

**Capital World Bond Fund** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Sales**<sup>1</sup> | **Sales**<sup>1</sup> | **Reinvestments of** <br>**distributions** | **Reinvestments of** <br>**distributions** | **Repurchases**<sup>1</sup> | **Repurchases**<sup>1</sup> | **Net increase** <br>**(decrease)** | **Net increase** <br>**(decrease)** |
| <br>**Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** |
| Class 1 | $53252 | 5284 | &nbsp;&nbsp;&nbsp; $1662 | 163 | &nbsp;&nbsp;&nbsp; $(71979)<br>| (7167)<br>| &nbsp;&nbsp;&nbsp; $(17065)<br>| (1720)<br>|
| Class 1A | 2275 | 236 | &nbsp;&nbsp;&nbsp; 53 | 5 | &nbsp;&nbsp;&nbsp; (18255)<br>| (1837)<br>| &nbsp;&nbsp;&nbsp; (15927)<br>| (1596)<br>|
| Class 2 | 34568 | 3519 | &nbsp;&nbsp;&nbsp; 1728 | 172 | &nbsp;&nbsp;&nbsp; (102579)<br>| (10384)<br>| &nbsp;&nbsp;&nbsp; (66283)<br>| (6693)<br>|
| Class 4 | 11296 | 1158 | &nbsp;&nbsp;&nbsp; 146 | 15 | &nbsp;&nbsp;&nbsp; (5087)<br>| (523)<br>| &nbsp;&nbsp;&nbsp; 6355 | 650 |
| Total net increase (decrease) | $101391 | 10197 | &nbsp;&nbsp;&nbsp; $3589 | 355 | &nbsp;&nbsp;&nbsp; $(197900)<br>| (19911)<br>| &nbsp;&nbsp;&nbsp; $(92920)<br>| (9359)<br>|
| **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| Class 1 | $50423 | 5049 | &nbsp;&nbsp;&nbsp; $15387 | 1561 | &nbsp;&nbsp;&nbsp; $(110677)<br>| (11006)<br>| &nbsp;&nbsp;&nbsp; $(44867)<br>| (4396)<br>|
| Class 1A | 39370 | 4030 | &nbsp;&nbsp;&nbsp; 983 | 100 | &nbsp;&nbsp;&nbsp; (1586)<br>| (160)<br>| &nbsp;&nbsp;&nbsp; 38767 | 3970 |
| Class 2 | 107727 | 10975 | &nbsp;&nbsp;&nbsp; 16410 | 1683 | &nbsp;&nbsp;&nbsp; (141037)<br>| (14229)<br>| &nbsp;&nbsp;&nbsp; (16900)<br>| (1571)<br>|
| Class 4 | 13021 | 1348 | &nbsp;&nbsp;&nbsp; 1135 | 119 | &nbsp;&nbsp;&nbsp; (7549)<br>| (775)<br>| &nbsp;&nbsp;&nbsp; 6607 | 692 |
| Total net increase (decrease) | $210541 | 21402 | &nbsp;&nbsp;&nbsp; $33915 | 3463 | &nbsp;&nbsp;&nbsp; $(260849)<br>| (26170)<br>| &nbsp;&nbsp;&nbsp; $(16393)<br>| (1305)<br>|

---

Refer to the end of the table(s) for footnote(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **348** |

---

------

**American High-Income Trust** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Sales**<sup>1</sup> | **Sales**<sup>1</sup> | **Reinvestments of** <br>**distributions** | **Reinvestments of** <br>**distributions** | **Repurchases**<sup>1</sup> | **Repurchases**<sup>1</sup> | **Net increase** <br>**(decrease)** | **Net increase** <br>**(decrease)** |
| <br>**Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** |
| Class 1 | $24975 | 2760 | &nbsp;&nbsp;&nbsp; $2778 | 300 | &nbsp;&nbsp;&nbsp; $(15383)<br>| (1664)<br>| &nbsp;&nbsp;&nbsp; $12370 | 1396 |
| Class 1A | 537 | 58 | &nbsp;&nbsp;&nbsp; 37 | 4 | &nbsp;&nbsp;&nbsp; (528)<br>| (57)<br>| &nbsp;&nbsp;&nbsp; 46 | 5 |
| Class 2 | 24001 | 2639 | &nbsp;&nbsp;&nbsp; 5936 | 658 | &nbsp;&nbsp;&nbsp; (45605)<br>| (5041)<br>| &nbsp;&nbsp;&nbsp; (15668)<br>| (1744)<br>|
| Class 3 | 172 | 18 | &nbsp;&nbsp;&nbsp; 87 | 9 | &nbsp;&nbsp;&nbsp; (497)<br>| (53)<br>| &nbsp;&nbsp;&nbsp; (238)<br>| (26)<br>|
| Class 4 | 70614 | 6928 | &nbsp;&nbsp;&nbsp; 1920 | 189 | &nbsp;&nbsp;&nbsp; (33731)<br>| (3336)<br>| &nbsp;&nbsp;&nbsp; 38803 | 3781 |
| Total net increase (decrease) | $120299 | 12403 | &nbsp;&nbsp;&nbsp; $10758 | 1160 | &nbsp;&nbsp;&nbsp; $(95744)<br>| (10151)<br>| &nbsp;&nbsp;&nbsp; $35313 | 3412 |
| **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| Class 1 | $9340 | 1009 | &nbsp;&nbsp;&nbsp; $15096 | 1627 | &nbsp;&nbsp;&nbsp; $(25253)<br>| (2709)<br>| &nbsp;&nbsp;&nbsp; $(817)<br>| (73)<br>|
| Class 1A | 996 | 107 | &nbsp;&nbsp;&nbsp; 199 | 21 | &nbsp;&nbsp;&nbsp; (720)<br>| (77)<br>| &nbsp;&nbsp;&nbsp; 475 | 51 |
| Class 2 | 18069 | 1979 | &nbsp;&nbsp;&nbsp; 35146 | 3885 | &nbsp;&nbsp;&nbsp; (64581)<br>| (7119)<br>| &nbsp;&nbsp;&nbsp; (11366)<br>| (1255)<br>|
| Class 3 | 151 | 16 | &nbsp;&nbsp;&nbsp; 529 | 57 | &nbsp;&nbsp;&nbsp; (1201)<br>| (130)<br>| &nbsp;&nbsp;&nbsp; (521)<br>| (57)<br>|
| Class 4 | 93982 | 9271 | &nbsp;&nbsp;&nbsp; 8335 | 821 | &nbsp;&nbsp;&nbsp; (55362)<br>| (5531)<br>| &nbsp;&nbsp;&nbsp; 46955 | 4561 |
| Total net increase (decrease) | $122538 | 12382 | &nbsp;&nbsp;&nbsp; $59305 | 6411 | &nbsp;&nbsp;&nbsp; $(147117)<br>| (15566)<br>| &nbsp;&nbsp;&nbsp; $34726 | 3227 |

---

**American Funds Mortgage Fund** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Sales**<sup>1</sup> | **Sales**<sup>1</sup> | **Reinvestments of** <br>**distributions** | **Reinvestments of** <br>**distributions** | **Repurchases**<sup>1</sup> | **Repurchases**<sup>1</sup> | **Net increase** <br>**(decrease)** | **Net increase** <br>**(decrease)** |
| <br>**Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** |
| Class 1 | &nbsp;&nbsp; $172 | &nbsp;&nbsp; 19 | &nbsp;&nbsp;&nbsp; $143 | &nbsp;&nbsp; 16 | &nbsp;&nbsp;&nbsp; $(98)<br>| &nbsp;&nbsp; (11)<br>| &nbsp;&nbsp;&nbsp; $217 | &nbsp;&nbsp; 24 |
| Class 1A | &nbsp;&nbsp; 432 | &nbsp;&nbsp; 47 | &nbsp;&nbsp;&nbsp; 23 | &nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp; (205)<br>| &nbsp;&nbsp; (22)<br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 27 |
| Class 2 | &nbsp;&nbsp; 1345 | &nbsp;&nbsp; 146 | &nbsp;&nbsp;&nbsp; 316 | &nbsp;&nbsp; 34 | &nbsp;&nbsp;&nbsp; (3788)<br>| &nbsp;&nbsp; (412)<br>| &nbsp;&nbsp;&nbsp; (2127)<br>| &nbsp;&nbsp; (232)<br>|
| Class 4 | &nbsp;&nbsp; 7786 | &nbsp;&nbsp; 856 | &nbsp;&nbsp;&nbsp; 414 | &nbsp;&nbsp; 46 | &nbsp;&nbsp;&nbsp; (3836)<br>| &nbsp;&nbsp; (422)<br>| &nbsp;&nbsp;&nbsp; 4364 | &nbsp;&nbsp; 480 |
| Total net increase (decrease) | &nbsp;&nbsp; $9735 | &nbsp;&nbsp; 1068 | &nbsp;&nbsp;&nbsp; $896 | &nbsp;&nbsp; 98 | &nbsp;&nbsp;&nbsp; $(7927)<br>| &nbsp;&nbsp; (867)<br>| &nbsp;&nbsp;&nbsp; $2704 | &nbsp;&nbsp; 299 |
| **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| Class 1 | &nbsp;&nbsp; $170 | &nbsp;&nbsp; 18 | &nbsp;&nbsp;&nbsp; $804 | &nbsp;&nbsp; 87 | &nbsp;&nbsp;&nbsp; $(279)<br>| &nbsp;&nbsp; (30)<br>| &nbsp;&nbsp;&nbsp; $695 | &nbsp;&nbsp; 75 |
| Class 1A | &nbsp;&nbsp; 976 | &nbsp;&nbsp; 105 | &nbsp;&nbsp;&nbsp; 121 | &nbsp;&nbsp; 13 | &nbsp;&nbsp;&nbsp; (195)<br>| &nbsp;&nbsp; (21)<br>| &nbsp;&nbsp;&nbsp; 902 | &nbsp;&nbsp; 97 |
| Class 2 | &nbsp;&nbsp; 3228 | &nbsp;&nbsp; 349 | &nbsp;&nbsp;&nbsp; 1928 | &nbsp;&nbsp; 211 | &nbsp;&nbsp;&nbsp; (5636)<br>| &nbsp;&nbsp; (603)<br>| &nbsp;&nbsp;&nbsp; (480)<br>| &nbsp;&nbsp; (43)<br>|
| Class 4 | &nbsp;&nbsp; 18316 | &nbsp;&nbsp; 1981 | &nbsp;&nbsp;&nbsp; 2148 | &nbsp;&nbsp; 239 | &nbsp;&nbsp;&nbsp; (14351)<br>| &nbsp;&nbsp; (1539)<br>| &nbsp;&nbsp;&nbsp; 6113 | &nbsp;&nbsp; 681 |
| Total net increase (decrease) | &nbsp;&nbsp; $22690 | &nbsp;&nbsp; 2453 | &nbsp;&nbsp;&nbsp; $5001 | &nbsp;&nbsp; 550 | &nbsp;&nbsp;&nbsp; $(20461)<br>| &nbsp;&nbsp; (2193)<br>| &nbsp;&nbsp;&nbsp; $7230 | &nbsp;&nbsp; 810 |

---

Refer to the end of the table(s) for footnote(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **349** | American Funds Insurance Series |

---

------

**Ultra-Short Bond Fund** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Sales**<sup>1</sup> | **Sales**<sup>1</sup> | **Reinvestments of** <br>**distributions** | **Reinvestments of** <br>**distributions** | **Repurchases**<sup>1</sup> | **Repurchases**<sup>1</sup> | **Net increase** <br>**(decrease)** | **Net increase** <br>**(decrease)** |
| <br>**Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** |
| Class 1 | $6176 | 542 | &nbsp;&nbsp;&nbsp; $266 | 23 | &nbsp;&nbsp;&nbsp; $(11314)<br>| (993)<br>| &nbsp;&nbsp;&nbsp; $(4872)<br>| (428)<br>|
| Class 1A |  |  | &nbsp;&nbsp;&nbsp; 1 | — <br><sup>2</sup><br>| &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; 1 | — <br><sup>2</sup><br>|
| Class 2 | 32949 | 2991 | &nbsp;&nbsp;&nbsp; 1788 | 162 | &nbsp;&nbsp;&nbsp; (54467)<br>| (4948)<br>| &nbsp;&nbsp;&nbsp; (19730)<br>| (1795)<br>|
| Class 3 | 112 | 10 | &nbsp;&nbsp;&nbsp; 29 | 3 | &nbsp;&nbsp;&nbsp; (392)<br>| (35)<br>| &nbsp;&nbsp;&nbsp; (251)<br>| (22)<br>|
| Class 4 | 43286 | 3915 | &nbsp;&nbsp;&nbsp; 473 | 43 | &nbsp;&nbsp;&nbsp; (37336)<br>| (3358)<br>| &nbsp;&nbsp;&nbsp; 6423 | 600 |
| Total net increase (decrease) | $82523 | 7458 | &nbsp;&nbsp;&nbsp; $2557 | 231 | &nbsp;&nbsp;&nbsp; $(103509)<br>| (9334)<br>| &nbsp;&nbsp;&nbsp; $(18429)<br>| (1645)<br>|
| **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| Class 1 | $16477 | 1429 | &nbsp;&nbsp;&nbsp; $1996 | 176 | &nbsp;&nbsp;&nbsp; $(20160)<br>| (1740)<br>| &nbsp;&nbsp;&nbsp; $(1687)<br>| (135)<br>|
| Class 1A |  |  | &nbsp;&nbsp;&nbsp; 6 | 1 | &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; 6 | 1 |
| Class 2 | 57235 | 5128 | &nbsp;&nbsp;&nbsp; 12858 | 1175 | &nbsp;&nbsp;&nbsp; (97431)<br>| (8724)<br>| &nbsp;&nbsp;&nbsp; (27338)<br>| (2421)<br>|
| Class 3 | 370 | 32 | &nbsp;&nbsp;&nbsp; 204 | 19 | &nbsp;&nbsp;&nbsp; (841)<br>| (74)<br>| &nbsp;&nbsp;&nbsp; (267)<br>| (23)<br>|
| Class 4 | 19303 | 1714 | &nbsp;&nbsp;&nbsp; 2569 | 233 | &nbsp;&nbsp;&nbsp; (26048)<br>| (2325)<br>| &nbsp;&nbsp;&nbsp; (4176)<br>| (378)<br>|
| Total net increase (decrease) | $93385 | 8303 | &nbsp;&nbsp;&nbsp; $17633 | 1604 | &nbsp;&nbsp;&nbsp; $(144480)<br>| (12863)<br>| &nbsp;&nbsp;&nbsp; $(33462)<br>| (2956)<br>|

---

**U.S. Government Securities Fund** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Sales**<sup>1</sup> | **Sales**<sup>1</sup> | **Reinvestments of** <br>**distributions** | **Reinvestments of** <br>**distributions** | **Repurchases**<sup>1</sup> | **Repurchases**<sup>1</sup> | **Net increase** <br>**(decrease)** | **Net increase** <br>**(decrease)** |
| <br>**Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** |
| Class 1 | $44977 | 4581 | &nbsp;&nbsp;&nbsp; $2087 | 213 | &nbsp;&nbsp;&nbsp; $(56128)<br>| (5713)<br>| &nbsp;&nbsp;&nbsp; $(9064)<br>| (919)<br>|
| Class 1A | 15985 | 1654 | &nbsp;&nbsp;&nbsp; 2157 | 222 | &nbsp;&nbsp;&nbsp; (37901)<br>| (3880)<br>| &nbsp;&nbsp;&nbsp; (19759)<br>| (2004)<br>|
| Class 2 | 45477 | 4677 | &nbsp;&nbsp;&nbsp; 8060 | 834 | &nbsp;&nbsp;&nbsp; (115722)<br>| (11932)<br>| &nbsp;&nbsp;&nbsp; (62185)<br>| (6421)<br>|
| Class 3 | 241 | 24 | &nbsp;&nbsp;&nbsp; 41 | 4 | &nbsp;&nbsp;&nbsp; (241)<br>| (24)<br>| &nbsp;&nbsp;&nbsp; 41 | 4 |
| Class 4 | 64712 | 6659 | &nbsp;&nbsp;&nbsp; 1788 | 185 | &nbsp;&nbsp;&nbsp; (48932)<br>| (5051)<br>| &nbsp;&nbsp;&nbsp; 17568 | 1793 |
| Total net increase (decrease) | $171392 | 17595 | &nbsp;&nbsp;&nbsp; $14133 | 1458 | &nbsp;&nbsp;&nbsp; $(258924)<br>| (26600)<br>| &nbsp;&nbsp;&nbsp; $(73399)<br>| (7547)<br>|
| **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| Class 1 | $68973 | 6957 | &nbsp;&nbsp;&nbsp; $10757 | 1108 | &nbsp;&nbsp;&nbsp; $(60235)<br>| (6083)<br>| &nbsp;&nbsp;&nbsp; $19495 | 1982 |
| Class 1A | 283124 | 28940 | &nbsp;&nbsp;&nbsp; 11344 | 1174 | &nbsp;&nbsp;&nbsp; (6503)<br>| (659)<br>| &nbsp;&nbsp;&nbsp; 287965 | 29455 |
| Class 2 | 101793 | 10487 | &nbsp;&nbsp;&nbsp; 42550 | 4440 | &nbsp;&nbsp;&nbsp; (132491)<br>| (13544)<br>| &nbsp;&nbsp;&nbsp; 11852 | 1383 |
| Class 3 | 881 | 89 | &nbsp;&nbsp;&nbsp; 204 | 21 | &nbsp;&nbsp;&nbsp; (1780)<br>| (181)<br>| &nbsp;&nbsp;&nbsp; (695)<br>| (71)<br>|
| Class 4 | 72367 | 7407 | &nbsp;&nbsp;&nbsp; 7920 | 827 | &nbsp;&nbsp;&nbsp; (45157)<br>| (4667)<br>| &nbsp;&nbsp;&nbsp; 35130 | 3567 |
| Total net increase (decrease) | $527138 | 53880 | &nbsp;&nbsp;&nbsp; $72775 | 7570 | &nbsp;&nbsp;&nbsp; $(246166)<br>| (25134)<br>| &nbsp;&nbsp;&nbsp; $353747 | 36316 |

---

**Managed Risk Growth Fund** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Sales** | **Sales** | **Reinvestments of** <br>**distributions** | **Reinvestments of** <br>**distributions** | **Repurchases** | **Repurchases** | **Net increase** <br>**(decrease)** | **Net increase** <br>**(decrease)** |
| <br>**Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** |
| Class P1 | $492 | 38 | &nbsp;&nbsp;&nbsp; $669 | 52 | &nbsp;&nbsp;&nbsp; $(1087)<br>| (82)<br>| &nbsp;&nbsp;&nbsp; $74 | 8 |
| Class P2 | 7709 | 598 | &nbsp;&nbsp;&nbsp; 24083 | 1898 | &nbsp;&nbsp;&nbsp; (41369)<br>| (3152)<br>| &nbsp;&nbsp;&nbsp; (9577)<br>| (656)<br>|
| Total net increase (decrease) | $8201 | 636 | &nbsp;&nbsp;&nbsp; $24752 | 1950 | &nbsp;&nbsp;&nbsp; $(42456)<br>| (3234)<br>| &nbsp;&nbsp;&nbsp; $(9503)<br>| (648)<br>|
| **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| Class P1 | $974 | 79 | &nbsp;&nbsp;&nbsp; $93 | 8 | &nbsp;&nbsp;&nbsp; $(2663)<br>| (220)<br>| &nbsp;&nbsp;&nbsp; $(1596)<br>| (133)<br>|
| Class P2 | 10767 | 875 | &nbsp;&nbsp;&nbsp; 2326 | 197 | &nbsp;&nbsp;&nbsp; (100353)<br>| (8347)<br>| &nbsp;&nbsp;&nbsp; (87260)<br>| (7275)<br>|
| Total net increase (decrease) | $11741 | 954 | &nbsp;&nbsp;&nbsp; $2419 | 205 | &nbsp;&nbsp;&nbsp; $(103016)<br>| (8567)<br>| &nbsp;&nbsp;&nbsp; $(88856)<br>| (7408)<br>|

---

Refer to the end of the table(s) for footnote(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **350** |

---

------

**Managed Risk International Fund** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Sales** | **Sales** | **Reinvestments of** <br>**distributions** | **Reinvestments of** <br>**distributions** | **Repurchases** | **Repurchases** | **Net increase** <br>**(decrease)** | **Net increase** <br>**(decrease)** |
| <br>**Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** |
| Class P1 | &nbsp;&nbsp; $113 | &nbsp;&nbsp; 14 | &nbsp;&nbsp;&nbsp; $30 | &nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp; $(79)<br>| &nbsp;&nbsp; (9)<br>| &nbsp;&nbsp;&nbsp; $64 | &nbsp;&nbsp; 8 |
| Class P2 | &nbsp;&nbsp; 2379 | &nbsp;&nbsp; 291 | &nbsp;&nbsp;&nbsp; 1450 | &nbsp;&nbsp; 178 | &nbsp;&nbsp;&nbsp; (6722)<br>| &nbsp;&nbsp; (818)<br>| &nbsp;&nbsp;&nbsp; (2893)<br>| &nbsp;&nbsp; (349)<br>|
| Total net increase (decrease) | &nbsp;&nbsp; $2492 | &nbsp;&nbsp; 305 | &nbsp;&nbsp;&nbsp; $1480 | &nbsp;&nbsp; 181 | &nbsp;&nbsp;&nbsp; $(6801)<br>| &nbsp;&nbsp; (827)<br>| &nbsp;&nbsp;&nbsp; $(2829)<br>| &nbsp;&nbsp; (341)<br>|
| **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| Class P1 | &nbsp;&nbsp; $146 | &nbsp;&nbsp; 17 | &nbsp;&nbsp;&nbsp; $29 | &nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp; $(232)<br>| &nbsp;&nbsp; (27)<br>| &nbsp;&nbsp;&nbsp; $(57)<br>| &nbsp;&nbsp; (7)<br>|
| Class P2 | &nbsp;&nbsp; 5087 | &nbsp;&nbsp; 599 | &nbsp;&nbsp;&nbsp; 1532 | &nbsp;&nbsp; 174 | &nbsp;&nbsp;&nbsp; (14961)<br>| &nbsp;&nbsp; (1722)<br>| &nbsp;&nbsp;&nbsp; (8342)<br>| &nbsp;&nbsp; (949)<br>|
| Total net increase (decrease) | &nbsp;&nbsp; $5233 | &nbsp;&nbsp; 616 | &nbsp;&nbsp;&nbsp; $1561 | &nbsp;&nbsp; 177 | &nbsp;&nbsp;&nbsp; $(15193)<br>| &nbsp;&nbsp; (1749)<br>| &nbsp;&nbsp;&nbsp; $(8399)<br>| &nbsp;&nbsp; (956)<br>|

---

**Managed Risk Washington Mutual Investors Fund** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Sales** | **Sales** | **Reinvestments of** <br>**distributions** | **Reinvestments of** <br>**distributions** | **Repurchases** | **Repurchases** | **Net increase** <br>**(decrease)** | **Net increase** <br>**(decrease)** |
| <br>**Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** |
| Class P1 | &nbsp;&nbsp; $73 | &nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp; $40 | &nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp; $(184)<br>| &nbsp;&nbsp; (15)<br>| &nbsp;&nbsp;&nbsp; $(71)<br>| &nbsp;&nbsp; (6)<br>|
| Class P2 | &nbsp;&nbsp; 2835 | &nbsp;&nbsp; 241 | &nbsp;&nbsp;&nbsp; 4640 | &nbsp;&nbsp; 398 | &nbsp;&nbsp;&nbsp; (20378)<br>| &nbsp;&nbsp; (1735)<br>| &nbsp;&nbsp;&nbsp; (12903)<br>| &nbsp;&nbsp; (1096)<br>|
| Total net increase (decrease) | &nbsp;&nbsp; $2908 | &nbsp;&nbsp; 247 | &nbsp;&nbsp;&nbsp; $4680 | &nbsp;&nbsp; 401 | &nbsp;&nbsp;&nbsp; $(20562)<br>| &nbsp;&nbsp; (1750)<br>| &nbsp;&nbsp;&nbsp; $(12974)<br>| &nbsp;&nbsp; (1102)<br>|
| **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| Class P1 | &nbsp;&nbsp; $290 | &nbsp;&nbsp; 26 | &nbsp;&nbsp;&nbsp; $53 | &nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp; $(607)<br>| &nbsp;&nbsp; (54)<br>| &nbsp;&nbsp;&nbsp; $(264)<br>| &nbsp;&nbsp; (23)<br>|
| Class P2 | &nbsp;&nbsp; 6900 | &nbsp;&nbsp; 617 | &nbsp;&nbsp;&nbsp; 5422 | &nbsp;&nbsp; 490 | &nbsp;&nbsp;&nbsp; (51492)<br>| &nbsp;&nbsp; (4594)<br>| &nbsp;&nbsp;&nbsp; (39170)<br>| &nbsp;&nbsp; (3487)<br>|
| Total net increase (decrease) | &nbsp;&nbsp; $7190 | &nbsp;&nbsp; 643 | &nbsp;&nbsp;&nbsp; $5475 | &nbsp;&nbsp; 495 | &nbsp;&nbsp;&nbsp; $(52099)<br>| &nbsp;&nbsp; (4648)<br>| &nbsp;&nbsp;&nbsp; $(39434)<br>| &nbsp;&nbsp; (3510)<br>|

---

**Managed Risk Growth-Income Fund** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Sales** | **Sales** | **Reinvestments of** <br>**distributions** | **Reinvestments of** <br>**distributions** | **Repurchases** | **Repurchases** | **Net increase** <br>**(decrease)** | **Net increase** <br>**(decrease)** |
| <br>**Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** |
| Class P1 | $22938 | 1634 | &nbsp;&nbsp;&nbsp; $95748 | 7025 | &nbsp;&nbsp;&nbsp; $(138781)<br>| (9811)<br>| &nbsp;&nbsp;&nbsp; $(20095)<br>| (1152)<br>|
| Class P2 | 2032 | 146 | &nbsp;&nbsp;&nbsp; 13810 | 1021 | &nbsp;&nbsp;&nbsp; (18320)<br>| (1305)<br>| &nbsp;&nbsp;&nbsp; (2478)<br>| (138)<br>|
| Total net increase (decrease) | $24970 | 1780 | &nbsp;&nbsp;&nbsp; $109558 | 8046 | &nbsp;&nbsp;&nbsp; $(157101)<br>| (11116)<br>| &nbsp;&nbsp;&nbsp; $(22573)<br>| (1290)<br>|
| **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| Class P1 | $16125 | 1168 | &nbsp;&nbsp;&nbsp; $58164 | 4309 | &nbsp;&nbsp;&nbsp; $(346171)<br>| (25246)<br>| &nbsp;&nbsp;&nbsp; $(271882)<br>| (19769)<br>|
| Class P2 | 4069 | 297 | &nbsp;&nbsp;&nbsp; 7744 | 582 | &nbsp;&nbsp;&nbsp; (53124)<br>| (3920)<br>| &nbsp;&nbsp;&nbsp; (41311)<br>| (3041)<br>|
| Total net increase (decrease) | $20194 | 1465 | &nbsp;&nbsp;&nbsp; $65908 | 4891 | &nbsp;&nbsp;&nbsp; $(399295)<br>| (29166)<br>| &nbsp;&nbsp;&nbsp; $(313193)<br>| (22810)<br>|

---

Refer to the end of the table(s) for footnote(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **351** | American Funds Insurance Series |

---

------

**Managed Risk Asset Allocation Fund** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Sales** | **Sales** | **Reinvestments of** <br>**distributions** | **Reinvestments of** <br>**distributions** | **Repurchases** | **Repurchases** | **Net increase** <br>**(decrease)** | **Net increase** <br>**(decrease)** |
| <br>**Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** |
| Class P1 | $12 | 1 | &nbsp;&nbsp;&nbsp; $930 | 75 | &nbsp;&nbsp;&nbsp; $(185)<br>| (14)<br>| &nbsp;&nbsp;&nbsp; $757 | 62 |
| Class P2 | 9933 | 798 | &nbsp;&nbsp;&nbsp; 155155 | 13016 | &nbsp;&nbsp;&nbsp; (171239)<br>| (13497)<br>| &nbsp;&nbsp;&nbsp; (6151)<br>| 317 |
| Total net increase (decrease) | $9945 | 799 | &nbsp;&nbsp;&nbsp; $156085 | 13091 | &nbsp;&nbsp;&nbsp; $(171424)<br>| (13511)<br>| &nbsp;&nbsp;&nbsp; $(5394)<br>| 379 |
| **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| Class P1 | $1509 | 116 | &nbsp;&nbsp;&nbsp; $365 | 29 | &nbsp;&nbsp;&nbsp; $(1325)<br>| (108)<br>| &nbsp;&nbsp;&nbsp; $549 | 37 |
| Class P2 | 32478 | 2619 | &nbsp;&nbsp;&nbsp; 68762 | 5709 | &nbsp;&nbsp;&nbsp; (396241)<br>| (32260)<br>| &nbsp;&nbsp;&nbsp; (295001)<br>| (23932)<br>|
| Total net increase (decrease) | $33987 | 2735 | &nbsp;&nbsp;&nbsp; $69127 | 5738 | &nbsp;&nbsp;&nbsp; $(397566)<br>| (32368)<br>| &nbsp;&nbsp;&nbsp; $(294452)<br>| (23895)<br>|

---

<sup>1</sup>

Includes exchanges between share classes of the fund.

<sup>2</sup>

Amount less than one thousand.

<sup>3</sup>

Commencement of operations.

**11. Investment transactions and other disclosures**

------

The following tables present additional information for each fund for the six months ended June 30, 2025 (dollars in thousands):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Global** <br>**Growth** <br>**Fund**<br>| **Global** <br>**Small** <br>**Capitalization** <br>**Fund**<br>| **Growth** <br>**Fund**<br>| **International** <br>**Fund**<br>| **New** <br>**World** <br>**Fund**<br>| **Washington** <br>**Mutual** <br>**Investors** <br>**Fund**<br>|
| Purchases of investment securities\* | &nbsp;&nbsp; $1179396 | &nbsp;&nbsp; $757557 | &nbsp;&nbsp; $6385618 | &nbsp;&nbsp; $2780244 | &nbsp;&nbsp; $785414 | &nbsp;&nbsp; $1990904 |
| Sales of investment securities\* | &nbsp;&nbsp; 1347163 | &nbsp;&nbsp; 939607 | &nbsp;&nbsp; 7875256 | &nbsp;&nbsp; 2957157 | &nbsp;&nbsp; 998449 | &nbsp;&nbsp; 2405834 |
| Non-U.S. taxes paid on dividend income | &nbsp;&nbsp; 3677 | &nbsp;&nbsp; 1787 | &nbsp;&nbsp; 3183 | &nbsp;&nbsp; 8711 | &nbsp;&nbsp; 3916 | &nbsp;&nbsp; 784 |
| Non-U.S. taxes (refunded) paid on interest <br> income<br>| &nbsp;&nbsp; 13 | &nbsp;&nbsp; (4)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 36 | &nbsp;&nbsp; — |
| Non-U.S. taxes refunded (paid) on realized <br> gains<br>| &nbsp;&nbsp; (829)<br>| &nbsp;&nbsp; 2490 | &nbsp;&nbsp; — | &nbsp;&nbsp; 10524 | &nbsp;&nbsp; 2970 | &nbsp;&nbsp; — |
| Non-U.S. taxes provided on unrealized <br> appreciation<br>| &nbsp;&nbsp; 5299 | &nbsp;&nbsp; 17693 | &nbsp;&nbsp; — | &nbsp;&nbsp; 28246 | &nbsp;&nbsp; 21733 | &nbsp;&nbsp; — |
| Interest income from affiliated issuers | &nbsp;&nbsp; 5913 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **U.S. Small** <br> **and Mid** <br>**Cap Equity** <br> **Fund**<br>| **Capital** <br>**World** <br> **Growth** <br>**and Income** <br>**Fund**<br>| **Growth-** <br>**Income** <br>**Fund**<br>| **International** <br>**Growth** <br>**and Income** <br>**Fund**<br>| **Capital** <br>**Income** <br>**Builder**<br>| <br>**Asset** <br>**Allocation** <br>**Fund**<br>|
| Purchases of investment securities\* | &nbsp;&nbsp; $3209 | &nbsp;&nbsp; $479965 | &nbsp;&nbsp; $7133302 | &nbsp;&nbsp; $99185 | &nbsp;&nbsp; $393384 | &nbsp;&nbsp; $11283114 |
| Sales of investment securities\* | &nbsp;&nbsp; 3287 | &nbsp;&nbsp; 609901 | &nbsp;&nbsp; 8577738 | &nbsp;&nbsp; 91723 | &nbsp;&nbsp; 425205 | &nbsp;&nbsp; 12909245 |
| Non-U.S. taxes paid on dividend income | &nbsp;&nbsp; — | &nbsp;&nbsp; 1359 | &nbsp;&nbsp; 3376 | &nbsp;&nbsp; 576 | &nbsp;&nbsp; 1461 | &nbsp;&nbsp; 2655 |
| Non-U.S. taxes paid on realized gains | &nbsp;&nbsp; — | &nbsp;&nbsp; 170 | &nbsp;&nbsp; — | &nbsp;&nbsp; 11 | &nbsp;&nbsp; 26 | &nbsp;&nbsp; — |
| Non-U.S. taxes provided on unrealized <br> appreciation<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; 735 | &nbsp;&nbsp; — | &nbsp;&nbsp; 253 | &nbsp;&nbsp; 590 | &nbsp;&nbsp; — |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Refer to the end of the table(s) for footnote(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **352** |

---

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **American** <br>**Funds** <br>**Global** <br>**Balanced** <br>**Fund**<br>| **The Bond** <br> **Fund** <br>**of America**<br>| **Capital** <br>**World Bond** <br>**Fund**<br>| **American** <br>**High-Income** <br>**Trust**<br>| **American** <br> **Funds** <br>**Mortgage** <br> **Fund**<br>| **Ultra-Short** <br>**Bond** <br>**Fund**<br>|
| Purchases of investment securities\* | &nbsp;&nbsp; $172059 | &nbsp;&nbsp; $7186261 | &nbsp;&nbsp; $824354 | &nbsp;&nbsp; $216134 | &nbsp;&nbsp; $240611 | &nbsp;&nbsp; $— |
| Sales of investment securities\* | &nbsp;&nbsp; 186597 | &nbsp;&nbsp; 7700521 | &nbsp;&nbsp; 863783 | &nbsp;&nbsp; 157435 | &nbsp;&nbsp; 230976 | &nbsp;&nbsp; — |
| Non-U.S. taxes paid on dividend income | &nbsp;&nbsp; 241 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (9)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Non-U.S. taxes paid on interest income | &nbsp;&nbsp; — <br><sup>†</sup><br>| &nbsp;&nbsp; 8 | &nbsp;&nbsp; 42 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Non-U.S. taxes paid on realized gains | &nbsp;&nbsp; 42 | &nbsp;&nbsp; — | &nbsp;&nbsp; 427 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Non-U.S. taxes provided on unrealized <br> appreciation<br>| &nbsp;&nbsp; 181 | &nbsp;&nbsp; — | &nbsp;&nbsp; 133 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **U.S.** <br>**Government** <br>**Securities** <br>**Fund**<br>| **Managed** <br>**Risk** <br>**Growth** <br>**Fund**<br>| **Managed** <br>**Risk** <br>**International** <br>**Fund**<br>| **Managed** <br> **Risk** <br>**Washington** <br>**Mutual** <br>**Investors** <br>**Fund**<br>| **Managed** <br>**Risk** <br>**Growth-** <br>**Income** <br>**Fund**<br>| **Managed** <br>**Risk** <br>**Asset** <br>**Allocation** <br>**Fund**<br>|
| Purchases of investment securities\* | &nbsp;&nbsp; $2190673 | &nbsp;&nbsp; $140971 | &nbsp;&nbsp; $12970 | &nbsp;&nbsp; $52478 | &nbsp;&nbsp; $491790 | &nbsp;&nbsp; $243681 |
| Sales of investment securities\* | &nbsp;&nbsp; 2371368 | &nbsp;&nbsp; 156432 | &nbsp;&nbsp; 24362 | &nbsp;&nbsp; 62127 | &nbsp;&nbsp; 404203 | &nbsp;&nbsp; 317008 |

---

\*

Excludes short-term securities and U.S. government obligations, if any.

<sup>†</sup>

Amount less than one thousand.

**12. Ownership concentration**

------

At June 30, 2025, American Funds Insurance Series - Portfolio Series - Managed Risk Growth and Income Portfolio held 17% and 13% of the outstanding shares of American Funds Insurance Series - Capital World Growth and Income Fund and American Funds Insurance Series - Capital Income Builder, respectively. Furthermore, American Funds Insurance Series - Portfolio Series - Managed Risk Global Allocation Portfolio held 17% of the outstanding shares of American Funds Insurance Series - American Funds Global Balanced Fund.

In addition, CRMC held aggregate ownership of 99% of the outstanding shares of American Funds Insurance Series - U.S. Small and Mid Cap Equity Fund. The ownership percentage represents the seed money invested in the fund when it began operations. American Funds Insurance Series - U.S. Small and Mid Cap Equity Fund began operations on November 15, 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **353** | American Funds Insurance Series |

---

------

Financial highlights

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | **Net asset** <br>**value,** <br>**end** <br>**of year** | **Total return**<sup>2</sup>  | **Net assets,** <br>**end of year** <br>**(in millions)** | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets before** <br>**waivers/** <br>**reimbursements**<sup>3</sup>  | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets after** <br>**waivers/** <br>**reimbursements**<sup>2,3</sup>  | **Ratio of** <br>**net income** <br>**(loss)** <br>**to average** <br>**net assets**<sup>2</sup>  |
| **Year ended**  | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Net** <br>**investment** <br>**income** <br>**(loss)**<br>| **Net gains** <br>**(losses) on** <br>**securities** <br>**(both** <br>**realized and** <br>**unrealized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**(from net** <br>**investment** <br>**income)**<br>| **Distributions** <br>**(from capital** <br>**gains)**<br>| **Total** <br>**dividends** <br>**and** <br>**distributions**<br>| **Net asset** <br>**value,** <br>**end** <br>**of year** | **Total return**<sup>2</sup>  | **Net assets,** <br>**end of year** <br>**(in millions)** | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets before** <br>**waivers/** <br>**reimbursements**<sup>3</sup>  | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets after** <br>**waivers/** <br>**reimbursements**<sup>2,3</sup>  | **Ratio of** <br>**net income** <br>**(loss)** <br>**to average** <br>**net assets**<sup>2</sup>  |
| **Global Growth Fund** | **Global Growth Fund** | **Global Growth Fund** | **Global Growth Fund** | **Global Growth Fund** | **Global Growth Fund** | **Global Growth Fund** | **Global Growth Fund** | **Global Growth Fund** | **Global Growth Fund** | **Global Growth Fund** | **Global Growth Fund** | **Global Growth Fund** | **Global Growth Fund** |
| **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  |
| 6/30/2025<sup>4,5</sup> <br>| $36.91 | &nbsp;&nbsp; $.29 | &nbsp;&nbsp; $3.65 | &nbsp;&nbsp; $3.94 | &nbsp;&nbsp; $(.14)<br>| &nbsp;&nbsp; $(4.88)<br>| &nbsp;&nbsp; $(5.02)<br>| &nbsp;&nbsp; $35.83 | 11.33 %<sup>6</sup><br>| &nbsp;&nbsp; $3826 | &nbsp;&nbsp; .52 %<sup>7</sup><br>| &nbsp;&nbsp; .41 %<sup>7</sup><br>| 1.58 %<sup>7</sup><br>|
| 12/31/2024 | 33.92 | &nbsp;&nbsp; .44 | 4.29 | 4.73 | &nbsp;&nbsp; (.67)<br>| &nbsp;&nbsp; (1.07)<br>| &nbsp;&nbsp; (1.74)<br>| 36.91 | 13.94 | &nbsp;&nbsp; 3589 | &nbsp;&nbsp; .52 | &nbsp;&nbsp; .41 | 1.20 |
| 12/31/2023 | 30.18 | &nbsp;&nbsp; .36 | 6.30 | 6.66 | &nbsp;&nbsp; (.37)<br>| &nbsp;&nbsp; (2.55)<br>| &nbsp;&nbsp; (2.92)<br>| 33.92 | 22.91 | &nbsp;&nbsp; 3418 | &nbsp;&nbsp; .52 | &nbsp;&nbsp; .41 | 1.13 |
| 12/31/2022 | 45.46 | &nbsp;&nbsp; .34 | &nbsp;&nbsp; (11.34)<br>| &nbsp;&nbsp; (11.00)<br>| &nbsp;&nbsp; (.31)<br>| &nbsp;&nbsp; (3.97)<br>| &nbsp;&nbsp; (4.28)<br>| 30.18 | &nbsp;&nbsp; (24.54)<br>| &nbsp;&nbsp; 3104 | &nbsp;&nbsp; .53 | &nbsp;&nbsp; .46 | 1.01 |
| 12/31/2021 | 41.16 | &nbsp;&nbsp; .25 | 6.48 | 6.73 | &nbsp;&nbsp; (.26)<br>| &nbsp;&nbsp; (2.17)<br>| &nbsp;&nbsp; (2.43)<br>| 45.46 | 16.72 | &nbsp;&nbsp; 4270 | &nbsp;&nbsp; .55 | &nbsp;&nbsp; .54 | &nbsp;&nbsp; .56 |
| 12/31/2020 | 32.57 | &nbsp;&nbsp; .20 | 9.56 | 9.76 | &nbsp;&nbsp; (.21)<br>| &nbsp;&nbsp; (.96)<br>| &nbsp;&nbsp; (1.17)<br>| 41.16 | 30.79 | &nbsp;&nbsp; 3309 | &nbsp;&nbsp; .56 | &nbsp;&nbsp; .56 | &nbsp;&nbsp; .59 |
| **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  |
| 6/30/2025<sup>4,5</sup> <br>| 36.70 | &nbsp;&nbsp; .24 | 3.62 | 3.86 | &nbsp;&nbsp; (.12)<br>| &nbsp;&nbsp; (4.88)<br>| &nbsp;&nbsp; (5.00)<br>| 35.56 | 11.19 <br><sup>6</sup><br>| &nbsp;&nbsp; 24 | &nbsp;&nbsp; .77 <br><sup>7</sup><br>| &nbsp;&nbsp; .66 <br><sup>7</sup><br>| 1.34 <br><sup>7</sup><br>|
| 12/31/2024 | 33.74 | &nbsp;&nbsp; .35 | 4.26 | 4.61 | &nbsp;&nbsp; (.58)<br>| &nbsp;&nbsp; (1.07)<br>| &nbsp;&nbsp; (1.65)<br>| 36.70 | 13.67 | &nbsp;&nbsp; 20 | &nbsp;&nbsp; .77 | &nbsp;&nbsp; .66 | &nbsp;&nbsp; .95 |
| 12/31/2023 | 30.04 | &nbsp;&nbsp; .28 | 6.26 | 6.54 | &nbsp;&nbsp; (.29)<br>| &nbsp;&nbsp; (2.55)<br>| &nbsp;&nbsp; (2.84)<br>| 33.74 | 22.60 | &nbsp;&nbsp; 18 | &nbsp;&nbsp; .77 | &nbsp;&nbsp; .66 | &nbsp;&nbsp; .88 |
| 12/31/2022 | 45.28 | &nbsp;&nbsp; .26 | &nbsp;&nbsp; (11.31)<br>| &nbsp;&nbsp; (11.05)<br>| &nbsp;&nbsp; (.22)<br>| &nbsp;&nbsp; (3.97)<br>| &nbsp;&nbsp; (4.19)<br>| 30.04 | &nbsp;&nbsp; (24.73)<br>| &nbsp;&nbsp; 14 | &nbsp;&nbsp; .78 | &nbsp;&nbsp; .71 | &nbsp;&nbsp; .78 |
| 12/31/2021 | 41.02 | &nbsp;&nbsp; .14 | 6.46 | 6.60 | &nbsp;&nbsp; (.17)<br>| &nbsp;&nbsp; (2.17)<br>| &nbsp;&nbsp; (2.34)<br>| 45.28 | 16.45 | &nbsp;&nbsp; 18 | &nbsp;&nbsp; .80 | &nbsp;&nbsp; .79 | &nbsp;&nbsp; .33 |
| 12/31/2020 | 32.47 | &nbsp;&nbsp; .12 | 9.52 | 9.64 | &nbsp;&nbsp; (.13)<br>| &nbsp;&nbsp; (.96)<br>| &nbsp;&nbsp; (1.09)<br>| 41.02 | 30.49 | &nbsp;&nbsp; 12 | &nbsp;&nbsp; .81 | &nbsp;&nbsp; .81 | &nbsp;&nbsp; .34 |
| **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  |
| 6/30/2025<sup>4,5</sup> <br>| 36.37 | &nbsp;&nbsp; .24 | 3.58 | 3.82 | &nbsp;&nbsp; (.12)<br>| &nbsp;&nbsp; (4.88)<br>| &nbsp;&nbsp; (5.00)<br>| 35.19 | 11.17 <br><sup>6</sup><br>| &nbsp;&nbsp; 3658 | &nbsp;&nbsp; .77 <br><sup>7</sup><br>| &nbsp;&nbsp; .66 <br><sup>7</sup><br>| 1.32 <br><sup>7</sup><br>|
| 12/31/2024 | 33.44 | &nbsp;&nbsp; .35 | 4.22 | 4.57 | &nbsp;&nbsp; (.57)<br>| &nbsp;&nbsp; (1.07)<br>| &nbsp;&nbsp; (1.64)<br>| 36.37 | 13.68 | &nbsp;&nbsp; 3512 | &nbsp;&nbsp; .77 | &nbsp;&nbsp; .66 | &nbsp;&nbsp; .95 |
| 12/31/2023 | 29.79 | &nbsp;&nbsp; .28 | 6.21 | 6.49 | &nbsp;&nbsp; (.29)<br>| &nbsp;&nbsp; (2.55)<br>| &nbsp;&nbsp; (2.84)<br>| 33.44 | 22.60 | &nbsp;&nbsp; 3522 | &nbsp;&nbsp; .77 | &nbsp;&nbsp; .66 | &nbsp;&nbsp; .88 |
| 12/31/2022 | 44.94 | &nbsp;&nbsp; .25 | &nbsp;&nbsp; (11.21)<br>| &nbsp;&nbsp; (10.96)<br>| &nbsp;&nbsp; (.22)<br>| &nbsp;&nbsp; (3.97)<br>| &nbsp;&nbsp; (4.19)<br>| 29.79 | &nbsp;&nbsp; (24.74)<br>| &nbsp;&nbsp; 3234 | &nbsp;&nbsp; .78 | &nbsp;&nbsp; .71 | &nbsp;&nbsp; .76 |
| 12/31/2021 | 40.72 | &nbsp;&nbsp; .13 | 6.41 | 6.54 | &nbsp;&nbsp; (.15)<br>| &nbsp;&nbsp; (2.17)<br>| &nbsp;&nbsp; (2.32)<br>| 44.94 | 16.42 | &nbsp;&nbsp; 4559 | &nbsp;&nbsp; .80 | &nbsp;&nbsp; .80 | &nbsp;&nbsp; .30 |
| 12/31/2020 | 32.24 | &nbsp;&nbsp; .12 | 9.44 | 9.56 | &nbsp;&nbsp; (.12)<br>| &nbsp;&nbsp; (.96)<br>| &nbsp;&nbsp; (1.08)<br>| 40.72 | 30.47 | &nbsp;&nbsp; 4387 | &nbsp;&nbsp; .81 | &nbsp;&nbsp; .81 | &nbsp;&nbsp; .34 |
| **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  |
| 6/30/2025<sup>4,5</sup> <br>| 35.93 | &nbsp;&nbsp; .19 | 3.54 | 3.73 | &nbsp;&nbsp; (.11)<br>| &nbsp;&nbsp; (4.88)<br>| &nbsp;&nbsp; (4.99)<br>| 34.67 | 11.05 <br><sup>6</sup><br>| &nbsp;&nbsp; 1083 | 1.02 <br><sup>7</sup><br>| &nbsp;&nbsp; .91 <br><sup>7</sup><br>| 1.10 <br><sup>7</sup><br>|
| 12/31/2024 | 33.08 | &nbsp;&nbsp; .25 | 4.18 | 4.43 | &nbsp;&nbsp; (.51)<br>| &nbsp;&nbsp; (1.07)<br>| &nbsp;&nbsp; (1.58)<br>| 35.93 | 13.39 | &nbsp;&nbsp; 937 | 1.02 | &nbsp;&nbsp; .91 | &nbsp;&nbsp; .69 |
| 12/31/2023 | 29.51 | &nbsp;&nbsp; .20 | 6.14 | 6.34 | &nbsp;&nbsp; (.22)<br>| &nbsp;&nbsp; (2.55)<br>| &nbsp;&nbsp; (2.77)<br>| 33.08 | 22.29 | &nbsp;&nbsp; 732 | 1.02 | &nbsp;&nbsp; .91 | &nbsp;&nbsp; .63 |
| 12/31/2022 | 44.57 | &nbsp;&nbsp; .17 | &nbsp;&nbsp; (11.12)<br>| &nbsp;&nbsp; (10.95)<br>| &nbsp;&nbsp; (.14)<br>| &nbsp;&nbsp; (3.97)<br>| &nbsp;&nbsp; (4.11)<br>| 29.51 | &nbsp;&nbsp; (24.92)<br>| &nbsp;&nbsp; 584 | 1.03 | &nbsp;&nbsp; .96 | &nbsp;&nbsp; .52 |
| 12/31/2021 | 40.45 | &nbsp;&nbsp; .03 | 6.35 | 6.38 | &nbsp;&nbsp; (.09)<br>| &nbsp;&nbsp; (2.17)<br>| &nbsp;&nbsp; (2.26)<br>| 44.57 | 16.14 | &nbsp;&nbsp; 744 | 1.05 | 1.04 | &nbsp;&nbsp; .07 |
| 12/31/2020 | 32.05 | &nbsp;&nbsp; .03 | 9.38 | 9.41 | &nbsp;&nbsp; (.05)<br>| &nbsp;&nbsp; (.96)<br>| &nbsp;&nbsp; (1.01)<br>| 40.45 | 30.17 | &nbsp;&nbsp; 533 | 1.06 | 1.06 | &nbsp;&nbsp; .09 |

---

Refer to the end of the table(s) for footnote(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **354** |

---

------

Financial highlights (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | **Net asset** <br>**value,** <br>**end** <br>**of year** | **Total return**<sup>2</sup>  | **Net assets,** <br>**end of year** <br>**(in millions)** | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets before** <br>**waivers/** <br>**reimbursements**<sup>3</sup>  | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets after** <br>**waivers/** <br>**reimbursements**<sup>2,3</sup>  | **Ratio of** <br>**net income** <br>**(loss)** <br>**to average** <br>**net assets**<sup>2</sup>  |
| **Year ended**  | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Net** <br>**investment** <br>**income** <br>**(loss)**<br>| **Net gains** <br>**(losses) on** <br>**securities** <br>**(both** <br>**realized and** <br>**unrealized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**(from net** <br>**investment** <br>**income)**<br>| **Distributions** <br>**(from capital** <br>**gains)**<br>| **Total** <br>**dividends** <br>**and** <br>**distributions**<br>| **Net asset** <br>**value,** <br>**end** <br>**of year** | **Total return**<sup>2</sup>  | **Net assets,** <br>**end of year** <br>**(in millions)** | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets before** <br>**waivers/** <br>**reimbursements**<sup>3</sup>  | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets after** <br>**waivers/** <br>**reimbursements**<sup>2,3</sup>  | **Ratio of** <br>**net income** <br>**(loss)** <br>**to average** <br>**net assets**<sup>2</sup>  |
| **Global Small Capitalization Fund** | **Global Small Capitalization Fund** | **Global Small Capitalization Fund** | **Global Small Capitalization Fund** | **Global Small Capitalization Fund** | **Global Small Capitalization Fund** | **Global Small Capitalization Fund** | **Global Small Capitalization Fund** | **Global Small Capitalization Fund** | **Global Small Capitalization Fund** | **Global Small Capitalization Fund** | **Global Small Capitalization Fund** | **Global Small Capitalization Fund** | **Global Small Capitalization Fund** |
| **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  |
| 6/30/2025<sup>4,5</sup> <br>| $18.15 | &nbsp;&nbsp; $.10 | &nbsp;&nbsp; $1.35 | &nbsp;&nbsp; $1.45 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(.40)<br>| &nbsp;&nbsp; $(.40)<br>| &nbsp;&nbsp; $19.20 | 8.08 %<sup>6</sup><br>| &nbsp;&nbsp; $885 | &nbsp;&nbsp; .70 %<sup>7</sup><br>| &nbsp;&nbsp; .65 %<sup>7</sup><br>| 1.11 %<sup>7</sup><br>|
| 12/31/2024 | 18.57 | &nbsp;&nbsp; .12 | &nbsp;&nbsp; .34 | &nbsp;&nbsp; .46 | &nbsp;&nbsp; (.23)<br>| &nbsp;&nbsp; (.65)<br>| &nbsp;&nbsp; (.88)<br>| 18.15 | 2.59 | &nbsp;&nbsp; 942 | &nbsp;&nbsp; .70 | &nbsp;&nbsp; .67 | &nbsp;&nbsp; .66 |
| 12/31/2023 | 16.22 | &nbsp;&nbsp; .11 | 2.53 | 2.64 | &nbsp;&nbsp; (.08)<br>| &nbsp;&nbsp; (.21)<br>| &nbsp;&nbsp; (.29)<br>| 18.57 | 16.45 | &nbsp;&nbsp; 1001 | &nbsp;&nbsp; .70 | &nbsp;&nbsp; .65 | &nbsp;&nbsp; .63 |
| 12/31/2022 | 34.17 | &nbsp;&nbsp; .05 | &nbsp;&nbsp; (9.50)<br>| &nbsp;&nbsp; (9.45)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (8.50)<br>| &nbsp;&nbsp; (8.50)<br>| 16.22 | &nbsp;&nbsp; (29.37)<br>| &nbsp;&nbsp; 916 | &nbsp;&nbsp; .72 | &nbsp;&nbsp; .69 | &nbsp;&nbsp; .24 |
| 12/31/2021 | 32.64 | &nbsp;&nbsp; (.02)<br>| 2.32 | 2.30 | &nbsp;&nbsp; — | &nbsp;&nbsp; (.77)<br>| &nbsp;&nbsp; (.77)<br>| 34.17 | 6.98 | &nbsp;&nbsp; 1707 | &nbsp;&nbsp; .74 | &nbsp;&nbsp; .74 | &nbsp;&nbsp; (.07)<br>|
| 12/31/2020 | 26.80 | &nbsp;&nbsp; (.01)<br>| 7.49 | 7.48 | &nbsp;&nbsp; (.05)<br>| &nbsp;&nbsp; (1.59)<br>| &nbsp;&nbsp; (1.64)<br>| 32.64 | 30.04 | &nbsp;&nbsp; 2391 | &nbsp;&nbsp; .75 | &nbsp;&nbsp; .75 | &nbsp;&nbsp; (.06)<br>|
| **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  |
| 6/30/2025<sup>4,5</sup> <br>| 17.88 | &nbsp;&nbsp; .08 | 1.33 | 1.41 | &nbsp;&nbsp; — | &nbsp;&nbsp; (.40)<br>| &nbsp;&nbsp; (.40)<br>| 18.89 | 7.98 <br><sup>6</sup><br>| &nbsp;&nbsp; 6 | &nbsp;&nbsp; .95 <br><sup>7</sup><br>| &nbsp;&nbsp; .90 <br><sup>7</sup><br>| &nbsp;&nbsp; .87 <br><sup>7</sup><br>|
| 12/31/2024 | 18.31 | &nbsp;&nbsp; .07 | &nbsp;&nbsp; .34 | &nbsp;&nbsp; .41 | &nbsp;&nbsp; (.19)<br>| &nbsp;&nbsp; (.65)<br>| &nbsp;&nbsp; (.84)<br>| 17.88 | 2.34 | &nbsp;&nbsp; 5 | &nbsp;&nbsp; .95 | &nbsp;&nbsp; .92 | &nbsp;&nbsp; .40 |
| 12/31/2023 | 16.00 | &nbsp;&nbsp; .06 | 2.50 | 2.56 | &nbsp;&nbsp; (.04)<br>| &nbsp;&nbsp; (.21)<br>| &nbsp;&nbsp; (.25)<br>| 18.31 | 16.15 | &nbsp;&nbsp; 5 | &nbsp;&nbsp; .95 | &nbsp;&nbsp; .90 | &nbsp;&nbsp; .38 |
| 12/31/2022 | 33.93 | &nbsp;&nbsp; — <br><sup>8</sup><br>| &nbsp;&nbsp; (9.43)<br>| &nbsp;&nbsp; (9.43)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (8.50)<br>| &nbsp;&nbsp; (8.50)<br>| 16.00 | &nbsp;&nbsp; (29.54)<br>| &nbsp;&nbsp; 4 | &nbsp;&nbsp; .97 | &nbsp;&nbsp; .94 | &nbsp;&nbsp; — <br><sup>9</sup><br>|
| 12/31/2021 | 32.49 | &nbsp;&nbsp; (.07)<br>| 2.28 | 2.21 | &nbsp;&nbsp; — | &nbsp;&nbsp; (.77)<br>| &nbsp;&nbsp; (.77)<br>| 33.93 | 6.73 | &nbsp;&nbsp; 5 | &nbsp;&nbsp; .99 | &nbsp;&nbsp; .99 | &nbsp;&nbsp; (.21)<br>|
| 12/31/2020 | 26.74 | &nbsp;&nbsp; (.09)<br>| 7.48 | 7.39 | &nbsp;&nbsp; (.05)<br>| &nbsp;&nbsp; (1.59)<br>| &nbsp;&nbsp; (1.64)<br>| 32.49 | 29.72 | &nbsp;&nbsp; 1 | &nbsp;&nbsp; .99 | &nbsp;&nbsp; .99 | &nbsp;&nbsp; (.33)<br>|
| **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  |
| 6/30/2025<sup>4,5</sup> <br>| 17.05 | &nbsp;&nbsp; .07 | 1.27 | 1.34 | &nbsp;&nbsp; — | &nbsp;&nbsp; (.40)<br>| &nbsp;&nbsp; (.40)<br>| 17.99 | 7.96 <br><sup>6</sup><br>| &nbsp;&nbsp; 1785 | &nbsp;&nbsp; .95 <br><sup>7</sup><br>| &nbsp;&nbsp; .90 <br><sup>7</sup><br>| &nbsp;&nbsp; .86 <br><sup>7</sup><br>|
| 12/31/2024 | 17.50 | &nbsp;&nbsp; .07 | &nbsp;&nbsp; .32 | &nbsp;&nbsp; .39 | &nbsp;&nbsp; (.19)<br>| &nbsp;&nbsp; (.65)<br>| &nbsp;&nbsp; (.84)<br>| 17.05 | 2.33 | &nbsp;&nbsp; 1733 | &nbsp;&nbsp; .95 | &nbsp;&nbsp; .92 | &nbsp;&nbsp; .41 |
| 12/31/2023 | 15.30 | &nbsp;&nbsp; .06 | 2.39 | 2.45 | &nbsp;&nbsp; (.04)<br>| &nbsp;&nbsp; (.21)<br>| &nbsp;&nbsp; (.25)<br>| 17.50 | 16.17 | &nbsp;&nbsp; 1879 | &nbsp;&nbsp; .95 | &nbsp;&nbsp; .90 | &nbsp;&nbsp; .38 |
| 12/31/2022 | 32.94 | &nbsp;&nbsp; — <br><sup>8</sup><br>| &nbsp;&nbsp; (9.14)<br>| &nbsp;&nbsp; (9.14)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (8.50)<br>| &nbsp;&nbsp; (8.50)<br>| 15.30 | &nbsp;&nbsp; (29.55)<br>| &nbsp;&nbsp; 1762 | &nbsp;&nbsp; .97 | &nbsp;&nbsp; .94 | &nbsp;&nbsp; — <br><sup>9</sup><br>|
| 12/31/2021 | 31.56 | &nbsp;&nbsp; (.10)<br>| 2.25 | 2.15 | &nbsp;&nbsp; — | &nbsp;&nbsp; (.77)<br>| &nbsp;&nbsp; (.77)<br>| 32.94 | 6.74 | &nbsp;&nbsp; 2521 | &nbsp;&nbsp; .99 | &nbsp;&nbsp; .99 | &nbsp;&nbsp; (.30)<br>|
| 12/31/2020 | 26.02 | &nbsp;&nbsp; (.08)<br>| 7.25 | 7.17 | &nbsp;&nbsp; (.04)<br>| &nbsp;&nbsp; (1.59)<br>| &nbsp;&nbsp; (1.63)<br>| 31.56 | 29.72 | &nbsp;&nbsp; 2653 | 1.00 | 1.00 | &nbsp;&nbsp; (.31)<br>|
| **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  |
| 6/30/2025<sup>4,5</sup> <br>| 17.01 | &nbsp;&nbsp; .05 | 1.27 | 1.32 | &nbsp;&nbsp; — | &nbsp;&nbsp; (.40)<br>| &nbsp;&nbsp; (.40)<br>| 17.93 | 7.86 <br><sup>6</sup><br>| &nbsp;&nbsp; 390 | 1.20 <br><sup>7</sup><br>| 1.15 <br><sup>7</sup><br>| &nbsp;&nbsp; .61 <br><sup>7</sup><br>|
| 12/31/2024 | 17.46 | &nbsp;&nbsp; .03 | &nbsp;&nbsp; .32 | &nbsp;&nbsp; .35 | &nbsp;&nbsp; (.15)<br>| &nbsp;&nbsp; (.65)<br>| &nbsp;&nbsp; (.80)<br>| 17.01 | 2.12 | &nbsp;&nbsp; 310 | 1.20 | 1.17 | &nbsp;&nbsp; .15 |
| 12/31/2023 | 15.28 | &nbsp;&nbsp; .02 | 2.37 | 2.39 | &nbsp;&nbsp; — <br><sup>8</sup><br>| &nbsp;&nbsp; (.21)<br>| &nbsp;&nbsp; (.21)<br>| 17.46 | 15.79 | &nbsp;&nbsp; 300 | 1.20 | 1.15 | &nbsp;&nbsp; .13 |
| 12/31/2022 | 32.96 | &nbsp;&nbsp; (.05)<br>| &nbsp;&nbsp; (9.13)<br>| &nbsp;&nbsp; (9.18)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (8.50)<br>| &nbsp;&nbsp; (8.50)<br>| 15.28 | &nbsp;&nbsp; (29.69)<br>| &nbsp;&nbsp; 261 | 1.22 | 1.19 | &nbsp;&nbsp; (.25)<br>|
| 12/31/2021 | 31.67 | &nbsp;&nbsp; (.18)<br>| 2.24 | 2.06 | &nbsp;&nbsp; — | &nbsp;&nbsp; (.77)<br>| &nbsp;&nbsp; (.77)<br>| 32.96 | 6.43 | &nbsp;&nbsp; 344 | 1.24 | 1.24 | &nbsp;&nbsp; (.53)<br>|
| 12/31/2020 | 26.16 | &nbsp;&nbsp; (.14)<br>| 7.27 | 7.13 | &nbsp;&nbsp; (.03)<br>| &nbsp;&nbsp; (1.59)<br>| &nbsp;&nbsp; (1.62)<br>| 31.67 | 29.39 | &nbsp;&nbsp; 268 | 1.25 | 1.25 | &nbsp;&nbsp; (.56)<br>|

---

Refer to the end of the table(s) for footnote(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **355** | American Funds Insurance Series |

---

------

Financial highlights (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | **Net asset** <br>**value,** <br>**end** <br>**of year** | **Total return** | **Net assets,** <br>**end of year** <br>**(in millions)** | **Ratio of** <br>**expenses** <br>**to average** <br>**net assets**<sup>3</sup>  | **Ratio of** <br>**net income** <br>**(loss)** <br>**to average** <br>**net assets** |
| **Year ended**  | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Net** <br>**investment** <br>**income** <br>**(loss)**<br>| **Net gains** <br>**(losses) on** <br>**securities** <br>**(both** <br>**realized and** <br>**unrealized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**(from net** <br>**investment** <br>**income)**<br>| **Distributions** <br>**(from capital** <br>**gains)**<br>| **Total** <br>**dividends** <br>**and** <br>**distributions**<br>| **Net asset** <br>**value,** <br>**end** <br>**of year** | **Total return** | **Net assets,** <br>**end of year** <br>**(in millions)** | **Ratio of** <br>**expenses** <br>**to average** <br>**net assets**<sup>3</sup>  | **Ratio of** <br>**net income** <br>**(loss)** <br>**to average** <br>**net assets** |
| **Growth Fund** | **Growth Fund** | **Growth Fund** | **Growth Fund** | **Growth Fund** | **Growth Fund** | **Growth Fund** | **Growth Fund** | **Growth Fund** | **Growth Fund** | **Growth Fund** | **Growth Fund** | **Growth Fund** |
| **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  |
| 6/30/2025<sup>4,5</sup> <br>| $127.47 | &nbsp;&nbsp; $.21 | &nbsp;&nbsp; $12.28 | &nbsp;&nbsp; $12.49 | &nbsp;&nbsp; $(.26)<br>| &nbsp;&nbsp; $(10.61)<br>| &nbsp;&nbsp; $(10.87)<br>| &nbsp;&nbsp; $129.09 | 10.26 %<sup>6</sup><br>| &nbsp;&nbsp; $23220 | &nbsp;&nbsp; .34 %<sup>7</sup><br>| &nbsp;&nbsp; .33 %<sup>7</sup><br>|
| 12/31/2024 | 99.44 | &nbsp;&nbsp; .51 | 30.78 | 31.29 | &nbsp;&nbsp; (.67)<br>| &nbsp;&nbsp; (2.59)<br>| &nbsp;&nbsp; (3.26)<br>| 127.47 | 31.96 | &nbsp;&nbsp; 21469 | &nbsp;&nbsp; .34 | &nbsp;&nbsp; .45 |
| 12/31/2023 | 76.29 | &nbsp;&nbsp; .57 | 28.16 | 28.73 | &nbsp;&nbsp; (.54)<br>| &nbsp;&nbsp; (5.04)<br>| &nbsp;&nbsp; (5.58)<br>| 99.44 | 38.81 | &nbsp;&nbsp; 17382 | &nbsp;&nbsp; .35 | &nbsp;&nbsp; .65 |
| 12/31/2022 | 127.58 | &nbsp;&nbsp; .58 | &nbsp;&nbsp; (37.03)<br>| &nbsp;&nbsp; (36.45)<br>| &nbsp;&nbsp; (.53)<br>| &nbsp;&nbsp; (14.31)<br>| &nbsp;&nbsp; (14.84)<br>| 76.29 | &nbsp;&nbsp; (29.75)<br>| &nbsp;&nbsp; 13660 | &nbsp;&nbsp; .35 | &nbsp;&nbsp; .64 |
| 12/31/2021 | 120.22 | &nbsp;&nbsp; .46 | 24.29 | 24.75 | &nbsp;&nbsp; (.58)<br>| &nbsp;&nbsp; (16.81)<br>| &nbsp;&nbsp; (17.39)<br>| 127.58 | 22.30 | &nbsp;&nbsp; 19783 | &nbsp;&nbsp; .34 | &nbsp;&nbsp; .37 |
| 12/31/2020 | 81.22 | &nbsp;&nbsp; .43 | 41.28 | 41.71 | &nbsp;&nbsp; (.53)<br>| &nbsp;&nbsp; (2.18)<br>| &nbsp;&nbsp; (2.71)<br>| 120.22 | 52.45 | &nbsp;&nbsp; 15644 | &nbsp;&nbsp; .35 | &nbsp;&nbsp; .46 |
| **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  |
| 6/30/2025<sup>4,5</sup> <br>| 126.11 | &nbsp;&nbsp; .05 | 12.14 | 12.19 | &nbsp;&nbsp; (.21)<br>| &nbsp;&nbsp; (10.61)<br>| &nbsp;&nbsp; (10.82)<br>| 127.48 | 10.13 <br><sup>6</sup><br>| &nbsp;&nbsp; 394 | &nbsp;&nbsp; .59 <br><sup>7</sup><br>| &nbsp;&nbsp; .08 <br><sup>7</sup><br>|
| 12/31/2024 | 98.46 | &nbsp;&nbsp; .22 | 30.43 | 30.65 | &nbsp;&nbsp; (.41)<br>| &nbsp;&nbsp; (2.59)<br>| &nbsp;&nbsp; (3.00)<br>| 126.11 | 31.61 | &nbsp;&nbsp; 377 | &nbsp;&nbsp; .59 | &nbsp;&nbsp; .20 |
| 12/31/2023 | 75.61 | &nbsp;&nbsp; .35 | 27.88 | 28.23 | &nbsp;&nbsp; (.34)<br>| &nbsp;&nbsp; (5.04)<br>| &nbsp;&nbsp; (5.38)<br>| 98.46 | 38.47 | &nbsp;&nbsp; 280 | &nbsp;&nbsp; .60 | &nbsp;&nbsp; .40 |
| 12/31/2022 | 126.70 | &nbsp;&nbsp; .39 | &nbsp;&nbsp; (36.79)<br>| &nbsp;&nbsp; (36.40)<br>| &nbsp;&nbsp; (.38)<br>| &nbsp;&nbsp; (14.31)<br>| &nbsp;&nbsp; (14.69)<br>| 75.61 | &nbsp;&nbsp; (29.93)<br>| &nbsp;&nbsp; 187 | &nbsp;&nbsp; .60 | &nbsp;&nbsp; .45 |
| 12/31/2021 | 119.59 | &nbsp;&nbsp; .16 | 24.11 | 24.27 | &nbsp;&nbsp; (.35)<br>| &nbsp;&nbsp; (16.81)<br>| &nbsp;&nbsp; (17.16)<br>| 126.70 | 21.97 | &nbsp;&nbsp; 121 | &nbsp;&nbsp; .59 | &nbsp;&nbsp; .13 |
| 12/31/2020 | 80.92 | &nbsp;&nbsp; .20 | 41.05 | 41.25 | &nbsp;&nbsp; (.40)<br>| &nbsp;&nbsp; (2.18)<br>| &nbsp;&nbsp; (2.58)<br>| 119.59 | 52.07 | &nbsp;&nbsp; 60 | &nbsp;&nbsp; .60 | &nbsp;&nbsp; .21 |
| **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  |
| 6/30/2025<sup>4,5</sup> <br>| 125.79 | &nbsp;&nbsp; .05 | 12.10 | 12.15 | &nbsp;&nbsp; (.21)<br>| &nbsp;&nbsp; (10.61)<br>| &nbsp;&nbsp; (10.82)<br>| 127.12 | 10.12 <br><sup>6</sup><br>| &nbsp;&nbsp; 21211 | &nbsp;&nbsp; .59 <br><sup>7</sup><br>| &nbsp;&nbsp; .08 <br><sup>7</sup><br>|
| 12/31/2024 | 98.20 | &nbsp;&nbsp; .22 | 30.34 | 30.56 | &nbsp;&nbsp; (.38)<br>| &nbsp;&nbsp; (2.59)<br>| &nbsp;&nbsp; (2.97)<br>| 125.79 | 31.61 | &nbsp;&nbsp; 20386 | &nbsp;&nbsp; .59 | &nbsp;&nbsp; .20 |
| 12/31/2023 | 75.41 | &nbsp;&nbsp; .35 | 27.80 | 28.15 | &nbsp;&nbsp; (.32)<br>| &nbsp;&nbsp; (5.04)<br>| &nbsp;&nbsp; (5.36)<br>| 98.20 | 38.49 | &nbsp;&nbsp; 17879 | &nbsp;&nbsp; .60 | &nbsp;&nbsp; .40 |
| 12/31/2022 | 126.28 | &nbsp;&nbsp; .35 | &nbsp;&nbsp; (36.62)<br>| &nbsp;&nbsp; (36.27)<br>| &nbsp;&nbsp; (.29)<br>| &nbsp;&nbsp; (14.31)<br>| &nbsp;&nbsp; (14.60)<br>| 75.41 | &nbsp;&nbsp; (29.94)<br>| &nbsp;&nbsp; 14452 | &nbsp;&nbsp; .60 | &nbsp;&nbsp; .38 |
| 12/31/2021 | 119.18 | &nbsp;&nbsp; .15 | 24.03 | 24.18 | &nbsp;&nbsp; (.27)<br>| &nbsp;&nbsp; (16.81)<br>| &nbsp;&nbsp; (17.08)<br>| 126.28 | 21.97 | &nbsp;&nbsp; 21986 | &nbsp;&nbsp; .59 | &nbsp;&nbsp; .12 |
| 12/31/2020 | 80.57 | &nbsp;&nbsp; .19 | 40.89 | 41.08 | &nbsp;&nbsp; (.29)<br>| &nbsp;&nbsp; (2.18)<br>| &nbsp;&nbsp; (2.47)<br>| 119.18 | 52.10 | &nbsp;&nbsp; 20594 | &nbsp;&nbsp; .60 | &nbsp;&nbsp; .21 |
| **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  |
| 6/30/2025<sup>4,5</sup> <br>| 128.88 | &nbsp;&nbsp; .09 | 12.43 | 12.52 | &nbsp;&nbsp; (.22)<br>| &nbsp;&nbsp; (10.61)<br>| &nbsp;&nbsp; (10.83)<br>| 130.57 | 10.16 <br><sup>6</sup><br>| &nbsp;&nbsp; 287 | &nbsp;&nbsp; .52 <br><sup>7</sup><br>| &nbsp;&nbsp; .15 <br><sup>7</sup><br>|
| 12/31/2024 | 100.54 | &nbsp;&nbsp; .30 | 31.09 | 31.39 | &nbsp;&nbsp; (.46)<br>| &nbsp;&nbsp; (2.59)<br>| &nbsp;&nbsp; (3.05)<br>| 128.88 | 31.70 | &nbsp;&nbsp; 276 | &nbsp;&nbsp; .52 | &nbsp;&nbsp; .27 |
| 12/31/2023 | 77.09 | &nbsp;&nbsp; .42 | 28.45 | 28.87 | &nbsp;&nbsp; (.38)<br>| &nbsp;&nbsp; (5.04)<br>| &nbsp;&nbsp; (5.42)<br>| 100.54 | 38.56 | &nbsp;&nbsp; 236 | &nbsp;&nbsp; .53 | &nbsp;&nbsp; .47 |
| 12/31/2022 | 128.68 | &nbsp;&nbsp; .42 | &nbsp;&nbsp; (37.35)<br>| &nbsp;&nbsp; (36.93)<br>| &nbsp;&nbsp; (.35)<br>| &nbsp;&nbsp; (14.31)<br>| &nbsp;&nbsp; (14.66)<br>| 77.09 | &nbsp;&nbsp; (29.89)<br>| &nbsp;&nbsp; 188 | &nbsp;&nbsp; .53 | &nbsp;&nbsp; .45 |
| 12/31/2021 | 121.13 | &nbsp;&nbsp; .24 | 24.47 | 24.71 | &nbsp;&nbsp; (.35)<br>| &nbsp;&nbsp; (16.81)<br>| &nbsp;&nbsp; (17.16)<br>| 128.68 | 22.07 | &nbsp;&nbsp; 302 | &nbsp;&nbsp; .52 | &nbsp;&nbsp; .19 |
| 12/31/2020 | 81.84 | &nbsp;&nbsp; .26 | 41.56 | 41.82 | &nbsp;&nbsp; (.35)<br>| &nbsp;&nbsp; (2.18)<br>| &nbsp;&nbsp; (2.53)<br>| 121.13 | 52.20 | &nbsp;&nbsp; 279 | &nbsp;&nbsp; .53 | &nbsp;&nbsp; .28 |
| **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  |
| 6/30/2025<sup>4,5</sup> <br>| 122.38 | &nbsp;&nbsp; (.10)<br>| 11.74 | 11.64 | &nbsp;&nbsp; (.17)<br>| &nbsp;&nbsp; (10.61)<br>| &nbsp;&nbsp; (10.78)<br>| 123.24 | 9.99 <br><sup>6</sup><br>| &nbsp;&nbsp; 6178 | &nbsp;&nbsp; .84 <br><sup>7</sup><br>| &nbsp;&nbsp; (.17 )<sup>7</sup><br>|
| 12/31/2024 | 95.70 | &nbsp;&nbsp; (.06)<br>| 29.52 | 29.46 | &nbsp;&nbsp; (.19)<br>| &nbsp;&nbsp; (2.59)<br>| &nbsp;&nbsp; (2.78)<br>| 122.38 | 31.29 | &nbsp;&nbsp; 5195 | &nbsp;&nbsp; .84 | &nbsp;&nbsp; (.06)<br>|
| 12/31/2023 | 73.64 | &nbsp;&nbsp; .13 | 27.12 | 27.25 | &nbsp;&nbsp; (.15)<br>| &nbsp;&nbsp; (5.04)<br>| &nbsp;&nbsp; (5.19)<br>| 95.70 | 38.13 | &nbsp;&nbsp; 3522 | &nbsp;&nbsp; .85 | &nbsp;&nbsp; .15 |
| 12/31/2022 | 123.79 | &nbsp;&nbsp; .12 | &nbsp;&nbsp; (35.87)<br>| &nbsp;&nbsp; (35.75)<br>| &nbsp;&nbsp; (.09)<br>| &nbsp;&nbsp; (14.31)<br>| &nbsp;&nbsp; (14.40)<br>| 73.64 | &nbsp;&nbsp; (30.11)<br>| &nbsp;&nbsp; 2409 | &nbsp;&nbsp; .85 | &nbsp;&nbsp; .14 |
| 12/31/2021 | 117.24 | &nbsp;&nbsp; (.15)<br>| 23.59 | 23.44 | &nbsp;&nbsp; (.08)<br>| &nbsp;&nbsp; (16.81)<br>| &nbsp;&nbsp; (16.89)<br>| 123.79 | 21.69 | &nbsp;&nbsp; 3214 | &nbsp;&nbsp; .84 | &nbsp;&nbsp; (.13)<br>|
| 12/31/2020 | 79.41 | &nbsp;&nbsp; (.04)<br>| 40.24 | 40.20 | &nbsp;&nbsp; (.19)<br>| &nbsp;&nbsp; (2.18)<br>| &nbsp;&nbsp; (2.37)<br>| 117.24 | 51.71 | &nbsp;&nbsp; 2347 | &nbsp;&nbsp; .85 | &nbsp;&nbsp; (.04)<br>|

---

Refer to the end of the table(s) for footnote(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **356** |

---

------

Financial highlights (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | **Net asset** <br>**value,** <br>**end** <br>**of year** | **Total return** | **Net assets,** <br>**end of year** <br>**(in millions)** | **Ratio of** <br>**expenses** <br>**to average** <br>**net assets**<sup>3</sup>  | **Ratio of** <br>**net income** <br>**(loss)** <br>**to average** <br>**net assets** |
| **Year ended**  | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Net** <br>**investment** <br>**income** <br>**(loss)**<br>| **Net gains** <br>**(losses) on** <br>**securities** <br>**(both** <br>**realized and** <br>**unrealized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**(from net** <br>**investment** <br>**income)**<br>| **Distributions** <br>**(from capital** <br>**gains)**<br>| **Total** <br>**dividends** <br>**and** <br>**distributions**<br>| **Net asset** <br>**value,** <br>**end** <br>**of year** | **Total return** | **Net assets,** <br>**end of year** <br>**(in millions)** | **Ratio of** <br>**expenses** <br>**to average** <br>**net assets**<sup>3</sup>  | **Ratio of** <br>**net income** <br>**(loss)** <br>**to average** <br>**net assets** |
| **International Fund** | **International Fund** | **International Fund** | **International Fund** | **International Fund** | **International Fund** | **International Fund** | **International Fund** | **International Fund** | **International Fund** | **International Fund** | **International Fund** | **International Fund** |
| **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  |
| 6/30/2025<sup>4,5</sup> <br>| $17.84 | &nbsp;&nbsp; $.25 | &nbsp;&nbsp; $1.92 | &nbsp;&nbsp; $2.17 | &nbsp;&nbsp; $(.01)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(.01)<br>| &nbsp;&nbsp; $20.00 | 12.18 %<sup>6</sup><br>| &nbsp;&nbsp; $3274 | &nbsp;&nbsp; .52 %<sup>7</sup><br>| 2.71 %<sup>7</sup><br>|
| 12/31/2024 | 17.50 | &nbsp;&nbsp; .23 | &nbsp;&nbsp; .38 | &nbsp;&nbsp; .61 | &nbsp;&nbsp; (.27)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.27)<br>| 17.84 | 3.40 | &nbsp;&nbsp; 3080 | &nbsp;&nbsp; .52 | 1.26 |
| 12/31/2023 | 15.31 | &nbsp;&nbsp; .25 | 2.20 | 2.45 | &nbsp;&nbsp; (.26)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.26)<br>| 17.50 | 16.12 | &nbsp;&nbsp; 3353 | &nbsp;&nbsp; .53 | 1.50 |
| 12/31/2022 | 22.70 | &nbsp;&nbsp; .34 | &nbsp;&nbsp; (4.79)<br>| &nbsp;&nbsp; (4.45)<br>| &nbsp;&nbsp; (.34)<br>| &nbsp;&nbsp; (2.60)<br>| &nbsp;&nbsp; (2.94)<br>| 15.31 | &nbsp;&nbsp; (20.57)<br>| &nbsp;&nbsp; 3157 | &nbsp;&nbsp; .54 | 1.95 |
| 12/31/2021 | 23.64 | &nbsp;&nbsp; .38 | &nbsp;&nbsp; (.67)<br>| &nbsp;&nbsp; (.29)<br>| &nbsp;&nbsp; (.65)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.65)<br>| 22.70 | &nbsp;&nbsp; (1.23)<br>| &nbsp;&nbsp; 4747 | &nbsp;&nbsp; .55 | 1.57 |
| 12/31/2020 | 20.86 | &nbsp;&nbsp; .14 | 2.82 | 2.96 | &nbsp;&nbsp; (.18)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.18)<br>| 23.64 | 14.28 | &nbsp;&nbsp; 5652 | &nbsp;&nbsp; .55 | &nbsp;&nbsp; .71 |
| **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  |
| 6/30/2025<sup>4,5</sup> <br>| 17.75 | &nbsp;&nbsp; .22 | 1.91 | 2.13 | &nbsp;&nbsp; (.01)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.01)<br>| 19.87 | 11.97 <br><sup>6</sup><br>| &nbsp;&nbsp; 14 | &nbsp;&nbsp; .77 <br><sup>7</sup><br>| 2.47 <br><sup>7</sup><br>|
| 12/31/2024 | 17.41 | &nbsp;&nbsp; .18 | &nbsp;&nbsp; .38 | &nbsp;&nbsp; .56 | &nbsp;&nbsp; (.22)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.22)<br>| 17.75 | 3.17 | &nbsp;&nbsp; 13 | &nbsp;&nbsp; .77 | &nbsp;&nbsp; .99 |
| 12/31/2023 | 15.23 | &nbsp;&nbsp; .21 | 2.19 | 2.40 | &nbsp;&nbsp; (.22)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.22)<br>| 17.41 | 15.85 | &nbsp;&nbsp; 12 | &nbsp;&nbsp; .78 | 1.24 |
| 12/31/2022 | 22.61 | &nbsp;&nbsp; .30 | &nbsp;&nbsp; (4.78)<br>| &nbsp;&nbsp; (4.48)<br>| &nbsp;&nbsp; (.30)<br>| &nbsp;&nbsp; (2.60)<br>| &nbsp;&nbsp; (2.90)<br>| 15.23 | &nbsp;&nbsp; (20.80)<br>| &nbsp;&nbsp; 10 | &nbsp;&nbsp; .79 | 1.73 |
| 12/31/2021 | 23.55 | &nbsp;&nbsp; .33 | &nbsp;&nbsp; (.67)<br>| &nbsp;&nbsp; (.34)<br>| &nbsp;&nbsp; (.60)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.60)<br>| 22.61 | &nbsp;&nbsp; (1.47)<br>| &nbsp;&nbsp; 12 | &nbsp;&nbsp; .80 | 1.39 |
| 12/31/2020 | 20.80 | &nbsp;&nbsp; .08 | 2.81 | 2.89 | &nbsp;&nbsp; (.14)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.14)<br>| 23.55 | 13.96 | &nbsp;&nbsp; 10 | &nbsp;&nbsp; .80 | &nbsp;&nbsp; .43 |
| **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  |
| 6/30/2025<sup>4,5</sup> <br>| 17.75 | &nbsp;&nbsp; .22 | 1.91 | 2.13 | &nbsp;&nbsp; — <br><sup>8</sup><br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — <br><sup>8</sup><br>| 19.88 | 12.03 <br><sup>6</sup><br>| &nbsp;&nbsp; 3399 | &nbsp;&nbsp; .77 <br><sup>7</sup><br>| 2.46 <br><sup>7</sup><br>|
| 12/31/2024 | 17.41 | &nbsp;&nbsp; .19 | &nbsp;&nbsp; .37 | &nbsp;&nbsp; .56 | &nbsp;&nbsp; (.22)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.22)<br>| 17.75 | 3.16 | &nbsp;&nbsp; 3238 | &nbsp;&nbsp; .77 | 1.00 |
| 12/31/2023 | 15.23 | &nbsp;&nbsp; .21 | 2.19 | 2.40 | &nbsp;&nbsp; (.22)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.22)<br>| 17.41 | 15.84 | &nbsp;&nbsp; 3382 | &nbsp;&nbsp; .78 | 1.24 |
| 12/31/2022 | 22.60 | &nbsp;&nbsp; .29 | &nbsp;&nbsp; (4.76)<br>| &nbsp;&nbsp; (4.47)<br>| &nbsp;&nbsp; (.30)<br>| &nbsp;&nbsp; (2.60)<br>| &nbsp;&nbsp; (2.90)<br>| 15.23 | &nbsp;&nbsp; (20.79)<br>| &nbsp;&nbsp; 3164 | &nbsp;&nbsp; .79 | 1.71 |
| 12/31/2021 | 23.54 | &nbsp;&nbsp; .33 | &nbsp;&nbsp; (.68)<br>| &nbsp;&nbsp; (.35)<br>| &nbsp;&nbsp; (.59)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.59)<br>| 22.60 | &nbsp;&nbsp; (1.49)<br>| &nbsp;&nbsp; 4190 | &nbsp;&nbsp; .80 | 1.35 |
| 12/31/2020 | 20.78 | &nbsp;&nbsp; .09 | 2.80 | 2.89 | &nbsp;&nbsp; (.13)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.13)<br>| 23.54 | 13.97 | &nbsp;&nbsp; 4481 | &nbsp;&nbsp; .80 | &nbsp;&nbsp; .46 |
| **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  |
| 6/30/2025<sup>4,5</sup> <br>| 17.90 | &nbsp;&nbsp; .23 | 1.94 | 2.17 | &nbsp;&nbsp; (.01)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.01)<br>| 20.06 | 12.11 <br><sup>6</sup><br>| &nbsp;&nbsp; 15 | &nbsp;&nbsp; .70 <br><sup>7</sup><br>| 2.54 <br><sup>7</sup><br>|
| 12/31/2024 | 17.56 | &nbsp;&nbsp; .20 | &nbsp;&nbsp; .37 | &nbsp;&nbsp; .57 | &nbsp;&nbsp; (.23)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.23)<br>| 17.90 | 3.19 | &nbsp;&nbsp; 15 | &nbsp;&nbsp; .70 | 1.08 |
| 12/31/2023 | 15.35 | &nbsp;&nbsp; .22 | 2.22 | 2.44 | &nbsp;&nbsp; (.23)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.23)<br>| 17.56 | 15.99 | &nbsp;&nbsp; 17 | &nbsp;&nbsp; .71 | 1.32 |
| 12/31/2022 | 22.76 | &nbsp;&nbsp; .31 | &nbsp;&nbsp; (4.81)<br>| &nbsp;&nbsp; (4.50)<br>| &nbsp;&nbsp; (.31)<br>| &nbsp;&nbsp; (2.60)<br>| &nbsp;&nbsp; (2.91)<br>| 15.35 | &nbsp;&nbsp; (20.76)<br>| &nbsp;&nbsp; 16 | &nbsp;&nbsp; .72 | 1.78 |
| 12/31/2021 | 23.69 | &nbsp;&nbsp; .34 | &nbsp;&nbsp; (.67)<br>| &nbsp;&nbsp; (.33)<br>| &nbsp;&nbsp; (.60)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.60)<br>| 22.76 | &nbsp;&nbsp; (1.39)<br>| &nbsp;&nbsp; 21 | &nbsp;&nbsp; .73 | 1.41 |
| 12/31/2020 | 20.92 | &nbsp;&nbsp; .10 | 2.81 | 2.91 | &nbsp;&nbsp; (.14)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.14)<br>| 23.69 | 14.00 | &nbsp;&nbsp; 25 | &nbsp;&nbsp; .73 | &nbsp;&nbsp; .53 |
| **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  |
| 6/30/2025<sup>4,5</sup> <br>| 17.46 | &nbsp;&nbsp; .20 | 1.87 | 2.07 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | 19.53 | 11.86 <br><sup>6</sup><br>| &nbsp;&nbsp; 507 | 1.02 <br><sup>7</sup><br>| 2.24 <br><sup>7</sup><br>|
| 12/31/2024 | 17.13 | &nbsp;&nbsp; .14 | &nbsp;&nbsp; .37 | &nbsp;&nbsp; .51 | &nbsp;&nbsp; (.18)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.18)<br>| 17.46 | 2.93 | &nbsp;&nbsp; 441 | 1.02 | &nbsp;&nbsp; .74 |
| 12/31/2023 | 14.99 | &nbsp;&nbsp; .16 | 2.16 | 2.32 | &nbsp;&nbsp; (.18)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.18)<br>| 17.13 | 15.56 | &nbsp;&nbsp; 415 | 1.03 | &nbsp;&nbsp; .99 |
| 12/31/2022 | 22.31 | &nbsp;&nbsp; .25 | &nbsp;&nbsp; (4.71)<br>| &nbsp;&nbsp; (4.46)<br>| &nbsp;&nbsp; (.26)<br>| &nbsp;&nbsp; (2.60)<br>| &nbsp;&nbsp; (2.86)<br>| 14.99 | &nbsp;&nbsp; (21.02)<br>| &nbsp;&nbsp; 373 | 1.04 | 1.47 |
| 12/31/2021 | 23.25 | &nbsp;&nbsp; .27 | &nbsp;&nbsp; (.67)<br>| &nbsp;&nbsp; (.40)<br>| &nbsp;&nbsp; (.54)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.54)<br>| 22.31 | &nbsp;&nbsp; (1.71)<br>| &nbsp;&nbsp; 459 | 1.05 | 1.13 |
| 12/31/2020 | 20.54 | &nbsp;&nbsp; .04 | 2.76 | 2.80 | &nbsp;&nbsp; (.09)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.09)<br>| 23.25 | 13.66 | &nbsp;&nbsp; 423 | 1.05 | &nbsp;&nbsp; .21 |

---

Refer to the end of the table(s) for footnote(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **357** | American Funds Insurance Series |

---

------

Financial highlights (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | **Net asset** <br>**value,** <br>**end** <br>**of year** | **Total return**<sup>2</sup>  | **Net assets,** <br>**end of year** <br>**(in millions)** | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets before** <br>**waivers/** <br>**reimbursements**<sup>3</sup>  | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets after** <br>**waivers/** <br>**reimbursements**<sup>2,3</sup>  | **Ratio of** <br>**net income** <br>**(loss)** <br>**to average** <br>**net assets**<sup>2</sup>  |
| **Year ended**  | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Net** <br>**investment** <br>**income** <br>**(loss)**<br>| **Net gains** <br>**(losses) on** <br>**securities** <br>**(both** <br>**realized and** <br>**unrealized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**(from net** <br>**investment** <br>**income)**<br>| **Distributions** <br>**(from capital** <br>**gains)**<br>| **Total** <br>**dividends** <br>**and** <br>**distributions**<br>| **Net asset** <br>**value,** <br>**end** <br>**of year** | **Total return**<sup>2</sup>  | **Net assets,** <br>**end of year** <br>**(in millions)** | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets before** <br>**waivers/** <br>**reimbursements**<sup>3</sup>  | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets after** <br>**waivers/** <br>**reimbursements**<sup>2,3</sup>  | **Ratio of** <br>**net income** <br>**(loss)** <br>**to average** <br>**net assets**<sup>2</sup>  |
| **New World Fund** | **New World Fund** | **New World Fund** | **New World Fund** | **New World Fund** | **New World Fund** | **New World Fund** | **New World Fund** | **New World Fund** | **New World Fund** | **New World Fund** | **New World Fund** | **New World Fund** | **New World Fund** |
| **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  |
| 6/30/2025<sup>4,5</sup> <br>| $26.67 | &nbsp;&nbsp; $.31 | &nbsp;&nbsp; $3.80 | &nbsp;&nbsp; $4.11 | &nbsp;&nbsp; $(.04)<br>| &nbsp;&nbsp; $(1.21)<br>| &nbsp;&nbsp; $(1.25)<br>| &nbsp;&nbsp; $29.53 | 15.63 %<sup>6</sup><br>| &nbsp;&nbsp; $1964 | &nbsp;&nbsp; .64 %<sup>7</sup><br>| &nbsp;&nbsp; .57 %<sup>7</sup><br>| 2.24 %<sup>7</sup><br>|
| 12/31/2024 | 25.48 | &nbsp;&nbsp; .43 | 1.32 | 1.75 | &nbsp;&nbsp; (.44)<br>| &nbsp;&nbsp; (.12)<br>| &nbsp;&nbsp; (.56)<br>| 26.67 | 6.86 | &nbsp;&nbsp; 1800 | &nbsp;&nbsp; .64 | &nbsp;&nbsp; .57 | 1.60 |
| 12/31/2023 | 22.30 | &nbsp;&nbsp; .40 | 3.19 | 3.59 | &nbsp;&nbsp; (.41)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.41)<br>| 25.48 | 16.22 | &nbsp;&nbsp; 1778 | &nbsp;&nbsp; .64 | &nbsp;&nbsp; .57 | 1.64 |
| 12/31/2022 | 31.83 | &nbsp;&nbsp; .37 | &nbsp;&nbsp; (7.17)<br>| &nbsp;&nbsp; (6.80)<br>| &nbsp;&nbsp; (.39)<br>| &nbsp;&nbsp; (2.34)<br>| &nbsp;&nbsp; (2.73)<br>| 22.30 | &nbsp;&nbsp; (21.86)<br>| &nbsp;&nbsp; 1610 | &nbsp;&nbsp; .68 | &nbsp;&nbsp; .57 | 1.48 |
| 12/31/2021 | 31.59 | &nbsp;&nbsp; .29 | 1.38 | 1.67 | &nbsp;&nbsp; (.36)<br>| &nbsp;&nbsp; (1.07)<br>| &nbsp;&nbsp; (1.43)<br>| 31.83 | 5.16 | &nbsp;&nbsp; 2443 | &nbsp;&nbsp; .74 | &nbsp;&nbsp; .56 | &nbsp;&nbsp; .88 |
| 12/31/2020 | 25.84 | &nbsp;&nbsp; .15 | 5.93 | 6.08 | &nbsp;&nbsp; (.06)<br>| &nbsp;&nbsp; (.27)<br>| &nbsp;&nbsp; (.33)<br>| 31.59 | 23.89 | &nbsp;&nbsp; 2309 | &nbsp;&nbsp; .76 | &nbsp;&nbsp; .64 | &nbsp;&nbsp; .58 |
| **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  |
| 6/30/2025<sup>4,5</sup> <br>| 26.53 | &nbsp;&nbsp; .27 | 3.78 | 4.05 | &nbsp;&nbsp; (.03)<br>| &nbsp;&nbsp; (1.21)<br>| &nbsp;&nbsp; (1.24)<br>| 29.34 | 15.48 <br><sup>6</sup><br>| &nbsp;&nbsp; 12 | &nbsp;&nbsp; .89 <br><sup>7</sup><br>| &nbsp;&nbsp; .82 <br><sup>7</sup><br>| 1.95 <br><sup>7</sup><br>|
| 12/31/2024 | 25.36 | &nbsp;&nbsp; .36 | 1.31 | 1.67 | &nbsp;&nbsp; (.38)<br>| &nbsp;&nbsp; (.12)<br>| &nbsp;&nbsp; (.50)<br>| 26.53 | 6.58 | &nbsp;&nbsp; 12 | &nbsp;&nbsp; .89 | &nbsp;&nbsp; .82 | 1.33 |
| 12/31/2023 | 22.19 | &nbsp;&nbsp; .33 | 3.20 | 3.53 | &nbsp;&nbsp; (.36)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.36)<br>| 25.36 | 15.98 | &nbsp;&nbsp; 10 | &nbsp;&nbsp; .89 | &nbsp;&nbsp; .82 | 1.38 |
| 12/31/2022 | 31.70 | &nbsp;&nbsp; .30 | &nbsp;&nbsp; (7.15)<br>| &nbsp;&nbsp; (6.85)<br>| &nbsp;&nbsp; (.32)<br>| &nbsp;&nbsp; (2.34)<br>| &nbsp;&nbsp; (2.66)<br>| 22.19 | &nbsp;&nbsp; (22.09)<br>| &nbsp;&nbsp; 9 | &nbsp;&nbsp; .93 | &nbsp;&nbsp; .82 | 1.24 |
| 12/31/2021 | 31.43 | &nbsp;&nbsp; .17 | 1.41 | 1.58 | &nbsp;&nbsp; (.24)<br>| &nbsp;&nbsp; (1.07)<br>| &nbsp;&nbsp; (1.31)<br>| 31.70 | 4.90 | &nbsp;&nbsp; 12 | &nbsp;&nbsp; .99 | &nbsp;&nbsp; .81 | &nbsp;&nbsp; .54 |
| 12/31/2020 | 25.74 | &nbsp;&nbsp; .07 | 5.92 | 5.99 | &nbsp;&nbsp; (.03)<br>| &nbsp;&nbsp; (.27)<br>| &nbsp;&nbsp; (.30)<br>| 31.43 | 23.63 | &nbsp;&nbsp; 18 | 1.01 | &nbsp;&nbsp; .87 | &nbsp;&nbsp; .26 |
| **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  |
| 6/30/2025<sup>4,5</sup> <br>| 26.33 | &nbsp;&nbsp; .27 | 3.75 | 4.02 | &nbsp;&nbsp; (.03)<br>| &nbsp;&nbsp; (1.21)<br>| &nbsp;&nbsp; (1.24)<br>| 29.11 | 15.48 <br><sup>6</sup><br>| &nbsp;&nbsp; 852 | &nbsp;&nbsp; .89 <br><sup>7</sup><br>| &nbsp;&nbsp; .82 <br><sup>7</sup><br>| 1.99 <br><sup>7</sup><br>|
| 12/31/2024 | 25.17 | &nbsp;&nbsp; .36 | 1.30 | 1.66 | &nbsp;&nbsp; (.38)<br>| &nbsp;&nbsp; (.12)<br>| &nbsp;&nbsp; (.50)<br>| 26.33 | 6.55 | &nbsp;&nbsp; 791 | &nbsp;&nbsp; .89 | &nbsp;&nbsp; .82 | 1.36 |
| 12/31/2023 | 22.02 | &nbsp;&nbsp; .33 | 3.17 | 3.50 | &nbsp;&nbsp; (.35)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.35)<br>| 25.17 | 15.99 | &nbsp;&nbsp; 803 | &nbsp;&nbsp; .89 | &nbsp;&nbsp; .82 | 1.39 |
| 12/31/2022 | 31.48 | &nbsp;&nbsp; .30 | &nbsp;&nbsp; (7.10)<br>| &nbsp;&nbsp; (6.80)<br>| &nbsp;&nbsp; (.32)<br>| &nbsp;&nbsp; (2.34)<br>| &nbsp;&nbsp; (2.66)<br>| 22.02 | &nbsp;&nbsp; (22.10)<br>| &nbsp;&nbsp; 764 | &nbsp;&nbsp; .93 | &nbsp;&nbsp; .82 | 1.24 |
| 12/31/2021 | 31.25 | &nbsp;&nbsp; .20 | 1.38 | 1.58 | &nbsp;&nbsp; (.28)<br>| &nbsp;&nbsp; (1.07)<br>| &nbsp;&nbsp; (1.35)<br>| 31.48 | 4.92 | &nbsp;&nbsp; 1086 | &nbsp;&nbsp; .99 | &nbsp;&nbsp; .81 | &nbsp;&nbsp; .63 |
| 12/31/2020 | 25.59 | &nbsp;&nbsp; .08 | 5.87 | 5.95 | &nbsp;&nbsp; (.02)<br>| &nbsp;&nbsp; (.27)<br>| &nbsp;&nbsp; (.29)<br>| 31.25 | 23.58 | &nbsp;&nbsp; 1109 | 1.01 | &nbsp;&nbsp; .89 | &nbsp;&nbsp; .34 |
| **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  |
| 6/30/2025<sup>4,5</sup> <br>| 26.09 | &nbsp;&nbsp; .23 | 3.72 | 3.95 | &nbsp;&nbsp; (.02)<br>| &nbsp;&nbsp; (1.21)<br>| &nbsp;&nbsp; (1.23)<br>| 28.81 | 15.31 <br><sup>6</sup><br>| &nbsp;&nbsp; 900 | 1.14 <br><sup>7</sup><br>| 1.07 <br><sup>7</sup><br>| 1.75 <br><sup>7</sup><br>|
| 12/31/2024 | 24.95 | &nbsp;&nbsp; .29 | 1.28 | 1.57 | &nbsp;&nbsp; (.31)<br>| &nbsp;&nbsp; (.12)<br>| &nbsp;&nbsp; (.43)<br>| 26.09 | 6.33 | &nbsp;&nbsp; 809 | 1.14 | 1.07 | 1.10 |
| 12/31/2023 | 21.84 | &nbsp;&nbsp; .27 | 3.14 | 3.41 | &nbsp;&nbsp; (.30)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.30)<br>| 24.95 | 15.67 | &nbsp;&nbsp; 787 | 1.14 | 1.07 | 1.14 |
| 12/31/2022 | 31.24 | &nbsp;&nbsp; .24 | &nbsp;&nbsp; (7.03)<br>| &nbsp;&nbsp; (6.79)<br>| &nbsp;&nbsp; (.27)<br>| &nbsp;&nbsp; (2.34)<br>| &nbsp;&nbsp; (2.61)<br>| 21.84 | &nbsp;&nbsp; (22.25)<br>| &nbsp;&nbsp; 701 | 1.18 | 1.07 | &nbsp;&nbsp; .99 |
| 12/31/2021 | 31.04 | &nbsp;&nbsp; .12 | 1.36 | 1.48 | &nbsp;&nbsp; (.21)<br>| &nbsp;&nbsp; (1.07)<br>| &nbsp;&nbsp; (1.28)<br>| 31.24 | 4.63 | &nbsp;&nbsp; 906 | 1.24 | 1.06 | &nbsp;&nbsp; .38 |
| 12/31/2020 | 25.47 | &nbsp;&nbsp; .02 | 5.83 | 5.85 | &nbsp;&nbsp; (.01)<br>| &nbsp;&nbsp; (.27)<br>| &nbsp;&nbsp; (.28)<br>| 31.04 | 23.29 | &nbsp;&nbsp; 807 | 1.26 | 1.14 | &nbsp;&nbsp; .08 |

---

Refer to the end of the table(s) for footnote(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **358** |

---

------

Financial highlights (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | **Net asset** <br>**value,** <br>**end** <br>**of year** | **Total return**<sup>2</sup>  | **Net assets,** <br>**end of year** <br>**(in millions)** | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets before** <br>**waivers/** <br>**reimbursements**<sup>3</sup>  | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets after** <br>**waivers/** <br>**reimbursements**<sup>2,3</sup>  | **Ratio of** <br>**net income** <br>**(loss)** <br>**to average** <br>**net assets**<sup>2</sup>  |
| **Year ended**  | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Net** <br>**investment** <br>**income** <br>**(loss)**<br>| **Net gains** <br>**(losses) on** <br>**securities** <br>**(both** <br>**realized and** <br>**unrealized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**(from net** <br>**investment** <br>**income)**<br>| **Distributions** <br>**(from capital** <br>**gains)**<br>| **Total** <br>**dividends** <br>**and** <br>**distributions**<br>| **Net asset** <br>**value,** <br>**end** <br>**of year** | **Total return**<sup>2</sup>  | **Net assets,** <br>**end of year** <br>**(in millions)** | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets before** <br>**waivers/** <br>**reimbursements**<sup>3</sup>  | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets after** <br>**waivers/** <br>**reimbursements**<sup>2,3</sup>  | **Ratio of** <br>**net income** <br>**(loss)** <br>**to average** <br>**net assets**<sup>2</sup>  |
| **Washington Mutual Investors Fund** | **Washington Mutual Investors Fund** | **Washington Mutual Investors Fund** | **Washington Mutual Investors Fund** | **Washington Mutual Investors Fund** | **Washington Mutual Investors Fund** | **Washington Mutual Investors Fund** | **Washington Mutual Investors Fund** | **Washington Mutual Investors Fund** | **Washington Mutual Investors Fund** | **Washington Mutual Investors Fund** | **Washington Mutual Investors Fund** | **Washington Mutual Investors Fund** | **Washington Mutual Investors Fund** |
| **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  |
| 6/30/2025<sup>4,5</sup> <br>| $16.86 | &nbsp;&nbsp; $.15 | &nbsp;&nbsp; $1.35 | &nbsp;&nbsp; $1.50 | &nbsp;&nbsp; $(.06)<br>| &nbsp;&nbsp; $(1.20)<br>| &nbsp;&nbsp; $(1.26)<br>| &nbsp;&nbsp; $17.10 | 9.17 %<sup>6</sup><br>| &nbsp;&nbsp; $6488 | &nbsp;&nbsp; .41 %<sup>7</sup><br>| &nbsp;&nbsp; .26 %<sup>7</sup><br>| 1.79 %<sup>7</sup><br>|
| 12/31/2024 | 14.49 | &nbsp;&nbsp; .29 | 2.51 | 2.80 | &nbsp;&nbsp; (.30)<br>| &nbsp;&nbsp; (.13)<br>| &nbsp;&nbsp; (.43)<br>| 16.86 | 19.40 | &nbsp;&nbsp; 6269 | &nbsp;&nbsp; .41 | &nbsp;&nbsp; .26 | 1.78 |
| 12/31/2023 | 12.69 | &nbsp;&nbsp; .28 | 1.92 | 2.20 | &nbsp;&nbsp; (.28)<br>| &nbsp;&nbsp; (.12)<br>| &nbsp;&nbsp; (.40)<br>| 14.49 | 17.66 | &nbsp;&nbsp; 6020 | &nbsp;&nbsp; .41 | &nbsp;&nbsp; .27 | 2.07 |
| 12/31/2022 | 18.09 | &nbsp;&nbsp; .31 | &nbsp;&nbsp; (1.69)<br>| &nbsp;&nbsp; (1.38)<br>| &nbsp;&nbsp; (.30)<br>| &nbsp;&nbsp; (3.72)<br>| &nbsp;&nbsp; (4.02)<br>| 12.69 | &nbsp;&nbsp; (8.28)<br>| &nbsp;&nbsp; 5507 | &nbsp;&nbsp; .41 | &nbsp;&nbsp; .26 | 2.13 |
| 12/31/2021 | 14.35 | &nbsp;&nbsp; .29 | 3.73 | 4.02 | &nbsp;&nbsp; (.28)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.28)<br>| 18.09 | 28.12 | &nbsp;&nbsp; 6766 | &nbsp;&nbsp; .42 | &nbsp;&nbsp; .31 | 1.79 |
| 12/31/2020 | 13.56 | &nbsp;&nbsp; .25 | &nbsp;&nbsp; .95 | 1.20 | &nbsp;&nbsp; (.26)<br>| &nbsp;&nbsp; (.15)<br>| &nbsp;&nbsp; (.41)<br>| 14.35 | 9.04 | &nbsp;&nbsp; 5684 | &nbsp;&nbsp; .43 | &nbsp;&nbsp; .43 | 2.00 |
| **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  |
| 6/30/2025<sup>4,5</sup> <br>| 16.79 | &nbsp;&nbsp; .13 | 1.34 | 1.47 | &nbsp;&nbsp; (.06)<br>| &nbsp;&nbsp; (1.20)<br>| &nbsp;&nbsp; (1.26)<br>| 17.00 | 8.99 <br><sup>6</sup><br>| &nbsp;&nbsp; 34 | &nbsp;&nbsp; .66 <br><sup>7</sup><br>| &nbsp;&nbsp; .51 <br><sup>7</sup><br>| 1.54 <br><sup>7</sup><br>|
| 12/31/2024 | 14.43 | &nbsp;&nbsp; .25 | 2.50 | 2.75 | &nbsp;&nbsp; (.26)<br>| &nbsp;&nbsp; (.13)<br>| &nbsp;&nbsp; (.39)<br>| 16.79 | 19.15 | &nbsp;&nbsp; 29 | &nbsp;&nbsp; .66 | &nbsp;&nbsp; .51 | 1.53 |
| 12/31/2023 | 12.61 | &nbsp;&nbsp; .23 | 1.92 | 2.15 | &nbsp;&nbsp; (.21)<br>| &nbsp;&nbsp; (.12)<br>| &nbsp;&nbsp; (.33)<br>| 14.43 | 17.29 | &nbsp;&nbsp; 23 | &nbsp;&nbsp; .66 | &nbsp;&nbsp; .52 | 1.77 |
| 12/31/2022 | 17.96 | &nbsp;&nbsp; .27 | &nbsp;&nbsp; (1.67)<br>| &nbsp;&nbsp; (1.40)<br>| &nbsp;&nbsp; (.23)<br>| &nbsp;&nbsp; (3.72)<br>| &nbsp;&nbsp; (3.95)<br>| 12.61 | &nbsp;&nbsp; (8.45)<br>| &nbsp;&nbsp; 64 | &nbsp;&nbsp; .66 | &nbsp;&nbsp; .51 | 1.76 |
| 12/31/2021 | 14.28 | &nbsp;&nbsp; .27 | 3.67 | 3.94 | &nbsp;&nbsp; (.26)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.26)<br>| 17.96 | 27.70 | &nbsp;&nbsp; 169 | &nbsp;&nbsp; .67 | &nbsp;&nbsp; .53 | 1.62 |
| 12/31/2020 | 13.51 | &nbsp;&nbsp; .23 | &nbsp;&nbsp; .93 | 1.16 | &nbsp;&nbsp; (.24)<br>| &nbsp;&nbsp; (.15)<br>| &nbsp;&nbsp; (.39)<br>| 14.28 | 8.79 | &nbsp;&nbsp; 25 | &nbsp;&nbsp; .67 | &nbsp;&nbsp; .67 | 1.78 |
| **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  |
| 6/30/2025<sup>4,5</sup> <br>| 16.53 | &nbsp;&nbsp; .13 | 1.32 | 1.45 | &nbsp;&nbsp; (.06)<br>| &nbsp;&nbsp; (1.20)<br>| &nbsp;&nbsp; (1.26)<br>| 16.72 | 9.01 <br><sup>6</sup><br>| &nbsp;&nbsp; 3098 | &nbsp;&nbsp; .66 <br><sup>7</sup><br>| &nbsp;&nbsp; .51 <br><sup>7</sup><br>| 1.54 <br><sup>7</sup><br>|
| 12/31/2024 | 14.21 | &nbsp;&nbsp; .24 | 2.47 | 2.71 | &nbsp;&nbsp; (.26)<br>| &nbsp;&nbsp; (.13)<br>| &nbsp;&nbsp; (.39)<br>| 16.53 | 19.14 | &nbsp;&nbsp; 3002 | &nbsp;&nbsp; .66 | &nbsp;&nbsp; .51 | 1.53 |
| 12/31/2023 | 12.46 | &nbsp;&nbsp; .24 | 1.88 | 2.12 | &nbsp;&nbsp; (.25)<br>| &nbsp;&nbsp; (.12)<br>| &nbsp;&nbsp; (.37)<br>| 14.21 | 17.29 | &nbsp;&nbsp; 2899 | &nbsp;&nbsp; .66 | &nbsp;&nbsp; .52 | 1.82 |
| 12/31/2022 | 17.83 | &nbsp;&nbsp; .26 | &nbsp;&nbsp; (1.65)<br>| &nbsp;&nbsp; (1.39)<br>| &nbsp;&nbsp; (.26)<br>| &nbsp;&nbsp; (3.72)<br>| &nbsp;&nbsp; (3.98)<br>| 12.46 | &nbsp;&nbsp; (8.45)<br>| &nbsp;&nbsp; 2775 | &nbsp;&nbsp; .66 | &nbsp;&nbsp; .51 | 1.88 |
| 12/31/2021 | 14.15 | &nbsp;&nbsp; .25 | 3.67 | 3.92 | &nbsp;&nbsp; (.24)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.24)<br>| 17.83 | 27.78 | &nbsp;&nbsp; 3426 | &nbsp;&nbsp; .67 | &nbsp;&nbsp; .56 | 1.54 |
| 12/31/2020 | 13.39 | &nbsp;&nbsp; .22 | &nbsp;&nbsp; .91 | 1.13 | &nbsp;&nbsp; (.22)<br>| &nbsp;&nbsp; (.15)<br>| &nbsp;&nbsp; (.37)<br>| 14.15 | 8.68 | &nbsp;&nbsp; 3082 | &nbsp;&nbsp; .68 | &nbsp;&nbsp; .68 | 1.75 |
| **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  |
| 6/30/2025<sup>4,5</sup> <br>| 16.34 | &nbsp;&nbsp; .11 | 1.30 | 1.41 | &nbsp;&nbsp; (.05)<br>| &nbsp;&nbsp; (1.20)<br>| &nbsp;&nbsp; (1.25)<br>| 16.50 | 8.90 <br><sup>6</sup><br>| &nbsp;&nbsp; 2052 | &nbsp;&nbsp; .91 <br><sup>7</sup><br>| &nbsp;&nbsp; .76 <br><sup>7</sup><br>| 1.29 <br><sup>7</sup><br>|
| 12/31/2024 | 14.06 | &nbsp;&nbsp; .20 | 2.44 | 2.64 | &nbsp;&nbsp; (.23)<br>| &nbsp;&nbsp; (.13)<br>| &nbsp;&nbsp; (.36)<br>| 16.34 | 18.85 | &nbsp;&nbsp; 1766 | &nbsp;&nbsp; .91 | &nbsp;&nbsp; .76 | 1.28 |
| 12/31/2023 | 12.34 | &nbsp;&nbsp; .20 | 1.86 | 2.06 | &nbsp;&nbsp; (.22)<br>| &nbsp;&nbsp; (.12)<br>| &nbsp;&nbsp; (.34)<br>| 14.06 | 16.97 | &nbsp;&nbsp; 1344 | &nbsp;&nbsp; .91 | &nbsp;&nbsp; .77 | 1.58 |
| 12/31/2022 | 17.71 | &nbsp;&nbsp; .23 | &nbsp;&nbsp; (1.64)<br>| &nbsp;&nbsp; (1.41)<br>| &nbsp;&nbsp; (.24)<br>| &nbsp;&nbsp; (3.72)<br>| &nbsp;&nbsp; (3.96)<br>| 12.34 | &nbsp;&nbsp; (8.69)<br>| &nbsp;&nbsp; 1098 | &nbsp;&nbsp; .91 | &nbsp;&nbsp; .77 | 1.64 |
| 12/31/2021 | 14.06 | &nbsp;&nbsp; .21 | 3.65 | 3.86 | &nbsp;&nbsp; (.21)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.21)<br>| 17.71 | 27.51 | &nbsp;&nbsp; 1104 | &nbsp;&nbsp; .92 | &nbsp;&nbsp; .81 | 1.30 |
| 12/31/2020 | 13.31 | &nbsp;&nbsp; .19 | &nbsp;&nbsp; .91 | 1.10 | &nbsp;&nbsp; (.20)<br>| &nbsp;&nbsp; (.15)<br>| &nbsp;&nbsp; (.35)<br>| 14.06 | 8.47 | &nbsp;&nbsp; 788 | &nbsp;&nbsp; .93 | &nbsp;&nbsp; .93 | 1.51 |

---

Refer to the end of the table(s) for footnote(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **359** | American Funds Insurance Series |

---

------

Financial highlights (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | **Net asset** <br>**value,** <br>**end** <br>**of year** | **Net assets,** <br>**end of year** <br>**(in millions)** |
| **Year ended**  | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Net** <br>**investment** <br>**income** <br>**(loss)**<br>| **Net gains** <br>**(losses) on** <br>**securities** <br>**(both** <br>**realized and** <br>**unrealized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**(from net** <br>**investment** <br>**income)**<br>| **Distributions** <br>**(from capital** <br>**gains)**<br>| **Total** <br>**dividends** <br>**and** <br>**distributions**<br>| **Net asset** <br>**value,** <br>**end** <br>**of year** | **Net assets,** <br>**end of year** <br>**(in millions)** |
| **U.S. Small and Mid Cap Equity Fund** | **U.S. Small and Mid Cap Equity Fund** | **U.S. Small and Mid Cap Equity Fund** | **U.S. Small and Mid Cap Equity Fund** | **U.S. Small and Mid Cap Equity Fund** | **U.S. Small and Mid Cap Equity Fund** | **U.S. Small and Mid Cap Equity Fund** | **U.S. Small and Mid Cap Equity Fund** | **U.S. Small and Mid Cap Equity Fund** | **U.S. Small and Mid Cap Equity Fund** |
| **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  |
| 6/30/2025<sup>4,5</sup> <br>| $9.71 | &nbsp;&nbsp; $.04 | &nbsp;&nbsp; $.70 | &nbsp;&nbsp; $.74 | &nbsp;&nbsp; $— <br><sup>8</sup><br>| &nbsp;&nbsp; $— <br><sup>8</sup><br>| &nbsp;&nbsp; $— <br><sup>8</sup><br>| &nbsp;&nbsp; $10.45<br>7.56 %<sup>6</sup><br>| &nbsp;&nbsp; $— <br><sup>10</sup><br>&nbsp;&nbsp; .82 %<sup>7</sup><br>&nbsp;&nbsp; .54 %<sup>7</sup><br>&nbsp;&nbsp; .76 %<sup>7</sup><br>|
| 12/31/2024<sup>4,11</sup> <br>| 10.00 | &nbsp;&nbsp; .01 | &nbsp;&nbsp; (.29)<br>| &nbsp;&nbsp; (.28)<br>| &nbsp;&nbsp; (.01)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.01)<br>| 9.71<br>&nbsp;&nbsp; (2.81 )<sup>6</sup><br>| &nbsp;&nbsp; — <br><sup>10</sup><br>&nbsp;&nbsp; .59 <br><sup>7</sup><br>&nbsp;&nbsp; .54 <br><sup>7</sup><br>&nbsp;&nbsp; .72 <br><sup>7</sup><br>|
| **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  |
| 6/30/2025<sup>4,5</sup> <br>| 9.71 | &nbsp;&nbsp; .04 | &nbsp;&nbsp; .70 | &nbsp;&nbsp; .74 | &nbsp;&nbsp; — <br><sup>8</sup><br>| &nbsp;&nbsp; — <br><sup>8</sup><br>| &nbsp;&nbsp; — <br><sup>8</sup><br>| 10.45<br>7.56 <br><sup>612</sup><br>| &nbsp;&nbsp; — <br><sup>10</sup><br>&nbsp;&nbsp; .83 <br><sup>712</sup><br>&nbsp;&nbsp; .54 <br><sup>712</sup><br>&nbsp;&nbsp; .76 <br><sup>712</sup><br>|
| 12/31/2024<sup>4,11</sup> <br>| 10.00 | &nbsp;&nbsp; .01 | &nbsp;&nbsp; (.29)<br>| &nbsp;&nbsp; (.28)<br>| &nbsp;&nbsp; (.01)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.01)<br>| 9.71<br>&nbsp;&nbsp; (2.81 )<sup>612</sup><br>| &nbsp;&nbsp; — <br><sup>10</sup><br>&nbsp;&nbsp; .59 <br><sup>712</sup><br>&nbsp;&nbsp; .54 <br><sup>712</sup><br>&nbsp;&nbsp; .72 <br><sup>712</sup><br>|
| **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  |
| 6/30/2025<sup>4,5</sup> <br>| 9.71 | &nbsp;&nbsp; .04 | &nbsp;&nbsp; .70 | &nbsp;&nbsp; .74 | &nbsp;&nbsp; — <br><sup>8</sup><br>| &nbsp;&nbsp; — <br><sup>8</sup><br>| &nbsp;&nbsp; — <br><sup>8</sup><br>| 10.45<br>7.56 <br><sup>612</sup><br>| &nbsp;&nbsp; — <br><sup>10</sup><br>&nbsp;&nbsp; .82 <br><sup>712</sup><br>&nbsp;&nbsp; .54 <br><sup>712</sup><br>&nbsp;&nbsp; .76 <br><sup>712</sup><br>|
| 12/31/2024<sup>4,11</sup> <br>| 10.00 | &nbsp;&nbsp; .01 | &nbsp;&nbsp; (.29)<br>| &nbsp;&nbsp; (.28)<br>| &nbsp;&nbsp; (.01)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.01)<br>| 9.71<br>&nbsp;&nbsp; (2.81 )<sup>612</sup><br>| &nbsp;&nbsp; — <br><sup>10</sup><br>&nbsp;&nbsp; .59 <br><sup>712</sup><br>&nbsp;&nbsp; .54 <br><sup>712</sup><br>&nbsp;&nbsp; .72 <br><sup>712</sup><br>|
| **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  |
| 6/30/2025<sup>4,5</sup> <br>| 9.71 | &nbsp;&nbsp; .04 | &nbsp;&nbsp; .70 | &nbsp;&nbsp; .74 | &nbsp;&nbsp; — <br><sup>8</sup><br>| &nbsp;&nbsp; — <br><sup>8</sup><br>| &nbsp;&nbsp; — <br><sup>8</sup><br>| 10.45<br>7.56 <br><sup>612</sup><br>| &nbsp;&nbsp; 16<br>&nbsp;&nbsp; .83 <br><sup>712</sup><br>&nbsp;&nbsp; .54 <br><sup>712</sup><br>&nbsp;&nbsp; .76 <br><sup>712</sup><br>|
| 12/31/2024<sup>4,11</sup> <br>| 10.00 | &nbsp;&nbsp; .01 | &nbsp;&nbsp; (.29)<br>| &nbsp;&nbsp; (.28)<br>| &nbsp;&nbsp; (.01)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.01)<br>| 9.71<br>&nbsp;&nbsp; (2.82 )<sup>612</sup><br>| &nbsp;&nbsp; 15<br>&nbsp;&nbsp; .59 <br><sup>712</sup><br>&nbsp;&nbsp; .55 <br><sup>712</sup><br>&nbsp;&nbsp; .71 <br><sup>712</sup><br>|

---

Refer to the end of the table(s) for footnote(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **360** |

---

------

Financial highlights (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | **Net asset** <br>**value,** <br>**end** <br>**of year** | **Total return**<sup>2</sup>  | **Net assets,** <br>**end of year** <br>**(in millions)** | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets before** <br>**waivers/** <br>**reimbursements**<sup>3</sup>  | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets after** <br>**waivers/** <br>**reimbursements**<sup>2,3</sup>  | **Ratio of** <br>**net income** <br>**(loss)** <br>**to average** <br>**net assets**<sup>2</sup>  |
| **Year ended**  | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Net** <br>**investment** <br>**income** <br>**(loss)**<br>| **Net gains** <br>**(losses) on** <br>**securities** <br>**(both** <br>**realized and** <br>**unrealized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**(from net** <br>**investment** <br>**income)**<br>| **Distributions** <br>**(from capital** <br>**gains)**<br>| **Total** <br>**dividends** <br>**and** <br>**distributions**<br>| **Net asset** <br>**value,** <br>**end** <br>**of year** | **Total return**<sup>2</sup>  | **Net assets,** <br>**end of year** <br>**(in millions)** | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets before** <br>**waivers/** <br>**reimbursements**<sup>3</sup>  | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets after** <br>**waivers/** <br>**reimbursements**<sup>2,3</sup>  | **Ratio of** <br>**net income** <br>**(loss)** <br>**to average** <br>**net assets**<sup>2</sup>  |
| **Capital World Growth and Income Fund** | **Capital World Growth and Income Fund** | **Capital World Growth and Income Fund** | **Capital World Growth and Income Fund** | **Capital World Growth and Income Fund** | **Capital World Growth and Income Fund** | **Capital World Growth and Income Fund** | **Capital World Growth and Income Fund** | **Capital World Growth and Income Fund** | **Capital World Growth and Income Fund** | **Capital World Growth and Income Fund** | **Capital World Growth and Income Fund** | **Capital World Growth and Income Fund** | **Capital World Growth and Income Fund** |
| **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  |
| 6/30/2025<sup>4,5</sup> <br>| $15.53 | &nbsp;&nbsp; $.17 | &nbsp;&nbsp; $1.82 | &nbsp;&nbsp; $1.99 | &nbsp;&nbsp; $(.04)<br>| &nbsp;&nbsp; $(.61)<br>| &nbsp;&nbsp; $(.65)<br>| &nbsp;&nbsp; $16.87 | 13.03 %<sup>6</sup><br>| &nbsp;&nbsp; $612 | &nbsp;&nbsp; .52 %<sup>7</sup><br>| &nbsp;&nbsp; .42 %<sup>7</sup><br>| 2.19 %<sup>7</sup><br>|
| 12/31/2024 | 13.85 | &nbsp;&nbsp; .27 | 1.71 | 1.98 | &nbsp;&nbsp; (.30)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.30)<br>| 15.53 | 14.24 | &nbsp;&nbsp; 597 | &nbsp;&nbsp; .52 | &nbsp;&nbsp; .42 | 1.75 |
| 12/31/2023 | 11.67 | &nbsp;&nbsp; .27 | 2.19 | 2.46 | &nbsp;&nbsp; (.28)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.28)<br>| 13.85 | 21.22 | &nbsp;&nbsp; 579 | &nbsp;&nbsp; .52 | &nbsp;&nbsp; .41 | 2.08 |
| 12/31/2022 | 18.42 | &nbsp;&nbsp; .32 | &nbsp;&nbsp; (3.28)<br>| &nbsp;&nbsp; (2.96)<br>| &nbsp;&nbsp; (.34)<br>| &nbsp;&nbsp; (3.45)<br>| &nbsp;&nbsp; (3.79)<br>| 11.67 | &nbsp;&nbsp; (17.13)<br>| &nbsp;&nbsp; 548 | &nbsp;&nbsp; .57 | &nbsp;&nbsp; .41 | 2.36 |
| 12/31/2021 | 16.67 | &nbsp;&nbsp; .38 | 2.10 | 2.48 | &nbsp;&nbsp; (.33)<br>| &nbsp;&nbsp; (.40)<br>| &nbsp;&nbsp; (.73)<br>| 18.42 | 15.03 | &nbsp;&nbsp; 812 | &nbsp;&nbsp; .63 | &nbsp;&nbsp; .47 | 2.14 |
| 12/31/2020 | 15.92 | &nbsp;&nbsp; .22 | 1.14 | 1.36 | &nbsp;&nbsp; (.23)<br>| &nbsp;&nbsp; (.38)<br>| &nbsp;&nbsp; (.61)<br>| 16.67 | 9.03 | &nbsp;&nbsp; 657 | &nbsp;&nbsp; .66 | &nbsp;&nbsp; .66 | 1.49 |
| **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  |
| 6/30/2025<sup>4,5</sup> <br>| 15.44 | &nbsp;&nbsp; .16 | 1.79 | 1.95 | &nbsp;&nbsp; (.03)<br>| &nbsp;&nbsp; (.61)<br>| &nbsp;&nbsp; (.64)<br>| 16.75 | 12.86 <br><sup>6</sup><br>| &nbsp;&nbsp; 11 | &nbsp;&nbsp; .77 <br><sup>7</sup><br>| &nbsp;&nbsp; .67 <br><sup>7</sup><br>| 1.97 <br><sup>7</sup><br>|
| 12/31/2024 | 13.77 | &nbsp;&nbsp; .23 | 1.70 | 1.93 | &nbsp;&nbsp; (.26)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.26)<br>| 15.44 | 14.00 | &nbsp;&nbsp; 8 | &nbsp;&nbsp; .77 | &nbsp;&nbsp; .67 | 1.50 |
| 12/31/2023 | 11.61 | &nbsp;&nbsp; .23 | 2.18 | 2.41 | &nbsp;&nbsp; (.25)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.25)<br>| 13.77 | 20.87 | &nbsp;&nbsp; 7 | &nbsp;&nbsp; .77 | &nbsp;&nbsp; .66 | 1.83 |
| 12/31/2022 | 18.34 | &nbsp;&nbsp; .28 | &nbsp;&nbsp; (3.25)<br>| &nbsp;&nbsp; (2.97)<br>| &nbsp;&nbsp; (.31)<br>| &nbsp;&nbsp; (3.45)<br>| &nbsp;&nbsp; (3.76)<br>| 11.61 | &nbsp;&nbsp; (17.29)<br>| &nbsp;&nbsp; 6 | &nbsp;&nbsp; .82 | &nbsp;&nbsp; .66 | 2.13 |
| 12/31/2021 | 16.62 | &nbsp;&nbsp; .37 | 2.06 | 2.43 | &nbsp;&nbsp; (.31)<br>| &nbsp;&nbsp; (.40)<br>| &nbsp;&nbsp; (.71)<br>| 18.34 | 14.71 | &nbsp;&nbsp; 7 | &nbsp;&nbsp; .88 | &nbsp;&nbsp; .70 | 2.08 |
| 12/31/2020 | 15.88 | &nbsp;&nbsp; .18 | 1.13 | 1.31 | &nbsp;&nbsp; (.19)<br>| &nbsp;&nbsp; (.38)<br>| &nbsp;&nbsp; (.57)<br>| 16.62 | 8.78 | &nbsp;&nbsp; 2 | &nbsp;&nbsp; .90 | &nbsp;&nbsp; .90 | 1.23 |
| **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  |
| 6/30/2025<sup>4,5</sup> <br>| 15.49 | &nbsp;&nbsp; .15 | 1.81 | 1.96 | &nbsp;&nbsp; (.03)<br>| &nbsp;&nbsp; (.61)<br>| &nbsp;&nbsp; (.64)<br>| 16.81 | 12.88 <br><sup>6</sup><br>| &nbsp;&nbsp; 1060 | &nbsp;&nbsp; .77 <br><sup>7</sup><br>| &nbsp;&nbsp; .67 <br><sup>7</sup><br>| 1.94 <br><sup>7</sup><br>|
| 12/31/2024 | 13.81 | &nbsp;&nbsp; .23 | 1.71 | 1.94 | &nbsp;&nbsp; (.26)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.26)<br>| 15.49 | 14.00 | &nbsp;&nbsp; 1015 | &nbsp;&nbsp; .77 | &nbsp;&nbsp; .67 | 1.51 |
| 12/31/2023 | 11.64 | &nbsp;&nbsp; .23 | 2.18 | 2.41 | &nbsp;&nbsp; (.24)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.24)<br>| 13.81 | 20.88 | &nbsp;&nbsp; 1040 | &nbsp;&nbsp; .77 | &nbsp;&nbsp; .66 | 1.83 |
| 12/31/2022 | 18.38 | &nbsp;&nbsp; .28 | &nbsp;&nbsp; (3.26)<br>| &nbsp;&nbsp; (2.98)<br>| &nbsp;&nbsp; (.31)<br>| &nbsp;&nbsp; (3.45)<br>| &nbsp;&nbsp; (3.76)<br>| 11.64 | &nbsp;&nbsp; (17.33)<br>| &nbsp;&nbsp; 983 | &nbsp;&nbsp; .82 | &nbsp;&nbsp; .66 | 2.11 |
| 12/31/2021 | 16.63 | &nbsp;&nbsp; .33 | 2.11 | 2.44 | &nbsp;&nbsp; (.29)<br>| &nbsp;&nbsp; (.40)<br>| &nbsp;&nbsp; (.69)<br>| 18.38 | 14.78 | &nbsp;&nbsp; 1340 | &nbsp;&nbsp; .88 | &nbsp;&nbsp; .73 | 1.85 |
| 12/31/2020 | 15.89 | &nbsp;&nbsp; .18 | 1.13 | 1.31 | &nbsp;&nbsp; (.19)<br>| &nbsp;&nbsp; (.38)<br>| &nbsp;&nbsp; (.57)<br>| 16.63 | 8.73 | &nbsp;&nbsp; 1349 | &nbsp;&nbsp; .91 | &nbsp;&nbsp; .91 | 1.23 |
| **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  |
| 6/30/2025<sup>4,5</sup> <br>| 15.08 | &nbsp;&nbsp; .13 | 1.76 | 1.89 | &nbsp;&nbsp; (.03)<br>| &nbsp;&nbsp; (.61)<br>| &nbsp;&nbsp; (.64)<br>| 16.33 | 12.73 <br><sup>6</sup><br>| &nbsp;&nbsp; 315 | 1.02 <br><sup>7</sup><br>| &nbsp;&nbsp; .92 <br><sup>7</sup><br>| 1.72 <br><sup>7</sup><br>|
| 12/31/2024 | 13.46 | &nbsp;&nbsp; .18 | 1.67 | 1.85 | &nbsp;&nbsp; (.23)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.23)<br>| 15.08 | 13.70 | &nbsp;&nbsp; 268 | 1.02 | &nbsp;&nbsp; .92 | 1.25 |
| 12/31/2023 | 11.35 | &nbsp;&nbsp; .19 | 2.14 | 2.33 | &nbsp;&nbsp; (.22)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.22)<br>| 13.46 | 20.65 | &nbsp;&nbsp; 235 | 1.02 | &nbsp;&nbsp; .91 | 1.57 |
| 12/31/2022 | 18.04 | &nbsp;&nbsp; .24 | &nbsp;&nbsp; (3.20)<br>| &nbsp;&nbsp; (2.96)<br>| &nbsp;&nbsp; (.28)<br>| &nbsp;&nbsp; (3.45)<br>| &nbsp;&nbsp; (3.73)<br>| 11.35 | &nbsp;&nbsp; (17.57)<br>| &nbsp;&nbsp; 188 | 1.07 | &nbsp;&nbsp; .91 | 1.86 |
| 12/31/2021 | 16.35 | &nbsp;&nbsp; .29 | 2.06 | 2.35 | &nbsp;&nbsp; (.26)<br>| &nbsp;&nbsp; (.40)<br>| &nbsp;&nbsp; (.66)<br>| 18.04 | 14.46 | &nbsp;&nbsp; 225 | 1.13 | &nbsp;&nbsp; .97 | 1.65 |
| 12/31/2020 | 15.63 | &nbsp;&nbsp; .14 | 1.12 | 1.26 | &nbsp;&nbsp; (.16)<br>| &nbsp;&nbsp; (.38)<br>| &nbsp;&nbsp; (.54)<br>| 16.35 | 8.55 | &nbsp;&nbsp; 166 | 1.16 | 1.16 | &nbsp;&nbsp; .97 |

---

Refer to the end of the table(s) for footnote(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **361** | American Funds Insurance Series |

---

------

Financial highlights (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | **Net asset** <br>**value,** <br>**end** <br>**of year** | **Total return** | **Net assets,** <br>**end of year** <br>**(in millions)** | **Ratio of** <br>**expenses** <br>**to average** <br>**net assets**<sup>3</sup>  | **Ratio of** <br>**net income** <br>**(loss)** <br>**to average** <br>**net assets** |
| **Year ended**  | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Net** <br>**investment** <br>**income** <br>**(loss)**<br>| **Net gains** <br>**(losses) on** <br>**securities** <br>**(both** <br>**realized and** <br>**unrealized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**(from net** <br>**investment** <br>**income)**<br>| **Distributions** <br>**(from capital** <br>**gains)**<br>| **Total** <br>**dividends** <br>**and** <br>**distributions**<br>| **Net asset** <br>**value,** <br>**end** <br>**of year** | **Total return** | **Net assets,** <br>**end of year** <br>**(in millions)** | **Ratio of** <br>**expenses** <br>**to average** <br>**net assets**<sup>3</sup>  | **Ratio of** <br>**net income** <br>**(loss)** <br>**to average** <br>**net assets** |
| **Growth-Income Fund** | **Growth-Income Fund** | **Growth-Income Fund** | **Growth-Income Fund** | **Growth-Income Fund** | **Growth-Income Fund** | **Growth-Income Fund** | **Growth-Income Fund** | **Growth-Income Fund** | **Growth-Income Fund** | **Growth-Income Fund** | **Growth-Income Fund** | **Growth-Income Fund** |
| **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  |
| 6/30/2025<sup>4,5</sup> <br>| $69.59 | &nbsp;&nbsp; $.43 | &nbsp;&nbsp; $4.69 | &nbsp;&nbsp; $5.12 | &nbsp;&nbsp; $(.18)<br>| &nbsp;&nbsp; $(12.13)<br>| &nbsp;&nbsp; $(12.31)<br>| &nbsp;&nbsp; $62.40 | 8.13 %<sup>6</sup><br>| &nbsp;&nbsp; $25262 | &nbsp;&nbsp; .28 %<sup>7</sup><br>| 1.27 %<sup>7</sup><br>|
| 12/31/2024 | 59.26 | &nbsp;&nbsp; .84 | 13.33 | 14.17 | &nbsp;&nbsp; (.89)<br>| &nbsp;&nbsp; (2.95)<br>| &nbsp;&nbsp; (3.84)<br>| 69.59 | 24.55 | &nbsp;&nbsp; 24476 | &nbsp;&nbsp; .28 | 1.28 |
| 12/31/2023 | 50.21 | &nbsp;&nbsp; .86 | 11.96 | 12.82 | &nbsp;&nbsp; (.88)<br>| &nbsp;&nbsp; (2.89)<br>| &nbsp;&nbsp; (3.77)<br>| 59.26 | 26.47 | &nbsp;&nbsp; 22319 | &nbsp;&nbsp; .29 | 1.60 |
| 12/31/2022 | 67.35 | &nbsp;&nbsp; .85 | &nbsp;&nbsp; (11.50)<br>| &nbsp;&nbsp; (10.65)<br>| &nbsp;&nbsp; (.83)<br>| &nbsp;&nbsp; (5.66)<br>| &nbsp;&nbsp; (6.49)<br>| 50.21 | &nbsp;&nbsp; (16.28)<br>| &nbsp;&nbsp; 19692 | &nbsp;&nbsp; .29 | 1.54 |
| 12/31/2021 | 55.38 | &nbsp;&nbsp; .79 | 12.64 | 13.43 | &nbsp;&nbsp; (.86)<br>| &nbsp;&nbsp; (.60)<br>| &nbsp;&nbsp; (1.46)<br>| 67.35 | 24.42 | &nbsp;&nbsp; 25507 | &nbsp;&nbsp; .29 | 1.28 |
| 12/31/2020 | 50.71 | &nbsp;&nbsp; .75 | 6.02 | 6.77 | &nbsp;&nbsp; (.80)<br>| &nbsp;&nbsp; (1.30)<br>| &nbsp;&nbsp; (2.10)<br>| 55.38 | 13.81 | &nbsp;&nbsp; 22903 | &nbsp;&nbsp; .29 | 1.52 |
| **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  |
| 6/30/2025<sup>4,5</sup> <br>| 69.10 | &nbsp;&nbsp; .34 | 4.64 | 4.98 | &nbsp;&nbsp; (.15)<br>| &nbsp;&nbsp; (12.13)<br>| &nbsp;&nbsp; (12.28)<br>| 61.80 | 7.98 <br><sup>6</sup><br>| &nbsp;&nbsp; 48 | &nbsp;&nbsp; .53 <br><sup>7</sup><br>| 1.02 <br><sup>7</sup><br>|
| 12/31/2024 | 58.88 | &nbsp;&nbsp; .67 | 13.24 | 13.91 | &nbsp;&nbsp; (.74)<br>| &nbsp;&nbsp; (2.95)<br>| &nbsp;&nbsp; (3.69)<br>| 69.10 | 24.25 | &nbsp;&nbsp; 44 | &nbsp;&nbsp; .53 | 1.02 |
| 12/31/2023 | 49.93 | &nbsp;&nbsp; .72 | 11.87 | 12.59 | &nbsp;&nbsp; (.75)<br>| &nbsp;&nbsp; (2.89)<br>| &nbsp;&nbsp; (3.64)<br>| 58.88 | 26.12 | &nbsp;&nbsp; 35 | &nbsp;&nbsp; .54 | 1.35 |
| 12/31/2022 | 67.02 | &nbsp;&nbsp; .71 | &nbsp;&nbsp; (11.44)<br>| &nbsp;&nbsp; (10.73)<br>| &nbsp;&nbsp; (.70)<br>| &nbsp;&nbsp; (5.66)<br>| &nbsp;&nbsp; (6.36)<br>| 49.93 | &nbsp;&nbsp; (16.48)<br>| &nbsp;&nbsp; 28 | &nbsp;&nbsp; .54 | 1.30 |
| 12/31/2021 | 55.16 | &nbsp;&nbsp; .65 | 12.55 | 13.20 | &nbsp;&nbsp; (.74)<br>| &nbsp;&nbsp; (.60)<br>| &nbsp;&nbsp; (1.34)<br>| 67.02 | 24.08 | &nbsp;&nbsp; 32 | &nbsp;&nbsp; .53 | 1.04 |
| 12/31/2020 | 50.54 | &nbsp;&nbsp; .63 | 5.99 | 6.62 | &nbsp;&nbsp; (.70)<br>| &nbsp;&nbsp; (1.30)<br>| &nbsp;&nbsp; (2.00)<br>| 55.16 | 13.55 | &nbsp;&nbsp; 16 | &nbsp;&nbsp; .54 | 1.28 |
| **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  |
| 6/30/2025<sup>4,5</sup> <br>| 68.38 | &nbsp;&nbsp; .33 | 4.60 | 4.93 | &nbsp;&nbsp; (.14)<br>| &nbsp;&nbsp; (12.13)<br>| &nbsp;&nbsp; (12.27)<br>| 61.04 | 8.00 <br><sup>6</sup><br>| &nbsp;&nbsp; 14111 | &nbsp;&nbsp; .53 <br><sup>7</sup><br>| 1.02 <br><sup>7</sup><br>|
| 12/31/2024 | 58.30 | &nbsp;&nbsp; .66 | 13.10 | 13.76 | &nbsp;&nbsp; (.73)<br>| &nbsp;&nbsp; (2.95)<br>| &nbsp;&nbsp; (3.68)<br>| 68.38 | 24.23 | &nbsp;&nbsp; 13882 | &nbsp;&nbsp; .53 | 1.03 |
| 12/31/2023 | 49.46 | &nbsp;&nbsp; .72 | 11.75 | 12.47 | &nbsp;&nbsp; (.74)<br>| &nbsp;&nbsp; (2.89)<br>| &nbsp;&nbsp; (3.63)<br>| 58.30 | 26.14 | &nbsp;&nbsp; 12894 | &nbsp;&nbsp; .54 | 1.35 |
| 12/31/2022 | 66.44 | &nbsp;&nbsp; .70 | &nbsp;&nbsp; (11.33)<br>| &nbsp;&nbsp; (10.63)<br>| &nbsp;&nbsp; (.69)<br>| &nbsp;&nbsp; (5.66)<br>| &nbsp;&nbsp; (6.35)<br>| 49.46 | &nbsp;&nbsp; (16.50)<br>| &nbsp;&nbsp; 11508 | &nbsp;&nbsp; .54 | 1.29 |
| 12/31/2021 | 54.66 | &nbsp;&nbsp; .63 | 12.45 | 13.08 | &nbsp;&nbsp; (.70)<br>| &nbsp;&nbsp; (.60)<br>| &nbsp;&nbsp; (1.30)<br>| 66.44 | 24.10 | &nbsp;&nbsp; 15319 | &nbsp;&nbsp; .54 | 1.03 |
| 12/31/2020 | 50.08 | &nbsp;&nbsp; .62 | 5.93 | 6.55 | &nbsp;&nbsp; (.67)<br>| &nbsp;&nbsp; (1.30)<br>| &nbsp;&nbsp; (1.97)<br>| 54.66 | 13.54 | &nbsp;&nbsp; 14012 | &nbsp;&nbsp; .54 | 1.27 |
| **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  |
| 6/30/2025<sup>4,5</sup> <br>| 69.76 | &nbsp;&nbsp; .37 | 4.69 | 5.06 | &nbsp;&nbsp; (.15)<br>| &nbsp;&nbsp; (12.13)<br>| &nbsp;&nbsp; (12.28)<br>| 62.54 | 8.02 <br><sup>6</sup><br>| &nbsp;&nbsp; 155 | &nbsp;&nbsp; .46 <br><sup>7</sup><br>| 1.09 <br><sup>7</sup><br>|
| 12/31/2024 | 59.40 | &nbsp;&nbsp; .72 | 13.36 | 14.08 | &nbsp;&nbsp; (.77)<br>| &nbsp;&nbsp; (2.95)<br>| &nbsp;&nbsp; (3.72)<br>| 69.76 | 24.32 | &nbsp;&nbsp; 155 | &nbsp;&nbsp; .46 | 1.10 |
| 12/31/2023 | 50.33 | &nbsp;&nbsp; .77 | 11.97 | 12.74 | &nbsp;&nbsp; (.78)<br>| &nbsp;&nbsp; (2.89)<br>| &nbsp;&nbsp; (3.67)<br>| 59.40 | 26.23 | &nbsp;&nbsp; 142 | &nbsp;&nbsp; .47 | 1.42 |
| 12/31/2022 | 67.48 | &nbsp;&nbsp; .75 | &nbsp;&nbsp; (11.51)<br>| &nbsp;&nbsp; (10.76)<br>| &nbsp;&nbsp; (.73)<br>| &nbsp;&nbsp; (5.66)<br>| &nbsp;&nbsp; (6.39)<br>| 50.33 | &nbsp;&nbsp; (16.43)<br>| &nbsp;&nbsp; 125 | &nbsp;&nbsp; .47 | 1.36 |
| 12/31/2021 | 55.49 | &nbsp;&nbsp; .68 | 12.65 | 13.33 | &nbsp;&nbsp; (.74)<br>| &nbsp;&nbsp; (.60)<br>| &nbsp;&nbsp; (1.34)<br>| 67.48 | 24.18 | &nbsp;&nbsp; 166 | &nbsp;&nbsp; .47 | 1.10 |
| 12/31/2020 | 50.81 | &nbsp;&nbsp; .66 | 6.02 | 6.68 | &nbsp;&nbsp; (.70)<br>| &nbsp;&nbsp; (1.30)<br>| &nbsp;&nbsp; (2.00)<br>| 55.49 | 13.60 | &nbsp;&nbsp; 154 | &nbsp;&nbsp; .47 | 1.34 |
| **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  |
| 6/30/2025<sup>4,5</sup> <br>| 67.14 | &nbsp;&nbsp; .25 | 4.49 | 4.74 | &nbsp;&nbsp; (.12)<br>| &nbsp;&nbsp; (12.13)<br>| &nbsp;&nbsp; (12.25)<br>| 59.63 | 7.85 <br><sup>6</sup><br>| &nbsp;&nbsp; 2986 | &nbsp;&nbsp; .78 <br><sup>7</sup><br>| &nbsp;&nbsp; .77 <br><sup>7</sup><br>|
| 12/31/2024 | 57.34 | &nbsp;&nbsp; .49 | 12.86 | 13.35 | &nbsp;&nbsp; (.60)<br>| &nbsp;&nbsp; (2.95)<br>| &nbsp;&nbsp; (3.55)<br>| 67.14 | 23.93 | &nbsp;&nbsp; 2698 | &nbsp;&nbsp; .78 | &nbsp;&nbsp; .78 |
| 12/31/2023 | 48.72 | &nbsp;&nbsp; .57 | 11.57 | 12.14 | &nbsp;&nbsp; (.63)<br>| &nbsp;&nbsp; (2.89)<br>| &nbsp;&nbsp; (3.52)<br>| 57.34 | 25.82 | &nbsp;&nbsp; 2062 | &nbsp;&nbsp; .79 | 1.10 |
| 12/31/2022 | 65.57 | &nbsp;&nbsp; .56 | &nbsp;&nbsp; (11.18)<br>| &nbsp;&nbsp; (10.62)<br>| &nbsp;&nbsp; (.57)<br>| &nbsp;&nbsp; (5.66)<br>| &nbsp;&nbsp; (6.23)<br>| 48.72 | &nbsp;&nbsp; (16.70)<br>| &nbsp;&nbsp; 1630 | &nbsp;&nbsp; .79 | 1.05 |
| 12/31/2021 | 53.99 | &nbsp;&nbsp; .48 | 12.28 | 12.76 | &nbsp;&nbsp; (.58)<br>| &nbsp;&nbsp; (.60)<br>| &nbsp;&nbsp; (1.18)<br>| 65.57 | 23.80 | &nbsp;&nbsp; 1928 | &nbsp;&nbsp; .79 | &nbsp;&nbsp; .79 |
| 12/31/2020 | 49.52 | &nbsp;&nbsp; .49 | 5.85 | 6.34 | &nbsp;&nbsp; (.57)<br>| &nbsp;&nbsp; (1.30)<br>| &nbsp;&nbsp; (1.87)<br>| 53.99 | 13.25 | &nbsp;&nbsp; 1407 | &nbsp;&nbsp; .79 | 1.02 |

---

Refer to the end of the table(s) for footnote(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **362** |

---

------

Financial highlights (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | **Net asset** <br>**value,** <br>**end** <br>**of year** | **Total return**<sup>2</sup>  | **Net assets,** <br>**end of year** <br>**(in millions)** | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets before** <br>**waivers/** <br>**reimbursements**<sup>3</sup>  | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets after** <br>**waivers/** <br>**reimbursements**<sup>2,3</sup>  | **Ratio of** <br>**net income** <br>**(loss)** <br>**to average** <br>**net assets**<sup>2</sup>  |
| **Year ended**  | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Net** <br>**investment** <br>**income** <br>**(loss)**<br>| **Net gains** <br>**(losses) on** <br>**securities** <br>**(both** <br>**realized and** <br>**unrealized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**(from net** <br>**investment** <br>**income)**<br>| **Distributions** <br>**(from capital** <br>**gains)**<br>| **Total** <br>**dividends** <br>**and** <br>**distributions**<br>| **Net asset** <br>**value,** <br>**end** <br>**of year** | **Total return**<sup>2</sup>  | **Net assets,** <br>**end of year** <br>**(in millions)** | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets before** <br>**waivers/** <br>**reimbursements**<sup>3</sup>  | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets after** <br>**waivers/** <br>**reimbursements**<sup>2,3</sup>  | **Ratio of** <br>**net income** <br>**(loss)** <br>**to average** <br>**net assets**<sup>2</sup>  |
| **International Growth and Income Fund** | **International Growth and Income Fund** | **International Growth and Income Fund** | **International Growth and Income Fund** | **International Growth and Income Fund** | **International Growth and Income Fund** | **International Growth and Income Fund** | **International Growth and Income Fund** | **International Growth and Income Fund** | **International Growth and Income Fund** | **International Growth and Income Fund** | **International Growth and Income Fund** | **International Growth and Income Fund** | **International Growth and Income Fund** |
| **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  |
| 6/30/2025<sup>4,5</sup> <br>| $10.19 | &nbsp;&nbsp; $.23 | &nbsp;&nbsp; $1.95 | &nbsp;&nbsp; $2.18 | &nbsp;&nbsp; $(.05)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(.05)<br>| &nbsp;&nbsp; $12.32 | 21.40 %<sup>6</sup><br>| &nbsp;&nbsp; $31 | &nbsp;&nbsp; .54 %<sup>7</sup><br>| &nbsp;&nbsp; .54 %<sup>7</sup><br>| 4.06 %<sup>7</sup><br>|
| 12/31/2024 | 10.10 | &nbsp;&nbsp; .28 | &nbsp;&nbsp; .10 | &nbsp;&nbsp; .38 | &nbsp;&nbsp; (.29)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.29)<br>| 10.19 | 3.64 | &nbsp;&nbsp; 17 | &nbsp;&nbsp; .57 | &nbsp;&nbsp; .57 | 2.62 |
| 12/31/2023 | 8.94 | &nbsp;&nbsp; .27 | 1.15 | 1.42 | &nbsp;&nbsp; (.26)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.26)<br>| 10.10 | 16.08 | &nbsp;&nbsp; 15 | &nbsp;&nbsp; .56 | &nbsp;&nbsp; .55 | 2.82 |
| 12/31/2022 | 19.62 | &nbsp;&nbsp; .39 | &nbsp;&nbsp; (3.09)<br>| &nbsp;&nbsp; (2.70)<br>| &nbsp;&nbsp; (.28)<br>| &nbsp;&nbsp; (7.70)<br>| &nbsp;&nbsp; (7.98)<br>| 8.94 | &nbsp;&nbsp; (15.00)<br>| &nbsp;&nbsp; 13 | &nbsp;&nbsp; .64 | &nbsp;&nbsp; .54 | 3.29 |
| 12/31/2021 | 19.01 | &nbsp;&nbsp; .54 | &nbsp;&nbsp; .53 | 1.07 | &nbsp;&nbsp; (.46)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.46)<br>| 19.62 | 5.64 | &nbsp;&nbsp; 30 | &nbsp;&nbsp; .67 | &nbsp;&nbsp; .67 | 2.70 |
| 12/31/2020 | 18.18 | &nbsp;&nbsp; .27 | &nbsp;&nbsp; .85 | 1.12 | &nbsp;&nbsp; (.29)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.29)<br>| 19.01 | 6.24 | &nbsp;&nbsp; 1120 | &nbsp;&nbsp; .68 | &nbsp;&nbsp; .68 | 1.70 |
| **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  |
| 6/30/2025<sup>4,5</sup> <br>| 9.91 | &nbsp;&nbsp; .19 | 1.90 | 2.09 | &nbsp;&nbsp; (.04)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.04)<br>| 11.96 | 21.15 <br><sup>6</sup><br>| &nbsp;&nbsp; 8 | &nbsp;&nbsp; .79 <br><sup>7</sup><br>| &nbsp;&nbsp; .79 <br><sup>7</sup><br>| 3.60 <br><sup>7</sup><br>|
| 12/31/2024 | 9.83 | &nbsp;&nbsp; .24 | &nbsp;&nbsp; .10 | &nbsp;&nbsp; .34 | &nbsp;&nbsp; (.26)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.26)<br>| 9.91 | 3.39 | &nbsp;&nbsp; 6 | &nbsp;&nbsp; .82 | &nbsp;&nbsp; .82 | 2.34 |
| 12/31/2023 | 8.70 | &nbsp;&nbsp; .24 | 1.13 | 1.37 | &nbsp;&nbsp; (.24)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.24)<br>| 9.83 | 15.92 | &nbsp;&nbsp; 6 | &nbsp;&nbsp; .81 | &nbsp;&nbsp; .80 | 2.54 |
| 12/31/2022 | 19.39 | &nbsp;&nbsp; .35 | &nbsp;&nbsp; (3.05)<br>| &nbsp;&nbsp; (2.70)<br>| &nbsp;&nbsp; (.29)<br>| &nbsp;&nbsp; (7.70)<br>| &nbsp;&nbsp; (7.99)<br>| 8.70 | &nbsp;&nbsp; (15.31)<br>| &nbsp;&nbsp; 5 | &nbsp;&nbsp; .88 | &nbsp;&nbsp; .79 | 3.15 |
| 12/31/2021 | 18.97 | &nbsp;&nbsp; .50 | &nbsp;&nbsp; .52 | 1.02 | &nbsp;&nbsp; (.60)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.60)<br>| 19.39 | 5.39 | &nbsp;&nbsp; 6 | &nbsp;&nbsp; .94 | &nbsp;&nbsp; .92 | 2.50 |
| 12/31/2020 | 18.15 | &nbsp;&nbsp; .22 | &nbsp;&nbsp; .85 | 1.07 | &nbsp;&nbsp; (.25)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.25)<br>| 18.97 | 5.98 | &nbsp;&nbsp; 3 | &nbsp;&nbsp; .93 | &nbsp;&nbsp; .93 | 1.38 |
| **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  |
| 6/30/2025<sup>4,5</sup> <br>| 9.91 | &nbsp;&nbsp; .19 | 1.90 | 2.09 | &nbsp;&nbsp; (.04)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.04)<br>| 11.96 | 21.15 <br><sup>6</sup><br>| &nbsp;&nbsp; 164 | &nbsp;&nbsp; .79 <br><sup>7</sup><br>| &nbsp;&nbsp; .79 <br><sup>7</sup><br>| 3.53 <br><sup>7</sup><br>|
| 12/31/2024 | 9.82 | &nbsp;&nbsp; .25 | &nbsp;&nbsp; .10 | &nbsp;&nbsp; .35 | &nbsp;&nbsp; (.26)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.26)<br>| 9.91 | 3.48 | &nbsp;&nbsp; 150 | &nbsp;&nbsp; .82 | &nbsp;&nbsp; .82 | 2.40 |
| 12/31/2023 | 8.70 | &nbsp;&nbsp; .24 | 1.12 | 1.36 | &nbsp;&nbsp; (.24)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.24)<br>| 9.82 | 15.76 | &nbsp;&nbsp; 165 | &nbsp;&nbsp; .81 | &nbsp;&nbsp; .80 | 2.54 |
| 12/31/2022 | 19.38 | &nbsp;&nbsp; .36 | &nbsp;&nbsp; (3.05)<br>| &nbsp;&nbsp; (2.69)<br>| &nbsp;&nbsp; (.29)<br>| &nbsp;&nbsp; (7.70)<br>| &nbsp;&nbsp; (7.99)<br>| 8.70 | &nbsp;&nbsp; (15.25)<br>| &nbsp;&nbsp; 162 | &nbsp;&nbsp; .88 | &nbsp;&nbsp; .78 | 3.24 |
| 12/31/2021 | 18.95 | &nbsp;&nbsp; .48 | &nbsp;&nbsp; .53 | 1.01 | &nbsp;&nbsp; (.58)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.58)<br>| 19.38 | 5.37 | &nbsp;&nbsp; 211 | &nbsp;&nbsp; .93 | &nbsp;&nbsp; .92 | 2.44 |
| 12/31/2020 | 18.12 | &nbsp;&nbsp; .23 | &nbsp;&nbsp; .85 | 1.08 | &nbsp;&nbsp; (.25)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.25)<br>| 18.95 | 6.01 | &nbsp;&nbsp; 221 | &nbsp;&nbsp; .93 | &nbsp;&nbsp; .93 | 1.43 |
| **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  |
| 6/30/2025<sup>4,5</sup> <br>| 9.74 | &nbsp;&nbsp; .18 | 1.87 | 2.05 | &nbsp;&nbsp; (.04)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.04)<br>| 11.75 | 21.07 <br><sup>6</sup><br>| &nbsp;&nbsp; 193 | 1.04 <br><sup>7</sup><br>| 1.04 <br><sup>7</sup><br>| 3.36 <br><sup>7</sup><br>|
| 12/31/2024 | 9.67 | &nbsp;&nbsp; .22 | &nbsp;&nbsp; .09 | &nbsp;&nbsp; .31 | &nbsp;&nbsp; (.24)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.24)<br>| 9.74 | 3.11 | &nbsp;&nbsp; 150 | 1.07 | 1.07 | 2.13 |
| 12/31/2023 | 8.56 | &nbsp;&nbsp; .21 | 1.12 | 1.33 | &nbsp;&nbsp; (.22)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.22)<br>| 9.67 | 15.66 | &nbsp;&nbsp; 143 | 1.06 | 1.05 | 2.29 |
| 12/31/2022 | 19.23 | &nbsp;&nbsp; .33 | &nbsp;&nbsp; (3.04)<br>| &nbsp;&nbsp; (2.71)<br>| &nbsp;&nbsp; (.26)<br>| &nbsp;&nbsp; (7.70)<br>| &nbsp;&nbsp; (7.96)<br>| 8.56 | &nbsp;&nbsp; (15.52)<br>| &nbsp;&nbsp; 121 | 1.13 | 1.04 | 3.01 |
| 12/31/2021 | 18.82 | &nbsp;&nbsp; .44 | &nbsp;&nbsp; .51 | &nbsp;&nbsp; .95 | &nbsp;&nbsp; (.54)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.54)<br>| 19.23 | 5.09 | &nbsp;&nbsp; 132 | 1.18 | 1.17 | 2.21 |
| 12/31/2020 | 18.01 | &nbsp;&nbsp; .19 | &nbsp;&nbsp; .83 | 1.02 | &nbsp;&nbsp; (.21)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.21)<br>| 18.82 | 5.73 | &nbsp;&nbsp; 112 | 1.18 | 1.18 | 1.19 |

---

Refer to the end of the table(s) for footnote(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **363** | American Funds Insurance Series |

---

------

Financial highlights (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | **Net asset** <br>**value,** <br>**end** <br>**of year** | **Total return**<sup>2</sup>  | **Net assets,** <br>**end of year** <br>**(in millions)** | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets before** <br>**waivers/** <br>**reimbursements**<sup>3</sup>  | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets after** <br>**waivers/** <br>**reimbursements**<sup>2,3</sup>  | **Ratio of** <br>**net income** <br>**(loss)** <br>**to average** <br>**net assets**<sup>2</sup>  |
| **Year ended**  | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Net** <br>**investment** <br>**income** <br>**(loss)**<br>| **Net gains** <br>**(losses) on** <br>**securities** <br>**(both** <br>**realized and** <br>**unrealized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**(from net** <br>**investment** <br>**income)**<br>| **Distributions** <br>**(from capital** <br>**gains)**<br>| **Total** <br>**dividends** <br>**and** <br>**distributions**<br>| **Net asset** <br>**value,** <br>**end** <br>**of year** | **Total return**<sup>2</sup>  | **Net assets,** <br>**end of year** <br>**(in millions)** | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets before** <br>**waivers/** <br>**reimbursements**<sup>3</sup>  | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets after** <br>**waivers/** <br>**reimbursements**<sup>2,3</sup>  | **Ratio of** <br>**net income** <br>**(loss)** <br>**to average** <br>**net assets**<sup>2</sup>  |
| **Capital Income Builder** | **Capital Income Builder** | **Capital Income Builder** | **Capital Income Builder** | **Capital Income Builder** | **Capital Income Builder** | **Capital Income Builder** | **Capital Income Builder** | **Capital Income Builder** | **Capital Income Builder** | **Capital Income Builder** | **Capital Income Builder** | **Capital Income Builder** | **Capital Income Builder** |
| **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  |
| 6/30/2025<sup>4,5</sup> <br>| $12.39 | &nbsp;&nbsp; $.25 | &nbsp;&nbsp; $1.27 | &nbsp;&nbsp; $1.52 | &nbsp;&nbsp; $(.16)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(.16)<br>| &nbsp;&nbsp; $13.75 | 12.33 %<sup>6</sup><br>| &nbsp;&nbsp; $793 | &nbsp;&nbsp; .40 %<sup>7</sup><br>| &nbsp;&nbsp; .27 %<sup>7</sup><br>| 3.88 %<sup>7</sup><br>|
| 12/31/2024 | 11.63 | &nbsp;&nbsp; .42 | &nbsp;&nbsp; .79 | 1.21 | &nbsp;&nbsp; (.45)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.45)<br>| 12.39 | 10.45 | &nbsp;&nbsp; 709 | &nbsp;&nbsp; .40 | &nbsp;&nbsp; .27 | 3.44 |
| 12/31/2023 | 10.99 | &nbsp;&nbsp; .41 | &nbsp;&nbsp; .59 | 1.00 | &nbsp;&nbsp; (.36)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.36)<br>| 11.63 | 9.28 | &nbsp;&nbsp; 660 | &nbsp;&nbsp; .40 | &nbsp;&nbsp; .26 | 3.68 |
| 12/31/2022 | 12.17 | &nbsp;&nbsp; .37 | &nbsp;&nbsp; (1.21)<br>| &nbsp;&nbsp; (.84)<br>| &nbsp;&nbsp; (.34)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.34)<br>| 10.99 | &nbsp;&nbsp; (6.90)<br>| &nbsp;&nbsp; 586 | &nbsp;&nbsp; .44 | &nbsp;&nbsp; .26 | 3.31 |
| 12/31/2021 | 10.87 | &nbsp;&nbsp; .37 | 1.28 | 1.65 | &nbsp;&nbsp; (.35)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.35)<br>| 12.17 | 15.31 | &nbsp;&nbsp; 563 | &nbsp;&nbsp; .53 | &nbsp;&nbsp; .27 | 3.19 |
| 12/31/2020 | 10.73 | &nbsp;&nbsp; .31 | &nbsp;&nbsp; .15 | &nbsp;&nbsp; .46 | &nbsp;&nbsp; (.32)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.32)<br>| 10.87 | 4.64 | &nbsp;&nbsp; 621 | &nbsp;&nbsp; .53 | &nbsp;&nbsp; .35 | 3.07 |
| **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  |
| 6/30/2025<sup>4,5</sup> <br>| 12.38 | &nbsp;&nbsp; .23 | 1.26 | 1.49 | &nbsp;&nbsp; (.14)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.14)<br>| 13.73 | 12.12 <br><sup>6</sup><br>| &nbsp;&nbsp; 14 | &nbsp;&nbsp; .65 <br><sup>7</sup><br>| &nbsp;&nbsp; .52 <br><sup>7</sup><br>| 3.63 <br><sup>7</sup><br>|
| 12/31/2024 | 11.62 | &nbsp;&nbsp; .39 | &nbsp;&nbsp; .79 | 1.18 | &nbsp;&nbsp; (.42)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.42)<br>| 12.38 | 10.19 | &nbsp;&nbsp; 13 | &nbsp;&nbsp; .65 | &nbsp;&nbsp; .52 | 3.17 |
| 12/31/2023 | 10.98 | &nbsp;&nbsp; .38 | &nbsp;&nbsp; .59 | &nbsp;&nbsp; .97 | &nbsp;&nbsp; (.33)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.33)<br>| 11.62 | 9.01 | &nbsp;&nbsp; 10 | &nbsp;&nbsp; .65 | &nbsp;&nbsp; .51 | 3.42 |
| 12/31/2022 | 12.15 | &nbsp;&nbsp; .34 | &nbsp;&nbsp; (1.19)<br>| &nbsp;&nbsp; (.85)<br>| &nbsp;&nbsp; (.32)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.32)<br>| 10.98 | &nbsp;&nbsp; (7.06)<br>| &nbsp;&nbsp; 10 | &nbsp;&nbsp; .69 | &nbsp;&nbsp; .52 | 3.06 |
| 12/31/2021 | 10.86 | &nbsp;&nbsp; .34 | 1.27 | 1.61 | &nbsp;&nbsp; (.32)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.32)<br>| 12.15 | 14.95 | &nbsp;&nbsp; 10 | &nbsp;&nbsp; .78 | &nbsp;&nbsp; .52 | 2.94 |
| 12/31/2020 | 10.72 | &nbsp;&nbsp; .28 | &nbsp;&nbsp; .16 | &nbsp;&nbsp; .44 | &nbsp;&nbsp; (.30)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.30)<br>| 10.86 | 4.38 | &nbsp;&nbsp; 6 | &nbsp;&nbsp; .78 | &nbsp;&nbsp; .60 | 2.81 |
| **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  |
| 6/30/2025<sup>4,5</sup> <br>| 12.38 | &nbsp;&nbsp; .23 | 1.27 | 1.50 | &nbsp;&nbsp; (.14)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.14)<br>| 13.74 | 12.20 <br><sup>6</sup><br>| &nbsp;&nbsp; 20 | &nbsp;&nbsp; .65 <br><sup>7</sup><br>| &nbsp;&nbsp; .52 <br><sup>7</sup><br>| 3.64 <br><sup>7</sup><br>|
| 12/31/2024 | 11.62 | &nbsp;&nbsp; .39 | &nbsp;&nbsp; .79 | 1.18 | &nbsp;&nbsp; (.42)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.42)<br>| 12.38 | 10.19 | &nbsp;&nbsp; 18 | &nbsp;&nbsp; .65 | &nbsp;&nbsp; .52 | 3.18 |
| 12/31/2023 | 10.98 | &nbsp;&nbsp; .38 | &nbsp;&nbsp; .59 | &nbsp;&nbsp; .97 | &nbsp;&nbsp; (.33)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.33)<br>| 11.62 | 9.01 | &nbsp;&nbsp; 15 | &nbsp;&nbsp; .65 | &nbsp;&nbsp; .51 | 3.43 |
| 12/31/2022 | 12.16 | &nbsp;&nbsp; .34 | &nbsp;&nbsp; (1.20)<br>| &nbsp;&nbsp; (.86)<br>| &nbsp;&nbsp; (.32)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.32)<br>| 10.98 | &nbsp;&nbsp; (7.13)<br>| &nbsp;&nbsp; 13 | &nbsp;&nbsp; .69 | &nbsp;&nbsp; .51 | 3.06 |
| 12/31/2021 | 10.87 | &nbsp;&nbsp; .34 | 1.27 | 1.61 | &nbsp;&nbsp; (.32)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.32)<br>| 12.16 | 14.94 | &nbsp;&nbsp; 13 | &nbsp;&nbsp; .78 | &nbsp;&nbsp; .52 | 2.93 |
| 12/31/2020 | 10.72 | &nbsp;&nbsp; .29 | &nbsp;&nbsp; .16 | &nbsp;&nbsp; .45 | &nbsp;&nbsp; (.30)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.30)<br>| 10.87 | 4.48 | &nbsp;&nbsp; 8 | &nbsp;&nbsp; .78 | &nbsp;&nbsp; .60 | 2.83 |
| **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  |
| 6/30/2025<sup>4,5</sup> <br>| 12.36 | &nbsp;&nbsp; .22 | 1.27 | 1.49 | &nbsp;&nbsp; (.13)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.13)<br>| 13.72 | 12.09 <br><sup>6</sup><br>| &nbsp;&nbsp; 739 | &nbsp;&nbsp; .90 <br><sup>7</sup><br>| &nbsp;&nbsp; .77 <br><sup>7</sup><br>| 3.39 <br><sup>7</sup><br>|
| 12/31/2024 | 11.60 | &nbsp;&nbsp; .36 | &nbsp;&nbsp; .79 | 1.15 | &nbsp;&nbsp; (.39)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.39)<br>| 12.36 | 9.93 | &nbsp;&nbsp; 629 | &nbsp;&nbsp; .90 | &nbsp;&nbsp; .77 | 2.93 |
| 12/31/2023 | 10.96 | &nbsp;&nbsp; .35 | &nbsp;&nbsp; .59 | &nbsp;&nbsp; .94 | &nbsp;&nbsp; (.30)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.30)<br>| 11.60 | 8.75 | &nbsp;&nbsp; 566 | &nbsp;&nbsp; .90 | &nbsp;&nbsp; .76 | 3.18 |
| 12/31/2022 | 12.14 | &nbsp;&nbsp; .31 | &nbsp;&nbsp; (1.20)<br>| &nbsp;&nbsp; (.89)<br>| &nbsp;&nbsp; (.29)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.29)<br>| 10.96 | &nbsp;&nbsp; (7.37)<br>| &nbsp;&nbsp; 530 | &nbsp;&nbsp; .94 | &nbsp;&nbsp; .76 | 2.81 |
| 12/31/2021 | 10.85 | &nbsp;&nbsp; .31 | 1.27 | 1.58 | &nbsp;&nbsp; (.29)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.29)<br>| 12.14 | 14.68 | &nbsp;&nbsp; 559 | 1.03 | &nbsp;&nbsp; .77 | 2.69 |
| 12/31/2020 | 10.71 | &nbsp;&nbsp; .26 | &nbsp;&nbsp; .15 | &nbsp;&nbsp; .41 | &nbsp;&nbsp; (.27)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.27)<br>| 10.85 | 4.11 | &nbsp;&nbsp; 462 | 1.03 | &nbsp;&nbsp; .85 | 2.55 |

---

Refer to the end of the table(s) for footnote(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **364** |

---

------

Financial highlights (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | **Net asset** <br>**value,** <br>**end** <br>**of year** | **Total return** | **Net assets,** <br>**end of year** <br>**(in millions)** | **Ratio of** <br>**expenses** <br>**to average** <br>**net assets**<sup>3</sup>  | **Ratio of** <br>**net income** <br>**(loss)** <br>**to average** <br>**net assets** |
| **Year ended**  | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Net** <br>**investment** <br>**income** <br>**(loss)**<br>| **Net gains** <br>**(losses) on** <br>**securities** <br>**(both** <br>**realized and** <br>**unrealized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**(from net** <br>**investment** <br>**income)**<br>| **Distributions** <br>**(from capital** <br>**gains)**<br>| **Total** <br>**dividends** <br>**and** <br>**distributions**<br>| **Net asset** <br>**value,** <br>**end** <br>**of year** | **Total return** | **Net assets,** <br>**end of year** <br>**(in millions)** | **Ratio of** <br>**expenses** <br>**to average** <br>**net assets**<sup>3</sup>  | **Ratio of** <br>**net income** <br>**(loss)** <br>**to average** <br>**net assets** |
| **Asset Allocation Fund** | **Asset Allocation Fund** | **Asset Allocation Fund** | **Asset Allocation Fund** | **Asset Allocation Fund** | **Asset Allocation Fund** | **Asset Allocation Fund** | **Asset Allocation Fund** | **Asset Allocation Fund** | **Asset Allocation Fund** | **Asset Allocation Fund** | **Asset Allocation Fund** | **Asset Allocation Fund** |
| **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  |
| 6/30/2025<sup>4,5</sup> <br>| $26.04 | &nbsp;&nbsp; $.30 | &nbsp;&nbsp; $1.76 | &nbsp;&nbsp; $2.06 | &nbsp;&nbsp; $(.12)<br>| &nbsp;&nbsp; $(1.91)<br>| &nbsp;&nbsp; $(2.03)<br>| &nbsp;&nbsp; $26.07 | 8.20 %<sup>6</sup><br>| &nbsp;&nbsp; $16240 | &nbsp;&nbsp; .30 %<sup>7</sup><br>| 2.32 %<sup>7</sup><br>|
| 12/31/2024 | 23.86 | &nbsp;&nbsp; .60 | 3.29 | 3.89 | &nbsp;&nbsp; (.61)<br>| &nbsp;&nbsp; (1.10)<br>| &nbsp;&nbsp; (1.71)<br>| 26.04 | 16.73 | &nbsp;&nbsp; 16023 | &nbsp;&nbsp; .30 | 2.36 |
| 12/31/2023 | 22.20 | &nbsp;&nbsp; .57 | 2.54 | 3.11 | &nbsp;&nbsp; (.56)<br>| &nbsp;&nbsp; (.89)<br>| &nbsp;&nbsp; (1.45)<br>| 23.86 | 14.55 | &nbsp;&nbsp; 15555 | &nbsp;&nbsp; .30 | 2.49 |
| 12/31/2022 | 29.08 | &nbsp;&nbsp; .52 | &nbsp;&nbsp; (4.24)<br>| &nbsp;&nbsp; (3.72)<br>| &nbsp;&nbsp; (.51)<br>| &nbsp;&nbsp; (2.65)<br>| &nbsp;&nbsp; (3.16)<br>| 22.20 | &nbsp;&nbsp; (13.19)<br>| &nbsp;&nbsp; 15138 | &nbsp;&nbsp; .30 | 2.15 |
| 12/31/2021 | 26.50 | &nbsp;&nbsp; .48 | 3.54 | 4.02 | &nbsp;&nbsp; (.50)<br>| &nbsp;&nbsp; (.94)<br>| &nbsp;&nbsp; (1.44)<br>| 29.08 | 15.40 | &nbsp;&nbsp; 18836 | &nbsp;&nbsp; .30 | 1.71 |
| 12/31/2020 | 24.05 | &nbsp;&nbsp; .43 | 2.59 | 3.02 | &nbsp;&nbsp; (.46)<br>| &nbsp;&nbsp; (.11)<br>| &nbsp;&nbsp; (.57)<br>| 26.50 | 12.71 | &nbsp;&nbsp; 19238 | &nbsp;&nbsp; .30 | 1.80 |
| **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  |
| 6/30/2025<sup>4,5</sup> <br>| 25.88 | &nbsp;&nbsp; .27 | 1.74 | 2.01 | &nbsp;&nbsp; (.11)<br>| &nbsp;&nbsp; (1.91)<br>| &nbsp;&nbsp; (2.02)<br>| 25.87 | 8.04 <br><sup>6</sup><br>| &nbsp;&nbsp; 45 | &nbsp;&nbsp; .55 <br><sup>7</sup><br>| 2.08 <br><sup>7</sup><br>|
| 12/31/2024 | 23.74 | &nbsp;&nbsp; .54 | 3.26 | 3.80 | &nbsp;&nbsp; (.56)<br>| &nbsp;&nbsp; (1.10)<br>| &nbsp;&nbsp; (1.66)<br>| 25.88 | 16.41 | &nbsp;&nbsp; 42 | &nbsp;&nbsp; .55 | 2.12 |
| 12/31/2023 | 22.10 | &nbsp;&nbsp; .51 | 2.53 | 3.04 | &nbsp;&nbsp; (.51)<br>| &nbsp;&nbsp; (.89)<br>| &nbsp;&nbsp; (1.40)<br>| 23.74 | 14.32 | &nbsp;&nbsp; 32 | &nbsp;&nbsp; .55 | 2.25 |
| 12/31/2022 | 28.97 | &nbsp;&nbsp; .46 | &nbsp;&nbsp; (4.22)<br>| &nbsp;&nbsp; (3.76)<br>| &nbsp;&nbsp; (.46)<br>| &nbsp;&nbsp; (2.65)<br>| &nbsp;&nbsp; (3.11)<br>| 22.10 | &nbsp;&nbsp; (13.43)<br>| &nbsp;&nbsp; 27 | &nbsp;&nbsp; .55 | 1.95 |
| 12/31/2021 | 26.42 | &nbsp;&nbsp; .42 | 3.52 | 3.94 | &nbsp;&nbsp; (.45)<br>| &nbsp;&nbsp; (.94)<br>| &nbsp;&nbsp; (1.39)<br>| 28.97 | 15.13 | &nbsp;&nbsp; 24 | &nbsp;&nbsp; .55 | 1.49 |
| 12/31/2020 | 23.99 | &nbsp;&nbsp; .37 | 2.58 | 2.95 | &nbsp;&nbsp; (.41)<br>| &nbsp;&nbsp; (.11)<br>| &nbsp;&nbsp; (.52)<br>| 26.42 | 12.43 | &nbsp;&nbsp; 14 | &nbsp;&nbsp; .55 | 1.56 |
| **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  |
| 6/30/2025<sup>4,5</sup> <br>| 25.65 | &nbsp;&nbsp; .26 | 1.73 | 1.99 | &nbsp;&nbsp; (.11)<br>| &nbsp;&nbsp; (1.91)<br>| &nbsp;&nbsp; (2.02)<br>| 25.62 | 8.04 <br><sup>6</sup><br>| &nbsp;&nbsp; 4401 | &nbsp;&nbsp; .55 <br><sup>7</sup><br>| 2.07 <br><sup>7</sup><br>|
| 12/31/2024 | 23.53 | &nbsp;&nbsp; .53 | 3.24 | 3.77 | &nbsp;&nbsp; (.55)<br>| &nbsp;&nbsp; (1.10)<br>| &nbsp;&nbsp; (1.65)<br>| 25.65 | 16.44 | &nbsp;&nbsp; 4340 | &nbsp;&nbsp; .55 | 2.11 |
| 12/31/2023 | 21.91 | &nbsp;&nbsp; .50 | 2.52 | 3.02 | &nbsp;&nbsp; (.51)<br>| &nbsp;&nbsp; (.89)<br>| &nbsp;&nbsp; (1.40)<br>| 23.53 | 14.27 | &nbsp;&nbsp; 4261 | &nbsp;&nbsp; .55 | 2.24 |
| 12/31/2022 | 28.74 | &nbsp;&nbsp; .46 | &nbsp;&nbsp; (4.19)<br>| &nbsp;&nbsp; (3.73)<br>| &nbsp;&nbsp; (.45)<br>| &nbsp;&nbsp; (2.65)<br>| &nbsp;&nbsp; (3.10)<br>| 21.91 | &nbsp;&nbsp; (13.41)<br>| &nbsp;&nbsp; 4228 | &nbsp;&nbsp; .55 | 1.90 |
| 12/31/2021 | 26.21 | &nbsp;&nbsp; .41 | 3.49 | 3.90 | &nbsp;&nbsp; (.43)<br>| &nbsp;&nbsp; (.94)<br>| &nbsp;&nbsp; (1.37)<br>| 28.74 | 15.10 | &nbsp;&nbsp; 5473 | &nbsp;&nbsp; .55 | 1.46 |
| 12/31/2020 | 23.79 | &nbsp;&nbsp; .37 | 2.56 | 2.93 | &nbsp;&nbsp; (.40)<br>| &nbsp;&nbsp; (.11)<br>| &nbsp;&nbsp; (.51)<br>| 26.21 | 12.46 | &nbsp;&nbsp; 5242 | &nbsp;&nbsp; .55 | 1.55 |
| **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  |
| 6/30/2025<sup>4,5</sup> <br>| 26.08 | &nbsp;&nbsp; .28 | 1.75 | 2.03 | &nbsp;&nbsp; (.11)<br>| &nbsp;&nbsp; (1.91)<br>| &nbsp;&nbsp; (2.02)<br>| 26.09 | 8.07 <br><sup>6</sup><br>| &nbsp;&nbsp; 34 | &nbsp;&nbsp; .48 <br><sup>7</sup><br>| 2.14 <br><sup>7</sup><br>|
| 12/31/2024 | 23.90 | &nbsp;&nbsp; .56 | 3.29 | 3.85 | &nbsp;&nbsp; (.57)<br>| &nbsp;&nbsp; (1.10)<br>| &nbsp;&nbsp; (1.67)<br>| 26.08 | 16.52 | &nbsp;&nbsp; 32 | &nbsp;&nbsp; .48 | 2.18 |
| 12/31/2023 | 22.23 | &nbsp;&nbsp; .53 | 2.55 | 3.08 | &nbsp;&nbsp; (.52)<br>| &nbsp;&nbsp; (.89)<br>| &nbsp;&nbsp; (1.41)<br>| 23.90 | 14.37 | &nbsp;&nbsp; 30 | &nbsp;&nbsp; .48 | 2.31 |
| 12/31/2022 | 29.12 | &nbsp;&nbsp; .48 | &nbsp;&nbsp; (4.25)<br>| &nbsp;&nbsp; (3.77)<br>| &nbsp;&nbsp; (.47)<br>| &nbsp;&nbsp; (2.65)<br>| &nbsp;&nbsp; (3.12)<br>| 22.23 | &nbsp;&nbsp; (13.37)<br>| &nbsp;&nbsp; 28 | &nbsp;&nbsp; .48 | 1.97 |
| 12/31/2021 | 26.53 | &nbsp;&nbsp; .43 | 3.55 | 3.98 | &nbsp;&nbsp; (.45)<br>| &nbsp;&nbsp; (.94)<br>| &nbsp;&nbsp; (1.39)<br>| 29.12 | 15.22 | &nbsp;&nbsp; 36 | &nbsp;&nbsp; .48 | 1.53 |
| 12/31/2020 | 24.08 | &nbsp;&nbsp; .39 | 2.59 | 2.98 | &nbsp;&nbsp; (.42)<br>| &nbsp;&nbsp; (.11)<br>| &nbsp;&nbsp; (.53)<br>| 26.53 | 12.50 | &nbsp;&nbsp; 33 | &nbsp;&nbsp; .48 | 1.62 |
| **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  |
| 6/30/2025<sup>4,5</sup> <br>| 25.41 | &nbsp;&nbsp; .23 | 1.72 | 1.95 | &nbsp;&nbsp; (.10)<br>| &nbsp;&nbsp; (1.91)<br>| &nbsp;&nbsp; (2.01)<br>| 25.35 | 7.95 <br><sup>6</sup><br>| &nbsp;&nbsp; 6956 | &nbsp;&nbsp; .80 <br><sup>7</sup><br>| 1.82 <br><sup>7</sup><br>|
| 12/31/2024 | 23.34 | &nbsp;&nbsp; .46 | 3.20 | 3.66 | &nbsp;&nbsp; (.49)<br>| &nbsp;&nbsp; (1.10)<br>| &nbsp;&nbsp; (1.59)<br>| 25.41 | 16.11 | &nbsp;&nbsp; 6649 | &nbsp;&nbsp; .80 | 1.87 |
| 12/31/2023 | 21.75 | &nbsp;&nbsp; .44 | 2.49 | 2.93 | &nbsp;&nbsp; (.45)<br>| &nbsp;&nbsp; (.89)<br>| &nbsp;&nbsp; (1.34)<br>| 23.34 | 14.02 | &nbsp;&nbsp; 5807 | &nbsp;&nbsp; .80 | 1.99 |
| 12/31/2022 | 28.56 | &nbsp;&nbsp; .39 | &nbsp;&nbsp; (4.16)<br>| &nbsp;&nbsp; (3.77)<br>| &nbsp;&nbsp; (.39)<br>| &nbsp;&nbsp; (2.65)<br>| &nbsp;&nbsp; (3.04)<br>| 21.75 | &nbsp;&nbsp; (13.66)<br>| &nbsp;&nbsp; 5380 | &nbsp;&nbsp; .80 | 1.66 |
| 12/31/2021 | 26.06 | &nbsp;&nbsp; .34 | 3.47 | 3.81 | &nbsp;&nbsp; (.37)<br>| &nbsp;&nbsp; (.94)<br>| &nbsp;&nbsp; (1.31)<br>| 28.56 | 14.84 | &nbsp;&nbsp; 6337 | &nbsp;&nbsp; .80 | 1.22 |
| 12/31/2020 | 23.67 | &nbsp;&nbsp; .31 | 2.54 | 2.85 | &nbsp;&nbsp; (.35)<br>| &nbsp;&nbsp; (.11)<br>| &nbsp;&nbsp; (.46)<br>| 26.06 | 12.16 | &nbsp;&nbsp; 5131 | &nbsp;&nbsp; .80 | 1.30 |

---

Refer to the end of the table(s) for footnote(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **365** | American Funds Insurance Series |

---

------

Financial highlights (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | **Net asset** <br>**value,** <br>**end** <br>**of year** | **Total return**<sup>2</sup>  | **Net assets,** <br>**end of year** <br>**(in millions)** | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets before** <br>**waivers/** <br>**reimbursements**<sup>3</sup>  | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets after** <br>**waivers/** <br>**reimbursements**<sup>2,3</sup>  | **Ratio of** <br>**net income** <br>**(loss)** <br>**to average** <br>**net assets**<sup>2</sup>  |
| **Year ended**  | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Net** <br>**investment** <br>**income** <br>**(loss)**<br>| **Net gains** <br>**(losses) on** <br>**securities** <br>**(both** <br>**realized and** <br>**unrealized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**(from net** <br>**investment** <br>**income)**<br>| **Distributions** <br>**(from capital** <br>**gains)**<br>| **Total** <br>**dividends** <br>**and** <br>**distributions**<br>| **Net asset** <br>**value,** <br>**end** <br>**of year** | **Total return**<sup>2</sup>  | **Net assets,** <br>**end of year** <br>**(in millions)** | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets before** <br>**waivers/** <br>**reimbursements**<sup>3</sup>  | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets after** <br>**waivers/** <br>**reimbursements**<sup>2,3</sup>  | **Ratio of** <br>**net income** <br>**(loss)** <br>**to average** <br>**net assets**<sup>2</sup>  |
| **American Funds Global Balanced Fund** | **American Funds Global Balanced Fund** | **American Funds Global Balanced Fund** | **American Funds Global Balanced Fund** | **American Funds Global Balanced Fund** | **American Funds Global Balanced Fund** | **American Funds Global Balanced Fund** | **American Funds Global Balanced Fund** | **American Funds Global Balanced Fund** | **American Funds Global Balanced Fund** | **American Funds Global Balanced Fund** | **American Funds Global Balanced Fund** | **American Funds Global Balanced Fund** | **American Funds Global Balanced Fund** |
| **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  |
| 6/30/2025<sup>4,5</sup> <br>| $12.96 | &nbsp;&nbsp; $.20 | &nbsp;&nbsp; $1.05 | &nbsp;&nbsp; $1.25 | &nbsp;&nbsp; $(.04)<br>| &nbsp;&nbsp; $(.53)<br>| &nbsp;&nbsp; $(.57)<br>| &nbsp;&nbsp; $13.64 | 9.72 %<sup>6</sup><br>| &nbsp;&nbsp; $97 | &nbsp;&nbsp; .52 %<sup>7</sup><br>| &nbsp;&nbsp; .50 %<sup>7</sup><br>| 3.02 %<sup>7</sup><br>|
| 12/31/2024 | 12.37 | &nbsp;&nbsp; .34 | &nbsp;&nbsp; .52 | &nbsp;&nbsp; .86 | &nbsp;&nbsp; (.27)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.27)<br>| 12.96 | 6.90 | &nbsp;&nbsp; 95 | &nbsp;&nbsp; .52 | &nbsp;&nbsp; .51 | 2.63 |
| 12/31/2023 | 12.55 | &nbsp;&nbsp; .33 | 1.29 | 1.62 | &nbsp;&nbsp; (.23)<br>| &nbsp;&nbsp; (1.57)<br>| &nbsp;&nbsp; (1.80)<br>| 12.37 | 14.05 | &nbsp;&nbsp; 98 | &nbsp;&nbsp; .53 | &nbsp;&nbsp; .52 | 2.67 |
| 12/31/2022 | 14.73 | &nbsp;&nbsp; .26 | &nbsp;&nbsp; (2.37)<br>| &nbsp;&nbsp; (2.11)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.07)<br>| &nbsp;&nbsp; (.07)<br>| 12.55 | &nbsp;&nbsp; (14.33)<br>| &nbsp;&nbsp; 96 | &nbsp;&nbsp; .59 | &nbsp;&nbsp; .58 | 1.99 |
| 12/31/2021 | 14.19 | &nbsp;&nbsp; .18 | 1.37 | 1.55 | &nbsp;&nbsp; (.19)<br>| &nbsp;&nbsp; (.82)<br>| &nbsp;&nbsp; (1.01)<br>| 14.73 | 11.05 | &nbsp;&nbsp; 120 | &nbsp;&nbsp; .73 | &nbsp;&nbsp; .73 | 1.24 |
| 12/31/2020 | 13.51 | &nbsp;&nbsp; .17 | 1.24 | 1.41 | &nbsp;&nbsp; (.19)<br>| &nbsp;&nbsp; (.54)<br>| &nbsp;&nbsp; (.73)<br>| 14.19 | 10.53 | &nbsp;&nbsp; 139 | &nbsp;&nbsp; .72 | &nbsp;&nbsp; .72 | 1.29 |
| **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  |
| 6/30/2025<sup>4,5</sup> <br>| 12.87 | &nbsp;&nbsp; .18 | 1.05 | 1.23 | &nbsp;&nbsp; (.03)<br>| &nbsp;&nbsp; (.53)<br>| &nbsp;&nbsp; (.56)<br>| 13.54 | 9.66 <br><sup>6</sup><br>| &nbsp;&nbsp; 4 | &nbsp;&nbsp; .77 <br><sup>7</sup><br>| &nbsp;&nbsp; .75 <br><sup>7</sup><br>| 2.78 <br><sup>7</sup><br>|
| 12/31/2024 | 12.30 | &nbsp;&nbsp; .30 | &nbsp;&nbsp; .51 | &nbsp;&nbsp; .81 | &nbsp;&nbsp; (.24)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.24)<br>| 12.87 | 6.57 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; .78 | &nbsp;&nbsp; .77 | 2.35 |
| 12/31/2023 | 12.49 | &nbsp;&nbsp; .29 | 1.30 | 1.59 | &nbsp;&nbsp; (.21)<br>| &nbsp;&nbsp; (1.57)<br>| &nbsp;&nbsp; (1.78)<br>| 12.30 | 13.77 | &nbsp;&nbsp; 3 | &nbsp;&nbsp; .78 | &nbsp;&nbsp; .77 | 2.42 |
| 12/31/2022 | 14.70 | &nbsp;&nbsp; .22 | &nbsp;&nbsp; (2.36)<br>| &nbsp;&nbsp; (2.14)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.07)<br>| &nbsp;&nbsp; (.07)<br>| 12.49 | &nbsp;&nbsp; (14.56)<br>| &nbsp;&nbsp; 3 | &nbsp;&nbsp; .84 | &nbsp;&nbsp; .84 | 1.71 |
| 12/31/2021 | 14.16 | &nbsp;&nbsp; .15 | 1.36 | 1.51 | &nbsp;&nbsp; (.15)<br>| &nbsp;&nbsp; (.82)<br>| &nbsp;&nbsp; (.97)<br>| 14.70 | 10.83 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; .98 | &nbsp;&nbsp; .98 | 1.02 |
| 12/31/2020 | 13.49 | &nbsp;&nbsp; .14 | 1.23 | 1.37 | &nbsp;&nbsp; (.16)<br>| &nbsp;&nbsp; (.54)<br>| &nbsp;&nbsp; (.70)<br>| 14.16 | 10.25 | &nbsp;&nbsp; 3 | &nbsp;&nbsp; .97 | &nbsp;&nbsp; .97 | 1.03 |
| **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  |
| 6/30/2025<sup>4,5</sup> <br>| 12.89 | &nbsp;&nbsp; .18 | 1.05 | 1.23 | &nbsp;&nbsp; (.03)<br>| &nbsp;&nbsp; (.53)<br>| &nbsp;&nbsp; (.56)<br>| 13.56 | 9.64 <br><sup>6</sup><br>| &nbsp;&nbsp; 149 | &nbsp;&nbsp; .77 <br><sup>7</sup><br>| &nbsp;&nbsp; .75 <br><sup>7</sup><br>| 2.78 <br><sup>7</sup><br>|
| 12/31/2024 | 12.31 | &nbsp;&nbsp; .31 | &nbsp;&nbsp; .50 | &nbsp;&nbsp; .81 | &nbsp;&nbsp; (.23)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.23)<br>| 12.89 | 6.58 | &nbsp;&nbsp; 149 | &nbsp;&nbsp; .77 | &nbsp;&nbsp; .76 | 2.38 |
| 12/31/2023 | 12.49 | &nbsp;&nbsp; .30 | 1.29 | 1.59 | &nbsp;&nbsp; (.20)<br>| &nbsp;&nbsp; (1.57)<br>| &nbsp;&nbsp; (1.77)<br>| 12.31 | 13.83 | &nbsp;&nbsp; 160 | &nbsp;&nbsp; .78 | &nbsp;&nbsp; .77 | 2.42 |
| 12/31/2022 | 14.70 | &nbsp;&nbsp; .22 | &nbsp;&nbsp; (2.36)<br>| &nbsp;&nbsp; (2.14)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.07)<br>| &nbsp;&nbsp; (.07)<br>| 12.49 | &nbsp;&nbsp; (14.56)<br>| &nbsp;&nbsp; 158 | &nbsp;&nbsp; .84 | &nbsp;&nbsp; .83 | 1.73 |
| 12/31/2021 | 14.16 | &nbsp;&nbsp; .15 | 1.36 | 1.51 | &nbsp;&nbsp; (.15)<br>| &nbsp;&nbsp; (.82)<br>| &nbsp;&nbsp; (.97)<br>| 14.70 | 10.79 | &nbsp;&nbsp; 208 | &nbsp;&nbsp; .98 | &nbsp;&nbsp; .98 | 1.01 |
| 12/31/2020 | 13.48 | &nbsp;&nbsp; .14 | 1.23 | 1.37 | &nbsp;&nbsp; (.15)<br>| &nbsp;&nbsp; (.54)<br>| &nbsp;&nbsp; (.69)<br>| 14.16 | 10.30 | &nbsp;&nbsp; 208 | &nbsp;&nbsp; .97 | &nbsp;&nbsp; .97 | 1.03 |
| **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  |
| 6/30/2025<sup>4,5</sup> <br>| 12.66 | &nbsp;&nbsp; .16 | 1.04 | 1.20 | &nbsp;&nbsp; (.03)<br>| &nbsp;&nbsp; (.53)<br>| &nbsp;&nbsp; (.56)<br>| 13.30 | 9.55 <br><sup>6</sup><br>| &nbsp;&nbsp; 169 | 1.02 <br><sup>7</sup><br>| 1.00 <br><sup>7</sup><br>| 2.54 <br><sup>7</sup><br>|
| 12/31/2024 | 12.10 | &nbsp;&nbsp; .27 | &nbsp;&nbsp; .50 | &nbsp;&nbsp; .77 | &nbsp;&nbsp; (.21)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.21)<br>| 12.66 | 6.32 | &nbsp;&nbsp; 144 | 1.02 | 1.01 | 2.12 |
| 12/31/2023 | 12.32 | &nbsp;&nbsp; .26 | 1.27 | 1.53 | &nbsp;&nbsp; (.18)<br>| &nbsp;&nbsp; (1.57)<br>| &nbsp;&nbsp; (1.75)<br>| 12.10 | 13.45 | &nbsp;&nbsp; 128 | 1.03 | 1.02 | 2.17 |
| 12/31/2022 | 14.53 | &nbsp;&nbsp; .19 | &nbsp;&nbsp; (2.33)<br>| &nbsp;&nbsp; (2.14)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.07)<br>| &nbsp;&nbsp; (.07)<br>| 12.32 | &nbsp;&nbsp; (14.73)<br>| &nbsp;&nbsp; 111 | 1.09 | 1.08 | 1.49 |
| 12/31/2021 | 14.02 | &nbsp;&nbsp; .11 | 1.34 | 1.45 | &nbsp;&nbsp; (.12)<br>| &nbsp;&nbsp; (.82)<br>| &nbsp;&nbsp; (.94)<br>| 14.53 | 10.46 | &nbsp;&nbsp; 135 | 1.23 | 1.23 | &nbsp;&nbsp; .77 |
| 12/31/2020 | 13.36 | &nbsp;&nbsp; .10 | 1.22 | 1.32 | &nbsp;&nbsp; (.12)<br>| &nbsp;&nbsp; (.54)<br>| &nbsp;&nbsp; (.66)<br>| 14.02 | 10.00 | &nbsp;&nbsp; 105 | 1.22 | 1.22 | &nbsp;&nbsp; .78 |

---

Refer to the end of the table(s) for footnote(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **366** |

---

------

Financial highlights (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | **Net asset** <br>**value,** <br>**end** <br>**of year** | **Total return**<sup>2</sup>  | **Net assets,** <br>**end of year** <br>**(in millions)** | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets before** <br>**waivers/** <br>**reimbursements**<sup>3</sup>  | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets after** <br>**waivers/** <br>**reimbursements**<sup>2,3</sup>  | **Ratio of** <br>**net income** <br>**(loss)** <br>**to average** <br>**net assets**<sup>2</sup>  |
| **Year ended**  | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Net** <br>**investment** <br>**income** <br>**(loss)**<br>| **Net gains** <br>**(losses) on** <br>**securities** <br>**(both** <br>**realized and** <br>**unrealized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**(from net** <br>**investment** <br>**income)**<br>| **Distributions** <br>**(from capital** <br>**gains)**<br>| **Total** <br>**dividends** <br>**and** <br>**distributions**<br>| **Net asset** <br>**value,** <br>**end** <br>**of year** | **Total return**<sup>2</sup>  | **Net assets,** <br>**end of year** <br>**(in millions)** | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets before** <br>**waivers/** <br>**reimbursements**<sup>3</sup>  | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets after** <br>**waivers/** <br>**reimbursements**<sup>2,3</sup>  | **Ratio of** <br>**net income** <br>**(loss)** <br>**to average** <br>**net assets**<sup>2</sup>  |
| **The Bond Fund of America** | **The Bond Fund of America** | **The Bond Fund of America** | **The Bond Fund of America** | **The Bond Fund of America** | **The Bond Fund of America** | **The Bond Fund of America** | **The Bond Fund of America** | **The Bond Fund of America** | **The Bond Fund of America** | **The Bond Fund of America** | **The Bond Fund of America** | **The Bond Fund of America** | **The Bond Fund of America** |
| **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  |
| 6/30/2025<sup>4,5</sup> <br>| $9.27 | &nbsp;&nbsp; $.22 | &nbsp;&nbsp; $.18 | &nbsp;&nbsp; $.40 | &nbsp;&nbsp; $(.09)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(.09)<br>| &nbsp;&nbsp; $9.58 | 4.30 %<sup>6</sup><br>| &nbsp;&nbsp; $6713 | &nbsp;&nbsp; .39 %<sup>7</sup><br>| &nbsp;&nbsp; .24 %<sup>7</sup><br>| 4.64 %<sup>7</sup><br>|
| 12/31/2024 | 9.54 | &nbsp;&nbsp; .44 | &nbsp;&nbsp; (.29)<br>| &nbsp;&nbsp; .15 | &nbsp;&nbsp; (.42)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.42)<br>| 9.27 | 1.50 | &nbsp;&nbsp; 6992 | &nbsp;&nbsp; .39 | &nbsp;&nbsp; .24 | 4.60 |
| 12/31/2023 | 9.41 | &nbsp;&nbsp; .39 | &nbsp;&nbsp; .09 | &nbsp;&nbsp; .48 | &nbsp;&nbsp; (.35)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.35)<br>| 9.54 | 5.21 | &nbsp;&nbsp; 6908 | &nbsp;&nbsp; .39 | &nbsp;&nbsp; .20 | 4.15 |
| 12/31/2022 | 11.21 | &nbsp;&nbsp; .31 | &nbsp;&nbsp; (1.67)<br>| &nbsp;&nbsp; (1.36)<br>| &nbsp;&nbsp; (.32)<br>| &nbsp;&nbsp; (.12)<br>| &nbsp;&nbsp; (.44)<br>| 9.41 | &nbsp;&nbsp; (12.26)<br>| &nbsp;&nbsp; 6370 | &nbsp;&nbsp; .39 | &nbsp;&nbsp; .20 | 3.09 |
| 12/31/2021 | 11.89 | &nbsp;&nbsp; .21 | &nbsp;&nbsp; (.23)<br>| &nbsp;&nbsp; (.02)<br>| &nbsp;&nbsp; (.19)<br>| &nbsp;&nbsp; (.47)<br>| &nbsp;&nbsp; (.66)<br>| 11.21 | &nbsp;&nbsp; (.14)<br>| &nbsp;&nbsp; 8555 | &nbsp;&nbsp; .39 | &nbsp;&nbsp; .26 | 1.84 |
| 12/31/2020 | 11.17 | &nbsp;&nbsp; .23 | &nbsp;&nbsp; .87 | 1.10 | &nbsp;&nbsp; (.27)<br>| &nbsp;&nbsp; (.11)<br>| &nbsp;&nbsp; (.38)<br>| 11.89 | 9.96 | &nbsp;&nbsp; 6844 | &nbsp;&nbsp; .40 | &nbsp;&nbsp; .40 | 2.00 |
| **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  |
| 6/30/2025<sup>4,5</sup> <br>| 9.20 | &nbsp;&nbsp; .20 | &nbsp;&nbsp; .18 | &nbsp;&nbsp; .38 | &nbsp;&nbsp; (.08)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.08)<br>| 9.50 | 4.18 <br><sup>6</sup><br>| &nbsp;&nbsp; 260 | &nbsp;&nbsp; .64 <br><sup>7</sup><br>| &nbsp;&nbsp; .49 <br><sup>7</sup><br>| 4.40 <br><sup>7</sup><br>|
| 12/31/2024 | 9.47 | &nbsp;&nbsp; .41 | &nbsp;&nbsp; (.29)<br>| &nbsp;&nbsp; .12 | &nbsp;&nbsp; (.39)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.39)<br>| 9.20 | 1.23 | &nbsp;&nbsp; 221 | &nbsp;&nbsp; .64 | &nbsp;&nbsp; .49 | 4.35 |
| 12/31/2023 | 9.35 | &nbsp;&nbsp; .37 | &nbsp;&nbsp; .08 | &nbsp;&nbsp; .45 | &nbsp;&nbsp; (.33)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.33)<br>| 9.47 | 4.89 | &nbsp;&nbsp; 258 | &nbsp;&nbsp; .64 | &nbsp;&nbsp; .45 | 3.90 |
| 12/31/2022 | 11.16 | &nbsp;&nbsp; .31 | &nbsp;&nbsp; (1.69)<br>| &nbsp;&nbsp; (1.38)<br>| &nbsp;&nbsp; (.31)<br>| &nbsp;&nbsp; (.12)<br>| &nbsp;&nbsp; (.43)<br>| 9.35 | &nbsp;&nbsp; (12.49)<br>| &nbsp;&nbsp; 220 | &nbsp;&nbsp; .64 | &nbsp;&nbsp; .45 | 3.15 |
| 12/31/2021 | 11.84 | &nbsp;&nbsp; .18 | &nbsp;&nbsp; (.23)<br>| &nbsp;&nbsp; (.05)<br>| &nbsp;&nbsp; (.16)<br>| &nbsp;&nbsp; (.47)<br>| &nbsp;&nbsp; (.63)<br>| 11.16 | &nbsp;&nbsp; (.36)<br>| &nbsp;&nbsp; 12 | &nbsp;&nbsp; .64 | &nbsp;&nbsp; .51 | 1.59 |
| 12/31/2020 | 11.13 | &nbsp;&nbsp; .20 | &nbsp;&nbsp; .87 | 1.07 | &nbsp;&nbsp; (.25)<br>| &nbsp;&nbsp; (.11)<br>| &nbsp;&nbsp; (.36)<br>| 11.84 | 9.68 | &nbsp;&nbsp; 9 | &nbsp;&nbsp; .65 | &nbsp;&nbsp; .65 | 1.74 |
| **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  |
| 6/30/2025<sup>4,5</sup> <br>| 9.12 | &nbsp;&nbsp; .20 | &nbsp;&nbsp; .18 | &nbsp;&nbsp; .38 | &nbsp;&nbsp; (.08)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.08)<br>| 9.42 | 4.21 <br><sup>6</sup><br>| &nbsp;&nbsp; 2710 | &nbsp;&nbsp; .64 <br><sup>7</sup><br>| &nbsp;&nbsp; .49 <br><sup>7</sup><br>| 4.39 <br><sup>7</sup><br>|
| 12/31/2024 | 9.40 | &nbsp;&nbsp; .41 | &nbsp;&nbsp; (.30)<br>| &nbsp;&nbsp; .11 | &nbsp;&nbsp; (.39)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.39)<br>| 9.12 | 1.16 | &nbsp;&nbsp; 2766 | &nbsp;&nbsp; .64 | &nbsp;&nbsp; .49 | 4.35 |
| 12/31/2023 | 9.27 | &nbsp;&nbsp; .36 | &nbsp;&nbsp; .10 | &nbsp;&nbsp; .46 | &nbsp;&nbsp; (.33)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.33)<br>| 9.40 | 5.02 | &nbsp;&nbsp; 2879 | &nbsp;&nbsp; .64 | &nbsp;&nbsp; .45 | 3.89 |
| 12/31/2022 | 11.06 | &nbsp;&nbsp; .28 | &nbsp;&nbsp; (1.66)<br>| &nbsp;&nbsp; (1.38)<br>| &nbsp;&nbsp; (.29)<br>| &nbsp;&nbsp; (.12)<br>| &nbsp;&nbsp; (.41)<br>| 9.27 | &nbsp;&nbsp; (12.58)<br>| &nbsp;&nbsp; 2844 | &nbsp;&nbsp; .64 | &nbsp;&nbsp; .45 | 2.84 |
| 12/31/2021 | 11.73 | &nbsp;&nbsp; .18 | &nbsp;&nbsp; (.22)<br>| &nbsp;&nbsp; (.04)<br>| &nbsp;&nbsp; (.16)<br>| &nbsp;&nbsp; (.47)<br>| &nbsp;&nbsp; (.63)<br>| 11.06 | &nbsp;&nbsp; (.31)<br>| &nbsp;&nbsp; 3729 | &nbsp;&nbsp; .64 | &nbsp;&nbsp; .52 | 1.57 |
| 12/31/2020 | 11.02 | &nbsp;&nbsp; .20 | &nbsp;&nbsp; .86 | 1.06 | &nbsp;&nbsp; (.24)<br>| &nbsp;&nbsp; (.11)<br>| &nbsp;&nbsp; (.35)<br>| 11.73 | 9.73 | &nbsp;&nbsp; 3840 | &nbsp;&nbsp; .65 | &nbsp;&nbsp; .65 | 1.75 |
| **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  |
| 6/30/2025<sup>4,5</sup> <br>| 9.07 | &nbsp;&nbsp; .19 | &nbsp;&nbsp; .18 | &nbsp;&nbsp; .37 | &nbsp;&nbsp; (.08)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.08)<br>| 9.36 | 3.98 <br><sup>6</sup><br>| &nbsp;&nbsp; 1283 | &nbsp;&nbsp; .89 <br><sup>7</sup><br>| &nbsp;&nbsp; .74 <br><sup>7</sup><br>| 4.14 <br><sup>7</sup><br>|
| 12/31/2024 | 9.35 | &nbsp;&nbsp; .38 | &nbsp;&nbsp; (.29)<br>| &nbsp;&nbsp; .09 | &nbsp;&nbsp; (.37)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.37)<br>| 9.07 | &nbsp;&nbsp; .98 | &nbsp;&nbsp; 1188 | &nbsp;&nbsp; .89 | &nbsp;&nbsp; .74 | 4.10 |
| 12/31/2023 | 9.23 | &nbsp;&nbsp; .34 | &nbsp;&nbsp; .09 | &nbsp;&nbsp; .43 | &nbsp;&nbsp; (.31)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.31)<br>| 9.35 | 4.72 | &nbsp;&nbsp; 963 | &nbsp;&nbsp; .89 | &nbsp;&nbsp; .70 | 3.66 |
| 12/31/2022 | 11.01 | &nbsp;&nbsp; .26 | &nbsp;&nbsp; (1.65)<br>| &nbsp;&nbsp; (1.39)<br>| &nbsp;&nbsp; (.27)<br>| &nbsp;&nbsp; (.12)<br>| &nbsp;&nbsp; (.39)<br>| 9.23 | &nbsp;&nbsp; (12.75)<br>| &nbsp;&nbsp; 787 | &nbsp;&nbsp; .89 | &nbsp;&nbsp; .70 | 2.61 |
| 12/31/2021 | 11.69 | &nbsp;&nbsp; .15 | &nbsp;&nbsp; (.22)<br>| &nbsp;&nbsp; (.07)<br>| &nbsp;&nbsp; (.14)<br>| &nbsp;&nbsp; (.47)<br>| &nbsp;&nbsp; (.61)<br>| 11.01 | &nbsp;&nbsp; (.59)<br>| &nbsp;&nbsp; 891 | &nbsp;&nbsp; .89 | &nbsp;&nbsp; .76 | 1.34 |
| 12/31/2020 | 11.00 | &nbsp;&nbsp; .17 | &nbsp;&nbsp; .85 | 1.02 | &nbsp;&nbsp; (.22)<br>| &nbsp;&nbsp; (.11)<br>| &nbsp;&nbsp; (.33)<br>| 11.69 | 9.38 | &nbsp;&nbsp; 714 | &nbsp;&nbsp; .90 | &nbsp;&nbsp; .90 | 1.48 |

---

Refer to the end of the table(s) for footnote(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **367** | American Funds Insurance Series |

---

------

Financial highlights (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | **Net asset** <br>**value,** <br>**end** <br>**of year** | **Total return**<sup>2</sup>  | **Net assets,** <br>**end of year** <br>**(in millions)** | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets before** <br>**waivers/** <br>**reimbursements**<sup>3</sup>  | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets after** <br>**waivers/** <br>**reimbursements**<sup>2,3</sup>  | **Ratio of** <br>**net income** <br>**(loss)** <br>**to average** <br>**net assets**<sup>2</sup>  |
| **Year ended**  | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Net** <br>**investment** <br>**income** <br>**(loss)**<br>| **Net gains** <br>**(losses) on** <br>**securities** <br>**(both** <br>**realized and** <br>**unrealized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**(from net** <br>**investment** <br>**income)**<br>| **Distributions** <br>**(from capital** <br>**gains)**<br>| **Total** <br>**dividends** <br>**and** <br>**distributions**<br>| **Net asset** <br>**value,** <br>**end** <br>**of year** | **Total return**<sup>2</sup>  | **Net assets,** <br>**end of year** <br>**(in millions)** | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets before** <br>**waivers/** <br>**reimbursements**<sup>3</sup>  | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets after** <br>**waivers/** <br>**reimbursements**<sup>2,3</sup>  | **Ratio of** <br>**net income** <br>**(loss)** <br>**to average** <br>**net assets**<sup>2</sup>  |
| **Capital World Bond Fund** | **Capital World Bond Fund** | **Capital World Bond Fund** | **Capital World Bond Fund** | **Capital World Bond Fund** | **Capital World Bond Fund** | **Capital World Bond Fund** | **Capital World Bond Fund** | **Capital World Bond Fund** | **Capital World Bond Fund** | **Capital World Bond Fund** | **Capital World Bond Fund** | **Capital World Bond Fund** | **Capital World Bond Fund** |
| **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  |
| 6/30/2025<sup>4,5</sup> <br>| $9.63 | &nbsp;&nbsp; $.21 | &nbsp;&nbsp; $.63 | &nbsp;&nbsp; $.84 | &nbsp;&nbsp; $(.03)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(.03)<br>| &nbsp;&nbsp; $10.44 | 8.71 %<sup>6</sup><br>| &nbsp;&nbsp; $619 | &nbsp;&nbsp; .48 %<sup>7</sup><br>| &nbsp;&nbsp; .48 %<sup>7</sup><br>| 4.18 %<sup>7</sup><br>|
| 12/31/2024 | 10.16 | &nbsp;&nbsp; .42 | &nbsp;&nbsp; (.70)<br>| &nbsp;&nbsp; (.28)<br>| &nbsp;&nbsp; (.25)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.25)<br>| 9.63 | &nbsp;&nbsp; (2.76)<br>| &nbsp;&nbsp; 588 | &nbsp;&nbsp; .48 | &nbsp;&nbsp; .48 | 4.20 |
| 12/31/2023 | 9.55 | &nbsp;&nbsp; .32 | &nbsp;&nbsp; .29 | &nbsp;&nbsp; .61 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | 10.16 | 6.39 | &nbsp;&nbsp; 665 | &nbsp;&nbsp; .48 | &nbsp;&nbsp; .48 | 3.33 |
| 12/31/2022 | 11.79 | &nbsp;&nbsp; .25 | &nbsp;&nbsp; (2.30)<br>| &nbsp;&nbsp; (2.05)<br>| &nbsp;&nbsp; (.03)<br>| &nbsp;&nbsp; (.16)<br>| &nbsp;&nbsp; (.19)<br>| 9.55 | &nbsp;&nbsp; (17.43)<br>| &nbsp;&nbsp; 663 | &nbsp;&nbsp; .51 | &nbsp;&nbsp; .48 | 2.43 |
| 12/31/2021 | 12.94 | &nbsp;&nbsp; .25 | &nbsp;&nbsp; (.85)<br>| &nbsp;&nbsp; (.60)<br>| &nbsp;&nbsp; (.24)<br>| &nbsp;&nbsp; (.31)<br>| &nbsp;&nbsp; (.55)<br>| 11.79 | &nbsp;&nbsp; (4.73)<br>| &nbsp;&nbsp; 988 | &nbsp;&nbsp; .60 | &nbsp;&nbsp; .50 | 2.06 |
| 12/31/2020 | 12.12 | &nbsp;&nbsp; .26 | &nbsp;&nbsp; .95 | 1.21 | &nbsp;&nbsp; (.18)<br>| &nbsp;&nbsp; (.21)<br>| &nbsp;&nbsp; (.39)<br>| 12.94 | 10.17 | &nbsp;&nbsp; 1219 | &nbsp;&nbsp; .59 | &nbsp;&nbsp; .52 | 2.08 |
| **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  |
| 6/30/2025<sup>4,5</sup> <br>| 9.54 | &nbsp;&nbsp; .19 | &nbsp;&nbsp; .62 | &nbsp;&nbsp; .81 | &nbsp;&nbsp; (.02)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.02)<br>| 10.33 | 8.51 <br><sup>6</sup><br>| &nbsp;&nbsp; 26 | &nbsp;&nbsp; .73 <br><sup>7</sup><br>| &nbsp;&nbsp; .73 <br><sup>7</sup><br>| 3.94 <br><sup>7</sup><br>|
| 12/31/2024 | 10.08 | &nbsp;&nbsp; .40 | &nbsp;&nbsp; (.69)<br>| &nbsp;&nbsp; (.29)<br>| &nbsp;&nbsp; (.25)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.25)<br>| 9.54 | &nbsp;&nbsp; (2.97)<br>| &nbsp;&nbsp; 39 | &nbsp;&nbsp; .74 | &nbsp;&nbsp; .74 | 4.05 |
| 12/31/2023 | 9.50 | &nbsp;&nbsp; .30 | &nbsp;&nbsp; .28 | &nbsp;&nbsp; .58 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | 10.08 | 6.11 | &nbsp;&nbsp; 1 | &nbsp;&nbsp; .73 | &nbsp;&nbsp; .73 | 3.08 |
| 12/31/2022 | 11.76 | &nbsp;&nbsp; .22 | &nbsp;&nbsp; (2.30)<br>| &nbsp;&nbsp; (2.08)<br>| &nbsp;&nbsp; (.02)<br>| &nbsp;&nbsp; (.16)<br>| &nbsp;&nbsp; (.18)<br>| 9.50 | &nbsp;&nbsp; (17.69)<br>| &nbsp;&nbsp; 1 | &nbsp;&nbsp; .76 | &nbsp;&nbsp; .73 | 2.19 |
| 12/31/2021 | 12.91 | &nbsp;&nbsp; .23 | &nbsp;&nbsp; (.85)<br>| &nbsp;&nbsp; (.62)<br>| &nbsp;&nbsp; (.22)<br>| &nbsp;&nbsp; (.31)<br>| &nbsp;&nbsp; (.53)<br>| 11.76 | &nbsp;&nbsp; (4.88)<br>| &nbsp;&nbsp; 1 | &nbsp;&nbsp; .85 | &nbsp;&nbsp; .75 | 1.85 |
| 12/31/2020 | 12.10 | &nbsp;&nbsp; .23 | &nbsp;&nbsp; .95 | 1.18 | &nbsp;&nbsp; (.16)<br>| &nbsp;&nbsp; (.21)<br>| &nbsp;&nbsp; (.37)<br>| 12.91 | 9.89 | &nbsp;&nbsp; 1 | &nbsp;&nbsp; .83 | &nbsp;&nbsp; .76 | 1.83 |
| **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  |
| 6/30/2025<sup>4,5</sup> <br>| 9.52 | &nbsp;&nbsp; .19 | &nbsp;&nbsp; .62 | &nbsp;&nbsp; .81 | &nbsp;&nbsp; (.02)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.02)<br>| 10.31 | 8.55 <br><sup>6</sup><br>| &nbsp;&nbsp; 755 | &nbsp;&nbsp; .73 <br><sup>7</sup><br>| &nbsp;&nbsp; .73 <br><sup>7</sup><br>| 3.93 <br><sup>7</sup><br>|
| 12/31/2024 | 10.03 | &nbsp;&nbsp; .39 | &nbsp;&nbsp; (.69)<br>| &nbsp;&nbsp; (.30)<br>| &nbsp;&nbsp; (.21)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.21)<br>| 9.52 | &nbsp;&nbsp; (3.04)<br>| &nbsp;&nbsp; 761 | &nbsp;&nbsp; .73 | &nbsp;&nbsp; .73 | 3.95 |
| 12/31/2023 | 9.45 | &nbsp;&nbsp; .29 | &nbsp;&nbsp; .29 | &nbsp;&nbsp; .58 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | 10.03 | 6.14 | &nbsp;&nbsp; 817 | &nbsp;&nbsp; .73 | &nbsp;&nbsp; .73 | 3.08 |
| 12/31/2022 | 11.70 | &nbsp;&nbsp; .22 | &nbsp;&nbsp; (2.29)<br>| &nbsp;&nbsp; (2.07)<br>| &nbsp;&nbsp; (.02)<br>| &nbsp;&nbsp; (.16)<br>| &nbsp;&nbsp; (.18)<br>| 9.45 | &nbsp;&nbsp; (17.70)<br>| &nbsp;&nbsp; 765 | &nbsp;&nbsp; .76 | &nbsp;&nbsp; .73 | 2.18 |
| 12/31/2021 | 12.84 | &nbsp;&nbsp; .22 | &nbsp;&nbsp; (.84)<br>| &nbsp;&nbsp; (.62)<br>| &nbsp;&nbsp; (.21)<br>| &nbsp;&nbsp; (.31)<br>| &nbsp;&nbsp; (.52)<br>| 11.70 | &nbsp;&nbsp; (4.92)<br>| &nbsp;&nbsp; 1030 | &nbsp;&nbsp; .85 | &nbsp;&nbsp; .75 | 1.82 |
| 12/31/2020 | 12.03 | &nbsp;&nbsp; .22 | &nbsp;&nbsp; .95 | 1.17 | &nbsp;&nbsp; (.15)<br>| &nbsp;&nbsp; (.21)<br>| &nbsp;&nbsp; (.36)<br>| 12.84 | 9.90 | &nbsp;&nbsp; 1058 | &nbsp;&nbsp; .84 | &nbsp;&nbsp; .77 | 1.83 |
| **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  |
| 6/30/2025<sup>4,5</sup> <br>| 9.37 | &nbsp;&nbsp; .18 | &nbsp;&nbsp; .61 | &nbsp;&nbsp; .79 | &nbsp;&nbsp; (.02)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.02)<br>| 10.14 | 8.45 <br><sup>6</sup><br>| &nbsp;&nbsp; 72 | &nbsp;&nbsp; .98 <br><sup>7</sup><br>| &nbsp;&nbsp; .98 <br><sup>7</sup><br>| 3.67 <br><sup>7</sup><br>|
| 12/31/2024 | 9.88 | &nbsp;&nbsp; .36 | &nbsp;&nbsp; (.68)<br>| &nbsp;&nbsp; (.32)<br>| &nbsp;&nbsp; (.19)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.19)<br>| 9.37 | &nbsp;&nbsp; (3.32)<br>| &nbsp;&nbsp; 60 | &nbsp;&nbsp; .98 | &nbsp;&nbsp; .98 | 3.70 |
| 12/31/2023 | 9.33 | &nbsp;&nbsp; .27 | &nbsp;&nbsp; .28 | &nbsp;&nbsp; .55 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | 9.88 | 5.89 | &nbsp;&nbsp; 57 | &nbsp;&nbsp; .98 | &nbsp;&nbsp; .98 | 2.84 |
| 12/31/2022 | 11.57 | &nbsp;&nbsp; .19 | &nbsp;&nbsp; (2.25)<br>| &nbsp;&nbsp; (2.06)<br>| &nbsp;&nbsp; (.02)<br>| &nbsp;&nbsp; (.16)<br>| &nbsp;&nbsp; (.18)<br>| 9.33 | &nbsp;&nbsp; (17.84)<br>| &nbsp;&nbsp; 53 | 1.01 | &nbsp;&nbsp; .98 | 1.94 |
| 12/31/2021 | 12.71 | &nbsp;&nbsp; .19 | &nbsp;&nbsp; (.84)<br>| &nbsp;&nbsp; (.65)<br>| &nbsp;&nbsp; (.18)<br>| &nbsp;&nbsp; (.31)<br>| &nbsp;&nbsp; (.49)<br>| 11.57 | &nbsp;&nbsp; (5.18)<br>| &nbsp;&nbsp; 66 | 1.10 | 1.00 | 1.57 |
| 12/31/2020 | 11.92 | &nbsp;&nbsp; .19 | &nbsp;&nbsp; .94 | 1.13 | &nbsp;&nbsp; (.13)<br>| &nbsp;&nbsp; (.21)<br>| &nbsp;&nbsp; (.34)<br>| 12.71 | 9.62 | &nbsp;&nbsp; 61 | 1.09 | 1.02 | 1.58 |

---

Refer to the end of the table(s) for footnote(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **368** |

---

------

Financial highlights (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | **Net asset** <br>**value,** <br>**end** <br>**of year** | **Total return**<sup>2</sup>  | **Net assets,** <br>**end of year** <br>**(in millions)** | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets before** <br>**waivers/** <br>**reimbursements**<sup>3</sup>  | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets after** <br>**waivers/** <br>**reimbursements**<sup>2,3</sup>  | **Ratio of** <br>**net income** <br>**(loss)** <br>**to average** <br>**net assets**<sup>2</sup>  |
| **Year ended**  | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Net** <br>**investment** <br>**income** <br>**(loss)**<br>| **Net gains** <br>**(losses) on** <br>**securities** <br>**(both** <br>**realized and** <br>**unrealized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**(from net** <br>**investment** <br>**income)**<br>| **Distributions** <br>**(from capital** <br>**gains)**<br>| **Total** <br>**dividends** <br>**and** <br>**distributions**<br>| **Net asset** <br>**value,** <br>**end** <br>**of year** | **Total return**<sup>2</sup>  | **Net assets,** <br>**end of year** <br>**(in millions)** | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets before** <br>**waivers/** <br>**reimbursements**<sup>3</sup>  | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets after** <br>**waivers/** <br>**reimbursements**<sup>2,3</sup>  | **Ratio of** <br>**net income** <br>**(loss)** <br>**to average** <br>**net assets**<sup>2</sup>  |
| **American High-Income Trust** | **American High-Income Trust** | **American High-Income Trust** | **American High-Income Trust** | **American High-Income Trust** | **American High-Income Trust** | **American High-Income Trust** | **American High-Income Trust** | **American High-Income Trust** | **American High-Income Trust** | **American High-Income Trust** | **American High-Income Trust** | **American High-Income Trust** | **American High-Income Trust** |
| **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  |
| 6/30/2025<sup>4,5</sup> <br>| $9.19 | &nbsp;&nbsp; $.32 | &nbsp;&nbsp; $.06 | &nbsp;&nbsp; $.38 | &nbsp;&nbsp; $(.11)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(.11)<br>| &nbsp;&nbsp; $9.46 | 4.13 %<sup>6</sup><br>| &nbsp;&nbsp; $249 | &nbsp;&nbsp; .44 %<sup>7</sup><br>| &nbsp;&nbsp; .32 %<sup>7</sup><br>| 7.03 %<sup>7</sup><br>|
| 12/31/2024 | 8.94 | &nbsp;&nbsp; .65 | &nbsp;&nbsp; .24 | &nbsp;&nbsp; .89 | &nbsp;&nbsp; (.64)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.64)<br>| 9.19 | 9.92 | &nbsp;&nbsp; 229 | &nbsp;&nbsp; .45 | &nbsp;&nbsp; .32 | 6.96 |
| 12/31/2023 | 8.53 | &nbsp;&nbsp; .63 | &nbsp;&nbsp; .43 | 1.06 | &nbsp;&nbsp; (.65)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.65)<br>| 8.94 | 12.69 | &nbsp;&nbsp; 223 | &nbsp;&nbsp; .45 | &nbsp;&nbsp; .31 | 7.10 |
| 12/31/2022 | 10.19 | &nbsp;&nbsp; .56 | &nbsp;&nbsp; (1.47)<br>| &nbsp;&nbsp; (.91)<br>| &nbsp;&nbsp; (.75)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.75)<br>| 8.53 | &nbsp;&nbsp; (9.01)<br>| &nbsp;&nbsp; 224 | &nbsp;&nbsp; .47 | &nbsp;&nbsp; .32 | 5.95 |
| 12/31/2021 | 9.80 | &nbsp;&nbsp; .51 | &nbsp;&nbsp; .34 | &nbsp;&nbsp; .85 | &nbsp;&nbsp; (.46)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.46)<br>| 10.19 | 8.74 | &nbsp;&nbsp; 278 | &nbsp;&nbsp; .53 | &nbsp;&nbsp; .37 | 4.95 |
| 12/31/2020 | 9.87 | &nbsp;&nbsp; .61 | &nbsp;&nbsp; .17 | &nbsp;&nbsp; .78 | &nbsp;&nbsp; (.85)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.85)<br>| 9.80 | 8.21 | &nbsp;&nbsp; 123 | &nbsp;&nbsp; .52 | &nbsp;&nbsp; .52 | 6.46 |
| **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  |
| 6/30/2025<sup>4,5</sup> <br>| 9.15 | &nbsp;&nbsp; .31 | &nbsp;&nbsp; .05 | &nbsp;&nbsp; .36 | &nbsp;&nbsp; (.10)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.10)<br>| 9.41 | 4.00 <br><sup>6</sup><br>| &nbsp;&nbsp; 3 | &nbsp;&nbsp; .69 <br><sup>7</sup><br>| &nbsp;&nbsp; .57 <br><sup>7</sup><br>| 6.78 <br><sup>7</sup><br>|
| 12/31/2024 | 8.90 | &nbsp;&nbsp; .62 | &nbsp;&nbsp; .25 | &nbsp;&nbsp; .87 | &nbsp;&nbsp; (.62)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.62)<br>| 9.15 | 9.73 | &nbsp;&nbsp; 3 | &nbsp;&nbsp; .70 | &nbsp;&nbsp; .57 | 6.71 |
| 12/31/2023 | 8.51 | &nbsp;&nbsp; .61 | &nbsp;&nbsp; .41 | 1.02 | &nbsp;&nbsp; (.63)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.63)<br>| 8.90 | 12.40 | &nbsp;&nbsp; 3 | &nbsp;&nbsp; .70 | &nbsp;&nbsp; .56 | 6.90 |
| 12/31/2022 | 10.16 | &nbsp;&nbsp; .53 | &nbsp;&nbsp; (1.46)<br>| &nbsp;&nbsp; (.93)<br>| &nbsp;&nbsp; (.72)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.72)<br>| 8.51 | &nbsp;&nbsp; (9.29)<br>| &nbsp;&nbsp; 1 | &nbsp;&nbsp; .72 | &nbsp;&nbsp; .57 | 5.70 |
| 12/31/2021 | 9.78 | &nbsp;&nbsp; .49 | &nbsp;&nbsp; .33 | &nbsp;&nbsp; .82 | &nbsp;&nbsp; (.44)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.44)<br>| 10.16 | 8.42 | &nbsp;&nbsp; 1 | &nbsp;&nbsp; .78 | &nbsp;&nbsp; .64 | 4.75 |
| 12/31/2020 | 9.86 | &nbsp;&nbsp; .56 | &nbsp;&nbsp; .20 | &nbsp;&nbsp; .76 | &nbsp;&nbsp; (.84)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.84)<br>| 9.78 | 7.94 | &nbsp;&nbsp; 1 | &nbsp;&nbsp; .78 | &nbsp;&nbsp; .78 | 5.85 |
| **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  |
| 6/30/2025<sup>4,5</sup> <br>| 8.96 | &nbsp;&nbsp; .30 | &nbsp;&nbsp; .05 | &nbsp;&nbsp; .35 | &nbsp;&nbsp; (.10)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.10)<br>| 9.21 | 3.97 <br><sup>6</sup><br>| &nbsp;&nbsp; 535 | &nbsp;&nbsp; .69 <br><sup>7</sup><br>| &nbsp;&nbsp; .57 <br><sup>7</sup><br>| 6.78 <br><sup>7</sup><br>|
| 12/31/2024 | 8.73 | &nbsp;&nbsp; .61 | &nbsp;&nbsp; .23 | &nbsp;&nbsp; .84 | &nbsp;&nbsp; (.61)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.61)<br>| 8.96 | 9.67 | &nbsp;&nbsp; 536 | &nbsp;&nbsp; .70 | &nbsp;&nbsp; .57 | 6.70 |
| 12/31/2023 | 8.35 | &nbsp;&nbsp; .59 | &nbsp;&nbsp; .41 | 1.00 | &nbsp;&nbsp; (.62)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.62)<br>| 8.73 | 12.45 | &nbsp;&nbsp; 533 | &nbsp;&nbsp; .70 | &nbsp;&nbsp; .56 | 6.85 |
| 12/31/2022 | 9.98 | &nbsp;&nbsp; .52 | &nbsp;&nbsp; (1.43)<br>| &nbsp;&nbsp; (.91)<br>| &nbsp;&nbsp; (.72)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.72)<br>| 8.35 | &nbsp;&nbsp; (9.26)<br>| &nbsp;&nbsp; 521 | &nbsp;&nbsp; .72 | &nbsp;&nbsp; .57 | 5.68 |
| 12/31/2021 | 9.61 | &nbsp;&nbsp; .48 | &nbsp;&nbsp; .33 | &nbsp;&nbsp; .81 | &nbsp;&nbsp; (.44)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.44)<br>| 9.98 | 8.42 | &nbsp;&nbsp; 673 | &nbsp;&nbsp; .78 | &nbsp;&nbsp; .65 | 4.80 |
| 12/31/2020 | 9.70 | &nbsp;&nbsp; .55 | &nbsp;&nbsp; .19 | &nbsp;&nbsp; .74 | &nbsp;&nbsp; (.83)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.83)<br>| 9.61 | 7.94 | &nbsp;&nbsp; 665 | &nbsp;&nbsp; .78 | &nbsp;&nbsp; .78 | 5.88 |
| **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  |
| 6/30/2025<sup>4,5</sup> <br>| 9.25 | &nbsp;&nbsp; .32 | &nbsp;&nbsp; .04 | &nbsp;&nbsp; .36 | &nbsp;&nbsp; (.10)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.10)<br>| 9.51 | 3.96 <br><sup>6</sup><br>| &nbsp;&nbsp; 8 | &nbsp;&nbsp; .62 <br><sup>7</sup><br>| &nbsp;&nbsp; .50 <br><sup>7</sup><br>| 6.85 <br><sup>7</sup><br>|
| 12/31/2024 | 8.99 | &nbsp;&nbsp; .63 | &nbsp;&nbsp; .25 | &nbsp;&nbsp; .88 | &nbsp;&nbsp; (.62)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.62)<br>| 9.25 | 9.79 | &nbsp;&nbsp; 8 | &nbsp;&nbsp; .63 | &nbsp;&nbsp; .50 | 6.77 |
| 12/31/2023 | 8.58 | &nbsp;&nbsp; .61 | &nbsp;&nbsp; .43 | 1.04 | &nbsp;&nbsp; (.63)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.63)<br>| 8.99 | 12.54 | &nbsp;&nbsp; 8 | &nbsp;&nbsp; .63 | &nbsp;&nbsp; .49 | 6.91 |
| 12/31/2022 | 10.24 | &nbsp;&nbsp; .54 | &nbsp;&nbsp; (1.47)<br>| &nbsp;&nbsp; (.93)<br>| &nbsp;&nbsp; (.73)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.73)<br>| 8.58 | &nbsp;&nbsp; (9.25)<br>| &nbsp;&nbsp; 9 | &nbsp;&nbsp; .65 | &nbsp;&nbsp; .50 | 5.76 |
| 12/31/2021 | 9.84 | &nbsp;&nbsp; .50 | &nbsp;&nbsp; .34 | &nbsp;&nbsp; .84 | &nbsp;&nbsp; (.44)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.44)<br>| 10.24 | 8.60 | &nbsp;&nbsp; 10 | &nbsp;&nbsp; .71 | &nbsp;&nbsp; .58 | 4.86 |
| 12/31/2020 | 9.92 | &nbsp;&nbsp; .57 | &nbsp;&nbsp; .19 | &nbsp;&nbsp; .76 | &nbsp;&nbsp; (.84)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.84)<br>| 9.84 | 7.93 | &nbsp;&nbsp; 10 | &nbsp;&nbsp; .71 | &nbsp;&nbsp; .71 | 5.94 |
| **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  |
| 6/30/2025<sup>4,5</sup> <br>| 10.07 | &nbsp;&nbsp; .33 | &nbsp;&nbsp; .06 | &nbsp;&nbsp; .39 | &nbsp;&nbsp; (.10)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.10)<br>| 10.36 | 3.90 <br><sup>6</sup><br>| &nbsp;&nbsp; 200 | &nbsp;&nbsp; .94 <br><sup>7</sup><br>| &nbsp;&nbsp; .82 <br><sup>7</sup><br>| 6.53 <br><sup>7</sup><br>|
| 12/31/2024 | 9.75 | &nbsp;&nbsp; .65 | &nbsp;&nbsp; .27 | &nbsp;&nbsp; .92 | &nbsp;&nbsp; (.60)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.60)<br>| 10.07 | 9.39 | &nbsp;&nbsp; 156 | &nbsp;&nbsp; .95 | &nbsp;&nbsp; .82 | 6.45 |
| 12/31/2023 | 9.26 | &nbsp;&nbsp; .63 | &nbsp;&nbsp; .46 | 1.09 | &nbsp;&nbsp; (.60)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.60)<br>| 9.75 | 12.18 | &nbsp;&nbsp; 107 | &nbsp;&nbsp; .95 | &nbsp;&nbsp; .81 | 6.62 |
| 12/31/2022 | 10.99 | &nbsp;&nbsp; .55 | &nbsp;&nbsp; (1.58)<br>| &nbsp;&nbsp; (1.03)<br>| &nbsp;&nbsp; (.70)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.70)<br>| 9.26 | &nbsp;&nbsp; (9.53)<br>| &nbsp;&nbsp; 77 | &nbsp;&nbsp; .97 | &nbsp;&nbsp; .82 | 5.44 |
| 12/31/2021 | 10.54 | &nbsp;&nbsp; .50 | &nbsp;&nbsp; .36 | &nbsp;&nbsp; .86 | &nbsp;&nbsp; (.41)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.41)<br>| 10.99 | 8.18 | &nbsp;&nbsp; 90 | 1.03 | &nbsp;&nbsp; .89 | 4.52 |
| 12/31/2020 | 10.56 | &nbsp;&nbsp; .57 | &nbsp;&nbsp; .22 | &nbsp;&nbsp; .79 | &nbsp;&nbsp; (.81)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.81)<br>| 10.54 | 7.74 | &nbsp;&nbsp; 69 | 1.03 | 1.03 | 5.58 |

---

Refer to the end of the table(s) for footnote(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **369** | American Funds Insurance Series |

---

------

Financial highlights (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | **Net asset** <br>**value,** <br>**end** <br>**of year** | **Total return**<sup>2</sup>  | **Net assets,** <br>**end of year** <br>**(in millions)** | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets before** <br>**waivers/** <br>**reimbursements** | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets after** <br>**waivers/** <br>**reimbursements**<sup>2</sup>  | **Ratio of** <br>**net income** <br>**(loss)** <br>**to average** <br>**net assets**<sup>2</sup>  |
| **Year ended**  | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Net** <br>**investment** <br>**income** <br>**(loss)**<br>| **Net gains** <br>**(losses) on** <br>**securities** <br>**(both** <br>**realized and** <br>**unrealized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**(from net** <br>**investment** <br>**income)**<br>| **Distributions** <br>**(from capital** <br>**gains)**<br>| **Total** <br>**dividends** <br>**and** <br>**distributions**<br>| **Net asset** <br>**value,** <br>**end** <br>**of year** | **Total return**<sup>2</sup>  | **Net assets,** <br>**end of year** <br>**(in millions)** | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets before** <br>**waivers/** <br>**reimbursements** | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets after** <br>**waivers/** <br>**reimbursements**<sup>2</sup>  | **Ratio of** <br>**net income** <br>**(loss)** <br>**to average** <br>**net assets**<sup>2</sup>  |
| **American Funds Mortgage Fund** | **American Funds Mortgage Fund** | **American Funds Mortgage Fund** | **American Funds Mortgage Fund** | **American Funds Mortgage Fund** | **American Funds Mortgage Fund** | **American Funds Mortgage Fund** | **American Funds Mortgage Fund** | **American Funds Mortgage Fund** | **American Funds Mortgage Fund** | **American Funds Mortgage Fund** | **American Funds Mortgage Fund** | **American Funds Mortgage Fund** | **American Funds Mortgage Fund** |
| **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  |
| 6/30/2025<sup>4,5</sup> <br>| $9.08 | &nbsp;&nbsp; $.23 | &nbsp;&nbsp; $.24 | &nbsp;&nbsp; $.47 | &nbsp;&nbsp; $(.08)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(.08)<br>| &nbsp;&nbsp; $9.47 | 5.15 %<sup>6</sup><br>| &nbsp;&nbsp; $18 | &nbsp;&nbsp; .35 %<sup>7</sup><br>| &nbsp;&nbsp; .27 %<sup>7</sup><br>| 5.03 %<sup>7</sup><br>|
| 12/31/2024 | 9.44 | &nbsp;&nbsp; .47 | &nbsp;&nbsp; (.38)<br>| &nbsp;&nbsp; .09 | &nbsp;&nbsp; (.45)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.45)<br>| 9.08 | &nbsp;&nbsp; .93 | &nbsp;&nbsp; 17 | &nbsp;&nbsp; .39 | &nbsp;&nbsp; .31 | 5.04 |
| 12/31/2023 | 9.45 | &nbsp;&nbsp; .45 | &nbsp;&nbsp; (.08)<br>| &nbsp;&nbsp; .37 | &nbsp;&nbsp; (.38)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.38)<br>| 9.44 | 4.03 | &nbsp;&nbsp; 17 | &nbsp;&nbsp; .41 | &nbsp;&nbsp; .29 | 4.76 |
| 12/31/2022 | 10.63 | &nbsp;&nbsp; .07 | &nbsp;&nbsp; (1.10)<br>| &nbsp;&nbsp; (1.03)<br>| &nbsp;&nbsp; (.15)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.15)<br>| 9.45 | &nbsp;&nbsp; (9.76)<br>| &nbsp;&nbsp; 1 | &nbsp;&nbsp; .45 | &nbsp;&nbsp; .25 | &nbsp;&nbsp; .70 |
| 12/31/2021 | 11.11 | &nbsp;&nbsp; .06 | &nbsp;&nbsp; (.09)<br>| &nbsp;&nbsp; (.03)<br>| &nbsp;&nbsp; (.08)<br>| &nbsp;&nbsp; (.37)<br>| &nbsp;&nbsp; (.45)<br>| 10.63 | &nbsp;&nbsp; (.32)<br>| &nbsp;&nbsp; 231 | &nbsp;&nbsp; .49 | &nbsp;&nbsp; .29 | &nbsp;&nbsp; .58 |
| 12/31/2020 | 10.56 | &nbsp;&nbsp; .10 | &nbsp;&nbsp; .64 | &nbsp;&nbsp; .74 | &nbsp;&nbsp; (.17)<br>| &nbsp;&nbsp; (.02)<br>| &nbsp;&nbsp; (.19)<br>| 11.11 | 6.98 | &nbsp;&nbsp; 224 | &nbsp;&nbsp; .48 | &nbsp;&nbsp; .36 | &nbsp;&nbsp; .93 |
| **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  |
| 6/30/2025<sup>4,5</sup> <br>| 8.96 | &nbsp;&nbsp; .22 | &nbsp;&nbsp; .22 | &nbsp;&nbsp; .44 | &nbsp;&nbsp; (.07)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.07)<br>| 9.33 | 4.96 <br><sup>6</sup><br>| &nbsp;&nbsp; 3 | &nbsp;&nbsp; .60 <br><sup>7</sup><br>| &nbsp;&nbsp; .52 <br><sup>7</sup><br>| 4.78 <br><sup>7</sup><br>|
| 12/31/2024 | 9.32 | &nbsp;&nbsp; .44 | &nbsp;&nbsp; (.37)<br>| &nbsp;&nbsp; .07 | &nbsp;&nbsp; (.43)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.43)<br>| 8.96 | &nbsp;&nbsp; .74 | &nbsp;&nbsp; 3 | &nbsp;&nbsp; .64 | &nbsp;&nbsp; .56 | 4.78 |
| 12/31/2023 | 9.34 | &nbsp;&nbsp; .41 | &nbsp;&nbsp; (.07)<br>| &nbsp;&nbsp; .34 | &nbsp;&nbsp; (.36)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.36)<br>| 9.32 | 3.72 | &nbsp;&nbsp; 2 | &nbsp;&nbsp; .65 | &nbsp;&nbsp; .53 | 4.38 |
| 12/31/2022 | 10.59 | &nbsp;&nbsp; .19 | &nbsp;&nbsp; (1.24)<br>| &nbsp;&nbsp; (1.05)<br>| &nbsp;&nbsp; (.20)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.20)<br>| 9.34 | &nbsp;&nbsp; (10.03)<br>| &nbsp;&nbsp; 2 | &nbsp;&nbsp; .69 | &nbsp;&nbsp; .54 | 1.91 |
| 12/31/2021 | 11.08 | &nbsp;&nbsp; .04 | &nbsp;&nbsp; (.10)<br>| &nbsp;&nbsp; (.06)<br>| &nbsp;&nbsp; (.06)<br>| &nbsp;&nbsp; (.37)<br>| &nbsp;&nbsp; (.43)<br>| 10.59 | &nbsp;&nbsp; (.47)<br>| &nbsp;&nbsp; 2 | &nbsp;&nbsp; .74 | &nbsp;&nbsp; .54 | &nbsp;&nbsp; .33 |
| 12/31/2020 | 10.55 | &nbsp;&nbsp; .07 | &nbsp;&nbsp; .63 | &nbsp;&nbsp; .70 | &nbsp;&nbsp; (.15)<br>| &nbsp;&nbsp; (.02)<br>| &nbsp;&nbsp; (.17)<br>| 11.08 | 6.63 | &nbsp;&nbsp; 1 | &nbsp;&nbsp; .73 | &nbsp;&nbsp; .59 | &nbsp;&nbsp; .61 |
| **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  |
| 6/30/2025<sup>4,5</sup> <br>| 8.98 | &nbsp;&nbsp; .22 | &nbsp;&nbsp; .23 | &nbsp;&nbsp; .45 | &nbsp;&nbsp; (.07)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.07)<br>| 9.36 | 5.05 <br><sup>6</sup><br>| &nbsp;&nbsp; 41 | &nbsp;&nbsp; .60 <br><sup>7</sup><br>| &nbsp;&nbsp; .52 <br><sup>7</sup><br>| 4.78 <br><sup>7</sup><br>|
| 12/31/2024 | 9.34 | &nbsp;&nbsp; .45 | &nbsp;&nbsp; (.38)<br>| &nbsp;&nbsp; .07 | &nbsp;&nbsp; (.43)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.43)<br>| 8.98 | &nbsp;&nbsp; .68 | &nbsp;&nbsp; 42 | &nbsp;&nbsp; .64 | &nbsp;&nbsp; .56 | 4.79 |
| 12/31/2023 | 9.36 | &nbsp;&nbsp; .41 | &nbsp;&nbsp; (.07)<br>| &nbsp;&nbsp; .34 | &nbsp;&nbsp; (.36)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.36)<br>| 9.34 | 3.68 | &nbsp;&nbsp; 44 | &nbsp;&nbsp; .64 | &nbsp;&nbsp; .52 | 4.35 |
| 12/31/2022 | 10.61 | &nbsp;&nbsp; .18 | &nbsp;&nbsp; (1.23)<br>| &nbsp;&nbsp; (1.05)<br>| &nbsp;&nbsp; (.20)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.20)<br>| 9.36 | &nbsp;&nbsp; (9.94)<br>| &nbsp;&nbsp; 46 | &nbsp;&nbsp; .69 | &nbsp;&nbsp; .54 | 1.87 |
| 12/31/2021 | 11.09 | &nbsp;&nbsp; .04 | &nbsp;&nbsp; (.10)<br>| &nbsp;&nbsp; (.06)<br>| &nbsp;&nbsp; (.05)<br>| &nbsp;&nbsp; (.37)<br>| &nbsp;&nbsp; (.42)<br>| 10.61 | &nbsp;&nbsp; (.57)<br>| &nbsp;&nbsp; 58 | &nbsp;&nbsp; .74 | &nbsp;&nbsp; .54 | &nbsp;&nbsp; .33 |
| 12/31/2020 | 10.54 | &nbsp;&nbsp; .08 | &nbsp;&nbsp; .63 | &nbsp;&nbsp; .71 | &nbsp;&nbsp; (.14)<br>| &nbsp;&nbsp; (.02)<br>| &nbsp;&nbsp; (.16)<br>| 11.09 | 6.72 | &nbsp;&nbsp; 58 | &nbsp;&nbsp; .73 | &nbsp;&nbsp; .60 | &nbsp;&nbsp; .68 |
| **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  |
| 6/30/2025<sup>4,5</sup> <br>| 8.86 | &nbsp;&nbsp; .20 | &nbsp;&nbsp; .23 | &nbsp;&nbsp; .43 | &nbsp;&nbsp; (.07)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.07)<br>| 9.22 | 4.86 <br><sup>6</sup><br>| &nbsp;&nbsp; 56 | &nbsp;&nbsp; .85 <br><sup>7</sup><br>| &nbsp;&nbsp; .77 <br><sup>7</sup><br>| 4.53 <br><sup>7</sup><br>|
| 12/31/2024 | 9.23 | &nbsp;&nbsp; .42 | &nbsp;&nbsp; (.38)<br>| &nbsp;&nbsp; .04 | &nbsp;&nbsp; (.41)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.41)<br>| 8.86 | &nbsp;&nbsp; .35 | &nbsp;&nbsp; 49 | &nbsp;&nbsp; .89 | &nbsp;&nbsp; .82 | 4.53 |
| 12/31/2023 | 9.25 | &nbsp;&nbsp; .38 | &nbsp;&nbsp; (.06)<br>| &nbsp;&nbsp; .32 | &nbsp;&nbsp; (.34)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.34)<br>| 9.23 | 3.51 | &nbsp;&nbsp; 45 | &nbsp;&nbsp; .90 | &nbsp;&nbsp; .78 | 4.12 |
| 12/31/2022 | 10.49 | &nbsp;&nbsp; .16 | &nbsp;&nbsp; (1.22)<br>| &nbsp;&nbsp; (1.06)<br>| &nbsp;&nbsp; (.18)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.18)<br>| 9.25 | &nbsp;&nbsp; (10.16)<br>| &nbsp;&nbsp; 40 | &nbsp;&nbsp; .94 | &nbsp;&nbsp; .79 | 1.66 |
| 12/31/2021 | 10.97 | &nbsp;&nbsp; .01 | &nbsp;&nbsp; (.09)<br>| &nbsp;&nbsp; (.08)<br>| &nbsp;&nbsp; (.03)<br>| &nbsp;&nbsp; (.37)<br>| &nbsp;&nbsp; (.40)<br>| 10.49 | &nbsp;&nbsp; (.78)<br>| &nbsp;&nbsp; 43 | &nbsp;&nbsp; .99 | &nbsp;&nbsp; .79 | &nbsp;&nbsp; .08 |
| 12/31/2020 | 10.44 | &nbsp;&nbsp; .04 | &nbsp;&nbsp; .63 | &nbsp;&nbsp; .67 | &nbsp;&nbsp; (.12)<br>| &nbsp;&nbsp; (.02)<br>| &nbsp;&nbsp; (.14)<br>| 10.97 | 6.38 | &nbsp;&nbsp; 37 | &nbsp;&nbsp; .98 | &nbsp;&nbsp; .85 | &nbsp;&nbsp; .41 |

---

Refer to the end of the table(s) for footnote(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **370** |

---

------

Financial highlights (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | **Net asset** <br>**value,** <br>**end** <br>**of year** | **Total return** | **Net assets,** <br>**end of year** <br>**(in millions)** | **Ratio of** <br>**expenses** <br>**to average** <br>**net assets** | **Ratio of** <br>**net income** <br>**(loss)** <br>**to average** <br>**net assets** |
| **Year ended**  | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Net** <br>**investment** <br>**income** <br>**(loss)**<br>| **Net gains** <br>**(losses) on** <br>**securities** <br>**(both** <br>**realized and** <br>**unrealized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**(from net** <br>**investment** <br>**income)**<br>| **Distributions** <br>**(from capital** <br>**gains)**<br>| **Total** <br>**dividends** <br>**and** <br>**distributions**<br>| **Net asset** <br>**value,** <br>**end** <br>**of year** | **Total return** | **Net assets,** <br>**end of year** <br>**(in millions)** | **Ratio of** <br>**expenses** <br>**to average** <br>**net assets** | **Ratio of** <br>**net income** <br>**(loss)** <br>**to average** <br>**net assets** |
| **Ultra-Short Bond Fund** | **Ultra-Short Bond Fund** | **Ultra-Short Bond Fund** | **Ultra-Short Bond Fund** | **Ultra-Short Bond Fund** | **Ultra-Short Bond Fund** | **Ultra-Short Bond Fund** | **Ultra-Short Bond Fund** | **Ultra-Short Bond Fund** | **Ultra-Short Bond Fund** | **Ultra-Short Bond Fund** | **Ultra-Short Bond Fund** | **Ultra-Short Bond Fund** |
| **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  |
| 6/30/2025<sup>4,5</sup> <br>| $11.31 | &nbsp;&nbsp; $.23 | &nbsp;&nbsp; $.01 | &nbsp;&nbsp; $.24 | &nbsp;&nbsp; $(.09)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(.09)<br>| &nbsp;&nbsp; $11.46 | 2.13 %<sup>6</sup><br>| &nbsp;&nbsp; $34 | &nbsp;&nbsp; .29 %<sup>7</sup><br>| 4.13 %<sup>7</sup><br>|
| 12/31/2024 | 11.35 | &nbsp;&nbsp; .58 | &nbsp;&nbsp; (.01)<br>| &nbsp;&nbsp; .57 | &nbsp;&nbsp; (.61)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.61)<br>| 11.31 | 5.08 | &nbsp;&nbsp; 39 | &nbsp;&nbsp; .30 | 4.98 |
| 12/31/2023 | 11.35 | &nbsp;&nbsp; .55 | &nbsp;&nbsp; .01 | &nbsp;&nbsp; .56 | &nbsp;&nbsp; (.56)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.56)<br>| 11.35 | 4.94 | &nbsp;&nbsp; 40 | &nbsp;&nbsp; .30 | 4.81 |
| 12/31/2022 | 11.27 | &nbsp;&nbsp; .17 | &nbsp;&nbsp; (.01)<br>| &nbsp;&nbsp; .16 | &nbsp;&nbsp; (.08)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.08)<br>| 11.35 | 1.42 | &nbsp;&nbsp; 51 | &nbsp;&nbsp; .32 | 1.48 |
| 12/31/2021 | 11.31 | &nbsp;&nbsp; (.03)<br>| &nbsp;&nbsp; (.01)<br>| &nbsp;&nbsp; (.04)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | 11.27 | &nbsp;&nbsp; (.35)<br>| &nbsp;&nbsp; 37 | &nbsp;&nbsp; .37 | &nbsp;&nbsp; (.28)<br>|
| 12/31/2020 | 11.30 | &nbsp;&nbsp; .02 | &nbsp;&nbsp; .02 | &nbsp;&nbsp; .04 | &nbsp;&nbsp; (.03)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.03)<br>| 11.31 | &nbsp;&nbsp; .34 | &nbsp;&nbsp; 44 | &nbsp;&nbsp; .37 | &nbsp;&nbsp; .16 |
| **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  |
| 6/30/2025<sup>4,5</sup> <br>| 11.31 | &nbsp;&nbsp; .22 | &nbsp;&nbsp; — <br><sup>8</sup><br>| &nbsp;&nbsp; .22 | &nbsp;&nbsp; (.09)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.09)<br>| 11.44 | 1.91 <br><sup>6</sup><br>| &nbsp;&nbsp; — <br><sup>10</sup><br>| &nbsp;&nbsp; .52 <br><sup>7</sup><br>| 3.91 <br><sup>7</sup><br>|
| 12/31/2024 | 11.35 | &nbsp;&nbsp; .55 | &nbsp;&nbsp; — <br><sup>8</sup><br>| &nbsp;&nbsp; .55 | &nbsp;&nbsp; (.59)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.59)<br>| 11.31 | 4.86 | &nbsp;&nbsp; — <br><sup>10</sup><br>| &nbsp;&nbsp; .53 | 4.74 |
| 12/31/2023 | 11.35 | &nbsp;&nbsp; .54 | &nbsp;&nbsp; — | &nbsp;&nbsp; .54 | &nbsp;&nbsp; (.54)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.54)<br>| 11.35 | 4.79 | &nbsp;&nbsp; — <br><sup>10</sup><br>| &nbsp;&nbsp; .53 | 4.69 |
| 12/31/2022 | 11.28 | &nbsp;&nbsp; .16 | &nbsp;&nbsp; (.01)<br>| &nbsp;&nbsp; .15 | &nbsp;&nbsp; (.08)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.08)<br>| 11.35 | 1.32 | &nbsp;&nbsp; — <br><sup>10</sup><br>| &nbsp;&nbsp; .31 | 1.40 |
| 12/31/2021 | 11.31 | &nbsp;&nbsp; (.03)<br>| &nbsp;&nbsp; — <br><sup>8</sup><br>| &nbsp;&nbsp; (.03)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | 11.28 | &nbsp;&nbsp; (.27)<br>| &nbsp;&nbsp; — <br><sup>10</sup><br>| &nbsp;&nbsp; .36 | &nbsp;&nbsp; (.28)<br>|
| 12/31/2020 | 11.30 | &nbsp;&nbsp; .03 | &nbsp;&nbsp; .01 | &nbsp;&nbsp; .04 | &nbsp;&nbsp; (.03)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.03)<br>| 11.31 | &nbsp;&nbsp; .32 | &nbsp;&nbsp; — <br><sup>10</sup><br>| &nbsp;&nbsp; .35 | &nbsp;&nbsp; .26 |
| **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  |
| 6/30/2025<sup>4,5</sup> <br>| 10.93 | &nbsp;&nbsp; .21 | &nbsp;&nbsp; — <br><sup>8</sup><br>| &nbsp;&nbsp; .21 | &nbsp;&nbsp; (.09)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.09)<br>| 11.05 | 1.88 <br><sup>6</sup><br>| &nbsp;&nbsp; 228 | &nbsp;&nbsp; .54 <br><sup>7</sup><br>| 3.88 <br><sup>7</sup><br>|
| 12/31/2024 | 10.98 | &nbsp;&nbsp; .53 | &nbsp;&nbsp; — <br><sup>8</sup><br>| &nbsp;&nbsp; .53 | &nbsp;&nbsp; (.58)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.58)<br>| 10.93 | 4.89 | &nbsp;&nbsp; 245 | &nbsp;&nbsp; .55 | 4.73 |
| 12/31/2023 | 11.00 | &nbsp;&nbsp; .51 | &nbsp;&nbsp; — <br><sup>8</sup><br>| &nbsp;&nbsp; .51 | &nbsp;&nbsp; (.53)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.53)<br>| 10.98 | 4.64 | &nbsp;&nbsp; 273 | &nbsp;&nbsp; .55 | 4.56 |
| 12/31/2022 | 10.93 | &nbsp;&nbsp; .13 | &nbsp;&nbsp; — <br><sup>8</sup><br>| &nbsp;&nbsp; .13 | &nbsp;&nbsp; (.06)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.06)<br>| 11.00 | 1.17 | &nbsp;&nbsp; 297 | &nbsp;&nbsp; .57 | 1.23 |
| 12/31/2021 | 10.99 | &nbsp;&nbsp; (.06)<br>| &nbsp;&nbsp; — <br><sup>8</sup><br>| &nbsp;&nbsp; (.06)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | 10.93 | &nbsp;&nbsp; (.55)<br>| &nbsp;&nbsp; 245 | &nbsp;&nbsp; .62 | &nbsp;&nbsp; (.53)<br>|
| 12/31/2020 | 11.01 | &nbsp;&nbsp; — <br><sup>8</sup><br>| &nbsp;&nbsp; — <br><sup>8</sup><br>| &nbsp;&nbsp; — <br><sup>8</sup><br>| &nbsp;&nbsp; (.02)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.02)<br>| 10.99 | &nbsp;&nbsp; .03 | &nbsp;&nbsp; 288 | &nbsp;&nbsp; .62 | &nbsp;&nbsp; (.05)<br>|
| **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  |
| 6/30/2025<sup>4,5</sup> <br>| 11.08 | &nbsp;&nbsp; .22 | &nbsp;&nbsp; — <br><sup>8</sup><br>| &nbsp;&nbsp; .22 | &nbsp;&nbsp; (.09)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.09)<br>| 11.21 | 1.96 <br><sup>6</sup><br>| &nbsp;&nbsp; 4 | &nbsp;&nbsp; .47 <br><sup>7</sup><br>| 3.95 <br><sup>7</sup><br>|
| 12/31/2024 | 11.13 | &nbsp;&nbsp; .54 | &nbsp;&nbsp; — <br><sup>8</sup><br>| &nbsp;&nbsp; .54 | &nbsp;&nbsp; (.59)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.59)<br>| 11.08 | 4.91 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; .48 | 4.79 |
| 12/31/2023 | 11.14 | &nbsp;&nbsp; .52 | &nbsp;&nbsp; .01 | &nbsp;&nbsp; .53 | &nbsp;&nbsp; (.54)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.54)<br>| 11.13 | 4.75 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; .48 | 4.64 |
| 12/31/2022 | 11.07 | &nbsp;&nbsp; .13 | &nbsp;&nbsp; — <br><sup>8</sup><br>| &nbsp;&nbsp; .13 | &nbsp;&nbsp; (.06)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.06)<br>| 11.14 | 1.19 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; .50 | 1.19 |
| 12/31/2021 | 11.12 | &nbsp;&nbsp; (.05)<br>| &nbsp;&nbsp; — <br><sup>8</sup><br>| &nbsp;&nbsp; (.05)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | 11.07 | &nbsp;&nbsp; (.45)<br>| &nbsp;&nbsp; 5 | &nbsp;&nbsp; .55 | &nbsp;&nbsp; (.46)<br>|
| 12/31/2020 | 11.13 | &nbsp;&nbsp; — <br><sup>8</sup><br>| &nbsp;&nbsp; .02 | &nbsp;&nbsp; .02 | &nbsp;&nbsp; (.03)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.03)<br>| 11.12 | &nbsp;&nbsp; .13 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; .55 | &nbsp;&nbsp; .03 |
| **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  |
| 6/30/2025<sup>4,5</sup> <br>| 11.00 | &nbsp;&nbsp; .20 | &nbsp;&nbsp; (.01)<br>| &nbsp;&nbsp; .19 | &nbsp;&nbsp; (.08)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.08)<br>| 11.11 | 1.76 <br><sup>6</sup><br>| &nbsp;&nbsp; 58 | &nbsp;&nbsp; .79 <br><sup>7</sup><br>| 3.63 <br><sup>7</sup><br>|
| 12/31/2024 | 11.05 | &nbsp;&nbsp; .50 | &nbsp;&nbsp; .01 | &nbsp;&nbsp; .51 | &nbsp;&nbsp; (.56)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.56)<br>| 11.00 | 4.62 | &nbsp;&nbsp; 51 | &nbsp;&nbsp; .80 | 4.47 |
| 12/31/2023 | 11.05 | &nbsp;&nbsp; .48 | &nbsp;&nbsp; .01 | &nbsp;&nbsp; .49 | &nbsp;&nbsp; (.49)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.49)<br>| 11.05 | 4.44 | &nbsp;&nbsp; 56 | &nbsp;&nbsp; .80 | 4.28 |
| 12/31/2022 | 11.00 | &nbsp;&nbsp; .12 | &nbsp;&nbsp; (.03)<br>| &nbsp;&nbsp; .09 | &nbsp;&nbsp; (.04)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.04)<br>| 11.05 | &nbsp;&nbsp; .83 | &nbsp;&nbsp; 80 | &nbsp;&nbsp; .82 | 1.05 |
| 12/31/2021 | 11.08 | &nbsp;&nbsp; (.09)<br>| &nbsp;&nbsp; .01 | &nbsp;&nbsp; (.08)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | 11.00 | &nbsp;&nbsp; (.72)<br>| &nbsp;&nbsp; 46 | &nbsp;&nbsp; .87 | &nbsp;&nbsp; (.79)<br>|
| 12/31/2020 | 11.13 | &nbsp;&nbsp; (.04)<br>| &nbsp;&nbsp; .01 | &nbsp;&nbsp; (.03)<br>| &nbsp;&nbsp; (.02)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.02)<br>| 11.08 | &nbsp;&nbsp; (.25)<br>| &nbsp;&nbsp; 40 | &nbsp;&nbsp; .87 | &nbsp;&nbsp; (.35)<br>|

---

Refer to the end of the table(s) for footnote(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **371** | American Funds Insurance Series |

---

------

Financial highlights (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | **Net asset** <br>**value,** <br>**end** <br>**of year** | **Total return**<sup>2</sup>  | **Net assets,** <br>**end of year** <br>**(in millions)** | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets before** <br>**waivers/** <br>**reimbursements** | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets after** <br>**waivers/** <br>**reimbursements**<sup>2</sup>  | **Ratio of** <br>**net income** <br>**(loss)** <br>**to average** <br>**net assets**<sup>2</sup>  |
| **Year ended**  | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Net** <br>**investment** <br>**income** <br>**(loss)**<br>| **Net gains** <br>**(losses) on** <br>**securities** <br>**(both** <br>**realized and** <br>**unrealized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**(from net** <br>**investment** <br>**income)**<br>| **Distributions** <br>**(from capital** <br>**gains)**<br>| **Total** <br>**dividends** <br>**and** <br>**distributions**<br>| **Net asset** <br>**value,** <br>**end** <br>**of year** | **Total return**<sup>2</sup>  | **Net assets,** <br>**end of year** <br>**(in millions)** | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets before** <br>**waivers/** <br>**reimbursements** | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets after** <br>**waivers/** <br>**reimbursements**<sup>2</sup>  | **Ratio of** <br>**net income** <br>**(loss)** <br>**to average** <br>**net assets**<sup>2</sup>  |
| **U.S. Government Securities Fund** | **U.S. Government Securities Fund** | **U.S. Government Securities Fund** | **U.S. Government Securities Fund** | **U.S. Government Securities Fund** | **U.S. Government Securities Fund** | **U.S. Government Securities Fund** | **U.S. Government Securities Fund** | **U.S. Government Securities Fund** | **U.S. Government Securities Fund** | **U.S. Government Securities Fund** | **U.S. Government Securities Fund** | **U.S. Government Securities Fund** | **U.S. Government Securities Fund** |
| **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  | **Class 1:**  |
| 6/30/2025<sup>4,5</sup> <br>| $9.59 | &nbsp;&nbsp; $.22 | &nbsp;&nbsp; $.25 | &nbsp;&nbsp; $.47 | &nbsp;&nbsp; $(.08)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(.08)<br>| &nbsp;&nbsp; $9.98 | 4.94 %<sup>6</sup><br>| &nbsp;&nbsp; $270 | &nbsp;&nbsp; .33 %<sup>7</sup><br>| &nbsp;&nbsp; .26 %<sup>7</sup><br>| 4.45 %<sup>7</sup><br>|
| 12/31/2024 | 9.91 | &nbsp;&nbsp; .45 | &nbsp;&nbsp; (.35)<br>| &nbsp;&nbsp; .10 | &nbsp;&nbsp; (.42)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.42)<br>| 9.59 | &nbsp;&nbsp; .99 | &nbsp;&nbsp; 268 | &nbsp;&nbsp; .33 | &nbsp;&nbsp; .27 | 4.53 |
| 12/31/2023 | 9.99 | &nbsp;&nbsp; .40 | &nbsp;&nbsp; (.09)<br>| &nbsp;&nbsp; .31 | &nbsp;&nbsp; (.39)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.39)<br>| 9.91 | 3.21 | &nbsp;&nbsp; 257 | &nbsp;&nbsp; .33 | &nbsp;&nbsp; .21 | 4.05 |
| 12/31/2022 | 11.67 | &nbsp;&nbsp; .32 | &nbsp;&nbsp; (1.56)<br>| &nbsp;&nbsp; (1.24)<br>| &nbsp;&nbsp; (.44)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.44)<br>| 9.99 | &nbsp;&nbsp; (10.75)<br>| &nbsp;&nbsp; 242 | &nbsp;&nbsp; .36 | &nbsp;&nbsp; .22 | 2.90 |
| 12/31/2021 | 13.04 | &nbsp;&nbsp; .18 | &nbsp;&nbsp; (.26)<br>| &nbsp;&nbsp; (.08)<br>| &nbsp;&nbsp; (.18)<br>| &nbsp;&nbsp; (1.11)<br>| &nbsp;&nbsp; (1.29)<br>| 11.67 | &nbsp;&nbsp; (.44)<br>| &nbsp;&nbsp; 522 | &nbsp;&nbsp; .39 | &nbsp;&nbsp; .29 | 1.50 |
| 12/31/2020 | 12.34 | &nbsp;&nbsp; .16 | 1.07 | 1.23 | &nbsp;&nbsp; (.26)<br>| &nbsp;&nbsp; (.27)<br>| &nbsp;&nbsp; (.53)<br>| 13.04 | 10.09 | &nbsp;&nbsp; 429 | &nbsp;&nbsp; .38 | &nbsp;&nbsp; .38 | 1.21 |
| **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  | **Class 1A:**  |
| 6/30/2025<sup>4,5</sup> <br>| 9.53 | &nbsp;&nbsp; .20 | &nbsp;&nbsp; .26 | &nbsp;&nbsp; .46 | &nbsp;&nbsp; (.08)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.08)<br>| 9.91 | 4.82 <br><sup>6</sup><br>| &nbsp;&nbsp; 277 | &nbsp;&nbsp; .58 <br><sup>7</sup><br>| &nbsp;&nbsp; .51 <br><sup>7</sup><br>| 4.20 <br><sup>7</sup><br>|
| 12/31/2024 | 9.87 | &nbsp;&nbsp; .42 | &nbsp;&nbsp; (.35)<br>| &nbsp;&nbsp; .07 | &nbsp;&nbsp; (.41)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.41)<br>| 9.53 | &nbsp;&nbsp; .70 | &nbsp;&nbsp; 286 | &nbsp;&nbsp; .58 | &nbsp;&nbsp; .51 | 4.23 |
| 12/31/2023 | 9.96 | &nbsp;&nbsp; .38 | &nbsp;&nbsp; (.10)<br>| &nbsp;&nbsp; .28 | &nbsp;&nbsp; (.37)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.37)<br>| 9.87 | 2.88 | &nbsp;&nbsp; 5 | &nbsp;&nbsp; .58 | &nbsp;&nbsp; .46 | 3.83 |
| 12/31/2022 | 11.63 | &nbsp;&nbsp; .29 | &nbsp;&nbsp; (1.55)<br>| &nbsp;&nbsp; (1.26)<br>| &nbsp;&nbsp; (.41)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.41)<br>| 9.96 | &nbsp;&nbsp; (10.93)<br>| &nbsp;&nbsp; 4 | &nbsp;&nbsp; .60 | &nbsp;&nbsp; .47 | 2.70 |
| 12/31/2021 | 13.00 | &nbsp;&nbsp; .16 | &nbsp;&nbsp; (.26)<br>| &nbsp;&nbsp; (.10)<br>| &nbsp;&nbsp; (.16)<br>| &nbsp;&nbsp; (1.11)<br>| &nbsp;&nbsp; (1.27)<br>| 11.63 | &nbsp;&nbsp; (.65)<br>| &nbsp;&nbsp; 5 | &nbsp;&nbsp; .64 | &nbsp;&nbsp; .53 | 1.28 |
| 12/31/2020 | 12.32 | &nbsp;&nbsp; .09 | 1.10 | 1.19 | &nbsp;&nbsp; (.24)<br>| &nbsp;&nbsp; (.27)<br>| &nbsp;&nbsp; (.51)<br>| 13.00 | 9.75 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; .64 | &nbsp;&nbsp; .64 | &nbsp;&nbsp; .69 |
| **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  | **Class 2:**  |
| 6/30/2025<sup>4,5</sup> <br>| 9.46 | &nbsp;&nbsp; .20 | &nbsp;&nbsp; .25 | &nbsp;&nbsp; .45 | &nbsp;&nbsp; (.08)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.08)<br>| 9.83 | 4.75 <br><sup>6</sup><br>| &nbsp;&nbsp; 1029 | &nbsp;&nbsp; .58 <br><sup>7</sup><br>| &nbsp;&nbsp; .51 <br><sup>7</sup><br>| 4.20 <br><sup>7</sup><br>|
| 12/31/2024 | 9.78 | &nbsp;&nbsp; .42 | &nbsp;&nbsp; (.34)<br>| &nbsp;&nbsp; .08 | &nbsp;&nbsp; (.40)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.40)<br>| 9.46 | &nbsp;&nbsp; .75 | &nbsp;&nbsp; 1051 | &nbsp;&nbsp; .58 | &nbsp;&nbsp; .52 | 4.28 |
| 12/31/2023 | 9.87 | &nbsp;&nbsp; .37 | &nbsp;&nbsp; (.09)<br>| &nbsp;&nbsp; .28 | &nbsp;&nbsp; (.37)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.37)<br>| 9.78 | 2.89 | &nbsp;&nbsp; 1073 | &nbsp;&nbsp; .58 | &nbsp;&nbsp; .46 | 3.80 |
| 12/31/2022 | 11.53 | &nbsp;&nbsp; .29 | &nbsp;&nbsp; (1.54)<br>| &nbsp;&nbsp; (1.25)<br>| &nbsp;&nbsp; (.41)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.41)<br>| 9.87 | &nbsp;&nbsp; (10.95)<br>| &nbsp;&nbsp; 1059 | &nbsp;&nbsp; .61 | &nbsp;&nbsp; .47 | 2.69 |
| 12/31/2021 | 12.89 | &nbsp;&nbsp; .15 | &nbsp;&nbsp; (.25)<br>| &nbsp;&nbsp; (.10)<br>| &nbsp;&nbsp; (.15)<br>| &nbsp;&nbsp; (1.11)<br>| &nbsp;&nbsp; (1.26)<br>| 11.53 | &nbsp;&nbsp; (.62)<br>| &nbsp;&nbsp; 1391 | &nbsp;&nbsp; .64 | &nbsp;&nbsp; .54 | 1.24 |
| 12/31/2020 | 12.21 | &nbsp;&nbsp; .09 | 1.10 | 1.19 | &nbsp;&nbsp; (.24)<br>| &nbsp;&nbsp; (.27)<br>| &nbsp;&nbsp; (.51)<br>| 12.89 | 9.80 | &nbsp;&nbsp; 1439 | &nbsp;&nbsp; .64 | &nbsp;&nbsp; .64 | &nbsp;&nbsp; .73 |
| **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  | **Class 3:**  |
| 6/30/2025<sup>4,5</sup> <br>| 9.62 | &nbsp;&nbsp; .21 | &nbsp;&nbsp; .25 | &nbsp;&nbsp; .46 | &nbsp;&nbsp; (.08)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.08)<br>| 10.00 | 4.79 <br><sup>6</sup><br>| &nbsp;&nbsp; 5 | &nbsp;&nbsp; .51 <br><sup>7</sup><br>| &nbsp;&nbsp; .44 <br><sup>7</sup><br>| 4.27 <br><sup>7</sup><br>|
| 12/31/2024 | 9.94 | &nbsp;&nbsp; .43 | &nbsp;&nbsp; (.35)<br>| &nbsp;&nbsp; .08 | &nbsp;&nbsp; (.40)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.40)<br>| 9.62 | &nbsp;&nbsp; .79 | &nbsp;&nbsp; 5 | &nbsp;&nbsp; .51 | &nbsp;&nbsp; .44 | 4.35 |
| 12/31/2023 | 10.02 | &nbsp;&nbsp; .39 | &nbsp;&nbsp; (.10)<br>| &nbsp;&nbsp; .29 | &nbsp;&nbsp; (.37)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.37)<br>| 9.94 | 3.00 | &nbsp;&nbsp; 6 | &nbsp;&nbsp; .51 | &nbsp;&nbsp; .39 | 3.85 |
| 12/31/2022 | 11.70 | &nbsp;&nbsp; .30 | &nbsp;&nbsp; (1.57)<br>| &nbsp;&nbsp; (1.27)<br>| &nbsp;&nbsp; (.41)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.41)<br>| 10.02 | &nbsp;&nbsp; (10.90)<br>| &nbsp;&nbsp; 6 | &nbsp;&nbsp; .54 | &nbsp;&nbsp; .40 | 2.76 |
| 12/31/2021 | 13.07 | &nbsp;&nbsp; .16 | &nbsp;&nbsp; (.26)<br>| &nbsp;&nbsp; (.10)<br>| &nbsp;&nbsp; (.16)<br>| &nbsp;&nbsp; (1.11)<br>| &nbsp;&nbsp; (1.27)<br>| 11.70 | &nbsp;&nbsp; (.62)<br>| &nbsp;&nbsp; 9 | &nbsp;&nbsp; .57 | &nbsp;&nbsp; .47 | 1.31 |
| 12/31/2020 | 12.37 | &nbsp;&nbsp; .10 | 1.12 | 1.22 | &nbsp;&nbsp; (.25)<br>| &nbsp;&nbsp; (.27)<br>| &nbsp;&nbsp; (.52)<br>| 13.07 | 9.91 | &nbsp;&nbsp; 10 | &nbsp;&nbsp; .57 | &nbsp;&nbsp; .57 | &nbsp;&nbsp; .78 |
| **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  | **Class 4:**  |
| 6/30/2025<sup>4,5</sup> <br>| 9.44 | &nbsp;&nbsp; .19 | &nbsp;&nbsp; .26 | &nbsp;&nbsp; .45 | &nbsp;&nbsp; (.08)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.08)<br>| 9.81 | 4.73 <br><sup>6</sup><br>| &nbsp;&nbsp; 236 | &nbsp;&nbsp; .83 <br><sup>7</sup><br>| &nbsp;&nbsp; .76 <br><sup>7</sup><br>| 3.95 <br><sup>7</sup><br>|
| 12/31/2024 | 9.77 | &nbsp;&nbsp; .39 | &nbsp;&nbsp; (.34)<br>| &nbsp;&nbsp; .05 | &nbsp;&nbsp; (.38)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.38)<br>| 9.44 | &nbsp;&nbsp; .44 | &nbsp;&nbsp; 210 | &nbsp;&nbsp; .83 | &nbsp;&nbsp; .77 | 4.02 |
| 12/31/2023 | 9.86 | &nbsp;&nbsp; .35 | &nbsp;&nbsp; (.10)<br>| &nbsp;&nbsp; .25 | &nbsp;&nbsp; (.34)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.34)<br>| 9.77 | 2.62 | &nbsp;&nbsp; 183 | &nbsp;&nbsp; .83 | &nbsp;&nbsp; .71 | 3.54 |
| 12/31/2022 | 11.52 | &nbsp;&nbsp; .26 | &nbsp;&nbsp; (1.54)<br>| &nbsp;&nbsp; (1.28)<br>| &nbsp;&nbsp; (.38)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.38)<br>| 9.86 | &nbsp;&nbsp; (11.19)<br>| &nbsp;&nbsp; 190 | &nbsp;&nbsp; .85 | &nbsp;&nbsp; .72 | 2.45 |
| 12/31/2021 | 12.88 | &nbsp;&nbsp; .12 | &nbsp;&nbsp; (.25)<br>| &nbsp;&nbsp; (.13)<br>| &nbsp;&nbsp; (.12)<br>| &nbsp;&nbsp; (1.11)<br>| &nbsp;&nbsp; (1.23)<br>| 11.52 | &nbsp;&nbsp; (.88)<br>| &nbsp;&nbsp; 238 | &nbsp;&nbsp; .89 | &nbsp;&nbsp; .79 | &nbsp;&nbsp; .98 |
| 12/31/2020 | 12.22 | &nbsp;&nbsp; .05 | 1.10 | 1.15 | &nbsp;&nbsp; (.22)<br>| &nbsp;&nbsp; (.27)<br>| &nbsp;&nbsp; (.49)<br>| 12.88 | 9.48 | &nbsp;&nbsp; 272 | &nbsp;&nbsp; .89 | &nbsp;&nbsp; .89 | &nbsp;&nbsp; .42 |

---

Refer to the end of the table(s) for footnote(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **372** |

---

------

Financial highlights (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | **Net asset** <br>**value, end** <br>**of year** | **Total return**<sup>2</sup>  | **Net assets,** <br>**end of year** <br>**(in millions)** | **Ratio of** <br>**expenses** <br>**to average** <br>**net assets** <br>**before** <br>**waivers/** <br>**reimburse-** <br>**ments**<sup>13</sup>  | **Ratio of** <br>**expenses** <br>**to average** <br>**net assets** <br>**after** <br>**waivers/** <br>**reimburse-** <br>**ments**<sup>2,13</sup>  | **Net** <br>**effective** <br>**expense** <br>**ratio**<sup>2,5,14</sup>  | **Ratio of** <br>**net income** <br>**(loss)** <br>**to average** <br>**net assets**<sup>2</sup>  |
| **Year ended** | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Net** <br>**investment** <br>**income** <br>**(loss)**<br>| **Net gains** <br>**(losses) on** <br>**securities** <br>**(both** <br>**realized and** <br>**unrealized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**(from net** <br>**investment** <br>**income)**<br>| **Distributions** <br>**(from capital** <br>**gains)**<br>| **Total** <br>**dividends** <br>**and** <br>**distributions**<br>| **Net asset** <br>**value, end** <br>**of year** | **Total return**<sup>2</sup>  | **Net assets,** <br>**end of year** <br>**(in millions)** | **Ratio of** <br>**expenses** <br>**to average** <br>**net assets** <br>**before** <br>**waivers/** <br>**reimburse-** <br>**ments**<sup>13</sup>  | **Ratio of** <br>**expenses** <br>**to average** <br>**net assets** <br>**after** <br>**waivers/** <br>**reimburse-** <br>**ments**<sup>2,13</sup>  | **Net** <br>**effective** <br>**expense** <br>**ratio**<sup>2,5,14</sup>  | **Ratio of** <br>**net income** <br>**(loss)** <br>**to average** <br>**net assets**<sup>2</sup>  |
| **Managed Risk Growth Fund** | **Managed Risk Growth Fund** | **Managed Risk Growth Fund** | **Managed Risk Growth Fund** | **Managed Risk Growth Fund** | **Managed Risk Growth Fund** | **Managed Risk Growth Fund** | **Managed Risk Growth Fund** | **Managed Risk Growth Fund** | **Managed Risk Growth Fund** | **Managed Risk Growth Fund** | **Managed Risk Growth Fund** | **Managed Risk Growth Fund** | **Managed Risk Growth Fund** | **Managed Risk Growth Fund** |
| **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  |
| 6/30/2025<sup>4,5</sup> <br>| $13.35 | $.02 | $.70 | $.72 | $(.11)<br>| $(.57)<br>| $(.68)<br>| $13.39 | 5.67 %<sup>6</sup><br>| $14 | .39 %<sup>7</sup><br>| .36 %<sup>7</sup><br>| .68 %<sup>7</sup><br>| .33 %<sup>7</sup><br>|
| 12/31/2024 | 10.86 | .10 | 2.48 | 2.58 | (.09)<br>|  | (.09)<br>| 13.35 | 23.82 | 14 | .42 | .37 | .69 | .81 |
| 12/31/2023 | 11.37 | .08 | 2.28 | 2.36 | (.08)<br>| (2.79)<br>| (2.87)<br>| 10.86 | 23.77 | 13 | .42 | .37 | .70 | .77 |
| 12/31/2022 | 18.53 | .06 | (4.46)<br>| (4.40)<br>| (.22)<br>| (2.54)<br>| (2.76)<br>| 11.37 | (24.62)<br>| 9 | .41 | .36 | .68 | .47 |
| 12/31/2021 | 17.25 | .04 | 2.16 | 2.20 | (.18)<br>| (.74)<br>| (.92)<br>| 18.53 | 13.08 | 13 | .41 | .36 | .69 | .19 |
| 12/31/2020 | 13.78 | .07 | 4.20 | 4.27 | (.12)<br>| (.68)<br>| (.80)<br>| 17.25 | 32.45 | 11 | .42 | .37 | .72 | .49 |
| **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  |
| 6/30/2025<sup>4,5</sup> <br>| 13.19 | — <br><sup>8</sup><br>| .70 | .70 | (.08)<br>| (.57)<br>| (.65)<br>| 13.24 | 5.53 <br><sup>6</sup><br>| 506 | .65 <br><sup>7</sup><br>| .62 <br><sup>7</sup><br>| .94 <br><sup>7</sup><br>| .08 <br><sup>7</sup><br>|
| 12/31/2024 | 10.73 | .06 | 2.46 | 2.52 | (.06)<br>|  | (.06)<br>| 13.19 | 23.50 | 513 | .67 | .62 | .94 | .52 |
| 12/31/2023 | 11.28 | .05 | 2.26 | 2.31 | (.07)<br>| (2.79)<br>| (2.86)<br>| 10.73 | 23.50 | 495 | .67 | .62 | .95 | .43 |
| 12/31/2022 | 18.42 | .03 | (4.45)<br>| (4.42)<br>| (.18)<br>| (2.54)<br>| (2.72)<br>| 11.28 | (24.88)<br>| 445 | .67 | .62 | .94 | .20 |
| 12/31/2021 | 17.11 | (.01)<br>| 2.16 | 2.15 | (.10)<br>| (.74)<br>| (.84)<br>| 18.42 | 12.89 | 584 | .67 | .62 | .95 | (.07)<br>|
| 12/31/2020 | 13.71 | .03 | 4.16 | 4.19 | (.11)<br>| (.68)<br>| (.79)<br>| 17.11 | 32.03 | 554 | .67 | .62 | .97 | .20 |
| **Managed Risk International Fund** | **Managed Risk International Fund** | **Managed Risk International Fund** | **Managed Risk International Fund** | **Managed Risk International Fund** | **Managed Risk International Fund** | **Managed Risk International Fund** | **Managed Risk International Fund** | **Managed Risk International Fund** | **Managed Risk International Fund** | **Managed Risk International Fund** | **Managed Risk International Fund** | **Managed Risk International Fund** | **Managed Risk International Fund** | **Managed Risk International Fund** |
| **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  |
| 6/30/2025<sup>4,5</sup> <br>| $8.23 | $— <br><sup>8</sup><br>| $.30 | $.30 | $(.13)<br>| $— | $(.13)<br>| $8.40 | 3.73 %<sup>6</sup><br>| $2 | .43 %<sup>7</sup><br>| .39 %<sup>7</sup><br>| .86 %<sup>7</sup><br>| .08 %<sup>7</sup><br>|
| 12/31/2024 | 8.36 | .13 | (.12)<br>| .01 | (.14)<br>|  | (.14)<br>| 8.23 | (.05)<br>| 2 | .46 | .37 | .84 | 1.50 |
| 12/31/2023 | 8.61 | .13 | .41 | .54 | (.15)<br>| (.64)<br>| (.79)<br>| 8.36 | 6.36 | 2 | .46 | .36 | .84 | 1.60 |
| 12/31/2022 | 10.55 | .15 | (1.75)<br>| (1.60)<br>| (.34)<br>|  | (.34)<br>| 8.61 | (15.27)<br>| 2 | .44 | .37 | .85 | 1.70 |
| 12/31/2021 | 11.07 | .24 | (.67)<br>| (.43)<br>| (.09)<br>|  | (.09)<br>| 10.55 | (3.92)<br>| 2 | .44 | .36 | .86 | 2.12 |
| 12/31/2020 | 11.01 | .08 | .22 | .30 | (.16)<br>| (.08)<br>| (.24)<br>| 11.07 | 3.13 | 2 | .43 | .35 | .86 | .82 |
| **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  |
| 6/30/2025<sup>4,5</sup> <br>| 8.18 | (.01)<br>| .31 | .30 | (.11)<br>|  | (.11)<br>| 8.37 | 3.69 <br><sup>6</sup><br>| 112 | .69 <br><sup>7</sup><br>| .66 <br><sup>7</sup><br>| 1.13 <br><sup>7</sup><br>| (.19 )<sup>7</sup><br>|
| 12/31/2024 | 8.32 | .10 | (.13)<br>| (.03)<br>| (.11)<br>|  | (.11)<br>| 8.18 | (.45)<br>| 112 | .72 | .63 | 1.10 | 1.19 |
| 12/31/2023 | 8.58 | .10 | .42 | .52 | (.14)<br>| (.64)<br>| (.78)<br>| 8.32 | 6.22 | 122 | .73 | .63 | 1.11 | 1.21 |
| 12/31/2022 | 10.48 | .12 | (1.74)<br>| (1.62)<br>| (.28)<br>|  | (.28)<br>| 8.58 | (15.54)<br>| 124 | .70 | .63 | 1.11 | 1.36 |
| 12/31/2021 | 10.99 | .20 | (.65)<br>| (.45)<br>| (.06)<br>|  | (.06)<br>| 10.48 | (4.13)<br>| 160 | .71 | .63 | 1.13 | 1.79 |
| 12/31/2020 | 10.92 | .04 | .23 | .27 | (.12)<br>| (.08)<br>| (.20)<br>| 10.99 | 2.80 | 168 | .71 | .63 | 1.14 | .42 |
| **Managed Risk Washington Mutual Investors Fund** | **Managed Risk Washington Mutual Investors Fund** | **Managed Risk Washington Mutual Investors Fund** | **Managed Risk Washington Mutual Investors Fund** | **Managed Risk Washington Mutual Investors Fund** | **Managed Risk Washington Mutual Investors Fund** | **Managed Risk Washington Mutual Investors Fund** | **Managed Risk Washington Mutual Investors Fund** | **Managed Risk Washington Mutual Investors Fund** | **Managed Risk Washington Mutual Investors Fund** | **Managed Risk Washington Mutual Investors Fund** | **Managed Risk Washington Mutual Investors Fund** | **Managed Risk Washington Mutual Investors Fund** | **Managed Risk Washington Mutual Investors Fund** | **Managed Risk Washington Mutual Investors Fund** |
| **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  |
| 6/30/2025<sup>4,5</sup> <br>| $11.76 | $.03 | $.50 | $.53 | $(.18)<br>| $— | $(.18)<br>| $12.11 | 4.56 %<sup>6</sup><br>| $3 | .39 %<sup>7</sup><br>| .36 %<sup>7</sup><br>| .61 %<sup>7</sup><br>| .57 %<sup>7</sup><br>|
| 12/31/2024 | 10.50 | .20 | 1.28 | 1.48 | (.22)<br>|  | (.22)<br>| 11.76 | 14.20 | 3 | .41 | .36 | .61 | 1.80 |
| 12/31/2023 | 11.24 | .20 | .79 | .99 | (.24)<br>| (1.49)<br>| (1.73)<br>| 10.50 | 10.04 | 3 | .42 | .37 | .63 | 1.91 |
| 12/31/2022 | 12.95 | .23 | (1.38)<br>| (1.15)<br>| (.56)<br>|  | (.56)<br>| 11.24 | (8.92)<br>| 3 | .41 | .36 | .60 | 1.96 |
| 12/31/2021 | 11.24 | .16 | 1.79 | 1.95 | (.24)<br>|  | (.24)<br>| 12.95 | 17.46 | 2 | .41 | .36 | .66 | 1.33 |
| 12/31/2020 | 12.01 | .18 | (.35)<br>| (.17)<br>| (.26)<br>| (.34)<br>| (.60)<br>| 11.24 | (.93)<br>| 2 | .40 | .35 | .76 | 1.66 |
| **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  |
| 6/30/2025<sup>4,5</sup> <br>| 11.69 | .02 | .49 | .51 | (.18)<br>|  | (.18)<br>| 12.02 | 4.39 <br><sup>6</sup><br>| 315 | .66 <br><sup>7</sup><br>| .62 <br><sup>7</sup><br>| .87 <br><sup>7</sup><br>| .32 <br><sup>7</sup><br>|
| 12/31/2024 | 10.43 | .17 | 1.28 | 1.45 | (.19)<br>|  | (.19)<br>| 11.69 | 13.99 | 319 | .68 | .63 | .88 | 1.51 |
| 12/31/2023 | 11.18 | .18 | .77 | .95 | (.21)<br>| (1.49)<br>| (1.70)<br>| 10.43 | 9.73 | 322 | .68 | .63 | .89 | 1.71 |
| 12/31/2022 | 12.88 | .19 | (1.37)<br>| (1.18)<br>| (.52)<br>|  | (.52)<br>| 11.18 | (9.16)<br>| 321 | .67 | .62 | .86 | 1.62 |
| 12/31/2021 | 11.18 | .11 | 1.79 | 1.90 | (.20)<br>|  | (.20)<br>| 12.88 | 17.11 | 371 | .68 | .62 | .92 | .91 |
| 12/31/2020 | 11.91 | .13 | (.33)<br>| (.20)<br>| (.19)<br>| (.34)<br>| (.53)<br>| 11.18 | (1.25)<br>| 355 | .68 | .63 | 1.04 | 1.18 |

---

Refer to the end of the table(s) for footnote(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **373** | American Funds Insurance Series |

---

------

Financial highlights (continued)

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset**<br> **value,**<br> **beginning**<br> **of year** | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | **Net asset**<br> **value, end**<br> **of year** | **Total return**<sup>2</sup> | **Net assets,**<br> **end of year**<br> **(in millions)** | **Ratio of**<br> **expenses**<br> **to average** <br> **net assets**<br> **before**<br> **waivers/**<br> **reimburse-**<br> **ments**<sup>13</sup> | **Ratio of**<br> **expenses**<br> **to average**<br> **net assets**<br> **after**<br> **waivers/**<br> **reimburse-**<br> **ments**<sup>2,13</sup> | **Net**<br> **effective**<br> **expense**<br> **ratio**<sup>2,5,14</sup> | **Ratio of**<br> **net income**<br> **(loss)**<br> **to average**<br> **net assets**<sup>2</sup> |
| **Year ended** | **Net asset**<br> **value,**<br> **beginning**<br> **of year** | **Net**<br> **investment**<br> **income**<br> **(loss)**<br>| **Net gains**<br> **(losses) on**<br> **securities**<br> **(both**<br> **realized and**<br> **unrealized)**<br>| **Total from**<br> **investment**<br> **operations**<br>| **Dividends**<br> **(from net**<br> **investment**<br> **income)**<br>| **Distributions**<br> **(from capital**<br> **gains)**<br>| **Total**<br> **dividends**<br> **and**<br> **distributions**<br>| **Net asset**<br> **value, end**<br> **of year** | **Total return**<sup>2</sup> | **Net assets,**<br> **end of year**<br> **(in millions)** | **Ratio of**<br> **expenses**<br> **to average** <br> **net assets**<br> **before**<br> **waivers/**<br> **reimburse-**<br> **ments**<sup>13</sup> | **Ratio of**<br> **expenses**<br> **to average**<br> **net assets**<br> **after**<br> **waivers/**<br> **reimburse-**<br> **ments**<sup>2,13</sup> | **Net**<br> **effective**<br> **expense**<br> **ratio**<sup>2,5,14</sup> | **Ratio of**<br> **net income**<br> **(loss)**<br> **to average**<br> **net assets**<sup>2</sup> |
| **Managed Risk Growth-Income Fund** | **Managed Risk Growth-Income Fund** | **Managed Risk Growth-Income Fund** | **Managed Risk Growth-Income Fund** | **Managed Risk Growth-Income Fund** | **Managed Risk Growth-Income Fund** | **Managed Risk Growth-Income Fund** | **Managed Risk Growth-Income Fund** | **Managed Risk Growth-Income Fund** | **Managed Risk Growth-Income Fund** | **Managed Risk Growth-Income Fund** | **Managed Risk Growth-Income Fund** | **Managed Risk Growth-Income Fund** | **Managed Risk Growth-Income Fund** | **Managed Risk Growth-Income Fund** |
| **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  |
| 6/30/2025<sup>4,5</sup> <br>| $14.35 | $.03 | $.50 | $.53 | $(.20)<br>| $(.56)<br>| $(.76)<br>| $14.12 | 3.89 %<sup>6</sup><br>| $1856 | .39 %<sup>7</sup><br>| .36 %<sup>7</sup><br>| .63 %<sup>7</sup><br>| .49 %<sup>7</sup><br>|
| 12/31/2024 | 12.53 | .21 | 2.02 | 2.23 | (.23)<br>| (.18)<br>| (.41)<br>| 14.35 | 18.03 | 1903 | .41 | .36 | .63 | 1.55 |
| 12/31/2023 | 12.51 | .20 | 1.65 | 1.85 | (.21)<br>| (1.62)<br>| (1.83)<br>| 12.53 | 16.17 | 1910 | .41 | .36 | .63 | 1.64 |
| 12/31/2022 | 15.73 | .18 | (2.79)<br>| (2.61)<br>| (.30)<br>| (.31)<br>| (.61)<br>| 12.51 | (16.74)<br>| 1833 | .41 | .36 | .62 | 1.33 |
| 12/31/2021 | 14.01 | .14 | 1.99 | 2.13 | (.21)<br>| (.20)<br>| (.41)<br>| 15.73 | 15.32 | 2328 | .41 | .36 | .64 | .96 |
| 12/31/2020 | 13.76 | .17 | 1.08 | 1.25 | (.26)<br>| (.74)<br>| (1.00)<br>| 14.01 | 9.85 | 2120 | .41 | .36 | .66 | 1.24 |
| **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  |
| 6/30/2025<sup>4,5</sup> <br>| 14.25 | .02 | .49 | .51 | (.20)<br>| (.56)<br>| (.76)<br>| 14.00 | 3.72 <br><sup>6</sup><br>| 267 | .64 <br><sup>7</sup><br>| .61 <br><sup>7</sup><br>| .88 <br><sup>7</sup><br>| .24 <br><sup>7</sup><br>|
| 12/31/2024 | 12.45 | .17 | 2.01 | 2.18 | (.20)<br>| (.18)<br>| (.38)<br>| 14.25 | 17.69 | 274 | .66 | .61 | .88 | 1.29 |
| 12/31/2023 | 12.44 | .17 | 1.64 | 1.81 | (.18)<br>| (1.62)<br>| (1.80)<br>| 12.45 | 15.90 | 277 | .66 | .61 | .88 | 1.39 |
| 12/31/2022 | 15.64 | .15 | (2.78)<br>| (2.63)<br>| (.26)<br>| (.31)<br>| (.57)<br>| 12.44 | (16.93)<br>| 268 | .66 | .61 | .87 | 1.10 |
| 12/31/2021 | 13.93 | .10 | 1.98 | 2.08 | (.17)<br>| (.20)<br>| (.37)<br>| 15.64 | 15.05 | 340 | .66 | .61 | .89 | .70 |
| 12/31/2020 | 13.69 | .14 | 1.07 | 1.21 | (.23)<br>| (.74)<br>| (.97)<br>| 13.93 | 9.58 | 315 | .66 | .61 | .91 | 1.02 |
| **Managed Risk Asset Allocation Fund** | **Managed Risk Asset Allocation Fund** | **Managed Risk Asset Allocation Fund** | **Managed Risk Asset Allocation Fund** | **Managed Risk Asset Allocation Fund** | **Managed Risk Asset Allocation Fund** | **Managed Risk Asset Allocation Fund** | **Managed Risk Asset Allocation Fund** | **Managed Risk Asset Allocation Fund** | **Managed Risk Asset Allocation Fund** | **Managed Risk Asset Allocation Fund** | **Managed Risk Asset Allocation Fund** | **Managed Risk Asset Allocation Fund** | **Managed Risk Asset Allocation Fund** | **Managed Risk Asset Allocation Fund** |
| **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  | **Class P1:**  |
| 6/30/2025<sup>4,5</sup> <br>| $13.20 | $.05 | $.56 | $.61 | $(.24)<br>| $(.83)<br>| $(1.07)<br>| $12.74 | 4.83 %<sup>6</sup><br>| $12 | .39 %<sup>7</sup><br>| .36 %<sup>7</sup><br>| .65 %<sup>7</sup><br>| .70 %<sup>7</sup><br>|
| 12/31/2024 | 11.90 | .29 | 1.45 | 1.74 | (.27)<br>| (.17)<br>| (.44)<br>| 13.20 | 14.90 | 12 | .41 | .36 | .65 | 2.28 |
| 12/31/2023 | 12.43 | .31 | .87 | 1.18 | (.26)<br>| (1.45)<br>| (1.71)<br>| 11.90 | 10.51 | 10 | .41 | .36 | .66 | 2.61 |
| 12/31/2022 | 15.33 | .24 | (2.34)<br>| (2.10)<br>| (.32)<br>| (.48)<br>| (.80)<br>| 12.43 | (13.75)<br>| 7 | .41 | .36 | .65 | 1.80 |
| 12/31/2021 | 13.84 | .21 | 1.55 | 1.76 | (.27)<br>|  | (.27)<br>| 15.33 | 12.82 | 7 | .41 | .36 | .66 | 1.43 |
| 12/31/2020 | 13.81 | .25 | .51 | .76 | (.21)<br>| (.52)<br>| (.73)<br>| 13.84 | 6.10 | 5 | .41 | .36 | .66 | 1.91 |
| **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  | **Class P2:**  |
| 6/30/2025<sup>4,5</sup> <br>| 12.78 | .03 | .54 | .57 | (.23)<br>| (.83)<br>| (1.06)<br>| 12.29 | 4.71 <br><sup>6</sup><br>| 1942 | .64 <br><sup>7</sup><br>| .61 <br><sup>7</sup><br>| .90 <br><sup>7</sup><br>| .43 <br><sup>7</sup><br>|
| 12/31/2024 | 11.53 | .22 | 1.44 | 1.66 | (.24)<br>| (.17)<br>| (.41)<br>| 12.78 | 14.63 | 2014 | .66 | .61 | .90 | 1.81 |
| 12/31/2023 | 12.09 | .21 | .90 | 1.11 | (.22)<br>| (1.45)<br>| (1.67)<br>| 11.53 | 10.23 | 2093 | .66 | .61 | .91 | 1.86 |
| 12/31/2022 | 14.93 | .18 | (2.25)<br>| (2.07)<br>| (.29)<br>| (.48)<br>| (.77)<br>| 12.09 | (13.97)<br>| 2182 | .66 | .61 | .90 | 1.40 |
| 12/31/2021 | 13.45 | .15 | 1.53 | 1.68 | (.20)<br>|  | (.20)<br>| 14.93 | 12.50 | 2812 | .66 | .61 | .91 | 1.03 |
| 12/31/2020 | 13.46 | .15 | .56 | .71 | (.20)<br>| (.52)<br>| (.72)<br>| 13.45 | 5.88 | 2773 | .66 | .61 | .91 | 1.15 |

---

Refer to the end of the table(s) for footnote(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **374** |

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------

Financial highlights (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Portfolio turnover rate for all share classes** <br>**excluding mortgage dollar roll transactions**<sup>15,16</sup>  | **Six months ended** <br>**June 30, 2025**<sup>4,5,6</sup>  | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** |
| **Portfolio turnover rate for all share classes** <br>**excluding mortgage dollar roll transactions**<sup>15,16</sup>  | **Six months ended** <br>**June 30, 2025**<sup>4,5,6</sup>  | **2024** | **2023** | **2022** | **2021** | **2020** |
| Capital Income Builder | &nbsp;&nbsp; 34<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 49<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 59<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 48<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 60<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 110<br> %<br>|
| Asset Allocation Fund | &nbsp;&nbsp; 33 | &nbsp;&nbsp;&nbsp;&nbsp; 43 | &nbsp;&nbsp;&nbsp;&nbsp; 54 | &nbsp;&nbsp;&nbsp;&nbsp; 42 | &nbsp;&nbsp;&nbsp;&nbsp; 45 | &nbsp;&nbsp;&nbsp;&nbsp; 49 |
| American Funds Global Balanced Fund | &nbsp;&nbsp; 28 | &nbsp;&nbsp;&nbsp;&nbsp; 55 | &nbsp;&nbsp;&nbsp;&nbsp; 43 | &nbsp;&nbsp;&nbsp;&nbsp; 111 | &nbsp;&nbsp;&nbsp;&nbsp; 36 | &nbsp;&nbsp;&nbsp;&nbsp; 68 |
| The Bond Fund of America | &nbsp;&nbsp; 66 | &nbsp;&nbsp;&nbsp;&nbsp; 102 | &nbsp;&nbsp;&nbsp;&nbsp; 129 | &nbsp;&nbsp;&nbsp;&nbsp; 77 | &nbsp;&nbsp;&nbsp;&nbsp; 87 | &nbsp;&nbsp;&nbsp;&nbsp; 72 |
| Capital World Bond Fund | &nbsp;&nbsp; 31 | &nbsp;&nbsp;&nbsp;&nbsp; 54 | &nbsp;&nbsp;&nbsp;&nbsp; 110 | &nbsp;&nbsp;&nbsp;&nbsp; 114 | &nbsp;&nbsp;&nbsp;&nbsp; 64 | &nbsp;&nbsp;&nbsp;&nbsp; 88 |
| American Funds Mortgage Fund | &nbsp;&nbsp; 30 | &nbsp;&nbsp;&nbsp;&nbsp; 52 | &nbsp;&nbsp;&nbsp;&nbsp; 85 | &nbsp;&nbsp;&nbsp;&nbsp; 56 | &nbsp;&nbsp;&nbsp;&nbsp; 38 | &nbsp;&nbsp;&nbsp;&nbsp; 123 |
| U.S. Government Securities Fund | &nbsp;&nbsp; 23 | &nbsp;&nbsp;&nbsp;&nbsp; 43 | &nbsp;&nbsp;&nbsp;&nbsp; 113 | &nbsp;&nbsp;&nbsp;&nbsp; 77 | &nbsp;&nbsp;&nbsp;&nbsp; 126 | &nbsp;&nbsp;&nbsp;&nbsp; 112 |
| **Portfolio turnover rate for all share classes** <br>**including mortgage dollar roll transactions, if any**<sup>15,16</sup>  | **Six months ended** <br>**June 30, 2025**<sup>4,5,6</sup>  | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** |
| **Portfolio turnover rate for all share classes** <br>**including mortgage dollar roll transactions, if any**<sup>15,16</sup>  | **Six months ended** <br>**June 30, 2025**<sup>4,5,6</sup>  | **2024** | **2023** | **2022** | **2021** | **2020** |
| Global Growth Fund | &nbsp;&nbsp; 15<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 41<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 29<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 29<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 18<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 17<br> %<br>|
| Global Small Capitalization Fund | &nbsp;&nbsp; 27 | &nbsp;&nbsp;&nbsp;&nbsp; 47 | &nbsp;&nbsp;&nbsp;&nbsp; 36 | &nbsp;&nbsp;&nbsp;&nbsp; 40 | &nbsp;&nbsp;&nbsp;&nbsp; 29 | &nbsp;&nbsp;&nbsp;&nbsp; 38 |
| Growth Fund | &nbsp;&nbsp; 14 | &nbsp;&nbsp;&nbsp;&nbsp; 23 | &nbsp;&nbsp;&nbsp;&nbsp; 23 | &nbsp;&nbsp;&nbsp;&nbsp; 29 | &nbsp;&nbsp;&nbsp;&nbsp; 25 | &nbsp;&nbsp;&nbsp;&nbsp; 32 |
| International Fund | &nbsp;&nbsp; 42 | &nbsp;&nbsp;&nbsp;&nbsp; 35 | &nbsp;&nbsp;&nbsp;&nbsp; 28 | &nbsp;&nbsp;&nbsp;&nbsp; 42 | &nbsp;&nbsp;&nbsp;&nbsp; 44 | &nbsp;&nbsp;&nbsp;&nbsp; 40 |
| New World Fund | &nbsp;&nbsp; 23 | &nbsp;&nbsp;&nbsp;&nbsp; 55 | &nbsp;&nbsp;&nbsp;&nbsp; 36 | &nbsp;&nbsp;&nbsp;&nbsp; 40 | &nbsp;&nbsp;&nbsp;&nbsp; 43 | &nbsp;&nbsp;&nbsp;&nbsp; 70 |
| Washington Mutual Investors Fund | &nbsp;&nbsp; 18 | &nbsp;&nbsp;&nbsp;&nbsp; 31 | &nbsp;&nbsp;&nbsp;&nbsp; 29 | &nbsp;&nbsp;&nbsp;&nbsp; 30 | &nbsp;&nbsp;&nbsp;&nbsp; 90 | &nbsp;&nbsp;&nbsp;&nbsp; 40 |
| U.S. Small and Mid Cap Equity Fund | &nbsp;&nbsp; 22 | &nbsp;&nbsp;&nbsp;&nbsp; 4 <br><sup>4611</sup><br>|  |  |  |  |
| Capital World Growth and Income Fund | &nbsp;&nbsp; 26 | &nbsp;&nbsp;&nbsp;&nbsp; 34 | &nbsp;&nbsp;&nbsp;&nbsp; 29 | &nbsp;&nbsp;&nbsp;&nbsp; 42 | &nbsp;&nbsp;&nbsp;&nbsp; 85 | &nbsp;&nbsp;&nbsp;&nbsp; 36 |
| Growth-Income Fund | &nbsp;&nbsp; 18 | &nbsp;&nbsp;&nbsp;&nbsp; 45 | &nbsp;&nbsp;&nbsp;&nbsp; 26 | &nbsp;&nbsp;&nbsp;&nbsp; 25 | &nbsp;&nbsp;&nbsp;&nbsp; 24 | &nbsp;&nbsp;&nbsp;&nbsp; 33 |
| International Growth and Income Fund | &nbsp;&nbsp; 27 | &nbsp;&nbsp;&nbsp;&nbsp; 39 | &nbsp;&nbsp;&nbsp;&nbsp; 38 | &nbsp;&nbsp;&nbsp;&nbsp; 48 | &nbsp;&nbsp;&nbsp;&nbsp; 41 | &nbsp;&nbsp;&nbsp;&nbsp; 56 |
| Capital Income Builder | &nbsp;&nbsp; 43 | &nbsp;&nbsp;&nbsp;&nbsp; 107 | &nbsp;&nbsp;&nbsp;&nbsp; 149 | &nbsp;&nbsp;&nbsp;&nbsp; 126 | &nbsp;&nbsp;&nbsp;&nbsp; 93 | &nbsp;&nbsp;&nbsp;&nbsp; 184 |
| Asset Allocation Fund | &nbsp;&nbsp; 59 | &nbsp;&nbsp;&nbsp;&nbsp; 129 | &nbsp;&nbsp;&nbsp;&nbsp; 159 | &nbsp;&nbsp;&nbsp;&nbsp; 118 | &nbsp;&nbsp;&nbsp;&nbsp; 124 | &nbsp;&nbsp;&nbsp;&nbsp; 145 |
| American Funds Global Balanced Fund | &nbsp;&nbsp; 47 | &nbsp;&nbsp;&nbsp;&nbsp; 141 | &nbsp;&nbsp;&nbsp;&nbsp; 103 | &nbsp;&nbsp;&nbsp;&nbsp; 126 | &nbsp;&nbsp;&nbsp;&nbsp; 39 | &nbsp;&nbsp;&nbsp;&nbsp; 86 |
| The Bond Fund of America | &nbsp;&nbsp; 120 | &nbsp;&nbsp;&nbsp;&nbsp; 398 | &nbsp;&nbsp;&nbsp;&nbsp; 545 | &nbsp;&nbsp;&nbsp;&nbsp; 415 | &nbsp;&nbsp;&nbsp;&nbsp; 456 | &nbsp;&nbsp;&nbsp;&nbsp; 461 |
| Capital World Bond Fund | &nbsp;&nbsp; 60 | &nbsp;&nbsp;&nbsp;&nbsp; 269 | &nbsp;&nbsp;&nbsp;&nbsp; 286 | &nbsp;&nbsp;&nbsp;&nbsp; 188 | &nbsp;&nbsp;&nbsp;&nbsp; 91 | &nbsp;&nbsp;&nbsp;&nbsp; 145 |
| American High-Income Trust | &nbsp;&nbsp; 18 | &nbsp;&nbsp;&nbsp;&nbsp; 45 | &nbsp;&nbsp;&nbsp;&nbsp; 40 | &nbsp;&nbsp;&nbsp;&nbsp; 34 | &nbsp;&nbsp;&nbsp;&nbsp; 56 | &nbsp;&nbsp;&nbsp;&nbsp; 78 |
| American Funds Mortgage Fund | &nbsp;&nbsp; 222 | &nbsp;&nbsp;&nbsp;&nbsp; 644 | &nbsp;&nbsp;&nbsp;&nbsp; 1053 | &nbsp;&nbsp;&nbsp;&nbsp; 1141 | &nbsp;&nbsp;&nbsp;&nbsp; 975 | &nbsp;&nbsp;&nbsp;&nbsp; 1143 |
| Ultra-Short Bond Fund | &nbsp;&nbsp; — <br><sup>17</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>17</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>17</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>17</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>17</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>17</sup><br>|
| U.S. Government Securities Fund | &nbsp;&nbsp; 150 | &nbsp;&nbsp;&nbsp;&nbsp; 398 | &nbsp;&nbsp;&nbsp;&nbsp; 744 | &nbsp;&nbsp;&nbsp;&nbsp; 695 | &nbsp;&nbsp;&nbsp;&nbsp; 433 | &nbsp;&nbsp;&nbsp;&nbsp; 867 |
| Managed Risk Growth Fund | &nbsp;&nbsp; 29 | &nbsp;&nbsp;&nbsp;&nbsp; 14 | &nbsp;&nbsp;&nbsp;&nbsp; 39 | &nbsp;&nbsp;&nbsp;&nbsp; 97 | &nbsp;&nbsp;&nbsp;&nbsp; 32 | &nbsp;&nbsp;&nbsp;&nbsp; 80 |
| Managed Risk International Fund | &nbsp;&nbsp; 12 | &nbsp;&nbsp;&nbsp;&nbsp; 11 | &nbsp;&nbsp;&nbsp;&nbsp; 27 | &nbsp;&nbsp;&nbsp;&nbsp; 82 | &nbsp;&nbsp;&nbsp;&nbsp; 24 | &nbsp;&nbsp;&nbsp;&nbsp; 71 |
| Managed Risk Washington Mutual Investors Fund | &nbsp;&nbsp; 17 | &nbsp;&nbsp;&nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp;&nbsp; 19 | &nbsp;&nbsp;&nbsp;&nbsp; 70 | &nbsp;&nbsp;&nbsp;&nbsp; 16 | &nbsp;&nbsp;&nbsp;&nbsp; 101 |
| Managed Risk Growth-Income Fund | &nbsp;&nbsp; 20 | &nbsp;&nbsp;&nbsp;&nbsp; 13 | &nbsp;&nbsp;&nbsp;&nbsp; 21 | &nbsp;&nbsp;&nbsp;&nbsp; 67 | &nbsp;&nbsp;&nbsp;&nbsp; 13 | &nbsp;&nbsp;&nbsp;&nbsp; 38 |
| Managed Risk Asset Allocation Fund | &nbsp;&nbsp; 13 | &nbsp;&nbsp;&nbsp;&nbsp; 7 | &nbsp;&nbsp;&nbsp;&nbsp; 13 | &nbsp;&nbsp;&nbsp;&nbsp; 48 | &nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp; 30 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>1</sup> Based on average shares outstanding.

<sup>2</sup> This column reflects the impact of certain waivers and/or reimbursements from CRMC and/or AFS, if any.

<sup>3</sup> Ratios do not include expenses of any Central Funds. The fund indirectly bears its proportionate share of the expenses of any Central Funds, if applicable.

<sup>4</sup> Based on operations for a period that is less than a full year.

<sup>5</sup> Unaudited.

<sup>6</sup> Not annualized.

<sup>7</sup> Annualized.

<sup>8</sup> Amount less than $.01.

<sup>9</sup> Amount less than .01%.

<sup>10</sup> Amount less than $1 million.

<sup>11</sup> For the period November 15, 2024, commencement of operations, through December 31, 2024.

<sup>12</sup> All or a significant portion of assets in this class consisted of seed capital invested by CRMC and/or its affiliates. Fees for distribution services and/or insur- ance administrative services, as applicable, are not charged or accrued on these seed capital assets. If such fees were paid by the fund on seed capital assets, fund expenses would have been higher and net income and total return would have been lower. 

<sup>13</sup> This column does not include expenses of the underlying funds in which each fund invests.

<sup>14</sup> This column reflects the net effective expense ratios for each fund and class, which include each class's expense ratio combined with the weighted average net expense ratio of the underlying funds for the periods presented. 

<sup>15</sup> Refer to Note 5 for further information on mortgage dollar rolls.

<sup>16</sup> Rates do not include the fund's portfolio activity with respect to any Central Funds, if applicable.

<sup>17</sup> Amount is either less than 1% or there is no turnover.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **375** | American Funds Insurance Series |

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------

Changes in and disagreements with accountants

------

None

Matters submitted for shareholder vote

------

None

Remuneration paid to directors, officers and others

------

Refer to the trustees' deferred compensation disclosure in the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **376** |

---

------

Approval of Investment Advisory and Service Agreement — American Funds Insurance Series

------

The series' board has approved the continuation of the series' Investment Advisory and Service Agreement (the "agreement") with Capital Research and Management Company ("CRMC") for an additional one-year term through April 30, 2026. The agreement was amended to add U.S. Small and Mid Cap Equity Fund. The board approved the agreement following the recommendation of the series' Contracts Committee (the "committee"), which is composed of all the series' independent board members. The board and the committee determined in the exercise of their business judgment that the advisory fee structure for each fund within the series was fair and reasonable in relation to the services provided, and that approving the agreement was in the best interests of each fund and its shareholders.

In reaching this decision, the board and the committee took into account their interactions with CRMC and information furnished to them throughout the year and otherwise provided to them, as well as information prepared specifically in connection with their review of the agreement, and they were advised by their independent counsel with respect to the matters considered. They considered the following factors, among others, but did not identify any single issue or particular piece of information that, in isolation, was the controlling factor, and each board and committee member did not necessarily attribute the same weight to each factor.

**1. Nature, extent and quality of services**

The board and the committee considered the depth and quality of CRMC's investment management process, including its global research capabilities; the experience, capability and integrity of its senior management and other personnel; the low turnover rates of its key personnel; the overall financial strength and stability of CRMC and the Capital Group organization; the resources and systems CRMC devotes to investment management (the manner in which each fund's assets are managed, including liquidity management), financial, investment operations, compliance, trading, proxy voting, shareholder communications, and other services; and the ongoing evolution of CRMC's organizational structure designed to maintain and strengthen these qualities. The board and the committee also considered the nature, extent and quality of administrative and shareholder services provided by CRMC to the funds under the agreement and other agreements, as well as the benefits to each fund's shareholders from investing in a fund that is part of a large family of funds. The board and the committee considered the risks assumed by CRMC in providing services to the funds, including operational, business, financial, reputational, regulatory and litigation risks. The board and the committee concluded that the nature, extent and quality of the services provided by CRMC have benefited and should continue to benefit each fund and its shareholders.

**2. Investment results**

The board and the committee considered the investment results of each fund in light of its objectives. They compared each fund's investment results with those of other funds (including funds that currently form the basis of the Lipper index for the category in which each fund is included) and data such as publicly disclosed benchmarks, including applicable market and fund indexes over various periods (including each fund's lifetime) through September 30, 2024. They generally placed greater emphasis on investment results over longer term periods and relative to benchmarks consistent with each fund's objective. On the basis of this evaluation and the board's and the committee's ongoing review of investment results, and considering the relative market conditions during certain reporting periods, the board and the committee concluded that each fund's investment results have been satisfactory for renewal of the agreement, and that CRMC's record in managing the funds indicated that its continued management should benefit each fund and its shareholders.

**3. Advisory fees and total expenses**

The board and the committee compared the advisory fees and total expense levels of each fund to those of other relevant funds. They observed that the advisory fees and total expenses of each fund generally compared favorably to those of other similar funds included in the comparable Lipper category. The board and the committee also considered the breakpoint discounts in each fund's advisory fee structure that reduce the level of fees charged by CRMC to the fund as fund assets increase.

In addition, the board and committee reviewed information regarding the effective advisory fees charged to non-mutual fund clients by CRMC and its affiliates. They noted that, to the extent there were differences between the advisory fees paid by each fund and the advisory fees paid by those clients, the differences appropriately reflected the investment, operational, regulatory and market differences between advising the funds and the other clients. The board and the committee concluded that each fund's cost structure was fair and reasonable in relation to the services provided, as well as in relation to the risks assumed by the adviser in sponsoring and managing each fund, and that each fund's shareholders receive reasonable value in return for the advisory fees and other amounts paid to CRMC by the funds.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **377** | American Funds Insurance Series |

---

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**4. Ancillary benefits**

The board and the committee considered a variety of other benefits that CRMC and its affiliates receive as a result of CRMC's relationship with the series and other American Funds, including fees for administrative services provided to certain share classes; fees paid to CRMC's affiliated transfer agent; sales charges and distribution fees received and retained by the series' principal underwriter, an affiliate of CRMC; and possible ancillary benefits to CRMC and its institutional management affiliates in managing other investment vehicles. The board and the committee reviewed CRMC's portfolio trading practices, noting that CRMC bears the cost of third-party research. The board and committee also noted that CRMC benefited from the use of commissions from portfolio transactions made on behalf of each fund to facilitate payments to certain broker-dealers for research to comply with regulatory requirements applicable to these firms, with all such amounts reimbursed by CRMC. The board and the committee took these ancillary benefits into account in evaluating the reasonableness of the other amounts paid to CRMC by the funds.

**5. Adviser financial information**

The board and the committee reviewed information regarding CRMC's costs of providing services to the American Funds, including personnel, systems and resources of investment, compliance, trading, accounting and other administrative operations. They considered CRMC's costs and related cost allocation methodology, as well as its track record of investing in technology, infrastructure and staff to maintain and expand services and capabilities, respond to industry and regulatory developments, and attract and retain qualified personnel. They noted information regarding the compensation structure for CRMC's investment professionals. They reviewed information on the profitability of the investment adviser and its affiliates. The board and the committee also compared CRMC's profitability and compensation data to the reported results and data of a number of large, publicly held investment management companies. The board and the committee noted the competitiveness and cyclicality of both the mutual fund industry and the capital markets, and the importance in that environment of CRMC's long-term profitability for maintaining its independence, company culture and management continuity. They further considered the breakpoint discounts in the funds' advisory fee structure and CRMC's sharing of potential economies of scale, or efficiencies, through breakpoints and other fee reductions and costs voluntarily absorbed. The board and the committee concluded that each fund's advisory fee structure reflected a reasonable sharing of benefits between CRMC and the funds' shareholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **378** |

---

------

Approval of Investment Advisory and Service Agreement and Subadvisory Agreement — American Funds Insurance Series Managed Risk Funds

------

The series' board has approved the continuation of the series' Investment Advisory and Service Agreement (the "advisory agreement") with Capital Research and Management Company ("CRMC") with respect to the Managed Risk Funds for an additional one-year term through April 30, 2026. The advisory agreement was amended to permanently reduce the advisory fee for each fund within the series from 15 basis points to 10 basis points. The board has also approved the series' Subadvisory Agreement (the "subadvisory agreement") with CRMC and Milliman Financial Risk Management LLC ("Milliman FRM") with respect to these funds for the same term. The advisory and subadvisory agreements are jointly referred to below as the "agreements." The board approved the agreements following the recommendation of the series' Contracts Committee (the "committee"), which is composed of all the series' independent board members. The board and the committee determined in the exercise of their business judgment that the advisory fee structure for each fund within the series was fair and reasonable in relation to the services provided, and that approving the agreements was in the best interests of each fund and its shareholders.

In reaching this decision, the board and the committee took into account their interactions with CRMC and Milliman FRM and information furnished to them throughout the year and otherwise provided to them, as well as information prepared specifically in connection with their review of the agreements, and they were advised by their independent counsel with respect to the matters considered. They considered the following factors, among others, but did not identify any single issue or particular piece of information that, in isolation, was the controlling factor, and each board and committee member did not necessarily attribute the same weight to each factor.

**1. Nature, extent and quality of services**

The board and the committee considered the depth and quality of CRMC's investment management process, including its global research capabilities; the experience, capability and integrity of its senior management and other personnel; the low turnover rates of its key personnel; the overall financial strength and stability of CRMC and the Capital Group organization; the resources and systems CRMC devotes to investment management (the manner in which each fund's assets are managed, including liquidity management), financial, investment operations, compliance, trading, proxy voting, shareholder communications, and other services; and the ongoing evolution of CRMC's organizational structure designed to maintain and strengthen these qualities. The board and the committee also considered the nature, extent and quality of the oversight of Milliman FRM's services provided by CRMC, administrative and shareholder services provided by CRMC to the funds under the advisory agreement and other agreements, as well as the benefits to each fund's shareholders from investing in a fund that is part of a large family of funds. The board and the committee considered the risks assumed by CRMC in providing services to the funds, including operational, business, financial, reputational, regulatory and litigation risks. The board and the committee concluded that the nature, extent and quality of the services provided by CRMC have benefited and should continue to benefit each fund and its shareholders.

The board and the committee also considered the depth and quality of Milliman FRM's investment management process, including its experience in applying the Milliman Managed Risk Strategy to other funds in the series and risk management services for other clients; the experience, capability and integrity of its senior management and other personnel; and the services provided to each fund under the subadvisory agreement. The board and the committee concluded that the nature, extent and quality of the services provided by Milliman FRM have benefited and should continue to benefit each fund and its shareholders.

**2. Investment results**

The board and the committee considered the investment results of each fund in light of its objectives. They compared each fund's investment results with those of other funds (including funds that currently form the basis of the Lipper index for the category in which each fund is included), and data such as publicly disclosed benchmarks, including applicable market and fund indexes over various periods (including each fund's lifetime) through September 30, 2024. They generally placed greater emphasis on investment results over longer term periods and relative to benchmarks consistent with each fund's objective. The board and the committee also considered the volatility of the funds compared with the S&P 500 Managed Risk indexes and those of a group of funds with volatility management strategies identified by management over various periods (including each fund's lifetime) through September 30, 2024. On the basis of this evaluation and the board's and the committee's ongoing review of investment results, and considering the relative market conditions during certain reporting periods, the board and the committee concluded that each fund's investment results and the results of the services provided by CRMC and Milliman FRM have been satisfactory for renewal of the agreements, and that CRMC's and Milliman FRM's record in managing the funds indicated that their continued management should benefit each fund and its shareholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **379** | American Funds Insurance Series |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**3. Advisory fees and total expenses**

The board and the committee compared the advisory fees and total expense levels of each fund to those of other relevant funds. The board and the committee noted that CRMC had agreed to eliminate its waiver of 5 basis points of the advisory fee for each of the funds and to permanently reduce the advisory fee of the funds from 15 basis points to 10 basis points, and that CRMC agreed to continue to pay the fees due to Milliman FRM under the subadvisory agreement. They observed that each fund's advisory fees and total expenses were generally competitive with those of other similar funds included in the comparable Lipper category.

The board and the committee also considered the breakpoint discounts in each underlying fund's advisory fee structure that reduce the level of fees charged by CRMC to the underlying fund as its assets increase. In addition, they reviewed information regarding the effective advisory fees charged to non-mutual fund clients by CRMC and its affiliates. They noted that, to the extent there were differences between the advisory fees paid by each fund and the advisory fees paid by those clients, the differences appropriately reflected the investment, operational, regulatory and market differences between advising the funds and the other clients. They also reviewed the fees paid to Milliman FRM by other funds which it advised or subadvised. The board and the committee concluded that each fund's cost structure was fair and reasonable in relation to the services that CRMC provided, directly and through Milliman FRM, as well as in relation to the risks assumed by the adviser in sponsoring and managing each fund, and that each fund's shareholders receive reasonable value in return for the advisory fees and other amounts paid to CRMC (and indirectly to Milliman FRM) by the funds.

**4. Ancillary benefits**

The board and the committee considered a variety of other benefits that CRMC and its affiliates receive as a result of CRMC's relationship with the series and the other American Funds, including fees for administrative services provided to certain share classes; fees paid to CRMC's affiliated transfer agent; sales charges and distribution fees received and retained by the series' principal underwriter, an affiliate of CRMC; and possible ancillary benefits to CRMC and its institutional management affiliates in managing other investment vehicles. The board and the committee reviewed CRMC's portfolio trading practices, noting that CRMC bears the cost of third-party research. The board and committee also noted that CRMC benefited from the use of commissions from portfolio transactions made on behalf of each fund to facilitate payments to certain broker-dealers for research to comply with regulatory requirements applicable to these firms, with all such amounts reimbursed by CRMC. The board and the committee also reviewed similar ancillary benefits received by Milliman FRM as a result of its relationship with the series. The board and the committee took these ancillary benefits into account in evaluating the reasonableness of the advisory fees and other amounts paid to CRMC (and indirectly to Milliman FRM) by each fund.

**5. Adviser financial information**

The board and the committee reviewed information regarding CRMC's costs of providing services to the American Funds, including personnel, systems and resources of investment, compliance, trading, accounting and other administrative operations. They considered CRMC's costs and related cost allocation methodology, as well as its track record of investing in technology, infrastructure and staff to maintain and expand services and capabilities, respond to industry and regulatory developments, and attract and retain qualified personnel. They noted information regarding the compensation structure for CRMC's investment professionals. They reviewed information on the profitability of the investment adviser and its affiliates. The board and the committee also compared CRMC's profitability and compensation data to the reported results and data of a number of large, publicly held investment management companies. The board and the committee noted the competitiveness and cyclicality of both the mutual fund industry and the capital markets, and the importance in that environment of CRMC's long-term profitability for maintaining its independence, company culture and management continuity. They further considered the breakpoint discounts in the funds' advisory fee structure and CRMC's sharing of potential economies of scale, or efficiencies, through breakpoints and other fee reductions and costs voluntarily absorbed. The board and the committee concluded that each fund's advisory fee structure reflected a reasonable sharing of benefits between CRMC and the funds' shareholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| American Funds Insurance Series | **380** |

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ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 9. PROXY DISCLOSURE FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.

Information included in Item 7, if applicable.

ITEM 10. REMUNERATION PAID TO DIRECTORS, OFFICERS, AND OTHERS OF OPEN-END MANAGEMENT INVESTMENT COMPANIES.

Refer to information included in Item 7.

ITEM 11. STATEMENT REGARDING BASIS FOR APPROVAL OF INVESTMENT ADVISORY CONTRACT.

Information included in Item 7, if applicable.

ITEM 12. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 13. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 14. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.

Not applicable.

ITEM 15. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

No material changes.

ITEM 16. CONTROLS AND PROCEDURES.

(a)Based upon their evaluation of the registrant's disclosure controls and procedures as conducted within 90 days of the filing date of this Form N-CSR, the registrant's principal executive officer and principal financial officer have concluded that those disclosure controls and procedures provide reasonable assurance that the material information required to be disclosed by the registrant on this report is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms.

(b)There were no changes in the registrant's internal control over financial reporting that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.

ITEM 17. DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 18. RECOVERY OF ERRONEOUSLY AWARDED COMPENSATION.

Not applicable.

ITEM 19. EXHIBITS.

(a)(1) Not applicable.

(a)(2) Not applicable.

[(a)(3) Separate certifications for the registrant's principal executive officer and principal financial officer, as required by Section 302 of the Sarbanes-Oxley Act of 2002 and Rule 30a-2(a) under the Investment Company Act of 1940, are attached.](f42696d2.htm)

[(b)Separate certifications for the registrant's principal executive officer and principal financial officer, as required by 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, and Rule 30a-2(b) under the Investment Company Act of 1940, are attached. The certifications furnished pursuant to this paragraph are not deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liability of that section. Such certifications are not deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, except to the extent that the Registrant specifically incorporates them by reference.](f42696d3.htm)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

John Hancock Variable Insurance Trust

By:

/s/ Kristie M. Feinberg

------------------------------

Kristie M. Feinberg

President, Principal Executive Officer

Date: August 25, 2025

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By:

/s/ Kristie M. Feinberg

------------------------------

Kristie M. Feinberg

President, Principal Executive Officer

Date: August 25, 2025

By:

/s/ Fernando A. Silva

---------------------------

Fernando A. Silva

Chief Financial Officer, Principal Financial Officer

Date: August 25, 2025

------

## Ex-99.Cert

<u>CERTIFICATION</u>

**I, Kristie M. Feinberg, certify that:**

1. I have reviewed this report on Form N-CSR of **John Hancock Variable Insurance Trust**;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial conditions, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

(a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

(d)Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: August 25, 2025

<u>/s/ Kristie M. Feinberg</u> Kristie M. Feinberg

President, Principal Executive Officer

<u>CERTIFICATION</u>

I, **Fernando A. Silva**, certify that:

1. I have reviewed this report on Form N-CSR of **John Hancock Variable Insurance Trust**;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial conditions, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

(a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

(d)Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: August 25, 2025

<u>/s/ Fernando A. Silva</u> Fernando A. Silva

Chief Financial Officer, Principal Financial Officer

## Exhibit 99.906

**Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002\***

In connection with the attached Report of **John Hancock Variable Insurance Trust** (the "registrant") on Form N-CSR to be filed with the Securities and Exchange Commission (the "Report"), each of the undersigned officers of the registrant does hereby certify that, to the best of such officer's knowledge:

1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the registrant as of, and for, the periods presented in the Report.

/s/ Kristie M. Feinberg

--------------------------------

Kristie M. Feinberg

President, Principal Executive Officer

Dated: August 25, 2025

/s/ Fernando A. Silva

-------------------------------

Fernando A. Silva

Chief Financial Officer, Principal Financial Officer

Dated: August 25, 2025

A signed original of this written statement, required by Section 906, has been provided to the registrant and will be retained by the registrant and furnished to the Securities and Exchange Commission or its staff upon request.

\*These certifications are being furnished solely pursuant to 18 U.S.C. Section 1350 and are not being filed as part of this Form N-CSR or as a separate disclosure document.